Union Quality Plastics Limited Reports Net Loss of Rs. 2.28 Lakhs in Q3 FY26
Union Quality Plastics Limited reported a net loss of Rs. 2.28 lakhs for Q3 FY26 ended December 31, 2025, with no revenue from operations. The company recorded total income of Rs. 604.00 lakhs from other sources while incurring expenses of Rs. 2.28 lakhs. Auditors raised significant concerns about the company's going concern status due to accumulated losses and fully eroded net worth.
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Union Quality Plastics Limited has announced its unaudited financial results for the quarter ended December 31, 2025, revealing continued operational challenges with a net loss of Rs. 2.28 lakhs. The Mumbai-based company, engaged in plastics manufacturing, reported no revenue from operations during the quarter under review.
Financial Performance Overview
The company's financial performance for Q3 FY26 reflects ongoing difficulties, with key metrics showing:
| Parameter: | Q3 FY26 (Rs. in lakhs) |
|---|---|
| Revenue from Operations: | - |
| Other Income: | 604.00 |
| Total Income: | 604.00 |
| Total Expenses: | 2.28 |
| Net Loss: | (2.28) |
| Earnings per Share (Basic): | (0.03) |
Expense Breakdown
Despite minimal operations, the company incurred expenses across several categories during the quarter:
- Employee benefits expense: Rs. 1.67 lakhs
- Other expenses: Rs. 0.61 lakhs
- Purchases of stock in trade: Minimal amounts
The company maintained its paid-up equity share capital at Rs. 692.64 lakhs, with a face value of Rs. 10 per equity share.
Nine-Month Performance
For the nine-month period ended December 31, 2025, the company reported a net loss of Rs. 7.85 lakhs, indicating sustained operational challenges throughout the fiscal year. The earnings per share for the nine-month period stood at Rs. (0.11) on both basic and diluted basis.
Auditor Concerns
The company's statutory auditors, Sagar & Associates, issued a qualified review report highlighting several material concerns:
- Going concern uncertainty: The company has accumulated losses with fully eroded net worth and current liabilities exceeding current assets
- Outstanding receivables: Rs. 278.08 lakhs in sundry debtors outstanding for over three years
- Inventory concerns: Rs. 158.06 lakhs in closing stock not moving for more than two years
- Creditor confirmations: Rs. 364.47 lakhs in sundry creditors outstanding for over three years without confirmations
Board Meeting Details
The Board of Directors approved these results in their meeting held on February 14, 2026, which commenced at 4:30 PM and concluded at 6:00 PM in Hyderabad. The board considered and approved the unaudited financial results, limited review report, and conducted a business review for the quarter ended December 31, 2025.
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