BSE: 543519
Shashwat Furnishing Solutions
Operates a small furniture and home furnishing business on a standalone basis, with consolidated revenue of Rs 23.9503 crore in FY26. The standalone furnishing line generated Rs 468.48 Lakhs in revenue, essentially flat versus Rs 469.39 Lakhs in FY25, and swung to a Rs 53.76 Lakhs net loss from a Rs 35.50 Lakhs profit the previous year. In November 2024, it acquired Dhruvanshi Agrotech Private Limited, an agrotech subsidiary that contributed Rs 2,169.02 Lakhs to consolidated revenue. On a consolidated basis, the company slipped to a Rs 35.52 Lakhs net loss from a Rs 53.87 Lakhs profit in FY25, despite the auditor issuing an unmodified opinion on the results. Cost structure shows materials at 4.7% of revenue, employee costs at 2.3%, other operating expenses at 1.9%, and capex at 0.1% of revenue. The company is listed on the BSE SME platform under Scrip Code 543519 and is led by Managing Director and majority promoter Hitesh Karnawat. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Furniture and home furnishing, Agrotech (Dhruvanshi Agrotech subsidiary). Small SME-listed company combining a furniture and home furnishing business with a recently acquired agrotech subsidiary
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 14 | 24 |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | 2.40 | 1.88 |
| ROE % · ROCE % | — · 18.5 | — · (4.0) |
| Debt / equity (x) | — | — |
| Cash from operations | 0 | 0 |
| Capex | (0) | (0) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|
| Revenue | 11 | 9 | 15 |
| Profit before tax | 1 | (0) | (0) |
| Net profit | — | — | — |
| EPS (₹) | 2.14 | 0.94 | 0.94 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TIRUPATI FOAM LIMITED | 30 | 13.8 | 0.88 | — | 5.7 | 5.5 | — | 7.2 |
| Milestone Furniture Limited | 26 | 28.9 | 1.07 | — | — | — | — | — |
| Shashwat Furnishing Solutions ◆ | 12 | 14.0 | — | — | — | (7.4) | — | — |
| Magenta Lifecare Limited | 6 | 22.9 | — | — | — | 1.3 | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.0 | 25.9 | 51 of 191 | 74% |
| ROCE | (7.4) | 7.0 | 205 of 219 | 6% |
| Market cap | 12 | 223 | 211 of 228 | 8% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · Quarterly compliance certificate for demat and remat activities | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closure for Designated Persons | compliance | minimal | — | — |
| 15 Sept 2026 · Company clarifies on significant share price movement | regulatory legal | medium | — | — |
| 10 Sept 2026 · BSE seeks clarification on significant price movement | regulatory legal | high | — | — |
| 3 Sept 2026 · The Board of Directors of Shashwat Furnishing Solutions Limited, at its meeting held on 03rd September, 2026 approved the re-appointment of Mr. Hitesh Karnawat as Chairman and Managing .... | management changes | high | — | — |
| 31 Aug 2026 · Shashwat Furnishing Solutions holds 6th AGM, passes key resolutions | board shareholder meetings | low | — | — |
| 6 Aug 2026 · Book Closure for 6th Annual General Meeting from Aug 24 to Aug 31, 2026 | compliance | minimal | — | — |
| 6 Aug 2026 · Notice of 6th AGM published in newspapers; covers e-voting and book closure | compliance | minimal | — | — |
| 5 Aug 2026 · Annual Report FY26 and 06th AGM Notice filed; subsidiary sale proposal included | board shareholder meetings | medium | — | — |
| 30 Jul 2026 · Compliance certificate under Reg 74(5) for quarter ended June 30 2026 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.