Annual Results ArchiveLast updated 13 October 20263 min read

Shree Krishna Infrastructure Profit Soars 11800% on Zero Core Business

The company's FY26 profit tripled despite its core revenue collapsing, driven by other income and cost cuts, but its auditor could not verify the numbers.

By Vinayak Gandhi, CFA · Created 13 October 2026

Shree Krishna Infrastructure reported a staggering 11800% YoY profit jump in Q4 FY26, even as revenue turned negative. The full-year profit tripled, but the statutory auditor issued a disclaimer of opinion due to missing financial records.

For a company that trades agricultural commodities and offers consultancy, the complete disappearance of its core business is the story. Shree Krishna Infrastructure’s Q4 FY26 results show a profit that leapt 118 times year-on-year, but it came from a place of financial disarray, not operational strength.

The numbers are a study in extremes. In the March quarter, revenue was negative ₹0.27 crore, a 175% plunge from the ₹0.36 crore earned a year ago. Yet, net profit rocketed to ₹1.19 crore from just ₹0.01 crore. For the full year FY26, revenue collapsed 96% to ₹0.03 crore, but profit more than tripled to ₹0.09 crore.

Revenue (₹ Cr)

Profit (₹ Cr)

Metric	CurrentQ4 FY26	Same quarter LYQ4 FY25
Period	Quarter ended March 2026	Quarter ended March 2025
Revenue (₹ Cr)	-0.27YoY -175%	0.36
Profit (₹ Cr)	1.19YoY +11800%	0.01

The profit that wasn't from business

The astronomical profit growth is almost entirely from other income, not operations. According to data from Upstox, other income for FY26 was ₹0.62 crore, up from just ₹0.05 crore in FY25. This swamped the meagre revenue from operations, which scanx.trade reports fell to ₹3.44 lakh for the full year from ₹79.55 lakh.

Cost management provided the other lever. Total expenses for FY26 were nearly halved to ₹0.54 crore. This combination—a surge in non-operational income and severe cost cutting—created the profit spike while the actual business faded.

An audit that cannot confirm the story

Crucially, the numbers come with a major caveat. Statutory auditor NKSC & Co. issued a disclaimer of opinion on the FY26 financial statements. As reported by scanx.trade, the new management could not provide sufficient records—like bank statements and loan agreements—for verification.

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· SKIFL

(BSE)

ISIN: INE951Z01013

The auditor stated it could not confirm the state of affairs, profit, or cash flows. This casts a long shadow over the reported figures, making it difficult to separate accounting reality from reported performance.

A business in transition, or retreat?

The company’s core agricultural trading and infrastructure consultancy revenue has virtually vanished. Corporate actions point to a reshuffle: the promoter was reclassified to the public category, and the authorized share capital was proposed to be increased, as per the AGM details.

However, the cash flow statement reveals severe stress. Cash from operations was negative ₹4.18 crore for FY26, and cash equivalents fell to nearly zero. The company is not generating cash from whatever it is doing.

Key Points

Shree Krishna Infrastructure’s Q4 FY26 profit jumped 11800% year-on-year to ₹1.19 crore, but its revenue was negative ₹0.27 crore.
The full-year FY26 profit tripled to ₹0.09 crore on a 96% collapse in revenue, driven by a ten-fold increase in other income and deep cost cuts.
Statutory auditor NKSC & Co. issued a disclaimer of opinion, as the new management could not provide sufficient financial records for verification.
Cash from operations was negative ₹4.18 crore for the year, and cash reserves were nearly depleted, indicating no operational cash generation.
The promoter was reclassified to a public shareholder, and major governance changes were approved at the AGM amidst the business decline.

Hexa Perspective

The results are unreadable as a measure of business health. The profit is an accounting outcome from non-core income and austerity, set against a backdrop where the auditor could not verify the books. The five-year trends tell the real story: revenue has compounded at -52% annually, even as profit has grown.

Investors are left weighing a tripled profit against a disclaimer from the auditor and a vanished core business. Until the company can produce verifiable records and demonstrate a sustainable revenue stream, the reported numbers remain a puzzle with missing pieces.

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Frequently asked questions

What were Shree Krishna Infrastructure's Q4 FY26 results?

Shree Krishna Infrastructure reported a net profit of ₹1.19 crore for Q4 FY26, a massive 11800% increase year-on-year. However, revenue was negative ₹0.27 crore, a 175% decline from the ₹0.36 crore reported in Q4 FY25.

Did Shree Krishna Infrastructure's profit rise or fall in Q4 FY26?

Shree Krishna Infrastructure's profit rose dramatically in Q4 FY26. It increased by 11800% year-on-year to ₹1.19 crore, compared to a profit of just ₹0.01 crore in the same quarter last year.

What is Shree Krishna Infrastructure's revenue for Q4 FY26?

Shree Krishna Infrastructure reported negative revenue of ₹0.27 crore for Q4 FY26. This represents a 175% decline from the ₹0.36 crore in revenue it generated in the fourth quarter of the previous fiscal year.

Why was Shree Krishna Infrastructure's Q4 FY26 revenue negative?

The company's revenue from operations has collapsed. According to scanx.trade, FY26 revenue from operations fell to just ₹3.44 lakh. The negative revenue in Q4 suggests adjustments or reversals that outweighed any minimal sales, indicating the core trading and consultancy business has nearly halted.

What drove the huge profit growth despite negative revenue?

The profit surge was driven by a large increase in other income and deep cost cuts. Data from Upstox shows other income jumped to ₹0.62 crore in FY26 from ₹0.05 crore. Simultaneously, total expenses were nearly halved to ₹0.54 crore, creating profit despite no core business.

What is the significance of the auditor's disclaimer of opinion?

The auditor, NKSC & Co., issued a disclaimer because the new management could not provide sufficient financial records for verification. This means the auditor could not confirm the accuracy of the reported profit, revenue, or cash flows, casting doubt on the reliability of the entire financial statement.

What was Shree Krishna Infrastructure's cash flow in FY26?

Shree Krishna Infrastructure's cash flow from operations was negative ₹4.18 crore for FY26, as per data from Upstox. This severe cash burn, along with cash equivalents falling to nearly zero, indicates the company is not generating cash from its operations.

What corporate actions did the company take recently?

At its AGM, the company reclassified its promoter to a public shareholder and proposed a large increase in authorized share capital. It also appointed new statutory auditors and directors, signaling a major governance overhaul during this period of business transition.

What is the 5-year trend for Shree Krishna Infrastructure's revenue and profit?

Over the past five years, Shree Krishna Infrastructure's revenue has compounded at an annual rate of -51.8%, indicating a severe and consistent decline. In stark contrast, its profit has compounded at a rate of 75.9% per year during the same period.

Is Shree Krishna Infrastructure's profit sustainable?

The current profit is not sustainable as it relies on non-recurring other income and severe cost cutting, not a functioning core business. With revenue virtually gone, cash flow deeply negative, and financial records unverifiable, the reported profitability lacks an operational foundation.

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