AI assistant
Bhansali Engineering Polymers Ltd. Audit Report / Information 2023
62572_rns_2023-05-21_42a8767d-7c8f-433c-811d-1509c65d211d.pdf
Audit Report / Information
Open in viewerOpens in your device viewer
® b~ANSAli ENqiNEERiNq polyMERS liMiTEd
CIN : L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website : www.bhansaliabs.com
BEPL/SEC/2023/54 21st May, 2023
| To | To |
|---|---|
| The BSE Limited | The National Stock Exchange of India Ltd. |
| orate Relationship DepartmentCorp | Exchange Plaza, C-1, Block G, |
| Ph iroze Jeejeebhoy Towers, | Bandra-Kurla Complex, |
| Dalal Street, | Bandra (E), |
| Mumbai -400 001 | 400 051.Mumbai - |
| Security Code: 500052 | Security Code: BEPL |
Sub: Outcome of Board Meeting - 21st May, 2023.
Dea r Sir/ Madam,
Pursuant to Regulation 30, 33 and 42 read with Schedule III and other applicable Regu la tions of the SEBI (Listing Obligations a n d Disclosure Requirements) Regulations, 20 15 , a s amended, please be informed that the Board of Directors of the Company at its meeting held today, inter alia, considered the fo llowin g:
-
- Approved the Audited Financial Results (Standalon e and Consolidated) for the qu a rter and financial year ended 31 st March, 2023 and took note of the Audit Report issued by the Statutory Auditors of the Company;
- 2 . Recommended a Final Dividend of Re. l (100 %) per Equity Share (of face value of Re .1 each) for the financial year ended 31st March, 2023 and also recommended a On e-time Special Dividend of Rs.14 (1400 %) per Equ ity Share on account of the Company entering into its 40th year of business operations. The total Final and Special Dividend aggregating to Rs.15 (1500 %) is subject to approval of the shareholders of the Company in the ensuing 391h Annual Gen eral Meeting. The s a id Dividend will be paid on or before 30th June, 2023 .
- 3 . Bonus Issue: Recommended the issue of Bonus Shares in th e ratio of 2 : 1 i.e 1 (One) Bonus Equity Share of Re. 1 / - each for every 2 (Two) fully paid-up Equity Shares of Re. 1 / - each held by the Members of the Company on such date, as may be fixed in this regard by the Board as the Record Date and subject to the a pproval of the Members in the ensuing AGM ;
- 4 . Con vening of 39th Annual General Meeting ('AGM') of the Comp any on Monday, 19 th June, 2023 at 11 .00 a .m. through Video Conferencing ('VC') /Other Audio-Visual Means ('OAVM')
- 5 Fixed the date of closure of Register of Members and Share Tran sfer Books of the Company from Monday, 12th June, 2023 to Monday, 19th June, 2023 (both days inclusive) for the purpose of holding the 39th AGM a nd payment of Dividend to Equity shareholders. Members holding shares as on the closing hours of Saturday, 10th June, 2023 shall be entitled for Dividend.
- 6 . Approved the re-appointment of Mr. Babulal. M. Bhansali (DIN:OO 102930) as the Managing Director of the Company for a period of 5 years w.e.f.ls1 April, 2024 to 31st March, 2 029 subject to the approval of Members in the ensuing AGM ;
| Satnoor Plant | : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. |
|---|---|
| Tel. : (07165) 226376/77 /78/79 • E-mail : beplchw@ bhansaliabs.com | |
| Abu Road Plant | : Plot No. SP-138-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026. |
| Tel. : (02974) 226781 /82/83/84 •E-mail : beplabr@ bhansaliabs.com |
bHANSAli ENqi N EERi NG polyM ERS li M iTEd
CIN : L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website : www.bhansaliabs.com
- 7 . Approved the re-designation of Mr. Jayesh B. Bhansali (DIN 01062853) as the Joint Managing Director cum CFO of the Company w.e.L 1st July, 2023 for the period up to 31 st March, 2026 subj ect to the approval of Members in the ensuing AGM;
-
- Noted the resignation of Mr. Kiran H. Bhansali, (DIN: 05243336) Whole Time Director from the Directorship of the Company effective from the closing hours of 2 1st May, 2023, due to health issues.
The Board Meeting commenced at 5.00 pm and concluded at__ pm. 06:41
We hereby enclose the following:
-
- Audit Report on Financial Results (Standalone and Consolidated) for the quarter a nd financial year ended 31st March , 2023, issued by the Statutory Auditors of the Company .
-
- Copy of Audited Financial Results (Standalone and Consolidated) for the quarter a nd financial year ended 31st March, 2023 .
-
- Declaration from the Executive Director cum CFO with respect to unmodified opm10n on Financial Results, as received from the Statutory Auditors of the Compa ny .
- 4 In terms of the SEBI Circular no . CIR/CFD/CMD/4/2015 dated 9th September, 2015, a lso enclosed are the following:
- a . Brief profile and other necessary details of Mr. Babulal M. Bhansali (DIN: 00102930) - Refer Annexure I;
- b . Brief profile and other necessary details of Mr. Jayesh B. Bhansali (DIN: 01062853) - Refer Annexure II
- c. Disclosures in respect of the proposed 1Ssue of bonus equity shares of the Company - Refer Annexure III
You a re requested to take the same on record .
Thanking you ,
Yours faithfully, For Bhansali Engineering Polymers Limited Ashwin M. Patel Company Secretary & GM (Legal) Encl.: As ci.bove ASHWIN MANILAL PATEL Digitally signed by ASHWIN MANILAL PATEL Date: 2023.05.21 18:47:01 +05'30'
INDEPENDENT AUDITOR'S REPORT
To, The Board of Directors of Bhansali Engineering Polymers Limited
Report on the Audit of the Standalone Annual Financial Results
Opinion · · J . I · f BHANSALI We have audited the accompanying Statement of standalone fmanoa 1 esu ts o ENGINEERING POLYMERS LIMITED ('the Company') for the quarter and yea r ended 31 51 March, 2023 ('the Statement'), attached herewith, being bmitt dby the Company puruant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requ11 ements) Regulations, 2015, as amended(' the Listing Regulatio ns').
--·---·--- ·- .
In our opinion and to the best of our information and according to the explanations given to us, the statement:
- a. is presented in accordance with the requirements of Regulation 33 of the Regula tions; and
- b. gives a true and fair view in confo rmity with Ind ian .A ccou nting SCtand a rd 3 4 A" lnte210iln31 1 -- ·ai R ·t· r" ("l i' d AS 34") prescribed under Sect10n 133 of the oni.panies ct, rn an 1epo1 mg , , , . . . . (the " Act") read wi th releva nt rules issued thereunder and other .accountmg principl es generally accepted in India of the net profit and total compreher:srve rn ~and other financial information of the Company for the quarter and year ended .)1st March, _023.
