PFA outcome and results FY March 31, 2026
HGM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
HGM reported standalone revenue of Rs 5,675.74 lakhs for FY26, a massive jump from Rs 2,246.83 lakhs in FY25. Standalone PAT grew 33% to Rs 562.17 lakhs. However, consolidated results show a dramatic reversal—the company posted a consolidated loss of Rs 305.39 lakhs versus a profit of Rs 421.71 lakhs in FY25. This is primarily due to the acquisition of Aideo Technologies LLC (USA) in September 2025, which resulted in Rs 1,809.10 lakhs of goodwill recognition and additional debt of Rs 887.92 lakhs (Class B Preferred Stock). Consolidated borrowings increased from zero to Rs 1,528.42 lakhs. The auditors issued an unmodified (clean) opinion on both standalone and consolidated results. The company also disclosed promoter reclassification requests, a registered office shift, and re-appointment of an Independent Director.
Despite strong standalone performance, the consolidated loss and significant new debt from the Aideo acquisition raise concerns about financial health. The negative operating cash flow of Rs 447.94 lakhs and increased leverage could weigh on the stock. Investors should monitor the new subsidiary's integration and cash generation.