Integrated Filing — IndAS

General information about company

Scrip Code	523384
NSE Symbol	MAHAPEXLTD
MSEI Symbol	NOTLISTED
ISIN	INE843B01013
Name of company	MAHA RASHTRA APEX CORPORATION 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	26-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	18-05-2026
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
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	Audited
Segment Reporting	Single segment
Description of single segment	other financial activities
Start date and time of board meeting	26-05-2026 12:00:00
End date and time of board meeting	26-05-2026 16:30:00
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	Statement on impact of audit qualification
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	NA
(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.	NA
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	10-02-2025
Indicate Company website link for updated RPT policy of the Company	https://www.maharashtraapex.com/related-party-disclosure.html
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
Not Applicable

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	01-01-2026	01-04-2025
B	Date of end of reporting period	31-03-2026	31-03-2026
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
1	Income
	Revenue from operations	5.77	214.09
	Other income	23.81	222.51
	Total income	29.58	436.60
2	Expenses
(a)	Cost of materials consumed	0.00	0.00
(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	22.79	74.73
(e)	Finance costs	0.00	0.00
(f)	Depreciation, depletion and amortisation expense	1.32	4.82
(f)	Other Expenses
1	Other Expenses	18.86	89.44
	Total other expenses	18.86	89.44
	Total expenses	42.97	168.99
3	Total profit before exceptional items and tax	(13.39)	267.61
4	Exceptional items	8.79	62.79
5	Total profit before tax	(4.60)	330.40
6	Tax expense
7	Current tax	51.17	83.17
8	Deferred tax	0.00	0.00
9	Total tax expenses	51.17	83.17
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	(55.77)	247.23
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	(55.77)	247.23
17	Other comprehensive income net of taxes	(425.78)	(1,102.27)
18	Total Comprehensive Income for the period	(481.55)	(855.04)
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	1,409.19	1,409.19
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve		42,737.07
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	-0.4	1.93
	Diluted earnings (loss) per share from continuing operations	-0.4	1.93
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	-0.4	1.93
	Diluted earnings (loss) per share from continuing and discontinued operations	-0.4	1.93
24	Debt equity ratio	0	0
25	Debt service coverage ratio	0	0
26	Interest service coverage ratio	0	0
27	Disclosure of notes on financial results

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		31-03-2026
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	12.56
	Capital work-in-progress	0.00
	Investment property	213.85
	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	49,255.67
	Trade receivables, non-current	0.00
	Loans, non-current	0.00
	Other non-current financial assets
1	Non-Current Tax Asset	375.29
	Total of other non-current financial assets	375.29
	Total non-current financial assets	49,630.96
	Deferred tax assets (net)
	Other non-current assets
1	Other non-current assets	9.28
	Total of other non-current assets	9.28
	Total non-current assets	49,866.65
2	Current assets
	Inventories	0.00
	Current financial asset
	Current investments	0.00
	Trade receivables, current	0.00
	Cash and cash equivalents	0.00
	Bank balance other than cash and cash equivalents	7.89
	Loans, current	0.00
	Other current financial assets
	Total of other current financial assets	2,047.41
	Total current financial assets	2,055.30
	Current tax assets (net)	0.00
	Other current assets
	Total of other current assets
	Total current assets	2,055.30
3	Non-current assets classified as held for sale	34.43
4	Regulatory deferral account debit balances and related deferred tax Assets	0.00
	Total assets	51,956.38
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	1,411.78
	Other equity	42,737.07
	Total equity attributable to owners of parent	44,148.85
	Non controlling interest
	Total equity	44,148.85
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	0.00
	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
1	Other financial laibilities	4,507.53
	Total of other non-current financial liabilities	4,507.53
	Total non-current financial liabilities	4,507.53
	Provisions, non-current	0.00
	Deferred tax liabilities (net)	0.00
	Deferred government grants, Non-current	0.00
	Other non-current liabilities
	Total of other non-current liabilities
	Total non-current liabilities	4,507.53
	Current liabilities
	Current financial liabilities
	Borrowings, current	0.00
	Trade payables, 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 current financial liabilities
	Total of other current financial liabilities
	Total current financial liabilities	0.00
	Other current liabilities
	Total of other current liabilities
	Provisions, current	0.00
	Current tax liabilities (Net)	0.00
	Deferred government grants, Current	0.00
	Total current liabilities	0.00
3	Liabilities directly associated with assets in disposal group classified as held for sale	3,300.00
4	Regulatory deferral account credit balances and related deferred tax liability	0.00
	Total liabilities	7,807.53
	Total equity and liabilites	51,956.38
	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		01-01-2026	01-04-2025
Date of end of reporting period		31-03-2026	31-03-2026
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	01-01-2026	01-04-2025
B	Date of end of reporting period	31-03-2026	31-03-2026
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
1	OCI	(425.78)	(1,102.27)
	Total Amount of items that will not be reclassified to profit and loss	(425.78)	(1,102.27)
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
	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	(425.78)	(1,102.27)

