General information about company
Scrip code*		532989
NSE Symbol*		BAFNAPH
MSEI Symbol*		NOTLISTED
ISIN*		INE878I01022
Name of company		BAFNA PHARMACEUTICALS LIMITED
Type of company		Main Board
Class of security		Equity
Date of start of financial year		01-04-2024
Date of end of financial year		31-03-2025
Date of board meeting when results were approved		26-05-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange		19-05-2025
Description of presentation currency		INR
Level of rounding		Lakhs
Reporting Type		Quarterly
Reporting Quarter		Fourth quarter
Nature of report standalone or consolidated		Standalone
Whether results are audited or unaudited for the quarter ended		Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended		Audited
Segment Reporting		Single segment
Description of single segment		Pharmaceuticals
Start date and time of board meeting		26-05-2025 14:30
End date and time of board meeting		26-05-2025 16:10
Whether cash flow statement is applicable on company		Yes
Type of cash flow statement		Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification		Declaration of unmodified opinion
Whether the company has any related party?		Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?		Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public		NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of bank’s staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.		NA
(III) Whether the company is a ‘high value debt listed entity’ according to regulation 15 (1A)?		No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?		Yes
Latest Date on which RPT policy is updated		26-05-2025
Indicate Company website link for updated RPT policy of the Company		www.bafnapharma.com
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?		No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No	The Company has not defaulted on repayment of Loans and Debt Securities.

Financial Results – Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-01-2025	01-04-2024
Date of end of reporting period		31-03-2025	31-03-2025
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	3906	14585.7
	Other income	102.5	274.22
	Total income	4008.5	14859.92
2	Expenses
(a)	Cost of materials consumed	1742.65	7448.56
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	412.42	644.65
(d)	Employee benefit expense	558.11	2102.97
(e)	Finance costs	82.22	273.13
(f)	Depreciation, depletion and amortisation expense	21.51	488.97
(g)	Other Expenses
1	Manufacturing Expenses	503.23	2212.89
2	Other Expenses	378.39	1058.94
	Total other expenses	881.62	3271.83
	Total expenses	3698.53	14230.11
3	Total profit before exceptional items and tax	309.97	629.81
4	Exceptional items	-178.87	-214.56
5	Total profit before tax	131.1	415.25
6	Tax expense
7	Current tax	0	0
8	Deferred tax	0	0
9	Total tax expenses	0	0
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	131.1	415.25
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	131.1	415.25
17	Other comprehensive income net of taxes	-21.24	-18.5
18	Total Comprehensive Income for the period	109.86	396.75
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	2365.63	2365.63
	Face value of equity share capital	10	10
22	Reserves excluding revaluation reserve		6318.67
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	0.55	1.76
	Diluted earnings (loss) per share from continuing operations	0.55	1.76
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
iii	Earnings per equity share (for continuing and discontinued operations)
	Basic earnings (loss) per share from continuing and discontinued operations	0.55	1.76
	Diluted earnings (loss) per share from continuing and discontinued operations	0.55	1.76
24	Debt equity ratio			Textual Information( 1)
25	Debt service coverage ratio			Textual Information( 2)
26	Interest service coverage ratio			Textual Information( 3)
27	Disclosure of notes on financial results	Textual Information(4)

Text Block

Textual Information(4)

Notes:
1. The financial results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors of the Company at their respective meetings held on 26th May, 2025. The statutory auditors have carried out the audit of the above financial results.
2. The figures for the quarter ended 31st March 2025 & preceding quarter ended 31st March 2024 are the balancing figures between the audited year to date figures for the year ended 31st March and the unaudited published figures for the nine months ended 31st December of the respective financial years.The figures for the corresponding previous periods have been regrouped and reclassified, wherever necessary, to make them comparable.
3. Company's business relates to the manufacturing of pharmaceuticals formations, which in context of Indian Accounting Standards 108 (Ind AS 108) as notified under Section 133 of the Companies Act, 2013 is considered as the only segment.
4. The Company is required to maintain the Minimum Public Shareholding (“MPS”) as prescribed under Rule 19A of the Securities Contracts (Regulation) Rules, 1957 and Regulation 38 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Promoter of the Company had issued Notice of Offer for Sale in the earlier period for certain equity shares. However, the said offer had not garnered the requisite number of subscribers to reach the MPS Criteria. The Promoters took steps to regularise the statutory non-compliance and initiated further measures to achieve the required public shareholding. As a result, the Promoters completed the sale of shares through the OFS, and the Company achieved the prescribed Minimum Public Shareholding as on April 2, 2025 and in the process of obtaining waiver for the penalty levied the Stock Exchanges.
5. Exceptional items for the year ended 31st March 2025 represents the following:
(a) Derecognition of certain inventory items amounting to INR 37.56 Lakhs
(b) Derecognition of Intangible Asset under Development amounting to INR 177 Lakhs. The management has derecognised the Intangible Asset under Development as it does not foresee that any future economic benefit would accrue to the Company in respect of the expenditure incurred in the earlier financial years towards obtaining certain product registrations.
6. The Board of Directors of the Company, at its meeting held on 13th August, 2024, had approved the sale of assets of the Manufacturing unit of the Company located at Madhavaram, subject to regulatory approvals, which was also approved by the shareholders at the AGM held on 25th September, 2024. Accordingly, the assets of the Madhavaram unit is classified as "Assets Held for Sale". The management expects the sale process to be concluded in the ensuing quarters.

