Modi Rubber Ltd. — Interim / Quarterly Report 2021

Nov 13, 2021

Suresh Surana & Associates LLP

Suresh Surana & Associates LLP

Independent Auditor's Review Report on Review of Interim Standalone Financial Results

To, The Members of Modi Rubber Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results ("the statement") of Modi Rubber Limited ("the Company") for the quarter ended and six months ended 30" September 2021, being submitted by the company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This statement is the responsibility of the Company's Management which has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting', prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and has been approved by the Board of Directors. Our responsibility is to express a conclusion on these statements based on our review.
• 1. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provided less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatements.

FOR SURESH SURANA & ASSOCIATES LLP Chartered Accountants Firm's /Re (Ravin hy nl PARTNER WAV jx Membership No~290988 TY UDIN: 21090988AAAAYI2091 Place: Noida Date: November 13, 2021

Suresh Surana & Associates LLP

Suresh Surana & Associates LLP

B

Independent Auditor's Review Report on Review of Interim Consolidated Financial Results

To, The Board of Directors of Modi Rubber Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Modi Rubber Limited (the "Parent") and its subsidiaries (the parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income of its associates and joint ventures for the quarter and six months ended September 30, 2021 ("the Statement'), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEB! (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement is the responsibility of the Parent's Management which has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting", prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and has been approved by the Board of Directors/Committee of Board of Directors. Our responsibility is to express a conclusion on these statements based on our review.
• 1. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Suresh Surana & Associates LLP

1. The Statement includes the results of the following entities:

2. (a) Parent Modi Rubber Limited

3. (b) Subsidiary Companies
4. (i) Spin Investment (India) Limited
5. (ii) Superior Investment (India) Limited.
6. (b) Joint Ventures
7. (i) Asahi Modi Materials Private Limited
8. (ii) Gujarat Guardian Limited
9. (iii) Modi Marco Aldany Private Limited
10. (c) Associate
11. (i) Vinura Beverage Private Limited
12. 1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 , as amended, including the manner in which it is to be disclosed, or that it contains any material misstatements
13. 1. We draw attention to Note 11 to the Statement regarding fair valuation of total investments made aggregating Rs. 2,910.82 lacs (Rs. 2,510.82 as at March 31, 2021). The investments have been fair valued at Rs. 2,183.12 lacs as at 30 September 2021. In the opinion of the management, considering the on-going relaxations in the travel industry and future projections of the operations, the decline of fair value of investments, inter alia, due to erosion in the net worth of the investee entity, is considered temporary. Our conclusion is not modified in respect of this matter.
14. 1. The consolidated financial results includes the Group's share of net profit after tax of Rs. 7.95 lacs and Rs. 31.94 lacs including other comprehensive income for the quarter and six months ended September 30, 2021, as considered in the Statement, in respect of two Joint Ventures and one Associate, whose interim financial information have not been reviewed by us.

These interim financial information have not been reviewed by their respective auditors and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these Joint Ventures and Associate, is based solely on the information and explanations given to us by the Management. Our conclusion on the Statement in respect of the said matter is not modified.

FOR SURESH SURANA & ASSOCIATES LLP Chartered Accountants ee No. ⁴ t A p (Ravin PARTNER 750 W / W-100010 Place: Noida Dated: November 13, 2021

