Outcome of Board meeting held on 30.07.2025 under Regulation 33 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015
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Midland Polymers Ltd reported nil revenue from operations for the quarter ended 30 June 2025, marking another period with no business income. Total expenses stood at Rs. 0.50 million (mainly employee benefits of Rs. 0.08 million and other expenses of Rs. 0.43 million), resulting in a net loss of Rs. 0.50 million. The loss narrowed from Rs. 0.89 million in the same quarter last year. Loss per share improved to Rs. (0.75) from Rs. (1.33) year-on-year. The Board has prepared the results on a going concern basis, explicitly relying on a comfort letter from the promoters for any future business continuity. The statutory auditor (Pundarikashyam and Associates) issued an unmodified review report with no qualifications.
The company continues to have no operating revenue and is incurring losses, with viability entirely dependent on promoter support. For shareholders, this signals a significant going concern risk and limited near-term prospects for any operational revival or shareholder value creation.