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Arts LimitedMain BoardEquity2025-04-012026-03-312026-05-222026-05-15INRLakhsQuarterlyFourth quarterMulti segment2026-05-2217:15:002026-05-2217:45:00trueCash Flow IndirectStatement on impact of audit qualificationtruetrueNANAfalsetrue2025-05-28https://muktaarts.com/Aboutus/investorsrelation/Corporate-Governance/MAL_Materiality%20of%20RPT%20Revised.pdffalsefalseNA2026-01-012026-03-31AuditedStandalone776400004885400012649400000016006000141820006500000560800009276800033726000-6507000272190004700000-18600045140000227050000000227050004820002318700011292600051.011.01001.011.010.0030.01701. The above financial results have been reviewed by the Audit committee and approved by the Board of Directors at the meeting held on 22nd May 2026. <BR> 2 In terms of order dated 9th February 2012 passed by the High Court of Judicature at Bombay (‘High Court’), Maharashtra Film Stage and Cultural Development Corporation (‘MFSCDC’) raised net demand of Rs. 59,19,66,210 and asked Whistling Woods International Limited (WWIL) to vacate the premises. The Company's and WWIL’s Review Petitions were heard by High Court and a stay was granted on 30 July 2014. However, the High Court ordered the Company/WWIL to pay Rs 10,00,38,000 by January 2015 against arrears of rent for the years 2000-01 to 2013-14 and Rs 45,00,000 per annum from the financial year 2014-15. As per the terms of the said Order, till 31st March 2026 Rs 11,35,38,000 has been paid by the Company and Rs 3,60,00,000 has been paid by WWIL. The State Government of Maharashtra and MFSCDC challenged the Order of the High Court in the Supreme Court which was dismissed by the court on 22nd September 2014 with recourse to the State Government of Maharashtra to make an application to Bombay High Court. The Maharashtra State Cabinet has on 25th September 2018 approved allotment of 5.5 acres of land on lease basis to the Company. However the matter is sub-juidice and is subject to final disposal by the Honorable Bombay High Court. The auditors continue to modify their report on the said matter. <BR> 3 Figures for the corresponding quarter of the previous year have been regrouped / rearranged to conform to current quarter’s presentation2025-04-012026-03-31AuditedStandalone14821300016516200031337500000058708000589140002544200010212000024518400068191000-65070006168400047000001058000575800005592600000005592600048200056408000112926000519014440002.482.48002.482.480.0030.0480Other Direct Operational Expenses30903000Other Expenses25177000Other Direct Operational Expenses38475000Other Expenses636450008228200012870001212290000612000040137000003582760000439806000462233000126031500021403000164402000169717500007651300041824300055370002785000092035000089176000153766900015238000155290700032500820001129260001901444000201437000020143700005287380000003272500056146300013212000573821000114849600028400000866000100090001087500030909000701840001218800048440008721600012357120003250082000Other462233000Other non-current assets164402000Other current financial assets89176000Other current assets15238000Other Financial Liabilities29598000Lease Liability3127000Other non-current liabilities573821000Lease Liability7820000Other current financial liabilities23089000Other current liabilities12188000Software Division56136000Equipment Division (including other income)1100000Theatrical Exhibition Division0Other20404000Software Division65952000Equipment Division (including other income)2466000Theatrical Exhibition Division0Other797970007764000014821500077640000148215000Software Division22202000Equipment Division (including other income)909000Theatrical Exhibition Division0Other15430000Software Division-10115000Equipment Division (including other income)1835000Theatrical Exhibition Division0Other6093100038541000526510001418200058914000-9367000-744530003372600068190000Software Division108158000Equipment Division (including other income)10506000Theatrical Exhibition Division45316000Other13928800030326800029311750003234443000Software Division595055000Equipment Division (including other income)0Theatrical Exhibition Division28400000Other314230006548780005651920001220070000589140000-327590000-1477000-26445000-9261000-219300000-34610000269100011390200025441000102000-2720009720002057000288000001347510000-39900000065070000-1988100041803000000246650000171380000160630000000002315000158570000000000000000000001347510000-330040007214200000000000031578000005891400000-90492000-12120000-121200067490005537000Other comprehensive income482000482000Other comprehensive income48200048200000482000482000Mukta Arts Limited******Mukta VN Films Ltd******Subsidary CompanySale of goods or services6120000-30600002223300022048000Mukta Arts Limited******Mukta A2 Cinemas Private Limited******Subsidary CompanyAny other transactionRent and Maintenance Charge3200000-15380002544500027121000Mukta Arts Limited******Whistling Woods International Limited******Subsidary CompanyAny other transactionRent and Maintenance Charge16000000-791900044870002843000Mukta Arts Limited******Ashok Krishandayal Ghai******Relative of DirectorAny other transactionProfessional Fees4200000-2076000374000374000Mukta Arts Limited******Whistling Woods International Limited******Subsidary CompanyInterest received-14894000635800011155000Mukta Arts Limited******Mukta A2 Multiplex WLL******Subsidary CompanyInterest received-53040004990700045315000Mukta Arts Limited******Mukta A2 Cinemas Private