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2024
Date of end of reporting period		31-03-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	5877.99
	Capital work-in-progress	731.32
	Investment property	0
	Goodwill	0
	Other intangible assets	0
	Intangible assets under development	0
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	0.05
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	80.66
	Total non-current financial assets	80.71
	Deferred tax assets (net)	0
	Other non-current assets	0
	Total non-current assets	6690.02
2	Current assets
	Inventories	2808.61
	Current financial asset
	Current investments	0
	Trade receivables, current	4017.35
	Cash and cash equivalents	343.27
	Bank balance other than cash and cash equivalents	0
	Loans, current	2.3
	Other current financial assets	0
	Total current financial assets	4362.92
	Current tax assets (net)	29.79
	Other current assets	1271.44
	Total current assets	8472.76
3	Non-current assets classified as held for sale	145.13
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	15307.91
	Total current assets	8472.76
3	Non-current assets classified as held for sale	145.13
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	15307.91
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	2365.63
	Other equity	6115.02
	Total equity attributable to owners of parent	8480.65
	Non controlling interest
	Total equity	8480.65
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	1402.85
	Trade Payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	0
	Total non-current financial liabilities	1402.85
	Provisions, non-current	47.82
	Deferred tax liabilities (net)	0
	Deferred government grants, Non-current	0
	Other non-current liabilities	191.42
	Total non-current liabilities	1642.09
	Current liabilities
	Current financial liabilities
	Borrowings, current	1417.01
	Trade Payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	930.21
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	2164.31
	Total Trade payable	3094.52
	Other current financial liabilities	258.4
	Total current financial liabilities	4769.93
	Other current liabilities	276.94
	Provisions, current	138.3
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	5185.17
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	6827.26
	Total equity and liabilities	15307.91
	Disclosure of notes on assets and liabilities	Textual Information(1)

Other Comprehensive Income
Date of start of reporting period		01-01-2025	01-04-2024
Date of end of reporting period		31-03-2025	31-03-2025
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
	Total Amount of items that will not be reclassified to profit and loss
2	Income tax relating to items that will not be reclassified to profit or loss	21.24	18.50
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income	-21.24	-18.50

Cash flow statement, indirect
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2024
Date of end of reporting period		31-03-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
Part I	Blue color marked fields are non-mandatory.
1	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax	415.25
2	Adjustments for reconcile profit (loss)
	Adjustments for finance costs	273.13
	Adjustments for decrease (increase) in inventories	118.02
	Adjustments for decrease (increase) in trade receivables, current	550.4
	Adjustments for decrease (increase) in trade receivables, non-current	0
	Adjustments for decrease (increase) in other current assets	309.51
	Adjustments for decrease (increase) in other non-current assets	0
	Adjustments for other financial assets, non-current	5.88
	Adjustments for other financial assets, current	62.7
	Adjustments for other bank balances	0
	Adjustments for increase (decrease) in trade payables, current	-447.73
	Adjustments for increase (decrease) in trade payables, non-current	0
	Adjustments for increase (decrease) in other current liabilities	77.68
	Adjustments for increase (decrease) in other non-current liabilities	0
	Adjustments for depreciation and amortisation expense	488.97
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss	0
	Adjustments for provisions, current	81.57
	Adjustments for provisions, non-current	0
	Adjustments for other financial liabilities, current	76.47
	Adjustments for other financial liabilities, non-current	0
	Adjustments for unrealised foreign exchange losses gains	0
	Adjustments for dividend income	0
	Adjustments for interest income	13.64
	Adjustments for share-based payments	0
	Adjustments for fair value losses (gains)	0
	Adjustments for undistributed profits of associates	0
	Other adjustments for which cash effects are investing or financing cash flow	0
	Other adjustments to reconcile profit (loss)	223.82
	Other adjustments for non-cash items	-43.47
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships	0
	Total adjustments for reconcile profit (loss)	1763.31
	Net cash flows from (used in) operations	2178.56
	Dividends received	0
	Interest paid	0
	Interest received	0
	Income taxes paid (refund)	-35.03
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) operating activities	2213.59
3	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses	0
	Cash flows used in obtaining control of subsidiaries or other businesses	0
	Other cash receipts from sales of equity or debt instruments of other entities	0
	Other cash payments to acquire equity or debt instruments of other entities	0
	Other cash receipts from sales of interests in joint ventures	0
	Other cash payments to acquire interests in joint ventures	0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships	0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships	0
	Proceeds from sales of property, plant and equipment	5.86
	Purchase of property, plant and equipment	2185.97
	Proceeds from sales of investment property	0
	Purchase of investment property	0.05
	Proceeds from sales of intangible assets	0
	Purchase of intangible assets	0
	Proceeds from sales of intangible assets under development	0
	Purchase of intangible assets under development	0
	Proceeds from sales of goodwill	0
	Purchase of goodwill	0
	Proceeds from biological assets other than bearer plants	0
	Purchase of biological assets other than bearer plants	0
	Proceeds from government grants	50
	Proceeds from sales of other long-term assets	0
	Purchase of other long-term assets	0
	Cash advances and loans made to other parties	0
	Cash receipts from repayment of advances and loans made to other parties	0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts	0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts	0
	Dividends received	0
	Interest received	13.87
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) investing activities	-2116.29
4	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries	0
	Payments from changes in ownership interests in subsidiaries	0
	Proceeds from issuing shares	0
	Proceeds from issuing other equity instruments	0
	Payments to acquire or redeem entity's shares	0
	Payments of other equity instruments	0
	Proceeds from exercise of stock options	0
	Proceeds from issuing debentures notes bonds etc	0
	Proceeds from borrowings	380.93
	Repayments of borrowings	0
	Payments of lease liabilities	0
	Dividends paid	0
	Interest paid	274.56
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) financing activities	106.37
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes	203.67
5	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents	0
	Net increase (decrease) in cash and cash equivalents	203.67
	Cash and cash equivalents cash flow statement at beginning of period	139.6
	Cash and cash equivalents cash flow statement at end of period	343.27

