We wish to inform the Exchange that the Company in its board meeting held on 30th May 2026, inter-alia, considered and approved the Financial Results for the quarter and financial year ....
Awaiting price reaction for this filing.
Mipco Seamless Rings (Gujarat) Limited has reported audited financial results for FY2026 ended 31 March 2026. The company swung from a loss of Rs 10.48 lakhs to a profit of Rs 10.39 lakhs before working capital changes. However, the balance sheet reveals serious concerns with negative equity of Rs 171.71 lakhs and total assets of only Rs 11.38 lakhs. Operating cash flow was deeply negative at Rs 71.41 lakhs, though cash increased to Rs 11.38 lakhs from Rs 2.90 lakhs due to borrowings. Non-current liabilities stand at Rs 160.04 lakhs. The statutory auditor M/s Bijan Ghosh & Associates issued an unmodified (clean) opinion on the financial results.
The company continues to face severe financial stress with negative net worth and heavy reliance on debt to sustain operations. Despite returning to profit, the structural issues including negative equity and cash burn may raise going concern doubts despite the clean audit opinion.