Modi Rubber Ltd. — Audit Report / Information 2021

Jun 30, 2021

Suresh Surana & Associates LLP

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 2021 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
• ii. 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 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 (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

Management's Responsibilities for the Standalone Financial Results

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, 2021. 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:

• e 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.
• e Obtain 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.
• e Evaluate 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 [iW SON

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.

• e Evaluate 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.
• e Obtain 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 Chartered Accountants _ Firm's Registration No. 121750 W / W-100010

PARTNER Membership No. 090988 UDIN: 2} dIODASV AAAAH VS425

Place: New Delhi Dated: 3h Suve. Dee? |

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,

Qualified 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 together referred to as "the Group"), its associates and jointly controlled entities for the year ended 31° March 2021, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

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

(i) includes the financial results of the following entities

	the financial results of the following entities
	S.No. Name of Entity
	Subsidiaries
1.	Superior Investments (India) Limited
2.	Spin Investment (India) Limited
	Joint Ventures
=	Asahi Modi Materials Private Limited
2.	Gujarat Guardian Limited
3.	Modi Marco Aldany Private Limited
	Associates
1.	Vinura Beverages Private Limited

• (ii) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• (iii) except for the possible effects of the matters described in the 'Basis for Qualified Opinion' section of our report 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 2021. a

Basis for Qualified Opinion

Note 11 to the results which describe non-provision for impairment/diminution in the carrying value of investments amounting to Rs 2,510.82 lacs as stated in the said note. In the opinion of the management, the diminution does not represent inherent loss in the value thereof. In the absence of appropriate evidence made available to us supporting management's view, we are unable to comment on the recoverability/impairment (if any) of the said amount.

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 qualified 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 and maintain 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 30.36 lacs and 3 jointly controlled entities, whose financial information reflect Group's share of total net profit after tax of Rs 1,162.54 lacs for the year ended 31 March 2021, as considered in the consolidated Financial Results. These unaudited financial information have been furnished to us by the Board of Directors and our opinion on 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 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 2021 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 fi 1750 W /W-100010 me <r \ A =<) Se Membership No. saute UDIN: 9'PABDABBAARAODWEI2S

Place: New Delhi Dated: 30% June 209\

Modi Rubber Limited Balance Sheet as at March 31, 2021

Modi Rubber LimitedBalance Sheet as at March 31, 2021				(Amount in lacs)
5	As at	StandaloneAs at	As at	ConsolidatedAs at
ParticularsASSETS	March 31, 2021]Audited	March 31, 2020Audited	March 31, 2021}Audited	March 31, 2020Audited
Non-current assetsProperty, plant and equipment	2,699.53	2,945.08	2,699.53	2,945.08
Other intangible assetsCapital work-in-progressInvestment in joint ventures and associate	1.3025.10	1.88-	1.3025.1018,785.83	1.88-19,549.37
Financial AssetsInvestments	-7,544.82	-7,048.32	10,411.93	8,335.30
LoansOther financial assets	16.231,337.52	16.034,100.17	16.231,337.52	16.034,100.17
Deferred tax assets(net)Other non-current assets	240.56638.93	177.65972.14	336.13
Total non-current assets	12,503.99		640.13	347.65974.90
		15,261.27	34,253.70	36,270.38
Current assetsInventories	-	"	-	-
Financial AssetsInvestmentsTrade receivables	5,210.6079.03	3,817.10113.67	7,837.4879.03	6,430.7668.59
Cash and cash equivalentsOther bank balances	97.11	602.79-	106.84200.00	616.25200.00
LoansOther financial assets	138.033,034.36	41.103.32	180.753,053.76	84.9815.84
Current tax (net)Other current assets	-256.47	-241.19	13.02256.47	14.02241.19
Total current assetsTotal Assets	8,815.6021,319.59	4,819.1720,080.44	11,727.3545,981.05	7,671.6343,942.01
EQUITY AND LIABILITIESIl
EquityShare capital	2,504.05	2,504.05	2,504.05	2,504.05
Other equityTotal equity	16,223.4118,727.46	14,313.6616,817.71	40,880.3343,384.38	38,165.4840,669.53
LIABILITIESNon-current liabilities
Financial liabilitiesBorrowings	261.51	291.74	261.51	291.74
Other financial liabilitiesOther non-current liabilities	143.844.31	157.915.28	143.844.31	157.915.28
Total non-current liabilities	409.66	454.93	409.66	454.93
Current liabilitiesFinancial liabilitiesTrade payables	136.62	136.62	138.68	137.73
Other financial liabilitiesOther current liabilities	711.381,334.47	833.191,837.99	713.341,334.99	836.731,843.09
Total current liabilities	2,182.47	2,807.80	2,187.01	2,817.55

