Hardcastle & Waud Mfg. Co. Ltd. — Interim / Quarterly Report 2021

Aug 12, 2021

HARDCASTLE & WAUD MANUFACTURING COMPANY LIMITED

Regd. Off.: Mall Office, 2nd Floor, Metro Junction Mall of West Pioneer Properties (I) Pvt Ltd,

Netivali, Kalyan (E), Thane – 421306 Tel. No.:022-22837658 Fax: 022-22873176 CIN No.: L99999MH1945PLC004581 E-mail Id: ho@hawcoindia.com Website: www.hawcoindia.in

12.08.2021

To,

BSE Ltd Phiroz Jeejeebhoy Towers Dalal Street Mumbai 400001

Dear Sirs,

Re : Submission of Unaudited Financial Results of the Company for the quarter ended 30th June, 2021

Enclosed is a copy of unaudited financial results of the Company for the quarter ended 30th June, 2021, as approved by the Board of Directors of the Company, together with a copy of the Limited Review Report of M/s GMJ & Co., auditors of the Company.

Thanking you,

Yours faithfully,

For Hardcastle & Waud Manufacturing Company Limited

Smita Shailesh Achrekar Digitally signed by Smita Shailesh Achrekar Date: 2021.08.12 14:26:45 +05'30'

Smita Achrekar Company Secretary & Compliance Officer

Encl : a/a

Gili & Co Chartered Accountants 3rd & 4th Floor, Vaastu Darshan, 'B'wing, Above Central Bank of India, Azad Road, Andheri (East), Mumbai - 400 069, Tel. — : 022- 6191 9293 / 222 /200 Fax : 022- 2684 2221 / 6191 9256 E-mail : admin@gnj.co.in info@gmj.co.in

Auditor's report on unaudited quarterly and year to date financial results of Hardcastle & Waud Mfg Co. Ltd pursuant to the regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended).

To, The Board of Directors, Hardcastle & Waud Mfg Co. Ltd

• We have reviewed the accompanying Statement of Unaudited Financial Results of Hardcastle & Waud Mfg Co. Ltd ("the company") for the quarter ended June 30, 2021 ("the statement") 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), read with Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the statement based on our review.
• We conducted our Limited Review in accordance with the standard on Review Engagement SRE 2410 'Review of Interim Financial Information Performed by Independent Auditors' issued by the Institute of Chartered Accountants of India. These standards require that we plan and perform the review to obtain moderate assurance as to whether the interim Financial Statements are free of material misstatements. A review is limited primarily to inquiries of company personnel 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 could become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with applicable Indian Accounting Standards prescribed under section 133 of Companies Act 2013, read with rules thereunder and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Agreement and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 including the manner in which it is to be disclosed or that it contains any material misstatement.

Emphasis of Matter

We draw attention to note 4 of the financial results which describes the possible effect of uncertainties relating to COVID-19 pandemic on the Company's financial performance as assessed by the management. Our opinion is not modified in this matter.

Other Matters

Due to COVID-19 pandemic and the lockdown and other restrictions imposed by the Government and local administration, the audit processes were carried out based on the remote access to the extent available/feasible and necessary records made available by the management through digital medium.

For GMJ & Co Chartered Accountants Firm Registration No: 103429W

Wicd fe

CA Atul Jain Partner M. No. 037097 UDIN: 21037097AAAAEB3748 Place : Mumbai Date : 12" August, 2021

