Avanti Feeds ltd. — Annual Report 2020

Jun 27, 2020

Ref: AFL/BSE & NSE/2020-21/

The Deputy General Manage^r Corporate Relations Departmen^t BSE Limited 1st Floor, New Trading Ring Rotunda Building, P.J. Tower^s Dalal Street, Mumbai.- 400 001

BSE Code: 512573

Aiding Sustainability & Reliability to Aquacultur^e

27-06-2020

National Stock Exc�ange India Ltd. Exchange Plaz^a Bandra (East) Mumbai - 400 051.

NSE Code: AVANTIFEED

Dear Sir,

Sub: AVANTI FEEDS LIMITED - Information to the Stock Exchanges on the decisions of the Board Meeting held on 27.06.2020 - Reg.

* * * ^In pursuance of the SEBI (Listing Obligations & Disclosure Requirement) Regulations, we are to infor^m that the Board of Directors of our Company at its meeting held on 27.06.2020 -

1. Approved the Audited stand alone and consolidated Financial Results for the quarter and yea^{r e}nded 31.03.2020. A copy of Audited Financial Results (Standalone & Consolidated) along wit^h Auditor's Report for the quarter and year ended 31.03.2020 is enclosed. ·

. . . We hereby declare that the Tukaram & Co. LLP, Statutory Auditors of the Company has issued ^audit report. with unmodified opinion on the Consolidated and Standalone Audited Financial Results of the Company for the financial year ended 31" March, 2020.

• 1. Recommended a Final Dividend of Rs.0.10 Ps., per Equity Share of Re. 1/- each fully paid, (i^{n a}ddition to Interim Dividend of Rs.5/- already paid during March, 2020) for the financial year 2019- 20.
• 1. Decided to hold the 271h Annual General Meetinq of the Company on 291h August, 2020.
• ⁴. Decided that on approval of the declaration of dividend by the Members at the Annual Genera^{l M}eeting on 29-08-2020, the above Final Dividend will be. paid to · the Members within th^e prescribed time. ·

^The Board meeting held on 27.06.2020 commenced at 10.30 AM and concluded at04:00 P.M.

^thanking you,

Yours faithfully, for Avanti Feeds Limited

.c.:» Q�,, . ^I - . \c? ' '<i \S:1,.1..�_c .. C .. J., ... DA-'-..Ovu..

C. Ramachandra Rao Joint Managing Director, Company Secretary & CFO Encl: as above

Corporate Ortice: G-2. Concorde Apartments, 6-3-658, ^Somajigud^a. Hyd^erabad-500082, Telangana State. Indi^a. ,+91140) 23310260/61 i!i +91 (40] 233116⁰⁴

a• www.avantiteed^s.co^m

^avantiho!a^avantifeed^s.co^m

^Register^ed Office: Flat No.103, Ground Floor, R Square. Pandurangapurarn, Visakhapatnam - 530003, Andhra Prad^esh, Indi^a. CIN: L 16001AP1993PLC095778

Phones : 2322 1536 : 2322 8785 : 2322 8086

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL CONSOLIDATED FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

To The Board of Directors Avanti Feeds Limited

Opinion and Conclusion

We hav^e(a) ^audited the Consolidated Financial Results for the year ended March 31, 2020 and (b) ^reviewed the Consolidated Financial Results for the quarter ended March 31, 2020 (refer "Othe^r Matters" section below), which were subject to limited review by us, both included in th^{e a}ccompanying "Consolidated Financial Results for the quarter and year ended March 31, 2020" ^of AVANTI FEEDS LIMITED (the "Parent") and its subsidiaries (the Parent and its subsidiarie^s together referred to as the "Group"}, and its share of the net profit after tax and total ^comprehensive loss of its associates for the quarter and year ended March 31, 2020, (th^e "Statement") being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (th^e "listing Regulations"}.

(a) Opinion on Annual Consolidated Financial Result^s

CHARTERED ACCOUNTANTS

In our opinion and to the best of our information and according to the explanations given t^{o u}s, and based on the consideration of the audit reports of the other auditors on financial information of subsidiaries referred to in Other Matters section below, the Consolidated Financial Results for the year ended March 31, 2020:

Name of the Company	Country	Relatjonship
Avanti Frozen Foods Private Limited	India	Subsidiary
Avanti Frozen Foods, INC	USA	Step-Down Subsidiary
Srivathsa Power Projects Private Limited	India	Associate
Patikari Power Private Limited	India	Associate

(i) includes the results of the following entities:

• (ii) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• (iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated net profit and consolidated total comprehensive income and other financial information of the Group for the yea^{r e}nded March 31, 2020. /!'-M &

27/06/2020

3-6-69, Flat No. 209, Venkatarama Towers, Opp. Talwa ars, Basheerbagh, Hyderabad - 500 029. E-mail : tukaramco@gmail.co^m

(b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2020

With respect to the Consolidated Financial Results for the quarter ended March 31, 2020, based on our review conducted and procedures performed as stated in paragraph (b) of Auditor's Responsibilities section below and based on the consideration of the audit reports for the year ended March 31, 2020 of the other auditors referred to in Other Matters section below, nothing has come to our attention that causes us to believe that the Consolidated Financial Results for the quarter ended March 31, 2020, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting .principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Basis for Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2020

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 (the "Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Group, its associates 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 Consolidated Financial Results for the year ended March 31, 2020 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 ICAl's Code of Ethics. We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in Other Matters section below, is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for the Statement

This Statement, which includes the Consolidated Financial Results is the responsibility of the Parent's Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended March 31, 2020, has been compiled from the related audited consolidated financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended March 31, 2020 that give a true and fair view of the consolidated net profit/loss and consolidated other comprehensive income and other financial information of the Group including its associates in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, 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.

The respective Board of Directors of the companies included in the Group and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and its associates 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 respective financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Parent, as aforesaid.

In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group and of its associates are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associates are responsible for overseeing the financial reporting process of the Group and of its associates.

Auditor's Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2020

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the year ended March 31, 2020 as a whole are 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 Consolidated Financial Results.

