Exide Industries Ltd. — Interim / Quarterly Report 2021

Aug 3, 2020

RefNo.: EIL/SEC/2020-21/14

03.08.2020

The Calcutta Stock Exchange Limited	BSE Limited
7 Lyons Range	PhirozeJeejeebhoy Towers
Kolkata -700 00 I	Dalal Street, Mumbai -400 001
CSE Scrip Code: 15060 & 10015060	BSE Scrip Code: 500086
National Stock Exchange of India Limited	-
Exchange Plaza, 5th Floor,
Plot no. C/1, G Block
Bandra-Kurla Complex, Bandra (E),
Mumbai -400 051
NSE Symbol: EXIDEIND

Dear Sir/ Madam,

Sub: Outcome of the Board Meeting held on 3,·d August, 2020

Enclosed please find the unaudited financial results (Consolidated and Standalone) for the quarter ended 30th June, 2020 which was approved and taken on record by the Board of Directors at its meeting held today i.e. 3rd August 2020. The said results were reviewed by the Audit Committee of directors at its meeting held earlier today. A copy of the Limited Review Report by the auditors on the said financial results is also enclosed.

The copy of the Press Release being issued in this regard is also attached.

The board meeting commenced at 3.00 P.M. and concluded at 4.10 P.M.

This communication is also being uploaded on the website of the Company at www .exideindustries.com.

We request you to kindly take the same on record and acknowledge receipt

Thanking you.

Yours faithfully, For Exide Industries Limited

r---- '~JUL)-_ __,V'°"'r

Jiten~ Kumar Company Secretary and EVP- Legal & Administration ACS No. 11159

Encl:

• Unaudited Standalone and Consolidated Financial results
• Limited Review report (Standalone & Consolidated)
• Press Release

EXIDE INDUSTRIES LIMITED EXIDE HOllSE, 59E,Cl!OWRINGHEE ROAD, KOLKATA- 700020 CIN: L31402WBl947PLCOI4919

UNAUDITED STANDALONE FINANCIAL RESl/L TS FOR THE QUARTER ENDED 30 JUNE 2020

			3 Months	Year
Particulars	3 Monthsended	3 Monthsended	ended	ended
	30 June 2020	31 Mar, 2020	30 June 2019	31 Mar, 2020
	(Unaudited)	(Audited)	(Unaudited)	(Audited)
	Rs. Crores	Rs. Crores	Rs. Crores	Rs. Crores
		Refer note 4
I. Income
a. Revenue from Operations	1,547.62	2,055.09	2,779.25	9,856.66
b. Other Income	7.04	16.86	16.41	63.94
Total Income	1,554.66	2,071.95	2,795.66	9,920.60
2. Expenses
a. Cost of materials consumed	472.09	1,520.74	1,656.08	6,519.80
b. Purchases of stock in trade	1.67	2.53	2.57	6.17
c. Changes in inventories of finished goods,
work in progress and stock in trade	590.44	(252.96)	133.33	(259.58)
d. Employee benelits expense	139.60	158.32	166.71	666.40
c. Finance Costs	1.41	3.69	1.79	9.40
f. Depreciation and amortisation expenses	91.36	93.86	86.42	362.63
g. Other expenses	195.36	356.23	412.86	1,558.89
Total expenses	1,491.93	1,882.41	2,459.76	8,863.71
3. Profit before Exceptional Item and Tax	62.73	189.54	335.90	1,056.89
4. Exceptional item	-	-		(21.70)
5. Profit before Tax	62.73	189.54	335.90	1,035.19
6. Tax Expenses • Current	26.78	46.36	116.93	280.92
- Deferred	(8.00)	(24.82)	('i '17)	(7i 74)
-Total	18.78	21.54	111.61	209.68
7. Net Profit after Tax	43.95	168.00	224.29	825.51
8. Other Comprehensive Income
i. Items that will not be reclassified to profit or loss	3.18	{10.68)	(615)	(22.63)
ii. Income tax relating to items that will not be reclassified to profit or
loss	0.58	2.37	I.II	4.85
Total Other Comprehensive Income	3.76	(8.31)	(5.04)	(17.78)
9. Total Comprehensive Income	47.71	159.69	219.25	807.73
10. Paid up Equity Share Capital	85.00	85.00	85.00	85.00
( Face Value Re. I )
II. Other Equity				6,211.11
12. Earnings per Share (Basic and Diluted)	Re. 0.52 #	Rs. 1.97 #	Rs. 2.64 #	Rs. 9.71
# Not annuahsed .

