Mahalaxmi Rubtech Ltd. — Annual Report 2021

May 31, 2021

U jj

M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS

Ref: MRT/CS/Correspondence/2021-22/07

Date: May 31, 2021

To, BSE Limited

Phiroze Jeejeebhoy Tower, Dalai Street, Mumbai - 400 001.

Dear Sir,

Sub: Outcome of the Board Meeting dated May 31,2021.

Company / Script Code: 514450

Please take a note that the meeting of Board of Directors of the company held on Monday the 31st day of May, 2021 at the Administrative office of the Company, Interalia has transacted and approved the following businesses:

1. Considered and approved the Audited (Standalone and Consolidated) Financial Results and Statement of Asset and Liabilities along with Auditor’s Report thereon, of the Company for the Fourth Quarter and Financial Year ended on 31st March, 2021.

Pursuant to Regulation 33 of SEB1 (Listing obligation and Disclosure Requirement) Regulation, 2015, we enclose the following:

• (1) A copy of Audited (Standalone And Consolidated) Financial Results and statement of Asset and Liabilities of the Company for the quarter and year ended on March 31, 2021 along with Auditor's Report thereon.

• (2) Declaration with respect of Auditor’s Report with unmodified opinion on the annual audited Financial Statements (Standalone and Consolidated) for the Financial Year ended March 31, 2021.

The meeting of Board of Directors commenced at 05.00 p.m. and concluded at 07.35 p.m.

Please take the same on record and oblige.

Yours faithfully,

For, Mahalaxmi Rubtech Ltd

==> picture [326 x 90] intentionally omitted <==

WORKS: UMA INDUSTRIAL ESTATE, PHASE III, VILLAGE: VASNA-IYAVA, TALUKA: SANAND, DISTRICT: AHMEDABAD - 382 170. INDIA. TELEPHONE: 02717-284309, 284310 FAX: 02717-284152 E-MAIL: m rt@ m rtglobal.com WEBSITE: w w w .m rtglobal.com

REGD. OFFICE:

CORPORATE OFFICE:

MAHALAXMI HOUSE, YSL AVENUE, OPR KETAV PETROL PUMR POLYTECHNIC ROAD, AMBAWADI, AHMEDABAD - 380 0 15, INDIA.

47i NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: +91 -79-22160776

TELEPHONE: +91-79-40008000 FAX: +91-79-40008030

CIN NO.: L25190GJ1991PLC016327

O ffice: C-3 4 4, Sum el-1 1 , Nr. Nam askar Circle, Shahibaug, Ahm edabad - 380 004 Ph: 079 - 4895 1100 CA

1 (C [ain chowdhary ] H A R T E R E D A C C O U N [&] T A [ Co.] N T S

Cell: 90166 90045 E-mail: jcc.ahmedabad@gmail.com Website: www.jainchowdhary.com

Independent Auditor’s Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

ToThe Board of Directors of Mahalaxmi Rubtech Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of Mahalaxmi Rubtech Limited (the "Company") for the quarter ended March 31,2021 and for the year ended March 31, 2021 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the statement:

• (i) is presented in accordance with the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and

• (ii) gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive loss and other financial information of the Company for the quarter ended March 31, 2021 and for the year ended March 31,2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We arc independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that arc relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to Note 08 to the standalone financial results, which describes the uncertainties and the impact of Covid-19 pandemic on the Company's operations and results as assessed by the management. Our opinion is not modified in respect of this matter.

Head Office : 104, Model Residency, B. J. Marg, Jacob Circle, Mahalaxmi, Mumbai - 400 011 Branches : Jaipur I Ajmer I Faridabad I Taipei I

O ffice: C-344, S u m e l-ll, Nr. Nam askar Circle, ✓“ A , Shahibaug, Ahm edabad - 380 004 Ph: 079 - 4895 1 1 0 0

Jain chow dhary & Co. C H A R T E R E D A C C O U N T A N T S

Cell: 90166 90045 E-mail: jcc.ahmedabad@gmail.com Website: www.jainchowdhary.com

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive loss of the Company and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility include maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

==> picture [94 x 94] intentionally omitted <==

Head Office : 104, Model Residency, B. J. Marg, Jacob Circle, Mahalaxmi, Mumbai - 400 011 Branches : Jaipur I Ajmer I Faridabad I Taipei I

O k ] CC [ain chowdkary & Co.] H A R T E R E D A C C O U N T A N T S

O ffice: C-3 4 4, Sum el-1 1 , Nr. Nam askar Circle, Shahibaug, Ahm edabad - 380 004 Ph: 079 - 4895 1100

Cell: 90166 90045 E-mail: jcc.ahmedabad@gmail.com Website: www.jainchowdhary.com

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation

We Communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and wfiere applicable, related safeguards.

Other Matters

The Statement includes the results for the quarter ended March 31,2021 being the balancing figure between the audited figures in respect of the fill financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review7 by us, as required under the Listing Regulations.

