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Ester Industries Ltd. Audit Report / Information 2021
62215_rns_2021-05-18_195f1925-f511-45e0-8527-382f492c1324.pdf
Audit Report / Information
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Date: 18th May, 2021
| BSE Limited | National Stock Exchange of India Limited |
|---|---|
| Department of Corporate services | Exchange Plaza, |
| Phirojee Jeejeebhoy Towers | Plot no. C/1, G Block, |
| Dalal Street, Mumbai – 400023 | Bandra‐Kurla Complex, |
| Symbol : 500136 | Bandra (E), Mumbai – 400051 |
| Symbol : ESTER |
Dear Sir
Subject : 1) Outcome of the Board Meeting
- 2) Submission of financial results for quarter and year ended on 31st March, 2021
- 3) Intimation regarding recommendation of Dividend
- 4) Declaration regarding Auditor's Report with unmodified opinion
We wish to intimate you that a meeting of the Board of Directors of the Company was held on Tuesday, 18th May, 2021. The meeting was commenced at 07:01 PM and concluded at 07:45 PM. During the meeting, the Board, amongst other items of Agenda, approved the following matters:
-
- Approval of the Audited Financial Results for the quarter and year ended on 31st March, 2021
-
- Recommendation of final dividend of Rs. 1.90/‐ (Rs. One and Ninety Paisa only) per equity share for the year ended on 31st March 2021, subject to the approval of the shareholders of the Company in the forthcoming Annual General Meeting.
Pursuant to the requirement of Regulation 33 of SEBI (LODR) Regulation, 2015, we wish to submit the approved Audited Financial Results for the quarter and year ended on 31st March, 2021 along with Statutory Audit Report.
Declaration regarding Auditor's Report with unmodified opinion
Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby declare that Statutory Auditors of the Company have issued Auditor's Report with unmodified opinion on the Annual Audited Financial Results of the Company for the financial year ended on 31st March, 2021.
Please take the above on your record.
Thanking You
Yours Faithfully For Ester Industries Limited
Diwaker Dinesh Head‐Legal & Company Secretary Encls: As above
Walker Chandlok & Co LLP 21" Floor. DLF Square Jacaranda Marg, DLF Phase II Gurugram - 122 002 India T +91 124 4628099
F +91124 4628001
Independent Auditor's Report on Standalone Annual Financial Results of the Ester Industries Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)
To the Board of Directors of Ester Industries Limited
Opinion
-
- We have audited the accompanying standalone annual financial results ('the Statement') of Ester Industries Limited ('the Company') for the year ended 31 March 2021 , 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) ('Listing Regulations'), including relevant circulars issued by the SEBI from time to time.
-
- In our opinion and to the best of our information and according to the explanations given to us, the Statement:
- (i) presents financial results in accordance with the requirements of Regulation 33 of the Listing Regulations, and
- (ii) gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued thereunder, and other accounting principles generally accepted in India, of the standalone net profit after tax and other comprehensive income and other financial information of the Company for the year ended 31 March 2021 .
Basis for Opinion
- We conducted our audit in accordance with the Standards on Auditing ('SAs') specified under section 143(10) of the Act. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Statement section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ('the ICAI') together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.
W-Clwldck&CoUP ia~wlth initlld li.iility wtth ldentitlcallion nunmr MC. 2085 mnd its regi-ollict .i L-41 Conna.ght Cin:us. Nft Oelhi, 110001, Ind•
Walker Chandiok &.Co LLP
Independent Auditor's Report on St11nd1lon1 Annu1I Fln1ncl1I R11ulll of the Eater Industries Limited Pursuant to the Regul1tlon 33 of the SEBI (Llatlng Obllg1tlona ind Dlacloaure Requlremenll) Regulations, 2015 (H amended)
Responslblllttea of Management 1nd Thott Charged with Govem1nce for th• Slltement
-
- This Statement has been prepared on the basis of the standalone annual audited financial statements and has been approved by the Company's Board of Directora. The Company's Board of Directors is responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information of the Company In accordance with the accounting principles generally accepted in India, including Ind AS prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that gives a true and fair view and is free from material misstatement, whether due to fraud or error.
