Integrated Filing — IndAS



General information about company
Scrip Code 500032
NSE Symbol BAJAJHIND
MSEI Symbol NOTLISTED
ISIN INE306A01021
Name of company Bajaj Hindusthan Sugar 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 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 29-May-2025   11:30:00
End date and time of board meeting 29-May-2025   14:15:00
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 15536600000 55747600000
Other income 86000000 180300000
Total income 15622600000 55927900000
2 Expenses
(a) Cost of materials consumed 23421200000 43610300000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -13962900000 265400000
(d) Employee benefit expense 1281300000 4077900000
(e) Finance costs 236100000 1029000000
(f) Depreciation, depletion and amortisation expense 531300000 2155400000
(f) Other Expenses
1 Other Expenses 1941100000 4896600000
Total other expenses 1941100000 4896600000
Total expenses 13448100000 56034600000
3 Total profit before exceptional items and tax 2174500000 -106700000
4 Exceptional items 0 0
5 Total profit before tax 2174500000 -106700000
6 Tax expense
7 Current tax 0 0
8 Deferred tax -2400000 47700000
9 Total tax expenses -2400000 47700000
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 2176900000 -154400000
12 Profit (loss) from discontinued operations before tax 24100000 -93400000
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 24100000 -93400000
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period 2201000000 -247800000
17 Other comprehensive income net of taxes -2536500000 -2536200000
18 Total Comprehensive Income for the period -335500000 -2784000000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 2202800000 -235700000
Total profit or loss, attributable to non-controlling interests -1800000 -12100000
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent -333700000 -2771900000
Total comprehensive income for the period attributable to owners of parent non-controlling interests -1800000 -12100000
21 Details of equity share capital
Paid-up equity share capital 1277400000 1277400000
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve 40973600000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.75 -0.12
Diluted earnings (loss) per share from continuing operations 0 0
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0.02 0.07
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 1.77 -0.05
Diluted earnings (loss) per share from continuing and discontinued operations 0 0
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) Notes n nFor detailed notes (Sr. N. 1 to 7), please refer the signed Results submitted with the Stock Exchanges.



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 73254600000
Capital work-in-progress 125800000
Investment property 0
Goodwill 0
Other intangible assets 1100000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 42687300000
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 60700000
Total non-current financial assets 42748000000
Deferred tax assets (net) 0
Other non-current assets 1261600000
Total non-current assets 117391100000
2 Current assets
Inventories 26796000000
Current financial asset
Current investments 0
Trade receivables, current 1075300000
Cash and cash equivalents 711800000
Bank balance other than cash and cash equivalents 23800000
Loans, current 0
Other current financial assets 0
Total current financial assets 1810900000
Current tax assets (net) 91600000
Other current assets 6645700000
Total current assets 35344200000
3 Non-current assets classified as held for sale 108500000
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 152843800000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1244500000
Other equity 40973600000
Total equity attributable to owners of parent 42218100000
Non controlling interest 93700000
Total equity 42311800000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 35611700000
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 0
Total non-current financial liabilities 35611700000
Provisions, non-current 1142100000
Deferred tax liabilities (net) 11893700000
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 48647500000
Current liabilities
Current financial liabilities
Borrowings, current 134700000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 500000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 35451500000
Total Trade payable 35452000000
Other current financial liabilities 1040300000
Total current financial liabilities 36627000000
Other current liabilities 24980100000
Provisions, current 272800000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 61879900000
3 Liabilities directly associated with assets in disposal group classified as held for sale 4600000
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 110532000000
Total equity and liabilites 152843800000
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 Sugar 18658200000 59053200000
2 Distillery 2498800000 7052700000
3 Power 4735300000 8644800000
4 Others 106500000 353400000
Total Segment Revenue 25998800000 75104100000
Less: Inter segment revenue 10462200000 10462200000
Revenue from operations 15536600000 55747600000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Sugar 1814200000 94300000
2 Distillery 197700000 1285700000
3 Power 454600000 -151800000
4 Others -18000000 -227100000
Total Profit before tax 2448500000 1001100000
i. Finance cost 236100000 236100000
ii. Other Unallocable Expenditure net off Unallocable income 13800000 13800000
Profit before tax 2198600000 -200100000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Sugar 87959600000 87959600000
2 Distillery 9521500000 9521500000
3 Power 23307200000 23307200000
4 Others 2017200000 2017200000
Total Segment Asset 122805500000 122805500000
Un-allocable Assets 30038200000 30038200000
Net Segment Asset 152843700000 152843700000
4 Segment Liabilities
Segment Liabilities
1 Sugar 38438300000 38438300000
2 Distillery 674300000 674300000
3 Power 113800000 113800000
4 Others 246200000 246200000
Total Segment Liabilities 39472600000 39472600000
Un-allocable Liabilities 71059400000 71059400000
Net Segment Liabilities 110532000000 110532000000
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to profit or loss -3321800000 -3321800000
Total Amount of items that will not be reclassified to profit and loss -3321800000 -3321800000
2 Income tax relating to items that will not be reclassified to profit or loss -777800000 -777800000
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified to profit or loss 7500000 7800000
Total Amount of items that will be reclassified to profit and loss 7500000 7800000
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income -2536500000 -2536200000



