Mahalaxmi Rubtech Ltd. — Interim / Quarterly Report 2020

Nov 12, 2019

M ah alaxm i R u b T ech L im ited

O F F S E T P R IN T IN G B L A N K E T S I T E C H N IC A L C O A T E D FA BRICS

Ref: MRT/CS/Correspondence/2019-20/38

Date: November 12, 2019

To, Department of Corporate services, BSE Limited.

P J Towers, Dalai Street, Mumbai - 400 001.

Dear Sir,

Sub: Outcome of the Board Meeting dated November 12,2019

Company / Script Code: 514450

Please take a note that the meeting of Board of Directors of the company held on Tuesday, November 12, 2019 at the Administrative office of the Company, Interalia has transacted and approved the following business:

1. The Board has considered and approved Unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter and half year ended on September 30, 2019;

2. The Board has Discussed, appraised and approved the business activities of the Company;

Pursuant to Regulation 33 of SEBI (Listing obligation and Disclosure Requirement) Regulation, 2015, we hereby enclose copy of Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended on September 30,2019 along with Limited Review Report on quarterly financial results as mentioned above;

The meeting of Board of Directors commenced at 5.30 p.m. and concluded at 6.45 p.m.

Please take the same on record and oblige.

Thanking you,

Yours faithfully,

Yours Faithfully, For, Mahalaxmi Rubtech Limited Shailesh Koshti Company Secretary

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CORPORATE OFFICE:

WORKS:

REGD. OFFICE:

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

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

E-MAIL: mrt@mrtglobal.com WEBSITE: www.mrtglobal.com

HO: A/26, Himalaya Park Society, Income Tax, Ashram Road, Nr. New RBI, Ahmedabad - 380 014 (: +91 96620 10817 email: capcbco@gmail.com: ca.pawanbothra@gmail.com

P C BOTHRA & CO Chartered Accountants

BO: Bothra Chowk, New Lane, Gangashahar, Bikaner - 334 401 Email: bothrasl@yahoo.com; C: +91 151 2542 801

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Limited Review Report on Unaudited Standalone Financial Results of Mahalaxmi Rubtech Limited for quarter ended September 30,2019.

To

The Board of Directors, Mahalaxmi Rubtech Ltd. 47, New Cloth Market, Ahmedabad-380002

We have reviewed the accompanying statement of unaudited financial results of Mahalaxmi Rubtech Limited for the period and quarter ended September 30, 2019 ("the Statement") being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Regulation') read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 ('the Circular').

The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (IND AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015, as amended, and read with the Circular is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to express a conclusion on the Statement based on our review.

Attention is drawn to the Statement which states that the statements of cash flows for the corresponding six months ended September 30, 2018, as reported in the accompanying Statement has been approved by the Company's Board of Directors but have not been subjected to review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Internal 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 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 provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards i.e. IND AS prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

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Date: November 12, 2019
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For P C Bothra & CO. Chartered Accountants

Firm Registration No.: 306034E

(P K Bothra) Partner M. No.400385

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UNAUDITED STANDALONE FINANCIAL RESULTS FOR HALF YEAR ENDED SEPTEMBER 30, 2019

