GEE Ltd. — Annual Report 2024

May 30, 2024

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Date: 30.05.2024

To, Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Fort, Mumbai-400001

Scrip Code: 504028

Subject: Outcome of the Board Meeting held on 30[th] May, 2024

Respected Sir/Madam,

Pursuant to Regulation 30 and 33 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; it is hereby informed that the Board of Directors, today at their meeting, inter-alia transacted the following:

1. Considered and approved Audited Financial Results of the Company for the quarter and year ended as on March 31, 2024 and took on record the Audit Report given by Statutory Auditor of the Company in this behalf. A copy of same is enclosed herewith as Annexure - A .

2. Declaration regarding unmodified opinion on the Audited Financial Results is attached as Annexure - B .

The meeting started at 6:30 P.M. and ended at 7:25 P.M.

Please take the above on records and oblige.

For GEE LIMITED

SHANKAR Digitally signed by SHANKAR LAL LAL AGARWAL Date: 2024.05.30 AGARWAL 19:33:02 +05'30'

Shankar Lal Agarwal Whole-Time Director DIN: 01205377

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ANNEXURE - B

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Date: 30.05.2024

To, Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Fort, Mumbai-400001

Scrip Code: 504028

Subject: Declaration pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016.

Dear Sir/Madam,

Pursuant to SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016, we hereby declare that M/s. R. DOKANIA & CO., Chartered Accountants, Statutory Auditors of the Company have expressed an unmodified opinion in respect of financial results for the quarter and financial year ended on March 31, 2024.

Please take the above on records and oblige.

For GEE LIMITED

SHANKAR Digitally signed by SHANKAR LAL LAL AGARWAL Date: 2024.05.30 AGARWAL 19:33:38 +05'30'

Shankar Lal Agarwal Whole-Time Director DIN: 01205377

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GEE LIMITED
CIN : L99999MH1960PLC011879
Registered office : Plot No. E-1, Road No.
Wagle Ind. Estate, Thane – 400 604
Email : shares@geelimited.com
Tel : 02522-280358, Fax : 02522-281199
Statement of Audited Financial Results for the Quarter and Year ended 31st March, 2024
Rs. in Lakhs (except earnings per share)
Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended
S.No Particulars
31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23
Audited Unaudited Audited Audited Audited
Income
I. Revenue from operations 9,190.59 8,461.26 9,955.18 36,914.30 39,566.18
II. Other income 46.92 5.41 32.90 72.91 133.24
III. Total income (I+II) 9,237.51 8,466.67 9,988.08 36,987.20 39,699.42
IV. Expenses
Cost of Raw materials consumed 6,926.07 6,572.29 8,314.96 28,955.59 30,615.07
Purchase of stock in trade 188.21 0.89 41.68 450.76 218.92
Changes in inventories of finished goods, work-in- -16.96 -254.35 -479.05 -1,065.11 -165.29
progress and stock-in-trade
Employee benefit expense 598.30 467.50 568.25 1,954.55 2,043.29
Finance costs 179.98 299.81 359.85 816.78 894.70
Depreciation and amortisation expense 95.97 101.82 107.36 401.00 420.15
Other Expenses 1,065.37 791.77 1,399.64 3,666.95 4,518.43
Total Expenses (IV) 9,036.95 7,979.73 10,312.69 35,180.51 38,545.25
V. Profit /(Loss) before Tax (III-IV) 200.56 486.94 -324.61 1,806.69 1,154.17
VI. Less-:Exceptional items
VII. Profit /(Loss) after Exceptional Item before Tax 200.56 486.94 -324.61 1,806.69 1,154.17
(V-VI)
VIII. Tax Expense
Current tax 128.62 122.56 -114.24 532.88 366.51
Previous Year Tax 0.19 0.00 0.94 0.19 0.94
Deferred tax -11.96 0.00 26.44 -11.96 -64.22
116.86 122.56 -86.86 521.12 303.23
IX. Profit /(Loss) for the period (VII-VIII) 83.71 364.37 -237.75 1,285.57 850.94
X. Other Comprehensive Income -1.07 0.20 18.79 -0.53 19.05
Items that will not be reclassified to Profit /
A
(Loss) (net of tax)
a) Remeasurement of defined benefit plan -2.60 0.00 11.18 -2.60 11.18
1.35 0.20 14.01 1.89 14.27
b) Equity instrument through Other Comprehensive Income
c) Income tax relating to above items 0.18 0.00 -6.41 0.18 -6.41
Total Comprehensive Income for the 82.63 364.57 -218.96 1,285.04 869.99
XI.
Period/year(IX+X)
Paid-up equity share capital, Equity shares of Rs. 519.77 519.77 519.77 519.77 519.77
XII.
2/- each
XIII. Other Equity excluding Revaluation Reserve 12,610.55 11,321.54
Earnings per equity share (in Rs.)
Basic earnings/(loss) per share 0.32 1.40 -0.91 4.95 3.26
Diluted earnings (loss) per share 0.32 1.40 -0.91 4.95 3.26
Details of equity share capital
For Gee Limited
SANWARMAL AGARWAL Digitally signed by SANWARMAL AGARWAL Date: 2024.05.30 19:26:12 +05'30' SHANKAR LAL AGARWAL Digitally signed by SHANKAR LAL AGARWAL Date: 2024.05.30 19:29:04 +05'30'
Sanwarmal Agarwal Shankar Lal Agarwal
Managing Director Whole-time Director
DIN:01007594 DIN: 01205377
Place:Thane
Date:30/05/2024
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GEE LIMITED CIN : L99999MH1960PLC011879 Registered office : Plot No. E-1, Road No. Wagle Ind. Estate, Thane – 400 604 Email : shares@geelimited.com Tel : 02522-280358, Fax : 02522-281199

