Sharat Industries Ltd

AGM details

• AGM held on 30 September 2026 at 11:00 AM IST via VC/OAVM.
• Quorum: 43 members attended, representing 44.85% of shares.

Resolutions put to vote

• Adopt audited standalone and consolidated financial statements for FY2026 (Ordinary).
• Appointment of director retiring by rotation (Ordinary).
• Re-appoint Swayze Mani as Independent Director for second term (Special).
• Approve material RPT with Katyayini Aqatech Private Limited (Ordinary).
• Approve material RPT with SP Enterprises (Partnership Firm) (Ordinary).

Voting status

• EVoting results to be declared within 2 working days.

Director changes

• Shanmugam P retires by rotation; re-appointment sought.
• Chairman of the meeting: Sharat Reddy Sabbella.

Auditor status

• No auditor changes disclosed.

Sharat Industries Limited: Trading Window Closed from 01 October 2026 until expiry of 48 hours after the announcement of the unaudited Standalone & Consolidated Financial Results for the quarter and half year ending on 30 September 2026.

Book closure details

• Book closure for the 36th AGM from 23 September 2026 to 30 September 2026 (inclusive).

Financial Highlights

• Revenue from operations ₹524.72 cr, up 38% YoY.
• EBITDA ₹39.04 cr, up 28.8% YoY.
• PAT ₹15.90 cr, up 59.7% YoY.
• EPS ₹4.06; basic and diluted.
• Exports ₹361.99 cr including incentives, up 23.6%.
• Net worth ₹154.59 cr, up 13%.
• Debt/Equity 0.84x; Debt service coverage 2.46x.
• Authorized capital raised to ₹60 cr; rights issue completed.
• Dividend declared: none for FY26.

Operational Performance

• Shrimp sold: 5,088 MT, +8%.
• Average realisation ₹709/kg, +14%.
• Processing plant utilisation ~60% (4,500 of 7,500 TPA).
• Export mix: Russia 59.3%, China 18.7%, USA 20.0%.
• Domestic sales ₹162.72 cr.
• External feed sales declined to ₹19 cr; captive consumption up.
• Launched PD Curl Control; reintroduced Black Tiger; 16+ product varieties.
• Merchant export model established in Gujarat.

Market & Strategy

• FY26: US tariff shifts; Russia grown as export anchor; China re-entry with Black Tiger.
• Entered Germany, Vietnam, Kazakhstan, Hong Kong; diversification gains.
• Five strategic currents: value-added, market access, farmer network, brands, scale.
• 1 MW captive solar project: 310 kW commissioned; full 1 MW by end-Q1 FY27.
• Rights issue completed; authorized capital raised to ₹60 cr.

Capital Structure & Liquidity

• Total assets ₹315.9 cr; net worth ₹154.59 cr.
• Debt ₹129.66 cr; net debt₹113.06 cr; cash ₹16.60 cr.
• Current ratio 2.04; debt/equity 0.84x; DSCR 2.46x.
• Inventories ₹107.75 cr; trade receivables ₹100.33 cr.
• Cash flows: operating ₹1.46 cr net; investing ₹9.04 cr outflow; financing ₹2.91 cr inflow.
• Rights issue proceeds ₹2.64 cr; no dividend declared.

Governance & Compliance

• Board: 6 directors; 2 Exec, 4 Non-Exec (3 Independent).
• Nine Board meetings; Audit Committee met five times; Independent Directors meeting held on 10 Feb 2026.
• Statutory auditors: M/s A.R. Krishnan & Associates; no qualifications.
• Secretarial auditors: M/s BP & Associates; MR-3; no qualifications.
• Related party transactions reviewed; RPT policy disclosed; omnibus approvals for material RPTs.
• AGM scheduled 30 Sep 2026; VC/OAVM; e-voting procedures noted.

Sustainability & CSR

• CSR spend ₹20.52 lakh; two programs funded: Teach For Change ₹10.00 lakh, Sri Sairam Ashram ₹10.52 lakh.
• Average net profit ₹1025.81 lakh; CSR obligation ₹20.52 lakh fulfilled.
• Antibiotic-free farming and traceability across supply chain maintained.
• 1 MW solar project under construction; 310 kW commissioned; expected ₹1.0-1.2 cr annual saving.

Outlook & Risks

• US trade policy volatility and EU compliance requirements loom in FY27.
• Global shrimp market projected to grow ~3%; Black Tiger pivot remains strategic.
• EHP and disease pressure at farm level; ongoing SPF Black Tiger expansion.
• Regulatory shifts and freight cost pressures necessitate value-added exports.

Subsidiaries & Associates

• United Aquatech Private Limited is an associate; SIL holds 49%.
• United Aquatech reported no revenue; loss before tax ₹0.96 lakh; not consolidated.

Independent Director Re-appointment

• Re-appointment of Independent Director Mr. Swayze Mani for a second five-year term.
• Effective from 16 May 2027 to 15 May 2032, subject to shareholders' approval.
• Reason: re-appointment for second term as Independent Director.
• Board approved on recommendation of Nomination and Remuneration Committee.
• Profile: over 25 years in Human Resource Management.
• Relationship: not related to any other Directors.
• Not debarred from holding office by SEBI or other authorities.
• Shareholder approval to be sought at the 36th AGM.

CFO resignation

• Balasubramanian R resigns as CFO and KMP, effective 10 August 2026, citing personal reasons.
• He will cease to be a KMP under applicable Companies Act provisions.

Appointment of new CFO

• Ganesan Nilakanatan, CS & Compliance Officer, appointed CFO with effect 10 August 2026.
• Appointment is full-time, per employment agreement, on board recommendation.
• He is 62, CS, Cost Accountant, ACMA UK, with 35+ years’ experience.
• Disclosure of relationships with directors: Not applicable.
• Board approved appointment on 10 August 2026.

Meeting Details

• Board meeting on 10 August 2026; time and venue not disclosed.

Key Agenda Items

• Un-audited standalone and consolidated financial results for quarter ended 30 June 2026 to be approved.

Other Notes

• Trading window closed for designated persons and relatives until 12 August 2026 (48 hours post results).

Dematerialisation certificate status

• Certificate from registrar confirms dematerialisation of share certificates for the reporting period.