How has been the historical performance of the Mipco Seaml Ring?

Answer:The historical performance of Mipco Seaml Ring shows a consistent lack of revenue generation and persistent losses over the years. Breakdown: From March 2018 to March 2024, Mipco Seaml Ring reported net sales and total operating income of Rs 0.00, indicating no revenue generation throughout this period. The company incurred total expenditures, excluding depreciation, which increased from Rs 0.11 crore in March 2018 to Rs 0.31 crore in March 2024, primarily due to rising other expenses. Operating profit (PBDIT) remained negative, worsening from -0.11 crore in March 2018 to -0.31 crore in March 2024. Consequently, profit before tax and profit after tax also reflected losses, with net profit declining from -0.11 crore in March 2018 to -0.31 crore in March 2024. The company's equity capital increased to Rs 5.58 crore by March 2024, but reserves turned negative, reaching -6.76 crore, indicating a deteriorating financial position. The book value per share adjusted also fell from -7.20 in March 2019 to -8.87 in March 2024. Overall, Mipco Seaml Ring has shown no signs of operational viability or profitability over the years.