Audited financial results for the quarter and financial year ended on March 31, 2026
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RattanIndia Power reported consolidated revenue of Rs. 2,991 crore for FY26, down 9% from Rs. 3,284 crore in FY25. Profit after tax dropped significantly to Rs. 52 crore from Rs. 222 crore in the previous year—a 76% decline—driven largely by higher finance costs of Rs. 461 crore. Other equity remains negative at Rs. 732 crore (consolidated). The company has total borrowings of Rs. 3,637 crore (non-current Rs. 2,728 crore plus current Rs. 909 crore). The statutory auditor issued an Emphasis of Matter regarding unredeemed Redeemable Preference Shares of Rs. 250 crore that were due since December 2021, with an ongoing appeal at NCLAT. Cash and cash equivalents declined sharply to Rs. 10 crore from Rs. 178 crore.
The sharp decline in profitability and negative equity position raise concerns about financial stability. Shareholders should monitor the unresolved RPS redemption matter and the pending NCLAT appeal, which could have material implications. The significant drop in profit despite relatively stable revenue indicates margin compression.