PANACEABIO2024-07-012024-09-30 PANACEABIO2024-07-012024-09-30 PANACEABIO2024-07-012024-09-30in-bse-fin:OneOperatingExpenses01Member PANACEABIO2024-07-012024-09-30in-bse-fin:FourOperatingExpenses01Member PANACEABIO2024-09-30 PANACEABIO2024-07-012024-09-30in-bse-fin:OneReportableSegmentRevenue01Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneReportableSegmentRevenue02Member PANACEABIO2024-07-012024-09-30in-bse-fin:FourReportableSegmentRevenue01Member PANACEABIO2024-07-012024-09-30in-bse-fin:FourReportableSegmentRevenue02Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneReportableSegmentResults01Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneReportableSegmentResults02Member PANACEABIO2024-07-012024-09-30in-bse-fin:FourReportableSegmentResults01Member PANACEABIO2024-07-012024-09-30in-bse-fin:FourReportableSegmentResults02Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneReportableSegmentAssets01Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneReportableSegmentAssets02Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneReportableSegmentLiabilities01Member PANACEABIO2024-09-30in-bse-fin:OneReportableSegmentLiabilities01Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneReportableSegmentLiabilities02Member PANACEABIO2024-09-30in-bse-fin:OneReportableSegmentLiabilities02Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member PANACEABIO2024-07-012024-09-30in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member PANACEABIO2024-07-012024-09-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member PANACEABIO2024-07-012024-09-30in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 531349 PANACEABIO NOTLISTED Panacea Biotec Limited Equity 2024-04-01 2025-03-31 2024-11-13 2024-10-30 INR Lakhs Half yearly 11:30:00 15:35:00 2024-11-13 2024-11-13 true Cash Flow Indirect Not applicable Multi segment 2024-07-01 2024-09-30 Unaudited Consolidated 1473500000.00 46500000.00 1520000000.00 417700000.00 0.00 14200000.00 434400000.00 9800000.00 86800000.00 537200000.00 1500100000.00 19900000.00 27700000.00 47600000.00 0.00 500000.00 500000.00 0.00 47100000.00 0.00 0.00 0.00 0.00 47100000.00 -2000000.00 45100000.00 48000000.00 -900000.00 46000000.00 -900000.00 61300000.00 1 0.77 0.77 0.00 0.00 0.77 0.77 Notes: 1. The above financial results of Panacea Biotec Limited (‘the Company’ or ‘PBL’) were reviewed by the Audit Committee of the Board of Directors and approved by the Board of Directors at their meetings held on November 12, 2024 and November 13, 2024 respectively and have been reviewed by the statutory auditors of the Company. 2. The financial results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (“Ind AS”) notified under the Companies (Indian Accounting Standards) Rule, 2015, as amended from time to time, specified under section 133 of the Companies Act, 2013. 3. The consolidated financial results of the Company have been prepared by consolidating the Company's reviewed financial results for the respective periods with the reviewed / management certified financial results of the following wholly-owned subsidiaries (“WOS”) and the Enterprises over which the Company exercises control (the Company, these subsidiaries and the enterprises hereinafter collectively referred to as “the Group”): (i) Indian WOS: Panacea Biotec Pharma Limited (“PBPL”) and Meyten Realtech Private Limited; (ii) Overseas WOS: Panacea Biotec (International) S.A., Panacea Biotec Germany GmbH and Panacea Biotec Inc.; and (iii) Enterprises over which the Company exercises control*: PanEra Biotec Private Limited and Adveta Power Private Limited. *considered as a subsidiary for the purpose of consolidation as per Ind AS 110 4. For the half year ended September 30, 2024, the Company has incurred loss (before tax and exceptional items) of Rs.1,368 lakh (half year ended September 30, 2023: profit of Rs.449 lakh) and the Group has incurred a loss (before tax and exceptional items) of Rs.1,780 lakh (half year ended September 30, 2023: loss of Rs.2,526 lakh). In March 2022, PBPL had sold its pharmaceutical formulations brands in India and Nepal, for a total consideration of Rs.187,200 lakh, which enabled the Group to repay its outstanding dues of Non-Convertible Debentures (NCDs) and retain sufficient surplus to fund its existing projects and operations and also helped the Group to enter new market and expediting development of new products. The surplus funds with the Group have also strengthened the working capital position, setting up new facilities for enhancement of capacities for manufacturing of vaccines drug substance and scaling up its pharmaceutical formulations business in international markets including ROW countries, USA / EU, etc. and to pursue other business opportunities. The Company has already received higher long-term business orders for vaccines from key institutional customers. Based on these measures and continuous efforts to improve the business performance, the management has prepared the financial results on a going concern basis. Multi segment 2024-04-01 2024-09-30 Unaudited Consolidated 2630700000.00 84500000.00 2715200000.00 820100000.00 0.00 29000000.00 809400000.00 18500000.00 174100000.00 1042100000.00 2893200000.00 -178000000.00 55100000.00 -122900000.00 0.00 -11200000.00 -11200000.00 0.00 -111700000.00 0.00 0.00 0.00 0.00 -111700000.00 -1700000.00 -113400000.00 -110000000.00 -1700000.00 -111700000.00 -1700000.00 61300000.00 1 -1.80 -1.80 0.00 0.00 -1.80 -1.80 Other Expenses 537200000.00 Other Expenses 1042100000.00 -39900000.00 5458600000.00 842200000.00 159500000.00 0.00 80100000.00 270400000.00 0.00 0.00 700000.00 0.00 300000.00 32100000.00 33100000.00 549200000.00 7393100000.00 1668200000.00 370200000.00 630200000.00 476700000.00 927600000.00 