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Excell Industries Ltd. — Annual Report 2023
May 16, 2023
63426_rns_2023-05-16_fa5a7978-4a77-48bd-9673-ad25a7291c81.pdf
Annual Report
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IS/ISO9001:2015 IS/ISO14001:2015 IS18001:2007 Certifiedby BIS.
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Excel Industries Ltd.
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16[th] May, 2023
BSE Ltd. Listing Department, Pheeroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400 001
National Stock Exchange of India Ltd. Listing Department, Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai-400 051
Sub: . Outcome of Board Meeting
Ref: BSE Scrip Code: 500650; NSE Scrip Code: EXCELINDUS
Dear Sir,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that at the meeting of the Board of Directors of the Company held today, the Board has approved audited financial results (Standalone and Consolidated) of the Company for the year ended 31st March, 2023 which were earlier approved and recommended by the Audit Committee of the Company at its meeting held today.
Pursuant to Regulation 33(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith the following:
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Auditors' Report on the audited financial results (Standalone and Consolidated) for the year ended 31st March, 2023
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Audited (Standalone and Consolidated) Financial Results for the quarter and year ended 31st March, 2023
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Segment-wise information, Cash Flow Statement and Statement of Assets and Liabilities
In compliance with the provisions of the Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we declare that the above Auditors' Report is with unmodified opinion with respect to Financial Results (Standalone & Consolidated) of the Company for the year ended 31st March, 2023.
Further, the Board has recommended a dividend of Rs. 11.25/- (225%) per equity share of the face value of Rs. 5/- each for the FY 2022-23, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company.
Chemicals Business / Environment & Biotech Division Excel Industries Limited Polymer Inputs / Pharmaceuticals Intermediaries/Veterinary API’s 184-87, S. V. Road, Jogeshwari (West),
E: [email protected] T: 91-22-66464200 F: +91-22-2678 3657 W: http://www.excelind.co.in
Mumbai-400102, Maharashtra, India. CIN: L24200MH1960PLC011807
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Excel Industries Ltd.
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IS/ISO9001:2015
IS/ISO14001:2015
IS18001:2007
Certifiedby BIS.
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The dividend will be paid within 30 days of its declaration by the shareholders at the AGM. The date of AGM will be informed in due course.
The Board meeting commenced at 02:30 p.m. and concluded at 06:10 p.m.
Kindly take the information on your record.
Thanking you,
Yours faithfully, For Excel Industries Limited
Surendra Digitally signed by Surendra Kumar Kumar Singhvi Date: 2023.05.16 Singhvi 18:12:18 +05'30' S K Singhvi Company Secretary Encl: As above
Chemicals Business / Environment & Biotech Division Excel Industries Limited Polymer Inputs / Pharmaceuticals Intermediaries/Veterinary API’s 184-87, S. V. Road, Jogeshwari (West),
E: [email protected] T: 91-22-66464200 F: +91-22-2678 3657 W: http://www.excelind.co.in
Mumbai-400102, Maharashtra, India. CIN: L24200MH1960PLC011807
Price Waterhouse Chartered Accountants LLP
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors of Excel Industries Limited
Report on the Audit of Standalone Financial Results
Opinion
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We have audited the annual standalone financial results of Excel Industries Limited (hereinafter referred to as the 'Company") for the year ended March 31, 2023 and the statement of standalone assets and liabilities and the statement of standalone cash flows as at and for the year ended on that date including notes thereon (together referred to as the 'standalone financial results'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 'Listing Regulations') which has been initialled by us for identification purposes.
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In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial results:
1. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
11. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the "Act") and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Company for the year ended March 31, 2023 and the statement of standalone assets and liabilities and the statement of standalone cash flows as at and for the year ended on that date.
Basis for Opinion
- 3[.] We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the Standalone Financial Results' 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 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.
Board of Directors' Responsibilities for the Standalone Financial Results
- 4[.] These standalone financial results have been prepared on the basis of the annual standalone financial statements. The Company's Board of Directors are responsible for the preparation and presentation of these standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Company and the statement of standalone assets and liabilities and the statement of standalone cash flows in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance
Price Waterhouse Chartered Accountants LLP, Nesco IT Building III, 8th Floor, Nesco IT P'.3,�k,N\'\�\;0 C'mfileif!J ��'1; 3 Western Express Highway, Goregaon East, Mumbai - 400 063 1[,] ,[)'"\'.. ] �Jc:"soo /cor1;•,,. T: +91 (22) 61198000, F: +91 (22) 61198799 / � \ \ (�)) €, [,¼ ",_ x/ ] "Pr O ' number before conversion was 012754N) Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, Gate No 2, 1st Floor, New Delhi - 110002;<X�,, ---. - 1,,,'\ Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited.Liability Partner;1\1i,:W,itb,LL/p,foE!l'fllb8d: L�I -5001) with effect from July 25. 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP. its ICAI registration number is O'l27:sit,ljft!fil!f!O registration
Price Waterhouse Chartered Accountants LLP
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors of Excel Industries Limited Report on the Standalone Financial Results Page 2 of 3
with Regulation 33 of the Listing Regulations. The Board of Directors of the Company are responsible for 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 the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the standalone financial results by the Directors of the Company, as aforesaid.
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5[.] In preparing the standalone financial results, the Board of Directors of the Company are responsible for assessing the ability of the Company 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.
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The Board of Directors of the Company are responsible for overseeing the financial reporting process of the Company.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
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7[.] Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are 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 SAs 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 these standalone financial results.
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As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the standalone financial results, 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.