	Modi Rubber LimitedCash flow Statement for the year ended March 31, 2021
			Standalone		(Amount in lacs)Consolidated
		For the year endedMarch 34, 2021	For the year endedMarch 31, 2020	For the year endedMarch 31, 2021	For the year endedMarch 31, 2020
A	Cash flows from operating activitiesProfit before taxAdjustments for:	723.48	849.42	372.50	69.43
	Depreciation and amortizationProvision of doubtful debts and advancesProvision for diminution in the value of inventory	267.9956.86	297.3020.00	267.9956.86	297.3013.24
	(Profit)/ loss on sale of property, plant and equipment(Profit)/ loss on sale of investment	-(1.96)(33.24)	*3.48(24.54)	(1.96)(14.46)	3.48(25.26)
	Financial assets measured at fair valueInterest on security deposit at amortised costInterest expenses	(162.53)(1.56)6.59	(219.45)(2.99)8.82	(284.14)(1.56)0.51	(379.17)(2.99)12.22
	Interest on leaseLiabilities written backInterest income	18.51(40.06)804.12	18.73(443.31)(114.56)	18.51(40.06)767.74	18.73(443.75)(155.28)
	Dividend receivedSundry balances written off	(2,003.45)-	(1,765.00)47.33	(72.69)-	(62.45)47.33
	Net share of loss in jaint ventures and associateUnwinding of discount on financial assets at amortized costProvision for impairment in the value of investment	1.68748.54	3.62-	(1,140.13)1.68354.10	672.263.62-
	Operating Profit before working capital changesAdjustments for:Increase/(decrease) in trade payables	384.97-	(1,321.15)-	284.89(50.89)	68.710.84
	Increase/(decrease) in other non-current financial liabilitiesIncrease/(decrease) in other non-current liabilitiesIncrease/(decrease) in other current financial liabilities	0.78(0.97)(67.93)	(44.06)(1.55)163.40	-(0.97)(69.51)	(44.06)(1.65)164.41
	Increase/(decrease) in other current liabilitiesDecrease/(increase) in loans and advances	(498.49)(98.81)	(179.20)(15.08)	(503.07)(101.98)	(174.43)127.16
	Decrease/(increase) in other non-current assetsDecrease/(increase) in trade receivablesDecrease/(increase) in other non current financial assets	(106.13)(22.22)2,604.44	74.09(90.65)383.21	(106.13)(15.46)2,604.44	74.09(38.81)383.21
	Decrease/(increase) in other current financial assetsDecrease/(increase) in other current assets	(2,902.63)(15.28)	28.19(40.43)	(2,909.06)(15.28)	28.19(40.43)
	Net cash generated from operationsLess: Taxes paid, net of refund	(722.27)312.62	(1,043.23)(83.81)	(883.02)301.04	547.33(114.19)
	Net cash from operating activities (A)	(409.65)	(1,127.04)	(581.98)	433.14
B_	Cash flows from investing activitiesDividend receivedInterest received	2,003.45(774.32)	1,765.00122.95	2,040.34(731.86)	62.45163.67
	Purchase of property, plant and equipment & IntangiblesProceeds from sale of property, plant and equipmentPurchase of long term investments	(54.90)9.90-	(138.07)-(227.41)	(54.90)9.90-	(138.07)-(122.75)
	Proceeds from sale of short term investmentsPurchase of short term investmentsNet cash from investing activities (B)	1,498.42(2,696.14)(13.59)	3,205.00(3,800.00)927.47	§,512.63(6,621.10)155.01	3,143.00(3,740.51)(632.21)
C_	Cash flows from financing activities
	Increase/ (decrease) in borrowingsRepayment of lease obligationInterest paid	(42.74)(33.11)(6.59)	12.76(33.12)(8.82)	(42.74)(33.11)(6.59)	12.76(33.12)(12.22)
	Net cash from/ (used in) financing activities (C)	(82.44)	(29.18)	(82.44)	(32.58)
	Net increase/(decrease) in cash and cash equivalents (A+B+C)Cash and cash equivalents at the beginning of the year	(505.68)602.79	(228.75)831.54	(509.41)616.25	(231.65)847.90
	Cash and cash equivalents at the end of the year	97.11	602.79	106.84	616.25
	Cash and cash equivalentsCash in hand	§.26	4.58	5.26	4.58
	Balances with banks- In current account- Deposits with original maturity of upto 3 months	91.85	598.21	101.58	0.00611.670.00
[Total		-97.11	-602.79	106.84	616.25

