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Miven Machine Tools Ltd. Earnings Release 2025
63384_rns_2025-05-26_a6453599-995a-4259-944a-60989a6f0139.pdf
Earnings Release
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Date: 26th May 2025
To, The Manager BSE Limited Department of Corporate Services 1st Floor, Rotunda Building P. J. Towers, Dalal Street Mumbai – 400001, Maharashtra, India.
Dear Sir,
Sub: Outcome of 202nd Board Meeting of the Company held on 26th May 2025
Ref: Scrip Code: 522036
This is to inform you that pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) 2015, the Board of Directors of the Company at its meeting held today. i.e. Monday, the 26th day of May, 2025 held at the Registered Office of the Company situated at D. No. 2-93/8 & 9, 3rd Floor, Three Cube Towers, White Fields, Kondapur - 500084, Hyderabad, Telangana, inter alia, discussed and approved the following matters:
-
- Take note of the Internal Audit Report for the 4 th Quarter (January-March) of financial year 2024-25 ended on 31st March, 2025.
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- Annual Audited Financial statements of the Company for the financial year 2024-25 ended on 31st March, 2025, together with the Auditor's Report thereon.
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- Draft Audited Financial Results of the Company for the 4th Quarter (January-March) of financial year 2024-25 ended on 31st March, 2025 and to submit to Statutory Auditors for their report thereon.
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- Appointment of M/s A.S.R.V. Prasad & Co, Chartered Accountants, Hyderabad as internal auditor of the Company for the Financial Year 2025-26
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- Take note of appointment of Mr. Sundeep Reddy Katta as Managing Director in Karvy Data Management Services Limited.
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- Change in main object clause of the Memorandum of Association of the Company subject to shareholders' approval.
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- Postal Ballot process/ remote e-voting facility for obtaining shareholders' approval for change in the main objects of the MOA and appointment of the scrutinizer thereof.
-
- Appointment of Central Depository Services Limited (CDSL) as a facilitator for remote evoting facility in connection with the Postal Ballot for change in Object of the Company.
MIVEN MACHINE TOOLS LIMITED
Regd. Office: 3 rd Floor, D.No. 2-93/8 & 2-93/9, Three Cube Towers, White Fields, Kondapur, Hyderabad, Telangana – 500084 ,India.
Website: www.mivenmachinetools.com Email: [email protected]
-
Proposal to dispatch of physical Postal Ballot notices and forms by the RTA, BgSE Financials Limited, in connection with the proposed alteration of the object clause of the memorandum of association of the Company.
-
Take note of the Related Party transactions for the quarter ended 31st March 2025.
The meeting started at 12:00 Noon (IST) and concluded at 01:05 PM (IST)
We request you to kindly take note of the same in your records
This is for your information and records.
Kindly acknowledge the receipt.
Thanking you,
For Miven Machine Tools Limited
KHUSH BOO JAIN Digitally signed by KHUSHBOO JAIN Date: 2025.05.26 13:21:36 +05'30'
Khushboo Jain Company Secretary & Compliance Officer Membership No. 65899
MIVEN MACHINE TOOLS LIMITED
Regd. Office: 3 rd Floor, D.No. 2-93/8 & 2-93/9, Three Cube Towers, White Fields, Kondapur, Hyderabad, Telangana – 500084 ,India.
CIN: L29220TS1985PLC197616 GSTIN: 36AAECM4671J1Z7 Contact: +91 9448285831
Website: www.mivenmachinetools.com Email: [email protected]
V. RAO & G CHARTERED ACCOUNTANTS
$F.No. : 001, # 3-5-595.$ Gharonda Paul Apts., 7th Street, Narayanaguda, Near Telugu Academy, Hyderabad - 500 029, T.S. Ph.: 040-23228444 Mobile: 80089 28444, 90329 28444 E-mail: [email protected]
Independent Auditor's Report on Quarterly and Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015
To, THE BOARD OF DIRECTORS. MIVEN MACHINE TOOLS LIMITED.
