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Elecon Engineering Co.Ltd. Annual Report 2021
63235_rns_2021-05-28_0d9c6c3f-db8f-425c-ae4f-db63cd57ed1c.pdf
Annual Report
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28th May, 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 Intimation under Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/ Madam,
With reference to the subject referred regulations, we would like to inform you that the Extract of Audited Financial Results for the quarter & financial year ended on 31st March, 2021 has been published in The Business Standard Newspaper in English & Jay Hind Newspaper in Gujarati on 28th May, 2021.
A copy of the said newspaper advertisement is enclosed for your reference & record.
Thanking you,
Yours faithfully, , . •. For Elecon Engineering Company Limited,
Bharti Isarani Company Secretary & Compliance Officer
Encl.: As above
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] I www.elecon.com
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JAI HIND - AHMEDABAD
ધ ફેડરેશન ઓફ રીટેલ ટ્રેડર્સ વેલફેર એસો. દ્વારા અંતે રીટ પીટીશન
.'દેશમાં કોરોનાની બીજી લહેરમાં લોકડાઉનનો આમનો કરી રહેલા . અપર એમ કરી મુંબઈ કાઈકોર્ટમાં એક પીટીશન દાખલ કરીને તેઓનેવ્યાપાર ધંધા બંધ રહેતા જે મોટી નાણાકીય નુકશાની તથા બેરોજગારીનીસ્થિતિનો સામનો કરવો પડી રહ્યો છે તેમાં હવે વિજળી, પાણીના દરમાં રાહત તથા કેન્દ્ર તથા રાજયોના જે લાયસન્સ પરમીટ કી છે તે ચોક્કસ ..................................... સમયનો કર્યા બાદ કોરોનાની બીજી લહેરમાં મહારાષ્ટ્ર, રાજસ્થાન, ગુજરાત, છતીસગઢ સહિતના રાજયોમાં દુકાનો ખુલી રાખી આધાર કરવાનો સમય અત્યંત મર્યાદીત રોજના ૪-૫ કલાક કરવામાં આવ્યો છે અને હોટલ.
.આપાર ચલાવવો પડી રહ્યો છે. છે. મહારાષ્ટ્ર સહિતના રાજયોનું દ્રષ્ટાંત આ
બેન્કના હપ્તા-વ્યાજ ચડે છેઃ ટર્નઓવર ઠપ્પ થતા મોટો કટકોઃ રાહતની માંગ એકલા
.ઉપરાંત રોજગાર પર ફટકો પડતા તેઓના ગ્રાહકોની અવસ્જવર ંકે આ માસના અંત સુધી ચાલુ રહેનારા નિખ્યાંતોના કારણે એપ્રીલ-મતથા ખરીદી પણ અત્યંત મર્યાદીત રહી છે અને રંદિલ વ્યાપારને મોટી ં માસના સમયમાં જ ૫૫ દીવસ સુધી વ્યાપાર, રોજગાર તથા બરાદા વલ અત્યંત મંચારાત રહ્ય છે અને રાટલ વ્યાપારને મોટાનુકશાની ગઈ છે, ધ ક્રેડરેશન ઓફ રીટેલ ટ્રેડર્સ વેલકેર એસો. દ્વારા મુંબઈહાઈકોર્ટમાં એક અરજી દાખલ કરીને દરેક નાના વ્યાપારી મોટી આર્થિક
મહારાષ્ટ્રમાં જઃ બે માસમાં નાના વ્યાપારી વર્ગને રૂા.૭૦૦૦૦ કરોડનું નુકશાન માસના સમયમાં જ પેપ દીવસ સુધી વ્યાપાર, રોજગાર બંધ રહ્યા છેઅથવા તો મર્યાદીત સમય સુધી જ ચાલું રાખી શકાયા છે અને એકલા મહારાષ્ટ્રમાં જ ૧૩ લાખ દુકાનોને અંદાર્જે રૂા.૭૦૦૦૦ કરોડનું નુકશાન
ાના કેડરેશન ડારા કહેવાય છે
આથી મહાપાલિકા કે પાલિકાએ ચોકઠ્ઠર સમય માટે લાયસન્સ કી. પ્રોપર્ટી ટેક્ષ અને અન્ય પરવાના ફી માફ કરવા જોઈએ. વિજળીના દરોમાં ૫૦% રાહત આપવી હોઈએ. વ્યાપાર ધંધા બંધ હોવા છતા તેઓને ભાડા. .બેન્કના હમા, વ્યાજ, કર્મચારીઓના પગાર તથા અન્ય ખર્ચ યથાવત રહ્યા છે. આ સ્થિતિમાં જો અગાઉથી જ લાખો નાના વેપારીવર્ગને તેમના ધંધાબંધ કરવાની ફરજ પડી છે અને મોટી સંખ્યામાં અર્ધ બેકાર જેવી હાલતમાં બેચ કરવાના ફરજ પડા છે અને નાટા સખ્યામાં એવે નાટા જે સે સામાનોછે. મોલ તથા મોટા શોપીંગ સેન્ટરમાં ઉંચા ભાડા વિ. પણ હવે પોપાય તેવારહ્યા નથી તેવી મધ્યમ અને મોટા શોપીંગને નાના ધિરાણમાં વધુ ૩૦% ની .....................................
