Results-Financial Results for the Quarter and Half Year Ended on September 30, 2025.
Awaiting price reaction for this filing.
Harig Crankshafts reported zero revenue from operations for both Q2 FY26 and H1 FY26, as the company currently has no business activity. Total expenses stood at Rs. 1.84 crore for the quarter and Rs. 4.07 crore for the half year, leading to a net loss of Rs. 1.84 crore (Q2) and Rs. 4.07 crore (H1), translating to a loss per share of Rs. 3.87 for the half year. The balance sheet shows deeply negative other equity of Rs. -75.99 crore, total borrowings of Rs. 74.02 crore (non-current), and only Rs. 0.13 crore in cash. The statutory auditor M B Gupta & Co. issued a qualified conclusion, flagging that the company has not filed income tax returns from AY 2012-13 to AY 2023-24. The company emerged from NCLT insolvency proceedings in April 2024 under a resolution plan by M/s Palika Towns LLP, and management has prepared results on a going-concern basis despite continuing losses and negative net worth.
This is a high-risk stock: the company remains non-operational with no revenue, keeps burning cash, carries a negative net worth and is heavily indebted. The qualified audit report over multi-year non-filing of tax returns adds further governance red flags. Shareholders should expect continued price weakness unless operations restart and the resolution plan delivers tangible business revival.