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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 adequate internal financial controls with reference to standalone financial statements in place and the operating effectiveness of such controls. (Refer paragraph 11 below)
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
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Price Waterhouse Chartered Accountants LLP
INDEPENDENT AUDITOR'S REPORT To the Board of Directors of Excel Industries Limited Report on the Standalone Financial Results Page 3 of 3
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Conclude on the appropriateness of the Board of Directors 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 Company 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 standalone financial results 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.
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Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.
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We communicate with those charged with governance of the 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.
Other Matters
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The standalone financial results include the results for the quarter ended March 31, 2023 being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year, which are neither subject to limited review nor audited by us.
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The standalone financial results dealt with by this report has been prepared for the express purpose of filing with the Stock Exchanges on which the Company's shares are listed. These results are based on and should be read with the audited standalone financial statements of the Company for the year ended March 31, 2023 on which we issued an unmodified audit opinion vide our report dated May 16, 2023.
For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016
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Place: Mumbai Date: May 16, 2023
Bhavesh Gada Partner Membership Number 117592 UDIN: 23117592BGUSIB3931
IS/ISO 9001 :2015 IS/ISO 14001: 2015 IS 18001 :2007 Certified by BIS. Res Care' ouiico"M!liTMf TTOSJ.JSTAt!/AS1UTY
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Excel Industries ltd.
STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2023
| (Rs. in Lakhs) | (Rs. in Lakhs) | (Rs. in Lakhs) | (Rs. in Lakhs) | (Rs. in Lakhs) | |
|---|---|---|---|---|---|
| Sr. No. Particulars |
Quarter Ended | Year Ended | |||
| March 31, 2023 |
December 31, 2022 |
March 31, 2022 |
March 31, 2023 |
March 31, 2022 |
|
| (Unaudited) (Refer Note 31 |
(Unaudited) | (Unaudited) /Refer Note 31 |
(Audited) | (Audited) | |
| 1 Income (a) Revenue from operations (b) Other income Total Income (1) 2 Expenses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress (d) Employee benefit expense (e) Depreciation and amortisation expenses (ry Impairment loss on property, plant and equipment (Refer Note 5) (g) Other expenses (h) Finance costs Total Expenses (2) 3 Profit before exceptional items and tax (1-2) 4 Exceptional items 5 Profit before tax (3-4) 6 Tax expense - Current tax - Deferred tax - Tax in respect of earlier years 7 Profit for the period (after tax) (5-6) 8 Other Comprehensive Income/ (Loss) A (i) Items that will not be reclassified to profit or loss (Refer Note 4) (ii) Income tax relating to the items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to the items that will be reclassified to profit or loss 9 Total Other Comprehensive Income/ (Loss) for the period 10 Total Comprehensive IncomeI(Loss) for the period (7+9) 11 Paid up Equity Share Capital (face value of Rs. 5/- per Equity Share) 12 Other Equit 13 Earnings per share (EPS) - in Rs. Earning Per Shares of Rs. 5/- each (not annualised) Basic Diluted |
22,608.98 255.89 22,864.87 12,068.41 679.40 1,249.49 2,441.00 783.69 65.23 5,006.98 39.16 22,333.36 531.51 531.51 171.64 (23.69) 149.01 234.55 1,945.35 (788.08) - 1,157.27 1,391.82 628.53 1.87 1.87 |
22,296.60 184.92 22,481.52 12,281.43 158.39 (398.10) 2,617.24 785.08 4,825.46 35.75 20,305.25 2,176.27 2,176.27 528.19 39.17 (265.56) 1,874.47 (550.48) 64.11 - (486.37) 1,388.10 628.53 14.91 14.91 |
36,466.54 112.51 36,579.05 19,787.88 148.75 260.28 2,880.59 773.65 6,711.33 42.47 30,604.95 5,974.10 5,974.10 1,473.98 28.63 4,471.49 1,177.76 (242.28) 935.48 5,406.97 628.53 35.57 35.57 |
108,981.90 1,055.90 110,037.80 61,455.20 1,277.12 347.14 10,488.48 3,136.19 65.23 22,656.58 216.71 99,642.65 10,395.15 10,395.15 2,564.41 102.18 (116.55) 7,845.11 2,102.46 (1,220.00) 882.46 8,727.57 628.53 98,543.31 62.41 62.41 |
117,801.98 1,421.12 119,223.10 62,137.68 452.56 (1,899.95) 10,619.65 3,065.50 23,445.25 192.38 98,013.07 21,210.03 21,210.03 5,072.35 121.76 16,015.92 8,539.27 (1,453.70) 7,085.57 23,101.49 628.53 92,644.15 127.41 127.41 |
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Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. CIN: L242OOMH196OPLCO118O7
E : [email protected] T: 91- 22 - 6646 4200 F: +91-22-2678 3657 W: www.excelind.co.in
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
IS/ISO 9001 :2015 IS/ISO 14001 :2015 IS 18001 :2007 Certified by BIS.
Excel Industries Ltd.
