Integrated Filing — IndAS



General information about company
Scrip Code 532699
NSE Symbol ROHLTD
MSEI Symbol NA
ISIN INE283H01019
Name of company Royal Orchid Hotels 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 21-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
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 Hospitality
Start date and time of board meeting 27-May-2025   10:00:00
End date and time of board meeting 27-May-2025   13:20:00
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 Statement on impact of audit qualification



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 Consolidated Consolidated
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 867442000 3194702000
Other income 55938000 237067000
Total income 923380000 3431769000
2 Expenses
(a) Cost of materials consumed 78744000 312983000
(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 207057000 836890000
(e) Finance costs 40305000 165705000
(f) Depreciation, depletion and amortisation expense 50608000 207267000
(f) Other Expenses
1 Rent Expense 61979000 166503000
2 Power and Fuel Expense 50637000 218433000
3 Other Expenses 269791000 929179000
Total other expenses 382407000 1314115000
Total expenses 759121000 2836960000
3 Total profit before exceptional items and tax 164259000 594809000
4 Exceptional items 0 0
5 Total profit before tax 164259000 594809000
6 Tax expense
7 Current tax 47276000 156260000
8 Deferred tax 2622000 7279000
9 Total tax expenses 49898000 163539000
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 114361000 431270000
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 17100000 43699000
16 Total profit (loss) for period 131461000 474969000
17 Other comprehensive income net of taxes -7649000 479000
18 Total Comprehensive Income for the period 123812000 475448000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 131398000 472448000
Total profit or loss, attributable to non-controlling interests 63000 2521000
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 123669000 472847000
Total comprehensive income for the period attributable to owners of parent non-controlling interests 143000 2601000
21 Details of equity share capital
Paid-up equity share capital 274252000 274252000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 0
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.79 17.23
Diluted earnings (loss) per share from continuing operations 4.79 17.23
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 4.79 17.23
Diluted earnings (loss) per share from continuing and discontinued operations 4.79 17.23
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) The consolidated financial results the Statement for the quarter and year ended 31 March 2025 have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards specified under Section 133 of the Companies Act 2013 the Act read with the Companies Indian Accounting Standards Rules 2015 as amended and other accounting principles generally accepted in India and is in compliance with presentation and disclosure requirements of Regulation 33 of the SEBI Listing Obligation and Disclosure Requirements Regulations 2015 as amended. nThe consolidated financial results the Statement for the quarter and year ended 31 March 2025 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 27 May 2025. The Statutory Auditors of the Holding Company have carried out limited review of the above financial results and have issued a qualified report. The consolidated financial results for the quarter and year ended 31 March 2025 can be viewed on the website of the Holding Company National Stock Exchange of India Limited NSE and BSE Ltd BSE at www.royalorchidhotels.com www.nseindia.com and www.bseindia.com respectively. nThe Group has evaluated its Operating segments in accordance with Ind AS 108 and has concluded that it is engaged in a single operating segment viz. hospitality business. nThe figures for the quarter ended 31 March 2025 and 31 March 2024 are the balancing figures between the audited figures in respect of the full financial years and published unaudited year to date figures upto third quarter of the respective financial years. Also the figures upto the end of third quarter were subjected to limited review and were not subjected to audit. nThe Securities and Exchange Board of India SEBI on 31 March 2023 issued an Interim Order cum Show Cause Notice to the Company its Managing Director a Director and its Chief Financial officer collectively called Noticees for not considering Ksheer Sagar Developers Private Limited KSDPL as a subsidiary of Royal Orchid Hotels Limited and treating it as an associate and thereby overstating the consolidated net profit of the Royal Orchid Group and misrepresenting the