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.

Atlas Cycle (Haryana) Limited has announced an extension for the execution of a sale deed related to 20 acres of land in Sonepat, Haryana. The company has pushed the deadline to January 31, 2026, following a request from the buyer.

Key Details of the Extension

This extension marks a significant development in the ongoing land sale transaction, which has been in progress for some time. The company had previously communicated about this sale through intimations on December 7, 2024, and May 29, 2025.

Background and Process

According to the LODR (Listing Obligations and Disclosure Requirements) data, the buyer has been in discussions with Atlas Cycles following the last extension, which was set to expire on September 5, 2025. The new extension request came through a letter dated October 30, 2025, seeking additional time for the execution of the Sale Deed.

Company's Response

Atlas Cycles has agreed to the buyer's request, granting the extension as requested. This decision reflects the company's flexibility in managing the transaction timeline, potentially to ensure a successful completion of the sale.

Transparency and Compliance

In line with regulatory requirements, Atlas Cycles has properly disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company has committed to providing further updates on any material developments regarding this land sale transaction.

Implications

While the extension of the deadline doesn't provide immediate closure to the land sale, it does indicate ongoing interest from the buyer and a willingness from Atlas Cycles to accommodate the extended timeline. Stakeholders will need to wait for further updates to understand the full implications of this extension on the company's plans and financial position.

Atlas Cycles maintains that it will keep the market informed of any significant progress in this matter, ensuring transparency in its corporate actions.