Revised Outcome for Board Meeting held on November 13, 2025
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Karbonsteel Engineering Limited submitted a revised board meeting outcome on November 14, 2025, attaching the Balance Sheet and Cash Flow Statement that were inadvertently omitted from the original filing. The board approved unaudited standalone financial results for the half year ended September 30, 2025, showing revenue from operations of ₹13,970.28 lakh, down about 16.4% from ₹16,710.01 lakh in H1 FY25. Profit after tax slipped to ₹703.28 lakh (from ₹871.57 lakh), with EPS of ₹6.16 versus ₹7.85. The statutory auditor issued an Emphasis of Matter flagging unreceived balance confirmations for trade receivables and sundry creditors, an unpaid income tax liability of ₹403.23 lakh, and pending charge registration with the RoC for an ICICI Bank loan. Operating cash flow remained healthy at ₹1,324.26 lakh. The board also accepted the resignation of internal auditor Desai Bhansali & Associates LLP (citing 'preoccupation') and appointed M/s. Chintan D. Shah & Associates as the new internal auditor for FY 2025-26.
The double-digit revenue decline, falling profits, and auditor emphasis on pending confirmations and unpaid taxes may dampen near-term sentiment, even though operating cash flow stayed positive. The mid-year internal auditor change, justified only by 'preoccupation,' may draw governance scrutiny from shareholders.