Chandrima Mercantiles Ltd (540829)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Chandrima Mercantiles' revenue was ₹0.7 Cr (-83.8% year on year, -82.0% on the previous quarter), and net profit ₹0.0 Cr (-88.2% year on year); the operating margin was 9.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.7 | -83.8% | -82.0% |
| Operating profit | ₹0.1 | -84.7% | from loss |
| Net profit | ₹0.0 | -88.2% | from loss |
| EPS (₹) | 0.00 | -100.0% | loss narrowed |
| Operating margin | 9.2% | — | — |
📢 Recent Corporate Announcements
Chandrima Mercantiles Limited has notified the stock exchange regarding its book closure dates pursuant to Regulation 42 of SEBI LODR Regulations. The Register of Members and Share Transfer Books will be closed from September 10, 2026, to September 17, 2026 (both days inclusive) for the company's 44th Annual General Meeting (AGM). The cut-off date to determine shareholders for sending the AGM notice was August 21, 2026, while the cut-off date for e-voting participation is set as September 10, 2026.
- Book closure period scheduled from September 10, 2026 to September 17, 2026 (both days inclusive)
- Cut-off date for determining shareholders for e-voting participation fixed as September 10, 2026
- Cut-off date for dispatching AGM notices was August 21, 2026
- Book closure is conducted for the purpose of the 44th Annual General Meeting
Chandrima Mercantiles has responded to BSE's clarification query dated August 27, 2026, regarding significant movement in the company's share price. The company confirmed that it possesses no undisclosed price-sensitive or material information that could drive price fluctuations. Management noted that all required disclosures under SEBI LODR Regulations have been complied with and attributed the price volatility entirely to market forces.
- BSE sought clarification via Letter No L/SURV/ONL/PV/SG/ 2026-2027 / 306 dated August 27, 2026
- Company confirmed zero undisclosed price-sensitive information or pending announcements
- Management stated share price volatility is purely natural and market driven
- Stock has delivered a 178.4% return over the trailing 12 months amid low quarterly revenue (Rs 0.7135 cr in Jun 2026)
Chandrima Mercantiles Limited has published its 44th Annual Report for FY 2025-26 and convened its Annual General Meeting for September 17, 2026. The financial statements disclose a net loss of Rs 400.32 lakh for FY26, down from a net profit of Rs 72.94 lakh in FY25. The company's paid-up equity stands at 33,31,69,500 shares of face value Rs 1. Key AGM agenda items include the 5-year appointment of M/s M A A K & Associates as Statutory Auditors and the appointment of Ms. Neha Singhal as Independent Director.
- 44th Annual General Meeting scheduled for September 17, 2026, via Video Conferencing.
- Reported FY26 Profit/(Loss) After Tax of Rs (400.32) Lakhs versus Rs 72.94 Lakhs in FY25.
- FY26 Basic and Diluted EPS stood at Rs (0.12) on an expanded base of 33,31,69,500 equity shares.
- Proposed appointment of Statutory Auditors M/s M A A K & Associates for a 5-year term (FY 2026-27 to FY 2030-31).
Chandrima Mercantiles Limited has scheduled its 44th Annual General Meeting (AGM) for Thursday, September 17, 2026, via Video Conferencing. Key agenda items include the adoption of FY2025-26 audited financial statements, the appointment of M/s M A A K & Associates as Statutory Auditors for a 5-year term (FY27 to FY31), and the regularisation of Ms. Neha Singhal as an Independent Director for 5 years. The annual report notes a reported net loss of Rs 400.32 Lakhs for FY26 compared to a profit of Rs 72.94 Lakhs in FY25.
