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Bhansali Engineering Polymers Ltd. Audit Report / Information 2025
62572_rns_2025-04-26_8473c8b2-91e3-48b8-89f3-327e82b8063f.pdf
Audit Report / Information
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~® bHANSAli ENqiNEERiNq polyMERS liMiTEd
GIN: L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website: www.bhansaliabs.com
BEPL/SEC/2025/77 26th April, 2025
| To | To |
|---|---|
| The BSE Limited | The National Stock Exchange of India Ltd. |
| Corporate Relationship Department | Exchange Plaza, C-1, Block G, |
| Phiroze Jeejeebhoy Towers, | Bandra-Kurla Complex, |
| Dalal Street, | Bandra (E), |
| Mumbai -400 001 | Mumbai -400 051. |
| Security Code: 500052 | Security Code: BEPL |
Sub: Outcome of Board Meeting - 26th April, 2025.
Dear Sir/ Madam,
Pursuant to Regulation 30, 33 and 42 read with Schedule III and oth er applicable Regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please be informed that th e Board of Directors of the Company at its m eetin g h eld today interalia, approved & recommended the following:
-
- Approved th e Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended 3 1st March, 2025 and took note of the Audit Report issued by the Statutory Auditors of the Company;
-
- Recommended a Final Dividend of Re. 1 (100%) per Equity Share (of face value of Re. 1 each) for th e financial year ended 31 st March, 2025, subject to approval of the shareholders of the Company in the ensuing 4lst Annual General Meeting.
The Board Meeting commen ced at 11 :00 am and concluded at _ : _ pm 01 26
We h e reby enclose the following:
-
- Audit Report on Financial Results (Standalone an d Consolidated) for th e quarter and financial year ended 3 1st March, 2025, issued by the Statutory Auditors of the Company.
-
- Copy of Audited Financial Results (Standalone a nd Consolidated) for the quarter and financial year ended 31st March, 2025.
- 3 . Declaration from th e Joint Managing Director cum CFO with respect to unmodified opinion on Financial Results, as received from the Statutory Auditors of the Company.
You a r e requested to take the same on record . Tha nking you, For Bhansali Engineering Polymers Limited
ASHWIN MANILAL PATEL Digitally signed by ASHWIN MANILAL PATEL Date: 2025.04.26 13:32:24 +05'30'
Ashwin M. Patel Company Secretary & GM Legal
INDEPENDENT AUDITOR'S REPORT
$To$
The Board of Directors of Bhansali Engineering Polymers Limited
Report on the Audit of the Standalone Annual Financial Results
Opinion
We have audited the accompanying Statement of standalone financial results of BHANSALI ENGINEERING POLYMERS LIMITED ('the Company') for the quarter and year ended $31o$ March, 2025 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations. 2015. as amended ('the Regulations').
AZAD JAIN & CO. CHARTERED ACCOUNTANTS
In our opinion and to the best of our information and according to the explanations given to us. the statement:
a. is presented in accordance with the requirements of Regulation 33 of the Regulations; and
b. gives a true and fair view in conformity with Indian Accounting Standard 34 "Interim Financial Reporting", (Ind AS 34") prescribed under Section 133 of the Companies Act, 2013 (the "Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the quarter and year ended 31st March, 2025.
Basis for Opinion
We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.
Management's Responsibilities for the Standalone Financial Results
This Statement, is the responsibility of the Company's Management and approved by the Board of Directors, has been compiled on the basis of standalone financial statements for the year ended 31st March, 2025. The Company's Board of Directors are responsible for the preparation and presentation of the Standalone Financial Results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accountures
HO: E-1603, LAKE FLORENCE, LAKE HOMES, OFF ADI SANKARACHARYA MARG, POWAI, MUMBAI, (MAHARASHTRA)- 400076, MOB: 00414
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policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.
In preparing the Standalone Financial Results, the Board of Directors are responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the financial reporting process of the Company.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
- Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- . Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company to express an opinion on the Standalone Financial Results.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters
The stand-alone financial statement includes the results for the quarter ended 31st March, 2025 being the balancing figure between the audited figures in respect of the full financial year ended 31st March, 2025 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to limited review by us, as required under the Regulations. Our opinion is not modified in respect of this matter.
