Integrated Filing — IndAS



General information about company
Scrip Code 532989
NSE Symbol BAFNAPH
MSEI Symbol NOTLISTED
ISIN INE878I01022
Name of company BAFNA PHARMACEUTICALS 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 26-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 Pharmaceuticals
Start date and time of board meeting 26-May-2025   14:30:00
End date and time of board meeting 26-May-2025   16:10:00
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 2025-05-26
Indicate Company website link for updated RPT policy of the Company www.bafnapharma.com
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
The Company has not defaulted on repayment of Loans and Debt Securities.



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 390600000 1458570000
Other income 10250000 27422000
Total income 400850000 1485992000
2 Expenses
(a) Cost of materials consumed 174265000 744856000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 41242000 64465000
(d) Employee benefit expense 55811000 210297000
(e) Finance costs 8222000 27313000
(f) Depreciation, depletion and amortisation expense 2151000 48897000
(f) Other Expenses
1 Manufacturing Expenses 50323000 221289000
2 Other Expenses 37839000 105894000
Total other expenses 88162000 327183000
Total expenses 369853000 1423011000
3 Total profit before exceptional items and tax 30997000 62981000
4 Exceptional items -17887000 -21456000
5 Total profit before tax 13110000 41525000
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 13110000 41525000
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 13110000 41525000
17 Other comprehensive income net of taxes -2124000 -1850000
18 Total Comprehensive Income for the period 10986000 39675000
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 236563000 236563000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 631867000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.55 1.76
Diluted earnings (loss) per share from continuing operations 0.55 1.76
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.55 1.76
Diluted earnings (loss) per share from continuing and discontinued operations 0.55 1.76
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) Notes: n1. The financial results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors of the Company at their respective meetings held on 26th May, 2025. The statutory auditors have carried out the audit of the above financial results. n2. The figures for the quarter ended 31st March 2025 and preceding quarter ended 31st March 2024 are the balancing figures between the audited year to date figures for the year ended 31st March and the unaudited published figures for the nine months ended 31st December of the respective financial years.The figures for the corresponding previous periods have been regrouped and reclassified, wherever necessary, to make them comparable. n3. Company business relates to the manufacturing of pharmaceuticals formations, which in context of Indian Accounting Standards 108 Ind AS 108 as notified under Section 133 of the Companies Act, 2013 is considered as the only segment. n4. The Company is required to maintain the Minimum Public Shareholding as prescribed under Rule 19A of the Securities Contracts (Regulation) Rules, 1957 and Regulation 38 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Promoter of the Company had issued Notice of Offer for Sale in the earlier period for certain equity shares. However, the said offer had not garnered the requisite number of subscribers to reach the MPS Criteria. The Promoters took steps to regularise the statutory non-compliance and initiated further measures to achieve the required public shareholding. As a result, the Promoters completed the sale of shares through the OFS, and the Company achieved the prescribed Minimum Public Shareholding as on April 2, 2025 and in the process of obtaining waiver for the penalty levied the Stock Exchanges. n5. Exceptional items for the year ended 31st March 2025 represents the following: n(a) Derecognition of certain inventory items amounting to INR 37.56 Lakhs n(b) Derecognition of Intangible Asset under Development amounting to INR 177 Lakhs. The management has derecognised the Intangible Asset under Development as it does not foresee that any future economic benefit would accrue to the Company in respect of the expenditure incurred in the earlier financial years towards obtaining certain product registrations. n6. The Board of Directors of the Company, at its meeting held on 13th August, 2024, had approved the sale of assets of the Manufacturing unit of the Company located at Madhavaram, subject to regulatory approvals, which was also approved by the shareholders at the AGM held on 25th September, 2024. Accordingly, the assets of the Madhavaram unit is classified as Assets Held for Sale. The management expects the sale process to be concluded in the ensuing quarters.



