Integrated Filing — IndAS



General information about company

Scrip Code 512531
NSE Symbol STCINDIA
MSEI Symbol NOTLISTED
ISIN INE655A01013
Name of company THE STATE TRADING CORPORATION OF INDIA 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 25-08-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 11-08-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Half Yearly
Reporting Quarter 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 Audited
Segment Reporting Geographical
Description of single segment
Start date and time of board meeting 25-08-2026   11:00:00
End date and time of board meeting 25-08-2026   18:30:00
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 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. 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 07-02-2025
Indicate Company website link for updated RPT policy of the Company WWW.STCLIMITED.CO.IN
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? Yes



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 31-03-2026 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 0.00 0.00
Other income 2,559.54 9,621.92
Total income 2,559.54 9,621.92
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 524.79 2,474.72
(e) Finance costs 53.84 203.49
(f) Depreciation, depletion and amortisation expense 0.00 0.00
(f) Other Expenses
1 OTHER EXPENSES 623.11 1,939.32
Total other expenses 623.11 1,939.32
Total expenses 1,201.74 4,617.53
3 Total profit before exceptional items and tax 1,357.80 5,004.39
4 Exceptional items (2.71) 60,618.45
5 Total profit before tax 1,355.09 65,622.84
6 Tax expense
7 Current tax 362.30 1,776.80
8 Deferred tax 0.00 (708.27)
9 Total tax expenses 362.30 1,068.53
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 992.79 64,554.31
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 992.79 64,554.31
17 Other comprehensive income net of taxes 652.67 652.67
18 Total Comprehensive Income for the period 1,645.46 65,206.98
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 6,000.00 6,000.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve (33,164.14)
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 2.74 108.68
Diluted earnings (loss) per share from continuing operations 2.74 108.68
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 2.74 108.68
Diluted earnings (loss) per share from continuing and discontinued operations 2.74 108.68
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) THE FACE VALUE OF EQUITY SHARE CAPITAL IS rS 10/- ONLY OTHER EQUITY EXCLUDING REVALUATION RESERVE FOR THE fy 2025-2026 S (RS 33164.14)



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 0.00
Capital work-in-progress
Investment property
Goodwill 0.00
Other intangible assets 0.00
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current
Loans, non-current 0.00
Other non-current financial assets
Total of other non-current financial assets
Total non-current financial assets 0.00
Deferred tax assets (net)
Other non-current assets
Total of other non-current assets
Total non-current assets 0.00
2 Current assets
Inventories 2.08
Current financial asset
Current investments 1.04
Trade receivables, current 1,07,194.23
Cash and cash equivalents 4.44
Bank balance other than cash and cash equivalents 0.00
Loans, current 226.40
Other current financial assets
Total of other current financial assets 17,416.20
Total current financial assets 1,24,842.31
Current tax assets (net) 1,109.04
Other current assets
1 Other current assets 8,368.05
Total of other current assets 8,368.05
Total current assets 1,34,321.48
3 Non-current assets classified as held for sale 86,801.71
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 2,21,123.19
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 6,000.00
Other equity 54,978.16
Total equity attributable to owners of parent 60,978.16
Non controlling interest
Total equity 60,978.16
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
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities
Total of other non-current financial liabilities
Total non-current financial liabilities 0.00
Provisions, non-current 0.00
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 0.00
Current liabilities
Current financial liabilities
Borrowings, current 176.10
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 1,09,879.53
Total Trade payable 1,09,879.53
Other current financial liabilities
1 Other current financial liabilities 34,866.80
Total of other current financial liabilities 34,866.80
Total current financial liabilities 1,44,922.43
Other current liabilities
Total of other current liabilities
Provisions, current 14,196.24
Current tax liabilities (Net) 1,026.36
Deferred government grants, Current
Total current liabilities 1,60,145.03
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 1,60,145.03
Total equity and liabilites 2,21,123.19
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 01-10-2025 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)
1 EXPORT 0.00 0.00
2 IMPORT 0.00 0.00
3 DOMESTIC 0.00 0.00
Total Segment Revenue 0.00 0.00
Less: Inter segment revenue
Revenue from operations 0.00 0.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 EXPORT 0.00 0.00
2 IMPORT 0.00 0.00
3 DOMESTIC 0.00 0.00
Total Profit before tax 0.00 0.00
i. Finance cost 53.84 203.49
ii. Other Unallocable Expenditure net off Unallocable income (1,408.93) (65,826.33)
Profit before tax 1,355.09 65,622.84
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 EXPORT 9,272.64 9,272.64
2 IMPORT 99,901.80 99,901.80
3 DOMESTIC 0.00 0.00
Total Segment Asset 1,09,174.44 1,09,174.44
Un-allocable Assets 1,11,948.75 1,11,948.75
Net Segment Asset 2,21,123.19 2,21,123.19
4 Segment Liabilities
Segment Liabilities
1 EXPORT 10,607.55 10,607.55
2 IMPORT 1,01,945.76 1,01,945.76
3 DOMESTIC 0.00 0.00
Total Segment Liabilities 1,12,553.31 1,12,553.31
Un-allocable Liabilities 47,591.72 47,591.72
Net Segment Liabilities 1,60,145.03 1,60,145.03
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 31-03-2026 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
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 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 (652.67) (652.67)
5 Total Other comprehensive income 652.67 652.67