Notes:

(i) The cash flow statement has been prepared under the indirect method as set out in Ind AS 7 Cash Flow Statements.

(ii) Amounts in brackets represent a cash outflow or a loss.

Modi Rubber LimitedCIN: L25199UP1971PLC003392, Registered office : Modinagar - 201204 ( U. P.)

Statement of Standalone and Consolidated Audited Financial Results for the Quarter and Year ended March 31, 2021

$rac{1}{\text{S.Mol}}$												(Amount in Lacs)
		Particulars				Quarter ended				Year ended
				Standalone			Consolidated			Standalone	Consolidated
			March 31, 2021 M	arch 31, 2020	Dec 31, 2020		March 31, 2021 March 31, 2020	Dec 31, 2020		March 31, 2021 March 31, 2020	March 31, 2021 March 31, 2020
			Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Audited	Audited	Audited	Audited
			Note 10			Note 10
		Revenue from operations
	ଟି	Vet Sales / Income from operations
	ô	Other operating revenue	94.29	164.01	50.86	88.29	140.01	38.86	301.17	513.35	277.17	489.35
		Total Revenue from operations	94.29	164.01	50.86	88.29	140.01	38.86	301.17	513.35	277.17	489.35
2		Other Income	1,541.27	585.50	98.83	878.21	143.60	151.28	3,120.82	2,669.19	1,330.76	1,147.23
ω		Total income (1+2)	1,635.56	749.51	149.69	966.50	283.61	190.14	3,421.99	3,182.54	1,607.93	1,636.58
4		Expenses
	a	Cost of material consumed			r		ı
	a	Change in inventories of finished goods, work-in-progress and stock-in-trade										$\mathbf i$
	ō	Employee benefits expense	90.46	132.57	98.13	90.46	132.57	98.13	413.08	465.41	413.08	465.41
	ଚ	Finance costs	36.67	33.92	6.31	38.16	33.92	6.31	62.14	57.17	63.65	60.57
	$\widehat{\mathbf{e}}$	Depreciation and amortisation expense	67.49	77.49	68.15	67.49	77.49	68.15	267.99	297.30	267.99	297.30
	∊	Other expenses	426.17	354.78	330.90	437.15	365.06	331.38	1,206.76	1,513.24	1,276.74	1,555.84
		Total expenses	620.79	598.76	503.49	633.26	609.04	503.97	1,949.97	2,333.12	2,021.46	2,379.12
5		Profit/(Loss) from continuing operationsbefore exceptional Items and tax (3-4)	1014.77	150.75	(353.80)	333.24	(325.43)	(313.83)	1,472.02	849.42	(413.53)	(742.54)
6		Exceptional Items (Refer note 12)	(748.54)			(614.30)			(748.54)		(354.10)
$\overline{ }$		before tax and share in net profit/ (loss) ofProfit /(Loss) from continuing operationsjoint ventures and associates (5-6)	266.23	150.75	(353.80)	(281.06)	(325.43)	(313.83)	723.48	849.42	(767.63)	(742.54)
$\infty$		Share in net profit/ (loss) of joint venturesand associates		ı	J.	487.98	(61.50)	693.29	ï		1,140.13	811.97
თ		Profit/ (loss) before tax (7+8)	266.23	150.75	(353.80)	206.92	(387.03)	379.46	723.48	849.42	372.50	69.43
$\overline{5}$		- Current taxTax expense	154.77			168.91	19.17		154.77		168.91	19.17
		- Deferred tax- Earlier year	(200.58)	101.07183.80	(1.57)	(256.43)	100.57183.70	(1.57)	(1.57)(200.58)	101.07183.80	(1.57)(256.43)	99.76183.70
$\overline{1}$		Net Profit/(Loss) from continuing operationsafter tax (9-10)	312.04	(134.12)	[352.23]	294.44	(690.47)	381.03	770.86	564.55	461.59	(233.20)
$12 \overline{ }$		Other comprehensive income/(loss)	77.48	(150.71)	419.15	123.42	(318.70)	868.51	1,138.89	(235.63)	2,253.26	(401.59)
$\overline{13}$		Total Comprehensive income/(loss) (11+12)	389.52	(284.83)	66.92	417.86	(1009.17)	1249.54	1,909.75	328.92	2,714.85	(634.79)

