HARCR

Harig Crankshafts Ltd. (HARIGCRANK) is a company that has undergone a significant structural shift following a long period of operational inactivity and insolvency proceedings. Historically, the company was a manufacturer of high-quality automotive crankshafts for a diverse range of vehicles, including passenger cars, light commercial vehicles, trucks, and earth-moving equipment. However, the company's core manufacturing operations have been shut down since the 2011 financial year.

Following the approval of a Resolution Plan submitted by Palika Towns LLP by the Committee of Creditors and the National Company Law Tribunal (NCLT), Allahabad Bench (orders dated October 20, 2023, and April 17, 2024), the company has undergone a change in its business direction. After the close of the 2025 financial year, Harig Crankshafts altered its main objects to transition into real estate development and civil engineering related services.

Key Points

* Key Facts: * Founded Year: 1983 (incorporated as per CIN L68200UP1983PLC026603). * Headquarters: Noida, Uttar Pradesh, India. * Stock Listing: BSE Limited (BSE), Scrip Code: 500178. * Current Management/Parent Entity: Palika Towns LLP (Resolution Applicant).

* Operations and Resources: * The company’s registered office is located in Greater Noida, Uttar Pradesh. * Property, Plant, and Equipment were valued at ₹2,992.26 lakh (in hundreds) as of September 30, 2025, with Capital Work-in-Progress at ₹1,454.56 lakh (in hundreds). * Historical manufacturing assets are largely inactive, and the company has classified certain assets as held for sale, valued at ₹5,500 lakh (in hundreds) as of September 2025.

* Business Model and Segment Revenue: * The company is currently in a transitional phase. Its historical business model focused on automotive component manufacturing, but the new model is centered on real estate and civil engineering. * Revenue from Operations: For the fiscal year ended March 31, 2025, the company reported zero revenue from operations. * Other Income: Reported at ₹113.91 lakh (in hundreds) for the half-year ended September 30, 2025, primarily consisting of interest on FDRs and other non-operating sources. * Financial Performance (FY 2025): The company incurred a net loss of ₹5,433.41 lakh (in hundreds) for the year ended March 31, 2025. * Quarterly Performance (Dec 2025): For the quarter ended December 31, 2025, the company reported a Total Comprehensive Income of ₹4,259.91 lakh (in hundreds), aided by significant exceptional items/other income adjustments, resulting in a Basic EPS of ₹4.06 for the quarter (non-annualized).

* Ownership and Privatization: * The company emerged from a Corporate Insolvency Resolution Process (CIRP). Control has been transferred to the successful Resolution Applicant, Palika Towns LLP. * As of March 31, 2025, the Paid-up Equity Share Capital stood at ₹1,050.00 lakh (in hundreds).

* Strategic Initiatives and Outlook: * Diversification: The company has formally amended its Memorandum of Association to focus on real estate and civil engineering services to revive commercial viability. * Debt Restructuring: The company is managing non-current borrowings totaling ₹74,020 lakh (in hundreds) as of September 2025. * Sustainability and Innovation: Current reports do not highlight specific environmental or technological innovations due to the ongoing restructuring and cessation of manufacturing.

References 1. [Annual Report May 2025](https://trendlyne.com/get-document/document/pdf/1947872/) 2. [Result Nov 2025](https://trendlyne.com/get-document/document/pdf/2015867/) 3. [Result Feb 2026](https://trendlyne.com/get-document/document/pdf/2082598/)