Key Financial Figures (Standalone - FY2026)
- Total Income: ₹18,168.93 lakhs
- Total Expenses: ₹21,288.00 lakhs
- Net Loss: ₹311.91 lakhs
- EPS: ₹(2.89) per share (face value ₹5)
- Pa-up Equity Capital: ₹540.11 lakhs
- Reserves: ₹2,183.29 lakhs (excluding revaluation reserves)
Key Financial Figures (Consolidated - FY2026)
- Total Income: ₹18,168.93 lakhs
- Total Expenses: ₹21,288.00 lakhs
- Net Loss: ₹721.85 lakhs (includes share of associate loss of ₹409.95 lakhs)
- EPS: ₹(6.68) per share (face value ₹5)
Quarterly Performance (Standalone Q4 FY2026)
- Revenue from Operations: ₹445.15 lakhs
- Other Income: ₹10.36 lakhs
- Net Loss: ₹140.71 lakhs
- EPS: ₹(1.30) per share
Assets and Liabilities Position (Standalone as at 31-03-2026)
- Total Assets: ₹35,211.21 lakhs
- Non-Current Assets: ₹23,213.92 lakhs (including PPE ₹543.13 lakhs, Investments ₹1,389.66 lakhs)
- Current Assets: ₹11,997.28 lakhs (including Inventories ₹170.24 lakhs, Trade Receivables ₹342.36 lakhs)
- Equity: ₹27,233.95 lakhs
- Non-Current Liabilities: ₹103.29 lakhs
- Current Liabilities: ₹694.44 lakhs (including Borrowings ₹528.87 lakhs)
Segment-wise Performance (FY2026 Standalone)
- Fertiliser: Revenue ₹319.68 lakhs, Profit ₹38.35 lakhs
- Footwear: Revenue ₹1,024.14 lakhs, Loss ₹90.98 lakhs
- Logistics: Revenue ₹213.85 lakhs, Loss ₹22.61 lakhs
- Drone: Revenue ₹28.54 lakhs, Loss ₹4.51 lakhs
- Hotel: Revenue ₹168.48 lakhs, Loss ₹95.37 lakhs
- Digital Media: Revenue ₹2.40 lakhs, Loss ₹8.30 lakhs
- FMCG: Revenue ₹1.92 lakhs, Loss ₹8.14 lakhs
Significant Notes and Disclosures
Loan Facilities
- Availed unsecured loan facility of ₹34 crores from Satluj Credit Holdings Private Limited at 24% p.a. interest for business operations
- Availed unsecured loan facility of ₹2 crores from Transworld Breweries and Distilleries Private Limited at 24% p.a. interest for business operations and working capital
Government Subsidy
- ₹80 lakhs subsidy receivable from Government pertaining to FY2010-11, 2012-13, and 2013-14, actively pursuing documentation
Property Sale Issue
- During FY2023-24, sold land and plant & machinery at Ennore to Coromandel International Limited for ₹50.28 crore
- Sub-Registrar valued assets higher at ₹128.74 crore and ₹8.51 crore respectively
- Stamp duty paid on higher values, company plans to seek valuation from Income Tax Valuation Officer
Legal Proceedings
- Collector of Nilgiris initiated proceedings for repossession of land in Coonoor earmarked for public use
- Company challenged through writ petition in Madras High Court, matter pending adjudication
Income Tax Notice
- Received notice under Section 148A(1) dated 21st March 2026 for FY2021-22
- Proposes disallowance of expenses amounting to ₹3,37,04,222, resulting in demand of ₹1,16,26,892
- Company believes demand is erroneous, no provision made
ESOP Scheme
- Shareholders approved KICL Employee Stock Option Scheme through special resolution
- 46,86,000 ESOPs to be issued, not yet implemented as of 31st March 2026
Delisting Application
- Applied on 16th March 2026 for voluntary delisting from Calcutta Stock Exchange
- Awaiting final order, undertaken to streamline compliance and reduce administrative costs
Land Allotment
- Applied to SIPCOT for allotment of land at Melur, Tamil Nadu costing ₹32.13 crores for factory setup
- Allotment letter received 26 February 2026, payment made 24 May 2026 with interest of ₹31 lakhs
- Lease arrangement to be recognized from FY2026-27
Labour Code Impact
- New Labour Codes notified on 21st November 2025
- Estimated impact on employee benefits: 13.81% of qualifying wages, related liabilities approximately 6.58% (₹3.96 lakhs)
Audit Qualifications
The auditors, Ray & Ray Chartered Accountants, issued qualified opinion with six major concerns:
1. Government Subsidy: ₹80 lakhs subsidy receivable without documentary evidence, outstanding over 8 years, no provision made
2. Balance Confirmations: Missing confirmations for:
- Promoters: ₹1.80 crores
- Trade receivables: ₹33.49 crores
- Trade payables: ₹23.24 crores
- Vendor advances: ₹15.06 crores
- Advances from customers: ₹3.99 crores
- Other loans payable: ₹52.88 crores
- Related party balances: ₹1.44 crores out of ₹15.26 crores
3. GST Reconciliation:
- GST input credit: ₹10.41 crores
- GST output liability: ₹10.55 crores
- GST payable debit balance: ₹1.41 crores
- No reconciliation with GST portal and GSTR-2B
4. Inventory Valuation:
- Total inventory: ₹17.02 crores
- No detailed valuation reports for ₹10.98 crores
- No tracking of non-moving and slow-moving inventories
5. Land Litigation: Unable to ascertain potential liability from Nilgiris land repossession case
6. Payroll Reconciliation:
- Statutory deductions liability: PF ₹40.68 lakhs, ESI ₹9.38 lakhs, PT ₹30.03 lakhs
- Salary payable: ₹2.56 crores
- No reconciliation with payroll records and statutory payments
Management Response to Qualifications
Management maintains that balances are correctly recorded, is pursuing confirmations and reconciliations, and believes no provisions are necessary for disputed items. Any differences identified will be adjusted in subsequent periods.
Going Concern Basis
Despite current losses, management believes adequate financial resources exist to continue operations for foreseeable future.