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Latest filing: 2026-08-14 17:35
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HMT Q1 Cons Net Loss at ₹29.21 Cr; Total Income at ₹42.30 Cr
HMT Limited reported a consolidated net loss of ₹29.21 crore for Q1 ended June 30, 2026, compared to a net loss of ₹37.45 crore in Q4 FY26. Consolidated total income was ₹42.30 crore, up 13.5% YoY from ₹37.28 crore in Q1 FY26, but down sequentially from ₹85.76 crore. Standalone operations recorded a net profit of ₹11.81 crore, which was primarily driven by other income of ₹14.13 crore against revenue from operations of only ₹5.23 crore. Notes to the accounts highlighted that the group's net worth remains completely eroded, with going concern assumptions reliant on Government of India support and asset realisations.
Confidence: HIGH
What changedHMT approved and published its standalone and consolidated financial results for the quarter ended June 30, 2026.
Why it mattersDemonstrates persistent consolidated net losses and underlines extreme balance sheet strain given the fully eroded net worth.
Consolidated Total Income: ₹42.30 crConsolidated Net Loss: ₹29.21 crStandalone Revenue from Operations: ₹5.23 crStandalone Other Income: ₹14.13 crConsolidated EPS (Q1): ₹-0.82
📅 Short termPerformance remains subdued with continued consolidated operating losses and lack of core operational revenue growth.
📈 Long termStructural revival is entirely dependent on sovereign backing and government restructuring decisions rather than organic business expansion.
⚠ Risk flags
- Eroded group net worth
- Persistent consolidated operating losses
- Lack of audit committee quorum due to board composition vacancy
- Heavy reliance on government financial backing
Key Highlights
Consolidated net loss stood at ₹29.21 crore for Q1 compared to a loss of ₹37.45 crore in Q4 FY26
Consolidated total income reached ₹42.30 crore, improving from ₹37.28 crore in the year-ago quarter
Standalone net profit of ₹11.81 crore was supported by other income of ₹14.13 crore against operational revenue of ₹5.23 crore
The company stated that the group's net worth is completely eroded, relying on sovereign support to remain a going concern
👀 What to Watch
Monitor Government of India restructuring support, asset monetization timelines, and filling of independent director vacancies for audit committee quorum.
HMT FY26 Consolidated Loss at ₹131.54 Cr; Finance Costs Consume 48% of Revenue
HMT Limited reported a consolidated net loss of ₹131.54 Cr for FY26, a marginal improvement from the ₹143.06 Cr loss in FY25. Consolidated revenue remained stagnant at ₹142.65 Cr, while the company continues to struggle with high finance costs of ₹68.75 Cr. The consolidated net worth remains deeply negative with 'Other Equity' at -₹2,382.27 Cr. A significant corporate development was the formal striking off of the subsidiary HMT Watches Ltd by the ROC on March 2, 2026.
Confidence: HIGH
What changedHMT finalized its FY26 audited results, confirming continued heavy consolidated losses and the formal legal closure of its HMT Watches subsidiary.
Why it mattersThe results highlight the company's inability to generate operational profits, with finance costs and employee benefits far exceeding revenue, leading to a completely eroded net worth.
Consolidated Revenue (FY26): ₹142.65 CrConsolidated Net Loss (FY26): ₹131.54 CrFinance Costs vs Revenue: 48.2%Consolidated Other Equity: -₹2,382.27 CrStandalone Other Income: ₹57.91 Cr
📅 Short termThe stock is likely to face pressure as the consolidated results confirm deep financial distress and stagnant top-line growth.
📈 Long termThe company is in a structural contraction phase; long-term value depends entirely on the success of the government-led restructuring and liability discharge.
⚠ Risk flags
- Deeply negative net worth
- Modified auditor opinion
- High finance costs relative to revenue
- Heavy reliance on government support
Key Highlights
Consolidated FY26 revenue stood at ₹142.65 Cr, showing near-zero growth compared to ₹142.31 Cr in FY25.
Consolidated net loss for the year was ₹131.54 Cr, despite a standalone profit of ₹16.69 Cr which was primarily driven by Other Income.
Finance costs remained a major burden at ₹68.75 Cr, representing 48.2% of the total consolidated revenue.
Consolidated Other Equity is reported at -₹2,382.27 Cr, indicating severe and persistent capital erosion.
