Revised Limited Review Report with UDIN for the quarter and nine months ended December 31, 2025
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Kalind Ltd resubmitted its Q3 FY26 (Oct-Dec 2025) Limited Review Report with the UDIN number, which was earlier filed without it due to an ICAI portal outage. There is no change to the underlying financial numbers. The auditor issued a Qualified Conclusion because management did not provide adequate reconciliation linking machinery taken on hire from third parties, machinery deployed at customer sites, and the hire income/charges booked in the books. On the numbers, standalone revenue from operations jumped to Rs 1,490.79 lakh in Q3 (vs nearly nil a year ago), with 9-month revenue at Rs 4,504.62 lakh vs Rs 0.04 lakh last year. Standalone net profit for 9M was Rs 1,651.99 lakh (vs a Rs 35.88 lakh loss) and EPS was Rs 3.24. Consolidated 9M revenue was Rs 4,673.16 lakh with net profit of Rs 1,223.05 lakh, including the newly-acquired subsidiary Prasad Earth Movers.
Results show a dramatic business turnaround versus FY25 when revenue was virtually zero, but the auditor's qualification over unreconciled hire-machinery accounting is a red flag that may concern investors about the reliability of reported earnings. Watch for management's response and supporting records in the upcoming full-year audit.