We have audited the accompanying quarterly and annual statement of Standalone Financial Results of MIVEN MACHINE TOOLS LIMITED ("the Company"), for the Quarter and year ended on 31st March, 2025 ("the Statement") being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015 as amended from time to time ("the Listing Regulations").
Qualified Opinion
Based on our audit and to the best of our information and according to the explanations given to us, except for the matter described in the Basis for Qualified Opinion paragraph, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Basis for Qualified Opinion
Based on the information provided to us by the management and as stated in Note 4(a) to Standalone Audited financial results, the company has not
2nd Floor, Plot No. 4, Near Pulses, Durgam Cheruvu Road, Madhapur, Hyderabad-500 081. D. No.: 26-10-1, 2nd Floor, Darga Road, Nagarampalem, Guntur - 522 004, A.P. Tel.: 0863-2225921 Gannavaram, Vijayawada - 520 002, A.P., Ph. : 9394343434, 9676934343
provided for interest expenditure on Inter Company Loans. This information indicates that if interest expenditure was provided for as at 31stMarch, 2025 the finance cost and other financial liabilities would have increased by INR 2.81 Lakhs for the Quarter ended as on that date and total comprehensive income and other equity for the said periods would have reduced by INR 2.81 Lakhs.
Material Uncertainty relating to Going Concern
The audited financial results of the company indicate that the company is incurring losses and on the reporting period total outside liabilities which amounts to INR 565.59 Lakhs exceeds the total assets which amounts to INR 13.38 Lakhs which results in erosion of complete Net Worth of the company. Further, the company has no tangible Plant, Property and Equipment and has no inventory as on the reporting date. We draw reference to Note 5 of audited financial results of the company regarding company's plan for continuing its business. As stated therein these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Emphasis of Matter
We draw attention to Note 4(b) to the accompanying Standalone Financial Results about write back of certain liabilities owed by the company.
Our opinion is not modified in respect of above matters.
Other Matter
• We have not audited or reviewed the comparative financial information appearing in the statement of the corresponding quarter ending on 31stMarch, 2024 and year to date financial results for the period 01st
April 2023 to 31stMarch 2024. The comparative financial information appearing in the statement of the corresponding quarter ending on 31stMarch, 2024 and year to date financial results for the period 01stApril 2023 to 31stMarch 2024 were audited by the previous auditor.
The financial results includes the financial results for the quarter ended 31st March of respective financial years, being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year-to-date figures up to the third quarter of the relevant financial year, which were subjected to limited review by us and not subjected to any audit. Our report on the Statement is not modified in respect of this matter.
Responsibilities of Management and Those Charged with Governance for the Financial Results.
These statement have been prepared on the basis of annual financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit or loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring
the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Results Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing, specified under Section 143(10) of the Act, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.
As part of an audit in accordance with the Standards on Auditing, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
- Evaluate the appropriateness of accounting policies used and the $\bullet$ reasonableness of accounting estimates and related disclosures made by the Board of Directors.
- Conclude on the appropriateness of the Board of Directors' use of the $\bullet$ going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit
findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Enclosures:
Copy of audited Quarterly and Year to Date Financial Results.
