Modulex Construction Technologies Ltd — Results, 27-05-2025: Result

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

Sub: Outcome of the Board Meeting held on Tuesday, 27th May, 2025 and submission of Audited

Standalone and Consolidated Financial Results of the Company for the quarter and Financial

Year ended 31st March, 2025 and Disclosure under SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015 (“SEBI Listing Regulations”).

Dear Sir/Madam,

In reference to the earlier communication dated 22nd May, 2025 and pursuant to the provisions of

Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting

held on Tuesday, i.e. 27th May, 2025, has inter-alia considered and approved the following business

items:

1. Audited Standalone and Consolidated Financial Results of the Company for the Quarter and

Financial Year ended 31st March, 2025 together with Statutory Auditor’s Report on Standalone

and Consolidated Financial Results as Annexure A pursuant to Regulation 33 of the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015, are enclosed herewith.

2. Board of Director’s Report along with other statutory reports for the Financial Year ended 31st

March, 2025.

3. Notice of 52nd Annual General Meeting to be held on Thursday, 10th July, 2025 at 01.00 p.m.

through Video Conferencing/Other Audio Visual Means (VC/OAVM).

4. The Register of Members and Share Transfer Register will remain closed from Thursday, 03rd

July, 2025 to Thursday, 10th July, 2025 (both day inclusive) for the above-mentioned purpose.

Further, pursuant to SEBI Listing Regulation read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-

2/CIR/P/2024/185 dated 31st December, 2024, we are submitting herewith the information for the

submission of Integrated Filing (Financials) for the quarter and Financial Year ended 31st March,

2025.

5. Statement on impact of Audit Qualifications (for audit report with unmodified opinion)

submitted along-with annual Audited Financial Results (Standalone and Consolidated)

(applicable only for Annual Filing i.e., 4th quarter) Annexure -B

27th May, 2025

Ref.: MCTL/2025-26/BSE-001

To,

The Manager,

Department of Corporate Services,

BSE Limited,

Phiroze Jeejeebhoy Towers,

Dalal Street, Fort,

Mumbai - 400 001.

Security ID: MODULEX Scrip Code: 504273

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

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

6. Appointment of Mr. Hitesh Gupta, Practicing Company Secretary, as the Secretarial Auditor of

the Company for a term of five consecutive Financial Years commencing from FY 2025-26 and

ending with FY 2029-30. Annexure – C (attached herewith).

7. Appointment of M/s. MJS & Co. Chartered Accountants (Firm Registration No. 148649W) as an

Internal Auditors of the Company for the FY 2025-26. Annexure – D (attached herewith).

8. Statement on deviation or variation for proceeds of preferential issue. - Annexure -E (attached

herewith)

9. Format for disclosing outstanding default on loans and debt securities – Not applicable.

10. Reconstitution of the Audit Committee.

The meeting of the Board of Directors of the Company commenced at 2.28 pm IST and concluded at

03.18 pm IST.

You are requested to kindly take the same on records.

Yours faithfully,

For Modulex Construction Technologies Limited

Bhoomi Mewada

Company Secretary and Compliance Officer

Encl: As above

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

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

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

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

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

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

(INR in Lakhs)

March 31, 2025 December 31, 2024 March 31, 2024 March 31, 2025 March 31, 2024(Audited)(Unaudited)(Audited) (Audited) (Audited)

IIncomeRevenue from operations - - - - -

Other income 6.054.304.2418.8718.41

Total income 6.054.304.2418.8718.41

IIExpensesEmployee benefits expense16.294.296.3129.1615.62

Finance costs 2.2513.829.5045.6654.87Depreciation and amortisation expenses0.070.07- 0.14-

Other expenses 43.6930.4731.03121.1691.10

Total expenses62.3048.6546.83196.12161.59IIIProfit / (Loss) before tax (I-II)(56.24)(44.35)(42.59)(177.25)(143.18)

IVTax expenses Current Tax - - - - -

Deferred Tax - - - - - Short / (Excess) Tax provision of earlier years - - - - -

VProfit / (Loss) after tax (III-IV)(56.24)(44.35)(42.59)(177.25)(143.18)

VIOther comprehensive income / (loss) Items that will not be reclassified to profit or loss - - - - -

Items that will be reclassified to profit or loss - - - - -

Total comprehensive profit/(loss) net of tax (V+VI)(56.24)(44.35)(42.59)(177.25)(143.18)

VIIPaid-up equity share capital 6920.18 6920.18 6920.18 6920.18 6920.18 (face value of Rs. 10/- each)

VIIIOther Equity (excluding Revaluation Reserves)29834.3328371.21

IXEarnings per share (EPS) (not annualised) (a) Basic (in Rs.) (0.08) (0.06) (0.06) (0.26) (0.21)

(b) Diluted (in Rs.)(0.08) (0.06) (0.06) (0.26) (0.21)

NOTES:1

2

3

4

5

6

7

8

For and on behalf of the Board of Directors ofModulex Construction Technologies Limited

Ajay PalekarPlace: Pune Managing Director

Date: 27th May, 2025 DIN:02708940

Sr. No.

