MGEL2023-01-012023-03-31 MGEL2023-01-012023-03-31 MGEL2023-01-012023-03-31in-bse-fin:OneOperatingExpenses01Member MGEL2023-01-012023-03-31in-bse-fin:FourOperatingExpenses01Member MGEL2023-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares MGEL NOTLISTED Mangalam Global Enterprise Limited Equity 2022-04-01 2023-03-31 2023-05-15 2023-05-08 INR Lakhs Yearly 17:00:00 20:15:00 2023-05-15 2023-05-15 true Cash Flow Indirect Declaration of unmodified opinion Single segment The Company is mainly engaged in Agro based Commodities and which is considered as only a reportable primary business segment as per Indian Accounting Standard Operating Segment (IndAs-108). As such, no separate disclosure for Segment Reporting is made. 2023-01-01 2023-03-31 Audited Consolidated 3331266000.00 13291000.00 3344557000.00 1468327000.00 1566210000.00 -3635000.00 18882000.00 40292000.00 8992000.00 148474000.00 3247542000.00 97015000.00 -401000.00 96614000.00 -13413000.00 32924000.00 19511000.00 0.00 77103000.00 0.00 0.00 0.00 0.00 77103000.00 -909000.00 76194000.00 77103000.00 0.00 -909000.00 0.00 76194000.00 0 0.59 0.55 0.00 0.00 0.59 0.55 0.00 0.00 0.00 The above Audited Consolidated Financial Results (Consolidated Statement) of Mangalam Global Enterprise Limited (the Holding Company) and its subsidiaries (together referred as the Group) for the quarter and year ended on 31 March 2023 were reviewed and recommended by the Audit committee and approved by the Board of Directors, at their respective meeting held on 15 May 2023. These results have been subject to audit by the Statutory Auditors. List of Entities Consolidated in the Statement: Name of the Subsidiary Companies Status Mangalam Global (Singapore) Pte. Ltd. Wholly Owned Subsidiary Mangalam Global (UK) Limited Wholly Owned Subsidiary 3. The above Consolidated Financial Results are prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standard) Rules, 2015 (as amended)4. The figures for the quarter ended 31 March 2023 and 31 March 2022 are the balancing figures between the audited figures in respect of full financial year and year-to-date figures up to the third quarter of the relevant financial year.5. Vide order dated 20 September 2022, Honble NCLT Ahmedabad (the adjudicating authority) has allowed, u/s 30(6) of the Insolvency and Bankruptcy Code, 2016, the resolution plan submitted by Mangalam Global Enterprise Limited (MGEL) in respect of corporate debtor M/s H. M. Industrial Private Limited (HMIPL) (under Corporate Insolvency Resolution Process (CIRP). The resolution plan, amongst other matters, provides that upon the approval of the resolution plan by the NCLT and settlement & receipt of the payment towards CIRP costs and by the creditors in terms of the plan, all the liabilities, demands, claims of any nature remaining as on the effective date 20 September 2022 and/ or are remaining as on that date shall stand extinguished without any further act or deed. In view of the above the Company does not expect any liability/ demand except those provided in the accounts. Further as per the approved plan submitted along with the composite scheme of arrangement, Steel Division of HMIPL is to be demerged and be vested into Mangalam Worldwide Limited (MWL) a group company; and HMIPL and its rest business (i.e. Agro Business - Castor and Cotton) is amalgamated with Mangalam Global Enterprise Limited (MGEL) with effect from appointed date i.e. 20 September 2022. Consequently, effect of the scheme including the tax impact has been given in the financial results in accordance with Ind AS 103 Business Combinations. 