29th October, 2021

To,

The Manager (Listing),	The Manager (Listing),
The BSE Ltd.	National Stock Exchange of India Ltd.
Mumbai	Mumbai
Company's Scrip Code: 505700	Company's Scrip Code: ELECON

Sub Outcome of Board Meeting held on Friday, 29th October, 2021

Ref Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/ Madam,

In terms of the subject referred Regulation, this is to inform you that the Board of Directors of the Company has, at its meeting held today i.e. on 29th October, 2021, inter alia, approved the Unaudited Financial Results (Standalone & Consolidated) alongwith Limited Review Report of the Company for the quarter and half year ended on 30th September, 2021.

The meeting commenced at 10:15 a.m. and concluded at 1:56 p.m.

You are requested to take the same on your records.

Thanking you.

Yours faithfully, For Elecon Engineering Company Limited,

Bharti ~ Isarani Company Secretary & Compliance Officer

Encl.: As above

ELECON ENGINEERING COMPANY LIMITED, Post Box# 6, Vallabh Vidyanagar- 388 120, Gujarat, India. Tel.: +91 - 2692- 238701, 238702. Fax: +91 - 2692-227484. CIN L29100GJ1960PLC001082 I [email protected] I www.elecon.com

	ELECON ENGINEERING COMPANY LIMITED
--	------------------------------------	--	--

Sr.		Quarter Ended			Six Month Ended	Yea.rended
No.	'Particulars	30 Sep 2021	30 Jun 2021	30 Sep 2020	30 Sep 2021		30 Sep 2020 31 March 2021
		(Unaudited)	(Unaudited)	(Unaudited)	(UnaudJted)	(Unaudited)	(Audited)
	1 Revenue from operations	23.516.76	21,929.23	20,504.07	45,445.99	29,485.54	79,636.37
	2 Other income	146.81	245.66	235.32	392.47	343.53	1,079.06
	3 Total Income (1+2)	23,663.57	22 174.89	20,739.39	45,838.46	29,829.07	8_0 715.43
	4 Expons!>s
	(a) Cost of materials consumed	11 ,148.28	11,490.05	8,635.67	22,638.33	10,880.75	31,963.54
	(b) Changes in inventories of finished goods and work-in-progress	391 .81	(1.553.43)	574.89	(1,161.62)	1,468.04	4,358.86
	(c) Manufacturing expenses and erection charges	2,201.26	1,643.70	2,366.25	4,044 .96	3,285.20	7,305.22
	(d) Employe,e benefits expense	1,297.70	1,624.40	1,195.78	2,822.10	3,001.58	6,367.93
	(e) Finance costs	1,054.07	1,189.97	1,413.07	2,244.04	2,868.63	5.426.89
	(f) Depreciation and amortisation expense	983.28	968.20	1,072.01	1,951.48	2,124.34	4,231.33
	(g) Other expenses	3,383.88	3,620.42	2,405.38	7,004.30	5,976.89	15,233.48
	Total Expenses	20,460.28	19,083.31	17,663.05	39,543.59	29,605.43	74,887.25
	5 Profit I (Loss) before tax (3-4)	3,203.29	3,091.58	3,076.34	6,294.87	223.64	5,828.18
	6 Tax expenses
	Current tax	730.14	735.49	-	1,465.63	-	-
	Defer>ed tax	162.35	43.57	1,060.95	205.92	82.20	2,201 .69
	7 Net Profit I (Loss) for the period after tax (5·6)	2,310.80	2,312.52	2,015.39	4,623.32	141.44	3,626.49
8	Other comprehensive income I (expenses) (net of tax)
	Items that will not be reclassified to profit or loss	(30:81)	30.81	(7.38)	-	(14.76)	112.42
	Income tax related to items that will not be reclassified to profit orloss	7.75	(7.75)	2.58	-	5.16	(28.30)
	9 Total comprehensive Income I (expense) for the period (7+8)	2,287.74	2,335.56	2,010.59	4,623.32	131.84	3,710.61
	10 Paid-up equity share capital
	(Face value per equity share INR 2/-)	2,244.00	2,244.00	2,244.00	2,244.00	2,244.00	2,244.00
	11 Debt capital						9,571.43
	12 Other equity (including debenture redemption reserve)						79,692.54
	13 Debenture redemption reserve						2,500.00
	14 Earnings per share (of INR 2/- each) (not annualised) (In Rupees)
	(a) Basic	2.06	2.06	1.80	4.12	0.13	3.23
	(b) Diluted	I2.06	2.06	1.80	4.12	0.13	3.23

1 The above unaudited standalone financial results for the quarter and six months ended 30 September 2021 were reviewed and recommended by the Audrr Committee and approved by tho Board or Directors al. their respective meetings held on 29 October 2021 . The statutory auditors have expressed an unmodified conclusion on these standalone financial results. The review report has been filed with the stock exchange and i£ available on the Company's website.

2 During the period April2021 to September 2021, the Company redeemed non-convertible debentures Series I and Series II total amounting to~ 100 crore.

