Outcome of the Board Meeting held on Thursday, 28.05.2026 at 02.30 P.m.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Rathi Bars Limited reported audited financial results for FY 2025-26 (year ended March 31, 2026) with a net loss of Rs 1,152.26 lakh compared to profit of Rs 286.55 lakh in FY 2024-25. Revenue declined to Rs 36,859.90 lakh from Rs 49,628.82 lakh. Auditor MASAR & Co. issued a qualified opinion citing multiple concerns: bank defaults on cash credit facilities (Axis Bank Rs 60.08 crore, Yes Bank Rs 19.68 crore) and term loan (HDFC Bank Rs 4.07 crore), invoice discounting of Rs 64.21 crore under litigation, and manufacturing operations remaining suspended since April 2026. The Income Tax Department conducted a search in December 2025 with ongoing proceedings. Sundry debtors of Rs 94.56 crore include Rs 30 crore approximately in dispute, with 25% provision created for bad debts. The Company Secretary position is vacant. The company is pursuing revival through a writ petition in Rajasthan High Court and ongoing discussions with bankers for moratorium and restructuring.
The qualified audit opinion with going concern uncertainty, bank defaults, suspended operations, and steep revenue decline signal extreme financial distress. Shareholders face high risk as the company fights for survival with multiple lenders, ongoing tax scrutiny, and disputed receivables.