Notes:

• 1.These financials have been prepared in accordance with the recognition and measurement principles laid down in IND AS 34 Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder.

• 2.Results for the quarter & Year ended 31st March 2024 are in compliance with Indian Accounting Standards (Ind-AS) notified by the Ministry of Corporate of Affairs

• 3.In term of IND AS 108, the Company is having single reportable segment i.e “manufacturing of welding consumables, copper coated wires, flux cored wires and welding fluxes”.

• 4.The figures for the quarter ended 31 March 2024and 31 March 2023 are the balancing figures between the audited financial statements for the years ended as on that date and the year to date figures upto the end of third quarter of the respective financial years on which auditors had performed a limited review.

• 5.Previous year's/period’s figures have been regrouped or reclassified wherever necessary

• 6.The results would be uploaded and available for viewing on the Company’s website www.geelimited.com and on the website of BSE Limited.

For Gee Limited

SANWARMA Digitally signed by SANWARMAL AGARWAL L AGARWAL Date: 2024.05.30 19:26:43 +05'30'

SHANKAR LAL Digitally signed by SHANKAR LAL AGARWAL AGARWAL Date: 2024.05.30 19:29:28 +05'30'

Sanwarmal Agarwal Shankar Lal Agarwal Managing Director Whole-time Director DIN:01007594 DIN: 01205377 Place:Thane Date:30/05/2024

GEE LIMITED CIN : L99999MH1960PLC011879 Reg. Off : Plot No E-1, Road No 7, Wagle Industrial Estate, Thane, MH - 400604. Statement Of Profit And Loss for the year ended 31st March 2024

