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Hind Rectifiers Ltd. Interim / Quarterly Report 2019
62363_rns_2019-08-22_e285c90d-0e20-4451-9af2-92098b3389ce.pdf
Interim / Quarterly Report
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HIND RECTIFIERS LIMITED
REGD. & H.O. LAKE ROAD, BHANDUP (W), MUMBAI - 400 078. ,TEL.: +91 22 2569 6789 .FAX: +91 22 2596 4114 .www.hirect.com [email protected] / [email protected] .CIN: L28900MH1958PLC011077
Ref. No. HIRECT/SEC/2019—20/ 49 20th August, 2019
The National Stock Exchange of India Limited "Exchange Plaza" 5th Floor, C-1, Block 'G' Bandra Kurla Complex Bandra (East) Mumbai 400 051 Security Code No. 504036/HIRECT Type of Security: Equity
Sub: NSE mail dated 14th August, 2019 for clarification on financial results.
Dear Sir,
This is to inform you that we have received your email dated 14th August, 2019 regarding Machine Readable Form/Legible Copy of Unaudited Financial Results not submitted by the Company for the period ended on 30th June, 2019 and segment reporting.
In this regard we clarify that Unaudited Financial Result was submitted to your good office through NEAPS platform for the period ended on 30th June, 2019, we are hereby submitting again the Unaudited Financial Results for the period ended on 30th June, 2019 of the Company in Machine Readable Form/ Legible Copy as desired by you for your reference and record.
Further, kindly note that as the revenue from 'Components' segment was reduced to less than 10% in the year 2017-18 and continues to be less than 10% in the current financial year. At Present, the Company operates into a single reportable segment as per Indian Accounting Standard 108.
Your good office is requested to kindly accept our reply and do the needful.
Kindly acknowledge the same.
Yours Faithfully,
For Hind Rectifiers ,LW'QDAU MIX/:0em0
MeenakshiAnchlia (Company Secretary & Compliance Officer)
Encl: A/ a
- - RaVI A' Shah 8" ASSOCIates Vile Parle West, Mumbai -400056
10, Shriniket Apts, 23, Bajaj Road Chartered Accountants +91 22 2613 5613; +91 98190 63558 [email protected]
Limited Review Report
To The Board of Directors of Hind Rectifiers Limited
We have reviewed the accompanying statement of unaudited financial results of Hind Rectifiers Ltd. ('the company') for the quarter ended June 30, 2019 ('statement'). 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 review in accordance with the Standard on Review Engagement (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 from material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited financial results prepared in accordance with the applicable accounting standards i.e. indian Accounting Standards ('Ind-AS') prescribed under section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
for Ravi A. Shah & Associates Chartered Accountants | Firm Reg. No.:125079W
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. ah 3 Membership No.116667 \V UDIN: leoqé Mumbai, August 8, 2019
HIND RECTIFIERS LIMITED
REGD. & H.O. LAKE ROAD, BHANDUP (W), MUMBAI -400 078. . TEL.: +91 22 2569 6789 . FAX: +91 22 2596 4114 .www.hirect.com . [email protected] l [email protected] . CIN: L28900MH1958PLCO11077
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2019
| (Amount in Lakhs) | |||||
|---|---|---|---|---|---|
| sr No | "new" ' P |
For the Quarter ended on |
For the Year ended on |
||
| 30.06.2019 (Unaudited) |
31.03.2019 (Audited) |
30.06.2018 (Unaudited) |
31.03.2019 (Audited) |
||
| - 1 |
Income | ||||
| a | Revenue from operations | 6,834.83 | 8,392.92 | 4,328.14 | 25,514.29 |
| b | Other income | 4.25 | 42.05 | 9.37 | 61.55 |
| Total income | 6,839.08 | 8,434.97 | 4,337.51 | 25,575.84 | |
| Expenses | |||||
| a | Cost of materials consumed | 4,832.36 | 6,427.12 | 3,473.22 | 19,299.73 |
| b | Purchases of stock-in-trade | - | — | - | _ |
| c | Changes in inventories offinished goods, work—in-progress and stock-in- trade |
(104.42) | (303.12) | (377.74) | (708.89) |
| d | Employee benefit expense | 645.96 | 560.84 | 519.39 | 2,231.14 |
| 6 | Finance costs | 141.15 | 186.83 | 171.33 | 700.24 |
| f | Depreciation and amortisation expense | 97.33 | 66.50 | 67.29 | 271.86 |
| g | Other Expenses | 492.51 | 835.14 | 300.43 | 2,161.90 |
| Total expenses | 6,104.89 | 7,773.31 | 4,153.92 | 23,955.98 | |
| Profit/(Loss) before exceptional items |
|||||
| 3 | and tax | 734.19 | 661.66 | 183.59 | 1,619.86 |
| 4 | Exceptional items | (2.54) | - | 45.05 | |
| 5 | Profit/(Loss) before tax | 734.19 | 659.12 | 183.59 | 1,664.91 |
| 6 | Tax expense | ||||
| a | Current tax | 97.82 | |||
| b | Deferred tax | 116.50 | 163.03 | 51.18 | 485.83 |
| 7 8 |
Net Profit/ (Loss) after tax Other comprehensive income/(loss) |
519.87 | 496.09 | 132.41 | 1,179.08 |
| Items that will not be reclassified to profit and loss in subsequent period (1) Actuarial Gains/(Loss) on post employment defined benefit plan |
199 | 1'28 | 3'67 | 7'90 | |
| (ii)Tax on Above | (0.58) | (0.46) | (1.02) | (2.30) | |
| 9 | Total Comprehensive income for period |
521.28 | 496.91 | 135.06 | 1,184.68 |
| 10 | Details of equity share capital Pald-up equlty share cap1tal of Rs. 2 each |
331.27 | 331.27 | 331.27 | 331.27 |
| '1] | Reserves excluding revaluation reserve |
||||
| Earnings per equity share | |||||
| Basic & Diluted ,. \ J |
3.14 | 2.99 | 0.82 | 7.12 |
EMI CONDUCTORS . RECTIFIERS ..INVERTERS . CONVERTERS . TRANSFORMERS
I .'
HIND RECTIFIERS LIMITED
REGD. & H.O. LAKE ROAD, BHANDUP (W), MUMBAI - 400 078. . TEL.: +91 22 2569 6789 . FAX: +91 22 2596 4114 .www.hirect.com . [email protected] I [email protected] . CIN: L28900MH1958PLCO11077
Notes :
1) The above results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 8th August, 2019. The Statutory Auditors have carried out the Limited Review of the financial results for the quarter ended 30th June 2019 under Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
2) The above results, published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been prepared in accordance with Indian Accounting Standards (IND AS) notified under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules, 2015; Companies (Indian Accounting Standards) (Amendment) Rules, 2016 and guidelines issued by the Securities and Exchange Board of India (SEBI) and other accounting principles generally accepted in India.
3) During the quarter ended 30th June, 2019, the company has not granted any stock options.
4) The figures for the quarter ended 315t March, 2019 are the balancing figures between the audited figures in respect of the full financial year ended 3lst March, 2019 and the published year to date figures upto the nine months ended 315t December, 2018 of the previous financial year.
5) Previous year's figures have been reclassified and regrouped wherever necessary.
Place: Mumbai Dated: 8th August, 2019.
FOR HIND RECTIFIERS LIMITED
0 —'_' S.K.NEVATIA N CHAIRMAN 81 MANAGING DIRECTOR