Modi Rubber Ltd. — Audit Report / Information 2020

Jul 30, 2020

Wa Ptered AC em SALT ANCS

Suresh Surana & Associates LLP

2nd Floor

Independent Auditor's Report on Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015

TO

THE BOARD OF DIRECTORS OF

MODI! RUBBER LIMITED,

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying standalone quarterly financial results of Modi Rubber Limited ("the company") for the quarter ended and year ended 31% March 2020 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 ("Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us these standalone financial results:

• i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• il. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the company for the quarter ended and year ended 31st March 2020

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 (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 together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 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 we have obtained is sufficient and appropriate to provide a basis for our opinion.

Head Office: roint Offices at: Murr

Management's Responsibilities for the Standalone Financial Results Chartered Acc

¥culy Tel Cad he

This Statement, is the responsibility of the Company's Management and approved by the Board of Directors, has been compiled from the related audited Interim condensed standalone financial statements for the year ended March 31, 2020. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' 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 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 standalone 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 financial results, 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 standalone 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 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 these standalone financial results.

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

• ^eIdentify 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.
• ^eObtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
• ^eEvaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• ^eConclude 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. Chartered Accountants

• ^eEvaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
• ^eObtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company to express an opinion on the Standalone Financial Results

Materiality is the magnitude of misstatements in the Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Results.

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

FOR SURESH SURANA & ASSOCIATES LLP / W-100010

(Rahul Singhal)

PARTNER Membership No: 096570 UDIN: 2ooVESPOAANAAN BI ZIV

Place: New Delhi Dated: 2at* Awie 20 20

Suresh Surana & Associates LLP Ree rnmtante PbACCOURCANLS

Suresh Surana & Associates LLP

Independent Auditor's Report on Consolidated financial results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015

TO

THE BOARD OF DIRECTORS OF MODI RUBBER LIMITED,

Opinion

We have audited the accompanying consolidated annual financial results of Modi Rubber Limited (hereinafter referred to as the 'Holding Company") and its subsidiaries (Holding Company and its subsidiaries tog ether referred to as "the Group"), its associates and jointly controlled entities for the year ended 31° March 2020, 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'). S. No. Name of Entity 1: Superior Investments (India) Limited Spin Investment (India) Limited Joint Ventures

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated financial results:

(i) includes the financial results of the following entities

	Regulations, 2015, as amended ('Listing Regulations').
	aforesaid consolidated financial results: the financial results of the following entities
	Subsidiaries
1:	Superior Investments (India) Limited
	Spin Investment (India) Limited
	Joint Ventures
	Asahi Modi Materials Private Limited
WIN >	Gujarat Guardian Limited
	Modi Marco Aldany Private Limited
	Associates
	Vinura Beverages Private Limited

• (ii) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• (iii) give a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Group for the year ended 31° March 2020.

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 ("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 are independent of the Group, its associates and jointly controlled entities 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 ofthe financial statements under the provisions of the Companies Act, 2013 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.

Management' Responsibilities for the Consolidated Financial Results

These Consolidated financial results have been prepared on the basis of the consolidated annual financial statements. The Holding Company's Management and Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group including its associates and jointly controlled entities in accordance with the Indian 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 and of its associates and jointly controlled entities 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 its associates and jointly controlled entities 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 consolidated financial results 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 consolidated financial results by the Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities are responsible for assessing the ability of the Group and its associates and jointly controlled entities 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 and of its associates and jointly controlled entities are responsible for overseeing the financial reporting process of the Group and of its associates and jointly controlled entities.

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

Our objectives are to obtain reasonable assurance about whether the consolidated 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 SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or errorand 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 consolidated financial results.

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

e Identify and assess the risks of material misstatement of the consolidated 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.

• e 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.
• e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• e 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 and its associates and jointly controlled entities 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 consolidated 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 Group and its associates and jointly controlled entities to cease to continue as a going concern.
• e Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
• e Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group and its associates and jointly controlled entities to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors.

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial results 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 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matters

The consolidated Financial Results include the unaudited Financial Results of 1 associate whose financial information reflect Group's share of total net loss of Rs 0.97 lacs and 3 jointly controlled entities, whose financial information reflect Group's share of total net profit after tax of Rs 812.83 lacs for the year ended 31% March 2020, as considered in the consolidated Financial Results. These

unaudited financial information have been furnished to us by the Board of Directors-and ourcopiniomom tants the consolidated Financial Results, in so far as it relates to the amounts and disclosures included in respect of associate and jointly controlled entities is based solely on such unaudited financial information. In our opinion and according to the information and explanations given to us by the Board of Directors, these financial information are not material to the Group.

