This is to inform you that the Board of Directors at its meeting held today has appoved the allotment of 10,00,000 equity shares pursuant to the conversion of share warrants issued on preferential ....
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RDB Infrastructure and Power's board met on November 13, 2025 and approved unaudited standalone and consolidated financial results for Q2 and H1 FY26 (ended September 30, 2025). On a standalone basis, H1 FY26 revenue from operations rose about 36% year-on-year to Rs. 86.05 crore, while net profit more than doubled to Rs. 5.77 crore from Rs. 2.65 crore in H1 FY25. Total income for Q2 FY26 stood at Rs. 22.62 crore. The board also allotted 10,00,000 equity shares (Re. 1 face value) to a non-promoter allottee (Ami Jasmine Shah) upon conversion of warrants at Rs. 40.5 per share, raising Rs. 3.04 crore and taking paid-up capital to Rs. 20.39 crore. The auditor (L.B. Jha & Co.) flagged a concern that the Rs. 60 crore Anjana project slump sale income booked in Q1 FY26 should have been treated as 'Other Income' rather than revenue from operations. Operating cash flow turned negative at Rs. (579.59) lakh in H1 FY26 versus Rs. 916.43 lakh in H1 FY25.
Strong headline earnings growth is positive, but the auditor's observation on Anjana project revenue classification and the sharp swing to negative operating cash flow raise quality-of-earnings concerns. The warrant conversion is only mildly dilutive (10 lakh shares added to a base of 20.39 crore), so equity dilution impact is minimal. Shareholders should watch for the audited full-year numbers and clarity on the Anjana project treatment.