LINC LIMITED — Regulatory Filings 2024

Feb 8, 2024

8 th February, 2024

The Listing Department, The Calcutta Stock Exchange Ltd. 7, Lyons Range, Kolkata – 700001	The Manager The Department of Corporate Services, BSE Limited, P. J. Towers, Dalal Street, Mumbai - 400001	The Manager, The Listing Department, National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400051
Scrip Code- 022035	Script Code- 531241	Symbol- LINC

Dear Sir,

Sub: Outcome of the Board Meeting held on 8th February, 2024

This is to inform you that Board of Directors of the Company at its meeting held today i,e on Thursday, 8th February, 2024, inter-alia approved / recommended the following:

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith a copy of Un-audited Financial Results (Standalone and Consolidated) of the Company for the quarter and nine months ended 31st December, 2023, approved at the meeting of the Board of Directors of the Company held today.

A copy of Limited Review Report given by our Auditors, M/s Singhi & Co., Chartered Accountants, on the financial results of the Company is also enclosed.

The meeting commenced at 5:00 P.M. and concluded at 6.30 P.M.

The above is for your information and record.

Thanking You

Yours faithfully

For LINC LIMITED

NARAYAN KUMAR DUJARI Digitally signed by NARAYAN KUMAR DUJARI Date: 2024.02.08 18:34:58 +05'30'

N. K. DUJARI Director-Finance & CFO

Limited Review Report on the Quarterly and Year to date Unaudited Standalone Financial Results of Linc Limited (formerly known as Linc Pen & Plastics Limited) pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Review Report to, The Board of Directors. Linc Limited (formerly known as Linc Pen & Plastics Limited)

• We have reviewed the accompanying statement of unaudited standalone financial results of M/s. $1.$ Linc Limited (formerly known as Linc Pen & Plastics Limited) ('the Company') for the quarter and nine months ended December 31, 2023 together with notes thereon (hereinafter referred to as 'the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Reguirements) Regulations, 2015 as amended ('the Listing Regulation').
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors in their meeting held on February 8, 2024, has been prepared in accordance with the 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 conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement 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 the Chartered Accountant of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principle laid down in the applicable Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013, as amended read with relevant rules issued there under and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of the Listing Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Singhi & Co. Chartered Accountants Firm Registration No.302049E

Anix Philia

(Ankit Dhelia) Partner Membership No. 069178 UDIN: 24069178BKFDNP4117

Place: Kolkata Dated: February 8, 2024

Linc Limited

(Formerly known as Linc Pen & Plastics Limited)

Regd. Off: Aurora Water Front, 18th Floor, GN-34/1, Saltlake, Sector-V, Kolkata - 700 091, Phone: 033-6826 2100 Corporate Identity Number: L36991WB1994PLC065583, E-mail: investors@lincpen.com, Website: www.lincpen.com Statement of Standalone Unaudited Financial Results for the Quarter and Nine Month Ended December, 2023

