Shahi Shipping Limited narrowed its net loss to ₹181.96 crore for the financial year ended March 31, 2026, compared to a loss of ₹356.64 crore in the previous year. Revenue from operations fell to ₹645.54 crore from ₹1,057.93 crore in FY25, primarily driven by the shipping business segment. The company’s Board of Directors approved the audited financial results for the fourth quarter and the year ended March 31, 2026, at a meeting held on May 28, 2026.

The company reported a total comprehensive loss of ₹182.40 crore for FY26. For the quarter ended March 31, 2026, Shahi Shipping posted a net loss of ₹68.74 crore on a total revenue of ₹160.46 crore. Basic and diluted earnings per share for the year stood at a loss of ₹1.26, improving from a loss of ₹2.46 in the prior year.

Financial Performance

Auditor Observations

B. P. Shah & Co., the statutory auditors, issued a modified opinion on the standalone financial results. The report highlighted that the company has not established internal financial controls over financial reporting based on criteria laid down in the Guidance Note issued by the Institute of Chartered Accountants of India. Consequently, the auditors were unable to obtain sufficient appropriate audit evidence regarding the adequacy of these internal controls as of March 31, 2026.

Exceptional Items and Liabilities

The financial statements include an exceptional item of ₹5.69 lakh, representing the estimated incremental impact on retiral benefits due to the new Labour Codes notified by the Government of India. The company faces several contingent liabilities, including a service tax demand of ₹7.17 crore for the period 2009 to 2017, which is under appeal, and a State GST demand of ₹14.13 lakh for FY 2017-18. Additionally, the company received an income tax demand of ₹16.57 lakh for Assessment Year 2020-21, against which it has preferred an appeal.

Shahi Shipping Limited has submitted its compliance certificate under SEBI depositories regulations for the fourth quarter of FY26, demonstrating adherence to regulatory requirements for securities handling and dematerialization processes.

Regulatory Compliance Submission

The company submitted the compliance certificate under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 to BSE Limited on April 15, 2026. The certificate covers the fourth quarter ended March 31, 2026.

Certificate Issuer and Confirmation

The compliance certificate was issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), which serves as the Registrar and Share Transfer Agent (RTA) for Shahi Shipping Limited. The certificate was dated April 3, 2026, and signed by Ashok Shetty, Sr. Vice President-Corporate Registry.

Compliance Confirmation Details

The certificate confirms several key compliance aspects for the quarter:

• Securities received from depository participants for dematerialization were properly confirmed (accepted/rejected) to the depositories
• Securities comprised in the certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received for dematerialization were confirmed/rejected within prescribed timelines
• Security certificates were mutilated and cancelled after due verification by the depository participant
• Names of depositories were substituted in the register of members as registered owners within prescribed timelines

Corporate Communication

The submission was made by Sarvesh Kumar Shahi, Managing Director (DIN: 00359535), who digitally signed the communication on April 15, 2026. The company maintains its registered office at 404, Abhay Steel House, Baroda Street, Mumbai - 400009, and operates under ISO 9001-2008 certification.

This regulatory submission reflects the company's ongoing commitment to maintaining compliance with SEBI regulations governing depositories and participant operations, ensuring proper handling of securities dematerialization processes during the quarter.