ABC India Ltd. — Annual Report 2023

May 26, 2023

Date: 26™ May, 2023

/Tfie Secretary,	The Secretary,
BSE Limited,	The Calcutta Stock Exchange Ltd.,
Phiroze Jeejeebhoy Towers,	7, Lyons Range,
Dalal Street	Kolkata- 700 001
Mumbai — 400 001	Code No.- 10011146
Code — 520123

Dear Sir(s),

Reg: Outcome of Board Meeting held on 26™ May, 2023

With reference to our letter dated 19" May, 2023, the Board of Directors of the Company in its meeting held on date i.e. 26" May, 2023 has, inter alia, transacted the following business:

• 1. Reviewed and approved the Standalone Audited Financial Results of the Company for the quarter and year ended on 31% March, 2023 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-1.
• 1. Reviewed and approved the Standalone Audited Annual Accounts for the financial year ended on 31% March, 2023.
• 1. Recommended a dividend of 5% (X0.50 per share) on the Paid-Up value of X 10/- per share.
• 1. 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; 2023, 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-II. Please note that the meeting commenced at 5.45 P.M. and concluded at 6:30 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

Sanjay Agarwal Company Secretary

Encl: As Above

ABC INDIA LIMITED CIN-L63011WB1972PLC217415 REGD. OFF: P-10 NEW C.I.T ROAD, KOLKATA - 700 073, Phone: (033) 22371745/24614156, FAX: (033) 24614193 Email: vrmd@abcindia.com; Website: www.abcindia.com STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2023

	(₹) In Lakhs)
			Quarter ended			Year Ended
	PARTICULARS	31.03.2023 (Audited)	31.12.2022 (Unaudited)	31.03.2022 (Audited)	31.03.2023 (Audited)	31.03.2022 (Audited)
	Revenue from operations	3,700.11	3,481.10	3.694.94	14,517.19	13.477.46
ĮH. III.	Other Income Total Income $(I + II)$	25.65 3,725.76	14.79 3,495.89	17.82 3,712.76	72.13 14,589.32	69.68 13,547.1
IV.	Expenses (a) Purchase of stock-in-Trade (b) Changes in inventories of finished goods, by-products	1,543.60	1,600.15	1,406.21	6,680.62	5,090.12
	and work-in-progress	(18.29)	(7.38)	(7.84)	(2.85)	(16.52)
	(c) Expenditure relating to transportation and services	1,645.71	1,432.00	1,851.62	5.991.40	6,497.06
	(d) Employee benefits expense (e) Finance Costs	187.73 59.78	178.00 56.68	206.59 47.23	744.57 210.33	761.74 214.49
	(f) Depreciation and amortisation expenses	32.25	30.54	26.82	114.48	105.92
	(g) Other Expenses	193.98	165.16	117.76	627.68	606.86
	Total Expenses	3.644.76	3,455.14	3,648.39	14,366.23	13,259.67
I۷.	Profit/(loss) before exceptional Items and tax (III - IV)	81.01	40.76	64.37	223.09	287.48
IVI.	Exceptional Items	96.13	19.50	(124.39)	183.80	(2.05)
VII.	Profit/ (loss) before tax (V + VI)	177.14	60.26	(60.03)	406.89	285.39
	VIII. Tax Expenses (a) Current Tax (b) Deferred Tax	(11.17) (7.72)		15.00 (3.03)	(11.17) (7.72)	15.00 (3.03)
IIX.	Net Profit for the period (VII - VIII)	196.04	60.26	(72.00)	425.79	273.42
Ix.	Other Comprehensive Income (net of tax) A. I. Items that will not be reclassified to Profit or Loss B. I. Items that will be reclassified to Profit or Loss	17.62		50.70	17.62	50.70
XI.	Total Comprehensive income (Net of tax) $(IX + X)$	213.66	60.26	(21.29)	443.41	324.12
XII.	Paid-up Equity Share Capital of Rs. 10/- each XIII. Earning per Share (of Rs.10/- each) (not annualised):	541.72	541.72	541.72	541.72	541.72
	a) Basic b) Diluted	3.62 3.62	1.11 1.11	(1.33) (1.33)	7.86 7.86	5.05 5.05

