Sharvaya Metals Ltd (544506)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Sharvaya Metals' revenue was ₹140 Cr (+97.2% year on year, +55.6% on the previous half-year), and net profit ₹2.0 Cr (-75.0% year on year); the operating margin was 2.9%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹140 | +97.2% | +55.6% |
| Operating profit | ₹4.0 | -69.2% | -71.4% |
| Net profit | ₹2.0 | -75.0% | -77.8% |
| EPS (₹) | 2.27 | -78.9% | -75.7% |
| Operating margin | 2.9% | — | — |
📢 Recent Corporate Announcements
Sharvaya Metals has issued an EGM notice to approve the acquisition of 100% paid-up capital of Success Electronics Private Limited via a share swap valued at ₹30.24 Cr. The company will issue up to 21,00,000 equity shares at ₹144 per share on a preferential basis to the sellers (swap ratio of 21:2). The transaction consideration represents approximately 39.3% of the company's net worth (₹77 Cr) and 8.8% of TTM revenue (₹342 Cr). Additionally, the company will seek shareholder approval to increase its authorized share capital from ₹11.10 Cr to ₹15.00 Cr at the EGM scheduled for November 06, 2026.
- Acquiring 2,00,000 equity shares (100% stake) of Success Electronics Private Limited via share swap
- Issuing up to 21,00,000 equity shares at ₹144 per share, totaling ₹30.24 Cr
- Swap ratio fixed at 21 equity shares of Sharvaya Metals for every 2 shares of Success Electronics
- Increase in authorized share capital from ₹11.10 Cr (1.11 Cr shares) to ₹15.00 Cr (1.50 Cr shares)
- EGM scheduled on Friday, November 06, 2026, with relevant pricing date set as October 07, 2026
Sharvaya Metals has approved the acquisition of 100% of Success Electronics Private Limited for ₹30.24 crore via a share swap, issuing 21,00,000 equity shares at ₹144 each. Success Electronics manufactures aluminium high-pressure die-cast components for EVs and reported H1 turnover of ₹4.48 crore and net profit of ₹88.61 lakh as of September 30, 2026. The acquisition is a related party transaction involving promoter Mr. Shreyans Ravindra Katariya. Additionally, the company approved issuing 8,11,000 convertible warrants at ₹144 per warrant, raising ₹11.68 crore primarily from promoters.
- 100% acquisition of Success Electronics Private Limited for ₹30,24,00,000 via share swap (21 equity shares of Sharvaya for every 2 shares of Success)
- Issuance of 21,00,000 equity shares at ₹144 per share as non-cash purchase consideration
- Preferential issuance of up to 8,11,000 convertible warrants at ₹144 each, raising up to ₹11,67,84,000
- Target recorded H1 turnover of ₹4.48 crore and PAT of ₹88.61 lakh as of September 30, 2026
- Acquisition is a related-party transaction involving promoters, requiring shareholder approval via an upcoming EGM
Sharvaya Metals has approved the acquisition of 100% of Success Electronics Private Limited for ₹30.24 crore via a share swap, issuing 21,00,000 equity shares at ₹144 each. Success Electronics manufactures aluminium high-pressure die-cast components for EVs and reported H1 turnover of ₹4.48 crore and net profit of ₹88.61 lakh as of September 30, 2026. The acquisition is a related party transaction involving promoter Mr. Shreyans Ravindra Katariya. Additionally, the company approved issuing 8,11,000 convertible warrants at ₹144 per warrant, raising ₹11.68 crore primarily from promoters.
- 100% acquisition of Success Electronics Private Limited for ₹30,24,00,000 via share swap (21 equity shares of Sharvaya for every 2 shares of Success)
- Issuance of 21,00,000 equity shares at ₹144 per share as non-cash purchase consideration
- Preferential issuance of up to 8,11,000 convertible warrants at ₹144 each, raising up to ₹11,67,84,000
- Target recorded H1 turnover of ₹4.48 crore and PAT of ₹88.61 lakh as of September 30, 2026
- Acquisition is a related-party transaction involving promoters, requiring shareholder approval via an upcoming EGM
Sharvaya Metals has approved the acquisition of 100% of Success Electronics Private Limited for ₹30.24 crore via a share swap, issuing 21,00,000 equity shares at ₹144 each. Success Electronics manufactures aluminium high-pressure die-cast components for EVs and reported H1 turnover of ₹4.48 crore and net profit of ₹88.61 lakh as of September 30, 2026. The acquisition is a related party transaction involving promoter Mr. Shreyans Ravindra Katariya. Additionally, the company approved issuing 8,11,000 convertible warrants at ₹144 per warrant, raising ₹11.68 crore primarily from promoters.
