Mihika Industries Ltd (538895)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Mihika Industries' revenue was ₹0.5 Cr (-72.7% year on year, +0.6% on the previous quarter), and net profit ₹0.0 Cr (+6.0% year on year); the operating margin was -28.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.5 | -72.7% | +0.6% |
| Operating profit | ₹-0.1 | loss narrowed | loss narrowed |
| Net profit | ₹0.0 | +6.0% | +6.0% |
| EPS (₹) | 0.01 | +0.0% | +0.0% |
| Operating margin | -28.3% | — | — |
📢 Recent Corporate Announcements
Mihika Industries has announced the closure of its Register of Members and Share Transfer Books from August 25, 2026, to September 1, 2026. This action is taken to facilitate the company's 43rd Annual General Meeting (AGM). The cut-off date for determining shareholder eligibility for e-voting is set for August 25, 2026. This is a standard administrative procedure for the Rs 10 crore market-cap company, which reported a significant revenue decline to Rs 2.68 crore in FY26 from Rs 34.74 crore in FY25.
- Book closure period set from August 25, 2026, to September 1, 2026
- Cut-off date for e-voting eligibility is August 25, 2026
- Cut-off date for sending AGM notices was August 7, 2026
- The event pertains to the company's 43rd Annual General Meeting
- Company maintains a small market capitalization of Rs 10 crore
Mihika Industries has released its FY25-26 Annual Report, scheduling its 43rd AGM for September 1, 2026. The most significant proposal is a 10-fold increase in authorized share capital from ₹10 Cr to ₹100 Cr, which is over 8x the company's current market capitalization of ₹12 Cr. This follows a year where revenue plummeted 92% to ₹2.68 Cr from ₹34.74 Cr in FY25. Despite the revenue collapse, the company reported a marginal net profit of ₹0.09 Cr and a significantly improved current ratio of 121.04.
- Proposed increase in Authorized Share Capital from ₹10 Cr to ₹100 Cr (10x increase)
- Annual revenue for FY26 dropped 92.2% to ₹2.68 Cr from ₹34.74 Cr in FY25
- Managing Director Bipinbhai Prajapati re-appointed for 5 years with remuneration up to ₹1 Lakh per month
- Current Ratio surged to 121.04 from 5.33, driven by a significant reduction in current liabilities
- Trade Receivables Turnover Ratio declined by 77.87% as average receivables rose to ₹1.57 Cr
Mihika Industries has convened its 43rd AGM for September 1, 2026, with a major proposal to increase its authorized share capital from ₹10 crore to ₹100 crore. This 10-fold increase is significant given the company's current market capitalization of just ₹12 crore. The company is also seeking to appoint a new statutory auditor for five years and formalize the appointment of Bipinbhai Becharbhai Prajapati as Managing Director with a remuneration of ₹1 lakh per month. These moves come amid a challenging financial year where revenue plummeted 92% from ₹34.74 crore in FY25 to ₹2.68 crore in FY26.
- Proposed increase in Authorized Share Capital from ₹10 crore to ₹100 crore (10x increase).
- FY26 revenue reported at ₹2.68 crore, a sharp decline from ₹34.74 crore in the previous year.
- Managing Director remuneration proposed at ₹1 lakh per month for a 5-year term starting Oct 2025.
- Current Ratio surged to 121.04 in FY26 from 5.33 in FY25 due to significant reduction in current liabilities.
- Trade Receivables Turnover Ratio declined by 77.87% to 2.16, indicating slower collections.
Mihika Industries (Market Cap: ₹12 Cr) has announced the resignation of its statutory auditor, M/s. S K Bhavsar & Co., effective August 10, 2026, citing a recent change in management. The board has recommended M/s. Kapil Kumar Aggarwal & Associates as the new auditor for a five-year term (FY 2026-27 to 2030-31), subject to shareholder approval. Additionally, the company is shifting its registered office from Kolkata, West Bengal, to Ahmedabad, Gujarat, to align with its corporate office. These governance changes occur against a backdrop of weak financials, with TTM revenue at just ₹3 Cr and negative operating margins of -18.3%.