As part of an audit in accordance 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 Annual Consolidated 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 control 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.
• 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.

• Conclude 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 Group and its associates to continue as a going 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 Consolidated 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 of our auditor's report. However, future events or conditions may cause the Group and its associates to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
• Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations to the extent applicable.
• Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Information of the entities within the Group and its associates to express an opinion on the Annual Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of entities included in the Annual Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Annual Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Parent and such other entities included in the Consolidated Financial Results of which we are the independent auditors 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.

(b) Review of the Consolidated Financial Results for the quarter ended March 31, 2020

We conducted our review of the Consolidated Financial Results for the quarter ended March 31, 2020 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 ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SA specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

The Statement includes the results of the entities as listed under paragraph (a)(i) of Opinion and Conclusion section above.

As part of annual audit, we also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Other Matters

• On account of the COVID-19 related lock-down restrictions, we were not able to physically observe the verification of inventory that was carried out by the Management. Consequently, we have performed alternate procedures to audit the existence of Inventory as per the guidance provided by in SA 501 "Audit Evidence - Specific Considerations for Selected Items" and have obtained sufficient audit evidence to issue our unmodified opinion on these Consolidated Financial Results. Our report on the Statement is not modified in respect of this matter.
• Attention is drawn to Note 5 to the Statement which states that the Consolidated Financial Results includes the results for the Quarter ended March 31, 2020 being the balancing figure between audited figures in respect of the full financial year and the year to date figures up to the third quarter of the current financial year after giving effect of the Scheme as referred in the Note 1 of the financial results which were subject to limited review by us. Our report is not modified in respect of thismatter.
• Attention is drawn to Note 5 to the Statement, the figures for the corresponding quarter ended March 31, 2019 are the balancing figures between the annual audited figures for the year then ended and the year to date figures for the 9 months period ended December 31, 2018. We have not issued separate limited review report on the results and figures for the quarter ended March 31, 2019. Our report is not modified in respect of this matter.
• We did not audit financial information of one of the subsidiaries included in the consolidated financial results, whose financial information reflect total assets of Rs.52,468.90 lakhs as at March 31, 2020 and total revenues of Rs.96,633.40 lakhs for the year ended March 31, 2020, total net profit after tax of Rs.9,949.79 lakhs for year ended March 31, 2020 and total comprehensive income of Rs.9,934.02 lakhs for the year ended March 31, 2020 and net cash flows of Rs.(3,664.15) lakhs for the year ended March 31, 2020, as considered in the Statement. The consolidated financial results also include the Group's share of profit after tax of Rs.41.40 lakhs for the year ended March 31, 2020 and Total comprehensive income of Rs.41.40 lakhs for the year ended March 31, 2020, as considered in the Statement, in respect of associates whose financial information have not been audited by us. These financial information have been audited, by other auditors whose reports have been furnished to us by the Management and our opinion and conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associates, is based solely on the reports of the other auditors and the procedures performed by us as stated under Auditor's Responsibilities section above.

• The Statement also includes the financial information of Step-down Subsidiary which has not been Audited by any other auditor, whose financial information reflect total assets of Rs.7.53 lakhs as at March 31, 2020 and total revenues of Rs.-Nil-for the year ended March 31, 2020, total net profit after tax of Rs.-Nil- for year ended March 31, 2020 and total comprehensiv^e income of Rs.-Nil- for the year ended March 31, 2020 and net cash flows of Rs.7.20 lakhs fo^r the year ended March 31, 2020. This unaudited financial information has been approved and furnished to us by the Management and our conclusion on the statement, in so far as it relates t^o the affairs of the subsidiary, is based solely on such unaudited financial results and othe^{r u}naudited financial information. According to the information and explanations given to us by the Management, these financial results are not material to the Group.

Our report on the Statement is not modified in respect of the above matters with respect to ou^{r r}eliance on the work done and the reports of the other auditors.

For TU KARAM & CO LLP Chartered Accountants (Firm�/ (B. LOKANATH) PARTNER M.No.024927 UDIN: 20024927AAAAAD4696 ·���] ...... ' ·-:;; �

Place: Hyderabad Date: June 27, 2020. ^at Feeds Limite^dI Aiding Sustainability & Reliability to Aquacultur^e

Statement ofConsolidnted audited Financial Results for the Quarter and Year Ended March 31, 2020

