Integrated Filing — IndAS



General information about company

Scrip Code 000000
NSE Symbol SADHAV
MSEI Symbol NOTLISTED
ISIN INE0K5H01010
Name of company SADHAV SHIPPING LIMITED
Type of company SME
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 11-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 03-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Half Yearly
Reporting Quarter Half yearly
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended
Segment Reporting Single segment
Description of single segment Shipping
Start date and time of board meeting 11-11-2025   15:00:00
End date and time of board meeting 11-11-2025   16:20:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public No
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. No
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 17-10-2023
Indicate Company website link for updated RPT policy of the Company www.sadhavshipping.com
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
The Company has not defaulted in payment of interest or principal amount for the borrowings taken during the period under view.



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 3,498.97 3,498.97
Other income 31.58 31.58
Total income 3,530.55 3,530.55
2 Expenses
(a) Cost of materials consumed 1,320.14 1,320.14
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 620.63 620.63
(e) Finance costs 287.18 287.18
(f) Depreciation, depletion and amortisation expense 417.29 417.29
(f) Other Expenses
1 Other Expenses 333.86 333.86
Total other expenses 333.86 333.86
Total expenses 2,979.10 2,979.10
3 Total profit before exceptional items and tax 551.45 551.45
4 Exceptional items 0.00 0.00
5 Total profit before tax 551.45 551.45
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 134.22 134.22
9 Total tax expenses 134.22 134.22
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 417.23 417.23
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 417.23 417.23
17 Other comprehensive income net of taxes 0.00 0.00
18 Total Comprehensive Income for the period 417.23 417.23
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 1,435.26 1,435.26
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 2.92 2.92
Diluted earnings (loss) per share from continuing operations 2.92 2.92
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 2.92 2.92
Diluted earnings (loss) per share from continuing and discontinued operations 2.92 2.92
24 Debt equity ratio 0.82 0.82
25 Debt service coverage ratio 0.82 0.82
26 Interest service coverage ratio 2.92 2.92
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The Audited Standalone Financial Results for the half year ended 30th September, 2025, have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their meeting held on 11th November, 2025. 2. The statutory auditor of the Company has carried out the statutory audit on standalone financial results and have expressed an unmodified opinion. Further, these standalone audited financial results have been prepared in accordance with the recognition and measurement principles laid down in the relevant accounting standard prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and the terms of the Regulation 33 of SEBI (Listing and Disclosure Requirements) Regulations, 2015 as amended from time to time. 3. All business activities of the company revolve around one business segment i.e. Shipping. Therefore, disclosure requirements under AS-17 (Segment Reporting) are not applicable. 4. The Audited Standalone Financial Results for the half year ended 30th September, 2025 is available on website of the Stock Exchange i.e. www.nseindia.com. and on the website of the Company website i.e. www.sadhavshipping.com. 5. No investor complaints were recorded or received during the period under review. 6. The Company does not have any subsidiaries or associate or joint venture companies as on 30th September, 2025 and therefore consolidation of financial statements is not applicable for the period under review. 7. The figures for the corresponding period have been re-grouped or re- classified whenever considered necessary to make it comparable. 8. Earnings per share (Basic and Diluted) for interim periods have not been annualized.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 21,691.16
Capital work-in-progress 782.55
Investment property 0.00
Goodwill 0.00
Other intangible assets 0.00
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 0.00
Total non-current financial assets 0.00
Deferred tax assets (net) 0.00
Other non-current assets 42.00
Total non-current assets 22,515.71
2 Current assets
Inventories 0.00
Current financial asset
Current investments 0.00
Trade receivables, current 1,439.89
Cash and cash equivalents 1,951.13
Bank balance other than cash and cash equivalents 0.00
Loans, current 0.00
Other current financial assets 0.00
Total current financial assets 3,391.02
Current tax assets (net) 0.00
Other current assets 1,983.16
Total current assets 5,374.18
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 27,889.89
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,435.26
Other equity 8,928.92
Total equity attributable to owners of parent 10,364.18
Non controlling interest
Total equity 10,364.18
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 8,513.71
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
Total non-current financial liabilities 8,513.71
Provisions, non-current 113.90
Deferred tax liabilities (net) 1,370.64
Deferred government grants, Non-current 0.00
Other non-current liabilities 3,625.92
Total non-current liabilities 13,624.17
Current liabilities
Current financial liabilities
Borrowings, current 1,166.52
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 119.99
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,574.09
Total Trade payable 1,694.08
Other current financial liabilities 0.00
Total current financial liabilities 2,860.60
Other current liabilities 1,014.32
Provisions, current 26.62
Current tax liabilities (Net) 0.00
Deferred government grants, Current 0.00
Total current liabilities 3,901.54
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 17,525.71
Total equity and liabilites 27,889.89
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 551.45
Adjustments for reconcile profit (loss)
Adjustments for finance costs 287.18
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current (74.83)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 281.39
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (68.39)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 3,625.92
Adjustments for depreciation and amortisation expense 417.29
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current (13.12)
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 194.94
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 0.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 4,650.38
Net cash flows from (used in) operations 5,201.83
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 5,201.83
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 1.80
Purchase of property, plant and equipment 2,338.19
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities (2,336.39)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 1,353.93
Repayments of borrowings 2,955.69
Payments of lease liabilities 0.00
Dividends paid 0.00
Interest paid 0.00
Income taxes paid (refund) 287.18
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (1,888.94)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 976.50
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 976.50
Cash and cash equivalents cash flow statement at beginning of period 974.63
Cash and cash equivalents cash flow statement at end of period 1,951.13





