Penny Stock Below Rs 100 Posts Wider Loss in Q1 FY27 Even as Land Sale Deal Gets Extended

On Wednesday, Indian equity benchmark indices traded lower, with the Nifty 50 index falling 110 points (0.45 per cent) to 24,361.70. Amid the market movement, Atlas Cycles (Haryana) Limited share price rose 0.33 per cent to Rs 97.69 after the company reported its unaudited standalone financial results for the quarter ended June 30, 2026, and disclosed an update on its ongoing land sale at Sonepat, Haryana.

Atlas Cycles Posts Wider Loss in Q1 FY27

Atlas Cycles (Haryana) Limited reported a net loss of Rs 192.02 lakh for Q1 FY27, wider than the net loss of Rs 158.38 lakh recorded in Q1 FY26, reflecting a YoY deterioration of about 21 per cent. Sequentially, however, the loss narrowed significantly from Rs 256.30 lakh posted in Q4 FY26, suggesting some improvement in operating conditions on a quarter-on-quarter basis.

Revenue from operations stood at Rs 153.57 lakh in Q1 FY27, declining 22.5 per cent YoY from Rs 198.27 lakh in Q1 FY26. On a sequential basis, revenue grew modestly from Rs 145.27 lakh in Q4 FY26. Other income was nil in the quarter, compared with Rs 15.44 lakh in Q1 FY26 and Rs 7.92 lakh in Q4 FY26, pulling total income to Rs 153.57 lakh against Rs 213.71 lakh in the year-ago period, a decline of about 28 per cent YoY.

Costs Remain Elevated Relative to Revenue

Total expenses for Q1 FY27 stood at Rs 345.59 lakh, against Rs 372.09 lakh in Q1 FY26 and Rs 409.49 lakh in Q4 FY26. Cost of materials consumed was Rs 141.72 lakh, down from Rs 193.21 lakh in Q1 FY26. Employee benefit expenses rose to Rs 52.66 lakh from Rs 54.63 lakh in Q1 FY26, while depreciation and amortisation stood at Rs 43.98 lakh, unchanged from the year-ago quarter. Other expenses came in at Rs 107.23 lakh, up from Rs 80.27 lakh in Q1 FY26, indicating cost pressures outside the core production line. Finance costs were nil in the quarter. With total expenses significantly exceeding revenue from operations, the company reported a loss before exceptional items and Tax of Rs 192.02 lakh for the quarter.

Board Approves Extension of Sonepat Land Sale Deadline

Alongside the financial results, the Board of Directors at its meeting held on August 12, 2026, approved an extension for the execution of the sale deed related to 20 acres of land situated in Sonepat, Haryana. The deadline for the sale deed execution has been extended to December 31, 2026.

The company had previously entered into an Agreement to Sell for the said land on December 7, 2024, and had communicated updates regarding this transaction on multiple occasions — April 14, 2026, January 16, 2026, October 31, 2025, May 29, 2025, and December 7, 2024. As of the date of the board meeting, the company has received an advance of Rs 45.00 crore from the buyer. The buyer has further undertaken to pay an additional Rs 15.00 crore by October 30, 2026, prior to the execution of the final sale deed by December 31, 2026.

About Atlas Cycles (Haryana) Limited

Small-Cap-stock-bags-rs-184-crore-order-for-e-surveillance-across-1000-pnb-atms-58947" id="alsoread">Atlas Cycles (Haryana) Limited is one of India's oldest bicycle manufacturers, with its registered office in Sonepat, Haryana. The company manufactures and sells cycles and related components and has historically been a significant player in India's organised bicycle industry. In recent years, the company has faced persistent operational challenges reflected in continued losses at the revenue and net profit level.
Bank-of-new-york-mellon-held-bank-allots-usd-300-million-senior-notes-at-5348-interest-check-details" id="alsoread">Also Read - Bank of New York Mellon-Held Bank Allots USD 300 Million Senior Notes at 5.348% Interest; Check Details

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Disclaimer: The article is for informational purposes only and not investment advice.