Key Quantitative Figures - Standalone Financials (₹ in lakh)
Balance Sheet as of September 30, 2026:
- Total Assets: ₹22,905.86 lakh (vs ₹23,415.43 lakh as of March 31, 2026)
- Equity Share Capital: ₹4,219.51 lakh (unchanged)
- Other Equity: ₹14,426.03 lakh (vs ₹14,924.74 lakh)
- Total Borrowings: ₹2,263.54 lakh (₹558.51 lakh non-current + ₹1,705.03 lakh current)
- Trade Payables: ₹1,043.83 lakh (₹433.17 lakh to micro/small enterprises + ₹610.66 lakh to others)
Half-Year Performance (April-September 2026):
- Net Profit before Tax: ₹320.17 lakh
Cash Flow Statement (Half-Year):
- Net Cash from Operating Activities: ₹407.40 lakh
- Net Cash from Investing Activities: (₹821.23) lakh
- Net Cash from Financing Activities: (₹91.20) lakh
- Net Change in Cash: (₹505.03) lakh
- Closing Cash & Cash Equivalents: ₹8.51 lakh
Key Quantitative Figures - Consolidated Financials (₹ in lakh)
Balance Sheet as of September 30, 2026:
- Total Assets: ₹25,051.63 lakh (vs ₹25,326.96 lakh as of March 31, 2026)
- Equity Share Capital: ₹4,219.51 lakh (unchanged)
- Other Equity: ₹13,653.54 lakh (vs ₹14,315.79 lakh)
- Non-controlling Interest: (₹795.26) lakh (vs (₹583.50) lakh)
- Total Borrowings: ₹5,464.23 lakh (₹3,378.42 lakh non-current + ₹2,085.81 lakh current)
Half-Year Performance (April-September 2026):
- Net Loss before Tax: (₹32.26) lakh
Cash Flow Statement (Half-Year):
- Net Cash from Operating Activities: ₹195.95 lakh
- Net Cash from Investing Activities: (₹1,271.98) lakh
- Net Cash from Financing Activities: ₹577.47 lakh
- Net Change in Cash: (₹498.55) lakh
- Closing Cash & Cash Equivalents: ₹51.19 lakh
Amalgamation Scheme Update
The Board had previously approved a scheme of amalgamation on September 23, 2026, for merging two wholly-owned subsidiaries - Shish Polylam Private Limited (Transferor Company 1) and Shish Global Solutions Private Limited (Transferor Company 2) - with Shish Industries Limited (Transferee Company) with an appointed date of April 1, 2026.
The National Company Law Tribunal (NCLT), Ahmedabad Bench, vide its order dated October 31, 2026, has directed convening meetings of equity shareholders and unsecured creditors on December 15, 2026, at 10:30 AM IST and 12:30 PM IST respectively, to consider and approve the scheme.
Fund Utilization Statement
The company raised ₹7,234.25 lakh through a preferential issue on February 26, 2026. Monitoring agency is Brickwork Ratings India Private Limited.
Utilization as of September 30, 2026:
- Investment in Interstar Polyfab Private Limited: ₹359.40 lakh out of ₹500.00 lakh allocated
- Investment in Shish Advanced Composites Private Limited: ₹245.03 lakh out of ₹1,500.00 lakh allocated
- Investment in other entities: ₹1,300.00 lakh out of ₹1,300.00 allocated (modified from ₹1,500.00 lakh due to non-allotment of convertible warrants)
- Capital Expenditure: ₹206.61 lakh out of ₹1,600.00 lakh allocated
- Working Capital Requirements: ₹2,625.65 lakh out of ₹5,600.00 lakh allocated
- General Corporate Purposes: ₹2,500.00 lakh out of ₹3,437.11 allocated (modified from ₹3,587.11 lakh due to non-allotment of convertible warrants)
There is no deviation/variation in the use of funds from the original objects. The audit committee and auditors have no comments.
Limited Review Reports
KPCM & Co., Chartered Accountants, issued limited review reports for both standalone and consolidated financial results. They conducted reviews in accordance with SRE 2410 and found no material misstatements. The reports confirm compliance with SEBI LODR Regulations and applicable accounting standards.
Entities Involved
The consolidated results include: Shish Industries Limited, Shish Polylam Private Limited, Shish Global Solutions Private Limited, Greenenergy International Inc., Interstar Polyfab Private Limited, Dunnage Bag Private Limited, and Shish Advanced Composites Private Limited.