Batliboi Ltd — Interim / Quarterly Report 2023

Jul 28, 2023

28.07.2023

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Dear Sir / Madam,

- Subject: Outcome of Board Meeting No. 3/2023 24 under Regulation 30 and Regulation 33 of SEBI (LODR) Regulations, 2015

Pursuant to Regulation 30 and Regulation 33 of SEBI (LODR) Regulations, 2015 we wish to inform you that the Board of Directors at its meeting held today i.e. July 28, 2023 have interalia considered and approved the following matters.

1. The Un-audited Standalone & Consolidated Financial Results of the Company for the Quarter ended June 30, 2023.

2. Limited Review Report on the said Results issued by the Statutory Auditors for the Quarter ended June 30, 2023.

3. Approved the allotment of 86670 equity shares of face value of Rs. 5 each at an exercise price of Rs. 15.75 pursuant to the exercise of options by eligible employees under EMPLOYEE STOCK OPTION PLAN” Scheme of the Company

The equity shares so allotted under the ESOP Scheme shall rank pari passu with the existing equity shares of the Company in all respects.

Post Allotment, the issued and paid-up equity share capital of the Company stands increased from Rs. 14,47,96,070/- comprising of 2,89,59,214 equity shares of Rs. 5/- each fully paid-up to Rs. 14,52,29,420/- comprising of 2,90,45,884 equity shares of Rs. 5/each fully paid up.

Further, the Board of Directors in its today's meeting has also decided to seek approval of the Shareholders through Postal Ballot for the following:

• a) To consider and approve material Related Party Transaction

• b) To consider and approve increase limit for transaction under section 185 of the Companies Act, 2013

• c) To consider and approve remuneration of Mr. Nirmal Bhogilal, Chairman and Whole Time Director of the Company.

• d) To consider and approve remuneration of Mr. Sanjiv Joshi, Managing Director of the Company

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

The Meeting commenced at 12.00 P.M. and concluded at 02:10 P.M.

Kindly take the same on your record.

Thanking you

Yours faithfully,

For Batliboi Limited

POOJA Digitally signed by POOJA ROHIT ROHIT SAWANT SAWANT Date: 2023.07.28 14:32:08 +05'30'

Pooja Sawant Company Secretary ACS - 35790

Place: Mumbai Encl: As above

MUKUND M. CHITALE &CO.

2nct Floor. Kapur Hous«. Pdran)apd B Schema Road No. 1, Vile Parle (E). Mjmbai 400057 T 91 22 2663 3500 www.mmch) tale, com

CHARTERED ACCOUNTANTS

Independent Auditor’s Review Report on the Quarterly[Unaudited Standalone Financial] Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure requirements) regulations 2015, as amended

The Board of Directors Batliboi Limited

1. We have reviewed the accompanying statement of Unaudited Standalone Financial Results of Batliboi Limited (the 'Company') for the quarter ended[30'^ June 2023 attached herewith, being] submitted by the COTipany 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 approved by them, is 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 wfth 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 statements are 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 signiTicant matters that might be identified in an audit Accordingly, we do not express an audit opinion.

MUKUND M. CHiTALE &CO.

CHART6RED ACCOUNTANTS

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 do^ In the aforesaid Indian[Accounting Standard (Ind AS)] specified under Section 133 of the Act, read with relevant[rules issued thereunder and other] accounting principles generally accepted In India,[has not disclosed the information required to] be disposed in terms of the Regulations, Including the manner in it Is to be disclosed, or that It contains any material misstatement.

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

(A. V. Kamat) Partner M. No. 039&85 UDIN: 230395d5BOXBOE6d74 Place: Mumbai Date: 28'^ July 2023

BATUMI LTD.

