Unaudited Financial Results (Standalone &Consolidated) of the Company for the Quarter & Half Yearly ended 30th September, 2025.
Awaiting price reaction for this filing.
Kundan Minerals and Metals (formerly Eastern Sugar & Industries) reported a sharp turnaround at the standalone level. Standalone Q2 FY26 PAT was Rs. 82.55 lakhs versus a loss of Rs. 10.56 lakhs in Q2 FY25, while H1 FY26 PAT was Rs. 180.31 lakhs versus a loss of Rs. 24.85 lakhs. Standalone total income surged to Rs. 748.59 lakhs in H1 FY26 from a near-zero Rs. 0.152 lakhs in H1 FY25, reflecting the new precious metals business after the January 2025 acquisition of Kundan Concentrates. However, the consolidated picture remains weak — subsidiaries and associates dragged consolidated Q2 FY26 PAT to a loss of roughly Rs. 263 lakhs. Operating cash flow was deeply negative at Rs. (1,485.85) lakhs standalone and Rs. (3,397.61) lakhs consolidated. The company also deployed Rs. 4,000 lakhs as inter-corporate deposits to its loss-making subsidiary at 7.75%. Auditor Ashwani & Associates issued a clean (unqualified) limited review report.
The standalone turnaround is encouraging for a company mid-transformation, but consolidated losses, negative operating cash flows, and a sizeable Rs. 4,000 lakh related-party ICD to a loss-making subsidiary are red flags. Shareholders should monitor whether the newly acquired subsidiaries move towards profitability and whether the cash burn stabilises.