Sahyadri Industries Limited (SAHYADRI)
₹337.65 +1.24% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Sahyadri Industries' revenue was ₹259 Cr (+20.3% year on year, +32.6% on the previous quarter), and net profit ₹26.5 Cr (+141.1% year on year); the operating margin was 15.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹259 | +20.3% | +32.6% |
| Operating profit | ₹39.0 | +95.2% | +105.5% |
| Net profit | ₹26.5 | +141.1% | +141.1% |
| EPS (₹) | 24.22 | +146.1% | +151.2% |
| Operating margin | 15.1% | — | — |
SAHYADRI delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 53.46% of the SAHYADRI shares traded on NSE were taken to delivery, against the stock's own 20-session average of 66.38%. That is lower than usual for this stock. Turnover was only ₹5 lakh, so a handful of trades can move this figure. Volume was 0.1 times its average, well below normal.
Delivery in the last 5 sessions: 72.9% · 82.1% · 81.7% · 73.2% · 53.5%
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
Sahyadri Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate covers the quarter ended September 30, 2026, and was issued by its Registrar and Share Transfer Agent, MUFG Intime India Pvt. Ltd. The RTA confirmed that securities received for dematerialisation were processed, confirmed or rejected, and that certificates were mutilated and cancelled as required within statutory timelines. This represents a purely administrative filing with no financial or operational impact.
- Compliance certificate submitted under Regulation 74(5) for quarter ended 30th September 2026
- Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited
- RTA confirmation letter dated 03-10-2026 submitted to exchanges on 08th October, 2026
Sahyadri Industries Limited submitted the Scrutinizer's Report and voting results for its 32nd Annual General Meeting held on August 17, 2026. A total of 7,816,759 votes were polled out of 10,946,300 outstanding shares, representing a 71.41% turnout. Key resolutions approved include the reappointment of Statutory Auditors M/s Joshi Apte & Company for a 5-year term, ratification of Cost Auditor remuneration for FY27, and the reappointment of Independent Director Mr. Ankem Sri Prasad Mohan for 5 years. All resolutions were approved with near-unanimous (>99.99%) support.
- 32nd AGM concluded on August 17, 2026, via Video Conferencing.
- Total voter turnout stood at 71.41% (7,816,759 votes polled on 10,946,300 outstanding shares).
- Statutory Auditors M/s Joshi Apte & Company re-appointed for a second 5-year term with 99.99% votes in favour.
- Independent Director Mr. Ankem Sri Prasad Mohan re-appointed for a second 5-year term with 99.99% approval.
Sahyadri Industries Limited conducted its 32nd Annual General Meeting on August 17, 2026, via video conferencing. Shareholders transacted key ordinary and special business, including the adoption of FY26 financial statements and declaration of a final dividend of Re. 1.5 per equity share. Key approvals also encompassed the re-appointment of director Mr. Tuljaram Maheshwari, re-appointment of Statutory Auditors M/s Joshi Apte & Company for a 5-year second term, and re-appointment of Independent Director Mr. Ankem Sri Prasad Mohan for a 5-year second term. Formal scrutinizer results will be submitted separately pursuant to SEBI regulations.
- Declared/considered final dividend of Re. 1.5 per equity share for FY26
- Re-appointed M/s Joshi Apte & Company as Statutory Auditors for a 5-year second term
- Re-appointed Mr. Ankem Sri Prasad Mohan as Independent Director for a 5-year term
- AGM held on 17th August 2026, concluding at 04:44 p.m. IST
Sahyadri Industries reported a robust Q1 FY27 with total income rising 20.9% YoY to ₹261.3 crore. Profitability saw a significant surge, with PAT increasing 145.4% YoY to ₹26.5 crore, driven by improved capacity utilization which reached 103% compared to 93% in the previous year. The company declared an interim dividend of ₹2.5 per share (25% of face value). Despite geopolitical headwinds affecting exports, EBITDA margins expanded significantly to 16.0%.
- Total income grew 20.9% YoY to ₹261.3 crore in Q1 FY27
- PAT surged 145.4% YoY to ₹26.5 crore, representing a 150% QoQ increase
- Capacity utilization reached 103% in Q1 FY27, up from 93% in Q1 FY26
- EBITDA margin improved to 16.0%, a 58.4% increase over the previous year
- Board recommended an interim dividend of 25% (₹2.5 per share of ₹10 face value)
Sahyadri Industries reported a robust Q1 FY27 with total income rising 20.9% YoY to ₹261.3 Cr and PAT jumping 145.4% to ₹26.5 Cr. Operational efficiency improved significantly as capacity utilization reached 103%, up from 93% in the previous year. The company is progressing on a ₹190 Cr capex plan for new units in Maharashtra and Odisha to expand its footprint in North and East India. Additionally, the board declared an interim dividend of ₹2.5 per share (25% of face value).
