RattanIndia Enterprises (534597) Q4 17/18 earnings summary

Executive summary

• FY18 standalone net loss narrowed to ₹190.07 lakh from ₹472.41 lakh; consolidated net loss widened to ₹66,319.34 lakh, driven primarily by the associate’s losses.

• The core investment remained a 40.13% stake in RattanIndia Power Limited (RPL); operating updates covered its commissioned Maharashtra thermal units and unresolved power-sales arrangements.

Financial highlights

• Standalone other income was ₹4.19 lakh versus ₹21.97 lakh; total expenses fell to ₹193.90 lakh from ₹538.14 lakh, mainly reflecting lower employee costs.

• Consolidated other income was ₹4.19 lakh versus ₹21.97 lakh; total expenses were ₹193.90 lakh versus ₹538.14 lakh before the equity-accounted associate loss.

• The share of RPL’s loss was ₹66,129.63 lakh, up from ₹27,266.35 lakh; consolidated loss before tax reached ₹66,319.34 lakh versus ₹27,782.52 lakh.

• Standalone total comprehensive loss was ₹190.07 lakh versus ₹472.41 lakh; consolidated total comprehensive loss was ₹66,319.70 lakh versus ₹27,738.76 lakh.

• Operating cash flow was ₹18.58 lakh versus an outflow of ₹154.59 lakh; year-end cash and cash equivalents were ₹7.47 lakh versus ₹27.74 lakh.

Outlook and guidance

• Management sought power generation, transmission and distribution consultancy opportunities, with plans to widen its client base, geographic reach and advisory services.

• World Bank projections cited in the report put India’s GDP growth at 7.3% in FY19 and 7.5% in FY20; investment revival was expected as businesses adjusted to GST.