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MPL Plastics Q2 FY27 results: net loss widens to ₹0.13 crore
MPL Plastics Limited reported standalone results for Q2 FY27 with revenue of ₹0 crore and a net loss of ₹0.13 crore. The loss was ₹0.01 crore higher than Q2 FY26 but unchanged from Q1 FY27, while the auditors raised a material uncertainty related to going concern and reported an adverse opinion.
Key points
- Q2 FY27 standalone revenue was ₹0 crore, unchanged from Q2 FY26 and Q1 FY27.
- MPL Plastics reported a net loss of ₹0.13 crore in Q2 FY27, against a net loss of ₹0.12 crore in Q2 FY26.
- Total expenses were ₹0.13 crore, with employee cost of ₹0.07 crore and other expenses of ₹0.07 crore; there was no exceptional item.
- The auditors reported a material uncertainty related to going concern and an adverse opinion on the company’s ability to continue as a going concern.
How did MPL Plastics perform in Q2 FY27?
MPL Plastics’ standalone Q2 FY27 revenue was ₹0 crore, unchanged from Q2 FY26 and Q1 FY27. Total expenses were ₹0.13 crore in the quarter. The company reported a net loss of ₹0.13 crore, against a net loss of ₹0.12 crore in the year-ago quarter and an unchanged net loss from Q1 FY27.
EBITDA was ₹0.13 crore in absolute terms in the reported data, unchanged from Q2 FY26 and Q1 FY27; an EBITDA margin was not provided. Profit before tax was ₹0.13 crore in Q2 FY27, down ₹0.01 crore from Q2 FY26 and unchanged from Q1 FY27. Basic EPS was ₹0.10.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0 | 0 | 0 | ||
| Other income | 0 | 0 | 0.01 | ||
| Total expenses | 0.13 | 0.13 | 0.13 | +0.0% | +0.0% |
| EBITDA | −0.13 | −0.13 | −0.13 | ||
| Profit before tax | −0.13 | −0.13 | −0.12 | ||
| Tax | 0 | 0 | 0 | ||
| Net profit | −0.13 | −0.13 | −0.12 |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in MPL Plastics' costs and profit?
Against Q2 FY26, total expenses were unchanged at ₹0.13 crore. Employee cost was ₹0.07 crore, up ₹0.01 crore or 16.7%, while other expenses were ₹0.07 crore and finance costs and depreciation were unchanged. Other income fell by ₹0.01 crore to ₹0 crore, and tax was unchanged. There was no exceptional item.
The filing states that the company closed its operations at the Silvassa and Pune plants during 2023-24 and that manufacturing operations had stopped completely after the Pune plant and machinery, land, land and building, and warehouse were sold. The filing does not provide a further explanation for the quarter’s expense movements.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.07 | 0.06 | +0.01 | +16.7% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.07 | 0.07 | 0 | +0.0% |
| Total expenses | 0.13 | 0.13 | 0 | +0.0% |
| Other income | 0 | 0.01 | −0.01 | |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, MPL Plastics reported revenue of ₹0 crore, unchanged from H1 FY26. Total income was ₹0 crore against ₹0.01 crore in H1 FY26. Profit before tax and net loss were each ₹0.26 crore, compared with ₹0.27 crore in H1 FY26.
Basic EPS for H1 FY27 was ₹0.21, compared with ₹0.22 in H1 FY26. The filing’s half-year statement showed total expenditure of ₹0.26 crore in H1 FY27 and ₹0.27 crore in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0 | 0 | |
| Profit before tax | −0.26 | −0.27 | |
| Net profit | −0.26 | −0.27 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹2.34 crore, compared with ₹2.3 crore at 31 March 2026. Total equity was negative ₹3.95 crore, compared with negative ₹3.7 crore, while borrowings were ₹4.22 crore against ₹3.92 crore. Cash was ₹0.05 crore at both dates.
