J. Kumar Infraprojects Limited — Annual Report 2019

May 29, 2019

We dream ... So we achieve..

Regd. Off.: 16-A, Andheri Industrial Estate, Veera Desai Road, Andheri (W), Mumbai - 400053. INDIA Ph.: +91-22-6774 3555. Fax+91-22-2673 0814. E-mail: info@jkumar.com Website: www.jkumar.com CIN No.: L74210MH1999PLC122886

J. Kumar Infraprojects L

29th May, 2019

The General Manager Department of Corporate Services Bombay Stock Exchange Ltd Mumbai Samachar Marg Mumbai - 400 001 Fax: 2272 2037 / 39 /41/61

The Listing Department National Stock Exchange of India Ltd Exchange Plaza, Plot No.C/1, G- Block Bandra- Kurla Complex, Bandra East Mumbai-400 051 Fax No.26598237/8238

Scrip Code: JKIL/532940

Sub: Outcome of the Meeting of the Board of Directors of the Company held on Wednesday 29th May, 2019 at the Registered Office situated at 16-A, Andheri Industrial Estate, Veeradesai Road, Andheri (w), Mumbai.

Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors at their meeting held on Wednesday, 29th May 2019, has approved the following:

• The Audited Standalone Financial Statements for the 4th quarter and Financial a) Year ended 31st March, 2019.
• The Audited Standalone Financial Results of the Company for the Financial Year $b)$ ended 31st March 2019 along with Statement of Assets and Liabilities as on that dated. Enclosed is:
  • a. A copy of the said Financial Results along with the Auditors' Report thereon.
  • $h$ Declaration on unmodified opinion on the Audited Standalone and Financial Results of the Company.
• c) Directors recommended dividend of Rs 2.25/- per equity share (i.e. 45% on the Face value of Rs 5/- per Equity Share) for the financial year 2018-2019, which is subject to the approval of the shareholders at the ensuing Annual General Meeting of the company.

The meeting of the Board of Directors of the Company commenced at 1.30 P.M and concluded at 4.45 P.M

You are requested to kindly take a note of the above.

Thanking you, Yours faithfully

For J. Kumar Infraprojects Ltd

Sounimo Poornima Reddy Company Secretary

J. Kumar

ISO 9001:2015 ISO 14001:2015 OHSAS 18001:2007

	2019, STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH
Rs. in Lakh (except per share data)
Sr.No.	Particulars	Quarter Ended			Year Ended
		31/03/2019	31/12/2018	31/03/2018	31/03/2019	31/03/2018
		Audited	Unaudited	Audited	Audited	Audited
	Revenue From Operation	96,799.04	68,599.66	77,587.37	278,709.09	205,071.89
$\mathbf{H}$	Other Income	962.27	304.93	963.63	2,811.91	2,853.14
Ш	Total Income (I+II)	97,761.32	68,904.60	78,551.00	281,521.01	207,925.03
1V	Expenses
	(a) Cost of Material Consumed and Operating Expenses	59,322.23	43,397.52	49,481.06	175,127.56	130,040.95
	(b) Change in Inventory of Work in Progress	3,854.84	(3,941.67)	(1,669.40)	(3,094.52)	(9, 166.40)
	(c) Employee benefits expenses	6,345.45	7,736.22	6,113.64	24,770.55	19,708.43
	(d) Finance Cost	3,076.87	2,071.45	2,109.86	9,390.41	7,033.77
	(e) Depreciation and Amortisation	2,540.68	2,633.38	2,182.98	10,221.97	7,273.57
	(f) Other Expenses	13,871.25	10,274.47	11,916.10	38,275.64	32,368.14
	Total Expenses (IV)	89,011.32	62,171.37	70,134.23	254,691.61	187,258.46
$\vee$	Profit before exceptional items and tax (III-IV)	8,749.99	6,733.23	8,416.77	26,829.39	20,666.57
-VI	Exceptional Items
VII	Profit/(Loss) before Tax (V-VI)	8,749.99	6,733.23	8,416.77	26,829.39	20,666.57
VIII	Tax Expenses
	Current tax (including earlier year tax)	2,614.05	2,207.67	2,372.32	8,345.98	5,969.34
	Deferred tax	404.32	108.19	566.96	776.71	1,042.08
IX.	Total Tax Expenses	3,018.37	2,315.86	2,939.28	9,122.69	7,011.42
X	Net Profit after tax	5,731.62	4,417.37	5,477.49	17,706.70	13,655.15
XI	OTHER COMPREHENSIVE INCOME
	Other Comprehensive income not to be reclassified to profit and loss
	in subsequent periods
	Remeasurement of gains (losses) on defined benefit plans	(158.43)	48.02	(5.16)	(14.39)	(49.40)
	Income tax effects	55.36	(16.80)	1.78	4.96	17.09
	Other Comprehensive income for the year, net of tax	(103.07)	31.22	(3.37)	(9.43)	(32.30)
XII	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD, NET OF TAX	5,628.54	4,448.59	5,474.12	17,697.26	13,622.85
XIII	Paid up Share Capital	3,783.28	3,783.28	3,783.28	3,783.28	3,783.28
XIV	Earning Per Share
	(a) Basic	7.57	5.84	7.24	23.40	18.05
	(b) Diluted	7.57	5.84	7.24	23.40	18.05
						ΙŽ

