Walchandnagar Industries Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Sep 2024

1. The above financial results have been prepared in accordance with Indian Accounting Standard as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules, 2015 and the Companies (Indian Accounting Standard) Amendment Rules, 2021.
2. The above Financial Results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors at its meeting held on November 14, 2024.
3. The company is engaged in segments namely Heavy Engineering, Foundry, Machine shop and Others. These segments have been reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker.
4. During the quarter ended on 30th September, 2024, the Company has repaid the entire outstanding debt of Rs. 2091 Lakhs to Assets Care and Reconstruction Enterprise Limited (ACREs). As per the terms of the restructuring Agreement executed with ACREs on 18th May 2023, a contingent liability of Rs. 13714 Lakhs was disclosed in the financial statements for the year ended on March 31, 2024 which has now become nil, because of the Company has repaid the entire outstanding debt to ACREs as per the terms of the Restructuring agreement dated 18th May, 2023 executed with ACREs. Further the Company has written back Rs. 412 Lakhs of other current financials liabilities related to restructuring agreement which has been disclosed in the quarterly results for the quarter ended on 30th September, 2024 under “Exceptional Item”.
5. During the Quarter the Company has recognized expense of Rs. 62 lakhs (Rs. 20 lakhs for the Q-2 F.Y. 2023-24) under "Employees Benefits Expenses" and alloted 19677 numbers of Equity Shares under the ESOP Scheme 2020.
6. Figures for the previous periods have been regrouped/reclassified where necessary, to confirm to the current period classification.