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Rajputana Stainless Limited (RSL)

₹180.09 +5.56% last close, 16 Oct

📊 NSE: RSL 🏢 Iron & Steel Products 📢 Latest filing: 22 Sep 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Rajputana Stainless' revenue was ₹307 Cr (+32.1% year on year, +20.2% on the previous quarter), and net profit ₹20.2 Cr (+83.6% year on year); the operating margin was 9.4%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹307	+32.1%	+20.2%
Operating profit	₹28.7	+36.8%	+19.7%
Net profit	₹20.2	+83.6%	+55.4%
EPS (₹)	2.42	+49.4%	+54.1%
Operating margin	9.4%	—	—

Full quarterly financials → Results calendar →

RSL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 39.93% of the RSL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 44.25%. That is close to its usual level. It traded 2.0 times its average daily volume.

39.93%Delivery, 16 Oct

44.25%Own 20-session average

2.0×Volume vs its average

₹180.09NSE close · +5.56%

Delivery in the last 5 sessions: 46.8% · 60.1% · 25.6% · 33.2% · 39.9%

Delivery across the market →Unusual volume today →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Rajputana Stainless Acquires Mumbai Office Space for ₹2.60 Crore

🟡 NEUTRAL ⭐ 3/10

OTHER 📅 22 Sep 2026, 07:16 PM

Rajputana Stainless Limited has executed and registered two sale deeds to acquire office premises in Mumbai for an aggregate consideration of ₹2.60 crore. The purchase comprises Apartment No. 701 (522.59 sq. ft. RERA carpet area for ₹1.25 crore) and Apartment No. 702 (530 sq. ft. RERA carpet area for ₹1.35 crore) in 'Sach Vintage' at Girgaon, Mumbai. The property was acquired from M/s Sach Realty and is intended to be used as the company's Mumbai office. Relative to quarterly revenue of ₹306.54 crore (Jun 2026), the acquisition is minor and was fully paid on completion on September 22, 2026.

Acquired two properties (Apartment Nos. 701 and 702) for a total consideration of ₹2,60,00,000
Apartment No. 701 measures 522.59 sq. ft. RERA carpet area (48.55 sq. meters) bought for ₹1,25,00,000
Apartment No. 702 measures 530 sq. ft. RERA carpet area (49.24 sq. meters) bought for ₹1,35,00,000
Transaction completed and fully paid on September 22, 2026 from non-related party M/s Sach Realty

💡 Track upcoming quarterly operational updates; no specific corporate action or shareholder vote is necessitated by this routine real estate purchase.

CARE Assigns 'CARE A-; Stable / CARE A2+' Rating to Rajputana Stainless' ₹160 Cr Bank Facilities

🟢 POSITIVE ⭐ 6/10

OTHER 📅 08 Sep 2026, 02:42 PM

CARE Ratings has assigned 'CARE A-; Stable' and 'CARE A2+' credit ratings to Rajputana Stainless Limited's bank loan facilities totalling ₹160.00 crore. The rating reflects the company's moderate scale of operations, with FY26 revenue of ₹1,008 crore and Q1FY27 revenue of ₹307 crore, alongside improved leverage following its ₹178.73 crore IPO in March 2026. Net worth expanded to ₹363.23 crore as of March 31, 2026, leading to overall gearing improving to 0.39x. Additionally, the company fully repaid its term loans in Q1FY27, driving PBILDT interest coverage up to 16.70x.

CARE Ratings assigned 'CARE A-; Stable / CARE A2+' to ₹130.00 crore long-term/short-term facilities and 'CARE A-; Stable' to ₹30.00 crore long-term facilities.
Reported Total Operating Income of ₹1,008 crore in FY26 (up 8% y-o-y) and ₹307 crore in Q1FY27.
IPO proceeds of ₹178.73 crore helped expand net worth to ₹363.23 crore and reduce overall gearing to 0.39x as of March 31, 2026.
Term loans were prepaid entirely in Q1FY27, boosting PBILDT interest coverage to 16.70x from 4.60x in FY26.