HMT Watches Ltd was officially struck off by the Register of Companies on March 2, 2026, as part of the restructuring plan.
👀 What to Watch
Investors should monitor the progress of the 'Revival and Financial Restructuring Plan' and the impact of the 'modified opinion' issued by statutory auditors. The company's survival remains heavily dependent on government support and the successful divestment of non-core assets.
₹16.69 Cr FY26 Standalone Profit; Core Revenue Stagnant at ₹25.96 Cr
HMT Limited reported a standalone net profit of ₹16.69 Cr for FY26, compared to ₹16.10 Cr in FY25. However, the core business remains extremely weak with Revenue from Operations at just ₹25.96 Cr, while 'Other Income' (primarily interest) of ₹57.91 Cr drove the bottom line. The company's auditors have issued a modified opinion, highlighting significant concerns regarding inventory valuation, fixed asset reconciliation, and a legal dispute involving the Karnataka Forest Department over land occupation.
Confidence: HIGH
What changedHMT has completed its FY26 audit, showing a marginal increase in annual profit despite a quarterly loss in Q4, while continuing to rely heavily on non-operating income.
Why it mattersThe core engineering business is currently negligible relative to the company's ₹2,149 Cr market cap (Revenue is ~1.2% of Market Cap), making the company's valuation highly dependent on its land assets and government support.
FY26 Standalone Revenue: ₹25.96 CrFY26 Standalone Net Profit: ₹16.69 CrOther Income: ₹57.91 CrRevenue vs Market Cap: 1.21%Interest Income: ₹35.55 Cr
📅 Short termThe stock may see volatility due to the headline annual profit, but the underlying operational weakness and auditor concerns are likely to temper any sustained rally.
📈 Long termLimited structural growth potential as the company is in a contraction phase, closing subsidiaries and focusing on liability discharge rather than market expansion.
⚠ Risk flags
- Modified auditor opinion on inventory and fixed assets
- Legal dispute over forest land occupation
- Extreme reliance on non-operating income
- Negative net worth in multiple subsidiaries
Key Highlights
FY26 Standalone Revenue from Operations remained flat at ₹25.96 Cr vs ₹26.17 Cr in FY25.
Other Income of ₹57.91 Cr accounted for 69% of total income, including ₹35.55 Cr in interest income.
Auditors issued a modified opinion citing inability to verify inventory quantities and lack of supporting documentation for margin money of ₹111.23 lakhs.
The company is facing a legal challenge from the Karnataka Forest Department regarding alleged illegal occupation of forest land at Peenya.
Q4 FY26 (three months ended March) resulted in a standalone loss of ₹3.36 Cr.
👀 What to Watch
Investors should focus on the progress of the 'Revival and Financial Restructuring Plan' and the resolution of auditor qualifications regarding asset verification. The stock remains a high-risk play on government-led restructuring rather than operational growth.
430-Acre Land Dispute: Bengaluru Forest Dept Orders HMT to Hand Over Land
HMT Limited has received an order from the Deputy Conservator of Forests, Bengaluru, to hand over 430 acres and 21.853 guntas of land. This land was originally granted by the Karnataka government and is currently in HMT's possession. The company has stated that the matter is already sub judice before the Supreme Court and it is taking legal action to protect its interests. Given HMT's low TTM revenue of •97 Cr and its strategy of divesting assets to settle •642 Cr in debt, this land parcel is a critical component of its valuation.
Confidence: HIGH
What changedThe Bengaluru Forest Department has formally ordered HMT to return a massive 430-acre land parcel, escalating a long-standing land ownership dispute.
Why it mattersHMT is in a 'Revival and Financial Restructuring' phase; its ability to settle •642 Cr in debt and other liabilities depends heavily on its land holdings in Bengaluru. Losing this acreage would severely impair its restructuring capacity.
Land Area Disputed: 430 acres 21.853 guntasTTM Revenue: •97 CrTotal Debt: •642 CrMarket Cap: •2363 Cr
📅 Short termThe stock may face downward pressure or high volatility as the market digests the risk of losing a prime real estate asset in Bengaluru.
📈 Long termThe outcome of the Supreme Court case will likely determine the company's ability to successfully execute its government-mandated revival and debt-settlement plan.
