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Shangar Decor

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uuid003mctp

Namestring
Shangar Decor
Legal namestring
Shangar Décor Limited
Company typeenum
Public
Founded yearint
1995
Descriptiontext

Shangar Décor Limited is an Ahmedabad, Gujarat-based event management and decoration company founded in 1995 by Mr. Samir Shah and listed on the Bombay Stock Exchange (scrip code 540259, classified as a penny stock). The company provides end-to-end event decor services across seven primary service lines: pre-wedding functions (Engagement, Mehendi, Sangeet, Garba, Haldi), theme weddings, corporate events, religious events, property decor, lights decor, and catering. It serves two principal customer segments — individual wedding clients (primary) and corporate clients seeking event management for conferences, exhibitions, trade shows, and convocations — both within Gujarat and the broader Indian market. The company claims 200+ trusted-company relationships, 80+ successful events, and 30+ party plots managed, with founder Samir Shah holding 40+ years of industry experience and association leadership roles in the Gujarat and Ahmedabad decorator communities.

The business operates on a professional-services, quote-based revenue model with no publicly disclosed pricing, no proprietary technology platform, and no software/app product surface. Go-to-market is direct: a corporate website with investor disclosures, plus phone and email booking channels, with all services delivered on-site at Ahmedabad-area party plots, hotels, and client-specified venues. The management team is family-led (Samir Shah as Chairman & MD, with Moulin Shah and Saumil Shah as Directors, each with 18+ years of experience), supported by 11–50 employees consisting of skilled artists and technicians, and was recently augmented by two Independent Directors appointed at a June 2026 EGM. Distribution is regional rather than national, and there is no evidence of international operations.

Financially, revenue scaled from ₹96.5M in 2023 to ₹232.6M (approximately $2.8M USD) in 2026, with EBITDA of ₹53.4M and net income of ₹14.7M (a 6.3% net margin), and 82.3% earnings growth in the most recent reporting period. Ownership is widely dispersed public (97.06% public shareholders, 2.94% promoter group across six individuals). The company conducted a Right Issue in 2024, and recent governance disclosures include the July 2026 resignation of the Company Secretary. There are no documented acquisitions, partnerships, or patents.

Short descriptiontext

Shangar Décor Limited is an Ahmedabad-based event management and decor company, founded in 1995, providing wedding, corporate, religious, property, lighting, and catering decor services to individual and corporate clients across Gujarat, India, and listed on the BSE.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1–10
akta.pro rankint
HeadquartersAhmadabad, India
HQ citystring
Ahmadabad
HQ countrystring
India
HQ regionstring
Asia
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
event management services, wedding decor services, corporate event planning, lights decor services, catering services
Industry6 codes
PRIMARYHSACABAA
Full-Service Wedding Planning
SECONDARYHSACABAH
Wedding Design, Decor & Floral Planning
SECONDARYHSACAFAK
Decor Props & Themed Set Rentals
Home & Personal Services/Event & Personal Concierge Services/Event Rentals (Tents, Furniture, Decor)
SECONDARYHSACAOAF
Event Tablescapes & Centerpiece Styling
Home & Personal Services/Event & Personal Concierge Services/Event Decor, Floral & Styling Services
SECONDARYHSACAFAD
Dance Floor, Staging & Platform Rentals
Home & Personal Services/Event & Personal Concierge Services/Event Rentals (Tents, Furniture, Decor)
SECONDARYHSACAFAA
Tent & Canopy Rentals
Home & Personal Services/Event & Personal Concierge Services/Event Rentals (Tents, Furniture, Decor)
NAICS code1 code
  • Arts, Entertainment, and Recreation71
SIC code1 code
  • Services-Amusement & Recreation Services7900
Product category
Event Management Services
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Event Management and Decor Services
TypeProfessional Services
Description

Revenue generated from providing comprehensive event management and decor services including pre-wedding events, theme weddings, corporate events, religious events, property decor, lights decor, and catering. Services are provided to individual clients (primarily weddings) and corporate clients in India.

