Shyam Dhani Industries targets ₹300 Cr turnover in 3 years

Shyam Dhani Industries Limited aims to achieve a business turnover of ₹300 Cr over the next three years, targeting an annual growth rate of 25-30%. The company reported a turnover of ₹146.22 Cr in FY26, representing a 17% year-on-year growth. This growth strategy is designed to capitalize on rising consumer demand for healthy and high-quality spices, leveraging the company's 'Shyam' brand which offers over 163 varieties across General Trade, Modern Trade, Quick Commerce, Export, Private Label, and HoReCa segments.

Financial Performance

The company's financial results for FY26 indicate a strong foundation for its expansion plans. The total income for the period stood at ₹146.22 Cr, supported by operational efficiencies and a modern manufacturing infrastructure.

Metric	Amount (₹ Cr)
Total Income	146.22
EBITDA	16.95
PAT	8.54

Strategic Expansion

The four-pronged growth strategy involves expanding the Kirana and multi-brand retail network across the country, strengthening the base in the e-commerce market, and increasing exports to international markets including China, the Middle East, and Europe. To support this expansion, the company has established a modern spice processing plant in Jaipur equipped with cool-grinding technology, which has been operational since March 2025. This technology helps preserve the herbal value of the spices, ensuring product quality.

Quality and Sustainability

Shyam Dhani Industries Limited has adopted Integrated Pest Management (IPM) practices to enhance spice quality and support traditional farming among farmers. By encouraging farmers to follow traditional farming methods that avoid restricted pesticides, the company aims to consistently deliver superior quality products. This commitment to sustainable and quality-driven sourcing is intended to position the company well to capture the growing health-conscious consumer base both in India and abroad.

Operational Milestones

Established on October 19, 2010, in Jaipur, Rajasthan, the company transitioned from a private limited entity to a public limited company on October 8, 2024. It achieved a significant milestone in December 2025 by listing on the National Stock Exchange of India (NSE). The company operates a modern manufacturing facility in Manpura road, Jatawali, Near Delhi Bypass, Tehsil Chomu, Jaipur, and sources raw materials directly from mandis and suppliers across the country to ensure quality and consistency.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	-0.16%	-4.34%	-41.24%	-54.24%	-54.24%

Shyam Dhani Industries reported a 6.1% rise in net profit to ₹853.70 lakh for the financial year ended March 31, 2026, driven by a 16.9% increase in revenue from operations to ₹14,577.23 lakh. The company’s board approved the audited financial results for the half year and full year on May 27, 2026, alongside the statement of assets and liabilities and cash flow statement. The statutory auditors, M/s G.L. Dangayach & Co., issued an audit report with an unmodified opinion on the results.

Financial Performance

For the year ended March 31, 2026, the company’s total income stood at ₹14,621.88 lakh, up from ₹12,475.41 lakh in the previous year. Profit before tax for the year increased to ₹1,130.55 lakh from ₹1,077.79 lakh in FY25. Basic earnings per share (EPS) for the year were recorded at ₹5.20, compared to ₹5.41 in the prior year.

For the half year ended March 31, 2026, revenue from operations were ₹8,199.27 lakh, with a net profit of ₹433.67 lakh. The EPS for this half year was ₹2.64.

Particulars	Year Ended March 31, 2026 (₹ in Lakhs)	Year Ended March 31, 2025 (₹ in Lakhs)
Revenue From Operations	14,577.23	12,468.04
Total Income	14,621.88	12,475.41
Total Expenses	13,491.33	11,397.62
Profit Before Tax	1,130.55	1,077.79
Net Profit	853.70	804.16
Basic EPS (₹)	5.20	5.41

IPO Proceeds Utilization

During the six months ended March 31, 2026, the company completed an Initial Public Offering (IPO) of 54,98,000 equity shares with a face value of ₹10 each at an issue price of ₹70 per share. The shares were listed on NSE Emerge on December 30, 2025. The total issue proceeds amounted to ₹3848.60 lakh.

As of March 31, 2026, the company utilized ₹2547.96 lakh of the proceeds, leaving ₹1300.64 lakh unutilized and lying in fixed deposits. The primary utilization included ₹1000.00 lakh for the repayment of borrowings and ₹576.00 lakh for funding incremental working capital requirements.

Sr. No	Object	Amount Disclosed (₹ in Lakhs)	Utilized (₹ in Lakhs)	Unutilized (₹ in Lakhs)
1	Funding incremental working capital	1326.00	576.00	750.00
2	Repayment of borrowings	1000.00	1000.00	0.00
3	Brand Creation and Marketing	635.63	287.95	347.68
4	Capital Expenditure	163.06	25.00	138.06
5	Solar Rooftop Plant	64.90	0.00	64.90
6	General Corporate Purpose	257.32	257.32	0.00
7	Issue related expenses	401.69	401.69	0.00
Total		3848.60	2547.96	1300.64

Balance Sheet and Cash Flows

The company’s total assets as of March 31, 2026, stood at ₹11847.78 lakh, compared to ₹8247.30 lakh in the previous year. Shareholders' funds increased to ₹6861.35 lakh from ₹2360.54 lakh, largely due to the proceeds from the share issue. Cash and cash equivalents decreased to ₹24.33 lakh from ₹34.84 lakh, while other bank balances were recorded at ₹1216.61 lakh.

The net cash flow from operating activities was negative at ₹(838.34) lakh, primarily due to changes in working capital. Net cash flow from investing activities was ₹(1328.42) lakh, while financing activities resulted in a net inflow of ₹2156.25 lakh, driven by the proceeds from the issue of share capital.