3 As per lnd AS 108- 'Operating Segments', the Company has reported segment information under two segments i.e. 1) Material Handling Equipment and 2) Transmission Equipment.

4 Previous period figures have been regrouped I reclassified wherever neces_sary.

		Quarter Ended			Year ended
Particulars	30 Sep 2021	30 Jun 2021	30 Sep 2020	30 Sep 2021		30 Sep 2020 31 March 2021
	(Unau_dited)	(,Unaudited)	(Unaudiled)	(Unaudited)	(UnaUdited)	(Audited)
1. SEGMENT REVENUE
(a) Material Handling Equipment	4,834.08	2,959.34	3,336.07	7,793.42	5,394.02	13,924.65
(b) Transmission Equipment	18,682.67	18,969.89	17,168.00	37,652.56	24,091.52	65,711.72
Net Sales /Income from Operations	23,516, 76	21 92923	20 504.07	45,445.99	29 485.54	79 636.37
2. SEGMENT RESULTS PROFIT (+)/LOSS(·) BEFORE TAX &INTEREST
(a) Material Handling Equipment	651.17	(32.89)	59.97	618.28	(1,681.98)	(5,043.30)
(b) Transmission Equipment	3,538.08	4,374.93	4,545.42	7,913.01	4,915.34	17,154.51
Total	4,189.25	4,342.04	4,605.39	8,531.29	3,233.36	12,111.21
Less:
I) Finance Cost	1,054.07	1,189.97	1,413.07	2,244.04	2,868.63	5,426.89
II) Other unallocat~d corporate overheads	69.97	151.99	236.56	221.96	317.08	1,484.08
iii) Unallocable income	(138.10)	(91.50)	(120.58)	(229.60)	(175.99)	(627.94)
Tot. I Profit I {Loss) before Tax	3,203.29	3,091.58	3 076.34	6,294.87	223.64	5,828.18
3. SEGMENT ASSETS
(a) Material Handling Equipment	37,025.99	39,859.62	44,402.15	37,025.99	44,402.15	43,240.68
(b) Transmission Equipment	1,00,582.74	1,01,302.99	1,02,010.48	1,00,582.74	1,02,010.48	1,09,016.93
(c) Unallocated	19,145.39	18,428.37	18,046.89	19,145.39	18,046.89	17,933.01
Total	1,56,754.34	1,59,590.98	1,64 459.52	1,56, 754,34	1,64,459.52	1, 70,190.62
4. SEGMENT LIABILITIES
(a) Material Handling Equipment	17,630.43	21,850.70	33,795.63	17,630.43	33,795.63	29,601.18
(b) Transmission f'quipment	46,379.41	47,077.16	49,597.80	46,379.41	49,597.80	53,155.59
(c) Unallocated	6,633.19	6,391.00	2,708.32	6,633.19	2,708.32	5,497.31
Total	'70 643.2ll	75 318.86	86101.75	70 643.28	86,101.75	88 254.08
5. NET CAPITAL EMPLOYED	86111 .06	84 272.12	78,3fi7.77	86,111.06	78,357.77	81 936.54

·Ef ~··'" 00 ,.j ... ''/"'" ,.,,,_. u I I LLl ~ NAGAR v.v. ; ) ~ ' ~~Eo"'-;,·"" ~ s;· I "Iii ~ 'I!!J e 'Q'a Pra . Patel Place : Vallabh Vidyanagar - Chairman & Managing Director - - Date : 29 October, 2021 DIN : 00037394

STANDALONE STATEMENT OF ASSETS AND LIABILITIES

		(Amounts in INR Lakhs)
Pa)'ticulars	As at30 Sep 2021(Unaudited)	Asal'31 March 2021 ;(Audited)
ASSETS
I. Non-current assets
(a) Property, plant and equipment	53,854.51	54,706.63
(b) Right-of-use assets	3,790.84	3,840.57
(c) Capital work-in-progress	9.35	30.96
(d) Investment properties	2,540.81	2,547.00
(e) Intangible assets	240.11	299-97
(f) Financial assets
(i) Investments	11,865.28	11,865.28
(ii) Loans
(iii) Other financial assets	479.34	1,047.55

(g) Income tax assets (net)	3,033_95	2,020.33
(h) Other non-current assets	869.64	1,175.17
	76,683.83	77,533.46
II.Current assets
(a) Inventories	17,655_14	17,610.95
(b) Financial assets
'(i) Trade receivables	40,838.47	46,688.78
(ii) Cash and cash equivalents	1,722.36	1,594.15
(iii) Bank balance other than (ii) above	3,301 .13	3,466.41
(iv) Loans	872_04	881 .53
(v) Other financial assets	12,875.45	19,605-94
{c) Other current assets	2,805.92	2,809-39
	80,070.51	92,657.15