For, Jain Chowdhary & Co. Chartered Accountants Firm Registration No. 113267W

==> picture [92 x 15] intentionally omitted <==

----- Start of picture text -----

| ( j s ( f RN : 113267W J o ) ]
----- End of picture text -----

Place : Ahmedabad Date : May 31,2021

edra^ Partner Membership No.: 147413 UDIN: 21147413AAAABP6267

Head Office : 104, Model Residency, B. J. Marg, Jacob Circle, Mahalaxmi, Mumbai - 400 011 Branches : Jaipur I Ajmer I Faridabad I Taipei I

M ahalaxmi RubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS

STATEMET OF AUDITED STANDALONE FINANCIAL RESULTS FOR QUARTER AND YEAR ENDED MARCH 31,2021

							(Rs.in Lacs)
				STANDALONE
		QUARTER ENDED				YEAR ENDEI YEAR ENDED
Sr.N 0 .	Particulars	31/03/2021 (Audited)	•31/12/2020 (Unaudited)	31/03/2020 (Audited)		31/03/2021 (Audited)	31/03/2020 (Audited)
1	Revenue from operations	5568.07	3859.63		4005.23	13664.14	17979.28
2	Other income	220.72	13.15		93.76	273.54	131.91
**3 **	Total Revenue (1+2)	5788.79	3872.77		4098.99	13937.68	18111.19
**4 **	Expenses:
a	Cost of Material Consumed	3223.31	1506.83		2428.61	6579.19	10089.42
b	Purchase of stoch -in - trade
	Changes in inventories of Finished Goods,
	Work in Progress & Stock in trade	4.52	528.63		-284.18	484.59	(149.33)
d	Employee benefits expense	348.13	288.32		338.86	1099.45	1322.63
e	Finance costs	209.20	29.96		21.48	313.09	151.71
f	Depreciation and amortisation expense	243.50	237.09		341.65	939.59	1005.59
g	Other expenses	1427.42	1034.41		1141.33	3738.02	5068.83
	Total Expenditure	5456.07	3625.24		3987.74	13153.92	17488.85
5	Profit from Operation before exceptional and entraordinary item and tax (3-4)	332.72	247.53		111.25	783.76	622.34
6	Exceptional Items	__	__		__	__	___
7	Profit before Extraordinary Item and tax(5-6)	332.72	247.53		111.25	783.76	622.34
8	Extraordinary Item	__	__		__	__	___
**9 **	Profit before Tax (7-8)	332.72	247.53		111.25	783.76	622.34
**10 **	Tax Expenses:
	Current Tax	55.32	95.91		52.79	216.33	222.89
	Deferred Tax	20.42	-34.15		-51.76	(42.61)	(82.21)
11	Profit for the periodfrom continuing operations(9-10)	256.98	185.77		110.22	610.04	481.66
12	Profit / loss from discontinuing operations	0.00	0.00		___	__	___
13	Tax expenses of discontinuing operations	0.00	0.00		___	___	__
**14 **	Profit / loss from discontinuing operations after Tax (12-13)	0.00	0.00		0.00	0.00	0.00
**15 **	Profit / loss for the period (11+14)	256.98	185.77		110.22	610.04	481.66
**16 **	Share of Profit / (Loss) of Associates	—	—		___	___	___
17 **18 **	Other Comprehensive Income (Net of tax) Total Comprehensive Income (After tax) (15+16+17)	14.36 271.34	2.69 188.46		7.94 118.16	19.89 629.93	13.58 495.24
19 **20 **	Other Equity Paid up Equity Share Capital (Face Value of Rs.10/- per Share)	1332.03	1332.03		1332.03	1332.03	7502.02 1332.03
**21 **	Earning per Equity Share
	Basic EPS (Rs.)	1.93	1.39		0.83	4.58	3.62
	Diluted EPS (Rs.)	1.93?			0.83	4.58	3.62
		----------------------£x
		if	■■)**m » **	■	■	— " —
CORPORATE OFFICE:		WORKS:	I O j!			REGD. OFFICE:

MAHALAXMI HOUSE, YSL AVENUE, OPR KETAV PETROL PUMR POLYTECHNIC ROAD, AMBAWADI, AHMEDABAD - 380 015, INDIA.

• UMA IN D l& f^ M . ESTATE, .PKASf III, VILLAGE: VASNA-IYAVA, TALUKA: S A^Atvl D^t>fSTJRi(CT^ AH M E DAB AD - 382 170, INDIA. TELEPHONE: 6 ^ ^ - 2 8 ^ ^ 2 8 4 3 1 0 FAX: 02717-284152

• 47, NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: +91-79-22160776

E-MAIL: mrt@mrtgloli>al'.com WEBSITE: w w w .m rtglobal.com

TELEPHONE: +91-79-40008000 FAX: +91-79-40008030

CIN NO.: L25190GJ1991PLC016327

iM i; ^ i M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS

						_____	_____	_____	(Rs.in Lacs)
							STANDALONE
	Particulars				QUARTER ENDED 31/03/2021 31/12/2020 31/03/2020 (Audited) (Unaudited) (Audited)			YEAR ENDED 31/03/2021 (Audited)	YEAR ENDED 31/03/2020 (Audited)
**1 **	Segment Revenue
	A. Rubber / Technical Textiles				. 950.69	745.56	733.69	2786.60	2740.94
	B. Textile				4762.29	3285.47	3357.85	11315.82	15580.01
	C. Unallocated
	Total				5712.98	4031.03	4091.54	14102.42	18320.95
	Less: Inter segmental revenue Net Sales / Income from operations				144.91 5568.07	171.40 3859.63	86.31 4005.23	438.28 13664.14	341.67 17979.28
**2 **	Segment Results (Profit	(+)/Loss		(-)
	before tax and Interest}
	A. Rubber / Technical Textiles				195.59	' 221.78	151.55	669.25	445.46
	B. Textile				336.56	70.19	-15.79	409.26	323.55
	Total				532.15	291.97	135.76	1078.51	769.01
	Less Interest				179.58	26.19	25.32	266.28	147.43
	Other un-allocable expenditure net of income Total Profit before Tax				19.85 332.72	18.24 247.53	-0.81 111.25	28.47 783.76	-0.76 622.33
**3 **	Capital Emnloved
	Assets
	A. Rubber / Technical Textiles				3838.95	3692.69	3310.72	3838.95	3310.72
	B. Textile				12470.28	12269.47	13246.66	12470.28	13246.66
	C. Unallocable				1029.90	1033.73	972.54	1029.90	972.54
			Total Assets		17339.13	16995.89	17529.91	17339.13	17529.91
	Liabilities
	A. Rubber / Technical Textiles				1161.23	1176.46	1231.02	1161.23	1231.02
	B. Textile				5761.21	5637.25	7043.70	5761.21	7043.70
	C. Unallocable				968.65	989.54	421.15	968.65	421.15
		Total Liabilities			7891.09	7803.25	8695.86	7891.09	8695.86
	Capital Employed
	A. Rubber / Technical Textiles				2677.72	2516.23	2079.70	2677.72	2079.70
	B. Textile				6709.07	6632.22	6202.97	6709.07	6202.96
	C. Unallocable				61.25	44.19	551.39	61.25	551.39
				TOTAL	9448.04	9192.63	8834.05	9448.05	8834.04