- 100% acquisition of Success Electronics Private Limited for ₹30,24,00,000 via share swap (21 equity shares of Sharvaya for every 2 shares of Success)
- Issuance of 21,00,000 equity shares at ₹144 per share as non-cash purchase consideration
- Preferential issuance of up to 8,11,000 convertible warrants at ₹144 each, raising up to ₹11,67,84,000
- Target recorded H1 turnover of ₹4.48 crore and PAT of ₹88.61 lakh as of September 30, 2026
- Acquisition is a related-party transaction involving promoters, requiring shareholder approval via an upcoming EGM
Sharvaya Metals has approved the acquisition of 100% of Success Electronics Private Limited for ₹30.24 crore via a share swap, issuing 21,00,000 equity shares at ₹144 each. Success Electronics manufactures aluminium high-pressure die-cast components for EVs and reported H1 turnover of ₹4.48 crore and net profit of ₹88.61 lakh as of September 30, 2026. The acquisition is a related party transaction involving promoter Mr. Shreyans Ravindra Katariya. Additionally, the company approved issuing 8,11,000 convertible warrants at ₹144 per warrant, raising ₹11.68 crore primarily from promoters.
- 100% acquisition of Success Electronics Private Limited for ₹30,24,00,000 via share swap (21 equity shares of Sharvaya for every 2 shares of Success)
- Issuance of 21,00,000 equity shares at ₹144 per share as non-cash purchase consideration
- Preferential issuance of up to 8,11,000 convertible warrants at ₹144 each, raising up to ₹11,67,84,000
- Target recorded H1 turnover of ₹4.48 crore and PAT of ₹88.61 lakh as of September 30, 2026
- Acquisition is a related-party transaction involving promoters, requiring shareholder approval via an upcoming EGM
Sharvaya Metals has approved the acquisition of 100% of Success Electronics Private Limited for ₹30.24 crore via a share swap, issuing 21,00,000 equity shares at ₹144 each. Success Electronics manufactures aluminium high-pressure die-cast components for EVs and reported H1 turnover of ₹4.48 crore and net profit of ₹88.61 lakh as of September 30, 2026. The acquisition is a related party transaction involving promoter Mr. Shreyans Ravindra Katariya. Additionally, the company approved issuing 8,11,000 convertible warrants at ₹144 per warrant, raising ₹11.68 crore primarily from promoters.
- 100% acquisition of Success Electronics Private Limited for ₹30,24,00,000 via share swap (21 equity shares of Sharvaya for every 2 shares of Success)
- Issuance of 21,00,000 equity shares at ₹144 per share as non-cash purchase consideration
- Preferential issuance of up to 8,11,000 convertible warrants at ₹144 each, raising up to ₹11,67,84,000
- Target recorded H1 turnover of ₹4.48 crore and PAT of ₹88.61 lakh as of September 30, 2026
- Acquisition is a related-party transaction involving promoters, requiring shareholder approval via an upcoming EGM
Sharvaya Metals has scheduled a Board of Directors meeting on October 14, 2026, to evaluate multiple strategic corporate actions. Key agenda items include an increase in authorized share capital and potential fundraising via preferential issue of equity shares, warrants, or convertible securities. The board will also consider and approve an entity acquisition and determine dates for convening an Extraordinary General Meeting (EGM). Specific financial details, quantum of fundraise, and acquisition targets are not disclosed ahead of the meeting.
- Board meeting scheduled for October 14, 2026, at 11 AM at the registered office
- Agenda includes increasing authorized share capital and altering MOA Clause V
- Proposal to evaluate fundraising via preferential issue of shares, warrants, or convertible securities
- Board to consider and approve acquisition of an undisclosed entity
Sharvaya Metals Limited has successfully commissioned a new state-of-the-art 10-inch aluminium extrusion press at its Ahilyanagar, Maharashtra plant, formally inaugurated on October 5, 2026. This setup integrates billet heating, online quenching, puller and stretcher systems, and ageing facilities to complete its alloy-to-component value chain. The addition targets high-margin applications across Defence, Aerospace, Railways, and Electric Vehicles (EVs). For a company with TTM revenue of ₹342 Cr and FY26 revenue of ₹230 Cr, moving up the value chain could help protect against raw material price volatility.
- Successfully commissioned a 10-inch billet aluminium extrusion press on October 5, 2026
- Facility installed at the company's existing manufacturing plant in Ahilyanagar, Maharashtra
- Integrates complete extrusion setup including online quenching, puller/stretcher, and ageing facilities
- Enables value-added supply to high-precision sectors including Defence, Aerospace, Railways, and EVs
Financial Performance
Revenue Growth by Segment
The company operates in a single business segment: manufacturing of aluminum products. Revenue from operations for H1 FY26 reached INR 89.97 Cr, representing a significant growth of 117.7% compared to INR 41.31 Cr in H1 FY25.
