Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

Madhucon Projects Ltd. Interim / Quarterly Report 2020

Nov 28, 2019

61181_rns_2019-11-28_6ed70575-0a25-4e70-a39d-a78195521032.pdf

Interim / Quarterly Report

Open in viewer

Opens in your device viewer

Ref.: MPL/CS/HYD/2019

Date: 26-11-20'19

To The National Stock Exchange (NSE) of India Limited, Sth Floor, Exchange Plaza, Bandra (East), Mumbai- 400 051.

Dear Sirs,

Kind Attn: Ligtinq Depar"tment / Cqrporate Relationship Fgpartment

Sub.: Submission of financiat results 2nd Quarter ended 30th September, 2019- Reg.

Ref.: 1. Your email dt: 25-1 1-2019 2. BSE Script code: 531497 & NSE Script code: MADHUCON.

With reference to the above subject, we have inadvertently missed some pages when doing the document in machine readable language, Kindly find the total report for your records, We request the exchange to take this on record and further request the exchange to take lenient view on the matter since the company has complied with all other requirements under SEBI(LODR) Regulations 2015,

Kindly take a lenient view

Thanking you,

For Madhucon Projects Limited

OnO lotowq"l<

(K.Rajani) Company Secretary FCS: 8026

Encl: As above.

"STAR EXPORT HOUSE" Recognised by Government of India

Corporate Of{ice : No. 578/8, First Floor, Service Road, 100 Feet Ring Road, 6th Sector, Teacher's Colony, HSR Layout, Bangalore - 560 034' Kamataka, India. Tel: +91 80-25041500 I 01102/03104 P6;q; +91 80-25041505 / 506

www.madhucongranites.com

Gang Saw Unit : D.No. 139, Addakurukfti (V), Kamandoddi (Po), Hosur (Tk), Ikishnagiri (Dt.) Tamil Nadu - 635 109, lndia. Tel : +91 4344 - 200633 Fax: +91 43M-257440 tSO 9001 : 2008 (100% EoU)

Regd.Office:#l-7-70, Madhu Complex, Jublipura, Khammam - 507 003. Telangana, India. Tel: +91-8742-225-141 I 225381 Fax: +91-8742-224408

CIN : U13209TG1988PLC008311

Ref.: MPL/CS/HYD/2019

Date: 14-11-2019

To

The Bombay Stock Exchange (BSE) The National Stock Exchange (NSE) of India
Corporate Relationship Dept., Limited,
1st Floor, New Trading Ring 5th Floor, Exchange Plaza,
Rotunda Building, PJ Towers Bandra (East),
Dalal Street, Fort, Mumbai- 400 051.
Mumbai -400 001

Dear Sirs.

Kind Attn: Listing Department / Corporate Relationship Department

  • Sub.: Submission of Un-Audited Standalone & Consolidated Financial Results for the Quarter and Half year ended 30th September, 2019-Reg.
  • Ref.: 1. BSE Scrip Code: 531497, NSE Scrip Code: MADHUCON
      1. Regulation 33 & 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In furtherance to the Board meeting Notice dated 02ndSeptember, 2019, we wish to inform you that at the meeting of Board of Directors of M/s Madhucon Projects Ltd., held today i.e., on 14th November, 2019, the Board considered and approved the Un-Audited Standalone & Consolidated Financial Results for the Quarter and Half Year ended 30th September, 2019. The said Un-Audited Financial Results were reviewed by the Audit Committee and thereafter approved by the Board.

Pursuant to Regulation 33 of the of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, statement showing the Un-Audited Standalone & Consolidated Financial Results for the Quarter and Half year ended 30th September, 2019 along with limited review report of the Statutory Auditors are enclosed herewith.

The Meeting of the Board of Directors of the Company commenced at 02:00 P.M and concluded at 07:15 P.M.

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,

For Madhucon Projects Limited

Ratary.12

(K Rajani) Company Secretary FCS: 8026

Encl: As above.

