SHREERAMA - Sh. Rama Multi.
📢 Recent Corporate Announcements
Shree Rama Multi-Tech Limited has issued a postal ballot notice to seek shareholder approval for the appointment of Shri Shalin S. Patel as a Non-Executive Non-Independent Director. The appointment is proposed to be effective from February 8, 2026, and requires an ordinary resolution from the members. The e-voting period for shareholders is scheduled to run from February 19, 2026, to March 21, 2026. Shareholders appearing in the register as of the cut-off date of February 13, 2026, are eligible to participate in the voting process.
- Appointment of Shri Shalin S. Patel (DIN: 01779902) as Non-Executive Non-Independent Director effective Feb 8, 2026.
- Remote e-voting period starts on Feb 19, 2026, and concludes on March 21, 2026, at 5:00 PM IST.
- Eligibility for voting is determined by the cut-off date of Friday, February 13, 2026.
- Voting results will be announced on or before March 24, 2026, and displayed on the company website.
- The appointment is subject to an ordinary resolution and the director will be liable to retire by rotation.
Shree Rama Multi-Tech Limited has responded to NSE's clarification request regarding the absence of consolidated financial results for the quarter ended September 30, 2025. The company stated that its wholly owned subsidiary, Shree Rama (Mauritius) Limited, has been defunct since 2005 and has not prepared accounts since 2003. Full provisions for the investment of Rs. 13.06 lakhs in equity and Rs. 18.60 lakhs in share application money were already made in previous years. The company is currently seeking RBI permission under FEMA laws to officially write off these defunct investments.
- Wholly owned subsidiary Shree Rama (Mauritius) Limited has not prepared accounts since September 30, 2003.
- Full provision of Rs. 13.06 lakhs in equity and Rs. 18.60 lakhs in share application money already accounted for in earlier years.
- The subsidiary is officially declared defunct under Mauritius law with no available officials or directors since 2005-06.
- Company is awaiting RBI approval to write off the investment as per FEMA regulations.
- Clarification is consistent with previous disclosures and auditor notes from December 2022.
Shri Shalin S. Patel has completed his second five-year term as an Independent Director of Shree Rama Multi-Tech Limited on February 8, 2026. To retain his expertise in chemical engineering and project planning, the board has appointed him as a Non-Executive Non-Independent (Additional) Director effective the same date. This transition has led to the reconstitution of the Audit, Nomination & Remuneration, and Stakeholders’ Relationship Committees. Shri Mittal K. Patel and Shri Anuj Desai have assumed chairmanship roles in these committees to ensure regulatory compliance.
- Shri Shalin S. Patel completed a total 10-year tenure as Independent Director on February 8, 2026
- Transitioned to Non-Executive Non-Independent Director role effective February 8, 2026, subject to shareholder approval
- Shri Mittal K. Patel appointed as the new Chairman of the Audit Committee and Stakeholders’ Relationship Committee
- Shri Anuj Desai appointed as the new Chairman of the Nomination and Remuneration Committee
- The board composition remains at 6 directors, including 2 Independent and 2 Executive directors
Shree Rama Multi-Tech reported a steady performance for Q3 FY26, with revenue from operations growing to ₹59.85 crore compared to ₹52.90 crore in the same quarter last year. Net profit for the quarter stood at ₹5.53 crore, a slight increase from ₹5.26 crore YoY, despite a ₹70.04 lakh provision for new labour codes. For the nine-month period, the company showed robust growth with a net profit of ₹20.05 crore against ₹14.75 crore last year. Additionally, the board approved the transition of Shalin S. Patel from an Independent Director to a Non-Executive Non-Independent Director.
- Revenue from operations increased by 13.1% YoY to ₹5,985.22 lakhs in Q3 FY26.
- Net profit for the nine months ended December 2025 surged 35.9% to ₹2,004.69 lakhs.
- Company recognized a one-time provision of ₹70.04 lakhs due to the implementation of new Labour Codes.
- Shalin S. Patel appointed as Non-Executive Non-Independent Director effective February 8, 2026.