Total Assets	1,56,754.34	1. 70,190.61
EQUITY AND LIABILITIES
Equity
(a} Equity share capital	2,244.00	2,244.00
(b) Other equity	83,867_06	79,692.54
	86,111.06	81,936.54
LIABILITIE~I. Non-current liabilities(a} Financial liabilities
(i} Borrowings	2,269.33	11,615.40
(ii} Lease liabilities	1,066.62	1,640.51
(b) Provisions	941.08	336.63
(c) Deferred tax liabilities (net}	3,205.04	2,999.11
	7,482.07	16,591.65
II. Current liabilities(a} Financial liabilities
(i} Borrowings	12,810.00	10,342.13
(ii} Lease liabilities	1,152.01	1,107.26
(iii} Trade payables
Total outstanding dues of micro and small enterprises
	2,707.80	4,367.94
Total outstanding dues of other than micro and small enterprises	29,427.67	31,793.04
(iv} Other financial liabilities	4,457.64	4,564.79
(b) Other current liabilities	7,362.26	15,469.39
(c) Provisions	2,227.01	2,466.69
(d) Current tax liabilities (net}	3,016.82	1,551.18
		71,662.42
Total Liabilities		88,254.07
Total Equity and Liabilities		1. 70,190.61





Place : Vallabh VidyanagarDate :

Steel IndustryMarine IndustryPlastic IndustryPower IndustryRubber Industry	Sugar Industry	MiningCement Industry

ELECON ENGINEERING COMPANY LIMITED, Anand - Sojitra Road, Vallabh Vidyanagar- 388 120, Gujarat, India. Tel.: +91-2692-238701, 238702. Fax: +91-2692-227484. CIN L29100GJ1960PLC001082 I [email protected] www.elecon.com

Cranes

Elecon Engineering Company Limited

Standalone•Statement of Cash Flows

for rhe six monrhs ended Seprember 30,202/

(INR in Lakhs}
Particulars	Six months ended	Six months ended	Year ended
	Sep 30,2021	Sep 30,2020	March 31,2021
	(Unaudited)	(Unaudited}	(Audited)
Cash flow from operating activities
Profit before tax	6,294.87	223.64	5,828. 18
Acjjustments for:
(i) Depreciation and amortisation expense	1,951.48	2, 124_34	4,231 33
(ii) Finance costs	2,244.04	2,868.63	5,426.89
(iii) (Gain)floss on fair valuation of investment		L68	(57.41}
(iv} (Gain} on sale of property plant and equipment (net}		(857}
(iv} Loss on sold/discarded of property, plant and equipments (net)(v) Interest income	169.96		27. 11
(vi) Dividend income	(112.69}	(100.79}(47 92)	(214.16}
(vii) Increase/(Decrease) in ECL provision	(47.92}1,222.33		(344.68}4,056.13
(ix) Unrealised exchange (gain} /loss	(176.52}	(9.69)	(319 81}
(x) Provision for other contractual liabilities, warranty and others	257.44	112 40	495 30
(xi) Increase/( reversal) of provision for onerous contract	(31.11}	18 61	145 78
(xii) Liabilities written-back	(82.74}	(82.88}	(113 22}
(xiv) Provision for doubtful debts		1,299 82
(xiv) Rent Income		(55 32)
	11,689.14	6,343.96	19,161.44
WorkinJ: Capilql Adjustments
(Increase )/Decrease in trade receivables	4,666.97	12,17 1_95	5,180 64
(Increase )/Decrease in inventories	(44.19)	1,941_83	5,224 56
(lncrease)/decrease in financial assets	6,789.81	1,851.08	(3,620 80}
(Increase )!Decrease in other current and non-current assets(Decrease}llncrease in trade payables	83.00	455 11	1,352.74
(Decrease)/Increase in provisions, current and non-current liabilities	(3,805.46}	(16,825.77}	(9,242 51}
(Decrease)/Increase in other financial liabilities	(7,968.69)687.87	(2,185,55}3,063 97	3,243.43592. 11
Cash generated from operations
	12,098.45	6,816.58	21,891.61
Tax refund (net of taxes paid}	(1,013.63}	4.22	57.92
Net cash generated from operating activities (A)	11,084.82	6,820.80	21,949.53
Cash Oow from investing activities
Payments fbr purchase of property, plant and equipment	(1,060.36)	(179 09)	(377.63}
Proceeds from sale of property, plant and equipment	165.25	42 80	126.58
Interest received	64.05	71_89	203.26
Dividend received	47.92	44.33	341 .09
(Increase)/Decrease in bank balances not considered as cash and cash equivalent (net)	732.31	(515 49}	(1 ,967.94}
Proceeds from redemption of investments			107.29
Rent received		55.32
Net cash (used in) from investing activilies (B)	(50.83)	(480.24)	(1 ,567.35}
Cnsh Oow from financing activities
Repayments of non-current borrowings	(I 0,074.21)	(368.00}	(1,847 .05}
(Repayment}/Proceeds of current borrowings (net} (Nole 3)	3,235.20	(2,670.84)	(11,443 40}
Repayment against other financial arrangements	(515.14)	(458.20}	(944 04}
Finance cost paid	(3,080.75)	(2,693 .85}	(5,022 39}
Dividend paid (including dividend distribution tax}	(454.87)		(13.71}
Principal p~yment of lease liabilities	(16.01}	(2077}	(39 24}
Net cash (used in) financing activities (C)	(10,905.78)	(6,211.66)	(19,309.83)
Net increase in cash and cash equivalents (A+B+C)	128.21	128.89	1,072.35
Cash and cash equivalents at beginning of the yenr	1,594.15	521.80	521.80
Cash and cash equivalents at the end of the period	1,722.36	650.69	1,594.15
Components of cash & cash equivalents :
Cash on hand	0.26	0.26	026
Balances with banks
-In current accounts	1,722.10	650 43	1,572.89
Cheques on hand			21.00
	--------	~~· 72~2 .3 6 --------~~~------~~~650.69	1,594.15

