Shiva Suitings Ltd (521003)
🎯 Key Takeaways
- Shiva Suitings Ltd appears to be a micro-cap textile company transitioning from minimal historical operations to a near-zero revenue state, with recent quarters showing no meaningful business activity. The company has shifted focus to capital restructuring rather than operational growth, evidenced by persistent losses and negative ROE/ROCE.
- Revenue declined 1950% QoQ to ₹0 in Q1FY27.
- ⚠️ 1) Persistent operational shutdown with no revenue generation in three of the last four quarters. 2) Negative profitability metrics (ROE -6.3%, ROCE -
📖 The Story
Shiva Suitings Ltd appears to be a micro-cap textile company transitioning from minimal historical operations to a near-zero revenue state, with recent quarters showing no meaningful business activity. The company has shifted focus to capital restructuring rather than operational growth, evidenced by persistent losses and negative ROE/ROCE. Its 125% one-year return likely reflects speculative trading rather than fundamental improvement.
📰 What's Happening
Management has not announced any new orders, expansions, or strategic initiatives in recent filings. The most notable activity was a minor equity infusion in March 2026 that increased total assets from ₹2 crore to ₹3 crore, though no operational rationale was provided. Shareholding remains highly fragmented with 99.9% public ownership and no promoter stake beyond 0.01%.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 1 | 0 | 0 | -0 | 0 |
| Operating Profit | 0 | -0 | -0 | -0 | -0 |
| OPM % | 1.1% | -9.7% | — | 400.0% | -13.5% |
| Net Profit | 0 | -0 | -0 | -0 | -0 |
| EPS | ₹0.05 | ₹-0.16 | ₹-0.07 | ₹-0.40 | ₹-0.24 |
Revenue collapsed from ₹1 lakh in June 2025 to ₹0 in subsequent quarters, with operating performance swinging between minor profits and significant losses. The company reported negative operating margins consistently after June 2025, and net losses widened slightly before stabilizing at near-zero levels. This suggests either complete operational shutdown or accounting irregularities given the volatility in reported figures.
🔮 Management Outlook & What's Next
There is no forward guidance or business update provided in the latest filings. Management has not addressed future plans, demand trends, or recovery strategies in any disclosed document. The absence of commentary on textile demand, order pipelines, or capacity utilization indicates a lack of active operational focus.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 |
| Reserves | 1 | 1 | 1 | 0 |
| Borrowings | 0 | 0 | 0 | 0 |
| Total Liabilities | 2 | 2 | 5 | 3 |
| Fixed Assets | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 2 | 2 | 5 | 3 |
The balance sheet shows minimal capitalization with total assets of just ₹3 crore as of March 2026 and no debt or reserves beyond ₹1 crore. Equity remains flat at ₹2 crore, suggesting no fresh capital raises or significant asset purchases. The company appears to be holding cash equivalents without deploying them into operations or returning value to shareholders.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +0 |
| Investing | 0 |
| Financing | 0 |
| Net Cash Flow | +0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 0.0% | 0.0% | 0.0% | 0.0% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 99.9% | 99.9% | 99.9% | 99.9% |
| # Shareholders | 4,088 | 4,088 | 4,075 | 4,081 |
Institutional and DII holdings remain near zero with no accumulation trends. The shareholder base is extremely retail-dominated and stable in count, but promoter stake is negligible at 0.01%. No insider buying or significant portfolio shifts are evident in recent quarterly disclosures.
⚖️ Peer Comparison — Textiles
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| GRASIM | 2.25 L Cr | 39.4 | 9.6% | 10.8% | 2.16 |
| WELSPUNLIV | 18,716 | 65.0 | 7.4% | 5.9% | 0.51 |
| VTL | 17,438 | 20.2 | 10.7% | 8.7% | 0.13 |
| ARVIND | 15,168 | 35.3 | 14.3% | 10.6% | 0.36 |
| TRIDENT | 12,302 | 30.9 | 10.1% | 8.3% | 0.37 |
| SWANCORP | 9,065 | 43.5 | 4.2% | 2.9% | 0.29 |
| ICIL | 8,583 | 56.9 | 9.8% | 6.4% | 0.46 |
| GARFIBRES | 8,169 | 39.4 | 22.9% | 16.9% | 0.05 |
| KUSUMGAR | 5,944 | — | — | — | 0.45 |
| PDSL | 5,105 | 43.4 | 12.5% | 10.5% | 0.64 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Persistent operational shutdown with no revenue generation in three of the last four quarters. 2) Negative profitability metrics (ROE -6.3%, ROCE -8.2%) despite minimal debt, indicating capital inefficiency. 3) Volatile financial reporting with zero revenues but fluctuating expense and margin figures. 4) Lack of management communication or strategic direction despite public listing status.
🧠 Analyst's Read
The company lacks a viable business model or operational momentum, making it a high-risk speculative entity rather than a turnaround candidate. Investors should monitor for any sudden changes in business activity or management commentary, but current indicators suggest stagnation rather than recovery.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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