KPT INDUSTRIES LIMITED — Annual Report 2020

Jun 30, 2020

Regd. Office & Works : Shirol. Dist. Kolhapur- 416103 Maharashtra (India) Tel. : :C :' =32= eel€Ce

E-mail : kpt.ho@kpt.co.in www.kpt.co.in

CIN - L291 30MH 1 976PLCO1 9147

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KP'TIS t::lCW NOS.:
+ KULKARNI POWER TOOLS LTD
1 1 911:iEBBz2E [KPT ']
Now Known .As :
g
I E:l?l ' l:ldustries Ltd.
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KPT/SECR/STEX/20-21

ww .listing . bseindia .com

30th June, 2020

BSE Limited

Corporate Relationship Department 2nd Floor, New Trading Ring, P.J. Towers, Dalai Street. MUMBAI 400 001

Dear Sir

Sub Audited Financial Results for the Quarter & Year ended on 31st March, 2020

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201 5, we are enclosing herewith the Audited Financial Results for the quarter & year ended on 31st March, 2020.

The said results have been approved & taken on record by the Board of Directors in its meeting held on 30th June, 2020.

The Board Meeting commenced at 1 1 .30 A.M and concluded at 01 ;30 P.M

Thanking you

Yours faithfully, For I(PT Industries Limited

formerly known as Kulkarni P

Aish IQa Toraskar COMPANY SECRETARY & Membership No: A 54931

End :- a/a

INTERNATIONAL BUSINESS DIVISION: Shirol, Diet. Kolhapur - 416103.(India) Tel.: eei04il0000--68iU8 vwvw.tuv.com Fax : := :: =::= :::: := E-mail : export.kpt@kpt.co.in CERTIFIED D 9105025274 CIN - L291 30MH1976PLCO9 1 47

KPT Industries Limited

(Formerly known as Kulkarni Power Tools Limited)

KPT Industries Limited	KPT Industries Limited
(Formerly known as Kulkarni Power Tools Limited) Regd. Office : Shiro1 - 416 103, Diet. Kolhapur				> N		KPT '
Tel:(0231) 2689900 Fax(0231) 2689946
CIN: L291 30MHI 976PLCO1 9147
Part 1 - Standalone audited financial results for the quarter and		year ended on 31st March, 2020
			( Rs. In lakhs QuarterEndedon		except EPS I YearEndedon
Sr. No	Particulars		H !! 31-03-20131=12-19131-03-19 (Audited)I(Un-audited>1(Audited)		131-03-20131-03-19 I(Audited)I(Audited)
I	llncame a) Revenue from operations b) Other Income		2.628.60 21 .32	2.717.94)2.967.09 9.12141.40	llo,s9c.Olllo.s40.14 1129.891 96.21
	Total Income		2,649.92	2,727.0613,008.49	1l0,726.50110,636.35
2	IExpenditure
	a) b) Cost of Materials Consumed Purchase of Stock in Trade		894.08 693.77	735'.14758.87 950.3411,062.81		2.977.67 1 4,058.82 E	2.453.48 3,863.85
	c) Changes in Inventories of Finished Goods, Work in Process and Stock in Trade (83.36)			(43.76) 85.33		(741 .26)	152.45
	d) e) D g) Employees Benefit Expense Finance Cost Depreciation and Amortisation Expense Other Expenses		272.06 166.76 95.42 475.93	282.06 125.25 67.66 468.71 235.40 161 .54 71 .32 520.65		1,134.86 571 .80 298.36 1,943.05	991.16 592.21 303.92 1,928.84
	Total Expenditure		2,514.66	2,585.4012,895.92	110,243.301l0,285.91
3	IProfit/(Loss)Before ExceptionalItems(1-2)		135.26	141.66! 112.57		483.20	350.44
4	IExceptional Item
5	IProfit / ( Lass ) Befare Tax		135.26	141.66 112.57		483.20	350.44
6	ITaxExpense		(41 .71)	41 .30 22.48		(14.46)	(6.22)
7	IProfit/( Loss) forthe period( 5-6 )		176.97	100.36 90.09		497.66	356.66
8	IOther Comprehensive Income/(Expenses Net of Tax
	a Items that will not be reclassified to Profit or Loss:		(l0.77)	(20.44)		(l0.77)	(4.31)
	- Remeasurement gain / (loss) on defined benefit obligation		(10.77)	(20.44)		(l0.77)	(4.31 )
	b Items that will be reclassified to Profit or Loss
	Total other comprehensive income/(Expense), Net of tax
	(a + b)		(l0.77)	(20.44)		(l0.77)	(4.31)
9	TotalComprehensive income for the period(7+8 )		166.20	69.65 100.36		486.89	352.35
lO	IPaid up Equity Share Capital		170.ao	170.00 170.00		170.00	170.00
	( face value Rs. 5/- each )
I I	bother Equity					2.725.53 1	2.313.40
12	learning pershare( Face value of Rs. 5/- each ) Basic & Diluted( But not annualised )		5.21	2.95 2.65		14.64	l0.49
			'i%..- ]'.Jen }i4i		x''f'ove

