Kay Power & Paper Ltd has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company published these results in the Marathi daily newspaper "Gramodhaar" on February 17, 2026, as required for listed entities.

Financial Performance Overview

The company's financial performance for Q3 FY26 shows mixed results compared to previous periods. Both standalone and consolidated figures remain identical, indicating no subsidiary operations affecting the consolidated numbers.

Quarterly Performance Analysis

The company reported total income from operations of ₹475.14 lacs for Q3 FY26, representing a significant decline from ₹762.68 lacs in the previous quarter and ₹938.30 lacs in the corresponding quarter of the previous year. This indicates a sequential decline of 37.70% and a year-over-year decrease of 49.37%.

The company recorded a net loss of ₹8.54 lacs for the quarter, marking a reversal from the profit of ₹1.96 lacs achieved in Q2 FY26 and the ₹8.93 lacs profit recorded in Q3 FY25. The loss was consistent across all profit metrics - before tax, after tax, and after exceptional items.

Nine-Month Performance

For the nine-month period ended December 31, 2025, Kay Power & Paper reported total income of ₹1979.27 lacs compared to ₹3059.25 lacs in the corresponding period of the previous year, reflecting a decline of 35.30%. The company recorded a net loss of ₹5.37 lacs for the nine-month period, contrasting with a net profit of ₹16.17 lacs in the same period of FY25.

Share Capital and Earnings Per Share

The company's equity share capital increased to ₹3494.00 lacs as of December 31, 2025, from ₹2209.00 lacs in the previous periods, indicating a capital restructuring or fresh equity issuance during the current financial year. The basic and diluted earnings per share for Q3 FY26 stood at -₹0.02, compared to ₹0.01 in Q2 FY26 and ₹0.04 in Q3 FY25.

Regulatory Compliance

Kay Power & Paper Ltd, with CIN L21099MH1991PLC061709 and BSE scrip code 530255, has fulfilled its disclosure obligations by publishing the financial results in the regional language newspaper as mandated by SEBI regulations. The complete financial results are available on the BSE website and the company's official website for stakeholder reference.

Kay Power & Paper Limited has informed BSE Limited about the resignation of its statutory auditors M/s. R Y Kulkarni & Associates, Chartered Accountants, effective February 3, 2026. The company filed this intimation under Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring compliance with applicable statutory provisions.

Auditor Resignation Details

The resignation was formalized through a letter dated February 3, 2026, submitted by R Y Kulkarni & Associates to the company's Board of Directors. The auditing firm provided detailed reasons for their decision to step down from their statutory role.

Reasons for Resignation

The auditing firm cited two primary reasons for their resignation. The expiry of their Peer Review Certificate issued by the Institute of Chartered Accountants of India (ICAI) represents the main regulatory constraint. According to applicable provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, holding a valid Peer Review Certificate is mandatory for continuing as statutory auditors of listed entities.

Additionally, the firm mentioned old age and health issues of the proprietor R Y Kulkarni as contributing factors to their decision. The proprietor holds membership number 036596 with ICAI.

Regulatory Compliance

The company has fulfilled all disclosure requirements as mandated by SEBI regulations. The resignation letter includes comprehensive details as required under SEBI Circular CIR/CFD/CMD1/114/2019 dated October 18, 2019.

Transition Arrangements

The resigning auditors confirmed they will issue a limited review report for the quarter ended December 31, 2025, before their resignation becomes effective. The firm has declared that no other material reasons exist beyond those disclosed for their resignation.

Kay Power and Paper Limited, formerly known as Kay Pulp and Paper Mills Ltd., operates from its registered office and works at Gat No. 454/457, A/P. Borgaon, Tal./Dist. Satara. The company will need to appoint new statutory auditors to fulfill regulatory requirements and continue its audit functions.