| Scrip Code | 500191 |
|---|---|
| NSE Symbol | HMT |
| MSEI Symbol | NOTLISTED |
| ISIN | INE262A01018 |
| Name of company | HMT LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 27-07-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 22-07-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Fourth quarter |
| Nature of report standalone or consolidated | Consolidated |
| Whether results are audited or unaudited for the quarter ended | Audited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Audited |
| Segment Reporting | Multi segment |
| Description of single segment | |
| Start date and time of board meeting | 27-07-2026 15:00:00 |
| End date and time of board meeting | 27-07-2026 16:30:00 |
| Whether cash flow statement is applicable on company | Yes |
| Type of cash flow statement | Cash Flow Indirect |
| Declaration of unmodified opinion or statement on impact of audit qualification | Statement on impact of audit qualification |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-01-2026 | 01-04-2025 |
| B | Date of end of reporting period | 31-03-2026 | 31-03-2026 |
| C | Whether results are audited or unaudited | Audited | Audited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 7,144.00 | 14,265.00 | |
| Other income | 1,432.00 | 5,845.00 | |
| Total income | 8,576.00 | 20,110.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 1,240.00 | 3,859.00 |
| (b) | Purchases of stock-in-trade | 4,201.00 | 4,411.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 221.00 | 741.00 |
| (d) | Employee benefit expense | 1,076.00 | 5,642.00 |
| (e) | Finance costs | 1,747.00 | 6,875.00 |
| (f) | Depreciation, depletion and amortisation expense | 146.00 | 676.00 |
| (f) | Other Expenses | ||
| 1 | Other Expenses | 3,430.00 | 10,800.00 |
| Total other expenses | 3,430.00 | 10,800.00 | |
| Total expenses | 12,061.00 | 33,004.00 | |
| 3 | Total profit before exceptional items and tax | (3,485.00) | (12,894.00) |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | (3,485.00) | (12,894.00) |
| 6 | Tax expense | ||
| 7 | Current tax | 259.00 | 259.00 |
| 8 | Deferred tax | 0.00 | 0.00 |
| 9 | Total tax expenses | 259.00 | 259.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | (3,744.00) | (13,153.00) |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | (1.00) | (1.00) |
| 16 | Total profit (loss) for period | (3,745.00) | (13,154.00) |
| 17 | Other comprehensive income net of taxes | 514.00 | 277.00 |
| 18 | Total Comprehensive Income for the period | (3,231.00) | (12,877.00) |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | (3,745.00) | (13,154.00) | |
| Total profit or loss, attributable to non-controlling interests | 0.00 | 0.00 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 514.00 | 277.00 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 0.00 | 0.00 | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 35,560.00 | 35,560.00 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | 0.00 | |
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | -1.05 | -3.7 | |
| Diluted earnings (loss) per share from continuing operations | -1.05 | -3.7 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | -1.05 | -3.7 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | -1.05 | -3.7 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | Note for Consolidated Financial Results: 1 The above statement of audited consolidated financial results of HMT Limited, which have been prepared in accordance with the Indian Accounting Standards (“Ind AS”) prescribed under section 133 of the Companies Act, 2013 (“the Act”) read with relevant rules issed thereunder, other accounting principles generally accepted in India and guidelines issued by the Securities and Exchange Board of India (“SEBI”) were reviewed. It may be noted that since currently there is one Independent Director on the Board of HMT Limited, the meeting of Board Level Audit Committee cannot be held due to lack of quorum. Accordingly, the results were directly placed in the Board Meeting held on July 27, 2026 were reviewed and approved by the Board of Directors in this meeting. 2 Networth of the HMT Group has been completely eroded. Considering the realisable value of the non-current assets held for sale, support from Government of India and other business plans, the Company has prepared its financial statements on going concern basis and accordingly, no adjustments are considered necessary to the carrying value of its assets and liabilities. 3 The Statutory Auditors have carried out an audit of the above results for the year ended March 31, 2026 and have issued a modified opinion on the same. A statement showing the impact of audit qualifications is being filed separately. 4 As per the CCEA Approval, the operations of the Subsidiary Company i.e. HMT Watches Ltd were closed and the results were disclosing under discontinued operations. During the year, the Company has been struck off by the Register of Companies u/s 248 of the Companies Act, 2013, on 2nd March 2026. 5 The Government of India has notified the four Labour Codes, collectively referred to as the New Labour Code on 21st�November 2025. The consequential effects covering the employee benefit obligations and related provisions, have been duly recognised based on the “guidance on the new labour codes” issued by the Institute of Chartered Accountants of India, in the Statement of Profit and Loss for the year ended and the Balance Sheet as at 31st March 2026. 6 The figures for the fourth quarter (ending March 31, 2026) are the derived balancing figures between the audited figures in respect of the full financial year and the published unaudited year-to-date figures up to the third quarter of the current financial year. Also, the figures up to the end of the third quarter were only reviewed by an independent Chartered Accountant and not subjected to audit. 7 Figures of previous period / year's have been regrouped wherever necessary to conform with current period/ year's figures. * Subject to C&AG Review Note 1. The above is an extract of the detailed format of Quarterly and Yearly Financial Results filed with the Stock Exchanges under regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The full format of Quarterly and yearly Financial Results are available on the website of Stock Exchange i.e. www.nseindia.com and www.bseindia.com and on the Company’s website www.hmtindia.com 2. Figures of previous year have been regrouped wherever necessary *Subject to C&AG Review |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | Year ended (dd-mm-yyyy) | |
