Accuracy Shipping Limited — Annual Report 2021

Jun 30, 2021

To,

June 30, 2021

National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot No. C/1, G - Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

NSE Symbol: ACCURACY

Subject: Outcome of the Board Meeting held on Wednesday, June, 30, 2021.

Dear Sir,

We wish to inform you that the Board of Directors of the Company in its meeting held today i.e., Wednesday, June 30, 2021, at the registered office of the Company situated at "ASL House", Plot No. 11, Survey No. 42, Meghpar Borichi, Anjar - 370 110, Gujarat, has, inter-alia, considered and approved the following business:

• Standalone and Consolidated Financial Results along with audit report of the Company for the Year 1. ended 31st March, 2020 pursuant to Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015;
• 1. Considered and discussed any other item as may be decided by the board of directors of the Company.

Further pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 & NSE Circular vide reference no. NSE/CML/20 19/11 dated 02nd April, 2019 and as intimated to exchange vide letter dated March 31, 2021, the Trading Window for dealing in the equity shares of the Company shall continue to remain closed and will be open after 48 hours of Conclusion of Board Meetings in which the Financial Results as above are approved.

The Board Meeting commenced at 4:30 pm and concluded at 9:30 p.m. You are requested to take the same on records.

Thanking You,

GST No: Gujarat - 24AAHCA3717A1ZB, GST No: Maharashtra - 27AAHCA3717A1Z5, GST No: Tamilnadu - 33AAHCA3717A1ZC, GST No: West Bengal - 19AAHCA3717A1Z2. Ph.: +91 2836 258251, 258252 Fax: +91 2836 258253 Mo: +91 99093 32446 E-mail: admin@aslindia.net Web.: www.aslindia.net

PAN No. AAHCA3717A Reg. No. MTO/DGS/883/APR/2022 TAN No.RKTA02447E CIN No. L52321GJ2008PLC05532

(Formerly Known As Accuracy Shipping Pvt.Ltd) Head Office : ASL House. Plot No. 11, Survey No. 42, Nr. Genus Factory, Indian Oil Petrol Pump Road, Meghpar Borichi, Anjar Kutch - 370 110. (Gujarat, India) Subject To Gandhidham Jurisdiction

1

Auditor's Report on Standalone Quarter Ended Financial Results and Year to Date Results of the Company Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To The Board of Directors Accuracy Shipping Limited Survey No: 42, Plot No: 11 Meghpar Borichi Anjar, Kutch - 370110

We have audited the financial results of M/s Accuracy Shipping Limited for the quarter ended 31st March, 2021 and for the periods from 1st April, 2020 to 31st March, 2021, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 Of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with circular no. CIR/CFD/FAC/62/2 016 dated 05th July 2016. These quarterly financial results as well as the year to date financial results have been prepared on the basis of the interim financial statement, which are the responsibility of the company's management and has been prepared in accordance with the recognition and measurement principles as laid down under Indian Accounting Standard 34-Interim Reporting (the "Ind AS 34") prescribed under section 133 of the Companies Act 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to express an opinion on these financial results based on our audit of such interim financial statement.

We conducted our audit in accordance with the auditing standards generally accepted in India. Our objectives are to obtain reasonable assurance about whether the financial statements 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 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 statements.

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 statements, 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 financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion 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 management.

• 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 statements 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 statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation 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 statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. charte,

We believe that our audit provides a reasonable basis for our opinion.

In our opinion and to the best of our information and according to the explanations gives to us these quarter ended financial results as well as the year to date results:

i. are presented in accordance with the requirement of regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and

ii. give a true and fair view of the net profit and other financial information for the quarter ended ended 31st March, 2021 as well as the year to date results for the period from 1st April, 2020 to 31st March, 2021.

÷.