STATEMENT OF STANDALONE ASSETS AND LIABILITIES
| STATEMENT OF STANDALONE ASSETS AND LIABILITIES | |||
|---|---|---|---|
| Rs. in Lakhs | |||
| Sr. No. Particulars |
As at | ||
| A Assets 2 B 2 3 Non-current assets Property, plant and equipment Right-of-use assets Capital work-in-progress Investment properties Goodwill Other intangible assets Financial assets (i) Investments in subsidiaries and joint venture (ii) Other investments (Refer Note 4) (iii) Loans to employees (iv) Other financial assets Non-current tax assets (net) Other non-current assets Total non-current assets Current assets Inventories Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than cash and cash equivalents (v)_Loans to employees (vi) Other financial assets Other current assets Total current assets Equity and Liabilities Equity Equity share capital Other equity Total equity Liabilities Non-current liabilities Financial liabilities (i) Lease liabilities Employee benefit obligations Deferred tax liabilities (net) Total Non-current liabilities Current liabilities Financial liabilities (i) Borrowings (ii) Trade payable (a) total outstanding dues of micro and small enterprises (b) total outstanding dues other than (ii) (a)_above (iii) Lease liabilities (iv) Other financial liabilities Employee benefit obligations Current tax liabilities (net) Other current liabilities (net) Total current liabilities Total liabilities Total Assets Total Equity and Liabilities |
|||
| 178.09 1,313.02 9,511.42 |
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| 11,002.53 | **9,678.95 ** | ||
| 89.08 523.53 678.05 1,432.38 10,004.41 16,609.97 0.24 39.18 553.11 456.62 500.62 510.16 47.78 294.72 430.69 359.55 |
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| 12,303.98 20,226.11 |
|||
| 23,306.51 29,905.06 |
|||
| 1- | - 1.22',4"78:.35-_ 1:23,.17c7.7. 4 |
E : [email protected] T: 91- 22 - 6646 4200 F: +91-22-2678 3657 W: www.excelind.co.in
Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. GIN: L24200MH1960PLC011807
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
IS/ISO 9001 :2015 IS/ISO 14001: 2015 IS 18001 :2007 Certified by BIS.
Excel Industries Ltd.
STATEMENT OF STANDALONE CASH FLOWS
| STATEMENT OF STANDALONE CASH FLOWS | ||
|---|---|---|
| (Rs. in Lakhsl | ||
| Particulars CASH FLOW FROM OPERATING ACTIVITIES: Profit before tax Adjustments for: Depreciation and amorisation expenses Finance costs Bad debts written off during the year Provision for/ (reversal oD doubtful debts (net) Provision for doubtful advances Unrealised exchange differences (net) Dividend income Interest income Gain on fair valuation of investments through profit and loss Impairment loss on property, plant and equipment Profit on sale of current investments Net loss on sale/ discard of property, plant and equipment Operating profit before working capital changes Adjustments for: (Increase)/ decrease in Inventories (Increase)/ decrease in Trade receivables (Increase)/ decrease in Other bank balances (Increase)/ decrease in Loans to employees (Current and Non-current) (Increase)/ decrease in Other financial assets (Current and Non-current) (Increase)/ decrease in Other assets (Current and Non-current) Increase/ (decrease) in Trade payables Increase/ (decrease) in Other financial liabilities (Current and Non-current) Increase/ (decrease) in Employee benefit obligations (Current and Non-current) Increase/ (decrease) in Other current liabilities Less: Income taxes paid (net of refunds) NET CASH INFLOW GENERATED FROM OPERATING ACTIVITIES· [A] CASH FLOW FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment (including capital work-in-progress, capital advances and capital vendor) Purchase of Intangible assets Payment towards acquisition of business Proceeds from sale of property, plant and equipment Proceeds from sale of current investments Interest received Investments in bank deposits with maturity of more than three months (net) Dividend received Purchase of current investments NET CASH (OUTFLOW) FROM INVESTING ACTIVITIES - [BJ CASH FLOW FROM FINANCING ACTIVITIES: Repayment of borrowings Principal elements of lease payments Repayment/ transfer of public fixed deposits (including Interest) Dividend paid Interest paid NET CASH (OUTFLOW) FROM FINANCING ACTIVITIES· [C] NETJNCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS· [A+B+C] J''�aC�§b'��acash equivalents at the beginning of the year · · ,CJsh<ndlcash equivalents at the end of the year Cn:,,:1,,,,ri£,.,...... • |
Particulars | Year Ended March 31, 2023 (Audited) 10,395.15 3,136.19 216.71 27.62 (141.72) (1.00) (3.45) (90.68) (511.14) (91.14) 65.23 (80.23) 124.38 13,045.92 3,378.31 4,389.96 178.39 11.85 (371.20) 2,241.11 (7,365.79) 14.04 (31.87) 71.14 15,561.86 2,907.45 12,654.41 (3,249.76) (15.77) - 114.48 11,602.87 322.00 (4,747.31) 90.68 (15,827.09) (11,709.90) (434.45) (56.08) (4.77) (2,821.53) (140.50) (3,457.33 (2,512.82) 2,840.11 327.29 March 31, 2022 (Audited) 21,210.03 3,065.50 192.38 - 26.08 80.78 38.43 (1,074.88) (247.38) (0.53) 30.38 23,320.79 (9,625.47) (2,667.37) 668.62 2.84 (41.55) (1,439.55) 5,692.32 (9.53) (100.14) 27.99 15,828.95 4,936.78 10,892.17 (7,370.71) (18.73) (1,000.00) 20.20 217.94 (3,463.57) 1,074.88 (34.95) (10,574.94) (85.71) (53.14) (1.33) (1,415.70) (131.64) (1,687.52) (1,370.29) 4,210.40 2,840.11 |
| ~~.~~ ~~C~~ |
Excel Industries Limited E : [email protected] 184-87, S. V. Road, Jogeshwari (West), T: 91- 22 - 6646 4200 Mumbai - 400 102, Maharashtra, India. F : +91-22-2678 3657 CIN: L24200MH1960PLC011807 W: www.excelind.co.in
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
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Excel Industries Ltd.
