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B&B Triplewall Containers Limited Interim / Quarterly Report 2021
59095_rns_2021-06-30_c31b13ee-932d-471b-80fd-236618a6b79d.pdf
Interim / Quarterly Report
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Date: June 30th, 2021
Triplewall Containers Limited
To, The Corporate Relationship Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Bandra, Mumbai-400051 MH
NSE SCRIP CODE: BBTCL
SUB: OUTCOME OF THE BOARD MEETING PURSUANT TO REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015.
Dear Sir/Madam,
Pursuant to Regulation 30 read with Schedule III part A of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, this is to inform you that the meeting of the Board of Directors of the Company was held on Wednesday, June 30th 2021 commenced at 3.00 PM and concluded at $\frac{1}{4}$ :15 PM at the Corporate Office Unit III of the Company, wherein the following business transaction has been approved by the Board of Directors:
-
- Considered & Approved the Audited Financial Results for the half year and year ended on 31st March 2021 along with the Auditor Report.
-
- Recommended Final Dividend of Rs. 0.50 Per Share (5% on Rs. 10 face Value per equity share) for the financial year ended on 31st, March 2021, Subject to approval of Member in ensuing Annual General Meeting.
-
- Appointment of Mr. Keyur Ghelani, Practising Company Secretaries, as Secretarial Auditors of the company.
-
- Appointment of Mr. Yuvaraj V. as Internal Auditor of the Company for the Financial Year 2021-22.
-
- Alteration of Object Clouse of the Memorandum of Association of Company.
We request you to kindly take note of the above on records and acknowledge the receipt.
Thanking you, Yours faithfully. FOR B&B TRIPLEWALL CONTAINERS LIMITED
Registered Office & Unit-I B&B Triplewall Containers Ltd. Sy.No. 263/2/3, Marsur Madiwal Village Kasaba Hobli Anekal Taluk, Bangalore - 562106 E-mail: [email protected] CIN.L21015KA2011PLC060106
Corporate Office & Unit-III B&B Triplewall Containers Ltd. Survey No.75/1A2, 75/1B1, 73/2A, Thiyagarasanapalli Village, Shoolagiri Taluk, Krishnagiri District - 635 117 E-mail: [email protected]
Enclosing herewith the following documents:
- a) Audited Financial Results (Standalone) for the half year / year ended March 31, 2021,
- b) Auditors' Reports with unmodified opinions on the aforesaid Audited Financial Results (Standalone),
- c) Declaration from Ravi Agarwal, Director cum CFO, under SEBI Circular No. CIR/CFD/CMD/56/2016,
- d) Brief Profile of Secretarial Auditor,
- e) Brief Profile of Internal Auditor &
- f) Brief detail for Alteration of Object Clouse of the Memorandum of Association.
Note: We shall inform you in due course Record date, date Annual General Meeting for the year ended March 31, 2021 and the date from which dividend, if approved by the shareholders, will be paid or warrants thereof despatched to the shareholders.
Independent Auditor's Report on the Half Yearly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended, to the Board of Directors of B&B Triplewall Containers Limited.
CHARTERED ACCOUNTANTS
To
The Board of Directors of B&B Triplewall Containers Limited
Report on the audit of the Standalone Financial Results
We have audited the accompanying financial statements of B&B TRIPLEWALL CONTAINERS LIMITED (Formerly known as B&B Triplewall Containers Private Limited, MNM Triplewall Containers Private Limited) ("the Company"), for the half year ended on 31st March 2021 and the year ended on 31st March 2021 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
- is presented in accordance with the requirements of the Listing Regulations in this regard; and $(i)$
- gives a true and fair view in conformity with the applicable accounting standards prescribed under $(ii)$ Section 133 of the Companies Act, 2013 (the "Act') and other accounting policies generally accepted in India, of the net profit and other financial information of the Company for the half year ended 31 March 2021 and for the year ended 31 March 2021.
Basis for Opinion
We conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended (" the Act "). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on financial statements.
Emphasis of matters:
We draw attention to note no. 9 of the audited stand-alone financial results, as regards the management's evaluation of COVID-19 pandemic impact on the carrying value of the assets of the Company as at 31st March 2021 and the operations of the Company.
Management's Responsibilities for the Financial Results
The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation of the financial results that give true and fair view of the net profit and other financial information in accordance with the applicable accounting
Office: 9005, World Trade Centre, Ring Road, Surat - 395 002. Mo.: 98253 04177 E-mail: [email protected] H.O.: Delhi · B.O.: Ahmedabad - Hydrabad - Kolkatta - Mumbai - Noida
Management's Responsibilities for the Financial Results
The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation of the financial results that give true and fair view of the net profit and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is 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 the Statement.
