Kalyani Forge Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
KALYANIFRG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kalyani Forge Limited reported total income of Rs 23,822 lakhs for FY26, slightly down from Rs 23,915 lakhs in FY25 (revenue from operations declined ~0.8% to Rs 23,464 lakhs). Profit after tax grew 11% to Rs 932 lakhs versus Rs 838 lakhs in the prior year, driven by higher other income and controlled finance costs. The Board recommended a dividend of Rs 4 per share (40%) subject to shareholder approval. Critically, statutory auditors issued a DISCLAIMER of opinion for the 3rd consecutive year, citing: incomplete stock valuation methodology, unconfirmed trade receivables/payables/bank balances, GST reconciliation issues, and inadequate internal financial control documentation. The auditors could not obtain sufficient appropriate audit evidence to form an opinion.
The disclaimer of opinion is a serious red flag for investors as it indicates fundamental weaknesses in financial controls and record-keeping. While PAT showed modest growth, the audit qualification raises concerns about the reliability of reported figures. The stock may face selling pressure due to governance concerns despite the dividend announcement.