JHS Svendgaard Retail Ventures Limited (RETAIL)
₹24.82 +4.99% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, JHS Svendgaard's revenue was ₹4.0 Cr (+21.4% year on year, -5.9% on the previous quarter), and net profit ₹0.1 Cr (against a loss a year earlier); the operating margin was -20.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹4.0 | +21.4% | -5.9% |
| Operating profit | ₹-0.8 | loss widened | loss narrowed |
| Net profit | ₹0.1 | from loss | from loss |
| EPS (₹) | 0.23 | from loss | from loss |
| Operating margin | -20.1% | — | — |
RETAIL exchange data
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📢 Recent Corporate Announcements
JHS Svendgaard Retail Ventures Limited conducted its 19th Annual General Meeting on September 29, 2026, with 54 members in attendance. Ordinary business items included the adoption of standalone and consolidated financial statements for FY26 and the reappointment of Mr. Nikhil Nanda, retiring by rotation. Notably, special business included a proposal to approve the waiver of interest receivable from Purple Rock Infra Private Limited, alongside the appointment of two independent directors. Final voting results and the scrutinizer's report will be published separately.
- 19th Annual General Meeting held on September 29, 2026, via Video Conferencing
- A total of 54 members attended the meeting to transact 6 ordinary and special business items
- Resolutions included the waiver of interest receivable from Purple Rock Infra Private Limited
- Appointments of Mrs. Richa Sood and Mr. Mukul Pathak as Independent Directors were placed for voting
JHS Svendgaard Retail Ventures has issued a Postal Ballot notice seeking shareholder approval to amend its Memorandum of Association (MoA) Object Clause to enter the defence, aerospace, and homeland security sectors. The proposed expansion covers design, manufacturing, surveillance, robotics, artificial intelligence, and cyber security solutions for armed forces and government bodies. Remote e-voting runs from September 29, 2026, to October 28, 2026, with the cut-off date set as September 25, 2026. This represents a significant strategic pivot for the micro-cap retail trading firm, which generated ₹17 Cr in TTM revenue.
- E-voting period begins September 29, 2026 (9:00 AM) and concludes October 28, 2026 (5:00 PM)
- Cut-off date for eligible voting members established as September 25, 2026
- Special Resolution proposed to substitute Clause III(A)(iv) of the MoA to add defence, aerospace, and robotics businesses
- Postal Ballot results to be declared on or after October 28, 2026, following scrutiny by M/s. Dahiya & Associates
The Board of JHS Svendgaard Retail Ventures approved significant amendments to its Memorandum of Association (MOA) and Articles of Association (AOA) on September 24, 2026. Under the revised Object Clause III(A)(iv), the micro-cap retail trading firm (TTM revenue of Rs 17 Cr) plans to diversify into designing, manufacturing, assembling, and servicing defence, aerospace, robotic, and cyber security solutions. The AOA is also updated to align with the Companies Act, 2013, including provisions allowing multiple CEOs across different business segments. All amendments remain subject to shareholder approval via special resolution.
- Board approved amending Object Clause III(A)(iv) of the MOA on September 24, 2026, subject to shareholder approval
- Proposed entry into defence, aerospace, homeland security, AI, unmanned systems, and robotics
- AOA altered to permit appointing separate Chief Executive Officers for multiple distinct business segments
- Requires passing of a Special Resolution by members of the company to become effective
JHS Svendgaard Retail Ventures Limited has announced the closure of its trading window starting Thursday, October 1, 2026. This closure is in compliance with SEBI Insider Trading regulations for the quarter and half-year ending September 30, 2026. The restriction applies to designated insiders and their immediate relatives until 48 hours following the declaration of the un-audited financial results. The specific date of the board meeting to review and approve these financial results will be intimated in due course.
- Trading window closes on Thursday, October 1, 2026
- Applies for the quarter and half-year ended September 30, 2026
- Window reopens 48 hours after financial results declaration
- Board meeting date to be intimated separately
JHS Svendgaard Retail Ventures Limited has dispatched a letter containing the web-link and QR code for its FY26 Integrated Annual Report and 19th AGM Notice to shareholders without registered email addresses. The 19th Annual General Meeting is scheduled for September 29, 2026, at 1:00 PM IST via video conferencing. The cut-off date to determine e-voting entitlement is set for September 22, 2026, with remote e-voting running from September 26 to September 28, 2026. This announcement is purely procedural compliance under SEBI Listing Regulations.