Corp. Office : "Madhucon House", 1129/A, Road No. 36, Jubilee Hills, Hyderabad - 500 033, Telangana, India Tel: +91-40-23556001 - 4 Fax: +91-40-23556005 E-mail: [email protected] Regd. Office: H.No.1-7-70, Jublipura, Khammam, Telangana - 507 003, India

MADHUCON PROJECTS LIMITED

CIN-L74210TG1990PLC011114

Regd. Office:1-7-70, Jublipura, Khammam - 507003, Telangana

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2019

(Rs. In Lakhs)
Standalone
SI.No Particulars Standalone 6Month Ended Year ended
30.09.2019 30.06.2019 30.09.2018 30.09.2019 30.09.2018 31.03.2019
PART-I Unaudited Unaudited Unaudited Unaudited Unaudited Audited
J Revenue from Operations 5,713.78 10,070.40 14,912.03 15,784.18 30.913.68
Ш Other income 50.05 50.05 427.86 100.10 66,944.33
Ш Total Income (I+II) 5,763.83 10,120.45 15,339.89 15,884.28 643.58 1,540.56
IV Expenses: 31,557.26 68,484.89
(a) Cost of Materials Consumed 5,201.18 9,348.66 11,222.43
(b) Changes in Inventory of Finished goods, Work-in- 14,549.84 23,611.73 58,666.41
Progress and stock-in-trade
(c) Employee benefits expense 532.09 617.06 678.51 1,149.15 1,551.57 3,000.88
(d) Other expenses 573.65 248.15 894.18 821.80 1,718.25 4.395.45
(e) Financial Costs 207.40 250.99 3,322.36 458.39 5,709.63 2,252.53
(f) Depreciation and amortisation expense 213.16 200.80 190.96 413.96 380.26 771.31
Total Expenses 6,727.48 10,665.66 16,308.44 17,393.14 32,971.44 69,086.58
V Profit/(Loss) Before Exceptional Items and tax (III-IV) (963.65)
(545.21) (968.55) (1, 508.86) (1, 414.18) (601.69)
٧I Exceptional Items
VII Profit/(Loss) Before Tax (V-VI) (963.65) (545.21) (968.55) (1, 508.86) (1, 414.18) (601.69)
VIII Tax Expense
a) Current Tax
b) Adjustments relating to earlier years
a) Deferred Tax 1,292.90 (182.40) (489.15) 1,110.50 (489.15) (2.462.40)
$\mathcal{C}$ Total Tax (a+b) 1,292.90 (182.40) (489.15) 1,110.50 (489.15) (2,462.40)
IX Profit/(Loss) from continuing operations (VII-VIII) (2, 256.55) (362.31) (479.40) (2,619.36) (925.03) 1,860.71
x Profit/(Loss) from discontinued operations
XI Tax Expense of discontinued operations
XII Profit/(Loss) from discontinued operations after tax (X-
XIII x١١Profit/Loss for the period (IX+XII) (2, 256.55)
Attributable to: (362.81) (479.40) (2,619.36) (925.03) 1,860.71
- Share Holders of the Parent Company
- Non Controlling Interest
XIV Other Comprehensive Income (net of tax)
A) Items that will not be reclassified to profit or loss(i)Re-measurement gains/(losses) on defined benefit
plans 34.45
Share of Other Comprehensive income transferred to
Non Controlling interest(ii) Income tax relating to these items
B) (i) Items that will be reclassified to profit or loss
(ii) Incometax relating to these items ٠
Total Other Comprehensive income, net of tax $\omega$ ٠ ۰ 34.45
Attributable to:
- Share Holders of the Parent Company
- Non Controlling Interest
XV
Total Comprehensive Income (XIII+XIV) (2, 256.55) (362.81) (479.40) (2,619.36) (925.03) 1,895.16
Attributable to:- Share Holders of the Parent Company
- Non Controlling Interest
XVI Paid - up Equity Share Capital (Face value of Rs.1/- pershare) 737.95 737.95 737.95 737.95 737.95 737.95
XVII Toal Reserves i.e Other equity
Earning per share (of Rs.1/- each) (not annualised) (for
(VIII discontinued and continuing operations)
- Basic and Diluted (3.06) (0.49) (0.65) (3.55) R596

$Vd$

Notes:

  • ---The above results have been reviewed by the Audit Committee at its meeting held on November 14, 2019 and approved by the Board 1 of Directors of the Company at its meeting held on November 14, 2019. The Statutory Auditors have carried out limited review of the unaudited financial results for the Quarter ended September 30, 2019.
  • The Company's operations primarily consists of construction-project activities and there are no other reportable segments under Ind AS $\overline{2}$ 108 "Operating Segments".

