Integrated Filing — IndAS

General information about company
Scrip Code	523229
NSE Symbol	BHARATSE
MSEI Symbol	NOTLISTED
ISIN	INE415D01024
Name of company	Bharat Seats Limited
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	07-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	30-Apr-2025
Description of presentation currency	INR (in Actuals)
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	Manufacture of Complete seating system and interior component for the automotive and surface transport
Start date and time of board meeting	07-May-2025   11:50:00
End date and time of board meeting	07-May-2025   13:10:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	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	2025-03-24
Indicate Company website link for updated RPT policy of the Company	https://bharatseats.com/wp-content/uploads/2020/05/2.-Policy-on-Related-Party-Transactions.pdf
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
No

Financial Results Ind-AS
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-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	3929125000	12888247000
	Other income	12817000	35857000
	Total income	3941942000	12924104000
2	Expenses
(a)	Cost of materials consumed	3315269000	10796494000
(b)	Purchases of stock-in-trade	15345000	15345000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	9513000	-6110000
(d)	Employee benefit expense	141959000	531466000
(e)	Finance costs	20955000	89071000
(f)	Depreciation, depletion and amortisation expense	67611000	262399000
(f)	Other Expenses
1	Power & Fuel	34249000	125867000
2	Research & Development Expenses	9106000	18443000
3	Maintenance of Building, Plant & Machinery and others	22516000	60039000
4	Consumption of stores	2104000	7701000
5	Insurance	5367000	17068000
6	Contract manpower and jobwork expenses	81382000	284927000
7	Legal & professional	13730000	76437000
8	Travelling & conveyance	9286000	45177000
9	Technical fees & Royalty	5491000	18775000
10	Miscellaneous & other expenses	36740000	142044000
	Total other expenses	219971000	796478000
	Total expenses	3790623000	12485143000
3	Total profit before exceptional items and tax	151319000	438961000
4	Exceptional items	0	0
5	Total profit before tax	151319000	438961000
6	Tax expense
7	Current tax	38129000	118184000
8	Deferred tax	-695000	-6226000
9	Total tax expenses	37434000	111958000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	113885000	327003000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	113885000	327003000
17	Other comprehensive income net of taxes	1764000	500000
18	Total Comprehensive Income for the period	115649000	327503000
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	125600000	125600000
	Face value of equity share capital	2	2
27	Details of debt securities
22	Reserves excluding revaluation reserve		1819927000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	1.81	5.21
	Diluted earnings (loss) per share from continuing operations	1.81	5.21
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	1.81	5.21
	Diluted earnings (loss) per share from continuing and discontinued operations	1.81	5.21
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		1.The above financial results of Bharat Seats Limited (the Company) have been prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 as amended. n n2.The figures for the last quarter are the balancing figures between audited figures in respect of the full financial year upto March 31, 2025 and the unaudited published year to date figures upto December 31, 2024 being the date of the end of the third quarter of the financial year which were subjected to limited review. n n3.In line with the provisions of IND AS-108 - Operating Segment, the Company is engaged in the business of manufacturing of different seating systems, Automotive parts and Components for automobile industry, which constitute single reporting business segment, hence no segment disclosures are required. n n4.The company has issued 3,14,00,000 fully paid-up bonus equity shares, each with a nominal value of Rs 2, in a 1:1 ratio, pursuant to approval granted by shareholders i.e. every existing equity share with a face value of Rs 2, one additional equity share with a face value of Rs 2 was issued. As a result of the share allotment on December 23, 2024, the company's issued, subscribed, and paid-up capital has increased to Rs 1,256 lakhs. This increase was achieved by capitalizing Rs 628 lakhs from the company's free reserves. n nConsequently, the basic and diluted earnings per equity share have been recalculated to Rs 1.21 and Rs 1.29, respectively, for the quarters ending December 31, 2024, and March 31, 2024. For the year ended March 31, 2025, the earnings per share stood at Rs. 5.21 and for the fiscal year ending March 31, 2024, the earnings per share reached Rs 3.99. Additionally, pursuant to the approval of shareholder obtained through a postal ballot notice dated November 5, 2024, with the results declared on December 9, 2024 (the approval date and the last date for e-voting being the same), the company's authorized share capital has been increased from Rs 700 lakhs to Rs 1,500 lakhs. n n5.During the financial year 2023-24, the Income Tax Department (the department) conducted a search under section 132 of the Income Tax Act, 1961 at certain premises of the Company including manufacturing locations and residence of few of its employees/key managerial personnel. nSubsequently, the Company received notices from the Department requesting details of specific transactions and documents from prior years. In response, the Company submitted the required information, pursuant to which the Company has received demand orders amounting to Rs. 2,243.72 lakhs (excluding penalties) for the Assessment Years 2014-15 to 2024-25, along with a penalty demand order of Rs. 524.28 lakhs for the Assessment Year 2022-23. nThe Company has filed appeals against the demand orders received from department with the Commissioner of Income Tax (Appeals). As per Company’s own assessment and also based on legal advice, management is confident of favourable outcome for such appeals. Pending outcome of appeal proceedings, no adjustment has been made to these financial statements. n n6.Subject to the approval of shareholders in the ensuing Annual General Meeting of the Company, the board of directors has recommended a final dividend of 55 percent i.e. Rs.1.10 per share of the face value of Rs. 2/- each aggregating to Rs. 690.80 lakhs. n n7.The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 7th May, 2025. n n n n n n

