A BSE-listed textiles company that has effectively wound down its operating business. Filings state it operates as a single-segment textiles business, but revenue from operations fell to zero in Q3 FY26, and 9M FY26 total income dropped to Rs 0.99 lakh from Rs 1.56 crore in the prior-year period. The statutory auditor (DGMS & Co.) has issued a qualified opinion on the FY26 results, flagging going concern doubts due to recurring cash losses and erosion of net worth, and the company confirms it relies on promoter group funding to sustain operations. Other operating expenses dominate the cost base at Rs 0.3261 crore (329.4% of FY26 revenue), with employee cost at Rs 0.02 crore (20.2% of revenue). As a directional shift, the board has approved acquiring 51% of FA Wizard Pvt Ltd, a fintech loan distribution platform, to be discharged primarily via a share swap worth Rs 20.69 crore, along with a preferential issue of 18 lakh shares at Rs 33 and 1 crore convertible warrants at Rs 33. The acquisition is pending shareholder approval at an EGM scheduled for August 13, 2026. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Textiles (100%). Small, distressed single-segment textiles company with a going-concern flag, pivoting toward fintech loan distribution.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 27,127 | 0 | 0 | 2 | 0 |
| EBITDA (ex other income) | (1,413) | (0) | (0) | (0) | (0) |
| margin % | (5.2) | — | (8.6) | (16.7) | (319.3) |
| Owners' profit | (1,413) | (0) | (0) | (0) | (0) |
| EPS, as reported (₹) | (0.03) | (0.22) | (0.05) | 0.45 | 0.55 |
| ROE % · ROCE % | (16.1) · (16.1) | (778.0) · (121.7) | 159.9 · 223.5 | (142.2) · (142.2) | 238.4 · 240.2 |
| Debt / equity (x) | 1.33 | 4.54 | (4.31) | 0.43 | (0.92) |
| Cash from operations | 14,526 | (0) | (0) | (0) | (0) |
| Capex | 0 | 0 | 0 | 0 | 0 |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | 0 | (1) | 0 | (0) | (0) | (0) | (0) |
| Net profit | (0) | 0 | (1) | 0 | (0) | (0) | (0) | (0) |
| EPS (₹) | 0.00 | 34.34 | 0.94 | 0.02 | 0.03 | 0.42 | 0.12 | 0.19 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KPR MILL LTD. | 37,974 | 41.6 | 6.66 | 27.5 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 19,663 | 71.5 | 3.95 | 25.3 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 16,368 | 19.0 | 1.55 | 12.4 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 11,965 | 30.1 | 2.51 | 14.5 | 7.9 | 8.6 | 8.1 | 17.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Sept 2026 · Letter sent to shareholders with web-link of FY26 Annual Report | compliance | minimal | — | — |
| 2 Sept 2026 · RSC International files 33rd Annual Report and AGM Notice for FY26 | board shareholder meetings | medium | — | — |
| 2 Sept 2026 · RSC International 33rd AGM on Sep 26, 2026; major pivot to financial services planned | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Board appoints Company Secretary, approves Annual Report and 33rd AGM notice | management changes | medium | — | — |
| 1 Sept 2026 · Board approves new CS, FY26 Annual Report and 33rd AGM on Sept 26 | board shareholder meetings | low | — | — |
| 31 Aug 2026 · RSC International appoints new statutory and secretarial auditors | management changes | medium | — | — |
| 31 Aug 2026 · Board appoints new statutory and secretarial auditors | management changes | medium | — | — |
| 13 Aug 2026 · RSC International EGM held on Aug 13, 2026; six special resolutions moved | board shareholder meetings | medium | — | — |
| 12 Aug 2026 · Newspaper publication of Q1 unaudited financial results | compliance | minimal | — | — |
| 11 Aug 2026 · Qualified Audit Opinion for Q1 FY27, Going Concern Doubt Flagged | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| INDO COUNT INDUSTRIES LTD |
| 8,757 |
| 58.0 |
| 3.72 |
| 21.1 |
| 5.4 |
| 5.4 |
| 10.5 |
| 13.3 |
| GARWARE TECH FIBRES LTD | 7,675 | 37.1 | 5.67 | 24.0 | 14.7 | 18.7 | 8.1 | 20.5 |
| JINDAL WORLDWIDE LTD | 5,314 | 63.1 | 6.17 | 40.6 | 8.1 | 9.0 | 6.1 | 8.7 |
| RAYMOND LIFESTYLE LIMITED | 4,213 | 97.2 | 0.44 | 7.7 | 0.5 | 0.7 | — | 8.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 110.9 | 14.8 | 193 of 205 | 6% |
| ROCE | 240.2 | 4.2 | 1 of 227 | 100% |
| ROE | 238.4 | 4.8 | 2 of 214 | 100% |
| Debt / Equity | (0.9) | 0.3 | 16 of 214 | 93% |
| Revenue growth | (100.0) | 6.9 | 186 of 192 | 0% |
| Profit growth | (922.8) | 20.0 | 198 of 203 | 3% |
| Market cap | 48 | 63 | 123 of 221 | 45% |
| 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 |
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.
