Company Overview

Shree Hari Chemicals Export Limited (CIN: L99999MH1987PLC044942) is a leading manufacturer and exporter of dyes intermediate (H-Acid) in India. The company operates a manufacturing facility at Mahad, Raigad with production capacity of 270 tonnes. BSE Scrip Code: 524336.

Financial Performance FY 2025-26

Standalone Financials (₹ in lakhs):

  • Revenue from Operations: ₹18,450.48 (FY 2024-25: ₹14,119.58) - 31% growth
  • Other Income: ₹305.80 (FY 2024-25: ₹87.12)
  • Profit Before Tax: ₹529.59 (FY 2024-25: ₹695.50)
  • Profit After Tax: ₹422.22 (FY 2024-25: ₹512.40)
  • Total Comprehensive Income: ₹421.01 (FY 2024-25: ₹515.54)
  • EPS Basic: ₹8.23 (FY 2024-25: ₹11.47)
  • EPS Diluted: ₹7.15 (FY 2024-25: ₹8.76)

Consolidated Financials (₹ in lakhs):

  • Revenue from Operations: ₹18,450.48 (same as standalone)
  • Profit Before Tax: ₹519.18
  • Profit After Tax: ₹411.81
  • Total Comprehensive Income: ₹410.61
  • Total Assets: ₹10,711.52 lakhs (Previous year: ₹8,661.75 lakhs)
  • Equity: ₹4,430.28 lakhs (Previous year: ₹3,198.63 lakhs)
  • Liabilities: ₹6,281.24 lakhs (Previous year: ₹5,463.12 lakhs)

Key Ratios:

  • Debtors' Turnover: 6.87 (prev: 5.58)
  • Inventory Turnover: 10.59 (prev: 11.85)
  • Interest Coverage Ratio: 3.56 (prev: 2.48)
  • Current Ratio: 0.81 (prev: 0.87)
  • Debt Equity Ratio: 0.64 (prev: 0.82)
  • Operating Profit Margin: 8.60% (prev: 11.71%)
  • Net Profit Margin: 2.29% (prev: 3.63%)
  • Return on Net Worth: 9.51% (prev: 16.10%)

Capital Structure Changes

During FY 2025-26, the company allotted 6,05,494 equity shares upon conversion of Zero Coupon Compulsorily Convertible Debentures (CCDs) issued on preferential basis to promoters. Total 18,66,580 CCDs of ₹79 each (aggregating ₹14.75 crore) were issued in FY 2024-25, convertible into equity shares.

Preferential Issue Proposal

The Board has approved issuance of 22,85,000 convertible warrants on preferential basis to promoters at ₹176.10 per warrant, aggregating ₹40.24 crore. The warrants are convertible into equity shares within 18 months at premium of ₹166.10 per share.

Allottees and Allocation:

  • Shri Nihit Agarwal: 6,85,500 warrants
  • Smt. Priyamvada Agarwal: 6,85,500 warrants
  • Smt. Avanticka Agarwal: 4,57,000 warrants
  • Smt. Smradhi Agarwal: 4,57,000 warrants

Utilization of Proceeds:

  • ₹10.24 crore for expansion/set-up of new unit for dyes
  • ₹10.00 crore for investment in subsidiary Shakambhari Dyechem
  • ₹10.00 crore for working capital and debt repayment
  • ₹10.00 crore for general corporate purposes

Subsidiary Update

Shakambhari Dyechem Private Limited (wholly-owned subsidiary) has obtained Environmental Clearance from State Environment Impact Assessment Authority (SEIAA) for manufacturing Synthetic Organic Chemicals and Dye Intermediates. The company is setting up manufacturing facility expected to commence production in near term.

AGM and Corporate Governance

The 39th AGM is scheduled for September 24, 2026 via video conferencing to approve financial statements and multiple resolutions including re-appointment of directors, preferential issue approval, and increase in borrowing limits to ₹200 crore. The company has complied with corporate governance requirements under SEBI LODR Regulations.

Capital Expenditure

Significant capital expenditure of ₹1,292.99 lakhs in fixed assets during the financial year, with Capital Work-in-Progress at ₹1,130.42 lakhs (Previous year: ₹469.99 lakhs).

Sustainability Initiatives

  • Zero Liquid Discharge (ZLD) system
  • Solar-generated electricity for Mahad plant (3.35 MW total capacity)
  • By-products sold to cement industry

No dividend recommended for FY 2025-26 to conserve resources for working capital requirements.