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)

Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.

Sr. No.

Details of the party (listed entity /subsidiary) entering into the transaction

Details of the counterparty

Type of related party transaction

Details of other related party transaction

Value of the related party transaction as approved by the audit committee

Remarks on approval by audit committee

Value of the related party transaction ratified by the audit committee

Date of Audit Committee Meeting where the ratification was approved

Value of transaction during the reporting period

In case monies are due to either party as a result of the transaction

In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments

Details of the loans, inter-corporate deposits, advances or investments

Name

PAN

Name

PAN

Relationship of the counterparty with the listed entity or its subsidiary

Opening balance

Closing balance

Nature of indebtedness (loan/ issuance of debt/ any other etc.)

Details of other indebtedness

Cost

Tenure

Nature (loan/ advance/ intercorporate deposit/ investment)

Interest Rate (%)

Tenure

Secured/ unsecured

Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)

Notes

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Bafna Mahaveer Chand

AACPB6411G

Chief Executive Officer

Remuneration

Approved

36.72

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Bafna Mahaveer Chand

AACPB6411G

Chief Executive Officer

Loan

Approved

150.07

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Navin Bafna

APIPB8787J

Son of Chief Executive Officer

Any other transaction

Salary For Rendering Services

Approved

0.4

26-05-2025

13.8

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Navin Bafna

APIPB8787J

Son of Chief Executive Officer

Any other transaction

Salary Advance

Approved

2.17

1.3

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Navin Bafna

APIPB8787J

Son of Chief Executive Officer

Any other transaction

Salary Advance Repayment

Approved

0.87

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Sasikala Bafna

AASPB2718E

Wife of Chief Executive Officer

Any other transaction

Rent

Approved

8.85

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Shanmugam Hemalatha

AAWPH3452M

Whole Time Director

Remuneration

Approved

10.24

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Vinayak Dinesh Dendukuri

COVPD3773C

Whole Time Director

Remuneration

Approved

16.56

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Melagiri Sridhar

BZKPS2221P

Chief Financial Officer

Remuneration

Approved

7.6

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Melagiri Sridhar

BZKPS2221P

Chief Financial Officer

Any other transaction

Salary Advance Repayment

Approved

0.5

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Mohanachandran A

DJQPM0840C

Company Secretary

Remuneration

12.5

Approved

5.51

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

P K Sundaresan

AIZPS7199D

Independent Director

Any other transaction

Sitting Fees

Approved

0.97

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Ravichandran Chitra

AAFPC1741D

Independent Director

Any other transaction

Sitting Fees

Approved

0.96

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Akila C Raju

ARNPR7975B

Non Executive Director

Any other transaction

Sitting Fees

Approved

0.91

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Upendar Mekala Reddy

AARPU5869L

Non Executive Director

Any other transaction

Sitting Fees

Approved

0.96

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Krishna Yeachuri

AALPY0491Q

Independent Director

Any other transaction

Sitting Fees

Approved

0.49

BAFNA PHARMACEUTICALS LIMITED

AAACB3109Q

Bhansilal & Co HUF

AAFFM5228F

Relative of KMP

Any other transaction

Rent

0.12

Approved

0.06

Total value of transaction during the reporting period

107.17

Details of Impact of Audit Qualification
Whether results are audited or unaudited		Audited
Declaration of unmodified opinion or statement on impact of audit qualification		Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results		Yes
	Audit firm's name	Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI	Certificate valid upto
1	Brahmayya & Co	Yes	30-04-2027

General information about company

Financial Results – Ind-AS

Text Block

Statement of Asset and Liabilities

Other Comprehensive Income

Cash flow statement, indirect

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)

Details of Impact of Audit Qualification