Sharat Industries Ltd (SHINDL) — concall transcript | 31 March 2026

Sharat Industries reported FY26 revenue of Rs 524.7 crore, up 38% YoY, with PAT rising 60% to Rs 15.90 crore. Export revenue grew 23% despite Middle East conflict disruptions causing inventory buildup and higher logistics costs. Management highlighted successful diversification across US, China, Russia, EU, and Middle East markets, with US tariff relief reducing duties from 50% to 10% in February 2026. The company is advancing a 1MW solar project, scaling insect protein feed R&D, and targeting Rs 1,000 crore export revenue by FY28. Domestic market expansion plans include partnerships with Hyperpure and leveraging potential government cold chain subsidies.