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 65,622.84
Adjustments for reconcile profit (loss)
Adjustments for finance costs 0.00
Adjustments for decrease (increase) in inventories 2.09
Adjustments for decrease (increase) in trade receivables, current 11,002.30
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
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 (724.25)
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 0.00
Adjustments for depreciation and amortisation expense 0.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
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 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 (70,045.13)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (59,764.99)
Net cash flows from (used in) operations 5,857.85
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 690.14
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 5,167.71
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 0.00
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 667.24
Income taxes paid (refund) 2,335.11
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities (1,667.87)
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 (19,823.90)
Net cash flows from (used in) financing activities (19,823.90)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (16,324.06)
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 (16,324.06)
Cash and cash equivalents cash flow statement at beginning of period 23,969.62
Cash and cash equivalents cash flow statement at end of period 7,645.56





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 PVAR & ASSOCIATES Yes 29-02-2028


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 9,621.92 1,19,501.45
2 Total Expenditure 4,617.53 1,19,846.49
3 Net Profit/(Loss) 5,004.39 (345.04)
4 Earnings Per Share 108.68 -0.58
5 Total Assets 2,21,123.19 3,31,002.72
6 Total Liabilities 1,60,145.03 2,75,373.99
7 Net Worth (27,164.14) (32,513.57)


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
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)
2 Textual Information(6) Qualified opinion Repetitive Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)
3 Textual Information(11) Qualified opinion Repetitive Textual Information(12) Textual Information(13) Textual Information(14) Textual Information(15)
4 Textual Information(16) Qualified opinion Repetitive Textual Information(17) Textual Information(18) Textual Information(19) Textual Information(20)
5 Textual Information(21) Qualified opinion Repetitive Textual Information(22) Textual Information(23) Textual Information(24) Textual Information(25)
6 Textual Information(26) Qualified opinion Repetitive Textual Information(27) Textual Information(28) Textual Information(29) Textual Information(30)
7 Textual Information(31) Qualified opinion Repetitive Textual Information(32) Textual Information(33) Textual Information(34) Textual Information(35)
8 Textual Information(36) Qualified opinion Repetitive Textual Information(37) Textual Information(38) Textual Information(39) Textual Information(40)
9 Textual Information(41) Qualified opinion Repetitive Textual Information(42) Textual Information(43) Textual Information(44) Textual Information(45)
10 Textual Information(46) Qualified opinion Repetitive Textual Information(47) Textual Information(48) Textual Information(49) Textual Information(50)
11 Textual Information(51) Qualified opinion Repetitive Textual Information(52) Textual Information(53) Textual Information(54) Textual Information(55)


Text Block

Textual Information(1) i. Refer to Note No.4(a) of Standalone Financial Statements, non-availability of title deeds in the name of the company in respect
of following properties namely:

a) Leasehold Building
i.Leasehold land at Jawahar Vyapar Bhawan valued at Rs. 55,929 lacs
ii.Leasehold land at Housing Colony at Aurobindo Marg valued at Rs. 12,394 lacs

b) Freehold Building
i.8 Residential Flats at Asian Games Village Complex, allotted by DDA amounting to Rs. 2720 lacs
ii.7 apartments in different locations of Mumbai amounting to Rs. 1918 lacs
iii.Flats at Ahmedabad

Further, lease period for plot at Mallet Bunder, Mumbai Port Trust has already expired and the land has been handed over to
Mumbai Port Trust. Surrender certificate has been executed on 12.11.2021. But this still continues to be shown as non-current
assets held for sale. Thus, non- current assets held for sale has been overstated by Rs. 11.67 lacs. It will also have consequential
impact on the Statement of Profit and Loss account resulting into overstatement of profit by Rs. 11.67 lacs.