Notes:

I. The Company's operating segments have been aggregated as a single operating segment of "Storage Batteries and Allied Product". Hence, no separate segment information is disclosed.

1. Revenue from Operations is net of trade discounts/ trade incentives.

• 1. The Company has considered the possible risk that may result from the pandemic relating to COVID-19 and expects to recover the carrying amount of all its assets including inventories, receivables, investments and other financial and non-financial assets in the ordinary course of business based on the internal and external information available upto the date of approval of these financial results. The Company is continuously monitoring any material changes in economic conditions.
• 1. The figures for quarter ended March 31, 2020 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the financial year. The published year to date figures upto the end of third quarter of the financial year were subject to Limited Review.
• 1. Previous period I year figures have been regrouped and/or re-arranged, wherever necessary.
• 1. The aforementioned results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on AU!,'1.ISt 3, 2020. The Limited Review of these results, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been completed by the Statutory Auditors of the Company.

Kolkata

By order of the/ ~ Gautam Chatterjee

August 3, 2020. Managing Director & Chief Executive Officer

Chartered Accountants

Unit No. 603, 6th Floor, Tower 1, Plot No. 6, Block- DP, Godrej Waterside, Sector V, Salt Lake, Kolkata - 700091

Telephone: +91 33 4035 4200 Fax: +91 33 4035 4295

Limited review report on unaudited quarterly standalone financial results of Exide Industries Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 ("Listing Regulations")

To Board of Directors of Exide Industries Limited

• 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Exide Industries Limited ("the Company") for the quaiter ended 30 June 2020 ("the Statement").
• 1. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Attention is drawn to the fact that the figures for the 3 months ended 31 March 2020 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit

Registered Office: 5th Floor, Lodha Excelus Apollo Mills Compound N.M. Joshi Marg, Mahalaxmi Mumbai - 400 011

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For B S R & Co. LLP

Chartered Accountants Firm's Registration No.: 101248W/W-100022

JAYANTA Digitally signed by JAYANTA MUKHOPADHYAY MUKHOPADHYAY ~~~~~i.020.os.031s,s2,07

