Multipurpose Trading posts a loss. Its auditor is chasing a ₹2 cr advance from 2014.
The company had zero revenue for the year. Finance costs consumed it, and a related-party advance from a decade ago still isn't back.
What's new
- Multipurpose Trading swung from a ₹17.08 lakh profit to a ₹46.78 lakh net loss, with zero revenue from operations.
- Finance costs hit ₹66.19 lakhs, overwhelming the company's fee-based income.
- Auditor flagged a ₹2 cr advance to One City Promoters, a related party, made in FY2014 and still unrecovered.
Why this matters
This is not just a bad year. It is a ₹7 lakh market-cap company with zero revenue, a net loss, and a related-party advance that has been sitting unrecovered for over a decade. The auditor's emphasis-of-matter on the ₹1.46 crore net carrying value of that advance is the real story. For a company this small, it's a material balance-sheet risk.
What we're watching
- Any move by the board or SEBI on the ₹2 cr advance to One City Promoters.
- Whether the company can generate operating revenue in FY27.
- The path to servicing ₹66.19 lakhs in finance costs with no top line.
The full read
Multipurpose Trading & Agencies reported a ₹46.78 lakh net loss for FY26. It had zero revenue from operations. Finance costs were ₹66.19 lakhs. The company, with a market cap of ₹7 crore, is essentially dormant but still funding costs. The auditor's report contains the real risk. Karmv & Company flagged a ₹2 crore advance made to related party One City Promoters Private Ltd. back in FY2014. The advance still hasn't been recovered, and its net carrying value stands at ₹1.46 crore. That is over 20% of the company's total market value, tied up in a decade-old advance to a promoter entity. The auditor had to issue a formal emphasis-of-matter to draw attention to it. For a micro-enterprise with no top line and rising costs, that balance-sheet overhang is the story.
Questions answered
- How did the company swing to a loss with no revenue?
- Multipurpose Trading reported zero revenue from operations for FY26. Its finance costs of ₹66.19 lakhs, on top of other expenses, drove the net loss of ₹46.78 lakhs. The company had posted a small profit the prior year.
- What is the auditor's concern about the related-party advance?
- The auditor, Karmv & Company, issued an emphasis-of-matter paragraph. It concerns a ₹2 crore advance made to One City Promoters Private Ltd. in FY2014 that has not been recovered, with a net carrying value of ₹1.46 crore on the books as of March 2026.
- How significant is this advance relative to the company?
- The ₹1.46 crore carrying value of the advance is more than double the company's entire market capitalization of ₹7 crore. It represents a major liquidity and governance risk for an entity of this scale.
- What else did the board decide?
- The board reappointed Deepak Somaiya & Co. as the secretarial auditor. The appointment is routine and does not relate to the financial performance or the flagged advance.