💡 Track execution and debt additions related to the planned capex for bright bars expansion and the new seamless pipes unit, as well as working capital cycle trends.

RSL Awards ₹38.92 Cr Captive Wind & Solar Contracts to Suzlon and Prozeal Green

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 07 Sep 2026, 06:20 PM

Rajputana Stainless Limited's board approved contracts for 10.10 MW of captive renewable energy capacity in Gujarat. The company awarded a 2.10 MW wind power contract to Suzlon Energy for ₹16.21 crore and an 8.00 MWp DC solar contract to Prozeal Green Energy for ₹22.71 crore. The projects have execution timelines of 11 months and 4 months, respectively. The combined capex of ~₹38.92 crore is aimed at fulfilling internal power requirements and reducing long-term energy costs.

Awarded 2.10 MW wind power project to Suzlon Energy for ₹16.21 crore (INR 1,621 Lacs + GST) with an 11-month timeline.
Awarded 8.00 MWp DC solar project to Prozeal Green Energy for ₹22.71 crore (+ GST) with a 4-month timeline.
Total captive renewable power capex stands at ₹38.92 crore across Jamjodhpur and Banaskatha sites in Gujarat.
Projects will exclusively cater to the captive power requirements of Rajputana Stainless Limited.

💡 Track timely commissioning within the 4-month (solar) and 11-month (wind) target periods, followed by improvements in power and fuel cost lines in quarterly financial results.

RSL Awards ₹38.92 Cr Wind & Solar EPC Contracts for Captive Power

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 07 Sep 2026, 06:16 PM

Rajputana Stainless Limited has approved awarding EPC contracts for captive renewable energy projects totalling 10.1 MW in Gujarat. A 2.10 MW wind project contract worth ₹16.21 crore plus GST was awarded to Suzlon Energy Limited with an 11-month execution timeline. Additionally, an 8.00 MWp DC solar project contract worth ₹22.71 crore plus GST was awarded to Prozeal Green Energy Limited with a 4-month execution timeline. The total capex of ~₹38.92 crore is aimed at meeting the company's captive power requirements.

Awarded 2.10 MW wind power project at Jamjodhpur, Gujarat to Suzlon Energy for INR 1,621 Lacs + GST (11-month execution)
Awarded 8.00 MWp DC ground-mounted solar project at Banaskatha, Gujarat to Prozeal Green Energy for INR 22.71 Crores + GST (4-month execution)
Total combined renewable capex stands at approximately ₹38.92 crore
Projects will supply captive power to Rajputana Stainless Limited to reduce operational energy costs

💡 Track timely commissioning of the solar unit (within 4 months) and wind unit (within 11 months), and monitor resulting reductions in power and fuel expenses in upcoming quarterly financials.

Rajputana Stainless Schedules 35th AGM for Sep 23, 2026; Recommends ₹0.50/Share Final Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Aug 2026, 07:20 PM

Rajputana Stainless Limited has issued the notice for its 35th Annual General Meeting scheduled for September 23, 2026, via video conferencing, with the e-voting cut-off set for September 16, 2026. The company proposes a final dividend of ₹0.50 per share (5% on face value of ₹10), resulting in a cash outflow of ₹4.18 crore. As per the FY26 financials disclosed in the report, annual net profit grew 25% to ₹49.82 crore (EPS ₹7.17) compared to ₹39.85 crore in FY25. Additionally, the company maintained a net cash position of ₹65.14 crore as of March 31, 2026, following its March 2026 IPO.

35th AGM scheduled for September 23, 2026, with cut-off date for e-voting fixed as September 16, 2026
Final dividend recommended at ₹0.50 per equity share (5% of FV ₹10), entailing a total payout of ₹417.87 lakhs
FY26 net profit reported at ₹4,981.84 lakhs with basic EPS of ₹7.17, up from ₹3,985.14 lakhs in FY25
Company shifted to a net cash position of ₹6,513.81 lakhs as of March 31, 2026, supported by IPO proceeds
Unutilized IPO proceeds stood at ₹12,092.17 lakhs as of March 31, 2026, including ₹1,857.00 lakhs earmarked for capex

💡 Track voting outcomes at the AGM on September 23, 2026, and monitor the deployment of ₹18.57 crore unutilised IPO capex for the Panchmahal facility expansion in upcoming quarters.