consolidated financial statements for the financial year ended 31 March 2022. The Interim Order had directed the Company to restate its consolidated financial statements for the year ended 31 March 2022 and prepare its consolidated financial statements for the year ended 31 March 2023 after considering KSDPL as a subsidiary. nThe Interim Order also contained show cause notices to show cause as to why suitable directions or prohibitions under Sections 11 1 11 4 and 11B 1 of SEBI Act should not be issued against the Noticees. The order also contained show cause notices to show cause as to why inquiry should not be held in terms of Rule 4 of Securities and Exchange Board of India Procedure for Holding Inquiry and Imposing Penalties Rules 1995 and penalty be not imposed on them under Sections 11 4A and 11 B 2 read with Section 15HA andor 15HB of the SEBI Act 1992 for the above alleged violations of provisions of the SEBI Act LODR Regulations and PFUTP Regulations. nThe Company its Board and its Audit Committee had carried out a detailed evaluation of the above order cum show cause notice and on the advice from its legal counsel had filed an appeal with the Securities Appellate Tribunal SAT against the order cum show cause notice issued by SEBI. The SAT on 9 May 2023 had stayed the effect and operation of the order cum show cause notice issued by SEBI till 30 June 2023 which was further extended till 17 August 2023. On 17 August 2023 the Company had requested an opportunity to be heard and respond to the show cause notice issued by SEBI which was granted by the SAT and the stay granted by SAT on 9 May 2023 continued to stay in effect. Consequently the Company has responded to show cause notice issued by SEBI and the matter was heard by SEBI on 30 October 2023. The Company had been given time till 15 November 2023 to make its additional submissions before SEBI. The Company had submitted its response basis which SEBI issued its final order on 11 October 2024 stating that while the company had classified KSDPL incorrectly as an associate it could not conclude that this incorrect classification resulted in an illegal gains made by the Noticees. Accordingly the final order directed the Noticees to: na File a public disclosure to the stock exchanges containing the directions of the order within 7 days of the receipt of Order. nb Disclose the financial statements and audit report for FY 202122 202223 and 202324 to the stock exchanges. nc File a report detailing the impact on the Consolidated Financial Statements of the Company for FY 202122 202223 and 202324 had KSDPL been considered a subsidiary of the Company. nd Pay monetary penalties of Rs.5 lakhs and Rs.1 lakh each under Section 15HA and 15HB of the SEBI Act within 45 days of the order. nThe Company carried out a detailed evaluation of the final order and on advice from its legal counsel filed an appeal with the SAT. The SAT on 5 November 2024 has admitted the appeal filed by the Company and has stayed the above order with respect to directions listed in points b and c above till the date of next hearing on 4 August 2025. The final order on the monetary penalties levied has been stayed on the condition that 50% of the penalties imposed are deposited by the Noticees. The Noticees on the date of the SAT stay order have deposited the said amounts. Amounts as considered necessary have been provided for by the Company. The SAT has given the Company four weeks to file its responses from date of its order. The Company has filed a public disclosure to the stock exchanges containing the directions of the final order. On 7 January 2025 SEBI filed an affidavit in response to the appeal filed with the SAT by the Company. Consequently on 8 January 2025 the Company was given two weeks to file a rejoinder and the next hearing date was set to 29 January 2025. The Company filed the rejoinder on 28 January 2025. The next hearing date was set to 21 March 2025 which was moved to 23 April 2025 and currently the matter will be heard on 4 August 2025. nIn the year ended 31 March 2022 the management had assessed that due to change in the composition of the Board of Directors of the aforesaid investee company the Holding Company lost control of the investee company and had accounted for such loss of control in accordance with the control assessment principles enunciated under Ind AS 110 Consolidated Financial Statements and accordingly the management is of the view that SEBIs contention as included in the aforesaid final order is not tenable. nBased on the Managements evaluation of loss of control and that the above mentioned final order has been stayed by the SAT no adjustments as directed by the said order has been considered in the consolidated financial