Interim report
Page 1
NO.BS/SE/325/2024 A एमएमटीसी for firs MMTC LIMITED भारत सरकार का उपक्रम A GOVT . OF INDIA ENTERPRISE touching lives , adding value Core # 1 , SCOPE Complex , 7 , Institutional Area , Lodi Road , New Delhi - 110003 Phone No.24362200 ; 24361889 Fax No.24360724 Email : akmisra@mmtclimited.com Website : www.mmtclimited.com CIN : L51909DL1963GO1004033 11.08.2026 To , National Stock Exchange of India Ltd Exchange Plaza Bandra Kurla Complex Mumbai 400051 NSE Symbol : MMTC Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400001 Company Scrip Code : 513377 Sub : Outcome of the 491st Meeting of Board of Directors of MMTC Limited held on 11th August , 2026 . Dear Madam / Sir , Pursuant to provisions of Regulation 33 and 52 of SEBI ( Listing Obligations & Disclosure Requirements ) Regulation , 2015 , we inform you that the Board of Directors of the company in its meeting held on 11th August , 2026 has approved the following : a ) Unaudited Standalone Financial Results of the company for the quarter ended 30th June , 2026 b ) Unaudited Consolidated Financial Results of the company for the quarter ended 30th June , 2026 . c ) Limited Review Report on Unaudited Standalone and Consolidated Financial Results . A copy of the Unaudited Standalone and Consolidated Financial Results along with the Limited Review Report as mentioned above are attached herewith . The aforesaid results are also being disseminated on the company's website www.mmtclimited.com . The Board Meeting commenced at 1530hrs and concluded at 6:30 P.M. This is for your kind information and records . Thanking you , Encl : As Above Yours faithfully , For MMTC Limited ( Ajay Kumar Misra ) Company Secretary
Page 2
- ] DINESH JMN & ASSOCIATES I______ CHARTERED ACCOUNTANTS A-us, Vikas Marg, 2nd Floor Shakarpur, Delhi- 110092 Tel : 42487261 Mob.: 9810092750, 9810922575 E mail : dkjain440@gmail.com dkjainaudit@gmail.com Independent Auditor's Review Report on Unaudited Standalone Financial Results for the Quarter ended 30th June 2026 of the Company pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) TO, THE BOARD OF DIRECTORS OF MMTC LIMITED I. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of MMTC LIMITED ("the Company"), for the quarter ended 30°' June, 2026 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("md AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of interim Financial information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (lCAl). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures, applied to financial data, and thus provides less assurance than an audit. We have not perfonned an audit and accordingly, we do not express an audit opinion. 4. Basis for Qualified Conclusion We draw attention to Note no. 1 of the accompanying Statement, which states that, in respect of the Anglo Coal case, an amount of Rs. 1088.62 crore (comprising Rs. 1087.76 crore deposited with the court and Rs.0.86 crore attached from the company's bank account) had been deposited with the Hon'ble Delhi High Court. The final determination of the amount is subject to the judgementlclarification of the Hon'ble Court. The Hon'ble Delhi High Court, vide its order dated 09.05.2025, directed that "the decree holder [Anglo] shall be entitled to withdraw the said amount along with tip-to-date accrued interest after the expiry of two weeks from today". The SLP filed by the company before the Hon'ble Supreme Court was dismissed by order dated 03.11.2025.
Page 3
Thereafter, the Company filed an application before the Hon'ble Delhi High Court on 03.11.2025 admitting a total liability of Rs.1169.14 crore, including interest calculated up-to 01.11.2025. Subsequently, pursuant to the order of the Hon'ble Delhi High Court dated 10.11.2025, an amount of Rs. 1000 crore was released to Anglo on 17.11.2025. Based on the management's calculations, the estimated remaining liability of the company towards Anglo coal as on 17.11.2025 amounts to Rs. 170.58 crore, including interest calculated up to 17.11.2025. Accordingly, the estimated present obligation of the company in respect of the aforesaid matter amounts to Rs. 170.58 crore, against which the company has recognised a provision of Rs. 87.76 crore only. This has resulted in non-recognition of provision to the extent of Rs. 82.82 crore. The company, instead of making a provision of Rs.82.82 crore, has included this amount in its contingent liabilities due to which provision has been understated and contingent liabilities have been overstated by Rs.82.82 crores. The non-recognition of provision to the extent of Rs.82.82 crore constitutes a departure from the accounting standards as prescribed under section 133 of the Act. Had the amount of Rs.82.82 crore been provided by the company, the provisions would have been increased by Rs.82.82 crore and the shareholders' funds would have been reduced by the said amount. Our Audit report on the financial results of the Company for the quarter and year ended 3I' March 2026 dated 29" May 2026 was also qualified in respect of this matter. 5. Qualified Conclusion Based on our review conducted as stated in paragraph 3 above, except for the effects of the matter described in the preceding paragraph, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Page 4
