HMT Board Approves ₹23.87 Crore Bad Debt Write-Off and Appoints New Secretarial Auditor
The write-off of ₹23.87 Crores is a material financial event for the company, impacting its balance sheet for FY 2025-26. The appointment of a Secretarial Auditor is a standard regulatory compliance and has a low direct financial impact. Therefore, the overall impact is medium due to the significant write-off.
The write-off of ₹23.87 Crores in bad debt, while a clean-up of the books, represents a past financial loss. The appointment of a Secretarial Auditor is a routine compliance activity. The combined effect is largely neutral in terms of immediate market perception, as the bad debt is a recognition of an existing issue.
HMT Limited's Board of Directors, in a meeting held on 29 September 2025, approved the following key decisions: * To write off approximately ₹23.87 Crores of uncertain/unrealizable interest on the loans provided to its wholly-owned subsidiary, HMT Machine Tools Limited, as bad debts in the company's books for the Financial Year 2025-26. * The appointment of M/s. M & A Associates, Practicing Company Secretaries, as the Secretarial Auditor for the company for a five-year term, from FY2025-26 to FY2029-30. This appointment is subject to the approval of shareholders at the ensuing Annual General Meeting, which is scheduled to be held on or before 31 December 2025.
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HMT Limited filed this with the NSE as a statutory disclosure, categorised under corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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