|---|---|---|
| Date of start of reporting period | 01-04-2025 | |
| Date of end of reporting period | 31-03-2026 | |
| Whether results are audited or unaudited | Audited | |
| Nature of report standalone or consolidated | Consolidated | |
| Assets | ||
| 1 | Non-current assets | |
| Property, plant and equipment | 2,038.00 | |
| Capital work-in-progress | 210.00 | |
| Investment property | 965.00 | |
| Goodwill | 0.00 | |
| Other intangible assets | 0.00 | |
| Intangible assets under development | 0.00 | |
| Biological assets other than bearer plants | 0.00 | |
| Investments accounted for using equity method | 0.00 | |
| Non-current financial assets | ||
| Non-current investments | 17.00 | |
| Trade receivables, non-current | 0.00 | |
| Loans, non-current | 0.00 | |
| Other non-current financial assets | ||
| 1 | Other Financial Assets | 425.00 |
| 2 | Other Non Current Assets | 385.00 |
| Total of other non-current financial assets | 810.00 | |
| Total non-current financial assets | 827.00 | |
| Deferred tax assets (net) | ||
| Other non-current assets | ||
| Total of other non-current assets | ||
| Total non-current assets | 4,040.00 | |
| 2 | Current assets | |
| Inventories | 8,661.00 | |
| Current financial asset | ||
| Current investments | 0.00 | |
| Trade receivables, current | 9,324.00 | |
| Cash and cash equivalents | 4,605.00 | |
| Bank balance other than cash and cash equivalents | 21,592.00 | |
| Loans, current | 0.00 | |
| Other current financial assets | ||
| Total of other current financial assets | 489.00 | |
| Total current financial assets | 36,010.00 | |
| Current tax assets (net) | 946.00 | |
| Other current assets | ||
| 1 | Other current assets | 3,610.00 |
| Total of other current assets | 3,610.00 | |
| Total current assets | 49,227.00 | |
| 3 | Non-current assets classified as held for sale | 296.00 |
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | 0.00 |
| Total assets | 53,563.00 | |
| Equity and liabilities | ||
| 1 | Equity | |
| Equity attributable to owners of parent | ||
| Equity share capital | 35,560.00 | |
| Other equity | (2,38,227.00) | |
| Total equity attributable to owners of parent | (2,02,667.00) | |
| Non controlling interest | 0.00 | |
| Total equity | (2,02,667.00) | |
| 2 | Liabilities | |
| Non-current liabilities | ||
| Non-current financial liabilities | ||
| Borrowings, non-current | 0.00 | |
| Trade payables, non-current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 0.00 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 0.00 | |
| Total Trade payable | 0.00 | |
| Other non-current financial liabilities | ||
| 1 | Other non-current financial liabilities | 10,004.00 |
| Total of other non-current financial liabilities | 10,004.00 | |
| Total non-current financial liabilities | 10,004.00 | |
| Provisions, non-current | 2,977.00 | |
| Deferred tax liabilities (net) | (21.00) | |
| Deferred government grants, Non-current | 0.00 | |
| Other non-current liabilities | ||
| Total of other non-current liabilities | ||
| Total non-current liabilities | 12,960.00 | |
| Current liabilities | ||
| Current financial liabilities | ||
| Borrowings, current | 1,03,333.00 | |
| Trade payables, current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 851.00 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 11,071.00 | |
| Total Trade payable | 11,922.00 | |
| Other current financial liabilities | ||
| 1 | Other current financial liabilities | 69,642.00 |
| Total of other current financial liabilities | 69,642.00 | |
| Total current financial liabilities | 1,84,897.00 | |
| Other current liabilities | 56,164.00 | |
| 1 | Other current liabilities | 56,164.00 |
| Total of other current liabilities | 56,164.00 | |
| Provisions, current | 2,161.00 | |
| Current tax liabilities (Net) | 48.00 | |
| Deferred government grants, Current | 0.00 | |
| Total current liabilities | 2,43,270.00 | |
| 3 | Liabilities directly associated with assets in disposal group classified as held for sale | |
| 4 | Regulatory deferral account credit balances and related deferred tax liability | |
| Total liabilities | 2,56,230.00 | |
| Total equity and liabilites | 53,563.00 | |
| Disclosure of notes on assets and liabilities | ||
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-01-2026 | 01-04-2025 | |||||
| Date of end of reporting period | 31-03-2026 | 31-03-2026 | |||||
| Whether results are audited or unaudited | Audited | Audited | |||||
| Nature of report standalone or consolidated | Consolidated | Consolidated | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| 1 | Food Processing Machinery | 0.00264 | 0.00892 | ||||
| 2 | Machine Tools | 2,035.00 | 7,055.00 | ||||
| 3 | Projects | 4,317.00 | 4,643.00 | ||||
| 4 | Others (including Watch Assembly etc) | 0.00538 | 1,704.00 | ||||
| Total Segment Revenue | 7,154.00 | 14,294.00 | |||||
| Less: Inter segment revenue | 10.00 | 29.00 | |||||
| Revenue from operations | 7,144.00 | 14,265.00 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | Food Processing Machinery | 110.00 | 51.00 | ||||
| 2 | Machine Tools | (1,616.00) | (7,989.00) | ||||
| 3 | Projects | 41.00 | 124.00 | ||||
| 4 | Others (including Watch Assembly etc) | (274.00) | 1,794.00 | ||||
| Total Profit before tax | (1,739.00) | (6,020.00) | |||||
