Rajnandini Metal Limited reported a net loss of ₹217 lakh for the financial year ended March 31, 2025, a significant decline from the net profit of ₹1,524 lakh recorded in the previous year. The company's revenue from operations decreased to ₹1,03,358 lakh in FY25 from ₹1,21,243 lakh in FY24. For the quarter ended March 31, 2025, the company posted a net profit of ₹38 lakh on revenue of ₹20,853 lakh.

The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2025, at a meeting held on May 29, 2025. The results were reviewed by the Audit Committee and the statutory auditors. Rajnandini Metal stated that it operates only one reportable primary business segment, the manufacturing and supplying of copper wires, and therefore segment disclosures are not applicable.

Statutory auditors KAPG & Associates issued a qualified opinion on the financial results. The qualification arises from a demand raised by the GST Authorities aggregating to ₹290.70 crore, including interest and penalty, alleging the claiming of ineligible input tax credit. Additionally, Income Tax Authorities raised a demand of ₹16.98 crore. The management is contesting these demands and has filed rectification and appeal applications. No provision has been made for these liabilities as the management believes they will not crystallize.

The total comprehensive income for the year stood at a loss of ₹215 lakh. Basic and Diluted Earnings Per Share (EPS) for the year were reported at a loss of ₹0.08, compared to ₹0.55 in the previous year. The company's total assets as of March 31, 2025, stood at ₹14,789 lakh, while total liabilities were ₹9,152 lakh.

The statement of cash flows showed a net decrease in cash and cash equivalents of ₹3 lakh during the year. Cash generated from operations was ₹6,482 lakh, while the company utilized ₹6,745 lakh in financing activities, primarily due to the repayment of borrowings.

Rajnandini Metal Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment of two independent directors and the appointment of a new Chairman and Managing Director. The resolutions propose a second five-year term for Mr. Sanjeev Chhaudha and Mr. Arun Sharma, alongside a three-year tenure for Mr. Ashok Kalra as the company's executive head. The outcome of these votes will determine the leadership structure and governance continuity for the company starting from late 2025 and early 2026.

The postal ballot notice, dated May 20, 2026, outlines three special resolutions requiring shareholder consent. Mr. Sanjeev Chhaudha (DIN: 08932721) is proposed for re-appointment as an Independent Director for a term of five years effective from November 06, 2025, to November 05, 2030. Similarly, Mr. Arun Sharma (DIN: 09107533) is slated for re-appointment for a second term of five years from March 16, 2026, to March 15, 2031. Additionally, the company seeks approval to appoint Mr. Ashok Kalra (DIN-09024019) as Chairman and Managing Director for a period of three years commencing February 27, 2026, to February 26, 2029.

Remuneration and Terms

The appointment of Mr. Ashok Kalra as Chairman and Managing Director includes a specific remuneration package. He is entitled to a basic salary of ₹4,00,000 per month. The company will also provide a car with a driver and telephone facilities for both official and personal purposes. The remuneration structure ensures that Mr. Kalra receives a minimum fixed salary, perquisites, and allowances even if the company incurs losses or profits are inadequate during his tenure, subject to statutory provisions.

Voting Process and Timelines

Shareholders registered on the books of the company or in the records of depositories as of the cut-off date, Friday, June 12, 2026, are eligible to participate in the remote e-voting. The company has engaged National Securities Depositories Limited (NSDL) to facilitate the electronic voting process. The remote e-voting period is scheduled to commence at 9:00 a.m. IST on Wednesday, June 17, 2026, and will conclude at 5:00 p.m. IST on Thursday, July 16, 2026.

The results of the postal ballot will be announced on Friday, July 17, 2026. Mr. Abhishek Jain of Abhishek J. & Co, Practicing Company Secretaries, has been appointed as the Scrutinizer to oversee the voting process. The notice has been sent electronically to members, and physical copies are not being dispatched for this ballot. The resolutions, if passed by the requisite majority, will be deemed to have been passed on the last day of the e-voting period.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE00KV01022/b63093a51da74e22.pdf