SRD - Shankar Lal Ram.
📢 Recent Corporate Announcements
Shankar Lal Rampal Dye-Chem Limited (SRD) has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar & Share Transfer Agent Cameo Corporate Services Limited, confirms that all dematerialization requests for the quarter ended March 31, 2026, were processed within the stipulated time limits. It further verifies that physical certificates were mutilated and cancelled after due verification, and the depositories' names were updated in the register of members. This is a standard administrative filing ensuring the integrity of the company's shareholding records.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Issued by Registrar & Share Transfer Agent, Cameo Corporate Services Limited.
- Confirms that securities received for dematerialization were processed and listed on stock exchanges.
- Verification that physical security certificates were mutilated and cancelled as per SEBI norms.
Shankar Lal Rampal Dye-Chem Limited (SRD) has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Sumit Jain as an Independent Director. The proposed appointment is for a five-year tenure starting from April 9, 2026, through April 8, 2031. Shareholders can cast their votes electronically between April 17, 2026, and May 16, 2026. This move is a standard corporate governance procedure to formalize board composition.
- Proposed appointment of Mr. Sumit Jain as Independent Director for a 5-year term.
- E-voting period scheduled from April 17, 2026, to May 16, 2026.
- Cut-off date for determining shareholder voting eligibility was April 10, 2026.
- The appointment requires approval through a Special Resolution by the members.
Shankar Lal Rampal Dye-Chem Limited has announced the schedule for its upcoming Postal Ballot process. The company has fixed April 10, 2026, as the cut-off date to determine shareholder eligibility for voting on proposed resolutions. The e-voting window will be open for 30 days, starting from April 17, 2026, and ending on May 16, 2026. Final results of the voting process are expected to be declared on or before May 18, 2026.
- Cut-off date for shareholder eligibility is fixed as April 10, 2026
- E-voting period starts on April 17, 2026, at 09:00 AM
- E-voting period concludes on May 16, 2026, at 05:00 PM
- Results of the Postal Ballot will be announced by May 18, 2026
- Voting to be conducted electronically through the NSDL platform
Shankar Lal Rampal Dye-Chem Limited (SRD) has appointed Mr. Sumit Jain as an Additional Independent Director for a five-year term effective April 9, 2026, to April 8, 2031. This appointment follows the resignation of Mr. Murli Atal in March 2026. Consequently, the board has reconstituted its Audit, Nomination and Remuneration, and Stakeholders’ Relationship Committees. Furthermore, the board granted omnibus approval for all planned Related Party Transactions for the financial year 2026-27 and updated key statutory policies.
- Appointment of Mr. Sumit Jain as Independent Director for a 5-year term ending April 2031.
- Reconstitution of three major board committees: Audit, Nomination & Remuneration, and Stakeholders’ Relationship.
- Omnibus approval granted for all planned Related Party Transactions for FY 2026-27.
- Formal noting of the resignation of Independent Director Mr. Murli Atal effective March 26, 2026.
- Approval of a Postal Ballot to seek shareholder confirmation for the new director appointment.
Shankar Lal Rampal Dye-Chem Limited (SRD) has appointed Mr. Sumit Jain as an Additional Independent Director for a five-year term starting April 9, 2026, following the resignation of Mr. Murli Atal. The board has consequently reconstituted the Audit, Nomination & Remuneration, and Stakeholders’ Relationship committees to reflect the new board structure. Additionally, the company granted omnibus approval for all planned Related Party Transactions for FY 2026-27 and updated several statutory policies including the Whistle Blower Policy. These moves are aimed at strengthening corporate governance and ensuring regulatory alignment.
- Appointment of Mr. Sumit Jain as Independent Director for a 5-year term effective April 9, 2026, to April 8, 2031.
- Resignation of Independent Director Mr. Murli Atal effective March 26, 2026, was formally taken on record.
- Reconstitution of three major board committees: Audit, Nomination & Remuneration, and Stakeholders’ Relationship.
