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MOIL Limited Annual Report 2020

Jul 7, 2020

61480_rns_2020-07-07_8f1ffd12-ffad-4b06-8d37-8d0eb1b5feb2.pdf

Annual Report

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1\IOIL Lli\IITFD (i\ ( iO\ crnmcnt ol'lndiu 1-: ntnpri sc) Rcgti. 01'1'.: MOlL 13hm' <Ill . I;\ l(;ttol Ruad. ( ,['1 ~ I ill () I ; \ c' lh ii C: 1\ \ 1\ ll lll il I il l' 111. I . M <ill II) COillpli<llll'CfL_I Il \l il lliC 111. I' ll o-1 " ' XO(l l X) . I"' () ' I ) ' ''! I (dJ I , CIN I <)<)<)<) <) i\ II II')(, ' <,( II (II ) ;<IS

CS/NSE/2020-21 I l -"l-

Date 06.07.2020

To. The CiM (l.isting). National Stock L:changc or India Ltd. !·::change Pl<:v.a. Plot No.C-1. G Block. Bandra Kurla Complc:. Bandra (Fast). Mumbai --f()()())J

Sub: Clarification on Financial Results- l\tlar-2020

This has re !Crcncc to your c-n1.ai I dated 06.07.2020 regarding above mentioned subject.

In this regard. it is to submit that the cash flo\ statement Jor Standalone statement and consolidated statement \·as inad'ertently left at the time or submitting the linancial results. Vi c arc re-submitting the audited l'inancial results ror the quarter and year ended on J I . 0 J . :2 0 2 0 a I o n g '' i t h t h e cas h Jl o vv· state m c n t.

It is requested to please take the same on record.

Thanking you.

y 0 u rs l~l it h rull y.

Com pan: Scerctar: & Com pi iance Ol'ficcr

CIN : L99999ME1962GOI012398

Statement of Standalone audited financial results for the quarter and year ended 31st March, 2020

({in lakhs)( Prepat·ed in Compliance with Indian Accounting Standards (IND AS) )
For quarter endedParticularsSr. For the For the
No. financial financial
year ended year ended
31-03-2020 31-12-2019 31-03-2019 31-03-2020 31-03-2019
Audited Unaudited Audited Audited Audited
1 (a) Revenue from operations 24865.84 25622.26 43659.02 103806.51 144066.60
(b) Other incomeTotal income 3429.89 4486.01 5091.46 18111.40 19081.07
2 Expenses 28295.73 30108.27 48750.48 121917.91 163147.67
(a) Cost of materials consumed 1099.28 950.79 1097.26 3841.64 3839.50
(b) Purchase of stock-in-trade 0.00 0.00 0.00 0.00 0.00
(c) Changes in inventories of finished goods, stock in trade and work-in-process -2036.75 -986.38 2979.68 -6833.29 -85.92
(d) Employee benefits expense 15257.47 10610.16 13145.46 46260.69 42826.15
(e) Finance costs 0.00 0.00 0.00 0.00 0.00
(f) Depreciation and amortisation expense 1907.44 2577.82 1953.70 9616.15 6682.47
(g) Other expenses 9906.37 9523.34 10629.50 34983.57 37910.35
Total expenses 26133.81 22675.73 29805.60 87868.76 91172.55
3 Profit/ (loss) before exceptional items and tax[1- 2] 2161.92 7432.54 18944.88 34049.15 71975.12
4 Exceptional items 0.00 0.00 0.00 0.00 0.00
5 Profit/ (loss) before tax[3- 41 2161.92 7432.54 18944.88 34049.15 71975.12
6 Tax expense
(a) Current tax 456.69 2039.55 6345.20 9033.74 26608.88
(b) Deferred tax 357.87 -152.69 -909.09 193.39 -2022.58
Total tax expense 814.56 1886.86 5436.11 9227.13 24586.30
7 Net profit/ (loss) for the period from continuing operation[5-6] 1347.36 5545.68 13508.77 24822.02 47388.82
8 Extraordinary items (Net of tax expense) 0.00 0.00 0.00 0.00 0.00
9 Net profit/ (loss) for the period[7- 81 1347.36 5545.68 13508.77 24822.02 47388.82
10 Other comprehensive income
A (i) Items that will not be reclassified to profit or loss 2990.51 -755.99 -276.75 718.07 -3004.06
(ii) Income tax relating to items that will not be reclassified to profit or loss -754.55 190.05 94.66 -184.39 1047.69
8 (i) Items that will be reclassified to profit or loss 0.00 0.00 0.00 0.00 0.00
(ii) Income tax relating to items that will be reclassified to profit or loss 0.00 0.00 0.00 0.00 0.00
2235.96 -565.94 -182.09 533.68 -1956.37
11 Total Comprehensive Income for the period after taxes[9 + 10] 3583.32 4979.74 13326.68 25355.70 45432.45
12 Paid-up equity share capital (Face value of share~ 10 each) 23732.79 25760.89 25760.89 23732.79 25760.89
13 Other equity 252605.64 282510.45
14 Earnings per share from continuing operation
(a) Basic(~ I 0 each) 0.56 2.15 5.24 9.80 18.40
(b) Diluted (~ 10 each) 0.56 2.15 5.24 9.80 18.40
EPS as on 31.03.2020 is calculated on weighted average paid-up share capital (due to buy-back of shareson 16.01.2020).

