HMT Ltd FY26 results: consolidated net worth fully eroded, auditor qualifies opinion
HMT · price
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HMT Limited posted audited FY26 results. Standalone PAT rose to Rs 1,669 lakhs from Rs 1,610 lakhs last year. On a consolidated basis, the group reported a loss of Rs 13,154 lakhs with net worth fully eroded at negative Rs 2,02,667 lakhs. The company cited government support and asset sale plans as basis for going concern. Auditors issued a qualified opinion citing inventory valuation issues, unreconciled GST credits, missing physical verification of fixed assets, and unconfirmed receivables and payables. Eight emphasis of matter points were also flagged. The audit committee lacked quorum due to shortage of independent directors. Subsidiary HMT Watches was struck off in March 2026.
Group net worth fully wiped out, massive consolidated losses persist. Qualified audit opinion and going concern reference raise serious red flags for shareholders.