AI assistant
BSL Ltd. Interim / Quarterly Report 2023
61765_rns_2022-11-10_89caaa16-7529-463c-a6db-8e179cf73d85.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
BSL Ltd.
REGO. OFFICE : 26,lndustrial Area, Gandhi Nagar, BHILWARA-311 001 (Rajasthan) INDIA Tel.: (91 1482) 249101-102, 245000 E-mail: [email protected], Website: www.bslltd.com C.I.N.: L24302RJl970PLC002266
REF: BSL/CS/2022-23/ Dated: 10th November, 2022
| National Stock Exchange of India Ltd | BSE Ltd |
|---|---|
| Listing Department | artment of Corporate ServicesDer, |
| Exchange Plaza | 2511 Floor, Phiroze Jeejeebhoy Towers |
| Bandra Kurla Complex | Dalal Street |
| Bandra (E) | Kala Ghoda, Fo1t, |
| Mumbai- 400 051 | Mumbai, Maharashtra 400 00 I |
| NSE Symbol: BSL | BSE Scrip Code: 514045 |
Subject: Outcome of Board Meeting held on 10th November, 2022
Submission of un-audited financial results for the quarter and half year ended 301hSeptember, 2022 in pursuant to Regulation 30 & 33 of the SEBI (LODR) Regulations, 2015
Dear Sir/Ma'am,
Pursuant to Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Board of Directors of the Company, at its Meeting held today, i.e .. Thursday, I 01 " November, 2022, inter alia, has approved and taken on record the following:
I. The Un-audited Financial Results of the Company for the qua1ter and half year ended 30111 September, 2022 and Statement of Assets and Liabilities and Cash Flow as at 301 " September, 2022 along with the Limited Review Report issued by the Statutory Auditors' thereon.
A Copy of the above referred Financial Results along with the Limited Review Report is attached herewith as Annexure-A.
-
- Resignation of Ms. Aanchal Patni (Membership No. ACS 43 134 ), as the Company Secretary & Compliance officer of the Company, w.e.f. I I 1 " November, 2022.
-
- Appointment of Mr. Shubham Jain, (Membership No. ACS 49973), as the Company Secretary & Compliance officer of the Company in place of Ms. Aanchal Patni, w.e.f. 12111ovember, 2022.
The requisite details in terms of SEBI Regulations are attached as Annexure-B.
Further, in.accordance with the Securities and Exchange Board of India (prohibition of Insider Trading) Regulatio�s, 2015 and Company's Code of conduct for Prohibition of Insider Trading, the "Trading Window" for trading in the shares of the Company will open from 13111November. 2022 for the Directors and Key Managerial Personnel, Designated Employees, Connected Persons of the Company and their immediate relatives.
The md:tingofthe Board of Directors commenced at 12.00 Noon and concluded at 2.00 P.M. Kindly take the same on records.
Thanking you, Yours Faithfully For BSL Limited
Aanchal Patni Digitally signed by Aanchal Patni Date: 2022.11.10 14:03:08 +05'30'
Aanchal Patni Company Secretary M. No.: ACS-43134
Annexure-A
SSMS & Associates CHARTERED ACCOUNTANTS
16, BASEMENT HEERA PANNA MARKET PUR ROAD, BHILWARA- 311001 E-mail : [email protected]
Independent Auditor's Review Report on Unaudited Quarter and Half Year ended 30th September,2022, Financial Results of the Company pursuant to the regulation 33 of SBBI ([,isting Obligations and Disclosure Requirements) Regulations, 2015, as amended
| 'l'o, | |||
|---|---|---|---|
| 'l'he Board of Directors, | |||
| BSI, I.TD. |
We have reviewed the accompanying statement of unaudited financial results of BSI- LT[). ("the Company") for the quarter and half year ended 30th September 2022, statement of assets and tiabilities as at 30th September 2022 and statement of cash flows for the period ended 30'r' September 2022 attached herewith, being submitted by the company pursuant to the rcquirements o1' Regulalion 33 of SEBI (Listing Obligations and Disclosure Requirenrents) Regulation, 2015 ('the regulation') as amended, read with SEBI Circular No. CIIRiCFD/CMDI/80/2019 dated l9th July 2019 ('the Circular') and amendment thereto.
