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KRISHNA FILAMENT INDUSTRIES LIMITED
CIN No: L25200MH1988PLC048178
Regd Office: Betegaon Village, Boisar (East), Taluka Palghar, Dist. Thane 401501-Maharashtra, IN
Tel No.: 02525 271 881/83 FAX: 02525-271 882
Email Id: maviindustriesltd@gmail.com
May 27, 2025
To,
BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai 400001
Scrip Code: 500248
Subject: : Outcome of the Board Meeting held on Tuesday, May 27, 2025
Pursuant to Regulation 33 and Regulation 30 read with Part A of Schedule III of
Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, we hereby inform that the Board of Directors of the
Company at its meeting held on Tuesday, May 27, 2025 has, inter alia, approved and
taken on record, the Audited Financial Results for the quarter and financial year
ended March 31, 2025.
A copy of the Audited Financial Results for the quarter and financial year ended
March 31, 2025 along with Auditor’s Report issued by M/s. P R Agarwal & Awasthi.
Chartered Accountants, Statutory Auditors of the Company is enclosed herewith.
The meeting of Board of Directors of the Company commenced at 03:00 P.M. and
concluded at 03:30 P.M.
Kindly take the same on your record.
Thanking you,
For Krishna Filament Industries Limited
Bhupat Chaniyara
Executive Director & CEO
DIN: 10327428
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Independent Auditor’s Report on the Audited Annual Financial Results of Krishna
Filaments Industries Limited for the quarter and year ended 31st March 2025 pursuant to
the Regulation 33 of SEBI (Listing Obligations and Disclosures Requirements)
Regulations, 2015 (as amended).
To ,
Board of Directors
Krishna Filament Industries Limited
Opinion
We have audited the accompanying Annual financial results of Krishna Filament Industries
Limited (Formerly Known as Mavi Industries Limited ) (“The Company” )for the quarter
and year ended 31st March , 2025 (“ Annual Financial Results”), attached herewith, being
submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended (Listing Regulations').
In our opinion and to the best of our information and according to the explanations given to us
these financial results:
i) are presented in accordance with the requirements of Regulation 33 of the Listing
Regulations in this regard; and
ii) give a true and fair view in conformity with the recognition and measurement
principles laid down in the applicable accounting standards and other accounting
principles generally accepted in India of the net loss and other comprehensive
income and other
iii) Financials information for the quarter and year ended 31 March, 2025.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those
Standards are further described in the Auditor's Responsibilities for the Audit of the Financial
Results 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 together with the ethical
requirements that are relevant to our audit of the financial results under the provisions of
Companies Act, 2013 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 we have obtained is sufficient and appropriate to provide a basis for our
opinion.
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Management's and Board of Director Responsibilities for the Annual Financial Results
These annual financial results have been prepared on the basis of the annual financial statements.
The Company’s Management and the Board of Directors are responsible for the preparation and
presentation of these annual financial results that give a true and fair view of the net profit/(loss)
and other comprehensive income and other financial information in accordance with the
recognition and measurement principles laid down in Indian Accounting Standards prescribed
under Section 133 of the Act 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 the design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for ensuring accuracy and
completeness of the accounting records, relevant to the preparation and presentation of the
annual financial results that give a true and fair view and are free from material misstatement,
whether due to fraud or error.
In preparing the annual financial results, the Management and 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 is responsible for overseeing the
Company’s financial reporting process.
Auditor's Responsibilities for the Audit of the Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the financial results as a whole
are 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 SAs 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 these financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the 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.
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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 through a separate report on the complete set of
financial statements on whether the company has adequate internal financial controls with
reference to financial statements in place 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 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 financial results, including the
disclosures, and whether the financial results represent the underlying transactions and events in
a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the
Company to express an opinion on the Statement. We are responsible for the direction,
supervision and
performance of the audit of financial information of the Company. We remain solely responsible
for our audit opinion.
Materiality is the magnitude of misstatement in the Financial Statements that, individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of
the
financial statements may be influenced. We consider quantitative materiality and qualitative
factors in (i) planning the scope of our audit work and in evaluating the results of our work; and
(ii) to evaluate the effect of any identified misstatement in the financial statements.
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.
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Other Matter
The annual financial results include the results for the quarter ended March 31, 2025 being the
balance figures between the audited figures in respect of the full financial year ended March 31,
2025 and the published unaudited year-to-date figures up to the end of the third quarter of the
current financial year, which were subject to limited review by us, as required under the Listing
Regulations. Our opinion on the Audit of the Financial Results for the year ended March 31,
2025 is not modified in respect of this matter
For P R Agarwal & Awasthi
Chartered Accountants
Firm Registration No.: 117940W
MR PAWAN KR AGARWAL
Partner
Membership No.:034147
UDIN: 25034147BMIHYT3527
Place: Mumbai
Date: 27 May 2025
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KRISHNA FILAMENT INDUSTRIES LIMITED
CIN No: L25200MH1988PLC048178
Regd Office: Betegaon Village, Boisar (East), Taluka Palghar, Dist. Thane 401501-Maharashtra, IN
Tel No.: 02525 271 881/83 FAX: 02525-271 882
Email Id: maviindustriesltd@gmail.com
May 27, 2025
To,
BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai - 400001
Scrip Code: 500248
Subject: Declaration pursuant to Regulation 33(3)(d) of the Securities and
Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015
We hereby declare that, the Statutory Auditors of the Company viz., M/s. P R Agarwal
& Awasthi (FRN: 117940W) have issued an Audit Report with unmodified opinion on
the Audited Financial Results for the quarter and financial year ended March 31,
2025 which have been approved at the Board Meeting held today, i.e. Tuesday, May
27, 2025.
Kindly take the above on record.
Thanking you,
For Krishna Filament Industries Limited
Bhupat Chaniyara
Executive Director & CEO
DIN: 10327428
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