JUPITER WAGONS LIMITED — Interim / Quarterly Report 2022

Aug 14, 2021

Commercial Engineers & Body Builders Co. Limited CIN-L28100MP1979PLC049375

Regd. / Corp. Office : 48, Vandana Vihar, Narmada Road, Gorakhpur, Jabalpur (M.P.) INDIA Email Id – cs@cebbco.com, Website – www.cebbco.com

14.08.2021

To,

The Secretary, BSE Limited, 25th Floor, P J Towers, Dalal Street, MUMBAI – 400 001 Fax No.022 2272 2039/022 2272 2041

The Secretary National Stock Exchange of India Ltd Exchange Plaza, 5th Floor, Plot No C/1 G Block, Bandra Kurla Complex, Bandra (East) Mumbai - 400 051 Fax No. 022-2659 8237/38, 66418124/25/26

Dear Sir/ Madam,

Sub: Outcome of the meeting of the board of directors held on 14 August 2021

Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time ("Listing Regulations") read with SEBI circular dated September 09, 2015, bearing reference no. CIR/ CFD/ CMD/ 4/ 2015 ("Disclosure Circular").

In furtherance to our intimation dated 07th August 2021, it is hereby informed that the board of directors ("Board") of Commercial Engineers & Body Builders Co Limited ("Company") in its meeting held on 14 August 2021 have approved:

• 1. The Un-Audited Standalone Financial Results for the Quarter ended 30th June 2021 of the Company under IND AS ("the Statement"), which have been approved and taken on record at meeting of the Board of Directors of the Company held today.
• 1. Limited Review Report issued by M/s Walker Chandiok & Co. LLP, Statutory Auditors of the Company on the Un-Audited standalone financial results for the Quarter ended 30th June 2021 is also enclosed.
• 1. Approval of the contents / items contained in the Draft AGM Notice & issuance of notice (including explanatory statement) for Convening 41st Annual General Meeting of the Company through Audio Visual Means (OAVM) and Annual Report and Auditors Report there on for the F.Y. 2020-2021
• 1. Board considered and approved Appointment of M/s K DAS & Associates, Cost Accountants, Kolkata (W.B.) as Cost Auditor of the Company for the F.Y. 2020-21.
• 1. The Meeting started at 04.00 p.m. and concluded at 05: 59 p.m.

Commercial Engineers & Body Builders Co. Limited CIN-L28100MP1979PLC049375

Regd. / Corp. Office : 48, Vandana Vihar, Narmada Road, Gorakhpur, Jabalpur (M.P.) INDIA Email Id – cs@cebbco.com, Website – www.cebbco.com

A copy of the results, Limited Review Report and profile of the cost auditor is enclosed herewith.

The results are also being made available on the website of the Company at www.cebbco.com.

You are requested to take the above information on record and disseminate the same for the information of the stakeholders.

Thanking You

Yours Faithfully

For Commercial Engineers & Body Builders Co Limited

Encl as above

Factory (Unit I) : 21,22,33,34, Industrial Area Richhai, Jabalpur - 482010 M.P., Factory (Unit II) : NH12-A, Village Udaipura, Teh. Niwas, Distt. Mandla - 481661 M.P., Factory (Unit III) : Plot No. 690 to 693 & 751 to 756, Sector III, Industrial Area, Pithampur, Distt. Dhar, Factory (Unit IV) : Industrial Area Richhai, Jabalpur - 482010 M.P. Factory (Unit V) : Plot No. 742, Asangi Phase Area, Saraikela, Jharkhand - 932109 Factory (Unit VI) : Village Imlai, Near Deori Railway Station, P.O. Panagar, Jabalpur - 483220

Walker Chandiok Co LLP

Walker Chandiok & Co LLP 7th Floor, Block III, White House, Kundan Bagh, Begumpet, Hyderabad 500 016, India

T +91 40 6630 8200 F +91 40 6630 8230

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

To the Board of Directors of Commercial Engineers and Body Builders Co Limited

• 1. We have reviewed the accompanying statement of unaudited financial results ('the Statement') of Commercial Engineers and Body Builders Co Limited ('the Company') for the quarter ended 30 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.
• 1. The 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 ('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) Regulations, 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.
• 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. 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.
• 1. 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, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements 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.

