Integrated Filing — IndAS



General information about company
Scrip Code 532357
NSE Symbol MUKTAARTS
MSEI Symbol NOTLISTED
ISIN INE374B01019
Name of company Mukta Arts 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 28-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 16-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 Multi segment
Description of single segment
Start date and time of board meeting 28-May-2025   12:30:00
End date and time of board meeting 28-May-2025   13:40:00
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 381145000 1667236000
Other income 70126000 131481000
Total income 451271000 1798717000
2 Expenses
(a) Cost of materials consumed 11999000 69157000
(b) Purchases of stock-in-trade -463000 -1801000
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0 0
(d) Employee benefit expense 107903000 404591000
(e) Finance costs 35524000 135183000
(f) Depreciation, depletion and amortisation expense 50537000 189170000
(f) Other Expenses
1 Distributor and Producer Shares 63891000 372990000
2 Other Direct Operation Expenses -3371000 7215000
3 Other Expenses 208920000 772333000
Total other expenses 269440000 1152538000
Total expenses 474940000 1948838000
3 Total profit before exceptional items and tax -23669000 -150121000
4 Exceptional items -3565000 -3565000
5 Total profit before tax -27234000 -153686000
6 Tax expense
7 Current tax 1600000 8700000
8 Deferred tax 12978000 10497000
9 Total tax expenses 14578000 19197000
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 -41812000 -172883000
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 -187000 -226000
16 Total profit (loss) for period -41999000 -173109000
17 Other comprehensive income net of taxes 1481000 1481000
18 Total Comprehensive Income for the period -40518000 -171628000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0 0
Total profit or loss, attributable to non-controlling interests 0 0
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 1481000 1481000
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
21 Details of equity share capital
Paid-up equity share capital 112926000 112926000
Face value of equity share capital 5 5
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 -1.79 -7.6
Diluted earnings (loss) per share from continuing operations -1.79 -7.6
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 -1.79 -7.6
Diluted earnings (loss) per share from continuing and discontinued operations -1.79 -7.6
24 Debt equity ratio -0.017 -0.017
25 Debt service coverage ratio 0.007 0.009
26 Interest service coverage ratio 0 0
27 Disclosure of notes on financial results



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


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 603063000
Capital work-in-progress 36423000
Investment property 124847000
Goodwill 0
Other intangible assets 101005000
Intangible assets under development 112208000
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 44551000
Trade receivables, non-current
Loans, non-current 0
Other non-current financial assets 643565000
Total non-current financial assets 688116000
Deferred tax assets (net) 17598000
Other non-current assets 150616000
Total non-current assets 1833876000
2 Current assets
Inventories 13459000
Current financial asset
Current investments 176552000
Trade receivables, current 20601000
Cash and cash equivalents 23447000
Bank balance other than cash and cash equivalents 46758000
Loans, current 126778000
Other current financial assets 80447000
Total current financial assets 474583000
Current tax assets (net)
Other current assets 102172000
Total current assets 590214000
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 2424090000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 112926000
Other equity -574202000
Total equity attributable to owners of parent -461276000
Non controlling interest 70689000
Total equity -390587000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 580653000
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 649596000
Total non-current financial liabilities 1230249000
Provisions, non-current 65172000
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities 467028000
Total non-current liabilities 1762449000
Current liabilities
Current financial liabilities
Borrowings, current 66566000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 8709000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 381073000
Total Trade payable 389782000
Other current financial liabilities 193588000
Total current financial liabilities 649936000
Other current liabilities 312691000
Provisions, current 89601000
Current tax liabilities (Net)
Deferred government grants, Current
Total current liabilities 1052228000
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 2814677000
Total equity and liabilites 2424090000
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)
1 Software Division 23044000 119890000
2 Equipment Division 940000 3345000
3 Theatrical Exhibition Division 243288000 1003230000
4 Education 160901000 582911000
5 Others 20949000 79935000
Total Segment Revenue 449122000 1789311000
Less: Inter segment revenue
Revenue from operations 449122000 1789311000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Software Division 23546000 30588000
2 Equipment Division 618000 2714000
3 Theatrical Exhibition Division -20163000 -111145000
4 Education -4827000 -36042000
5 Others 12981000 60640000
Total Profit before tax 12155000 -53245000
i. Finance cost 35524000 35524000
ii. Other Unallocable Expenditure net off Unallocable income 300000 300000
Profit before tax -23669000 -150121000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Software Division 189668000 189668000
2 Equipment Division 10953000 10953000
3 Theatrical Exhibition Division 1030926000 1030926000
4 Education 543583000 543583000
5 Others 143058000 143058000
Total Segment Asset 1918188000 1918188000
Un-allocable Assets 505903000 505903000
Net Segment Asset 2424091000 2424091000
4 Segment Liabilities
Segment Liabilities
1 Software Division 473161000 473161000
2 Equipment Division 0 0
3 Theatrical Exhibition Division -214654000 -214654000
4 Education 453700000 453700000
5 Others 31715000 31715000
Total Segment Liabilities 743922000 743922000
Un-allocable Liabilities 1218894000 1218894000
Net Segment Liabilities 1962816000 1962816000
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 Other comprehensive income 1481000 1481000
Total Amount of items that will not be reclassified to profit and loss 1481000 1481000
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 0 0
5 Total Other comprehensive income 1481000 1481000



