Ahlada Engineers Limited — Annual Report 2020

Jun 27, 2020

To National Stock Exchange of India Ltd, Exchange Plaza, C-1 Block G Bandra Kurla Complex, Bandra (E), MUMBAI-400 051

Scrip Symbol: AHLADA

Dear Sir/Madam,

Sub: Outcome of the Board Meeting of the Company held on 27th June, 2020 - Reg.

This is to inform that, the following items were considered and approved by the Board of Directors of the Company at their meeting held on 27th June, 2020:

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• 1. The Audited Financial Results of the Company for the half year and year ended 31st March, 2020 along with Statutory Auditor's Report, Statement of Assets and Liabilities and cash flow statement for the half year ended 31st March, 2020.
• 1. Resignation of Smt. Sravanthi Koduru as Director of the Company w.e.f.27.06.2020 due to pre-occupations in varied activities.
• 1. Re-appointment of M/s. Vennapusa & Sunkara, Chartered Accountants, Hyderabad as Internal Auditors of the Company for the financial year 2020-2021.
• 1. Re-appointment of M/s. VCSR & ASSOCIATES, Company Secretaries, Hyderabad as Secretarial Auditors of the Company for the financial year 2020-2021.
• 1. Re-appointment of, M/s. NSV Krishna Rao & Co, Cost Accountants, Hyderabad as Cost Auditors of the Company for the financial year 2020-2021.

The meeting of Board of Directors of the Company concluded at 06.00 P.M.

HYD.

This is for your information and records.

Kindly acknowledge the receipt.

Thanking You,

Yours faithfully, For Ahlada Engineers Limited

Part all

P. Kodanda Rami Reddy Company Secretary & Compliance Officer

Ahlada Engineers Limited

Regd. Office: Door No. 4-56, Sy. # 62/1/A & 67, Tech Mahindra Road, Bahadurpally, Dundigal (Gandimysamma) Mandal, Medchal Dist., Hyderabad - 500 043. Telangana, India. Phone: +91 98665 00811 / 98665 00822, E-mail: engineers@ahlada.com

AHLADA ENGINEERS LIMITED

CIN NO: L24239TG2005PLC047102

Regd. Office: Door No: 4 - 56, Sy No: # 62 / 1 / A & 67, Tech Mahindra Road, Bahadurpally, Dundigal (Gandimysamma) Mandal, Medchal Dist, Hyderabad - 500 043

- Audited Financial Results for the Half Year and Year ended March 31, 2020

	(Amt in Rs. Lakhs)
	HALF YEAR ENDED			Year Ended
Particulars	31-03-2020(Audited)	30-09-2019(Unaudited)	31-03-2019(Audited)	31-03-2020(Audited)	31-03-2019(Audited)
Income from Operations
(a) Net Sales/Income from Operations	5,837.69	5,208.48	11,071.88	11,046.17	20,743.27
(b) Other Operating Income	9.43	8.48	14.89	17.91	26.63
Total income from Operations (net)	5,847.12	5,216.96	11,086.77	11,064.08	20,769.91
Expenses
(a) Cost of Materials consumed	2,786.99	2,355.90	4.976.64	5,142.88	12,438.60
(b) Purchase of stock-in-trade
(c) Changes in inventories of finished goods, work-in-progressand stock-in-trade	86.06	109.04	681.06	195.10	781.47
(d) Employee benefits expense	596.22	483.66	1,136.94	1,079.88	1,324.89
.(e) Finance Costs	238.13	280.53	832.03	518.67	888.67
(f) Depreciation and amortisation expense	506.61	477.83	362.83	984.44	702.41
(g)Other expenses(Any item exceeding 10% of the total expensesrelating to continuing operations to be shown separately)	1,182.21	1,062.96	2,261.66	2,245.17	2,821.40
Total Expenses	5,396.22	4,769.91	10,251.16	10,166.13	18,957.44
Profit / (Loss) Before Prior Period Items	450.90	447.05	835.61	897.95	1,812.47
Prior Period Items
Profit / (Loss) After Prior Period Items	450.90	447.05	835.61	897.95	1,812.47
Profit / (Loss) Before Exceptional and Extraordinary Items andTax	450.90	447.05	835.61	897.95	1,812.47
Exceptional Items
Profit / (Loss) Before Extraordinary Items and Tax	450.90	447.05	835.61	897.95	1,812.47
Extraordinary Items
Profit Before Tax	450.90	447.05	835.61	897.95	1,812.47
Total Tax Expense	152.71	99.48	400.20	252.19	675.66
Less: Current Tax	67.70	112.01	212.32	179.72	390.56
Less Mat Credit entitlement	$-27.51$			$-27.51$
Less Prior Year Tax	35.93			35.93
Less: Deferred Tax	76.59	$-12.54$	187.87	64.05	285.10
Profit/ (Loss) from Discontinued Operations
Tax Expense from Discontinued Operations
Profit/(Loss) after tax for the period / year	298.19	347.57	435.41	645.77	1,136.81
Paid Up Equity Share Capital (Face Value of Rs.10/- each)	1,292.10	1,292.10	1,292.10	1,292.10	1,292.10
Reserves excluding Revaluation Reserves	10,107.49	9,809.30	9,618.29	10,107.49	9,618.29
Earnings Per Equity share (Not Annualised)
(1) Basic	2.31	2.69	3.37	5.00	8.80
(2) Diluted	2.31	2.69	3.37	5.00	8.80

