Keerthi Industries Ltd (518011)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Keerthi Industries' revenue was ₹19.1 Cr (-37.5% year on year, -22.4% on the previous quarter), and net profit ₹-7.1 Cr (a bigger loss than a year earlier); the operating margin was -24.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹19.1 | -37.5% | -22.4% |
| Operating profit | ₹-4.7 | to loss | loss widened |
| Net profit | ₹-7.1 | loss widened | loss widened |
| EPS (₹) | -8.91 | loss widened | loss widened |
| Operating margin | -24.8% | — | — |
📢 Recent Corporate Announcements
Keerthi Industries submitted its monthly compliance report regarding the special window for re-lodgement of transfer requests for physical shares pursuant to SEBI guidelines. For the month ended September 30, 2026, the company's Registrar and Share Transfer Agent, XL Softech Systems Limited, confirmed that zero requests were received. Consequently, zero requests were processed, approved, or rejected during the period.
- No. of re-lodgement requests received during September 2026: NIL
- No. of requests processed during the month: NIL
- No. of requests approved or rejected: NIL
- Reported under SEBI circular dated January 30, 2026
Keerthi Industries Limited has issued the notice convening its 43rd Annual General Meeting (AGM) on Thursday, September 24, 2026, at 11:00 AM IST via Video Conferencing. Key agenda items include the adoption of FY26 audited financial statements, the re-appointment of Non-Executive Director Mr. Venkata Krishna Jasti (holding 1.09% equity), and the ratification of Rs. 55,000 remuneration for Cost Auditors for FY27. The cut-off date for remote e-voting eligibility is Friday, September 18, 2026, with the voting window open from September 19 to September 23, 2026.
- 43rd AGM scheduled for September 24, 2026, at 11:00 AM IST via VC/OAVM
- Cut-off date for remote e-voting set as Friday, September 18, 2026
- Remote e-voting window runs from September 19, 2026 (09:00 AM) to September 23, 2026 (05:00 PM)
- Proposed ratification of Rs. 55,000 remuneration plus expenses for Cost Auditors M/s. Vasireddy & Associates for FY 2026-27
- Re-appointment of retiring Non-Executive Director Mr. Venkata Krishna Jasti, who holds 87,347 shares (1.09%)
Keerthi Industries reported a sharp decline in performance for Q1 FY27, with revenue falling 37.5% YoY to ₹19.11 Cr. The company posted a net loss of ₹7.14 Cr, significantly wider than the ₹2.39 Cr loss in the previous year's quarter. Critically, the company has temporarily suspended operations since June 12, 2026, citing adverse market conditions. Auditors have issued a 'Material Uncertainty' warning regarding the company's ability to continue as a going concern, as current liabilities exceed current assets by ₹57.40 Cr.
- Revenue from operations decreased to ₹19.11 Cr from ₹30.58 Cr in the year-ago quarter.
- Net loss widened to ₹7.14 Cr for the quarter ended June 30, 2026.
- Current liabilities exceed current assets by ₹57.40 Cr, leading to a going concern warning from auditors.
- Operations have been temporarily suspended since June 12, 2026, due to unfavorable business environment.
- MD and Chairperson waived a combined ₹17 lakhs per month in salary to mitigate financial distress.
Keerthi Industries reported a sharp decline in Q1 FY27 performance, with revenue falling 37.5% YoY to ₹19.11 Cr and net losses widening to ₹7.14 Cr. The company has temporarily suspended its operations effective June 12, 2026, due to adverse market conditions. Auditors have issued a 'Material Uncertainty related to Going Concern' warning as current liabilities exceed current assets by ₹57.40 Cr. To mitigate financial distress, the Managing Director and Chairperson have waived ₹8 lakh and ₹9 lakh of their monthly salaries, respectively.
- Revenue from operations dropped to ₹19.11 Cr in Q1 FY27 from ₹30.58 Cr in Q1 FY26.
- Net loss for the quarter widened to ₹7.14 Cr compared to a loss of ₹2.39 Cr in the year-ago period.
- Operations have been suspended since June 12, 2026, with no specific date provided for recommencement.
- Current liabilities exceed current assets by ₹57.40 Cr, which is over 200% of the company's net worth (₹26 Cr).
- MD J.S. Rao and Chairperson Triveni Jasti waived ₹17 lakh per month in combined salary effective April 1, 2026.
