Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company in its meeting held today i.e. Thursday, ....
Awaiting price reaction for this filing.
The Board of Mackinnon Mackenzie & Company, at its meeting on February 12, 2026, approved the unaudited standalone financial results for the quarter and nine months ended December 31, 2025, along with a Qualified Limited Review Report from the auditor. Revenue from operations fell to Rs 4.22 lakhs in Q3 FY26 from Rs 5.27 lakhs in Q3 FY25, and for the 9-month period declined to Rs 12.67 lakhs from Rs 15.18 lakhs. However, a sharp jump in other income (Rs 52.81 lakhs in Q3 vs Rs 1.61 lakhs YoY) pushed the company to a net profit of Rs 38.22 lakhs for the quarter (vs a loss of Rs 13.19 lakhs YoY). The auditor flagged material uncertainty about the company's ability to continue as a going concern, citing accumulated losses of Rs 87,135 lakhs and a deeply negative net worth of Rs 86,942 lakhs. A massive debt of Rs 868.10 crores is owed to a 'Lending Company,' with court decrees permitting sale of the company's properties to recover dues. The company's shares remain suspended from trading on BSE since 2005 due to non-payment of listing fees.
This is a deeply distressed company: the auditor has issued a qualified opinion and a going-concern qualification, net worth is heavily negative, and there are multiple large pending disputes (Rs 868 cr debt decree, Rs 28.85 cr lease demand, Rs 1.46 cr property tax matter). The quarterly profit is driven entirely by one-off other income, not core operations. Shareholders face very high risk with shares already suspended from trading.