Integrated Filing — IndAS



General information about company

Scrip Code 003435
NSE Symbol MUNISH
MSEI Symbol NOTLISTED
ISIN INE1K8Y01018
Name of company Munish Forge 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 20-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 14-11-2025
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 Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
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 Single Segment
Start date and time of board meeting 20-11-2025   17:00:00
End date and time of board meeting 20-11-2025   18:00:00
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



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 Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 8,253.48 8,253.48
Other income 53.60 53.60
Total income 8,307.08 8,307.08
2 Expenses
(a) Cost of materials consumed 5,278.95 5,278.95
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (539.91) (539.91)
(d) Employee benefit expense 638.46 638.46
(e) Finance costs 316.05 316.05
(f) Depreciation, depletion and amortisation expense 193.60 193.60
(f) Other Expenses
1 Other Expenses 1,597.56 1,597.56
Total other expenses 1,597.56 1,597.56
Total expenses 7,484.71 7,484.71
3 Total profit before exceptional items and tax 822.37 822.37
4 Exceptional items 0.00 0.00
5 Total profit before tax 822.37 822.37
6 Tax expense
7 Current tax 110.44 110.44
8 Deferred tax 0.30 0.30
9 Total tax expenses 110.74 110.74
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 711.63 711.63
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 (12.99) (12.99)
16 Total profit (loss) for period 698.64 698.64
17 Other comprehensive income net of taxes 95.52 95.52
18 Total Comprehensive Income for the period 794.16 794.16
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 698.95 698.95
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 95.51 95.51
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 1,771.39 1,771.39
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 3.94 3.94
Diluted earnings (loss) per share from continuing operations 3.94 3.94
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 3.94 3.94
Diluted earnings (loss) per share from continuing and discontinued operations 3.94 3.94
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. These Consolidated Financial Results for the quarter ended September 30, 2025 are in compliance with Indian Accounting Standards ('IND AS) as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and in terms of Regualtion 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 2. During the period, the Company incurred share issue expenses of Rs.1,07,75,230.86, which were adjusted against the Securities Premium Account, in accordance with Section 52 of the Companies Act, 2013 and the requirements of Ind AS 32. 3. The Company has written off provisions relating to the previous period (March 2025) amounting to Rs.14,63,196.23 through Retained Earnings / Reserve & Surplus, based on management’s assessment that these provisions are no longer required. 4. The Statement of Profit and Loss includes exchange rate fluctuation income of Rs.28,52,942.10 relating to Custom Duty Security and Rs.78,25,468.00 relating to Foreign Debtors, recognised in accordance with Ind AS 21 – The Effects of Changes in Foreign Exchange Rates 5. The Company has recognised Expected Credit Loss (ECL) of Rs.25,08,319.56 during the period in accordance with the impairment requirements of Ind AS 109 – Financial Instruments. 6. Other Comprehensive Income includes a fair value gain of Rs.90,45,027.00 on investments classified under FVOCI, recognised in accordance with Ind AS 109 7. The above-mentioned results were reviewed by Audit Committee and thereafter approved and taken on record by the meeting of Board of Directors of the Company held on November 20, 2025. These results have been subjected to limited review by the statutory auditors of the Company. 8. Management has represented that all information necessary for the purpose of the limited review has been provided and that the financial results are complete and accurate to the best of their knowledge. They have further confirmed that the accounting treatments adopted comply with the applicable provisions of Ind AS as prescribed under Section 133 of the Companies Act, 2013 9. The company operates in a single reportable segment. 10. Previous year figures have been regrouped/ rearranged whenever necessary to confirm to current year figures in order to comply with the requirements of the amended Schedule III to the Companies Act, 2013 effective April 01, 2021.



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 Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 3,578.65
Capital work-in-progress 0.00
Investment property 12.35
Goodwill 0.00
Other intangible assets 26.68
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 1,262.94
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 0.00
Total non-current financial assets 1,262.94
Deferred tax assets (net) 0.00
Other non-current assets 564.60
Total non-current assets 5,445.22
2 Current assets
Inventories 6,686.53
Current financial asset
Current investments 0.00
Trade receivables, current 2,483.24
Cash and cash equivalents 103.88
Bank balance other than cash and cash equivalents 524.61
Loans, current 548.10
Other current financial assets 0.00
Total current financial assets 3,659.83
Current tax assets (net) 0.00
Other current assets 1,635.51
Total current assets 11,981.87
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 17,427.09
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,771.39
Other equity 5,634.95
Total equity attributable to owners of parent 7,406.34
Non controlling interest 0.00
Total equity 7,406.34
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 1,031.29
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 43.90
Total non-current financial liabilities 1,075.19
Provisions, non-current 0.00
Deferred tax liabilities (net) 151.95
Deferred government grants, Non-current 0.00
Other non-current liabilities 0.00
Total non-current liabilities 1,227.14
Current liabilities
Current financial liabilities
Borrowings, current 5,270.65
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 383.32
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 929.32
Total Trade payable 1,312.64
Other current financial liabilities 1,863.80
Total current financial liabilities 8,447.09
Other current liabilities 133.26
Provisions, current 0.00
Current tax liabilities (Net) 213.26
Deferred government grants, Current 0.00
Total current liabilities 8,793.61
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 10,020.75
Total equity and liabilites 17,427.09
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 Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
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 Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Income tax expense / (benefit) related to items that will not be reclassified to Profit and loss -170000 -170000
Total Amount of items that will not be reclassified to profit and loss (1.70)
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
1 Valuation of Gratuity 677000 677000
2 Gain /(Loss) on Investments designated through OCI 9045000 9045000
Total Amount of items that will be reclassified to profit and loss 97.22
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 95.52 95.52



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 Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 822.37
Adjustments for reconcile profit (loss)
Adjustments for finance costs 0.00
Adjustments for decrease (increase) in inventories (660.98)
Adjustments for decrease (increase) in trade receivables, current 51.72
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (641.38)
Adjustments for decrease (increase) in other non-current assets 12.79
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 (249.19)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (15.20)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 193.60
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 6.77
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 481.21
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 (9.90)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (122.59)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (953.15)
Net cash flows from (used in) operations (130.78)
Dividends received 0.00
Interest paid (316.05)
Interest received (37.50)
Income taxes paid (refund) 2.24
Other inflows (outflows) of cash (0.66)
Net cash flows from (used in) operating activities 144.87
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 19.85
Purchase of property, plant and equipment 152.12
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 37.50
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.66
Net cash flows from (used in) investing activities (94.11)
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 393.52
Repayments of borrowings 111.98
Payments of lease liabilities 10.79
Dividends paid 0.00
Interest paid 316.05
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (45.30)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 5.46
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 5.46
Cash and cash equivalents cash flow statement at beginning of period 623.04
Cash and cash equivalents cash flow statement at end of period 628.50





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Unaudited
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 Vinay & Associates Yes 30-09-2028