Notes:

Gearing industries. Gearing economies.

ELECON ENGINEERING COMPANY LIMITED, Anand- Sojitra Road, Vallabh Vidyanagar • 388 120, Gujarat, India. Tel.: +91-2692-238701, 238702. Fax: +91-2692-227484. CIN L29100GJ1960PLC001082 I [email protected] ! www.elecon.com

CNK & Associates LLP

Chartered Accountants

Narain Chambers, 5th Floor, M.G. Road, Vile Parle (E), Mumbai- 400 057. Tel. : +91-22-6457 7600 • Fax: +91-22-2612 8580

Ja•b Chamber•, 3rd floor, 7-A. Sir P.M. Road, Fort, Mwnl,a.i- 400 001. Tel. : +91-22-6623 0600 I 2266 1819 • Fax: +91-22-2261 5814

Independent Auditor's Review Report on Unaudited Quarterly and Year to Date Standalone Financial Results of Elecon Engineering Company Limited Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

TO THE BOARD OF DIRECTORS OF ELECON ENGINEERING COMPANY LIMITED

1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Elecon Engineering Company Limited ("the Company") for the quarter ended September 30, 2021 and year to date result for the period April 1, 2021 to September 30, 2021, ("The Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and 52· of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
1. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("lnd AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. Our responsibility is to issue a report on the Statement based on our review.
1. We conducted our review of the Statement in accordance with the Standqrd 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 of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards 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.
1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited Standalone Financial Results prepared in accordance with applicable Indian Accounting Standards, prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practic~s generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which, it is to be disclosed, or that it contains any material misstatement.

5. Other Matter

a. The audited financial results for the year ended March 31, 2021 and unaudited financial results for the quarter June 30, 2021 and half year ended September 30, 2020, included in these financial results are based on the previously issued results of the Company prepared in accordance with the Indian Accounting Standards ("lnd AS") prescribed under Section 133 of Companies Act, 2013. Those audited/unaudited financial results prepared under lnd AS were audited/reviewed by the predecessor auditor, whose audit report dated May 27, 2021 expressed an unmodified opinion on those financial results and unmodified limited review reports dated August 06, 2021 and November 06, 2020 respectively.

For C N K & Associates LLP Chartered Accountants Firm Registration No.: 101961 WIVV -100036

Himanshu Kishnadwala Partner

Membership No. 37391 UDIN: 21037391AAAAIV1710

Place: Vallabh Vidyanagar Date: October 29, 2021

							(Amounts in INR Lakbs)
Sr.No.		30Sop 2021	Quarter ended30 June 2021	30 Sell-2020	30 Sop 2021	Six months ended30 Sep 2020	Year ended31 March 2021
	Particulars	Unaudited	Unaudited)	Unaudited)	. (Unaudited	(Unouditod	(Audited)