₹178.73 Cr IPO Proceeds: Rajputana Stainless Reports Zero Deviation in Q1 FY27 Utilization

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 13 Aug 2026, 04:03 PM

Rajputana Stainless Limited (RSL) has confirmed zero deviation in the utilization of its ₹178.73 crore IPO proceeds for the quarter ended June 30, 2026. As of the reporting date, the company has utilized ₹157.40 crore, with the largest portion directed toward debt repayment (₹96.01 crore). Notably, the ₹18.57 crore allocated for capital expenditure at the Panchmahal facility remains entirely unutilized as of June 30. The monitoring agency, CARE Ratings Limited, has reviewed the statement with no adverse comments.

Total funds raised through IPO on March 17, 2026, amounted to ₹178.73 Crores.
Cumulative utilization of funds as of June 30, 2026, stands at ₹157.40 Crores.
₹96.01 Crores utilized for repayment of borrowings against an allocation of ₹98.00 Crores.
₹18.57 Crores allocated for capital expenditure at the Panchmahal facility remains unspent.
General corporate purposes saw utilization of ₹44.46 Crores out of ₹44.64 Crores allocated.

💡 Investors should monitor the commencement and execution timeline of the ₹18.57 crore capital expenditure for the Panchmahal facility, as this represents the company's primary growth and diversification initiative.

Rajputana Stainless Re-appoints Statutory Auditor for 5-Year Term and Other Audit Appointments

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Aug 2026, 06:54 PM

Rajputana Stainless Limited has announced the re-appointment of its Statutory Auditor, M/s. Ruparel & Bavadiya, for a second five-year term starting from the 35th AGM in 2026. Additionally, M/s. Kavita Khatri & Associates has been appointed as the Secretarial Auditor for a five-year period from 2026 to 2031. The company also confirmed the re-appointment of M/s. Y S Thakar & Co. as Cost Auditors and M/s. Jain & Hindocha as Internal Auditors for FY 2026-27. These appointments are subject to shareholder approval at the upcoming Annual General Meeting.

Statutory Auditor re-appointed for a second term of 5 consecutive years until the 40th AGM.
Secretarial Auditor appointed for a 5-year term commencing April 01, 2026, through March 31, 2031.
Cost Auditor and Internal Auditor re-appointed specifically for the Financial Year 2026-27.
Statutory Auditor firm holds a valid Peer Review Certificate until May 31, 2029.

💡 Investors should look for the 35th Annual General Meeting (AGM) notice to confirm shareholder ratification of these appointments and review the upcoming annual report for any auditor observations.

Rajputana Stainless Declares Rs 0.50 Dividend; Rs 18.57 Cr Capex Funds Unutilized

🟡 NEUTRAL ⭐ 6/10

BOARD_MEETING 📅 12 Aug 2026, 06:28 PM

Rajputana Stainless Limited (RSL) has finalized a dividend of Rs 0.50 per share for FY26, setting the record date for September 16, 2026. In a significant update on IPO proceeds, the company revealed that Rs 1,857.17 lakhs (approx. Rs 18.57 crore) earmarked for the Panchmahal facility expansion remains unutilized as of June 30, 2026. However, the company has successfully utilized Rs 9,601.30 lakhs for debt repayment. The board also approved the re-appointment of statutory auditors for a second five-year term and scheduled the 35th AGM for September 23, 2026.

Final dividend of Rs 0.50 per equity share (5% of face value) declared for FY26.
Record date for dividend eligibility and AGM voting fixed as September 16, 2026.
Rs 1,857.17 lakhs of IPO proceeds for Panchmahal facility expansion remains entirely unspent as of June 30, 2026.
Rs 9,601.30 lakhs of IPO proceeds utilized for repayment or prepayment of borrowings.
Statutory auditors M/s. Ruparel & Bavadiya re-appointed for a 5-year term until the 40th AGM.