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IS/ISO 9001 :2008, IS/ISO 14001 :2004 & IS 18001:2007 Certified by BIS.
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NOTES TO STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2023:
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The standalone financial results for the quarter and year ended March 31, 2023 were reviewed by the Audit Committee and approved by the Board of Directors of Excel Industries Limited ('the Company') at their meetings held on May 16, 2023.
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2 The Board of Directors have recommended dividend of D 2. c, •/,amounting to Rs. I I· 25/Previous year : Rs. 22.50) per equity share of Rs. 5.00 each for the year ended March 31, 2023 subject to approval of shareholders.
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3 The figures for the quarter ended March 31, 2023 and March 31, 2022 are arrived at as difference between audited figures in respect of the full financial year ended March 31, 2023 and March 31, 2022, and unaudited figures up to nine months ended December 31, 2022 and December 31, 2021 respectively, which were reviewed earlier and not subjected to audit.
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4 Other Comprehensive Income include increase in fair value of investments in equity instruments amounting to Rs. 1,853.96 lakhs and Rs. 2,016.38 lakhs for the quarter and year ended March 31, 2023.
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5 The Company has given closure notice of Municipal Solid Waste (MSW) processing plant to Ahmedabad Municipal Corporation effective from October 1, 2023. Accordingly, the Company has recognized impairment loss of Rs. 65.23 lakhs on property, plant and equipment and inventory write off of Rs. 60.57 lakhs pertaining to its Environment and Biotech se!'.)ment for the quarter and year ended March 31, 2023.
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E: [email protected] T: 91- 22 - 6646 4200 F: +91-22-2678 3657 W: http://www.excelind.co.in
Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. CIN: L24200MH1960PLC011807
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
IS/ISO 9001 :2015 IS/ISO 14001 :2015 IS 18001 :2007 Certified by BIS.
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Excel Industries Ltd.
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6 Segment Information:
| (Rs in Lakhs) | (Rs in Lakhs) | (Rs in Lakhs) | (Rs in Lakhs) | (Rs in Lakhs) | |
|---|---|---|---|---|---|
| Particulars | For the Quarter ended | For the Year ended March 31, 2023 March 31, 2022 |
|||
| March 31, 2023 | December 31, 2022 | March 31,2022 | March 31, 2023 | ||
| (Unaudited) /Refer Note 3) |
(Unaudited) | (Unaudited) /Refer Note 31 |
(Audited) | (Audited) | |
| Segment Revenue (Revenue from operations) Chemicals Environment and Biotech Total Segment Revenue Less: Inter segment revenue Net Segment Revenue Segment Results Chemicals Environment and Biotech Total Segment Results Less: Finance cost other unallocable expenditure (net of unallocable income) Profit before tax |
21,954.25 654.73 |
21,911.01 385.59 |
35,944.65 521.89 |
106,709.99 2,271.91 |
115,253.96 2,548.02 |
| 22,608.98 - |
22,296.60 - |
36,466.54 - |
108,981.90 - |
117,801.98 - |
|
| 22,608.98 1,558.06 (156.64) |
22,296.60 3,233.97 (41.49) |
36,466.54 7,456.28 (56.38) |
108,981.90 14,933.17 (297.82) |
117,801.98 24,827.19 256.88 |
|
| 1,401.42 39.16 830.75 |
3,192.48 35.75 980.46 |
7,399.90 42.47 1,383.33 |
14,635.35 216.71 4,023.49 |
25,084.07 192.38 3,681.66 |
|
| 531.51 | 2,176.27 | 5,974.10 | 10,395.15 | 21,210.03 | |
| Segment Assets Chemicals Environment and Biotech Unallocated Total Segment Assets Segment Liabilities Chemicals Environment and Biotech Unallocated Total Segment Liabilities |
71,137.95 1,886.22 49,454.18 |
67,046.00 1,663.19 49,919.11 |
78,735.62 1,986.31 42,455.81 |
71,137.95 1,886.22 49,454.18 |
78,735.62 1,986.31 42,455.81 |
| 122,478.35 11,209.49 498.14 11,598.88 |
118,628.30 9,813.82 383.58 10,650.88 |
123,177.74 18,556.07 467.60 10,881.39 |
122,478.35 11,209.49 498.14 11,598.88 |
123,177.74 18,556.07 467.60 10,881.39 |
|
| 23,306.51 | 20,848.28 | 29,905.06 | 23,306.51 | 29,905.06 |
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For EXC fNDUSTRIEs LIMlTED
. . . ·
-··
ASHWiN C. SH //:
EXECUTIVE CHAIRMAN
DIN: 00019952
Place: Mumbai
Date: May 16, 2023
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' 1/71,
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E: [email protected] T: 91- 22 - 6646 4200 F: +91-22-2678 3657 W: www.excelind.co.in
Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. CIN: L24200MH1960PLC011807
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
Price Waterhouse Chartered Accountants LLP
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors of Excel Industries Limited
Report on the Audit of Consolidated Financial Results
Opinion
-
We have audited the annual consolidated financial results of Excel Industries Limited (hereinafter referred to as the "Holding Company") and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group") and its associate companies for the year ended March 31, 2023 and the statement of consolidated assets and liabilities and the statement of consolidated cash flows as at and for the year ended on that date including the notes thereon (together referred to as the 'consolidated financial results'), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations') which has been initialled by us for identification purposes.
