Promoter Harsh Rajnikant Kilachand acquired 9,700 shares of Kesar Terminals & Infrastructure in the open market on August 27, 2026. The transaction increases his individual stake to 9.35% and the promoter group’s aggregate holding to 61.03%.

The acquisition was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The purchase was executed through the open market mechanism.

Shareholding Structure

Before the transaction, Harsh Rajnikant Kilachand held 10,12,038 shares, representing 9.26% of the total voting capital. Following the acquisition, his holding rose to 10,21,738 shares.

The total shareholding of the promoter group, including persons acting in concert (PAC), increased from 66,58,436 shares (60.94%) to 66,68,136 shares (61.03%).

Capital Details

The total equity share capital and total voting capital of Kesar Terminals & Infrastructure remained unchanged at INR 5,46,32,375 before and after the acquisition. There were no changes in voting rights otherwise than by shares, nor any warrants or convertible securities involved in the transaction.

Kesar Terminals & Infrastructure reported a net profit of ₹234.57 lakh for the quarter ended June 30, 2026 (Q1FY26), marking a recovery from the net loss of ₹72.20 lakh recorded in the corresponding quarter of FY25. Revenue from operations grew 32% year-on-year to ₹955.14 lakh, up from ₹723.99 lakh in Q1FY25.

The company’s total income for the quarter stood at ₹1,074.81 lakh, bolstered by other income of ₹119.67 lakh, a sharp increase from just ₹1.26 lakh in the prior year period. Total expenses declined to ₹766.74 lakh from ₹817.94 lakh in Q1FY25, primarily due to lower employee benefits and repairs & maintenance costs.

Financial Performance

The following table outlines the key financial metrics for Q1FY26 compared to previous periods:

Profit before tax improved to ₹308.07 lakh from a pre-tax loss of ₹92.69 lakh in Q1FY25. Finance costs remained relatively stable at ₹183.76 lakh, compared to ₹211.73 lakh in the prior year quarter. Depreciation and amortisation expenses rose slightly to ₹83.01 lakh from ₹73.89 lakh.

What the Numbers Show

A notable divergence exists between the growth in operational revenue and the surge in other income. While revenue from operations grew by approximately 32% year-on-year, other income jumped from ₹1.26 lakh to ₹119.67 lakh. This non-operational contribution accounts for roughly 11% of total income in Q1FY26, compared to less than 1% in Q1FY25, indicating that the turnaround in profitability was supported significantly by non-core earnings alongside operational improvements.

Auditor Qualification and Litigation Risk

Statutory auditors Chandabhoi & Jassoobhoy issued a qualified conclusion on the unaudited financial results. The qualification stems from pending litigation with the Deendayal Port Trust (DPT), formerly Kandla Port Trust (KPT). The DPT has demanded upfront fees for the transfer of leasehold land names and increased lease rents due to rate revisions.

The company had filed appeals in the High Court of Gujarat, which were dismissed, leading to a Special Leave Petition (SLP) in the Supreme Court of India. As the outcome remains pending and the liability is currently not ascertainable, the company has not made any provisions or adjustments for these potential incremental liabilities. The auditors noted that the final outcome could impact future profits and the valuation of right-to-use lease assets.

Context on Subsidiary Sale

For context, the company completed the sale of its 100% stake in Kesar Multimodal Logistics Limited (KMLL) to DP World Multimodal Logistics Pvt Ltd in September 2025. This transaction resulted in an exceptional loss of ₹3,648.83 lakh recognized in FY26, following earlier impairment provisions. No exceptional items were recorded in Q1FY26.