The financial results were reviewed by the statutory auditors, Chandabhoy & Jassoobhoy Chartered Accountants (Firm Registration No. 101647W), who issued a Limited Review Report with a qualified conclusion.

Financial Performance Highlights (₹ in lakhs)

Income Statement:

  • Quarter Ended September 30, 2026 (Q2 FY27):
  • Revenue from Operations: ₹995.20
  • Other Income: ₹134.74
  • Total Income: ₹1,129.94
  • Profit before Exceptional Items & Tax: ₹348.03
  • Total Tax Expense: ₹88.39
  • Net Profit for the period: ₹259.64
  • Total Comprehensive Income for the period: ₹258.32
  • Basic & Diluted EPS (₹5 face value): ₹2.38
  • Half Year Ended September 30, 2026 (H1 FY27):
  • Revenue from Operations: ₹1,950.34
  • Other Income: ₹254.41
  • Total Income: ₹2,204.75
  • Profit before Exceptional Items & Tax: ₹656.10
  • Total Tax Expense: ₹161.89
  • Net Profit for the period: ₹494.21
  • Total Comprehensive Income for the period: ₹491.61
  • Basic & Diluted EPS (₹5 face value): ₹4.52
  • Comparative Figures (Quarter Ended September 30, 2025 - Q2 FY26):
  • Revenue from Operations: ₹858.56
  • Other Income: ₹34.84
  • Total Income: ₹893.40
  • Loss before Exceptional Items & Tax: ₹(3,568.67) [after accounting for Exceptional Item of ₹3,648.83]
  • Total Tax Expense: ₹(3.92)
  • Net Loss for the period: ₹(3,564.75)
  • Total Comprehensive Loss for the period: ₹(3,563.95)
  • Basic & Diluted EPS (₹5 face value): ₹(32.62)

Balance Sheet Highlights (as of September 30, 2026):

  • Total Assets: ₹14,023.52 lakhs (vs. ₹13,780.66 lakhs on March 31, 2026)
  • Non-Current Assets: ₹9,824.41 lakhs (incl. Property, plant and equipment: ₹2,225.07; Right of use Assets: ₹4,019.91)
  • Current Assets: ₹4,199.11 lakhs (incl. Investments: ₹1,921.22; Trade Receivables: ₹441.96; Cash and cash equivalents: ₹26.17)
  • Total Equity: ₹6,033.14 lakhs (vs. ₹5,678.11 lakhs on March 31, 2026)
  • Paid-up Equity Share Capital: ₹546.32 lakhs (unchanged)
  • Non-Current Liabilities: ₹5,700.92 lakhs (primarily Lease Liabilities of ₹5,632.33)
  • Current Liabilities: ₹2,289.46 lakhs (incl. Lease Liabilities: ₹1,737.15)

Cash Flow Statement (Half Year Ended September 30, 2026):

  • Net Cash from Operating Activities: ₹783.12 lakhs
  • Net Cash used in Investing Activities: ₹(505.89) lakhs
  • Net Cash used in Financing Activities: ₹(446.89) lakhs
  • Net decrease in Cash and Cash Equivalents: ₹(469.66) lakhs
  • Cash and Cash Equivalents at period end: ₹26.17 lakhs (vs. ₹495.83 lakhs at beginning of period)

Key Notes and Disclosures

1. Qualified Audit Review:

The statutory auditors issued a qualified conclusion on their review. They drew attention to Note 5 concerning ongoing litigation with Deendayal Port Trust (DPT). The dispute involves DPT's demand for transfer/upfront fees for a change in the company name and an increase in lease rent for leasehold lands, as well as the renewal of said leases. Due to the pending litigation, no provision for the incremental liability (including interest) or any impact on the recognized leased assets has been made in these financial results. Depreciation on assets constructed on leasehold land continues to be charged, and the right-to-use lease assets continue to be recognized based on the lease rent and period determined in earlier years. The final outcome of this matter may impact the company's profits and its recognized right-to-use lease assets and lease liabilities. Financial impact not quantified in the disclosure.

2. Sale of Subsidiary (KMLL):

The company completed the transfer of its 100% equity and preference stake in Kesar Multimodal Logistics Limited (KMLL) to DP World Multimodal Logistics on September 10, 2025. A loss on this sale of investments, amounting to ₹3,648.83 lakhs, was recorded as an exceptional item in the comparative period (Q2 and H1 FY26). The company had previously provided for impairment of loans and investments in KMLL of ₹6,858.33 lakhs as of March 31, 2022.

3. Dividend:

The company paid a dividend of ₹136.58 lakhs during the half-year ended September 30, 2026, as reflected in the financing activities of the cash flow statement.

4. Segment Information:

The company is engaged solely in the Bulk Liquid Storage Business at Kandla, with no other reportable segments.

The results have been uploaded to the company's website at www.kesarinfra.com.