MAITHANALL2024-01-012024-03-31 MAITHANALL2024-01-012024-03-31 MAITHANALL2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member MAITHANALL2024-01-012024-03-31in-bse-fin:OneOperatingExpenses02Member MAITHANALL2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member MAITHANALL2024-01-012024-03-31in-bse-fin:FourOperatingExpenses02Member MAITHANALL2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 590078 MAITHANALL NOTLISTED Maithan Alloys Limited Equity 2023-04-01 2024-03-31 2024-05-29 2024-05-17 INR Crores Yearly 12:30:00 17:15:00 2024-05-29 2024-05-29 true Cash Flow Indirect Declaration of unmodified opinion Single segment Ferro Alloy 2024-01-01 2024-03-31 Audited Consolidated 4332700000.00 1743900000.00 6076600000.00 2065300000.00 162200000.00 61500000.00 121400000.00 11100000.00 50400000.00 1856900000.00 4328800000.00 1747800000.00 0.00 1747800000.00 205200000.00 122500000.00 327700000.00 0.00 1420100000.00 0.00 0.00 0.00 0.00 1420100000.00 26100000.00 1446200000.00 1420800000.00 -700000.00 26100000.00 0.00 291100000.00 10 48.81 48.81 0.00 0.00 48.81 48.81 Notes to the Statement of Audited Consolidated Financial Results for the quarter and year ended March 31, 2024 1. The above Consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on May 29, 2024. The consolidated financial results are in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013, read with the relevant Rules thereunder. These consolidated results have been subjected to an audit by the Statutory Auditors of the Company who have issued unmodified audit reports thereon. 3. The investment in AXL-Exploration Private Limited, has been tested for impairment by the management and accordingly an amount of Rs. 6.41 Crore has been provided for as impairment and is part of other expenses. 4. As the Groups business activity falls within a single significant primary business segment i.e. Ferro Alloys, no separate segment information is disclosed. These, in the context of Ind AS 108 on Operating Segments Reporting are considered to constitute one segment and hence, the Group has not made any additional segment disclosures. 5. The Board of Directors of Maithan Alloys Limited have recommended a dividend of Rs. 6/- per share for the year ended 31 March 2024. The payment of Dividend is subject to approval of the shareholders at the ensuing Annual General Meeting of the Company. 6. The figures for the quarter ended 31 March 2024 and 31 March 2023 are balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial years. . Also, the figures up to the end of third quarter had only been reviewed and not subjected to audit. 7. Figures for the previous period/year have been regrouped and reclassified to conform to the classification of current period /years figures, wherever necessary. For Maithan Alloys Limited S. C. Agarwalla Chairman & Managing Director Place: Kolkata Date : May 29, 2024. Single segment 2023-04-01 2024-03-31 Audited Consolidated 17286400000.00 3575200000.00 20861600000.00 9202600000.00 617900000.00 -786200000.00 450800000.00 16300000.00 207800000.00 6657100000.00 16366300000.00 4495300000.00 0.00 4495300000.00 731100000.00 274600000.00 1005700000.00 0.00 3489600000.00 0.00 0.00 0.00 0.00 3489600000.00 61600000.00 3551200000.00 3489600000.00 0.00 61600000.00 0.00 291100000.00 10 31127900000.00 119.87 119.87 0.00 0.00 119.87 119.87 Other Expenses 520300000.00 Power Cost 1336600000.00 Other Expenses 1658700000.00 Power Cost 4998400000.00 9900000.00 2360100000.00 542400000.00 0.00 163100000.00 3500000.00 0.00 0.00 0.00 596400000.00 0.00 0.00 554900000.00 1151300000.00 0.00 156800000.00 4377200000.00 3497600000.00 17281900000.00 3874700000.00 408400000.00 367400000.00 29100000.00 4446600000.00 26408100000.00 0.00 397300000.00 30303000000.00 600000.00 0.00 34680800000.00 291100000.00 31127900000.00 31419000000.00 31428900000.00 130000000.00 0.00 32200000.00 162200000.00 35400000.00 541400000.00 0.00 800000.00 739800000.00 139000000.00 876700000.00 731700000.00 1747400000.00 550600000.00 