With reference to the above-mentioned subject and pursuant to Regulation 30 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) ....
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Kanel Industries reported a net loss of Rs 47.93 Lakhs for FY2026 ended March 31, 2026, compared to a loss of Rs 5.60 Lakhs in FY2025, indicating a significant deterioration in profitability. The company has negative reserves of Rs 32.17 Lakhs (down from positive Rs 15.76 Lakhs) and negative operating cash flows of Rs 29.36 Lakhs. The statutory auditor N.S. Nanavati & Co. issued an unmodified (clean) opinion on the financial statements. Company Secretary Naresh Vasudevbhai Kanzariya tendered resignation effective May 20, 2026, to pursue opportunities outside the organisation. The company also announced closure of the trading window from April 1, 2026.
The company is currently loss-making with negative shareholder funds and negative operating cash flows, indicating significant financial stress. The clean audit opinion provides some comfort, but the worsening financial position and key management departure may concern investors.