results of the Company for the year ended 31 March 2025. nDuring the year ended 31 March 2022 the Royal Orchid Hotels Limited the Company had entered into arbitration in respect of one of its leased hotels in Pune with the lessor. In the quarter ended 30 September 2024 the Company received the final arbitration award in accordance with which the Company has revised the rightofuse assets and lease liability to the extent of such revised rates by Rs.337.54 lakhs. Further the Company has written back excess provision amounting to Rs.304.67 lakhs on account of such revised monthly rental. The company has filed an appeal in the quarter ended 31 December 2024 on certain aspects of the order due to which the company has not revised rightofuse asset and lease liability to such extent. nIn the board meeting held on 14 August 2024 the Board has approved the sale of Royal Orchid Maharashtra a wholly owned subsidiary. Accordingly the Property Plant and Equipment amounting to Rs. 232.72 lakhs has been classified as Assets heldforsale. nOn 22 February 2024 few shareholders comprising of 50% of the shareholding collectively called as the Tambi Group in Ksheer Sagar Developers Private Limited KSDPL filed a petition with the Honble National Company Law Tribunal NCLT under Sections 241 and 242 of the Companies Act 2013 the Act pertaining to Oppression and Mismanagement in the affairs of KSDPL. The matters raised in the said petition included matters relating to related party transactions delayed appointment of independent directors change in status of the KSDPL from subsidiary to associate wrongful conduct of independent directors process to appoint independent directors conduct of chairman of the Board of KSDPL amongst others. Amongst the various reliefs sought one of the relief sought was to halt the Extra Ordinary General Meeting EOGM on 1 March 2024 from taking place. ROHL on 28 February 2024 filed its response to the said petition with the NCLT disputing all the claims made by the Tambi Group. nThe NCLT on 29 February 2024 directed all the parties to carry out the EOGM as planned and comply with the provisions of Companies Act 2013. nThe EOGM was duly conducted on 1 March 2024 with the independent director as the Chairman. Only one business relating to the appointment of a new independent director was conducted and an ordinary resolution was duly passed. With effect from 2 March 2024 board of KSDPL has only one independent director. Also Royal Orchid Hotels Limiteds ROHL Administrative Committee has resolved that the current Independent Director shall be the Chairman in the Board and General Meetings of KSDPL. nSubsequent to the EOGM the Tambi Group filed an Interlocutory Application on 11 March 2024 with the NCLT stating that the appointment of independent director was not in accordance with the Act. A Compliance Affidavit on 16 April 2024 was filed on behalf of KSDPL submitting how the interim order of NCLT dated 29 February 2024 was complied with. On 23 May 2024 the Tambi Group filed another Interlocutory Application requesting the NCLT to halt the approval of the independent director of KSDPL as the Chairman of the Board of KSDPL. The NCLT on 28 May 2024 directed all the parties to carry out the Board Meeting as planned. During the year the Tambi group has filed various additional Interlocutory Applications with the NCLT which has been responded to by the Company and the matter is currently pending with the NCLT. The next hearing date is 29 May 2025. nIn the responses filed with the NCLT ROHL has stated before the NCLT that relevant provisions of the Act as applicable to a deemed public company are not applicable to the KSDPL. ROHL believes that there has been no change in its assessment of control as per control assessment principles enunciated under Ind AS 110 and accordingly continues to disclose and account for KSDPL as an associate in the Consolidated Financial Statements. nDuring the earlier years the management of the Group had classified a group of assets held in a wholly owned subsidiary as an asset held for sale. While the management of the Group continues to have the intention to dispose off the said investment the conditions for classification of an asset held for sale in accordance with Ind AS 105 Noncurrent Assets Held for Sale and Discontinued Operation have not been met as at 31 March 2025. Accordingly the Group has reclassified the said group of assets to NonCurrent assets. nThe Board of Directors of the Company in its meeting held on 27 May 2025 proposed a final dividend of 25% Rs. 2.5 per equity share. The proposal is subject to the approval of shareholders at the upcoming Annual General Meeting and if approved would result in a cash outflow of Rs. 685.63 lakhs. n n



