KNR Constructions Limited — Interim / Quarterly Report 2018

Nov 12, 2018

Dated 12th ovember 2018 Ref: KNRCL/SD/2018/ 129 & 130

To

To Dept. of Corporate Services, BS E Limited P J Towers, Dalal Street, Fort, MUMBAI - 400001

Fax: +91 - 22- 2272 2037 / 39 / 41 +912222723121/3719/ 1557

ational Stock Exchange of India Limited "Exchange Plaza", Bandra Kurla Complex, Bandra (E), MUMBAI - 400051

Fax: +91- 22- 6641 8124 / 25 / 26 +91 2226598237 / 38, +91 22 2659 8347 / 48

Sir,

Sub: - Proceedings of the Board Meeting as per Regulation 33 Ref:-K R Constructions Limited, BSECode: 532942, NSE Symbol: K RCO

With reference to the above, we wish to inform you that in the just concluded Meeting of the Board of Directors of the Company, inter-aliea considered and approved the Un-audited Financial Results (Standalone) for the Quarter / Half Year ended 30thSeptember 2018, duly reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company, at its meeting held today.

The meeting of the Board of Directors commenced at 12:30 p.m and concluded at 1:30 p.m

We also enclosed a copy of the Limited Review Report of the Auditors of the Company on the Unaudited Financial Results (Standalone) of the Company for the Quarter / Half Year ended 30th September 2018, as required under Regulation 33 of the Listing Regulations.

We hereby declare that the Unaudited Report in respect of Standalone Financial Statements for Quarter Ended 30thSeptember 2018 are unmodified.

*.,en ~*

M. V. VE KATA RAO· Company Secretary

Corp. Office: 'KNR House', 3rd & 4th Floor, Plot No. 114, Phase-I, Kavuri Hills, Hyderabad - 500 033. Phone: +91-40-40268759,40268761/62, Fax: +91-40-40268760, E-mail: info@knrcl.com, Web: www.knrcl.com Regd. Office: C-125, Anand Niketan, New Delhi -110 021. Corporate Identification No. : L74210DL 1995PLC238364

KNR CONSTRUCTIONS LIMITED

CIN: L74210DLl995PLC238364

Regd. Office: C-125, Anand Niketan, New Delhi - 110021 Corp. Office: KNR House. 3rd & 4th Floor, Plot No: 114, Phase-I. Kavuri Hills, Hyderabad - 500 033 Ph: 040 -40268759 161 162 Fax: 040-40268760; website: knrcl.com: E-mail: investors@knrcl.com

STATEMENT OF STANDALONE UNAUDITED FINA ClAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2018

						(Rupees In Lakhs, except share data)
			Quarter ended		Half Year ended		Year ended
SI.	PARTICULARS	Sentember30	June 30	Sentember30	Sentember30	Sentember30	March 31
No.		2018	2018	2017	2018	2017	2018
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I	Revenue from Operations (refer note: 3 and 5)	41,628.94	55,635.89	39,334.23	97,264.83	87,409.02	193,165.45
2.	Other Income	881.20	1.776.33	269.10	2,657.53	1,494.87	3,931.25
3.	Total income (1+2)	42,510.14	57,412.22	39,603.33	99,922.36	88,903.89	197,096.70
4.	Expenses					21.343.71	50,551.47
	a)Cost of materials conswned	16,522.01	13.698A7	11,216.29	30.220A8
	b)Sub contract Expenses	3,935.97	3.987.25	4,508.599,388.78	7,923.22	20,612.97	41,503.33
	c)& AssortmentSpreadingExpenses	5,841.95	18,166.22	1,926.31	24,008.17	17,563.573.406.86	36,489.287.211.60
	d)Employeebenefits expense	2,492.63742.38	1,959.23		4,451.861,461.79		2,314.42
	e)Finance Costs		719AI	425.71	7.52660	945.14
	t)Depreciationand amortizationexpense	3,926.36	3,600.24	2,352.74		4,790.27	13,414.59
	g)Other expenses	4,522.13	6,838.94	4,045.23	11,361.07	7,780.14	18,796.95
	Total Expenses (a to 2)Profit I (loss) before exceptional	37,983.434,526.71	48,969.768,442.46	33,863.65	86,953.1912,969.17	76,442.66	170,281.64
5	items and tax (3 - 4)			5,739.68		12,461.23	26,815.06
6.	Exceptional Items			-		-	-
7.	Profit I (loss) before tax (5 - 6)	4,526.71	8,442.46	5,739.68	12,969.17	12,461.23	26,815.06
8.	Tax Expense
	Current Tax	995.59	1,778AO	1,326.27	2,773.99	2.39788	5,521.61
	Tax relating to earlier years			-		( 17.30)	(19A9)
	MAT credit entitlement	(101.92)	(200.71)	(1,215.38)	(302.63)	(1,912.69)	(3,564.09)
	Deferred Tax	(867.25	(535.52)	(278.22	(1,402.77	(672.28)	(2,332.20)
	Total Tax Exnense	26.42	1,042.17	1167.33	1,068.59	(204.39	(394.17)
9.	Net Profit/(Loss)after tax (7 - 8)	4,500.29	7,400.29	5,907.01	11,900.58	12,665.62	27,209.23
	10. Other Comprehensive Income (OCI) [Net of tax]	(31.63)	(31.64)	IIAO	(63.27)	24.21	(127.20)
II.	Total ComorehensiveIncome (9+101	4,468.66	7,368.65		11,837.31
				5,918.41		12,689.83	27,082.03
	12. Paid up equity share capital (Face Value Rs.2/- per share)	2,812.35	2,812.35	2,812.35	2,812.35	2,812.35	2.812.35
	13. Other Equity						112.970.90
	14. Earnings Per Share (EPS)
	a. Basic EPS Rs.	3.20'	5.26'	4.20'	8.46'	9.01'	19.35
	b. Diluted EPS Rs.	3.20'	5.26'	4.20'	8A6'	9.01'	19.35
	• Not annualised

