Rajnandini Metal Q2 FY26: revenue down 74% YoY, auditor flags GST demand

Qualified audit opinionRevenue declinedNet loss reportedContingent liabilities increasedResults View source PDF Explain this filing

RAJMET · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+13.1%Reaction day

₹4.42

prior close

₹4.15

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%+13.2% vs market

Aluminium Copper & Zinc Products peers, median of 7sector+0.3%+12.9% vs sector

On the reaction day the stock moved 13.2 pts more than Nifty Microcap 250 and 12.9 pts more than its Aluminium Copper & Zinc Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+2.4

10m

+2.9

15m

+3.1

30m

+2.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+13.1-0.1+13.2+0.3+12.9

Next day

+2.3+0.5+1.8-1.7+3.9

+0.2-0.3+0.5-3.9+4.1

-1.8-0.5-1.3-4.9+3.1

-2.5-0.8-1.7-3.9+1.4

-4.1-2.3-1.8-4.2+0.1

-7.5-2.8-4.7-7.7+0.2

15d

-8.4-4.9-3.5-10.6+2.2

-8.6-4.7-3.9-9.2+0.6

-1.8-7.7+5.9-3.1+1.2

-9.3-7.8-1.4+11.6-20.9

UpDownMarket · Nifty Microcap 250Sector · Aluminium Copper & Zinc Products peers, median of 7Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Q2 FY26 revenue fell 74% YoY to Rs 71.16 cr from Rs 277.72 cr. H1 FY26 revenue dropped to Rs 145.04 cr from Rs 592.33 cr. Q2 PAT was a marginal Rs 3 lakh but H1 PAT was a loss of Rs 1.96 cr. Auditor Krishna and Associates issued a qualified opinion citing a GST demand of Rs 290.70 cr (including interest and penalty) and an income tax demand of Rs 15.98 cr arising from searches. Management is contesting both and has made no provision.

Likely market impact

Rs 290.70 cr GST demand (about 4x quarterly revenue) is a major overhang. Revenue fell 74% YoY and auditor gave a qualified opinion - both negatives.