Shree Precoated Steels Reports Q1 Loss, Reappoints Managing Director
Shree Precoated Steels Limited reported a net loss of Rs. 12.00 lakhs for Q1 FY2025-26, slightly improved from Rs. 13.00 lakhs loss in Q1 FY2024-25. The company had zero revenue from operations and total expenses of Rs. 12.00 lakhs. Mr. Harsh L. Mehta was reappointed as Managing Director for a five-year term. Ms. Krishna Agrawal resigned as Company Secretary, with Ms. Priyanka Khandelwal taking over the role. The auditor highlighted concerns about the company's ability to continue as a going concern due to negative net worth of Rs. 216.00 lakhs.
*this image is generated using AI for illustrative purposes only.
Shree Precoated Steels Limited , a Mumbai-based company, has released its financial results for the first quarter ended June 30, 2025, revealing a continued struggle with profitability amidst operational challenges. The company's board meeting, held on July 24, 2025, also approved several key management changes.
Financial Performance
The company reported a net loss of Rs. 12.00 lakhs for the quarter, a slight improvement from the Rs. 13.00 lakhs loss in the same quarter of the previous year. However, the financial results paint a concerning picture:
| Particulars (in Rs. Lakhs) | Q1 FY2025-26 | Q1 FY2024-25 |
|---|---|---|
| Revenue from Operations | 0.00 | 0.00 |
| Total Expenses | 12.00 | 13.00 |
| Net Loss | (12.00) | (13.00) |
| EPS (Basic & Diluted) | (0.29) | (0.31) |
The company's total expenses of Rs. 12.00 lakhs primarily comprised employee benefit expenses of Rs. 8.00 lakhs and other expenses of Rs. 4.00 lakhs. The lack of revenue from operations raises questions about the company's current business activities and future prospects.
Management Changes
In a significant development, the Board has reappointed Mr. Harsh L. Mehta as Managing Director for a five-year term from May 24, 2026, to May 23, 2031, subject to shareholder approval at the upcoming Annual General Meeting. Mr. Mehta brings over 17 years of experience in project management, finance, and legal affairs to his role.
The company also announced changes in its key managerial personnel:
- Ms. Krishna Agrawal has resigned as Company Secretary and Compliance Officer, effective August 13, 2025.
- Ms. Priyanka Khandelwal will take over as the new Company Secretary and Compliance Officer from August 14, 2025. She is an Associate Member of the Institute of Company Secretaries of India and holds a law degree, with 3.5 years of experience in corporate law and compliance.
Going Concern Issues
The auditor's review highlighted material uncertainty regarding the company's ability to continue as a going concern. This concern stems from the company's negative net worth of Rs. 216.00 lakhs. Despite this, the accounts have been prepared on a going concern basis, with the company citing pending litigation for indirect tax refunds as a potential source of future cash flows.
Outlook
Shree Precoated Steels Limited faces significant challenges ahead. With zero revenue from operations and ongoing losses, the company's ability to turn around its financial situation remains uncertain. The management changes and potential resolution of pending tax refund litigation may provide some hope for the company's future, but investors and stakeholders will likely be watching closely for signs of operational improvement in the coming quarters.
The trading window for the company's securities will reopen 48 hours after the declaration of these financial results, as per SEBI regulations and the company's Code of Conduct for Prohibition of Insider Trading.
Historical Stock Returns for Shree Precoated Steels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -100.00% | -100.00% | -100.00% | -100.00% | -100.00% | -100.00% |
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