Batliboi Ltd — Interim / Quarterly Report 2022

Nov 5, 2022

Batliboi Ltd.

Legal & Secretarial Department

Regd. & Corporate Office : Bharat House, 5th Floor, 104, Bombay Samachar Marg, Fort, Mumbai - 400 001. India

Phone;+91 (22)6637 8200 Fa/ : +91 (22)2267 5601 E-mail: legal@balliboi.com Web. : www.batliboi.com CIN . L52320MH1941PLC003494

BATLIBOI

05* November, 2022

Scrip Code: 522004

Dear Sir/'Madam,

.Q^come of Board Meeiitt); No. 3/2022-23 under Regulations. 2niS ^ n 30 of SEBl fLODRt

matters.

1. The Un-audited Standalone & Consolidated Financial Results of the Company for the Quarter and

half year ended September 30, 2022,

The Results has also been sent for publication i Newspaper. in English Newspaper and one Local Language

The Meeting commenced at 12.50 P.M. and concluded at 02:35 P.M.

Kindly take the same on your record,

Thanking you

Yours faithfully, For Batliboi Limited ii__

Pooja Mane Company Secretary ACS - 35790

Place: Mumbai End; As above

M. CHITALE &CO.

2nd Floor, Kapur House, Paranjape B Scheme Road No. 1, Vile Parle (E), Mumbai 400057 T: 91 22 2663 3500 www.mmchitale.com

CHARTERED ACCOUNTANTS

Independent Auditor’s Review Report on the unaudited quarterly and year to date Standalone Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure requirements) regulations 2015, as amended

Review Report to, The Board of Directors Batliboi Limited

1. We have reviewed the accompanying statement of Unaudited Standaione Financiai Results of Batliboi Limited (the ‘Company’) for the quarter and six months ended 30'^ September 2022 (the ‘Statement’) attached herewith, 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 “Regulations”).

2. This Statement, which is the responsibility of the Company’s Board of Directors and have been approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting" ("Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, as amended (the “Act) read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons 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 Standards on Auditing 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.

MUKUND M. CHITALE &CO.

CHARTERED ACCOU N TANTS

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards find AS”) specified under Section 133 of the Act, read with relevant rules issued thereunder and other recognised accounting practices and policies, has not disclosed the information required to be disclosed in terms of the Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

5. Other Matter

As described in Note 3 of the statement, the figures of the second quarter in each of the financial year are the balancing figures between figures in respect of the half year end and the year-to-date figures upto the end of the first quarter of the respective financial year.

Our conclusion is not modified in respect of this matter.

For Mukund M. Chitale & Co Chartered Accountants Firm Reg. No. 106655W

(A. V. Kamat) Partner M.No. 039585 UDIN: 22039585BCDXJL7907 Place: Mumbai Date: 5'" November 2022

BATLIBOI LTD.

Regd. Office: Bharat House, Sth Floor, 104 Bombay Samaehar Marg, Fort, Mumbai-400001 CIN: L52320MH1941PLC003494

