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JASH ENGINEERING LIMITED Regulatory Filings 2021
59194_rns_2021-07-21_c8537170-f1d3-4870-ad7e-dd7c13c27595.pdf
Regulatory Filings
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Unit-1: CAST PRODUCTS PLANT, 31, Sector 'C' Industrial Area, Sanwer Road, Indore-452 015 (M.P.) Phone: +91-731-2720143, 6732700
ENGINEERING LIPD
$\zeta_7$
21th July, 2021
The Manager Listing Department National Stock Exchange of India Limited Bandra Kurla Complex, Bandra (East) Mumbai - 400 051
Dear Sir/Ma'am,
Subject: Submission of Disclosure under Regulation 23(9) of SEBI (LODR) Regulations, 2015 regarding disclosure of Related Party Transaction for the year ended 31st March 2021
Symbol: JASH
Pursuant to Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, as amended from time to time, we are pleased to submit the disclosure of related party transactions consolidated basis for the year ended 31st March 2021.
Kindly take the aforementioned information on records.
Thanking You, Yours Faithfully, For JASH Engineering Limited EE Kharn Combativ Secretary & Compliance Officer $A - 30144$ Encl.: A/a
Regd. Office: 31, Sector 'C' Industrial Area, Sanwer Road, Indore - 452 015 (M.P.) India Phone: +91 731 2720143. Fax: +91 731 2720499, E-mail: [email protected], Website: www.jashindia.com CIN : L28910MP1973PLC001226, GSTIN: 23AAACJ7699F1ZC
Jash Engineering Limited
Summary of significant accounting policies and other explanatory information for the year ended 31 March, 2021 (All amount in INR lakhs unless stated otherwise)
Related party transactions Related Party Disclosures is as under:
Key management personnel $(i)$
Mr. Pratik Patel, Managing Director Mr. Axel Schutte, Director Mr. Suresh Patel, Executive Director Mr. Brij Mohan Maheshwari, Independent Director Mr. Sunil Kumar Choksi, Independent Director Mr. Vishwapati Trivedi, Independent Director Ms. Sunita Kishnani, Independent Director Mr. D. T. Manwani, Independent Director
Relatives of key managerial personnel with $(ii)$ whom there are transactions/balances during Mrs. Bhairavi Patel (wife of Mr. Pratik Patel) Mr. Harsh Patel (son of Mr. Pratik Patel) Mrs. Swati Desai (sister of Mr. Pratik Patel) Mr. Tarang Amin (brother-in law of Mr. Pratik Patel) Mrs. Tejal Desai (Daughter of Mr. Suresh Patel)
(iii) Entities in which key management personnel/director is having significant influence/interested with whom there are transactions/balances during the year
Patamin Investments Private Limited Jash Precision Tools Private Limited (till 31 December 2020) Micro Flat Datums Private Limited Jash Flowcon Engineers (a partnership firm)
Jash Engineering Limited Summary of significant accounting policies and other explanatory information for the year ended 31 March, 2021 (All amount in INR lakhs unless stated otherwise)
(v) Transactions with related parties during the year
| Particulars | Key management personnel andtheir relatives | Entities in which keymanagement personnel/directoris having significant influence/interested/entity havingsignificant influence over theCompany | Total | |||
|---|---|---|---|---|---|---|
| 31 March 2021 | 31 March 2020 | 31 March 2021 | 31 March 2020 | 31 March 2021 | 31 March 2020 | |
| Managerial remuneration | 114.32 | 122.05 | ٠ | ۰ | 114.32 | 122.05 |
| Pratik Patel | 77.25 | 67.84 | ٠ | $\blacksquare$ | 77.25 | 67.84 |
| L.D. Amin | 50.05 | $\blacksquare$ | $\blacksquare$ | 50.05 | ||
| Suresh Patel | 37.08 | 4.16 | $\overline{\phantom{a}}$ | $\qquad \qquad -$ | 37.08 | 4.16 |
| Sale of goods | ٠ | 287.45 | 266.37 | 287.45 | 266.37 | |
| Jash Precision Tools Private Limited | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 277.86 | 265.23 | 277.86 | 265.23 |
| Micro Flat Datums Private Limited | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 9.59 | 1.14 | 9.59 | 1.14 |
| Purchase of goods | $\qquad \qquad \blacksquare$ | $\blacksquare$ | 127.91 | 130.39 | 127.91 | 130.39 |
| Jash Precision Tools Private Limited | $\overline{\phantom{0}}$ | $\overline{\phantom{a}}$ | 1.16 | 5.15 | 1.16 | 5.15 |
| Jash Flowcon Engineers | $\qquad \qquad \blacksquare$ | $\blacksquare$ | 0.12 | 0.12 | ||
| Micro Flat Datums Private Limited | $\blacksquare$ | $\overline{\phantom{0}}$ | 126.63 | 125.24 | 126.63 | 125.24 |
| Job work charges and labour charges | ٠ | ٠ | 132.03 | 182.16 | 132.03 | 182.16 |
| Jash Precision Tools Private Limited | $\rightarrow$ | $\overline{\phantom{a}}$ | 30.33 | 61.65 | 30.33 | 61.65 |
| Jash Flowcon Engineers | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 101.48 | 120.32 | 101.48 | 120.32 |
| Micro Flat Datums Private Limited | $,$ | $\overline{\phantom{0}}$ | 0.21 | 0.19 | 0.21 | 0.19 |
