Atlas Cycles (Haryana) Limited reported a significant deterioration in its financial performance for the full year ended 31st March 2026, swinging to a net loss of ₹803.62 lakh from a net profit of ₹951.26 lakh in the corresponding previous year. The Board of Directors approved the standalone audited financial results at its meeting held on 14th May 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company, which operates solely in the cycles segment, also faced a qualified audit opinion from its statutory auditors for the sixth consecutive time on several matters.

Financial Performance: Annual Results

The company's revenue from operations declined sharply to ₹690.44 lakh in FY26 from ₹1,713.96 lakh in FY25. Total income, including other income of ₹24.86 lakh, stood at ₹715.30 lakh compared to ₹2,879.79 lakh in the prior year. Total expenses for FY26 were ₹1,518.92 lakh against ₹1,928.53 lakh in FY25, resulting in a loss before tax of ₹803.62 lakh. No tax expense was recognised in either year.

The following table summarises the annual financial performance:

Quarterly Performance: Q4 FY26

For the quarter ended 31st March 2026, the company reported a net loss of ₹256.30 lakh, compared to a net profit of ₹98.39 lakh in the same quarter of the previous year. Revenue from operations for Q4 FY26 stood at ₹145.27 lakh, down from ₹367.25 lakh in Q4 FY25 and ₹151.63 lakh in Q3 FY26. Total expenses for the quarter were ₹409.49 lakh against total income of ₹153.19 lakh.

Balance Sheet and Cash Flow Highlights

As at 31st March 2026, total assets stood at ₹48,263.57 lakh compared to ₹47,882.42 lakh as at 31st March 2025. Total equity declined to ₹37,951.27 lakh from ₹38,754.90 lakh, reflecting the year's losses. Cash and cash equivalents improved to ₹277.52 lakh from ₹81.94 lakh at the start of the year. Net cash generated from operating activities was ₹189.24 lakh in FY26, compared to a net outflow of ₹64.98 lakh in FY25. Net cash from investing activities was ₹7.66 lakh, while financing activities resulted in a net outflow of ₹1.31 lakh.

Audit Qualifications

The statutory auditors, Dinesh Nangru & Co. (Firm Registration Number: 015003N), issued a modified opinion on the standalone financial results. The following key qualifications were noted:

• Interest on overdue creditor payments (Qualification A): The company has not provided for interest on overdue outstanding payments to creditors, including MSMEs, and on suits filed by creditors in various courts. The exact quantum of liability is not ascertainable due to absence of supplier reconciliations and balance confirmations. This qualification has been raised for the sixth time.
• Deferred tax liability/asset (Qualification B): The company has not provided for deferred tax liability or deferred tax asset during FY26, citing uncertainty of future profits. This qualification has been raised for the sixth time.
• Inter-corporate loan default (Qualification C): The company has defaulted in repayment of an inter-corporate loan within the stipulated time. It has also not recognised interest expense on this borrowing. The accumulated interest not provided as on 31st March 2026 is Rs. 5,94,00,000/-, including Rs. 99,00,000/- for FY 2025-26, resulting in an understatement of losses to the tune of Rs. 99,00,000/- for FY 2025-26. This qualification has been raised for the sixth time.
• Statutory audit fee not provided (Qualification D): The company has not provided for statutory audit fees during FY26, understating losses by Rs. 22,83,300/-. The accumulated unprovided statutory audit fee as on 31st March 2026 is Rs. 1,61,66,600/-. This qualification has been raised for the sixth time.
• Advance against export sales (Qualification E): The company has neither exported goods nor disclosed advance against export sales as per FEMA regulations amounting to Rs. 48,93,640/-. These are described as old and unreconciled balances. This qualification has been raised for the fifth time.

The impact of audit qualifications on key financial figures, as disclosed in the Statement on Impact of Audit Qualifications, is presented below:

Key Notes

• The company operates in a single reportable segment: Cycles.
• The paid-up equity share capital stands at ₹325.19 lakh (face value ₹5 per share).
• The company did not have any subsidiary, associate, or joint venture entity during the quarter and financial year ended 31st March 2026.
• The company confirmed it is not a Large Corporate as per applicable regulations.
• The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 14th May 2026.

Atlas Cycles (Haryana) Limited has filed its annual declaration under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming that the promoters and promoter group have not created any encumbrance on their shareholding, directly or indirectly, during the financial year ended 31st March 2026. The declaration was submitted to both the National Stock Exchange of India Ltd. and BSE Ltd. by Sanjay Kapur, acting on behalf of the promoter group.

Regulatory Background

Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 mandates that promoters and persons acting in concert submit an annual declaration confirming the absence of any undisclosed encumbrance on their shareholding. This filing is a compliance requirement applicable to all listed companies in India and is intended to ensure transparency in promoter shareholding patterns.

Promoter and Promoter Group Entities Covered

The declaration covers a total of 31 individuals and entities, all categorised under the promoter and promoter group. The following table lists all entities on whose behalf the declaration has been submitted:

Key Details of the Filing

The declaration was filed from New Delhi and signed by Sanjay Kapur, with Vikram Kapur also signing on behalf of the promoters and promoter group of Atlas Cycles (Haryana) Limited. The key parameters of this regulatory submission are summarised below:

The declaration affirms that no encumbrance, direct or indirect, has been made by the promoters and persons acting in concert, other than those already disclosed, during the financial year ended 31st March 2026. This filing reflects the company's adherence to its ongoing regulatory obligations under SEBI's takeover regulations.