Skyline Millars Ltd — Audit Report / Information 2025

May 8, 2025

SKYLINE MILLARS LIMITED Millars

08th May, 2025

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 Thursday, 08th May, 2025 -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. Approval of Audited Financial Results of the Company for the fourth quarter and year ended 31st March, 2025.
• 1. Approval of draft Directors report for the financial year ended 31^st March, 2025.
• 1. Appointment of M/s P Mehta & Associates, Practicing Company Secretaries (Firm Registration Number S2018MH634500), as Secretarial Auditors for a period of five consecutive years commencing from FY 2025-26 till 2029-30, subject to approval of members at ensuing Annual General Meeting of the Company. The details are provided in "Annexure 1".
• 1. Approval of draft Notice of 105^th Annual General Meeting of the Company.

We enclose herewith following documents:

• 1. A copy of the above said Audited Financial Results along with the Auditor's Report thereupon.
• 1. A copy of brief details of the aforesaid appointment in "Annexure-1"
• 1. Declaration in respect of Audit Report with an unmodified opinion on the Audited Financial Statements of the Company.

The Board meeting commenced at 03.00 p.m. and concluded at $\zeta$ : 30 p.m.

Kindly take the same on record and acknowledge the receipt.

For Skyline Millars Limited

let-ollane Maulik Dave

Whole-time Director Encl.: as above

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

Registered Office: Churchgate House, 4^th Floor, 32-34, Veer Nariman Road, Fort, Mumbai - 400 001. Tel. : (022) 2204 7471 · www.skylnemillarsitd.com CIN: L63020MH1919PLC000640

Annexure- 1

1' Reason for change viz. appointrnent, re-appointment, resignation, otherwise; removal, death or

secretaries Appointnent of M/s' P' Mehta and Associates, peer Reviewed Firrn of company in Practice (ACS No.: 5814 Cp No.: 17341 pR:2354/2022), Auditors of as secretarial the Company

2' Date of appointmenf/ re-appointment/ app ointment/re_app cessation (us applicable) and Ter:n of ointment

3. Brief profile (in case of appointment)

India He is (RAI). ^amember of the Legal and Advocacy cornmittee of the Retailer Association of

4' R:llff:of relationships between directors (in case of appointment of a director).

Sales Office : C/2, Skyline Welthspace, Gate No. 2, Skyline Oasis, Premier Road, Vidyavihar (w), Mumbai - 400 086. Tet. : (022) 2511 2194 | 95

Registered Office : Churchgate House, 4tn Floor, 32-34,Veer Nariman Road, Fort, Mumbai - 400 001. Tel. :(022) 2204 7471 . www.skylnemillarsltd.com GIN : L63020MH1919PLC000640

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

Opinion

We have audited the accompanying financial results of Skyline Millars Limited ("the Company") for the quarter and year ended 31^st March 2025 ("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:

• $\mathbf{i}$ . 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 (Ind As) and other accounting principles generally accepted in India of the net loss and other comprehensive income and other financial information for the quarter and year ended 31^st March 2025.

Basis for 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.

Managements and Board of Director's Responsibilities for the Financial Results

These financial results have been prepared on the basis of the annual financial statements for the year ended 31^st March 2025. The Company's Management and Board of Directors are responsible for the preparation and presentation of the financial results that give a true and fa view of the net loss and other comprehensive income and other financial information 'S

S G D G & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAI-324

A-Wing, 7th Floor, 701-703, Dynasty Business Park, Andheri Kurla Road, Andheri (E), Mumbai - 400 059.

P: +91 98208 51518, 94285 98036 E: info@sgdg.co.in, sharad.gupta@sgdg.co W: www.sgdg.co.in

accordance with the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Act read with relevant rules issued there under 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 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 Management and 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:

• 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.

• Conclude on the appropriateness of the Management and 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.

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 Matter

The financial results for the quarter ended 30^th June, 2024 and quarter and year ended 31^st March 2024, were reviewed / audited by previous auditor whose report expressed an unmodified opinion on those financial results.

