Rasi Electrodes Ltd will convene a board meeting on June 29, 2026, to approve a long-term solar power agreement with a related party, following shareholder authorization obtained earlier this year. The meeting, scheduled for 12.15 p.m., will also consider the scrutinizer report on the postal ballot process which closed on June 27, 2026, and the Chairman's declaration of the results.

The board intends to grant approval for an agreement with Kashyap Wire Products, a proprietorship entity where Mrs. Manjula Kothari, wife of the Managing Director, is the proprietrix. This contract involves providing solar power for a period of five years for the exclusive use of wiredrawing of raw materials required by the company for its manufacturing operations.

Shareholders had previously approved the company entering into this contract through the postal ballot and electronic voting process on March 31, 2026. The upcoming board meeting is specifically to approve the finalized terms of the agreement with the related entity.

Agenda Details

The primary items on the agenda for the board meeting include:

• Consideration of the Scrutiniser Report on the Postal Ballot conducted through electronic voting.
• Approval of the Chairman's Declaration regarding the Postal Ballot Results.
• Granting approval to the agreement for entering into the long-term related party contract for solar power with Kashyap Wire Products.

The meeting will also cover any other matters with the permission of the Chairman and Independent Directors.

rasi electrodes reported a 28.4% rise in net profit to ₹351.57 lakh for the financial year ended March 31, 2026, compared to ₹273.77 lakh in the previous year. Revenue from operations for the year increased to ₹8,144.18 lakh from ₹7,201.80 lakh in FY25. The board of directors, which met on May 29, 2026, approved the audited financial results and recommended a final dividend of ₹0.20 per equity share of ₹2 each, subject to shareholder approval at the ensuing 32nd Annual General Meeting.

For the quarter ended March 31, 2026, the company recorded a net profit of ₹75.57 lakh, up from ₹66.81 lakh in the corresponding quarter of the previous year. Revenue from operations for the quarter stood at ₹1,856.39 lakh, compared to ₹2,022.99 lakh in the same period last year. Total income for the quarter was ₹1,934.36 lakh. The financial results were reviewed by the Audit Committee and approved by the Board.

Financial Performance

The company's total expenses for FY26 amounted to ₹7,854.31 lakh, up from ₹6,902.51 lakh in the previous year. Profit before tax for the year improved to ₹478.44 lakh from ₹376.79 lakh in FY25. The basic earnings per share for the year increased to ₹1.15 from ₹0.86 in the previous year. The statutory auditor, M/s Poonam Ankit & Associates, issued an unmodified opinion on the audited financial statements.

Strategic Decisions

Regarding its business relating to trading in groceries, staples, and other similar branded products, the board reviewed the progress and decided not to pursue the project for scaling up. The company stated that the current business environment is considered not favourable for this venture. The turnover for this business was ₹7.31 lakh for the twelve months ended March 31, 2026. The board also reviewed and updated various policies adopted by the company under Regulation 46 of the Listing Regulations.

Assets and Liabilities

The total assets of the company as of March 31, 2026, stood at ₹4,120.74 lakh, compared to ₹3,912.84 lakh in the previous year. Total equity increased to ₹3,885.24 lakh from ₹3,526.84 lakh. The company significantly reduced its borrowings, which stood at ₹9.85 lakh as of March 31, 2026, down from ₹104.39 lakh a year ago. Cash and cash equivalents improved to ₹1,104.42 lakh from ₹515.65 lakh in the previous year.