							(Rs.in Lacs)
				S T A N D A	L O N E
			Q U A R T E R E N D E D		H A L F Y E A	R E N D E D	Y E A R E N D E D
Sr. No.	Particulars	30/09/2019 (Unaudited)	30/06/2019 (Unaudited)	30/09/2018 (Unaudited)	30/09/2019 (Unaudited)	30/09/2018 (Unaudited)	31/03/2019 (Audited)
1	Revenue from operations	4693.07	5301.69	4175.49	9994.76	8932.06	18456.99
2	Other income	12.12	13.41	44.21	25.53	79.02	208.02
3	Total Revenue (1+2)	4705.19	5315.10	4219.70	10020.30	9011.08	18665.01
4	Expenses:
a	Cost of Material Consumed	2554.77	3128.99	2306.03	5683.76	5085.21	10157.88
b	Purchase of stoch -in - trade
c	Changes in inventories of Finished Goods, Work in
	Progress & Stock in trade	126.08	-42.38	-131.65	83.70	(277.34)	(246.71)
d	Employee benefits expense	334.31	314.44	342.83	648.75	651.25	1329.02
e	Finance costs	48.54	50.09	60.68	98.63	115.47	208.26
f	Depreciation and amortisation expense	215.56	233.17	213.63	448.72	459.13	933.61
g	Other expenses	1228.29	1470.54	1265.01	2698.84	2596.50	5668.26
	Total Expenditure	4507.55	5154.85	4056.53	9662.41	8630.22	18050.32
5	Profit from Operation before exceptional and entraordinary item and tax (3-4)	197.64	160.25	163.17	357.89	380.86	614.69
6	Exceptional Items	—	—	—	—	—	—
7	Profit before Extraordinary Item and tax(5-6)	197.64	160.25	163.17	357.89	380.86	614.69
8	Extraordinary Item	—	—	—	—	—	—
9	Profit before Tax (7-8)	197.64	160.25	163.17	357.89	380.86	614.69
10	Tax Expenses:
	Current Tax	60.57	58.64	45.1	119.21	102.77	183.45
	Deferred Tax	-4.23	-27.03	-15.4	(31.26)	(32.06)	(61.92)
11	Profit for the periodfromcontinuing operations(9-10	141.30	128.64	133.47	269.94	310.15	493.16
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	0.00
15	Profit / loss for the period (11+14)	141.30	128.64	133.47	269.94	310.15	493.16
16	Share of Profit / (Loss) of Associates	—	—		—	—	—
17	Other Comprehensive Income (Net of tax)	0.95	1.88	-1.38	2.83	(2.75)	2.66
18	Total Comprehensive Income (After tax) (15+16+1'	142.25	130.52	132.09	272.77	307.40	495.82
19	Other Equity						6984.09
20	Paid up Equity Share Capital (Face Value of Rs.10/-
	per Share)	1332.03	1332.03	1332.03	1332.03	1332.03	1332.03
21	Earning per Equity Share
	Basic EPS (Rs.)	1.06	0.97	1.02	2.03	2.38	3.74
	Diluted EPS (Rs.)	1.06	0.97	1.00	2.03	2.33	3.70

Notes:

1 The above standalone unaudited financial results were reviewed and recommended by the Audit Committee at their meeting held on November 12, 2019 and were approved & taken on record by the Board of Directors at their meeting held on November 12, 2019. The Limited Review of the standalone financial results for the quarter ended September 30, 2019 has been carried out by the statutory auditor of the Company;

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

CORPORATE OFFICE:

REGD. OFFICE:

, VILLAGE: VASNA-IYAVA, MEDABAD - 382 170. INDIA. 10 FAX: 02717-284152

YSL AVENUE. OPR KETAV PETROL PUMR POLYTECHNIC ROAD. AMBAWADI, AHMEDABAD - 380 0 15. INDIA. TELEPHONE: +91-79-40008000 FAX: +91-79-40008030

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

E-MAIL: mrt@mrtgIoB5i.com WEBSITE: www.mrtglobal.com

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

• 4 The Company has adopted Ind AS 115 'Revenue from contracts with customers' made effective from April 1,2018. Based on the assessment done by the management, there is no material impact on the revenue recognised during the period;

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

• 6 The financial results were available at the administrative office of the Company as well as Company's website www.mrtglobal.com and Stock exchange website www.bseindia.com;

• 7 Tax expense includes provision for current tax and deferred tax;

• 8 The above unaudited 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;

Dated : November 12, 2019. Place: Ahmedabad.

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For MAHALAXMI RUBTECH LTD.

T — ->1 . ^ -----■**

JEETMAL B. PAREKH CHAIRMAN DIN NO. 00512415

WORKS:

REGD. OFFICE:

CORPORATE OFFICE: YSL AVENUE. OPR KETAV PETROL PUMR POLYTECHNIC ROAD. AMBAWADI. AHMEDABAD - 380 0 15. 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 E-MAIL: mrt@mrtglobal.com WEBSITE: www.mrtglobal.com