For and on behalf of

Lahoti & Lahoti Chartered Accountants ICAI Firm's registration number: 112076W

CX Arun Kothari Partner Membership number: 107057

Place: Gandhidham Date: June 30, 2021

Udin: 21107057 AAAANS 7233

(formerly known as Accuracy Shipping Private Limited) SURVEY NO: 42, PLOT NO: 11 MEGHPAR BORICHI ANJAR Kachchh GJ 370110 CIN: L52321GJ2008PLC055322

Statement of Financial Results for the quarter ended 31st March 2021 and Year Ended 31st March 2021

Rs in Mn except per share data

Sr. No.	Particulars	3 months ended		Year Ended
		31-March-2021(Audited)	31-Dec-2020(Unaudited)	31-March-2021(Audited)	31-March-2020(Audited)
	Revenue from Operations	1,388.67	1,071.38	3,652.30	3,439.70
Ħ.	Other Income	8.12	0.66	9.49	9.99
M.	Total Revenue (I+II)	1,396.79	1,072.04	3,661.79	3,449.69
IV.	Expenses
a)	Operative Expenses	1,120.39	912.90	3,060.19	2,944.51
	Purchase of Stock in Trade	46.82	26.15	72.97
b)	Changes In Inventories Of Finished Goods And Stock-In-Trade	0.43	$-4.68$	$-4.25$	۰
c)	Employee benefit expenses	16.09	15.96	61.89	69.87
d)	Finance Cost	$-15.12$	23.56	55.16	73.76
e)	Depreciation & amortisation expenses	43.98	21.60	123.60	158.11
O)	Other expenses	117.01	26.17	169.95	152.28
	Total Expenses	1,329.59	1,021.66	3,539.51	3,398.53
v.	Profit before exceptional and extraordinary items and tax (III-IV)	67.20	50.38	122.28	51.16
٧I.	Exceptional Items		۰	۰	۰
VII.	Profit before extraordinary items and tax (V-VI)	67.20	50.38	122.28	51.16
VIII	Extraordinary Items		۰	٠	i.
IX.	Profit before tax (VII-VIII)	67.20	50.38	122.28	51.16
x.	Tax Expenses
a)	Current year tax	20.73	12.52	36.00	18.20
b)	Deferred tax	0.12	$-1.47$	$-0.06$	$-5.76$
c)	MAT Credit	۰	۰	٠
XI.	Profit/(Loss) for the period from continuing operations (IX-X)	46.58	36.39	86.22	38.72
XII	Profit/(Loss) from discontinuing operations
XIII.	Tax expenses of discontinuing operations
XIV.	Profit/(Loss) from discontinuing operations (after tax) (XII-XIII)
XV.	Net Profit/(Loss) for the period (XI+XIV)	46.58	36.39	86.22	38.72
	Other Comprehensive Income		۰
	A. (i) Items that will not be reclassified to profit or loss		٠
	(ii) Income Tax relating to items that will not be reclassified to profit or loss		٠
	B. (i) Items that will be reclassified to profit or loss		٠
	(ii) Income Tax relating to items that will be reclassified to profit or loss
	Total Other Comprehensive Income for the year
	Total Comprehensive Income for the year	46.58	36.39	86.22	38.72
XVI.	Earning per share
[a]	Basic	3.09	2.06	5.73	2.57
$\vert$ b)	Diluted	3.09	2.06	5.73	2.57
XVII.	Paid up equity share capital	15.06	15.06	15.06	15.06
XVIII.	Reserve excluding revaluation reserve as per balance sheet			667.75	583.20

NOTES:

$\mathbf{1}$

The above audited financial statement are prepared in accordance with accounting standards as specified in section 133 of the Companies Act, 2013 and relevant rules thereofand in accordance with the regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015.

The above results have been reviewed by the Audit Committee and taken on record by Board of Directors at their respective meetings held at June 30, 2020 and the same have been $\overline{a}$ audited by the auditors of the company.

• The company is engaged in two business segments i.e. logistics Service Provider and petroleum. 3
• Figures are regrouped/rearranged, wherever considered necessary. 4
• The figures for the quarter ended 31.03.2021 were only reviewed and were not audited. 5 There were no investor comilant pending at the beginnig of the quarter or lying unresolved at the end of the quarter. During the quarter, the company has not received any investor
• 6 compliant.

