Board Meeting Details
The Board of Directors meeting was held on May 27, 2026, commencing at 4:30 PM and concluding at 6:45 PM.
Key Decisions Approved
1. Financial Results Approval
The Board considered and approved:
- Audited Financial Results (Consolidated and Standalone) for the quarter and financial year ended March 31, 2026
- Auditor's Report on the Audited Financial Results
- Confirmed that auditors provided Unmodified Opinion as per Regulation 33(3)(d) of SEBI LODR Regulations
2. Internal Auditor Re-appointment
Re-appointed S Lall Vikas & Co., Chartered Accountants (Registration No.: 000355N) as Internal Auditors for financial year 2026-27
Standalone Financial Results (Rs. in lakhs)
Income Statement FY2026:
- Revenue from operations: Rs 265,872.05
- Other income: Rs 208.31
- Total Income: Rs 266,080.36
- Total Expenses: Rs 256,983.83
- Profit before tax: Rs 9,095.87
- Total tax expense: Rs 2,397.11
- Profit after tax: Rs 6,698.76
- Other Comprehensive Income: Rs 0.04
- Total Comprehensive Income: Rs 6,698.76
- Basic EPS: Rs 11.08
- Diluted EPS: Rs 11.08
Balance Sheet as at March 31, 2026:
- Total Assets: Rs 13,175.08
- Equity Share Capital: Rs 604.84
- Other Equity: Rs 12,525.67
- Total Equity: Rs 13,130.51
- Total Liabilities: Rs 44.57
Cash Flow Statement FY2026:
- Net cash used in operating activities: Rs (1,656.08)
- Net cash from investing activities: Rs 1,813.41
- Net cash used in financing activities: Rs (96.05)
- Net increase in cash: Rs 61.28
Consolidated Financial Results (Rs. in lakhs)
Income Statement FY2026:
- Total Income: Rs 463,697.26
- Total Expenses: Rs 462,814.54
- Profit before tax: Rs 13,383.98
- Total tax expense: Rs 2,569.22
- Profit after tax: Rs 10,814.76
- Other Comprehensive Income: Rs 1.98
- Total Comprehensive Income: Rs 10,816.74
- Basic EPS: Rs 17.91
- Diluted EPS: Rs 17.91
Balance Sheet as at March 31, 2026:
- Total Assets: Rs 83,185.28
- Equity Share Capital: Rs 604.84
- Other Equity: Rs 23,175.19
- Total Equity: Rs 23,762.38
- Total Liabilities: Rs 59,422.90
Significant Subsidiary Transactions
Kundan Concentrates Private Limited:
- Company acquired 100% controlling interest for Rs 3,109.04 lakhs via share purchase agreement dated January 22, 2025
- Investment in redeemable preference shares (0.1% coupon, 19-year maturity) amounting to Rs 3,000 lakhs
- Investment in Inter-Corporate Deposits (ICDs) amounting to Rs 24,000 lakhs at 7.75% p.a. for 2 years
Kundan Gold Mines Private Limited:
- Investment in ICDs amounting to Rs 21,650 lakhs at 7.75% p.a. for 2 years
- Investment in rights issue amounting to Rs 2,300 lakhs
- Issued Compulsorily Convertible Debentures (CCDs) to Absolute Herbs Exports LLP on March 30, 2026
- CCDs converted to equity on May 20, 2026, changing status from subsidiary to associate company
Kundan Venture FZCO:
- Company subscribed to 70% stake in February 2025
- Investment of AED 35,000 made during current year
Regulatory and Legal Matters
Directorate of Revenue Intelligence (DRI):
- Search conducted on the Company on December 6, 2025
- Matter currently under review and pending
Income Tax Department:
- Survey under Section 133A conducted on January 28, 2026
NCLT Proceedings:
- Company was admitted under Corporate Insolvency Resolution Process (CIRP) pursuant to NCLT order dated February 11, 2022
- NCLT approved Resolution Plan on October 4, 2023
- Trading in equity shares suspended on BSE and NSE since October 4, 2023
- Company is process of obtaining revocation of suspension and re-listing approval
Entities Included in Consolidation
Subsidiaries:
1. Kundan Concentrates Private Limited
2. Kundan Exploration Private Limited
3. Kundan Ventures FZCO
Associates:
1. Kundan Gold Mines Private Limited
2. Kundan Minerals Care Private Limited (Subsidiary of Kundan Gold Mines Private Limited)
Auditor Information
- Statutory Auditors: Ashwani & Associates, Chartered Accountants (FRN: 000497N)
- Signing Partner: Avnish Misra (Membership No. 098795)
- Internal Auditors: S Lall Vikas & Co., Chartered Accountants (FRN: 000355N)