Our opinion on the consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the Financial Results/financial information certified by the Board of Directors.

The Financial Results include the results for the quarter ended 31° March 2020 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

FOR SURESH SURANA & ASSOCIATES LLP Chartered Accountants Firm's Registration No. 121750 W / W-100010

Place: New Delhi Dated: yt Joue 2020 Modi Rubber Limited

CIN: L25199UP1971PLC003392, Registered office : Modinagar - 201204 (U. P.)

Statement of Standalone and Consolidated Audited Financial Results for the Quarter and year ended March 31, 2020

PARTI											(Amount in Lacs)
S.No.	Particulars				Quarter ended					Year ended
			Standalone			Consolidated			Standalone	Consolidated
		Mar 31, 2020	Mar 31, 2019	Dec 31, 2019	Mar 31, 2020	Mar 31, 2019	Dec 31, 2019		Mar 31, 2020 Mar 31, 2019	Mar 31, 2020 Mar 31, 2019
		Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Audited	Audited	Audited	Audited
		Note 11	te 11 $\frac{5}{2}$		Note 11	Note 10 & 11					Note 10
ଚ	Net Sales / Income from Operations Revenue from operations
G	Other Operating Revenue	164.01	134.13	125.36	140.01	134.13	125.36	513.35	523.70	489.35	523.70
	Total Revenue from operations	164.01	$\frac{134.13}{2}$	125.36	140.01	134.13	125.36	513.35	523.70	489.35	523.70
$\mathbf{\Omega}$	Other Income	585.50	722.83	122.23	143.60	722.83	191.66	2669.19	2500.74	1147.23	3776.10
3	Total income (1+2)	749.51	856.96	247.59	283.61	856.96	317.02	3182.54	3024.44	1636.58	4299.80
4	Expenses
a	Cost of material consumed			ï	I.			ĭ.
b	goods, work-in-progress and stock-in- Change in inventories of finished trade		$\mathbf I$	J.	J,					J.	$\,$
$\widehat{\mathbf{c}}$	Employee benefits expense	132.57	116.61	136.01	132.57	116.61	136.01	465.41	457.55	465.41	463.55
$\widehat{\sigma}$	Finance costs	33.92	30.18	7.75	33.92	31.43	7.73	57.17	54.75	60.57	58.27
$\widehat{\mathbf{e}}$	Depreciation and amortisation expense	77.49	85.81	75.98	77.49	85.81	75.98	297.30	333.66	297.30	333.66
D	Other expenses	354.78	466.36	436.74	365.06	475.98	433.01	1513.24	1632.73	1555.84	1654.89
	Total Expenses	598.76	698.96	656.48	609.04	709.83	652.73	2333.12	2478.69	2379.12	2510.37
5	operations before exceptional Items Profit/(Loss) from continuing	150.75	158.00	(408.89)	(325.43)	147.13	(335.71)	849.42	545.75	(742.54)	1789.43
6	Exceptional Items
$\overline{ }$	operations before tax and share in net profit/(loss) of joint ventures Profit /(Loss) from continuing and associates (5-6)	150.75	158.00	(408.89)	(325.43)	147.13	(335.71)	849.42	545.75	(742.54)	1789.43
$\infty$	Share in net profit/ (loss) of joint ventures and associates		$\blacksquare$	T,	(61.60)	(983.97)	214.75			811.97	ı
တ	Profit/ (loss) before tax (7+8)	150.75	58.00	(408.89)	(387.03)	(836.84)	(120.96)	849.42	545.75	69.43	1789.43
$\overline{C}$	- Current Tax Tax expense			$\mathbf{I}$	19.17	201.37				19.17	201.37
	- Deferred Tax - Earlier year	183.80 101.07	64.26 20.20	$\blacksquare$ $\mathbf{I}_1$	183.70 100.57	60.34	(0.81)	183.80 101.07	64.26 20.20	99.76 183.70	153.33 60.34
	- MAT credit written off					$(153.33)$ $(10.24)$					(10.24)
$\overline{1}$	Net Profit/(Loss) from continuing operations after tax (9-10)	(134.12)	73.54	(408.89)	(690.47)	1241.64)	(120.15)	564.55	461.29	(233.20)	1384.63
12	Other comprehensive income/(loss)	(150.71)	121.47	(145.96)	(318.70)	190.13	(249.52)	(235.63)	281.96	(401.59)	500.70
$\frac{3}{2}$	Total Comprehensive Income/(Loss) for the quarter (11+12)	(284.83)	195.01	(554.85)	(1009.17)	$\frac{1}{2}$ (1691.82) MOINS HSEARS	(369.67) CIATES LLO	328.92	743.25	(634.79)	1885.33

