The Board of Directors at their meeting held on 15.05.2025 recommended to shareholders the appointment / re-appointment of Shri D J Shah (as Director), Dr. Narendra Mairpady (as Independent ....
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Kesar Enterprises reported audited FY25 results showing a sharp deterioration: revenue from operations fell to Rs 33,396.97 lakhs from Rs 53,105.61 lakhs in FY24, and the company swung from a net profit of Rs 8,358.80 lakhs to a net loss of Rs 7,262.40 lakhs. Loss per share for FY25 was Rs (72.05) compared to earnings of Rs 82.93 last year. The board flagged that the company's entire net worth has been eroded due to high sugarcane prices and weak sugar realisations, and the statutory auditor noted a material uncertainty related to going concern. The board also re-appointed Harsh R Kilachand as Chairman & Managing Director for 3 years, re-appointed Devendra J Shah as Director, and re-appointed Dr. Narendra Mairpady as Independent Director for a second 5-year term. Additionally, M/s. Chandabhoy & Jassoobhoy were recommended as new statutory auditors for a 5-year term replacing V C Shah & Co, subject to shareholder approval at the 90th AGM.
This is a materially negative filing – the company has fully eroded its net worth, posted a large annual loss, and carries a going-concern qualification from auditors, though management is banking on monetising non-operating assets and government policy support to recover. Shareholders face dilution or restructuring risk and should track the asset-sale plan and the September AGM outcomes closely.