Further the farm tanks installed at Mallet Bunder amounting to Rs. 14.84 lacs have also been handed over on as is where is basis.
The company has not raised any debit note for the same and thus non-current assets are being overstated by Rs. 14.84 lacs.
Further to this, reconciliation has been done at STC of its accounts with MBPT and determined that a net amount of Rs. 161 lacs
are recoverable from MBPT after adjusting lease rent dues of Rs. 257 lacs against total recoveries of Rs. 419 lacs (comprising
sale proceeds of STC surrendered assets by MBPT, EMD and deposits). This was communicated to MBPA for their confirmation
through STC letter dated 29.10.2025, followed by reminders on 10.02.2026, 26.03.2026 and 21.05.2026. However, MBPT’s
confirmation is still awaited. Refer Note 57.
Further, company has not amortized the value of the leasehold properties according to the IND AS 116 for the period expired till
31.03.2026 resulting into overstatement of non-current assets held for sale and consequential impact on profit of the company, the
amount whereof could not be quantified in absence of complete data from the Company.
Textual Information(2) Title/Lease deed in respect of following properties is pending for execution:-
i.Leasehold Land:-
Lease hold land includes land measuring 2.599 acres allotted by L&DO vide “Memorandum of Agreement for Lease” dated 05.12.1975
for construction of office building i.e. JawaharVyaparBhawan at Janpath, New Delhi for which lease deed is not yet executed in the
name of the Company.
Leasehold land includes a plot at Mallet Bunder, Mumbai Port Trust (where STC has a Tank Farm Installation) for which lease period
has expired and the surrender certificate has been executed on 12.11.2021.The tanks installed at Mallet Bunder has been surveyed by
the MbPT and assets handed over on as is where is basis with an understanding that the value of the same shall be adjusted and paid
to STC. Hence, appropriate treatment will be effected upon arrival of such valuation.
ii.Freehold Building:-
Freehold Building includes house building at Asian Games Village Complex (AGVC) allotted by DDA vide allotment letter dated
30.05.1984.
Free hold building includes 7 apartments in Mumbai (Located 2 at Wallace Apartment Grant Road , 3 at Mandar Apartment, 1 at
Shyamsadan at Khar (West) and 1 at Las Palmas, Malabar hills).
STC had a lease on a plot of land at Mallet Bunder belonging to MBPT, which expired on 17.10.2016. STC initially sought an extension
of the lease but later decided to surrender the plots due to a decision to non-viability and stopping trade activities. Subsequently, the
said plot was surrendered and surrender certificate was executed on 12.11.2021. MBPT had filed two cases against STC before the
H’ble estate officer, but they were withdrawn after a meeting between the two parties, and outstanding issues/ disputes (if any) shall be
resolved under the provisions of AMRCD mechanism. The assets handed over to MBPT installed at Mallet Bunder have been surveyed
by MBPT, and the value of the Tank farms, machinery way leave, pipelines and other assets will be adjusted against outstanding dues
of STC. As per the opinion of legal counsel and GST consultant, STC is liable to pay differential rent i.e. after adjustment of amount paid
by STC against the compensation for the use of occupation beyond the lease period to the tune of Rs. 9.20 lac per mensem as per
clause no. 24 of the lease agreement dated 30.07.1984 along with applicable GST.
Accordingly, reconciliation has been done at STC of its accounts with MBPT and determined that a net amount of Rs. 161 lacs is
recoverable from MBPT after adjusting lease rent dues of Rs. 257 lacs against total recoveries of Rs. 419 lacs (comprising sale
proceeds of STC surrendered assets by MBPT, EMD and deposits). This was communicated to MBPT for their confirmation through
STC letter dated 29.10.2025, followed by reminders on 10.02.2026, 26.03.2026 and 21.05.2026. Howeer, MBPT’s confirmation is still
awaited.
Textual Information(3) NA
Textual Information(4) NA
Textual Information(5) NA
Textual Information(6) Refer Note No. 4, for non-adjustment of value/area in Fixed Assets Register against areas acquired by Delhi Metro Rail