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		31-03-2026
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		330.40
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs		0.59
	Adjustments for decrease (increase) in inventories		0.00
	Adjustments for decrease (increase) in trade receivables, current		0.00
	Adjustments for decrease (increase) in trade receivables, non-current		0.00
	Adjustments for decrease (increase) in other current assets		1.61
	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		(275.00)
	Adjustments for other bank balances		0.00
	Adjustments for increase (decrease) in trade payables, current		0.00
	Adjustments for increase (decrease) in trade payables, non-current		0.00
	Adjustments for increase (decrease) in other current liabilities		(6.88)
	Adjustments for increase (decrease) in other non-current liabilities		0.00
	Adjustments for depreciation and amortisation expense		4.82
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss		0.00
	Adjustments for provisions, current		(1.72)
	Adjustments for provisions, non-current		0.00
	Adjustments for other financial liabilities, current		0.00
	Adjustments for other financial liabilities, non-current		0.00
	Adjustments for unrealised foreign exchange losses gains		0.00
	Adjustments for dividend income		150.56
	Adjustments for interest income		5.70
	Adjustments for share-based payments		0.00
	Adjustments for fair value losses (gains)		(1,105.13)
	Adjustments for undistributed profits of associates		0.00
	Other adjustments for which cash effects are investing or financing cash flow		(0.10)
	Other adjustments to reconcile profit (loss)		(26.39)
	Other adjustments for non-cash items		(1.80)
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships		0.00
	Total adjustments for reconcile profit (loss)		(1,566.26)
	Net cash flows from (used in) operations		(1,235.86)
	Dividends received		0.00
	Interest paid		0.00
	Interest received		0.00
	Income taxes paid (refund)		26.17
	Other inflows (outflows) of cash		(0.99)
	Net cash flows from (used in) operating activities		(1,263.02)
	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		0.00
	Purchase of property, plant and equipment		5.92
	Proceeds from sales of investment property		1,105.13
	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		150.56
	Interest received		5.70
	Income taxes paid (refund)		0.00
	Other inflows (outflows) of cash		0.00
	Net cash flows from (used in) investing activities	1,255.47
	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		0.00
	Repayments of borrowings		0.00
	Payments of lease liabilities		0.00
	Dividends paid		0.00
	Interest paid		0.00
	Income taxes paid (refund)		0.00
	Other inflows (outflows) of cash		0.00
	Net cash flows from (used in) financing activities		0.00
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes		(7.55)
	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		(7.55)
	Cash and cash equivalents cash flow statement at beginning of period		22.08
	Cash and cash equivalents cash flow statement at end of period		14.53

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	Statement on impact of audit qualification
Auditor's opinion	Qualified 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

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	H G Sarvaiya & Co.	Yes	31-03-2029

Financial details

Amount in (Lakhs)

Sr.	Particulars	Audited Figures (as reported before adjusting for qualifications)	Adjusted Figures (audited figures after adjusting for qualifications)
1	Turnover / Total income	436.60	436.60
2	Total Expenditure	168.99	216.90
3	Net Profit/(Loss)	(830.66)	(878.51)
4	Earnings Per Share	1.93	1.58
5	Total Assets	51,956.38	51,956.38
6	Total Liabilities	51,956.38	51,956.38
7	Net Worth	42,737.07	42,689.16

