Shreeji Shipping Global Limited Announces Q1 Results for June 30, 2026; Completes Auditor Appointments
Shreeji Shipping Global Limited has released its unaudited Standalone and Consolidated Financial Results for the quarter ended on June 30, 2026. The results were approved by the Board of Directors on August 14, 2026, alongside key governance updates, including the appointment of new internal and cost auditors for the financial year 2026-27.The company also provided details regarding its fleet expansion, ongoing legal disputes concerning long-term vessel charter contracts, and the status of related contingent liabilities.
Q1 2026 Financial Highlights
During the quarter ended June 30, 2026, the Company recorded an increase in revenue compared to the corresponding previous quarter. However, the operating profit margin was lower due primarily to increased operational costs resulting from higher diesel prices.The financial performance metrics for the quarter are presented below:
| Metric | Consolidated (Rs. In Millions) | Standalone (Rs. In Millions) |
|---|---|---|
| Total Income | 2,173.44 | 2,077.51 |
| Cost of Operating Services/Expenses | 1,607.86 | 1,288.73 |
| Profit Before Tax | 565.58 | 550.72 |
Governance and Appointments
The Board meeting on August 14, 2026, confirmed the appointment of specialized audit personnel for the Company:- Internal Auditor: M/s Manoj Pandya and Associates (FRN: 127281W) was appointed as Internal Auditor for the financial year 2026-27.
- Cost Auditors: M/s Mitesh Suvagiya & Co. (FRN: 101470) was appointed as Cost Auditors for the financial year 2026-27.
Operational and Legal Updates
The Company continued to expand its operational capacity, adding five Mini Bulk Carriers (MBC) to its fleet during the reporting quarter. These vessels include MBC Barge Matsya, MBC Barge Shvetvahan, MBC Barge Vaman, MBC Gautam Bstar - IT, and MBC Sanghi Sudarshan.As of June 30, 2026, the Company holds an outstanding trade receivable amounting to USD 1.03 million (INR 97.51 Million), which arose from a settlement agreement related to charter hire services. This balance receivable is subject to recovery through ongoing legal proceedings.
In relation to prospective long-term vessel charter-cum-sale agreements finalized in August 2025, the company faced disputes with a potential counterparty in an Admiralty suit filed before the Hon'ble Gujarat High Court. The original claim by the plaintiff was Rs. 1,182.09 million, which was subsequently revised to Rs. 6,289.27 million. This claim remains sub-judice.
The company recognized this matter as a contingent liability based on legal advice and management assessment. Furthermore, following an order dated December 24, 2025, the Company furnished security in the form of bank guarantees amounting to Rs. 471.55 million for the release of two vessels out of five that were subject to arrest by court order. The company has initiated proceedings regarding the reduction of required security and vacation of the arrest order for the remaining three vessels.
IPO Proceeds Utilization
The Company completed its Initial Public Offering (IPO) of 1,62,98,000 equity shares in August 2025. The utilization of the IPO proceeds totaling Rs. 3,698.80 millions (net of provisional IPO expenses of Rs. 408.30 millions) is detailed below:| Objects of Issue (Prospectus) | Amount as per Prospectus (Rs. Millions) | Actual Utilised Amount till June 30, 2026 (Rs. Millions) | Unutilised Amount (Rs. Millions) |
|---|---|---|---|
| Acquisition of Dry Bulk Carriers in Supramax category | 2,511.79 | - | 2,511.79 |
| Repayment / Prepayment of Loan | 230.00 | 230.00 | - |
| General Corporate Purposes (GCP) | 957.01 | 957.00 | 0.01 |
| Total | 3,698.80 | 1,187.00 | 2,511.80 |
Unutilized IPO proceeds as of June 30, 2026, are temporarily invested in deposits. Additionally, the allocation towards General Corporate Purposes (GCP) was revised upwards to Rs. 957.01 million during F.Y. 2025-26 due to revisions and settlement agreements relating to charter hire of vessels.
SHREEJISPG Stock Price Movement
Shreeji Shipping Global Limited shares today slipped by 1.37%, closing at ₹645.85 as trading settled in the post-market session. The stock registered a volume of 459,837 shares throughout the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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