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 Statement, 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. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls with reference of financial statements in place and the operating effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
- Conclude on the appropriateness of the Board of 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 Company's ability 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 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 Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
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 compiled 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.
The Statement includes the result of the Half Year ended 31 March 2021 being the balancing figures between the audited figures in respect of the full financial year ended 31 March 2021 and the published audited year to date figures up to the end of the half year ended on 30 September 2020, which were subject to limited review by us, as required under the Listed Regulations.
For PARY & CO. Chartered Accountants FRN-007288C
CA Rakesh Kumar Jain Partner Membership No.: 106109 Date: 30th June 2021 Place: Surat UDIN: 21106109AAAAAE6303
| B&B Triplewall Containers Limited | ||||||
|---|---|---|---|---|---|---|
| (Formerly known as B&B Triplewall Containers Private Limited, MNM Triplewall Containers Pvt Limited | ||||||
| REGD. OFFICE :- Sy.No. 263/2/3, Marsur Madiwal Village, Kasaba Hobli, Anekal Taluk, Bengaluru - 562 106 | ||||||
| CIN: L21015KA2011PLC060106 | Rs in Lakhs | |||||
| AUDITED FINANCIAL RESULTS FOR THE HALF YEAR AND YEAR ENDED 31ST MARCH 2021 | ||||||
| $\overline{\mathbf{S}}$No. | PARTICULARS | Half Year Ended | Year Ended | |||
| Audited | Unaudited | Audited | Audited | Audited | ||
| 31-Mar-21 | 30-Sep-20 | 31-Mar-20 | 31-Mar-21 | 31-Mar-20 | ||
| $\mathbf 1$ | Income | |||||
| (a) Revenue from Operation | 13,466.49 | 9,969.57 | 9,217.73 | 23,436.06 | 19,117.88 | |
| (b) Other Income | 76.90 | 31.48 | 84.55 | 108.38 | 98.49 | |
| Total Income | 13,543.39 | 10,001.05 | 9,302.28 | 23,544.44 | 19,216.37 | |
| $\overline{2}$ | Expenses: | |||||
| (a) Cost of material consumed | 9,352.25 | 6,974.05 | 6,224.61 | 16,326.30 | 13,449.69 | |
| (b) Purchase of Stock-in-trade | ||||||
| (c) Change in inventory of finishedgoods, work in progress and stock intrade | 27.05 | (286.12) | 340.39 | (259.07) | 208.01 | |
| (d) Employees benefits expense | 717.61 | 547.25 | 625.95 | 1,264.86 | 1,300.44 | |
| (e) Finance Cost | 222.44 | 234.73 | 247.70 | 457.17 | 521.31 | |
| (f) Depreciation and Amortisationexpense | 417.46 | 405.43 | 482.29 | 822.89 | 926.65 | |
| (g) Other Expenses | 1,638.77 | 1,206.46 | 1,025.65 | 2,845.23 | 2,200.94 | |
| Total Expenses | 12,375.58 | 9,081.80 | 8,946.60 | 21,457.38 | 18,607.04 | |
| $\mathbf{3}$ | Profit Before Tax (1-2) | 1,167.81 | 919.26 | 355.68 | 2,087.06 | 609.33 |
| $\overline{4}$ | Tax Expense: | |||||
| Current tax expenses related to currentyear | 359.35 | 212.00 | 99.50 | 571.35 | 100.81 | |
| Current tax expenses related to PriorYear | $\overline{a}$ | $\overline{a}$ | ||||
| Deferred Tax | (71.48) | (71.48) | 55.72 | |||
| $\sqrt{5}$ | Profit/ (Loss) for the Period (PAT) 3-4 | 879.94 | 707.26 | 256.18 | 1,587.19 | 452.81 |
| 6 | Other Comprehensive Income (Net of$\text{Tax)}$ | |||||
| Income Tax Relating to Items that will notbe reclassified to Profit or Loss | (0.13) | (0.13) | 2.05 | |||
| $\rm i$ | Remeasurement of net defined benefitplans | 0.26 | 0.26 | 4.08 | 0.52 | (8.15) |
| $\rm ii$ | Income Tax relating to remeasurement ofnet defined benefit plans | ž, | $\overline{a}$ | $\overline{\phantom{0}}$ | ||
| Total Other Comprehensive Income (Netof Tax) | 0.13 | 0.26 | 4.08 | 0.39 | (6.10) | |
| $\overline{7}$ | Total Comprehensive Income for theperiod | 880.07 | 707.52 | 260.26 | 1,587.58 | 446.71 |
| SNo. | PARTICULARS | Half Year Ended | Year Ended | |||
