Shilp Gravures Reports 51% Decline in Q2 FY26 Profit, Reconstitutes Board Committees

Shilp Gravures Limited , a manufacturer of gravure rollers, has reported a significant decline in its standalone profit for the second quarter of fiscal year 2026. The company's financial results, released on November 12, 2025, show a 51% decrease in profit compared to the same period last year.

Financial Performance

For the quarter ended September 30, 2025, Shilp Gravures reported a standalone profit of ₹192.23 lakhs, down from ₹390.95 lakhs in the corresponding quarter of the previous year. Despite the drop in profit, the company's revenue from operations saw a modest increase, rising to ₹2,324.67 lakhs from ₹2,249.41 lakhs year-over-year.

The company's financial performance for Q2 FY26 can be summarized as follows:

Particulars (in lakhs)	Q2 FY26	Q2 FY25	% Change
Revenue from Operations	2,324.67	2,249.41	+3.3%
Total Expenses	2,082.19	1,995.88	+4.3%
Profit Before Tax	263.24	541.61	-51.4%
Net Profit	192.23	390.95	-50.8%

The half-yearly results also reflect a similar trend, with profit for the first six months of FY26 reaching ₹583.18 lakhs, compared to ₹674.29 lakhs in the previous year.

Segment Performance

Shilp Gravures operates in three reportable segments: manufacture of gravure rollers, power generation, and others. The gravure rollers segment continues to be the primary revenue generator for the company. For Q2 FY26, the segment-wise revenue breakdown is as follows:

Gravure rollers: ₹2,194.13 lakhs
Power generation: ₹86.74 lakhs
Others: ₹130.54 lakhs

Board Committee Reconstitution

In addition to the financial results, Shilp Gravures announced the reconstitution of its Audit Committee and Stakeholders Relationship Committee. The new compositions are as follows:

Audit Committee:

Mr. Jayantilal Jhalavadia (Independent Director) - Chairman
Mr. Shailesh Patel (Independent Director) - Member
Mr. Shailesh Shah (Independent Director) - Member
Ms. Jinal Rupani (Independent Director) - Member

Stakeholders Relationship Committee:

Mr. Jayantilal Jhalavadia (Independent Director) - Chairman
Mr. Shailesh Patel (Independent Director) - Member
Ms. Jinal Rupani (Independent Director) - Member

The reconstitution of these committees aims to strengthen the company's corporate governance structure and ensure compliance with SEBI regulations.

Conclusion

While Shilp Gravures has experienced a decline in profitability, the company's revenue growth, albeit modest, suggests resilience in its core business. The management may need to focus on cost optimization and operational efficiency to improve profit margins in the coming quarters. The impact of the reconstituted board committees on the company's performance and governance remains to be seen.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.12%	-3.64%	-14.20%	-13.72%	+31.77%	+188.88%

Shilp Gravures Limited , a company listed on the Bombay Stock Exchange (BSE: 513709), has announced significant changes to its leadership team, effective November 4, 2025. The company's Board of Directors, acting on recommendations from the Nomination and Remuneration Committee, has made two key appointments that aim to enhance its corporate governance and compliance functions.

New Independent Director Appointment

Ms. Jinal Hasmukhbhai Rupani has been appointed as an Additional Independent Director in the category of Non-Executive Director. Her appointment is for a term of five consecutive years, subject to shareholder approval.

Key Details of Ms. Rupani's Appointment:

Aspect	Details
Name	Ms. Jinal Hasmukhbhai Rupani
DIN	11029766
Position	Additional Non-executive Independent Director
Effective Date	November 4, 2025
Term	Five consecutive years (subject to shareholder approval)
Educational Background	Commerce graduate from Saurashtra University, Chartered Accountant
Additional Certifications	JAIIB and CAIIB from Indian Institute of Banking and Finance (IIBF)
Experience	Over a decade in consultancy, finance, and banking
Relationship with other directors	Not related to any director of the company
Regulatory Compliance	Not debarred from holding directorship by SEBI or any other authority

New Company Secretary and Compliance Officer

In addition to Ms. Rupani's appointment, the company has also named Mr. Jay Rajendrabhai Chavda as its new Company Secretary and Compliance Officer, designated as a Key Managerial Personnel.

Key Details of Mr. Chavda's Appointment:

Aspect	Details
Name	Mr. Jay Rajendrabhai Chavda
Membership No.	A63127
Position	Company Secretary & Compliance Officer (Key Managerial Personnel)
Effective Date	November 4, 2025
Professional Qualification	Associate member of the Institute of Company Secretaries of India (ICSI)
Educational Background	Law and Commerce graduate from recognized universities
Experience	More than five years in corporate law and secretarial practices

These appointments come as part of Shilp Gravures' efforts to strengthen its corporate governance structure and ensure compliance with regulatory requirements. The diverse experience and qualifications of both Ms. Rupani and Mr. Chavda are expected to contribute significantly to the company's leadership team.

The appointments have been disclosed in compliance with Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders and market participants will be watching closely to see how these new additions to the leadership team influence the company's future direction and governance practices.