Jyoti Ltd. — Interim / Quarterly Report 2023

Aug 8, 2022

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By Electronic Mode

8[th ] August, 2022

General Manager DCS-CRD (Corporate Relationship Department) The Stock Exchange -Mumbai Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

SCRIP CODE NO. 504076

Sub: Unaudited Financial Results for the Quarter ended 30[th ] June, 2022

Dear Sir,

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors at their Meeting held on 8[th ] August, 2022, considered and approved the Standalone and Consolidated Unaudited Financial Results for the Quarter ended on 30[th ] June, 2022, along with Limited Review Report received from Statutory Auditors of the Company, M/s. Amin Parikh & Co. Chartered Accountants, Vadodara which are attached herewith.

The time of commencement of Board Meeting was 4:00 p.m. and the time of conclusion was 4:45 p.m.

--'

Thanking you,

Yours faithfully, F/J JYOTI LIMITED �� iJ1-_-, CS S. Singha! Vice President (Legal) & Company Secretary M. No. F8289

Encl: As above

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· po Ch · I I dustries Vadodara-390 003. (India) Ph. : 2282049 w· ·b .1e��C:p·/�www J·yoti com GIN : L36990GJ1943PLC000363 Fax: +91-265-2281871, E.Ma1I: Jyot1ltd@Jyot1.com, e s1 e. . • · , Regd. Office: Nanubhai Amin Mar g, lndu5!nal_Area,

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

UNAUDITED ST AND ALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2022

Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 Particulars Revenue fom Operatons Other Income Total Income Expenses a) Cost of materials consumed b) Purchase of stock-in-tade c) Change in inventories of fnished goods, work-in-progress and stock-in-tade d) Employee benefit expense e) Finance Costs f) Depreciaton and amortsaton expense g) Other Expenses Total Expenses Profit/(Loss) Before Interest, Tax, Depreciation& Amortisation ( EBITA) Profit/(Loss) before exceptonal items and tax Exceptonal items Profit/ (Loss) before tax Tax Expense - Current Tax - Deferred Tax - Short/ (Excess) provision of Tax for Ear lier Years Net Profit(Loss) for the period Other Comprehensive Income/ (Expense) Total Comprehensive Income for the period Paid up equity share capital (Face value � 10) Earnings Per Share - Basic & Diluted (in�)			( � lakhs)	( � lakhs)
	Quarter Ended			Year Ended
	30-06-2022 31-03-2022 (Unaudited) (Audited) 2635 4374 231 - 105 2866 4479 2239 3271 - - (427) 40 464 438 4 3 173 196 315 305 2768 4253 44 320 98 226 - 12 98 238 - - - (105) .98 343 5 32 103 375 2309 2309 0.43 1.49	30-06-2021 (Unaudited) 2236 211 2447 1591 - (117) 398 4 178 305 2359 59 88 (14) 74 - - 74 2 76 2309 0.32		31-03-2022 (Audited)
				12024 885 12909
				8819 - (303) 1823 25 731 1205 12300 480 609 8 617 - (105) 576 146 - 36 182 2309 0.63

Notes:

1) The above Standalone Results, have been reviewed 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) Provision for Income Tax / Deferred Tax, if any, will be made at the end of the year.

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

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For Jyoti Limited RAHUL Digitally signed by NANUBHAI RAHUL NANUBHAI AMIN Date: 2022.08.08 AMIN 16:45:51 +05'30'

Rahul N anubhai Amin Chairman & Managing Director DIN : 00167987

Place : Vadodara Date : 08/08/2022

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 UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2022

