Mumbai, January 30, 2025 – Rajnish Retail Limited, formerly known as Sheetal Diamonds Limited, has announced its unaudited financial results for the quarter and nine months ended December 31, 2024.
Financial Highlights (Standalone)
(Figures in INR Lakhs)| Particulars | Q3 FY2024 | Q2 FY2024 | Q3 FY2023 | 9M FY2024 | 9M FY2023 | FY2023 (Audited) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 2,345.95 | 2,551.49 | 2,218.08 | 6,231.10 | 2,259.77 | 6,285.00 |
| Total Income | 2,361.33 | 2,563.00 | 2,243.43 | 6,260.52 | 2,426.70 | 6,663.30 |
| Purchases of Stock-in-Trade | 2,212.40 | 2,521.18 | 1,594.66 | 6,086.32 | 1,807.53 | 2,033.34 |
| Employee Benefits Expense | 2.60 | 7.60 | 0.58 | 18.57 | 2.53 | 3.55 |
| Finance Costs | - | 0.08 | - | 0.05 | 0.21 | 0.71 |
| Depreciation & Amortization | 0.05 | 0.04 | 3.80 | 0.10 | 5.67 | 5.67 |
| Other Expenses | 68.50 | 33.54 | 27.14 | 127.20 | 16.52 | 29.09 |
| Profit Before Tax (PBT) | 47.88 | 51.07 | 12.53 | 167.66 | 0.67 | 6.93 |
| Net Profit After Tax (PAT) | 35.91 | 38.30 | 8.77 | 125.4 | 1.99 | 3.17 |
| Earnings Per Share (Basic, INR) | 0.0234 | 0.1249 | 0.0400 | 0.0820 | 0.0100 | 0.1100 |
Key Corporate Developments
- Appointment of Company Secretary & Compliance Officer:
- Mrs. Priti Agrawal was appointed as Company Secretary and Compliance Officer, effective January 30, 2025.
- Preferential Allotment & Capital Restructuring:
- Conversion of 6,90,000 warrants into 34,50,000 equity shares at a price of ₹96 per share, raising ₹6.62 crore.
- The company's issued and paid-up equity share capital increased to ₹15.67 crore (from ₹11.19 crore) post-allotment.
- Stock Split: 1 equity share of ₹5 was split into 5 shares of ₹1 each.
- Investor Participation in Preferential Issue:
- Mr. Rajnishkumar Singh (Promoter): 8,00,000 shares allotted.
- Mr. Anandkumar Rameshkumar Jain (Non-Promoter): 26,50,000 shares allotted.
Auditor’s Limited Review Report
The independent auditors reviewed the financials and found no material misstatements in the unaudited results, confirming compliance with regulatory standards.Strategic Outlook
- Revenue Expansion: The company continues to focus on its retail operations and aims to enhance profitability through operational efficiencies.
- Shareholder Value: The preferential allotment and stock split aim to increase market liquidity and attract broader investor participation.
- Corporate Governance: The new appointment of the Company Secretary strengthens compliance and regulatory oversight.
Conclusion
Despite slight revenue contraction QoQ, net profit showed robust YoY growth. The preferential allotment and stock split signal strategic moves towards expansion, enhancing shareholder value.The company’s stable financial performance and strong governance measures suggest a promising outlook for investors.