MODULEX CONSTRUCTION TECHNOLOGIES LIMITED

CIN - L25999PN1973PLC182679

Regd. Office : A-82, MIDC Industrial Estate, Indapur, Pune, Maharashtra - 413132

Statement of audited Standalone Financial Results for the Quarter and Year ended March 31, 2025

Quarter Ended Standalone Financial Results Year Ended

The figures of the previous period(s) have been regrouped / reclassified wherever necessary to conform to current year presentation.

Thefiguresforthequarterended31March,2025and31March,2024andarethebalancingfiguresbetweenunauditedfiguresinrespectoffullfinancialyearandtheunauditedpublishedyear-to-datefiguresupto third quarter of the current and previous financial years which were subject to limited review.

Particulars

Theabovefinancialresults(statement)havebeenreviewedanditisrecommendedbytheAuditCommitteeoftheBoardwhichisapprovedbytheBoardofDirectorsattheirmeetingheldon27thMay,2025.The Statutory Auditors have expressed an unmodified audit opinion on these results.

Theabovefinancialresults('Statement')havebeenpreparedinaccordancewiththeIndianAccountingStandards("Ind-AS")prescribedundersection133oftheCompaniesAct,2013andotheraccountingprinciples generally accepted in India.

InaccordancewithIndAS108–OperatingSegments,theCompanyhasdeterminedthatitoperatesinasinglebusinesssegment,namely,civilconstruction.AllactivitiesoftheCompanyarealignedtothissegment, and the management monitors and reviews the operational performance collectively for this line of business. Accordingly, no separate segment disclosures are required.

Thefairvalueoftheinvestmentinthesubsidiary,ModulexModularBuildingsPrivateLimited(MMBPL),asassessedbyanindependentvaluerfortheyearendedMarch31,2025,isadequatetocoverthecarryingamountoftheinvestment.Thevaluationconsiderstheprogressofthesubsidiary’sprojectanditsprojectedbusinessperformanceinthecomingyears.Basedonmanagement’slong-termoutlook

and continued commitment to the subsidiary’s future business potential, no impairment is considered necessary at this stage.

TheCompanyhasincurredanetloss(beforeOtherComprehensiveIncome)duringthecurrentperiodandinpreviousyears,primarilyduetodelaysintheimplementationoftheprojectatPunethroughitssubsidiary,ModulexModularBuildingsPrivateLimited(MMBPL).Thesedelays,alongwithothercontributingfactors,haveresultedinasituationwheretheCompany’scurrentassetsareinsufficienttomeet

its current liabilities, thereby indicating the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern.

However,inJune2024,thesubsidiaryreceivedalandre-allotmentorderfromMIDCandsubsequentlyexecuteda95-yearlong-termleaseagreementwiththeSub-RegistraratIndapuronAugust9,2024.Aspreviouslycommitted,themanagementhasinitiatedthefactory construction projectat Indapur,DistrictPune,through MMBPLand isactively workingtowardsitscompletion.Thepromotersandother

investors have extended financial support to facilitate the completion of this project. In view of these developments, the Standalone Financial Results have been prepared on a going concern basis.

Duringthefinancialyear2024–25,theBoardofDirectors,initsmeetingheldon13thNovember2024,approvedtheissuanceofupto3,71,80,555convertiblewarrants,aggregatingto₹6,292.49lakhs,atanissuepriceof₹18perwarrant,onapreferentialbasis.Subsequently,on10thDecember2024,theshareholdersapprovedtheissuanceof3,71,80,555convertiblewarrants(aggregatingto₹6,292.49lakhs)

through a resolution passed at the Extraordinary General Meeting. The Company received in-principle approval from the Bombay Stock Exchange on 17th December 2024 for the proposed issue of3,71,80,555convertiblewarrants,eachconvertibleintooneequityshareoffacevalue₹10,atapricenotlessthan₹18perwarrant,tonon-promotersonapreferentialbasis.Further,on18thDecember2024,

theBoard of Directorsapproved theallotmentof 1,16,89,473 convertible warrants,representing25%of thetotal consideration (i.e., ₹1,573.12 lakhs, being25% of ₹6,292.49 lakhs),in accordancewithapplicable regulations. As on 31st March 2025, the Company had received ₹1,673.12 lakhs towards application money for the convertible warrants.

AJAY

SHRIDHAR

PALEKAR

Digitally signed by AJAY SHRIDHAR

PALEKAR Date: 2025.05.27

15:04:04 +05'30'

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

(INR in Lakhs)

As at As at

March 31, 2025 March 31, 2024

(Audited) (Audited)

IASSETS

Non-current assets

Property, plant and equipment0.320.01

Financial assets:

Investments36048.1936049.96

Loans and Advances781.83-

Deferred tax assets (net)- -

Other non-current assets - 48.04

36830.3436098.01

Current assets

Financial assets:

Cash and cash equivalents28.100.04

Other financial assets9.644.61

Other current assets72.59-

110.334.65

Total36940.6736102.66

IIEQUITY AND LIABILITIES

Equity

Share capital6920.186920.18

Other equity29834.3328371.21

36754.5135291.39

Liabilities

Non-current liabilities

Financial liabilities:

Borrowings- 516.67

Other non current financial liabilities- 159.45

- 676.11

Current Liabilities

Financial liabilities:

Borrowings - 0.00

Trade payables

Payable to micro enterprises and small enterprises1.193.09

Payable to others79.7540.99

Other current financial liabilities9.256.39

Other current liabilities95.9784.69

186.16135.16

Total36940.6736102.66

For and on behalf of the Board of Directors of

Modulex Construction Technologies Limited

Ajay Palekar

Place: PuneManaging Director

Date: 27th May, 2025DIN:02708940

ParticularsSr. No.

