Kundan Minerals and Metals Announces Director Appointment and Q1 Financial Results
Kundan Minerals and Metals Limited (formerly Eastern Sugar & Industries Limited) announced significant outcomes from its Board meeting held on August 13, 2026. The results included the approval of un-audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, alongside key governance updates regarding the company's leadership structure.The Board of Directors reviewed and approved various outcomes, including the appointment of Ms Priya Khandelwal as an Independent Director. This appointment is effective from August 13, 2026. Ms Khandelwal, who is a Company Secretary with over six years of professional experience in corporate governance and regulatory matters, was appointed for a term of five years, subject to shareholder approval.
Financial Performance Highlights
The company released its un-audited Standalone Financial Results and Consolidated Unaudited Quarterly Financial Results for the quarter ended June 30, 2026. These results were reviewed by the Audit Committee and approved by the Board of Directors.Standalone Financial Results (All figures in lakhs)
The following table provides a comparison of key financial metrics across various periods:| Particulars | Q ended 30-Jun-26 (Unaudited) | Q ended 31-Mar-26 (Audited) | Q ended 30-Jun-25 (Unaudited) | Y ended 31-Mar-26 (Audited) |
|---|---|---|---|---|
| Revenue from operations | 80.70 | 699.70 | - | 1,160.02 |
| Other income | 13181.00 | 139.86 | 147.82 | 568.44 |
| Total Income | 212.51 | 839.56 | 147.82 | 1,728.46 |
| Purchase of traded goods | 60.40 | 699.20 | - | 1,159.08 |
| Employee benefits expense | 689.00 | 683.00 | 591.00 | 27.13 |
| Finance costs | 290.00 | 15.00 | 98.00 | 1.00 |
| Other expenses | 705.98 | 117.86 | 14.90 | 173.88 |
| Total Expenses | 776.17 | 824.04 | 21.79 | 1,362.01 |
| Profit/(loss) before tax expense | (563.66) | 15.52 | 12604.00 | 36645.00 |
| Prior period expenses | - | 25.00 | - | - |
| Profit/(loss) before tax | (563.66) | 15.27 | 12604.00 | - |
| Current tax expense | - | 2859.00 | 2828.00 | 106.60 |
| Deferred tax | (145.32) | 0.10 | - | (0.14) |
| Total tax expense | (145.32) | 28.69 | 25.28 | 106.46 |
| Profit/(loss) for the period/year after tax | (@18.34) | (13.42) | 97.75 | 259.24 |
Consolidated Financial Results (All figures in lakhs)
The company's consolidated financial statements, which include subsidiaries and associates, were also reviewed by the Audit Committee. Key metrics from the consolidated results for the quarter ended June 30, 2026, are as follows:| Particulars | Q ended 30-Jun-26 (Unaudited) | Q ended 31-Mar-26 (Audited) | Q ended 30-Jun-25 (Unaudited) | Y ended 31-Mar-26 (Audited) |
|---|---|---|---|---|
| Total Income | 95.238.16 | 142.385.77 | 15.343.27 | 476.296.66 |
Notes and Background Information
The notes accompanying the financial statements provided several operational updates regarding the company and its subsidiaries:- The company has only one business segment: "Precious metals and related products."
- During a previous year, the company made investments in Inter-Corporate Deposits (ICDs) issued by Kundan Concentrates amounting to 24000 lakhs at a coupon rate of 7.75% per annum for a two-year tenure.
- The company also invested in ICDs issued by Kundan Gold Mines Private Limited, totaling 21650 lakhs, with the same terms as above.
- A subsidiary, Kundan Venture FZCO, acquired a controlling interest of 99% in West Africa Exploration & Mining on May 13, 2026.
The financial statements for the quarter ended March 31, 2026, were determined using balancing figures between the audited full-year results and unaudited figures up to December 31, 2025.
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