-
In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements of subsidiaries and an associate company, and based on the consideration of the separate unaudited financial information of an associate company, the aforesaid consolidated financial results:
-
include the annual financial results of the following entities:
Kamaljyot Investments Limited - Subsidiary Company Excel Bio Resources Limited - Subsidiary Company Mobitrash Recycle Ventures Private Limited - Associate Company Climacrew Private Limited - Associate Company
-
are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
-
m. give a true and fair view, in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the "Act") and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Group and its associate companies for the year ended March 31, 2023 and the statement of consolidated assets and liabilities and the statement of consolidated cash flows as at and for the year ended on that date.
Basis for Opinion
- 3[.] We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the Consolidated Financial Results' section of our report. We are independent of the Group and its associate companies in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India 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 and other auditors in terms of their reports referred to in "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion.
,:., ·,\c,f:; (:hd.rt·,.'!i.,· 1./ ,·, · Western Express Highway, Goregaon East, Mumbai - 400 063 T: +91 (22) 61198000, F: +91 (22) 61198799 {( s.:° / Ch;r tered \ ,s, \/1,. "si) , . ..·. \·�>.\/[., ] :,·' �/�,g�i/tJ4f'l/n"·· •·· 1�,i}\·"-' \ Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, Gate No 2, 1st Floor, New Delhi -··1:1,0602 Price Waterhouse �hartered Accountants LLP, Nes�o IT Building III, 8th Floor, Ne;7�;.fI'�a't�(tt��RR<fo5igflex, Gate No. 3
Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Pa���:{;1 ,:,:wJttrttf'identlty no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N)
Price Waterhouse Chartered Accountants LLP
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors of Excel Industries Limited Report on the Consolidated Financial Results Page 2 of 5
Board of Director's Responsibilities for the Consolidated Financial Results
-
These consolidated financial results have been prepared on the basis of the annual consolidated financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group including its associate companies and the statement of consolidated assets and liabilities and the statement of consolidated cash flows in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 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 respective Board of Directors of the companies included in the Group and of its associate companies 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 its associate companies 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 the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Holding Company, as aforesaid.
-
In preparing the consolidated financial results, the respective Board of Directors of the companies included in the Group and of its associate companies are responsible for assessing the ability of the Group and of its associate companies 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 and its associate companies 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 and of its associate companies are responsible for overseeing the financial reporting process of the Group and of its associate companies.
Auditor's Responsibilities for the Audit of the Consolidated Financial Results
- 7[.] Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether clue 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 SAs 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 these consolidated financial results.
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Price Waterhouse Chartered Accountants LLP
INDEPENDENT AUDITOR'S REPORT To the Board of Directors of Excel Industries Limited Report on the Consolidated Financial Results Page 3 of 5
-
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the consolidated financial results, 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.
-
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 Holding Company has adequate internal financial controls with reference to consolidated financial statements in place and the operating effectiveness of such controls. (Refer paragraph 15 below)
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
-
Conclude on the appropriateness of the Board of Director'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 and its associate companies 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 consolidated financial results 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 and its associate companies to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the financial results / financial information of the entities within the Group and its associate companies to express an opinion on the consolidated financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated financial results, which have been audited by 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.
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Price Waterhouse Chartered Accountants LLP
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors of Excel Industries Limited Report on the Consolidated Financial Results Page 4 of 5
-
We communicate with those charged with governance of the Holding Company of which we are the independent auditors 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.
-
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
Other Matters
- We did not audit the financial statements of two subsidiaries included in the consolidated financial results, whose financial statements reflect total assets of Rs. 27,273.91 lakhs and net assets of Rs. 25,460.80 lakhs as at March 31, 2023, total revenues of Rs. 3.79 lakhs, total net profit after tax of Rs. 224.51 lakhs, and total comprehensive income of Rs. 3,416.69 lakhs for the year ended March 31, 2023 and cash outflows of Rs. 160.72 lakhs for the year ended March 31, 2023, as considered in the consolidated financial results. The consolidated financial results also include the Group's share of net profit after tax of Rs. 13-42 lakhs and total comprehensive income of Rs. 13.42 lakhs for the year ended March 31, 2023, in respect of one associate company, whose financial statements have not been audited by us. These financial statements have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associate company is based solely on the reports of the other auditors and the procedures 10 above.
performed by us as stated in paragraph
-
The consolidated financial results includes the Group's share of net loss after tax of Rs. 49-49 lakhs and total comprehensive loss of Rs. 49-49 lakhs for the year ended March 31, 2023, in respect of one associate company, whose financial information have not been audited by us. These financial information are unaudited and have been furnished to us by the Management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of this associate company is based solely on such unaudited financial information. In our opinion and according to the information and explanations given to us by the Management, these financial information are not material to the Group.
-
Our opinion on the consolidated financial results is not modified in respect of the matters stated in paragraphs 11 and 12 above with respect to our reliance on the work done and the reports of the other auditors and the financial information certified by the Management.
-
The consolidated financial results include the results for the quarter ended March 31, 2023 being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures upto the third quarter of the current financial year, which are neither subject to limited review nor audited by us.
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Price Waterhouse Chartered Accountants LLP
INDEPENDENT AUDITOR'S REPORT To the Board of Directors of Excel Industries Limited Report on the Consolidated Financial Results Page 5 of 5
- The consolidated financial results dealt with by this report have been prepared for the express purpose of filing with the Stock Exchanges on which the Company's shares are listed. These results are based on and should be read with the audited consolidated financial statements of the Group and its associate companies, for the year ended March 31, 2023 on which we have issued an unmodified audit opinion vide our report dated May 16, 2023.
