Rajeswari Infrastructure Q3 FY25 filing: key numbers

Filing under SEBI listing rules

Rajeswari Infrastructure Limited informed exchanges that it has submitted its unaudited financial results under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing covers both standalone and consolidated results for the quarter and nine months ended December 31, 2024, which fall in FY 2024-25. The company referenced earlier letters dated February 06, 2025 and February 13, 2025 in the same matter. It also attached limited review reports issued by the statutory auditors. The results were stated to be filed pursuant to Regulation 33 and Regulation 52 of the Listing Regulations.

Board approval and accounting framework

The company said the statement was approved by the holding company’s Board of Directors in a meeting held on February 14, 2025. It added that the interim financial results were prepared in line with Ind AS 34 (Interim Financial Reporting). The document also referred to Section 133 of the Companies Act, 2013 and relevant rules notified under it. The filing stated that the preparation follows generally accepted accounting principles in India and remains compliant with Regulation 33 of the Listing Regulations.

Subsidiaries included, but not reviewed by their auditors

A key disclosure in the limited review note was that the unaudited consolidated financial results include financial information of five subsidiaries. The filing stated these subsidiaries’ financial information had not been reviewed by their auditors. Within that same disclosure, the company reported revenue of ₹64.24 crore and ₹183.15 crore for these subsidiaries’ financial information, as presented in the document. It also mentioned net profit or loss after tax and total comprehensive income or loss for the subsidiaries, but the figures were not fully visible in the provided text. One number that was visible in that section was ₹54.06 crore, shown in the context of net profit or loss after tax.

Stock and valuation snapshot cited in the material

The provided material included a market snapshot showing a BSE price of ₹5.55 “as on 24 Sep 2025 at 13:15.” It also showed a market capitalisation figure of about ₹3 crore in one place. Another table in the same material cited market cap at ₹2.85 crore, along with ratios such as ROE 30.99%, P/E (TTM) -13.21, EPS (TTM) -0.39, P/B 0.00, and dividend yield 0.00%. Since these values were presented as a snapshot, they should be read as point-in-time indicators and not as audited financial statement measures.

What the historical revenue table shows

The content also carried a small financial history table with revenue and net profit (all values stated to be in crores). It showed revenue of ₹2.00 crore in FY 2021-22, ₹4.00 crore in FY 2020-21, and ₹5.00 crore in FY 2019-20. The table also displayed revenue growth percentages and net profit values, including a net profit of ₹1.00 crore in FY 2020-21 and FY 2019-20, and a “-0” value for FY 2021-22 as presented. The same table listed profit growth rates, but the underlying basis and rounding were not explained in the provided text.

Company profile and capital structure noted

The material described Rajeswari Infrastructure Limited as a public limited company incorporated on April 19, 1993 in Tambaram, Tamil Nadu. It also described the company as “under CIRP.” The snapshot listed authorised capital of ₹15.00 crore and paid-up capital of ₹5.53 crore. It mentioned that, as of June 24, 2025, the company was led by five directors. It also included a sector and industry tag: Real Estate, and Construction - Real Estate.

Board’s report and audit coverage referenced

The text included portions of a Board’s report stating that directors submitted a report on business and operations along with audited financial statements for the financial year ended March 31, 2022. The financial statements were stated to be prepared in accordance with Indian Accounting Standards notified under Section 133 of the Act. It named N. Sankaran & Co, Chartered Accountants, Chennai, as the auditor that submitted the audit report. The Board’s report text said the observations of auditors were “self-explanatory,” while also referencing specific points (VII and VIII) in an annexure to the independent auditors’ report.

What the secretarial audit section states

The secretarial audit section said the secretarial audit report confirms the company complied with the provisions of the Act, rules, regulations and guidelines, and that there were no deviations or non-compliances. At the same time, it also stated the secretarial audit report contains qualifications, reservations, adverse remarks, or disclaimers, and that the report was provided as Annexure-A. The management said it was taking necessary steps to correct the issues raised in the secretarial audit report.

Auditor’s opinion, internal controls, and other reporting points

The auditor’s report excerpt stated an opinion that the Ind AS financial statements give a true and fair view and comply with Ind AS prescribed under Section 133 of the Act. It described the audit as conducted in line with Standards on Auditing issued by ICAI under Section 143(10) of the Act, and confirmed auditor independence under the ICAI Code of Ethics. The report also stated there were no pending litigations that would impact the company’s financial position, and no long-term contracts including derivative contracts with material foreseeable losses. It further stated no material fraud by the company or on the company by its officers or employees was noticed or reported during the audit.

Key facts table from the disclosed material

Why this disclosure matters for investors

For investors tracking small and thinly traded companies, the filing is relevant because it updates the market on interim performance and the status of review procedures. The note on five subsidiaries being included without review by their auditors is a material process disclosure, even when the consolidated numbers are unaudited. The presence of both standalone and consolidated statements indicates how the company is positioning its reporting to meet Listing Regulations requirements. Separately, the audit excerpts and annexures referenced in the material provide context on compliance reporting, internal controls, and statutory audit scope for the year ended March 31, 2022.

What to watch next

The document positions the February 14, 2025 board meeting as the key governance point for the interim results. Investors typically watch for any further clarifications on subsidiary review status and the full set of consolidated profitability and comprehensive income figures, where the provided text appears incomplete. The company’s compliance updates, including the certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 dated 10/03/2025, are also part of ongoing exchange filings that market participants monitor for continuity in reporting.