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Latest filing: 2026-09-01 20:19
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Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
14 announcements match the current filters (relevance ≥ 5).
Kridhan Infra Appoints U B Lakhani & Co as Statutory Auditor Following Predecessor Resignation
Kridhan Infra Limited announced the appointment of M/s U B Lakhani & Company (FRN: 105532W) as Statutory Auditors to fill a casual vacancy caused by the resignation of Jignesh Savla & Associates effective August 31, 2026. The Board has also recommended U B Lakhani & Company for a 5-year term from the 20th AGM to the 25th AGM, subject to shareholder approval. The company continues to operate under severe financial distress with a negative net worth of ₹-267 Cr and annual TTM revenue of ₹3 Cr.
Confidence: HIGH
What changedJignesh Savla & Associates resigned as statutory auditor on August 31, 2026; U B Lakhani & Company was appointed in casual vacancy and recommended for a 5-year term.
Why it mattersMid-tenure statutory auditor resignations can indicate audit or governance challenges, particularly critical for a distressed company with ₹-267 Cr in net worth.
New Auditor Term: 5 consecutive yearsEffective Date of Resignation: August 31, 2026Effective Date of Casual Appointment: September 01, 2026
📅 Short termMarket participants will assess the reasons behind the sudden auditor cessation and monitor filings for any audit qualifications or disagreements.
📈 Long termLimited operational impact, but effective statutory oversight is essential given the company's financial turnaround needs and severe capital erosion.
⚠ Risk flags
- Auditor resignation mid-tenure creates governance overhang
- Severe negative net worth (-₹267 Cr) and high leverage
- Shrinking business scale with TTM revenue of only ₹3 Cr
Key Highlights
Resignation of previous Statutory Auditor Jignesh Savla & Associates effective August 31, 2026
Appointment of M/s U B Lakhani & Company to fill casual vacancy from September 01, 2026
Recommended for a 5-year consecutive term from the conclusion of the 20th AGM to the 25th AGM
Board meeting approving the appointment concluded at 7:00 P.M. on September 01, 2026
👀 What to Watch
Track the detailed reasons for the previous auditor's resignation when filed in Annexures/Form ADT-4, and watch for shareholder voting outcomes at the upcoming 20th AGM.
Kridhan Infra: Statutory Auditor Jignesh Savla & Associates Resigns Effective Aug 31, 2026
Kridhan Infra Limited announced that its statutory auditor, M/s. Jignesh Savla & Associates (FRN: 127654W), has resigned effective August 31, 2026. The intimation was filed under Regulation 30 of the SEBI LODR Regulations on September 01, 2026. This comes against the backdrop of distressed company financials, with a negative net worth of Rs -267 Cr and a market capitalization of just Rs 22 Cr. Investors should monitor corporate governance disclosures and the appointment of the successor auditor.
Confidence: HIGH
What changedM/s. Jignesh Savla & Associates stepped down as statutory auditor of Kridhan Infra Limited effective August 31, 2026.
Why it mattersMid-tenure statutory auditor resignations raise governance questions, particularly for companies operating with negative net worth (Rs -267 Cr) and high leverage.
Effective date of resignation: August 31, 2026Auditor Firm Registration No.: 127654WMarket Cap: Rs 22 CrNet Worth: Rs -267 Cr
📅 Short termAuditor exits typically create near-term governance uncertainty and negative sentiment for micro-cap stocks.
📈 Long termThe company's long-term standing depends on restoring financial solvency, stabilizing leadership, and maintaining transparent audit quality.
⚠ Risk flags
- Auditor resignation creates governance and disclosure uncertainty
- Severely negative net worth of Rs -267 Cr
Key Highlights
Statutory auditor M/s. Jignesh Savla & Associates (FRN: 127654W) tendered resignation.
Resignation is effective from August 31, 2026.
Intimation submitted to stock exchanges on September 01, 2026 under Regulation 30.
👀 What to Watch
Track the appointment of a new statutory auditor, detailed reasons in the full resignation annexure, and any subsequent audit qualifications in upcoming quarterly filings.
Kridhan Infra Statutory Auditor Jignesh Savla & Associates Resigns Effective August 31, 2026
Kridhan Infra Limited has informed stock exchanges that its Statutory Auditor, M/s. Jignesh Savla & Associates (FRN: 127654W), has resigned effective August 31, 2026. The intimation was formally submitted on September 01, 2026, under Regulation 30 of SEBI LODR Regulations. The company currently faces strained financials with a negative net worth of Rs -267 Cr and TTM revenue of Rs 3 Cr.
