Kalyani Forge Q2 FY26 results; auditor disclaims opinion on stock, IFC gaps

Qualified audit opinionRevenue declinedNegative operating cash flowResults View source PDF Explain this filing

KALYANIFRG · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-4.2%Reaction day

₹715.00

prior close

₹699.05

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-4.1% vs market

Castings & Forgings peers, median of 20sector-1.0%-3.2% vs sector

On the reaction day the stock moved 4.1 pts less than Nifty Microcap 250 and 3.2 pts less than its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.7

10m

-1.7

15m

-2.2

30m

-1.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-4.2-0.1-4.1-1.0-3.2

Next day

-1.8-0.2-1.6-0.4-1.4

+1.4+0.4+1.0-0.9+2.3

-2.9-0.4-2.5-1.3-1.6

-4.1-0.6-3.5-0.7-3.3

-7.1-0.9-6.3-1.4-5.8

-11.5-3.0-8.5-3.3-8.1

15d

-7.7-3.9-3.8-0.9-6.8

-7.7-4.8-2.9-2.6-5.1

-15.4-7.8-7.7-9.4-6.1

-7.0-7.2+0.3-4.3-2.7

UpDownMarket · Nifty Microcap 250Sector · Castings & Forgings peers, median of 20Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Kalyani Forge reported Q2 FY26 revenue of Rs 55.67 cr, down 10.7 percent YoY from Rs 62.33 cr. PAT fell sharply to around Rs 1.4 cr from about Rs 3.9 cr YoY. H1 FY26 PAT was about Rs 3.6 cr versus Rs 4.3 cr in H1 FY25. Operating cash flow turned negative at minus Rs 2.5 cr versus positive Rs 12.3 cr a year ago. Statutory auditor M.P. Chitale disclaimed its review opinion citing incomplete stock valuation methodology, unconfirmed trade balances, pending GST reconciliations, and gaps in internal financial controls documentation.

Likely market impact

Auditor disclaimer plus negative operating cash flow and sharp PAT decline raise serious concerns; stock may face pressure.