Integrated Filing — IndAS



General information about company
Scrip Code 500404
NSE Symbol SUNFLAG
MSEI Symbol NOTLISTED
ISIN INE947A01014
Name of company SUNFLAG IRON AND STEEL 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 27-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 ROLLED PRODUCTS
Start date and time of board meeting 27-May-2025   12:00:00
End date and time of board meeting 27-May-2025   17:25:00
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 2025-02-13
Indicate Company website link for updated RPT policy of the Company https://sunflagsteel.com/wp-content/uploads/2025/02/Policy-on-Materiality-of-Related-Party-Transactions-1.3-dt.-13.02.2025.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 such Default during the period under review, hence Not applicable



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 8831100000 35355900000
Other income 26500000 164600000
Total income 8857600000 35520500000
2 Expenses
(a) Cost of materials consumed 6190800000 22289700000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -641700000 -214500000
(d) Employee benefit expense 327400000 1373200000
(e) Finance costs 218700000 899000000
(f) Depreciation, depletion and amortisation expense 264000000 1044500000
(f) Other Expenses
1 Other Expenses 1950200000 8014300000
Total other expenses 1950200000 8014300000
Total expenses 8309400000 33406200000
3 Total profit before exceptional items and tax 548200000 2114300000
4 Exceptional items 0 0
5 Total profit before tax 548200000 2114300000
6 Tax expense
7 Current tax 144400000 622500000
8 Deferred tax -24000000 -125700000
9 Total tax expenses 120400000 496800000
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 427800000 1617500000
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 427800000 1617500000
17 Other comprehensive income net of taxes 2819800000 34405800000
18 Total Comprehensive Income for the period 3247600000 36023300000
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 1802200000 1802200000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 82318100000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 2.37 8.98
Diluted earnings (loss) per share from continuing operations 2.37 8.98
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 2.37 8.98
Diluted earnings (loss) per share from continuing and discontinued operations 2.37 8.98
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 :ttttt n1.tThe Standalone financial results have been reviewed and recommended by the audit committee and approved by the Board of Directors at their respective meeting held on May 27, 2025. Limited review under regulation 33 of the SEBI (Listing obligations and disclosure requirements) Regulations, 2015 has been carried out by the statutory auditors of the Company. The auditors have expressed an unqualified report on the above results. n2.tThe Standalone financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (IND AS) prescribed under section 133 of the Companies Act, 2013 as amended and other recognised accounting practices and policies to the extent possible. n3.tThe Company has only one operating segment i.e. ‘Iron & Steel Business’ and operations are mainly within India. Hence, it is the only reportable segment under IND AS-108 ‘Operating Segments’. n4.tOther comprehensive income includes MTM gain on equity shares held by the Company in Lloyds Metal & Energy Limited (LMEL) recognised at its fair value as at March 31, 2025. n5.tThe Board of Directors have recommended a dividend of Rs.0.75 per fully paid up equity share of Rs.10 each for the year ended March 31, 2025, subject to approval by the shareholders. n6.tThe figures of previous periods have been re-grouped/re-arranged wherever necessary to make them comparable. n7.tThe Figures of last Quarters are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the financial years. n8.tThe results of the Company are also available on stock exchange websites, www.nseindia.com, www.bseindia.com and on the Company's website www.sunflagsteel.com.



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 14399800000
Capital work-in-progress 2740100000
Investment property
Goodwill 0
Other intangible assets 0
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 77838100000
Trade receivables, non-current
Loans, non-current 0
Other non-current financial assets 345400000
Total non-current financial assets 78183500000
Deferred tax assets (net)
Other non-current assets 671400000
Total non-current assets 95994800000
2 Current assets
Inventories 9311900000
Current financial asset
Current investments 0
Trade receivables, current 3616700000
Cash and cash equivalents 997900000
Bank balance other than cash and cash equivalents 570000000
Loans, current 0
Other current financial assets 33200000
Total current financial assets 5217800000
Current tax assets (net) 5500000
Other current assets 1121900000
Total current assets 15657100000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 111651900000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1802200000
Other equity 85702000000
Total equity attributable to owners of parent 87504200000
Non controlling interest
Total equity 87504200000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 1610600000
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 555400000
Total non-current financial liabilities 2166000000
Provisions, non-current 442200000
Deferred tax liabilities (net) 11006100000
Deferred government grants, Non-current
Other non-current liabilities
Total non-current liabilities 13614300000
Current liabilities
Current financial liabilities
Borrowings, current 4052200000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 389500000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 4393400000
Total Trade payable 4782900000
Other current financial liabilities 1300600000
Total current financial liabilities 10135700000
Other current liabilities 397700000
Provisions, current 0
Current tax liabilities (Net)
Deferred government grants, Current
Total current liabilities 10533400000
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 24147700000
Total equity and liabilites 111651900000
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
1 Items not to be reclassified to profit and loss 3295800000 41078900000
Total Amount of items that will not be reclassified to profit and loss 3295800000 41078900000
2 Income tax relating to items that will not be reclassified to profit or loss 476000000 6673100000
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 2819800000 34405800000



