AI assistant
Gujarat Raffia Ind. Ltd. Interim / Quarterly Report 2021
63743_rns_2021-06-29_e243aebc-6311-46d6-821d-a1b1e71fa9c7.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
CIN: L17110GJ1984PLC007124
Regd. Off: Plot No. 455, Santej-Vadasar Road, Village: Santej Taluka: Kalol - 382721 Phone.:(91- 79) 29702373/29702606 Fax: (91-79) 79 -29702614 Web Site: www. griltarp.com E-mail: [email protected]
Date: June 29, 2021
To, General Manager Manager Department of Corporate Services, Listing Department Dalal Street, Mumbai - 400.001 Bandra (E), Mumbai:- 400 051 Scrip Code: 523836 NSE Symbol: GUJRAFFIA
BSE Limited, ~o. National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, woe. Exchage Plaza, Bandra-kurla Complex,
Sub: Outcome of Meeting of Board of Directors held on June 29, 2021 and submission of audited financial results pursuant to Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
With reference to captioned subject and in continuation of our intimation dated June 23, 2021, this is to inform you that following business were transacted in the meeting of board of directors of the company held on June 29, 2021,
- Considered and approved audited Financial Results for the quarter & Year ended on 31 days of March, 2021 along with audit report thereon.
We are enclosing herewith audited financial results for the quarter and year ending on March 31, 2021 along with Audit report there on for your record.
The Board of Directors meeting was commenced at 12:00 P.M. and concluded at 12:30 P.M.
Kindly take the same on your records.
Thanking you.
OR GUJARAT RAFFIA TRIES LIMITED
Pradeep Bhutoria Managing Director Encl:- As Above
| Regd. Office: Plot No. 455, Santej-Vadasar Road, Village: Santej, Taluka: Kalol, Dist.: Gandhinagar, Gujarat - 382721.PART- | Gujarat Raffia Industries LimitedCIN : L17110GJ1984PLC007124 | Ga. | ||||
|---|---|---|---|---|---|---|
| Statement of Standalone Audited Results for the Quarter and Year ended on 31st March, 2021 | ||||||
| (Rs in lakhs} | ||||||
| Particulars | Quarter ended on | 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 | Year ended on | |||
| Audited | Unaudited | Audited | Audited | Audited | ||
| Income from Operations[Revenue from operation | 1020.8 | 726.17 | 683.65 | 3879.34 | 3376.06 | |
| IWOther Income | 27.62 | 0.06 | 49.38 | 30.99 | 50.75 | |
| Ml | Total Income (1 + Il)IVJExpenses | 1048.42 | 726.23 | 733.03 | 3910.33 | 3426.81 |
| a) Cost of Material Consumed | 510.99 | 563.68 | 590.7 | 2438.12 | 2493.41 | |
| b) Purchase of Stock in Tradec) Changes in inventories of finished goods, work-in | 0 | 07 | 0 | 0 | 0 | |
| progress and stock-in-trade | 24.70 | (82.37) | (74.20) | 310.53 | (72.48) | |
| d) Employee Benefit Expensee) Finance cost | 122.397.9 | 76.342.61 | 57.67]5.15 | 301.918.95 | 158.4130.34 | |
| f) Depreciation & amortization | 98.34 | 15.11 | 39.3 | 143.67 | 120.88 | |
| g) Other ExpenditureTotal Expenses (IV) | 232.17996.49 | 128.83704.20 | 123.87742.49 | 571.713784.88 | 640.933371.49 | |
| V{Profit/(Loss) before extra ordinary and exceptional Itemsand tax (III - IV) | 51.93 | 22.03 | (9.46) | 125.45 | 55.32 | |
| VifExceptional Items | 0 | 0 | 0 | 0 | 0 | |
| VII] Profit/(Loss)before extra ordinary Items and tax (V -VI) | 51.93 | 22.03 | (9.46) | 125.45 | 55.32 | |
| VIIIPExtra Ordinary Items | 0 | 0 | 0 | 0 | 0 | |
| IX] Profit / (Loss)before Tax (VII- Vill)X]Tax expense | 51.93 | 22.03 | (9.46) | 125.45 | §5.32 | |
| (i) Current Tax | 10.18 | 3.42 | 8.41 | 21.60) | 22.50 | |
| (ii) Deferred Tax(iii) Adjustment of tax relating to earlier period | 0(15.12) | 00 | 00 | 0(15.12) | 00 | |
| Total Tax Expenses (X)Profit (Loss) for the period from continuing operations | (4.94) | 3.42 | 8.41 | 6.48 | 22.50 | |
