INTEGRATED FILING — Other than Banks



General information about company

Scrip code 000000
NSE Symbol TUNWAL
MSEI Symbol NOTLISTED
ISIN INE0OXV01027
Name of Company TUNWAL E-MOTORS LIMITED
Type of company SME
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 26-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 19-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Half Yearly
Reporting Quarter Yearly
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 MANUFACTURING EV VEHICLES
Start date and time of board meeting 26-May-2025   11:00:00
End date and time of board meeting 26-May-2025   16:15:00
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 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
(III) 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 2024-03-18
Indicate Company website link for updated RPT policy of the Company https://www.tunwal.com/media/9-POLICIES/POLICY%20ON%20DEALING%20WITH%20RELATED%20PARTY%20TRANSACTIONS.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? Yes
No. of times funds raised during the quarter 1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? Yes


Financial Results — Other than Bank
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-Oct-2024 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 Revenue From Operations
Revenue from operations 1041686000 1785945000
Other income 52425000 62736000
Total Income 1094111000 1848681000
2 Expenses
(a) Cost of materials consumed 785397000 1383911000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 82448000 65632000
(d) Employee benefit expense 23918000 38460000
(e) Finance costs 12214000 22665000
(f) Depreciation and amortisation expense 4516000 11047000
(g) Other Expenses
1 Advertisement Expenses 19465000 22668000
2 Audit Fees 750000 1400000
3 Rent Rates and Taxes 4310000 7253000
4 Power and Fues Expenses 1444000 2753000
5 Office Expenses 679000 2168000
6 Professional Fees 10564000 13362000
7 Import and Transport Direct Expenses 63667000 116004000
8 CSR Expenses 1600000 1600000
9 Travelling and Conveyance Expenses 1519000 3108000
10 Miscellaneous Expenses 882000 3706000
Total other expenses 104880000 174022000
Total expenses 1013373000 1695737000
3 Profit before exceptional and extraordinary items and tax 80738000 152944000
4 Exceptional items 0 0
5 Profit before extraordinary items and tax 80738000 152944000
6 Extraordinary items 0 0
7 Profit before tax 80738000 152944000
8 Tax Expense
Current tax 18621000 36795000
Deferred tax -2645000 -2429000
Total tax expenses 15976000 34366000
9 Net Profit Loss for the period from continuing operations 64762000 118578000
10 Profit (loss) from discontinuing operations before tax 0 0
11 Tax expense of discontinuing operations 0 0
12 Net profit (loss) from discontinuing operation after tax 0 0
13 Profit (loss) for period before minority interest 64762000 118578000
14 Share of profit (loss) of associates
15 Profit (loss) of minority interest
16 Net profit (Loss) for the period 64762000 118578000
17 Details of equity share capital
Paid-up equity share capital 110602000 110602000
Face value of equity share capital 2 2
18 Reserves excluding revaluation reserve 915205000
19 Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.17 2.32
Diluted earnings (loss) per share from continuing and discontinued operations 1.17 2.32
20 Debt equity ratio 0.0032 0.0032
21 Debt service coverage ratio 0.0501 0.0504
22 Interest service coverage ratio 0.0646 0.0775
23 Disclosure of notes on financial results Textual Information(1)


