Rexnord Electronics & Controls Limited has announced receiving provisional sanction for Industrial Promotion Subsidy (IPS) worth Rs 213.38 lakh across two periods. The company made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 on March 13, 2026.

Subsidy Breakdown

The Industrial Promotion Subsidy sanction covers two distinct periods with specific allocations:

Disbursement Conditions

The company emphasized that actual disbursement of the sanctioned subsidy amounts remains conditional. Key requirements include:

• Receipt of funds from the government
• Confirmation of terms and conditions outlined in the eligibility certificate
• Compliance with agreements executed under the subsidy scheme
• Submission of all prescribed documents

Regulatory Compliance

This disclosure follows the company's earlier communication dated February 10, 2026, indicating ongoing developments regarding the Industrial Promotion Subsidy application. The announcement was signed by Nainy Kunal Tanna, Whole-Time Director, ensuring proper corporate governance protocols.

The provisional sanction represents a significant development for Rexnord Electronics & Controls, though the company maintains that final receipt depends on government fund availability and regulatory compliance completion.

Rexnord Electronics & Controls Limited announced its unaudited financial results for the quarter ended December 31, 2025, following the board meeting held on February 10, 2026. The company reported a standalone net loss of ₹164.22 lakhs compared to a profit of ₹78.54 lakhs in the corresponding quarter of the previous year, marking a significant decline in profitability despite strong revenue growth.

Financial Performance Overview

The company's standalone financial performance for Q3FY26 showed mixed results with revenue growth offset by increased costs and exceptional items:

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Rexnord showed resilience with positive results despite Q3 challenges:

Exceptional Items Impact

The company's Q3FY26 results were significantly affected by exceptional items totaling ₹59.89 lakhs, primarily due to the one-time impact of New Labour Codes implemented by the Government of India effective November 21, 2025. This exceptional charge represents the company's estimated obligation under the consolidated labour legislation framework, including the Code on Wages 2019, Industrial Relations Code 2020, Code on Social Security 2020, and Occupational Safety, Health and Working Conditions Code 2020.

Maharashtra Government Incentive Certificate

Rexnord received significant regulatory approval with an Eligibility Certificate dated November 12, 2025, from the Directorate of Industries, Government of Maharashtra under the Maharashtra Electronics Policy 2016. The certificate details include:

The company has filed SGST refund claims totaling ₹259.34 lakhs for the past two financial years on February 3, 2026, though no income has been recognized pending verification by competent authorities.

Consolidated Results

The consolidated financial results, including subsidiary Rexnord Enterprise Private Limited, showed similar trends with a net loss of ₹165.62 lakhs for Q3FY26 compared to a profit of ₹76.44 lakhs in Q3FY25. The consolidated revenue remained identical to standalone figures at ₹2,950.39 lakhs, indicating minimal subsidiary contribution to overall operations.