Board Meeting Outcome for Standalone Unaudited Financial Results for the Quarter and Half Year Ended September 30, 2025.
Awaiting price reaction for this filing.
Harig Crankshafts' board approved its unaudited standalone results for the quarter and half year ended September 30, 2025. The company reported zero revenue from operations and zero other income, while total expenses of about Rs 18.43 crore (Q2) drove a net loss of roughly Rs 18.43 crore for the quarter, with EPS at negative Rs 1.75. Statutory auditor M.B. Gupta & Co. issued a qualified (modified) conclusion because the company has not filed income tax returns for assessment years 2012-13 through 2023-24. The results are still prepared on a going-concern basis, with management relying on the NCLT-approved resolution plan from M/s Palika Towns LLP (approved April 2024), which had earlier led to large exceptional items in FY25 such as impairment of assets and derecognition of liabilities.
Shareholders should note that revenue is nil, losses continue, and shareholder equity is deeply negative (around Rs -65.5 crore hundreds) with borrowings of over Rs 76 crore and current liabilities rising sharply. The qualified auditor opinion and unresolved multi-year tax filing gaps add compliance and audit-risk concerns, though the company's solvency is being supported by the ongoing implementation of its NCLT-approved resolution plan.