Jay Bharat Maruti Ltd. — Interim / Quarterly Report 2022

Jul 27, 2021

Corporate Office : 9 Plot No. 9, Institutional Area, © Sector 44, Gurgaon-122 003 (Hr.) Our milestones are touchstones T : +91 124 4674500, 4674550 F : +91 124 4674599 W : www.jbmgroup.com

Ref. No.: JBML/SE/Q2/21-22 Dated: 27.07.2021

Phiroze Jeejeebhoy Towers, Exchange Plaza, 5" Floor, Dalal Street, Plot No. C/1, G Block,

BSE Limited The National Stock Exchange of India Limited Mumbai-406001 Bandra Kurla Complex, Bandra (E) Mumbai- 400051

Scrip Code: 520066 NSE SYMBOL: JAYBARMARU

Sub: Outcome of the Board of Directors meeting held today, 27" July, 2021 as per Regulation 33 of the SEBI (Listing Obligations & Disclosures Requirements) Regulations, 2015

Dear Sir,

We wish to inform you that the Board of Directors of the Company had considered and approved inter-alia the following matters in its meeting held today i.e., 27 July, 2021 commenced at 11:30 AM and concluded at & 45 PM:-

1. Approval of Unaudited Financial results for the 15t Quarter ended 30" June, 2021.

• The Board has approved the Unaudited Financial results (Standalone & Consolidated) for the 1st Quarter ended 30% June, 2021 (F.Y. 2021-22) along with the Limited Review Report of the Auditors. The said results have been reviewed by the audit Committee and approved by the Board of Directors of the Company.

You are requested to please take the same in your record.

Thanking you,

Yours truly,

For Jay Bharat Maruti Limited

(Ravi Arora) Company Secretary Encl. As above

Works:

Plant |: Plot No. 5, MSIL, Joint Venture Complex, Gurgaon-122 015 (Haryana) T:. +91 124 4887200, F: +91 124 4887300 Plant Il : Village & Post - Mohammadpur Narsinghpur, Sector 36, Gurgaon - 122 001 (Haryana) T: +91 124 4935300, F: +91 124 4935332 Plant Ill: Plot No. 15-16 & 21-22, Sector 3A, Maruti Supplier Park, IMT Manesar, Gurgaon -122 051 (Haryana) T: +91 9999190423, 9899079952 Plant IV : Plot No. 322, Sector - 3, Phase-ll, GWC, Bawal - 123 501 (Haryana) T +91 8221004201, 8221004203 Regd. Office : 601, Hemkunt Chambers, 89, Nehra Place, New Delhi - 110 019 T : +91 11 26427104-06. F : +91 11 26427100 CIN : L29130DL1987PLC027342

JAY BHARAT MARUTI LIMITED Regd. Office: 601, Hemkunt Chambers, 89, Nehru Place, New Delhi-110019 Phone No.011-26427104; Fax 011-26427100 Website : www.jbmgroup.com CIN -L29130DL1987PLC027342