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER, 2022

						(Rs. In Lakhs)
Particulars		Quarter Ended		Half year	Ended	Year Ended
	30.09.2022	30.06.2022	30.09.2021	30.09.2022	30.09.2021	31.03.2022
	(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)
1. INCOME
(a) Revenue from Operations	5,092.10	4,729.62	3,830.25	9,821.72	6,426.43	14,606.94
(b) Other Income	88.65	52.62	110.03	141,27	137,69	266.55
TOTAL INCOME	5,180.75	4,782.24	3,940.2S	9,962.99	6,564.12	14,873.49
2. EXPENSES
(a) Cost of Materials Consumed	1,696.03	1,700.86	1,484.65	3,396.89	2,517.37	5,765.65
(b) Purchase of Stock in Trade	1,513.75	1,423.47	1,021.95	2,937.22	1,633.28	4,035.97
(c) Changes In inventories of finished goods, workin progress and	(30,59)	76.24	73.18	45.65	27.41	(333.57)
stock In trade
(d) Employees benefits expenses	615,13	612.13	543.22	1,227.26	1,104.89	2,262.40
(e) Finance Costs	114.63	144.80	182.78	259.43	386.11	793.71
(f) Depreciation and Amortisation ei^ienses	81.46	77,19	75.61	158.65	146.68	297.72
(g) Other expenses	908.35	754,19	669.94	1,662.54	1,120.17	2,521.89
TOTAL EXPENSES	4,898.76	4,788.88	4,051.33	9,687.64	6,935.91	15,343.77
3. PROFIT/(LOSS) BEFORE EXCEPTIONAL ITEMS AND TAX	281.99	(6.64)	(111.05)	275.35	(371.79)	(470.28)
4. Exceptional Items - (Expense)/Incorr»e
5. PROFIT/(LOSS) BEFORE TAX	281.99	(6.64)	(111.05)	275.35	(371.79)	(470.28)
6. Tax Expenses
(a) Current Tax
(b) Earlier Year Tax			(0.95)		(0.95)	(1.92)
(c) Deferred Tax Credit / (Charge)	(90.95)	42,36	17.28	(48.59)	132.17	(80.07)
(d) Mat credit (Reversal)	(11.43)		(111.89)	(11.43)	(111.89)	(111.89)
7. NET PROFrr/(LOS5] FOR THE PERIOD	179.61	35.72	(206.61)	215.33	(352.46)	(664.16)
8. Other Comprehensive Income
(!) Items that will not be reclassified to profit orloss
Actuarial galn/(Loss) on employee defined benefits	13.42	13.98	2.42	27.40	4.64	59.28
(il) Income tax relating to Items that will not bereclassified to
profit or loss
Deferred Tax Impact on above	(3.48)	(3.64)	(0.63)	(7.12)	(1.26)	(15.41)
9. Total Comprehensive Income	189.55	46.06	(204.82)	235.61	(348.88)	(620.29)
10. Paid-up Equity Share Capital	1,435.79	1,435.79	1,435.79	1,435.79	1,435.79	1,435.79
(Face Value Rs.5/- per share)
11. Basic & Diluted EPS for Die P«iod (Rs. Per Share)	0.63	0.12	(0.72)	0.75	(1-23)	(2,31)

'1

BATUBOI LTD. Regd. OfTiee: Bharat House, 5th Ftow, 104 Bombay Samachar Marg, Fort, Mumbai-dOOOOt aN: L52320MH1941PLC003494 UNAUDITED STANDALONE STATEMENT OF ASSETS AND LIABILmES

				(R«. In Lakhs)
		Particulars	As at	As at
			30-5^22	31-Mar-22
			(Reviewed)	(Audited)
		ASSETS
1		Non-current assets
(a)		Property, Plant and Equipment	18,513.45	18,444.44
(t>)		Capital work-in-progress	27,11	160.56
(C)		Right of use assets	145.26	179.70
(<»)		Other Intangible assets	16.69	15.06
(e)		Hnancial Assets
	I.	Investments	566.87	537.16
	n.	Trade recelvaUes	258.09	376.78
	III.	Loans	0.31	0.40
(0		Other non<urrent assets	97,31	100.62
		Total Non current Assets	19,625.09	19J14,72
2		Current assets
(a)		Inventories	2,188.59	2,243.62
(D)		Financial Assets
	I.	Trade receivables	1,881.07	1,144.71
	II.	Cash and cash equivalents	3.60	8.47
	III.	Bank balances other than (ii) above	186.05	34.39
	Iv.	Loans	0.88	1.02
	V.	Others	282.69	278.10
(C)		Currant Tax Assets (Net)	51.52	60.63
		Total current Assets	4,594.40	3,770.94 1
3		Non Current Asset Held (or Sale	1,779.39	1,779.39
		Total Assets	25,998.86 4	25.365.05
		EQUITY AND LIABILmES
1		Equity
(a)		Equity Share capital	1,435.79	1,435.79
(b)		Other Equity	9,890.43	9,660.61
			11,326,22	11,096.40
		LIABILmES
2		Non-current liabilities
(a)		Financial Liabilities
		Borrowings	5,573.97	3,602.36
	II.	Lease Liabiirbes	102.15	123.93
	HI.	Trade payables
		(a) total outstandvig dues of micro enterprises andsmall	16.29	11.90
		enterprises
		(b) total outstanding dues of creditors other titan micro	198.18	192.86
		enterprises and small enSrprises
	Iv.	Other financial liabilities	440.44	414.11
(b)		Provbions	367,92	367.32
(b)		Deferred tax iiabHities	1,365.49	1,298.35
		Total Non-current llabliltles	8,064.44	6,010.83
3		Current liabilities
(3)		Financial Uatxttties
		Borrowings	1,539.64	3,007.10
	II.	Lease Uabilities	56.71	68.02
	III.	Traiie payables
		(a) otal outstanding dues of micro enterprises andsmall	381.87	479.81
		enterprises
		(b) total out^nding dues of creditors other than micro	1,617.95	1,656.64
		enterprises and small enterprises
(b)		Other current liabilities	2,918.25	2,958.57	I
(c)		Provisions	93.80	87.68
		Total Current liatMlities	6.608.22	g.257.82
		To&l_E2uitjr^nd_Uabilities	25,998.88 i	25,365.05 I

