Out Come of Board Meeting and Un-Audited Financial Result for the Quarter ended 30-06-2025
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Rasandik Engineering Industries reported weak Q1 FY26 results with revenue from operations falling to Rs. 1,387.11 lakhs from Rs. 1,786.28 lakhs in the same quarter last year, a decline of about 22%. The company slipped into a net loss of Rs. 112.31 lakhs compared to a profit of Rs. 146.19 lakhs in Q1 FY25, translating to a loss per share of Rs. 1.88. Total expenses stood at Rs. 1,535.53 lakhs, exceeding total income and pushing the company into a pre-tax loss of Rs. 148.15 lakhs. The auditor (V. Sankar Aiyar & Co.) flagged a going concern issue, noting current liabilities exceed current assets by Rs. 1,567.11 lakhs, with management relying on financial support from the promoter to continue operations. The auditor also drew attention to Rs. 320 lakhs of stranded capital work-in-progress from the now-defunct Singur project and a contingent liability of Rs. 708.67 lakhs (up from Rs. 698.05 lakhs) related to a pending CESTAT appeal on export obligations.
Shareholders face continuing losses, rising working capital stress, and unresolved legacy issues from the Singur project and export obligations. The dependence on promoter financial support signals liquidity weakness, and the negative auditor emphasis on going concern is a significant red flag for investors.