MPL Plastics Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2023

Notes:
1. The above unaudited financial results were reviewed by the Audit Committee, and approved by the Board of Directors at their meeting held on 14th August, 2023.

2. The Statutory Auditors of the Company have carried out the Limited Review of the above unaudited financial results for the quarter ended 30th June, 2023 and have issued their Limited Reivew Report on the same.

3. The figures for the quarter ended 31st March, 2023 are the balancing figures in respect of the full financial year and the published year to date figures until the end of the third quarter of the relevant financial year.

4.The Company has closed down its operations at Silvassa plant during the previous year and the Management is constantly reviewing the situation and evaluating other avenues for business operations. The Company's manufacturing operations cannot be recommenced as the facilities are not technically feasible and financially viable. However, the Company is considering various alternatives and viable options to raise finances either as loans or from sale of assets of the Company to meet its various financial and business obligations which indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern.

5. As the Company operates in a single business segment, segment wise reporting including that in respect of operating Business Segments is not applicable.

6. Previous period figures have been regrouped/reclassified to conform to the current period’s classification.