1. The financial results for the quarter and year ended 31st March, 2019 have been reviewed by the Audit Committee of the Board and subsequently approved by the Board of Directors at its meeting held on Wednesday 29th May, 2019 in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Statutory Auditors of the company have carried out a audit of the results for the quarter and year ended 31st March, 2019.

2. The above is an extract of the detailed format of Quarter and year ended Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI(Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarter and year ended Financial Results are available on the Stock exchange website viz. www.bseindia.com and www.nseindia.com. The same is also available on the Company website viz www.jkumar.com.

3. The Board of Directors of the Company has recommended a dividend @ 45% (Rs. 2.25/- per equity share) on the face value Rs. 5/- each (Fully paid up).

4. The "management approach" as defined in "Ind AS 108 - Operating Segments", requires disclosure of segment-wise information based on the manner in which the Chief Operating Decision Maker (CODM) evaluates the performance and allocates resources in cases where a reporting entity operated in more than one business segment. Since the company is primarily engaged only in the business of "Construction and Engineering Activities" which the Management and CODM recognise as the sole business segment, hence there are no other reportable segments.

5. The Statutory Auditors have provided un-modified opinion on the Quaterly and Annual Audited Financial Results to the Company for the period ended on March 31, 2019.

6. The Figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.

7. The figures for the previous period have been regrouped and /or rearranged wherever considered necessary.

By Order of the Board For J. Kumar Infragrojects Limited

Date: May 29, 2019 Place: Mumbai

Jagdishkumar M. Gupta Executive Chairman DIN No.:01112887

NOTES:-

J. KUMAR INFRAPROJECTS LIMITED

CIN No.: L74210MH1999PLC122886

Reg. Office: 16-A, Andheri Industrial Estate, Veera Desai Road, Andheri (W), Mumbai - 400 053

Tel: 022-67743555, Fax 022-26730814, Email-info@jkumar.com, Website: www.jkumar.com

