Kalyani Forge Q3 results: PAT turns negative, auditor flags review concerns

Net loss reportedQualified audit opinionEmphasis of matterResults 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

+2.8%Reaction day

₹603.10

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+3.3% vs market

Castings & Forgings peers, median of 21sector-0.3%+3.0% vs sector

On the reaction day the stock moved 3.3 pts more than Nifty Microcap 250 and 3.0 pts more than its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+2.8-0.5+3.3-0.3+3.0

Next day

+10.3-2.0+12.2-1.7+12.0

+10.0-2.7+12.7-1.4+11.4

+9.2-1.7+10.9-0.4+9.6

+11.9-1.4+13.3-0.7+12.6

+10.8-2.8+13.6-1.8+12.5

+5.4-2.8+8.2-1.5+6.9

15d

+1.9-8.4+10.3-3.0+4.9

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+0.1-4.0+4.2-1.4+1.6

+5.8+2.6+3.1+1.0+4.8

UpDownMarket · Nifty Microcap 250Sector · Castings & Forgings peers, median of 21Pending

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

AI summary

Kalyani Forge Q3 FY26 standalone revenue was Rs 57.86 crore versus Rs 58.62 crore a year ago, turning to a loss of Rs 11.90 lakh from a profit of Rs 1.82 crore. Nine month PAT dropped to Rs 3.44 crore from Rs 6.09 crore. Auditor M.P. Chitale could not obtain sufficient evidence due to incomplete stock valuation methodology, pending reconciliations of payables, receivables and GST credits, and weak internal financial controls documentation. Board appointed Jagdish Baheti as new CFO effective February 11, 2026.

Likely market impact

Weak quarterly earnings and auditor's inability to conclude the review raise governance and disclosure red flags worth tracking closely.