Outcome of Board meeting dated 14/02/2026.
Awaiting price reaction for this filing.
Union Quality Plastics reported zero revenue from operations for the third quarter and nine months ended December 2025, with the company posting a net loss of Rs. 2.28 lakhs in Q3 FY26 and Rs. 7.85 lakhs in 9M FY26. The previous year (FY25 audited) had shown a profit of Rs. 545.31 lakhs, which appears driven by non-operational income (Rs. 604 lakhs of total income) rather than core business activity. The statutory auditor issued a qualified conclusion, flagging multiple serious issues including Rs. 278 lakhs of old doubtful receivables needing higher provisions, Rs. 158 lakhs of slow-moving stock without NRV assessment, Rs. 364 lakhs of unconfirmed old creditors, and Rs. 419 lakhs transferred as an advance to a related party (Ikon Associates) with no documentation of terms. The auditor also explicitly raised a going concern doubt, noting that the company's accumulated losses have fully eroded its net worth and current liabilities exceed current assets.
This is a deeply concerning filing for shareholders. The company has no operating revenue, recurring losses, a fully eroded net worth, a qualified auditor report, and an explicit going concern warning — all of which point to a high-risk, distressed micro-cap stock that could face trading restrictions or compliance action from exchanges.