-
- In preparing the Statement, the Board of Directors is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
-
- The Board of Directors is also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Statement
-
- Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing, specified under section 143(10) of the Act, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.
-
- As part ,of an audit in accordance with the Standards on Auditing, we exercise professional judgment and maintain .professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Walker Chandiok &.Co LLP
Independent Auditor's Report on Standalone Annual Financial Results of the Ester Industries Limited PufSuant to the Regulation 33 of the SEBI (Listing Obllgatlons and Dlscloaure Requirements) Regulations, 2015 (as amended)
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the Company has in place adequate Internal financial controls with reference to financial statements and the operating effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management.
- Conclude on the appropriatehess of the management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
-
- We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
-
- We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matter
- The Statement includes the financial results for the quarter ended 31 March 2021, being the balancing figures between the audited figures in ~spect of the full financial year and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subject to limited review by us.
..
For Walker Chandiok & Co LLP Chartered Aocountants Firm Registration No.: 001076N/N500013
Nitin Toshntwal Partner Membership No. 507568 UDIN: 21507568AAAABZ5336
Place: F aridabad Date: 18 May 2021
a..t.HAec1 .....
Wilker Ch1ndlok & Co LLP 21" Floor, DLF Square Jacaranda Marg, DLF Phase II Gurugram - 122 002 India T •111 12A Ml28009 F •91 12A M128001
Independent Auditor'• Report on Conaolld•ted Annu•I Fln•ncl•I Reeulta of the Eeter lnduetrle• Limited Pursuant to the Regulation 33 of the SEBI (Lletlng Obllg•tlon• •nd Dlecloeure Requirement.) Regulation•, 2015 (as amended)
To the Board of Directors of Ester lnduatrle• Limited
Opinion
-
- w e have audited the accompanying consolidated annual financial results ('the Statement') of Ester Industries Limited ('the Holding Company') and its subsidiary (the Holding Company and its subsidiary together referred to as 'the Group'), for the year ended 31 March 2021 , attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'), including relevant circulars issued by the SEBI from time to time.
-
- In our opinion and to the best of our infonnation and according to the explanations given to us, the Statement:
- (i) includes the annual financial results of the entities listed in Annexure 1;
- (ii) presents financial results in accordance with the requirements of Regulation 33 of the Listing Regulations, and
- (iii) gives a true and fair view in confonnity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereunder, and other accounting principles generally accepted in India, of the consolidated net profit after tax and other comprehensive income and other financial infonnation of the Group for the year ended 31 March 2021.
Basis for Opinion
- We conducted our audit in accordance with the Standards on Auditing ('SAs') specified under section 143(10) of the Act Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Statement section of our report. We are independent of the Groupin accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ('the ICAI') together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the rules thereunder, and we have f\Miled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We _.; . .... ·~ a.liewe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.
(This space has been intentionally left blank)
~--- In. C11nlgirh, Chonrei, Gu!ugr•11. Hrdwillllod. . llolloM. Mii- . ,.,. Oof'j, Nolda and Pune
Wlllker Ctwlndiolc & Co LLP 11 regillllnld ""'" lim'ted U-ty with identiftc.tion numbef M C·20ll5 ""d Ito regill•Ald oftlai at L_.1 Conneught Clrru1, New Oe4hl, 1111001, India
ClwtwM'aar ..._.
Independent Auditor's Report on Consolldated Annual Flnanclal Results of the Ester Industries Limited Pursuant to the Regulation 33 of the SEBI (Listing Obllgatlon• and Dlscloaure Requirements) Regulations, 2015 (as amended)
Responslbllltles of Management and ThoH Charged with Governance for the Statement
-
- The Statement, which is the responsibility of the Holding Company'• management and has been approved by the Holding Company's Board of Directors, has been prepared on the basis of the consolidated annual audited financial statements. The Holding Company's Board of Directors ia responsible for the preparation and presentation of the Statement that gives a true and fair view of the consolidated net profit after tax and other comprehensive income, and other financial information of the Group in accordance with the accounting principles generally accepted in India, including the Ind AS prescribed under section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Holding Company's Board of Directors is also responsible for ensuring accuracy of records including financial information considered necessary for the preparation of the Statement. Further, in terms of the provisions of the Act, the respective Board of Directors of the companies included in the Group, are responsible for maintenance of adequate accounting records in accordance with the provisions_ of the Act, for safeguarding of the assets of the Group, and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively, for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results, that give a true and fair view and are free from material misstatement, whether due to fraud or error. These financial results have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.
