Rasandik Engineering Industries India Limited

Financial Performance Highlights

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from operations: ₹2,060.96 lakh
  • Other income: ₹8.15 lakh
  • Total income: ₹2,069.11 lakh
  • Total expenses: ₹2,171.67 lakh
  • Loss before tax: ₹(102.56) lakh
  • Deferred tax: ₹(26.04) lakh
  • Net loss: ₹(76.52) lakh
  • Basic and diluted EPS: ₹(1.28)

Half Year Ended September 30, 2026 (H1 FY27):

  • Revenue from operations: ₹3,821.03 lakh
  • Other income: ₹13.10 lakh
  • Total income: ₹3,834.13 lakh
  • Total expenses: ₹4,031.32 lakh
  • Loss before tax: ₹(197.19) lakh
  • Deferred tax: ₹(49.19) lakh
  • Net loss: ₹(148.00) lakh
  • Basic and diluted EPS: ₹(2.48)

Comparative Performance

Quarterly Comparison (Q2 FY27 vs Q2 FY26):

  • Revenue increased 63.2% from ₹1,262.77 lakh to ₹2,060.96 lakh
  • Net loss improved from ₹(213.46) lakh to ₹(76.52) lakh
  • EPS improved from ₹(3.57) to ₹(1.28)

Half-Year Comparison (H1 FY27 vs H1 FY26):

  • Revenue increased 44.2% from ₹2,649.88 lakh to ₹3,821.03 lakh
  • Net loss improved from ₹(325.77) lakh to ₹(148.00) lakh
  • EPS improved from ₹(5.45) to ₹(2.48)

Balance Sheet Position (as at September 30, 2026)

  • Total assets: ₹14,874.66 lakh
  • Equity share capital: ₹597.50 lakh (unchanged)
  • Other equity: ₹8,261.90 lakh (decreased from ₹8,342.04 lakh as at March 31, 2026)
  • Non-current liabilities: ₹2,358.94 lakh
  • Current liabilities: ₹3,656.32 lakh
  • Current assets: ₹2,457.18 lakh
  • Net current liabilities: ₹1,199.14 lakh (improved from ₹1,567.95 lakh as at March 31, 2026)

Cash Flow Analysis (Half Year Ended September 30, 2026)

  • Net cash from operating activities: ₹20.82 lakh
  • Net cash used in investing activities: ₹(13.54) lakh
  • Net cash from financing activities: ₹5.22 lakh
  • Net increase in cash: ₹0.09 lakh
  • Closing cash balance: ₹4.33 lakh

Critical Notes and Contingencies

Going Concern Basis:

The financial results are prepared on a going concern basis despite net current liabilities of ₹1,199.14 lakh. Management believes operations will generate sufficient cash flow to meet short-term obligations through cost rationalization, extended credit terms, asset monetization, and financial support from promoter shareholders.

Asset Monetization:

Company received entire consideration of ₹400.00 lakh for plant and equipment classified as "non-current assets held for sale" with carrying value of ₹110.59 lakh. Transaction completion pending procedural formalities.

Capital Work in Progress:

Includes plant & equipment valued at ₹320.00 lakh (net of impairment) purchased for Singur Project, West Bengal. Installation could not proceed as land acquisition was declared null and void by Supreme Court of India.

EPCG License Contingency:

Company imported plant & equipment under EPCG license scheme but failed to meet export obligations. Custom duty of ₹337.46 lakh already provided in books. Company has filed appeal with CESTAT to pay ₹304.98 lakh (net of pre-deposit of ₹32.48 lakh) without interest.

Potential contingent liability estimated at ₹759.29 lakh (previous year: ₹746.63 lakh) for interest, redemption fine, and penalty if CESTAT decision is adverse. This amount has not been provided in the books.

Business Segment

Single business segment: manufacturing automotive components as per Ind AS 108.

Subsidiaries and Associates

No subsidiaries, associates, or joint ventures as at September 30, 2026.