==> picture [80 x 79] intentionally omitted <==

==> picture [65 x 17] intentionally omitted <==

CORPORATE OFFICE:

WORKS:

REGD. OFFICE:

UMA INDUSTRIAL ESTATE, PHASE III, VILLAGE: VASNA-IYAVA, TALUKA: SANAND, DISTRICT: AHMEDABAD - 382 170, INDIA. TELEPHONE: 02717-284309, 2843 10 FAX: 02717-284152 E-MAIL m rt@ m rtglobal com WEBSITE: w w w .m rtglobal.com

MAHALAXMI HOUSE, YSL AVENUE, OPR KETAV PETROL PUMR POLYTECHNIC ROAD, AMBAWADI, AHMEDABAD - 380 015, INDIA.

47, NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: +91-79-22160776

TELEPHONE: +91-79-40008000 FAX: +91-79-40008030

CIN NO.: L25190GJ1991PLC016327

M ahalaxmi R ubT ech L imited

IV*

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS MAHALAXMI RUBTECH LIMITED

Standalone S tatem ent of Cash Flows for the year ended 31 M arch 2021

	(Am tinLakhs)	(Am tinLakhs)
	Y ear ended	Year ended
	31.03.2021	31.03.2020
A. CASH FLOW FROM OPERATING ACTIVITIES:
Profit before exceptional items and tax	783.76	622.34
Adjustments for:
Depreciation and am ortization expenses	939.59	1005.59
Interest Paid	280.14	280.56
Interest Received	-178.43	-136.18
Dividend Income	(3.08)	0.00
Provision for gratuity	1.52	28.90
Net exchange differences	(7.92)	(26.16)
Deferred Revenue Expenses w ritten off	0.00	3.53
Am ortisation of Deferred Income	(40.38)	(27.52)
Am ortisation of benefit on unsecured loan	0.00	0.00
Am ortisation of Leasehold Land	0.50	0.50
(Gain)/ loss on Disposal of fixed assets	(0.39)	(34.61)
Liabilities w ritten back	(41.25)	(39.71)
Bad Debts w ritten off	8.53	9.58
Operating Profit before working capital changes	1742.60	1686.83
Changes in working capital
Adjustm ents for:
Decrease in inventories	585.28	105.51
Decrease in trade receivables	587.65	187.50
Decrease in other financial assets	(145.15)	88.58
Decrease in other current assets	(11.85)	(42.61)
Decrease in non-current financial assets	(49.76)	(1.98)
Decrease in non-current assets	(6.03)	87.99
Increase in trade payables	(1174.23)	166.62
Increase in other current liabilities	(23.04)	(22.01)
Increase in non-current liabilities	(46.39)	(66.82)
Increase in other financial liabilities	170.36	277.65
Cash generated from operations	1629.45	2467.27
Net Income tax paid	(184.25)	(133.69)
Net cash flows used in operating activities (A)	1445.20	2333.58
B. CASH FLOW FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipm ent and intangible assets	(489.23)	(1285.95)
Purchase of Investments	0.00	(15.00)
Proceeds from sale/ disposal of fixed assets	12.47	100.34
Net withdrawal of /Investm ent in fixed deposits	-1208.64	-466.22
Interet Received	178.43	136.18
Dividend Received	3.08	0.00
Net cash flow from investing activities (B)	(1503.89)	(1530.66)
C. CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings	248.40	-124.30
Proceeds from short-term borrowings	89.06	-355.23
Capital Subsidy Received	27.80
Interest paid	(280.14)	(280.56)
Net cash flow from financing activities (C)	85.12	(760.09)
D. Net increase in cash and cash equivalents (A+B+C)	26.43	42.84
Cash and cash equivalents at the beginning of the year	634.02	591.18
On current accounts
Cash and cash equivalents at the end of the period	660.45	634.02

CORPORATE OFFICE: WORKS: < -^ U A n /> '!! REGD. OFFICE: MAHALAXMI HOUSE, YSL AVENUE, UMA INDCjsTRtAL ESTATE, R+G«(f III, VILLAGE: VASNA-IYAVA, 47, NEW CLOTH MARKET, OPR KETAV PETROL PUMR POLYTECHNIC ROAD, TALUKA: SANAblCL DI STRK*T:, AfJ M E DAB AD - 382 170, INDIA. AHMEDABAD - 380 002, INDIA. AMBAWADI, AHMEDABAD - 380 015, INDIA. T E L E P H O N ^ ^ I 5 ^ ^ 2 8 4 3 1 0 FAX: 02717-284152 TELEPHONE: +91-79-22160776

OPR KETAV PETROL PUMR POLYTECHNIC ROAD, AMBAWADI, AHMEDABAD - 380 015, INDIA.