For and on hehalf of the Boarty of Directors of For Laholi & Laholi gy Shipping Limited Chartered Accountants 2008PLC055322 ICALFirm Registration Number: 112076W Rama Vinay Tripathi Vinay Diamonth Tripathi Arun Rothari Managing Director Wholetime Director Parmet Membership No. 107057 DIN:02344536 DIN 05133579 Shipra Jhanwar Hiren Sukhwani Chief Financial Officer Company Secretary

Place: Gandhidham Date: June 30, 2021 Place: Gandhidham Date: June 30, 2021

UNIN: 21107057AAAA KB7273

(Formerly known as Accuracy Shipping Private Limited) CIN: L52321GJ2008PLC055322 Balance Sheet as at March 31, 2021

(All amounts are in Indian Rupees in Millions unless otherwise stated)

$\overline{\phantom{a}}$

$;$

$\sim$

$\sim$

	As at	As at
Particulars	March 31, 2021more than	March 31, 2020
ASSETS
1. Non Current Assets	547.95	503.45
(a) Property, Plant and Equipment	٠	31.85
(b) Capital work-in-progress	4.02	1.58
(c) Other Intangible Assets
(d) Financial Assets	1.34	1.34
(i) Investments	3.35	3.52
(ii) Loans	7.01	7.33
(iii) Other Financial Assets
(e) Deferred Tax Assets (Net)	٠	٠
(f) Other Non Current Assets	563.67	549.07
Sub-total-Non-current Assets
2. Current Assets
(a) Inventories	7.08	7.22
(b) Financial Assets
(i) Investments۰
(ii) Trade Receivables	1,047.39	971.47
(iii) Cash and cash equivalents	48.51	6.67
(iv) Loans
(v) Others	۰	$\blacksquare$32.46
(c) Current Tax Asstes (Net)		199.34
(d) Other Current Assets	287.74	1,217.17
Sub-total-Current Assets	1,390.72
TOTAL - ASSETS	1,954.38	1,766.25
EQUITY AND LIABILITIES
(1) EQUITY
(a) Equity Share Capital	150.56	150.56
(b) Other Equity	667.68	583.20
Sub-total-Equity	818.24	733.76
(2) LIABILITIES
Non Current Liabilities
(a) Financial Liabilities
(i) Borrowings	455.35	421.47
(b) Provisions	1.48
(c) Deferred tax liabilities (Net)	8.07	8.00
(d) Other Non Current Liabilites
Sub-total-Non-current Liabilities	464.90	429.47
Current Liabilities
(a) Financial Liabilities	284.36	252.01
(i) Borrowings	131.06	172.63
(ii) Trade Payables(iii) Other Financial Liabilities	153.29	90.03
(b) Other Current Liabilities	100.63	88.35
(c) Provisions		۰
(c) Current tax liabilities (Net)	1.89
Sub-total-Current Liabilities	671.23	603.02
$^{\prime}$ 0	1,954.38	1,766.25
TOTAL - EQUITY AND LIABILITIES
For Lahoti & Lahoti	For and on behalf of the Board of Directors of
Chartered Accountants	Accuracy Shipping Limited
ICAI Firm Registration Number: 112076W	CIN LY311G. 2008PLC055322
$\sqrt{\sigma / \epsilon_0}$ 112078W		⌒
ndhidhan
Arun Kothari	Vinay Dinasalh Tripathi	Rama Vinay Tripathi
Partner	Managing Director	Director
Membership No. 107057		$clint^{\mathcal{U}}$

Hiren Sukhwani Chief Financial Officer Shipra Jhanwar

Company Secretary

Place: Gandhidham Date: June 30, 2021

٠

Place: Gandhidham Date: June 30, 2021

$11.4.6$ $\frac{1000,202}{2}$ of $10.205$ $\epsilon$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$

(Formerly known as Accuracy Shipping Private Limited)

Cash Flow Statements for the year ended March 31, 2021

(All amounts are in Indian Rupees in Millions unless otherwise stated)

