Mangalam Cement Ltd. — Interim / Quarterly Report 2021

Nov 7, 2020

MANGALAM CEMENT LTD.

MCI./SEC November 07, 2020

SCRIP CODE: 502157	SCRIP SYMBOL: MANGLMCEM
Dy. Gener I Manager,	Asst.
(Deptt. of	ice President
rp. Affairs)	al Stock Exchange of India Ltd.
B. S. E. Ltd.	xchange Plaza,
Phiroze Jeeje bhoy Towers, Dalal Street	Bandra Kur/a Complex, Bandra (East)
MUMBAl-40 001	MUMBAI - 400 051
FAX: 02 -22723121/ 22722039/ 22722061	FAX:022-26598238/26598237
E-mail: c rp.relat1ons@bseindia.com	E-mail: cmlist@nse.co.in

Sub: Un-audited Financial Results for the Quarter & Half year ended 30th September, 2020

Dear Sir/Madam,

Pursuant to provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith copy of Un-audited Financial Results of the Company for the quarter & half year ended 301h September, 2020 along wit h copy of limited review report carried out by Statuary Auditors, M/s. Singhi & Co., Chartered Accountants, New Delhi and approved by the Board of Directors of the Company at its meeing held on 07th November, 2020.

The Board Meeting commenced at 3.08 PM and concluded at 4.18 PM.

Please display the Results and this letter on your Notice Board and also upload the same on your website for the information of the members and investors.

Thanking you,

Yours faithfully, For: Mangalam Cement Ltd.

ManoJ Kumar Company Secretary Encl: As Above.

Regd Office & Works	N326520 Morak D1stt. Kola (Raj.) CIN : L26943RJ1976PLC001705, Telefax : 07459 - 232156agar-''. .angalamcement.comP.O. Ad1tya·i@
Kola Office	Website: www.mangalamcement.coSm,kEh-dmha1I. ez~'onym(Near SBI Bank) Kola-. 324001 (Rajasthan)No 20 80 Feet Road, Opp,Shuam'Mo°:: 9351468064 / 9351468055 / 9351468445, E-mail . mclkta@kappa.net.in
Dolh1 Office	153 Leela Building (GF), Okhla lndl. Estate, Phase-Ill, New Delhi - 110020133 43539137 Fax · 011 - 23421768•Tel. No : 011- 43539132, 435391,t com d~lhi marketmg@mangalamcement.comE-mail delhi.purchase@manga amcemen .,
Jaipur Ofl1ce	I or Gee arh Tower, Hawa-Sarak, Jaipur . 302 006 (RaJasthan)~et ~141 . 2~~ 8933, 2218931, E-mail : jaipur.marketing@mangalamcement.com

Concrete Ka Sachcha Saathi

Regd.Office: P.O. Adityanagar-326520, Morak, Distt. Kota (Rajasthan) CIN-L26943RJ1976PLCO01705

Website: www.mangalamcement. com email communication@mangalamcement.com

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/HALF YEAR ENDED 30TH SEPTEMBER-2020

							(Rs. in Lakhs)
	Half Year endedQuarter ended						Year
Sr.	Partioulars						ended30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020
No.				UNAUDITED UNAUDITED UNAUDITED UNAUDITED UNAUDITED			AUDITED
	1 Revenue from Operations	32072 69	22622.37	28925.27	54695.06	62241.35	122825.10
	2 Other Income	927.10	689 92	733.21	1617.02	1545.54	2972.58
	3 Total income (1+2)	32999.79	23312.29	29658.48	56312.08	63786.89	126797.68
	4 Expenses
	a) Cost of Materials Consumed	5273.66	2641.80	4644.85	7915.46	9305.04	19719.16
	b) Change in Inventories of Finished Goods	(291 26)	2913.57	(703.42)	2622.31	(2122.77)	(5487.44)
	Work-in-Progress and Stock-in-Trade
	c) Employee Benefits Expense	2699 91	2755.26	2578.47	5455.17	5431.95	10877.09
	d) Power and Fuel	7558.58	3205.53	7757.22		10764.11 16794.36	33643.89
		8885.42	5415.63	7012.97	14301.05	16305.08	33111.95
	e) Packing. Distribution& Selling Expenses	1581. 12	1636.07	1594.40	3217.19	2983.27	6327.50
	FinanceCosts	1585.39	1564.51	1233 18	3149.90	2377.39	4867. 50
	g) Depreciation and Amortisation Expense	2424 85		1043.03 3181.84	3467 88	5276.35	11023.99
	h) Other ExpensesTOTAL EXPENSES	29717.67	21175.40	27299.51	50893.07	56360.67	114083.64
	5 Profit Before Tax (3-4)	3282. 12	2136.89	2358.97	5419.01	7436.22	11714.04
	6 Tax exRenses
		544 39	356.23	219.41	900.62	1186.76	1919.36
	a) Income Tax / MATb) Income Tax for earlier year (Net)			.77		77.77	77.77
	c) Deferred Tax charge/(credit)	604.95	400.97		588.51 1005.92	1376.86	2126.70
	Total Tax	1149.34	757.20	885.69	1906.54	2641.39	4123.83
	7 Net Profit for the Period (5-6)	2132.78	1379.69	1473.28		3512.474794.83	7590.21
	8Other comprehensive income/(Loss) (Net of Tax)tems that will not be reclassified to Profit & Loss	(32.99)	23.57	(54.61)	(9.42)	(97.27)	(185.88)
	Total Comprehensive Income (After Tax) (7+8)	2099.79	1403.26	1418.67	3503.05	4697.56	7404.33
9	10 Paid up Equity Share Capita	2669.38	2669.38	2669.38	2669.38	2669.38	2669.38
	(Face value Rs.10/-)
	11 Other Equity						54921.26
	12 Basic and Diluted EPS (in Rs.)	7.99	5.17	5.52	13.1	17.96	28.43

