Kilburn Engineering Ltd — Interim / Quarterly Report 2021

Nov 11, 2021

KILBURN ENGINEERING LIMITED

Registered Office : Four Mangoe Lane, Surendra Mohan Ghosh Sarani, Kolkata - 700 001 CIN: L24232WB1987PLC042956, Tel No: 033 22313337, Fax No: 033-22314768, Website: www.kilburnengg.com

STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2021

							₹ in Lakhs
Sr. no.	PARTICULARS	QUARTER ENDED (UNAUDITED)	QUARTER ENDED (UNAUDITED)	QUARTER ENDED (UNAUDITED)	HALF YEAR ENDED (UNAUDITED)	HALF YEAR ENDED (UNAUDITED)	YEAR ENDED (AUDITED)
		30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
1	Income
	a. Revenue from Operations	2,294	1,892	1,384	4,186	2,453	8,841
	b. Other Income	13	49	283	62	577	949
	Total Income	2,307	1,941	1,667	4,248	3,030	9,790
2	Expenses
	a. Cost of Materials Consumed	1,254	717	889	1,971	1,226	4,098
	b. Subcontracting Charges	259	209	116	468	193	831
	c. Changes in Inventories of Finished Goods and Work in
	Progress	(117)	55	(51)	(62)	(115)	47
	d. Employee Benefits Expense	380	370	381	750	769	1,561
	e. Finance Costs	235	227	333	462	666	1,133
	f. Depreciation and Amortisation Expenses	69	67	101	136	201	402
	g. Other Expenses	400	360	264	760	484	1,610
	Total Expenses	2,480	2,005	2,033	4,485	3,424	9,682
3	Profit / (Loss) before Exceptional Loss and Tax (1-2)	(173)	(64)	(366)	(237)	(394)	108
4	Exceptional Loss	-	-	-	-	-	12,689
5	Profit / (Loss) before Tax (3-4)	(173)	(64)	(366)	(237)	(394)	(12,581)
6	Tax Expense
	i) Current Tax	-	-	-	0	-	-
	ii) Deferred Tax	4	3	35	7	32	(3,411)
	Total Tax Expenses	4	3	35	7	32	(3,411)
7	Net Profit / (Loss) for the Period/ Year (5-6)	(177)	(67)	(401)	(243)	(426)	(9,170)
8	Other Comprehensive Income / (Loss)
a. b.	Items that will not be reclassified to Profit or Loss	209	127	170	336	290	650
	Items that will be reclassified to Profit or Loss	-	-	-	-	-	-
9	Other Comprehensive Income / (Loss), net of tax Total Comprehensive Income / (Loss) for the Period/Year (7+8)	209 32	127 60	170 (231)	336 92	290 (136)	650 (8,520)
	10 Paid-up Equity Share Capital (Face Value ₹ 10 each)	2,821	2,821	1,326	1,326	1,326	2,821
	11 Reserves excluding Revaluation Reserve					2,043	1,952
	12 Earnings Per Share (EPS) (in ₹) (not annualised for the quarters)
	Basic and Diluted EPS (in ₹)	(0.63)	(0.24)	(3.02)	(0.86)	(3.22)	(68.75)

Also refer accompanying notes to the Financial Results.

Digitally TARUN signed by TARUN GANES GANESHI LAL JAIN HI LAL Date: 2021.11.11 JAIN 13:34:40	MANMO HAN SINGH	Digitally signed by MANMOHAN SINGH Date: 2021.11.11 13:24:35 +05'30'
+05'30'

NOTES:

1 The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meeting held on 11th November, 2021.

2 The Company has recognised deferred tax assets amounting to Rs. 3,420 Lakhs as on 30th September, 2021 (Rs. 3,427 Lakhs as on 31st March, 2021). The management believes that there will be adequate future taxable profits available against which the deferred tax assets can be utilised.

• 3 The Company has taken into account all the possible impacts of COVID-19 in preparation for these financial results. The Company has evaluated its liquidity position, recoverability and carrying value of its Non-current and Current assets and has concluded that no material adjustments are required currently at this stage. The Company will continue to monitor future economic conditions and their consequent impact on the business operations, given the uncertain nature of the pandemic.
• 4 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the Company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on 13th November, 2020 and has invited suggestions from the stakeholders which are under active consideration by the Ministry. The Company will assess the impact, once the subject rules are notified and will give appropriate impact in its financial results in the period in which, the Code become effective.
• 5 In line with the provisions of Ind AS 108 - Operating Segments, Chief Operating Decision Maker (CODM) reviews the operations of the Company as the manufacturer of Engineering Products, which is considered to be the only reportable segment by the management. Accordingly, no separate disclosure of segment information has been made.
• 6 The Company's operations and its results vary from period to period, depending on the delivery schedule of the customers.
• 7 Previous period figures have been regrouped / rearranged wherever necessary, to correspond with those of the current period classification.

