M.K.Proteins Limited — Annual Report 2021

Jun 30, 2021

30th June, 2021

To, Listing Department, National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (E) Mumbai-400051.

Respected Sir/Ma'am,

Reference: Scrip Code/ Symbol: MKPL

Subject: Outcome of the Board Meeting held today i.e, on 30th June, 2021 pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Pursuant to the captioned subject, we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. Wednesday, June 30, 2021 at the Registered Office of the Company situated at Naraingarh Road, Vill Garnala Ambala City, Haryana - 134003 which commenced at 05:00 P.M. and concluded at 06: 00 P.M. have considered the following:

• 1. Considered, approved and took on record the Audited Financial Results for the half year and year ended on March 31, 2021 along with Audit Report
• 1. Considered, approved and took on record the Audited Financial Statements for the financial year ended on March 31, 2021

Request you to kindly take the information on record

Thanking you,

Yours faithfully, For M.K. Proteins Limited um

VINOD KUMAR Managing Director DIN: 00150507

M. K. Proteins Limited

Naraingarh Road, Village Garnala, Ambala City(Haryana), India - 134003 IW: www.mkproteins.in I E: mkproteins1@gmail.com I info@mkproteins.in CIN: L15500HR2012PLC046239

M. K. PROTEINS LIMITED (Formerly Known as M. K. Proteins Private Limited) Regd. Office: Naraingarh Road, Village Garnala, Ambala City (Haryana), India - 134003 T: 0171-2679358 | W: www.mkproteins.in | E: info@mkproteins.in TIN: 06291043467 CIN: U15500IIR2012PLC046239

Dated: 30th June 2021

The General Manager, Listing Department, NSE Limited-SME Platform Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai - 400051

Ref: MKPL

Sub: Audited Standalone Financial Results for the half-year and for the year ended March 31, 2021

ŧ.

Sir,

To,

We wish to inform you that the Board of Directors of the company has approved the audited standalone financial results for the half-year and for the year ended March 31, 2021 pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") in their meeting held on 30th June, 2021. We enclose the following:

$a)$ Statement showing the Audited standalone Financial Results for the half-year and for the year ended 31st March 2021.

$b)$ Auditor's Report on Standalone Financial Results for the half-year and for the year ended 31st March 2021.

Declaration regarding Unmodified opinion on Audited standalone Financial Results under Regulation 33(3)(d) of the $c)$ Sccurities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2016

A copy of the same will be updated on the Company's Website.

Kindly take the information on record.

Thanking you, Yours faithfully, For M. K. Proteins Limited wui

(VINOD KUMAR) Managing Director DIN: 00150507

JAYANT BANSAL & CO. Chartered Accountants

Off.: 320, Mahesh Nagar, Ambala Cantt. - 133 001 Phone: 2642401 (Off.) 2661320 (Resi.)

Independent Auditor's Report on Half yearly Financial Results 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

To, The Board of Directors, M. K. Proteins Limited Naraingarh Road, Village Garnala, Ambala City (Haryana), India - 134003

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of half-yearly and year to date standalone financial results of M, K. Proteins Limited (the "Company") for the half year 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 aforesaid standalone financial results:

• (i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and
• (ii) give 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 financial information of the Company for the half-year 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 are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") 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 ICAI's Code of Ethics. We believe that the audit evidence we have obtained by us is sufficient. and appropriate to provide a basis for our audit opinion.

Emphasis of Matter

We draw attention to Note 7 in the standalone financial results, which describes the economic and social consequences the entity is facing as a result of COVID-19 pandemic which is impacting business operation and carrying amounts of current and non-current assets of the Company. Our opinion is not modified in respect of this matter."

Management's Responsibilities for the Standalone Financial Results

These standalone financial results have been prepared on the basis of the standalone annual financial statements. The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit 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 also includes 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 accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error

In preparing the standalone annual financial results, the Management and 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 is responsible for overseeing the Company's financial reporting process of the company.

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

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are 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 Standards on Auditing 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 these standalone annual financial results.

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 standalone financial results, 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 Companies act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference of 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 management and Board of Directors.
• Conclude on the appropriateness of management and 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 standalone annual 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 standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent 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 where applicable, related safeguards.

