Foseco India Ltd — Interim / Quarterly Report 2023

May 3, 2023

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May 3, 2023

BSE Limited National Stock Exchange of India Limited Listing Department, Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5[th] Floor, Dalal Street, Plot No. C/1, G Block, Mumbai 400 001 Bandra Kurla Complex, Bandra (East), Mumbai-400 051

Dear Sirs,

Sub: 1. Unaudited Financial Results for the quarter ended March 31, 2023

2. Submission of the Limited Review Report of the Statutory Auditors

Ref: BSE Scrip Code: 500150, NSE Symbol: FOSECOIND, ISIN: INE519A01011

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we write to advice that the Board of Directors of the Company at its Meeting held on May 3, 2023 has approved the Unaudited Financial Results of the Company for the quarter ended March 31, 2023.

In this regard, we are submitting herewith the following documents:-

• 1) The Unaudited Financial Results of the Company for the above period; and

• 2) The Limited Review Report of the Statutory Auditors on the Financial Results.

The Meeting of the Board of Directors commenced at 1815 hours and concluded at 2000 hours.

You are requested to take the above information on record.

Thanking you,

Yours faithfully, For FOSECO INDIA LIMITED

MAHENDRA Digitally signed by MAHENDRA KUMAR DUTIA KUMAR DUTIA Date: 2023.05.03 20:06:58 +05'30'

Mahendra Kumar Dutia Controller of Accounts and Company Secretary

Enclosing: as above

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FOSECO

Foseco India Limited

Tele: +Registered Office: Gal Nos. 922 & 923. Sanaswad1, Taluka Shirur, District Puna - 412208 91 2137 668100, Fax: +91 2137 668160 Website: www.fosecoindia.com, E-mail ID: investor.grievance@vesuvius.com Corporate Identity Number. L24294PN1958PLC011052

Statement of unaudited financial re sults for the quarer ended 31 March, 2023 Sr. Pariculars Current 3 months ended No. 31-ar-2023 Unaudited 1I Income from Oparalons I a Re·,enue fro opratons 11,094.50 b Oe<Ue 520,72 Total Income from Oper.tions (a to b) 11,615.22 2 Expenses	Statement of unaudited financial re sults for the quarer ended 31 March, 2023 Sr. Pariculars Current 3 months ended No. 31-ar-2023 Unaudited 1I Income from Oparalons I a Re·,enue fro opratons 11,094.50 b Oe<Ue 520,72 Total Income from Oper.tions (a to b) 11,615.22 2 Expenses	Statement of unaudited financial re sults for the quarer ended 31 March, 2023 Sr. Pariculars Current 3 months ended No. 31-ar-2023 Unaudited 1I Income from Oparalons I a Re·,enue fro opratons 11,094.50 b Oe<Ue 520,72 Total Income from Oper.tions (a to b) 11,615.22 2 Expenses	Statement of unaudited financial re sults for the quarer ended 31 March, 2023 Sr. Pariculars Current 3 months ended No. 31-ar-2023 Unaudited 1I Income from Oparalons I a Re·,enue fro opratons 11,094.50 b Oe<Ue 520,72 Total Income from Oper.tions (a to b) 11,615.22 2 Expenses	Statement of unaudited financial re sults for the quarer ended 31 March, 2023 Sr. Pariculars Current 3 months ended No. 31-ar-2023 Unaudited 1I Income from Oparalons I a Re·,enue fro opratons 11,094.50 b Oe<Ue 520,72 Total Income from Oper.tions (a to b) 11,615.22 2 Expenses	Statement of unaudited financial re sults for the quarer ended 31 March, 2023 Sr. Pariculars Current 3 months ended No. 31-ar-2023 Unaudited 1I Income from Oparalons I a Re·,enue fro opratons 11,094.50 b Oe<Ue 520,72 Total Income from Oper.tions (a to b) 11,615.22 2 Expenses	Statement of unaudited financial re sults for the quarer ended 31 March, 2023 Sr. Pariculars Current 3 months ended No. 31-ar-2023 Unaudited 1I Income from Oparalons I a Re·,enue fro opratons 11,094.50 b Oe<Ue 520,72 Total Income from Oper.tions (a to b) 11,615.22 2 Expenses	(A figures in Rupees Lakhs)	(A figures in Rupees Lakhs)	(A figures in Rupees Lakhs)	(A figures in Rupees Lakhs)	(A figures in Rupees Lakhs)
					Current 3 months ended 31-ar-2023 Unaudited 11,094.50 520,72			Preceding Corresponding Previous 3 months ended 3 months endedAccounting Year In the previous Ended year 31-0ec-2022 31-Mar-2022 31-Dec-2022 Unaudited Unaudited Audited tb-'·r note-21 10,570.68 9,873,77 40,673.51 194.22 246.65 748,11		ng ded us	Previous Accounting Year Ended
										2 31-Dec-2022 Audited ,77 40,673.51
					11,615.22			10,764.90 10,120.42 41,421.62
a b C d e f g	Cost ol malenals consume 5.97107 5,324.68 Purchase of slO u, trade 443,85 392.12 Changes in 1nven1oes of fiished gods, wOk-n.progress (469.37) 228.42 and st-,n-lade Empoy bnft expn 1,455.57 1,183.10 Fune csts . - Oepreciab and abn expnse 156.20 374.32 Or exnss 2,144.08 1,636.74								5.385,36 21,605,94 290,53 1,360.45 (117.19) (78.62) 1,067.00 4,433.76 . . 162.34 890,21 1,720,20 7,076.81
Tot	al Expen.s (a to g)					9,701.40 9,139.38			8,508.24 35,288.55
3 Pro	fit before t					1,913.82 1,625.52			1,612.18 6,133.07
4 Tax	Expanse
	.Current Tax (net)	505.67 492.84							369.16		1,659.00
	~~-~~ Deferred Tax carge/ (cedrt)	(15.51) (41.12)							20.67		(70.86)
	~~-~~ Pno year tx adJusltents	. (51.89) -									(51.89)
Tot	al Tax Expanse	490.16 399.83							389.83		1,536.25
5 Net	Profit for the Period/ Year	1,423.66 1,225.69							1,222.35		4,596.82
6 Oth	er comprehensive income, net of inc a Items tnt will not be redassfied to	ome tax
		proft or loss
Tot	I Remeasurement of define emply benefrt plans (12.87) (74.42) 19,67 II Tax reabng to remeasuremet of defd benefit plan 3.24 18.73 (4.95)										(15.41) 3.88
	al other comprehensive income, net of Income		tax (9.63) (55.69) 14.72								(11.53)
7 Total comprehensive Income for the period/ year 8 Paid up Equity Share Capital (Fae. Value Rs. 10/- 9 Earnings par equity diare (not annualised) Basic and diluted earings per share (in Rs.) 10 Reseres excluding Revaluation Ruere as per A Balance Sheet of Previous Accounting Year			(5 +/- 6) 1,414.03 1,170.00 1,237.07 4,585.29 per share) 638.65 638.65 638.65 638.65								4,585.29
			udited	22.2			9 19.19 19.14 71.98
							23,262.96

