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MPF Systems Limited Audit Report / Information 2026

May 19, 2026

62914_rns_2026-05-19_b30c208d-e28e-4cdc-b734-85b00e4168ad.pdf

Audit Report / Information

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S K BHAVSAR & CO.
CHARTERED ACCOUNTANTS
CA INDIA

INDEPENDENT AUDITOR'S REPORT ON AUDITED STANDALONE QUARTERLY FINANCIALS RESULTS AND YEAR TO DATE RESULTS OF MPF SYSTEMS LIMITED PURSUANT TO THE REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

To,
The Board of Directors of
MPF SYSTEMS LIMITED

Report on the audit of the Standalone Financial Results Opinion

We have audited the accompanying standalone financial results of MPF SYSTEMS LIMITED (the company) for the quarter and year ended 31st March, 2026 (“the statement”) attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “LODR Regulations”).

In our opinion and to the best of our information and according to the explanations given to us, these standalone financial results:

(a) are presented in accordance with the requirements of Regulation 33 of the LODR Regulations in this regard; and

(b) gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ('Ind AS') prescribed under section 133 of the Companies Act, 2013 ('the Act') read with the Companies (Indian Accounting Standards) Rules, 2015, and other accounting principles generally accepted in India, of the consolidated net profit after tax and other comprehensive income and other financial information of the Group and its joint ventures, for the year ended 31 March 2026.

Basis of Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“ICAI”) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matters

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1047, Sun Gravitas, Nr. Shyamal Cross Road, Satellite, Ahmedabad-380 015.
(O) 079-4924 2234 (M) +91 94299 06707, 99987 48626
[email protected]


S K BHAVSAR & CO.
CHARTERED ACCOUNTANTS

We draw attention that the company has significant trade payables; however, the bifurcation between Micro, Small and Medium Enterprise (MSME) creditors has not been provided. Non-disclosure of the MSME classification is not in compliance with the provisions of the Micro, Small and Medium Enterprises Development Act, 2006, thereby affecting both regulatory compliance and financial transparency. Further, advances paid to suppliers remain unconfirmed. In absence of confirmations from these parties raises concern regarding the reliability and completeness of liabilities reported in the financial statements.

Responsibilities of Management and Board of Directors for the Standalone Financial Results

These standalone financial results have been prepared on the basis of the interim financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the LODR Regulations.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

1047, Sun Gravitas, Nr. Shyamal Cross Road, Satellite, Ahmedabad-380 015.
(O) 079-4924 2234 (M) +91 94299 06707, 99987 48626
[email protected]


S K BHAVSAR & CO.
CHARTERED ACCOUNTANTS
CA INDIA

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

  • Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
  • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
  • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
  • Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
  • Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

Other Matters

Attention is drawn to the fact that the figures for the quarter ended March 31, 2026 and the corresponding quarter ended in the previous year as reported in these standalone financial results are the balancing figures between the audited figures in respect of full financial year and the published

1047, Sun Gravitas, Nr. Shyamal Cross Road, Satellite, Ahmedabad-380 015.
(O) 079-4924 2234 (M) +91 94299 06707, 99987 48626
[email protected]


S K BHAVSAR & CO.
CHARTERED ACCOUNTANTS

standalone year to date figures up to the end of third quarter of the financial year, which were subject to limited review.

Place: Ahmedabad
Date: May 19, 2026

For S K Bhavsar & Co.
Chartered Accountants
ICAI Firm Registration No.: 145880W

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(Shivam Bhavsar)
Proprietor
Mem. No. 180566
UDIN: 26180566IXMGNC6551

1047, Sun Gravitas, Nr. Shyamal Cross Road, Satellite, Ahmedabad-380 015.
(O) 079-4924 2234 (M) +91 94299 06707, 99987 48626
[email protected]