-
- In preparing the Statement, the respective Board of Directors of the companies included in the Group, are responsible for assessing the ability of the Group, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting, unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
-
- The respective Board of Directors of the companies included in the Group, are responsible for overseeing the financial reporting process of the companies included in the Group.
Auditor's Responsibilities for the Audit of the Statement
-
- Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing, specified under section 143(10) of the Act, will always detect a material misstatement, when it exists. Misst:aternet'U can arise from fraud or error, and are considered material if, individually, or in the aggregate, they could rea&o1 lably be expected to influence the economic decisions of users taken on the basis of this Statement.
-
- As part of an audit in accordance with the Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design aAd perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and -.ppr~ to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fr~ud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, m1Srepresentations, or the override of internal control.
- Obtain ~ nding of internal control relevant to the audit in order to design audit procedures that are apprate in the carcumstances. Under section 143(3) (i) of the Act, we are also responsible for expressing our opinion ?O whether the Holding Company has adequate internal financial controls with reference to financial statements m place and the operating effectiveness of such controls.
Independent Auditor's Report on Consolidated Annual Financial Results of the Ester Industries Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management.
- Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group, to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial statements of the entities within the Groupto express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Statement, of which we are the independent auditors. For the other entities included in the Statement, which have been audited by the other auditors. such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
-
- We communicate with those charged with governance of the Holding Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
-
- We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
- 11 . We also performed procedures in accordance with SEBI Circular CIR/CFD/CMD1/44/2019 dated 29 March 2019, issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.
Olher Matter
- The Statement includes the consolidated financial results for the quarter ended 31 March 2021, being the balancing figures between the audited consolidated figures in respect of the full financial year and the published unaudited year-to-<iate consolidated figures up to the third quarter of the current financial year, which were subject to limited review by us.
For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No.: 001076N/N500013
Nltln Toshnlwal Partner Membership No. 507568 UDIN: 21507568AAAABX8152
Place : Faridabad Date : 18 May 2021
Walker Chandiok &.Co LLP
Independent Auditor's Report on Consolldated Annual Flnanclal Results of the Ester Industries Limited Pursuant to the Regulation 33 of the SEBI (Listing Obllgatlons and Disclosure Requirements) Regulations, 2015 (as amended)
Annexure 1
List of entity Included In the Statement
- Ester Filmtech Limited (Wholly-owned subsidiary)
ESTER INDUSTRIES LIJ\tlTED
Rei:d. Office : Sohan Nagar, P.O. Charubeta, Khatima - 262 308. Dist!. Udhamsingh Nagar ( llttarakhand)
CIN- L2411ll1Rl985PLC015063, Websit•: www.esterindustries.con1; Email: inv•[email protected]