The financial results include the results for the quarter ended 31^st March 2025 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 and the previous auditor, as required under the Listing Regulations.

Our opinion on the financial results for the year ended 31^st March 2025, is not modified in respect of these matters.

For S G D G & Associates LLP Chartered Accountants FRN: W100188

gran ad.

CA Sharad Gupta Partner Membership No.: 116560 Mumbai, 8^th May 2025 UDIN: 25116560BMOJEB3893

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, 2025

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Sr.	Particulars		Quarter ended			(Rs. In Lakhs) Year ended
No.		31.03.2025	31.12.2024	31.03.2024	31.03.2025	31.03.2024
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)	(Audited)
	Income
	(a) Revenue from operations (Gross)	213.16	0.00	0.00	213.16
	(b) Other Income	27.33	9.11	14.36	55.48	46.35
1	Total Income	240.49	9.11	14.36	268.64	46.35
	Expenses
	(a) Cost of Construction	130.46	0.00		130.46	(0.00)
	(b) Employee benefits expenses	7.43	7.23	6.39	28.89	30.19
	(c) Depreciation and amortisation expenses	0.29	0.33	0.31	1.27	1.02
	(d) Other Expenses	75.03	12.63	25.21	127.47	110.15
2	Total Expenses	213.21	20.19	31.91	288.09	141.36
з
4	Profit / (Loss) before exceptional items and tax (1-2) Exceptional items	27.28	(11.08)	(17.55)	(19.45)	(95.01)
5	Profit / (Loss) before tax (3 - 4)
		27.28	(11.08)	(17.55)	(19.45)	(95.01)
	Tax Expense
	a) Current tax	ä,	$\overline{\phantom{a}}$	٠
	b) (Excess)/Short Tax Provision of earlier years	×
	c) Deferred tax	×.	۰
6	Total Tax Expense		۰	$\bullet$	$\blacksquare$	۰
7	Profit / (Loss) for the period from continuing operations $(5 - 6)$	27.28	(11.08)
				(17.55)	(19.45)	(95.01)
8	Loss from discontinuing operations	(5.81)	(0.69)	(1.00)	(6.67)	(4.35)
9	Tax Expenses of discontinuing operations
10	Loss from discontinuing operations (8 - 9)	(5.81)	(0.69)	(1.00)	(6.67)	(4.35)
11	Profit / (Loss) for the period $(7 + 10)$	21.47
			(11.77)	(18.55)	(26.12)	(99.36)
	Other Comprehensive Income (Net of Tax)
	A. Items that will not be reclassified to Profit & Loss	(0.17)	0.23	(0.07)	0.24	0.05
12	Total Other Comprehensive Income	(0.17)	0.23	(0.07)	0.24	0.05
13
	Total Comprehensive Income for the period (11+12)	21.30	(11.54)	(18.62)	(25.88)	(99.30)
14	Paid up Equity Share Capital (Face Value Re 1/- each)	402.24	402.24	402.24	402.24	402.24
15	Reserves excluding Revaluation Reserves as at Balance Sheet date				2,049.15	2,075.03
16	Earning per Share (EPS)
	a) Earning per share Basic & Diluted (in Rs) (for continuing operations) (not
	annualised)	0.07	(0.03)	(0.04)	(0.05)	(0.24)
	b) Earning per share Basic & Diluted (in Rs) (for discontinuing operations) (not
	annualised)	(0.02)	(0.00)	(0.01)	(0.02)	(0.01)
	c) Earning per share Basic & Diluted (in Rs) (for total operations) (not anuualised)	0.05	(0.03)	(0.05)	(0.06)	(0.25)

Notes:

• u rhe above results have been reviewed by the Audit committee and approved by the Boaro of Directors at their respective meetings held on gth May,2O2S.
• 2l rhe above results have been prepared in accordance with companies (lndian Accounting standards) Rules, 20i5 (,lnd As,) prescribed under section 133 ofthe companies Act,2o13, read together with rule 3 of the companies (lndian Accounting standards) Rules, 2015 and companies (rndian Accounting standards) (Amendment) Rures, ²⁰¹⁶
• 3) The company is primarily engaged in Real Estate business and after discontinuation of umreth division there is only one reportable segment.
• 4l Figures for the previous periods have been re-grouped / re-arranged wherever necessary.
• 5) sML is unable to launch the next phase of development at Ghatkopar since 2011 as matter is pending in supreme court.
• 5) skyline Millars Limited has commensed construction work of ,,F - wing" at Karjat propeny.
• 7l Other Income includes profit on Sale of Delhi Office Rs.19.78 Lacs
• 8) During the quarter, the company recognised revenue as per Ind AS 115 , Revenue from contract with customers,, over the period method amounting to Rs. 213.15 Lakh in respect of contracts executed with customers on or before 31st March 2025.
• The Financial results include the results for the quarter ended 31st March 202s, being the balancing figure between the audited fi8ures in respect ofthe 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 subject to lim1ed review by current and previous auditors, as required under the Listing Regulations

For and on behalf of Board of Dlrecto6

DIN No.01448536 (Whole time Director)

Place: Mumbai Date :08/05/2025

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

Particulars	As at 31.03.2025	As at 31.03.2024
	(Audited)	(Audited)
ASSETS
Non-current assets
Property, Plant and Equipment	7.40	26.96
Other Intangible assets	0.00	0.00
Investment Property
Financial Assets
(i) Non-current investments (ii) Trade receivables	0.70	0.46
(iii) Loans
(iv) Other financial assets
Deferred tax assets (net)	300.99	304.76
Other non-current assets
Total Non-Current Assets	23.29 332.38	34.95
		367.13
Current assets
Inventories	1,430.56	1,359.07
Financial Assets
(i) Trade and other receivables	20.83
(ii) Cash and cash equivalents	112.80	108.12
(iii) Bank balances other than (ii)	393.75	577.61
(iv) Loans	0.98	0.10
Assets for Current Tax (Net)	٠
Assets Classified as Held for Sale	310.26	310.26
Other current assets	0.61	0.37
Total Current Assets	2,269.79	2,355.52
Total Assets	2,602.17	2,722.65
EQUITY AND LIABILITIES
Equity
Equity Share capital	402.24
Other Equity	2,049.15	402.24
Total Equity	2,451.39	2,075.03 2,477.27
Non-current liabilities
Financial Liabilities
(i) Other financial liabilities - non-current	56.13	48.02
Other non-current liabilities
Provisions	22.89	34.95
Liabilities for Non Current Tax (Net)	19.28	19.07
Total Non-current Liabilities	98.30	102.04
Current liabilities
Financial Liabilities
(i) Short Term Borrowings
(ii) 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	16.96	9.33
(iii) Other financial liabilities Other current liabilities	33.02	57.44
Current Tax Liability	2.50	76.52
Provisions	٠	÷
Total Current Liabilities	52.48	٠ 143.29
Total Equity and Liabilities	2,602.17	2,722.65

For and on behalf of Board of Directors

/ Rs. In Lakhel

il·Dave mar

Mr.Maulik H Dave DIN No. 01448536 (Whole time Director)

