Kedia Construction Company Limited reported a net loss of ₹232.72 lakh for the financial year ended March 31, 2026 (FY26), marking a significant reversal from a profit after tax of ₹39.25 lakh in the previous year. The Mumbai-based construction firm saw its bottom line turn negative despite a marginal increase in top-line revenue.

The company disclosed these figures during its 45th Annual General Meeting held on September 23, 2026, via video conference. While turnover grew slightly to ₹83.55 lakh from ₹82.60 lakh (restated) in FY25, the profit before tax swung sharply to a loss of ₹229.57 lakh against a profit of ₹49.87 lakh (restated) in the prior year.

Financial performance snapshot

The following table details the key financial metrics for FY26 compared to the restated figures for FY25:

AGM proceedings and resolutions

The meeting was chaired by Nitin Shantikumar Kedia and attended by all directors via video conference. A total of nine members were present, satisfying the quorum requirements under the Companies Act, 2013.

Shareholders passed three ordinary resolutions through remote e-voting:

1. Adoption of audited standalone financial statements for FY26.
2. Re-appointment of Nitin Kedia (DIN: 00050749), who retired by rotation.
3. Ratification of transactions with related parties.

Ms. Kala Agarwal, Practicing Company Secretary, served as the scrutinizer for the voting process. The meeting commenced at 12:00 pm and concluded at 12:22 pm.

What the numbers show

The divergence between revenue stability and profitability collapse is stark. While turnover remained virtually flat with a negligible increase of approximately 1.1%, the company moved from a healthy pre-tax profit margin to a substantial loss. This suggests that operating costs or exceptional charges likely escalated significantly in FY26, as revenue growth did not offset the expense burden.

Kedia Construction Company Limited has fixed September 18, 2026 as the record date to give effect to Part III of its Scheme of Arrangement and Amalgamation with Kirti Investments Limited.

The board of directors of the transferee company announced the date on September 5, 2026, pursuant to the order dated April 6, 2026, passed by the National Company Law Tribunal (NCLT), Mumbai Bench. The scheme provides for the merger of the transferor company into the transferee company and a reduction in the face value of the equity shares of Kedia Construction.

Merger Mechanics

Under the approved scheme, Kedia Construction will issue new equity shares to shareholders of Kirti Investments based on the following exchange ratio:

The new equity shares will rank pari passu with existing equity shares of Kedia Construction in all respects, including dividend rights. Upon allotment, the equity shares of Kirti Investments held by shareholders on the record date will be automatically cancelled.

Capital Restructuring

The scheme also mandates a reduction in the face value of Kedia Construction’s equity shares from ₹5 to ₹1. This reduction is intended to optimize the capital structure and reduce future fundraising costs. The authorized share capital of the transferee company will be reclassified accordingly, absorbing the authorized capital of the transferor company without additional stamp duty payments.

What the Numbers Show

The amalgamation consolidates two distinct business lines under one entity. Kirti Investments is engaged in estate agency and consultancy services, while Kedia Construction operates in construction, contracting, and land development. The pooling of resources aims to streamline regulatory compliances and reduce administrative overheads for both listed entities.

Regulatory Compliance

The NCLT sanctioned the scheme after receiving no objections from stakeholders or regulatory authorities. The companies have undertaken to comply with all statutory requirements under the Companies Act, 2013, and relevant tax laws. Kirti Investments will be dissolved without winding up upon the scheme becoming effective.