Jyoti Ltd. — Annual Report 2023

May 30, 2023

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By Electnic Mode

30[th ] May, 2023

General Manager DCS-CRD (Corporate Relationship Department) SSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

SCRIP CODE NO. 504076

Sub: Outcome of Board Meeting dated 30[th ] May. 2023

Dear Sir,

Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors in their Meeting held on 30[th ] May, 2023, considered and approved the following:

1. Approved the Audited Financial Results for the Quarter and Financial Year ended 31[st ] March 2023.

Further we enclose the following:

• a. Standalone Audited Financial Results for the Quarter and Financial Year ended 31[st ] March 2023.

• b. Consolidated Audited Financial Results for the Quarter and Financial Year ended 31[st ] March 2023.

• c. Auditor's Report on Standalone and Consolidated Financial Results.

• d. Declaration pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

The time of commencement of Board Meeting was 3.30 p.m. and the time of conclusion was 5.15 p.m.

Thanking you, Yours faithfully, For JYOTI LIMITED SURESH Digitally signed by SURESH DURGAPRASAD DURGAPRASAD SINGHAL Date: 2023.05.30 17:22:09 SINGHAL +05'30'

CS S. Singha! Vice President (Legal) & Company Secretary M. No. F8289

Encl: As above

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Regd. Office : Nanubhai Amin Marg, Industrial Area, P.O. Chemical Industries, Vadodara-390 003. (India) Ph. : 2282049 Fax: +91-265-2281871, E.Mail: jyotiltd@jyoti.com, Website: http://www.jyoti.com, CIN: L36990GJ1943PLC000363

JYOTI LIMITED

CIN : L36990GJ1943PLC000363

Nanubhai Amin Marg, Industrial Area, P.O. Chemical Industries, Vadodara - 390 003 Phone: + 91 63530 70339/63530 70343 Fax:++ 91-265-2281871 E-mail: jyotiltd@jyoti.com Website: http://www.jyoti.com

AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2023

	AUDITED STANDALONE FINANCIAL RESULT	S FOR THE QU	ARTER AND Y	EAR ENDED 3	1ST MARCH	, 2023
						(tLakhs)
Sr.	Particulars		Quarter Ended		Year Ended
No.		31-03-2023	31-12-2022	31-03-2022	31-03-2023	31-03-2022
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
1	Revenue from operations	5265	3448	4374	15455	12024
2	Other income	326	95	105	880	885
3	Total Income	5591	3543	4479	16335	12909
4	Expenses
	a) Cost of materials consumed	3381	2478	3271	10905	8819
	b) Purchase of stock-in-trade		-	-	-	-
	c) Change in inventories of finished goods	369	(113)	40	270	(303)
	and work-in-progress
	d) Employee benefits expense	595	505	438	2092	1823
	e) Finance costs	11	13	3	42	25
	f) Depreciation and amortisation expense	192	177	196	714	731
	g) Other expenses	347	350	305	1319	1205
	Total Expenses	4895	3410	4253	15342	12300
	Profit/(Loss) Before Interest, Tax, Depreciation& Amortisation ( EBITDA)	573	228	320	869	480
5	Profit/ (Loss) before exceptional items and tax	696	133	226	993	609
6	Exceptional items.	(592)	(14)	12	(655)	8
7	Profit/ (Loss) before tax	104	119	238	338	617
8	Tax expense
	- Current tax	-	-	-	-	-
	- Deferred tax	(79)	-	(105)	(79)	(105)
	- Short/ (Excess) provision of Tax for Earlier Years	-	-	-	-	576
9	Net Profit/(Loss)forthe period	183	119	343	417	146
10	Other Comprehensive Income/ (Expense)	14	2	32	22	36
	Total Comprehensive Income for the period	197	121	375	439	182
11	Paid up equity share capital (Face value_t_10)	2309	2309	2309	2309	2309
12	Earnings Per Share - Basic & Diluted (inf)	0.79	0.52	1.49	1.81	0.63

