MPS Infotecnics Shares: Bura Haal! Delisting ka Risk, Auditors ne Lagai Aag!

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AuthorIshaan Verma|Published at:
MPS Infotecnics Shares: Bura Haal! Delisting ka Risk, Auditors ne Lagai Aag!
Overview

Bhai log, MPS Infotecnics ke liye bahut buri khabar hai. Company ko NSE aur BSE se delist karne ki process shuru ho gayi hai. Revenue gaya neeche aur losses badh gaye hain, aur auditors ne accounts mein itni badi gadbad pakdi hai ki company ka future hi unclear lag raha hai.

📉 Aakhdein bata rahe hain company ki haalat kharab

Sabse pehle numbers dekh lete hain jo company ne diye hain:

  • December 2025 ko khatam hue quarter mein revenue tha sirf ₹6.26 Lacs, jo pichhle saal ke 43.6% se bhi kam hai. Pithhle saal yeh ₹11.11 Lacs tha.
  • Is quarter mein net loss badhkar ho gaya ₹87.22 Lacs (yaani ₹0.87 Crore), jo pichhle saal ke ₹84.37 Lacs (₹0.84 Crore) se zyada hai.
  • Agar September 2025 tak ke nine months dekhein, toh revenue ₹27.32 Lacs raha, jo pichhle saal se 24.2% kam hai.
  • Isi nine-month period mein net loss ₹268.86 Lacs (yaani ₹2.69 Crore) ho gaya, jo pichhle saal ₹244.79 Lacs (₹2.45 Crore) tha.
  • EBITDA, EBIT, PAT, margin ya EPS jaise figures available nahi hain.

❓ Auditors ne Accounts mein Pakda Bawaal!

Asal game toh yahan se shuru hota hai. Nemani Garg Agarwal & Co. naam ke auditors ne company ke financial health aur assets par gehri chinta jatayi hai. Unhone kai cheezon ko lekar sawal uthaye hain:

  • Asset Value Ka Chakkar: Auditors ko company ke intangible assets ki sahi value pata nahi chal paayi. Kuch assets jinka valuation report nahi hai, un par koi provision nahi kiya gaya:
    • Software Development: ₹56.44 Crore
    • Software rights: ₹5.34 Crore
    • Source code ka opening stock: ₹62.22 Crore
  • Subsidiary Ka Gundapan: Subsidiaries mein ₹61.75 Crore (Standalone) ka investment kiya hai, jismein ₹61.69 Crore goodwill hai (Consolidated). Yeh companies operational nahi hain, unka audit nahi hua hai aur na hi koi provision kiya gaya hai.
  • Portugal Bank Account Ka Case: Portugal mein ₹34.79 Crore ka bank balance hai jo 2008-09 se pending hai aur legal dispute mein hai. Is par company ne koi potential loss provision nahi kiya, jisse balance sheet overstate ho rahi hai.
  • Loan Wapas Milega Ya Nahi?: ₹222.11 Crore ke 'other loans and advances' milenge ya nahi, yeh confirm nahi hai kyunki koi terms provide nahi kiye gaye. Aur ₹16.59 Crore (Standalone) / ₹34.83 Crore (Consolidated) ke debtors jo 6 mahine se overdue hain, un par bhi koi bad debt provision nahi kiya gaya hai.

🚨 Regulatory Aur Governance Ka Khel Khelat!

Company sirf accounts mein hi nahi, balki regulatory aur compliance mein bhi fail ho rahi hai:

  • NSE par listing fees ke ₹28.08 Lacs aur BSE par ₹24.02 Lacs baki hain. Custodial charges bhi ₹124.99 Lacs + ₹17.49 Lacs baki hain. Is wajah se promoter ke demat account freeze ho gaye hain aur data access bhi blocked hai.
  • SEBI ne ₹25 Lacs ka penalty lagaya hai aur interest provision bhi poora nahi hai.

🚩 Delisting Ka Khatra Aur Investors Ka Kya Hoga?

NSE aur BSE dono ne company ko Show Cause Notices diye hain aur delisting ki process shuru kar di hai. Company ko February 2026 tak dues clear karne hain aur March 2026 tak non-compliances theek karni hain.

Iske alawa, FY2022-23, FY2023-24, aur FY2024-25 ke AGMs bhi nahi hue hain. Annual reports aur shareholding patterns bhi file nahi kiye gaye hain.

Saaf hai, company ki halat bahut nazuk hai. Investors ko bahut zyada caution baratne ki zarurat hai, kyunki shares ka list rehna aur company ka chalte rehna hi mushkil lag raha hai.

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