Integrated Filing — IndAS



General information about company
Scrip Code 532710
NSE Symbol SADBHAV
MSEI Symbol NOTLISTED
ISIN INE226H01026
Name of company SADBHAV ENGINEERING 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 20-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 The segment reporting is in accordance with its internal financial reports derived from SAP system which is reviewed by Chief Operating Decision Maker (CODM). Consequently, the Company has considered business as whole as a single operating segment in accordance with Indian Accounting Standard (‘Ind AS’) 108.
Start date and time of board meeting 29-May-2025   21:00:00
End date and time of board meeting 29-May-2025   23:00:00
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 2025-02-14
Indicate Company website link for updated RPT policy of the Company www.sadbhaveng.com
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? 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 367760000 2105310000
Other income 181019000 454659000
Total income 548779000 2559969000
2 Expenses
(a) Cost of materials consumed 13960000 38235000
(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 35923000 180541000
(e) Finance costs 423665000 1565951000
(f) Depreciation, depletion and amortisation expense 20775000 93928000
(f) Other Expenses
1 Construction Expenses 408930000 1532510000
2 Other expenses 227918000 522376000
Total other expenses 636848000 2054886000
Total expenses 1131171000 3933541000
3 Total profit before exceptional items and tax -582392000 -1373572000
4 Exceptional items -8489000 254403000
5 Total profit before tax -590881000 -1119169000
6 Tax expense
7 Current tax 0 10667000
8 Deferred tax 384543000 405640000
9 Total tax expenses 384543000 416307000
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 -975424000 -1535476000
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 -975424000 -1535476000
17 Other comprehensive income net of taxes 3106000 -1167000
18 Total Comprehensive Income for the period -972318000 -1536643000
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 171571000 171571000
Face value of equity share capital 1 1
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 -5.69 -8.95
Diluted earnings (loss) per share from continuing operations -5.69 -8.95
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 -5.69 -8.95
Diluted earnings (loss) per share from continuing and discontinued operations -5.69 -8.95
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 220193000
Capital work-in-progress 42656000
Investment property 0
Goodwill 0
Other intangible assets 7636000
Intangible assets under development 0
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 6137837000
Trade receivables, non-current 316110000
Loans, non-current 728766000
Other non-current financial assets 1530346000
Total non-current financial assets 8713059000
Deferred tax assets (net) 605927000
Other non-current assets 99931000
Total non-current assets 9689402000
2 Current assets
Inventories 36414000
Current financial asset
Current investments 0
Trade receivables, current 2895592000
Cash and cash equivalents 20991000
Bank balance other than cash and cash equivalents 32329000
Loans, current 3977357000
Other current financial assets 1453862000
Total current financial assets 8380131000
Current tax assets (net) 220383000
Other current assets 8669411000
Total current assets 17306339000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 26995741000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 171571000
Other equity 8305473000
Total equity attributable to owners of parent 8477044000
Non controlling interest
Total equity 8477044000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 2339991000
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 2906000
Total non-current financial liabilities 2342897000
Provisions, non-current 0
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 2342897000
Current liabilities
Current financial liabilities
Borrowings, current 9669572000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 56593000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 2783634000
Total Trade payable 2840227000
Other current financial liabilities 2414757000
Total current financial liabilities 14924556000
Other current liabilities 1251244000
Provisions, current 0
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 16175800000
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 18518697000
Total equity and liabilites 26995741000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss -3106000 1167000
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 3106000 -1167000



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 -1119169000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 1334159000
Adjustments for decrease (increase) in inventories 26106000
Adjustments for decrease (increase) in trade receivables, current 752564000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 244275000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 16578000
Adjustments for other financial assets, current -256264000
Adjustments for other bank balances 57966000
Adjustments for increase (decrease) in trade payables, current 156339000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -738694000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 93928000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current -353030000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 350340000
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) 0
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) 983587000
Net cash flows from (used in) operations -135582000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 130889000
Other inflows (outflows) of cash -35003000
Net cash flows from (used in) operating activities -301474000
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 277761000
Purchase of property, plant and equipment 2263000
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 350340000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -350388000
Net cash flows from (used in) investing activities 275450000
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 975546000
Repayments of borrowings 1170393000
Payments of lease liabilities 0
Dividends paid 0
Interest paid 271093000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 491124000
Net cash flows from (used in) financing activities 25184000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -840000
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 -840000
Cash and cash equivalents cash flow statement at beginning of period 21831000
Cash and cash equivalents cash flow statement at end of period 20991000





