Kiri Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
KIRIINDUS · price
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Kiri Industries reported Q1FY26 standalone revenue of Rs. 180.76 crore, up 8% year-on-year, with EBITDA improving 27% YoY to Rs. 17.34 crore and EBITDA margins expanding to 9.6% from 7.2%. Standalone profit after tax turned positive at Rs. 7.19 crore versus a loss of Rs. 1.73 crore in Q1FY25, aided by a sharp jump in other income (dividend from Lonsen Kiri JV) which rose 140% YoY to Rs. 33.95 crore. Consolidated revenue grew 10% YoY to Rs. 202.12 crore, but consolidated profit after share of associates fell 88% YoY to Rs. 10.14 crore due to very high finance costs of Rs. 59.54 crore from borrowings at the Claronex subsidiary. The auditor issued an Emphasis of Matter regarding the ongoing DyStar dispute, noting a Share Purchase Agreement signed with Zhejiang Longsheng Group on May 29, 2025, to sell the company's 37.57% stake in DyStar for a base consideration of USD 676.26 million, subject to closing conditions with a long-stop date of October 2, 2025.
Near-term positive on standalone recovery and margin expansion, but consolidated earnings remain pressured by subsidiary-level debt servicing costs. The DyStar stake sale, if closed, would be a major value-unlocking event for shareholders, with the long-stop date of October 2, 2025 acting as a key catalyst to watch.