Rajnandini Metal Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
RAJMET · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rajnandini Metal Limited announced its unaudited financial results for the quarter ended June 30, 2025. Revenue from operations fell sharply to Rs 7,388 lakhs from Rs 31,461 lakhs in the same quarter last year, a drop of about 76%. The company reported a net loss of Rs 199 lakhs versus a loss of Rs 124 lakhs in Q1 FY25, and profit before tax was negative at Rs (246) lakhs. The statutory auditor, KAPG & Associates, issued a qualified opinion (appearing for the second time) because of a massive GST demand of Rs 290.70 crores (including interest and penalty) and an Income Tax demand of Rs 16.98 crores raised following searches of the company's premises. Management has rejected the demands, filed a rectification (now refused), and plans to appeal; no provision has been made in the books. The auditor stated it is unable to comment on the outcome or its potential impact on the financial results.
The Rs 307+ crore combined tax demand is several times the company's net worth of about Rs 54.6 crores, creating a serious overhang even though no provision has been made. Investors should treat this as a high-risk stock; a negative outcome in the appeal could materially threaten the company's solvency, while the sharp revenue decline and continued losses also signal weakening business performance.