Minal Industries Ltd

Share price movement clarification

• No UPSI or undisclosed information is available that may affect share price.
• Movement appears market-driven and not due to company-specific announcements.
• Reiterates commitment to timely disclosures under applicable regulations.
• Future disclosures will be promptly made as material events arise.

Promoter shareholding update

• Promoter and director Shrikant Jesinglal Parikh acquired 31,933 equity shares via open market on Aug 18, 2026.
• Post-acquisition holding rises from 26,76,843 shares (1.39%) to 27,08,776 shares (1.41%).
• Increase amounts to approximately 0.02% of paid-up equity capital.

Financial results approved

• Unaudited standalone results for quarter ended 30 June 2026 approved.
• Unaudited consolidated results for quarter ended 30 June 2026 approved.

Regulatory fines

• BSE fine for Regulation 33 non-compliance: Rs 94,400; paid 9 July 2026.

Going concern and impairment

• Going concern basis maintained despite Rs 505.46 lakh group losses.
• Impairment provisions: Rs 600 lakh on investments; Rs 1,200 lakh on loans to subsidiary.

Intercompany interest

• Interest income Rs 31.34 lakh not accrued from subsidiary due to uncertainty.

Legal proceedings

• NCLT dispute on holding company share ownership; no financial implication expected.

Meeting Details

• Date: 13 August 2026; Time not disclosed; Venue: 603 L Minal Co-Op Hsg So Ltd, Off Sakivihar Road, Andheri-East, Mumbai 400072.

Key Agenda Items

• Approve IND-AS unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Any other business with the chair's permission.

Other Notes

• Trading window closed from 1 July 2026 until 48 hours after results declaration.

Dematerialisation and listing status

• Dematerialisation requests processed; confirmations of acceptance/rejection were communicated to the depositories.
• Securities dematerialised have been listed on the stock exchanges where existing securities are listed.
• Physical certificates were mutilated and cancelled after verification; depository name substituted as registered owner within the timeline.

Standalone FY26 audit

• Audited standalone results cover quarter and year ended 31 March 2026.
• Auditor issued true and fair opinion on standalone financial statements.
• Standalone report includes material uncertainty related to going concern.

Standalone financials

• Standalone accumulated losses reached Rs. 2,216.82 lakhs in FY26.
• Standalone cash loss was Rs. 22.71 lakhs in FY26.
• Standalone cash loss was Rs. 61.38 lakhs in FY25.
• Inventories stood at Rs. 631.92 lakhs at 31 March 2026.
• Unclaimed dividends of Rs. 1.89 lakhs remained unpaid to IEPF.

Standalone risks

• Interest income on loan to Minal Infojewels Limited was not accrued.
• Subsidiary could not pay interest until its financial condition improves.
• NCLT petition over equity share ownership remains pending.
• Auditor noted no financial implication expected from the share dispute.

Standalone audit observations

• Auditor highlighted overdue loans of Rs. 1,464.95 lakhs.
• Overdue loans comprised Rs. 1,187.96 lakhs principal and Rs. 276.99 lakhs interest.
• Auditor said reasonable steps were not taken to recover overdue amounts.
• Internal financial controls report carried a disclaimer of opinion.
• Auditor noted fixed asset records were not properly maintained.

Consolidated FY26 audit

• Audited consolidated results cover the year ended 31 March 2026.
• Auditor issued true and fair opinion on consolidated financial statements.
• Consolidated report also highlights material uncertainty related to going concern.

Consolidated financials

• Group profit was Rs. 73.27 lakhs in FY26.
• Group loss was Rs. 414.43 lakhs in FY25.
• Consolidated retained earnings showed accumulated losses of Rs. 603.94 lakhs.
• Consolidated inventories stood at Rs. 5,662.80 lakhs at 31 March 2026.

Consolidated audit observations

• Auditor noted audit trail was not operational for all relevant transactions.
• Internal financial controls report carried a disclaimer of opinion for the Group.
• Unaudited subsidiary partnership firm had Rs. 30.40 lakhs assets and Rs. 0.25 lakhs loss.

Business model

• Minal Industries Limited operates with a subsidiary, Minal Infojewels Limited.
• The group also had an overseas subsidiary, Minal International FZE, which was wound up.