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HEG Ltd. Interim / Quarterly Report 2019
61624_rns_2019-11-14_fa33b13f-e2aa-48bd-8006-cf6de6b96cbc.pdf
Interim / Quarterly Report
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HEG/ SECTT/ 2019 14th November, 2019
| 1 | BSE Limited | 2 | National Stock Exchange of India Limited |
|---|---|---|---|
| 25th Floor, P J Towers | Exchange Plaza, 5th Floor | ||
| Dalal Street | Plot No.C/1, G Block, Bandra -Kurla Complex | ||
| MUMBAI-400 001. | Bandra (E), | ||
| Scrip Code : 509631 | -400 051.MUMBAI | ||
| Scrip Code : HEG |
Sub: Outcome of Board Meeting
Dear Sirs,
Pursuant to Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors at its meeting held today i.e. 14th November, 2019 has approved and taken on record the Unaudited financial results (Standalone and Consolidated) of the Company for the quarter and half year ended the 30th September, 2019, alongwith the Limited Review Reports of the Statutory Auditors thereon, which are enclosed as an Annexure to this letter.
The above said Board Meeting commenced at 1:45 P.M. and concluded at 6.15 P.M.
Please take the same on record
Thanking you,
Yours faithfully, For HEG Li .
Encl: as above
HEG LIMITED
Corporate Office : Regd. Office : Naida - 201 301 (NCR-Delhi), India (Madhya Pradesh), India Fax: +91-120-4277841 Fax: +91-7480-233522 Website: www.lnjbhilwara.com Website: www.hegltd.com
Bhilwara Towers, A-12, Sector-1 Mandideep (Near Bhopal) Distt. Raisen - 462046 Tel. : +91-120-4390300 (EPABX) Tel.: +91-7480-405500, 233524 to 233527
Corporate Identification No.: L23109MP1972PLC008290
B-XIX-220, Rani Jhansi Road, Ghumar Mandi, Ludhiana-141 001 E : [email protected] T : +91-161-2774527 M : +91-98154-20555
INDEPENDENT AUDITOR'S REVIEW REPORT ON THE QUARTERLY UNAUDITED STANDALONE FINANCIAL RESULTS OF HEG LIMITED PURSUANT TO THE REGULATION 33 OF THE SEBI {LISTING OBLIGATIONS AND DISCLOSURES REQUIREMENTS) REGULATIONS, 2015, AS AMENDED
Review Report to The Board of Directors HEG Limited
- I. We have reviewed the accompanying statement of unaudited Standalone financial results of HEG LIMITED ("the Company") for the quarter and six months period ended 30th September, 2019 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI circular No CIR/CFD/CMDl/44/2019 dated 29th March, 2019.
-
- This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
-
- 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.
Contd .. 2/-
- Based on our review conducted as stated in paragraph 3 above, 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 applicable Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For SCV & Co. LLP Chartered Accountants Firm Reg No. 000235N/N500089
,.c- ~ 1, njiv Mohan) Partner M. No. 086066
Place: Noida Date: 14th November, 2019
: 2:
| K61: | HEGLIMITE | D | |||||
|---|---|---|---|---|---|---|---|
| CoOffic: Bhilt erporae | ToA-12warawers, | SeO1,Nctor -, | IDA201301.- | ||||
| ReistdOfficMdide(geree :anep | NeBhl),Disaropa | RaiseMadtt.n, | hyPradeh-4620as | 46 | |||
| Ph012one : | 0-4390300;Fa0x : | 120-4277841 | |||||
| CIN31091972PLC008290: UMPWe | bsi.heltdte:wwwg.co | ail:heinvEmestmg. | [email protected] | m | |||
| STATEMENTOFSTANDALONEUNAUDITEDFINANCIAL | RESULTSFOR THE | QUARTER AND | HALFYEAREND | ED30THSEPTEMB | ER2019, | ||
| inCr?ores | |||||||
| QudedEnarter | QudedEna rter | QuEndedarter | lf YdedHaEnear | Half YEndedear | dedYeEnar | ||
| SI.No | . Piculararts | 30-09-2019 | 30-06-2019 | 30-09-2018 | 30-09-2019 | 30-09-2018 | 31-03-2019 |
| Unaudited | Unaudited | Unaudited | Unaudited | auditedUn | ditedAu | ||
| I | Ree fOativenuromperon | 564.38 | 816.51 | 1,793.80 | 1,380.89 | 3,381.18 | 6,592.83 |
| II | Other Income | 35.03 | 39.16 | 20.37 | 74.19 | 29.72 | 109.19 |
| Ill | TotalRe{1+11)venue | 599.41 | 855.67 | 1,814.17 | 1,455.08 | 3,410.90 | 6,702.02 |
| IV | Expenses | ||||||
| Cof mrials cedst oateonsum | 334.17 | 494.35 | 414.16 | 828.52 | 691.18 | 1,611.84 | |
| Purchofck-inadesto-trase | - | - | - | - | - | - | |
| Chininvorioffinishedodork-inndck-in-deentstotraangesesgos, w- progress a | {47.40) | {191.75) | {196.32) | {239.15) | {267.71) | {497.06) | |
| Emloybenefits epeexpense | 23.38 | 28.50 | 52.55 | 51.88 | 98.00 | 197.57 | |
| Finostance c | 9.95 | 9.25 | 5.39 | 19.21 | 8.54 | 17.97 | |
| Deciationdisatioortpren aamn expense | 17.75 | 17.72 | 18.13 | 35.47 | 35.68 | 72.39 | |
| PondFuel{Nef lndivisionalPurchs)t oterwer aase | 40.29 | 48.56 | 45.38 | 88.85 | 86.88 | 183.21 | |
| OtherExpenses | 74.89 | 89.06 | 109.22 | 163.95 | 216.05 | 439.02 | |
| Total{IV)expenses | 453.03 | 495.69 | 448.51 | 948.72 | 868.62 | 2,024.94 | |
| V | fit/(ss)befotionalited t{Ill-IV)ProLoreexcepmsanax | 146.38 | 359.98 | 1,365.66 | 506.36 | 2,542.28 | 4,677.08 |
| VI | tionalExItecepms | - | - | - | - | - | - |
| VII | Profit/(Loss)befoTax(V-VI)re | 146.38 | 359.98 | 1,365.66 | 506.36 | 2,542.28 | 4,677.08 |
| VIII | Taxexpense | ||||||
| (1)CuTaxntrre | 1.55 | 121.78 | 475.38 | 123.33 | 881.59 | 1,619.35 | |
