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Madhucon Projects Ltd. Interim / Quarterly Report 2018
61181_rns_2018-11-12_1d092636-2053-4250-bc99-6a088f6c43ca.pdf
Interim / Quarterly Report
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RefNo.: MPL/CS/HYD/2018 Date: 12.11.2018
To, Corporate Relationship Dept, Limited, lst Floor, New Trading Ring 5th Floor, Exchange Plaza, Rotunda Building, PJ Towers Bandra (East), Mumbai— 400 051. Dalal Street, Fort, Mumbai -400 001
The Bombay Stock Exchange (BSE) The National Stock Exchange (NSE) of India
Dear Sir/Madam, Sub: Outcome ofBoard Meeting held on 12'" November, 2018 at 11.00 AM Ref: BSE Scrip Code: 531497, NSC Scrip code: MADHUCON
Pursuant to Regulation 30 & 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, Outcome of Board Meeting held on 12th November, 2018.
The Unaudited Standalone Financial Results of the Company for the half-year ended 30"1 September, 2018 as reviewed by the Audit Committee and recommended to the Board with Limited Review Report by Auditors P. Murali & Co., Chartered Accountants, have been approved and taken on record by the Board of Directors at its meeting held on 12'" November, 2018.
We are enclosing herewith the unaudited Standalone Financial Results for the Second Quarter ended 30'" September, 2018 duly reviewed by the Audit committee and approved by the Board and also Limited Review Report furnished by the Auditors.
The Meeting of the Board of Directors of the Company commenced at 11:00 AM and Concluded at 03:30 PM.
We would request you to please take on record the above and host the same on your website for viewing to the public.
Thanking You,
Yours faithfully For Madhucon Projects Limited
N aiah Managing Director DIN: 00784491
CHARTERED ACCOUNTANTS Fax 3 (9140) 2339 2474 HYDERABAD -
P. MURALI & CO" Tel. :(91-40) 2332 6666, 2331 2554 2339 3967, 2332 1470 6'3'655/2/3» SOMAJ'GUDA! E-mail : [email protected] 500 082. INDIA info@pmura|i.com Website : www.pmurali.com
LIMITED REVIEW REPORT
To
The Board of Directors MADHUCON PROJECTS LIMITED Hyderabad
Limited Review Report for the quarter and half vear ended 30*h September, 2018
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- We have reviewed the accompanying statement of unaudited standalone financial results of M/s. MADHUCON PROJECTS LIMITED (the 'Company') for the quarter and half year ended 30'" September, 2018 ('the "Statement") attached herewith, being submitted by the Company pursuant to the requirements 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.
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- The preparation of the statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standard) Rules, 2015, read with 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 in their meeting held on 12'h November, 2018. Our responsibility is to issue a report on the statement based on our review.
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- We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, Review ofinterim financial ilyformation 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 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 provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
CHARTERED ACCOUNTANTS Fax : (9140) 2339 2474 6-3-655/2/3, SOMAJIGUDA, HYDERABAD - 500 082. INDIA
P. MURALI & CO" Tel. :(91-40)2332 6666, 2331 2554 2339 3967, 2332 1470 E-mail :[email protected] [email protected] Website : www.pmura|i.com
