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Shree Rama Multi-Tech Ltd

| Statement Of Audited Financial Results For The Quarter And Year Ended On 31st March, 2026

Report Source

⬤9th May 26

Summary : Shree Rama Multi-Tech Limited reported increased revenue and profit on a standalone basis, with strong operating cash flows, but received a qualified audit opinion due to non-consolidation of a defunct Mauritius subsidiary.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of material consumed: Rs. 13,813.13 Lakhs (FY26)
  2. Employees benefit expenses: Rs. 2,689.46 Lakhs (FY26)
  3. Depreciation and amortisation expenses: Rs. 960.38 Lakhs (FY26)
  4. Power & Fuel Exps.: Rs. 1,031.61 Lakhs (FY26)
  5. Finance Cost: Rs. 105.01 Lakhs (FY26)
  6. Other Expenses: Rs. 2,896.28 Lakhs (FY26)
  7. Sale of Products: Rs. 23,816.51 Lakhs (FY26)
  8. Other Operating Income: Rs. 151.23 Lakhs (FY26)
  9. Other Income: Rs. 379.04 Lakhs (FY26)
  10. Net cash flows from operating activities: Rs. 3,244.15 Lakhs (FY26)
  11. Net cash flows used in investing activities: Rs. (664.87) Lakhs (FY26)
  12. Net cash flows from financing activities: Rs. (1,783.25) Lakhs (FY26)
  13. Net increase in cash and cash equivalents: Rs. 796.03 Lakhs (FY26)
  14. Total Assets: Rs. 22,785.80 Lakhs (FY26) vs Rs. 21,417.69 Lakhs (FY25)
  15. Total Equity: Rs. 17,753.13 Lakhs (FY26) vs Rs. 15,317.84 Lakhs (FY25)
  16. Non-current liabilities: Rs. 1,646.08 Lakhs (FY26) vs Rs. 2,249.58 Lakhs (FY25)
  17. Current liabilities: Rs. 3,386.59 Lakhs (FY26) vs Rs. 3,850.27 Lakhs (FY25)
  18. Audited Financial Results on standalone basis
  19. Non-consolidation of Shree Rama (Mauritius) Limited (WOS) accounts

Corporate Overview

  1. Non-consolidation of defunct wholly-owned subsidiary accounts
  2. Manufacturing of Packaging Materials
  3. Lami-Tubes, Tube Laminates, Multilayer Films
  4. Formal submission of audited financial results
  5. Single segment: Manufacturing of Packaging Materials
  6. Purchase of property, plant and equipment (Rs. 1,610.39 Lakhs in 2025-26)

Risk Factors

  1. Auditor issued a qualified opinion.
  2. Subsidiary accounts not consolidated, defunct.
  3. New labor codes impact uncertain.
  4. Going concern risk mentioned by auditor.

Key Drivers

  1. Revenue from operations increased significantly.
  2. Net profit for period showed growth.
  3. Strong positive cash flow from operations.
  4. Total assets grew year-on-year.

Auditor’s Report

  1. Qualified Opinion
  2. Non-consolidation of accounts of Shree Rama (Mauritius) Limited (Wholly Owned Subsidiary) as per Section 129 of the Act & Ind AS 110, due to the WOS being defunct and inability to prepare consolidated financial statements.
  3. Opinion not modified regarding balancing figures for quarter/year end, which were subject to limited review.

Board Commentary

  1. Non-consolidation of Shree Rama (Mauritius) Limited (WOS) accounts
  2. Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  3. Implementation of four new Labour Codes by Government of India, effective Nov 21, 2025
  4. Estimated additional provision of Rs. 70.04 lakhs for past service cost due to Labour Codes
  5. Purchase of property, plant and equipment (Rs. 1,610.39 Lakhs in 2025-26)

Corporate Governance

  1. Auditors complied with Code of Ethics issued by ICAI
  2. Audit Committee reviewed financial results
  3. Inability to prepare consolidated financial statements due to defunct WOS

Management Discussion & Analysis

Performance Drivers

  1. Revenue from operations increased to Rs. 23,967.74 Lakhs (FY26) from Rs. 20,783.87 Lakhs (FY25)
  2. Net Profit for the period increased to Rs. 2,476.23 Lakhs (FY26) from Rs. 5,134.57 Lakhs (FY25)
  3. Total income increased to Rs. 24,346.78 Lakhs (FY26) from Rs. 20,850.78 Lakhs (FY25)

Risk Control Measures

  1. Full provision made for diminution in value of investment in defunct WOS
  2. Monitoring finalisation of Central/State Rules for Labour Codes

Critical Risks

  1. Non-consolidation of Shree Rama (Mauritius) Limited (Wholly Owned Subsidiary) accounts due to defunct status
  2. Uncertainty regarding financial implications of new Labour Codes