Manilal Virabhai Patel has divested his entire shareholding in RR Metalmakers India Ltd through an open market transaction on July 22, 2026. The disclosure, filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirms the sale of 6,800 equity shares.

Prior to the transaction, Patel held 6,800 shares, which accounted for 0.075% of the company's total share capital and voting rights. The shares were sold on the BSE Limited, where the target company is listed. Following the disposal, Patel's holding in RR Metalmakers India Ltd stands at nil.

The equity share capital of RR Metalmakers India Ltd remained unchanged at 90,08,824 shares of ₹10 each before and after the transaction. The total diluted share and voting capital of the company is also reported at 90,08,824 shares.

Transaction Details

RR Metalmakers India Limited reported a net loss of ₹67.21 lakh for the financial year ended March 31, 2026, compared to a net profit of ₹167.65 lakh in the previous year. Revenue from operations increased to ₹8739.41 lakh from ₹5250.82 lakh in FY25. The company attributed the loss to higher input costs and expenses during the year, alongside an exceptional income of ₹202.71 lakh from the sale of a warehouse and a factory.

The board has proposed the re-appointment of Mr. Samir Mukund Patil as an Independent Director for a second term of five years commencing July 12, 2027. The company will hold its 31st Annual General Meeting (AGM) on Friday, August 07, 2026, at 11:30 a.m. IST via video conferencing to approve the audited financial statements and consider the re-appointment of directors.

Financial Performance

The company’s total income for FY26 stood at ₹8739.41 lakh, up from ₹5250.82 lakh in the previous year. However, total expenses excluding depreciation rose to ₹8933.72 lakh from ₹5054.78 lakh. The profit before depreciation, exceptional item, and tax was a loss of ₹194.31 lakh, compared to a profit of ₹196.04 lakh in FY25.

Auditor’s Observations

M/s. M.A Chavan & Co., Chartered Accountants, the statutory auditors, issued a qualified opinion on the financial statements. The auditors noted that the company recognized revenue for export sales to Samaira International Limited amounting to ₹1,354.70 lakhs and Grandmark Global PTE Ltd. amounting to ₹275.52 lakhs. As per IND AS 115, revenue should be recognized when goods are transferred to the customer. The auditors observed that the goods had not been transferred as of the audit report date, leading to an overstatement of revenue from operations and trade receivables. The company stated that the goods have been sold and the GST invoice was generated, but shipment was delayed due to the DMG portal not monitoring movement and scarcity of ships due to the Iran-Israel war.

AGM and E-Voting Details

Shareholders can participate in the AGM through video conferencing. Remote e-voting will commence on August 04, 2026, at 9:00 a.m. IST and conclude on August 06, 2026, at 5:00 p.m. IST. The cut-off date for determining shareholder eligibility is July 31, 2026. Ms. Preeti Bhangle, Partner of M/s. VPP & Associates, has been appointed as the Scrutinizer for the e-voting process.