Rajnandini Metal Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
RAJMET · price
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The company reported total income of Rs. 26,474 lakhs in FY 2025-26, a significant decline from Rs. 1,04,191 lakhs in the previous year (approximately 75% drop). The company posted a net loss of Rs. 32 lakhs compared to a loss of Rs. 217 lakhs in the previous year, showing some improvement. The auditor issued a qualified opinion due to a GST demand of Rs. 290.70 crores (including interest and penalty) for allegedly claiming ineligible input credit, and an additional IT demand of Rs. 10.68 crores - totaling Rs. 301.38 crores in contingent liabilities. Management has filed appeals against these demands and believes no provision is required as they expect to win. An exceptional item of Rs. 4.49 lakhs was recognized due to new labour codes. The company generated positive operating cash flow of Rs. 2,165 lakhs.
The qualified opinion on Rs. 301+ crore in tax demands creates significant uncertainty for shareholders. While the company improved its bottom line from prior year, the massive contingent liability related to alleged GST fraud could materially impact financials if outcomes are adverse.