- Statutory Auditor S K Bhavsar & Co. resigned effective August 10, 2026, citing management changes.
- Proposed appointment of M/s. Kapil Kumar Aggarwal & Associates for a 5-year term until 2031.
- Registered office shifting from Kolkata to Ahmedabad, Gujarat, pending regulatory approvals.
- 43rd Annual General Meeting (AGM) scheduled for September 1, 2026, to ratify these changes.
- Company reports TTM revenue of ₹3 Cr against a market capitalization of ₹12 Cr.
Mihika Industries (Market Cap: Rs 12 Cr) announced the resignation of its Statutory Auditor, S K Bhavsar & Co., effective August 10, 2026, citing a recent change in management. The board has recommended Kapil Kumar Aggarwal & Associates as the new auditor for a 5-year term (FY 2026-27 to 2030-31), subject to shareholder approval. Additionally, the company plans to shift its registered office from Kolkata to Ahmedabad, Gujarat. These administrative changes follow a period of low financial activity, with TTM revenue at just Rs 3 Cr.
- Statutory Auditor S K Bhavsar & Co. resigned effective August 10, 2026, citing management changes.
- Kapil Kumar Aggarwal & Associates recommended for a 5-year term as Statutory Auditors until 2031.
- Registered office to be relocated from Kolkata, West Bengal to Ahmedabad, Gujarat.
- 43rd Annual General Meeting (AGM) scheduled for September 1, 2026, to approve these changes.
- Jay Pandya & Associates appointed as Secretarial Auditor for a 5-year term starting FY 2026-27.
Mihika Industries has announced the resignation of its statutory auditor, S K Bhavsar & Co., effective August 10, 2026, citing management changes and time constraints. The board has recommended M/s. Kapil Kumar Aggarwal & Associates as the new statutory auditor for a five-year term (FY 2026-27 to 2030-31), subject to shareholder approval. Additionally, the company plans to shift its registered office from Kolkata to Ahmedabad, Gujarat, to align with its corporate office. These administrative changes come as the company reports a small TTM revenue of Rs 3 Cr and negative operating margins of -18.3%.
- Resignation of Statutory Auditor S K Bhavsar & Co. effective August 10, 2026
- Proposed appointment of Kapil Kumar Aggarwal & Associates for a 5-year term until 2031
- Shifting of Registered Office from Kolkata, West Bengal to Ahmedabad, Gujarat
- 43rd Annual General Meeting (AGM) scheduled for September 1, 2026
- Appointment of Jay Pandya & Associates as Secretarial Auditor for a 5-year term
Mihika Industries (Market Cap: ₹12 Cr) has announced the resignation of its Statutory Auditor, M/s. S K Bhavsar & Co., effective August 10, 2026. The auditor cited a recent change in management and professional commitments as reasons for the exit, though no fraud or irregularities were reported. The board has recommended M/s. Kapil Kumar Aggarwal & Associates as the new auditor for a 5-year term (FY 2026-27 to 2030-31). Additionally, the company plans to shift its registered office from Kolkata to Ahmedabad, Gujarat, subject to shareholder approval at the upcoming AGM on September 1, 2026.
- Statutory Auditor S K Bhavsar & Co. resigned effective August 10, 2026, after being appointed for a 5-year term starting April 1, 2024.
- New Statutory Auditor, M/s. Kapil Kumar Aggarwal & Associates, proposed for a 5-year term until 2031.
- Registered office relocation proposed from Kolkata, West Bengal to Ahmedabad, Gujarat.
- M/s. Jay Pandya & Associates appointed as Secretarial Auditor for a 5-year term (FY 2026-27 to 2030-31).
- 43rd Annual General Meeting (AGM) scheduled for September 1, 2026, to seek shareholder approval for these changes.
