The board of Directors in their meeting held on 28.05.2025 have approved the Audited quarterly and year ended 31.03.2025 financials.
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MPL Plastics' board approved audited results for Q4 and FY25 on May 28, 2025. The company had shut down its manufacturing operations at Silvassa and Pune plants in 2023-24 after selling its plant, machinery, land and warehouse, leaving it with virtually no operating business. The statutory auditor has flagged a 'Material Uncertainty Related to Going Concern,' noting serious doubt about the company's ability to continue. The board and shareholders had earlier approved initiating the Corporate Insolvency Resolution Process (CIRP), already intimated to BSE in July 2024. FY25 total income was Rs 1,216 lakhs (essentially flat vs Rs 1,215 lakhs last year), but the company swung to a net loss of Rs 48 lakhs compared to a Rs 926 lakhs profit in FY24, which was inflated by exceptional gains on asset sales. Shareholder equity is deeply negative at Rs (353) lakhs, and operating cash flow was negative at Rs (60) lakhs.
This is a serious red flag for shareholders — the company's manufacturing business has effectively wound down, insolvency proceedings have been approved, and the auditor has questioned whether the company can continue as a going concern. Existing shareholders face a high risk of total loss, and the stock is highly speculative at this stage.