'I'his statement, which is the responsibility of the company's Management and approved by the C'ompany's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "lnterim Finarrcial Rcporting" ("lnd AS 34"), prescribed under Section 133 of the Companies Act,20l3. and rulcs thereuncler. requirements of Regulation 33 of the SEBI (l,isting Obligations and Disclosurc Requircments) Regulations,20l5, and other accounting principles generally acceptec{ in lnclia, Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Reviur, l:rrgagernents (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the E,ntity", issued by the Institute of Chartered Accountants of India. 'l-his starrdard requires that rve plan and perforln the review to obtain moderate assurance as to rvhetherthe flrrancial statements are fiee of material misstatement. A review is limited prinrarilv 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.
l]ased on our review conducted as above, nothing' has come to our attention that causes us to bclieve that the accompanying statement of unaudited financial results prepared in accordance rvith the recognition and measurement principles laid down in the aforesaid Indian Acc<tunting Standard (lnd-AS) prescribed under section 133 of the Companies Act,20l3 read with rclcr,'arrt rules issued thereunder and other accounting principles generally accepted in India, has trot disclosed the information required to be disclosed in terms of Regulation, read with the CircLrlar. including the manner in which it is to be disclosed, or that it contains any material misstatement.
Place: Bliilwara Date: l0'l' Novembe r,2022
For SSMS and Associates Chartered Accountants Firm Reg. No, 0l 9351C
(Satish Somani) Partner M. No. 076241 UDIN : ?29_732;v]' Bc I C OL 38 t6
BSL LIMITED
CIN: L24302RJ1970PLC002266, Website: www.bslltd.com Regd. Office: 26, Industrial Area, Gandhi Nagar, Bhilwara (Raj.) 311 001 Tel.: (91-1482)245000, Email: [email protected]
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2022
| (₹ In Lac) | |||||||
|---|---|---|---|---|---|---|---|
| No. | Sr. Particulars | Quarter Ended | Half Year Ended | ||||
| 30.09.2022 | 30 06 2022 | 30 09 2021 | 30.09.2022 | 30 09 2021 | 31032022 | ||
| Unaudited | Audited | ||||||
| $\mathbf{1}$ | Revenue from operations | 13272.24 | 11232.43 | 11638.78 | 24504.67 | 20279.60 | 43583.57 |
| $\overline{2}$ | Other Income | 19.39 | 35.62 | 11.30 | 55.01 | 110.40 | 151.39 |
| $\mathbf 3$ | Total Income (1+2) | 13291.63 | 11268.05 | 11650.08 | 24559.68 | 20390.00 | 43734.96 |
| 4 | Expenses | ||||||
| a) Cost of Material Consumed | 6042.63 | 6537.54 | 4754.16 | 12580.17 | 9276.23 | 20793.49 | |
| b) Purchase of stock-in-trade | 461.17 | 341.18 | 265.42 | 802.35 | 511.19 | 1661.13 | |
| c) Changes in inventories of finished goods, work-in-progress and stock-in-trade | 248.58 | (1502.85) | 906.81 | (1254.27) | (206.00) | (128617) | |
| e) Employees benefits expense | 1938.22 | 1863.76 | 1707.19 | 3801.98 | 3374.94 | 6853.90 | |
| f) Finance Cost | 409,74 | 436.00 | 313.08 | 845.74 | 606.07 | 1392.80 | |
| g) Depreciation and amortisation expense | 274.84 | 286.01 | 292.21 | 560.85 | 583.46 | 1151.70 | |
| h) Power, Fuel & Water | 1271.29 | 1253.91 | 1085.04 | 2525.20 | 2053.82 | 4548.97 | |
| i) Other expenses | 1990.04 | 1708.97 | 1797.75 | 3699.01 | 3321.93 | 7020.73 | |