Mod! Rubber Limited Statement of Standalone and Consolidated assets and liabilities as per Regulation 33(3)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
as amended:	Standalone		Consolidated	(Amount in Rs. Lacs)
Ranttaulars	Asat September 30,2021]	As at	As at March 31,2021 September 30,2024	As at March 31, 2024
ASSETS Non-current assets Property, plant and equipment	Unaudited 2,616.69.	Audited 2,572.64	Unaudited	Audited
Capilal work-in-progress			2,616.69	2,572.64
Intangible assets Right of use assets Investment in joint ventures and associate	- 4.04 116.90	25.10 1,30 126.89	- 4.01 116.90	25,10 1.30 126.89
Financial Assets Invesiments Other financial assets	- 8,179.65 1,503.98	- 7,544.82 1,353.75	19,313.14 44,244.33 4,503.98	18,785.83 10,444.93 1,387.62
Deferred tax assets(nel) Oiher non-current assets Total non-current assets	299.54 631,26 13,249.03	240.56 638.93 12,503.99	425.83 \$32.46 35,754.44,	336.13 640.13. 34,257.57
Current assets Inventories. Financial Assets	-		=	*
Investments Trade receivables Cash and cash equivalents	4,681.70 38.19 113.80	5,210.60 79.03 97.11	6,407.84. 38.19 655.39	7,837.48 79.03 102.97
Other bank balances Loans Other financial asse!s	= 187.13 4,451.13	138.03 3,034.36	212.81 201.56 4,476.56	200.00 180.75 3,053.76
Current tax {net) Other current assets Total current assets	67.32 235,22 9,744.49	- 255.47 8,815.60	85.09 235.22 12,312.66	13.02 256.47 11,723.48
Asset held forsale	444	-	1.44	7
Total Assets I EQUITY AND LIABILITIES	22,594.93	21,319.59	48,068.51	45 931.05
Equity Equity share capital Other equity Total equity	2,504.05 17,834.56 20,338.64	2,504.05 16,223.41 18,727.46	2,504.05 42,899.94 45,403.96	2,504.05 40,580.33 43,384.38
LIABILITIES Non-current liabilities Financial liabilities
Borrowings Lease liability 'Other financial liabilities	251.60 118.56 17.04	261.51 127.23 16.61	251.60 118.56 17.04	261.57 427.23 16.64
Other non-current liabilities Total non-current liabilities	3.82 397.02	4.31 408.66	3.82 391,02	4,37 409:65
Current liabilities Financial liabilities Current maturities of long term borrowings Lease liability	419.44 47.16	30.23 14.85	49.41 17.46	30.23 14.85
Trade payabies:- Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises Other financial Nabilities	436.62 77045	- 136.62 686.30	s 137.55 774.67	" 138.68 668.26
Other current liabilities Total current liabilities	1,321.95 2,265.30	1,334.47 2,182.47	1,324.74 2,273.53	1,334.99 2,187.01

Modi Rubber Limited Statement of Standalone and Corisolidated Cash Flows as per Regulation 33(3)(f) of the SEBI (Listing Obligations and Disctosure Requirements) Regulations, 2015, as amended:
	Standalone		Consolidated	(Amount in Rs. Lacs)
	Forthe half year For the year ended ended Sep 30, 2021	March 31, 2021	For the half year ended Sep 30,2021	For the year ended March 34, 2024
Gash flows from operating activities A Profit before tax Adjustments for:	1,029.33	723.48	1,613.98	372.50
Depreciation and amortization Provision of doubtful debts and advances (Profit)/ loss on sale of property, plant and equipment	130.15 -	287.99 56.86 (1.95)	130.45	267.99 56:66 (1.96)