MPF SYSTEMS LIMITED
(CIN: L35100MAF093PLC287934)
Reg. Office- Unit No. B 203, Rustomple Central Park, Andheri Auto Road, Chakala, Andheri East, Mumbai, Mumbai, Maharashtra, India,400069
E.compl@[email protected] 00 [email protected] CQ: +97-5356/A4354
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020
Sr No Particulars Quarter ended March 31, 2020 Quarter ended December 31, 2020 Quarter ended March 31, 2020 Year to date figures for the March 31, 2020 Year to date figures for the March 31, 2020
(Audited) (Un-Audited) (Audited) (Audited) (Audited)
1 Revenue From Operations
1(a) Revenue from Operations 440.49 0.00 0.00 440.49 0.00
1(b) Other Income 3.24 0.00 0.00 3.24 0.00
Total Income (Net) 445.73 0.00 0.00 445.73 0.00
2 Expenses
a. Cost of Materials Consumed 0.00 0.00 0.00 0.00 0.00
b. Purchases of Stock-in-trade 0.00 0.00 0.00 0.00 0.00
c. Changes in Inventories of Stock-in-Trade 0.00 0.00 0.00 0.00 0.00
d. Employee benefits expenses 1.06 2.61 2.25 9.30 6.00
e. Finance Cost 0.24 0.00 0.01 0.00 55.75
f. Depreciation and Amortization Expenses 0.00 0.00 0.00 0.00 0.00
g. Cash Expenses 0.00 0.00 46.72 0.00 46.72
h. Other Expenses 4.04 1.96 (18.54) 17.49 60.96
Total Expenses 5.33 4.57 32.44 27.23 199.94
3 Profit/(Loss) before Exceptional and Extraordinary items and tax (1-2) 440.41 (4.57) (30.44) 418.52 (169.89)
4 Exceptional Items 0.00 0.00 0.00 0.00 0.00
5 Profit/(Loss) before Extraordinary items and tax (3-4) 440.41 (4.57) (30.44) 418.52 (169.89)
6 Extraordinary Items 0.00 0.00 0.00 0.00 0.00
7 Profit before Tax (5-6) 440.41 (4.57) (30.44) 418.52 (169.89)
8 Tax Expenses
(a) Current Tax 35.62 0.00 0.00 35.62 0.00
(b) Deferred Tax 0.00 0.00 0.00 0.00 0.00
Total Tax Expenses 35.62 0.00 0.00 35.62 0.00
9 Net Profit/(Loss) for the period from continuing Operations (7-8) 404.79 (4.57) (30.44) 382.90 (169.89)
10 Profit (Loss) from Discontinuing operations before Tax 0.00 0.00 0.00 0.00 0.00
11 Tax Expenses of Discontinuing Operations 0.00 0.00 0.00 0.00 0.00
12 Net Profit/(Loss) from discontinuing operations after Tax (10-11) 404.79 (4.57) (30.44) 382.90 (169.89)
13 Share of Profit (Loss) of associates and Joint Vatures accounted for using equity method 0.00 0.00 0.00 0.00 0.00
14 Net Profit (Loss) for the period (12-13) 404.79 (4.57) (30.44) 382.90 (169.89)
15 Other comprehensive income, net of income tax
a) i) Amount of item that will not be reclassified to profit or loss 0.00 0.00 0.00 0.00 0.00
ii) Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00 0.00 0.00 0.00
iii) 6 item that will be reclassified to profit or loss 0.00 0.00 0.00 0.00 0.00
iv) Income tax relating to items that will be reclassified to profit or loss 0.00 0.00 0.00 0.00 0.00
Total other comprehensive income, net of income tax 0.00 0.00 0.00 0.00 0.00
16 Total Comprehensive Income for the period 404.79 (4.57) (30.44) 382.90 (169.89)
17 Details of equity share capital
Paid-up Equity Share Capital 271.93 271.93 271.93 271.93 271.93
Field Value of Equity Share Capital 10.00 10.00 10.00 10.00 10.00
18 Details of debt securities
Paid-up Debt capital 0.00 0.00 0.00 0.00 0.00
Field value of debt Securities 0.00 0.00 0.00 0.00 0.00
19 Revenue excluding recalculation reserves as per balance sheet of previous accounting year 76.15 0.00 (306.74) 76.15 (306.74)
20 Debenture Redemption reserve 0.00 0.00 0.00 0.00 0.00
21 Earning per Share
1 Earning per Share for Continuing Operations
Basic Earning (Loss) per share from Continuing operations 14.89 (0.17) (1.12) 14.08 (0.25)
Diluted Earning (Loss) per share from Continuing operations 14.89 (0.17) (1.12) 14.08 (0.25)
II Earning per Share for discontinuing Operations
Basic Earning (Loss) per share from discontinuing operations 0.00 0.00 0.00 0.00 0.00
Diluted Earning (Loss) per share from discontinuing operations 0.00 0.00 0.00 0.00 0.00
III Earnings per Equity Share
Basic Earning (Loss) per share from Continuing and discontinuing operations 14.89 (0.17) (1.12) 14.08 (0.25)
Diluted Earning (Loss) per share from Continuing and discontinuing operations 14.89 (0.17) (1.12) 14.08 (0.25)