		Year ended	Year ended
		March 31, 2021	March 31, 2020
	A. Cash flows from operating activities
	Profit before tax	122.28	51.16
	Non-cash adjustment to reconcile profit before tax to net cash
	Depreciation	123.60	158.11
	Tax & other adjustments	(1.73)	(0.02)
	Interest expense	53.80	73.76
	Interest income	(5.68)	(7.03)
	Profit on Sale of Fixed Assets		(1.08)
	Operating profit before working capital changes	292.27	274.91
	Adjustments for changes in working capital :
	(Increase) / Decrease in other current assets	(88.41)	(100.50)
	(Increase) / Decrease in trade receivables	(75.92)	(129.65)
	(Increase) / Decrease in inventories	0.14	(3.64)
	Increase / (Decrease) In trade payables	(41.57)	33.68
	Increase / (Decrease) In provisions	1.48
	Increase / (Decrease) In other current financial liabilities	63.27	(47.76)
	Increase / (Decrease) In other current liabilities	12.28	9.60
	Increase / (Decrease) In Current Tax(Net)	34.36
	Increase / (Decrease) In short-term provisions		(13.65)
	Cash generated from/(used in) operations	197.91	22.99
	Direct taxes paid, net	(36.00)	(18.20)
	Net cash from / (used in) operating activities	161.91	4.79
	B. Cash flows from investing activities
	Purchase of fixed assets (including Capital work in progress)	(138.69)	(100.75)
	Proceeds from sale of fixed assets		1.91
		0.49	1.04
	(Increase) / Decrease In long-term loans & advances		(0.31)
	(Increase) / Decrease In other non-current assets
	(Increase) / Decrease In other non-current investments	5.68	7.03
	Interest received	(132.52)	(91.08)
	Net cash from / (used in) investing activities
	C. Cash flows from financing activities
	Proceeds from issue of share capital (net)	66.25	152.19
	Net increase/(decrease) in borrowings	(53.80)	(73.76)
	Interest paid
	Dividend paid	12.45	78.43
	Net cash from / (used in) financing activities
		41.84	(7.85)
	I. Net Increase in cash and cash equivalents
		6.67	14.52
	II. Cash and cash equivalents at the beginning of period
		48.51	6.67
	III. Cash and cash equivalents at the end of period

1. The accompanying notes are an integral part of this statement. As per our report of even date

For and on behalf of the Board of Directors of $\sim$ 0 For Laboti & Laboti Accuracy Shipping Limited Chartered Accountants, CIX 1 2321GJ2008PLC055322 ICALFirm Registration Number: 112076W $\circ$ Vinay Dinanath Tripathi Ardn Kothari Director Managing Director Partner Membership No. 107057 Shipra Jhanwar Hiren Sukhwani Company Secretary Chief Financial Officer Place: Gandhidham Place: Gandhidham Date: June 30, 2021 Date: June 30, 2021

Vdun: 21102052 AAAAKB F273

Rama Vinay Tripathi

7

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$10$

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LAHOTI & LAHOTI

CHARTERED ACCOUNTANTS

Auditor's Report On Consolidated Quarter Ended and Yearly Financial Results of the company Pursuant to the regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To The Board Of Directors of Accuracy Shipping Limited Survey No: 42, Plot No: 11 Meghpar Borichi Anjar, Kutch - 370110

We have audited the accompanying Statement of Consolidated financial results of Accuracy Shipping Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the period from 1st April, 2020 to 31st March, 2021 ("the Statement"), being submitted by the parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. These consolidated quarterly financial results as well as the year to date financial results have been prepared on the basis of the interim financial statement, which are the responsibility of the company's management and has been prepared in accordance with the recognition and measurement principles as laid down under Indian Accounting Standard 34-Interim Reporting (the "Ind AS 34") prescribed under section 133 of the Companies Act 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to express an opinion on these financial results based on our audit of such interim financial statement.

We conducted our audit in accordance with the Standard on auditing specified under Section 143(10) of the Companies Act 2013. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement.

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements 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 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 consolidated financial statements.

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 consolidated financial statements, 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 financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion 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 management.

• 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 consolidated financial statements 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 consolidated financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation 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 consolidated financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also performed procedures in accordance with the circular issued by the SEBI under regulation 33(8) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in paragraph 6 below, is sufficient and appropriate to provide a basis for our audit opinion.

1. In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on separate financial statement of subsidiaries referred to in paragraph below, the Statement:

a. includes the results of the following entities:

• A. R. S. International Private Limited (a wholly owned subsidiary) $(i)$
• A.R.S. Terminal (India) Private Limited (subsidiary) $(ii)$
• Jayant Logistics Private Limited (subsidiary) $(iii)$

b. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

c. gives a true and fair view in conformity with the recognition and measurement principles laid down in the aforesaid Accounting Standards and other accounting principle generally accepted in India of the consolidated net profit and other financial information of the group for the period from 1stApril, 2020 to 31st March, 2021.