For Azad Jain & Co
Chartered Accountants
Firm Registration Number: 0062516 CA Rishabh Verdia Partner Membership Number: 400600
Place: Mumbai Dated: 26th April, 2025 UDIN No: 25400600BMOASE8813
bHANsAli ENGiNEERiNq polyMERs liMiTEd
CIN: L27100MH1 984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61/62163/64 • E-mail : [email protected] • Website: www.bhansaliabs.com
STATEMENT OF STANOALONE AUOITEO FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2025 UNDER IND AS
| ('On lakhs) (Except Earning p er share) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| STANDALONEYear ended | |||||||||
| PA RTI C ULARS | Quarter ended | 31 /03/2024 | 31/03/2025 | 31/03/2024 | |||||
| 31/03/2025Audited | 31 /12/2024Unaudited | Audited | Audited | Aud ited | |||||
| INCOME | |||||||||
| I | Gross Revenue including GST | 40.681.43 | 40.804.74 | 37,705.24 | 1.64,898. 74 | 1,43,951.21 | |||
| II | Less GST Recovered | 6, 187.23 | 6,221 .13 | 5,587.03 | 25.124.37 | 21.777 61 | |||
| Ill Revenue from operations (Net of GST) (1-11) | 34 494.20 | 34 583.61 | 32 118.21 | 1,39 774.37 | 1 22 173.60 | ||||
| IV Other Income | 767.09 | 673.82 | 914.08 | 3 829.10 | 4,064.25 | ||||
| v Total Income (lll+IV) | 35,261.29 | 35,257.43 | 33,032.29 | 1,43,603.47 | 1,26,237.85 | ||||
| VI | EXPENSES | ||||||||
| (a) Cost of materials Consumed | 22 076.17 | 21 ,708.37 | 20,235.20 | 86,693.27 | 77,942.79 | ||||
| (b) Purchase of stock-in-trade | 2 153.79 | 3,052.76 | 2,495.80 | 11 ,427.15 | 6,274.17 | ||||
| (c) Changes 1n inventories of finished goods, | 31 .66 | (71 .22) | (551 .22) | 679.27 | (1 .026.08) | ||||
| work-in-progress and s1ock-in-trade(d ) Employee benefits expense | 1 324.64 | 1,486.08 | 1.278.87 | 5 921.82 | 5,473.96 | ||||
| (e) Finance Costs | 5 97 | 4.53 | 4.64 | 19.37 | 20.49 | ||||
| (f) Deprec1at1on & amort1sat1on expenses | 217.27 | 212.11 | 235.69 | 900.21 | 969.72 | ||||
| In\ Other exoenses | 4.091.48 | 3.235.85 | 3.552.91 | 13,603.36 | 12.306.39 | ||||
| TOTAL EXPENSES (a tog) | 29,900.98 | 29,628.48 | 27,251 .89 | 1,19, 244.45 | 1,01,961.44 | ||||
| VII Profit /(Loss) before exceptional and extraordinary Item s | |||||||||
| and tax IV - VII | 5 ,360.31 | 5,628.95 | 5,780.40 | 24,359.02 | 24,276.41 | ||||
| VIII Exceptional Items | - | - | |||||||
| IX Profit /(Loss) before extraordinary items and tax (VII- VIII) | |||||||||
| x Extraordinary items | 5 ,360.31 | 5,628.95 | 5,780.40- | 24,359.02 | 24,276.41 | ||||
| Profit I (Loss) before share of net profit/(loss ) of investment | |||||||||
| XI | acco unted for using equity method and tax (IX -X) | 5,360.31 | 5,628.95 | 5,780.40 | 24,359.02 | 24,276.41 | |||
| Share of net profit/(loss) from Joint Venture accounted for usingXII the eQu1tv method | - | - | |||||||
| XIII Profit I (Loss) before tax (Xl+Xll) | 5 360.31 | 5 628.95 | 5 780,40 | 24 359.02 | 24 276.41 | ||||
| XIV Tax Expenses | |||||||||
| (1) Current tax | 1 420.40 | 1.562.55 | 1.604.17 | 6,362.28 | 6,295 03 | ||||
| Cul Deferred tax | 18.96 | 9.94 | 41.49 | 14.81 | 8.08 | ||||
| xv Profit I (Loss) for the period ( XIII- XIV) | 3 920.95 | 4,056.46 | 4,134.74 | 17 981.93 | 17 973.30 | ||||
| XVI Other Comprehensive Income I (loss) (net of tax) | f70.99) | f109.77' | f118.55l | f1 09.741 | |||||
| XVII Tota11,,omprenens1ve income I \L.oss1 ror tne penoa ,, | 3 ,849.96 | 4,056.46 | 4,024.97 | 17,863.38 | |||||
| +XVI ) | 17,863.56 | ||||||||
| XVIII Paid Up Equity Share Capital | 2 488.58 | 2,488.58 | 2,488.58 | 2 488.58 | 2.488.58 | ||||
| XIX Reserves excluding revaluation reserves | - | - | 97,558.43 | 89,649.39 | |||||
| (as shown in the Audited Balance Sheet of previous year) | |||||||||
| xx Earnings per share (ofeach) | |||||||||
| (1) Basic | 1.58 | 1.63 | 1.66 | 7.23 | 7.22 | ||||
| (11) Diluted | 1.58 | 1.63 | 1.66 | 7.23 | 7.22 | ||||
| Notes : | |||||||||
| 1 | |||||||||
| The Audited Standalone Financial Results have been prepared 1n accordance with the recognition and measurement principles provided 1n IndianAccounting Standards (lndAS 34 ), the provisions of the Companies Act. 2013 (the Act), as applicable and gu1del1nes issued by the Securities andExchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, (SEBI (LODR) Regulations, 20151as amended. | |||||||||
| 2 | The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors 1n their meeting held on | ||||||||