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M/s. Suvarna & Katdare, Chartered Accountants Yes 31-12-2028


Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 Sadhav Offshore Enginnering Private Limited Mr. Kamal Kant Choudhury Chairman & Managing Director Advance 105.66 Approved 105.66 302.00 407.66
2 Sadhav Offshore Enginnering Private Limited Mr. Kamal Kant Choudhury Chairman & Managing Director Purchase of fixed assets 50.54 Approved 50.54 423.96 321.41
3 Sadhav Shipping Limited Mr. Kamal Kant Choudhury Chairman & Managing Director Loan 353.00 Approved 353.00 191.32 544.32
4 Sadhav Shipping Limited Mr. Kamal Kant Choudhury Chairman & Managing Director Remuneration 12.60 Approved 12.60 28.38 29.25
5 Sadhav Shipping Limited Mr. Kamal Kant Choudhury Chairman & Managing Director Any other transaction Sitting Fees 1.35 Approved 1.35 3.37 4.59
6 Sadhav Shipping Limited Mrs. Sadhana Choudhury Whole Time Director Loan 47.00 Approved 47.00 102.52 149.52
7 Sadhav Shipping Limited Mrs. Sadhana Choudhury Whole Time Director Remuneration 10.80 Approved 10.80 36.83 44.52
8 Sadhav Shipping Limited Mrs. Sadhana Choudhury Whole Time Director Any other transaction Sitting Fees 1.25 Approved 1.25 3.91 5.04
9 Sadhav Shipping Limited Mr. Vedant Choudhury Whole Time Director & CEO Loan 11.64 Approved 11.64 159.74 171.38
10 Sadhav Shipping Limited Mr. Vedant Choudhury Whole Time Director & CEO Remuneration 12.00 Approved 12.00 15.75 20.44
11 Sadhav Shipping Limited Mr. Vedant Choudhury Whole Time Director & CEO Any other transaction Sitting Fees 1.55 Approved 1.55 4.99 6.39
12 Sadhav Shipping Limited Mr. Subhas Chandra Choudhury Non - Executive Director Any other transaction Sitting Fees 1.45 Approved 1.45 1.30 1.94
13 Sadhav Shipping Limited Mr. Ashok Bal Independent Director Any other transaction Sitting Fees 0.35 Approved 0.35 0.00 0.00
14 Sadhav Shipping Limited Mr. Rajesh Kakkar Independent Director Any other transaction Sitting Fees 0.35 Approved 0.35 0.00 0.00
15 Sadhav Shipping Limited Mr. Bharat Bhushan Nagpal Independent Director Any other transaction Sitting Fees 0.25 Approved 0.25 0.00 0.00
16 Sadhav Shipping Limited Mr. Bibekananda Satapathy Independent Director Any other transaction Sitting Fees 0.45 Approved 0.45 0.00 0.00
17 Sadhav Shipping Limited Mr. Kairali Gopi Nath Independent Director Any other transaction Sitting Fees 0.55 Approved 0.55 0.00 0.09
18 Sadhav Shipping Limited Mr. Abhas Chandra Choudhury Relative of Promoter Remuneration 7.50 Approved 7.50 1.17 4.83
19 Sadhav Shipping Limited Mrs. Lopamudra Sahoo Relative of Promoter Remuneration 3.00 Approved 3.00 1.96 1.96
20 Sadhav Shipping Limited Mr. Nilakantha Prasad Sahu Chief Financial Officer Remuneration 4.80 Approved 4.80 0.69 0.69
21 Sadhav Shipping Limited Ms. Madhuri Shrigopal Rathi Company Secretary Remuneration 3.16 Approved 3.16 0.41 0.52
Total value of transaction during the reporting period 629.25