ABC India Ltd. — Annual Report 2020

Jul 30, 2020

aE" 40/8, BALLYGUNGE CIRCULAR ROAD, KOLKATA - 700 019 = ABC PHONE : (033) 2461 4156/4157, FAX : 91-33-24614193 —— = E-MAIL : cmd@abcindia.com, HOME PAGE : www.abcindia.com =

	= ABC aE"
40/8, BALLYGUNGE CIRCULAR ROAD, KOLKATA - 700 019 PHONE : (033) 2461 4156/4157, FAX : 91-33-24614193 E-MAIL : cmd@abcindia.com, HOME PAGE : www.abcindia.com	—— = = INDIA LIMITED
	Moving made simple
Date: 30 July, 2020 =
\ -The Secretary, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street Mumbai — 400 001 Code — 520123	The Secretary, The Calcutta Stock Exchange Ltd., 7, Lyons Range, Kolkata- 700 001 Code No.- 10011146

Dear Sir(s),

Reg: Outcome of Board Meeting held on 30" July, 2020

With reference to our letter dated 22" July, 2020, the Board of Directors of the Company in its meeting held on date i.e. 30 July, 2020 has, inter alia, transacted the following business:

• i. Reviewed and approved the Standalone Audited Financial Results of the Company for the quarter and year ended on 31% March, 2020 and have taken note of the Audit Report as issued by the Statutory Auditors on the aforesaid results and pursuant to regulation 30(6) and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a copy of the same is enclosed along with declaration with respect to un-modified opinion in audit reports of the Statutory Auditors as Annexure-l.
• Reviewed and approved the Standalone Audited Annual Accounts for the financial year ended on 31* March, 2020.
• Re-appointment of Mr. Ashish Agarwal (DIN: 00351824) as Managing Director of the Company for a period of 3 (Three) years with effect from 1* August; 2020, subject to approval of the members in the ensuing Annual General Meeting of the Company. The aforesaid Director is not debarred from holding of office of Directors pursuant to any order of Securities Exchange Board of India.

Brief profile for director being re-appointed is enclosed herewith as Annexure-ll.

Fixed the date, venue and approved the notice of the 47 Annual General Meeting (AGM) of the Company for the F.Y 2019-20 to be held on 25% September, 2020.

REGD. OFFICE : P-10, NEW C.I.T. ROAD, KOLKATA - 700 073 CIN : L63011WB1972PLC217415, Ph. : 033 2237 1745, 2461 4156, Fax : 033 2461 4193, E-mail : vrmd@abcindia.com, Web : www.abcindia.com 40/8, BALLYGUNGE CIRCULAR ROAD, KOLKATA - 700019 —_—— PHONE : (033) 2461 4156 / 4157, FAX : 91-33-24614193 — E-MAIL -MAIL : : cmd@abcindia.com, cmd beindio. HOME PAGE : : www.abcindia.com -abcindia. = 7INDIA LIMITED

1. Approved the Directors' Report along with all its annexure of the Company for the Financial Year 2019-20.

2. Fixed the date for closure of Register of Members & Share Transfer Books from 19"" September, 2020 to 25" September, 2020 (both days inclusive) for the purpose of Annual General Meeting of the Company for the Financial Year 2019-20 pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The cut-off date fixed for the purpose of determining the members entitled for e-voting in the Annual General Meeting is Friday, 18th September, 2020.

Please note that the meeting commenced at 3.30 P.M. and concluded at 4:45 P.M.

This may please be informed to the members of your Stock Exchange(s).

Please acknowledge the receipt of the above.