For KISHORE & VENKAT ASSOCIATES

Chartered Accountants Jenkar Firm Regd. No: 001807S Chartered Ø $\overline{O}$ Accountants Ċ N (M V RAMANA REDDY Partner M No: 026845 Place: Hyderabad

Date: 27.06.2020

For and on behalf of the Board

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CH. SURESH MOHAN REDDY Managing Director

DIN:00090543 $\Lambda\mathcal{U}$

A. NARASIMHA RAO Chief Financial Officer

CH KINNERA Wholetime Director

DIN:08272661

P.KODANDARAMI REDDY

Company Secretary & Compliance Officer

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M/S. AHLADA ENGINEERS LIMITED CIN NO: L24239TG2005PLC047102

Regd. Office: Door No: 4 - 56, Sy No: #62 / 1 / A & 67, Tech Mahindra Road, Bahadurpally, Dundigal (Gandimysamma) Mandal, Medchal Dist, Hyderabad - 500 043

Statement of Assets & Laibilities for the Half Year and Year ended March31, 2020

Particulars		Half Year Ended	Year Ended
	As at 31.03.2020Audited	As at 30.09.2019Un-audited	As at 31.03.2020Audited	As at 31.03.2019Audited
EQUITY AND LIABILITIES
1. Share Holders Funds
a) Share Capital	1,292.10	1,292.10	1,292.10	1,292.10
b) Reserve and Surplus	10,107.49	9,809.30	10,107.49	9,618.29
c) Money received against share warrants
2. Non-current liabilities
(a) Long-term borrowings	1,112.67	1,233.24	1,112.67	1,647.76
(b) Deferred tax liabilities (net)	427.49	350.90	427.49	363.44
(c) Other long-term liabilities
(d) Long-term provisions	75.23	65.82	75.23	74.92
3. Current liabilities
(a) Short-term borrowings	1,838.63	1,464.24	1,838.63	2,763.99
(b) Trade payables	1,619.13	1,436.34	1,619.13	1,803.62
(c) Other current liabilities	807.81	1,271.73	807.81	2,836.94
(d) Short-term provisions	164.86	137.44	164.86	415.99
	17,445.41	17,061.11	17,445.41	20,817.06
BASSETS
1. Non-current assets
(a) Fixed assets
(i) Tangible Assets	10,046.52	6,648.12	10,046.52	7,148.28
(ii) Intangible Assets
(iii) Capital Work In Progress	686.34	74.52	686.34	732.65
(b) Non Current Investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances
(e) Other non-current assets	342.70	400.13	342.70	457.56
Current assets
(a) Current investments
(b) Inventories	2,382.44	2,342.92	2,382.44	2.433.39
(c) Trade receivables	3,069.38	2,878.61	3,069.38	8,284.46
(d) Cash and cash equivalents	157.60	144.65	157.60	142.06
(e) Short-term loans and advances	760.44	1,872.17	760.44	1,618.65
(f) Other current assets
	17;445.41	17,061.11	17,445.41	20.817

