Shiva Mills clears all debt as Q4 profit marks a turnaround
The textile manufacturer swung to a ₹1.41 crore profit in Q4, eliminating its ₹9.88 crore debt pile despite a full-year revenue decline.
— 2 earlier stories on Shiva Mills Ltd. →What's new
- Shiva Mills posted a Q4 net profit of ₹1.41 crore, reversing a ₹0.77 crore loss from the prior year.
- Full-year net loss narrowed to ₹8.95 lakhs from ₹3.81 crore, even as revenue dropped to ₹139.14 crore.
- Total debt is now zero, down from ₹9.88 crore a year ago.
Why this matters
Eliminating debt is a rare feat for a nano-cap textile firm, especially during a year where top-line revenue contracted by 18%. While the company remains near break-even on an annual basis, the balance sheet cleanup provides a cleaner slate for future operations.
What we're watching
- Whether the company can return to top-line growth in FY27.
- The transition to M/s CSR & Co. as statutory auditors.
- Potential for dividend resumption now that debt is cleared.
The full read
Shiva Mills ended FY26 with a clean balance sheet. The nano-cap textile manufacturer, which carries a market capitalization of ₹55 crore, reduced its total borrowings to zero from ₹9.88 crore a year ago. This deleveraging occurred alongside a return to profitability in the final quarter, where the company recorded a net profit of ₹1.41 crore compared to a ₹0.77 crore loss in the same period last year. While full-year revenue fell 18% to ₹139.14 crore, the company successfully narrowed its annual net loss to ₹8.95 lakhs from ₹3.81 crore. The board has opted against a dividend, focusing instead on the transition to a new statutory auditor, M/s CSR & Co., for a five-year term. For a company of this scale, the move to a net-debt-free status is the primary development, providing a foundation that the previous year's financials lacked.
Questions answered
- How did the company's financial performance change over the year?
- Shiva Mills narrowed its annual net loss to ₹8.95 lakhs from ₹3.81 crore the previous year. This occurred despite an 18% decline in annual revenue to ₹139.14 crore.
- What is the status of the company's debt?
- The company is now debt-free. It reduced its total borrowings to zero from the ₹9.88 crore reported a year earlier.
- Did the company declare a dividend?
- No. The board did not recommend a dividend for the financial year.
- Are there any changes to the company's audit team?
- Yes. The board proposed appointing M/s CSR & Co. as statutory auditors for a five-year term once the current auditor's tenure ends.
Story so far
All notes on SHIVAMILLS →- 27 May 2026 · 5:47 PM IST Shiva Mills clears all debt as Q4 profit marks a turnaround
- today Shiva Mills turns profitable in Q4 and clears all debt
- today Shiva Mills swings to profit as debt hits zero