Avax Apparels and Ornaments Ltd — Results, 27-05-2025: Integrated Filing

AVAX APPARELS AND ORNAMENTS LIMITED

(formerly known as Avax Soft Technologies Limited)

Regd. Office: 611, 6th Floor, Jaina Tower II, Distt Center,

Janak Puri, New Delhi 110058,

CIN: L14101DL2005PLC137127; Website: www.avaxapparels.com

E-mail: Info@avaxapparels.com; Mobile: 9599497767

BSE - INTERNAL

27th May 2025

To,

The Department of Corporate Services,

BSE Limited,

20th Floor, P.J.Towers,

Dalal Street,

Mumbai – 400 001.

Scrip Code: 544337 | Scrip Symbol: AVAX | ISIN: INE0NQ401016

Sub: Integrated Filing (Financial) for the Half Year and Year ended 31st March, 2025 of

Avax Apparels and Ornaments Limited (“the company”)

Dear Sir/ Ma’am,

Pursuant to the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated 31st

December, 2024, read with BSE Circular No. 20250102-4 dated 2nd January, 2025, please

find enclosed herewith the Integrated Filing (Financial) for the Half Year and Year ended 31st

March, 2025 of Avax Apparels and Ornaments Limited (“the company”) as follows:

A. The Standalone Audited Financial result for the Half Year and Year ended 31st March,

2025 and Independent Auditors Report thereon.

B. Statement on deviation or variation for proceeds of public issue, rights issue,

preferential issue, qualified institutions placement etc.

C. Format for disclosing outstanding default on loans and debt securities-Not Applicable,

No Outstanding Default as on 31st March, 2025

D. Format for disclosure of related party transactions- Not Applicable, as on 31st

March, 2025

E. Statement on impact of audit qualifications (for audit report with modified opinion)

Not Applicable, as on 31st March, 2025.

Kindly consider this and take the same on record.

Thanking you,

Yours faithfully,

For and on behalf of the Board of Directors

M/s Avax Apparels And Ornaments Limited

Shruti Jain

(Company Secretary and Compliance Officer)

M. No.: A52018

Enclosed: As mentioned above.

----------------Page (0) Break----------------

NKSC & Co.

Chartered Accountants

Unit no. 9, Third Floor, Pearls Omaxe Tower,

Netaji Subhash Palace, Pitampura, Delhi – 110034

www.nksc.in

info@nksc.in

011 – 4566 0694

Independent Auditor’s Report on Standalone Annual Financial Results of the Company

Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Avax Apparels and Ornaments Limited

Opinion

1. We have audited the accompanying annual financial results (‘the Statement’) of Avax Apparels

and Ornaments Limited (‘the Company’) for the year ended 31 March 2025, attached herewith,

being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI

(Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (‘Listing

Regulations’).

2. In our opinion and to the best of our information and according to the explanations given to us,

the Statement:

(i) presents financial results in accordance with the requirements of Regulation 33 of the Listing

Regulations, and

(ii) gives a true and fair view in conformity with the recognition and measurement principles laid

down in the applicable Indian Accounting Standards (‘Ind AS’) specified under section 133 of

the Companies Act, 2013 (‘the Act’), read with the Companies (Indian Accounting Standards)

Rules, 2015, and other accounting principles generally accepted in India, of the net profit after

tax and other comprehensive income and other financial information of the Company for the

year ended 31 March 2025.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on Auditing specified under section

143(10) of the Act. Our responsibilities under those standards are further described in the Auditor’s

Responsibilities for the Audit of the Statement section of our report. We are independent of the

Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants

of India (‘the ICAI’) together with the ethical requirements that are relevant to our audit of the

financial results under the provisions of the Act and the rules thereunder, and we have fulfilled

our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We

believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for

our opinion.

----------------Page (1) Break----------------

NKSC & Co.

