Board Meeting Details

The Board of Directors meeting was held on Friday, November 13, 2026. The meeting commenced at 11:00 Hrs and concluded at 11:35 Hrs.

Key Business Approved

1. Approval of Unaudited Financial Results for Q2 and H1 FY27

The Board considered, approved and took on record the Unaudited Standalone and Consolidated Financial Results for the quarter and half-year ended September 30, 2026, along with the Limited Review Report issued by the Statutory Auditors. The results were prepared in accordance with Indian Accounting Standards (Ind AS) and SEBI guidelines.

2. Declaration of Interim Dividend for FY 2026-27

The Board declared an Interim Dividend of ₹20.00 (Rupees Twenty) per equity share of ₹5 each (400%) for Financial Year 2026-27.

Financial Results Highlights

Standalone Financials (₹ in Million)

Quarter Ended September 30, 2026:

  • Revenue from Operations:
  • Interest income: ₹93.97
  • Dividend income: ₹454.41
  • Net gain on fair value changes: ₹4.97
  • Other income: ₹0.01
  • Total income: ₹553.36
  • Total expenses: ₹23.06
  • Employee benefits expense: ₹0.99
  • Finance cost: ₹0.01
  • Depreciation and amortization: ₹0.76
  • Other expenses: ₹21.30
  • Profit before tax: ₹530.30
  • Tax expense: ₹19.60
  • Current tax: ₹18.40
  • Deferred tax: ₹1.20
  • Profit after tax: ₹510.70
  • Other comprehensive income (net of tax): ₹(2,847.36)
  • Total comprehensive income: ₹(2,336.66)
  • Earnings per share (₹5 each): ₹13.56 (Basic & diluted)

Half Year Ended September 30, 2026:

  • Total income: ₹666.15
  • Profit after tax: ₹587.42
  • Total comprehensive income: ₹4,538.92
  • Earnings per share: ₹15.59

Consolidated Financials (₹ in Million)

Quarter Ended September 30, 2026:

  • Total income: ₹211.06
  • Profit before tax: ₹188.00
  • Share of net profit of Associates: ₹2,129.46
  • Profit after tax: ₹2,820.10
  • Earnings per share: ₹74.87

Half Year Ended September 30, 2026:

  • Total income: ₹778.84
  • Profit after tax: ₹1,459.93
  • Earnings per share: ₹38.76

Dividend Details

  • Record Date: Friday, November 20, 2026
  • Payment Completion Date: On or before December 12, 2026

Assets and Liabilities Position (Standalone as at September 30, 2026)

  • Total Assets: ₹43,790.99 Million
  • Financial assets: ₹43,646.81 Million
  • Cash and cash equivalents: ₹63.05
  • Bank balances: ₹6,096.18
  • Loans: ₹168.88
  • Investments: ₹37,276.80
  • Other financial assets: ₹41.90
  • Non-financial assets: ₹144.18 Million
  • Total Liabilities and Equity: ₹43,790.99 Million
  • Equity: ₹40,963.42 Million
  • Share capital: ₹188.34
  • Other equity: ₹40,775.08

Cash Flow Statement (Standalone H1 FY27)

  • Net cash from operating activities: ₹727.81 Million
  • Net cash used in investing activities: ₹(1,279.20) Million
  • Net cash used in financing activities: ₹(376.96) Million
  • Net decrease in cash: ₹(928.35) Million

Significant Notes to Financials

1. The company operates in a single segment of making investments in group companies, earning income through dividends, interest, and gains on investments.

2. Consolidated financial results include:

  • Associate Companies: Kalyani Steels Limited (39.06%), KSL Holdings Private Limited (42.52%), Triumphant Special Alloys Pvt. Ltd. (45.51%), Kalyani Financial Services Private Limited (49.00%)
  • Joint Ventures: Automotive Axles Limited (35.52%), Meritor HVS (India) Limited (48.99%)

3. Nandi Engineering Limited (40.00%) and Synise Technologies Limited (46.77%) are not consolidated due to no/immaterial operations.

4. The main source of income is dividend on investments, generally received/accrued in the second quarter.

5. Previous quarter/year figures have been regrouped and reclassified for comparability.

Auditor's Review

P G Bhagwat LLP, Chartered Accountants, issued limited review reports stating that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement.