Submission of Newspaper cutting of financial Results quarter and nine months ending December, 2024
Awaiting price reaction for this filing.
RCI Industries & Technologies Ltd, which is currently under Corporate Insolvency Resolution Process (CIRP), submitted copies of newspaper advertisements of its unaudited consolidated financial results for the quarter and nine months ended December 31, 2024. Revenue from operations stood at Rs 46.95 lakhs in Q3 FY25, marginally lower than Rs 48.86 lakhs in Q3 FY24 but higher than Rs 22.77 lakhs in the previous quarter. The company reported a net loss of Rs 142.65 lakhs for the quarter, though the nine-month loss narrowed to Rs 439.15 lakhs from Rs 702.87 lakhs a year ago. EPS stood at negative Rs 0.91 for the quarter. The company's net worth is fully eroded, and its loan account has been classified as NPA since FY20. A Resolution Plan approved by the Committee of Creditors is awaiting NCLT approval, with hearings concluded on July 31, 2025.
This is a procedural compliance filing with no new business update, but it highlights that the company remains deeply loss-making and dependent on the insolvency resolution process for revival. Shareholders should note the ongoing uncertainty as the outcome of the NCLT-approved resolution plan will determine the future of the company and any recovery for equity holders, whose capital is effectively wiped out given the fully eroded net worth.