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JYOTI LIMITED

Statement of Assets and Liabilities Particulars A Assets 1 Non-urrent assets a) Propert, plant ad equipments b) Intangible property c) Non-current investents d) Defrred Tax Assets (Net) e) Oter non-current a ets Sub-total - Non-Current Assets 2 Curent assets a) Inventories b) Financial assets i) Trade receivables ii) Cash and cash equivalents iii) Ba balances pther tan (ii) above c) Oter current assets Sub-total - Current Assets Total Assets B Equit and Liabilities 1 Equity a) Share capital b) Oter equit Sub-total - Equity 2 Non-cu ent liabilites a) Financial .liabilities i) Borrowings b) Provisions c) Deferred tax liabilites (Net) d) Other non-current liabilites Sub-total - Non-Current Liabilites 3 Current liabilites a) Financial liabilites i) Borrowings ii) Trade payables - Micro and Small Enterprises -Oters b) Provisions c) Oter current liabilites Sub-total - Current Liabilites Total Equit and Liabilities	Asat 31-03-2023 (Audited) 4098 1 92 14 1511 5717 1222 15528 833 1182 3055 21820 27537 2309 (9701) (7392) 12600 444 727 � lakhs) As at 31-03-2022 (Audited) 4735 1 94 1690 6520 1686 16853 69 1168 3059 22835 29355 2309 (10140) (7831) 21600 516 65 790
	13771 22971
	12900 505 7188 77 488 21158 27537 5468 550 7523 79 595 14215 29355

Statement of Assets and Liabilities

I

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JYOTI LIMITED

Notes:

• 1) The above standalone results, have been audited by Statutory Auditors, recommended by the Audit Committee and approved by the Board of Directors of the Company.

• 2) Segmental Reporting is not applicable as the Company has only one segment.

• 3) The figures for the quarter ended 31st March, 2023 and the corresponding quarter of the previous year are balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures upto the third quarter for the relevant financial year.

• 4[)] The Company has continued to achieve positive EBITDA during the quarter and the year as a whole, in spite of challenges of business slowdown .impacting overall operations. This was enabled by sustained operating efficiencies and improved controls on fixed costs.

• The Company continues to execute orders in hand and obtain new orders of substantial values.

• 5) Exceptional items oft( 655) lakhs for the year is net off bad debts, provision of bad debts and profit on sale of old machineries.

• 6) The previous quarter's/year's figures have been regrouped/rearranged wherever necessary to make it comparable with the current quarter/ period.

For Jyoti Limited

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Place : Vadodara Date : 30/05/2023

RahulNanubhai Amin Chairman & Managing Director DIN : 00167987

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STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2023

		( � lakhs )
Pariculars		For the Year Ended 31st March,2022 (Audited) 617.12 730.79 24.73 (296.13) (567.52) 2.45 333.84 (7.57) (575.80) (355.21) 261.91 3,243.64 (557.42) (650.92) 2,035.30 2,297.21 1,668.49 3,965.70 (45.49) 10.32 (0.01) 296.13 567.52 828.47 23,204.75 (1,000.00) (20,649.72) (6,912.65) (5,357.62) (563.45) 632.52 69.07

Place : Vadodara Date : 30/05/2023

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Rahul Nanubhai Amin Chairman & Managing Director DIN : 00167987

JYOTI LIMITED

CIN : L36990GJ1943PLC000363

Nanubhai Amin Marg, Industrial Area, P.O. Chemical Industries, Vadodara- 390 003 Phone: +91 63530 70339/63530 70343 Fax:++ 91-265-2281871 E-mail: jyotiltd@jyoti.com Website: http://www.jyoti.com

AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED ON 31ST MARCH, 2023

	AUDITED CONSOLIDATED FINANCIAL RESULTS	FOR THE QU	ARTER AND YE	AR ENDED O	N 31ST MARC	H, 2023
						(�Lakhs)
Sr.	Particulars		Quarter Ended		Year Ended
No.		31-03-2023	31-12-2022	31-03-2022	31-03-2023	31-03-2022
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
1	Revenue from operations	5265	3448	4374	15455	12024
2	Other income	326	95	105	880	885
3	Total Income	5591	3543	4479	16335	12909
4	Expenses
	a) Cost of materials consumed	3381	2478	3271	10905	8819
	b) Purchase of stock-in-trade	-	-	-	-	-
	c) Change in inventories of finished goods	369	(113)	40	270	(303)
	and work-in-progress
		595	505	438	2092	1823
	e) Finance costs	11	13	3	42	25
	f) Depreciation and amortisation expense	192	177	196	714	731
	g) Other expenses	347	350	305	1319	1205
	Total Expenses	4895	3410	4253	15342	12300
	Profit/(Loss) Before Interest, Tax, Depreciation& Amortisation ( EBITDA)	573	228	320	869	480
5	Profit/ (Loss) before exceptional items and tax	696	133	226	993	609
6	Exceptional items	(592)	(14)	12	(655)	8
7	Share of Profit/ (Loss) of a Joint Venture	6	7	29	45	5
8	Profit/ (Loss) before tax	110	126	267	383	622
9	Tax expense
	- Current tax	-	-	-	-	-
	- Deferred tax	(79)	-	(105)	(79)	(105)
	- Short/ (Excess) provision of Tax for Earlier Years	-	-	-	-	576
10	Net Profit/(Loss) for the period	189	126	372	462	151
11	Other Comprehensive Income/ (Expense)	14	2	32	22	36
Total Comprehensive Income for the period		203	128	404	484	187
12	Paid up equity share capital (Face value_t_10)	2309	2309	2309	2309	2309
13	Earnings Per Share - Basic & Diluted (int )	0.82	0.55	1.61	2.00	0.65

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JYOTI LIMITED

Consolidated Statement of Assets and Liabilities		� lak)	� lak)
	As at	As at
Particulars	31-03-2023	31-03-2022
	(Audited)	(Audited)
AAssets
1Non-current assets
a) Property, plant and equipments	4098	4735
b) Intangible property	1	1
c) Non-urrent investents	1050	1005
d) Deferred Tax Assets (Net)	14	-
e) Other non-current assets	1511	1690
Sub-total - Non-Current Assets	6674	7431
2Current assets
a) Inventories	1222	1686
b) Financial assets
i) Trade receivables	15528	16853
ii) Cash and cash equivalents	833	69
iii) Ba balances other than (ii) above	1182	1168
c) Oter current assets	3055	3059
Sub-total - Cuent Assets	21820	22835
Total Assets	28494	30266
BEquity and Liabilities
1Equity
a) Share capital	2309	2309
b) Other equity	(8744)	(9229)
Sub-tota - Equity	(6435)	(6920)
2Non-ent liabilites
a) Financial liabilites
i) Borrowngs	12600	21600
b) Provisions	4	516
c) Deferred tax liabilites (Net)	-	65
d) Oter non-current liabilites	727	790
Sub-total - Non-Current Liabilites	13771	22971
3Current liabilites
a) Financial liabilites
i) Borrowngs	12900	5468
ii) Trade payables
- Micro and Small Enterprises	505	550
-Oters	7188	7523
b) Provisions	77	79
c) Other current liabilites	488	595
Sub-tota - Current Liabilities Total Equity and Liabilities	21158 28494	14215 30266		Rik � � 0 . . C • : ( ,. DA"'�' ,
				�'� �DAccO' --

Consolidated Statement of Assets and Liabilities

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JYOTI LIMITED

Notes:

• 1) The above consolidated results, have been audited by Statutory Auditors, recommended by the Audit Committee and approved by the Board of Directors of the Company.

• 2) The Financial Statement of the Joint Venture used in consolidation are drawn upto 31st December, 2022. 3) Segmental Reporting is not applicable as the Company has only one segment.

• 4[)] The figures for the quarter ended 31st March, 2023 and the corresponding quarter of the previous year are balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures upto the third quarter for the relevant financial year.

• 5) The Company has continued to achieve positive EBITDA during the quarter and the year as a whole, in spite of challenges of business slowdown impacting overall operations. This was enabled by sustained operating efficiencies and improved controls on fixed costs. The Company continues to execute orders in hand and obtain new orders of substantial values.

• 6) Exceptional items of �(655) lakhs for the year is net off bad debts, provision of bad debts and profit on sale of old machineries.

• 7) The previous quarter's/year's figures have been regrouped/rearranged wherever necessary to make it comparable with the current quarter/ period.

