BPL Ltd. — Interim / Quarterly Report 2021

Feb 11, 2021

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

11th February, 2021

The Manager - Listing,	The Manager - Listing,
Corporate Relationship Department	National Stock Exchange of India Ltd.,
Bombay Stock Exchange Ltd	Exchange Plaza, C-1, Block G,
Phiroze Jeejeebhoy Towers	Bandra Kurla Complex,
Dalal Street	Bandra (E)
Mumbai- 400001	Mumbai - 400 051
Scrip code - 500074	Trading Symbol - BPL

Dear Sir/Madam,

Sub: Outcome of the Board Meeting Q3-31st December 2020

Pursuant to Regulation 30 & 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, we wish to inform you that the Board of Directors of the company at their meeting commenced at 10.30 AM today and concluded at 12.45 PM has interalia approved the following: -

a) Un-audited financial results for the Third Quarter and Nine Months period ended 31st December 2020 of the company along with copy of the certificate of Statutory Auditors in respect of the Limited Review of the said results.

In this connection, we are pleased to enclose the following,

1. Unaudited Financial Results for the quarter and nine months ended December 31, 2020 along with the limited review report dated 11th February, 2021.

This is for your information and request you to please take the same on record.

Thanking you, Very truly yours, BPL LIMITED

Deepika Bhandiwad Company Secretary and Compliance officer Encl: $a/a$

BPL Limited Regd.Office: BPL Works, Palakkad - 678 007, Kerala. CIN - L28997KL1963PLC002015 E-mail: Investor@bpl.in, URL:www.bpl.in, Tel: No. +91 80 25589109

Statement of Standalone Unaudited Financial Results for the Quarter and Nine months ended 31st December, 2020

		Quarter Ended			Nine Months Ended		Year Ended
SI.nos
		31-12-2020(Unaudited)	30-09-2020	31-12-2019	31-12-2020	31-12-2019	31-03-2020
T	ParticularsREVENUE		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	Revenue from operations
II	Other Income (net)	1,035.00	1,057.20	2,882.78	2,885.09	7,589.68	9,456.28
Ш	Total Income (I+II)	32.65	45.87	34.69	93.88	274.92	244.13
		1,067.65	1,103.07	2,917.47	2,978.97	7,864.60	9,700.41
IV	EXPENSES
	Cost of material consumed	486.94	371.47	336.84	1,209.87	905.56	1,265.32
	Purchases of Stock-in-Trade	257.53	317.68	1,701.69	646.81	5,712.95	6,731.66
	Changes in inventories of finished goods, Stock-in-Trade and work-
	in-progress	25.83	40.01	521.76	209.38	162.56	419.18
	Employee benefits expense	161.74	148.53	230.83	478.23	628.36	902.03
	Finance costs	70.62	43.51	46.52	148.05	157.12	232.11
	Depreciation and amortization expense	41.89	43.04	10.29	127.15	34.59	77.14
	Other expenses	101.59	141.17	526.80	363.42	1,155.10	1,809.38
	Total Expenses	1,146.14	1,105.41	3,374.73	3,182.91	8,756.24	11,436.82
V	Profit/(loss) before exceptional items and tax (III-IV)	(78.49)	(2.33)	(457.26)	(203.94)	(891.64)	(1,736.41)
VI	Profit/(loss) before tax (V-VI)	(78.49)	(2.33)	(457.26)	(203.94)	(891.64)	(1,736.41)
VII	Tax Expense:
	(1) Current Tax
	(2) Deferred Tax						(2, 111.43)
VIII
	Profit (Loss) for the period from continuing operations (VII-VIII)	(78.49)	(2.33)	(457.26)	(203.94)	(891.64)	375.02
IX	Profit/(loss) for the period (IX+XII)	(78.49)	(2.33)	(457.26)	(203.94)	(891.64)	375.02
X	Other Comprehensive Income
	A (i) Items that will not be reclassified to profit or loss						23.86
	Total Comprehensive Income for the period (Comprising Profit
XI	(Loss) and Other Comprehensive Income for the period)	(78.49)	(2.33)	(457.26)	(203.94)	(891.64)	398.88
XII	Paid-up equity share capital: (Face value Rs.10 each)	4,888.48	4,888.48	4,888.48	4,888.48	4,888.48	4,888.48
	Earnings per equity share (for continuing operation):
	$(1)$ Basic	(0.16)	(0.00)	(0.94)	(0.42)	(1.82)	0.77
	(2) Diluted	(0.16)	(0.00)	(0.94)	(0.42)	(1.82)	0.77

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Notes:

• 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 11th February 2021.
• 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 audited quarterly / yearly 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 December 31st 2020 is Rs. 76.95 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. Based on the order of the single bench, the said unsecured claimant has obtained an execution order from the City Civil Court, Bangalore. The company has filed a writ in the High Court of Karnataka against this order. Further, by a Consent Order, dated 27th January, 2020, the Hon'ble High Court of Karnataka has directed that no precipitate steps are to be taken against the Company until the disposal of the Company's Appeal pending in the Delhi High Court. The Company is hopeful of getting a favorable order on merit; hence, no provision is made in the books of accounts for the claim.
• 1. Preference Shares issued by the company have become due as per the terms on which they were issued and have not yet been redeemed. Pursuant to the provisions of Section 55 of the Companies Act, 2013, Preference Shares can be redeemed only out of profits that are otherwise available for dividend. The Company has not yet earned profit that is to be distributed as dividend.
• 1. Company is yet to make contribution towards Gratuity Fund. Company is making necessary arrangements to fund the same in instalments, over a period of time.

• 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

Ajit G Nambiar (Chairman & Managing Director)

Place: Bangalore Date: February 11, 2021

MKUK & ASSOCIATES CHARTERED ACCOUNTANTS

Limited Review Report

To The Board of Directors. BPL Limited.

We have reviewed the accompanying unaudited financial results of BPL Limited (the 'Company") for the period ended December 31, 2020, 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 consistent with those used in the preparation of the Company's opening unaudited Balance Sheet as at April 1, 2016 prepared 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) 2400, "Engagements to review financial statements" 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 SEBI (Listing Obligations and Disclosure requirements) 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, except for impact (if any), of matters mentioned in note no's: $5,6,7$ & 9 of notes forming part of unaudited financial results.

For MKUK & ASSOCIATES Chartered Accountants $8.$ ASSO (FRN: 050113SX BENGALURI Mano Kumar UK Partner

Place: Bangalore Date: 11.02.2021

UDIN NO:21091730AAAAAF1668

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