|---|---|---|---|---|---|---|
| Audited | Unaudited | Audited | Audited | Audited | ||
| 31-Mar-21 | 30-Sep-20 | 31-Mar-20 | 31-Mar-21 | 31-Mar-20 | ||
| 8 | Paid Up equity share capital (Face/Paidup value of Rs. 10) | 2,051.12 | 2,051.12 | 2,051.12 | 2,051.12 | 2,051.12 |
| 9 | Earnings per Equity Share - Afterextraordinary items (not annualised): | 4.29 | 3.45 | 1.57 | 7.74 | 2.13 |
| Basic and Diluted Earnings Per Share.(EPS) | 4.29 | 3.45 | 1.57 | 7.74 | 2.13 |
for and on behalf of the Board B&B TRIPLEWALL CONTAINERS LIMITED
Manish Kumar Gupta Managing Director(DIN 03568502)
Bangalore Date: 30/06/2021
| B&B TRIPLEWALL CONTAINERS LIMITED | ||||
|---|---|---|---|---|
| (Formerly known as B&B Triplewall Containers Pvt Limited, MNM Triplewall Containers Pvt Limited)Registered Office: Sy.No. 263/2/3, Marsur Madiwal Village, Kasaba Hobli, Anekal Taluk, Bengaluru - 562 106 | ||||
| Statement of Assets and Liabilities | ||||
| (All amounts in Indian Rupees, unless otherwise | CIN: L21015KA2011PLC060106 | |||
| stated) | (Amount in Lakhs) | |||
| Particulars | As at March 31, | As at Sep 30 | As at March 31, | |
| 2021 | 2020 | 2020 | ||
| (Audited) | (Unaudited) | (Audited) | ||
| 1 | ASSETS | |||
| Non Current Assets | ||||
| Property, plant & Equipment | 5,601.51 | 4,902.79 | 5,200.14 | |
| Capital Work in Progress | 16.10 | 331.18 | 281.37 | |
| Investment in Property | 87.00 | 90.25 | 93.48 | |
| Other Intangibles Assets | 55.00 | 46.61 | 48.56 | |
| Financial Assets | ||||
| - Loans and Advaces | 112.89 | 112.89 | 105.43 | |
| Other Non Current Assets | 191.15 | 164.25 | 68.01 | |
| Current Assets | ||||
| Inventories | 3,745.11 | 2,801.54 | 2,815.76 | |
| Financial Assets | ||||
| -Trade receivables | 3,840.15 | 3,355.22 | 2,140.22 | |
| -Cash and Cash Equivalents | 10.51 | 13.88 | 11.78 | |
| -Bank balances other than above | 22.50 | 12.09 | 2.33 | |
| -Current Loans and Advances | 339.29 | 355.81 | 472.54 | |
| Other Current Assets | 389.98 | 195.61 | 185.27 | |
| TOTAL - ASSETS | 14,411.18 | 12,382.12 | 11,424.90 | |
| $\mathbf{I}$ | EQUITY AND LIABILITIES | |||
| Equity | ||||
| -Equity share capital | 2,051.12 | 2,051.12 | 2,051.12 | |
| -Other Equity | 4,451.06 | 3,551.65 | 2,863.48 | |
| LIABILITIES | ||||
| Non-current Liabilities | ||||
| Financial Liabilities | ||||
| -Non Current Borrowings | 2,122.25 | 2,218.27 | 2,398.52 | |
| -Other Non current financial liabilities | 26.95 | 26.95 | 25.24 | |
| Provisions | 16.23 | 7.66 | 17.33 | |
| Deferred tax liabilities (net) | 115.36 | 147.31 | 186.84 | |
| Other Non Current Liabilities | 11.57 | 14.51 | 13.50 | |
| Current Liabilities | ||||
| Financial Liabilities | ||||
| -Current Borrowings | 2,253.96 | 887.63 | ||
| -Trade Payables | 1,544.57 | |||
| a) Total Outstanding dues of micro | 24.44 | |||
| enterprise and small enterprise | 29.96 | 16.88 |
| Particulars | As at March 31,2021 | As at Sep 302020 | As at March 31,2020 |
|---|---|---|---|
| b) Total Outstanding dues of creditorsother than micro and small enterprise | 2,281.18 | 1,870.08 | 1,215.66 |
| -Other Financial liabilities | 486.02 | 562.65 | 909.62 |
| Other current Liabilities | 498.93 | 834.81 | 153.00 |
| Provisions | 0.83 | ||
| Current Tax Liabilities (Net) | 72.10 | 178.69 | 29.13 |
| TOTAL - LIABILITIES | 14,411.18 | 12,382.12 | 11,424.90 |
for and on behalf of the Board B&B TRIPLEWALL CONTAINERS SIMITED
Manish Kumar Gupta Managing Director (DIN 03568502) Bangalore Date: 30/06/2021
Bangalore QIPLEWA, İM $\mathcal{S}$ C
B&B TRIPLEWALL CONTAINERS LIMITED
Registered Office : Sy.No. 263/2/3, Marsur Madiwal Village, Kasaba Hobli, Anekal Taluk, Bengaluru - 562 106
CIN: L21015KA2011PLC060106
Cash Flow Statement for the year ended March 31, 2021
| (Amount in Lakhs) | |||
|---|---|---|---|
| Particulars | For the yearended March31, 2021 | For the halfyear endedSep 30, 2020 | For the yearended March31, 2020 |
| Cash Flow from operating activities | |||