For Jyoti Limited

Place : Vadodara Date : 30/05/2023

0L Rahul Nanubhai Amin Chairman & Managing Director , DIN : 00167987

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CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2023

		(�lakhs)
Particulars	For the Year Ended 31st March,2023 (Audited)	For the Year Ended 31st March,2022 (Audited)
A. CASH FLOW FROM OPERATING ACTIVITIES Net Profit(Loss) before tax and non-recurring items : Adjustments for 1 Depreciation 2 Finance Cost charged 3 Interest Received 4 Dividend Received 5 (Profit)/Loss on Sale of Fixed Assets (Net) 6 Bad Debts 7 Provision for Doubtful Debts /Advances and Impairment of Capital WIP 8 Provision for diminution in value of Investments 9 Shor(Excess) provision of Tax for Earlier Years Operating Profit / (Loss) before Working Capital changes MovementinWorkingCapital 1 Trade and Other Receivables 2 Inventories 3 Trade and Other Payables Net change in Working Capital Cash Generated from Operations Direct Taxes Paid (Net) NET CASH INFLOW FROM OPERATING ACTIVITIES ( A ) B. CASH FLOW FROM INVESTING ACTIVITIES 1 Purchase of Fixed Assets 2 Proceeds from Sale of Fixed Assets 3 Investments 4 Interest Received 5 Dividend Received NET CASH UTILISED IN INVESTING ACTIVITIES ( B ) C. CASH FLOW FROM FINANCIAL ACTIVITIES 1 Proceeds from Equity Share Capital & Other Equity (a) Equity Share Capital (b) Securities Premium Reserve (c) Capital Reserve (d) Refund of Share Application Money 2 Proceeds from Borrowings ( Net ) 3 Interest ( Net ) NET CASH GENERATED IN FINANCIAL ACTIVITIES ( C ) NET INCREASE/ ( DECREASE ) IN CASH AND CASH EQUIVALENTS ( A + B + C ) Cash and Cash Equivalents as at 01-04-2022 Cash and Cash Equivalents as at 31-03-2023	383.15 713.72 42.31 (238.99) (604.50) (0.29) 75.34 654.55 (1.66) 640.48 1,023.63 569.65 463.28 (602.31) 430.62 1,454.25 188.35 1,642.60 (115.06) 46.47 (43.65) 238.99 604.50 731.25 (1,567.49) (42.31) (1,609.80) 764.05 69.07 833.12	621.90 730.79 24.73 (296.13) (567.52) 2.45 333.84 (7.57) (575.80) (355.21) 266.69 3,243.64 (557.42) (650.92)
		2,035.30 2,301.99 1,668.49 3,970.48 (45.49) 10.32 (4.79) 296.13 567.52 823.69 23,204.75 (1,000.00) (20,649. 72) (6,912.65) (5,357.62) (563.45) 632.52 69.07

Notes : i) Previous year figures are regrouped wherever necessary. ii) Figures in brackets indicate negative figures.

Place : Vadodara Date : 30/05/2023

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For Jyoti Limited . Chairman & Managing Director W.b: DIN : 90167987

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AMIN PARIKH & CO. CHARTERED ACCOUNTANTS

205-206, UjJawal Complex, Near Akota Stadium, Opp. Shrenik Park Vadodara Phone· (0265) 3589020 E-mail aminpankh@yahoo.com

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To, The Board of Directors, Jyoti Limited, Naoubhai Amin Marg, Industrial Area, P.O. Chemical Industries, Vadodara -390003

Dear Sir,

Re: Independent Auditor's Limited Report on Standalone Audited Quarterly and year to date Financial Results of Jyoti Limited pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

1. We have audited the Standalone Quarterly Financial Results of Jyoti Limited ("the Company') for the Quarter ended 31st March, 2023 and the Standalone Financial Results for the year ended 31st March, 2023 ("the financial results"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) as amended, read with SEBI Circular No. CIR/CFD/CMDl/44/2019 dated March 29, 2019 (the Circular).

2. The Preparation of the Statement in accordance with recognition and measurement principal laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under 133 of the Companies Act, 2013 read with relevant Rules issued thereunder and other accounting principles generally accepted in India, is the responsibility of the Company's Management and has been signed by management of the Company. Our responsibility is to express a conclusion on the Statement based on our audit.

3. We conducted our audit of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountant of India.

An audit includes examining on a test basis, evidence supporting the amounts disclosed in financial results. An audit also includes assessing the accounting principles used and significant estimates made by the Management. We believe that our audit provides a reasonable basis for our opinion.

