Key Quantitative Figures - Standalone (₹ lakhs)
Quarter Ended September 30, 2026:
- Total Income: ₹80.02 lakh
- Total Expenses: ₹74.77 lakh
- Loss before exceptional items and tax: ₹(94.75) lakh
- Exceptional items: ₹594.08 crore (gain)
- Profit before tax: ₹584.51 crore
- Tax expense: ₹97.03 lakh
- Net Profit: ₹487.57 crore
- Earnings Per Share (EPS): ₹1.57
- Total Comprehensive Income: ₹492.56 crore
Half Year Ended September 30, 2026:
- Total Income: ₹94.37 lakh
- Total Expenses: ₹476.70 lakh
- Loss before exceptional items and tax: ₹(382.33) lakh
- Exceptional items: ₹534.08 crore (gain)
- Profit before tax: ₹555.85 crore
- Tax expense: ₹92.64 lakh
- Net Profit: ₹463.21 crore
- Earnings Per Share (EPS): ₹1.49
- Total Comprehensive Income: ₹466.37 crore
Key Quantitative Figures - Consolidated (₹ lakhs)
Quarter Ended September 30, 2026:
- Revenue from operations: ₹8,448.75 lakh
- Other income: ₹48.43 lakh
- Total Income: ₹9,197.18 lakh
- Total Expenses: ₹10,892.96 lakh
- Loss before exceptional items and tax: ₹(1,695.78) lakh
- Exceptional items: ₹594.08 crore (gain)
- Profit before tax: ₹424.51 crore
- Tax expense: ₹97.03 lakh
- Net Profit: ₹327.47 crore
- Earnings Per Share (EPS): ₹1.05
- Total Comprehensive Income: ₹340.41 crore
Half Year Ended September 30, 2026:
- Revenue from operations: ₹16,214.82 lakh
- Other income: ₹506.36 lakh
- Total Income: ₹17,021.18 lakh
- Total Expenses: ₹20,779.79 lakh
- Loss before exceptional items and tax: ₹(3,758.61) lakh
- Exceptional items: ₹594.08 crore (gain)
- Profit before tax: ₹218.22 crore
- Tax expense: ₹92.64 lakh
- Net Profit: ₹136.59 crore
- Earnings Per Share (EPS): ₹0.40
- Total Comprehensive Income: ₹136.69 crore
Exceptional Items Details
The Company recognized an exceptional gain of ₹594.08 crore in both standalone and consolidated results for the quarter and half year ended September 30, 2026. This relates to an arbitral award dated November 09, 2026, in favor of the Company against Kesoram Textiles Mil Limited for recovery of outstanding receivables. The award amount aggregates to ₹5,989.35 lakhs, comprising principal of ₹955.00 lakhs and interest of ₹5,034.35 lakhs up to November 08, 2026. The Company recognized principal and interest accrued up to September 30, 2026, aggregating to ₹5,940.83 lakhs.
Change in Control Event
Certain erstwhile members of the Promoter and Promoter Group entered into a Share Purchase Agreement dated December 04, 2025, with Frontier Warehousing Limited (Acquirer) for the sale of 13,29,69,279 equity shares representing 42.80% of equity share capital. The acquisition was completed on September 12, 2026, resulting in a change in promoters/control and management of the Company. The acquirer has provided a letter of support to provide financial assistance to cover all liabilities falling due in the foreseeable future.
Historical Impairment Provisions
The disclosure notes historical impairment provisions recognized in previous periods:
- September 30, 2025: Impairment of ₹10,810.32 lakhs on investment in and loan to Cygnet Industries Limited
- September 30, 2025: Waiver of outstanding interest on loan to subsidiary of ₹4,424.06 lakhs
- September 30, 2025: Provision of ₹4,172.11 lakhs on remeasurement of factory land at KSPF unit
Segment Information
The Group has a single reportable segment - Rayon, Transparent Paper and Chemicals. Share of profit/loss from joint venture (Gondkhari Coal Mining Limited) is ₹Nil for all periods presented.
Balance Sheet Highlights (Standalone as of September 30, 2026)
- Total Assets: ₹40,307.07 lakh
- Non-current Assets: ₹32,953.72 lakh (including Property, plant and equipment: ₹13,267.22 lakh)
- Current Assets: ₹7,353.29 lakh
- Total Equity: ₹35,168.99 lakh
- Current Liabilities: ₹1,138.02 lakh
Cash Flow Highlights (Standalone half year ended September 30, 2026)
- Net cash used in operating activities: ₹(144.70) lakh
- Net cash generated from investing activities: ₹7,250.59 lakh
- Net decrease in cash and cash equivalents: ₹(119.54) lakh
- Cash and cash equivalents at period end: ₹3.64 lakh
Auditor Review
The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors on November 12, 2026. Statutory auditors Walker Chandiok & Co LLP issued an unmodified review report on both standalone and consolidated financial results.