Unaudited Standalone Financial Results of the Company for the Quarter Ended December 31, 2025
Awaiting price reaction for this filing.
The board of Harig Crankshafts approved its unaudited standalone financial results for the quarter and nine months ended December 31, 2025 on February 11, 2026. The statutory auditor, M.B. Gupta & Co., issued a limited review report with a qualified conclusion, flagging that the company had not filed income tax returns from Assessment Year 2012-13 to AY 2023-24, leaving the auditor unable to verify tax compliance. The filing also reiterates the company's history: it underwent Corporate Insolvency Resolution Process (CIRP) initiated by NCLT on March 31, 2023, with a resolution plan by M/S Palika Towns LLP approved on April 17, 2024, followed by reconstitution of the board on May 17, 2024. In the preceding financial year (FY25), massive exceptional items were booked, including Rs. 10.64 crore gain from derecognition of financial liabilities, Rs. 16.44 crore PPE impairment, and Rs. 33.59 crore recognized as finance cost payable under the resolution plan. About Rs. 112.40 crore of assets were classified as held for sale with an additional impairment of Rs. 22.40 crore. Specific Q3 revenue, PAT, and EBITDA numbers were not included in the filing text shared.
Shareholders should note the qualified auditor opinion due to multi-year non-filing of income tax returns, which is a serious compliance risk and could attract tax penalties. The company's insolvency background and continued reliance on resolution plan adjustments mean earnings quality needs close scrutiny before drawing conclusions on operational recovery.