- Total Income grew 20.9% YoY to ₹261.3 Cr in Q1 FY27 compared to ₹216.1 Cr in Q1 FY26.
- EBITDA margins expanded significantly to 16.0% from 10.1% in the same quarter last year.
- Capacity utilization reached 103% in Q1 FY27, indicating the company is operating at peak efficiency.
- Ongoing ₹190 Cr capex split equally (₹95 Cr each) between Maharashtra and Odisha for new manufacturing units.
- Board recommended an interim dividend of ₹2.5 per share for FY27.
Sahyadri Industries reported a strong Q1 FY27 with Net Profit surging 146% YoY to ₹26.52 Cr, up from ₹10.77 Cr in the previous year. Revenue from operations grew 20.5% YoY to ₹258.58 Cr, driven by the Building Materials segment. The Board declared an interim dividend of ₹2.50 per share (25% of face value) with a record date of August 21, 2026. The company also confirmed progress on its ₹200 Cr capex plan, including a new 1,20,000 MT unit in Odisha.
- Net Profit for Q1 FY27 increased by 146.2% YoY to ₹26.52 Cr.
- Interim Dividend of ₹2.50 per equity share declared for FY 2026-27.
- Revenue from operations rose to ₹258.58 Cr in Q1 FY27 from ₹214.58 Cr YoY.
- Progressing on a 1,20,000 MT Asbestos Corrugated Sheet unit in Odisha.
- Initiated land acquisition for a 72,000 MT Non-Asbestos Cement Boards plant in Maharashtra.
Sahyadri Industries reported a robust Q1 FY27 with revenue from operations growing 20.5% YoY to ₹258.58 Cr. Net profit surged 146% to ₹26.52 Cr compared to ₹10.77 Cr in the previous year's corresponding quarter, driven by strong performance in the Building Material segment. The board declared an interim dividend of ₹2.50 per share (25% of face value) with a record date of August 21, 2026. The company is also progressing on its ₹200 Cr capex plan, including a new 1,20,000 MT unit in Odisha.
- Net Profit surged 146.2% YoY to ₹26.52 Cr for the quarter ended June 30, 2026.
- Interim dividend of ₹2.50 per equity share declared for FY 2026-27.
- Revenue from operations increased to ₹258.58 Cr from ₹214.58 Cr in Q1 FY26.
- Building Material segment profit doubled to ₹33.22 Cr from ₹13.86 Cr YoY.
- Ongoing expansion of 1,20,000 MT Asbestos Corrugated Sheet unit in Odisha and 72,000 MT Non-Asbestos plant in Maharashtra.
Sahyadri Industries reported a robust Q1 FY27 with revenue growing 20.5% YoY to ₹258.58 Cr. Net profit surged 146% YoY to ₹26.52 Cr, driven by strong performance in the Building Material segment which contributed ₹256.20 Cr to revenue. The board declared an interim dividend of ₹2.50 per share (Record Date: Aug 21, 2026). The company also provided updates on its ₹200 Cr capex plan, including a new 1,20,000 MT unit in Odisha and a 72,000 MT plant in Maharashtra.
- Net Profit for Q1 FY27 rose to ₹26.52 Cr from ₹10.77 Cr in the same quarter last year.
- Revenue from operations increased 20.5% YoY to ₹258.58 Cr.
- Interim dividend of ₹2.50 per equity share declared for FY 2026-27.
- Setting up a new 1,20,000 MT Asbestos Corrugated Sheet unit in Odisha is currently in progress.
- Initiated land acquisition for a 72,000 MT Non-Asbestos Cement Boards plant in Maharashtra.
Sahyadri Industries has scheduled a Board of Directors meeting for August 12, 2026, to consider the declaration of an interim dividend for the financial year 2026-27. Along with the dividend proposal, the board will also determine the record date for the payout. In compliance with SEBI insider trading regulations, the trading window for company securities is closed from August 5, 2026, until August 14, 2026. This follows a March 2026 quarter where the company reported a net profit of ₹10.55 crore on revenue of ₹194.52 crore.
- Board meeting scheduled for August 12, 2026, to consider interim dividend.
- Trading window closed from August 5, 2026, to August 14, 2026.
- Company reported a net profit of ₹10.55 crore in the March 2026 quarter.
- Promoter holding remains stable at 71.12% as of June 2026.
- Company maintains a low debt profile of ₹17 crore against a net worth of ₹406 crore.