Text Block
Textual Information(1) 1. The above financial results have been reviewed and approved by the Board of Directors in its meeting held on 26 May 2025. 2. The financial results have been prepared in accordance with Accounting Standards as prescribed under section 133 of the Companies Act, 2023 read with Rule 7 of Companies (Account) Rules 2014 by the Ministry of Corporate Affairs and amendments thereof. 3. As per Ministry of Corporate Affairs notification dated February 16th, 2015, Companies whose securities are listed on SME Exchange as referred to in chapter XB of the Securities and Exchange Board of India, (Issue of Capital and Disclosure Requirements) Regulations, 2009 are exempted from the compulsory requirements of adoption of Ind AS. 4. The Company operates in single business segment i.e. manufecturing of electric vehicles hence segment information has not been provided. Further the Company conducts its business in only one Geographical Segment, viz., India. 5. As on 29th March 2025, the Company has obtained shareholder's approval, via postal ballot, for the issuance and allotment of 23,91,304 equity shares on a preferential basis to Mr, Jhumarmal Pannaram Tunwal (DIN: 07486090), Managing Director and Promoter of the Company, against the conversion of his existing unsecured loan. 6. The figures in respect of results for the half year ended March 31, 2025 and half year ended March 31, 2024 are the balancing figures between the audited figures in respect of the full financial year and unaudited half yearly figures upto September 30, 2024 and half yearly figures upto September 30, 2023, respectively which are certified by the management and not subject to limited review. 7. The figures for the comparative periods have been regrouped/reclassified wherever necessary. All the regroupings and reclassifications are on account of change in the presentation or classification of items. The above regroupings and reclassifications have no impact on the profit of the company for the half year ended 30th September 2024 or the previous periods. 8. The balance appearing under the head Trade Payable, Loans and Advances, Other Current Liabilities are subject to Confirmation and Reconciliation and Consequent adjustments, if any, will be accounted for in the year of confirmation and/ or reconciliation. 9. Out of gross proceeds of IPO for Rs. 8,171.50 Lakhs, the company has utilized the funds as per the Utilization Certificate provided by the auditor


Remarks
20 Debt equity ratio
21 Debt service coverage ratio
22 Interest service coverage ratio


Cash flow statement — indirect
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
1 Statement of cash flows
Cash flows from used in operating activities
Profit before extraordinary items and tax 152944000
2 Adjustments for reconcile profit (loss)
Adjustments to profit (loss)
Adjustments for finance costs 22665000
Adjustments for depreciation and amortisation expense 11047000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for share-based payments 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) -7086000
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 to profit (loss) 26626000
3 Adjustments for working capital
Adjustments for decrease (increase) in inventories -462562000
Adjustments for decrease (increase) in trade receivables -193595000
Adjustments for decrease (increase) in other current assets -260270000
Adjustments for increase (decrease) in trade payables 305295000
Adjustments for increase (decrease) in other current liabilities -53988000
Adjustments for provisions 1371000
Total adjustments for working capital -663749000
Total adjustments for reconcile profit (loss) -637123000
Net cash flows from (used in) operations -484179000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 47756000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities before extraordinary items -531935000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) operating activities -531935000
4 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 50000000
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 -123453000
Purchase of property plant and equipment 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Cash advances and loans made to other parties 42057000
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 7086000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Proceeds from government grants 0
Net cash flows from (used in) investing activities before extraordinary items -208424000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) investing activities -208424000
Cash flows from used in financing activities
Proceeds from issuing shares 701921000
Proceeds from issuing other equity instruments 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings -121917000
Dividends paid 0
Interest paid 22664000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities before extraordinary items 801174000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) financing activities 801174000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 60815000
6 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 60815000
Cash and cash equivalents cash flow statement at beginning of period 26466000
Cash and cash equivalents cash flow statement at end of period 87281000


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
Equity and liabilities
1 Shareholders' funds
Share capital 110602000
Reserves and surplus 915205000
Money received against share warrants 0
Total shareholders' funds 1025807000
2 Share application money pending allotment 0
3 Deferred government grants
4 Minority interest
5 Non-current liabilities
Long-term borrowings 27145000
Deferred tax liabilities (net) 1373000
Foreign currency monetary item translation difference liability account
Other long-term liabilities 61712000
Long-term provisions 1809000
Total non-current liabilities 92039000
6 Current liabilities
Short-term borrowings 299961000
Trade Payables
(A) Total outstanding dues of micro enterprises and small enterprises 20786000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 455002000
Total Trade payable 475788000
Other current liabilities 23669000
Short-term provisions 22739000
Total current liabilities 822157000
Total equity and liabilities 1940003000
Assets
1 Non-current assets
i Property, Plant and Equipment and Intangible assets
Property, Plant and Equipment 191566000
Producing properties
Intangible assets 9307000
Preproducing properties
Property, Plant and Equipment capital work-in-progress 25718000
Intangible assets under development or work-in-progress
Total Property, Plant and Equipment and Intangible assets 226591000
ii Non-current investments 50000000
v Deferred tax assets (net)
vi Foreign currency monetary item translation difference asset account
vii Long-term loans and advances 36893000
viii Other non-current assets 6877000
Total non-current assets 320361000
Current assets
Current investments 0
Inventories 980661000
Trade receivables 221055000
Cash and cash equivalents 87281000
Bank balance other than cash and cash equivalents 0
Short-term loans and advances 330645000
Other current assets 0
Total current assets 1619642000
Total assets 1940003000
Disclosure of notes on assets and liabilities


