SIL - Standard Inds.
📢 Recent Corporate Announcements
Standard Industries Limited (SIL) has issued a formal communication to shareholders regarding Tax Deduction at Source (TDS) for its interim dividend of ₹0.55 per equity share for FY 2025-26. The dividend was declared by the Board on February 12, 2026, and is applicable to shares with a face value of ₹5 each. Resident shareholders will be subject to a 10% TDS if a valid PAN is provided and linked with Aadhaar, while a 20% rate applies otherwise. Non-resident shareholders face a 20% withholding tax, subject to potential benefits from Double Tax Avoidance Agreements (DTAA) if documentation is submitted by February 20, 2026.
- Interim dividend declared at ₹0.55 per equity share (11% of face value ₹5).
- Standard TDS rate of 10% for resident shareholders with valid PAN-Aadhaar linkage.
- Exemption from TDS for resident individuals if total dividend in FY 2025-26 is below ₹10,000.
- Deadline for submitting tax exemption forms (15G/15H) and DTAA documents is February 20, 2026.
- Higher TDS rate of 20% applicable for residents without valid PAN or unlinked Aadhaar.
Standard Industries Limited (SIL) has declared an interim dividend of ₹0.55 per share for FY 2025-26, despite reporting a net loss for the quarter. The company's Q3 FY26 revenue from operations grew 29% year-on-year to ₹7.16 crore, primarily driven by its trading segment. While the company remains loss-making at the net level with a loss of ₹3.85 crore this quarter, this is an improvement over the ₹6.39 crore loss in the previous year's corresponding quarter. A significant highlight is the disposal of its investment in Duville Estates Pvt. Ltd., which impacted other comprehensive income.
- Declared an interim dividend of ₹0.55 per equity share of face value ₹5 (11%).
- Q3 FY26 revenue from operations rose to ₹716.38 lakhs from ₹555.39 lakhs YoY.
- Net loss for the quarter narrowed to ₹385.56 lakhs compared to a loss of ₹639.42 lakhs in Q3 FY25.
- Record date for dividend eligibility is fixed as Friday, February 20, 2026.
- Trading segment revenue increased to ₹716.38 lakhs, while the property division remains a drag on profitability.
Standard Industries Limited has declared an interim dividend of ₹0.55 per equity share for the financial year 2025-26, fixing February 20, 2026, as the record date. For the quarter ended December 31, 2025, the company reported a net loss of ₹385.56 lakhs, which is a narrowing of losses compared to the ₹639.42 lakhs loss in the same quarter last year. Revenue from operations showed growth, rising to ₹716.38 lakhs from ₹555.39 lakhs year-on-year. The company also completed the disposal of its entire investment in Duville Estates Pvt. Ltd. during the current financial year.
- Declared an interim dividend of ₹0.55 per equity share on 6,43,28,941 shares.
- Quarterly net loss narrowed to ₹385.56 lakhs from ₹639.42 lakhs in the previous year's corresponding quarter.
- Revenue from operations increased by 29% year-on-year to ₹716.38 lakhs.
- Record date for dividend entitlement is February 20, 2026, with payment starting March 11, 2026.
- Maintains a significant strategic investment of ₹5,969.82 lakhs in subsidiary Standard Salt Works Limited.
Standard Industries reported a narrowed net loss of ₹3.86 crore for the quarter ended December 31, 2025, compared to a loss of ₹6.39 crore in the same period last year. Revenue from operations grew 29% year-on-year to ₹7.16 crore, primarily driven by the trading segment. The Board declared an interim dividend of ₹0.55 per equity share (11% of face value) with a record date of February 20, 2026. Despite operational losses, the company recorded a positive total comprehensive income of ₹7.99 crore for the nine-month period, aided by gains from the sale of investments.
- Revenue from operations increased to ₹7.16 crore in Q3 FY26 from ₹5.55 crore in Q3 FY25.
- Net loss for the quarter narrowed to ₹3.86 crore versus a loss of ₹6.39 crore YoY.
- Declared an interim dividend of ₹0.55 per share on equity shares of face value ₹5 each.
- Trading segment remained profitable with a segment profit of ₹37.85 lakhs for the quarter.
- Nine-month total comprehensive income reached ₹7.99 crore, significantly boosted by ₹19.54 crore in other comprehensive income.
Standard Industries Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The certificate, issued by KFin Technologies Limited, confirms that all securities received for dematerialization were processed according to regulatory standards. It verifies that physical certificates were mutilated and cancelled after verification, with depository names updated in the records within 15 days. This is a standard administrative filing confirming the integrity of the company's shareholding records.
- Compliance certificate issued for the quarter ended December 31, 2025.
- Registrar KFin Technologies Limited confirmed dematerialization processes were followed.
- Security certificates were mutilated and cancelled within the mandated regulatory timeframe.
- Depository names were updated in the register of owners within 15 days of receipt of documents.
Standard Industries Limited (SIL) has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of the company's unaudited financial results for the third quarter ending December 31, 2025. The restriction applies to all directors, designated persons, and their immediate relatives. The trading window will remain closed until 48 hours after the financial results are officially declared to the stock exchanges.