| Total Expenses | 12636.51 | 10924.52 | 11121.66 | 23561.03 | 19521.64 | 42136.55 | |
| 5 | Profit/ (Loss) before Exceptional Items and Tax (3-4) | 655.12 | 343.53 | 528.42 | 998.65 | 868.36 | 1598 41 |
| 6 | Exceptional Items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 7 | Profit/ (Loss) before Tax (5-6) | 655.12 | 343.53 | 528.42 | 998.65 | 868.36 | 1598.41 |
| 8 | Tax Expenses | ||||||
| a) Current Tax | 119.74 | 56.26 | 154.43 | 176.00 | 256.78 | 488.11 | |
| b) Deferred Tax | 28.48 | 13.20 | (14.03) | 41.68 | (29.77) | (37.58) | |
| Total Tax Expenses | 148.22 | 69.46 | 140.40 | 217.68 | 227.01 | 450.53 | |
| $\boldsymbol{9}$ | Profit/(Loss) for the period (7-8) | 506.90 | 274.07 | 388.02 | 780.97 | 641.35 | 1147.88 |
| 10 | Other Comprehensive Income | ||||||
| (A) (i) Items that will not be reclassified to profit or loss | (18.41) | (18.42) | (12.20) | (36.83) | (24.39) | (73.66) | |
| (ii) Income Tax relating to the items that will not be reclassified to profit or loss | (4.64) | (4.64) | (3.08) | (9.28) | (6.14) | (18.54) | |
| (B) (i) Items that will be reclassified to profit or loss | 68.88 | (76.49) | 19.00 | (7.61) | (26.86) | 10.03 | |
| (ii) Income Tax relating to the items that will be reclassified to profit or loss | 17.34 | (19.25) | 2.64 | (1.91) | (8.90) | 0.39 | |
| Total Other Comprehensive Income | 37.77 | (71.02) | 7.24 | (33.25) | (36.21) | (45.48) | |
| 11 | Total Comprehensive Income (9+10) | 544.67 | 203.05 | 395.26 | 747.72 | 605.14 | 1102.40 |
| $12$ | Paid-Up Equity Share Capital | 1029.22 | 1029.22 | 1029.22 | 1029.22 | 1029.22 | 1029.22 |
| 13 | Reserves (Excluding Revaluation Reserves) | 7901.02 | |||||
| 14 | Earning per Shares (Before & After Extra ordinary Items) (of ₹ 10/- each) (not annualised) | ||||||
| a) Basic EPS $(\bar{z})$ | 4.93 | 2.66 | 3.77 | 7.59 | 6.23 | 11.15 | |
| b) Diluted EPS $(3)$ | 4.93 | 2.66 | 377 | 759 | 623 | 1115 |
Notes:-
-
The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards) Amendment Rules, 2016 prescribed under section 133 of the Companies Act, 2013, and other recognized accounting practices and policies to the extent applicable.
-
The above financial results were reviewed by the Audit Committee and thereafter were taken on record by the Board of Directors at their meeting held on 10th November, 2022. The Statutory Auditors have carried out limite
-
The Company's capex plan of installation of 29184 Spindles and modernization of synthetic spinning, Weaving & Processing division are going as per schedule.
-
The requirement of "Segment Reporting" is not applicable to the Company as it is engaged in single business segment.
-
The figures of the previous year / quarter have been regrouped/ recast wherever necessary.
Place: Kolkata (W.B.) Date: 10th November, 2022
WAR R.N.
$LI$ $61$ Limi KUN CHURCHIA CHAIRMAN DIN : 00001718
BSLLIMITED
CIN: L24302RJI 970PLC002266, Website: www.bslltd.com Regd. Office: 26, Industrial Area, Gandhi Nagar, Bhilwara (Raj.) 311 001 Tel. : (91-1482) 245000 Email: [email protected] STATEMENT OF ASSETS & LIABILITIES AS ON 30TH SEPTEMBER, 2022
| Asat | ('{ In Lac) | ||
|---|---|---|---|
| Particulars | |||
| 30.09.2022(UNAUDITED) | 31.03.2022 | ||
| ASSETS | (AUDITED) | ||
| --(1) Non-current Assets | |||
| (a) Property, plant and equipment | 7776.32 | 7207.54 | 7425.74 |
| (b) C�ital work in progress | 20.47 | 568.10 | |