6. Emphasis of Matter: We draw attention to the following matters in the notes to the statement: Note No. 2 which states that on 06.11.2023 an amount of Rs. 40 crores were extended as interest bearing advance/loan by company to CPF Trust for payment to VRS employees. Repayment of Rs. 35.50 crore has already been made by CPF trust up to 3 1.03.2026. Further, an amount of Rs. 3.56 crore is adjusted against capital loss to trust on bad investments on 28.04.2026. Balance amount will be repaid by trust to MMTC on receipt of funds by trust from its investment. An amount of Rs. 0.04 crore have been accounted for as interest from CPF Trust for Pt quarter of F.Y. 2026-27. Our conclusion is not modified in respect of this matter. Place: New Delhi Date: 11-08-2026 For DINESH JAIN & ASSOCIATES CHARTERED ACCOUNTANTS FRN: 004885N9 (NEHAJ N)FCA Partner M.No.514725 UDIN: 265I4725YINXXV4778
Page 5
MMTC LIMITED CIN: L51909DL1963G01004033 (A Govt of India Enterprise) Core - 1, Scope Complex 7, InstitutIonal Area, Lodhi Road New Delhi - 110 003. PART I Email : mmtc@mmtclimited.com Website : www.mmtclimlted.com Statement of Standalone Unaudited Financial Results for the Quarter ended 30/06/2026 ________________________________________________________________________ (? in crores, except per share data) Particulars Quarter Ended Year Ended ___________ 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 - ____________________________________________________ (Unaudited) (Audited) (Unaudited) (Audited) I Income Reenue From Operations 0.68 0.61 1.36 3.41 Other income 145.44 35.42 70.20 177.17 Total income 146.12 36.03 71.56 180.58 2 Expenses Cost of material consumed - 0.01 - 0.01 Purchase of Stock in Trade - - - - Changes in inentories of finished goods, stock in trade and work in progress - (0.01) 036 035 Empioyees' Benefit Expenses 14.70 27 29 17 35 78 18 Finance Cost 0 05 0 23 0 22 0 78 Depreciation & Amortization Expenses 0.70 2 21 1 01 5 14 Other Expenses (i) Operating expenses 0.25 0 24 0 29 I 11 (ii) Administrati expenses 5.92 7 52 6 46 26 36 (iii) Others - 79 05 - 79 05 21,62 11654 2569 19098 Total expenses 124.50 (8051) 4587 (10 40) 3 Proflt/(loss) before exceptional Items and tax (1-2) 4 Exceptional Items (0 05) (96 06) (0 01) (473 70) 5ProfitBeforeTax(3-4) 12455 1555 4588 46330 6 Tax expense Current tax 30.76 (14.16) 9.21 89.43 Adjustments relating to prior periods 0.06 (0.39) - (0.39) Deferred tax - (1.60) - 162.19 Total Tax Expenses 30.82 (16.15) 9.21 251.23 93,73 31 70 36.67 212.07 7 Profit/(loss) for the Period (54) 8 Other Comprehensive income items that will not be reclassified to profit or loss: -Remeasurements of the defined benefit plans 005 380 (084) 1 24 Equity instruments through other comprehensie income 41 45 1 80 33 06 30 05 -Income Tax relating to these items (0 28) (0 28) ____________ 41 50 531 _____________ 3224 31 01 Other Comprehensie income (Net of Tax) 9 Total Comprehensi'.e Income for the period (7+8) 135 23 37 01 68 91 243 08 Earnings per equity share (1) Basic 0.62 0.21 024 1 41 (2) Diluted 062 021 024 141 Paid up Equity Share Capital, (Face Value ' 1/-) 15000 Other Equity 1,549 13 PART II information for the Quarter ended 30/06/2026 Particulars ___________ ___________ ___________ ___________ Quarter Ended ___________ Year Ended ___________ 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 - (Unaudited) (Audited) (Unaudited) (Audited) A PARTICULARS OF SHAREHOLDING Public shareholding -Number ofshares 151096857 151096857 151096857 151096857 -Percentage of sharehoiding 1007 10.07 1007 1007 2 Promoters and Promoter Group Sharehoiding a) Pledged / Encumbered -Number of shares -Percentage of shares (as a % of the total sharehoiding of promoter and promoter group) -Percentage of shares (as a % of the total share capital of the company) b) Non - encumbered -Number of shares 1348903143 1348903143 1348903143 1348903143 - -Percentage of shares (as a % of the total sharehoiding of the Promoter and Promoter group) & -Percentage of shares (as a % of the total //4'te share capital of the company) /fZ'/'f7 %$4' 100 00 "-$c' \t\y9 93 100 00 8993 100 00 8993 100 00 8993 9
Page 6
3 months ended Particulars 30-Jun-2026 - B INVESTOR COMPLAINTS Pending at the beginning of the quarter 0 Receked during the quarter 0 Disposed of dunng the quarter 0 - Remaining unresolved at the end of the quarter 0 PART Ill Segment wise Revenue, Results and Assets& Liabilities ( inCrores) Pa iii Cu Ia is __________ Quarter Ended Year Ended __________ 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 (Unaudited) (Audited) (Unaudited) (Audited) _________________________________________________________ Segment Revenue a) Precious Metals - 073 0.73 b) Metals - - - c) Minerals - - - d) Coal & Hydrocarbon - - - e) Agro Products - - - I) Fertilizers - - 0 05 0 05 g)Others 068 061 058 263 TOTAL 068 061 136 341 Less Inter Segment revenue NIL NIL NIL NIL Netreenue 068 061 136 341 Segment Results Gross Prol9t/(Loss) from operations from each segment a) Precious Metals - - 0.37 0.37 b)Metals - - - - c) Minerals - - - - d) Coal & Hydrocarbon - - - - e) Agro Products - - - - Fertilizers - - 0 05 0 05 g)Others 043 0.36 029 151 TOTAL 043 036 071 193 Less i) Interest(Net) (33.10) (31.41) (35 41) (133 37) H) Other un-allocable expenditure net off unallocable income (91 02) 