COM
$m -$
બ્લેક કંગસની દવા દિલ્હી હાઇકોર્ટે ડ્યૂટી ફી જાહેર કરી લોકોના જીવ બચાવવા જરૂરી
મુદલ્હી,તા.૨૭દિલ્હી હાઇકોર્ટે બ્લેક કંગસનીદવાને ડ્યૂટી કી જાહેર કરી દીધી સાથે ડના પશુદારમાં સરકાર આપ્યો કેકેન્દ્રને આદેશને આદેશ આપ્યો કેઈજેક્શન ખરીદવા માટે વિશ્વમાં કોઇ રોકી રહ્યું નથી. તેથી જ્યદેશમાં દવાની અછત છે, ત્ય मेडिसिननी આयातने उपत्री ગાલન મા આસાર કર્યુંકરવી જોઇએ. કરાણ કે અત્યલોકોના જીવ બચાવવા બહુ જર 访
દિલ્લી હાઈકોર્ટમાં ગુરુવારે બ કંગસની દવાઓને ઇમ્પોર્ટ કર ર નર્સના કનાઓને છ-નાટ કરમામલે સુનાવલી થઇ હતી. જેહાઇકોર્ટે કહ્યું કે દવાની સપ્લઓછી છે અને ઇલાજ જરૂરી દ ત્યારે કેન્દ્ર સરકારે એક નિશ્રિસમયમર્યાદા સુધી દવાને કસ ડ્યાટી અને અન્ય ટેક્સમાંથી દ .આપવા અંગે ગંભીરતાથી વિચાજોઇએ. હાઇકોર્ટે બ્લેક કંગસની દ
લોઇકાટ બ્લક રૂગસના દકહ્યું કે જ્યાં સુધી કેન્દ્ર આ અંકહ્યું કે જ્યાં સુધી કેન્દ્ર આ અંનિર્ણય લેતું નથી, ત્યાં સુધી કોર્ટઆદેશ હેઠળ દવા ડ્યૂટી ક્રી ઇમ્પે કરી શકાય છે. કારણ કે પીડિત કર્સ શકાય છે. કારસ કે પાકારલોકોને બચાવવા માટે આ પગલુંકોઇ પણ વ્યક્તિ બ્લેક ફંગસની
દવા મંગાવી શકે તે અંગે કોર્ટે કહ્યુંદવા મંગાવી શકે તે અંગે કોર્ટે કહ્યુંકે જો કોઇ વ્યક્તિ દવા ઇમ્પોર્ટ કરે છે તો તેના માટે તેણે મૂળ કિંમત છે તો તેના મોટ તેને મૂન કરતાચુકવ્યા વિના એક બોન્ડ આપવોપડશે. કોર્ટે અરજદારને કહ્યું કે વિશ્વમાં દેયાય ا دىدا દવા ખરીદતા કોઇ રોકી રહ્યું નથી
પેટોલ અને ડીઝલની કિંમતમાં વધારો
– ૧૬૦૦૦૦૦૦વ્યુ દિલ્હી,તા.૨૭કોરોનાના કપરા કાળમાં મધ્મવર્ગને વધુ એક મોંઘવારીનોમાર.પેટ્રોલ ડીઝલના ભાવમાં ફરીએકવાર વધારો થયો છે. આજે પેટોલના ભાવમાં ૨૩ પૈસા અને ડીઝલના ભાવમાં ૩૦ પૈસાનો વધારો થયો છે. રાજકોટ, અમદાવાદ અને વડોદરા જેવા શહેરોમાં પેટ્રોલનો ભાવ ૯૦ રૂપિયા ૭૦ પૈસાએ પહોંચ્યો છે. તો ડીઝલનો ભાવ ૯૧ રૂપિયા ૧૦ પૈસા પર પહોંચ્યો
મે મહિનામાં બા કરાયેલા ભાવ વધારાને લીટર પેટોલના ભા રૂપિયાને ૮૧ પૈસાનો ડિઝલમાં ત્રણ રૂપિય પૈસાનો વધારો થયો છે
ભારતને ઇઝરા પાસેથી મળશે સા
કિલર હેરોન ડ રચીન સહિત પાકિસ્૪૨ રામમાં ૧૪ નજર રાખવા માટે લસેનાને ઇઝરાયેલનો હેર આવનાર સમયમાં ભારતને ૪ ડ્રોન મળવિશેષતા એ છે કેતે બે દિ ઉડાન ભરી શકે છે. અ ૧૦ હજાર મીટરની ઉંચા લે વામાં સક્ષમ છે. ભ .આવનાર ૪ ડ્રોન વધારેછે અને એન્ટી જામિંગ પૂર્વની એડિશન કરતાં થ છે.આ ડ્રોન પીએમ આ ગેવાની હેઠળની દારાસંરક્ષણ દળને વિસ્તૃત ઇમરજન્શી આર્થિ હેઠળ કરવામાં આવી છે.સૈન્યને ઇમરજનશીમદદ માટે ૫૦૦ કરોડ રુ આવ્યો છે જેનો વિષયોગ અને સિસટ્સ ખરીદવા
$2133$
DE O
COL
| ELECON ENGINEERING COMPANY LIMIT | |
|---|---|
| GELECON | CIN: L29100GJ1960PLC001082Regd. Office: Anand-Sojitra Road, Vallabh Vidyanagar - 388 120, Gujarat |
| Ph: (02692) 237016 Fax: (02692) 227020Email: investor [email protected] Website: www.elecon.com |
EXTRACT OF STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED ON 31H MARCH, 2021 (₹ in Lakhs)
| Standalone | Consolidated | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| κ. | Sr. | Quarter Ended | Year Ended | Quarter Ended | Year Ended | |||||
| No | Particulars | 31-03-2021 | 31-03-2020 | 31-03-2021 31-03-2020 | 31-03-2021 | 31-03-2020 31-03-2021 | 31-03-2020 | |||
| Audited | Audited | Audited | Audited | Audited | Audited | Audited | Audited | |||
| Total Income from Operations | 27586.62 | 20329.76 | 80715.43 | 84504.40 | 35111.56 | 26905.90 | 105043.38 | 109631.44 | ||
| Net Profit / (Loss) for the period (before Taxes, Exceptional and/or Extraordinary items) | 3718.02 | (1363.40) | 5828.18 | 127.79 | 4713.31 | (579.49) | 8129.16 | 1951.04 | ||
| 涛 | Net Profit / (Loss) for the period before Tax (after Exceptional and/or Extraordinary items) | 3718.02 | (1363.40) | 5828.18 | 127.79 | 4713.31 | (579.49) | 8129.16 | 1951.04 | |
| વા | 4 Net Profit / (Loss) for the period after Tax (after Exceptional and/or Extraordinary items) | 2242.79 | 6223.12 | 3626.49 | 7241.89 | 3162.51 | 7020.48 | 5763.10 | 8970.15 | |