Confidence: HIGH
What changedM/s. Jignesh Savla & Associates stepped down as the Statutory Auditor of Kridhan Infra Limited on August 31, 2026.
Why it mattersAuditor resignations can signal corporate governance, reporting, or operational challenges, especially in a financially distressed entity with negative net worth (Rs -267 Cr).
Effective date of resignation: August 31, 2026Auditor FRN: 127654WCompany Net Worth: Rs -267 CrMarket Cap: Rs 22 Cr
📅 Short termLikely to create negative sentiment and heighten governance scrutiny around the company's financial reporting timeline.
📈 Long termThe company needs to stabilize governance, appoint an established auditor, and address structural balance sheet distress.
⚠ Risk flags
- Auditor resignation
- Negative net worth of Rs -267 Cr
- Strained operational cash flows and low revenue base (TTM revenue Rs 3 Cr)
Key Highlights
Statutory Auditor M/s. Jignesh Savla & Associates tendered resignation effective August 31, 2026
Firm Registration Number (FRN) of the resigning auditor is 127654W
Intimation submitted to BSE and NSE on September 01, 2026 by Executive Director & CFO Mithlesh Jaiswal
👀 What to Watch
Track the appointment of the incoming statutory auditor and watch for any disclosures or reasons highlighted in the detailed resignation letter regarding audit qualifications or concerns.
Kridhan Infra Q1 FY27 Results: Net Worth Remains Fully Eroded; KMPs Authorized
Kridhan Infra Limited reported its Q1 FY27 results on August 13, 2026, with auditors highlighting that the company's net worth remains fully eroded due to accumulated losses. The company continues to operate as a 'going concern' based on planned cost reductions and recent efforts to increase the equity base through preferential allotments. Notably, the consolidated financial results exclude two significant entities: Readymade Steel Singapore Pte. Limited (Subsidiary) and Vijay Nirman Company Private Limited (Associate). The board also formally authorized three Key Managerial Personnel (KMP) to determine the materiality of future disclosures.
Confidence: HIGH
What changedThe company has approved its Q1 FY27 financial results and updated its authorized personnel for regulatory disclosures.
Why it mattersThe continued erosion of net worth and the exclusion of key subsidiaries from consolidated results indicate significant financial and reporting stress for a company with a market cap of only Rs 22 Cr.
Net Worth: Rs -267 CrMarket Cap: Rs 22 CrDebt: Rs 12 CrPromoter Holding: 40.05%TTM Revenue: Rs 3 Cr
📅 Short termThe stock is likely to remain under pressure due to the auditor's emphasis on eroded net worth and the lack of full consolidated visibility.
📈 Long termThe company's survival is structurally dependent on its ability to raise capital and execute its historical order book, which has been stalled by liquidity mismatches.
⚠ Risk flags
- Eroded Net Worth
- Going Concern Uncertainty
- Exclusion of Subsidiaries from Consolidation
- High Debt relative to Market Cap
Key Highlights
Net worth remains fully eroded against a reported net worth of -Rs 267 Cr as per latest context
Consolidated results exclude two major entities: Readymade Steel Singapore and Vijay Nirman Company
Board meeting lasted 4 hours, concluding at 6:00 PM on August 13, 2026
Authorization of 3 KMPs for materiality disclosures effective immediately
Going concern status is dependent on successful preferential allotment of equity/warrants
👀 What to Watch
Investors should monitor the status of the preferential allotment and the potential re-inclusion of major subsidiaries in consolidated reporting to assess the true scale of operations.
SEBI Issues Show Cause Notice to Kridhan Infra for Accounting and Governance Lapses
Kridhan Infra Limited has received a Show Cause Notice (SCN) from SEBI dated August 12, 2026, regarding alleged non-compliance with LODR regulations. The notice highlights failure to recognize interest on bank loans in FY23 financial statements and significant delays in filling Key Managerial Personnel (KMP) roles. Specifically, the Managing Director and CFO positions were vacant for approximately 16 and 19 months respectively. Given the company's negative net worth of ₹-267 Cr and low TTM revenue of ₹3 Cr, these regulatory proceedings add substantial risk to an already distressed entity.
Confidence: HIGH
What changedSEBI has initiated formal adjudication proceedings against the company for historical accounting irregularities and leadership vacancies.
Why it mattersThis filing confirms severe internal control weaknesses and potential under-reporting of interest expenses, which is critical for a company with ₹12 Cr in debt and a deeply negative net worth.
