Rishi Laser Limited, a precision metal fabrication company, has announced robust financial results for the second quarter, along with key corporate decisions. The company's board meeting on August 8 revealed significant developments that signal positive momentum for the organization.

Financial Performance

Rishi Laser demonstrated strong financial growth in Q2:

The company's revenue from operations saw a notable increase of 10.88% year-over-year, rising from Rs 3,700.57 lakhs in the previous Q2 to Rs 4,103.21 lakhs in the current Q2. Net profit also improved, growing by 8.80% from Rs 162.61 lakhs to Rs 176.92 lakhs during the same period.

Annual General Meeting

The board has scheduled the 33rd Annual General Meeting (AGM) for September 12. The meeting will be conducted virtually through video conferencing (VC) or other audio-visual means (OAVM). In preparation for the AGM, the company will close its Register of Members and Share Transfer Books from September 6 to September 12 (both days inclusive).

Managing Director Reappointment

In a significant move, the board has approved the reappointment of Mr. Harshad Patel as Managing Director for an additional three-year term, from April 1, 2026, to March 31, 2029. This decision is subject to shareholder approval at the upcoming AGM.

Mr. Patel, 68, is a qualified Chartered and Cost Accountant with over 35 years of business experience. He has been associated with Rishi Laser since its inception and has served as Managing Director since April 2008. His continued leadership is expected to provide stability and strategic direction to the company.

Corporate Governance

The company has appointed M/s. Sudhanwa S Kalamkar & Associates, a practicing company secretary firm, as the scrutinizer for the e-voting process at the upcoming AGM. This appointment underscores Rishi Laser's commitment to maintaining transparency and adhering to corporate governance best practices.

Outlook

With a strong financial performance in Q2 and strategic decisions regarding leadership and corporate events, Rishi Laser Limited appears well-positioned for continued growth. The company's focus on precision metal fabrication, coupled with experienced management, may contribute to its future success in the manufacturing sector.

Investors and stakeholders will likely look forward to the upcoming AGM for further insights into the company's strategies and future outlook.

Rishi Laser Limited , a precision metal fabrication company, has announced its financial results for the quarter ended June 30, showing growth in both revenue and profit. The company's Board of Directors has also approved the re-appointment of Mr. Harshad Patel as Managing Director for an additional three-year term.

Financial Performance

Rishi Laser reported a robust financial performance for Q2:

All financial figures in Rs. lakh, except EPS in Rs.

The company's revenue from operations increased by 10.88% year-over-year, rising from Rs. 3,700.57 lakh in the previous year's Q2 to Rs. 4,103.21 lakh in the current Q2. The total income, including other income, grew by 11.71% to Rs. 4,142.89 lakh.

Profit for the quarter stood at Rs. 176.92 lakh, up 8.80% from Rs. 162.61 lakh in the same quarter last year. The basic earnings per share (EPS) improved to Rs. 1.92, compared to Rs. 1.77 in the previous year's Q2.

Management Re-appointment

In a significant development, the Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has approved the re-appointment of Mr. Harshad Patel as Managing Director. The new term is set for three years, from April 1, 2026, to March 31, 2029, subject to shareholder approval at the upcoming Annual General Meeting.

Mr. Patel, a qualified Chartered and Cost Accountant with over 35 years of business experience, has been with Rishi Laser since its incorporation. He has served as the company's Managing Director since April 2008 and oversees finance and administration.

Annual General Meeting

The company has scheduled its 33rd Annual General Meeting for September 12, to be held virtually through video conferencing or other audio-visual means. The Register of Members and Share Transfer Books will remain closed from September 6 to September 12 (both days inclusive) for the purpose of the AGM.

Other Board Decisions

The Board has also appointed M/s. Sudhanwa S Kalamkar & Associates, a practicing Company Secretary firm, as the scrutinizer for the e-voting facility to be provided to shareholders for the upcoming AGM.

Rishi Laser continues to focus on its core business of precision metal fabrication, with these financial results and management decisions reflecting the company's commitment to growth and stability in the manufacturing sector.