| XIR(IX - X) | 56.87 | 18.61 | azar | 118.97 | 32.82 | |
| XII Profit/(loss) from discontinuing operationsXIl\ Tax expense of discontinuing operations | 00 | oo0 | 00 | 00 | 00 | |
| Profit/(loss) from Discontinuing operations (after tax)XIV](XII - XIII) | 0 | 0 | 0 | 0 | 0 | |
| 56.87 | 18.61 | (17.87) | 118.97 | 32.82 | ||
| XV]Profit (Loss) tor the period (Xi + XIV) | ||||||
| XVI] Other Comprehensive Income:A. (i) Items that will not be reclassifled to proflt or loss | ||||||
| (ii) Income tax relating to items that will not be | ||||||
| reclassified to profit orloss | 0 | 0 | 0 | |||
| B. (i) Items that will be reclassified to profit or loss(ii): Income tax relating to items that will be reclassified | 0 | 0 | ||||
| to profit or loss | ||||||
| Xvil Total Comprehensive Income for the period (XV + XV!)comprehensiveComprisingOtherandProfit(Loss) | ||||||
| Income for the period ) | 56.87 | 18.61 | (17.87) | 118.97 | 32.82 | |
| Share of Profit / (loss) of associates Minority Interest | -- | -- | -- | -- | ||
| XVIII} Net Profit / (Loss) for the year | 56.87 | 18.61 | (17.87) | 118.97 | 32.82 | |
| XIX]Paid up equity share capital | 540.45 | 540.45] | 540.45 | 540.45 | 540.45 | |
| Face value of equity share capitalXxX]Reserve excluding Revaluation Reserves | 10 | 10-- | 10- | 101256.70 | 10)1137.73 | |
| XXI{Earnings Per Share (for continuing operation): |
| b) Diluted | 1.05 | 0.34 | (0.33) | 2.20] | 0.61 | |
|---|---|---|---|---|---|---|
| XXIl Earnings Per Share (for discontinued operation)a) Basicb) DilutedEarnings Per Share (for discontinued & continuing | 00 | fa) 0 | oF0 | 0of | 00 | |
| XXIill | operation)a) Basicb) Diluted | 1.051.05 | 0.340.34 | (0.33)(0.33) | 2.202.20 | 0.610.61 |
| NOTES:The above Financial Results have been reviewed by Audit committee of the Board and approved andadopted by Boad of Directors at its meeting held on 29th June 2021. | ||||||
| This statements has been prepared in accordance with the Companies ( Indian Accounting Standard )Rules,2015 - IND AS prescribed under sec- 133 of the companies Act, 2013 read with the Companies( IndianAccounting Standards) Rules, 2015 as amended by the Companies { Indian Accounting Standards )(Amendment) Rules, 2016 and other recognised accounting practices and policies to the extent applicableand in terms of Regulation 33 of SEBI( Listing Obligation and Disclosure Requierment } Regulations, 2015 .The figures for the quarter ended 31 March 2021, as reported in the financial results, are the audited figuresfor the full financial year ended on 31 March 2021 and reduced by figures of quarter ended on June 2020, | ||||||
| September 2020 and December 2020 have been subjected to limited review by the Statutory AuditorsImpact of the CoVID-19 pandemic on their financial statements :The Company has evaluated the impact ofCOVID-19 on its financial statements based on the internal and external information up to the date ofapproval of these financial statements and expect to recover the carrying amount of inventories, receivablesand investments. The Company does not foresee any material impact on liquidity and assumption of goingconcern. The Company will continue to monitor the future market conditions and update its assessment. | ||||||
| Company operated in only one business segment i.e manufacturing of P.E. Tarpaulin, HDPE/P.P Woven Sacks,Fabrics products. | ||||||
| Prior years comparatives are regrouped/reclassified wherever necessary to conform to current period'spresentationPlace: SantejDate: 29-06-2021 | FOR, Gujarat Raffia In: | BY ORDER OF THE BOARD OF DIRECTORS , | es | Limited | ||
| Pradeep Bhutoria(Managing Director)(DIN : 00284808) | ||||||
CIN : L17110GJ1984PLC007124
Office: Plot No. 45 Vadasar Road, Taluka: Dist.: - 382721.