Phone: (05?43) 250153-57; Fax: (05943) 250158 Statement of Audited Results for the quarter and year ended 31 March 2021
| tt in lacs) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Standalone results | Consolidated results | |||||||||
| Quarter ended | ended | Prt'ceding qmuter Corresponding qu:.rter Current Year ended Previous Yearended | ended | Quarter ended | Preceding quarterended | Current Yeairended | ||||
| Sr. No | Particu]ars | 31March2021 | 31 December 2020 | 31 March 2020 | 31 March 2021 | 31 March 2020 | 31 l\larch 2021 | 31 December 2020 | 31March2021 | |
| (Audited)(as explained in note41 | (llnaudited) | (Audited)(as explained in note 4) | (Audited) | (Audited) | (Audited)(as explsined innote41 | (lfnaudited) | (Audited) | |||
| I | Income | |||||||||
| a) | Re,·cnul! from operations | 29.703.31 | 25.565.05 | 25.387.39 | 99, 175.8& | 103.870.15 | 29,703.3 J | 25,565.05 | 9'1.175.&8 | |
| b) | Othtr income | 158.57 | 233.&7 | 265.23 | 797.&3 | 889.39 | 158.57 | 233.87 | 797.83 | |
| Total income (u+b) | 29,861.88 | 25,798.92 | 25,652.62 | 99,973.71 | 104,759.54 | 29,861.88 | 25,798.92 | 99,973.71 | ||
| 2 | Expenses | |||||||||
| a) | Cost of materials consumed | 17.728.19 | 14,012.21 | 13.960 31 | 51.712 37 | 61,353.4& | 17.718.19 | 14,012.21 | 51.712.37 | |
| b) | Changes in inventories of finished goods and work in progress | (1,206.75) | (97.03) | 432.24 | (661.47) | 970.30 | (l ,206 75) | (97.03) | (061.47) | |
| c) | Employee benefits expenses | 2,373.78 | l.490.24 | l,616.02 | 6,809.14 | 5,404.95 | 2.381.29 | 1,490.24 | 6,& 16.65 | |
| d) | Finance cost | 568.72 | 471.03 | 484.21 | 1,855.07 | 2,445.52 | 570.87 | 471.03 | 1.857.22 | |
| e} | Depreciation and amortisation expense | 873.45 | 884.60 | &87.64 | 3,522.32 | 3,527. 78 | 87-IA8 | &&4.60 | 3,523.35 | |
| f) | Other expenses | 4,930.35 | 4,634.79 | 4,294.56 | 17,738.43 | 17,200.87 | 5,068.73 | 4.772.48 | 18,186.15 | |
| Total expenses (a+b+c+d+e+f) | 25,267.74 | 21,395.84 | 21,674.98 | 80,975.86 | 90,902.90 | 25,416.81 | 21,533.53 | 81,.J3.U7 | ||
| 3 | Profit before tax | 4,594.14 | 4,403.08 | 3,977.IH | 18,997.85 | 13,856.64 | 4,445.07 | 4,265.39 | 18,539.44 | |
| 4 | Tax ~xpcnse | |||||||||
| - | ('urrl!nt tax | 1,116.14 | 1,130.34 | 855.42 | 4,881.55 | 3,01 l.&6 | 1.116.14 | 1.130.34 | 4.881.55 | |
| - | Defent!d tax expense (income) | &9.29 | (17.52) | (568.93) | (91.47) | 894.91 | 89.29 | (17.52} | (91.47) | |
| 5 | Net profit for the quarter I year (3-4) | 3,388.71 | 3,290.26 | 3,691.15 | 14,207.77 | 9,949.87 | 3,239.64 | 3,152.57 | 13,749.36 | |
| 6 | Other comprehensive income | |||||||||
| •) | Items that will uot be reclassified to profit and loss | |||||||||
| i) Actuarial {loss) /gain 011 remeasurement of defined benefit plan | (:ll.99) | 3.69 | (29.08) | (33.51) | (104.26) | (31.99) | '69 | (33.51) | ||
| ii) Income tax etlect | &.16 | (0 94) | 1.19 | 8.55 | 28.74 | 8.16 | (0.94J | 8.55 | ||
| Other comprehensive (loss)/ income for the quarter/year (a(i+ii)) | (23.83) | 2.75 | (27.89) | (24.96) | (75.52) | (23.83) | 2.75 | (24.96) | ||
| 7 | Total comprehensive income for the quarter/year (5+6) | 3,364.88 | 3,293.01 | 3,663.26 | 14,182.81 | 9,874.35 | 3,215.81 | 3,155.32 | 13,724.40 | |
| 8 | Paid-up equity share capital (face value of share ~ 5 ead1) | 4,169.69 | 4,169.69 | 4,169.69 | 4,169.69 | 4, 169.69 | 4.169.69 | -l,169.69 | 4,169.69 | |
| 9 | Olhcr equity | 47,-l90.63 | 36,643.57 | 47,032.22 | ||||||
| 10 | Earning per share (face value off 5 each) (net annualized) | |||||||||
| Basic EPS (in ~) | 4.06 | 3.95 | 4.43 | 17.04 | 11.93 | 3.88 | 3.78 | 16.49 | ||
| Diluted EPS (in ~) | 4.06 | 3.95 | 4.43 | 17.04 | 11.93 | 3.88 | 3.78 | 16.49 |
