Audited Financial Results (Standalone and Consolidated) for the year ended March 31, 2026
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Rap Corp Ltd reported a dramatic turnaround in FY2026 with standalone profit after tax of Rs. 4,384.55 lakhs versus a loss of Rs. 106.32 lakhs in FY2025. Total income from operations stood at Rs. 6,834.23 lakhs, up significantly from Rs. 2,834.77 lakhs in the previous year. Consolidated PAT was Rs. 4,381.92 lakhs compared to a loss of Rs. 197.79 lakhs. The company earned an EPS of Rs. 74.55 on standalone basis. The statutory auditors issued an unmodified (clean) opinion on the financial results. The auditors noted that financials of White River Properties LLP (an associate) could not be included in consolidation due to an ongoing dispute between partners. The company also approved granting loans, corporate guarantees, or investments to subsidiary/associate companies up to Rs. 60 crores, subject to shareholder approval.
The company swung from losses to strong profitability, which is a major positive for shareholders. However, the auditors' emphasis of matter regarding an unresolved dispute with an associate entity (White River Properties LLP) and inability to consolidate its financials could raise concerns about potential contingent liabilities related to the land asset held by that entity.