MD Vacancy Duration: 16 monthsCFO Vacancy Duration: 19 monthsNet Worth: ₹-267 CrTTM Revenue: ₹3 CrMarket Cap: ₹22 Cr
📅 Short termThe stock is likely to face downward pressure as regulatory scrutiny on governance and accounting integrity typically triggers negative sentiment.
📈 Long termThe company's structural viability remains highly questionable given the combination of regulatory action, negative net worth, and minimal revenue generation.
⚠ Risk flags
- Governance failure (KMP vacancies)
- Accounting irregularities (Ind AS non-compliance)
- Severe financial distress (Negative net worth)
- Regulatory adjudication risk
Key Highlights
SCN received on August 12, 2026, regarding alleged violations of Ind AS 1, 23, 32, and 109 in FY23 financials.
Managing Director position remained vacant for 16 months from October 10, 2022, to February 12, 2024.
CFO position remained vacant for over 19 months from July 1, 2022, to February 12, 2024.
Alleged failure to disclose departures from accounting standards in financial statements.
Company reports a negative net worth of ₹-267 Cr against a small market cap of ₹22 Cr.
👀 What to Watch
Investors should monitor the outcome of the SEBI adjudication proceedings for potential monetary penalties and further regulatory restrictions. Closely watch for any restatement of FY23 financials regarding interest liabilities.
Kridhan Infra Announces Major Management Overhaul; MD Resigns, New WTD and ED Appointed
Kridhan Infra Limited has undergone a significant leadership restructuring effective July 21, 2026. Managing Director Gautam Suri has resigned due to medical reasons, while the company has appointed Krishnaprasad Sunder Rao as Whole Time Director and promoted CFO Mithlesh Jaiswal to Executive Director, both for 5-year terms. These changes occur against a backdrop of severe financial distress, with the company reporting a negative net worth of ₹-267 Cr and a small TTM revenue base of only ₹3 Cr. A new Independent Director and Company Secretary have also been appointed to the board.
Confidence: HIGH
What changedThe company replaced its Managing Director and added three new directors (WTD, ED, ID) and a new Company Secretary to its leadership team.
Why it mattersFor a micro-cap company with a market cap of only ₹25 Cr and significant financial instability, a complete management overhaul is a critical event that could either lead to a turnaround or further operational disruption.
Market Cap: ₹25 CrNet Worth: ₹-267 CrTTM Revenue: ₹3 CrAppointment Term: 5 yearsDebt: ₹12 Cr
📅 Short termThe stock may experience volatility as the market processes the exit of the MD and the entry of new leadership in a financially stressed environment.
📈 Long termThe structural significance depends on whether the new team can leverage the reported ₹3,860 Cr order book to reverse the negative net worth and scale the current low revenue levels.
⚠ Risk flags
- Leadership transition risk
- Negative net worth (₹-267 Cr)
- High debt relative to current revenue
- Small revenue base (₹3 Cr TTM)
Key Highlights
Resignation of Managing Director Gautam Suri effective July 21, 2026, due to medical reasons.
Appointment of Krishnaprasad Sunder Rao as Whole Time Director for a 5-year term.
Promotion of current CFO Mithlesh Jaiswal to Additional Director (Executive Director) for 5 years.
Appointment of Badatala Sreenivasa Rao as an Independent Director for a 5-year term.
Appointment of Ms. Ekta Rathod as Company Secretary and Compliance Officer effective July 21, 2026.
👀 What to Watch
Investors should monitor the new management's ability to address the company's negative net worth of ₹-267 Cr and execute the reported ₹3,130 Cr bid pipeline. Watch for upcoming quarterly results to see if the leadership change improves operational execution.
Kridhan Infra FY26 Results: Auditors Issue Qualified Opinion Over Net Worth Erosion
Kridhan Infra Limited has released its audited financial results for the year ended March 31, 2026, which include a qualified opinion from the statutory auditors. The auditors pointed out that accumulated losses have resulted in the erosion of the company's net worth, creating uncertainty regarding its ability to continue as a going concern. Management is attempting to mitigate these risks through cost-reduction measures and has recently sought to increase its equity base via preferential allotments of equity and warrants. While the company reported a net profit for the period, the structural financial weakness remains a significant concern.
Key Highlights
Statutory auditors M/s Jignesh Savla & Associates issued a qualified opinion on both standalone and consolidated FY26 results.
Accumulated losses have led to a complete erosion of the company's net worth as of March 31, 2026.