CIN-L63011WB1972PLC217415 REGD. OFF: P-10 NEW C.I.T ROAD, KOLKATA - 700 073, Phone: (033) 22371745/24614156, FAX: (033) 24614193 Email: vrmd@abcindia.com ; Website : www.abcindia.com

ABC INDIA LIMITED

STATEMENT OF AUDITED SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2023

	(₹)In Lakhs)
		Quarter Ended			Year ended	Year Ended
	PARTICULARS	31.03.2023 (Audited)	31.12.2022 (Unaudited)	31.03.2022 (Audited)	31.03.2023 (Audited)	31.03.2022 (Audited)
	Segment Revenue (Net Sale / Income from each segment)
	a) Freight & Services	2.129.96	1,844.67	2,258.20	7,655.51	8,253.67
	b) Petrol Pump	1,570.15	1,636.43	1,436.73	6,861.68	5,223.79
	Total	3,700.11	3,481.10	3,694.93	14,517.19	13,477.46
	Less: Inter Segment Revenue
	Revenue from operations	3,700.11	3,481.10	3,694.93	14,517.19	13,477.46
	Segment Results - Profit /(Loss) before tax, finance costs :
	a) Freight & Services	258.06	222.94	303.01	881.67	926.76
	b) Petrol Pump	5.66	11.43	6.92	42.61	38.30
	Total	263.72	234.37	309.93	924.28	965.06
	Less i) Finance costs	59.78	56.68	47.24	210.33	214.49
	Unallocated expenditure net off income	26.80	117.43	322.73	307.05	465.20
	Profit /(Loss) before tax	177.14	60.26	(60.03)	406.89	285.39
3	Segment Assets
	a) Freight & Services	5,216.53	5,392.80	5,518.32	5,216.53	5,518.32
	b) Petrol Pump	291.25	300.71	257.88	291.25	257.88
	(c) Unallocated	3,284.85	3,123.99	2.888.32	3,284.85	2,888.32
	Total	8,792.63	8,817.50	8,664.51	8,792.63	8,664.51
	Segment Liabilities
	a) Freight & Services	2,710.06	2,650.08	3,165.57	2,710.06	3,165.57
	b) Petrol Pump	294.57	302.26	220.97	294.57	220.97
	(c) Unallocated	1,631.62	2,958.56	1,215.30	1,631.62	1,215.30
	Total	4,636.24	5,910.89	4,601.84	4,636.24	4,601.84

ABC INDIA LIMITED
CIN- L63011WB1872PLC217415
REGD. OFF : P-10 NEW C.I.T ROAD, KOLKATA - 700 073, Phone: (033) 22371745/24614156, FAX: (033) 24614193
Email : vrmd@abcindia.com : Website : www.abcindia.com
Statement of Audited Assets and Liabilities as at 31st March.2023
		() In Lakhs)
	As at	As at
Particulars	31.03.2023	31.03.2022
ASSETS	(Audited)	(Audited)
Non-current assets
a) Property, plant and equipment	478.91	720.67
b) Intangible Assets	0.26	1.29
c) Right to use Assets	170.26	93.56
) Financial assets
(i) Investments	931.36	836.55
(ii) Other Financial Assets	177.31	161.90
€) Deferred tax assets ) Other non-current assets	- 8.93	- 46.95
Sub total- Non-current assets	1,767.04	T.860.91
Current assets
a) Inventories	88.61	85.77
b) Financial assets (i) Investments	147727	1,334.95
(ii) Trade and other receivables	3,054.76	3097.12
(i) Cash and cash equivalents	267.12	15263
(iv) Bank balances other than cash and cash equivalents	0.00	0.04
(v) Loans	68.47	73.44
(vi) Other financial assets <) Current tax assets (net)	1,653.33 191.15	1,594.73 242.39
d) Other current assets	224.87	222 53
Sub total- Current assets	7.025.58	6,803.60
TOTAL- ASSETS	8.792.63	8.664.51
EQUITY AND LIABILITIES
Equity
) Equity share capital	541.23	541.23
b) Other equity Sub total- Equity	361515	3.198.83
	4,156,38	3,740.06
Liabllities
Non-current ies
2) Financial liabilties
(i) Borrowings	504.84	604.89
(ii) Lease Liability	81.57	113
(iii) Other financial liabilities b) Provisions	0.94 111.88	0.84 110.27
c) Deferred tax liabilities (net)	7232	80.04
d) Other non-current liabilities	81.64	86.85
Sub total- Non-current liabilities	853.20	884.03
Current liabilities
a) Financial liabilities
(i) Borrowings	1,442.06	1,214.95
(ii) Lease Liability	46.61	2114
(iii) Trade and other payables	1,779.61	2,158.86
(iv) Othter financial liabilities	95.80	91.51
b) Other current liabilities c) Provisions	366.78 52.19	519.02 34.94
Sub total- Current liabilities	3,783.05	4,040.42
TOTAL- LIABILITIES]	8,792.63	8,664.51