1. We have not audited the financial statements of 2 of the subsidiary included in the consolidated financial results whose financial statements reflect total assets of Rs. 2,68,05,738/- as at 31st March, 2021, total revenues of Rs. 5,74,58,279/-, total net profit / (loss) after tax of Rs. 17,91,313/-, for the period from 1st April, 2020 to 31st March, 2021 are considered in the consolidated financial results,

whose financial statements have not been audited by us. The financial statements of other subsidiaries, is based solely on the report of such branch auditors.

Our opinion on the statement is not modified in respect of the above matters.

Lahoti & Lahoti Chartered Accountants ICAL Firm's registration number: 112076W

$\pmb{\cdot}$ Gandhidhar CA Arun Kothari Partner Membership number: 107057

Place: Gandhidham

Date: June 30, 2021 Volin: 21107057 AAAAKA 7976

(formerly known as Accuracy Shipping Private Limited) SURVEY NO: 42, PLOT NO: 11 MEGHPAR BORICHI ANJAR Kachchh GJ 370110 CIN: L52321GJ2008PLC055322

Statement of Consolidated Results for the quarter ended 31st March 2021 and Year Ended 31st March 2021

Rs in Mn except per share data

Sr. No.	Particulars	3 months ended		Year Ended
		31-March-2021	31-Dec-2020	31-March-2021	31-March-2020
		(Audited)	(Unaudited)	(Audited)	(Audited)
	Revenue from Operations	1,347.67	1,136.43	3,747.32	3,483.81
	Other Income	8.26	0.68	9.72	10.02
M.	Total Revenue (I+II)	1,355.93	1,137.11	3,757.04	3,493.83
IV.	Expenses
a)	Operative Expenses	1,012.90	976.67	3,079.49	3,004.50
	Purchase of Stock in Trade	109.32	26.15	135.47
$\vert$ b)	Changes In Inventories Of Finished Goods And Stock-In-Trade	3.89	$-10.62$	$-4.28$	$-0.65$
[c]	Employee benefit expenses	20.37	16.48	67.93	75.48
d)	Finance Cost	$-15.11$	28.97	55.21	73.78
$\bullet$	Depreciation & amortisation expenses	44.08	21.73	124.03	158.45
	Other expenses	119.77	27.03	174.02	128.19
	Total Expenses	1,295.22	1,086.41	3,631.86	3,439.76
IV.	Profit before exceptional and extraordinary items and tax (III-IV)	60.71	50.70	125.18	54.07
W١.	Exceptional Items
VII.	Profit before extraordinary items and tax (V-VI)	60.71	50.70	125.18	54.07
VIII.	Extraordinary Items
IX.	Profit before tax (VII-VIII)	60.71	50.70	125.18	54.07
X.	Tax Expenses
a)	Current year tax	19.01	14.00	36.71	18.79
(b	Deferred tax	0.20	$-1.47$	$-0.05$	$-5.77$
$rac{c}{x}$	MAT Credit	0.07	٠	0.07	0.16
	Profit/(Loss) for the period from continuing operations (IX-X)	41.97	35.23	88.49	41.21
XII.XIII.	Profit/(Loss) from discontinuing operations
XIV.	lax expenses of discontinuing operations
XV.	Profit/(Loss) from discontinuing operations (after tax) (XII-XIII)Net Profit/(Loss) for the period (XI+XIV)
	Other Comprehensive Income	41.97	35.23	88.49	41.21
	A. (i) Items that will not be reclassified to profit or loss		۰
			٠
	(ii) Income Tax relating to items that will not be reclassified to profit or loss
	B. (i) Items that will be reclassified to profit or loss		٠
	(ii) income Tax relating to items that will be reclassified to profit or loss		٠
	Total Other Comprehensive Income for the year		۰
	Total Comprehensive Income for the year		۰
	Profit for the year attributable to:	41.97	35.23	88.49	41.21
	Owners of the Company	42.04
	Minority Shareholders	$-0.07$	34.80	87.77	40.72
XVI.	Earning per share		0.43	0.72	0.49
O)	Basic	2.79
b)	Diluted	2.79	2.312.31	5.88	2.74
XVII.	Paid up equity share capital	15.06	15.06	5.88	2.74
XVIII.	Reserve excluding revaluation reserve as per balance sheet			15.06	15.06
				670.59	584.56

NOTES:

The above audited financial statement are prepared in accordance with accounting standards as specified in section 133 of the Companies Act, 2013 and relevant rules thereofand in

accordance with the regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015. 1

