RRP Semiconductor Ltd (504346)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, RRP Semiconductor's revenue was ₹0.0 Cr (-100.0% year on year), and net profit ₹-0.2 Cr (a smaller loss than a year earlier).
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | -100.0% | — |
| Operating profit | ₹-0.1 | to loss | loss widened |
| Net profit | ₹-0.2 | loss narrowed | loss widened |
| EPS (₹) | -0.13 | loss narrowed | loss widened |
📢 Recent Corporate Announcements
RRP Semiconductor Limited announced the scrutinizer report and voting results for its 46th Annual General Meeting held on September 30, 2026. All three ordinary resolutions were approved by shareholders with 100% of valid votes cast in favor. A total of 3,79,504 votes were cast out of 1,36,24,000 total shares, representing a voter turnout of 2.7856%. Approved items include the adoption of FY26 financial statements, the reappointment of director Mrs. Sumita Mishra, and the appointment of M/S Lipika & Associates as statutory auditor for a five-year term.
- All 3 ordinary resolutions passed with 100% approval of valid votes polled
- Total votes cast stood at 3,79,504 shares across 1,36,24,000 total equity shares (2.7856% turnout)
- Appointment of M/S Lipika & Associates as statutory auditor approved for a 5-year term
- Meeting was attended by 1 promoter shareholder and 27 public shareholders via video conferencing
RRP Semiconductor Limited held its 46th Annual General Meeting (AGM) via video conferencing on September 30, 2026. The meeting saw attendance from 28 members out of 1,538 total shareholders as of the September 23, 2026 cut-off date. Three ordinary business resolutions were taken up, including the adoption of FY26 financial statements, the reappointment of retiring director Mrs. Sumita Mishra, and the appointment of M/s. Lipika & Associates as statutory auditors for a 5-year term. Voting results and scrutinizer reports will be submitted separately.
- 46th AGM concluded on September 30, 2026, lasting 7 minutes from 02:00 PM to 02:07 PM IST
- Total of 28 members attended out of 1,538 eligible shareholders on the cut-off date of September 23, 2026
- Remote e-voting window was open from September 27 to September 29, 2026
- Appointment of M/s. Lipika & Associates, Chartered Accountants, as statutory auditors for a 5-year term was tabled
RRP Semiconductor Ltd (formerly GD Trading and Agencies) reported zero operational revenue for the quarter ended June 30, 2026, continuing its trend of minimal business activity. The company posted a net loss of Rs 32.89 Lakhs, which was exacerbated by a prior-period tax adjustment of Rs 21.98 Lakhs. Total expenses for the quarter were Rs 12.65 Lakhs, primarily consisting of finance charges and employee costs. Despite a market capitalization of Rs 11,770 Cr, the company's financial statements reflect a pre-operational stage in its semiconductor pivot.
- Revenue from operations stood at Rs 0.00 for the quarter ended June 30, 2026.
- Net loss widened to Rs 32.89 Lakhs from a loss of Rs 28.83 Lakhs in the year-ago period.
- Finance charges of Rs 7.12 Lakhs represented 56% of the total quarterly expenditure.
- A current tax expense relating to prior years amounting to Rs 21.98 Lakhs significantly impacted the bottom line.
- The company reported a negative EPS of Rs 0.24 for the quarter.
RRP Semiconductor reported zero revenue from operations for the quarter ended June 30, 2026, as it continues its transition toward semiconductor manufacturing. The company posted a net loss of ‹32.89 lakhs, slightly wider than the ‹28.83 lakhs loss in the same period last year. Total expenses for the quarter were ‹12.65 lakhs, with finance charges of ‹7.12 lakhs being the largest component. The company's 46th Annual General Meeting is scheduled for September 25, 2026, to discuss the previous fiscal year's performance and future strategy.
- Revenue from operations stood at ‹0.00 for the quarter ended June 30, 2026.
- Net loss widened to ‹32.89 lakhs from ‹28.83 lakhs in the year-ago quarter.
- Finance charges of ‹7.12 lakhs accounted for 56.2% of total quarterly expenses.
- The company has fixed September 18, 2026, as the cut-off date for AGM voting eligibility.
- Promoter holding remains extremely low at 1.28% as of the latest filings.
RRP Semiconductor Ltd has scheduled a board meeting on August 13, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. The company is currently in a transition phase from trading to semiconductor manufacturing, reporting a TTM revenue of ₹-7 Cr and a TTM loss of ₹-8 Cr. Despite the lack of current revenue, the market capitalization stands at ₹11,770 Cr, leading to an exceptionally high P/B ratio of 1302.0. Investors will be looking for any signs of operational revenue from the new semiconductor FAB center initiative.