ABC INDIA LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH, 2023

	Particulars	31 March 2023 ® (Audited)	For the year ended [ For the year ended 31 March 2022 ® (Audited)
A.	(CASH FLOWS FROM OPERATING ACTIVITIES
	Profit before Tax	4,06,89,289	2,85,38,825
	Adjustments for
	Depreciation and Amortisation Expense	1,14,47,985	1,05,92,461
	Interest Income	(69,38,081)	(53,67,847)
	Dividend Income	(1,65,000)	(82,500)
	Finance cost	2,10,32,833	2,14,48,527
	Leave Encashment	(212,563)	5,04,031
	Gratuity paid	(2,39,725)	(10,04,635)
	(Profit) /Loss on sale of assets (Profit)/ Loss from Partnership firm	(1,78,41,366)	2,08,731
		(1,10,044)	(88,484)
	Liabilities no longer required written back Bad Debts, Advances, etc. written off	-	(19,56,277) 84,251
	Operating profit before working capital changes	- 1,76,63,328	5,28,77,083
	Adjustments for Changes in Working Capital:
	Trade receivables, loan and advances and other assets	(13,60,887)	17,37,44,713
	Inventories	(2,84,687)	(16,51,770)
	Trade payables, other liabilities and provisions	(5,29,65,773)	(23,44,57,892)
	Cash generated from operations	(69,48,019)	(94,87,866)
	Direct Taxes paid (net of Refunds)	72,13,826	(1,62,33,372)
	Net Cash Flows (Used in) Operating Activities	2,65,807	(2,57,21,238)
B.	CASH FLOWS FROM INVESTING ACTIVITIES
	Purchases of property, plant and equipment, intangible assets	(50,43,607)	(19.47,452)
	Sales of property, plant and equipment	4,30,17,317	3,19,42211
	Purchase of Non-current investment	(5,00,000)	(10,00,010),
	Capital (Deposit) / Withdrawn from Partnership firm	(1,41,22,000)	33,20,000
	Proceeds upon maturity of Fixed Deposits with Banks	(15,41,873)	26,32,881
	Capital Expenditure on fixed assets, including capital advances Refund of capital Advance	38,01,600	=
	Investment in Fixed Deposits with Banks	-	=
	Interest received	8,23,464	721,527
	In) Dividend received	1,65,000	82,500
	Net Cash Flows (Used / From Investing Acti	2,65,99,901	3,57,51,657

ABC INDIA LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH, 2023

	Particulars	31 March 2023 ® (Audited)	For the year ended For the year ended 31 March 2022 ® (Audited)
Notes 1.	(CASH FLOWS FROM FINANCING ACTIVITIES Repayment of short term borrowings (Net) Payment of Leases & Adjustment Repayment of long term borrowings (Net) Payment of dividend Finance Cost Net Cash Flows From / (Used In) Financing Activities Net Changes in Cash and Cash Equivalents (A)+(B)+(C) Cash and Cash Equivalents as at 1 April Round off Cash and Cash Equivalents as at 31st March 2023 The above Cash Flow Statement has been prepared under the "Indirect Method" as set out in	2,27,10,904 (53,69,850) (1,00,04,310) (27,08,616)) (2,00,43,804) (1,54,15,766) 1,14,49,942 1,52,62,065 2,67,12,007	1,25,60,272 (40,47,325) 28,50,136 (27,08,616)) (2,10,55,913) (1,24,01,446)) (23,71,026) 1,76,33,092 1,52,62,066
2. 3.	the Indian Accounting Standard (Ind AS-7) on Statement of Cash flows. Cash and cash equivalents do not include any amount which is not available to the Company for its use. Cash and cash equivalents as at the Balance sheet date consists of :
	Particulars	31 March 2023 ® (Audited)	For the year ended For the year ended 31 March 2022 ®) (Audited)
	[a) Cash and cash equivalents (Refer note no. 11) b) Bank balance other than cash and cash equivalents (Refer note no.12) ) Book overdraft (Refer note no 20 (ii))	2,67,12,007 0 -	1,52,63,119 3,530 (4,584)
	Total	2,67,12,007	1,52,62,065