16.23 (9 76) (328 00) Profit from ordinary activities before tax 12455 15.55 4588 46330 Particulars Quarter Ended Year Ended __________ 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 (Una udited) (Audited) (Una udited) (Audited) _____________________________________________________________ Segment Assets a) Precious Metals 19.34 1934 19.34 19.34 b) Metals 970 2435 11.46 24.35 c)Minerals 1759 1791 2198 1791 d) Coal & Hydrocarbon 19307 19229 1 15446 19229 e) Agro Products 51 32 36 68 236 39 36 68 0 Fertilizer 1752 1731 1697 1731 g) Others 2642 26.81 28.56 26.81 h) Unallocated Assets 219783 2,03959 1 819.11 2,039.59 TOTAL ASSETS 2 532 79 2 374 28 3 308.27 2,374,28 Segment Liabilities a) Precious Metals 18 19 1440 21 00 1440 b)Metals 606 1161 611 1161 c) Minerals 22 95 22 06 22 08 22 06 d) Coal & Hydrocarbon 373 75 372 88 1 342 86 372 88 e) Agro Products 30 89 30 84 231 06 30 84 f) Fertilizer -, 22 88 24.90 24 84 24 90 g) Others .f*DiN% h) Unallocated Liabilities ta,"'% 448 21923 6.85 191 61 524 130 12 685 191 61 TOTAL LIABILITIES f/df (1st4% 69843 675 15 1 78331 675 15 33i
Page 7
Note: 1) In terms of the court order dated 06.05.2022 & 07.07.2022 passed by the Hon'ble Delhi High Court in the matter of Anglo Coal case, an amount of 1088.62 crore ( 1087.76 crore towards deposited in court and ! 0.86 crore attached from MMTC, Bhubaneswar Bank account) had been deposited with Hon'ble Delhi High Court and the final amount is subject to judgement/clarification of Hon'ble Court. Provision of 1088.62 crore has already been made in the books of accounts. Further, vide order dated 09.05.2025, Hon'ble Delhi High Court directed that Decree holder shall be entitled to withdraw the said amount along with up-to-date accrued interest after expiry of 2 weeks i.e. 23.05.2025. MMTC had filed SLP in Hon'ble Supreme Court, which has been dismissed by order dated 03.11.2025. A Suit was also filed in Hon'ble Delhi High Court which has been dismissed vide order dated 29.07.2025. CBI has registered a case (RC) on 21.07.2025 based on the complaint filed by MMTC regarding irregularities observed in the said transaction. Further, MMTC has filed an application in Hon'ble Delhi High Court relating to calculation of final amount payable to Anglo and clarification on Withholding Tax against which Hon'ble Delhi High Court on 10.11.2025 had ordered to release 1000.00 crore to Anglo Coal. Decision on balance amount due to difference in calculations submitted by both the parties due to Forex rate and on Withholding Tax will be heard on next date of hearing 22.09.2026. Accordingly, the amount has been released to Anglo Coal on the directions of Court ( 1000.00 crore and 0.86 crore) and same has been reduced from provision as well as deposit with court. 2) On 06.11.2023 an amount of 40 crores were extended as interest bearing advance/loan by company to CPF Trust for payment to VRS employees. Repayment of 35.50 crore has already been made by CPF trust up to 31.03.2026. Further, an amount of 3.56 crore is adjusted against capital loss to trust on Bad investments on 28.04.2026. Balance amount will be repaid by trust to MMTC on receipt of funds by trust from its investment. An amount of 0.04 crore have been accounted for as interest from CPF Trust for 1st quarter of F.Y. 2026-27. 3) As per the decision of Administrative Mechanism for Resolution of CPSEs Disputes (AMRCD) held on 12.05.2026, MMTC has paid 5.43 crore to Chennai Port Authority (ChPA) on 17.07.2026 as shortfall charges on land allotted on license basis for shipment of Iron Ore during 2010. 4) In respect to Audit Qualifications for the period ended 31.3.2026 Management reply point wise is as under: The Company has provided complete details, supporting documents and management explanations to the Auditors during the course of Audit proceedings. Pursuant to the orders dated 06.05.2022 and 07.07.2022 passed by the Hon'ble Delhi High Court in the Anglo Coal matter, MMTC Limited had deposited an aggregate amount of 1088.62 crore, comprising: " 1087.76 crore through Demand Draft dated 20.07.2022 deposited with the Registrar General of the Hon'ble Delhi High Court; and " ? 0.86 crore attached from MMTC's Bhubaneswar bank account. The aforesaid amount of Rs.1088.62 crore had already been fully recognized and provided for in the books of account of the Company. Subsequently, pursuant to the orders of the Hon'ble Delhi High Court, an amount of 1000 crore was released to Anglo on 17.11.2025 from the deposited amount. To file an application in Delhi High Court, Ld. Advocate advised MMTC to provide estimated calculation sheet considering interest calculation up to 01.11.2025. The calculations/workings for 1170.00 crore were submitted: " pursuant to judicial directions, " during the course of proceedings, " on a provisional and without prejudice basis, " And, subject to further arguments and adjudication, particularly regarding: (i)The applicable USD exchange rate. (U)The methodology for determination of the final payable amount. Accordingly, the Management submits that the said calculations/workings cannot be construed as final crystallization or unconditional acceptance/admission of liability by the Company. Further, against the original deposit of 1088.62 crore made by MMTC in July 2022, substantial interest accrual amounting to approximately 259.74 crore had accrued up to 01.11.2025 while the amount remained under a)
