Aro Granite Industries Ltd. — Interim / Quarterly Report 2022

Aug 13, 2021

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Aro granite indust�ies ltd.

Date: 13.08.2021

Bombay Stock Exchange Limited Department of Corporate Services Floor 25, P.J. Towers Dalal Street Mumbai 400001 (SCRIP CODE: 513729)

National Stock Exchange of India Limited Listing Department 5th Floor, Exchange Plaza Sandra (E) Mumbai 400051 (SCRIP CODE: AROGRANITE/EQ)

Re: Information pursuant to regulation 30(2) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

Dear Sir,

In furtherance to our letter dated 03.08.2021, we wish to inform you that the Board of Directors of the Company has approved the Audited Accounts of the Company for the quarter ended 30.06.2021

The meeting commences at 12.15 P.M. and concluded at 1.45 P.M.

Kindly take this declaration on your record.

Thanking you,

Yours faithfully For Aro granite industries ltd.

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Encl.: Copy of Audited Financial Results and Auditors' Report

CORP OFF. & WORKS

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KONERIPALLI VILLAGE. SHOOLAGIRI TALUK, HOSUR • 635 1 I 7. KRISHNAGIRI DIST. TAMIL NADU, INDIA. TEL 91 · 4344 • 252100 FAX · 91 · 4344 • 25221 7 E-mail : aro@arotile com Web : www.arotile.com CIN L74899Dl 1988PLC0315 IO

ARO GRANITE INDUSTRIES LIMITED

(100% Export Oriented Unit) Regd Office: 1001, 10th Floor, DLF Tower A, Jasola, New Delhi - 110025. CIN - l74899DL1988PLC031510

STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 30[rn ] JUNE, 2021

				Amount	in Rs lakh
				Quarter ended		Year ended
SI No		Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
			Audited	Audited	Audited	Audited
	1	Income from operations	5,415.92	5,602.39	2,831.20	17,937.43
	2	Other Income	13.17	23.74	12.87	63.22
	3	Total Income (1 + 2)	5,429.08	5,626.13	2,844.07	18,000.65
	4	Expenses
		Cost of Material Consumed	3,114.50	3,428.77	1,326.60	10,171.95
		Purchase of Stock-In-Trade	32.39	88.35	7.13	182.11
		Changes in Inventories of Finished goods,
		Work-in-progress and others	(242.10)	(390.30)	(36.20)	(75L62)
		Employee benefits expenses	429.88	422.87	344.60	1,748.47
		Finance costs	159.30	157.88	147.61	538.12
		Depreciation and amortiZation expenses	317.12	310.72	263.94	1,106.90
		Other Expenses	1,303.24	1,227.27	750.18	4,206.96
		Total Expenses	5,114.34	5,245.56	2,803.85	17,202.89
	5	Profit before excepf1onal items & tax (3-4)	314.75	380.57	40.22	797.76
	6	Exceptional Items	-	-
	7	Profit before Tax (5-6)	314.75	380.57	40.22	797.76
	8	Tax Expenses
		Current Tax	52.54	63.52	6.71	133.16
		Less : Mat Credit Entitlement	(52.54)	(131.47)	(6.71)	(133.16)
		Deferred Tax	18.10	171.43	6.19	192.95
	9	Profit/(loss) for the period_I_year from Continuing Operation(7-8)
			296.65	277.08	34.03	604.81
	10	Profit/(loss) for the period_I_year from Discontinuing Operation
	11	Tax Expenses of Discontinuing Operation	- -	- -	-	--
	12	Profit/(loss} for the period_I_year from Discontinuing Operation {10-11)
			-
	13	Profit/{loss} for the period/year {9+ 12)	296.65	277.08	34.03	604.81
	14	Other Comprehensive Income (after tax)	2.64	6.93	(0.13)	10.60
	15	Total Comprehensive Income {after tax) (13+14)	299.29	284.01	33.90	615.42
	16	Paid up Equity Sbare Capital	1,530.00	1,530.00	1,530.00	1,530.00
	17	(Face Value: ! 10 per Share) Other Equit	-	-	-	17,234.10
	18	Earning per Equity Share (for continuing operation)
		Basic (In Rs.)	1.96	1.86	0.22	4.02
		Diluted (In Rs.)	1.96	1.86	0.22	4.02
	19	Earning per Equity Share {for Discontinuing operation)
		Basic {In Rs.)	-			-
		Diluted (In Rs.)	-		-
	20	Earings per equity share for continued operation
		Basic (In Rs.)	1.96	1.86	0.22	4.02
		Diluted (In Rs.}	1.96	1.86	0.22	4.02

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LTD.,

ARO GRANITE INDUSTRIES LIMITEO

Standalone Segmentwise Revenue, Results.

