in continuation of our letter dated November 03, 2025, we wish to inform you that the Board of Directors has approved the Unaudited Financial Results along with the Limited Review Reports ....
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MPL Plastics Limited's Board approved unaudited financial results for Q2 and H1 FY26. The company reported almost zero revenue (Rs. 1 lakh) for both the quarter and half-year, with a net loss of Rs. 12 lakhs in Q2 and Rs. 27 lakhs in H1 FY26. The statutory auditor issued an adverse opinion citing material uncertainty about the company's ability to continue as a going concern. The company had already shut down its Silvassa and Pune manufacturing plants during FY24 and sold its plant, machinery, and land/building. In April 2022, the Board and shareholders approved initiation of corporate insolvency resolution, and in July 2024 the company informed BSE about voluntary winding up under Section 10 of the IBC, 2016. The company's net worth is deeply negative at Rs. (379.92) lakhs.
This filing confirms MPL Plastics is effectively a non-operating, insolvent shell company. Shareholders face near-total loss of value as the voluntary winding-up process proceeds. The adverse audit opinion and ongoing IBC proceedings make this a high-risk penny stock with little prospect of recovery.