Krishna Filament Industries Ltd — Results, 27-05-2025: Result

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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