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Agri-Tech India Ltd. Interim / Quarterly Report 2021
63547_rns_2021-02-13_0bc2940e-2645-42bc-a06c-68a70d8a7140.pdf
Interim / Quarterly Report
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13 February 2021
The Manager-Listing The Manager- Listing Dalal Street, Bandra (E) Mumbai-400001 Mumbai-400051
BSE Limited National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra-Kurla Complex
BSE Code-537292 NSE Code-AGRITECH
Sub - Outcome of Board Meeting.
Ref — Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements).
We inform you that the Board of Directors of the Company, at its Meeting held today i.e. on 13th February 2021, has approved the following
- 1, Statement of unaudited financial results, (Standalone) for the quarter and nine month ended 31s December 2020. (Annexure-l)
-
- Limited Review Report of the Statutory Auditors on the aforesaid Financial Results. (Annexure-Il).
-
- Statement of unaudited financial results, (Consolidated) for the quarter and nine month ended 31% December 2020. (Annexure-lII]). ;
-
- Limited Review Report of the Statutory Auditors on the aforesaid Financial Results. (Annexure-IV).
-
- Appointment of Mr. Madhukar Deshpande (DIN-07630081) as Independent Director (Additional) with immediate effect. (Annexure-V).
- 6, Reconstitution of Committees. (Annexure-V])
"
The Meeting Commenced on 03:00 p.m. and Concluded on 04:40 p.m.
The above information will be made available on the Company's website www.agri-tech.in.
You are requested to take the above information on record.
Thanking.You Yours faittfully, For Ag h (India) Limited,
Rajendra Sharma Chief Financial Officer
LY
| Rs in Lakh | |||||
|---|---|---|---|---|---|
| $31 - 12 - 2020$ | 31-12-2019 | Year Ended31-03-2020 | |||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited |
| 0.00 | 0.23 | 0.00 | 19.29 | 38.39 | 38.3992.10 |
| 130.49 | |||||
| 34.77 | |||||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 1.00 | 0.59 | 11.71 | 19.89 | 0.0024.55 | |
| 25.80 | 0.05 | (0.16) | 25.86 | 0.00 | 0.002.20 |
| 4.07 | 3.08 | 41.65 | 65.29 | 22.06 | |
| 66.52 | 20.98 | 26.99 | 109.12 | 115.78 | 83.58 |
| (64.99) | (43.22) | 46.91 | |||
| 0.00 | 0.00 | ||||
| (26.59) | (64.99) | (43.22) | 46.91 | ||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (41.68) | (20.75) | (26.59) | (64.99) | (43.22) | 46.91 |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.58 |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.58 | |
| (41.68) | (20.75) | (26.59) | (64.99) | (43.22) | 46.33 |
| 594.00 | 594.00 | 594.00 | 594.00 | 594.00 | 594.00 |
| 9961.39 | 10003.07 | 10127.89 | 9961.39 | 10127.89 | 10115.58 |
| (0.76) | (1.94) | (1.10) | (3.03) | (0.28) | (1.10) |
| (1) The financial results were reviewed by the Audit Committee in meeting held on 12 Feb 2021 and were thereafter approved by the Board of | |||||
| (2) The company is dealing in one major product segment : Horticulture Crops | |||||
| (3) The figures have been regrouped/rearranged, where ever necessary. | FOR AGRI-TECH (INDIA) LTD | ||||
| 31-12-202024.8424.844.387.150.5527.64(41.68)0.00(41.68)0.00 | Quarter Ended30-09-20200.000.238.397.330.55(20.75)0.00(20.75) | (India) Limited(CIN LO1110MH1983PLCO73266)31-12-20190.400.404.277.590.50(26.59)0.00 | 24.8444.1318.640.3420.981.650.00 | STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER & NINE MONTHS ENDED 31/12/2020Nine Months Ended34.1772.5624.804.291.510.00 |
Regd. Ollice : Nath House, Nath Road, Aurangabad - 431008 (MS) ee Dacia sek ee a
FOR AGRI-TECH (INDIA) LTD / Satish Kagliwal Place : Aurangabad DIRECTOR
ASHOK R. MAJETHIA BCom. F.C.A Ashok R. Majethia& Co. CHARTERED ACCOUNTANT
Chartered Accountants Utsav Complex, Office No. 7, Bazar Peth, Dist. Raigad, Khopoli — 410 203 Tel :- (02192) 269908 Mobile :- 9404711539 / 9372169952 Email :- [email protected]
INDEPENDENT AUDITOR'S REVIEW REPORT ON THE QUARTERLY AND YEAR TO DATE UNAUDITED STANDLONE IND-AS_ FINANCIAL RESULTS OF THE COMPANY PURSUANT TO REGULATION 33 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATION 2015, AS AMENDED.