| (2)DeferredTax | {34.20) | 3.81 | 1.38 | (30.39) | 1.49 | 7.30 | |
| IX | Net Profit/(Loss)for theriod(VII-VIII)e p | 179.03 | 234.39 | 888.90 | 413.42 | 1,659.20 | 3,050.43 |
| X | Other Chensive I{Nef Ts)t oomprencomeaxe | ||||||
| ~ | A (i)Itethwill nbelassifiedfitlosatottomsrecproors | 0.28 | - | {1.17) | 0.28 | (1.17) | (0.98) |
| )<I> | (ii)Increlatiitethwill nbeclassified trofit or loe ttoatotomaxngmsreo pss | (0.07) | - | 0.41 | (0.07) | 0.41 | 0.34 |
| It | B (i)Itethwill beclified trofit or loatmse rasso pss | - | - | - | - | - | - |
| (ii)relatiitethwill beclified trofit or loInce ttoatomaxngmse rasso pss | - | - | - | - | - | - | |
| ShofherrehsivofiatC.Ote IAsarecompenncomesoces | - | - | - | - | - | - | |
| XI~ | talCorehsivfor theriodToe I{IX+X)mpenncomee p | 179.24 | 234.39 | 888.14 | 413.63 | 1,658.44 | 3,049.79 |
| 1<IIn,-ere' | Paid -uitShCaital (alue?10/share)UpEqFace Vyarep- per | 38.60 | 38.60 | 39.96 | 38.60 | 39.96 | 38.60 |
| lirm | (cludinvalion)ReExReReuatservesgserves | - | - | - | 3,680.40 | ||
| XIV;_., | EarniPer Shar) -Basic(Rs.)ngse ~ | 46.39 | 60.73 | 222.45 | 107.12 | 415.22 | 763.60 |
| Diluted(Rs.)- | 46.39 | 60.73 | 222.45 | 107.12 | 5.2412 | 763.60 |
l;LZ~ J ... -.J
.,j
| inCrtores | |||||||
|---|---|---|---|---|---|---|---|
| QudedEnarter | QuEndedarter | QuEndedarter | lf YdedHaEnear | Half YEndedear | YeEndedar | ||
| SI.No | . Piculararts | 30-09-2019 | 30-06-2019 | 30-09-2018 | 30-09-2019 | 30-09-2018 | 31-03-2019 |
| Unaudited | auditedUn | auditedUn | Unaudited | auditedUn | Audited | ||
| A | SegRentmevenue | ||||||
| Grhitape | S59.55 | 814.64 | 1,3.3879 | 1,374.19 | 3,380.23 | 6,582.28 | |
| Power | 22.45 | 24.57 | 28.85 | 47.02 | 56.72 | 121.47 | |
| Others | - | - | - | - | - | 0.01 | |
| Total | 582.00 | 839.21 | 1,822.23 | 1,421.21 | 3,436.95 | 6,703.76 | |
| salLess: Intentr segmees | 17.62 | 22.70 | 28.43 | 40.32 | 55.77 | 110.93 | |
| RefroOptiovenueme rans | 564.38 | 816.51 | 1,793.80 | 1,380.89 | 3,381.18 | 6,592.83 | |
| B | sulSegRentts | ||||||
| meProfitbeford finast fche tnt | |||||||
| axanncecoromeasegmeGrhite | 121.68 | 340.10 | 1,369.61 | 461.78 | 550.14 | 605.34 | |
| apPower | 1.67 | (0.56) | (7.63) | 1.12 | 2,12.40 | 4,17. | |
| Others | - | - | ()- | (62)- | |||
| Total | 123.35 | -339.54 | -1,361.98 | 462.90 | 2,537.74 . | 4,587.72 | |
| Add/Less: | |||||||
| Intst Ierencome | 9.77 | 11.45 | - | 21.22 | - | 49.75 | |
| Gainleof(ludingin/(loss)itsir Valuati)InvIncFaestntsonsameonon | 21.96 | 17.70 | 39.67 | 51.49 | |||
| gaOthenallocablf er Ue It oncomeneenses | 1.24 | 0.54 | -9.07 | 1.78 | -13.08 | 6.09 | |
| xpFinostance c | (9.95) | (9.25) | (5.39) | (19.21) | (8.54) | (17.97) | |
| TotalProfit BefoTaxre | 146.38 | 3589.9 | 1,365.66 | 506.36 | 2,542.28 | 4,677.08 | |
| C | SegAsntsetmes | ||||||
| Grhitape | 3655.26 | 3473.94 | 3217.19 | 3655.26 | 3217.19 | 3479.11 | |
| r ,Powe | 118.47 | 133.85 | 163.07 | 118.47 | 163.07 | 143.13 | |
| Unallted/Othocaers | 1461.57 | 20.0467 | 1131.80 | 1461.57 | 1131.80 | 1447.43 | |
| TotalSet Atsgmensse | 5235.30 | 5674.84 | 4512.06 | 5235.30 | 4512.06 | 5069.67 | |
| D | LiabilitieSegntmes | ||||||
| hitGrape | 1183.53 | 1419.61 | 1066.31 | 1183.53 | 1066.31 | 1120.62 | |
| Power | 10.92 | 10.62 | 41.02 | 10.92 | 41.02 | 9.62 | |
| Unallted/ Otheocars | 140.87 | 291.22 | 178.54 | 140.87 | 178.54 | 220.44 | |
| TotalSet Liabilitigmenes | 1335.32 | 1721.45 | 1285.87 | 1335.32 | 1285.87 | 1350.68 |
\
| STATEMENT OF ASSETSAND LIABILITIES | |||
|---|---|---|---|
| Particula | Half Yr Endedea | inCrtoresYeEndedar | |
| rs | 30-09-2019 | 31-03-2019 | |
| Unditedau | Audited | ||
| A(1) | !ASSETSNot atsn-currensse | ||
| a)PrortyPlant andEquipntpeme | 6.S74l | 784.49 | |
| ,b)Caitalork-inpw-progress | 33.24 | S818. | |
| c)Invtmt Pertesenrop | 3.46 | 3.54 | |
| yd)Right tAsseto use | 6.26 | - | |
| e)Goodwill | - | - | |
| f)Other Inibletansetgass | 0.31 | 0.35 | |
| )Intiblenddelopsetntgangass uerveme | - | - | |
| h)Biological Ather thbelants otssseanarer p | - | - | |
| i)Fincial assetans | - | - | |
| (i)Investntsme | 1,066.42 | 758.80 | |
| (ii)Tradeeivablesrec | - | - | |
| (iii)Loans | 15.07 | 11.19 | |
| (iv)Other Financial Atssse | - | - | |
| Deferredts()j)tanetx asse | - | - | |
| k)Ince TAss(Net)setomax | 39.96 | 39.95 | |
| I)Othentetsr non-curreass | 120.71 | 17.27 | |
| TotalNon Ct Atsurrensse | 2,031.94 | 1,634.17 | |
| (2) | !Cuntetsrreass | ||
| (a)Inviestoren | l,8S4.79 | 1,308.39 | |
| (b)Fincial assetans | - | I- | |
| (i)Investntsme | 15.95 | 108.24 | |
| (ii)Tradeeivablesrec | 679.52 | 1,186.88 | |
| (iii)Cash& Cashuivalentseq | 38.34 | 29.16 | |
| (iv)Bankbalanher th(iii)abotcesanove | 322.28 | 528.17 | |
| (v)Loans | 1.00 | 0.62 | |
| (vi)OtheFincial Atsrsansse | 6.60 | 5.38 | |
| (c)Othet atsr currensse | 284.88 | 268.66 | |
| TotalCt Atsurrensse | 3,203.36 | 3,4305.5 | |
| TotalAssets | 235.305, | 5,069.67 |
t,-.._
I/ h.rvv r.