					(Rs. In lakhs, unless otherwise stated)
			Quarter Ended		Year Ended
SI.		March 31,	December	March 31,	March 31,	March 31,
No.	Particulars	2020	31, 2019	2019	2020	2019
		Refer Note 5	Unaudited	Refer Note 5	Audited	Audited
$\mathbf{1}$	Income
	(a) Revenue from operations	1,03,480.81	92,268.85	85,767.88	4, 11, 529. 15	3,48,777.95
	(b) Other income	1,161.99	1,960.15	1,946.72	7,023.47	5,382.73
	Total income	1,04,642.80	94,229.00	87,714.60	4,18,552.62	3,54,160.68
$\mathbf{2}$	Expenses
	(a) Cost of materials consumed	78,585.58	77,954.71	68,421.13	3,29,936.68	2,74,018.03
	(b) Changes in inventories of finished goods & work-in-		(1,725.84)	(398.07)
	progress	2,746.43			(3,519.81)	(324.56)
	(c) Employee benefits expense	2,835.60	2,451.03	2,520.48	11,351.49	10,032.29
	(d) Finance cost	67.86	67.50	110.35	198.79	262.67
	(e) Depreciation & amortisation expense	959.72	913.05	904.82	3,770.67	3,583.87 24,327.41
	(f) Other expenses	6,849.15 92,044.34	7,246.56 86,907.01	5,884.41 77,443.12	28,370.17 3,70,107.99	3,11,899,71
3	Total expenses Profit before tax, exceptional items & share in profit of
	Associates	12,598.46	7,321.99	10,271.48	48,444.63	42,260.97
4	Add: Share of profit/(loss) of associates	1.28	(16.69)	(17.14)	41.40	25.71
5	Profit before exceptional items and tax	12,599.74	7,305.30	10,254.34	48,486.03	42,286.68
6	Exceptional items					518.70
7	Profit before tax	12,599.74	7,305.30	10,254.34	48,486.03	42,805.38
8	Tax expense
	1. Current tax	3,146.25	1,569.96	2,769.65	11,177.38	12,980.65
	2. Deferred tax	(417.78)	(149.77)	(135.60)	(1,319.94)	(837, 26)
	Total tax expenses	2,728.47	1,420.19	2,634.05	9,857.44	12,143.39
9	Net profit for the period	9,871.27	5,885.11	7,620.29	38,628.59	30,661.99
10	Other comprehensive income (net of tax)	25.46	(41.89)	(25.33)	(100.22)	(62.25)
11	Total comprehensive income for the period	9,896.73	5,843.22	7,594.96	38,528.37	30,599.74
12	Net Profit attributable to:
	- Owners	8,697.92	4,785.20	6,799.24	34,648.68	27,363.01
	- Non-controlling interests	1,173.35	1,099.91	821.04	3,979.91	3,298.98
	Other comprehensive income attributable to:
	- Owners	29.17	(41.02)	(24.97)	(93.91)	(59.24) (3.01)
	- Non-controlling interests	(3.71)	(0.87)	(0.36)	(6.31)
	Total comprehensive income attributable to:	8,727.09	4,744.18	6,774.28	34,554.77	27,303.77
	- Owners	1,169.64	1,099.04	820.68	3,973.60	3,295.97
	- Non-controlling interests Paid up equity share capital (face value of Re. 1/- per
13	share)	1,362.46	1,362.46	1,362.46	1,362.46	1,362.46
$\mathbf{14}$	Earnings per share (face value of Re. 1/- per share)
	(a) Basic (in $Rs.$ )	6.38	3.51	4.99	25,43	20.08
	(b) Diluted (in Rs.)	6.38	3.51	4.99	25.43	20.08
	Other equity (excluding revaluation reserves)				1,39,006.40	1,19,234.22
	See accompanying note to the financial results.
	Notes:

^Th^eabove Financial results h^av^ebe^enprepar^ed in accordance with Indian Accounting Standards as prescribed uⁿd^er section 133 of th^e Compani^es Act, 2013 read with Rule 3 of the Compani^es (Indian Accounting Standards) Rul^es, 2015 and the Compani^es (India^{n A}ccounting Standards) Amendment Rul^es, 2016.

²Th^eabove result^swere revi^ew^ed by the Audit Committee at its meeting on June 20, 2020 and approv^ed by the Board of Directors at it^{s m}eeting held on June 27, 2020.

^Registered Office: Flat No.103, Ground Floor, R Square, ^Pandurangapuram, Visal<hapatnam - 530003, Andhra Pradesh, India. CIN:L16001AP1993PLC095778

^Corporate Office: G-2, Concorde Apartments, 6-3-658, Somajiguda, Hyderabad-500082, Telangana State, India. � ⁺91 t4oJ 23310260 /61 a +91 1401 2331160⁴ ® www.avantifeeds.co^m

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• 3 The exceptional item of Rs. 518.70 lakhs for the year ended 31st March, 2019 is refund of differential anti dumping duty (net of expenses) on final determination by the Department of Commerce, USA on the exports made by the company during the financial years 2015-16 &
• 4 The Holding Company has exercised the option permitted u/s I l5BAA of the Income tax Act, 1961 as per the Taxation Laws (Amendment) Ordinance, 2019. Whereas, the subsidiary company (Avanti Frozen Foods Private Limited) is considering to continue the existing tax rates which is advantageous to it. Accordingly, the income tax provision for the year ended March 31, 2020 and deferred tax liability are recognized respectively.
• ⁵The figures for the quarter ended March 31, 2020 and March 31, 2019 are the balancing figures between the audited figures in respect of the full financial years and published unaudited year to date figures up to the third quarter of the respective financial year. The figures upto the end of the third quarter were only reviewed and not subject to audit.
• 6 The company has adopted IND AS I 16 "Leases" effective from April I, 2019 as notified by the Ministry of Corporate Affairs (MCA) in the Companies ( Indian Accounting Standards) amendment Rules 2019 using modified retrospective method. Accordingly the Company has not restated comparative information. There is no material impact on transition to IND AS 116 on retained earnings as at April 01, 2019 and the financial results for the year ended March 31, 2020.
• 7 Removal of the name of the wholly owned subsidiary of the Company "SVIMSAN Exports & Imports Pvt Ltd" u/s 248(2) of the Companies Act, 2013: SYJMSAN Export & Import Pvt Ltd., ('SVIMSAN') is a wholly owned subsidiary of the Company established in 1998 to carry on the activity of Export & Imports. After carrying on business for about 11 years i.e. till 2009, stopped business activity as the activity found to be not viable and remained non-operative for the past 11 years. The Board has decided IO- wind up SVIMSAN by extinguishing all the liabilities. Accordingly, the Company has written off the investment of Rs.100 lakhs i11 the equity along with unsecured loan of Rs. 92.14 lakhs during the year as there is no possibility of recovery of the investment and the un-secured Joan. The SVIMSAN has approached ROC for removal of its name from Register of Companies u/s 248(2). All the necessary statutory procedures have been complied with and the removal of name by the ROC from the Register of Company is awaited. Since the process of removal of name by ROC is under progress, accounts of SVIMSAN is not considered for consolidation.
• 8 The impact of COVID-19 is not significant on the financial performance of the Company for the quarter ended March 31, 2020 and the Company opines that assessment of impact of COV!D-19 on future is premature since the virus is still aggressive in India, not subsided elsewhere in the world and there is already effect of recession on global economy.
• 9 The board at its meeting held on 24.02.2020 declared an Interim Dividend of Rs. 5/- per equity share of Re. 1/- each. The Interim Dividend was paid to the eligible shareholders on 12.03.2020. Further the board has recommended final dividend of Rs. 0.10 per equity share of Re. 1/- each, subject to approval of shareholders.
• 10 Corresponding previous period figures have been regrouped/reclassified wherever necessary.

