Rare Earth Engineers Q2 Net Loss ₹30.09 Lakh Standalone

Standalone Financial Performance (Q2 Sept 2026)

Total Income: ₹0.90 lakh (consisting entirely of Other Income)
Total Expenses: ₹30.99 lakh
Employee benefits expense: ₹11.47 lakh
Other expenses: ₹19.53 lakh
Loss before tax: ₹(30.09) lakh
Net Loss after tax: ₹(30.09) lakh
Basic EPS: ₹(0.19)
Diluted EPS: ₹(0.19)
Paid-up equity share capital: ₹1,602.06 lakh (Face Value of ₹10 each)

Standalone Financial Performance (Half-Year Sept 2026)

Total Income: ₹4.24 lakh
Total Expenses: ₹66.39 lakh
Loss before tax: ₹(62.15) lakh
Net Loss after tax: ₹(62.15) lakh
Basic EPS: ₹(0.39)
Diluted EPS: ₹(0.39)

Consolidated Financial Performance (Q2 Sept 2026)

Revenue from Operations: ₹1,510.22 lakh
Other Income: ₹0.90 lakh
Total Income: ₹1,511.12 lakh
Total Expenses: ₹1,419.70 lakh
Cost of materials consumed: ₹1,244.51 lakh
Employee benefits expense: ₹89.44 lakh
Finance costs: ₹33.80 lakh
Depreciation and amortization: ₹8.98 lakh
Other expenses: ₹44.82 lakh
Profit before tax: ₹91.42 lakh
Tax Expense: ₹23.22 lakh
Current tax: ₹14.94 lakh
Taxes paid for previous year: ₹8.28 lakh
Net Profit after tax: ₹68.21 lakh
Basic EPS: ₹1.13
Diluted EPS: ₹0.74

Consolidated Financial Performance (Half-Year Sept 2026)

Revenue from Operations: ₹1,510.22 lakh
Other Income: ₹4.24 lakh
Total Income: ₹1,514.46 lakh
Total Expenses: ₹1,455.10 lakh
Profit before tax: ₹59.36 lakh
Tax Expense: ₹23.22 lakh
Net Profit after tax: ₹36.14 lakh
Basic EPS: ₹0.60
Diluted EPS: ₹0.39

Significant Corporate Developments

The company completed the acquisition of M/s. JMR Clean Energy Private Limited, which became a subsidiary with Midland holding a 70% stake, effective 29.07.2026
As consideration, Midland allotted 73,78,350 equity shares under a Share Purchase and Share Subscription Agreement against the acquisition of 7,00,000 equity shares of JMR Clean Energy Private Limited
During the quarter, the company allotted 91,00,000 convertible warrants at ₹10 each for cash consideration, of which 25% of the total consideration was received as at 30 September 2026

Balance Sheet Highlights (Standalone as at 30.09.2026)

Total Assets: ₹1,661.82 lakh
Non-Current Assets: ₹1,609.84 lakh
Property, Plant and Equipment: ₹737.84 lakh
Capital Work in Progress: ₹872.00 lakh
Current Assets: ₹51.98 lakh
Cash and cash equivalents: ₹3.83 lakh
Loans & Advances: ₹3.91 lakh
Other financial assets: ₹44.24 lakh
Total Equity: ₹1,488.77 lakh
Equity share capital: ₹1,602.07 lakh
Other equity: ₹(340.80) lakh
Money received against share warrants: ₹227.50 lakh
Current Liabilities: ₹173.05 lakh
Borrowings: ₹158.57 lakh
Other financial liabilities: ₹14.48 lakh

Cash Flow Highlights (Standalone Half-Year Sept 2026)

Net cash flow from operating activities: ₹(60.42) lakh
Net cash flow from investing activities: ₹(1,605.59) lakh
Investments made in Subsidiary: ₹(737.84) lakh
Increase/Decrease in Financial Assets: ₹(872.00) lakh
Interest received: ₹4.24 lakh
Net cash flow from financing activities: ₹1,668.69 lakh
Increase in Equity share capital: ₹1,535.19 lakh
Issue of Warrants: ₹227.50 lakh
Unsecured Loan availed: ₹(94.00) lakh
Net increase in cash and cash equivalents: ₹2.68 lakh

Auditor's Review

Pundarikashyam and Associates, Chartered Accountants, reviewed both standalone and consolidated financial results and stated that nothing has come to their attention that causes them to believe that the statements contain any material misstatement. The review was conducted in accordance with Standard on Review Engagements (SRE) 2410.

Important Notes

The financial statements have been prepared on a going concern basis based upon Comfort letter given by the promoters of the Company
The Earnings Per Share (EPS) for the quarter ended 30 September 2026 is not strictly comparable with previous periods due to increased weighted average number of equity shares from preferential allotment of 15,351,868 equity shares
The company doesn't have more than one segment
Figures of previous periods have been regrouped and reclassified where necessary