BATLIBOI LTD. Regd. Office: Bharat House, 5th Floor, 104 Bombay Samadiar Marg, Fort, Mumbai-400001 CIN: L52320MH1941PLC003494

UNAUDITED STANDALONE CASH FLOW STATEMENT

==> picture [498 x 614] intentionally omitted <==

----- Start of picture text -----

(Rs. In Lakhs}
Particulars Six months ended Six months ended
30-Sep-22 30-Sep-2l
(Reviewed) (Reviewed)
L CASH FLOW ARISING FROM OPERATING ACTIVITIES:
Net Profit / (Loss) Before Tax and Exceptional Items 275.35 (371.79)
Add/ Deduct;
a] Depreciation 158.65 146.68
b) Interest Expense 205.49 330.18
c) Interest on Lease Liabilities 9.35 4.20
d) Loss on Sale/Disposal of Assets 0.01
e) Debit Balances Written off/Bad Debts 136.67 0.57
f) Provision for Doubtful Oebts/Advances 4.46 1.87
g) Gratuity and Leave Encashment Provision 55.15 37.24
h) Foreign Exchange Loss 1.73 16.30
i) Interest Income (5.24) (1.20)
j) Unclaimed Credit Balances Written Back (11.36) (56.21)
k) Employee Stock Option Reserve JMll 549.09 2.16 481.80
Operating Profit Before Working Capital Changes 824.44 110.01
Add/ Deduct:
a) Deaease/ (Inaease) in Inventories 55.03 (180.42)
b) Deaease/ (Increase) in Trade Receivables & Advances (758.56) 4.46
c) Decrease/ (Increase) in Other Current Assets (31.01) 0.45
d) Increase/ (Decrease) in Trade and Odier Payables (30.74) (765.28) 666.15 490.64
59.16 600.65
Income Taxes Paid / (Refund) received (9.11) 8.17
Net Cash Inflow / (Outflow) from Operations (A) 68.27 592.48
n. CASH FLOW ARISING FROM INVESnNG ACTIVniES:
a) Interest Income 5.24 1.20
b) Acquisibon of Rxed Assets (61.83) (48.86)
c) Decrease/ (Increase) in Bank Deposits (151.65) (208.24) 19.91 (27.75)
Net Cash Inflow / (Outflow) in Course of Investing Activities(B} (208.24) (^7.75)
III. CASH FLOW ARISING FROM FINANCING ACTTVnTES:
a) Proceeds from/ (Repayment of) in Long Tom Borrowings 1,839.69 (90.66)
b) proceeds from/ (Repayment of) in Short Term Borrowings (1,467.47) (121.03)
c] Payment of Lease Uabilides (including interest on lease liabilibes) (42.02) (28.55)
d) Interest Paid (195.09) 135.10 (323.88) (564.11)
Net Cash Inflow/(Outflow) in Course of Mnancing Activities (C) 135.10 (564.11)
Net Inaease/(Oecrease) in Cash/Cash Equivalents (A+B+C) (4.87) 0.62
Add: Cash/Cash Equivalents at the beginning of the period 8.47 6.14
Cash/Cash Equivalents at the end of the period 3.60 6.76
Consists of:
Cash in Hand 3.41 4.15
Bank Balance 0.19 2.61
Closing Cash at the end of the period 6.76
----- End of picture text -----

Notes to Standalone Financial Results:

• 1) The above unaudited standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 5th November 2022 and have been subject to limited review by the statutory auditors of the Company.

• 2) Hie above unaudited standalone finatKial results are In compliance with Indian Accounting Standards (Ind AS) notified by the Ministry of Corporate Affairs, read with SEBl Circular no. aR/CFD/aiDl/44/2019 dated[29th March 2019.]

