Integrated Filing (Financial) for the Quarter ended 30th September 2025
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Rajasthan Tube Manufacturing Company filed its Q2 FY26 standalone results with the BSE. Revenue from operations for the quarter collapsed to just Rs. 4.43 lacs from Rs. 2,448.40 lacs a year ago, because the company explicitly stated no production activities were carried out during the quarter. For the half year ended September 2025, revenue stood at Rs. 1,349.40 lacs versus Rs. 3,085.42 lacs in H1 FY25 — a roughly 56% decline — and the loss after tax widened to Rs. 109.29 lacs from Rs. 33.25 lacs. The balance sheet shrank sharply, with inventories dropping from Rs. 874.97 lacs to Rs. 52.16 lacs and short-term borrowings fully paid off (from Rs. 648.52 lacs to nil). Operating cash flow turned positive at Rs. 588.89 lacs in H1 FY26, driven largely by working capital releases rather than business earnings.
Very negative for shareholders — production has effectively halted in Q2, revenue is near zero, and losses have more than tripled versus the prior year. The sharp debt repayment and inventory drawdown suggest a wind-down rather than active operations, which is a serious red flag despite the small company size.