Document Dates
29th August 2026 (AGM Notice) and 26th May 2026 (Financial Statements)
Khaitan (India) Limited reported mixed financial results for FY26, showing strong revenue growth but facing operational challenges and audit qualifications. The company convened its 89th Annual General Meeting on 25th September 2026 to adopt the financial statements and approve the re-appointment of Mr. Gopal Mor as Independent Director for a second five-year term ending September 2031.
Financial Performance
Standalone performance showed revenue growth of 41% to ₹112.93 crore, though net profit decreased slightly to ₹6.06 crore from ₹6.98 crore in the previous year. The electrical goods trading segment drove performance with 44% revenue growth, while sugar division operations remained suspended due to working capital constraints. Consolidated results showed significantly higher figures of ₹11,222.72 crore revenue and ₹605.02 crore net profit, though these appear inconsistent with standalone numbers and may represent different reporting bases.
Operational Highlights
The company expanded with two new subsidiaries - Khaitan Strategy Limited (incorporated July 2025) and Khaitan Fans & Appliances Limited (incorporated August 2025). The sugar mill operations remain suspended indefinitely after incurring heavy losses, prompting auditors to question their classification as continuing operations.
Auditor Qualification
Statutory Auditors K.C. Bhattacherjee & Paul LLP issued a qualified opinion stating that the suspended sugar mill operations should have been classified as discontinued operations rather than continuing operations. They also emphasized matters regarding reconciliation of trade receivables, trade payables, loans, advances, claims recoverable and bank accounts.
Corporate Governance and Compliance
The board underwent significant changes with four independent directors resigning during FY26. The company disclosed extensive related party transactions totaling ₹645.79 crore in balances and ₹1.11 crore in goods purchases from relatives of directors. CSR spending fell short by ₹6.11 crore as no expenditure was made despite the 2% requirement.
Capital Structure and Position
The company maintained its share capital at ₹0.475 crore (47,50,000 equity shares) with total assets of ₹78.03 crore (standalone) and ₹7,802.08 crore (consolidated). Current ratio stood at 0.65 with debt-equity ratio of 0.16, indicating reasonable leverage but liquidity constraints.
Future Outlook
The company continues research for improving sugarcane yield and exploring ethanol blending opportunities while expanding electrical goods business through geographical expansion and online platforms.