Shiva Global Agro Industries Reports Strong Q1 Performance with 61% Revenue Growth

Shiva Global Agro Industries has reported a robust financial performance for the first quarter, demonstrating significant growth in revenue and a turnaround in profitability.

Standalone Performance Highlights

The company's standalone revenue from operations surged to ₹35.93 crore, marking a substantial 61% increase from ₹22.35 crore in the corresponding quarter of the previous year. This impressive growth underscores Shiva Global Agro Industries' strong market position and effective business strategies.

The company also witnessed a remarkable improvement in its bottom line, reporting a net profit of ₹2.11 crore for the quarter, compared to a loss of ₹3.36 crore in the same period last year. This turnaround in profitability reflects the company's enhanced operational efficiency and cost management efforts.

Segment-wise Performance

The company's primary business segment, Fertilizers, emerged as the key driver of growth. The Fertilizers segment generated revenue of ₹35.44 crore, contributing significantly to the overall performance. Additionally, the Other agricultural commodities segment reported revenue of ₹49.05 lakh, further diversifying the company's income streams.

Consolidated Results

On a consolidated basis, Shiva Global Agro Industries reported revenue from operations of ₹77.91 crore. While this represents a decrease from ₹92.75 crore in the same quarter last year, it's important to note that the current quarter's results are not directly comparable due to changes in the group structure.

The consolidated net profit attributable to shareholders stood at ₹2.42 crore, a significant improvement from a loss of ₹3.59 crore in the corresponding quarter. This positive shift in profitability at the group level aligns with the standalone performance, indicating a broader recovery across the business.

Financial Position

As of the end of the quarter, Shiva Global Agro Industries maintained a strong financial position. The company's standalone total assets stood at ₹103.42 crore, with the Fertilizers segment accounting for ₹101.62 crore of the asset base. Total liabilities were reported at ₹29.95 crore, primarily associated with the Fertilizers segment.

Management Commentary

Omprakash K. Gilda, Managing Director of Shiva Global Agro Industries Ltd., stated, "We are pleased with our performance in the first quarter. The significant growth in our standalone revenue and the turnaround in profitability demonstrate the resilience of our business model and the effectiveness of our strategic initiatives. We remain committed to delivering value to our shareholders and contributing to the agricultural sector."

The company's Board of Directors approved these unaudited financial results at their meeting. The statutory auditors, M/s. Falor Jhavar Khatod & Co., have carried out a limited review of the financial results and issued an unmodified report.

Shiva Global Agro Industries continues to focus on its core segments of Fertilizers, Solvent, and Other agricultural commodities, positioning itself for sustained growth in the agro-industry sector.