KSS Limited has informed the Exchange regarding Board meeting held on August 12, 2025.
Awaiting price reaction for this filing.
KSS Limited, currently under Corporate Insolvency Resolution Process (CIRP) since January 2023, announced unaudited financial results for Q1 FY26 approved by the Resolution Professional. Standalone revenue from operations stood at Rs 14.57 lakhs (flat YoY), while the company posted a standalone loss of Rs 17.33 lakhs versus Rs 16.48 lakhs in Q1 FY25. Consolidated results showed revenue of Rs 50.35 lakhs (down from Rs 53.76 lakhs YoY) and a loss of Rs 42.09 lakhs (improved from Rs 67.24 lakhs YoY). The Resolution Plan submitted by Micro Capitals was rejected by NCLT on March 24, 2025, and the RP has now filed an application for initiation of liquidation before the NCLT, which is pending. The auditor issued a Disclaimer of Conclusion citing inability to obtain sufficient evidence on several matters including investments of Rs 6,199.90 lakhs in subsidiaries with negative net worth, unconfirmed loans and advances of Rs 1,325.62 lakhs, and undisclosed tax assets. Multiple large disputed demands remain open: Income Tax (Rs 2,669 lakhs standalone / Rs 5,943 lakhs consolidated), MVAT (Rs 1,035 lakhs), Customs (Rs 734 lakhs), and an SEBI penalty of Rs 12 crore. Trading in the stock has been suspended by NSE since November 2020.
This is a deeply negative filing for shareholders. The rejection of the resolution plan and pending liquidation application means the company's survival is uncertain, with potential wipeout of equity value. The auditor's disclaimer of conclusion, unresolved massive tax/customs/SEBI liabilities, and continuing losses paint a picture of severe financial distress. With trading already suspended since 2020, retail investors face near-total illiquidity and high risk of total loss if liquidation proceeds.