							(Rs. in Lakhs)
SI		Quarter ended		Nine Month Ended		Year Ended
	Particulars	31.12.23	30.09.23	31.12.22	31.12.23	31.12.22	31.03.23
No.		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	1 a. Revenue from Operations b. Other Income	12.033.95 66.72	13.121.52 193.27	12,454.51 40.60	36, 343.40 394.22	34,946.53	48,675.52
						256.72	348.09
	Total Income	12.100.67	13.314.79	12,495.11	36.737.62	35,203.25	49,023.61
	2 Expenses
	a. Cost of Material Consumed	3,365.34	3,678.87	3,289.69	9,927.52	10,448.06	13,314.22
	b. Purchase of Stock-in-Trade	4.104.21	4,317.11	4,891.94	12,961.13	12,927.24	17,630.98
	c. Changes in inventories of Finished goods, stock-in-trade and work in progress	(213.77)	233.84		(853.64)	(1,942.35)
	d. Employee Benefits Expense	1,830.04	1,894.56	(824.55) 1,495.88	5,410.04	4.448.44	(1,485.69) 6.072.94
	e. Finance Cost	43.84	46.04	14.80	161.62	34.90	63.58
	f. Depreciation and amortisation expense	359.51	379.47	354.08	1,112.03	1.045.95	1.411.44
	g. Other Expenses	1,597.58	1,738.56	1,782.86	4.974.30	4.890.45	7.007.22
	Total Expenses	11,086.75	12,288.45	11,004.70	33,693.00	31,852.69	44,014.69
	3 Profit / (Loss) before Exceptional Items and Tax (1-2)	1.013.92	1,026.34	1.490.41	3.044.62	3,350.56	5,008.92
	4 Exceptional Items
	5 Profit / (Loss) before Tax (3-4)	1,013.92	1,026.34	1,490.41	3,044.62	3,350.56	5,008.92
	6 Tax Expenses
	a. Current Tax	255.50	269.00	381.00	816.50	910.00	1,308.00
	b. Deferred Tax	1.46	(13.30)	(3.71)	(37.98)	(66.26)	(38.76)
	Total Tax Expenses	256.96	255.70	377.29	778.52	843.74	1,269.24
	7 Profit / (Loss) for the period (5-6)	756.96	770.64	1,113.12	2,266.10	2,506.82	3,739.68
	8 Other Comprehensive Income (Net of tax)
	a. Items that will not be reclassified subsequently to	(8.78)	(8.79)	0.36	(26.35)	1.08	(35.13)
	profit or loss (net of tax)
	b. Items that will be reclassified subsequently to profit or loss (net of tax)
	9 Total Comprehensive Income for the period (7+8)	748.18	761.85	1,113.48	2,239.75	2,507.90	3,704.55
	[Comprising Profit / (Loss) for the period (after tax)
	and Other Comprehensive Income (after tax) ]
	10 Paid up Equity Share Capital (Face Value - Rs.10/- each)	1,487.23	1,487.23	1,487.23	1,487.23	1,487.23	1,487.23
	11 Other Equity						16,235.05
	12 Earnings per Equity Share-not annualised (Amount in Rs.)
	(a) Basic:	5.09	5.18	7.49	15.24	16.86	25.15
	(b) Diluted:	5.09	5.18	7.49	15.24	16.86	25.15
Votes:

The aforementioned results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 8th February, 2024. Limited Review of these results as required under Regulation 33 of the SEBI (Listing and other Disclosure Requirements) Regulations, 2015 has been completed by the Statutory Auditors.

These standalone financial results have been prepared in accordance with Indian Accounting Standards (Ind AS), prescribed under section 133 of the $\overline{c}$ Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rule, 2015 and relevant amendments thereafter.

• 3 The Code on Social Security 2020, (the 'code') received Presidential assent on 28th September 2020. However, the date on which the Code will come into effect has not yet been notified. The Company will assess the impact of the Code in the period(s) in which the provisions of the Code become effective.
• The Company's business activity falls within a single reportable operating segment i.e. "Writing Instruments and Stationery", hence has only one $\overline{4}$ reportable operating segment as per IND AS 108-Operating Segments.
• The Company had entered into an agreement on 05.04.23 for acquisition of 60% shareholding of Gelx Industries Ltd, Kenya for which approval by 5 Competition Authority of Kenya was received during the previous quarter. Post completion of the acquisition formalities, Gelx Industries Limited, Kenya has become a subsidiary of the company w.e.f. 3rd October, 2023.
• 6 The Company had incorporated a wholly owned subsidiary in the name of "Morris Linc Private Limited " on 28th June, 2023. The company entered into a Joint Venture Agreement dated 23rd October, 2023 with Morris Co. Ltd. ("Morris") via the aforesaid company to carry out manufacture and sale of anti-ink dry marker with automatic air tight sealing mechanism in a Profit Share Ratio of 50.01: 49.99 for the Company & Morris respectively. In view of the ongoing procedural facilities for commencement of business as per the joint venture agreement, no financial transactions have been entered into as at the quarter-end except advance given toward share application money as per terms of JV agreement.

