Pursuan to Regulation 33 of SEBI (LODR) Regulations, 2015, we enclose the unaudited financial Results for the quarter and half year ended September 30, 2025, along with Limited Review Report
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MPL Plastics Limited reported unaudited results for the quarter and half year ended 30 September 2025. The company's auditor, M/s. Jain Vinay and Associates, 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 manufacturing operations at its Silvassa and Pune plants in FY24 and has applied for voluntary winding up under Section 10 of the Insolvency and Bankruptcy Code, 2016 (letter dated 10 July 2024). Revenue from operations is negligible at just Rs. 1 lakh for Q2 and Rs. 7 lakh for H1 FY26. The company reported a net loss of Rs. 12 lakh for the quarter and Rs. 27 lakh for the half year, with negative reserves of Rs. 1,629.77 lakh resulting in negative total equity of Rs. 379.92 lakh. Operating cash flow was negative at Rs. 30.45 lakh for H1 FY26.
This is an extremely distressed situation for shareholders. The company is in the process of winding up, has negative net worth, no operations, and the auditor has flagged a going concern risk. Shareholders face a high probability of substantial or total loss of their investment, and the stock is likely illiquid and high-risk.