47 NEW CLOTH MARKET. AHMEDABAD - 380 002 INDIA TELEPHONE: + 9 1 -79-22160776 CIN NO.: L25190GJ1991PLC016327

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							(Rs.in Lacs)
				S T A N D A	L O N E
	Particulars		Q U A R T E R E N D E D		H A L F Y E A	R E N D E D	Y E A R E N D E D
		30/09/2019	30/06/2019	30/09/2018	30/09/2019	30/09/2018	31/03/2019
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1	Segment Revenue
	A. Rubber / Technical Textiles	631.38	663.71	525.23	1295.09	1109.31	2247.75
	B. Textile	4131.25	4722.15	3753.22	8853.40	7998.74	16533.22
	C. Unallocated
	Total	4762.63	5385.86	4278.45	10148.50	9108.05	18780.97
	Less: Inter segmental revenue	69.57	84.16	102.96	153.73	175.99	323.98
	Net Sales / Income from operations	4693.06	5301.69	4175.49	9994.76	8932.06	18456.99
2	Segment Results (Profit (+)/Loss (-)
	before tax and Interest}
	A. Rubber/Technical Textiles	77.91	104.55	56.75	182.46	129.60	338.09
	B. Textile	157.01	104.73	154.01	261.74	344.80	469.43
	Total	234.92	209.28	210.76	444.20	474.40	807.52
	Less Interest	46.46	47.09	51.53	93.55	94.72	179.13
	Other un-allocable expenditure net of income	-9.18	1.94	-3.94	-7.24	-1.18	13.70
	Total Profit before Tax	197.64	160.25	163.17	357.89	380.86	614.69
3	Capital Emploved
	Assets
	A. Rubber/Technical Textiles	3000.54	2905.24	2922.86	3000.54	2922.86	3009.80
	B. Textile	13374.47	13797.00	13565.01	13374.47	13565.01	13165.83
	C. Unallocable	897.85	976.31	1065.88	897.85	1065.88	1007.33
	Total Assets	17272.86	17678.55	17553.75	17272.86	17553.75	17182.96
	Liabilities
	A. Rubber/Technical Textiles	752.78	652.33	812.81	752.78	812.81	684.21
	B. Textile	7413.00	8115.01	7851.00	7413.00	7851.00	7739.03
	C. Unallocable	518.18	464.55	761.85	518.18	761.85	443.60
	Total Liabilities	8683.96	9231.90	9425.66	8683.96	9425.67	8866.84
	Capital Employed
	A. Rubber/Technical Textiles	2247.76	2252.91	2110.05	2247.76	2110.05	2325.59
	B. Textile	5961.47	5681.99	5714.00	5961.47	5714.00	5426.80
	C. Unallocable	379.67	511.76	304.03	379.67	304.03	563.74
	TOTAL	8588.90	8446.66	8128.08	8588.90	8128.08	8316.12

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CORPORATE OFFICE: YSL AVENUE, OPR KETAV PETROL PUMR POLYTECHNIC ROAD. AM BA WAD I, AHMEDABAD - 380 0 15. 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, 284310 FAX: 02717-284152 E-MAIL: mrt@mrtglobal.com WEBSITE: www.mrtglobal.com

REGD. OFFICE:

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

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MAHALAXMI RUBTECH LIMITED

Standalone Statement of Cash Flows for half year ended 30 September 2019

		(Amt in	Lakhs)
		Half Year
		ended	Year ended
		30.09.2019	31.03.2019
A. CASH FLOW FROM OPERATING ACTIVITIES:
Profit before exceptional items and tax		357.90	614.69
Adjustments for:
Depreciation and amortization expenses		448.72	933.61
Interest Paid		95.53	173.47
Dividend Income		0.00	-1.51
Provision for gratuity		14.41	23.91
Net exchange differences		-4.55	-39.46
Deferred Revenue Expenses written off		2.19	7.48
Amortisation of Deferred Income		-10.98	-21.96
Amortisation of benefit on unsecured loan		0.00	3.54
Amortisation of Leasehold Land		0.25	0.50
(Gain)/ loss on Disposal of fixed assets		-4.79	-69.59
Liabilities written back		-1.35	-63.07
Bad Debts written off		6.69	9.43
Operating Profit before working capital changes	.	904.02	1571.05
Changes in working capital
Adjustments for:
Decrease in inventories		762.54	-167.14
Decrease in trade receivables		-1174.06	397.81
Decrease in other financial assets		114.17	-107.26
Decrease in other current assets		82.44	82.10
Decrease in non-current financial assets		0.00	-9.80
Decrease in non-current assets		-59.34	-83.00
Increase in trade payables		-309.38	-278.38
Increase in other current liabilities		39.66	-46.30
Increase in non-current liabilities		-46.30	-22.86
Increase in other financial liabilities		-14.91	-16.57
Cash generated from operations		298.83	1319.65
Net Income tax paid		-60.37	-183.81
Net cash flows used in operating activities (A)		238.46	1135.84
B. CASH FLOW FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment and intangible assets		-330.17	-749.70
Purchase of Investments		0.00	0.00
Proceeds from sale/ disposal of fixed assets		0.00	124.33
Net cash flow from investing activities (B)		-330.17	-625.37
C. CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from issuance of share capital		0.00	832.50
Proceeds from exercise of share warrants		0.00	-208.13
Proceeds from long-term borrowings		122.81	-471.13
Proceeds from short-term borrowings		1.42	261.41
Capital Subsidy Received		...	...
Interest paid		-95.53	-173.47
Dividend Received		0.00	1.51
Net cash flow from financing activities (C)		28.70	242.70
Net increase in cash and cash equivalents (A+B+C)		-63.01	753.17
Cash and cash equivalents at the beginning of the year		1934.45	1181.27
On current accounts
Cash and cash equivalents at the end of the period		1871.43	1934.45