Select information

Sr Particulars As at
No 31-03-2020 31-03-2019
A PARTICULARS OF SHAREHOLDING1 Public shareholding(a) Number of shares(b) Percentage of shareholding 8459798035.65°/o 8838222134.31 o/o
2 Promoters and promoter group shareholding(a) Pledged/encumbered:Number of shares Nil Nil
Percentage of shares (as a o/o of total shareholdingof promoter and promoter group) N.A. N.A.
Percentage of shares (as a o/o of total share capitalof the company) N.A. N.A.
(b) Non-encumbered :Number of shares 152729899 169226667
Percentage of shares (as a o/o of total share holdingof promoter and promoter group) 100.00% 100.00%
/o oftotal share capitalPercentage of shares (as a 0of the company) 64.35°/o 65.69°/o

Statement of assets and liabilities

(~in Iakhs)
Sr Particulars As at As at
31-03-2020 31-03-2019
No
Audited Audited
1 ASSETS
Non-current assets
(a) Property, Plant and Equipment 58019.71 41968.68
(b) Capital work-in-progress 24016.20 29539.94
(c) Investment Property 0.00 0.00
713.87 1067.09
(d) Other Intangible assets
(e) Intangible assets under development 187.23 146.66
(f) Financial Assets
(i) Investments 23.29 22.29
(ii) Trade receivables 0.00 0.00
(iii) Loans 106.58 114.70
0.00 0.00
(iv) Others
(g) Deferred tax assets (Net) 1599.63 1793.02
(h) Other non-current assets 10329.23 6523.35
Sub-total - Non-current assets 94995.74 81175.73
2 Current assets
(a) Inventories 17792.90 10262.27
(b) Financial Assets
Investments(i) 702.17 11451.93
(ii) Trade receivables 13403.86 13184.55
10499.63 2126.13
(iii) Cash and cash equivalents
(iv) Bank balances other than (iii) above 172315.75 224066.34
(v) Loans 455.45 473.64
(vi) Others 0.00 0.00
(c) Current tax assets (Net) 4069.93 1398.94
(d) Other current assets 15962.28 16760.88
Sub-total - Current assets 235201.97 279724.68
TOTAL- ASSETS (1+2) 330197.71 360900.41
EQUITY AND LIABILITIES
1 Equity
(a) Equity Share capital 23732.79 25760.89
(b) Other Equity 252605.64 282510.45
Sub-total- Equity 276338.43 308271.34
Liabilities
2 Non-current liabilities
(a) Financial Liabilities
(i)Borrowings 0.00 0.00
(ii) Trade payables 0.00 0.00
(iii) Other financial liabilities (other than those specified) 0.00 0.00
(b) Provisions 1227.82 1145.68
(c) Deferred tax liabilities (Net) 0.00 0.00
(d) Other non-current liabilities 701.30 475.13
Sub-total- Non-current liabilities 1929.12 1620.81
3 Current liabilities
(a) Financial Liabilities
(i)Borrowings 0.00 0.00
(ii) Trade payables 4094.57 4385.72
(iii) Other financial liabilities (other than those specified ) 14020.87 11181.28
(b) Other current liabilities 25598.03 24649.61
(c) Provisions 8216.69 10791.65
(d) Current Tax Liabilities (Net) 0.00 0.00
Sub-total- Current liabilities 51930.16 51008.26
TOTAL- EQUITY AND LIABILITIES (1+2+3) 330197.71 360900.41

Segment-wise revenue, results for the quarter and year ended 31st March, 2020 and assets and liabilities as on that date.

