Bharati Defence and Infrastructure Limited (BDIL) has submitted its integrated financial filing for the quarter and nine months ending December 31, 2024, in accordance with the requirements of SEBI Circular No. SEBI/HO/CFD/CFD-PoD2/CIR/P/2024/185 dated December 31, 2024, and other related regulations. This filing is in line with BSE Circular No. 20250102-4 dated January 02, 2025, and NSE Circular No. NSE/CML/2025/02 dated January 2, 2025.

The financial results for the period have been submitted as per Annexure-I, which includes detailed information regarding the revenue from operations, expenses, and profit figures for the quarter and nine months ended December 31, 2024. The unaudited results include figures for various key segments such as sale of products (including ships, rigs, and windmill income) and sale of services. However, it is important to note that no variation or deviation has been reported in relation to proceeds from public issues, rights issues, preferential issues, or qualified institutional placements for the quarter ending December 31, 2024.

Details of Financial Performance

The company has provided a comprehensive report detailing its operational revenue, which includes income from the manufacturing of ships and windmills. Additionally, income generated from the sale of scrap and assets has also been included in the report. The total revenue from operations and other income (both operational and non-operational) has been outlined in the integrated filing.

The report also highlights employee benefit expenses, finance costs, and other expenditures incurred during the period. Notably, depreciation, depletion, and amortization expenses are included, along with the profit before tax and tax expenses. The company has reported no audit qualifications, and the tax expense is broken down into current tax, deferred tax, and any adjustments for tax of earlier years.

Segment Performance

The company operates in the Defence and Infrastructure sector, primarily focusing on the manufacturing of vessels and windmills. The report emphasizes the performance of these segments and how Bharati Defence has managed to maintain operational efficiency, despite challenges in the market.

Liquidation Process and Financial Adjustments

Bharati Defence and Infrastructure was in a liquidation process during part of the reporting period. The liquidator prepared the financial figures, and the company is currently in the process of ensuring full compliance with Indian Accounting Standards (Ind AS). On June 12, 2024, the sale certificate was received, and new management took over the company, assuming responsibility for its operations and compliance.

The figures for the quarters ended September 30, 2023, and December 31, 2023, as well as the nine-month period ending December 31, 2023, are unavailable due to the liquidation process. However, the financials for the year ending March 31, 2024, were prepared by the liquidator and are reflected in the current filings. The company is in the process of making necessary adjustments to the accounts, and these adjustments are expected to be finalized shortly.

Compliance and Investor Communication

Bharati Defence and Infrastructure has emphasized its commitment to regulatory compliance and transparent investor communication. The company has ensured that all necessary filings and disclosures are made according to SEBI regulations and listing requirements. Despite being under liquidation for part of the year, the company has made substantial efforts to maintain accurate financial records.

The integrated financial filing for the quarter and nine months ending December 31, 2024, is available on the company’s website as well as on the BSE and NSE websites. The company has also disclosed that there were no investor complaints received for the period under review.

Future Outlook and Industry Trends

Looking forward, Bharati Defence and Infrastructure aims to continue its efforts in the defence sector, especially in the manufacturing of vessels and windmills, both of which have shown potential for growth. The defence manufacturing sector is expected to benefit from the Indian government's focus on strengthening its defence capabilities, creating further business opportunities for the company.

Additionally, the company is focusing on ensuring the completion of financial adjustments and compliance with Ind AS during the current year. The new management is dedicated to restructuring the company and improving its operational efficiency, ensuring that the company emerges stronger post-liquidation.

Conclusion

The submission of the integrated financial filing for the quarter and nine months ended December 31, 2024 marks a crucial step in Bharati Defence and Infrastructure's commitment to financial transparency and regulatory compliance. As the company moves forward with its restructuring plans, investors can expect continued updates and improvements in its financial and operational performance.