Unaudited Result for the quarter and half year ended on September 30, 2025.
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Awaiting price reaction for this filing.
Royal Cushion Vinyl Products reported a loss of Rs. 299.56 lakhs for H1 FY26, nearly three times the Rs. 102.96 lakh loss in H1 FY25. Revenue from operations fell to Rs. 3,144.08 lakhs (H1 FY25: Rs. 3,294.61 lakhs), but other income of Rs. 468.82 lakhs boosted total income to Rs. 3,612.90 lakhs. Finance costs surged to Rs. 377.87 lakhs from Rs. 110.64 lakhs, the key reason losses widened. The company now has negative shareholder equity of Rs. (3,171.44) lakhs against total borrowings of Rs. 8,834.61 lakhs. Operating cash flow remained negative at Rs. (73.16) lakhs, though improved from Rs. (429.84) lakhs a year ago. Management has explicitly stated it is preparing accounts on a going concern basis, citing order book strength and a planned preferential equity issue.
This is a deeply negative set of results for shareholders: losses are widening sharply, equity has turned negative, and debt has ballooned. The stock is likely to face selling pressure. The going concern note and pending preferential equity raise are critical near-term watchpoints.