| Crintores | |||
|---|---|---|---|
| Particulars | lf YHar Endedea | YeEndedar | |
| 30-09-2019 | 31-03-2019 | ||
| Unditedau | Audited | ||
| B | EQUITY &LIABILITIES | ||
| Equity | |||
| (a)Equithaitaly srecap | 38.60 | 38.60 | |
| (b)Otheityr equ | 3,861.39 | 3,680.40 | |
| LIABILITIES | |||
| (1) | I Not liabilitien-currens | ||
| (a)Fincial liabilitieans | |||
| (i)Bowinrrogs | |||
| (ii)TradePableyas | |||
| (iii)Other fiialliabilities-SrityDesitnancecupo | 0.40 | 0.41 | |
| (b)Provisions | 3.69 | 3.87 | |
| (c)Deferredx liabilities(Net)ta | 95.81 | 126.13 | |
| (d)Otheliabilitientr non-curres | 2.57 | 2.40 | |
| TotalNon Ct Liabilityurren | 102.46 | 132.81 | |
| (2) | !Culiabilitientrres | ||
| ()Finaialliabilitiesanc | |||
| (i)Bowinrrogs | 642.33 | 666.36 | |
| (ii)TradePableyas | |||
| (A)TotalOdinduofmiisendalliseutstantertergescroenprs asmenprs | 4.70 | 3.99 | |
| (B)TotalOdinduofdither thicrisendallutstanotntegescreorsanmo erprs asm | 467.19 | 376.08 | |
| iseterenprs(iii)Other fiialliabilitienancs | 71.54 | 130.17 | |
| Othet liabilities | 15.15 | 16.05 | |
| (b)r curren(c)Provisions | 5.31 | 19.78 | |
| (d)Cunt TLiabilities (Net)rreax | 26.62 | 5.43 | |
| TotalCuLiabilityntrre | 1,232.85 | 1,217.86 | |
| TotalE_ity andLiabilitig_ues | 5,235.30 | 5,069.67 |
| CASHFLOWSTATEMENT | inCrores | |||
|---|---|---|---|---|
| PARTICULARS | Period Ended | Period Ended | YeEndedar | |
| 30-09-2019Unditedau | 30-09-2018Unditedau | 31-03-2019Audited | ||
| A | CASHOWOMOG ACTIESFLFRPERATINIVIT | |||
| fitforProbee Tax | 506.36 | 2,542.28 | 4,677.08 | |
| t foAdjustmtinndashtractioenr nonoperag anon cnsans | ||||
| DeciationdAmortisatiopren an | 35.47 | 35.68 | 72.39 | |
| IntPaidstere | 19.21 | 8.54 | 17.97 | |
| Net(Profit)/Lolannduipld/disrdedertt antssonpropy peqmesoca | 0.83 | 0.60 | 3.35 | |
| fod CAllr Ecteredit Lowancesxpeosses | (1.17) | 2.47 | 5.35 | |
| /loUnlised gainforeichae fluctuatioreassongnexngn | 16.51 | 12.25 | (25.47) | |
| Bad Debts | 1.11 | 0.22 | 0.22 | |
| Ga/fain oaleir valuatiofinvtmtsn sonesen | (39).67 | - | (51.49 | |
| Inteivedstererec | (21.22) | (16.)76 | )(49.75) | |
| Adjusts fchas inndliabilitietmsetenorngeass as | ||||
| (lncse)/DeinTradivablereacreasee reces | 491.24 | (389.50) | (194.24) | |
| (lncse)/DeinInrientoreacreaseves | (546.40) | (445.02) | (5)796.9 | |
| (lncse)/DeinLofincial andOthesetreacreaseansanr ass | 185.05 | (52.43) | (.53)677 | |
| ,lncse/(De)inLiabilitiendisioreacreases aprovns | 18.36 | 414.76 | 168.83 | |
| Cashedfrotioratgenemoperans | 5.6866 | 2,113.10 | 3,149.77 | |
| Incide tomaxpa | 102.07 | 883.08 | 1.51,664 | |
| Net Cashedfrotinctivities (A)ratgenemoperag a | 563.60 | 1,230.02 | 1,488.23 | |
| B | CASHOWOMSTINGACSFLFRINVETIVITIE | |||
| AdditioninPrlanndEquip(includingCaital work-ins)ertt antsopy pmep-progres | (19.66) | (25.61) | (48.79) | |
| 0.53 | 0.43 | 1.07 | ||
| Sale of PPlad Eipmertnttsropyanquen | (102.36) | 1.78 | (11.40) | |
| (lncse)/DeinAds for CitalExnditureacreasevanceappere | (0.66) | 5.12 | 3.70 | |
| lncse/(De)inCreditfor CitalExnditureacreaseorsappere | (351.90) | (822.67) | (1,094.09) | |
| () of InPurchstmtsaseveen | 176.23 | - | 427.80 | |
| Sale of Instmtsveen | 19.28 | 13.74 | 45.94 | |
| Inteivedstererec | (278.54) | (827.22) | (675.78) | |
| t Cs (B)Neashedininvingtivitieestusac | ||||
| C | CASHFLOWFROMFINANCINGACTIVITIES | |||
| Ref Bing(Non-Ct)t opaymenorrowurren | - | - | - | |
| Proeds/(Ret) of Bings(Cunt)(workingital)cepaymenorrowrrecap | (24.03) | 44.46 | 368.91 | |
| IntPaidstere | (19.21) | (8.21) | (17.97) | |
| DividendPaid | (192.98) | (199.80) | (319.67 | |
| Dividenddiibution Tidstraxpa | (39).67 | (41.07) | (65.71 | |
| BubackofEquityShCaitalyarep | - | (754.03 | ||
| Net Cashedin finaingctivities (C)usnca | (275.88) | (204.61) | (788.47) | |
| NCASE(CRSE)CASHD CASQUS (C)NET IREDEEAINANH EIVALENTA+B+ | 9.18 | 198.19 | 23.99 | |
| Caofshd cashuivalentsatthe binningtheriodaneqege p | 29.16 | 7.62 | 5.17 | |
| Cashd cashuivalethndoftheriodntsataneqe ee p | :::IA20u, | c 82'lni:~u, | 29.16 |
No10.I\ ~(/
| Notes: | ||||||
|---|---|---|---|---|---|---|
| 1 | The figuofthndingiouiod/ yr hbeed/ rest/classified whensideredd tiod/ yr clificatitot prese correspoprevs pereaaveenregroupcarereverconecessarycorrespono currenereaasson | |||||
| 2 | Optior HdroPor Plant TalinThlanllyainlosedin the1stinin the2nd qksin the3rd qr befoeriatt aturt gt qrtetartsrtertetaperansouyweawa areseasonnae.e penerarems cuar, soperaguar, peauarengdointhe lThiont Ta Plant hadd f14thAu2019rdsastartratstartest,wnquer.e opes aawromguonwa | |||||
| 3 | e CStas)See CThbostdalone finaialults hbed irdaiththnies {IndianActinndardRules2015ibed undction 133ofthnies Act,2013de aveanncresaveenpreparen acconcewompacoungasprescreromparea,with relerulissuedthdentvaesereunr. | |||||
| 4 | Fincial reltshave biewedbyAuditCoittendd bBoardofDis intheirivetinheld on 14thNomb2019d hbeiewedbythe Storecttatutoansueen revmme aapproveyrecrespmeegsveer,anaveenrevryAuditofth. TheStaAudithaseddifiedinioheafidultstutn torse companyoryorsveexpresanunmoopn ooresares | |||||
| 5 | EffiveApril1,2019theCodotedInd AS 116"Les"liedall lexistinn Ail 12019usitheodified rctivethodalowith theitiotioecttontractetrtran tmpany apaseappasecos eg oprngmospee mngnsn opo,,nise Right-of-Ust (ROU)l tothe le liabilityatntrecoge asseanamouequaeas | |||||
| Inf lehaclassifiedfinlealyingInd AS 1ofRs.hasbeclassified fPPlad EipmRihtofs. Afct os tt w7,nt6.34ertntt tosett orespeaseereasanceses, appanamoucroreenreromropanquenguseasn amouny,Rs.0.01hasbeclassified fher fiialliabilitylealiabilityndofRs.0.41has beclified fher fiialliabilityleaott tot antotnttocro~eenreromnanc- currense- currenanamoucroreeen rassromnanc- noncurreseliabilitynt.- noncurre | ||||||
| ofOofofCot foThe leteinectallratingleadswithin12thsthe dateinitial alicationdordinglythehaselectedtouchlehort tlead hasermresppesesenmonppn aaccmpanaccounr sases as sermseanasynisedtheleatstalrecogsepaymenasrenexpenseThisimf adotiof Ind AS 116the finaialultsofthct orteerenopapn oonncrese quar. | ||||||
| 6 | The Chaseledisethtioitted undSection 115BAA of the Ix A1961 as indud btheTation Ls (Amdmt)Ordin2019. Ardily,theecttotact,troompanyexerce opn permerncomeceyxaawenenanceccongCoSeid Shasnizedvisionfor inx fthesixthsriod ended30thber 2019 andreditsdeferredx liabilitythe basif raibed iheion. Thtatemtaten tectmpanyrecogprocomeormonpepre-measuons oprescrsaeimofthihahas bized iheoffitd looftheded 30thSebe. IthaultedinductiofliabilityntiRsCrdctn tstatentarttem2019nt tto. 47.55pas cngeeen recognmeproanssquerenpr,s resreoncurreaxamoung. anhasalsultedinl of defed tliabilityntiRs. 34.11Cr. Thefull imofthihahas bized if Profit &Loforthnded30thSebetocttatt ortetemo resreversarreaxamoungpas cngeeen recognn semensse quar epr,2019 | |||||
| 7 | d (L),e CThe BrdofDirectintheir mtinheld on 2ndApril,2019had dided thasdditiol 32351004 shainBhilwEnLimiteBEAsiateofthfortinoaorseegeco purce anaresaraergyansocompanyanaggregag,,,,h csidtiof RCrs. Thefaialuatiofshf BELis Rshahich wdemidbyInddent ValuPthbouisitiof shtheholdinfs 162.05s. 50.09 pterostcasoneran oorer vonares oerre,wasneanepener.e aveacqn oares,g oCoinBEL,is isedfro29.48% to 49%mpanyncream | |||||
