Un-audited financial Results for the quarter ended 30th June, 2025
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Ravi Kumar Distilleries reported Q1 FY26 revenue from operations of Rs. 811.36 lakhs, down sharply from Rs. 1,391.80 lakhs in Q1 FY25 (a ~41.7% year-on-year decline). Profit after tax for the quarter stood at Rs. 2.78 lakhs versus Rs. 3.90 lakhs a year earlier, with EPS of Rs. 0.01. The board also approved re-appointment of the Managing Director and Whole-time Director for 3 years from April 2026, and proposed appointing M/s. Ramanand & Associates as the new statutory auditor for 5 years from FY 2025-26, replacing the current reviewer Abhishek S Tiwari & Associates. The auditor's review report highlighted several qualifications, including Rs. 2,900.25 lakhs in disputed recoverable amounts with no expected credit loss provision, Rs. 825.71 lakhs investment in Liquor India Limited pending sub-judice resolution, and Rs. 257.87 lakhs in unpaid statutory dues with no interest provision.
Sharp revenue contraction and a qualified auditor's review raise concerns about business momentum and asset quality; the proposed auditor change during the financial year is an additional red flag for shareholders to watch closely.