Rishi Laser Limited, a precision metal fabrication company, has announced robust financial results for the first quarter and the reappointment of its Managing Director.

Financial Performance

The company reported a significant increase in its revenue from operations for the quarter ended June 30. Revenue rose to Rs. 4,103.21 lakh, up from Rs. 3,700.57 lakh in the same quarter of the previous year, marking a 10.88% year-on-year growth.

Rishi Laser's net profit also saw a notable improvement, increasing to Rs. 176.92 lakh from Rs. 162.61 lakh in the corresponding quarter last year, representing an 8.8% growth.

The company's financial results for the quarter are summarized in the table below:

Management Reappointment

The Board of Directors has approved the re-appointment of Mr. Harshad Patel as the Managing Director of Rishi Laser Limited. The reappointment is for a period of three consecutive years, effective from April 1, 2026, to March 31, 2029, subject to shareholder approval.

Mr. Patel, a qualified Chartered and Cost Accountant with over 35 years of business experience, has been associated with the company since its incorporation. He has been serving as the Managing Director since April 2008 and is responsible for overseeing the finance and administration of Rishi Laser Ltd.

Annual General Meeting

The company has scheduled its 33rd Annual General Meeting (AGM) for September 12. The AGM will be conducted through video conferencing, in line with the ongoing trend of virtual shareholder meetings.

Conclusion

Rishi Laser Limited's strong financial performance in the first quarter, coupled with the reappointment of its experienced Managing Director, signals a positive outlook for the company. As it continues to operate in the precision metal fabrication segment, investors and stakeholders will be keenly watching the company's future performance and strategic moves.

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.