	HARDCASTLE & WAUD MFG CO. LTD Regd. Off : Mall Office, II Floor, Metro Junction Mall of West Pioneer Properties (India) Private Ltd, Netivali Baug, Kalyan 421306
	Tel. No. 022 22837658	Fax No. 022 22873176
	CIN : L99999MH1945PLC004581 - Website : www.hawcoindia.in Statement of Unaudited Financial Results for the Quarter 30.06.2021
Sr			Quarter Ended		(= in Lakhs) Year Ended
No	Particulars	30.06.2021 Unaudited	30.06.2020 Unaudited	31.03.2021 Audited	31.03.2021 Audited
	T Revenue from Operations	88.92	53.03	111.10	319.08
	II Other Income III Total Income (I+II)	7.31 96.23	3.13 56.16	1.31	13.66
	IV Expenses Purchases of Stock-in-Trade			112.41	332.74
V_ VIII}	Changes in Inventories of Stock-in-Trade Employee Benefits Expenses	7.74 =	= 10.35	39.36 =	71.42 26.41
	Finance Costs Depreciation and Amortisation Expenses	18.69 -	15.99 0.06	18.93 -	70.18 0.06
	Other Expenses Total Expenses	14.92 12.15	10.35 9.52	13.22 24.52	47.41 60.94
	Profit before exceptional items and tax (III-IV) VI Exceptional Items	53.50 42.73 =	46.27 9.89 =	96.03 16.38	276.42 56.32
	VII Profit before extraordinary items and tax (V - VI) Extraordinary items	42.73 =	9.89 =	= 16.38 =	= 56.32
	IX Profit before tax (VII- VIII) X Tax Expense	42.73	9.89	16.38	56.32
	Current Tax Deferred Tax	13.24. 1.63	-	4.55	11:56
	Provision for Earlier Years XI Profit for the period/year (IX-X)	~	42.14 -	(3.71) (0.01)	43.85 (0.01)
XII	Other Comprehensive Income	29.89	(32.25)	15.55	0.92
	A (i) items that will not be reclassified to Profit or (Loss)	465.54	0.78	(49.41)	(45.34)
	2 a tax relating to items that will not be reclassified to Profit B (i) items that will be reclassified to Profit or (Loss)	(123.80) -	15.62 -	10.27	25.29
	(ii)Income tax relating to items that will be reclassified to Profit or (Loss)		_	- w	ms 6
	Total of Other Comprehensive Income / (Loss) , net of tax XIII} Total Comprehensive Income (XI+XII) (Comprising	341.74	16.40	(39.14)	(20.05)
	Profit/(Loss) and other Comprehensive Income/ (Loss) for the period/year)	371.63	(15.85)	(23.59)	(19.13)
XIV	Paid-up equity share capital - (Face Value of Rs. 10/- each)	67.95	67.95	67.95	67.95
	XV _ Earnings per share of Rs 10/- each, (Not annualised ) : a) Basic (in @) b) Diluted (in %)	4.40	(4.75)	2.29	0.14

4.40 (4.75) 2.29 0.14 XVI} Reserve excluding revalaution reserves as per balancesheet of

previous accounting year

	SEGMENT-WISE REVENUE, RESULTS, ASSETS & LIABILITIES:				(= in Lakhs)
No	Sr. Particulars	Unaudited	Quarter ended 30.06.2021 30.06.2020 31.03.2021 Unaudited	Audited	Year Ended 31.03.2021 Audited
I	Segment Revenue
	a) Trading b) Investments	12.52	16.27	62.83	154.78
	c) Leasing	32.76 43.64	0.01 36.75	6.74 41.53	10.36 153.94
II	Total __Segment Results - Profit before tax and interest	88.92	53.03	111.10	319.08
	a) Trading	4.77	5.57	22.82	55.16
	b) Investments c) Leasing	32.76 26.40	0.01	6.73	10.35
	Total	63.93	22.74 28.32	25.95 55.50	94.99 160.50
	less : Interest Less : Extra-Ordinary Items	- =	(0.06) *	is =	(0.06)
	Add : All other un-allocable (expenditure)/income	(21.20)	(18.37)	(39.12)	(104.12)
	Total Profit Before Tax Segment Assets	42.73	9.89	16.38	56.32
	a) Trading	46.51	55.00	75.92	75,52
			1,631.06	1,604.14	1,604.14
	b) Investments c) Leasing	1,898.33 1,988.70
	Total	3,933.54	1,925.48 3,611.54	1,945.75 3,625.41
	Add:Unallocated Corporate Assets Total	259.64 4,193.18	132.06 3,743.60	120.81 3,746.22
	Segment Liabilities a) Trading
	b) Investments	= %	47 =	- *	= =
	c) Leasing Total	233.24 233.24	219.22 220.39	233.14 233.14
III IV	Add:Unallocated Corporate Liabilities	97.78	29.39	22.55	1,945.75 3,625.41 120.81 3,746.22 233.14 233.14 22:55
	Total Add:Net Worth	331.02 3,862.16	249.78 3,493.82	255.69 3,490.53	255.69 3,490.53
	Total	4,193.18	3,743.60	3,746.22	3,746.22
	NOTES :
	1) The above results have been reviewed by the Audit Committee and by the Board of Directors at their respective meeting held on 12th August, 2021.
	2) Financial Results is also available on the	website www.bseindia.com and on the Company's website www.hawcoindia.in.
	3) Figures of the previous period have been regrouped/rearranged wherever necessary/practicable to conform to the current presentation.
	4) The Company has evaluated impact of this pandemic on its business operations and based on its review and current indicators of
	future economic conditions, there is no significant impact on its financial results. 5) The figures of the quarters ended March 31, 2021 are balancing figures between audited figures in respect of the full financial
	year and the unaudited published year-to-date figures up to the third quarter of the financial year.
38
				By Order of the Board OY
	Date : 12th August,2021			eeruWwera> (Ce 2