Pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, the Board of Directors of the Company in its meeting held on Wednesday, 28th May, 2025 at 04:30 P.M at the corporate office of ....
Awaiting price reaction for this filing.
MPS Pharmaa Limited (formerly Advik Laboratories Limited) reported audited financial results for FY25 showing total income of Rs 4.77 lakhs (down from Rs 9.37 lakhs last year), with no revenue from operations at all during the year. The company posted a net loss of Rs 89.79 lakhs for FY25 compared to Rs 83.10 lakhs loss in FY24. The statutory auditor issued a Qualified Opinion with two repetitive qualifications (since 2017-18) regarding unverified investments worth Rs 53.80 lakhs and stalled capital work-in-progress of Rs 2.91 crore. The auditor also drew an Emphasis of Matter about zero revenue from operations. Management stated the company is awaiting FDA renewal of drug manufacturing licences and is exploring new business deals to restart operations. Total equity is just Rs 108 lakhs against qualified borrowings of Rs 7.46 crore, and BSE listing fees for four years remain unpaid, with shares trading on a trade-for-trade basis.
This is a deeply negative filing. The company is effectively non-operational with no revenue, persistent losses, a qualified audit opinion with repetitive qualifications since 2017-18, and severe going-concern risk evidenced by negative operating cash flow of Rs 57 lakhs and near-zero equity relative to debt. Shareholders face significant risk of value erosion, and the stock remains restricted to trade-for-trade settlement on BSE due to unpaid listing fees.