reply of email received form BSE
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.1 pts more than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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MFL India has submitted its response to a BSE email flagging non-compliance with SEBI's Listing Obligations (Regulation 33) for the financial year ended March 31, 2025. The company has filed the required Statement on Impact of Audit Qualifications, addressing a qualified opinion from its auditor regarding non-provisioning for retirement benefits (gratuity and leave encashment). Management stated that with fewer than 10 employees, the Payment of Gratuity Act does not apply, and no actuarial valuation was obtained during the year. For FY25, the company reported total income of Rs. 5,275.44 lakh and a net loss of Rs. 82.71 lakh, an improvement from a Rs. 245.60 lakh loss in FY24. Total assets stood at Rs. 2,125.14 lakh, but net worth is deeply negative at Rs. -277.80 lakh, indicating accumulated losses have wiped out shareholders' equity. A significant income tax dispute of approximately Rs. 21 crore (AY 2018-19) is pending before the Commissioner of Income Tax (Appeals).
This is a procedural compliance filing rather than a market-moving event, but the underlying numbers are concerning for shareholders. The negative net worth, recurring losses, qualified audit opinion, and a large pending tax demand raise red flags about financial health, though the auditor found no going concern uncertainty for the next 12 months.