The Board of Directors of the Company has, at its meeting held on November 13, 2025, inter alia considered and approved the Unaudited Standalone and Consolidated Financial Results for the ....
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The Board of Hariyana Ship-Breakers approved its Q2/H1 FY26 results on November 13, 2025. Total income for the half year rose to ₹616.34 lakhs from ₹437.15 lakhs in H1 FY25 (about 41% growth), while revenue from operations jumped to ₹130 lakhs from ₹22.45 lakhs. Profit after tax (standalone) surged to ₹293.09 lakhs from ₹72.45 lakhs (over 4x growth), lifting EPS to ₹4.75 versus ₹1.17. Operating cash flow also turned positive at ₹37.54 lakhs versus a negative full-year FY25 figure. However, the auditor flagged two major concerns: (1) ₹1,319 lakhs advance for a real estate project has not been recovered (7.81% of total assets), with a complaint filed with the economic offences wing in May 2025, and (2) ₹125.85 crores of capital contribution in partnership firms has been routed as loans to entities where directors are substantially interested, with 83.54% of total assets parked in such partnership investments.
Headline earnings look strong, but most profit comes from interest income rather than core ship-breaking operations, and the auditor's emphasis of matter highlights material recoverability and related-party concentration risks that investors should weigh carefully.