The Exchange had sought clarification from Madhav Copper Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results submitted in XBRL with discrepancies -2. Financial results submitted is not as per format prescribed by SEBI The response of the Company is enclosed.
MCL · price
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Awaiting price reaction for this filing.
The NSE had raised two queries on Madhav Copper Limited's unaudited financial results for Q2 and H1 FY26 (ended September 30, 2025): errors in the XBRL submission and deviation from SEBI's prescribed format under Regulation 33 of LODR. The company admitted an inadvertent error in the comparative period figures shown in the Balance Sheet and has submitted revised results with correct figures. A revised XBRL filing was already made on December 10, 2025. Despite revenue nearly doubling year-on-year (Q2 net sales of ₹51.14 crore vs ₹25.73 crore), the company posted a small net loss of ₹20.38 lakh in Q2 FY26 against a profit of ₹26.67 crore in Q2 FY25, mainly due to a deferred tax liability adjustment. H1 FY26 net profit stood at ₹83.88 lakh. The statutory auditor (P G Hemani & Co.) issued an unqualified limited review report.
This is a procedural compliance correction rather than a fundamental change in business performance — the revised filing restores accuracy but does not materially alter the reported numbers. Shareholders should note the regulatory flag on filing quality, though the company says it will improve processes. The Q2 results show strong top-line growth but a sharp dip in profitability worth monitoring.