CORPORATE OFFICE:

WORKS:

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

UMA INDUS' TALUKA: SAI TELEPHONE:

TELEPHONE: +91-79-40008000 FAX: +91-79-40008030 E-MAIL: m rt@

REGD. OFFICE:

LLAGE: VASNA-IYAVA, 47. NEW CLOTH MARKET. 382 170. INDIA. AHMEDABAD - 380 002, INDIA. FAX: 02717-284152 TELEPHONE: +91-79-22160776 EBSITE: www.mrtglobal.com CIN NO.: L25190GJ1991PLC016327

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MAHALAXMI RUBTECH LIMITED STATEMENT OF ASSETS AND LIABILITIES FOR HALF YEAR ENDED SEPTEMBER 30,2019

						(Rs.in Lacs)
					STANDALONE
	Particulars				As At Sept 30, 2019	As At March 31.2019
A	ASSETS
1	Non-current assets
a	Fixed Assets
	Property, Plant and Equipments				6520.64	6626.87
	Capital Worh in Progress
	Other Intangible assets				371.20	383.58
	Intangible assets under development
b	Non-current Financial Assets
	Investments				18.29	15.65
	Other financial assets				30.37	30.37
	Other non-current assets				182.67	125.57
	Total Non-current Financial Assets				231.33	171.59
	Deferred tax assets (net)
		Total-Non-current assets			7123.16	7182.04
2	Current assets
a	Current Assets
	Inventories				2738.33	3500.87
b	Current Financial Assets
	Investments
	Trade receivables				4904.18	3732.26
	Cash and cash equivalents				548.06	591.18
	Banh balances other than cash and cash equivalents				1323.37	1343.27
	Loans				88.09	144.44
	Other financial assets				266.21	324.02
	Other current assets				266.53	348.97
	Assets classified as held	for sale			14.93	15.91
	Total	Current Financial Assets			7411.36	6500.04
		Total- Current assets			10149.69	10000.92
		TOTAL-ASSETS			17272.86	17182.96
B	EQUITY AND LIABILITIES
1	Equity
	Equity Share Capital				1332.03	1332.03
	Other Equity
	Reserves and Surplus				7256.87	6984.09
	Money received against share warrants				0.00	0.00
	Total Equity attributable to owners of parent				8588.90	8316.12
2	Liabilities
	Non-current liabities
	Non-current financial liabilities
	Long-term borrowings				1011.12	888.32
	Total Non-current financial liabilities				1011.12	888.32
	Deferred tax liabilities (net)				317.19	347.36
	Deferred Government Grant, Non-current				296.54	353.82
	Long-term provisions				145.67	132.55
	Total Non-current liabilities				1770.52	1722.05
5	Current liabilities
	Current Financial Liabilities
	(a) Short-term borrowings				2258.70	2257.28
	(b) Trade payables				3864.98	4176.36
	(c) Other financial liabilities				597.66	611.92
	(d) Other current liabilities				127.90	88.24
	Total Current Financial Liabilities				6849.24	7133.80
	(d) Provisions, Curent				64.21	11.00
		Total- Current liabilities			6913.45	7144.80
	TOTAL-EQUITY AND LIABILITIES		SN		17272.86	17182.96
				T	-* J L JEETMAL	B. PAREKH
	Dated : November 12,2019.					CHAIRMAN
	Place: Ahmcdabad.				DIN NO. 00512415

CORPORATE OFFICE:

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

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: mrt@mrtglobal.com WEBSITE: www.mrtglobal.com

REGD. OFFICE:

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

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

HO: A/26, Himalaya Park Society, Income Tax, Ashram Road, Nr. New RBI, Ahmedabad - 380 014 {: +91 96620 10817 email: capcbco@gmail.com; ca.pawanbothra@gmail.com

P C BQTHRA & CO Chartered Accountants

BO: Bothra Chowk, New Lane, Gangashahar, Bikaner - 334 401 Email: bothrasl@yahoo.com; C: +91 151 2542 801

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Limited Review Report on Unaudited Consolidated Financial Results of Mahalaxmi Rubtech Limited for quarter ended September 30,2019.

To

The Board of Directors, Mahalaxmi Rubtech Ltd. 47, New Cloth Market, Ahmedabad-380002

1. We have reviewed the accompanying statement of unaudited consolidated financial results of Mahalaxmi Rubtech Limited (the 'Company') comprising its subsidiary (together referred to as 'the Group'), for the quarter and half year ended September 30, 2019 ("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 ("the Regulation"), as amended and including relevant circulars issued by the SEBI from time to time.