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In Lacs In Lacs
Note
Particulars Year Ended Year Ended
No
March 2024 March 2023
I Revenue from Operations 30 36,914.30 39,566.18
II Other Income 31 72.91 133.24
III Total Income ( I + II ) 36,987.20 39,699.42
IV Expenses:
Cost of Materials Consumed 32 28,955.59 30,615.07
Purchase of Stock in Trade 33 450.76 218.92
Changes in Inventories of Finished goods, Stock in Trade and
Work In Progress 34 (1,065.11) (165.29)
Employee Benefits Expenses 35 1,954.55 2,043.29
Finance Costs 36 816.78 894.70
Depreciation and amortization expense 37 401.00 420.15
Other Expenses 38 3,666.95 4,518.43
Total Expenses (IV) 35,180.51 38,545.26
V Profit before exceptional items &Taxes ( III - IV ) 1,806.69 1,154.17
VI Exceptional Items - -
VII Profit Before Tax (V - VI) 1,806.69 1,154.17
VIII Tax Expense: 39
Current Tax 532.88 366.51
Previous Years Tax 0.19 0.94
Deferred Tax (11.96) (64.22)
Total Tax Expense 521.12 303.22
IX Profit after Tax ( VII - VIII ) 1,285.57 850.94
X Other Comprehensive Income (Net of tax)
(i) Items that will not be reclassified to profit or loss
Remeasurement of defined benefit of long term plan (2.60) 11.18
Revaluation of Non-Current investment through OCI 1.89 14.27
(ii) Income tax effect on the above 0.18 (6.41)
Other Comprehensive Income for the year (net of tax) (0.53) 19.05
XI Total Comprehensive Income for the year ( VIII + IX ) 1,285.04 869.99
XII Earning Per Equity Share (Face value of Rs. 2/- each)
Basic & Diluted 40 4.95 3.26
Significant accounting policies 1
Notes to Accounts 2-57
Significant Accounting Policies and Notes attached thereto form an integral part of the Financial Statements.
For Gee Limited
SANWARMA Digitally signed by SANWARMAL AGARWAL SHANKAR LAL Digitally signed by SHANKAR LAL AGARWAL
L AGARWAL Date: 2024.05.30 19:27:00 +05'30' AGARWAL Date: 2024.05.30 19:29:45 +05'30'
Sanwarmal Agarwal Shankar Lal Agarwal
Managing Director Whole-time Director
DIN:01007594 DIN: 01205377
Place:Thane
Date:30/05/2024
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GEE LIMITED
CIN : L99999MH1960PLC011879
Registered office : Plot No. E-1, Road No.
Wagle Ind. Estate, Thane – 400 604
Email : shares@geelimited.com
Tel : 02522-280358, Fax : 02522-281199
Statement of Audited Financial Results for the Quarter and Year ended 31st March, 2024
Rs. in Lakhs (except earnings per share)
Statement of Assets & Liabilities
As at,March As at,March
Particulars 31,2024 31,2023
Audited Audited
Asset
Non Current Assets
Property, Plant and Equipment 8,757.75 5,740.85
Capital work-in-progress 1.00 34.74
Investment Property 2,417.84 2,417.84
Other Intangible Assets 3.97 9.67
Right of Use Assets 5,963.97 6,123.78
Financial Assets
i) Investments 18.06 16.18
ii) Other financial assets 189.22 193.43
Non Current Tax Assets 144.46 63.99
Other Non-Current Assets 310.03 313.46
Current Asset
Inventories 8,920.17 8,722.95
Financial Assets
i) Trade Receivables 5,099.53 7,255.38
ii) Cash and cash Equivalents 36.97 223.38
iii) Bank balance other than above 36.06 24.59
iv) Loans 14.07 18.98
v) Others 30.11 37.13
Current tax assets [Net] 0.00 81.52
Other Current Assets 412.32 683.41
Total Assets 32,355.53 31,961.28
Equity & Liabilities
Equity
Equity Share Capital 519.77 519.77
Other Equity 19,909.06 18,780.41
Total Equity 20,428.83 19,300.18
Non-Current Liabilities
Financial Liabilities
Borrowings 1,090.00 1,172.56
Other Financial Liabilities
Provision 39.75 56.04
Deferred Tax Liabilities [Net] 228.49 240.63
Current Liabilities
Financial Liabilities
i) Borrowings 7,071.37 7,543.63
ii) Trade Payables
Total outstanding dues of micro and small 523.66 667.54
enterprises
Total outstanding dues of creditors other 1,858.32 1,971.07
than micro and small enterprises
iii) Other 524.12 298.89
Other Current Liabilities 405.78 631.76
Provision 67.65 78.97
Current Tax Liabilities [Net] 117.55 0.00
Total Liabilities 11,926.69 12,661.09
Total Equity And Liabilities 32,355.53 31,961.28
For Gee Limited
SANWARMAL AGARWAL Digitally signed by SANWARMAL AGARWAL Date: 2024.05.30 19:27:17 +05'30' SHANKAR LAL AGARWAL Digitally signed by SHANKAR LAL AGARWAL Date: 2024.05.30 19:30:07 +05'30'
Sanwarmal Agarwal Shankar Lal Agarwal
Managing Director Whole-time Director
DIN:01007594 DIN: 01205377
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Place:Thane Date:30/05/2024

