Kandagiri Spinning Mills Ltd (521242)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Kandagiri Spinning's revenue was ₹0.2 Cr (-74.6% year on year, -67.9% on the previous quarter), and net profit ₹-0.7 Cr (a smaller loss than a year earlier); the operating margin was -69.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.2 | -74.6% | -67.9% |
| Operating profit | ₹-0.1 | loss narrowed | loss narrowed |
| Net profit | ₹-0.7 | loss narrowed | loss narrowed |
| EPS (₹) | -1.71 | loss narrowed | loss narrowed |
| Operating margin | -69.1% | — | — |
📢 Recent Corporate Announcements
Kandagiri Spinning Mills reported a net loss of Rs 65.86 lakhs for the quarter ended June 30, 2026, on a very thin revenue base of just Rs 15.72 lakhs. The statutory auditors have issued a qualified opinion, citing material uncertainty regarding the company's ability to continue as a 'going concern' due to persistent losses and eroded net worth. Finance costs of Rs 46.51 lakhs for the quarter are nearly triple the total revenue from operations, indicating severe debt-servicing stress. Management is currently relying on promoter fund infusions and a small-scale yarn trading business to sustain operations.
- Revenue from operations plummeted 74.7% YoY to Rs 15.72 lakhs from Rs 62.15 lakhs in the year-ago quarter.
- Net loss for the quarter stood at Rs 65.86 lakhs, compared to a loss of Rs 118.82 lakhs in Q1 FY26.
- Finance costs reached Rs 46.51 lakhs, representing 295.8% of the quarterly revenue from operations.
- Auditors issued a qualified opinion due to eroded net worth and material uncertainty over going concern status.
- Negative Other Equity reported at Rs 1,436.41 lakhs as of June 30, 2026.
Kandagiri Spinning Mills reported a sharp 74.7% YoY decline in revenue to Rs 15.72 Lakhs for Q1 FY27. The company posted a net loss of Rs 65.86 Lakhs, which, while narrower than the Rs 118.82 Lakhs loss in the previous year's quarter, continues to strain the balance sheet. The statutory auditor has issued a qualified opinion, citing material uncertainty regarding the company's ability to continue as a 'going concern' due to total erosion of net worth. Management is currently relying on promoter fund infusions to sustain its yarn trading operations.
- Revenue from operations dropped to Rs 15.72 Lakhs from Rs 62.15 Lakhs in Q1 FY26.
- Net loss for the quarter stood at Rs 65.86 Lakhs, contributing to a deeply negative Other Equity of Rs -14.36 Cr.
- Finance costs of Rs 46.51 Lakhs for the quarter are nearly 3x the total revenue from operations.
- Auditor issued a qualified opinion due to material uncertainty over 'going concern' status.
- Promoters have provided assurance of additional fund infusions as necessary to support operations.
Kandagiri Spinning Mills has appointed CS Kannan Anjana Maragatham as an Additional Independent Director effective August 8, 2026. This follows the completion of the tenure of CS Nattery Srinivasan Poornima on August 7, 2026. The new appointee is a qualified Company Secretary currently serving at Shanmuga Hospital Limited. This is a routine board transition for a micro-cap company currently facing significant financial distress, including a negative net worth of Rs 9 Cr.
- Appointment of CS Kannan Anjana Maragatham as Additional Independent Director effective August 8, 2026
- Completion of tenure for CS Nattery Srinivasan Poornima effective end of business hours on August 7, 2026
- Company reports a negative net worth of Rs -9 Cr against a debt of Rs 20 Cr
- TTM revenue is low at Rs 2 Cr with an operating profit margin of -42.9%
Kandagiri Spinning Mills has scheduled a board meeting for August 12, 2026, to approve its standalone financial results for the quarter ended June 30, 2026. The company is currently in a state of financial distress, reporting a negative net worth of Rs -9 Cr and a high debt of Rs 20 Cr relative to its TTM revenue of just Rs 2 Cr. The trading window for designated persons is closed from July 1, 2026, to August 14, 2026. These results will provide the first performance update for the 2026-27 fiscal year.
- Board meeting scheduled for 12/08/2026 to consider Q1 FY27 results
- Trading window closure period from 01/07/2026 to 14/08/2026
- Company currently has a negative net worth of Rs -9 Cr
- TTM revenue stands at Rs 2 Cr against a total debt of Rs 20 Cr
- Operating profit margin (OPM) is significantly negative at -42.9%
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