Sahyadri Industries has fixed August 7, 2026, as the record date for its final dividend of ₹1.5 per share for FY 2025-26. This follows the board's recommendation from May 9, 2026, and requires shareholder approval at the upcoming 32nd AGM. The dividend payment is scheduled to be completed by September 9, 2026. With the stock trading at ₹285.8, the yield is approximately 0.52%, reflecting a routine payout.
- Final dividend of ₹1.5 per equity share of face value ₹10
- Record date for eligibility fixed as August 7, 2026
- Dividend payment date scheduled for September 9, 2026
- Announcement pertains to the 32nd Annual General Meeting for FY 2025-26
Sahyadri Industries Limited has scheduled its 32nd Annual General Meeting (AGM) for August 17, 2026, to be conducted via video conferencing. The company has established August 10, 2026, as the cut-off date for determining shareholder eligibility for e-voting. This meeting follows a quarter where the company reported a net profit of ₹10.55 crore (March 2026). Investors will likely look for updates regarding the company's ₹200 crore capex plan for new plants in Maharashtra and Odisha.
- 32nd Annual General Meeting scheduled for August 17, 2026, at 03:30 P.M.
- Cut-off date for e-voting entitlement fixed as August 10, 2026
- Company is currently executing a ₹200 crore capex plan, representing ~49% of its ₹406 crore net worth
- Latest quarterly net profit stood at ₹10.55 crore for the period ending March 2026
Sahyadri Industries has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by MUFG Intime India Pvt. Ltd., confirms that all share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and listed on the stock exchanges. The registrar also confirmed that mutilated certificates were cancelled and the depositories' names were updated in the register of members. This is a standard administrative filing with no impact on business operations or financials.
- Confirmation of compliance for the quarter ended June 30, 2026
- Registrar MUFG Intime India Pvt. Ltd. processed all dematerialization requests within prescribed timelines
- Securities comprised in the certificates are listed on the BSE and NSE
- Mutilated security certificates were cancelled after due verification by the depository participant
Sahyadri Industries Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. This closure is ahead of the declaration of financial results for the quarter ending June 30, 2026. The restriction applies to all designated persons and their immediate relatives. The trading window will reopen 48 hours after the official announcement of the quarterly financial results.
- Trading window closure begins on Wednesday, July 1, 2026.
- Closure is related to the financial results for the quarter ended June 30, 2026.
- Window will remain closed until 48 hours after the results are declared.
- Applies to all designated persons and their immediate relatives as per SEBI regulations.
Sahyadri Industries Limited has announced the successful passage of two special resolutions via postal ballot. Shareholders overwhelmingly approved the appointment of Mr. Sunil Suratwala as a Non-Executive Independent Director and the re-appointment of Mrs. Moushmi Shaha for a second five-year term. Both resolutions received 99.99% of the total votes cast, indicating strong shareholder confidence in the board's composition. The total voting turnout represented approximately 71.51% of the company's total equity base.
- Appointment of Mr. Sunil Suratwala as Independent Director for 5 years approved with 99.99% votes.
- Re-appointment of Mrs. Moushmi Shaha for a second 5-year term passed with 99.99% majority.
- Total votes polled reached 7,827,676, accounting for 71.51% of the total 10,946,300 shares.
- Promoter group participation was 100% of their holdings, contributing 7,784,791 votes in favor.
- Public non-institutional shareholders showed 98.18% support for the proposed resolutions.
Sahyadri Industries Limited has initiated a Postal Ballot to seek shareholder approval for key board appointments. The company proposes appointing Mr. Sunil Suratwala as a Non-executive Independent Director and re-appointing Mrs. Moushmi Shaha for a second five-year term. The e-voting period is set for May 24 to June 22, 2026, based on a record date of May 15, 2026. These resolutions require a special majority to pass, ensuring continued independent oversight on the board.
- Proposed 5-year term for Mr. Sunil Suratwala as Independent Director effective May 9, 2026.
- Proposed second 5-year term for Mrs. Moushmi Shaha starting July 22, 2026.
- E-voting window opens May 24, 2026, and closes June 22, 2026.
- Results of the postal ballot to be announced on or before June 24, 2026.
Financial Performance
Revenue Growth by Segment
Building Material segment revenue grew 6.17% in H1 FY26 to INR 334.40 Cr from INR 314.96 Cr in H1 FY25. Power Generation segment revenue declined 24.6% in H1 FY26 to INR 9.90 Cr from INR 13.13 Cr in H1 FY25.
Geographic Revenue Split
The company maintains a dominant market share in Western India (Maharashtra and Gujarat) and a strong presence in Southern India. It is currently expanding its footprint into North and East India to become a pan-India player.
