Integrated Filing — IndAS



General information about company
Scrip Code 539148
NSE Symbol SHIVALIK
MSEI Symbol NA
ISIN INE788J01021
Name of company Shivalik Rasayan 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 21-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 Multi segment
Description of single segment
Start date and time of board meeting 30-May-2025   18:45:00
End date and time of board meeting 30-May-2025   20:30:00
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 2023-11-10
Indicate Company website link for updated RPT policy of the Company https://shivalikrasayan.com/srl-policies/
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? Yes
No. of times funds raised during the quarter 2
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 397816000 1492259000
Other income 4829000 20629000
Total income 402645000 1512888000
2 Expenses
(a) Cost of materials consumed 174536000 827992000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 15811000 -70062000
(d) Employee benefit expense 64346000 231489000
(e) Finance costs 20594000 61776000
(f) Depreciation, depletion and amortisation expense 23039000 87039000
(f) Other Expenses
1 Other Expenses 69462000 239380000
Total other expenses 69462000 239380000
Total expenses 367788000 1377614000
3 Total profit before exceptional items and tax 34857000 135274000
4 Exceptional items 0 0
5 Total profit before tax 34857000 135274000
6 Tax expense
7 Current tax 18135000 18635000
8 Deferred tax -16547000 -22030000
9 Total tax expenses 1588000 -3395000
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 33269000 138669000
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 33269000 138669000
17 Other comprehensive income net of taxes 0 0
18 Total Comprehensive Income for the period 33269000 138669000
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 78752000 78752000
Face value of equity share capital 5 5
27 Details of debt securities
22 Reserves excluding revaluation reserve 0
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 2.11 8.8
Diluted earnings (loss) per share from continuing operations 2.11 8.8
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 2.11 8.8
Diluted earnings (loss) per share from continuing and discontinued operations 2.11 8.8
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 2495394000
Capital work-in-progress
Investment property
Goodwill 0
Other intangible assets 0
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 744663000
Trade receivables, non-current 0
Loans, non-current 13476000
Other non-current financial assets 0
Total non-current financial assets 758139000
Deferred tax assets (net) 37275000
Other non-current assets 296889000
Total non-current assets 3587697000
2 Current assets
Inventories 555630000
Current financial asset
Current investments 0
Trade receivables, current 272162000
Cash and cash equivalents 242101000
Bank balance other than cash and cash equivalents 0
Loans, current 17047000
Other current financial assets 441428000
Total current financial assets 972738000
Current tax assets (net) 0
Other current assets 0
Total current assets 1528368000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 5116065000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 78752000
Other equity 3897751000
Total equity attributable to owners of parent 3976503000
Non controlling interest
Total equity 3976503000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 127654000
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
Total non-current financial liabilities 127654000
Provisions, non-current 11555000
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities
Total non-current liabilities 139209000
Current liabilities
Current financial liabilities
Borrowings, current 478646000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 10743000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 225839000
Total Trade payable 236582000
Other current financial liabilities
Total current financial liabilities 715228000
Other current liabilities 234241000
Provisions, current 21950000
Current tax liabilities (Net) 28934000
Deferred government grants, Current
Total current liabilities 1000353000
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 1139562000
Total equity and liabilites 5116065000
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)
1 Agrochemicals 380852000 1417224000
2 Active Pharma Ingredients (API) 5964000 64035000
3 Pharma Formulation 0 0
4 Unallocated other operating revenue 11000000 11000000
Total Segment Revenue 397816000 1492259000
Less: Inter segment revenue 0 0
Revenue from operations 397816000 1492259000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Agrochemicals 76814000 286541000
2 Active Pharma Ingredients (API) -21363000 -89492000
3 Pharma Formulation 0 0
4 Unallocated other operating revenue 0 0
Total Profit before tax 55451000 197049000
i. Finance cost 20594000 20594000
ii. Other Unallocable Expenditure net off Unallocable income 0 0
Profit before tax 34857000 135273000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Agrochemicals 3195623000 3195623000
2 Active Pharma Ingredients (API) 1138504000 1138504000
3 Pharma Formulation 0 0
4 Unallocated other operating revenue 0 0
Total Segment Asset 4334127000 4334127000
Un-allocable Assets 0 0
Net Segment Asset 4334127000 4334127000
4 Segment Liabilities
Segment Liabilities
1 Agrochemicals 1097994000 1097994000
2 Active Pharma Ingredients (API) 41568000 41568000
3 Pharma Formulation 0 0
4 Unallocated other operating revenue 0 0
Total Segment Liabilities 1139562000 1139562000
Un-allocable Liabilities 0 0
Net Segment Liabilities 1139562000 1139562000
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
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



