Shish Industries income up 27.10 per cent to Rs 23.78 crore, PAT of Rs 2.62 crore, up 64.78 per cent over Q1 2023-24 for the quarter ended June 30, 2024

PNN

New Delhi [India], July 18: Shish Industries Ltd. (BSE Code: 540693) is a multi-disciplinary corporation based in India that is known for its groundbreaking innovations and quality products like industrial and export packaging products, building insulations and ventilations products, geo-membrane products amongst others. During the first quarter of FY 2024-25, the company reported income of INR 23.78 crore and PAT of INR 2.62 crore.

The company is driving its business operations in sync with its financial and growth aspirations, including investing in profitable and scalable businesses. Commenting on the results, Mr. Satishkumar Maniya, Chairman and Managing Director, Shish Industries Limited said, "We are thrilled to see the positive momentum in our business this quarter and our strategic initiatives have allowed us to achieve remarkable growth in key markets. The increased demand for our products, combined with addition of new clients and product line, has been a significant driver of our success."

In April 2024, the Company had signed a 5 years trade agreement with USA based entity Best Construction Products Inc for minimum export of approx. Rs 313 Crores (USD 37.5 million).

In May 2024, the Company had done a successful fund raise of approx. Rs 51.26 Crores (USD 6.13 Million) - Rs 8.05 Crores as preferential issue allotment and Rs 43.21 Crores as convertible equity warrant at price of Rs 120.05 per equity share.

In line with the Company's strategic expansion plan, in May 2024, the Company had announced the successful acquisition of two major companies, Dunnage Bag Private Limited and Interstar Polyfab Private Limited, both of which have a proven track record and goodwill, thus significantly contributing to our growth in quarter one of 2024-25.

Shish Industries Limited through intense research in its field, brings innovations & customization solutions to global customers, driven by strong development capabilities. Company has shown great development since its incorporation. Various innovative developments have always provided the Company an edge over other industries in its field. Founded in 2012, Shish Industries Ltd. has become a trusted manufacturer & exporter of plastic corrugated sheets, PP box, FIBC Bags, PP/PE woven fabric, tarpaulin, shipping packaging supplies. Company has its registered & corporate offices and various factories in Surat district, Gujarat. For further information on Shish Industries Ltd., visit www.shishindustries.com

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