Please find enclosed herewith financial results for the quarter ended September 30, 2025
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Mahalaxmi Seamless Limited (Scrip: 513460) reported its Q2 FY26 and H1 FY26 results on November 13, 2025. Revenue from operations declined to ₹45.28 lakhs in Q2 FY26 from ₹49.08 lakhs in Q2 FY25 (about 7.7% drop), while H1 FY26 revenue fell to ₹90.44 lakhs from ₹94.08 lakhs (about 3.9% lower). Profitability improved sharply, with basic EPS rising to ₹0.37 for H1 FY26 versus ₹0.21 in H1 FY25 — roughly a 76% increase, and operating cash flow stayed positive at ₹39.48 lakhs. However, the balance sheet shows deeply negative other equity of ₹-555.57 lakhs, pushing total equity to ₹-27.43 lakhs, meaning accumulated losses still exceed share capital. The board also appointed Mr. Elangovan Ramnathan as an Independent Director and noted the resignation of Mr. Sushil Ashok Jain.
Despite the jump in EPS, the company is a micro-cap with annual revenue under ₹2 crore and a negative net worth, which is a significant red flag for shareholders. The improved profitability may help erode accumulated losses over time, but the stock remains a high-risk bet until equity turns positive.