Rajdarshan Industries Ltd (ARENTERP)
🎯 Key Takeaways
- Rajdarshan Industries Ltd appears to be in a distressed or dormant phase, with no meaningful revenue or operational activity reflected in recent quarters and negative financial metrics. The company's zero revenue and persistent losses suggest a fundamental breakdown in its core mining operations, despite a stable promoter holding and minimal debt.
- Revenue grew 172.7% QoQ to ₹0 in Q1FY27.
- ⚠️ 1) Persistent zero revenue and operational inactivity raise concerns about business viability. 2) Negative ROE and ROCE suggest capital is not being u
- Market Cap
- ₹10
- P/B Ratio
- 0.49
- ROE
- -0.3%
- ROCE
- 0.8%
- Debt/Equity
- 0.00
- Promoter
- 63.7%
📖 The Story
Rajdarshan Industries Ltd appears to be in a distressed or dormant phase, with no meaningful revenue or operational activity reflected in recent quarters and negative financial metrics. The company's zero revenue and persistent losses suggest a fundamental breakdown in its core mining operations, despite a stable promoter holding and minimal debt.
📰 What's Happening
The most recent filing from April 24, 2026, confirms compliance with SEBI's insider trading norms via a certified Structured Digital Database, indicating no material insider activity or governance concerns. However, there are no disclosed operational updates, new orders, or strategic initiatives in the provided filings. The company has not announced any revival plans, expansions, or capital projects in the latest disclosures.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 | -0 |
| OPM % | -36.7% | -77.8% | -100.0% | -100.0% | -33.3% |
| Net Profit | 0 | -0 | 0 | -0 | 0 |
| EPS | ₹0.78 | ₹-0.24 | ₹0.30 | ₹-1.41 | ₹1.14 |
Revenue has been consistently zero across all recent quarters, with operating and net losses persisting despite minor fluctuations in EPS. The company reported a loss of ₹-0.24 crore in September 2025 and improved to a small profit of ₹0.3 crore in December 2025, but this was not sustained, with a return to near-zero performance in June 2026. The lack of revenue generation and recurring losses suggest the business is not currently viable without structural intervention.
🔮 Management Outlook & What's Next
There is no forward guidance or commentary from management in the provided filing content. No earnings calls, investor presentations, or management discussions are referenced in the extracted documents. The absence of strategic commentary or future projections indicates a lack of active planning or communication regarding business revival.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 |
| Reserves | 19 | 21 | 17 | 20 |
| Borrowings | 0 | 0 | 0 | 0 |
| Total Liabilities | 22 | 24 | 21 | 23 |
| Fixed Assets | 0 | 1 | 0 | 0 |
| Investments | 10 | 12 | 8 | 10 |
| Total Assets | 22 | 24 | 21 | 23 |
The balance sheet remains extremely lean, with total assets declining slightly from ₹23 crore to ₹21 crore between March 2025 and March 2026, and zero borrowings throughout. Equity and reserves have remained stable at ₹3 crore and ₹17–20 crore respectively, suggesting no major capital infusion or deleveraging activity. The company is not investing aggressively or reducing its asset base, but also not raising fresh capital.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -1 |
| Investing | +1 |
| Financing | 0 |
| Net Cash Flow | -0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 63.7% | 63.7% | 63.7% | 63.7% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.7% | 0.7% | 0.7% | 0.7% |
| Public | 32.2% | 32.1% | 32.0% | 32.0% |
| # Shareholders | 5,559 | 5,393 | 5,365 | 5,316 |
Promoter holding remains stable at 63.66% with no changes observed across quarters, indicating no stake sales or acquisitions. Foreign and domestic institutional holdings are negligible at 0% and 0.68% respectively, with slight public shareholder growth from 31.99% to 32.17% over the last year. The shareholder base is stable but lacks institutional interest or activist involvement.
⚖️ Peer Comparison — Mining & Mineral products
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| COALINDIA | 2.60 L Cr | 8.3 | 40.0% | — | 0.09 |
| LLOYDSME | 1.03 L Cr | 20.8 | 22.3% | — | 1.47 |
| NMDC | 68,066 | 9.1 | 30.8% | — | 0.13 |
| KIOCL | 20,205 | 511.5 | 2.9% | — | 0.00 |
| GMDCLTD | 16,612 | 17.4 | 17.4% | — | 0.04 |
| BHARATCOAL | 15,126 | — | -0.3% | — | 0.35 |
| SANDUMA | 8,833 | 12.3 | 25.5% | — | 0.31 |
| MOIL | 4,954 | 78.0 | 3.7% | — | 0.00 |
| ASHAPURMIN | 4,798 | 11.8 | 23.3% | — | 0.93 |
| DECNGOLD | 4,074 | — | -8.9% | — | 0.10 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Persistent zero revenue and operational inactivity raise concerns about business viability. 2) Negative ROE and ROCE suggest capital is not being used productively. 3) Lack of management communication or strategic updates implies potential stagnation. 4) No near-term catalysts or disclosed revival plans are visible in the filings.
📋 Recent Filings
- 🔴 annual report2026-09-07Rajdarshan Industries announced its 45th Annual General Meeting on September 30, 2026, for the financial year ending March 31, 2026, and provided acce…
- 🔴 annual report2026-09-07Rajdarshan Industries Limited reported a standalone net loss of ₹17.31 lakhs for FY 2025-26, down from a ₹23.45 lakh profit in FY 2024-25, with revenu…
- 🟡 Board Meeting2026-09-05Rajdarshan Industries held its 45th AGM on September 30, 2026 via video conference, adopting audited standalone and consolidated financial statements …
- 🟡 Board Meeting2026-09-05Rajdarshan Industries Limited announced its 45th Annual General Meeting to be held on September 30, 2026 via video conferencing. Shareholders will vot…
- share transfer2026-07-06Rajdarshan Industries Limited received confirmation from Ankit Consultancy Pvt Ltd, its share transfer agent, that securities dematerialized for the q…
- 🔴 Insider Trading2026-04-24Ronak Jhuthawat & Co., a practicing company of company secretaries, certified compliance with SEBI's Prohibition of Insider Trading Regulations, 2015,…
- share transfer2026-04-16Rajdarshan Industries Limited received confirmation from Ankit Consultancy Pvt Ltd, its registrar and share transfer agent, that securities dematerial…
🧠 Analyst's Read
The company shows no signs of operational recovery or strategic momentum, with financial performance frozen at minimal levels. Investors should monitor for any future disclosures on business resumption, capital allocation, or management engagement, but currently lack visibility into a credible path forward.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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