=4 SKYLINE MILLARS LIMITED [Millars

08t May, 2024

To, The Manager - Listing Department The BSE Limited PhirozeJeejeebhoy Towers, Dalal Street, Mumbai - 400 001.

Reference: - Skyline Millars Limited BSE Code - ⁵⁰⁵⁶⁵⁰

Dear Sir(s),

Sub: Outcome of the Proceeding of the Board Meeting held on Wednesday, 08t May, 2024 - Disclosure of information under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

With reference to above captioned subject, we wish to inform you that the Board of Directors at their meeting held today has approved and took on record the following matters:

1. The Audited Financial Results of the Company for the fourth quarter and year ended 31st March, 2024.
1. As recommended by Nomination and Remuneration Committee, Mr. Ashok Pillai appointed as an Independent Director subject to approval of members by Postal Ballot (details enclosed in Annexure -1)

We enclose herewith a copy of the said Audited Financial Results along with the Auditor's Report thereupon and Annexure-1.

The Board meeting commenced at 03.00 p-m. and concluded ato5:55 p.m.

Kindly take the same on record and acknowledge the receipt.

For Skyline Millars Limited

puhch - Lot

~ Maulik Dave Whole-time Director

Encl.: as above

Sales Office : C/2, Skyline Wealthspace, Gate No. 2, Skyline Oasis, Premier Road, Vidyavihar (W), Mumbai - 400 086. Tel.: (022) 2511 2194 / 95

Reoictered & Cornarate Office* Chirchoate Hance 4" g Flone 29-24 Vaor Nariman . Daad od Toaet T M.Lot AOD AN

Annexure-1

1. Reason for change viz. appointment, resignation, removal, death or otherwise;

As recommended by Nomination and Remuneration Committee and approved by Board of Directors at its meeting held on 08 May, 2024, Mr. Ashok Pillai appointed as an Independent Director.

This appointment is subject to approval of members by Postal Ballot.

2. Date of appointment/ cessation (as applicable) and Term of appointment

Mr. Ashok Pillai appointed for a first term of five (5) consecutive years with effect from 08t May, 2024 subject to approval of members by Postal Ballot.

3. Brief profile (in case of appointment)

Mr. Ashok Pillai (DIN: 00167849), aged 69 years and is a BE (Hons) in Electrical and Electronics from BITS, Pilani and Diploma in Management Studies from Mumbai University. He has worked with L&T in Switchgear (Contracts) Division, IGE (India) Limited, Raychem India and Saudi Arabia. Mr. Pillai has worked in GMM Pfaudler Ltd. since, 1995 and retired as Chief Operating Office in the year March 2022. He was earlier a Director in Glass-Lined Equipment Company Limited and Prestige Tefparts Private Limited. ~He is executive Director of Decbectochem Engineering since 2023. Decbectochem is a JV between Dec India and the Bector family.

4. Disclosure of relationships between directors (in case of appointment of a _ director).

Mr. Ashok Pillai is not related with any of the Directors of the Company.

Sales Office : C/2, Skyline Wealthspace, Gate No. 2, Skyline Oasis, Premier Road, Vidyavihar (W), Mumbai - 400 086. Tel.: (022) 2511 2194 / 95

Reoictored & Cornarate (MBice® Churehoate Honce 4 Flonr 29-24 Veor Nariman Paad EFort Mumheat — A00 001

Manubhai & Shah LLP

Chartered Accountants

Independent Auditor's Report on the Quarterly and Year to Date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To

The Board of Directors of SKYLINE MILLARS LIMITED

Report on the audit of the Financial Results

Opinion

We have audited the accompanying statement of financial results of SKYLINE MILLARS LIMITED "the Company"") for the quarter and year ended 31st March, 2024 ("the Statement"), attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us these financial results:

Iz are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India of the net loss and other comprehensive loss and other financial information for the quarter and year ended 31st March, 2024,

Basis of Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the 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 together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Financial Results

These financial results have been prepared on the basis of annual financial statements. The Company's Board of Directors are responsible for the preparation and presentation of these 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 Indian Accounting Standard 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 of the assets of the Company 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 design, implementation and maintenance

Manubhai & Shah LLP, a Limited Liability Partnership with LLP identity No.AAG-0878 3C, Maker Bhavan - 2, 18, New Marine Lines, Mumbai-400 020. Phone : +91-22-6633 3558 / 59 / 60

Re_gd, Office : G-4, Capstone, Opp. Chirag Motors, Sheth Mangaldas Road, Ellisbridge, Ahmedabad - 380 006. Gujarat, India. Phone : +91-79-2647 0000 P A P TR

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 financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the 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 Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial results as a whole are 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 these financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

e Identify and assess the risks of material misstatement of the 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 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statement on whether the Company has adequate internal financial controls with reference to financial statements in place and the operative effectiveness of such controls.
« Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
« Evaluate the appropriateness and reasonableness of disclosure 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 Company's ability 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 financial results 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 financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

* Obtain sufficient appropriate audit evidence regarding the financial result of the company to express an opinion on the financial results.

