Unaudited considered and apporved standalone and consolidated financial results for the quarter ended 30.09.2025

Mideast Integrated Steels reported weak H1 FY26 results with standalone revenue of Rs 441.67 Mn (vs nil in H1 FY25) but a standalone net loss of Rs 292.01 Mn, widening from Rs 280.09 Mn loss a year ago. On a consolidated basis, revenue declined to Rs 2,762.52 Mn from Rs 3,124.13 Mn in H1 FY25, while net loss widened sharply to Rs 1,008.45 Mn (vs Rs 1,324.28 Mn profit in H1 FY25, which included Rs 858.92 Mn in prior-period income). The auditor issued a qualified opinion flagging multiple serious issues: no insurance on fixed assets worth Rs 1,562.02 Cr, Rs 118.45 Cr of stuck trade receivables with no provision, unconfirmed bank balances, GST returns not filed since November 2020, disputed tax dues of Rs 169.40 Cr, and an unpaid Supreme Court-imposed compensation of Rs 924.75 Cr for which no provision has been made. The auditor explicitly stated that considering the company's lack of business activity and potential liability, it may not be a going concern.