	TARUN by TARUN GANES GANESHI LAL	Digitally signed MANMOH Digitally signed by MANMOHAN SINGH AN SINGH Date: 2021.11.11 12:55:35 +05'30'
Date : 11 November 2021 Place : Kolkata	JAIN HI LAL Date: 2021.11.11 JAIN	Manmohan Singh Chairman 13:35:04 +05'30' (DIN 00699314)

By Order of the Board

KILBURN ENGINEERING LIMITED

STATEMENT OF ASSETS AND LIABILITIES AS ON 30 SEPTEMBER 2021

	₹ in Lakhs
Sr. No.	PARTICULARS	AS AT 30 SEPTEMBER 2021	AS AT 31 MARCH 2021
		Unaudited	Audited
A	ASSETS
	1. Non-Current Assets
	(a) Property, Plant and Equipment	4,348	4,464
	(b) Intangible Assets	8	11
	(c) Financial Assets
	- Investments	1,151	813
	- Other Financial Assets	58	20
	(d) Income Tax Assets (Net)	285	280
	(e) Deferred Tax Assets (Net)	3,420	3,427
	(f) Other Non-Current Assets	62	49
	Total Non-Current Assets	9,332	9,064
	2. Current Assets (a) Inventories	937	818
	(b) Financial Assets
	- Trade Receivables	2,621	4,191
	- Cash and Cash Equivalents	521	937
	- Bank Balance other than included in Cash and
	Cash Equivalents above	339	364
	- Other Financial Assets	41	34
	(c) Contract Assets	4,566	4,019
	(d) Other Current Assets	1,094	701
	Total Current Assets	10,119	11,064
	TOTAL ASSETS	19,451	20,128
B	EQUITY AND LIABILITIES
	1. Equity
	(a) Equity Share Capital	2,821	2,821
	(b) Other Equity	2,043	1,952
	Total Equity	4,864	4,773
	2. Non-Current Liabilities
	(a) Financial Liabilities
	- Borrowings	6,467	6,527
	- Other Financial Liabilities	1,211	1,211
	Total Non-Current Liabilities	7,678	7,738
	3. Current Liabilities
	(a) Financial Liabilities
	- Borrowings	1,999	2,058
	- Trade Payables
	a) total outstanding dues of micro enterprises and small enterprises	82	71
	b) total outstanding dues of creditors other than micro enterprises	2,126	2,113
	and small enterprises
	- Other Financial Liabilities	19	19
	(b) Contract Liabilities	2,496	3,169
	(c) Other Current Liabilities (d) Provisions	113 74	111 76
	Total Current Liabilities	6,909	7,617
	TOTAL - EQUITY AND LIABILITIES	19,451	20,128
		Digitally	By Order of the Board
		TARUN signed by TARUN	Digitally signed by MANMOH MANMOHAN SINGH
		GANES GANESHI LAL	Date: 2021.11.11 AN SINGH 12:56:59 +05'30'
		JAIN HI LAL Date:	Manmohan Singh
	Date : 11th November, 2021	2021.11.11 13:35:26	Chairman
	JAIN Place : Kolkata	+05'30'	(DIN 00699314)