For V.RAO & GOPI Chartered Accountants Firm Reg.No:003153S
Date: 26.05.2025 Place: Hyderabad UDIN: 25026990BMISLE8285 CA. P. Hanumantha Rao Partner M No: 026990
| MI A TV MUCHEL LOOPS FIMILED REGISTERED OFFICE: 3RD FLOOR, THREE CUBE TOWERS, WHITEFIELDS, KONDAPUR, HYDERABAD, TELANGANA-500084 |
||||||
|---|---|---|---|---|---|---|
| CIN: L29220TS1985PLC197616 E-mail: kiran [email protected] / [email protected] Website : www.mivenmachinetools.com |
||||||
| AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31st, 2025 | ||||||
| SI No. $\ddot{\cdot}$ |
Particulars | OUARTER ENDED | (Rs. in lakhs) YEAR ENDED |
|||
| $\approx$ | 经公安部分 Gerting |
31-03-2025 | 31-12-2024 | 31-03-2024 | 31-03-2025 | 31-03-2024 |
| $12 - 2$ Income form operations |
Audited | (Unaudited) | IAudited | (Audited) | (Audited) | |
| $\mathbf{I}$ | Revenue from Operations | |||||
| $\mathbf{I}$ | Other Income | 2.76 | 3.67 | 21.84 4.66 |
143.67 | |
| III | Total Revenue (I + II) | 2.76 | 3.67 | 26.50 | 11.55 11.55 |
13.93 157.60 |
| IV | Expenses | |||||
| a) Cost of materials consumed | 0.39 | 138.55 | ||||
| b) Changes in inventories of finished goods, work-in-progress and stock-in- | ||||||
| trade | 3.58 | ÷ | 59,20 | |||
| c) Employees benefits expense | 5.40 | 7.55 | 3.99 | 22.53 | 11.42 | |
| d) Finance costs | 0.19 | ÷ | 5.88 | |||
| e) Depreciation and amortization expense | 0.30 | 1.35 | ||||
| f) Operating Expense | 13.19 | 10.63 | 57.21 | 50.33 | 90.07 | |
| Total expenses (a to f) | 18.59 | 18.18 | 65.66 | 72.86 | 306.47 | |
| V | Profit / (loss) before exceptional items and tax (III-IV) | $-15.83$ | $-14.51$ | $-39.16$ | $-61.31$ | $-148.87$ |
| VI VII |
Exceptional Items (net of tax expense) | 121.00 | 121.00 | |||
| VIII | Profit / (loss) before tax (V+VI) Tax Expense |
$-15.83$ | $-14.51$ | 81.84 | $-61.31$ | $-27.87$ |
| a. Current Tax | ||||||
| b. Deferred tax | $\sim$ | |||||
| IX | Profit / (loss) after tax from continuing operations (VII-VIII) | $-15.83$ | $-14.51$ | 81.84 | $-61.31$ | $-27.87$ |
| X | Other comprehensive Income: (OCI) | |||||
| I) Items that will not be reclassified to profit or loss | ||||||
| a) Remeasurements of the defined benefit plans | ||||||
| b) Taxes on above | ||||||
| II) Items that may be reclassified to profit or loss | ||||||
| al Marck to Market of Investments | ||||||
| b) Taxes on above | ٠ | ×. | × | u. | ||
| Total other comprehensive income | ٠ | $\blacksquare$ | ٠ | ×. | ||
| XI | Total Comprehensive Income for the period (IX+X) | $-15.83$ | $-14.51$ | 81.84 | $-61.31$ | $-27.87$ |
| XII | Paid-up Equity Share Capital (face alue of Rs.10 each) | 300.35 | 300.35 | 300.35 | 300.35 | 300.35 |
| XIII | Other Equity (excluding revaluation reserve Rs.NIL) as at Balance Sheet Date | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | ÷ | ||
| XIV | Earnings per equity Share: Basic and Diluted EPS (Rs) before and after exceptional items (not annualized) |
$-0.53$ | $-0.48$ | 2.72 | $-2.04$ | $-0.93$ |
METTER BEACHTER MOOR A FREEMS
MIVEN MACHINE TOOLS LIMITED
Regd. Office: 3rd Floor, D.No. 2-93/8 & 2-93/9, Three Cube Towers, White Fields, Kondapur, Hyderabad, Telangana - 500084, India.