CIN: L36990GJ1943PLC000363 Nanubhai Amin Marg, Industial Area, P.O. Chemical. Industies, Vadodara - 390 003 Phone: +91 63530 70339/63530 70343 Fax:++ 91-265-2281871 E-mail: jyotltd@yoti.com Website: http:/ /www.jyot.com UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2022	CIN: L36990GJ1943PLC000363 Nanubhai Amin Marg, Industial Area, P.O. Chemical. Industies, Vadodara - 390 003 Phone: +91 63530 70339/63530 70343 Fax:++ 91-265-2281871 E-mail: jyotltd@yoti.com Website: http:/ /www.jyot.com UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2022	CIN: L36990GJ1943PLC000363 Nanubhai Amin Marg, Industial Area, P.O. Chemical. Industies, Vadodara - 390 003 Phone: +91 63530 70339/63530 70343 Fax:++ 91-265-2281871 E-mail: jyotltd@yoti.com Website: http:/ /www.jyot.com UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2022	CIN: L36990GJ1943PLC000363 Nanubhai Amin Marg, Industial Area, P.O. Chemical. Industies, Vadodara - 390 003 Phone: +91 63530 70339/63530 70343 Fax:++ 91-265-2281871 E-mail: jyotltd@yoti.com Website: http:/ /www.jyot.com UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2022	CIN: L36990GJ1943PLC000363 Nanubhai Amin Marg, Industial Area, P.O. Chemical. Industies, Vadodara - 390 003 Phone: +91 63530 70339/63530 70343 Fax:++ 91-265-2281871 E-mail: jyotltd@yoti.com Website: http:/ /www.jyot.com UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2022
(t lakhs)
Sr. No. 1 2 Quarter Ended Particulars 30-06-2022 31-03-2022 (Unaudited) (Audited) Revenue from Operatons 2635 4374 Other Income 231 105 30-06-2021 (Unaudited) 2236 211				Year Ended 31-03-2022 (Audited) 12024 885
3 Total Income 2866		4479 3271 - 40 438 3 196 305	2447 1591 - (117) 398 4 178 305	12909 8819 - (303) 1823 25 731 1205 12300
4 Expenses a) Cost of materials consumed 2239 b) Purchase of stock-in-tade - c) Change in inventories of finished goods, (427) work-in-progress and stock-in-tade d) Employee benefits expense 464 e) Finance Cost 4 f) Depreciaton and amortisation expense 173 g) Other Expenses 315
Total Expenses	2768	4253	2359
5 6 7 8 9 10 11 Proft/(Loss) Before Interest, Tax, Depreciation& 44 320 Amortisation ( EBITA) Profit/ (Loss) before exceptonal items and tax 98 · 226 Exceptonal items - 12 Share of Profit / (Loss) of a Joint Venture 23 29 Profit/ (Loss) before tax 121 267 Tax Expense - Current Tax - - - Deferred Tax - (105) - Short/ (Excess) provision of Tax for Earlier Years - - Net Profit(Loss) for the period 121 372 Other Comprehensive Income/ (Expense) 5 32			59 88 (14} 7 81 - - - 81 2 480 609 8 5 622 - (105) 576 151 36
Total Comprehensive Income for the period 126 404			83 187
12 13 Paid up equity share capital (Face value t 10) 2309 2309 Eargs Per Share - Basic & Diluted(int) 0.53 1.61 2309 0.35 - 2309 0.65

Notes:

• 1) The above Consolidated Results, have been reviewed 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 March, 2022.

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

• 4) Provision for Income Tax / Deferred Tax, if any, will be made at the end of the year.

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

Place : Vadodara Date : 08/08/2022

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For Jyoti Limited RAHUL Digitally signed by RAHUL NANUBHAI NANUBHAI AMIN Date: 2022.08.08 AMIN 16:46:15 +05'30' Rahul NanubhaiAmin Chairman & Managing Director DIN : 00167987

AMIN PARIKH & CO. CHARTERED ACCOUNTANTS 205-206, Ujjawal Complex, Near Akota Stadium, Opp. Shrenik Park,Vadodara.Phone: (0265) 2350746/47 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,

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

1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Jyoti Limited for the quarter and period ended on 30[th ] June, 2022 for the period from 1 [st ] April, 2022 to 30[th ] June 2022 together with the notes thereon (hereinafter referred to as "the Statement" and initiated . for the purpose of identification) 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/4.4/2019 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 review.

3. We conducted our review 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 oflndia.

This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures, applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

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

4. We draw attention to:­

Emphasis of matters:

• a) In view of below,

• (i) Continued accumulated losses and erosion of the Net Worth;

there is an uncertainty about the Company's ability to continue as a going concern.

However,

• (a) Operating highlights Ongoing operations with improved business prospects, continues to execute orders in hand, increasing & giving additional focus on turnover of spares, retrofit & service orders which contribute good margin & obtain new orders despite adversities from private as well as public sector, positive EBITDA, robust cost controls

• (b) Financial restructuring - acquisition of total debt of the Company due with Banks by Rare Asset Reconstruction Ltd.

