Integrated Filing — IndAS



General information about company
Scrip Code 532654
NSE Symbol MCLEODRUSS
MSEI Symbol NOTLISTED
ISIN INE942G01012
Name of company McLEOD RUSSEL INDIA 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 29-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 23-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 Tea Manufacturing Company
Start date and time of board meeting 29-May-2025   15:00:00
End date and time of board meeting 29-May-2025   18:55:00
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
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://www.mcleodrussel.com/pdf/investor/policies/related-party-transaction-policy.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? 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? Yes



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 1278900000 10243600000
Other income 7700000 23100000
Total income 1286600000 10266700000
2 Expenses
(a) Cost of materials consumed -9300000 -8500000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 818700000 -27000000
(d) Employee benefit expense 1355800000 6977000000
(e) Finance costs 651800000 2101200000
(f) Depreciation, depletion and amortisation expense 128500000 503400000
(f) Other Expenses
1 Other Expenses 336900000 3081600000
Total other expenses 336900000 3081600000
Total expenses 3282400000 12627700000
3 Total profit before exceptional items and tax -1995800000 -2361000000
4 Exceptional items 0 0
5 Total profit before tax -1995800000 -2361000000
6 Tax expense
7 Current tax 0 0
8 Deferred tax -301400000 -397400000
9 Total tax expenses -301400000 -397400000
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 -1694400000 -1963600000
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 -1694400000 -1963600000
17 Other comprehensive income net of taxes 10200000 41300000
18 Total Comprehensive Income for the period -1684200000 -1922300000
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 522300000 522300000
Face value of equity share capital 5 5
27 Details of debt securities
22 Reserves excluding revaluation reserve -3417400000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -16.22 -18.8
Diluted earnings (loss) per share from continuing operations -16.22 -18.8
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 -16.22 -18.8
Diluted earnings (loss) per share from continuing and discontinued operations -16.22 -18.8
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
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 Standalone
Assets
1 Non-current assets
Property, plant and equipment 8951900000
Capital work-in-progress 362400000
Investment property 1596700000
Goodwill 0
Other intangible assets 100000
Intangible assets under development
Biological assets other than bearer plants 15500000
Investments accounted for using equity method
Non-current financial assets
Non-current investments 583500000
Trade receivables, non-current 0
Loans, non-current 18501100000
Other non-current financial assets 392400000
Total non-current financial assets 19477000000
Deferred tax assets (net) 446700000
Other non-current assets 139700000
Total non-current assets 30990000000
2 Current assets
Inventories 687100000
Current financial asset
Current investments 0
Trade receivables, current 361900000
Cash and cash equivalents 49800000
Bank balance other than cash and cash equivalents 3100000
Loans, current 57200000
Other current financial assets 118700000
Total current financial assets 590700000
Current tax assets (net) 82400000
Other current assets 615300000
Total current assets 1975500000
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 32965500000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 522300000
Other equity -1018200000
Total equity attributable to owners of parent -495900000
Non controlling interest
Total equity -495900000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0
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 0
Provisions, non-current 1123800000
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities 36700000
Total non-current liabilities 1160500000
Current liabilities
Current financial liabilities
Borrowings, current 17660700000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 152600000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 745900000
Total Trade payable 898500000
Other current financial liabilities 10467800000
Total current financial liabilities 29027000000
Other current liabilities 2296300000
Provisions, current 875500000
Current tax liabilities (Net) 102100000
Deferred government grants, Current
Total current liabilities 32300900000
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 33461400000
Total equity and liabilites 32965500000
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 Remeasurments of post-employment defined benefit plan 272100000 120200000
2 Change in Fair Value of Equity instruments through other compensive income -174900000 -40500000
3 Income tax relating to items that will not be reclassified to profit or loss -87000000 -38400000
Total Amount of items that will not be reclassified to profit and loss 10200000 41300000
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income 10200000 41300000



