Maharashtra Scooters Q1 PAT slides 100% to Rs 0.03-cr

Total income slipped 81.51% year-on-year (YoY) to Rs 5.41 crore in Q1 FY27.

Profit before tax (PBT) declined 83.85% YoY to Rs 4.55 crore in Q1 FY27 from Rs 28.18 crore in the corresponding quarter of the previous year.

Total expenses declined 21.10% YoY to Rs 0.86 crore in Q1 FY27. Employee benefit expenses rose 37.5% YoY to Rs 0.22 crore, while other expenses fell 30.43% YoY to Rs 0.64 crore during the quarter.

The company's board approved amendments to the Object Clause of the Memorandum of Association (MoA) to align it with its strategic objective of operating as an Unregistered Core Investment Company (CIC) under RBI regulations. As part of the changes, the company will remove clauses related to its discontinued scooter manufacturing business, which ceased in 2006, and tool room operations, which were closed in FY2025. The existing investment-related clause will become the company's primary object.

The board also approved the inclusion of a new object clause enabling the company to undertake the generation and production of renewable energy through solar, wind and other natural resources in the future. The company clarified that this addition will not affect its status as an Unregistered CIC.

Additionally, the board approved a proposal to change the company's name to better reflect its core strategic objectives. The proposed amendments to the MoA and the name change are subject to the approval of shareholders and the requisite statutory and regulatory authorities.

Maharashtra Scooters is engaged in the business of manufacturing dies, jigs, fixtures, and die-casting components primarily for the automobile industry.

The scrip rose 0.15% to Rs 12,746.50 on the BSE.

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