PT I ø

S.No.	Particulars				Quarter Ended				Year ended
			Standalone			Consolidated			Standalone		Consolidated
		March 31, 2021 M							larch 31, 2020 Dec 31, 2020 March 31, 2021 March 31, 2020 Dec 31, 2020 March 31, 2021 March 31, 2021 March 31, 2021 March 31, 2020
		Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Audited	Audited	Audited	Audited
14	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	2504.05
$\frac{15}{2}$	(as per balance sheet of previous accountingReserves excluding revaluation reservesvear) (Rs. Lacs)	$\frac{A}{Z}$	Α,	Α.Ζ	Α,	N.A.	N.A.	ΛÁ.	ΝA.	ΝA.	N.A.
16	Earnings per share (EPS)(a) Basic (in Rs.)	25	(0.54)	(1.41)	18	(2.76)	S2	3.08	2.25	1.84	(0.93)
	(b) Diluted (in Rs.)	1.25	(0.54)	(1.41)	1,18	(2.76)	1.52	3.08	2.25	1.84	(0.93)
	* Not Annualised

ended March 11, 2021 PART II Selected Information for the Quarter

=E		SPIELLED INTERNATIONAL PROPERTY OF STATES
S.No.		Particulars			Standalone
				Quarter Ended			Year ended
				March 31, 2021 March 31, 2020	Dec 31, 2020		March 31, 2021 March 31, 2020
			Un-Audited	Un-Audited	Un-Audited	Audited	Audited
	⋖	PARTICULARS OF SHAREHOLDING
	$\overline{ }$	Public Shareholding
		Percentage of ShareholdingNumber of Shares	9,341,58037.31	9,341,58037.31	9,341,58037.31	9,341,58037.31	9,341,58037.31
	କ$\overline{\mathbf{c}}$	Promoters and promoter group ShareholdingPledged/Encumbered:
		No of Shares		1,288,015			1,288,015
		% age of Shares (as a % age of the total Shareholding		8.20			8.20
		Promoter group)of Promoter and
		% age of Shares (as a % age of the total Share capitalof the Company		5.14			5.14
	â	Non Encumbered:
		No of Shares	15,698,952	14,410,937	15,698,952	15,698,952	14,410,937
		% age of Shares (as a % age of the total Shareholding	100.00	91.80	100.00	100.00	91.80
		Promoter group)of Promoter and
		% age of Shares (as a % age of the total Share capital	62.69	57.55	62.69	62.69	57.55
		of the Company
					March 31, 2021Quarter ended
		INVESTOR COMPLAINTS
		Pending at the beginning of the quarter			$\equiv$
		Received during the quarter					RUBB
		Disposed off during the quarter					QOV