- Omnibus approval granted for all planned Related Party Transactions for the financial year 2026-27.
- Review and update of key statutory policies including Vigil Mechanism and Code of Conduct for Board and Senior Management.
Shankar Lal Rampal Dye-Chem Limited (SRD) has announced the appointment of Mr. Sumit Jain as an Additional Independent Director for a five-year term effective April 9, 2026. This follows the resignation of Mr. Murli Atal and has triggered a reconstitution of the Audit, Nomination and Remuneration, and Stakeholders’ Relationship Committees. Additionally, the board has granted omnibus approval for Related Party Transactions for FY 2026-27 and updated several key statutory policies. A postal ballot process is being initiated to seek shareholder approval for the new director appointment.
- Appointment of Mr. Sumit Jain as Independent Director for a 5-year term ending April 8, 2031.
- Reconstitution of three major board committees including Audit and Nomination & Remuneration.
- Omnibus approval granted for all planned Related Party Transactions for the FY 2026-27 period.
- Resignation of Mr. Murli Atal as Independent Director effective March 26, 2026, was formally noted.
Shankar Lal Rampal Dye-Chem Limited has announced the resignation of Mr. Murli Atal from his role as an Independent Director, effective March 26, 2026. The director cited professional work and personal commitments as the primary reasons for his departure, confirming there are no other material reasons. The company stated that the Board and its Committees continue to meet all legal compliance requirements following this change. A new director will be appointed in due course to fill the vacancy, subject to shareholder approval.
- Resignation of Independent Director Murli Atal effective from close of business hours on March 26, 2026
- Departure cited as being due to professional work and personal commitments
- Company confirms Board and Committee composition remains compliant with SEBI LODR regulations
- The outgoing director holds no other directorships or committee memberships in other listed entities
Shankar Lal Rampal Dye-Chem Limited (SRD) has notified the exchanges regarding the closure of its trading window starting April 1, 2026. This is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of financial results. The closure pertains to the audited financial results for the quarter and full year ending March 31, 2026. The window will remain closed for all designated persons until 48 hours after the board meeting results are declared.
- Trading window closure commences on April 1, 2026, for all designated persons and their relatives.
- The closure is in anticipation of the Audited Financial Results for the quarter and year ending March 31, 2026.
- The window will reopen 48 hours after the conclusion of the Board Meeting where results are approved.
- The specific date for the upcoming Board Meeting will be announced by the company in due course.
Shankar Lal Rampal Dye-Chem Limited (SRD) has successfully renewed its credit facilities with ICICI Bank to ensure continued liquidity for operations. The total facility is valued at INR 315 million, which includes a primary working capital limit of INR 290 million. Additionally, the board approved a derivative facility of INR 25 million as part of the overall package. This renewal is a standard procedure to maintain the company's financial flexibility and support its business cycle.
- Total credit facility renewed with ICICI Bank for an overall limit of INR 315 million.
- Working capital facility specifically renewed at INR 290 million to support daily operations.
- Includes a derivative facility component of INR 25 million for risk management.
- The board meeting was conducted efficiently, concluding within 15 minutes on February 23, 2026.
Shankar Lal Rampal Dye-Chem reported a weak Q3 FY26 with revenue from operations falling 11.1% YoY to ₹90.54 crore. Net profit for the quarter saw a sharper decline of 27.2% YoY, dropping to ₹2.08 crore from ₹2.86 crore in the same period last year. On a sequential basis, revenue and profit also declined by 19.7% and 12.0% respectively. While nine-month revenue grew by 10.3% to ₹325.50 crore, the corresponding net profit dipped slightly to ₹8.69 crore, indicating margin pressure.
- Quarterly Revenue from Operations decreased to ₹9,053.89 Lakhs from ₹10,189.20 Lakhs YoY.
- Net Profit for Q3 FY26 stood at ₹208.42 Lakhs, down from ₹286.31 Lakhs in Q3 FY25.
