Disclosure of Standalone and Consolidated Financial Results of the Company for the quarter ended 30.06.2025 along with Independent Auditor''s Limited Review
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Kandagiri Spinning Mills reported standalone revenue from operations of Rs. 62.15 lakhs for Q1 FY26 (ended June 30, 2025), up sharply from Rs. 10.65 lakhs in the year-ago quarter. However, total expenses ballooned to Rs. 181.01 lakhs, driven mainly by a one-time employee benefit expense of Rs. 64.90 lakhs (including final gratuity settlement) and finance costs of Rs. 41.66 lakhs. The company swung to a standalone loss before tax of Rs. 118.82 lakhs versus a Rs. 37.70 lakh loss in Q1 FY25. On a consolidated basis (including associate SPMM HealthCare Services), the loss was Rs. 116.28 lakhs. Other equity remains deeply negative at Rs. (1,111.10) lakhs on a standalone basis, indicating full erosion of net worth. The statutory auditor, Krishnen & Associates, issued a qualified opinion on both sets of results, flagging material uncertainty about the company's ability to continue as a going concern. Management stated promoters are infusing additional funds and assured continued support.
Negative for shareholders — persistent losses, fully eroded net worth, and a qualified audit opinion with a going-concern flag raise serious solvency concerns. Promoter funding support is the key mitigating factor; absent continued infusion, the stock carries heightened downside risk.