Outcome of Board Meeting - Disclosure of Financial Results (Consolidated and Standalone) 31.12.2025 and Deatils of Board approval for sale of shares of Associate Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Kandagiri Spinning Mills approved (i) unaudited consolidated and standalone financial results for Q3 and nine months ended 31 December 2025, and (ii) sale of its entire 20,00,000 equity shares in associate company SPMM Health Care Services Pvt Ltd. Standalone Q3 revenue was just Rs 6.93 lakhs (vs Rs 63.33 lakhs in Q2) with a loss before tax of Rs 68.16 lakhs; nine-month loss before tax widened to Rs 250.21 lakhs from Rs 130.21 lakhs a year ago. The company's other equity stands at a negative Rs 1,111.10 lakhs, indicating complete net worth erosion, and the auditor issued a qualified opinion flagging going concern uncertainty. The associate stake is being sold at Rs 11.44 per share for a total of Rs 2.288 crore to three unrelated buyers from Salem, with completion targeted before 31 March 2026.
Shareholders should note deteriorating operating performance and a qualified audit opinion on going concern, which are negative signals. However, the planned monetisation of the associate investment at a slight premium to attributable net worth provides a small cash inflow that may support working capital needs.