Part ll -Standalone statement of Aiiiii 2020

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Particulars			31.03.2020131.03.2019 AuditedIAudited	31.03.2020131.03.2019 AuditedIAudited
ASSETS
Non-cu rrent assets
(a) Property, plant and equipment			2179.31	21 81 .47
(b) Right of Use Asset			89.34	9.56
(c) Capital work-in-progress			4.82	9.75
(d) Investment property (e) Other Intangible assets			139.30 1 .76	139.62 4.94
(f) Intangible assets under	development
(g) Financial assets
(i) Investments			42.05	37.95
(ii) Trade receivables				I lO.12
(ii) Loans			49.84	48.44
(iii) Other financial assets				526.40
Other non-current assets h			2.73	7.90
	Total Non-Current Assets		2509.1 5	3076.1 5
ll.Current assets
(a) Inventories			2944.51	2497.94
(b) Financial assets
(i) Investments
(ii) Tradereceivables			2657.71	2847.86
(iii) Cash and cash equivalents			1 17.30	175.62
(iv) Bank balance other than		(ili) above	179.32	186.18
(v) Loans
(vi) Other financial assets			5.37	7.12
(c) Current Tax Assets ( Net )
<d) Other current assets	Total Current Assets		462.82 6367.03	397.61 61 1 2.33
Total Assets			8876.1 8	91 88.48
EQUITY AND LIABILITIES
Equity
(a) Equity share capital			170.00	170.00
(b) Other equity			2725.52	231 3.40
c) Non controllina Interest
		Total Equit-	2895.52	2483.40
Liabilities
1. Non-current liabilities
(a) Financial liabilities (i) Borrowings			1047.38	1 476 .52
(ii) Trade payables
Other financial liabilities			142 .26	58.04
(b) Provisions			1 14.44	96.86
(c) Deferred tax liabilities (	Net )		92.52	166.29
d) Other non-current liabilities			27.09	33.22
Total Non-Current Liabilities			1423.69	1830.93
ll.Current liabilities
(a) Financial liabilities (i) Borrowings			2423.31	1 951 .1 1
(ii) Trade and other payables			798,41	1307.87
(ili) Trade payables MSME			90.16	1 15.1 1
(iii) Other financial liabilities (b) Other current liabilities			560.77 515.46	832.91 463.47	t:o..a.G,.lh'4+a.-#CO
(c) Provisions			1 18.47	] 52.97
d) Current Tax Liabilities	Net ) Total Current Liabilities		50.39 4556.97	50.71 4874 .1 5
Total Equity and Liabilities			8876.18	:9188.48
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KPT Industries Limited (Formerly known as Kulkarni Power Tools Limited)

