Kabra Extrusion Technik Ltd — Interim / Quarterly Report 2019

Jan 31, 2019

January 31, 2019

KET/SEC/SE/2018-19

To, BSE Limited Floor 25, Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai - 400 001

Scrip Code: 524109

Dear Sirs,

Listing Compliance, National Stock Exchange India Limited, Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (East), Mumbai-400051. Stock Code: KABRAEXTRU

Sub: Outcome of Board Meeting of the Company held on January 31, 2019

In continuation to our letter dated January 16, 2019 and in terms of the provisions of Regulations 30 and Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we wish to inform that Board of Directors of the Company at its meeting held today, inter alia, considered and approved the following matters:

• 1. Unaudited Financial Results for the Quarter and nine months ended December 31, 2018, a copy whereof along with Limited review report is enclosed herewith as Annexure - 1.
• 1. Re-appointment of Mr. S. V. Kabra as Chairman & Managing Director w.e.f April 01, 2019 for a period of 5 years, subject to approval by the members of the Company by special resolution. The information thereof pursuant to SEBI Circular no. CIR/CFD/CMD/4/2015 is annexed herewith as Annexure - 2.
• 1. 'Code of Conduct to regulate, monitor and report trading by its designated persons and immediate relatives of designated persons' and 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information', as amended in terms of the SEBI (Prohibition of Insider Trading) (Amendment) Regulations 2018. Copy of Code of Practices and Procedures for Fair Disclosure is annexed herewith as Annexure - 3.
• 1. Payment upon receipt of offer letter for allotment of land at MIDC Chakan, Pune for setting up of new manufacturing facility for lithium ion based advanced Battery packs with Battery Management System (BMS) used in all types of Electric Vehicles (EVs) and energy storage systems, with estimated Capex upto Rs. 100 Crore in Phase I towards land & building, plant & machinery, technology, research & development, etc.

The meeting concluded at 06:40 p.m. Kindly take our above submission on your record.

Thanking you, Yours faithfully, For Kabra Extrusiontechnik Ltd.

Arya K. Chachad Company Secretary

www.kolsite.eggl: As above

A Kolsite Group Company

A Collaboration With

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE OUARTER AND NINE MONTHS ENDED 31st DECEMBER 2018

	(Rupees in lakhs)
Sr.	Particulars	Ouarter Ended			Nine Months Ended		Year Ended
No.		31-DEC-18'	30-SEP-18	31-DEC-17	31-DEC-18	31-DEC-17	31-MAR-18
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	REVENUE
$\mathbf{I}$	Revenue from operations	5,558,26	4,656.11	6,599.01	14,587.65	16,862.28	27,146.66
$\mathbf{I}$	Other Income	42.66	1,345.54	85.79	1,421.82	199.93	257.01
III	Total revenue $(I + II)$	5,600.92	6,001.65	6,684.80	16,009.47	17,062.20	27,403.67
IV	EXPENSES
	Cost of material consumed	3,561.18	3,217.82	4,808.61	11.110.24	12,087.92	17,834.82
	Changes in inventories of finished goods & work in progress	(91.00)	(430.05)	(598.94)	(2,048.75)	(1, 579.58)	(1, 101.11)
	Excise Duty					334.09	334.09
	Employee benefit expense	832.82	860.05	806.69	2,564.31	2,477.52	3,440.81
	Finance Cost	70.76	65.22	47.26	178.86	114.93	147.82
	Depreciation and amortisation expense	176.57	175.96	219.66	532.31	602.29	793.40
	Other Expenses	935.36	910.68	927.32	2,591.54	2,691.91	3,819.57
	Total expenses (IV)	5,485.70	4,799.68	6,210.58	14,928.51	16,729.10	25,269.41
V	Profit/(Loss) before exceptional items & tax (III - IV)	115.22	1,201.97	474.22	1,080.96	333.10	2,134.26
VI	Exceptional items	$\ddot{\phantom{1}}$
VII	Profit/(Loss) before tax (V - VI)	115.22	1,201.97	474.22	1,080.96	333.10	2,134.26
VIII	Tax expenses
	Current Tax			19.00	Ŵ	19.00	499.07
	MAT Credit entitlement						(383.95)
	Deferred Tax	(20.81)	293.33	14.25	272.49	(12.02)	7.38
IX	Profit/(Loss) for the period (VII - VIII)	136.02	908.63	440.97	808.47	326.12	2,011.77
$\mathbf x$	Other Comprehensive Income
	i) Items that will not be reclassified to profit or loss	(673.07)	(63.84)	250.64	(585.50)	130.63	(539.20)
	ii) Income tax relating to items that will not be reclassified to profit or loss		(21.37)		(21.37)		0.77
XI	Total Comprehensive Income for the period $(IX + X)$ (Comprising Profit
	(Loss) and Other Comprehensive Income for the period)	(537.05)	823.42	691.60	201.60	456.74	1,473.34
XII	Paid up Equity Share Capital	1,595.12	1,595.12	1,595.12	1,595.12	1,595.12	1,595.12
	(Face Value of Rs. 5/- each)
XIII	Earning per equity share basic and diluted but not annualized (forcontinuing operations)	0.43	2.85	1.38	2.53	1.02	6.31