Basis for Opinion
We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") toge ther with the ethical requirements that are relevant to our audit of the Standalone Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfill ed our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.
Management's Responsibilities for the Standalone Financial Results
This Statement, is the responsibility of the Company's Management and approved by the Board of Direc tors, has been compiled on the basis of standalone financial statements for the yea r end ed 31st March, 2023. The Company's Board of Directors are responsible for the preparation and presentation of the Standalone Fi nancial Results tha t give a tru e and fair view of the ne t profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regula tion 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and othe r irregularities; selec tion and a pplica tion of appropriate accountin.1.,..,-=~
HO : E-1603, LAKE FLORENCE, LAKE HOMES, OFF ADI SANKARACHARYA MARG, POWAi, MUMBAI, (MAHARASHTRA)-40007 .
401-402, (4TH FLOOR), SHREEJI CHAMBERS, 32-A, PANCHWATI, UDAIPUR - 313 001. TEL. : 0294 - 2428460, 2425529
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 Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.
In preparing the Standalone Financial Results, the Board of Directors are responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the financial reporting process of the Company.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results 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 this Standalone Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
- Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company 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 Statement 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 Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company to express an opinion on the Standalone Financial Results.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters
The statement includes the results for the quarter ended 31st March, 2023 being the balancing figure between the audited figures in respect of the full financial year ended 31st March, 2023 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to limited review by us, as required under the Regulations.
For Azad Jain & Co
Chartered Accountants
Fir[j~ti~~ 006251C
CA Rishab~~ , I
Partner Membership Number: 400600
Place: Mumbai Dated: 2151 May, 2023 UDIN No: 2.340 06 0 OB~ Z.H H
® bHANsAli ENGiNEERiNG polyMERs liMiTEd
CIN : L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website : www.bhansaliabs.com
| (~ in lakhs) (Except Earning per sha re) | ||||||
|---|---|---|---|---|---|---|
| STANDALONE | ||||||
| PARTICU L ARS | Quarter ended | Yea r ended | ||||
| 31-03 -2023 | 31 -12-2022 | 31-03-2022 | 31-03-2023 | 31/03/2022 | ||
| Audited | Unaudited | Audited | Audited | Audited | ||
| INCOME | ||||||
| Gross Revenue including GST | 38,691.03 | 39,998.05 | 51 ,940.83 | 1,60,779 02 | 1.63.834.66 | |
| Less:GST Recovered | 5,901.04 | 6.101 27 | 7.373.44 | 24,523.36 | 24.439.66 | |
| Ill Revenue from operations (Net of GST) (1-11 ) | 32,789.99 | 33 896.78 | 44 567.39 | 1 36,255.66 | 1,39,395.00 | |
| IV Other Income | 782 .84 | 698.18 | 447 .15 | 2.891 .28 | 1,901 .91 | |
| v Total Income (lll+IVI | 33 572.83 | 34 594.96 | 45,014.54 | 1 39 146.94 | 1,41 296.91 | |
| VI EXPENSES | ||||||
| (a) Cost of materials Consumed | 19.674 74 | 20,070.91 | 23.569 81 | 87.44057 | 68,627 .75 | |
| (b) Purchase of stock-in-trade(c) Changes 1n inventories of finished goods. | 2.143.732.66985 | 3.539 82 | 7 .350.4 7(1,096 73) | 7.708.553.400 20 | 9.520 76(3.28883) | |
| work-in-progress and stock-in-trade | 1.838.30 | |||||
| (d) Employee benefits expense | 859.40 | 1,131 .92 | 1.571 .05 | 4.678.48 | 7.259 52 | |
| (e) Finance Costs | 8.79 | 13.47 | 4.47 | 117.22 | 16.75 | |
| (f) Depreciation & amortisation expenses | 244.32 | 250.75 | 246.04 | 991.64 | 996.33 | |
| (qi Other expenses (Refer Note No. 31 | 5.233.90 | 3, 177.76 | 3,069.57 | 15,331.04 | 10,955.99 | |
| TOTAL EXPENSES (a to q ) | 30 834.73 | 30 022.93 | 34 714.68 | 119,667.70 | 94 088.27 | |
| VII Profit /(Loss) before exceptional and extraordinary items | ||||||
| and tax (V - VI) | 2,738.10 | 4,572.03 | 10,299.86 | 19,479.24 | 47,208.64 | |
| VIII Exceptional Items | ||||||
| IX Profit /(Loss) before extraordinary items and tax (VII- VIII) | ||||||
| x Extraordinary items | 2 738.10 | 4 572.03 | 10 299 .86 | 19,479.24 | 47,208.64 | |
| Profit I (Loss) before share of net profiU(loss) of | ||||||
| investment accounted for using equity method and tax (IX - | 2,738.1 0 | 4,572.03 | 10,299 .86 | 19,479.24 | 47,208.64 | |
| XI XI | ||||||
| Share of net profiU(loss) from Joint venture accounted for using | ||||||
| XII the equity method | ||||||
| XIII Profit I (Loss) before tax (Xl+Xll) | 2,738.10 | 4,572.03 | 10,299.86 | 19,479.24 | 47 ,208.64 | |
| XIV Tax Expenses | ||||||
| (i) Current tax | 1.304 28 | 1,238.91 | 2.938.53 | 5.850 98 | 12.221 .74 | |
| (ii) Deferred tax | 26.49 | 1.39 | 49.68 | 35.38 | 41 .56 | |
| xv Profit I (Loss) for the period (XIII- XIV ) | 1 407.33 | 3 331.73 | 7 311 .65 | 13 592.88 | 34 945.34 | |
| XVI Other Comprehensive Income I (loss) (net of tax) | (36.461 | 123.231 | 129.971 | 113.311 | ||
| XVII Total Comprehensive Income I (Loss) tor the period \AV | 1,370.87 | 3,331 .73 | 7,288.42 | 13,562.91 | 34,932.03 | |
| +XVI ) | ||||||
| XVIII Paid Up Equity Share Capital | 1,659.06 | 1.659.06 | 1.65906 | 1,659 06 | ||
| 1,659.06 | ||||||
| XIX Earnings per share (of<.1/- each) (not annualised) | ||||||
| (i) Basic | 0.85 | 2.01 | 4.41 | 8.19 | 21.06 | |
| (ii) Diluted | 0.85 | 2.01 | 4.41 | 8.19 | 21.06 | |
| Notes : | ||||||
| 1 The Audited Standalone Financial Results have been prepared in accordance with the recognition and measurement principles provided in Indian | ||||||
