Shivkamal Impex Limited September profit falls 49% on costs

Shivkamal Impex reported profit after tax of Rs 3.92 lakh for the quarter ended September 30, 2026, down 49% from Rs 7.64 lakh a year earlier. Interest income, its only reported operating revenue, fell to Rs 10.76 lakh while total expenses rose to Rs 5.53 lakh. The company reported no exceptional items.

Why did Shivkamal Impex’s September-quarter profit fall?

Shivkamal Impex’s September-quarter profit fell because income decreased while costs increased. Profit after tax was Rs 3.92 lakh in the quarter ended September 30, 2026, compared with Rs 7.64 lakh in the corresponding quarter ended September 30, 2025, a decline of Rs 3.72 lakh or about 49%.

Profit before tax declined to Rs 5.23 lakh from Rs 10.21 lakh over the same comparison, a reduction of Rs 4.98 lakh. The company disclosed no exceptional items in either September quarter, meaning the movement from profit before tax to profit after tax reflected reported income, expenses and tax charges rather than a separately classified exceptional gain or cost.

The sequential result also declined. Net profit was Rs 3.92 lakh in the September 2026 quarter, compared with Rs 5.20 lakh in the June 2026 quarter, while profit before tax fell from Rs 6.95 lakh to Rs 5.23 lakh. Basic and diluted earnings per equity share, not annualised, were Rs 0.39 for September 2026, down from Rs 0.52 in June 2026 and Rs 0.76 a year earlier.

How did interest income change for Shivkamal Impex?

Shivkamal Impex’s interest income fell to Rs 10.76 lakh in the September 2026 quarter from Rs 13.24 lakh in September 2025. The Rs 2.48 lakh decrease represented about 19% year on year, and interest income was the company’s only reported revenue from operations for each of the three quarterly periods shown.

Interest income also decreased by Rs 1.61 lakh from Rs 12.37 lakh in the June 2026 quarter. With no other income reported for September 2026, total income was likewise Rs 10.76 lakh, compared with Rs 13.24 lakh a year earlier and Rs 12.37 lakh in the immediately preceding quarter.

For the half year ended September 30, 2026, Shivkamal Impex reported interest income of Rs 23.13 lakh, against Rs 26.49 lakh in the half year ended September 30, 2025. The half-year decline of Rs 3.36 lakh coincided with loans of Rs 2.79 crore on September 30, 2026, compared with Rs 3.53 crore on March 31, 2026; bank balances other than cash equivalents rose to Rs 4.53 crore from Rs 3.73 crore.

Which costs increased at Shivkamal Impex during the quarter?

Shivkamal Impex’s total expenses increased to Rs 5.53 lakh in the September 2026 quarter from Rs 3.03 lakh a year earlier. The Rs 2.50 lakh increase included other expenses, which rose to Rs 4.17 lakh from Rs 2.04 lakh, and employee benefits expense, which increased to Rs 1.26 lakh from Rs 0.90 lakh.

Other expenses were also higher than the Rs 4.10 lakh reported in the June 2026 quarter, while employee benefits expense increased from Rs 1.22 lakh. Depreciation, amortisation and impairment expense was Rs 0.10 lakh in both September and June 2026, compared with Rs 0.09 lakh in September 2025. The company reported no finance costs or impairment of financial instruments in the September 2026 quarter.

For the six months ended September 30, 2026, total expenses were Rs 10.95 lakh, compared with Rs 5.84 lakh a year earlier. Other expenses rose to Rs 8.27 lakh from Rs 3.89 lakh and employee benefits expense increased to Rs 2.48 lakh from Rs 1.80 lakh, while half-year depreciation, amortisation and impairment was Rs 0.20 lakh against Rs 0.15 lakh.

What were Shivkamal Impex’s half-year earnings and tax charges?

Shivkamal Impex’s net profit for the half year ended September 30, 2026 was Rs 9.12 lakh, down from Rs 15.45 lakh in the prior-year half year. Profit before tax declined to Rs 12.18 lakh from Rs 20.65 lakh as total income fell to Rs 23.13 lakh and total expenses rose to Rs 10.95 lakh.

Total tax expense was Rs 3.06 lakh for the six-month period, compared with Rs 5.20 lakh a year earlier. The 2026 amount comprised current tax of Rs 3.07 lakh, partly offset by deferred tax of Rs 0.01 lakh. In the September quarter alone, total tax expense was Rs 1.31 lakh, comprising current tax of Rs 1.32 lakh and a deferred-tax credit of Rs 0.01 lakh.

The company’s paid-up equity share capital remained Rs 1.01 crore at September 30, 2026 and March 31, 2026. Other equity increased to Rs 6.37 crore from Rs 6.28 crore, while total equity rose to Rs 7.38 crore from Rs 7.29 crore. Shivkamal Impex stated that it is primarily engaged in financial services and has no separate reportable operating segments under Indian Accounting Standard 108.

How did Shivkamal Impex’s cash flow and balance sheet move?

Shivkamal Impex generated net cash from operating activities of Rs 3.30 lakh in the half year ended September 30, 2026, compared with net cash used of Rs 41.69 lakh in the corresponding 2025 period. Operating profit before working-capital changes was Rs 12.38 lakh, down from Rs 20.80 lakh, but the net working-capital outflow narrowed to Rs 6.47 lakh from Rs 58.05 lakh.

The main working-capital movements included a Rs 74.71 lakh decrease in loans, compared with a Rs 24.50 lakh decrease a year earlier, and a Rs 79.66 lakh increase in bank balances other than cash equivalents. Income taxes paid were Rs 2.61 lakh, lower than Rs 4.44 lakh in the prior-year period, while the company reported no cash flow from financing activities in either half year.

Cash and cash equivalents increased to Rs 4.16 lakh at September 30, 2026 from Rs 0.86 lakh at the start of the financial year. Total assets were Rs 7.41 crore at September 30, 2026, compared with Rs 7.30 crore on March 31, 2026, while total liabilities were Rs 2.56 lakh versus Rs 1.54 lakh. The company disclosed no subsidiary, associate or joint venture entity.

Conclusion

Shivkamal Impex’s September 2026 result combined lower interest income of Rs 10.76 lakh with total expenses of Rs 5.53 lakh, producing profit after tax of Rs 3.92 lakh. The half-year comparison showed the same pattern, with profit after tax falling to Rs 9.12 lakh from Rs 15.45 lakh as income declined and expenses increased.

The only next step disclosed in the October 31, 2026 announcement is publication of the unaudited results in newspapers shortly. The filing does not set an operating target or future reporting date, while its financial-services business remains reported as a single operating segment.