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Kabra Extrusion Technik Ltd — Interim / Quarterly Report 2020
Nov 9, 2019
62521_rns_2019-11-09_572beb62-88d7-4be9-8b39-86437cc3f7ec.pdf
Interim / Quarterly Report
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KET/SEC/SE/2019-20 November 09, 2019
Floor 25, Phiroze Jeejeebhoy Tower, Exchange Plaza, C—1, Block-G, Mumbai — 400 001 Mumbai-400051.
BSE Limited National Stock Exchange India Limited Dalal Street, Bandra Kurla Complex, Bandra (East),
Scrip Code: 524109 Stock Code: KABRAEXTRU
Dear Sirs,
Sub: Outcome of Board Meeting of the Companv held on November 09. 2019
In continuation to our letter dated November 01, 2018 and in terms of the provisions of Regulations 30 and Regulation 33 of the SEBl (Listing Obligations 8L Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company has today at its meeting approved, inter alia the Unaudited Financial Results (Standalone 8L Consolidated) for the quarter and half year ended September 30, 2019. A copy of the said Unaudited Financial Results and Limited review report are enclosed.
The meeting of the Board of Directors commenced at 02:30 pm. and concluded at 04:30 pm.
Kindly take our above submission on your record.
Thanking you,
Yours faithfully, , For Kabra Extrusiontechnik Ltd.
(k l, (Cl/«'1
Arya K. Chachad Company Secretary
Encl: As above
Kabra Extrusiontechnik Limited Fortune Terraces, B wing, 10th Floor, Link Road, Opp. Citi Mall, Andheri (West). Mumbai— 400 053. Maharashtra, lndia. Phone: +91-22-2673 4822/23/24/25 - Fax: +91-22-2673 5041 - Email :salesg'ykolsitegroupcom GSTIN : 27AAACK4289L2Z1 A Collaboration With Works 1 Kabra Industrial Estate. Kachigam, Daman-396210. India ' vk Works 2 battenfeld—cincinnei'i", Survey No. 259/1 to 5 260/1 to 6, 265/3, Coastal Highway, Dunetha, Daman»396210. lndia. Tel.: +91—8511152180/8511152152/072270352110E-mail : [email protected] Works 1 & 2 GSTIN : 25AAACK4289L1Z6I ClN-L28900MH1982PL0028535
wwwkolsitecom A Kolsite Group Company
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| $(3 \times 1)$ alkhs | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STANDALONE | CONSOLIDATED | ||||||||||||
| Sr. No. | Particulars | Quarter Ended | Half Year Ended | Year Ended | Quarter Ended | Half Year Ended | Year Ended | ||||||
| Sept 30 | June 30 | Sept 30 | Sept 30 | Sept 30 | Mar31 | Sept 30 | June 30 | Sept 30 | Sept 30 | Sept 30 | Mar 31 | ||
| 2019 | 2019 | 2018 | 2019 | 2018 | 2019 | 2019 | 2019 | 2018 | 2019 | 2018 | 2019 | ||
| auditedŠ | Unaudited | Unaudited | Unaudited | Unaudited | Audited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||
| Revenue from operations | ,261.66 | 3,538.17 | 4,699.00 | 9,799.84 | 9,104.31 | 24,514.19 | 6,261.66 | 3,538.17 | 4,699.00 | 9,799.84 | 9,104.31 | 24,514.19 | |
| ⊨ | Other Income | 99.02 | 46.40 | 1,345.54 | 145.43 | 1,379.16 | 1,993.59 | 99.02 | 46.40 | 1.345.54 | 145.43 | 1,379.16 | 1,993.59 |
| $\equiv$ | Total income $(1 + II)$ | 360.69$\circ$ | 3,584.58 | 6,044.54 | 9,945.26 | 10,483.47 | 26,507.78 | 6,360.69 | 3,584.58 | 6,044.54 | 9,945.26 | 10,483.47 | 26,507.78 |
| $\geq$ | EXPENSES | ||||||||||||