| Profit/(Loss) after tax | 1,587.19 | 707.26 | 452.80 |
| Adjustments for non-cash items: | |||
| Depreciation / Amortization | 822.89 | 405.43 | 926.65 |
| Loss on sale of fixed assets | 0.66 | ||
| Interest Expenses | 457.15 | 234.73 | 521.33 |
| Rental Income | (54.89) | (25.73) | (55.95) |
| Interest Income | (2.44) | (0.13) | (2.54) |
| Provision for Gratuity | $\overline{\phantom{a}}$ | $\overline{a}$ | $\overline{a}$ |
| Provision for Income Tax | 499.87 | 212.30 | 156.52 |
| Ind As Transition Adjustment | (7.63) | $\overline{a}$ | (8.15) |
| Operating Profit before working capital changes | 3,302.80 | 1,533.56 | 1,990.66 |
| Movements in working Capital: | |||
| (Decrease) / Increase in Trade Payables | 1,073.07 | 661.83 | (567.63) |
| (Decrease) / Increase Other Financial liabilities | (423.61) | (343.97) | 0.09 |
| (Decrease) / Increase in other current liabilities | 345.93 | 675.43 | (56.12) |
| (Decrease) / Increase in short-term provisions | $\overline{a}$ | $\omega$ | |
| (Decrease) / Increase in Non Current Provisions | (1.09) | (9.17) | 13.87 |
| (Decrease) / Increase in Other Non current financial liabilities | 1.71 | 1.21 | 1.61 |
| (Decrease) / Increase in Other Non current liabilities | (1.93) | 1.01 | (1.93) |
| (Decrease) / Increase in Current Tax Liability | ä, | ||
| Decrease / (Increase) in Other Non-current assets | (123.14) | (96.24) | (58.90) |
| Decrease / (Increase) in inventories | (929.35) | 14.22 | (166.25) |
| Decrease / (Increase) in trade receivables | (1,699.92) | (1,230.00) | 4.43 |
| Decrease / (Increase) in Other Bank balances | (20.17) | (9.76) | 70.08 |
| Decrease / (Increase) in Loans and Advances | (7.45) | (7.96) | 3.14 |
| Decrease / (Increase) in Current Loans and Advances | 133.26 | 116.73 | 180.10 |
| Decrease / (Increase) in Other current assets | (204.71) | (10.34) | 105.30 |
| Cash generated from / (used in) Operations | 1,445.40 | 1,296.55 | 1,518.45 |
| Direct Taxes Paid (Net of Refunds) | 499.38 | 77.25 | 69.63 |
| Net cash flow from / (used in) operating activities(A) | 946.02 | 1,219.30 | 1,448.82 |
| Cash Flow from investing activities | |||
| Purchase of Fixed Assets | (971.80) | (166.18) | (408.64) |
| Sale of Fixed Assets | 7.54 | 5.04 | |
| Rental Income | 54.89 | 25.73 | 55.95 |
| Particulars | For the yearended March31, 2021 | For the halfyear endedSep 30, 2020 | For the yearended March31, 2020 |
|---|---|---|---|
| Interest Income | 2.44 | 0.13 | 2.54 |
| Net cash flow from / (used in) investing activities (B) | (906.93) | (135.28) | (350.15) |
| Cash Flows from financing activities | |||
| Increase (Decrease) in Long Term Borrowings | (276.28) | (185.25) | (828.49) |
| Increase (Decrease) in Working Capital Borrowings | 693.06 | (661.94) | 243.94 |
| Interest Expense | (457.15) | (234.73) | (521.31) |
| Proposed Dividend Paid Thereon | |||
| Net cash flow from / (used in) financing activities (C) | (40.37) | (1,081.92) | (1, 105.86) |
| Net Increase / (Decrease) in cash and cash equivalents$(A+B+C)$ | (1.28) | 2.10 | (7.19) |
| $\overline{a}$ | |||
| Cash and cash equivalents at the beginning of the year | 11.78 | 11.78 | 18.97 |
| Cash and Cash Equivalents at the end of the year | 10.51 | 13.88 | 11.78 |
| Components of Cash and Cash Equivalents | |||
| Cash on Hand | 5.41 | 8.38 | 8.24 |
| With Banks | 5.10 | 5.50 | 3.54 |
| In deposit accounts with original maturity of less than 3months | |||
| Total Cash and Cash Equivalents | 10.51 | 13.88 | 11.78 |
for and on behalf of the Board B&B TRIPLEWALL CONTAINERS LIMITED
Managing Director (DIN 03568502) Place: Bangalore Date: 30/06/2021
NOTES TO THE STANDALONE AUDITED FINANCIAL RESULTS FOR THE HALF YEAR AND YEAR ENDED ON MARCH 31, 2021:
-
- The Audited Financial Statements for the year ended on March 31, 2021 have been reviewed and recommended by the audit committee at its meeting held on June 30, 2021 and approved by the Board of Directors at its board meeting held on June 30, 2021.
