Please Find enclosed herewith Audited Results of the Company for the Financial Year Ended 31st March, 2025
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RLF Ltd reported audited FY25 results with total revenue falling to ₹154.85 lakhs from ₹236.53 lakhs in FY24 (a ~35% decline), while revenue from operations dropped roughly 42% to about ₹108 lakhs. The company swung to a loss after tax of ₹22.82 lakhs in FY25 versus a small profit of ₹4.46 lakhs in FY24, with EBITDA margin also compressing. The statutory auditor (M/s R K Bhalla & Co.) issued an unmodified opinion but flagged multiple emphasis-of-matter issues: FEMA non-compliance on forex receivables of USD 31,977, unbooked 9.25% interest on group company loans given and on borrowings taken, default in PF/ESI statutory payments with no provision for interest/penalty, and a negative working capital position with current liabilities exceeding current assets by ₹117.06 lakhs along with operating losses of ₹20.62 lakhs. The previous year was audited by a predecessor auditor (Ravi Ranjan & Co. LLP).
This is a stressed filing — falling revenues, negative PAT, negative working capital, defaulted statutory dues, and several accounting irregularities flagged by the auditor all point to financial weakness, though the unmodified opinion and positive net worth of ~₹2,745 lakhs provide some cushion. Shareholders should watch closely whether management's asset monetisation and recovery plans actually materialise, as further deterioration could put the going-concern assumption at risk.