Part 111- Aaudited Standalone Statement of Cash Flows for the year ended on 3st March, 2020

			Rs.	In lakhs
	For the year ended		For the	year ended
Particulars	31 March 2020		31 March 20;,1 9
		Audited	Audited
Cash flows from operating activities
Net profit before taxes and extraordinary items		483.20
Adjustments for: Depreciation - Other than ROU		271 .84
Depreciation - On ROU		26.51
Dividend Income		(3.06)
IProfit)/Loss on sale of fixed assets		(7.58)
Bad debts written off		173.80
Provision for Doubtful Debts		0.72
Government Grant		(14 .47)
Income on de-recognition of.financial assets		(60.46)
Interest income		(40.73)
Interest expenses Operating profits before working capital changes		571 .81 1 401 .59		1 300.72
Adjustments for:
(Increase)/decrease in trade receivable (Increase)/decrease in other financial assets		125.76 1 .96		(571.36) 42.28
(Increase)/decrease in other non-financial assets		(65 .21 )		0.00
(Increase)/decrease in inventories		(446.57)		144 .12
Increase/(decrease) in trade payables		(534.41 )		129.96
Increase/(decrease) in other financial liabilities		496.22		1240.87)
Increase/(decrease) in other non-financial liabilities		60.33		0.00
Increase/(decrease) in Provisions		(31 .83		48.18
Cash generated from operations		1 007.85		756.67
Income tax paid		50,37		(68.38
Net cash from operating activities		957.48		688.29
Cash flows from investing activities
Purchase of fixed assets Proceeds from sale of other fixed assets		(267 .31 ) 12.08		(39.34) 3.48
Purchase of investments		l5.00)		(5.00)
Proceeds from Partnership Firm nterest received		606.96 22.37		(108.92) 47.76
Dividend Received		3.06		2.58
Sale of Investment		0.90		(84.04
Net cash from investing activities		373.07		183.48
Cash flows from financing activities
Proceed from issuance of share capital		O.QO		0.00
proceeds from issuance/ (Redemption) of preference shares		0.00		D.00
proceeds from Long Term Borrowings		158.68		650.00
:repayment of Long Term Borrowings		(912.06)		(573.51)
nterest paid purchase of ROU assets		(549.1 0) (33.69)		1581 .30) 0.00
)ividend and Dividend distribution tax		52.69		4.46
\let cash used in financing activities		1 388 .87		509.27
\let increase in cash and cash equivalents		(58.32)		l4.46)
:ash and cash equivalents at beginning of period (refer note	-8 )	175.62		180.08
l;ash and cash eggjyalents at the end of period (refer note - 8 )		1 17.30		175.62
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Notes:

l

• [he above resu]ts have been reviewed by the Audit Committee in its meeting he d on 30th June, 2020 and the same were

• approved and taken on record by the Board of Directors at its meeting held on 30th June. 2020.

• 2 The above results have been prepared in accordance with the Companies (Indian Accounting

prescribed u/s 1 33 of the Companies Act. 201 3 and other recognised accounting practices and policies to the extent aDolicable

• 3 Tax expense includes Current tax, Deferred tax and MAT Credit Entitlement if any

• 4 During the year 201 9-20, the Board of Directors of the Company has declared and paid interim dividend af Re. 0.75/- per ec uity share of face value Rs. 5/- each i.e. (® 15% of paid up capital of the Company. It is proposed that it may be treated as final dividend

• 5 The Company has adopted IND AS 1 16 'Leases' effective from lst April, 2019 and applied to all lease contracts existing on lst April. 201 9 using the modified retrospective method and has taken the cumulative adjustment to retained earnings on the date of initial application. Accordingly, comparitives for the year ended 31st March, 2019 have not been retrospectively adjusted. On transition. the adopton of new standard resulted in recognisation of Right -of-Use asset (ROU) of Rs. 106.29 lakhs and the lease liability of Rs. 121 .20 lakhs. The cumulative effect of applying the standard resulted in Rs. 5.12 lakhs being debited to retained earnngs

