INTEGRATED FILING — Other than Banks



General information about company

Scrip code 123456
NSE Symbol MAKS
MSEI Symbol NOTLISTED
ISIN INE0CDK01019
Name of Company MAKS ENERGY SOLUTIONS INDIA 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 29-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 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 Multi segment
Description of single segment
Start date and time of board meeting 29-May-2025   19:00:00
End date and time of board meeting 29-May-2025   20:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Whether the company has any related party? No
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? No
(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 2022-09-22
Indicate Company website link for updated RPT policy of the Company https://maksgenerators.com/pdf/Policy%20on%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? 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
NA


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 324280000 664816000
Other income 2446000 2675000
Total Income 326726000 667491000
2 Expenses
(a) Cost of materials consumed 82666000 262793000
(b) Purchases of stock-in-trade 166837000 321281000
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 39094000 14548000
(d) Employee benefit expense 9789000 19027000
(e) Finance costs 11678000 21749000
(f) Depreciation and amortisation expense 126000 272000
(g) Other Expenses
1 Other Expenses 8487000 18145000
Total other expenses 8487000 18145000
Total expenses 318677000 657815000
3 Profit before exceptional and extraordinary items and tax 8049000 9676000
4 Exceptional items -2147000 -2302000
5 Profit before extraordinary items and tax 5902000 7374000
6 Extraordinary items 0 0
7 Profit before tax 5902000 7374000
8 Tax Expense
Current tax 1773000 1942000
Deferred tax -83000 -84000
Total tax expenses 1690000 1858000
9 Net Profit Loss for the period from continuing operations 4212000 5516000
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 4212000 5516000
14 Share of profit (loss) of associates
15 Profit (loss) of minority interest
16 Net profit (Loss) for the period 4212000 5516000
17 Details of equity share capital
Paid-up equity share capital 69348000 69348000
Face value of equity share capital 10 10
18 Reserves excluding revaluation reserve 0
19 Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.61 0.8
Diluted earnings (loss) per share from continuing and discontinued operations 0.61 0.8
20 Debt equity ratio 0.0102 0.0102
21 Debt service coverage ratio 0.0092 0.0092
22 Interest service coverage ratio 0.0155 0.0155
23 Disclosure of notes on financial results


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 7374000
2 Adjustments for reconcile profit (loss)
Adjustments to profit (loss)
Adjustments for finance costs 17660000
Adjustments for depreciation and amortisation expense 272000
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) 0
Other adjustments for non-cash items -793000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments to profit (loss) 17139000
3 Adjustments for working capital
Adjustments for decrease (increase) in inventories 36869000
Adjustments for decrease (increase) in trade receivables -65388000
Adjustments for decrease (increase) in other current assets 4976000
Adjustments for increase (decrease) in trade payables 1653000
Adjustments for increase (decrease) in other current liabilities 319000
Adjustments for provisions -292000
Total adjustments for working capital -21863000
Total adjustments for reconcile profit (loss) -4724000
Net cash flows from (used in) operations 2650000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 396000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities before extraordinary items 2254000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) operating activities 2254000
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 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 137000
Proceeds from sales of intangible assets 0
Purchase of intangible 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 1142000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -52000
Proceeds from government grants 0
Net cash flows from (used in) investing activities before extraordinary items 953000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) investing activities 953000
Cash flows from used in financing activities
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 17842000
Repayments of borrowings 0
Dividends paid 0
Interest paid 17660000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities before extraordinary items 182000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) financing activities 182000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 3389000
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 3389000
Cash and cash equivalents cash flow statement at beginning of period 24738000
Cash and cash equivalents cash flow statement at end of period 28127000


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 69348000
Reserves and surplus 99605000
Money received against share warrants
Total shareholders' funds 168953000
2 Share application money pending allotment 0
3 Deferred government grants 0
4 Minority interest
5 Non-current liabilities
Long-term borrowings 0
Deferred tax liabilities (net) 0
Foreign currency monetary item translation difference liability account 0
Other long-term liabilities 0
Long-term provisions 795000
Total non-current liabilities 795000
6 Current liabilities
Short-term borrowings 172655000
Trade Payables
(A) Total outstanding dues of micro enterprises and small enterprises 5443000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 6866000
Total Trade payable 12309000
Other current liabilities 7908000
Short-term provisions 1293000
Total current liabilities 194165000
Total equity and liabilities 363913000
Assets
1 Non-current assets
i Property, Plant and Equipment and Intangible assets
Property, Plant and Equipment 962000
Producing properties 0
Intangible assets 0
Preproducing properties 0
Property, Plant and Equipment capital work-in-progress 0
Intangible assets under development or work-in-progress 0
Total Property, Plant and Equipment and Intangible assets 962000
ii Non-current investments 0
v Deferred tax assets (net) 366000
vi Foreign currency monetary item translation difference asset account 0
vii Long-term loans and advances 38000
viii Other non-current assets 10249000
Total non-current assets 11615000
Current assets
Current investments 0
Inventories 90546000
Trade receivables 201782000
Cash and cash equivalents 28126000
Bank balance other than cash and cash equivalents 0
Short-term loans and advances 31232000
Other current assets 612000
Total current assets 352298000
Total assets 363913000
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)
1 Manufacturing/Assembling 132022000 307268000
2 Trading 192257000 357548000
Total Segment Revenue 324279000 664816000
Less: Inter segment revenue 0 0
Revenue from operations 324279000 664816000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Manufacturing/Assembling 4946000 11680000
2 Trading 9426000 13497000
Total Profit before tax 14372000 25177000
i. Finance cost 9631000 17660000
ii. Other Unallocable Expenditure net off Unallocable income -1304000 0
Profit before tax 6045000 7517000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Manufacturing/Assembling 260425000 260425000
2 Trading 103488000 103488000
Total Segment Asset 363913000 363913000
Un-allocable Assets 0 0
Net Segment Asset 363913000 363913000
4 Segment Liabilities
Segment Liabilities
1 Manufacturing/Assembling 281851000 281851000
2 Trading 82062000 82062000
Total Segment Liabilities 363913000 363913000
Un-allocable Liabilities 0 0
Net Segment Liabilities 363913000 363913000
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 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 R K JAGETIYA AND CO Yes 30-Jun-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 667491000 664816000
2 Total Expenditure 660116000 715245000
3 Net Profit/(Loss) 5516000 49613000
4 Earnings Per Share 0.8 -7.15
5 Total Assets 363913000 308784000
6 Total Liabilities 363913000 308784000
7 Net Worth 168953000 113824000


