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Aaron Industries Limited Audit Report / Information 2020
62073_rns_2020-08-29_7897bd6b-29b7-4e36-b057-381af5463b3b.pdf
Audit Report / Information
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$\bf{ARON}$ Industries Limited
(CIN-L31908GJ2013PLC077306)
REGD.OFFICE: B-65 & 66, Jawahar Road No. 4, Udhyog Nagar, Udhana, Surat -394210, Gujarat Tel:-0261-2278410, E-Mail:- [email protected], Website:- www.aaronindustries.net
4th August, 2020
To,
The Manager - Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400051
Symbol: AARON
Sub.: Reply to clarification
Dear Sir/Madam,
This is with reference to the clarification sought on Audited financial results submitted regarding:
Independent Auditor's Report is not in the format prescribed by SEBI
The same has been revised, please find attached Audited financial results for the Half year and Year ended 31st March, 2020 pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
You are requested to take the same on your record.
Thank you.
Yours faithfully, For Aaron Industries Limited
Ankitkumar Tank Company Secretary & Compliance Officer
Encl: as above
P. J. Desai & CHARTERED ACCOUNTANTS
34, Maher Park-A, Opp. Fly Over Bridge, Ring Road, Athwa Gate, Surat-395 001. Ph.: (Off.) 0261-2477082, 94284 57082 E-mail: [email protected] Website: www.dpica.com
Ref No.:
Date:
Independent Auditor's Report on Audited standalone Half Year Financial Results and Year to Date Results of M/s. Aaron Industries Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations; 2015
To. THE BOARD OF DIRECTORS OF AARON INDUSTRIES LIMITED
Opinion
We have audited the accompanying standalone financial results of Aaron Industries Limited (the company) for the half year ended 31st March, 2020 and the year to date results for the period from 1st April, 2019 to 31st March, 2020, 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 standalone 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 profit/loss and other financial information for the half year ended 31st March, 2020 as well as the year to date results for the period from 1st April, 2019 to 31st March, 2020.
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 Standalone 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 the 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.
Management's Responsibilities for the Standalone Financial Results
These half yearly financial results as well as the year to date standalone financial results have been prepared on the basis of the interim financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit/loss and other financial information in accordance with the recognition and measurement principles laid down in Accounting Standard 25, 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued thereunder 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 standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial results, 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 are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone 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 standalone 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 standalone 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.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
- 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 standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
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.
Place: Surat Date: 30.06.2020
AARON Industries Limited
(CIN-L31908GJ2013PLC077306)
REGD.OFFICE: B-65 & 66, Jawahar Road No. 4, Udhyog Nagar, Udhana, Surat -394210, Gujarat Tel:- 0261-2278410, E-Mail:- [email protected], Website:- www.aaronindustries.net
Statement of Unaudited Standalone Financial Results for the Half Year and Year ended 31st March, 2020
| (Amount in Rs.)Year ended | ||||||||
|---|---|---|---|---|---|---|---|---|
| 6 month ended | 31.03.2019 | |||||||
| Sr.No. | Particulars | 31.03.2020 | 30.09.2019 | 31.03.2019 | 31.03.2020 | Audited | ||
| Audited | Unaudited | Audited | Audited | |||||
| Ł | Income: | |||||||
| Revenue from operations | 116388211.74 | 97603725.09 | 92841641.47 | 213991936.83 | 175532426.16 | |||
| Other Income | 962943.53 | 132479.15 | 237899.40 | 1095422.68 | 344018.40175876444.56 | |||
| Total Revenue | 117351155.27 | 97736204.24 | 93079540.87 | 215087359.51 | ||||
| Ш. | Expenses: | 112776886.22 | ||||||