Trade payables were ₹0.79 crore at 30 September 2026, compared with ₹0.81 crore at 31 March 2026. Inventories and trade receivables were ₹0 crore at both dates. H1 FY27 operating cash flow was negative ₹0.3 crore, investing cash flow was ₹0 crore and financing cash flow was ₹0.3 crore; the same respective figures were reported for H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2.34 | 2.30 |
| Total equity | −3.95 | −3.70 |
| Borrowings | 4.22 | 3.92 |
| Cash and equivalents | 0.05 | 0.05 |
| Inventories | 0 | 0 |
| Trade receivables | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.30 | −0.30 |
| Cash from investing | 0 | 0 |
| Cash from financing | 0.30 | 0.30 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has MPL Plastics done over the last 8 quarters?
Across the reported quarters, revenue remained ₹0 crore from Q3 FY25 through Q2 FY27. The lowest net loss in the series was a profit of ₹0.16 crore in Q4 FY26, while the largest loss was ₹0.15 crore in Q3 FY25 and Q1 FY26. Q2 FY27 reported a net loss of ₹0.13 crore.
The loss narrowed from ₹0.15 crore in Q1 FY26 to ₹0.12 crore in Q2 FY26 and ₹0.06 crore in Q3 FY26, followed by a profit of ₹0.16 crore in Q4 FY26. It then moved to a net loss of ₹0.13 crore in Q1 FY27 and remained at ₹0.13 crore in Q2 FY27. EBITDA margin figures were not provided for the quarters.
What did the auditors point out?
The independent auditor reported a “Material Uncertainty Related to Going Concern” and stated that the company’s closed-down operations indicated that a material uncertainty existed that may cast significant doubt on its ability to continue as a going concern. The auditor reported an adverse opinion on the company’s ability to continue as a going concern.
The review report also stated that nothing had come to the auditor’s attention that caused it to believe the accompanying statement did not disclose the information required under the applicable listing regulations or contained a material misstatement. The report was issued under SRE 2410, covering a limited review of interim financial information.
How did MPL Plastics shares react?
Earlier results-day reactions were mixed: the stock fell 3.0% on 12 August 2026, was unchanged on 28 May 2026 and fell 0.7% on 10 February 2026. It rose 0.1% on 11 November 2025 and 1.3% on 14 August 2025; earlier moves included a rise of 5.1% on 14 August 2024 and 3.2% on 24 May 2024.
| After the filing | Stock | Packaging median |
|---|---|---|
| 15 minutes | −0.9% | |
| 30 minutes | −0.9% | |
| Reaction day | −1.3% | +0.0% |
| Next day | −1.4% | +0.8% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 12 August 2026 | −3.0% |
| 28 May 2026 | +0.0% |
| 10 February 2026 | −0.7% |
| 11 November 2025 | +0.1% |
| 14 August 2025 | +1.3% |
| 28 May 2025 | −1.3% |
| 14 August 2024 | +5.1% |
| 24 May 2024 | +3.2% |
Source: MarketPing price-reaction measurement.
How did other Packaging companies do?
Twenty-four other Packaging companies had filed for the quarter by 4 November 2026. Their median revenue growth was 20.2%. The number of peers that grew revenue more slowly than MPL Plastics and the number that grew faster were not provided in the supplied figures, so the split cannot be stated.
| MPL Plastics revenue growth (YoY) | not comparable |
|---|---|
| Median of 24 other Packaging companies | +20.2% |
| Companies whose net profit rose | 14 of 24 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was MPL Plastics' revenue in Q2 FY27?
Revenue from operations was ₹0 crore, against ₹0 crore in Q2 FY26 (standalone).
Did MPL Plastics make a profit in Q2 FY27?
No. It reported a net loss of ₹0.13 crore, against a net loss of ₹0.12 crore in Q2 FY26.
How did MPL Plastics shares react to the Q2 FY27 results?
On the reaction day the stock moved −1.3% from the previous close; the median Packaging stock moved +0.0%.
When did MPL Plastics announce its Q2 FY27 results?
On 2 November 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for Approval Of Unaudited Financial Results For The Quarter & Half-Year Ended 30Th September 2026 (BSE, 2 November 2026) · PDF
- Approval Of Unaudited Financial Statements For Quarter & Half-Year Ended September 2026 (BSE, 2 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Newspaper Publication (BSE, 3 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Newspaper Publication (BSE, 3 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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