Khaitan (India) Limited (KHAITANLTD)
₹150.00 -0.55% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Khaitan (India)'s revenue was ₹41.5 Cr, and net profit ₹2.4 Cr; the operating margin was 6.4%.
| Q1 FY27 (₹ Cr) | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹41.5 | — | +14.6% |
| Operating profit | ₹2.7 | — | -9.5% |
| Net profit | ₹2.4 | — | -16.5% |
| EPS (₹) | 5.13 | — | -16.6% |
| Operating margin | 6.4% | — | — |
KHAITANLTD delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 57.33% of the KHAITANLTD shares traded on NSE were taken to delivery, against the stock's own 20-session average of 69.25%. That is lower than usual for this stock. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 80.0% · 62.2% · 71.0% · 72.1% · 57.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Khaitan (India) Limited announced that Mr. Chandranath Banerjee has resigned from his position as Company Secretary and Compliance Officer effective September 6, 2026, citing personal reasons. To maintain continuity in secretarial and regulatory obligations, the company has authorized CFO Mr. Sumit Pasari to oversee the compliance functions temporarily until a successor is appointed. The resignation was tendered on August 6, 2026, fulfilling a 1-month notice period.
- Resignation of CS & Compliance Officer Mr. Chandranath Banerjee effective September 6, 2026
- Resignation letter submitted on August 6, 2026 with a 1-month notice period
- CFO Mr. Sumit Pasari assigned interim charge of compliance functions
Khaitan (India) Limited has dispatched communications to shareholders regarding the availability of its Annual Report for FY 2025-26 and the Notice of the 89th Annual General Meeting. The company requested shareholders to register their email addresses and dematerialize physical shares in compliance with SEBI guidelines. Additionally, the filing highlights SEBI's special window for dematerialisation of physical securities open from February 5, 2026, to February 4, 2027.
- Circulation of FY 2025-26 Annual Report and 89th AGM Notice weblinks to shareholders
- Special SEBI window for dematerialisation of pre-April 2019 physical shares open from 5th February 2026 to 4th February 2027
- Shareholders urged to register email IDs with Depository Participants/RTA for digital corporate communications
Khaitan (India) Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by Maheshwari Datamatics Pvt Ltd (the Registrar and Share Transfer Agent), confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, have been processed. This involves the cancellation of physical certificates and updating the depositories' names in the company's records. This is a standard administrative filing required for all listed entities in India.
- Compliance certificate covers the quarter ended June 30, 2026
- Certificate issued by Registrar Maheshwari Datamatics Pvt Ltd on July 2, 2026
- Filing submitted to stock exchanges on July 14, 2026
- Confirms security certificates were mutilated and cancelled after dematerialization
Khaitan (India) Limited reported a strong 44.6% year-on-year growth in revenue from operations, reaching ₹11,222.72 lakhs for FY26. Despite the top-line growth, net profit for the full year declined by 13.1% to ₹606.34 lakhs, down from ₹697.93 lakhs in FY25, primarily due to higher purchase costs of trading goods. A significant concern for investors is the auditor's qualified opinion regarding the company's failure to classify its long-suspended sugar mill as a 'Discontinued Operation'. Furthermore, several balance sheet items including trade receivables and payables remain subject to confirmation.
- Annual revenue from operations increased 44.6% YoY to ₹11,222.72 lakhs from ₹7,760.87 lakhs.
- Net profit for FY26 decreased to ₹606.34 lakhs compared to ₹697.93 lakhs in the previous fiscal year.
- Auditors issued a qualified opinion noting that suspended sugar mill operations were incorrectly treated as continuing operations.
- Earnings Per Share (EPS) for the full year dropped to ₹12.77 from ₹14.69 in FY25.
- Balances for trade receivables, payables, and loans are subject to confirmation as per the auditor's emphasis of matter.
Khaitan (India) Limited has officially informed the stock exchanges that it does not qualify as a 'Large Corporate' as of March 31, 2026. This disclosure is a mandatory annual compliance requirement under SEBI regulations for debt security issuance. The company confirmed its outstanding long-term borrowings are well below the Rs. 1,000 crore threshold. Furthermore, the company does not hold a credit rating of AA or higher, which is a secondary criterion for the classification.
- Company identified as 'NOT a Large Corporate' as per SEBI criteria as of March 31, 2026.
