Outcome of the Board Meeting held today i.e. Friday, 13th February 2026
Awaiting price reaction for this filing.
The Board of Kundan Minerals & Metals Ltd (formerly Eastern Sugar & Industries) approved unaudited standalone and consolidated financial results for Q3 FY26 and nine months ended 31 December 2025, which were also reviewed by statutory auditors Ashwani & Associates with an unmodified (clean) conclusion. The company operates in a single segment — precious metals and related products. Key corporate actions disclosed include making Kundan Gold Mines Pvt Ltd a wholly owned subsidiary after acquiring an additional 51% stake, and prior investments in Kundan Concentrates Pvt Ltd (preference shares and ICDs of Rs 4,000 lakhs at 7.75%) and Kundan Venture FZCO (70% stake). The results include prior period expenses under exceptional items. Two regulatory matters were flagged: a Directorate of Revenue Intelligence (DRI) search on 6 December 2025 and an Income Tax survey under Section 133A on 28 January 2026, both currently under review with no show-cause notice received to date.
The clean auditor review supports near-term credibility, but the DRI search and IT survey are meaningful regulatory overhangs that could lead to tax/duty liabilities and warrants close monitoring. Making Kundan Gold Mines a fully owned subsidiary consolidates future earnings, while the exceptional prior-period items slightly depress reported profitability for the quarter.