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 -2361000000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 2101200000
Adjustments for decrease (increase) in inventories -213200000
Adjustments for decrease (increase) in trade receivables, current 45900000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -68400000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current -163500000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 15200000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 532500000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 503400000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current -49500000
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains -900000
Adjustments for dividend income 0
Adjustments for interest income 0
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 25800000
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow -19500000
Other adjustments to reconcile profit (loss) 57500000
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) 2766500000
Net cash flows from (used in) operations 405500000
Dividends received -1700000
Interest paid 0
Interest received -2200000
Income taxes paid (refund) 112500000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 289100000
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 16400000
Purchase of property, plant and equipment 228400000
Proceeds from sales of investment property -12000000
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 1700000
Interest received 2200000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -600000
Net cash flows from (used in) investing activities -220700000
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 0
Repayments of borrowings 0
Payments of lease liabilities 0
Dividends paid 0
Interest paid 43400000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -200000
Net cash flows from (used in) financing activities -43600000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 24800000
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 24800000
Cash and cash equivalents cash flow statement at beginning of period 25000000
Cash and cash equivalents cash flow statement at end of period 49800000





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 Adverse 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 M/S LODHA & CO. LLP Yes 31-Mar-2027


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 10266700000 10266700000
2 Total Expenditure 12627700000 13873100000
3 Net Profit/(Loss) -1963600000 -3209000000
4 Earnings Per Share -18.8 -30.72
5 Total Assets 32965500000 32965500000
6 Total Liabilities 33461400000 34706800000
7 Net Worth -495900000 -1741300000


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) Adverse opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Adverse opinion Repetitive Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)
3 Textual Information(11) Adverse opinion Repetitive Textual Information(12) Textual Information(13) Textual Information(14) Textual Information(15)
4 Textual Information(16) Adverse opinion Repetitive Textual Information(17) Textual Information(18) Textual Information(19) Textual Information(20)
5 Textual Information(21) Adverse opinion Repetitive Textual Information(22) Textual Information(23) Textual Information(24) Textual Information(25)
6 Textual Information(26) Adverse opinion Whether appeared first time Textual Information(27) Textual Information(28) Textual Information(29) Textual Information(30)
7 Textual Information(31) Adverse opinion Repetitive Textual Information(32) Textual Information(33) Textual Information(34) Textual Information(35)


