Unaudited Financial Results (consolidated and Standalone) Financial Results of the Company for the quarter/year ended 30.09.2025 along with Independent Auditor''s limited review report
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Awaiting price reaction for this filing.
Kandagiri Spinning Mills reported unaudited results for Q2 FY26 with revenue from operations of Rs. 63.33 lakhs, up about 28% from Rs. 49.62 lakhs in the same quarter last year. However, the company swung to a loss before tax of Rs. 63.21 lakhs (standalone), wider than the Rs. 38.09 lakh loss in Q2 FY25. For the half-year, revenue more than doubled to Rs. 125.48 lakhs but losses deepened sharply to Rs. 182.04 lakhs. The company is now solely doing yarn trading business. Net worth is fully eroded, standing at negative Rs. 907.40 lakhs (standalone) with long-term borrowings of Rs. 1,964 lakhs, leading to an effective debt-to-equity position that is very stretched. The statutory auditor (SSAL & Associates) issued a qualified conclusion on both standalone and consolidated results, flagging material uncertainty about the company's ability to continue as a going concern.
This is a significant red flag for shareholders — the company is loss-making, net worth is wiped out, finance costs (Rs. 85.38 lakhs in H1) far exceed operating income, and auditors have qualified the results with a going-concern warning. While promoters have pledged continued fund support, the stock carries serious solvency and continuity risk; expect negative price reaction and heightened scrutiny.