| 3 | 26th Apnl, 2025.In accordance with Regulation 33 of the SEBI (LODR) Regulations, 2015, the above Audited Standalone Financial Results of the Company are postedon Company's website (www.bhansallabs.com) and on the website of BSE L1mrted (www.bsemd1a.com) and the National Stock Exchange of India | ||||||||
| Limited (www.nse1nd1a.com), where the Company's shares are listed. | |||||||||
| The figures for the quarter ended 31st March, 2025 and 31st March, 2024 are the balancing figures between the audited figures 1n respect of the full | |||||||||
| During the Financial Year ("FY-) 2024-25, the Board of Directors had declared 1st, 2nd and 3rd lntenm D1v1dend of t .11- each (100 %) per Equity Share | |||||||||
| f1nanc1al year and the reviewed year-to-date figures up to third quarter of the respective financial year. | |||||||||
| (of the face value of t .1 each), in their respective meetings held on 13th July 2024 ,21st October, 2024 and 16th January, 2025 . Further, the Board of | |||||||||
| Directors 1n its meeting held on 26th Apnl. 2025 has recommended a Final D1v1dend of t .11- each (100 %) per Equity Share (of face value of t .1 each) | |||||||||
| for the f1nanc1al year ended 31st March, 2025. sub1ect to approval of the shareholders in the ensuing Annual General Meeting. Cons1denng the above. | |||||||||
| the total D1v1dend declared during FY 2024-25 amounts to ~.4 | each (400 %J per Equity Share. | ||||||||
| The Company operates in a single segment namely "Highly Specialized Engmeenng Thermoplastics· | |||||||||
| 4567 | Figures for the previous Penodl Year have been re-grouped/ reworked/ re-arranged wherever necessary, to make them comparable. | ||||||||
| For Bhansali Engineering Polymers Limited | (GpO<~(!j | ||||||||
| Place : Mumb ai | h 8 . Bhansalit | Joint Managing Director & CFO | I~ MU |
Satnoor Plant : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. Tel.: (07165) 226376/77/78/79 • E-mail: [email protected] Abu Road Plant : Plot No. SP-1 38-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026. Tel. : (02974) 226781 /82/83/84 • E-mail : [email protected]
b~ANsAli ENGiNEERiNG polyMERs liMiTEd
CIN : L271OOMH1984PLC032637
Registered Office: 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61/62/63/64 •E-mail : [email protected] •Website: www.bhansaliabs.com
| AS AT 31ST MARCH, 2025 | STATEMENT OF AUDITED STANDALONE ASSETS AND LIABILITIES | |
|---|---|---|
| I~ in lakhs) | ||
| Particulars | As at 31stMarch 2025 | As at 31stMarch 2024 |
| A Assets | ||
| 1) Non-Current Assets | ||
| (a) Property, Plant and Equipment | 13,694.85 | 13,255.85 |
| (b) Capital work in progress | 1,139.61 | 1,894.44 |
| (c) Intangible assets | 14.19 | 0.30 |
| (d) Financial assets | ||
| (i) Non- current Investments | 112.80 | 112.80 |
| (ii) Loans | 7,600.00 | |
| (iii) Other financial assets | 869.81 | 17.59 |
| (e) Other non-current assets | 930. 15 | 950.48 |
| Total Non-Current Assets (A) | 16,761.41 | 23,831.46 |
| 2) Current Assets | ||
| (a) Inventories | 11 ,786.81 | 13,583.39 |
| (b) Financial assets | ||
| (1) Trade Receivables | 25,546.30 | 22,993.06 |
| (Ii) Cash and cash equivalents | 34,814.14 | 10,377.96 |
| (iii) Bank balances other than (ii) above | 5,632.81 | 10,354.19 |
| (iv) Loans | 14,151 .66 | 22,218.06 |
| (v) Other Financial assets | 450. 12 | 465.89 |
| (c) Other current assets | 1,072.67 | 1,612.89 |
| Total Current Assets (B) | 93,454.51 | 81 ,605.44 |
| Total Assets (A)+ (B) | 1, 10,215.92 | 1,05,436.90 |
| B Equity & Liabilities | ||
| 1) Equity | ||
| (a) Equity share capital | 2,488.58 | 2,488.58 |
| (b) Other Equity | 97,558.43 | 89,649.39 |
| Total Equity (A) | 1,00,047.01 | 92,137.97 |
| 2) LiabilitiesNon-Current Liabilities | ||
| (a) Financial L1abili1ies | - | |
| (b) Provisions | 153.34 | 126.69 |
| (c) Deferred tax liabilities (Net) | 1,706.75 | 1,731.82 |
| Total Non-Current Liabilities (B) | 1,860.09 | 1,858.51 |
| Cu rrent Liabilities | ||
| (a) Financial Liabili1ies | ||
| (1) Trade payables | ||
| a) total outstanding dues of micro and small enterprises | 226.4 55.426.56 | 351.398,680.90 |
| b) total outstanding dues of creditors other than micro | ||
| and small enterprises | ||
| (11) Other F1nanc1al Current liabilities | 816.72 | 928.90 |
| 1,737.67 | 1,306.18 | |
| (b) Other current liabilities | 111.42 | |
| (c) Provisions | 101.42 | |