	Statement of Assets and Liabilities is as under:-		(Rs. in Lakhs)
		As at	As at
S.No.	Particulars	30.09.2020	31.03.2020
		UNAUDITED	AUDITED
	ASSETS
	1 Non-Current Assets
	a) Property, Plant and Equipment	87770.60	88745.87
	b) Capital Work-in-Progress	5952.19	2073.88
	c) Right of use Assets	2420.79	1925.25
	d) Other Intangible Assets	807.35	872.62
	e) Financial Assets		3485.22
	InvestmentsOther Financial Assets	3664.361091.31	1019.40
	ii)) Other Non Current Assets	4834.74	7833.07
	Total-Non Current Assets	106541.34	105955.31
	2 Current Assets
	a) Inventories	15357.14
			16417.99
	b) Financial Assets		3031.94
	i) Investments	60.603246.59
	i) Trade Receivable	11401.90	2691.14 6332.00
	ii) Cash and Cash Equivalentsiv) Bank Balance other than (ii) above	8206.58	2030.59
	v) Loans	7397.71	7872.71
	vi) Other Financial Assets		2733.76
	c) Current Tax Assets(net)	3791.8047.82	494.16
	d) Other Current Assets	13339.17	11708.1953312.48
	Total Current Assets	62849.31
	TOTAL AsSETS	169390.65	159267.79
B	EQUITY AND LIABILITIES
	Equity
	a) Equity Share Capital	2669.38	2669.38
	b) Other Equity	58157.37	54921.26
	Total-Equity	60826.75	57590.64
	LIABILITIES1 Non-Current Liabilities
	a) Financial Liabilitiesi) Borrowings	39044.56	34834.55
	i) Lease Liabilities	532.68	105.00
	ii) Other Financial Liabilities	4780.16	4331.00
	b) Provisions	2469.87	2283.28
	c) Deferred Tax Liabilities (net)	6653.67	5651.42
	d) Other Non Current Liabilities	191.80	209.92
	Total- Non-Current Liabilities	53672.74	47415.17
	2 Current Liabilities
	a) Financial Liabilities
	i) Borrowings	10463.14	14421.91
	ii) Lease Liabilities	124.47	50.12
	ii) Trade payablesTotal outstanding dues of micro enterprises and small	3.77	1.53
	enterprises
	outstanding dues of creditors other than microTotalenterprises and small enterprises	18781.06	18036.14
	iv) Other Financial Liabilities	14790.53	14121.89
	b) Other Current Liabilities	7609.19	5130.42
	c) Provisions	1803.25	1735.89
	d) Current Tax Liabilities	1315.75	764.08
	Total - CurrentLiabilities	54891.16	54261.98
	TOTAL EQuITY AND LIABILITIES	169390.65	159267.79

1 )

Mangalam Cement Limited

(Rs. In Lakhs)