Other Matters

The standalone annual financial results include the results for the half-year ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the first half of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

Place: Ambala Cantt

Jayant Bansal & Co., For BANS Chartered Accountants Firm Regd No. 004694N AMBAL Δ CANTT AVANT BANSAL M. No. 086478 (PARTNER) FO ACCOU ÚDIN: 21086478AAAABH9008

Date: 30-06-2021

(Formerly Known as M. K. Proteins Private Limited)Regd. Office: Naraingarh Road, Village Garnala, Ambala City (Haryana), India - 134003 T: 0171-2679358 | W: www.mkproteins.in | E: info@mkproteins.inTIN: 06291043467 CIN: U15500HR2012PLC046239

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE HALF-YEAR ENDED AND FOR YEAR ENDED 3151 MARCH 2021 (De In Locc)

		HALF YEAR ENDED			(I/2, 111 1/462)YEAR ENDED
		31-03-2021(AUDITED)	30-09-2020(UNAUDITED)	31-03-2020(AUDITED)	31-03-2021(AUDITED)	31-03-2020(AUDITED)
1.	Revenue			14948.49	31109.79	19401.81
$\mathbf{a}$	Net Sales/Income from Operations	21204.70	9905.09	0.00	0.00	10.45
	Other operating Revenue	0.00	0.00	14948.49	31109.79	19412.26
	Revenue from Operation (Net)	21204.70	9905.09	27.17	4.80	31.50
b)	Other Income	2.79	2.01		31114.59	19443.76
	Sub-Total "1"	21207.49	9907.10	14975.66
	2. Expenditure				22117.73	16978.56
$\mathbf{B}$	Cost of Material Consumed	17529.74	4587.99	13921.13	5560.78	1830.15
b)	Purchase of Stock-in-Trade	2700.96	2859.82	1151.77		(808.94)
c)	Change in inventories of Finished Goods,Work-in-progress and Stock-in-Trade	(716.06)	1616.96	(1103.21)	900.90
d)	Employees Benefits Expenses	82.68	72.03	75.14	154.71	156.19
	c) Manufacturing, Operating and Other Expenses	480.57	301.82	571.10	782.39	777.20
$\Omega$	Finance Costs	50.42	24.56	80.40	74.98	149.18
	g) Depreciation and Amortization Expenses	45.38	45.56	56.63	90.94	117.10
	Sub-Total "2"	20173.69	9508.74	14752.96	29682.43	19199.44
	Exceptional,before$3$ Profit/(Loss)Extraordinary items and Tax $[1-2]$	1033.80	398.36	222.70	1432.16	244.32
	4 Exceptional Items	0.00	0.00	0.00	0.00	0.00
	5 Profit/(Loss) before Extraordinary items and$\text{Tax}$ [3-4]	1033.80	398.36	222.70	1432.16	244.32
6	Extraordinary Items	0.00	0.00	0.00	0.00	0.00
	7 Profit/(Loss) before Tax $[5-6]$	1033.80	398.36	222.70	1432.16	244.32
	8 Tax Expensesa) Provision for Current Tax	297.95	104.37	62.00	402.32	74.74
b)	TaxDeferredProvisionforLiability/(Adjustment)	(4.94)	(4.11)	(5.46)	(9.05)	(12.11)
	Sub-Total "8"	293.01	100.26	56.54	393.27	62.63
	9 Profit/(Loss) for the Period from continuing	740.79	298.10	166.16	1038.89	181.69
	operations [7 - 8]periodfromthe10 Profit/(Loss)for	0.00	0.00	0.00	0.00	0.00
	Discontinuing operationsTax expenses of Discontinuing operations	0.00	0.00	0.00	0.00	0.00
$\mathbf{11}$12	Profit/(Loss) from Discontinuing operations	0.00	0.00	0.00	0.00	0.00
	(After Tax) [10 - 11]	740.79	298.10	166.16	1038.89	181.69
	13 Profit/(Loss) for the period $[9 + 12]$
	14 Earning Per Shares [EPS]	17.76	7.15	3.99	24.91	4.36
	-Basic	17.76	7.15	3.99	24.91	4.36
	-Diluted
	15 Paid-up Equity Shares Capital	417.08	417.08	417.08	417.08	417.08
	4170800 (Previous year 2708800) Equity	(Rs.10/-each)	(Rs.10/-each)	(Rs.10/-each)	(Rs.10/- each)	(Rs.10/- cach)
	Shares (Face value of Share Rs.10/- each)	2516.76	1775.66	1477.56	2516.76	1477.56
	16 Reserves excluding Revaluation Reserves

