RTS Power Corporation Ltd

Financial highlights

• Standalone revenue from operations: 1,571.24 L for quarter ended 30 Jun 2026.
• Standalone total income: 1,887.37 L.
• Standalone PBT before tax: 265.16 L.
• Standalone PAT: 242.45 L.
• Standalone EPS: 2.64 Rs.
• Consolidated revenue from operations: 3,104.21 L.
• Consolidated total income: 3,352.59 L.
• Consolidated PBT: 225.22 L.
• Consolidated PAT: 197.86 L.
• Consolidated EPS: 2.16 Rs.
• Standalone segment revenue: Electrical Goods 1,539.78 L; Wind Energy 31.46 L.
• Standalone segment PBT: Electrical Goods 373.76 L; Wind Energy 19.76 L.
• Consolidated segment revenue: Electrical Goods 1,539.78 L; Galvanised Iron Wire & Strips 1,532.98 L; Wind Energy 31.46 L.
• Consolidated segment PBT: Electrical Goods 373.76 L; Galvanised Iron Wire & Strips -22.44 L; Wind Energy 19.76 L.
• Auditors' limited review for Q1 FY2026 is unmodified.

AGM timing and process

• AGM scheduled for Sept 21, 2026 at 12:15 PM.
• AGM to be held via VC/OAVM under MCA/SEBI circulars.
• Deemed venue: 9, Chapel Road, Hastings, Kolkata.
• Shareholder register closure from Sept 15 to Sept 21, 2026.
• Cut-off date for remote e-voting: Sept 14, 2026.

Financial results approved

• Unaudited standalone and consolidated Q1 FY2026 results approved with unmodified Limited Review.

Dividend policy and retention

• Board had not recommended dividend for FY2025-26; earnings retained for expansion.

Scrutinizer appointment and AGM disclosures

• Mr. Manoj Prasad Shaw appointed Scrutinizer for AGM voting.
• Scrutinizer to conduct voting via remote e-voting.
• Notice for 78th AGM and annual report to be submitted to stock exchanges.

Regulatory and governance notes

• AGM via VC/OAVM in compliance with MCA and SEBI circulars.
• Statutory limited review of results issued with an unmodified opinion.

Meeting Details

• Date: 14 August 2026; Time not disclosed; Location: registered office.

Key Agenda Items

• Standalone and consolidated unaudited financial results for quarter ended June 30, 2026.
• Approve the Board of Directors' Report for FY 2025-26 with annexures and draft AGM notice.
• Fix the day, date, time and mode of the 78th AGM.
• Appoint a Scrutinizer for e-voting at the 78th AGM.
• Fix book closure and e-voting schedule for the AGM.

Other Notes

Dematerialisation status

• Dematerialisation requests received from depository participants were confirmed (accepted/rejected) to the depositories.
• Securities dematerialised have been listed on the stock exchanges where earlier issued securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification, with depository's name substituted as registered owner.

Credit Rating Action

• Ratings reaffirmed by Infomerics Ratings on 9 February 2026 with Stable outlook.
• Long Term Bank Facilities rated IVR BB+/Stable (enhanced from Rs. 17.44 crore to Rs. 20.87 crore).
• Short Term Bank Facilities rated IVR A4+ (Rs. 39.10 crore).
• Total rated amount Rs. 59.97 crore.
• No change in rating levels since November 2024.

Financial Performance

• Operating income increased to Rs. 113.93 crore in FY25 from Rs. 57.46 crore in FY24.
• EBITDA rose slightly to Rs. 4.34 crore in FY25 from Rs. 4.06 crore in FY24.
• PAT marginally increased to Rs. 4.47 crore in FY25 from Rs. 4.43 crore in FY24.
• EBITDA margin declined to 3.81% in FY25 from 7.06% in FY24.
• Overall gearing improved to 0.09x in FY25 from 0.12x in FY24.

Financial Profile & Liquidity

• Comfortable capital structure with gearing at 0.09x as of FY25.
• Debt protection metrics: Interest Coverage Ratio 1.66x, DSCR 3.08x in FY25.
• Adequate liquidity with cash equivalents of Rs. 14.32 crore and moderate working capital utilization (~59%).
• Expected cash generation of Rs. 20-25 crore during FY26-28 against repayments of Rs. 5.20 crore.

Business & Industry Risks ️

• Experienced promoters with over 30 years in power equipment industry.
• Diversified product portfolio and established customer relationships.
• Operating cycle elongated at 118 days in FY25 due to high receivables and inventory.
• Industry is highly competitive, fragmented, and cyclical.
• Exposure to fixed-price contracts limits ability to pass on raw material cost increases.
• Raw material cost volatility (copper, aluminium) contributed to EBITDA margin decline.

Rating Sensitivities

• Upgrade triggers: sustained revenue and profitability improvement, better debt protection, efficient working capital management.
• Downgrade triggers: significant revenue/profitability decline, liquidity deterioration, ISCR below 1.40x, worsening capital structure.