| i. Finance cost | 1,747.00 | 6,875.00 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | (3,486.00) | (12,895.00) | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | Food Processing Machinery | 1,508.00 | 1,508.00 | ||||
| 2 | Machine Tools | 23,117.00 | 23,117.00 | ||||
| 3 | Projects | 9,893.00 | 9,893.00 | ||||
| 4 | Others (including Watch Assembly etc) | 20,828.00 | 20,828.00 | ||||
| Total Segment Asset | 55,346.00 | 55,346.00 | |||||
| Un-allocable Assets | (1,783.00) | (1,783.00) | |||||
| Net Segment Asset | 53,563.00 | 53,563.00 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | Food Processing Machinery | 813.00 | 813.00 | ||||
| 2 | Machine Tools | 60,267.00 | 60,267.00 | ||||
| 3 | Projects | 5,846.00 | 5,846.00 | ||||
| 4 | Others (including Watch Assembly etc) | 18,115.00 | 18,115.00 | ||||
| Total Segment Liabilities | 85,041.00 | 85,041.00 | |||||
| Un-allocable Liabilities | 1,71,189.00 | 1,71,189.00 | |||||
| Net Segment Liabilities | 2,56,230.00 | 2,56,230.00 | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-01-2026 | 01-04-2025 |
| B | Date of end of reporting period | 31-03-2026 | 31-03-2026 |
| C | Whether results are audited or unaudited | Audited | Audited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Amount of items that will not be reclassified to profit and loss | 507.00 | 270.00 |
| Total Amount of items that will not be reclassified to profit and loss | 507.00 | 270.00 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | (7.00) | (7.00) |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | ||
| 5 | Total Other comprehensive income | 514.00 | 277.00 |
| Particulars | Year ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|
| A | Date of start of reporting period | 01-04-2025 | ||||
| B | Date of end of reporting period | 31-03-2026 | ||||
| C | Whether results are audited or unaudited | Audited | ||||
| D | Nature of report standalone or consolidated | Consolidated | ||||
| Statement of cash flows | ||||||
| Cash flows from used in operating activities | ||||||
| Profit before tax | (12,894.00) | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 6,875.00 | |||||
| Adjustments for decrease (increase) in inventories | 918.00 | |||||
| Adjustments for decrease (increase) in trade receivables, current | 1,453.00 | |||||
| Adjustments for decrease (increase) in trade receivables, non-current | 0.00 | |||||
| Adjustments for decrease (increase) in other current assets | 0.00 | |||||
| Adjustments for decrease (increase) in other non-current assets | 0.00 | |||||
| Adjustments for other financial assets, non-current | 0.00 | |||||
| Adjustments for other financial assets, current | 0.00 | |||||
| Adjustments for other bank balances | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, current | 7,981.00 | |||||
| Adjustments for increase (decrease) in trade payables, non-current | 0.00 | |||||
| Adjustments for increase (decrease) in other current liabilities | 0.00 | |||||
| Adjustments for increase (decrease) in other non-current liabilities | 0.00 | |||||
| Adjustments for depreciation and amortisation expense | 676.00 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |||||
| Adjustments for provisions, current | 1,224.00 | |||||
| Adjustments for provisions, non-current | 0.00 | |||||
| Adjustments for other financial liabilities, current | 0.00 | |||||
| Adjustments for other financial liabilities, non-current | 0.00 | |||||
| Adjustments for unrealised foreign exchange losses gains | 0.00 | |||||
| Adjustments for dividend income | 0.00 | |||||
| Adjustments for interest income | 1,514.00 | |||||
| Adjustments for share-based payments | 0.00 | |||||
| Adjustments for fair value losses (gains) | 0.00 | |||||
| Adjustments for undistributed profits of associates | 0.00 | |||||
| Other adjustments for which cash effects are investing or financing cash flow | 0.00 | |||||
| Other adjustments to reconcile profit (loss) | (52.00) | |||||
| Other adjustments for non-cash items | 0.00 | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Total adjustments for reconcile profit (loss) | 17,561.00 | |||||
| Net cash flows from (used in) operations | 4,667.00 | |||||
| Dividends received | 0.00 | |||||
| Interest paid | 0.00 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | 272.00 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) operating activities | 4,395.00 | |||||
| Cash flows from used in investing activities | ||||||
| Cash flows from losing control of subsidiaries or other businesses | 0.00 | |||||
| Cash flows used in obtaining control of subsidiaries or other businesses | 0.00 | |||||
| Other cash receipts from sales of equity or debt instruments of other entities | 0.00 | |||||
| Other cash payments to acquire equity or debt instruments of other entities | 0.00 | |||||
| Other cash receipts from sales of interests in joint ventures | 0.00 | |||||
| Other cash payments to acquire interests in joint ventures | 0.00 | |||||
| Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Cash payment for investment in partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Proceeds from sales of property, plant and equipment | 52.00 | |||||
| Purchase of property, plant and equipment | 50.00 | |||||
| Proceeds from sales of investment property | 0.00 | |||||
| Purchase of investment property | 0.00 | |||||
| Proceeds from sales of intangible assets | 0.00 | |||||
| Purchase of intangible assets | 0.00 | |||||
| Proceeds from sales of intangible assets under development | 0.00 | |||||
| Purchase of intangible assets under development | 0.00 | |||||
| Proceeds from sales of goodwill | 0.00 | |||||
| Purchase of goodwill | 0.00 | |||||
| Proceeds from biological assets other than bearer plants | 0.00 | |||||
| Purchase of biological assets other than bearer plants | 0.00 | |||||
| Proceeds from government grants | 0.00 | |||||
| Proceeds from sales of other long-term assets | 0.00 | |||||
| Purchase of other long-term assets | 0.00 | |||||
| Cash advances and loans made to other parties | 0.00 | |||||
| Cash receipts from repayment of advances and loans made to other parties | 0.00 | |||||
