AHLEAST2024-01-012024-03-31 AHLEAST2024-01-012024-03-31 AHLEAST2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member AHLEAST2024-01-012024-03-31in-bse-fin:OneOperatingExpenses02Member AHLEAST2024-01-012024-03-31in-bse-fin:OneOperatingExpenses03Member AHLEAST2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member AHLEAST2024-01-012024-03-31in-bse-fin:FourOperatingExpenses02Member AHLEAST2024-01-012024-03-31in-bse-fin:FourOperatingExpenses03Member AHLEAST2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 533227 AHLEAST NOTLISTED Asian Hotels (East) Limited Equity 2023-04-01 2024-03-31 2024-05-28 2024-05-20 INR Lakhs Yearly 15:30:00 19:00:00 2024-05-28 2024-05-28 true Cash Flow Indirect Declaration of unmodified opinion Single segment Hotel Business 2024-01-01 2024-03-31 Audited Consolidated 336126000.00 263842000.00 599968000.00 47365000.00 0.00 0.00 53172000.00 128106000.00 9140000.00 103327000.00 341110000.00 258858000.00 0.00 258858000.00 68344000.00 -2251000.00 66093000.00 0.00 192765000.00 0.00 0.00 0.00 0.00 192765000.00 -834000.00 191931000.00 192765000.00 0.00 191931000.00 0.00 172917000.00 10 11.15 11.15 0.00 0.00 11.15 11.15 1. The above audited financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 28th May, 2024 as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Statutory Auditors of the Company have carried out an Audit of the aforesaid results.2.Discontinued operations for the year-ended 31st March 2023 represents profit from the assets and liabilities of the Securities Trading Unit ( STU ) which have been transferred pursuant to the Scheme of Arrangement for Demerger and Reduction of Capital in the previous financial year.3. Exceptional items in year-ended 31st March 2024 represents reversal of provision for VAT amounting to Rs 815.54 lakhs relating to a demand by the WBVAT department which was quashed by the West Bengal Tax Tribunal (WBTT) by an order dated 04-08-2023.4. The Income Tax Department has passed an Assessment order u/s 143(3) of the I.T. Act, 1961 on 30.09.2022 determining additional Income tax liability of Rs 143.71 crores for the Assessment Year 2020-21. The Company has preferred an appeal before CIT(A) and filed application for stay of demand and rectification of mistakes u/s 154 of the I.T. Act, 1961 before the Assessing Officer. The demand has now been reduced to Rs. 139.28 Cr. pursuant to a rectification order passed u/s 154. The Company has been legally advised by tax experts of having merits in its Appeal and hence no provision has been made in the accounts. The hearing of the Appeal is yet to take place. However, the Company has deposited Rs 75 lakhs under protest with the Income Tax Department.5.Saraf group through its company Robust Hotels Ltd. (RHL), one of the major shareholder of Asian Hotels (West) Limited (“AHWL”) entered into an agreement with AHWL and the other promoters of AHWL, to provide short term interest bearing loan to AHWL, which was under Corporate Insolvency Resolution Process to enable it to repay its existing debts in terms of the proposal submitted under section 12A of the Insolvency and Bankruptcy Code, 2016, before the Hon’ble National Company Law Appellate Tribunal for withdrawal of an insolvency application against it.In order to execute the above agreement, Saraf group through its company Asian Hotel (East) Limited (AHEL) has formed a wholly owned subsidiary Novak Hotels Pvt Ltd. (“Novak”) on 01-11-2023. Novak has borrowed Rs. 37536.50 lakhs from various companies in the Saraf group, including interest bearing short term loan of Rs. 19525.08 lakhs from AHEL for onward submission of the agreed amount with Hon’ble National Company Law Appellate Tribunal as per the proposal submitted. The said loan would be treated as short term loan to AHWL as per the framework agreement entered by RHL.Further, the above loan given by Novak has been secured through a charge/lien over the property of AHWL.6. Finance cost for the quarters ended 31-12-2023 and 31-03-2024 represents interest expense and processing fees of Rs 766.56 lakhs and 755.38 lakhs respectively incurred by the holding company on the loan taken from financial institution for providing loan to the subsidiary company required for the above purpose.7. The Company is primarily engaged in only one segment, i.e. the business of Hotel operations, and thus the separate reporting as per the Ind AS-108 Operating Segments is no longer required.8. The Board has recommended a final dividend of Rs 2.50 per equity share (25%), subject to the approval of members in the ensuing Annual General Meeting. The dividend proposed is in accordance with section 123 of the Companies Act, 2013, as applicable.9. The financial figures of the last quarters are the balancing figures between audited figures in respect of the full financial year upto 31st March and unaudited published year to date figure upto the third quarter i.e 31st December of the financial year which were subject to limited review. Single segment 2023-04-01 2024-03-31 Audited Consolidated 1084682000.00 282351000.00 1367033000.00 155252000.00 0.00 0.00 218073000.00 204762000.00 36268000.00 408863000.00 1023218000.00 343815000.00 81554000.00 425369000.00 88227000.00 20070000.00 108297000.00 0.00 317072000.00 0.00 0.00 0.00 0.00 317072000.00 -119000.00 316953000.00 317072000.00 0.00 316953000.00 0.00 172917000.00 10 2129954000.00 18.34 18.34 0.00 0.00 18.34 18.34 Fuel, Power & Light 15327000.00 Operating and General Expenses 71440000.00 Repairs, Maintenance & Refurbishing 16560000.00 Fuel, Power & Light 68711000.00 Operating and General Expenses 287016000.00 Repairs, Maintenance & Refurbishing 53136000.00 1155755000.00 27279000.00 0.00 621306000.00 1009000.00 0.00 0.00 0.00 0.00 0.00 0.00 2571000.00 2571000.00 73829000.00 3667000.00 1885416000.00 15319000.00 4418000.00 61141000.00 11568000.00 68846000.00 110000.00 3976446000.00 4122529000.00 0.00 22474000.00 4160322000.00 0.00 0.00 6045738000.00 172917000.00 2129954000.00 2302871000.00 2302871000.00 1488187000.00 0.00 1797000.00 1489984000.00 10215000.00 121462000.00 0.00 0.00 1621661000.00 1847643000.00 69469000.00 102265000.00 2019377000.00 77882000.00 23947000.00 0.00 0.00 2121206000.00 3742867000.00 6045738000.00 204762000.00 -5249000.00 -3955329000.00 0.00 -110000.00 0.00 9000000.00 0.00 0.00 -182309000.00 0.00 0.00 0.00 36268000.00 0.00 0.00 4627000.00 0.00 0.00 0.00 0.00 280424000.00 0.00 -19000.00 0.00 0.00 0.00 1622000.00 0.00 -4167161000.00 -3741792000.00 0.00 0.00 0.00 110054000.00 0.00 -3851846000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1000.00 21495000.00 323060000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 100000.00 0.00 0.00 0.00 0.00 279877000.00 0.00 0.00 0.00 581343000.00 0.00 0.00 100000.00 0.00 0.00 0.00 0.00 0.00 4230623000.00 894793000.00 0.00 0.00 43323000.00 -27385000.00 0.00 -50188000.00 3269804000.00 -699000.00 0.00 -699000.00 12267000.00 11568000.00 -1114000.00 -159000.00 -280000.00 -40000.00 0.00 0.00