BPL Ltd. — Interim / Quarterly Report 2019

Nov 13, 2019

BPL Limited

Dynamic House, 64 Church Street Post Box No. 5194 Bengaluru - 560 001, India. Ph: +91-80-2532 7985, 2558 9109 E-mail : investor@bpl.in / Website : www.bpl.in CIN: L28997KL1963PLC002015

13th November, 2019

The Manager - Listing, Corporate Relationship Department Bombay Stock Exchange Limited 25th Floor, Phiroze Jeejebhoy Towers Dalal Street, Mumbai - 400 001

The Manager - Listing, National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No.C/1; G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051

Sub: Outcome of the Board Meeting held on 13th November, 2019

In Compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the following:

(i) Unaudited Standalone Financial Results for the second quarter and half-year ended on 30th September, 2019.

(ii) A copy of the Limited Review Report on the aforesaid results issued by M/s. MKUK & Associates, Statutory Auditors of the Company.

(iii) Appointment of Miss Dolly Lohia, an Associate Member of The Institute of Company Secretaries of India, as a Company Secretary and Compliance Officer of the company, with effect from September 18, 2019.

The said Unaudited Financial Results was recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held today. The Limited review Report was also adopted by the Board at the said meeting.

The meeting commenced at $12.45$ pm and concluded at $5.30$ P.M.

We request you to kindly arrange to take the above on records of the Exchange and acknowledge receipt thereof.

Thanking you, Very truly yours,

BPL Limited

Aiit G-Nambiar Chairman & Managing Director

Encl: a/a

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BPL Limited Regd.Office: BPL Works, Palakkad - 678 007, Kerala. CIN - 128997KL1963PLC002015 E-mail: Investor@bpl.in, URL:www.bpl.in, Tel: No. +91 80 25589109 Statement of Standalone Unaudited Financial Results for the Quarter and Six Months Ended 30th September, 2019

							(Rs. In Lakhs)
		Quarter Ended			Six Months Ended		Year Ended
SI.
nos	Particulars	30-09-2019(Unaudited)	30-06-2019(Unaudited)	30-09-2018	30-09-2019	30-09-2018	31-03-2019
$\mathbf{I}$	REVENUE			(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	Revenue from operations	3,202.60	1,504.30	5,451.88
П	Other Income (net)	177 70	62.53	161.54	4,706.90240.23	7,562.05189.78	14,027.86294.06
m	Total Income (I+II)	3,380.30	1,566.83	5,613.42	4,947.13	7,751.83	14,321.93
IV	EXPENSES
	Cost of material consumed	249.03	319.69	443.72	568.72	814.60	1,802.74
	Purchases of Stock-in-Trade	2,766.87	1,244.39	4,718.02	4,011.26	5,670.66	9,575.13
	Changes in inventories of finished goods, Stock-in -Trade and work-
	in-progress	48.47	(407.67)	(417.92)	(359.20)	(71.89)	188.00
	Employee benefits expense	198.90	198.63	187.01	397.53	385.15	858.03
	Finance costs	56.24	54.36	52,41	110.60	85.19	183.25
	Depreciation and amortization expense	12.73	11.57	11.32	24.30	22.39	44.16
	Other expensesTotal Expenses	408.47	219.83	342.90	628.30	538.09	1,300.31
		3,740.70	1,640.80	5,337.46	5,381.50	7,444.19	13,951.61
Ą.	Profit/(loss) before exceptional items and tax (III-IV)	(360.41)	(73.96)	275,96	(434.38)	307.63	370.31
٧I	Profit/(loss) before tax (V-VI)	(360.41)	(73.96)	275.96	(434.38)	307.63	370,31
VII	Tax Expense:
	(1) Current Tax			1.48
	(2) Deferred Tax						277.10
VIII	Profit (Loss) for the period from continuing operations (VII-VIII)	(360.41)	(73.96)	274.48	(434.38)	307.63	93.21
IX.	Profit/(loss) for the period (IX+XII)	(360.41)	(73.96)	274.48	(434.38)	307.63	93.21
x	Other Comprehensive IncomeA $(i)$ Items that will not be reclassified to profit or loss			$\ddot{\phantom{1}}$
	(ii) Income tax relating to items that will not be reclassified to profitor loss
	Total Comprehensive Income for the period (XIII+XIV) (Comprising
ΧĶ	rofit (Loss) and Other Comprehensive Income for the period)	(360.41)	(73.96)	274.48	(434.38)	307.63	93.21
XII	Paid-up equity share capital: (Face value Rs.10 each)Earnings per equity share (for continuing operation):	4,888 48	4,888.48	4,888.48	4,888.48	4,888.48	4,888.48
	(1) Basic(2) Diluted	(0.74)(0.74)	(0.15)(0.15)	0.560.56	(0.89)(0.89)	0.630.63	0.190.19