| Cash payments for future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Cash receipts from future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Dividends received | 1,473.00 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (1,478.00) | |||||
| Net cash flows from (used in) investing activities | (3.00) | |||||
| Cash flows from used in financing activities | ||||||
| Proceeds from changes in ownership interests in subsidiaries | 0.00 | |||||
| Payments from changes in ownership interests in subsidiaries | 0.00 | |||||
| Proceeds from issuing shares | 0.00 | |||||
| Proceeds from issuing other equity instruments | 0.00 | |||||
| Payments to acquire or redeem entity's shares | 0.00 | |||||
| Payments of other equity instruments | 0.00 | |||||
| Proceeds from exercise of stock options | 0.00 | |||||
| Proceeds from issuing debentures notes bonds etc | 0.00 | |||||
| Proceeds from borrowings | 416.00 | |||||
| Repayments of borrowings | 0.00 | |||||
| Payments of lease liabilities | 0.00 | |||||
| Dividends paid | 0.00 | |||||
| Interest paid | 701.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) financing activities | (285.00) | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | 4,107.00 | |||||
| Effect of exchange rate changes on cash and cash equivalents | ||||||
| Effect of exchange rate changes on cash and cash equivalents | 0.00 | |||||
| Net increase (decrease) in cash and cash equivalents | 4,107.00 | |||||
| Cash and cash equivalents cash flow statement at beginning of period | 498.00 | |||||
| Cash and cash equivalents cash flow statement at end of period | 4,605.00 | |||||
| Whether results are audited or unaudited | Audited |
|---|---|
| Declaration of unmodified opinion or statement on impact of audit qualification | Statement on impact of audit qualification |
| Auditor's opinion | Qualified opinion |
| Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results |
| Sr No. | Audit firm's name | Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI | Certificate valid upto | ||
| 1 | M/s G R S M & Associates | Yes | 31-05-2027 | ||
|---|---|---|---|---|---|
| Sr. | Particulars | Audited Figures (as reported before adjusting for qualifications) | Adjusted Figures (audited figures after adjusting for qualifications) |
|---|---|---|---|
| 1 | Turnover / Total income | 20,109.77 | 20,109.77 |
| 2 | Total Expenditure | 33,003.75 | 33,003.75 |
| 3 | Net Profit/(Loss) | (12,876.83) | (12,876.83) |
| 4 | Earnings Per Share | -3.7 | -3.7 |
| 5 | Total Assets | 53,563.50 | 53,563.50 |
| 6 | Total Liabilities | 2,56,230.14 | 2,56,230.14 |
| 7 | Net Worth | (2,02,666.64) | (2,02,666.64) |
| Sr. | Details of Audit Qualification | Type of Audit Qualification | Frequency of qualification | For Audit Qualification(s) where the impact is quantified by the auditor | For Audit Qualification(s) where the impact is not quantified by the auditor | ||
|---|---|---|---|---|---|---|---|
| Management's Views | (i) Management's estimation on the impact of audit qualification | (ii) If management is unable to estimate the impact, reasons for the same | Auditors' Comments on (i) or (ii) above | ||||
| 1 | Textual Information(1) | Qualified opinion | Repetitive | Textual Information(2) | Textual Information(3) | Textual Information(4) | Textual Information(5) |
| 2 | Textual Information(6) | Qualified opinion | Repetitive | Textual Information(7) | Textual Information(8) | Textual Information(9) | Textual Information(10) |
| 3 | Textual Information(11) | Qualified opinion | Repetitive | Textual Information(12) | Textual Information(13) | Textual Information(14) | Textual Information(15) |
| 4 | Textual Information(16) | Qualified opinion | Repetitive | Textual Information(17) | Textual Information(18) | Textual Information(19) | Textual Information(20) |
| 5 | Textual Information(21) | Qualified opinion | Repetitive | Textual Information(22) | Textual Information(23) | Textual Information(24) | Textual Information(25) |
| 6 | Textual Information(26) | Qualified opinion | Repetitive | Textual Information(27) | Textual Information(28) | Textual Information(29) | Textual Information(30) |
| 7 | Textual Information(31) | Qualified opinion | Repetitive | Textual Information(32) | Textual Information(33) | Textual Information(34) | Textual Information(35) |
| 8 | Textual Information(36) | Qualified opinion | Whether appeared first time | Textual Information(37) | Textual Information(38) | Textual Information(39) | Textual Information(40) |
| 9 | Textual Information(41) | Disclaimer of opinion | Whether appeared first time | Textual Information(42) | Textual Information(43) | Textual Information(44) | Textual Information(45) |
| Textual Information(1) | Common Qualifications (Group-Level Issues): 1. Non-Compliance with Ind AS 109 – Expected Credit Loss Model: Ind AS 109 requires the application of an Expected Credit Loss (ECL) model for the recognition and measurement of impairment on financial assets. However, based on the information and explanations provided to us, the Group has not prepared an ECL matrix or carried out any impairment assessment under this model during the audit period. Consequently, we were unable to assess the adequacy of any allowance loss that may be required. |
|---|---|
| Textual Information(2) | The Group has recognised provision towards impairment of financial assets based on assessment of recoverability, ageing of receivables, past recovery experience and other relevant factors. The observation regarding preparation of a formal ECL matrix and supporting documentation has been noted, and the Group will further strengthen the ECL assessment process in line with the requirements of Ind AS 109 in subsequent reporting periods. |
| Textual Information(3) | NO |
| Textual Information(4) | NA |
| Textual Information(5) | NO |