1	Revenue from operations	31,039.64	29,254.46	26,365.40	60,294.10	39,843.60	1,04.470,65
2	Other incomeI	162.01	176.17	177.79	338,18	29520	572,73
3	Total income (1+2)	31,201.65	2.9,430.63	26,543.19	60,632.28	40,138.80	1,05,043.38
4	Expenses
	(a) Cost of materials consumed	14,758.48	15,206.77	11.438.71	29,965.25	15,770.49	43,910.33
	(b) Changes in inventories of finished goods and work-in-progress	169.81	(1,545.34)	846.71	(1,375.53)	1,790.19	4,625.73
	(c) Manufacturing ex.penses and erection charges	2,276.85	1,911.78	2.464.96	4,188,63	3,447.04	7,677.93
	(d) Employee benefits expense	3,026.21	3,301.34	2,531 ,49	6,327.55	5,772.91	11,793.91
	(e) Finance costs	1,165.93	1,353.10	1,467.71	2,519.03	3,116.25	5,980.63
	(f) Depreciation and amortisation expense	1,235.89	1,224.14	1,321.73	2,460.03	2,634.73	5,211 .23
	(g) Other expenses	4,140.89	4,493.07	3,204.08	8,633.96	7,449.01	17,901.85
	Total ExpensesI	26,774.06	25,944.86	23,275.39	52,718.92	39,980.62	97,101.61
5	Profit I (Loss) before share In profit of associate and tax (3-4)	4,427.59	3,485.77	3,267.80	7,913.36	158.18	7,941.77
6	Share In profit of associate (net of tax)	20.78	28.97	45.95	49.75	130.38	187.39
7	Profit I (Loss) before tax (5+6)	4,448.37	3,514.74	3,313.75	7,963.11	288.56	8,129.16
8	Tax expenses
	Current tax	761 ,34	744 32	57.07	1,505.66	73.09	134.28
	Adjustment of tax relating to ear~er periods	-		1,060.95		82.20	30.09
	Deferred tax	149.01	43.57		192.58		2.201 .69
9	Net Profit/ (Loss) for the period after tax (7 -8)	3,538.02	2,726.85	2,195.73	6,264.87	133.27	5,763.10
10	Non-controlling interest						-
11	Net Profit I (Loss) after tax and non controlling interest (9-10)	3,538.02	2,726.85	2,195.73	6,264.87	133.27	5,763.10
12	Other comprehensive income/(expense) (net of tax)
	(i) Items that will not be reclassifed to profit or loss	(26.37)	(34.18)	253.22	(60.55)	129.95	352,87
	Income tax related to items that will not be reclassified to profit or loss	7.75	(7.75)	(11.34)	-	(38.42)	(28.22)
	(ii) Items that will be reclassified to profit or loss	(300.26)	360.60	(128.19)	60.34	14.09	417.70
1314	Total comprehensive income/(expense) for the period (11+12)Paidup equity share capital	3,219.14	3,045.52	2,309.42	6,264.66	238.89	6,505.45
	(Face value per equity share INR 2/-)	2,244.00	2,244.00	2,244.00	2,244.00	2,244.00	2,244.00
15	Debt capital						9,571 .43
16	Other equity (including debenture redemption reserve)						89,680.83
17	Debenture redemption reserve						2,500.00
18	Earnings per share (of tNR 21· each) (not annuatised) (In Rupees)
	(a) Basic(b) Diluted	3.153.15	2.432.43	1,961.96	5.585.58	0.120.12	5.145 .14

1 The above unaudited consolidated financial results for the quarter and •lx months ended 30 September 2021 were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on 29 October 2021. The statutory auditors have expressed an unmodified conclusion oo these consolidated financial results.The review report has been filed with the stock exchange and is available on the Holding Company's website.

2 During the period April2021 to September 2021, the Holding Company redeemed non-convertible debentures Series I and Series II total amounting to~ 100 crore.

3 As per lnd AS 108 ·'Operating Segments', the Group has reported segment information under two segments i.e. 1) Material Handling Equipment and 2) Transmission Equipment.

4 Previous period liil_ures have been regfl)uped I reclassified wherever necessary.

Gearing industries. Gearing economies.

	(Amountidn INR Lakhs)Six months ended
Particulars	Quarter ended					Year ended
	30 Sep2021(Unaudited)	30 June 2021(Unaudlled)	30 Sep 2020(Unuudlled)	30 Sop2021(Unaudited)	:iOSep 2020(Unaudited)	31 "1ar ch 2021l_Amlitec!l_

1. SEGMENT REVENUE
(a) Material Handling Equipment	4,834.08	2.959.34	3,336.07	7,793.42	5.394.02	13,924.65
(b) Transmission Equipment	26,205.56	26,295.12	23,029.33	52,500.68	34,449.58	90,546.00
Net Salosllncome from Operation•	31,039.64	29,254.46	26.365.40	60,294.10	39,843.60	1.04,470.65
2. SEGMENT RESULTS(PROFIT)(+)ILOSS(-J BEFORE TAX & INTEREST FROM EACHSEGMENT
(a) Material Handling Equipment	651.17	(32.89)	59.97	618.28	(1,681 ,98)	(5,043.30)
(b) Transmission Equipment	4,955.33	5,023.88	4,896.60	9,979.21	5,249.79	19,601.10
Totnl	5,606.50	4.990.99	4,956.57	10.597.49	3 567.81	14,557.80
U>ss:
I) Finance costs	1,165,93	1,353.10	1,467.71	2.519.03	3,116.25	5,980.63
II) Other unallocated corpori'te overheads	88.13	198.48	270.44	286.61	373,85	879.29
iii) Unallocable income	(95.93)	(75.33)	(95.33)	(171 ,26)	(210.85)	(431.28)
Total Profill loss before tux	4.448.37	3,51 4.74	3.313.75	7,963.11	288.56	8,129.16
3. SEGMENT ASSETS
(a) Material Handling Equipment	37,025.99	39,859.62	44.402.15	37,025.99	44,402.15	43,240.68
(b) Transmission Equipment	1.41.603.20	1.42,698.42	1,37,854.79	1,41,603.20	1,37,854.79	1,50,817.53
(c) Unallocated	7,127.33	6,403.96	11,212.61	7,127.33	11,212,61	5.215.40
Tom!'	1,85,756.52	1,88,962.00	1.93,469.55	1,85,756.52	1,93.469.55	1,99,273.61
4. SEGMENT LIABILITIES
(a) Material Handling Eq_uipment	17,630.43	21,850.70	33.795.63	17,630.43	33,795.63	29.601.18
(b) Transmission Equipment	63,594.42	65,578.72	71,204.44	63,594.42	71.204.44	72,079.65
(c) Unallocated	6,790.98	6,562.23	2,811 .21	6,790.98	2,811.21	5,667.95
Tot< I	88,015.83	93,991 .65	1,07,811 .28	88.015.83	1,07,811 .28	1,07,348.78