Thanking You,

Yours faithfully, For ABC India Limited DISS

Ss ong a acwed

Sanjay Agarwal Company Secretary

Encl: As Above

		FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020				₹ In Lakhs)
			Quarter Ended		Year ended
	PARTICULARS	31.03.2020 (Audited)	(Unaudited) 31.12.2019	31.03.2019 (Audited)	31.03.2020 (Audited)	31.03.2019 (Audited)
$ =$	Revenue from operations Other Income	14.06 2,330.21	6,988.18 27.27	6,378.25 24.42	22,072.78 57.91	17,699.46 52.59
$\equiv$	Total Income $(I + II)$	2,344.26	7,015.45	6,402.67	22,130.70	17,752.05
N.	(b) Changes in inventories of finished goods, by-products (a) Purchase of stock-in-Trade Expenses	1,143.23	1,212.24	1,434.61	5,217.99	6,221.02
	Expenditure relating to transportation and services and work-in-progress $\odot$	3.18 426.39	10.56 5,084.41	(24.84) 3,647.77	12.29 13,846.67	(14.49) 8,226.49
	(e) Employee benefits expense Cost of construction $\widehat{\sigma}$	1.00	3.82	21.98	10.44	244.74
	(f) Finance Costs	225.15 104.22	192.10 97.00	132.10 201.20	805.72 348.67	369.15 782.64
	(g) Depreciation and amortisation expenses (h) Other Expenses	75.35 523.33	18.28 267.97	22.79 728.24	129.70 1,352.73	90.09 1,408.58
	Total Expenses	2,501.85	6,886.37	6,163.86	21,724.20	17,328.21
2	$\sum$ Profit/(loss) before exceptional Items and tax (III	(157.58)	129.07	238.82	406.49	423.83
$\overline{z}$	Exceptional Items	4.33	(1.42)	80.81	2.92	76.62
Ξ.	Profit/ (loss) before tax (V + VI)	(153.25)	127.66	319.63	409.41	500.46
ξĒ.	(b) Deferred Tax (a) Current Tax Tax Expenses			(19.46)		17.77
×.	Net Profit for the period (VII - VIII)	(17.18) (136.06)	$\mathbf{I}$ 127.66	(91.97) 431.06	(17.18) 426.59	(91.97) 574.66
$\dot{\times}$	I. Items that will not be reclassified to Profit or Loss B. I. Items that will be reclassified to Profit or Loss Other Comprehensive Income (net of tax) Æ	0.38		(14.98)	0.38	(14.98)
$\overline{\mathsf{x}}$	Total Comprehensive income (Net of tax) (IX + X)	(135.68)	127.66	416.08	426.98	559.67
$\equiv$ хıі.	Earning per Share (of Rs. 10/- each) (not annualised) Paid-up Equity Share Capital of Rs. 10/-each	541.72	541.72	541.72	541.72	541.72
	a) Basic $\Omega$	$(251)$ $(251)$	2.36	7.96 7.96	7.87 7.87	10.61 10.61
	g Accounts			$\ln \frac{ \mathcal{L}_H }{ \mathcal{L}_H }$

$\frac{p}{\sqrt{2}}$

Annexure-1

ASSETS
Non-current assets
a) Property, plant and equipment b) Intangible Assets	1,223.00 0.94
c) Right to use Assets
d) Financial assets (i) Investments	355.64
(ii) Other Financial Assets	107.30
e) Deferred tax assets f) Other non-current assets	46.95
Sub total- Non-current assets	1,733.83
Current assets
a) Inventories b) Financial assets	56.74
(i) Investments	709.96
(ii) Trade and other receivables (iii) Cash and cash equivalents	3,783.42 154.54
(iv) Bank balances other than cash and cash equivalents	104.11
(v) Loans (vi) Other financial assets	114.80 710.42
c) Current tax assets (net); d) Other current assets	394.94
+) Sub total- Current assets -	349.57 6,378.50
TOTAL- ASSETS	8,112.33
EQUITY AND LIABILITIES
Equity a) Equity share capital
b) Other equity	541.23 2,401.54
Sub total- Equity	2,942.77
Liabilities
Non-current liabilities a) Financial liabilities
(i) Borrowings	237.78
(ii) Lease Liability (iii) Other financial liabilities	0.61
b) Provisions c) Deferred tax liabilities (net)	142.42
d) Other non-current liabilities	77.07 157.66
Sub total- Non-current liabilities	615.54
Current liabilities
a) Financial liabilities (i) Borrowings	961.64
(ii) Lease Liability (ili) Trade and other payables
(iv) Other financial liabilities	1,717.23 724.44
b) Other current liabilities c) Provisions	1,146.71
Sub total- Current liabilities	4.01 4,554.03
TOTAL- LIABILITIES]	8,112.33

