Shree Steel Wire Ropes swings to profit but loses top brass
Q1 net profit of ₹22.72 lakh on doubled revenue of ₹243.10 lakh. But MD, WTD, and CFO resigned on the same day, leaving a nano-cap with a governance question mark.
— 1 earlier story on Shree Steel Wire Ropes Ltd. →What's new
- Revenue doubled to ₹243.10 lakh and net profit swung to ₹22.72 lakh from a loss of ₹19.21 lakh.
- Managing Director Ashish Sajnani, Whole Time Director Ramnarayan Tiwari, and CFO Niranjan Choudhary resigned.
- Anil L. Sajnani appointed as new MD effective July 14, 2026; AGM set for September 18.
Why this matters
A ₹6 crore market cap company just lost its MD, WTD, and CFO in one go. The financial improvement is real, but for a firm that saw revenue halve in FY26, the sudden management exodus overshadows the numbers. Governance trust is the bigger story here.
What we're watching
- Whether the new MD discloses the reasons behind the resignations.
- Any follow-up departures from the board or senior management.
- Shareholder response at the September 18 AGM.
The full read
Shree Steel Wire Ropes just reported its best quarter in recent memory. Revenue doubled to ₹243.10 lakh and net profit turned positive at ₹22.72 lakh versus a loss of ₹19.21 lakh a year ago. That is the good news. The bad news arrived in the same board meeting: Managing Director Ashish Sajnani, Whole Time Director Ramnarayan Tiwari, and CFO Niranjan Choudhary all resigned. No reason given. The board quickly appointed Anil L. Sajnani as the new MD. For a company with a ₹6 crore market cap that saw revenue halve in FY26, a clean sweep of the top management is a red flag. The financials say the business is turning around. The resignations say the people who ran it do not want to stay. That mismatch is the real story.
Questions answered
- What drove the swing to profit in Q1?
- Revenue more than doubled to ₹243.10 lakh from ₹109.42 lakh a year earlier, driven by a sharp jump in cost of materials consumed amid higher production. Net profit came in at ₹22.72 lakh against a loss of ₹19.21 lakh.
- Why did the three top executives resign?
- The filing does not provide a reason for the resignations of MD Ashish Sajnani, WTD Ramnarayan Tiwari, and CFO Niranjan Choudhary. No explanation was given.
- Who is the new managing director?
- The board appointed Anil L. Sajnani as managing director effective July 14, 2026. No additional background on Mr. Sajnani was provided in the filing.
- How significant is this for a company with a ₹6 crore market cap?
- Losing three key executives simultaneously is a material event for any company, but especially for a nano-cap where individual leadership is critical. The financial turnaround provides some relief, but the lack of clarity on departures raises governance concerns.
Shree Steel Wire Ropes Ltd.
Latest quarter · Jun 2026
Strength & growth
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All notes on SSWRL →- 13 Jul 2026 · 5:46 PM IST Shree Steel Wire Ropes swings to profit but loses top brass
- 48d ago Shree Steel Wire's revenue halved. The loss barely budged.