Rajasthan Tube Manufacturing Company Limited has postponed its Board of Directors meeting originally scheduled for October 14, 2026. The meeting was intended to consider and adopt the Standalone Unaudited Financial Results for the half year ended September 30, 2026.

The company cited unavoidable circumstances as the reason for the postponement. This intimation follows an earlier notice dated September 30, 2026, regarding the scheduled board meeting.

Rescheduling Details

The company stated that the rescheduled date and time of the Board Meeting will be communicated to the Stock Exchange in due course. The filing was submitted to the Bombay Stock Exchange Limited on October 14, 2026.

The decision impacts the timeline for the release of the company's financial performance for the second quarter of fiscal year 2027.

Rajasthan Tube Manufacturing Company Limited reported a 153.8% increase in net profit for FY26, reaching ₹123.69 lakh compared to ₹48.73 lakh in the previous year. The surge in bottom line occurred despite a significant contraction in top-line revenue, driven by aggressive inventory liquidation and debt reduction.

The company’s revenue from operations plummeted to ₹1,700.64 lakh in FY26 from ₹5,634.08 lakh in FY25, marking a decline of approximately 69.8%. This sharp drop reflects a strategic shift or operational pause, as evidenced by the complete depletion of inventory of traded goods, which stood at zero as on March 31, 2026, down from ₹874.97 lakh a year earlier.

Financial Performance Snapshot

The following table outlines the key financial metrics for the year ended March 31, 2026:

Balance Sheet Transformation

The company’s balance sheet underwent a dramatic restructuring during FY26. Short-term borrowings were reduced to zero from ₹648.52 lakh in FY25, while long-term borrowings also dropped to nil from ₹41.18 lakh. Consequently, the debt-equity ratio improved significantly, moving from 0.79 in FY25 to effectively zero in FY26.

Cash and cash equivalents rose to ₹32.76 lakh from ₹35.34 lakh, while bank balances other than cash equivalents increased to ₹6.67 lakh. The current ratio strengthened substantially to 5.89 from 1.56 in the previous year, indicating enhanced liquidity and solvency positions.

What the Numbers Show

A critical observation is the divergence between the collapse in revenue and the expansion in profitability. While revenue fell by nearly 70%, the net profit more than doubled. This was largely facilitated by the release of working capital; the change in inventory of traded goods contributed ₹874.97 lakh to operating cash flows, compared to ₹693.42 lakh in the prior year. Furthermore, finance costs dropped sharply to ₹18.12 lakh from ₹125.81 lakh, reflecting the successful repayment of substantial short-term debts. The reduction in employee benefits expenses to ₹15.35 lakh from ₹71.90 lakh also contributed to margin preservation despite lower sales volumes.

Audit Qualifications and Disputed Dues

The statutory auditors, Bakliwal & Co., issued a qualified opinion regarding disputed statutory dues. The Statement on Impact of Audit Qualifications highlights pending disputes related to VAT and GST demands totaling approximately ₹15.26 crore (aggregated from table values). Specifically, CGST demands and penalties amount to ₹14.54 crore, with an additional ₹7.50 lakh under the RVAT Act. The Board stated that these matters are subject to appellate proceedings and do not consider them finally determined liabilities.