for and on behalf of the Board of Directors

Pro ethaigh N Б anaging Director Vderab

Place: Hyderabad Date: 14-11-2019

MADHUCON PROJECTS LIMITED STANDALONE BALANCE SHEET

(Rs. In Lakhs)
S. Particulars StandaloneAudited
No. 30.09.2019 31.03.2019
1 ASSETS
Non-current assets
(a)Property, Plant and Equipment 4,586.98 4,909.46
(b) Financial Assets
(i) Investments 1,71,565.38 1,71,565.38
(ii) Trade receivables 534.81 484.36
(iii) Loans 5,134.32 5,133.46
(iv) Others Financial Assets 12,155.43 11,750.39
(c) Deferred Tax Asset 3,653.71 4,764.21
(d) Other non-current assets 19,741.35 19,734.59
Sub-total Non-current assets 2,17,371.98 2,18,341.84
$\overline{2}$ Current assets
Inventories(a) 3,424.25 4,281.51
Financial Assets(b)
Investments(i)
(ii)Trade receivables 18,738.94 25,780.64
Cash and cash equivalents(iii) 879.33 1,065.81
Bank balances other than (iii) above(iv) 577.65 239.78
Loans(v) 12,160.50 7,196.48
Others Financial Assets$(v_i)$ 4,739.46 7,127.25
(c) Current tax asset (net) 16,080.99 14,070.65
(d) Other current assets 17,419.54 18,550.60
Sub-total Current assets 74,020.66 78,312.72
Total Assets 2,91,392.64 2,96,654.57
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital 740.32 740.32
(b) Other Equity 78,102.67 80,722.03
Less: Profit or Loss from Associates
Sub-total Other Equity 78,842.99 81,462.36
Non Controlling Interest
Sub-total Equity 78,842.99 81,462.36
LIABILITIES
1 Non-current liabilities
(a) Financial Liabilities
Borrowings(i) 2,786.36 2,791.42
Trade payables(ii) 8,693.83 8,167.38
Other financial liabilities(iii) 6,438.81 6,457.71
(b) Provisions 173.83 173.83
(c) Deferred tax liabilities (Net)
(d) Other non-current liabilities 7,255.99 9,714.99
Sub-total Non-current liabilities 25,348.81 27,305.33
$\overline{2}$ Current liabilities
(a) Financial Liabilities
Borrowings(i) 65,679.18 65,672.57
Trade payables(ii) 47,374.29 48,895.96
Other financial liabilities(iii) 12,959.60 13,228.17
(b) Other current liabilities 41,045.48 41,614.59
(c) Provisions 4,762.92 4,762.92
(d) Current tax liabilities (net) 15,379.37 13,712.67
Sub-total Current liabilities 1,87,200.84 1,87,886.88
Total Equity and Liabilities 2.91.392.64 2.96.654.57

For Significant Accounting Policies see notes to accounts forming part of Financial Statements

for and on behalf of the Board of Directors

$\cdot$ ,

$\mathbf{r} = \mathbf{r}$

$\overline{\theta}$

Place:Hyderabad Date:14-11-2019

$\cdot$

$\epsilon=\epsilon^2-\frac{1}{4}$ if

$\mathcal{A}$

MADHUCON PROJECTS LIMITED Cash Flow Statement for the Half Year ended September 30, 2019