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 Manubhai & Shah LLP Yes 31-Mar-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 2559969000 2559969000
2 Total Expenditure 3933541000 3933541000
3 Net Profit/(Loss) -1535476000 -1535476000
4 Earnings Per Share -8.95 -8.95
5 Total Assets 26995741000 26995741000
6 Total Liabilities 18518697000 18518697000
7 Net Worth 8477044000 8477044000


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)
2 Textual Information(6) Qualified opinion Repetitive Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)
3 Textual Information(11) Qualified opinion Repetitive Textual Information(12) Textual Information(13) Textual Information(14) Textual Information(15)
4 Textual Information(16) Qualified opinion Repetitive Textual Information(17) Textual Information(18) Textual Information(19) Textual Information(20)


Text Block
Textual Information(1) We draw attention to Note 8 to the accompanying Standalone Financial Results regarding impairment assessment of investment of Rs 52,768.91 Lakhs, stated at cost and outstanding loan including interest accrued of Rs 26,638.64 lakhs as at March 31, 2025 to one of the subsidiary, Sadbhav Infrastructure Project Limited. It is noted that the subsidiarys consolidated net worth as at March 31, 2025, is substantially eroded. Management asserts that the investment and loan outstanding are fully recoverable, based on factors outlined in the said note. n nHowever, we are unable to obtain sufficient appropriate audit evidence to substantiate the significant judgments and estimates made by management regarding the underlying assumptions adopted by the management for impairment assessment. Consequently, we are unable to provide a conclusive comment on the adjustments, if any, necessary to the carrying value of the said investment and loan and the consequential impact, if any, on the standalone financial position and standalone financial results of the Company as at reporting date and for the quarter and year ended on March 31, 2025. n nOur Audit Report on financial statements for the year ended on March 31, 2024 and review reports on financial results for the quarter ended on June 30, 2024, September 30, 2024 and December 31, 2024 were also qualified with respect to this matter.
Textual Information(2) NA
Textual Information(3) 1.tThe Company has outstanding loan, Trade and other receivable aggregating to of Rs. 20776.80 lakhs given to Rohtak Panipat Tollway Private Limited RPTPL, a step-down subsidiary company which is engaged in construction, operation and maintenance of road projects under concession agreement with National Highways Authorities of India NHAI. The net worth of RPTPL has fully eroded. RPTPL has issued the termination notice on July 27, 2021, to NHAI by exercising the criteria of Event of Defaults under the concession agreement. n nIn this regard the management of RPTPL has lodged total claims aggregating to Rs. 3,95,784.40 Lakhs relating to termination payments, O&M cost due to force majeure, Covid claim & demonetization etc. In respect of such claims, RPTPL has given notice invoking Arbitration vide letter dated March 27, 2023. n nIn respect of Arbitration Claim of Rs. 222057.40 lakhs for competing road, the award by Majority is passed on May 30, 2023 against the RPTPL. The RPTPL has filed the application under section 34 of the Arbitration and Conciliation Act, 1996 before the Honourable Delhi High Court. Further with respect to the balance claim of Rs. 173727.00 lakhs, the arbitration proceeding is pending before the Arbitration Tribunal. n nConsidering the management assessment of probability and tenability of receiving above claims from NHAI as per the terms of concession agreement, which is backed by legal opinion and pendency of the matter before Honourable Delhi high Court, the management has assessed that there is no impairment in the value of loan given to RPTPL and consequently no provision/adjustment to the carrying value of loan and other receivable as at March 31, 2025 is considered necessary. n nThe statutory auditors have expressed qualified opinion on financial statements for the year ended March 31, 2025 and qualified conclusion on financial results for the quarter ended June 30, 2024, September 30, 2024 and December 31, 2024 in respect of above as regards recoverable value of Company's outstanding loan, Trade and other receivable to RPTPL n
Textual Information(4) NA
Textual Information(5) NA