Website: www.mivenmachinetools.com CIN: L29220TS1985PLC197616
GSTIN: 36AAECM4671J1Z7
Email: [email protected] Contact: +91 9448285831
Statement of Assets and Liabilities
| (Rs. in lakhs) | ||
|---|---|---|
| 18 恒定 Particulars $18.8 - 18.8$ |
Figures as at the end of the current year ended 31st March, |
Figures as at the end of the previous year ended 31st March, 2024 - |
| ASSETS | 2025 | |
| (1)Non-current assets | ||
| (a) Property, Plant and Equipment | ||
| (b) Capital work-in-progress | ||
| (c) Investment Property | ||
| (d) Goodwill | ||
| (e) Other Intangible assets | ||
| (f) Intangible assets under evelopment | ||
| (g) Biological Assets other than bearer plants | ||
| (h) Financial Assets | ||
| (i) Investments | 0.50 | 0.50 |
| (ii) Trade receivables | ||
| (iii) Loans | ||
| (iv) Others (Refund of Tax due from Government) | ||
| (i) Deferred tax assets (net) | ||
| (j) Other non-current assets | 0.56 | |
| (2)Current assets | ||
| (a) Inventories | ٠ | |
| (b) Financial Assets | ||
| (i) Investments | ٠ | |
| (ii) Trade receivables | 6.83 | 6.85 |
| (iii) Cash and cash equivalents | 0.04 | 0.02 |
| (iv) Bank balances other than (iii) above | 1.49 | 3.36 |
| (v) Loans | ||
| (vi) Others (Security Deposits) (c) Current Tax Assets (Net) |
||
| (d) Other current assets | 4.98 | |
| Total Assets | 13.84 | 11.29 |
| EQUITY AND LIABILITIES | ||
| A.Equity | ||
| (a) Equity Share capital | 300.35 | 300.35 |
| (b) Other Equity | $-852.10$ | $-790.79$ |
| B.LIABILITIES | ||
| (1)Non-current liabilities | ||
| (a) Financial Liabilities | ||
| (i) Borrowings | 298.60 | 224.95 |
| (ii) Trade payables | ||
| (iii) Other financial liabilities (other than those specified in item (b), to be specified) | ||
| (b) Provisions | ||
| (c) Deferred tax liabilities (Net) | ||
| (d) Other non-current liabilities (2) Current liabilities |
||
| (a) Financial Liabilities | ||
| (i) Borrowings | ||
| (ii) Trade payables | 1.97 | |
| (a) Total Outstanding dues of Micro and Small Enterprises | ||
| (b) Total Outstanding dues other than Micro and Small Enterprises | 0.06 | |
| (iii) Other financial liabilities (other than those specified in item (c) | 129.22 | 129.86 |
| (b) Other current liabilities | 124.44 | 124.44 |
| (c) Provisions | 5.67 | 20.51 |
| (d) Current Tax Liabilities (Net) | 7.59 | |
MIVEN MACHINE TOOLS LIMITED
Regd. Office: 3rd Floor, D.No. 2-93/8 & 2-93/9, Three Cube Towers, White Fields, Kondapur, Hyderabad, Telangana - 500084, India.
Website: www.mivenmachinetools.com CIN: L29220TS1985PLC197616
GSTIN: 36AAECM4671J1Z7
Email: [email protected] Contact: +91 9448285831
'UΕ
| E-mail: [email protected] / [email protected] Website : www.mivenmachinetools.com | ||||||
|---|---|---|---|---|---|---|
| Statement of Cash Flows for the year ended 31st March, 2025 | Rs. in lakhs | |||||
| Particulars | As at 31st March, 2025 | As at 31st March, 2024 | ||||
| A. CASH FLOW FROM OPERATING ACTIVITIES | ||||||
| Profit (Loss) before tax as per Profit and Loss Account | (61.31) | (27.87) | ||||
| Adjustments for: | ||||||
| Depreciation and Amortisation Expenses | 1.35 | |||||
| Finance Costs | 5.88 | |||||
| Interest received | 1.15 | |||||
| Dividend Received | ||||||
| Provisions | (8.40) | |||||
| Profit on Sale of Assets CASH FLOW BEFORE WORKING CAPITAL CHANGES |
0.44 | |||||
| (61.31) | (27.45) | |||||
| Adjustments for Working Capital Changes Change in Inventories |
||||||