💡 Investors should monitor the timeline for the commencement of the Panchmahal facility expansion, as the unutilized Rs 18.57 crore is critical for capacity growth. Track the full Q1 FY27 financial results to assess operational performance post-listing.

Rajputana Stainless Limited sets Sept 16 as Record Date for 35th AGM and Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Aug 2026, 06:14 PM

Rajputana Stainless Limited (RSL) has scheduled its 35th Annual General Meeting (AGM) for September 23, 2026, to be held via video conferencing. The company has fixed September 16, 2026, as the record date to determine shareholder eligibility for e-voting and the receipt of dividends, if declared. Remote e-voting will be conducted between September 20 and September 22, 2026. If approved, dividend payments will be processed within 30 days of the AGM declaration.

35th Annual General Meeting scheduled for Wednesday, September 23, 2026, at 3:00 PM IST
Record date for dividend eligibility and e-voting fixed as Wednesday, September 16, 2026
Remote e-voting period starts September 20, 2026 (9:00 AM) and ends September 22, 2026 (5:00 PM)
Dividend payment to be completed within 30 days from the date of declaration at the AGM

💡 Investors should ensure their holdings are in their demat accounts by the September 16 record date to be eligible for the dividend and to participate in the e-voting process.

Rajputana Stainless Sets Sep 16, 2026 as Record Date for Dividend and 35th AGM

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 12 Aug 2026, 05:11 PM

Rajputana Stainless Limited (RSL) has fixed September 16, 2026, as the record date for its 35th Annual General Meeting (AGM) and to determine eligibility for dividend payments. The AGM is scheduled for September 23, 2026, via video conferencing. Remote e-voting will be open from September 20 to September 22, 2026. While the specific dividend amount was not disclosed in this filing, the company confirmed that payments will be processed within 30 days of the AGM declaration.

Record date for dividend eligibility and e-voting fixed for September 16, 2026
35th Annual General Meeting scheduled for September 23, 2026, at 3:00 PM IST
Remote e-voting period runs from September 20 (9:00 AM) to September 22 (5:00 PM), 2026
Dividend payment to be completed within 30 days of declaration at the AGM

💡 Investors interested in the dividend should ensure their shareholding is reflected in the records by September 16, 2026. Monitor the AGM outcome for the specific dividend quantum and management's commentary on the steel sector.

Rajputana Stainless Declares ₹0.50 Dividend; ₹18.57 Cr IPO Capex Remains Unutilized

🟡 NEUTRAL ⭐ 6/10

BOARD_MEETING 📅 12 Aug 2026, 04:26 PM

Rajputana Stainless Limited (RSL) approved its Q1 FY27 financial results and confirmed a final dividend of ₹0.50 per share for FY26. The company has fixed September 16, 2026, as the record date for both dividend eligibility and its 35th AGM. A key takeaway from the filing is that ₹18.57 crore allocated for the Panchmahal facility expansion from IPO proceeds remains entirely unutilized as of June 30, 2026. The board also recommended the re-appointment of statutory and secretarial auditors for five-year terms to ensure governance continuity.

Final dividend of ₹0.50 per equity share (5% of face value) confirmed for FY26.
Record date for dividend and AGM voting eligibility set for September 16, 2026.
₹18.57 crore allocated for Capex (Panchmahal Facility) from IPO proceeds is 0% utilized as of June 30, 2026.
₹96.01 crore of IPO proceeds successfully utilized for repayment or prepayment of borrowings.
Statutory auditors M/s. Ruparel & Bavadiya recommended for a second 5-year term until the 40th AGM.

💡 Investors should monitor the timeline for the Panchmahal facility expansion, as the allocated funds are currently sitting in fixed deposits rather than generating operational returns.

Rajputana Stainless Limited Submits Quarterly Compliance Certificate for June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jul 2026, 03:19 PM

Rajputana Stainless Limited (RSL) has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, provided by KFin Technologies Limited, confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, have been processed. This filing is a standard procedural requirement for listed companies to verify the accuracy of their electronic shareholding records. No material changes in share capital or ownership structure were reported in this specific document.

