Rishabh Instruments Limited announced a significant change in its board composition as Rathin Banerjee, a Non-Executive Independent Director, retired from the company's Board of Directors. The retirement took effect on September 12, 2025, marking the completion of Banerjee's tenure as an Independent Director.

Board Change Details

The company disclosed this board change through regulatory filings to both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE). According to the filing:

• Rathin Banerjee's retirement is in accordance with the provisions of the Companies Act, 2013 and the SEBI Listing Regulations.
• The cessation of his duties is effective from September 12, 2025.
• Banerjee has been relieved from his responsibilities on the board as of the same date.

Regulatory Compliance

Rishabh Instruments Limited made this disclosure in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided details as required under Regulation 30(6) read with Para A (7) of Part A of Schedule III of the SEBI Listing Regulations and SEBI Circular No SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023.

Company Response

Ajinkya Joglekar, the Company Secretary and Compliance Officer of Rishabh Instruments Limited, signed off on the regulatory filing, ensuring transparency and adherence to corporate governance norms.

Board Committee Reconstitution

Following Banerjee's retirement, Rishabh Instruments has reconstituted its Board committees. The new structure of the committees is as follows:

These committees comprise various independent directors, the executive chairman, and whole-time directors in different capacities.

This board change and committee reconstitution come as part of the natural cycle of corporate governance, where independent directors serve for specified tenures to maintain objectivity and fresh perspectives in company oversight.

Rishabh Instruments Limited, a leading provider of global energy efficiency solutions, has announced its financial results for the first quarter of fiscal year 2026, along with an update on the utilization of funds raised through its public issue.

Q1 FY26 Financial Highlights

Rishabh Instruments has reported a robust performance for the quarter ended June 30, 2025:

• Consolidated revenue grew by 12.40% year-on-year to ₹1,903.00 million
• Gross profit increased by 27.90% to ₹1,214.00 million, with gross margin expanding to 63.80%
• EBITDA surged by 275.90% to ₹284.00 million, with EBITDA margin improving to 14.90%
• Profit after tax (PAT) rose significantly by 510.20% to ₹196.00 million

Segment-wise Performance

The company's two main business segments showed strong growth:

Electrical and Electronic Instruments (EEI)

• Revenue increased by 13.80% to ₹1,149.00 million
• EBITDA grew by 70.60% to ₹207.00 million, with margins expanding to 18.00%

High Pressure Die Casting (HPDC)

• Revenue rose by 10.30% to ₹754.00 million
• EBITDA turned positive at ₹77.00 million, compared to a loss in the previous year

Management Commentary

Mr. Dineshkumar Musalekar, Whole Time Director of Rishabh Instruments, commented on the results: "Our consolidated revenues for Q1FY26 saw a healthy growth of 12.40% year-on-year to ₹1,903.00 million, reflecting sustained demand across regions and product lines. The Electrical and Electronic Instruments business sustained its momentum with 13.80% growth, while the High-Pressure Die Casting business achieved a remarkable turnaround with 10.30% revenue growth and robust double-digit EBITDA margins."

Fund Utilization Update

Rishabh Instruments also provided an update on the utilization of funds raised through its public issue:

• Total funds raised: ₹75.00 crores on September 11, 2023

• Original allocation:

  • ₹62.18 crores for Expansion of Nashik Manufacturing Facility I
  • ₹7.92 crores for General Corporate Purpose

• Modified allocation (approved by shareholders on September 13, 2024):

  • ₹32.18 crores for Expansion of Nashik Manufacturing Facility I
  • ₹30.00 crores for new Expansion of Nashik Manufacturing Facility II
  • ₹7.92 crores for General Corporate Purpose

As of June 30, 2025, the company has utilized:

• ₹12.47 crores for Facility I expansion
• ₹11.40 crores for Facility II expansion
• ₹7.72 crores for general corporate purposes

The company reported no deviation in fund utilization for the quarter ended June 30, 2025, and the overall fund allocation was modified with proper shareholder approval.

Future Outlook

Rishabh Instruments is executing a five-year innovation roadmap for its EEI business, which aims to introduce a new portfolio expected to contribute up to 50% of current segment turnover. The company is also capitalizing on opportunities in the solar inverter market, with plans to make it a ₹1,000.00 million business in the next 3-4 years.

With its strong financial performance, strategic expansions, and focus on innovation, Rishabh Instruments appears well-positioned for continued growth in the energy efficiency solutions market.