Rs. In Lakhs
Six month ended Year ended
Particulars September 30, September 30, March 31,
2019 2018 2019
A Cash flow from operating activities
Profit/(loss) before income tax (1,508.86) (1, 414.20) (601.68)
Adjustments for:
Depreciation and amortisation expense 413.96 380.26 771.31
Dividend and interest income classified as investing cash flows (11.94) (48.91) (77.15)
Finance costs 458.39 5,709.63 2,252.53
Change in operating assets and liabilities
(Increase)/decrease in trade receivables 6,991.25 1,506.50 (6, 121.48)
(Increase) decrease in inventories 857.26 411.14 211.91
(Increase)/decrease in other financial assets (27.58) (3,974.86) (3, 496.37)
(Increase)/decrease in other current and non-current assets 1,124.30 (1, 384.22) (358.30)
(Increase) decrease in other bank balances (337.87) 21.38 18.35
Increase/(decrease) in Loans (4,964.88) (48.75) (8.38)
Increase/(decrease) in trade payables (995.23) 3,280.81 8,785.39
Increase/(decrease) in other financial liabilities 1,379.24 3,333.10 8,262.58
Increase/(decrease) in other current and non-current liabilities (3,028.12) (6,614.07) (19, 291.42)
Increase/(decrease) in Non current Investments 5,616.00
Cash generated from operations 349.92 1,157.80 (4,036.74)
Income taxes paid
Net cash inflow from operating activities 349.92 1,157.80 (4,036.74)
$, {\bf B}$ Cash flows from investing activities
Payments for property, plant and equipment (91.49) (353.18) (533.03)
Payments for purchase of investments
Dividend paid
Interest received 11.94 48.91 77.15
Net cash outflow from investing activities (79.55) (304.27) (455.87)
с Cash flows from financing activities
Proceeds/(Repayment) of long term borrowings (5.06) (519.25) (1,767.19)
Proceeds from short term borrowings (net) 6.60 4,072.19 7,778.83
Interest paid (458.39) (5,709.63) (2, 252.53)
Net cash outflow from financing activities (456.85) (2, 156.70) 3,759.11
Net increase/(decrease) in cash and cash equivalents (186.47) (1, 303.17) (733.51)
Cash and cash equivalents at the beginning of the financial year 1,065.81 1,799.32 1,799.32
Cash and cash equivalents at end of the year 879.33 496.15 1,065.81

The above statement of cash flows should be read in conjunction with the accompanying notes. As per our Report of even date attached

For and on behalf of the Board of Directors

Pro N ethaiah Yydere Managing Director

Place: Hyderabad Date: 14.11.2019

MADHUCON PROJECTS LIMITED CIN-L74210TG1990PLC011114

$\frac{1}{3}$

Regd. Office:1-7-70, Jublipura, Khammam - 507003, Telangana

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2019
(Rs. in Lakhs)
Consolidated
SI.No Particulars 3 Month ended 6Month Ended Year ended
30.09.2019 30.06.2019 30.09.2018 30.09.2019 30.09.2018 31.03.2019
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
PART-I
J Revenue from Operations 10,105.07 14,373.46 22,663.55 24,478.53 43,173.27 94,244.01
Ш Other income 1,006.00 1,051.28 627.40 2,057.28 1,088.56 4,074.00
ш Total Income (I+II) 11,111.07 15,424.74 23,290.95 26,535.81 44,261.83 98,318.01
IV Expenses:(a) Cost of Materials Consumed