| Textual Information(6) | 2. Lack of External Confirmations for Party Balances: The Group has not obtained external confirmations in respect of trade receivables, trade payables, other current assets, and other current liabilities. In the absence of such confirmations and alternative audit procedures, we were unable to obtain sufficient appropriate audit evidence to verify the existence, completeness, and accuracy of these balances. Accordingly, we are unable to determine whether any adjustments may be necessary in respect of these items. |
| Textual Information(7) | Trade receivables, trade payables, other current assets and other current liabilities are accounted for based on the books of account and are periodically reviewed by the Unit. Certain old outstanding balances are under review and necessary action, including write-off wherever considered appropriate after due approval, will be taken. Balance confirmations could not be obtained in all cases due to operational constraints; however, the Unit will continue to strengthen reconciliation, documentation and periodic review of these balances. |
| Textual Information(8) | NO |
| Textual Information(9) | NA |
| Textual Information(10) | NO |
| Textual Information(11) | 3. Non-Compliance with Ind AS 2 – Valuation of Inventories: At several locations, inventories have not been valued strictly in accordance with the Group’s stated accounting policy, which is required to be in compliance with Ind AS 2 and also inadequate physical verifications. Due to the absence of reliable alternative procedures, we are unable to ascertain the extent of any potential misstatement in the value of inventories and its consequent impact on the financial statements |
| Textual Information(12) | The Unit is presently operating at a significantly lower level than its normal production capacity due to business and operational constraints. At the current level of manpower, the fixed production overheads allocated based on normal capacity result in a higher factory cost. Consequently, the computed factory cost exceeds the Net Realisable Value (NRV). The valuation has been carried out in accordance with the applicable accounting policy, considering the lower of cost and NRV, and therefore no further adjustment is considered necessary. |
| Textual Information(13) | NO |
| Textual Information(14) | NA |
| Textual Information(15) | NO |
| Textual Information(16) | 4. Unreconciled Input Tax Credit under GST Law: Most units of the Group are in the process of reconciling the input tax credit as recorded in the books with the balances available on the GST portal, for both the current and prior periods. The reconciliation process is incomplete as at the reporting date, and adjustment entries for reversals or corrections, if any, have not yet been accounted for. In the absence of a completed reconciliation, we are unable to assess the impact of any potential overstatement of input tax credit or its implications on the Group’s financial position and results. |
| Textual Information(17) | The Unit has filed the prescribed GST returns in Form GSTR-1 and Form GSTR-3B based on the books of accounts and has availed Input Tax Credit (ITC) only on eligible tax invoices in accordance with the provisions of the Central Goods and Services Tax Act, 2017. Reconciliation of ITC as per GSTR-2B with the books is a continuous process, as GSTR-2B is dependent on timely filing and subsequent amendments made by suppliers in their GST returns. Accordingly, complete reconciliation for all transactions as of the reporting date may not always be feasible. The Unit carries out periodic reviews of significant ITC balances, follows up with vendors for rectification of mismatches wherever identified, and accounts for material differences, if any, upon completion of reconciliation. Based on the records available and the controls exercised, the management believes that there is no material impact on the financial statements on account of unreconciled ITC balances. |
| Textual Information(18) | NO |
| Textual Information(19) | NA |
| Textual Information(20) | NO |
| Textual Information(21) | 5. Audit of HMT Machine Tools Limited (“MTL”) a) Delay in remitting the Statutory Dues: At several units of this subsidiary, there have been a general delay in remitting the statutory dues including PF, Gratuity, GST and TDS/TCS etc. While such delays may attract interest and penalties, no provision has been made in the financial statements on this account, and the potential impact has not been quantified. In the absence of such quantification, we are unable to determine whether any adjustments are required in this regard. b) Loss sustained by PF Trust: The Company is obligated to compensate the loss sustained by the PF Trusts at its various units. However, in view of the non-completion of the accounting/ financial position of the PF Trusts for the year ended 31-3-2026, provision has been made on a provisional basis. If the actual loss varies, it will impact the results of the Company for the year. Accordingly, we are unable to determine whether any adjustments may be necessary in respect of these items. c) Non-Compliance with Micro Small and Medium Enterprises Act, 2006: The Holding Company and its subsidiaries have not complied with the provisions of the Micro, Small and Medium Enterprises Development Act, 2006 ('MSMED Act') in respect of dues to micro and small enterprises. The non-compliances observed across the Parent and these units include: (a) delay in payment to MSME vendors beyond the stipulated period without payment of the mandatory interest thereon; (b) computation of interest based on a minimum credit period (e.g., 45 days) exceeding the contractually agreed terms (e.g., 30 days); and (c) provision for interest on a simple interest basis instead of compound interest at three times the bank rate notified by the RBI on a monthly rest basis, as mandated under the MSMED Act, resulting in an understatement of Current Financial Liabilities and Net Loss for the year. Due to the absence of accurate and complete records, we are unable to ascertain the extent of impact on the financial statements. |