ESTER INDUSTRIES LIMITED
Regd. Office: Sohan Nagar, P.O. Charubeta, Khatima - 262 308. Dist!. lldhamsingh Nagar (llttarakhand) CIN - L2.tll lllR1985PLC015063, Website: www.esterindustries.com; Email: [email protected] Phone: (05943) 250153-57; Fax: (05943) 250158 Statement of Audited Results for the qua,.tel' and year ended 31 March 2021
Segment Wise Revenue, Results, Assets and Liabilities for the quarter and year ended 31March2021
| $(3 \in \mathbb{R})$ acs) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Standalone results | Consolidated results | ||||||||||
| Sr. No | Particulars | Quarter ended | Preceding quarterended | Corresponding quarterended | Current Year ended | Previous Yearended | Quarter ended | Preceding quarterended | Current Yearended | ||
| 31 March 2021 | 31 December 2020 | 31 March 2020 | 31 March 2021 | 31 March 2020 | 31 March 2021 | 31 December 2020 | 31 March 2021 | ||||
| (Audited) | (Unaudited) | (Audited) | (Audited) | (Audited) | (Audited) | (Unaudited) | (Audited) | ||||
| (as explained in note | (as explained in note 4) | (as explained in | |||||||||
| 4) | note 4) | ||||||||||
| Segment revenue | |||||||||||
| a) | Polyester chips and film | 21,885.06 | 19,431.66 | 20,944.14 | 78,676.35 | 87,792.22 | 21,885.07 | 19,431,66 | 78,676.35 | ||
| b) | Engineering plastic | 7,818.25 | 6.133.39 | 4,443.25 | 20,499.53 | 16,077.93 | 7,818.24 | 6,133.39 | 20,499.53 | ||
| Revenue from operations | 29,703.31 | 25,565.05 | 25,387,39 | 99,175.88 | 103,870.15 | 29,703.31 | 25,565.05 | 99,175.88 | |||
| 2 | Segment results | ||||||||||
| Profit before tax and interest | |||||||||||
| 3 1 | a) | Polyester chips and film | 5,103.06 | 5,232.95 | 5.655.57 | 23,243.65 | 21.036.97 | 4,956.14 | 5,095.26 | 22,787.39 | |
| b | Engineering plastic | 2,183.24 | 1,168.66 | 343.96 | 4.064.90 | 863.51 | 2,183.24 | 1,168.66 | 4,064.90 | ||
| Total | 7,286.30 | 6,401.61 | 5,999.53 | 27,308.55 | 21,900.48 | 7,139.38 | 6,263.92 | 26,852.29 | |||
| Less: | |||||||||||
| a) | Finance cost | 568.72 | 471.03 | 484.21 | 1,855.07 | 2,445.52 | 570.87 | 471.03 | 1,857.22 | ||
| $\mathbf{h}$ | Other un-allocable expenditure net off from un-allocable income | 2,123.44 | 1,527.50 | 1,537.68 | 6,455.63 | 5,598.32 | 2,123.44 | 1,527.50 | 6,455.63 | ||
| Profit before tax | 4,594.14 | 4.403.08 | 3,977.64 | 18,997.85 | 13,856.64 | 4,445.07 | 4,265.39 | 18,539.44 | |||
| 3 1 | Segment assets | ||||||||||
| a) | Polyester chips and film | 49,037.53 | 46,860.89 | 45,882.85 | 49,037.53 | 45,882.85 | 48.855.48 | 55, 148.94 | 48.855.48 | ||
| b) | Engineering plastic | 12,159.23 | 10,009.24 | 9,546.41 | 12,159.23 | 9,546.41 | 12,159.23 | 10,009.24 | 12, 159.23 | ||
| c) | Unallocated | 25,155,19 | 22,330.16 | 13,677.92 | 25,155.19 | 13,677.92 | 25,155.19 | 13,670.16 | 25,155.19 | ||
| Total | 86,351.95 | 79,200,29 | 69,107.18 | 86,351.95 | 69,107.18 | 86,169.90 | 78,828.34 | 86,169.90 | |||
| $\Delta$ | Segment liabilities | ||||||||||
| a) | Polyester chips & film | 5,817.72 | 5,456.96 | 5,254,48 | 5.817.72 | 5,254,48 | 6,094.08 | 5,458.33 | 6,094.08 | ||
| b) | Engineering plastic | 1,502.28 | 1,996,39 | 1,500.06$\circ$ | 1,502.28 | 1,500.06 | 1,502.28 | 1,996.39 | 1,502.28 | ||
| c) | Unallocated | 27,371.63 | 23,450.96 | 21,539.38 | 27,371.63 | 21,539.38 | 27,371,63 | 23,450.96 | 27,371.63 | ||
| Total | 34,691.63 | 30,904.31 | 28,293.92 | 34,691.63 | 28,293.92 | 34,967.99 | 30,905.68 | 34,967,99 |
NOTES:
I TI1e above results for tho quarter and yoar ended 31 March 2021 havo been reviewed by the Audit Committee and havo been approved by the Board of Directors at the meeting held on 18 May 2021 and have boen audited by the Statutory Auditors of the Company.