Auditors highlighted material uncertainty regarding the company's status as a 'going concern' due to financial distress.
Management is relying on recent preferential allotments of equity/warrants to support business growth and liquidity.
The Board approved the results in a meeting held on May 30, 2026, concluding at 12:15 PM.
👀 What to Watch
Investors should exercise high caution as a qualified audit opinion regarding net worth erosion is a major red flag. Avoid fresh exposure until the company demonstrates a sustainable turnaround in its net worth and clears auditor qualifications.
Kridhan Infra Allots 1.2 Crore Equity Shares on Warrant Conversion at ₹4.05 Per Share
Kridhan Infra Limited has successfully converted warrants into 1,20,00,000 fully paid-up equity shares. The allotment follows the receipt of the remaining 75% of the issue price from three specific investors, including Shri Bajrang Commodity LLP. The shares were issued at a price of ₹4.05 each, resulting in a total capital infusion of approximately ₹4.86 crore. This move strengthens the company's equity base and provides immediate liquidity for operations.
Key Highlights
Allotment of 1,20,00,000 equity shares of face value ₹2 each
Issue price set at ₹4.05 per share, including a premium of ₹2.05
Total fund mobilization of ₹4.86 crore through warrant conversion
Major allotment to Shri Bajrang Commodity LLP (72,00,000 shares) and two individual investors
Conversion completed after receiving the balance 75% of the total issue price
👀 What to Watch
Investors should note the equity dilution resulting from this conversion while acknowledging the capital infusion. Monitor how the company utilizes the ₹4.86 crore to improve its infrastructure project execution and debt profile.
Kridhan Infra Allots 48 Lakh Equity Shares via Warrant Conversion at ₹4.05 per Share
Kridhan Infra Limited has successfully allotted 48,00,000 fully paid-up equity shares following the conversion of warrants previously issued on a preferential basis. The allotment was made to four specific investors, including the Kapasi family and Chaitali Atish Laddad, with each receiving 12,00,000 shares. The conversion occurred at an issue price of ₹4.05 per share, which includes a premium of ₹2.05. This action follows the receipt of the remaining 75% balance of the issue price, totaling approximately ₹1.94 crore in capital infusion.
Key Highlights
Allotment of 48,00,000 equity shares of face value ₹2 each upon warrant conversion
Total capital raised in this tranche amounts to ₹1,94,40,000
Issue price set at ₹4.05 per share, including a premium of ₹2.05 per share
Four investors participated equally, each receiving 12,00,000 shares
Conversion follows the successful receipt of the balance 75% of the total issue price
👀 What to Watch
Investors should note the minor equity dilution and monitor the company's utilization of these funds for operational growth or debt reduction.
Kridhan Infra Diversifies into Media Tech with AI-Led Feature Film "SHATAK"
Kridhan Infra Limited has announced a strategic entry into the film production and media technology sector through its subsidiary, Kridhan Mediatech Private Limited. The company has released "SHATAK", a full-length feature film created using Artificial Intelligence, marking a significant pivot from its core infrastructure business. This move targets the Indian Media & Entertainment industry, currently valued at over ₹2.5 lakh crore, and the growing AI economy projected to reach ₹1.4 lakh crore. The company plans to further develop capabilities in CGI, virtual production, and AI-driven content creation.
Key Highlights
Strategic entry into film production and media technology via subsidiary Kridhan Mediatech.
Launch of 'SHATAK', one of the world's first AI-led full-length feature films.
Targeting the ₹2.5 lakh crore Indian Media & Entertainment industry.
Future focus on AI, CGI, and virtual production systems for theatrical and digital platforms.
Alignment with India's projected ₹1.4 lakh crore AI economy.
👀 What to Watch
Investors should closely monitor this significant business diversification to see if the company can successfully monetize media technology and if it impacts the capital allocation for its core infrastructure operations.
Kridhan Infra Reports Q3 FY26 Consolidated Net Loss of ₹27 Lakhs as Revenue Slumps 82%
Kridhan Infra Limited reported a consolidated net loss of ₹27.00 Lakhs for the quarter ended December 31, 2025, a sharp reversal from a profit of ₹25.82 Lakhs in the previous quarter. Revenue from operations plummeted to ₹21.50 Lakhs from ₹125.00 Lakhs in Q2 FY26. The company's net worth remains eroded due to accumulated losses, though management continues to prepare results on a 'going concern' basis. Financials are further complicated by the liquidation of its Singapore subsidiary and the impairment of its associate company, Vijay Nirman Company.