- Total outstanding long-term borrowings are below the regulatory threshold of Rs. 1,000 crore.
- The company does not have a credit rating of AA, AA+, or AAA on its unsupported bank borrowings.
- Compliance filing made pursuant to SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172.
Khaitan (India) Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by Maheshwari Datamatics Pvt Ltd, confirms the processing of dematerialization requests for the period from January 1, 2026, to March 31, 2026. It verifies that the Registrar and Share Transfer Agent (RTA) has destroyed or mutilated physical share certificates after dematerialization as per regulatory requirements. This is a standard administrative filing mandatory for all listed entities in India.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Registrar and Share Transfer Agent (RTA) is Maheshwari Datamatics Pvt Ltd.
- Covers dematerialization requests processed between January 1, 2026, and March 31, 2026.
- Confirms that physical certificates were cancelled and destroyed within stipulated timelines.
Khaitan (India) Limited reported a strong Q3 FY26 with revenue from operations growing 50% YoY to ₹2,682.89 Lakhs, primarily driven by the electrical goods segment. Net profit for the quarter increased to ₹123.59 Lakhs compared to ₹76.69 Lakhs in the same period last year. However, the statutory auditors have issued a qualified opinion regarding the company's failure to classify its long-suspended sugar mill as a 'discontinued operation.' While quarterly performance is positive, the cumulative nine-month profit of ₹313.97 Lakhs is still trailing the previous year's ₹353.89 Lakhs.
- Revenue from operations grew 50% YoY to ₹2,682.89 Lakhs in Q3 FY26.
- Net profit for the quarter rose 61% YoY to ₹123.59 Lakhs from ₹76.69 Lakhs.
- Electrical goods segment contributed ₹2,672.66 Lakhs, representing nearly 99% of total revenue.
- Statutory auditors issued a qualified opinion regarding the reporting of the suspended sugar mill assets and liabilities.
- Nine-month EPS stands at ₹6.61, down from ₹7.45 in the previous year's nine-month period.
Khaitan (India) Limited reported a strong 50% year-on-year growth in Q3 revenue, reaching ₹26.83 crore, primarily driven by its electrical goods segment. Net profit for the quarter increased significantly to ₹1.24 crore from ₹0.77 crore in the previous year. However, the nine-month profit for FY26 showed a decline to ₹3.14 crore compared to ₹3.54 crore in the prior year. A major point of concern is the auditor's qualified opinion regarding the company's failure to classify its long-suspended sugar mill as a 'discontinued operation'.
- Q3 Revenue from operations increased 50% YoY to ₹2,682.89 Lakhs.
- Net Profit for Q3 FY26 rose 61% YoY to ₹123.59 Lakhs.
- Electrical Goods segment contributed nearly 99% of total revenue at ₹2,672.66 Lakhs.
- Statutory auditors issued a qualified conclusion as the suspended sugar mill is not treated as a discontinued operation.
- Nine-month EPS decreased to ₹6.61 from ₹7.45 in the previous year period.
Khaitan (India) Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Maheshwari Datamatics Pvt. Ltd., confirms that share certificates received for dematerialization during the quarter ended December 31, 2023, were processed correctly. The registrar verified that the certificates were mutilated and cancelled after the name of the depositories was substituted in the register of members. This is a standard procedural filing required by all listed companies in India.
- Compliance certificate submitted for the quarter ended December 31, 2023.
- Issued by Registrar and Share Transfer Agent (RTA) Maheshwari Datamatics Pvt. Ltd.
- Confirms dematerialization of securities within the stipulated timeframes.
- Verification that security certificates were destroyed/cancelled after processing.
- Confirms the company's adherence to SEBI's depository and participant regulations.
Khaitan (India) Limited has informed the exchanges that its trading window will be closed starting January 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the third quarter ending December 31, 2025. The window will remain closed until 48 hours after the financial results are made public. The date for the board meeting to approve these results is yet to be announced.
- Trading window closure commences on January 1, 2026
- Closure is for the purpose of declaring Q3 financial results for the period ending December 31, 2025
- Window will reopen 48 hours after the official announcement of the financial results
- Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
Financial Performance
Revenue Growth by Segment
Electrical Goods revenue grew 41.1% YoY to INR 48.04 Cr in H1 FY26 from INR 34.05 Cr. Agriculture revenue grew 87.5% YoY to INR 0.20 Cr from INR 0.11 Cr. Sugar segment remains non-operational with 0% revenue contribution.
