Un-audited Standalone and consolidated Financial Result for the quarter ended 30th June, 2025.
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Modulex Construction Technologies reported nil revenue from operations for the third straight quarter, with total standalone income of just ₹41.50 lakhs (entirely from other income) against expenses of ₹73.88 lakhs, resulting in a standalone net loss of ₹32.37 lakhs (EPS ₹-0.05), an improvement from the ₹56.34 lakh loss in Q4 FY25. On a consolidated basis, total income fell sharply to ₹3.95 lakhs (from ₹1,282.60 lakhs in Q1 FY25), while expenses of ₹422.07 lakhs led to a consolidated net loss of ₹418.12 lakhs versus a profit of ₹1,118.06 lakhs a year ago. The subsidiary Modulex Modular Buildings (MMBPL) has restarted construction at its Indapur factory after receiving an MIDC land re-allotment in June 2024 and a 95-year lease in August 2024, with trial production underway. The company also collected a further ₹1,524.98 lakhs as first-call money on its ₹6,292.49 lakh convertible warrants issue, taking total receipts to ₹3,198.11 lakhs. The statutory auditor (Dhadda & Associates) issued an unmodified review report but flagged multiple Emphasis of Matter items, including material uncertainty on going concern for the holding company and both subsidiaries (MMBPL and Give Vinduet Windows & Doors), TDS of ₹52.17 lakhs and GST-RCM of ₹29.45 lakhs not deposited by MCTL, and a contingent liability of ₹62.15 lakhs from a former independent director's disputed fees claim.
With zero operating revenue, ongoing losses and explicit going-concern flags from the auditor for the company and its key subsidiary, shareholders should brace for continued stock-price pressure despite the restart of the subsidiary's project and promoter funding support; the warrant-related equity infusion is the main near-term positive for solvency.