• 3) file figures of the second quarter in each of the financial year are the balancing figures between figures in reflect of ttie half year end and the year-to-date figures upto the end of the first quarter of the regjecbve financial year.

• 4) Hie Company operates in one segment as 'Industrial Equipment*, since there is no other reportable segment as defined under Ind AS 108 "Opeabng Segments", no separate disclosure has been given.

• 5) Hie Taxation Laws (Amendment) Act, 2019 provides domesbc companies with an option to opt for lower tax rate, provided they do not claim certain deductions. Hie Company has presently considered the rate exisbng prior to the amendment. The Company shall evaluate the option to opt for lower tax rate once it utilises the carried forward losses available under the Income Tax Act.

• 6) The Company had decided to sell a part of Land and Building out of the total factory land and building located at Surat which had been disclosed as Non Current Asset Held for Sale, luring financial year 2021-22, the Company had entered into Memorandum of Understanding(MOU) with the proposed buyer for the sale of this part of the asset which did not materialise. The management of the Company is looking for a new buyer and is hopeful to finalise and execute the deal in near future.

• 7) During the quarter ended 30th September 2022, the Company has written off amount receivable on account of trade receivable from one of its related parties amounting to Rs. 131.56 Lakhs which has been[recognis^ as part of other ejqjenses in the Profit ] and Loss account.

• 8) Hie Code on Social Security, 2020 CCode") relating to employee benefits during die employment and post-employment benefits had been published in the Gazette of India on 28th September, 2020. The Ministry of Labour and Employment had released draft rules for die Code on 13th November, 2020. Hie effecUve date from which these changes are applicable is yet to be noUfied. Hie Company will assess and record the impact, if any, when the rules are nobfied and the Code becomes effecBve.

• 9) FWlowing are the details of Standalone gross sales values of business handled including the values pertaining to agency business handled for whidi the Company earns commission;

Company earns commission;
						Rs. In Lakhs
			STANDALONE
Particulars		Quarter ended		Half Year	Ended	Year ended
	30.09.2022	30.06.2022	30.09.2021	30.09.2022	30.09.2021	31.03.2022
	(Un-Audited)	(Un-Audited)	(Un-Audited)	(Un-Audited)	(Un-Audited)	(Un-Audited)
Gross value of Business Handled (Including agency business)	19,515.85	13,103.84	8,103.74	32,619.69	16,186.51	42,758.30

• 10) Hie figures for the previous periods/year have been redassified/regrouped where ever necessary,

For and on behalf of Board of Directors BaUiboi Ltd.

SAhjlv Joshi Place: Mumbai Managing Director Date: 5th November 2022 DIN: 08938810 Cl

M. CHITALE &CO.

2n<J Floor, Kapur House, Paranjape B Scheme Road No. 1, Vile Parle (E). Mumbai 400057 T; 91 22 2663 3500 www.mmchitale.com

CHARTERED ACCOUNTANTS

Independent Auditor’s Review Report on the unaudited quarterly and year to date Consolidated Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure requirements) regulations 2015, as amended

Review Report to, The Board of Directors Batliboi Limited

1. We have reviewed the accompanying statement of Unaudited Consolidated Financiat Results of Batiiboi Limited (the ‘Parent’) and its subsidiaries (the Parent and its subsidiaries together referred to as the “Group"), for the quarter and six months ended 30’^ September, 2022 (the ‘Statement’) attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and[Disclosure Requirements) Regulations,] 2015, as amended (Wie “Regulations”).

2. This Statement, which is the responsibility of the Parent’s Board of Directors has been approved by them and has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, as amended (the “Act”) read with relevant rules issued thereunder and other accounting principles generally accepted In India and in compliance with Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons 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 Standards on Auditing 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.

(I

MUKUND M. CHITALE &CO.

CHARTERED

ACCOUNTANTS

We also performed procedures in accordance with the circular issued by the Securities and tha Exchange Board of India under Regulation 33 (8) of[the SEBI (uSng OblSnf an^] Disclosure Requirements) Regulations. 2015, as amended,[to the extent applicable. ^]

1. The Statement includes the results of the entities report.

2. as mentioned in the Annexure ‘A’ to this

3. Based on our review conducted and procedures performed as stated in paragraph 3 above and to^in paragraph 7

tebw °nnthin reports of the other auditor referred ^ has come to our attention that causes us to believe that the accompanying

aw ^ accordance with the recognition and measurement principles laid down

in the aforesaid Indian Accounting Standard specified under Section 133 of the Act, read with

harnn/rii^inJ^HTb? o^her accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of Regulation, including the

manner in which it is to be disclosed, or that it contains any material misstatement.