2. This Statement is the responsibility of the Company's Management and is approved by the Board of Directors, 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 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015, as amended, read with the Circular, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the 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.

We also performed procedures in accordance with the SEBI circular CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. Attention is drawn to the fact that the consolidated figures for the corresponding Quarter and Six months ended September 30, 2018 and the statement of cash flows for the corresponding period from April 01, 2018 to September 30,2018, as reported in these unaudited consolidated financial results have been approved by the Board of Directors, but have not been subjected to review since the requirement of submission of quarterly consolidated financial results has become mandatory effective April 01, 2019.

==> picture [113 x 63] intentionally omitted <==

HO: A/26, Himalaya Park Society, Income Tax, Ashram Road, Nr. New RBI, Ahmedabad - 380 014 (: +91 96620 10817 email: capcbco@gmail.com: ca.pawanbothra@gmail.com

P C BOTHRA & CO Chartered Accountants

BO: Bothra Chowk, New Lane, Gangashahar, Bikaner - 334 401 Email: bothrasl@yahoo.com; (: +91 151 2542 801

==> picture [51 x 36] intentionally omitted <==

1. The Statement includes the results of Globale Tessile Private Limited (a Wholly Owned Subsidiary Company)

2. Based on our review conducted as above and based on the consideration of the reports of other auditors on the unaudited separate quarterly financial results and on the other financial information of subsidiaries, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited consolidated financial results prepared in accordance with recognition and measurement principles laid down in the applicable Indian Accounting Standards specified under Section 1S3 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which, it is to be disclosed, or that it contains any material misstatement.

3. We did not review the financial statements and other financial information, in respect of one subsidiary, whose financial statements include total asset of Rs. 100.49 lakhs as at the quarter ended on September 30, 2019; as well as the total revenue of Rs. 53.42 lakhs for the quarter ended September 30, 2019. These financial statements and other financial information have been also reviewed by other auditor, whose financial statements, other financial information and/or auditor's reports have been furnished to us by the management and so far as it relates to the affairs of such subsidiaries is based solely on the report of other auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter.

For P C Bothra & CO. Chartered Accountants Firm Registration No.: 306034E

==> picture [75 x 30] intentionally omitted <==

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

^ oth ra ^
' FRN: 306034K
----- End of picture text -----

Place: Ahmedabad Date: November 12, 2019 UDIN: I440O385AAAAAQI2.15

(P K Bothra) Partner M. No. 400385

M ah alaxm i R ub T ech L im ited

T EXTILE PRINTIN G BLANKETS | OFFSET PRINTIN G BLANKETS | RUBBER C O AT ED FABRICS | PRECISIO N RUBBER PARTS

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR HALF YEAR ENDED SEPTEMBER 30, 2019

(Rs.in Lacs)

				C O N S O L I	D A T E D
			Q U A R T E R E N D E D		H A L F Y E A	R E N D E D	Y E A R E N D E D
Sr. No.	Particulars	30/09/2019 (Unaudited)	30/06/2019 (Unaudited)	30/09/2018 (Unaudited)	30/09/2019 (Unaudited)	30/09/2018 (Unaudited)	31/03/2019 (Audited)
1	Revenue from operations	4718.59	5329.60	4175.49	10048.19	8984.26	18589.27
2	Other income	12.12	13.41	44.21	25.53	79.02	212.63
3	Total Revenue (1+2)	4730.71	5343.01	4219.70	10073.72	9063.28	18801.90
4	Expenses:
a	Cost of Material Consumed	2588.62	3146.91	2208.51	5735.54	5118.95	10282.00
b	Purchase of stoch -in - trade
c	Progress & Stock in trade	115.80	-32.20	(34.13)	83.61	-277.34	(256.89)
d	Employee benefits expense	336.56	316.69	340.57	653.25	655.75	1338.02
e	Finance costs	48.55	50.11	60.68	98.66	115.47	212.73
f	Depreciation and amortisation expense	215.56	233.17	213.63	448.72	459.13	933.61
g	Other expenses	1228.83	1471.14	1264.53	2699.97	2599.47	5673.93
	Total Expenditure	4533.92	5185.82	4053.79	9719.74	8671.43	18183.40
5	entraordinary item and tax (3-4)	196.78	157.19	165.91	353.98	391.85	618.50
6	Exceptional Items	—	—	—	—	• —	—
7	Profit before Extraordinary Item and tax(5-6)	196.78	157.19	165.91	353.98	391.85	618.50
8	Extraordinary Item	—	. . .	—	—	—	—
9	Profit before Tax (7-8)	196.78	157.19	165.91	353.98	391.85	618.50
10	Tax Expenses:
	Current Tax	60.35	57.84	45.86	118.19	105.62	184.40
	Deferred Tax	-4.23	(27.03)	(15.40)	(31.26)	-32.06	(61.92)
11	Profit for the periodfromcontinuing operations(9-10	140.66	126.38	135.45	267.05	318.29	496.02
12	Profit / loss from discontinuing operations	—	—	—	—	—	—
13	Tax expenses of discontinuing operations	—	. . .	—	—	—	—
14	Tax (12-13)	0.00	0.00	0.00	0.00	0.00	0.00
15	Profit / loss for the period (11+14)	140.66	126.38	135.45	267.05	318.29	496.02
16	Share of Profit / (Loss) of Associates		—	—	—	—	—
17	Other Comprehensive Income (Net of tax)	0.28	1.20	(1.38)	1.48	(2.75)	2.82
18	Total Comprehensive Income (After tax) (15+16+1'	140.94	127.58	134.07	268.52	315.54	498.84
19	Other Equity						6986.96
20	per Share)	1332.03	1332.03	1332.03	1332.03	1332.03	1332.03
21	Earning per Equity Share
	Basic EPS (Rs.)	1.04	0.97	1.02	2.00	2.38	3.77
	Diluted EPS (Rs.)	1.04	0.97	1 . 0 0	2.00	2.33	3.72

