This is to inform you that the Board of Directors of MAYUR LEATHER PRODUCTS LIMITED ('the company') at its meeting held on Friday, November 14, 2025 at the Registered Office of the Company ....
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Awaiting price reaction for this filing.
Mayur Leather Products' board approved its unaudited Q2 FY26 and H1 FY26 results on November 14, 2025. The company reported zero revenue from operations for the quarter and half year — it has no ongoing manufacturing activity. Other income of Rs. 50 lakhs and an exceptional gain of Rs. 31.65 lakhs (profit on sale of plant and machinery) pushed standalone profit after tax to Rs. 53.59 lakhs for H1 FY26, reversing the Rs. 17.94 lakh loss in H1 FY25. The auditor, Jain Paras Bilala & Co., issued an Adverse Review Report stating the results do not comply with Ind AS. Key red flags include a going-concern doubt (operating losses, no manufacturing, land auctioned by Canara Bank after the company was declared NPA), failure to file income tax returns for FY23 and FY24, non-transfer of unpaid dividends to IEPF, and missing bank statements and balance confirmations. Negative other equity stands at Rs. 359.68 lakhs on a standalone basis, and operating cash flow was negative at Rs. 7.84 lakhs.
This is a very negative filing for shareholders. The company is effectively non-operational, its assets have been auctioned by the bank, and the auditor has flagged serious going-concern doubts — meaning there is real doubt about whether the company can continue as a going business. The headline profit is misleading because it comes entirely from selling plant and machinery, not from operations. Investors should treat this stock as high risk and expect continued price pressure.