Board approves FY26 results; auditor flags MMB bank guarantee encashment of Rs 330 cr
RKEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board approved FY26 results. Standalone revenue fell to about Rs 180 cr from Rs 399 cr. The company swung to a loss before tax of about Rs 47 cr versus Rs 30 cr profit last year. PAT is negative at about Rs 35 cr. Auditor gave unmodified opinion but flagged: Rs 330 cr bank guarantees encashed by ICICI, CSB and Bank of Baroda over MMB contract disputes, DRT and IBC legal proceedings by lenders, unpaid statutory dues of about Rs 27 cr (TDS, PF, GST), and negative operating cash flow of about Rs 30 cr.
Major red flags: Rs 330 cr bank guarantee encashment and lender legal action raise serious survival concerns; losses and negative cash flow add pressure.