simplywall.st
Marketing channels2 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels2 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components4 values
Personnel, Operations, Marketing or Sales, Supply Chain
GTM typeB2B and B2C
B2B and B2C
Offering typeServices
Services
Core offering1 text field

Shangar Décor provides end-to-end event management and decoration services based in Ahmedabad, covering pre-wedding decor (Engagement, Mehendi, Sangeet, Garba, Haldi), theme weddings, corporate events, religious events, property decor, lights decor, and catering. The company physically executes these services on-site at party plots, hotels, and client-specified venues using an in-house team of artists and technicians, serving both individual wedding clients and corporate clients in Gujarat, India.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 4 values shown
  • 82.3% earnings growth with 6.3% net profit margin
+3 more records
Product overview1 text field

Shangar Decor is an Ahmedabad-based event management and decoration company established in 1995 with 40+ years of industry experience. The company operates as a unified service offering, providing end-to-end event solutions including Pre-Wedding Decor (Engagement, Mehendi, Sangeet, Garba, Haldi), Corporate Events Decor, Religious Event Services, Lights Decor, Theme Wedding, Property Decor, and Catering Services. The company serves clients across various event types and has completed 80+ successful events with 200+ trusted corporate clients. Services range from pre-wedding functions to corporate events and religious gatherings.

Product and service7 records
1Pre-Wedding Decor
CategoryEvent Management Services
Description

Decoration services for Indian pre-wedding functions including Engagement, Mehendi, Sangeet, Garba, and Haldi events, targeted at families and individuals hosting weddings.

2Corporate Events Decor
CategoryEvent Management Services
Description

Full-service corporate event decoration for conferences, exhibitions, trade shows, seminars, convocations, and state/national-level events, designed to help businesses expand networks and make lasting impressions on clients.

3Religious Event Decor
CategoryEvent Management Services
Description

Top-class decoration services for various religious events and activities, catering to families and communities hosting traditional ceremonies.

4Lights Decor
CategoryEvent Management Services
Description

Lighting decoration services for family gatherings, corporate events, birthdays, and wedding events, addressing the visual impact of lighting on guests.

5Theme Wedding
CategoryEvent Management Services
Description

Theme-based wedding decoration services for couples and families seeking customized, concept-driven wedding designs.

6Property Decor
CategoryEvent Management Services
Description

Property decoration services for event venues and properties, providing on-site decor transformation.

7Catering Services
CategoryEvent Management Services
Description

Catering services offered alongside decoration as part of full-service event delivery for weddings, corporate, and personal events.

Scale indicator6 records

Each record includes

Type, Value, Description, Source

Recent move4 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers8 records
TypeDirect peer
Description

India's leading wedding planning platform with vendor listings, inspiration content, and venue discovery. Comparable to Shangar in the Indian wedding planning and decor category, competing for the same end customer via a content-plus-marketplace approach.

TypeDirect peer
Description

Indian wedding planning marketplace connecting couples with vendors and venues. Comparable to Shangar in the Indian wedding services category, though differentiated by a digital marketplace and content-led lead-gen model versus Shangar's hands-on regional execution.

TypeDirect peer
Description

Indian online marketplace and event management platform aggregating wedding venues, decor and vendors across India. Directly comparable to Shangar in the wedding planning and decoration category, with overlap on Indian wedding services but operating a digital aggregator model rather than in-house delivery.

TypeRegional player
Description

India-based event management agency with strong wedding and social event portfolio. Comparable to Shangar in wedding and social event execution, though more focused on Delhi/North India versus Shangar's Gujarat base.

TypeBroad incumbent
Description

India's largest omni-channel flowers, gifting and event decor brand with pan-India retail and a dedicated wedding/event services arm. Comparable to Shangar as a full-service Indian event decoration and gifting provider, though at meaningfully larger scale and broader geographic reach.

