Shubham Polyspin posted a 46.87% year-on-year increase in profit after tax (PAT) to ₹102.56 lakh for FY26, driven by improved operational efficiency despite a slight decline in revenue. The company has also scheduled its 14th Annual General Meeting (AGM) for September 30, 2026.

Revenue from operations fell 2.54% to ₹5,117.56 lakh from ₹5,250.71 lakh in the previous year. However, EBITDA expanded by 16.87% to ₹341.13 lakh, reflecting better cost management. The directors did not recommend any dividend for the year.

Financial Performance

The company’s profitability improved significantly due to reduced expenses. Profit before tax (PBT) rose 60.13% to ₹145.13 lakh from ₹90.63 lakh in FY25. Return on equity (ROE) increased to 6.20% from 4.45%.

What the Numbers Show

While top-line growth contracted, the divergence between declining revenue and rising EBITDA indicates successful operational leverage. The company managed to boost margins by controlling costs, even as domestic sales faced headwinds. Export sales grew to ₹1,366.09 lakh from ₹1,003.45 lakh, partially offsetting the drop in domestic sales which fell to ₹1,521.56 lakh from ₹2,006.43 lakh.

AGM and Governance

The 14th AGM will be held at the registered office in Mehsana, Gujarat, with provisions for video conferencing. Key agenda items include:

• Adoption of audited financial statements for FY26.
• Reappointment of Ankit Anil Somani as a director liable to retire by rotation.
• Reappointment of M/s. Jain P. C. & Associates as statutory auditors until the 19th AGM.

E-voting will be open from September 27 to September 29, 2026. Shareholders holding shares as on September 23, 2026, are eligible to vote. Mr. Manoj Hurkat has been appointed as the scrutinizer.

Balance Sheet and Cash Flow

Net debt increased marginally to ₹844.23 lakh from ₹829.59 lakh. Total borrowings stood at ₹844.23 lakh, comprising non-current borrowings of ₹206.52 lakh and current borrowings of ₹637.70 lakh. Cash and cash equivalents decreased significantly to ₹55.69 lakh from ₹202.00 lakh, primarily due to capital expenditures of ₹255.90 lakh on property, plant, and equipment.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE01J501010/6f41b527-f5e3-49da-ad3b-eb4b9ab68530.pdf

Shubham Polyspin Limited has received a clean secretarial compliance report for the year ended 31st March, 2026, with no deviations or violations observed under applicable SEBI regulations. The report was issued by Manoj Hurkat & Associates, Practicing Company Secretaries (FRN: P2011GJ025800), and is dated 14th May, 2026, from Ahmedabad. The review was conducted in terms of Regulation 24A(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Scope of Examination

The secretarial compliance review covered all documents, records, filings, and submissions made by Shubham Polyspin Limited to the stock exchanges, as well as the company's website and other relevant documents during the review period. The examination encompassed compliance with the following SEBI regulations:

• Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
• Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
• Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018
• Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
• Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021
• Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015

No Deviations or Violations Recorded

The practicing company secretaries confirmed that Shubham Polyspin Limited complied with all applicable SEBI regulations and circulars during the review period, with NIL deviations or violations reported. Similarly, no pending observations from previous secretarial compliance reports were carried forward, as the table of prior observations also recorded NIL entries.

Key Governance Compliance Parameters

The report assessed compliance across thirteen specific governance parameters. The following table summarises the compliance status as reported:

Notably, the company confirmed that none of its directors are disqualified under Section 164 of the Companies Act, 2013. The company does not have any subsidiary, rendering subsidiary-related disclosures not applicable.

Scope Limitations and Assumptions

The report was prepared with certain defined limitations. The practicing company secretaries clarified that the compliance of applicable laws and the authenticity of documents furnished remain the responsibility of the management of Shubham Polyspin Limited. The report is based solely on an examination of relevant documents and information and does not constitute an audit or an expression of opinion. Financial records and books of account were not verified as part of this review. The report is intended solely for compliance purposes under Regulation 24A(2) of the SEBI (LODR) Regulations, 2015 and does not represent an assurance on the future viability of the company or the effectiveness of its management.

The report was signed by Manoj R Hurkat, Partner, Manoj Hurkat & Associates, bearing FCS No. 4287, C P No.: 2574, and UDIN: F004287H000342977, from Ahmedabad, dated 14th May, 2026.