| For HEGLimited | ||||||
| Place: | Ravi JhunjhualanwChairMaing&CEO()NoidaU.Pman,nagr,~ |
B-XIX-220, Rani Jhansi Road, Ghumar Mandi, Ludhiana-141 001 E : [email protected] T : +91-161-2774527 M : +91-98154-20555
INDEPENDENT AUDITOR'S REVIEW REPORT ON THE OUARTERL Y UNAUDITED CONSOLIDATED FINANCIAL RESULTS OF HEG LIMITED PURSUANT TO THE REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURES REQUIREMENTS) REGULATIONS, 2015, AS AMENDED
Review Report to The Board of Directors HEG Limited
1. Introduction
We have reviewed the accompanying statement of unaudited Consolidated financial results of HEG LIMITED ("the Company") and its share of the net profit/(loss) after tax and total comprehensive income / loss of its associates for the quarter and six months period ended 30th September, 2019 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Attention is drawn to Note No. 7 to the Statement which states that the consolidated figures for the corresponding quarter and six months period ended 30th September, 2018, as reported in the accompanying financial results, have been approved by the Company's Board of Directors, but have not been subjected to review.
This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
2. Scope of Review
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. 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 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
- The Statement includes the results of the two associates viz. Bhilwara Energy Limited and ara Infotechnology Limited.
SCV & Co. (forr=~i.1:10wn as S. C. Vasudeva & Co.) a partnership firm converted to SCV & Co. LLP a limited liability Partnership with LLP Identification No. AAM-5565, w.e.f. 3rd May, 2018 !CAI Registration Number is 000235N/N500089
Regd. Office: B-41, Lower Ground Floor Panchsheel Enclave, New Delhi-110017 T : +91 -11-26499111 W: www.scvindia.com
4. Conclusion
Based on our review conducted and procedures performed as stated in paragraph 2 above and based on the consideration of the review rep01ts of other auditors referred to in paragraph 6 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 applicable Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material 111 isstatement.
5. Matters reported in the Auditor's Review Report on Consolidated financial results of Bhilwara Energy Limited, an associate of the Company
(A) Material uncertainty related to going concern of a subsidiary of an associate
We draw attention to the matter related to material unce1tainty related to going concern of a subsidiary of Bhilwara Energy Limited, an associate of the Company, reported in the Auditor's Review Report on Consolidated financial results of the associate which is being reproduced hereunder:
In case of Chango Yangthang Hydro Power Limited, a subsidiary of the associate
The Board of directors of Chango Yangthang Hydro Power Limited decided and surrendered the Chango Yangthang HEP (180 MW) project to Directorate of Energy, Government of Himachal Pradesh due to delay and uncertainty in project execution and long delay in Government approvals and licences lapse. The Company has written off capital work in progress during the financial year ended 3 l st March, 2018 amounting to Rs. 27 .14 crores. These events or conditions indicate that there exists material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern since the Company was incorporated as a Special Purpose Vehicle for this particular project.
The conclusion of the auditor of the said company is not modified in respect of this matter. Also the conclusion of the auditor of the associate company is not modified in respect of this matter.
(B) Emphasis of Matter
We draw attention to the Emphasis of matters reported in the Auditor's Review Rep01t on Consolidated financial results of Bhilwara Energy Limited, an associate of the Company, which are being reproduced hereunder:
(i) In Malana Power Company Limited, a subsidiary of the associate
There is uncertainty relating to the effects of outcome of litigation with Himachal Pradesh State Electricity Board (HPSEBL).
We also draw attention to note no. 9 (a) of the financial results in this regard.
(ii) In BG Wind Power Limited, a subsidiary of the associate
In case of BG Wind Power Limited, the Power Purchase Agreement (PPA) with DISCOM has expired dated March 31, 2019. BG Wind Power Limited is pursuing for Power Purchase Agreement (PPA) with DISCOM@ INR 3.14 per Kwh vide RERC third amendment regulation
dated 5th March, 2019 for the entire duration of the project because PPA validity expired on 31 March, 20 I 9 but the DISOM has not signed. The DOCM has not signed the PPA even after the company has filed a petition with RERC. The company has continued to recognize revenue from sale of power of INR 2.25 crores and Generation based Incentive (GBI) of INR 3.60 crores and shown under unbilled revenue as the Management of the company believes that PPA will be signed. The company has filed writ petition with Rajasthan High Court, Jaipur in this regard.
We draw attention to note no. 9 (c) of the financial results in this regard.
(iii) In NJC Hydro Power Limited, a subsidiary of the associate
There is uncertainty relating to the effects of outcome of petition filed with District court of Itanagar, Arunachal Pradesh. The company had filed petition under section 9 of Arbitration Act in District Court for immediate relief to maintain the "Status Quo" against the instant notice issued by Government of Arunachal Pradesh (GoAP) for termination of the project on March 22, 2019 invoking its right to takeover the project on "AS IS WHERE IS BASIS" and allotting the same to third party.
District Court passed the order admitting the petition and maintaining the "Status Quo" on the project and has also suspended the termination notice issued by GoAP. The next date for final hearing is on 13th December, 2019.
The viability of the Nyamjang Ch-hu HEP power project is dependent on the outcome of the report of Wildlife Institute of India, Dehradun. We are unable to comment on the financial implications and the future operations of the company till outcome of report of Wildlife Institute of India, Dehradun is shared by Ministry of Environment and Forest (MoEF & CC)/ National Green Tribunal (NGT) to the company.
We also draw attention to note no. 9 (d) of the financial results in this regard.
(iv) In case of Chango Yangthang Hydro Power Limited, a subsidiary of the associate
The company has surrendered Chango Yangthang HEP (180MW) project in Himachal Pradesh and asked for refund of upfront premium of Rs. 37.89 crores and security deposit of Rs.1.80 crores with interest, the Government of Himachal Pradesh has not considered the Company's contention for surrender of project. The company on 16th February, 2018 has reaffirmed its intention and asked the authorities for their decision on application of surrender of the project since the project is not to be executed purely on account of various social-legal issues neither in the control of the company nor in the control of local administration/authorities.