2400000.00 211700000.00 0.00 2512100000.00 0.00 0.00 3251900000.00 34680800000.00 Notes to the Statement of Audited Consolidated Financial Results for the quarter and year ended March 31, 2024 2. The Board of Directors of Maithan Alloys Limited (Company or MAL or Transferee Company), at its meeting held on May 05, 2021 had considered and approved the Composite Scheme of Arrangement (Scheme) amongst Ma Kalyaneshwari Holdings Private Limited (MKH or Demerged Company or Transferor Company) and Anjaney Land Assets Private Limited (ALAPL or Resulting Company) and the Company and their respective shareholders and creditors under Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act, 2013. Subsequently the Board of Directors of the Company at its meeting held on November 11, 2021 had modified the Scheme to fix the Appointed Date of the Scheme as November 01, 2021 and related consequential changes thereof. Honble National Company Law Tribunal, Kolkata Bench, (Honble NCLT) vide its Order dated February 01, 2024 has approved the said Scheme with the Appointed Date as January 01, 2024. Consequent upon filing of the said Scheme with Registrar of Companies, West Bengal, the Scheme has become effective from March 08, 2024 with an Appointed Date i.e., January 01, 2024 in terms of the Order of Honble NCLT. Accordingly, the effect of the scheme which is a common control transaction has been taken in the books of the Company. Upon the scheme coming into effect, assets and liabilities relating to the Real Estate and Ancillary Business of MKH demerged into ALAPL (Part II of the Scheme). The aggregate of excess assets over liabilities amounting to Rs. 45.44 Crore relating to the Real Estate and Ancillary Business of MKH was transferred to ALAPL and the cancellation of the equity shares held by MKH in the paid-up capital of ALAPL was debited to Capital Reserve (Capital Reserve due to Demerger) w.e.f. January 01, 2024, being the Appointed date as per the NCLT Order. As a result of this demerger a Capital Reserve having a debit balance of Rs. 45.44 Crore was created in MKH on January 01, 2024. Post Demerger the remaining business undertaking of MKH is amalgamated with MAL (Part III of the Scheme) and recorded for in the books of account of MAL as per Pooling of Interest Method as described in Appendix C of Indian Accounting Standard (Ind AS) 103- Business Combinations prescribed under Section 133 of the Companies Act 2013 read with relevant rules thereunder. The Company has issued and alloted 1,72,70,176 fully paid-up equity shares of the face value of Rs. 10/- each in the proportion of the number of equity shares held by the shareholders of Transferor Company in the Transferor Company during the year. Further, pursuant to the Scheme existing shares of the Company held by the Transferor Company i.e. 1,72,70,176 fully paid-up equity shares of Rs. 10/- each, were cancelled/extinguished. Upon Amalgamation, the difference between the asset, liabilities, reserves including amalgamation adjustment account are recorded as Capital Reserve ( Amalgamation adjustment deficit account) having debit balance of Rs. 1,440.32 Crore in the books of the Company. 16300000.00 290500000.00 -461200000.00 0.00 127300000.00 -15300000.00 120200000.00 -4400100000.00 0.00 -519500000.00 0.00 -66400000.00 0.00 207800000.00 0.00 2300000.00 0.00 221500000.00 0.00 2300000.00 91300000.00 524100000.00 0.00 -1775200000.00 0.00 -944800000.00 -21200000.00 -43700000.00 0.00 -7874600000.00 -3379300000.00 0.00 0.00 0.00 734000000.00 0.00 -4113300000.00 0.00 0.00 41766600000.00 48159900000.00 0.00 0.00 0.00 0.00 129400000.00 689700000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 35000000.00 0.00 0.00 0.00 0.00 0.00 91300000.00 525700000.00 0.00 10015200000.00 0.00 3713600000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 105000000.00 0.00 0.00 900000.00 174700000.00 16300000.00 0.00 0.00 -86900000.00 -486600000.00 0.00 -486600000.00 895000000.00 408400000.00 27500000.00 64400000.00 1400000.00 2800000.00