Mayur Leather Products Ltd
Mayur Leather Products Q2 FY27: No Revenue, Going Concern Doubt, Auditor Concerns
RESULTS
▼ Concern Flagged
HIGH RISK
📅 Filed on BSE: 04 Nov 2026, 11:00 PM IST · BSE ID: d5224b75-a2f9-44aa-8cf9-63acd7b1de6f
View Original BSE Filing (PDF)
💡
In Simple Terms
The company reported no sales for the last quarter and half-year, faces serious auditor concerns, and an important director has quit.
🤖 AI Summary
- Mayur Leather Products approved Q2 FY27 and half-year unaudited financial results with no revenue from operations.
- Auditor issued an adverse conclusion citing significant accounting matters and going concern doubts due to accumulated losses of Rs. 629.44 lakhs.
- Independent Director Ms. Jyoti Soni resigned, effective November 4, 2026, leading to committee reconstitution.
- Company is shifting its registered office to Plot No. 199, 1ST Floor, Giriraj Nagar, Mansarovar, Jaipur, from November 15, 2026.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Accumulated Losses (as of Sep 30, 2026)
Rs. 629.44 lakhs
Subsidiary Land Sale Adjustment (FY26)
Rs. 213.60 lakhs
Sale of subsidiary land by bank (Aug 2024)
Rs. 226 lakhs
Disposal of Fixed Assets (FY26)
Rs. 166.73 lakhs
🏢 How This Affects the Company
The company reported no revenue from operations for Q2 FY27 and the half-year ended September 30, 2026, indicating a continued lack of core business activity. No manufacturing activities were carried out.
Accumulated losses reached Rs. 629.44 lakhs as of September 30, 2026, raising significant doubt about the company's ability to continue as a going concern, as highlighted by the auditor.
The resignation of Ms. Jyoti Soni as Independent Director and subsequent cessation from three key committees necessitates reconstitution of these committees to comply with regulatory requirements. The registered office will shift from November 15, 2026.
The auditor issued an adverse conclusion due to material and pervasive issues, including non-provision of bank statements, continued recognition of auctioned assets, and non-transfer of unpaid dividends to IEPF, increasing financial and compliance risks.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this filing.
👤
Who Is Affected
Shareholders are affected by the company's continued lack of revenue and substantial accumulated losses of Rs. 629.44 lakhs, which could impact the company's long-term viability.
🔍
Management Signal
Management is seeking to address going concern issues through future business projections, vendor settlements, and potential promoter fund infusion.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List - track these upcoming events
Q3 FY27 results — check for any revenue generation or reduction in accumulated losses.
Outcome of Debt Recovery Tribunal proceedings — monitor resolution regarding auctioned assets.
Updates on auditor concerns — observe if bank statements and accounting issues are addressed.
HIGH RISK
Auditor's adverse conclusion, going concern doubt, and no revenue generation indicate high operational and financial risk.
💡 Investor Takeaway
Mayur Leather Products reported no revenue from operations for Q2 FY27 and accumulated losses of Rs. 629.44 lakhs. The auditor issued an adverse conclusion, citing significant unverified bank accounts, continued recognition of auctioned assets, and pending Debt Recovery Tribunal proceedings.
⚖️ Strengths & Concerns
⚠️ Concerns
- No revenue from operations reported for the quarter and half year ended September 30, 2026, indicating an absence of core business activity.
- Accumulated losses of Rs. 629.44 lakhs as of September 30, 2026, raise material uncertainty about the company's ability to continue as a going concern.
📅 Company Track Record
No previous filings were found for Mayur Leather Products Ltd, indicating this is the first publicly available financial disclosure analyzed for the company on ForgeUp.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What were Mayur Leather Products Ltd.'s revenues for Q2 FY27?
Mayur Leather Products Ltd. reported no revenue from operations for the quarter and half year ended September 30, 2026.
What is the accumulated loss for Mayur Leather Products Ltd. as of September 30, 2026?
As of September 30, 2026, Mayur Leather Products Ltd.'s accumulated losses amounted to Rs. 629.44 lakhs.
What is the auditor's conclusion on Mayur Leather Products Ltd.'s Q2 FY27 financial results?
The auditor expressed an adverse conclusion on Mayur Leather Products Ltd.'s unaudited financial results for Q2 FY27 due to significant accounting issues.
What was the reason for the Independent Director's resignation at Mayur Leather Products Ltd.?
Ms. Jyoti Soni resigned as an Independent Director of Mayur Leather Products Ltd., with no material reasons other than those mentioned in her resignation letter dated November 04, 2026.
Questions based on this BSE filing only. For information purposes.