Company Overview

Kalyani Investment Company Limited (BSE: 533302, NSE: KICL), a core investment company, has issued its Annual Report for FY 2025-26 and notice for its 17th Annual General Meeting scheduled for September 17, 2026, to be held virtually through VC/OAVM.

Financial Performance

Standalone Results: The company reported revenue from operations of ₹819.20 million (FY25: ₹828.60 million) and net profit of ₹511.17 million (FY25: ₹537.08 million). Total expenditure increased to ₹138.74 million from ₹91.99 million, primarily due to higher legal and professional fees of ₹103.31 million.

Consolidated Results: Consolidated net profit stood at ₹367.69 million, significantly lower than FY25's ₹715.44 million, primarily impacted by the company's 31.36% share in associate Hikal Limited's net loss of ₹488 million for FY26.

Dividend Declaration

The Board recommended a final dividend of ₹10 per equity share (100%) for FY26, involving a cash outflow of ₹43.65 million subject to TDS. The dividend is payable on or before September 25, 2026, if approved at the AGM, with record date set for August 14, 2026.

Investment Portfolio & Balance Sheet

The company's investment portfolio showed substantial growth, reaching ₹121,236.54 million at fair value (FY25: ₹90,632.18 million), driven by a ₹26.39 billion unrealized gain in equity investments. Major holdings include:

  • Bharat Forge Limited: ₹106,022.59 million (63,312,190 shares)
  • KSL Holdings Private Limited: ₹7,276.46 million (5,001,000 shares)
  • BF Utilities Limited: ₹2,302.70 million (6,195,046 shares)
  • Hikal Limited: 31.36% ownership, carrying amount ₹2,681.93 million

Total assets stood at ₹121,726.62 million, with investments comprising 97.45% of assets. Net worth reached ₹111,952.49 million (standalone) and ₹113,913.31 million (consolidated).

AGM Agenda & Corporate Governance

The 17th AGM will address three ordinary business items: adoption of financial statements, dividend declaration, and re-appointment of Mrs. Deeksha A. Kalyani as Non-Executive Non-Independent Director. The board comprises 6 directors (3 independent) with 4 meetings held in FY26. Remote e-voting will be available through NSDL from September 14-16, 2026.

Related Party Transactions & CSR

Significant related party transactions included dividend receipts: ₹506.50 million from Bharat Forge, ₹38.67 million from Hikal, ₹25.38 million from Kalyani Technoforge, and ₹32.51 million from KSL Holdings. CSR expenditure of ₹2.32 million exceeded the mandated ₹2.12 million obligation, focused on education and health initiatives through Akutai Kalyani Charitable Trust.

Key Management & Shareholding

Key management personnel remuneration totaled ₹25.65 million, with Chairman Amit B. Kalyani receiving ₹10.02 million. Promoters hold 74.97% of the 4,365,306 outstanding shares, with FIIs at 0.65% and Indian public at 20.12%. The company maintains a debt-free capital structure with zero debt-equity ratio.