MPL Plastics Limited has announced its quarterly unaudited financial results for Q3 FY26 ended December 31, 2025, revealing continued operational challenges as the company remains in a non-operational state. The Board of Directors approved these results on February 10, 2026, after review by the Audit Committee.

Regulatory Compliance and Publication

In compliance with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published extracts of its financial results in newspapers on February 11, 2026:

Financial Performance Overview

The company's financial performance for Q3 FY26 reflects its current non-operational status:

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, MPL Plastics reported:

Operational Status and Going Concern Issues

The company faces significant operational challenges that impact its financial position:

• Closed Operations: Manufacturing operations at Silvassa and Pune plants were shut down during 2023-24
• Asset Disposal: Plant and machinery, land, buildings, and warehouse at Pune were sold during 2023-24
• Going Concern Uncertainty: Auditors have expressed material uncertainty about the company's ability to continue as a going concern

Expenditure Breakdown

Despite closed operations, the company incurred expenses across various categories:

Corporate Actions and Regulatory Compliance

The company has initiated several corporate actions regarding its future:

• Board meetings on March 8, 2022, and April 11, 2022, approved initiation of corporate insolvency resolution process
• Shareholders approved special resolution through postal ballot on April 14, 2022
• Company intimated BSE about winding up under Section 10 of the Insolvency and Bankruptcy Code, 2016, via letter dated July 10, 2024

The company maintains its paid-up equity share capital at Rs 1,250 lakhs with face value of Rs 10 per share. The financial results were prepared in accordance with Indian Accounting Standards and reviewed by statutory auditors Jain Vinay & Associates, who issued an adverse opinion regarding the company's going concern status.

MPL Plastics Limited , a once-operational manufacturing company, has reported a complete halt in its operations, resulting in zero revenue for the quarter and six months ended September 30, 2025. This development marks a significant turning point for the company, raising questions about its future viability.

Key Highlights

• MPL Plastics reported no revenue from operations for Q2 and H1 FY2026
• The company's Sivassa Pune plant has been closed down
• Auditors issued an adverse opinion on the company's ability to continue as a going concern
• The Board and shareholders approved initiation of corporate insolvency resolution process

Operational Shutdown and Asset Disposal

MPL Plastics has completely ceased its manufacturing operations at its Sivassa Pune plant. In a move that signals the gravity of the situation, the company has sold off its plant machinery, land, building, and warehouse at the Pune facility. This disposal of core assets underscores the company's dire financial straits and the challenges it faces in maintaining operational viability.

Financial Performance and Auditor's Opinion

The financial results for the quarter paint a bleak picture:

Adding to the company's woes, the auditors have issued an adverse opinion regarding MPL Plastics' ability to continue as a going concern. This opinion highlights the material uncertainty surrounding the company's future operations and financial stability.

Corporate Insolvency Resolution Process

In response to the ongoing challenges, the Board of Directors and shareholders of MPL Plastics have taken a significant step. They approved a special resolution to initiate the corporate insolvency resolution process. Furthermore, the company has informed the Bombay Stock Exchange (BSE) about its intention to wind up operations under Section 10 of the Insolvency and Bankruptcy Code, 2016.

Board Meeting and Results Approval

Despite the challenging circumstances, the company's Board of Directors met on November 11, 2025, to approve the quarterly results. The meeting, which commenced at 1:00 p.m. and concluded at 1:30 p.m., saw the Board review and approve the unaudited financial results for the quarter and half-year ended September 30, 2025.

The situation at MPL Plastics serves as a stark reminder of the challenges facing manufacturing companies in today's economic climate. As the company navigates through this critical phase, stakeholders will be closely watching the outcomes of the insolvency resolution process and any potential restructuring efforts.