Corporation (DMRC) for construction of Metro Station & by L&DO for widening of the Road during Asian Games, as well as the
flats/area of land sold by the company to The Handicrafts and Handloom Exports Corporation of India Limited (HHEC) for its
Housing colony. Management is in correspondence with DMRC and concerned departments.
This has resulted into overstatement of non-current assets held for sale and consequential impact on profit of the company, the
amount whereof could not be quantified in absence of complete data from the Company.
Textual Information(7) 325.685 square meters taken by NDMC for widening of roads during Asian Games and 388.91 square meters taken by DMRC for
construction of Metro / Metro Station out of the total leasehold land allotted by L&DO to STC for construction of office building at
(Jawahar Vyapar Bhawan) Tolstoy Marg, Janpath, New Delhi. The Company has taken up the matter with L&DO for reduction of
both the area and the records will be updated in Fixed Assets register/Schedule in respect of its area & value once the final
outcome in the matter is arrived at. The efforts are being made with L&DO in this regard on regular basis.
Textual Information(8) NA
Textual Information(9) NA
Textual Information(10) NA
Textual Information(11) All trade receivables amounting to 1,69,921.85 lacs as per Note No. 9 have been outstanding for more than 3 years. The
Company has made provision for bad and doubtful debts amounting to Rs. 62,727.62 lacs and another sum of Rs. 1,07,194.23
lacs have been shown as “Having Significant increase in credit risk” since the same is under litigation. As per Note No.9, it is
explained that no provision has been made for the same since the relevant creditors will be paid only after recovery of these trade
receivables, though in most of the cases agreements are not tripartite.
Further there has been no recovery during the Financial Year 2025-26 and there is no major update of legal cases which are
pending at various forums. Thus trade receivable are not stated at realizable value less cost to be incurred to recover these trade
receivables. There is also no balance confirmation available for these trade receivables as on 31.03.2026 and hence we are
unable to comment upon the genuineness and effect of the same on the financial statements, if any.
We are of the view that all trade receivables amounting to 1,69,921.85 lacs are considered doubtful of recovery resulting into short
provision for doubtful debts amounting to Rs. 1,07,194.23 lacs. Thus the provision for bad and doubtful debts has been
understated by Rs. 1,07,194.23 lacs and consequential impact on the statement of profit and Loss account resulting into
overstatement of profit by Rs. 1,07,194.23 lacs.
Further in case of M/s Rajat Pharmaceuticals Ltd (RPL), under note no.39, Pt.No.4, who drew bills of exchange on STC which
were accepted upon receipt of overseas buyer’s pre-acceptance to STC's bills of exchange. However, the foreign buyers defaulted
in making payments against the export bills and have gone into liquidation. A sum of Rs.52786 lacs has been admitted by the
liquidator of one of the foreign buyer’s i.e. Loben Trading Co. Pte. Ltd, Singapore. A Decree of Rs 6247 lacs approx. has been
passed by Hon’ble Bombay High Court in favour of STC against the dues from another foreign buyer i.e Sweetland Trading Pte
Ltd., Singapore. As of current date, RPL has gone into liquidation and official liquidator is appointed by Hon’ble High Court of
Bombay. The matter is also under investigation by CBI. Banks & Financial institutions have filed legal suit against RPL before
DRT/High Court Mumbai, making STC also a party to the case claiming Rs. 47647 lacs.
In the case of ICICI Bank Ltd. (Bank of Rajasthan Ltd.) v. The State Trading Corporation of India Ltd. & Ors related to M/s Rajat
Pharmaceuticals Ltd., As per final order dated 11.06.2025 passed by the Hon'ble Debts Recovery Tribunal-II, Delhi, STC has
been directed to deposit a sum of Rs. 2,655 lacs within 30 days from the date of order. However, STC has challenged the DRT,
Delhi Award and has filed an appeal before DRAT, Delhi on 25.07.2025. A conference was held with senior advocate and AOR
along with STC officials on 02.02.2026 wherein it was informed by advocate