TypeBroad incumbent
Description

Large Indian experiential marketing and event management conglomerate with divisions across live events, brand activation and entertainment. Comparable as a broad player in Indian event management, although its scale and portfolio (sports, entertainment, advertising) are far wider than Shangar's regional wedding and corporate decor focus.

TypeDirect peer
Description

India-based event management company specializing in corporate events, weddings and large-format conferences. Comparable to Shangar in scope of services (wedding, corporate, MICE), with a broader geographic footprint and stronger B2B positioning.

872 Degrees Event Company
TypeDirect peer
Description

Indian corporate event management firm serving enterprise clients with conferences, product launches and themed events. Comparable to Shangar on the corporate events decor leg, though differentiated by enterprise MICE focus versus Shangar's wedding-heavy mix.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles5 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Shangar Decor

Event Management Servicesshangardecor.com

Shangar Décor Limited is an Ahmedabad-based event management and decor company, founded in 1995, providing wedding, corporate, religious, property, lighting, and catering decor services to individual and corporate clients across Gujarat, India, and listed on the BSE.

What Shangar Decor does

Shangar Décor Limited is an Ahmedabad, Gujarat-based event management and decoration company founded in 1995 by Mr. Samir Shah and listed on the Bombay Stock Exchange (scrip code 540259, classified as a penny stock). The company provides end-to-end event decor services across seven primary service lines: pre-wedding functions (Engagement, Mehendi, Sangeet, Garba, Haldi), theme weddings, corporate events, religious events, property decor, lights decor, and catering. It serves two principal customer segments — individual wedding clients (primary) and corporate clients seeking event management for conferences, exhibitions, trade shows, and convocations — both within Gujarat and the broader Indian market. The company claims 200+ trusted-company relationships, 80+ successful events, and 30+ party plots managed, with founder Samir Shah holding 40+ years of industry experience and association leadership roles in the Gujarat and Ahmedabad decorator communities.

The business operates on a professional-services, quote-based revenue model with no publicly disclosed pricing, no proprietary technology platform, and no software/app product surface. Go-to-market is direct: a corporate website with investor disclosures, plus phone and email booking channels, with all services delivered on-site at Ahmedabad-area party plots, hotels, and client-specified venues. The management team is family-led (Samir Shah as Chairman & MD, with Moulin Shah and Saumil Shah as Directors, each with 18+ years of experience), supported by 11–50 employees consisting of skilled artists and technicians, and was recently augmented by two Independent Directors appointed at a June 2026 EGM. Distribution is regional rather than national, and there is no evidence of international operations.

Financially, revenue scaled from ₹96.5M in 2023 to ₹232.6M (approximately $2.8M USD) in 2026, with EBITDA of ₹53.4M and net income of ₹14.7M (a 6.3% net margin), and 82.3% earnings growth in the most recent reporting period. Ownership is widely dispersed public (97.06% public shareholders, 2.94% promoter group across six individuals). The company conducted a Right Issue in 2024, and recent governance disclosures include the July 2026 resignation of the Company Secretary. There are no documented acquisitions, partnerships, or patents.

Shangar Decor firmographics

Firmographics
Name
Shangar Decor
Legal name
Shangar Décor Limited
Website
https://shangardecor.com
Company type
Public
Founded year
1995
Operating status
Operating
Headcount range
1–10 employees
Short description
Shangar Décor Limited is an Ahmedabad-based event management and decor company, founded in 1995, providing wedding, corporate, religious, property, lighting, and catering decor services to individual and corporate clients across Gujarat, India, and listed on the BSE.
Ownership category
akta.pro rank