$\equiv$

Remaining unresolved at the end of the quarter

Modi Rubber Limited

1. Financial Results for the quarter ended March 31, 2021

(a) Net profit/(loss) from ordinary activities (after tax): Rs. 312.04 Lacs

(b) Other Comprehensive income/(loss): Rs. 77.48 Lacs

(c) Total Comprehensive income/(loss) for the quarter (after tax) : Rs. 389.52 Lacs

1. The above financial results for the quarter and year ended March 31, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on June 30th, 2021.

2. The Statutory Auditors have carried out an audit of the above results for the quarter and year ended March 31, 2021 and issued an unmodified opinion on the same.

3. In accordance with IND AS 108 - Operating Segment used to present the segment information are identified on the basis of informal report used by the Company to allocate resource to the segment and assess their performance. The Board of Directors of the Company is collectively Chief Operating Decision Maker (CODM).The Company is engaged in Renting of immovable property which in the context of Ind AS 108 "Operating Segment" is considered as the only segment. The Company's activities are restricted within India and hence na separate geographical segment disclosure is considered necessary.

4. Madi Nagar Plant, set-up on the land & shed taken on lease from Modi Export Processors Limited (MEPL) which is under liquidation, could not be tepaired/re-started due to seal put in by the Official Liquidator of MEPL. The Company has filed Special Leave Petition before the Division Bench of Allahabad High Court for taking back possession for carrying out industrial activities.

5. In compliance of directions issued by the BIFR vide its order dated February 23, 2010, the unimplemented portion of the SS-08 is under 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 Government of India vide its Gazette Notification dated November 25, 2016 and all approved schemes will now be governed by National Company Law Tribunal.

6. During the quarter ended March 31, 2021, the Company has not granted any stock options under Employee Stock Option Scheme to its employees.

7. During the quarter ended March 31, 2021 the Company has not allotted any equily Shares. Paid up Capital of the Company as on March 31, 2021 is Rs 2,504.05 lacs consisting of 25,040,532 Equity Shares of the face value of Rs. 10/- each.

8. The basic and diluted earnings per share has been calculated in accordance with the IND AS - 33 "Earnings Per Share".

9. Figures (consolidated as well as standalone) for the quarter ended March 31, 2021 represent the difference between audited figures for the twelve months ended March 31, 2021 and the published figures for the nine month ended December 31, 2020.

11 The Company's subsidiary company "Spin Investment Limited" has made investments of Rs.2510.82 lacs (hereinafter together referred as "Exposure") in "Uniglobe Mod Travels Private Limited" which is a group Company. The company'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 entity is considered temporary and accordingly there is no need to make impairment/provision against the same at this stage.

1. The company has made investments of Rs.1079.35 lacs and has given loans and advances of Rs.124.60 lacs (inclusive of interest) aggregating to Rs.1203.95 lacs (hereinafter together referred as "Exposure") in "Modi Marco Aldany Private Limited" and is joint venture of the Company. During the year, the business of the joint venture has significantly impacted due to impact of COVID-19 resulting in cash losses and shutting down of multiple operational stores. Given effect to same and in view of the prudence concept, the company has provided provision for impairment in the value of investment amounting to Rs 748.54 lacs to the extent of its share in net accumulated losses of joint venture at 31st March 2021.