For KISHORE & VENKAT ASSOCIATES

Chartered Accountants Firm Regd. No: 0018075

(M V RAMANA REDDY) Partner M No: 026845 Place: Hyderabad Date: 27.06.2020

For and on behalf of the Board

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CH. SURESH MOHAN REDDY Managing Director

DIN:00090543

A. NARASIMHA RAO

Chief Financial Officer

CH KINNERA Wholetime Director DIN:08272661

PORR

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P.KODANDARAMI REDDY Company Secretary & Compliance Officer

Notes to the audited Financial Results for the Half Year and Year ended March 31, 2020
1) The Financial Results have been prepared in accordance with the Generally Accepted Accounting Standards as notified underSection 133 of the Companies Act 2013 ("Act"), read there under and other accounting principles generally accepted in India asamended from time to time.
2) The above Audited Financial Results were duly reviewed by Audit Committee and were approved by the Board of Directors attheir meeting held on 27-06-2020. The Audit Report has been filed with Stock Exchange and is available on the Company'swebsite. The Half year and Year ended Financial results are available on the website of www.nseindia.com/emerge and theCompany's website viz. www.ahlada.com
3) The company doesnot have separate reportable segments as per the Accounting Standard 17 on "Segment Reporting'notified under Companies (Accounting Standard) Rules, 2014.
there are no pending requests/grievances.		4) The Company has received Nil requests/grievances from the shareholders during the half yearly ended March 31, 2020 and
5) Discount Allowed (Bad debts written off) to the extent of Rs. 12.65 Lakhs were duly reviewed by Audit Committee andapproved by the Board of Directors.
6) The Company incurred an amount of Rs. 564.86 lakhs towards IPO expenses during the year 2018 - 19. This will beamortized over a period of five years.
necessary.		7) Figures of the previous year/period have been regrouped and/or re-classified or recast or re-arranged wherever considered
For KISHORE & VENKAT ASSOCIATES	For and on behalf of the Board
Chartered Accountants at
Firm Regd. No: 001807Sed	$c_{k,9}$ or Read	4. Kinnery
: (Accountants)	CH. SURESH MOHAN REDDY	CH KINNERA
	Managing Director	OA EN Wholetime Director
(M V RAMANA REDDY)	DIN:00090543	DIN:08272661
Partner
M No: 026845
Place: Hyderabad	A NARASIMHA RAO	P.KODANDARAMI REDDY
Date: 27.06.2020	Chief Financial Officer	Company Secretary & Compliance Officer

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AHLADA ENGINEERS LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31st March 2020

Regd. Office: Door No: 4 - 56, Sy N0: 62 / 1 / A & 67, Tech Mahindra Road, Bahadurpally Village, Quthbullapur Mandal, Ranga Reddy Dist, Hyderabad - 500 043, Telangana.

CIN No: L24239TG2005PLC047102

	(Rs. In Lakhs)
Particulars	31.03.2020	31.03.2019
A. Cash Flow from Operating Activities
Profit before Tax	897.95	1,812.46
Adjustments for:	$\blacksquare$
Depreciation	984.44	702.41
Financial Charges	518.67	888.67
Interest Income	$-14.52$	$-20.00$
Preliminary / IPO expenses writtenoff	114.86	1.89
Income from mutual funds$\mathcal{F} \geq \mathcal{F}$		$-0.07$
Profit on Sale of Fixed Assets	$-6.68$	$-6.56$
Operating profit before working capital changes	2,494.71	3,378.80
Changes in working capital:
(Increase)/ Decrease in Inventories	50.95	1,873.91
(Increase)/ Decrease in Receivables	5,215.08	$-4,727.97$
(Increase)/ Decrease in Short term loans & advances	858.21	$-541.10$
Increase / (Decrease) in Trade payables	$-184.50$	$-872.68$
Increase / (Decrease) in Long term provisions	0.31	23.27
Increase / (Decrease) in Short term provisions	$-12.77$	19.17
Increase / (Decrease) in other Current Liabilities	$-2,029.13$	$-183.81$
Cash generated from operations	6,392.86	$-1,030.41$
Income tax paid	$-426.49$	$-366.37$
Net cash generated from/(used in) operating activities	5,966.37	$-1,396.78$
B. Cash Flow from Investing Activities:
Purchase of Fixed Assets including Capital WIP	$-3,861.76$	$-3,225.33$
Decrease / (Increase) in Other non current assets	114.86	$-450.00$
Sale of Fixed Assets	32.08	37.00
Other Income and income from mutual funds	14.52	20.07
Preliminery expenses writtenoff	$-114.86$	$-1.89$
Net cash generated from/(used in) investing activities	$-3,815.15$	$-3,620.16$
C. Cash Flow from Financing Activity
Increase / (decrease) in Long Term Borrowings	$-535.09$	$-782.38$
Increase / (decrease) in Short Term Borrowings	$-925.35$	479.02
Interest paid	$-518.67$	$-888.67$
Corporate Dividend	$-156.57$
Increase in Share capital		416.50
Increase in Share Premium		5,709.40
Net cash generated from/(used in) financing activities	$-2,135.68$	4,933.87
D. Net Increase/(Decrease) in Cash and Cash Equivalents	15.54	$-83.07$
Cash and Cash Equivalents at the beginning of the year	142.06	225.13
Cash and Cash Equivalents at the end of the year	157.60	142.06
Cash and cash equivalents comprise of:
Cash on hand	0.69	2.66
Bank balances
- in current accounts	3.21
- in deposit accounts		8.73
Total	153.70	130.68142.06
	157.60
As per our report of even date attached

