MESCO Steel Q1 loss continues, auditors flag going concern risk
Awaiting price reaction for this filing.
Board approved Q1FY27 results. Standalone revenue fell to zero from Rs 441.67 million YoY with net loss of Rs 120.96 million. Consolidated revenue dropped to Rs 1530.37 million with net loss of Rs 379.25 million. Auditors issued a qualified opinion and flagged going concern risk, noting no business activity to generate revenue and that net worth would turn negative. Supreme Court dismissed the company's curative petition on the Rs 924.75 crore mining compensation demand. Related party receivables stand at Rs 206.83 crore with no impairment assessment done.
Auditors flagged going concern risk and Supreme Court dismissed petition on Rs 924.75 crore mining liability. Material solvency concerns for shareholders.