Un-audited financial results for quarter and half year ended 30.09.2025
Awaiting price reaction for this filing.
RCI Industries, currently under CIRP, reported revenue from operations of Rs 357.83 lakhs for Q2 FY26 and the half-year (vs Rs 36 lakhs in H1 FY25, nearly 10x growth) along with other income of Rs 167.30 lakhs. The company swung to a standalone net profit of Rs 156.44 lakhs in Q2, reducing the H1 FY26 loss to Rs 140.27 lakhs from Rs 296.50 lakhs a year earlier. The balance sheet remains deeply stressed with fully eroded net worth (negative Rs 15,580.73 lakhs), current borrowings of Rs 21,732.89 lakhs, and cash of just Rs 4.43 lakhs. The resolution plan submitted by JTL Industries Limited was approved by NCLT on October 9, 2025, and a Monitoring Committee (chaired by the erstwhile Resolution Professional Mr. Brijesh Singh Bhadauriya) is now overseeing the revival.
For existing shareholders, the revenue pickup and return to quarterly profit are positive signals after years of stress, but the auditor issued a qualified review report citing inability to verify PPE, CWIP, and investments, while flagging massive going-concern uncertainty, fully eroded net worth, forensic audit findings of fraudulent transactions worth Rs 369.71 crores, and ongoing investigations by SFIO, ED, DGGST and Income Tax (including alleged fake ITC of Rs 214 crores). The stock remains high-risk until the JTL resolution plan is fully implemented and regulatory matters are resolved.