Board Meeting Outcome for Approval of Audited Financial Results for Quarter and Financial year ended 31st March 2026
Awaiting price reaction for this filing.
D S Kulkarni Developers Ltd reported a net loss of Rs. 36.45 lakhs for FY 2025-26 compared to a profit of Rs. 1,311.69 lakhs in the previous year. Total income dropped sharply to Rs. 5,617.32 lakhs from Rs. 13,315.25 lakhs in FY 2024-25, a decline of about 58%. Revenue from operations fell to zero from Rs. 7,550 lakhs. Finance costs of Rs. 5,613.14 lakhs nearly matched total income. The company's negative equity stands at Rs. 13,879.12 lakhs. The company is also under a Corporate Insolvency Resolution Process post-acquisition by a resolution applicant in 2023. Auditors issued an unmodified opinion. Related party transactions worth approximately Rs. 8,808 lakhs were disclosed, involving inter-corporate deposits with group companies at interest rates of 15-22%. The Board is yet to form an Audit Committee as Independent Directors are still being appointed.
The company is facing severe financial distress with near-zero revenue, mounting losses, negative equity, and heavy finance costs. Shareholders should be cautious as the stock carries high risk given the operational collapse and ongoing insolvency proceedings.