SSH Group Cuts HP Debt by 37% to $12.8 Million and Appoints CFO Dipal Raithatha

Sonal Goyal

05 November 2026 03:14 PM AEDT

SSH Group Cuts HP Debt by 37% to $12.8 Million and Appoints CFO Dipal Raithatha

Image Source: Krish Capital Pty Ltd

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

SSH Group Ltd (ASX:SSH) has reduced its hire purchase debt by approximately $7.5 million, or 37%, to approximately $12.8 million as at 31 October 2026, while formally appointing Mr Dipal Raithatha as Chief Financial Officer, according to a company update released on 5 November 2026.

Key Points

HP debt reduced by approximately $7.5 million (37%) to approximately $12.8 million as at 31 October 2026, against a combined debt exposure of approximately $20.3 million.
Phase One of the Elphinstone Mechanical Services (EMS) integration completed, consolidating Perth-based operational and management teams and introducing refreshed branding.
SSH Mining continuing to progress a Mining Services Agreement with Cavalier Resources (ASX:CVR) for Stage 1 of the Crawford Gold Project near Leonora, Western Australia.
Mr Dipal Raithatha formally appointed as Chief Financial Officer, having joined the Group in November 2023 as Group Financial Controller.

Hire Purchase Debt Reduction and Fleet Details

SSH Group disclosed that its HP debt stood at approximately $16.7 million in October 2025. Following the acquisition of EMS in May 2026, the Group assumed an additional approximately $3.6 million in equipment finance obligations, bringing combined debt exposure to approximately $20.3 million before subsequent repayments. As at 31 October 2026, total HP debt had reduced to approximately $12.8 million. The Group's rental fleet comprises more than 250 mining and civil rental assets, together with an extensive range of attachments and secondary hire equipment supporting its industrial services operations.

EMS Integration and Crawford Gold Project Progress

Phase One of the EMS integration has been completed, consolidating Perth-based operational and management teams from EMS and KMH and introducing a refreshed brand identity incorporating the endorsement "An SSH Group Company." SSH Mining Australia has been selected as the preferred mining services contractor for Stage 1 of the Crawford Gold Project, located approximately 20 kilometres east of Leonora, Western Australia. The proposed scope covers mining services for the Stage 1 oxide pit, with active mining operations currently estimated to extend over approximately 12 months. The company said it continues to work with Cavalier Resources to finalise a binding agreement.

CFO Appointment and Mine Ownership Evaluations

SSH Group has formally appointed Mr Dipal Raithatha as Chief Financial Officer. Mr Raithatha joined the Group in November 2023 as Group Financial Controller and has held responsibilities equivalent to the CFO role for approximately the past 12 months, according to the filing. Separately, the Group disclosed it has undertaken detailed due diligence across multiple potential mining acquisitions in recent months, including commercial discussions with project owners. The filing states that none of these transactions are currently being pursued, and that the Group's primary focus remains on identifying near-term production assets and opportunities involving the potential restart of existing mining operations.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.