Aditya Spinners Ltd. — Annual Report 2021

Jun 25, 2021

Date: 25/06/2027

To The Deputy General Manager, Corporate Relationship Department, Stock Exchange Mumbai, 1" Floor, New Trading Ring, Rotunda Building P.J. Towers, DalalStreet, Fort, Mumbai- 400001 Fax no.i 022-2272 2028/3732

Dear Sir,

Sub: Submission of Audited Financial Results of the Company for the euarter & year Ended 31st March,2021

Scrip Code: BSE: 521141

In furtherance to the Board Meeting Notice, we wish to inform you that at the meeting of Board of Directors of Aditya Spinners Limited held on 25thJune, 2027, the Board hasconsidered and approved the Audited Financials for the quarter and year ended 31't March, IOZL. The said Audited Financial Results were reviewed by the Audit Committee and thereafter approved by the Board.

Pursuant to Regulation 33 of the SEBI (Listing Obiigations & Disclosure Requirements) Regulations, 2015, statement showing the Audited Financial Results for the Quarter & Year ended 31't March, 2021 along with the statement of Assets & Liabilities alongwith the cashflow statement and Auditor's Report of the Statutory Auditors are enclosed.

Pursuant to Regulation 33 (3) (d) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Board declares that the above Auditor's Reports are with unmodified opinion with respect to the Audited Financial Results for the euarter & year ended 31't March, 2021.

Kindly take this information on record.

Yours Faithfullv

For Aditya Spinners Limited

lq,VF*-.= VIJtrY'I(UMAR KAPI LAVAT Managing Director DIN:00759558

lz ala

6-3-668/10/66, Durganagar Colony, Punjagutta, Hyderabad - 500 082 Telangana State , [ndia Grams : "ADITYASPIN" Tel ^|040 -23404'108 Fax : 040 - 234M758 E-mail I H.O. I aslhyd9@gmail.com Site : aslskht@gmail.com CN : Ll8l00APl99lPLCOl233'7

ADITYA SPINNERS LIMITED (CIN NO:L40300AP1991PLC012337) REGD OFFICE: PERINDESAM VILLAGE, K.V.B. PURAM MANDAL NEAR SRIKALAHASTI, CHITTOOR DIST. A.P.

STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST MARCH'2021

3 months 3 months 3 months 12 months ended ended ended ended 31/03/2021 - 31/03/2020 - $31/12/2020$ - 31.03.2021 - ALIDITED AUDITED UNAUDITED AUDITED 1 Revenue from Operations(net) 1586.26 1351.01 1181.28 3340.92 Other Income 47.92 6.65 6.59 55.58 TOTAL REVENUE 1634.18 1357.66 1187.87 3396.50 2 EXPENSES:	Previous year ended 31.03.2020 - AUDITED 5696.54 64.85 5761.39 2599.94
a. Cost of materials consumed 741.65 562.31 434 15 1395.42
b. Changes in inventories of finished goods, (108.72) (53.40) 147.75 (36.74) work-in progress	(24.22)
c. Employee benefits expense 264.07 306.67 199.80 676.61	1084.84
d. Finance Costs 40.16 53.38 59.08 181.72	198.74
e. Depreciation and amortisation expense 46.56 46.98 45.85 188.41	178.48
f. Other Expenses 427.54 423.04 316.95 1043.40	1615 56
Total Expenses 1411.26 1338.98 1203.58 3448.82	5653.34
Profit Before Tax 222 92 18.68 (15.71) (52.32)	108.05
3 Tax Expense:
a. For Current Year 2.44 244
b. Deferred Tax 26.18 (444.82) (38.52) (12.34)	(454.82)
4 Profit After Tax 194.30 463.50 22.81 (42.42)	562.87
5 Other Comprehensive Income ٠ a.
(i) Items that will not be reclassified to A (8.72) (885.28) Profit or Loss (8.72)	(0.10)
(ii) Income Tax relating to the Items that 6 E will not be reclassified to Profit or Loss
(i) Items that will be reclassified to Profit or (26.46) 858.73 Loss (26.46)	858.73
(ii) Income Tax relating to the Items that $\alpha$ will be reclassified to Profit or Loss $\sim$	÷
Total Comprehensive Income for the period 6 (4+5) comprising Profit/(Loss) and Other 159.12 436.95 22.81 (77.60) Comprehensive Income for the period	1421.50
7 Paid Up Share Capital
No. of Shares 16740888 16740888 16740888 16740888	16740888
Face Value per Equity Share 10.00 10.00 10.00 10.00	10.00
Paid Up Equity Share Capital 167408880 167408880 167408880 167408880	167408880
Earnings per Equity Share (for continuing $\mathbf{a}$ operations)
Basic 1.16 2.77 0.14 (0.25)	3.36
Diluted 1.16	3.36
2.77 0.14 (0.25)