Jayanta Mukhopadhyay Partner Membership No.055757 UDIN: 20055757 AAAACR8886

Place: Kolkata Date: 03 August 2020

EXIDE INDUSTRIES LIMITED EXIDE IIOUSE, 59E,CIIOWRINGllliE ROAD, KOLKA TA- 700020 CIN: L3t402WR1947PLC014919

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2020

88

Particulars		3 Month~		3 Months;J		3 Month1		Year f
		ended!	II	ende~		ended)	II	endedj
I'		30 June 20W		31 Mar, 20201		30 June 2019		31 Mar, 2020,
		(Unaudited		(Audited)		(Unaudited)		(AuditedX
		Rs. Crorei		Rs. CroresRefer note 5		Rs. Crores		Rs. CroreJ
tj Income
a. Revenue from Operations		2,526.11		3,474.68		I3,664.18		14,471.01
b. Other Income		11.44		8.01		27.15		61.88
Total Income		2,537.55		3,482.69		3,691.33		14,532.89
2 Expenses
a. Cost of materials consumed		508.83		1,516.61		1,660.34		6,567.39
b. Purchases of stock in trade		8.78		17.88		3.67		54.25
c. Changes in inventories of finished goods,
work in progress and stock in trade		578.81		(203 03)		143.35		(21914)
d. Employee benefits expenses	I	230.951		273.971		268.93		1,118.93
e. Finance Costsf Depreciation and amortisation expense		35.38104.78		13.6510788		29.53100.48		96.59417 SR
g. Change in valuation of liability of life insurance policies in force		537.46		195.48		384.86		1,622.86 ·.
h. Other expenses		528.49		1,313.56		822.87		3,880.66
Total expenses		2,533.48		3,236.00		3,414.03		13,539.12
3 Profit before share of loss of Equity Accounted Investees,								I'l'll77,
exceptional Item and Tax		4.07		246.69		277."lfl
Share of Profit/ (Loss) of Equity Accounted Investees		(0.08		(0.19)		-		(019)
4 Profit before Exceptional Item and Tax		3.99		246.50		277.30		993.58
5 Exceptional item		-				-		(21.70)
6 Profit before Tax		3.99		246.50		277.30		971.88 -
7 Tax Expenses - Current		26.82		46.26		119.02		288.02 •
- Deferred		(927		(35.33)		(330		(78 62)
-Total		17.55		10.93		115.72		209.40
8 Net Profit/(Loss) after Tax		(13.56]		235.57		161.58		762.48;
9 Other Comprehensive Income
i. Items that will not be reclassified to profit or loss		56.01		(138.99)		I.II		(118.29)
ii. Income tax relating to items that will not be reclassified to profit orloss		0.60		2.49		I.II		4.97:
iii. Items that will be reclassified to profit or loss		117.96		94.20		129.64 i		199.14
Total Other Comprehensive Income		174.57		(42.30)		131.86		85.82'
10. Total Comprehensive Income		161.01		193.27		293.44'		848.30
11. Paid up Equity Share Capital( Face Value Re. 1 )		85.00		85.00		85.00 i		85.00'
12 Other Equity						!		6,382.32
13. Earnings per Share (Basic and Diluted)		(Re 0 13) II		Rs. 2.92	II	iRs. 1.90 ! II		Rs. 9.14
# Not annualised .
A.: Profit/(Loss) for the year attributable to:		'				1
Owners of the CompanyNon-controlling interests		(IQ68(2.88		248.4')(12.90		161.87:(0.29),		776.7'(14.27
B. Other comprehensive income for the year attributable to:
Owners of the CompanyNon-controlling interests		174.5		(42.30.		13l.8E-		85.82
C Total comprehensive income for the year attributable to:
Owners of the Company		1638\1		206 .l		293.73		862.5
Non-controlling interests		(2.88:X		(IZ 90]		(0.29		(14 27

Notes:

I. Revenue from operations is net of trade discounts/ trade incentives.

2. Segment Jnfom10tion

	3 months ended	3 months ended	3 months ended	Year ended 31
	30 June 2020	31 March 2020	30 June 2019	March 2020
	(Unaudited)	(Audited)	(Unaudited)	(Audited)
	Rs. Crores	Rs. Crores	Rs. Crores	Rs. Crores
		Refer note 5
A. Segment Revenue
Storage batteries & allied products∤a)	1,598.87	2,132.90	2,837.42	10,162.25
Life Insurance businessb)	925.23	1,341.78	818.04	4,287.56
Otherslc)	2.01		8.72	21.20.
Revenue from operations	2,526.11	3.474.68	3,664,18	14,471,01
B. Segment Results: Profit/(Loss) before tax
Storage batteries & allied productsa)	43.01	129.68	319.31	971.81
Life Insurance businessb)	(44.35)	114.86	(65.37)	(15.31)
Others c)	(0.67)		(0.05)	(8.47)
Total	(2.01)	244.54	253.89	948.03.
Add:
Other Income	11.44	8.01	27.15	61,88
Less:
Finance cost	5.44	حمہ	3.74	16.33
Profit before Exceptional Item and Tax	3.99	246.50	277.30	993.58
Exceptional item				(21.70)
Total Profit before tax	3.99	246.50	222.30	971.88
A. Segment Assets
Storage batteries & allied products{a}	5,951.73	6,565.52	6,170.98	6,565.52
Life Insurance businessIU)	16,278.51	15,563.28	14,342.60	15,563.28
Otherslc)	32.20	14.86	16.56	14.86
d)Unallocated	3.003.06	2 2 2 3 9 3	2.390.56	2.223.93.
Total assets	25.265.50	24,367.59	22.920.70	24.367.59.
B. Segment Liabilities
Storage batteries & allied productsla)	2,294.84	2,120.50	1,978.69	2,120.50
Life Insurance businessb)	16,084.96	15.537.28	14,251.08	15,537.28
Otherslc)	17.89	16.45	16.24	16.45
d)Unallocated	192.54	179.10	241.39	179.10
Total liabilities	18.590.23	17.853.33	16,487.40.	17,853,33.