- Earnings Per Share (EPS) dropped to ₹0.33 for the quarter compared to ₹0.45 a year ago.
- Nine-month revenue (Apr-Dec 2025) increased to ₹32,550.39 Lakhs from ₹29,503.67 Lakhs in the previous year.
- Total expenses for the 9-month period rose to ₹31,388.04 Lakhs from ₹28,313.74 Lakhs, impacting bottom-line growth.
Shankar Lal Rampal Dye-Chem Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ended December 31, 2025. The certificate, issued by Cameo Corporate Services Limited, confirms that all securities received for dematerialization were processed and confirmed to the depositories. It further validates that physical certificates were mutilated and cancelled after due verification. This filing is a standard administrative procedure to ensure the accuracy of the company's shareholding records.
- Compliance certificate submitted for the quarter ending December 31, 2025.
- Confirmation provided by Registrar & Share Transfer Agent, Cameo Corporate Services Limited.
- Securities received for dematerialization were confirmed to depositories within stipulated time limits.
- Physical security certificates were mutilated and cancelled after verification as per SEBI norms.
Shankar Lal Rampal Dye-Chem Limited (SRD) has approved the acquisition of immovable property for a total consideration of up to ₹1.75 crore. This new approval supersedes a previous board resolution from November 13, 2025, which had authorized a purchase price below ₹1 crore. The upward revision in the budget is due to updated commercial terms for the transaction. The company has authorized its Executive Directors to finalize the legal documentation and execute the necessary deeds to complete the acquisition.
- Board approved acquisition of immovable property for a total consideration of up to ₹1.75 crore.
- The decision supersedes a previous approval from November 2025 that capped the amount at ₹1 crore.
- The budget increase reflects revised commercial terms for the specific property acquisition.
- Executive Directors have been authorized to finalize and execute all necessary legal agreements.
Shankar Lal Rampal Dye-Chem Limited 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 un-audited financial results for the quarter ending December 31, 2025. The window will remain closed for all directors, KMPs, and designated persons until 48 hours after the board meeting results are made public. The specific date for the board meeting to discuss the Q3 results will be communicated at a later date.
- Trading window closure commences on January 1, 2026.
- Closure is related to the un-audited financial results for the quarter ended December 31, 2025.
- The window will reopen 48 hours after the conclusion of the upcoming board meeting.
- Restriction applies to all promoters, directors, KMPs, and designated employees.
Financial Performance
Revenue Growth by Segment
The company operates in a single primary segment: Trading in Dyes & Chemicals. Revenue from operations for Q2 FY26 reached INR 112.70 Cr, representing a growth of 26.7% YoY compared to INR 88.95 Cr in Q2 FY25. For the half-year ended September 2025, revenue grew 27.8% YoY to INR 228.13 Cr.
Geographic Revenue Split
Not specifically disclosed, though operations are concentrated in Bhilwara, Rajasthan, serving the regional textile and chemical hubs.
Profitability Margins
Net Profit Margin (NPM) for Q2 FY26 stood at 5.34%, a contraction from 7.30% in Q2 FY25. This decline is primarily due to a 22.6% increase in purchase costs and higher finance charges. Profit After Tax (PAT) for Q2 FY26 was INR 6.01 Cr, down 7.4% YoY from INR 6.50 Cr.
EBITDA Margin
EBITDA margin for Q2 FY26 was 7.33% (INR 8.26 Cr), down from 10.19% (INR 9.07 Cr) in Q2 FY25. The margin compression reflects tighter spreads in the chemical trading market and increased operational overheads.
Capital Expenditure
Property, Plant, and Equipment stood at INR 1.28 Cr as of September 30, 2025, compared to INR 1.05 Cr in March 2025, indicating a modest maintenance CAPEX of INR 0.23 Cr.
Credit Rating & Borrowing
Total borrowings as of September 30, 2025, were INR 18.60 Cr, comprising INR 17.61 Cr in short-term and INR 0.99 Cr in long-term debt. Finance costs increased 111% YoY to INR 19.42 Lakhs for the quarter, reflecting higher utilization of working capital limits.