Ragd. Office: Bharat House, Sth Floor, 104 Bombay Samachar Marg, Pert MiHnbai>400001 ClHs L52320MHig41PLC003404

UHAUDITID CTANDALONE FlNANOAl RESULTS FOR THE QUARTER ENDED aOTH 3UN& 2023

				Ra. In LaIcIu
RJAT1CULARS		STANDALONE
		^larter Ended		VMr Ended
	304W.2023	31.03.2023	30.0S.3022	31.03.2023
	(Review^)	(Reviewed)	(Reyiowed)	(AydRed)
1. INCOME
(a) Revenue from Operations	4,474.36	4,637,41	47»M	i9.46$.4?
CD) Omer Income	118.3S	240,78	S2.62	504 S2
TOTAL INCOME	4rS92.74	4,880.10	4,782,24
2. EXPENSES
(a) Coat of Materials Consumed	1,677.00	1,720.64	1,700.86	6,589.89
(D) Purduse of SlDCh In Trade	1,096.94	2,117.73	1,423.47	5,421.77
(c) Oianges m inventones of finhned goods, wori biprogress and Stock in trade	(105.S1)	31.22	76.24	336.78
(d) Employees benefits expenses	675,82	617.88	612.13	2,410.34
(e) France Costs	108.07	95.94	144.80	485.92
(0 Depreoatiori A Amortisatiori expenses	76,91	82.44	77.19	324.01
(9) Otfier expenses	984.31*	1,024.13	754,19	3.S86.32
TOTAL EXPENSES	4.51X24	4,689.88	4788.88	18,157.03
3. PROFn/(LO$S) 8EPDRE EXCEDnONAL fTEMS AND TAX	80.50	196.21	(6.64)	832.96
4 Exceptional Items
5. PROFn/(LO$S) eEFORE TAX	80.50	198.21	(8.84)	832.98
6. Tax EjqMnsea
(a) CiBreni Tax
{b) Earlier Year Tax
(C) Dcfertial Tax Credit / {Cturge)	7.66	(10.7$)	42.36	35.32
(d) Mat credit/{ReversN}				(11.43)
7. NET Pft0FTr/(L05S) FOR THE PERlOD/YEAft	88.18	177.48	35.72	8S8.85
8. Other Comprehensive income
(i) Items Uiat will r«t be reclassified to pro8t orloss
Actuarial 9ain/(Loss} on empUyee defined benefits	(4.00)	(8.22)	13.98	11.17
(ii) Income tax relating to items diat will not bereebssifted to profit or toss
Deferred Tax impact or atxiv«	1.11	1.73	(3.84)	<3.11)
8. Total ewnpreheneive Income	•5.27	172.87	46.06	864.91
10. Feid'up Equity Share CaMtM	1,447.96	1,444.29	1,435.79	1,44429
(Pace Value rs.S/- pee share)
11. Bask EPS for the Period / year (Rs. Per Share)	0.30	0.62	0.12	2.98
12. Diluted BPS for the Period / year (R*. Per Share)	0.30	0.60	0.12	2.90

” This Indudee an amount of Rs. 104.05 Lakhs Incurred as a one time eiiperse for partxapaDng in a foreign axibiQon to ai^iore new avenue of grow^.

Notts t»ftindatoflc flAMdal Rttults:

• 1) The above unaudited standalone financ>ai results hove been prooered in a<cardance iNitn Vie Indian AccountlnB Standards (Irtf AS) noo^ und^ the Compantes (Indian Accounong standards} Rules 201S as amended ^ bene to tone. The ab(n« unau^Qd standatone Ananoei i^ib n«fe iT^eMtd 9f Audit Commitiee and apfurued by Board of Oveaors at Vieir meecrtg held on 28th ;uly 21723 and have been subjea D linWad bv SCatutOiy audrtors of the Company.

• 2) The figures of Via guartar anded 3lat Hartn 2Q23 are the balandrig Agires Cetyreen the audtad hgi^ In respect of the hjli fVtaneW y«8r sided 3ia March 2023 and the unauAed published year to date hgutes upCo 31sC December 2022, which were subjeato lirrAed '9W by the satutery aud(mr&

• 3) The Compary operaeae in one segment as 'Industrial £dulpmant« anee than Is no oihar rapoitabrie segmm as deftiad imder 2nd AS 208 ’^ipeWng SegmenG*, no separate dlsdceune has been giseti

• *) The Taxation Laws (AmeidmerA) Act, 2010 was enaecad on nth December 2019. It amended the Income Tax AO. 1961 aM ihe Rr^nca Act (No. 2) AO. 2019, It provides domestic ccmpanies wth an gpner to opt for lower teic r«te, pivnded they do not dafm cerGIn deduoons. The Cemparry has not eirercsed the option to opt Ay low tax rate and has pmserVy considered the rate exigSng pnor o the amer«m^.