⚠ Risk flags
- Litigation risk
- Asset loss
- Regulatory intervention
- Negative net worth concerns
Key Highlights
Order involves 430 acres 21.853 guntas of land in Bengaluru.
The land was originally granted and gifted by the Government of Karnataka.
Matter is currently sub judice before the Hon’ble Supreme Court.
HMT reported a TTM loss of •96 Cr, making asset protection vital for its 'Revival Plan'.
Company is advised to appeal before the Conservator of Forest, Bengaluru (Territorial).
👀 What to Watch
Investors should monitor Supreme Court proceedings and any stay orders HMT may obtain against the Forest Department's directive, as this land is a major part of the company's asset base.
HMT Fined ₹10.62 Lakh by BSE and NSE for Board Composition Non-Compliance
HMT Limited has received notices from BSE and NSE imposing fines of ₹5,31,000 each (totaling ₹10.62 lakh) for the quarter ended March 31, 2026. The penalties are due to non-compliance with SEBI Regulation 17(1) regarding the composition of the Board of Directors, specifically the lack of requisite Independent Directors. The company, being a Government of India undertaking, has stated that director appointments are managed by the Administrative Ministry. HMT is currently in the process of applying for a waiver of these fines and has requested the government to fill the vacancies.
Key Highlights
BSE and NSE imposed a fine of ₹5,31,000 each (inclusive of GST) on HMT Limited.
Non-compliance pertains to SEBI Regulation 17(1) for the quarter ended March 31, 2026.
The board lacked the required number of Independent Directors and an Independent Woman Director.
HMT is seeking a waiver of the fines, citing that appointments are under the purview of the Government of India.
The company has formally requested the Administrative Ministry to appoint the necessary directors.
👀 What to Watch
Investors should monitor the timeline for the appointment of Independent Directors by the Government, as prolonged non-compliance can lead to further regulatory action. While the fine amount is not financially material, it highlights ongoing corporate governance challenges common in some PSU entities.
HMT Limited Announces Delay in Submission of FY26 Audited Financial Results
HMT Limited has notified the stock exchanges that it will not be able to meet the May 30, 2026, deadline for submitting its audited financial results for the quarter and year ended March 31, 2026. The company cited the ongoing process of account consolidation and audits across its various units and subsidiaries located throughout India as the reason for the delay. While the company has stated it is working to submit the results at the earliest, this delay represents a non-compliance with SEBI (LODR) Regulations. Investors typically view reporting delays as a sign of administrative inefficiency or potential internal control issues.
Key Highlights
Failed to meet the May 30, 2026, regulatory deadline for FY26 financial result submission.
Delay impacts both Standalone and Consolidated audited financial statements.
Attributed the delay to complex consolidation and audit requirements across multiple pan-India units.
The notification was issued on May 20, 2026, ten days prior to the actual deadline.
👀 What to Watch
Investors should exercise caution and monitor for the revised date of the board meeting to approve results. Any prolonged delay beyond the grace period could lead to regulatory action or trading restrictions by the exchanges.
HMT Appoints BHEL's N Ramesh Kumar as Chairman & Managing Director (Additional Charge)
HMT Limited has announced the appointment of Shri N Ramesh Kumar as Chairman & Managing Director (Additional Charge) effective March 25, 2026. Mr. Kumar currently serves as an Executive Director at BHEL and brings over 35 years of industry experience to the role. The appointment is for a period of one year or until a regular incumbent is appointed, as per the Ministry of Heavy Industries' directive. His extensive background in advanced technologies and strategic planning at BHEL may influence HMT's operational direction during his tenure.
Key Highlights
Shri N Ramesh Kumar assumes the CMD role (Additional Charge) for a 1-year term starting March 25, 2026.
The appointee is a BITS Pilani alumnus with over 35 years of experience in the engineering and electronics sectors.
His previous roles at BHEL involved significant work in Solar Power, Rail Transportation (Vande Bharat sets), and Gas Turbine Controls.
The appointment is subject to ex-post facto approval from the Appointments Committee of the Cabinet (ACC).
👀 What to Watch
Investors should monitor if this leadership change leads to any strategic collaborations between HMT and BHEL, though as an 'additional charge' appointment, major policy shifts are unlikely.
