EIMCO Elecon India Ltd. — Board/Management Information 2021

Aug 5, 2021

EimjSecjSE 5 BSE Ltd. Phiroze Jeejeebhoy Towers 25th Floor Dalal Street Mumbai - 400 001 Comnanv Code 523708

th August, 2021 National Stock Exchange of India Ltd. Exchange Plaza, 5th floor Plot No. Cl 1, G Block Bandra-Kurla Complex Bandra (E), Mumbai - 400 051 Symbol EIMCOELECO - Series EO

Sub.: Outcome of Board Meeting held on 5th August. 2021

Dear Sirs,

Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that in the Meeting held today i.e. 5th August, 2021, commenced from 12:15 p.m. and concluded at 1:15 p.m. following are the outcome of the Board Meeting:

• The Board considered and approved the Unaudited Financial Results (Both Standalone & Consolidated) alongwith the Limited Review Report for the Quarter ended on 30th June, 2021 as per Regulation 33 of the SEBI (LODR)Regulations, 2015.
• Shri N. D. Shelat will cease to be a CFO & Key Managerial Personnel of the Company with effect from close of business hours on 30th September, 2021.
• Shri N. D. Shelat will also cease to be a member of Stakeholders Relationship Committee w.e.f. close of business hours on 30th September, 2021.
• Shri Vishal C. Begwani has been appointed as CFO & Key Managerial Personnel of the Company w.e.f. 1st October, 2021.

The details as required under the SEBI (LODR)Regulations, 2015 and the SEBI Circular CIRjCFDjCMDj4j2015 dated 9 September 2015 are attached as Annexure A to this letter.

Please acknowledge and take it on record.

Thanking you,

Yours faithfully, For Eit:;;:':5"dlal Limited

Riken~ar Dalwadi .. Company Secretary & Compliance Officer

Enclosure: As above

Annexure - A

The details of Shri N. D. Shelat are as under:

Sr.No.	Detailsofeventsthatneedstobeprovided	Informationof such event(s)
1	Reason for change viz. appointment,resignation,removal,deathorotherwise;	Retirementof ShriN.D. ShelatasCFOandKMP
2	&Dateofcessation(asapplicable)term of appointment	&Shri N. D. Shelat will cease to be a CFOKeyManagerialPersonneloftheCompanyw.e.f.closeofthebusinesshours on 30th September, 2021.
3	Brief profile (in case of appointment);	Not Applicable
4	Disclosurebetweenofrelationshipsdirectors(in case of appointmentof adirector).	Not Applicable

The details of Shri Vishal C. Begwani are as under:

Sr.No.	Detailsofeventsthatneedstobeprovided	Informationof such event(s)
1	Reason for change viz.appointment,resignation,removal,deathorotherwise;	Appointmentof Shri Vishal C.Begwani asCFOandKMP
2	Date of appointment(as applicable)&term of appointment	ShriVishalC.BegwanihasbeenappointedasCFOandKeyManagerialPersonneloftheCompanyw.e.£1stOctober, 2021 bythe Board of Directors on5thAugust,2021 as perthe provisionsofSection 203 of the CompaniesAct, 2013
3	Brief profile (in case of appointment);	He is a CharteredAccountantand AlumniofHM, Ahmedabadwithmorethan15yearsofrigorous,richanddiverse&experienceinFinanceAccountswithareasincludingFinancialAccounting,&CostingPerformanceMonitoring,TreasuryOperations,CashFlow&management,InternalControl,Directindirect taxation.
4	Disclosureofrelationshipsbetweendirectors(in case of appointmentof adirector).	He is not relatedto anyother directorsofthe Company./

Regd. Office & Works: {/ - EIMCO ELECON (INDIA) LTD., Anand Sojitra Road, Vallabh Vidyanagar - 388 120. Gujarat, India. Tel. : (02692) 230502, 230602, 230902, Telefax: (02692) 236506 Website: www.eimcoelecon.inICIN : L29199GJ1974PLC002574