S.No.	Particulars			Quarter Ended					Year ended
			Standalone			Consolidated			Standalone	Consolidated
									Mar 31, 2020 Mar 31, 2019 Dec 31, 2019 Mar 31, 2020 Mar 31, 2019 Dec 31, 2019 Mar 31, 2020 Mar 31, 2019	Mar 31, 2020 Mar 31, 20
			Un-Audited Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audite
$\overline{\bf 4}$	Paid-up equity share capital (Rs. Lacs) (Face value Rs. 10/- per share)	2504.05	2504.05	2504.05	2504.05	2504.05	2504.05	2504.05	2504.05	2504.05	2504.
$\frac{5}{5}$	(as per balance sheet of previous accounting year) Reserves excluding revaluation reserves (Rs. Lacs)	ΛŅ.	N.A.	N.A.	N.A.	N.A.	X. Z.	N.A.	N.A.	N.A.	ż
$\frac{6}{2}$	i Earnings per share (EPS) (a) Basic (in Rs.)	$(0.54)$ $(0.54)$	0.29	$(1.63)$ $(1.63)$		(4.96)		2.25	1.84
	* Not Annualised (b) Diluted (in Rs.)		0.29		$(2.76)$ $(2.76)$	(4.96)	$(0.48)$ $(0.48)$	2.25	1.84	$(0.93)$ $(0.93)$	5.5

PART II Selected Information for the Quarter ended March 31, 2020

S.No.		Particulars			Standalone
				Quarter Ended			Year ended
				Mar 31, 2020 Mar 31, 2019	Dec 31, 2019		Mar 31, 2020 Mar 31, 2019
			Un-Audited	Un-Audited	Un-Audited	Audited	Audited
A		OF SHAREHOLDING PARTICULARS
		Number of Shares Public Shareholding		9,341,580	9,341,580	9,341,580	9,341,580
		Percentage of Shareholding	9,341,580 37.31	37.31	37.31	37.31	37.31
2	a	Promoters and promoter group Shareholding Pledged/Encumbered:
		No of Shares	1,288,015	1,288,015	1,288,015 8.20	1,288,015	1,288,015 8.20
		% age of Shares (as a % age of the total Shareholding of Promoter and Promoter group)		8.20		8.20
		% age of Shares (as a % age of the total Share capital of the Company)	5.14	5.14	5.14	5.14	5.14
	ය	Non Encumbered:
		No of Shares	14,410,937	14,410,937	14,410,937	14,410,937	14,410,937
		% age of Shares (as a % age of the total Shareholding	91.80	91.80	91.80	91.80	91.80
		of Promoter and Promoter group)
		% age of Shares (as a % age of the total Share capital $\blacksquare$	57.55	57.55	57.55	57.55	57.55
		of the Company)
					ended Mar Quarter
					31,2020
Б		INVESTOR COMPLAINTS					CONTRACTOR
		Pending at the beginning of the quarter			$\equiv$		ANOIDA RE
		the quarter Received during

$\equiv$

Remaining unresolved at the end of the quarter

Disposed off during the quarter

$\bar{\mathbf{z}}$

Modi Rubber Limited

1. Financial Results for the quarter ended March 31, 2020

(a) Net profit/(loss) from ordinary activities (after tax): Rs. (134.12) Lacs

(b) Other Comprehensive income/(loss): Rs. (150.71) Lacs

1. Pursuant to requirement of SEBI (Listing Obligation and Disclosure Re SEBI during the year dt 2nd August 2019 with regard to interpretation company's quarterly/annually consolidated financial results for the current period also includes sh along with its subsidiaries (which were only considered in consolidation of previous period results). quarter ended 31st March 2019 and year ended 31st March 2019 is not comparable with the current of Regulation 33(3)(b) year results. quirements) Regulations 2015 as amended and informal guidance issued by on submission of consolidated financial results, the are of profit/loss from Joint Ventures and Associates To that extent, consolidated figures of corresponding (Amount in Lacs)