Walker Chandiok&£o LLP

1. The review of unaudited quarterly financial results for the period ended 30 June 2020, included in the Statement was carried out and reported by B S R & Co. LLP, Chartered Accountants, who have expressed unmodified conclusion vide their review report dated 10 September 2020, whose review report has been furnished to us and which have been relied upon by us for the purpose of our review of the Statement. Our conclusion is not modified in respect of this matter.

For Walker Chandiok & Co LLP

Chartered Accountants Firm Registration No: 001076N/N500013

Nikhil Vaid Partner Membership No. 213356 UDIN: 21213356AAAAEA8035

Place: Hyderabad Date: 14 August 2021 COMMERCIAL ENGINEERS AND BODY BUILDERS CO LIMITED

Regd.office :48,Vandana Vihar,Narmada Road, Jabalpur482 001,Madhya Pradesh,India-
Statement of Unaudited Financial Results for the quarter ended 30 June 2021

	Statement of Unaudited Financial Results for the quarter ended 30 June 2021
Sr.	Particulars No.	Quarter ended	Preceding quarterended	Correspondingquarter ended in theprevious year	(Rs.inLakhs)Year ended
		30 June 2021	31 March 2021	30 June 2020	31 March 2021
		Unaudited	Audited	Unaudited	Audited
			(Refer note 6)
123	Revenue from operationsOther incomeTotal Income (1+2)	5,567.8110.055,577.86	14,983.5890.7115,074.29	2,994.133.862,997.99	36,346.39108.0136,454.40
4	Expenses
	a) Cost of materials consumedb) Change in inventories of work-in-progress	4,926.83(412.92)	12,581.74(683.73)	1,807.60628.85	29,666.25(230.12)
	c) Employee benefits expense	363.72	412.02	212.76	1,247.56
	d) Finance costs	246.31	193.63	161.75	690.54
	e) Depreciation and amortisation expense	240;51	205.88	213.79	862.82
	f) Other expenses	576.48	1,248.26	220.42	2,974.30
	Total expenses	5,940.93	13,957.80	3,245.17	35,211.35
5	(Loss)/profit before tax (3-4)	(363.07)	1,116.49	(247.18)	1,243.05
6	(a) Tax expense(b) Tax adjustment related to earlier years				12.70
7	(Loss) / profit for the period/ year (5-6)	(363.07)	1,116.49	(247.18)	1,230.35
8	Other Comprehensive Income (OCI)Items that will not be reclassified subsequently to profit and lossRemeasurements of the defined benefit plans (net of taxes)Total Other Comprehensive income for the period/ year	18.6518.65	(16.02)(16.02)	(6.84)(6.84)	(35.86)(35.86)
9	Total Comprehensive(loss)/ income for the period/ year(7+8)	(344.42)	1,100.47	(254.02)	1,194.49
10	Paid-up equity share capital(Face value Rs.10/- each)	8,948.27	8,948.27	8,948.27	8,948.27
11	Reserves excluding revaluation reserves				1,790.42
12	(Loss) / earnings per share (EPS) (of Rs.10/- each)(EPS for the quarter ended are not annualised)Basic-Diluted-	(0.41)(0.41)	1.251.25	(0.28)(0.28)	1.371.37
	See accompanying notes to the unaudited financial results

Notes:

1 The above Statement of unaudited financial results for the quarter 30 June 2021 of Commercial Engineers and Body Builders Co Limited (" the Company"), were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 14 August 2021. The statutory auditors of the Company have carried out review of the above statement of financial results for the quarter ended 30 June 2021 and have issued an unmodified opinion. The financial results for the corresponding quarter have been reviewed by the erstwhile statutory auditors.