-
- This statement has been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 ('Ind AS') prescribed under section 133 of the Companies Act 2013 and other recognised accounting practices and policies to the extent applicable. Beginning 1st April 2020, the company has for the first time adopted Ind AS with a transition date of 1st April 2019. The reconciliation of net profit for the period ended 31st March 2020 reported in accordance with the Indian GAAP to total comprehensive income in accordance with the Ind AS and the transition of Balance Sheet to IND AS at 31st March 2020 and 1st April 2019 is given in Annexure A.
-
- The Ind AS compliant corresponding figures for the half year ended 31st March 2020 have not been subjected to Limited Review or Audit. However the management of the company has exercised necessary due diligence to ensure that the financial results provide a true and fair view of its affairs.
-
- The figures for the half year ended 31st March 2021 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the six months ended 30th September 2020 of the relevant financial year.
-
- The Board of Directors at its meeting held on 30th June 2021 had recommended the dividend of Rs. 0.50 per equity share of Rs. 10 each for the financial year 2020-21.
-
- Previous period figures have been regrouped/re-classified wherever necessary to make the same comparable.
-
- Requirement of AS-17th "Segment Reporting" is not applicable to the Company as it is engaged in single business segment.
-
- The company is not having any subsidiary, associate or joint venture; therefore, only standalone are presented.
-
- The outbreak of Corona virus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Company's operations and revenue during the period were impacted due to COVID-19. The Company has taken into account the possible impact of COVID-19 in preparation of the audited standalone financial results, including its assessment of recoverable value of its assets based on internal and external information up to the date of approval of these audited standalone financial results and current indicators of future economic conditions.
-
- Pursuant to the Taxation Laws (Amendment) Ordinance, 2019 issued on September 20, 2019, corporate assesses have been given the option to apply lower income tax rate with effect from April 01 2019, subject to certain conditions specified therein. The Company has carried out an
evaluation and based on current and its forecasted profits, believes it will be beneficial for the Company to choose the lower tax rate option from the FY 2020-21. Accordingly, the effect in this regard has been considered in measurement of tax expense for year ended March 31, 2021.
- As per requirements of regulation 33 of the Securities and Exchange Board of India, the company is required to publish financial results. Investors can view the audited financial results of the company for the year ended 31st March 2021 on the Company's website www.boxandboard.in or on www.nseindia.com the website of National Stock Exchange (NSE).