Shangar Decor industry classification

Industry
Product category
Event Management Services
NAICS
Arts, Entertainment, and Recreation (71)
SIC
Services-Amusement & Recreation Services (7900)
akta.pro industry
PRIMARYHSACABAA
Full-Service Wedding Planning
SECONDARYHSACABAH
Wedding Design, Decor & Floral Planning
SECONDARYHSACAFAK
Decor Props & Themed Set Rentals
Home & Personal Services/Event & Personal Concierge Services/Event Rentals (Tents, Furniture, Decor)
SECONDARYHSACAOAF
Event Tablescapes & Centerpiece Styling
Home & Personal Services/Event & Personal Concierge Services/Event Decor, Floral & Styling Services
SECONDARYHSACAFAD
Dance Floor, Staging & Platform Rentals
Home & Personal Services/Event & Personal Concierge Services/Event Rentals (Tents, Furniture, Decor)
SECONDARYHSACAFAA
Tent & Canopy Rentals
Home & Personal Services/Event & Personal Concierge Services/Event Rentals (Tents, Furniture, Decor)

Keywords

  • Event management services
  • Wedding decor services
  • Corporate event planning
  • Lights decor services
  • Catering services

Where Shangar Decor is headquartered

Location

Headquarters

HQ city
Ahmadabad
HQ country
India
HQ region
Asia

Offices1 record

Markets served

Shangar Decor business model

Business model
GTM type
B2B and B2C
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

  1. Event Management and Decor Services: Revenue generated from providing comprehensive event management and decor services including pre-wedding events, theme weddings, corporate events, religious events, property decor, lights decor, and catering. Services are provided to individual clients (primarily weddings) and corporate clients in India.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Shangar Decor product offering

Product offering

Core offering

Shangar Décor provides end-to-end event management and decoration services based in Ahmedabad, covering pre-wedding decor (Engagement, Mehendi, Sangeet, Garba, Haldi), theme weddings, corporate events, religious events, property decor, lights decor, and catering. The company physically executes these services on-site at party plots, hotels, and client-specified venues using an in-house team of artists and technicians, serving both individual wedding clients and corporate clients in Gujarat, India.

Product overview

Shangar Decor is an Ahmedabad-based event management and decoration company established in 1995 with 40+ years of industry experience. The company operates as a unified service offering, providing end-to-end event solutions including Pre-Wedding Decor (Engagement, Mehendi, Sangeet, Garba, Haldi), Corporate Events Decor, Religious Event Services, Lights Decor, Theme Wedding, Property Decor, and Catering Services. The company serves clients across various event types and has completed 80+ successful events with 200+ trusted corporate clients. Services range from pre-wedding functions to corporate events and religious gatherings.

Differentiator

Problem solved

Functional benefit

Products and services

  • Pre-Wedding Decor Decoration services for Indian pre-wedding functions including Engagement, Mehendi, Sangeet, Garba, and Haldi events, targeted at families and individuals hosting weddings.
  • Corporate Events Decor Full-service corporate event decoration for conferences, exhibitions, trade shows, seminars, convocations, and state/national-level events, designed to help businesses expand networks and make lasting impressions on clients.
  • Religious Event Decor Top-class decoration services for various religious events and activities, catering to families and communities hosting traditional ceremonies.
  • Lights Decor Lighting decoration services for family gatherings, corporate events, birthdays, and wedding events, addressing the visual impact of lighting on guests.
  • Theme Wedding Theme-based wedding decoration services for couples and families seeking customized, concept-driven wedding designs.
  • Property Decor Property decoration services for event venues and properties, providing on-site decor transformation.
  • Catering Services Catering services offered alongside decoration as part of full-service event delivery for weddings, corporate, and personal events.

Quantifiable outcome

  • 82.3% earnings growth with 6.3% net profit margin
  • +3 more outcomes

Companies that use Shangar Decor

Customer profile

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Shangar Decor technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Shangar Decor partnerships and signals