• 5} The Companv had deoded b sell a pan of Land and Building out of the btal factory land and bunding kxeted at Surat whiA « dipaosed as Non-Current Asset held for sale. The Company continues b looKfor a buyer.

• 6) Queen RojaKB (Haunous) lid, Maur«ijs, Bub^diary Company of the C^mparry is undaf^oing a voluntary liQuldati^ process, as It is dolrable for Bw Company b have dlract convol of Quickmai Inc and 760 Rye Street Ifk. (Canada) which are curranVy Its Step down subsdary Cemparues,

• 7) During the quarter ended 30iri 2we 2023. the Company ttlotted 73.333 equity shares, of face vaiM Ra. 5/* ea# on eceroae af steO opOons by Ihe eiigWe employees under the prevaibng €mployees Slock Option Plan (^SC^) sPiGoe of the Company.

• fl) As informed to the eowAay Stock Sx^ange on July 11. 2023 the Company^ Board of Directors approved proposals b evaluace M explore of Batiiboi ErtYirermental Engmeermg United with the Company, aiming to enhance synergies and siNreholderveiue, and a prefererrcial atotment of eaisty shares by the Company to identified irrrastBrs. A Corporate RestruOuiing Committee d evaluating these proposals, and would present the final propoea to Che Board for Ajrcher acbon.if any.

• 9) Following are the Oeiaiis of Standalone gross sales values of busmeas handled including the values p^tainiig b agency buNnees handNd Am which the Company earns commisston:

Ra. In LaUie

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STANOAIONE
Pertkaiiera Querttf emlod Year ended
30.M.2023 3L03.I023 30,06.3023 3L0a.2023
CUn-Aiidtted) (Uh-Audtted) (Un-Aiidted) (Uh-Audlted)
3ross value of Busmees KandNd (Induding agency buUiess) 13,057 2D 12.996 7B 13,103,94 63,582.95
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10) The Agures for the prevloiB periods/vw rieve been redes^hed/regrauped where ever necessary.

Mice: Mumbel Date ; 2Bth July 2023

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For and on behalf of Board of Dtrectora
BaOiber ltd.
I .!. 0
■-"V J"-//
U Sanjfv Joshi
Managing Director
\ DIM 1 OBB3BBiO
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MUKUND M. CHiTALE &CO.

2no Floof, Kapur House, Paranjape B Scheme Road No.l, Vile Parte (E), Mumbai 4000S7 T; 91 22 2663 3500 www.rnmchitdle.com

CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on the Quarterly[Unaudited Consolidated Financial] Results of the Company pursuant to the Regulation 33 of the SEBI {Listing Obligations and Disclosure requirements] regulations 2015, as amended

llie Board of Directors

Batllboi Limited

1. We have reviewed the accompanying statement of Unaudited Consolidated Financial Results of Batliboi Limited (the 'Parent ) and its subsidiaries,[(the Parent and its subsidiaries together] referred to as Ihe “Group"), for the quarter ended[30^ June, 2023 (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 (the “Regulabon").

2. This Statement, which is the responsibility of the Parent's Board of Directors and have been approved by them, is 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 Perfiymed 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 a CO.

CHARTERED ACCOUNTANTS

• We have also performed procedures in accordance with the Circular No. CiR/CFD/CMD 1/44/2019 dated 29”' March 2019. Issued by the Securities and the Exchange Board of India under Regulation 33 (8) of the Regulations, to the extent applicate.

• The Statement indudes the results of the entities as mentioned in the Annexure 'A’ lo this report.

• S. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard specified ur>der Sectior> 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

6. Other Matters

• a. We did not review the interim financial results and other financial information in respect of one step down subsidiary included in the unaudited consolidated financial results, whose interim financial results excluding consolidation eliminations reflect total revenue of Rs. 1.859.29 lakhs, total net protit after tax of Rs. 71.08 lakhs and total comprehensive income of Rs. 71.06 lakhs for the quarter ended SO”' June 2023. These interim financial results and other financial information have been reviewed by other auditors, whose reports have been furnished to us by the management and our conclusions, in so far as it relates to the affairs of such step-down subsidiary is based solely on the report of other auditors and procedures performed by us as stated in paragraph 3 above.