| Cost of materials consumed | 78685678.07 | 66505687.85 | 54272831.74 | 145191365.92 | ||||
| Purchase of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 1 | |||
| Changes in inventories of finished goods, work-in- | ||||||||
| progress and Stock-in-Trade - Increase (Decrease) | (3443965.20) | (3179310.80) | 6769091.71 | (6623276.00) | (1731022.00) | |||
| Employee Benefit Expense | 12413166.00 | 12235158.67 | 12954585.00 | 24648324.67 | 24818932.00 | |||
| Financial Costs | 2985925.08 | 2898403.55 | 1167312.00 | 5884328.63 | 2862723.572022918.00 | |||
| Depreciation and Amortization Expense | 2795696.95 | 2744965.05 | 1104279.79 | 5540662.00 | ||||
| Other Expenses | 9551745.92 | 10757852.21 | 8090623.60 | 20309598.13 | 19393955.77160144393.56 | |||
| Total Expenses | 102988246.82 | 91962756.53 | 84358723.84 | 194951003.35 | ||||
| Ш | Profit Before exceptional and extraordinary items | 14362908.45 | 5773447.71 | 8720817.03 | 20136356.16 | 15732051.00 | ||
| 0.00 | 0.00 | |||||||
| IV. | Exceptional Items | 0.00 | 0.00 | 0.00 | ||||
| 5773447.71 | 8720817.03 | 20136356.16 | 15732051.00 | |||||
| v | Profit Before extraordinary items and Tax (III-IV) | 14362908.45 | ||||||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| VI | Extraordinary Items | |||||||
| 14362908.45 | 5773447.71 | 8720817.03 | 20136356.16 | 15732051.00 | ||||
| VII Profit Before Tax (V-VI) | ||||||||
| VIII ITax expense: | ||||||||
| (1) Current tax | 2523190.00 | 837970.00 | 1107926.00 | 3361160.00 | 3238725.00 | |||
| (2) Deferred tax | 1690541.33 | 841637.75 | 1904257.58 | 2532179.08 | 1904257.58 | |||
| (3) Taxation of earlier year | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IX Profit(Loss) from the perid from continuing | 10149177.12 | 4093839.96 | 5708633.45 | 14243017.08 | 10589068.42 | |||
| X Profit/(Loss) from discontinuing operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| XI Tax expense of discountinung operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| XII $\boxed{\text{Profit}(\text{Loss})$ from discontinuing operations $(X - XI)$ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| XIII Profit/(Loss) for the period (IX-XII) | 10149177.12 | 4093839.96 | 5708633.45 | 14243017.08 | 10589068.42 | |||
| XIV Earning per equity share: | ||||||||
| (1) Basic | 1.93 | 0.78 | 1.21 | 2.71 | 2.24 | |||
| (2) Diluted | 1.93 | 0.78 | 1.21 | 2.71 | 2.24 | |||
For and on behalf of Board of Directors of Aaron Industries Limited
a. $\overline{m}$ Karan Doshi Whole-time Director DIN: 06690242
${\bf AARON}$ Industries Limited
(CIN-L31908GJ2013PLC077306)
REGD.OFFICE: B-65 & 66, Jawahar Road No. 4, Udhyog Nagar, Udhana, Surat -394210, Gujarat Tel:-0261-2278410, E-Mail:- [email protected], Website:- www.aaronindustries.net
Notes:
- The above results, for the half year and year ended 31st March, 2020 were reviewed by the Audit Committee and subsequently approved by the Board of Directors in their meeting held on Tuesday, 30th June, 2020, in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- 2 Considering the uncertainty relating to the COVID-19 pandemic in assessing the recoverability of Company's inventories, receivables and investments, the Company has considered internal and external information for finalization in relation to its financial statements upto the date of approval by the Board of Directors. The company has not identified any material impact on the carrying value of assets, liabilities or provisions, or on entity's operations as a part of going concern assessment. As the outbreak continues to evolve, the Company will continue to closely monitor any material changes to future economic conditions.
- 3 The above financials have been prepared in accordance with AS-25 Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 and other recognized Accounting practices and policies to the extent applicable.
- 4 In the calcualtion of current tax, the company has not opted for concessional tax rate u/s 115BAA of the Income Tax Act 1961 for the year 2019-20 but has availed set off of carried forward MAT credit.
- The figures of the Second half year ended on 31st march, 2020 are the balancing figure between the audited figures in respect of the 5 full financial year results upto 31st March, 2020 and the unaudited figures upto 30th September, 2019 which were subjected to limited
- 6 Previous period/vear figures have been re-grouped/re-classified wherevere required.