| (c) Intangible Assets | -- 3450.12238.43 | 12.75 | |
| (d) Intangible Assets under developi:nent | 0.00 | 11.52 | |
| -te) F�nancial Assets | 18.40 | 151.30 | |
| (i) Loans | |||
| (ii) Others Finacial Asse� | 6.57- | 4.90- | 9.74 - |
| - | 265.44 | 209.23 | 214.26 |
| ( f) Other non-current assets- | 1257.95 | 401.82 | I 080.63 |
| --- | 12994.82 | 7875.11 | 9461.29 |
| m Current Assets | |||
| (a) Inventories- | 15619.63 | 12100.73 | 14144.67 |
| (b) Financial Assets | - | ||
| (i)Trade Receivables | 9378.67 | 8558.04 | 8929.02 |
| (ii)Cash & Cash Equivalents | 40.75 | 10.60 | 22.90 |
| (iii)Bank Balances (Other than ii above) | 38.61 ------- | 39.40-- | 36.30 |
| (iv)Loans & Deposits� | 73.39 | 76.05 | --68.31 |
| (v)Ot�er financial Assets | 122.81 | 89.75 | 189.63 |
| (c)Current Tax Assets (Net) | 9.72 | 0.00 - | 37.43 |
| ( d) Other Current Assets | 2126.13 | 2099.34 | 2315.75 |
| 27409.71 | 22973.91 | 25744.01 | |
| TOT AL ASSETS | 40404.53 | 30849.02 | 35205.30 |
| - | |||
| EQUITY AND LIABILITIES | |||
| EQUITY- | -- | - | |
| �) Equity Share Capital | 1029.22 | 1029.22 | 1029.22 |
| (b) Other Equity | 8525.24 | 7403.76 | 7901.02 |
| 9554.46 | 8432.98 | 8930.24 | |
| LIABIL -ITIES---- | |||
| (I) Non - Current Liabilities | |||
| (a) Financial Liabilities | - | ||
| (i) Long Term Borrowings | 7042.62 | 3162.02 | 4521.50 |
| -(ii) Other Financial Liabilities | 106.24 | 106.11 | 105.91 |
| (b) Deferred Tax Liabilities (Net)- | - -476.14 | 434.90 | 436.37 |
| (c) Deferred 9o�ernment Grant | 7.10 | 27.48 | 12.55 |
| (d) Other Non Current Liabilities | 20.37 | 29.76 | 20.78 |
| 7652.47 | 3760.27 | 5097.11 | |
| (2) Current Liabilities | |||
| (a) Financial Liabilities | |||
| (i) Short Term Borrowings | 14870.11 | 12539.17 | |
| (ii) Trade P�yables | 5257.87 | 3495.45 | 14078.80 -4763.31 |
| (iii) Other Financial Liabilities | |||
| (b) Current Tax Liabilities (Net) | 2923.48 | 2394.05 | 2161.92 |
| (c) Deferred Government Grant | 0.00 | 77.96 | 0.00 |
| 20.38 | 34.39 | 31.23 | |
| (d) Other Current Liabilities | 125.76 | 114.75 | 142.69 |
| 23197.60 | 18655.77 | 21177.95 | |
| TOTAL EQUITY AND LIABILITIES | 40404.53 | 30849.02 | 35205.30 |
Place: Kolkata (W.B.) Date: 10th No'ember, 2022
By order of the � For_asL.{i,�d � �� �c;:.,�-�-· (ARUNCHU3 CHAIR!\ DIN: 00001718 D"'
| STATEMENT OF CASH FLOW FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2022 | $(\xi$ in Lac) | |
|---|---|---|
| Particulars | Six MonthEnded | Year Ended |
| 30.09.2022 | 31.03.2022 | |
| A) CASH FLOW FROM OPERATING ACTIVITIES: | ||
| Profit Before Tax | 998.65 | 1,598.41 |
| Adjustments for: | ||
| Depreciation and Amortisation | 560.85 | 1,151.70 |
| Interest Paid | 751.32 | 1,235.52 |
| Defined Benefit Plan (OCI) | (36.83) | (73.66) |
| Loss / (Profit) on sale of Property, Plant & Equipment & Intangible Assets | (19.80) | (21.77) |
| Deferred Revenue expenditure | 4.48 | (49.60) |
| Operating Profit Before Working Capital Changes | 2,258.67 | 3,840.60 |
| Adjustments for: | ||
| (Increase)/Decrease in Non - current Financial Assets - Loan | 3.17 | (3.64) |
| (Increase)/Decrease in Non - current Financial Assets | (51.18) | (53.20) |
| (Increase)/Decrease in Non - current Assets - Others | (177.32) | (1,063.80) |
| (Increase)/Decrease in Inventories | (1, 474.97) | (2, 536.07) |
