B.L. Kashyap FY26 profit falls 94% despite revenue rise
B.L. Kashyap and Sons Limited reported a 94% decline in consolidated net profit to ₹1.55 crore for FY26, despite a rise in total income to ₹1,40,070.63 lakh. Q4 operating profitability improved significantly with EBITDA surging to ₹26.92 crore, though a net loss of ₹12.52 crore was recorded due to exceptional items of ₹37.82 crore, including provisions for Right of Recompense and arbitration settlements.

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B.L. Kashyap and Sons Limited reported a consolidated net profit of ₹1.55 crore for the financial year ended March 31, 2026, a significant decline of 94% from ₹27.48 crore in the previous year. The company recorded a total income of ₹1,40,070.63 lakh for FY26, an increase from ₹1,18,060.51 lakh in FY25, primarily due to a rise in revenue from operations to ₹1,37,913.66 lakh. The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 28, 2026. Statutory auditors issued an unmodified opinion on the results, which were prepared in accordance with Indian Accounting Standards (Ind AS).
Financial Performance
The standalone financial results for FY26 showed a net profit of ₹18.58 crore, down from ₹35.92 crore in the previous year. Revenue from operations for the standalone entity increased to ₹1,34,791.28 lakh from ₹1,14,229.67 lakh in FY25. The company reported a basic earnings per share (EPS) of ₹0.82 for the year, compared to ₹1.59 in the prior year. The following table summarises the consolidated financial performance for the full year:
Consolidated Results (₹ in Lakhs)
| Particulars: | Year Ended March 31, 2026 | Year Ended March 31, 2025 |
|---|---|---|
| Revenue from Operations: | 1,37,913.66 | 1,15,363.32 |
| Total Income: | 1,40,070.63 | 1,18,060.51 |
| Total Expenses: | 1,33,558.30 | 1,14,902.48 |
| Profit for the Period: | 154.72 | 2,747.52 |
Q4 Consolidated Performance
For the quarter ended March 31, 2026, B.L. Kashyap and Sons delivered a notable improvement in operating profitability. Q4 EBITDA rose to ₹26.92 crore from ₹7.27 crore in the same quarter of the previous year, while the EBITDA margin expanded to 7.40% from 2.47% year-on-year. The company also reported a consolidated profit before tax (PBT) of ₹10.83 crore for the quarter, compared to a profit of ₹6.63 crore in the corresponding period. Q4 consolidated revenue stood at ₹363.71 crore versus ₹294.18 crore in the corresponding period, indicating healthy top-line growth. However, the quarter recorded a consolidated net loss of ₹12.52 crore, impacted by exceptional items amounting to ₹37.82 crore.
Q4 Consolidated Key Metrics
| Metric: | Q4 FY26 | Q4 FY25 |
|---|---|---|
| Revenue: | ₹363.71 Cr | ₹294.18 Cr |
| EBITDA: | ₹26.92 Cr | ₹7.27 Cr |
| EBITDA Margin: | 7.40% | 2.47% |
| Profit Before Tax: | ₹10.83 Cr | ₹6.63 Cr |
| Net Profit/(Loss) (₹ Cr): | (12.52) | (3.22) |
Exceptional Items and Provisions
The financial results include exceptional items of ₹37.82 crore for the quarter and year ended March 31, 2026. This includes an additional provision of ₹20 crore recognised towards the Right of Recompense (ROR) to participant lenders, pending quantification. The balance amount of ₹17.82 crore represents the amount written off from Contract Assets pursuant to an arbitration settlement. Employee benefit expenses for the year included a one-time incremental cost of ₹2.74 crore arising from the implementation of the New Wage Code.
Assets and Liabilities
The consolidated total assets as of March 31, 2026, stood at ₹1,66,164.25 lakh, up from ₹1,51,566.73 lakh in the previous year. Total equity and liabilities increased to ₹1,66,164.25 lakh, with current liabilities rising to ₹96,821.89 lakh from ₹83,410.48 lakh. The company's cash and cash equivalents decreased to ₹2,151.02 lakh from ₹2,188.17 lakh at the end of FY25.
Historical Stock Returns for B L Kashyap & Sons
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.16% | -2.65% | +4.11% | +9.28% | -24.05% | +174.36% |
What is the expected timeline for quantifying the additional ₹20 crore provision for the Right of Recompense, and could further provisions be required?
Will the operating profitability improvements seen in Q4 FY26 be sustainable into the next financial year given the exceptional items?
How will the significant decline in cash and cash equivalents impact the company's ability to fund ongoing operations and working capital requirements?


