Materiality is the magnitude of misstatements in the financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the financial result.

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 financial results include the results for the quarter ended 31st March, 2024 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

FOR MANUBHAI & SHAH LLP CHARTERED ACCOUNTANTS FRN: 106041W/W100136

CA LAXMINARAYAN P YEKKALI PARTNER Membership No.: 114753

UDIN: 24114753BKDZVB9827

Mumbai, 08" May, 2024

SKYLINE MILLARS LIMITED CIN NO. L63020MH1919PLC000640 REGD. OFFICE : 4TH FLOOR, CHURCHGATE HOUSE 32-34, VEER NARIMAN ROAD, FORT, MUMBAI - 400001 STATEMENT OF FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31st MARCH, 2024

52			(Rs. In Lakhs )
No.	Particul CIRn	Quarter ended				Year ended
	G			31.03.2024 31.12.2023 31.03.2023 31.03.2024		31.03.2023
				(Unaudited) (Unaudited) (Unaudited)	(Audited)	(Audited)
	Income
	(2) Revenue from operations ( Gross)		0.00)	0.00	5	1505
	(5) Other Income	1436	980	11.84)	4635	4323
1	[Total Income	1336	9.80)	1184	4635	58.28]
	Expenses
	(a) Cost of materials consumed	2	5	-	-
	(b) Purchase of stockin trade	3	-	s	-	-
	(c) Change in inventories of finished goods, work-in-progress and stock-in-trade	:	:			1630
	(d) Cost of Construction	(0.00)	0.00	s	(000)	:
	(e) Excise Duty () Employee benefits expenses		:	-	5	E
	(¢) Finance cost	639	6.18	855	3019	3162
	(1) Depreciation and amortisation expenses	g 031	0.00	0,00	-	c
	(i) Other Expenses	2521	027 2115	023	102	093
	[Total Expenses	3191		5285	11015	170.36
2			27.60	6163	14136	219.21
	[Profit/ (Loss) before exceptional items and tax (1-2)
3 4	Exceptional items	(755)	(17.80)	(49.79)	(s5.0)	(160.93)
5	[Profit/ (Loss) before tax (3-4)	s (755	@780)	:		=
				(@9.79)	(e5.01)	(160.53)
	Tax Expense
	a) Current tax
	b) (Excess)/Short Tax Provision of earlier years	=	-	-	-	=
	c) Deferred tax	i -	-	:		L
6	[Total Tax Expense	5	5	= z	- 5	- <

7	(Loss) for the period from continuing operations (5 - 6] [Profit/	(755)	_@780)	(@9.79)	(5.01)	(16093)

8	[Loss from discontinuing operations	(1.00)	(1.33)	(17.85)	(4.35)	(23.42)
9	[Tax Expenses of discontinuing operations		3	§	:	i
10	[Loss from discontinuing operations (8 - 9)	(.00	[FED)	(17.85)	@35)	(23.42)

11	[Profit/ (Loss) for the period (7 + 10]	(185%)	_ (19.13)	(67.64)	(99.36)	(184.35)
	(Other Comprehensive Income (Net of Tax)
	A ltems that will not be reclassified to Profit & Loss	(007)	0.06	(0.0)	005
12	[Total Other Comprehensive Income	(0.07)	0.06	(0.05)	0.05	(0.17) (0.17)

13	[Total Comprehensive income for the period (11+12)	(1562	__(19.0)	(67.69)	(99.30)	(184.52)

14	[Paid up Equity Share Capital (Face Value Re 1/- each)	40224	40224	40224	402.24	20224

15	[Reserves excluding Revaluation Reserves as at Balance Sheet date				2,075.03	217433
16
	Earning per Share (£PS)
	a) Earning per share Basic & Diluted (in Rs) (for contining operations) (not annualised)
	b) Earning per share Basic & Diluted (in Rs) (for discontinuing operations) (not	(0.04)	(0.04)	(0412)	(0.28)	(0.40)
	annualised)	(001)
			(0.01)	(0.05)	(0.01)	(0.06)
	) Earning per share Basic & Diluted (in Rs) (for total operations) (not anualised)	(0.05)	(0.05)	(047)	(0.25)	(0.46)

oY /D»MJQ

Notes :

1) The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 8th May, 2024.
2 The above results have been prepared in accordance with Companles (Indian Accounting Standards) Rules, 2015 (ind AS') prescribed under sectlon 13 of the Companies Act,2013, read together with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companes (Indian Accounting Standards) (Amendment) Rules, ²⁰¹⁶
3) The Company i primarlly engaged in Real Estate business and after discantinuation of Urnreth division there s only one reportable segment.
4 Figures for the previous periods have been re-grouped / re-arranged wherever necessary.
s) SMLis unable to launch the next phase of development at Ghatkopar since 2011 as matter is pending in Supreme Court.
6) Skyline Millars Limited has commensed construction work of "F - Wing" at Karjat Property.