MODULEX CONSTRUCTION TECHNOLOGIES LIMITED

CIN - L25999PN1973PLC182679

Regd. Office : A-82, MIDC Industrial Estate, Indapur, Pune, Maharashtra - 413132

Audited Standalone Statement of Assets and Liabilities as at March 31, 2025

AJAY

SHRIDHAR

PALEKAR

Digitally signed by AJAY SHRIDHAR

PALEKAR Date: 2025.05.27

15:04:28 +05'30'

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

(INR in Lakhs)

March 31, 2025March 31, 2024

(Unaudited) (Unaudited)

A) Cash Flow from Operating Activities :

Net (Loss) before tax(177.25)(143.18)

Adjustments for Non-Cash and Non-Operating Items :

Interest income on deposit, investment and Income tax refund(18.80)(9.02)Depreciation0.14-

(Gain) /Loss on financial instruments at fair value through profit and loss1.80(2.64)

Finance Cost45.6654.87

Other Income0.74(6.75)

Operating Profit before Working Capital Charges(147.71)(106.73)

Adjustment for:

(Increase) / Decrease in current and non current assets(22.67)(13.22)

Increase / (Decrease) in current and non current liabilities51.0148.05

Cash generated from Operations(119.37)(71.90)

Income Tax paid (Net of Refund) - -

Net Cash Flow (used in) Operating Activities (A)(119.37)(71.90)

B) Cash Flow from Investing Activities:

Repayment of Loan given during the year56.33-

Proceeds from unsecured loan from Holding Company(838.16)-

Interest Received on Compulsory Convertible Debenture11.899.02

Recognition of property, plant and equipment (0.45) -

Net Cash (used in) / generated from Investing Activities (B)(770.39)9.02

C) Cash Flow from Financing Activities:

Proceeds from unsecured loan from subsidiary99.1067.15

Repayment of unsecured loan from subsidiary(616.53)(0.40)

Payment of Interest on unsecured loan from subsidiary(205.11)-

Transaction cost for increase in authorised share capital(32.76)(4.04)

Proceeds from issue of share warrants1673.13-

Net Cash generated from financing Activities (C )917.8362.72

Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C)28.06(0.16)

Reconciliation of Cash and Cash Equivalents with the Balance Sheet

Opening Balance0.040.20

Closing Balance28.100.04

Net Increase/ (Decrease) in cash and cash equivalents28.06(0.16)

For and on behalf of the Board of Directors of

Modulex Construction Technologies Limited

Ajay Palekar

Place: Pune Managing Director

Date: 27th May, 2025 DIN:02708940

Sr.

No. Particulars

MODULEX CONSTRUCTION TECHNOLOGIES LIMITED

CIN - L25999PN1973PLC182679

Regd. Office : A-82, MIDC Industrial Estate, Indapur, Pune, Maharashtra - 413132

Statement of Audited Standalone Cash Flow for the Year ended March 31, 2025

Year Ended

AJAY

SHRIDHAR

PALEKAR

Digitally signed by AJAY SHRIDHAR

PALEKAR Date: 2025.05.27

15:04:51 +05'30'

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

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

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

----------------Page (12) Break----------------

----------------Page (13) Break----------------

----------------Page (14) Break----------------

----------------Page (15) Break----------------

----------------Page (16) Break----------------

(INR in Lakhs)

March 31, 2025 December 31, 2024 March 31, 2024 March 31, 2025 March 31, 2024

(Audited) (Unaudited) (Audited) (Audited) (Audited)

IIncome from operationsIncome from operations- -

Other income 13.420.2197.891307.77115.54

Total income from operations13.420.2197.891307.77115.54

IIExpensesEmployee benefits expense96.8154.5057.97258.29207.48

Finance costs 63.6867.15(63.78)215.2572.55Depreciation and amortisation expenses3.613.092.3311.769.24

Other expenses 121.9681.96150.96359.30500.29

Total expenses286.05206.71147.49844.60789.55IIIProfit/(Loss) before share in (Loss) of Associate, exceptional

item and tax (I-II)(272.63) (206.50) (49.60) 463.16 (674.01)IVShare in (Loss) of Associate

VProfit/(Loss) before exceptional items and tax (III-IV)(272.63)(206.50)(49.60)463.16(674.01)VIExceptional item

VIIProfit/(Loss) before tax (V-VI)(272.63)(206.50)(49.60)463.16(674.01)VIIITax expenses

Current tax - - 24.20- 24.20Deferred tax - - -

Short / (Excess) Tax provision of earlier years - - (7.54)(24.20)(7.54)

IXProfit / (Loss) after tax (III-IV)(272.63)(206.50)(66.27)487.37(690.68)

XOther comprehensive income / (loss) net of taxItems that will not be reclassified to profit or loss

Change in Fair Value of Equity Instrument - FVTOCI - (226.32) - 362.92- Share in other comprehensive loss of Associate - - - - -

Remeasurement of the defined benefit plans (Net) - - 0.56(2.32)0.56Items that will be reclassified to profit or loss

