Miven Machine Tools Q1 FY27 Results: Loss of Rs 15.61L, Going Concern Doubt
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Awaiting price reaction for this filing.
Miven Machine Tools reported Q1 FY27 revenue of just Rs 3 lakh, down sharply from Rs 17.10 lakh a year ago. Loss stood at Rs 15.61 lakh versus Rs 16.64 lakh in Q1 FY26. Auditor issued a qualified conclusion as the company did not provide for Rs 2.81 lakh interest on related-party borrowing from Miven Mayfran Conveyors. Net worth is fully eroded with outside liabilities of Rs 646.30 lakh against assets of Rs 34.99 lakh, raising material uncertainty on going concern. Business now focuses on water dispensers.
Severe financial distress with fully eroded net worth, going concern doubt, and related-party interest not provided. Very high risk for shareholders.