• 6 The global economic and business environment has been highly disruptive due to Covid-19 pandemic. The Company has evaluated the impact of Covid 1 9 on the operations of the Company, order booking and revenue, cash flow. assets and liabilities and factored in the impact of it upto the date of approval of these financial results on the carrying value of its assets and liabilities. Even though. it is very difficult ta predict the duration of the disruption and severity of its impact, on the basis of evaluation of overall economic environment. outstanding order book, liquidity position. debt free status. recoverability of receivables, the Company expects to recover the carrying amount of these assets and currently does not anticipate any further Impairment of it.

The Company has resumed its operations in phased manner after lockdown confirming to the all necessary precautionary guidelines issued by the Government. The Company is taking utmost care of its staff & work force like sanitization. social :distancing, mandatory mask wearing, thermal check at the gate, maintaining proper hygiene.

• 7 [he figures for the quarter ended 31 st March, 2020 and 31 st March. 201 9 are the balancing figures between the audited figures n respect of the full financial year and published un-audited year to date figures upto third quarter of the respective financial

• 8 :igures for previous year / period have been regrouped. wherever necessary

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Place: Shirol

Date : 30 th June. 2020

By ofd+r of the fo$rd of Directors KP7 1rfdustriegW.imited

(Fcf'yerly l£1)6hn as Kulkarni Power Tools Limited)

Pr$#sh Kulkarni Executive Chairman

DIN No.00052342

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KPT Industries Limited

(Formerly known as Kulkarni Power Tools Limited) Read. OfHce : Shiro1 .- 416 103, Disk. Kolhapur

Tel: (C)231) 2689900 Fax (0231) 2689946

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'
'KPT
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CIN: L291 30MH1976PLCO1 9147

Part IV - Consolidated audited financial results for the quarter and year ended on 31st March, 2020

					( Rs. In lakhs except EPS)	( Rs. In lakhs except EPS)	( Rs. In lakhs except EPS)
Sr.	Particulars		Quarter Ended on			I	Year Ended on
No			31 -03-20 13 1 :1 2-i'T ii33:=iT'r'3:i:63:m ' 31 ;03-1 9
			Audit	jun-audited)I(Audited) I(Audits;dl				(Audited)
I	llncome :
	a)Revenuefromoperations b)OtherIncome		2.628.60 21 .32	2.717.94 1 2,967.09 9 12134.20		1 l0.596.61 E l0.540.14 1ll0.4716s96
	Total Income		2,649.92	2.727.06 1 3,001.29		1	l0,707.08 1	l0,604.10
2	jcxpenditure
	a) Cost of Materials Consumed		894.08	735.14 1	758.87		2.977.67 1	2.453.48
	b) Purchase of Stock in Trade		693.77	950.3411,062.81			4.058.82 1	3.863.85
	c). Changes in Inventories of Finished Goods, Work in Process
	and Stock in Trade		(83.36)	(43.76)	85.33		(741 .26)		152 .45
	d) Employees Benefit Expense		272.06	282.06	235.40		1 .134.86		991.16
	e) Finance Cost		166.76	125.25	161 .54		571 .80		592.21
	D Depreciation andAmortizationExpense		95.42	67.66	71 .32		298.36		303.92
	g) Other Expenses		475.93	468.71	520.65		1,960.68	1.928.84
	Total Expenditure		2,514.66	2,585.40 1 2,895.92		1	l0,260.93 1 l0,285.91
3	IProfit/ ( Loss) Before Exceptionalltems(1- 2)		135.26	141.66 1	l05.37		446.15 1		318.19
4	IExceptionalItem
	Gain on sale of investment in subsidary		375.96				375.96
5	IProfit / ( Loss ) Before Tax		51 1.22	141.66	105.37		822.1 1		318.19
6	ITaxExpense		(41 .71 )	41 .30	22.48		(14.46)		(6.22)
7	IProrit/( Loss) forthe period( 5-6 )		552.93	100.36	82.89		836.57		324.41
8	bother Comprehensive Income/(Expense) Net of Tax
	a Items that will not be reclassified to Profit or Loss Remeasurement gain / (loss) on defined benefit obligation b Items that will be reclassified to Profit or Loss		(l0.77) (10.77)		(20.44)1(l0.77) (20.44)1(l0.77)				(4.31) (4.31)
	Total other comprehensive income/(Expense). Net of tax
	(a + b)		(l0.77)		(20.44)		(l0.77)		(4.31)
9 ITotal Comprehensive income for the period (7+8 )			542.16	100.36	62.45		825.80		320.10
lO IProfit attributable to: Owners of the Company			552.93	lo0.36	82.891836.571				324.41
	Non controlling interests
I I ITotal comprehensive income attributable to
	Owners of the Company		542.16	100.36	62.45		825.80320.10
	Non controlling interests
12 IPaid up Equity Share Capital			170.00	170.00 I	170.00		170.00 I		170.00
	( face value Rs. 5/- each )
13 bother Equity							2,725.53 1	1.974.50
14 learning pershare( Face value !s. 5/- each )
	Basic & DillilsdJ.Mt not anni feed )		16.26	2.95	2.44		24.60		9.54
		%,' Jden+r4aaAon Fuyol(