- 19th AGM scheduled for 1:00 P.M. IST on Tuesday, September 29, 2026 via VC/OAVM
- Cut-off date for e-voting entitlement is Tuesday, September 22, 2026
- Remote e-voting window opens September 26, 2026 (9:00 AM) and closes September 28, 2026 (5:00 PM)
- Letter sent pursuant to SEBI LODR Regulation 36(1)(b) to shareholders whose email IDs are not registered
JHS Svendgaard Retail Ventures Limited informed exchanges that Dr. Deepali Bhardwaj has resigned as Non-Executive Independent Director, effective August 12, 2026. The resignation is cited as being due to pre-occupancy, with a confirmation that no other material reasons exist. The micro-cap retailer (market cap Rs 39 crore, TTM revenue Rs 17 crore) will need to ensure continued board composition compliance.
- Independent Director Dr. Deepali Bhardwaj resigned with effect from August 12, 2026
- Reason cited for cessation is pre-occupancy, with no other material reasons confirmed
- Director held no other directorships or committee memberships in any other listed entity
- Company market cap stands at Rs 39 crore with TTM revenue of Rs 17 crore
JHS Svendgaard Retail Ventures has issued the notice for its 19th AGM scheduled for September 29, 2026. A key special business item is the proposed waiver of the entire 7% p.a. interest receivable from related party Purple Rock Infra Private Limited on ₹13.50 crore Optionally Convertible Debentures (OCDs). The OCD exposure represents ~51.9% of the company's net worth (₹26 crore), leading to an annual interest income forgone of approximately ₹0.95 crore against TTM revenue of ₹17 crore. The AGM will also vote on the appointment of two Independent Directors for 5-year terms.
- AGM scheduled for September 29, 2026; cut-off date for e-voting is September 22, 2026.
- Proposed full waiver of 7% annual interest receivable on ₹13.50 crore OCDs issued by related party Purple Rock Infra Pvt Ltd.
- OCD holding comprises ₹8.50 crore subscribed on September 1, 2025, and ₹5.00 crore subscribed on August 13, 2026.
- Principal exposure of ₹13.50 crore remains outstanding (equal to ~51.9% of net worth of ₹26 crore).
- Special resolutions include 5-year term appointments for Independent Directors Mrs. Richa Sood and Mr. Mukul Pathak.
JHS Svendgaard Retail Ventures Limited has allotted 23,01,000 fully convertible warrants at an issue price of Rs 25 per warrant on a preferential basis to seven non-promoter investors. The company has received 25% upfront subscription money totaling Rs 1.44 Cr (Rs 6.25 per warrant), with the remaining 75% (Rs 4.31 Cr) payable upon exercise within 18 months. If fully exercised, the total capital raised will amount to Rs 5.75 Cr, representing ~14% of its market cap and ~33.8% of TTM revenue. Top subscriber Purnima Sharma was allotted 10,00,000 warrants (7.45% post-dilution stake).
- Allotted 23,01,000 convertible warrants at Rs 25 per warrant to 7 non-promoter entities
- Received 25% upfront subscription money amounting to Rs 1,43,81,250
- Maximum potential fundraise of Rs 5.75 Cr if all warrants are converted within 18 months
- Top allottees include Purnima Sharma (10.0 lakh warrants, 7.45% post-conversion) and Sunny Bakshi (5.0 lakh warrants, 3.72%)
JHS Svendgaard Retail Ventures approved a complete and permanent waiver of past and future interest (7% p.a.) on ₹13.50 crore Optionally Convertible Debentures held in related party Purple Rock Infra Private Limited, subject to shareholder approval. The company also allotted 23,01,000 convertible warrants at ₹25 each to non-promoter investors, raising ₹1.44 crore upfront (25% subscription) out of a total ₹5.75 crore fundraise. In addition, the board reconstituted its Audit Committee with five directors.
- Permanent waiver of 7% p.a. interest on ₹13.50 crore OCDs issued by related party Purple Rock Infra, keeping only principal intact.
- Allotted 23,01,000 warrants at ₹25 per warrant to 7 non-promoter allottees, raising ₹1.44 crore upfront (25% warrant subscription).
- Total warrant proceeds on 100% conversion will stand at ₹5.75 crore within an 18-month exercise window.
- Reconstituted the Audit Committee under Chairperson Sanjay Sital Sangtani.
JHS Svendgaard Retail Ventures is investing Rs 5 crore into Purple Rock Infra Private Limited, a related party entity in the infrastructure sector. The investment involves subscribing to 50,00,000 Optionally Convertible Debentures (OCDs) with a 7% coupon rate at a face value of Rs 10 each. This is a significant capital allocation representing approximately 31% of the company's TTM revenue and 19% of its net worth. The target entity is a relatively new firm (incorporated March 2024) which reported nil turnover for FY25.