| (Increase)/Decrease in Trade Receivables | (449.65) | (1,977.26) |
| (Increase)/Decrease in Current Financial Assets - Loan & Deposits | (5.08) | (25.82) |
| (Increase)/Decrease in Current Financial Assets - Others | 64.51 | (18.82) |
| (Increase)/Decrease in Current Assets - Others | 189.62 | (375.91) |
| Increase/(Decrease) in Non - current Financial Liabilities - Others | 0.33 | (1.20) |
| Increase/(Decrease) in Non - current Liabilities - Others | (0.41) | (13.53) |
| Increase/(Decrease) in Trade Payables | 494.56 | 2,698.02 |
| Increase/(Decrease) in Current Financial Liabilities - Others | 753.95 | 186.06 |
| Increase/(Decrease) in Current Liabilities - Others | (16.93) | 39.26 |
| Cash Generated from operations | 1,589.27 | 694.69 |
| Direct taxes (paid)/ Recd | (139.01) | (437.00) |
| Net cash flow from operating activities(A) | 1,450.26 | 257.69 |
| B) CASH FLOW FROM INVESTING ACTIVITIES: | ||
| Purchases of Property, Plant & Equipment and Intangible Assets | (3,892.96) | (1,609.09) |
| Sales of Property, Plant & Equipment and Intangible Assets | 36.59 | 87.21 |
| Net cash flow from investing activities(B) | (3,856.37) | (1, 521.88) |
| C) CASH FLOW FROM FINANCING ACTIVITIES | ||
| Proceeds from Term Loans | 3,068.07 | 2,883.43 |
| Repayment of Term Loans | (733.43) | (1,408.26) |
| Proceeds/(Repayment) of current borrowings | 964.15 | 1,035.92 |
| Dividend paid | (123.51) | |
| Interest paid | (751.32) | (1, 235.52) |
| Net cash flow from financing activities(C) | 2,423.96 | 1,275.57 |
| Net increase in cash and cash equivalents (A+B+C) | 17.85 | 11.38 |
| Opening cash and cash equivalents | 22.90 | 11.52 |
| Closing cash and cash equivalents | 40.75 | 22.90 |
Place: Kolkata (W.B.)Date: 10th November, 2022
For BSL Limited M بارا ARIN CHURY
By order of the Board
HILWARAF.R.N.
ASSO
R
Required disclosures/details in respect of Change in the Key Managerial Personnel pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015:
1.Resignation of Ms. Aanchal Patni as Company Secretary & Compliance officer of the Company-
| Disclosure Requirements | Details |
|---|---|
| ofchangeElj313eiatmeHt,ReasonVIZresignation,aeather etheFwiseFeme:i,•al, | Ms. AanchalPatnihasexpressedherintentionstoresignfrompost ofandtheCompanySecretary11thOfficer ofCompliancetheCompanyw.e.f.November,2022dueto personalreasons. |
| Date ofAppemtmeatI-cessations(as& +efms efapplicable)l,ppei:atmeat | 1110 November, 2022 |
| Briefcase ofprofile(inappointment) | NA |
| ofDisclosurerelationshipbetweendirectors(incase ofappointmentofdirector) | NA |
2. Appointment of Mr. Shubham Jain, (Membership No. ACS 49973), as the Company Secretary & Compliance officer of the Company-
| Disclosure Requirements | Details |
|---|---|
| ReasonofchangeElj3peiatmeHt,VlZ | AppointmentofMr. ShubhamJain,(Membership |
| resignation,Femeval,aeathef ethenvise | No. ACS49973), as theCompanySecretary&officerofplace ofCompliancetheCompanyinMs.12th NovemberAanchalPatni,w.e.f., 2022. |
| Date of:6,ppeiHtmeatI-cessations(asapplicable)& +efms efAppeiatmeHt | 1210 November, 2022 |
| Briefprofile(incase ofappointment),,. | ofMr. ShubhamJainisan AssociateMembertheInstituteofSecretariesofIndia.CompanyHe hasexperienceof5CorporateSecretarialyears IllAffairs,LegalMatters & StatutoryCompliances. |
| ofDisclosurerelati9nshipbetweendirectors(incase ofappointmentofdirector) | NA |