Shree Rama Newsprint LimitedQ1 FY27 Results & Financial Update
Shree Rama Newsprint Limited: Q1 FY27 standalone results and company financials – revenue ₹9.72 Cr, PAT ₹-10.50 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Shree Rama Newsprint Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the first quarter of fiscal 2027 ended June 30, 2026, Shree Rama Newsprint reported standalone revenue from operations of INR 9.72 crore, alongside other income of INR 1.67 crore, bringing total income to INR 11.39 crore.
The company incurred a continuing pre-tax loss before exceptional items of INR 9.38 crore, driven primarily by heavy finance costs amounting to INR 9.20 crore that largely offset operating revenues.
Total expenses for continuing operations stood at INR 20.77 crore, dominated by raw material consumption of INR 6.25 crore, finance charges, and other manufacturing and administrative overheads of INR 3.54 crore.
Discontinued operations—comprising the legacy paper division's remaining residual activities—contributed a further pre-tax loss of INR 1.12 crore during the quarter, taking total comprehensive loss for the period to INR 10.48 crore.
Statutory auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern, noting that current liabilities from continuing operations exceeded current assets by INR 126.26 crore as of June 30, 2026.
Management continues to rely on plans to dispose of non-core assets on a piecemeal basis and explore alternative funding arrangements to stabilize the working capital position and service maturing obligations.
No provision for income tax was recorded for the quarter due to operating losses, unabsorbed depreciation, and brought-forward business losses, while deferred tax assets were left unrecognised given the absence of near-term taxable profit visibility.
01 · Business model
What does Shree Rama Newsprint do?
Shree Rama Newsprint Limited operates as a manufacturer and supplier within the industrial packaging and allied sectors, with its registered office and manufacturing infrastructure located at Barbodhan, Taluka Olpad, in the Surat district of Gujarat.
Following strategic restructurings in prior financial years, the company's historical core paper division was classified as a discontinued operation, leaving its water bottle division as the sole active operating segment for continuing operations.
The ongoing business model centres around commercial operations from the surviving operating division while management addresses legacy liabilities, debt-servicing obligations, and the orderly liquidation of non-core or discontinued manufacturing assets.
The company's corporate governance framework is overseen by its Board of Directors and statutory auditors, with active supervisory reviews focusing on ongoing debt pressures and working capital deficits.
02 · Historical context
What shaped the business before this quarter
During financial year 2022-23, the company's paper division was classified as a discontinued operation, with shareholder approval obtained on September 26, 2023, to dispose of all associated plant, machinery, and liabilities.
In earlier periods leading up to March 31, 2026, management reassessed the fair valuation of discontinued assets based on independent valuer reports, recognizing cumulative impairment charges to reflect realizable market values.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹9.72 Cr |
| Total income | ₹11.39 Cr |
| Profit before tax | ₹-9.38 Cr |
| Profit after tax | ₹-10.50 Cr |
| EPS | ₹-0.72 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -108.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to -96.5% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹1.67 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations for the quarter stood at INR 9.72 crore, derived entirely from the active water bottle division following the structural cessation of the paper manufacturing business.
The company recorded INR 1.67 crore in other income during the quarter, supplementing core operating receipts to yield a total income of INR 11.39 crore.
What drove margins
Finance costs of INR 9.20 crore consumed the vast majority of total income, severely depressing operating profitability and resulting in a continuing pre-tax loss of INR 9.38 crore.
Cost of raw materials and packing materials consumed stood at INR 6.25 crore, alongside changes in inventories of finished goods and work-in-progress amounting to a positive inventory adjustment of INR 0.38 crore.
Depreciation and amortisation expenses were recorded at INR 1.11 crore, while other operational and administrative expenses stood at INR 3.54 crore for the quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
As the paper division has been discontinued and classified under Ind AS 105, it no longer constitutes an operating segment; the water bottle division operates as the sole single operating segment under Ind AS 108.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The company remains committed to disposing of the remaining assets of the discontinued paper division on a piecemeal basis upon successful negotiations with vendors to realize liquidity.
07 · Reported developments
What changed operationally
Statutory auditors M/s. Batliboi & Purohit issued an unmodified review report on the standalone financial results for the quarter ended June 30, 2026.
08 · Pressure points & risks
What is not going smoothly
Auditors drew attention to material uncertainties casting significant doubt on the company's ability to continue as a going concern due to recurring comprehensive losses and current liability exceedances.
09 · Items worth noticing
The line items that can distort a quick read
Discontinued operations generated a net loss of INR 1.12 crore for the quarter, reflecting ongoing carrying costs and residual adjustments of the legacy paper division.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
As of June 30, 2026, current liabilities pertaining to continuing operations exceeded current assets by INR 126.25 crore, creating significant liquidity strain.
Capital allocation & funding
High finance charges of INR 9.20 crore during the quarter reflect substantial ongoing debt servicing requirements impacting the continuing operations.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Internal Auditor Appointment
The board approved the appointment of M/s. A. H. Jain & Co., Chartered Accountants, as the internal auditor of the company for the financial year 2026-27.
Reported update
Annual General Meeting Scheduling
The company scheduled its 35th Annual General Meeting for Friday, September 25, 2026, fixing September 18, 2026, as the cut-off date for remote e-voting eligibility.
12 · Previous-quarter changes
What changed since the previous quarter
Total income rose from INR 9.96 crore in Q4 FY26 to INR 11.39 crore in Q1 FY27, while continuing pre-tax losses narrowed slightly from INR 9.93 crore to INR 9.38 crore.
13 · Key Q&A
The quarter, answered directly
What does Shree Rama Newsprint do?
Shree Rama Newsprint Limited operates as a manufacturer and supplier within the industrial packaging and allied sectors, with its registered office and manufacturing infrastructure located at Barbodhan, Taluka Olpad, in the Surat district of Gujarat.
What is the clearest takeaway from Q1 FY27?
For the first quarter of fiscal 2027 ended June 30, 2026, Shree Rama Newsprint reported standalone revenue from operations of INR 9.72 crore, alongside other income of INR 1.67 crore, bringing total income to INR 11.39 crore.
What drove revenue or demand?
Revenue from operations for the quarter stood at INR 9.72 crore, derived entirely from the active water bottle division following the structural cessation of the paper manufacturing business.
What mattered most for margins or profitability?
Finance costs of INR 9.20 crore consumed the vast majority of total income, severely depressing operating profitability and resulting in a continuing pre-tax loss of INR 9.38 crore.
What changed operationally beyond the headline numbers?
The company remains committed to disposing of the remaining assets of the discontinued paper division on a piecemeal basis upon successful negotiations with vendors to realize liquidity.
What are the main pressure points disclosed for the quarter?
Auditors drew attention to material uncertainties casting significant doubt on the company's ability to continue as a going concern due to recurring comprehensive losses and current liability exceedances.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Asset Monetisation Progress: Monitor execution milestones and realization values from the piecemeal disposal of discontinued paper division assets.
- 02
Working Capital Restructuring: Track management's ongoing initiatives to address the net current liability deficit of INR 126.25 crore and manage debt obligations.
- 03
Upcoming Annual General Meeting: Observe proceedings and shareholder resolutions at the 35th Annual General Meeting scheduled for September 25, 2026.
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