Notes:

• 1 The above consolidated unaudited financial results were reviewed and recommended by the Audit Committee at their meeting held on November 12, 2019 and were approved & taken on record by the Board of Directors at their meeting held on November 12, 2019. The Limited Review of the consolidated financial results for the quarter ended September 30, 2019 has been carried out by the statutory auditor of the Company;

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

• 3 The consolidated financial result comprise of financial figures of Globale Tessile Private Limited, its wholly owned subsidiary;

• 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;

CORPORATE OFFICE:

REGD. OFFICE:

E III. VILLAGE: VASNA-IYAVA. 47. NEW CLOTH MARKET. MEDABAD - 382 170. INDIA. AHMEDABAD - 380 002. INDIA. 310 FAX: 02717-284152 TELEPHONE: +91-79-22160776 m WEBSITE: www.mrtglobal.com CIN NO.: L25190GJ1991PLC016327

YSL AVENUE. OPR KETAV PETROL PUMR POLYTECHNIC ROAD. AMBAWADI. AHMEDABAD - 380 015, INDIA. TELEPHONE: +91-79-40008000 FAX: '+ 9 1-79-40008030

M ah alaxm i R ub T ech L im ited

T EXTILE PRIN TIN G BLANKETS | OFFSET PRINTIN G BLANKETS | RUBBER C O A T ED FABRICS | PRECISIO N RUBBER PARTS

• 5 The Company has adopted Ind AS 115 'Revenue from contracts with customers' made effective from April 1,2018. Based on the assessment done by the management, there is no material impact on the revenue recognised during the period;

• 6 To facilitate comparison. Figures of previous period have been regrouped, restated and rearranged, wherever necessary;

• 7 The financial results were available at the administrative office of the Company as well as Company's website www.mrtglobal.com and Stock exchange website www.bseindia.com;

• 8 Tax expense includes provision for current tax and deferred tax;

• 9 The above unaudited 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;

Dated : November 12, 2019, Place : Ahmcdabad.

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For MAHALAXMI RUBTECH LTD.

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JEETMAL B. PAREKH CHAIRMAN DIN NO. 00512415

""

WORKS:

1

—

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: mrt@mrtglobal.com WEBSITE: www.mrtglobal.com

CORPORATE OFFICE: YSL AVENUE. OPR KETAV PETROL PUMR POLYTECHNIC ROAD. AMBAWADI, AHMEDABAD- 380 015. INDIA. TELEPHONE:-1-91-79-40008000 FAX:+91-79-40008030

