MPIL Corporation Limited informed the Bombay Stock Exchange about the demise of Mr. Ashok Patel, proprietor of M/s. Ashok Patel & Associate, Practicing Company Secretaries, Mumbai. He served as the secretarial auditor of the company and passed away on August 16, 2026.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III to the said regulations.

Next Steps

The company stated that the Audit Committee and the Board would consider the appointment of new secretarial auditors in due course. MPIL Corporation added that it would intimate the exchange regarding the appointment once finalized.

The announcement was signed by Milan Dalal, Chairman of MPIL Corporation Limited.

MPIL Corporation reported a net loss of ₹17 lacs for the quarter ended June 30, 2026, marking a significant improvement from the ₹365 lac loss recorded in the preceding quarter. The turnaround was primarily driven by a drastic reduction in other expenses, which fell from ₹357 lacs to ₹11 lacs, while operating revenue remained stable at ₹2 lacs. This development signals a stabilization in operational costs and suggests that previous losses were largely influenced by non-recurring items rather than core business inefficiencies.

The Board of Directors approved the unaudited financial results on August 10, 2026, in compliance with Regulation 47 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company simultaneously announced a change in key managerial personnel, appointing Saloni Shah as Company Secretary and Compliance Officer effective August 10, 2026. Shah replaces Hiren Desai, who resigned to pursue opportunities outside the company.

Financial Performance

Total income for the quarter stood at ₹19 lacs, comprising ₹2 lacs from operations and ₹17 lacs from other income. This is a slight decrease from the ₹21 lacs total income in the previous quarter. Total expenses were controlled at ₹36 lacs, a sharp decline from ₹386 lacs in Q4FY26. Employee benefits remained steady at ₹8 lacs, while finance costs increased slightly to ₹15 lacs from ₹15 lacs in the prior quarter but were lower than the ₹9 lacs seen in the same quarter last year.

Earnings per share (basic and diluted) were negative ₹2.98, compared to negative ₹64.04 in the previous quarter and positive ₹2.11 in the same quarter last year. The company’s paid-up equity share capital remains at ₹57 lacs.

Key Managerial Changes

The Board approved the appointment of Saloni Shah as Company Secretary and Compliance Officer, designated as Key Managerial Personnel, effective August 10, 2026. Shah, a qualified Company Secretary with over 15 years of experience, replaces Hiren Desai, who tendered his resignation on the same date. Desai was relieved from his duties at the close of business on August 10, 2026.

What the Numbers Show

The most notable aspect of this quarter’s performance is the divergence between revenue stability and expense volatility. While operational revenue remains negligible at ₹2 lacs, the elimination of the ₹357 lac hit in other expenses has allowed the company to narrow its loss substantially. This indicates that the severe losses in FY26 were largely driven by non-recurring or exceptional items rather than core operational inefficiencies. However, with other income also declining from ₹20 lacs to ₹17 lacs, the company’s ability to sustain this improved trajectory depends on maintaining low expense levels while potentially growing its modest operating revenue stream.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE844C01027/7d913f2b-3544-4f3b-a296-f7ede66903e1.pdf