Integrated Filing — IndAS

General information about company
Scrip Code	532629
NSE Symbol	MBECL
MSEI Symbol	NOTLISTED
ISIN	INE748A01016
Name of company	McNally Bharat Engineering Company 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	22-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	19-May-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	The Company is primarily engaged in the business of construction and hence no separate disclosure has been made for segment reporting as per IND AS 108- operating segments.
Start date and time of board meeting	22-May-2025   11:30:00
End date and time of board meeting	22-May-2025   19:00:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	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.	No
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	2022-03-31
Indicate Company website link for updated RPT policy of the Company	https://www.mcnallybharat.com/assets/pdf/investor/policy/related-party-transaction-policy.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?	Yes

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	302732000	1049236000
	Other income	-638774000	9081000
	Total income	-336042000	1058317000
2	Expenses
(a)	Cost of materials consumed	54558000	142081000
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
(d)	Employee benefit expense	62072000	251136000
(e)	Finance costs	1335240000	8485037000
(f)	Depreciation, depletion and amortisation expense	7176000	29661000
(f)	Other Expenses
1	Outsourcing expenses to job workers	135742000	669458000
2	Other expenses	8035485000	8618434000
	Total other expenses	8171227000	9287892000
	Total expenses	9630273000	18195807000
3	Total profit before exceptional items and tax	-9966315000	-17137490000
4	Exceptional items	-23367000	-23367000
5	Total profit before tax	-9989682000	-17160857000
6	Tax expense
7	Current tax	0	0
8	Deferred tax	0	0
9	Total tax expenses	0	0
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	-9989682000	-17160857000
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	-9989682000	-17160857000
17	Other comprehensive income net of taxes	-1819000	3987000
18	Total Comprehensive Income for the period	-9991501000	-17156870000
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	333333000	333333000
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve		-59256071000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	-51.63	-88.69
	Diluted earnings (loss) per share from continuing operations	-51.63	-88.69
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	-51.63	-88.69
	Diluted earnings (loss) per share from continuing and discontinued operations	-51.63	-88.69
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
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	121142000
	Capital work-in-progress	0
	Investment property	0
	Goodwill	0
	Other intangible assets	5721000
	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	14074000
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	1356000
	Total non-current financial assets	15430000
	Deferred tax assets (net)	5170660000
	Other non-current assets	24916000
	Total non-current assets	5337869000
2	Current assets
	Inventories	2238000
	Current financial asset
	Current investments	0
	Trade receivables, current	3387248000
	Cash and cash equivalents	17551000
	Bank balance other than cash and cash equivalents	188209000
	Loans, current	174438000
	Other current financial assets	988225000
	Total current financial assets	4755671000
	Current tax assets (net)	12872000
	Other current assets	1576631000
	Total current assets	6347412000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	11685281000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	333333000
	Other equity	-59256071000
	Total equity attributable to owners of parent	-58922738000
	Non controlling interest
	Total equity	-58922738000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	0
	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	17669000
	Total non-current financial liabilities	17669000
	Provisions, non-current	16224000
	Deferred tax liabilities (net)	0
	Deferred government grants, Non-current	0
	Other non-current liabilities
	Total non-current liabilities	33893000
	Current liabilities
	Current financial liabilities
	Borrowings, current	30942386000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	18638000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	2330181000
	Total Trade payable	2348819000
	Other current financial liabilities	36955123000
	Total current financial liabilities	70246328000
	Other current liabilities	312691000
	Provisions, current	15107000
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	70574126000
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	70608019000
	Total equity and liabilites	11685281000
	Disclosure of notes on assets and liabilities

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	1819000	-3987000
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	0
5	Total Other comprehensive income	-1819000	3987000

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			-17160857000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			8485037000
	Adjustments for decrease (increase) in inventories			1473000
	Adjustments for decrease (increase) in trade receivables, current			291862000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			-119434000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			-68827000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			115870000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			-150279000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			29661000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			6630000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			-2394000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			0
	Adjustments for dividend income			0
	Adjustments for interest income			8521000
	Adjustments for share-based payments			0
	Adjustments for fair value losses (gains)			0
	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)			8398928000
	Other adjustments for non-cash items			0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			16980006000
	Net cash flows from (used in) operations			-180851000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			-8396000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			-172455000
	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			0
	Purchase of property, plant and equipment			14000
	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			8521000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-158271000
	Net cash flows from (used in) investing activities	-149764000
	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			316667000
	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			570778000
	Repayments of borrowings			704204000
	Payments of lease liabilities			0
	Dividends paid			0
	Interest paid			4182000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-9987000
	Net cash flows from (used in) financing activities			169072000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			-153147000
	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			-153147000
	Cash and cash equivalents cash flow statement at beginning of period			170698000
	Cash and cash equivalents cash flow statement at end of period			17551000