Place : Hyderabad Date : June 27, 2020

for Mis. A VANTI FEEDS LIMITED

91· £1 c ⁴ A. INDRA l(lJMAR--=-

CHAIRMAN & MANAGING DIRECTOR DIN: 00190168

Consolidated audited Segment information for the quarter and year ended March JI, 2020 11s per regulation JJ ofSEBI (Listing Obligatlons and Disclosure Requirement) Regulations, 2015. '

		(Rs. In Iakhs unless otherwise stated)
			Quartet· Ended			Year Ended
SI. No.	Particulars	March 31, 2020	December 31, March 2019	31, 2019	March 31, 2020	March 31, 2019
		Refer Note 5	Unaudited	Refer Note 5	Audited	Audited
1	Segment Revenue
	a) Shrimp Feed	76,459.02	65,749.67	66,291.93	3,16,093.82	2, 73, 706.27
	b) Processed Shrimp	27,064.61	26,502.91	19,548.96	95,490.42	75,251.99
	c) Power	16.61	18.49	17.14	163.34	136.07
	Gross sales/ operating income	1,03,540.24	92,271.07	85,858.03	4,11,747.58	3,49,094.33
	Inter segment revenue	(59.43)	(2.22)	(90, 15)	(218.43'	(316.38)
	Net Revenue from operations	1,03,480.81	92,268.85	85,767.88	4,ll,529.15	J,48,777.95
2	Segment Results
	a) Shrimp Feed	8,472,17	2,707.86	6,785.34	31,802,65	28,698,92
	b) Processed Shrimp	3,046.71	2,733.04	1,666.76	9,778.97	8,426.99
	c) Power	(14:55)	(11.56)	( 16.99)	38.33	15.00
	Total	11,504.33	5,429.34	8,435.11	41,619.95	37,140.91
	Less : Interest	67.86	67.50	110.35	198.79	262.67
	Add Un-Allocated Income net of Un-Allocable
	Expenditure	1,161.99	1,960.15	1,946.72	7,023.47	5,382.73
	Add/(Less) : Exceptional items					518.70
	Add/(Less) : Share of Profit/(Loss) of Equity Accounted
	Investees	1.28	(16.69)	. (17.14)	41.40	25.71
	Total Profit Before Tnx	12,599.74	7,305.30	10,254.34	48,486.03	42,805.38
3	Segment Assets
	a) Shrimp Feed	82,331.03 40,024.43	84,552.78 46,303.71	58,412.79 35,856.79	82,331.03 40,024.43	58,412.79 JS,856.79
	b) Processed Shrimp c) Power	3,716.57	3,741.19	3,722.88	3,716.57	3,722.88
	d) Un-allocated	61,923.02	61,970.17	63,489.39	61,923.02	63,489.39
	Tolnl	l,87,995.05	l ,96,567.85	1,61,481.85	l ,87,995.05	1,61,481.85
	Segment Liabilities
	a) Shrimp Feed	19,412.50	30,643.06	15,638.86	19,412.50	15,638.86
	b) Processed Shrimp	4,697.94	4,228.37	4,055. 11	4,697.94	5,036.03
	c) Power	31.25	31.02		31.25
	d) Un-allocated	4,376.01	3,873.97	6,057.92	4,376.01	5,077.00
	Totnl	28,517.70	38,776.42	25,751.89	28,517.70	25,751.89

for l'\'1/s. AVANTI FEEDS LIMITED

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A. INDRA KUMAR CHAIRMAN & MANAGING DIRECfOR DIN : 00190168

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Place: Hyderabad Date : June 27, 2020

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//.

I I;

AUDITED CONSOLIDATED STATEMENT OF ASSETS & LIABILITIES AS AT MARCH 31, 2020

	(Rs, In lakhs, unless otherwise stated)
	As at	As at
Particulars	March JI,	March 31,
	2020	2019
ASSETS
Non-current Assets
Property, plant, and equipment	26,649.60	29,226.70
Capital work-in-progress	2,588.71	900.93
Intangible assets	23.66	26.19
Right of use Assets	413.96
Investments accounted for using the equity method	3,187.88	3,146.47
Financial assets
Investments	426.40	6,753.52
Loans	88.12	95.67
Other financial assets	804.36	735.01
Non-current tax assets (net)	1,731.60	2,297.56
Other non-current assets	553,85	338.41
Total Non • Current Assets	36,468.14	43,520.46
Current Assets
Inventories	54,350.65	37,906.21
Financial assets
Investments	64,433.41	53,117.16
Trade receivables	8,877.13 1,590.30	4,863.69
Cash and cash equivalents	18,266.50	5,806.21 12,885.06
Other Bank balances Loans	130.06	97.96
Other current assets	3,878.86	3,285.10
Total Current Assets	1,51,526.91	1,17,961.39
Total Assets	1,87,995.05	1,61,481.85
EQUITY AND LIABILITIES
Equity
Equity share capital	1,362.46	1,362.46
Other equity	1 39,006.40	1,19,234.22
Equity attributable to owners	1,40,368.86	1,20,596.68
Noa-controlling interest	19,108.49	15, 133.28
Total equity	1,59,477.35	1,35,729.96
LiAbilitics
Non current liabilities
Financial liabilities
Borrowings	15.98	105.64
Lease Liability	32.96
Other financial liabilities	374.50	374.50
Provisions	153.38	167.74
Deferred tax liabilities (net)	454.15	1,774.10
Other non-current liabilities	1,144.36	1,335.34
Total Non-current Llabilitles	2,175.33	3,757.32
Current liabilities
Financial liabilities
Borrowings	0.02	667.14
Trade Payable
i) Total outstanding dues of Micro enterprises and small enterprises; and	670.23	886.87
ii) Total outstanding dues of creditors other than Micro enterprises and small enterprises	21,083.94	17,104.02
Lease Liability	17.90
Other financial liabilities	1,383.12	543.06
Other current liabilities	2,946.04	2,675.80
Provisions	24J.12	117.68
Total Cm-rent liabilities	26,342.37	21,994.57
Total Equity and Liabilities	1,87 ,995.05	1,61,481.85

