Kesar Terminals Reports Rs 72.20 Lakh Loss in Q1 Amid Subsidiary Challenges
Kesar Terminals & Infrastructure Limited reported a net loss of Rs 72.20 lakhs for Q1 FY24, compared to a profit of Rs 114.40 lakhs in Q1 FY23. Revenue declined by 4.94% to Rs 723.99 lakhs. The company's wholly-owned subsidiary, Kesar Multimodal Logistics Limited (KMLL), faces financial difficulties with outstanding loans of Rs 17,757.06 lakhs and pending insolvency proceedings. Kesar Terminals has signed an agreement to divest KMLL to DP World Multimodal Logistics Private Limited by August 31. Consolidated loss for the quarter stood at Rs 1,737.02 lakhs. Auditors have raised concerns about the corporate guarantee for KMLL's loans, investments in KMLL, and ongoing litigation with Deendayal Port Trust.
31Jul 25
Kesar Terminals Extends Deadline for Potential Stake Sale to DP World
Kesar Terminals & Infrastructure Limited (KTIL) has extended the Long Stop date for completing transactions under its Share Subscription & Share Purchase Agreement (SSPA) with DP World Multimodal Logistics Pvt Ltd to August 31, 2025. The agreement involves the potential sale of up to 100% stake in KTIL's wholly-owned subsidiary, Kesar Multimodal Logistics Limited (KMLL). The transaction remains subject to conditions precedent and regulatory approvals. KTIL has informed BSE Ltd. about this development in compliance with SEBI regulations.