	Statement of Cash Flow
S.No	Particulars	SixMonths ended30th September, 2020 30th September, 2019	Six Months ended
			Unaudited
	A. CASH FLOWS FROM OPERATING ACTIVITIESProfit before tax
	Adjustments for:	5,419.01	7.436 22
	Depreciation and amortization expense
	Financecosts	3.149 90	2.377 39
	Interest income	3.217.19	2.868 22
	Net (Gain)/ loss on sale of property. plant and equipment	(1.146.00)	(1.038.45)
	(Gainloss on fair valuation of financial assets measured at FVTPL	3.65	(1.42)
	Net gain on sale of investments	209.42)	93 27
	Loss on interest rate swap	(3.00)	(14.58)
	Operating profit before working capital Changes	10,431.33	21.7811,74243
	Changes in Working Capital
	Increase/ (decrease) in trade and other payables
	(Increase)/ decrease in trade and other receivables	3.464.15	6.206.81
	(Increase)/ decrease in inventories	(2.453.12)	(6.114.78)
	Cash generated from operation	1.060 85	2.142.07)
	Income taxes refund /(Paid)	12,503.21	9,692.39
	Net cash flow from operating activities (A)	97.3912,600.60	(261.38)
			9,431.01
	B. CASHFLOWS FROM INVESTING ACTIVITIES:
	Purchase of property,. plant and equipment	(2.986 42)	(6.021.52)
	Sale of property. plant and equipment	47.14	27.77
	Purchase of investments		(500.00)
	Sale of investments	2.976.67	500.00
	Inter Corporate Deposits given	(8.900.00)
	inter Corporate Deposits refunded back	9,375.00	4.640.00)6.350.00
	Movement in fixed deposits
	Interest received	(5,943.20)	485.29
	Net cash flow used in Investing activities (B)	213.795,217.02)	122 55(3,675.91)
	C.CASH FLOWS FROM FINANCING ACTIVITIES:interest and financial charges
		(3.124.13)	(3.056.18)
	Dividend paid (including dividend distribution tax)Payment of lease liability	(266.94)	(160.91)
	Proceed from borrowings from Government	(92 83)
	Proceeds from non current borrowings
	Repayment of non curent borrowings	7,500.00	9.953.05
		(2.371.01)	(8.133.93)
	Net proceed from current borrowings	(3,958.77)	(384 91)
	Net Cash Flow used in financing activities (C)	(2,313.68)	(1.782.88)
	Net increase/ (decrease) in cash and cash equivalents (A+B+C)
	Cash and cash equivalents at the beginning of the period	5,069.90	3.972 22
	Cash and cash equivalents at the end of the period	6,332.0011,401.90	66 534,038.75

1 )

NOTES

• The Company is taking all possible steps to mitigate the impact of Covid-19. As per current indicators of the future economic conditions, management does not foresee any risk to service its Financial obligation and expects to recover the carrying amount of its Assets. The impact of any future developments out of pandemic occurring after approval of the above Financial Results will be recognised prospectively. 1.
• Scheme of Amalgamation between Mangalam Timber Products Limited with Mangalam Cement Limited ("the Company") w.e.f. April 1, 2019 (appointed date), has been filed with respective NCLTs. Mangalam cement Ltd had to defer the meeting of Equity shareholders and its creditors scheduled to happen on 18th April'20, because of nationwide lockdown and shall conduct the meeting on getting a fresh date from NCLT-Jaipur bench. Mangalam timber application was scheduled to be heard on 31st march 20 but could not happen because of the lockdown and the same application has been reheard on 12th June but order has been reserved for pronouncement. The meetings shall be held as per direction received from NCLT-Cuttack bench. Pending sanction of the scheme, no impact has been considered in these financial results. 2
• 1. The Company has only one business segment, which is "Cement".
• 4 Previous periods figures have been regroupedI rearranged wherever necessary.
• The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 7th November, 2020 and have been reviewed by the Statutory Auditors of the 5 Company.

By Order of the Board

)

Anshuman Vikram Jalan Co-Chairperson DIN 01455782 Place: Kolkata

Date: 7th November, 2020

Chat1ered Accountants

Unit No.1704, 17th Floor, Tower B, World Trade Tower, DND Flyway, C-01, Sector 16, Noida-201301, Delhi-NCR (India) I Ph:(0120) 2970005 Mob. 9205575996 E-mail : newdelhi@singhico.com I Website : www.singhico.com

Independent Auditor's Review Report on Quarterly and Half Yearly Unaudited Financial Results Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, as amended

To the Board of Directors of Mangalam Cement Limited

• 1. We have reviewed the accompanying statement of unaudited financial results ("the Statement") of Mangalam Cement Limited ('the Company") for the quarter and half year ended September 30, 2020. This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the statement based on our review.
• 1. 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial results are free of material misstatement. A review is limited primarily to inquiries of company personnel ar.id 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.
• 1. 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 read with notes therein, prepared in all material respects in accordance with the applicable accounting standards and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

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

hf!/ -- Bimal Kumar Sipani

Partner Membership No. 088926 UDIN : 20088926MAAML5937

Place: Neida (Delhi - NCR) Date: November 07, 2020