Shelter Infra Projects Limited reported a net loss of ₹4.55 lakh for the financial year ended March 31, 2026, reversing a net profit of ₹23.18 lakh recorded in FY25. The Kolkata-based infrastructure firm saw its total income decline to ₹235.93 lakh from ₹256.46 lakh in the previous year.

The board of directors approved the standalone audited results and proposed convening the company’s 54th Annual General Meeting (AGM) on September 28, 2026. The meeting will be held via video conference at the registered office in Salt Lake City.

Financial Performance

Total income for FY26 stood at ₹235.93 lakh, down from ₹256.46 lakh in FY25. EBITDA contracted sharply to ₹6.05 lakh from ₹34.05 lakh in the prior year. Finance charges decreased slightly to ₹0.31 lakh from ₹0.50 lakh, while depreciation remained stable at ₹9.54 lakh compared to ₹9.49 lakh.

The company did not declare any dividend for the year due to operating losses. No amount was transferred to reserves.

What the Numbers Show

The divergence between revenue decline and EBITDA contraction highlights margin pressure. While total income fell by approximately 8%, EBITDA dropped by nearly 82%. This suggests that cost structures or operational efficiencies deteriorated significantly relative to top-line performance during the period.

Corporate Governance & AGM Details

The board appointed Ms. Vandana Nahata of M/s Vandana Nahata & Co. as the scrutinizer for the e-voting process. The register of members and share transfer books will remain closed from September 22 to September 28, 2026. The cut-off date for voting rights is September 21, 2026.

Ms. Soma Saha has been recommended for appointment as Secretarial Auditor for five consecutive years, starting from FY26. The statutory auditor, M/s Basu Chanchani & Deb (now BCAG & Associates), was re-appointed for a second term of five years.

There were changes in key managerial personnel during the year. Ms. Sushmita Neogy ceased to hold office as Company Secretary on September 25, 2025, and Mr. Dharmendra Singh was appointed to the role effective March 17, 2026.

AGM Agenda & Related Party Transactions

The 54th AGM will transact ordinary business, including the re-appointment of Mr. Sankalan Datta as a director liable to retire by rotation. Under special business, shareholders will vote on a special resolution to approve related-party transactions up to ₹500 crore per annum.

Key related-party disclosures include:

Members who are related parties will not be eligible to vote on this resolution. The remote e-voting period begins on September 24, 2026, at 9:00 am and ends on September 27, 2026, at 5:00 pm.

Board Updates

At its meeting held on August 31, 2026, the board considered and approved updated company policies. The meeting also confirmed the appointment of Ms. Vandana Nahata as scrutinizer for the upcoming AGM.

Shelter Infra Projects Limited reported a net loss of ₹1.29 lakh for the quarter ended June 30, 2026, marking a significant deterioration from the net profit of ₹12.56 lakh recorded in the corresponding period of FY26. The Kolkata-based infrastructure firm saw its revenue from operations contract to ₹55.11 lakh, down from ₹59.24 lakh year-on-year, as high general and administrative expenses outweighed operational income. The Board of Directors approved the unaudited financial results on August 11, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company’s financial performance was heavily influenced by rising overhead costs and lackluster activity in its core construction division. While the rental segment contributed ₹54.92 lakh in revenue during the same quarter of FY26, it generated ₹55.11 lakh in Q1FY27, providing a stable cash flow base. However, this was insufficient to offset the ₹35.76 lakh spent on general and administrative expenses, which surged significantly compared to ₹27.03 lakh in Q1FY26. The construction activities segment, which had shown minimal revenue, continued to incur losses, recording a segmental result of (₹15.15) lakh.

Financial Highlights

Segment Performance

The divergence between the company’s two primary business segments highlights the structural challenges facing Shelter Infra Projects. The rental business remains the sole profit center, generating a segmental profit of ₹34.41 lakh in Q1FY27, up from ₹33.71 lakh in Q1FY26. This resilience in the rental portfolio contrasts sharply with the construction activities segment, which posted a loss of ₹15.15 lakh, worsening from a loss of ₹10.14 lakh in the previous year’s corresponding quarter.

Unallocable expenditures further pressured the bottom line. Other unallocable expenditure net off rose to ₹20.31 lakh in Q1FY27 from ₹8.17 lakh in Q1FY26. This increase, coupled with finance costs of ₹0.08 lakh and depreciation expenses of ₹2.37 lakh, eroded the operating surplus generated by the rental division. The total comprehensive income for the period stood at (₹1.37) lakh, reflecting both the net loss and other comprehensive income items that will not be reclassified to profit or loss.

What the Numbers Show

The widening net loss despite relatively stable rental revenue points to an efficiency crisis within the company’s cost structure. General and administrative expenses increased by nearly 32% year-on-year, outpacing any growth in operational output. With construction activities contributing zero revenue but accumulating losses, the company appears to be carrying significant fixed costs without corresponding project execution. The segmental data reveals that while the rental business is healthy, it is not yet large enough to absorb the drag from the unprofitable construction wing and rising corporate overheads. Investors should monitor whether management plans to divest or restructure the loss-making construction segment to improve overall profitability.

Regulatory Disclosures

The financial results were reviewed by the Audit Committee and approved by the Board of Directors on August 11, 2026. BCAG & Associates, Chartered Accountants, issued a limited review report stating that nothing came to their attention to cause them to believe that the statement did not disclose the information required under Regulation 33 of the SEBI (LODR) Regulations, 2015. The figures for the quarter ended March 31, 2026, are balancing figures between audited full-year figures and unaudited year-to-date figures up to the third quarter. The company also disclosed that a contract cancellation matter with the Military Engineering Services (MES), Kolkata Zone, remains sub judice before the Alipore Court.