Audited Financial Results for the quarter and year ended 31/03/2025.
Awaiting price reaction for this filing.
Union Quality Plastics reported zero revenue from operations for FY25, with its entire Rs. 603 lakh income coming from 'other income', against Rs. 578 lakh in FY24. Profit before tax stood at Rs. 386.33 lakh versus a loss of Rs. 119.47 lakh in the prior year, though this appears driven by non-operating items rather than core business activity. The company's net worth is fully eroded, with negative other equity of Rs. 856.28 lakh, and current liabilities exceed current assets. The statutory auditor (Sagar & Associates) issued a Qualified Opinion flagging multiple serious issues: Rs. 355.35 lakh in unrecovered old debtors, Rs. 158.06 lakh of slow-moving inventory with no NRV assessment, Rs. 396.93 lakh in old creditors without confirmations, and a Rs. 419.25 lakh advance to a related party (Ikon Associates) with no documentation. The auditor explicitly noted a material uncertainty about the company's ability to continue as a going concern.
This is a deeply negative filing — no operating business, fully eroded net worth, a qualified audit opinion with going concern doubts, and significant unresolved related party advances. The stock carries serious solvency and operational risk and is likely to face sharp negative pressure; investors should treat this as a high-risk, speculative situation.