Kisan mouldings Limited's board of directors has approved the reclassification of a promoter group member from the 'Promoter and Promoter Group' category to 'Public' category under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The decision was taken during the board meeting held on January 27, 2026, which commenced at 12:45 p.m. IST and concluded at 1:58 p.m. IST.

Promoter Reclassification Details

The board approved the reclassification request from Mrs. Bindiya R Aggarwal, who seeks to move from the promoter group category to public shareholder status. The reclassification is subject to receipt of 'No Objection Certificate' from BSE Limited, where the company's equity shares are listed.

Regulatory Compliance and Conditions

The outgoing promoter has confirmed compliance with several regulatory conditions as specified under Regulation 31A of SEBI LODR Regulations. These confirmations ensure adherence to the reclassification framework established by the securities regulator.

Key compliance confirmations include:

• Does not hold more than 10% of the fully paid-up equity share capital and voting capital
• Does not exercise control over company affairs directly or indirectly
• Has no special rights through formal or informal arrangements including shareholder agreements
• Will not be represented on the Board of Directors for more than 3 years from shareholders' approval date
• Will not act as Key Managerial Person for more than 3 years from shareholders' approval date
• Is not a 'willful defaulter' as per Reserve Bank of India Guidelines
• Is not a fugitive economic offender

Rationale and Corporate Structure

The board noted that the rationale for reclassification stems from the promoter's non-involvement in day-to-day business affairs of the company. Additionally, the decision aligns with the company's current corporate structure, as Kisan Mouldings Limited has become a subsidiary of Apollo Pipes Limited.

Approval Process and Next Steps

The reclassification requires multiple levels of approval as mandated by SEBI regulations. The board has authorized the Chairman & Managing Director, Mr. Sanjeev Aggarwal, and Executive Whole Time Director, Mr. Rishav Aggarwal, to undertake necessary procedural steps.

Required approvals include:

• Shareholders' approval through General Meeting or Postal Ballot Process
• Stock Exchange approval from BSE Limited
• Other statutory authorities as may be necessary

The company had previously intimated BSE Limited about receiving the reclassification request within twenty-four hours of receipt, as required under regulatory guidelines. This information is also available on the company's website at www.kisangroup.com .

Kisan mouldings Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing a challenging performance with the company slipping into losses during the third quarter of FY26. The Board of Directors approved these results at their meeting held on January 27, 2026, following review and recommendation by the Audit Committee.

Q3 FY26 Financial Performance

The company's standalone financial performance for Q3 FY26 showed a significant deterioration compared to the same period last year. Revenue from operations declined to ₹6,056.88 lakhs from ₹7,032.40 lakhs in Q3 FY25, representing a decrease of 13.87%. The company reported a net loss of ₹360.10 lakhs in Q3 FY26, a stark contrast to the net profit of ₹40.42 lakhs recorded in the corresponding quarter of the previous year.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Kisan Mouldings Limited's financial performance reflected similar challenges. Revenue from operations decreased to ₹16,951.64 lakhs from ₹19,005.31 lakhs in the corresponding nine-month period of FY25, marking a decline of 10.81%. The company recorded a net loss of ₹409.41 lakhs for the nine-month period, compared to a net profit of ₹294.54 lakhs in the same period of the previous year.

Expense Structure and Cost Management

The company's expense analysis reveals mixed trends across different cost categories. Cost of materials consumed decreased to ₹2,918.15 lakhs in Q3 FY26 from ₹4,610.97 lakhs in Q3 FY25. However, the company faced an adverse impact from changes in inventories, recording ₹906.24 lakhs compared to a favorable variance of (₹591.83 lakhs) in the previous year quarter. Employee benefits expenses remained relatively stable at ₹711.48 lakhs compared to ₹721.82 lakhs in Q3 FY25.

Regulatory and Compliance Updates

The company's financial results were prepared in accordance with Indian Accounting Standard 34 "Interim Financial Reporting" and comply with Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The statutory auditors M/s. SEN & RAY, Chartered Accountants, conducted a limited review of both standalone and consolidated financial results. Additionally, the company noted the implementation of New Labour Codes effective November 21, 2025, estimating an incremental liability of ₹65.83 lakhs, which management considers not material to the financial results.

Capital Structure and Operational Segments

Kisan Mouldings Limited maintains a paid-up equity share capital of ₹11,946.31 lakhs consisting of shares with a face value of ₹10 each. The company operates in a single reportable operating segment, and therefore does not have separate reportable segments as per Ind AS 108 'Operating Segments'. The consolidated financial results include Kisan Mouldings Limited as the parent company and KML Trade links Private Limited as its subsidiary company.