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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
💼 Action for Investors
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.
💼 Action for Investors
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.
💼 Action for Investors
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.