that an important requirement is STC must deposit a portion of the debt due with the DRAT as a pre-deposit, usually 50% of the
award along with the interest. DRAT vide order dtd 21.04.2026, directed STC to deposit 40% of the amount as pre deposit within
30 days. STC on 20.05.2026, deposited DD of Rs 10.62 cr with DRAT as pre deposit. Next date of hearing in the matter is
13.08.2026.
STC has filed non-money claim suit before different Courts at Delhi & Mumbai for declaring Bills of Exchanges of STC as null and
void and unenforceable against STC which were conditionally accepted by STC on back-to-back basis i.e. STC will make
payment to Rajat/Banks only upon receipt of export proceeds from the foreign buyers.
STC had filed 272 Criminal Complaints u/s 138 of N.I Act in New Delhi in 2009 which were transferred from MM Court, Patiala
House District Court, New Delhi to the 33rd MM Court, Ballard Pier, Mumbai. Now the matters have been again transferred to
M.M. Court, Mazgaon, Bombay. STC is claiming an amount or Rs.45,635 lacs from M/s Rajat towards cheque bounce. Cases are
at the stage of issuing of summons/arguments on issuing of summons.
Also refer to Note No. 39, for matters other than RPL, as all these matters are sub-judice and/or under investigation of CBI and we
are unable to comment upon the genuineness and effect of the same on the Financial Statements.
Textual Information(12) Out of the total trade receivable of Rs. 1,69,921.85 lacs includes Rs. 1,07,194.23 lacs "having significant increase in credit risk" being
under dispute/litigation (for details of major legal cases refer note no. 39 ). Trade receivables against which dispute/legal proceedings
are under process, have been considered as “Having Significant increase in credit risk". The company feels that even if no amount
would eventually be recovered, no credit impairment is required for the credit risk since the creditor will be paid by the company only to
the extent the amount is realized from the debtors. However, Trade debtors & Creditors include various matters which are subjudice.
The amounts are not material in nature. The efeect if any shall be given at the time of final eventuality of the cases.
Trade receivables include 56,844 Lacs (approx.) on account of export of pharma products to foreign buyers purchase from M/s Rajat
Pharmaceuticals Ltd". (RPL). RPL drew bills of exchange on STC which were also accepted upon receipt of overseas buyer's pre-
acceptance to STC's bills of exchange. The foreign buyers i.e. M/s Loben Trading and M/s Sweetland defaulted in making payment
against the export bills. A claim of 52,786 Lacs has been admitted by the liquidator of one of the foreign buyer i.e. Loben Trading Co.Pte
Ltd, Singapore. A Decree of 6,247 Lacs has been passed by Hon'ble Mumbai High Court in favour of STC against the dues from foreign
buyer i.e. Sweetland Trading Pte Ltd. As of current date, RPL has gone into liquidation and official liquidator is appointed by Hon'ble
High Court Mumbai. The matter is also under investigation by CBI. No provision is required against the same. Banks & Financial
institutions have filed legal suit against RPL before DRT/High Court Mumbai making STC also a party to the case claiming 47,647 Lacs.
In the case of ICICI Bank Ltd. (Bank of Rajasthan Ltd.) v. The State Trading Corporation of India Ltd. & Ors related to M/s Rajat
Pharmaceuticals Ltd., As per final order dated 11.06.2025 passed by the Hon'ble Debts Recovery Tribunal-II, Delhi, STC has been
directed to deposit a sum of Rs. 2,655 lacs within 30 days from the date of order. However, STC has challenged the DRT, Delhi Award
and has filed an appeal before DRAT, Delhi on 25.07.2025. A conference was held with senior advocate and AOR along with STC
officials on 02.02.2026 wherein it was informed by advocate that an important requirement is STC must deposit a portion of the debt due
with the DRAT as a pre-deposit, usually 50% of the award along with the interest. DRAT vide order dtd 21.04.2026, directed STC to
deposit 40% of the amount as pre deposit within 30 days. STC on 20.05.2026, deposited DD of Rs 10.62 cr with DRAT as pre deposit.
Next date of hearing in the matter is 23.10.2026. STC has filed non-money claim suit before different Courts at Delhi & Mumbai for
declaring Bills of Exchanges of STC as null and void and unenforceable against STC which were conditionally accepted by STC on back
to back basis i.e STC will make payment to Rajat/Banks only upon receipt of export proceeds from the foreign buyers. STC had filed
272 Criminal Complaints u/s 138 of N.I Act in New Delhi in 2009 which were transferred from MM Court, Patiala House District Court,
New Delhi to the 33rd MM Court, Ballard Pier, Mumbai. Now the matters have been again transferred to M.M. Court, Mazgaon, Bombay.
STC is claiming an amount or Rs.45,635 lacs from M/s Rajat towards cheque bounce. Cases are at the stage of issuing of
summons/arguments on issuing of summons.
Textual Information(13) NA
Textual Information(14) NA
Textual Information(15) NA