- Board meeting scheduled for August 13, 2026, at 04:00 p.m.
- Financial results to cover the three-month period ended June 30, 2026.
- Trading window has been closed since June 26, 2026, and will remain so until 48 hours after the results.
- Company currently operates with a very low promoter holding of 1.28% as of March 2026.
RRP Semiconductor has proposed the appointment of M/s. Lipika and Associates as its statutory auditor for a five-year term (FY 2026-27 to 2030-31). This follows the resignation of M/s. PAMS & Associates on June 26, 2026, who cited geographical constraints after closing their Mumbai branch in 2024. The change comes at a time when the company is pivoting to semiconductor manufacturing despite reporting a negative TTM revenue of -Rs 7 Cr and maintaining a very low promoter holding of 1.3%. The appointment is subject to shareholder approval at the upcoming Annual General Meeting.
- M/s. PAMS & Associates resigned effective June 26, 2026, citing logistical challenges in auditing Mumbai operations from Bhubaneswar.
- M/s. Lipika and Associates proposed for a 5-year tenure spanning FY 2026-27 to FY 2030-31.
- The outgoing auditor had been associated with the company since August 28, 2024.
- The company currently operates with a minimal promoter holding of 1.28% and a high P/B ratio of 1341.9.
- The new auditor, Lipika and Associates, is a Noida-based firm established in 2017 with a branch office in Mumbai.
RRP Semiconductor Ltd has announced the resignation of its statutory auditor, M/s. PAMS & Associates, effective June 26, 2026. The auditor cited the closure of their Mumbai branch in 2024 and the resulting logistical difficulty of auditing from their Bhubaneswar headquarters as the primary reason. The Board has proposed the appointment of M/s. Lipika and Associates for a five-year term (FY 2026-27 to 2030-31), pending shareholder approval at the upcoming AGM. The outgoing auditor confirmed there are no unresolved issues or material concerns regarding the company's accounts.
- Statutory auditor M/s. PAMS & Associates resigned effective June 26, 2026, due to geographical constraints.
- Proposed new auditor M/s. Lipika and Associates to be appointed for a 5-year term until FY 2030-31.
- Outgoing auditor's Mumbai branch was closed in 2024, making remote audit from Bhubaneswar difficult.
- Company maintains a market capitalization of Rs 12,130 Cr despite a negative TTM revenue of Rs -7 Cr.
- The outgoing auditor stated no material reasons or unresolved qualifications for the resignation.
RRP Semiconductor has accepted the resignation of its statutory auditor, M/s. PAMS & Associates, effective June 26, 2026. The resignation was attributed to geographical constraints after the auditor closed its Mumbai branch in 2024, making it difficult to audit the Mumbai-based company from Bhubaneswar. The board has proposed M/s. Lipika and Associates as the new auditor for a five-year term (FY 2026-27 to 2030-31), subject to shareholder approval at the upcoming AGM. This administrative change comes as the company maintains a high market cap of ₹12,130 Cr despite negative TTM revenue of ₹-7 Cr.
- Resignation of M/s. PAMS & Associates as Statutory Auditor effective June 26, 2026.
- Proposed appointment of M/s. Lipika and Associates for a 5-year term until FY 2030-31.
- Auditor's Mumbai branch closure in 2024 cited as the primary reason for the change.
- Company market capitalization stands at ₹12,130 Cr against a TTM revenue of ₹-7 Cr.
- The new auditor, M/s. Lipika and Associates, maintains a branch office in Mumbai for better operational proximity.
RRP Semiconductor Ltd has scheduled a Board of Directors meeting for July 20, 2026. The primary agenda for the meeting is the appointment of a Statutory Auditor for the company. The meeting is set to take place at 4:00 P.M. in a hybrid format at the company's registered office. This is a routine administrative procedure required under SEBI (LODR) Regulations, 2015.
- Board meeting scheduled for July 20, 2026, at 4:00 P.M.
- Primary agenda item is the appointment of a Statutory Auditor
- Meeting to be held in hybrid mode at the registered office in Navi Mumbai
- Filing made pursuant to Regulation 29 and 30 of SEBI LODR Regulations
Financial Performance
Revenue Growth by Segment
Total revenue grew by 8,213.5% YoY, increasing from INR 38.00 Lakh in FY23 to INR 3,159.14 Lakh in FY24, primarily driven by the company's entry into the trading of electronic parts and semiconductor activities.
Geographic Revenue Split
Not disclosed in available documents, though the company focuses on the Indian semiconductor industry and aims to emerge as a global player.