| (d) Current tax liabilities (Net) | ||
| Total Current Liabilities (C) | 8,308.82 | 61 .6311 ,440.42 |
® b~ANSAli ENqiNEERiNq polyMERS liMiTEd
CIN: L27100MH1984PLC032637
Registered Office: 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61/62/63/64 •E-mail : [email protected] •Website : www.bhansaliabs.com
BHANSALI ENGINEERING POLYMERS LIMITED
| Standalone Statement of Cash Flow for the Year ended 31st March, 2025 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| ----------------------------------------------------------------------- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| in lakhs) | ||
|---|---|---|
| Plrtlculan | Year ended31st March. 2025 | Year ended31st March 2024 |
| Cash flows from operating activities | ||
| Profit before tax as per statement of profit and loss | 24,359.02 | 24,276.41 |
| Adjustments to reconcile profit before tax to net cash flows | ||
| Depreciation of property, plant and equipment | 897.98 | 969.72 |
| Amortisation of Intangible Asset s | 2.23 | |
| Profit on sale of property, plant and equipment (net) | (11.48) | (6.01) |
| Interest income | (3,616.15) | (3,560.26) |
| Net (gain) arising from fair value of financial assets designated as at FVTPL | (33.401 | (0.24) |
| Dividend from equity investments | (90.24) | (112.80) |
| Rent Income | (13.40) | |
| Unrealised exchange (gain)/ losses | (19.20) | (24.63) |
| Operating profit before working capital changes | 21,475.36 | 21,542.19 |
| Movement in Working Capital: | ||
| Decrease/ (increase) in Inventories | 1,796.58 | 3,498.02 |
| Decrease I (increase) in Trade and other receivables | (2,553.24) | 803.17 |
| Decrease I (increase) in other non current financial assets | (818.82) | 0.24 |
| Decrease/ (increase) in other current financial assets | 15.77 | 33.35 |
| Decrease I (increase) in Other current assets | 540.22 | 280.71 |
| Increase I (Decrease) in Other non cu rrent assets | 20.33 | 5.48 |
| Increase I (Decrease) in Trade payable | (3,360.08) | 2,824.57 |
| Increase I (Decrease) in Provision | (141.78) | (39.24) |
| Increase I (Decrease) in other current fi nancial liabilities | (197.60) | 326.39 |
| Increase I (Decrease) in other non-current financial liabilities | ||
| Increase/ (Decrease) in Other current liabilities | 431.49 | (53.72) |
| Cash generated from/(used in) operations | 17,208.23 | 29,221.16 |
| Direct taxes paid, net of refunds | (6,423.911 | (6.233.40) |
| Net cash flow from/(used in) operating activities (A) | 10,784.32 | 22,987.76 |
| Cash flows from investing activities | ||
| Purchase of Property, plant and equipment including CWIP | (607.20) | (2,137.41) |
| Proceeds from sale of Property, plant and equipment | 20.41 | 21.28 |
| Fixed Deposits placed | 4,806.80 | 2,544.80 |
| Dividend from equity investments | 90.24 | 112.80 |
| Rent Income | 13.40 | |
| Loans Given | (60,323.101 | (24,246.75) |
| Loans Received back | 75,989.50 | 24,656.31 |
| Interest income | 3,616.15 | 3,560.26 |
| Net cash from/(used in) investing activities (B) | 23,606.20 | 4,511.29 |
| Cash flows from financing activities | ||
| Dividend paid on equity shares | (9,954.34) | (32,351.60) |
| Net cash from/(used in) financing activities (C) | (9,954.34) | (32,351.60) |
| Net increase/ (decrease) in cash and cash equivalents (A+B+C) | 24,436.18 | (4,852.56) |
| Cash and Cash equivalents at the beginning of year | 10,377.96 | 15,230.52 |
| Cash and Cash equivalents at the end of the year (Refer Note no 12) | 34,814.14 | 10,377.96 |
- The above Cash Flow Statement has been prepared under the 'Indirect method' as set out in the Ind AS-7 on Statem':iint of Cash Flow as notified under Companies (Accounts) Rules, 2015. ~ ~ ~ 2.Previous year's figures have been regrouped and rearranged wherever necessary. 4-F ~~
lNl>U'ENDf.NT /\UDITOR'S RH'OHT
To,
Thr Board of Dirrrtors of Bhansali Enginrrrlng l'ol ynwrs I.i m If ('d
R<'porl on llw Audit 11f llw Commlid.il1·d Annu.iJ Mn.inddl Hesulls
Opinion
We have audilPd the dcn>mpcinying Statement of consolidated fina ncial results of BHAN"SALI ENGINEERING POLYMERS LIMITED ('the Company'), comprising its joint venture company BHANSALI NIPPON A & L PRIVATE LIMITED ('the Joint Venture'), (together, 'the Group') fo r the year ended 31'1 March, 2025 ('the Statement'), attached here with, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended ('the ReguJations').