(Profit)/ loss on sale of invesiment Financia! assets measured at fair-value	- (4.39) (94.15)	(33.24) (162.53)	(12.22) {139.44)	(14.46) (284.14) (1.58)
Interest an security deposit at amortised cost Interest expenses interest on lease	(0.49) 4.03 8.87	(1.56) 6.59 18.51	(0.49) 0.99 8.87	0.51 18.51
Liabilities written back Interest income Dividend received	(0.00) (146.88) (1,625.79)	(40.08) 804.12 (2,003.45)	(0.00) (165.10) (51.17)	(40.06) 767.74 (72.89)
Sundry balances written off Net share-of profit in joint ventures and asseciale Unwinding of discount on financial assets at arnortized cost	42.40 : 0.427	~ - 1.68	42.40 (2,128.10) 0.43	- (4,140.13) 1.68
Provision for impairment in the value of investment Operating Profit/ (loss) before working capital changes Adjustments for:	- (656.48)	748.54 384.97	= (699.70)	354.10 284.89
Increase/(decrease) in trade payables Increase/(decrease) in other non-current financial liabilities Increase!(decrease) in other non-current liabilities	- (5.93) (0.49)	- 0.78 (0.97)	(1.13) (5.93) (0.49)	(50.89) = (0.97)
Increase/(decrease) in other current financial liabilities Increase/(decrease) in other current liabilities Decrease/(increase) in loans and advances:	104.34 (12.50) (19.53)	(67.93) (498.49) (98.81)	106.86 (12.35) (21.24)	(69.51) (503.07) (101.98)
Decrease/(increase) In other non-current assets Decrease/(increase) in trade receivables	113.86 23.41	(106.13) (22.22)	113.86 23.441	(106.13) (15.46)
Decrease/(increase) in other non current financial assets Decrease/(increase) in other current financial assets Decrease/(increase) in other current assets	(105.00) (61.61) (3.29),	2,600.57 (2,902.63) (15.28)	(108,87) (67.64) {16.10)}	2,804.44 (2,909.08) (15.28)
Net cash used in operations Direct taxes (paid) / refund (net)	(623.23) (25.43)	(726.14) 312.62	(689.33) (32.26)	(883.02) 301.04
Net cash used in operating activities (A)	(648.67)	(413,52)	(721.59)	(581.98)
Cash flows from investing activities B Dividend received Interest recelved	24.97 191.09	2,003.45 (774.32)	51.17 212.35	2,040.34 (731.88)
Purchase of property, plant and equipment & Intangibles Proceeds from sate of property, plant and equipment Proceeds from sale of short term investments	(140.66) - 847.44	(54.90) 9.90 1,498.42	(140.66) - 2,362.87	(54.90) 9:90 5/512.63°
Purchase of short term investments Net cash generated from/ (used in) investing activities (B)	(249.99) 702.85.	(2,696.14) (13.59)	(1,181.96) 1,303.77	(6;821,10) 156.01
Cash flows from financing activities C Repayment of borrowings
	(20.73)	(42.74)	{20.73)	(42.74)
Repayment of lease obligation Interest paid	~ (8.87) (4.03)	(33.11) (6.59)	(8.87); (4.03)	(33.11) (6.59)
Net cash used In financing activities (C) Net increase/(decrease) in cash and cash equivalents (A+B+C)	(33.63) 20.56	(82.44) (509.55)	(33.63) \$48.55	(82.44) (609.41)
'Cash and cash equivalents at the beginning of the period/year 'Cash and cash equivalents at the end of the perlod/year	93.24 113.80	602.79 93.24	106.84 655.39	646.25 106.84
Cash and cash equivalents Cash in hand Balances with banks	4.44	5.26	4,44	5.28