Review Report to The Board of Directors, Agritech (India) Limited
- A, We have reviewed the accompanying statement of unaudited Standalone Ind-AS financial resultsof Agri-tech (India) Limited ('the Company') for the quarter ended 31% December 2020 and year to date results for the period 1* April 2020 to 31st December 2020 ('The Statement') being submitted by the Company pursuant to the requirements of regulation 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation 2015 as amended.
- This statement,which is the responsibility of the Company's Management and has been approved by the Board of Directors, has been prepared in accordance with Ind-AS 34- 'Interim Financial Reporting' prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognised accounting practices and policies generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of
company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
-
- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards except as mentioned in para 5 below in the Basis for qualified opinion and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
-
- Basis for qualified opinion:
In respect of inter-corporate Loans / Advances, prima-facie, the company has not complied with the provisions of section 186 of the Act, in as much as these are interest free loans granted to certain parties.
For Ashok R Majethia Chartered Accountants fag WN
Proprietor M No: 124781 UDIN: 21124781AAAAAF1349
Place: Aurangabad Date: 13 February 2021
| agritech@Cindia | ) Limited | ||||||
|---|---|---|---|---|---|---|---|
| et | {CIN LO1110MH 1GIFL. COT 3260) | ||||||
| STATEMENT OF CONSOLIDATED UNAUDITED RESULTS FOR THE QUARTER & NINE MONTHS ENDED ON 31/12/2020 | Rs in Lakh | ||||||
| Quarter Ended | Nine Months Ended | Year Ended | |||||
| 8. No. | Particulars | 31-12-2020\ | 30-09-2020Unaudited | 31-42-2019Unaudited | 31-12-2020Unaudited | 34-12-2018Unaudited | 31-a-2020Audited |
| Income(a) Revenue from operations | 0.00 | 0.23 | 0.00 | 19.29 | 38.39 | 38.39 | |
| (b) Other Income | 24.84 | 0.00 | 0.40 | 24.84 | 34.1772.56 | 92.10130.49 | |
| Total Income Expenses | 24.84 | 0.23 | 0.40 | 44.13 | |||
| a) Cost of Material Consumedb) Purchase of Stock-in-Trade | 4.380,00 | 8.390.00 | 4.270.00 | 18.640.00 | 24.800.00 | 34.770.00 | |
| c) Changes in Inventory of Finished | 1.00 | 0.597.33 | 11.717.58 | 0.3420,98 | 4.2919.89 | 0.0024.55 | |
| d) Employee Benefit Expensee) Finance Costs | 7.1525.80- | 0.05 | (0.16) | 25.86 | 0.00 | 0.002.20 | |
| f) Depreciation & Amortisation Expenses | 0.5527.64 | 0.554.07 | 0.503.08 | 1.6541.65 | 15165.29 | 22.06 | |
| g) Other ExpenditureTotal Expenses | 66,52 | 20.98 | 26.99 | 109,12 | 115.78 | 83.58 | |
| Profit before Consolidation (I - Il) | (41.68) | (20.75) | (26.59) | (64.99) | (43.22) | 46.91 | |
| (51.30) | (56.04) | (33.75) | (180.76) | (87.11) | (79.90) | ||
| IV Share in Profit/(Loss) of AssociateVv Profit before Exceptional Items & Tax (Ill | |||||||
| IV) | (92.98) | (76.79) | (60.34)0.00 | (245.75)0.00 | (130.33)0.00 | (32.99)0.00 | |
| VI Exceptional Items Income/(Expenses) | 0.00 | 0.00 | (60.34) | (245.75) | (130.33) | (32.99) | |
| VII Profit Before Tax (V-VI) | (92.98) | (76.79) | |||||
| Villl Tax Expense(a) Current Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| (b) Deferred Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| IX] Net Profit for the pertod {VIl-Vil} | (92.98) | (76.79) | (60.34)} | (245.75) | (130,33) | (32.99) | |
