Revised
KOTIC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kothari Industrial Corporation has resubmitted a corrected Limited Review Report on its consolidated financial results for the quarter and nine months ended December 31, 2025. The original report had a typographical error mentioning September 30, 2025 instead of December 31, 2025. The revised auditor's report (by Ray & Ray, Chartered Accountants) contains several qualifications, including inability to verify Rs. 118.66 lakhs of recognized revenue and unaccrued income/expenditure for one division. The auditor also flagged pending stamp duty assessment on land and plant sold to Coromandel International (Rs. 4,895 lakhs + Rs. 133 lakhs), missing balance confirmations, TDS defaults of Rs. 0.77 lakhs, and an ongoing Madras High Court case on land repossession in Coonoor. The company's associate Phoenix Kothari Footwear reported a net loss of Rs. 2,257.01 lakhs for the quarter.
The correction itself is administrative, but the underlying qualifications point to weak internal controls, unresolved tax/legal exposures, and significant associate-level losses. Shareholders should watch for potential adjustments when FY26 full-year results are released, particularly around the Labour Codes impact and pending litigation outcomes.