6. Emphasis of Matter

J the Unaudited Consolidated Financial Results, as regards the financial impact of ongoing COVID-19 pandemic situation and the current Geopolitical situation on the Unaudited Consolidated Financial Results iin respect of step-down subsidiary located in Canada.

Our conclusion is not modified in respect of this matter.

7. Other Matters

• a. We did not review the interim financial statements/ financial information/financial results of

• one step down subsidiary included in the Unaudited Consolidated Financial Results whose interim financial statement /financial result excluding consolidation eliminations reflect total assets of Rs. 5.743.19 lakhs as at 30'^ September, 2022, and total revenue of Rs 1 537 17

• profit/(loss) after tax (net) of Rs. 82.42 lakhs and Rs

• (75.65) lakhs and total comprehensive income of Rs. 82.42 lakhs and Rs. (75.65) lakhs for

• the quarter and six months ended 30''’ September 2022 respectively and cash outflow (net)

• P, . ®^d®d 30th September 2022 as considered in theUnaudited Consolidated Financial Results. The interim financial statements /financial results

• have been reviewed by other auditor whose reports have been furnished to us by the

• marjagement and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of the step-down subsidiary is based solely on the report of the other

• auditor and the procedures performed by us as stated in paragraph 3 above.

MUKUND M. CHITALE &CO.

CHARTERED

ACCOU N TANTS

• b. The Unaudited Consolidated Financial Results includes the interim financial results and other financial information in respect of one subsidiary and one step down subsidiary, which has not been reviewed by their auditors whose interim financial statements/ financial information/financial results excluding consoiidation eliminations reflect total assets of Rs. 3,497.36 lakhs as at 30th September, 2022, and total revenue of Rs. 20.06 lakhs and Rs. 40.11 lakhs, total net profit/(loss) aftertax (net) of Rs. (3.12) lakhs and Rs. (11.34) lakhs and total comprehensive income of Rs. (3.12) lakhs and Rs. (11.34) lakhs for the quarter and six months ended 30'^ September 2022 respectively and cash outflows (net) of Rs. 14.27 lakhs for the six months ended 30'’’ September 2022 as considered in the Unaudited Consolidated Financial Results. These unaudited financial results and other unaudited financial information have been approved and furnished to us by the management. Our conclusion, in so far as it relates to the affairs of the one subsidiary and one step down subsidiary, is based solely on such unaudited financial results and other financial information,

• c. As described in Note 3 of the statement, the figures of the second quarter in each of the financial year are the balancing figures between figures in respect of the half year end and the year-to-date figures upto the end of the first quarter of the respective financial year.

Our conclusion is not modified in respect of these matters.

For Mukund M. Chitale & Co, Chartered Accountants Firm Reg. No. 106655W

(A. V. Kamat) Partner

M. No. 039585 UDIN: 22039585BCDXRT5763 Place; Mumbai Date: 5‘^ November 2022

MUKUND M. CHITALE &CO.

CHARTIRED ACCOUNTANT!

Annexure ‘A’

(Referred to in para 4 of our Independent Auditors Review Report on unaudited quarterly and year to date Consolidated Financial Results of the Batliboi Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended)

Sr. No. Name of the Subsidiary

1. Queen Projects (Mauritius) Ltd.

Sr. No. Names of the Step-Down Subsidiaries

1. Quickmill Inc.

2. 760 Rye Street Inc.

BATLIBOI LTD.

Regtf. Office: Bharat House, Floor, 104 Bombay Samachar Marg, Fort, Mumbai-400001 CIN: L52320MH1941PLC003494