EIMCO ELECON ( INDIA) LTD

STATEMENTOF STANDALONEUNAUDITED RESULTSFORTHE QUARTERENDEDJUNE 30,2021
	[Rs.inlakh]
Sr.			Quarter Ended		Year ended
No.	Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
		Unaudited	Audited	Unaudited	Audited
1	Income
	(a)Revenue from Operations	1,496.19	3,805.85	2,225.60	12,584.02
	(b)Other Income	214.18	143.66	461.42	1,133.05
	Total Income	1,710.37	3,949.51	2,687.02	13,717.07
2	Expenses
	(a)Cost of materials consumed	699.92	1,695.21	444.10	2,992.28
	(b)Purchase of stock-in-trade	387.19	650.46	487.29	2,294.87
	(c)Changes in inventories of finished goods, work-in-progressandstock-in-trade	(546.94)	(126.93)	79.92	1,373.55
	(d)Employee benefit expense	259.53	79.05	303.83	1,058.53
	(e)Finance Cost	18.04	.8.61	13.31	62.38
	(f)Depreciation and amortisation expense	197.52	200.59	159.68	730.15
	(g)Compensation to Distributors	187.71	373.51	252.25	1,315.34
	(h)Other Expenses	448.13	988.25	364.63	2,462.96
	Total Expenses	1,651.10	3,868.75	2,105.01	12,290.06
3	Profit beforeExceptional Items & Tax (1-2)	59.2.7	80.76	582.01	1,427.01
4	Add/(Less):Exceptional Item	-	-	-	-
5	Profit before tax (3+4)	59.27	80.76	582.01	1,427.01
6	Tax Expense :
	- Current Tax	51.77	24.12	200.00	314.12
	- MAT credit (receivable)/Utilisation	(35.77)	23.38		23.38
	- Adjustment of tax relating to earlier periods	-	-	-	-
	- Deferred Tax	(126.72)	10.55	(125.75)	(36.19)
	Total Tax Expense	(110.72)	58.05	74.25	301.31
7	Net Profit for the period after tax (5-6)	169.99	22.71	507.76	1,125.70
8	Other Comprehensive Income (net of tax)
	Items that will not be classified to profit & Loss
	(i) Remeasurement of defined benefit plan		(1. 54)		(1.54 )
	(ii) income tax related to items no (i) above		0.45		0.45
	Other Comprehensive Income for the period (net of tax)		(1.09)		(1.09)
9	Total Comprehensive Income for the period (net of tax)(7+8)	169.99	21.62	507.76	1,124.61
	10 Paid-up Equity Share Capital ( Face Value'10/- per share)	576.84	576.84	576.84	576.84
	11 Other Equity Reserves				31,849.49
	12 EPS' -(Not Annualised)
	- Basic	2.95	0.39	8.80	19.51
	- Diluted	2.95	0.39	8.80	19.51
	(See accompanying notes to the Financial Results)
	Notes:
	1The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 5th
	August, 2021. The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results.
	2This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules,2015 (Ind AS)
	prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent
	applicable.
	3In view of the lockdown across the country due to the outbreak of COVID-19 pandemic, operations in our company are scaled
	down or shut down in compliance with the directives / orders issued by the Government authorities.The Company has evaluated impact of this pandemic on its business operations including orders and receivables from
	customers and based on its review and current indicators of future economic conditions, at this time it is not possible to
	ascertain the impact on business operations. However, the management will continue to closely monitor any material changes
	to future economic condition. The eventual outcome of the impact of the global health pandemic may be different from those
	estimated as.on the date' of approval of these financial results.

4 The figures for the quarter ended 31st March, 2021 are the balancing figures between audited figures in respect of the full financial year and the unaudited published year to date figures up to the third quarter ended 31st December, 2020

5 The Company has only one reportable business segment i.e. Machinery and Spares which is applicable to standalone..results.

6 Figures of the previous quarters/period have been regrouped/restated wherever necessary to make them comparable with figures of the current quarter /period.