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 135274000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 61776000
Adjustments for decrease (increase) in inventories -131113000
Adjustments for decrease (increase) in trade receivables, current 42664000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -35858000
Adjustments for decrease (increase) in other non-current assets -147229000
Adjustments for other financial assets, non-current 24876000
Adjustments for other financial assets, current -5190000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 104003000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -107550000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 87039000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current -4501000
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 0
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) 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) -111083000
Net cash flows from (used in) operations 24191000
Dividends received 0
Interest paid 0
Interest received -20628000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -14000000
Net cash flows from (used in) operating activities -10437000
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 207351000
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 10393000
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 20628000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities -197116000
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 950000
Proceeds from issuing other equity instruments 135090000
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 153651000
Repayments of borrowings 0
Payments of lease liabilities 0
Dividends paid 7780000
Interest paid 61776000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 220135000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 12582000
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 12582000
Cash and cash equivalents cash flow statement at beginning of period 229519000
Cash and cash equivalents cash flow statement at end of period 242101000





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 M/s Rahul Chaudhary & Associates, Chartered Accountants Yes 30-Sep-2026


Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)
Mode of Fund Raising Preferential Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 29-Sep-2023
Amount Raised 602286000
Report filed for Quarter ended 31-Mar-2025
Monitoring Agency Not Applicable
Monitoring Agency Name, if applicable
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation NA
Comments of the Audit Committee after review There is no deviation/variation innthe utilization of funds
Comments of the auditors, if any NA
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any
1 The Company intends to utilize the proceeds raised through the issue (“Issue Proceeds”) towards the following objects:nn1. For creating a separate facility in its existing Active Pharmaceutical Ingredient (API) plant at Plot No. D-2/CH/41/A, GIDC Industrial Estate, Dahej-II, Pin-392140, Distt. Bharuch (Gujarat) to manufacture Diabetology and Cardiovascular API’s for Domestic Market.n2. For Working capital requirements of the Company.n3. For General Corporate Purposen NA 500256000 0 500256000 0


Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (2)
Mode of Fund Raising Others
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 27-Mar-2025
Amount Raised 102030000
Report filed for Quarter ended 31-Mar-2025
Monitoring Agency Not Applicable
Monitoring Agency Name, if applicable
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation
Comments of the Audit Committee after review There is no deviation/variation innthe utilization of funds
Comments of the auditors, if any NA
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any
1 The Company intends to utilize the proceeds raised through the issue (“Issue Proceeds”) towards the following objects:nn1. For creating a separate facility in its existing Active Pharmaceutical Ingredient (API) plant at Plot No. D-2/CH/41/A, GIDC Industrial Estate, Dahej-II, Pin-392140, Distt. Bharuch (Gujarat) to manufacture Diabetology and Cardiovascular API’s for Domestic Market.n2. For Working capital requirements of the Company.n3. For General Corporate Purposen NA 102030000 0 0 0


Signatory Details
Name of signatory Parul Choudhary
Designation of person Company Secretary and Compliance Officer
Place New Delhi
Date 30-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 Shivalik Rasayan Limited Medicamen Biotech Limited Associates Sale of goods or services 65000000 Approved 39141000 0 0
2 Shivalik Rasayan Limited Medicamen Biotech Limited Associates Any other transaction Reimbursement of Expenses 200000 Approved 169000 0 0
3 Shivalik Rasayan Limited Medicamen Biotech Limited Associates Purchase of goods or services 1000000 Approved 202000 0 0
4 Shivalik Rasayan Limited Growel Remedies Limited Holding Any other transaction Rent Paid 1500000 Approved 708000 0 0
5 Shivalik Rasayan Limited Suresh Kumar Singh Key management personnel of entity Remuneration 3300000 Approved 1513000 0 0
6 Shivalik Rasayan Limited Vimal Kumar Shrawat Key management personnel of entity Remuneration 20000000 Approved 9967000 0 0
7 Shivalik Rasayan Limited Ashwani Kumar Sharma Other Related Party Remuneration 6800000 Approved 3344000 0 0
8 Shivalik Rasayan Limited Vinod Kumar Key management personnel of entity Remuneration 1800000 Approved 681000 0 0
9 Shivalik Rasayan Limited Parul Choudhary Key management personnel of entity Remuneration 1000000 Approved 459000 0 0
10 Shivalik Rasayan Limited Medicamen Biotech Limited Associates Any other transaction Payable 0 Approved 0 0 0
11 Shivalik Rasayan Limited Medicamen Biotech Limited Associates Any other transaction Receivable 0 Approved 0 0 28041000
Total value of transaction during the reporting period 56184000





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 606300000
B Of the total amount outstanding, amount of default as on date 0
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 0