Richa Industries Limited Reports Q2FY26 Financial Results Under Liquidation Process
Richa Industries Limited (Under Liquidation) reported Q2FY26 results showing revenue of ₹1,518.18 lakhs and profit of ₹207.50 lakhs for the quarter ended September 30, 2025. The company achieved a turnaround from the previous quarter's loss of ₹584.17 lakhs. Total assets stood at ₹16,166.36 lakhs. The liquidator successfully sold the company as a going concern for ₹96 crores through auction on October 16, 2025, following the liquidation order dated June 11, 2025.
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Richa Industries Limited (Under Liquidation) has released its unaudited financial results for the quarter ended September 30, 2025, marking a significant development in the company's liquidation process. The results were approved by the liquidator and submitted to regulatory authorities with detailed explanations regarding compliance challenges during the liquidation proceedings.
Financial Performance Overview
The company demonstrated improved quarterly performance despite being under liquidation. Revenue from operations reached ₹1,518.18 lakhs for Q2FY26, representing a substantial increase from ₹936.55 lakhs in the previous quarter. The company achieved a profit of ₹207.50 lakhs for the quarter, a remarkable turnaround from the loss of ₹584.17 lakhs recorded in Q1FY26.
| Metric | Q2FY26 | Q1FY26 | Change |
|---|---|---|---|
| Revenue from Operations | ₹1,518.18 lakhs | ₹936.55 lakhs | +62.1% |
| Total Income | ₹1,523.43 lakhs | ₹936.61 lakhs | +62.6% |
| Total Expenses | ₹1,315.92 lakhs | ₹1,520.78 lakhs | -13.5% |
| Profit/(Loss) | ₹207.50 lakhs | (₹584.17 lakhs) | Positive turnaround |
Balance Sheet Position
As of September 30, 2025, the company's total assets stood at ₹16,166.36 lakhs, compared to ₹16,242.90 lakhs as of March 31, 2025. The asset composition includes non-current assets of ₹8,411.40 lakhs and current assets of ₹7,754.96 lakhs. Current assets primarily consist of investments worth ₹4,933.06 lakhs and bank balances of ₹2,288.42 lakhs.
| Asset Category | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| Non-current Assets | ₹8,411.40 lakhs | ₹8,622.04 lakhs |
| Current Assets | ₹7,754.96 lakhs | ₹7,620.86 lakhs |
| Total Assets | ₹16,166.36 lakhs | ₹16,242.90 lakhs |
Liquidation Process and Asset Sale
The company entered liquidation proceedings following an order from the National Company Law Tribunal, Chandigarh Bench, dated June 11, 2025. Mr. Mohit Chawla was appointed as the liquidator, taking over from the previous resolution professional. In a significant development, the liquidator successfully sold the company as a going concern through an auction conducted on October 16, 2025, achieving a sale value of ₹96 crores.
| Liquidation Details | Information |
|---|---|
| Liquidation Order Date | June 11, 2025 |
| Liquidator | Mr. Mohit Chawla |
| Auction Date | October 16, 2025 |
| Sale Value | ₹96 crores |
| Sale Type | Going Concern |
Compliance and Regulatory Matters
The company acknowledged several compliance challenges during the liquidation process. The liquidator explained that prior intimation of two days could not be provided for the quarterly results approval due to the absence of a Board of Directors and pending compliance matters. The company is coordinating with various statutory authorities to address pending compliances and has requested regulatory support to expedite the resolution of outstanding matters.
The financial results were reviewed by Chandra Gupta & Associates, Chartered Accountants, who issued a limited review report confirming that the statements comply with applicable accounting standards and SEBI regulations. The liquidator emphasized ongoing efforts to complete all statutory requirements within stipulated timelines while managing the complexities of the liquidation process.
How will the ₹96 crore sale proceeds be distributed among creditors and stakeholders in the liquidation process?
What factors enabled the company to achieve profitability despite being under liquidation, and can this performance be sustained under new ownership?
Will the successful going concern sale model influence how other companies in liquidation proceedings approach asset disposal strategies?
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