Revenue and Operating Income Trends
Throughout the period under review, Shreyas Interm. reported no net sales or other operating income, resulting in total operating income remaining at zero consistently from fiscal year 2019 to 2025. This absence of revenue generation is a critical factor influencing the company’s financial health and operational viability. Despite the lack of sales, the company incurred minimal employee costs, which remained steady at approximately ₹0.02 crore annually in recent years, and other expenses fluctuated between ₹0.17 crore and ₹0.54 crore, indicating ongoing operational outlays without corresponding income.
Profitability and Expense Analysis
Operating profit before depreciation, interest, and tax (PBDIT) excluding other income was negative across all years, reflecting operational losses ranging from approximately ₹0.17 crore in 2019 to ₹0.41 crore in 2025. However, the company consistently reported other income, which partially offset these losses, resulting in a positive operating profit (PBDIT) in some years, albeit marginally, with figures peaking at ₹1.08 crore in 2019 and declining to ₹0.11 crore in 2025. Despite this, depreciation charges remained substantial, averaging around ₹1.7 crore annually, which, combined with the absence of revenue, led to persistent losses before tax and after tax. The company recorded negative profit after tax every year, with losses narrowing from ₹2.90 crore in 2019 to approximately ₹1.59 crore in 2025. Earnings per share mirrored this trend, remaining negative throughout, though improving from a loss of ₹1.80 per share in 2019 to around ₹0.22 per share in 2025.
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Balance Sheet and Asset Position
The company’s total assets have gradually declined from ₹31.64 crore in 2020 to ₹24.66 crore in 2025. This reduction is primarily due to accumulated depreciation on a stable gross block of ₹68.32 crore, which decreased the net block from ₹23.13 crore in 2020 to ₹14.61 crore in 2025. Shareholders’ funds have also diminished over the years, falling from ₹23.95 crore in 2020 to ₹16.39 crore in 2025, reflecting accumulated losses and negative reserves that stood at approximately -₹58.46 crore in 2025. Long-term borrowings have remained relatively stable, around ₹7.74 crore in recent years, with a mix of secured and unsecured loans. Current liabilities have slightly increased, reaching ₹2.48 crore in 2025, while current assets have remained steady at about ₹9.22 crore, resulting in net current assets of ₹6.74 crore in 2025.
Cash Flow and Liquidity
Cash flow statements indicate limited operational cash generation, with cash flow from operating activities fluctuating between negative and positive values, including a modest ₹1 crore inflow in 2025. Investing activities have shown minor outflows, while financing activities have been largely inactive except for a ₹1 crore inflow in 2022. The company’s cash and bank balances have remained minimal, around ₹0.05 crore in recent years, suggesting constrained liquidity. Working capital changes have been negligible, indicating stable but limited operational cash requirements.
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Summary of Historical Performance
In summary, Shreyas Interm. has experienced a challenging financial trajectory characterised by zero revenue generation over multiple years, persistent operational expenses, and consistent net losses. Despite some positive operating profit contributions from other income, the company’s profitability remains under pressure due to high depreciation and lack of sales. The balance sheet reflects declining net assets and shareholder equity, while cash flow remains constrained with minimal liquidity buffers. These factors collectively indicate that the company has not realised significant operational growth or profitability in the recent past, underscoring the need for strategic reassessment or alternative investment considerations.
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