Page 8
I 0 custody of the Hon'ble Court. The same is disclosed in Notes to Accounts. The rate of interest payable as decided by court is lesser than the Bank interest rate accruing on the amount deposited with Court. Such accrued interest was available for adjustment against any additional amount, if any, that may ultimately become payable pursuant to the final judicial determination. Accordingly, considering the substantial accrued interest available against the deposited amount, the Management assessed that no separate or incremental outflow of resources from the Company is expected in respect of the alleged differential liability of? 82.82 crore as referred to in the Audit Qualification. In accordance with md AS 37 - "Provisions, Contingent Liabilities and Contingent Assets", a provision is required to be recognized only when all the following conditions are satisfied: (a) An entity has a present obligation (legal or constructive) that is a result of a past event; (b) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and (c) a reliable estimate can be made of the amount of the obligation. In reference to the above accounting standard, the condition mentioned at (b) does not satisfy as the chances of probable outflow for? 82.82 crore is NIL, considering the accrued interest available with Court. Company had appropriately recognized the original liability of? 1088.62 crore, the incremental amount beyond the said deposit remained subject to: " Adjudication by the Hon'ble Court, " Judicial clarification on applicable exchange rate and related methodology, and " Adjustment against accrued interest lying with the Hon'ble Court. Considering the above facts and circumstances, the Management respectfully disagrees with the qualification made by Statutory Auditors as the provision of? 82.82 crore was not warranted on the reporting date and is appropriately disclosed as contingent Liability. (Status as on 30.06.2026 refer note no.1) 5) Previous quarters/year's figures have been re-grouped Ire-arranged accordingly to make them comparable, wherever necessary. Regrouping/rearrangement of data is for specific purpose of presentation in financial statements only and do not affect legal status of MMTC. MMTC reserves all its rights under the applicable laws. 6) The statutory auditors of the Company have carried out the limited review of these financial results as required under Regulation 33 & 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 7) The comparative figures for the quarter ended 31.3.2026 are the balancing figures between audited figures in respect of financial year ended 31.3.2026 and the published year to date reviewed figures upto 31.12.2025. 8) The above financial results have been reviewed & approved by the Board of Directors at their meeting held on 11.08.2026. Place: New Delhi Date: 11.08.2026 BY ORDER OF THE BOARD OF DIRECTORS (Kundishra) Director (F) DIN: 11865137
Page 9
1 1 DINESH JAIN & ASSOCIATES [_____ CHARTERED ACCOUNTANTS A- us, Vikas Marg, 2nd Floor Shakarpur, Delhi- 110092 Tel: 42487261 Mob.: 9810092750, 9810922575 E-mail : dkjain440@gmail.com dkjainaudit@gmail.com Independent Auditor's Review Report on Unaudited Consolidated Financial Results for the Quarter ended 30th June 2026 of the Company pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) TO, THE BOARD OF DIRECTORS OF MMTC LIMITED 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of MMTC Limited ("the Holding company") and its subsidiary subject to Paragraph no. 7 of our report on Other Matters (the Holding and the subsidiary together referred to as "the Group") and its share of the net profit after tax and total comprehensive income of its joint venture, for the quarter ended 30" June, 2026 ("the Statement"), being submitted by the Holding company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including relevant circulars issued by the SEBI from time to time. 2. This Statement, which is the responsibility of the Holding company's Management and approved by the Holding company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("md AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India and also considering the requirement of Standard on Auditing SA (600) on "Using the work of another auditor" including materiality. This standard required that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201 5, as amended from time to time, to the extent applicable. 4. Basis for Qualified Conclusion We draw attention to Note no. 3 of the accompanying Statement, which states that, in respect of the Anglo Coal case, an amount of Rs. 1088.62 crore (comprising Rs.1087.76 crore deposited with the court and Rs.0.86 crore attached from the company's bank account) had been deposited with the Hon'ble Delhi High Court. The final determination of the amount is subject to the judgement/clarification of the Hon'ble Court. The Hon'ble Delhi High Court, vide its order dated 09.05.2025, directed that "the decree holder [Anglo] shall be entitled to withdraw the said amount along with u - -date accrued interest after the expi;y of two weeks from today". The SLP filed by the company before th eme Court was dismissed by order dated 03.11.2025.
