BSE: 504746
INDIAN LINK CHAIN MANUFACTURES
Has changed its corporate name from Indian Link Chain Manufacturers Limited to RRP Electronics India Limited with effect from 12 January 2026, signalling a pivot in business focus. As disclosed in its FY26 audited results, the company now lists electronics manufacturing alongside data centre and cloud computing as its stated business areas. The company currently has no revenue from operations — total income of ₹29.47 lakhs for FY26 and ₹7.20 lakhs for Q3 FY26 is entirely from "other income", with operating revenue effectively nil (₹0.04 lakhs in Q4 FY26). It reported a net loss of ₹21.09 lakhs for FY26, against a profit of ₹14.62 lakhs in FY25, while operating cash outflows widened to ₹(1,972.11) lakhs. During the year the company raised roughly ₹1,960 lakhs through share capital, share premium and share warrants, pushing equity to ₹2,272.79 lakhs and total assets to ₹24.01 crore. It also deployed ₹1,914.08 lakhs into loans and advances, indicating the capital is being parked as advances rather than spent on operational build-out disclosed in the filings. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Electronics manufacturing, Data centre and cloud computing. Transitional small-cap entity rebranded from chain manufacturing to electronics and data centre business, currently generating no operating revenue
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (1) | (1) | (0) | (0) | (0) |
| margin % | — | — | — | — | — |
| Owners' profit | (0) | (0) | 0 | 0 | (0) |
| EPS, as reported (₹) | (92.34) | (91.26) | 17.94 | 21.88 | 1.24 |
| ROE % · ROCE % | (12.9) · (12.9) | (14.6) · (14.6) | 2.8 · 2.8 | 3.3 · 4.4 | (0.9) · (0.9) |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Cash from operations | (1) | (1) | (0) | (0) | (20) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | (0) | (0) | (0) |
| Net profit | 0 | 0 | 0 | 0 | 0 | (0) | (0) | (0) |
| EPS (₹) | 8.13 | 7.66 | 7.84 | 5.60 | 5.54 | 0.40 | (5.90) | (0.19) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HBL ENGINEERING LTD | 22,455 | 24.3 | 10.14 | 19.3 | 36.8 | 45.3 | 29.4 | 26.2 |
| INOX INDIA LIMITED | 17,354 | 68.1 | 15.53 | 45.2 | 23.1 | 30.0 | — | 23.4 |
| ESAB INDIA LTD | 8,153 | 36.8 | 18.99 | — | 48.1 | 60.4 | — | 19.2 |
| HARSHA ENGINEERS INT LTD | 3,887 | 25.1 | 2.77 | 15.2 | 11.1 | 13.2 | — | 15.9 |
| W P I L LTD. | 3,868 | 24.5 | 1.97 | 11.1 | 10.2 | 13.1 | 13.3 | 17.7 |
| SUBROS LIMITED | 3,834 | 23.1 | 3.08 | 10.9 | 13.3 | 16.0 | 15.9 | 8.4 |
| ADOR WELDING LTD | 2,370 | 20.9 | 4.28 | 17.0 | 14.8 | 19.9 | 20.6 | 13.8 |
| DIFFUSION ENGINEERS LTD | 1,505 | 27.4 | 3.71 | 20.1 | 12.4 | 15.2 | — | 16.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 3.1 | 2.5 | 15 of 24 | 39% |
| ROCE | (0.9) | 12.3 | 29 of 31 | 7% |
| ROE | (0.9) | 10.3 | 21 of 24 | 13% |
| Debt / Equity | 0.0 | 0.2 | 4 of 24 | 87% |
| Profit growth | (285.4) | (5.0) | 23 of 23 | 0% |
| Market cap | 72 | 103 | 21 of 31 | 33% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 13 Oct 2026 · Routine SEBI compliance certificate on share demat for Sep 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · Trading window closes from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 17 Sept 2026 · RRP Electronics gets 3-month extension to hold 68th AGM till Dec 31, 2026 | regulatory legal | medium | — | — |
| 2 Sept 2026 · Board approves 3-month extension for 68th AGM citing post-listing transition | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Q1 FY27 loss widens, revenue from operations near zero | results | high | — | — |
| 10 Aug 2026 · RRP Electronics Q1 FY27: negligible revenue, Rs 5.19 lakh net loss | results | high | — | — |
| 5 Aug 2026 · Board meeting on Aug 10, 2026 to consider Q1 FY26 results | results | low | — | — |
| 29 Jul 2026 · Clarification on share price movement | regulatory legal | medium | — | — |
| 24 Jul 2026 · BSE seeks clarification from Indian Link Chain on sharp price movement | regulatory legal | medium | — | — |
| 3 Jul 2026 · Quarterly RTA demat confirmation certificate filed with BSE | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.