Shayona Engineering reported robust growth for FY26 with a 73.88% rise in operational revenue to Rs 40.27 crore and a 67.06% surge in profit after tax to Rs 4.04 crore. The company, which recently debuted on the BSE SME platform, is now scaling production at its new Menpura division while seeking to expand borrowing limits to Rs 50 crore to support working capital.
Shayona Engineering FY26 Revenue Soars 74% to Rs 40.27 Crore
Revenue from operations reached Rs 40.27 crore, while Profit After Tax (PAT) climbed to Rs 4.04 crore for the year ending March 31, 2026.
Reader Takeaway: Revenue growth is robust, but investors should track the integration of the Menpura plant and auditor transition.
What just happened
Shayona Engineering has posted impressive annual growth for FY26, signaling strong operational momentum following its January 2026 BSE SME listing. Revenue saw a significant 73.88% increase, while EBITDA margins remained healthy at Rs 7.57 crore, reflecting operational efficiency gains despite a rise in finance costs to Rs 1.61 crore.
Why this matters
The company is scaling its production capabilities with the launch of its Menpura division, which focuses on PVC and HDPE pipes and fittings. This move represents a strategic diversification of its product portfolio. To fund this ongoing expansion and manage higher working capital requirements, management is requesting shareholder approval to increase borrowing limits from Rs 20 crore to Rs 50 crore.
Governance and Auditor Changes
Following its transition to a listed entity, Shayona Engineering is changing its statutory auditor. M/s. SGPS & Associates resigned in August 2026, citing resource constraints. The company has proposed appointing M/s. O. P. Rathi & Co. as the new auditor to align with the needs of a publicly traded firm. Management is also addressing previous auditor observations regarding accounting software audit trails and inventory record-keeping to ensure robust financial reporting compliance.
Risks to watch
The company's increased debt profile, should the borrowing limit expansion be approved, requires careful monitoring of interest coverage ratios. Additionally, the company is susceptible to project-based demand cycles and intensifying market competition in the piping segment.
What to track next
Watch for the ramp-up velocity of the Menpura unit, as this will be the primary driver for top-line growth in FY27. Furthermore, the successful appointment of the new auditor and their subsequent review will be critical for maintaining investor confidence.