V

Particulars		31.03.2020 31 .03.201 9	31.03.2020 31 .03.201 9	31.03.2020 31 .03.201 9
		Audited	Audited
ASSETS :
1. Non-current assets
(a) Property, plant and equipment
(b) Right of Use Asset
(c) Capital work-in-progress
(d) Investment property
(e) Other Intangible assets
(f) Intangible assets under development
(g) Financial assets
(i) Investments
(ii) Trade receivables
(ii) Loans
(iii) Other Inancial assets
h) Other non-current assets
	Total Non-Current Assets	2509.1 5	2736.35
ll.Current assets
(a) Inventories
(b) Financial assets
(i) Investments
(ii) Trade receivables
(iii) Cash and cash	equivalents
(iv) Bank balance other than (iii) above
(v) Loans
(vi) Other financial assets
(c) Current Tax Assets ( Net )
d) Other current assets
	Total Current Assets	6367.03	61 1 3.33
Total Assets		8876.1 8	8849.68
EQUITY AND LIABILITIES :
Equity (a) Equity share capital		170.00		170.00
(b) Other equity c) Non controlling Interest		2725.52	1974.50 0.10
	Total Eauit	2895.52	21 44.60
Liabilities
1. Non-current liabilities
(a) Financial liabilities (i) Borrowings		1 047.38	1476.52
(ii) Trade payables
C)thor financial liabilities		142.26		58.04
(b) Provisions (c) Deferred tax liabilities ( Net )		1 14.44 92.52		96.86 166.29
d) Other non-current liabilities		27.09		33.22
	Total Non-Current Liabilities	1423.69	1	830.93
ll.Current liabilities
(a) Financial liabilities (i) Borrowings (ii) Trade and other payables (iii) Trade payables MSME (iii) Other financial liabilities (b) Other current liabilities		2423.30 798.41 90.16 560.78 515.46	1 951 .1 1 1307.87 115.1 1 832.91 463.47
(c) Provisions d) Current Tax Liabilities	( Net	118.47 50.39		152.97 50.71
	Total Current Liabilities	4556.97	4874.1 5
otal Equity and Liabilities		8876.1 8	8849.68
		ICh'tt	'}