| 4Ì. | 5 Total Comprehensive Income for the period | |||||||||
| ય | [Comprising Profit / (Loss) for the period (after tax) and other Comprehensive Income (after tax)] | 2341.32 | 6211.98 | 3710.61 | 7222.68 | 3614.39 | 6907.94 | 6505.45 | 8883.48 | |
| 6 Equity Share Capital, Paid-up Equity Share Capital (Face Value of the share ₹ 2/-) | 2244.00 | 2244.00 | 2244.00 | 2244.00 | 2244.00 | 2244.00 | 2244.00 | 2244.00 | ||
| let. | Debt Capital # | $\sim$ | 9571.43 | 10000.00 | 9571.43 | 10000.00 | ||||
| H. | 8 Other Equity (including Debenture Redemption Reserves) | × | 79692.54 | 75981.93 | ٠ | 89680.83 | 83175.38 | |||
| S¢ | 9 Debenture Redemption Reserve | $\sim$ | 2500.00 | 2500.00 | $\overline{\phantom{a}}$ | ٠ | 2500.00 | 2500.00 | ||
| 10 | Earnings Per Share (of ₹ 2/- each) (for continuing and discontinuing operations): | |||||||||
| (a) Basic | 2.00 | 5.54 | 3.23 | 6.45 | 2.82 | 6.25 | 5.14 | 7.99 | ||
| u | (b) Diluted | 2.00 | 5.54 | 3.23 | 6.45 | 2.82 | 6.25 | 5.14 | 7.99 | |
| Debt Equity Ratio | $\sim$ | 0.31 | 0.50 | ٠ | 0.36 | 0.57 | ||||
| 12 Debt Service Coverage Ratio | ۰ | s. | 1.07 | 1.51 | ۰ | $\sim$ | 1.02 | 1.55 | ||
| 13 Interest Service Coverage Ratio | × | $\sim$ | 2.25 | 1.02 | ×. | $\sim$ | 2.52 | 1.29 | ||
| $-14.41 - 10.00$ and $-11.6$ $-10.1$ and $-1$ |
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The above is an extract of the detailed format of Quarterly and Annual Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Other Disclosure Requirements) Requiations, 2015. The full format of the Financial Results are available on the websites of the Bombay Stock Exchange (www.bseindia.com), the National Stock Exchange of India Ltd. (www.nseindia.com) and on Company's website www.elecon.com
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The above audited fina nocial results for the quarter and year ended 31" March 2021 were reviewed and recommonded by the Audit Committee and approved by the Board of Directors at their respective meetings held on 27th May, 2021. The statutory auditors have expressed an unmodified opinion on these standalone and consolidated financial results. The report has been filed with the stock exchange
media available on the companies website. The stratutory and is available on the companies website. The indian Parliament has approved the Code on Social Security, 2020 ("Code") which may likely impact the contributions
of this option by the Company
b) At the time of transition to Indian Accounting Standards (Ind AS) with effect from 1" April, 2015, the Company had recognised the fair value of its land parcels in the books of account and had also recognised by At the During the year ended 31" March 2020, the Company had reassessed the expected manner of recovery of the carrying value of all land parcels and determined that a number of such land parcels would not be delinked from the bu land parcels in future, these would only be disposed off along with the business and in a slump sale arrangement thereby resulting in no temporary difference between the accounting position and position as per tax laws upon such future disposal
of specification induced subspace.Sis the above, deferred tax liability aggregating to INR 6,118 lakhs recognised on such land parcels at the time of transition to Ind AS, has been reversed in the Statement of Profit and