Limited******Subsidary CompanyInterest received-3402300089180000119801000Mukta Arts Limited******Mukta VN Films Ltd******Subsidary CompanyInterest received-9230002088300022048000Mukta Arts Limited******Siraj Farooqui******Relative of DirectorRemuneration5900000-29190000386000Mukta Arts Limited******Sameer Farooqui******Relative of DirectorRemuneration1800000-7820000109000Mukta Arts Limited******Subhash Krishandayal Ghai******Chairman and Whole-time DirectorRemuneration9400000-435000001320000Mukta Arts Limited******Rahul Puri******Managing DirectorRemuneration7400000-33730000366000Mukta Arts Limited******Muskaan Ghai******Relative of DirectorRemuneration-185000055000Mukta Arts Limited******Mukta A2 Cinemas Private Limited******Subsidary CompanyLoan-1000000688200000689200000Loan0Payable on demandLoan0.1Payable on demandUnsecuredWorking CapitalMukta Arts Limited******Whistling Woods International Limited******Subsidary CompanyLoan-24000000255500000268000000Loan0Payable on demandLoan0.11Payable on demandUnsecuredWorking CapitalMukta Arts Limited******Whistling Woods International Limited******Subsidary CompanyLoan-11500000255500000268000000Loan0Payable on demandLoan0.11Payable on demandUnsecuredWorking CapitalLoan RepaymentMukta Arts Limited******Mukta A2 Multiplex WLL******Subsidary CompanyLoan-2519000178030000182200000Loan0Payable on demandLoan0.06Payable on demandUnsecuredWorking CapitalMukta Arts Limited******Mukta A2 Multiplex WLL******Subsidary CompanyLoan-7278000178030000182200000Loan0Payable on demandLoan0.06Payable on demandUnsecuredWorking CapitalLoan RepaymentMukta Arts Limited******Mukta VN Films Ltd******Subsidary CompanyLoan-50000002000000025000000Loan0Payable on demandLoan0.09Payable on demandUnsecuredWorking CapitalMukta Arts Limited******Whistling Woods Internationl Foundation******Director is InterestedAny other transactionCSR Spend-247000000135113000AuditedQualified opinionGAMS & Associates LLPtrue2029-04-3031334100031334100024514700024514700068192000681920002.482.48325008000032500800001235710000123571000020143700002014370000As at March 31, 2026, the companys investment in its subsidiary (including deemed investment), Whistling woods International Limited (WWIL) a joint venture between the company and Maharashtra Film, Stage and Cultural Development Corporation Limited (MFSCDCL), aggregates to Rs. 19,95,11,218/- and loans and advances, deposits, interest receivable and rent receivable aggregate to Rs. 64,13,83,146/- recoverable from WWIL. As fully explained in Note 42 to the accompanying audited financial statements, the Order of February 9, 2012 passed by the High Court of judicature at Bombay (High Court), had quashed the joint Venture Agreement (JVA) between the company and Maharashtra Film Stage Cultural Development Corporation (MFSCDCL). Maharashtra Film Stage and <br></br> <br></br> Cultural Development Corporation (MFSCDC) raised net demand of Rs. 59,19,66,210/-and asked WWIL to vacate the premises-. WWILs petition for special leave to appeal filed with the Supreme Court of India had also been dismissed. The Company and WWIL had filed application to review the said order with the High Court and an Interim stay was granted on July 30, 2014 which required deposit of Rs.10,00,38,000/- by January 2015 against payment of arrears of rent for the year 2000-01 to 2013-14 and payment of Rs.45,00,000/- per annum from Financial Year 2014-15 till the settlement of the case, to MFSCDCL. As per the terms of the said Order, till financial year 2016-17, Rs. 11,35,38,000/- has been paid by the Parent Company and for financial year 2017-18 to 2021-22 Rs. 45,00,000/- per annum has been paid by WWIL. The State Govt. of Maharashtra and MFSCDCL challenged the order of the High Court in the Supreme Court which was dismissed by the Supreme Court on September 22, 2014. The amount so paid <br></br> / being paid by the Company have been accounted under Non - Current Other Financial Assets in the Standalone Financial Statements to be adjusted on the settlement of the case. <br></br> <br></br> Additionally, without giving effect to the matter as stated above, WWIL's net worth stands fully eroded as at 31 March, 2026. Having regard to the circumstances explained above and pending final outcome of the matter under litigation, the Company has not made any adjustment to the carrying value of investment in and amounts due from WWIL and the deposit paid consequent to the High Courts Orders. Accordingly, the impact on the carrying value of investments, recoverability of loans and advances and consequential impact on profit / loss for the year and reserves is not determinable. <br></br> <br></br> Qualified opinionRepetitiveNot ApplicableNot ApplicableHaving regard to the circumstances and pending final outcome of the matter under litigation, the company has not made any adjustment to the carrying value of Investment in and amounts due from WWIL and the deposit paid consequent to the High Courts Orders. Accordingly the impact on the carrying value of investments, recoverability of loans and advances and consequential impact on loss for the year and reserves is not determinableAs per the explanation provided by the Management in point (ii) above, the impact on the carrying value of investments, recoverability of loans and advances and consequential impact on loss for the year and reserves is not determinable.Rahul PuriJabir ContractorKapil BaglaPushpendra SuranaMumbai2026-05-22