Amount in Rs Jakh

ANITE INDUSTRIES LIMITEO one Segmentwise Revenue, Results.	Amount in Rs Jakh	Amount in Rs Jakh	Amount in Rs Jakh
Particulars 1 Segment Revenue a. Quartz Division b. Granite Slabs/Tiles Division c. Unallocated Segment less: Inter Segment Revenue Total Revenue from Operations 2Segment Results a. Quarz Division b. Granite S!abs/Ti!es Division Total Segment Results less: (i) Finance Cost (i)Net unallocated expenditure/(income) Total Profit Before Tax	30.06.2021 Audited 585.68 4,843.40 . 5,429.08 . Quarter ended 31.03.2021 30.06.2020 Audited Audited 230.09 5,396.04 2,844.07 . . 5,626.13 2,844.07 . .			Year ended 31.03.2021 Audited 230.09 17,770.56 18,000.65 .
	5,429.08 48.31 425.74 474.05 159.30 .	5,626.13 (19.93) 558.38 538.45 157.88 .	2,844.07 . . .	18,000.65 (19.93) 1,355.81 1,335.88 538.12
	314.75	380.57	.	797.76

Note - The Quartz Production started on 18th Jan 2021, the reporting requirement of Segmental reporting not applicable in the Quarter ended June,30 2020.

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For

LTD.,

'

Notes:

1. The above audited Standalone Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 13[th ] August 2021. These results have been audited by the Statutory Auditor of the Company who has issued an unqualified opinion thereon.

2. These audited Standalone Financial Results are prepared in accordance with the Indian Accounting Standards (IND AS) as prescribed under Section 133 of the Companies Act read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.

3. The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code wil come into effect has not been notified. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.

4. The Management has made the assessment of possible impact of Covid 19 on its liquidity, recoverable values of its financial & non-financial assets and has concluded that there are no significant adjustments required in the financial results. Further, the Management will continue to closely monitor any material changes to future economic conditions.

5. During the period tre Company is engaged in the business of two segments i.e. 1) Manufacturing of Granite Tiles and Slabs. 2) Manufacturing of Quartz (Engineered) Slabs.

6. Figures for the previous periods I year have been regrouped, wherever necessary, to confirm to the current period's

7. classification.

Date: 13.08.2021

Place: Hosur

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For & on behalf of the Board.
-sd-
C'
;;"' LTD., Sunil Kumar Arora
Managing Director
(DIN 00150668)
��irector
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A : C-42, South Extension Part-II New Delhi - "110 049

YAPS & COMPANY Chartered Accountants

• T : 011-4164141 5 I 41645051

• F : 011-41644896

• W: www.vaps.co.in

• E : info@vaps.co.in

INDEPENDENT AUDITOR'S REPORT ON THE AUDIT OF THE INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF MIS ARO GRANITE INDUSTRIES LIMITED

OPINION

We have audited the accompanying Statement of Standalone Financial Results of Mis ARO GRANITE INDUSTRIES LIMITED ("the Company"), for the quarter ended June 30, 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:

• (i) Is presented in accordance with the requirements of Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

• (ii) Gives a true and fair view in conformity with Indian Accounting Standard 34 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 quarter ended June 30, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143 (10) of the Companies Act, 2013("Act"). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Interim 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 interim standalone financial results under the provisions of the Act and the Rules there under, and we have fulfilled our ethical responsibilities in accordance with these requirements and the !CAi'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.

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Management Responsibilities for the Interim Standalone Financial Results

This Statement, which is the responsibility of the Companfs Management and approved by the Board of Directors, has been compiled from the related audited interim condensed standalone financial statements. The Company's Board of Directors are responsible for the preparation and presentation of the interim 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 Indian Accounting Standard 34 "Interim Financial Reporting[,] , ("Ind AS 34,'), prescribed under section 133 of the Act read with relevant rules issued there under 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 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 interim standalone financial results that give a true and fair view and are free from material misstatements, whether due to fraud or error.

In preparing the interim 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 Interim Standalone Financial Results

Our objectives are to obtain reasonable a urance about whether the interim standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor[,] s report that includes an 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 misstatements when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these interim standalone financial results.

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As a part of an audit in ac ordance 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 interim 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 effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Conclude on the appropriateness of the Board of Director'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 a[r] e required to draw attention in our auditor's report to the related disclosures in the interim standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our Conclusions are based on the audit evidence obtained up to the date or 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 interim standalone financial results, including the disclosures, and whether the interim Standalone financial results represent the underlying transactions and events in a man er that achieves · fair presentation.

Materiality is the magnitude of misstatements in the interim standalone financial result that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the interim standalone financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) plan ing 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 interim standalone financial results.

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We communicate with those charged with governance regarding, among other matters, the plan ed 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 al I relationships and other matters that may reasonably be thought to bear on our independence,· and where applicable, related safeguards.

For V APS & COMPANY Chartered Accountants �[gn. No. 03612N ] \ [! ][<;:)--] raveen Kumar Jain) Partner M.N.: 082515

Place: Hosur, Tamilnadu Date: August 13, 2021 UDIN: 21082515AAAADl3519