Profitability Margins
Net Profit Margin stood at 26.79% in FY24 (INR 846.37 Lakh profit on INR 3,159.14 Lakh revenue), a significant turnaround from a net loss of INR 1.70 Lakh in FY23.
EBITDA Margin
Profit Before Tax (PBT) margin was 36.28% (INR 1,146.37 Lakh) in FY24, compared to a negative margin in the previous year, reflecting high profitability in the new semiconductor trading business.
Capital Expenditure
The company raised capital through a preferential issue of 1,35,25,000 equity shares at a face value of INR 10 each (approximately INR 13.52 Cr) to fund its expansion into the semiconductor FAB center and trading activities.
Credit Rating & Borrowing
The company took a loan of INR 857.58 Lakh from a group company, RRP Drones Innovation Pvt Ltd, and paid interest of INR 8.42 Lakh during FY25. No formal credit rating is mentioned.
Operational Drivers
Raw Materials
Electronic parts and semiconductor chips represent the primary cost of goods sold, though specific percentage breakdowns for each component are not provided.
Import Sources
Not disclosed in available documents, but the company mentions reliance on complex global supply chains for semiconductor components.
Key Suppliers
RRP Electronics Ltd (Group Company) supplied goods/services worth INR 15.48 Lakh; RRP S4E Innovation Limited supplied goods worth INR 1.0 Lakh.
Capacity Expansion
The company is transitioning from a trading-only model to establishing a semiconductor FAB center to manufacture electronic devices and chips.
Raw Material Costs
Total expenditure was INR 2,048.76 Lakh in FY24, representing 64.8% of revenue, primarily driven by the procurement of electronic components for trading.
Manufacturing Efficiency
Not disclosed as the company is currently in the commencement phase of its new semiconductor business object.
Strategic Growth
Growth Strategy
The company plans to achieve growth by leveraging the Government of India's PLI Scheme (incentives and subsidies) and the 'Make in India' initiative. It has changed its main business object to semiconductors and electronics to capture the growing domestic demand for chips and is establishing a FAB center.
Products & Services
Semiconductor chips, electronic devices, and electronic parts for industrial and consumer applications.
Brand Portfolio
RRP Semiconductor Limited (formerly G D Trading & Agencies Limited).
New Products/Services
Commencement of semiconductor chip manufacturing and FAB center operations, expected to be the primary revenue driver in future periods.
Market Expansion
Expansion into the Indian semiconductor sector with a focus on becoming a global player in electronic device supply.
Strategic Alliances
Related party transactions with RRP Electronics Ltd, RRP Drones Innovation Pvt Ltd, and RRP S4E Innovation Limited for loans, trading, and infrastructure.
External Factors
Industry Trends
The Indian semiconductor industry is growing rapidly due to government support (PLI schemes) and a shift toward domestic electronics manufacturing. The industry is evolving from pure trading to local design and R&D-led manufacturing.
Competitive Landscape
Faces stiff competition in the finance field and emerging competition from large global and domestic players in the semiconductor space.
Competitive Moat
The company's moat is based on early alignment with the 'Make in India' semiconductor policy and its transition into a specialized FAB center, though sustainability depends on attracting highly skilled talent.
Macro Economic Sensitivity
Highly sensitive to global economic downturns and fluctuations in consumer demand for electronics, which directly impact semiconductor sales.
Consumer Behavior
Increased demand for personal finance and electronic devices is driving the company's shift toward semiconductor manufacturing.
Geopolitical Risks
Trade disputes and geopolitical tensions are cited as major threats to the semiconductor supply chain, potentially causing production delays.
Regulatory & Governance
Industry Regulations
Subject to the Information Technology Act 2000 and Software Technology Parks of India (STPI) rules and regulations.
Taxation Policy Impact
Provision for taxation was INR 300.00 Lakh in FY24, representing an effective tax rate of approximately 26.17% on PBT.
Risk Analysis
Key Uncertainties
Shortage of highly skilled professionals (engineers/technicians) could impede technological advancement by 15-20%. High capital requirement for FAB centers poses a financial risk.
Geographic Concentration Risk
Operations are primarily centered in Mahape, Thane (Maharashtra), with a focus on the Indian market.
Third Party Dependencies
Significant dependency on group companies (RRP Electronics, RRP Drones) for loans and initial trading activities.
Technology Obsolescence Risk
High risk due to the rapid pace of semiconductor innovation; failure to invest in R&D could lead to products becoming outdated quickly.
Credit & Counterparty Risk
The company has extended a loan of INR 668.71 Lakh to RRP Electronics Ltd, creating counterparty credit exposure.