Profitability Margins
EBITDA margin declined from 11.1% in FY24 to 9.5% in FY25. PAT margin decreased from 4.1% in FY24 to 3.2% in FY25. These declines were driven by lower volume offtake and increased input costs, particularly imported fiber.
EBITDA Margin
EBITDA margin was 9.5% in FY25, representing a 160 bps decline from 11.1% in FY24. Core profitability was impacted by seasonal headwinds and US dollar strength affecting import costs.
Capital Expenditure
The company has planned a capital expenditure of approximately INR 200 Cr for new manufacturing facilities in Maharashtra and Odisha to drive the next leg of growth.
Credit Rating & Borrowing
Long-term rating is [ICRA]A- (Stable) and Short-term rating is [ICRA]A2+. Leverage metrics are adequate with a Debt-to-Equity ratio of 0.21 as of March 2025.
Operational Drivers
Raw Materials
Asbestos Fiber (imported) and Cement are the primary raw materials. Imported fiber costs are highly sensitive to USD/INR fluctuations, impacting overall margins by approximately 150 bps.
Import Sources
Asbestos fiber is sourced from asbestos-producing countries. The company relies on imports for a significant portion of its fiber requirements.
Capacity Expansion
Planned expansion includes new facilities in Maharashtra and Odisha with an estimated investment of INR 200 Cr to cater to growing demand in Western and Eastern India.
Raw Material Costs
Raw material costs are a significant portion of revenue. Operating margins declined to ~9% in FY25 due to a marginal increase in costs and lower volume offtake.
Manufacturing Efficiency
The company reported higher capacity utilization of installed capacity in 9M FY24, supporting a 9% growth in operating income during that period.
Logistics & Distribution
The company utilizes a strong distribution network of over 3,000 dealers and distributors across India to manage product reach.
Strategic Growth
Expected Growth Rate
9%
Growth Strategy
Growth will be achieved through a INR 200 Cr capex for new plants in Maharashtra and Odisha, increasing the share of margin-rich Value-Added Products (VAP), and expanding market presence into North and East India.
Products & Services
Roofing Sheets (Asbestos and Non-Asbestos), Fibre Cement Boards, and Flat Sheets.
Brand Portfolio
Swastik, Cemply, Ecopro, and Swastik Sil Gold.
New Products/Services
Recently launched 'Swastik Sil Gold' roofing sheets to enhance the product portfolio and market penetration.
Market Expansion
Targeting expansion into newer territories across North and East India while strengthening market share in existing Western and Southern geographies.
Market Share & Ranking
Established market leader in the roofing sheets segment in Western India, particularly in Maharashtra and Gujarat.
Strategic Alliances
The company does not have any subsidiaries, associates, or joint ventures as of September 30, 2025.
External Factors
Industry Trends
The building materials industry is shifting toward non-asbestos and value-added products. Sahyadri is positioning itself by increasing its non-asbestos revenue share to 26%.
Competitive Landscape
Niche player in the construction industry with a focus on roofing and boards; faces competition from other building material manufacturers in the Western region.
Competitive Moat
Sustainable advantages include a 70-year group legacy (Patel Group), a massive network of 3,000+ dealers, and established brand equity in 'Swastik'.
Macro Economic Sensitivity
Highly sensitive to monsoon patterns (seasonal demand) and US Dollar exchange rates (import costs).
Consumer Behavior
Increasing demand for innovative, specialized, and futuristic building products capable of addressing modern construction challenges.
Geopolitical Risks
Regulatory risks associated with potential bans on asbestos mining or use in producing countries could disrupt raw material supply.
Regulatory & Governance
Industry Regulations
Exposed to significant regulatory risk regarding the use or manufacture of asbestos-related products, which accounted for 86% of H1 FY24 revenue.
Environmental Compliance
Maintains ISO 14001:2015 (Environment) and ISO 45001:2018 (Safety) certifications across all plants and the head office.
Risk Analysis
Key Uncertainties
The primary uncertainty is the potential for a regulatory ban on asbestos products, which could impact up to 86% of revenue if not mitigated by the shift to non-asbestos lines.
Geographic Concentration Risk
High concentration in Western India (Maharashtra and Gujarat), though expansion into East and North India is underway to diversify.
Third Party Dependencies
High dependency on international suppliers for asbestos fiber imports.
Technology Obsolescence Risk
Risk of traditional roofing sheets being replaced by newer, non-asbestos or alternative building technologies.
Credit & Counterparty Risk
Receivables quality is supported by a large, fragmented dealer network, reducing individual counterparty risk.