E-MAIL: m rt@ m r$giobal^om WEBSITE: w w w .m rtglobal.com

TELEPHONE: +91-79-40008000. FAX: +91-79-40008030

CIN NO.: L25190GJ1991PLC016327

u7 j M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS

Notes :

1

• The above standalone and consolidated unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors in their respective meeting held on May 31, 2021; on the recommendation of Audit Committee; The statutory auditors, M/s Jain Chowdhary & Co., Chartered Accountants, has not reported any qualification / modification.

• 2 This results haVe been prepared in accordance with Indian Accounting Standards (IND AS) as specified in the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and Regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulation 2015 (as amended) and circulars and notifications issued thereunder.

• 3 The Consolidated Financial Result comprise of financial figures of Globale Tessile Private Limited and Mahaiaxmi Exports Pvt. Ltd., its wholly owned subsidiaries.

• 4 The Company is working in two segments namely Rubber/Technical Textile and Textile. The segment information is given in the annexure attached here to.

• 5 To facilitate comparison, figures of previous period have been regrouped, restated and rearranged, wherever necessary.

• 6 Tax expense includes provision for current tax and deferred tax.

• 7 The above Audited Financial results are available at the administrative office of the Company as well as Company's website www.mrtglobal.com and Stock exchange website www.bseindia.com for inspection of members of the company.

• 8 The Company has considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of these financial statements including the recoverability of carrying amounts of financial and non financial assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Company has, at the date of approval of these financial statements, used internal and external sources of information including credit reports and related information and economic forecasts and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's standalone and consolidated financial statements may differ from that estimated as at the date of approval of these standalone and consolidated financial statement.

• 9 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the Company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020 and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company and its subsidiary will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements to determine the financial impact are published.

• 10 The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year todate figures up to the third quarter of the respective financial years and there are no material adjustments made in the results of the quarter ended March 31, 2021 which pertain to earlier periods, which were been subjected to limited review by the auditors.

Dated : May 31,2021. Place : Ahmedabad.

==> picture [300 x 141] intentionally omitted <==

CORPORATE OFFICE: MAHALAXMI HOUSE. YSL AVENUE.

OPR KETAV PETROL PUMR POLYTECHNIC ROAD, AMBAWADI, AHMEDABAD - 380 0 15, INDIA.

WORKS:

UMA INDUSTRIAL ESTATE. PHASE III, VILLAGE: VASNA-IYAVA, TALUKA: SANAND. DISTRICT: AHMEDABAD - 382 170, INDIA. TELEPHONE: 02717-284309, 284310 FAX: 02717-284152

REGD. OFFICE:

• 47, NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: + 9 1-79-22160776

TELEPHONE: +91-79-40008000 FA X :+91-79-40008030 E-MAIL: m rt@ m rtglobal.com WEBSITE: w w w .m rtglobal.com

CIN NO.: L25190GJ1991PLC016327

ain c h o w a h a ry & Co. ] (C H A R T E R E D A C C O U N T A N T S

O ffice: C-344, Sum el-1 1 , Nr. Nam askar Circle. Shahibaug, Ahm edabad - 380 004 Ph: 079 - 4895 1100 OK

Cell: 90166 90045 E-mail: jcc.ahmedabad@gmail.com Website: www.jainchowdhary.com

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (as amended)

ToThe Board of Directors of Mahalaxmi Rubtech Limited

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results of Mahalaxmi Rubtech Limited ("Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter ended March 31,2021 and for the year ended March 31, 2021 ("Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us these consolidated year to date results:

• (i) includes the financial results of two subsidiaries namely

• a. Globale Tessile Private Limited (GTPL) and;

• b. Mahalaxmi Exports Private Limited (MEPL), being the wholly owned subsidiaries of the Company.

• (ii) have been presented in accordance with the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) in this regard; and

• (iii) gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive loss and other financial information of the Group and its associates for the quarter ended March 31,2021 and for the year ended March 31,2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under Section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Results" section of our report. We arc independent of the Group in accordance with the 'Code of Ethics' issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

==> picture [173 x 85] intentionally omitted <==

Head Office : 104, Model Residency, B. J. Marg, Jacob Circle, Mahalaxmi, Mumbai - 400 011 Branches : Jaipur I Ajmer I Faridabad I Taipei I

O ffice: C-344, Sum el-1 1 , Nr. Nam askar Circle, Shahibaug, Ahm edabad - 380 004 Ph: 079 - 4895 1100 <A|

iain ch o w d h a ry & Co. C H A R T E R E D A C C O U N T A N T S

Cell: 90166 90045 E-mail: jcc.ahmedabad@gmail.com Website: www.jainchowdhary.com

Emphasis of Matter

We draw attention to Note 08 to the consolidated financial results, which describes the uncertainties and the impact of Covid-19 pandemic on the Company's operations and results as assessed by the management. Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive loss and other financial information of the Group in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our ..opinion. The risk of not detecting a material

==> picture [276 x 92] intentionally omitted <==

Head Office : 104, Model Residency, B. J. Marg, Branches : Jaipur I Ajmer

ain ch o w d n a ry & C o. ] CB A R T E R E D A C C O U N T A N T S

O ffice: C-3 4 4, Sum el-1 1 , Nr. Nam askar Circle, Shahibaug, Ahm edabad - 380 004 Ph: 079 - 4895 1100 (A