Format for Reporting Segment 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-Oct-2024 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether results 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
Net Segment Asset
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities
Net Segment Liabilities
Disclosure of notes on segments




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 Mittal Agarwal & Company Yes 30-Apr-2028


Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)
Mode of Fund Raising Public Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 18-Jul-2024
Amount Raised 817150000
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 NOT APPLICABLE
Comments of the Audit Committee after review NOT APPLICABLE
Comments of the auditors, if any false
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 Funding of working capital NA 350000000 0 350000000 0
2 Research & Development NA 50000000 0 14466000 0
3 Pursuing Inorganic Growth NA 50000000 0 50000000 0
4 General Corporate Expenses NA 204098000 0 204098000 0
5 Fresh Issue Expenses NA 163052000 0 163052000 0


Signatory Details
Name of signatory RIYA LUNKAD
Designation of person Chief Financial Officer
Place PUNE
Date 26-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 Tunwal E-Motors Limited Jhumarmal Tunwal Promoter and Director Remuneration 6000000 NA 3000000 0 0
2 Tunwal E-Motors Limited Amit Kumar Mali Promoter and Director Remuneration 2700000 NA 1350000 0 0
3 Tunwal E-Motors Limited Karan Kumar Saini Director Remuneration 2100000 NA 1050000 0 0
4 Tunwal E-Motors Limited Riya Lunkad KMP Remuneration 606000 NA 303000 0 0
5 Tunwal E-Motors Limited Kush Gupta Independent Director Any other transaction Sitting Fees 240000 NA 120000 0 0
6 Tunwal E-Motors Limited Arshita Singh Independent Director Any other transaction Sitting Fees 120000 NA 60000 0 0
7 Tunwal E-Motors Limited Bhavana Sangoli KMP Remuneration 303000 NA 76000 0 0
8 Tunwal E-Motors Limited Niharika Choudhary KMP Remuneration 225000 NA 225000 0 0
9 Tunwal E-Motors Limited Nagraj Naveenchandra Mujumdar Independent Director Any other transaction Sitting Fees 180000 NA 90000 0 0
10 Tunwal E-Motors Limited Priyant Ganpatrao Mane KMP Remuneration 586000 NA 586000 0 0
11 Tunwal E-Motors Limited Spreta Tunwal Relative of Promoter Remuneration 1126000 NA 563000 0 0
12 Tunwal E-Motors Limited Sangita Tunwal Relative of Promoter Remuneration 735000 NA 368000 0 0
13 Tunwal E-Motors Limited Kavita Sankhla Relative of Promoter Remuneration 1126000 NA 563000 0 0
14 Tunwal E-Motors Limited Tunwal E-Bike Authorized Dealer Sale of goods or services 32300000 NA 14101000 1250000 4195000
15 Tunwal E-Motors Limited Tunwal E-Vehicle India Private Limited Group Company Sale of goods or services 43500000 NA 43500000 0 0
16 Tunwal E-Motors Limited Palsana EV Industries India Private Limited Wholly Owned Subsidiary Loan 36900000 NA 36200000 700000 36893000
Total value of transaction during the reporting period 102155000





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 34217000
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 34217000