Outcome of Board Meeting pursuant to Regulation 30 of SEBI (Listing Obligation & Disclosure Requirements) Regulation, 2015.
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RLF Ltd's board approved standalone unaudited financial results for Q3 and nine months ended December 31, 2025. Revenue from operations fell sharply to Rs 24.77 lakhs in Q3 (vs Rs 35.38 lakhs in Q3 FY25) and 9M revenue dropped to Rs 40.95 lakhs from Rs 74.66 lakhs, a ~45% YoY decline. The company swung to a 9M loss of Rs 7.46 lakhs (vs a profit of Rs 10.41 lakhs in 9M FY25), though net worth remains positive at Rs 1,780.62 lakhs. The board also gave in-principle approval to diversify into the sports sector—covering sports surfaces, goods, construction, and event management—subject to due diligence and regulatory approvals. The auditor flagged several concerns, including FEMA-related foreign receivable delays, unbooked interest on related party loans/borrowings, default in PF/statutory payments, and a going concern-style note on management's recovery plans.
Falling revenue and a return to losses signal operational stress, while the auditor's emphasis-of-matter notes on unbooked interest and statutory defaults add quality-of-earnings concerns. The proposed sports sector pivot is the key forward catalyst—execution and successful due diligence could re-rate the stock, but until then, near-term financial performance remains weak.