Submission of newspaper cutting of publication of audited financial Results Quarter and Year Ended March, 31 2025.
Awaiting price reaction for this filing.
RCI Industries & Technologies Limited submitted the newspaper advertisement (published in Financial Express and Jansatta on September 2, 2025) of its consolidated audited financial results for FY23, as required under SEBI Listing Regulations. The company is currently under the Corporate Insolvency Resolution Process (CIRP), initiated by Standard Chartered Bank (Singapore) Limited under Section 9 of the IBC, 2016, with NCLT commencing proceedings on November 25, 2022. For FY23, consolidated revenue from operations collapsed to Rs. 2,301.89 lakhs from Rs. 5,968.13 lakhs in FY22, and the company reported a net loss after tax of Rs. 1,719.34 lakhs, although narrower than the Rs. 7,166.32 lakh loss in FY22. The filing notes that the company's net worth is fully eroded, lenders have classified its account as NPA, and the Resolution Professional had to file an intervention application because the suspended board was uncooperative in providing information.
This is a compliance filing, but the underlying numbers confirm the stock is extremely high risk — revenue has more than halved, losses persist, net worth is wiped out, and revival now hinges entirely on the CIRP outcome. Existing shareholders face near-total loss risk pending a resolution plan; recovery, if any, depends on what bidders offer under the insolvency process.