The Board of Directors in their meeting held today have approved the Audited Standalone Financial Results for the financial year 2025-26 ended on 31st March, 2026.Pursuant to Regulation ....
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Awaiting price reaction for this filing.
Promact Plastics Ltd reported a massive 82% revenue decline in FY 2025-26, with revenue from operations falling to Rs. 16.14 lakh from Rs. 91.43 lakh in the previous year. The company swung into a net loss of Rs. 72.42 lakh compared to a profit of Rs. 12.56 lakh in FY 2024-25. The balance sheet shows negative networth of Rs. 255.18 lakh, with accumulated reserves at negative Rs. 906.36 lakh. Finance costs remained high at Rs. 43.99 lakh against very low revenue. The statutory auditors issued an unmodified (clean) opinion on the financial results. Additionally, the company appointed new secretarial auditors (Kashyap R. Mehta & Partners) to fill a vacancy caused by the resignation of Nishant Pandya & Associates. No defaults on loans or debt securities were reported.
This is a severely negative development. The company faces a critical financial situation with negative networth, massive revenue decline, and continued losses. The stock is likely to be under significant pressure as the company struggles with minimal revenue against high fixed finance costs. The negative equity position raises serious going concern questions despite the clean audit opinion.