Hira Automobiles Limited Files Quarterly Compliance Report on Delisting Process and Public Shareholding Norms

Hira Automobiles Limited has filed its quarterly compliance report with the Bombay Stock Exchange, providing an update on the company's ongoing delisting process and compliance with minimum public shareholding norms under SEBI order WTM/PS/08/CFD/JUNE/2013 dated June 4, 2013.

Delisting Process Overview

The company initiated its delisting process in May 2013 following a request from Chairman Rahul Inder Singh Sidhu to acquire the remaining 4.28% public shareholding. The delisting decision was made to comply with minimum public shareholding requirements as mandated by the Securities and Exchange Board of India.

Timeline of Major Events

The compliance report provides a comprehensive timeline of events spanning from May 2013 to 2024:

Event	Date
Request letter from Chairman for acquiring remaining public shareholding	May 25, 2013
Board resolution authorizing delisting of equity shares	May 28, 2013
Appointment of scrutinizer and merchant banker	May 28, 2013
Completion of postal ballot notice dispatch	May 30, 2013
Publication of advertisement in newspapers	May 31, 2013
Request for extension of time to SEBI	June 3, 2013
Reply to SEBI order	June 24, 2013
Last date for postal ballot submission	June 29, 2013
Postal ballot results declared	July 3, 2013
Advertisement publication for postal ballot results	July 5, 2013

Regulatory Approvals and Developments

The company received several key approvals during the delisting process:

Exchange	Approval Date
BSE Limited	March 25, 2014
Ahmadabad Stock Exchange Limited	March 25, 2014
Delhi Stock Exchange Association Limited	March 25, 2014
Ludhiana Stock Exchange Association Limited	February 11, 2014

SEBI granted permission to Chairman Rahul Inder Singh Sidhu on November 22, 2013, for the purchase of the balance public share of 4.28% with a directive to complete the delisting within five months of the order.

Recent Regulatory Action

In April 2024, SEBI imposed a penalty of ₹14.00 lakhs on the company through Adjudication Order No. ORDER/BM/DS/2024-25/30274 dated April 16, 2024. This penalty was levied for non-filing of quarterly reports as required under Clause 19 of the SEBI order. The company deposited the penalty amount on May 24, 2024, via payment reference YCPN2336497875.

Current Status and Future Steps

The report indicates that the company did not receive the requisite consent from shareholders as of August 14, 2014. Currently, Hira Automobiles is in the process of filing appropriate applications and representations with SEBI to seek necessary directions that would enable the promoters to comply with minimum public shareholding norms.

The quarterly compliance report demonstrates the company's ongoing efforts to resolve the delisting matter and achieve compliance with regulatory requirements that have been pending since 2013.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-100.00%	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%

Hira Automobiles Limited , a vehicle sales and service company, has reported a significant decline in its financial performance for the quarter ended September 30, 2025 (Q2 FY26). The company's net profit fell by 75% year-over-year, reflecting challenging conditions in the automotive sector.

Key Financial Highlights

Metric	Q2 FY26	Q2 FY25	YoY Change
Net Profit	₹9.16	₹36.95	-75.21%
Revenue from Operations	₹2,667.33	₹5,802.85	-54.03%
Earnings Per Share (EPS)	₹0.33	₹1.34	-75.37%

The company's performance shows a stark contrast compared to the same period last year, with revenue from operations declining by over 54%.

Quarterly Performance Analysis

Metric	Q2 FY26	Q1 FY26	QoQ Change
Revenue	₹26.70	₹22.80	+17.11%
Operating Profit	₹2.10	₹2.00	+5.00%
Net Profit	₹0.10	₹0.10	No change

Despite the year-over-year decline, Hira Automobiles showed some resilience on a quarter-on-quarter basis, with revenue increasing by 17.11% compared to Q1 FY26.

Operational Efficiency

The Operating Profit Margin (OPM) for Q2 FY26 stood at 7.91%, showing a decline from 8.75% in the previous quarter. However, it's worth noting that the OPM has improved significantly compared to the same quarter last year (4.77%), indicating some success in cost management despite lower revenues.

Challenges and Outlook

The substantial drop in revenue and profit suggests that Hira Automobiles is facing significant headwinds in the automotive sector. These challenges could be attributed to various factors such as:

Reduced consumer demand
Supply chain disruptions
Increased competition in the vehicle sales and service industry

While the company has managed to improve its quarter-on-quarter performance, the year-over-year decline indicates that recovery to pre-pandemic levels may take time.

Investors and stakeholders will be keenly watching Hira Automobiles' strategies to navigate these challenging market conditions and return to profitability in the coming quarters.