(b) Changes in Inventory of Finished goods, Work-in-Progress 8,136.38 11,071.29 13,086.53 19,207.67 26,029.77 71,345.13
and stock-in-trade (520.06) 621.54 2,604.44 101.48 2,623.20 3,489.78
(c) Employee benefits expense 985.75 1,016.60 1,165.35 2,002.35 2,455.13 4,519.33
(d) Other expenses 981.61 1,534.33 4,556.54 2,515.94 6,513.31 9,153.31
(e) Financial Costs (3, 472.92) 5,363.41 (935.44) 1,890.49 8,903.90 27,904.87
(f) Depreciation and amortisation expense 6,655.16 6,610.38 5,814.49 13,265.54 11,431.14 22,420.08
Total Expenses 12,765.92 26,217.55 26,291.91 38,983.47 57,956.45 1,38,832.50
V Profit/(Loss) Before Exceptional Items and tax (III-IV) (1,654.85) (10, 792.81) (3,000.96) (12, 447.66) (13,694.62) (40, 514.49)
VI Exceptional Items
VII Profit/(Loss) Before Tax (V-VI) (1,654.85) (10,792.81) (3,000.96) (12, 447.66) (13,694.62) (40, 514.49)
VIII Tax Expense
a) Current Tax
b) Adjustments relating to earlier years
a) Deferred Tax 1,292.90 (182.40) (489.15) 1,110.50 (489.15) (2,462.40)
Total Tax (a+b) 1,292.90 (182.40) (489.15) 1,110.50 (489.15) (2,462.40)
IX Profit/(Loss) from continuing operations (VII-VIII) (2,947.75) (10,610.41) (2, 511.81) (13, 558.16) (13, 205.47) (38,052.09)
x Profit/(Loss) from discontinued operations
XI Tax Expense of discontinued operations
XII Profit/(Loss) from discontinued operations after tax (X-XI)
XIII Profit/Loss for the period (IX+XII) (2,947.75) (10,610.41) (2, 511.81) (13, 558.16) (13, 205.47) (38,052.09)
Attributable to:
- Share Holders of the Parent Company (2,503.80) (9,681.83) (1,951.49) (12, 185.63) (11,657.55) (34, 389.06)
- Non Controlling Interest (443.96) (928.57) (560.32)
XIV Other Comprehensive Income (net of tax) (1,372.53) (1, 547.92) (3,663.03)
A) Items that will not be reclassified to profit or loss
(i)Re-measurement gains/(losses) on defined benefit plans 6.75 (6.76) 1.79 (0.01) 107.91
Share of Other Comprehensive income transferred to Non 0.35 (0.36) 0.10 (0.01) 13.05
Controlling interest
(ii) Income tax relating to these items
B) (i) Items that will be reclassified to profit or loss
(ii) Incometax relating to these items $\sim$
Total Other Comprehensive income, net of tax 7.10 (7.12) 1.89 (0.02) ¥ 94.85
Attributable to:
- Share Holders of the Parent Company (2,496.70) (9,688.59) (1,949.60) (12, 185.64) (11,657.55) (34, 294.21)
- Non Controlling Interest
XV Total Comprehensive Income (XIII+XIV) (2,496.70) (9,688.59) (1.949.60) (12, 185.64) (11.657.55) (34, 294.21)
Attributable to:
- Share Holders of the Parent Company
- Non Controlling Interest
XVI Paid - up Equity Share Capital (Face value of Rs.1/- per share) 737.95 737.95 737.95 737.95 737.95 737.95
Earning pershare (of Rs.1/- each) (not annualised) (for
XVII continuing operations)
- Basic and Diluted (3.38) (13.12) (2.64) (16.51) (15.80) (46.60)
Earning pershare (of Rs.1/- each) (not annualised) (for
XVIII discontinued operations)
- Basic and Diluted
XIX Earning per share (of Rs.1/- each) (not annualised) (for
discontinued and continuing operations)'- Basic and Diluted (3.38) $'$ (13.12) (2.64) (16.51) (15.80) (46.60)