31 March, 2020. Thatch, 2020. The Company continues to monitor the impact of COVID-19 pandemic and consequent lock down across the country, the Company's operations have resumed post temporary suspension, as per the guid
massary 7. Previous period figures have been regrouped / reclassified wherever ne
Additional disclosure under Regulation 52 (4) and other regulation of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Regulations") Details disclosed as on 31" March, 2021 Particulars
| (a) Credit ratings and change in credit rating (if any) | All the NCDs rated as BWR A minus (Outlook- Stable) by Brickwork Ratings India Private Limited.Credit rating of said NCDs were reaffirmed at BWR A- (pronounced BWR A Minus) and outlook has been revised to "Negative" from "Stable". | |
|---|---|---|
| (b) Asset cover available, in case of non convertible debt securities; | 1.71 times | |
| $\langle c \rangle$ | Debt Equity Ratio (for financial year ended on 31" March, 2021) | 0.31 times |
| (d) Previous due date for the payment of interest / repayment of principal of non-convertible debt securities payable and whether the same has been paid or not. | Previous Due date for payment of Interest and repayment of principal on NCDs for the period from 1" October, 2020 to 31" March, 2021:-Previous Due date for payment of Interest:- 1" November, 2020 and 1" February, 2021.Re-payment of Principal on NCDs for Series I:- 1" November, 2020 and 1" February, 2021.Due date for payment of Redemption Premium on instalment due for Series k-1" November, 2020 and 1" February, 2021.All above said payments were made by the Company on/before the due date. | |
| (e) Next due date for payment of interest/principal alongwith the amount of interestand the redemption amount. | Next due date for payment of interest on NCDs 1" April, 2021 to 30" September, 2021:-1" May, 2021 (as on date of this disclosure, the same has been paid by due date) and 1" August, 2021 amounting to Rs. 2,88,75,073/- andRs. 2.94.12.952/- respectively.Next due date for Re-payment of Principal on NCDs as under for Series I:-1" May, 2021 (as on date of this disclosure, the same has been paid by due date) of Rs.1,42,85,714/- and 1" August 2020 of Rs.1,42,85,714/-Next due date for payment of Redemption Premium on instalment due for Series I:-1" May, 2021 (as on date of this disclosure, the same has been paid by due date) of Rs. 1,42,999/- and 1" August, 2021 of Rs. 1,74,692/- | |
| (0) | Debt Service Coverage Ratio | 1.07 times |
| (q) | Interest Service Coverage Ratio | 2.25 times |
| (h) | O/s redeemable preference shares | Not Applicable |
| (1) | Capital Redemption Reserve/Debenture Redemption Reserve | Debenture Redemption Reserve:- Rs. 2.500.00 Lakhs for the year ended 31st March, 2019 & from the year ended 31" March, 2020.additional Debenture Redemption Reserve not required to be created pursuant to the amendment of the Companies (Share Capital anddebentures) Amendment Rules, 2019 dated 16° August, 2019 as the said NCDs are listed and privately placed. Hence, same is not createdfor financial year ended 31" March, 2021. |
| (i) | Net worth | Rs. 81,936.54 Lakhs |
| (k) | Net profit after tax | Rs. 3,626.49 Lakhs (excl. OCI) |
| (1) | Earnings Per Share | Basic EPS before and after extraordinary items, net of tax expenses (not annualized) is Rs. 3.23 per shareDiluted EPS before and after extraordinary items, net of tax expenses (not annualized) is Rs. 3.23 per share |