Text Block
Textual Information(1) Note 4 dealing with Inter Corporate Deposits (ICD) aggregating to Rs. 2,86,050 lakhs (including interest accrued till March 31, 2019) as on March 31, 2025 given to promoter group and certain other entities which are doubtful of recovery and considering recoverability etc. are prejudicial to the interest of the company. Provision of Rs. 1,01,039 lakhs had been made thereagainst in earlier years. In absence of ascertainment of the shortfall and provision against the remaining amount, the loss for the period is understated to that extent. Impact in this respect as stated in the said note have not been ascertained by the management and recognised in these financial results.
Textual Information(2) In respect of Inter Corporate Deposits (ICDs) given to Promoter group and certain other entities (borrowing companies), the amount outstanding aggregates to Rs. 2,76,109 Lakhs as at March 31, 2025. Further, interest of Rs.9,941 lakhs on these amounts accrued upto March 31, 2019 are also outstanding as on this date. Interest on such ICDs considering the waiver sought by borrower companies and uncertainties involved with respect to recovery and determination of amount thereof, have not been accrued since April 01, 2019. These borrowing companies in turn advanced the amount so taken by them to Promoter Group and other entities mainly to provide financial support to one of the promoter group company against which Corporate Insolvency and Resolution Process (CIRP) as per the Insolvency and Bankruptcy Code, 2016 (IBC) was subsequently initiated and the Resolution Plan as approved by the Honble National Company Law Tribunal (NCLT), Kolkata is currently under implementation. The company has filed legal suit before Honble Calcutta High Court for recovery of ICD from a promoter group entity and is in the process of initiating such proceedings against other entities as well for recovery of the amounts being overdue from them. Provision of Rs. 1,01,039 lakhs (including interest of Rs. 9,941 lakhs accrued upto March 31, 2019) made in earlier years on lumpsum basis without prejudice to the companys legal right to recover the amounts given by it has been carried forward during the period and adjustments considering the amount finally recoverable against outstanding amounts of ICDs is pending determination as on this date. Pending this and the resolution with respect to the companys borrowing as dealt with in Note 6 of the financial results, impact with respect to the shortfall in this respect have not been ascertained and given effect to in these financial results for the year ended March 31, 2025.
Textual Information(3) Not Applicable
Textual Information(4) The outstanding dues, net of provision thereagainst, as mentioned above, shall be adjusted and/or restructured on completion of the resolution with respect to companys borrowing by the lenders as dealt with in Note no. 6 of the financial results. Impacts if any in this respect will be given effect to on determination of the amount in this respect and no further provision/adjustment has been considered at this stage.
Textual Information(5) In absence of ascertainment and provision against the remaining amount, the loss for the period is understated to that extent.
Textual Information(6) Note 9(b) regarding non-recognition of Interest on loans, Inter Corporate Deposits and other amounts taken by the company and thereby the loss for the period is understated to the extent indicated in said note and non-determination of interest and other consequential adjustments/disclosures in absence of relevant terms and conditions in respect of certain advances being so claimed by customers as stated therein. Further, as stated in Notes 9(a) and 9(b), penal/compound interest and other adjustments in respect of borrowings from Asset Reconstruction Companies (ARCs), a Bank and ICDs etc. have not been recognised and amount payable to lenders and other parties as recognised in this respect are subject to confirmation from respective parties and consequential reconciliation. Pending final determination of amount with respect to these, adjustments and impacts arising therefrom have not been ascertained and as such cannot be commented upon by us.
Textual Information(7) Not Quantified
Textual Information(8) Not Quantifiable
Textual Information(9) The company submits that pending resolution by the lenders with respect to the borrowings of the company as dealt with in Note 6 of the financial results and consequential adjustment in this respect, Interest on borrowings from ARCs and a bank have been continued to be provided on simple interest basis based on the rates specified in term sheet or otherwise stipulated/ advised from time to time and penal/ compound interest if any has not been considered. Further, amount repaid to lenders and/or recovered by them including by invoking securities and cut back payments from the sale proceeds of the tea etc., in earlier years have been adjusted against principal amount outstanding. The amount payable to the lenders in respect of outstanding amounts of borrowing including interest thereagainst is subject to confirmation and determination and consequential reconciliation and resolution to be arrived at as dealt with in Note 6 and will accordingly be dealt with on determination thereof. n nPenal interest / compound interest has not yet been confirmed by lenders. Further, the amount of interest would be finalised as agreed upon by the lenders on approval of the resolution plan and amount payable will then be ascertained and given effect to in the accounts. n
Textual Information(10) Pending final determination of amount with respect to these, adjustments and impacts arising therefrom have not been ascertained and as such cannot be commented upon by us.
Textual Information(11) Note 10 regarding non reconciliation/disclosure of certain debit and credit balances with individual details and confirmations etc. including borrowings and interest thereupon as dealt with in Note 9. Adjustments/ Impacts with respect to these are currently not ascertainable and as such cannot be commented upon by us.
Textual Information(12) Not Quantified
Textual Information(13) Not quantifiable
