Western Ministil Limited reported a widened consolidated net loss of ₹18.62 lakhs for the first quarter ended June 30, 2026 (Q1FY26), compared to a loss of ₹10.15 lakhs in the previous quarter. Standalone operations recorded a net loss of ₹4.38 lakhs, down from ₹5.07 lakhs in Q1FY25. The results reflect the inclusion of Micron Calcite Private Limited, acquired as a wholly owned subsidiary on May 12, 2026, which contributed to the higher consolidated expenses despite reporting nil revenue.

The Board of Directors approved the unaudited financial results on August 6, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Statutory auditors Maark & Associates issued an emphasis of matter regarding the company’s ability to continue as a going concern, noting that accumulated losses exceed paid-up share capital and free reserves. Additionally, the auditors highlighted that the company has not provided for accrued interest of ₹289.55 lakhs on borrowings from related parties since April 1, 2001, due to financial difficulties.

Financial Performance

Consolidated total income remained at ₹1.29 lakhs, derived entirely from other income, with no revenue from operations. Total expenses surged to ₹19.91 lakhs from ₹10.56 lakhs in the prior quarter, driven primarily by ₹10.93 lakhs in purchases of stock-in-trade and ₹8.11 lakhs in other expenses. Standalone expenses decreased to ₹5.68 lakhs from ₹10.56 lakhs, aided by lower other expenses of ₹4.93 lakhs.

Corporate Actions and Disclosures

The company announced its 52nd Annual General Meeting will be held on September 9, 2026, via video conferencing. The cut-off date for e-voting eligibility is September 2, 2026, with the register of members closed from September 3 to September 9, 2026. Mrs. Poonam Somani of M/S Somani & Associates has been appointed as the scrutinizer for the AGM.

Regarding fund utilization, Western Ministil disclosed no deviation in the use of proceeds from its February 2026 preferential issues. Equity shares raised ₹400,000,000 were utilized towards advances given to creditors, while warrants raised ₹17,100,000 were deployed for investment in the wholly owned subsidiary and advances to creditors. The management stated it is exploring revival of business and fresh opportunities, maintaining accounts on a going concern basis despite the plant closure in 1995.

Western Ministil Ltd has appointed Satish Ramsevak Pandey as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective June 22, 2026. The appointment ensures compliance with Section 203 of the Companies Act, 2013, which mandates the designation of specific managerial roles.

The Board of Directors approved the appointment during its meeting held on June 22, 2026, based on the recommendation of the company's Nomination and Remuneration Committee. The meeting commenced at 11:00 A.M. and concluded at 11:25 A.M.

Mr. Pandey brings over two decades of experience to the role. He holds an MBA in Finance and is a graduate in Commerce, having applied his qualifications across diverse roles in the finance industry.

The disclosure regarding the appointment was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the relevant SEBI circular dated November 11, 2024.

Appointment Details