Place : Hyderabad Dnte : June 27, 2020

/ I ./·

for Mis. A VANTI FEEDS LIMITED

Df. Ii_ L �

A C . H I A N IR DR M A A K N U & M M AR A NAGING DIRECTOR DIN: ^00190168

		(Rs In lakhs, unless otherwise stated)
	For the year	For the year
		ended 31 March, ended 31st March,
	2020	2019
A. CASH FLOW FROM OPERATING ACTIVITIES	48,486.03	42,805.38
Profit before tax
Adjustments for :
Depreciation and amortisation expense	3,770.67	3,583.87
Finance costs	198.79	262.67
Los sf (Profit) on sale of property, plant and equipment	195.03	31.57
Interest income	(986.91)	(534.44)
Dividend income	(2,353.37)	(1,537.27)
Exchange gains! losses	(1,690.22)	634.01
Gain/loss from sale of financial assets measured at fair value through profit and loss	(921.89)	(J,686.20)
Fair valuation of financial assets measured at fair value through profit and loss	(1,554.07)	(537.82)
Fair valuation of derivatives	1,013.65	26.05
Share of profit/(loss) from Associates	(41.40)	(25.71)
Amortisation of government grant	(190.97)	(187.19)
Provision for employee benefits	294.28	223.17
Operating profit before working capital changes	46,219.62	43,058.09
Adjustments for (increase) I decrease in operating assets:
Trade receivables	(4,013.44)	139.76
Loans	(24.55)	(36.41)
Other financial assets	(70.27)	97.83
Inventories	( 16,444 .44)	14,575.23
Other bank balances	(5,312.69)	(12, 121.09)
Other assets	(809.20)	(1,367.02)
Adjustments for increase I (decrease) in operating liabilities:
Trade payables	3,763.98	( I 0,663.92)
Provisions	(285.42)	(356.66)
Other financial liabilities	(173.59)	48.90
Other liab i1 ities	270.24	(394.70)
Cash generated from operations	23, 120.24	32,980.01
Net income tax paid	(10,611.42)	( 14,603. 5 7)
Net cash flow from operating activities (A)	12,508.82	18,376.44
B. CASH FLOW FROM INVESTING ACTIVITIES		(2,500.15)
Capital expenditure on fixed assets, including capital advances	(3,495.48)	81.63
Proceeds from sale of Property, Plant and Equipment	73.88
Changes in investments	(2,513.17)	(2,322.34) 525.19
Interest received	987.83
Divk'end income received	2,353.37	1,537.27 (2,678.40)
Net cash (used in) I flow from investing activities (B) C. CASH FLOW FROM FINANCING ACTIVITIES	(2,593.57)
Finance costs	(194.46)	(262.67)
Repayment of borrowings	(756. 78)	224.85
Repayment of Lease Liabilities	(18.77)	-
Dividends paid	(14,851.37)	(9,905.41)
Profit on exchange fluctuations & forward contracts	1,690.22	(634.01)
Net cash flow (used in) financing activities (C)	(14,131.16)	(I 0,577.24)
Net (decrease) in Cash and cash equivalents (A+B+C)	(4,215.92)	5,120.80
Cash and cash equivalents at !he beginning or the year	5,806.21	685.41
Cash and cash equivalents at the end of the year (Refer Nole [l) below)	1,590.30	5,806.21
Note (i): Cash and cash equivalents comprises of:
Balances with Banks	1,561.03 29.27	5,780.55 25.66
Cash in hand	1,590.30	5,806.21

AUDITED CONSOLrDATED STATEMENT OF CASH FLOWS FOR THE VEAR ENDED MARCH 31, 2020

for Mis. A VANTI FEEDS LIMITED

A. INDRA KUMA- ^R CHAIRMAN & MANAGING DIRECTOR DIN: 00190168

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

To The Board of Directors Avant! Feeds Limited

Opinion

We hav^e(a) ^audited the Standalone Financial Results for the year ended March 31, 2020 and (b) reviewed the Standalone Financial Results for the quarter ended March 31, 2020 (refer 'Othe^r Matters' section below) which were subject to limited review by us, both included in the accompanying "Statement of Standalone Financial Results for the Quarter and Year Ended March 31, 2020 ("th^e Statement") of AVANTI FEEDS LIMITED ("the Company"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").

(a) Opinion on Annual Financial Result^s

In our opinion and to the best of our information and according to the explanations given to us, the Standalone Financial Results for the year ended March 31,2020:

• i. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, asamended; and
• ii. gives a true and fair view in conformity with the recognition and measurement prlnciples laid down In the Indian Accounting Standards 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 year then ended.

(b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2020

With respect to the Standalone Financial Results for the quarter ended March 31, 2020, based o^{n o}ur review conducted as stated in paragraph (b) of Auditor's Responsibilities section below, nothing has come to our attention that causes us to believe that the Standalone Financial Results for the quarter ended March 31, 2020, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally ^accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 ^of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

27/06/2020

3-6-69, Flat No. 209, Venkatarama Towers, Opp. Talwalkars, Basheerbagh, Hyderabad - 500 029. E-mail : tukaramco@gmail.co^m

Basis for Opinion on the Audited Standalone Financlal Results for th^eyear ^ended March 31, 2020

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Sectioⁿ 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are furthe^r described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the !CAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2020 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 !CAi's Code of Ethics. We believe that the audit evidence obtained by u^s is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibiliti^es for the Statemen^t

This Statement which includes the Standalone Financial Results is the responsibility of the Company'^s Board of Directors and has been approved by them for the issuance. The Standalone Financial Result^s for the year ended March 31, 2020 has been compiled from the related audited standalone financial ^statements. This responsibility includes the preparation and presentation of the Standalon^e Financial Results for the quarter and year ended March 31, 2020 that give a true and fair view of th^e net profit and other comprehensive income and other financial information in accordance with the ^recognition and measurement principles laid down in the Indian Accounting Standards 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 i^{n a}ccordance with the provisions of the Act for safeguarding the assets of the Company and fo^r preventing and detecting frauds and other irregularities; selection and application of appropriat^{e a}ccounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that wer^{e o}perating 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 vie^{w a}nd 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 th^e 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 t^o 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 th^e Company.