UNAUDITED CONSOUDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER, 2022

Particulars		Quarter Ended		Half year	Ended	(Rs. In Lakhs) Year Ended
	30.09.2022	30.06.2022	30.09.2021	30.09.2022	30.09.2021	31.03.2022
1. INCOME	(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)
(a) Revenue from Operations (b) Od>er Incwne TOTAL INCOME	6,630.84 63-44 6,694.28	5,134.04 51.95 5,185.99	4,340-53 96.72 4,437.25	11,764.88 115.39 11,880.27	8,226.81 111.13 8,337.94	19,658.53 213.50 19,872.03
2. EXPENSES
(a) Cost of Materials Consumed (b) Purchase of Stock In Trade (c) Changes In Inventories of finished goods, woticIn progress and stock In trade	2,312.00 1,513.75 192.49	2,512.59 1,423.47 (699.09)	2,225.85 1,021.96 (375.05)	4,824.59 2,937.22 (506.60)	3,724.65 1,633.28 (178.70)	8,317.25 4,035.96 (169.52)
(d) Employees benefits expenses (e) Finance Costs (f) Depreciation & Amortisation expenses (g) Other expenses TOTAL EXPENSES	1,061.48 124.90 98.65 1,058.29 6,361.56	991.28 150.71 94.21 915.04 5,388.21	862.17 191.30 85.99 741.04 4,753.26	2,052.76 275.61 192.86 1.973.33 11,749.77	1,760.49 403.09 184.94 1,324.39 £ 8,852.14	3,754.09 828.53 368.03 2.965.07 20,099.41
3. PROFIT/{LOSS) BEFORE EXCEPHONAL ITEMS AND TAX 4. Exceptional Items - {Expense)/Income	332.72	(202.22)	(316.01)	130.50	(514.20)	(227.38)
5. PROFn/(LOSS) BEFORE TAX 6. Tax Expenses	332.72	(202.22)	(316.01)	130.50	(514.20	(227.38)
(a) Current Tax (b) Earlier Year Tax (c) Deferred Tax Credit / (Charge) (d) Mat Credit Charged 7. NET PROFIT/fLOSS) FOR THE PERIOD 8. Other Comprehensive Income	0.01 (114.95) (11.43) 206.35	(0.99) 96.69 (106.52)	(0.40) (0.95) 55.50 (111.89) (373.75)	(0.98) (18.26) (11.43) 99.83	(1-68) (0.95) 170,40 (111.89) (458.32)	(68,34) (1.92) (60.99) (111.89) (470.52)
(I) Items that will not be reclassified to profit orloss
Actuarial gain/(Loss) on employee defined benefits	13.42	13.96	2.42	27.40	484	59.28
(ii) Income tax relating to Items that will not beredassifled to
profit or loss
Deferred Tax Impact on above	(3.48)	(3.64)	(0.63)	(7.12)	(1.26)	(15.41)
(III) Items that will be redassffied to profit or loss	(10.42)	(16.58)	(14.66)	(27.00)	20.27	57.73
Effects of changes In rates of foreign currency monetaryitems
9. Total Comprehensive Income	205.87	(112.76)	(386.62)	93.11	(434.47)	(368.92)
10. Paid-up Equity Share Capital (Face Value R$.5/- per share)	1/435.79	1,435.79	1/435.79	1,435.79	1,435.79	1/435.79
11. Basic & Diluted EPS for the Period (Rs. Per Share)	0.72	(0.37)	(1.30)	0.35	(1.60)	(1.64)

