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.

Kesar Terminals & Infrastructure Limited , a prominent player in the bulk liquid storage business, has reported a net loss of Rs 72.20 lakhs for the quarter ended June 30. This marks a significant downturn from the profit of Rs 114.40 lakhs recorded in the same period last year.

Revenue Decline and Operational Challenges

The company's revenue from operations saw a decline, dropping to Rs 723.99 lakhs from Rs 761.62 lakhs year-over-year. This 4.94% decrease in revenue reflects the challenging operational environment faced by the company during the quarter.

Subsidiary Woes

A major concern for Kesar Terminals is the financial situation of its wholly-owned subsidiary, Kesar Multimodal Logistics Limited (KMLL). KMLL is grappling with outstanding loans totaling Rs 17,757.06 lakhs and has defaulted on repayments. The situation has escalated to the point where insolvency proceedings are pending against KMLL.

Adding to KMLL's troubles, the Madhya Pradesh State Agricultural Marketing Board has imposed a penalty of Rs 762.30 lakhs on the subsidiary for delays in construction of certain facilities as per a concession agreement.

Divestment Plans

In light of these challenges, Kesar Terminals has taken steps towards divesting KMLL. The company has signed a share purchase agreement with DP World Multimodal Logistics Private Limited for the divestment of KMLL, with a completion deadline set for August 31.

Consolidated Performance

On a consolidated basis, the impact of KMLL's struggles is even more apparent. Kesar Terminals reported a significant consolidated loss of Rs 1,737.02 lakhs for the quarter, highlighting the strain placed on the parent company by its subsidiary's financial difficulties.

Auditor Concerns

The company's auditors have raised several concerns in their review report. These include:

1. The potential liability arising from the corporate guarantee provided for KMLL's loans.
2. The carrying value of investments in and loans to KMLL, given the subsidiary's eroded net worth.
3. Ongoing litigation with Deendayal Port Trust regarding lease matters.

Looking Ahead

Despite these challenges, Kesar Terminals continues to operate its core bulk liquid storage business. The company's management is focused on resolving the issues surrounding KMLL, with the proposed divestment being a key part of their strategy.

As Kesar Terminals navigates through these turbulent times, stakeholders will be keenly watching the progress of the KMLL divestment and its impact on the company's future financial health and operational stability.