Unaudited Financial Results for the quarter and nine months ended on December 31, 2025
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Automobile Products of India Ltd reported unaudited Q3 FY26 revenue from operations of just Rs. 4.25 lakhs, flat compared to Rs. 4.25 lakhs in Q3 FY25. The company posted a net loss after tax of Rs. 57.85 lakhs in Q3 FY26, wider than the Rs. 39.52 lakh loss in Q3 FY25. For the nine months ended December 2025, the net loss widened to Rs. 149.72 lakhs from Rs. 121.61 lakhs a year ago, with EPS at negative Rs. 3.11. The company's accumulated reserves stand at a deeply negative Rs. 1,439.49 lakhs against equity capital of only Rs. 48.18 lakhs, indicating complete erosion of net worth. Note 3 explicitly states the holding company will provide financial support to keep the business going as a going concern. The board also approved a small Rs. 14 lakh rights issue to comply with Minimum Public Shareholding (MPS) norms after BSE levied Rs. 21.59 lakhs in penalties for non-compliance.
This is a deeply distressed micro-cap with virtually no operating business, persistent losses that are widening, and a fully eroded net worth kept alive only by its holding company. The small rights issue is a regulatory compliance fix, not a value-creating event, and shareholders face significant dilution risk and continued value erosion.