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Sahyadri Industries Ltd

| Unaudited Q4 & FY26 Financial Results

Report Source

⬤9th May 26

Summary : Sahyadri Industries reports strong financial results, recommends dividend, and plans expansion, reinforcing governance.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of Materials Consumed: INR 101.92 Cr (Q4 FY26), INR 364.12 Cr (FY26)
  2. Employee benefits expense: INR 11.51 Cr (Q4 FY26), INR 46.05 Cr (FY26)
  3. Depreciation and Amortisation expense: INR 6.35 Cr (Q4 FY26), INR 24.52 Cr (FY26)
  4. Revenue from operations: INR 194.09 Cr (Q4 FY26), INR 676.83 Cr (FY26)
  5. Building Material segment revenue: INR 193.80 Cr (Q4 FY26), INR 671.68 Cr (FY26)
  6. Power Generation segment revenue: INR 1.49 Cr (Q4 FY26), INR 14.44 Cr (FY26)
  7. Net Cash from Operating Activities: INR 121.34 Cr (FY26)
  8. Net Cash from Investing Activities: INR (50.35) Cr (FY26)
  9. Net Cash from Financing Activities: INR (66.20) Cr (FY26)
  10. Net Increase in Cash and Cash Equivalents: INR 4.79 Cr (FY26)
  11. Total Assets: INR 532.10 Cr (March 31, 2026)
  12. Total Equity: INR 406.09 Cr (March 31, 2026)
  13. Total Current Liabilities: INR 119.70 Cr (March 31, 2026)
  14. Total Non-Current Liabilities: INR 6.31 Cr (March 31, 2026)
  15. Standalone (no subsidiary/associate/joint venture company)

Corporate Overview

  1. Orissa state (new unit)
  2. Maharashtra state (new unit)
  3. Manufacturing of Building Materials
  4. Power Generation
  5. Formal and compliant with regulatory requirements
  6. Focus on financial performance and governance
  7. Building Material
  8. Power Generation
  9. Asbestos Corrugated Sheet: 1,20,000 MT
  10. Non Asbestos Cement Boards: 72,000 MT
  11. Setting up new Asbestos Corrugated Sheet unit in Orissa
  12. Initiated Non Asbestos Cement Boards plant in Maharashtra

Risk Factors

  1. New Labour Codes' impact on financials is uncertain
  2. Final dividend requires shareholder approval at AGM
  3. Director appointments subject to member's approval
  4. Material misstatements could exist in financial results

Key Drivers

  1. Strong financial performance for quarter and full year
  2. Board recommended final dividend of Rs. 1.5
  3. Expansion plans for new manufacturing units initiated
  4. Key board committees have been reconstituted

Auditor’s Report

  1. Unmodified opinion on annual financial results
  2. No material misstatement found in quarterly results review

Board Commentary

  1. Appointment of Mr. Sunil Mahendra Suratwala as Additional Director (Non-executive and Independent)
  2. Re-appointment of Mrs. Moushmi Sahil Shaha as Independent Director for second term
  3. Re-appointment of Mr. Ankem Sri Prasad Mohan as Independent Director for second term
  4. Reconstitution of Audit, Nomination & Remuneration, Stakeholder Relationship, and CSR Committees
  5. Recommended final dividend of Rs. 1.5 per Equity share (INR 10 each) for FY 2025-26
  6. Potential impact of new Labour Codes on financial results
  7. Compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
  8. Impact of new Labour Codes effective November 2025
  9. New unit for Asbestos Corrugated Sheet in Orissa
  10. New unit for Non Asbestos Cement Boards in Maharashtra

Corporate Governance

  1. Adherence to ICAI Code of Ethics by auditors
  2. Appointment and re-appointment of multiple Non-Executive Independent Directors
  3. Independent directors not related to other board members
  4. Reconstitution of Audit Committee, Nomination & Remuneration Committee, Stakeholder Relationship Committee, CSR Committee

Management Discussion & Analysis

Future Strategy

  1. Expansion into new manufacturing units

Operational Focus Areas

  1. Timely approval of financial results
  2. Ensuring regulatory compliance

Performance Drivers

  1. Increased revenue from operations
  2. Growth in profit before tax and net profit

Risk Control Measures

  1. Evaluating and accounting for new Labour Code rules as notified

Critical Risks

  1. Uncertain impact of new Labour Codes on employee benefits