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 2114300000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 899000000
Adjustments for decrease (increase) in inventories -985900000
Adjustments for decrease (increase) in trade receivables, current -230400000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -368900000
Adjustments for decrease (increase) in other non-current assets -51500000
Adjustments for other financial assets, non-current 38000000
Adjustments for other financial assets, current 59000000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -475700000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 495600000
Adjustments for increase (decrease) in other non-current liabilities 19600000
Adjustments for depreciation and amortisation expense 1044500000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 74300000
Adjustments for provisions, non-current 15400000
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 60000000
Adjustments for interest income 97500000
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) -700000
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) 374800000
Net cash flows from (used in) operations 2489100000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 615000000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 1874100000
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 248600000
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 900000
Purchase of property, plant and equipment 800400000
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 -22700000
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 60000000
Interest received 97500000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities -867900000
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 328500000
Repayments of borrowings 1324100000
Payments of lease liabilities 91800000
Dividends paid 0
Interest paid 844800000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -1932200000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -926000000
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 -926000000
Cash and cash equivalents cash flow statement at beginning of period 1923900000
Cash and cash equivalents cash flow statement at end of period 997900000





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 M/s NSBP & Co, Chartered Accountants 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 Sunflag Iron and Steel Company Limited Mr. Pranav Bhardwaj Managing Director Remuneration Nil 14907000 1562000 1562000
2 Sunflag Iron and Steel Company Limited Mr. Pranav Bhardwaj Managing Director Any other transaction Commission Nil 0 10910000 73000
3 Sunflag Iron and Steel Company Limited Mr. Ravi Bhushan Bhardwaj Non-executive Chairman Any other transaction Commission Nil 0 8508000 687000
4 Sunflag Iron and Steel Company Limited Sunflag Power Limited Subsidiary Investment NA 0 500000 500000
5 Sunflag Iron and Steel Company Limited Sunflag Power Limited Subsidiary Investment NA 0 105000000 105000000
6 Sunflag Iron and Steel Company Limited Khappa Coal Company Private Limited Subsidiary Investment NA 0 31635000 31635000
7 Sunflag Iron and Steel Company Limited Khappa Coal Company Private Limited Subsidiary Loan NA 0 73710000 73710000
8 Sunflag Iron and Steel Company Limited Sunflag Foundation Subsidiary Investment NA 0 100000 100000
9 Sunflag Iron and Steel Company Limited Sunflag Foundation Subsidiary Any other transaction CSR Expenses NA 21500000 0 0
10 Sunflag Iron and Steel Company Limited Haryana Television Limited Significant influence through Director/ KMP Any other transaction Security Deposit given 2820000 NA 0 2820000 2820000
11 Sunflag Iron and Steel Company Limited Haryana Television Limited Significant influence through Director/ KMP Any other transaction Lease rent paid 6650000 NA 2850000 0 475000
12 Sunflag Iron and Steel Company Limited Daido D.M.S. India Private Limited Joint Venture Investment NA 0 56194000 56194000
13 Sunflag Iron and Steel Company Limited Daido Steel Co. Ltd., Japan Deemed Related Party Any other transaction Royalty payment 25000000 NA 13285000 0 7275000
14 Sunflag Iron and Steel Company Limited Daido Steel Co. Ltd., Japan Deemed Related Party Any other transaction Service fees for technical assistance 25000000 NA 360000 0 150000
15 Sunflag Iron and Steel Company Limited Ramesh Sunwire Private Limited Joint Venture Investment NA 0 98000000 98000000
16 Sunflag Iron and Steel Company Limited Ramesh Sunwire Private Limited Joint Venture Sale of goods or services 400000000 NA 172762000 78594000 104762000
17 Sunflag Iron and Steel Company Limited Ramesh Sunwire Private Limited Joint Venture Purchase of goods or services 5000000 NA 4323000 0 0
18 Sunflag Iron and Steel Company Limited C T Mining Private Limited Joint Venture Investment NA 0 31800000 31800000
19 Sunflag Iron and Steel Company Limited Madanpur (North) Coal Company Private Limited Joint Venture Investment NA 0 12102000 12102000
20 Sunflag Iron and Steel Company Limited Renew Green (MPR THREE) Private LimitednLimited Joint Venture Investment 363224000 NA 248660000 90388000 339048000 Investment 0 NA Unsecured For solar Photovoltaic Project
21 Sunflag Iron and Steel Company Limited Supra Corporation Limited Other Any other transaction Rent paid 142000 NA 71000 25000 37000
22 Sunflag Iron and Steel Company Limited Surjagarh Metals and Minerals Limited Other Any other transaction Rent paid 1000 NA 1000 0 0
Total value of transaction during the reporting period 478719000