Audited Financial Result for the Quarter and Year ended 31.03.2025
Awaiting price reaction for this filing.
Kundan Minerals and Metals (formerly Eastern Sugar & Industries) reported audited results for FY25 with statutory auditor Ashwani & Associates issuing an unmodified (clean) opinion on both standalone and consolidated numbers. Standalone revenue from operations surged to about Rs 3,95,608 lakhs in FY25 from a much smaller base in FY24, while standalone profit after tax swung to Rs 12,580 lakhs versus a loss of Rs 5,274 lakhs in FY24. Consolidated PAT also turned positive at Rs 12,794 lakhs against a restated loss of Rs 6,295 lakhs in FY24. The dramatic turnaround is largely because the company acquired 100% of Kundan Concentrates Pvt Ltd in Jan 2025 as a common-control transaction, with results consolidated retrospectively from October 2023, which also led to restatement of FY24 figures. The company also acquired a 49% stake in Kundan Gold Mines and set up a Dubai subsidiary (Kundan Venture FZCO).
For shareholders, the headline shift from loss to profit is driven mainly by the consolidation of the newly acquired subsidiary rather than pure organic growth, so investors should look closely at underlying segment trends. The clean audit opinion and entry into precious metals trading (silver/gold) mark a fresh start after the sugar legacy, but rising borrowings (current borrowings jumped to Rs 9,060 lakhs consolidated vs Rs 689 lakhs earlier) signal higher leverage.