Shiva Mills Limited has announced significant changes in its senior management personnel, disclosing both a resignation and a new appointment under SEBI Regulation 30. The company communicated these developments to the National Stock Exchange of India Limited and BSE Limited on April 1, 2026.

Senior Management Transition

The company has experienced a leadership transition with the departure of one senior executive and the simultaneous appointment of another. These changes reflect the company's commitment to maintaining operational continuity while addressing personnel transitions.

Outgoing General Manager

Sri V A Om Prakash Babu tendered his resignation from his position as General Manager, a Senior Management Personnel of the company. His resignation became effective from the close of business hours on March 31, 2026. In his resignation letter, he confirmed his inability to continue services with the company due to personal reasons and assured an orderly handover of responsibilities in line with company requirements.

New Senior General Manager Appointment

The Board of Directors, acting on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Sri P Solairaj as Senior General Manager through a Resolution passed by Circulation on March 31, 2026. The appointment took effect from April 1, 2026.

Profile of New Appointee

Sri P Solairaj brings extensive industry expertise to his new role, having served in various positions throughout the textile industry over more than three decades. His educational background in Textile Technology aligns with the company's core business operations.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated January 30, 2026. The company provided comprehensive details as required under the regulatory framework, including the reasons for change, dates of cessation and appointment, and the brief profile of the new appointee.

Shiva Mills announced its unaudited financial results for the quarter ended 31st December 2025, showing a net loss of ₹70.97 lakhs compared to ₹146.97 lakhs loss in the corresponding quarter of the previous year. Despite the year-on-year improvement in losses, the company faced revenue challenges with declining operational performance.

Quarterly Financial Performance

The company's revenue from operations declined to ₹3,425.81 lakhs in Q3FY26 from ₹3,597.73 lakhs in Q3FY25, representing a decrease in top-line performance. Total income, including other income of ₹39.34 lakhs, stood at ₹3,465.15 lakhs for the quarter.

Cost Structure and Expenses

Total expenses for Q3FY26 amounted to ₹3,553.97 lakhs compared to ₹3,780.98 lakhs in Q3FY25. The major expense components included cost of materials consumed at ₹2,317.51 lakhs, employee benefits expense of ₹374.42 lakhs, and other expenses of ₹425.99 lakhs. The company reported changes in inventories of ₹245.34 lakhs during the quarter.

Nine-Month Performance Analysis

For the nine-month period ended 31st December 2025, Shiva Mills reported improved performance with a net loss of ₹149.57 lakhs compared to ₹304.29 lakhs loss in the corresponding period of the previous year. However, revenue from operations declined significantly to ₹10,226.27 lakhs from ₹12,826.65 lakhs in the previous year.

Earnings Per Share and Other Metrics

The company reported basic and diluted earnings per share of ₹(0.82) for Q3FY26 compared to ₹(1.70) in Q3FY25. For the nine-month period, earnings per share stood at ₹(1.73) compared to ₹(3.52) in the previous year. The paid-up equity share capital remained unchanged at ₹864.18 lakhs with a face value of ₹10 per share.

Board Meeting and Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 5th February 2026. The board meeting commenced at 3:00 PM and concluded at 4:50 PM. The results have been prepared in accordance with Indian Accounting Standards and were subject to limited review by statutory auditors VKS Aiyer & Co., Chartered Accountants, Coimbatore. The company operates solely in the textile business segment and does not have any subsidiaries or associates.