| Cost of material consumed | 827.40 | 3,517.02 | 3,217.82 | 7,344 42 | 7,549.06 | 15,750.47 | 3,827.40 | 3,517.02 | 3,217.82 | 7,344.42 | 7,549.06 | 15,750.47 | |
| Changes in inventories of finished goods & work in progress | (36, 48) | (1,254.75) | (430.05) | (1, 291.23) | (1,957.75) | (797.02) | (36.48) | (1,254.75) | (430.05) | (1, 291.23) | (1,957.75) | (797.02) | |
| Excise Duty | |||||||||||||
| Employee benefit expense | 823.17 | 853.80 | 912.17 | ,676.96 | 1,841.10 | 3,471.82 | 823.17 | 853.80 | 912.17 | 1,676.96 | 1,841.10 | 3,471.82 | |
| Finance Cost | 46.40 | 31.43 | 65.22 | 77.83 | 108.10 | 250.26 | 46.40 | 31.43 | 65.22 | 77.83 | 108.10 | 250.26 | |
| Depreciation and amortisation expense | 191.13 | 188,28 | 175.96 | 379.41 | 355.74 | 723.24 | 191.13 | 188.28 | 175.96 | 379.41 | 355.74 | 723.24 | |
| Other Expenses | 933.88 | 850.42 | 901.45 | ,784.31 | ,621.48 | 4,023.03 | 933.88 | 850.42 | 901.45 | .784.31 | ,621.48 | 4,023.03 | |
| Total expenses (IV) | ,785.50ю | 4,186.20 | 4,842.57 | 9,971.69 | 9,517.73 | 23,421.80 | 5.785.50 | 4,186.20 | 4,842.57 | 9,971.69 | 9,517.73 | 23,421.80 | |
| $\triangleright$ | Profit/(Loss) before exceptional items & tax (III - IV) | 575.19 | (601.62) | 1,201.97 | (26.43) | 965.74 | 3,085.98 | 575.19 | (601.62) | 1,201.97 | (26.43) | 965.74 | 3,085.98 |
| ⋝ | Share in Profit/(Loss) of Joint Ventures (net of tax) | 5.56 | (1.17) | (0.02) | 4.39 | (0.17) | (9.93) | ||||||
| ξĪ | Exceptional items | ||||||||||||
| VIII | Profit/ (Loss) before tax (V - VI) | 575.19 | (601.62) | 1,201.97 | (26, 43) | 965.74 | 3,085.98 | 580.75 | (602.79) | 1,201.94 | (22.04) | 965.57 | 3,076.04 |
| $\mathbf{X}$ | Tax expenses | ||||||||||||
| Current Tax | 440.00 | 440,00 | |||||||||||
| Income Tax Earlier Year | 33.83 | 33.83 | |||||||||||
| MAT Credit entitlement | (70.67) | (70.67) | |||||||||||
| Deferred Tax | (112.26) | (1.39) | 293.33 | (113.66) | 293.30 | 235.60 | 112.26) | (1.39) | 293.33 | (113.66) | 293.30 | 235.60 | |
| × | Profit/ (Loss) for the period (VII - VIII) | 687.45 | (600.23) | 908.63 | 87.23 | 672.44 | 2,447.21 | 693.01 | (601.39) | 908.61 | 91.62 | 672.27 | 2,437.28 |
| $_{\rm X}$ | Other Comprehensive Income | ||||||||||||
| ) Items that will not be reclassified to profit or loss | (134.80) | 4.62 | (63.84) | (130.18) | 87.57 | (298.48) | (134.80) | 4.62 | (63.84) | (130.18) | 87.57 | (298.48) | |
| XII | Total Comprehensive Income for the period $(IX + X)(Comprising Profit)$ii) Income tax relating to items that will not be reclassified to profit or loss | , | (21.37) | (21.37) | (83.87) | (21.37) | (21.37) | (83.87) | |||||
| (Loss) and Other Comprehensive Income for the period) | 552.65 | (595.61) | 823.42 | (42.96) | 738.65 | 2,064.86 | 558.21 | (596.78) | 823.39 | (38.57) | 738.47 | 2,054.93 | |
| XIII | Paid up Equity Share Capital | 595.12 | 1,595.12 | 1,595.12 | 1,595.12 | 1,595.12 | 1,595.12 | 1,595.12 | 1,595.12 | 1,595.12 | 1,595.12 | 1,595.12 | 1,595.12 |
| XIV | Earning per equity share basic and diluted but not annualized (for(Face Value of Rs. 5/- each) | 2.15 | (1.88) | 2.85 | 0.27 | 2.11 | 7.67 | 2.17 | (1.89) | 2.85 | 0.29 | 2.11 | 7.64 |
| continuing operations) |
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KABRA EXTRUSIONTECHNIK LIMITED (CIN : L28900MH1982PLC028535)
