In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations'), this is to ....
Awaiting price reaction for this filing.
KSS Limited, which has been under Corporate Insolvency Resolution Process (CIRP) since January 2023, submitted unaudited financial results for Q3 FY26 through its Resolution Professional. The company's resolution plan was rejected by NCLT Mumbai in March 2025, and the RP has now filed an application seeking liquidation of the company, which is pending before the tribunal. On a standalone basis, the company reported a loss of Rs 15.49 lakhs in Q3 FY26, improving marginally from Rs 18.54 lakhs loss in the previous quarter, with revenue from operations flat at Rs 14.57 lakhs. On a consolidated basis, the loss narrowed to Rs 35.44 lakhs in Q3 FY26 from Rs 42.75 lakhs in Q2, though consolidated revenue declined to Rs 56.91 lakhs from Rs 73.11 lakhs. The auditor (Amit Ramakant & Co.) issued a Disclaimer of Conclusion on both standalone and consolidated results, citing inability to obtain sufficient evidence on subsidiary investments, outstanding advances, tax assets, unrecovered loans, and unaccrued bond interest. Several emphasis-of-matter notes highlight unresolved tax demands (Rs 5,943.54 lakhs disputed income tax, Rs 1,035.05 lakhs MVAT, Rs 734.06 lakhs customs), a Rs 12 crore SEBI penalty under appeal, and ongoing legal cases.
This filing reinforces that KSS Limited remains in severe financial distress with a strong likelihood of liquidation, making the stock highly risky for shareholders. The auditor's disclaimer, combined with trading suspension since November 2020, means investors should expect very limited liquidity and a high probability of significant loss of capital if liquidation proceeds.