Mpl Plastics Ltd

Financial highlights

• Total revenue for FY2025-26: ₹39.49 Lakhs.
• Profit before tax: ₹-16.99 Lakhs.
• Profit after tax: ₹-16.99 Lakhs.
• Earnings per share: ₹-0.14.
• Dividend for FY2025-26: not declared.
• Total assets: ₹230.15 Lakhs.
• Shareholders' funds: ₹-369.53 Lakhs (negative).
• Net debt: ₹467.64 Lakhs.
• Net cash from operating activities: ₹-49.19 Lakhs.
• Cash and cash equivalents: ₹5.28 Lakhs.
• Bank deposits: ₹18.58 Lakhs.
• Share capital: ₹1,249.85 Lakhs.

Operations and going concern

• Silvassa and Pune plants ceased operations in 2023-24.
• Going-concern risk due to cessation of manufacturing.
• Corporate insolvency resolution process approved in 2022; ongoing.
• No subsidiary; Thermoware is the sole segment.
• No material post-year changes or commitments.

Capital structure and liquidity

• Equity share capital: 12,497,100 shares; paid-up ₹1,249.85 Lakhs.
• Short-term borrowings: ₹391.55 Lakhs; long-term borrowings: nil.
• Cash and bank balances: ₹5.28 Lakhs; fixed deposits: ₹18.58 Lakhs.
• Shareholders' negative equity: ₹-369.53 Lakhs.
• Total assets: ₹230.15 Lakhs.
• Net debt to capital ratio: 27.23%.
• Dividend: none for FY2025-26.

Governance and board

• Board of four: 1 executive, 1 woman; 2 independent.
• Four board meetings held in 2025-26.
• Independent Directors: Malpani and Negi; one meeting held Feb 2026.
• Audit Committee: three members; met four times.
• Secretarial audit: adverse remark on promoter listing; listing pending.
• CSR Committee reconstituted; CSR expenditure not required due to losses.

Audits and internal controls

• Auditors: Jain Vinay & Associates; five-year term proposed.
• Internal financial controls considered adequate; no material weaknesses.
• Secretarial audit reports overall compliance; one adverse remark noted.
• Audit Committee oversees internal controls and governance.

Market and shareholder data

• Stock price range 2025-26: high ₹10.52, low ₹6.66.
• Dematerialised shares: 83.99%; physical: 16.00%.
• Scrip code 526143; ISIN INE343A01016.
• AGM 34th: 28 Sep 2026, Regd office Thane.
• Annual results filed with exchanges; listed on BSE.

Outlook and risks

• Management reviewing winding-up options; ongoing viability assessment.
• Material going-concern risk due to sustained closure of operations.
• Contingent liabilities include tax disputes totaling ₹2,608.50 Lakhs.
• No crypto exposure; no undisclosed income reported.
• Litigation with ITAT partially favorable; other cases pending in Mumbai High Court.

AGM and resolutions

• 34th AGM set for 28 September 2026 at the registered office.
• Ordinary business includes adoption of FY2025-26 standalone financials, reappointment of Mrs. Radhika Rane, and auditors.
• Remote e-voting window runs from 25 to 27 September 2026.

Governance changes

• CFO Milan Bhaya resigned 20 May 2025; Pankaj Bhaya appointed CFO 28 May 2025.
• Board comprises four directors, including one Woman Non-Executive and two Independent directors.

Financials and going concern

• Revenue for 2025-26 was 39.49 lakh; loss after tax 16.99 lakh.
• Going concern risk due to plant closures; corporate insolvency resolution process approved in 2022.
• Dividend for FY2025-26 not recommended.

Capital and liabilities

• Paid-up capital Rs 1,249.85 lakh; net worth negative at Rs 369.53 lakh.
• Contingent liabilities: tax disputes Rs 2,608.50 lakh; excise Rs 464.79 lakh; bank guarantee Rs 19.35 lakh.

AGM Details

• AGM date/time: 28 September 2026 at 11:30 AM IST, physical at registered office.
• Record date and cut-off: 21 September 2026 for voting eligibility.
• Book closure: 21–27 September 2026 (both days inclusive).

AGM Details

• AGM date and time: 28 September 2026 at 11:30 IST.
• Mode: physical AGM at the Registered Office.
• Notice circulated electronically to members with registered emails; website copy available.

Results update

• Board approved the quarterly unaudited financial results for the period ended 30 June 2026.
• Board meeting held on 12 August 2026 approved and took the results on record after Audit Committee review.

Financial results approved

• Board approved the quarterly unaudited results for the period ended 30 June 2026 after Audit Committee review.

Dematerialisation status

• Dematerialisation requests processed; securities confirmed to depositories and listed on exchanges.
• Physical certificates for dematerialisation mutilated, cancelled after verification; depository name substituted as registered owner.