Board approves September-quarter results; auditor flags LIC property dispute and amalgamation
Board approved unaudited standalone results for the quarter and half year ended September 30, 2026 and the limited review report.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 10.50 | 19.00 | −44.7% | 10.50 | 0% |
| Total income | 9.72 | 27.09 | −64.1% | 28.05 | −65.3% |
| Profit before tax | (85.25) | (213.82) | +60.1% | (28.40) | −200% |
| Profit after tax | (85.25) | (216.83) | +60.7% | (28.40) | −200% |
| Total comprehensive income | (85.25) | (216.83) | +60.7% | (28.40) | −200% |
| Basic EPS | (0.771) | (1.960) | +60.7% | (0.257) | −200% |
- Total income - Year ago
- 27.09 (−64.1%)
- Period
- 30-Sep-2026
Auditor's review
Conclusion: Unmodified
- Emphasis of matter: pending litigation with LIC of India over Ridge Road Property shown as inventory; no provision for diminution made; carrying amount Rs.112.99 Lakhs.
- Emphasis of matter: Scheme of Arrangement and Amalgamation of Kirti Investments Limited with the Company approved by NCLT order dated April 6, 2026 (appointed date April 1, 2024); comparatives restated.
Notes to the results
- The Company is engaged in Construction business and there is no separate reportable segment as per Ind AS 108.
- Court case pending with group company against LIC of India for Ridge Road Property shown at Rs. 112.99 lakhs under Inventory; no provision for diminution as matter is subjudice.
- Figures of previous period regrouped/recast wherever necessary; 30-Sep-2025 figures presented as Restated and Reported.
The board of Kedia Construction Company Ltd approved the unaudited standalone financial results for the quarter and half year ended September 30, 2026, together with the limited review report of the statutory auditors, Jhunjhunwala Jain & Associates LLP.
The auditor's conclusion
The review follows the Standard on Review Engagements 2410, which gives moderate assurance and is less than a full audit; the auditor has not performed an audit and does not express an audit opinion. On that basis, nothing came to the auditor's attention that causes them to believe the statement contains a material misstatement or misses the disclosures required under Regulation 33. The reported numbers are therefore not qualified — the two points below are matters the auditor wants the reader to notice.
Emphasis of matter, in the auditor's own terms
- Ridge Road Property: there is a pending litigation of the company, along with a group company, against LIC of India over this property, which is shown as inventory. Although the property is in dispute, no provision for diminution in value has been made; the carrying amount is Rs.112.99 Lakhs.
- Amalgamation: pursuant to a Scheme of Arrangement and Amalgamation between Kirti Investments Limited (transferor company) and Kedia Construction Company Limited (transferee company), the scheme provided for reduction of the share capital of the transferee company and amalgamation of the transferor company with the transferee company. The Hon'ble National Company Law Tribunal, Mumbai Bench approved it by order dated April 6, 2026, with appointed date April 1, 2024.
Key figures (standalone, unaudited, amounts in brackets are negative as printed)
- Net Sales / Income from Operations, quarter ended September 30, 2026: 10.50 (Rs. in Lakhs)
- Total Income, quarter: 9.72 (Rs. in Lakhs)
- Net Profit (+) / Loss (-) from Ordinary Activities after tax, quarter: (85.25) (Rs. in Lakhs)
- Net Profit (+) / Loss (-) from Ordinary Activities after tax, half year: (113.65) (Rs. in Lakhs)
- Earnings Per Share (basic and diluted, not annualised), quarter: (0.771)
- Total assets as at September 30, 2026: 1,483.48 (Rs. in Lakhs)
- Net cash flow from operating activities, period ended September 30, 2026: (46.69) (Rs. in Lakhs)
How to read this
- The headline of the numbers is a loss: both the quarter and the half year ended with a loss from ordinary activities after tax, as printed in brackets.
- The disputed Ridge Road Property is a watch item. It sits in inventory at Rs.112.99 Lakhs and has not been written down; if the litigation is decided against the company, the value carried for that asset could change.
- The amalgamation is a structural change. The scheme involved a reduction of the company's share capital, and the appointed date is April 1, 2024, so the merged business is reflected from that date.
- The company states it is engaged in the construction business and has no separate reportable segment as per Ind AS 108.
- The cash flow statement shows cash used in operating activities for the period, and total assets of Rs.1,483.48 Lakhs indicate the size of the book being reported on.
Also from Kedia Construction Company
Revised board outcome: Q2 and H1 FY27 results approved, net loss of Rs. 85.25 lakh for the quarter
4 Nov 2026
Corrigendum: board meeting conclusion time corrected to 4:10 PM from 3:30 PM
4 Nov 2026
Board meeting on November 03, 2026 to approve September quarter and half year results
28 Oct 2026
More numbers
- Net Profit (+) / Loss (-) from Ordinary Activities after tax, half year (Rs. in Lakhs)(113.65)
- Carrying amount of Ridge Road Property shown as inventory (Emphasis of Matter)Rs.112.99 Lakhs
- Total assets as at 30-Sep-2026 (Rs. in Lakhs)1,483.48
- Net cash flow from operating activities, period ended 30-Sep-2026 (Rs. in Lakhs)(46.69)
- Total income, latest quarter9.72 (Rs. in Lakhs)
- Total income, year-ago quarter27.09 (Rs. in Lakhs)
- Total income, previous quarter28.05 (Rs. in Lakhs)
- Total comprehensive income, latest quarter(85.25) (Rs. in Lakhs)
- Total comprehensive income, year-ago quarter(216.83) (Rs. in Lakhs)
- Total comprehensive income, previous quarter(28.40) (Rs. in Lakhs)
- Profit after tax, latest quarter(85.25) (Rs. in Lakhs)
- Profit after tax, year-ago quarter(216.83) (Rs. in Lakhs)
- Profit after tax, previous quarter(28.40) (Rs. in Lakhs)
- Revenue from operations, latest quarter10.50 (Rs. in Lakhs)
- Revenue from operations, year-ago quarter19.00 (Rs. in Lakhs)
- Revenue from operations, previous quarter10.50 (Rs. in Lakhs)
- Profit before tax, latest quarter(85.25) (Rs. in Lakhs)
- Profit before tax, year-ago quarter(213.82) (Rs. in Lakhs)
- Profit before tax, previous quarter(28.40) (Rs. in Lakhs)
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