Key Quantitative Figures

Financial Performance (Quarter Ended September 30, 2026):

  • Revenue from Operations: ₹0.00 Crores (compared to ₹0.00 Crores in Q2 September 2025)
  • Other Operating Income: ₹0.24 Crores
  • Total Revenue: ₹0.24 Crores
  • Total Expenses: ₹2.87 Crores
  • Loss Before Tax: ₹(2.63) Crores
  • Net Loss for Period: ₹(1.85) Crores
  • Basic & Diluted EPS: ₹(0.93) per share (face value ₹10)

Financial Performance (Half Year Ended September 30, 2026):

  • Revenue from Operations: ₹0.00 Crores (compared to ₹26.60 Crores in H1 September 2025)
  • Other Operating Income: ₹0.48 Crores
  • Total Revenue: ₹0.48 Crores
  • Total Expenses: ₹5.90 Crores
  • Loss Before Tax: ₹(5.42) Crores
  • Net Loss for Period: ₹(3.92) Crores
  • Basic & Diluted EPS: ₹(1.98) per share

Balance Sheet Highlights (as of September 30, 2026):

  • Property, Plant and Equipment: ₹49.53 Crores
  • Financial Assets: ₹48.75 Crores
  • Total Assets: ₹203.14 Crores
  • Equity Share Capital: ₹19.80 Crores
  • Other Equity: ₹88.63 Crores
  • Borrowings (Non-current): ₹2.68 Crores
  • Borrowings (Current): ₹59.31 Crores
  • Trade Payables: ₹20.90 Crores

Parties Involved

  • Stock Exchanges: BSE Limited (Scrip Code: 513436), National Stock Exchange of India Ltd. (Symbol: SHAHALLOYS)
  • Auditors: Parikh & Majmudar Chartered Accountants (FRN: 107525W)
  • Signatories: Narayanlal F. Shah (Company Secretary & Compliance Officer), Ashok Sharma (Whole Time Director, DIN: 00038360)
  • Auditor Signatory: CA Satwik Durkal (Partner, M. No.: 107628)

Material Developments

Plant Closure Impact:

  • The company's iron and steel plant at Vill. Santej, Tal. Kalol, Dist. Gandhinagar, Gujarat has been shut down since August 2025
  • Closure was declared in board meeting dated July 21, 2025 due to technology obsolescence and increasing higher production costs
  • This has resulted in persistent losses over the last couple of years
  • Operations remain closed with zero revenue from operations

Auditor's Qualification:

  • Auditors have emphasized material uncertainty related to going concern
  • They are unable to provide an opinion on the going concern status of the company
  • Management represents that company is exploring various options in the best interest of stakeholders
  • No provision for impairment of assets has been made during the quarter
  • Accounts have been prepared on a going concern basis despite the uncertainty

Financial Impact Assessment

  • Direct financial impact quantified through reported losses of ₹1.85 crore for Q2 and ₹3.92 crore for H1
  • No operational revenue due to plant shutdown
  • Asset impairment not provided for despite plant closure
  • Going concern uncertainty may affect future operations