| Change in Trade Receivables | 130.78 | |||||
| Change in Other Financial Assets - Non Current Assets | 0.02 | (3.07) | ||||
| Change in Other Financial Assets - Short Term | 0.56 | 17.06 0.17 |
||||
| Change in Other Current Assets | (4.98) | 28.40 | ||||
| Change in Other Financial Liabilities - Non Current Liabilities | $\blacksquare$ | |||||
| Change in Trade Payables | (0.57) | (13.29) | ||||
| Change in Other current Liabilities | (7.25) | (155.84) | ||||
| Change in Other Financial Liabilities- Current Liabilities | 4.08 | |||||
| Change in Other Provisions | ||||||
| Cash Flow (Used) in Operating Activities | (73.53) | (19.16) | ||||
| B. CASH FLOW FROM INVESTING ACTIVITIES | ||||||
| Sale Proceeds of Assets | ||||||
| Interest received | 2.07 | |||||
| Dividend Received | (1.15) | |||||
| Proceed from Maturity of Deposit with Banks held as Margin Money with maturity of | 20.37 | |||||
| Cash Flow from Investing Activities | ٠ | 21.29 | ||||
| C. CASH FLOW FROM FINANCING ACTIVITIES | ||||||
| Proceeds/ (Payment) from/to Long Term Borrowings | 71.68 | 2.97 | ||||
| Interest Paid | (5.88) | |||||
| Changes in Fair Values of Long Term Borrowings Cash Flow (Used) in Financing Activities |
||||||
| 71.68 | (2.91) | |||||
| Net Increase / (Decrease) in Cash and Cash Equivalents | ||||||
| Cash and Cash Equivalents at the beginning of the year | (1.85) 3.38 |
(0.78) 4.16 |
||||
| Cash and Cash Equivalents at the end of the Year | 1.53 | 3.38 | ||||
| Add: | ||||||
| Fixed deposits with original maturity of more than 90 days | ||||||
| Cash and cash equivalents at end of period as per Financial Statements | 1.53 | 3.38 | ||||
| Cash and Cash Equivalents Comprise : | ||||||
| Cash on Hand | 0.04 | 0.020 | ||||
| Balance with Banks | ||||||
| On Current Accounts | 1.49 | 3.36 | ||||
| On Fixed Deposits | ||||||
| Cash and Cash Equivalents as per Financial Statements | 1.53 | 3.38 |
$\frac{1}{2}$
M n.
MIVEN MACHINE TOOLS LIMITED
Regd. Office: 3rd Floor, D.No. 2-93/8 & 2-93/9, Three Cube Towers, White Fields, Kondapur, Hyderabad, Telangana - 500084, India.
Website: www.mivenmachinetools.com
GSTIN: 36AAECM4671J1Z7
Email: [email protected] Contact: +91 9448285831
CIN: L29220TS1985PLC197616
MIVEN MACHINE TOOLS LIMITED
Regd. Office: 3rd Floor, D.No. 2-93/8 & 2-93/9, Three Cube Towers, White Fields, Kondapur, Hyderabad, Telangana - 500084, India.
Website: www.mivenmachinetools.com CIN: L29220TS1985PLC197616
GSTIN: 36AAECM4671J1Z7
Email: [email protected] Contact: +91 9448285831
Ш
Date: 26-05-2025
$To$ Department of Corporate Services BSE Limited PI Towers Dalal Street, Mumbai - 400001 Scrip Code: 522036
Sub: Declaration on Auditors' Report with Qualified Opinion under Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir / Madam,
I, Mr. Katta Sundeep Reddy, Chairman & Managing Director of Miven Machine Tools Limited (CIN: L29220TS1985PLC197616), hereby declare that, in terms of the provisions of the above said regulations as amended by SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016, vide notification No. SEBI/LAD-NRO/GN/201 6-17/001 dated May 25, 2016 and Circular No. CIF/CFD/CMD/56/2016 dated May 27, 2016 the Statutory Auditors of the Company, M/s. V. Rao & Gopi Chartered Accountants, Reg. No. 003153S have issued an Audit Report with Qualified Opinion on Audited Financial Results of the Company (Standalone) for the quarter and year ended on 31st March, 2025.
