Kesar Terminals & Infrastructure Limited (KTIL) has reported a significant net loss of Rs 3,564.75 crore for the quarter ended September 30, 2025, primarily due to an exceptional loss from the sale of its subsidiary. This marks a stark contrast to the profit of Rs 42.09 crore recorded in the same quarter of the previous year.

Key Financial Highlights

• Revenue from Operations: Rs 858.56 crore, up from Rs 793.86 crore in Q2 FY2025
• Total Income: Rs 893.40 crore, compared to Rs 805.05 crore in the year-ago period
• Exceptional Loss: Rs 3,648.83 crore from the sale of subsidiary

Subsidiary Divestment

The company completed the transfer of its 100% equity and preference stake in Kesar Multimodal Logistics Limited (KMLL) to DP World Multimodal Logistics Pvt Ltd on September 10, 2025. This transaction resulted in an exceptional loss of Rs 3,648.83 crore, significantly impacting the quarter's bottom line.

Debt Resolution and Corporate Guarantee

Following the sale, KMLL's bank dues have been fully paid off, and No Dues Certificates have been received from the lenders. Consequently, KTIL no longer bears any liability as a corporate guarantor. An Original Application filed by one of KMLL's lenders before the Debt Recovery Tribunal in Jabalpur is expected to be withdrawn shortly.

Financial Position

Ongoing Legal Matter

KTIL is currently engaged in a legal dispute with Deendayal Port Trust (DPT) regarding transfer fees and lease rent increases for leasehold lands. The company has filed a Special Leave Petition in the Supreme Court of India against an order by the Gujarat High Court. Pending the Supreme Court's decision, no provisions or adjustments have been made in the financial results concerning this matter.

Segment Information

The company continues to operate solely in the Bulk Liquid Storage Business at Kandla, with no other reportable segments as per Ind AS 108 - Operating Segments.

Auditor's Review

The statutory auditors have reviewed the financial results, noting the ongoing litigation with DPT as a basis for qualified conclusion. They highlighted that the final outcome of this matter may impact the company's profits, right to use lease assets, and lease liabilities.

Despite the substantial loss this quarter, KTIL's operational revenue has shown improvement. The company's focus now appears to be on stabilizing its operations post the divestment of KMLL and resolving the ongoing legal matters with DPT.

Kesar Terminals & Infrastructure Limited , a prominent player in the infrastructure sector, has announced significant changes to its board composition and leadership team, along with setting the date for its upcoming Annual General Meeting (AGM).

New Board Appointments

The company's Board of Directors has recommended the appointment of two new members to strengthen its leadership:

1. Mrs. Natasha H. Kilachand has been proposed as a Non-Executive Director. At 57, Mrs. Kilachand brings 28 years of experience in branding and merchandising to the table. A Commerce graduate from the University of Mumbai, she also holds professional certifications in Computer Programming and Software. Her expertise spans establishing and managing businesses engaged in branding and merchandising for corporate clients, serving both domestic and export markets. Mrs. Kilachand is the spouse of Shri Harsh Kilachand, the Executive Chairman of the company.

2. Mr. Mahesh A. Kuvadia, 71, has been recommended for the position of Non-Executive, Independent Director. Mr. Kuvadia is a Commerce graduate with a law degree and is a Fellow Member of the Institute of Company Secretaries of India (ICSI). He brings 36 years of government experience, having retired as Regional Director at the Ministry of Corporate Affairs. His extensive background includes serving on the boards of several stock exchanges and representing India on international committees.

Leadership Changes

In a strategic move, the company has appointed Shri Vipul Doshi as the Chief Executive Officer (CEO) while retaining his current role as Chief Financial Officer (CFO). Doshi, a Commerce Graduate and Fellow Chartered Accountant (F.C.A.), brings 40 years of experience in finance, accounts, costing, taxation, auditing, and budgeting to this expanded role.

Annual General Meeting

Kesar Terminals & Infrastructure has scheduled its 17th Annual General Meeting for October 24, 2025. This meeting will provide an opportunity for shareholders to engage with the company's leadership and discuss recent developments.

Board Meeting Details

The board meeting where these decisions were made took place on September 26, 2025. It commenced at 11:15 a.m. and concluded at 12:00 noon. The company has duly informed the BSE Ltd. about these developments in compliance with SEBI regulations.

These strategic appointments and leadership changes are expected to bring fresh perspectives and expertise to Kesar Terminals & Infrastructure Limited, potentially driving the company's growth and operational efficiency in the coming years.