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Archies Ltd. Interim / Quarterly Report 2021
62096_rns_2020-08-28_0f7758a2-85b2-4cc2-8f8a-ef4d2ff9373b.pdf
Interim / Quarterly Report
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Date: za" August, 2020
| 1) Asst. President, | 2) The Listing Department, | |||
|---|---|---|---|---|
| Listing Department, | Corporate Relationship Department, | |||
| National Stock Exchangeof India Limited, | BSELimited, | |||
| ExchangePlaza,C-l, Block-G, | st Floor,1New Trading Wing, PJ. Towers, | |||
| Bandra Kurla Complex, | Dalal Street Fort, Mumbai-400001 | |||
| Bandra (East), Mumbai-400051 | ||||
| Scrip 10 - ARCHIES | Scrip Code - 532212 |
Sub: Submission of Outcomes of Board Meeting and Un-Audited Financial Results for the quarter and three months ended 30th June, 2020
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- Intimation and disclosure under Regulations 30 & 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for Un-Audited Financial Results and Limited Review Report for the quarter and three months ended 30.06.2020
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- Appointment of Mr. Kamlesh Thakur as Chief Financial Officer of the Company with effect from 28.08.2020
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- Appointment of Mr. Anil Moolchandani as Chairman & Managing Director of the Company with effect from 28.08.2020
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- Re-appointment of M/s Dayal & Maur, Company Secretaries, New Delhi as Secretarial Auditors of the Company for the Financial Year 2020-21
-
- Reconstitution of Composition of Corporate Social Responsibility Committee of the Company as under with immediate effect:
- a. Mr. Sunil Behl, Chairman (Non-Executive & Independent Director)
- b. Mr. Anil Moolchandani, Member (Promoter & Managing Director)
- c. Mr. Jagdish Moolchandani, Member (Promoter & Executive Director)
-
- Reconstitution of Composition of Stakeholders Relationship Committee of the Company as under with . immediate effect:
- a. Mr. Arun Singhal, Chairman (Non-Executive & Independent Director)
- b. Mr. Anil Moolchandani, Member (Promoter & Managing Director)
- c. Mr. Jagdish Moolchandani, Member (Promoter & Executive Director)
Dear Sir/ Madam,
Pursuant to Regulation 30 alld 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of Archies Limited ("Company") in its meeting held today approved the Un-Audited Financial Results (Standalone) for the Quarter and three months ended so" June, 2020 of the Company as per Indian Accounting Standards (IND-AS) along with the Independent Auditor's Report. Copy of the results along with the Limited Review Report of Statutory Auditors is attached herewith for your perusal.
Further due to the applicable provisions of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013, following approvals has been accorded in Board Meeting held today:
-
- Appointment of Mr. Kamlesh Thakur as Chief Financial Officer of the Company with effect from 28.08.2020
-
- Appointment of Mr. Anil Moolchandani as Chairman & Managing Director of the Company with effect from 28.08.2020
ARCHIES LIMITED
C-113, NARAINAINDUSTRIALAREA. PHASE· 1, NEW DELHI-11oo28 ONDlA}, CIN: L36999HR1990PLC041175 TEL.: 91-11-4141סס00, 41412222. Fax: 91·11-41410060, Email: [email protected],Website: www.archlesonline.com REGISTERED OFFICE: PLOT NO. 191- F.SECTOR- 4. I.M.T. MANESAR. GURUGRAM -122050, HARYANA ONDlA)
-
- Re-appointment of MIs Dayal & Maur, Company Secretaries, New Delhi as Secretarial Auditors of the Company for the Financial Year 2020-21
-
- Reconstitution of Composition of Corporate Social Responsibility Committee of the Company as under with immediate effect:
- d. Mr. Sunil Behl, Chairman (Non-Executive & Independent Director)
- e. Mr. Ani! Moolchandani, Member (Promoter & Managing Director)
- f. Mr. Jagdish Moolchandani, Member (Promoter & Executive Director)
- S. Reconstitution of Composition of Stakeholders Relationship Committee of the Company as under with immediate effect:
- d. Mr. Arun Singhal, Chairman (Non-Executive & Independent Director)
- e. Mr. Ani! Moolchandani, Member (Promoter & Managing Director)
- f. Mr. Jagdish Moolchandani, Member (Promoter & Executive Director)
The above information will also be available on the Company's Website, www.archiesonline.com .
