Key Quantitative Figures

Standalone Financial Performance (Quarter Ended September 30, 2026):

  • Net Loss: ₹3.62 crore (compared to profit of ₹0.78 crore in Q2 FY26)
  • Revenue from Operations: ₹26.64 crore (60.6% YoY growth from ₹16.59 crore)
  • Other Income: ₹3.25 lakh
  • Total Expenses: ₹30.59 crore
  • Cost of Materials Consumed: ₹24.56 crore
  • Employee Benefits Expense: ₹6.87 lakh
  • Depreciation and Amortization: ₹3.66 lakh
  • Basic EPS: (₹0.66) per share (face value ₹10)

Standalone Financial Performance (Half-Year Ended September 30, 2026):

  • Net Loss: ₹2.84 crore (compared to profit of ₹0.30 crore in H1 FY26)
  • Revenue from Operations: ₹43.23 crore
  • Other Income: ₹6.07 lakh
  • Basic EPS: (₹0.52) per share

Consolidated Financial Performance (Quarter Ended September 30, 2026):

  • Net Loss: ₹3.62 crore (compared to loss of ₹6.97 crore in Q2 FY26)
  • Revenue from Operations: ₹26.64 crore
  • Basic EPS: (₹0.66) per share

Consolidated Financial Performance (Half-Year Ended September 30, 2026):

  • Net Loss: ₹2.84 crore (compared to profit of ₹0.30 crore in H1 FY26)
  • Basic EPS: (₹0.52) per share

Balance Sheet Position (Standalone as of September 30, 2026):

  • Total Assets: ₹128.58 crore (decreased from ₹147.17 crore in March 2026)
  • Non-Current Assets: ₹27.27 crore
  • Current Assets: ₹101.31 crore
  • Inventories: ₹12.44 crore
  • Trade Receivables: ₹21.75 crore
  • Cash and Cash Equivalents: ₹12.67 crore
  • Equity Share Capital: ₹54.44 crore
  • Reserves & Surplus: ₹73.16 crore

Cash Flow Statement (Standalone Half-Year Ended September 30, 2026):

  • Net Cash from Operating Activities: ₹1.92 crore
  • Net Cash Used in Investing Activities: (₹5.32) crore
  • Net Cash Used in Financing Activities: (₹0.01) crore
  • Net Decrease in Cash: (₹3.41) crore

Dates of Action

  • Board Meeting Date: November 4, 2026 (6:00 PM to 6:40 PM)
  • Financial Period: Quarter and half year ended September 30, 2026
  • Review Report Date: November 4, 2026

Parties Involved

  • Subsidiary: NAE Mobility Private Limited (contributed ₹0.60 lakh income and ₹0.62 lakh loss)
  • Statutory Auditors: R. Bhargava & Associates (FRN: 012788N)
  • Review Partner: Gaurang Bhargava (M. No. F.C.A.530161)
  • Company Secretary: Vedant Ashish Bhatt
  • Managing Director: Bupinder Singh Chadha (DIN: 00151568)

Business Operations

  • The company is engaged in manufacturing EV Luxury buses and related activities
  • Single reportable segment as defined under Ind AS 108

Financial Impact

The financial results show a significant deterioration in profitability compared to the same period last year, with both quarterly and half-yearly results showing losses despite revenue growth.