Kundan Minerals and Metals Limited accepted the resignation of Ms. Shefali Kesarwani as an Independent Director, effective from the close of business hours on July 1, 2026. The resignation follows a disclosure submitted to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ms. Kesarwani cited preoccupation and other personal commitments as the reasons for her departure.

The company confirmed that Ms. Kesarwani was not a member of any committee, and consequently, there is no cessation from any committee positions. In her resignation letter, she confirmed that there are no material reasons for her resignation other than those stated. The intimation was signed by Sonica Verma, Company Secretary and Compliance Officer.

Resignation Details

The filing provided specific details regarding the change in the board composition as required under Regulation 30. The table below summarizes the key particulars of the cessation.

Ms. Kesarwani requested that the company intimate the Registrar of Companies and Stock Exchanges regarding her resignation at the earliest. She expressed her gratitude to the Board and committee for the support extended during her tenure.

Kundan Minerals and Metals Limited reported a consolidated net profit of ₹10,814.76 lakh for the financial year ended March 31, 2026, a decrease from ₹12,793.54 lakh in the previous year. Total income for the year rose to ₹476,296.66 lakh compared to ₹428,970.39 lakh in FY25. The Board of Directors approved the audited standalone and consolidated financial results during a meeting held on May 27, 2026. The statutory auditors provided an unmodified opinion on the annual audited standalone and consolidated financial results.

Consolidated Financial Performance

For the quarter ended March 31, 2026, the company reported a net profit of ₹841.14 lakh, a significant decrease from ₹6,042.67 lakh in the same quarter of the previous year. Total income for Q4 FY26 stood at ₹142,524.64 lakh. The company recorded a share of loss of associate accounted for using the equity method at ₹97.39 lakh for the year.

Standalone Results

On a standalone basis, the company reported a net profit of ₹259.24 lakh for FY26, down from ₹12,579.79 lakh in the previous year. For the quarter ended March 31, 2026, the standalone net profit was ₹(13.42) lakh. Total standalone income for the year was ₹1,728.46 lakh.

Corporate Governance and Disclosures

The Board re-appointed S Lall Vikas & Co., Chartered Accountants, as internal auditors for the financial year 2026-27. The auditors confirmed that the financial statements present a true and fair view in conformity with Indian Accounting Standards. The company noted that trading of its equity shares remains temporarily suspended on the BSE and NSE since October 4, 2023, following the approval of a resolution plan by the National Company Law Tribunal (NCLT). The company is currently in the process of obtaining approval for the revocation of suspension and re-listing of its shares.

Segment and Regulatory Disclosures

The company operates in a single business segment, "Precious metals and related products". During the quarter, subsidiary Kundan Gold Mines Private Limited issued Compulsorily Convertible Debentures (CCDs) to Absolute Herbs Exports LLP on March 30, 2026, ceasing to be a subsidiary and becoming an associate company. The CCDs were converted into equity shares on May 20, 2026. Additionally, the Holding Company subscribed to a 70% equity stake in Kundan Venture FZCO in February 2025. A Survey under Sec 133A was conducted by the Income Tax department on the Group Companies on January 28, 2026.