==> picture [48 x 8] intentionally omitted <==

----- Start of picture text -----

MUMBAI m
----- End of picture text -----

==> picture [596 x 840] intentionally omitted <==

----- Start of picture text -----

BATUBOI LTD.
Regd. Office: Bharat House, 5th Roor, 104 Bombay Samachar Harg, For^ Mumbai-400001
CIN: L52320MH1941PLC003494
UNAUDITED CONSOLIDATED STATEMENT OF ASSETS AND UABILITIES
Particulars As at As at
30-Seo-22 31-Mar-22
(ReviewretH (AuJiteti)
1 Non-current assets
O) Property, Rarit and Equipment 19,263.16 19,182.37
(b) Capital work-in-progress 27.11 160.56
(0 Right of use assets 145.26 179.70
(d) Other Intangible assets 20.94 18.58
(e) Financial Assets
Investments 5.27 5.27
II. Trade receivables 258.09 376.93
III. Loans 0.31 0.40
(f) ocher non-current assets 97.30 100.62
19J17.44 M.024.43
2 Current assets
(a) Inventtyies 4,008.20 3,422.82
(b) Financial Assets
I. Trade receivables 2393.02 1,879.51
II. Cash and cash equivalents 38.24 1,168.88
III, Bank balances ocher chan (II) above 186.05 34,39
Iv. Loans 0.88 1.02
V. Others 335.07 353.75
(c> Current Tax Assets (Net) 50.48 3.91
Total curront e«gats 7,511.94 6.864.28
3 Non Current Asset Held for Sale 1,779.39 1,779.39
Total Assets JljiggiZZ, 28.668.10
EQUITY AND LIABlLmES
1 Equity
(a) Equity Share capital 1,4».79 1,435.79
(b> Odier Equity 11,202.TO 11,114.70
1^637.79 12,550.49
LIABlLmES
2 Non-current liabilihes
(a) Fifianclal UablllOes
I. Borrowings 6,173.22 4,225.36
II. Lease Uabllicies 102.15 123.93
III. Trade payables
(a) total outstanding dues of micro enterprises and smal 16.29 11.90
enterprises
(b) total outstanding dues of creditors other than micro 198.18 193.01
enterprises and small enterprises
IV, Other financial liabilities 440.45 414.12
(b) Provlstons 367.92 367.32
(c) Deferred tax liabilities (Net) 1,314.99 1,277.35
Total Non-current llablllUas 8.613.20t 6.612.99
3 Current liabilities
(a) Financial Liabilities
I, Borrowirrgs 2,121.90 3,036.37
II. Lease UablllOes 56.71 68.02
Trade payables
(a) total outstanding dues of mioo enttiprises and small 381.87 479.81
enterpiises
(b) total outstanding dues of creditors other than micro 2,119.85 2,399.30
enterprises and small enterprises
(b) Other current liabilities 2,994.65 3,305.21
(0 Provisgns 182.80 215.91
Total Current liabilities 7.857.78 9.504.62
Total Equity and Liabilities 29.108.77 28,668,10I
CO m
O

----- End of picture text -----*

BATLIBOI LTD. Regd. Office: Bharat Hcuse, 5th Floor, 104 Bombay Samachar Marg, Fort, Mumbai-400001 CIN: L52320MH1941PLC003494

UNAUDITED CONSOUDATED CASH FLOW STATEMENT

==> picture [529 x 615] intentionally omitted <==

----- Start of picture text -----

(Rs. In Lakhs)
Particulars Six months ended Six months ended
30-Sep-22 30-Sep-21
(Reviewed) (Reviewed)
I. CASH FLOW ARISING FROM OPERATING ACnVITlES:
Net Profit / (Loss) Before Tax and Exceptional Items 130.50 (514.20)
Add/ Deduct:
a) Depreciation 192.86 184.94
b) Interest Expense 217.54 340.33
d) Interest on Lease Uabillbes 9.35 4.20
c) (Profit)/ Loss on Sale/Dlsposal of Assets 0.01
f) Provision for Doubtful Debts/Advances 4.46 1.87
e) Debit Balances Written off/Bad Debt 136.67 0.57
g) Gratuity and Leave Encashment Provision 55.15 37.24
i) Interest Income (6.69) (0.98)
J) Unclaimed Credit Balances Written back (11.36) (56.20)
k) Foreign Exchange Loss 3.84 15.87
I) Employee Stock Option Reserve 11811 596.01 2.16 530.01
Operating Profit Before Woiicing Capital Changes 726.51 15.81
Add/ Deduct;
a) Deaease/ (Increase) in Inventories (585.38) (473.19)
b) Deaease/ (Increase) in Trade Receivables and Advances (1,039.50) (536.46)
c) Decrease/ (Increase) in Other Current Assets 22.09 35.21
d) Inaease/ (Decrease) in Trade and Other Payables (613.59) (2,216.38) 716.74 (257.70)
(1,489.87) (241.89)
Income Taxes (Paid)/ Refund received (net) (39.59) (85.44)
Net Cash Inflow / (Outflow) from Operations (A) (1,529.46) (327.33)
II. CASH FLOW ARISING FROM INVESnNG ACTIVniES:
a] Interest Income 6.69 0.98
b) Acquistbon of Rxed Assets (108.56) (70.16)
c) Deaease/ (increase) in Bank Deposits (151.64) (253.51) 19.92 (49.26)
Net Cash Inflow / (Outflow) in Course of Investing Activities(B) (253.51) (49.26)
III. CASH FLOW ARISING FROM FINANaNG ACTIVniES:
a) Proceeds from/ (Repayment of) in Long Term Borrowings 1,815.96 (101.27)
b) Proceeds from/ (Repayment of) in Short Term Borrowings (914.46) 371.78
c) Payment of Lease Liabilities (including interest on lease liabilities) (42.02) (28.54)
d) Interest Paid (207.15) 652.33 (334.03) (92.06)
Net Cash Inflow/(Outflow) In Course of Financing A^^ties (C) 652.33 (92.06)
Net Increase/(Decrease) in Cash/Cash Equivalents (A+B+C) (1,130.64) (468.65)
Add: Cash/Cash Equivalents at the beginning of the period 1,168.88 537.55
Cash/Cash Equivalents at the end of the period 38.24 68.90
Consists of:
Cash in Hand 3.41 4.15
Bank Balance 34.83 64.75
Closing Cash at the end of the period 38.24 68.90
----- End of picture text -----

