Mrugesh Trading Ltd (512065)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Mrugesh Trading's net interest income was ₹0.4 Cr, and net profit ₹0.1 Cr (against a loss a year earlier).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹0.4 | — | -93.3% |
| Operating profit | ₹0.1 | — | — |
| Net profit | ₹0.1 | from loss | from loss |
| EPS (₹) | 0.00 | loss narrowed | loss narrowed |
📢 Recent Corporate Announcements
Mrugesh Trading reported revenue from operations of ₹43.38 lakh (down 93% QoQ from ₹650.67 lakh) and a net profit of ₹8.66 lakh for the quarter ended June 30, 2026. However, the statutory auditor issued a heavily qualified review report citing lack of verification for bill-to-ship-to sales and third-party inventory. Crucially, the auditor flagged ₹1,215.00 lakh (₹12.15 crore) in unverified trade advances where no goods or agreements exist, representing ~98% of TTM revenue. Additionally, the company reported ₹32.50 crore of preferential issue proceeds parked in fixed deposits out of ₹72.00 crore raised.
- Revenue from operations stood at ₹43.38 lakh in Q1 vs ₹650.67 lakh in the prior quarter and ₹0.00 lakh in Q1 FY26.
- Reported net profit was ₹8.66 lakh for the quarter compared to a net loss of ₹50.49 lakh in the preceding quarter.
- Auditors flagged unverified trade advances of ₹1,215.00 lakh (₹12.15 crore) given without agreements or delivery of goods.
- Auditor noted missing e-way bills/transport records for sales and absent custody controls for third-party agricultural inventory.
- Out of ₹72.00 crore raised via warrants, ₹39.50 crore has been utilized while ₹32.50 crore is held in fixed deposits.
Mrugesh Trading reported a standalone net profit of ₹8.66 lakhs for the quarter ended June 30, 2026, rebounding from a loss of ₹50.19 lakhs in the preceding quarter. Revenue from operations dropped sequentially to ₹43.36 lakhs from ₹650.67 lakhs in Q4 FY26. Crucially, the statutory auditor issued a heavily qualified review citing unverified trade advances of ₹1,215 lakhs (₹12.15 crore) without goods or contracts, unverified third-party inventory, and bill-to-ship sales lacking delivery/e-way bills. The company also confirmed zero deviation in its ₹72 crore preferential warrant proceeds.
- Standalone net profit stood at ₹8.66 lakhs for Q1 ended June 30, 2026 vs a loss of ₹50.19 lakhs in Q4 FY26.
- Revenue from operations fell sharply to ₹43.36 lakhs compared to ₹650.67 lakhs in the previous quarter.
- Auditor flagged unverified trade advances of ₹1,215.00 lakhs (₹12.15 crore) given without contractual agreements or receipt of goods.
- Auditor could not verify existence of 'bill-to-ship-to' sales due to lack of delivery proofs, lorry receipts, and e-way bills.
- Preferential convertible warrant proceeds of Rs. 72,00,00,000/- reported zero deviation in utilization.
Mrugesh Trading reported total income of Rs 70.93 lakh and a net profit of Rs 8.66 lakh for Q1 FY27 (quarter ended June 30, 2026), compared to a net loss of Rs 50.49 lakh in Q4 FY26. However, statutory auditor DDS & Associates issued a qualified conclusion raising multiple severe audit flags. Key concerns include unverified 'bill-to-ship-to' sales without transport documentation, lack of custody controls over agricultural inventory at third-party sites, and overdue trade advances of Rs 12.15 crore without formal contracts. The company also filed a statement confirming no deviation in the utilization of Rs 72.00 crore raised via convertible warrants.
- Q1 FY27 revenue from operations stood at Rs 43.36 lakh with net profit of Rs 8.66 lakh versus a loss of Rs 50.49 lakh in Q4 FY26.
- Auditor flagged unbacked trade advances of Rs 12.15 crore (Rs 1,215.00 lakh) with no goods received and no contractual agreements.
- Auditor unable to verify bill-to-ship-to sales due to lack of delivery proofs, lorry receipts, and e-way bills.
- Inventory of agricultural products stored at third parties lacks storage agreements and custody controls.
- Statement of deviation reported nil deviation for Rs 72.00 crore raised via preferential convertible warrants.
Mrugesh Trading reported standalone Q1 FY27 revenue from operations of ₹43.36 lakh (down from ₹650.67 lakh in Q4 FY26) and a net profit of ₹8.66 lakh versus a net loss of ₹50.19 lakh in the preceding quarter. The statutory auditor issued a heavily qualified review report citing lack of documentation for ₹1,215.00 lakh in trade advances, unverified agricultural inventory at third-party premises, and absent delivery proofs for bill-to-ship-to sales. Furthermore, out of ₹72.00 crore raised via convertible warrants, ₹39.50 crore has been utilised for working capital while ₹32.50 crore remains temporarily parked in fixed deposits.
- Q1 FY27 revenue from operations declined to ₹43.36 lakh from ₹650.67 lakh in Q4 FY26.
- Net profit recorded at ₹8.66 lakh for Q1 FY27 compared to a net loss of ₹50.19 lakh in Q4 FY26.
- Auditor flagged ₹1,215.00 lakh in unbacked trade advances with no goods received and unclear recoverability.
- Auditor raised qualifications over missing e-way bills/transport records for sales and lack of control over third-party inventory.
- Company reported ₹32.50 crore of ₹72.00 crore warrant proceeds parked in bank fixed deposits.
Mrugesh Trading Ltd has rescheduled its board meeting from August 11, 2026, to August 14, 2026. The primary agenda is to consider and approve the unaudited financial results for the quarter ended June 30, 2026. This is a routine administrative change in the corporate calendar. Investors should note the company's extremely low promoter holding of 0.25% and the significant stock price appreciation of 17,112.5% over the last 12 months despite a TTM revenue of only Rs 12 Cr.
- Board meeting rescheduled from August 11, 2026, to August 14, 2026
- Agenda includes approval of unaudited financial results for the quarter ended June 30, 2026
- Promoter holding has decreased significantly from 74.37% in September 2025 to 0.25% in March 2026
- Company reported a net loss of Rs 0.24 Cr for FY26 on a revenue of Rs 12.41 Cr
Mrugesh Trading Ltd has scheduled a board meeting for August 11, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The company, an NBFC with a market cap of Rs 85 Cr, reported a TTM revenue of Rs 12 Cr and a net loss of Rs 0.24 Cr for FY26. Investors should exercise caution as promoter holding has plummeted from 74.37% to just 0.25% over the last year. Despite these fundamentals, the stock has experienced an extreme 12-month price return of 15,492.9%.
- Board meeting scheduled for August 11, 2026, at 4:00 P.M. to approve Q1 FY27 results.
- Promoter holding stands at a critically low 0.25% as of March 2026.
- Company reported a net loss of Rs 0.5 Cr in the most recent quarter ended March 2026.
- Stock price has surged 15,492.9% over the last 12 months despite a net loss in FY26.
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