KIOCL Limited announced the audited financial results for the quarter and year ended March 31, 2026, following a board meeting held on May 27, 2026. The meeting commenced at 10:30 AM IST and concluded at 3:00 PM IST.
Financial Performance
Quarter Ended March 31, 2026 (Q4 FY26):
- Net Sales/Income from Operations: ₹220.33 crore (including Other Operating Income of ₹2.25 crore)
- Other Income: ₹35.74 crore
- Total Revenue: ₹256.07 crore
- Total Expenses: ₹201.67 crore
- Profit Before Tax: ₹54.40 crore
- Tax Expenses: ₹1.01 crore (Deferred tax)
- Profit After Tax: ₹53.39 crore
- Other Comprehensive Income: ₹5.07 crore
- Total Comprehensive Income: ₹58.46 crore
- Basic & Diluted EPS: ₹0.88
Year Ended March 31, 2026 (FY26):
- Net Sales/Income from Operations: ₹613.46 crore (including Other Operating Income of ₹2.27 crore)
- Other Income: ₹94.80 crore
- Total Revenue: ₹708.26 crore
- Total Expenses: ₹696.37 crore
- Profit Before Tax: ₹11.89 crore
- Tax Expenses: ₹4.68 crore (Deferred tax credit)
- Profit After Tax: ₹16.57 crore
- Other Comprehensive Income: ₹8.15 crore
- Total Comprehensive Income: ₹24.72 crore
- Basic & Diluted EPS: ₹0.27
Segment-wise Performance (Q4 FY26)
- Pellet Plant: Revenue ₹2,203.3 crore, Segment Result ₹10.79 crore
- Pig Iron Plant: Revenue ₹0.75 crore, Segment Result ₹0.75 crore
- Unallocable: Interest income ₹33.33 crore, Other income ₹2.25 crore
Assets and Liabilities (as of March 31, 2026)
- Total Assets: ₹2,343.30 crore
- Non-Current Assets: ₹1,172.33 crore (including Property, Plant & Equipment ₹2,241.46 crore, Capital Work-in-progress ₹1,665.73 crore, Right of use assets ₹16.14 crore, Other Intangible Assets ₹553.28 crore)
- Current Assets: ₹1,170.97 crore (including Inventories ₹140.11 crore, Trade Receivables ₹35.39 crore, Cash & Cash Equivalents ₹74.64 crore, Bank Balances ₹751.19 crore)
- Total Equity: ₹1,736.23 crore
- Equity Share Capital: ₹607.75 crore
- Other Equity: ₹1,128.48 crore
- Total Liabilities: ₹606.07 crore
- Non-Current Liabilities: ₹260.40 crore
- Current Liabilities: ₹346.67 crore
Governance and Compliance Issues
The auditor's report highlighted several governance concerns:
- The company does not have Independent Directors and hence has not constituted an Audit Committee as required by the Companies Act, 2013 and Listing Regulations
- The company does not have a Woman Director as required
- The company does not have the requisite number of required Directors
- The company has not constituted a Nomination and Remuneration Committee
- In the absence of an Audit Committee, the Board of Directors reviewed and approved the audited financial results
Operational Highlights and Asset Status
1. Kudremukh Mining Operations: Suspended since 2006 due to Supreme Court order. Assets value reduced to NIL, but freehold land of 114.31 hectares remains in books at ₹29.05 lakhs
2. Blast Furnace Unit (BFU): Not in operation since 2009. Based on valuation report by independent valuer, no impairment recognized as recoverable amount exceeds carrying value. Backward integration project (Coke oven) entrusted to M/s Tuaman Engineering Limited with technology from M/s CIMFR, Dhanbad
3. ROU Leased Land:
- 17,483 sq. mtrs 99-year leasehold land from KIADB classified under ROU
- 52.87 acres land (₹657.25 lakhs) taken under 20-year lease cum sale from KIADB for railway siding construction, lease valid till December 29, 2028
4. Devadari Iron Ore Mines: Capital expenditure of ₹5,454.96 crore (including NPV, CA, stamp duty, cess, registration charges) classified as mining right under intangible assets. Company has not received possession of forest land or working permission from Government of Karnataka to commence mining activities. Amortization will begin upon start of mining operations
Additional Information
- The financial results are subject to review by the Comptroller and Auditor General of India under Section 143(6) of the Companies Act, 2013
- Statement of Deviations and Variations (Regulation 32 of SEBI LODR) is not applicable to the company
- Figures for previous periods have been regrouped/reclassified to conform to current year presentation