The Exchange had sought clarification from Rajshree Polypack Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results submitted is not as per format prescribed under Schedule III of the Companies Act, 2013 or as per Indian Accounting Standard The response of the Company is enclosed.
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Rajshree Polypack responded to NSE's clarification query on its Q2 FY26 (quarter ended Sep 30, 2025) financial results, addressing two points: (1) resubmitting a machine-readable/legible copy, and (2) explaining why standalone and consolidated results show identical figures. The company clarified that its only joint venture, Olive Ecopak Private Limited, is accounted for under the equity method per Ind AS 28, and accumulated losses have already reduced the investment value to nil, so no further share of losses is being recognized. This is the third consecutive quarter NSE has raised the same query. Q2 FY26 revenue from operations stood at Rs. 8,642.86 lakhs with net profit of Rs. 459.51 lakhs (EPS Rs. 0.62). H1 FY26 revenue was Rs. 16,894.51 lakhs and net profit Rs. 867.79 lakhs versus Rs. 16,697.85 lakhs and Rs. 525.19 lakhs in H1 FY25. A change in useful life of plant and machinery from 15 to 20-25 years reduced H1 depreciation by Rs. 147.06 lakhs. Additionally, 1.5 lakh warrants were converted to 9 lakh equity shares and another 1.5 lakh warrants were forfeited.
This is largely an administrative clarification with no material business impact; the financial results remain Ind AS compliant. However, investors should note that joint venture Olive Ecopak appears to be in serious financial distress with losses already exceeding the investment, and a portion of the year-on-year profit growth (roughly Rs. 147 lakhs) stems from a favourable change in depreciation estimate rather than core operational improvement. The repeated NSE clarifications suggest the company may want to improve its financial result presentation going forward.