OUTCOME
KOTIC · price
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The Board of Directors of Kothari Industrial Corporation Ltd met on February 14, 2026, and approved the standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2025. The company also approved the voluntary delisting of its equity shares from the Calcutta Stock Exchange (CSE), without offering an exit opportunity to shareholders; shares will remain listed on BSE. On the financial side, standalone quarterly revenue rose sharply to about ₹509 crore (from ₹252 crore in Q3 FY25), but the company reported a wider pre-tax loss of around ₹226 crore versus a loss of ₹35 crore in the year-ago quarter. Consolidated results were further weighed down by a share of loss of ₹226 crore from associate Phoenix Kothari Footwear Ltd in the quarter. Management has explicitly stated the financials are prepared on a going concern basis, citing a business expansion plan and additional financing arrangements.
Shareholders should note the company's continued and widening losses, partly driven by losses at its new footwear associate, even as top-line revenue grew. The delisting from CSE is largely administrative (CSE has negligible trading volume) and does not affect BSE listing or shareholder rights. Investors should watch for execution of the funding/expansion plan and resolution of pending litigation around Ennore land and Coonoor plots, which remain contingent risks.