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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Modipon Limited submitted its unaudited financial results for the quarter and half year ended September 30, 2025, along with a Limited Review Report from B.M. Chatrath & Co LLP. The company discontinued its manufacturing operations permanently w.e.f. May 1, 2007, and all movable assets were disposed of by 2009-10, meaning the company has no active business. The balance sheet shows deeply negative reserves and surplus of approximately Rs. 10,352.67 lakhs as of Sept 30, 2025 (worsening from Rs. 9,174.51 lakhs as of March 31, 2025), resulting in a negative net worth. The auditor flagged numerous serious issues: balance confirmations not obtained from creditors/banks, unprovided interest of Rs. 1,000.54 lakhs on overdue payables since 2008, ongoing insolvency/litigation with Punjab National Bank (PNB) including past NCLT proceedings, unresolved One-Time Settlement matters, significant related-party exposures with Ashoka Mercantile Limited (AML), unredeemed 15% cumulative preference shares overdue since March 1996, and a pending Central Excise demand of Rs. 58.05 lakhs plus interest.
For shareholders, this is a high-risk, distressed situation — the company is a non-operating shell with massive accumulated losses exceeding Rs. 103 crore, negative net worth, and unresolved legal and tax disputes that could materially affect any residual shareholder value. The stock is speculative and not suitable for risk-averse investors.