How did SSMD Agrotech's profit perform relative to its revenue growth?

Revenue rose from ₹9,918 lakhs to ₹11,535 lakhs, but profit only moved from ₹538 lakhs to ₹553 lakhs. The profit growth is far more modest than the revenue increase.

What does the IPO proceeds table show?

It shows that ₹1,231 lakhs of the capital raised in the company's IPO remains unutilised. The filing is a compliance requirement but offers no explanation for the delay.

What was the outcome of the audit opinion?

The company's financial statements received an unmodified audit opinion, meaning the auditor found no qualifications or material misstatements. It is a standard clean opinion.

Is the approved vehicle loan a significant capital commitment?

No. The board approved a ₹10 lakh vehicle loan, which is immaterial relative to the company's annual profit of ₹553 lakhs.

Earnings · Consumer Food · Micro cap

SSMD Agrotech's profit barely budged despite 16% revenue growth

FY26 revenue rose to ₹11,535 lakhs, but profit after tax added just ₹15 lakhs. A quarter of the company's IPO capital remains unspent.

— 1 earlier story on SSMD Agrotech India Ltd. →

SSMD By Tipsheet Editorial 30 May 2026 · 7:54 PM IST Verify on BSE · NSE

Mkt cap₹58.03 cr

P/E10.50×

ROE13.85%

Debt / eq.0.04

₹1,231 lakhs IPO proceeds still unutilised at year-end.

What's new

FY26 revenue grew 16% to ₹11,535 lakhs from ₹9,918 lakhs year-on-year.
Profit after tax edged up to ₹553 lakhs from ₹538 lakhs.
The IPO proceeds utilisation table shows ₹1,231 lakhs of capital is still unspent.

Why this matters

The company grew its top line but failed to convert that into meaningful profit growth, suggesting costs rose in tandem. The unutilised IPO cash is a governance question: investors gave the company money for specific projects, and a significant portion remains idle.

What we're watching

The timeline for deploying the remaining ₹1,231 lakhs of IPO capital.
Whether management provides a reason for the deployment delay.
If profit margins can expand in the next fiscal year.

The full read

SSMD Agrotech's FY26 annual results are a compliance staple. Revenue climbed to ₹11,535 lakhs from ₹9,918 lakhs, but profit after tax only moved to ₹553 lakhs from ₹538 lakhs. The gap between top-line and bottom-line growth suggests higher costs absorbed most of the revenue gain. The filing's most notable detail is the IPO proceeds utilisation table: ₹1,231 lakhs of the capital raised from public investors is still unspent. The audit opinion is clean. For a nano-cap company, the idle cash is the central question.

Questions answered

How did SSMD Agrotech's profit perform relative to its revenue growth?: Revenue rose from ₹9,918 lakhs to ₹11,535 lakhs, but profit only moved from ₹538 lakhs to ₹553 lakhs. The profit growth is far more modest than the revenue increase.
What does the IPO proceeds table show?: It shows that ₹1,231 lakhs of the capital raised in the company's IPO remains unutilised. The filing is a compliance requirement but offers no explanation for the delay.
What was the outcome of the audit opinion?: The company's financial statements received an unmodified audit opinion, meaning the auditor found no qualifications or material misstatements. It is a standard clean opinion.
Is the approved vehicle loan a significant capital commitment?: No. The board approved a ₹10 lakh vehicle loan, which is immaterial relative to the company's annual profit of ₹553 lakhs.

Mentioned: SSMD Agrotech India Ltd. · FY 2025-26 · ₹1,231 lakhs unutilised IPO proceeds

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

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30 May 2026 · 7:54 PM IST SSMD Agrotech's profit barely budged despite 16% revenue growth
44d ago SSMD Agrotech posts 16% revenue growth, profit barely moves