1. |Figures in brackets represent outflows.

lhence not provided. 5. |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 Flow Statement with the respective items reported in the Balance Sheet is not required and

	"ABC INDIA LIMITED. CIN- L63011WB1972PLC217415 REGD. OFF ; P-10 NEW C.L.T ROAD, KOLKATA - 700 073, Phone: (033) 22371745/24614156, FAX: (033) 24614193 : yrmd@abcindia com ; Website : www abcindia com Email
	[Notes: ) [The above Audied financial reslts have been reviewed by the Adi Commmitee and Mereafter the Board of Directors have approved the above results al el respective [meetings neid on 26tn May,2023
2)	e figures for the quanter enced 315t March. 2023 & corresponding quarter ended 31t March, 2022 are the balancing figures between the audied year 1o date figures for the year ended 315t March and the unaudited published figures for the nine montns ended 315t December of the respective financial years.
[3)	[ The Statutory Audiors have camed out Audt on the aforesaid financial results and have expressed an unquaified aUdi opinion and the said report of AUGHOTS Was. placed before the Board and was noted by the directors.
	[4)[The Company carmies out fs business in two segments viz., Freight & Services and Pelrol Pump -
5)	Exceptional andior Extraorainary items adjusted in the Statement of Profit and Loss in accordance with Ind-AS Rules.
6)	[This statement have been prepared in Accordance with the Indian Accounting Standard and as amended tereater.
7)	[ The Board of Directors of the Company has recommmeded a dvidend @5%( Rs 0.50 Paisa per Equity share) on the face value of Rs. 10/~ each full paid up.
8]	[The figures of previous periods / year has been regrouped / reciassified wherever necessary o make hem comparabie with those of Ihe curent period / year.
	For and on behalf of the Board of Directors of} ABC India Limited
	For BDS & Co. Chartered Accountants Onm > FRN - [26264E g CA Shwetz Bagana Sarawge Partner M. No. - 083679
	Ashish Agarwall Managing Director Place of Signature : Kolkata DIN: 00351824} Date: 26th May, 2023

Independent Auditor's Report on Quarterly and Year to Date Audited 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 quarterly and year to date Financial Results of ABC India Limited ("the Company") for the year ended March 31, 2023 ("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, the statement:

• a. s presented in accordance with the requirements of the listing Regulations in this regard: 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 other comprehensive income and other financial information of the Company for the quarter ended March 31.2023 and for the year ended March 31, 2023.

B: 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 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 statements 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 ICAT's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Financial Results

This 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. 2023, and interim financial information for the quarter ended March 31, 2023, 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 nf 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 cial Results

Our objectives are to obtain reasonable assurance about whether the Financial Results as a whole is 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 this Financial Results As part of an audit in accordance with SAs, we exercise professional Jjudgment and maintain professional scepticism 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.
• ¢ 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 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, 'ncluding 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, 2023 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 which were subjected to a limited review by us, as required under the Listing Regulations .

ForBD S & Co. Chartered Accountants Firm Registration No. 326264E

(Shweta Bagaria \$arawgee) ¥

Partner Membership No.: 063679

UDIN: 33043679 B& YO & 530

Place: Kolkata Date: 26" day of May 2023

Date: 26" May, 2023

The Secretary, The Secretary, Phiroze Jeejeebhoy Towers, 7, Lyons Range, Dalal Street, Kolkata- 700001 Mumbai — 400 001. Code — 520123 Code No.- 10011146

BSE Limited, The Calcutta Stock Exchange Ltd.,

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, we hereby declare and confirm that the Statutory Auditors of the Company viz. M/s. BDS & 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, 2023

Kindly take the above information on record.

Thanking You,

Yours faithfully,

For ABC India Limited

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

Annexure-I|

Brief Profile of Mr. Ashish Agarwal is as follows:

Mr. Ashish Agarwal (DIN: 00351824), aged about 44 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.