| X Other Comprehensive Income | |||||||
| 4. (a) Items that will not be reclassified to | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.58 | |
| Profit or Loss(b) Income tax relating to items that will | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| not be reclassified to Profit or Loss2. (a) Items that will be reclassified to | 0.00 | 0.00 | 0.00 | 0.00 | |||
| Profit or Loss(b) Income tax relating to items that will | 0.00 | 9.00 | 0,00 | ||||
| be reclassified to Profit or Loss | 0.000.00 | 0.000.00 | 0.000.00 | 0.000.00 | 0.000.00 | 0.58 | |
| Total other Comprehensive Incomex Total Comprehensive Income for the | (92.98) | (76.79) | (60.34) | (245.75) | (130.33) | (33.57) | |
| period (IX - X)xil Paid Up Equity Share Capital | ;594.00 | 594.00 | §94.00 | 594.00 | |||
| (Face Value Rs. 10/- each)Reserves (excluding Revaluation | §94.00 | 594,00 | |||||
| XIll Reserves) as per balance sheet of | 11151.58 1124456 | 11491.63 | 11151.58 | 11491.63 | 11486.53 | ||
| previous yearXIV Earning per share (of Rs 10/- each) (notannualised) Basic & Diluted | (3.48) | (3.17) | (1,55) | (6.05) | (1.18) | (2.44) |
| XIV Earning per share (of Rs 10/- each) (not(2.44)(1.18)(6.05)(1,55)(3.17)(3.48)annualised) Basic & DilutedNotes:(1) The financial results were reviewed by the Audit Committee in meeting held on 12 Feb 2021 and were thereafter approved by the Board of Directorsat its meeting held on 13 Feb 2021(2) The company is dealing in.one major product segment : Horticulture Crops(3) The share in Profit(Loss) of Paithan Mega Food Park Pvt. Ltd. (Associate Company) wherein the company is holding 49.20 % of shares has been considered for the purpose of consolidation of financial results. However, no plot could be allotted on long term lease during the quarter because offCOVID -19 hence no lease premium was generated(4)The figures have been regrouped/rearranged, where ever necessary.FOR AGRI-TECH (INDIA) LTD(1(Satish Kagliwal/DIRECTORPlace : AurangabadDIN 00119601bruary 2024rere ees cy)Date : 13 FeCees cakeseeee | (Face Value Rs. 10/- each)Reserves (excluding RevaluationXIll Reserves) as per balance sheet ofprevious year | §94.0011151.58 1124456 | 594,00 | 594.0011491.63 | 594.0011151.58 | §94.0011491.63 | 594.0011486.53 | |
|---|---|---|---|---|---|---|---|---|
| ASHOKMAJETHIAR. | |
|---|---|
| BCom. F.C.A,CHARTERED ACCOUNTANT | Ashok R. Majethia & Co.Chartered AccountantsUtsav Complex,Office No. 7, Bazar Peth,Dist. Raigad, Khopoli — 410 203 |
| Tel :- (02192) 269908Mobile :- 9404711539/ 9372169952Email :- [email protected] |
INDEPENDENT AUDITOR'S REVIEW REPORT QN THE QUARTERLY AND YEAR TO DATE UNAUDITED CONSOLIDATED IND-AS FINANCIAL RESULTS OF THE COMPANY PURSUANT TO REGULATION 33 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATION 2015, AS AMENDED.
Review Report to The Board of Directors, Agritech (India) Limited
-
- We have reviewed the accompanying statement of unaudited Consolidated Ind- AS financial results of Agri-tech (India) Limited ('the Holding Company' and its associate together referred to as 'the Group') for the quarter ended 31* December 2020 and year to date results for the period 1* April 2020 to 31* December 2020 ('The Statement') being submitted by the Holding Company pursuant to the requirements of regulation 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation 2015 as amended.
