MIVEN MACHINE TOOLS LTD.

Miven Machine Tools Ltd is a BSE-listed company (scrip code 522036) historically engaged in metal-cutting and grinding machine tools. Revenue from operations has effectively dried up in FY26, with Q2 FY26 and Q3 FY26 each reporting zero revenue from operations and the full year showing just Rs 17.10 lakhs of operating income, with total income of Rs 17.10 lakhs. At the 40th AGM on 12 September 2025, shareholders approved an amendment to the main objects of the Memorandum of Association to enter the business of manufacturing, assembling and designing all types of water-dispensing machines, and its Corporate Identity Number was changed from L29220TS1985PLC197616 to L36000TS1985PLC197616 in November 2025, reflecting a shift in its National Industrial Classification code. The company holds no plant, property, equipment or inventory, has no tangible manufacturing base on the balance sheet, and is no longer earning meaningful revenue from machine tools. Employee cost in FY26 stood at 146% of revenue and other operating expenses at 255.3% of revenue, resulting in a net loss of Rs 43.93 lakhs for the year. The statutory auditor flagged material uncertainty related to going concern, with total liabilities of Rs 629.19 lakhs against total assets of only Rs 33.51 lakhs and negative other equity of Rs 898.90 lakhs, against equity share capital of Rs 300.35 lakhs.