- 7 Earning per share have been calculated on the weighted average of the Share Capital outstanding during the period/year.
- 8 The Company is not having any subsidiary, associate or joint venture; therefore, it has prepared only standalone results as consolidation requirement is not applicable to the Company.
- The aforesaid Financial results will be uploaded on the Company's website (www.aaronindustries.net) and will also be available on 9 website of the National Stock Exchange of India Limited (www.nseindia.com).
- 10 The management is in process of identifying parties which are covered under MSME. The amount relating to MSME are disclosed to the extent identified.
$\mathbf{AARON}$ Industries Limited
REGD.OFFICE: B-65 & 66, Jawahar Road No. 4, Udhyog Nagar, Udhana, Surat -394210, Gujarat Tel:- 0261-2278410, E-Mail:- [email protected]. Website:- www.aaronindustries.net
| Statement of Standalone Assets and Liabilities | |
|---|---|
| (Amount in Rs.) | |||||
|---|---|---|---|---|---|
| As at year ended | As at year ended | ||||
| Particulars | 31.03.2020 | 31.03.2019 | |||
| Audited | Audited | ||||
| I. EQUITY AND LIABILITIES | |||||
| (1) Shareholders' Funds | 47828380.00 | ||||
| (a) Share Capital | 52611140.00 | 45903811.49 | |||
| (b) Reserves and Surplus | 55399113.57 | 0.00 | |||
| (c) Money received against share warrants | 0.00 | ||||
| (2) Share Application money pending allotment | 0.00 | 0.00 | |||
| (3) Non-Current Liabilities | |||||
| (a) Long-Term Borrowings | 26670722.62 | 35497492.20 | |||
| (b) Deferred Tax Liabilities (Net) | 4991155.39 | 2458976.31 | |||
| (c) Other Long Term Liabilities | 0.00 | 0.00 | |||
| (d) Long Term Provisions | 0.00 | 0.00 | |||
| (4) Current Liabilities | |||||
| (a) Short-Term Borrowings | 16516086.32 | 9023763.49 | |||
| (b) Trade Payables | 15530651.00 | 16091632.00 | |||
| (c) Other Current Liabilities | 19414241.78 | 18321426.03 | |||
| (d) Short-Term Provisions | 0.00 | 0.00 | |||
| Total Equity & Liabilities | 191133110.68 | 175125481.52 | |||
| II. ASSETS | |||||
| (1) Non-Current Assets | |||||
| (a) Fixed assets | 86796867.57 | ||||
| (i) Tangible assets | 92685017.03 | 265473.00 | |||
| (ii) Intangible assets | 247670.00 | ||||
| (iii) Capital work in progress | 3574419.00 | 0.00 | |||
| (b) Deferred tax assets (net) | 0.00 | 0.00 | |||
| (c) Long term loans and advances | 2374437.30 | 3136744.00 | |||
| (d) Non-current investments | 2217809.23 | 410984.00 | |||
| (2) Current Assets | |||||
| (a) Inventories | 55653400.00 | 45950120.00 | |||
| (b) Trade receivables | 25106411.75 | 18432834.75 | |||
| (c) Cash and Bank Balances | 1450126.00 | 3840205.22 | |||
| (d) Short-term loans and advances | 495365.00 | 417581.00 | |||
| (e) Other current assets | 7328455.37 | 15874671.98 | |||
| Total Assets | 191133110.68 | 175125481.52 | |||
| For and on behalf of Board of Directors of | |||||
| Aaron Industries Limited | |||||
| Karan Doshi |
Whole-time Director DIN: 06690242
SUKA
AARON Industries Limited
(CIN-L31908GJ2013PLC077306)
REGD.OFFICE: B-65 & 66, Jawahar Road No. 4, Udhyog Nagar, Udhana, Surat -394210, Gujarat Tel:- 0261-2278410, E-Mail:- [email protected], Website:- www.aaronindustries.net
| Year ended | (Amount in Rs.) | ||||
