UNAUDITED RESULTS FOR THE QUARTER ENDED 30.06.2025
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Hindustan Motors reported unaudited results for Q1 FY26 (quarter ended 30 June 2025) with no revenue from operations, as the Uttarpara plant has been under 'suspension of work' since May 2014. Total income stood at Rs. 511 lakhs (down from Rs. 918 lakhs in Q1 FY25), but the company posted a net profit of Rs. 416 lakhs (down from Rs. 808 lakhs) mainly due to Rs. 361.73 lakhs written back from old municipal tax liabilities. The Board approved voluntary delisting of equity shares from NSE while retaining BSE listing, and re-appointed Mr. Om Prakash Gupta as Independent Director for a second term of five years. The auditor (KAMG & Associates) issued a qualified conclusion, flagging that the West Bengal government resumed and took possession of the 395-acre Uttarpara factory land after the Supreme Court dismissed the company's appeal on July 16, 2025, creating material uncertainty about the company's ability to continue as a going concern. The company remains debt-free (on financial debt) and is seeking new business/technology partners.
The loss of the Uttarpara land and the auditor's qualified conclusion raise serious going-concern flags for shareholders, although net worth has turned positive and accumulated losses have been cut nearly in half since 2017. The voluntary delisting from NSE means reduced trading convenience on one exchange, but BSE listing continues with nationwide reach; investors should watch for any new business partnership announcement.