The meeting of the Board of Directors commenced on 12:00 Noon and concluded at 01:25 P.M.
Please take the above on records.
Thanking you.
Yours sincerely
Hitesh Kumar (Company Secretary & Compliance Officer)
ARCHIES LIMITED
C -113, NARAINA INDUSTRIAL AREA. PHASE-1. NEW DELHI-110028 QNDIA). CIN : l36999HR1990PLG041175 TEL: 91-11-4141סס00. 41412222. Fax: 91-11-41410060. Email: [email protected], Website: www.archlesonline.com REGISTERED OFFICE: PLOT NO. 191-F. SECTOR- 4. I.MT. MANESAR. GURUGRAM -122050. HARYANA ONDIA)
J.P., KAPUR & UBERAI CHARTERED ACCOUNTANTS
· 49937
LOWER GROUND FLOOR C-4/5 SAFDARJUNG DEVELOPMENT ARF.A NEW DELHI - 110016 PHONES : 49562700 (20 hnes) TELEFAX: 2651115R E-MAIL: [email protected]
LIMITED REVIEW REPORT
REVIEW REPORT TO THE BOARD OF DIRECTORS ARCIDES LIMITED
-
- We have reviewed the accompanying statement of unaudited financial results of ARCHIES LIMITED ("the Company"), 19IF, Sector-4, IMT Manesar, Gurugram, Haryana-122050 for the quarter and three months ended June 30, 2020 ("the Statement").This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review.
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- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 24 I0, "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 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 accompanying statement of unaudited financial results prepared in accordance with applicable Indian Accounting Standards ("Ind AS") and other recognised 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.
Place: New Delhi
For and on behalf of J. P., KAPUR & UBERAI Chartered Accountants (Firm Registration No. 000593N)
H. S. Khurana PARTNER
Date: 28/0812020 (Membership No. 017779) 12. 0- 5 ':> LJDlro: 2-ool"'i"19Af>tAC. ~
ARCHIES LIMITED
Statement of Unaudited financial results for the quarter ended 30 June 2020
| (~ in Lakhs) | |||||||
|---|---|---|---|---|---|---|---|
| QuarterEnded | Year Ended | ||||||
| S.No. | PARTICULARS | 30.06.2020 | 31.03.2020 | 30.06.2019 | 31.03.2020 | ||
| Unaudited | Audited | Unaudited | Audited | ||||
| Income: | 154.23 | 2989.38 | 3047.80 | 13541.59 | |||
| a. | Income from Operations | 1.61 | 71.66 | 85.95 | 390.20 | ||
| b. | Other Operating Income | 155.84 | 3061.04 | 3133.75 | 13931.79 | ||
| I | Revenue from operations | 462.50 | 39.05 | 45.40 | 177.19 | ||
| II | Other Income | 618.34 | 3100.09 | 3179.15 | 14108.98 | ||
| III | Total Income(I + II) | ||||||
| IV | Expenses | 235.13 | 301.19 | 1041.10 | |||
| a. | Cost of Materials Consumed | 30.142.20 | 536.11 | 1260.49 | 4789.46 | ||
| b. | Purchase of Stock-in-Trade | (5.26) | 201.20 | (509.89) | (707.43) | ||
| c. | Changes in inventories of finished goods,work-in-progressand stock-in-trade | ||||||
| d. | Employee benefits expense | 178.26 | 668.62 | 855.88 | 3029.22 | ||
| e. | Finance costs | 211.80 | 184.42 | 71.41 | 958.41 | ||
| f. | Depreciationand amortisationexpense | 463.18 | 251.46 | 566.49 | 1842.01 | ||
| g. | Rent | 31.38 | 279.12 | 130.11 | 639.61 | ||
| h. | Other expenses | 146.84 | 894.09 | 842.26 | 3538.51 | ||
| Total Expenses | 1058.54 | 3250.15 | 3517.94 | 15130.89 | |||
| V | Profit 1 (Loss)before exceptionaland extraordinary | (440.20) | (150.06) | (338.79) | (1021.91) | ||
| items and tax (III - IV) | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VI | Exceptional Items | ||||||