Strategic signal

Scale indicators6 records

Recent moves4 records

Expansion highlights4 records

Shangar Decor competitors and assessment

Company assessment

Direct peers

  • WedMeGood: India's leading wedding planning platform with vendor listings, inspiration content, and venue discovery. Comparable to Shangar in the Indian wedding planning and decor category, competing for the same end customer via a content-plus-marketplace approach.
  • ShaadiSaga: Indian wedding planning marketplace connecting couples with vendors and venues. Comparable to Shangar in the Indian wedding services category, though differentiated by a digital marketplace and content-led lead-gen model versus Shangar's hands-on regional execution.
  • Weddingz.in: Indian online marketplace and event management platform aggregating wedding venues, decor and vendors across India. Directly comparable to Shangar in the wedding planning and decoration category, with overlap on Indian wedding services but operating a digital aggregator model rather than in-house delivery.
  • Showtime Events: India-based event management company specializing in corporate events, weddings and large-format conferences. Comparable to Shangar in scope of services (wedding, corporate, MICE), with a broader geographic footprint and stronger B2B positioning.
  • 72 Degrees Event Company: Indian corporate event management firm serving enterprise clients with conferences, product launches and themed events. Comparable to Shangar on the corporate events decor leg, though differentiated by enterprise MICE focus versus Shangar's wedding-heavy mix.

Regional players

  • WOW Events: India-based event management agency with strong wedding and social event portfolio. Comparable to Shangar in wedding and social event execution, though more focused on Delhi/North India versus Shangar's Gujarat base.

Broad incumbents

  • Ferns N Petals: India's largest omni-channel flowers, gifting and event decor brand with pan-India retail and a dedicated wedding/event services arm. Comparable to Shangar as a full-service Indian event decoration and gifting provider, though at meaningfully larger scale and broader geographic reach.
  • Percept Limited: Large Indian experiential marketing and event management conglomerate with divisions across live events, brand activation and entertainment. Comparable as a broad player in Indian event management, although its scale and portfolio (sports, entertainment, advertising) are far wider than Shangar's regional wedding and corporate decor focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Shangar Decor social profiles

Digital presence

Shangar Decor financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Shangar Decor leadership team

Management profile

Number of profiles

Profiles5 records

Shangar Decor funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Shangar Decor M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shangar Decor

What does Shangar Decor do?

Shangar Décor provides end-to-end event management and decoration services based in Ahmedabad, covering pre-wedding decor (Engagement, Mehendi, Sangeet, Garba, Haldi), theme weddings, corporate events, religious events, property decor, lights decor, and catering. The company physically executes these services on-site at party plots, hotels, and client-specified venues using an in-house team of artists and technicians, serving both individual wedding clients and corporate clients in Gujarat, India.

Is Shangar Decor a public or private company?

Shangar Decor is a public company. It is classified as public and is currently operating.

When was Shangar Decor founded?

Shangar Decor was founded in 1995. It employs 1 to 10 people.

Where is Shangar Decor based?

Shangar Decor is headquartered in Ahmadabad, India, in the Asia region.

How does Shangar Decor make money?

One revenue line is on record: event Management and Decor Services.

Who are Shangar Decor's main competitors?

Direct peers on record are WedMeGood, ShaadiSaga, Weddingz.in, Showtime Events and 72 Degrees Event Company. WOW Events is listed as a regional player. Broad incumbents are Ferns N Petals and Percept Limited.

Does Shangar Decor have an API?

No public API is recorded for Shangar Decor.

What industry is Shangar Decor in?

Shangar Decor's product category is Event Management Services. Its primary akta.pro industry code is HSACABAA, Full-Service Wedding Planning, with a secondary code of HSACABAH, Wedding Design, Decor & Floral Planning. Its NAICS code is 71 and its SIC code is 7900.