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	2150431000
	Capital work-in-progress	895690000
	Investment property	0
	Goodwill	0
	Other intangible assets	678986000
	Intangible assets under development	0
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	0
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	15508000
	Total non-current financial assets	15508000
	Deferred tax assets (net)	0
	Other non-current assets	110612000
	Total non-current assets	3851227000
2	Current assets
	Inventories	554483000
	Current financial asset
	Current investments	0
	Trade receivables, current	1966496000
	Cash and cash equivalents	29558000
	Bank balance other than cash and cash equivalents	1653000
	Loans, current	0
	Other current financial assets	9944000
	Total current financial assets	2007651000
	Current tax assets (net)	0
	Other current assets	63677000
	Total current assets	2625811000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	6477038000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	125600000
	Other equity	1819927000
	Total equity attributable to owners of parent	1945527000
	Non controlling interest
	Total equity	1945527000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	502189000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	669777000
	Total non-current financial liabilities	1171966000
	Provisions, non-current	12653000
	Deferred tax liabilities (net)	61130000
	Deferred government grants, Non-current	0
	Other non-current liabilities	0
	Total non-current liabilities	1245749000
	Current liabilities
	Current financial liabilities
	Borrowings, current	297146000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	149404000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	2432369000
	Total Trade payable	2581773000
	Other current financial liabilities	199933000
	Total current financial liabilities	3078852000
	Other current liabilities	170706000
	Provisions, current	36204000
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	3285762000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	4531511000
	Total equity and liabilites	6477038000
	Disclosure of notes on assets and liabilities	Textual Information(1)

Text Block
Textual Information(1)	13232

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
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-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts 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
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-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
	Total Amount of items that will not be reclassified to profit and loss
2	Income tax relating to items that will not be reclassified to profit or loss	-2357000	-668000
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	593000	168000
5	Total Other comprehensive income	1764000	500000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			438961000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			87890000
	Adjustments for decrease (increase) in inventories			-157214000
	Adjustments for decrease (increase) in trade receivables, current			-933404000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			121183000
	Adjustments for decrease (increase) in other non-current assets			367000
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			0
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			1156193000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			64493000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			262399000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			0
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			0
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			1739000
	Adjustments for dividend income			0
	Adjustments for interest income			4327000
	Adjustments for share-based payments			0
	Adjustments for fair value losses (gains)			-218000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			-5930000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			593171000
	Net cash flows from (used in) operations			1032132000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			70691000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			961441000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			13630000
	Purchase of property, plant and equipment			698505000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			4329000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-579000
	Net cash flows from (used in) investing activities	-681125000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			200000000
	Repayments of borrowings			284587000
	Payments of lease liabilities			5903000
	Dividends paid			50240000
	Interest paid			59094000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-52997000
	Net cash flows from (used in) financing activities			-252821000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			27495000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			27495000
	Cash and cash equivalents cash flow statement at beginning of period			2063000
	Cash and cash equivalents cash flow statement at end of period			29558000