For and on behalf of the Board

Deepak Jalan Managing Director

MU

Place: Kolkata Date: 8th February, 2024

Limited Review Report on the on the Quarterly and Year-to-date Unaudited Consolidated Financial Results of Linc Limited (formerly known as Linc Pen & Plastics Limited) pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Review Report to. The Board of Directors, Linc Limited (formerly known as Linc Pen & Plastics Limited)

• We have reviewed the accompanying statement of unaudited consolidated financial results of M/s. Linc Limited (formerly known as Linc Pen & Plastics Limited) ('the Company') for the quarter and nine months ended December 31, 2023 together with notes thereon (hereinafter referred to as 'the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Reguirements) Regulations, 2015 as amended ('the Listing Regulation').
• This Statement, which is the responsibility of the Company's Management and approved by the $\mathcal{L}$ Board of Directors in their meeting held on February 8, 2024, has been prepared in accordance with the 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 conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement 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. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in 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) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the financial results of the following entities :

Name of the Entity	Relationship
Linc Limited	Parent
Gelx Industries Limited (Kenya)	Subsidiary w.e.f October 3, 2023

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the reports of other auditors in case of one subsidiary referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principle laid down in the applicable Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013, as amended read with relevant rules issued there under and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of the Listing Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Other Matters

• 1. As stated in Note 5 of the Statement, the Company has completed acquisition of 60% shareholding of Gelx Industries Ltd, Kenya and accordingly it has become a subsidiary of the company w.e.f. 3rd October, 2023. In view of the aforesaid acquisition, consolidated financial results for the quarter and nine months ended December 31, 2023 have only been published. No corresponding previous periods/ year's figures have been presented in respect of the consolidated financial results since the company did not have any subsidiary, associate or joint venture prior to this acquisition.
• 1. The unaudited consolidated financial results also includes the interim financial information of one ("1") subsidiary located outside India whose interim financial information reflect total revenues of Rs. 399.83 lakhs, total profit after tax of Rs.14.97 lakhs and total comprehensive income of Rs. 10.53 lakhs for the period from October 3, 2023 till December 31, 2023 respectively, as considered in the consolidated unaudited financial results. This interim financial information have been derived from the financial statements of the subsidiary for the year ended December 31, 2023 and the financial statements as at October 3, 2023 (acquisition date) audited by other auditor whose audit reports with unmodified opinion has been furnished to us by the management. Our conclusion in so far as it relates to the amounts and disclosure included in respect of these subsidiary is based solely on the reports of such other auditor and the procedures performed by us as stated in paragraph 3 above The management of the company has converted the interim financial results/ information of such subsidiary located outside India from accounting principles generally accepted in their respective country to accounting principles in accordance with the recognition and measurement principle laid down in the applicable Indian Accounting Standards ('Ind AS'). Our opinion on the interim financial information in so far as relates to the amounts included in respect of this subsidiary is based solely on audited financial information as per the respective local laws which has been converted into Ind AS by the Company's management and duly certified by them

Our conclusion on the Unaudited Consolidated Financial Results is not modified in respect of the above matters.