| The Extent and Security created for NCDs | Specific immovable property of the Company and one of its Promoter Company ; Residual charge over current and fixed assetsof the Company; Corporate Guarantee from one of the Promoter Company. | |
| Place: Vallabh VidyanagarDate: 27 th May, 2021 | For and on behalf of Board of Directors,Prayasvin B. PatelChairman & Managing DirectorDIN: 00037394 |
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| ELECONGEARING THE FUTURE | CIN: L29100GJ1960PLC001082Ph: (02692) 237016 Fax: (02692) 227020 | ELECON ENGINEERING COMPANY LIMITEDRegd. Office: Anand-Sojitra Road, Vallabh Vidyanagar - 388 120, Gujarat.Email: [email protected] Website: www.elecon.com | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| EXTRACT OF STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED ON 31" MARCH, 2021 | (< in Lakhs) | ||||||||||
| Standalone | Consolidated | ||||||||||
| Sr.No. | Particulars | Quarter Ended | Year Ended | Quarter Ended31-03-2021 31-03-2020 31-03-2021 31-03-2020 31-03-2021 31-03-2020 31-03-2021 31-03-2020 | Year Ended | ||||||
| Audited | Audited | Audited | Audited | Audited | Audited | Audited | Audited | ||||
| $\frac{1}{2}$ | Total Income from Operations | 27586.62 | 20329.76 | 80715.43 | 84504.40 | 35111.56 | 26905.90 | 105043.38 | 109631.44 | ||
| 2 Net Profit / (Loss) for the period (before Taxes, Exceptional and/or Extraordinary items) | 3718.02 | (1363.40)(1363.40) | 5828.18 | 127.79 | 4713.31 | (579.49) | 8129.16 | 1951.041951.04 | |||
| 3 Net Profit / (Loss) for the period before Tax (after Exceptional and/or Extraordinary items)4 Net Profit / (Loss) for the period after Tax (after Exceptional and/or Extraordinary items) | 3718.022242.79 | 6223.12 | 5828.183626.49 | 127.797241.89 | 4713.313162.51 | (579.49)7020.48 | 8129.165763.10 | 8970.15 | |||
| 5 Total Comprehensive Income for the period | |||||||||||
| [Comprising Profit / (Loss) for the period (after tax) and other Comprehensive Income (after tax)]6 Equity Share Capital, Paid-up Equity Share Capital (Face Value of the share ₹ 2/-) | 2341.322244.00 | 6211.982244.00 | 3710.612244.00 | 7222.682244.00 | 3614.392244.00 | 6907.942244.00 | 6505.452244.00 | 8883.482244.00 | |||
| 7 Debt Capital # | 9571.43 | 10000.00 | 9571.43 | 10000.00 | |||||||
| 8 Other Equity (including Debenture Redemption Reserves) | 79692.54 | 75981.93 | × | 89680.83 | 83175.38 | ||||||
| 9 Debenture Redemption Reserve | × | 2500.00 | 2500.00 | $\overline{\phantom{a}}$ | 2500.00 | 2500.00 | |||||
| 10 Earnings Per Share (of ₹ 2/- each) (for continuing and discontinuing operations):(a) Basic | 2.00 | 5.54 | 3.23 | 6.45 | 2.82 | 6.25 | 5.14 | 7.99 | |||
| (b) Diluted | 2.00 | 5.54 | 3.23 | 6.45 | 2.82 | 6.25 | 5.14 | 7.99 | |||
| 11 | Debt Equity Ratio | × | 0.31 | 0.50 | $\overline{\phantom{a}}$ | 0.36 | 0.57 | ||||
| 12 Debt Service Coverage Ratio | ٠ | × | 1.07 | 1.51 | ۷ | 1.02 | 1.55 | ||||
| 13 Interest Service Coverage Ratio# Represents Non Convertible Debentures | z | 2.25 | 1.02 | ÷ | 2.52 | 1.29 | |||||