Government of Himachal Pradesh (GoHP) vide Notification dated 03rd Nov 2018 has formed a committee to deal with the issues of various projects which includes Chango Yangthang Hydro Power Limited (CYHPL). On the direction of GoHP, a public meeting was conveyed on 14th November 2018 which was attended by various villagers of the project affected area, officials of DoE, District administration and CYHPL. During the meeting, the villagers categorically refused for development of any Hydro Electric project in the Hangrang valley including 180 MW Chango Yangthang HEP and refused to co-operate on the issue of development of any project. The said committee discussed the Sutlej Valley projects on 18th Feb 2019 which included CYHPL. During the meeting CYHPL categorically refused to execute the project in view of severe local issue and lapse of clearances for the project. Committee has noted the same.
The management is confident of recovering the upfront fee and security deposit paid on account of surrender of project in full. The upfront fee and security deposit as mentioned above has been grouped under Non-current assets and Non-current Loans-Security deposits respectively.
We also draw attention to note no. 9 (t) of the financial results in this regard.
6. Other Matter
The consolidated unaudited financial results include the company's share of net profit after tax of Rs. 23.30 crores and Rs. 32.39 crores and total comprehensive income of Rs. 23 .28 crores and Rs. 32.38 crores for the quarter ended 30th September, 2019 and for the six months period ended 30th September, 2019 respectively, as considered in the consolidated unaudited financial results in respect of two associates, whose financial results/financial information have not been reviewed by us. These interim financial results/financial information have been reviewed by other auditors whose reports have been furnished to us by the management and our conclusion on the statement, insofar as it relates to the amounts and disclosures included in respect of these associates, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 2 above.
- Our conclusion on the Statement is not modified in respect of the above matters stated at paragraph 5 and paragraph 6 with respect to the reports and our reliance on the work done by other auditors.
For SCV & Co. LLP Chartered Accountants Firm Reg No. 000235N/N500089
..c~ 7f,, e:. anjiv Mohan) Partner M. No. 086066
Place: Noida Date: 14th November, 2019
K::SJ HEG LIMITED
Corporate Office : Bhilwara Towers, A-12, Sector -1, NOIDA- 201301.
Registered Office : Mandideep (Near Bhopal ), Distt. Raisen, Madhya Pradesh-462046.
Phone : 0120-4390300; Fax : 0120-4277841
CIN: L23109MP1972PLC008290 Website: www.hegltd.com Email: [email protected]
STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2019
| dedQuEnarter | dedQuEnarter | dedQuEnarter | Half YEndedear | lf YdedHaEnear | Year Ended | ||
|---|---|---|---|---|---|---|---|
| SI.No | . Piculararts | 30-09-2019 | 30-06-2019 | 30-09-2018 | 30-09-2019 | 30-09-2018 | 31-03-2019 |
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||
| I | RefroOptiovenuemeran | S64.38 | 816.51 | 1,793.80 | 1,380.89 | 3,381.18 | 6,592.83 |
| II | OtherIncome | 35.03 | 39.16 | 20.37 | 74.19 | 29.72 | 109.19 |
| Ill | TotalRe(1+11)venue | 599.41 | 855.67 | 1,814.17 | 1,455.08 | 3,410.90 | 702.026, |
| IV | Expenses | ||||||
| Cof mrials cedst oateonsumrchofck-inadePusto-trase | 334.17- | 494.35- | 414.16- | 828.52- | 1.1869- | 1,611.84 | |
| Chin iorioffinishedodork-inndck-in-deentstotraangesnvesgos, w- progress a | {47.40) | {191.75) | (196.32) | {239.15) | {267.71) | -(497.06) | |
| Emloybenefits epeexpense | 23.38 | 28.50 | 52.55 | 51.88 | 98.00 | 197.57 | |
| Finostance c | 9.95 | 9.25 | 5.39 | 19.21 | 8.54 | 17.97 | |
| Deciationdisatioortpren aamn expense | 17.75 | 17.72 | 18.13 | 35.47 | 35.68 | 72.39 | |
| PondFuel (Nef lndivisionalPurchs)t oterwer aase | 40.29 | 48.56 | 45.38 | 88.85 | 86.88 | 183.21 | |
| OthExerpenses | 74.89 | 89.06 | 109.22 | 163.95 | 216.05 | 439.02 | |
| Total(IV)expenses | 453.03 | 495.69 | 448.51 | 948.72 | 868.62 | 2,024.94 | |
| V | Profit/(Loss)befotionalited t(Ill-IV)reexcepmsanax | 146.38 | 359.98 | 1,365.66 | 506.36 | 2,542.28 | 4,677.08 |
| VI | ExtionalItecepms | - | - | - | - | - | - |
| VII | Profit/(Loss)befoTax(V-VI)re | 146.38 | 359.98 | 1,365.66 | 506.36 | 2,542.28 | 4,677.08 |
| VIII | Taxexpense | ||||||
| (1)Cunt Trreax | 1.55 | 121.78 | 475.38 | 123.33 | 881.59 | 1,619.35 | |
| (2)DeferredTax | (34.20) | 3.81 | 1.38 | (30.39) | 1.49 | 7.30 | |
| IX | ShofProfit/ (loss) of aciatesaresso | 23.30 | 9.09 | 13.89 | 32.39 | 19.25 | (24.27) |
| jx~ | rofit/(for theriod-Vlll+INet PLoss)(VIIX)e p | 202.34 | 243.47 | 902.79 | 445.81 | 1,678.45 | 3,026.16 |
| r | OtherCorehiveIne (Nef Ts)t ompenscomaxe | ||||||
| Jn: | A (i)thwill nbelassifiedfitlosIteatottomsrecproors | 0.28 | - | (1.17) | 0.28 | (1.17) | (0.98) |
| .JJ | (ii)Incelatinitethwill nbelassifiedfitlose tatoatottoomx rgmsrecproors | (0.07) | - | 0.41 | (0.07) | 0.41 | 0.34 |
| B (i)Itethwill beclified trofit or loatmse rasso pss | - | - | - | - | - | - | |
| Increlatiitethwill beclified trofit or lo(ii)e ttoatomaxngmse rasso pss | - | - | - | - | - | - | |
| o | C. Sharf OtherehiveInf Aciatese or compenscome osso | (0.02) | 0.01 | 0.02 | (0.01) | 0.03 | 0.05 |
| XII-0<< | talCorehivee ftheriod (ToInX +XI)mpenscomorpe | 202.53 | 243.48 | 902.05 | 446.01 | 1,677.72 | 3,025.57 |
| tsXIII | Paid -UpEquityShCaital(Face Valu10/- pshare)arepe~er | 38.60 | 38.60 | 39.96 | 38.60 | 39.96 | 38.60 |
| XIV | (cludinvalion)ReExReReuatservesgserves | - | - | - | 3,755.09 | ||
| xv | EarninPerSh) -Basic(Rs.)gsare~ | 52.42 | 63.08 | 225.93 | 115.51 | 420.03 | 757.53 |