6. As the castor unit acquired pursuant to the aforesaid resolution plan is not in operating condition and requires major rehauling/ modernisation and hence is accounted for as project under construction. Accordingly, acquisition cost Rs. 400.73 Lakhs, project expenses/ project preoperative expenses Rs. 597.03 Lakhs and borrowing cost Rs. 20.39 Lakhs have been shown under the head Capital Work in Progress (CWIP).7. The comparative figures for the previous periods are not comparable with that of the current period, due to following Divestment in subsidiaries: Sr. No. Name of Entity Nature of Entity With effect from 1 Rajgor Castor Derivatives Private Limited (formerly known as Hindprakash Castor Derivatives Private Limited) Subsidiary 01st January, 2022 2 Farpoint Enterprise LLP Subsidiary 01st April, 2022 (b)The financial results include those for the Agro Business units acquired from H M Industrial Private Limited with effect from 20 September 2022. Single segment 2022-04-01 2023-03-31 Audited Consolidated 14251958000.00 52445000.00 14304403000.00 5115181000.00 8181372000.00 106419000.00 73891000.00 137880000.00 31244000.00 492191000.00 14138178000.00 166225000.00 -5529000.00 160696000.00 3181000.00 30551000.00 33732000.00 0.00 126964000.00 0.00 0.00 0.00 0.00 126964000.00 14475000.00 141439000.00 126964000.00 0.00 14475000.00 0.00 141439000.00 0 867056000.00 0.98 0.90 0.00 0.00 0.98 0.90 0.00 0.00 0.00 Other Expences 148474000.00 Other Expences 492191000.00 0.00 644976000.00 103054000.00 0.00 0.00 737000.00 0.00 0.00 0.00 30560000.00 0.00 0.00 11905000.00 42465000.00 172238000.00 14506000.00 977976000.00 689383000.00 0.00 2096931000.00 25855000.00 88375000.00 25756000.00 7700000.00 2244617000.00 0.00 479680000.00 3413680000.00 0.00 0.00 4391656000.00 277111000.00 867056000.00 1144167000.00 1144167000.00 163223000.00 0.00 142665000.00 305888000.00 4978000.00 310866000.00 2219862000.00 687849000.00 26283000.00 2933994000.00 0.00 2629000.00 0.00 0.00 2936623000.00 0.00 0.00 3247489000.00 4391656000.00 8. Revenue from operations includes: Particulars Rs. In Lakhs (Unless Otherwise Stated) Quarter Ended Year Ended 31-03-2023 31-12-2022 31-03-2022 31-03-2023 31-03-2022 Sale of Products 32499.37 57274.48 59267.57 140247.45 127363.77 Sale of Services 4.31 9.50 131.53 357.52 261.53 Other Operating Revenue (i) Export incentive income 23.52 39.10 14.30 135.76 100.71 (ii) Net Gain of Contract Settlement 785.46 19.70 2.75 1778.85 167.02 (ii) others 0.00 0.00 0.99 0.00 1.62 Total 33312.66 57342.78 59417.14 142519.58 127894.65 9. Other income includes: Particulars Rs. In Lakhs (Unless Otherwise Stated) Quarter Ended Year Ended 31-03-2023 31-12-2022 31-03-2022 31-03-2023 31-03-2022 Interest Income 68.57 19.14 53.69 141.71 271.80 Gain on Foreign Exchange Fluctuation (Net) 48.08 29.03 11.94 134.65 75.33 Gain on Lease Termination (Net) 0.00 0.00 11.74 0.00 11.74 Corporate Guarantee Commission Income 0.00 0.00 0.00 0.00 1.01 Lease Rental Income 7.64 5.35 7.51 23.68 32.17 Sundry Balances Written Off / (Written Back) 1.10 21.01 0.00 164.51 0.00 Other Income 6.07 19.73 11.77 58.45 35.33 Total 131.46 94.26 96.65 523.00 427.38 10. Segment Reporting is attached herewith11. Forensic audit of MGEL with regard to the financial statement of the Company in context with the disclosure of financial information and the business transactions initiated by SEBI is still ongoing. The Company has been continuously co-operating with the authority in this regard by providing the details being sought from the Company. 12. Previous years/ periods figures have been regrouped/ rearranged/ reclassified wherever considered necessary. 137880000.00 493052000.00 -1318536000.00 0.00 -355462000.00 86000.00 0.00 11491000.00 0.00 259224000.00 0.00 -98905000.00 0.00 31244000.00 0.00 1674000.00 0.00 0.00 0.00 16062000.00 89000.00 14171000.00 0.00 0.00 0.00 0.00 0.00 2278000.00 0.00 -834172000.00 -673476000.00 0.00 0.00 0.00 11274000.00 12469000.00 -672281000.00 0.00 0.00 0.00 -442000.00 0.00 0.00 0.00 -33670000.00 0.00 403307000.00 0.00 0.00 0.00 0.00 0.00 48572000.00 0.00 0.00 0.00 0.00 0.00 0.00 61540000.00 0.00 0.00 0.00 89000.00 13215000.00 0.00 55122000.00 0.00 -410881000.00 0.00 0.00 65813000.00 0.00 0.00 0.00 0.00 0.00 1183533000.00 0.00 0.00 29453000.00 8418000.00 120431000.00 0.00 0.00 1091044000.00 7882000.00 0.00 7882000.00 17973000.00 25855000.00 890000.00 -14813000.00 19000.00 338000.00