MPS Pharmaa Limited reported a net loss of ₹102 lakh for the financial year ended March 31, 2026, as the company continued to record zero income from operations. The pharmaceutical firm, which has been without operational income for an extended period, saw its total expenses rise to ₹109.35 lakh for the year, primarily driven by employee benefit costs and the write-off of stores and spares. The company's net worth contracted to ₹6.85 lakh from ₹108.07 lakh in the previous year, reflecting the continued financial strain.

The Board of Directors approved the standalone audited financial results for the quarter and year ended March 31, 2026, during a meeting held on May 28, 2026. The filing was submitted to the BSE Limited pursuant to Regulation 33 of the SEBI (LODR) Regulations, 2015. Alongside the results, the company disclosed a statement of impact of audit qualifications, highlighting significant issues raised by the statutory auditors, M/s Nemani Garg Agarwal & Co.

Auditor's Observations and Management Response

The auditors issued a qualified opinion, citing two primary areas of concern. First, the company recorded investments costing ₹53.80 lakh at acquisition value without determining fair value as required by Ind AS. The auditors stated they were unable to comment on the physical existence or value of these investments because the share certificates were lost during a record shift and physical verification was not possible. Management explained that requests for duplicate certificates to investee companies have gone unanswered.

Second, capital work in progress amounting to ₹2.41 crore has been stalled. The auditors noted that the physical condition of these assets requires technical evaluation to determine potential impairments. However, management contends the suspension is temporary and that the assets are not obsolete, asserting that construction activities will resume soon and no provision is required.

Financial Performance and Key Metrics

The company's financial results for the year show a deterioration in its financial position. Total income was limited to other income of ₹3.56 lakh, down from ₹4.77 lakh in the previous year. Employee benefit expenses increased to ₹53.31 lakh from ₹52.47 lakh, while finance costs rose to ₹0.08 lakh. Notably, the company wrote off stores and spares worth ₹15.37 lakh due to deterioration and obsolescence caused by prolonged storage.

The basic and diluted earnings per share (EPS) for the year stood at a loss of ₹0.53, compared to a loss of ₹0.47 in the prior year. The paid-up equity share capital remained constant at ₹1,911.14 lakh. On the balance sheet, total assets decreased to ₹847.95 lakh as of March 31, 2026, from ₹933.19 lakh a year earlier. Current liabilities, primarily borrowings, stood at ₹818.85 lakh.

Governance and Compliance Updates

In a separate corporate governance update, the Board re-appointed M/s Sanghi & Co., Chartered Accountants, as the internal auditor for the financial year 2026-27 based on the Audit Committee's recommendation. The company also disclosed related party transactions for the half-year ended March 31, 2026, including unsecured loans received from promoter group member Peeyush Kumar Aggarwal and Omkam Global Capital Private Limited. Additionally, the company noted that its shares remain suspended on the BSE, with trading permitted only on a trade-for-trade basis once a week due to non-payment of annual listing fees since FY22.

Financial Results Summary

MPS Pharmaa Limited (formerly Advik Laboratories Limited) has notified BSE Limited and Ahmedabad Stock Exchange Limited of an upcoming Board of Directors meeting, scheduled for Thursday, May 28, 2026, at 12:00 P.M. at the company's corporate office at 703, Arunachal Building, 19, Barakhamba Road, Connaught Place, New Delhi – 110001. The intimation, dated May 18, 2026, was issued pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Agenda

The board meeting has been convened to transact several key items of business. The following matters are scheduled for consideration:

• Approval of the Audited Financial Results of the company for the quarter and financial year ended March 31, 2026
• Approval of the Auditors' Report on the audited financial results for the quarter and financial year ended March 31, 2026
• Consideration of the appointment of M/s Sanghi & Co., Chartered Accountants as the Internal Auditor of the company for FY 2026-27
• Any other business with the permission of the Board

Key Meeting Details

The table below summarises the key details of the scheduled board meeting:

Trading Window Closure

In accordance with BSE Circular no. LIST/COMP/01/2019-20 dated April 02, 2019, and the company's Code of Conduct for Prevention of Insider Trading framed pursuant to the SEBI (Prohibition of Insider Trading) Regulation, 2015, the trading window for dealing in the shares of the company is already closed for all Directors, Officers, Designated Employees, and their relatives. The trading window shall remain closed until May 30, 2026, in connection with the declaration of audited financial results for the quarter and financial year ended March 31, 2026.

The intimation was signed by Pooja Chuni, Company Secretary, on behalf of MPS Pharmaa Limited. The company's registered office and factory are located at 138, Roz-Ka-Meo Industrial Area, Sohna – 122103 (Distt. Mewat), Haryana.