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Ice Make Refrigeration Limited — Interim / Quarterly Report 2022
Aug 12, 2021
61561_rns_2021-08-12_9975eb19-1bba-4a4b-95e2-01f41c560385.pdf
Interim / Quarterly Report
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�ICE MAKE
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August 12, 2021
National Stock Exchange of India Limited
Exchange Plaza, Plot No. C / 1, G Block, Bandra Kurla Complex - Bandra (E) Mumbai - 400051
NSE Symbol: ICEMAKE
Subject:. Outcome of the Board Meeting - August 12, 2021
Reference: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir,
We would like to inform you that the Board of Director of the Company at its meeting held today, has interalia considered, approved and taken on record the Unaudited Financial Statements (Standalone and Consolidated) of the Company for quarter on June 30, 2021 as recommended by the Audit Committee.
Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the following:
-
1) Statement Showing the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended on June 30, 2021;
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2) Limited Review Report on Financial Results - for the quarter ended on June 30, 2021 (Standalotie and Consolidated);
The Meeting of the Board of Directors was commenced at .1[1 ]['. ][3d ] A r;1nd was concluded at .3: ;IS 'M
Kindly take the same on records.
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Thanking you.
Yours faithfully, ·
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ICE MAKE REFRIGERATION LIMITED
AN ISO 9001 : 2015, ISO 14001 : 2015 & BS OHSAS 18001 : 2007 CERTIFIED COMPANY Commercial & Industrial Refrigeration Equipment Manufacturer
Registered Office/ Mailing Address:
9 B/1, Ground Floor, Vasupujya Chambers, Nr. Income Tax Cross Road, Ashram Road, Ahmedabad-380 014, Gujarat - India. � + 91-79-27540630 e+ 91-79-2754052fi Corporate Office/ Plant Address:
9 226, Dantali Industrial Estate, Gola - Vadsar Road, Nr. Ahmedabad City, At: Dantali, Ta. : Kalal, Dist. : Gandhinagar - 382721, Gujarat· India.
� +91 9879107881 / 884 e + 91-79-27540620 � [email protected] � www.icemakeindia.com
C.I.NO : L29220GJ2009PLC056482
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�ICE MAKE
ICE MAKE REFRIGERATION LIMITED
Trt.tsf-eJ Coo(it"' Pat-fk-er
Statement of Standalone Audited Financial Results for the quarter ended 30 th June, 2021
(Rs in Lakhs except EPS)
| Particulars | Particulars | Particulars | QUARTER ENDED YEAR ENDED |
QUARTER ENDED YEAR ENDED |
|---|---|---|---|---|
| I Revenue from operations |
30/06/2021 31/03/2021 (Unaudited} (Audited' 3,161.9S 5,207.68 |
30/06/2020 31/03/2021 (Unaudited (Audited 1,693.65 13,145.13 |
||
| II | Other Income | 19.17 63.94 |
17.15 117.27 1,710.80 13,262.40 |
|
| Ill | Total Income(1+11) | 3,181.13 5,271.62 |
||
| IVExpenses (a)Cost of materials consumed (blPurchasesofstock-in-trade |
1,849.77 3,845.08 - - |
1,202.77 9,365.25 . 33.32 1362.08 |
||
| (cl | Changes In Inventories of finished1wods and work-in-orocess | 518.63 (287.31) |
||
| (d) | Employee Benefits Expenses | 313.74 345.76 |
177.80 1,012.17 37.62 166.00 84.91 **354.80 ** |
|
| (e) | Finance Costs | 24.64 30.42 |
||
| **(f ** | Depreciation and amortization expenses | 79.57 92.50 |
||
| (g)Other expenses Total expenses(IV) |
Other expenses | 465.66 817.69 |
272.78 2,078.66 |
|
| 3,252.02 4,844.13 |
1,809.20 12,614.81 |
|||
| VProfit/ (Loss) before exceptional items and tax(Ill-IV) | (70.90) 427.48 |
(98.40) 647.59 . (98.40) 647.S9 |
||