XITotal comprehensive profit/(loss) net of tax (V+VI)(272.63)(432.82)(66.83)847.97(691.24)

Profit / (Loss) for the period attributable to:Owners of the Group (227.37)(203.20)(66.19)445.49(689.86)

Non-Controlling interests (45.26)(3.30)(0.08)41.87(0.82)

Other Comprehensive Income for the period attributable to :

Owners of the Group 0.00(223.80)0.56336.510.56Non-Controlling interests0.00(2.52)0.0024.090.00

Total Comprehensive Income for the period attributable to :

Owners of the Group (227.37)(427.00)(66.75)108.98(690.41)Non-Controlling interests (45.26)(5.82)(0.08)17.78(0.82)

XIIPaid-up equity share capital 6920.186920.186920.186920.186920.18(face value of Rs. 10/- each)

XIIIOther Equity (excluding Revaluation Reserves)23186.3420754.16XIVEarnings per share (EPS) (not annualised)

(a) Basic (in Rs.) (0.33) (0.29) (0.10) 0.64 (1.03) (b) Diluted (in Rs.)(0.33) (0.29) (0.10) 0.64 (1.03)

NOTES:1

2

3

Sr. No.

MODULEX CONSTRUCTION TECHNOLOGIES LIMITED

CIN - L25999PN1973PLC182679

Regd. Office : A-82, MIDC Industrial Estate, Indapur, Pune, Maharashtra - 413132

Statement of Audited Consolidated Financial Results for the Quarter And Year ended March 31, 2025

Quarter Ended

Consolidated Financial Results

Year Ended

Theauditedconsolidatedfinancialresults(Statement)havebeenreviewedaswellasrecommendedbytheAuditCommitteeoftheBoardwhichisapprovedandtakenonrecordbytheBoard of Directors at their meeting held on 27th May, 2025. The Statutory Auditors have expressed an unmodified audit opinion on these result.

Particulars

Theaboveconsolidatedfinancialresults('Statement')havebeenpreparedinaccordancewiththeIndianAccountingStandards("Ind-AS")prescribedundersection133oftheCompaniesAct, 2013 and other accounting principles generally accepted in India.

Theholdingcompanyhasmadeinvestmentsinthesubsidiarycompany,ModulexModularBuildingsPrivateLimited(MMBPL)andisrecognisedatcostinbooksofaccounts.Thesubsidiarycompany had encountered significant delay in starting the commercial operations at Indapur Pune due to multiple factors including delay in raising the funds and non-receipt of an

extensionletterfromMIDC.InFY23-24,thecompanyreceivedaLetterofofferdated04thMarch,2024fromMIDCwithconditionofpaymentofadditionalre-allotmentpremiumofINR774.40lakhsforre-allotmentofthelandatMIDCIndapur,Pune. Afterpaymentofre-allotmentpremiumthecompanyhasreceivedalandre-allotmentorderfromMIDCinJune2024and

has registered the a long-term lease agreement for 95 years with the Sub Registrar Indapur, Pune on 9th August, 2024. The management is committed to completing the factoryconstruction project in Indapur, District Pune. During the year 24-25, it has commenced construction and machinery installation activities of the factory.

Basedonthelatestdevelopmentsandtheshareholder'scommitmenttofundtheprojectandcompletingtheconstructionproject,managementbelievesthatnoimpairmentisrequiredforthe investment in the subsidiary.

----------------Page (17) Break----------------

MODULEX CONSTRUCTION TECHNOLOGIES LIMITED

CIN - L25999PN1973PLC182679

Regd. Office : A-82, MIDC Industrial Estate, Indapur, Pune, Maharashtra - 413132

Statement of Audited Consolidated Financial Results for the Quarter And Year ended March 31, 2025

4

5

6

7

8

9

10

11

12

13

For and on behalf of the Board of Directors ofModulex Construction Technologies Limited

Ajay PalekarPlace: Pune Managing Director

Date: 27th May, 2025 DIN:02708940

ThefiguresforthequarterendedMarch31,2025andMarch31,2024arethebalancingfiguresbetweenauditedfiguresinrespectoffullfinancialyearandtheunauditedpublishedyear-to-date figures up to third quarter of the current & previous financial years which were subject to limited review by the statutory auditors.

The figures of the previous period(s) have been regrouped / reclassified wherever necessary, to conform to current year presentation.

TheHoldingCompanyandtheSubsidiary(GVWDPL)isnotrequiredtoobtainregistrationasaNon-BankingFinancialCompany(NBFC)asitisneithercarryingonanyfinancialactivitiesnorproposingtocarryonthefinancialactivitiesasaprincipalbusinessinthefuture.Further,therevenueoftheHoldingCompanyandSubsidiarycompanyisaffectedmainlyduetothedelay

inimplementingtheprojectbytheSubsidiary[ModulexModularBuildingsPrivateLimited(MMBPL)].However,itistakingnecessarystepstogeneraterevenuefromnon-financialassets.This opinion is also confirmed by the consultant of the Holding Company and the auditor has relied upon this opinion.

TherearenoreportablesegmentsunderIndAS-108 ‘OperatingSegments’asalltheactivitiesrelatetoonlyonesegmenti.e.civilconstruction.Further theGroupisalsoreviewingtheresults / operations as single segment i.e. civil construction.

