Regulatory Compliance Response - Rajshree Polypack Limited
Communication Details
Date of Communication: September 17, 2026
Nature of Query: Response to NSE email dated September 09, 2026 seeking clarification regarding financial results submitted on August 05, 2026. The exchange noted that "Financial results submitted is not as per format prescribed by SEBI - Standalone and Consolidated figures same."
Company's Clarification on Financial Results
Rajshree Polypack Limited provided a detailed explanation for the identical standalone and consolidated financial results for the quarter ended June 30, 2026 (Q1 FY27):
- The company has only one joint venture, Olive Ecopak Private Limited, classified under Ind AS 111 - Joint Arrangements
- The investment is accounted for using the Equity Method as per Ind AS 28 (Investments in Associates and Joint Ventures)
- In the consolidated financial statements, the joint venture investment appears as a single line item under Non-current Assets in the Balance Sheet
- The company's Share of Profit or Loss from the joint venture is recognized as a single line item in the Statement of Profit and Loss
Key Accounting Treatment Explanation
During Q3 FY25, the accumulated share of losses from the joint venture exceeded the carrying amount of the company's investment. In accordance with Ind AS 28:
- The company recognized share of losses only up to the extent of its investment in the joint venture
- No further share of losses has been recognized after the carrying amount was reduced to Nil
- This accounting treatment is disclosed in Note No. 4 of the Consolidated Un-audited Financial Results for quarter ended June 30, 2026
- Consequently, no additional share of loss was recognized in Q1 FY27, resulting in identical standalone and consolidated figures
Regulatory Compliance and Historical Context
The company emphasized:
- The accounting treatment is fully compliant with applicable Ind AS standards
- The treatment has been reviewed and confirmed by the company's Statutory Auditors
- The exchange had sought similar clarifications for identical results in Q4 FY25 and all four quarters of FY26 (Q1, Q2, Q3, and Q4)
- The identical figures are not due to inadvertence, error, or format deviation but result from proper accounting treatment under Ind AS 28