Notes:

$\geq$

The above results have been reviewed by the Audit Committee at its meeting held on November 14, 2019 and approved by the Board of Directors of the Company at its meeting held on November 14, 2019. The Statutory Auditors have carried out limited review of the unaudited T

financial results for the Quarter ended September 30, 2019. The Company's operations primarily consists of construction-project activities and there are no other reportable segments under Ind AS 108 $\overline{c}$

"Operating Segments".

For and on behalf of the Board of Directors

Place: Hyderabad Date: 14-11-2019

MADHUCON PROJECTS LIMITED

CONSOLIDATED BALANCE SHEET

(Rs. in Lakhs)
S. Consolidated
No. Particulars Audited
$\overline{\phantom{a}}$ 30.09.2019 31.03.2019
$\mathbf{1}$ ASSETS
Non-current assets
Property, Plant and Equipment(a) 3,05,498.51 3,13,217.93
Capital Work in Progress 15,108.41 15,106.39
Intangible Assets 1,14,890.20 1,20,339.13
Investment Properties 61.46 61.46
(b) Financial AssetsInvestments
(i)Trade receivables(ii) 53.58 53.58
(iii) Loans 5,300.23 .5,298.36
(iv) Others Financial Assets 91,915.03 92,174.86
(c) Deferred Tax Asset 3,653.71 4,764.21
(d) Other non-current assets 23,086.03 22,947.01
Sub-total Non-current assets 5,59,567.16 5,73,962.93
$\overline{2}$ Current assets
(a) Inventories 5,329.63 6,288.37
(b) Financial Assets
Investments(i) 48.09 210.30
Trade receivables(ii) 2,104.79 3,666.80
(iii) Cash and cash equivalents 4,701.51 3,344.58
Bank balances other than (iii) above(iv) 773.30 435.64
Loans(v) 209.81 168.33
(vi) Others Financial Assets 1,47,791.82 1,50,362.78
(c) Current tax asset (net) 16,518.12 14,528.15
(d) Other current assets 16,834.54 17,561.58
Sub-total Current assets 1,94,311.61 1,96,566.53
Total Assets 7,53,878.77 7,70,529.46
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital 740.32 740.32
(b) Other Equity (2, 26, 492.68) (2, 12, 984.36)
Less: Profit or Loss from Associates
Sub-total Other Equity (2, 25, 752.36) (2, 12, 244.04)
Non Controlling Interest (6, 188.54) (4, 648.58)
Sub-total Equity (2,31,940.90) (2, 16, 892.62)
LIABILITIES
1 Non-current liabilities
(a) Financial Liabilities
Borrowings(i) 3,10,228.56 3, 12, 341. 35
Trade payables(ii) 8,633.05 8,256.36
(iii) - Other financial liabilities 6,436.32 759.76
(b) Provisions 18,682.47 12,281.87
(c) Deferred tax liabilities (Net) 5.03 5.03
(d) Other non-current liabilities 7,255.99 7,459.52
Sub-total Non-current liabilities 3,51,241.42 3,41,103.89
$\overline{2}$ Current liabilities
(a) Financial Liabilities
Borrowings(i) 2,63,951.20 2,63,408.56
Trade payables(ii) 64,527.45 65,705.91
Other financial liabilities(iii) 2,06,472.06 2,11,250.01
(b) Other current liabilities 66,811.72 70,502.51
(c) Provisions 17,432.54 21,734.48
(d) Current tax liabilities (net) 15,383.28 13,716.72
Sub-total Current liabilities 6,34,578.25 6,46,318.19
Total Equity and Liabilities 7.53.878.77 7.70.529.46

For Significant Accounting Policies see notes to accounts forming part of Financial Statements

For and on behalf of the Board of Directors

$\odot$

$Prof$ Managing Director Myder8

MADHUCON PROJECTS LIMITED Cash Flow Statement for the Half year ended September 30, 2019

Particulars Six month ended (Rs. in Lakhs)Year ended
September 30,2019 September 30,2018 March 31,2019
A Cash flow from operating activities
(Loss) / Profit before tax (12, 447.66) (13, 694.62) (40, 514.49)
Adjustments for:
Depreciation and amortisation expense 13,265.54 11,431.14 22,420.08
Dividend Income (1.05) (24.18) (32.70)
Interest Income (12.52) (48.91) (144.05)
Receivables / Advances Written Off
(Profit) / Loss on sale of Assets $\overline{\phantom{a}}$ (113.06) (113.06)
Foreign Exchange (Gain) / Loss
Finance costs 1,890.49 8,903.90 27,904.87
15,142.46 20,148.89 50,035.14
Operating Profit Before Working Capital Changes 2,694.80 6,454.27 9,520.65
Change in Working Capital
(Increase)/decrease in Trade Receivables (2, 288.06) (551.42)
(Increase)/decrease in Inventories 958.76 3,714.17 3,714.17
(Increase)/decrease in Other Financial Assets 3,411.38 (16, 878.39) 4,254.50
(Increase)/decrease in Other Current and Non-Current Assets (1,401.95) (7,804.86) (8, 455.03)
Increase/(decrease) in Loans (43.34) (4.30) (4.30)
Increase/(decrease) in Trade Payables (801.78) 8,217.24 8,747.02
Increase/(decrease) in Other Financial Liabilities (196.19) 3,924.40 (1, 280.33)
Increase/(decrease) in Other Current and Non-Current Liabilities (3,506.02) 4,850.06 6,413.22
Cash generated from operations 1,115.66 184.53 22,358.48
Income taxes paid (3, 484.83) 3,353.45 3,353.45
Net cash from operating activities 4,600.49 (3, 168.92) 19,005.03
B Cash flows from investing activities
Purchase of Property, Plant and Equipment including CWIP (99.21) (797.55) (797.55)
Proceeds from Sale of Property, Plant and Equipment (17.10) (17.10)
Purchase of Investments i. $\omega$
(Increase) / decrease in other bank balances (792.08) 967.83 967.83
Dividend Received 1.05 24.18 32.70
Interest Received 12.52 48.91 144.05
Net cash used in investing activities. (877.72) 226.27 329.93
C Cash flows from financing activities
Proceeds/(Repayment) of long term borrowings (1, 017.99) (1,03,775.23) (1,02,542.34)
Proceeds from short term borrowings (net) 542.64 1,10,058.18 1,10,058.18
Dividend paid
Interest paid (1,890.49) (8,903.90) (27, 904.87)
Net cash used in financing activities (2, 365.84) (2,620.95) (20, 389.03)
Net increase/(decrease) in cash and cash equivalents 1,356.93 (5,563.60) (1,054.07)
3,344.58 4,398.65 4,398.65
Cash and cash equivalents at the beginning of the financial year
Cash and cash equivalents at end of the year 4,701.51 (1, 164.95) 3,344.58
Reconciliation of cash and cash equivalents as per the cash flowstatement September 30,2019 September 30,2018 March 31, 2018
Reconciliation of cash and cash equivalents as per with the 4,701.51 2,759.16 3,344.58
Cash and cash equivalents at end of the year 4,701.51 2,759.16 3,344.58