• b. The unaudited consolidated financial results include unaudited 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 results excluding consolidation eliminations reflects total revenue of Rs. 25.88 Lakhs, total net profit after tax of Rs. 0.22 Lakhs and total comprehensive income of Rs. 0.22 Lakhs for the quarter ended

MUKUND M. CHITALE &CO.

CHARTER6D ACCOUNTANTS

30''' June 2023. 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.

Our conclusion on the Statement Is not modified in respect of these matters.

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

(A. V. Kamat) Partner M. No. 039535 UDIN: 23039585BGXBOF87d1 Place; Mumbai Date: 28*’ July 2023

MUKUND

M. CHITALE A CO.

CHARTERED ACCOUNTANTS

Annex u re 'A'

(Referred to in para 4 of our Independent Auditors Review Report on unaudited quarterly Consolidated Financial Results of the Batliboi Limited pursuant to Regulation 33 of the 5EBI (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. Quickmlll Inc.

2. 760 Rye Street Inc.

MTliBOttm

1^. Office: MmC Hwm, Stti 104 OonMy S(iMd«ar Merg, rvt. HumM>-4000ei am 15Z320MH1041PLCMS494 iMAUemOCONSOODATEOnNAfiaAL RESUtTO FO TKC qiMim CWWD WTH SUM. 2023

lU. M UIM

PAimcUUM		COMOUMTSD	COMOUMTSD
	QUWWMmI
	30jo.2oa	2102.2023	20Jt*.2022	2143.2022
1. nCOME	(nevte^j	lto>i»Hwd)	(•ew—ed)
(a) Reaenue fren Cnraoons	6,33J.S7	6,E?’.95	5,194 M	ISJSJJb
(t) (Xno Inunc TOTAL INCOME	0«42*O	241.03 0403.77	iJ.96 S4M.39	4S3.S 21020.11
(4) Cost of NMnsis ConMtned	Vin.sa	2.w&se	2,512.H	9440.S3
(») Punnase of Stooc in trade	L09S.04	1,117.73	1,423^7	5,421.7?
(c) n irtveneriei of fNchM gcool wcA in pfogiuiiAanon In trade	(357.44)	(tS«	(690.09)	27.64
(d) CnvitMs bmefto oxme AnanceCoss	uoo.oe 12102	1.137.42 99.72	991.28 ii0.7l	4441J3 S2129
(fl DvveMWn 6 NnolieetKr Qpme	104.59	124,15	91.21	4I&96
(j) omeeiperKes	n69.70"		918 <M	4,7».86
	•,21«.93	3403.02	$400.21	24,72047
2.9MfTT/(LMS> i0Oftf filCtmONM mMS AMD TAl	207.30	230.74	(202.221	1.109.94
1 FvcQMoai lime
$. Mt0FTT/(L088} POOH Of HME TAX	207.90	230.74	(20122)	1.L09.94
(a) C>«n9i( Toi	(21.79	(21.98)	(a99)	(77.95)
(b) Ear1i»YearTe
(c) odenw Ta« (Cwge) / creeit	0.09	(18.70;	96.69	35.37
id) Mm OUn / (/camal)				(11.43)
7, NOT MIOFTT/(iOSS} FOR THE POnOO/VOAII	1904A	190.19		mS>.35
0. OtMv CeiwQielaendvR Immm
(i) t(Btr4nRH0 ndberaclasarfiMvpaAorloB
Aouanat gan/djiss) cn amptovee MlOiM Mnefia	(4.00)	(0.22)	13.96	n.I7
(h) Incone m rcBong id itens ra tvO lut be irrliiiiiflrii ts Mtdbo
km
Dderred Tai anpect ca: aOM	Ml	1.73	(3A4>	(All)
() toT« ir« itEl beradas(fia3iDp>cAottos
Bteos c5 <t4n9e& in races Bf (cir«4" ca#r«wv nmtarvItem	0.S0	2247	(16.80)	(2244)
9. T«tal Cempi tnceiM	E974>	214.$7	(132.701	1441.17
la PMO-Hp equity $h»r* cooini	1.447.90	1,444.23	1,435.79	1,444.29
I Pmc Veluc 944/• pet Miere)
11. OeMc OFO^r the PtM / yeerdte. PerSheie)	047	0.03	<0.37)	3.07
12. OllutM CM f«r KM RwteO / year (9^ RwSIwe)	040	0.07	(047)	547