Note:

$\sqrt{2}$

E

The above results have been audited by the Statutory Auditors of the Cumpany, reviewed by the Audit Committee and approved by $\mathbf{1}$ the Board of Directors at their respective meetings held on 25.06.2021

Figures for the previous periods are re-classified / re-arranged / re-grouped, wherever necessary, as per the format revised by SEBI $\overline{2}$ in conformity with the amended Schedule

The Figures for the last quarter are the balancing figures between the audited figures in respect of the full financial year and year to 3 date figures upto the third quarter of the financial year.

The Government of India declared a lockdown on March 23rd 2020 in the light of the out break of Covid-19 on account of which the
Company suspended its operations from 24th March 2020. The Company has been laking various pr $\overline{4}$ wherein the Company has taken all necessary safety measures as laid down by the Governent for the purpose.

The Company has considered internal and certain external sources of information, including economic forecasts and industry reports, upto the date of approval of the financial statements in determining the possible effects elements of prudence in applying the judgements and assumptions, including sensitivity analysis, and based on current estimates expects the carrying amount of these assets will be recovered. The eventual outcome of impact of the global health pandemic may be different from these estimated as on the date of approval of these financial results.

for ADITYA SPINNERS LIMITED

Place: HYDERABAD Date: 25.06 2021

BVDAY KUMAR MANAGING DIRECTOR

ADITYA SPINNERS LIMITED CIN:L40300AP1991PLC012337 REGD OFFICE: PERINDESAM VILLAGE, K.V.B. PURAM MANDAL NEAR SRIKALAHASTI, CHITTOOR DIST. A.P.

STATEMENT OF ASSETS AND LIABILITIES

PARTICULARS	AUDITED AS AT 31/03/2021	AUDITED AS AT 31/03/2020
ASSETS
Non-current assets
(a) Property, Plant and Equipment	3,592.29	3,803.95
(b) Deferred Tax Asset	442.03	429.69
(c) Financial Assets
- Other Financial Assets	80.00	93.27
Total Non - Current Assets (1)	4,114.32	4,326.91
Current assets
(a) Inventories	497.40	396.88
(b) Financial Assets
(i) Trade receivables	293.97	386.55
(ii) Cash and cash equivalents	6.88	8.33
(iii) Other Bank Balances(not specified in (ii) above	7.79	7.38
(iv) Loans	3.15	2.46
(c) Other current assets	149.37	119.46
Total Current Assets (2)	958.56	921.06
Total Assets (1+2)	5,072.88	5,247.97
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital	1,674.09	1,674.09
(b) Other Equity	932.07	1,060.52
Total equity (1)	2,606.16	2,734.61
LIABILITIES
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings	1,388.11	1,427.34
(ii) Others	15.14	70.14
(b) Provisions	103.88	116.39
Total Non - Current Liabilities (2)	1,507.13	1,613.87
Current liabilities
(a) Financial Liabilities
(i) Borrowings	473.78	482.03
(ii) Trade payables	79.50	102.85
(iii) Others	387.87	290.11
(b) Other current liabilities	18.44	24.50
Total Current Liabilities (3)	959.59	899.49
Total Equity and Liabilities (1+2+3)	5,072.88	5,247.97

ADITYA SPINNERS LIMITED
CIN:L40300AP1991PLC012337
Cash flow statement for the year ended 31st March'2021

