Rajnandini Metal Limited Announces Board Meeting Outcomes and Q2 Financial Results

Rajnandini Metal Limited Announces Board Meeting Outcomes and Q2 Financial Results​

Rajnandini Metal Limited announced several key decisions following its Board meeting held on August 13, 2026. The company approved the unaudited financial results for the quarter ended June 30, 2026, alongside a Limited Review Report from the statutory auditors. The board also finalized appointments for various audit functions and reviewed governance matters.

Financial Highlights for Q2 FY26​

The Unaudited Standalone Financial Results for the quarter ended June 30, 2026, show profitability across several key metrics. The company reported Total Income of ₹5,261 Lakhs for the period. Total Expenses were recorded at ₹87 Lakhs, resulting in a Profit before tax (after accounting for an exceptional item) of ₹13 Lakhs.

Audit Appointments and Governance Updates​

During the board meeting, several critical operational and governance appointments were made:

• Audit Appointments: M/s. VVSG and Associates, Chartered Accountants, was approved as the Internal Auditor for the Financial Year 2026-27. Additionally, M/s. Vandana Bansal & Associates, Cost Accountants (Finn Registration No.: 100203), was appointed as the Cost Auditor for FY 2026-27. The remuneration of the Cost Auditors remains subject to approval at the ensuing Annual General Meeting.
• Director Appointment: Mr. Pradeep Kumar Velma has been inducted as a member of the Nomination and Remuneration Committee, effective from August 13, 2026.
• Committee Restructuring: The Stakeholder Relationship Committee was reconstituted with Mr. Arum Sharma (Non-Executive Independent Director) designated as Chairman.

The company is scheduled to hold its 16th Annual General Meeting of the Members on Monday, September 28, 2026, at 1:30 p.m., which will be conducted via Video Conference or other Audio-Visual Means (OAVM). The board also approved the Directors report and took note of the Secretarial Audit Report for the financial year ended March 31, 2026.

Auditor’s Review Reveals Litigation Risk​

The review of the Unaudited Standalone Financial Results by Krishna & Associates noted a qualified opinion due to ongoing regulatory matters concerning tax demands.

A key finding from the review is that GST Authorities raised a demand aggregating ₹290.70 crores, including interest and penalty, relating to ineligible input tax credit following a search conducted during the financial year ended March 31, 2026. The management has appealed this entire demand with the appropriate appellate authority.

Furthermore, Income Tax Authorities had also raised a demand of ₹10.58 crores during the financial year ended March 31, 2026, against which the company is seeking legal recourse by filing an appeal for deletion of the full amount. The management stated that no provision was required in the accompanying financial results as the liability has not crystallized.

The review report concluded that, except for the effects of these matters detailed in the Basis for Qualified Opinion, nothing came to the attention of the auditors that caused them to believe the statements contained any material misstatements.

RAJMET Stock Price Movement​

Rajnandini Metal Limited shares slipped by 0.30% today, settling at ₹3.28 following trading activity. The security recorded a volume of 149,879 shares during the market session.