Chartered Accountants

Unit no. 9, Third Floor, Pearls Omaxe Tower,

Netaji Subhash Palace, Pitampura, Delhi – 110034

www.nksc.in

info@nksc.in

011 – 4566 0694

Responsibilities of Management and Those Charged with Governance for the Statement

4. This Statement has been prepared on the basis of the standalone annual financial statements and

has been approved by the Company's Board of Directors. The Company’s Board of Directors is

responsible for the preparation and presentation of the Statement that gives a true and fair view

of the net profit/loss and other comprehensive income and other financial information of the

Company in accordance with the Ind AS specified under section 133 of the Act, read with the

Companies (Indian Accounting Standards) Rules, 2015 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 Statement that gives a true and fair view and is free from

material misstatement, whether due to fraud or error.

5. In preparing the Statement, the Board of Directors is 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.

6. The Board of Directors is also responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Statement

7. 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.

8. As part of an audit in accordance with the Standards on Auditing, specified under section 143(10)

of the Act, we exercise professional judgment and maintain professional skepticism throughout

the audit. We also:

 Identify and assess the risks of material misstatement of the Statement, 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

----------------Page (2) Break----------------

NKSC & Co.

Chartered Accountants

Unit no. 9, Third Floor, Pearls Omaxe Tower,

Netaji Subhash Palace, Pitampura, Delhi – 110034

www.nksc.in

info@nksc.in

011 – 4566 0694

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. Under section 143(3) (i) of the Act, we

are also responsible for expressing our opinion on whether the Company has in place an

adequate internal financial control with reference to financial statements and the operating

effectiveness of such controls;

 Evaluate the appropriateness of accounting policies used and the 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 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 Statement 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; and

 Evaluate the overall presentation, structure and content of the Statement, including the

disclosures, and whether the Statement represents the underlying transactions and events in

a manner that achieves fair presentation.

9. 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.

10. 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.

----------------Page (3) Break----------------

NKSC & Co.

Chartered Accountants

Unit no. 9, Third Floor, Pearls Omaxe Tower,

Netaji Subhash Palace, Pitampura, Delhi – 110034

www.nksc.in

info@nksc.in

011 – 4566 0694

Other Matter

11. a) The Statement includes the results for the half year ended March 31, 2025, being the balancing

figure between audited figures in respect of full financial year and the published unaudited year

to date figures up to the half year of the current financial year which were subject to limited review

by us.

b) The financial statements of the Company for the year ended March 31, 2024 were audited by

another firm of Chartered Accountants who vide their report date June 28, 2024, expressed an

unmodified opinion on those statements.

For NKSC & Co.

Chartered Accountants

ICAI Firm Registration No.: 020076N

____________________

Priyank Goyal

Partner

Membership No.: 521986

UDIN No. 25521986BMNYPX7615

Place: New Delhi

Date: May 23, 2025

----------------Page (4) Break----------------

Avax Apparels and Ormaments Limited

CIN No:- L14101DL2005PLC137127 Registered and Corporate Office: 611 6TH FLOOR JAINA TOWER Il DISTT CENTRE JANAK PURI, Delhi, In

STATEMENT OF AUDITED ASSETS AND LIABILITIES AS AT MARCH 31, 2025

(Re.in lacs, except per share data) Aeat Aeat

Particulars March 31, 2025 March 31, 2024

Audited Audited” asseTs

Non-current assets Property,plant and equipment 6227 [

ntangible assets 045 029 Finandialassets

© Other financal sssets 022 022 Deferred tax assets (net) 338 053

Total non-current assets 8632 9567

Current sssets nventories 3658 wase

Financalassets 0 Trade receivables 67530 30636

) Cash and cash equivalents T678 2558 Other current assts 384 7216

Total current assets 74250 38894

Total sssets 7881 o)

EQUITY AND LIABILITIES Equity

Eauity share capital 0352 652 Other equity 557,03 23817

Equity attributable to the owners of the Parent 660.95 31469

Current liabiitier Finandial Tabiltes

0 Borrowings G635 7150 ) Trade payables

~total outstanding dues of miro and small enterprises; and - B total outstanding dues of creditors fher than micro and small nferprises a5t 3510

) Other financil labilties 1189 = Other current labilties Ts7 255

Current tax abilties (net) 4655 677

Total current labilities 26787 6592

Total equity and Fabilties 92882 aa

By the order of t#} Board! wis Afl:, and ;v mited

Harirderpal Singh Sodhi

Managing Director DIN-09283654

----------------Page (5) Break----------------

Avax Apparels and Ornaments Limited

CIN No:- L14101D12005PLC137127

Registered and Corporate Office: 611 6TH FLOOR JAINA TOWER Il DISTT CENTRE JANAK PUR, Delhi, India, 110058