The accompanying notes are an integral part of the consolidated financial statements

For and on behalf of the Board of Directors

Place: Hyderabad Date: 14-11-2019 $(\cdot)$

P. MURAL! & CO • 5 CHARTERED ACCOUNTANTS 6-3-655/2/3, SOMAJIGUDA, HYDERABAD - 500 082. INDIA

Tel. : (91-40) 2332 6666, 2331 2554 2339 3967, 2332 1470 Fax : (91-40) 2339 2474 E-mail : [email protected] [email protected] Website : www.pmurali.com

To The Board of Directors, Madhucon Projects limited

Limited Review Report for the quarter ended and half year ended 30thSeptember 2019

    1. We have reviewed the accompanying Consolidated Unaudited Financial Results ("the Statement") of Madhucon Projects Limited("the Parent"), its subsidiaries (the Parent and its-subsidiaries together referred to as "the Group"), and its step down subsidiaries for the quarter ended and half year ended 30thSeptember 2019 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended and half year ended 30th September 2018, as reported in the accompanying Statement have been approved by the Parent's Board of Directors, but have not been subjected to review by us.
    1. This Statement, which is the responsibility of the Parent's Management and approvedby the Parent's Board of Directors at their meeting held on 14th November 2019, has been prepared 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, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
    1. We conducted our review ofthe 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. 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. Accordingly, we do not express an audit opinion.

P. MURALI & CO., CHARTERED ACCOUNTANTS 6-3-655/2/3, SOMAJIGUDA, HYDERABAD - 500 082. INDIA

Tel. Fax E-mail : (91-40) 2332 6666, 2331 2339 3967, 2332 : (91-40) 2339 2474 : [email protected] [email protected] 2554 1470 Website : www.pmurali.com

We also performed procedures in accordance with the circular issued by the SEBlunder Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

  1. The Statement includes the results of the following entities

Subsidiaries

    1. Madhucon Infra Limited
    1. Madurai Tuticorin Expressways Limited
    1. Madhucon Mega Mall Pvt Limited
    1. Nama Hotels Pvt Limited
    1. Madhucon Heights Pvt Limited

Step Down Subsidiaries

    1. TN(DK) Expressways Limited
    1. Trichy Tanjavur Expressways Ltd
    1. Chhaprahajipur Expressways Limited
    1. Barasat Krishnagar Expressways Limited
    1. Ranchi Expressways Ltd
    1. Simhapuri energy limited
    1. Madhucon Toll Highways Limited
    1. Vijayawada-Machilipatnam limited
    1. Rajauli Bakthiyapur Expressways Limited
    1. PT Madhucon Indonesia.

Associate

    1. Madhucon Properties Limited
    1. The group companies Madhucon Projects Ltd, Madhucon Infra Ltd, Simhapuri Energy L td,TN (DK) Expressways Limi ted,Ma dhucon Tuticorin Expressway ltd,Trichy Tanjavur Expressways ltd,Ranchi Expressway Ltd, Chhaprahajipur expressway limited and Barasat Krishnagar Expressways Ltd havenot provided for interest amounting to Rs. 252.26 Crores and 468.68 Crores (excluding penal interest, if any) for the quarter ended and half year ended 30thSeptember, 2019 respectively on its Loans. The loss of the group has been understated by Rs.252.26Crores and 468.68 Crores for the quarterended and half year ended 30thSeptember, 2019 respectively in view of non-provision of Interest amount.
    1. The consolidated unaudited financial results includes the interim financial information of one Subsidiary and eight step down subsidiaries which have been reviewed by their auditors whose report has been furnished to us by the management andwhose interim financial information reflect total revenue of Rs. 105.19Crores, total net Income after tax of Rs. (23.42) Crores and total comprehensive Income of Rs. (23.42) Crores for the quarter ended 30th September 2019,respectively, as"erred in the consolidated unaudited financial results.