Audit qualification
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)	Adverse opinion	Repetitive	Textual Information(2)	Textual Information(3)	Textual Information(4)	Textual Information(5)
2	Textual Information(6)	Adverse opinion	Repetitive	Textual Information(7)	Textual Information(8)	Textual Information(9)	Textual Information(10)
3	Textual Information(11)	Adverse opinion	Repetitive	Textual Information(12)	Textual Information(13)	Textual Information(14)	Textual Information(15)

Text Block
Textual Information(1)	a) Current Assets and Current Liabilities ni. We draw attention to Note 11 to the statement regarding Trade Receivables, Advance to Suppliers, Trade Payables, Other Financial Assets, and Advance from Customers being subject to confirmation and reconciliation from respective parties and consequential reconciliation, outcomes of pending arbitration/settlements of claims and adjustments arising therefrom, if any. Recoverability/ Adjustments/ Impacts with respect to these are currently not ascertainable and as such cannot be commented upon by us. n nii. Further, Claims Recoverable (BG Encashed) amounting to Rs. 36,183.70 Lakhs out of which specific provision is made of Rs. 32,377.38 Lakhs. The above amount includes Rs. 3,806.32 Lakhs under arbitration whose fair value is Rs. 2,828.72 Lakhs are doubtful. Recoverability/ Adjustments/ Impacts with respect to these are currently not ascertainable and as such cannot be commented upon by us.
Textual Information(2)	Not Applicable
Textual Information(3)	Not Applicable
Textual Information(4)	a) Current Assets and Current Liabilities nPursuant to the approval and ongoing implementation of the Resolution Plan and after due assessment of the recoverability of outstanding balances, Management assessed the balances lying in the books and having significant doubts on its realisability considered that appropriate provisions/impairments should be made in that regard. Hence, necessary provisions were made towards doubtful debts for Rs. 34,881.20 Lacs, Claim recoverable for Rs. 18,625.86 Lacs, Advance to Suppliers for Rs. 24,995.04 Lacs and Capital Work in Progress for Rs. 462.62 Lacs as a precautionary measure ensuring that the financial results reflect a true and fair view of the Companys financial position. The provisions are disclosed under the head - Other Expenses in the Statement of Profit and Loss.
Textual Information(5)	Agreed
Textual Information(6)	b) Non-adjustment of the Carrying Value of the Loan nIn earlier years, the Company had given unsecured loans to Vedica Sanjeevani Projects Private Limited (VSPPL). VSPPL vide their letter dated 15th February 2022 informed the Company that it was unable to service the debt and requested the Company for a moratorium on the repayment of the loan, including interest for two years i.e., Financial Year 2021-22 and Financial Year 2022-23. Subsequently, the Company had stopped recognizing interest income on the same. In the absence of any further communication between the Company and VSPL in the current year, we are unable to comment on the realizability of loan and its interest and consequential adjustment to be made in the books. nThis constitutes a material departure from the requirements of Indian Accounting Standard 109 Financial Instrument.
Textual Information(7)	Not Applicable
Textual Information(8)	Not Applicable
Textual Information(9)	b) Non-adjustment of the Carrying Value of the Loan nIn the absence of any further communication with Vedica, the company is unable to estimate the impact. n
Textual Information(10)	Agreed
Textual Information(11)	c) Recognition of Deferred Tax Assets nNote 9 to the Statement that the Company had recognized deferred tax assets of Rs. 51,706.60 lakhs up to 31st March, 2018 which is being carried forward in books by the Company expecting adequate future taxable profits after infusion of fresh funds in the Company by the Successful Resolution Applicant (SRA) i.e. BTL EPC Limited against which the deferred tax assets could be adjusted. nThe Company has been continually incurring losses and its net worth has been fully eroded. We are unable to obtain sufficient appropriate evidence with respect to the managements assertions and are therefore, unable to comment on the carrying value of the aforesaid net deferred tax assets on 31st March, 2025. nThis constitutes a material departure from the requirements of Indian Accounting Standard 12 Income Taxes.
Textual Information(12)	Not Applicable
Textual Information(13)	Not Applicable
Textual Information(14)	c) Recognition of Deferred Tax Assets nThe Company believes that based on the infusion of fresh funds with investors support there will be adequate future taxable profits available to the Company against which the Deferred Tax Assets can be utilized. However, as a matter of prudence, the Company has not recognized Deferred Tax Assets thereafter.
Textual Information(15)	Agreed