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 -153686000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 135183000
Adjustments for decrease (increase) in inventories 9356000
Adjustments for decrease (increase) in trade receivables, current -96854000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 14440000
Adjustments for decrease (increase) in other non-current assets -37087000
Adjustments for other financial assets, non-current 11047000
Adjustments for other financial assets, current 38018000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 54196000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -21685000
Adjustments for increase (decrease) in other non-current liabilities 571265000
Adjustments for depreciation and amortisation expense 189170000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 14982000
Adjustments for provisions, current -39375000
Adjustments for provisions, non-current -1959000
Adjustments for other financial liabilities, current -16334000
Adjustments for other financial liabilities, non-current -16588000
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 16342000
Adjustments for share-based payments -1876000
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) 0
Other adjustments for non-cash items 3565000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 793122000
Net cash flows from (used in) operations 639436000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 403195000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 236241000
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 12574000
Purchase of property, plant and equipment 78562000
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 16342000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 20391000
Net cash flows from (used in) investing activities -29255000
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 17007000
Repayments of borrowings 92492000
Payments of lease liabilities 0
Dividends paid 0
Interest paid 135183000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -210668000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -3682000
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 -3682000
Cash and cash equivalents cash flow statement at beginning of period 26908000
Cash and cash equivalents cash flow statement at end of period 23226000





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 Uttam Abuwala Ghosh & Associates Yes 31-Mar-2026


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 1798717000 1798717000
2 Total Expenditure 1948838000 1948838000
3 Net Profit/(Loss) -150347000 -150347000
4 Earnings Per Share -7.6 -7.6
5 Total Assets 2424091000 2424091000
6 Total Liabilities 2814677000 2814677000
7 Net Worth -390587000 -390587000


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) 1.tAs at March 31, 2025, the companys investment in its subsidiary (including deemed investment), Whistling woods International Limited (WWIL) a joint venture between the company and Maharashtra Film, Stage and Cultural Development Corporation Limited (MFSCDCL), aggregates to Rs. 19,95,11,218/- and loans and advances, deposits, interest receivable and rent receivable aggregate to Rs. 64,13,83,146/- recoverable from WWIL. As fully explained in Note 43 to the accompanying audited financial statements, the Order of February 9, 2012 passed by the High Court of judicature at Bombay (High Court), had quashed the joint Venture Agreement (JVA) between the company and Maharashtra Film Stage Cultural Development Corporation (MFSCDCL). Maharashtra Film Stage and Cultural Development Corporation (MFSCDC) raised net demand of Rs. 59,19,66,210/- and asked WWIL to vacate the premises. WWILs petition for special leave to appeal filed with the Supreme Court of India had also been dismissed. n nThe Company and WWIL had filed application to review the said order with the High Court and an Interim stay was granted on July 30, 2014 which required deposit of Rs.10,00,38,000/- by January 2015 against payment of arrears of rent for the year 2000-01 to 2013-14 and payment of Rs.45,00,000/- per annum from Financial Year 2014-15 till the settlement of the case, to MFSCDCL. As per the terms of the said Order, till financial year 2016-17, Rs. 11,35,38,000/- has been paid by the Holding Company and for financial year 2017-18 to 2021-22 Rs. 45,00,000/- per annum has been paid by WWIL. The State Govt. of Maharashtra and MFSCDCL challenged the order of the High Court in the Supreme Court which was dismissed by the Supreme Court on September 22, 2014. The amount so paid / being paid by the Company have been accounted under Non - Current Other Financial Assets in the Consolidated Financial Statements to be adjusted on the settlement of the case. Management of WWIL informs that these will be accounted as an expense, if required, on the settlement of the case. n n nAdditionally, without giving effect to the matter as stated above, WWILs net worth stands fully eroded as at March 31, 2025. Having regard to the circumstances explained above and pending final outcome of the matter under litigation, the Company has not made any adjustment to the carrying value of investment in and amounts due from WWIL and the deposit paid consequent to the High Courts Orders. Accordingly, the impact on the carrying value of investments, recoverability of loans and advances and consequential impact on loss for the year and reserves is not determinable. n n2.tThe Ministry of Corporate Affairs (MCA) on March 30, 2019 notified Ind AS 116 Leases as part of Companies (Indian Accounting Standards) Amendment Rules, 2019. The new standard is effective from reporting periods beginning on or after April 1, 2019. Pending final outcome of the matter under litigation as mentioned above, no adjustment has been made in WWILs Financial Statements with respect to Ind AS 116 on the land rights. n
Textual Information(2) Not Applicable
Textual Information(3) Not Applicable
Textual Information(4) Having regard to the circumstances and pending final outcome of the matter under litigation, the Company has not made any adjustment to the carrying value of investment in and amounts due from WWIL and the deposit paid consequent to the High Courts Orders. Accordingly, the impact on the carrying value of investments, recoverability of loans and advances and consequential impact on loss for the year and reserves is not determinable. Further, the management of WWIL believes that it is appropriate to prepare the financial statements on a going-concern basis based on its assessment of the merits of the case, plans for the future and support provided by its holding company.
Textual Information(5) As per the explanation provided by the Management in point (ii) above, the impact on the carrying value of investments, recoverability of loans and advances and consequential impact on loss for the year and reserves is not determinable.


Signatories detail
Name of CEO / Managing director Rahul Puri
Name of CFO Jabir Contractor
Name of audit committee chairman Kapil Bagla
Name of statutory auditor Uttam Abuwala Ghosh & Associates
Name of other signatory, if any, with designation Subhash Jhunjhunwala
Place Mumbai
Date 28-May-2025