Unaudited Financial Results for the quarter ended 31st December 2025 Resignation of Prashant Sharma
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Rajasthan Tube Manufacturing Company reported Q3 FY26 revenue of Rs 351.24 lakhs, up sharply from Rs 4.43 lakhs in Q2 FY26 but well below Rs 1,760.79 lakhs in Q3 FY25. The company posted a quarterly profit of Rs 289.41 lakhs versus a loss of Rs 28.12 lakhs a year ago; nine-month FY26 profit stood at Rs 180.12 lakhs compared to a loss of Rs 61.37 lakhs in the prior period. The company clarified that all revenue this quarter came from sale of old stock and that no production activities were carried out, which is reflected in inventories falling from Rs 874.97 lakhs (March 2025) to zero. Auditor Bakliwal & Co. gave an unmodified limited review report but flagged that Q3 sales were recorded in GST returns in January (Q4), creating a revenue recognition timing difference. Separately, Independent Director Prashant Sharma resigned on 17 December 2025 citing personal reasons, effective immediately.
The headline profit looks strong but is a one-time gain from liquidating old inventory, not from ongoing manufacturing operations — shareholders should treat this as non-recurring. The absence of production and the auditor's revenue timing flag warrant caution about the continuity of core business and internal controls.