FORTUNE TERRACES, 10TH FLOOR, B WING, OPP. CITI MALL, LINK ROAD, ANDHERI (WEST), MUMBAI - 400 053
Statement of Assets & Liabilities (Standalone & Consolidated) as at 30th September, 2019
| (Rupees in lakhs)CONSOLIDATED | ||||||
|---|---|---|---|---|---|---|
| STANDALONE | ||||||
| Sr. | Particulars | As at Sept | As at March | As at Sept | As at March | |
| No. | 30, 2019 | 31, 2019 | 30, 2019 | 31, 2019 | ||
| ASSETS | ||||||
| (1) | Non-current assets | |||||
| Property, Plant and Equipment | 1 1,367.66 | 11,588.24 | 11,367.66 | 1 1,588.24 | ||
| Capital work-in-progress | 1 1.03 | 96.36 | 1 1.03 | 96.36 | ||
| InvestmentProperty | - | - | ||||
| Goodwill | - | - | ||||
| OtherIntangibleassets | 397.93 | 425.74 | 397.93 | 425.74 | ||
| Financial Assets | ||||||
| Investments | 3,672.04 | 3,802.22 | 3,616.23 | 3,742.03 | ||
| Trade receivables | - | — | ||||
| Loans | 92.16 | 83.95 | 92.16 | 83.95 | ||
| Others | - | - | ||||
| Deferred tax assets(net) | 280.63 | 166.97 | 280.63 | 166.97 | ||
| Other non-currentassets | 537.42 | 537.42 | 537.42 | 537.42 | ||
| Total non-current assets | 16,358.85 | 16,700.90 | 16,303.05 | 16,640.71 | ||
| (2) | Current assets | |||||
| Inventories | 11,270.23 | 10,616.19 | 11,270.23 | 10,616.19 | ||
| Financial Assets | ||||||
| Investments | 4,320.10 | 1,367.07 | 4,320.10 | 1,367.07 | ||
| Trade receivables | 1,968.21 | 3,542.61 | 1,968.21 | 3,542.61 | ||
| Cash and cash equivalents | 585.00 | 216.47 | 585.00 | 216.47 | ||
| Other balanceswith banks | 55.40 | 55.45 | 55.40 | 55.45 | ||
| Loans | 58.15 | 46.84 | 58.15 | 46.84 | ||
| Other financial assets | 200.60 | 1,046.46 | 200.60 | 1,046.46 | ||
| CurrentTax Assets(net) | - | - | - | - | ||
| Other current assets | 898.34 | 726.70 | 898.34 | 726.70 | ||
| Total current assets | 19,356.02 | 17,617.79 | 19,356.02 | 17,617.79 | ||
| TOTAL ASSETS | 35,714.88 | 34,318.69 | 35,659.07 | 34,258.50 | ||
| EQUITY AND LIABILITIES | ||||||
| Equity | ||||||
| Equity Share capital | 1,595. 12 | 1,595.12 | 1,595. 12 | 1,595.12 | ||
| Other Equity | 23,034.61 | 23,077.56 | 22,978.80 | 23,017.37 | ||
| Total eq uitv | 24,629.72 | 24,672.68 | 24,573.92 | 24,612.49 | ||
| LIABILITIES | ||||||
| (1) | Non-current liabilities | |||||
| Financial Liabilities | ||||||
| Borrowings | - | - | - | - | ||
| Trade payables | - | - | - | - | ||
| Other financial liabilities | - | - | - | - | ||
| Provisions | 266.75 | 266.75 | 266.75 | 266.75 | ||
| Deferred tax liabilities(net) | - | - | - | — | ||
| Other non-currentliabilities | - | - | - | - | ||
| Total non-current liabilities | 266.75 | 266.75 | 266.75 | 266.75 | ||
| (2) | Current liabilities | |||||
| Financial liabilities | ||||||
| Borrowings | 1,366.47 | 942.82 | 1,366.47 | 942.82 | ||
| Trade payables | 3,381.96 | 3,820.44 | 3,381.96 | 3,820.44 | ||
| Otherfinancialliabilities | 1,268.66 | 1,065.18 | 1,268.66 | 1,065.18 | ||
| Other current liabilities | 4,462.52 | 2,945.73 | 4,462.52 | 2,945.73 | ||
| Provisions | 299.61 | 299.61 | 299.61 | 299.61 | ||
| Currenttax liabilities(net) | 39.19 | 305.48 | 39.19 | 305.48 | ||
| Total current liabilities | 10,818.41 | 9,379.27 | 10,818.41 | 9,379.27 | ||