Textual Information(6) We draw attention to Note 5 to the accompanying Standalone Financial Results with respect to termination of concession agreement by Rohtak Panipat Tollway Private Limited step-down subsidiary of the Company. As at March 31, 2025, aggregate amount of Rs 20776.80 lakhs is outstanding towards loan, trade receivable and reimbursement of expenses as receivable from the said step-down subsidiary. The said step-down subsidiary has issued notice of termination of concession agreement to National Highway Authority of India NHAI on account of Force Majeure Event as per concession agreement. As explained in the said note, the Company has carried out impairment assessment of outstanding balance in this step-down subsidiary duly considering the expected payment arising out of aforesaid termination and other claims filed with NHAI and based on the above assessment, management has concluded that no impairment adjustment to the carrying value of the loan, and other receivables balance is necessary as at March 31, 2025. nt nHowever, we have not been able to corroborate the managements contention of realizing the carrying value of loan, and Trade and other receivables aggregating to Rs. 20776.80 Lakhs as on the reporting date, related to the said step-down subsidiary. n nAccordingly, we are unable to comment on appropriateness of the carrying value of such loan and other receivable and the consequential impact on the standalone financial position and standalone financial result of the Company as at reporting date and for the quarter and year ended on March 31, 2025. n nOur Audit Report on financial statements for the financial year ended on March 31, 2024 and review reports on the financial results for the quarter ended on June 30, 2024, September 30, 2024 and December 31, 2024 were also qualified with respect to this matter. n
Textual Information(7) NA
Textual Information(8) The Company has investment in equity shares of Sadbhav Infrastructure Project Limited SIPL) and loan given to SIPL, the amount of which is Rs. 79407.54 lakhs as on March 31, 2025. As per the consolidated financial statements of the Sadbhav Infrastructure Project Limited SIPL and its subsidiaries, there is negative net worth of the Group of SIPL and its subsidiaries. n nThe management has carried out impairment assesment of these assets as on March 31, 2025 considering the projected cash flow from revenue of operating SPV's, sale of HAM assets and realization of GST claims. Based on the assessment it is concluded receoverable amounts of these assets are more than the carrying value. Hence no impairment is required to the carrying value of investment in equity shares and loan to SIPL as on March 31, 2025. n nThe statutory auditors have expressed qualified opinion on financial statements for the year ended March 31, 2025 and financial results for the quarter ended June 30, 2024, September 30, 2024 and December 31, 2024 in respect of investment in equity shares of Sadbhav Infrastructure Project Limited SIPL and loan given to SIPL n
Textual Information(9) NA
Textual Information(10) NA
Textual Information(11) The Company has not complied with the requirements of Section 203 of the Companies Act, 2013 read with the applicable rules framed thereunder due to the non-appointment of Chief Financial Officer CFO with effect from April 8, 2024.
Textual Information(12) NA
Textual Information(13) The management has carried out impairment assesment of these assets as on March 31, 2025 considering the projected cash flow from revenue of operating SPV's, sale of HAM assets and realization of GST claims. Based on the assessment it is concluded receoverable amounts of these assets are more than the carrying value. Hence no impairment is required to the carrying value of investment in equity shares and loan to SIPL as on March 31, 2025. n nThe statutory auditors have expressed qualified opinion on financial statements for the year ended March 31, 2025 and financial results for the quarter ended June 30, 2024, September 30, 2024 and December 31, 2024 in respect of investment in equity shares of Sadbhav Infrastructure Project Limited (SIPL) and loan given to SIPL. n
Textual Information(14) NA
Textual Information(15) NA
Textual Information(16) We draw attention to Note 6 to accompanying Standalone Financial Results regarding expected recoverability of Contract Assets amounting to Rs 35019.32 lakhs outstanding as at March 31, 2025 which represent receivables in respect of closed substantially closed suspended projects. The Company is at various stages of negotiation discussion with the clients or matters under arbitration/litigation in respect of aforementioned receivables. n nConsidering the contractual tenability, progress of negotiations discussions arbitration/litigations and as legally advised in certain contentious matters, the Management has represented that these contract assets amounting to Rs 35019.32 are fully recoverable within a period of one year, based on factors detailed in the said note and hence classified under other current assets in the financial statement. n
Textual Information(17) NA
Textual Information(18) The statutory auditors have expressed qualified opinion on financial statements for the year ended March 31, 2025 and qualified conclusion on financial results for the quarter ended June 30, 2024, September 30, 2024 and December 31, 2024 in respect of above as regards recoverable value of Company's outstanding loan, Trade and other receivable to RPTPL.
Textual Information(19) NA
Textual Information(20) NA