|---|---|---|---|---|---|
| Particulars | AuditedAudited | ||||
| 31.03.2020 | 31.03.2019 | ||||
| Cash Flow from Operating Activities | |||||
| Net Profit Before Tax | 20136356.16 | 15732051.00 | |||
| Add: | Depreciation | 5540662.00 | 2022918.00 | ||
| Interest/Dividend | 5884328.63 | 2862723.57 | |||
| 31561346.79 | 20617692.57 | ||||
| Less: | Investment Income | 1095422.68 | 344018.40 | ||
| Operating Profit before Working Capital Changes | 30465924.11 | 20273674.17 | |||
| Adjustment for Working Capital Changes | |||||
| Cash Inflow | |||||
| Increase in Other Current Liabilities | 0.00 | 13532078.27 | |||
| 0.00 | 13532078.27 | ||||
| Cash Outflow | |||||
| Decrease in Trade Payable | 560981.00 | 2295845.00 | |||
| Decrease in Short Term provisions | -1092815.75 | 568394.00 | |||
| Decrease in Other Current Liabilities | 0.009703280.00 | 0.00 | |||
| Increase in Inventories | 6673577.00 | 12844940.002845732.00 | |||
| Increase in Trade & Other Receivable | -8546216.61 | 10618341.19 | |||
| Increase in Other Current assets | 7298805.64 | 29173252.19 | |||
| 23167118.47 | 4632500.25 | ||||
| Interest Paid | Cash From Operations | 5884328.63 | 2862723.57 | ||
| Direct Taxes Paid | 3361160.00 | 3238725.00 | |||
| 9245488.63 | 6101448.57 | ||||
| Net Cash Flow from Operating Activities | А | 13921629.84 | -1468948.32 | ||
| Cash Flow from Investing Activities | |||||
| Net Purchases of Fixed Assets | -14985427.46 | -74606676.64) | |||
| Increase in Other Non Current Investments | -1806825.23 | -410984.00 | |||
| Increase in Long term Loans & Advances | 762306.70 | -2606744.00 | |||
| Increase in Short term Loans & Advances | -77784.00 | 149394.00 | |||
| Cash Inflow Interest Income | 1095422.68 | 344018.40 | |||
| Net Cash Used in Investing Activities | в | -15012307.31 | -77130992.24 | ||
| Cash Flow from financing Activities | |||||
| Cash inflow increase/(decrease) in Long Term Borrowings | -8826769.58 | 31188589.83 | |||
| Cash inflow from Increase/(decrease) in Short Term Borrowing | 7492322.83 | 3398704.95 | |||
| Cash flow from issue of share capital | 0.00 | 29023910.00 | |||
| Increase in Reserve & Surplus | 35045.00 | 18742090.00 | |||
| Net Cash inflow from Financing Activities | c | -1299401.75 | 82353294.78 | ||
| Net Cash Changes | -2390079.22 | 3753354.22 | |||
| Cash and Bank Opening | 3840205.22 | 86851.00 | |||
| Cash and Bank Closing | 1450126.00 | 3840205.22 |
Aaron Industries Limited
Karan Doshi Whole-time Director DIN: 06690242
AARON Industries Limited
(CIN-L31908GJ2013PLC077306)
REGD.OFFICE: B-65 & 66, Jawahar Road No. 4, Udhyog Nagar, Udhana, Surat -394210, Gujarat Tel:- 0261-2278410, E-Mail:- [email protected], Website:- www.aaronindustries.net
Segment wise Revenue, Results and Capital Employed
| (Amount in Rs.) | |||||||
|---|---|---|---|---|---|---|---|
| Sr. | 6 month ended | Year ended | |||||
| No. | Particulars | 31.03.2020 | 30.09.2019 | 31.03.2019 | 31.03.2020 | 31.03.2019 | |
| Audited | Unaudited | Audited | Audited | Audited | |||
| 1 | Segment Revenue | ||||||
| (1) Elevator Division | 94213426.62 | 89457898.09 | 80858358.15 | 183671324.71 | 149350132.00 | ||
| (2) Electrical Division | 7405577.26 | 6515771.00 | 11882232.52 | 13921348.26 | 26081244.00 | ||