For and on behalf of B&B Triplewall Containers Limited
Manish Kumar Gupta Managing Director DIN: 03568502 Date: 30/06/2021 Place: Bangalore
Annexure A
Transition of Balance Sheet to IND AS at 31st March 2020 and 1st April 2019
| As at | As at | |||||||
|---|---|---|---|---|---|---|---|---|
| Particulars | Note | 31st March 2020 | 1st April 2019 | |||||
| ż. | AS | transitionEffect on | Ind AS | A S | transitionEffect on | Ind AS | ||
| Assets | ||||||||
| $\left(1\right)$ | Non-current assets | |||||||
| Property, Plant & Equipment | ⋖ | 52,93,62,139 | (93, 48, 213) | 52,00,13,928 | 44,11,95,890 | |||
| Capital Work in Progress | 2,81,37,251 | 2,81,37,251 | 16,78,10,286 | (1,00,63,560) | 43,11,32,330 | |||
| Investment Property | 4 | 93,48,213 | 93,48,213 | 1,00,63,560 | 16,78,10,287 | |||
| Other Intangible Assets | 48,55,608 | 48,55,608 | 51,49,744 | 1,00,63,56051,49,744 | ||||
| Financial Assets | ||||||||
| - Investments | ||||||||
| -Loans and Advances | ⋖ | 1,73,44,244 | (68,00,896) | 1,05,43,348 | 1,17,68,625 | (9,10,901) | 1,08,57,724 | |
| Deferred tax assets (net) | ||||||||
| Other Non Current Assets | ⋖ | 68,00,896 | 68,00,896 | 9,10,901 | 9,10,901 | |||
| Total of non-current assets | 57,96,99,242 | ı | 57,96,99,244 | 62,59,24,545 | ||||
| $\widehat{c}$ | Current assets | 62,59,24,546 | ||||||
| Inventories | ⋖ | 28,18,90,114 | 3,14,490 | 28,15,75,624 | ||||
| Financial Assets | 26,53,10,395 | (3,59,328) | 26,49,51,067 | |||||
| -Trade receivables | 21,40,22,741 | 21,40,22,741 | 21,44,65,255 | 21,44,65,255 | ||||
| -Cash and Cash Equivalents | 11,77,794 | 11,77,794 | 18,97,197 | 18,97,197 | ||||
| -Bank Balances other than above | 2,33,029 | 2,33,029 | 72,40,670 | 72,40,670 | ||||
| -Current Loans and Advances | S4 | 5,89,54,336 | 1,16,99,814 | 4,72,54,522 | 8,50,23,136 | (1,97,58,806) | 6,52,64,330 | |
| ш | ||||||||
| Other Current Assets | A & | 81,37,932 | (1,03,89,544) | 1,85,27,476 | 1,16,98,853 | 1,73,59,434 | 2,90,58,287 | |
| Total current assets | 56,44,15,946 | 16,24,760 | 56,27,91,186 | 58,56,35,506 | (27,58,700) | 58,28,76,807 | ||
| Total Assets | 1,14,41,15,188 | 16,24,760 | 1,14,24,90,430 | 1,21,15,60,052 | (27,58,700) | 1,20,88,01,352 | ||
| Equity and LiabilitiesEquity |
| -Equity share capital-Other Equity | $\cup$ | 21,05,79,400 | (54, 67, 000) | 20,51,12,400 | 21,05,79,400 | (54, 67, 000) | 20,51,12,400 | ||
|---|---|---|---|---|---|---|---|---|---|
| 28,64,82,230 | (1,33,899) | 28,63,48,331 | 24,28,50,960 | (11.73.811) | 24,16,77,149 | ||||
| Total Equity | 49,70,61,630 | (56,00,899) | 49,14,60,731 | 45,34,30,360 | (66, 40, 811) | ||||
| Liabilities | 44,67,89,549 | ||||||||
| $\left( \begin{matrix} 1 \end{matrix} \right)$ | Non-current liabilities | ||||||||
| (a) Financial liabilities | |||||||||
| -Non Current Borrowings | 23,55,99,380 | 42,52,882 | 23,98,52,262 | 31,86,13,004 | 40,88,783 | ||||
| - Other Non Current Financial liabilities | щ | 40,00,000 | (14, 76, 163) | 25,23,837 | 32,27,01,78723,63,143 | ||||
| Provisions | ₹ | 48,77,848 | (31,45,201) | 17,32,647 | 10,04,233 | (6,58,967) | 3,45,266 | ||
| Deferred tax liabilities (net) | 1,86,83,976 | 1,86,83,976 | 1,31,12,398 | ||||||
| Other Non Current Liabilities | 4 | $\bigcirc$ | 1,31,12,398 | ||||||
| 13,49,742 | 13,49,742 | 40,00,000 | (24,57,438) | 15,42,562 | |||||
| Total non-current liabilities | 26,31,61,204 | 26,41,42,464 | |||||||
| $\widehat{c}$ | Current Liabilities | 33,67,29,635 | 9,72,378 | 34,00,65,156 | |||||
| Financial Liabilities | |||||||||
| -Current Borrowings | 15,44,56,811 | 15,44,56,811 | 13,00,62,493 | 13,00,62,493 | |||||
| -Trade Payables | 4 | 12,32,54,845 | 12,32,54,845 | 18,00,17,865 | 18,00,17,865 | ||||
| -Other Financial liabilities | ⋖ | 9,09,62,457 | 9,09,62,457 | ||||||
| Other current Liabilities | 10,61,80,699 | (9,08,80,453) | 9,09,53,638 | 9,09,53,638 | |||||
| Provisions | 1,53,00,246 | 11,13,19,697 | (9,04,07,045) | 2,09,12,652 | |||||
| Current Tax Liabilities (Net) | ⋖ | 29,12,877 | 29,12,877 | ||||||
| Total current liabilities | 38,38,92,355 | 39.76.141 | 38,68,87,236 | 42,14,00,055 | 5,46,593 | 42,19,46,649 | |||