Notes to Consolidated Financial Results:

• 1) The above unaudited consolidated financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 5th November 2022 and have been subject to limited review by the statutory auditors of the Holding Company.

• 2) The above unaudited consolidated financial results are in compliance With Indian Accounting Standards (Ind AS) notified by the Ministry of Corporate Affairs, read with SEBl Circular no. CIR/CFD/CMDl/44/2019 dated 29th Mardi 2019 and have been subjected to limited review by the Statutory Auditors of the Holding Company.

• 3) The figures of the second quarter in each of the financial year are the balancing figures between figures in respect of the half year end and the year-to-date figures upto the end of the first quarter of the respective hnancial year.

• 4) The Group operates in one segment as 'Industrial Equipment', since there is no other reportable segntent as defined under Ind AS 108 "Operating Segments", no separate disclosure has been given.

• 5) The Taxation Laws (Amendment) Act, 2019 provides domestic companies with an option to opt for lower tax rate, provided they do not claim certain deductions. The Holding Company has presently considered the rate existing prior to the amendment. The Holding Company shall evaluate the option to opt for lower tax rate once it utilises the carried forward losses available under the Income Tax Act.

• 6) The Holding Company had decided to sell a part of Land and Building out of the total factory land and building located at Surat which had been disclosed as Non Current Asset Held for Sale. During financial year 2021-22, the Holding Company had entered into Memorandum of Understanding(MOU) with die proposed buyer for the sale of this part of the asset which did not materialise. The management of the Holding Company Is looking for a new buyer and is hopeful to finalise and execute the deal In near future.

• 7) The ongoing impact of COVID -19 pandemic In Canada is still causing slowdown in economic activity there and the uncertainties caused by the current Geopolitical situation has disrupted the supply chain and delayed offtake by some customers in respect of business operations of our step down subsidiary located In Canada, The Group will continue to closely monitor any future developmenis relating to COVID-19 and the current Geopolitical situation which may have any impact on Its business and financial position.

• 8) During the quarter ended 30th September 2022, the Holding Company has written off amount receivable on account of trade receivable from one of its related parties amounting to Rs. 131.56 Lakhs which has been recognised as part of other expenses in the Consolidated Prorit and Loss account.

• 9) The Code on Social Security, 2020 ("Code") relating to employee benefits during the employment and post-employment benefits has been published in the Gazette of India on 28th September, 2020. The Ministry of Labour and Employment has released draft rules for the Code on 13th November, 2020. The effective date from which tiiese changes are applicable Is yet to be notified. The Holding Company will assess and record the impact, if any, when the rules are notified and the Code becomes effective.

• 10) Following are the details of consolidated gross sales values of business handled Including the values pertaining to agency business handled for which Group earns commission :

Rs. In Lakhs

Particulars			CONSOLIDATED	CONSOLIDATED
		Quarter ended		Half Year Ended		Year ended
	30.09.2022	30.06.2022	30.09.2021	30.09.2022	30.09.2021	31.03.2022
	(Un-Audited)	(Un-Audited)	(Un-Audited)	(Un-Audited)	(Un-Audited)	(Un-Audited)
Gross value of Business Handled (Including	21,021.11	13,508.26	8,625.91	34,529.37	17,998.71	47,809.89
agency business)

• 11) The figures for the previous periods/years have been[reclassified/regrouped where ever necessary.]

Place; Mumbai Date : 5th November, 2022

==> picture [164 x 99] intentionally omitted <==

----- Start of picture text -----

For and on behalf of Board of Directors
Batiiboi Ltd.
•"'"unjiv Joshi
Managing Director
DIN;00173168
----- End of picture text -----