TheGrouphascontinuouslyincurredlossesinthepreviousyearsduetothedelayinimplementingtheprojectatPunethroughitssubsidiarycompany,ModulexModularBuildingsPrivateLimited(MMBPL).Duetodelaysfacedintheimplementationoftheprojectandotherfactors,thegroup’scurrentassetsarenotsufficientto meetitscurrentliabilitiesandtherefore

material uncertainty that may cast significant doubt on the group continuing as a going concern. InJune2024,thesubsidiaryreceivedalandre-allotmentorderfromMIDCandsubsequentlyregistereda95-yearlong-termleaseagreementwiththeSub-RegistrarinIndapuronAugust9,

2024.ThemanagementhasreaffirmeditscommitmenttocompletingthefactoryconstructionprojectinIndapur,DistrictPune,throughitssubsidiary.Thepromotersarealsocommittedtoproviding financial support as needed. Consequently, the Consolidated Financial Results have been prepared on a going concern basis.

InrespectofSubsidiary(MMBPL),duringtheyear2024-2025theMaharashtraIndustrialDevelopmentCorporation(MIDC)hasreallotted1,60,000SquareMetersoflandtotheCompanyon longterm leasefor aterm of Ninety-Five (95) yearswhich enablesitto restarttheconstruction of itsmanufacturingfacilityand eventuallycommencecommercial production i.e.

conducivetothereversalofthepreviouslyrecognisedimpairmentlossinthebooksofaccounts.Duringtheyear2024-25,MMBPLhascommencedconstructionandmachineryinstallationactivitiesofthefactory.Consideringtheseindicators,thecompanyhascarriedoutimpairmentreassessmentasperIND-AS36whererecoverableamountexceededtheasset’scarrying

value and therefore previously recognised impairment loss of INR 1282.43 lakhs has been reversed in the profit & loss account.

InrespectofSubsidiary(MMBPL),theSubsidiaryCompanyinitiallyinvestedinPreferenceSharesofEcoHotelsIndiaPvt.Ltd.(EHIPL),whichweresubsequentlyconvertedtoEquitySharesata1:1ratiofollowingaBoardofDirectorsresolutiondatedJanuary31,2024.DuringFY2023-24,EHIPLbecameasubsidiaryofEcoHotels&ResortsLtd.(EHRL),formerlyknownasShard

Fibers & Yarns Processors Ltd., which is listed on the Bombay Stock Exchange (BSE).TheBoardandShareholdersofEHRLapprovedtheissuanceof2,99,999EquitySharestoModulexModularBuildingsPvt.Ltd.(MMBPL)viapreferentialallotment,ina1:1ratio.OnJune28,

2024,EHRLreceivedapprovalfromBSEforthispreferentialallotment.Consequently,MMBPLrecordedtheinvestmentinitsbooksatthefairvalue(quotedmarketprice)ofRs.50.38pershare as of June 30, 2024 and subsequently remeasured at fair value as at reporting date.

InrespectofSubsidiary(MMBPL),OneoftheindependentdirectorsdemandedthefeesofINR96.33lakhsinFY2021-22.ThesaidformerIndependentDirectorwasbroughtonboardonthemutualunderstandingthatfeeswillbepayableonachievingfinancialclosureoftheprojectandsincefinancialclosurewasnotachieved,thefeeswerenotpayabletothesaidDirector.

However,inFY 2021-22and2022-23,thecompanyhadpaidINR47.18lakhsasexpendedgoodwill,andthebalanceamountweretreatedascontingentliabilitiesinthepreviousyearpending the outcome final dispute/settlement. The entire amount of INR 62.15 lakhs is considered as contingent liabilities as on March 31, 2025.

InthecaseofGiveVinduetWindowsandDoorsPrivateLimited (GVWDPL),another subsidiary,did notcommencetheirbusinessoperationstillthedateofsigningofthisreport.Thisconditionwouldraisesubstantialdoubtaboutthecompany’sabilitytocontinueitsoperationfortheforeseeablefuture.TheCompany’sabilitytocontinueasagoingconcernisdependent

uponitsabilitytogeneratesufficientlevelofpositivecashflowsfromitsfutureoperationsandcontinuedfinancialsupportofthecompany.However,thecompanyisplanningtostartitsmanufacturingactivitiesofwindowsanddoorsintheproductionfacilitiesatIndapurMIDC,Punewhichiscurrentlyunderconstructionbyoneofitsgroupcompanies,ModulexModular

BuildingsPvt.Ltd.(MMBPL).Ithascommencedconstructionandmachineryinstallationactivitiesofthefactory,oncompletionofwhichtheCompanywillstartitsbusinessoperationsinFY2025-26. Considering this, the Financial Statements are prepared on a going concern basis.

