Approval of Audited Financial Results for FY 2026, Fixation of AGM date and Recommendation of Final Dividend for FY 2026.
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The board approved audited FY 2026 results with total income of Rs 3,637.83 lakhs (up from Rs 3,354.50 lakhs). Revenue from operations grew marginally to Rs 3,353.20 lakhs. The company reported a net loss of Rs 3,196.00 lakhs due to an exceptional item of Rs 3,648.83 lakhs — the loss on sale of its wholly-owned subsidiary Kesar Multimodal Logistics Limited (KMLL) to DP World Multimodal Logistics in September 2025. Before exceptional items, profit was Rs 452.83 lakhs. The auditors (Chandabhoy & Jassoobhoy) issued a qualified opinion due to unresolved litigation with Deendayal Port Trust regarding transfer fees and increased lease rentals for leasehold lands at Kandla, with the matter pending in the Supreme Court. The board recommended a final dividend of Rs 1.25 per share (25%) on face value of Rs 5, payable after shareholder approval at the July 22 AGM.
The net loss due to the KMLL sale exception is significant but non-cash in nature for the current year. The qualified audit opinion highlights ongoing legal uncertainty around the company's Kandla lease arrangements which could affect operations. However, the recommended dividend signals management's confidence in underlying business continuity.