Covers the compliance period for the quarter ended June 30, 2026
Certificate issued by Registrar and Transfer Agent (RTA) KFin Technologies Limited
RTA confirmation letter was dated July 1, 2026
Filing submitted to stock exchanges on July 13, 2026

💡 This is a routine administrative filing; investors should monitor the company's upcoming quarterly earnings report for operational performance updates.

Rajputana Stainless Upgraded by CRISIL to BBB+/Stable on Rs 165 Cr Bank Facilities

🟢 POSITIVE ⭐ 9/10

REGULATORY 📅 04 Jul 2026, 02:36 PM

CRISIL Ratings has upgraded the credit ratings for Rajputana Stainless Limited's bank loan facilities totaling Rs 165 crore. The long-term rating has been raised to 'CRISIL BBB+/Stable' from 'CRISIL BBB/Stable', and the short-term rating improved to 'CRISIL A2' from 'CRISIL A3+'. This upgrade indicates an improved credit profile and better debt-servicing capability for the company's outstanding debt, which includes Rs 65 crore in cash credit and Rs 65 crore in non-fund based limits.

Total bank loan facilities rated at Rs 165 crore across multiple lenders including SBI and IDBI Bank.
Long-term rating upgraded to CRISIL BBB+/Stable from CRISIL BBB/Stable.
Short-term rating upgraded to CRISIL A2 from CRISIL A3+.
Includes a proposed fund-based bank limit of Rs 11.63 crore for future utilization.
Working capital term loan from Axis Finance Limited stands at Rs 15.03 crore.

💡 Investors should monitor the company's interest expense in upcoming quarterly results to see if this upgrade translates into lower borrowing costs. The utilization of the Rs 11.63 crore proposed limits may indicate upcoming operational scaling.

Rajputana Stainless Limited to Close Trading Window from July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Jun 2026, 02:57 PM

Rajputana Stainless Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI insider trading regulations. This closure is ahead of the board meeting to consider and approve the unaudited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons, including promoters and directors, until 48 hours after the results are declared. This is a standard regulatory procedure followed by listed companies every quarter.

Trading window closure commences on Wednesday, July 1, 2026
Closure is related to the approval of unaudited financial results for the quarter ending June 2026
The window will reopen 48 hours after the official announcement of the financial results
Restriction applies to all designated persons, promoters, and their immediate relatives

💡 No action is required as this is a routine regulatory filing. Investors should await the announcement of the board meeting date to review the company's quarterly performance.

RSL FY26 Net Profit Rises 25% to ₹49.82 Cr; ₹0.50 Dividend Declared

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 18 Jun 2026, 05:45 PM

Rajputana Stainless Limited (RSL) reported a robust financial performance for the fiscal year ended March 31, 2026, with total income crossing the ₹1,000 crore milestone at ₹1,010.87 crore, up 8% from FY25. Net profit for the full year surged by 25% to ₹49.82 crore compared to ₹39.85 crore in the previous year. The company also showed strong quarterly momentum, with Q4 FY26 net profit jumping 58.5% year-on-year to ₹13.10 crore. Consequently, the Board has recommended a final dividend of ₹0.50 per share (5% of face value).

Annual Net Profit increased by 25% to ₹4,981.84 lakhs in FY26 from ₹3,985.14 lakhs in FY25.
Total Income for FY26 reached ₹1,01,086.70 lakhs, representing an 8% growth over the previous fiscal year.
Q4 FY26 Net Profit stood at ₹1,310.26 lakhs, a significant 58.5% increase compared to ₹826.84 lakhs in Q4 FY25.
Board recommended a final dividend of ₹0.50 per equity share (5% of face value of ₹10).
Earnings Per Share (EPS) improved to ₹7.17 for FY26, up from ₹5.78 in FY25.

💡 Investors should take note of the significant margin expansion and the crossing of the ₹1,000 crore revenue threshold. The stock remains a positive hold for those seeking exposure to the stainless steel sector, supported by consistent profit growth and dividend payouts.

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