2 Durin~ the quarter ended ?10 September 2020, Ester Industries Limited ("the parent company") has fanned a wholly owned subsidiary Ester Filmtech Limited(" the Subsidiary Company"). Consequently the consolidated financial fesults han~ been prescnled fbr the quarter ended 31 March 202 t and 31 December 2020 and for the year ended 31 March 2021. In the absence of comparative number for year ended 31 March 2020, same have not been present~d in lhc consolidated financial results.
3 Previous period figures have been re-grouped I reclassified wherever necessaiy, to conform to current period's classification.
4 Figures for the quarter ended 3 l March 2021 and 31 March 2020 represents the balancing figures between the audited figures for the financial year and published year to date reviewed figures uµto the third quarter of the respt:ctivc financial year.
5 The Board of Directors at its meeting held on I 8 May 2021, has recommended final dividend oft 1.90/- per equity share for the year ondcd on 31 March 2021. subject to the approval of the shareholders of the Company in the fonhcoming Annual Goneral Meeting.
Place : Gurugram Date: 18 May 2021
Pradee Kumar Rustagi Executive Director & CFO
ESTER I!'!Dl'STRIES LJ:HJTED Regd. Office: Sohan Nagar, P.O. Charubeta, Khatima - 262 308. Distt. l;dhamsingh Nagar (Uttarakhand) ('IN - L2-U lll'R1985PLCOIS063. Website: w..w.esterindustries.com; Email: investorfa:ester.in Phone: (059.U) 250153-57; Fax: (05943) 250158 Statement of Assets and Liabilities as at 31 !\larch 2021
| (fin lacs) | ||||
|---|---|---|---|---|
| Standalone | Consolidated | |||
| Sr. | As at | As at | As at | |
| No | Particulars | 31 March 2021 | 31 March 2020 | 31 March 2021 |
| 1Audited) | (Audited\ | (Audited) | ||
| A | ASSETS | |||
| 1 | !"on-current assets | |||
| Property, plant and equipment | 37,378.52 | 35,875.93 | 37,389.67 | |
| Right to use asset | 209.21 | 305.26 | 209.21 | |
| Capital work-in-progress | 2,194.52 | 2,269.18 | 7,639.65 | |
| Intangible assets | 79.80 | 188.21 | 79.80 | |
| Financial assets | ||||
| Investments | 9.635.00 | - | - | |
| Loans | 756.73 | 734.72 | 756.73 | |
| Other financial assets | 23140 | 218.72 | 231.40 | |
| Income tax assets (net) | 319.96 | 319.97 | 319.96 | |
| Other non-current assets | 373.75 | 691.01 | 4.141.45 | |
| Sub total non-current assets | Sl,178.89 | 40,603.00 | 50,767.87 | |
| 2 | Current assets | |||
| Inventories | 13,664.26 | 11,036.84 | 13,664.26 | |
| financial assets | ||||
| Investments | 133.13 | 22.78 | 133.13 | |
| Trade receivables | 15, 116.20 | 12,124.69 | 15, 116.20 | |
| Cash and cash equivalents | 37.71 | 23.26 | 181.45 | |
| Other bank balances | 2,575.18 | 1,363.73 | 2,575 .18 | |
| Loans | 93.93 | 136.23 | 95.83 | |
| Other financial assets | 658.49 | 2,132.40 | 658.49 | |
| Other cunent assets | 2,894.16 | 1,664.25 | 2.977.49 | |
| Sub total current assets | 35,173.06 | 28,504.18 | 35,402.03 | |
| Total | 86,351.95 | 69,107.18 | 86,169.90 | |
| B | EQUITY AND LIABILITIES | |||
