What’s new

• Hemang Resources reported a full-year net loss of ₹42.92 lakhs for FY26.
• Annual revenue fell 8% to ₹808.08 lakhs from ₹880.18 lakhs a year earlier.
• Q4 revenue recovered to ₹684.32 lakhs after a quarter of zero sales.

Why it matters

For a company with a market cap under ₹20 crore, a full-year swing to a loss and an 8% revenue decline are material moves. The Q4 recovery in trading activity is notable only because the preceding quarter reported zero revenue, suggesting extreme volatility rather than a stable business.

What we’re watching

• Whether the Q4 trading activity into FY27 is sustained or another blip.
• How the internal auditor appointment after such a year plays into governance.
• The stock's reaction to a loss-making result for a nano-cap.

The full read

Hemang Resources, a nano-cap coal trader with a market cap under ₹20 crore, posted a full-year net loss of ₹42.92 lakhs for FY26. That is a swing from a ₹54.02 lakh profit a year earlier. The root cause is an 8% drop in annual revenue to ₹808.08 lakhs. The annual number, however, masks a wild ride within the year: a third quarter with zero revenue was followed by a Q4 that delivered ₹684.32 lakhs, or 85% of the annual total. The recovery in the final quarter is real, but the volatility is a red flag for a company this size. Alongside the results, the board re-appointed its internal auditor for the coming year.

Primary source: BSE · NSE