• The above results have been reviewed by the Audit Committee and taken on record by Board of Directors at their respective meetings held at June 30, 2021 and the same have been 2 audited by the auditors of the company.
• The company is engaged in two business segments i.e. logistics Service Provider and petroleum. з
• Figures are regrouped/rearranged, wherever considered necessary. ٠
• The figures for the quarter ended 31.03.2021 were only reviewed and were not audited. 5 There were no investor comliant pending at the beginnig of the quarter or lying unresolved at the end of the quarter. During the quarter, the company has not received any investor

CIN:L

6 compliant For Lahoti & Lahoti Charlered Accountants -ICAI Firm Registration Number: 112076W üb I Ċ maribirity run Kothari Part Membership No. 107057

Vinav Dinapath Tripathi Manne Director DK 02344536

Accuracy Shipping Limited

For and on fichalf of the Board of Directors of

52324G32008PLC055322

Hiren-Mikhwani Chief Financial Officer

Place: Gandhidham Date: June 30, 2021

Udin: 21107057AAAAKA7996

Place: Gandhidham Date: June 30, 2021

٠

Rama Vinay Tripathi Wholetime Director DIN:05133579

Shipra Jhanwar Company Secretary

(Formerly known as Accuracy Shipping Private Limited)

CIN: 1.52321GJ2008PLC055322

Consolidated Balance Sheet as at March 31, 2021

(All amounts are in Indian Rupees in Millions unless otherwise stated)

	As at	As at
Particulars	1.11March 31, 2021	March 31, 2020
ASSETS
1. Non Current Assets
(a) Property, Plant and Equipment	550.00	505.09
(b) Capital work-in-progress	۰	31.85
(c) Other Intangible Assets.	4.02	1.58
(d) Financial Assets
(i) Investments	٠	۰
(ii) Loans	14.07	14.25
(iii) Other Financial Assets	7.01	7.33
(e) Deferred Tax Assets (Net)
(f) Other Non Current Assets	٠	۰
Sub-total-Non-current Assets	575.11	560.10
2. Current Assets	12.36	12.47
(a) Inventories
(b) Financial Assets
(i) Investments
(ii) Trade Receivables	1,053 06	976.96
(iii) Cash and cash equivalents٠	52.35	8.11
(iv) Loans
(v) Others	٠	۰
(c) Current Tax Asstes (Net)	0.46	33.26
(d) Other Current Assets	297.25	210.25
Sub-total-Current Assets	1,415.48	1,241.05
TOTAL - ASSETS	1,990.58	1,801.15
EQUITY AND LIABILITIES
(I) EQUITY
(a) Equity Share Capital	150.56	150.56
(b) Other Equity	670.59	584.56٠
Sub-total-Equity	821.15	735.12
(2) MINORITY INTEREST	1.53	0.81
(3) LIABILITIES
Non Current Liabilities
(a) Financial Liabilities
(i) Borrowings	464.16	434.46
(b) Provisions	1.48
(c) Deferred tax liabilities (Net)	796	7.91
(d) Other Non Current Liabilites
Sub-total-Non-current Liabilities	473.61	442.37
Current Liabilities	٠
(a) Financial Liabilities
(i) Borrowings	284.36	252.01
(ii) Trade Payables	145.90	18363
(iii) Other Financial Liabilities	153.39	90.03
(b) Other Current Liabilities	110.64	97.18
(c) Provisions(c) Current taxliabilities (Net)	٠	٠
Sub-total-Current Liabilities	694.29	622.85
TOTAL - EQUITY AND LIABILITIES	1,990.58	1,801.15

$\sim$

$\sim$

Vinay Muamath Tripathi Managing Director -

Accuracy Shipping Limited

CIN: DS1321G12008PLC055322

For and on behalf of the Board of Directors of

Hiren Sukhwani Chief Financial Officer

Place: Gandhidham Date: June 30, 2021 Rama&Inay Tripathi Director

Shipra Jhanwar Company Secretary

Place: Gandhidham Date: June 30, 2021Udin:-21107057AAAAKA7976

Cash Flow Statements for the year ended March 31, 2021 (All amounts are in Indian Rupees in Millions unless otherwise stated)