• (c) Considering above, the Management is very positive about the Company's viability and optimistic about its future.

In view thereof, the Financial Statements have been prepared by the Management on a 'Going Concern' basis and no adjustment is considered necessary, except for the provisions made in the books of account, to the recorded assets, recorded liabilities, contingent liabilities and other commitments.

• b) The Financial Statements regarding recoverability of Trade Receivable, Advances (which are subject to confirmation) and Impairment of Assets, other than those provided for during the quarter, which has been considered good by the Management.

• c) Inventories of WIP have been valued using estimated progress percentage and standard conversion costs as applied to quantities derived from material issues for the period less finished goods produced. Inventories of Finished Goods have been valued using estimated profitability percentages of the previous year as applied to sales price of finished inventories as of the period end, valuation method for valuation oflnventories, c9nsistently followed at each quarter. Physical verification of inventories has not been performed and thereof differences in quantities are not known. The effects of the foregoing estimates and bases in arriving at the closing inventories are not determined. However such exercise is done at the year end.

• d) The matters described in sub-paragraph (a) to (c) under the Emphasis of Matters may have an effect on the functioning of the Company.

Our opinion is not modified in respect of these matters.

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5. CONCLUSION:

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of standalone unaudited financial results read with Notes thereon, prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in term 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 CASAMIR PARIKH Partner M. No. : 41506 Place : Vadodara Date : 08/08/2022 UDIN : 22041506A0NWSU4724

- AMIN PARIKH & CO. CHARTERED ACCOUNTANTS

205-206, Ujjawal Complex, Near Akota Stadium, Opp. Shrenik Park,Vadodara.Phone: (0265) 2350746/47 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 Review Report on Consolidated Unaudited 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 reviewed the accompanying Statement of Consolidated Unaudited Financial Results of JYOTI LIMITED and its share of the net Profit after tax and total comprehensive income of its Joint Venture for the quarter ended 30[th ] June, 2022 for the period from 1[st ] January 2022 to 31[st ] March 2022 together with the notes thereon ("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 review.

3. We conducted our review of the Statement in accordance with the Standards 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 cotisists 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.

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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.

1. The Statement includes the results of the following entities:

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

5.Emphasis of Matters

• a) In view of below,

• (i) Continued accumulated losses and erosion of the Net Worth;

there is an uncertainty about the Company's ability to continue as a going concern.

However,

• (a) Operating highlights - Ongoing operations with improved business prospects, continues to execute orders in hand, increasing & giving additional focus on turnover of spares, retrofit & service orders which contribute good margin & obtain new orders despite adversities from private as well as public sector, positive EBITDA, robust cost controls.

• (b) Financial restructuring - acquisition of total debt of the Company due with Banks by Rare Asset Reconstruction Ltd.

• (c) Considering above, the Management is very positive about the Company's viability and optimistic about its future.

In view thereof, the Financial Statements have been prepared by the Management on a 'Going Concern' basis and no adjustment is considered _, necessary, except for the provisions made in the books of account, to the recorded assets, recorded liabilities, contingent liabilities and other commitments.

• b) The accounts of Trade Receivables, Trade Payables and Advances are subject to reconciliation/confirmation. The financial statements regarding recoverability of Trade Receivables, Advances and Impairment of Assets other than those provided for during the year, which has been considered good by the Management.

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1. The Consolidated Unaudited Financial Results includes the Interim Financial Results of a Joint Venture which have not been reviewed by us or their auditors, whose interim financial result reflects (a) total assets of Rs. 4,005.95 Lakhs as at 31st March, 2022 (b) total revenue of Rs. 1,109.67 Lakhs for the three months ended 31st March, 2022 (c) Company's share of profit of Rs. 23.21 Lakhs for the three months ended 31st March, and cash flows of Rs. 284.26 lakhs for the period from 1st January, 2022 to 31st March, 2022 as considered in the Consolidated Unaudited Financial Results.

Our opinion on the Statement is not modified in respect of the above matters.

For AMIN PARIKH & CO. Chartered Accountants FRN : 100332W CA SAMIR . PARIKH Partner M.No. : 4 506 Place : Vadodara Date : 08/08/2022 UDIN : 22041506AONXHS3622

..,