Surat Trade FY26 revenue rises, profit declines

Surat Trade and Mercantile reported a net profit of ₹1097.60 lakh for the financial year ended March 31, 2026, a decline from ₹1166.01 lakh in the previous year. Revenue from operations for FY26 rose to ₹11134.58 lakh compared to ₹6863.70 lakh in FY25. For the quarter ended March 31, 2026, the company recorded a net loss of ₹43.50 lakh, contrasting with a profit of ₹250.51 lakh in the preceding quarter. The Board of Directors at its meeting held on May 26, 2026, approved the re-appointment of Mr. Suhail P. Shah as Wholetime Director designated as Executive Director. The company published its audited financial results in Loksatta and The Indian Express on May 27, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company’s total income for FY26 stood at ₹12513.14 lakh, up from ₹8346.14 lakh in the previous year. Total expenses increased to ₹11113.79 lakh from ₹7417.55 lakh in FY25. The board approved the audited financial results prepared under Indian Accounting Standards (Ind AS). Statutory auditors M/s Sharp & Tannan Associates issued an unmodified opinion on the results.

Particulars	Year Ended 31/03/2026 (₹ in Lakhs)	Year Ended 31/03/2025 (₹ in Lakhs)
Revenue from Operations	11134.58	6863.70
Total Income	12513.14	8346.14
Total Expenses	11113.79	7417.55
Net Profit for the Year	1097.60	1166.01
Earnings Per Share (Basic)	0.49	0.53

Board Decisions and Appointments

The Board approved the re-appointment of Mr. Suhail P. Shah as Wholetime Director designated as Executive Director for a period of five years effective from September 1, 2026, subject to shareholder approval. Mr. Shah holds a Postgraduate degree and a Doctorate in Theoretical Physical Chemistry from The University of Chicago and has over 10 years of experience in research. He is related to Mr. Alok P. Shah, the Managing Director, as a brother. Ms. Ankita Prasiddha Shroff was appointed as Company Secretary and Compliance Officer effective May 26, 2026. Additionally, M/s K. S. Jagirdar & Co., Chartered Accountants, were re-appointed as Internal Auditors for the year 2026-27.

Operational Notes

The company recognized an impairment loss of ₹30.54 lakhs during the year regarding the reclassification of certain land and buildings as Investment Property. The figures for the quarter ended March 31, 2026, are balancing figures between the audited full-year results and the limited reviewed year-to-date figures.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.56%	-0.45%	-2.43%	-18.93%	-35.15%	-4.96%

Surat Trade and Mercantile Limited has re-appointed M/s K. S. Jagirdar & Co. as its Internal Auditor for the financial year 2026-27. The re-appointment ensures continuity in the company's internal audit oversight for the upcoming fiscal year. The decision was taken during a board meeting held on May 26, 2026, based on the recommendation of the Audit Committee.

The appointment is in accordance with Section 138 of the Companies Act, 2013. The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the size and quality of audit services provided by the firm are commensurate with its operational requirements.

M/s K. S. Jagirdar & Co. brings extensive experience to the role, with the firm having more than 30 years of practice as Chartered Accountants. Their expertise covers internal audit, taxation, GST, and corporate finance. The firm was originally appointed by the Board at its meeting held on May 26, 2025.

Details of Appointment

The following table outlines the key details regarding the re-appointment of the internal auditor:

Sr. No.	Details of events	Appointment of Internal Auditors
1	Reason for change	Re-appointment
2	Date of appointment & term	The Board at its meeting held on 26th May 2025, on recommendation of Audit Committee approved re-appointment of M/S K.S. Jagirdar & Co. Chartered Accountants, as the Internal Auditors of the Company to carry out the Audit for the Financial Year 2026-27.
3	Brief Profile	Mr. K S Jagirdar has more than 30 years of experience as a Practicing Chartered Accountant firm with expertise in Internal Audit, taxation, GST and corporate finance. The size, quality of audit services and volume of operations of KSJ is commensurate with the size and audit requirements of the Company.
4	Disclosure of relationships	Not applicable
5	Information as per BSE/NSE circular	Not applicable