The Board of Directors at its meeting held today has considered and approved the Un-audited financials results of the Company for the quarter and six months ended on 30 September, 2025
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RDB Infrastructure & Power Ltd (formerly RDB Realty & Infrastructure) approved its Q2 FY26 and H1 FY26 unaudited results on November 13, 2025. On a standalone basis, revenue from operations for H1 FY26 rose about 36% year-on-year to Rs. 8,605.42 lakhs (vs Rs. 6,318.50 lakhs), while profit after tax more than doubled to Rs. 576.80 lakhs (vs Rs. 265.16 lakhs), up roughly 117%. Q2 standalone PAT was Rs. 304.55 lakhs versus Rs. 170.36 lakhs a year ago. The strong H1 numbers were boosted by a Rs. 60 crore slump sale of the Anjana project recognized in Q1 FY26, yielding Rs. 2.49 crore profit. The statutory auditor flagged this in the limited review report, noting that only the profit element should ideally have been shown under 'Other Income' rather than as revenue from operations. Separately, 10 lakh warrants held by one non-promoter allottee were converted into equity shares at Rs. 40.5 per share, bringing in Rs. 3.04 crore and raising paid-up capital to Rs. 20.39 crore. The company also reported consolidated results for the first time after acquiring 51% in RDB Bhopal Infrastructure and 26% in Naar Projects, with consolidated H1 PAT of Rs. 576.89 lakhs.
Headline H1 earnings look strong with revenue up ~36% and PAT more than doubling, but the auditor's emphasis of matter on the Anjana project revenue classification is a yellow flag investors should watch. The Q2 standalone quarter was much softer sequentially because the big Anjana sale was booked in Q1, and the first-time consolidated cash flow from operations is sharply negative, warranting closer scrutiny. The small warrant conversion is mildly dilutive but not material to existing shareholders.