Audited Financial Results for the quarter and year ended 31.03.2025
Awaiting price reaction for this filing.
Kundan Minerals and Metals Ltd (formerly Eastern Sugar & Industries) reported audited results showing a major turnaround in FY25. Standalone revenue from operations surged to ₹3,95,608 lakhs (~₹3,956 crores) and profit after tax swung to ₹12,580 lakhs (~₹126 crores), compared to a loss of ₹5,274 lakhs in FY24. EPS improved to ₹20.80 from ₹(8.72). FY24 figures have been restated due to a common-control acquisition. During the quarter, the company acquired 100% of Kundan Concentrates Pvt Ltd, took a 49% stake in Kundan Gold Mines Pvt Ltd (accounted as associate), and incorporated a new foreign subsidiary, Kundan Venture FZCO, in Dubai. The audit opinion from Ashwani & Associates is clean/unqualified. Related party transactions dominate the business — purchases of ₹3,95,608 lakhs from related entity Kundan Refinery Pvt Ltd alone equal nearly the entire standalone revenue.
The swing from a ₹52 crore loss to a ₹126 crore profit is a strong positive for shareholders, but the business appears almost entirely dependent on purchases from a single related party (Kundan Refinery), which raises questions about revenue sustainability and pricing independence. Investors should weigh the headline turnaround against this concentration risk.