What’s new

• Shantiguru turned a ₹11.23 cr profit in FY26, up from a ₹0.16 cr loss in FY25.
• Profitability relied on a ₹4.32 cr land sale and ₹10.12 cr in fair valuation gains.
• Revenue from operations was just ₹0.23 cr for the year.

Why it matters

The profit is entirely artificial. With operational revenue of only ₹0.23 crore, the company's bottom line is currently a function of asset divestment and accounting adjustments rather than a viable business model.

What we’re watching

• Whether the company can generate meaningful revenue from operations in FY27.
• Further details on the equity investments driving the valuation gains.
• Any plans for the cash generated from the land sale.

The full read

Shantiguru Industries posted a net profit of ₹11.23 crore for the year ended March 2026, a stark reversal from the ₹0.16 crore loss recorded in FY25. For a company with a market capitalization of just ₹10 crore, the swing is large. However, the profit is not operational. The company generated only ₹0.23 crore in revenue from operations during the year. Instead, the bottom line was propped up by ₹4.32 crore from a land sale and ₹10.12 crore in fair valuation gains on equity investments. Total income for the year hit ₹15.08 crore, but the reliance on one-off asset sales and accounting adjustments leaves the underlying business model unproven. The board also appointed new internal and secretarial auditors for the upcoming year. The numbers show a company surviving on asset liquidation rather than commercial activity.

Primary source: BSE · NSE