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Bhansali Engineering Polymers Ltd. Interim / Quarterly Report 2023
62572_rns_2022-07-18_29f4e04c-6c27-40be-9a94-4fea66e24bb8.pdf
Interim / Quarterly Report
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bHANsAli ENGiNEERiNq polyMERs liMiTEd·
CIN: L27100MH1 984PLC032637
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/2022/ 107 18th July, 2022
| To, | To, |
|---|---|
| The BSE Limited | National Stock Exchange of India Limited |
| Corporate Relationship Department, | 1, Bandra-Kurla Complex,Exchange Plaza, C - |
| Phiroze Jeejeebhoy Towers, | Bandra (East), |
| 400 001Dalal Street, Mumbai - | Mumbai - 400 051 |
| Security Code : 500052 | Security Code: BEPL |
Sub: Outcome of Board Meeting - Monday, 18th July, 2022.
Dear Sir/ Madam,
Pursuant to Regulation 30, 33 and 42 read with Schedule III and other applicable Regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please be informed that the Board of Directors of the Company at its meeting held today had, inter alia:
-
- Approved the Un-Audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2022, after the Limited Review by the Statutory Auditors;
-
- Declared 151 Interim Dividend of Re.I / (100 %) per Equity Share (of the face value of Re.I each) for financial year 2022-23, subject to deduction of tax at source;
-
- Fixed, Thursday, 28th July, 2022 as the Record date for determining entitlement of shareholders to receive 1 st Interim Dividend for financial year 2022-23. The Interim Dividend will be paid on or before 14th August, 2022;
The meeting commenced at 11:30 a.m. and concluded at 1: 10 p.m.
We hereby enclose the following:
- a. Limited Review Report on Un-Audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2022, issued by the Statutory Auditor of the Company; and
- b. Copy of Un-Audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2022.
Request you to take the same on record.
Thanking you,
Yours faithfully, ~ r ~ha li Engineering Polymers Limited !". \ {-1:1>,
Ashwin M. 1 Patel \ , ] ·~ ~ Company Secretary!.'&\GM (Le gal)
Encl: as above
AZAD JAIN & CO. CHARTERED ACCOUNTANTS
INDEPENDENT AUDITOR'S REVIEW REPORT ON THE QUARTERLY UNAUDITED STANDALONE FINANCIAL RESULTS OF THE COMPANY PURSUANT TO REGULATION 33 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULA TIONS,2015
Review Report to The Board of Directors, Bhansali Engineering Polymers Limited, Mumbai.
-
- We have reviewed the accompanying Statement of Unaudited Standalone Financial Result of Bhansali Engineering Polymers Limited("the Company" ) for the quarterended 301 h June, 2022("the Statement"), being submitted by Company to the Stock Exchange viz. BSE Limited ("BSE") and The National Stock Exchange of India Limited ("NSE")pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
- Regulations, 2015, as amended ("the Regulation"), read with SEBI Circular No. CIR/CFD/CMD1/44/2019dated 29111 March, 2019 ("the Circular").
-
- The preparation of the statementin accordance with the recognition and measurement principles laid down in Indian Accounting Standards 34, "Interim Financial Reporting", (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the Circular is the responsibility of the Company's management and has been approved by the Board of Directors of the Company.Our responsibility is to express a conclusion on the Statement based on our review.
-
- 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 Statementis free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
HO: E-1603, LAKE FLORENCE, LAKE HOMES, OFF ADI SHANKARACHARYAMARG, POWAi, MUMBAI, (MAHARASHTRA)- 400076, MOB. 09414167046 4Ci1-402. (4TH FLOOR). SHREEJI CHAMBERS, 32 -A, PANCHWATI, UDAIPUR • 313 001 TEL :0294 • 2428460, 2425529
- Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement,prepared in accordance with the 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 the Regulation,read with the circular, including the manner in which it is to be disclosed or that it contains any material misstatement.
For Azad Jain & Co Chartered Accountants R "strati,f .N~ : 006251C - - ·
~ ~ ( 'Q Rishabh Verdi a .., /( u'"°''f>f>-\ )'!)
