Bhansali Engineering Polymers Ltd. — Interim / Quarterly Report 2019

Oct 19, 2018

PILEKOZAL

ANTIRCO

bHANSAli ENGINEERING polymers limited

CIN: L27100MH1984PLC032637

Registered Office: 401, 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61/62/63/64 · Fax: (91-22) 2621 6077 · E-mail: abstron@bhansaliabs.com · Website: www.bhansaliabs.com

Date: 19th October, 2018

To, The Manager BSE Limited. Corporate Relationship Department. Phiroze Jeejeebhov Towers. Dalal Street, Mumbai-400001 Security Code: 500052

To. The Manager (Listing Department) National Stock Exchange of India Limited Exchange Plaza, Bandra- Kurla Complex, Bandra (East), Mumbai - 400 051 Code: BEPL-EQ

Sub: Proceedings of the Meeting of the Board of Directors of the Company held on 19th October, 2018.

Dear Sir/Madam,

In accordance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to intimate that the Board of Directors of the Company, at their Meeting held on Friday, 19th October, 2018 at 401, 4th Floor, Peninsula Heights, C.D. Barfiwala Road, Andheri (West), Mumbai - 400058, which was commenced at 6.00 p.m. and concluded at 07.30 p.m., have inter alia other businesses considered/approved:

Un-Audited Financial Results (UFR) and Statements of Assets & Liabilities of the Company for the quarter and half year ended on 30th September, 2018 pursuant to provisions of Regulation 33(2)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 alongwith Limited Review Report (LRR) thereon issued by the Statutory Auditors as annexed/ furnished herewith.

This is for your information and taking aforesaid details /documents on record.

Thanking You,

Yours Faithfully,

For Bhansali Engineering Polymers Limited

B. M Bhansall Managing Director $(DIN - 00102930)$

Fncl: as above

RIA MUMRA

bHANSAli ENGINEERING POlyMERS limited

CIN: L27100MH1984PLC032637

Registered Office: 401, 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61/62/63/64 · Fax: (91-22) 2621 6077 · E-mail: abstron@bhansaliabs.com · Website: www.bhansaliabs.com

	STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE SECOND QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2018
	(₹ in lakhs) (Except Earning per share)
		STANDALONE
	PARTICULARS	Quarter ended			Half Year ended		Year ended
		30-09-2018	30.06.2018	30-09-2017	30-09-2018	30-09-2017	31-03-2018
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	INCOME
	Gross Revenue including GST & Excise	41,286.26	23,800.34	29,287.19	65,086.60	54,403.85	1,20,455.38
II	Less:GST	6,287.77	3,631.52	4,492.97	9,919.29	4,492.97	14,572.25
Шιv	Revenue from operations (Net of GST, including Excise) (I-II)Other Income	34,998.49	20,168.82	24,794.22	55,167.31	49,910.88	1,05,883.13
v	Total Income (III+IV)	34.00	29.19	204.43	63.19	287.13	1,369.58
$\mathsf{v}$	EXPENSES	35,032.49	20,198.01	24,998.65	55,230.50	50,198.01	1,07,252.71
	(a) Cost of materials Consumed	19,921.49	16,042.53	14,252.73	35,964.02	29,507.66	58,988.94
	(b) Purchase of stock-in-trade	6,217.41	6,116.86	1,368.32	12,334.27	1,784.16	10,218.46
	(c) Changes in inventories of finished goods, work-in-progress and	1,739.29	(7, 535.40)	2,207.81	(5,796.11)	3,341.34	5,198.09
	stock-in-trade
	(d) Excise Duty Recovered					2,713.99	2,713.99
	(e) Employee benefits expense	878.09	834.62	890.77	1712.71	1,670.91	3,742.70
	(f) Finance Cost	13.73	29.08	248.16	42.81	359.42	773.89
	(g) Depreciation & amortisation expenses	178.52	170.75	154.21	349.27	306.50	607.03
	(h) Other expenses (Refer Note 7)	3,488.19	1958.19	2293.19	5446.38	4,158.07	9,578.13
	TOTAL EXPENSES (a to h)	32,436.72	17,616.63	21,415.19	50,053.35	43,842.05	91,821.23
	VII Profit before exceptional and extraordinary items and tax (V - VI)	2,595.77	2,581.38	3,583.46	5,177.15	6,355.96	15,431.48
VIII	Exceptional Items
IX	Profit before extraordinary items and tax (VII- VIII)	2,595.77	2,581.38	3,583.46	5,177.15	6,355.96	15,431.48
х	Extraordinary items
	Profit before share of net profit/(loss) of investment accounted for using	2,595.77	2,581.38	3,583.46	5,177.15	6,355.96	15,431.48
xı	equity method and tax (IX -X)Share of net profit/(loss) from Joint venture accounted for using the equity
XII	method
XIII	Profit before tax (XI+XII)	2,595.77	2,581.38	3,583.46	5,177,15	6,355.96	15,431.48
XIV	Tax Expenses
(i)	Current tax	803.75	810.00	900.00	1,613.75	1,829.24	4,793.82
(i)	Deferred tax	103.20	94.25	173.43	197.44	328.34	673.73
XV	Profit for the period (XIII-XIV)	1,688.82	1,677.13	2,510.03	3,365.96	4,198.38	9,963.93
XVI	Other Comprehensive Income / (loss) (net of tax)	(13.01)	(18.97)	(33.41)	(31.98)	19.96	(22.40)
	XVII Total Comprehensive income / (loss) for the period (XV +XVI )	1,675.81	1,658.16	2,476.62	3,333.98	4,218.34	9,941.53
	XVIII Paid Up Equity Share Capital	1,659.06	1,659.06	1,659.06	1,659.06	1,659.06	1,659.06
	XIX Earnings per share (of ₹.1/- each) (not annualised)
(1)	Basic	1.02	1.01	1.51	2.03	2.53	6.01
(ii)	Diluted	1.02	1.01	1.51	2.03	2.53	6.01
	Notes:
	The above Unaudited Standalone Financial Results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at the meeting held on 19th
	October, 2018.
$\overline{\mathbf{z}}$	The Statutory auditors of the Company have carried out a "Limited Review" of the Unaudited standlone Financial results for the Quarter and Half year ended 30th September, 2018 in terms
	of Regulation 33 of the SEBI (LODR) Regulations, 2015 and have expressed their unqualified opinion.
	The Unaudited Standalone Financial Results have been prepared in accordance with the recognition and measurement Principles provided in Indian Accounting Standards (IND AS 34), the
3	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 Obligation and Disclosure
	Requirements) Regulations 2015, as amended.
	In accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the above unaudited standalone Financial Results of Company are
4
posted on Company's website viz. www.bhansaliabs.com and website of stock exchange viz www.nseindia.com and www.bseindia.com.
5	The consolidation of accounts of company with its Joint Venture Entity will done at the end of the current year.
6	The Company operates in a single segment namely " Highly Specialized Engineering Thermoplastics".
	The increase in Other expenses during the quarter was caused due to Forex Loss of ₹ 1100.67 lakhs on account of appreciation of the dollar against the Indian Rupee.
8	Figures for the previous Period/Year have been re-grouped/reworked/re-arranged writerever necessary, to make them comparable.
			For Ahangali Engineering Polymers Limited			CRUNG A
		ENG
		B.M.Bijansali				ಜMUMBAI
	Place: Mumbai	Managing Director
	Dated: 19th October, 2018	DIN:00102930
						$48 + 0$

..

bl—IANSAli ENqiNEERiNq polyMERs liMiiEd

CIN : L27100MH19B4PLC032637

Registered Olflce : 401. 4th Floor, Peninsula Heights, C. D. Bariiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91—22) 2621 6060/61/62/63/64 - Fax : (91-22) 2621 6077 - E-mail : abslron@bhansaliabs.com - Website :www.bhansaliabs.com

