Outcome of Board Meeting
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Kesar India Ltd's Board approved unaudited financial results for Q3FY26 (quarter ended Dec 31, 2025) and 9MFY26 on Feb 14, 2026, with a clean (unmodified) limited review report from auditor RHAD & Co. Standalone revenue from operations for the quarter jumped to Rs 91.60 crore (vs Rs 15.24 crore in Q2FY26 and Rs 15.80 crore in Q3FY25), driven by recognition of Rs 81 crore land sale revenue under Ind AS 115. Standalone profit after tax surged to Rs 16.78 crore in Q3 (vs Rs 0.99 crore in Q2 and Rs 2.30 crore in Q3FY25), with basic EPS of Rs 6.71. For 9MFY26, standalone revenue rose to Rs 121.42 crore (from Rs 66.29 crore) while PAT was largely flat at Rs 18.23 crore vs Rs 18.18 crore. The company allotted 77.33 lakh convertible warrants and 86,856 equity shares on a preferential basis (total issue size Rs 273.72 crore), with 45.35 lakh warrants still outstanding pending conversion.
The sharp Q3 earnings jump reflects timing of the Rs 115.72 crore land sale (with Rs 81 crore recognized now and balance pending title/approval due diligence), so sustainability depends on completion of these conditions. Pending warrant conversion could dilute existing shareholders. Overall tone is positive on growth, but investors should watch the receivable portion of the land deal.