{"url":"https://newsforagent.com/news/2026-11-06/hariyana-ship-breakers-q2fy27-zero-revenue-profit","markdown_url":"https://newsforagent.com/news/2026-11-06/hariyana-ship-breakers-q2fy27-zero-revenue-profit.md","title":"Hariyana Ship Breakers Posts ₹86.68 Lakh Profit on Zero Revenue","headline":"Hariyana Ship Breakers Q2FY27 Profit Falls to ₹86.68 Lakh as Operational Revenue Hits Zero","description":"Hariyana Ship Breakers reported ₹86.68 lakh consolidated net profit for Q2FY27 on zero operational revenue.","section":"Earnings & Results","published_at":"2026-11-06T11:03:59+00:00","modified_at":"2026-11-06T11:03:59+00:00","author":"News Desk","key_takeaways":["Hariyana Ship Breakers' Q2FY27 operational revenue was nil, down from ₹130.00 lakh a year earlier.","Consolidated net profit fell to ₹86.68 lakh from ₹224.78 lakh, with other income of ₹210.16 lakh making up all of total income.","Auditors S N Shah & Associates flagged material uncertainty over the going concern status of the Bhavnagar division."],"companies":[{"name":"Hariyana Ship Breakers","is_primary":true,"profile_url":"https://akta.pro/company-profiles/003kdfb/hariyana-ship-breakers","website":"https://www.hariyanagroup.com"},{"name":"Punjab National Bank","is_primary":false,"profile_url":"https://akta.pro/company-profiles/000572y/punjab-national-bank","website":"https://www.pnbindia.in"}],"source":{"publisher":"ScanX","title":"Hariyana Ship Breakers Q2FY27 Results: Net profit ₹86.68 lakh, zero operational revenue","url":"https://scanx.trade/stock-market-news/companies/hariyana-ship-breakers-q2fy27-results-net-profit-86-68-lakh-zero/55507519"},"other_sources":[],"tags":["Earnings & Results","Hariyana Ship Breakers","Punjab National Bank"],"body_markdown":"Hariyana Ship Breakers reported consolidated net profit of ₹86.68 lakh for the quarter ended September 30, 2026, down from ₹224.78 lakh a year earlier, as revenue from operations fell to nil from ₹130.00 lakh. [ScanX](https://scanx.trade/stock-market-news/companies/hariyana-ship-breakers-q2fy27-results-net-profit-86-68-lakh-zero/55507519) published the results on November 6, 2026.\n\n## Hariyana's Quarter Rests on Other Income\n\n[Hariyana Ship Breakers](https://akta.pro/company-profiles/003kdfb/hariyana-ship-breakers) is part of the Hariyana Group, an Indian family-controlled conglomerate that operates ship recycling at Alang-Sosiya alongside steel manufacturing and trading, industrial gas production and real estate development. The company said it is evaluating suitable business opportunities to recommence operations.\n\nOther income of ₹210.16 lakh accounted for 100% of total income, against ₹269.24 lakh in the prior-year quarter. Total income was ₹210.16 lakh, down from ₹399.24 lakh, while profit before tax fell to ₹117.89 lakh from ₹281.41 lakh. Total expenses for the quarter were ₹92.27 lakh.\n\nNon-current investments stood at ₹14,423.16 lakh as of September 30, 2026, about 89.99% of total assets. The statutory auditors, S N Shah & Associates, issued a limited review report with emphasis of matter paragraphs, including that the going concern status of the company, particularly regarding non-operational activity at the Bhavnagar division, is materially affected.\n\nThe auditors also noted a pending advance of ₹1.21 crore received in FY2017-18 for a joint venture that has not commenced and has not been returned. The company surrendered a sanctioned working capital borrowing limit of ₹150 crore from [Punjab National Bank](https://akta.pro/company-profiles/000572y/punjab-national-bank), with a No Dues Certificate issued in August 2026. Capital contribution of ₹144.23 crore sits in partnership firms focused on real estate development, nearly 90% of total assets.\n\n## Real Estate Partnerships Hold Most Assets\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Hariyana Ship Breakers jointly promoted real estate development entities Hybrid Properties Pvt Ltd and Bapa Real Estate Pvt Ltd with Goyal & Company, described as one of the largest and most experienced developers in Ahmedabad, Gujarat. The same records state the group was established in the early 1980s and has over three decades in ship recycling, with Hariyana Ship Breakers Ltd. reporting annual turnover of more than 60,000 MT per annum.\n\n## Shareholders Backed the Board in September\n\nAt the 45th AGM on September 30, 2026, shareholders adopted the FY26 financial statements, reappointed Mr. Shantisarup Reniwal as director and approved cost auditor remuneration, ScanX reported. On September 25, 2026, ScanX reported that promoter Rajeev Reniwal raised his stake to 31.69% after acquiring 4,14,800 shares from his mother through an inter-se transfer, with the total promoter group holding unchanged at 74.95%.\n\n## What Comes Next for Hariyana\n\nManagement has not set a date for recommencing operations. The No Dues Certificate from Punjab National Bank was issued in August 2026, and the auditors' report covers the quarter ended September 30, 2026.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}