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NOTES:

• The results have been reviewed by the Audit Committee and approved by the Company's Board of Directors at their respective meetings held on 3rd May, 2023. The Slatutory Auditors have conducted a limited review of the financial results for the period ended 31 March, 2023 and have issued an unmodified report

• 2 Figures for the p<eceding 3 months ended 31 December, 2022 are the balancing figures between audited figures in respect of full previous financial year 31 December, 2022 and the published year to date figures up to third quarter ended 30 September, 2022. These figures have been approved by the Board of Directors, but have not b e n subJ<ICtad to review/ audit by the auditors.

• 3 The Company has orvy one reportable segmen� melallurgical p<oducts and services, in accordance with Ind AS 108 - "Operating Segments", nobfied pursuant lo the Companies (Indian Accounting Standards) Rules, 2015.

• 4 On 19th Apnl 2023. the Company SWTendered the lease-hold land situated at Akurdi, Chinchwad, Pune together with the structure standing thereon on ·as is where 1s" basis as regards the physical at t ribu es thereof, to Greaves Cotton Limited ("the Lessor") and terminated the leases against a total consideration of Rs. 1.200 lakh plus applicable taxes. The said lease-hold land was held by the Company but was lying vacant and hence the leases ,.ere terminated. The consideration received on the said lease-hold land is accounted as an income in the month of April 2023 which will be reflected in the quarterly results ending on 30th June 2023.

• 5 The Company conlorlues to investigate the cyber incident reported earlier on February 6. 2023 followed by an update on March 2, 2023, being assisted by leading cyber seCIJflty experts. Our manufactunng and IT systems are working normally. There was no impact assessed on the financial performance of the Company for the quarter ended March 31, 2023, and management does not currently expect any financial, legal, or regulatory impact o/ lhe incident reported here,n on the aforesaid financial statements of the Company

• 6 PrevK>Us penod's f.qures have been redas�fied. wherever necessary, to conform with current period's classification.

For FOSECO INDIA LIMITED

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Date : 3rd Mav, 2023 Prasad Chavare Place : Puduchenv Managing Director & Chief Executive Officer DIN : 08846863

Price Waterhouse Chartered Accountants LLP

Review Report

To The Board of Diredors Foseco India Limited Gat Nos. 922 and 923, Sanaswadi, Shirur Taluka, Pune - 412208 Maharashtra, India

1. We have reviewed the unaudited financial results of Foseco India Limited (the "Company") for the quarter ended March 31, 2023, which are included in the accompanying 'Statement of unaudited results for the quarter ended March 31, 2023' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes.

2. 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. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016

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Place: Pune Date: May 03, 2023

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