| iluted()DRs.- | 52.42 | 63.08 | 225.93 | 115.51 | 420.03 | 757.53 |
--=---~u ~lAccou !ants
| TS,E, | |||||||
|---|---|---|---|---|---|---|---|
| inCrtores | |||||||
| QuEndedarter | QuEndedarter | QuEndedarter | Half YEndedear | Half YEndedear | YeEndedar | ||
| SI.No | . Piculararts | 30-09-2019 | 30-06-2019 | 30-09-2018 | 30-09-2019 | 30-09-2018 | 31-03-2019 |
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||
| A | SegRentmevenue | ||||||
| Grhitape | 559.55 | 814.64 | 1,793.38 | 1,374.19 | 3,380.23 | 6,582.28 | |
| Power | 22.45 | 24.57 | 28.85 | 47.02 | 56.72 | 121.47 | |
| Others | - | - | - | - | - | 0.01 | |
| Total | 582.00 | 839.21 | 1822.23 | 1421.21 | 3436.95 | 6703.76 | |
| Less: Ilesntet sar segmen | 17.62 | 22.70 | 28.43 | 40.32 | 55.77 | 110.93 | |
| RefroOptiovenuemerans | 564.38 | 816.51 | 1793.80 | 1380.89 | 3381.18 | 6592.83 | |
| B | SegResulnttsme | ||||||
| Profitbefndfinfrchtaostntorex aance comeasegme | |||||||
| Grhitape | 121.68 | 340.10 | 1,369.61 | 461.78 | 2,550.14 | 4,605.34 | |
| Power | 1.67 | (0.56) | (7.63) | 1.12 | {12.40) | (17.62) | |
| Others | - | - | - | - | - | - | |
| Total | 123.35 | 339.54 | 1,361.98 | 462.90 | 2,537.74 | 4,587.72 | |
| Add/Less: | - | - | - | - | - | - | |
| Intst Ierencome | 9.77 | 11.45 | - | 21.22 | - | 49.75 | |
| Gainle of Ins(Includingin/(loss) on its FairValuation)tmentonsavesga | 21.96 | 17.70 | - | 39.67 | - | 51.49 | |
| OtherUnallocableIncf exet oome npenses | 1.24 | 0.54 | 9.07 | 1.78 | 13.08 | 6.09 | |
| Finostance c | (9.95) | (9.25) | (5.39) | {19.21} | (8.54) | (17.97) | |
| TotalProfit Before Tax | 146.38 | 359.98 | 1,365.66 | 506.36 | 2,542.28 | 4,.08677 | |
| C | SegAsntsetmes | ||||||
| Grhite | 3655.26 | 3473.94 | 3217.19 | 3655.26 | 3217.19 | 3479.11 | |
| apPower | 118.47 | 133.85 | 163.07 | 118.47 | 163.07 | 143.13 | |
| Unalld/Otherateocs | 1568.63 | 2150.83 | 1249.99 | 1568.63 | 1249.99 | 1522.12 | |
| TotalSeAsentsetgms | 5342.36 | S758.62 | 4630.25 | 5342.36 | 4630.25 | 5144.36 | |
| D | SegLiabilitiesntme | ||||||
| Grhite | 1183.53 | 1419.61 | 1066.31 | 1183.53 | 1066.31 | 1120.62 | |
| apPor | 10.92 | 10.62 | 41.02 | 10.92 | 41.02 | 9.62 | |
| weallted/ OtheUn | 140.87 | 291.22 | 178.54 | 140.87 | 178.54 | 220.44 | |
| ocarstalSeiabili~iesTot Lgmen | 1335.32 | 1721.45 | 1285.87 | 1335.32 | 1285.87 | 1350.68 |
| STT OSSETSIESATEMENF AAND LIABILIT | inCr | ||
|---|---|---|---|
| Particulars | Half YEndedear | oresYeEndedar | |
| 30-09-2019 | 31-03-2019 | ||
| Undited | Audited | ||
| au | |||
| A | 'ASSETS | ||
| (1) | Not assetn-currens | 746.51 | 784.49 |
| a)PrortyPlant andEquipntpeme, | 33.24 | ||
| Cab}italork-inpw-progress | 18.584 | ||
| c)InvProestntrtymepe | 3.466.2 | 3.5 | |
| d)Right tAsseto use | 6 | - | |
| Goe)odwill | -0.31 | -0.35 | |
| f}Other Inibletansetgass | |||
| )Intiblenddelopsetntgangass uerveme | - | - | |
| h}Biological Ather thbelants otssseanarer pFin | -- | -I | |
| i)ialetsancass | 1,173.49 | -833.49 | |
| (i)InvestntsmeTradeeivables | - | ||
| (ii)recLoa | 15.07 | -11.19 | |
| (iii)ns(iv)Other Financial Atssse | - | - | |
| j)Deferredts()tanetx asse | - | - | |
| k)Ince TAss(Net)setomax | 39.96 | 39.95 | |
| OtI}het assetr non-currens | 120.71 | 17.27 | |
| TotalNon CAsentseturrs | 2,139.00 | 1,708.86 | |
| (2) | I Cunt atsrresse | ||
| (a)Invorientes | 1,854.79 | 1,308.39 | |
| (b}Finialetsancass | - | - | |
| (i)Investntsme | 15.95 | 108.24 | |
| (ii}Tradeeivablesrec | 679.52 | 1,186.88 | |
| (iii)CasCah &shuivalentseq | 38.34 | 29.16 | |
| (iv)Bankbalanher th(iii)abotcesanove | 322.28 | 528.17 | |
| (v)Loans | 1.00 | 0.62 | |
| (vi)OthFicial Atsersnansse | 06.6 | 5.38 | |
| Ot(c)hent atsr curresse | 284.88 | 268.66 | |
| TotalCunt Atsrresse | 3,203.36 | 3,435.50 | |
| TotalAssets | 5,342.36 | 5,144.36 |
/
| Particulars | Half YEndedear | YeEndedar | |
|---|---|---|---|
| 30-09-2019 | 31-03-2019 | ||
| Unditedau | Audited | ||
| B | EQY &SUITLIABILITIE | ||
| Equity | |||
| (a)Equityshitalarecap | 38.60 | 38.60 | |
| (b)Otheuitr eqy | 3,968.44 | 7SS.03,9 | |
| LIABILITIES | |||
| (1) | Not liabilitien-currens | ||
| (a)Finialliabilitiances | |||
| (i)Bowinrrogs | - | - | |
| (ii)TradePayables | - | - | |
| (iii)Other fincial liabilities-SrityDeitanecupos | 0.40 | 0.41 | |
| (b)Provisions | 3.69 | 3.87 | |
| (c)(t)Deferredtax liabilitiNees | 9S.81 | 126.13 | |
| (d)Othet liabilitier non-currens | 2.57 | 2.40 | |
| TotalNon Cliabilityenturr | 102.47 | 132.81 | |
| (2) | Cunt liabiliti | ||
| rrees()Fincial liabilitiesaan | |||
| (i)Bowinrro | 642.33 | 666.36 | |
| gs(ii)TradePayables | - | - | |
| (A)OTotalutstandinduef microterisendallentrisegs oenprs asmerps | 4.70 | 3.99 | |
| (B)OuTotaltstdinduef creditother thicroterisendallangs ors oanmenprs asm | |||
| riseenterps | 467.19 | 376.08 | |
| (iii)Other fincial liabilitieans | 71.54 | 130.17 | |
| (b)Otheliabilitintr currees | 15.15 | 16.05 | |
| (c)Provisions | 5.31 | 19.78 | |
| Cu(d)nt TLiabilities(Net)rreax | 26.62 | 5.43 | |
| TotalCuLiabilinttyrre | 1,232.85 | 1,217.86 | |
| TotalEquityd Liabilitianes | 342.365, | S,144.36 |
~/(
| CASHFLOWSTATEMENT | inCrtore | |||
|---|---|---|---|---|
| PARTICULARS | PeriodEnded | PeriodEnded | YeEndedar | |
| 30-09-2019 | 30-09-2018 | 31-03-20 | ||
| Unditedau | Unaudited | Audit | ||
| CASHFLOWFROMOPERATING ACTIVITIES | ||||
| Profitbefore Tax | 506.36 | 2,542.28 | 4,.08677 | |
| Adjust fotinndashctiotmtraenr nonoperag anon cnsans | ||||
| DeciationdAmisatioortpren an | 35.47 | 35.68 | 72.39 | |
| Intst Paidere | 19.21 | 8.54 | 17. | |
| t(fit)/Lo/ dNeProertlant anduipnt soldiscardedssonpropy peqme | 0.83 | 0.60 | 3.3 | |
| fod CAllr Ecteredit Lowancesxpeosses | (1.17) | 2.47 | 5.3 | |
| /loUnlised gainstatemtreassonreen | 16.51 | 12.25 | (25. | |
