Kaveri Seed Company Limited has informed the Exchange regarding Board meeting held on May 19, 2025.
KSCL · price
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On the reaction day the stock moved 2.4 pts more than Nifty Microcap 250 and 3.0 pts more than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Kaveri Seed Company reported FY25 audited results with standalone revenue declining about 4% to Rs. 1,121.6 crores (from Rs. 1,170.1 crores) and net profit falling roughly 10.9% to Rs. 276.3 crores (from Rs. 310.2 crores), partly weighed down by a Rs. 25.7 crores exceptional charge. The board approved acquiring the remaining 30% stake in Aditya Agritech Private Limited, making it a 100% wholly-owned subsidiary to strengthen operational synergies and market reach. The auditor issued an unmodified opinion on standalone results but flagged a Material Uncertainty Related to Going Concern for one subsidiary (Aditya Agritech) with negative net worth of Rs. 4.9 crores and current liabilities exceeding current assets by Rs. 5.2 crores. The company disclosed a Rs. 69.6 crores income tax demand for AY 2023-24 disallowing agriculture income exemption, which it is appealing. Operating cash flow roughly halved to Rs. 180.1 crores from Rs. 347.4 crores, and the company also executed a buyback during the year.
Mixed for shareholders - weaker top-line and profits with an exceptional item drag, but the full acquisition of Aditya Agritech gives tighter control over a subsidiary. The Rs. 69.6 crores tax demand is a meaningful contingent liability that could hit earnings if the appeal fails. The going concern flag is limited to a small subsidiary and not material to the group as a whole.