Textual Information(16) Currently, as per books of accounts, USD 3,149.35 lacs and Euros 20.90 lacs is receivable from its foreign buyers and USD 41.49
lacs and Pound 0.04 lacs is payable to its foreign suppliers. In nutshell, there are foreign buyers and creditors standing in the
financials of STC which have not been revalued in the FY 2025-26.
Thus, the Company has not complied with Ind AS 21 (regarding Effects of Changes in Foreign Exchange) by not revaluing the
carrying amounts, in most cases, of foreign currency receivables and payables, which are under litigation/disputed.
Therefore, we are unable to ascertain the potential impact on the financial statements, if any.
Textual Information(17) Matters are subjudice considering materiality concept.
Textual Information(18) NA
Textual Information(19) NA
Textual Information(20) NA
Textual Information(21) Refer Note No. 14 -“Other Current Assets for non-provisioning in respect of Duties and taxes recoverable, CST (coal)
amounting to Rs. 6.89 lacs which is non recoverable and still not written off.
ii.Refer Note No. 11- Other Financial Assets -Claims Recoverable: For non-provisioning in respect of Claims Recoverable o/s
since more than 3 years amounting to Rs. 3192.14 lacs where no present status is ascertained by the management of the
Company and still not written off.
This is non-compliance of IND AS -36 as no provision has been made for impaired assets.
All these current assets are being reflected at their carrying amounts instead of on Realization values.
This has resulted into overstatement of Current assets by Rs. 3192.14 lacs and overstatement of profit by Rs. 3192.14 lacs.
Textual Information(22) Pending with various department and authorities
Textual Information(23) NA
Textual Information(24) NA
Textual Information(25) NA
Textual Information(26) Refer Note No. 38, for non-provision of a demand of Rs. 4,743 lacs out of total demand received from Land and Development
Office - New Delhi amounting to Rs. 13,283 lacs (for the period March,2004 to July, 2018) which has resulted in overstatement of
profit by Rs 4,743 lacs and understatement of liabilities. However, it has been shown as contingent liability. Also, company has not
provided for interest accruing on the said demand amount (to be calculated at the rate of 10%) approx. Profits are overstated and
liabilities are understated by the amount yet to be ascertained by Management.
The CAG conducted “Transaction Audit” during the FY 2025-2026 has intimated that non-payment to L&DO in respect of various
charges in violation of the agreement has resulted into avoidable / accumulation of Interest of Rs. 102.48 crore towards interest
(calculated @ 10 % p.a. on Rs.132.83 crore from 14 July 2018 up to 31 March 2026) which will further cumulate till final payment to
L&DO. Details of further updated demand, if any, received from L&DO were not found available in the records.
Further, Company has not ascertained liability/ provisional liability for Non-compliance of the various conditions of the Lease deed
(including non-deposit of 25% of the gross rent received by STC from its tenants) payable to L&DO for the period August 2018 to
March 2026, and the interest thereon. Amount is unascertained by the management. Profits are overstated and liabilities are
understated by the amount yet to be ascertained by Management.
Textual Information(27) Demand of Rs. 132.83 Crore was raised by L&DO vide its letter no. L&DDO/LS2A/9225/133 dated 26th March 2018 from 2004-05
onwards for non-compliance of various conditions of the Lease Deed (including non-deposits of 25% of the gross rent received by
STC from its tenants). However, the company has disputed the demand and the matter is yet to be resolved. On the observation
of CAinterG audit, the firm liability of Rs. 8,540 lacs has been created in the books of accounts for the F.Y. 2021-22. Further, STC
through its various letters has been regularly following up with L&DO for providing details of outstanding dues and the latest
reminder letter dated 28.04.2026 has been issued by STC requesting L&DO to provide details of outstanding dues, as on date
and the reply is still awaited.
Textual Information(28) NA
Textual Information(29) NA
Textual Information(30) NA
Textual Information(31) Refer Note No.21, All the trade payables amounting to Rs. 1,09,879.53 lacs are without any balance confirmation and are
outstanding for more than 3 financial years.
No amount is payable to these parties as these are suppliers who have entered into legal agreement with STC wherein no amount
is payable to them until and unless the amount is recovered from the buyer. Thus, the management has not accorded any
treatment to these trade payables and to that extent, liabilities are overstated.
Textual Information(32) Matters are subjudice
Textual Information(33) NA
Textual Information(34) NA
Textual Information(35) NA
Textual Information(36) Refer Note No.14, The GST input receivable and payable balances are not reconciled by the Company as on March 31,2026.
GST input Rs 54.97 lacs - non claimable but no provision has been made. Profit of the company is overstated by the same
amount.