Notes:

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

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

(iii) Fixed assets include property, plant and equipment adjusted for movement of capital work-in-progress during the period.

Statement of Standalone and Consolidated Unaudited Financial Results for the Quarter and Half year ended September 30, 2021 CIN: L25199UP1971PLC003392, Registered office: Modinagar - 201204 (U. P.) Modi Rubber Limited

$(354.10)$
$(767.63)$ $\begin{array}{c} 168.91 \ (1.57) \ (256.43) \end{array}$ 1,140.13 372.50 461.59 2,714.85 $\overline{277,17}$ 63,65 267.99 276.74 $(413, 53)$ 2,253.26 413.08 (Amount in Rs. Lacs)
Year ended March 31, 2021 March 31, 2021 1,330.76 1,607.93 021.46 $\tilde{\mathbf{r}}$ Consolidated $\overline{\mathbf{a}}$ Audited $301.17$ $\begin{bmatrix} 154.77 \ (1.57) \ (200.58) \end{bmatrix}$ $(748.54)$
$723.48$ 1,138.89 1,909.75 3,120.82 413.08 62.14 267.99 1,206.76 1,472.02 723.48 770.86 Standalone 3,421.99 ,949.97 $\frac{1}{2}$ $\mathbf{r}$ $\mathbf{r}$ Audited Sep 30, 2021 Sep 30, 2020 $(260.20)$ $(693.14)$ $(41.14)$ $(734.28)$ 1,261,33 527.05 150.02 224.49 19,18 132,35 508.21 $(432.94)$ 301.27 $(734.28)$ 451.29 884.23 ï $\bar{r}$ : $\ddot{\phantom{a}}$ Consolidated $(134, 72)$ 387.05 $130.15$ 671.06 1,001.15 $(514.12)$ 1,613.98 116.18 1,632.52 28.67 82.03 405.00 $171.27$ $[514.12]$ 2,128.10 2,019.57 487.03 é į, Half Year ended 156.02 811.05 811.05 642.26 1,453,31 Sep 30, 2021 Sep 30, 2020 224.49 132.35 449,69 825.69 811.05 19.16 811.05 1,480.72 1,836.74 Ŷ. à, $\bar{t}$ $\bar{\mathbf{r}}$ Standalone 112.00 568.82 ,611.15 130.15 $(125.00)$ ,042.33 -
94.03 171.27 651.83 ,029.33 1,917.22 28.67 981.92 1,029.33 2011.25 1,029.33 ¥ i, June 30, 2021 655.05 68.03 723.08 $20.50$ 262.36 414.15 $(183.00)$ 838.05 655.05 210.65 231.15 183.00) 72.33 14.87 64.59 $\lambda$ $\overline{1}$ $\mathbf{r}$ $\alpha$ $(67.14)$ $(67.14)$ $(260.20)$ $(494.10)$ 910.02 842.88 Sep 30, 2021 Sep 30, 2020 $(233.90)$ 426.96 46.87 187.88 234.75 120.08 $1.44$ 66.77 270.36 iFR₆₅ Consolidated $\sqrt{1-t}$ $\mathbf{r}$ Un-Audited
Refer Note 10 $(134.72)$ $61.53$ 408.70 $(331.12)$ 1,290.05 958.93 116.18 77.47 319.02 1296,49 194.35 255.88 98.94 13.80 65,56 587.00 $(331.12)$ $\ddot{\phantom{a}}$ $\tilde{A}$ Quarter ended $(221.93)$ Sep 30, 2021 Sep 30, 2020 June 30, 2021
Un-Audied Un-Audied Un-Audied
Refer Note 10 $(221.93)$ $26.50$ 156,58 253.22 440.41 218.48 64.59 $(221.93)$ 183.08 $72.33$ 14.87 $(221.93)$ 05.01 $\tilde{\mathbf{r}}$ $\epsilon \ll \epsilon$ ï $\bar{r}$ $\tilde{\mathbf{r}}$ 456,00 991.11 991.11 1447.11 1390.10 247.59 991.11 1436.97 120.08 11.42 991.11 $^{46.87}$ 66.77 45.86 $\mathbf{r}$ ï $\hat{\mathbf{r}}$ $\hat{\textbf{a}}$ ï î Standalone 112.00 $(125.00)$ 13.80 65.56 1251.26 1251.26 1264.26 128.41 1392.67 67,53 1,760.64 828.17 98.94 398,61 1251.26 ï $\cdot$ X Ŷ. Change in inventories of finished goods, work-in let Profit/Loss) from continuing operations Total Comprehensive income/(loss) (10+11) Profit ((Loss) from continuing operations
before tax and share in net profit/ (loss) of Share in net profit (loss) of joint ventures Profit/(Loss) from continuing operations
before exceptional items and tax (2-3) Depreciation and amortisation expense Exceptional llems (Refer note 12 & 13) joint ventures and associates (4-5) other comprehensive income/(loss) Profit/(loss) before tax (6+7) rogress and stock-in-trade Particulars Employee benefits expense Cost of material consumed Revenue from operations Sale of products/services Other operating revenue Total expenses Other expenses and associates Tax expense
- Current tax - Deferred lax - Earlier year after tax (8-9) Finance costs Total income )ther income Expenses Income $\widehat{a}$ $\widehat{b}$ $\widehat{\sigma}$ $\widehat{\sigma}$ $\sigma$ $\widehat{\mathtt{e}}$ ៊ $\Rightarrow$ é $\overline{1}$ $\overline{2}$ PART

S.No.	Particulars				Quarter Ended					Half Year ended			Year ended
			Standalone			Consolidated			Standalone		Consolidated	Standalone	Consolidated
		Sep 30, 2021	Sep 30, 2020	June 30, 2021	Sep 30, 2021	Sep 30, 2020	June 30, 2021	Sep 30, 2021	Sep 30, 2020	Sep 30, 2021	Sep 30, 2020	March 31, 2021 March 31, 2021
		Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Audited	Audited
13	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	2504.05	2504.05
$\frac{1}{4}$	(as per balance sheet of previous accounting Reserves excluding revaluation reserves vear) (Rs. Lacs)	N.A.	N.A.	N.A.	NA.	N.A.	NA.	Δ.	NA.	N.A.	NA.	N.A.	Á.
15	Earnings per share (EPS) (a) Basic (n Rs.)	5.05 5.05	3.96	$(68000000000000000000000000000000000000$	9.90 3.90	$(0.27)$ $(0.27)$	2.62 2.62	4,16 4,16	3.24	6.52 6.52	$\frac{2.93}{2.93}$	3.08	ă
	* Not Annualised (b) Diluted (in Rs.)		3.96										84