Page 10
Thereafter, the Company filed an application before the Hon'ble Delhi High Court on 03.11.2025 admitting a total liability of Rs. 1169.14 crore, including interest calculated up-to 01.11.2025. Subsequently, pursuant to the order of the Hon'ble Delhi High Court dated 10.11.2025, an amount of Rs. 1000 crore was released to Anglo on 17.11.2025. Based on the management's calculations, the estimated remaining liability of the company towards Anglo coal as on 17.11.2025 amounts to Rs.I70.58 crore, including interest calculated up to 17.11.2025. Accordingly, the estimated present obligation of the company in respect of the aforesaid matter amounts to Rs. 170.58 crore, against which the company has recognised a provision of Rs. 87.76 crore only. This has resulted in non-recognition of provision to the extent of Rs. 82.82 crore. The company, instead of making a provision of Rs.82.82 crore, has included this amount in its contingent liabilities due to which provision has been understated and contingent liabilities have been overstated by Rs.82.82 crores. The non-recognition of provision to the extent of Rs.82.82 crore constitutes a departure from the accounting standards as prescribed under section 133 of the Act. Had the amount of Rs.82.82 crore been provided by the company, the provisions would have been increased by Rs.82.82 crore and the shareholders' funds would have been reduced by the said amount. Our Audit report on the financial results of the Company for the quarter and year ended 31 March 2026 dated 29th May 2026 was also qualified in respect of this matter. 5. Qualified Conclusion Based on our review conducted and procedures performed as stated in paragraph 3 above, except for the effects of the matter described in the preceding paragraph, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. Emphasis of Matter: We draw attention to the following mailers in the Notes to the Statement: Note No.1, in respect of joint ventures whose financial results for the quarter ended 30 June, 2026 have not been received and consolidated. Note No. 2, which states that Consolidated financial results and segment wise information does not include the financials of MTPL, Singapore as MMTC does not have any input regarding its financials for these periods. Pursuant to the order of the Hon'ble High Court of Singapore vide liquidation hearing held on 27.10.2023, M s Deloitte and Touche LLP Singapore have been appointed as the Joint & Several Liquidators of the Company (MMTC Transnational Pte Ltd). The Hon'ble High Court of Republic of Singapore passed winding up order against the MTPL. As such, MTPL's control has been taken over by the Liquidator and MMTC does not have any inputs regarding its financials for the quarter ended 30.06.2026. MMTC filed Complaint on 04.10.2023 with CBI on financial irregularities and fraud at MTPL, Singapore. CBI on 03.04.2024 registered a Preliminary Enquiry and on 15.10.2024 registered regular case in the matter. MMTC has an investment of book value of Rs presently MTPL, Singapore is under liquidation. made in the books of accounts. 3.14 crores in MTPL, Singapore as on 30.06.2026 and The on for above investment has already been
Page 11
iii. Note No. 4, which states that on 06.11.2023 an amount of Rs. 40 crores were extended as interest bearing advance/loan by company to CPF Trust for payment to VRS employees. Repayment of Rs. 35.50 crore has already been made by CPF trust up to 3 1.03.2026. Further, an amount of Rs. 3.56 crore is adjusted against capital loss to trust on bad investments on 28.04.2026. Balance amount will be repaid by trust to MMTC on receipt of funds by trust from its investment. An amount of Rs. 0.04 crore have been accounted for as interest from CPF Trust for 1' quarter of F.Y. 2026-27. Our conclusion is not modified in respect of these matters. 7. Other Matter: We did not receive the interim financial results/information of the wholly-owned subsidiary company (MTPL) for the Quarter ended 30.06.2026 due to the reason that MTPL's control has been taken over by the Liquidator and MMTC does not have any inputs regarding its financials for the quarter ended 30.06.2026. Consequently, the financial results for the quarter ended 30.06.2026 does not include the financials of MTPL. 8. The statement includes the entities as mentioned in Annexure I. FOR DINESH JAIN AND ASSOCIATES CHARTERED ACCOUNTANTS FRN 004885N (NEHA JAIN) FCA Partner Place: New Delhi Membership No.514725 Date: 11-08-2026 UDIN: 26514725EED5US2634
Page 12
ANNEXURE - I
Page 13
