Shristi Infrastructure Development Corporation Ltd (511411)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Shristi Infrastructure's revenue was ₹8.1 Cr (-61.5% year on year, -48.1% on the previous quarter), and net profit ₹-14.6 Cr (a bigger loss than a year earlier); the operating margin was -118.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹8.1 | -61.5% | -48.1% |
| Operating profit | ₹-9.6 | to loss | loss widened |
| Net profit | ₹-14.6 | loss widened | loss widened |
| Operating margin | -118.3% | — | — |
📢 Recent Corporate Announcements
The Board of Shristi Infrastructure Development Corporation Limited has approved a Scheme of Arrangement to demerge its 'Krishnagar Sentrum' undertaking into a wholly owned subsidiary, Shristi Realty Holdings Limited. Eligible shareholders will receive 2 fully paid-up equity shares of Rs 10 each in the resulting company for every 9 equity shares of Rs 10 each held in SIDCL. The demerged division accounted for a turnover of INR 1,281.72 Lakhs in FY 2025-26, representing 18.37% of SIDCL's standalone turnover. The resulting company is proposed to be listed on BSE and The Calcutta Stock Exchange, with an appointed date of October 1, 2026, subject to NCLT and regulatory approvals.
- Share entitlement ratio set at 2 equity shares of Rs 10 each in Shristi Realty Holdings for every 9 shares held in SIDCL
- Demerged undertaking contributed INR 1,281.72 Lakhs turnover in FY 2025-26 (18.37% of standalone turnover)
- Resulting entity equity capital will expand to 49,33,333 shares with mirror shareholding (74.93% promoter, 25.07% public)
- Appointed date for the demerger fixed as October 1, 2026
- Listing of the resulting entity planned on BSE and CSE subject to regulatory and NCLT approvals
Shristi Infrastructure Development Corporation Ltd has re-appointed M/s. D. Radhakrishnan & Co. as its Cost Auditor for the financial year 2026-27. The decision was approved by the Board on August 12, 2026, following an Audit Committee recommendation. This is a standard regulatory compliance filing. The company remains under significant financial pressure with a negative net worth of ₹-159 Cr and a TTM loss of ₹25 Cr.
- Re-appointment of M/s. D. Radhakrishnan & Co. (FRN 000018) as Cost Auditor.
- The appointment covers the full financial year 2026-27.
- Board approval was finalized on August 12, 2026.
- Company is operating with a high debt of ₹367 Cr against a market cap of only ₹63 Cr.
Shristi Infrastructure reported a consolidated net loss of Rs 14.61 Cr for Q1 FY27 on a thin total income of Rs 8.15 Cr. The auditor issued a qualified opinion due to the non-provision of interest expenses amounting to Rs 6.41 Cr for the quarter on Srei Equipment Finance borrowings; including this would have widened the loss to Rs 21.02 Cr. The company's net worth is fully eroded (Rs -159 Cr), and it faces a massive unprovided arbitration award of Rs 761 Cr. Auditors have highlighted a material uncertainty regarding the company's ability to continue as a going concern.
- Consolidated Net Loss of Rs 14.61 Cr reported for the quarter ended June 30, 2026
- Cumulative unprovided interest default on borrowings reached Rs 131.04 Cr as of June 2026
- Total income for the quarter stood at only Rs 8.15 Cr, failing to cover even basic operating costs
- Arbitration award of Rs 761 Cr plus interest remains a major unprovided contingent liability
- Net worth remains fully eroded, with the company incurring losses for more than three consecutive years
Shristi Infrastructure Development Corp (SIDCL) reported a consolidated net loss of ₹14.61 crore for Q1 FY27 on a revenue of ₹8.15 crore. The auditor issued a qualified opinion, noting that the loss would have been ₹21.02 crore if interest of ₹6.41 crore on Srei Equipment Finance borrowings had been properly recognized. With a negative net worth of ₹159 crore and a pending ₹761 crore arbitration award liability, the auditor has explicitly flagged a material uncertainty regarding the company's ability to continue as a going concern.
- Reported a consolidated net loss of ₹14.61 crore for the quarter ended June 30, 2026.
- Auditor highlighted a cumulative non-provision of interest totaling ₹131.04 crore as of June 2026.
- The company faces a final arbitration award of ₹761 crore plus interest (calculated till 2019) in favor of Rishima SA Investments.
- Revenue for the quarter stood at ₹8.15 crore, significantly lower than the FY26 quarterly average of ~₹17.5 crore.
- Net worth remains fully eroded at ₹-159 crore with total debt standing at ₹367 crore.
Shristi Infrastructure Development Corporation Ltd (SIDCL) has scheduled a board meeting for August 12, 2026, to approve its unaudited financial results for the quarter ended June 30, 2026. The company is currently in a precarious financial position, with a negative net worth of ₹159 Cr and a TTM loss of ₹25 Cr. Given the high debt of ₹367 Cr relative to its ₹67 Cr market capitalization, these results are critical for assessing the company's ongoing solvency and operational performance.
- Board meeting scheduled for August 12, 2026, to consider Q1 FY27 results.
- Company reported a net loss of ₹9.15 Cr in the most recent quarter ended March 2026.
- Total debt stands at ₹367 Cr, which is approximately 5.47 times the company's market capitalization.
- Net worth is currently negative at -₹159 Cr, indicating significant financial distress.
- TTM revenue of ₹70 Cr reflects a declining trend compared to FY25 revenue of ₹87 Cr.
Shristi Infrastructure Development Corporation Ltd (SIDCL) has incorporated a new wholly owned subsidiary (WOS) named Shristi Realty Holdings Limited on July 30, 2026. The new entity is focused on the Real Estate and Construction sector with the primary objective of acquiring new business ventures. This structural move occurs while the parent company faces severe financial distress, including a negative net worth of ₹159 Cr and a high debt-to-equity ratio. The initial subscription is at a face value of ₹10 per share, though the total capital commitment remains undisclosed.
- Incorporation of Shristi Realty Holdings Limited as a 100% Wholly Owned Subsidiary on July 30, 2026.
- Primary objective of the new entity is to acquire new business ventures in the Real Estate/Construction sector.
- Initial shares subscribed at a face value of ₹10 per share via cash consideration.
- Parent company SIDCL reports a negative net worth of ₹159 Cr and TTM losses of ₹25 Cr.
- Parent company carries a significant debt load of ₹367 Cr as per latest financial context.
Shristi Infrastructure Development Corporation Ltd (SIDCL) has incorporated a new wholly-owned subsidiary, Shristi Realty Holdings Limited, on July 30, 2026. The new entity will operate in the real estate and construction sector with the primary objective of acquiring new business ventures. This move comes as the parent company faces significant financial headwinds, including a negative net worth of ₹159 Cr and a high debt of ₹367 Cr. The initial subscription is being made in cash at a face value of ₹10 per share.
- Incorporated Shristi Realty Holdings Limited as a 100% Wholly Owned Subsidiary on July 30, 2026
- Primary objective of the new entity is to acquire new business ventures in the Real Estate/Construction sector
- Subscription of shares at a face value of ₹10 per share via cash consideration
- Parent company SIDCL reported a TTM loss of ₹25 Cr and has a negative net worth of ₹159 Cr
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