Quarterly and yearly results for the fy ended March 31, 2026
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Rathi Bars Limited reported a net loss of Rs 11.62 crore for FY26 versus a net profit of Rs 2.87 crore in FY25, with revenue declining 26% to Rs 368.60 crore. The auditor MASAR & Co. issued a qualified opinion citing multiple concerns: manufacturing operations remain suspended since April 2026, bank defaults on Cash Credit facilities with Axis Bank (Rs 60.08 crore) and Yes Bank (Rs 19.68 crore), default on HDFC Bank term loan (Rs 4.07 crore) since January 2026, and Rs 64.21 crore TReDS liability under litigation. The auditor explicitly flagged going concern uncertainty due to operational suspension, income tax search proceedings in December 2025, and ongoing discussions with lenders for restructuring. Trade receivables of Rs 94.56 crore include Rs 23 crore in disputed balances. The company filed a writ petition in Rajasthan High Court for re-commencement of operations.
The qualified auditor opinion, operational suspension, multiple loan defaults, and going concern flag signal extreme financial distress. Shareholders face heightened risk as the company attempts revival through legal and lender negotiations while operations remain halted.