| Total liabilities | 11,085.16 | 9,646.01 | 11,085.16 | 9,646.01 | ||
| TOTAL EQUITY AND LIABILITIES | 35,714.88 | 34,318.69, | 35,659.07 | 34 258.50 |
Place : Mumbai Date : 09/11/2019

For and on behalf ofthe Board of Kabra ExtrusiontechnikLimited
I
«13,,»- . S. V. Kabra
Chairman & Managing Director
KABRAEXTRUSIONTECI-INIKLIMITED (CIN 2 L28900MH1982PLC028535)
REGD. OFFICE2 FORTUNE TERRACES,10TH FLOOR,B WING, OPP. CITI MALL, LINK ROAD, ANDI-IERI (WEST), MUMBAI - 400 053 linauditcd Cash Flow Statement (Standalone & Consolidated)for the half-year ended 30th September, 2019
(All amountsare in Indian rupeeslakhs unless0themise stated)
| STANDALONE | CONSOLIDATED | |||||
|---|---|---|---|---|---|---|
| "mm" | For the HalfYear Ended | For the HalfYear endedSept 30, 2019 Sept 30, 2018 | F"'::3°"Mglrl'ch 31'2019 | For the HalfYear EndedSept 30, 2019 | For the HalfYear endedSept 30, 2018 | "353°"March31'2019 |
| A. Cash flow from operating activities | ||||||
| Profit before tax | (26.43) | 965.74 | 3,085.98 | (22.04) | 965.57 | 3,076.04 |
| Adiustments (or: | ||||||
| Share of(profit)/loss ofjoint ventures | - | — | - | (4.39) | 0.17 | 9.93 |
| Depreciation and amortisation (including exceptional item) | 379.41 | 355.74 | 723.24 | 379.41 | 355.74 | 723.24 |
| Provision for impairmentoffixed assets and intangibles | ||||||
| Profit on sale of property, plant and equipments | (2.68) | - | (2.95) | (2.68) | - | (2.95) |
| Profit on sale of investment | - | 6.27 | (4.74) | - | 6.27 | (4.74) |
| Dividend income fromcurrent investments | (91.83) | (83.70) | (129.36) | (91.83) | (83.70) | (129.36) |
| Fair value changes of current investments | (30.19) | 2.60 | (20.10) | (30.19) | 2.60 | (20.10) |
| Interest income fromfinancial assets at arnortised costChange in Finance Cost | (7.13) | 16.93 | (566.78) | (7.13) | 16.93 | (56678) |
| Fair value changes in derivative instrument | 77.83 | 106.57 | 283.59 | 77.83 | 106.57 | 283.59 |
| Fair value changes in non-current investments | (13.59) | 1.52 | 0.51 | (13.59) | 1.52 | 0.51 |
| Remeasurements ofdefined benefit plans | -- | (1,269.66)16.23 | (1,269.66) | - | (1,269.66)16.23 | (1,269.66) |
| Provision for doubtfultrade and other receivables, loans and advances | - | (1.44)4.22 | - | (1.44)4.22 | ||
| 311.82 | -(847.50) | (983.47) | -307.43 | - | ||
| Operatingprofit/ (loss) before working capital changes | 285.38 | 118.24 | 2,102.51 | 285.38 | (847.32)118.24 | (973.54)2,102.51 |
| Changes in workinv capital: | ||||||
| (Increase) / Decrease in inventories | (654.04) | (2,251.66) | (385.42) | (654.04) | (2,251.66) | (385.42) |
| (Increase) / Decrease in nade receivables | 1,574.40 | 2,067.22 | 869.92 | 1,574.40 | 2,067.22 | 869.92 |
| (Increase) / Decrease in other bank balances | 0.06 | (0.54) | (2.06) | 0.06 | (0.54) | (2.06) |
| (Increase) / Decrease in current loans | (11.31) | (0.97) | 4.49 | (11.31) | (0.97) | 4.49 |
| (Increase) / Decrease in other current financial asset | 845.86 | (145.33) | (957.67) | 845.86 | (145.33) | (957.67) |
| (Increase) / Decrease in other current assets | (171.63) | (548.94) | 665.74 | (171.63) | (548.94) | 665.74 |
| (Increase) / Decrease in non-current loans | (8.21) | (0.79) | (2.67) | (8.21) | (0.79) | (2.67) |