- 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 Indian Accounting Standards ('Ind AS') specified under section 133 of the Companies Act,2013, 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 Regulation 33 of the SEBI (Listing obligations and Disclosure requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/ 2016 dated luly 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For P. Murali 8: Co. Chartered Accountants FRN: 0072575
A Krishna Rao Partner M.No. 020085
Place: Hyderabad Date: 12'|| November, 2018
MADHUCON PROJECTS LIMITED
CIN-L742101'GI990PLC011114
Regd. 01ftce:1-7-70, Jubllpura, Khammam - 507003, Telangana
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2018
| (Rs. In lakhs) | |||||||
|---|---|---|---|---|---|---|---|
| 31N", | Particulars | Quarter Ended | 6 Months Ended | Year Ended | |||
| 30.09.2018 | 30.06.2013 | 30.09.2017 | 30.09.2018 | 30.09.2017 | 31.03.2018 | ||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||
| 1 | Income from Operations: | ||||||
| (a) Net Sales/ Income from Operations | 14,912.03 | 16,001.65 | 11,820.81 | 30.91368 | 32,920.94 | 66,393.34 | |
| lb) Other income | 427.86 | 215.72 | 112.74 | 643.58 | |||
| Total Income | 15,339.69 | 16,217.37 | 11,933.55 | 31,557.26 | 243.97 | 2,211.28 | |
| 2 | Expenses: | 33,164.91 | 68,604.62 | ||||
| (0) Cost of Materials Consumed | 11,222.43 | 12,389.30 | 7,723.16 | 23,611.73 | 23,345.92 | 47,401.29 | |
| (b) Changes in Inventory of Finished goods,Work-in- | - | - | (588.86) | - | (355.70) | (337.40) | |
| Progress and stock»in'trade | |||||||
| (c) Employee benefits expense | 678.51 | 873.06 | 1,222.52 | 1,551.57 | 2,533.57 | 4,457.49 | |
| (d) Other expenses | 894.18 | 824.07 | 421.46 | l,718.25 | 905.10 | 4,945.57 | |
| (6) Financial Costs | 3,322.36 | 2,387.27 | 2,110.79 | 5,709.63 | 4,269.41 | 9,313.06 | |
| (f) Depreciation and amortisation expense | 190.96 | 189,30 | 607.27 | 380.26 | 1,216.68 | 1,744.13 | |
| Total EXPenses | 16,308.44 | 16,663.00 | 11,496.34 | 32,971.44 | 31,914.97 | 67,524.14 | |
| 3 | Pratt/(N's) "WeEXCeP'lWG' "ems (1'2) | ||||||
| 4 | Exceptional Items | (968.55)- | (445.63)- | 437.21' | (1,414.18)' | 1,249.94- | 1,080.48- |
| 5 | Profit/(Loss) Before Tax (3-4) | (968.55) | (445.63) | 437.21 | 1,249.94 | ||
| 6 | Tax Expense | (1,414.18) | 1,080.48 | ||||
| a) Current Tax | - | - | 171.65 | - | 466.92 | 2,200.55 | |
| b) Deferred Tax | (489.15) | - | ~ | (489.15) | - | (2,431.46) | |
| Total Tax (a+b) | (489.15) | - | 171.65 | (489.15) | 466.92 | (230.91) | |
| 7 | Net Profit/(Loss)After Tax (5-6) | (479.40) | (445.63) | 265.56 | (925.03) | 783.02 | 1,311.39 |
| 8 | Other Comprehensiveincome | - | - | - | - | 28.19 | |
| 9 | Total Comprehensive Income | (479.40) | (445.63) | 265.56 | (925.03) | 783.02 | 1,339.58 |
| 10 | Paid up equityshare capital (FaceValue of Rs.1/-each) | 737.95 | 737.95 | 737.95 | 737.95 | 737.95 | 737.95 |
| 1 I | Other Equity | - | - | - | - | — | |
| 12 | (I) Earning per share of Re.1/— each(not annuallsed) | 78,826.86 | |||||
| (a) Basic (in Rs.) | |||||||
| lb) Diluted(in R3,) | (0.65) | (0.60) | 0.36 | (1.25) | 1.06 | 1.78 | |
| (0.65) | (0.60) | 0.36 | (1.25) | 1.06 | 1.78 | ||
| Notes: | See accompanylng notes to the financial results | ||||||
1 The above results have been reviewed by the Audit Committee at its meeting held on November 12,2018 and approved by the Board of Directors of the Company at its meeting held on November 12, 2018. The Statutory Auditors have carried out limited review of the unaudited financial results for the Quarter ended September 30, 2018.
2 The Company's operations primarily consists of construction-project activities and there are no other reportable segments under Ind AS 108 "Operating Segments".
