Chandni Machines swaps trading for shipbuilding after revenue collapses 87%
FY26 revenue fell to ₹2,597.46 lakhs from ₹20,098.62 lakhs as trading halted; board moves to add manufacturing, shipbuilding, and naval defense to MOA. Shareholder vote on July 23.
— 1 earlier story on Chandni Machines Ltd. →What's new
- FY26 revenue plunged 87% to ₹2,597.46 lakhs; net profit fell 49% to ₹73.12 lakhs.
- Board approved MOA amendment to add manufacturing, shipbuilding, marine engineering, and naval defense.
- Shareholder EGM on July 23 to vote on the object clause change.
Why this matters
Chandni Machines is making a survival pivot after its core trading business collapsed. The new lines require different capital and expertise, and success is far from assured. The ₹41 cr raised in January gives it a start, but the company is essentially starting over.
What we're watching
- Whether shareholders approve the MOA change at the July 23 EGM.
- Any progress on utilising the ₹41 cr preferential allotment proceeds.
- Initial contracts or order wins in the new segments.
The full read
Chandni Machines is no longer a trading company. After revenue fell 87% in FY26 to ₹2,597.46 lakhs from ₹20,098.62 lakhs, the board has moved to rewrite what the company can do. The new object clause covers manufacturing of aluminum, zinc, and metal products, plus shipbuilding, marine engineering, and naval defense. This is a strategic pivot, not an incremental shift. The company raised ₹41 crores through preferential allotments in January, giving it a capital base of ₹51 crore market cap. The EGM to approve the MOA change is July 23. The results confirm the old business model is broken; the question now is whether the new one can be built.
Questions answered
- Why did Chandni Machines' revenue drop so sharply?
- Trading halted in the second half of FY26, causing revenue to fall from ₹20,098.62 lakhs to ₹2,597.46 lakhs. Net profit also fell from ₹142.71 lakhs to ₹73.12 lakhs, a decline of 49%.
- What is the company pivoting to?
- The board approved adding manufacturing of aluminum, zinc, and metal products, as well as shipbuilding and repair, marine engineering, and naval defense services to the company's object clause.
- How much capital does the company have for this pivot?
- Chandni raised ₹41 crores through a preferential allotment of equity shares and warrants in January 2026. Its current market cap is about ₹51 crores.
- When will shareholders vote on the MOA change?
- An extraordinary general meeting has been scheduled for July 23, 2026, to seek shareholder approval for the alteration to the main object clause.
Chandni Machines Ltd.
Latest quarter · Mar 2026
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All notes on CHANDNIMACH →- 18 Jun 2026 · 8:42 PM IST Chandni Machines swaps trading for shipbuilding after revenue collapses 87%
- 18d ago Chandni Machines FY26 revenue shrinks as trading halts; board pivots to shipbuilding