| VIExceotional Items | ~~-~~ - |
|||
| VIIProfit/ (Loss)Before TaxIV - VI) | (70. 90) 427.48 |
|||
| VIIITax expense : | ||||
| a) Current Tax | 0.05 117.30 |
175.50 (3.62) 16.45 |
||
| b)Deferred Tax Liability/ (Assets) | (18.18) 6.68 |
|||
| c)Adjustmentof tax for Earlier Years | ~~-~~ | ~~-~~ 6.31 13.62) 198.26 |
||
| Total Tax Expenses (VIII) | (18.13) 123.98 |
|||
| IXProfit/ (Loss)for thepreiod from continuingoperations(VII - VIII) | (52.76) 303.51 |
194.78) 449.32 |
||
| XProfit/ (Loss)from discontinuingoperations before Tax | . | ~~-~~ | ||
| XITax expense of discontinuingoperations | ~~-~~ | ~~-~~ ~~-~~ |
||
| XIIProfit/ (Loss)fromdiscontinuingoperations | ~~-~~ - |
- . |
||
| XIII Profit/ (Loss) for the period(IX+ XII) | (52.76) 303.51 |
(94.78) 449.32 |
||
| XIVOtherComprehensive Income (net of taxes) | ||||
| i) Items that will notbe reclassifiedtoProfit or loss |
||||
| a)Remeasurements of the definedbenefitplans | 10.20) (30.14 |
9.78 (0.80) |
||
| b) | Income tax relating to items that will not be reclassified to profit or loss 0.05 7.59 |
(2.46) 0.20 |
||
| XItotal comprehensive income for theperiod(XIII+XIV) (52. 91) 280.95 |
(87.46) **448.73 ** |
|||
| XII Paid up equity share capital(face value of Rs. 10pershare) 1,S67,20 1,567.20 XIII Otherequity excludingRevaluation Reserve ~~-~~ ~~-~~ |
1,567.20 **1,567.20 ** |
|||
| - 4,350.76 |
||||
| XIVEarnings per share (of Rs. 10/- each} (for continuing operations) (not annualised): |
||||
| Basic 10.34) 1.94 |
(0.61) 2.87 |
|||
| Diluted 10.34 1.93 Earnings per share (of Rs. 10/- each) (for discontinued operations) (not annualised): |
(0.61) 2.86 |
|||
| Basic ~~-~~ ~~-~~ |
~~-~~ . |
|||
| Diluted . ~~-~~ |
~~-~~ . |
|||
| Earnings per share (of Rs. 10/- each) (for discontinued & continuing operations) (not annualisedl: |
||||
Basic 10.34) 1.94 |
10.61) **2.87 ** |
|||
| Diluted 10 .34) 1.93 |
10.61) 2.86 |
NOTE5:-
-
1 The above standalone financial results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company in their respective meetings held on August 12, 2021.
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2 The statutory a_uditor have carried out "Limited Review" of the financial result for the quarter ended June 30, 2021 as per regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
3 The Company operates in a single segment and in line with Ind AS 108 - "Operating Segments", the operations of the Company fall under "Manufacturing of Cold Rooms, Freezer, Refrigeration System, Chilling Plants, etc." which is considered to be the only reportable busi�1,� segment. �..,,. ·rillG� - �� {��� /j(� . . . . -· o-:·,i '. $\ �-· .. JJ.! /"- ,� {< ... ◊� AN ISO 9001 : 2015, ISO 14001 : 2015 & BS OHSAS 18001 . 2007 CERTIFIED COMPANY -->?;- Commercial & Industrial Refrigeration Equipment Manufacturer ICE MAKE REFRIGERATION LIMITED
Registered Office/ Mailing Address:
Q B/1, Ground Floor, Vasupujya Chambers, Nr. Income Tax Cross Road, Ashram Road, Ahmedabad-380 014, Gujarat - India. ii +91-79-27540630 �+91-79-27540620
Corporate Office/ Plant Address:
Q 226, Dantali Industrial Estate, Gola - Vadsar Road, Nr. Ahmedabad City, At: Dantali, Ta. : Kaloi, Dist.: Gandhinagar - 382721, Gujarat - India. ii +91 9879107881 / 884 � +91-79-27540620 121 [email protected] � www.icemakeindia.com C.I.NO :
C.I.NO : L29220GJ2009PLC056482
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�ICE MAKE
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4 The company has one wholly owned subsidiary M/s. Bharat Refrigerations Private Limited.