STANDALONE AUDITED BALANCE SHEET

		(Amount in INR Lakhs)
Particulars	March 31, 2019	March 31, 2018
ASSETS
Non-Current Assets
(a) Property, Plant and Equipment	77,881.69	71,609.76
(b) Capital Work-in-Progress	7,979.42	12,617.53
(c) Financial Assets
(i) Investments	3,158.02	1,503.58
(ii) Other Financial Assets	30,535.15	24,306.02
(d) Intangible Assets Under Development	3,036.84	2,864.05
(e) Financial Assets	122,591.11	112,900.95
Current assets
(a) Inventories	91,867.63	81,427.49
(b) Financial Assets
(i) Trade Receivables	49,860.42	52,877.31
(ii) Cash and Cash Equivalents	7,041.00	9,748.60
(iii) Bank Balances Other than (ii) above	40,087.52	41,307.68
(iv) Loans	1,058.76	1,599.15
(v) Other Financial Assets	10,636.05	9,656.26
(c) Other Current Assets	26,593.73	26,637.48
	227,145.11	223,253.96
TOTAL	349,736.23	336,154.91
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital	3,783.28	3,783.28
(b) Other Equity	162,966.67	147,093.82
	166,749.95	150,877.10
Liabilities
Non Current Liabilities
(a) Financial Liabilities
Borrowings	14,067.41	11,339.94
(b) Provisions	40.50
(c) Deferred Tax liabilities (Net)	3,658.57	2,886.81
Current Liabilities	17,766.48	14,226.75
(a) Financial Liabilities
(i) Borrowings	46,249.99	36,508.54
(ii) Trade Payables
Micro, Small and Medium
Others	30,287.53	32,916.20
(iii) Other Financial Liabilities	33,882.94	27,468.70
(b) Other Current Liabilities	53,222.28	73,719.56
(c) Current Tax Liabilities (Net)	1,577.05	438.06
	165,219.80	171,051.06
TOTAL	349.736.23	336.154.91

By Order of the Board For J. Kumar Infraprojects Limited

GPROVA $\checkmark$ MUMBA $\Omega^{\prime}$ Jagdishkumar M. Gupta

V. $\langle \rangle$

Executive Chairman DIN No.:01112887

Place: Mumbai Date: May 29, 2019

We dream ... So we achieve...

Regd. Off.: 16-A, Andheri Industrial Estate, Veera Desai Road, Andheri (W), Mumbai - 400053. INDIA Ph.: +91-22-6774 3555. Fax+91-22-2673 0814. E-mail: info@jkumar.com Website: www.jkumar.com CIN No.: L74210MH1999PLC122886

29th May, 2019

The General Manager Department of Corporate Services Bombay Stock Exchange Ltd Mumbai Samachar Marq Mumbai - 400 001 Fax: 2272 2037 / 39 / 41/61

The Listing Department National Stock Exchange of India Ltd Exchange Plaza, Plot No.C/1, G- Block Bandra- Kurla Complex, Bandra East Mumbai-400 051 Fax No.26598237/8238

Scrip Code: JKIL/532940

Dear Sir/Madam,

Sub: Declaration pursuant to Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In terms of the provisions of Regulation 33(3)(d) of the Listing Regulations, we hereby declare M/s Todi Tulsyan & Co., Chartered Accountants, Statutory Auditor of the Company, have issued an Audit Report with Unmodified Opinion on the Audited Standalone Financial Results of the Company for the quarter and financial year ended on March 31, 2019.

The above is for your information and records.

Thanking you, Yours faithfully

For J. Kumar Infraprojects Ltd $PP_{0}$ mumba Kuntal Lohiya Afvind Gupta AVP - Accounts & Finance Chief Financial Officer

Todi Tulsyan & Co.

Chartered Accountants

201/202, B-Wing Extn., 2nd Floor, Rolex Shopping Centre, Station Road, Goregaon (W), Mumbai - 400 104. Telefax: 022 - 6755 6030 / 2873 7979, Mob.: 93233 44556, Email: ttcomumbai@gmail.com GSTIN: 27AACFT0522C1ZS

INDEPENDENT AUDITOR'S REPORT

To The Board of Directors of J. Kumar Infraprojects Limited.

• 1. We have audited the accompanying statement of standalone financial results of J. Infraprojects Limited ('the company'), which includes 19 Joint Operations on Kumar a proportionate basis, for the year ended March 31,2019(the "Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Regulation"), as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.
• 1. This statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been compiled from the related standalone financial statements which has been prepared in accordance with the Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder ("Ind AS") and other accounting principles generally accepted in India. Our responsibility is to express an opinion on the Statement based on out audit of such standalone financial statements.
• 1. We concluded our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement.

We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in the paragraph 5 below, is sufficient and appropriate to provide a basis for our audit opinion.

