Integrated Filing — IndAS

General information about company
Scrip Code	507410
NSE Symbol	WALCHANNAG
MSEI Symbol	NOTLISTED
ISIN	INE711A01022
Name of company	WALCHANDNAGAR INDUSTRIES 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	14-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	Multi segment
Description of single segment
Start date and time of board meeting	22-May-2025   16:45:00
End date and time of board meeting	22-May-2025   18:20:00
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?	No
(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	2022-04-01
Indicate Company website link for updated RPT policy of the Company	https://walchand.com/wp-content/uploads/2022/07/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?	Yes
No. of times funds raised during the quarter	1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
During the said period there was no default.

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	530800000	2591800000
	Other income	29200000	356600000
	Total income	560000000	2948400000
2	Expenses
(a)	Cost of materials consumed	236200000	1280700000
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	-23200000	101700000
(d)	Employee benefit expense	232200000	847900000
(e)	Finance costs	92500000	438900000
(f)	Depreciation, depletion and amortisation expense	26900000	106400000
(f)	Other Expenses
1	Sub-contracting Expenses, Processing Charges and Other Direct Costs	35000000	214800000
2	Other Expenses	521600000	859500000
	Total other expenses	556600000	1074300000
	Total expenses	1121200000	3849900000
3	Total profit before exceptional items and tax	-561200000	-901500000
4	Exceptional items	0	41200000
5	Total profit before tax	-561200000	-860300000
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	-561200000	-860300000
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	-561200000	-860300000
17	Other comprehensive income net of taxes	45900000	64000000
18	Total Comprehensive Income for the period	-515300000	-796300000
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	134900000	134900000
	Face value of equity share capital	2	2
27	Details of debt securities
22	Reserves excluding revaluation reserve		3594200000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	-8.32	-14.73
	Diluted earnings (loss) per share from continuing operations	-8.32	-14.73
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	-8.32	-14.73
	Diluted earnings (loss) per share from continuing and discontinued operations	-8.32	-14.73
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 have been prepared in accordance with Indian Accounting Standard as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies Indian Accounting Standard Rules2015 and the Companies Indian Accounting Standard Amendment Rules n2. The above Financial Results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors at its meeting held on May 22 2025. n3. The company is engaged in segments namely Heavy Engineering Foundry Machine shop and Others. These segments have been reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker. n4. During the Quarter the Company has recognized expense of Rs. 39 lakhs under Employees Benefits Expenses under the ESOP Scheme 2020. n5. The operations at the Companys Satara Division were suspended with effect from March 20 2025 due to violent collective acts by the workmen. Subsequent to the year-end the Company withdrew the suspension and declared a lockout with effect from April 12 2025 which is continuing as on the date of the Board Meeting. The estimated daily impact on production is approximately Rs. 10 lakhs. n6. During the reporting period the Company received visibility from the TNEB Customer for completion of balance projects and hence re-assessed the cost of Completion of the balance projects of TNEB and the sales realisation of these projects. These projects got delayed due to various issues with the Customer which are now resolved to a certain extent. These unavoidable cost overruns may be required to fulfil the related contractual obligations of the company. Accordingly as per the requirements of Ind AS 37 Provisions Contingent Liabilities and Contingent Assets the Company has recognized a onetime provision towards expected losses due to cost overrun amounting to INR 4362 Lakhs on balance TNEB projects on prudent basis under Other Expenses in the Statement of Profit and Loss. nThe provision reflects management’s best estimate of the unavoidable costs on prudent basis based on the information available as of the reporting date and management is confident that the proposed provision will be adequate for completion of the Balance projects of TNEB. n7. Allotment Committee of the Board of Directors of the Company at their meeting held on November 16 2023 have allotted 21718023 Two Crore Seventeen Lakhs Eighteen Thousand and Twenty Three equity warrants at a price of Rs. 114 per warrant aggregating up to Rs. 2475854622 Rupees Two Hundred and Forty Seven Crore Fifty Eight Lakhs Fifty Four Thousand Six Hundred and Twenty Two only convertible into equal number of equity shares to the allottees. Further the Allotment Committee of the Board of Directors of the Company at its meeting held on March 19 2024 have allotted 9393862 equity shares of face value of Rs. 2 and on January 1 2025 have allotted 12000480 equity shares of face value of Rs. 2 each fully paid up due to conversion of share warrants into equity shares. n8. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year upto March 31 2025 March 31 2024 and the unaudited published year to date figures upto December 31 2024 December 31 2023 being the date of the end of the third quarter of the financial year which were subject to a limited review. n9. Figures for the previous periods have been regrouped/reclassified where necessary, to confirm to the current period classification.

