As required under Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith Annual Report for the Financial Year ended ....
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Mukat Pipes Limited has submitted its 38th Annual Report for the financial year ended March 31, 2025, along with the notice for its 38th AGM scheduled for Monday, September 29, 2025, to be held via video conferencing. Key financial highlights from the five-year summary show sales dropped sharply by about 39% to Rs. 38,526 thousand (from Rs. 62,970 thousand in FY24). The company swung back into losses with a Profit After Tax of Rs. (1,603) thousand, compared to a profit of Rs. 2,970 thousand in the previous year. EPS turned negative at Rs. (0.14) and the company declared no dividend. Net worth remains deeply negative at Rs. (69,970) thousand. The AGM notice includes a Special Resolution seeking shareholder approval to sell, lease, or otherwise dispose of the company's fixed assets (including land, factory building, plant and machinery) to raise working capital, and the appointment of M/s Yogita & Associates as Secretarial Auditor for five years from FY2025-26.
Continued losses, negative net worth, and falling sales point to ongoing financial stress. The proposed asset disposal resolution signals the company is trying to raise liquidity by selling core assets, which is a worrying sign for shareholders about the company's financial health and ability to continue as a going concern.