S.NET CAPITAL EMPLOYED	97,740.69	94,970.35	85,658.27	97,740.69	85,658.27	91,924.83

UNAUDITED CONSOliDATED SEGMENT WISE REVENUE, RESUlTS, ASSETS AND liABiliTIES FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2021

~ ~ ~ on thalf K Boa'!:_f Directors . <;::- - UJ c ~~~~ tr~ • '?a~ Praya.:vt~tel Place Vallabh Vidyanagar - Chairman & Managjng Diroclor

Date : 29 October, 2021 DIN : 00037394

Cement Industry

(Amounts In INR k~sl

ELECON ENGINEERING COMPANY LIMITED

	CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES

		Particulars	A!> at30 September 2021(Unaudited)	As at31 March 2021(Audited)
		ASSETS
		I. Non~urrent assets
		{a) Property, plant and equipment	53,907.97	54,834.46

		{b) Righl-of-use assets	5,573.92	5,900.08
		(c) Capital work¥in-progress	9.35	30.96
		{d) Investment properties	2,540.82	2,547.00
		{e) Goodwill	10,598.76	10,712.15
		(I) Other intangible assets	1,637.55	1,797.64

		(g) Investments accounted for using the equity method	5,314.68	5,312.85
		(h) Financial assets
		{i) Investments	30.74	30.74
		(ii) Other financial assets	479.34	1,047.55

		{i) Deferred tax assets (net)	503.32	501.73
		OJ Income tax assets {net)	3,033.95	2,020.33
		(k) Other non-current assets	869.65	1,175.17

			84,500.04	85.910.66

		II.CutTenl assets
		(a) Inventories	25,344,85	25,022,35

		(b) Financial assets
		{i) Trade receivables	44,000.97	50,773.61
		(ii) Cash and cash equivalents	10,344.67	9,614.49

		(iii) Bank balances other than {ii) above	4,385.25	4,533.96
		{iv) Other financial assets	12,884.44	19,614.82
		(c) Current lax assets (net)	4,296.32	3,803.72
			1 01 256.50	1 13 362.95


		Total Assets	1 85 756.54	1 99 273.61


		EQUITY AND LIABILITIES

		Equity
		(e) Equity share capital	2,244 .00	2,244.00

		(b) Other equity	95,496.69	89 680.83
			97,740.69	91 ,924.83
		LIABILITIES

		I. Non~urrent liabilities
		{a) Financial liabilities
		(i} Borrowings	2,269.33	11,741 .59

		{ii) Lease liabilities	2,475.71	3,229.12
		(b) Noncurrent provisions	5.631.72	5,466.95
		(c) Deferred lax liabilities (nel)		3.024.35
			3.217.02
			13,593.78	23.462.01

		II.Current liabilities

		(a) Financial liabilities
		{i) Borrowings	17,990.63	16.305.96
		(ii) Lease liabilities	1,610,09	1,664,11

		(iii) Trade payables
		~Total outstanding dues of micro and small enterprises	2,707.80	4,367.94
		·Total outstanding dues of creditors other than micro and small enterpris	35.339.24	38,066.53

		(iv) Other financial liabilities	4,457.64	4.564.79
		(b) Other current liabilities	6.807.20	14,624.95
		(c) Current provisions	2,346.85	2.595.91

		{d) Current tax liabilities (net)	3.162.62	1.696.58
			74 422.07	83,886.77
		Total Liabilities	88,015.85	1,07,348.78


		Total Equity and Liabilities	1,85156.54	1 99 273.61



		Place : Vallabh VidyanagarDate : 29 October, 2021


Cranes			Sugar Industry	Mining
	Rubber Industry	Power IndustryPlastic IndustryMarine IndustryGearing industries. Gearing economies.	Steel Industry

ELECON ENGINEERING COMPANY LIMITED, Anand- Sojitra Road, Vallabh Vidyanagar- 388120, Gujarat, India. Tel.: +91-2692-238701, 238702. Fax: +91-2692-227484. CIN L29100GJ1960PLC001082 [email protected] I www.elecon.com

ELECON ENGINEERING COMPANY LIMITED

CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30 SEPTEMBER 2021

(Amounts in INR Lakhs)

