RattanIndia Power Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
RTNPOWER · price
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On the reaction day the stock moved 5.7 pts less than Nifty Microcap 250 and 5.8 pts less than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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RattanIndia Power reported a weak Q1 FY26, with consolidated revenue from operations falling to ₹821.96 cr from ₹931.83 cr a year ago (down ~12% YoY). The company swung to a consolidated loss of ₹13.41 cr versus a profit of ₹93 cr in Q1 FY25, driven by higher finance costs (₹148.18 cr vs ₹120.76 cr) and lower operating revenue. EPS turned negative at ₹(0.02) and other equity remains deeply negative at ₹(785.08) cr, indicating accumulated losses. On the positive side, the company fully repaid its Secured Non-Convertible Debentures (Series I and II) during the quarter. The statutory auditor (Walker Chandiok & Co LLP) issued a clean limited review report but flagged an Emphasis of Matter on an IBC Section 7 application filed by a small Redeemable Preference Share (RPS) holder (₹28.72 cr), which the company disputes. MSEDCL has paid ₹876.84 cr towards Change in Law claims, and a BHEL arbitration appeal remains pending with asset attachment ordered.
Sharp swing to loss and unresolved IBC/legal overhangs are negatives for the stock in the short term, though full NCD repayment and ongoing MSEDCL recoveries show balance sheet improvement efforts. The Emphasis of Matter and ongoing disputes (BHEL arbitration, RPS redemption, coal bank guarantee invocation risk) keep risk premium elevated for shareholders.