Operational Drivers
Raw Materials
The primary cost driver is 'Purchase of Stock in Trade' (Dyes and Chemicals), which accounts for 96.7% of total revenue (INR 109.05 Cr in Q2 FY26).
Capacity Expansion
As a trading entity, the company does not have traditional manufacturing capacity; however, it manages a high volume of inventory valued at INR 16.60 Cr to support its distribution network.
Raw Material Costs
Purchase costs for stock-in-trade were INR 109.05 Cr in Q2 FY26, up 22.6% YoY. Procurement strategies focus on bulk purchasing to maintain trading margins in a volatile chemical pricing environment.
Manufacturing Efficiency
Not applicable as the company is a trading entity; efficiency is measured by inventory turnover.
Logistics & Distribution
Distribution costs are integrated into 'Other Expenses' (INR 84.39 Lakhs), supporting the delivery of chemicals to regional industrial customers.
Strategic Growth
Expected Growth Rate
27.80%
Growth Strategy
The company aims to achieve growth by expanding its trading portfolio within the dyes and chemicals sector and deepening its penetration in the Rajasthan textile market. The 27.8% H1 revenue growth suggests aggressive market share acquisition despite margin pressure.
Products & Services
Industrial Dyes and Chemicals used primarily in the textile processing and manufacturing industries.
Brand Portfolio
Shankarlal Rampal Dye-Chem Limited.
Market Expansion
The company is focusing on strengthening its presence in the Bhilwara industrial cluster, which is a major hub for textile manufacturing in India.
Strategic Alliances
No new JVs or alliances reported; the company operates as a standalone entity with no subsidiaries.
External Factors
Industry Trends
The chemical trading industry is shifting toward organized players who can provide consistent supply and credit; SRD is positioning itself by maintaining a large balance sheet with INR 136.56 Cr in current assets.
Competitive Landscape
Competes with both unorganized local traders and larger national chemical distributors in the Rajasthan region.
Competitive Moat
The company's moat is built on its localized distribution network and long-standing relationships in the Bhilwara textile hub. This is sustainable due to the high cost for outside competitors to establish similar local logistics and credit trust.
Macro Economic Sensitivity
Highly sensitive to the textile industry's health and industrial chemical demand; a slowdown in textile exports would directly reduce demand for the company's dyes.
Consumer Behavior
Industrial demand is shifting toward eco-friendly dyes, which may require the company to adjust its product portfolio in the future.
Geopolitical Risks
Global chemical price volatility driven by geopolitical tensions can impact procurement costs and trading margins.
Regulatory & Governance
Industry Regulations
Operations are subject to chemical handling regulations and GST compliance for inter-state and intra-state trading.
Environmental Compliance
As a trader, the company has lower direct environmental compliance costs compared to manufacturers, though it must adhere to chemical storage and handling safety norms.
Taxation Policy Impact
The effective tax rate for Q2 FY26 was approximately 25.1%, with a current tax provision of INR 2.02 Cr on PBT of INR 8.03 Cr.
Legal Contingencies
No pending material litigation or court cases were disclosed in the financial notes.
Risk Analysis
Key Uncertainties
The most significant risk is the high level of trade receivables (INR 93.26 Cr), which represents 83% of quarterly revenue. Any significant default by top clients would severely impact the company's equity base of INR 58.65 Cr.
Geographic Concentration Risk
High concentration in Rajasthan (Bhilwara), making the company vulnerable to regional economic downturns or state-specific policy changes.
Third Party Dependencies
Dependent on chemical manufacturers for consistent supply; any supply-side disruption would halt trading operations.
Technology Obsolescence Risk
Low risk of technology obsolescence as a trader, though digital transformation in procurement and inventory management is necessary for scaling.
Credit & Counterparty Risk
High credit exposure to textile units; the company's current ratio of 6.96x is heavily skewed by receivables, indicating potential liquidity constraints if collections slow down.