HLV Limited announced the outcome of its Board Meeting held on February 12, 2026. The Board approved the Unaudited Financial Results for the third quarter and nine months ended December 31, 2025. Additionally, based on the recommendation of the Nomination & Remuneration Committee, the Board approved the re-appointment of Mr. Ashok Rajani as an Independent Director for five years, effective March 30, 2026.
Board Meeting Outcome: February 12, 2026
The Board of Directors of HLV Limited convened on February 12, 2026, finalizing key decisions, including the results for the third quarter and the nine months ending December 31, 2025, following their review by the Audit Committee.
Financial Performance Summary (Q3 & 9M Ended Dec 31, 2025)
The company reported significant fluctuations compared to previous periods. Total Income for the quarter ended December 31, 2025, stood at Rs. 6,372 lakhs, while the nine months ended reported total income of Rs. 14,661 lakhs.
The Net Profit/(Loss) position shows volatility:
- For the quarter ended December 31, 2025, the Net Profit/(Loss) after tax was Rs. 687 lakhs, compared to a loss of (Rs. 992 lakhs) in the same quarter last year (Q3 FY2025).
- For the nine months ended December 31, 2025, the Net Profit/(Loss) after tax was a loss of (Rs. 652 lakhs), contrasting with a profit of Rs. 1,538 lakhs in the nine months ended December 31, 2024.
Earnings per share (Basic and diluted) for the nine-month period stood at (Rs. 0.10).
Director Re-appointment Details
The Board approved the re-appointment of Mr. Ashok Rajani (DIN: 00267748) as an Independent Director. This appointment is for a term of five (5) years, commencing from March 30, 2026, up to March 29, 2031, subject to shareholder approval.
Mr. Rajani, aged 77 years, possesses over five decades of experience in the textile industries, management, and operations. He currently serves as a Member/Chairman of the Apparel Export Promotion Council, sponsored by the Ministry of Textiles.
Key Notes and Contingencies
The financial results are prepared on a ‘going concern basis’, contingent upon the company obtaining favorable settlements regarding disputes with the Airports Authority of India (AAI).
Significant contingent liabilities disclosed include:
- Note 5(a): A disputed amount of Rs. 543 lakhs for the quarter (cumulative Rs. 17,009 lakhs up to December 31, 2025) related to unilateral lease termination and eviction proceedings for the Mumbai Hotel.
- Note 5(b): A claim by AAI amounting to Rs. 80,705 lakhs as of January 31, 2019, related to rent and minimum guarantee fees for land in Mumbai, which the company disputes as contingent liability.
The auditor confirmed that the company does not have reportable segments other than Hoteliering and that no provision for taxes has been made due to accumulated losses from earlier years.
Source: BSE