For and on behalf of Board of Directors Eimco El on (India) Limited CIN: L29 9 GJ1974PLC002574

• Mu rayan Dwivedi Executl e Director DIN: 08 2155

Phone: (0) 257207 CHARTERED ACCOUNTANTS

Ref. No. NVSI Date:

G-21/22, Tanariri Apartment, Ashabaug Society, Navsari ·396445

Independent Auditor's Limited Review Report on the Quarterly Unaudited Standalone Financial Results of Eimco Elecon (India) Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To Board of Directors of Eimco Elecon (India) Limited

We have reviewed the accompanying statement of unaudited standalone fmancial results of Eimco Elecon (India) Limited ('the Company') for the quarter ended on June 30, 2021 (lithe Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEB! (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.

This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors in their meeting held on 05,b August, 2021 and prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34 "Interim Financial Reporting" (lnd As 34"), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued there-under and other accounting principles generally accepted in India. 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 Engagement (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 ~s 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 accompanying Statement prepared in accordance with the recognition and measurement principals laid down in the applicable Indian Accounting Standards ("Ind As") specified under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other recognized accounting practices and policies thereon, has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirement) Regulation, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Thacker Butala Desai Chartered Accountants reAl's Firm's Registration No: Il0864W

Yatin N. Patel Partner Membership No: 122676

Date: OS,h August, 2021 leAf's UDlN: 21122676AAAADD4713

Place: Navsari

MumbaiOffice: 418 Dalamal Towers, Nariman Point, MUMBAI- 400001. Phone: 22042086, 22049473, 2204148, Fax: 2204148

EIMCO ELECON ( INDIA) LlD

	STATEMENT OF CONSOLIDATEDUNAUDITEDRESULTS FOR THE QUARTER ENDED JUNE 30, 2021
					[Rs. in lakh)
		QuarterEnded			Year ended
Sr.	Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
No		Unaudited	Audited	Unaudited	Audited
1	Income
	(a) Revenue from Operations	1,496.19	3,805.85	2,225.60	12,584.02
	(b) Other Income	214.18	143.66	461.42	1,133.05
	Total Income	1,710.37	3,949.51	2,687.02	13,717.07
2	Expenses
	(a) Cost of materialsconsumed	699.92	1,695.21	444.10	2,992.28
	(b) Purchase of stock-in-trade	387.19	650.46	487.29	2,294.87
	(c) Changes in inventoriesof finishedgoods, work-in-progressand stock-in	(546.94)	(126.93)	79.92	1,373.55
	trade
	(d)Employee benefit expense	259.53	79.05	303.83	1,058.53
	Finance Cost(e)	18.04	8.61	13.31	62.38
	(f)Depreciationand amortisationexpense	197.52	200.59	159.68	730.15
	(g)Compensationto Distributors	187.71	373.51	252.25	1,315.34
	(h)Other Expenses	448.13	988.25	364.63	2,462.96
	Total Expenses	1,651.10	3,868.75	2,105.01	12,290.06
3	Profit before Share of profit / (loss) in associates,Exceptionalitems
	and Tax(1-2)	59.27	80.76	582.01	1,427.01
4	Share of profit/(Ioss)of Associates	4.30	2.56	0.27	1.80
5	Profit before Exceptionalitems and Tax(3+4)	63.57	83.32	582.28	1,428.81
6	Add/(Less):ExceptionalItem	-	-	-	-
7	Profit before tax (5+6)	63.57	83.32	582.28	1,428.81
8	Tax Expense:
	- Current Tax	51.77	24.12	200.00	314.12
	- MAT credit(receivable)/Utilisation	(35.77)	23.38	-	23.38
	- Adjustmentof tax relatingto earlierperiods	-	-	-	-
	- Deferred Tax	(126.72)	10.55	(125.75)	(36.19)
	Total Tax Expense	(110.72)	58.05	74.25	301.31
9	Profit for the period (7-8)	174.29	25.27	508.03	1,127.50
	10 Other ComprehensiveIncome(net of tax)
	Items that will not be classifiedto profit & Loss
	(i) Remeasurementof defined benefit plan		(1.54)		(1.54 )
	(ii) Income tax related to items no (i) above		0.45		0.45
	Other ComprehensiveIncome(net of tax)		(1.09)		(1.09)
	11 Total ComprehensiveIncomeafter tax (10+11)	174.29	24.18	508.03	1,126.41
	12 Paid-up Equity Share Capital ( Face Value'10/- per share)	576.84	576.84	576.84	576.84
	13 Other Equity Reserves				32,154.31
	14 EPS .-(Not Annualised)
	- Basic	3.02	0.44	8.81	19.55
	- Diluted	3.02	0.44	8.81	19.55
	(See accompanyingnotes to the Financial Results)
	Notes:
	1The above results were reviewedby the Audit Committeeand approved	by the Board of Directors		at their meetings	held on 5th
	August,2021. The StatutoryAuditorsof the Company have carried out a Limited		Review of the aforesaid	results.
	2This statementhas been preparedin accordancewith the Companies(Indian	Accounting	Standards)	Rules,2015	(Ind AS) prescribed
	under Section 133 of the Companies Act, 2013 and other recognised
	accountingpractices and policies to the extentapplicable.
	3In view of the lockdownacross the countrydue to the outbreakof COVID-19pandemic,operationsin our company are scaled down or
	shut down in compliancewith the directives/ orders issued by the Governmentauthorities.The Company has evaluatedimpact of this pandemicon its business operationsincludingorders and receivablesfrom customersand
	based on its review and currentindicatorsof futureeconomic conditions,	at this time it is not possible to ascertain			the impact on
	business operations. However, the managementwill continueto closely monitorany materialchanges to futureeconomic condition.
	The eventualoutcomeof the impact of the global health pandemic	may be different	from those estimated	as on the date of approval
	of these financialresults.
	4The figures for the quarterended 31st March, 2021are the balancing figures		between audited figures	in respect of the full financial
	year and the unauditedpublishedyear to date figuresup to the third quarterended 31st December,2020 .
	. 5Consolidatedstatementincludes share in associates:Eimco Elecon Electricals	Ltd.
	6The Company has only one reportablebusiness segmenti.e. Machinery	and Spares which is applicable		to standalone	results.
	7Figures of the previous quarters/periodhave been regrouped/restated	wherever	necessary to make them comparable		with figuresof
	the currentquarter/period.
	For and on behalf of Board of Directors
	Eimco Eleco(India)Limitedccon (//)
	CIN: L2919G· 1974PLC002574
	0@.v.%'3 Nagar;:::
	«:.~
	/.:;'~