pon

eae deci teres ee oe

50,045,815 9,008,612 (5,351,700) (110,000) 36,915,045 (25,654) 2,380,713 (7,661,585) (65,460) (267,748) 42,338,591 127,206,629
(166,390,767) (64,131)
158,335,880 119,087,611
6,421,723 125,509,335
(4,980,128)
18,447,654
(6,059,000) (44,295,909)
(1,365,032)
3,548,760
110,000
(34,593,656)
(25,397,099)
(34,090,213)
36,796,898) (96,284,210)
(5,368,532) 31,217,548
25,849,016
15,453,590 10,411,337
15,911) 25,849,016
As breakup of Cash and cash equivalents is also available in Note no. 11, reconciliation of items of Cash and cash equivalents as per Cash

a) Cash and cash equivalents (Refer note no, 11)	15,453,590
b) Bank balance other than cash and cash equivalents (Refer note no. 12)	10,411,337
ic) Book overdraft (Refer note sb 20 (ii)	15,911)
a 'Total	25,849,016

vod

100000000000000000000000000000000000000
WELFARE CONTINUES.
ABC INDIA LIMITED
CIN-L63011WB1972PLC217415
		Email : vrmd@abcindia.com ; Website : www.abcindia.com
The County of the County of
	REGD. OFF : P-10 NEW C.I.T ROAD, KOLKATA - 700 073, Phone: (033) 22371745/24614156, FAX: (033) 24614197

				STATEMENT OF AUDITED SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020
						$($ $\bar{\zeta}$ In Lakhs)
			Quarter Ended		Year ended
	PARTICULARS	31.03.2020 (Audited)	(Unaudited) 31.12.2019	31.03.2019 (Audited)	31.03.2020 (Audited)	31.03.2019 (Audited)
$\overline{ }$	Segment Revenue (Net Sale / Income from each segment)
	a) Freight & Services	1,161.90	5,719.01	4,986.09	16,678.71	11,216.77
	b) Petrol Pump	1,164.59	1,262.99	1,437.83	5,383.84	6,373.42
	c) Construction	3.72	6.18	(45.65)	10.23	109.27
	d) Unallocated
	Total	2,330.22	6,988.18	6,378.26	22,072.78	17,699.46
	Less: Inter Segment Revenue
	Revenue from operations	2,330.22	6,988.18	6,378.26	22,072.78	17,699.46
2	Segment Results - Profit /(Loss) before tax, finance costs :
	a) Freight & Services	(182.09)	531.85	495.74	1,118.71	1,260.62
	b) Petrol Pump	11.97	12.70	15.55	53.41	64.83
	c) Construction	(6.41)	(6.32)	(83.20)	(37.12)	235.67
	Total	176.53	538.23	428.09	1,134.99	1,089.78
	i) Finance costs Less	104.22	97.00	132.10	348.67	369.15
	ii) Other unallocable expenditure net off Unallocable income	127.50	313.57	(23.64)	376.91	220.17
	Profit /(Loss) before tax	(153.25)	127.66	319.62	409.41	500.47
3	Segment Assets
	a) Freight & Services	6,323.90	10,545.47	5,475.64	6,323.90	5,475.64
	b) Petrol Pump	263.12	245.67	249.39	263.12	249.39
	修 c) Construction	355.77	368.52	366.07	355.77	366.07
	(d) Unallocated	2,358.93	2,215.90	2.021.23	2,358.93	2.021.23
	Total	9,301.72	13,375.55	8,112.33	9,301.72	8,112.33
	Segment Liabilities
	a) Freight & Services	3,435.89	6,730.94	2,194.83	3,435.89	2,194.83
	b) Petrol Pump	249.45	191.98	232.05	249.45	232.05
	c) Construction	196.56	208.80	225.30	196.56	225.30
	(d) Unallocated	937.48	993.95	723.72	937.48	723.72
	Total	4,819.38	8,125.66	3,375.89	4,819.38	3,375.89

eyKomzy

otes: 1) |The above audited financial results have been reviewed by the Audit Committee and thereafter the Board of Directors have approved the above results at their respective meetings held on 30th July, 2020. 2) |The figures for the quarter ended 31/03/2020 and corresponding quarter ended 31/03/2019 are the balancing figures between the audited figures in respect of the full financial year and the year to date figures upto the quarter of the respective financial year. ³The Company carries out its business in three segments viz., Freight & Services , Petrol Pump and Construction. ⁴Other Expenses include Bad Debts written off during the 4th quarter amounting to Rs 2.27 Crores which corresponds to logistics contracts concluded prior to FY 2016-17. ⁵The figures of previous periods / year has been regrouped / reclassified wherever necessary to make them comparable with those of the current period / year. For and on behalf of the Board of Directors of