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FOUNDER PARTNERS LATE SHRI C D. AMIN. LATE SHRI R. J. PARIKH

4. CONCLUSION:

Based on our audit conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of standalone audited financial results read with Notes thereon, prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the infonnation required to be disclosed in tenn of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For AMIN PARIKH & CO. Chartered Accountants FRN: 100332W CA SAMIR R. ARIKH Partner M. No. : 41506 Place : Vadodara Date : 30/05/2023 UDIN : 2. 3 0 u 'l So<, e, e,.. vJ i: Q o '.l O) t

AMIN PARIKH & CO. CHARTERED ACCOUNTANTS

205-206 Ujjawal Complex Near Akota Stadium, Opp. Shrenik Park,Vadodara.Phone. (0265) 3589020 E-mail: aminparikh@yahoo com

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To,

The Board of Directors,

Jyoti Limited, Nanubhai Amin Marg, Industrial Area, P.O. Chemical Industries, Vadodara -390003

Dear Sir,

Independent Auditor's Limited Report on Consolidated Audited Quarterly and year to date Financial Results of the Company pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

1. We have audited the accompanying Statement of Consolidated audited Financial Results of JYOTI LIMITED and its share of the net Profit after tax and total comprehensive income of its Joint Venture for the year ended 31[st ] March, 2023 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 Regulation 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) as amended, read with SEBI Circular No. CIR/CFD/CMDl/44/2019 dated March 29, 2019 (the Circular).

2. This Statement, which is the responsibility of the Management and has been signed by management & has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, read with relevant Rules there under and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our audit.

3. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Companies Act 2013. 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 judgment, 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 Company's internal financial control with reference to the Statement. 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.

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FOUNDER PARTNERS: LATE SHRI C. D. AMIN, LATE SHRI R J. PARIKH

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.

We believe that the audit evidence obtained by us and the audit evidence obtained by the Joint Venture auditor in terms of their reports 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 reports of the other auditors on separate financial statements and the other financial information of joint ventures referred to in paragraph 5 below, the Statement:

2. a. includes the results of the following entities:

Joint Venture of Jyoti Limited Jyoti Sohar Switchgear LLC (Sultanate of Oman

• b. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and gives a true and fair view in conformity with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated total comprehensive income comprising of net profit and other financial information of the Company for the Year ended 31st March, 2023.

• We did not audit (a) total assets of Rs. 3,839.11 Lakhs as at 31st December, 2022 (b) total revenue of Rs. 1,987.76 Lakhs for the year ended 31st December, 2022 (c) Company's share of profit of Rs. 45.30 Lakhs for the year ended 31st December, 2022 in respect of Joint Venture included in the accompanying Consolidated Financial Results, whose Financial Results and other information for the year ended on that date have been audited/reviewed by other auditors and whose reports have been furnished to us. Our opinion so far as it relates to the affairs of such Joint Venture is solely based on the report of other auditors. As informed by the Management, there are no material transactions during the remaining period i.e. 1 [st ] January, 2023 to 31 [st ] March, 2023 of Joint Venture on the Consolidated Financial Statements as at 31 [st ] March, 2023.

For AMIN PARIKH & CO. Chartered Accountants FRN : 100332W CA SAM�R[t] AfilKH Partner M. No. : 41506 Place : Vadodara Date : 30/05/2023 UDIN : 'l.:,OL\'l.S06BCrvJfQ,P1S..\�

Jyoti Ltd. ® Water • Power • Progress

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By Electronic Mode

30th May, 2023

The General Manager DCS-CRD (Corporate Relationship Department) BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001

SCRIP CODE NO.: 504076

Sub: Declaration pursuant to regulation 33 (3)(d) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended till date

We hereby declare that the Statutory Auditors of the Company, Amin Parikh & Co., have issued Audit Report with unmodified opinion on Audited Financial Results of the Company (Standalone and Consolidated) for the year ended 31 st March, 2023.

This declaration is given in compliance with· Regulation 33 (3) (d) of SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015.

You are requested to take the same on your records.

Thanking You,

Yours faithfully, For Jyoti Limited Rontffshah Chief Financial Officer

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Regd. Office : Nanubhai Amin Marg, Industrial Area, P.O. Chemical Industries, Vadodara-390 003. (India) Ph. : 2282049 Fax: +91-265-2281871, E.Mail :jyotiltd@jyoti.com, Website: http://www.jyoti.com, CIN: L36990GJ1943PLC000363