Audit qualification

Amount in (Lakhs)

Sr.	Details of Audit Qualification	Type of Audit Qualification	Frequency of qualification	For Audit Qualification(s) where the impact is quantified by the auditor	For Audit Qualification(s) where the impact is not quantified by the auditor
Sr.	Details of Audit Qualification	Type of Audit Qualification	Frequency of qualification	Management's Views	(i) Management's estimation on the impact of audit qualification	(ii) If management is unable to estimate the impact, reasons for the same	Auditors' Comments on (i) or (ii) above
1	Textual Information(1)	Qualified opinion	Repetitive	Textual Information(2)	Textual Information(3)	Textual Information(4)	Textual Information(5)

Text Block

Textual Information(1)	Company has not provided fordelayed period interest cost on deposit amounting to Rs.47.91 lakhs for the year ending 31st March 2026 and Rs. 11.95 lakhs for the quarter ending 31st March 2026, cumulative impact of interest cost not provided from October 2019 to 31.03.2026 is Rs. 381.67lakhs. To that extent profit is overstated and liability is understated
Textual Information(2)	Interest is required to be provided for delays, if any, by the Company in payment of instalment. So, interest was provided up to 30th September, 2019. The Management decided not to provide interest after 1st October, 2019 as there was a Public notice issued by the Company in News Paper on 14th May, 2019 to the Bond & Deposit holders to surrender their Certificates and collect their final instalment dues. The public notice conveys that Company is ready to pay and, therefore, no further delay and, therefore, no delayed period interest need to be provided. n n
Textual Information(3)	NA
Textual Information(4)	NA
Textual Information(5)	NA

Signatories detail

Name of CEO / Managing director	Aspi Nariman Katgara
Name of CFO	Jamsheed M Panday
Name of audit committee chairman	Jyothi V B
Name of statutory auditor	Hasmukhbhai G Sarvaiya
Name of other signatory, if any, with designation
Place	Bengaluru
Date	26-05-2026

Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)

	Name	Name	Relationship of the counterparty with the listed entity or its subsidiary	Type of related party transaction	Details of other related party transaction		Remarks on approval by audit committee			Value of transaction during the reporting period	Opening balance	Closing balance	Nature of indebtedness (loan/ issuance of debt/ any other etc.)	Details of other indebtedness	Nature (loan/ advance/ intercorporate deposit/ investment )	Notes
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
1	Maha Rashtra Apex Corporation Limited	KUDI BHOJA SHETTY	Chairman-Non-Executive Director	Any other transaction	Sitting Fees		NA			0.08	0.00	0.00
2	Maha Rashtra Apex Corporation Limited	ASPI NARIMAN KATGARA	Managing Director	Remuneration			NA			5.37	0.00	0.00
3	Maha Rashtra Apex Corporation Limited	JYOTHI VISHWESHWARAIAH BHADRAVATHI	Independent Director	Any other transaction	Sitting Fees		NA			0.08	0.00	0.00
4	Maha Rashtra Apex Corporation Limited	YAZDIN JIMMY MISTRY	Non-Executive Director	Any other transaction	Sitting Fees		NA			0.06	0.00	0.00
5	Maha Rashtra Apex Corporation Limited	VIDYA MANANJAY MORE	Independent Director	Any other transaction	Sitting Fees & Professional Fees		NA			1.26	0.00	0.00
6	Maha Rashtra Apex Corporation Limited	NAGARAJAN SIVARAMAKRISHNAN	Independent Director	Any other transaction	Sitting Fees		NA			0.02	0.00	0.00
7	Maha Rashtra Apex Corporation Limited	JAMSHEED M PANDAY	Company Secretary & CFO	Remuneration			NA			0.03	0.00	0.00
8	Maha Rashtra Apex Corporation Limited	Kanara Consumer Products Ltd.	Associate Company	Dividend received			NA			150.33	0.00	0.00
9	Maha Rashtra Apex Corporation Limited	Maharashtra Asset Management Company Ltd	Subsidiary	Any other transaction	Service Charges Received		NA			0.48	115.52	115.04
Total value of transaction during the reporting period										157.71