Outcome of Board Meeting for approval of Unaudited Financial Results.
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Kanel Industries' board approved unaudited standalone results for Q2 and H1 FY26 on November 7, 2025. The company reported zero revenue from operations across all periods, with only Rs. 2.93 lakhs of other income in H1 FY26 (vs Rs. 0.51 lakhs in FY25). Total expenses were Rs. 44.22 lakhs in H1 FY26, leading to a loss before and after tax of Rs. 41.29 lakhs (vs Rs. 1.03 lakh loss in H1 FY25). The standalone balance sheet shows other equity turning negative at Rs. (25.53) lakhs versus Rs. 15.76 lakhs as of March 2025. Operating cash flow was negative at Rs. (23.62) lakhs for H1 FY26 (Rs. (42.94) lakhs for FY25). The auditor (N.S. Nanavati & Co.) issued an unqualified limited review report with no qualifications or emphasis of matter.
The company is operationally inactive with no business revenue and is consistently burning cash, posting losses and slipping into negative reserves — a negative signal for shareholders regarding business viability and going-concern risk.