| the impact and its evaluation once the corresponding rules are notified and will give appropriate impact in the financial results in the period in which the Code becomes effective and the related rules are notified.4.a) On 20" September 2019, vide the Taxation Laws (Amendment) Ordinance 2019 ('the Ordinance'), the Government of India inserted Section 115BAA in the Income Tax Act, 1961 which provides domestic companiesa non-reversible option to pay corporate tax at reduced rates effective 1" April 2019, subject to certain conditions. Tax expenses for the year ended 31" March 2020 reflect the impact of expected adoption of thisoption by the Company basis Management's internal evaluation. Further, tax expenses for the quarter and year ended 31" March, 2021, reflect the impact arising from the change in the timing of expected adoptionof this option by the Company.b) At the time of transition to Indian Accounting Standards (Ind AS) with effect from 1" April, 2015, the Company had recognised the fair value of its land parcels in the books of account and had also recognisedcorresponding deferred tax liability considering the future tax obligation that would arise upon sale of land in the expected manner in future (sale of land parcels on a piecemeal basis, delinked from the business).During the year ended 31" March 2020, the Company had reassessed the expected manner of recovery of the carrying value of all land parcels and determined that a number of such land parcels would not bedelinked from the business as they either form an integral part of the business operations or are proximate to the factory premises. Consequently, the Company expects that in the event of disposal of most of theland parcels in future, these would only be disposed off along with the business and in a slump sale arrangement thereby resulting in no temporary difference between the accounting position and position as per taxlaws upon such future disposal.Basis the above, deferred tax liability aggregating to INR 6,118 lakhs recognised on such land parcels at the time of transition to Ind AS, has been reversed in the Statement of Profit and Loss during the year ended31" March, 2020.5. Subsequent to outbreak of COVID-19 pandemic and consequent lock down across the country, the Company's operations have resumed post temporary suspension, as per the guidelines and norms prescribed bythe Government authorities. The Company continues to monitor the impact of COVID-19 on its business including customers, supply-chain, employees/workers and logistics. The management has taken specificsteps by way of negotiating better payment terms for new orders and cost rationalization initiatives to manage the cash flows and liquidity position. The Company has considered internal and external information whileevaluating various estimates in relation to its financial results up to the date of its approval by the Board of Directors and has not identified any material impact on the carrying value of assets, liabilities or provisioFurther impact of the COVID-19 pandemic, if any, may be different from estimated as at the date of approval of these financial results and the Company believes that no precise estimation can be made aboutthe actual impact of the pandemic on the overall economy, specific industry sectors and the Company itself at this stage but is closely monitoring the emerging situation.6. Board of directors recommended dividend of Rs. 0.40/- (20%) per equity share of Rs. 2/- each amounting to Rs. 448.80 Lakhs for the year 2020-21.7. Previous period figures have been regrouped / reclassified wherever necessary. | |||||||||||
| Additional disclosure under Regulation 52 (4) and other regulation of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Regulations")Particulars | Details disclosed as on 31" March, 2021 | ||||||||||
| (a) Credit ratings and change in credit rating (if any) | All the NCDs rated as BWR A minus (Outlook-Stable) by Brickwork Ratings India Private Limited. | ||||||||||
