Atlas cycle (haryana) Limited has announced that its Board of Directors will convene on January 16, 2026, to review and approve the company's unaudited financial results for the third quarter of fiscal year 2026.

Board Meeting Details

The meeting has been scheduled in accordance with regulatory requirements to consider the financial performance for the quarter and nine months ended December 31, 2025. The announcement was made through a formal communication to stock exchanges on January 9, 2026.

Regulatory Compliance

The company has fulfilled its obligation under Regulation 29 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, by providing prior intimation of the board meeting to stock exchanges. This regulation mandates listed companies to inform exchanges about board meetings where financial results will be considered.

The formal notification was sent to both the National Stock Exchange of India Limited and BSE Limited, where the company's shares are listed under the symbol ATLASCYCLE and scrip code 505029 respectively.

Company Communication

The announcement was signed by Rashpal Singh, Company Secretary & Compliance Officer, who digitally authenticated the document on January 9, 2026. The communication follows standard corporate governance practices for listed companies in India, ensuring transparency and timely disclosure to stakeholders and regulatory authorities.

Atlas Cycle (Haryana) Limited, a leading bicycle manufacturer, has announced its unaudited financial results for the quarter and half-year ended September 30, 2025, alongside significant changes in its leadership structure.

Financial Performance

The company reported a net loss of Rs 238.69 lakhs for the quarter ended September 30, 2025, compared to a profit of Rs 871.79 lakhs recorded in the same period last year. This shift from profit to loss indicates a challenging quarter for the bicycle maker.

Key Financial Highlights

The company's revenue from operations saw a significant decline, dropping to Rs 195.27 lakhs in Q2 FY2026 from Rs 369.70 lakhs in the corresponding quarter of the previous year.

Leadership Changes

Concurrent with the financial results, Atlas Cycles announced major changes in its top management:

1. Chander Mohan Dhall:

   • Resigned as Whole-time Director, Chief Financial Officer, and Director, effective November 12, 2025.
   • Appointed as Chief Executive Officer (CEO) from November 13, 2025.

2. Satya Prakash Dangwal:

   • Appointed as the new Chief Financial Officer (CFO), effective November 13, 2025.

Executive Profiles

Chander Mohan Dhall (New CEO)

• Age: 64
• Education: M.Com. from Meerut University (1984), Post-graduate Diploma in MBA (1987), CWA/CMA (1992)
• Experience: Joined Atlas Cycles in August 1996, with over two decades of experience in accounts and finance

Satya Prakash Dangwal (New CFO)

• Education: Commerce Graduate from Garhwal University
• Experience: Over 35 years in accounts and finance, including 30 years with Atlas Cycles since 1994

Auditor's Review

The independent auditor's review highlighted two key concerns:

1. Non-provision of interest on overdue payments to creditors, including MSMEs.
2. Default in repayment of an Inter Corporate Loan and non-provision of interest liability for the half-year ended September 30, 2025, understating losses by approximately Rs 49.50 lakhs.

Outlook

These leadership changes come at a crucial time for Atlas Cycles as it navigates through financial challenges. The appointment of long-standing executives to key positions suggests a strategy to leverage internal expertise in steering the company through its current difficulties.

As Atlas Cycles works to address its financial performance and auditor concerns, the market will be watching closely to see how the new leadership team manages these challenges and charts a course for future growth.