Un-audited results as on 30.09.2025
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Midland Polymers reported a net loss of Rs 0.12 million in Q2 FY26 (vs Rs 0.29 million loss in Q2 FY25), narrowing from a Rs 0.50 million loss in Q1 FY26. For the half-year, the loss stood at Rs 0.61 million versus Rs 1.17 million in the same period last year, with EPS of (Rs 0.91). The company appears to have virtually no revenue from operations and runs only trading activities. The balance sheet shows negative equity of Rs 20.38 million (other equity deeply negative at Rs 27.07 million) against paid-up capital of just Rs 6.69 million. Current borrowings have risen to Rs 26.40 million from Rs 23.75 million, while operating cash flow was negative at Rs 0.51 million. The auditor issued a clean limited review report with no qualifications.
Shareholders face a financially distressed company with eroded equity, mounting losses funded by debt, and negative operating cash flow. Despite narrower losses, the stock carries significant going-concern risk, and any further deterioration could threaten solvency.