| Accounting Standards (l ndAS 34), the provisions of the Companies Act, 2013 (the Act). as applicable and guidelines issued by the Securities and | ||||||
| Exchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations . 201 5, iSEBI (LODR) Regulations, | ||||||
| 2015] as amended. | ||||||
| 2 The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meeting held on | ||||||
| 21st May , 2023 | ||||||
| The Other Expenses for the Quarter ended 31st March,2023, comprise of CSR Expenditure incurred by the company amounting to~ 221 1.71 Lakhs | ||||||
| for the Promotion of Art and Culture at Rajasthan. | ||||||
| In accordance with Regulation 33 of the SEBI (LODR) Regulations . 2015. the above Unaudited Standalone Financial Results ol the Company are | ||||||
| posted on Company's website (www.bhansaliabs .com) and on the website of SSE Limited (www.bseindia.com) and the National Stock Exchange of | ||||||
| Jn d1a Limited (www.nseindia .com}. where the Company's shares are listed. | ||||||
| The figu res for the quarter ended 31st March. 2023 and 31st March. 2022 are the balancing figures between the audited figures in respect of the full | ||||||
| financia l yea r and the reviewed year+to-date figures up to third quarter of the respective financial year. | ||||||
| During the Financial Year ("FY") 2022-23, the Board of Directors had declared 1st and 2nd Interim Dividend of | each (200 %) per Equity Share | |||||
| (of the face value of 1 each). which was paid on 18th July. 2022 and 16th October. 2022 respectively. Further. the Board of Directors 1n its meetingheld on 21st May. 2023, has recommend ed a Final Dividend of | /- (100 %) per Equity Share (of face value of | 1 each) for the financial year | ||||
| ended 31st March. 2023 and also recommended a One-time Special Dividend of | 14 /- (1400%) per Equity Share on account of the Company | |||||
| entering into its 40th year of business operations The total Final and Special Dividend aggregating to | 15/- (1500%) is subject to approval of the | |||||
| shareholders 1n the ensuing Annual General Meeting.Considering the above. the total Dividend declared and recommended for FY 2022-23 amounts | ||||||
| to U7/- (1700 %) per Equity Share. | ||||||
| The Board of Directors in its meeting held on 21st May. 2023. proposed the issuance of Bonus Equity shares in the ratio of One Equity Share of the | ||||||
| face value of t 1/- each for every Two Equity Shares of ~1 /- each fully paid-up held . subject to approval of the shareholders in the ensuing Ann ~alGeneral Meeting | ||||||
| The Company operates in a single segment namely "Highly Specialized Engineering Thermoplastics" | / | '· | ||||
| 3456789 | F 1gures for the previous Penod/ Year have been re-grouped/ reworked/ re-arranged wherever necessary, jE( make them comparable. | /§"/ | ||||
| ~~~r~""' ,,,,m •• u , | ~( ~UMBA\ ~J | |||||
| nsali | ||||||
| Place : MumbaiDated : 21st May, 2023 | g g · ectorDIN:00102 30 | ~" ?ta ¥- |
Satnoor Plant Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. Tel. : (07165) 226376/77/78/79 •E-mail : [email protected] Abu Road Plant Plot No. SP-1 38-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026. Tel. : (02974) 226781 /82/83/84 •E-mail : [email protected]
® b~ANSAli ENqiNEERiNq polyMERS liMiTEd
CIN : L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website : www.bhansaliabs.com
| STATEMENT OF AUDITED STANDALONE ASSETS AND LIABILITIES | |||
|---|---|---|---|
| AS AT 31ST MARCH, 2023 | |||
| (~in lakhs\ | |||
| Particulars | As at 31stMarch 2023 | As at 31stMarch 2022 | |
| A Assets | |||
| 1) Non-Current Assets | |||
| (a) Property, Plant and Equipment | 13,957.42 | 14,452.27 | |
| (b) Capital work in progress | 40.44 | - | |
| (c) Intangible assets | 0.30 | 0.85 | |
| (d) Financial assets | |||
| (i) Non- current Investments | 112.80 | 112.80 | |
| (ii) Loans | 14,780.00 | 4,200.00 | |
| (iii) Other financial assets | - | - | |
| (e) Other non-current assets | 973.55 | 392.31 | |
| Total Non-Current Assets (A) | 29,864.51 | 19,158.23 | |
| 2) Current Assets | |||
| (a) Inventories | 17,081.41 | 19,742.09 | |
| (b) Financial assets | |||
| (i) Trade Receivables | 23,796.23 | 28,240.57 | |
| (ii) Cash and cash equivalents | 15,230.52 | 7,728.40 | |
| (iii) Bank balances other than (ii) above | 12,719.31 | 13,137.63 | |
| (iv) Loans | 15,447.62 | 21 ,702.22 | |
| (v) Other Financial assets | 499.24 | 415.43 | |
| (c) Other current assets | 1,893.60 | 602.06 | |
| Total Current Assets (B) | 86,667.93 | 91,568.40 | |
| Total Assets (A)+ (B) | 1, 16,532.44 | 1, 10, 726.63 | |
| B Equity & Liabilities | |||
| 1) Equity | |||
| (a) Equity share capital | 1,659.06 | 1,659.06 | |
| (b) Other Equity | 1,04,966.95 | 96,381 .20 | |
| Total Equity (A) | 1,06,626.01 | 98,040.26 | |
| 2) Liabilities | |||
| Non-Current Liabilities | |||
| (a) Financial Liabilities | 86.00 | 57.55 | |
| (b) Provisions | 91 .15 | 100.25 | |
| (c) Deferred tax liabilities (Net) | 1,760.65 | 1,735.35 | |
| Total Non-Current Liabilities (B) | 1,937.80 | 1,893.15 | |
| Current Liabilities | |||
| (a) Financial Liabilities | |||
| (i) Trade payables | |||
| a) total outstanding dues of micro and small enterprises | 80.59 | 143.24 | |
| b) total outstanding dues of creditors other than micro | 6,151 .76 | 6,839.25 | |
| and small enterprises | |||
| (ii) Other Financial liabilities | 336.83 | 439.36 | |
| (b) Other current liabilities | 1,359.90 | 3,295.20 | |
| (c) Provisions | 39.55 | 35.45 | |
| (d) Current tax liabilities (Net) | - | 40.72 | |
| Total Current Liabilities (C) | 7,968.63 | 10,793.22 | |
| Total Equity and Liabilities (A)+ (B) +( C) | 1, 16,532.44 | 1, 10, 726.63 |
Satnoor Plant : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. Tel. : (07165) 226376/77/78/79 •E-mail: [email protected] Abu Road Plant : Plot No. SP-138-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026.
