MPS Pharmaa Q1 FY27 Reports Zero Revenue, ₹23.80 Lakh Loss

Board Meeting Details

The Board of Directors meeting was held on Thursday, 13th August, 2026 from 12:00 P.M. to 02:20 P.M. at the corporate office: 703, Arunachal Building, 19, Barakhamba Road, Connaught Place, New Delhi - 110001. The board approved the standalone unaudited financial results and the limited review report for the quarter ended June 30, 2026.

Financial Performance (Quarter Ended June 30, 2026)

Income from Operations: ₹0.00 (Zero revenue from operations)
Other Income: ₹0.00 (compared to ₹3.56 lakh in previous quarter)
Total Income: ₹0.00
Total Expenses: ₹23.80 lakh
Employee Benefits Expenses: ₹14.36 lakh
Finance Costs: ₹0.06 lakh
Depreciation and Amortization: ₹3.51 lakh
Other Expenses: ₹5.88 lakh
Loss Before Tax: ₹(23.80) lakh
Tax Expense: ₹0.00
Net Loss for Period: ₹(23.80) lakh
Total Comprehensive Income: ₹(23.61) lakh
Paid-up Equity Share Capital: ₹1,911.14 lakh (face value ₹10 per share)
Earnings Per Share (Basic & Diluted): ₹(0.12)

Comparative Financials

| EPS | ₹(0.12) | ₹(0.19) | ₹(0.12) | ₹(0.53) |

Operational Highlights

The company operates in a single segment: pharmaceutical formulations
Zero revenue from operations during the quarter due to halted business operations
Drug manufacturing licenses are under renewal with Food & Drugs Administration (FDA), Panchkula
Management believes operations will restart soon as company is receiving quotes from prospective buyers
Management exploring market opportunities and making efforts to restart operations

Auditor Qualifications and Observations

The statutory auditors (Nemani Garg Agarwal & Co.) issued a qualified review report with two main concerns:

1. Investment Verification Issue: The company recorded investments of ₹53.80 lakh at acquisition cost but has not determined fair value as required by Ind AS. Share certificates were misplaced/lost during records shifting, and despite multiple requests to companies for duplicate certificates, no response received. Auditors unable to verify physical existence or value of these unquoted equity investments.

2. Stalled Capital Work: Capital work in progress of ₹2.12 crore has been stalled. Physical condition requires technical evaluation to determine impairments or write-offs. Management believes suspension is temporary, assets are not obsolete, and construction will resume soon, thus no provision required.

Management Explanations

The company is working to determine fair market value of investments for IND AS compliance
Construction was suspended due to technical and other reasons, but management anticipates resuming activities soon
The company is receiving advances back from some vendors due to non-execution of deals

Regulatory and Compliance Issues

The company has not paid Annual Listing Fees (ALF) to BSE since financial year 2021-22
BSE has suspended regular trading of the company's scrip
BSE permits trading only on Trade-for-Trade basis, limited to first trading day of each week
Management is making efforts to arrange funds for outstanding BSE payments

Additional Information

Financial results reviewed by Audit Committee and approved by Board of Directors on August 13, 2026
Figures for quarter ended March 31, 2026 represent balancing figures between audited annual figures and published 9-month figures
Previous year figures regrouped for comparability
Results available on company website: www.mpspharmaa.com