AUDITED RESULTS FOR THE QUARTER AND FINANCIAL YEAR ENDED 31.03.2025
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Hindustan Motors reported audited FY25 results showing a net profit of Rs. 1,567 lakhs, down from Rs. 2,542 lakhs in FY24. Revenue from operations dropped sharply to Rs. 225 lakhs from Rs. 325 lakhs, as the Uttarpara plant remains under suspension of work since May 2014 with no real operations. Profitability is largely driven by one-time gains from selling old plant and equipment (Rs. 1,743 lakhs booked under Other Income) rather than any business activity. The company has managed to sharply reduce its accumulated losses from Rs. 25,218 lakhs in FY17 to Rs. 10,752 lakhs in FY25, and its net worth turned positive at Rs. 2,461 lakhs versus Rs. 905 lakhs last year. The company is debt-free on financial borrowings. However, operating cash flow was deeply negative at Rs. (2,694) lakhs because there is no operating business generating cash. The auditor flagged a 'Material Uncertainty related to Going Concern' as the company has no operations and is relying on asset sales. The auditor also added an 'Emphasis of Matter' on the West Bengal government's land resumption order for the Uttarpara plant, which is being appealed at the Calcutta High Court.
For shareholders, the headline profit looks encouraging but is not from any real business — it is mostly one-off gains from selling factory assets. The auditor's going concern flag and the lack of operating revenue mean the stock remains speculative. Watch for resolution of the Uttarpara land case and any revival of actual manufacturing, as the company's future depends entirely on that.