- Basic EPS for the nine-month period improved to ₹1.44 from ₹1.11 in the previous year.
Shree Rama Multi-Tech reported a steady performance for Q3 FY26, with revenue from operations growing 13.1% YoY to ₹59.85 crore. Profit before tax saw a significant jump of 48% YoY to ₹7.79 crore, though net profit growth was moderated to 5% at ₹5.53 crore due to higher tax provisions compared to the previous year. For the nine-month period, the company showed strong momentum with a 36% increase in net profit reaching ₹20.05 crore. Additionally, the board approved the transition of Shalin S. Patel to a Non-Executive Director role and reconstituted various board committees.
- Revenue from operations increased by 13.1% YoY to ₹59.85 crore in Q3 FY26.
- Profit Before Tax (PBT) surged 48% YoY to ₹7.79 crore, reflecting improved operational efficiency.
- Nine-month (9M FY26) Net Profit grew by 36% YoY to ₹20.05 crore from ₹14.75 crore in the previous year.
- The company recognized a provision of ₹70.04 lakhs during the quarter for the implementation of new Labour Codes.
- Basic and Diluted EPS for the nine-month period improved to ₹1.44 from ₹1.11 YoY.
Shree Rama Multi-Tech reported a steady performance for Q3 FY26, with revenue from operations growing 13.1% YoY to ₹59.85 crore. Net profit for the quarter increased to ₹5.53 crore from ₹5.26 crore in the previous year's corresponding quarter. For the nine-month period, the company showed significant growth, with net profit rising 35.9% to ₹20.05 crore. The board also approved the appointment of Shalin S. Patel as a Non-Executive Director and noted a ₹70.04 lakh provision for new labour codes.
- Revenue from operations for Q3 FY26 stood at ₹5,985.22 lakhs, up from ₹5,289.52 lakhs YoY.
- Net profit for the nine months ended Dec 2025 jumped 35.9% to ₹20.05 crore compared to ₹14.75 crore in the previous year.
- The company recognized a provision of ₹70.04 lakhs in Q3 due to the implementation of new Labour Codes effective November 2025.
- Basic and Diluted EPS for the nine-month period improved to ₹1.44 from ₹1.11 YoY.
- Shalin S. Patel appointed as Non-Executive Non-Independent Director effective February 8, 2026.
Shree Rama Multi-Tech Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms that securities received for dematerialization during the quarter ended December 31, 2025, have been processed. This filing ensures that the company's shareholding records are accurately maintained with the depositories (NSDL and CDSL). Such disclosures are mandatory for all listed entities to maintain regulatory standing.
- Compliance certificate issued for the quarter ended December 31, 2025.
- Confirmation provided by Registrar and Share Transfer Agent (RTA), KFin Technologies Limited.
- Adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
- Verification that dematerialized security details were furnished to BSE and NSE where shares are listed.
Shree Rama Multi-Tech Limited has announced the closure of its trading window for all insiders and designated persons effective from January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's quarterly financial reporting. The window will remain closed until 48 hours after the declaration of the unaudited financial results for the quarter ending December 31, 2025. This is a standard procedural requirement for listed companies to prevent insider trading prior to the release of price-sensitive financial information.
- Trading window closure begins on January 1, 2026
- Closure is related to the unaudited financial results for the quarter ended December 31, 2025
- Window to reopen 48 hours after the official announcement of financial results
- Applies to Insiders, Designated Persons, and their immediate relatives as per SEBI norms
Shree Rama Multi-Tech Limited has responded to a clarification request from the National Stock Exchange (NSE) regarding recent significant fluctuations in its share price. In its reply dated December 18, 2025, the company stated that it has consistently disclosed all material information as per SEBI regulations. Management clarified that the recent price movement is purely market-driven and not due to any undisclosed internal developments. The company maintains that it is unaware of any specific reason for the volatility and remains committed to timely disclosures.