TDS deducted will be reconciled with form 26AS at the time of submitting Income Tax return, as on the date of report the
complete information is not available. No provision has been made for TDS default of Rs 11.22 lacs pending, submission of
correction statements.
Textual Information(37) GSTNs & TANs of Representative office are under the process of surrender, accordingly the liability will be settled. Matter
pertaining to Corporate Office will be taken up in FY - 2026-27.
Textual Information(38) NA
Textual Information(39) NA
Textual Information(40) NA
Textual Information(41) nvestments (Refer Note No.8)
•STCL Limited (Subsidiary Company) : As confirmed by STC management “STCL Accounts for the FY 2025-26 signed by
GM- STCL were received in August 2026. Board Meeting of STCL for approving the accounts for financial year 2025-26 is yet
to take place.”
The availability/recovery of asset and/or write off could not be ascertained by the management.
•NSS Satpura Agro Development Company Ltd. (Joint Venture) : The company has been strike off as per MCA site.
However, still it is appearing in the books of accounts of STC India Limited. The availability/recovery of asset and/or write off
could not be ascertained by the management.
•Sea Lac Agro Ventures Limited: The latest financials of the JV are not available for verification. The availability/recovery of asset
and/or write off could not be ascertained by the management.
•Maharashtra Small Scale Industries Development: The latest financials of the JV are not available for verification. The
availability/recovery of asset and/or write off could not be ascertained by the management.
•Andhra Pradesh Trade Promotion Corporation Limited: The latest financials of the JV are not available for verification. The
availability/recovery of asset and/or write off could not be ascertained by the management.
•Sindhu Resetttlement: The latest financials of the JV are not available for verification. The availability/recovery of asset and/or
write off could not be ascertained by the management.
Textual Information(42) Effective treatment w.r.t NSS Satpura Agro Development Company Ltd. shall be given in F.Y. 2026-27.
Investment in Sindhu Resetttlement has been shown at a nominal value of 0.04 lacs.
Rest all the investments have been fully provided for.
Textual Information(43) NA
Textual Information(44) NA
Textual Information(45) NA
Textual Information(46) Other Equity:(Refer note no -19) An amount of “Exchange Fluctuation Reserves: Rs.649.53 lacs” & “Bonus Reserve: Rs.0.33
lacs” are appearing in the books of accounts since long. As confirmed by management, these reserves are created long back and
details shall be provided in next financial year. We are unable to ascertain its possible impact, if any, on the standalone financial
statements of the Company.
Textual Information(47) Earmarked reserves created in previous years. The same shall be reviewed in F.Y. 2026-27.
Textual Information(48) NA
Textual Information(49) NA
Textual Information(50) NA
Textual Information(51) . Refer Note No. 24, customer at credit includes amount payable to U.P. Government amounting to Rs.603 lacs. As informed by
the management, the company has made various other claims on U.P Government and accordingly dues of Rs. 3382.23 lacs is
recoverable from U.P. Government for which debit note dated March 10, 2014 was raised. However, the said claim was not
recognized in the standalone financial statements of the company till date, as its ultimate collection was not certain. In absence of
information on acceptability of the said claim by the UP Government, we are unable to ascertain its possible impact, if any, on the
standalone financial statements of the Company.
Textual Information(52) Includes an amount payable of Rs. 603 lacs to U.P. Government is adjustable against claims of interest and carrying charges
amounting to Rs 3,382.23 lacs is outstanding from UPGEWC on account of (i) differential of import price and amount realised on
risk sale of 9555.285 MTs Lemon Tur and (ii) Interest and carrying charges, and STC has been continuously following up the
recovery matter with Govt of UP and filed its petition dtd 28.01.2022 for resolution of dispute through AMRCD mechanism. Last
AMRCD meeting was held on 14.11.2025 wherein AMRCD committee had directed to carry out the reconciliation between STC
and UPGEWC. The reconciliation is not yet concluded, UP Govt. from time to time has sought exhaustive set of records /
documents from STC which have been sent to them. Last communication from STC to UPGEWC was sent on 05.02.2026.
Textual Information(53) NA
Textual Information(54) NA
Textual Information(55) NA


