Shivam Autotech Ltd (SHIVAMAUTO)

📊 Quarterly Results (₹ Cr)

Revenue has shown volatility but no clear recovery trend, declining from ₹113 crore in September 2025 to ₹110 crore in June 2026, with operating performance swinging between marginal profit and loss. Operating margins have remained thin or negative, and net losses have persisted, widening to ₹21 crore in the latest quarter. Despite this, the company has maintained a stable but low equity base, while borrowings remain elevated at ₹403 crore as of March 2026, indicating continued reliance on debt financing. The lack of operating cash flow and recurring losses underscore the challenges in achieving sustainable profitability.

🔮 Management Outlook & What's Next

Management has not provided formal forward guidance on revenue recovery or margin improvement, but has consistently cited electric mobility and localization as strategic growth pillars. The board has focused on capital restructuring, including a rights issue to increase authorized capital and address liquidity constraints, and has emphasized the need to strengthen the balance sheet. There is no indication of a turnaround timeline, and management continues to operate under unprofitable conditions with no dividend proposed.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

The balance sheet reflects a highly leveraged structure with total borrowings of ₹403 crore as of March 2026, significantly exceeding equity of ₹26 crore, resulting in a debt-to-equity ratio of 10.59. While total assets have slightly declined, the company relies heavily on debt to finance operations, and negative reserves indicate cumulative losses. The rights issue and capital increase are responses to this fragile financial position, aiming to improve equity buffers and reduce financial risk, but do not yet address operational deficits.

💰 Cash Flow Statement (₹ Cr)

👥 Shareholding Pattern

Promoter holding remains stable at 69.52% over recent quarters, indicating no dilution or exit by promoters. Institutional ownership is negligible, with FII at 0% and DII at approximately 7%, suggesting limited investor confidence or access. The shareholder base is broad with 29,623 public shareholders, but low trading activity and a stock price below the OCD conversion price may deter institutional participation. No significant changes in shareholding patterns indicate activist interest or major stake sales.

⚖️ Peer Comparison — Auto Ancillaries

🔗 Peer Stock Analyses

⚠️ Risk Factors

1. Persistent un profitability with widening net losses and negative margins across quarters. 2. High financial costs and reliance on debt, including redemption premiums on debenture repayments. 3. Liquidity constraints despite capital restructuring plans, with unutilized funds from the preferential issue and ongoing losses limiting operational flexibility. 4. Stock price trading below the conversion price of outstanding debentures, increasing the risk of forced conversion or refinancing difficulties.

📋 Recent Filings

• Announcement2026-09-25Shivam Autotech Ltd announced that its trading window will close on October 1, 2026, and remain shut for 48 hours after the board meeting to approve u…
• 🟡 Board Meeting2026-09-25Shivam Autotech held its 21st AGM on September 25, 2026, via video conference, with key directors and officers attending. Shareholders approved the au…
• 🔴 annual report2026-09-02Shivam Autotech Limited announced that its 21st Annual General Meeting will be held on September 25, 2026 via video conference, and the integrated Ann…
• 🔴 annual report2026-09-01Shivam Autotech Ltd reported a 9.8% revenue decline to ₹409.58 crore and widened loss of [amount context mismatch] crore for FY2025-26 amid liquidity …
• 🟡 Board Meeting2026-09-01Shivam Autotech Ltd announced its 21st AGM on September 25, 2026, via video conferencing, with resolutions including adoption of FY 2025-26 audited fi…
• Announcement2026-08-24Shivam Autotech Limited reported a net loss of Rs. 2,098.94 lakhs for the quarter ended June 30, 2026, with negative net worth of Rs. 6,167.13 lakhs, …
• 🟡 Board Meeting2026-08-13Shivam Autotech's board approved unaudited Q1 results, set the AGM for September 25, 2026, and cleared a capital increase to Rs. 55 crores and Mr. Yog…
• 🟡 Board Meeting2026-08-13Shivam Autotech disclosed a CARE Ratings monitoring report for its ₹120 crore preferential issue of optionally convertible debentures, confirming fund…
• 🟡 Board Meeting2026-07-01Shivam Autotech announced the appointment of Ms. Mehvish as Company Secretary and Compliance Officer effective July 1, 2026, and approved a rights iss…
• 🔴 Corporate Action2026-07-01Shivam Autotech announced a rights issue to raise up to ₹12,000 Lakhs by issuing equity shares with a face value of ₹2, subject to regulatory approval…

🧠 Analyst's Read

Shivam Autotech remains in a fragile financial position with no clear path to profitability, despite strategic shifts toward electric mobility and capital restructuring efforts. The company's future trajectory hinges on the successful execution of its rights issue, fund utilization, and ability to return to positive cash flows — key risks include execution delays, rising finance costs, and sustained weak demand in core segments.

Based on filing content and financial data. Not a recommendation.