INDOSOLAR2024-04-012024-06-30 INDOSOLAR2024-04-012024-06-30in-bse-fin:OneOperatingExpenses01Member INDOSOLAR2024-06-30 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 533257 INDOSOLAR NOTLISTED Indosolar Limited Equity 2024-04-01 2025-03-31 2024-08-13 2024-08-08 INR Lakhs First quarter 14:33:00 15:30:00 2024-08-13 2024-08-13 Not applicable Single segment Cell Manufacturer 2024-04-01 2024-06-30 Unaudited Standalone 0.00 1009000.00 1009000.00 0.00 0.00 0.00 961000.00 33598000.00 7507000.00 8747000.00 50813000.00 -49804000.00 0.00 -49804000.00 0.00 0.00 0.00 0.00 -49804000.00 0.00 0.00 0.00 0.00 -49804000.00 0.00 -49804000.00 0.00 0.00 416037000.00 10 -1.20 -1.20 0.00 0.00 -1.20 -1.20 1.The above Financial Results of the Company have been reviewed by the Audit committee and approved by the Board of Directors at their respective meeting held on August 13, 2024.2.The financial results have been prepared in accordance with Indian Accounting Standard ( Ind AS ) prescribed under section 133 of the Companies Act 2013, read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 (as amended) and SEBI Circular Dated 5th July, 2016.3.Considering the nature of its business activities and related risks and returns, the Company had at the time of transition to IndAS, determined that it operating segment namely 'Manufacturing of Solar Modules' which constitutes a reportable segment in context of Ind SA 108 on 'Operating Segments'. There has been no development during the quarter necessitating any changes in Operating Segment.4.In the absence of future taxable profit, The Company has not recognised deferred tax asset on its business losses/depreciation in accordance with Ind As 12 Income taxes . 5.Figures for the quarter ended 31 March 2024 as reported in these financial results are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the end of the third quarter of relevant financial year. Also the figures up to the end of the third quarter of financial year 2023-24, had only been reviewed and not subjected to audit. 6.In accordance with the approved Resolution Plan, an application was filed by the Company with BSE and NSE on 21st June, 2022 and 5th September, 2022 respectively for recommencement of trading of Company’s shares. The Company also sought waiver of the Compliance with Minimum Public Sharing (MPS) holding requirement pursuant to Rule 19A of Securities Contracts (Regulation) Rules 1957 and in accordance with the waiver clauses as provided in the Resolution Plan. In response to which several clarifications were sought by BSE and NSE and the Company duly addressed the same. However, NSE and BSE had till date not removed the suspension of the trading which was suspended w.e.f. June 27, 2022 (i.e., closing hours of trading on June 26, 2022) on account of Capital Reduction pursuant to NCLT Order dated April 21, 2022.The Company along with the Successful Resolution Applicant also filed an IA No. 4992 of 2023 in CP IB/1481/PB/2018 seeking the directions of the Hon’ble National Company Law Tribunal to direct the NSE and BSE to waive off the compliance with Minimum Public Shareholding. However, during the course of the argument, the Bench was of the opinion that since the Resolution Plan approved by the Hon’ble Tribunal vide its order 21st April 2022, already stipulates waiver from compliance of SEBI Regulations 38 of the Listing regulations under which a listed entity needs to comply with the Minimum Public Shareholding requirements as specified in Rule 19(2) and Rule 19 A of the Securities Contracts (Regulation) Rules, 1957. The Company has submitted representation to BSE and NSE for recommencement of trading pursuant to hearing before NCLT. The Company awaits a response from BSE and NSE.During the financial year 2022-23, the previous auditor had resigned which resulted into causal vacancy. The Board subsequently appointed M/s. SGCO & CO as statutory auditors of the Company at the meeting of Board held on November 14, 2022. The Company had also appointed certain directors as additional directors to comply with applicable laws. (remaining part of note 7 and 8 limitation of characters – please refer remaining notes from PDF file) Other expenses 8747000.00 0.00 0.00