Sabar Flex India Limited (SABAR)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Sabar Flex's revenue was ₹82.0 Cr (-4.7% year on year, +272.7% on the previous half-year), and net profit ₹0.0 Cr; the operating margin was 1.2%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹82.0 | -4.7% | +272.7% |
| Operating profit | ₹1.0 | -50.0% | +0.0% |
| Net profit | ₹0.0 | — | — |
| EPS (₹) | 0.07 | from loss | +0.0% |
| Operating margin | 1.2% | — | — |
SABAR delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the SABAR shares traded on NSE were taken to delivery. The stock has too few sessions on record for a normal to compare with. It closed at its lower price band (circuit) on 16 Oct.
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Sabar Flex India Limited announced the voting results and Scrutinizer's Report for its Annual General Meeting held on September 30, 2026. A total of 46,24,361 votes (24.06% of outstanding shares) were cast, with 100% voting in favour across all resolutions. The approved business included the adoption of FY26 financial statements, appointment of M/s. Sarang Shivajirao Chavan and Associates as Statutory Auditors, and the regularization of two Non-Executive Independent Directors, Ms. Nidhi Jayantibhai Thakar and Ms. Deepika Chauhan.
- Total voter turnout stood at 24.0609% of outstanding shares (46,24,361 shares voted out of 1,92,19,364 total shares).
- All resolutions passed unanimously with 100% of polled votes in favour and 0% against.
- Approved appointment of M/s. Sarang Shivajirao Chavan and Associates as Statutory Auditors.
- Regularized appointment of Ms. Nidhi Jayantibhai Thakar and Ms. Deepika Chauhan as Non-Executive Independent Directors.
- Meeting was attended by 18 shareholders via Video Conferencing (1 promoter, 17 public).
Sabar Flex India Limited announced the appointment of Mr. Aditya Gautambhai Chhunchha as Company Secretary and Compliance Officer effective September 19, 2026. The appointment was approved in a board meeting held from 2:30 PM to 3:00 PM on the same date. The appointee holds an Associate Company Secretary (ACS) qualification and completed 21 months of management training. He holds zero shares in the company, fulfilling statutory requirements under Section 203 of the Companies Act.
- Appointment effective from September 19, 2026
- Board meeting commenced at 2:30 PM and concluded at 3:00 PM
- Appointee completed 21 months of secretarial management training
- Appointee holds NIL (0) shares in the company
- Compliance fulfilled under Section 203 of Companies Act, 2013
Sabar Flex India Limited has issued a notice convening its 8th Annual General Meeting (AGM) on September 30, 2026, via Video Conferencing. Key ordinary agenda items include the adoption of FY26 audited financial statements and the appointment of M/s. Sarang Shivajirao Chavan and Associates as statutory auditors for a 5-year term through 2030-31. Special business resolutions include regularizing Ms. Nidhi Jayantibhai Thakar and Ms. Deepika Chauhan as Independent Directors for 5-year terms, along with appointing M/s SCS AND CO. LLP as Secretarial Auditor for FY 2026-27.
- 8th Annual General Meeting scheduled for September 30, 2026 at 03:00 P.M. IST via VC/OAVM
- Proposed appointment of M/s. Sarang Shivajirao Chavan and Associates as Statutory Auditors for a 5-year term until FY 2030-31
- Regularization and appointment of Ms. Nidhi Jayantibhai Thakar and Ms. Deepika Chauhan as Independent Directors for 5-year terms
- Appointment of M/s SCS AND CO. LLP as Secretarial Auditor for FY 2026-27
Sabar Flex India Limited's Board of Directors has scheduled its 8th Annual General Meeting (AGM) for Wednesday, September 30, 2026, at 3:00 PM via Video Conferencing. The Board approved the Director's Report and appointed M/s SCS and Co LLP as the e-voting scrutinizer. Additionally, the company approved the appointment of M/s. Sarang Shivajirao Chavan and Associates as Statutory Auditors for a 5-year tenure covering FY 2026-27 to FY 2030-31, subject to shareholder approval. The meeting commenced at 11:30 AM and concluded at 12:00 Noon on September 8, 2026.