- Investment of Rs 5,00,00,000 in 7% Optionally Convertible Debentures (OCDs)
- Target entity Purple Rock Infra reported Nil turnover for the financial year 2024-25
- Investment represents ~31.2% of the company's TTM revenue of Rs 16 Cr
- Transaction is a related party deal as the company's promoter holds an equity stake in the target
- Subscription to be completed within a 60-day indicative timeline
JHS Svendgaard Retail Ventures Limited has appointed Mrs. Richa Sood and Mr. Mukul Pathak as Non-Executive Independent Directors effective August 13, 2026. Mrs. Sood brings 25 years of aviation experience, while Mr. Pathak has 28 years of experience in teaching and finance. These appointments, which are for a 5-year term subject to shareholder approval, come at a time when the company is managing a small-cap operation with TTM revenue of Rs 16 Cr and negative operating margins of -14.3%. The board has also reconstituted its Nomination and Remuneration Committee to include the new appointees.
- Appointment of 2 new Non-Executive Independent Directors effective August 13, 2026
- Mrs. Richa Sood brings 25 years of professional experience in the aviation industry
- Mr. Mukul Pathak brings 28 years of experience in teaching and finance
- Both directors are appointed for a fixed term of 5 years
- Company operates at a small scale with a market cap of Rs 18 Cr and TTM revenue of Rs 16 Cr
JHS Svendgaard Retail Ventures reported a standalone net profit of ₹0.24 Cr for Q1 FY27, a recovery from the ₹0.04 Cr loss in the year-ago period. The board approved a ₹5 Cr investment in 7% Optionally Convertible Debentures (OCDs) of Purple Rock Infra, a related-party infrastructure firm, representing ~19% of the company's net worth. Crucially, the company admitted to past accounting errors, requiring rectifications in consolidated results for Sep 2025 and Mar 2026 due to failed inter-company eliminations. Two new Independent Directors were also appointed to the board.
- Standalone Q1 FY27 revenue reached ₹4.02 Cr, a 22.6% increase compared to ₹3.28 Cr in Q1 FY26.
- Reported a standalone net profit of ₹24.06 Lakhs (₹0.24 Cr) for the quarter ended June 2026.
- Subscribed to 50,00,000 Optionally Convertible Debentures of Purple Rock Infra Private Limited at ₹10 each, totaling ₹5 Cr.
- Rectified past consolidated financial statements for Sep 2025 and Mar 2026 to eliminate previously overlooked inter-company balances.
- Appointed Mrs. Richa Sood and Mr. Mukul Pathak as Additional Non-Executive Independent Directors.
Dr. Deepali Bhardwaj has resigned from her position as a Non-Executive Independent Director of JHS Svendgaard Retail Ventures Limited effective August 12, 2026. The resignation is attributed to her 'pre-occupancy,' and she confirmed there are no other material reasons for her departure. This management change occurs as the company, with a small market cap of ₹19 Cr, continues to navigate a loss-making period with a TTM PAT of approximately ₹-0 Cr and an operating margin of -14.3%.
- Resignation of Dr. Deepali Bhardwaj (DIN: 06591514) effective from the close of business on August 12, 2026.
- The director cited 'pre-occupancy' as the sole reason for stepping down from the board.
- Company currently operates with a thin TTM revenue of ₹16 Cr and a negative operating profit margin of -14.3%.
- Market capitalization stands at a micro-cap level of ₹19 Cr as of the announcement date.
JHS Svendgaard Retail Ventures Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by Alankit Assignments Limited, confirms that physical share certificates received for dematerialization during the quarter ended June 30, 2026, have been processed. The registrar verified, mutilated, and cancelled the certificates, substituting the depository as the registered owner. This is a standard administrative procedure for all listed companies to maintain electronic shareholding records.
- Compliance certificate issued for the quarter ended 30th June 2026
- Registrar and Share Transfer Agent (RTA) confirmed as Alankit Assignments Limited
- Physical share certificates received were mutilated and cancelled as per SEBI norms
- Company maintains a TTM revenue of ₹16 Cr with a thin net worth of ₹26 Cr
JHS Svendgaard Retail Ventures Limited has announced the closure of its trading window starting July 1, 2026, in preparation for the un-audited financial results for the quarter ended June 30, 2026. This is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are declared. The company will announce the specific date for the board meeting to approve these results in due course.
- Trading window closure begins on July 1, 2026, for the quarter ending June 30, 2026.
- The window will reopen 48 hours after the declaration of un-audited financial results.
- Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the Company's Code of Conduct.
- The restriction applies to all insiders, designated persons, and their immediate relatives.