Particulars	Year ended		Year ended
	30 Sep 2021	30 Sep 2020	31 March 2021
	(Unaudited)	(Unaudited)	(Audited)
Cash flow from operating activities
Profit before tax	7,963.11	288.56	8,129.16
Adjuslff1ents for:
(i) Share of profit of associates	(49.75)	(130.38)	(187.39)
(ii) Depreciation and amortisation expense	2.460.03	2,634.73	5,211.23
(iii) Finance costs	2,519.03	3,116.25	5,980.63
(iv) (Gain)lloss on fair valuation of investment		1.68	(57.41)
(v) Loss on sold/discarded of property. plant and equipments (net)	169.96	(16.19)	16.90
(vi) Interest income	(97.65)	(123.40)	(220.96)
(vii) Dividend income			(0.02)
(viii) Bad debts written off	959.18		11,418.69
(ix) Unrealised exchange (gain)lloss	(39.89)	(166.13)	(527.62)
(x) Provision for other contract liabilities, warranty and others	460.06	106.94	506.05
(xi) lncrease/(reversal) of provison for onerous contract	(31.11)	16.61	145.78
(xii) Liabilities written back	(62.74)	(82.66)	(113.22)
(xii) Provision for doubtful debts	277.03	1,370.90
(xiii) Excess provision on doubtful debts written back			(7,362.77)
(xiv) Rent Income		(55.32)
	14,507.27	6,963.37	22,940.85
Working Capital Adjustments
Decrease/(increase) in trade receivables	5,516.07	13,422.01	6,499.66
Decrease in inventories	(322.50)	1,796.70	5,632.77
(lncrease)/decrease in financial assets	6,709.86	1,651.27	(3,551.77)
Decr~ase in other current and non-current assets	(413.08)	258.65	1,175.74
(Decrease )/increase in trade payables	(4,135.11)	(17,009.02)	(9,236.12)
Increase in provisions, other current and non-current liabilities	(6,393.04)	(2,025.80)	710.29
Increase/( decrease) in other financial liabilities	667.67	3,064.39	592.10

Cash generated from operations	14,157.35	8,321.57	24,763.72
Tax refund (net of taxes paid)	(1,053.24)	10.31	36.95
Net cash generated from operating activities (A)	13,104.11	8,331.88	24,802.66
Cash flow from investing activities
Payments for purchase of property, plant and equipment	(1,103.46)	(225.76)	(396.67)
Proceeds from sale of property, plant and equipment	276.13	52.12	134.79
Interest received	139.91	110.29	210.06
Dividend received			0.02
(Increase) in bank balances not considered as cash and cash equivalents (net)	695.17	(537.66)	(1,967.75)
Dividend received from associate
Proceeds from redemption of investments	47.92	44.33	44.51
Rent received	0.00	55.32	107.29
Net cash (used in) from investing activities (B)
	55.69	(501.56)	(1,867.75)

CIN L29100GJ1960PLC001D82 I [email protected] 1 www.elecon.com

(Amounts in INR Lakhs)

ELECON ENGINEERING COMPANY LIMITED

CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30 SEPTEMBER 2021

Particulars		Year ended	Year ended
	30 Sep 2021	30 Sep 2020	31 March 2020
	(Unaudited)	(Unaudited)	(Audited)
Cash flow from financing activities
Repayment of non current borrowings	(10,975.03)	(934.43)	(2,394.71)
Repayment of current borrowings (net) (Note 3)	3,235.20	(2,621.97)	(11,443.40)
Repayment against other financing arrangements	(515.14)	(458.20)	(944.03)
Finance cost paid	(3,355.74)	(2,941.25)	(5,576.13)
Dividend paid (including dividend distribution tax)	(454.87)		(13.71)
Principal payment of lease liabilities	(364.04)	(235.55)	(676.51)
Net cash (used in) financing activities (C)	(12,429.62)	(7,191.40)	(21 ,048.49)
Net increase in cash and cash equivalents (A+B+C)	730.17	638.92	1,886.43
Cash and cash equivalents at 1 April	9,614.49	7,728.06	7,728.06
Cash and cash equivalents as at Balance Sheet date	10,344.67	8,366.98	9,614.49
Components of cash and cash equivalents :·Cash on hand	0.26	0.26	0.26

Notes:

Cash and cash equivalents includes bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
The above Statement of Cash Flow has been prepared under the "Indirect Method" as set out in Indian Accounting Standard (lnd AS 7) - Statement of Cash Flows.
In accordance with para 22 of lnd AS 7 - Statement of Cash Flows, cash flows from current borrowings have been reported on net basis since these being working capital facilities, the maturities are short.

