Outcome of Board Meeting held on 29.05.2026
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Midland Polymers Limited held its Board Meeting on 29.05.2026 and approved the audited financial results for Q4 and year ended 31.03.2026. The company reported a net loss of Rs. 6.66 lakhs for Q4 FY26 compared to a loss of Rs. 1.31 lakhs in Q3 FY26. For the full year FY26, the company posted a loss of Rs. 14.07 lakhs, slightly improved from Rs. 14.77 lakhs loss in FY25. Basic and Diluted EPS stood at Rs. (2.10) for FY26. The company has negative net worth of Rs. 211.77 lakhs (accumulated losses of Rs. 278.65 lakhs against paid-up capital of Rs. 66.88 lakhs). Borrowings stand at Rs. 252.57 lakhs. The statutory auditors issued an unmodified opinion. The board also re-appointed M/s. Pavan Reddy & Associates as Internal Auditors for FY 2026-27.
The company continues to incur losses with eroded net worth, indicating financial distress. The minimal revenue from operations (Rs. 0.38 lakhs in Q4) suggests limited business activity. Shareholders should be cautious as the company is technically insolvent with negative equity.