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	2426900000
	Capital work-in-progress	81100000
	Investment property	15300000
	Goodwill	5700000
	Other intangible assets	0
	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	1900000
	Trade receivables, non-current	801900000
	Loans, non-current	0
	Other non-current financial assets	44600000
	Total non-current financial assets	848400000
	Deferred tax assets (net)	0
	Other non-current assets	393100000
	Total non-current assets	3770500000
2	Current assets
	Inventories	1236400000
	Current financial asset
	Current investments	0
	Trade receivables, current	699500000
	Cash and cash equivalents	549600000
	Bank balance other than cash and cash equivalents	539600000
	Loans, current	0
	Other current financial assets	1142400000
	Total current financial assets	2931100000
	Current tax assets (net)	12900000
	Other current assets	521300000
	Total current assets	4701700000
3	Non-current assets classified as held for sale	248800000
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	8721000000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	134900000
	Other equity	3594200000
	Total equity attributable to owners of parent	3729100000
	Non controlling interest
	Total equity	3729100000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	514400000
	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 non-current financial liabilities	514400000
	Provisions, non-current	125600000
	Deferred tax liabilities (net)
	Deferred government grants, Non-current
	Other non-current liabilities	486400000
	Total non-current liabilities	1126400000
	Current liabilities
	Current financial liabilities
	Borrowings, current	1420600000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	122400000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	512600000
	Total Trade payable	635000000
	Other current financial liabilities	1056700000
	Total current financial liabilities	3112300000
	Other current liabilities	724100000
	Provisions, current	29100000
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	3865500000
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	4991900000
	Total equity and liabilites	8721000000
	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)
1	Heavy Engineering	432900000	1997000000
2	Foundry and Machine Shop	41300000	369800000
3	Others	57500000	235000000
4	Profit on sale of assets	0	0
	Total Segment Revenue	531700000	2601800000
	Less: Inter segment revenue	800000	800000
	Revenue from operations	530900000	2591800000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Heavy Engineering	-452400000	-606700000
2	Foundry and Machine Shop	-21400000	-87200000
3	Others	13500000	57800000
4	Profit on sale of assets	100000	206000000
	Total Profit before tax	-460200000	-430100000
	i. Finance cost	92600000	92600000
	ii. Other Unallocable Expenditure net off Unallocable income	8400000	8400000
	Profit before tax	-561200000	-860200000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Heavy Engineering	7794700000	7794700000
2	Foundry and Machine Shop	468500000	468500000
3	Others	440700000	440700000
4	Profit on sale of assets	0	0
	Total Segment Asset	8703900000	8703900000
	Un-allocable Assets	17000000	17000000
	Net Segment Asset	8720900000	8720900000
4	Segment Liabilities
	Segment Liabilities
1	Heavy Engineering	4540300000	4540300000
2	Foundry and Machine Shop	265700000	265700000
3	Others	31000000	31000000
4	Profit on sale of assets	0	0
	Total Segment Liabilities	4837000000	4837000000
	Un-allocable Liabilities	154800000	154800000
	Net Segment Liabilities	4991800000	4991800000
	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
1	(a) Remeasurements of the Defined Benefit Liabilities - gain / (loss)	46600000	63800000
2	(b) Equity Instruments through Other Comprehensive Income - gain / (loss)	-700000	200000
	Total Amount of items that will not be reclassified to profit and loss	45900000	64000000
2	Income tax relating to items that will not be reclassified to profit or loss	0	0
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
5	Total Other comprehensive income	45900000	64000000

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			-860300000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			438900000
	Adjustments for decrease (increase) in inventories			152000000
	Adjustments for decrease (increase) in trade receivables, current			183100000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			3200000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			-6700000
	Adjustments for other financial assets, current			-237700000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			-99800000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			10800000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			106400000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			-1000000
	Adjustments for provisions, non-current			26400000
	Adjustments for other financial liabilities, current			0
	Adjustments for other financial liabilities, non-current			131100000
	Adjustments for unrealised foreign exchange losses gains			-12500000
	Adjustments for dividend income			0
	Adjustments for interest income			0
	Adjustments for share-based payments			11300000
	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			-207200000
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			520900000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			1019200000
	Net cash flows from (used in) operations			158900000
	Dividends received			0
	Interest paid			0
	Interest received			-59500000
	Income taxes paid (refund)			-56800000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			156200000
	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			500000
	Purchase of property, plant and equipment			346500000
	Proceeds from sales of investment property			169100000
	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			-53000000
	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			74000000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			1200000
	Net cash flows from (used in) investing activities	-154700000
	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			900900000
	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			100000
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			715500000
	Repayments of borrowings			1188500000
	Payments of lease liabilities			0
	Dividends paid			0
	Interest paid			437300000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-9300000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			-7800000
	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			-7800000
	Cash and cash equivalents cash flow statement at beginning of period			557400000
	Cash and cash equivalents cash flow statement at end of period			549600000

Signatory Details
Name of signatory	G S Agrawal
Designation of person	Company Secretary and Compliance Officer
Place	Mumbai
Date	22-May-2025