Shiva Mills Ltd

AGM and e-voting details

• Date of 11th AGM: 27 August 2026.
• Cut-off date for remote e-voting: 20 August 2026.
• Remote e-voting window: 24 Aug 2026 10:00 IST to 26 Aug 2026 17:00 IST.
• Scrutinizer for remote e-voting: Mr R Dhanasekaran, Practising Company Secretary.

Financial highlights

• Total income 14,034.79 lakh; revenue from operations 13,913.67 lakh.
• Profit before tax: (47.09) lakh; depreciation 696.37; finance costs 39.53.
• Deferred tax credit 38.14 lakh; net tax expense (38.14) lakh.
• Net loss after tax (8.95) lakh; total comprehensive income 8.81 lakh.
• Earnings per share: -0.10; no dividend declared.
• Operating cash flow 1,613.19 lakh; closing cash balance 397.08 lakh.

Operational performance

• Spinning unit produced 4,127.75 tonnes of cotton yarn; prior year 5,722.69.
• Spinning unit produced 1,562.25 tonnes of waste cotton; prior year 1,865.58.
• Yarn sales 4,390.83 tonnes; prior year 5,646.28.
• Average yarn count increased to 42s from 32s.
• Wind mills installed capacity 10.65 MW; generated 190.07 lakh units.
• Wind power banked 9.13 lakh units; wind power sales earned Rs 18.82 lakh.

Assets and capital deployment

• PPE gross block 10,839.80; accumulated depreciation 5,329.59; net block 5,510.21.
• Capital work-in-progress balance 9.30; additions 315.04; capitalised 319.44.
• Investment property net carrying value 4.94.
• Investment in Nellai Renewables Pvt Ltd: 60.00 lakh (FVOCI).
• Land not held in company name; title deeds with Shiva Texyarn Limited due to demerger.
• Land at Velvarkottai and Varapatti classified as investment property.

Debt and liquidity

• Working capital borrowings: Nil as at 31.03.2026; 988.58 lakh as at 31.03.2025.
• Current liabilities total 1,304.69 lakh; trade payables 515.46; provisions 453.06; other current liabilities 86.24.
• Net debt position: net cash 397.08 lakh; gearing (0.04)x.
• Credit rating: CARE BBB stable (long-term); CARE A3+ downgraded (short-term).
• Cash flows: operating 1,623.59; investing (130.80); financing (1,028.11) lakh.
• PPE additions during year: 302.52; disposals (173.66).

Equity and shareholding

• Authorised share capital Rs 1,500.00 lakh; issued and paid-up capital Rs 864.18 lakh.
• Promoter Annamallai Retreading Company Pvt Ltd holds 72.17% (62,36,976 shares).
• Shares dematerialised: 98.57%; no capital changes during the year.
• Total equity: 9,249.59 lakh; paid-up capital unchanged at 864.18.

Corporate governance

• Board of 7 directors; 2 executive, 4 independent.
• Audit Committee met 4 times; chaired by Sri S Palaniswami; members Sundararaman, Sivasamy, Ganeshkumar.
• Remuneration: MD 39.04 lakh; JMD 36.00; CFO 15.05; Company Secretary 14.11.
• Secretarial audit: no qualifications; RS Dhanasekaran appointed as secretarial auditor.
• Whistle blower mechanism in place; CSR policy updated; compliance certificate obtained.
• Independent directors evaluated board performance and independence.

Related party transactions

• All related party transactions in ordinary course; arm's length.
• Significant RPTs disclosed; include Bannari Amman group transactions and others.
• Policy on related party transactions available on company website.

Contingent liabilities & commitments

• Contingent liabilities include energy dispute with TANGEDCO (52.17) and service tax (1.19).
• Bank guarantees: 18.74; capital commitments: 176.46.
• No material litigation affecting going concern.

Outlook & risks

• Textile industry outlook cautiously positive; cotton price volatility a key risk.
• Yarn realizations, energy costs, and forex movements could affect margins.
• Industry benefits from demand recovery and energy efficiency measures.

Rating Action

• Long-term bank facilities ₹27.50 crore rated CARE BBB; Stable, reaffirmed.
• Short-term facilities ₹12.50 crore rated CARE A3+; reaffirmed.

Facilities & Amounts

• Long-term fund-based limits total ₹27.50 crore: ICICI Bank ₹17.50, IOB ₹10.00.
• Short-term non-fund limits total ₹12.50 crore: ICICI Bank Letter of Credit.
• Total facilities ₹40.00 crore.

Outlook & Rationale

• Outlook: Stable on long-term BBB.
• Rationale based on FY26 audited operational and financial performance.
• Rating reaffirmed; no material change to last action.

Surveillance & Notes

• CARE may revise/outlook upon new information; ratings subject to surveillance.

Dematerialisation/Rematerialisation status

• Dematerialisation requests processed and confirmed/rejected to the depositories.
• Securities dematerialised are listed on the stock exchanges where the existing securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification.
• Depository's name substituted as registered owner in records within prescribed timelines.

Meeting Details

• Board meeting scheduled for 27 May 2026.
• Time and location were not disclosed.

Key Agenda Items

• Approve audited financial results for quarter and year ended 31 March 2026.
• Consider recommendation of dividend for financial year 2025-2026.

Other Notes

• Trading window remains closed from 1 April 2026 to 29 May 2026, inclusive.