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Live signals
ScanXShangar Decor Q2FY27 Results: Net profit up 541% YoY to ₹1.05 croreShangar Decor reported Q2FY27 net profit of ₹1.05 crore, up 541% year-on-year, with revenue from operations rising 302% to ₹10.84 crore. Depreciation expenses jumped to ₹177.42 lakh, and non-current loans surged to ₹10.48 crore. Auditors flagged pending verification of trade receivables and payables.Simply Wall St3 Indian Penny Stocks For September 2026Three Indian penny stocks—Swasti Vinayaka Synthetics, Swasti Vinayaka Art and Heritage, and Shangar Décor—are highlighted for their financial discipline. Swasti Vinayaka Synthetics reports 62.2% earnings growth and a 10.5% profit margin, while Shangar Décor shows 143.7% earnings growth and 7.8% net margins. The article notes external borrowing could affect margins if contract demand wobbles.Simply Wall St3 Indian Penny Stocks With P E Under 8Three Indian penny stocks with P/E under 8 are profiled: Spacenet Enterprises India, Swasti Vinayaka Art and Heritage, and Shangar Décor. Their financial metrics include P/E ratios of 7.5x, 6.1x, and 5.3x, with net margins of 13.2%, 19.1%, and 7.8% respectively. The article notes unresolved funding pressures for each company.ScanXShangar Decor FY26 Results: Net profit up 82% to ₹147.46 lakhShangar Decor reported a net profit of ₹147.46 lakh for FY26, up 82% year-on-year, with revenue from operations rising 25% to ₹2,326.07 lakh. Depreciation expenses more than doubled to ₹320.24 lakh, and auditors raised concerns over unverified trade receivables and payables. No dividend was declared for the year.ScanXShangar Decor schedules AGM for Sep 30 to approve FY26 accountsShangar Decor scheduled its 31st AGM for September 30, 2026, via video conferencing to adopt FY25-26 accounts and reappoint two non-executive directors. Remote e-voting runs September 27-29, with voting eligibility cut-off September 25. The board approved the notice and directors' report on September 8.Simply Wall St3 Indian Penny Stocks With Positive Earnings And Low P E RatiosA Simply Wall St article highlights three Indian penny stocks screened by its Financially Fit screener, which filters for lower-priced stocks with stronger balance sheets. Spacenet Enterprises India, Swasti Vinayaka Art and Heritage and Shangar Décor are described with earnings, margins, market caps and P/E ratios of 7.5x, 6.1x and 6.1x respectively. The article notes funding reliance on external borrowing and volatility, and says the screener found 117 more companies.Business StandardShangar Decor standalone net profit rises 475.00% in the June 2026 quarterShangar Decor reported a 475% increase in net profit to Rs 0.69 crore for the quarter ended June 2026, compared to Rs 0.12 crore in the same period of the previous year. Sales revenue also surged by 119.09% to Rs 5.28 crore during this period.Simply Wall StProfitable Indian Penny Stocks Retail Investors May Be MissingThis article from Simply Wall St presents three penny stocks identified through a financial screener focused on smaller companies with stronger balance sheets and share prices under 5. The featured stocks are Swasti Vinayaka Synthetics (textile manufacturer with FY2026 revenue of ₹338.7m and 25.9% earnings growth), MPF Systems (clean energy company with FY2026 revenue of ₹44.6m and 111.8% ROE), and Shangar Décor (event management firm with ₹232.7m revenue and 82.3% earnings growth). The article highlights investment potential alongside risk factors including heavy reliance on external borrowings, limited board independence, and governance concerns across all three companies.Simply Wall St3 Indian Penny Stocks With Positive Earnings That Look CheapThis Simply Wall St article profiles three Indian penny stocks—Swasti Vinayaka Synthetics, Swasti Vinayaka Art and Heritage, and Shangar Décor—screened for positive earnings and low valuation metrics despite trading below INR 5. Swasti Vinayaka Synthetics shows 25.9% earnings growth with a P/E of 10.9x, Swasti Vinayaka Art and Heritage demonstrates 14.1% long-run earnings growth with 18.3% net profit margins and a P/E of 5.6x, while Shangar Décor posted 82.3% earnings growth and a Q4 swing to profit. The article frames these as value opportunities for investors seeking higher-risk, disciplined entry points, though all three carry elevated balance sheet risks from reliance on external borrowing.ScanXShangar Decor accepts resignation of Company SecretaryShangar Decor Ltd accepted the resignation of Mrs. Shagun Rathi as Company Secretary and Compliance Officer, effective July 13, 2026, citing personal reasons. The Board acknowledged the resignation and the details were disclosed to BSE pursuant to SEBI regulations. This represents a routine corporate governance update regarding a mid-level compliance function change.