Results for the quarter ended 30.06.2025
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Midland Polymers reported nil revenue from operations and nil other income for Q1 FY26, with a net loss of Rs. 0.50 million (EPS of Rs. -0.75), a slight improvement compared to a Rs. 1.34 million loss in Q4 FY25 and Rs. 0.89 million loss in Q1 FY25. Total expenses came in at Rs. 0.50 million, mostly employee costs (Rs. 0.08 million) and other expenses (Rs. 0.43 million). Critically, the company has no active business revenue and Note 3 explicitly states the results have been prepared on a going concern basis only because promoters have given a comfort letter to support any future business activity. The auditor (Pundarikashyam and Associates) issued an unmodified review report.
The stock remains effectively a non-operating shell with zero top line and continuing losses; shareholder value hinges entirely on whether promoters actually restart a business, as the going concern assumption depends on their comfort letter rather than any current operations.