Signatories detail
Name of CEO / Managing director SHASHIN PATEL
Name of CFO NA
Name of audit committee chairman SHEFALI MANOJBHAI PATEL
Name of statutory auditor Manubhai & Shah LLP
Name of other signatory, if any, with designation Devansh Gandhi
Place AHMEDABAD
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 SADBHAV ENGINEERING LIMITED Shashin V Patel Executive Director of Subsidiary Any other transaction Remuneration No Remarks 9093000 1420000 1424000
2 SADBHAV ENGINEERING LIMITED Jatin Thakkar Executive Director and CFO OF Subsidiary Any other transaction Remuneration No Remarks 5773000 880000 877000
3 SADBHAV ENGINEERING LIMITED ROHIT MODI GROUP CFO Remuneration No Remarks 0 0 0
4 SADBHAV ENGINEERING LIMITED HARDIK JIGNESHKUMAR MODI Key Management Personnel Remuneration No Remarks 1550000 192000 237000
5 SADBHAV ENGINEERING LIMITED SHASHIN VISHNUBHAI PATEL Promoters Group Loan No Remarks 1000000 -1432637000 -1433637000
6 SADBHAV ENGINEERING LIMITED SHASHIN VISHNUBHAI PATEL Promoters Group Interest paid No Remarks 50573000 -970087000 -1020660000
7 SADBHAV ENGINEERING LIMITED SADBHAV FINSTOCK PRIVATE LIMITED PROMOTER GROUP Loan No Remarks 0 947000 947000
8 SADBHAV ENGINEERING LIMITED SADBHAV FINSTOCK PRIVATE LIMITED PROMOTER GROUP Any other transaction Reimbursement of Expenses No Remarks 30000 91276000 91246000
9 SADBHAV ENGINEERING LIMITED SADBHAV-PIPL (JV) Joint Venture Any other transaction Security Deposit/Retention Money Deducted by Clients No Remarks 0 34384000 34384000
10 SADBHAV ENGINEERING LIMITED SEL-GKC JOINT VENTURE Joint Venture Any other transaction Receivable No Remarks 0 4844000 4844000
11 SADBHAV ENGINEERING LIMITED SEL-GKC JOINT VENTURE Joint Venture Any other transaction Security Deposit/Retention Money Deducted by Clients No Remarks 0 345929000 345929000
12 SADBHAV ENGINEERING LIMITED SADBHAV-VISHNUSHIVA JOINT VENTURE Joint Venture Any other transaction Security Deposit/Retention Money Deducted by Clients No Remarks 0 20391000 20391000
13 SADBHAV ENGINEERING LIMITED SADBHAV VAISHNOVI CONSTRUCTIONS JOINT VENTURE Joint Venture Any other transaction Receivable No Remarks 0 102000 102000
14 SADBHAV ENGINEERING LIMITED SADBHAV VAISHNOVI CONSTRUCTIONS JOINT VENTURE Joint Venture Any other transaction Security Deposit/Retention Money Deducted by Clients No Remarks 0 296666000 296666000
15 SADBHAV ENGINEERING LIMITED CORSAN CORVIAM CONSTRUCCION SA SADBHAV ENGINEERING LIMITED JV Joint Venture Any other transaction Receivable No Remarks 0 369000 369000
16 SADBHAV ENGINEERING LIMITED CORSAN CORVIAM CONSTRUCCION SA SADBHAV ENGINEERING LIMITED JV Joint Venture Any other transaction Security Deposit/Retention Money Deducted by Clients No Remarks 0 48164000 44378000
17 SADBHAV ENGINEERING LIMITED SEL-SPSCPL JOINT VENTURE Joint Venture Any other transaction Receivable Mobilization/Material/Machinery Advance Received No Remarks 6111000 6113000 2000
18 SADBHAV ENGINEERING LIMITED SEL-SPSCPL JOINT VENTURE Joint Venture Any other transaction Advance Received No Remarks 30090000 0 30090000
19 SADBHAV ENGINEERING LIMITED SEL-SPSCPL JOINT VENTURE Joint Venture Any other transaction Security Deposit/Retention Money Deducted by Clients No Remarks 0 1204000 1204000
20 SADBHAV ENGINEERING LIMITED SADBHAV-ANNAPURNA JV Joint Venture Any other transaction Security Deposit/Retention Money Deducted by Clients No Remarks 0 0 182439000
Total value of transaction during the reporting period 104220000





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 8292936000 *The Account of Sadbhav Engineering Limited has classified as Non-Performing Asset by the lenders. Further the Company has submitted their Debt Restructuring Plan under RBI June 7 Circular to their lenders for which requisite Ratings RP 4 Ratings are received from Credit Rating Agencies viz. CRISIL and ICRA which has been informed to Stock Exchanges vide intimation letter dated 21st March, 2025. The Company is expecting their Restructuring Plan to get approved and implemented in the due course of time, n
B Of the total amount outstanding, amount of default as on date 8292936000 *The Account of Sadbhav Engineering Limited has classified as Non-Performing Asset by the lenders. Further the Company has submitted their Debt Restructuring Plan under RBI June 7 Circular to their lenders for which requisite Ratings RP 4 Ratings are received from Credit Rating Agencies viz. CRISIL and ICRA which has been informed to Stock Exchanges vide intimation letter dated 21st March, 2025. The Company is expecting their Restructuring Plan to get approved and implemented in the due course of time, n
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 8292936000