For and on behalf of Board of Directors

Mr.Maullk H Dave Place : Mumbal DIN No. 01448536 Date :08/05/2024 \ (Whole time Director)

SKYLINE MILLARS LIMITED CIN NO. L63020MH1919PLC000640 REGD. OFFICE : 4TH FLOOR, CHURCHGATE HOUSE 32-34, VEER NARIMAN ROAD, FORT, MUMBAI - 400001 AUDITED BALANCE SHEET

		(Rs.tn Lakhs )
	ASat3L03.2024	Asat3103.2023
Pemm—	(Audited)	(Audited)
JASSETS
Non-current assets
Property, Plant and Equipment	2696	2523
Other Intangible assets	0.00	000
Investment Property
Financial Assets	=	-
(i) Non-current investments	046	041
(ii) Trade receivables
(iii) Loans	-	-
(1) Other financial assets	- 304.76	s
Deferred tax assets (net)		304.76
Other non-current assets	<	=
Total Non-Current Assets	3455 367.12	3495 365.36
[Current assets
Inventories
Financial Assets	1,359.07	1,257.00
() Trade and other recelvables
	<	024
Cash and cash equivalents (i)	108.12	65.28
Bank balances other than (i)	s77.61	707.10
{iv) Loans	0.10	0.05
Rssets for Current Tax (Net)	-	g
Assets Classified as Held for Sale	31026	31026
Other current assets	037	1.02
Total Current Assets	235552	23404
Total Assets	2,722.65	2,706.29
[EQUITY AND LIABILITIES
Equity
Equity Share capital	402.24	402.24
Other Equity	2,075.03
Total Equity	2471.27	2,174.33
*		2,576.58
Non-current labilties
Financial Liabilities

(i) Other financl iabilities - non-current	802	4506
Other non-current iabiities
Provisions	3195	3495
Liabiltes for Non Current Tax (Net)	1907	1908
Total Non-current Liabilities	102.04	99.09
Current liabilities

Financial Lizbilites
(i) Short Term Borrowings	-
(i) Trade and other payables
Total outstanding dues of micro enterprises and small
enterprises	-	-
Total outstanding dues of creditors other than micro
enterprises and small enterprises	4
l liabilities	66.77	& 21.80
jes	7652	878
Current Tax Liabilty
Provisions		b
Total Current Liabilties	.29	3058
Total Equity and Liabilities	272265
		270625

For and on behalf of Board of Directors N

A yuhih - Lo \_/7 Mr.Maulik H Dave

Place : Mumbai DIN No. 01448536 Date :08/05/2024 (Whole time Director)

CIN : L63020MH1919PLC000640

	Cash Flow Statement for the year ended 31st March, 2024		(Rs. In Lakhs)
		Year ended	Year ended
		31st March, 2024	31st March, 2023
A)	Cash Flow from operating activities
	Profit / (Loss) before tax from
	Continuing operations	(95.01)	(160.93)
	Discontinued Operations	(4.35)	(23.42)
	Loss before tax including discontinued operations	(99.36)	(184.35)
	Adjustments for
	Depreciation and amortisation expense	102	0.93
	Impairment loss	-	-
	Finance cost	-
	Interest income from financial assets at amortised cost	(41.72)	- (42.23)
	Interest income from others	(0.16)
	Dividend income	-	-
	Inventory written off	-	-
	Sundry balances written back	(3.90)	(0.36)}
	Provision for GST	-	34.95
	Net loss on sale of assets classified as held for sale	-	15.89
	Net gain on disposal of property, plant and equipment	-	-
	Operating loss before working capital changes	(143.13)	(175.18)