Duringthefinancialyear2024–25,theBoardofDirectors,initsmeetingheldon13thNovember2024,approvedtheissuanceofupto3,71,80,555convertiblewarrants,aggregatingto₹6,292.49lakhs,atanissuepriceof₹18perwarrant,onapreferentialbasis.Subsequently,on10thDecember2024,theshareholdersapprovedtheissuanceof3,71,80,555convertible

warrants(aggregatingto₹6,292.49lakhs)througharesolutionpassedattheExtraordinaryGeneralMeeting.TheCompanyreceivedin-principleapprovalfromtheBombayStockExchangeon17thDecember2024fortheproposedissueof3,71,80,555convertiblewarrants,eachconvertibleintooneequityshareoffacevalue₹10,atapricenotlessthan₹18perwarrant,to

non-promotersonapreferentialbasis.Further,on18thDecember2024,theBoardofDirectorsapprovedtheallotmentof1,16,89,473convertiblewarrants,representing25%ofthetotalconsideration(i.e.,₹1,573.12lakhs,being25%of₹6,292.49lakhs),inaccordancewithapplicableregulations.Ason31stMarch2025,theCompanyhadreceived₹1,673.12lakhstowards

application money for the convertible warrants.

AJAY

SHRIDHAR

PALEKAR

Digitally signed by AJAY SHRIDHAR

PALEKAR Date: 2025.05.27

15:11:44 +05'30'

----------------Page (18) Break----------------

(INR in Lakhs)

As at As at

March 31, 2025 March 31, 2024

(Audited) (Audited)

ASSETS

Non-current assets

Property, plant and equipment1067.35 284.27

Goodwill on Consolidation25903.09 25903.09

Capital work in progress6059.93 3254.54

Financial assets:

Investments362.94 6.75

Other non-current assets244.42 666.76

33637.7330115.41

Current assets

Financial assets:

Cash and cash equivalents121.30 1.45

Loans and Advances17.20 16.38

Other financial assets16.31 3.80

Other current assets939.96 396.41

1094.77418.05

TOTAL34732.5030533.45

EQUITY AND LIABILITIES

EQUITY

Share Capital 6920.186920.18

Other equity 23201.2620778.89

Non Controlling interest 270.05204.09

30391.49 27903.15

LIABILITIES

Non-current liabilities

Financial liabilities:

Borrowings - -

Other financial liabilities 12.0733.63

Provisions 48.5541.79

60.62 75.42

Current Liabilities

Financial Liabilities:

Borrowings 1812.75533.89

Trade payables

Payable to micro enterprises and small enterprises 7.2616.56

Payable to others 394.88100.71

Other financial liabilities 941.74800.40

Other current liabilities 1100.041077.79

Provisions 23.7225.54

4280.39 2554.88

TOTAL34732.5030533.45

For and on behalf of the Board of Directors of

Modulex Construction Technologies Limited

Ajay Palekar

Place: Pune Managing Director

Date: 27th May, 2025 DIN:02708940

Particulars

MODULEX CONSTRUCTION TECHNOLOGIES LIMITED

CIN - L25999PN1973PLC182679

Regd. Office : A-82, MIDC Industrial Estate, Indapur, Pune, Maharashtra - 413132

Audited Statement of Consolidated Assets and Liabilities as at March 31, 2025

AJAY

SHRIDHAR

PALEKAR

Digitally signed by

AJAY SHRIDHAR

PALEKAR

Date: 2025.05.27

15:12:15 +05'30'

----------------Page (19) Break----------------

(INR in Lakhs)

As at As at

March 31, 2025 March 31, 2024

(Audited) (Audited)

A) Cash Flow from Operating Activities :

Net loss after exceptional item, share of (Loss) of Associate and before tax 463.16 (674.01)

Adjustments for Non-Cash and Non-Operating Items :

Depreciation and Amortisation 11.76 9.24

Interest income on deposit, investment, loan and income tax refund (2.82) (0.50)

(Gain) / loss on financial instruments at fair value through profit and loss - (75.95)

Liabilities no longer required written off (11.14) (8.84)

Finance cost 215.25 72.55

Reversal of CWIP (1293.01) -

Other Income (0.79) (30.26)

Cash Flow before Changes in Working Capital (617.60) (707.76)

Movement in working capital:

(Increase) / Decrease in Current assets (76.43) 241.69

Increase /(Decrease) in Current liabilities 475.27 (389.33)

Net Cash (Used in) Operating Activities(218.76) (855.40)

Income Tax paid (Net of Refund) - -

Net Cash Flow (used in) Operating Activities (A) (218.76) (855.40)

B)

Interest received on Fixed Deposit 2.82 0.11

Interest received 0.79 -

Sale of Shares 0.00 0.00

Unsecured Loan given to Company in which Directors are interested (0.15) (3.00)

Recognition of Property, plant and equipment Including CWIP (Net of Capital advances) (2317.79) -

Capital Advances (51.05) (193.60)Net Cash (Used In) / generated from Investing Activities (B) (2365.38) (196.48)

C) Cash Flow from Financing Activities:

Issue of share Capital (Including Security Premium) - 2474.98

Proceeds from issue of share warrants1673.13-

Repayment of borrowings to Directors(160.94)-

Proceeds from borrowings from Directors20.80130.89

Interest paid (215.25) (28.46)

Transaction cost for increase in authorised share capital / Shares Issue Expenses (32.76) (13.54)

Repayment of borrowings to related parties (147.00) (1907.71)

Proceeds from borrowings from other company 1566.00 393.70

Net Cash Flow generated from Financing Activities - (C ) 2703.99 1049.86

Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C) 119.85 (2.03)

Reconciliation of Cash and Cash Equivalents with the Balance Sheet

Cash & Cash Equivalent at the beginning of the year 1.45 3.48

Cash & Cash Equivalent at the end of the year 121.30 1.45

Net Increase/ (Decrease) in Cash and Cash Equivalents 119.85 (2.03)

For and on behalf of the Board of Directors of

Modulex Construction Technologies Limited

Ajay Palekar

Place: Pune Managing Director

Date: 27th May, 2025 DIN:02708940

Sr.