MMTC LIMITED (GIN : L51909DL1963G010040331 (A Govt of India Enterprise) Regd. Office : Core - 1, Scope Complex 7, Institutional Area, Lodhi Road, New Delhi - 110 003 Website : www.mmtclimited.com Email ID : mmtc@mmtclimited.com Statement of Consolidated Unaudited Financial Resultsfor the Quarter ended 30th June, 2026 (! in crores, except pershare data) - _________________________________________________________ Particulars Quarter Ended Year Ended ____________ 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 (Unaudited) (Audited) (liriaudited) (Audited) - I _________________________________________________________ Income Reenue From Operations 0.68 0.61 1.36 3.41 Other Income 14544 35.42 70.20 177 17 Total Income 146 12 36.03 71 56 180 58 2 Expenses Cost of Material Consumed - 0,01 - 0.01 Purchase of Stock in Trade - - - - Changes in inentones of finished goods stock n trade and work in prcgres - (001) 036 0.35 Employees Benefit Expenses 14.70 2729 1735 78,18 Finance Cost 0.05 0 23 0 22 0.78 Depreciation & Amortizat on Expenses 0.70 221 1 01 5.14 Other Expenses (i) Operating expenses 0.25 024 029 111 ii) Administrative expenses 5.92 7.52 6.46 26.36 n) Others - 79.05 - 79.05 2162 116.54 25.69 190.98 Total Expenses 3 Profit before Share of Profltl(Loss) of Joint Ventures, exceptional items and tax 124.50 (80.52) 45.87 (10.41) 4 Share of Profit (Loss) of Joint Ventures (net of tax) 1051 94,34 7.59 175.31 5 Profit before exceptional items and tax 13501 13.82 53.46 164.90 (0.05) (96 06) (001) (473.70) 6 Except ona Items 7 Profit Before Tax 135.06 109.89 53.47 638.61 & Tax expense Current tax 30.76 (14.16) 9.21 89.43 Adjustments relating to prior periods 0.06 (0.39) - (0 39) Derred tax - (1.60) - 162 19 Total Tax Expenses 3082 (16.15) 9.21 25123 10424 126.04 4426 38738 9 NetProfitforthe Period 10 Other Comprehensive Income i) Items that will not be reclassified to profit or loss: -Remeasurements of the defined benefit plans 0.05 3.80 (0.84) 1 24 -Equity Instruments through other comprehensie income 41.45 1.80 33.08 30 05 -Income Tax relating to these items (0.11) - 0 14 -Share of Other Comprehenshe Income in Joint Ventures (net of tax) 0.01 (0.26) 0.29 (0 28) ii) Items that will be reclassified to profit or loss: -Exchange diflbrences in translating financial statements of foreign operations - - - 4151 5.21 32.53 3115 Other Comprehensive Income (Net of Tax) 145.75 13125 76.79 41853 II Total Comprehensive Income forthe period Eamings per Equity Share () (Face Value 1/-): (a) Basic 069 084 030 258 (b)Diluted 069 084 030 258 Paid up Equity Share Cap ta Face Value 1/-) 15000 Other Equity 1 970 72 L ____________
Page 14
Consolidated Unaudited Segment information for the quarter ended 30th June, 2026 (?in crores) Particulars - - Quarter Ended Year Ended ____________ 30Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 (Unaudited) (Audited) (Unaudited) (Audited) _____________________________________________________________ Segment Revenue _______________ a) Precious Metals - b) Metals c) Minerals d) Coal & Hydrocarbon e) Agro Products . Fertilizers -. g) Others ________ _____ - - 0.00 - - - 0.73 - - - 0.73 - - - - 0.05 - - - - - 0.00 - 0.05 0.68 0.61 0.58 2.63 Total 0.68 0.61 1.36 3.41 Less: Inter Segment reenue NIL NIL NIL NIL Net revenue 0.68 061 1.36 3.41 Segment Results !rofiv(Loss) before tax and intereM from each ssgment a) Precious Metals ,--. I,) Metals c)Minerals . - ________________ d) Hydrocarbon e) Agro Products f) Fertilizers g) Others - - - . - 0.00 - 0.00 0.37 - - 0.37 - - - - - - -- - (0.00) - - 0.43 0.00 . 0.36 0.05 0.29 005 1.51 Total 0.43 0.36 0.71 1.93 Less: i) lnterest(Net) (33.10) (31.41) (35.41) (133.37) _________________ ii) Other un-allocable expenditure net of unallocable Add Share of Profit/ (Loss) of Joint Ventures (net of tax) (91.02) 10.51 16.22 94.34 - (936) 7.59 (328.00) 175.31 Profit from ordinary activities before tax 135.06 109.89 53.47 63861 - -P articulars --__________________ - - --------- --------------------- Quarter Ended Year Ended _________ 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 (Unaudited) (Audited) (Unaudited) (Audited) _____________________________________________________________ Segment Assets a) Precious Metals b) Metals _____ c) Minerals _________________________ d) Coal & Hydrocarbon e) Agro Products fl Fertilizer - g) Others h) Unallocated Assets 19.34 _____ ______ 19.34 1934 _______i9.34 970 17 59 24.35 11.46 21.98 24.35 17.91 17.91 193.07 5132 1752 26.42 262994 192.29 36.68 17.31 26.81 1154.46 236.39 16.97 28.56 2,073.13 192.29 36.68 17.31 26.81 2461.19 246119 Total Assets 2,964.90 2,795.88 3,562.29 2,795.88 Segment Liabilities a) Precious Metals b) Metals _____________ _______ c)MinerSs d) Coal & Hydrocarbon _________ I ______ e)AgroProducts -. _____- FertiIizer - - .__ I - -, - b 0na1iâèathd Gabilities - ______ 18.19 6.06 14.40 11.61 2100 6.11 14.40 1161 ______ - ....2 Z95 37375 - 3089 22.88 22M6 37288 22.08 1 34286 - 2206 372.88 -3084 24.90 231_, 2484 30M 2490 4.48 219.23 - 6.85 - 191 61 - 5.24 ______ 685 13012 19161 Total Liabilities ( ttw.J 69843 67516 178331 67516