Cell: 90166 90045 E-mail: jcc.ahmedabad@gmail.com Website: www.jainchowdhary.com

misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Holding company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group of which we are the independent auditors to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD 1/44/2019 dated March 29, 2019 issued by the Securities Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Head Office : 104, Model Residency, B. J. Marg, Jacob Circle, Mahalaxmi, Mumbai - 400 011 Branches : Jaipur I Ajmer I Faridabad I Taipei I

O ffice: C-3 4 4, Sum el-1 1 , Nr. Nam askar Circle, l ain ch o w d h a ry 8- C o. Shahibaug, Ahm edabad - 380 004 Ph: 079 - 4895 1100 V A (C H A R T E R E D A C C O U N T A N T S

Cell: 90166 90045 E-mail: jcc.ahmedabad@gmail.com Website: www.jainchowdhary.com

Other Matter

The accompanying Statement includes the audited financial results/statcmcnts and other financial information, in respect of

• 2 subsidiaries namely GTPL and MEPL whose financial results/statements include total assets of Rs. 266.42 Lakhs as at March 31, 2021, total revenues of Rs. 176.26 Lakhs, total net loss after tax of Rs. 02.61 Lakhs, Total comprehensive income of Rs. Nil, and net cash outflows of Rs. 7.32 Lakhs for the quarter and the year ended on that date.

The independent auditor's report on the financial statcments/fmancial results/financial information of these entities have been furnished to us by the Management and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associates is based solely on the reports of such auditors and the procedures performed by us as stated in paragraph above.

Our opinion on the Statement is not modified in respect of the above matter with respect to our reliance on the work done.

Further we report that the figures for the quarter ended March 31, 2021 represent the derived figures between the audited figures in respect of the full financial year ended March 31, 2021 and the published year-to-date figures up to December 31, 2020, being the date of the end of the third quarter of the current financial year, which wrere subject to a limited review.

Place : Ahmedabad Date : May 31,2021

==> picture [92 x 92] intentionally omitted <==

For, Jain Chowdhary & Co. Chartered Accountants Firm Registration No. 113267W

litesh Salecha Partner Membership No.: 147413 UDIN: 21147413AAAABQ8999

Head Office : 104, Model Residency, B. J. Marg, Jacob Circle, Mahalaxmi, Mumbai - 400 011 Branches : Jaipur I Ajmer I Faridabad I Taipei I

i M

M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS STATEMET OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR QUARTER AND YEAR ENDED MARCH 31, 2021

				CONSOLIDATED	CONSOLIDATED	(Rs.in Lacs)
		QUARTER ENDED			**YEAR ENDEI **	YEAR ENDED
Sr.N 0.	P a r tin ilarQ	31/03/2021 (Audited)	31/12/2020 (Unaudited)	31/03/2020 (Audited)	31/03/2021 (Audited)	31/03/2020 (Audited)
1	Revenue from operations	5629.36	3913.21	4017.54	13839.94	18067.81
2	Other income	220.73	13.15	93.76	274.00	132.00
**3 **	Total Revenue (1+2)	5850.09	3926.35	4111.30	14113.95	18199.81
**4 **	Expenses:
a	Cost of Material Consumed	3264.66	1556.59	2423.45	6732.81	10186.82
b	Purchase of stoch -in - trade
c	Changes in inventories of Finished Goods, Work in
	Progress & Stock in trade	21.05	523.88	-281.28	494.71	(149.27)
d	Employee benefits expense	350.38	290.57	341.11	1108.45	1331.63
e	Finance costs	213.84	29.96	28.18	317.83	158.48
f	Depreciation and amortisation expense	243.50	237.09	341.65	939.59	1005.59
g	Other expenses	1429.57	1034.63	1142.15	3741.07	5072.50
	Total Expenditure	5522.99	3672.71	3995.26	13334.46	17605.76
5	Profit from Operation before exceptional
	and entraordinary item and tax (3-4)	327.10	253.64	116.04	779.48	594.05
6	Exceptional Items	—	—	__	___	___
7	Profit before Extraordinary Item and tax(5-6)	327.10	253.64	116.04	779.48	594.05
8	Extraordinary Item	—	. —	__	___	___
**9 **	Profit before Tax (7-8)	327.10	253.64	116.04	779.48	594.05
**10 **	Tax Expenses:
	Current Tax	55.32	95.91	52.79	216.33	222.89
	Deferred Tax	18.75	(34.15)	(49.63)	(44.28)	(88.68)
11	Profit for the periodfrom continuing operations(9-10)	253.03	191.88	112.88	607.43	459.84
12	Profit / loss from discontinuing operations	—	—	___	___	___
13	Tax expenses of discontinuing operations	—	—	___	___	___
**14 **	Profit / loss from discontinuing operations after Tax (12-13)	0.00	0.00	0.00	0.00	0.00
**15 **	Profit / loss for the period (11+14)	253.03	191.88	112.88	607.43	459.84
**16 **	Share of Profit / (Loss) of Associates	—	—		___	__
17 1ft **io **	Other Comprehensive Income (Net of tax) Total Comprehensive Income (After tax) (15+16+17)	14.36 267.39	2.69 194.57	7.26 120.15	22.43 629.86	10.88 470.72
19 **zu **	Other Equity Paid up Equity Share Capital (Face Value ofRs.10/- per Share)	1332.03	1332.03	1332.03	1332.03	7480.36 1332.03
**21 **	Earning per Equity Share
	Basic EPS (Rs.)	1.90-	1.44	0.84	4.56	3.45
	Diluted EPS (Rs.)	* .9 0	1.44	0.84	4.56	3.45
	-------------------------------------------------------	— Agi

CORPORATE OFFICE: WORKS:

