Re-appointment of Cost Auditors of the Company For The Financial Year 2026-27.
Awaiting price reaction for this filing.
JTL Defence Ltd (formerly RCI Industries & Technologies Ltd) reported strong recovery in FY2025-26 after emerging from Corporate Insolvency Resolution Process (CIRP) under IBC 2016. Revenue jumped to Rs. 1,928.77 Lakhs from just Rs. 97.99 Lakhs in the previous year, while net profit turned positive at Rs. 26.78 Lakhs versus a loss of Rs. 644.04 Lakhs. The company recognized a massive revaluation surplus of Rs. 18,921.26 Lakhs on Property, Plant and Equipment, which inflated Other Comprehensive Income to Rs. 14,159.16 Lakhs. Total assets nearly quadrupled from Rs. 9,141 Lakhs to Rs. 33,047 Lakhs. However, operating cash flow remained deeply negative at Rs. 1,548.43 Lakhs. The Board also reappointed M/s Balwinder & Associates as Cost Auditors for FY 2026-27 and updated multiple governance policies. The statutory auditor issued an unmodified opinion but flagged emphasis of matter on PPE revaluation, pending recovery of financial assets, taxation notices from pre-NCLT period, and unconfirmed long-standing investments worth Rs. 1,186.17 Lakhs.
The company has structurally turned around from insolvency, but the stock price impact may be mixed due to negative operating cash flows, significant asset recoverability concerns flagged by auditors, and pending tax notices. The OCI-driven comprehensive income boost is largely non-cash and related to revaluation.