- 8th Annual General Meeting (AGM) scheduled for September 30, 2026, at 3:00 PM via VC/OAVM
- Appointment of M/s. Sarang Shivajirao Chavan and Associates (FRN: 159649W) as Statutory Auditor for a 5-year term from FY 2026-27 to FY 2030-31
- M/s SCS and Co LLP appointed as Scrutinizer for the AGM e-voting process
- Board meeting held on September 8, 2026, from 11:30 AM to 12:00 Noon (30 minutes duration)
Sabar Flex India Limited has filed a compliance report for the quarter ended June 30, 2026, stating that Regulation 27(2) regarding corporate governance is not applicable. This exemption is provided under Regulation 15(2) of SEBI (LODR) for entities listed on SME exchanges. While this is a routine procedural filing, the company faces significant financial stress with a debt of Rs 27 Cr and a low promoter holding of 15.96%. Investors should note the company's reported liquidity crisis and potential going concern risks mentioned in previous filings.
- Exemption claimed for the quarter ended June 30, 2026, under SEBI Regulation 15(2) for SME-listed entities.
- Promoter holding has significantly declined to 15.96% as of March 2026 from 25.03% in September 2024.
- Company carries a debt of Rs 27 Cr against a net worth of Rs 37 Cr, resulting in a D/E ratio of 0.73.
- Reported revenue of Rs 82.0 Cr for the quarter ended March 2026 with a marginal net profit of Rs 0.0 Cr.
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents. The company adopted its audited financial statements for the year ended March 31, 2025, at its AGM on November 30, 2025, but specific segment growth percentages were not provided.
Geographic Revenue Split
Not disclosed in available documents. Operations are concentrated in Gujarat, with a corporate office in Ahmedabad and a factory in Himmatnagar.
Profitability Margins
Not disclosed in available documents. While the FY2025 financial statements were adopted, specific Gross, Operating, or Net profit margins were not detailed in the announcements.
Credit Rating & Borrowing
Not disclosed in available documents. However, a resignation letter from an Independent Director dated November 5, 2025, explicitly cites non-payment of dues to banks, indicating severe credit stress and potential default status.
Operational Drivers
Raw Materials
Not disclosed in available documents. As a manufacturer of printed flexible packaging materials, the company likely uses plastic polymers and inks, but specific names and cost percentages are not provided.
Key Suppliers
Not disclosed in available documents. The company is reportedly failing to pay 'Other Business Parties,' which likely includes its raw material suppliers.
Raw Material Costs
Not disclosed in available documents. Procurement strategies are likely compromised by the reported non-payment of dues to business partners as of November 2025.
Manufacturing Efficiency
Not disclosed in available documents. Capacity utilization is likely under pressure due to the liquidity crisis mentioned in November 2025.
Strategic Growth
Growth Strategy
The company is pursuing a strategy of altering its Main Object Clause in the Memorandum of Association (MOA), as approved by shareholders on November 30, 2025. This suggests a pivot or expansion into new business areas to address current financial distress and non-payment of bank dues.
Products & Services
All kinds of Printed Flexible Packaging Materials.
Brand Portfolio
SABAR FLEX.
External Factors
Industry Trends
The flexible packaging industry is growing due to FMCG and e-commerce demand, but Sabar Flex is currently unable to capitalize on these trends due to internal liquidity crises and governance issues.
Competitive Moat
Not disclosed in available documents. Any existing moat is currently threatened by the company's inability to meet basic financial obligations to directors and lenders.
Macro Economic Sensitivity
Highly sensitive to credit availability and interest rates. The reported non-payment of bank dues makes the company extremely vulnerable to any tightening of the credit market.
Regulatory & Governance
Industry Regulations
Not disclosed in available documents. The company must comply with plastic waste management and manufacturing standards for packaging, but specific impacts are not detailed.
Legal Contingencies
Potential legal actions and recovery suits from banks and business parties due to non-payment of dues, as explicitly stated in the resignation letter of Independent Director Bhavna Shah on November 5, 2025.
Risk Analysis
Key Uncertainties
The primary uncertainty is the company's ability to continue as a going concern. The resignation of an Independent Director citing non-payment of bank dues and director remuneration is a critical indicator of potential insolvency.
Geographic Concentration Risk
100% of operations are concentrated in Gujarat, specifically Ahmedabad and Himmatnagar, making the company sensitive to regional economic shifts.
Third Party Dependencies
Critical dependency on banks for working capital and business partners for raw materials. Both relationships are currently at high risk due to reported non-payment of dues.
Credit & Counterparty Risk
High risk. The company is failing to meet its own obligations to creditors and directors as of late 2025.