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 -106700000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 0
Adjustments for decrease (increase) in inventories 383700000
Adjustments for decrease (increase) in trade receivables, current 462800000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -123900000
Adjustments for decrease (increase) in other non-current assets 100000
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -494500000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -495400000
Adjustments for increase (decrease) in other non-current liabilities 145500000
Adjustments for depreciation and amortisation expense 2155400000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss -93400000
Adjustments for provisions, current -62200000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 7800000
Adjustments for dividend income 0
Adjustments for interest income 0
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) -55000000
Other adjustments for non-cash items 2900000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 82500000
Total adjustments for reconcile profit (loss) 1916300000
Net cash flows from (used in) operations 1809600000
Dividends received 0
Interest paid -1029000000
Interest received -21700000
Income taxes paid (refund) 13000000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 2803900000
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 308700000
Purchase of property, plant and equipment 206300000
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 -32700000
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 100000
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 22100000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 38100000
Net cash flows from (used in) investing activities 195400000
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 2728200000
Payments of lease liabilities 300000
Dividends paid 0
Interest paid 78700000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -2807200000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 192100000
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 192100000
Cash and cash equivalents cash flow statement at beginning of period 519700000
Cash and cash equivalents cash flow statement at end of period 711800000





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 Sidharth N Jain & Company Yes 31-Jul-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 55927900000 55927900000
2 Total Expenditure 56034600000 63030600000
3 Net Profit/(Loss) -247800000 -7243800000
4 Earnings Per Share -0.19 -5.82
5 Total Assets 152843700000 152843700000
6 Total Liabilities 110532000000 146382100000
7 Net Worth 42218000000 6367900000
8 Non Current Borrowing 35611700000 30252900000
9 Current Borrowing 134700000 5493500000


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 Since how long continuing Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Qualified opinion Whether appeared first time Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)


Text Block
Textual Information(1) The non-provision of the contractual obligation related to the premium payable on Optionally Convertible Debentures (OCDs) issued to lenders pursuant to the Scheme for Sustainable Structuring of Stressed Assets (S4A Scheme). As per the terms, the Yield to Maturity (YTM), being the difference between the weighted average cost of borrowing and the coupon interest rate, is contractually payable as a redemption premium at the time of redemption of the OCDs, which are redeemable in 13 equal annual instalments commencing from the financial year 2024 25. The Group, however, considers such YTM/redemption premium as a contingent liability and has not provided for the same in the books of account for the year ended March 31, 2025, amounting to Rs 699.60 crores (Previous Year: Rs 622.68 crores). The aggregate unprovided liability for such YTM from the date of allotment of the OCDs up to March 31, 2025, amounts to Rs 3,585.01 crores.
Textual Information(2) As per the Master Framework Agreement (MFA) executed between the Company and Lenders on December 16, 2017 the Optionally Convertible Debentures (OCDs) shall carry a Yield to Maturity (YTM) at a yield rate on the principle amount, accruing on annual basis, starting from the allotment date. The redemption will start from the Financial Year 2024-25. n nIn addition to the clause of the MFA quoted above it will be pertinent to note that another clause stated that upon occurrence of an Event of Default, the Debenture Trustee/ Monitoring Institution can issue a Conversion Notice for conversion of all of its outstanding OCDs into the equity shares of the Company. This clause contemplates conversions of all outstanding OCDs. The expression outstanding OCDs is not a defined expression unlike other expressions in the MFA. n nThus, MFA provides that upon occurrence of an Event of Default, the Debenture Trustee/ Monitoring Institution may instruct the conversion of outstanding OCDs into equity shares. Since the expression used is outstanding and not Outstanding Amount OCDs, it can be construed that the conversion of OCDs will cover only the outstanding face value of the OCDs and will not include YTM. n nHaving considered the clauses referred above, Clause regarding conversion does not suggest or indicate that the amount of YTM is required to be added to the Principle Amount of the OCDs for conversion of the OCDs into the equity shares of the Company at the time of the conversion. Accordingly, the management considers such YTM as contingent liability and has not provided the premium in the books of the Company. n n
Textual Information(3) Given in Financial Details
Textual Information(4) Not applicable
Textual Information(5) Given in Audit qualification
Textual Information(6) The Group has classified the principal liability of Rs 535.88 crores relating to Optionally Convertible Debentures (OCDs) under Non-Current Borrowings. This amount includes the overdue instalment of Rs 267.94 crores for the financial year 202425 and the instalment due in the financial year 202526, despite the Company having defaulted on the payment of the first redemption instalment of Rs 267.94 crores, coupon interest of Rs 87.08 crores, and the applicable YTM component, all of which were due on March 31, 2025. In the absence of a formal waiver or approved restructuring agreement as at the balance sheet date, such amounts should have been classified under Current Liabilities in accordance with Ind AS 1. nHad the above YTM been recognised and the overdue borrowings classified correctly as current liabilities, the reported net loss for the year ended March 31, 2025 would have been Rs 724.38 crores instead of Rs 24.78 crores, and the net worth of the Group would have been Rs 636.79 crores instead of Rs 4,221.80 crores. Further, current liabilities would have been higher by Rs 535.88 crores, with a corresponding reduction in non-current liabilities. n
Textual Information(7) The Company has classified the debenture liability under Non-Current Borrowings, based on managements assessment and expectation of a successful restructuring outcome that would modify the repayment terms.
Textual Information(8) Given in Financial Details
Textual Information(9) Not applicable
Textual Information(10) Given in Audit qualification


Signatories detail
Name of CEO / Managing director Mr. Ajay Kumar Sharma
Name of CFO Mr. Sunil Kumar Ojha
Name of audit committee chairman Mr. Shyam Sunder Jangid
Name of statutory auditor Mr. Sidharth Jain
Name of other signatory, if any, with designation
Place Lucknow
Date 29-May-2025