Mackinnon Mackenzie & Company Ltd Approves Unaudited Financial Results for Q3 2025 with Qualified Limited Review Report
Mackinnon Mackenzie & Company Ltd held a Board of Directors meeting on Thursday, 12 February 2026, where they approved the unaudited financial results for the quarter ended December 31, 2025. The approval came with a qualified limited review report by the auditor, JM & Associates Chartered Accountant. The report highlighted several issues, including outstanding bank loans, old balances, long-standing trade payables, and certain old credit balances. The company also faces material uncertainty related to going concern due to accumulated losses and negative net worth. However, the 'lending company' has provided a support letter, leading the management to assess that the company continues to be a going concern.
Key Highlights
- Approval of unaudited financial results for Q3 2025 with a qualified limited review report.
- Outstanding bank loans of Rs 82561.29 Lakhs, including interest, with a decree for Rs 86,810.46 lakhs from the 'Lending Company'.
- Overstatement of other current assets and understatement of loss and negative net worth by Rs. 8.19 lakhs due to old balances.
- Unclaimed trade payables of Rs. 26.51 lakhs and old credit balances of Rs. 148.53 lakhs, leading to understatement of loss and negative net worth.
- Material uncertainty related to going concern due to accumulated losses and negative net worth.
- Support letter from the 'lending company' assessing the company's ability to continue as a going concern.
Price Impact
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