	(c) Total Comprehensive income/(loss) for the quarter (after tax) : Rs. (284.83) Lacs
	2. The above financial results for the quarter and year ended March 31, 2020 have been re Directors at their meeting held on June 30th, 2020.				viewed by the Audit Committee and approved by the Board of
on the same.	3. The Statutory Auditors have carried out an audit of the above results for the				quarter and year ended March 31, 2020 and issued an unmodified opinion
considered necessary.	4. In accordance with IND AS 108 - Operating Segment used to present the se Company to allocate resource to the segment and assess their Decision Maker (CODM).The Company is engaged in Renting considered as the only segment. The Company's activities are restricted within India		performance. The Board of Directors of the Company is collectively Chief Operating of immovable property which in the context of Ind AS 108		gment information are identified on the basis of informal report used by the and hence no separate geographical segment disclosure is	"Operating Segment" is
	5. Modi Nagar Plant, set-up on the land & shed taken on lease from Modi Export Processors Limited ( repaired/re-started due to seal put in by the Official Liquidator of MEPL. The Company has filed Speci Allahabad High Court for taking back possession for carrying out industrial activities.				MEPL) which is under liquidation, could not be ial Leave Petition before the Division Bench of
	6. In compliance of directions issued by the BIFR implementation by the company and a status report to this effect as at September 30, 2016 was also submitted by the company with BIFR periodically on October 20, 2016. With effect from December 01, 2016, SICA repealed by Governmen and all approved schemes will now be governed by National Company Law Tribunal.		vide its order dated February 23, 2010, the unimplemented portion of the SS-08 is under		t of India vide its Gazette Notification dated November 25, 2016
	7. During the quarter ended March 31, 2020, the Company has not granted any stock options under Employee Stock Option Scheme to its employees.
	8. During the quarter ended March 31, 2020 the Company has not allotted an 2,504.05 lacs consisting of 25,040,532 Equity Shares of the face value of Rs. 10/- each.				y equity Shares. Paid up Capital of the Company as on March 31, 2020 is Rs
	9. The basic and diluted earnings per share has been calculated in accordance with the IND AS - 33 "Earnings Per Share".
	10. Pursuant to requirement of SEBI (Listing Obligation and Disclosure Re SEBI during the year dt 2nd August 2019 with regard to interpretation company's quarterly/annually consolidated financial results for the current period also includes sh along with its subsidiaries (which were only considered in consolidation of previous period results). quarter ended 31st March 2019 and year ended 31st March 2019 is not comparable with the current		of Regulation 33(3)(b)	year results.	quirements) Regulations 2015 as amended and informal guidance issued by on submission of consolidated financial results, the are of profit/loss from Joint Ventures and Associates To that extent, consolidated figures of corresponding
December 31, 2019 and December 31 2018.	11. Figures (consolidated as well as standalone) figures for the twelve months ended March 31, 20		for the quarters ended March 31, 2020 and March 31, 2019 represent the difference between audited 20 and March 31 2019 (read together with Note 10) and the published figures for the nine months ended
	12. The company has adopted modified approach as per para C8(b)( beginning 1st April 2019. This has resulted in recognizing a right of use Rs.171.08 lacs as at 1st April 2019. In the statement of profit and lo: depreciation cost for the right of use assets and finance cost for interest		li)of INDAS 116 - Leases to its leases, effective from annual reporting period assets (an amount equal to lease liability, adjusted by the prepaid lease rent) of ss for the current period, operating lease expenses has changed from rent to accrued on lease liability.
To extent, this	performance the for Reconciliation for the above effect on statement of profit and loss for the current period 31st March, 2020 as follows:	current period 31st	March, 2020 is	comparable not	previous with	period results.
Adjustment to	Quarter ended					(Amount in Lacs)
increase / (decrease)	31.03.2020	Quarter ended 31.03.2020	Increase/ (Decrease)	Year ended	Year ended	Increase/
in net profit	(Erstwhile basis)	(As per Ind AS-116)	in profit	31.03.2020	31.03.2020	(Decrease) in
					(Erstwhile basis) (As per Ind AS- _ profit 116)
Other Expenses	363.06	354.78	8.28	1,546.36	1,513.24
Finance costs	29.25	33.92	(4.67)	38.44	57.17	33.12 (18.73)
Depreciation and	71.97	77.49	(5.52)	275.21	297.30	(22.09)
amortisation expense
Profit/(loss) before tax	152.66	150.75	1.91	857.12	849.42	7.70