| Total Equity & Liabilities | 1,14,41,15,189 | (16, 24, 759) | 1,14,24,90,430 1,21,15,60,050 | (51, 21, 840) | 1,20,88,01,353 | ||||
| Particulars | ||||
|---|---|---|---|---|
| Note | AS | transitionEffect on | Ind AS | |
| Revenue from operations | $\Delta$ | 1,911,787,851 | 1,911,787,851 | |
| Other income | 64,278,746.00 | (54, 429, 651) | 9,849,095 | |
| Total Income | 1,976,066,597 | |||
| Cost of Raw Material Consumed | 1,921,636,946 | |||
| Purchases of stock-in-trade | $\overline{A}$ | 1,408,382,587 | 63,413,740 | 1,344,968,847 |
| Changes in inventories of finished goods, work-in-progress and Stock-in-Trade | 20,845,964 | 44,839 | 20,801,125 | |
| Employee benefits expense | B | 130,896,227 | 852,685 | 130,043,542 |
| Finance costs | $\cup$ | 51,724,568 | (406, 798) | |
| Depreciation and amortization expense | 52,131,366 | |||
| 92,664,718 | 92,664,718 | |||
| Other expenses | $\Box$ | 212,389,983 | (7,704,285) | 220,094,268 |
| Total Expenses | 1,916,904,047 | 1,770,530 | 1,860,703,866 | |
| Profit/ (Loss) before tax | 59,162,550 | (1,770,530) | 60,933,080 | |
| Tax expense: | ||||
| Current tax | 10,080,634 | $\mathbf{I}$ | 10,080,634 | |
| Deferred tax | 5,571,577 | ı | 5,571,577 | |
| Profit / (Loss) for the period | 43,510,339 | (1,770,530) | 45,280,869 | |
| Other Comprehensive Income | ||||
| or loss(i) Items that will not be reclassified to profit | T | |||
| - Remeasurement Gains/(losses) on defined benefit plans | B | t. | 814,741 | 814,741 |
| be reclassified to profit or loss(ii) Income tax relating to items that will not | T | |||
| - Remeasurement Gains/(losses) on defined benefit plans | $\mathbf{I}$ | |||
| Total comprehensive income for the period | 43,510,339 | (955.789) | 45.280.869 |
Reconciliation of comprehensive income for the year ended 31st March 2020
$\bar{\lambda}$
Notes
First time adoption exemptions
IND AS 101 First-time adoption of Indian Accounting Standards allows first time adopters certain exemptions from the retrospective application of certain IND AS, effective for April 1, 2017 opening balance sheet. Following exceptions to the retrospective application of other Ind AS as per Appendix B of Ind AS 101.
Following exemption availed from other IND AS as per Appendix D of IND AS 101.
The company has elected to apply the deemed cost exemption in Ind AS 101 whereby the company has option to carry all items and classes of property, plant and equipment on the date of transition to Ind AS as per the carrying amounts prevailing as per pervious GAAP. Once this exemption is applied, no adjustment pertaining to property, plant and equipment on the date of transition for effects of retrospective application of other standards is made.
First time adoption exemptions
IND AS 101 First-time adoption of Indian Accounting Standards allows first time adopters certain exemptions from the retrospective application of certain IND AS, effective for April 1, 2017 opening balance sheet. Following exceptions to the retrospective application of other Ind AS as per Appendix B of Ind AS 101.
Following exemption availed from other IND AS as per Appendix D of IND AS 101.
The company has elected to apply the deemed cost exemption in Ind AS 101 whereby the company has option to carry all items and classes of property, plant and equipment on the date of transition to Ind AS as per the carrying amounts prevailing as per pervious GAAP. Once this exemption is applied, no adjustment pertaining to property, plant and equipment on the date of transition for effects of retrospective application of other standards is made.
Notes to the reconciliations:
A. Reclassification
As part of Ind AS first adoption, few financial items are regrouped like Investment property regrouped from Property, Plant and equipment to Investment property, Scrap sales income is regrouped from Other income to raw material consumption. These adjustments do not have any impact on equity.
B. Employee benefit expenses - actuarial gains and losses and return on plan assets
Under Indian GAAP, actuarial gains and losses and return on plan assets on post-employment defined benefit plans are recognised immediately in statement of profit and loss.
