Integrated Filing — IndAS



General information about company
Scrip Code 532761
NSE Symbol HOVS
MSEI Symbol NOTLISTED
ISIN INE596H01014
Name of company HOV SERVICES 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 30-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 22-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 IT and IT Enabled Services
Start date and time of board meeting 30-May-2025   09:00:00
End date and time of board meeting 30-May-2025   10:30:00
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 Declaration of unmodified opinion
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 2025-02-10
Indicate Company website link for updated RPT policy of the Company www.hovsltd.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? No
No such instance during the reporitng year



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 55148000 224683000
Other income 4443000 22831000
Total income 59591000 247514000
2 Expenses
(a) Cost of materials consumed 0 0
(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 40835000 171420000
(e) Finance costs 378000 1720000
(f) Depreciation, depletion and amortisation expense 2535000 10001000
(f) Other Expenses
1 Other Expenses 4047000 16410000
Total other expenses 4047000 16410000
Total expenses 47795000 199551000
3 Total profit before exceptional items and tax 11796000 47963000
4 Exceptional items 0 0
5 Total profit before tax 11796000 47963000
6 Tax expense
7 Current tax -2172000 6509000
8 Deferred tax 735000 -785000
9 Total tax expenses -1437000 5724000
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 13233000 42239000
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 13233000 42239000
17 Other comprehensive income net of taxes -1031000 -1031000
18 Total Comprehensive Income for the period 12202000 41208000
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 125950000 125950000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 191987000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.05 3.35
Diluted earnings (loss) per share from continuing operations 1.05 3.35
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.05 3.35
Diluted earnings (loss) per share from continuing and discontinued operations 1.05 3.35
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 2368000
Capital work-in-progress 0
Investment property 80108000
Goodwill 0
Other intangible assets 12404000
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 0
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 39011000
Total non-current financial assets 39011000
Deferred tax assets (net) 2707000
Other non-current assets 2602000
Total non-current assets 139200000
2 Current assets
Inventories 0
Current financial asset
Current investments 0
Trade receivables, current 153348000
Cash and cash equivalents 39943000
Bank balance other than cash and cash equivalents 35200000
Loans, current 0
Other current financial assets 2486000
Total current financial assets 230977000
Current tax assets (net) 1772000
Other current assets 1262000
Total current assets 234011000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 373211000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 125950000
Other equity 191987000
Total equity attributable to owners of parent 317937000
Non controlling interest
Total equity 317937000
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 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 6905000
Total non-current financial liabilities 6905000
Provisions, non-current 0
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 6905000
Current liabilities
Current financial liabilities
Borrowings, current 0
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 1488000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 21729000
Total Trade payable 23217000
Other current financial liabilities 14440000
Total current financial liabilities 37657000
Other current liabilities 4047000
Provisions, current 6665000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 48369000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 55274000
Total equity and liabilites 373211000
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 Remeasurement of net defined benefit plans -1429000 -1429000
Total Amount of items that will not be reclassified to profit and loss -1429000 -1429000
2 Income tax relating to items that will not be reclassified to profit or loss -398000 -398000
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 -1031000 -1031000



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 47963000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 1720000
Adjustments for decrease (increase) in inventories 0
Adjustments for decrease (increase) in trade receivables, current -65751000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -393000
Adjustments for decrease (increase) in other non-current assets 504000
Adjustments for other financial assets, non-current -30000000
Adjustments for other financial assets, current 1893000
Adjustments for other bank balances 30977000
Adjustments for increase (decrease) in trade payables, current 14877000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 1273000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 11882000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 1290000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 4644000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains -4815000
Adjustments for dividend income 0
Adjustments for interest income 6096000
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 -12095000
Other adjustments to reconcile profit (loss) -31000
Other adjustments for non-cash items -1429000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -51550000
Net cash flows from (used in) operations -3587000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 8955000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities -12542000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 0
Purchase of property, plant and equipment 283000
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 6096000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 12095000
Net cash flows from (used in) investing activities 17908000
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 8926000
Dividends paid 0
Interest paid 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -8926000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -3560000
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 -3560000
Cash and cash equivalents cash flow statement at beginning of period 43503000
Cash and cash equivalents cash flow statement at end of period 39943000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's 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 Yes
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 Lodha & Co LLP Yes 31-Mar-2027


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 HOV Services Limited SourceHOV, LLC Associates Sale of goods or services NA 119422000 116531000 142565000
2 HOV Services Limited SourceHOV, LLC Associates Any other transaction Unearned Revenue NA 0 0 4644000
3 HOV Services Limited HOVG, LLC dba Bay Area Credit Service, LLC Associates Sale of goods or services NA 9249000 10557000 10783000
4 HOV Services Limited Exela Technologies India Private Limited Associates Any other transaction Rent Received NA 6171000 0 0
5 HOV Services Limited Exela Technologies India Private Limited Associates Any other transaction Reimbursement of Expenses NA 1209000 208000 0
6 HOV Services Limited Exela Technologies India Private Limited Associates Any other transaction Lease Deposit Payable NA 0 2650000 2650000
7 HOV Services Limited Mr. Parvinder S Chadha Chairman & Executive Director Remuneration NA 4200000 956000 1084000
8 HOV Services Limited Mr. Sunil Rajadhyaksha Executive Director Any other transaction Reimbursement of Expenses NA 0 413000 262000
9 HOV Services Limited Mr. Ajay Puri Independent Director Remuneration NA 270000 0 0
10 HOV Services Limited Mrs. Lakshmi Kumar Independent Director Remuneration NA 330000 0 0
11 HOV Services Limited Mr. Harjit Singh Anand Independent Director Remuneration NA 270000 0 0
12 HOV Services Limited Mr. Nilesh Bafna Key management personnel of entity or parent Remuneration NA 3386000 0 193000
13 HOV Services Limited Mr. Bhuvanesh Sharma Key management personnel of entity or parent Remuneration NA 2541000 0 271000
14 HOV Services Limited Mrs. Rekha Sharma Relative of KMP Any other transaction Car Rental NA 90000 15000 15000
15 HOV Services Limited Mr. Dinesh Bafna Reletive of KMP Any other transaction Car Rental NA 90000 15000 15000
16 HOVS LLC HGM Fund Promoters Group Advance NA 0 94338000 96356000
17 HOVS LLC Rule14 LLC Associates Advance NA 0 2849000 2910000
Total value of transaction during the reporting period 147228000