For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016
==> picture [139 x 17] intentionally omitted <==
Bhavesh Gada Partner Membership Number: 117592 UDIN: 23117592BGUSIC1997
Place: Mumbai Date: May 16, 2023
IS/ISO 9001 :2015 IS/ISO 14001:2015 IS 18001 :2007 Certified by BIS.
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Excel Industries Ltd.
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STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2023
| (Rs. in Lakhs) | (Rs. in Lakhs) | (Rs. in Lakhs) | (Rs. in Lakhs) | (Rs. in Lakhs) | ||
|---|---|---|---|---|---|---|
| Sr. No. Particulars |
Quarter Ended | Year Ended | ||||
| March 31, 2023 |
December 31, 2022 |
March 31, 2022 |
March 31, 2023 |
March 31, 2022 |
||
| (Unaudited) */Refer Note 3* |
(Unaudited) | (Unaudited) */Refer Note 3* |
(Audited) | (Audited) | ||
| 1 Income (a) Revenue from operations {b) Other income Total Income (1) 2 Expenses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress ( d) Employee benefit expense (e) Depreciation and amortisation expenses (ij Impairment loss on property, plant and equipment (Refer Note 5) (g) Other expenses (h) Finance costs Total Expenses (2) 3 Profit before exceptional items, share in profit/ (loss) of equity accounted investments and tax (1-2) 4 Share in profit / (loss) of equit accounted investments in associates (net) 5 Profit before exceptional items and tax (3-4) 6 Exceptional items 7 Profit before tax (5-6) 8 Tax expense - Current tax - Deferred tax - Tax in respect of earlier years 9 Profit for the period (after tax) (7-8) 10 Other Comprehensive Income_I_(Loss) A (i) Items that will not be reclassified to profit or loss (Refer Note 4) (ii) Income tax relating to the items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to the items that will be reclassified to profit or loss 11 Total Other Comprehensive Income/ (Loss) for the period 12 Total Comprehensive IncomeI(Loss) for the period (9+11) 13 Paid up Equity Share Capital (face value of Rs. 5/- per Equity Share) 14 Other Equity 15 Earnings per share (EPS) • in Rs. Earning Per Shares of Rs. 5/- each (not annualised) Basic Diluted |
22,608.98 258.92 22,867.90 12,068.41 679.40 1,249.49 2,441.00 783.69 65.23 5,009 60 39.16 22,335.98 531.92 (25.97) 505.95 505.95 173.99 (33.35) 149.00 216.31 2,319.35 (823.20) 1,496.15 1,712.46 628.53 1.72 1.72 |
22,296.60 191.03 22,487.63 12,281.43 158.39 (398.10) 2,617.24 785.08 4,830.88 36.17 20,311.09 2,176.54 (7.28) 2,169.26 2,169.26 529.65 36.72 (265.56) 1,868.45 (585.87) 66.63 (519.24) 1,349.21 628.53 14.86 14.86 |
36,466.54 122.26 36,588.80 19,787.88 148.75 260.28 2,880.59 773.65 6,712.69 43.88 30,607.72 5,981.08 5,981.08 5,981.08 1,482.45 19.90 4,478.73 366.72 (106.90) 259.82 4,738.55 628.53 35.63 35.63 |
108,981.90 1,286.58 110,268.48 61,455.20 1,277.12 347.14 10,488.48 3,136.19 65.23 22,668.78 217.45 99,655.59 10,612.89 (36.07) 10,576.82 10,576.82 2,608.47 91.36 (116.56) 7,993.55 3,274.96 799.68 4,074.64 12,068.19 628.53 123,546.17 63.59 63.59 |
117,801.98 1,563.63 119,365.61 62,137.68 452.56 (1,899.95) 10,619.65 3,065.50 23,451.00 193.79 98,020.23 21,345.38 21,345.38 21,345.38 5,100.13 125.00 16,120.25 18,129.28 (3,054.46) 15,074.82 31,195.07 628.53 114,306.38 128.24 128.24 |
. . . . ..... .. ..... ,.. -1"'
--ii1li>Hl®'H'IM' -11""�-------
E : [email protected] T: 91- 22 - 6646 4200 F : +91-22-2678 3657
Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. CIN: L24200MH1960PLC011807
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
W: www.excelind.co.in
IS/ISO 9001 :2008, IS/ISO 14001:2004 & IS 18001:2007 Certified by BIS.
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Excel Industries Ltd.
