Miven Machine Tools Q2 loss narrows to Rs 12.30 lakh in FY27

Miven Machine Tools Limited reported a Rs 12.30 lakh loss for the quarter ended 30 September 2026, compared with a Rs 15.61 lakh loss in the June 2026 quarter, while revenue from operations for the first half of FY27 was Rs 6 lakh against total expenses of Rs 34.14 lakh.

How did Miven Machine Tools perform in Q2 FY27?

Miven Machine Tools reported revenue from operations of Rs 3 lakh for the quarter ended 30 September 2026, unchanged from the quarter ended 30 June 2026. Total revenue was Rs 3.08 lakh, including Rs 0.08 lakh of other income, compared with Rs 3.15 lakh in Q1 FY27, including Rs 0.15 lakh of other income.

The Q2 FY27 loss after tax was Rs 12.30 lakh, narrowing by Rs 3.31 lakh sequentially from Rs 15.61 lakh in Q1 FY27. The company reported no exceptional items or tax expense in either quarter, leaving the loss before tax and loss after tax at Rs 12.30 lakh for the September quarter.

Total expenses declined by Rs 3.38 lakh to Rs 15.38 lakh in Q2 FY27 from Rs 18.76 lakh in Q1 FY27, while total revenue fell by Rs 0.07 lakh. Basic and diluted earnings per share, not annualised, were a loss of Rs 0.41 in Q2, compared with a loss of Rs 0.52 in the preceding quarter.

What do the first-half FY27 numbers show?

Miven Machine Tools generated Rs 6 lakh of revenue from operations in the half-year ended 30 September 2026 and recorded a Rs 27.91 lakh loss after tax. Other income was Rs 0.23 lakh, taking total revenue to Rs 6.23 lakh, while total expenses were Rs 34.14 lakh.

The half-year loss was lower than the Rs 31.43 lakh loss reported for the half-year ended 30 September 2025. However, total expenses increased from Rs 31.43 lakh a year earlier to Rs 34.14 lakh in the latest half-year, and the prior-year half-year revenue fields were not populated in the financial-results statement.

The September quarter contributed Rs 3 lakh, or half, of the Rs 6 lakh first-half operating revenue, matching the June-quarter contribution. Its Rs 12.30 lakh loss was lower than the Rs 15.61 lakh Q1 FY27 loss, reflecting the reduction in quarterly expenses to Rs 15.38 lakh from Rs 18.76 lakh.

What happened to cash flow and cash balances?

Miven Machine Tools used Rs 10.97 lakh in operating activities during the half-year ended 30 September 2026. The cash flow included the Rs 27.91 lakh pre-tax loss, partly offset by a Rs 5.45 lakh fall in trade receivables, an Rs 8.69 lakh increase in trade payables and an Rs 7.20 lakh increase in other current liabilities.

Other current assets increased by Rs 4.17 lakh during the half-year, reducing operating cash flow. Investing activities generated Rs 0.73 lakh, comprising Rs 0.50 lakh in sale proceeds from investments and Rs 0.23 lakh of dividend received, while financing activities generated Rs 9.73 lakh through proceeds from long-term borrowings.

Cash and cash equivalents fell by Rs 0.51 lakh to Rs 0.21 lakh at 30 September 2026 from Rs 0.72 lakh at the start of the financial year. The cash-flow statement also shows Rs 68.11 lakh used in operating activities for the year ended 31 March 2026, but that annual figure is not directly comparable with the latest six-month outflow.

What does Miven Machine Tools’ balance sheet show?

Miven Machine Tools reported total assets of Rs 31.22 lakh at 30 September 2026, down from Rs 33.51 lakh at 31 March 2026. Trade receivables declined to Rs 16.50 lakh from Rs 21.95 lakh, while other current assets increased to Rs 14.51 lakh from Rs 10.34 lakh.

Equity share capital was unchanged at Rs 300.35 lakh, but other equity was negative Rs 923.94 lakh at 30 September 2026, compared with negative Rs 896.02 lakh six months earlier. The Rs 27.92 lakh movement in other equity broadly corresponds with the Rs 27.91 lakh loss reported for the first half of FY27.

Non-current borrowings rose to Rs 375.63 lakh from Rs 365.90 lakh at 31 March 2026. Trade payables other than dues to micro and small enterprises increased to Rs 137.71 lakh from Rs 129.35 lakh, while payables to micro and small enterprises rose to Rs 0.39 lakh from Rs 0.06 lakh.

What did the auditor flag in the September 2026 review?

Miven Machine Tools received a qualified conclusion because it had not provided Rs 2.81 lakh of interest on an unsecured loan from related parties for the quarter ended 30 September 2026. The auditor said recognising the interest would have increased finance costs and other financial liabilities by Rs 2.81 lakh and reduced total comprehensive income and other equity by the same amount.

Management said it was discussing a waiver of the loan and accumulated interest with lender Miven Mayfran Conveyors Pvt Ltd. The company disclosed cumulative interest under negotiation of Rs 33.72 lakh that had not been provided for, while the Rs 0.08 lakh Q2 other income represented dividend income received from SVC Co-op Bank upon withdrawal of an investment.

The auditor also drew attention to a material uncertainty relating to going concern. It said total outside liabilities of Rs 654.81 lakh exceeded total assets of Rs 31.22 lakh by Rs 623.59 lakh, and noted that Miven Machine Tools had no tangible property, plant and equipment or inventory at the reporting date.

What business does Miven Machine Tools report?

Miven Machine Tools reported manufacturing, assembling, trading and ancillary services of water-dispensing machines as its single reportable segment under Indian Accounting Standard 108, or Ind AS 108. The company said all sales and assets were in India at 30 September 2026.

The unaudited quarterly and half-year results were prepared under Indian Accounting Standards, including Ind AS 34 for interim financial reporting, and approved by the board on 12 November 2026. The board meeting that approved the results began at 12:30 pm Indian Standard Time and concluded at 1:30 pm on that date.

Conclusion

Miven Machine Tools reduced its quarterly loss by Rs 3.31 lakh from Q1 FY27, but first-half revenue from operations remained Rs 6 lakh against Rs 34.14 lakh of expenses. The filing also shows Rs 10.97 lakh of operating cash outflow, cash and cash equivalents of Rs 0.21 lakh, and liabilities exceeding assets by Rs 623.59 lakh according to the auditor.

The next disclosed matters to watch are management’s business plans and support from new promoters, which it cited in addressing the going-concern issue, and the negotiations over the related-party borrowing and Rs 33.72 lakh of unprovided cumulative interest. A waiver outcome could affect future reported finance costs, liabilities and equity.