Shristi Infrastructure Development Corporation financials: balance sheet, profit and loss, cash flow

BSE: 511411RealtySmall Cap

SHRISTI INFRASTRUCTURE DEVELOPMENT CORPORATION LTD. · Face value ₹10 · Listed Mar 1994

₹32.00₹1.01 (3.26%)

Share price at the BSE close on 30 Oct 2026. Previous close ₹30.99.

30 Oct: open ₹32.19, high ₹32.19, low ₹32.00

52-week range of traded prices to 30 Oct 2026

₹23.20Low, 23 Mar 2026₹38.95High, 27 May 2026

Market cap: ₹71 Cr3,198th largest listed
P/E: Lossover the last 12 months
P/B: Net worth zero or below
Dividend yield: Nonein the last 12 months
ROE: Net worth zero or below
ROCE: −6.4%
Debt to equity: Net worth zero or below
Volume, BSE: 2

Shristi Infrastructure Development Corporation's financial statements for the 10 years to Mar 2026, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Shristi Infrastructure Development Corporation annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹351 Cr, year to Mar 2020; lowest ₹70 Cr, year to Mar 2026A loss in 8 of the 10 years shown

Operating and net margin, per cent

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue70
Materials and goods−58
Employee costs−6.8
Other expenses−7.9
Operating profit−2.5
Depreciation−0.1
Other income+1.3
One-off items0.0
Finance costs−16
Profit before tax−17
Tax+0.1
Joint ventures−8.2
Net profit−25

What the company owns

Plant, investments and other assets₹236 Cr
Inventory₹179 Cr
Receivables₹8 Cr
Cash and bank₹2 Cr

What pays for it: net worth and liabilities

Borrowings₹367 Cr
Other liabilities₹43 Cr
Owed to suppliers₹14 Cr

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Shristi Infrastructure Development Corporation quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 28 May	Jun 2026Twelve monthsFiled 12 Aug
Revenue from operations	194	179	309	351	268	277	226	115	87	70	57
	127	149	252	291	249	259	208	147	146	72	70
Materials and goods bought	62	107	174	197	139	142	89	128	127	58	50
Employee costs	–	18	30	33	32	37	35	6	7	7	7
Other expenses	–	24	48	61	79	81	84	13	12	8	14
Operating profit before depreciation	67	30	57	60	19	18	18	−31	−58	−2	−14
Operating margin	34.7%	16.8%	18.5%	17.1%	7.0%	6.6%	7.9%	−27.3%	−67.1%	−3.6%	−23.9%
Materials, % of revenue	–	59.8%	56.4%	56.1%	51.8%	51.0%	39.3%	111.2%	145.5%	82.5%	87.9%
Employee costs, % of revenue	–	10.0%	9.6%	9.4%	11.8%	13.2%	15.7%	5.2%	8.0%	9.7%	11.6%
Other expenses, % of revenue	–	13.4%	15.5%	17.4%	29.5%	29.1%	37.1%	10.9%	13.6%	11.3%	24.4%
Depreciation and amortisation	10	0	25	16	25	26	25	0	0	0	0
Operating profit after depreciation	57	30	32	44	−7	−7	−7	−32	−59	−3	−14
Other income	9	7	3	2	13	7	4	8	67	1	1
Finance costs	63	33	68	118	65	207	66	28	18	16	16
Profit before one-off items and tax	3	4	−33	−71	−59	−207	−69	−52	−10	−17	−28
One-off items	0	0	0	0	−4	0	−10	37	0	0	0
Profit before tax	3	4	−33	−71	−63	−207	−79	−15	−10	−17	−28
	1	1	−12	16	25	−14	4	4	0	0	0
Current tax	–	2	3	2	0	0	0	0	−1	0	0
Deferred tax	–	0	−15	15	25	−14	3	4	1	0	0
Share of profit of joint ventures and associates	–	−1	0	−3	0	−21	−15	−21	−5	−8	−8
	2	2	−21	−91	−89	−214	−98	−40	−15	−25	−35
Belonging to the company's shareholders	2	2	−14	–	−68	−166	−96	−40	−15	−25	−35
Belonging to outside owners of subsidiaries	–	–	−7	–	−21	−48	−2	–	0	0	–
Other comprehensive income	–	–	0	0	0	0	0	0	0	0	1
Total comprehensive income	–	–	−21	−91	−89	−214	−98	−40	−16	−25	−35
Net margin	1.0%	1.1%	−6.8%	−25.9%	−33.0%	−77.0%	−43.3%	−34.8%	−17.5%	−36.5%	−62.3%
Net margin without joint ventures and associates	–	1.4%	−6.6%	−25.0%	−33.0%	−69.6%	−36.8%	−16.2%	−11.5%	−24.8%	–