Membership No.: 400600 \ft\ ,· ~~/
Place: Mumbai Date :l81hJuly, 2022
bHANsAli ENGiNEERiNG 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
| STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH JUNE,2022 UNDER IND AS | ||||||||
|---|---|---|---|---|---|---|---|---|
| (~ in lakhs) (Exc ept Earning per share) | ||||||||
| STANDALONE | ||||||||
| PARTICULARS | Quarter ended | Year ended | ||||||
| 30/06/2022 | 31/03/2022 | 30/06/2021 | 31/03/2022 | |||||
| INCOME | Unaudited | Audited | Unaudited | Audited | ||||
| I | Gross Revenue including GST | 39,810.02 | 51 ,940.83 | 27,365.37 | 163,834.66 | |||
| II | Less:GST Recovered | 6,069.08 | 7,373.44 | 4, 174.07 | 24,439.66 | |||
| Ill | Revenue from operations (Net of GST) (1-11) | 33 740.94 | 44,567.39 | 23 191.30 | 139 395.00 | |||
| IV Other Income | 683.59 | 447.15 | 488.69 | 1,901 .91 | ||||
| v | Total Income (lll+IVI | 34,424.53 | 45,014.54 | 23 679.99 | 141,296.91 | |||
| VI EXPENSES | ||||||||
| (a) Cost of materials Consumed | 22,971 .75 | 23,569.81 | 14,715.11 | 68627.75 | ||||
| (b) Purchase of stock-in-trade(c) Changes in inventories of finished goods, | 569.74(521 .01) | 7,350.47(1,096.73) | 220.16(6,434.07) | 9520.76(3,288.83) | ||||
| work-in-progress and stock-in-trade | ||||||||
| (d) Employee benefits expense | 1,424.39 | 1571.05 | 1680.55 | 7259.52 | ||||
| (e) Finance Costs | 9.08 | 4.47 | 5.20 | 16.75 | ||||
| (f) Depreciation & amortisation expenses | 245.25 | 246.04 | 249.24 | 996.33 | ||||
| la\ Other expenses | 3,265.92 | 3069.57 | 2924.92 | 10955.99 | ||||
| TOTAL EXPENSES la to al | 27 965.12 | 34,714.68 | 13,361.11 | 94,088.27 | ||||
| VII Profit /{l oss) before exceptional and extraordinary items | 6,459.41 | 10,299.86 | 10,31 8.88 | 47,208.64 | ||||
| and tax IV - VilVIII Exceptional Items | - | - | ||||||
| IX Profit /(Loss) before extraordinary Items and tax (VII- VIII) | 6,459.41 | 10,299.86 | 10,318.88 | 47,208.64 | ||||
| x Extraordinarv items | - | - | - | - | ||||
| Profit I (Loss) before share of net profit/(loss) of investment | 6,459.41 | 10,299.86 | 10,318.88 | 47,208.64 | ||||
| XI accounted for using equity method and tax (IX -X) | ||||||||
| Share of net profit/(loss) from Joint venture accounted for using | - | |||||||
| XII the eauitv methodXIII Profit I {LOSS) before tax IXl+Xlll | 6 459.41 | 10 299.86 | 10 318.88 | 47,208.64 | ||||
| XIV Tax Expenses | ||||||||
| (i) Current tax | 1,709.50 | 2,938.53 | 2,597.26 | 12,221 .74 | ||||
| (iii Deferred tax | 12.77) | 49.68 | 9.84 | 41 56 | ||||
| xv Profit I (Loss) for the period ( XIII- XIV l | 4,752.68 | 7,311 .65 | 7,711.78 | 34,945.34 | ||||
| XVI Other Comprehensive Income I (loss) (net of tax)1 ota1 1,.;omprenens1ve income / (Loss) rortne penoa (.I\ v | 23.63 | (23.23) | 34.17 | (13.31) | ||||
| XVII | +XVI ) | 4,776.31 | 7,288.42 | 7,745.95 | 34,932.03 | |||
| XVIII Paid Up Equity Share Capital | 1,659.06 | 1,659.06 | 1,659.06 | 1,659.06 | ||||
| XIX Earnings per share (ofeach) (not annualised) | ||||||||
| (i) Basicliil Diluted | 2.862.86 | 4.414.41 | 4.654.65 | 21.0621.06 | ||||
| Notes: | ||||||||
| 1 | The Unaudited Standalone Financial Results have been prepared in accordance with the recognition and measurement principles provided | |||||||
| in Indian Accounting Standards (lndAS 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 2015, [SEBI | ||||||||
| 2 | {LODR) Regulations, 2015] as amended.The above results have been reviewed and recommended by the A udit Committee and approved by the Board of Directors in their meeting | |||||||
| held on 18th July,2022.The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results in terms of | ||||||||
| Regulation 33 of SEBI (listing Obligations and Disclosure Requirements) Regulations, 201 5. | ||||||||
| 3 | In accordance with Regulation 33 of the SEBI (LODR) Regulations, 201 5, the above Unaudited Standalone Financial Results of the | |||||||
| Company are posted on Company's website (www.bhansaliabs.com) and on the website of BSE Limited (www.bseindia.com) and the | ||||||||
| National Stock Exchange of India Limited (www.nseindia.com), where the Company's shares are listed. | ||||||||
| 4 | The figures for the quarter ended 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 financial year. | ||||||||
| 56 | The Company operates in a single segment namely ' Highly Specialized Engineering Thermoplastics" .The Board of Directors at its meeting held on 18th July,2022, has declared 1st Interim Dividend of 100% (viz Re 1 /- per share having face | |||||||
| value of Re.1 /- each. | ||||||||
| 7 | Figures for the previous Period/ Year have been re-grouped/ reworked/ re-arranged he~ | r necessary,)6 make them comparable. | ||||||
| /(neering Polymers Limitedrnsali"En-. | ||||||||
| ,, | ||||||||
| ·~'"°"B.haaliI 4 | ||||||||
| ,"~Direc orPlace : MumbaiMana,. | ||||||||
| Dated : 18th July, 2022 | DIN:00102930 | |||||||
Satnoor Plant : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. Tel. : (071 65) 226376/77/78/79 • E-mail: [email protected] Abu Road Plant : Plot No. SP-1 38-1 43, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026.