Tel. : (02974) 226781 /82/83/84 •E-mail: [email protected]
® b~ANsAli ENGiNEERiNG polyMERs liMiTEd
CI N : L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61/62/63/64 • E-mail : [email protected] • Website : www.bhansaliabs.com
| BHANSALJ ENGINEERING POLYMERS LIMITEDStandalone Statement of Cash Flow for the Year ended 31st March, 2023 | ||||
|---|---|---|---|---|
| Particulars | Year ended31st March 2023 | (~in lakhs)Year ended31st March 2022 | ||
| Cash flows from operating activities | ||||
| Profit before tax as per statement of profit and loss | 19,479.24 | 47, 208.64 | ||
| Adjustments to reconcile profit before tax t o net cash flows | ||||
| Deprecia tion of property, pla nt and equipment | 991.09 | 991.15 | ||
| Amortisation of Intangible Assets | 0.55 | 5.18 | ||
| Profit/( Loss) on Disposal/Write Off of Fixed Assets (Net ) | (12.70) | |||
| Net (ga1n)/loss on sale of investments | (12 28) | |||
| Interest income | (2,841.78) | (1,520.64) | ||
| Finance Costs | ||||
| Unrealised exchange (gai n)/ losses | 200.53 | 73.00 | ||
| Operating profit before working capital changes | 17,816.93 | 46,745.05 | ||
| Movement 1n Working Capital : | ||||
| Decrease/ (increase) in Inventories | 2,660.68 | (8,455.51) | ||
| Decrease / (increase) in Trade and other receivables | 4,444.34 | 833.07 | ||
| Decrease/ (increase) in other current fin ancial asset s | (83.81) | (403.34) | ||
| Decrease I (increase) in Other current assets | (1,291.54) | 292.93 | ||
| Decrease I (increase) in Other non cu rrent assets | (598.43) | 58.59 | ||
| Increase I (Decrease) in Trade paya bles | (950.67) | 3,291.50 | ||
| increase I (Decrease) in Provisions | (45.05) | (303 66) | ||
| Increase/ (Decrease ) in other cu rrent financial liabilit ies | (113.86) | 42 .88 | ||
| increase I (Decrease) in other non-current financial liabilit ies | (0.30) | |||
| Increase / (Decrease) in Other cu rrent liabi lities | (1,935.30) | (144.87) | ||
| Cash generat ed from/(used in) operations | 19,902.99 | 41,956.64 | ||
| Direct taxes paid, net of refunds | (5,891.69) | (12,181.02) | ||
| Net cash flow from/ ( used in) operating activities (A) | 14,011.30 | 29,775.62 | ||
| Cash fl ows from investing activities | ||||
| Purchase of Property, plant and equipment includi ng CWIP | (523.02) | (1,349.38) | ||
| Proceeds from sale of Property, plant and equipment | 16.24 | |||
| Fi xed Deposits placed | 458.40 | (10, 727.82) | ||
| Proceeos from Buyback of Investments in JV | 49.48 | |||
| Loans Gi ve n | (18,470.39) | (28,775.00) | ||
| Loans Retu rned | 14,144.99 | 9,263.41 | ||
| Interest income | 2,841. 78 | 1,520.64 | ||
| Net cash from/(used in) investing activities (B) | (1,532.00) | (30,018.67) | ||
| Cash flows from financing activit ies | ||||
| f 1nance Costs | ||||
| Dividend paid on eq uity sha res | (4,977.18) | (4,977.18) | ||
| Net cash from/(used in) fin ancing activities (C) | (4,977.18) | (4,977.18) | ||
| Net increase I (d ecrease) in cash and cash equivalents (A+B+C) | 7,502.12 | (5,220.23) | ||
| Cash and Cash equ iva lents at the begin ning of yea r | 7,728.40 | 12,948.63 | ||
| Cash and Cash equivalents at the end of the year (refer Note 12) | 15,230.52 | 7,728.40 |
Notes
- The above Cash Flow Statement has been prepared under the 'Indirect method ' as set out in the Ind AS-7 on Statement of Cash Flow as notified unoer Compan ies (Accounts) Rules, 201 5.
2.Previous year's figu re s have been regrouped and/or rea rra nged wherever necessary.
Satnoor Plant : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. w
Tel. : (07165) 226376/77/78/79 •E-mail: [email protected] 1: Abu Road Plant : Plot No. SP-138-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 Tel. : (02974) 226781 /82/83/84 •E-mail : [email protected]
INDEPENDENT AUDITOR'S REPORT
To, Th e Board of Directors of Bhansali Engineering Polymers Limited
Report on the Audit of the Consolidated Annual Financial Results
Opinion
WL' have audited the accompanying Statement of consolida ted fin ancial res ults of BHANSALI ENGINEERING POLYMERS LIMITED (' the Com pany'), comprising its joint venture C\ lillpany BHANSALI NIPPON A & L PRIVATE LIMITED (togethe r, ' the Group') fo r the yea r e11ded 31" March, 2023 ('the Statement'), attached here with, being submitted by the Company purs uant to the requirement of Regula ti on 33 of the SEBI (Listing Obli gations and Discl osure Requ irements) Regulations, 201 5, as amended(' the Listing Regulati ons').
ln our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the report of M/ s B.L. Dasharda & Associates, Chartered Accountants, on separate financial statements and the other financial information of Joint Venture, these consolidated financial results for the year:
- a) includes the year to date financial results of the Group;
- b) is presented in accordance with the requirements of Regulation 33 of the Regulations; and
- c) gives a true and fair view in conformity with Indian Accounting Standard 34 " Interim Financial Reporting ("Ind AS 34") prescribed under Section 133 of the Companies Act, 2013 (the "Act") read with relevant rules issued thereund er and other accounting principles gene rally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the quarte r and year ended 31st March, 2023.
Basis for Opinion
We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Act. Our responsibilities under those Standards are furthe r desc ribed in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results sec tion of our report. We are independent of the Company in accordance w ith the Code of Ethics iss ued by the Institute of Chartered Accountants of India (" ICAI") togethe r with the ethical req uirements that are relevant to our audit of the Consolidated Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe tha t the audit evidence obtained by us is sufficient and appropriate to provide a basis for our aud it opinio n.
Management's Respon sib iliti es for the Consolidated Financial Results
This Statement, is the responsibility of the Company's Management and app roved by the Board of Directors, has been compiled on the basis of consolidated financial statements for the year ended 31st March, 2023. The Board of Directors of the companies are responsibl e for the preparation and presentation of the Consolidated Financia l Results that give a tru e and fair of the net profit and other comprehensive income and other financia l in formati on of the .im'°-....