HMT Appoints BHEL's N Ramesh Kumar as CMD (Additional Charge) for One Year
HMT Limited has announced that Shri. N Ramesh Kumar, currently Executive Director at BHEL, has been appointed as the Chairman and Managing Director (Additional Charge) of the company. The appointment is effective from March 25, 2026, following an order from the Ministry of Heavy Industries. This leadership arrangement is slated for a period of one year or until a regular incumbent is appointed. The appointment is subject to final approval from the Appointment Committee of the Cabinet (ACC).
Key Highlights
Shri. N Ramesh Kumar to take additional charge as CMD effective March 25, 2026
Appointment duration is for one year or until a regular incumbent joins
Mr. Kumar is currently the Executive Director (SBD) at Bharat Heavy Electricals Limited (BHEL)
The move follows a Ministry of Heavy Industries order dated March 24, 2026
👀 What to Watch
Investors should view this as a routine leadership transition within the PSU framework and monitor for the appointment of a permanent CMD for long-term strategic clarity.
HMT Limited Announces Dissolution of Subsidiary HMT Watches Limited Effective March 2, 2026
HMT Limited has confirmed the formal striking off and dissolution of its wholly owned subsidiary, HMT Watches Limited. The process, which began with an application on January 5, 2026, was finalized by the Ministry of Corporate Affairs on March 2, 2026. This move is part of the government-backed plan to close non-viable units within the HMT group. The dissolution marks the end of a legacy brand's corporate existence under the parent company.
Key Highlights
HMT Watches Limited officially dissolved and struck off the Register of Companies on March 2, 2026
The subsidiary was a 100% wholly owned entity of HMT Limited
The dissolution was carried out under Section 248(2) of the Companies Act, 2013
Initial application for striking off was filed earlier on January 5, 2026
👀 What to Watch
No immediate action is required as the closure of the watch division was previously known. Investors should focus on the performance of HMT's remaining business segments like machine tools.
HMT Limited Discloses Delay in Payment of Fines and Dues to Authorities
HMT Limited has officially informed the stock exchanges regarding a delay or default in the payment of fines, penalties, and other statutory dues to authorities. This disclosure, dated February 28, 2026, suggests potential liquidity challenges or administrative bottlenecks within the organization. Such defaults often attract additional interest costs and could lead to further regulatory scrutiny or legal complications. Investors should be wary of the impact this may have on the company's credit profile and operational stability.
Key Highlights
HMT Limited reported a formal delay/default in settling dues and penalties to regulatory authorities.
The announcement was filed with the exchange on February 28, 2026.
The specific monetary value of the default was not disclosed in the brief notification.
Potential for increased financial burden due to late payment penalties and interest charges.
👀 What to Watch
Investors should exercise caution and monitor for further disclosures regarding the exact quantum of the default. It is advisable to review the company's debt-to-equity ratio and cash flow position before making new investment decisions.
HMT Q3 Standalone Net Profit Rises to ₹6.70 Cr; Revenue Declines to ₹5.82 Cr
HMT Limited reported a standalone net profit of ₹6.70 crore for the quarter ended December 31, 2025, a slight increase from ₹6.59 crore in the corresponding quarter of the previous year. However, core revenue from operations witnessed a decline, falling to ₹5.82 crore from ₹7.31 crore year-on-year. The company's bottom line was significantly bolstered by 'Other Income,' which contributed ₹15.03 crore to the total income. For the nine-month period ended December 2025, the company recorded a net profit of ₹20.05 crore compared to ₹17.98 crore in the previous year.
Key Highlights
Standalone Net Profit for Q3 FY26 stood at ₹6.70 crore, up from ₹6.59 crore in Q3 FY25.
Revenue from operations decreased by 20.4% YoY to ₹5.82 crore from ₹7.31 crore.
Other Income of ₹15.03 crore accounted for approximately 72% of the total income of ₹20.85 crore.
The company wrote off ₹18.07 crore as bad debt for the nine-month period regarding interest on loans to subsidiary HMT Machine Tools Ltd.
9M FY26 standalone net profit improved to ₹20.05 crore from ₹17.98 crore in the prior year period.
👀 What to Watch
Investors should remain cautious as the company's profitability is heavily dependent on non-operational 'Other Income' rather than core business growth. Monitor the consolidated results to understand the full impact of subsidiary performance and the significant bad debt write-offs.
