Financial results for the quarter ended 30th June, 2025
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Hercules Hoists Limited, which operates as an unregistered Core Investment Company holding a portfolio of investments in Bajaj Group companies, reported its Q1 FY26 results. Revenue from operations fell sharply to Rs. 17.15 lakh from Rs. 27.42 lakh in Q1 FY25, a decline of about 37%. Despite lower expenses, profit before tax dropped to Rs. 3.82 lakh from Rs. 27.42 lakh, and the company slipped into a small net loss of Rs. 0.77 lakh versus a profit of Rs. 20.52 lakh last year, largely due to deferred tax charges. However, other comprehensive income was very strong at Rs. 9,527 lakh (vs Rs. 2,669 lakh in Q4 FY25), reflecting fair value gains on its investment portfolio. The Board also noted a Scheme of Arrangement for demerger between HHL and Indef Manufacturing. Auditor Kanu Doshi Associates LLP issued a clean limited review report.
Operating performance weakened quarter-on-quarter with revenue falling and net profit turning negative, which is negative for the stock in the short term. However, the large jump in other comprehensive income signals strong unrealised value build-up in the company's Bajaj Group investment portfolio, which is the main value driver for shareholders given its CIC structure.