Auditor's Responsibilitie^s

(a) Audit of the Standalone Financial Results for the year ended March 31, 2020

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Result^s for the year ended March 31, 2020 as a whole is free from material misstatement, whether due t^o 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 erro^{r a}nd are considered material if, individually or in the aggregate, they could reasonably be expected t^o 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:

• Identify and assess the risks of material misstatement of the Annual Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive t^o those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis fo^{r o}ur opinion. The risk of not detecting a material misstatement resulting from fraud is highe^r 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 control 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 the Company's internalcontrol.
• Evaluate the appropriateness of accounting policies used and the reasonableness of ^accounting estimates made by the Board of Directors.
• 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.
• Conclude 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 exist^{s r}elated to events or conditions that may cast significant doubt on the ability of the Company t^{o c}ontinue as a going 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 th^{e a}udit evidence obtained up to the date of our auditor's report. However, future events o^{r c}onditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Annual Standalone Financial Results, including the disclosures, and whether the Annual Standalone Financial Result^{s r}epresent the underlying transactions and events in a manner that achieves fair presentation.

• Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations to the extent applicable.
• Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Results of the Company to express an opinion on the Annual Standalone Financial Results.

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

(b) Review of the Standalone Financial Results for the quarter ended March 31, 2020

We conducted our review of the Standalone Financial Results for the quarter ended March 31, 2020 in accordance with the Standard on Review Engagements ("SRE") 2410 'Review of

Financial Information Performed by the Independent Auditor of the Entity', issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Other Matters

• On account of the COVID-19 related lock-down restrictions, we were not able to physically observe the verification of inventory that was carried out by the Management. Consequently, we have performed alternate procedures to audit the existence of Inventory as per the guidance provided by in SA 501 "Audit Evidence - Specific Considerations for Selected Items" and have obtained sufficient audit evidence to issue our unmodified opinion on these Standalone Financial Results. Our report on the Statement is not modified in respect of this matter.

• Attention is drawn to Note 5 to the Statement which states that the Standalone Financial Results includes the results for the Quarter ended March 31, 2020 being the balancing figure between audited figures in respect of the full financial year and the year to date figures up to the third quarter of the current financial year after giving effect of the Scheme as referred in the Note 1 of the financial results which were subject to limited review by us. Our report is not modified in respect of this matter.
• Attention is drawn to Note 5 to the Statement, the figures for the corresponding quarter ended March 31, 2019 are the balancing figures between the annual audited figures for the year then ended and the year to date figures for the 9 months period ended December 31, 2018. We have not issued separate limited review report on the results and figures for the quarter ended March 31, 2019. Our report is not modified in respect of this matter.

For TU KARAM & CO LLP

Chartered Accountants (Firm Re�r��z=�::�--�

(B. LOKANATH) PARTNER M.No.024927 UDIN: 20024927AAAAAC4360

Place: Hyderabad Date: June 27, 2020.

Statement of Standalone audited Financial Results for quarter and year ended March 31, 2020

	(Rs. in lakhs, unless otherwise stated)
			Quarter Ended		Year Ended
		March 31,	December	March31,	March 31,	March 31, 2019
SI. No.	Particulars	2020	31. 2019	2019	2020
		Refer Note 5	Unaudited	Refer Notes	Audited	Audited
1	Income
	a) Revenue from operations	76,475.63	65,768.16	66,224.61	3,16,257.16	2,73,842.34
	b) Other income	1,337.60	1,584.14	1,325.67	6,061.81	4,459.15
	Total income	77,813.23	67,352.30	67,550.28	3,22,318.97	2,78,301.49
2	Expenses
	a) Cost of materials consumed	64,647.53	56,985.25	56,010.51	2,60,384.01	2,22,068.34
	b) Changes in inventories of finished goods & work in
	progress	(3,146.69)	402.06	(1,473.75)	(1,585.67)	1,280.32
	c) Employee benefits expense	2,336.66	1,932.39	2,078.54	9,339.93	8,283.55
	d) Finance costs	57.82	17.89	55.13	121.23	124.58
	c) Depreciation & amortisation expense	534.00	491.12	513.46	2,098.56	2,028.31
	f) Other expenses	3,791.00	3,260.89	2,327.22	14,323.42	11,467.45
	Total expenses	68,220.32	63,089.60	59,511.ll	2,84,681.48	2,45,252.55
3	Profit before exceptional items and tax	9,592.91	4,262.70	8,039.17	37,637.49	33,048.94
4	Exceptional items	-	-	(0.44)	-	518.26
5	Profit before tax	9,592.91	4,262.70	8,oJ8.73	37,637.49	33,567.20
6	Tax expenses
	I. Current tax	2,635.75	1,042.36	2,263.30	9,321.45	10,983.74
	2. Deferred tax	31.17	78.02	200.57	(281.63)	233.98 !l,217.72
	Total tax expense	2,666.92	1,120.38	2,463.87	9,039.82
7	Net profit for the period	6,925.99	3,142.32	5,574.86	28,597.67	22,349.48
8	Other comprehensive income (net of tax)	34.75	(39.73)	(24.43)	(84.44)	(54.72)
	9 Total comprehensive income	6,960.74	3,102.59	5,550.43	28,513.23	22,294.76
	IO Paid up equity share capital (face value of Re.I/- per				1,362.46	1,362.46
	share)	l,362.46	1,362.46	1,362.46
11
	Earnings Per Share (face value of Rel/- per share)					16.40
	1) Basic (in Rs.)	5.08	2.31	4.09	20.99	16.40
	2) Diluted (in Rs.)	5.08	2.31	4.09	20.99 1,18,594.17	1,04,865.95
	Other equity (excluding revaluation reserves)
	See accompanying note to the financial results.

Notes:

The above Financial results have been prepared in accordance with Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Amendment Rules, 2016.

2 The above Financial results were reviewed by the Audit Committee at its meeting on June 20, 2020 and approved by the Board of Directors at its meeting held on June 27, 2020.