No. Particulars

MODULEX CONSTRUCTION TECHNOLOGIES LIMITED

CIN - L25999PN1973PLC182679

Regd. Office : A-82, MIDC Industrial Estate, Indapur, Pune, Maharashtra - 413132

Statement of Audited Consolidated Cash Flow for the Year ended March 31, 2025

AJAY

SHRIDHAR

PALEKAR

Digitally signed by AJAY SHRIDHAR

PALEKAR Date: 2025.05.27

15:12:45 +05'30'

----------------Page (20) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

27th May, 2025

Ref.: MCTL/2025-26/BSE-002

To,

The Manager,

Department of Corporate Services,

BSE Limited,

Phiroze Jeejeebhoy Towers,

Dalal Street, Fort,

Mumbai - 400 001.

Security ID: MODULEX Scrip Code: 504273

Annexure B

Declaration of Unmodified opinion of the Statutory Auditors on Audit Report of Audited

Standalone and Consolidated Financial Results ended 31st March, 2025.

I, Mr. Mahendra Kumar Bhurat, Chief Financial Officer of the Company, to the best of my knowledge

and belief hereby declare that the Company’s Statutory Auditors, M/s Dhadha & Associates

Chartered Accountants, (Firm Registration No.: 013807S), have submitted an Unmodified opinion on

Audit Report of Audited Standalone and Consolidated Financial Results ended 31st March, 2025.

Yours faithfully,

For Modulex Construction Technologies Limited

Mahendra Kumar Bhurat

Chief Financial Officer

MAHENDRA

KUMAR BHURAT

Digitally signed by MAHENDRA KUMAR BHURAT

Date: 2025.05.27 13:27:17 +05'30'

----------------Page (21) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

Annexure -C

Appointment of Secretarial Auditor

Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, this is to inform you that based on the recommendation of the

Audit Committee, the Board of Directors in its meeting held on Tuesday, i.e. 27h May, 2025, has

approved the appointment of Mr. Hitesh Gupta, Practicing Company Secretary (COP No. 12722) as

Secretarial Auditor of the Company for a period of 5 consecutive years commencing from FY 2025-26

till FY 2029-2030, subject to approval of the shareholders of the Company at the ensuing Annual

General Meeting.

The details as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular

No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024 (‘SEBI Circular’), are given in

Annexure C.

Details under amended Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015.

Sr.

No.

Particulars Appointment of Secretarial Auditor – Mr. Hitesh Gupta,

Practicing Company Secretary.

1. Reason for change viz.

appointment

Appointment of Mr. Hitesh Gupta, Practicing Company

Secretary, (COP Number: 12722), as Secretarial Auditor of

the Company.

2. Date of appointment The Board at its meeting held on 27th May, 2025, approved

the appointment of Mr. Hitesh Gupta as Secretarial Auditor,

for a period of five consecutive years commencing from FY

2025-26 till FY 2029-2030, subject to approval of the

shareholders.

3. Term of Appointment 5 Years

4. Brief profile (in case of

appointment)

Mr. Hitesh J. Gupta (M No. 33684 and COP No. 12722) is an

Associate member of the Institute of Company Secretaries

of India (ICSI). He has over 13 years of experience of

Secretarial and Legal consultancy in the field of Company

Law, Secretarial Laws, Labour and Industrial Laws,

Insolvency, Bankruptcy and Securitization Laws, IPR and

FEMA Laws. He is primarily engaged in providing auditing

and other assurance services to his clients and has an

excellent command over Compliance Management and

Reporting.

5. Disclosure of relationships

between directors (in case of

appointment of a Director)

Not Applicable

6. Information as required

pursuant to BSE Circular ref. no.

LIST/COMP/14/ 2018-19.

Not Applicable

----------------Page (22) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

Annexure – D

Appointment of Internal Auditor

Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, this is to inform you that based on the recommendation of the

Audit Committee, the Board of Directors in its meeting held on Tuesday, i.e. 27h May, 2025, has

approved the appointment of MJS & Co. Chartered Accountants (Firm Registration No. 148649W) as

an Internal Auditors of the Company to conduct the Internal Audit for the Financial Year 2025-26.

The details as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular

No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024 (‘SEBI Circular’), are given in

Annexure D to this letter.

Details under amended Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015.

Sr.

No.

Particulars Appointment of Internal Auditor – MJS & Co. Chartered

Accountants.

1. Reason for change

viz. appointment

Appointment of MJS & Co. Chartered Accountants (Firm Registration

No. 348649W), as an Internal Auditors of the Company.

2. Date of appointment The Board at its meeting held on 27th May, 2025, approved the

appointment of MJS & Co. Chartered Accountants as an Internal

Auditors of the Company for the FY 2025-26.

