Outcome of Board Meeting is enclosed herewith.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors of RR MetalMakers India Ltd, at their meeting held on May 21, 2025, approved the audited standalone financial results for Q4 FY25 and the full financial year ended March 31, 2025. Total revenue for FY25 stood at Rs. 5,250.82 lakhs, a steep drop from Rs. 9,680.37 lakhs in FY24. Profit before tax was Rs. 167.65 lakhs, but profit after tax fell to Rs. 105.12 lakhs (from Rs. 167.65 lakhs in FY24), with EPS declining to Rs. 1.17 from Rs. 1.86. The statutory auditor (M.A. Chavan & Co.) issued a qualified opinion on the results, flagging two issues: (1) Rs. 1,000.75 lakhs in export revenue from Prisha International PTE Ltd. recognized even though goods were not actually delivered, and (2) Rs. 61.17 lakhs in old receivables (over 3 years) where no impairment loss was recognized. The auditor also highlighted that the company plans to sell its Ahmedabad manufacturing plant (approved by shareholders via EGM on March 27, 2025) and that a GST audit by the CGST Department detected Rs. 128.03 lakhs in additional revenue for FY18-19 to FY22-23, with assessment still ongoing.
Negative near-term signals for shareholders — revenue has nearly halved year-on-year, profits have declined, the auditor has flagged a qualified opinion with concerns over revenue recognition and unrecovered old debts, there is an ongoing GST tax dispute, and the company is selling its manufacturing plant. These factors together suggest heightened business and compliance risk which could weigh on the stock price and investor confidence.