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2017 they do not, so they are left blank. Belonging to the company's shareholders is left blank for the year to Mar 2020: the filing's split of the profit between the company's shareholders and the other owners of its subsidiaries is contradicted by its own figures, which do not prove which line is the shareholders'.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 28 May
	366	277	116	−98	−209	−113	−130	−155
	315	262	122	−44	−151	−113	−134	−159
Share capital	22	22	22	22	22	22	22	22
Reserves	293	240	99	−67	−173	−136	−156	−181
Belonging to outside owners of subsidiaries	51	15	−6	−54	−58	–	4	4
	1,103	1,060	1,057	1,127	1,064	414	382	367
Repayable after a year	1,045	1,016	1,009	459	403	364	361	216
Repayable within a year	58	44	48	668	661	50	22	152
	514	413	451	1,240	1,282	456	260	363
Trade payables	152	131	152	152	140	80	12	14
Other financial liabilities	76	103	126	273	294	112	33	32
Other liabilities	227	134	125	147	187	213	193	164
Provisions	0	0	0	0	0	0	0	0
	1,048	1,017	1,014	460	404	368	362	218
Other financial liabilities	0	0	–	0	–	4	–	–
Other liabilities	0	0	–	0	–	0	0	1
Provisions	2	2	1	1	1	1	1	1
Deferred tax	–	0	4	0	–	–	–	–
Total assets	1,928	1,707	1,581	1,603	1,477	710	491	425
	1,125	1,056	929	906	848	231	217	209
Plant in use, after depreciation	729	726	702	677	654	108	108	108
Plant being built	46	36	34	35	35	35	35	35
Intangible assets	79	0	8	7	0	0	0	0
Goodwill	38	38	38	38	38	0	0	0
Intangible assets being developed	–	86	–	0	–	–	–	–
Property held to earn rent	–	–	–	0	–	–	–	59
Investments	133	136	136	116	103	81	67	0
Other financial assets	0	2	1	14	1	0	2	2
Deferred tax	15	21	–	11	8	4	3	3
Other assets	84	11	10	9	8	1	1	1
	803	651	651	696	629	479	275	216
Inventories	507	426	425	431	421	322	219	179
Trade receivables	116	35	78	104	87	60	9	8
Cash and cash equivalents	12	7	10	19	17	3	1	1
Other bank balances	12	9	5	9	2	1	0	1
Loans given	7	5	4	5	1	1	0	0
Other financial assets	8	85	45	58	48	44	5	9
Tax paid in advance	33	14	13	14	10	5	4	4
Other assets	109	72	71	56	42	44	36	15
Net debt	1,080	1,044	1,042	1,098	1,045	410	381	365

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 28 May
	22	33	69	71	90	33
	22	34	0	105	132	17
	−10	15	72	98	141	34
Receivables	−46	−25	17	27	52	1
Inventories	1	−5	10	99	103	40
Payables	21	0	−13	−59	−63	−1
Other working capital	14	45	58	31	50	−5
Tax paid	0	−1	4	−5	−2	0
Interest paid	0	0	66	−28	−18	0
Capital spending	3	1	1	546	0	0
Free cash flow	19	33	68	−474	90	33
	10	−6	17	725	5	0
Plant and property sold	5	0	1	0	0	0
Interest received	2	1	2	0	1	0
	−30	−18	−88	−811	−97	−32
Borrowings raised	34	28	0	−642	−31	−15
Borrowings repaid	0	0	−61	0	0	0
Interest paid	−63	−46	−27	206	−66	−17
Dividends paid	–	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	3	10	−2	−14	−1	0

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020. Dividends paid is left blank for the year to Mar 2021: the cash-flow statement states no dividends paid, while the company's own dividend record shows one paid in the period, so the line is not given.

Consolidated, ₹ per share, years to March.Shristi Infrastructure Development Corporation dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 28 May
Earnings per share	₹0.89	₹0.89	−₹9.44	−₹40.94	−₹39.89	−₹96.28	−₹44.02	−₹18.10	−₹6.86	−₹11.46
Diluted earnings per share	₹0.89	₹0.89	−₹9.44	−₹40.94	−₹39.89	−₹96.28	−₹44.02	−₹18.10	−₹6.86	−₹11.46
Dividend per share	₹0.50	₹0.50	₹0.25	–	₹0.25	–	–	–	–	–
Book value per share	–	–	₹141.86	₹117.90	₹54.80	−₹20.03	−₹68.00	−₹51.04	−₹60.31	−₹71.59
Dividend payout	56.3%	56.0%	–	–	–	–	–	–	–	–
Shareholder yield	–	–	–	–	–	0.0%	0.0%	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	777	617	418	211	124	112	45	94	82	60

Shareholder yield is left blank for the year to Mar 2021: the cash-flow statement states no dividends paid, while the company's own dividend record shows one paid in the period, so the line is not given.