Tel. : (02974) 226781 /82/83/84 •E-mail : [email protected]
AZAD JAIN & CO, CHARTERED ACCOUNTANTS
INDEPENDENT AUDITOR'S REVIEW REPORT ON THE QUARTERLY UNAUDITED CONSOUDATED FINANCIAL RESULTS OF THE COMPANY PURSUANT TO THE REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
Review Report to The Board of Directors, Bhansali Engineering Polymers Limited, Mumbai.
-
- We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of BHANSALI ENGINEERING POLYMERS LIMITED ('the Company'), comprising its joint venture together, ('the Group') for the quarter ended 301h June,2022 (' the Statement'), attached here with, being submitted by the Company pursuant to the requi.rement of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended ('the Regulation') read with SEBI Circular No.CIR/CFD/CMDl/44/2019 dated 291 1t March, 2019 ("the Circular").
-
- This statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors in their meeting held onl81 h July, 2022 has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standards 34, "Interim Financial Reporting", (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant Rules issued thereunder and other accounting principles generally accepted in India, read with the Circular. Our responsibility is to express a conclusion on the Statement based on our review.
-
- We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410,
"RfWiew of interim Financial Information Performed by tile 111depe11de11t Auditor of Entity "("tile Standard"), issu,ed by the Institute of Chartered Accounhrnts of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, nnd applying nnalyticnl and other review procedures. A review is substantially less in scope than nn audit conducted in accordance with Standnrds on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
. HANt<ARACHARYA MARG. POWAi. MUMBAI. (MAHARASHTRA)-<400076, MOB. 094141tl7046 HO· E-1603 LAKE FLORENCE, LAKE HOMES. OFF ADI S . • S 32 ·A PANCHWATI, UDAIPUR - 313 001 TEL. :0294 - 2428460, 2425529 .ur1 • .tn? t.4TH FLOOR. SHREEJI CHAMBER • •
We also performed procedures in accordance with the Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. to the extent applicable.
-
- The Statement includes the results of the following entities: Bhansali Nippon A& L Private Limited Goint venture Entity).
-
- The Statement indudes the interim financial results and other financial information of 1 joint venture entity whose interim financial results/information reflects Group's share of total assets of Rs.255.721akhsand total net Profit after tax of Rs. 21.10 lakhsfor the three months ended 301 " June, 2022. These financial statements and other financial information have been reviewed by other auditor, whose 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 conclusion is not modified in respect of this matter.
~· :>1·
For Azad Jain & Co
C1rartered Accountants
l2" (},Rtrlii°(}W):r. 006251: .
· rr ~\ h~~ d/ . • • , . b h Mem . N b 400600 °"-' ··- · <..'"~! ers 1p um er: '.:- "T11 c- .. / , ....
