The Board at their meeting held on 15.05.2025 recommended to shareholders, the appointment of Secretarial Auditors for a term of five years. The relevant disclosure is attached.
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Kesar Enterprises reported deeply negative audited results for FY25, with revenue from operations falling to ₹33,397 lakhs from ₹53,106 lakhs in FY24 (a ~37% decline) and a net loss of ₹7,262 lakhs versus a profit of ₹8,359 lakhs last year. Q4 FY25 alone saw a loss of ₹1,636 lakhs against a profit of ₹12,527 lakhs in Q4 FY24, and EPS turned to negative ₹72.05. The company noted that its entire net worth has been eroded due to high sugarcane prices and unviable sugar realisations, and the auditor flagged a 'Material Uncertainty Related to Going Concern,' though the opinion remains unmodified. Management is banking on better government sugarcane MSP, improved power tariffs, and monetisation of non-core real estate assets to restore operations. The board also recommended re-appointment of Harsh R Kilachand as CMD for 3 years, re-appointment of an Independent Director, and proposed new Statutory and Secretarial Auditors for 5-year terms.
This is a materially negative filing for shareholders — a swing from profit to loss, revenue halving, fully eroded net worth, and an auditor-flagged going concern risk all point to serious financial stress. However, the auditor's opinion is unmodified and the board is taking steps (auditor change, asset monetisation, government policy hopes), so near-term stock reaction will hinge on whether investors believe the going concern assumption is credible.