| Textual Information(22) | a) Noted, all efforts will be made to ensure statutory compliance. However, the Company is facing severe financial constraints due to lack of working capital. Interest and penalties are accounted for as and when the payment is made. b) Noted, as the PF trust accounts for the FY 2025-26 are not finalized. The necessary provision has been considered on a provisional basis. The Company regularly accounts for the actual losses, if any, during the next financial year. All efforts will be made to finalize the PF Trust Accounts before the completion of the Company’s accounts in future. c) Noted, Payment to Vendors is delayed due to severe financial constraints faced by the unit. Terms and conditions for making payment may vary according to the Supplier. For MSME supplier, unit has provided interest for payment beyond 45 days and paid as per PO. |
| Textual Information(23) | NO |
| Textual Information(24) | NA |
| Textual Information(25) | NO |
| Textual Information(26) | 6. Audit of HMT Machine Tools Limited (“MTL”) - MTA, Ajmer a) The Unit has defaulted in the settlement/payment of gratuity amounting to Rs. 302.07 lakhs in respect of employees who retired or separated from service. Additionally, no provision has been made towards interest for delayed payment of gratuity, which is not in compliance with the requirements of Ind AS 19 – Employee Benefits. b) The Unit has not reversed the GST input tax credit in respect of supplies and services for which payment has been outstanding for more than 180 days as of March 31, 2026, amounting to Rs.5.78 lakhs. This is not in accordance with the provisions of the GST law, and consequently, the input tax credit receivable and liabilities are overstated to that extent. |
| Textual Information(27) | a) Due to severe financial crunch, the unit is not in a position to make the gratuity payment at the time of retirement. Many employees are approaching ALC for the delayed Gratuity payment along with interest. Based on the ALC order, the company is making provision for interest for those employees. b) GST ITC reversal is carried out only for those invoices where the payment remains completely outstanding. Such reversals are made on a timely basis in accordance with the applicable provisions of GST Act that is 180 days for fully unpaid invoices. |
| Textual Information(28) | NO |
| Textual Information(29) | NA |
| Textual Information(30) | NO |
| Textual Information(31) | 7. Audit of HMT Machine Tools Limited (“MTL”) - MTK - Kalamassery a) The Unit has disclosed a claim recoverable of Rs. 199.92 lakhs as at March 31, 2026, which has remained outstanding for several years with no movement during the year. No supporting documentation, external confirmations, or correspondence was provided to substantiate the validity or recoverability of the amount. Further, no assessment has been made in accordance with the requirements of Ind AS 109 – Financial Instruments to determine any impairment loss, if applicable. b) The Unit has provided certain infrastructure facilities—such as electricity, water, and land—to an external party operating a hotel business. However, no rental income has been recognized in respect of the use of such facilities. Moreover, the electricity and water charges incurred by the hotel have been paid by the Company and incorrectly classified under "Employee Benefit Expenses" in the financial statements. In our opinion, the non-recognition of income and the misclassification of expenditure is not in compliance with the applicable financial reporting framework. Due to the absence of adequate records, we are unable to quantify the financial impact of this matter. c) As per the audit report of the Unit, the electricity bill issued by the Kerala State Electricity Board (KSEB) reflects an outstanding payable of Rs.950.43 lakhs as at March 31, 2026. However, the Company has recognised only Rs.623.13 lakhs towards this liability in its books. The balance amount of Rs.327.30 lakhs has neither been acknowledged nor provided for, and no formal dispute or legal action has been initiated by the Company against the demand. In the absence of any documentation to support that the liability is disputed, we are of the view that the unrecorded amount ought to have been recognised as a provision in accordance with the applicable financial reporting framework. d) As per the audit report of the Unit, a demand for municipal tax arrears of Rs.116.12 lakhs was received and provision has been made only for Rs.57.49 lakhs. The balance of Rs.58.63 lakhs has not been provided for, but only disclosed as a contingent liability. e) The Unit has not remitted Provident Fund contributions payable, Loan Recovery Payable and Voluntary Provident Fund Payable to the Provident Fund Trust on a regular basis from April 2024 onwards. As at March 31 2026, an amount of 290.78 lakhs remains outstanding and payable to the Trust. Although the unit remitted contributions pertaining to certain months, namely October 2024 (part payment), December 2024 (part payment), January 2025 and February 2025, the balance contributions due for the remaining periods have not been transferred. (First Time) f) As per the audit report of the Unit, there is no adequate system for identifying, quantifying and accounting for liquidated damages payable to customers under the terms of outward supply contracts/work orders. On random verification of selected documents, liquidated damages aggregating to Rs.87.02 lakhs were payable by the unit to customers as per the relevant contractual terms. However, the unit has not accounted for the said liability/provision in the books of account. Consequently, liabilities are understated and loss for the year is understated to the extent of Rs.87.02 lakhs. Further, in the absence of a comprehensive contract-wise assessment of liquidated damages payable to customers, the possible additional impact on the financial