The Exchange be hereby informed that Mipco Seamless Rings (Gujarat) Limited has in its Board Meeting dated 30th May 2026, inter-alia, considered and approved Audited Financial Results of ....
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Mipco Seamless Rings (Gujarat) Limited reported audited financial results for FY ended 31st March 2026. The company achieved total income of Rs. 116.89 lakhs for the quarter and Rs. 275.11 lakhs for the full year. Profit After Tax turned positive at Rs. 10.39 lakhs compared to a loss of Rs. 10.48 lakhs in the previous year. However, the Balance Sheet shows negative equity of Rs. 171.71 lakhs, and cash flow from operations was significantly negative at Rs. 71.11 lakhs. Short-term borrowings stood at Rs. 72.70 lakhs. The Statutory Auditor (M/s. Bijan Ghosh & Associates) issued an unmodified (clean) opinion on the financial results.
While the company returned to profitability this year with over 20% revenue growth, the persistent negative equity and negative operating cash flow raise serious concerns about financial stability and ability to meet obligations.