3 The new accounting standard Ind AS 115 (Revenue from Contracts with Customers) is effective from April I, 2018. Accordingly, the Company has changed its income recognition policy in line with Ind AS 115 from April 1, 2018 and the impact of the same on the financial results for the quarter and six months ended September :30, 2018 is not material.
Date : 12-1172018 Managing
By order of the Board for Madhucon Projects [lmited
.W
Director
Place: Hyderabad ,
MADHUCON PROJECTS LIMITED
Standalone Statement of Assets and Liabilities
| (Rs. In Lakhs) | |||||
|---|---|---|---|---|---|
| Particulars | As at | As at | |||
| ASSETS | Septemberao, 2018 | March 31,2018 | |||
| Non-Current Assets | |||||
| Property, Plant and Equipmentto) | |||||
| Financial Assets(b) | 5,120.66 | 5,147.73 | |||
| investments(i) | |||||
| Tradereceivablesiii) | 1,77,181.38547.91 | 1,77,181.38525.46 | |||
| Loans(iii) | 5,133.73 | 5,131.79 | |||
| Others Financial Assets(iv) | 15,584.99 | 16,407.97 | |||
| Deferred tax Asset (Net)to) | 2,790.96 | 2,301.81 | |||
| Other non—current assets(d) | 20,776.34 | 20,443.57 | |||
| Total Non-Current Assets | 227,135.97 | 227,139.71 | |||
| Current Assets | |||||
| Inventoriesto) | 3,274.74 | 3,685.88 | |||
| Financial Assets(b) | |||||
| Trade receivables(11 | 18,089.12 | 19,618.07 | |||
| Cash and cash equivalentsiii) | 496.15 | 1,799.32 | |||
| Bankbalances otherthan (ii)above(iii) | 236.75 | 258.13 | |||
| Loans(iv) | 7,236.58 | 7,189.77 | |||
| Others Financial Assets(v) | 9,447.57 | 7,929.30 | |||
| Current tax asset (net)(C) | 9,201.75 | 5,922.18 | |||
| Other current assets[d] | 18,534.77 | 17,483.31 | |||
| Total Current Assets | 66,517.43 | 63,885.96 | |||
| Total Assets | 293,653.40 | 291,025.67 | |||
| EQUITY AND LIABILITIES | |||||
| Equfly | |||||
| Equity Share capital(a) | 740.32 | 740.32 | |||
| Other Equity(b) | 77,901.82 | 78,826.87 | |||
| Total Equity | 78,642.14 | 77,567.19 | |||
| LIABILITIES | |||||
| Non-Current Liabilities | |||||
| Financial Liabilities(a) | |||||
| Borrowings(i) | 4,039.36 | 4,558.60 | |||
| Trade payables(ii) | 7,029.57 | 8,250.99 | |||
| Other financial liabilities(iii) | 6,710.40 | 8,044.18 | |||
| Provisions(b)Other non»current liabilities | 175.56 | 175.56 | |||
| (c)Total Non-Current Liabilities | 18,820.90 | 21,946.87 | |||
| Current Liabilities | 36,775.79 | 42,976.20 | |||
| Financial Liabilities(a) | |||||
| Borrowings(i) | |||||
| Trade payabies(ii) | 61,965.93 | 57,893.74 | |||
| Other financial liabilities(iii) | 44,529.20 | 40,026.97 | |||
| Othercurrent liabilities(b) | 12,532.70 | 11,084.31 | |||
| Provisions(01 | 45,223.47 | 48,711.57 | |||
| (c1) Current tax liabilities (net) | 4,758.219,225.96 | 4,758.21 | |||
| Total Current Liabilities | 6,007.48 | ||||
| Total Equityand Liabilities | 1,713,235.47293,653.40 | 168,482.28 | |||
| 291,025.67 |
By order of the Board For Ma hucon Projects Limited
ah
Managing Director
MADHUCON PROJECTS LIMITED
CiN-L74210'I'G 199091.001 1 1 14 Regd. Omce:l-7<70, Jubllpura, Khammam - 507 003, Telangana
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2018
| (Rs. 1n Lakhs) | |||||||
|---|---|---|---|---|---|---|---|
| Quarter Ended | 6 Months Ended | Year Ended | |||||
| 5. | 30.09.2018 | 30.06.2018 | 30.09.2017 | 30.09.2013 | 30.09.2017 | 31.03.2018 | |