Under Ind AS, remeasurements which comprise of actuarial gains and losses, return on plan assets and changes in the effect of asset ceiling, if any, with respect to post-employment defined benefit plans are recognised immediately in Other Comprehensive Income (OCI). Further, remeasurements recognised in OCI are never reclassified to statement of profit and loss. Actuarial gains and losses are recognised in other comprehensive income and transferred to retained earnings. Accordingly, this adjustment does not have any impact on equity.
C. Finance cost
As per Ind AS 32 - Financial instruments - Presentation, Redeemable preference share capital should be classified as liability and measure in amortised cost method. Accordingly, preference dividend is classified as finance cost using effective rate of interest. As per Indian GAAP, the same was presented as part of Equity and Preference dividend is classified as appropriation of profit.
Effect on equity
i) Prefence share capital is presented at present value as on date of transition and the difference between the book value and discounted value is adjusted to the opening reserves as on date of transition;
ii) Preference dividend is classificied from equity to finance cost.
D. Other expense
Pre-operative expenditure which was recognised as an asset in the previous year does not satisify the asset conditions as per Ind AS, hence it was written off to P&L; this effects equity to the same extent.
E. Fair value computation
As per Ind AS 109, the financial assets and financial liabilities should be initially recognised as fair value. As part of first adoption, rent deposits given and taken are measured at fair value using the government of India Bond Yield rate. Due to this remeasurement, difference till the date of transition is adjusted with opening reserves and difference in previous year is adjusted to the statement of P&L. This remeasurement is affecting the equity as well.
Date: June 30th, 2021
To. The Corporate Relationship Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Bandra, Mumbai- 400051 MH
NSE SCRIP CODE: BRTCL
SUB: DECLARATION PURSUANT TO REGULATION 33(3)(d) OF SEBI (LODR) REGULATIONS, 2015.
Dear Sir/Madam,
I, Ravi Agarwal, Director cum CFO of B&B Tripewall Containers Limited, hereby declare that, the statutory Auditor of Company, Pary & Co. Chartered Accountant (firm Reg. No. 007288C), have issued an Audit Report with unmodified opinion on the Audited Financial Result of the Company for the Year ended on March 31st, 2021.
This Declaration is given under compliance of Regulation 33(3)(d) of SEBI (LODR) Regulation 2015 and SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27th, 2016.
We request you to kindly take note of the above on records.
Thanking you,
Yours Faithfully,
FOR B&B TRIPLEWALL CONTAINERS LIMITED
AGARWAI DIRECTOR CUM CFO. DIN: 00636684
Registered Office & Unit-I B&B Triplewall Containers Ltd. Sy.No. 263/2/3, Marsur Madiwal Village Kasaba Hobli Anekal Taluk, Bangalore - 562106 E-mail: [email protected] CIN.L21015KA2011PLC060106
Corporate Office & Unit-III B&B Triplewall Containers Ltd. Survey No.75/1A2, 75/1B1, 73/2A, Thiyagarasanapalli Village, Shoolagiri Taluk, Krishnagiri District - 635 117 E-mail: [email protected]
BRIEF PROFILE SECRETARIAL AUDITOR FIRM
| Particulars | Appointment of Secretarial Auditor |
|---|---|
| Name of the Company Secretary | Mr. Keyur Ghelani |
| Firm Name | M/s. K. P. Ghelani & Associate. |
| Constitution | Proprietorship Firm |
| Membership No. | 33400 |
| COP No. | 12468 |
| Office Address | 812, Star Chambers, Harihar Chowk,Rajkot, Gujarat. |
| Phone No. | 9712274245 |
| E-mail Id | [email protected]do |
| Professional Qualification | Company Secretaries.Banga |
BRIEF PROFILE INTERNAL AUDITOR
| Particulars | Appointment of Internal Auditor |
|---|---|
| Name of the Auditors | Yuvraj V. |
| Work Experience | 15 Years |
| Date of Appointment | June 30th 2021 |
| Address | Plot No.305, Rose Petals Apartment,Om Shanthi Nagar, Hosur - 635 109. |
| Contact No. | 7353751600 |
| E-mail Id | [email protected] |
| Professional Qualification | MBA (Finance) |
Brief detail for Alteration of Object Clouse of the Memorandum of Association of Company.
Our Company is involved in the production of corrugated boxes for which our company need to acquire kraft paper and other paper for its production. In order to ensure regular supply of Kraft paper, Our Company is planning to setup the unit for the production of kraft paper and other paper which fulfilled the need of raw material for the corrugated box and our company are also Setting up Collection Centre to Collect waste paper and scrap which will be used to make Kraft paper. Therefore, Our Company have proposed to amend Objects Clause of the Memorandum of Association (MOA) of the Company, Subject to the approval of Shareholder.
This detail is provided in compliance of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