Notes:

I. The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on November 12, 2018.

1. The above results are in compliance with the Indian Accounting Standards (IND AS) specified under the section 133 of the Companies Act, 2013 read with SEBI circular No. CIR/CFDfF AC/62/20 16 dated July 5, 2016 & amendments thereto and were subject to limited review by the statutory Auditor of the company.

2. The Ministry of Corporate Affairs (MCA), on 28 March 2018, notified Ind AS 115 "Revenue from Contracts with Customers" and the new standard is effective from April 1,2018. Based on the assessment done by the management, the adoption of the standard did not have any material impact on the financial statements of the company during the periods.

3. The company is primarily engaged in "Construction and Engineering activities" and there are no other reportable segments under Ind As [08 "Operating Segments".

4. Revenue from operations for the half year ended September 30,2017 and year ended March 31, 20[8 includes our share of'Rs, 1,681.75 lakhs in the claims received by two joint ventures

September30, 2018(Unaudited)34,209.6260.036,250.1414.741,785.1652,751.72137.50220.7215,815.86940.069614.35121,799.908,414.2113,805.3410,707.415,075.42678.08	March 31, 2018( Audited)33,136.991.756,203.7615.451,765.1649,234.37162.92254.9814,076.48761.348 241.23113,854.437,118.382,561.2923,197.68
	3,706.45
	678.24
1,733.00	2,631.47
18,359.96	15,391.89
	892.69
287.63	26 551.91
25709.8584,770.90	82,730.00
	196584.43
2,812.35	2,812.35
124 130.12	112970.90
126942.47	115783.25
	21,184.50
	827.27
	272.27
488.10	421.77
1324.53	1324.53
25,333.14	24,030.34
17,185.48	21,016.85
	11,712.67
	1,421.10
	22,440.13
	180.09
54,295.19	56,770.84
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	TOTAL ASSETS ==========9===========206570.8022,421.41827.27271.8312,712.381,447.0622,860.2390.04

'Poornima', IInd Floor, 25, State Bank Road, Bangalore - 560 001. Karnataka, India.

K. P. RAO K. VISWANATH DESMOND J. REBELLO H.N. ANIL MOHAN R LAVI

K.P. SIDDHARTH V.NARAYANAN S.PRASHANTH P RAVINDRANATH

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF KNR CONSTRUCTIONS LIMITED

1. We have reviewed the accompanying Statement of standalone unaudited financial results ("the Statement") of KNR Constructions Limited (the 'Company') for the quarter and Half year ended September 30, 2018 being submitted by the Company pursuant to the requirements of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBICircular no CIR/CFD/FAC/62/2016 dated July 5,2016.

The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard for Interim Financial Reporting Ind AS34, prescribed under section 133 of Companies Act, 2013 read with relevant rules issued thereunder, other accounting principles generally accepted in India and SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility to is to express a conclusion on the Statement based on our review.

• 1. We conducted our review in accordance with 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 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.
• 1. The Statement includes the Company's share of loss of Joint operations aggregating Rs. 236.71 lakhs and Rs. 109.77 lakhs for the quarter and half year ended September 30, 2018 respectively, assets of Rs. 2,222.99 lakhs and liabilities of Rs. 64.23 lakhs as at September 30, 2018. These interim financial information have been furnished to us by the management and our review report on this Statement, in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on such interim financial information certified by the Management. According to information and explanation given to us by the management, the interim financial information of these joint operations are not material to the Company.

971 h.: 044- 2490 3137/4551 1564

1. Based on our review, nothing has come to our attention that causes us to believe that the accompanying Statements prepared in accordance with the applicable Indian Accounting Standards and the recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, read with SEBI Circular no CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

HN Ani! Partner Membership Number: 225120

Place: Hyderabad Date: November 12, 2018