| BadDebts | 1.11 | 0.22 | 0.2 | |
| Gain oale/fair valuatiofinvestntsn sonme | (39.67) | (51. | ||
| Intivedst rereece | (21.22} | (16.76) | (49 | |
| ts fAdjustmchas insetndliabilitienorngeass aes | ||||
| (se)/DelncinTradeeivablesreacreaserec | 491.24 | 389.50 | (194 | |
| (lncse)/DeinInviestorreacreaseen | (546.40 | 445.02 | (796 | |
| (lncse)/DeinLoafincial and Othesetreacreasens,anr ass | 185.05 | 52.43 | (677 | |
| se/()lncDeinLiabilitiendvisionreacreases apros | 18.36 | 414.76 | 168 | |
| Casfroh gtedtioeneramoperans | 66S.68 | 113.10 | 3,149 | |
| Incaide taomx p | 102.07 | 883.08 | 1,661.5 | |
| t Cfros (A)Neashratedtinctivitiegenemoperag a | 1,488.2 | |||
| CASHFLOWFROMINVESTINGACTIVITIES | ||||
| AdditioninPrlanndEquip(includingCaitalork-ins)ertt antsopy pmepw-progres | 563.601,230.02(19.66)(2S.61)0.530.431.78(102.36) | |||
| (48. | ||||
| Saf P | 1.0 | |||
| le oPlandEquipertnt antsropyme | (11. | |||
| (lncse)/DeinAdfor CitalExnditureacreasevancesappere | (0.6 | 3.7 | ||
| lncse/(De)in Creditors fCaitalExnditureacreaseorppere | 35(1.9 | (1,094 | ||
| () oPurchf Intmentasevess | 176 | 427 | ||
| Sale of Intmentvess | 19. | 45 | ||
| Intivedst rereece | 278 | 675 | ||
| Net Cashedin istinctivities (B)usnveg a | ( | ( | ||
| CASHFLOOMNCINGACSWFRFINATIVITIE | ||||
| Ref Bing(Non-C)nt oentpaymeorrowurr | (24. | 368 | ||
| Prods/(Rent)ofBowin(Cunt)(workingital)ceepaymerrogsrrecap | 19. | (17. | ||
| Intst Paidere | (192 | 319 | ||
| DividendPaid | ( | (65. | ||
| ~v | DividenddistributiTaaidonx p | (39. | ( | |
| Buback of EityShCaitalyquarep | 75-(1.«: | |||
| Net Cashedin financiivities(C)actusng | (275.88 | ())()()2,6)5.12(822.67)0).232813.74.54)(827.22)44.4603)}(8.21}21(199.80).98)(41.07)67)(204.61))8198.197.62205.82 | (788 | |
| NET INCREASE(DECREASE)INCASHAND CASH EQUIVALENTS(A+B+C) | 9.1 | 23. | ||
| ICash andh eivalent the binningoftheriodts acasquegpe | 29.16 | 5.1 | ||
| Cash andh euivalentt thndoftheriodcasgs ae epe | 38.34 | 29 |
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| Notes: | |
|---|---|
| 1 | The fiofthendingevieriod/ yehave bd /t/ reclified whesidd nndriod/r clificatitotontgurescorrespoprous pareen regrouperecasassreverconereecessarycorrespocurrepeyeaasson |
| 2 | Optior HdroPor Plant Talin nThlanrally rainlosedin the1singinthe2nd qeaks inthe 3rdbefrindoinatt aatut get qrtetarts oratrtearttaeransouyweawa areseasonre.e pneems cuar, speuar, pquerorepegwnthelasr. Thetioat Ta Plant hadd f14th A2019rdst qrtestartest,uaoperansawromuguonwa |
| 3 | Thbovsolidatedfincial results hberedindanwith theCoies(IndianAcntinStandards)Rules, 2015ibed undSection 133oftheCoiesAct, 2013adwithe ae conanaveenprepaaccorcempancougasprescrermpanrerelntrules isd thendevasuereuer. |
| 4 | FinialultshabeeiewedbyAuditCoittendd bBoardofDis intheirctivings held14thNomb2019d hbeiewedbytheStAuditofthetoreetatutorancresven revmme aapproveyrecrespee monveer,anaveenrevyorsThe SAudithaseddifiedinioheafoaidsultatuton tts.company.ryorsveexpresanunmoopn oresre |
| 5 | EffiveApril1, 2019heCoadtedInd AS 116"Les"liedall lexistinn Ail 1, 2019usitheodified riveethodalowith theitiotioiseRihtect, ttontractetrecttran tmpanyopaseappasecos eg oprngmospmngnsn opo recogngof-Ust (ROU)al thelealiabilityatnt eo te asseanamouquse |
| In rofleathclassifiedfinlealyingInd AS 17, af Rs. 6.34has beclified fPrPlandEquipo Right of usAnf Rs. 0.01ectatt oertnt ant tts.nt oespseswereasanceses, appn amouncroreeen rassromopy,mee asseamouhasbelassifiedfroothfincial liabilitylealiabilityndf Rs. 0.41has beclified fher fincial liabilitylealiabilityt tot ant ootnttocroreenrecmeran- currense- currenanamoucroreeen rassroman- noncurrese- nonnt.curre | |
| The leinf all Oingleadswithin12nthf the dofinitial aplicationdordinglythehaseled tfochleashleaandhanisedtect oratatecteuntortteasermrespepesesenmos opn aacccompanyo accor susesasrmses recogtheleantsntal exsepaymeasrepense. | |
| off InS 1finf thThisimpactadtiod A16thecial results orteerenoopn oonane quar. | |
| 6 | e CSeofs (t)OrdCoThhaselected tcise thetioitted undction 115BAAthe Itax Act,1961 as introducedbythe Ttion LAmdmina2019.Acdinly,thehaompanyo exeropn permerncomeaxaawenenncecorgmpanysnizedvisionfor inx for thix mthsriod ended 30thSeber 2019d rd its defed tax liabilitythe basif raibed inthaidSection. Theimpofthihantatemteactrecogprocomee sonpepane-measurerreons oprescre ss cgef proff thSeofRs.Crfhasbenizedin thestatent oit andlosrtended 30thtember, 2019. Ithasultedinreductionnt tliabilityntito47.55d halsltedinal oenrecogmes oe quar eps recurreaxamoung. anaso resureversdeferredx liabilityntiRs.34.11Cr. The fullimpofthis chanhasbeized inf Profit &Loforthded 30thSeber, 2019tatoactstatent ortetemamounggeenrecognmesse quar enp |
| 7 | Thsolidatedfincial results hberedinlianofSEBI CircularCIR/CFD/CMD1/44/2019Dated29thMarch2019.InthiouheCohad otedblish coliddr, ttoatee conanaveenprepacompcee prevs yeampanyppuonsfincial resull basis. The financialultsofcialidatedinthefincial results fthed halfded 30thSebeedbytheBoardofDits otwtesarttemr, 2018torann an annuareso assoconsoseanorqueranyearenpare approvrecsofe Sts ffoalfSethectivnies buthavotbeeubjectedtoiewbythtatutoAudit. Hsultheartded 30thJu2019andr thrted hded 30thtember, 2019respee compae nn srevryorsowever reorquerenne,e quar anyearenphave biewedbythective SAudittatutoeen revresperyors |
| 8 | The BrdofDirintheir mtinheld ondApril,had decidedrchadditionalshainBhilwEnlimited (BEL),Asiateofthefoatinashectn 22019,to3,23,51,004oaorseegpuaseresaraergyansoccompanyr an aggregg csidtiof Rs 162.05Crs. Thefailuatiof shf BELis Rs. 50.09 pshawhichs dinedbyInddent ValuPthbovisitionofshheholdinf Cin BEL,eteosts, tconeran oorer van oares oerre,warmanepener.e ae acquareg oompany |
is increased from 29.48% to 49%.
