Raja Bahadur Q1 FY27: Loss narrows, PPIRP progress

What the board approved and why it matters

Raja Bahadur International Ltd said its Board of Directors approved the unaudited standalone and consolidated financial results for Q1 FY27 at a meeting held on August 13, 2026. The company also said its statutory auditors carried out a limited review of the quarterly results. Alongside the numbers, the company flagged that real estate business performance may not accrue evenly across periods, a common feature for developers where project milestones and recognition can move quarter to quarter.

The update is also linked to the company’s ongoing corporate restructuring process. Raja Bahadur International is implementing an NCLT-approved resolution plan under the Pre-Packaged Insolvency Resolution Process (PPIRP), and the quarter’s disclosure included status notes on that plan.

Q1 FY27 standalone snapshot (reported figures)

For the quarter ended June 30, 2026, the company reported a standalone net loss of ₹0.1885 crore, compared with a loss of ₹0.2430 crore in the corresponding quarter of FY26. It described this as a narrowing of the quarterly deficit by about 22.4% year-on-year. Revenue from operations was reported at ₹0.4543 crore, up from ₹0.4068 crore in Q1 FY26, a growth of 11.7%.

The company also reported standalone EPS (basic) at -₹0.18 for Q1 FY27 versus -₹0.23 a year earlier. It further highlighted a material uncertainty related to its going concern status, stating that current liabilities are 4.04 times current assets.

Q1 FY27 consolidated and “total income” figures cited

In another set of figures included in the provided text, Raja Bahadur International’s Q1 FY27 standalone total income was stated as ₹812.08 crore with a net loss of ₹224.07 crore. On a consolidated basis, total income was stated as ₹831.99 crore with a net loss of ₹232.81 crore.

Separately, the text also states: “Revenue: ₹7.55 crore as on June 2026 (Q1 FY27)” and “Net Profit: ₹-2.33 crore as on June 2026 (Q1 FY27)”. Another line item summary says: Q1 FY27 revenue ₹7.00 crore (+8.53% YoY) and net loss ₹2.00 crore vs loss ₹1.00 crore, on a consolidated basis, and adds that no dividend was declared due to the net loss.

The article text contains multiple revenue and profit/loss presentations for the same quarter. This report lists each set of figures as stated, without attempting to reconcile them.

Quarterly operating trend from the company’s table

A quarterly table (figures in ₹ crore) provided in the text shows the following for the June 2026 quarter: net sales of ₹7.55 crore, operating profit of ₹4.64 crore, profit before tax of ₹1.17 crore, and profit after tax of ₹-2.24 crore.

It also shows that other income declined to ₹0.57 crore in June 2026 from ₹0.84 crore in March 2026, while interest cost was ₹3.47 crore in June 2026 versus ₹4.05 crore in March 2026. Tax for June 2026 is shown at ₹3.41 crore.

Q1 FY27 vs Q1 FY26: the revenue-from-operations view

The company’s revenue-from-operations comparison presented in the text shows modest top-line growth and a smaller loss year-on-year.

Annual performance numbers cited for FY26

The text also includes annual operating metrics: Raja Bahadur International reported a turnover of ₹28.6513 crore in FY26, up from ₹27.7466 crore in FY25. Net profit was stated at ₹1.34 crore in FY26, reversing a loss of ₹0.9295 crore recorded in the previous year.

It also states EBIDT rose to ₹21.4503 crore, with an EBIDT margin of 74.87%.

In addition, the text mentions: “For the full year FY2026–2027, revenue reached ₹36.97 crore and profit touched at ₹1.24 crore.”

PPIRP and NCLT approval timeline

Raja Bahadur International said it initiated PPIRP under Section 54C of the Insolvency and Bankruptcy Code, 2016. The NCLT Mumbai Bench approved the resolution plan on July 10, 2026 under Section 54L read with Section 31 of the IBC.

The company said implementation of the plan, including capital restructuring and reduction, is in progress. It added that the financial impact of these measures has been recognized to the extent ascertainable as of the reporting date, with further adjustments expected as implementation advances.

Going concern note and balance sheet stress indicator

In its Q1 FY27 disclosure, the company highlighted a material uncertainty regarding its going concern status. The specific metric cited was that current liabilities are 4.04 times current assets.

This is a key disclosure for investors because it frames liquidity risk in the near term and helps explain why restructuring steps are being pursued. The company’s update ties the going concern assessment to progress under the NCLT-approved plan.

Stock price points cited in the text

The text includes multiple quoted prices around the results window. It states a “current share price” of ₹5,050, and also shows ₹5,090.00, up ₹163.75 (+3.32%). Another line mentions CMP of ₹5,027.00 on Aug 13, 2026, and there is also ₹5,030.00 cited.

These price points indicate active trading interest around the time of the financial update, though the text does not provide intraday timing or volumes.

What investors will track next

The next set of disclosures to watch will likely be further updates on implementation of the NCLT-approved resolution plan, including any quantified accounting impact as the capital restructuring and reduction proceeds. Investors may also track whether the company’s revenue recognition remains uneven, as the company itself flagged for real estate operations.

The company has already stated it did not declare any dividend for Q1 FY27 due to its net loss position. Future board updates, along with subsequent quarterly filings, will provide clearer comparability across the different revenue and income lines presented in the current text.