Standalone Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Qualified opinion Whether appeared first time Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)


Text Block
Textual Information(1) There are few parties having outstanding balance aggregating to Rs 470.67 Lakhs which are aged more than 1 to 3 years, and in our view provision for Bad and Doubtful debts is required against such parties, but no provision for bad and doubtful debts provided by the Company, therefore Profit for the Half year and year ended is overstated to that extent and accordingly Net worth of the Company also overstated to that extent.
Textual Information(2) Not Applicable
Textual Information(3) Not ascertainable
Textual Information(4) The outstanding balances amounting to Rs. 470.67 lakhs, aged between 1 to 3 years, primarily relate to certain major customer accounts. The Company has taken the following steps towards recovery and assessment of collectability: n1.tLegal Proceedings Initiated nOne customer, with dues amounting to approximately Rs. 290 lakhs, is currently under legal proceedings initiated by the Company. Based on legal advice received, the Company has a strong and enforceable case, and the outcome is likely to be in the Company's favor. n2.tDisputed Receivable nA second customer, with dues of Rs. 32 lakhs, has refused to make payment post-shipment. The Company is exploring alternative resolution mechanisms, including negotiation and legal options, to recover the dues. n3.tRemaining Accounts Under Discussion nFor the remaining balance, the Company is in active dialogue with the respective parties, and meaningful progress has been observed in reducing the aging profile of such receivables during Q4 FY25. nGiven the varying stages of recovery efforts, including active legal processes and negotiations, the management is currently unable to reliably estimate the amount of provision, if any, required against these specific receivables. A definitive evaluation will depend on the outcomes of the ongoing legal and commercial recovery processes. nAccordingly, while the Company acknowledges the auditors observation, management believes that creating a provision at this stage without a reasonable basis could lead to incorrect representation. The matter will continue to be closely monitored, and appropriate provision shall be recognized in future periods as and when more clarity emerges on the recoverability of specific dues.
Textual Information(5) No addition comment required
Textual Information(6) There are few vendor parties having advances subsisting for more than one year, aggregating Advances balance is Rs 80.62 Lakhs which are aged more than 1 to 3 years, and in our view since these suppliers are not a regular supplier and material transaction took place during the year, such balances required to be written off in Statement of Profit and Loss account for the half year and year ended March 31, 2025, therefore Profit for the Half year and year ended March 31, 2025 is overstated to that extent and accordingly Net worth of the Company also overstated to that extent.
Textual Information(7) There are few vendor parties having advances subsisting for more than one year, aggregating Advances balance is Rs 80.62 Lakhs which are aged more than 1 to 3 years, and in our view since these suppliers are not a regular supplier and material transaction took place during the year, such balances required to be written off in Statement of Profit and Loss account for the half year and year ended March 31, 2025, therefore Profit for the Half year and year ended March 31, 2025 is overstated to that extent and accordingly Net worth of the Company also overstated to that extent.
Textual Information(8) Not ascertainable
Textual Information(9) With respect to the observation regarding vendor advances amounting to Rs.80.62 Lakhs outstanding for more than one year the management would like to clarify that the said advances were made to vendors against procurement of materials However due to unforeseen and uncontrollable circumstances the materials could not be delivered within the anticipated timeframe nDespite the delay the vendors have not been categorized as inactive or non-operational The management maintains regular communication with these vendors and there is a clear understanding that the said advances will be adjusted against future orders The vendors have confirmed their willingness to honour the obligations and supply materials in due course nAccordingly the management believes that these advances are recoverable and will be utilized against subsequent procurement transactions Therefore at present the management is unable to estimate any potential impact of write-off as it expects no loss on realization or utilization of these advances nThe management remains committed to closely monitoring these balances and will take necessary steps to evaluate and provide for any impairment if such a situation arises in future n
Textual Information(10) No addition comment required


Signatories details

Name of CEO / Managing director Sourabh Mahendra Shaw
Name of CFO Nikhil Badrilal Agarwal
Name of audit committee chairman Ketan Shah
Name of statutory auditor Ravi K Jagetiya
Name of other signatory, if any, with designation
Place Pune
Date 29-May-2025


Signatory Details
Name of signatory
Designation of person
Place
Date


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)
Total value of transaction during the reporting period