Page 15
1) The fnancia results does not include the results of following Joint Venture Company - Name of Joint Venture Company Reason for not consolidating a) MMTC Gitanjal Limited The company has frilly mpa red its equity instment of ! 2.99 crore in its joint enture- MIs MMTC GitanjaF Lmited dudng the year 2017-18. The company has also gien notice for exiting from the JV Company The nancial results hae not been receied from the JV Company hence the same has not been cons dered n preparation of consolidated nancial results. b) Sical Iron Ore Terminal Ltd. 100% pro4sion made. c) Free Trade Warehousing Pt Ltd. (50 % Share in equity 100% pro4sion made. Financial Statements not receied s nce 31032022 2) Consolidated financial results and segment wise information does not include the financials of MTPL, Singapore as MMTC does not have any input regarding its financials for these periods. Pursuant to the order of the Honble High Court of Singapore vide liquidation hearing held on 27.10.2023, MIs. Deloitte and Touche LLP Singapore have been appointed as the Joint & Several Liquidators of the Company (MMTC Transnational Pte. Ltd.). The Hon'ble High Court of Republic of Singapore passed winding up order against the MTPL. As such, MTPL's control has been taken over by the Liquidator and MMTC does not have any inputs regarding its financials for the quarter ended 30.06.2026. MMTC filed complaint on 04.10.2023 with C on financial irregularities and fraud at MTPL, Singapore. CM on 03.04.2024 registered a Preliminary Enquiry and on 15.10.2024 registered a regular case in the matter. MMTC has an investment of book value of! 3.14 Crores in MTPL, Singapore as on 30.06.2026 and presently MTPL, Singapore is under liquidation. The provision for above investment has already been made in the books of accounts. 3) In terms of the court order dated 06.05.2022 & 07.07.2022 passed by the Hon'ble Delhi High Court in the matter of Anglo Coal case, an amount of! 1088.62 crore (! 1087.76 crore towards deposited in court and ! 0.86 crore attached from MMTC, Bhubaneswar Bank account) had been deposited with Hon'ble Delhi High Court and the final amount is subject to judgement/clarification of Hon'ble Court. Provision of! 1088.62 crore has already been made in the books of accounts. Further, vide order dated 09.05.2025, I-lon'ble Delhi High Court directed that Decree holder shall be entitled to withdraw the said amount along with up-to-date accrued interest after expiry of 2 weeks i.e. 23.05.2025. MMTC had filed SLP in Hon'ble Supreme Court, which has been dismissed by order dated 03.11.2025. A Suit was also flied in Hon'ble Delhi High Court which has been dismissed vide order dated 29.07.2025. C has registered a case (RC) on 21.07.2025 based on the complaint filed by MMTC regarding irregularities observed in the said transaction. Further, MMTC has filed an application in Hon'ble Delhi High Court relating to calculation of final amount payable to Anglo and clarification on Withholding Tax against which Hon'ble Delhi High Court on 10.11.2025 had ordered to release! 1000.00 crore to Anglo Coal. Decision on balance amount due to difference in calculations submitted by both the parties due to Forex rate and on Withholding Tax will be heard on next date of hearing 22.09.2026. Accordingly, the amount has been released to Anglo Coal on the directions of Court (! 1000.00 crore and ! 0.86 crore) and same has been reduced from provision as well as deposit with 4) 5) court. On 06.11.2023 an amount of! 40 crores were extended as interest bearing advance/loan by company to CPF Trust for payment to VRS employees. Repayment of! 35.50 crore has already been made by CPF trust up to 31.03.2026. Further, an amount of ! 3.56 crore is adjusted against capital loss to trust on Bad investments on 28.04.2026. Balance amount will be repaid by trust to MMTC on receipt of funds by trust from its investment. An amount of! 0.04 crore have been accounted for as interest from CPF Trust for 1st quarter of F.V. 2026-27. As per the decision of Administrative Mechanism for Resolution of CPSEs Disputes (AMRCD) held on 12.05.2026, MMTC has paid ! 5.43 crore to Chennai Port Authority (ChPA) on 17.07.2026 as shortfall charges on land allotted on license basis for shipment of Iron Ore during 2010. / - .-.---.. -'
Page 16
