MT Educare Limited has informed the Exchange regarding 'Update on AGM and Book Closure for the purpose of 19th AGM'.
MTEDUCARE · price
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Awaiting price reaction for this filing.
MT Educare's board meeting on August 13, 2025 was chaired by the Resolution Professional (Mr. Arihant Nenawati), as the company remains under Corporate Insolvency Resolution Process (CIRP) since December 16, 2022. The meeting approved unaudited standalone and consolidated financial results for Q1 FY2025-26 (quarter ended June 30, 2025), along with the 19th AGM notice scheduled for September 24, 2025 via video conferencing. Book closure was set for September 18-24, 2025. Standalone results showed revenue from operations falling to Rs. 378.58 lakhs (vs Rs. 616.83 lakhs in Q1 FY25) with a net loss of Rs. 150.35 lakhs; consolidated net loss widened sharply to Rs. 1,368.03 lakhs. The statutory auditors (MGB & Co. LLP) issued a 'Disclaimer of Conclusion' on the results, citing multiple unresolved issues including NPA-classified loans, negative net worth, and going concern uncertainty. Re-appointments of statutory, secretarial, cost, and internal auditors were also approved.
Continued revenue decline, widening consolidated losses, and a disclaimer of audit opinion reinforce significant uncertainty for shareholders; the stock outlook remains tied to the pending NCLT approval of the resolution plan, with no visibility on creditor recoveries or going concern status.