Hindustan Motors Q2 FY27 Results (NSE: HINDMOTORS)
Signal: Steady quarter
The read
The key trajectory is cost rationalisation without business revival: Q2FY27 total income was ₹95 lakh, entirely other income and flat YoY, while PAT was ₹22 lakh and flat QoQ; the company still has no operating revenue, negative H1 operating cash flow of ₹220.04 lakh and a qualified going-concern conclusion.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹0.95 Cr | 0% | +1.1% |
| EBIT | ₹0.3 Cr | +76.5% | |
| Net profit | ₹0.22 Cr | +57.1% | |
| EPS | ₹0.01 | N/A | |
| EBIT margin | 31.6% |
P&L walk
Standalone earnings remain non-operating: total income was ₹95 lakh, unchanged YoY and up 1.1% QoQ, while PAT rose 57.1% YoY to ₹22 lakh because expenses fell to ₹65 lakh and finance costs remained at ₹0 lakh.
Key positives
- Cost rationalisation is visible in total expenses of ₹65 lakh, down 16.7% YoY, while employee benefits expense was ₹3 lakh and finance costs were ₹0 lakh.
- The company reported ₹2,443.74 lakh of cash and cash equivalents and current assets of ₹5,473.34 lakh versus current liabilities of ₹2,193.11 lakh, supporting near-term liquidity.
- PAT improved 57.1% YoY to ₹22 lakh despite flat total income of ₹95 lakh, reflecting lower fixed-cost intensity.
Key concerns
- Revenue from operations remained ₹0 lakh, so the ₹95 lakh of total income was entirely other income and does not demonstrate a manufacturing or automotive-business recovery.
- H1FY27 operating cash flow was negative at ₹220.04 lakh versus positive ₹705.27 lakh in H1FY26, weakening the quality of reported profit.
- The company has had no operations for a long period following suspension of work at the Uttarpara plant, and management is still seeking a new business or technology partner.
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