Note:
1 The above results have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the company at their respective meetings held on May 19, 2026. The Statutory Auditors of the company have audited the results for the year ended March 31, 2026.
2 These Financial Statements have been prepared in accordance with the India/Accounting Standards (Ind AS) notified under section 123 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015, as amended issued thereunder and other provisions of the Companies Act 2013, as applicable and guidelines issued by the Securities and Exchange board of India ("SEBI") and other recognised accounting principles and policies generally accepted in India to the extent possible. These financial results are presented in accordance with the requirements of Regulation 33 of the SEBI (Acting Obligations and Disclosure Requirements) Regulations, 2015 and circular issued thereunder.
3 There are no Reportable segments, which signify or in the aggregate qualify for separate disclosure as per provision of the relevant Ind AS. The management does not believe that the information about segments which are not reportable under Ind AS, would be useful to the users of these financial statements.
4 The figures of the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between audited figures in respect of full financial year and the published year to date figures up to the end of the third quarter of the year.
5 Figures pertaining to the previous years/periods have been rearranged/regrucped , wherever necessary, to make them comparable with those of the current years/periods.

For and on Behalf of the Board of MPP Systems Limited

Place: Mumbai
Date: May 19, 2026

Sharang Amar Sharma
DIN: 11430567
Managing Director


MPF SYSTEMS LIMITED

(CIR: L35103401562PLC207844)

Reg. Office: Unit No. B 203, Rudompee Central Park, Graham Gans Road (Dakota, Alishan East, Mumbai, Mumbai, Maharashtra, India 400069

E:[email protected] W: www.moframpdfreepatema.com AC: +91 6206364064

Audited Statement of Assets & Liabilities as of 31st March, 2020

Particulars Audited AS AT 31.03.2020 AS AT 31.03.2025
1 Assets
Non-Current Assets
(a) Property, Plant and Equipment
(b) Capital work-in-ensures
(c) Investment Property
(d) Goodwill
(e) Other Intensible assets
(f) Intensible assets under development
(g) Biological Assets other than heater plants
(h) Financial Assets
(i) Investments
(j) Trade receivables
(k) Loans 205.00
(l) Others (to be specified)
(l) Detained tax assets (net)
(m) Other non-current assets
Total (A) 208.00
2 Current assets
(a) Inventories
(b) Financial Assets
(i) Investments
(j) Trade receivables 445.49
(k) Cash and cash equivalents 2.22 32.15
(l) Bank balances other than (iii) above
(k) Loans 7.49 205.33
(m) Others (to be specified)
(n) Current Tax Assets (Net) 0.12
(o) Other current assets
Total (B) 455.21 237.61
Total Assets (A+B) 555.21 237.61
3 EQUITY AND LIABILITIES
EQUITY
(a) Equity Share capital 271.93 271.93
(b) Instruments entirely equity in nature
(c) Other Equity 76.15 (306.74)
Total (A) 348.99 (54.61)
4 LIABILITIES
4.1 Non-current liabilities
(a) Financial Liabilities
(i) Borrowings 266.86
(j) Trade liabilities
(k) Other financial liabilities
(l) Provisions
(m) Detained tax liabilities (Net)
(n) Other non-current liabilities
Total (B1) 266.86
42 Current liabilities
(a) Financial Liabilities
(i) Borrowings 260.00
(j) Trade liabilities
(k) Other financial liabilities
(l) Provisions
(m) Other non-current liabilities
Total (B2) 45.27 272.42
Total Equity and Liabilities (A+B1+B2) 555.21 237.61

For and on Behalf of the Board of
MPF Systems Limited

Place: Mumbai
Date: May 19, 2020

Sharang Amar Sharma
DIN: 11428567
Managing Director


MPF SYSTEMS LIMITED
(CIN: L35105MH1993PLC287894)
Reg. Office- Unit No. B 203, Rustomjee Central Park, Andhari Kurla Road,Chakala, Andhari East, Mumbai, Mumbai, Maharashtra, India,400069
E:[email protected] W: www.matherpiatthresystems.com (C): +91 6356364364

