Shiv Texchem Ltd

Internal Auditor Resignation

• Resignation of M/s. Nandkishore & Co., Internal Auditor, received 22 August 2026.
• Reason: pre-occupancy and unable to devote time for internal audit.
• Term: not disclosed; no replacement details provided.

Internal Auditor Appointment

• Type of change: Appointment.
• Name and designation: M/s H L SAINI & Co. – Internal Auditor.
• Effective date: August 22, 2026; Term: FY 2026-27.
• Reason: Appointment.
• Brief profile: established 2013; audits, investigations, tax, corporate consultancy.
• Relationships with directors: NA.

Appointments/Resignations

• Proposed regularisation of Shruti Vyas as Independent Director (Non-Executive), subject to AGM member approval.
• Appointed H L SAINI & Co., Chartered Accountants, as Internal Auditors for FY 2026-27 on mutually agreed terms.

Dematerialisation/rematerialisation status

• No dematerialisation/rematerialisation requests were received during the quarter ended 30 June 2026.
• All shares are held in demat form; Regulation 74(5) not applicable.

Business Overview

• Shiv Texchem imports and distributes hydrocarbon-based chemicals to 10+ industries including paints, agro-chemicals, and pharmaceuticals.
• Operates specialized storage and handling facilities at 5 major Indian ports.
• Sources from 65+ global suppliers, aggregating customer demand and negotiating pricing, quality, and logistics.

Key Operational Highlights

• Expanded product portfolio to 45+ chemicals and served 750+ customers by FY25.
• Added high-margin products like Mixed Heptane and Butyl Glycol.
• Strengthened partnerships with clients including BASF, Berger Paints, and GreenLam.

Financial Performance 📊

• Revenue grew from Rs 865 Cr (FY22) to Rs 2,205 Cr (FY25), a 37% CAGR.
• EBITDA increased from Rs 23 Cr to Rs 89 Cr (FY22-FY25), maintaining a 4% margin.
• PAT rose from Rs 14 Cr to Rs 48 Cr, a 51% CAGR; ROE at 14%, ROCE at 21% in FY25.
• H1FY26 revenue was Rs 1,503 Cr, up 46% YoY; EBITDA doubled to Rs 76 Cr with a 5% margin.
• Net debt/equity improved to 0.49x in FY25; net worth increased to Rs 333 Cr.

Capital Structure & Liquidity

• Long-term borrowings increased to Rs 182 Cr by H1FY26; short-term borrowings at Rs 249 Cr.
• Trade payables rose to Rs 592 Cr due to higher procurement volumes.
• Cash and bank balances improved to Rs 249.5 Cr in H1FY26.

Strategic Priorities & Outlook

• Targeting 38-44% CAGR in revenue, EBITDA, and PAT over FY25-FY27.
• Revenue guidance of Rs 3,100 Cr for FY26 and Rs 4,200 Cr for FY27.
• Focus on pharmaceutical, paints, and government OMC segments; adding 150 new customers in FY25.
• Emphasizing long-term supply agreements and leveraging predictive pricing models and shipment tracking.

Risks & Mitigation ⚠️

• High import reliance exposes to global price volatility and supply risks.
• Mitigation via diversified supplier base, proprietary price forecasting analytics, and inventory management.

Governance & Leadership

• Led by Managing Director Vikas Pavankumar; experienced board with independent directors.
• No changes in shareholding or management reported.