Mihika Industries has announced the resignation of its statutory auditor, S K Bhavsar & Co., effective August 10, 2026, citing a recent change in management and time constraints. The Board has recommended the appointment of Kapil Kumar Aggarwal & Associates for a five-year term (FY 2026-27 to 2030-31), pending shareholder approval at the AGM on September 1, 2026. Additionally, the company is shifting its registered office from Kolkata to Ahmedabad, Gujarat. These administrative changes follow a significant revenue contraction from Rs 34.74 Cr in FY25 to Rs 2.68 Cr in FY26.
- Resignation of Statutory Auditor M/s. S K Bhavsar & Co. effective August 10, 2026, citing management changes.
- Proposed appointment of M/s. Kapil Kumar Aggarwal & Associates as Statutory Auditors for a 5-year term until 2031.
- Shifting of Registered Office from Kolkata, West Bengal to Ahmedabad, Gujarat to align with the corporate office.
- 43rd Annual General Meeting (AGM) scheduled for September 1, 2026, via video conferencing.
- Revenue significantly declined by approximately 92% from Rs 34.74 Cr in FY25 to Rs 2.68 Cr in FY26.
Mihika Industries reported a stagnant sequential performance for Q1 FY27, with revenue from operations at ‡45.27 Lakhs compared to ‡44.69 Lakhs in the previous quarter. On a year-on-year basis, revenue saw a sharp decline of 72.7% from ‡166.11 Lakhs in Q1 FY26. Net profit remains marginal at ‡1.06 Lakhs, reflecting the company's small-scale operations in agricultural product trading. With a TTM revenue of only ‡3 Cr against a net worth of ‡22 Cr, the business continues to operate with extremely low asset turnover.
- Revenue from operations stood at ‡45.27 Lakhs for Q1 FY27, a marginal 1.3% increase over the preceding quarter.
- Net profit for the quarter was ‡1.06 Lakhs, down from ‡1.15 Lakhs in the previous quarter.
- Year-on-year revenue plummeted by 72.7% compared to ‡166.11 Lakhs in June 2025.
- Total expenses for the quarter were ‡51.01 Lakhs, primarily driven by inventory changes of ‡50.61 Lakhs.
- The company operates in a single segment: Agriculture Products.
Mihika Industries reported a sharp decline in revenue for the quarter ended June 30, 2026, with operations generating ₹0.45 crore compared to ₹1.66 crore in the same period last year. Despite the 73% YoY revenue drop, the company maintained a marginal net profit of ₹0.01 crore, aided by other income of ₹0.14 crore. The company continues to operate at a very small scale relative to its ₹22 crore net worth, with operating margins remaining under pressure. The business remains concentrated solely in the trading of agricultural products.
- Revenue from operations decreased by 72.7% YoY to ₹45.27 lakhs from ₹166.11 lakhs.
- Net profit remained stagnant at ₹1.06 lakhs for the quarter.
- Other income of ₹14.24 lakhs contributed significantly to the total income of ₹59.51 lakhs.
- Total expenses were reduced to ₹58.08 lakhs from ₹119.59 lakhs in the previous year's quarter.
- Earnings Per Share (EPS) remained flat at ₹0.01.
Mihika Industries reported a weak Q1 FY27 with revenue from operations dropping approximately 73% YoY to ₹0.45 crore from ₹1.66 crore. Net profit remained marginal at ₹1.06 lakhs, supported primarily by 'Other Income' of ₹14.24 lakhs as operating expenses of ₹58.45 lakhs exceeded core revenue. The company operates solely in agricultural product trading, a segment currently lacking the scale to cover fixed costs through operations alone. With a market capitalization of just ₹14 crore, the company's financial footprint remains extremely small and volatile.