Financial Performance
Revenue Growth by Segment
Revenue from operations grew by 23.7% YoY, increasing from INR 1,304.81 Lakhs in FY24 to INR 1,614.14 Lakhs in FY25. Total income, including other income, rose 26.4% to INR 2,097.92 Lakhs.
Profitability Margins
Net profit margin for FY25 stood at 0.56% (INR 11.75 Lakhs). Profit before tax (PBT) margin saw a sharp decline from 1.75% in FY24 to 0.05% in FY25, primarily due to a 34.8% increase in employee costs and a 214.9% surge in finance costs.
EBITDA Margin
Operating profit before working capital changes was INR 307.85 Lakhs in FY25, representing an EBITDA-equivalent margin of 14.7% of total income, compared to 2.8% in FY24.
Capital Expenditure
Depreciation and amortization expenses were INR 278.31 Lakhs in FY25, a significant increase from INR 226.18 Lakhs in FY24, indicating recent additions to fixed assets or retail infrastructure.
Credit Rating & Borrowing
Finance costs increased by 214.9% YoY to INR 101.20 Lakhs in FY25, suggesting a substantial increase in debt levels or higher interest rates on borrowings.
Operational Drivers
Raw Materials
Stock-in-trade (Retail inventory) represents the primary cost of goods, totaling INR 837.45 Lakhs in FY25.
Capacity Expansion
The company expanded its corporate structure by acquiring a new subsidiary, PJHS Entertainment Private Limited, during the H1 FY26 period.
Raw Material Costs
Purchases of stock-in-trade accounted for 51.9% of revenue from operations in FY25 (INR 837.45 Lakhs), compared to 54.3% in FY24.
Manufacturing Efficiency
Not applicable as the company operates in the retail/trading sector; however, employee efficiency is a concern as employee benefits expense reached 45.3% of revenue.
Logistics & Distribution
Other expenses, which include distribution and operational costs, rose 42.8% to INR 192.22 Lakhs in FY25.
Strategic Growth
Expected Growth Rate
23.70%
Growth Strategy
Growth is being driven by the acquisition of subsidiaries like PJHS Entertainment Private Limited and a 23.7% increase in operational revenue. The company is focusing on scaling its retail ventures while maintaining internal financial controls to manage the risks associated with rapid expansion.
Products & Services
Retail trading goods and services provided through its retail venture outlets.
Brand Portfolio
JHS Svendgaard Retail Ventures.
New Products/Services
Expansion into entertainment-related retail through the newly acquired subsidiary PJHS Entertainment Private Limited.
Market Expansion
The company transitioned from a Private Limited to a Limited company (JHS Svendgaard Retail Ventures Limited) to facilitate broader market participation.
Strategic Alliances
Acquisition of PJHS Entertainment Private Limited as a subsidiary.
External Factors
Industry Trends
The retail sector is evolving towards stricter regulatory compliance, evidenced by the mandatory implementation of audit trail software for all transactions from April 2024.
Competitive Landscape
Operates in a competitive retail environment requiring high working capital, as seen in the INR 179.21 Lakhs operating profit before working capital changes being offset by inventory and receivable adjustments.
Competitive Moat
The company's moat is currently weak, characterized by low margins (0.56% net) and high sensitivity to operational costs like employee benefits and interest rates.
Macro Economic Sensitivity
Highly sensitive to consumer spending trends and interest rate fluctuations due to the 214.9% increase in finance costs.
Consumer Behavior
Shift towards organized retail ventures, supporting the 23.7% revenue growth.
Regulatory & Governance
Industry Regulations
Compliance with Section 143(3) of the Companies Act 2013 and Rule 3(1) of the Companies (Accounts) Rules 2014 regarding audit trails and internal financial controls.
Taxation Policy Impact
The company benefited from a deferred tax credit of INR 10.75 Lakhs in FY25, which turned a PBT of INR 1.01 Lakhs into a Net Profit of INR 11.75 Lakhs.
Legal Contingencies
The auditor reported that there are no instances of tampered audit trails and the company has maintained proper books of account as required by law.
Risk Analysis
Key Uncertainties
Management override of controls and collusion are noted as inherent limitations that could lead to undetected material misstatements.
Third Party Dependencies
Dependency on the parent company and the newly acquired subsidiary PJHS Entertainment Private Limited for consolidated performance.
Technology Obsolescence Risk
Risk of inadequate internal financial controls if accounting software and audit trail features are not continuously updated to meet changing conditions.
Credit & Counterparty Risk
Trade receivables decreased by INR 6.82 Lakhs in H1 FY26, suggesting active management of credit exposure.