We request you to kindly take this declaration on your records.
For Miven Machine Tools Limited
Klundeep Reddy
Signature:
Name: K. Sundeep Reddy Designation: Managing Director DIN: 06458901
MIVEN MACHINE TOOLS LIMITED
Regd. Office: 3rd Floor, D.No. 2-93/8 & 2-93/9, Three Cube Towers, White Fields, Kondapur, Hyderabad, Telangana - 500084, India.
Website: www.mivenmachinetools.com CIN: L29220TS1985PLC197616
GSTIN: 36AAECM4671J1Z7
Email: [email protected] Contact: +91 9448285831
A.S.R.V. PRASAD & CO CHARTERED ACC0UNTANTS
Dt: 22-05-2025
To, The Managing Director, M/s. Miven Machine Tools Limited, 3° Floor, Threecube Towers, White Fields, Kondapur, Hyderbad - 500084 Telangana.
Dear Sir,
Sub: Submission of Internal Audit Report for the Period 01-01-2025 to 31-03-2025 Reg.
With reference to the above, we have conducted the internal audit for the period 01-01-2025 to 31-03-2025 of the Financial Year 2024-25. The detailed report is enclosed in this regard.
We assure you best of our services at all times.
Thanking you sir, For A.S.R.V. Prasad & Co., Chartered Accountants
(CA K.Satya Krishna) Partner M. No. 225181
UDIN No: 25225181BMIEQY4118
Encl: Q4 Report
: D.No. 7-2-1735& 1813/5/A/10/712, Plot No. 7, 2nd Floor, Street No.1, Czech Colony. Sanath Nagar, Hyderabad -500018.
INTERNAL AUDIT REPORT
For Miven Machine Tools Limited
Date: 22-05-2025
Place: Hyderabad
Opening balances:
There are no differences in opening balances as compared to audited financial statements as on 31.03.2024.
GST Returns:
Hyderabad GST Reg..
The GSTReturns of Hyderabad branch have been filed within due date for the months of Quarter 04. The following are the date of filings of returns:
| Month | GSTR-1 Filing date | GSTR-3B Filing date |
|---|---|---|
| January | 10-02-2025 | 20-02-2025 |
| February | 11-03-2025 | 19-03-2025 |
| March | 11-04-2025 | 19-04-2025 |
Hubli GST Reg.,
The GST Returns of Hublibranches have been filed within due date for the months of Quarter 03. The following are the date of filings of returns:
| Month | GSTR-1 Filing date | GSTR-3B Filing date |
|---|---|---|
| January | 10-02-2025 | 20-02-2025 |
| February | 11-03-2025 | 19-03-2025 |
| March | 11-04-2025 | 19-04-2025 |
The GST Input credit onbills/ invoices from vendors in the month of January, February & March has been shown as Input in GSTR 2A. The bills are mistakenly filed on our GST by the vendor and the same has been informed to themand GST Input was not claimed by our company. Drasa
<FRNAOgas Hydefzbad ered CCountang
| S.NO DATE INVOICE |
OF PARTY |
TAXABLE VALUE |
IGST | CGST | SGST | INVOICE VALUE |
|
|---|---|---|---|---|---|---|---|
| 1 | 04/01/2025 | BHARAT SANCHAR NIGAM LIMITED |
2499.00 | 224.91 | 224.91 | 2948.82 | |
| 2 | 03/02/2025 | BHARAT SANCHAR NIGAM LIMITED |
2499.00 | 0 | 224.91 | 224.91 | 2948.82 |
| 03/03/2025 | BHARAT SANCHAR NIGAM LIMITED |
2499.00 | 224.91 | 224.91 | 2948.82 | ||
| 4 | 28/03/2025 | BSE LIMITED | 3250.00 | 585.00 | 0 | 0 | 3835.00 |
GST Input to be received:
GST Input for the following bills/invoices have been recorded in the Books of Accounts as services are availed and payments are made by the company and corresponding GST returns have not been filed by the vendors and there will be difference between GST portal and Books of accounts to the extent of invoices details below.