Promoter and Managing Director Seshagiri Rao Jasti has released the pledge on 24,05,021 equity shares, representing 30% of the company's total share capital. These shares were previously encumbered with Axis Bank Limited as collateral for credit facilities. Following this release on August 10, 2026, the promoter's personal pledged holding has reduced from 30% to 0%. This move improves the financial profile of the promoter group, although the company remains loss-making with a TTM PAT of Rs -15 Cr.
- 24,05,021 shares released from pledge, equivalent to 30% of the total paid-up capital
- Promoter Seshagiri Rao Jasti's pledged shares reduced from 30% to 0% of total equity
- Shares were released by Axis Bank Limited on August 10, 2026
- Total promoter group holding remains stable at 67.18% as per latest filings
- The release involves a significant portion of the company's Rs 33 Cr market capitalization
Promoter and Managing Director Seshagiri Rao Jasti has released a pledge on 24,05,021 equity shares, representing 30% of the company's total paid-up capital. The shares were previously encumbered in favor of Axis Bank Limited as collateral for credit facilities. This release, effective August 10, 2026, removes a significant pledge overhang from the company's total equity. Despite this positive regulatory development, the company remains financially stressed with a TTM loss of Rs 15 Cr and a negative ROCE of 25%.
- Release of pledge on 24,05,021 equity shares on August 10, 2026
- Released shares represent 30% of the total paid-up capital of the company
- Promoter Seshagiri Rao Jasti's total holding stands at 38.44% (30,81,559 shares)
- The encumbrance was originally created as collateral for credit facilities from Axis Bank Limited
- Post-event, the specific promoter's pledged holding has been reduced to zero
Seshagiri Rao Jasti, the Promoter and Managing Director of Keerthi Industries, has released a pledge on 2,405,021 equity shares, representing 30% of the company's total paid-up capital. Before this release, only 8.44% of his 38.44% stake was free of encumbrance; now, his entire holding is unencumbered. This is a significant de-risking event for the micro-cap company (Rs 34 Cr market cap), especially as it currently reports a TTM loss of Rs 15 Cr.
- Release of pledge on 2,405,021 equity shares on August 10, 2026.
- The released shares represent 30% of the total paid-up capital of 8,016,738 shares.
- Promoter's unencumbered (free) holding increased from 8.44% to 38.44%.
- Total promoter group holding remains at 67.18%, but the pledged portion has significantly reduced.
Keerthi Industries has filed its monthly report regarding the special window for transfer and dematerialisation of physical shares as mandated by SEBI. For the month ended July 31, 2026, the company reported zero (NIL) requests received, processed, or approved. This is a standard procedural disclosure with no impact on the company's financial position or operations. The company currently operates in the cement sector with a micro-cap valuation of ‡31 Cr and remains loss-making with a TTM PAT of -‡15 Cr.
- 0 (NIL) requests received for re-lodgement of physical share transfers during July 2026
- 0 (NIL) requests were processed, approved, or rejected during the reporting period
- Compliance report filed as per SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/ I/3750/2026
- Report confirmed by Registrar and Transfer Agent (RTA) XL Softech Systems Limited
Keerthi Industries has scheduled its 216th board meeting on August 14, 2026, to consider and approve unaudited financial results for the quarter ended June 30, 2026. The company is currently in a challenging financial position with a TTM net loss of ₹15 Cr and negative operating margins of -11.3%. The stock has seen significant selling pressure, declining 45% over the last 12 months. Investors will be monitoring these results for any signs of operational turnaround or margin improvement.
- Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results
- Trading window has been closed since July 1, 2026, per SEBI regulations
- Company reported a net loss of ₹1.76 Cr in the preceding quarter ended March 2026
- TTM revenue stands at ₹94 Cr against a small market capitalization of ₹32 Cr
Keerthi Industries Limited has received a Demand Notice (Form 3) under the Insolvency and Bankruptcy Code (IBC), 2016, from its coal supplier, J P Associates. The notice, received on July 16, 2026, demands a total payment of ₹4.31 crore, which includes a principal amount of ₹3.34 crore and interest of ₹0.97 crore. The company is currently reviewing the notice with legal counsel and intends to settle the matter amicably within statutory timelines. Management claims there will be no material impact on operations or financial position, though the stock has already declined 44.9% over the past 12 months.
- Total claim amount of ₹4,31,09,759 (₹4.31 Cr) raised by J P Associates.
- Principal debt component stands at ₹3,33,91,437.
- Accrued interest claimed amounts to ₹97,18,322.
- Notice received on July 16, 2026, under Form 3 of the Insolvency and Bankruptcy Code.
- Debt pertains to the operational supply of coal, a critical raw material for cement production.
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