6) In respect to Audit Qualifications for the period ended 31.3.2026 Management reply point wise is as under: The Company has provided complete details, supporting documents and management explanations to the Auditors during the course of Audit proceedings. Pursuant to the orders dated 06.05.2022 and 07.07.2022 passed by the Hon'ble Delhi High Court in the Anglo Coal matter, MMTC Limited had deposited an aggregate amount of 1088.62 crore, comprising: " 1087.76 crore through Demand Draft dated 20.07.2022 deposited with the Registrar General of the Hon'ble Delhi High Court; and " 0.86 crore attached from MMTC's Bhubaneswar bank account. The aforesaid amount of Rs.1088.62 crore had already been fully recognized and provided for in the books of account of the Company. Subsequently, pursuant to the orders of the Hon'ble Delhi High Court, an amount of 1000 crore was released to Anglo on 17.11.2025 from the deposited amount. To file an application in Delhi High Court, Ld. Advocate advised MMTC to provide estimated calculation sheet considering interest calculation up to 01.11.2025. The calculations/workings for 1170.00 crore were submitted: " pursuant to judicial directions, " during the course of proceedings, " on a provisional and without prejudice basis, " And, subject to further arguments and adjudication, particularly regarding: (i)The applicable LJSD exchange rate. (U)The methodology for determination of the final payable amount. Accordingly, the Management submits that the said calculations/workings cannot be construed as final crystallization or unconditional acceptance/admission of liability by the Company. Further, against the original deposit of 1088.62 crore made by MMTC in July 2022, substantial interest accrual amounting to approximately 259.74 crore had accrued up to 01.11.2025 while the amount remained under custody of the Hon'ble Court. The same is disclosed in Notes to Accounts. The rate of interest payable as decided by court is lesser than the Bank interest rate accruing on the amount deposited with Court. Such accrued interest was available for adjustment against any additional amount, if any, that may ultimately become payable pursuant to the final judicial determination. Accordingly, considering the substantial accrued interest available against the deposited amount, the Management assessed that no separate or incremental outflow of resources from the Company is expected in respect of the alleged differential liability of 82.82 crore as referred to in the Audit Qualification. In accordance with md AS 37 - "Provisions, Contingent Liabilities and Contingent Assets", a provision is required to be recognized only when all the following conditions are satisfied: (a) An entity has a present obligation (legal or constructive) that is a result of a past event; (b) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and (c) a reliable estimate can be made of the amount of the obligation. In reference to the above accounting standard, the condition mentioned at (b) does not satisfy as the chances of probable outflow for 82.82 crore is NIL, considering the accrued interest available with Court. Company had appropriately recognized the original liability of? 1088.62 crore, the incremental amount beyond the said deposit remained subject to: " Adjudication by the Hon'ble Court, " Judicial clarification on applicable exchange rate and related methodology, and " Adjustment against accrued interest lying with the Hon'ble Court.
Page 17
Considering the above facts and circumstances, the Management respectfully disagrees with the qualification made by Statutory Auditors as the provision of 82.82 crore was not warranted on the reporting date and is appropriately disclosed as contingent Liability. (Status as on 30.06.2026 refer note no. 3). 7) Previous quarters/year's figures have been re-grouped Ire-arranged accordingly to make them comparable, wherever necessary. Regrouping/rearrangement of data is for specific purpose of presentation in financial statements only and do not affect legal status of MMTC. MMTC reserves all its rights under the applicable laws. 8) The statutory auditors of the Company have carried out the limited review of these financial results as required under Regulation 33 & 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 9) The comparative figures for the quarter ended 31.3.2026 are the balancing figures between audited figures in respect of financial year ended 31.3.2026 and the published year to date reviewed figures upto 31. 12. 2025. 10) The above financial results have been reviewed & approved by the Board of Directors at their meeting held on 11.08.2026. BY ORDER OF THE BOARD OF DIRECTORS Place: New Delhi Date: 11.08.2026 Director (F) DIN: 11865137