		Year ended	Year ended
		March 31, 2021	March 31, 2020
	A. Cash flows from operating activities
	Profit before tax	125.18	54.07
	Non-cash adjustment to reconcile profit before tax to net cash
	Depreciation	124.03	158.45
	Tax & other adjustments	(1.73)	(0.08)
	Interest expense	53.84	73.78
	Interest income	(5.77)	(7.08)
	MAT Credit	0.07
	Profit on Sale of Fixed Assets		(1.08)
	Operating profit before working capital changesAdjustments for changes in working capital :	295.61	278.06
	(Increase) / Decrease in trade receivables	123.90	(134.87)
	(Increase) / Decrease in inventories	0.11	(4.28)
	(Increase) / Decrease in Current Tax (Net)	32.80
	(Increase) / Decrease in Current Financial Assets	(287.01)	(106.94)
	Increase / (Decrease) In trade payables	(37.73)	41.38
	Increase / (Decrease) In other current liabilities	76.82	(35.94)
	Increase / (Decrease) In provisions $\sim$	(35.23)	(33.45)
	Cash generated from/(used in) operations	169.27	3.96
	Net cash from / (used in) operating activities	169.27	3.96
	B. Cash flows from investing activities
	Purchase of fixed assets (including Capital work in progress)	(139.52)	(101.07)
	Proceeds from sale of fixed assets		1.90
	(Increase) / Decrease In Non Current Financial Assets	0.49	1.36
	(Increase) / Decrease In other non-current assets
	(Increase) / Decrease In other non-current investments		۰
	Interest received	5.77	7.08
	Net cash from / (used in) investing activities	(133.26)	(90.73)

C

. Cash hows from maancing activities
Proceeds from issue of share capital (net)		٠
Net increase/(decrease) in borrowings	62.07	152.20
Interest paid	(53.84)	(73.78)
Dividend paid
Net cash from / (used in) financing activities	8.23	78.43
I. Net Increase in cash and cash equivalents	44.24	(8.34)
II. Cash and cash equivalents at the beginning of period	8.11	16.44
III. Cash and cash equivalents at the end of period	52.35	8.11

1. The accompanying notes are an integral part of this statement. As per our report of even date

Membership No. 107057

For and on behalf of the Board of Directors of Accuracy Shipping Limited CIN: 52321 6.12008PLC055322

$R$

Vinay Dinanath Vripathi Managing Director

Hiren Sukhwani Chief Financial Officer

Rama Vinay Tripathi Director

,

Shipra Jhanwar Company Secretary

Place: Gandhidham Date: June 30, 2021

Place: Gandhidham Date: June 30, 2021

Odin:211070574AAAKA7976

Date: 30.06.2021

To, Listing Department, National Stock Exchange of India Limited, Exchange Plaza, BandraKurla Complex, Bandra East, Mumbai-400051.

NSE Trading Symbol: ACCURACY ISIN: INE982V01017

Subject: Declaration for un-modified opinion with Audit Report on Annual Audited Standalone and Cónsolidated Financial results for the half year ended and the year ended on 31st march, 2021.

Dear Sir/Madam,

Pursuant to Regulation 33 (3) (d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulation, 2015, as amended, we hereby declare that the Mr. Arun Kothari, Partner of M/s Lahoti & Lahoti Chartered Accountants, (FRN: 112076W). Statutory Auditors ofthe company have issued Audit Report with unmodified opinion on the Standalone & Consolidated Audited Financial Results for the half year and year ended March 31. 2021.

Kindly take it on your records. Thanks & Regards,

GST No: Gujarat - 24AAHCA3717A1ZB, GST No: Maharashtra - 27AAHCA3717A1Z5, GST No: Tamilnadu - 33AAHCA3717A1ZC, GST No: West Bengal - 19AAHCA3717A1Z2.

Ph.: +91 2836 258251, 258252 Fax: +91 2836 258253 Mo: +91 99093 32446 E-mail: admin@aslindia.net Web.: www.aslindia.net

PAN No. AAHCA3717A Reg. No. MTO/DGS/883/APR/202 TAN No.RKTA02447E CIN No. L52321GJ2008PLC05532

(Formerly Known As Accuracy Shipping Pvt.Ltd) Head Office: ASL House. Plot No. 11, Survey No. 42, Nr. Genus Factory, Indian Oil Petrol Pump Road, Meghpar Borichi, Anjar Kutch - 370 110. (Gujarat, India) Subject To Gandhidham Jurisdiction