For Singhi & Co. Chartered Accountants Firm Registration No.302049E

Antic Philia

(Ankit Dhelia) Partner Membership No. 069178 UDIN: 24069178BKFDNQ4913

Place: Kolkata Dated: February 8, 2024

	Linc Limited
	(Formerly known as Linc Pen & Plastics Limited)
	Regd. Off: Aurora Water Front, 18th Floor, GN-34/1, Saltlake, Sector-V, Kolkata - 700 091, Phone: 033-6826 2100 Corporate Identity Number: L36991WB1994PLC065583, E-mail: investors@lincpen.com, Website: www.lincpen.com
	Statement of Consolidated Unaudited Financial Results for the Quarter and Nine Month Ended December, 2023
			(Rs. in Lakhs)
S 1		Quarter ended	Nine Month Ended
	Particulars	31.12.2023	31.12.2023
No.		(Unaudited) Refer Note 5	(Unaudited) Refer Note 5
	1 a. Revenue from Operations	12,395.83	36,705.28
	b. Other Income	71.33	398.83
	Total Income	12,467.16	37,104.11
	2 Expenses a. Cost of Material Consumed	3,560.83	10,123.01
	b. Purchase of Stock-in-Trade	4,104.21	12,961.13
	c. Changes in inventories of Finished goods,
	stock-in-trade and work in progress	(200.75)	(840.62)
	d. Employee Benefits Expense	1,898.46 66.35	5,478.46 184.13
	e. Finance Cost f. Depreciation and amortisation expense	374.20	1,126.72
	g. Other Expenses	1,640.34	5,017.06
	Total Expenses	11,443.64	34,049.89
	3 Profit / (Loss) before Exceptional Items and Tax (1-2)	1,023.52	3,054.22
4	Exceptional Items		3.054.22
	5 Profit / (Loss) before Tax (3-4) 6 Tax Expenses	1,023.52
	a. Current Tax	259.80	820.80
	b. Deferred Tax	1.46	(37.98)
	Total Tax Expenses	261.26	782.82
	7 Profit / (Loss) for the period (5-6)	762.26	2.271.40
	8 Profit / (Loss) for the period attributable to: Owners of the Parent	756.27	2,265.41
	- Non- Controlling Interest	5.99	5.99
	8 Other Comprehensive Income (Net of tax)
	a. Items that will not be reclassified subsequently to	(8.78)	(26.35)
	profit or loss (net of tax)	(4.44)	(4.44)
	b. Items that will be reclassified subsequently to profit or loss (net of tax)
	Other Comprehensive Income (Net of tax)	(13.22)	(30.79)
	Other Comprehensive Income attributable to:
	Owners of the Parent	(13.22)	(30.79)
	Non- Controlling Interest 9 Total Comprehensive Income for the period (7+8)	749.04	2,240.61
	[ Comprising Profit / (Loss) for the period (after tax)
	and Other Comprehensive Income (after tax) ]
	9 Total Comprehensive Income attributable to:	743.05	2,234.62
	Owners of the Parent - Non- Controlling Interest	5.99	5.99
	10 Paid up Equity Share Capital (Face Value - Rs. 10/- each)	1,487.23	1,487.23
	11 Other Equity
	12 Earnings per Equity Share-not annualised (Amount in Rs.)
	(a) Basic: (b) Diluted :	5.09 5.09	15.23 15.23
Notes:
1.	The aforementioned results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 8th February, 2024. Limited Review of these results as required under Regulation 33 of the SEBI (Listing and other Disclosure Requirements) Regulations, 2015 has been completed by the Statutory Auditors.
$\overline{2}$	These consolidated financial results have been prepared in accordance with Indian Accounting Standards (Ind AS), prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rule, 2015 and relevant amendments thereafter.
3	The Code on Social Security 2020, (the 'code') received Presidential assent on 28th September 2020. However, the date on which the Code will come into effect has not yet been notified. The Group will assess the impact of the Code in the period(s) in which the provisions of the Code become effective.
4	The Group's business activity falls within a single reportable operating segment i.e. "Writing Instruments and Stationery", hence has only one reportable operating segment as per IND AS 108-Operating Segments.
5	Linc Limited ('the Holding Company') had entered into an agreement on 5th April, 2023 for acquisition of 60% shareholding of Gelx Industries Ltd, Kenya for which approval by Competition Authority of Kenya was received during the previous quarter. Post completion of the acquisition formalities, Gelx Industries Limited, Kenya has become a subsidiary of the company w.e.f. 3rd October, 2023. In view of the aforesaid acquisition, consolidated financial results for the period ended 31st December, 2023 includes figures of the subsidiary for the period 3rd October to 31st December, 2023. No corresponding previous periods/ years figures have been presented in respect of the consolidated financial results since the company did not have any subsidiary, associate or joint venture prior to this acquisition.
6	Linc Limited ('the Holding Company') had incorporated a wholly owned subsidiary in the name of "Morris Linc Private Limited " on 28th June, 2023. The company entered into a Joint Venture Agreement dated 23rd October, 2023 with Morris Co. Ltd. ("Morris") via the aforesaid company to carry out manufacture and sale of anti- ink dry marker with automatic air tight sealing mechanism in a Profit Share Ratio of 50.01 : 49.99 for the Company & Morris respectively. In view of the ongoing procedural facilities for commencement of business as per the joint venture agreement, no financial transactions have been entered into as at the quarter-end except advance given toward share application money as per terms of JV agreement. Accordingly, there is no impact of the above in the consolidated financial results for the period ended 31st December, 2023.
			For and on behalf of the Board
		Kolkata
	Place: Kolkata Date: 8th February, 2024		Deepak Jalan Managing Director