Geographic Revenue Split
Not disclosed in available documents. The company's registered office and factory are located in Ahmednagar, Maharashtra.
Profitability Margins
Profitability showed substantial improvement; Net Profit Margin for H1 FY26 was 10.43% (INR 9.39 Cr PAT on INR 89.97 Cr revenue), compared to a low PAT margin of 1.40% (INR 1.00 Cr) in FY24.
EBITDA Margin
EBITDA margin for H1 FY26 was approximately 15.7% (INR 14.17 Cr), a sharp increase from the 5.09% PBILDT margin reported in FY24.
Capital Expenditure
Historical capital expenditure for H1 FY26 was INR 1.14 Cr for the purchase of tangible assets, following a larger expenditure of INR 4.25 Cr in FY25.
Credit Rating & Borrowing
The credit rating was CARE B-; Stable; ISSUER NOT COOPERATING, which was reaffirmed and subsequently withdrawn in October 2024. Implied borrowing costs are approximately 11% based on H1 FY26 finance costs of INR 0.88 Cr against total debt of ~INR 16.23 Cr.
Operational Drivers
Raw Materials
Aluminum scrap is the primary raw material, accounting for approximately 93% of the total cost of sales in FY24.
Key Suppliers
Not disclosed in available documents, though the company maintains established relationships with various industry suppliers.
Raw Material Costs
Cost of material consumed in H1 FY26 was INR 80.38 Cr, representing 89.3% of revenue. The company employs a strategy of passing on raw material price increases to clients to mitigate volatility.
Logistics & Distribution
Not disclosed in available documents; however, other expenses (including distribution) were INR 2.91 Cr in H1 FY26, or 3.2% of revenue.
Strategic Growth
Expected Growth Rate
25-30%
Growth Strategy
Growth is driven by the company's recent listing on the BSE SME platform (September 2025), which infused significant capital (Cash and equivalents jumped to INR 37.39 Cr). The strategy focuses on expanding the manufacturing of high-precision aluminum components for the Electric Vehicle (EV) market and leveraging experienced promoters to deepen relationships with utensil brands.
Products & Services
Aluminum Alloyed Ingots, Aluminum circles, Aluminum Billets, Aluminum Sheets, and high-precision Aluminum components for Electric Vehicles.
Brand Portfolio
Sharvaya Metals.
New Products/Services
High-precision aluminum components specifically designed for Electric Vehicles (EVs).
Market Expansion
The company transitioned to a public limited company in February 2024 and listed on the BSE SME platform in September 2025 to fund its next phase of growth.
Market Share & Ranking
Not disclosed in available documents; industry is described as highly competitive and fragmented.
Strategic Alliances
Established relationships with reputed utensil brands and various suppliers in the aluminum industry.
External Factors
Industry Trends
The industry is shifting toward lightweight materials, benefiting aluminum manufacturers. The rapid growth of the EV sector is a primary driver for high-precision aluminum components.
Competitive Landscape
Intense competition from both organized and unorganized domestic and global players in the aluminum products sector.
Competitive Moat
The moat is based on the promoters' decade-long experience and the company's early entry into the specialized EV component supply chain, which provides a competitive edge over unorganized players.
Macro Economic Sensitivity
Highly sensitive to industrial production growth and GDP, particularly in the automotive and consumer utensil sectors.
Consumer Behavior
Increasing consumer and regulatory preference for Electric Vehicles is shifting demand toward specialized aluminum alloy products.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013, SEBI (LODR) Regulations 2015 for SME listed companies, and industrial manufacturing standards.
Environmental Compliance
Not disclosed in available documents, though metal manufacturing is subject to stringent pollution control norms.
Taxation Policy Impact
The effective tax rate for H1 FY26 was approximately 28.4%, with tax expenses totaling INR 3.72 Cr.
Risk Analysis
Key Uncertainties
Volatility in aluminum scrap prices (93% of cost) and the ability to maintain margins in a highly competitive, fragmented market.
Geographic Concentration Risk
Operations are concentrated at a single manufacturing facility in Ahmednagar, Maharashtra.
Third Party Dependencies
High dependency on third-party suppliers for aluminum scrap procurement.
Technology Obsolescence Risk
Risk of technology shifts in EV component manufacturing requiring continuous investment in high-precision machinery.
Credit & Counterparty Risk
Trade receivables stood at INR 12.62 Cr as of September 30, 2025, representing approximately 14% of H1 revenue.