2 These resuits have been prepared in accordance with the applicable Indian Accounting Standards ('Ind AS'), 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) Regulations,2015 (as amended),including relevant circulars issued by the SEBI from time to time.

• 3 The Company is mainly engaged in the business of metal fabrication comprising load bodies for commercial vehicles and rail freight wagons in India. These,in the context of Ind -AS 108 is considered to constitute one single reportable segmeht. Accordingly, disclosures under Ind AS 108, Operating Segments are not applicable.
• 4 The outbreak of COVID-19 pandemic globally and in India is causing significant disturbance and slowdown of economic activity. While the Company's operations were impacted from the partial lockdown,the management believes that the impact is temporary and the pandemic is not likely to have a material impact on the recoverability of the carrying value of its assets as at 30 June 2021. The management is continuously and closely monitoring the developments and possible effects that may result from the pandemic on its financial condition, liquidity and operations and is actively working to minimize the impact of this unprecedented situation. As the situation is still continuously evolving, the eventual impact may be different from the estimates made as of the date of approval of these financial results.
• 5 The Board of Directors of the Company at its meeting held on 28 September 2020, approved a Scheme of Amalgamation ("the Scheme") of the Company with Jupiter Wagons Limited ('JWL'). The Company have received no objection / no adverse observation from stock exchanges (from NSE on 10 December 2020 and from BSE 14 December 2020). The Company has filed an application, on 13 March 2021, before the National Company Law Tribunal (NCLT), Indore branch at Ahmedabad. Further, during the current quarter, a meeting with secured and unsecured creditors and equity shareholders of the Comapny was convened on 25 June 2021,wherein,the resolution to approve the Scheme of Amalgamation was passed with requisite majority by the respective parties.The Scheme shall be effective post receipt of required approval from NCLT and accordingly, the above results currently do not reflect the impact of the Scheme.

6 The figures for the quarter ended 31 March 2021 are the balancing figures between the audited figures in respect of full financial year and the reported year -to-date figures up to the end of the third quarter.

7 These results have been filed with BSE Limited and National Stock Exchange of India Limited and i? also available on the Company's website at www.cebbco.com.

Place: Jabalpur Date : 14 August 2021

For and on behalf of the Board of Directors tr. So

K DAS & ASSOCIATES

9G Prabhu Ram Sarkar Lane, Kolkata -700015

Contact No.: +91 8335012355 E-Mail: kaushik.cost@gmail.com

Professional Snapshot

Mr.MridulKanti Chakraborty, FCMA. (Senior Cost Accountant)

• 1. FCMA Mridul Kanti Chakraborty has an extensive experience of over 18 Years in the field of Costing System Implementation, Cost Record, Cost Audit, Cost Analysis, System Audit, Internal Audit etc.
• 1. He has commendable track record as an advisor of cost records, cost audit and cost analyst.
• 1. He a senior faculty of EIRC of ICAI(Cost) and ICSI.

Mr.Kaushik Das, ACMA. (Cost Accountant)

1. He has an extensive experience of over 13 Years in the field of Accounts, Costing, Internal audit, GST Audit, Cost Audit and Fixed Assets Audit etc.

Organisational Scan

Cost Accounting Records & Cost Audit

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Internal Audit

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Stock Audit

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GST Audit

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Areas of Exposure
Accounts1.Costing SystemImplementation2.Cost RecordMaintenance	Management1.Cost Analysis2.CostReductionConsultancy	Audits1.Cost Audit2.Internal Audit3.Stock Audit4.GST Audit	System1.GAAP& AS2.GACAP& CAS

Reach Us K DAS & ASSOCIATES 9G PRABHU RAM SARKAR LANE KOLKATA-700015 Mridul Kanti Chakraborty Cont.:-9830049453 Mail Id:-mk.chakraborty1951@gmail.com Kaushik Das Cont.:-8335012355. Mail Id:-kaushik.cost@gmail.com