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The board of Automobile Products of India Ltd, at its meeting on February 9, 2026, approved the unaudited financial results for Q3 and nine months ended December 31, 2025. The company reported a net loss of Rs. 57.85 lakhs in Q3 FY26, wider than Rs. 47.61 lakhs in Q2 FY26 and Rs. 39.52 lakhs in Q3 FY25. For the nine months of FY26, the loss came in at Rs. 149.72 lakhs versus Rs. 121.61 lakhs a year earlier. Total income from operations remained flat at Rs. 4.25 lakhs per quarter, while finance costs stood at Rs. 44.05 lakhs in Q3 FY26. The board also approved a rights issue of equity shares (face value Re. 1) for up to Rs. 14 lakhs to meet Minimum Public Shareholding (MPS) norms. The company's net worth is fully eroded, and its holding company has committed financial support to keep it as a going concern.
The rights issue is tiny (Rs. 14 lakhs) and purely aimed at fixing MPS compliance, not funding growth. Widening losses, a negative reserve position of Rs. 1,439.49 lakhs, and dependence on the holding company point to serious financial weakness, which is a key risk for shareholders.