| (Increase) / Decrease in other non-current assets | - | - | (19.85) | - | - | (19.85) |
| Increase / (Decrease) in trade payables | (438.48) | (1,236.25) | (1,781.48) | (438.48) | (1,236.25) | (1,781.48) |
| Increase / (Decrease) in current other financial liabilities | 203.48 | 157.81 | 200.92 | 203.48 | 157.81 | 200.92 |
| Increase / (Decrease) in other current liabilities | 1,516.79 | 1,026.59 | 239.03 | 1,516.79 | 1,026.59 | 239.03 |
| Increase / (Decrease)in short—term provision | 0.00 | 17.96 | (34.06) | 0.00 | 17.96 | (34.06) |
| Increase I (Decrease)in long-termprovision | - | (25.48) | (38.63) | - | (25.48) | (38.63) |
| Cash generated from operations | 3,142.30 | (822.13) | 860.77 | 3,142.30 | (822.13) | 860.77 |
| Net income tax (paid) / refunds | (293.64) | (46.15) | (283.45) | (288.90) | (46.15) | (283.45) |
| MAT Credit utlised | - | 20.94 | - | 20.94 | ||
| Net cash flow from I (used in) operatingactivities | 2,848.66 | (868.28) | 598.26 | 2,853.40 | (868.28) | 598.26 |
| B. Cash flow from investing activities | ||||||
| Capital expenditure on property plant and equipment | (116.37) | (84.52) | (1,597.97) | (116.37) | (84.52) | (1,597.97) |
| Expenditure on intangibles(including capital advance) | (15.63) | (531.33) | (531.33) | (15.63) | (531.33) | (531.33) |
| Proceeds from sale of property plant and equipment | 2.68 | - | 2.95 | 2.68 | - | 2.95 |
| Investment in joint ventures | - | - | (65.00) | - | - | (65.00) |
| Defiered Tax Expenses | 113.66 | (293.30) | I 13.66 | (293.30) | ||
| Sale ofinvestment Non Current Investment | - | 1,575.16 | 1,575.16 | - | 1,575.16 | 1,575.16 |
| Net sale I (purchase) of current investments | (2,922.85) | (1,262.12) | (13.89) | (2,927.59) | (1,262.12) | (13.89) |
| Interest received | 7.13 | 16.93 | 566.78 | 7.13 | 16.93 | 566.78 |
| Dividend received | 91.83 | 83.70 | 129.36 | 91.83 | 83.70 | 129.36 |
| Net cash flow from /(used in) investing activities | (2,839.55) | (495.48) | 66.05 | (2,844.29) | (495.48) | 66.05 |
| C. Cash flow from financing activities | ||||||
| Change in Finance Cost | (77.83) | (106.57) | (283.59) | (77.83) | (106.57) | (283.59) |
| Fair value changesin derivative instrument | 13.59 | (1.52) | (0.51) | 13.59 | (1.52) | (0.51) |
| Interimdividend | (638.05) | (638.05) | - | (638.05) | (638.05) | |
| Taxoninterimdividend | - | (131.15) | (131.15) | - | (131.15) | (131.15) |
| Borrowings/ (Repayment) (Net) | 423.65 | 2,326.16 | 535.64 | 423.65 | 2,326.16 | 535.64 |
| Net cash flow from / (used in) financing activities | 359.41 | 1,448.86 | (517.66) | 359.41 | 1,448.86 | (517.66) |
| Net increase / (decrease) in Cash and cash equivalents | 368.53 | 85.11 | 146.65 | 368.53 | 85.11 | 146.65 |
| Cash and cash equivalents at the beginning ofthe year | 216.47 | 69.82 | 69.82 | 216.47 | 69.82 | 69.83 |
| Cash and cash equivalents at the end of the year | 585.00 | 154.92 | 216.47 | 585.00 | 154.92 | 216.47 |


For and on behalfofthe Board of Kabra Extrusiontechnik Limited
4
S. V. 8 .w{.94 MR».
Chairman & Managing Director

Chartered Accountants

@r
LIMITED REVIEWREPORT
Independent Auditor's Review Report to the Board of Directors of Kabra Extrusiontechnik Ltd. on the StandaloneUnaudited Financial Results.
