Rappid Valves (India) Limited has secured an order worth ₹8.55 crores from Shree Refrigerators Limited for the supply of valves and related components towards the Indian Navy's Fleet Support Ship (FSS) programme. The order, disclosed on June 08, 2026, is expected to be executed over a period of approximately one year, marking a significant development in the company's defense sector engagements.

The order was awarded by Shree Refrigerators Limited, a domestic entity, and does not involve any interest from the promoter, promoter group, or group companies of Rappid Valves. The transaction has been confirmed as falling outside the scope of related party transactions, ensuring it was conducted at arm's length.

Order Details

The disclosure, made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the specific parameters of the contract. The following table summarizes the key financial and operational details of the agreement:

The company confirmed that the broad consideration for the contract stands at ₹8,55,00,000. This order reinforces Rappid Valves' participation in critical defense infrastructure projects, specifically supporting the Indian Navy's logistical capabilities through the FSS programme.

Rappid Valves (India) Limited reported a 7.3% increase in net profit to ₹648 lakh for the financial year ended March 31, 2026, compared to ₹604 lakh in the previous year. Revenue from operations grew 2.1% to ₹5,323 lakh against ₹5,213 lakh in FY25, while EBITDA rose 3.8% to ₹1,031 lakh from ₹993 lakh. The company maintained business stability amid unprecedented volatility in copper and non-ferrous metal prices, adopting a selective bidding strategy in H2 FY26 to protect margins and balance sheet strength. As of June 1, 2026, the order book stood at ₹42 crore, comprising ₹33 crore in physical purchase orders and ₹8.5 crore in Letters of Intent (LOI).

The Board of Directors approved the annual audited standalone financial results on May 27, 2026. The company’s total assets increased to ₹7,532 lakh as of March 31, 2026, up from ₹6,025 lakh in the prior year, driven by higher inventory levels and trade receivables. Short-term borrowings rose to ₹1,784 lakh from ₹841 lakh to fund working capital requirements.

Financial Performance

The company’s earnings per equity share improved to ₹12.5 for FY26, up from ₹11.6 in the previous year. Profit before tax stood at ₹866 lakh, compared to ₹824 lakh in FY25. Total expenses for the year increased to ₹4,489 lakh from ₹4,410 lakh, influenced by higher employee benefit expenses and finance costs.

Half-Yearly Performance

H1 FY26 registered healthy growth momentum, with revenue rising 47% to ₹2,882 lakh and PAT increasing 41% to ₹338 lakh. However, H2 FY26 witnessed a moderation in growth due to commodity volatility, with revenue declining 25% to ₹2,441 lakh and PAT falling 15% to ₹310 lakh. The management prioritized order book quality and profitability over aggressive topline expansion during this period.

IPO Proceeds Utilisation

Rappid Valves completed its Initial Public Offer during the financial year, issuing 13,69,800 equity shares at ₹222 per share. The proceeds, aggregating ₹3,041 lakh, were allocated towards capital expenditure, loan repayment, and general corporate purposes. As of March 31, 2026, the company had utilized ₹2,276.5 lakh of the total proceeds, leaving ₹764.5 lakh unutilized.

Pursuant to a resolution passed at the Extraordinary General Meeting on April 17, 2026, the Board approved the utilization of the unutilized IPO proceeds amounting to ₹764.51 lakh towards working capital requirements. This includes ₹364.51 lakh originally earmarked for capital expenditure and ₹400 lakh reserved for inorganic growth initiatives.