	Amount in Rupees
	Particulars	2021		2020
	a. Cash Flow From Operating Activities.
	Net Profit before tax Adjustments for:	(5232457)		10805124
	Add: Depreciation	18841522		17847915
	Add Interest and Finance Charges	18171723		19874013
	Operating Profit before Working Capital Changes Changes in Working Capital	31780788		48527052
	- (Increase) / decrease in Inventories	(10051734)		(3141657)
	- (Increase) / decrease in Other Bank Balances	(41434)		(737694)
	- (Increase) / decrease in Trade Receivables	9258829		5090238
	- Increase / (decrease) in Current Liabilities	(2335672)		3869996
	- Increase / (decrease) in Current Assets Net Cash Flow from Operating Activities	(313239)		480066
	Cash Flow from Invesing Activities: Inflaw/(Outflow)		28297539		54088001
	Net Purchase of Fixed Assets	(6277406)		(62916385)
	(Increase) / decrease other non current financial assets	(1664271)		5455555
			(7941678)		(57460830)
	Cash Flow From Financing Activities: Inflow/(Outflow)
	Proceeds/ (Repayment) from Non-current Borrowing	(10674423)		21878174
	Net Increase / (Decrease) in current borrowings	8345493		1477900
	Interest Paid Net Cash Flow from Financing Activities	(18171723)		(19874013)
	Net Increase / (Decrease) in Cash and Cash Equivalents:		(20500653) (144792)		3482062 109232
	Cash and Cash Equivalents at the beginning of the year
	Cash and Cash Equivalents at the close of the year		833067 688275		723835 833067
		For and on behalf of the Board ADITYA SPINNERS LIMITED
	In terms of our report attached
For T Mohan & Associates		N KRISHNA MOHAN		K VIJAY KUMAR
Chartered Accountants		DIRECTOR		MANAGING DIRECTOR
	(Firm Regn. No. 012482S)
Mohan Reddy T
Partner		P VENKATA SUBBA RAO		P RAMAMOORTHY
M.No.239635		COMPANY SECRETARY		CHIEF FINANCIAL OFFICER
	Place : Hyderabad
Date :	25 06 2021

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF M/s ADITYA SPINNERS LIMITED

Opinion

We have audited the accompanying Statement of Standalone Financial Results of M/s ADITYA SPINNERS LIMITED (the "Company"), for the three months and year ended March 31, 2021 (the "Statement"), being submitted by the Company pursuant to the requirement 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. _ is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
• b. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standard (Ind AS) prescribed under Section 133 of the Companies Act 2013 (the "Act") read with relevant rules issued thereunder 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 three months and year ended March 31, 2021.

Basis for Opinion

We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of 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 ("ICAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results 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 basis for our audit opinion.

Emphasis of Matter

We draw your attention to Note No. 4 dealing with uncertainties thrown up as a consequence of COVID-19 pandemic, management's assessment of impact on financial reporting and future operations of the company and the remedial measure put in place to mitigate adverse effects. However, the actual impact of COVID-19 on the financial statements may differ from that estimated.

Our opinion is not modified in respect of this matter.

T MOHAN & ASSOCIATES Continuation Sheet

Chartered Accountants

Management's Responsibilities for the Standalone Financial Results

This Statement is the responsibility of the Company's Management and approved by the Board of Directors, has been compiled from the related audited Interim condensed standalone financial statements for the year ended March 31, 2021. The Company's Board of Directors are responsible for the preparation and presentation of the Standalone Financial Results 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 Ind AS 34, 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 Standalone Financial Results that give a true and fair view and is 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 financial reporting process of the Company.

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 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 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:

• ^eIdentify 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 financial controls 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 such controls.
• ¢ Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.

T MOHAN & ASSOCIATES Conti . ChAserie haweuntanis ontinuation Sheet

• ¢ 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.
• ^eConclude 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 ability of the Company to continue as ^agoing 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 Statement 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 Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
• ^eEvaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

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

Place: Hyderabad Date: June 25, 2021

For T MOHAN & ASSOCIATES

Chartered Accountants FR No. 00124828

REDDY T

Partner Membership No. 239635 UDIN:21239635AAAACUI512

Date:25/06/2027

To The Deputy General Ma nager, Corporate Relationship Department, Stock Exchange Mumbai, 1'st Floor, New Trading Ring, Rotunda Building P.J. Towers, Dalal Street, Fort, Mumbai- 400001

Spinners Limited 6-3 -668 / | 0/ 66, Durganagar Colony, Punjagutta, Hyderabad - 500 082 Telangana State , India Grams : "ADITYASPIN" Tel : O4O - 23404'lO8 Fax :040-23404'758 E-marl : H.O. : aslhyd9@grnail.com Site : aslskht@gmail.com CIN : Ll8l00AP 199lPLC0l233'7

Dear Sir,

Sub; Declaration in respect of Audit Report with Unmodified Opinion for the Audited Financial Result of the Company for the Financial year Ended 31st Ma rch,202L.

Ref: Aditya Spinners Limited; Scrip Code: BSEs 521141

With reference to the captioned subject, we hereby declare that M/s. T Mohan & Associates, Chartered Accountants, Statutory Auditors of the Company have expressed an unmodified opinion on the Auditors Report on Audited Financial Results of the company for the euarter & year ended 31't March, 2021.

This is for vour information and records.

Yours Faithfully

For Aditya Spinners Limited

Managing Director : 00769568 lqvts*--.-.- VIJAY KUMAR KAPILAVAI