	Adjustments for
	(Increase)/Decrease in trade receivables	024	5.62
	Increase/(Decrease) in trade payables	-	-
	(Increase)/Decrease in financial assets	(0.05)	(0.12)
	{Increase)/Decrease in other assets	0.65	0.90
	(Increase)/Decrease in assets classified as held for sale	-	-
	Increase/(Decrease) in financial liabilities	51.83	(1.69)
	Increase/(Decrease) in provisions	=	3
	Increase/(Decrease) in other liabilities	67.74	7.66
	(Increase)/Decrease in inventories Cash flow from / (used In) operating activities post working capital changes	(102.07)	(10.40)
		(125.79)	(173.20)
	Income taxes paid (Net of refunds)	(0.01)	6.62
	Net Cash flow generated from / (used in) operating actlvities (A)	(125.80)	(166.58)
B)	Cash Flow from investing activities
	Purchase of property, plant and equipment	(2.75)	-
	Proceeds from property, plant and equipment	-	0.00
	Proceeds from investments	2	=
	Deposits with bank		=
	Changes in FD Balances	129.49	68.80
	Proceeds from assets classified as held for sale	-	41.96
	Interest income	4174	4223
	Interst on other income	0.16
	Dividend received	-	-
	Net Cash Flow from Investing actlvities (B)	168.64	152.99
C)	Cash Flow from financing actlvities
	Proceeds from borrowings
	Repayments of borrowings	-	-
	Interest paid	- -	- -
	Net Cash Flow used in financing activities (C)	-	-

	Net increase / (decrease) in cash and cash equivalents (A+B+C)	42.84	(13.59)

	Cash and cash equivalents at the beginning of the year	65.28	78.87

Cash and cash equivalents at the end of the year 108.12 65.28

Note: .\

—

1 The cash flow statement has been prepared under the indirect method as set out in Dl\dhfi'kc'aunting Standard (Ind AS 7) statement of cash flows. 151)

0.00 (0.00)}

CIN : L63020MH1919PLC000640 SKYLINE MILLARS LIMITED

Cash Flow Statement for the year ended 31st March, 2024 (Rs. In Lakhs)

activities, to meet the disclosure requirement. The amendments to IND AS 7 Cash flow statements requires the entities to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows and non cash changes, suggesting of Inclusion of reconciliation between opening and closing balances in the Balance sheet for liabilities arising from financing

	AsatistApril, 2021	Cash Flow	Interestaccrued but not due	Non cash changes- [ As at 31st March, 2022
Borrowings - Non current	-	-	-	-
Borrowings - Current	a	5	3	3

	Asat 1st April, 2022	Cash Flow	Interest accrued but not due	Non cash changes- As at 315t March, 2023
Borrowings - Non current	-	-	-	-
Borrowings - Current	-	-	-	-

As per our Report of Even Date For Manubhal and Shah LLP Chartered Accountants FRN 106041W / W100136

CA Laxminarayan P Yekkali Partner /7 Membership No. 114753

Place : Mumbai Date : 08/05/2024 For and on behalf of the Board of directors

DIN No. 01448536 DIN No. 02820572 Company Secretary Whole time Director Director

Mr.Maulik H Dave Mr.Shilpin K. Tater Mrs. Neelam Shah

Mr. Harshal Phatak CFO

Place : Mumbai Date : 08/05/2024

SKYLINE MILLARS LIMITED [Millars

08" May, 2024

To, The Manager - Listing Department The BSE Limited PhirozeJeejeebhoy Towers, Dalal Street, Mumbai - 400 001.

Reference: - Skyline Millars Limited BSE Code - 505650

Dear Sir(s),

Sub: Declaration on the Auditor's Report with Unmodified Opinion under Regulation 33 of SEBI (LODR)(Amendment)Regulations, 2015.

Dear Sir/Madam,

1, Maulik Dave, Whole-time Director of the Company, in compliance with Regulation 33(3)(d) of SEBI (Listings Obligations and Disclosure Requirements) Regulation, 2015, hereby confirm that Manubhai & Shah LLP (Firm Registration No. 106041W/W 100136), Statutory Auditors have issued an Audit report with unmodified opinion in respect of the Audited Standalone Financial Results of the fourth quarter and year ended 31sMarch, 2024.

This is for your information and records

For Skyline Millars Limited

k- o

Maulik Dave Whole-time Director DIN:01448536

Sales Office : C/2, Skyline Wealthspace, Gate No. 2, Skyline Oasis, Premier Road, Vidyavihar (W), Mumbai - 400 086. Tel.: (022) 2511 2194 / 95

Registered & Corporate Office: Churchgate House, 4" Floor, 32-34, Veer Nariman Road, Fort, Mumbai - 400 001. Tel.: (022)22047471 « www.skylinemillarsltd.com CIN : L63020MH1919PLC000640

AI assistant

Skyline Millars Ltd Annual Report 2024

63181_rns_2024-05-08_e9a5726c-d25c-4e17-bfb4-e9def33a3b49.pdf

=4 SKYLINE MILLARS LIMITED [Millars

Annexure-1

1. Reason for change viz. appointment, resignation, removal, death or otherwise;

2. Date of appointment/ cessation (as applicable) and Term of appointment

3. Brief profile (in case of appointment)

4. Disclosure of relationships between directors (in case of appointment of a _ director).