40600000.00 249900000.00 2695200000.00 674300000.00 5037700000.00 0.00 0.00 12430800000.00 61300000.00 8267800000.00 8329100000.00 8289200000.00 215700000.00 4300000.00 220000000.00 284200000.00 196000000.00 163300000.00 863500000.00 0.00 1699900000.00 243400000.00 1943300000.00 982500000.00 351800000.00 500000.00 0.00 3278100000.00 0.00 0.00 4141600000.00 12430800000.00 5. During the half year ended September 30, 2024, the Group has recognised revenue of Rs.551 lakh (half year ended September 30, 2023: Rs.3,051), out of the remaining deferred consideration of Rs.5,710 lakh (September 30, 2023: Rs.9,313 lakh) from sale of domestic pharmaceutical brands, under “Exceptional Item” in the consolidated statement of the profit and loss and the balance deferred consideration of Rs.5,159 lakh (September 30, 2023: Rs.6,262 lakh) would be recognised as revenue in subsequent quarters / years and is shown as Contract Liability. 6. On July 1, 2024, the Company received a copy of Request for Arbitration filed by Human Vaccine Limited Liability Company, Russia (“HV”) with London Court of International Arbitration (“LCIA”) for initiating arbitration alleging that the Company has been in alleged breach of its obligations under the Technology Transfer Agreement dated October 22, 2020 entered into between HV and the Company (“TTA”) for manufacturing of Covid-19 vaccine, and is thus liable to refund the advance payment of US$ 7 million plus interest thereon as may be awarded over the course of arbitration. The Company believes that due to the failure on the part of HV to demonstrate & transfer the technology and certain other reasons beyond the Company’s control, the complex process of technology transfer and manufacture of Sputnik-V vaccine could not be completed successfully and the TTA stood frustrated and accordingly both the parties stood automatically discharged from their obligations by operation of law. The Company has already incurred huge expenses on the said project and is thus entitled to adjust the same against the advance received from HV. The Company has already conveyed its position to HV and has offered to refund the balance amount of US$ 0.42 million. Based on the Company’s assessment, duly supported by legal advice, the Company believes that it will not be liable to pay back the amount adjusted towards wasted expenses and costs under dispute with HV and the outcome of this arbitration proceeding is not reasonably expected to have any material financial impact on the Company. The Company is taking requisite steps to safeguard its interest and is in the process of filing its response to the said notice. Formulations 707300000.00 Vaccines 766200000.00 Formulations 1295800000.00 Vaccines 1334900000.00 1473500000.00 2630700000.00 0.00 0.00 1473500000.00 2630700000.00 Formulations 11200000.00 Vaccines 36400000.00 Formulations -26600000.00 Vaccines -96300000.00 47600000.00 -122900000.00 0.00 0.00 0.00 7. The Board has, at its meeting held on November 13, 2024, approved raising of funds by way of an External Commercial Borrowing (“ECB”) of an amount upto US$ 20 million (equivalent to ~Rs.168.16 Crore) from the U.S. Government’s Development Finance Institution, the U.S. International Development Finance Corporation (“DFC”) in relation to the construction and setting-up of additional vaccine manufacturing facility in India in order to increase the production of the Company’s hexavalent vaccine EasySix and refinancing of its existing loans availed from affiliates for the said Projects. 8. The Company publishes standalone financial results along with the consolidated financial results. In accordance with Ind AS 108, ‘Operating Segments’, the management has disclosed the segment information in the consolidated financial results. Accordingly, the segment information is given in the consolidated financial results of the Group for the quarter and half year ended September 30, 2024. 9. The necessary certificate / report in respect of the above results in terms of requirement of Regulation 33 of the SEBI (Listing Obligations and Other Disclosure Requirements) Regulations, 2015, has been placed before the Board of Directors. 10. Previous period amounts have been regrouped/ reclassified in compliance with Ind-AS to make them comparable with those of current period / year. 11. ‘0’ under “Rs. in Lakh” represents an amount less than Rs.50,000. Further, the figures shown in the tables may not exactly add up due to rounding off. 12. The above results are also available on the Company’s website https://www.panaceabiotec.com 0.00 47600000.00 -122900000.00 Formulations 4412700000.00 Vaccines 8018100000.00 12430800000.00 0.00 12430800000.00 Formulations 1015900000.00 Vaccines 3125700000.00 4141600000.00 0.00 4141600000.00 18500000.00 111100000.00 -85700000.00 0.00 151000000.00 -58000000.00 -1000000.00 -203300000.00 0.00 158800000.00 0.00 -37800000.00 0.00 174100000.00 0.00 -6800000.00 6200000.00 70400000.00 7500000.00 -4600000.00 0.00 34900000.00 0.00 0.00 0.00 0.00 0.00 -18200000.00 0.00 247300000.00 124400000.00 0.00 0.00 0.00 11700000.00 -16500000.00 96200000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 158900000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 34900000.00 0.00 45500000.00 0.00 -78500000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5800000.00 0.00 0.00 0.00 0.00 18500000.00 0.00 0.00 -12700000.00 5000000.00 0.00 5000000.00 471700000.00 476700000.00 Items that will not be reclassified to profit or loss -1300000.00 Items that will not be reclassified to profit or loss -2300000.00 -1300000.00 -2300000.00 -300000.00 -600000.00 Items that will be reclassified to profit or loss -1000000.00 Items that will be reclassified to profit or loss 0.00 -1000000.00 0.00 0.00 0.00