Key Highlights
Consolidated revenue from operations fell 82.8% quarter-on-quarter to ₹21.50 Lakhs.
Shifted to a consolidated net loss of ₹27.00 Lakhs in Q3 FY26 from a profit of ₹25.82 Lakhs in Q2 FY26.
Exceptional gain of ₹24.06 Lakhs was recorded during the quarter due to the reversal of earlier provisions for loans and advances.
The Singapore subsidiary, Readymade Steel Singapore Pte. Ltd., is under liquidation and excluded from consolidated results.
Company net worth is fully eroded, with the auditor highlighting accumulated losses as a significant concern.
👀 What to Watch
Investors should exercise extreme caution due to the company's eroded net worth, minimal revenue, and ongoing liquidation of key subsidiaries. The stock remains highly speculative given the fundamental financial distress and lack of operational scale.
Kridhan Infra Incorporates Media Subsidiary Kridhan Mediatech with 70% Stake
Kridhan Infra Limited has incorporated a new subsidiary, Kridhan Mediatech Private Limited, marking a strategic diversification into the media and entertainment sector. The company holds a 70% stake in the new entity, which has an initial authorized share capital of INR 10,00,000. The subsidiary will focus on producing and distributing digital content, films, and web series across OTT and theatrical platforms. The remaining 30% stake is held by the Kridhan Family Trust, involving the company's promoter.
Key Highlights
Incorporated Kridhan Mediatech Private Limited on January 12, 2026, as a 70% subsidiary
Initial authorized and paid-up share capital of INR 10,00,000 divided into 1 lakh shares
Diversification into motion picture production, media technology, and OTT content distribution
Promoter-linked Kridhan Family Trust holds the minority 30% stake in the new venture
Entry into a non-core business segment outside the company's traditional infrastructure focus
👀 What to Watch
Investors should monitor the company's capital allocation towards this new non-core business and evaluate management's expertise in the media sector. Watch for upcoming project announcements or further investments that might impact the core infrastructure business's cash flows.
Kridhan Infra Allots 5.75 Crore Warrants to Promoters Worth ₹11.5 Crore
Kridhan Infra Limited has completed the allotment of 5.75 crore warrants on a preferential basis to its promoter and promoter group. Mr. Anil Dhanpat Agrawal (Promoter) was allotted 3 crore warrants, while Kridhan Petrochemicals Private Limited received 2.75 crore warrants. The total transaction value for these allotments amounts to ₹11.5 crore. This capital infusion and increase in promoter stake (Equity + Warrants) to a combined 45.96% indicates strong insider confidence in the company's future prospects.
Key Highlights
Total allotment of 5.75 crore warrants to the Promoter and Promoter Group on a preferential basis
Promoter Anil Dhanpat Agrawal's combined holding (Equity and Warrants) stands at 28.49% post-allotment
Promoter Group entity Kridhan Petrochemicals' combined holding reaches 17.47% post-allotment
Total transaction value for the warrant allotment is approximately ₹11.5 crore
Allotment was officially approved and effected on December 9, 2025
👀 What to Watch
Investors should view the promoter's increased stake and capital infusion as a positive signal of commitment. However, keep an eye on the eventual dilution of earnings per share (EPS) when these warrants are converted into equity shares.
Kridhan Infra Allots 10.27 Crore Convertible Warrants at Rs 4.05 Per Unit
Kridhan Infra Limited has allotted 10,27,00,000 warrants convertible into equity shares to a group of 11 investors on a preferential basis. The warrants are priced at Rs 4.05 each, with 25% of the issue price paid upfront at the time of allotment. Key participants include Anil Dhanpat Agrawal, Kridhan Petrochemicals Private Limited, and ADA 360 Degree LLP. This move represents a significant potential capital infusion of approximately Rs 41.59 crore upon full conversion.
Key Highlights
Allotment of 10,27,00,000 warrants convertible into equity shares to 11 specific investors.
Issue price set at Rs 4.05 per warrant, with 25% (Rs 1.0125 per warrant) received as upfront payment.
Total potential fundraise amounts to approximately Rs 41.59 crore upon 100% conversion.
Major investors include promoter-related entities like Kridhan Petrochemicals Private Limited and Anil Dhanpat Agrawal.
The conversion of these warrants will lead to significant equity dilution for existing shareholders.
👀 What to Watch
Investors should track the company's utilization of the newly raised capital and monitor the timeline for the remaining 75% payment for warrant conversion.
