RKEC Projects Limited has informed the Exchange about change in Management
RKEC · price
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On the reaction day the stock moved 2.9 pts less than Nifty Microcap 250 and 2.8 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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RKEC Projects Limited's board (meeting held May 28, 2025) approved audited standalone and consolidated financial results for FY ended March 31, 2025. Standalone revenue from operations rose ~17% to Rs. 39.90 crores (vs Rs. 34.11 crores in FY24), while net profit grew marginally to Rs. 20.03 crores (vs Rs. 19.87 crores); EPS stood at Rs. 8.35 (vs Rs. 8.28). Consolidated revenue was Rs. 42.15 crores with net profit of Rs. 20.04 crores. The board approved issuing up to 18.30 lakh equity shares at Rs. 82 each (aggregating up to Rs. 15.06 crores) on a preferential basis to promoter Shri Garapati Radhakrishna for conversion of an existing loan, raising his stake from 63.81% to 66.37%. Lt. Gen. P R Kumar was re-appointed as Independent Director for a second 5-year term from July 29, 2025. New Internal, Cost, and Secretarial Auditors were also appointed. An EGM is scheduled for June 25, 2025. The statutory auditor flagged an emphasis-of-matter note that Rs. 21.01 crores in book debts have remained unrecoverable for a long time with no provision made.
Revenue growth is healthy but profitability gains are muted, with finance costs weighing on margins. The preferential allotment to the promoter is mildly dilutive for minority shareholders but signals promoter confidence via loan-to-equity conversion. The auditor's flag on Rs. 21 crores of unrecoverable book debts without any provision is a key risk point investors should monitor.