| No. | Particulars | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited |
| 1 | Total Income | 15,339.89 | 16,217.37 | 11,933.55 | 31,557.26 | 33.164.91 | 68,604.62 |
| 2 | Net Profit] (Loss) for the period before Tax (before Exceptional | (968.55) | (445.63] | 437.21 | (1,414.18) | 1,249.94 | 1,080.48 |
| 3 | and/ or Extraordinarv items)Net Profit/ (Loss) for the period before Lax [after Exceptional | (968.55) | (445.63) | 437.21 | (1,414.18) | 1,249.94 | 1,080.48 |
| 4 | and /or Extraordinarv items)Net Profit/ (Loss) for the period after Tax (after Exceptional | [479.40] | (445.63) | 255-55 | (925103) | 783.02 | 1.31139 |
| 5 | and /or Extraordinarv items)Total Comprehensive Income for the period [Comprising Profit/ (Loss) for the period (after tax) and Other Comprehensive | (479.40) | (445153) | 265.55 | [925-031 | 78302 | 1.339-58 |
| Income (after ta.)l | 737.95 | 737.95 | 737.95 | 737.95 | 737.95 | 737.95 | |
| 67 | Equitv Share Capital (Face value of Rs. l/-each)as shown in theReserves (excluding Revaluation Reserve]Audited Balance Sheet of the previous year | - | ' | 73.82536 | |||
| 3 | Earning per share (before extraordinary items) of Re.1/— each | - | ~ | ~ | - | ||
| (a) Basic | [0.55) | (0.60] | 0.36 | (1.25) | 1.06 | 1.78 | |
| (b) Diluted | (0.65) | (0.60) | 0.36 | [1.25) | 1.06 | 1.78 |
Notes
The above is an extract of the detailed format of Unaudited quarterly financial results filed with me Stock Exchanges under Regulation 33 of the SEBl (Listing and Disclosure Requirements) Regulations, 2015. The fun format of the unaudited financial results are available on the Stock Exchanges website wvmbseindiacom www.nseindia.com and on the Compaan website wwvtmadhuconcom.)
Piace:Hyderabad Date: 12.1 1.2018
director
STANDALONE:
Madhucon Projects Limited during the half year ended on September 30, 2018 has achieved a turnover of Rs. 315.57 Crs (including other income) as against Rs. 331.64 Crs in the corresponding Half year of the previous year. The Company has reported EBIDTA of Rs. 46.76 Crs and a Net loss of Rs. 9.25 Crores as against Rs. 67.36 Crs and profit of Rs. 7.83 Crores respectively in the corresponding half year of the previous year. The Company has posted an EPS of Rs. (1.25) for the Half year as against the EPS of Rs. 1.06 in the corresponding half year of the previous year.
Madhucon Projects Limited (MPL) is a premier infrastructure development company and the flagship company of Madhucon Group. MPL is a well—established Construction Company and a leading Contractor in executing projects in various sections — Transportation (National & State Highways, Roads, Metro, Railways & Ports), Irrigation & Water Resources, Buildings & Property Development, Mining (Coal & other Minerals), Energy (Generation & Transmission) and other infrastructure Projects. The Order Book Position stood at Rs. 5441 Crores as at the end of the period 30th September, 2018.
Madhucon is now fully focusing on EPC projects and also item rate projects works. MPL is known for qualitv construction and timely execution.
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For further information about Madhucon Group, visit www. madhucon.com.
Place: Hyderabad ._ _: Date212/11/2018
For, Madhucon Projects Limited,
m :Managing Director DIN: 00784491