Rajeswari Infrastructure: FY22 income Rs 2.06 cr

What the latest numbers show

Rajeswari Infrastructure Ltd (BSE: 526823) has reported very low activity in its latest published quarterly financials, with income at or near zero in multiple quarters and continued losses. The company is classified under Construction and Contracting, and its quarterly disclosure set includes income, expenses, operating metrics and profit after tax (PAT).

In the quarter ended March 2024, the company reported total income of Rs 0.00 crore and a reported PAT of Rs -0.08 crore. Depreciation was Rs 0.03 crore in the same quarter, contributing to negative EBIT of Rs -0.05 crore. The data points to a cost base that persists even when revenue is minimal.

A separate revenue prompt in the provided data states the company “reported a revenue earned of Rs 0.” This aligns with the latest quarterly trend where revenue has been reported as Rs 0.00 crore in several periods.

Quarterly income and profitability trend (Mar’23 to Mar’24)

The quarterly table provided shows income at Rs 0.63 crore in March 2023, falling to Rs 0.06 crore in June 2023 and then to Rs 0.00 crore for September 2023, December 2023 and March 2024. Over the same period, net profit remained negative, ranging between Rs -0.03 crore and Rs -0.21 crore.

EBIT remained negative across the quarters shown, at Rs -0.18 crore in March 2023, improving to Rs -0.08 crore in June 2023, and around Rs -0.03 crore in September and December 2023, before widening again to Rs -0.05 crore in March 2024. Operating profit was also negative in March 2023 and March 2024.

Breakdown of March 2024 quarterly line items

For March 2024, net sales turnover was reported at Rs 0.00 crore and other income at Rs 0.00 crore. Total expenses were Rs 0.02 crore, resulting in operating profit of Rs -0.02 crore. Depreciation of Rs 0.03 crore pushed EBIT to Rs -0.05 crore.

The company reported taxes of Rs 0.03 crore in March 2024, and “Profit and Loss for the Year” (reported PAT) of Rs -0.08 crore. The disclosure also shows equity capital at Rs 5.53 crore and reserves and surplus at Rs 0.00 crore for the quarters presented.

FY22 annual report highlights: income and profit

The Board’s Report for the financial year ended March 31, 2022 includes a financial highlights table stated in lakhs. Converting these to a single base unit (Rs crore), income from operations was Rs 2.0630 crore in FY22 versus Rs 3.9627 crore in FY21. Other income was Rs 0.2556 crore in FY22 versus Rs 0.2377 crore in FY21.

The same report states: “The turnover of the Company during the year is 206.30 lakhs” which equals Rs 2.0630 crore, and that the company “has made a profit of Rs. 8.75 lakhs” which equals Rs 0.0875 crore. It also states the company “has not undertaken any new real estate activity during the year.”

Dividend: what was declared and what was not

The provided data notes a historical dividend of Rs 1.00 declared on 11 Sep, 2013. In contrast, the Board’s Report for FY22 explicitly states that no dividend is recommended for the financial year ended March 31, 2022.

This contrast is important for investors tracking distribution history, because the FY22 disclosure positions dividend policy as conservative for that year.

Audit and compliance disclosures in the annual report

The annual report text indicates that the financial statements were prepared under Ind AS notified under Section 133 of the Companies Act, 2013. The statutory auditor named in the report is M/s N. Sankaran & Co, Chartered Accountants, Chennai, which submitted its audit report.

The audit report includes standard sections on management responsibility, auditor responsibility and basis of opinion. It also states that the company did not have any pending litigations that would impact its financial position, and that it did not have long-term contracts including derivative contracts with material foreseeable losses, as per the text provided.

However, the annexure to the independent auditor’s report includes a note that undisputed statutory dues “have not been regularly deposited” during the year with the appropriate authorities, as per the provided excerpt.

Secretarial audit: compliance and noted remarks

The Secretarial Audit Report section in the provided text states that the company has complied with provisions of the Act, rules, regulations and guidelines, and mentions “no deviations or non-compliances.” At the same time, it also states that the Secretarial Audit Report “contains qualifications, reservations or adverse remarks or disclaimers,” and that management is taking steps to correct them.

Given the mixed phrasing in the provided text, readers should treat this as a disclosure that the secretarial audit annexure includes remarks, with management acknowledging corrective steps.

Corporate updates and shareholder meeting outcomes

The data includes a shareholder meeting outcome note dated 20 Aug, referencing the 31st AGM held on 19 Aug 2025. It states that a Committee of Creditors (COC) approved a Resolution Plan (100%) submitted to NCLT, and that audited FY2024 financials were adopted and an auditor appointed.

A separate line mentions an “Adjourned AGM on 19 Aug 2025” where financials were adopted and a statutory auditor appointed, with 2,321,514 votes (99.99%).

Key financial snapshot table

Why the disclosures matter

The quarterly pattern of near-zero income alongside recurring losses highlights the importance of tracking corporate filings, auditor observations and shareholder meeting outcomes. In such situations, investors typically rely on the cadence of results announcements, compliance filings under SEBI regulations, and audited annual reports for clarity on operations.

Separately, the FY22 annual report provides a period where operations income was materially higher than the recent quarters shown, with income from operations of Rs 2.0630 crore and a stated profit of Rs 0.0875 crore. The gap between that annual snapshot and later quarters underscores the need to read both annual and quarterly disclosures together, while noting that the provided extract also mentions no new real estate activity during FY22.

Conclusion

Rajeswari Infrastructure’s latest quarterly disclosures show negligible revenue and continued losses through March 2024, while its FY22 annual report recorded Rs 2.0630 crore income from operations and no dividend recommendation for that year. Recent corporate updates also reference the 31st AGM held on 19 Aug 2025, including adoption of audited FY2024 financials, auditor appointment, and a resolution plan approved by the COC and submitted to the NCLT.