HO : E-1603, LAKE FLORENCE, LAKE HOMES, OFF ADI SANKARACHARYA MARG, POWAi, MUMBAI, (MAHARASHTRA)-400076. Mosi94 1~167046
401-402, (4TH FLOOR), SHREEJI CHAMBERS, 32-A, PANCHWATI, UDAIPUR - 313 001. TEL.: 0294 - 2428460, 2425529
accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group 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 Consolidated Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.
In preparing the Consolidated Financial Results, the respective Board of Directors are responsible for assessing the Group 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.
Those respective Board of Directors are also responsible for overseeing the financial reporting process of the Group.
Auditor's Responsibilities for the Audit of the Consolidated Financial Results
Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results 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 this Consolidated Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
- Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company 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 Statement 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 Consolidated Financial Results, including the disclosures, and whether the Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the Consolidated Financial Results of the Company to express an opinion on the Consolidated Financial Results.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters:
We did not audit the financial statements and other financial information, in respect of its Joint venture whose financial information reflects total assets of ~.629.88 lakhs as at 31st March, 2023, total revenues of ~.498.46 lakhs and total profit of ~.165.89 lakhs for the year ended on that date. These financial statements and other financial information have been audited by other auditor, whose draft reports have been furnished to us by the management. Our opinion, in so far as it relates to the affairs of such Joint venture is based solely on the report of such auditors. Our opinion is not qualified in respect of this matter.
For Azad Jain & Co Chartered Accountants ~~006251C ...ll!!!!ll!llm!:Wl
CA Rtsnabh Verdi.;_..---- •· Partner
Membership Number: 400600
Place: Mumbai Dated : 21st May, 2023 UDIN No: 2..~~ 0 0 6 0 0 ~" 7-
bHANSAli ENqiNEERiNq polyMERS liMiTEd
CIN : L271OOMH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website : www.bhansaliabs.com
| (~.i n lakhs) (Except Earning per sha re) | ||||||
|---|---|---|---|---|---|---|
| CONSOLIDATED | ||||||
| P AR TIC ULAR S | Quarter ended | 31 -03-2022 | Year ended3110312022 | |||
| 31-03-2023Audited | 31-12-2022Unaudited | Audited | 31 -03-2023Audited | Audited | ||
| INCOME | ||||||
| I | Gross Revenue including GST | 38.691 .03 | 39.998.05 | 51,940.83 | 1,60,779.02 | 1,63,834.66 |
| II | Less:GST Recovered | 5.901 .04 | 6, 101 .27 | 7.373.44 | 24,523.36 | 24,439.66 |
| 111 | Revenue from operations (Net of GSTI (1-11)IV Other Income | 32,789.99782.84 | 33,896.78698.18 | 44,567.39447.15 | 1,36,255.662,891 28 | 1,39,395.001,901.91 |
| v Total Income (lll+IVI | 33,572.83 | 34,594.96 | 45,014.54 | 1,39,1 46.94 | 1,41,296.91 | |
| VI EXPENSES | ||||||
| (a) Cost of materials Consumed | 19,674.74 | 20,070.91 | 23,569.81 | 87,440.57 | 68,627.75 | |
| (b) Purchase of stock-in-trade(c) Changes in inventories of finished goods, | 2,143.732.669.85 | 3,539 821,838.30 | 7.350.47(1.09673) | 7.708.553,400 20 | 9,520 76(3.288 83) | |
| work-in-progress and stock-in-trade | ||||||
| (d) Employee benefits expense | 859.40 | 1.131 92 | 1.57105 | 4,678.48 | 7.259.52 | |
| (e) Finance Costs | 8.79 | 13.47 | 4.47 | 117.22 | 16.75 | |
| (f) Depreciation & amortisalion expenses<al (refer="" 3)<="" expenses="" no.="" note="" other="" td="">244.325,233.90250.753,177.76246.043,069.57991 .6415,331.04996.3310,955.99 | 244.325,233.90 | 250.753,177.76 | 246.043,069.57 | 991 .6415,331.04 | 996.3310,955.99 | |
| TOTAL EXPENSES la to al | 30,834.73 | 30,022.93 | 34,714.68 | 1,19,667.70 | 94,088.27 | |
| VII Profit I (Loss) before exceptional and extraordinary items | 2,738.10 | 4, 572.03 | 10,299.86 | 19,479.24 | 47,208.64 | |
| and tax IV - Vil | ||||||
| VIII Exceptional Items | ||||||
| IX Profit I (Loss) before extraord inary items and tax (VII- VIII) | 2,738.10 | 4,572.03 | 10,299.86 | 19,479.24 | 47,208.64 | |
| x Extraordinary items | ||||||
| Profit I (Loss)before share of net profiU(loss) of investment | ||||||
| XI accounted for using equity method and tax (IX -X) | 2,738.10 | 4,572.03 | 10,299.86 | 19,479.24 | 47,208.64 | |
| Share of net profiU(loss) from Join! venture accounted for using | ||||||
| XII the eouitv method | 18.29 | 21.96 | 15.81 | 82 .95 | 58.39 | |
| XI II Profit I (Loss) before tax IXl+Xlll | 2,756.39 | 4,593.99 | 10,315.67 | 19,562.19 | 47,267.03 | |
| XIV Tax Expenses(i) Current tax | 1.304.28 | 1.238.91 | 2.938.53 | 5.850 98 | 12221.74 | |
| I (ii) Deferred tax | 26.49 | 1.39 | 49.68 | 35.38 | 41 .56 | |
| xv Profit I (Loss) for the period ( XIII- XIV ) | 1,425.62 | 3,353.69 | 7,327.46 | 13,675.83 | 35,003.73 | |
| XVI Other Comprehensive Income I (loss) (net of tax) | (36.46) | <23.23\ | <29.97 \ | <13.31 \ | ||
| XVII I otal <.;omprenens1ve income t (Loss) Tor tne penoa I" v+XVI ) | 1,389.16 | 3,353.69 | 7,304.23 | 13,645.86 | 34,990.42 | |
| XVIII Paid Up Equity Share Capital | 1,659 06 | 1,659 06 | 1,659.06 | 1,659 06 | 1.659 06 | |
| XIX Earnings per share (oH.11- each) (not annualised) | ||||||
| (i) Basic | 0.86 | 2.02 | 4.42 | 8.24 | 21.1 0 | |
