Atlas Cycles (Haryana) Limited has received board approval for extending the timeline of its significant land sale transaction in Sonepat, Haryana. The company's board of directors convened on January 16, 2026, to address the buyer's request for additional time to complete the sale deed execution.

Extension Details and Timeline

The board has approved an extension until March 31, 2026, for the execution of the sale deed concerning 20 acres of company land situated in Sonepat, Haryana. This extension comes following the buyer's formal request for additional time to complete the transaction formalities.

Payment Structure and Progress

The financial arrangement for this land transaction demonstrates substantial progress, with the company having already secured a significant portion of the agreed consideration. Under the Agreement to Sell executed on December 7, 2024, the payment structure has been established in phases.

Regulatory Compliance and Communication

The company has maintained consistent communication with stock exchanges regarding this material development. Atlas Cycles has filed intimations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, ensuring transparency with stakeholders.

Previous intimations regarding this land sale were communicated to the National Stock Exchange of India Limited and BSE Limited on:

• October 31, 2025
• May 29, 2025
• December 7, 2024

Corporate Governance and Future Updates

The board meeting was efficiently conducted within a timeframe of one hour and fifteen minutes, reflecting focused decision-making on this material matter. Company Secretary and Compliance Officer Rashpal Singh has assured stakeholders that further intimations will be provided as and when material developments occur in relation to this land transaction.

The company continues to maintain its commitment to regulatory compliance and stakeholder communication throughout this significant asset monetization process.

Atlas Cycles (Haryana) Limited announced its unaudited financial results for the third quarter of fiscal year 2026, ending December 31, 2025. The bicycle manufacturer reported challenging financial performance with significant losses during the quarter, reflecting ongoing operational difficulties in the cycling industry.

Financial Performance Overview

The company's financial metrics for Q3FY26 demonstrate a marked deterioration compared to the previous year:

The company recorded a net loss of ₹1.50 crore for Q3FY26, a significant decline from the profit of ₹0.27 crore reported in the corresponding quarter of the previous fiscal year. Revenue from operations fell 31.11% year-on-year to ₹1.52 crore from ₹2.20 crore in Q3FY25.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Atlas Cycles reported substantially weaker performance:

The nine-month results show a net loss of ₹5.47 crore compared to a profit of ₹8.53 crore in the corresponding period of the previous year. Revenue from operations declined 34.26% to ₹5.45 crore from ₹8.29 crore.

Land Sale Transaction Update

The Board of Directors approved an extension for the sale of 20 acres of company land situated in Sonepat, Haryana. Key details of the transaction include:

The buyer has received an extension until March 31, 2026, for executing the sale deed. The company has already received ₹30.00 crore in tranches as part consideration, with the buyer committed to paying the remaining ₹30.00 crore by the extended deadline.

Operational Expenses and Cost Structure

The company's expense breakdown for Q3FY26 shows cost management efforts amid declining revenues. Material costs constituted ₹1.38 crore, while employee benefit expenses totaled ₹0.53 crore. Depreciation and amortization expenses remained steady at ₹0.44 crore, while other expenses decreased to ₹0.67 crore from ₹0.81 crore in the previous year.

Auditor's Qualified Opinion

The statutory auditors issued a modified opinion highlighting two significant concerns. The company has not provided for interest on overdue payments to creditors, including MSMEs, and has defaulted on inter-corporate loan repayments. The auditors noted that the company has understated losses by ₹0.74 crore due to unprovided interest liability on inter-corporate loans for the period ended December 31, 2025.