$t$ of $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ and $t$ an Infert Sep i, $\ddot{\epsilon}$ $\cdot$ $\cdot$ $\frac{1}{2}$ Salerted Infor

S.No.	Particulars			Standalone
			Quarter Ended		Year ended
		Sep 30, 2021	Sep 30, 2020	June 30, 2021	March 31, 2021
		Un-Audiled	Un-Audiled	Un-Audiled	Audiled
ન	PARTICULARS OF SHAREHOLDING
	Percentage of Shareholding Number of Shares Public Shareholding	9,341,580 37.31	9,341,580 37.31	9,341,580 37.31	37.31 9,341,580
ଚ $\overline{c}$	Promoters and promoter group Shareholding Pledged/Encumbered:
	No of Shares		1,288,015
	% age of Shares (as a % age of the total Shareholding of Promoter and Promoter group)		820
	% age of Shares (as a % age of the total Share capital of the Company		5.14
â	Non Encumbered: No of Shares	15,698,952	14,410,937	15,698,952	15,698,952
	% age of Shares (as a % age of the total Shareholding	100.00	91.80	100.00	100.00
	% age of Shares (as a % age of the total Share capital of Promoter and Promoter group)	62.69	57.55	62.69	62.69
	of the Company
				September 30, Quarter ended 2021
	INVESTOR COMPLAINTS
	Pending at the beginning of the quarter			$\overline{\overline{z}}$

$\mathbf{r}=\hat{\mathbf{r}}$ $\overline{\Xi}$

Remaining unresolved at the end of the quarter

Disposed off during the quarter

Received during the quarter

$LPI$ ęs MGU Ł

Modi Rubber Limited

		Modi Rubber Limited
1. Financial Results for the quarter and half year ended September 30, 2021
				Amount in Rs. Lacs
		Standalone		Consolidated
Particulars	21	ended Half	21) Quarter Ended Sep 21]	Half 21
Net	26
		1,042.33	977.47	1,632.52
otal	428. 1 67	1,644.15	02	387.05

1. The above financial results for the quarter and half year ended Seplember 30, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 13th, 2021.

2. The Statulory Auditors have carried oul a limited review of the above results for the quarter end half year ended September 30, 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 aclivities are resticled within India and hence no separale geographical segment dischosure is considered necessary.

5, Modi Nagar Plant, set-up on the land & shed taken on lease from Modi Export Processors Limited (MEPL) which is under liquidation, could not be repairedire-starled 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.

1. In compliance of directions issued by the BIFR vide its order dated February 23, 2010, the unimplemented portian of the SS-98 is under Implemertation by the Company and a status report to this effect as al September 30, 2018 was also submitled by the Company with BIFR periodically on October 20, 2016. With effect from December 01, 2016, SICA repeated by Goverment of India vide its Gazette Notification dated November 25, 2016 and all approved schemes will now be govemed by National Company Law Tribunal.

2. During the quarter and half year ended September 30, 2021, the Company has not granted any stock options under Employee Slock Option Scheme to ils employees.

3. During the quarter and half year ended September 30, 2021 the Company has not allotted any equity Shares. Paid up Capital of the Company as on September 30, 2021 is Rs 2,504.05 lacs consisting of 25.040,532 Equity Shares of the face value of Rs. 10/- each.

4. The basic and diluted earnings per share has been calculated in accordance with the IND AS'- 33 "Eamings Per Share",

5. Figures {consolidated as well as standalone) for the quarter ended Seplember 30, 2021 represent the difference between reviewed figures for the six months ended Seplember 30, 2021 and the published figures for the three months ended June 30, 2021.

11, The Company's subsidiary company "Spin Investment Limited" has investments aggregating to Rs.2910.82 lacs in "Unigiobe Mod Travels Private Limited". The investments are fair valued at Rs. 2183.12 lacs as at 30th September 2021. The subsidiary company's management has made an assessment that, considering, the lang term and strategic nature of investment, fair value dectine in the value of investments, amongst other things, due to erosion in the networth of the investee enlity, is considered temporary in nature,

1. The Company has made investments of Rs.1079.35 tacs and has given loans and advances of Rs.141.25 lacs {inclusive of interest) aggregating to Rs 1220.6 lacs (hereinafier logether referred as "Exposure") in "Modi Marco Aldany Private Limited" and is joint venture of the Compariy, During the previous year, the business of the joint venture has significantly impacted due to impact of COVID-19 resulting In cash losses and shutting down of mulliple operational stores, Giving effect to same and in view of the phidence concept; the Company has Impaired Its investments by Rs 748.54 lacs which represents Company's share in net accumulated josses of joint venture at 31st March 2021, The Company is assessing operations of the stated joint venture and believes no material impact of same on current quarter and half year end financial results.