STATEMENT OF AUDITED FINANCIALS RESULTS FOR THE YEAR ENDED MARCH 31, 2025

(Rs.n lacs, except per share data)

Pay For the half year ended Year ended

Unaudited Unau Audited

March 31,2025 | September 30,2024 | _March 31,2025 March 31, 2024

1_[income from operations

Revenue from operations 193493 150093 343586 2.205.98

[Other income 978 - 978 - Total income 1.944.71 1.500.93 344564 2,205.98

2 |Expenses

Cost of material consumed 895 12595 134.90) -

Purchases of stock-in-trade 156492 133875 2,903.67) 1,923.50]

[Changes in inventories 18091 (172.95)] 7.96] 17.17]

Employee benefit expense 3237 3556 67.93 37.0§

Finance costs 1056] 482 15.38) 6565 Depreciation and amortization expense 1787 1443 3235 933

Other expenses 27, 2842 55.42) 18.15]

Total expenses 1,842.58 1,375.03 3.217.61 2,011.88

3 |Profit before exceptional & extraordinary items and tax 10213 125.50 228.03 19410

Exceptional item 5 = 3 5

4_|Profit before extraordinary items and tax 10213 125.90 22803 194.10

Extraordinary items 3 5 % N

5_|Profit before tax 10213 125.90 22803 194.10

6| Tax expense:

Current tax 3039 3731 67.70 56.18

Deferred tax expense / (benefit) ©82) @03) @85) ©28)

[ Total tax expense 29.57 35.28 64.85 55.90 7_|Profit after tax 7256 9062 16318 13820

8_|Other comprehensive Income Items that will not be reclassified to profit - - - -

- Remeasurement of defined benefit plans - - - -

- Income tax relating to these items

9_|Profit for the period/year 72.56 90.62 16318 138.20

10_|Earnings per equity share”

Basic 879 1184 1977 1806

-Diluted 879 1184 1977 18.06

* Earnings per share for the half year ended have not been annualised

By the order pf the Bpard

M/]vix r-l\xjnd mu.fiu

Ha derpal Singh Sodhi

Managing Director

DIN-09283654

----------------Page (6) Break----------------

Avax Apparels and Ornaments Limited CIN No:- L14101DL2005PLC137127

Registered and Corporate Office: 611 6TH FLOOR JAINA TOWER I DISTT CENTRE JANAK PURI, Delhi, India, 110058

AUDITED STATEMENT OF CASH FLOW FOR THE YEAR ENDED MARCH 31, 2025

(Rs.in lacs, except per share data)

R For the year ended

March 31,2025 March 31,2024 Audited Audited

Cash flow from Operating Activities Net Profit before tax from :

Continuing operations 22803 19410 Discontinued operations - -

Profit before income tax including discontinued operation 22803 9410

Adjustment for: Depreciation and amortisation expense 3235 935

Finance costs 1018 270 Operating profit before working capital changes 270.58 206,15

Movements in working capital Inventories 796 1717

Trade receivables 369.03) (95.33) Other financial assets - 0719

Other current assets (159) 190) Other non current asset - 1098

Trade payables 10241 (105.66) (Other financial 189 3

Other non-finandial labilties ©97) 221 Cash flow generated from operations BEH 3447

Less: Income tax paid (net of refunds) 7193 @a77) Net Cash flow generated/(used in) from Operating Activities (Al (56.80) - m

Cash flow from Investing Activities Proceeds from/(payments for) PPE and intangible assets 020.15) ©652)

Net Cash used in Investing Activities (8) (120.15) (86.52)]

Cash Flow from Financing Activities Payment to/Proceeds from borrowings (515) 750 .