- This statement, which is the responsibility of the Holding Company's Management and has been approved by the Board of Directors of the Holding Company, has been prepared in accordance with Ind-AS 34- 'Interim Financial Reporting' prescribed under section 133 of the Companies Act., 2013 read with relevant rules issued thereunder and other recognised accounting practices and policies generally accepted in India. Our responsibility is to issue a report on these consolidated financial statements based on our review.
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the consolidated financial statements are free of material misstatement. A review is limited primarily to
inquiries of company personnel and analytical procedures applied to financial data and thus, provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the Circular No CIR/CFD/CMD 1/44/2019 dated 29% March 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of Listing Regulations, to the extent applicable.
-
- The Consolidated Statement includes the results of M/s Paithan Mega Food Park Private Limited, an associate company.
-
- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of consolidatd unaudited financial results prepared in accordance with applicable accounting standards except as mentioned in para 6 below in the Basis for qualified opinion and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
-
- Basis for qualified opinion:
- In respect of inter-corporate Loans / Advances, prima-facie, the company has not complied with the provisions of section 186 of the Act, in as much as these are interest free loans granted to certain parties.
& fr 50 J Ra ns Wit
For Ashok R Majethia Chartered Accountants Proprietor M No: 124781 UDIN: 21124781AAAAAE3045
Place: Aurangabad Date: 13 February 2021
Annexure- (V)
Agri-Tech (India) Limited
Appointment of Mr. Madhukar Deshpande (DIN-07630081) as Independent Director (additional).
| @Q agritech | |
|---|---|
| DeshpandeMadhukarAppointment of Mr.(additional). | Agri-Tech (India) LimitedIndependent Director(DIN-07630081)as |
| Date of Appointment | 13th February 2021 |
| Designation | Independent Director (additional) |
| Terms. and Condition | Regular |
| Brief Profile and Experiences | Mr. Deshpande an agriculturist, is anindividual of immense potential he isCommerceGraduate.He has over 37 years of rich experienceAgriculture,andtheinfield..ofManagement with variouscompaniesin agriculture sector.He is also having Immense experienceProcessing,Store,thefieldofin |
| AssuranceandQualityLogistics,ofDepartmentProductionVariouswithIndustries.Graduate | |
| Qualification |
Reconstitution of Committees.
| @ agritech} | |
|---|---|
| (CIN LO1110MH1993PLC073268) | |
| (Annexure-VI) | |
| Reconstitution of Committees. | |
| Reconstitution of Committees as follows. | |
| 1. | Audit Committee |
| Sr. No Name of Committee Member | |
| l_ | Mr. Madhukar Deshpande- Chairperson |
| {bo | Mr. Shrirang Agrawal -Member |
| G3 | Mr. Satish Kagliwal -Member |
| 2. | Stakeholders Relationship Committee. |
| Sr. No Name of Committee Member | |
| 1 | Mr, Madhukar Deshpande- Chairperson |
| 2 | Mr. Shrirang Agrawal -Member |
| 3' | Mr. Satish Kagliwal -Member |
| 3. | Nomination and Remuneration Committee. |
| ele No. | Name of Committee Member |
| 1_ | Mr. Madhukar Deshpande- Chairperson |
| o- | Mr. Vadla Nagbhushanam -Member Mr. Shrirang Agrawal -Member |
2. Stakeholders Relationship Committee.
| Sr. No Name of Committee Member | |
|---|---|
| 1 | Mr, Madhukar Deshpande- Chairperson |
| 2 | Mr. Shrirang Agrawal -Member |
| 3' | Mr. Satish Kagliwal -Member |
3. Nomination and Remuneration Committee.
| ele No. | Name of Committee Member |
|---|---|
| 1_ | Mr. Madhukar Deshpande- Chairperson |
| o- | Mr. Vadla Nagbhushanam -Member |
| 3' | Mr. Shrirang Agrawal -Member |
Nath House, Nath Road, Aurangabad-431005 (MS) NATH Tel:0240-6645555 E-mail: [email protected] 1 Web.: www.agri-tech.in GROWP
