Sahyadri Industries Reports 49% Jump in FY26 Net Profit to ₹29.00 Crores; Board Recommends ₹1.5 Per Share Dividend

Sahyadri Industries delivered a robust financial performance for the year ended March 31, 2026, with net profit surging to ₹29.00 crores from ₹19.46 crores in the previous year. The Board of Directors, at its meeting held on May 9, 2026—commencing at 1:45 P.M. and concluding at 4:52 P.M.—approved the audited financial results for the quarter and year ended March 31, 2026, along with several significant governance decisions. The statutory auditors, M/s Joshi Apte & Company, issued an unmodified opinion on the annual financial results.

Financial Performance: Revenue and Profitability

Sahyadri Industries recorded total income of ₹684.87 crores for FY26, compared to ₹608.79 crores in FY25. Revenue from operations for the full year stood at ₹676.83 crores against ₹600.53 crores in the prior year. Profit before tax for FY26 came in at ₹38.73 crores versus ₹26.18 crores in FY25, after accounting for an exceptional item of ₹0.64 crores related to a one-time increase in provision for employee benefit expenses following the consolidation of labour legislations by the Government of India. The following table summarises the key financial metrics:

Metric: FY26 (Audited) FY25 (Audited) Revenue from Operations: ₹676.83 crores ₹600.53 crores Other Operating Income: ₹1.90 crores ₹4.69 crores Other Income: ₹6.14 crores ₹3.57 crores Total Income: ₹684.87 crores ₹608.79 crores Total Expenditure: ₹645.50 crores ₹582.61 crores Profit Before Tax: ₹38.73 crores ₹26.18 crores Net Profit: ₹29.00 crores ₹19.46 crores Basic EPS (₹): ₹26.50 ₹17.78 Diluted EPS (₹): ₹26.50 ₹17.78

For the quarter ended March 31, 2026, total income stood at ₹196.53 crores compared to ₹152.57 crores in the corresponding quarter of the previous year. Net profit for the quarter was ₹10.55 crores against ₹4.27 crores in the same quarter of the prior year.

Segment Performance

The company operates across two segments—Building Material and Power Generation. The Building Material segment remained the dominant contributor, with segment revenue of ₹671.68 crores for FY26 compared to ₹594.50 crores in FY25. The Power Generation segment reported revenue of ₹14.44 crores for FY26 versus ₹17.50 crores in the prior year. Segment-wise results before tax and interest are presented below:

Segment: FY26 (Audited) FY25 (Audited) Building Material Revenue: ₹671.68 crores ₹594.50 crores Power Generation Revenue: ₹14.44 crores ₹17.50 crores Building Material Profit: ₹38.61 crores ₹25.33 crores Power Generation Profit: ₹3.30 crores ₹6.98 crores Total Segment Capital Employed: ₹406.09 crores ₹378.29 crores

Balance Sheet Highlights

As at March 31, 2026, Sahyadri Industries' total assets stood at ₹532.10 crores compared to ₹542.91 crores in the prior year. Total equity improved to ₹406.09 crores from ₹378.29 crores, reflecting the strong profitability during the year. A notable reduction in current borrowings—from ₹71.00 crores to ₹16.29 crores—underscores significant deleveraging during FY26. Key balance sheet items are summarised below:

Particulars: March 31, 2026 (Audited) March 31, 2025 (Audited) Total Non-Current Assets: ₹233.87 crores ₹243.32 crores Total Current Assets: ₹298.23 crores ₹299.59 crores Total Assets: ₹532.10 crores ₹542.91 crores Total Equity: ₹406.09 crores ₹378.29 crores Non-Current Borrowings: ₹0.05 crores ₹7.12 crores Current Borrowings: ₹16.29 crores ₹71.00 crores Total Liabilities: ₹126.01 crores ₹164.62 crores

Cash Flow Summary

The company generated strong operating cash flows during FY26. Net cash from operating activities stood at ₹121.34 crores compared to ₹53.89 crores in FY25, driven by improved profitability and working capital management, including a significant reduction in inventories. Net cash used in investing activities was ₹50.35 crores, while net cash used in financing activities was ₹66.20 crores, primarily reflecting repayment of secured loans. Cash and cash equivalents at the close of the year stood at ₹6.72 crores, up from ₹1.93 crores at the start of the year.

Cash Flow Item: FY26 (Audited) FY25 (Audited) Net Cash from Operating Activities: ₹121.34 crores ₹53.89 crores Net Cash from Investing Activities: ₹(50.35) crores ₹(10.80) crores Net Cash from Financing Activities: ₹(66.20) crores ₹(45.62) crores Closing Cash & Cash Equivalents: ₹6.72 crores ₹1.93 crores

Dividend and Expansion Plans

The Board has recommended a final dividend of ₹1.5 per equity share of face value ₹10 each for FY26, subject to approval of members at the ensuing 32nd Annual General Meeting. The book closure and record date for the purpose of dividend payment will be determined later and communicated separately. On the expansion front, the company is in the process of setting up a new unit in Odisha for manufacturing Asbestos Corrugated Sheets with a capacity of 1,20,000 MT. Additionally, activities related to setting up a Non-Asbestos Cement Boards plant in Maharashtra with a capacity of 72,000 MT have been initiated, with land identified and acquisition in process.

Board, Governance, and Committee Changes

The Board approved several governance-related decisions at its May 9, 2026 meeting. Key appointments and re-appointments are summarised below:

Director / Auditor: Change: Term: Mr. Sunil Mahendra Suratwala (DIN: 00490715): Appointed as Additional Director (Non-Executive Independent) 9th May 2026 to 8th May 2031 Mrs. Moushmi Sahil Shaha (DIN: 02915342): Re-appointed as Non-Executive Independent Director (second term) 22nd July 2026 to 21st July 2031 Mr. Ankem Sri Prasad Mohan (DIN: 09413926): Re-appointed as Non-Executive Independent Director (second term) 21st December 2026 to 20th December 2031 M/s Joshi Apte & Company (Firm Reg. No. 104370W): Re-appointed as Statutory Auditors From conclusion of 32nd AGM to conclusion of 37th AGM M/s SPCM & Associates (Firm Reg. No. 112165W): Re-appointed as Internal Auditors FY 2026-27 Dr. Narhar K Nimkar (Membership No. F-6493): Re-appointed as Cost Auditor FY 2026-27

All director appointments and re-appointments are subject to approval of the members of the company. The Board also approved the reconstitution of the Audit Committee, Nomination & Remuneration Committee, Stakeholder Relationship Committee, and CSR Committee with immediate effect. The reconstituted committees are as follows:

Committee: Members: Audit Committee: Mr. Ankem Sri Prasad Mohan (Chairman), Mr. Jayesh Patel, Mrs. Moushmi Shaha, Mr. Sunil Suratwala Nomination & Remuneration Committee: Mr. Ankem Sri Prasad Mohan (Chairman), Mrs. Moushmi Shaha, Mr. Ved Prakash Saxena, Mr. Sunil Suratwala Stakeholder Relationship Committee: Mrs. V P Saxena (Chairman), Mr. Jayesh Patel, Mr. Satyen Patel, Mr. Sunil Suratwala CSR Committee: Mr. Satyen Patel (Chairman), Mr. Jayesh Patel, Mr. Ankem Sri Prasad Mohan, Mr. V P Saxena

Additionally, the notice for the 32nd Annual General Meeting and the Postal Ballot Notice were approved, covering matters including audited financial statements, final dividend, director appointments, and auditor appointments.

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