HINDUSTAN MOTORS LTD.

Once a passenger car manufacturer (maker of the Hindustan Ambassador), the company has had no manufacturing operations since suspending work at its Uttarpara plant in May 2014. Revenue from operations is now limited to minor scrap sales, with effectively zero operating revenue in several recent quarters. Total income of Rs. 1,226 lakh in FY26, down from Rs. 2,438 lakh in FY25, was propped up by other income, including a Rs. 361.73 lakh write-back of old municipal tax liabilities. The West Bengal government resumed and took physical possession of 395 acres of the Uttarpara factory land after the Supreme Court dismissed the company's appeal in July 2025, leading to an exceptional write-off of Rs. 835 lakh of property, plant and equipment during FY26. The statutory auditor KAMG & Associates has flagged material uncertainty about the company's ability to continue as a going concern. The company remains debt-free on financial borrowings, has reduced accumulated losses from Rs. 25,218 lakh (FY17) to Rs. 10,752 lakh (FY25), and is exploring new business or technology partners to utilise its remaining assets.