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5 The Parliament of India has approved the Code on Social Security, 2020 (the Code) which may impact the contributions by\l\'�'t1r,4A�Q-{Y"' Pat"fi-H•t" provident fund, gratuity and ESIC. The Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. Final rules are yet to be notified. The Company will assess the impact of the Code when it comes into effect and will record related impact, if any.
-
6 Previous year figures have been regrouped/rearranged wherever necessary.
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7 This statement has been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Indian AS) prescribed under Section 133 of the Companies Act, 2013 and rules amended from time to time.
-
8 The Company has assessed the probable impact of COVID-19 pandemic. It has considered internal and external information available up to the date of approval of these financial results and expects that the carrying amounts of inventories, trade receivables and other assets are recoverable. However, the impact of COVID-19, including the current wave, may be different from that estimated as at the approval of these financial results. The company will continue to monitor any material changes to future economic condition.
For and on Behalf of Board of Directors, Ice Make Refrigeration Limited
For and on Behalf of Board of Directors, Ice Make Refrigeration Limited � Chandrakant Patel Ankit Patel Chairman & Managing Director Chief Financial Officer DIN • 02441116
Date: August 12, 2021 Place: Gandhinagar
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ICE MAKE REFRIGERATION LIMITED
AN ISO 9001 : 2015, ISO 14001 : 2015 & BS OHSAS 18001 : 2007 CERTIFIED COMPANY Commercial & Industrial Refrigeration Equipment Manufacturer
Registered Office/ Mailing Address:
Corporate Office/ Plant Address: Q 226, Dantali Industrial Estate, Gola - Vadsar Road, Nr. Ahmedabad City, At: Dantali, Ta. : Kaloi, Dist. : Gandhinagar - 382721, Gujarat· India. � +91 9879107881 / 884 � + 91-79-27540620 121 [email protected] � www.icemakeindia.com C.I.NO : L29220GJ2009PLC056482 Q 8/1, Ground Floor, Vasupujya Chambers, Nr. Income Tax Cross Road, Ashram Road, Ahmedabad-380 014, Gujarat - India. � + 91-79-27540630 e+ 91-79-27540620
UMESH SHAH & ASSOCIATES CHARTERED ACCOUNTANTS
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Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results of Ice Make Refrigeration Limited pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure requirement) Regulations, 2015 (as amended).
To
The Board of Directors of ICE MAKE REFRIGERATION LIMITED
-
We have reviewed the accompanying statement of standalone unaudited financial results of Ice Make Refrigeration Limited (''the Company") for the quarter ended on 3o[t1] , June, 2021, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (as amended), including relevant circulars issued by the SEBI from time to time.
-
This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors of the Company, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 ("the Act"), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. 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. 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 the Standards on Auditing specified under section 143(10) of the Act, 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.