Kilburn Engineering Limited
Statement of Cash Flows for the half year ended 30 September 2021
			₹ in Lakhs
	For Half Year ended	For Half Year ended	For the Year ended
	30 September 2021	30 September 2020	31 March 2021
	Unaudited	Unaudited	Audited
Cash Flows from Operating Activities :
Profit /(loss) before Tax and after Exceptional Loss	(237)	(394)	(12,581)
Adjustments to reconcile profit/(loss) before tax to net cash flows:
Depreciation and Amortisation Expense	136	201	402
Foreign Exchange (Gain)/Loss (net)	(16)	16	9
Finance Costs	462	666	1,133
Bad debts written off	1	(0)	66
Provision for loss allowance	(35)	-	23
Provision against Inter Corporate Deposits given	-	-	9,950
Accured Interest written off	-	-	2,739
Liabilities / Provisions no longer required written back	(1)	(46)	(131)
Interest Income	(10)	(546)	(817)
Operating Profit/(Loss) before Working Capital changes	300	(104)	793
Working capital adjustments:
(Increase)/decrease in Contract Assets and Other Financial Assets	(556)	970	(262)
(Increase)/decrease in Trade Receivables	1,619	156	(1,057)
(Increase)/decrease in Inventories	(119)	(193)	291
(Increase)/decrease in Other Assets	(406)	(34)	102
(Increase)/decrease in Loans	-	24	22
Increase /(decrease) in Trade Payables Increase /(decrease) in Provisions	24 1	(693) 63	(17) 21
Increase /(decrease) in Contract Liabilities and Other Liabilities	(671)	(143)	606
Cash Generated from / (used in) Operations	192	46	500
Income Tax Paid (net of refunds)	(4)	75	(6)
Net Cash Flows from / (used in) Operating Activities (A)	188	121	494
Cash Flows from Investing Activities :
Purchase of Property, Plant and Equipment (including Intangible Assets)	(17)	(2)	(19)
Net Bank Balances not considered as Cash and Cash equivalents	(18)	(52)	(75)
Inter-Corporate Deposit Received Back	-	-	841
Interest Income Received	11	95	30
Net Cash Flows from / (used in) Investing Activities (B)	(24)	41	777
Cash Flows from Financing Activities :
Finance Costs Paid	(456)	(154)	(386)
Proceeds from Issue of Equity Shares Payment for Cumulative Redeemable Preference Shares	- -	- -	1,640 (1,000)
Expenses Incurred on Restructuring	-	-	(152)
Repayment of Long Term Borrowings	-	(19)	(37)
Proceeds from Short Term Borrowings	-	267	-
Repayment of Short Term Borrowings	-	(80)	(807)
Increase / (decrease) in Working Capital Borrowings (net)	4	-	(100)
Net cash flows from / (used in) Financing Activities (C)	(452 )	14	(842)
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)	(288)	177	429
Cash and Cash Equivalents at the beginning of the year	773	344	344
Cash and Cash Equivalents at the end of the year	485	521	773
Components of Cash and Cash Equivalents :
Balances with banks - On Current Accounts	520	599	935
- Cash on hand	1	3	1
Less : Bank Overdraft	36	81	164
Total Cash and Cash Equivalents at the end of the year	485	521	773
The Statement of Cash Flows has been prepared under the indirect method as set out in Indian Accounting Standard (Ind AS 7) Statement of Cash Flows.
			By Order of the Board
		TARUN Digitally signed by TARUN	MANMOH Digitally signed by
		GANES GANESHI LAL	MANMOHAN SINGH Date: 2021.11.11 AN SINGH
		JAIN Date:	12:57:30 +05'30'
		HI LAL 2021.11.11	Manmohan Singh
Date : 11th November, 2021		13:35:50 JAIN +05'30'	Chairman
Place : Kolkata			(DIN 00699314)

V. SINGHI & ASSOCIATES Chartered Accountants 61, 6th Floor, Sakhar Bhavan 230, Nariman Point, Mumbai 400 021 Phone: +91 22 6250 1800 E-Mail: mumbai@vsinghi.com

INDEPENDENT AUDITOR'S REVIEW REPORT ON THE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER, 2021

Review Report to The Board of Directors Kilburn Engineering Limited Four Mangoe Lane Surendra Mohan Ghosh Sarani Kolkata - 700001

• 1. We have reviewed the accompanying Statement of Unaudited Financial Results of Kilburn Engineering Limited (the "Company") for the quarter and half year ended 30th September, 2021 (the "Statement").
• 1. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34") prescribed under section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of the Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Bengaluru | Delhi | Guwahati | Hyderabad | Jaipur | Kolkata | Mumbai

4. Emphasis of Matter

Management's assessment of impact of COVID-19

We draw attention to Note 3 of the Statement which describes the management's assessment of impact of COVID-19, a global pandemic, on the financial position/matters of the Company.

Our conclusion is not modified in respect of the above matter.

5. Conclusion

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 aforesaid Indian Accounting Standards and other recognised accounting practices and policies and has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For V. Singhi & Associates Chartered Accountants Firm Registration No.: 311017E

TARUN GANESHI LAL JAIN

Digitally signed by TARUN GANESHI LAL JAIN Date: 2021.11.11 13:31:09 +05'30'

(TARUN JAIN) Place: Kolkata Partner Date: 11th November, 2021 Membership No.: 130109 UDIN: 21130109AAAAFL7143