Notes

1 The above Results have been reviewed and recommended by the Audit Committee & approved by the Board of Directors at its Meeting held on 31st January 2019. Revenue from operations for nine months ended 31st December, 2018 is not comparable with nine momths ended 31st December, 2017 since current nine months ended 31st $\sqrt{2}$ December 2018 is net of GST, whereas previous period revenue is inclusive of excise duty. Revenue from operations excluding excise is as below:

Particulars	Nine MonthDec'17	Nine MonthDec'18
Revenue from Operations including excise duty	16.862.28	14.587.65
Less - Excise duty	334 09
Revenue from Operations net of excise duty	16,528.18	14,587.65

$\overline{\mathbf{3}}$ Provision for warranty will be ascertained at the end of Financial year.

$\overline{4}$ The company opereates in single segment. i.e. Plastic Extrusion Machinery and allied Equipments.

The Company would be consolidating and presenting its Consolidated Financial Statement at the end of the year (i.e. 31st March, 2019). $\mathsf{S}$

During the quarter ended 30th September, 2018, company has sold it's investment in Shares of BW-PTI Holdings Inc (erstwhile Gloucester Engineering Co. Inc). Impact of $\boldsymbol{6}$ Gain/(Loss) has been accounted in Other Income & OCI.

Date: 31st January, 2019 Place: Mumbai

for and on behalf of Board of
	Kabra Extrusiontechnik Limited

$\alpha^{w}$ S. V. Kabra Chairman & Managing Director

www.kolsite.com	A Kolsite Group Company
Kabra Extrusiontechnik LimitedFortune Terraces, B wing, 10th Floor, Link Road, Opp. Citi Mall,Andheri (West), Mumbai- 400 053. Maharashtra, India.Phone: +91-22-2673 4822/23/24/25 · Fax: +91-22-2673 5041 · Email: sales@kolsitegroup.comGSTIN: 27AAACK4289L2Z1	A Collaboration With
Works 1Kabra Industrial Estate, Kachigam, Daman-396210. IndiaWorks 2	battenfeld-cincinnati
Survey No. 259/1 to 5 260/1 to 6, 265/3, Coastal Highway, Dunetha, Daman-396210. India.Tel.: +91-8511152180/8511152152/07227035211 · E-mail : ket@kolsitegroup.comWorks 1 & 2 GSTIN: 25AAACK4289L1Z6 / CIN-L28900MH1982PLC028535

KIRTANE $\mathcal{S}$ PANDIT

Limited Review Report for Quarter and Nine Months Ended December 31, 2018 on Standalone Financial Results

To the Board of Directors of Kabra Extrusiontechnik Limited

1. We have reviewed the accompanying statement of unaudited Ind AS financial results ('the Statement') of Kabra Extrusiontechnik Limited ('the Company') for the quarter and nine months ended December 31, 2018 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 ('the Regulation'), read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 ('the Circular').

The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS), 34 "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015, as amended, read with the Circular is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to express a conclusion on the Statement based on our review.

• 1. We conducted our review 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 Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial Statement is free of material misstatement. A review is limited primarily to inquiries of the Company personnel and analytical procedure 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.
• 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 the applicable Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Kirtane & Pandit LLP Chartered Accountants Firm Registration No.105215W/W100057

Parag Pansare Partner Membership No.: 117309 Pune, January 31, 2019

Kirtane & Pandit LLP - Chartered Accountants Pune | Mumbai | Nashik | Bangaluru | Hyderabad

Annexure - 2

Disclosure of events and information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular no. CIR/CFD/CMD/4/2015 dated 09th September, 2015 regarding changes in Directors, Key Managerial Personnel (Chief Financial Officer & Company Secretary etc.), and Compliance Officer:

Name of Director/ Key ManagerialPersonnel	Mr. Shreevallabh G. Kabra
Reason for change viz. appointment,resignation, removal, death or otherwise	Re-appointment as Chairman & ManagingDirector (KMP) w.e.f. 01.04.2019
Date of Appointment / cessation (asapplicable) & term of appointment	April 01, 2019Term: 5 years
Brief profile(in case of appointment)	B. A. (Hons).$\bullet$Extensive experience of plastic industry$\bullet$and promoter of Kolsite Group ofIndustries.Management and control of industry andbusiness.
Disclosure of relationships between directors(in case of appointment of director)	Related to Mr. S. N. Kabra (Brother), Mr.Anand S. Kabra (Son) & Mrs. Ekta A. Kabra(Daughter in Law)

For Kabra Extrusiontechnik Ltd.

