Outcome of Board Meeting
Price
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Kesar India Limited's board approved audited standalone and consolidated financial results for the half year and full year ended March 31, 2025, along with auditor re-appointments. On a standalone basis, revenue from operations jumped to ₹8,066.38 lakhs from ₹5,263.30 lakhs (up ~53%), and profit after tax rose to ₹1,852.46 lakhs from ₹1,007.04 lakhs (up ~84%). On a consolidated basis (including Middle East and other subsidiaries), revenue nearly doubled to ₹10,779.06 lakhs and PAT grew ~79% to ₹1,936.13 lakhs. However, operating cash flow turned sharply negative — standalone at –₹998.61 lakhs versus +₹916.55 lakhs last year — largely due to unfavorable working capital changes. From October 1, 2024, share trading transactions were reclassified from investments into operating revenue, which partly boosts top-line comparability. Statutory auditors issued an unmodified opinion on both standalone and consolidated results.
Strong headline profit growth is positive for shareholders, but the negative operating cash flow and a change in how share-trading income is reported raise questions about the quality of earnings. Investors should watch for sustained cash collection and clarity on the recurring versus trading nature of revenues before drawing long-term conclusions.