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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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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
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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.

  1. 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.

  2. 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.

  3. 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.

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

Jointly controlledEntities :

a. Kabra Mecanor Belling Technik Private Limited.

b. Penta Auto Feeding India Limited.

  1. 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.

  2. 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]