Disclosure of Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter/half year ended 30.09.2025 along with Independent Auditor''s Limited Review Report
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Kandagiri Spinning Mills reported a standalone loss of Rs. 63.21 lakhs in Q2 FY26, widening from Rs. 38.09 lakhs in Q2 FY25; the H1 FY26 standalone loss stood at Rs. 182.04 lakhs versus Rs. 75.79 lakhs a year earlier. Revenue from operations grew about 28% year-on-year to Rs. 63.33 lakhs in Q2, but total expenses of Rs. 126.54 lakhs far outpaced revenue, driven mainly by finance costs of Rs. 43.72 lakhs (up from Rs. 26.24 lakhs) and employee costs of Rs. 64.90 lakhs. The company's other equity is deeply negative at Rs. (1,111.10) lakhs (standalone), indicating complete erosion of net worth. Statutory auditor SSAL & Associates issued a qualified opinion on both standalone and consolidated results, citing material uncertainty in the company's ability to continue as a going concern due to recurring losses and net worth erosion. The company continues yarn trading operations, with promoters pledging to infuse further funds as needed.
This is a significant negative signal for shareholders — the auditor has flagged a going-concern uncertainty and the company's net worth is fully eroded, making the stock risky despite the small revenue uptick. Investors should expect continued pressure on the share price and monitor promoter fund infusion closely.