Key Quantitative Figures

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹5,444.86 lakh
  • Total Income: ₹5,468.74 lakh
  • Profit Before Tax: ₹323.88 lakh
  • Total Tax Expense: ₹107.74 lakh
  • Profit After Tax: ₹216.14 lakh
  • Basic EPS: ₹5.94 (not annualized)

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹12,124.48 lakh
  • Total Income: ₹12,176.02 lakh
  • Profit Before Tax: ₹939.21 lakh
  • Total Tax Expense: ₹275.10 lakh
  • Profit After Tax: ₹664.11 lakh
  • Basic EPS: ₹18.25 (not annualized)

Balance Sheet as at September 30, 2026:

  • Total Assets: ₹26,888.93 lakh
  • Equity Share Capital: ₹363.90 lakh
  • Other Equity: ₹9,709.38 lakh
  • Total Current Liabilities: ₹11,903.68 lakh
  • Borrowings (current): ₹8,562.53 lakh
  • Trade Receivables: ₹14,121.21 lakh
  • Inventories: ₹1,441.46 lakh
  • Cash and cash equivalents: ₹79.82 lakh

Cash Flow for H1 FY27:

  • Net cash from operating activities: ₹(369.24) lakh
  • Net cash from investing activities: ₹(826.14) lakh
  • Net cash from financing activities: ₹1,251.94 lakh
  • Net increase in cash: ₹56.57 lakh

Dates of Action

  • Board Meeting Date: November 5, 2026 (2:00 PM to 3:55 PM)
  • Financial Period: Quarter and Half Year ended September 30, 2026
  • Review Report Date: November 5, 2026

Parties Involved

  • Statutory Auditors: M.P.Chitale & Co. (FRN: 101851W)
  • Stock Exchanges: BSE (Scrip Code: 513509) and NSE (Symbol: KALYANIFRG)
  • Signatories: Viraj G. Kalyani (Managing Director, DIN: 02268846) and Rohini G. Kalyani (Executive Chairperson, DIN: 00519565)
  • Auditor Partner: Sanat Ulhas Chitale (ICAI Membership No: 143700)

Auditor Disclaimer Opinion

The statutory auditors, M.P.Chitale & Co., issued a disclaimer of opinion due to four key issues:

1. Incomplete stock valuation methodology refinement affecting inventory quantification and valuation

2. Trade receivables, trade payables and stock with vendors subject to confirmations and reconciliations

3. Property, plant and equipment balances and GST input tax credit subject to reconciliations

4. Documentation process for internal financial controls over financial reporting still ongoing

Management Response

On Inventory Valuation: "We have Corrected all Live parts Inventory Rates for Consistency and adherence to IND AS-2. We received further Inputs from Auditors underline Calculations and have Plan to Incorporate the Same in the next iteration in Q3 FY 27."

On Balance Confirmations: "We received additional balance confirmations from both vendors and customers in Q2. Reconciliation of differences with standard reason codes will be provided for verification. We will get more balance confirmations over the next quarter to cover 80% of vendors and customers by value."

On Fixed Assets and GST: "Due to an SAP configuration error some tags are missing in Asset Register. So, Asset Master Data will be updated and any corrective entries would be made if required. We have shared the GST Reconciliation data for Q2 26. We received some Input from Auditor and will reconcile the differences if any."

On Internal Controls: "New policy and process documents are prepared for Finance and other critical departments which incorporate RCM controls. The company and management Opinion is that, company has adequate Financial Control Over Financial Reporting and take Required steps in Improving and Implementing the Financial Control Policies from time to time to have better Reporting System in Place."

Board Approvals

1. Approved unaudited standalone financial results for quarter and half year ended September 30, 2026 along with Limited Review Report

2. Granted in-principle approval for exploring options for raising funds by way of issue of equity shares and/or other eligible securities through permissible modes, subject to shareholder approval and statutory/regulatory approvals

Financial Impact

Financial results presented are subject to the qualifications mentioned in the auditor's disclaimer opinion. The exact financial impact of the unresolved issues (inventory valuation, balance confirmations, reconciliations) is unascertainable as per the auditors.

Capital Structure Impact

Paid-up equity share capital remained unchanged at ₹363.90 lakh (face value ₹10 each). The board's in-principle approval for fundraising may potentially impact capital structure pending shareholder and regulatory approvals.

#Tags: #KalyaniForge #SEBIDisclosure #FinancialResults #AuditorDisclaimer #RegulatoryCompliance #Neutral