| S.No. | DATE OF THE INVOICE |
PARTY | TAXABLE IGST VALUE |
CGST | SGST | INVOICE VALUE |
|
|---|---|---|---|---|---|---|---|
| 1 | 18/01/2025 | SATYAM PACKERS AND MOVERS |
70700.00 | 8484.00 | 0 | 79184.00 | |
| 2 | 12/02/2025 | MK ASSOCIATES |
15240.00 | 1059.00 | 0 | 0 | 16299.00 |
| 3 | 01/04/2024 | NSDL | 9000.00 | 1620.00 | 10620.00 |
GST Payments:
Payment vouchers:
Payment Vouchers have been verified and found correct.
Receipts vouchers:
No receipts have been received in this quarter.
Sales:
No sales have been made for this quarter and Nil GSTR-1 returns has been fited for the months of January, February & March for 2 GST registrations. asa
Purchases:
No purchases have been made for this quarter.
Bank Reconciliation:
Company is operating 3 bank accounts and Bank Reconciliations for all bank accounts have been verified and closing balances as on 31.03.2025 are matched with balances in books of accounts.
TDS and TCS Payments:
TDS Returns for Q4 (form 24q & 26g) of FY 2024-25 has been filed on 13.05.2025.
ESI and PF Payments:
There is no ESI and PF payments for this quarter as there are no eligible employees working under Miven Machine Tools Limited. Nil returns for ESI and EPF for the state of Karnataka filed and registrations to be transferred to Telangana as operations are closed in Karnataka.
Provision for Gratuity outstanding:
The amount of Rs. 7,59,085 /- as provision for gratuity is outstanding in the books of accounts as there are no employees working in the company with more than 5 years of service, the provision needs to be reversed after necessary approvals from the management.
Amount as per financials as on 31.03.2024- Rs.2,47,035/
As informed to us, the stock mentioned in this ledger has already been consumed and payment has been made to the creditors but still the amount is shown as payable in the last financial year 2023-24. No payments were made against these out standings during this quarter.
Necessary confirmations have been obtained from creditors along with ledger confirmations with no outstanding balances and the balances pending in books of accounts is written off after necessary approvals from the management.
| S. No. | NAME OF THE PARTY | AMOUNT |
|---|---|---|
| ANUSHREE TUBE PRODUCTS | 3798.60 | |
| 2 | SPHOORTI MACHINE TOOLS PVT.LTD | 146214.90 |
| 3 | M/S.VENKATESH & COMPANY | 1094.00 |
| 4 | PRAJAY ELECTROTECH | 93157.5 |
| 5 | SHREE MARKETING | 2770.00 |
| TOTAL | 247035.00 |
Unsecured loans:
No loan has been repaid in this quarter as there are no commercial operations in this quarter.
Inter Corporate Borrowings:
The amount outstanding in Inter corporate borrowings from MivenMayfran Conveyors Private LimitedRs. 2,24,95,128/-which is taken in the year 2013 has not yet been paid and the interest accumulated on this amount of Rs. 1,24,43,765.8/- has not yet been paid in this quarter.
Balances are in confirmation with the ledger confirmation letters issued by the MivenMayfran Conveyors Private Limited.
Debtors
Age wise analysis of Debtors as on 31.03.2025 is given as follows
| Age wise analysis of debtors | ||||
|---|---|---|---|---|
| No. of days | Amount in lakhs) | |||
| 0-30 days | Nil | |||
| 31-60 days | Nil | |||
| 61-90 days | Nil | |||
| 91-180 days | Nil | |||
| 181-365 days | Nil | |||
| Above 365 days | 6.82 | |||
| TOTAL | 6.82 |
This report merely addresses the deficiencies in the internal controls pertaining to the operations of M/s. Miven Machine Tools Limited. M/s. A.S.R.V.Prasad& Co does not assume any responsibility for the non discovery of any frauds or misappropriations. This report is meant for internal use and should not be reproduced in any manner.
- End of report -