- Trading window closure effective from January 1, 2026
- Closure is related to the Unaudited Financial Results for the quarter ended December 31, 2025
- Restriction applies to all Directors, Designated Persons, and their immediate relatives
- Window will reopen 48 hours after the Q3 results are announced
Financial Performance
Revenue Growth by Segment
For the 6 months ended September 30, 2025, the Trading segment revenue grew 60.6% YoY to INR 1,407.37 Lakhs from INR 876.20 Lakhs. The Manufacturing segment revenue grew 7.7% YoY to INR 280.40 Lakhs from INR 260.32 Lakhs. Total revenue from operations for FY 2024-25 was INR 2,234.98 Lakhs, a 17.3% increase from INR 1,905.48 Lakhs in FY 2023-24.
Geographic Revenue Split
Not disclosed in available documents; however, the company operates out of Mumbai, Maharashtra.
Profitability Margins
The company reported a Loss Before Tax of INR 666.28 Lakhs for Q2 FY26 compared to a loss of INR 137.69 Lakhs in the corresponding previous quarter, representing a significant widening of losses. Net Profit Margin is currently negative due to operational losses and high unallocable expenses of INR 3,628.48 Lakhs.
EBITDA Margin
Core profitability is under pressure; the Trading segment generated a profit of INR 65.06 Lakhs for 6M FY26 (4.6% margin), while the Manufacturing segment generated a marginal profit of INR 2.79 Lakhs (1% margin). The Property Division recorded a loss of INR 83.99 Lakhs.
Capital Expenditure
Not explicitly disclosed as a forward-looking figure, but the company holds significant investment in leasehold rights to salt pans through its subsidiary, Standard Salt Works Limited, valued at INR 5,969.82 Lakhs.
Credit Rating & Borrowing
The company reported interest on loans from NBFCs and other finance costs in its cash flow statement. Total liabilities increased 44.1% to INR 4,395.82 Lakhs as of September 30, 2025, from INR 3,050.20 Lakhs in March 2025.
Operational Drivers
Raw Materials
Specific raw material names for manufacturing are not listed, but the business involves salt pans (Standard Salt Works) and general trading activities.
Capacity Expansion
Current focus is on the long-term strategic nature of leasehold rights to salt pans. No specific capacity expansion in MT or units is provided in the text.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but manufacturing segment results show low profitability (INR 2.79 Lakhs profit on INR 280.40 Lakhs revenue), suggesting high input or operational costs.
Manufacturing Efficiency
Manufacturing segment revenue is relatively small (INR 280.40 Lakhs for 6M FY26) compared to Trading (INR 1,407.37 Lakhs), indicating lower scale or efficiency in the manufacturing arm.
Strategic Growth
Growth Strategy
The company is focusing on liquidating assets in its Property Division (valued at INR 6,478.63 Lakhs) based on market conditions to generate liquidity. It also maintains a long-term strategic investment in Standard Salt Works Limited to leverage growth prospects in the salt business.
Products & Services
Salt (via subsidiary Standard Salt Works Limited), Trading of various goods, and Property development/liquidation services.
Brand Portfolio
Standard Industries Limited, Standard Salt Works Limited.
Strategic Alliances
Wholly owned subsidiary: Standard Salt Works Limited (Investment of INR 5,969.82 Lakhs).
External Factors
Industry Trends
The company is shifting away from active manufacturing (low revenue contribution) toward trading and asset liquidation. The salt industry is viewed as a 'long term strategic' area.
Competitive Landscape
The company operates in Trading, Manufacturing, and Property, facing competition in each fragmented sector.
Competitive Moat
The primary moat is the ownership of leasehold rights to salt pans through its subsidiary, which are considered long-term strategic assets with growth prospects.
Macro Economic Sensitivity
The Property Division is highly sensitive to real estate market conditions, as the company intends to liquidate these assets based on 'market condition'.
Regulatory & Governance
Industry Regulations
Operations are subject to the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Salt pan operations are subject to specific leasehold regulations.
Taxation Policy Impact
The company has material 'Uncertain Tax Positions' including matters under dispute which involve significant judgment for outcome determination (Note 39).
Legal Contingencies
The company has pending litigations disclosed in Note 39. Auditors highlighted 'Evaluation of Uncertain Tax Positions' as a Key Audit Matter due to the significant judgment required to estimate potential liabilities.
Risk Analysis
Key Uncertainties
Diminution in the value of the INR 5,969.82 Lakhs investment in Standard Salt Works Limited and the outcome of disputed tax positions.
Geographic Concentration Risk
High concentration in India, specifically the Mumbai region for corporate and property operations.
Third Party Dependencies
Dependency on NBFCs for financing and market buyers for the liquidation of property assets.
Technology Obsolescence Risk
Not disclosed as a high risk given the nature of salt and property businesses.
Credit & Counterparty Risk
The company noted an increase in trade and other receivables in its cash flow statement, which may impact liquidity if not collected timely.