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								( Rs. In lakhs )
Part VI - Consolidated segmentwise Revenue, Results and Capital			Employed
			Quarter Ended on				Year Ended on
		Particulars
			31-03-20	31 -1 2-1 9	31 03-1 9		31-03-20	31-03-19
			(Audited)	(Un-audited	(Audited)		(Audited	(Audited
l	Segment Revenue
	a) Power Tools b) Blowers		1 ,531 .45 419 .29	1 .914.13 784.88		21 96.79 738.38	7,495.71 2,242.45	8 .1 05 .37 2,054.37
	c) Windmills		7.40	3.53		13.30	85.27	105 .70
	d) All other segments (includes E-Vehicles)		670.46	15.40		18.62	773.18	274.70
		Total	2,628.60	2,71 7.94	2,967.09		10,596.61	1 0 ,540 .14
	Less : Inter Segment Revenue
	Net Sales / Income from operations		2,628.60	2.71 7.94	2.967.09		l0,596.61	1 0,540.14
	Segment Results - Profit /( Loss) before tax & interest from
	each segment
	a) Power Tools b) Blowers		90.85 69.47	324.30 50.93		331.00 (13 .96)	928.01 146 .43	999.46 125 .97
	c) Windmills		(13-85)	(14.72)		(5.72)	2.66	29.29
	d) All other segments (includes E-Vehicles)		277.61	(9.52)		(8.30)	266.07	9.66
			424.08	350.99		303.02	1,343.17	1 .164.38
	Less:-
	i) Interest
	ii) Other un-allocable expenditure
	Add :
	i) Un- allowable income
	Profit / { Loss ) Before Exceptional Items		135.26	141.66		105.37	446.15	318.19
	Exceptional Item
	Gain on sale of investment	in subsidary	375.96				375.96
	Profit / ( Loss ) Before Tax		51 1.22	141 .66		105.37	822.11	318.19
	Capital Employed ( Segment Assets - Segment Liabilities)
	a)PowerTools b)Blowers		3.629.22 1 .158.33	3.865.07 1.192.16	3,726.04 1.073.97		3.629.22 1 .158.33	3.726.04 1,073.97
	=)Windmills		403.14	410.45		445.96	403.14	445.96
	:l) All other segments (includes E-Vehicles) 3) Unallocated		1 ,164.02 339.57	61 1?77 239.73		639.99 741 .71	1 .164.02 339.57	639.99 741 .71
		Total	6.694.28	6,319.18	6.627.67		6.694.28	6.627.67

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KPT Industries Limited (Formerly known as Kulkarni Power Tools Limited)

Part Vll- Aaudited Consolidated Statement of Cash Flow for the year ended on 31st March, 2020

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	For the year ended	For the year ended	For the year ended
Particulars	3 I March 2020		31 March 201 9
	Audited		Audited
Cash flows from operating activities
Net profit before taxes and Exceptional items	446.15
Adjustments for:
Depreciation - Other than ROU	271.84
Depreciation - On ROU	26.51
Dividend Income (Profit)/Loss on sale of fixed assets	(3.06) l0.05
Bad debts written off	173.80
Provision for Doubtful Debts	0.72
Government Grant	(14.47)
Income on de-recognition of financial assets	(60.46)
Interest income	(21 .31 )
Interest expenses Operating profits before working capital changes	571.81 1 40 1 .59		1300.72
Adjustments for:
(Increase)/decrease in trade receivable (Increase)/decrease in other financial assets	125 .76 1 .86		(538.55) 34.63
(Increase)/decrease in other non-financial assets	(65 .21)		0.00
(I ncrease)/decrease in inventories	(446.57)		144.12
Increase/(decrease) in trade payables	(534.41 )		129.96
Increase/(decrease) in other financial liabilities	496.22		(240.87)
Increase/(decrease) in other non-financial liabilities	60.33		0.00
Increase/(decrease) in Provisions	(31 .83		(79.41
Cash generated from operations	1007.75		750,60
Income tax paid	50.37)		68.38
Net cash from operating activities	957.38		682.22
Cash flows from investing activities
Purchase of fixed assets	(267.31 )		l39.33)
Proceeds from sale of other fixed assets	618.36		3.48
Purchase of Investments	l5.00)		(5.00)
Proceeds from Partnership Firm	0.00		(108.92)
Interest received	23.05		47.76
[)ividend Received	3.06		2.58
Sale of Investment	0.00		(77.98)
Net cash from investing activities	372.17		177.41
Cash flows from financing activities
proceeds from Long Term Borrowings	158.68		650.00
Repayment of Long Term Borrowings	(912.06)		(573.51)
nterest paid	(549.10)		(581.30)
purchase of ROU assets	l33.69)		0.00
)ividend and Dividend distribution tax	(52.69)		4.46
yet cash used in financing activities	1388.87)		509.27
qet increase in cash and cash equivalents	(59.321		(4.46)
:ash and cash equivalents at beginning of period (refer note -9)	176.62		181 .08
;ash and cash equivalents at the end of period (refer note - 9	117.30		176.62
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Notes:

• l The above results have been reviewed by the Audit Committee in its meeting held on 30th June, 2020 and the same were approved and taken on record by the Board of Directors at its meeting held on 30th June, 2020

• 2 The above results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules. 2015 ( IND AS )

• prescribed u/s 133 of the Companies Act. 2013 and other recognised accounting practices and policies to the extent applicable.

• 3 Tax expense includes Current tax. Deferred tax and MAT Credit Entitlement if any

• 4 During the year 201 9-20. the Board of Directors of the Company has declared and paid interim dividend of Re. 0.75/- per equity share of face value Rs- 5/- each i.e. @ 1 5% of paid up capital of the Company. It is proposed that it may be treated as anal dividend

• 5 The Company has adopted IND AS 1 16 'Leases' effective from lst April, 2019 and applied to all lease contracts existing an lst April, 2019 using the modified retrospective method and has taken the cumulative adjustment to retained earnings on the date of Initial application. Accordingly, comparitives for the year ended 31 st March, 2019 have not been retrospectively adjusted. On transition, the adopton of new standard resulted in recognisation of Right -of-Use asset (ROU) of Rs. 106.29 lakhs and the lease liability of Rs. 121 .20 lakhs. The cumulative effect of applying the standard resulted in Rs. 5.12 lakhs being debited to retained earnngs

• 6 The global economic and business environment has been highly disruptive due to Covid-1 9 pandemic. The Company has evaluated the impact of Covid 19 on the operations of the Company. order booking and revenue. cash flow, assets and liabilities and factored in the impact of it upto the date of approval of these financial results on the carrying value af its assets and liabilities. Even though. it is very difficult to predict the duration of the disruption and severity of its impact, on the basis of evaluation of overall economic environment, outstanding order book. liquidity position. debt free status, recoverability of receivables, the Company expects to recover the carrying amount of these assets and currently does not anticipate any further impairment of it

The Company has resumed its operations in phased manner after lockdown confirming to the all necessary precautionary guidelines issued by the Government. The Company is taking utmost care of its staff & work force like sanitization. social distancing, mandatory mask wearing, thermal check at the gate. maintaining proper hygiene.

• 7 The figures for the quarter ended 31 st March, 2020 and 31 st March, 2019 are the balancing figures between the audited figures in respect of the full financial year and published un-audited year to date figures upto third quarter of the respective financial years

• 8 [)urine the year , the Company has dis-invested from its subsidary " KP Deve]opers" as on 4th January, 2020. Accordingly, consolidation is done up to date of dis-investment and profit on sale of investment is recognised as exceptional item in consolidated financial statement.

• 9 Figures for previous year / period have been regrouped, wherever necessary.

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By order of the Bo?rd of Directors
Place: Shirol lkarni Power Tools Limited)
gr Executive Chairman
Date : 30 th June. 2020 '"": ' " DIN No.00052342
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