AZAD JAIN & CO. ~IA RTERED ACCOUNTANTS
In our opinion and to the best of our i.nformation and according to the explanations given to us, and based on the consideration of the report of M/s B.L. Dasharda & Associates, Chartered Accountants, on separate financial statements and the other financial in formation of Joint Venture, these consolidated financial resul ts for the year:
- a) includes the year lo date financial resul ts of the Group;
- b) is presented in accordance with the requirements of Regulation 33 of the Regulations; and
- c) gives a true and fair view in conformity with Indian Accounting Standard 34 "Interim Financial Reporting ("Ind AS 34") prescribed under Section 133 of the Companies Act, 2013 (the "Act") read with relevant rules issued thereunder and other accounting principles generally accepted i.n India of the net profit and total comprehensive income and other financial information of the Company for the quarter and year ended 31st March, 2025.
Basis for Opinion
We conducted our audit of the Statement i.n accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Act. O ur responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidclted FincUlCial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAl") together with the ethical requirements that are relevant to our audit of the Consolidclted Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.
Management's Responsibilities for the Consolidated Financial Results
This Statement, is the responsibility of the Company's Management and approved by the Board of Directors, has been compiled on the basis of consolidated financial statements for the year ended 31st March, 2025. The Board of Directors of the companies are responsible for the preparation and presentation of the Consolidated Financial Results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Ind AS 34, prescrib_,""' • ~~ under Section 133 of the Act, read with re levant rules issued thereunder and other acco .- -:;-:4}~ ff·' ~ '1/~~\ (»I . 'l-<A \0 ,
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principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Consolidated Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.
In preparing the Consolidated Financial Results, the respective Board of Directors are responsible for assessing the Group ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those respective Board of Directors are also responsible for overseeing the financial reporting process of the Group.
Auditor's Responsibilities for the Audit of the Consolidated Financial Results
Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Consolidated Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- . Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
- · Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- . Evaluate the overall presentation, structure and content of the Consolidated Financial Results, including the disclosures, and whether the Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the Consolidated Financial Results of the Company to express an opinion on the Consolidated Financial Results.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters:
The consolidated financial statement includes the results for the quarter ended 31st March, 2025 being the balancing figure between the audited figures in respect of the full financial year ended 31st March, 2025 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to limited review by us, as required under the Regulations. Our opinion is not modified in respect of this matter.
The consolidated audited financial statements includes the share of total comprehensive Income of Rs 28.91 lakhs and Rs 109.83 lakhs for the quarter and year ended 31st March, 2025 respectively of the company in respect of its Joint Venture based on the audited financial statements and other financial information. These financial statements and other financial information have been audited by other auditors, whose reports have been furnished to us by the management. Our opinion, in so far as it relates to the affairs of such Joint venture is based solely on the report of such auditors. Our opinion is not qualified in respect of this matter.
For Azad Jain & Co
Chartered Accountants
Firm Registration N
CA Rishabh Verdia
Partner
Membership Number: 400600
Place: Mumbai Dated: 26th April, 2025 UDIN No:25400600BMOASF3498
MITTS FIRM
bHANSALI ENGINEERING POLYMERS LIMITED
CIN: L27100MH1984PLC032637
Registered Office: 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61/62/63/64 · E-mail: [email protected] · Website: www.bhansaliabs.com
STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2025 UNDER IND AS
| CONSOLIDATED | ||||||
|---|---|---|---|---|---|---|
| PARTICULARS | Quarter endedYear ended | |||||
| 31/03/2025 | 31/12/2024 | 31/03/2024 | 31/03/2025 | 31/03/2024 | ||
| Audited | Unaudited | Audited | Audited | Audited | ||
| INCOME | ||||||
| $\mathbf{I}$н | Gross Revenue including GSTLess: GST Recovered | 40,681.436,187.23 | 40,804.746,221.13 | 37,705.245,587.03 | 1.64.898.74 | 1.43.951.21 |
| 34,494.20 | 34,583.61 | 32,118.21 | 25.124.371,39,774.37 | 21.777.611,22,173.60 | ||
| ШIV | Revenue from operations (Net of GST) (I-II) | 767.09 | 673.82 | 3.738.86 | ||
| $\vee$ | Other IncomeTotal Income (III+IV) | 35,261.29 | 35,257.43 | 801.2832,919.49 | 1,43,513.23 | 3,951.451,26,125.05 |
| VI | EXPENSES | |||||
| (a) Cost of materials Consumed | 22.076.17 | 21.708.37 | 20,235.20 | 86.693.27 | 77,942.79 | |
| (b) Purchase of stock-in-trade | 2,153.79 | 3.052.76 | 2,495.80 | 11.427.15 | 6,274.17 | |
| (c) Changes in inventories of finished goods. | 31.66 | (71.22) | (551.22) | 679.27 | (1,026.08) | |
| work-in-progress and stock-in-trade | ||||||
| (d) Employee benefits expense | 1,324.64 | 1,486.08 | 1,278.87 | 5.921.82 | 5.473.96 | |
| (e) Finance Costs | 5.97 | 4.53 | 4.64 | 19.37 | 20.49 | |
| (f) Depreciation & amortisation expenses | 217.27 | 212.11 | 235.69 | 900.21 | 969.72 | |
| (g) Other expenses | 4.091.48 | 3.235.85 | 3,552.91 | 13,603.36 | 12,306.39 | |
| TOTAL EXPENSES (a to g) | 29,900.98 | 29,628.48 | 27,251.89 | 1,19,244.45 | 1,01,961.44 | |
| Profit / (Loss) before exceptional and extraordinary items | ||||||
| VII | and tax $(V - VI)$ | 5,360.31 | 5,628.95 | 5,667.60 | 24,268.78 | 24, 163.61 |
| VIII | Exceptional Items | $\blacksquare$ | $\blacksquare$ | ٠ | ||
| IX | Profit / (Loss) before extraordinary items and tax (VII- VIII) | 5,360,31 | 5,628.95 | 5,667.60 | 24,268.78 | |
| 24, 163.61 | ||||||
| X | Extraordinary items | ÷. | $\overline{\phantom{a}}$ | ¥. | ||
| Profit / (Loss) before share of net profit/(loss) of investment | ||||||
| accounted for using equity method and tax (IX -X) | 5,360.31 | 5,628.95 | 5,667.60 | 24,268.78 | 24.163.61 | |
| XI | ||||||
| Share of net profit/(loss) from Joint Venture accounted for | ||||||
| XII | using the equity method | 28.91 | 27.53 | 20.51 | 109.83 | 76.64 |
| XIII | Profit / (Loss) before tax (XI+XII) | 5,389.22 | 5,656.48 | 5,688.11 | 24,378.61 | 24,240.25 |
| XIV Tax Expenses | ||||||
| (i) Current tax | 1,420.40 | 1.562.55 | 1,604.17 | 6.362.28 | 6295.03 | |
| (ii) Deferred tax | 18.96 | 9.94 | 41.49 | 14.81 | 8.08 | |
| XV | Profit / (Loss) for the period (XIII-XIV) | 3,949.86 | 4,083.99 | 4.042.45 | 18,001.52 | 17,937.14 |
| XVI | Other Comprehensive Income / (loss) (net of tax)Total Comprehensive Income / (Loss) for the period (XV | (70.99) | ÷ | (109.77) | (118.55) | (109.74) |
| XVII | $+XVI$ ) | 3,878.87 | 4,083.99 | 3,932.68 | 17,882.97 | 17,827.40 |
| XVIII Paid Up Equity Share Capital | ||||||
| 2,488.58 | 2.488.58 | 2,488.58 | 2.488.58 | 2.488.58 | ||
| XIX Reserves excluding revaluation reserves(as shown in the Audited Balance Sheet of previous year) | 97.717.59 | 89,788.96 | ||||
| XX | Earnings per share (of ₹.1/- each) | |||||
| (i) Basic | 1.59 | 1.64 | 1.62 | |||
| 1.62 | 7.237.23 | 7.217.21 | ||||
| (ii) Diluted | 1.59 | 1.64 | ||||
| Notes: | ||||||
| $\overline{1}$ | ||||||
| The Audited Consolidated Financial Results have been prepared in accordance with the recognition and measurement principles provided in Indian | ||||||
| Accounting Standards (IndAS 34), the provisions of the Companies Act, 2013 (the Act), as applicable and guidelines issued by the Securities and | ||||||
| Exchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, [SEBI (LODR) Regulations, 2015] | ||||||
| as amended. | ||||||
| $\overline{2}$ | The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meeting held on | |||||
| 26th April, 2025. | ||||||
| 3 | In accordance with Regulation 33 of the SEBI (LODR) Regulations, 2015, the above Audited Consolidated Financial Results of the Company are | |||||
| posted on Company's website (www.bhansaliabs.com) and on the website of BSE Limited (www.bseindia.com) and the National Stock Exchange of | ||||||
| India Limited (www.nseindia.com), where the Company's shares are listed. | ||||||
| 4 | The figures for the quarter ended 31st March, 2025 and 31st March, 2024 are the balancing figures between the audited figures in respect of the full | |||||
