Minal Industries Limited held its Board Meeting on August 13, 2026, to approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The results include a limited review report from the statutory auditors. The company also took on record a fine imposed by BSE for non-compliance. Key notes highlight a material uncertainty related to going concern due to accumulated losses and non-accrual of interest income on subsidiary loans.
Board Approves Q1 FY27 Financials
Minal Industries Limited announced that its Board of Directors, in a meeting held on Thursday, August 13, 2026, has considered, recommended, and approved the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. Alongside these results, the Board also approved the Limited Review Report provided by the company’s Statutory Auditors.
Regulatory Compliance and Fine Disclosure
The company has submitted these unaudited financial results as per Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, the Board took on record a fine levied by the BSE for non-compliance with Regulation 33 concerning the submission of financial results for the quarter and financial year ended March 31, 2026. The fine amounted to INR 94,400 (including GST), which has since been remitted.
Financial Highlights and Notes
The disclosed financial statements reveal an accumulated loss of Rs. 2250.60 lakhs. The standalone financial statements are prepared on a going concern basis, contingent upon the company’s successful strategy to strengthen its market presence, increase sales, generate profits, and secure financial support from its promoters. A significant note points out that interest income of Rs. 31.34 lakhs for the quarter ended June 30, 2026, related to a loan given to its subsidiary, Minal Infojewels Limited, has not been accrued due to uncertainty arising from the subsidiary’s accumulated losses and its inability to pay interest.
Furthermore, the company has continued the creation of provisions for impairment in the value of its investments and loans related to its subsidiary, Minal Infojewels Limited. These provisions amount to Rs. 600 lakhs for investments and Rs. 1200 lakhs for loans for the quarter ended June 30, 2026. These matters have been reviewed and approved by the Audit Committee and the Board of Directors.
Consolidated Financial Performance
The consolidated financial results also reflect a material uncertainty related to the going concern basis for the group, with net accumulated losses under retained earnings of Rs. 505.46 lakhs as at June 30, 2026. The group’s management is optimistic about improving sales and profitability through strategic initiatives and continued financial support from its promoters.
Source: BSE