./ r
| 9 | I Nofinf Bf thtesrinin theuditedlidatedcial results ohilwEnLimitedciate ciese beinrodd hundappeagunaconsoanaraerg, one oe assoompan, arg repuceereer:y |
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| (a) | I OnAprilthe MalaPor CLimited{MPCL) oofthebsidiahasceivedovisiol net dd of "80 Lakhs inlationwhlingchfortheriodAprilo Mh27,2019,069.0to1,2008 tnaweompanynesuryreprnaemanreeeargese parc,31,2019froHimachal PradeshStElriciBoardLimited(HPSEBL)basedded btheHichal PradeshElriciRelatoCoission(HPERC),whichist indanwith theateecttyecttymonanorr passeymagurymmnoaccorceredbetheMPCL andHPSEB (w HPSEBL)in A1999. Inthis rrd,theMPCLhasid undf "2817.00 Lakhs. Bd ohelegal oiniobtained, theMPCLisnt entetweusttest annt on tagreemeennougegapaerproamouasepn o,oftheviehat dd ist lellyable anduldlt inrial liabilifortheriodbefMh 2the MPCL andordinglyhasfiledl before Allatribl,w ttent reatety019e temannogawonosuany me ponororearconaccanappeappeunaEleicitt NDelhi.ctry aew |
| (b) | e CCo(CERC)n OOc')h CERCIThentralElectricitRelatoissionhasd arder datedtob17,2019theA.D.HdroPor Limited{'thestedobsidiain whichaedtheitalgurymmpasseeronwepwnsury companys approvcapyyf the dedicatedissionlinf the Cnti"23892.00 Lakhinst thitalubmittedbythe Cing"41,661.00 Lakhs (thedaf COD)/ "4284.00t otratost sunttote o5,cosnsme oompanyamoungs as agae capcoompany amoon,Lakhs(includingadditional citlisation)anddinlydeminedthel fixedts ftheofutiiff fusiissionline for theriod2011-122018-19,bsetertartratont tapaccorgannuacosorpurposecompngorngnsme psuqueoandsixthsded Sber 302019.arttemquermonenep, |
| Tht isoftheviehat thethodeddeminheitalst btheCERCin ardawiththeovisioofCealEleicitRelatoCoission(Ted Conditioofw ttotere totntrctre managemene muscapcoywas ncconceprnsygurymmrmsanns)TariffRelatifortheriod2009-14 and2014-19andElectricityAct,2003.Pendinglititiondfinal outce tordsdeterminatioftarifffosintraissionline, theentbasedtheguonse pgan aomwaonr ugnsmmanagemon,,legal oiniois of thiewthheOrder ist lellyable anduldt harial liabilihebsidiafurthCoisin thef filingl withthriaat ttenatety on ttepn,e vnogawonoveanymsury company,ermpanyprocess oanappeae appropthorityd ardilydeceivable aatin"3,112.47Lakhsisodandfullyrable andvisionisuiredin rofssibleting"635.61Lakhsrdstratoectto,5toauanccongreggregggorecovenoproreqesppoexposureaggregawaill Snt alreadyllectedfrom thetomer ttember 302019.amoucocusep, | |
| LDCFurththt isnfident that thuldbesignifit imct on thefinancialitiof thubsidiain rectoftraissionloswhichistobedeterminedbytheNRer,e managemencoerewonocanpaposn oe sry companyespnsmsesasdiredin theCERCOrdeectr. | |
| (c) | I Pe@"@"ndiionoftheal of PPAired on Mh 31,2019,theBGWINDPor Ltd-Subsidiahasnised3.14/kwh(pious PPA3.69/kwh)basedtheder isd bRERC videcutngexerenewexparcweryrecogrevenuerevonorsueyitsthirddmlationdatedh Mh 2fotiof the PPADISCOM ftirebalanject life. GBI alsokenlicable@50 Paise /kwh.SiheCohad thet re5t019totaatte, trteamenenguarcr execun oorenceproapprancempanys expoDISCOMdurintheandthe Mf thbelievthat PPAwill besignedthfore it haised RfroSale of Pof"225.27 LakhndGeionBasedr toartt oratpowegqueranagemene companyeseres recognevenuemowers aneIncive(GBI) of "39 Lakhs. In thntihasfiled writtitiwithRajasthan High Ct Jaipur inthis rrd.Thdaofhearingish Nmbent5.9, BGWPLrt aextte13t2019.e meamepeonouegae nonoveer |
| (d) | I Duringthe financial yr 2012-13,NGO hadfiled alegal cainheCo/ NJCHydroPor LimitedNatiol Gn Tribl (NGT)challeningthe Envil Clea(EC)iven for thst tatntaeaanaseagmpanywenareeunagronmerancege) pNyjanChhuHEP.Duhisthe Chadt thntiNyjanChhuHEP (6x130MWrojhold.NGT intheirder dated7th Ail,2016hasnded theEnvirnt Cleade to ttoectnteamgompanypue ereamgonorprsuspeonmerancegratheojeill thedies dired bNGT aiedublicsulionhad alsobedoheEACnsidef suchblicltationrriefreshraisal of pl fotoct tstuctet, ptat, tutcut atprs ayre carrouconennecors oome opuconsu, cas oapproposar granofEC,akedatioheMOEF& CC andtheMOEF& CC achndation indanwith thelaw. NGTalso dired MOEF &CCaketudf E-Flouirn to tctsctetorattms recommenuponsurecommeaccorcema sepae sy ow reqemenforctiof HabitatoftheBlackNacked CndforthionoftheBlackNacked Chroh theWildlifeInstituofIndia.otevate tteprn orane ae conserranug |
| BEL/NH PL hadfiled petitiondtioofArbitionAct indistricf ITANAGARfor imdiareliefintain theinst the inotiissuedbyGOAPfoinatiof thn 9ratt courttetostatusstant nr ten uersecs omemaquo agacermn oeProjecn 22.03.2019invokingitsright taker throj"AS IS WHEREISBASIS".t oo tectovee pon | |
| Districd thededmittithetitid maintaininthe"STATUS QUO" ohejecd halsendedtheinatiootiissuedbyGoAP. Thdate ffinalhearingis13tht courtn tt anteextpasseorr angpeonangproaso susprmn ncee noronDeber 2019.cem | |
| (e) | I Duringdin31March2019,Imirmf CitalWorkinProin Colidd financial st shndoththehas imired its ininf thartt oatetattmentquerengpaenapgressonsemenown uererexpensesascompanypavesone oe,subsidiarylyNJCHydroPor Ltd ohebasis of the inl asofthent kinginvief the indicf the iairultiintedionintheCaitalWork-in-Prs bn tterentatontuctnamewenasessmmanagemeeepw ors ompmeresngo rpogresy"12389.30 LakhINDAS110.Duringtheriodf "27.64 Lakhs hbeen fher imired.nt ourts as pere panamouaspa, |
| (f) | J DurioCho YthaHydroPor Limited-SubsidiatheCho YthaHEP ist beingedrelofrioiallegal it inthrolofthede tocutuntontvausreasons,angangngwery,angangngnoexpuy on accovaussocssuesnoe ccompanyand fGof Hforfunf ufrof "3@e Cthehad sderedthrojectiledlicatioithvt o.P.d ont piumd sritydeit o969.45 Lakhlonithinterest10%. This ctantlycompanyurrene panappn wrepremanecuposs ag wompanonsy,followingwiththeStGot for thefundoftheiumateupvernmene rprem |
| GFor HELimited,Rai Jhunjhualavnw | |
| Place | ChairmMaingDireCEOctor &annag: Noid(U.P)a, |
| Dated | DINNo.'000609724thNbe: 12019ovemr, |