Hindusthan National Glass & Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
Awaiting price reaction for this filing.
Hindusthan National Glass & Industries (HNGIL) reported weak Q1FY26 results while remaining under the Corporate Insolvency Resolution Process (CIRP) since October 2021. Revenue from operations fell sharply to Rs. 41,172 lakhs, down about 25.6% from Rs. 55,361 lakhs in Q1FY25. Profit after tax collapsed to just Rs. 213.42 lakhs (from Rs. 4,649 lakhs a year ago), with EPS of Rs. 0.24 versus Rs. 5.19. The company is operating only 4 of its 13 furnaces, and net worth is deeply negative (other equity of Rs. (82,285) lakhs) with debt of around Rs. 22,637 crores. The INSCO resolution plan, approved by the Committee of Creditors with 96.16% voting, has been filed with NCLT Kolkata and order is reserved. The joint auditors (Lodha & Co LLP and JKVS & Co) flagged multiple qualifications, including a doubt on the going concern assumption given accumulated losses, eroded net worth, and 9 of 13 furnaces being non-operational.
The stock remains a high-risk, event-driven play. With the INSCO resolution plan awaiting NCLT approval, existing equity shareholders face significant uncertainty, and any revival in value depends on the final resolution plan terms. Continued operational shrinkage, negative net worth, and unresolved creditor reconciliations suggest limited near-term price support.