AMBALA C $[$ {20}{20}} e FI

Note:

• I. The above mentioned audited results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 30th June, 2021.
• The Statutory auditors of the Company have carried out an audit of the above results for the half year and year to date ended $2.$ March 31, 2021. The Auditors' opinion on half yearly and year to date standalone financial results of the company is unmodified.
• 1. Previous year figures have been regrouped / rearranged, wherever necessary, to confirm with the current period classification.
• 1. The figures for the half year ended March 31, 2021 are the balancing figures between audited figures in respect of the full financial year and the year-to-date published figures up to the half year ended September 30, 2020.
• 1. The Company is engaged in single business activity (i.e. Manufacturing of Vegetable Refined oil) and there is no separate reportable segment as per AS-17.
• 1. Previously the Company has elected to exercise the option permitted under section 115 BAA of the Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) ordinance 2019. Accordingly, the Company has recognized the provision for Income tax for the year ended March 31, 2021.
• 1. The Company has taken into account all the possible impacts of COVID-19 in preparation of standalone financial statements, including but not limited to its assessment of, liquidity and going concern assumption and recoverable values of its financial and non-financial assets. The Company has carried out this assessment based on available internal and external sources of information up to the date of approval of standalone financial statements and believes that the impact of COVID-19 is not material to these financial statements and expects to recover the carrying amount of its assets. The impact of COVID-19 on the standalone financial statements may differ from that estimated as at the date of approval of these standalone financial statements owing to the nature and duration of COVID-19.
• 1. Disclosure of assets and liabilities as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the year ended 31st March, 2021 is given as per Annexure "I" attached

Place: Ambala

Dated: 30-06-2021

(Vinod Kumar) Managing Director AMBAL DIN: 00150507 $C|T$ $20V$

堤

For and on behalf of the board

(Formerly Known as M. K. Proteins Private Limited)Regd. Office: Naraingarh Road, Village Gamala, Ambala City (Haryana), India - 134003 T: 0171-2679358 | W: www.mkproteins.in | E: info@mkproteins.in TIN: 06291043467 CIN: U15500IIR2012PLC046239

ANNEXURE "I"

STATEMENT OF ASSETS AND LIABILITIES AS AT 3157 MARCH 2021 IS GIVEN BELOW: -

	PARTICULARS	ASAT31-03-2021(AUDITED)	AS AT31-03-2020(AUDITED)
A	EQUITY AND LIABILITIES
$\mathbf{I}$	Sharcholder's Funds
	-Share Capital	417.08	417.08
	-Reserves and Surplus	2516.76	1477.56
	Sub-Total - Shareholder's Funds	2933.84	1894.64
2.	Non-Current Liabilities
	-Long Term Borrowings	444.91	396.60
	-Deferred Tax Liabilities (Net)	0.00	0.00
	-Other Long Term Liabilities	0.00	0.00
	-Long Term Provisions	5.56	4.46
	Sub-Total - Non-Current Liabilities	450.47	401.06
3.	Current Liabilities
	-Short Term Borrowings	2011.30	2644.47
	-Trade Payables	804.20	372,64
	-Other Current Liabilities	133.19	267.52
	-Short Term Provisions	402.32	74.74
	Sub-Total - Current Liabilities	3351.01	3359.37
	Total Equity and Liabilities	6735.32	5655,07
B.	ASSETS
$\mathbf{I}$ .	Non-Current Assets
	-Property, Plant and Equipment	245.11	310.15
	-Deferred Tax Assets (Net).	27.68	18.62
	-Long Term Loans and Advances	42.35	42.35
	-Other Non-Current Assets	0.00	0.17
	Sub-Total - Non-Current Assets	315.14	371.29
$\overline{2}$ .	Current Assets
	-Inventories	3769.93	3898.89
	-Trade Receivables	2065.36	950.38
	-Cash and Bank Balances	0.13	11.48
	-Short Term Loan and Advances	584.58	422.85
	-Other Current Assets	0.18	0.18
	Sub-Total - Current Assets	6420.18	5283.78
	Total Assets	6735.32	5655.07

Place: Ambala

Dated: 30-06-2021

$111$ $55C$ AMBALA CITY (Hary: ba

For and on behalf of the board

(Vinod Kumar) Managing DirectorDIN: 00150507

(Formerly Known as M. K. Proteins Private Limited)Regd. Office: Naraingarh Road, Village Gamala, Ambala City (Haryana), India - 134003T: 0171-2679358 | W: www.mkproteins.in | E: info@mkproteins.in

