Financial Performance Highlights
Consolidated FY26:
- Total Income: ₹259.21 crores (↑29% YoY)
- Revenue from Operations: ₹257.07 crores (↑29% YoY)
- EBITDA: ₹75 crores (↑40% YoY)
- PAT: ₹55 crores (↑48% YoY)
- EPS: ₹11.94 (↑48% YoY)
- Cash Flow from Operations: ₹37 crores
- ROCE: 28% (improved from 26% in FY25)
- ROE: 19% (10-year average)
Standalone FY26:
- Revenue from Operations: ₹1,143.17 crore (FY25: ₹1,153.78 crore)
- Other Income: ₹71.92 crore (FY25: ₹24.67 crore)
- Profit Before Tax: ₹377.14 crore (FY25: ₹288.34 crore)
- Profit After Tax: ₹291.68 crore (↑36% YoY)
- EPS: ₹6.35 (FY25: ₹4.66)
- Total Assets: ₹2,171.36 crore (FY25: ₹1,980.34 crore)
- Total Equity: ₹2,039.55 crore (FY25: ₹1,787.79 crore)
Operational Highlights
- Production: 332 KMT
- Capacity Utilization: 80%
- Market Share: 14% domestic market share (increased from 3.5% in FY16)
- Export Presence: 39+ countries
- Customer Concentration: <30% from top 10 customers
Dividend Declaration
- Final Dividend: ₹1.00 per equity share (same as previous year)
- Total Dividend Outgo: ₹4.59 crores
- Record Date: June 19, 2027
- Payment: Subject to members' approval at 17th AGM
Capacity Expansion
- Current Capacity: 414 KTPA
- Proposed Expansion: 120 KTPA additional capacity
- New Total Capacity: 534 KTPA
- Implementation: Brownfield expansion at existing facilities
- Commissioning: Phased approach with full capacity expected by October 1, 2026
- Entity-wise Breakdown:
- RPEL: From 144K to 180K MTPA (+36K MTPA)
- RPSPL: From 270K to 354K MTPA (+84K MTPA)
Subsidiary Performance & Transactions
- Raghav Productivity Solutions Private Limited: Wholly-owned subsidiary, became material subsidiary w.e.f April 1, 2025
- Subsidiary PAT: ₹30.24 crores for FY26
- Subsidiary Dividend: ₹50 per equity share recommended
- Loans to Subsidiary: Provided loans totaling ₹369.94 crore during the year for principal business activities
- Loan Repayments: Received ₹405.61 crore in repayments
- Interest Charged: @7.50% p.a. totaling ₹5.38 crore
Investments & Financial Position
- Mutual Fund Investments: Valued at ₹406.93 crore as of March 31, 2026
- Credit Rating: CRISIL A-/Positive (outlook revised from 'Stable')
- Current Ratio: 11.08 times (FY25: 6.65 times)
- Return on Equity: 15.24% (FY25: 12.67%)
- Net Profit Margin: 18.71% (FY25: 18.54%)
Audit Findings & Compliance
Auditor: A. Bafna & Co. (FRN: 003660C)
- Unmodified audit opinion with no qualifications
- No material discrepancies in physical verification of assets
- Title deeds of all immovable properties held in company's name
- No fraud reported during the year
- No default in repayment of loans to financial institutions
- Company not declared wilful defaulter
- Internal financial controls found adequate and effective
- Regular in depositing statutory dues except minor delays
- Pending disputes: Income tax of ₹9.24 lakh (AY 2017-18) and TDS of ₹8.10 lakh
Corporate Governance & Structure
- Board Composition: 7 Directors (2 Executive, 1 Non-Executive Non-Independent, 4 Independent)
- Committee Structure: Audit, CSR, Nomination & Remuneration, Stakeholders Relationship, Bank & Credit, Risk Management Committees
- Capital Structure: Authorized Share Capital ₹500.00 crore, Paid-up Capital ₹459.12 crore (4,59,11,960 equity shares)
- ESOP Scheme: 60,840 options outstanding at year-end with weighted average exercise price of ₹307.36
Risk Factors & Forward Outlook
- Identified Risks: Market Risk, Raw Material Sourcing Risk, Currency Risk (48.59% revenue from exports), Quality Risk, Technological Risk, Environmental Risk
- Market Share Target: Increase domestic market share from 14% to 30% by FY30
- Growth Strategy: Multi-location manufacturing, diversification into semiconductor crucibles and artificial marbles
- Sustainability: Second year of sustainability reporting, focus on decarbonization
Important Dates & Events
- 17th AGM: June 30, 2026 at 2:00 PM through VC/OAVM
- Book Closure: June 24, 2026 to June 30, 2026
- Cut-off Date: June 19, 2026
- Record Date for Dividend: June 19, 2027