Modi Rubber Limited

¹³The Group has made investments of Rs.2,766.69 lacs and has given loans and advances of Rs. 4.01 lacs (inclusive of interest) aggregating to Rs.2,770.70 lacs (hereinafter together referred as "Exposure") in "Vinura Beverage Private Limited" and "Uniglobe Mod Travels Private Limited" which are associate Company and company under same management. The Group's management has made an assessment that considering the long term and Strategic nature of investment, impairment in the value of investments due to erosion in the networth of the investee entities is considered temporary and accordingly there is no need to make impairment/provision against the same at this stage.

nationwide 14. The outbreak of Coronavirus (COVID -19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. A lockdown was declared by the Government of India ('GOI') with effective from 23 March 2020 and GO! has declared it as an 'Act of God" as result of said pandemic which is still further extended with some relaxation and continuity of essential services. The Company has definitive evaluated impact of this pandemic on Its business operations and based on its review on liquidity position, recoverability of assets and current indicators of future economic conditions to the extent possible in view of highly uncertain economic environment as on date, there is no adjustment required at this stage.

1. Previous and corresponding quarter figures have been regrouped and rearranged wherever considered necessary to conform to the classification in current quarter.

For Modi Rubber Limited

Fe ( Kumar Modi)

Managing Director

Place: New Delhi Date: 30th June, 2020

seer RL Balance Sheet as at March 31, 2020
				(Amount in lacs)
Particulars	Standalone As at	As at	As at	Consolidated As at
ASSETS	March 31, 2020 Audited	March 31, Audited	March 31, Audited	March 31, 2019 Audited
Non-current assets Property, plant and equipment	2,945.08	2,936.17	2,945.08	2,936.17
Other intangible assets Investment in joint ventures and associate	1.88 -	2.43 -	1.88 19,549.37	2.43 20,578.21
Financial Assets Investments	7,048.32	7,083.20	- 8,335.30
Loans Other financial assets	16.03 4,100.17	16.02	16.03	8,660.11 16.02
Deferred tax assets(net) Other non-current assets	177.65 972.14	4,491.42 333.95 1,063.49	4,100.17 347.65	4,491.42
				484.60
Total non-current assets	15,261.27	15,926.68	974.90 36,270.38	1,071.64 38,240.60
Current Assets Inventories
Financial Assets	-	=	-	-
Investments Trade receivables	3,817.10 113.67	2,978.12 43.02	6,430.76 68.59	5,428.66 43.02
Cash and cash equivalents Other Bank balances	602.79	831.54	616.25 200.00	847.90 200.00
Loans Other financial assets	41.10 3.32	27.15 31.86	84.98 15.84	213.27 44.38
Current tax assets (net) Other current assets	- 241.19	- 246.96	14.02 241.19	- 246.96
Total current assets	4,819.17	4,158.65	7,671.63	7,024.19
Total Assets	20,080.44	20,085.33	43,942.01	45,264.79
Il EQUITY AND LIABILITIES Equity
Share capital Other equity	2,504.05 14,313.66	2,504.05 13,958.66	2,504.05 38,165.48	2,504.05
Total equity	16,817.71	16,462.71	40,669.53	39,130.66 41,634.71
LIABILITIES Non-Current Liabilities
Financial liabilities Borrowings	291.74	287.29
Other financial liabilities Provisions	157.91 -	59.26	291.74 157.91	287.29 59.26
Other non-current liabilities Total non-current liabilities	5.28 454.93	32.91 379.46	- 5.28	3.89 32.91
Current liabilities			454.93	383.35
Financial liabilities Trade payables	136.62
Other financial liabilities Other current liabilities	833.19 1,837.99	136.62 654.34	137.73 836.73	136.89 657.31
Total current liabilities	2,807.80	2,452.20 3,243.16	1,843.09 2,817.55	2,452.53 3,246.73