Outcome of Board Meeting held on 23-05-2025 approving Audited Financial Results for the quarter and year ended March 31, 2025 and other items.
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Rasandik Engineering Industries India reported audited FY25 results showing a sharp deterioration. Revenue from operations fell about 28% to Rs. 6,217.64 lakhs from Rs. 8,625.29 lakhs a year ago. The company swung to a net loss of Rs. 558.48 lakhs versus a profit of Rs. 712.87 lakhs in FY24, impacted by a Rs. 925.80 lakh exceptional inventory write-down and weaker operations. EPS was Rs. (9.35) versus Rs. 11.93 earlier. Statutory auditor V. Sankar Aiyar & Co. issued an unmodified opinion but highlighted a going concern note (net current liabilities of Rs. 1,458.08 lakhs) and emphasis-of-matter on inventory evaluation and EPCG/export-obligation related contingent liabilities. The Board also approved re-appointment of Rajiv Kapoor as CMD for 5 years, re-appointment of an Independent Director, and appointment of a new Secretarial Auditor. The 41st AGM is fixed for August 1, 2025.
Negative for shareholders — the company moved from profit to loss with revenue shrinking sharply and flagged going concern concerns, raising questions about near-term liquidity. Asset sales and promoter financial support are being relied upon to sustain operations; investors should watch working capital improvement and resolution of the EPCG contingent liability (~Rs. 698 lakhs potential interest exposure).