Shahi Shipping Limited has announced its unaudited financial results for the third quarter ended December 31, 2025, revealing challenging operational performance with significant losses during the period. The company's Board of Directors approved these results during their meeting held on February 11, 2026, at the registered office in Mumbai.

Financial Performance Overview

The company reported a net loss of ₹45.82 lakhs for Q3 FY26, marking a sharp decline from the profit of ₹0.97 lakhs recorded in the same quarter of the previous fiscal year. This represents a significant deterioration in the company's financial performance year-over-year.

Revenue and Operational Analysis

Revenue from operations declined substantially to ₹166.98 lakhs in Q3 FY26 from ₹248.25 lakhs in Q3 FY25. Total revenue, including other income of ₹2.87 lakhs, stood at ₹169.85 lakhs compared to ₹251.10 lakhs in the corresponding previous quarter.

Expense Structure

Total expenses for the quarter amounted to ₹225.01 lakhs, compared to ₹250.87 lakhs in Q3 FY25. The expense breakdown shows:

Nine-Month Performance

For the nine months ended December 31, 2025, Shahi Shipping Limited recorded a net loss of ₹113.22 lakhs compared to a loss of ₹119.91 lakhs in the corresponding period of the previous year. Revenue from operations for the nine-month period was ₹486.86 lakhs, significantly lower than ₹750.92 lakhs in the same period last year.

Earnings Per Share and Capital Structure

The company reported a basic and diluted earnings per share of (₹0.32) for Q3 FY26, compared to ₹0.01 in Q3 FY25. The paid-up equity share capital remained unchanged at ₹1,449.49 lakhs with a face value of ₹10 per share.

Regulatory Compliance and Auditor Review

The financial results were reviewed by the Audit Committee and subjected to limited review by statutory auditors B. P. Shah & Co., Chartered Accountants. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. The company operates in a single reportable segment of shipping business.

Shahi Shipping Limited has disclosed detailed related party transactions for the half-year period ended September 30, 2020, under regulatory compliance requirements. The company reported multiple transactions with group entities and key management personnel totaling significant amounts across various categories.

Major Loan Transactions with Group Companies

The company's most substantial transactions involved loan arrangements with affiliated entities. The following table summarizes the key loan activities:

All loan transactions were reported as interest-free and unsecured arrangements, designated for business purposes. The company also engaged in minor loan transactions with Royal Logistics Ltd, involving a repayment of ₹27,700.

Management Remuneration and Compensation

The company disclosed remuneration payments to key personnel during the reporting period:

The remuneration structure reflects the company's compensation framework for its leadership team and key management personnel.

Advances and Other Transactions

Shahi Shipping also reported advance transactions with related parties:

• Advance to Sarvesh Kumar Shahi: ₹71,81,344 (closing balance)
• Advance to Somesh Kumar Shahi: ₹65,000 (net advance paid)
• Advance received from Somesh Kumar Shahi: ₹50,000

These advance arrangements demonstrate the financial interactions between the company and its key stakeholders.

Regulatory Compliance and Transparency

The disclosure covers transactions with entities connected through common directors, including India First Logistics Ltd, Royal Logistics Ltd, and Shahi Gasol Ltd. All transactions were conducted for business purposes and represent the company's operational and financial relationships with related parties. The comprehensive nature of the disclosure reflects the company's commitment to regulatory compliance and transparency in related party dealings.