AUDITED CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2026. (Rs. in Lakhs)
Particulars Year Ended
31st March, 2026
Rs. Year Ended
31st March, 2025
Rs.
(A) CASH FLOW FROM OPERATING ACTIVITIES
1. Net Profit Before Tax 418.52 (169.89)
2. Adjustments for :
a) Depreciation - -
b) Net (gain)/Loss fair valuation of investments through profit and loss - -
c) Interest Income - (0.05) (0.05)
Operating Profit before Working Capital change (1+2) 418.52 (169.94)
3. Adjustments for Working Capital Changes:
Decrease/(Increase) in Receivables (445.49) 0.01
Decrease/(Increase) in Inventories - -
Decrease/(Increase) in Short Term Loans & Advances - (205.33)
Decrease/(Increase) in Other Current Assets - 0.10
Increase/(Decrease) in Payables (0.44) (1.54)
Increase/(Decrease) in Other Current Liabilities (7.28) (4.10)
Increase/(Decrease) in Provisions 35.57 (417.64) (210.75)
Cash Generated From Operations
Income Tax 0.88 (380.09)
(35.00)
NET CASH FROM OPERATING ACTIVITIES (A) (34.62) (380.69)
(B) CASH FLOW FROM INVESTING ACTIVITIES
a) Fixed Assets Purchase -Sale - -
b) Increase/(Decrease) in Other Non Current Assets - -
c) Non current Investment - -
NET CASH FROM INVESTING ACTIVITIES (B) - -
(C) CASH FLOW FROM FINANCING ACTIVITIES
a) Receipt/(Repayment) of Short term Borrowings 6.85 138.30
b) Interest Received - 0.05
c) Decrease/(Increase) in Long Term Loans & Advances (2.16) 260.50
d) Share Application Money Receipt on issued of Capital
NET CASH FROM FINANCING ACTIVITIES (C) 4.69 398.85
(D) Net Increase/(Decrease) in Cash and Cash Equivalents Total (A+B+C) (29.93) 18.16
(E) Cash and Cash Equivalents -- Opening Balance 32.10 13.99
(F) Cash and Cash Equivalents -- Closing Balance 2.22 32.15
Note: Previous year's figures have been regrouped/rearranged
whenever considered necessary.
Year Ended on
31st March,
2026 (Rs. In Lakhs)
Year Ended on
31st March,
2025
--- --- ---
Note:
A) Components of Cash & Cash Equivalents
Cash on Hand 0.14 0.24
Balance with Banks
In Current Accounts/Cash Credit Accounts 2.09 31.92
Cash & Cash Equivalents 2.22 32.15

For & on behalf of the Board,
MPF SYSTEMS LIMITED

Sharang Amar Sharma
DIN: 11428567
Managing Director

Place : Mumbai
Date : May 19, 2026


MPF Systems Limited

CIN: L35105MH1993PLC287894

Registered Office: Unit No. B 203, Rustomjee Central Park, Andheri Kurla Road, Chakala, Andheri East, Mumbai, Mumbai, Maharashtra-400069, India

Email Id: [email protected] Mobile No: +91 6356364364

Website: www.matherplattfiresystems.com

Date: 19/05/2026

To,

Department of Corporate Services,

BSE Limited

Phiroze Jeejeebhoy Towers,

Dalal Street, Mumbai – 400 001

Scrip ID: MPFSL

Scrip Code: 532470

Subject: Declaration of Unmodified Opinion

Dear Sir,

I, Sharang Amar Sharma, Managing Director of M/s. MPF Systems Limited having its registered office at Unit No. B 203, Rustomjee Central Park, Andheri Kurla Road, Chakala, Andheri East, Mumbai, Mumbai, Maharashtra-400069, India, hereby declare that, the Statutory Auditors of the Company, M/s S K Bhavsar & Co, Chartered Accountants, Ahmedabad have issued an Audit Report with unmodified opinion on audited Standalone financial results for the quarter and year ended on 31st March, 2026.

This declaration Obligations is issued in compliance of Regulation 33(3)(d) of the SEB! (Listing and Disclosure Requirements) CIR/CFD/CMD/56/2016 Regulations, dated 27th May, 2016

For, MPF Systems Limited

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Sharang Amar Sharma

Managing Director

DIN: 11428567