Signatories detail

Name of CEO / Managing director Nitin Kumar Yadav
Name of CFO BURA SRINIVASA RAO
Name of audit committee chairman AUDIT COMMITTEE NOT CONSTITUTED
Name of statutory auditor P V A R & ASSOCIATES
Name of other signatory, if any, with designation
Place new delhi
Date 25-08-2026


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 THE STATE TRADING CORPORATION OF INDIA LIMITED SBI PERSONALISED BANKING BRANCH Tennant Sale of goods or services NA 157.96 0.00 0.00 Textual Information(1)
2 THE STATE TRADING CORPORATION OF INDIA LIMITED SBI IFB Branch Tennant Sale of goods or services NA 551.86 0.00 0.00 Textual Information(2)
3 THE STATE TRADING CORPORATION OF INDIA LIMITED SBI CAG Branch Tennant Sale of goods or services NA 561.80 0.00 0.00 Textual Information(3)
4 THE STATE TRADING CORPORATION OF INDIA LIMITED SBI Overseas Branch Tennant Sale of goods or services NA 775.53 0.00 0.00 Textual Information(4)
5 THE STATE TRADING CORPORATION OF INDIA LIMITED Special Protection Group Tennant Sale of goods or services NA 21.37 0.00 0.00 Textual Information(5)
6 THE STATE TRADING CORPORATION OF INDIA LIMITED Security Printing & Minting Corporation Tennant Sale of goods or services NA 14.07 0.00 0.00 Textual Information(6)
7 THE STATE TRADING CORPORATION OF INDIA LIMITED Indian Railway Catering and Tourism Corporaion Limited Tennant Sale of goods or services NA 9.94 0.00 0.00 Textual Information(7)
8 THE STATE TRADING CORPORATION OF INDIA LIMITED Department of administrative Reform and Public Grievances Tennant Sale of goods or services NA 970.46 0.00 0.00 Textual Information(8)
9 THE STATE TRADING CORPORATION OF INDIA LIMITED Department of Economic Affairs Tennant Sale of goods or services NA 767.04 0.00 0.00 Textual Information(9)
10 THE STATE TRADING CORPORATION OF INDIA LIMITED Commission of Air Quality Index Tennant Sale of goods or services NA 894.39 0.00 0.00 Textual Information(10)
11 THE STATE TRADING CORPORATION OF INDIA LIMITED Capacity Building Commission Tennant Sale of goods or services NA 584.12 0.00 0.00 Textual Information(11)
12 THE STATE TRADING CORPORATION OF INDIA LIMITED 16th Finance Commision Tennant Sale of goods or services NA 343.86 0.00 0.00 Textual Information(12)
13 THE STATE TRADING CORPORATION OF INDIA LIMITED Department of expenditure Tennant Sale of goods or services na 78.22 0.00 0.00 Textual Information(13)
14 THE STATE TRADING CORPORATION OF INDIA LIMITED Shri Suresh Kumar Meena KMP Remuneration na 17.43 0.00 0.00
15 THE STATE TRADING CORPORATION OF INDIA LIMITED Shri B.S Rao KMP Remuneration NA 13.70 0.00 0.00
16 THE STATE TRADING CORPORATION OF INDIA LIMITED Shri Vipin Kumar Tripathi KMP Remuneration NA 9.60 0.00 0.00
17 THE STATE TRADING CORPORATION OF INDIA LIMITED Smt. Ritu bhatia KMP Remuneration NA 9.60 0.00 0.00
Total value of transaction during the reporting period 5,780.95



Text Block

Textual Information(1) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(2) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(3) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(4) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(5) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(6) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(7) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(8) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(9) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(10) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(11) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(12) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India
Textual Information(13) All the tenants are treated as related party because all are Government Organisation under the same Promoter i.e. Hon'ble President of India


Format for Disclosing Outstanding Default on Loans and Debt Securities

Amount in (Lakhs)

<
Sr. No. Particulars Amount Remarks
1. Loans / revolving facilities like cash credit from banks / financial institutions
A Total amount outstanding as on date 176.10
B Of the total amount outstanding, amount of default as on date 176.10
2. Unlisted debt securities i.e. NCDs and NCRPS
A Total amount outstanding as on date 0.00
B Of the total amount outstanding, amount of default as on date 0.00
3. Total financial indebtedness of the listed entity including short-term and long-term debt 1,60,145.03