RKEC Projects appoints new independent director, flags FY26 auditor concerns
RKEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
RKEC Projects board on Aug 10, 2026 appointed Mrs. Jeevan Jyoti Volla as Independent Director for a 5-year term and approved audited FY26 results. Standalone revenue fell sharply to about Rs 180 crore from Rs 399 crore, with the company swinging to a pre-tax loss of about Rs 47 crore versus a profit last year. Auditor SARC & Associates issued an unmodified opinion but flagged serious concerns: bank guarantees of about Rs 330 crore encashed by ICICI, CSB and Bank of Baroda over MMB contract disputes, legal proceedings before DRT and IBC, and unpaid statutory dues of about Rs 27 crore (TDS, PF, GST).
New independent director is routine. Sharp revenue drop, pre-tax loss, encashed guarantees and unpaid statutory dues are major red flags for investors.