Arya K. Chachad Company Secretary

$ANNEXURE-3$

Kabra ExtrusionTechnik Limited

Fortune Terraces, 10th Floor, B Wing, Opp. Citi Mall, Link Road, Andheri (West), Mumbai - 400053 Tel: +91-22-26734822-25 Fax No: +91-22-26735041 Email: ket_sd@kolsitegroup.com website: www.kolsite.com CIN: L28900MH1951PLC028535

CODE OF PRACTICES AND PROCEDURES FOR FAIR DISCLOSURE OF UNPUBLISHED PRICE SENSITIVE INFORMATION

Background

Pursuant to 8(1) of the Chapter IV of the Securities and Exchange Board of India (SEBI) (Prohibition of Insider Trading) Regulations, 2015 and SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018 (hereinafter referred as "SEBI PIT Regulations") the Board of Directors of Kabra Extrusiontechnik Limited ("KET") has formulated this Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information ("Code of Fair Disclosure").

Objective

The Company strives to ensure high professional and ethical standards in all the business activities with a view to the best interest of KET and its stakeholders. This Code intends to formulate a standard framework for fair disclosure of unpublished price sensitive information (UPSI), preserve the confidentiality of UPSI and to prevent trading based on UPSI.

Terms and Definitions

Words and expressions used but not defined in this Fair Disclosure Code shall have the same meaning assigned to them in the SEBI PIT Regulations or the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Depositories Act, 1996 or the Companies Act, 2013 and the rules and regulations made thereunder, as the case may be or in any amendment thereto.

Principles of Fair Disclosure

The Company in compliance of SEBI PIT Regulations shall follow the practices and procedures laid down herein below to make fair disclosure of events and occurrence that could impact price of its equity shares on the floor of Stock Exchanges:

1. The Company shall ensure to make prompt public disclosure of unpublished price sensitive information that would impact price discovery no sooner than credible and concrete information comes into being, to make such information generally available.

• The Company shall ensure to make Uniform and universal dissemination of $2.$ unpublished price sensitive information to avoid selective disclosure.
• The Company Secretary / Compliance Officer of the Company shall act as the 3. Chief Investor Relations Officer to deal with dissemination of information and disclosure of unpublished price sensitive information.
• The Company shall make prompt dissemination of unpublished price sensitive 4. information that gets disclosed selectively, inadvertently or otherwise to make such information generally available.
• 1. The Company shall provide appropriate and fair response to queries on news reports and requests for verification of market rumours by regulatory authorities.
• The Company will ensure that, information if any, shared with analysts and 6. research personnel, if any, is not unpublished price sensitive information.
• 1. The Company shall develop and follow best practices to make transcripts or records of proceedings of meetings with analysts and other investor relations conferences on the official website to ensure official confirmation and documentation of disclosures made.
• 1. The Company shall handle all unpublished price sensitive information on a need-to-know basis in furtherance of legitimate purposes, performance of duties or discharge of legal obligations.

Policy for determination of "Legitimate Purposes"

• 1. Sharing of unpublished price sensitive information in the course of business by an insider with partners, collaborators, lenders, customers, suppliers, merchant bankers, legal advisors, auditors, insolvency professionals, other advisors or consultants shall be considered as "legitimate purposes" provided that such sharing has not been carried out to evade or circumvent the prohibitions of the SEBI PIT Regulations.
• 1. Any person in receipt of unpublished price sensitive information pursuant to a legitimate purpose shall be considered an "insider" for purposes of the SEBI PIT Regulations and due notice shall be given to such person to maintain confidentiality of such unpublished price sensitive information in compliance with the said Regulations. Such person is also required to ensure the confidentiality of unpublished price sensitive information shared with him / her, in compliance with the SEBI PIT Regulations.
• 1. Unpublished Price Sensitive Information, such as Financial Results, declaration of Dividends, proposal of Corporate Restructuring, diversification, expansion acquisition in the stake of other entities, etc. shall be handled within the Company on a need-to-know basis, and the same should be disclosed only to those who need such information to discharge their duties or legal obligations by virtue of their respective role and function, whose possession of such

information will not give rise to a conflict of interest or appearance of misuse of such information.

A structured digital database shall be maintained containing the names of such 12. persons or entities, as the case may be, with whom information is shared for legitimate purposes along with the Permanent Account Number or any other identifier authorized by law where Permanent Account Number is not available. Adequate and effective system of internal controls will also be laid out to secure such database. Documents containing confidential information shall be kept secured. Computer files must have adequate security login and password, etc.

Amendment

The Board of Directors is authorised to amend or modify this Fair Disclosure Code in whole or in part as and when deemed necessary, to stipulate further guidelines, procedures and rules, from time to time, to ensure fair disclosure of unpublished price sensitive information.

Scope and Limitation

In case there are any regulatory changes requiring modifications to this policy, the same shall be reviewed and amended with the approval of the Board of Directors. However, the amendment in the regulatory requirements shall be binding on the Company and prevail over this Policy even if not incorporated in this Policy.

Disclosure of the Code on Public Domain

This Code and every subsequent modification, alteration or amendment made thereto, shall also be intimated to the Stock Exchange where the securities of the Company are listed and also published on the official website of the Company.

(Note: Policy for determination of "Legitimate Purposes" covered under Clauses 9 to 12 of this Code, formulated pursuant to SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018 shall come into effect from April 01, 2019.)

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