| 1 | Eguitv | |||
| Equity share capital | 4,169.69 | 4,169.69 | 4,169.69 | |
| Other equity | ||||
| Sub total equity | 47,490.63 | 36,643.5740,813.26 | 47,032.2251,201.91 | |
| Liabilities | 51,660.32 | |||
| 2 | Non - current liabilities | |||
| Financial liabilities | ||||
| Borro\vings | 9,938.52 | 5,565.76 | 9,938.52 | |
| Other financial liabilities | - | - | - | |
| Provisions | 1,066.12 | 993.55 | l,066.12 | |
| Deferred tax liabilities (neti | 3, 154.68 | 3.16810 | 3.154.68 | |
| Other non-current liabilities | 2,280.43 | 2,552.40 | 2,280.43 | |
| Sub total non-current liabilities | 16,439.75 | 12,279.81 | 16,439.75 | |
| 3 | Current liabilities | |||
| financial liabilities | ||||
| Borrowings | 7,314.96 | 7,681.17 | 7,314.96 | |
| Trade payables | ||||
| a) total outstanding dues of micro enterprises and small enterprises | 274.47 | 102.80 | 274.47 | |
| b) total outstanding dues of creditors other than micro enterprises and small enterprises | 3,478.05 | 3,197.47 | 3,492.20 | |
| Other financial liabilities | 5,859.88 | 4,242.80 | 6.117.05 | |
| Other current liabilities | 796.81 | 509.76 | 801.85 | |
| Provisions | 205.25 | 203.84 | :!05.25 | |
| Current lax liabilities (net) | 322.46 | 76.27 | 322.46 | |
| Sub total current liabilities | 18,251.88 | 16,01~.11 | 18,528.24 | |
| Total | 86,351.95 | 69,107.18 | 86,169.90 |
Place : Gurugram Date: 18 May 2021
Pradeep Kumar Rustagi Executive Director & CFO
### ESTER INDL'STRIES LIMITED
### Regd. Office: Sohan Nagar. P.O. Charubeta, Khatima - 262 308. Distt. l'dhamsingh Nagar (l'ttarakhand) CIN - Ll.il It [IRJ985PLC015063, Website: www.esterindustries.com; Email: investor'i'iester.in Phone: (05943) 250153-57; Fax: (05943) 250158
### Cash flow statement for the year ended 31 March 2021
| | | | ({in lacs) | | |
|------------------------------------------------------------------------|--------------------|--------------------|--------------------|--|--|
| | | Standalone | | | |
| Particulars | For the year ended | For the year ended | For the year ended | | |
| | JI :\larch 2021 | JI March 2020 | JI March 2021 | | |
| | | | | | |
| A Cash flow from opera.ring activities | | | | | |
| Profit before tax | 18,997.85 | 13.856.6~ | 18.539.44 | | |
| Adjustments for: | | | | | |
| Depreciation aml amo1tisation expense | 3,522.32 | 3,527.78 | 3,523.35 | | |
| Loss on sale of property, plant and equipments (net) | 27.39 | 172.92 | 27.39 | | |
| Finance costs | 1,480.05 | 2,045.08 | 1,482.20 | | |
| Interest income on financials assets measured at amortised cost | (123.06) | (l 16.90) | (123.06) | | |
| l)nrealised foreii;n exchange (gain!/ loss (net) | (16.18) | (17.29) | (16.181 | | |
| Bad debts. advances and irrecovc:rablc: balances written off | 15.59 | ~.14 | 15.59 | | |
| Mark to market (gain) / loss on derivative contracts | - | (2 86) | - | | |
| Provisions/liabilities no longer required written back | (216 90) | (59.67) | (216.90) | | |
| lncome recognised on account of government assistance | (253.15) | (253 78) | (253.15) | | |