13 The Company's subsidiary company "Spin Investment Limited" has made investments of Rs.285.86 lacs and has given loans and advances of Rs. 4.66 lacs (inclusive of interest) aggregating to Rs.290.52 lacs (hereinafter together referred as "Exposure" in its associate company " Vinura Beverages Private Limited" of which net worth has substantially eroded. In view of the prudence concept, the company has provided provision amounting to Rs 290.19 lacs against outstanding exposure as at 31st March 2021.

1. The Company has considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of these financial statements including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of this pandemic, the company has, at the date of approval of these financial statements, used internal and external sources of information and economic forecasts and expects that the carrying amount of these assets will be recovered.

2. 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

Whole Time Director Place: New Delhi Date: 30th June, 2021

	$\frac{1}{2}$$-201204$ (audi - .í
MODI PIIRREP I IMיייים וששששות היי	CIN: L25199UP1971PLC003392, Registered office

											(Amount in Lacs)
				Quarter Ended						Year ended
S.No.	Particulars		itandalone			Consolidated			Standalone	Consolidated
		March 31, 2021			March 31, 2020 Dec 31, 2020 March 31, 2021 March 31, 2020		Dec 31, 2020			March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
		Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Audited	Audited	Audited	Audited
	Total Income from operations (Net)	94.29	164.01	50,86	88.29	140.0	38.86	301.17	513.35	277.17	489.35
	2 Net Profit/ (Loss) for the period (before tax and exceptional items)	1,014.77	150.75	(353.80)	821.22	(387.03)	379.46	472.02	849.42	726.60	69.43
	3 Net Profit/ (Loss) for the period before tax (after exceptional items)	266.23	150.75	(353.80)	206.92	(387.03)	379.46	723.48	849.42	372.50	69.43
	Net Profit/ (Loss) for the period after tax (after exceptional items)	312.04	(134, 12)	(352.23)	294.44	(690.47)	381.03	770.86	564.55	461.59	(233.20)
	5 Total Comprehensive Income for the period (after tax)	389.52	(284.83)	56.92	417.86	(1.009.17)	1,249.54	1,909.75	328.92	2.714.85	(634.79)
	6 Equity Share Capital (Face value of share is Rs. 10/-each)	2.504.05	2,504.05	2,504.05	2,504.05	2.504.05	2.504.05	2,504.05	2,504.05	2.504.05	2.504.05
	7 Reserves (excluding Revaluation Reserves as shown in theBalance Sheet of previous year)	$\frac{1}{2}$	$\frac{4}{2}$	N.A	ΛŅ	N.A	$\frac{4}{2}$	A.N	₹.	$\frac{4}{2}$	$\frac{4}{2}$
	8 Earnings per share (EPS) (of Rs. 10/- each) (Not Annualised)
	(a) Basic and Diluted EPS (before exceptional Items) (in Rs.)	4.24	(0.54)	(1.41)	3.63	(2.76)	1.52	6.07	2.25	3.26	(0.93)
	(b) Basic and Diluted EPS (after exceptional Items) (in Rs.)	1.25	(0.54)	(1.41)	1.18	(2.76)	1.52	3.08	2.25	1.84	(0.93)

Extract of Standalone and Consolidated Un-Audited Financial Results for the quarter and year ended March 31, 2021

Notes:

1 The above is an extract of the detailed format of Quarterly/ Annual Financial Results filed Slock Exchanges under Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full f the Quarterly/ Annual Financial Results are available on the stock exchange website, www.nseindia.com, www.bseindia.com and on the Company website www.modirubberlimited.com

2 The above results have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at their respective meeting held on June 30th, 2021. The Statutory Auditors of the Company ha carried out an audit of the aforesaid results.

3 Previous quarter/ year end figures have been rearranged and / or regrouped, wherever necessary, to make them comparable with those of the current quarter/ year end.

By order of the Board

Piya ModiWhole Time Director

'n ОM

New DelhiDate: 30th June, 2021