13, The Company's subsidiary company "Spin Investment Limited" has made investmerits of Rs.295.86 lacs and has given loans and advances of Rs. 4.84 tacs:{inclusive of interest) aggregating to Rs.290.70 lacs (hereinafter together referred as "Exposure" in its associate company" Vinura Beverages Private Limited" of which net worth has substaritially eroded. In view of the prudence concept, the company has impaired investment by Rs 290,19 lacs against outstanding éxposure during the prior periods.

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

15, The Company has classified a piece of land as "Asset Held For Sale" during the quarter ended September 30, 2021 pursuant to the approval of its intended sale by the Board of Directors in their meeting held on August 13, 2021.

1. For betier understanding of the Company's financial performance, line items have been added to show revenue from sale of products/services and other operaling revenue separalely under Revenue from operations. This js in line with guidance avaliable in Schedule IIf to the Companies Act, 2013:

2. Figures for the previous periods have been regroupedirectassified {0 conform Lo the classification of the current periods.

For Modi Rubber Limited

WholsAime Director

Place: New Delhi Date: 13th November, 2021

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

Extract of Standalone and Consolidated Un-Audited Financial Results for the quarter and Half year ended September 30, 2021

													(Amount in Lacs)
				Quarter Endec						Half Year Ended		Year ended
S.No.	Particulars		andalone			Consolidated			Standalone	Consolidated		Standalone	Consolidated
		Sep 30, 2021	Sep 30, 2020	June 30, 2021	Sep 30, 2021	Sep 30, 2020	June 30, 2021	Sep 30, 2021	Sep 30, 2020	Sep 30, 2021	Sep 30, 2020	March 31, 2021 March 31, 2021
		Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited
											Un-Audited	Audited	Audited
	1 Total Income from operations (Net)	67.53	46.87	26.50	61.53	46.87	20.50	94.03	156.02	82.03	150.02	301.17	277.17
	2 Net Profit/ (Loss) for the period (before tax and exceptional tems)	1,251.26	991.11	(221.93)	958.93	193.06	655.05	029.33	811.05	.613.98	474.08	472.02	726 60
	3 Net Profit/ (Loss) for the period before tax (after exceptional items)	1,251.26	991.11	(221.93)	958.93	(67.14)	655.05	029.33	811.05	613.98	734.28
	4 Net Profit/ (Loss) for the period after tax (after exceptional items)	1,264.26	991.11	(221.93)	977.47	(67.14)	655.05	.042.33	811.05	,632.52		723.48	37250
	5 Total Comprehensive Income for the period (after tax)	1,392.67	447.11	218.48	295.49						734.28	770,86	461.59
						342.88	723.08	1.611.15	453.31	2.019.57	527.05	909.75	2,714.85
	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	2.504.05	2,504 05
	7 Reserves (excluding Revaluation Reserves as shown in the Balance Sheet of previous year)	$\frac{4}{2}$	A.A	A Z	N.A	$\frac{8}{2}$	$\frac{1}{2}$	Ϋ́Υ	₹,	Ş
	8 Earnings per share (EPS) (of Rs. 10/- each) (Not Annualised)										$\frac{1}{2}$	A.A	N.A
	(a) Basic and Diluted EPS (before exceptional Items) (in Rs.)	5.05	3.96	(0.89)	3.90	0.77	2.62	4.16	3.24	6.52	(1.89)	6.07	3.26
	(b) Basic and Diluted EPS (after exceptional ltems) (in Rs.)	5.05	3.96	(0.89)	3,90	(0.27)	2.62	4.16	3.24	6.52	(2.93)	3.08	84
Notes

1 The above is an extract of the detailed formal Chandal Regular Results filed Strack Exchanges under Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full formal of the Q

are available on the stock exchange websile, www.nseridia.com, www.bseindia.com and on the Company website www.modicubberlimited.com

2 The above results have been reviewed by the Audt Committee and subsequently approved by the Board of Direction at the Company at their respective mode on November 13th, 2021. The Statutory Auditors of the Company have ca

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

New Dalhi
Date: 13th November, 2021