We have reviewed the accompanying statement of unaudited financial results of M/s. Kabra Extrusiontechnik Limited for the quarter ended 30th September 2019 and year to date for the period from 01st April 2019 to 30th September 2019 ("the Statement") being submitted by Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Circular No. CIR/ CFD/CMD1/ 80 /2019.
The preparation of the statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standards 34 -"Interim Financial Reporting" (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2013, is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these statements based on our review.
We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by 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 whetherthe 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.
Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement has not been prepared in all material respect in accordance with applicable Accounting Standards i.e.. Ind AS prescribed u/s 133 of the
Companies Act, 2013 read with relevant rules issued there under and other recognized accounting practices and policies generally accepted in India, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/ CMD1/ 80 /2019 dated July 19, 2019, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For W5. A. G. OGALE & CO.
Chartered Accountants
(Partner)
MembershipNo. : 113775
UDIN: 19113775AAAAFM6612
Pune,
November 09, 2019
Ganesh Prasad, 365/38, Ekbote Colony, Shankarsheth Road, Pune 411 042. Contact : 94 220 320 49 Mail : [email protected]

l
Chartered Accountants
LIMITED REVIEW REPORT
Independent Auditor's Review Report to the Board of Directors of Kabra Extrusiontechnik Ltd. on the ConsolidatedUnaudited Financial Results.
-
We have reviewed the accompanying statement of Consolidated Unaudited Financial results of M/s. Kabra Extrusiontechnik Limited ("the Group") and its share of the net profit/ (loss) after tax and total comprehensive income/ loss of its associates and joint ventures for the quarter ended 30th September 2019 and year to date for the period from 01st April 2019 to 30m September 2019 ("the Statement") being submitted by Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Circular No. CIR/ CFD/CMD1/ 80 /2019. Attention is drawn to the fact that the Consolidated figures for the corresponding quarter 30th September,2019 as reported in these financial results have been approved by the Group's Board of Directors, but have not been subjected to review.
-
The preparation of the statement in accordance with the recognition and measurement principles laid down in hidian Accounting Standards 34 -"Interim Financial Reporting" (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2013, is the responsibility of the Group's Management and has been approved by the Parent's Board of Directors. Our responsibility is to issue a report on these statements based on our review.
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We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by 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 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.
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) Regulation 2015, as amended, to the extent applicable.
- The Statement includes the share of the following entities :
Jointly controlledEntities :
a. Kabra Mecanor Belling Technik Private Limited.
b. Penta Auto Feeding India Limited.
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Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement has not been prepared in all material respect in accordance with applicable Accounting Standards i.e. Ind AS prescribed u/s 133 of the Companies Act, 2013 read with relevant rules issued there under and other recognized accounting practices and policies generally accepted in India, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. ClR/ CFD/CMD1/ 80 /2019 dated July 19, 2019, including the manner in which it is to be disclosed, or that it contains any material misstatement.
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The consolidated unaudited financial results includes the Group's share of net profit after tax of Rs.4.39 lakhs for the quarter ended 30'" September ,2019 as considered in the consolidated unaudited financial results, in respect of Joint Ventures whose interim Financial statements have been certified by the Management, as these are not material for the group as per Regulation 33(3)(h) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Our Conclusion on the statement, in so far as it relates to the amounts and disclosures included in respect of these joint ventures, is based solely on the statements provided by the Management.
Our conclusion on the statement is not modified in respect of the above matters.
For W5. A. G. OGALE & CO. Charte ed Accountants
. . MembershipNo. \W/ "J . 113775 - '23?!qu tib/ UDIN: 19113775AAAAFN8004 "'
Pune, November 09, 2019

Ganesh Prasad, 365/38, Ekbote Colony, Shankarsheth Road, Pune 411 042. Contact : 94 220 320 49 Mail : [email protected]