statements is presently unascertainable. (First Time) g) As per the terms of certain contracts for supply of CNC machines, the supply of material and installation and successful commissioning of the equipment are separate performance obligations in accordance with Ind AS 115, Revenue from Contracts with Customers. The payment terms also provide that a portion of the contract consideration is payable only upon successful installation and commissioning of the machines. However, the MTK Unit has recognized the full revenue on delivery of the machines, although installation and commissioning had not been completed in four cases as at the reporting date. We are of the opinion that revenue should have been recognized only to the extent of performance obligations completed. Accordingly, revenue has been overstated to that extent. Commissioning charges are not separately identifiable and hence the financial impact is presently unascertainable. (First Time) |
| Textual Information(32) | a) As per our company’s policy outstanding more 5 years are reviewed and provided. This will be reviewed and necessary provisions will be created in the FY 26-27 b) The Company does not have a direct agreement with the individual operating the hotel business, instead, the arrangement was established through a clear understanding and agreement with the Agricultural Cooperative Society. Under this agreement, the society was responsible for collecting and remitting rent, electricity charges, and water charges to HMT Machine Tools Limited. The Agricultural Cooperative Society has failed to fulfil its obligation. The Company has already initiated the formal procedure to seek full reimbursement of all outstanding electricity and water charges directly from the individual operating the hotel via Agriculture Cooperative Society. Both parties have concluded the hearings in the proceedings-, and the matter now stands reserved for Orders by Estate Officer. The provision of electricity to the ration shop and other associated societies is a long-standing practice undertaken as a directive welfare measure for our employees and the wider community within the factory premises. These facilities are essential for providing basic amenities and support service to our work force, contributing to their overall well-being and morale. This non-recovery is a deliberate decision aimed at fostering a supportive environment for our employees. c) KSEB has just added Rs. 32730163 in the bill for Electricity charges during the month May -2024 without any proper justification and not yet provided the detailed bill/working of the said amount even after repeated reminders. Unit had raised objection for this unreasonable claim during the discussion with the Chairman KSEB and he instructed his staff for verification regarding this claim. The remaining demand of Rs.327.30 lakhs has been disclosed as contingent liability on the ground that the matter was disputed before the electricity authority. d) The demand notice issued by the Kalamassery Municipality for 1,16,12,406/- pertains to the period from FY 2011-12 to FY 2025-26 and is presently under examination by the Unit. Pending verification of the basis of assessment, applicability of the demand, and reconciliation of the amounts already provided and/or paid, the Unit has recognised building tax liability of 57,49,493/- in its books, representing the amount assessed as payable based on the available records. The balance demand of 58,62,913/- has not been recognised as a provision since the Unit has not concluded that a present obligation exists for the entire amount claimed but only disclosed as a contingent liability. . e) Due to severe financial constraints, the Unit was unable to remit the monthly PF contributions to the PF Trust within the prescribed timelines. However, the Unit is committed to remitting the outstanding dues progressively, based on the availability of funds and cash flow generation. f) Liquidated damages are accounted for only when the liability is determined and crystallized by the customer in accordance with the contractual terms. As on 31.03.2026, no such liability had crystallized in the cases pointed out by audit; hence, no provision was considered necessary. g) The company maintains that the transfer of control, significant risks, and rewards of ownership of the CNC machines passed completely to the customers upon physical delivery at their sites. In accordance with past trade practices for these specific models, the subsequent installation and commissioning are considered routine, standard procedures that do not alter the core commercial substance of the equipment sale. While a portion of the payment is linked to commissioning as a credit term, the underlying revenue for the material supply was deemed fully earned upon delivery. Management is, however, reviewing the contract structures to more explicitly demarcate stand-alone selling prices in future agreements to better align with the explicit documentation requirements of Ind AS 115. |
| Textual Information(33) | NO |
| Textual Information(34) | NA |
| Textual Information(35) | NO |
| Textual Information(36) | 8. Audit of HMT Machine Tools Limited (“MTL”) - MTH, Hyderabad a) The unit has reported inventories of Rs. 2,512.71 lakhs where the Management has not carried out an adequate assessment of the Net Realisable Value of slow-moving, non-moving, and obsolete inventories nor provided sufficient supporting evidence for the valuation thereof. Further, we were unable to observe the physical verification of inventories or perform satisfactory alternative audit procedures. Consequently, we were unable to obtain sufficient appropriate audit evidence regarding the existence and valuation of inventories, and the possible effect of any necessary adjustments on the financial statements could not be determined. |