• MAHALAXMI HOUSE, YSL AVENUE, ESTATE. PHASE III. VILLAGE: VASNA-IYAVA, OPR KETAV PETROL PUMP POLYTECHNIC ROAD. v sN J ^ SANAND, DISTRICT: AHMEDABAD - 382 170, INDIA. AMBAWADI, AHMEDABAD - 380 015, INDIA. ^ = = = F £ l EPHONE: 02717-284309, 284310 FAX: 02717-284152 TELEPHO NE:+91-79-40008000 FA X :+91-79-40008030 E-MAIL: m rt@ m rtglobal.com WEBSITE: w w w .m rtglobal.com

REGD. OFFICE:

47. NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA.

TELEPHONE: +91-79-22160776

CIN NO.: L25190GJ1991PLC016327

M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS

				________	________	________	(Rs.in Lacs)
				CONSOLIDATED
	Particulars		QUARTER ENDED 31/03/2021 (Audited) 31/12/2020 (Unaudited) 31/03/2020 (Audited)			YEAR ENDED 31/03/2021 (Audited)	YEAR ENDED 31/03/2020 (Audited)
**1 **	Segment Revenue
	A. Rubber / Technical Textiles		950.69	745.56	733.69	2786.60	2740.94
	B. Textile		4823.58	3339.05	3028.49	11491.62	15668.54
	C. Unallocated
	Total		5774.27	4084.60	3762.18	14278.22	18409.48
	Less: Inter segmental revenue Net Sales / Income from operations		144.91 5629.36	171.40 3913.21	86.31 3675.87	438.28 13839.94	341.67 18067.81
**2 **	Segment Results (Profit	(+)/Loss (-)
	before tax and Interest)
	A. Rubber / Technical Textiles		195.59	221.78	149.92	669.25	445.46
	B. Textile		335.56	76.29	-22.51	409.62	295.26
	Total		531.16	298.07	127.41	1078.87	740.72
	Less Interest		184.22	26.19	25.32	270.92	147.43
	Other un-allocable expenditure net of income Total Profit before Tax		19.85 327.09	18.24 253.63	-13.95 116.04	28.47 779.48	-0.76 594.05
**3 **	Capital Emploved
	Assets
	A. Rubber / Technical Textiles		3838.95	3692.69	3310.72	3838.95	3310.72
	B. Textile		12449.85	12316.26	13352.46	12449.85	13352.46
	C. Unallocable		1029.90	1033.73	972.54	1029.90	972.54
		Total Assets	17318.69	17042.68	17635.72	17318.69	17635.72
	Liabilities
	A. Rubber / Technical Textiles		1161.23	1176.46	1231.02	1161.23	1231.02
	B. Textile		5762.50	5701.81	7171.16	5762.50	7171.16
	C. Unallocable		968.65	989.54	421.15	968.65	421.15
		Total Liabilities	7892.38	7867.80	8823.32	7892.38	8823.32
	Capital Employed
	A. Rubber / Technical Textiles		2677.72	2516.23	2079.70	2677.72	2079.70
	B. Textile		6687.35	6614.45	6181.30	6687.35	6181.30
	C. Unallocable		61.25	44.19	551.39	61.25	551.39
		TOTAL	9426.31	9174.87	8812.39	9426.32	8812.38

==> picture [79 x 79] intentionally omitted <==

CORPORATE OFFICE:

WORKS:

REGD. OFFICE:

UMA INDUSTRIAL ESTATE, PHASE III, VILLAGE: VASNA-IYAVA, TALUKA: SANAND, DISTRICT: AHMEDABAD - 382 170, INDIA. TELEPHONE: 02717-284309, 284310 FAX: 02717-284152 E-MAIL: m rt@ m rtglobal.com WEBSITE: w w w .m rtglobal.com

MAHALAXMI HOUSE, YSL AVENUE, OPR KETAV PETROL PUMR POLYTECHNIC ROAD, AMBAWADI, AHMEDABAD - 380 015, INDIA. TELEPHONE: +91-79-40008000- FAX: +91-79-40008030

47, NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: +91-79-22160776 CIN NO.: L25190GJ1991PLC016327

M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS

	MAHALAXMI RUBTECH LIMITED
Consolidated Statement of Cash Flows for the year ended 31st March 2021
			(Amt in Lakhs)
		Year ended	Year ended
		31.03.2021	31.03.2020
A. CASH FLOW FROM OPERATING ACTIVITIES:
Profit before exceptional items and tax		779.48	594.05
Adjustments for: Depreciation and amortization expenses Interest Paid		939.59 284.78	1005.59 287.27
Interest Received		(178.43)	(136.18)
Dividend Received		(3.08)	0.00
Provision for gratuity Net exchange differences Deferred Revenue Expenses written off Amortisation of Deferred Income		1.52 (8.37) 0.02 (40.38)	28.90 (26.24) 3.55 (27.52)
Amortisation of benefit on unsecured loan		0.00	0.00
Amortisation of Leasehold Land		0.50	0.50
(Gain)/ loss on Disposal of fixed assets Liabilities written back		(0.39) (41.25)	(34.61) (39.71)
Bad Debts written off		8.53	9.58
Operating Profit before working capital changes		1742.53	1665.19
Changes in working capital
Adjustments for: Decrease in inventories		717.16	40.79
Decrease in trade receivables		596.98	195.91
Decrease in other financial assets		42.83	25.16
Decrease in other current assets		(12.55)	(39.63)
Decrease in non-current financial assets		(49.76)	(1.98)
Decrease in non-current assets		(6.33)	87.99
Increase in trade payables Increase in other current liabilities		(1302.31) (22.49)	295.09 (21.90)
Increase in non-current liabilities		(46.39)	(66.82)
Increase in other financial liabilities		170.36	277.65
Cash generated from operations		1830.01	2457.44
Net Income tax paid Net cash flows used in operating activities (A)		(184.25) 1645.75	(133.69) 2323.75
B. CASH FLOW FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment and intangible assets Purchase of Investments		(694.53) 0.00	(1285.95) 0.00
Proceeds from sale/ disposal of fixed assets		12.47	100.34
Net withdrawal of /Investm ent in fixed deposits		(1208.64)	(466.22)
Interest Received		178.43	136.18
Dividend Received		(280.14)	0.00
Net cash flow from investing activities (B)		(1992.41)	(1515.66)
C. CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings		250.45	(124.20)
Proceeds from short-term borrowings		89.06	(355.23)
Capital Subsidy Received Interest paid Net cash flow from financing activities (C)		27.80 (1.56) 365.75	... (287.27) -766.70
Net increase in cash and cash equivalents	(A+B+C)	19.10	41.39
Cash and cash equivalents at the beginning of the year		644.32	602.92
On current accounts
Cash and cash equivalents at the end of the period		663.42	644.32

