results
KOTIC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kothari Industrial Corporation reported FY2026 standalone revenue of Rs 17,830.36 lakhs, more than doubling from Rs 8,663.59 lakhs in the prior year. However, the company recorded a standalone net loss of Rs 3,121.44 lakhs (vs Rs 1,742.22 lakhs loss prior year), and consolidated net loss of Rs 8,989.20 lakhs which includes Rs 5,867.75 lakhs share of loss from an associate. The auditors Ray & Ray issued a Qualified Opinion on both standalone and consolidated results due to six material issues: unreconciled GST credits of Rs 10.41 crores, unverified subsidy receivable of Rs 80 lakhs outstanding 8+ years, missing balance confirmations for receivables/payables/loans totaling over Rs 140 crores, inventory valuation reports unavailable for Rs 10.98 crores out of Rs 17.02 crores, pending land repossession case in Madras High Court, and unreconciled statutory deductions. The company also paid Rs 31 lakhs interest for delayed SIPCOT land allotment payment of Rs 32.13 crores.
The qualified audit opinion signals significant internal control weaknesses and unverified financial entries that could materially impact reported numbers. The widening losses and auditor concerns about receivables, GST reconciliations, and inventory valuation present heightened risk for shareholders.