Board Meeting Details

  • Meeting Date: November 14, 2026 (Saturday)
  • Time: 5:00 P.M. to 7:00 P.M.
  • Venue: Registered Office of the Company

Key Decisions Approved

1. Rights Issue Approval: The Board approved the 'Letter of Offer' to be filed with BSE Limited along with Rights Entitlement Letter (REL) and Common Application Form (CAF).

  • Designated stock exchange: BSE Limited
  • Issue size: Up to 42,52,500 fully paid-up equity shares
  • Face value: ₹10 per share
  • Issue price: ₹39.95 per share (including premium of ₹29.95)
  • Total amount: ₹16,98,87,375 (assuming full subscription)
  • Ratio: 54 rights equity shares for every 10 fully paid-up equity shares held
  • Record date: Friday, November 13, 2026

2. Financial Results Approval: The Board approved standalone Unaudited Financial Results for the Quarter and Half Year ended September 30, 2026.

Rights Issue Arrangements

  • Arrangements made with NSDL and CDSL for credit of Rights Entitlements in dematerialized form
  • ISIN for Rights Entitlements: INE252C20015
  • Rights Entitlements will be credited prior to issue opening date
  • Eligible equity shareholders as on record date will receive entitlements

Financial Results (Standalone)

Profit & Loss Statement (₹ in Lakhs)

| Particulars | Q2 FY27 (Unaudited) | Q1 FY27 (Unaudited) | Q2 FY26 (Unaudited) | H1 FY27 (Unaudited) | H1 FY26 (Unaudited) | FY26 (Audited) |

| Revenue from Operations | - | - | - | - | - | - |

| Other Income | 0.07 | 0.06 | 2.83 | 0.13 | 2.93 | 3.06 |

| Total Revenue | 0.07 | 0.06 | 2.83 | 0.13 | 2.93 | 3.06 |

| Total Expenses | 8.17 | 8.62 | 36.65 | 16.80 | 44.22 | 38.12 |

| Profit before tax | (8.10) | (8.56) | (33.82) | (16.67) | (41.29) | (47.93) |

| Profit for the period | (8.10) | (8.56) | (33.82) | (16.67) | (41.29) | (47.93) |

| EPS - Basic (₹) | (0.05) | (0.05) | (0.21) | (0.11) | (0.26) | (0.30) |

| EPS - Diluted (₹) | (0.05) | (0.05) | (0.21) | (0.11) | (0.26) | (0.30) |

Balance Sheet (₹ in Lakhs)

| Particulars | Sep 30, 2026 | Mar 31, 2026 |

| Property, Plant and Equipment | 1540.08 | 1544.76 |

| Total Non-Current Assets | 1557.51 | 1562.05 |

| Total Current Assets | 17.21 | 8.15 |

| Total Assets | 1574.72 | 1570.21 |

| Equity Share Capital | 1575.00 | 1575.00 |

| Other Equity | (48.84) | (32.17) |

| Total Equity | 1526.16 | 1542.83 |

| Non-Current Borrowings | 37.95 | 16.25 |

| Total Current Liabilities | 10.61 | 11.13 |

| Total Liabilities | 48.56 | 27.38 |

Cash Flow Statement (₹ in Lakhs)

| Particulars | H1 FY27 | H1 FY26 |

| Net Cash from Operating Activities | (11.88) | (23.62) |

| Net Cash from Investing Activities | 0.00 | 64.20 |

| Net Cash from Financing Activities | 21.56 | (41.35) |

| Net Increase in Cash | 9.69 | (0.77) |

| Cash at beginning | 1.91 | 3.18 |

| Cash at end | 11.60 | 2.41 |

Key Financial Metrics

  • Paid-up Equity Share Capital: ₹1575.00 lakhs (1.575 crore shares of ₹10 each)
  • Reserves: Negative ₹48.84 lakhs (Sep 2026) vs Negative ₹32.17 lakhs (Mar 2026)
  • Net Worth: ₹1526.16 lakhs (Sep 2026) vs ₹1542.83 lakhs (Mar 2026)

Company Background

  • Incorporated: January 29, 1992 as Kanel Oil and Export Industries Limited
  • Name changed to Kanel Industries Limited w.e.f December 20, 2011
  • Promoter: Ardent Ventures LLP
  • Current Business: Trading of consumer, commercial, industrial and household products (after recent corporate insolvency resolution process)

Rights Issue Details

Issue Schedule

  • Last date for credit of Rights Entitlements: Monday, November 16, 2026
  • Issue Opening Date: Monday, November 23, 2026
  • Last date for on-market renunciation: Tuesday, November 24, 2026
  • Issue Closing Date: Monday, November 30, 2026
  • Finalization of Basis of Allotment: Tuesday, December 01, 2026
  • Date of Allotment: Wednesday, December 02, 2026
  • Date of Credit: Thursday, December 03, 2026
  • Date of Listing: Friday, December 04, 2026

Objects of the Issue

1. Working capital requirement: ₹1300.00 lakhs

2. General corporate purposes: ₹370.00 lakhs

3. Meeting issue expenses: ₹30.00 lakhs

Capital Structure Impact

  • Pre-issue capital: 1,57,50,000 equity shares
  • Post-issue capital (assuming full subscription): 2,00,02,500 equity shares
  • Dilution: 27.00% expansion of equity base

Risk Factors

Document includes extensive risk factors covering internal business risks, issue-specific risks, and external market risks affecting the company's operations and the rights issue.

Corporate Governance

  • Board composition: 4 Directors (1 Executive, 2 Independent, 1 Non-Executive Non-Independent)
  • Key Managerial Personnel: Ms. Shagun Rathi (CFO, CS and Compliance Officer)

#Tags: #KanelIndustries #RightsIssue #SEBIDisclosure #FinancialResults #RegulatoryCompliance #Negative