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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Mideast Integrated Steels Ltd

Mideast Integrated Steels: Q2 FY27 Standalone Net Loss (INR 111.60) Mn

RESULTS ▼ Concern Flagged HIGH RISK
📅 Filed on BSE: 12 Nov 2026, 06:48 PM IST  ·  BSE ID: 28fa89a8-ec46-42ca-9d42-3e3a4f08ff5e
View Original BSE Filing (PDF)
💡
In Simple Terms
The company reported a standalone loss of INR 111.60 million for the second quarter, with auditors flagging significant financial risks.
🤖 AI Summary
  • Mideast Integrated Steels reported a standalone net loss of (INR 111.60) Mn for the quarter ended September 30, 2026 (Q2 FY27).
  • Total income for Q2 FY27 was INR 7.88 Mn, with zero revenue from operations.
  • The company's total equity stood at INR 6,007.30 Mn as of September 30, 2026.
  • Auditors issued a qualified opinion due to lack of insurance for fixed assets worth INR 1,561.42 Cr and unprovided non-moving debtors of INR 98.02 Cr.
  • The company continues to dispute a compensation liability of approximately INR 924.75 crore with the State of Odisha.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Net Profit/(Loss) after tax Q2 FY27 (Standalone)
(111.60) Rs.InMn.
Not comparable — limited prior period data.
Total Income Q2 FY27 (Standalone)
7.88 Rs.InMn.
Not comparable — limited prior period data.
Total Equity as at 30 September, 2026
6,007.30 Rs.InMn.
Fixed Assets (Gross Acquisition Value) as at 30 September, 2026
1561.42 Cr
Trade Receivables (Total) as at 30 September, 2026
113.95 Crores
Unprovided Compensation Liability
924.75 crore
🏢 How This Affects the Company
📈
Business Impact
The company recorded zero revenue from operations for Q2 FY27, similar to Q1 FY27, indicating no active operational business for these periods.
💰
Financial Impact
The ongoing net losses reduce retained earnings, with a net loss of (INR 232.56) Mn for the half year ended September 30, 2026. The unprovided liability of approximately INR 924.75 crore and unprovided non-moving debtors of INR 98.02 Cr pose significant balance sheet risks.
⚙️
Operational Impact
Mining operations at the Roida-I Iron Ore Mines halted on January 1, 2018, with the mining lease subsequently awarded to Jindal Steel Limited, indicating cessation of core mining activities.
⚠️
Risk Impact
Auditors noted high risk due to the absence of insurance cover for fixed assets worth INR 1,561.42 Cr and significant unprovided non-moving debtors of INR 98.02 Cr. The disputed INR 924.75 crore compensation liability remains unprovided.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this financial results filing.
👤
Who Is Affected
Shareholders are impacted by the continued net losses reducing retained earnings from INR 2,540.80 Mn to INR 2,308.24 Mn during the half-year period. The ongoing unprovided liabilities also affect the company's financial health.
🔍
Management Signal
The management continues to dispute the significant compensation liability and has pending applications before the Supreme Court regarding the sale of remaining iron ore stock.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List - track these upcoming events
Supreme Court hearing on pending applications regarding iron ore sale and liability dispute.
Q3 FY27 financial results for any change in operational revenue.
Updates on resolution of unprovided non-moving debtors flagged by auditors.
HIGH RISK The company has continued net losses, zero operational revenue, significant unprovided liabilities, and auditor's going concern flags from prior periods.
💡 Investor Takeaway
Mideast Integrated Steels reported Q2 FY27 standalone net loss of (INR 111.60) Mn with zero revenue from operations. Auditors highlighted significant risks including uninsured fixed assets worth INR 1,561.42 Cr and unprovided non-moving debtors of INR 98.02 Cr.
⚖️ Strengths & Concerns

⚠️ Concerns

  • Standalone net loss for Q2 FY27 was (INR 111.60) Mn, continuing the trend of losses for the company.
  • Auditors issued a qualified opinion citing no insurance cover for fixed assets worth INR 1,561.42 Cr and unprovided non-moving debtors of INR 98.02 Cr.
📅 Company Track Record
Mideast Integrated Steels has reported recurring losses, including a Q1 FY27 standalone net loss of (INR 120.96) Mn with zero revenue, and an FY26 standalone net loss of (INR 662.79) Mn. Auditors previously flagged a Rs. 924.75 Cr unprovided liability and raised going concern issues in FY26.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was Mideast Integrated Steels' standalone net profit/loss for Q2 FY27?
Mideast Integrated Steels reported a standalone net loss after tax of (INR 111.60) Mn for the quarter ended September 30, 2026 (Q2 FY27).
Did Mideast Integrated Steels generate revenue from operations in Q2 FY27?
No, Mideast Integrated Steels reported zero revenue from operations for the quarter ended September 30, 2026 (Q2 FY27).
What significant concerns did the auditors highlight for Mideast Integrated Steels?
Auditors issued a qualified opinion due to the absence of insurance cover for fixed assets worth INR 1,561.42 Cr and unprovided non-moving debtors totaling INR 98.02 Cr as of September 30, 2026.
What is the status of Mideast Integrated Steels' disputed compensation liability?
The company continues to dispute a compensation liability of approximately INR 924.75 crore with the State of Odisha, which remains unprovided in its books of account, and has filed applications before the Hon'ble Supreme Court.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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