Muk ayan Dwivedi Executi Director DIN: 084 2155

Place: Vallabh Vidyanagar Date: 5th August 2021

Phone: (0) 257207

Thacker Butala Desa!

CHARTERED ACCOUNTANTS

Ref. No. NVSI Date:

G-21/22, Tanariri Apartment, Ashabaug Society, Navsari • 396 445

Independent Auditor's Limited Review Report on the Quarterly Unaudited Consolidated Financial Results of Eimco Elecon (India) Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

To Board of Directors of Eimco Elecon (India) Limited

We have reviewed the accompanying statement of unaudited consolidated financial results of Eimeo Elecon (India) Limited ('the Company') and its share of the net profit/(loss) after tax and total comprehensive income of its associate ( collectively , The Group , ) for the quarter ended on June 30, 2021 (lithe Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This Statement is the responsibility of the Company's management and has been approved by the Board of Directors in their meeting held on 05th August, 2021 and prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34 "Interim Financial Reporting" (Ind As 34"), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued there-under and other accounting principles generally accepted in India. 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 Engagement (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.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable.

The Statement includes the unaudited fmancial information I financial results of an associate namely Eimco Elecon Electricals Limited.

Based on our review conducted as above and based on the consideration of report of the other auditor and management certified accounts, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited consolidated financial results, prepared in accordance with the recognition and measurement principals laid down in the applicable Indian Accounting Standards ("Ind As") specified under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other recognized accounting practices and policies thereon, has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirement) Regulation, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Thacker Butala Desai Chartered Accountants leAI's Firm's Registration No: 110864 W

f~

Yatin N. Patel Partner Membership No: 122676

Date: 05th August, 2021 leAf's UDlN: 21l22676AAAADE4248

Mumbal Office: 418 Dalamal Towers, Nariman Point, MUMBAI· 400001. Phone: 22042086, 22049473, 2204148, Fax: 2204148