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7 8, 4th Floor, Sneh Shrust1 Complex. Sambhav Printing Press Lane, Near Judges Bunglows, Bodakdev, Ahmedabad-380 015. Phone: 079 26872095 TeleFax: 079 40007747 E-mail [email protected]
UMESH SHAH & ASSOCIATES
CHARTERED ACCOUNTANTS
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- Based on our review conducted as 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 Ind AS 34 prescribed under Section 133 of the Act 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 Umesh Shah & Associates Chartered Accountants istration No. 0114563W)
CA Partner (Membership No. 048415) UDIN: - 21048415AAAAJQ8288 Place: Ahmedabad Date: August 12, 2021
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7-8, 4th Floor, Sneh Shrust1 Complex. Sambhav Printing Press Lane, Near Judges Bunglows, Bodakdev, Ahmedabad-380 015. Phone: 079 26872095 TeleFax: 079 40007747 E-mail: [email protected]
�ICE MAKE
ICE MAKE REFRIGERATION LIMITED
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Statement of Consolidated Audited Financial Results for the quarter ended 30th June, 2021
| (R I Lakh s. n s except EPS) |
(R I Lakh s. n s except EPS) |
(R I Lakh s. n s except EPS) |
(R I Lakh s. n s except EPS) |
(R I Lakh s. n s except EPS) |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| QUARTER END | ED YEAR ENDED |
|||||||||||
| I | Pariculars Revenue from operations |
30/06/2021 (Unaudited) 3,243.95 |
30/06/2020 31/03/2021 |
|||||||||
| 31/03/2021 | ||||||||||||
| (Audited) (Unaudited) (Audited) 5,379.85 1,689.27 13,464.99 |
||||||||||||
1,689.27 13,464.99 |
||||||||||||
| II | Other Income |
11.75 3,255.70 1,883.41 |
5 | 63.94 |
9.47 122.11 1,698.74 13,587.10 1,191.30 9,452.65 - 33.28 (365.28) 195.31 1,108.28 |
|||||||
| Ill | Total Income{1+11) | 5,443.79 3,852.15 |
||||||||||
| IV | Expenses (a) Cost of materials consumed |
|||||||||||
| (b) Purchases of stock-in-trade | ~~-~~ | |||||||||||
| (c) Changes in inventories of finishedgoods and work-in-process | 520.98 | (236.06) |
||||||||||
| (d) Employee Benefits Expenses | 358.72 | 349.25 |
||||||||||
| (e) Finance Costs | 27.U | 31.6 |
3 | 46.6 | 3 190.44 |
|||||||
| (f Depreciation and amortization expenses | 95.20 481.59 |
113.46 913.46 |
105.54 436.60 277.60 2,236.23 |
|||||||||
| (g)Other expenses | ||||||||||||
| Totalexpenses{IV) | 3,367.02 | 5,023.89 | 1,89.65 13,058.91 |
|||||||||
| V | Profit/ (Loss) before exceptional items and tax(Ill-IV) | (111.32) | 419.9 | (150.91) |
528.19 | |||||||
| V | I | Exceptional items | ~~-~~ | . | ~~-~~ | |||||||
| VI | I | Profit/ (Loss) Before Tax(V - VI) | **(111.32) ** | **419.9 ** |
(150.91) |
528.19 |
||||||
| VII | I | Tax expense : | 175.5 | |||||||||
| a.)Current Tax | 0.05 | 117.30 | ||||||||||
| b.)Deferred Tax Liability/ (Assets) | (28.63) | 4.50 | (14.54) | (14.91) |
||||||||
| c.)Adjustment of Tax for Earlier Years | (14.54) | 631 166.9 |
||||||||||
| Total Tax Expenses{VIII) | (28.58) 121.80 |
|||||||||||
| IX | Profit/ (Loss)for theperiod from continuingoperations(VII-VIII) | (82.74) 298.10 |
(136.37) | 361.29 |
||||||||
| X | Profit/ (Loss)from discontinuingoperations before Tax | ~~-~~ ~~-~~ |
~~-~~ . - . (136.37) 361.29 10.19 {1.78) |
|||||||||
| XI | Tax Expense of discontinuingoperations | ~~-~~ ~~-~~ |
||||||||||
| XI | I | Profit/ {Loss)from discontinuingoperations | ~~-~~ . (82.74) 298.10 |
|||||||||
| XII | I | Profit/ {Loss)for theperiod | ||||||||||
| XI | V | Other Comprehensive Income: i) Items that will not be reclassified toprofit or loss |
||||||||||
| a)Remeasurements of the defined benefitplans | (0.44) (32.34) |
|||||||||||
