What’s new

• FY26 revenue up 50% to ₹437.82 crore, but net profit down 13% to ₹67.40 crore.
• Q4 net loss of ₹34.27 crore due to a ₹38.24 crore investment loss.
• Board recommends ₹5 per share final dividend; reappoints Chairman Falgunbhai Patel for five more years.

Why it matters

The sharp revenue jump shows strong underlying print-media demand, but the investment loss raises questions about portfolio risk. With zero debt and a PE of 11.5, earnings quality is the key variable; if investment losses are recurring, the valuation may be under pressure.

What we’re watching

• Whether the investment loss is a one-off or a recurring drag on earnings.
• Management commentary on the investment portfolio in the annual report.
• Revenue growth sustainability in the current fiscal year.

The full read

Sandesh Ltd posted standout revenue of ₹437.82 crore for FY26, up 50% from the previous year. But the headline top line masks a messy bottom line: net profit fell 13% to ₹67.40 crore as a ₹38.24 crore net loss on investments in the March quarter swung that quarter into a loss of ₹34.27 crore. The board still recommended a ₹5 per share dividend and reappointed Chairman & MD Falgunbhai Patel for another five-year term. The revenue trajectory is impressive, especially for a sector often written off, and the company carries zero debt. Yet the investment loss demands a closer look. One-off or not? If these losses become a pattern, they could eat into the operating gains and pressure the stock's 11.5x P/E.

Primary source: BSE · NSE