For KISHORE & VENKAT ASSOCIATES,

Chartered

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(M V RAMANA REDDY) Partner M.No: 026845 Place : Hyderabad Date: 27.06.2020

For and on behalf of the Board

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CH. SURESH MOHAN REDDY Managing Director DIN:00090543

ENKINNERA CHEEDEPUDI Wholetime Director DIN:08272661 HYD

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$\overline{u}$ A. NARASIMHA RAO Chief Financial Officer

P.KODANDARAMI REDDY Company Secretary & Compliance Officer

KISHORE & VENKAT ASSOCIATES

CHARTERED ACCOUNTANTS

Auditor's Report on Half-Yearly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To Board of Directors of M/s. Ahlada Engineers Limited. Hyderabad-500043

We have audited the Half-Yearly financial results of Ahlada Engineers Limited for the Half-Year ended 31.03.2020 and the year to date results for the period 01st April, 2019 To 31st March, 2020 attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These Half-Yearly financial results as well as the year to date financial results have been prepared on the basis of the interim financial statements, which are the responsibility of the company's management. Our responsibility is to express an opinion on these financial results based on our audit of such interim financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard for Interim Financial Reporting (AS 25 / Ind AS 34), prescribed, under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder; or by the Institute of Chartered Accountants of India, as applicable and other accounting principles generally accepted in India.

We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatement(s). An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. 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 given to us these Half-Yearly financial results as well as the year to date results:

• are presented in accordance with the requirements of Regulation 33 of the SEBI $(i)$ (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 Half-Year-ended 31st March, 2020 as well as the year to date results for the period from 01st April, 2019 To 31st, March, 2020.

FOR KISHORE & VENKAT ASSOCIATES Chartered Accountantska

Firm Regd.No:001807S Chartered Accountants M.V.RAMANA RED Partner M.No: 026845 Place: Hyderabad Date: 27.06.2020

UDIN: 20026845AAAAAM4534

To National stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai-400051 Scrip Symbol: AHLADA

Dear Sir,

Sub: Declaration with respect to Auditor's Report with Unmodified Opinion

$x \rightarrow$

Pursuant to Regulation 33 (3) (d) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby declare that Statutory Auditors of the Company, M/s. Kishore & Venkat Associates, Chartered Accountants have issued an Audit Report with unmodified opinion on Audited Financial Results of the Company for the half year and year ended 31st March, 2020.

We request you to take above information on record.

Thanking You

Yours Faithfully, For Ahlada Engineers Limited

HYD. P. Kodanda Rami Reddy Company Secretary & Compliance Officer

Ahlada Engineers Limited

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Regd. Office: Door No. 4-56, Sy. # 62/1/A & 67, Tech Mahindra Road, Bahadurpally, Dundigal (Gandimysamma) Mandal, Medchal Dist., Hyderabad - 500 043. Telangana, India. Phone: +91 98665 00811 / 98665 00822, E-mail: engineers@ahlada.com