6-3-655/2/3, SOMAJIGUDA, HYDERABAD - 500 082. INDIA

P. MURAL! & CO., Tel. : (91-40) 2332 6666, 2331 2554 2339 3967, 2332 1470 CHARTERED ACCOUNTANTS Fax : (91-40) 2339 2474 E-mail : [email protected] [email protected] Website : www.pmurali.com

The one out of ten stepdown subsidiaries is located outside India whose interim financial information have been prepared in accordance with accounting principles Generally accepted in their respective countries. The Parent Company's Management has converted these interim financial information from accounting principles generally accepted in their respective countries, to Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act. 2013 and other accounting principles generally accepted in India. We have reviewed these conversionadjustments made by the Parent Company's Management. Our conclusion in so far asit relates to such step down subsidiary located outside India is based on theaforesaid conversion adjustments prepared by the Parent Company's Management. According to the information and explanations given to us by theManagement, this interim financial information are not material to the Group.

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

For P. Murali & Co., Chartered Accountants FRN: 007257S

A. Krishna Rao Partner M.No.020085 UDIN:19020085AAAAQF1158

Place: Hyderabad Date: 14-11-2019

P. MURAL! & CO "5 CHARTERED ACCOUNTANTS 6-3-655/2/3, SOM AJ I G U DA, HYDERABAD - 500 082. INDIA

Tel. Fax E-mail : (91-40) 2332 6666, 2331 2339 3967, 2332 : (91-40) 2339 2474 : [email protected] [email protected] 2554 1470 Website : www.pmurali.com

To

The Board of Directors, Madhucon Projects limited, Jubilee Hills, Hyderabad India.

Limited Review Report for the quarter ended and half year ended 30th September 2019

    1. We have reviewed the accompanying statement of unaudited standalone financial results ('the statement") of Madhucon projects Ltd (the 'Company') for the quarter ended and half year ended30th September, 2019.This statement which is the responsibility of the Company's management and approved by the Board of Directors of the company at their meeting held on 14th November, 2019, has been prepared 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 and other Accounting Principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
    1. We conducted our review 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 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.

P. MURAL! & CO., CHARTERED ACCOUNTANTS 6-3-655/2/3, SOMAJ I G U DA HYDERABAD - 500 082. INDIA

Tel. Fax E-mail : (91-40) 2332 6666, 2331 2339 3967, 2332 : (91-40) 2339 2474 : [email protected] [email protected] 2554 1470 Website : www.pmurali.com

    1. The Company has defaulted in repayment of dues to Banks for the quarter ended 30th September, 2019. All the loans outstanding were classified as Non Performing Asset (NPA) by the Banks. The Company has not provided for interest amounting to Rs. 23.27 Crores and 46.19 Crores (excluding penal interest, if any) for the quarter ended and half year ended 30th September, 2019 respectively on its Loans. The loss of the Company has been understated by Rs.23.27 Crores and 46.19 Crores for the quarter ended and half year ended 30th September, 2019 respectively in view of non-provision of Interest amount.
    1. Based on our review conducted as above except as mentioned in paragraph 3, 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 July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For P. Murali & Co., Chartered Accountants FRN: 007257S

A. Krishna Rao Partner M.No.020085 UDIN: 19020085AAAAQE5019

Place: Hyderabad Date: 14-11-2019

More from Madhucon Projects Ltd.

Report Publication Announcement 2026
May 29
Report Publication Announcement 2026
May 29
Interim / Quarterly Report 2026
May 28
Interim / Quarterly Report 2026
May 28
Regulatory Filings 2026
May 25
Regulatory Filings 2026
May 25
Regulatory Filings 2026
May 25
Board/Management Information 2026
May 25
Regulatory Filings 2026
May 21
Regulatory Filings 2026
Apr 24
View all filings →