| (3) Steel Polishing Division | 14769207.86 | 1630056.00 | 101050.80 | 16399263.86 | 101051.00 | ||
| (4) Unallocated | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Total | 116388211.74 | 97603725.09 | 92841641.47 | 213991936.83 | 175532427.00 | ||
| Less: Inter Segment Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Net Sales from Operations | 116388211.74 | 97603725.09 | 92841641.47 | 213991936.83 | 175532427.00 | ||
| $\overline{2}$ | (Profit Before Tax and Interest) | ||||||
| (1) Elevator Division | 52129731.13 | 17585806.85 | 17624597.68 | 69715537.98 | 72669885.00 | ||
| (2) Electrical Division | 3887625.46 | 2801217.76 | 2891025.90 | 6688843.22 | 11406079.00 | ||
| (3) Steel Polishing Division | -16006561.98 | -10926785.55 | -1450087.80 | -26933347.53 | -1668801.00 | ||
| (4) Unallocated | -23934845.13 | -943891.00 | -9390943.21 | -24878736.13 | -64890245.00 | ||
| Total | 16075949.48 | 8516348.06 | 9674592.21 | 24592297.54 | 17516918.00 | ||
| Less: | |||||||
| (a) Interest | |||||||
| (1) Elevator Division | 40738.94 | 92725.74 | 148471.38 | 133464.68 | 148472.00 | ||
| (2) Electrical Division | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| (3) Steel Polishing Division | 1820720.14 | 1585061.31 | 429888.41 | 3405781.45 | 493861.00 | ||
| (4) Unallocated | 807891.77 | 1065113.16 | 375415.75 | 1873004.93 | 1434716.00 | ||
| (b) Other Un-allocable Expenditure net off | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Add:(c) Un-allocable income | 956309.68 | 0.00 | 0.00 | 956309.68 | 292182.00 | ||
| Total Profit Before Tax | 14362908.31 | 5773447.85 | 8720816.67 | 20136356.16 | 15732051.00 | ||
| 3 | (Segment assets - Segment Liabilities) | 108010253.57 | 97826031.45 | 79851921.52 | 108010253.57 | 93732192.00 | |
| Segment Assets | |||||||
| (1) Elevator Division | 55947745.09 | 52470572.34 | 58006060.07 | 55947745.09 | 56822677.00 | ||
| (2) Electrical Division | 5619351.16 | 5559140.00 | 7185628.00 | 5619351.16 | 7102681.0086098476.00 | ||
| (3) Steel Polishing Division | 102659721.75 | 98022923.60 | 89478399.00 | 102659721.75 | |||
| (4) Unallocated | 26906292.68 | 32987641.26 | 6566124.48 | 26906292.68 | 25101648.00 | ||
| Total | 191133110.68 | 189040277.20 | 161236211.55 | 191133110.68 | 175125482.00 | ||
| Segment Liabilities | 13940576.00 | ||||||
| (1) Elevator Division | 13376412.00 | 18310005.28 | 13940576.01 | 13376412.00 | 280685.00 | ||
| (2) Electrical Division | 634954.00 | 2200354.42 | 280685.00 | 634954.0040497784.68 | 40135764.00 | ||
| (3) Steel Polishing Division | 40497784.68 | 40705686.84 | 40135764.2327027264.79 | 28613706.43 | 27036265.00 | ||
| (4) Unallocated | 28613706.43 | 29998199.21 | 83122857.11 | 81393290.00 | |||
| Total | 83122857.11 | 91214245.75 | 81384290.03 |
Note:
Stainless Steel Polishing and Finishing division also has done internal jobwork for Elevator division at Udhana. As the inter-segment $\mathbf{1}$ transfer of semifinished goods from Stainless Steel Division to Elevator division is done on challan basis and not yet properly measured, the same is not included in the segment reporting as inter-segment revenue.
For and on behalf of Board of Directors of Aaron Industries Limited
Karan Doshi Whole-time Director DIN: 06690242