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


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1306046000
Capital work-in-progress 170867000
Investment property 0
Goodwill 176397000
Other intangible assets 1046669000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 344194000
Non-current financial assets
Non-current investments 225000
Trade receivables, non-current 0
Loans, non-current 69683000
Other non-current financial assets 886244000
Total non-current financial assets 956152000
Deferred tax assets (net) 122466000
Other non-current assets 28321000
Total non-current assets 4151112000
2 Current assets
Inventories 27314000
Current financial asset
Current investments 0
Trade receivables, current 371956000
Cash and cash equivalents 266674000
Bank balance other than cash and cash equivalents 301227000
Loans, current 5840000
Other current financial assets 112979000
Total current financial assets 1058676000
Current tax assets (net) 583000
Other current assets 120886000
Total current assets 1207459000
3 Non-current assets classified as held for sale 23272000
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 5381843000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 274252000
Other equity 2033891000
Total equity attributable to owners of parent 2308143000
Non controlling interest 162640000
Total equity 2470783000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 789079000
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 789079000
Provisions, non-current 30035000
Deferred tax liabilities (net) 2047000
Deferred government grants, Non-current 0
Other non-current liabilities 1098140000
Total non-current liabilities 1919301000
Current liabilities
Current financial liabilities
Borrowings, current 210982000
Trade payables, 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 329878000
Total Trade payable 329878000
Other current financial liabilities 284794000
Total current financial liabilities 825654000
Other current liabilities 127875000
Provisions, current 25498000
Current tax liabilities (Net) 12732000
Deferred government grants, Current
Total current liabilities 991759000
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 2911060000
Total equity and liabilites 5381843000
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 Consolidated Consolidated
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 Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 items that will not be reclassified to profit or loss -8136000 -8000
Total Amount of items that will not be reclassified to profit and loss -8136000 -8000
2 Income tax relating to items that will not be reclassified to profit or loss -650000 -650000
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 163000 163000
5 Total Other comprehensive income -7649000 479000



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 Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 594809000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 50918000
Adjustments for decrease (increase) in inventories -1572000
Adjustments for decrease (increase) in trade receivables, current -55182000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -612339000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 114787000
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 86956000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 31676000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 207267000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 2611000
Adjustments for provisions, non-current 12466000
Adjustments for other financial liabilities, current -55495000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 176000
Adjustments for dividend income 0
Adjustments for interest income 38344000
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) 587000
Other adjustments for non-cash items -3255000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -258743000
Net cash flows from (used in) operations 336066000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 89151000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 246915000
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 233047000
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 43838000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -29793000
Net cash flows from (used in) investing activities -219002000
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 17132000
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 533037000
Repayments of borrowings 204339000
Payments of lease liabilities 200825000
Dividends paid 68563000
Interest paid 42476000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -298000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 27615000
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 27615000
Cash and cash equivalents cash flow statement at beginning of period 239059000
Cash and cash equivalents cash flow statement at end of period 266674000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified 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
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 Walker Chandiok & Co LLP Yes 27-May-2025


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 3431769000 0
2 Total Expenditure 2836960000 0
3 Net Profit/(Loss) 474969000 0
4 Earnings Per Share 17.23 0
5 Total Assets 5381843000 0
6 Total Liabilities 2911060000 0
7 Net Worth 2470783000 0


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) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)


Text Block
Textual Information(1) Following qualifications have been given by the Auditors in the audit report non Standalone Financial Results of the Company nAs described in Note 8 to the accompanying Statement, certain shareholders of Ksheer Sagar Developers nPrivate Limited KSDPL, an associate of the Company, together holding 50percent of voting power in such nin vestee company, had filed a petition before the Hon'ble National Company Law Tribunal NCLT under nSections 241 and 242 of the Act with respect to certain allegations against the Group as detailed in the said nnote. Further as described in the said note, the management in the previous year in its response to NCLT nhad considered KSDPL as a private company, instead of considering it as a deemed public company for nassessing applicability of the compliance requirements under the Act. nConsidering the aforesaid ongoing litigation between the shareholders of KSDPL in respect of the allegations nraised in the said petition, the outcome of which is presently unascertainable, and inconsistent legal nassessment with respect to status of KSDPL under the Act we are unable to comment upon the legal ncompliance by KSDPL with respect to applicable provisions of the Act.
Textual Information(2) NA
Textual Information(3) NA
Textual Information(4) The likely impact if any will only be known upon adjudication of the ongoing litigation by the Honble NCLT.
Textual Information(5) Considering the ongoing litigation between the shareholders of KSDPL in respect of the allegations raised in the petition filed with the Honble NCLT the outcome of which is presently unascertainable and inconsistent legal assessment with respect to status of KSDPL under the Act we are unable to comment upon the legal compliance by the KSDPL with respect to applicable provisions of the Act.


Signatories detail
Name of CEO / Managing director Chander K Baljee
Name of CFO Amit Jaiswal
Name of audit committee chairman Ashutosh Chairman
Name of statutory auditor Walker Chandiok & CO LLP
Name of other signatory, if any, with designation Hemant Maheshwari
Place Bangalore
Date 27-May-2025