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 587799000
Capital work-in-progress 73132000
Investment property 0
Goodwill 0
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 5000
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 8066000
Total non-current financial assets 8071000
Deferred tax assets (net) 0
Other non-current assets 0
Total non-current assets 669002000
2 Current assets
Inventories 280861000
Current financial asset
Current investments 0
Trade receivables, current 401735000
Cash and cash equivalents 34327000
Bank balance other than cash and cash equivalents 0
Loans, current 230000
Other current financial assets 0
Total current financial assets 436292000
Current tax assets (net) 2979000
Other current assets 127144000
Total current assets 847276000
3 Non-current assets classified as held for sale 14513000
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 1530791000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 236563000
Other equity 611502000
Total equity attributable to owners of parent 848065000
Non controlling interest
Total equity 848065000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 140285000
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 0
Total non-current financial liabilities 140285000
Provisions, non-current 4782000
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 19142000
Total non-current liabilities 164209000
Current liabilities
Current financial liabilities
Borrowings, current 141701000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 93021000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 216431000
Total Trade payable 309452000
Other current financial liabilities 25840000
Total current financial liabilities 476993000
Other current liabilities 27694000
Provisions, current 13830000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 518517000
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 682726000
Total equity and liabilites 1530791000
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 2124000 1850000
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 -2124000 -1850000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
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 41525000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 27313000
Adjustments for decrease (increase) in inventories 11802000
Adjustments for decrease (increase) in trade receivables, current 55040000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 30951000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 588000
Adjustments for other financial assets, current 6270000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -44773000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 7768000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 48897000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 8157000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 7647000
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 1364000
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) 22382000
Other adjustments for non-cash items -4347000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 176331000
Net cash flows from (used in) operations 217856000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) -3503000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 221359000
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 586000
Purchase of property, plant and equipment 218597000
Proceeds from sales of investment property 0
Purchase of investment property 5000
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 5000000
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 1387000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities -211629000
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 38093000
Repayments of borrowings 0
Payments of lease liabilities 0
Dividends paid 0
Interest paid 27456000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 10637000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 20367000
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 20367000
Cash and cash equivalents cash flow statement at beginning of period 13960000
Cash and cash equivalents cash flow statement at end of period 34327000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's 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 Yes
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 Brahmayya And Co Yes 30-Apr-2027


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 BAFNA PHARMACEUTICALS LIMITED Bafna Mahaveer Chand Chief Executive Officer Remuneration 7600000 Approved 3672000 0 0
2 BAFNA PHARMACEUTICALS LIMITED Bafna Mahaveer Chand Chief Executive Officer Loan Approved 0 15007000 15007000
3 BAFNA PHARMACEUTICALS LIMITED Navin Bafna Son of Chief Executive Officer Any other transaction Salary For Rendering Services 2600000 Approved 1380000 0 0
4 BAFNA PHARMACEUTICALS LIMITED Navin Bafna Son of Chief Executive Officer Any other transaction Salary Advance Approved 217000 0 130000
5 BAFNA PHARMACEUTICALS LIMITED Navin Bafna Son of Chief Executive Officer Any other transaction Salary Advance Repayment Approved 87000 0 0
6 BAFNA PHARMACEUTICALS LIMITED Sasikala Bafna Wife of Chief Executive Officer Any other transaction Rent 1800000 Approved 885000 0 0
7 BAFNA PHARMACEUTICALS LIMITED Shanmugam Hemalatha Whole Time Director Remuneration 2000000 Approved 1024000 0 0
8 BAFNA PHARMACEUTICALS LIMITED Vinayak Dinesh Dendukuri Whole Time Director Remuneration 3800000 Approved 1656000 0 0
9 BAFNA PHARMACEUTICALS LIMITED Melagiri Sridhar Chief Financial Officer Remuneration 1500000 Approved 760000 0 0
10 BAFNA PHARMACEUTICALS LIMITED Melagiri Sridhar Chief Financial Officer Any other transaction Salary Advance Repayment Approved 50000 50000 0
11 BAFNA PHARMACEUTICALS LIMITED Mohanachandran A Company Secretary Remuneration 1250000 Approved 551000 0 0
12 BAFNA PHARMACEUTICALS LIMITED P K Sundaresan Independent Director Any other transaction Sitting Fees Approved 97000 0 0
13 BAFNA PHARMACEUTICALS LIMITED Ravichandran Chitra Independent Director Any other transaction Sitting Fees Approved 96000 0 0
14 BAFNA PHARMACEUTICALS LIMITED Akila C Raju Non Executive Director Any other transaction Sitting Fees Approved 91000 0 0
15 BAFNA PHARMACEUTICALS LIMITED Upendar Mekala Reddy Non Executive Director Any other transaction Sitting Fees Approved 96000 0 0
16 BAFNA PHARMACEUTICALS LIMITED Krishna Yeachuri Independent Director Any other transaction Sitting Fees Approved 49000 0 0
17 BAFNA PHARMACEUTICALS LIMITED Bhansilal And Co HUF Relative of KMP Any other transaction Rent 12000 Approved 6000 0 0
Total value of transaction during the reporting period 10717000