Sidh Automobiles Limited reported a net loss of ₹21.49 lakh for the financial year ended March 31, 2026 (FY26), marking a sharp reversal from the net profit of ₹275.93 lakh recorded in FY25. The decline was driven by a contraction in operating revenue and the absence of non-operating income that had supported profitability in the previous year.

Financial Performance

The company’s sales turnover fell to ₹20.81 lakh in FY26, down from ₹29.16 lakh in FY25. More critically, other income dropped to ₹0.00 lakh, a stark contrast to the ₹206.38 lakh recorded in the prior period. Total income consequently declined to ₹20.84 lakh from ₹342.70 lakh. Against this backdrop, total expenditure rose to ₹42.33 lakh from ₹10.00 lakh, resulting in a pre-depreciation loss of ₹21.49 lakh.

Depreciation charges remained at ₹0.00 lakh for both periods. With no tax liability incurred due to the loss position, the net loss after tax stood at ₹21.49 lakh. The Board did not recommend any dividend for FY26.

What the Numbers Show

The shift from profit to loss highlights a heavy dependency on non-operating income for past profitability. In FY25, other income of ₹206.38 lakh constituted approximately 60% of total income and was the primary driver of the ₹275.93 lakh net profit. In FY26, with other income dropping to nil, the core operations—where expenditure (₹42.33 lakh) exceeded sales turnover (₹20.81 lakh)—emerged as the sole determinant of financial performance, revealing an underlying operational deficit.

Corporate Governance and Board Changes

Sidh Automobiles is classified as a Non-Banking Financial Company (NBFC) and continues to comply with Reserve Bank of India guidelines. The company has not accepted any public deposits during the year under review.

Significant changes occurred in the Board composition during FY26. Mr. Anil Sharma resigned as Managing Director in February 2025, and Mr. Jignesh Keshav Barot stepped down as Chief Financial Officer on the same date. Mr. Shahabaz Nisar Ahmed Shaikh was appointed as Managing Director and CFO effective May 25, 2026. His appointment will be regularized at the upcoming 41st Annual General Meeting scheduled for September 11, 2026.

Due to inadequate profits within the meaning of Section 198 of the Companies Act, 2013, Mr. Shaikh will receive nil remuneration unless approved by members in accordance with Schedule V provisions. Other independent directors, including Ms. Rinku Saini and Mr. Jubin Premji Gada, were appointed or reappointed during the year.

Operational Highlights

The company maintains an authorized share capital of ₹30 crore, with issued, subscribed, and paid-up capital standing at ₹2.96 crore. There were no changes in share capital during FY26. Sidh Automobiles confirmed it has no subsidiaries, joint ventures, or associate companies. The secretarial audit report noted compliance with applicable statutory provisions, though it highlighted previous discrepancies that management has since addressed.

Mallinath Madineni and persons acting in concert (PAC) have acquired a 4.90% stake in Sidh Automobiles through an off-market transaction. The acquisition, executed on August 17, 2026, involved the purchase of 1,45,114 equity shares, raising the group’s total holding in the company to 23.86%.

The disclosure was submitted under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that the acquirers are not part of the promoter or promoter group of Sidh Automobiles.

Acquisition Details

The following table outlines the shareholding structure before and after the transaction:

The group’s holding prior to this transaction stood at 561,800 shares, representing 18.96% of the total voting capital. Following the purchase of 1,45,114 additional shares, the total holding increased to 706,914 shares.

Acquirer Composition

The persons acting in concert with Mallinath Madineni include:

• Santan Investment Advisory LLP
• Prathima Madineni
• Tanush Madineni

Sidh Automobiles has an equity share capital of 2,962,300 equity shares of ₹10 each. The total diluted share/voting capital remains unchanged at 2,962,300 equity shares following this acquisition.