- 44th Annual General Meeting scheduled for September 17, 2026, via VC/OAVM
- Appointment of M/s M A A K & Associates, Chartered Accountants, as Statutory Auditors for 5 years (FY 2026-27 to 2030-31)
- Appointment of Ms. Neha Singhal as Independent Director for a 5-year term from August 12, 2026
- FY26 Loss After Tax stood at Rs (400.32) Lakhs compared to a Profit After Tax of Rs 72.94 Lakhs in FY25
- Total equity shares expanded to 33,31,69,500 (FV Rs 1) from 2,22,11,300 (FV Rs 10)
Chandrima Mercantiles Limited has recommended the appointment of M/s. M A A K & Associates, Chartered Accountants (FRN: 135024W), as its Statutory Auditors for a period of 5 years spanning FY 2026-27 to FY 2030-31. The appointment is subject to shareholder approval at the upcoming 44th Annual General Meeting (AGM) scheduled for September 17, 2026. If approved, the auditor will hold office until the conclusion of the 49th AGM in 2031.
- Appointment of M/s. M A A K & Associates as Statutory Auditor for a 5-year tenure (FY 2026-27 to FY 2030-31)
- Tenure extends from the conclusion of the 44th AGM to the 49th AGM in 2031
- 44th Annual General Meeting scheduled for September 17, 2026, at 12:00 PM IST via VC/OAVM
- Auditor's peer review certificate validity is up to June 30, 2027
Chandrima Mercantiles Limited has approved the recommendation to appoint M/s. M A A K & Associates, Chartered Accountants, as its Statutory Auditors for a 5-year tenure covering FY 2026-27 to FY 2030-31. The appointment is subject to shareholder approval at the company's 44th Annual General Meeting (AGM). The AGM is scheduled to take place on September 17, 2026, via Video Conferencing.
- Recommended appointment of M/s. M A A K & Associates (FRN: 135024W) as Statutory Auditors for 5 years
- Tenure spans from the conclusion of the 44th AGM until the 49th AGM in 2031 (FY 2026-27 to FY 2030-31)
- 44th Annual General Meeting convened for Thursday, September 17, 2026, at 12:00 PM IST
- Statutory auditor peer review validity stands until June 30, 2027
Chandrima Mercantiles reported a severe 83.8% YoY decline in revenue to ₹71.35 lakh for Q1 FY27, down from ₹440.71 lakh. Net profit followed suit, falling 88.1% YoY to ₹4.94 lakh. A major concern for investors is the statutory auditor's qualified opinion, citing a lack of balance confirmations for trade receivables, payables, and loans. Furthermore, the auditor noted that closing stock was certified by management without a provided basis for calculation, raising transparency risks.
- Revenue from operations plummeted 83.8% YoY to ₹71.35 lakh from ₹440.71 lakh.
- Net profit for the quarter ended June 30, 2026, fell to ₹4.94 lakh from ₹41.64 lakh in the previous year.
- Auditor issued a Qualified Opinion due to missing balance confirmations for trade receivables and payables.
- Total expenses decreased to ₹64.76 lakh from ₹399.07 lakh YoY, primarily due to lower purchase volumes.
- Management changes include the resignation of Independent Director Parin Bhavsar and appointment of Neha Singhal.
Chandrima Mercantiles reported a sharp 83.8% YoY decline in revenue to ₹71.35 lakh for Q1 FY27, compared to ₹440.71 lakh in the same quarter last year. Net profit followed suit, falling 88.1% to ₹4.94 lakh from ₹41.64 lakh. Critically, the statutory auditor issued a qualified opinion, stating they were not provided with balance confirmations for trade receivables, payables, or loans. Furthermore, the auditor noted that closing stock was certified by management without a provided basis for calculation, raising transparency concerns.
- Revenue from operations plummeted 83.8% YoY to ₹71.35 lakh in Q1 FY27.
- Net profit for the quarter ended June 30, 2026, stood at ₹4.94 lakh vs ₹41.64 lakh in Q1 FY26.
- Auditor issued a Qualified Opinion due to lack of balance confirmations for trade receivables and payables.
- Closing stock was certified by management only, with no basis of calculation provided to auditors.