| Textual Information(37) | a) As management is following pre defined Foxpro database software for inventory management. The management has adequate process and systems in place to identify slow moving / non-moving / obsolete /damaged inventory/expired inventory. In our opinion, there is slow moving and non-moving inventories, hence appropriate provision is made. |
| Textual Information(38) | NO |
| Textual Information(39) | NA |
| Textual Information(40) | NO |
| Textual Information(41) | 9. Audit of HMT Machine Tools Limited (“MTL”) - MBX, Bangalore The auditor of the branch/ unit of this subsidiary has issued a disclaimer of opinion on account of significant limitations in audit evidence based on various matters, and we include only the relevant aspects based on the explanation under the initial introduction paragraph. a) As per the audit report of the Unit, certain income and expenditure items pertaining to prior financial years were identified during the current period. Under the provisions of Ind AS 8, material prior-period errors must be corrected retrospectively by restating the comparative amounts for the prior period(s) presented and adjusting the opening balances of equity. However, management has accounted for these prior-period income and expense items prospectively in the current financial year's results instead of restating the comparative prior-year figures. This constitutes non-compliance with Ind AS 8. b) Based on the information and explanations provided, raw materials (including consumables) have been valued at cost as per the ERP records; however, the basis of such cost has not been explained. The valuation of work-in-progress, finished goods, and goods in transit has been carried out using job cards and estimated costs, including overheads. In the absence of supporting documentation, the accuracy of inventory quantities and valuation could not be verified. The use of estimated cost for inventory valuation is not in compliance with Ind AS 2 – Inventories, which requires valuation at cost or net realisable value, whichever is lower, and is also inconsistent with the stated accounting policy 2(j). The unit auditor has pointed out his inability to verify the scrap records, the physical verification of inventories and provision for non-moving inventories. (Repeated) c) The physical verification report of Fixed Assets provided by the Unit was unreliable, and the line items did not reconcile with the Fixed Asset Register. Consequently, we were unable to verify the existence and completeness of Fixed Assets. d) The unit has a letter dated 4.11.2024 from Karnataka Forest Department regarding illegal occupation and possession of Forest Land which has been responded by the unit as can be made out from the extract of the minutes of the Board provided to us. But no further details of this was provided to us. The unit’s document of title mentions the original purchase or gifted quantity only and no title document is made available to show the balance quantities on hand under respective survey numbers after sale of lands and acquisition under Karnataka Municipal Corporation Act/other order. e) The account wise details, balance confirmations and supporting documentation for the margin money deposits amounting to Rs 111.23 lakhs were not made available to us, and consequently, we were unable to determine whether any adjustments were necessary to these balances. The interest income earned or accrued on the margin money deposits for the Financial Year 2025–26 has not been recognized in the books of accounts. Due to the lack of supporting documentation, we were unable to ascertain the unrecorded interest amount and its corresponding impact on the profit/loss for the year. |
| Textual Information(42) | a) The observation has no impact on the Unit's cash profit. The necessary corrections have been incorporated in the financial statements for FY 2025–26. b) The Unit is presently operating at a significantly lower level than its normal production capacity due to business and operational constraints. At the current level of manpower, the fixed production overheads allocated based on normal capacity result in a higher factory cost. Consequently, the computed factory cost exceeds the Net Realisable Value (NRV). The valuation has been carried out in accordance with the applicable accounting policy, considering the lower of cost and NRV, and therefore no further adjustment is considered necessary. c) The physical verification of fixed assets has been carried out by the Unit; however, reconciliation of the physical verification records with the Fixed Asset Register is in progress due to legacy records and changes in asset identification. Necessary reconciliation and updation of records will be carried out to ensure consistency between the physical verification report and the Fixed Asset Register. d) This pertains to Peenya Plantation 1& 2 and Jarakebande Kaval 18 & 19. The Company has submitted all the relavant land details to the Forest Dept. Authorised Representative of the Company has attended the proceedings before Dy. Conservator of forest on several occupation to prove the ownership and occupation of land by HMT Machine Tools Ltd. There is only one mother title deed. After sale of piece of land original title deed will not be updated. Original gift deed is with the custody of HMT Limited e) The margin money deposits represent balances maintained with banks against various banking facilities availed by the Unit. The Unit is in the process of obtaining the necessary confirmations and reconciling the balances. Interest on such deposits will be accounted for on receipt of the relevant confirmations/statements and after due reconciliation. |
| Textual Information(43) | NO |
| Textual Information(44) | NA |
| Textual Information(45) | NO |
| Name of CEO / Managing director | N Ramesh Kumar |
|---|---|
| Name of CFO | Aparna R |
| Name of audit committee chairman | Datania Dineshbhai Ramjibhai |
| Name of statutory auditor | Gopalkrishna Hegde |
| Name of other signatory, if any, with designation | |
| Place | Bengaluru |
| Date | 27-07-2026 |