Financial Performance Summary (Standalone)

Income Statement (₹ in lakhs)

  • Gross Sales: ₹563.16 (Previous year: ₹591.60)
  • Profit/(Loss) after interest and finance charges: (₹2.18) (Previous year: (₹74.07))
  • Net profit/(Loss) before exceptional item and tax: (₹3.13) (Previous year: (₹74.83))
  • Profit/(Loss) for the year: (₹3.13) (Previous year: (₹74.83))
  • Other Comprehensive Income: ₹4.61 (Previous year: (₹2.18))
  • Total Comprehensive Income for the year: ₹1.48 (Previous year: (₹77.01))
  • Earnings per Share (Basic and Diluted): (₹0.50) (Previous year: (₹11.97))

Balance Sheet Position (as at March 31, 2026)

  • Total Assets: ₹589.28 lakhs (Previous year: ₹572.01 lakhs)
  • Equity Share Capital: ₹62.50 lakhs (unchanged)
  • Other Equity: (₹268.91) lakhs (Previous year: (₹270.38) lakhs)
  • Total Equity: (₹206.41) lakhs (Previous year: (₹207.88) lakhs)
  • Accumulated Losses: ₹495.09 lakhs (Previous year: ₹491.96 lakhs)
  • Net Worth: Negative ₹206.41 lakhs (Previous year: Negative ₹207.88 lakhs)

Consolidated Financial Performance

  • Profit/(Loss) for the year: (₹4.75) lakhs (Previous year: (₹75.69) lakhs)
  • Total Comprehensive Income for the year: (₹0.14) lakhs (Previous year: (₹77.87) lakhs)
  • Earnings per Share (Basic and Diluted): (₹0.76) (Previous year: (₹12.11))

Subsidiary Performance

Muller and Phipps Agencies Limited

  • Revenue: ₹10,428
  • Profit/(Loss) before Tax: (₹1,02,172)
  • PAT: (₹1,02,172)
  • Company's share in Profit/(Loss): 100%

Muller and Phipps Industrial Services Limited

  • Revenue: Not available
  • Profit/(Loss) before Tax: (₹1,18,100)
  • PAT: (₹1,18,100)
  • Company's share in Profit/(Loss): 100%

Key Operational Highlights

  • Business Nature: Marketing of own brands in Dental and Skin Care segments under brand names Cavisan, Cavidine and Nixoderm
  • No change in nature of business during the year
  • Management hopeful of progressively increasing turnover and looking for additional products to broad base product portfolio
  • Regional Offices/Depots: Mumbai, Indore, Delhi, Ghaziabad, Chandigarh, Kolkata, Patna, Kochi

Annual General Meeting Details

  • 109th AGM Date: Monday, September 28, 2026 at 5.00 p.m.
  • Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Record Date: Friday, September 18, 2026
  • Remote e-voting period: September 25, 2026 (10:00 A.M.) to September 27, 2026 (5:00 P.M.)

AGM Agenda Items

1. Adoption of Financial Statements - Audited Financial Statements and Consolidated Financial Statements for FY26

2. Re-appointment of Mr. Raymond Simkins as Director liable to retire by rotation (DIN: 01573312)

3. Re-appointment of Statutory Auditors - M/s Shankarlal Jain & Associates LLP, Chartered Accountants for second term of three years (Firm Registration No. 109901W/W100082)

Board of Directors and Key Managerial Personnel

Directors:

  • Mr. Milan Dalal - Director (DIN: 00062453)
  • Mr. Raymond Simkins - Director (DIN: 01573312)
  • Mr. Venu Krishnan - Independent Director (DIN: 00006592)
  • Mr. A V Seshadrinathan - Independent Director
  • Mrs. Hinal Shah - Woman Independent Director
  • Mr. P V Mohan - Whole Time Director (upto 31/05/2026)

Key Managerial Personnel:

  • Mr. Ramesh Pai - Chief Financial Officer
  • Mr. Shreekant Kudtarkar - Company Secretary & Compliance Officer

Auditor Appointments

  • Statutory Auditors: Shankarlal Jain & Associates LLP, Chartered Accountants
  • Secretarial Auditors: Sanjay Soman & Associates, Practising Company Secretaries

Auditor Observations

Key Audit Matters:

  • Going Concern: Company has accumulated losses of ₹495.10 lakhs with negative net worth of ₹206.41 lakhs as on March 31, 2026. Management believes it is appropriate to prepare financial statements on going concern basis.
  • Property, Plant and Equipment: Company has not maintained proper records showing full particulars including quantitative details and situation of PPE. No physical verification conducted during the year.

Internal Financial Controls:

Auditors report that company has adequate internal financial controls system over financial reporting operating effectively as at March 31, 2026, though noted that "management is unable to rely on automated controls related to financial reporting in the accounting software."

Related Party Transactions

Significant transactions with related parties include:

  • Receivable from Getz Bros Co. Ltd.: ₹287.54 lakhs (unchanged from previous year)
  • Payable to Getz Bros Co. Ltd.: ₹471.11 lakhs (unchanged from previous year)
  • Loans from Getz Pharma Pvt. Ltd.: ₹75.12 lakhs (Previous year: ₹82.34 lakhs)
  • Interest expense to Getz Pharma Pvt. Ltd.: ₹6.20 lakhs (Previous year: ₹5.19 lakhs)
  • Services given to Getz Pharma Pvt. Ltd.: ₹29.74 lakhs (same as previous year)

Contingent Liabilities

  • Disputed Sales Tax demands: ₹27.53 lakhs for A.Y. 2000-01 to 2004-05 pending with Sales Tax Authorities, Lucknow
  • Arrears of Dividend: ₹1.70 lakhs in respect of 14% Cumulative Redeemable Preference Shares of Muller and Phipps (Industrial Services) Limited

Corporate Actions

  • No dividend recommended due to carried forward losses
  • No transfer to reserves due to losses in current year
  • No change in share capital during the year
  • No fixed deposits accepted during the financial year

Compliance Status

  • Secretarial Audit Report by Sanjay Soman & Associates does not contain any qualification, reservations or adverse remark
  • No material fraud on or by the Company noticed or reported during the audit
  • No whistleblower complaints received by the Company during the year
  • No cases of sexual harassment reported during the year

Other Significant Disclosures

  • Foreign Exchange Earnings/Outgo: Nil for both years
  • Corporate Social Responsibility: Not applicable as net worth and net loss below prescribed limits
  • Internal Financial Controls: Considered adequate commensurate with size of Company and nature of its business
  • No proceedings pending under Insolvency and Bankruptcy Code, 2016

Important Dates

  • Board Meeting Dates: May 30, 2025, August 12, 2025, November 11, 2025, February 11, 2026
  • Annual Report signed by: Milan Dalal, Director on August 14, 2026
  • Auditor's Report dated: May 28, 2026

#Tags: #MullerAndPhipps #AnnualReport #SEBIDisclosure #RegulatoryCompliance #FinancialResults #NegativeNetWorth #GoingConcern #AGM #Neutral