This is to inform you that the Board of Directors of the Company at their meeting held today, i.e. 25th November, 2025 have, inter-alia, approved and taken on record the Unaudited Financial ....
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Kesar Enterprises' board approved unaudited results for Q2 FY26, reporting revenue from operations of Rs 1,365.78 lakhs, down sharply from Rs 3,751.71 lakhs in Q2 FY25 — a fall of about 64% year-on-year. Half-yearly revenue fell to Rs 3,387.21 lakhs from Rs 10,700.50 lakhs, a drop of nearly 68%. The company posted a net loss of Rs 1,946.83 lakhs in Q2, taking the H1 FY26 loss to Rs 3,484.59 lakhs, with EPS of negative Rs 1.93. All three segments — Sugar, Cogen (power), and Spirits — remained in the red. The auditor (Chandabhoy & Jassoobhoy) issued an unmodified review report but drew attention to Note 2, which states the company's net worth has been completely wiped out due to sustained losses from high sugarcane costs and weak sugar prices, and that results are still prepared on a going-concern basis relying on government policy relief and sale of non-core immovable assets. The company also executed a stock split from Rs 10 to Re 1 during the quarter.
Despite the seasonal nature of the sugar business, the magnitude of the revenue decline and persistent losses are serious concerns. Complete erosion of net worth, negative operating cash flows, and dependence on government intervention and asset sales to stay afloat make this a high-risk situation for shareholders — short-term stock sentiment is likely to stay weak.