TECHPRECISION CORP

TECHPRECISION CORP's auditors have expressed substantial doubt about the company's ability to continue as a going concern due to non-compliance with financial covenants in its loan agreement as of March 31, 2026. The company reported total revenue of $31.6 million in fiscal 2026, a decrease from $34.0 million in fiscal 2025, with a significant concentration in defense customers. While backlog increased to $52.2 million, the company faces risks from potential lender actions and its dependence on a limited number of customers.

TechPrecision Corporation reported its financial results for the fourth quarter and fiscal year ended March 31, 2026. For the full fiscal year 2026, the company achieved a 300 basis point expansion in consolidated gross margin and a 15% increase in gross profit to $5.0 million, with net loss improving by 41% to $1.6 million, driven by strategic project mix changes. However, Q4 2026 saw a 15% decrease in revenue to $8.1 million and a net loss of $0.4 million. The company provided positive guidance for fiscal year 2027, projecting revenue growth of 10% to $35.0-$37.0 million and EBITDA growth of 80% to $3.0-$4.0 million, supported by a funded backlog of $52.1 million.

TechPrecision Corporation's subsidiary, Ranor, and its affiliates, entered into an amendment with Beacon Bank & Trust to extend the maturity date of their $4.5 million revolving line of credit loan from May 15, 2026, to September 15, 2026. The amendment introduces new covenants requiring the Borrowers to provide a refinancing term sheet by July 31, 2026, or face asset examinations and collateral appraisals. Additionally, a $15,000 fee will be imposed if obligations remain outstanding after the new maturity date, with nonpayment constituting an event of default.