| b) Income tax relating to items that will not be reclassified to profit or loss | 0.11 8.16 |
(2.57) 0.46 |
||||||||||
| XI | Total comprehensive Income for theperiod{XIII+ XIV) | (83.07) 273.92 |
(128.75) 359.96 |
|||||||||
| XU | Profit/(Loss)attributable to: | |||||||||||
| • Owners of the company | (82.74) 298.10 |
(136.37) 361.29 |
||||||||||
| • Non-controllinginterests | ~~-~~ | ~~-~~ | ||||||||||
| XII | I | Other comprehensive Income attributable to: | ||||||||||
| • Owners of the company - Non-controllinginterests |
(0.33) (24.19) {83.07) 273.92 . |
7.62 (1.32) - |
||||||||||
| XI |
VTotal comprehensive income attributable to: • Owners of the company •Non-controlling interests |
(128.75) 359.96 - |
||||||||||
| ~~x ~~Paidupequityshare capital(face value of Rs. 10per share) XOterequity XIIEarings per share (of Rs. 10/- each)(for continuing operations) (not Bac Diluted Earnings per share (of Rs. 10/- each)(for discontinuedoperations) (not Basic Diluted Earnings per share (of Rs. 10/- each) (fordiscontinued & continuing Basic Diluted |
Paidupequityshare capital(face value of Rs. 10per share) | 1,567.20 1,567.20 |
1,567.20 1,567.20 |
|||||||||
| Oterequity | ~~-~~ . |
3,759.81 | ||||||||||
| (0.53) 1.90 |
(0.87) 2.31 |
|||||||||||
Diluted |
(0.53) 1.90 |
(0.87) 2.30 |
||||||||||
| Earnings per share (of Rs. 10/- each)(for discontinuedope Basic Diluted |
rations) (not | |||||||||||
| ~~-~~ | ||||||||||||
| ~~-~~ ~~-~~ (0.53) 1.90 |
~~-~~ (0.87) 2.31 |
|||||||||||
| Earnings per share (of Rs. 10/- each) (fordiscontinued & continuing Basic Diluted |
||||||||||||
| (0.53) 1.90 |
(0.87) 2.30 |
NOTES:-
1 The above consolidated financial results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company in their respective meetings held on August 12, 2021.
�'; ,,, · � m " : ����-:---__ ... :'o':A
ICE MAKE REFRIGERATION LIMITED AN ISO 9001 : 2015, ISO 14001 : 2015 & BS OHSAS 18001 : 2007 CERTIFIED COMPANY Commercial & Industrial Refrigeration Equipment Manufacturer
Registered Office/ Mailing Address:
Corporate Office/ Plant Address: Q B/1, Ground Floor, Vasupujya Chambers, Nr. Income Tax Cross Road, Ashram Road, Ahmedabad-380 014, Gujarat· India. � +91-79-27540630 �+91-79-27540620
� +91 9879107881 / 884 � + 91-79-27540620 rg) [email protected] � www.icemakeindia.com Q 226, Dantali Industrial Estate, Gola. Vadsar Road, Nr. Ahmedabad City, At: Dantali, Ta.: Kaloi, Dist.: Gandhinagar - 382721, Gujarat· India.
C.I.NO : L29220GJ2009PLC056482
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�ICE MAKE irt.tS t'a Coo(i"-" Par'tht'r
-
2 The statutory auditor have carried out "Limited Review" of the financial result foe the quarter ended June 30, 2021 as per regulation n of� SEBI (Listing Obligation and Oisdosure Requirements) Regulations, 2015.
-
3 The Company operates In a single segment and in line with Ind AS 108 - "Operating Segments", the operations of the Company fa under "Manufacturing of Cold Rooms, Freezer, Refrigeration System, Chilling Plants, etc_• whidl is considered to be the only reportable business segment
-
4 The consolidated audited financial results of the company are comprising of it's wholly owned subsidiary M/s. Bharat Refrigerations Private Limited.
-
5 The Parliament of India has approved the Code on Social Security, 2020 (the Code) which mav impact the contributions by the Company towards provident fund, gratuity and E5IC. The Ministry of Labour and Employment has released draft rules foe the Code on November 13, 2020. Final rules are yet to be notified. The Company will assess the impact of the Code when it comes into effect and will record related impact, if any.