- Responded to NSE surveillance letter NSE/CM/Surveillance/16185 dated December 17, 2025
- Confirmed full compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
- Attributed recent stock price volatility to purely market-driven factors
- Stated no undisclosed price-sensitive information exists that could impact performance
- Reaffirmed commitment to prioritize stock exchange disclosures for all future material events
Financial Performance
Revenue Growth by Segment
The company operates in a single segment, 'Manufacturing of Packaging Materials,' which generated INR 207.84 Crore in revenue for FY 2024-25, representing a growth of 16.96% compared to INR 177.70 Crore in the previous year.
Profitability Margins
Operating Profit Margin improved significantly from 6.09% to 11.27% (an 85% increase) due to backward integration. Net Profit Margin rose from 5.63% to 24.93% (a 342% increase), largely aided by deferred tax accounting and operational efficiencies.
EBITDA Margin
The EBITDA for FY 2024-25 was INR 31.98 Crore, resulting in an EBITDA margin of 15.38% on total revenue from operations of INR 207.84 Crore.
Capital Expenditure
The company has planned capital expenditure of INR 10 Crore to INR 15 Crore for the expansion, replacement, and modernization of assets, which is expected to be funded through internal cash accruals.
Credit Rating & Borrowing
CRISIL reaffirmed the rating for working capital facilities of INR 52 Crore at 'CRISIL BBB-/Stable'. Borrowing costs are not explicitly stated, but the company maintains nil long-term debt and a debt-equity ratio of 0.25 as of March 31, 2025.
Operational Drivers
Raw Materials
The primary raw materials are Polymers and Aluminum, which account for the bulk of the total production cost.
Capacity Expansion
Current capacity is not specified; however, the company is planning a modernization and replacement capex of INR 10-15 Crore to support operational sustainability.
Raw Material Costs
Raw material costs account for the bulk of production expenses; the company recently increased product prices to pass on a hike in input costs, helping to sustain an operating margin above 11%.
Manufacturing Efficiency
Manufacturing efficiency is driven by backward integration, which helped increase the operating profit margin by 518 basis points YoY.
Strategic Growth
Growth Strategy
Growth is targeted through backward integration of manufacturing processes to enhance margins and the modernization of assets via a planned INR 10-15 Crore capex. The company also leverages its position as part of the Nirma Group for financial flexibility and reputation.
Products & Services
The company specializes in the Manufacturing of Packaging Materials, including products like laminated tubes and other specialized packaging solutions.
Strategic Alliances
The company is part of the Nirma Group, which provides significant financial flexibility and support for its standalone business profile.
External Factors
Industry Trends
The packaging industry is experiencing a peak in input costs which may abate, potentially sustaining or improving operating margins for manufacturers who have integrated processes.
Competitive Moat
The company's moat is its association with the Nirma Group and its diversified product profile. This is sustainable as it provides a safety net for liquidity and credit access despite a modest scale of operations.
Macro Economic Sensitivity
The business is sensitive to economic conditions affecting demand and supply in domestic and international packaging markets.
Regulatory & Governance
Industry Regulations
The company maintains ISO 9001:2015 and ISO 15378:2017 (GMP) certifications and is a DMF Type III certified company, ensuring compliance with international packaging standards.
Taxation Policy Impact
The company reported a profit of INR 51.34 Crore for FY 2024-25 after accounting for Deferred Tax, indicating a significant impact from tax-related accounting adjustments.
Legal Contingencies
The financial risk profile is noted to be undermined by a 'large contingent liability,' the specific value of which is not disclosed, but its settlement is a key monitorable for credit analysts.
Risk Analysis
Key Uncertainties
The primary uncertainties include the settlement of a large contingent liability and the volatility of raw material prices (polymers/aluminum) which can drastically impact the 11.27% operating margin.
Technology Obsolescence Risk
The company is addressing potential obsolescence through a planned INR 10-15 Crore capex for the replacement and modernization of its manufacturing assets.
Credit & Counterparty Risk
Receivables stood at 68 days as of the last detailed reporting period, indicating a moderate credit risk from customers.