Place: Mumbai
Date:lS'hJuly, 2022
UDIN No: 2.2. L{ i) 0 b () 0 ~ N C.. l3 9 t0 3 I I "7
y[§2]® 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 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH JUNE,2022 UNDER IND AS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| (f.in lakhs) (Except Earning per share) | |||||||||
| CONSOLIDATED | |||||||||
| PART I CU L ARS | Quarter ended | Year ended | |||||||
| 30/06/2022 | 31/03/2022 | 30/06/2021 | 31/03/2022 | ||||||
| Unaudited | Audited | Unaud ited | Audited | ||||||
| INCOME | |||||||||
| I | Gross Revenue including GST | 39,810.02 | 51,940.83 | 27,365.37 | 163,834.66 | ||||
| II | Less:GST Recovered | 6,069.08 | 7,373.44 | 4, 174.07 | 24,439.66 | ||||
| Ill | Revenue from operations (Net of GST) (1-11) | 33,740.94 | 44,567.39 | 23, 191 .30 | 139,395.00 | ||||
| IV Other Income | 683.59 | 447.15 | 488.69 | 1,901 .91 | |||||
| v Total Income (lll+IV) | 34,424.53 | 45,014.54 | 23 679.99 | 141 ,296.91 | |||||
| VI | EXPENSES | ||||||||
| (a) Cost of materials Consumed | 22,971 .75 | 23,569.81 | 14,715.11 | 68,627.75 | |||||
| (b) Purchase of stock-in-trade | 569.74 | 7,350.47 | 220.16 | 9.520.76 | |||||
| (c) Changes in inventories of finished goods, | (521.01) | (1,096.73) | (6,434.07) | (3.288 83) | |||||
| work-in-progress and stock-in-trade | |||||||||
| (d) Employee benefits expense | 1,424.39 | 1,571.05 | 1,680.55 | 7259.52 | |||||
| (e) Finance Costs | 9.08 | 4.47 | 5.20 | 16.75 | |||||
| (f) Depreciation & amortisation expenses | 245.25 | 246.04 | 249.24 | 996.33 | |||||
| (Cl) Other expenses | 3.265.92 | 3,069.57 | 2.924.92 | 10,955.99 | |||||
| TOTAL EXPENSES (a to g) | 27 965.12 | 34,714.68 | 13,361.1 1 | 94,088.27 | |||||
| VII Profit I (Loss) before exceptional and extraordinary Items | 6,459.41 | 10,299.86 | 10,318.88 | 47,208.64 | |||||
| and tax IV • VII | |||||||||
| VIII Exceptional Items | - | - | |||||||
| IX | Profit I (l oss) before extraordinary items and t ax (VII- VIII) | 6,459.41 | 10,299.86 | 10,318.88 | |||||
| 47,208.64 | |||||||||
| x Extraordinary items | - | ||||||||
| Profit I (l oss)before share of net profit/(loss) of investm ent | |||||||||
| accounted for using equity method and tax (IX -X) | 6,459.41 | 10,299.86 | 10,318.88 | 47,208.64 | |||||
| XI | |||||||||
| Share of net profiU(loss) from Joint venture accounted for using | |||||||||
| XII the eauitv method | 21 .10 | 15.81 | 26.62 | 58.39 | |||||
| XIII Profit I !Loss) before tax IXl+Xlll | 6,480.51 | 10,31 5.67 | 10,345.49 | 47,267.03 | |||||
| XIV Tax Expenses | |||||||||
| (i) Current tax | 1,709.50 | 2,938.53 | 2,597.26 | 12221.74 | |||||
| Iii\ Deferred tax | (2.77) | 49.68 | 9.84 | 41 .56 | |||||
| xv Profit I (l oss) for the period ( XIII- XIV l | 4,773.78 | 7,327.46 | 7,738.39 | 35,003.73 | |||||
| XVI Other Comprehensive Income I (loss) (net of tax) | 23.63 | 123.231 | 34.17 | 113.311 | |||||
| ve mcome 1 {LOSS} ror m e perioa {I'\ v1 ota1 ~ompen | |||||||||
| XVII | +XVI ) | 4,797.41 | 7,304.23 | 7,772.56 | 34,990.42 | ||||
| XVIII Paid Up Equity Share Capital | 1,659.06 | 1,659.06 | 1,659.06 | 1,659.06 | |||||
| XIX Earnings per share (of .1/ each) (not annualised) | |||||||||
| (i) Basic | 2.88 | 4.42 | 4.66 | 21.10 | |||||
| (ii) Diluted | 2.88 | 4.42 | 4.66 | 21.10 | |||||
| Notes : | |||||||||
| 1 | The Unaudited Consolidated Financial Results have been prepared in accordance with the recognition and measurement principles provided in | ||||||||
| Indian Accounting Standards (lndAS 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 2015, [SEBI (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 18th July,2022. The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results in terms of Regulation 33 of | |||||||||
| SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. | |||||||||
| 3 | In accordance with Regulation 33 or 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.bseindia.com) and the National Stock | |||||||||
| Exchange of India Limited (www.nseindia.com), where the Company's shares are listed. | |||||||||
| 4 | The figures for the quarter ended 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 financial year. | |||||||||
| 5 | The Company operates in a single segment namely "Highly Specialized Engineering Thermoplastics" . | ||||||||
| 6 | The Board of Directors at its meeting held on 18th July,2022, has declared 1st Interim Dividend of 100% (viz Re 1 /- per share having face value | ||||||||
| of Re.1/- each). | |||||||||
| Figures for the previous Period/ Year have been re-grouped/ reworked/ re-arranged wherever necessary, to make them comparable. | |||||||||
| 7 | |||||||||
| ~rio | 'ffi u m;tod | ||||||||
| !t.!' ojy | |||||||||
| er>ans i~ ~ | |||||||||
| ·~~~Place : Mumbai~ng Director | |||||||||
| Dated : 18th July, 2022 | DIN :00102930 | "- qil ~'t~ | |||||||
| - | |||||||||
| 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-138-1 43, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026. Tel. : (02974) 226781 /82/83/84 • E-mail : [email protected]