Place : Vallabh Vidyanagar Date : 29 October, 2021

Balances with banks -In current accounts Cheques on hand

10,344.41 10,344.67

Prayasvln Patel Chairman & Managing Director DIN : 00037394

8,366.72 9,593.23

8,366.98 9,614.49

21.00

CNK & Associates LLP

Chartereq Accountants

Narain Chamben, 5th Floor, M. G. Road, Vile Parle (E), Mum.bai - 400 057 . Tel. : +91-22-6457 7600 • Fax : +91-22-2612 8580

}a•h Chambers, 3rd floor, 7-A, Sir P.M. Road, Fort, Muntbai- 400 001. Tel.: +91-22-6623 0600/2266 1819 • Fax: +91-22-2261 5814

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

TO THE BOARD OF DIRECTORS OF ELECON ENGINEERING COMPANY LIMITED

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Elecon Engineering Company Limited (hereinafter referred to as the 'the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), its share of the net profit after tax and total comprehensive income of its associate for the quarter ended September 30, 2021 and year to date result for the period April1, 2021 to September 30, 2021 ("The Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulat,ions, 2015, as amended ("Listing Regulations").
1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34, ("lnd AS 34") "Interim Financial Reporting" 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. Our responsibility is to express a conclusion on the Statement based on our review.
1. We conducted our review of the Statement 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 of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards 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.

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, to the extent applicable. . .:-

1. The Statement includes the results of the entities as mentioned in the Annexure.
1. Based on our review conducted and procedures performed stated in paragraph 3 above, and based on the consideration of review reports of Subsidiaries' auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid I Indian Accounting Standards ('lnd AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

6. Other Matters

a) The Statement includes the Group's share of net profit after tax of INR 20.78 Lakhs and INR 49.7 4 Lakhs, total comprehensive income of INR 20.78 Lakhs and INR 49.74 Lakhs for the quarter ended September 30, 2021 and for the period from April 1, 2021 to September 30, 2021, respectively, as considered in the Statement, in respect of an Associate, whose financial results have, not been reviewed by us. These financial results have been reviewed by other auditors whose report has been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this Associate, is based solely on the report of the other auditors and the procedures performed by us as stated in paragraph 3 above;
b) The Statement includes the financial information of one subsidiary (including its wholly owned ·Step-down subsidiaries) which has not been reviewed by us, whose financial results reflect total assets of INR 33,028.85 lakhs as on September 30, 2021, total revenue of INR 7,096.89 lakhs and INR 14,139.38 lakhs, total net profit after tax of INR 1,330.08 lakhs and INR 2,064.47 lakhs, total other comprehensive income of INR 1,334.51 and INR 2,003.92 lakhs for the quarter ended September 30, 2021 and for the period from April 1, 2021 to September 30, 2021, respectively, and cash outflows (net) of INR 723.67 lakhs for the period from April 1, 2021 to September 30, 2021, as considered in the Unaudited Consolidated Financial Results. The statement also includes the Group's share of net profit after tax of INR Nil and INR Nil and total other comprehensive income of INR Nil and INR Nil for the quarter ended September 30, 2021 and for the period from April 1, 2021 to September 30, 2021, respectively as considered in the consolidated unaudited financial results in respect of 3 associates based on their financial information which have not been reviewed. According to the information and explanation given to us by Holding Company's management these interim financial information are not material to the group.

c) The audited financial results for the year ended March 31, 2021 and unaudited financial results for ~he quarter June 30, 2021 and half year ended September 30, 2020, included in these financial results are based on the previously issued results of the Group prepared in accordance with the Indian Accounting Standards ("lnd AS") prescribed under Section 133 of Companies Act, 2013. Those audited/unaudited financial results prepared under lnd AS were audited/reviewed by the predecessor auditor, whose audit report dated May 27, 2021 expressed an unmodified opinion on those financial results and unmodified limited review reports dated August 06, 2021 and November 06, 2020 respectively.

Our conclusion on the Statement is not modified in respect of the matters in (a) and (b) above.

For C N K & Associates LLP Chartered Accountants Firm Registrption Number: 101961W I W-100036

~Jf.J;. Himanshu Kishnadwala r'

Partner Membership No. 37391 UDIN: 21037391AAAAIW6460

Place: Vallabh Vidyanagar Date: October 29, 2021

Annexure 1

Details of entities included in Consolidated unaudited financial results of the Elecon Engineering Company Limited

Sr.	Name of the Entity	Relationshl2_
1.	Radicon Transmission UK Limited (including its following whollyowned step-down subsidiaries)a)Benzlers Systems ABb)AB BenzlersC)· Radicon Drive Systems Inc.d)Benzler Transmission A.S.e)Benzler TBA B.V.Benzler Antriebstechnik GmBHf)g)OY Benzler ABh} Benzlers ltalia s.r.l	Wholly Owned Subsidiary
2.	Elecon Singapore Pte. Limited	Wholly Owned Subsidiary
3.	Elecon Middle East FZE	Wholly Owned Subsidiary
4.	Eimco (Eiecon) India Limited	Associate
5.	Elecon Eng. (Suzhou) Co. Limited*	Associate
6.	Elecon Africa P!}'. Limited*	Associate
7.	Elecon Australia Pty. Limited*	Associate

*Company is in the process of obtaining approval from Reserve Bank of India for their liquidation.

AI assistant

Elecon Engineering Co.Ltd. Interim / Quarterly Report 2021

63235_rns_2021-10-29_eae18fa2-9a20-485b-b86a-76cf50d58445.pdf

29th October, 2021