| l(ii) Diluted | 0.86 | 2.02 | 4.42 | 8.24 | 21.1 0 | |
| Notes: | ||||||
| 1 The Audited Consolidated Financial Results have been prepared in accordance with the recognition and measurement principles provided in Indian | ||||||
| Accounting Standards (lndAS 34). the provisions of lhe Companies Act. 2013 (the Act). as applicable and guidelines issued by the Securities and | ||||||
| Exchange Board of India (SEBI) under SEBI (listing Obligations and Disclosure Requirements ) Regulations. 2015. [SEBI (LODR) Regulations. 20 15) | ||||||
| as amended. | ||||||
| 2 The above results have been reviewed and recommended by lhe Audit Committee and approved by the Board of Directors in their meeting held on | ||||||
| 21st May. 2023. | ||||||
| 3 The Other Expenses for the Quarter ended 31st March,2023, comprise of CSR Expendilure incurred by the company amounting o~ 2211 .71 Lakhs | ||||||
| for the Promotion of Art and Culture at Rajasthan.In accordance with Regulation 33 of the SEBI (LODR) Regulations . 2015. the above Unaudited Consolidated Financial Results of the Company are | ||||||
| posted on Company's website (www bhansaliabs.com) and on the website of BSE Limited (www bse1nd1a com) and the National Stock Exchange of | ||||||
| India Limited (www.nseindia.com). where the Company's shares are listed | ||||||
| 5 The figures for the quarter ended 31st March. 2023 and 31st March . 2022 are the balancing figures between the audited figures in respect of the full | ||||||
| financial year and the reviewed year-to-date figures up to third quarter of the respective fina ncial year | ||||||
| 6 During the Financial Year ("FY") 2022-23. the Board of Directors had declared 1st and 2nd Interim Dividend of U/- each (200 %) per Equity Share (of | ||||||
| the face value of 1 each). which was paid on 18th July, 2022 and 16th October, 2022 respectively. Further. the Board of Directors 1n its meeting | ||||||
| held on 21st May, 2023. has recommended a Final Dividend of ~. | each ( 100 %) per Equity Share (of face value of 1 each) for the financial year | |||||
| ended 31st March. 2023 and also recommended a One-time Special Dividend of { .14/- (1400%) per Equity Share on account of the Companyentering into its 40th year of business operations. The total Final and Special Dividend aggregating to ~.15 /· ( 1500%) 1s subject to approval of the | ||||||
| shareholders in the ensuing Annual General Meeting.Cons1denng the above . the total Dividend declared and recommended for FY 2022-23 amounts | ||||||
| to { .17/- (1700 %) per Equity Share . | ||||||
| 7 The Board of Directors in its meeting held on 21sl May, 2023, proposed lhe issuance of Bonus Equity Shares in the ratio of One Equity Share of the | ||||||
| face value ofeach for every Two Equity Shares of ~11- each fully paid-up held. subject to approval of the shareholders in the enswng Annual | ||||||
| General Meeting. | ||||||
| 8 The Company operates in a single segment namely "Highly Specialized Engineering Thermoplastics'" | ||||||
| 9 Figures for the previous Period/ Year have been re-grouped/ reworked/ re-arranged where~e r necessary, toJ'ake them comparable. | ||||||
| ~ | ||||||
| 4 | ||||||
| ~~'. | 2<br>' | o"m•• Um'"O | ||||
| Place : Mumba i | B.M.Bha I al i | 'f | ||||
| Dated: 21st May, 2023 | Manag ing ire torDIN:00102930 | '· | I~ |
Tel. : (07165) 226376/77/78/79 •E-mail: [email protected] Plot No. SP-138-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026. Tel. : (02974) 226781 /82/83/84 •E-mail : [email protected]
~r
bHANSAli ENqiNEERiNq polyMERS liMiTEd
CIN : L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road , Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61 /62/63/64 • E-mail : [email protected] •Website : www.bhansaliabs.com
| STATEMENT OF AUDITED CONSOLIDATED ASSETS AND LIABILITIESAS AT 31ST MARCH, 2023 | |||
|---|---|---|---|
| (~in lakhs} | |||
| Sr.No. | Particulars | As at 31stMarch 2023 | As at 31stMarch 2022 |
| A Assets | |||
| 1) Non-Current Assets | |||
| (a) Property, Plant and Equipment | 13,957.42 | 14,452.27 | |
| (b) Capital work in progress | 40.44 | - | |
| (c) Intangible assets | 0.30 | 0.85 | |
| (d) Financial assets | |||
| (i) Non- current Investments | 288.54 | 205.59 | |
| (ii) Loans | 14,780.00 | 4,200.00 | |
| (iii) Other financial assets | - | - | |
| (e) Other non-current assets | 973.55 | 392.31 | |
| Total Non-Current Assets (A) | 30,040.25 | 19,251 .02 | |
| 2) Current Assets | |||
| (a) Inventories | 17,081.41 | 19,742.09 | |
| (b) Financial assets | |||
| (i) Trade Receivables | 23,796.23 | 28,240.57 | |
| (ii) Cash and cash equivalents | 15,230.52 | 7,728.40 | |
| (iii) Bank balances other than (ii) above | 12,719.31 | 13, 137.63 | |
| (iv) Loans(v) Other Financial assets | 15,447.62499.24 | 21 ,702.22415.43 | |
| (c) Other current assets | 1,893.60 | 602.06 | |
| Total Current Assets (B) | 86,667.93 | 91 ,568.40 | |
| Total Assets (A)+ (B) | 1,16,708.18 | 1, 10,819.42 | |
| B Equity & Liabilities | |||
| 1) Equity | |||
| (a) Equity share capital | 1,659.06 | 1,659.06 | |
| (b) Other Equity | 1,05, 142.69 | 96,473.99 | |
| Total Equity (A) | 1,06,801 .75 | 98, 133.05 | |
| 2) Liabilities | |||
| Non-Current Liabilities | |||
| (a) Financial Liabilities | 86.00 | 57.55 | |
| (b) Provisions | 91 .15 | 100.25 | |
| (c) Deferred tax liabilities (Net) | 1,760.65 | 1,735.35 | |
| Total Non-Current Liabilities (B) | 1,937.80 | 1,893.15 | |
| Current Liabilities | |||
| (a) Financial Liabilities | |||
| (i) Trade payables | |||
| a) total outstanding dues of micro and small enterprises | 80.59 | 143.24 | |