_____ :__ __ __ ______ -

51 a )$ « _

CORPORATE OFFICE: w o r KsP ^ ^ MAHALAXMI HOUSE, YSL AVENUE, UMA INDUSTRIAL ESTATE, PHASE III, VILLAGE: VASNA-IYAVA, OPR KETAV PETROL PUMR POLYTECHNIC ROAD, TALUKA: SAfoAND,'6l$TRICT: AHMEDABAD - 382 170, INDIA. AMBAWADI, AHMEDABAD - 380 015, INDIA. TELEPHONE: 02717-284309, 284310 FAX: 02717-284152

OPR KETAV PETROL PUMR POLYTECHNIC ROAD, AMBAWADI, AHMEDABAD - 380 015, INDIA.

REGD. OFFICE:

47, NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: +91-79-22160776

E-MAIL: m rt@ m rtglobal.com WEBSITE: w w w .m rtglobal.com

TELEPHONE: +91-79-40008000 FAX: +91-79-40008030

CIN NO.: L25190GJ1991PLC016327

M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS

Notes :

• 1 The above standalone and consolidated unaudited financial results were reviewed by the Audit Committee and approved by the Board

of Directors in their respective meeting held on May 31, 2021; on the recommendation of Audit Committee; The statutory auditors, M/s

• Jain Chowdhary & Co., Chartered Accountants, has not reported any qualification / modification.

• 2 This results have been prepared in accordance with Indian Accounting Standards (IND AS) as specified in the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and Regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulation 2015 (as amended) and circulars and notifications issued thereunder.

• 3 The Consolidated Financial Result comprise of financial figures of Globale Tessile Private Limited and Mahalaxmi Exports Pvt. Ltd., its wholly owned subsidiaries.

• 4 The Company is working in two segments namely Rubber/Technical Textile and Textile. The segment information is given in the annexure attached here to.

• 5 To facilitate comparison, figures of previous period have been regrouped, restated and rearranged, wherever necessary.

• 6 Tax expense includes provision for current tax and deferred tax.

• 7 The above Audited Financial results are available at the administrative office of the Company as well as Company's website www.mrtglobal.com and Stock exchange website www.bseindia.com for inspection of members of the company.

• 8 The Company has considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of these financial statements including the recoverability of carrying amounts of financial and non financial assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Company has, at the date of approval of these financial statements, used internal and external sources of information including credit reports and related information and economic forecasts and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's standalone and consolidated financial statements may differ from that estimated as at the date of approval of these standalone and consolidated financial statement.

• 9 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the Company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020 and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company and its subsidiary will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements to determine the financial impact are published.

• 10 The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year todate figures up to the third quarter of the respective financial years and there are no material adjustments made in the results of the

quarter ended March 31, 2021 which pertain to earlier periods, which were been subjected to limited review by the auditors.

Dated: May 31,2021. Place : Ahmedabad.

==> picture [79 x 83] intentionally omitted <==

For, MAHALAXMI RUBTECH LIMITED

------- -T JEETMAL B. PAREKH CHAIRMAN DIN NO. 00512415

CORPORATE OFFICE:

MAHALAXMI HOUSE. YSL AVENUE.

OPR KETAV PETROL PUMR POLYTECHNIC ROAD. AMBAWADI, AHMEDABAD - 380 015. INDIA.

TELEPHONE: +91-79-40008000 FAX: +91-79-40008030

WORKS:

UMA INDUSTRIAL ESTATE. PHASE III, VILLAGE: VASNA-IYAVA, TALUKA: SANAND, DISTRICT: AHMEDABAD - 382 170. INDIA. TELEPHONE: 02717-284309. 2843 10 FAX: 02717-284152

• E-MAIL: m rt@ m rtglobal.com WEBSITE: w w w .m rtglobal.com

REGD. OFFICE:

47. NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: +91-79-22160776

CIN NO.: L25190GJ1991PLC016327

M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS MAHALAXMI RUBTECH LIMITED STATEMENT OF ASSETS AND LIABILITIES THE YEAR ENDED MARCH 31, 2021

