Outcome of Board meeting held on 11.11.2025 under Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015
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Midland Polymers Limited reported unaudited financial results for Q2 FY26 (ended 30 Sep 2025) and H1 FY26. The company posted a net loss of Rs. 0.12 million in Q2 FY26, improving from a Rs. 0.50 million loss in Q1 FY26. For H1 FY26, the net loss narrowed to Rs. 0.61 million compared to Rs. 1.17 million in the same period last year. Revenue from operations appears negligible or nil across all reported periods — the company's activity is described as trading-only with no other reportable segments. The balance sheet shows total equity of negative Rs. 20.38 million, with accumulated losses of Rs. 27.07 million, and current borrowings of Rs. 26.40 million far exceeding total assets of Rs. 6.21 million. The auditor issued an unmodified review report.
Despite the narrowing of losses, the company remains in a deeply distressed financial position with negative net worth, no meaningful revenue, and dependence on unsecured loans to fund operations — a significant going concern risk for shareholders. The stock is likely to remain thinly traded and under pressure given the eroded equity base.