Issue of equity shares 1868 - Finance costs (10.18) @70

Security premium of equity shares 16440 2 [Bonus shares issued % E

Net Cash generated from Financing Activities (C) 167.75 68.80

Net decrease in Cash and Cash Equivalents (A+B+C) 920 .02)

Cash and cash equivalents at the beginning of the period/year 2598 3400 Balance at the end of the period 1678 2538

Components of cash and cash equivalents Balances with banks

- on current account 1632 231 |Cash on hand 046 367

[Cash and bank balances at end of the year 1678 2598

By the order of th Board M/s Ayayf Apparelf and s\ mited

Harinflerpal Singh Sodhi Managing Director

DIN-09283654

----------------Page (7) Break----------------

Avax Apparels and Ormaments Limited

CIN No:- L14101DL200SPLCT37127

Registered and Corporate Office: 611 6TH FLOOR JAINA TOWER If DISTT CENTRE JANAK PURI, Delhi, India, 110058

AUDITED FINANCIAL RESULTS FOR THE HALF YEARLY AND YEAR ENDED MARCH 31, 2025

SEGMENT REVENUE, RESULT, ASSETS AND LIABILITIES.

(Rs.in lacs, except per share data) For the half year ended Year ended

Particulars Unaudited Unaudited Audited

March 31,2025 | September 30,2024 | _March 31, 2025 March 31,2024 [Segment Revenue

Knitted dothes 1.93464 149987 343451 212618

Ornaments 029 106 135 7980

Others - - - - Total 193493 15003 3435.86 220598

Segment Result - Continuing Knitted clothes 18120 20812 38932| - 22700

Ormaments 1.06) 106 - 3831

Others - - S o

Total 18014 20918 38932 26531

Less: Unallocated expenses 723 7845 15569 6456

10291 1072 23363 20075

Add: Other income 978 - 978 -

Less: Finance costs 1056 a8 1538 665

[Profit before exceptional items 10213 12590 22803 19410

[Add : Exceptional items 5 g g o

Profit before tax 10213 12530 22803 19410

Tax expense 2057 3528 6485 5590

Profit from continuing operations 7256 9062 16318 13820

Loss from discontinued operations (after tax) 5 : 3 2

Profit including discontinued operations 7256 9062 16318 13820

Other Comprehensive Income - - - -

Total Comprehensive Income 7256 9062 1638 13820 (Comprising Profit/(loss) and Other comprehensive Income)

Segment Assets Knitted clothes 7042 96055 7042 34886

Omaments 145 156 145 194

Unallocated 21694 12698 21694 13381

Total s28.82 1,089.09 92882 48461

Segment Liabi Knitted clothes 14151 51283 14151 3910

Omaments B : g 3

Unallocated 12636 17086 12636 13082

Total 26787 683.79 267.87 16992

DIN-09283654.

----------------Page (8) Break----------------

Avax Apparels and Ornaments Limited

CIN No: L14101DL2005PLC137127

Registered and Corporate Office: 611 6TH FLOOR JAINA TOWER i DISTT CENTRE,

JANAK PURI, Delhi, India, 110058

Notes to the audited Financial Results for the year ended March 31, 2025

1. The above results have been reviewed and recommended by the Audit Committee and approved by the

Board at their meetings held on May 23, 2025.

2. The financial results have been prepared in accordance with the Indian Accounting Standards (‘Ind AS’) as

prescribed under section 133 of the Companies Act, 2013 (“the Act”) read with relevant rules thereunder and

in terms of regulation 33 of the SEBI (listing obligation and disclosure requirements) Regulations, 2015 (as

amended).

3. During the year ended March 31, 2025 pursuant to initial public offering (IPO) 2,74,000 equity shares of Rs. 10 each were allotted to public at a premium of Rs. 60 per share. The shares were listed at BSE on January

14, 2025, pursuant to IPO. The details of the utilization of IPO proceed till March 31, 2025 is as under:

Objects Amount Utilised till March 31, Remarks

(in lakhs) | 2025 (in lakhs)

Working Capital Requirement 150.00 150.00 No Deviation

General Corporate Purposes 21.80 18.08 Pending utilization the amounts

Jssue Expenses 20.00 872 have been parked in the Current

account of the company.

4. In accordance with Ind AS-108 "Operating Segments" and based on "Management Evaluation", the Chief

Operating Decision Maker ("CODM") evaluates the Group's performance and allocates resources based on

the analysis of various performance indicators of business segments. Accordingly, information has been

presented along these business segments. The accounting principles used in preparation of consolidated

financial results are consistently applied to compute the revenue and results of reportable segments.