3. Term of

Appointment

1 Years

4. Brief profile (in case

of appointment)

MJS & Co LLP a Chartered Accounting Firm based in Pune,

India bearing registration number 148649W is registered with ICAI

since January, 2019. Their network spread Pan-India for Statutory

Audit, Tax Audit, GST Audit, Internal Audit, Advisory, Compliance and

Representation. The firm is ideal Consulting, Audit, Outsourcing &

Company Secretary firm for corporate Houses, Multinationals, SMEs &

Startups. MJS is a peer reviewed firm by The Institute of Chartered

Accountants of India.

Their objective is to synergize the expertise with information

technology, in order to enhance the service delivery with strong client

focus. MJS has specialized teams for each of the services being

provided by the firm. MJS runs on a collaborative team work with 20

plus team members. The team is an appropriate mix of qualified

Chartered Accountants, experienced Inter Chartered Accountants,

Company Secretary, Graduates & Articled trainees. The team is

trained for handling specialized jobs basis the profiles allocated to

them on regular intervals.

They provide services for Domestic and International clients.

5. Disclosure of

relationships

between directors (in

case of appointment

Not Applicable

----------------Page (23) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

of a Director)

6. Information as

required pursuant to

BSE Circular ref. no.

LIST/COMP/14/

2018-19.

Not Applicable

----------------Page (24) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

Annexure – E

Statement on Deviation or Variation for the Proceeds of Preferential Issue

Statement on Deviation/ Variation in utilization of funds raised

Name of listed entity Modulex Construction Technologies Limited

Mode of Fund Raising Preferential Issue of warrants

Date of Raising Funds 01st January, 2025

Amount Raised Rs. 11,47,09,871/-

Amount received on application and call money Rs. 11,47,09,871/-

Report filed for Quarter ended 31st March, 2025

Monitoring Agency Not applicable

Monitoring Agency Name, if applicable Not applicable

Is there a Deviation/ Variation in use of funds

raised

Yes

If yes, whether the same is pursuant to change in

NA 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 No comments

Comments of the auditors, if any No comments

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

Original

Object

Modified

Object, if

any

Original

Allocation

Modified

Allocation if any

Funds Utilized Amount of

Deviation/

Variation

for the

quarter

according

to

applicable

object

Remark

if any

The

Company

utilized the

proceeds

from the

preferential

issue of

Warrants as

a loan to its

Subsidiary

Company i.e.

MMBPL for

the

construction

of the

NA Rs.52602628.5 Rs. 11,47,09,871 Rs.16,55,43,149 Nil NA

----------------Page (25) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

factory at

Indapur,

Pune,

Maharashtra.

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

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

etc.

----------------Page (26) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

STATEMENT ON DEVIATION OR VARIATION FOR THE PROCEEDS OF PREFRENTIAL ISSUE

Statement on Deviation/ Variation in utilization of funds raised

Name of listed entity Modulex Construction Technologies Limited

Mode of Fund Raising Preferential Issue of warrants

Date of Raising Funds 18th December 2024 and 01st January, 2025

Amount Raised Rs.16,55,43,149

Amount received on application and call money Rs.16,55,43,149

Report filed for Quarter ended 31st March, 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

NA 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 No comments

Comments of the auditors, if any No comments

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

table

Original Object Modified

Object, if

any

Original

Allocation

Modified

Allocation

if any

Funds Utilized Amount of

Deviation/V

ariation for

the quarter

according to

applicable

object

Remark

if any

The Company

utilized the

proceeds from

the preferential

issue of

Warrants as a

loan to its

Subsidiary

Company i.e.

MMBPL for the

construction of

the factory at

Indapur, Pune,

Maharashtra.

NA Rs.52602628.5

and Rs.

11,47,09,871

0 Rs.16,55,43,149 Nil NA

Deviation or variation could mean:

a) Deviation in the objects or purposes for which the funds have been raised or

----------------Page (27) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

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

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

offer, etc.

For Modulex Construction Technologies Limited

Ajay Palekar

Managing Director

AJAY SHRIDHAR

PALEKAR

Digitally signed by AJAY SHRIDHAR PALEKAR

Date: 2025.05.27 15:28:11 +05'30'

----------------Page (28) Break----------------

Modulex Construction Technologies Limited t/a Modulex CIN: L25999PN1973PLC182679

Registered Office: A-82, MIDC Industrial Estate, Indapur – 413 132, Maharashtra BSE Security Code: 504273 BSE Security ID: MODULEX

Website - www.modulex.in Email - compliance@modulex.in Contact - Tel: +91 2111 223061

Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 - Reconstitution of Committees

Dear Sir/Madam,

We wish to inform that the Board of Directors of the Company at their meeting held on 27th May,

2025 has reconstituted the Audit Committee of the Company as follows:

Name of the

Committee

Composition after Re-

constitution

Category

Audit Committee Mr. Parag Mehta (Chairman) Additional Director (Non-Executive

Independent)

Mrs. Rakhee Agarwal (Member) Non-Executive & Independent

Director

Mr. Jayesh Sheth (Member) Executive Director

You are requested to kindly take the same on records.

For Modulex Construction Technologies Limited

Bhoomi Mewada

Company Secretary and Compliance Officer

27th May, 2025

To,

The Manager,

Department of Corporate Services,

BSE Limited,

Phiroze Jeejeebhoy Towers,

Dalal Street, Fort,

Mumbai - 400 001.

Security ID: MODULEX Scrip Code: 504273

----------------Page (29) Break----------------