-
6 Previous year figures have been regrouped/rearranged wherever necessary.
-
7 This statement has been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Indian AS) prescribed under Section 133 of the Companies Act, 2013 and rules amended from time to time.
8
The Company has assessed the probable impact of COVI0-19 pandemic. It has considered internal and external information available up to the date of approval of these financial results and expects that the carrying amounts of inventories, trade receivables and other assets are recoverable. However, the impact of COVI0-19, including the current wave, may be different from that estimated as at the approval of these financial results. The company will continue to monitor any material changes to future economic condition.
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For and on Behalf of Board of Directors, Ice Make Refrigeration Limited
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Chandrakant Patel Chairman & Managing Director DIN - 02441116
Date: August 12, 2021 Place: Gandhinagar
Chief Financial Officer
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ICE MAKE REFRIGERATION LIMITED
AN ISO 9001 : 2015, ISO 14001 : 2015 & BS OHSAS 18001 : 2007 CERTIFIED COMPANY Commercial & Industrial Refrigeration Equipment Manufacturer
Registered Office/ Mailing Address:
Q B/1, Ground Floor, Vasupujya Chambers, Nr. Income Tax Cross Road, Ashram Road, Ahmedabad-380 014, Gujarat - India. � + 91-79-27540630 di;+ 91-79-27540620 Corporate Office / Plant Address:
Q 226, Dantali Industrial Estate, Gola - Vadsar Road, Nr. Ahmedabad City, At: Dantali, Ta. : Kalal, Dist.: Gandhinagar - 382721, Gujarat - India. � +91 9879107881 / 884 e +91-79-27540620 � [email protected] � www.icemakeindia.com C.I.NO :
C.I.NO : L29220GJ2009PLC056482
UMESH SHAH & ASSOCIATES CHARTERED ACCOUNTANTS
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Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended.
To
The Board of Directors of ICE MAKE REFRIGERATION LIMITED
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-
We have reviewed the accompanying statement of unaudited consolidated financial results of Ice Make Refrigeration Limited ("the Parent")and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group")for the quarter ended June 30, 2021 , being submitted by the Company pursuant to the requirements ofRegulation33 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, as amended (''the Listing Regulations").
-
This Statement, which is the responsibility of the Parent's Management and approved by the Board of Directors of the Company, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section I 33 of the Companies Act, 20 I 3, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report 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 financial statements are 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.
We also performed procedures in accordance with the Circular No. CIR/CFD/CMDl/44/2019 dated March 29, 2019 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 include the results of the following entity: (a) M/s Bharat Refrigerations Private Limited.
-
Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports 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 Ind AS 34 prescribed under Section 133 of the Act 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.
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7-8, 4th Floor, Sneh Shrust1 Complex. Sambhav Printing Press Lane, Near Judges Bunglows, Bodakdev, Ahmedabad-380 015. Phone· 079 26872095 TeleFax: 079 40007747 E-mail' [email protected]
UMESH SHAH & ASSOCIATES CHARTERED ACCOUNTANTS
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- The consolidated unaudited financial results includes the interim financial information of 1 subsidiary which has not been reviewed by their auditors, whose interim financial information reflects total revenue of Rs.177.39 Lakhs for the quarter ended June 30, 2021, total loss after tax of Rs. 29.75 Lakhs for the quarter ended June 30, 2021 and total comprehensive loss of Rs. 29.93 Lakhs for the quarter ended June 30, 2021, as considered in the Statement. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.
Our conclusion on the Statement is not modified in respect of the above matter
For Umesh Shah & Associates Chartered Accountants (Firm's Registration No. 0114563W)
artner (Membership No. 048415) UDIN: - 21048415AAAAJR6861 Place: Ahmedabad Date: August 12, 2021
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7-8. 4th floor, Sneh ShrustI Complex. Sambhav Printing Press Lane. Near Judges Bunglows, Bodakdev. Ahmedabad-380 015. Phone· 079 26872095 Telefax: 079 40007747 E-mail• shahumeshca@gmail com