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KOTIC · price
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Awaiting price reaction for this filing.
Kothari Industrial Corporation reported unaudited Q3 FY26 results with standalone revenue of Rs 5,092.82 lakhs (vs Rs 4,985.58 lakhs in Q3 FY25) and a loss before tax of Rs 388.06 lakhs for the quarter. Standalone nine-month revenue grew sharply to Rs 14,031.40 lakhs from Rs 6,044.08 lakhs a year earlier, but the company swung to a loss before tax of Rs 2,721.50 lakhs versus a profit of Rs 332 lakhs in the prior period. On a consolidated basis, the loss before tax widened dramatically to Rs 12,309.07 lakhs for the nine months, primarily due to a Rs 2,309.07 lakhs share of losses from associate Phoenix Kothari Footwear Limited (PKFL). The Board also approved voluntary delisting from the Calcutta Stock Exchange without an exit offer, while the BSE listing will continue. The statutory auditor's limited review flagged inability to verify Rs 118.66 lakhs of revenue, missing trade balance confirmations, a pending Ennore land stamp-duty dispute, TDS defaults, and an ongoing Coonoor land case before the Madras High Court.
The deepening losses — especially on a consolidated basis driven by the associate PKFL — and multiple auditor concerns about unverified items and pending litigations are negative signals for shareholders. The delisting from CSE narrows trading liquidity but the BSE listing remains intact; investors should monitor the going-concern assumption, contingent land cases, and further losses at the associate company.