Shree Ganesh Remedies Limited reported a significant contraction in earnings for the first quarter of FY26, driven by a steep decline in operating revenue. The company’s net profit after tax fell 67% year-on-year to ₹1.12 crore (₹112.01 lakh) for the quarter ended June 30, 2026, compared to ₹3.45 crore (₹344.94 lakh) in the corresponding period of the previous year.

Revenue from operations declined 42% to ₹14.36 crore (₹1,436.00 lakh), down from ₹24.67 crore (₹2,466.79 lakh) in Q1FY25. Despite the revenue drop, other income increased 42% to ₹93.92 lakh from ₹66.17 lakh in the prior year quarter, providing some offset to the top-line weakness.

Financial Performance Overview

The consolidated financial results mirrored the standalone figures, with consolidated net profit standing at ₹1.12 crore (₹112.01 lakh). Total income for the quarter was ₹15.30 crore (₹1,529.92 lakh), while total expenses stood at ₹13.77 crore (₹1,376.80 lakh).

Expense Breakdown

Cost of materials consumed decreased to ₹8.40 crore (₹839.64 lakh) from ₹8.74 crore (₹874.05 lakh) in Q1FY25. Employee benefit expenses rose modestly to ₹2.93 crore (₹292.90 lakh) from ₹2.70 crore (₹269.83 lakh). Finance costs declined significantly to ₹31.89 lakh from ₹94.01 lakh in the same period last year.

A notable variance appeared in inventory changes, which showed a credit of ₹6.31 crore (₹630.96 lakh) in Q1FY26, compared to a negligible debit of ₹1.27 lakh in Q1FY25. This reduction in inventory value contributed to lower reported expenses for the current quarter.

What the Numbers Show

The divergence between the decline in revenue (-42%) and the smaller decline in total expenses (-34%) indicates margin compression during the quarter. While finance costs and material costs saw absolute reductions, the fixed nature of employee benefits and depreciation (₹2.44 crore) meant that cost savings did not fully align with the top-line contraction. The significant credit from changes in inventories suggests a drawdown in stock levels, which reduced the cost of goods sold impact but may reflect lower production or sales volumes compared to the previous year.

Corporate Actions

During its meeting on August 12, 2026, the Board of Directors approved several administrative appointments:

• Cost Auditor: M/s. M. I. Prajapati & Associates LLP was appointed as Cost Auditors for the financial year 2026-2027, effective from August 12, 2026.
• Scrutinizer: Mr. Vishal Thawani of M/s. VTSN and Associates LLP was appointed as Scrutinizer for the e-voting process at the upcoming 31st Annual General Meeting.
• AGM Notice: The Board approved the Notice for the 31st Annual General Meeting along with the Directors’ Report and its annexures for the year ended March 31, 2026.

The unaudited financial results were reviewed by Chaudhary Shah & Associates LLP, the independent auditors, pursuant to Regulation 33 of the SEBI Listing Regulations. The company’s wholly owned subsidiary, SGRL USA Inc., reported nil revenue and nil net profit for the quarter.

Shree Ganesh Remedies Ltd has appointed Ms. Hiral Ankitkumar Shah as a Non-Executive Independent Director on its Board, effective July 17, 2026. The appointment is for a term of five years, subject to the approval of the shareholders. This strategic addition to the Board aims to strengthen the company's corporate governance framework with Ms. Shah's extensive expertise in legal and secretarial compliance.

The Board of Directors approved the appointment based on the recommendation of the Nomination and Remuneration Committee. The decision was taken in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the applicable provisions of the Companies Act, 2013. Ms. Shah has confirmed that she is not debarred from holding the office of Director by any order of SEBI or other regulatory authorities.

Ms. Hiral Shah is a qualified Company Secretary and holds a Master's degree in Commerce (M.Com.) and a Bachelor of Laws (LL.B.). She possesses over 14 years of experience in corporate governance, legal, secretarial, and regulatory compliance for both private and listed companies. Her expertise includes the administration of the Companies Act, 2013, SEBI Listing Regulations, securities laws, and advising management on regulatory affairs.

Currently, Ms. Shah serves as the Company Secretary and Compliance Officer of UMA Converter Limited. In this role, she oversees secretarial, legal, regulatory, and corporate governance functions, ensuring compliance with applicable laws. The company disclosed that there are no specific relationships between directors requiring disclosure under the current regulations.

The details of the appointment were submitted to BSE Limited under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. A copy of the intimation has been made available on the company's website.

Appointment Details