• 3 The exceptional item of Rs. 518.26 lakhs for the year ended March 31, 2019 includes refund of differential anti dumping duty of Rs. 518.70 lakhs paid ( net of expenses) on final determination by the Department of Commerce, USA on the exports made by the company during the financial years 2015-2016 & 2016-2017 and provision for doubtful advance Rs. NIL (previous year Rs. 0.44 lakhs) given to wholly owned subsidiary Svimsan Exports & Imports Private Limited (SEIPL).
• 4 The Company has exercised the option permitted u/s I 15BAA of the Income tax Act, 1961 as per the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the income tax provision for the year ended March 31, 2020 and deferred tax liability recognised as per the said ordinance.
• 5 The figures for the quarter ended March 31, 2020 and March 3 I, 2019 are the balancing figures between the audited figures in respect of the full financial years and published unaudited year to date figures up to the third quarter of the respective financial year. The figures upto the end of the third quarter were only reviewed and not subject to audit.

Corporate Office: G-2, Concorde Apartments, 6-3-658, Somajiguda, Hyderabad-500082, Telangana State, India. .. +91 (40} 23310260 /61 I!, +91 140} 23311604 r;:f!.1 www.avantifeeds.com ,� avantiho(aavantifeeds.com

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Registered Office: Flat No.103, GroundFf6or,�R Square, Pandurangapuram, Visakhapatnam - 530003, Andhra Pradesh, India. CIN: L 16001AP1993PLC095778

• 6 The Company has adopted IND AS 116 "Leases" effective from April I, 2019 as notified by the Ministry of Corporate Affairs (MCA) in the Companies ( Indian Accounting Standards) Amendment Rules 2019 using modified retrospective method. Accordingly the Company has not restated comparative information. There is no material impact on transition to IND AS 116 on retained earnings as at April O I. 2019 and the financial results for the year ended March 31, 2020.
• 7 Removal of lhc name of the wholly owned subsidiary of the Company "SVIMSAN Exports & Imports Pvt Ltd" u/s 248(2) of the Companies Act, 2013: SVIMSAN Export & Import Pvt Ltd., ('SVIMSAN') is a wholly owned subsidiary of the Company established in 1998 to carry on the activity of Export & Imports. After carrying on business for about 11 years i.e. till 2009, stopped business activity as the activity found to be not viable and remained non-operative for the past 11 years. The Board has decided to wind up SVIMSAN by extinguishing all the liabilities. Accordingly, the Company has written off the investment of Rs. I 00 lakhs in the equity along with unsecured loan of Rs.92.14 lakhs during the year as there is no possibility of recovery of the investment and the un-secured loan. The SVIMSAN has approached ROC for removal of its name from Register of Companies u/s 248(2). All the necessary statutory procedures have been complied with and the removal of name by the ROC from the Register ofCornpany is awaited. Since the process of removal of name by ROC is under progress, accounts of SVIM:SAN is not considered for consolidation.
• ⁸The impact of COVID-19 is not significant on the financial performance of the Company for U1e quarter ended March 31, 2020 and the Company opines that assessment of impact of COVID-19 on future is premature since the virus is still aggressive in India, not subsided elsewhere in the world and there is already effect of recession on global economy.
• 9 The board at its meeting held on 24.02.2020 declared an Interim Dividend of Rs. 5/- per equity share of Re. 1/- each. The Interim Dividend was paid to the eligible shareholders on 12.03.2020. Further the board has recommended final dividend of Rs. 0.10 per equity share of Re.I/- each, subject to approval of shareholders.
• IO Corresponding previous period figures have been regrouped/reclassified wherever necessary.

Place : Hyderabad Dale : June 27, 2020

forM/s.AVANTI FEEDS LIMITED

A. INDRA KUMA!r

CHAIRMAN & MANAGING DIRECTOR DIN : 00190168

Standalone audited Segment information for the quarter and year ended March 31, 2020 as per regulation 33 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.

	(Rs. in lakhs, unless otherwise stated)
		Quarter Ended			Year Ended
		March	December 31, March 3		1,2019 March 31, 2020	March 31,
SI.	Particulars	31,2020	2019			2019
No. '				Refer Note 5	Audited	Audited
		Refer Note 5	Unaudited
I	Segment Revenue
	a) Shrimp Feed	76,459.02	65,749.67	66,207.47	3, 16,093.82	2,73,706.27
	b) Wind Power	16.61	18.49	17.14	163.34	136.07
	Gross-Sales/ Income from operations	76,475.63	65,768.16	66,224.61	3,16,257.16	2,73,842.34
2	Segment Results
	a) Shrimp Feed	8,327.68	2,708.01	6,785.62	31,658.58	28,699.37
	b) Wind Power	(14.55)	(11.56)	(16.99)	38.33	15.00
	Total	8,313.13	2,696.45	6,768.63	31,696.91	28,714.37
	Less : r nterest	57.82	17.89	55.13	121.23	124.58
	Add : Un-Allocated Income net of Un-Allocable
	Expenditure	1,337.60	1,584. 14	1,325.67	6,061.81	4,459.15
	Add/Less : Exceptional items	-	-	(0.44)	-	518.26
	Total Profit Before Tax	9,592.91	4,262.70	8,038.73	37,637.49	33,567.20
3	Segment Assets :
	a) Shrimp Feed	82,331.03	84,552.78	58,412.79	82,331.03	58,412.79
	b) Wind Power	528.69	554.60	576.4 l	528.69	576.41
	c) Un-allocated	62,438.81	71,582.05	68,708.27	62,438.81	68,708.27
	Total:	1,45,298.53	1,56,689.43	1,27,697.47	1,45,298.53	1,27 ,697.47
4	Segment Liabilities
	a) Shrimp Feed	19,563.37	30,643.06	15,638.86	19,563.37	15,638.86
	b) Wind Power	31.25	31.02	-	31.25	-
	c) Un-allocated	5,747.28	4,804.52	5,830.20	5,747.28	5,830.20
	Total:	25,341.90	35,478.60	21,469.06	25,341.90	21,469.06

for M/s. AV ANTI FEEDS LIMITED

� (I A. INDRA KUMAR --" c/vf J JV, lt.

