Outcome of Board Meeting for approval of Unaudited Financial Result
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The Board of Kanel Industries approved its unaudited financial results for the quarter and half year ended September 30, 2025. The company reported zero revenue from operations, with only Rs 2.93 lakhs of other income in H1 FY26. Total expenses surged dramatically to Rs 44.22 lakhs in H1 FY26 from just Rs 1.03 lakhs in H1 FY25, driving a loss before tax of Rs 41.29 lakhs versus Rs 5.60 lakhs for the entire FY25. The statutory auditor, N.S. Nanavati & Co., issued an unqualified limited review report. The balance sheet shows total assets of Rs 1,572.28 lakhs, but other equity has turned negative at Rs -25.53 lakhs, and operating cash flow remained negative at Rs -23.62 lakhs.
Sharply widening losses with no operating revenue and a negative net worth position signal serious financial distress. Shareholders should be cautious — the company is burning cash without a visible path to operational profitability.