| Credit rating of said NCDs were reaffirmed at BWR A- (pronounced BWR A Minus) and outlook has been revised to "Negative" from "Stable". | |||||||||||
| (b) Asset cover available, in case of non convertible debt securities: | 1.71 times | ||||||||||
| (c) Debt Equity Ratio (for financial year ended on 31" March, 2021) | 0.31 times | ||||||||||
| (d) Previous due date for the payment of interest / repayment of principal of non-convertible debt securities payable and whether the same has been paid or not. | Previous Due date for payment of Interest:- 1" November, 2020 and 1" February, 2021. | Previous Due date for payment of Interest and repayment of principal on NCDs for the period from 1" October, 2020 to 31" March, 2021:- | |||||||||
| Re-payment of Principal on NCDs for Series I:- 1" November, 2020 and 1" February, 2021.Due date for payment of Redemption Premium on instalment due for Series I:- 1" November, 2020 and 1" February, 2021. | |||||||||||
| All above said payments were made by the Company on/before the due date. | |||||||||||
| (e) Next due date for payment of interest/principal alongwith the amount of interestand the redemption amount. | Next due date for payment of interest on NCDs 1" April, 2021 to 30" September, 2021:- | 1" May, 2021 (as on date of this disclosure, the same has been paid by due date) and 1" August, 2021 amounting to Rs. 2,88,75,073/- and | |||||||||
| Rs. 2,94,12,952/- respectively. | |||||||||||
| Next due date for Re-payment of Principal on NCDs as under for Series I:- | |||||||||||
| 1" May, 2021 (as on date of this disclosure, the same has been paid by due date) of Rs.1,42,85,714/- and 1" August 2020 of Rs.1,42,85,714/- | |||||||||||
| Next due date for payment of Redemption Premium on instalment due for Series I:- | |||||||||||
| 1.07 times | 1" May, 2021 (as on date of this disclosure, the same has been paid by due date) of Rs. 1,42,999/- and 1" August, 2021 of Rs. 1,74,692/- | ||||||||||
| (f) Debt Service Coverage Ratio(g) Interest Service Coverage Ratio | 2.25 times | ||||||||||
| (h) O/s redeemable preference shares | Not Applicable | ||||||||||
| (I) Capital Redemption Reserve/Debenture Redemption Reserve | for financial year ended 31" March, 2021. | Debenture Redemption Reserve:- Rs. 2,500.00 Lakhs for the year ended 31st March, 2019 & from the year ended 31" March, 2020,additional Debenture Redemption Reserve not required to be created pursuant to the amendment of the Companies (Share Capital anddebentures) Amendment Rules, 2019 dated 16" August, 2019 as the said NCDs are listed and privately placed. Hence, same is not created | |||||||||
| (j) Net worth | Rs. 81,936.54 Lakhs | ||||||||||
| (k) Net profit after tax | Rs. 3,626.49 Lakhs (excl. OCI)Basic EPS before and after extraordinary items, net of tax expenses (not annualized) is Rs. 3.23 per share | ||||||||||
| (I) Earnings Per Share | Diluted EPS before and after extraordinary items, net of tax expenses (not annualized) is Rs. 3.23 per share | ||||||||||
| The Extent and Security created for NCDs | Specific immovable property of the Company and one of its Promoter Company ; Residual charge over current and fixed assets | ||||||||||
| of the Company; Corporate Guarantee from one of the Promoter Company. | |||||||||||
| Place: Vallabh VidyanagarDate: 27" May, 2021 | For and on behalf of Board of Directors,Chairman & Managing Director | Prayasvin B. PatelDIN: 00037394 |
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