Integrated Filing (Financial) for the quarter ended 31st March,2026
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Rajasthan Tube Manufacturing Company submitted audited financial results for Q4 FY26 and the full year ended 31 March 2026. Full-year revenue from operations fell sharply to ₹1,700.64 lacs from ₹5,634.08 lacs in FY25, a decline of roughly 70%. In Q4 FY26, revenue from operations was nil, with the company explicitly stating no production activities took place and the only revenue came from selling off old stock. Despite a Q4 loss of ₹56.43 lacs (vs profit of ₹110.10 lacs in Q4 FY25), full-year profit after tax actually rose to ₹123.69 lacs from ₹48.73 lacs, boosted by liquidation of the entire inventory (from ₹874.97 lacs to nil) and repayment of all borrowings. The auditor issued a clean (unmodified) opinion but highlighted that GSTR-3B returns were not filed and related GST liability was not discharged during the audit period.
The complete halt of production in Q4 and the steep revenue decline are serious concerns for the core ERW steel tubes business, even though annual profitability and balance sheet strengthened via inventory liquidation and debt repayment. Shareholders should monitor whether manufacturing resumes and whether the GST compliance issues are resolved.