| Audited Statement of Assets and Liabilities | |||
|---|---|---|---|
| (Rs in lakhs) | ||
|---|---|---|
| Statement of Assets and LiabilitiesStandalone | As at ( current yearended on)31.03.2021 | As at (the previous yearended on)31.03.2020 |
| plant andntaequi, | ||
| work-ib) Capital | ||
| Investmentc) | ||
| Goodwilld) | ||
| Other intangible assetse) | ||
| ble assets under devel | ||
| assets other than bearerBiolplants | ||
| (i) Non-current investments | ||
| (ii)Trade receivables, non-current | ||
| (iii}Loans, non-current | ||
| iv) other non current financial assets | ||
| Deferred tax assets(net | ||
| Other non-current assets | ||
| Inventoriesa) | ||
| (I)Current investments | ||
| (Il) Trade receivables, current | ||
| (II) Cash and cash equivalents | ||
| (IV) Bank balance other than cash and cash equivalents | ||
| (V) Loans, current | ||
| Other current financial assets (to be | ||
| (c) Current tax assets (net) | ||
| d) Other current assets | ||
| Non-current assets classified as held for sale | ||
| Regulatory deferral account debit balances and related deferred taxAssets | ||
| share ca | 540.45 | 540.45 |
| u | 1,256.70 | 1,137.73 |
| Non controllinginterest | ||
| (I) Borrowings, non-current | ||
| (Il) Trade payables, non-current | ||
|---|---|---|
| Other non-current financial liabilities | ||
| iil) | ||
| Provisions, non-currentb) | ||
| Deferred tax liabilities(netc) | ||
| mentgrants, Non-currentDeferred | ||
| Other non-current liabilitiesd) | ||
| Borrowings, current ) | ||
| ll) Tradebles, current | ||
| Other current financial liabilitiesiI) | ||
| b) Other current liabilities | ||
| Provisions, currentc) | ||
| d )Current tax liabilities(Net | ||
| mentDeferredgrants, Current | ||
| rnmentDeferredgrants, Current | ||
| Liabilities directly associated with assets in disposal group classified asheld for sale | ||
| Regulatory deferral account credit balances and related deferred tax | ||
| liabi | ||
| 649.11 | 837.06 | |
| 2,446.26 | 2,565.24 |
Prior years comparatives are regrouped/reclassified wherever necessary to conform to current period's presentation.
Place: Santej Date: 29-06-2021
Mr. Pradeep Bhutoria (Managing Director) [DIN -AN2g4RgN8 1
| Gujarat Raffia Industries LimitedCIN : L17110GJ1984PLC007124 | <= Gea. | ||
|---|---|---|---|
| Regd. Office: Plot No. 455, Santej-Vadasar Road, Village: Santej, Taluka: Kalol, Dist.: Gandhinagar, Gujarat ~ 382721. | |||
| CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2021 | (Rs In lakhs) | ||
| Particulars | Year endedMarch 31, 2021 | Year endedMarch 31, 2020 | |
| . CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net Profit/(Loss) before Tax | 125.45 | 55.32 | |
| Add/{(Less) : Adjustments for non cash items | |||
| DepreciationProvision for tax | 143.67(21.60) | 120.88(22.50) | |
| Adjustments of tax relating to earlier periods | 15.12 | - | |
| Add/(Less) : Other adjustments | |||
| Interest Incomeinterest and Other Borrowing Cost Paid | (3.95) | (5.07) | |
| Gain on redemption of Mutual funds | 18.94(16.94) | 30.34- | |
| Operating Profit before Working Capital Changes | 260.69 | 178.97 | |
| Add/(Less) : Adjustments for working capital changes | |||
| Changes in Current AssetsDecrease /(Increase) in Inventory | 176.63 | 333.19 | |
| Decrease / (increase) in Trade ReceivablesDecrease /(Increase) in Other bank balances | (96.87)- | 536.46- | |
| Decrease / (Increase) in loans and other financial assetsDecrease /(Increase) in Current tax assets | (26.01) | 32.96 | |
| Decrease / (Increase) in Other current assets | -36.86 | -(3.87) | |
| Changes in Current Liabilities | (Decrease) / Increase in Trade Payables | (163.31) | (78.99) |
| (Decrease) / Increase in Provisions | (Decrease) / Increase in Other Current Liabilities | (260.01)(0.29) | (94.92)1.02 |
| (Decrease) / increase in Current tax ilablilies | (5.29) | 2.50 | |
| Net cash generated from operations : | (75.60) | 907.12 | |
| NET CASH FLOW FROM INVESTING ACTIVITIES | |||
| Purchase of property, plant & equipment/intangible assets | (4.75) | (66.41) | |
| Sale of property, plant & equipmentPurchase of Investments: | 0.40 | - | |
| In Mutual FundSale of Investments: | (620.00) | - | |
| In Mutual FundChange in other non current assets | 636.94- | -- | |
| Interest Income | 3.95 | 5.07 | |
| Net cash used in investing activities : | 16.54 | (61.34) | |
C CASH FLOW FROM FINANCING ACTIVITIES
| CASH FLOW FROM FINANCING ACTIVITIESC | ||
|---|---|---|
| Changes in current and non current borrowings | 185.75 | (1,007.13) |
| Changes in non current : other financial liabilitiesChanges in non current provisionsInterest and Other Borrowing Cost Paid | -3.20(18.95) | e2.66(30.34) |
| Dividend paid including Corporate dividend taxNet cash generated from financing activities : | -170.00 | -(1,034.81) |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTSOPENING CASH AND CASH EQUIVALENTSCLOSING CASH AND CASH EQUIVALENTS | 110.94354.28465.22 | (189.03)543.31354.28 |
| 1. The cash flow statement has been prepared under the indirect method as set out in Indian Accounting Standard (Ind AS 7) | ||
| statement of cash flows. | ||
| Mr. Pradeep Bhutoria( Managing Director)( DIN : 00284808) |