- Revenue from operations fell to ₹45.27 lakhs in Q1 FY27 from ₹166.11 lakhs in Q1 FY26
- Net profit for the quarter stood at ₹1.06 lakhs, down from ₹1.42 lakhs in the year-ago period
- Other income of ₹14.24 lakhs was the sole driver of profitability, offsetting an operating loss of ₹13.18 lakhs
- Total expenses for the quarter were ₹58.45 lakhs, with stock-in-trade purchases accounting for ₹50.00 lakhs
- Earnings Per Share (EPS) remained stagnant at ₹0.01 for the quarter
Mihika Industries has announced a board meeting on July 23, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. This is a routine regulatory filing under SEBI (LODR) Regulations. The meeting will be held at the company's corporate office in Ahmedabad at 4:00 PM. Investors should note the company's 12-month price return of -27.0% as they await the upcoming performance data.
- Board meeting scheduled for July 23, 2026, to review quarterly performance.
- Results pertain to the quarter ended June 30, 2026.
- Meeting to include a Limited Review Report from auditors.
- Scheduled start time is 04:00 P.M. at the Ahmedabad corporate office.
Mihika Industries has approved a significant fundraise of up to ₹90 crore through a Rights Issue of equity shares. To accommodate this, the Board has proposed a 10-fold increase in the Authorized Share Capital from ₹10 crore to ₹100 crore, subject to shareholder approval at the upcoming AGM on September 1, 2026. Additionally, the company announced a major board overhaul with the appointment of three new Independent Directors and the resignation of two others. This capital infusion is substantial for a company currently operating on a ₹10 crore authorized capital base.
- Approved fundraise of up to ₹90 crore via Rights Issue to eligible shareholders.
- Proposed increase in Authorized Share Capital from ₹10 crore to ₹100 crore.
- 43rd Annual General Meeting (AGM) scheduled for September 1, 2026, to approve capital changes.
- Appointment of three new Independent Directors: Ms. Pooja Sarkar, Ms. Shruti, and Mr. Sudhanshu Shekhar.
- Resignation of two Independent Directors, Mr. Saurabh and Ms. Reema Magotra, effective July 17, 2026.
Mihika Industries has approved a massive fundraise of up to Rs 90 Crore through a Rights Issue of equity shares. To accommodate this, the Board has proposed a 10-fold increase in the Authorized Share Capital from Rs 10 Crore to Rs 100 Crore. The company also announced a significant board refresh, appointing three new Independent Directors and accepting the resignations of two others. These proposals are subject to shareholder approval at the upcoming AGM on September 1, 2026.
- Approved raising funds up to Rs 90 Crore through a Rights Issue of equity shares with a face value of Rs 10 each
- Proposed a 10x increase in Authorized Share Capital from Rs 10 Crore to Rs 100 Crore
- Appointed three new Independent Directors: Ms. Pooja Sarkar, Ms. Shruti, and Mr. Sudhanshu Shekhar for 5-year terms
- Two Independent Directors, Mr. Saurabh and Ms. Reema Magotra, resigned effective July 17, 2026
- Scheduled the 43rd Annual General Meeting (AGM) for September 1, 2026, to seek shareholder approval for these changes
Mihika Industries has approved a significant fundraise of up to Rs 90 crore through a Rights Issue to eligible shareholders. To facilitate this, the Board has proposed a 10-fold increase in the Authorized Share Capital from Rs 10 crore to Rs 100 crore, pending shareholder approval at the upcoming AGM on September 1, 2026. The company also underwent a major board reshuffle, appointing three new Independent Directors while two others resigned. This capital infusion represents a massive expansion relative to the company's current capital base.
- Approved raising funds up to Rs 90 crore via a Rights Issue of equity shares.
- Proposed increase in Authorized Share Capital from Rs 10 crore to Rs 100 crore.
- Appointment of three new Independent Directors for a 5-year term effective July 17, 2026.
- Resignation of two Independent Directors, Mr. Saurabh and Ms. Reema Magotra, citing pre-occupancy.
- 43rd Annual General Meeting scheduled for September 1, 2026, to approve these proposals.
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