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STATEMENT OF CONSOLIDATED ASSETS AND LIABILITIES
| Rs. in Lakhs | ||
|---|---|---|
| Sr. No. Particulars |
As at | |
| March 31, 2023 March 31, 2022 Audited Audited 38,611.70 38,463.73 2,151 09 2,222.07 1,931.36 2,120.25 81.48 83.40 1,885.28 1,885.28 30.55 33.71 13.42 0.10 56,805.00 53,465.75 3.30 4.37 789.48 630.49 2,052.05 1,788.66 160.32 119.15 |
||
| A Assets 2 B 2 3 Non-current assets Propery, plant and equipment Right-of-use assets Capital work-in-progress Investment properties Goodwill Other intangible assets Financial assets (i) Investments in joint venture and associates (ii) Other investments (Refer Note 4) (iii) Loans (iv) Other financial assets Non-current tax assets (net) Other non-current assets Total non-current assets Current assets Inventories Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Loans (vi) Other financial assets Other current assets Total current assets Equity and Liabilities Equity Equity share capital Other equity Total equity Liabilities Non-current liabilities Financial liabilities (i) Lease liabilities Employee benefit obligations Deferred tax liabilities (net) Total Non-current liabilities Current liabilities Financial liabilities (i) Borrowings (ii) Trade payable {a) total outstanding dues of micro and small enterprises (b) total outstanding dues other than (ii) (a) above (iii) Lease liabilities (iv) Other financial liabilities Employee benefit obligations Current tax liabilities (net) Other current liabilities Total current liabilities Total liabilities Total Assets Total Equity and Liabilities |
||
| 104,515.03 100,816.96 |
||
| 13,144.27 16,522.58 5,641.51 1,196.80 15,651.95 19,920.77 357.22 3,030.76 8,336.75 3,767.04 121.66 132.44 648.80 241.87 840.50 3,035.36 |
||
| 44,742.66 47,847.62 |
||
| 149,257.69 148,664.58 628.53 628.53 123,546.17 114,306.38 |
||
| 124,174.70 114,934.91 |
||
| 178.09 178.33 1,313.02 1,421.43 11,254.84 11,884.03 |
||
| 12,745.95 13,483.79 89.08 523.53 678.05 1,432.38 10,006.87 16,612.40 0.24 39.18 553.11 456.62 500.62 510.16 77.69 311.06 431.38 360.55 |
||
| 12,337.04 20,245.88 |
||
| 25,082.99 33,729.67 |
||
| 149,257.69 148,664.58 |
||
| l |
E: excelmumbai@�xceJind.com T: 91- 22 - 6646 42b0 . . F: +91-22-2678 3657
Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. CIN: L24200MH1960PLC011807
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
W: http://www.excelind.co.in
IS/ISO 9001:2008, IS/ISO 14001 :2004 & IS 18001 :2007 Certified by BIS.
Excel Industries Ltd.
STATEMENT OF CONSOLIDATED CASH FLOWS
| STATEMENT OF CONSOLIDATED CASH FLOWS | |||
|---|---|---|---|
| ... :, � /'(} |
IRs. in Lakhs) | ||
| Particulars CASH FLOW FROM OPERATING ACTIVITIES: Profit before tax Adjustments for: Depreciation and amortisation expenses Finance costs Bad debts written off during the year Provision for/ (reversal o0 doubtful debts (net) Provision for doubtful advances Unrealised exchange differences (net) Dividend income Interest income Gain on fair valuation of investments through profit and loss Impairment loss on property, plant and equipment Profit on sale of current investments Net loss on sale/ discard of property, plant and equipment Share of net loss of associates Operating profit before working capital changes Adjustments for: (Increase)/ decrease in Inventories (Increase)/ decrease in Trade receivables (Increase)I_decrease in Other bank balances (Increase)_I_decrease in Loans to employees (Current and Non-current) {Increase)/ decrease in Other financial assets (Current and Non-current) (Increase)/ decrease in Other assets (Current and Non-current) Increase_I(decrease) in Trade payables Increase/ (decrease) in Other financial liabilities (Current and Non-current) Increase/ (decrease) in Employee benefit obligations (Current and Non-current) Increase/ (decrease) in Other current liabilities Less: Income taxes paid (net of refunds) NET CASH INFLOW GENERA TED FROM OPERATING ACTIVITIES· [A] CASH FLOW FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment (including capital work-in-progress, capital advances and capital vendor) Purchase of intangible assets Payment towards acquisition of business Proceeds from sale of property, plant and equipment Proceeds from sale of Current investments Proceeds from sale of Non-current investments Interest received Investment in associate company Investments in bank deposits with maturity of more than three months (net) Dividend received Purchase of Non-current investments Purchase of Current investments NET CASH (OUTFLOW) FROM INVESTING ACTIVITIES· [BJ CASH FLOW FROM FINANCING ACTIVITIES: Repayment of borrowings Principal elements of lease payments Repayment/ transfer of public fixed deposits (including Interest) Dividend paid Interest paid NET GASH (OUTFLOW) FROM FINANCING ACTIVITIES· [CJ N&Tir�j�}St:{QECREASE) IN CASH AND CASH EQUIVALENTS· [A+B+C] f ZRf�lsh'a@G��h·e:�ivalents at the beginning of the year Cash a'H''ash;qui1alents at the end of the year < Accuuntant,;\· , |
Year Ended | ||
| March 31, 2023 |
March 31, 2022 |
||
| (Audited) | (Audited) | ||
| 10,576.82 3,136.19 217.45 27.62 (141.72) (1.00) (3.45) (290.28) (530.64) (86.77) 65.23 (80.43) 124.38 36.07 |
21,345.38 3,065.50 193.79 26.08 80.78 38.43 (1,146.69) (256.65) (13.00) (42.62) 30.38 |
||
| 13,049.47 3,378.31 4,392.27 178.39 11.85 (371.17) 2,177.26 (7,365.76) 14 04 (31.87) 70.83 |
23,321.38 (9,625.47) (2,669.79) 685.01 2.84 (41.57) (1,439.82) 5,692.57 (9.60) (100.14) 28.87 |
||
| 15,503.62 2,968.84 |
15,844.28 4,950.86 |
||
| 12,534.78 (3,249.76) (15.77) 114.48 11,605.51 276.29 335.89 (49.39) (4,748.10) 290.28 (426.64) (15,883.04 |
10,893.42 (7,370.71) (18.73) (1,000.00) 20.20 554.51 227.40 (0.10) (3,480.78) 1,146.69 (487.06 |
||
| (11,750.25 (434.45) (56.08) (4.77) (2,821.53) (14124) |
(10,408.58 (85.71) (53.14) (1.33) (1,415.70) (133.05 |
||
| (3,458.07) | (1,688.93 |
||
| (2,673.54) 3,030.76 |
(1,204.09) 4,234.85 |
||
| 357.22 | 3,030.76 | ||
| � •| |
�
T: 91-E: excelmumbai@excelind:com 22 - 6646 4200 .. F: +91-22-2678 3657 W: http://w .excelind.co.in
Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. CIN: L24200MH1960PLC011807
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
==> picture [126 x 74] intentionally omitted <==
Industries Ltd.