Place of Signature : Kolkata Date: 30th July, 2020

Vijay Kumar Jain Director DIN: 00491871

ABC India Limited

Auditor's Report on Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To The Board of Directors ABC India Limited

Opinion

We have audited the accompanying Statement of Financial Results of ABC India Limited ("the Company") for the year ended March 31, 2020 (the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, these Financial Results for the year ended March 31, 2020:

• a. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• b. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the year then ended.

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 Audit of the Financial Results for the year ended March 31, 2020, 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 (ICAI) together with the ethical requirements that are relevant to our audit of the Financial Results for the year ended March 31, 2020 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basisfor our opinion.

Management's Responsibilities for the Financial Results

This Statement, which includes the Financial Results is the responsibility of the Company's Board of Directors, and has been approved by them for the issuance. The Statement has been compiled from the related audited financial statements for the year ended March 31, 2020, and interim financial information for the quarter ended March 31, 2020 being the balancing figure between audited figures in respect of the full financial year and the audited year to date figures up to the third quarter of the current financial year. This responsibility includes the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 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 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 the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Statement, 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 financial reporting process of the Company.

Auditor's Responsibilities for the Audit of Financial Results for the year ended March 31, ²⁰²⁰

Our objectives are to obtain reasonable assurance about whether the financial results for the year ended March 31, 2020 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. * 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 Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system 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.
• ¢ Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing regulations
• ° Conclude on the appropriateness of management's 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.
• ^eEvaluate 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.
• ^eObtain sufficient appropriate audit evidence regarding the Financial Results of the Company to express an opinion on the Financial Results,

Materiality is the magnitude of misstatements in the financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial results 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 misstatements in the financial results.

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.

Other Matter

* The Statement includes the results for the Quarter ended March 31, 2020 being the balancing figure between audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year.

ForBDS & Co. Chartered Accountants Firm Registration No. 326264E

Afvorad [sau

(Bharat D Sarawgee) Partner < Membership No.: 061505 ACE

Place: Kolkata Date: 30" day of July, 2020 UDIN: 20061505AAAAGNI1792

Date: 30.07.2020

e Secretary, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai — 400 001. Code — 520123

The Secretary, The Calcutta Stock Exchange Ltd., 7, Lyons Range, Kolkata- 700 001

Code No.- 10011146

Reg:- Declaration with respect to Standalone Audit Report with un-modified opinion

Pursuant to Regulation 33(3)(d) of the Securities & Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016 we hereby declare that M/s. BD S & CO. ( Formerly Bharat D. Sarawgee & Co.) Chartered Accountants, Statutory Auditors of the Company have not expressed any modified opinion(s) on the Audited Financial Results for the Financial year ended on 31° March, 2020.

Kindly take the above information on record.

Thanking You,

Yours faithfully,

For ABC India Ltd.

Ss any oer Ag tard ithe

SANJAY AGARWAL Chief Financial Officer

REGD. OFFICE : P-10, NEW C.I.T. ROAD, KOLKATA - 700 073

CIN : L63011WB1972PLC217415, Ph. : 033 2237 1745, 2461 4156, Fax : 033 2461 4193, E-mail : vrmd@abcindia.com, Web : www.abcindia.com

Annexure-ll

Brief Profile of Mr. Ashish Agarwal is as follows:

Mr. Ashish Agarwal (DIN: 00351824), aged about 41 years and is the Managing Director of the Company.

He had graduated from Columbia University with a B.A. in Economics and has achieved a landmark in the Transport Sector. He has rich experience in the Management and Administration of Company's business.

Presently, he looks after Management & Administration of the affairs of the Company.

Inter se relationship with other Directors:

No relationship with other Directors of the Company i.e. ABC India Limited.