| Provision for doubtfitl debts I advances | 76.53 | 39.74 | 76.53 | | |
| Loss I (gain) on fair valuation of financial assets | (26.241 | 2.49 | (26.24) | | |
| Provision for obsolete inventories | 13.96 | 3033 | 13.96 | | |
| Operating profit btforc working capital changes and other | 23,498,)6 | 19,228.62 | 23,042.93 | | |
| adjustments: | | | | | |
| Working capital changes and other adjustments: | | | | | |
| Increase in current and non-cmTent loans | 20.29 | (88.76) | 18.39 | | |
| (Increase) I decrease in other non-cmTent and current assets | (665.11) | (1,23402) | (7~8.44) | | |
| Decrease I (increase) in in\'entories | (2,641.38) | 1,447.88 | (2,6~1.38) | | |
| T ncrease in other financial and 11011-fimmcial liabilities | 1,077.85 | 592.02 | 1,083.08 | | |
| Increase in provisions | 40.47 | 128.23 | 40.47 | | |
| (Increase) I decrease in other non-cuncnl and cun-ent financial assets | 837.98 | (774.63) | 837.98 | | |
| Decrease in trade receivables | (2,955.46) | 276.62 | (2,955 .46) | | |
| Increase I (decrease) increase in trade riavables | 408.38 | 914.40 | 422.53 | | |
| Cash flow from operating activities post working capital | 19,621.18 | 20,490.36 | 19,100.10 | | |
| chanees | | | | | |
| fncome tax paid (net ofrefunds) | (4,548.75\ | (3.336.191 | (4.548 .75) | | |
| Net cash flow from oneratin~ activitiu lA\ | 15,072.43 | 17,154.17 | 14,551.JS | | |
| | | | | | |
| B Cash flows from investing acthdties | | | | | |
| Purchase of property plant and equipments (including capital work- | (4,617.99) | (4,308.89) | (13,586.02) | | |
| in-progress and intangible assets) | | | | | |
| Sale of property plant and equipments | 13.35 | 28.34<br>- | 13.35 | | |
| Investment in bank deposits | (1,537.74) | | (1.537.74) | | |
| Proceeds from pledged deposits (net) | 360.36 | (945.56) | 360.36 | | |
| Interest receiYed | 107.96 | 108.00<br>- | 107.%<br>- | | |
| Investment in subsidiary | (9,635.00) | | (84.11) | | |
| (Purchase) I sale of investment (net) | (84.11° | (8.14) | | | |
| Net cash used in investin2 activities (Bl | 115,393.17) | (5,126.251 | 114,726.20) | | |
| C Cash flows from financing actiyities | | | | | |
| Proceeds from long-tem1 bo1Towings | 8,422.95 | 2,109.80 | 8.422.95 | | |
| Repayment of long-tenn borrowings | (2,804.15) | (2,493 .08) | (2,804 . 15) | | |
| Repayment of lease liability | (140.48) | (71.77) | (140.48) | | |
| Repayment ofshott-term borrowings (m~l) | (366.21) | (9,050.24) | (366.21) | | |
| Finance cost paid | (l,4~1.17) | (2,01748) | (l,4~3.32) | | |
| Dividend oaid (including tax) | (3,335. 75) | (502 68) | (3,335.75) | | |
| Net cash used in financinu activities (Cl | JJ5.19 | (12,025.45) | J3J.04 | | |
| | | | | | |
| D Net increase I (decrease) in cash and cash equivalents (A+B+C) | 14.45 | 2.47 | 158.19 | | |
| E Cash and cash eauivalents at the beoininc of the vear | 23.26 | 20.79 | 23.26 | | |
| F Cash and cash e~uivalents at the end of the vear (D+E) | 37.71 | 2J.26 | 181.45 | | |
