shashwat furnishing solutions reported a standalone net loss of ₹53.76 lakh for the financial year ended March 31, 2026, compared to a net profit of ₹35.50 lakh in the previous year. Revenue from operations fell sharply by 49.7% to ₹235.53 lakh from ₹468.48 lakh. On a consolidated basis, including its subsidiary Dhruvanshi Agrotech Private Limited, the group posted a net loss of ₹35.52 lakh against a profit of ₹53.87 lakh in FY25, despite consolidated revenue rising to ₹2,395.03 lakh from ₹1,351.51 lakh. The Board of Directors recommended no dividend for the year to preserve capital.

The filing, submitted pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, includes the notice for the 06th Annual General Meeting (AGM) scheduled for August 31, 2026. Shareholders will vote on the adoption of audited financial statements and the re-appointment of Mr. Lalit Ghewarchand Karnawat as Whole-Time Director, who retires by rotation. Statutory auditors M/s A Y & Company issued an unqualified opinion on the financial statements.

A key special resolution seeks shareholder approval under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of SEBI LODR Regulations to sell the company’s entire investment in Dhruvanshi Agrotech Private Limited. The company holds 8,000 equity shares, representing an 80% stake, which it proposes to transfer to Mrs. Mayuri Karnawat and Mr. Piyush Karnawat. The total consideration is ₹27.20 lakh, comprising ₹19.04 lakh for 5,600 shares acquired by Mrs. Karnawat and ₹8.16 lakh for 2,400 shares acquired by Mr. Karnawat. This transaction will result in Dhruvanshi Agrotech ceasing to be a subsidiary.

Financial Performance

The standalone operating loss widened to ₹21.35 lakh from a profit of ₹83.96 lakh in the prior year, driven by higher operating expenses relative to the drop in revenue. Finance costs decreased to ₹13.49 lakh from ₹18.30 lakh. Consolidated revenue growth was primarily driven by the subsidiary’s performance, which reported turnover of ₹2,159.50 lakh and a profit after tax of ₹18.23 lakh.

What the Numbers Show

The divergence between standalone and consolidated results highlights the company’s reliance on its subsidiary for top-line growth while the core parent entity faces margin pressure. While consolidated revenue more than doubled, the group still reported a net loss due to high operating costs and finance charges. The proposed sale of the subsidiary indicates a strategic shift to unlock value and simplify the corporate structure, potentially removing the volatile agrotech segment from future consolidated reporting.

Corporate Governance and AGM Details

The Board comprises six directors, including Chairman and Managing Director Hitesh Karnawat. Key managerial personnel remuneration remained stable, with Hitesh Karnawat receiving ₹6.60 lakh and CFO Mayuri Karnawat receiving ₹4.20 lakh. The company’s authorized capital remains at ₹500 lakh, with issued share capital of ₹208.80 lakh. E-voting for the AGM will be open from August 28 to August 30, 2026, with a cut-off date of August 24, 2026.

Promoter Hitesh Karnawat increased his shareholding in Shashwat Furnishing Solutions Limited by acquiring 9,000 equity shares through an open market transaction on June 23, 2026. This purchase has raised his total stake in the company to 53.87%, strengthening his position as a promoter.

The disclosure was submitted to BSE Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this transaction, Karnawat held 1,115,850 shares, representing 53.44% of the company's total voting capital.

Acquisition Details

The acquisition details outline the shift in shareholding percentages and the specific mode of transaction. The equity share capital of the target company remains unchanged at Rs. 20880000, divided into 2,088,000 equity shares of Rs. 10 each.

Regulatory Filing

The filing confirms that the mode of acquisition was a purchase via the open market. The total diluted share and voting capital of the company remains Rs. 20880000, divided into 2,088,000 equity shares of Rs. 10 each, assuming full conversion of any outstanding convertible securities. The disclosure was signed and submitted by Hitesh Karnawat on June 25, 2026.