- Appointed Ms. Neha Singhal as Additional Non-Executive Independent Director following the resignation of Mr. Parin Bhavsar.
Chandrima Mercantiles reported a sharp contraction in its Q1 FY27 performance, with revenue from operations falling to ₹71.35 lakh from ₹440.71 lakh in the year-ago period. Net profit plummeted to ₹4.94 lakh compared to ₹41.64 lakh in Q1 FY26. Beyond the financials, the statutory auditor issued a qualified opinion, noting a lack of balance confirmations for trade receivables, payables, and loans. The board also approved the appointment of Ms. Neha Singhal as an Independent Director following the resignation of Mr. Parin Bhavsar.
- Revenue from operations declined by 83.8% YoY to ₹71.35 lakh in Q1 FY27.
- Net profit for the quarter fell to ₹4.94 lakh, down from ₹41.64 lakh in the same quarter last year.
- Statutory auditors issued a qualified opinion due to missing balance confirmations for trade receivables and payables.
- Ms. Neha Singhal appointed as Additional Non-Executive Independent Director effective August 12, 2026.
- M/s. Sarang Shivajirao Chavan & Associates appointed as Internal Auditor for FY 2026-27.
Chandrima Mercantiles reported a severe contraction in its Q1 FY27 performance, with revenue from operations falling 83.8% YoY to ₹71.35 lakh from ₹440.71 lakh. Net profit plummeted 88.1% YoY to ₹4.94 lakh compared to ₹41.64 lakh in the same quarter last year. Critically, the statutory auditor issued a qualified opinion, stating they were not provided with balance confirmations for trade receivables, payables, or loans. The company also announced the resignation of Independent Director Parin Bhavsar and the appointment of Neha Singhal to the board.
- Revenue from operations fell sharply to ₹71.35 lakh in Q1 FY27 from ₹440.71 lakh in Q1 FY26.
- Net profit for the quarter ended June 30, 2026, declined to ₹4.94 lakh from ₹41.64 lakh YoY.
- Statutory auditor issued a qualified opinion due to lack of balance confirmations for trade receivables and payables.
- Purchases of stock-in-trade decreased significantly to ₹41.16 lakh from ₹291.86 lakh YoY.
- Independent Director Parin Bhavsar resigned effective August 12, 2026, citing pre-occupancy.
Chandrima Mercantiles reported a severe contraction in its Q1 FY27 performance, with revenue from operations falling 83.8% YoY to ‡71.35 lakh. Net profit plummeted 88.1% YoY to ‡4.94 lakh, down from ‡41.64 lakh in the previous year's quarter. Critically, the statutory auditors issued a qualified opinion, stating they were not provided with balance confirmations for trade receivables, payables, or loans and advances. Furthermore, an emphasis of matter was raised regarding closing stock, which was certified by management without a provided basis for calculation.
- Revenue from operations decreased sharply to ‡71.35 lakh from ‡440.71 lakh in Q1 FY26.
- Net profit for the quarter stood at ‡4.94 lakh, an 88% decline compared to ‡41.64 lakh YoY.
- Total expenses fell to ‡64.76 lakh from ‡399.07 lakh, reflecting a significant reduction in trading activity.
- Auditors issued a qualified opinion due to lack of balance confirmations for trade receivables and payables.
- Management changes include the resignation of Independent Director Parin Bhavsar and appointment of Neha Singhal.
Chandrima Mercantiles reported a severe contraction in its Q1 FY27 performance, with revenue from operations falling 83.8% YoY to ₹71.35 lakh from ₹440.71 lakh. Net profit plummeted 88.1% YoY to ₹4.94 lakh, down from ₹41.64 lakh in the same quarter last year. A major concern for investors is the statutory auditor's qualified opinion, citing a lack of balance confirmations for trade receivables, payables, and loans. Furthermore, the auditor noted that closing stock was certified by management without a provided basis for calculation, raising transparency risks.