| financial year and the reviewed year-to-date figures up to third quarter of the respective financial year. | ||||||
| 5 | During the Financial Year ("FY") 2024-25, the Board of Directors had declared 1st, 2nd and 3rd Interim Dividend of ₹.1/- each (100 %) per Equity Share | |||||
| (of the face value of ₹.1 each), in their respective meetings held on 13th July, 2024, 21st October, 2024 and 16th January, 2025. Further, the Board of | ||||||
| Directors in its meeting held on 26th April, 2025, has recommended a Final Dividend of ₹.1/- each (100 %) per Equity Share (of face value of ₹.1 each) | ||||||
| for the financial year ended 31st March, 2025, subject to approval of the shareholders in the ensuing Annual General Meeting. Considering the above, | ||||||
| the total Dividend declared during FY 2024-25 amounts to ₹.4/- each (400 %) per Equity Share. | ||||||
| 6 | "The Company operates in a single segment namely "Highly Specialized Engineering Thermoplastics | |||||
| 7 | The consolidated financial statements include results of Joint Venture Company viz.Bhansali Nippon A & L Private Limited. | |||||
| 8 | Figures for the previous Period/ Year have been re-grouped/ reworked/ re-arranged wherever necessary, to make them comparable. | |||||
| For Bhansali Engineering Polymers Limited | ||||||
| Jayesh B. Bhansali | RING | |||||
| Place: Mumbai | Joint Managing Director & CFO | ENGINMUMBA | ||||
| Dated : 26th April, 2025 | DIN:01062853 | |||||
Abu Road Plant : Plot No. SP-138-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026. Tel.: (02974) 226781/82/83/84 · E-mail: [email protected]
bHANsAli ENGiNEERiNG polyMERs liMiTEd
CIN: L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61 /62/63/64 •E-mail: [email protected] • Website : www.bhansaliabs.com
| STATEMENT OF AUDITED CONSOLIDATED ASSETS AND LIABILITIES | |||||
|---|---|---|---|---|---|
| AS AT 31ST MARCH, 2025 | (~ in lakhs) | ||||
| Particulars | As at 31 stMarch 2025 | As at 31stMarch 2024 | |||
| A Assets | |||||
| 1) Non-Current Assets | |||||
| (a) Property. Plant and Equipment | 13.694.85 | 13.255.85 | |||
| (b) Capital work in progress | 1.139.61 | 1.894.44 | |||
| (c) Intangible assets | 14.19 | 0.30 | |||
| (d) Financial assets | |||||
| (1) Non- current Investments | 271.96 | 252.37 | |||
| (11) Loans | 7.600.00 | ||||
| (11i) Other financial assets | 869.81 | 17.59 | |||
| (e) Olher non-current assets | 930.15 | 950.48 | |||
| Total Non-Current Assets (A) | 16,920.57 | 23,971 .03 | |||
| 2) Current Assets | |||||
| (a) Inventories | 11.786.81 | 13.583.39 | |||
| (b) Financial assets | |||||
| (i) Trade Receivables | 25.546.30 | 22.993.06 | |||
| (ii) Cash and cash equivalents | 34 .81 4.14 | 10.377.96 | |||
| (iii) Bank balances other than (ii) above | 5.632.81 | 10 .354.19 | |||
| (iv) Loans | 14,151 .66 | 22,218.06 | |||
| 450.12 | 465.89 | ||||
| (v) Other Financial assets(c) Other current assets | 1,072.67 | 1,612.89 | |||
| Total Current Assets (B) | 93,454.51 | 81 ,605.44 | |||
| Total Assets (A)+ (B) | 1, 10,375.08 | 1,05,576.47 | |||
| B Equity & Liabilities | |||||
| 1) Equit y | |||||
| (a) Equity share capilal | 2.488.58 | 2.488.58 | |||
| (b) Other Equity | 97 .717.59 | 89.788.96 | |||
| Total Equity (A) | 1,00,206.17 | 92,277.54 | |||
| 2) Liabil itiesNon-Current Liabilities | |||||
| (a) Financial liabilities | |||||
| (b) Provisions | 153.34 | 126.69 | |||
| (c) Deferred tax liabilities (Net) | 1.706.75 | 1.731.82 | |||
| Total Non-Current Liabilities (B) | 1,860.09 | 1,858.51 | |||
| Current Liabilities | |||||
| (a) Financial Liabilities | |||||
| (1) Trade payables | |||||
| a) total outstanding dues of micro and small enterprises | 226.45 | ||||
| b} total outstand111g dues of creditors other Uian micro | 5,426.56 | ||||
| and small enterprises | |||||
| (ii) Other Financial Current Liabilities | 816.72 | ||||
| (b) Other current liabilities | 1.737.67 | ||||
| (c) Provisions | 101.42 | ||||
| (d) Current tax liabilities (Net) | |||||
| Total Current Liabilities (C) | 8,308.82 | 351 .398,680.90928.901.306.18111 .4261.6311,440.42 |
bHANSALI ENGINEERING POLYMERS LIMITED
CIN: L27100MH1984PLC032637
Registered Office: 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61/62/63/64 · E-mail: [email protected] · Website: www.bhansaliabs.com
| BHANSALI ENGINEERING POLYMERS LIMITEDConsolidated Statement of Cash Flow for the Year ended 31st March, 2025 | ||||
|---|---|---|---|---|
| (₹ in lakhs) | ||||
