Kalind Limited announced the outcome of its Board meeting held on February 12, 2026, approving unaudited standalone and consolidated financial results for Q3 FY26 ended December 31, 2025. The meeting, conducted via audio-video conferencing from 7:30 PM to 9:05 PM, also addressed the resignation of joint statutory auditors.

Standalone Financial Performance

The company demonstrated remarkable improvement in its standalone financial metrics for Q3 FY26:

The company's operational efficiency improved significantly with cost of materials consumed at ₹1573.18 lakh and employee benefits expense of ₹127.49 lakh for the quarter. Total expenses amounted to ₹1,084.42 lakh, resulting in a profit before tax of ₹420.63 lakh.

Consolidated Results

The consolidated financial results, incorporating subsidiary Prasad Earth Movers Private Limited acquired on September 18, 2025, showed strong performance:

The subsidiary contributed total revenues of ₹65.50 lakh for the quarter and ₹254.44 lakh for the nine months period, with a net loss of ₹54.82 lakh for Q3 FY26 and net profit of ₹81.57 lakh for the nine months period.

Auditor Resignation and Qualified Review

The Board approved the resignation of M/s. Mishra Karwa & Co., Chartered Accountants as Joint Statutory Auditors, effective February 11, 2026. The resignation was attributed to pre-existing professional commitments and resource constraints that prevented adequate attention to listed entity audit requirements.

JMMK & Co., Chartered Accountants issued qualified review reports noting inadequate reconciliation of machinery hire arrangements and corresponding income recognition. The auditors were unable to obtain sufficient evidence regarding the occurrence, completeness, and accuracy of hire income and related expenses.

Corporate Compliance

Vice Chairman & Managing Director Ayush Dharmendrabhai Jasani communicated the board meeting outcome to the Bombay Stock Exchange, ensuring compliance with Regulation 30 read with Regulation 33 of SEBI Listing Regulations. The company maintains its registered office at Fourth Floor, Office No 404, White Pearls, Near Galaxy Circle, Pal Gam, Surat 395009, Gujarat, with paid-up equity share capital of ₹510.00 lakh.

Kalind Limited has announced the outcome of its Rights Issue Committee meeting held on January 23, 2026, setting key parameters for its upcoming rights issue worth ₹120.51 crores. The committee approved January 30, 2026 as the record date for determining eligible shareholders for the rights offering.

Rights Issue Structure and Pricing

The rights issue involves fully paid-up equity shares with a face value of ₹10 each, priced at ₹17 per share including a premium of ₹7. The company will issue 7,08,90,000 rights equity shares for a total amount of ₹1,20,51,30,000, assuming full subscription.

Rights Issue Timeline

The rights issue follows a structured timeline beginning with the record date and concluding with share listing. Eligible shareholders will receive rights entitlements based on their holdings as of January 30, 2026.

Share Capital Impact

The rights issue will significantly expand the company's equity base. Prior to the rights issue, Kalind Limited has 5,10,00,000 outstanding equity shares. Upon full subscription, the total outstanding shares will increase to 12,18,90,000 equity shares.

Regulatory Approvals and Documentation

The rights issue received in-principle approval from BSE Limited on January 20, 2026. The Rights Issue Committee also approved the Letter of Offer to be filed with SEBI and BSE Limited. The ISIN for credit of dematerialized rights entitlements is INE377D20026.

Meeting Details

The Rights Issue Committee meeting commenced at 12:05 p.m. and concluded at 12:30 p.m. on January 23, 2026. This follows the Board of Directors' approval on December 27, 2025, for issuing equity shares not exceeding ₹121 crores through a rights issue. The company had previously rescheduled the committee meeting multiple times, with intimations sent on January 7, 12, 14, and 20, 2026.