HMT Limited has released its unaudited financial results for the quarter and nine months ended December 31, 2025, presenting a mixed performance picture across its standalone and consolidated operations. The Board of Directors approved these results at their meeting held on February 9, 2026.

Standalone Financial Performance

The company's standalone operations demonstrated resilience with improved profitability metrics. Net profit for Q3 FY26 reached ₹670 lakhs, maintaining consistency with the previous year's Q3 performance of ₹659 lakhs.

For the nine-month period, standalone operations showed stronger performance with net profit increasing to ₹2005 lakhs from ₹1798 lakhs in the corresponding period of FY25, representing an improvement of 11.51%.

Consolidated Operations Face Challenges

Consolidated results painted a different picture, with the company reporting significant losses across all reporting periods. The consolidated net loss for Q3 FY26 was ₹2724 lakhs compared to ₹5128 lakhs loss in Q3 FY25.

Despite the losses, the consolidated operations showed improvement compared to the previous year, with reduced losses in both quarterly and nine-month periods.

Segment-wise Performance Analysis

The consolidated segment information revealed varied performance across business verticals:

Key Financial Metrics

Earnings per share from continuing operations on a standalone basis was ₹0.19 for Q3 FY26, matching the previous year's performance. For the nine-month period, EPS improved to ₹0.56 from ₹0.51 in the corresponding period of FY25.

On a consolidated basis, the company reported a loss per share of ₹0.77 for Q3 FY26, an improvement from the ₹1.44 loss per share in Q3 FY25.

Regulatory and Operational Updates

The company highlighted the impact of New Labour Codes effective from November 21, 2025, noting that the Government of India is in the process of notifying related rules. HMT has created provisions for gratuity in respect of fixed-tenure employees in line with guidance from the Institute of Chartered Accountants of India.

Additionally, the company wrote off ₹1807 lakhs as bad debt related to uncertain interest on loans provided to HMT Marine Tools Ltd for the period April 2025 to December 2025, following Board approval in September 2025.

The financial results were subject to limited review by MKPS & Associates LLP, Chartered Accountants, and were approved by the company's Board of Directors on February 9, 2026.

HMT Limited has filed an application with the Ministry of Corporate Affairs to strike off its wholly owned subsidiary HMT Watches Limited from the records of the Registrar of Companies. The application was submitted under Section 248 of the Companies Act, 2013, marking a significant step in the company's restructuring process.

Background and Regulatory Approval

The striking off process stems from an earlier decision by the Cabinet Committee on Economic Affairs (CCEA). In its meeting dated January 6, 2016, the CCEA approved the closure of three subsidiary companies of HMT Limited. The subsidiaries identified for closure included HMT Watches Limited, HMT Bearings Limited, and HMT Chinar Watches Limited.

Current Development

After completing the requisite formalities over the years, HMT Limited has now moved forward with the formal striking off process for HMT Watches Limited. The application represents the culmination of procedural requirements that needed to be fulfilled before approaching the Ministry of Corporate Affairs for the subsidiary's removal from official records.

Regulatory Compliance

The announcement was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. HMT Limited has been keeping stock exchanges informed at various stages regarding the status of the subsidiary closure process since the initial CCEA approval.

Company Information

HMT Limited, a Government of India undertaking, is headquartered at HMT Bhavan, Bellary Road, Bengaluru. The company trades on both BSE (scrip code: 500191) and NSE (scrip symbol: HMT) and continues its operations while streamlining its subsidiary structure through this striking off process.