*Th4ii7du0e»«n«n«vt<dB5. lM.Q5LAMr«a0n» Ti a fra^neintoniD n newMfues ctf^onlh

Nottttt COwBdfM Riwndal Bmunti

• 1) The above uneuSttf consolldatefl finenotf resute hav« been p»eparefl in accordance wtch Indian Accoumire SUndwOs (Infl AS) rtooAed u«er cbe Companies (Inoien Acccainwig Standards) Rules 2015 es amendeO from ume U Unw The above onaucHied con»lid«ed finanoal results were reveiwed Dv AuA Committee and appetved by Board oT CmooR at ver meetkig h«a on 2$ih Jury 2023 and ha^ been suDjea lo iinted review 9/ Statuury aucftors erme HoiAng Ccnpany.

• 2) The Agures the Gjuter ended 3is Mar 2023 are de balaneng rigures Dcfneen the audtred figures in icsjMct of the ful thanclal year ended 3ia March 2023 and the unaudited putAshed 'rear to date figures to 3ist December 2022, nfiicri were subjea to limited review Dv (be statutory audicca^ of The Holding Cofflparty.

• 3) The Oouo operates in on# segment, as Tndusmal eqidpment', ence there « no ether reportawe aegnient as OeAvo under ityj as iir -OoeraOM Segments’, no separate dlsdosura has be^ gnret

• 4) The Taxatxm Laws (Amendment} AO. 2019 was enacted on nth Oecsn«er 2019. It anwtded the iwane Tax Act. 1961 and the finance Aa (Ho. 2} Aa 2019. tt orovides domestic ccmparues with an oc«on to opt for lower tax rete, prpiWed they do not daim certain decbcborv. The Hotding CompM> has not exerwed the opuen to opt lor lower tax rate and has presreibv considered the rate cxieUng prfex to M amendmenL

• 5} The HoUIrtg Company nad decided to sell a part cr Land and Building out of the eotai factory land and buHdlng located at Surat wtich Is Ottdosed as Cbrrent Aaec held for ^ The Company concmues to leoH ^ a Du^.

• 6) Queen Pn^ects (MaurtOus) Ud, Haunuifi, immetfate Sut&idlerv Comperiy of the Holdng Company is undergang a vUurRarv bgiddaoen process, as It b desirable ter the Holding Company to have area control of QuiOmill li>c And 760 ffye street Inc. (Canada) wfii* ve otfrenUy IS stn down SuOsOttv Companies.

• 7} Oselng the quarter ended 30th June 2023, Che Hol^g Company aboOPd 73,33 equity shares, of race vahre R& 5/ each on exerose of wcm? optwris the efigiMe erepiorees under the prevaiimg Employees SiocK Opuon Plan (ISOP) echerts of the Holduig Certpany.

• B) As erformed to Che Bombay Stodc Exdianga oo July II, 2023 the Holding Compan/s Board of Direoors apcrored proposals to evaluate and e^lore merger c/ BatOui ErvvRonmental Engineering umited w«h the Company, aiming to aihance synergies and sharehoader velue, and a prefeiwia aKobnentof equRy shares by the Company to UenOted inveaors, A Corporate RastTitOflng is evaluaQng these proposal^ and would present the final proposal to the Board for further aowatfany.

• 9) RAOHing are the details of consolidated gmes sales vaRies ot Ousness handled Including the vMues pertairing to agency buan^ r^Md fv whlOi doup earns ormn&aon

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llA.inLAie
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CONSOLIDATED
PertkaMats Quarter Ended Year ended
30.06.2023 31.03.2023 30.06.2022 31.03.2023
{Un-AudWd) (UwAudfted) (Un-AudW^) (Un-Auditad)
Sross value of Business Kar^dled (Indudmg agency business) H,916.42 14,946.00 13,506 26 69,460.63
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• 10) The figures for the previous penods/years have been reoassined/regrogped where ever necessary.

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Macd: Mumbai
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bald: 290i Juhr, 2023

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Eor and on behalf of Board of DIrecCer
I. BatfboiLU.
I
(iSanJIv 3oshl
Ailing Drrecter
DIN: 06936610
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