BHARATMARUTILIMITEDJAYRegd. Office: 601, Hemkunt Chambers,JBM@89, Nehru Place, New Delhi-110019Phone No.011-26427104; Fax 011-26427100www.jbmgroup.comWebsiteOur milestones are touchstones:CIN -L29130DL1987PLC027342
	STATEMENT OF UNAUDITED STANDALONE & CONSOLIDATED FINANCIAL RESULTS FOR QUARTER ENDED 30th JUNE 2021S.No. __ Particulars	STANDALONEYearThree MonthsEndedEnded			{Rs. In Lakhs)CONSOLIDATEDThree MonthsYearEndedEnded
		30-Jun-21Unaudited	31-Mar-21Audited	30-Jun-20Unaudited	31-Mar-21Audited	30-Jun-21Unaudited	31-Mar-21Audited	30-Jun-20Unaudited	31-Mar-21Audited
124	Revenue from Operations_ Other income3__ Total Income {1+2)Expensesa) Cost of materials consumed	41,154.759.8241,164.5732,447.69	54,097.9158.1154,156.0241,221.92	7,022.2954.947,077.234,643.05	149,906.79453.44150,360.23114,727.09	41,154.759.8241,164.5732,447.69	54,097.9158.1154,156.0241,221.92	7,022.2954.947,077.234,643.05	149,906.79453.44150,360.23114,727.09
	b) Changes in Inventory of finished goods and Work-in-Progressc) Employee benefits expensed) Finance costse) Depreciation and amortisation expensef) Other expenses	(745.95)3,801.74808.771,838.142,576.93	(325.10)4,334.59778.951,963.713,048.97	683.641,990.59805.561,383.63725.56	(1,418.18)13,596.303,295.896,594.309,410.53	(745.95)3,801.74808.771,838.142,576.93	(325.10)4,334.59778.951,963.713,048.97	683.641,990.59805.561,383.63725.56	(1,418.18)13,596.303,295.896,594.309,410.53
56	Total expensesProfit before share of Joint Venture and tax (3-4)Add : Share of Profit/(Loss) of Joint Venture	40,727.32437.25	51,023.043,132.98	10,232.03(3,154.80)	146,205.934,154.30	40,727.32437.2511.48	51,023.043,132.9832.70	10,232.03(3,154.80)(58.08)	146,205.934,154.3026.69
7	Profit Before Tax (5+6)Tax ExpenseCurrent Tax	437.2590.78	3,132.98550.52	(3,154.80)-	4,154.30721.31	448.7390.78	3,165.68550.52	(3,212.88)-	4,180.99721.31
8910	Deferred TaxEarlier Years_ Total Tax ExpenseProfit after Tax for the Period (7-8)[Other Comprehensive Income	50.41:141.19296.06	533.8253.141,137.481,995.50	(1,093.78):{1,093.78){2,061.02)	773.5753.141,548.022,606.28	53.29:144.07304.66	544.9053.141,148.562,017.12	(1,108.46):{1,108.46){2,104.42)	783.2153.141,557.662,623.33
	{i) Items that will not be reclassified subsequently to profit or Loss- Remeasurement of the net defined benefit liability-_Income Tax effect- Fair value changes on Investment	87.34(30.52)113.67	14.66(5.12)(80.67)	11.95(4.18)197.17	(5.84)2.04327.39	87.17(30.48)113.67	13.98(4.95)(80.67)	11.95(4.18)197.17	(6.53)2.21327.39
	{ii) Items that will be reclassified subsequently to profit or LossTotal Comprehensive Income for the period (Net of Tax)	-170.49	-{71.13)	-204.96	-323.59	-170.36	-(71.64)	-204.96	-323.07
	11__ Total Comprehensive Income for the periodProfit for the period attributable toOwners of the Company	466.55	1,924.37	{1,856.06)	2,929.87	475.02304.66	1,945.482,017.12	{1,899.46)(2,104.42)	2,946.40
						-	-	-
	Non Controlling InterestOther Comprehensive Income for the period attributable to								2,623.33-
	Owners of the CompanyNon Controlling Interest					170.36-	{71.64)-	204.96-	323.07-
	Total Comprehensive Income for the period attributable toOwners of the CompanyNon Controlling Interest					475.02-	1,945.48-	(1,899.46)-	2,946.40-
1213	Paid up equity share capital (Face value of share Rs. 5/- each) Other Equity	2,165.00	1,082.50	1,082.50	1,082.5043,884.59	2,165.00	1,082.50	1,082.50	1,082.5043,909.76
14	Earning per Share (of Rs. 5/- each) (not annualised) (Refer Note 7)a) Basicb) Diluted	0.680.68	4614.61	(4.76)(4.76)	6.026.02	0.700.70	4.664.66	(4.86)(4.86)	6.066.06

Notes:

• 1 The above financial statements are prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under section 133 of the Companies Act, 2013 read with the Rule 3 of the Companies ( Indian Accounting Standards) Rules,2015 and Companies { Indian Accounting Standards) Amendment Rules,2016.
• 2 The above financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 27th July, 2021. The limited review as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 has been completed by the Statutory Auditors for the quarter ended June 30, 2021 and they have expressed an unmodified opinion on the aforesaid results.
• 3 The Company primarily operates in single segment i.e. manufacturing of components for Automobiles in India. Hence,no separate segment disclosures as per Ind AS 108 "Operating Segments" have been presented.
• 4 The figures for the corresponding previous period / year have been regrouped / rearranged wherever considered necessary to make them comparable.The figures for the quarter ended 31st March 2021 are balancing figures! between the audited figures in respect of full financial year and reviewed year to date figures upto the third quarter of that financial year,
• 5 The Company has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amount of property , plant and equipment , Investments , Inventories , receivables and other current assets. In developing the assumptions relating to the possible future uncertainities in the global economic conditions because of this pandemic , the Company , as at the date of approval of these financial results has used internal and external sources on the expected future performance of the Company . The Company has performed sensitivity analysis on the assumptions used and based on current estimates expects the carrying amount of these assets! will be recovered. The impact of COVID-19 on the Company's financial results may differ from that estimated as at the date of approval of these financial statements.
  • 6 The Company's operations and financial results for the quarter ended June 30 , 2021 have been adversely impacted by the outbreak of COVID-19 pandemic due to which the operations were suspended for part of the May Month and gradually resumed with requisite precautions. The results for the quarter are, therefore, not comparable with those for the previous quarters.
  • 7 In Terms of resolution passed by the shareholders of the Company at the Extra Ordinary General Meeting held on 31st May ,2021, the Company has issued bonus equity shares of Rs 5/- each which have been allotted on the date of allotment i.e. 10th June 2021, in the ratio of 1:1 . Consequently the earning per share has been re-stated for all the periods presented based on the number of equity shares post bonus issue in accordance with IND AS 33 on" Eamings Per Share ".
  • 8 The Consolidated financial results include the results of the Company and 1 Joint Venture .

Dated :- 27th July, 2021

By Order of the Board

Place :- New Delhi FOR JAY BHARAT MARUTI LIMITED

SURENDRA KUMAR ARYA Digitally signed by SURENDRA KUMAR ARYA Date: 2021.07.27 14:43:11 +05'30'

S. K. ARYA CHAIRMAN & MANAGING DIRECTOR

Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors Jay Bharat Maruti Limited

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Jay Bharat Maruti Limited ("the Company") and its share of net profit after tax and total comprehensive income of its Joint Venture for the quarter ended June 30, 2021 ("the Statement") being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations, 2015") (as amended).
• . 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 Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 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 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 following entity:
  • JBM Ogihara Die Tech Private Limited- Joint Venture
• . Based on our review conducted and procedures performed 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 aforesai i

409, 4th Floor, MGF Metropolis Mall, MG Road, Gurugram - 122022 Tel.: 0124-4015159

20Bansilal Mansion, 2nd Floor, 11 Homi Modi Street, Fort, Mumbai-400023 Tel.: 022-66391572 / 73 Email: snbmumbai@snbindia.com E-105, Sunrise Chambers, 22 Ulsoor Road, Bengaluru-560042 Tel.: 080-25586836 / 267 Email: snbbangalore@snbindia.com

information required to be disclosed in terms of Regulation 33 of the SEB! (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 Sahni Natarajan and Bahl

UDIN: 21083762AAAACW2468

Place: New Delhi Date: July 27, 2021

Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors Jay Bharat Maruti Limited

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Jay Bharat Maruti Limited ("the Company") for the quarter ended June 30, 2021 ("the Statement") being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations, 2015") (as amended).
• 1. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) as prescribed under section 133 of the Companies Act, 2013 read with the relevant Rules issued thereunder and other accounting principles generally accepted in India is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to issue a report on the Statement based on our review. '
• 1. 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 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.
• 1. Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement of Standalone Unaudited Financial Results, prepared in accordance with the recognition and measurement principle laid down in the aforesaid Indian Accounting Standard and other recognized accounting practices and policies generally accepted in India; has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 (as amended) including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Sahni Natarajan and Bahl

Membership No. 083762 UDIN: 21083762AAAACV9438

Place: New Delhi Date: July 27, 2021

409, 4th Floor, MGF Metropolis Mall, MG Road, Gurugram — 122022 Tel.: 0124-4015159

20 Bansilal Mansion, 2nd Floor, 11 Homi Modi Street, Fort, Mumbai-400023 Tel.: 022-66391572 / 73 Email: snbmumbai@snbindia.com E-105, Sunrise Chambers, 22 Ulsoor Road, Bengaluru-560042 Tel.: 080-25586836 / 267 Email: snbbangalore@snbindia.com