| VII | Profit 1 (Loss)before extraordinaryitems andtax (V - VI) | (440.20) | (150.06) | (338.79) | (1021.91) | ||
| VIII | ExtraordinaryItems | 0.00 | 0.00 | 0.00 | 0.00 | ||
| IX | Profit 1 (Loss)before tax (VII - VIII) | (440.20) | (150.06) | (338.79) | (1021.91) | ||
| X | Tax expense: | ||||||
| a. | Current tax | 0.00 | 0.00 | 0.00 | 0.00 | ||
| b. | Deferred tax | (121.02) | (419.75) | (107.47) | (312.43) | ||
| c. | MAT Credit Entitlement | 0.00 | 0.00 | 0.00 | '0.00 | ||
| d. | (Excess)! Short Provision for taxes for earlier years | 0.10 | 8.10 | 0.00 | 8.10 | ||
| XI | Profit!(Loss) for the period(IX - X) | (319.28) | 261.59 | (231.32) | (717.58) | ||
| XII | Other ComprehensiveIncome | ||||||
| A. | Item that will not be reclassifiedsubsequentlyto profitor loss | ||||||
| RemeasurementsGains!(Losses) of defined benefit plans | (10.36) | (91.66) | (3.48) | (102.10) | |||
| Income tax on above | 2.88 | 25.69 | 0.97 | 28.40 | |||
| Items that will be reclassifiedsubsequentlyto profitor | |||||||
| B. | |||||||
| lossIncome tax relatittg to items that will be reclassified | |||||||
| subsequentlyto profit or loss | 0.00 | 0.00 | 0.00 | 0.00 | |||
| Total of Other Comprehensiveincome | (7.48) | (65.97) | (2.51) | (73.70) | |||
| XIII | Total Comprehensiveincomefor the period(XI+XII) | (326.76) | 195.62 | (233.83) | (791.28) | ||
| (ComprisingProfit and Other ComprehensiveIncome for the | |||||||
| period) | 675.62 | 675.62 | 675.62 | 675.62 | |||
| XIV | Paid up EquityCapital(Face Value of Rs. 2/- each) | - | - | - | 9,022.86 | ||
| XV | ReservesexcludingrevaluationreservesEarningPer Share (EPS) in Rs. (Not Annualised) | ||||||
| XVI | a. Basic | (0.95) | 0.77 | (0.68) | (2.12) | ||
| b. Diluted | (0.95 | 0.77 | (0.68\ | (2.12\ |
See accompanying notes to the financial results
~IMITED
C -113, NARAINA INDUSTRIAL AREA, PHASE -1, NEW DELHI-11 0028 (INDIA), CIN : L36999HR1990PLC041175 TEL.: 91-11-41410000, 41412222, Fax: 91-11-41410060, Email: [email protected], Website: www.archiesonline.com REGISTERED OFFICE: PLOT NO. 191- F,SECTOR- 4, I.M.T. MANESAR, GURUGRAM -122050, HARYANA (INDIA)
ARCHIES LIMITED
Segment wise Revenue, Results and Capital Employed
| (~ in Lakhs) | ||||||
|---|---|---|---|---|---|---|
| QuarterEnded | ||||||
| S.No. | Particulars | 30.06.2020 | 31.03.2020 | 30.06.2019 | 31.03.2020 | |
| Unaudited | Audited | Unaudited | Audited | |||
| 1 | seamentRevenue | |||||
| a | Greeting Cards | 8.81 | 448.23 | 402.71 | 1,816.98 | |
| b | Stationery | 45.30 | 603.17 | 578.21 | 2,678.36 | |
| c | Gifts | 84.28 | 1,867.52 | 2,016.29 | 8,756.30 | |
| d | Others | 15.84 | 70.46 | 50.59 | 289.95 | |
| Total | 154.23 | 2,989.38 | 3,047.80 | 13,541.59 | ||
| Less: Inter SegmentRevenue | - | - | - | - | ||
| Net Sales I Incomefrom Operations | 154.23 | 2,989.38 | 3,047.80 | 13,541.59 | ||
| 2 | secmentResults | |||||
| Profit / (Loss) before tax and finance costs | ||||||
| a | Greeting Cards | (12.55 | 95.13 | (25.03 | 161.88 | |
| b | Stationery | (2.70 | 188.43 | 24.04 | 350.67 | |
| c | Gifts | (131.83 | (136.41) | (131.37) | (262.12 | |
| d | Others | (3.64 | 28.89 | 3.74 | 40.48 | |
| Total | (150.72) | 176.05 | (128.62) | 290.91 | ||
| Less: i) Finance Costs | 211.79 | 184.42 | 71.40 | 958.41 | ||
| iil Other Un-allocableExpenditure | 77.69 | 141.69 | 138.77 | 354.41 | ||