NUMBA 100001

क

Place : Mumbai Date: 08/05/2025

CIN : t63020MH1919PtC000640 SKYTINE M!ttARS [lMITED

p, i

Cash Flow Statement for the ended 31st 2025			ln
		Year ended	Year ended
A)	Cash Flow from operatlng actlvities	31st March,2025	31st March,2024
	Profit / (Loss) before tax from
	Continuing operations	(1s.4s)	(9s.o1l
	Discontinued Operations	16.671	(4.3S1
	Loss before tax including discontinued operations	(26.121	(ss.36l
	Adjustments for
	Depreciation and amortisation expense	t:27
	lmpairment loss		t.o2
	Finance cost
	Interest income from financial assets at amortised cost	(3s.3e)
	Interest income from others	(0.17)	(47.74l'
	Dividend income	(0.01)	(0.15)
	Inventory written off
	Sundry balances written back
	Provision for GST		(3.s0)
	Net loss on sale of assets classified as held for sale	(0.40)
	Net gain on disposal of property, plant and equipment		:
	Operating loss before working capital changes	(19.78)
		(80.50)	(144.13)
	Adjustments for
	(lncrease)/Decrease in trade receivables
	Increase/(Decrease) in trade payables	(20.83)	0.24
	(lncrease)/Decrease in fi nancial assets	7.63
	(lncrease)/Decrease in other assets	2.89	(0.0s)
		7t.42	0.6s
	(lncrease)/Decrease in assets classified as held for sale
	Increase/(Decrease) in financial liabilities	(16.31)	51.83
	Increase/(Decrease) in provisions	(11.55)
	Increase/(Decrease) in other liabilities	174.O2l	67.74
	( Increase)/Decrease in inventories	177.491	(102.07)
	Cash flow from / (used In) operatln6activitles post worklng capital changes	(2s2.981	1125.791
	Income taxes paid (Net of refunds)	0.16	(0.01
	Net Cash flow generated from / (used in) operatlng actlvitles (A)	(2s2.821	(12s.801
	Lasn How rrom Invesflng activlties
	Purchase of property, plant and equipment	(14
	Proceeds from property, plant and equipment	39.48	12.7s)
	Proceeds from investments
	Deposits with bank
	Changes in FD Ealances	183.85
	Proceeds from assets classified as held for sale		L29.49
	Interest income	35.39	4L74
	Interst on other income	0.r7
	Dividend received		0.15
	Net Cash Flow from Investlng activities (B)	0.01 257.50	168.54
	Cash Flow from financing actlvlties
	Proceeds from borrowings
	Repayments of borrowings
	Interest paid
	Net Cash Flow used ln financlng activltles (C)
	Net Increase / (decrease) In cash and cash equlvalents (A+B+C)	4.68	42.U
	Cash and cash equivalents at the beginning of the year
		108.12	65.28
		112.80
			108.12 (0.00)1 0.00

in Indian Accounti nt Standard (lnd AS 7) statement of cash

,vug0l

CIN : 163020MH1919ptC000G40

SKYLINE MILIARS TIMITED

Cash Flow Statement for the year ended 31st March, ²⁰²⁵ (Rs. In lakhs)

The amendments to IND As 7 cash flow statements requires the entities to provide disclosures that enable users of financlal statements to evaluate changes in liabllities 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 financlnt activities, to meet the disclosure requirement.

Borrowints - Non current
Borrowings - Current

			As at 31st March,
Borrowings - Non current
Borrowings - Current

For SGDG Associates & LLp Accountants w100188

,

CA Sharad Gupta Partner Membership No. 116560

per our Report of Even Date For and on behalf of the Board of directors

e DIN No.01448536 Whole time Director

DfN No. 02820572 CompanySecretary Director

Mr.Shilpin K. Tater Mrs. Neelam Shah

Mr. Harshal Phatak cFo

Place : Mumbai

08ft May,2025

To, TheJVlanager - Listing Department The BSE Limited PhirozeJeejeebhoy Towers, Dalal Stree! Mumbai - 400 001.

Reference: - Skyline Millars Limited BSE Code _ 505G50

Dear Sir(s),

Dear Sir/Madam,

L Maulik Dave; I4trhole-time Director of the of SEBI (Listings Obligations and Disclosur that M/s. S G D G & Associates, LLp (Finn Registration No. W. Financial have issued Results an Audit report with unmojifiea olpini";; respect of the Audited standalone of the fourth quarter and year ended 3l,tMarcrr, 2025.

This is for your information and record.s

For Skyline Millars Limited

Whole-time Director DIN:01448536

Sales Office:. Cl2, Skyline Welthspace, Gate No. 2, Skyline Oasis, Premier Road, Vidyavihar (w), Mumbai - 400 086. Tel. : (022) 2511 2194 | 95