| b) total outstanding dues of creditors other than micro | 6,151.76 | 6,839.25 | |
| and small enterprises | |||
| (ii) Other Financial Liabilities | 336.83 | 439.36 | |
| (b) Other current liabilities | 1,359.90 | 3,295.20 | |
| (c) Provisions | 39.55 | 35.45 | |
| (d) Current tax liabilities (Net) | - | 40.72 | |
| Total Current Liabilities (C) | 7,968.63 | 10,793.22 | |
| Total Equity and Liabilities (A)+ (B) +( C) | 1, 16, 708.18 | 1, 10,819.42 |
Satnoo r Plant : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. Tel.: (07165) 226376/77/78/79 • E-mail : [email protected]
Abu Road Plant : Plot No. SP-138-143, Ambaji Industrial Area, Abu Road , Dist. Sirohi (Rajasthan) - 307 026. Tel. : (02974) 226781 /82/83/84 • E-mail : [email protected]
bHANSAli ENqiNEERiNq polyMERS liMiTEd
CIN : L271OOMH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail: abstron @bhansaliabs.com •Website : www.bhansaliabs.com
| BHANSALI ENGINEERING POLYMERS LIMITED | ||||
|---|---|---|---|---|
| Consolidated Statement of Cash Flow for the Year ended 31st March, 2023Particulars | Year ended31st March 2023 | (~in lakhs)Year ended31st March 2022 | ||
| Cash flows from operating activities | ||||
| Profit before tax as per statement of profit and loss | 19.479 24 | 47,208.64 | ||
| Adjustments to reconcile profit before tax to net cash flows | ||||
| Depreciation of property, plant and equipment | 991.09 | 991.15 | ||
| Amortisation of Intangible AssetsProfit/ (Loss) on Disposal/Write Off of Fixed Assets (Net) | 0.55(12.70) | 5.18 | ||
| Net (ga in)/ loss on sa le of investments | (12.28) | |||
| Interest income | (2,841 . 78) | (1,520.64) | ||
| Finance costs | ||||
| Un rea lised ex change (gain) I losses | 200.53 | 73.00 | ||
| Operating profit before working capital changes | 17,816.93 | 46,745.05 | ||
| M ovement in Working Capita l: | ||||
| Decrease I (increase) in Inventories | 2,660.68 | (8.455.51 ) | ||
| Decrease / (increase) in Trade and other receivables | 4,444.34 | 833.07 | ||
| Decrease I (increase) in other cu rrent finan cial assets | (83.81) | (403 .34) | ||
| Decrease I (increase) in Oth er current assets | (1,291 .54) | 292.93 | ||
| Decrease I (increase) in Other non current assets | (598.43) | 58.59 | ||
| increase I (Decrease) in Trade payables | (950 67) | 3,291 .50 | ||
| Increase I (Decrease) in Provisions | (45 05) | (303 66) | ||
| Increase I (Decrease) in other current financia l liabilities | (113.86) | 42.88 | ||
| Increase I (Decrease) in other non-current financ ial liabilities | (0.30) | |||
| Increase I (Decrease) in Other current liabilities | (1,935 30) | (144.87) | ||
| Cash generated from/( used in) operations | 19,902.99 | 41,956.64 | ||
| Direct taxes pa id, net of refunds | (5,891.69) | (12,181.02) | ||
| Net cash flow from/(used in) operating activities (A) | 14,011.30 | 29,775.62 | ||
| Cash flows from investing activities | ||||
| Purchase of Property, plant and equ ipment including CWIP | (523 02) | (1 ,34938) | ||
| Proceeds from sale of Property, plant and equipment | 16.24 | |||
| Fixed Deposits placed | 458.40 | ( 10,727 .82 ) | ||
| Proceeds fro m Buyback of Investments in JV | 49.48 | |||
| Loans Given | (18,470.39) | (28,775 .00) | ||
| Loans Returned | 14,144.99 | 9, 263.41 | ||
| Interest income | 2,841. 78 | 1,520.64 | ||
| Net cash from/(used in) investing activities (B) | (1,532.00) | {30,018.67) | ||
| Cash flows from financing activities | ||||
| Finance cost s | ||||
| Dividend pa id on equity shares | (4,977. 18) | (4,977.18) | ||
| Net cash from/( used in) financing activities (C) | (4,977.18) | (4,977.18) | ||
| Net increase/ (decrease) in cash and cash equivalents (A+B+C) | 7,502.12 | (5,220.23) | ||
| Ca sh and Cash eq uiva lents at the begin ning of year | 7,728.40 | 12,948.63 | ||
| Cash and Ca sh equiva lents at the end of the year (refer Note 12) | 15,230.52 | 7,728.40 |
Notes:
- The above Cash Flow Statement has been prepared under the 'Indirect method' as set out in the Ind AS-7 on Statement of Cash Flow as notified under Com pa nies (Accounts) Ru les, 2015. -
ev ou fi es re re rr ge he ve ce sa . ~~~~~~~~~~~~~~~~~!~~~~~~!
Satnoor Plant Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. ""-'~ 'l" Tel.: (07165) 226376/77/78/79 •E-mail : [email protected] Abu Road Plant : Plot No. SP-138-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026. Tel. : (02974) 226781 /82/83/84 •E-mail : [email protected]
® bHANSAli ENqiNEERiNq polyMERS liMiTEd
GIN : L271OOMH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91 -22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website : www.bhansaliabs.com
BEPL/SEC/2023/53
21st May, 2023
| To | To |
|---|---|
| The BSE Limited | The National Stock Exchange of India Ltd. |
| Corporate Relationship Department | Exchange Plaza, C-1, Block G, |
| Phiroze Jeejeebhoy Towers, | Bandra-Kurla Complex, |
| Dalal Street, | Bandra (East), |
| 400 001Mumbai - | 400 051.Mumbai - |
| Security Code: 500052 | Security Code: BEPL |
Sub: Declaration of un-modified opinion - Audit Report on Financial Results \Standalone and Consolidated) for the quarter and financial year ended 31st March, 2023.
Dear Sir,
Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, I hereby confirm that the Statutory Auditors of the Company M/s. Azad Jain & Co., Chartered Accountants, Mumbai (FRN - 006251C) have issued Audit Report with unmodified opinion in respect of Financial Results for the quarter and financial year ended 31 st March, 2023.
Kindly take the same on record.
