Rajnandini Metal Q2 FY27 Unaudited Results: Board Approves Financials; Auditor Notes Potential Tax Liabilities
Rajnandini Metal Limited's Board approved unaudited Q2 FY27 results. Profit after tax for Q2 FY27 was ₹3 Lakhs, a turnaround from a loss last year. For H1 FY27, profit after tax was ₹36 Lakhs. The auditor noted potential tax liabilities of ₹290.70 Crores from GST and ₹10.68 Crores from Income Tax, against which the company has appealed.
The material contingent liabilities related to GST and Income Tax demands, amounting to over ₹300 Crores, could have a substantial financial impact on the company if the appeals are unsuccessful.
While the company reported improved quarterly results, the significant potential tax liabilities highlighted by the auditor introduce considerable uncertainty, balancing the positive financial performance.
Rajnandini Metal Limited announced the outcome of its Board Meeting held on November 14, 2026. The Board considered and approved the unaudited financial results for the quarter and half-year ended September 30, 2026, along with the Statement of Assets and Liabilities, Cash Flow, and the Limited Review Report from the auditor.
The unaudited standalone financial results for the quarter ended September 30, 2026, showed a profit after tax of ₹3 Lakhs, a significant improvement from a loss of ₹196 Lakhs in the same period last year. For the half-year ended September 30, 2026, the company reported a profit after tax of ₹36 Lakhs, compared to a profit of ₹3 Lakhs in the corresponding period of the previous year.
The Independent Auditor's Review Report highlighted that GST authorities have raised a demand of ₹290.70 Crores (including interest and penalty) for alleged availment of ineligible input tax credit. Additionally, Income Tax Authorities have raised a demand of ₹10.68 Crores. The management has filed appeals against these demands, maintaining that the input tax credit was legitimately availed and no provision is required in the current financial results. The auditor, however, stated that they are unable to comment on the ultimate outcome and consequential impact of these proceedings.
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Rajnandini Metal Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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