- Revenue from operations declined sharply by 83.8% YoY to ₹71.35 lakh
- Net profit for the quarter fell 88.1% YoY to ₹4.94 lakh
- Auditor issued a qualified opinion due to missing balance confirmations for trade receivables and payables
- Closing stock was certified by management only, with no calculation basis provided to auditors
- Appointment of Ms. Neha Singhal as Additional Non-Executive Independent Director effective August 12, 2026
Chandrima Mercantiles Ltd has scheduled a board meeting for August 12, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. This is a routine regulatory filing as per SEBI (LODR) Regulations. The results will provide the first performance update for the new fiscal year, reflecting the company's progress in its 100% agriculture-based trading business. Investors should note the company's historical dependency on a single supplier for procurement worth INR 2.65 Cr.
- Board meeting scheduled for August 12, 2026, at 03:00 P.M.
- Agenda focuses on unaudited financial results for the quarter ended June 30, 2026.
- The company operates in the agriculture sector with an expected growth rate of 6.4%.
- Significant dependency on Arihant Castor Export Limited for procurement totaling INR 2.65 Cr.
Financial Performance
Revenue Growth by Segment
The company operates in a single segment, Agriculture Products, which generated a turnover of INR 29.19 Cr (Rs. 2,919.30 Lakhs) for the financial year 2024-25. Growth percentages were not explicitly disclosed, but the company reported no significant changes (defined as 25% or more) in key financial ratios compared to the previous year.
Geographic Revenue Split
Not disclosed in available documents, though operations are headquartered in Ahmedabad, Gujarat.
Operational Drivers
Raw Materials
Seeds and bio-fertilizers are identified as key inputs for the agriculture product segment.
Key Suppliers
Arihant Castor Export Limited is a significant supplier and related party.
Raw Material Costs
Related party purchases from Arihant Castor Export Limited totaled INR 2.65 Cr (Rs. 265.55 Lakhs) for FY 2024-25, representing approximately 9.1% of total revenue.
Strategic Growth
Expected Growth Rate
6.4%
Growth Strategy
The company aims to achieve growth by focusing on the agriculture sector, leveraging government thrust for infrastructure development and increasing farmer appreciation for value-added inputs like seeds and bio-fertilizers. Strategic planning is guided by a board with expertise in finance, operations, and business strategy.
Products & Services
Agriculture Products (including seeds and bio-fertilizers).
Strategic Alliances
The company maintains a significant commercial relationship with Arihant Castor Export Limited for the purchase of goods.
External Factors
Industry Trends
The industry is seeing a shift toward value-added inputs like bio-fertilizers. The broader Indian economy grew at 6.4% in FY25, providing a resilient backdrop despite global sluggishness.
Competitive Landscape
The company faces increased competition from both domestic players and developed countries in the agricultural product line.
Competitive Moat
The company faces a competitive threat due to low entry and exit barriers in the industry, which limits the sustainability of a traditional moat and increases the risk from substitutes.
Macro Economic Sensitivity
The company is sensitive to Indian GDP growth (6.4% in FY25) and domestic demand-supply conditions in the agriculture sector.
Consumer Behavior
There is an increasing appreciation among the farming community for the value of quality inputs like seeds and bio-fertilizers.
Geopolitical Risks
Operations are subject to global demand-supply conditions and international economic developments.
Regulatory & Governance
Industry Regulations
Operations are governed by agricultural sector regulations, government policies, and the Companies Act, 2013.
Taxation Policy Impact
The company is subject to changes in Government tax regimes and amendments in tax laws, which are noted as factors that could materially impact results.
Risk Analysis
Key Uncertainties
The primary uncertainty is the vagaries of temperature and rainfall, which can drastically impact the performance of crops and the company's single-segment revenue.
Geographic Concentration Risk
Operations are concentrated in Ahmedabad, Gujarat, where the registered office is located.
Third Party Dependencies
Significant dependency on Arihant Castor Export Limited for product procurement (INR 2.65 Cr).