IS/ISO 9001 :2008, IS/ISO 14001 :2004 & IS 18001:2007 Certified by BIS.
NOTES TO CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR MARCH 31, 2023
-
The consolidated financial results for the quarter and year ended March 31, 2023 were reviewed by the Audit Committee and approved by the Board of Directors of Excel Industries Limited ('the Holding Company') at their meetings held on May 16, 2023.
-
2 The Board of Directors have recommended dividend of ,')'JI;,'/ · amounting to Rs. l \ · J hPrevious year : Rs. 22.50) per equity share of Rs. 5.00 each for the year ended March 31, 2023 subject to approval of shareholders.
-
3 The figures for the quarter ended March 31, 2023 and March 31, 2022 are arrived at as difference between audited figures in respect of the full financial year ended March 31, 2023 and March 31, 2022, and unaudited figures up to nine months ended December 31, 2022 and December 31, 2021 respectively, which were reviewed earlier and not subjected to audit.
-
4 Other Comprehensive Income includes increase in fair value of investments in equity instruments amounting to Rs. 2,227.96 lakhs and Rs. 3,188.88 lakhs for the quarter and year ended March 31, 2023.
-
S The Holding Company has given closure notice of Municipal Solid Waste (MSW) processing plant to Ahmedabad Municipal Corporation effective from October 1, 2023. Accordingly, the Holding Company has recognized impairment loss of Rs. 65.23 lakhs on property, plant and equipment and inventory write off of Rs. 60.57 lakhs pertaining to its Environment and Biotech segment for the quarter and year ended March 31, 2023.
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E: [email protected] T: 91- 22 - 6646 4200 F : +91-22-2678 3657 W: http://www.excelind.co.in
Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. CIN: L24200MH1960PLC011807
Chemicals Business I Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's
IS/ISO 9001 :2015 IS/ISO 14001 :2015 IS 18001 :2007 Certified by BIS.
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Excel Industries Ltd.
==> picture [104 x 55] intentionally omitted <==
6 Segment information:
| Segment information: | |||||
|---|---|---|---|---|---|
| (Rs in Lakhs) | |||||
| Particulars | For the Quarer Ended | For the Year Ended | |||
| March 31, 2023 | December 31,2022 | March 31, 2022 | March 31, 2023 | March 31, 2022 | |
| (Unaudited) (Refer Note 31 |
(Unaudited) | (Unaudited) /Refer Note 31 |
(Audited) | (Audited) | |
| Segment Revenue (Revenue from operations) Chemicals Environment and Biotech Total Segment Revenue Less: Inter segment revenue Net Segment Revenue Segment Results Chemicals Environment and Biotech Total Segment Results Less: Finance cost Other unallocable expenditure (net of unallocable income) Share in profit/ (loss) of equity accounted investments in associates (net) Profit before tax |
21,954.25 654.73 |
21,911.01 385.59 |
35,944.65 521.89 |
106,709.99 2,271.91 |
115,253.96 2,548.02 |
| 22,608.98 | 22,296.60 - |
36,466.54 | 108,981.90 | 117,801.98 - |
|
| 22,608.98 1,558.06 (156.64 |
22,296.60 3,233.97 (41.49) |
36,466.54 7,456.28 (56.38) |
108,981.90 14,933.17 (297.82 |
117,801.98 24,827.19 256.88 |
|
| 1,401.42 39.16 830.34 (25.97) |
3,192.48 36.17 979.77 (7.28) |
7,399.90 43.88 1,374.94 - |
14,635.35 217.45 3,805.01 (36.07) |
25,084.07 193.79 3,544.90 |
|
| 505.95 | 2,169.26 | 5,981.08 | 10,576.82 | 21,345.38 | |
| Segment Assets Chemicals Environment and Biotech Unallocated Total Segment Assets Segment Liabilities Chemicals Environment and Biotech Unallocated Total Segment Liabilities |
71,137.95 1,886.22 76,233.52 |
67,046.00 1,663.19 76,392.34 |
78,735.62 1,986.31 67,942.65 |
71,137.95 1,886.22 76,233.52 |
78,735.62 1,986.31 67,942.65 |
| 149,257.69 11,209.49 498.14 13,375.36 |
145,101.53 9,813.82 383.58 12,441.89 |
148,664.58 18,556.07 467.60 14,706.00 |
149,257.69 11,209.49 498.14 13,375.36 |
148,664.58 18,556.07 467.60 14,706.00 |
|
| 25,082.99 | 22,639.29 | 33,729.67 | 25,082.99 | 33,729.67 |
For EXCEL INDUSTRIES LIMITED
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ASHWIN C. SHROFF EXECUTIVE CHAIRMAN DIN: 00019952
Place: Mumbai Date: May 16,2023
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E : [email protected] T: 91- 22 - 6646 4200 F : +91-22-2678 3657 W: www.excelind.co.in
Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai - 400 102, Maharashtra, India. CIN: L24200MH1960PLC011807
Chemicals Business / Environment & Biotech Division Polymer Inputs I Pharmaceutical Intermediates I Veterinary APl's