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BPL Limited CIN - L28997KL1963PLC002015 Balance Sheet as at

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Particulars30 Sep 2019Note No.$1$ ASSETSNon Current Assets(a) Property, Plant and Equipment32,429.37(b) Other Intangible assets3,14.20(c) Financial Assets	31 Mar 20191,196.804.505,586.9410,948.70
(i) Investment Property
(ii) Investments5,586.944
(iii) Other receivables510,679.68
(d) Deferred tax assets (net)62,817.98	2,817.98
(j) Other non-current assets$\overline{7}$205.40	205.00
2 Current assets
(a) Inventories81,359.21	1,389.76
(b) Financial Assets
(i) Investments
(ii) Trade receivables91,868.19	1,942.84
(iii) Cash and Cash equivalents10.10.12	0.20
(iv) Other Bank Balances10.2174.42	384.51
(v) Other financial assets$11,$10,701.20	11,130.01
(c) Current Tax Assets (Net)121,070.83	814.82
(d) Other current assets331.9113	304.18
Total Assets37,229.44	36,726.26
EQUITY AND LIABILITIES
EQUITY
(a)Share capital144,888.58	4,888.58
(b) Other Equity1511,255.54	11,689.92
LIABILITIES
1 Non-current liabilities
$(a)$ Financial Liabilities
(i) Borrowings16273.79
(b) Provisions17175.63	176.86
(d) Other non-current liabilities18
2 Current liabilities
$(a)$ Financial Liabilities
(i) Borrowings19991.40	930.75
(ii) Trade payables202,186.27	1,562.69
(iii) Other financial liabilities2172.36	67.00
(b) Other current liabilites2217,317.90	17,326.08
(c) Provisions67.9723	84.37
Total Equity and Liabilities37,229.44	36,726.26

Notes:

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• 1. The above results have been reviewed by the Audit Committee and approved and taken on record by the Board of Directors at their respective meetings held on 13th November 2019.
• 1. The Financial results for all the periods presented above have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time.
• 1. The format for unaudited quarterly results as prescribed in SEBI's Circular CIR/CFD/CMD/15/2015 dated 30 November 2015 has been modified to comply with requirements of SEBI's circular dated 5th July 2016, Ind AS and Schedule III (Division II) to the Companies Act, 2013, applicable to companies that are required to comply with Ind AS.
• 1. The estimated amount of contingent liabilities as on June $30th$ 2019 is Rs. 76.13 Crores.
• 1. An unsecured claimant had obtained an order against the Company from single Bench of the Honorable High Court of Delhi, confirming the order of a Sole Arbitrator. The Company has filed appeal against the said order with the Division Bench of Honorable High Court of Delhi. The Company is hopeful of getting a favourable order on merit, hence, no provision is made in the books of accounts for the claim.
• 1. The company is engaged in manufacturing & trading of consumer electronic goods, and therefore, has only one reportable segment in accordance with Ind AS 108 "operating segments".
• 1. Provision for Deferred Taxation as per Ind AS-12 "Income Tax" provision for current Tax and employee benefits as per Ind AS 19 "Employee Benefits" will be made at the end of the year.
• 1. Previous period figures have been regrouped /reclassified to conform to current period's presentations.

For and behalf of the Board of BPL Limited

Nambiar (Chairman & Managing Director)

Place: Bangalore Date: November 13, 2019

MKUK & ASSOCIATES CHARTERED ACCOUNTANTS Limited Review Report

To the Board of Directors. BPL Limited.

3

We have reviewed the unaudited financial results of BPL Limited (the 'Company") for the quarter and six months ended September 30, 2019 which are included in the accompanying 'Statement of Unaudited Financial Results for Quarter and six months ended September 30, 2019' together with the relevant notes thereon (the 'Statement'). The Statement has been prepared by the Company pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations, 2015') read with SEBI circular dated July 5, 2016.

The Statement is the responsibility of the Company's management and has been approved by the Board of Directors. Further, the Management is also responsible to ensure that the accounting policies used in preparation of this Statement are consistantantly adopted and are in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies. Our responsibility is to issue a report on the Statement based on our review.

We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is 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.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with Ind AS and other recognized accounting practices and policies, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 read with SEBI circular dated July 5, 2016 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For MKUK & ASSOCIATES Chartered Accountants $(FR)$ : 0501138) BANGALORE Anto Joseph (20398) Proprietor UDIN: 19203958AAAACQ9407

Place: Bangalore Date: 12.11.2019

3155/A, 2nd Floor, 11th Main, 2nd Stage, Indiranagar, Bengaluru - 560038 +9180 25251861