• 1. In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports received from the other auditors on the financial information of joint operations as referred in paragraph 5 below, the Statement:
  • i. includes the results of entities as provided by the Management given in Annexure- 1 to the report.
  • ii. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations ad Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016: and
  • iii. gives a true and fair view of the total comprehensive income (comprising of net loss and other comprehensive income) and other financial information for the quarter and year ended March 31, 2019.
• 1. We did not audit the financial information of 19 Joint operations included in the statement whose financial information reflect total assets of Rs. 1,24,796.49 Lakh as at March 31, 2019, total revenues of Rs. 2,15,411.59 Lakh, total profits after tax (net) of Rs. 1,866.74 Lakh and total comprehensive income (Net) of Rs. Nil for the year ended on that date, as considered in the statement. The financial information of these joint operations have been audited by the other auditors whose reports has been furnished to us by the management, and our opinion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the report of such other auditors.

Our opinion on the Statement is not modified in respect of this matter with respect to our reliance on the work done and reports of such other auditors.

1. The Statements also includes financial information of 13 Joint operations which have not been audited by their auditors, whose financial information reflect total assets of Rs. 12,930.79 Lakh as at March 31, 2019, total revenues of Rs. 6,873.44 Lakh, total profits after tax (net) of Rs. 140.96 Lakh and total comprehensive income (Net) of Rs. Nil for the year ended on that date, as considered in the statement. The financial information of these joint operations have been unaudited and has been furnished to us by the

Management and our opinion on the Statement, in so far it related to the amounts and disclosures included in respect of these joint operations, is based solely on such unaudited financial information which is certified by management. In our opinion and according to the information and explanation given to us by the Management, the financial information of these joint operations are not material to the Company.

1. The Statement includes the results for the quarter ended March 31, 2019 being the balancing figure between audited figures in respect of the full financial year and the year to date figures up to the third quarter of the current financial year which were subjected to the limited review by us.

For Todi Tulsyan & Co. Chartered Accountants Firm Reg. No.:002180C

sitip Kronde

Dilip Kumar Partner M. No. 054575

Place: Mumbai Date: 29/05/2019

nisya Mumba ERN 002180

Annexure-1

$\hat{\mathbf{t}}$

Joint Operations

The Company's share of interest in joint operations as at March 31, 2019 and March 31, 2018 is set out below. The principal place of business of all these joint operations is in India.

	Principal	% of Ownership interest
Name	activities	March 31,	March 31,
		2019	2018
J. Kumar - Mukesh Brothers J.V.	Construction	60.00%	60.00%
J. Kumar Infraprojects Limited & Chirag	Construction	55.00%	55.00%
Construction Co. (J.V.)
J. Kumar - Chirag - Babulal	Construction	51.00%	51.00%
(Consortium)
J. Kumar - Chirag - Navdeep	Construction	51.00%	51.00%
(Consortium)
J. Kumar - Chirag - API (Consortium)	Construction	51.00%	51.00%
J. Kumar - Chirag - JEKIN	Construction	51.00%	51.00%
(Consortium)
J. Kumar - RPS J.V.	Construction	51,00%	51.00%
NCC - J. Kumar J.V.	Construction	50.00%	50.00%
Ameya J. Kumar Construction (J.V.)	Construction	50.00%	50.00%
Shiva Engineering Const. & J. Kumar	Construction	50.00%	50.00%
J.V.
J. Kumar R.K. Indra (Consortium)	Construction	50.00%	50.00%
J. Kumar - K.R. J.V.	Construction	51.00%	51.00%
Supreme - J. Kumar J.V.	Construction	49.00%	49.00%
J. Kumar - J.M. Mhatre J.V.	Construction	65.00%	65.00%
NCC - J. Kumar - SMC J.V.	Construction	35.00%	35.00%
J. Kumar - Speco J.V.	Construction	51.00%	51.00%
J. Kumar - Supreme JV	Construction	60.00%	60.00%
J. Kumar - CRTG J.V. *	Construction	74.00%	74.00%
J. Kumar - PBA *	Construction	50.00%	50.00%

* As per the revised understanding between partner's the profit from subsidiaries are distributed in following ratio

Name of JO's	$\blacksquare$ March 31,	$\parallel$ March 31,
J. Kumar - CRTG J.V. *	99.99%	99.99%
J. Kumar - PBA *	97.50%	97.50%