47 NE’W CLOTH MARKET. AHMEDABAD - 380 002 INDIA TELEPHONE: +91-79-22160776 CIN NO.: L25190GJ1991PLC016327

M ah alaxm i R ub T ech L im ited

T EXTILE PRIN TIN G BLANKETS I OFFSET PRINTIN G BLANKETS I RUBBER C O A T ED FABRICS I PRECISIO N RUBBER PARTS

								(Rs.in Lacs)
				C O N S O L I	D A T	E D
	Particulars		Q U A R T E R E N D E D			H A L F Y E A	R E N D E D	Y E A R E N D E D
		30/09/2019	30/06/2019	30/09/2018	30/09/2019		30/09/2018	31/03/2019
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)		(Unaudited)	(Audited)
1	Segment Revenue
	A. Rubber / Technical Textiles	631.38	663.71	525.23		1295.09	1109.31	2247.75
	B. Textile	4156.78	4750.05	3753.22		8906.83	8050.94	16665.49
	C. Unallocated
	Total	4788.16	5413.76	4278.45		10201.92	9160.25	18913.24
	Less: Inter segmental revenue	69.57	84.16	102.96		153.73	175.99	323.97
	Net Sales / Income from operations	4718.59	5329.60	4175.49		10048.19	8984.26	18589.27
2	Segment Results (Profit (+)/Loss (-)
	before tax and Interest}
	A. Rubber/Technical Textiles	77.91	104.55	56.75		182.46	129.60	338.09
	B. Textile	156.15	101.68	156.74		257.83	355.79	473.23
	Total	234.06	206.22	213.49	•	440.29	485.39	811.32
	Less Interest	46.46	47.09	51.53		93.55	94.72	179.13
	Other un-allocable expenditure net of income	-9.18	1.94	-3.95		-7.24	-1.18	13.69
	Total Profit before Tax	196.78	157.19	165.91		353.98	391.85	618.50
3	Capital Employed
	Assets
	A. Rubber/Technical Textiles	3000.54	2905.24	2922.86		3000.54	2922.86	3009.80
	B. Textile	13380.67	13798.61	13802.63		13380.67	13802.63	13195.81
	C. Unallocable	897.85	976.31	1065.88		897.85	1065.88	1007.33
	Total Assets	17279.07	17680.16	17791.37		17279.07	17791.37	17212.94
	Liabilities
	A. Rubber / Technical Textiles	752.78	652.33	812.81		752.78	' 812.81	684.21
	B. Textile	7421.06	8116.70	8075.64		7421.06	8075.64	7766.14
	C. Unallocable	517.72	464.55	761.85		517.72	761.85	443.60
	Total Liabilities	8691.56	9233.59	9650.30		8691.56	9650.30	8893.95
	Capital Employed
	A. Rubber/Technical Textiles	2247.76	2252.91	2110.05		2247.76	2110.05	2325.59
	B. Textile	5959.61	5681.91	5726.99		5959.61	5726.99	5429.67
	C. Unallocable	380.13	511.76	304.03		380.13	304.03	563.73
	TOTAL	8587.50	8446.58	8141.07		8587.50	8141.07	8318.99

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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: mrt@mrtglobal.com WEBSITE: www.mrtglobal.com

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

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

M ah alaxm i R ub T ech L im ited

T EXTILE PRINTIN G BLANKETS I OFFSET PRINTIN G BLANKETS | RUBBER C O A T ED FABRICS I PRECISIO N RUBBER PARTS MAHALAXMI RUBTECH LIMITED Consolidated Statement of Cash Flows for half year ended 30th September 2019

			(Amt in Lakhs)
		Half Year
		ended	Year endrd
		30.09.2019	31.03.2019
A. CASH FLOW FROM OPERATING ACTIVITIES:
Profit before exceptional items and tax		353.97	618.49
Adjustments for:
Depreciation and amortization expenses		448.72	933.61
Interest Paid		95.54	177.85
Dividend Received		0.00	-1.51
Provision for gratuity		14.41	23.91
Net exchange differences		-4.55	-44.07
Deferred Revenue Expenses written off		2.20	7.50
Amortisation of Deferred Income		-10.98	-21.96
Amortisation of benefit on unsecured loan		0.00	3.54
Amortisation of Leasehold Land		0.25	0.50
(Gain)/ loss on Disposal of fixed assets	,	-4.79	-69.59
Liabilities written back		-1.35	-63.07
Bad Debts written off		6.69	9.43
Operating Profit before working capital changes		900.10	1574.64
Changes in working capital
Adjustments for:
Decrease in inventories		802.49	-251.31
Decrease in trade receivables		-1149.52	353.92
Decrease in other financial assets		58.93	34.12
Decrease in other current assets		83.84	77.56
Decrease in non-current financial assets		0.00	-9.80
Decrease in non-current assets		-59.34	-83.00
Increase in trade payables		-325.86	-280.86
Increase in other current liabilities		38.42	-45.03
Increase in non-current liabilities		-46.30	-22.86
Increase in other financial liabilities		-14.21	-16.57
Cash generated from operations		288.54	1330.82
Net Income tax paid		-61.32	-183.81
Net cash flows used in operating activities (A)	.	227.22	1147.01
B. CASH FLOW FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment and intangible assets		-330.17	-749.70
Purchase of Investments		0.00	0.00
Proceeds from sale/ disposal of fixed assets		0.00	124.33
Net cash flow from investing activities (B)		-330.17	-625.36
C. CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from issuance of share capital		0.00	832.50
Proceeds from exercise of share warrants		0.00	-208.13
Proceeds from long-term borrowings		122.81	-471.09
Proceeds from short-term borrowings		1.42	261.41
Capital Subsidy Received		...	—
Dividend Received		0.00	1.51
Interest paid		-95.54	-177.85
Net cash flow from financing activities (C)		28.69	238.35
Net increase in cash and cash equivalents (A+B+C)		-74.26	760.00
Cash and cash equivalents at the beginning of the year		1946.20	1186.20
On current accounts
Cash and cash equivalents at the end of the period	# 7 / ^ .	1871.94	1946.20
--------------------------------------------------------------------alJ X	----------v 4 -------------------------------