GEE LIMITED

	GEE LIMITED	GEE LIMITED	GEE LIMITED
	Cash Flow Statement for the year ended 31st March, 2024
				Amount in Lacs
	Particulars			Year ended
			March 31, 2024		March		31, 2023
**A **	Cash flows from operating activities:
	Profit before tax		1,806.69				1,154.17
	Adjustments for:
	Depreciation and Amortisation expenses			401.00			420.15
	Impairment allowances of Doubtful Debts/ Advances			-72.37			209.16
	Finance Cost			816.78			894.70
	Loss/ (profit) on sale of Property, Plant and Equipment			8.02			10.67
	Bad debts written off / (recovered)			146.09			70.79
	Sundry Balances written back			(33.68)			(20.75)
	Provision for obsolete / Non-moving Inventory			17.50			23.98
	Unrealised Foreign Exchange gain (net)			0.00			(2.87)
	Dividend Income			-0.29			0.00
	Rent Income			(6.00)			(6.00)
	Interest Income			(16.69)			(26.06)
	Total		1,260.37				1,573.76
	Operating profit before working capital changes		3,067.06				2,727.92
	Adjustments for:
	[Increase]/Decrease in trade receivables		2,074.50			-1,968.45
	[Increase]/Decrease in Inventories			(214.72)		(1,631.40)
	[Increase]/ Decrease in Loans			-4.91			20.48
	[Increase]/ Decrease in other assets			286.58			889.45
	Increase/[Decrease] in trade payables			-226.14			488.36
	Increase/[Decrease] in Other Liabilities & Provisions			-64.52			55.91
	Total		1,850.78			(2,145.64)
	Cash generated from operations		4,917.84				582.28
	Direct taxes paid [Net of refunds]			(400.00)			(483.10)
	Net cash from operating activities		4,517.84				99.18
**B **	Cash flows from investing activities:
	Purchase of Property, Plant and Equipment		(3,397.71)				(130.14)
	Sale of Property, Plant and Equipment			14.65			14.75
	Advance for Investment Property			0.00			(51.52)
	Redemption/ (Investments) in Fixed deposits / Margin money (net)			(11.47)			-3.28
	Dividend Income			0.29			-
	Rent Income			6.00			6.00
	Interest Income			15.75			26.16
	Net cash used in investing activities		(3,372.49)				(138.03)
**C **	Cash flows from financing activities:
	Proceeds from Long Term Borrowings			-			-
	Repayment of Long Term Borrowings			(82.56)			(62.15)
	Proceeds/ (Repayment) of Short Term Borrowings (net)			-472.26			1,083.74
	Interest paid			(776.94)			(844.59)
	Net cash used in financing activities		-1,331.76				177.00
	Net increase in cash and cash equivalents			-186.41			138.15
	Cash and cash equivalents at the beginning of the year			223.38			85.23
	Cash and cash equivalents at the end of the year			36.97			223.38

Notes to the Cash Flow Statement

1 2 Figures in bracket indicates outflows. 3 Previous year's figures have been restated and regrouped wherever necessary. 4 Cash and cash equivalents comprise of: a Cash on Hand b Cheques in Hand c Balances with Banks Total Cash Flow Statement has been prepared under the 'Indirect Method' as set out in the Indi	a	March 31, 2024 9.91 - 27.06 36.97 n Accounting Stan As	March 31, 2023 4.56 106.55 112.27 223.38 dard (IND AS 7). at

As per IND AS-7, the Company is required to provide disclosures that enable user's of financial statements to evaluate changes in Liabilities arising from financing activities, including both changes arising from cash flows and non cash changes. The Company did not have any material impact of the statement of cash flows therefore reconciliation has not been given.

Significant Accounting Policies 1 Notes to Accounts Significant Accounting Policies and Notes attached thereto form an integral part of the Financial Statements For Gee Limited SANWARMA Digitally signed by SANWARMAL AGARWAL SHANKAR LAL Digitally signed by SHANKAR LAL AGARWAL L AGARWAL Date: 2024.05.30 19:27:37 +05'30' AGARWAL Date: 2024.05.30 19:30:24 +05'30' Sanwarmal Agarwal Shankar Lal Agarwal Managing Director Whole-time Director DIN:01007594 DIN: 01205377 Place:Thane Date: 30-05-2024

SANDEEP Digitally signed by SANDEEP AGARWAL AGARWAL Date: 2024.05.30 19:00:11 +05'30'

SANDEEP Digitally signed by SANDEEP AGARWAL AGARWAL Date: 2024.05.30 19:00:33 +05'30'

SANDEEP Digitally signed by SANDEEP AGARWAL AGARWAL Date: 2024.05.30 19:01:55 +05'30'

SANDEEP Digitally signed by SANDEEP AGARWAL AGARWAL Date: 2024.05.30 19:02:19 +05'30'