Textual Information(14) The Company submits that it has 33 tea estates/ factories and 2 offices and therefore it is practically not feasible to reconcile the entire balances and such reconciliation is an ongoing process. Impact will thus become ascertainable only upon reconciliations and confirmations. However, during the year certain account balances which were under reconciliation have been reconciled and required adjustments thereof have been given effect to in this year.
Textual Information(15) Adjustments/ Impacts with respect to these are currently not ascertainable and as such cannot be commented upon by us.
Textual Information(16) Note 9(c) regarding non-determination and recognition of amount payable in respect of lease rent for office premises. Pending final determination of amount payable, adjustments and impacts arising therefrom as stated in the said note have not been ascertained and as such cannot be commented upon by us.
Textual Information(17) Not quantified
Textual Information(18) Not quantifiable
Textual Information(19) Lease Agreement in respect of premises having registered and corporate office of the company has expired on August 31, 2022 and terms thereof are yet to be finalised with the lessor. Pending this, the amount of rent payable by the company including the adjustments towards the cost of maintenance etc. of the premises currently being undertaken by the company being non-determinable as such has not been recognised in these financial results.
Textual Information(20) Pending final determination of amount payable, adjustments and impacts arising therefrom as stated in the said note have not been ascertained and as such cannot be commented upon by us
Textual Information(21) Note 7 regarding non-determination of fair value of the Property, Plant and Equipment, Capital Work in Progress and Investment in subsidiary and impairment if any to be recognized thereagainst for the reasons stated in the said note. Adjustments/ Impacts with respect to these are currently not ascertainable and as such cannot be commented upon by us.
Textual Information(22) Not quantified
Textual Information(23) Not quantifiable
Textual Information(24) As stated in Note no. 6 of the financial results, the Company has been incurring significant amount of losses and its current liabilities are in excess of the current assets. Considering these indicators and circumstances stated in the said note, fair Value of Property, Plant and Equipment and Capital Work in progress (CGU) are required to be assessed for testing of Impairment thereagainst. Further, the company has investment of Rs. 15,967 lakhs in Borelli Tea Holdings Limited (BTHL) which are also required to be tested for impairment as on March 31, 2025. BTHL has substantial investment in its wholly owned subsidiary Mcleod Russel Uganda Limited (MRUL) which has been incurring cash losses and it's current liabilities is in excess of current assets. Certain loans taken by MRUL has currently been restructured so that to rebuild the value of business on completion of the tenure as specified for the restructuring. Pending resolution with respect to companys borrowing as stated in Note no. 6 of the financial results, impairment if any in the value of CGU and Investments as such, have not been determined and recognised in these financial results.
Textual Information(25) Adjustments/ Impacts with respect to these are currently not ascertainable and as such cannot be commented upon by us.
Textual Information(26) Note 9(d) dealing with statutory liabilities outstanding as at the end of the period and non-determination of adjustments to be given effect to in this respect if any including interest as stated in the said note. Pending final determination of amount, adjustments and impacts arising therefrom as stated in the said note have not been ascertained and as such cannot be commented upon by us.
Textual Information(27) Not quantified
Textual Information(28) Not quantifiable
Textual Information(29) The company has statutory liabilities lying unpaid as on March 31, 2025 and in certain cases demands have been received from the authorities. Necessary representations including for settling the arrear amount over a period of time have been made to the authorities explaining the financial stringencies currently being faced by it and the resolution plan under consideration of NARCL (as stated in Note 6 of the financial results) and the amount of interest etc. thereagainst has not been recognised in these financial results. The amounts as demanded are also subject to reconciliation with the books of accounts of the respective tea estates and adjustments/ impact in this respect are therefore currently not ascertainable.
Textual Information(30) Adjustments/ Impacts with respect to these are currently not ascertainable and as such cannot be commented upon by us.
Textual Information(31) As stated in Note 8, the predecessor auditor pertaining to the financial year ended March 31, 2019 in respect of the loans included under Qualification 1 above have reported that it includes amounts given to group companies whereby applicability of Section 185 of the Companies Act, 2013 could not be ascertained and commented upon by them. They were not able to ascertain if the aforesaid promoter companies could, in substance, be deemed to be related parties to the Company in accordance with paragraph 10 of Ind AS-24 Related Party Disclosures. Further, certain ICDs as reported were in the nature of book entries and/or are prejudicial to the interest of the company. Moreover, in case of advance of Rs. 1,400 lakhs to a body corporate which had subsequently been fully provided for, appropriate audit evidences as stated were not made available. These amounts are outstanding as on this date and status thereof have remained unchanged and uncertainty and related concerns including utilisation thereof and being prejudicial to the interest of the company are valid for periods subsequent to March 31, 2019 including current period also. The matter as reported is under examination and pending before regulatory authorities. Pending final outcome of the matter under examination we are unable to ascertain the impact of non-compliances and comment on the same.
Textual Information(32) Not quantified
Textual Information(33) Not quantifiable
Textual Information(34) The matter as reported is pending before regulatory authorities.
Textual Information(35) Pending final outcome of the matter under examination we are unable to ascertain the impact of non-compliances and comment on the same.