| Particulars | Year ended31st March, 2025 | Year ended31st March, 2024 | ||
| Cash flows from operating activities | ||||
| Profit before tax as per statement of profit and loss | 24,378.61 | 24,240.25 | ||
| Add: Dividend from Joint Venture | 90.24 | 112.80 | ||
| Adjustments to reconcile profit before tax to net cash flows | 24,468.85 | 24.353.05 | ||
| Depreciation of property, plant and equipment | 897.98 | 969.72 | ||
| Amortisation of Intangible Assets | 2.23 | |||
| Profit/(Loss) on Disposal/Write Off of Fixed Assets (Net) | (11.48) | (6.01) | ||
| Share of profits of Joint Venture | (109.83) | (76.64) | ||
| Interest income | (3,616.15) | (3,560.26) | ||
| Net (gain) arising from fair value of financial assets designated as at FVTPL | (33.40) | (0.24) | ||
| Rent Income | (13.40) | |||
| Unrealised exchange (gain) / losses | (19.20) | (24.63) | ||
| Operating profit before working capital changes | 21,565.60 | 21,654.99 | ||
| Movement in Working Capital: | ||||
| Decrease / (increase) in Inventories | 1,796.58 | 3,498.02 | ||
| Decrease / (increase) in Trade and other receivables | (2, 553.24) | 803.17 | ||
| Decrease / (increase) in other non current financial assets | (818.82) | 0.24 | ||
| Decrease / (increase) in other current financial assets | 15.77 | 33.35 | ||
| Decrease / (increase) in Other current assets | 540.22 | 280.71 | ||
| Increase / (Decrease) in Other non current assets | 20.33 | 5.48 | ||
| Increase / (Decrease) in Trade payable | (3,360.08) | 2,824.57 | ||
| Increase / (Decrease) in Provision | (141.78) | (39.24) | ||
| Increase / (Decrease) in other current financial liabilities | (197.60) | 326.39 | ||
| Increase / (Decrease) in other non-current financial liabilities | ||||
| Increase / (Decrease) in Other current liabilities | 431.49 | (53.72) | ||
| Cash generated from/(used in) operations | 17,298.47 | 29,333.96 | ||
| Direct taxes paid, net of refunds | (6,423.91) | (6, 233, 40) | ||
| Net cash flow from/(used in) operating activities (A) | 10,874.56 | 23,100.56 | ||
| Cash flows from investing activities | ||||
| Purchase of Property, plant and equipment including CWIP | (607.20) | (2, 137.41) | ||
| Proceeds from sale of Property, plant and equipment | 20.41 | 21.28 | ||
| Fixed Deposits placed | 4,806.80 | 2,544.80 | ||
| Loans Given | (60, 323.10) | (24, 246.75) | ||
| Loans Received back | 75,989.50 | 24,656.31 | ||
| Rent Income | 13.40 | |||
| Interest income | 3,616.15 | 3,560.26 | ||
| Net cash from/(used in) investing activities (B) | 23,515.96 | 4.398.49 | ||
| Cash flows from financing activities | ||||
| Dividend paid on equity shares | (9,954,34) | (32, 351.60) | ||
| Net cash from/(used in) financing activities (C) | (9,954.34) | (32, 351.60) | ||
| Net increase / (decrease) in cash and cash equivalents (A+B+C) | 24,436.18 | (4,852.55) | ||
| Cash and Cash equivalents at the beginning of year | 10,377.96 | 15,230.52 | ||
| Cash and Cash equivalents at the end of the year (Refer Note 12) | 34,814.14 | 10,377.96 |
Notes:
-
The above Cash Flow Statement has been prepared under the 'Indirect method' as set out in the Ind AS-7 on Statement of Cash Flow as otified under Companies (Accounts) Rules, 2015.
-
Previous year's figures have been regrouped and rearranged wherever necessary
bHANsAli ENGiNEERiNG polyMERs liMiTEd
CIN: L27100MH1984PLC032637
Registered Office: 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website: www.bhansaliabs.com
BEPL/SEC/2025/78
26th April, 2025
| To | To |
|---|---|
| The BSE Limited | The National Stock Exchange of India Ltd. |
| Corporate Relationship Department | Exchange Plaza, C-1, Block G, |
| eejeebhoy Towers,Phiroze J | Bandra-Kurla Complex, |
| Da lal Street, | Sandra (East), |
| Mumbai - 400 001 | Mumbai -400 051. |
| Security Code: 500052 | Security Code: BEPL |
Sub: Declaration of un-modified opinion - Audit Report on Financial Results (Standalone and Consolidated) for the quarter and financial year ended 31st March, 2025.
Dear Sir,
Pursu a nt to Regu la tion 33(3)(d) of the SEBI (Listing Obligation s and Disclosure Requirem ents) Regula tions, 201 5, as am ended , I he reby confirm th at the S ta tutory Auditors of th e Company M/s. Azad J ain & Co., Ch arte red Accou n tants, Mumbai (FRN - 00625 1C) h ave issu ed Audit Report with unmodified opinion in respect of Fina ncial Results for the qu a rter and financial year ended 3 1st Ma rch , 2025.
Kindly ta ke the sa me on record.
Thanking you ,
~
Jayesh B. Bhansali Joint Managing Director cum CFO (DIN 01062853)
