Integrated Filing — IndAS



General information about company

Scrip Code 532989
NSE Symbol BAFNAPH
MSEI Symbol NOTLISTED
ISIN INE878I01022
Name of company BAFNA PHARMACEUTICALS LIMITED
Type of company Main Board
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 11-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 05-02-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
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 Unaudited
Segment Reporting Single segment
Description of single segment Pharmaceuticals
Start date and time of board meeting 11-02-2026   15:00:00
End date and time of board meeting 11-02-2026   16:30:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable
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 on repayment of Loans and Debt Securities.



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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 3,828.58 10,837.80
Other income 121.94 299.46
Total income 3,950.52 11,137.26
2 Expenses
(a) Cost of materials consumed 2,399.82 6,074.23
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (179.01) (313.06)
(d) Employee benefit expense 534.52 1,647.56
(e) Finance costs 86.24 263.21
(f) Depreciation, depletion and amortisation expense 157.00 441.26
(f) Other Expenses
1 Manufacturing Expenses 505.95 1,513.53
2 Other Expenses 262.31 675.47
Total other expenses 768.26 2,189.00
Total expenses 3,766.83 10,302.20
3 Total profit before exceptional items and tax 183.69 835.06
4 Exceptional items 0.00 0.00
5 Total profit before tax 183.69 835.06
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 0.00 0.00
9 Total tax expenses 0.00 0.00
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 183.69 835.06
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 183.69 835.06
17 Other comprehensive income net of taxes (4.62) (13.87)
18 Total Comprehensive Income for the period 179.07 821.19
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 2,365.63 2,365.63
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 0.78 3.53
Diluted earnings (loss) per share from continuing operations 0.78 3.53
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 0.78 3.53
Diluted earnings (loss) per share from continuing and discontinued operations 0.78 3.53
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) Notes 1. The above unaudited financial results for the quarter and nine months ended 31st December 2025 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company at their meeting held on 11th February 2026. The statutory auditors have conducted a Limited Review of these financial results in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 2. The figures for the quarter ended 31st December 2025 and preceding quarter ended 31st December 2024 are the balancing figures between the unaudited year to date figures for nine months ended 31st December and the unaudited published figures for the half year ended 30th September of the respective financial years. The figures for the corresponding previous periods have been regrouped and reclassified wherever necessary, to make them comparable. 3. The above results have been prepared in accordance with Indian Accounting Standard 34 Interim Financial Reporting (Ind AS 34) prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 4. Company's business relates to the manufacturing of pharmaceuticals formations, which in context of Indian Accounting Standards 108 (Ind AS 108) as notified under Section 133 of the Companies Act, 2013 is considered as the only segment. 5. Exceptional items for the year ended 31st March 2025 represents the following (a) Derecognition of certain inventory items amounting to INR 37.56 Lakhs (b) Derecognition of Intangible Asset under Development amounting to INR 177 Lakhs. The management has derecognised the Intangible Asset under Development as it does not foresee that any future economic benefit would accrue to the Company in respect of the expenditure incurred in the earlier financial years towards obtaining certain product registrations. 6. The Company has received orders from the Goods and Services Tax authorities, including a demand order raising a GST liability amounting to INR 235.47 Lakhs and another order issued by the Joint Commissioner towards recovery of GST refunds availed during earlier years amounting to INR 331.09 Lakhs, along with applicable interest and penalty. The Company has preferred an appeal against the GST demand of INR 235.47 Lakhs and in respect of the recovery of GST refunds, intends to prefer an appeal and/or file a writ petition before the appropriate authorities within the prescribed timelines. Based on the underlying facts of the cases, applicable legal provisions, judicial precedents and prevailing industry practices, the Company is confident of prevailing against the positions adopted by the GST authorities and accordingly, does not anticipate any adverse financial outcome. 7. The Government of India has enacted four labour codes by consolidating 29 existing labour laws which have become effective from November 21, 2025. Based on an initial assessment carried out by the Company in accordance with the guidance issued by the Institute of Chartered Accountants of India and considering the information currently available, there is no incremental impact of the Labour Code on the Company.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


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 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
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 4.62 13.87
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 0.00 0.00
5 Total Other comprehensive income (4.62) (13.87)