Ravi Kumar Distilleries Ltd

Meeting Details

• Board meeting scheduled for Friday, 14 August 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve unaudited quarterly results for the quarter ended 30 June 2026.

Other Notes

• Trading window closed for designated persons from 1 July 2026 until 48 hours after results announcement.

Financial Performance 📊

• Q3 FY26 revenue from operations declined 14% YoY to Rs 1,508.16 lakhs; 9M revenue down 25% YoY to Rs 4,069.37 lakhs.
• Total income for Q3 FY26 was Rs 1,558.49 lakhs, down 22% YoY; 9M total income declined 23% YoY to Rs 4,291.15 lakhs.
• Cost of material consumed fell 64% YoY in Q3 to Rs 267.24 lakhs; 9M cost down 45% YoY to Rs 1,013.04 lakhs.
• Excise duty expense was Rs 1,024.21 lakhs in Q3, down 12% YoY; 9M excise duty stable at Rs 2,731.01 lakhs.
• EBITDA was Rs 1.92 lakhs in Q3 FY26, down 23% YoY; 9M EBITDA declined 17% YoY to Rs 8.73 lakhs.
• Profit after tax was Rs 1.92 lakhs in Q3 and Rs 8.73 lakhs in 9M FY26, down 23% and 17% YoY respectively.

Expenses & Costs

• Employee benefit expenses increased 24% YoY in 9M to Rs 142.50 lakhs; finance cost decreased to Rs 4.03 lakhs in 9M.
• Company wrote back Rs 248.08 lakhs of old sundry creditors as other income in Q3 FY26.

Risks & Contingencies ⚠️

• Auditor highlighted recoverability risks on Rs 2,900.25 lakhs disputed receivables in limited review report.
• Legal disputes over Rs 825.71 lakhs investment in Liquor India Limited; no provision made for expected credit loss.
• Sundry debtors and creditors confirmations pending; Rs 389.49 lakhs expected credit loss not recognized.
• Statutory dues of Rs 282.48 lakhs remain unpaid; no provision for interest on delayed payments.

Business Model & Segments

• Company operates in a single segment: manufacturing Indian Made Foreign Liquor (IMFL).
• Financials prepared under Indian Accounting Standards (Ind AS) and approved by Board on 6th Feb 2026.

Financial Performance 📊

• Approved standalone unaudited results for quarter and nine months ended December 31, 2025.
• Total income for nine months ended December 31, 2025: Rs. 4,291.15 lakhs; profit before tax: Rs. 8.73 lakhs.
• Profit after tax for nine months ended December 31, 2025: Rs. 8.73 lakhs; basic EPS: Rs. 0.04 per share.

Financial Position & Income Recognition

• Sundry creditors balance of Rs. 248.08 lakhs written back as other income.
• Equity share capital: Rs. 2,400 lakhs; reserves excluding revaluation reserves: Rs. 1,790.14 lakhs (previous year).

Contingencies & Litigation ⚠️

• No provision made for expected credit loss on disputed recoverable amounts of Rs. 2,900.25 lakhs and investments in Liquor India Limited.
• Company involved in ongoing litigation and appeals related to sale agreement with Lemonade Shares & Securities Private Limited.
• Statutory dues of Rs. 282.48 lakhs remain unpaid; no provision for interest on delayed payments.

Audit & Compliance

• Auditor’s review report highlighted uncertainties on recoverability of disputed debts and investments; no material misstatement found.

Business & Regulatory Updates

• Company has one reportable segment: manufacturing of Indian Made Foreign Liquor (IMFL).
• Management assessing impact of new labor law framework; financial impact unascertainable.