Ratios

Consolidated, years to March.Shristi Infrastructure Development Corporation PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 28 May
Revenue growth	–	−7.5%	72.3%	13.8%	−23.7%	3.5%	−18.6%	−48.9%	−24.5%	−19.9%
Operating profit growth	–	−55.0%	89.1%	5.5%	−68.9%	−1.8%	−2.5%	–	–	–
Net profit growth	–	0.7%	–	–	–	–	–	–	–	–
Earnings per share growth	–	0.0%	–	–	–	–	–	–	–	–
	–	–	−4.5%	–	−35.4%	−429.1%	97.8%	30.4%	12.3%	17.4%
	–	–	–	–	–	−393.7 pts	526.9 pts	−67.4 pts	−18.1 pts	5.1 pts
From the net margin	–	–	–	–	–	−48.1 pts	124.7 pts	−17.4 pts	−15.2 pts	13.4 pts
From asset turnover	–	–	–	–	–	−5.8 pts	48.3 pts	−22.6 pts	5.7 pts	1.3 pts
From borrowing	–	–	–	–	–	−339.9 pts	353.9 pts	−27.5 pts	−8.6 pts	−9.6 pts
Return on capital employed	–	–	2.2%	3.3%	−0.6%	−0.7%	−0.8%	−10.5%	−23.2%	−1.2%
Interest cover	0.9	0.9	0.5	0.4	–	–	–	–	–	–
Debt to equity	–	–	3.01	3.83	9.11	–	–	–	–	–
Receivable days	–	–	137	36	106	137	141	191	37	41
Inventory days	–	–	1,062	789	1,119	1,111	1,730	915	630	1,134
Payable days	–	–	319	243	400	392	574	229	34	91
Cash conversion cycle, days	–	–	880	582	825	855	1,297	877	633	1,084
Working capital days	–	–	383	277	318	125	−17	223	147	18
Asset turnover	–	–	0.16	0.19	0.16	0.17	0.15	0.11	0.15	0.15
Assets per rupee of net worth	–	–	6.12	6.30	8.58	41.24	−15.76	−8.28	−4.86	−3.13
Sales per rupee of plant	–	–	0.42	0.48	0.38	0.41	0.35	1.07	0.81	0.65
Capital spending to depreciation	–	–	–	–	0.13	0.03	0.05	3,635.42	0.14	0.06
Plant being built, % of plant in use	–	–	6.3%	5.0%	4.9%	5.2%	5.3%	32.3%	32.3%	32.4%

Interest cover is left blank for the years to Mar 2021, Mar 2022, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2022, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: net worth is below zero, so there is no shareholders' money to set the borrowings against. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −5.6%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	−23.6%	−32.4%
Return on equity, average	–	−54.2%	20.0%
Return on capital employed, average	–	−7.3%	−11.6%
Operating margin, average	1.1%	−16.7%	−32.6%
Net margin, average	−27.3%	−41.8%	−29.6%
Asset turnover, average	–	0.14	0.13
Cash conversion cycle, days, average	–	949	865

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	297	194	33
Cash from investing	741	730	0
Cash from financing	−1,046	−940	−32
Capital spending	548	546	0
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings repaid	61	0	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	4	6	6	5	6	6
Altman Z-scorePublished threshold 1.1	–	–	1.85	1.76	1.13	−2.43	−3.47	−0.42	−0.94	−3.95
Beneish M-scorePublished threshold −1.78	–	–	–	–	−1.64	−2.95	−3.32	−3.47	−4.62	−4.31
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−7.35	−15.17	−11.92	−76.53	−18.42	−12.64
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−83.91	148.66	29.95	2.75	18.10	−60.91	9.48
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−29.02	29.41	−0.75	35.00	−68.11	−30.73	36.30
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	5.71	−15.20	−0.44	−12.48	−6.51	−54.29	−25.66
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	2.92	24.14	24.27	20.93	–	2,493.31	8,158.09
Effective tax ratePublished threshold 17.16 per cent	41.83	36.02	–	–	–	–	–	–	–	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
28 Aug 2025	Brickwork Ratings India Private Limited	Bank Loan RatingsLong and short-term scales	BWR D-		17.47

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.