					(Rs.in Lacs)
		Standalone		Consolidated
	Particulars	As At March 31,2021	As At March 31,2020	As At March 31,2021	As At March 31, 2020
A	ASSETS
1	Non-current assets
a	Fixed Assets
	Property, Plant and Equipments	6493.89	6907.48	6699.19	6907.48
	Capital Worh in Progress
	Other Intangible assets	284.55	334.06	284.55	334.06
	Intangible assets under development
b	Non-current Financial Assets
	Investments	33.77	35.92	13.77	12.40
	Other financial assets	82.11	32.35	82.11	32.35
	Other non-current assets	39.04	33.51	45.68	39.87
	Total Non-current Financial Assets	154.92	101.78	141.56	84.62
**2 **	Deferred tax assets (net) Total-Non-current assets Current assets	6933.36	7343.33	7125.30	7326.16
a	Current Assets
b	Inventories Current Financial Assets	2'810.08	3395.36	2827.10	3544.26
	Investments
	Trade receivables	2973.07	3561.33	3004.36	3601.50
	Cash and cash equivalents	660.45	634.03	663.42	644.32
	Banh balances other than cash and cash equivalents	3018.13	1809.49	3018.13	1809.49
	Loans	266.86	80.14	0.00	0.00
	Other financial assets	258.16	299.74	259.10	301.92
	Other current assets	403.42	391.58	405.69	393.14
	Assets classified as held for sale Total Current Financial Assets	15.60 7595.69	14.93 6791.23	15.60 7366.30	14.93 6765.30
B **1 **	Total- Current assets TOTAL-ASSETS EQUITY AND LIABILITIES Equity ' Equity Share Capital Other Equity Reserves and Surplus	10405:77 17339.13 1332.03 8116.02	10186.59 17529.91 1332.03 7502.02	10193.39 17318.70 1332.03 8094.29	10309.55 17635.72 1332.03 7480.36
Money received against share warrants Total Equity attributable to owners of parent 2 Liabilities Non-current liabities		0.00 9448.05 •	0.00 8834.05	0.00 9426.32	0.00 8812.39
	Non-current financial liabilities
	Long-term borrowings Total Non-current financial liabilities	1012.41 1012.41	764.02 764.02	1014.66 1014.66	764.22 764.22
	Deferred tax liabilities (net)	235.44	270.38	227.29	262.93
	-Deferred Government Grant, Non-current	226.71	285.68	226.71	285.68
**5 **	Long-term provisions Total Non-current liabilities Current liabilities Current Financial Liabilities	149.43 1623.99	147.90 1467.98	149.43 1618.10	147.90 1460.73
	(a) Short-term borrowings	1991.12	1902.05	1991.12	1902.05
	(b) Trade payables	3087,79	4303.27	3092.95	4436.51
	(c) Other financial liabilities	1059.93	889.56	1060.13	889.66
	(d) Other current liabilities Total Current Financial Liabilities	43.19 6182.03	66.23 7161.11	45.01 6189.21	67.60 7295.82
	(d) Provisions, Curent Total- Current liabilities TOTAL-EQUITY AND LIABILITIES	85.07 6267.10 **17339.13	**	66.77 7227.88 17529.91	85.07 6274.28 17318.69
	Dated: May 31, 2021. Place : Ahmcdabad.	f/v \m |	JEETMAL B. PAREKII CHAIRMAN DIN NO. 00512415

WORKS: _/ < //_ REGD. OFFICE: UMA INDUSTRIAL E^TATf, PpAjE III, VILLAGE: VASNA-IYAVA,*

CORPORATE OFFICE:

47, NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: +91-79-22160776

MAHALAXMI HOUSE. YSL AVENUE,

TALUKA: SANANO. DISTRICT: AHMEDABAD - 382 170, INDIA. TELEPHONE: 02717^84309, 284310 FAX: 02717-284152

OPR KETAV PETROL PUMR POLYTECHNIC ROAD,

AMBAWADI, AHMEDABAD - 380 015, INDIA.

• E-MAIL: m rt@ m rtglobal.com WEBSITE: w w w .m rtglobal.com

CIN NO.: L25190GJ1991PLC016327

TELEPHONE: +91-79-40008000 FAX: +91-79-40008030

h j j l : ¥ i M ahalaxmi R ubT ech L imited

OFFSET PRINTING BLANKETS I TECHNICAL COATED FABRICS

Date: May 31,2021

To, BSE Limited Phiroze Jeejeebhoy Tower, Dalai Street, Fort, Mumbai-400001

Dear Sir,

Scrip Code - 51 4 4 5 0

Sub: Declaration in term s of Regulation 3 3(3)(d ) of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015

In terms of the second proviso to Regulation 33(3)(d) of SEBI (Listing Obligation and Disclosure Requirement) Regulation 2015, as amended, we confirm that the Statutory Auditor of the Company, M/s Jain Chowdhary & Co., Chartered Accountants (Firm Registration No.: 113267W) have issued Audit Report with Unmodified Opinion on the Annual Audited Financial Results of the Company for the financial year ended on March 31, 2021.

We request you to take the same on record.

Thanking you,

• ' Yours faithfully,

Mahalaxmi Rubtech Limited

Kevin Bfiruve Company Secretary

==> picture [79 x 80] intentionally omitted <==

CORPORATE OFFICE:

WORKS:

REGD. OFFICE:

MAHALAXMI HOUSE, YSL AVENUE, OPR KETAV PETROL PUMR POLYTECHNIC ROAD, AMBAWADI, AHMEDABAD - 380 015, INDIA. TELEPHONE: +91-79-40008000 FAX: +91-79-40008030

UMA INDUSTRIAL ESTATE, PHASE III, VILLAGE: VASNA-IYAVA, TALUKA: SANAND, DISTRICT: AHMEDABAD - 382 170, INDIA. TELEPHONE: 02717-284309, 284310 FAX: 02717-284152

47t NEW CLOTH MARKET, AHMEDABAD - 380 002, INDIA. TELEPHONE: + 9 1-79-22160776

E-MAIL: m rt@ m rtglobal.com WEBSITE: w w w .m rtglobal.com

CIN NO.: L25190GJ1991PLC016327