5. The basic and diluted earnings per share have been calculated in accordance with the Indian Accounting

Standard -33 "Earnings Per Share”.

6. The figures for the half year ended March 31, 2025 are the balancing figures between audited figures in

respect of full financial year and the unaudited management figures for the half year ended September 30,

2024 in these financial results.

7. Figures for the previous periods have been regrouped/reclassified wherever necessary to conform to the

current period's classification.

By the order of the Board

pardls awms Limited

Harinderpal Singh Sodhi

Managing Director

DIN-09283654

Place: DELHI

Date: May 23, 2025

----------------Page (9) Break----------------

AVAX APPARELS AND ORNAMENTS LIMITED

(formerly known as Avax Soft Technologies Limited)

\

E-mai

Regd. Office: 611, 6th Floor, Jaina Tower II, Distt Center,

Janak Puri, New Delhi 110058,

CIN: L14101DL2005PLC137127; Website: www.avaxapparels.com

nfo@avaxapparels.com; Mobile: 9599497767

Annexure - A

Statement on Deviation or Variation for proceeds of Public Issue

Name of listed entity Avax Apparels And Ornaments Limited

Mode of Fund Raising Public Issues (Initial Public Offer) Date of Raising Funds 10-01-2025

Amount Raised Rs. 191.80 Lakhs

Report filed for Quarter/half year ended | 31-03-2025

Monitoring Agency Not applicable

Monitoring Agency Name, if applicable Not applicable

Is there a Deviation / Variation in use of

funds raised No If yes, whether the same is pursuant to

change in terms of a contract or objects,

which was approved by the shareholders Not applicable

If Yes, Date of shareholder Approval Not applicable

Explanation for the Deviation /

Variation Not applicable

Comments of the Audit Committee after

review

The same has been reviewed by Audit

committee at their meeting held on 23w

May, 2025 Comments of the auditors, if any

None

Objects for which funds have been raised and where there has been a deviation, in the

ollowing table: Amount (In ¥ Lakh) Amount of

o Deviation/V

s | originar | Modified | P8 | Modifiea | | ariationfor [ o

r.| Object | OPECH | pygcqe | llocation | oy oy | the period | T T g jec if any i ,if any according to y on d

applicable

object 1. [ Working

Capital NA | 150.00 NIL 150.00 NIL NoJ Requireme Deviation

nt 2. | General

Corporate NA 21.80 NIL 18.08 NIL pos Sor Deviation rposes

B [JRi==ce NA 20.00 NIL 08.72 NIL No Expenses Deviation

Deviation or variation could mean: (a) Deviation in the objects or purposes for which the funds have been raised or

(b) Deviation in the amount of funds actually utilized as against what was originally disclosed

or () Change in terms of a contract referred to in the fund raising document i.e. prospectus,

letter of offer, etc

For and on behalf of the Board of Directors

els|\And\Ornaments Limited M/s Avax App|

Harind¢rpal Singh Sodhi

(Managing Director)

DIN: 09283654

----------------Page (10) Break----------------

AVAX APPARELS AND ORNAMENTS LIMITED

{formerly known as Avax Soft Technologies Limited)

Regd, Office: 611, 6th Floor, Jaina Tower [I, Distt Center,

Janak Puri, New Delhi 110058,

CIN: L14101DL2005SPLC137127; Website: www.avaxapparels.com

E-mail: Infoaavaxapparels.com; Mobile: 9599497767

23+ May 2025

To. The Department of Carporate Services,

BSE Limited,

20" Floor, P.J Towers, Dalal Street,

Mumbai - 400 001

Serip Code: 544337 | Serip Symbol: AVAX | ISIN: INEONQ401016

Dear Sir/ Ma'am,

Pursuant to Regulation 33(3)id) of the SEBI (Lis Requirements) Regulations, 2015 as amended from ti

declare that, M/s. NKSC & Co., Chartered Accountants, have issued an Audit Report with Unmodified

Results of the Company for half year and year ended on Marc

Kindly consider this and take the same on record.

Thanking you, Yours faithfully,

E’.Tfi.&fi m:--u;mma

Haringlerpal Singh Sodhi Managing Director]

IN: 09283654

----------------Page (11) Break----------------