| net off Un-allocableIncome | ||||||
| Total Profit Before Tax | (440.20) | (150.06) | (338.79) | (1,021.91) | ||
| 3 | CapitalEmploved | |||||
| secmentAsset - SegmentLiabilities) | ||||||
| a | Segment Assets | 22,338.25 | 22,841.58 | 26,221.77 | 22,841.58 | |
| b | Seament Liabilities | 11,655.43 | 11,832.00 | 14,654.74 | 11,832.00 | |
| CapitalEmploved | 10,682.82 | 11009.58 | 11567.03 | 11 009.58 | ||
| Total | 10,682.82 | 11,009.58 | 11,567.03 | 11,009.58 |
Notes
1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 28 August 2020.
2 These financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rule, 2015 prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the ex1ent applicable.
3 Due to the nature of business and common manufacturing facilities for various segments, a reasonable allocation of Capital Employed to various segments is currently not practicable.
4 The Statutory Auditors have carried a Limited Review of the above unaudited financial results.
5 Previous year's figures have been rearranged and regrouped, wherever necessary.
6 The Ministry of Corporate Affairs vide notification dated July 24, 2020, issued an amendment to Ind AS 116 -Leases, by inserting a practical expedient w. r.t "Covid-ts-Related Rent Concessions" effective from the period beginning on or after April 01, 2020. Pursuant to the above amendment, the Company has applied the practical expedient during the quarter ended 30 June 2020 by accounting the unconditional rent concessions of ~ 420.48 Lakh in "Other income" in the Statement of Profit and Loss.
7 The retail industry has been adversely impacted due to COVID-19. The Company has significant headwinds due to COVID-19 impacting the operations of the Company owing to store closures and complete lockdown. The Company's performance for the current quarter has been impacted due to the above. We expect, for the near term, the impact continue to be negative and largely depends on factors such as overall improvement in Covid situation, opening of malls, customer confidence, etc. In this crisis, our priorities are to protect the employees and their families from COVID-19, besides customers visiting our stores and the society associated with it.
8 The Company has begun restoration of store operations from first week of May and has been opening the stores, as permitted by the Government and Local/Regulatory authorities, with controlled movement, maintaining social distancing, taking appropriate hygiene measures and following the directions of regulatory authorities. The Company believes that this pandemic is not likely to impact the recoverability of the carrying value of its assets. The Company is closely monitoring the developments and possible effects that may result from the present pandemic on its financial condition, liquidity and operations and working to minimize the impact of this unprecedented situation.
9 All the salary payable which were due for 01 has been booke nd paid. There is no liability to pay any salary for the 01, consent letters have been taken from employees. Company i In pro ss of getting consent from the landlords and is hopeful that in view of Covid landlords will consent to lower rent, in vie of this t e provision he quarterly results is not made.
Date: 28 August 2020 Place: New Delhi