What’s new

• Standalone revenue rose to ₹11,222.72 lakhs from ₹7,760.87 lakhs in the prior year.
• Net profit dropped to ₹606.34 lakhs from ₹697.93 lakhs.
• Auditors issued a qualified opinion regarding the classification of the company's suspended sugar mill.

Why it matters

The recurring audit qualification suggests a fundamental disagreement between management and auditors over the company's accounting treatment. By refusing to classify the idle sugar mill as a discontinued operation, management keeps the asset on the books as a continuing business, which auditors have flagged as non-compliant with Ind AS since Q1 2024-25.

What we’re watching

• Whether management moves to reclassify the sugar mill in upcoming quarters.
• Any further commentary from auditors regarding the persistent qualification.
• The impact of the ongoing production suspension on future cash flows.

The full read

Khaitan (India) grew its standalone revenue to ₹11,222.72 lakhs for the year ended March 2026, compared to ₹7,760.87 lakhs in the previous fiscal year. Despite the top-line expansion, net profit fell to ₹606.34 lakhs from ₹697.93 lakhs. The results are overshadowed by a recurring audit qualification. Statutory auditors maintain that the company’s sugar mill, which has been idle for a prolonged period, should be reported as a discontinued operation under Ind AS. Management disagrees, continuing to classify the unit as a continuing business. This disagreement has persisted since Q1 2024-25. The qualification creates a persistent gap between the company's reported financial structure and the auditors' assessment of its operational reality.

Primary source: BSE · NSE