1. The Group has assessed the impact ofCOVID-19 on the operations as well as the financial results of Exide Life Insurance Company Limited (ELI), a subsidiary, including but not limited to the areas of valuation of investment assets, valuation of policy liabilities and solvency, for the quarter ended June 30, 2020, based on inputs currently available with ELI. The extent to which COVID-19 pandemic will affect ELi's perfonnance particularly in the areas of revenue, claims, carrying value of investments, solvency margin etc. will depend on future developments, which are presently uncertain. The Group will continue to monitor any future changes to the business and financial results of ELI due to COVID-19.

• 1. Apart from the management's assessment pertaining to ELI as stated in note 3 above, the Group has also considered the possible risk that may result from the pandemic relating to COVID-19 for the remaining components of the Group and expects to recover the carrying amount of all its assets including inventories, receivables. investments and other financial and non-financial assets in the ordinary course of business based on the internal and external infonnation available upto the date of approval of these consolidated financial results. The Group is continuously monitoring any material changes in economic conditions.
• 1. The figures for quarter ended March 31, 2020 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the financial year. The published year to date figures upto the end of third quarter of the financial year were subject to Limited Review.
• 1. Previous period / year figures have been regrouped and/or re-arranged, wherever necessary.
• 1. The aforementioned results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on August 3, 2020. The Limited Review of these results, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been completed by the Statutory Auditors of the Parent Company.

By order of tl~rd Lu~~

Kolkata Gautam ChatterJee August 3, 2020. Managing Director & Chief Executive Officer

..

Chartered Accountants

Unit No. 603, 6th Floor, Tower 1, Plot No. 6, Block- DP, Godrej Waterside, Sector V, Salt Lake, Kolkata - 700091

Telephone: +91 33 4035 4200 Fax: +91 33 4035 4295

Limited review report on unaudited quarterly consolidated financial results of Exide Industries Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 ("Listing Regulations")

To

Board of Directors of Exide Industries Limited

• l. We have reviewed the accompanying Statement of unaudited consolidated financial results ofExide Industries Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together reierred to as "the Group"), and its share of the net loss after tax and total comprehensive income ofils associales for the quarler ended 30 June 2020 ("lhe Slalement"), being subrnitled by the Parenl pursuant to the requirements of Regulation 33 of the Listing Regulations.
• 1. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the lndependentAuditorofthe Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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

1. The Statement includes the results of the following entities:

Subsidiaries:

• a. Chloride International Limited
• b. Chloride Power Systems & Solutions Limited
• c. Chloride Metals Limited
• d. Exide Leclanche Energy Private Limited
• e. Exide Life Insurance Company Limited
• f. Chloride Batteries S.E. Asia Pte Limited and it's wholly owned subsidiary [Exide Batteries (Pvt) Limited]
• g. Espex Batteries Limited
• h. Associated Battery Manufacturers (Ceylon) Limited

BSR & Co. LLP (a partnership firm with Registration No. BA61223) converted into BS R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

Registered Office: 5th Floor, Lodha Excelus Apollo Mills Compound N.M. Joshi Marg, Mahalaxmi Mumbai - 400 011

Associates:

• i. CSE Solar Sunpark Maharashtra Private Limited
• j. CSE Solar Sunpark Tamilnadu Private Limited
• k. Greenyana Solar Private Limited
• 1. Attention is drawn to the fact that the figures for the 3 months ended 31 March 2020 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third qumter of the previous financial year. The figures up to the end of the third qumter of previous financial year had only been reviewed and not subjected to audit.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review rep01ts of the other auditor referred to in paragraph 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosecl, or that it contains any material misstatement.
• 1. The auditors of Exide Life Insurance Company Limited ("ELI"), a subsidiary, have drawn attention to Note 3 of the accompanying consolidated unaudited financial results, which explains the uncertainties and the Management's assessment of the likely impact on the financial information including on valuation on assets, liabilities and solvency due to COVID-19 pandemic, for which a definitive assessment is highly dependent upon circumstances as they evolve in the subsequent period.

Our conclusion is not modified in respect of this matter.