CHAIRMAN & MANAGING DIRECTOR DIN: 00190168

Place: Hyderabad Dale : June 27, 2020

AUDITED STANDALONE STATEMENT OF ASSETS & LIABILITIES AS AT MARCH 31, 2020

(Rs in lakhs, unless otherwise stated)
Particulars		As at March As at March 31,
	31,2020	2019
ASSETS
Non-current Assets
Property, plant, and equipment	14,573.47	15,585.40
Capital work-in-progress	2,335.20	792.44
Other intangible assets	14.26	17.96
Right of use Assets	31.37
Financial assets
Investments	11,622.46	17,949.58
Loans	67.63 517.10	91.86 469.54
Other financial assets	,140.87	1,819.91
Non-current tax assets	1 71.22	263.60
Other non-current assets Total Non - Current Assets	30,373.58	36,990.29
Current Assets
Inventories	37,036.25	22,483.05
Financial assets
Investments	54,538.73	51,898.10
Trade receivables	3,172.94	1,609.41
Cash and cash e9uivalents	646.67	1,205.94
Other bank balances	18,219.39	12,864.39
Loans	107.15	88.27
Other current assets	1,203.82	558.02
Total Current Assets	1, I 4 ,924.95	90,707.18
Total Assets	1,45,298.53	1,27,697.47
EQUITY AND LIABILITIES
Equity
Equity share capital	1,362.46	1,362.46
Other equity	1,18,594.17	1,04,865.95
Total Equity	1,19,956.63	1,06,228.41
Non-current Liabilities
Financial liabilities
Lease Liabilities	16.42	-
Other financial liabilities	374.50	374.50
Provisions	85.58	104.76
Deferred tax liabilities (net)	1,825.39	2,107.02
Other non-current liabilities	2,301.89	2,586.28
Current liabilities
Financial liabilities
Borrowings	-
Trade payables (i) Total outstanding dues of micro enterprises and small enterprises	638.54	787.26
(ii) Total outstanding dues of creditors other than micro enterprises	19,110.22	15,134.52
and small enterprises Lease Liabilities	12.51
Other financial liabilities	279.88	199.30
Other current liabilities	2,775.04	2,644.02
Provisions	223.82	117.68
Total Current Liabilities	23,040.01	18,882.78
Total Equity & liabilities	1,45,298.53	1,27,697.47

fol' M/s, A VANTI FEEDS LIMITED

A. INDRA KUMAR CHAIRMAN & MANAGING DIRECTOR DIN : 00190168

Place : Hyderabad Date : June 27, 2020

AUDITED STANDALONE STATEMENT OF CASH FLOWS FOR THE YE.AR ENDED MARCH 31, 2020

	(Rs In lakhs unless otherwise stated) '
	For the year	For the year
Partic ulars	ended 31st	ended 31st
	March,2020	March, 2019
A. CASH FLOW FROM/(USED IN) OPERATING ACTIVITIES
Profit before tax	37,637.49	33,567.20
Adjustments for :
Depreciation and amortisation expense	2,098.56	2,028.31
Finance costs	121.23	124.58
Loss on sale of property, plant and equipment	189.00	29.01
Interest income	(969.88)	(519.03)
Dividend income	(2,224.09)	(1,492.18)
Gain/loss from sale offinancial assets measured at fair value through profit and loss	(921.66)	( 1,686.20)
Fair valuation of financial assets measured at fair value through profit and loss	(1,522.94)	(537.24)
Provision for employee benefits	309.40	222.44
Exchange differences	(52.071	295.00
Operating profit before working capital changes	34,665.04	32,031.89
Adjustments for (increase) I decrease in operating assets:
Trade receivables	( 1,563.53)	303.90
Other financial assets	(693.37)	265.44
Inventories	( 14,553.20)	16.309.79
Other bank balances	(5,286.25)	( l 2,050.08)
Other assets	197.73	( l 58.09)
Trade payables	3,827.39	( 11,323.55)
Other financial liabilities	80.58	69.36
Other current liabilities	(175.86)	(820.72)
Cash gcnernted from operations	16,498.54	24,627.94
Income taxes paid, net	(8,642.41)	(12,183.27)
Net cash from operating activities (A)	7,856.13	12,444.67
B. CASH FLOW FROM/(USED IN) INVESTING ACTIVITIES
Capital expenditure on Property plant and equipment, mclud mg capital advances	(2,812.98)	(1,378.13)
Proceeds from sale of fixed assets	3.12	69.68 (2,197.09)
Change in Investments	6,131.09	519.03
Interest received	969.88 2,224.09	1,492.18
Dividend income received	6,515.20	(1,494.33)
Net cash from /(used in) iiwcsting activities (B)
C. CASH FLOW FROM/(USED IN) FINANCING ACTIVITIES	(118.95)	(124.58)
Finance costs	(12.37)
Repayment of lease I iabi I it ies	( 14,851.37)	(9,905.4 l)
Dividends paid Exchange differences	52.07	(295.00)
Net cash from/(used in) financing activities ( C)	( 14,930.62)	(10,324.99)
Net lncreaseqdecrease) in Cash and cash equivalents (A+B+C)	(559.27)	625.35
Cash and cash equivalents al the beginning of the year	1,205.94	580.59
Cash and cash equivalents al the end of the vear (Refer Note (i) below)	646.67	1,205.94
Note(i):		10.13
Cash in hand	12.99 633.68	1,195.81
Balances with Banks	646.67	1,205.94
- rfj -,----.,, � y f',;,EO.S , / '· �\ ' / . ,� ' X · t > � � ). CJ ' 4 v' .1 <c * · - \</c	for M/s. AVANT! FEEDS LIMITED L t y / / � � " A. INDRA KUMAR
.::> ,p 'k 'Yy Place: Hyderabad DERf'.\'?i	CHAIRMAN & MANAGING DIRECTOR

Da.fe : June 27, 2020 DIN: 00190168