Consideration and Approval of Un-Audited Financial Results for the Quarter and Half Year ended on 30th September 2025
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Modern Steels Limited reported un-audited results for Q2 FY26 with total income of Rs 31 lakhs, down from Rs 47 lakhs in Q1 FY26 but up from Rs 22 lakhs in Q2 FY25. For the half year ended 30 September 2025, total income rose to Rs 78 lakhs from Rs 44 lakhs in H1 FY25. The company swung to a profit before tax of Rs 31 lakhs in H1 FY26, compared to a loss of Rs 7 lakhs in H1 FY25, with basic EPS of Rs 0.22 versus negative Rs 0.05 earlier. The company's only income is 'Other Income' as it previously sold its manufacturing assets under a slump sale and currently has no operational business. Statutory auditors APT & Co LLP issued an unmodified (clean) limited review report.
Despite the year-on-year profit turnaround, the company has ceased manufacturing operations and earns only other income (likely interest/commission), making the going concern assumption uncertain and future earnings sustainability questionable for shareholders.