Mr. Pradeep Bhutoria
' A. N. RUPAREL & CO. Ph. 079-26400816/17 | CHARTERED ACCOUNTANTS
602, Abhishree Avenue, Opp. Hanumanji Temple, Nehr — suieeinintniiemee
Independent Auditor's Report on the quarterly and year to date Audited Standalone Financial Results
To
The Board of Directors Gujarat Raffia Industries Limited Report on the audit of the Standalone Financial Results
We have audited the accompanying statement of quarterly and year to date standalone financial results of Gujarat Raffia Industries Limited ("the Company") for the quarter and the year ended March 31, 2021 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEB! (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
ii. gives a true and fair view in canformity with the applicable accounting standards and other accou nting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Company for the quarter and the year ended March 21, 2071.
$4515 TOP Laman
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the 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 ("the ICAI") together with the ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.
*h. 079-26400816/17 CHARTERED ACCOUNTANTS
602, Abhishree Avenue, Opp. Hanumanji Temple, Nehrunagar Cross Road, 'Ambavadl, Ahmedabad 380015 |
lanagement's Responsibilities for the Standalone Financial Results
A. N. RUPAREL & CO. The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company is responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information of the Company in accordance with the applicable 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 32 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Board of Directors is responsible for assessing the Campany's ability ta 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 orto cease operations, or has no realistic alternative but ta do so.
The Board of Directors is also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance Is a high level of assurance but is not a guarantee that an audit conducted in accordance with Svs 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 the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- « Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control,
- * 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 aré also responsible for expressing our opinion onewffetha, the company has adequate internal financial controls with reference to financial stétetre } Nace and the operating effectiveness of such controls.
A. N. RUPAREL & CO.
_ CHARTERED ACCOUNTANTS
- « 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 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 Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required ta draw attention in our auditar's report to the related disclosures in the financial results or, if such disclasures are inadequate, te modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- * Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiericies 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.
Ither Matters ;
The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were su bjected toa limited review by us, as required under the Listing Regulations,
Place: Ahmedabad Date: 29/06/2021
For, A. N. Ruparel &
Propri Firm Reg. No.: 113413W UDIN : 21046392AAAAIV9063
A. N. RUPAREL & CO.
_ CHARTERED ACCOUNTANTS
- « 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 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 Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required ta draw attention in our auditar's report to the related disclosures in the financial results or, if such disclasures are inadequate, te modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- * Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiericies 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.
Ither Matters ;
The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were su bjected toa limited review by us, as required under the Listing Regulations,
Place: Ahmedabad Date: 29/06/2021
For, A. N. Ruparel &
Propri Firm Reg. No.: 113413W UDIN : 21046392AAAAIV9063
CIN: L17110GJ1984PLC007124
Regd. Off: Plot No. 455, Santej-Vadasar Road,Village: Santej Taluka: Kalol - 382721 Phone.:(91- 79) 29702373/29702606 Fax: (91-79) 79 -29702614 Web Site: www.griltarp.com E-mail: [email protected]
Date: June 29, 2021
To, General Manager Manager Department of Corporate Services, Listing Department Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 523836 NSE Symbol: GUJRAFFIA
BSE Limited, National Stock Exchange of India Ltd — Phiroze Jeejeebhoy Towers, Exchage Plaza, Bandra-kurla Complex,
Sub: Sub.: Declaration pursuant to Regulation 33(3)(d) of the SEB! (Listing Obligations and Disclosure Requirements) (Amendments) Regulations, 2015
Dear Sir/Madam,
Pursuant to the provisions of Regulation 33(3)(d) SEBI (LODR) [Amendment) Regulation, 2015 as amended, we confirm that the Statutory Auditors of the Company M/s. A. N. RUPAREL & CO, Chartered Accountants, have not expressed any modified opinion in their Audit Report pertaining to the Audited Financial Results of the Company for the fourth quarter and financial year 31st March, 2021. JSTRIES LIMITED
Thanking you.