Results - Financial Results September 30, 2025
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Kesar India Limited reported a sharp deterioration in H1 FY26 (April–September 2025) results. Standalone revenue from operations fell about 41% year-on-year to ₹2,981.44 lakh from ₹5,049.08 lakh, while profit after tax collapsed roughly 92% to ₹134.99 lakh from ₹1,601.56 lakh, with EPS dropping to ₹0.51 from ₹6.48. Finance costs more than doubled to ₹155.51 lakh and depreciation rose sharply, squeezing margins significantly compared to the prior year. Operating cash flow turned deeply negative at -₹4,863.08 lakh, though liquidity was supported by ₹6,724.99 lakh received from share warrants and new equity. The board also approved a token 10% acquisition in Nexa Infraspace Private Limited for just ₹10,000 and noted the resignation of Independent Director Ajay Pandey due to pre-occupation.
The steep drop in revenue and profit, combined with negative operating cash flow, signals serious operational weakness that is likely to weigh on the stock in the short term. The ₹273.72 crore preferential share/warrant issue provides near-term liquidity but also signals dilution risk, so shareholders should monitor whether the company can stabilize revenues and return to positive operating cash generation in H2 FY26.