Signatories detail
Name of CEO / Managing director MR. ADITYA KHAITAN
Name of CFO MR. PRADIP BHAR
Name of audit committee chairman MR. AMAR NATH DHAR
Name of statutory auditor MR. VIKRAM MATTA, PARTNER M/S LODHA & CO. LLP, CHARTERED ACCOUNTANTS
Name of other signatory, if any, with designation
Place KOLKATA
Date 29-May-2025


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 McLEOD RUSSEL INDIA LIMITED Mr. Aditya Khaitan Chairman and Managing Director Remuneration Approved 18430000 4907000 6810000
2 McLEOD RUSSEL INDIA LIMITED Mr. Pradip Bhar Chief Financial Officer Remuneration Approved 5266000 0 0
3 McLEOD RUSSEL INDIA LIMITED Mr. Alok Kumar Samant Company Secretary and Compliance Officer Remuneration Approved 1387000 0 0
4 McLEOD RUSSEL INDIA LIMITED Ms. Kavita Khaitan Wife of Aditya Khaitan Remuneration Approved 1522000 282000 499000
5 McLEOD RUSSEL INDIA LIMITED Mr. Akhil Khaitan Son of Aditya Khaitan Remuneration Approved 899000 146000 294000
6 McLEOD RUSSEL INDIA LIMITED Ms. Apurvi Jalan Daughter of Aditya Khaitan Remuneration Approved 1386000 0 568000
7 McLEOD RUSSEL INDIA LIMITED McLeod Russel Middle East DMCC Step Down Subsidiary (Foreign) Sale of goods or services Not Applicable - Exempted 9854000 6351000 9722000
8 McLEOD RUSSEL INDIA LIMITED Borelli Tea Holdings Limited Wholly Owned Subsidiary (Foreign) Investment Not Applicable - Exempted 0 1596718000 1596718000
9 McLEOD RUSSEL INDIA LIMITED D1 Williamson Magor Bio Fuel Limited Associate due to shareholding Loan Approved 200000000 551420000 751420000
10 McLEOD RUSSEL INDIA LIMITED Ichamati Investments Limited Promoter Group Loan Approved 0 556519000 556519000
11 McLEOD RUSSEL INDIA LIMITED Soom Stud Farm Private Limited KMP have significant influence or control Loan Approved 0 10000000 10000000
12 McLEOD RUSSEL INDIA LIMITED UNITED MACHINE CO. LTD. Pomoter Group Loan Approved -80000000 150000000 70000000
13 McLEOD RUSSEL INDIA LIMITED Mr. Amritanshu Khaitan Non - Executive Director Any other transaction Sitting Fee Approved 200000 0 0
14 McLEOD RUSSEL INDIA LIMITED Mr. Sanjay Ginodia Non - Executive Independent Director Any other transaction Sitting Fee Approved 280000 0 0
15 McLEOD RUSSEL INDIA LIMITED Ms. Rupanjana De Non - Executive Independent Director Any other transaction Sitting Fee Approved 400000 0 0
16 McLEOD RUSSEL INDIA LIMITED Mr. Amar Nath Dhar Non - Executive Independent Director Any other transaction Sitting Fee Approved 360000 0 0
17 McLEOD RUSSEL INDIA LIMITED Mr. Indrajit Sengupta Non - Executive Independent Director Any other transaction Sitting Fee Approved 360000 0 0
18 McLEOD RUSSEL INDIA LIMITED Borelli Tea Holdings Limited Wholly Owned Subsidiary (Foreign) Loan Approved 0 192066000 192066000
19 McLEOD RUSSEL INDIA LIMITED Dufflaghur Investments Limited Promoter Group Loan Approved 10000000 0 10000000 Textual Information(1)
20 McLEOD RUSSEL INDIA LIMITED Bishnauth Investments Limited Promoter Group Loan Approved 70000000 0 70000000 Textual Information(2)
21 McLEOD RUSSEL INDIA LIMITED Seajuli Investments Private Limited Promoter Group Loan Approved 100000000 0 100000000 Textual Information(3)
Total value of transaction during the reporting period 340344000



Text Block
Textual Information(1) Loan of UMC assigned
Textual Information(2) Loan of UMC assigned
Textual Information(3) For fulfiling repayment obligations


Format for Disclosing Outstanding Default on Loans and Debt Securities
Sr. No. Particulars Amount Remarks
1. Loans / revolving facilities like cash credit from banks / financial institutions
A Total amount outstanding as on date 146107000
B Of the total amount outstanding, amount of default as on date 146107000
2. Unlisted debt securities i.e. NCDs and NCRPS
A Total amount outstanding as on date 0
B Of the total amount outstanding, amount of default as on date 0
3. Total financial indebtedness of the listed entity including short-term and long-term debt 176607000