Submission of newspaper cutting of financial results quarter and six months ending september, 2024
Awaiting price reaction for this filing.
RCI Industries & Technologies Limited has submitted copies of newspaper advertisements (Financial Express and Jansatta) to BSE containing its unaudited consolidated financial results for the quarter and six months ended September 30, 2024, as required under SEBI listing rules. Revenue from operations dropped sharply to Rs. 22.77 lakhs in Q2 FY25, down from Rs. 69.83 lakhs in Q2 FY24, with H1 FY25 revenue at Rs. 36 lakhs versus Rs. 156.21 lakhs a year earlier. The company reported a net loss of Rs. 138.57 lakhs for the quarter and Rs. 296.50 lakhs for the half year, though both are narrower than the prior year losses. The results were reviewed by the Resolution Professional on September 25, 2025, given that the company is under the Corporate Insolvency Resolution Process (CIRP) initiated by Standard Chartered Bank (Singapore) Limited in November 2022, with its net worth fully eroded and the Resolution Plan pending NCLT approval after hearings concluded on July 31, 2025.
For shareholders, this is a deeply distressed company with eroding net worth and ongoing insolvency proceedings — the stock remains high-risk. The NCLT's pending ruling on the approved Resolution Plan is the key event to watch, as it will decide whether the business revives or heads toward liquidation.