Board of Directors of the Company at the Meeting held today i.e. July 31, 2025-1.approved Unaudited Financial Results of the Company for the 1st Quarter and three months ended June 30, ....
Awaiting price reaction for this filing.
Mackinnon Mackenzie reported a net loss of ₹27.09 lakhs for Q1 FY26 (vs profit of ₹11.06 lakhs in Q1 FY25), as revenue from operations fell to ₹4.22 lakhs from ₹5.41 lakhs and total expenses surged to ₹31.79 lakhs. Accumulated losses stand at a staggering ₹87,164.11 lakhs, leaving reserves deeply negative at ₹(86,941.75) lakhs. The Board also appointed M/s Nishtha Khandelwal and Associates as new Secretarial Auditor for 5 years, replacing the previous firm. The statutory auditor issued a Qualified Opinion and flagged a Material Uncertainty related to going concern, noting massive bank debt of ₹863.41 crores now transferred to a private lending company. The company's shares have been suspended from trading on stock exchanges since 2005 due to unpaid listing fees.
Shareholders should note the company is under severe financial distress with negative net worth, a qualified audit, and going concern uncertainty — though management cites a support letter from the lending company as a lifeline. The shares remain suspended from trading, so there is no active market for investors.