MPL Plastics schedules 34th AGM on September 28 to adopt FY26 results

1 min read | Published on 24 Aug 2026, 03:05 PM |Updated on 24 Aug 2026, 03:06 PM

Reviewed by

Anirudha BScanX News Team

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Key Highlights

MPL Plastics schedules 34th AGM for September 28, 2026
Meeting to adopt standalone financials for FY26
Reappointment of director Radhika Sameer Rane proposed
Statutory auditor Jain Vinay & Associates reappointed for five years
Book closure period is September 21 to September 27, 2026

*this image is generated using AI for illustrative purposes only.

MPL Plastics has scheduled its 34th Annual General Meeting (AGM) for Monday, September 28, 2026. The meeting will convene at 11:30 am at the company's registered office in Thane, Maharashtra.

Shareholders will vote on ordinary business items, including the adoption of the audited standalone financial statements for the fiscal year ended March 31, 2026. The agenda also includes the reappointment of Mrs. Radhika Sameer Rane as a director and M/s. Jain Vinay & Associates as statutory auditors.

Governance and Auditor Reappointment

The board seeks shareholder approval to reappoint Mrs. Radhika Sameer Rane, a woman non-executive non-independent director, who retires by rotation. She holds a postgraduate degree and possesses over 14 years of experience in industrial administration.

M/s. Jain Vinay & Associates, Chartered Accountants, will be reappointed as statutory auditors for a five-year term. Their tenure will span from the conclusion of the 34th AGM until the conclusion of the 39th AGM. Remuneration will be fixed by the board in consultation with the auditors.

Shareholder Logistics

The register of members and share transfer books will remain closed from Monday, September 21, 2026, to Sunday, September 27, 2026. The record date for voting eligibility is September 21, 2026.

The company is facilitating remote e-voting through National Securities Depository Limited (NSDL). The e-voting window opens on Friday, September 25, 2026, at 9:00 am and closes on Sunday, September 27, 2026, at 5:00 pm. Shareholders holding shares in physical mode must update their KYC details, including PAN and bank account information, with the registrar to receive dividends electronically.

Historical Stock Returns for MPL Plastics

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+6.19%	-3.44%	-0.32%	-19.00%	-30.95%	+34.64%

How might the reappointment of a long-tenured non-independent director impact MPL Plastics' corporate governance structure and strategic decision-making?

What are the expected financial performance highlights for FY2026 that shareholders will be reviewing during the adoption of the audited standalone statements?

Could the five-year tenure for statutory auditors influence the company's audit quality or fee negotiations compared to annual reappointment cycles?

MPL Plastics

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MPL Plastics posts ₹12.81 lakh loss in Q1FY27; auditors flag going concern

2 min read | Published on 12 Aug 2026, 02:35 PM |Updated on 13 Aug 2026, 01:58 PM

Reviewed by

Shriram SScanX News Team

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Key Highlights

MPL Plastics reported a net loss of ₹12.81 lakh in Q1FY27 with zero operational revenue, as total expenses of ₹13.09 lakh outweighed other income of ₹0.28 lakh. Statutory auditors Jain Vinay & Associates issued an adverse opinion on the interim results, citing material uncertainty over the company's going concern status following the closure of its manufacturing plants in FY24. The Board approved the unaudited results on August 12, 2026, under SEBI Listing Regulations.

*this image is generated using AI for illustrative purposes only.

MPL Plastics Limited reported a net loss of ₹12.81 lakh for the quarter ended June 30, 2026 (Q1FY27), driven by zero revenue from operations and persistent overhead costs. The company’s statutory auditors, Jain Vinay & Associates, issued an adverse opinion on the interim financial results, citing a material uncertainty that casts significant doubt on the entity’s ability to continue as a going concern. This follows the complete cessation of manufacturing operations at its Silvassa and Pune plants during FY24, when key assets including plant machinery, land, and warehouses were sold.

The Board of Directors approved the unaudited financial results on August 12, 2026, following review by the Audit Committee. The disclosure was made under Regulation 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Vishakha Jain, Company Secretary and Compliance Officer, signed off on the filing submitted to the Bombay Stock Exchange (BSE). The Board meeting commenced at 1:00 p.m. and concluded at 1:30 p.m.

Financial Performance

MPL Plastics generated no revenue from operations in Q1FY27, continuing the trend from the previous quarter and year. Total income stood at ₹0.28 lakh, derived entirely from other income sources. In contrast, total expenses amounted to ₹13.09 lakh, resulting in an operating loss of ₹12.81 lakh before tax. Employee benefit expenses constituted the largest cost component at ₹6.73 lakh, followed by other expenditure of ₹6.33 lakh. Finance costs were minimal at ₹0.01 lakh, while depreciation and amortisation expenses recorded ₹0.02 lakh.

Metric	Q1FY27 (₹ in Lakhs)	Q4FY26 (₹ in Lakhs)	Q1FY26 (₹ in Lakhs)	FY26 (₹ in Lakhs)
Revenue from Operations	-	-	-	-
Other Income	0.28	32.23	0.28	39.49
Total Income	0.28	32.23	0.28	39.49
Total Expenses	13.09	15.84	15.67	56.48
Net Profit / (Loss)	(12.81)	16.39	(15.39)	(16.99)
EPS (Basic/Diluted)	(0.10)	0.13	(0.12)	(0.14)

For the full financial year FY26, the company reported a net loss of ₹16.99 lakh. The fourth quarter of FY26 had shown a profit of ₹16.39 lakh, primarily due to higher other income of ₹32.23 lakh, which offset expenses of ₹15.84 lakh. However, this profitability was not sustained into Q1FY27 as other income normalized to ₹0.28 lakh.

Auditor’s Caveats and Corporate Status

Jain Vinay & Associates, the statutory auditors, conducted their review in accordance with Standard on Review Engagement (SRE) 2410. They highlighted Note 5 to the financial statements, which indicates that the company has closed down its operations. The auditors stated that these events indicate a material uncertainty regarding the company’s ability to continue as a going concern, leading to an adverse opinion on this specific aspect.

The corporate insolvency resolution process was initiated earlier, with the Board approving a special resolution on March 8, 2022, and April 11, 2022. Shareholders approved this via postal ballot on April 14, 2022. Subsequently, the company informed the BSE on July 10, 2024, about winding up under Section 10 of the Insolvency and Bankruptcy Code, 2016. Despite these proceedings, the company continues to file regulatory disclosures and maintain minimal operational costs related to employee benefits and administrative expenditures.

Historical Stock Returns for MPL Plastics

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+6.19%	-3.44%	-0.32%	-19.00%	-30.95%	+34.64%

What is the current status of the winding-up proceedings under Section 10 of the Insolvency and Bankruptcy Code, and when is the final dissolution expected to occur?

How will the remaining assets and cash reserves be allocated among creditors and shareholders once all administrative and employee benefit expenses are settled?

Are there any pending legal liabilities or contingent liabilities that could emerge during the liquidation process, potentially affecting the final payout to stakeholders?

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