Shellz India Ltd.
RHP · filed 15 Oct 2026
Shellz India Ltd. is a company that faces risks related to consumer preferences and significant financial indebtedness, including a recalled unsecured loan and total outstanding debt of Rs 11,283.04 lakhs as of June 30, 2026. The company reported a revenue of Rs 47.241 crore and a profit after tax of Rs 4.0788 crore in its latest financial period. The draft prospectus indicates a negative revenue compound annual growth rate (CAGR) of -49.73% and highlights high-severity risks regarding legal proceedings and the inability to meet debt obligations.
What stands out
Shrinking revenue. Restated revenue CAGR of -49.7%.
Risk factor. Our inability to anticipate, respond to and meet the tastes, preferences or consistent quality requirements of our consumers or our inability to accurately predict and successfully adapt to changes in market demand or consumer preference could reduce demand for our products, affect our brand loyalty
Risk factor. We have incurred significant indebtedness which exposes us to various risks which may have an adverse effect on our business, results of operations and financial conditions.
Risk factor. Conditions and restrictions imposed on us by the agreements governing our indebtedness could adversely affect our ability to operate our business.
Risk factor. As of June 30, 2026, our total sanctioned and outstanding indebtedness (fund based and non-fund based) was ₹ 11,283.04 lakhs and ₹10,949.12 lakhs, respectively.
How the offer is structured
- Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by our Company₹22.0 Cr
- Funding our incremental working capital requirements₹23.0 Cr
- General corporate purposes
Restated financials
Revenue
₹47.2 Cr
Latest fiscal year
Profit after tax
₹4.1 Cr
Revenue CAGR
-49.7%
PAT CAGR
-29.9%
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2024 | ₹187 Cr | ₹8.3 Cr | ||
| 2025 | ₹193 Cr | ₹13.4 Cr | ||
| 2026 | ₹47.2 Cr | ₹4.1 Cr |
Promoters, litigation & related parties
Promoter (pre)
88.1%
Related-party
8.8%
Share of revenue
Risks the company discloses
Our inability to anticipate, respond to and meet the tastes, preferences or consistent quality requirements of our consumers or our inability to accurately predict and successfully adapt to changes in market demand or consumer preference could reduce demand for our products, affect our brand loyalty and impact our sales.(Consumer Preferences & Quality)
We have incurred significant indebtedness which exposes us to various risks which may have an adverse effect on our business, results of operations and financial conditions.(Financial Indebtedness)
Conditions and restrictions imposed on us by the agreements governing our indebtedness could adversely affect our ability to operate our business.(Financial Indebtedness)
As of June 30, 2026, our total sanctioned and outstanding indebtedness (fund based and non-fund based) was ₹ 11,283.04 lakhs and ₹10,949.12 lakhs, respectively.(Financial Indebtedness)
Defaults of payment and other obligations under our financing arrangements may result in an event of default, acceleration of our repayment obligations and enforcement of related security interests over our assets.(Financial Indebtedness)
Substantial portion of our long-term indebtedness is subject to floating rates of interest. Fluctuations in market interest rates may require us to pay higher rates of interest and will also affect the cost of our borrowings.(Financial Indebtedness)
Any adverse decision in legal proceedings involving our Company, Subsidiaries, Group Companies, Promoters, Directors, Key Managerial Personnel and Senior Managerial Personnel may have a material adverse effect on our business, results of operations and financial condition.(Legal Proceedings)
One of our unsecured loans has been recalled by the lender, and we are required to repay the outstanding amount in accordance with the lender's demand. Any further recall of loans by lenders could create additional liquidity pressures and may require us to divert funds that would otherwise be used for our business operations.(Financial Indebtedness)
No dimension score is published for this filing. Too few sections could be read from the document to score it without guessing, and a score built on two fields would say more about our extraction than about the company.