1. We did not review the interim financial information of one subsidiary included in the Statement, whose interim financial information reflect total revenues of Rs 925.38 crores (before consolidation adjustments), total net loss after tax of Rs 44.36 crores (before consolidation adjustments) and total comprehensive income of Rs 123.94 crores (before consolidation adjustments) for the quarter ended 30 June 2020, as considered in the Statement. This interim financial information have been reviewed by other auditors whose reports have been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the repo1ts of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matter.

1. The Statement includes the interim financial information of seven subsidiaries which have not been reviewed, whose interim financial information reflect total revenue of Rs. 228. 71 crores (before consolidation adjustments), total net loss after tax of Rs. 14.98 crores (before consolidation adjustments) and total comprehensive loss of Rs. 15.03 crores (before consolidation adjustments) for the quarter ended 30 June 2020 as considered in the Statement. The Statement also includes the Group's share of net loss after tax of Rs. 0.08 crore and total comprehensive loss of Rs. 0.08 crore for the quarter ended 30 June 2020, as considered in the Statement, in respect of three associates, based on their interim financial information which have not been reviewed. According to the information and explanations given to us by the management, these interim financial information are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

IO. The auditors of ELI have reported that the actuarial valuation ofliabilities for life policies in force and for policies in respect of which premium has been discontinu<:ld but liability exists as at 30 June 2020, is the responsibility of the Company's Appointed Actuary. The actuarial valuation of these liabilities has been duly certified by the Appointed Actuary and in his opinion the assumptions for _such valuation are in accordance with the guidelines and nonns issued by the Insurance Regulatory Development Authority ('IRDAJ') and the Institute of Actuaries ofindia in concurrence with the IRDAI. The auditors of ELI have relied upon the Appointed Actuary's certificate in this regard during their review of the valuation of these liabilities as contained in the interim financial information of ELL

Our conclusion on the Statement is not modified in respect of the above matter.

For BS R& Co. LLP Chartered Accountants Firm's Registration No.: l O 1248W /W-100022

JA YANT A Digitally signed by JAYANTA MUKHOPADHYAY MLJKHQPADHYAY Date:2020.08.0315:50:50+05'30'

Jayanta Mukhopadhyay Partner Membership No: 055757 UDIN: 20055757AAAACS9762

Place: Kolkata Date: 03 August 2020

PRESS RELEASE

EXIDE REPORTS NET PROFIT OF RS. 43.95 CRORES FOR THE FIRST QUARTER OF 2020 -21

Kolkata, August 03, 2020: Exide Industries Limited, on Monday reported Net Turnover for the quarter ended June 30, 2020, of Rs. 1,547.62 crores as compared to Rs. 2,779.25 crores during the quarter ended June 30, 2019. Profit Before Tax and Profit After Tax were Rs. 62.73 crores and Rs. 43.95 crores for the quarter ended June 30, 2020 as comp::ired to Rs. 115.90 crores and Rs. 224.29 crores respectively during corresponding quarter of previous year.

Mr G Chatterjee, MD & CEO, said that the onset of COVID-19 pandemic and the consequent lockdowns to curb its spread caused severe disruption in manufacturing, supply chain, and sales & distribution operations of the Company. This has caused an adverse impact on its sales as \Vell as profitability during the quarter.

The manuiacturmg operations were resumed only in mid-May and thereafter scaled up. The Company responded with agility, speed and resilience, together with a structured process of proactive planning, to operate in the 'new normal'. A series of concerted actions were taken to realign the distribution infrastructure so as to respond to the multiple challenges arising out of restricted mobility of people and goods, curbs on working hours and outlet operations.

The Company's employees, trade pmtners, transp01ters and their associates were provided extensive training - both online and at the place of work - in social distancing and personal protection.

During the quarter, while OEM demand for automotive batteries remained subdued, there was a surge in demand for trade sales of automotive and UPS batteries. Business volumes of other institutional segments are gradually picking up.

The Company is focussing on Cost Control and Technology upgradation as strategies to improve the bottom-line.

GCHATTERJEE Managing Director & Chief Executive Officer Exide Industries Limited

Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone: (033) 2302-3400, Fax: (033) 2283-2642/37 e-mail : exideindustrieslimited@exide.co.in, www.exideindustries.com CIN: L31402WB1947PLC014919