Shiva Mills goes debt-free as Q4 swings to ₹1.41 cr profit
The nano-cap textile maker cut borrowings to zero from ₹9.88 cr and returned to profit in the final quarter, though full-year revenue slipped 18%.
— 2 earlier stories on Shiva Mills Ltd. →What's new
- Q4 net profit of ₹1.41 cr reverses prior-year loss of ₹0.77 cr.
- Full-year net loss narrowed to ₹8.95 lakhs from ₹3.81 cr loss.
- Board proposed appointing M/s CSR & Co. as statutory auditor for a five-year term.
Why this matters
For a company with a ₹55 cr market cap, going from nearly ₹10 cr in debt to zero is the real story. The quarterly swing to profit is welcome, but it's the balance-sheet cleanup that fundamentally changes the risk profile for a nano-cap that was burning cash.
What we're watching
- Whether the Q4 profit momentum holds into the new fiscal year.
- How the new statutory auditor handles the transition.
- Full-year margin trajectory as revenue contraction continues.
The full read
Shiva Mills, a ₹55 cr nano-cap, went from ₹9.88 cr in debt to zero this year. That's the headline. The Q4 profit of ₹1.41 cr reverses a ₹0.77 cr loss and is the clearest sign the operational turnaround is taking hold. For the full year, the loss narrowed to just ₹8.95 lakhs from ₹3.81 cr, though revenue dropped 18% to ₹139.14 cr. The math suggests cost cuts or better margins did the heavy lifting. The board also proposed swapping its statutory auditor for M/s CSR & Co. on a five-year term, with no dividend. For a company this size, being debt-free changes the conversation entirely. It can now pursue growth without the overhang of interest payments.
Questions answered
- How did Shiva Mills eliminate its debt?
- The company reduced its total borrowings from ₹9.88 crores to zero over the 2025-26 fiscal year. The filing does not specify the exact source of funds used for the repayment.
- What drove the full-year loss narrowing despite lower revenue?
- Revenue declined 18% to ₹139.14 crores, but the net loss shrank to just ₹8.95 lakhs from ₹3.81 crores. This implies significant improvement in operating costs or other non-revenue items that outweighed the top-line drop.
- Is the company recommending a dividend?
- No, the board did not recommend a dividend for the year. This is typical for a company that just moved from a significant loss to near-breakeven.
- What is the significance of the auditor change?
- The board proposed appointing M/s CSR & Co. as statutory auditors for a five-year term upon the completion of the current auditor's tenure. The filing does not provide a reason for the transition.
Shiva Mills Ltd.
Latest quarter · Mar 2026
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All notes on SHIVAMILLS →- 27 May 2026 · 5:47 PM IST Shiva Mills goes debt-free as Q4 swings to ₹1.41 cr profit
- 45d ago Shiva Mills erases ₹9.88 cr debt and swings to Q4 profit
- 45d ago Shiva Mills swings to profit as debt hits zero