Unaudited Financial Results (Standalone and Consolidated) of the COmpany for the quarter ended june 2025.
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Shree Salasar Investments reported Q1 FY26 results with a sharp divergence between standalone and consolidated numbers. On a standalone basis, revenue fell to Rs 32.58 lakhs from Rs 56.10 lakhs YoY (~42% decline) and profit after tax dropped to Rs 19.97 lakhs from Rs 45.60 lakhs. On a consolidated basis, revenue surged to Rs 1,997.39 lakhs from Rs 707.40 lakhs YoY (~182% growth), driven by subsidiary operations, and PAT jumped to Rs 246.85 lakhs from Rs 42.18 lakhs (~485% growth). Consolidated EPS rose to Rs 3.54 from Rs 0.71. However, consolidated finance costs spiked sharply to Rs 140.15 lakhs from Rs 1.62 lakhs, indicating higher debt or borrowings. The auditor (Satya Prakash Natani & Co.) issued an unmodified limited review report, though it noted that 3 subsidiaries contributing Rs 1,997.39 lakhs in revenue were not reviewed by their auditors.
Consolidated numbers show strong top-line and bottom-line growth, but the massive jump in finance costs warrants attention. The standalone business continues to shrink while value increasingly sits in un-reviewed subsidiaries, which is a governance risk for shareholders. Mixed signals overall — strong headline growth but underlying quality concerns.