HINDUSTAN MOTORS LTD. Q1 FY27 Results

Hindustan Motors, a dormant standalone entity with no revenue from operations for the fourth consecutive comparable quarter, reported Q1 FY27 (quarter ended June 30, 2026) net profit of ₹0.22 Cr on total income of ₹0.94 Cr — the entirety of which is 'Other Income' (investment/interest-type income), since the company has no operating business. Both lines were far weaker than a year ago: total income fell 81.6% YoY from ₹5.11 Cr and PAT fell 94.7% YoY from ₹4.16 Cr, pulling net profit margin down to 23.4% from 81.4% a year earlier. EPS was ₹0.01 versus ₹0.20 in Q1 FY26. Sequentially the company swung from a ₹4.29 Cr net loss in Q4 FY26 to this quarter's profit, but that loss included an ₹8.35 Cr exceptional write-off of the Uttarpara land — excluding that one-off, Q4's underlying pre-tax profit (₹3.90 Cr) was actually higher than this quarter's ₹0.27 Cr, so the QoQ 'turnaround' is a base-effect artifact, not an operating improvement.

There is no analyst coverage or management guidance to benchmark this shell company against — vsStreet and vsGuidance are both unknown, since neither our records nor a market search turn up estimates for a company with no active business. The auditors (KAMG & Associates) issued a qualified review conclusion citing material uncertainty on going concern (Note 3), given the company has had no operations since the Uttarpara plant's 2014 work suspension and the West Bengal government's resumption of its factory land — a Supreme Court SLP against that resumption was rejected in July 2025, and the company now plans a review petition under Section 6(1)(c) of the West Bengal Estates Acquisition Act, 1953. Management's own framing in the results notes touts a reduced accumulated loss (₹10,059.45 lakhs at FY26-end vs ₹25,218.07 lakhs in FY17) and improved net worth (₹3,186.19 lakhs vs a negative ₹1,632.50 lakhs in FY23) as signs of financial stabilization, and references past-rejected proposals for data-centre/warehousing (with Hiranandani) and EV-bike (with Revolt Motors) revival plans — none of which show up in this quarter's numbers, which remain driven entirely by non-operating income. The quarter also saw CFO Mahesh Kumar Kejriwal reappointed for two years and a new Company Secretary, Moneera Anjum, appointed effective August 6, 2026, following the prior CS's May 2026 resignation.

The stock went into the print at ₹15.37, down 4.2% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.