CIN: U15500IIR2012PLC046239

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2021

PARTICULARS		31/03/2021	31/03/2020
		(Rs.)	(Rs.)
A. CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES
Net Profit/(Loss) before tax		1432.16	244.32
Adjustment for: -
-Depreciation		90.94	117.10
-Interest paid		74.98	149.18
-Provision for Doubtful Debts		3.91	0.00
-Provision for Retirement Gratuity Benefit to Employees		1.10	0.51
-Preliminary Expenses Written off		0.18	0.18
-Interest Income		(0.69)	(1.51)
-Profit on sale of Mutual Fund Investment		(4.11)	0.00
-(Profit)/Loss on Sale of Assetsυ		0.00	(4.33)
Operating profit before working capital changes		1598.47	505.45
Adjustment for changes in working capital: -
-Increase/(decrease) in Trade and other Payables		256.17	314.92
-(Increase)/decrease in Trade Receivables		(1118.89)	133.60
-(Increase)/decrease in Inventories		128.95	(964.05)
-(Increase)/decrease in Loans and Advances		(89.83)	(209.52)
Cash generated from operations		774.87	(219.60)
(i) Income Tax paid		(146.33)	(78.11)
(ii) Interest paid		(74.98)	(149.18)
(iii) Dividend paid			0.00
Net Cash inflow/(outflow) from operating activities (A)		553.56	(446.89)
	$\ddotsc$
B. CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES
-Sale Proceeds of fixed assets/Subsidy Received		0.00	19.18
-Sale Proceeds for Investment in Mutual Funds-Increase in Tangible and Intangible Assets (Including Capital		369.11	0.00
work-in-progress)		(25.90)	(3.18)
-Investment in Mutual Funds and others		(365.00)	0.00
-Sundry Creditors for Capital goods		0.00	0.00
-Interest Income		0.69	1.51
-(Increase)/decrease in Long Term Advances & Other Non Current Assets		0.00	0.00
Net Cash Inflow/(Qutflow) from investing activities (R)		(21.10)	17.51

AMBALACITY(Hary:na) $\ddot{\phi}$

C. CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES
-Increase/(decrease) in short term bank borrowings (i.e. cash credit and overdraft facilities)	(633.17)	203.84
-Proceeds from long/short term bank and other long term funds	500.52	350.00
-Repayment of long term Fund (Term Loans and other Unsecured Loans)	(411.16)	(113.40)
-Proceeds from issue of share capital	0.00	0.00
Net Cash Inflow/(outflow) from financing activities (C)	(543.81)	440.44
Net Cash flow during the year $(A+B+C)$	(11.35)	11.06
Cash and Cash Equivalent (Opening Balance)	11.48	0,42
Cach and Cach Equivalent (Closing Ralance)	0.13	11.48

Cash and Cash Equivalent (Closing Balance)

Place: Ambala

Dated: 30-06-2021

For and on behalf of the board

$0.13$

$\mathcal{U}$

$5C$

AMBALACITY(Hary: 178)

C

J.

(Vinod Kumar)Managing DirectorDIN: 00150507

(Formerly Known as M. K. Proteins Private Limited) Regd. Office: Naraingarh Road, Village Garnala, Ambala City (Haryana), India - 134003 T: 0171-2679358 | W: www.mkproteins.in | E: info@mkproteins.in TIN: 06291043467 CIN: U15500HR2012PLC046239

Dated: 30th June 2021

To,

The General Manager, Listing Department, NSE Limited-SME Platform Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai - 400051

Ref: MKPL

Sub: Declaration under Regulation 33(3)(d) of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2016

Dear Sirs,

In compliance with the provisions of Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2016, vide notification no. SEBI/LAD-NRO GN/2016-17 001 dated May 25, 2016 and Circular No. Cir CFD CMD 56 2016 dated May 27, 2016, We, hereby declare that M/s Jayant Bansal & Co., Statutory auditors of the Company have issued an Audit Report with unmodified opinion on the Audited Standalone Financial Results of the Company for the half-year ended March 31, 2021 and for the year ended March 31, 2021.

Place: Ambala

Dated: 30-06-2021

For and on behalf of the board

AMBALA CITY $327'$

(Vinod Kumar) Managing Director DIN: 00150507