CORPORATE OFFICE:

YSL AVENUE. OPR KETAV PETROL PUMR POLYTECHNIC ROAD. AMBAWADI.

AHMEDABAD - 380 015. INDIA.

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

WORKS: V UMA INDUSTRIAL ESTATE. PHASE7T|riVlLLAGE: VASNA-IYAVA.

TALUKA: SANAND, QISTRICT XVlfabABAD - 382 170. INDIA. TELEPHONE: 027T7-2943(fr, 2343(6 FAX: 02717-284152 E-MAIL: mrt@mrtglobancom WEBSITE: www.mrtglobal.com

REGD. OFFICE:

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

TELEPHONE: +91-79-22160776

CIN NO.: L25190GJ1991PLC016327

M ah alaxm i R ub T ech L im ited ____

T EXT ILE PRIN TIN G BLANKETS I OFFSET PRINTIN G BLANKETS I RUBBER C O A T ED FABRICS I PREC ISIO N RUBBER PARTS

_____ MAHALAXMI Rl'BTKC H LIMITED________ STATEMENT OF ASSETS AND LIABILITIES FOR HALF YEAR ENDED SEPTEMBLR 30, 2019

				(Rs.in Lacs)
			CONSOLIDATED
Particulars			As At Sept. 30. 2019	As At March 31.2019
A ASSETS
1 Non-current assets
a Fixed Assets
Property, Plant and Equipments			6520.64	6626.87
Capital Worh in Progress
Other Intangible assets			371.20	383.58
Intangible assets under development
b Non-current Financial Assets
Investments			11.64	10.88
Other financial assets			30.37	30.37
Other non-current assets			182.72	125.63
Total Non-current Financial Assets			224.74	166.88
Deferred tax assets (net)
		Total-Non-current assets	7116.57	7177.33
2 Current assets
a Current Assets
Inventories			2782.55	3585.05
b Current Financial Assets
Investments
Trade receivables			4955.25	3780.75
Cash and cash equivalents			548.56	602.93
Banh balances other than		cash and cash equivalents	1323.37	1343.27
Loans			0.45	1.86
Other financial assets			267.70	325.22
Other current assets			269.67	353.51
Assets classified as held	for sale		14.93	15.91
Total	Current Financial Assets		7379.94	6423.45
		Total- Current assets	10162.49	10008.50
		TOTAL-ASSETS	17279.07	17185.83
B EQUITY AND LIABILITIES
1 Equity
Equity Share Capital			1332.03	1332.03
Other Equity
Reserves and Surplus			7255.48	6986.96
Money received against share warrants			0.00	0.00
Total Equity attributable to owners of parent			8587.50	8318.99
2 Liabilities
Non-current liabities
Non-current financial liabilities
Long-term borrowings			1011.22	888.42
Total Non-current financial liabilities			1011.22	888.42
Deferred tax liabilities (net)			316.73	347.42
Deferred Government Grant, Non-current			296.54	‘ 353.82
Long-term provisions			145.67	132.55
Total Non-current liabilities			1770.16	1722.21
5 Current liabilities
Current Financial Liabilities
(a) Short-term borrowings			2258.70	2257.28
(b) Trade payables			3873.13	4173.88
(c) Other financial liabilities			598.45	612.01
(d) Other current liabilities			127.93	89.51
Total Current Financial Liabilities			6858.21	7132.68
(d) Provisions, Curent			63.19	11.95
	Total- Current liabilities		6921.40	7144.63
TOTAL-EQUITY AND LIABILITIES			17279.07	17185.83

==> picture [528 x 87] intentionally omitted <==

CORPORATE OFFICE:

YSL AVENUE. OPR KETAV PETROL PUMP POLYTECHNIC ROAD. AMBAWADI. AHMEDABAD - 380 015, 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:

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

E-MAIL: mrt@mrtglobal.com WEBSITE: www.mrtglobal.com

CIN NO.: L25190GJ1991PLC016327

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