		(T in lakhs)
Sr.	Particulars	As at 30th September 2018		(? in iakhs)As at 31st March 2018
"°~		(Unaudited)	(Audited)
	A) Assets
	1) Non-Current Assets
	(a) Proberty, Plant and Equipment	11,960.76
	(b) Capital work in progress		10,723.96
	(c) Intangible assets	868.34	607.46
	(d) Financial assets	1145	17,44
	(i) Non—current investments
		15000	150.00
	(ii) Loans		-
	(iii) Other financial assets	188.75	197.66
	(e) Other non-current assets	-	-
	Total Non-Current Assets (A)	13,179.30	11,596.52
	2) Current Assets
	':(a) Inventories
	(b) Financial assets	19,421.48	8,002.02
	(i) Trade Receivables	22,795.75	18,541.75
	(ii) Cash andgcash equivalents	986.10	2.683.82
	(iii) Bani? balances other than (ii) above	1,961.08	357.08
	(iv) Loans	1,048.56	3.12
	(v) Other Financial assets	94.17	220.19
	(c) other current assets	1,339.57	634.59
	Total Current Assets (8)	47,646.71	30,692.57
	Total Assets (A)+ (3)	60,828.01	42,389.09
	3) Equity & Uabilities
	1) Equity
	(3) Equity share apital	1,659.06	1,659.06
	(b) Other Equity	27,488.08	24,154.09
	Total Equity (A)	29,147.14	25,813.15
	2) Liabilities
	Non-Current liabilities
	(a) Financial Liabilities	'	'
	(i) Long term borrowings
	(ii) Other Non Current Financial Liability	0-30	0-30
	(b) Long term provisions	358-16	"9'43
	(c) Deferred tax liabilities (Net)	1,241.77	1,061.51
	Total Non—Current Liabilities (8)	1,630.23	1.511-24
	Current Liabilities
	(a) Financial lJabiIities
	(i) Short term borrowings		_
	(ll) Trade payables	28,674.54	12.57413
		110-94	295 21
	(iii) Other Current Financial liabilities		793'"
	(b) Other current liabilities
	(c)Short term provisions	513-2:	40'07
	(d) Current tax liabilities (Net)	33-467'	1 36165''
	Total Current Liabilities (C)	30,048.64	1 5'°"'7°

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, i a ar, Taluka - Sausar, Dist. Chhindwara, MadhyaPradesh 480 10 _ ' Satnoor Plant ' ggfnjggfisg) 226376-79 . Fax : (07165) 226380 / 81 - E-mail :beplchw@bhansaliabs.com ' ' ' ' ' ' - - 307 026 . 33-143, Ambaji industrial Area. Abu Road, Dist. Sirohi (Rajasthan) Abu Road Plant I . :3 "((02:54) 226781/82/83/84 - Fax : (02974) 226737 - E-mall : bepLabr@bhansallabS-°°m

AZAD JAIN 85 CO. CHARTERED ACCOUNTANTS

Limited Review Report on quarterly Unaudited Standalone 'Financial Results of Bhansali Engineering Polymers Limited Pursuant to Regulation 33 of the SEBI (Listing Obligations 8: Disclosure Requirements) Regulations, 2015

To the Board of Directors of

Bhansali Engineering Polymers Limited

• 1. We have reviewed the accompanying statement of Unaudited Financial Results ("the statement") of M/thansali Engineering Polymers Limitedf"the Company") for the quarter and half year ended 30'h September , 2018 attached herewith, being submitted by company to the stock exchange viz. BSE and NSE pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), as modified by SEBI Circular No. ClR/CFD/FAC/62/2016datecl 5'h July, 2016.
• 1. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors in their meeting held on 19"'Oct0ber, 2018. Our responsibility-is to issue a Report on this Statements based on our review.
• 1. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of Entity "("the Standard"), issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

HO: E4603. LAKE FLORENCE, LAKE HOMES. OFF ADJ SANKARACHARYA MARG, POWAI. MUMBAI, (MAHARASHTRA)~ 400076.. MOB. 09414167046 401-402. (4TH FLOOR). SHREEJI CHAMBERS, 32 -A, PANCHWATI. UDAIPUR - 313 001 TEL. :0294 - 2428460. 2425529

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying, statement of Unaudited Standalone Financial Results, prepared in accordance with applicable Indian Accounting Standards ("Ind AS") prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by Circular No. ClR/CFD/FAC/62/2016dated 5'h July, 2016 including the manner in which it is to be disclosed or that it contains any material misstatement.

For Azad Jain 8: Co Chartered Accountants Fi Registrati n Numbéztfia'ttmyc [Q CA ishatherdia " Partner Membership Number: 400600 Place: Mumbai ,r_~ MEN

Date :19'"October , 2018

• 1 7 H0: E4603, LAKE FLORENCE, LAKE HOMES, OFF ADI SANKARACHARYA MARG, POWAJ, MUMBAI. (MAHARASHTRA) 400076. MOBl 09414 6 046 401-402, (4TH FLOOR), SHREEJI CHAMBERS, 32 -A, PANCHWATI, UDAIPUR - 313 001 TEL. 20294 - 2428460. 2425529

'4