| Dividend for the year (excluding dividenddistribution tax) | 33.58 | 140.32 | 3.63 | 12.09 | 37.21 | 152.41 |
Jash Engineering Limited
Summary of significant accounting policies and other explanatory information for the year ended 31 March, 2021 (All amount in INR lakhs unless stated otherwise)
| Particulars | Key management personnel andtheir relatives | Entities in which keymanagement personnel/directoris having significant influence/interested/entity havingsignificant influence over theCompany | Total | |||
|---|---|---|---|---|---|---|
| 31 March 2021 | 31 March 2020 | 31 March 2021 | 31 March 2020 | 31 March 2021 | 31 March 2020 | |
| Interest expense | 52.35 | 53.10 | 52.35 | 53.10 | ||
| Patamin Investments Private Limited | 52.35 | 53.10 | 52.35 | 53.10 | ||
| Lease payments | $\blacksquare$ | $\blacksquare$ | 60.00 | 60.00 | 60.00 | 60.00 |
| Patamin Investments Private Limited | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 60.00 | 60.00 | 60.00 | 60.00 |
| Purchase of capital goods | $\sim$ | $\overline{\phantom{a}}$ | 4.01 | $\overline{\phantom{a}}$ | 4.01 | $\overline{\phantom{a}}$ |
| Jash Flowcon Engineers | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 1.25 | 1.25 | ||
| Micro Flat Datum Private Limited | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 2.76 | 2.76 | ||
| Expenses incurred by Group on behalf ofrelated parties | $\qquad \qquad \blacksquare$ | 0.78 | $\qquad \qquad \blacksquare$ | 2.52 | ۰ | 3.30 |
| Jash Flowcon engineers | $\blacksquare$ | $\blacksquare$ | $\blacksquare$ | 1.09 | $\blacksquare$ | 1.09 |
| Jash Precision Tools Private Limited | $\blacksquare$ | $\blacksquare$ | 1.43 | $\ddot{ }$ | 1.43 | |
| Pratik Patel | $\blacksquare$ | 0.78 | $\overline{\phantom{a}}$ | $\blacksquare$ | $\blacksquare$ | 0.78 |
| Reimbursement of expenses | 4.67 | 8.75 | $\bullet$ | $\blacksquare$ | 4.67 | 8.75 |
| Pratik Patel | 4.67 | 8.75 | $\blacksquare$ | $\blacksquare$ | 4.67 | 8.75 |
| Sitting fees | 4.50 | 3.00 | $\blacksquare$ | $\bullet$ | 4.50 | 3.00 |
| Legal and professional | $\blacksquare$ | 3.66 | $\blacksquare$ | $\blacksquare$ | $\blacksquare$ | 3.66 |
| Suresh Patel | $\overline{\phantom{0}}$ | 3.66 | $\overline{\phantom{a}}$ | $\overline{a}$ | 3.66 | |
(v) Transactions with related parties during the year (Cont'd)
*Interest expense related to Patamin Investments Private Limited is the notional expense booked pursuant to the guidance of IND AS 116, Leases.
Jash Engineering Limited
Summary of significant accounting policies and other explanatory information for the year ended 31 March, 2021 (All amount in INR lakhs unless stated otherwise)
Related party transactions (continued)
(vi) Year end balances
| Particulars | Key management personnel andtheir relatives | Entities in which key managementpersonnel/director is having significantinfluence/ interested/ entity havingsignificant influence over the Company | Total | |||
|---|---|---|---|---|---|---|
| 31 March 2021 | 31 March 2020 | 31 March 2021 | 31 March 2020 | 31 March 2021 | 31 March 2020 | |
| Trade receivables | $\blacksquare$ | $\blacksquare$ | 4.40 | 367.48 | 4.40 | 367.48 |
| Jash Precision Tools Private Limited | ٠ | $\overline{\phantom{a}}$ | 301.58 | 301.58 | ||
| Micro Flat Datums Private Limited | $\overline{\phantom{a}}$ | $\sim$ | 4.40 | 65.90 | 4.40 | 65.90 |
| Trade payables | ٠ | $\qquad \qquad \blacksquare$ | 81.69 | 91.26 | 81.69 | 91.26 |
| Micro Flat Datums Private Limited | $\blacksquare$ | $\sim$ | 44.99 | 50.09 | 44.99 | 50.09 |
| Jash Flowcon Engineers | - | $\overline{\phantom{0}}$ | 36.70 | 41.17 | 36.70 | 41.17 |
| Lease liability | $\blacksquare$ | $\overline{\phantom{a}}$ | 500.27 | 507.92 | 500.27 | 507.92 |
| Patamin Investments Private Limited | 500.27 | 507.92 | 500.27 | 507.92 | ||
| Security deposits* | $\blacksquare$ | $\blacksquare$ | 37.50 | 37.50 | 37.50 | 37.50 |
| Patamin Investments Private Limited | 37.50 | 37.50 | 37.50 | 37.50 | ||
| Remuneration payable | 2.74 | 1.39 | $\blacksquare$ | $\overline{\phantom{a}}$ | 2.74 | 1.39 |
| Pratik Patel | 1.16 | 0.51 | $\qquad \qquad \blacksquare$ | $\overline{\phantom{a}}$ | 1.16 | 0.51 |
| Suresh Patel | 1.58 | 0.88 | ٠ | $\overline{\phantom{a}}$ | 1.58 | 0.88 |
| advancepayable.(recoverable)Tourby/from | $\blacksquare$ | (1.49) | $\blacksquare$ | $\blacksquare$ | $\blacksquare$ | (1.49) |
| Pratik Patel | $\overline{\phantom{a}}$ | (1.09) | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | $\blacksquare$ | (1.09) |
| L. D. Amin | $\blacksquare$ | (0.40) | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | $\overline{\phantom{0}}$ | (0.40) |
*The above amount of security deposit is the notional amount as per agreement. However, the same has been carried forward at amortised cost.