Thanking you,
Yours faithfully, For Bhansali Engineering Polymers Limited
~=h B. Bhansali Executive Director cum CFO (DIN 01062853)
® bHANSAli ENqiNEERiNq polyMERS liMiTEd
CIN : L271OOMH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail: abstron @bhansaliabs.com •Website : www.bhansaliabs.com
Annexure-1
Details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No . CIR/CFD/CMD/4/2015 dated 9th September, 20 15:
| Sr. | Details of events that need to Information of such event(s) | |
|---|---|---|
| No. | be provided | |
| l | viz.Reasonchangefor | Mr. Babulal M. Bhansali (DIN: 00102930) has |
| Ii | appointment,resignation, | been re-appointed as the Managing Director |
| I,_ . _I | removal, death or otherwise | of the Company. |
| : 2 | ofappointment/Date | The Board of Directors of the Company on the |
| cessationapplicable) &(as | andrecommendationNominationof | |
| rm of appointmentte | Remuneration Committee have approved the | |
| re-appointment of Mr. Babulal M. Bhansali | ||
| (DIN:00102930) as Managing Director for a | ||
| period of 5 years w.e.f. 1st April, 2024 to 31st I | ||
| 1 | subjectMarch,2029,approvalof theto | |
| 1I-t | ~~~~~~~~~~~~-+-~~~~~~~~~~ | shareholders in ensuing 39th AGM.~~~~~~~~~---i |
| I 3 | (incaseprofileBrief | of Mr. Babula! M. Bhansali has dealt m steel |
| appointment) | industry for about 15 years and thereafter he | |
| entered mthe ABS &SAN manufacturing | ||
| business since 1986 by way of setting up and | ||
| runmngBhansaliEngineeringPolymers | ||
| asanditsPromoterManagingLimited | ||
| Director. He is pivotal to the entire operations | ||
| of the Company and is successfully spear | ||
| : | heading various activities of the Company | |
| I | includingsourcmgofRawMaterial, | |
| i | Administration,Production,Expansion etc. | |
| 1 | since inceptionr~--+~~~~~~~~~~~~~~+-~~~~_~~~~~~~~~~~~~~~--1 | |
| , 4 | of re1 Disclosurelationships | Mr. Babulal M. Bhansali is the father of Mr. |
| tweencasedirectors(inbe | Jayesh B. Bhansali, Executive Director cum | |
| ofappointmentofa | CFO of Company. | |
| director). |
® bHANSAli ENqiNEERiNq polyMERS liMiTEd
CIN : L271OOMH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website: www.bhansaliabs.com
Annexure- II
| I Sr. !De | tails of events that need to Information of such event(s) | |
|---|---|---|
| ! no ib | e provided | |
| I 1 | Reasonchangeviz.for | Mr. Jayesh B. Bhansali (DIN: 01062853) has |
| ! | a-p·pointment,resignation, | been re-designated as the Joint Managing |
| rem-eval-,-death or otherwise | Director cum CFO of the Company. | |
| 12 | ofappointment/Date | Th e Board of Directors of the Company on |
| ee-ssatian (as applicable) & | therecommendationofandNomination | |
| ! | term of appointment | Remuneration Committee have approved the |
| Jayesh B.re-designation of Mr.Bhansali | ||
| (DIN: 01062853) as Joint Managing Director | ||
| II | cum CFO of the Company w.e.f 1 StJuly, | |
| !: | 2023 for the period upto 31st March, 2026, | |
| I | subject to approval of the shareholders in | |
| !- | ensuing 39th AGM. | |
| j 3 | ' Brief profileI | Mr. Jayesh B. Bhansali, Executive Director |
| ! | cum CFO of the Company deals with various | |
| but notof Companyincludingportfolios | ||
| limited to Marketing, Finance and General | ||
| Ii | andpossessesAdministrationvast | |
| ' | experience and expertise in the overall affairs | |
| of Company. | ||
| : 4i | ; Disclosurere la tionshi psof | Mr. Jayesh B. Bhansali lS the son of Mr. |
| i | I betweendirectors(incase | Babulal M. Bhansali, Managing Director of |
| I oofappointmentfa | Company. | |
| • I director).I |
An ISO 9001 : 2015 Company [§2]® bHANsAli ENGiNEERiNG polyMERs liMiTEd
CIN : L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91 -22) 2621 6060/61 /62/63/64 •E-mail : [email protected] •Website: www.bhansaliabs.com
Annexure-111
The detailed disclosure for Bonus issue as required under Regulation 30 of the Listing Regulations read with SEBI Circular No . CIR/CFD/CMD / 4 / 2015 dated 9th September, 2015 .
| Sr.I No. | Particulars | Description |
|---|---|---|
| I 1.! | Type of securities proposed to be issued(viz. equity shares, convertibles etc.)1~~~+--'--~~__._----" | Equity Shares~-'--~~~~~~--''---~~-+-~~~~~~~~~~~~~~--1 |
| ' 2 . | Type of Issuance | Bonus Issue |
| 1 3. | Total number of securities proposed to beissued or totalamount forthewhichsecurities will be issued (approximately) | 8,29,52,820SharesEquityofeachamountingtoRe . l,820 /-,29,52(Rupees EightRs.8Crore Twenty Nine Lacs Fifty TwoThousand Eight Hundred Twentyonly). |
| 14. | Whether bonus 1sout of free reservescreated out of profits or share premiumaccountI | The bonus Equity Shares will beissuedoutofreservesfreeand/ orpremiumsecuritiesaccounttheCompanyofavailable as at March 31, 2023. |
| 15 ' .IIII | Bonus ratio.---~-+~~~~~~~~~~~~~~~~~~~+--~~~~~~~~~~~~~------1 | Bonus Equity2: 1 1.e.1(One)Share of Re. 1 / - each for every 2(Two) fully paid-up equity shareseach held as on theof Re. 1 / -record date . |
| ' 6. | Details of share capital -pre and postbonus issue1j | BonusSharePre-Paid-upCapital:Rs.16,59,05,640 /(Rupees-SixteenCroreNineLacsFiftyThousandHundredSixFiveFortyintodividedonly)16,59,05,640 Equity Shares ofRe. l / -each fully paid up. |
| PostBonusPaidupShareCapital:,88,58,460 /-Rs.24(RupeesTwenty Four Crore Eighty EightLacs Fifty Eight Thousand FourHundred Sixty only) divided into24,88,58,460Shares ofEquityRe . l /-each fully paid up. |
~r bHANsAli ENGi N EERi NG polyM ERS li M iTEd
CIN: L27100MH1984PLC032637
Registered Office : 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 •E-mail : abstron @bhansaliabs.com •Website : www.bhansaliabs.com
| i 7. | and/or sharepremiumreservesFree | Rs.8,'.29 ,5'.2,8'.20 /-\Ku pees t;1gnt |
|---|---|---|
| I | required for implementing the bonus issue | Crore Twenty Nine Lacs Fifty Two |
| I | Thousand Eight Hundred Twenty | |
| ' II | only) | |
| 8 . | and/orpremiumshareFreereserves | Amount (Rs. inParticulars |
| available for capitalization and the date as | Lacs) as on 31st | |
| on which such balance is available | March, 2023 | |
| SecuritiesRs.2977.00 | ||
| II ' | Premium | |
| II | GeneralRs.225.00 | |
| Reserve | ||
| Rs.1,01,764.65Retained | ||
| Earnings | ||
| 9 . | Whether the aforesaid figures are audited | Yes |
| ' 10.' | suchbonusEstimateddatewhichby | BonusissueThebewill |
| 'I | shares would be credited/ dispatched | implementedmonthswithin2 |
| I | I | from the date of Board Meeting |
| I | I | . latest by 20th July, 2023.i.e |