Profitability Margins
Operating Profit Margin improved to 11.34% in FY25 from 5.23% in FY24 (+117% change). Net Profit Margin rose to 9.71% in FY25 from 2.62% in FY24 (+270% change). Return on Net Worth (RONW) increased to 26.03% from 6.62% (+293% change).
EBITDA Margin
Operating Profit Margin stood at 11.34% in FY25, a 117% increase from 5.23% in FY24, driven by cost optimization and a better sales mix in the electrical goods trading division.
Credit Rating & Borrowing
Finance costs for H1 FY26 decreased 35.2% YoY to INR 0.84 Cr from INR 1.30 Cr, indicating reduced borrowing costs or debt levels.
Operational Drivers
Raw Materials
Metals and polymers are identified as key inputs for the electrical goods division, though specific percentage of total cost for each is not disclosed.
Capacity Expansion
Current installed capacity is not disclosed. Planned expansion includes the incorporation of two new subsidiaries: Khaitan Strategy Limited and Khaitan Fans and Appliances Limited in November 2025.
Raw Material Costs
Raw material costs are sensitive to metal and polymer price fluctuations. Procurement strategies focus on tighter cost control and better inventory management to protect margins.
Manufacturing Efficiency
Focus is on supply chain efficiency and product innovation to mitigate pricing power risks from low-cost imports.
Strategic Growth
Expected Growth Rate
35%
Growth Strategy
Growth will be achieved by expanding the electrical goods product portfolio, widening the distribution network into new geographical areas, and leveraging digital platforms. The company is also conducting feasibility studies to restart sugar and agriculture operations with a focus on ethanol-based opportunities.
Products & Services
Electrical goods (fans and appliances), sugar, and agricultural products.
Brand Portfolio
Khaitan
New Products/Services
New product launches are planned in energy-efficient and smart product categories to prevent stock obsolescence and capture higher-margin segments.
Market Expansion
Expansion into new geographical areas and widening the distribution network for electrical goods is a core strategy for FY26.
External Factors
Industry Trends
The industry is shifting toward energy-efficient and smart products. Regulatory support for ethanol is creating a revival path for the sugar sector. The electrical goods sector remains highly competitive with a mix of organized and unorganized players.
Competitive Landscape
Intense competition from established players, unorganized local manufacturers, and low-cost imports.
Competitive Moat
The company leverages its established 'Khaitan' brand name and a diversified portfolio across three sectors. Sustainability depends on successful product innovation in the electrical segment and the revival of the sugar/agri divisions.
Macro Economic Sensitivity
GDP growth is expected to be 6.3%-6.8% in FY26. The company is sensitive to US export tariffs and global commodity price volatility.
Consumer Behavior
Shift toward energy-efficient and smart home appliances is driving product development cycles.
Geopolitical Risks
Higher tariffs imposed by the United States pose challenges for exports and could impact the growth trajectory of the electrical goods division.
Regulatory & Governance
Industry Regulations
Stricter product standards and energy-efficiency norms for electrical goods necessitate operational adjustments and risk inventory write-downs.
Environmental Compliance
Revival of the sugar segment is aligned with government policy support for ethanol, which is an environmentally focused initiative.
Legal Contingencies
The company faces outstanding statutory dues and ongoing GST-related disputes. A modified audit opinion exists regarding the sugar mill, which the auditor believes should be classified as 'Discontinued Operations' rather than 'Continuing Operations'.
Risk Analysis
Key Uncertainties
Suspension of sugar and agriculture operations remains a major uncertainty, with revival dependent on government policy and capital investment. Potential impact of adverse GST dispute rulings is not quantified.
Geographic Concentration Risk
The registered office and primary operations are concentrated in Kolkata, West Bengal.
Third Party Dependencies
Dependency on suppliers for metals and polymers; specific vendor names are not disclosed.
Technology Obsolescence Risk
High risk in the electrical goods segment where rapid changes in smart technology could render existing stock obsolete.
Credit & Counterparty Risk
The company is focusing on improving receivable management to mitigate credit risks and enhance liquidity.
