Please find enclosed the outcome of board meeting held on May 30, 2025

Going-concern doubtQualified audit opinionNet loss reportedRelated-party transactionsContingent liabilities increasedDebt to equity above the thresholdResults View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-5.1% vs market

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On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 5.0 pts less than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Modipon Limited's board approved audited financial results for FY25 showing a net loss of Rs 66.16 lakhs (adjusted loss of Rs 132.32 lakhs after audit qualifications) on total income of just Rs 4.82 lakhs. The company's net worth is deeply negative at Rs (9,174.50) lakhs, with other equity at Rs (10,332.17) lakhs, while borrowings stand at Rs 7,251.5 lakhs. Manufacturing operations have been permanently discontinued since May 2007. The auditor (B.M. Chatrath & Co LLP) issued a Qualified Opinion citing multiple issues including unprovided interest of Rs 1,000.54 lakhs to a supplier, missing balance confirmations, related party transactions with Ashoka Mercantile Limited, and ongoing PNB insolvency-related litigation.

Likely market impact

Shareholders face continued losses, deeply eroded net worth, and unresolved legacy liabilities spanning nearly two decades. The qualified audit report, sub-judice commercial tax and bank disputes, and negative equity suggest significant going concern risk with no operational revenue to service obligations.