(~in lakhs)
Sr. Particulars For quarter ended For the For the
No. financial financial
year ended year ended
31-03-2020 31-12-2019 31-03-2019 31-03-2020 31-03-2019
Audited Unaudited Audited Audited Audited
1 Segment revenue
(a) Mining products 23192.82 25146.51 40117.38 99143.14 134115.58
(b) Manufactued products 2198.26 892.08 3976.06 6094.57 11119.77
(c) Power Sub-total 428.29 329.0526367.64 142.1544235.59 1919.19 1367.63
(-) Inter-segment revenue 25819.37953.53 745.38 576.57 107156.903350.39 146602.982536.38
Gross sales/income from operations 24865.84 25622.26 43659.02 103806.51 144066.60
2 Segment results [Profit/(-)loss before tax and interest]
(a) Mining products -958.04 2753.44 13083.99 14712.90 49395.57
(b) Manufactued products -541.73 59.10 714.29 64.94 2485.63
(c) Power 231.80 133.99 55.14 1159.91 1012.85
Sub-total -1267.97 2946.53 13853.42 15937.75 52894.05
( +) Other unallocable income (net of unallocable expenditure) 3429.89 4486.01 5091.46 18111.40 19081.07
Profit from ordinary activities before exceptional items and tax 2161.92 7432.54 18944.88 34049.15 71975.12
3 Segment assets
(a) Mining products 105475.97 92836.72 86840.05 105475.97 86840.05
(b) Manufactued products 5860.50 6303.77 3802.81 5860.50 3802.81
(c) Power 8778.76 8923.18 6315.38 8778.76 6315.38
(d) Unallocated 210082.48 260648.27 263942.17 210082.48 263942.17
Total 330197.71 368711.94 360900.41 330197.71 360900.41
4 Segment liabilities
(a) Mining products 31068.12 24843.86 28066.14 31068.12 28066.14
(b) Manufactued products 1581.56 1177.57 506.77 1581.56 506.77
(c) Power 1321.30 1280.97 1243.73 1321.30 1243.73
(d) Unallocated 19888.30 20682.66 22812.43 19888.30 22812.43
Total 53859.28 47985.06 52629.07 53859.28 52629.07
Notes:
1 The above results, reviewed by the Audit Committee, have been approved by the Board of Directors in its meeting held on 18th June, 2020 and have been reviewed by statutory
auditors of the company.
2 This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lnd AS) prescribed under Section 133 of the Companies Act, 2013
and other recognised accounting practices and policies to the extent applicable.
3 Information about investor complaints for the quarter: Opening- 1, received during the quarter -4, resolved during the quarter -5 and pending as at 31.03.2020- Nil.
4 The Board has approved final dividend of~ 3.00 per equity share for the financial year 2019-20.
5 Reduction in turnover and profit during the current reporting period is mainly due to changes in product mix containing higher proportion of medium and low grade ores
available for sale as compared with corresponding quarter and fall in prices of manganese ore in international market, resulting in price correction by MOIL. The results are affected
due to stopppage of operations at mines/plants consequent to lock down imposed after outbreak of corona virus.
6 Pursuant to Taxation Laws (Amendment) Ordinance 2019 dated 20 09 2019, the Company has exercised the option permitted under section 115BAA of the Income Tax Act,
1961 to compute income tax at the revised rate (i.e., 25 .168% including surcharge and cess) from the current financial year. The tax expense for the quarter and year ended 31st
March, 2020 is after considering the impact of the revised tax rate.
7 Previous period's figures have been regrouped/reclassified, wherever necessary, to make them comparable. The figures for the quarter ended 31st March,2020 are balancing figuresbetween the audited figures of the full year and the reviewed figures up to the third quarter of the financial year.
For MOIL Limited, 4 ~ • or M/s Demble Ramani & Co.,
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M.P. Chaudhari / A Ashok Ramani
0(/J))Chairman-cum-Managing DirectorDIN : 05339308 Sci /!r;t{l\tt. _,.,>' Partner
Membership Number: 030537

Place: Nagpur 31'~ Date : 18thJune,2020 .';';-;,:.-:~

MOIL LIMITED 4 STANDALONE STATEMENT OF CASH FLOWS

(~in lakhs)
Pa rticu Ia rs For the year ended For the year ended
31st March, 2020 31st March ,2019
A Cash flow from operating activities
Net profit before tax and dividend 34049.15 71975.12
Adjustment for-
(a) Interest on fixed deposits -15463.74 -16513.38
(b) Dividend on debt fund -0 04 -0.07
(c) Depreciation and amortisation 9616.15 6682.47
(d) Exceptional items 0 00 0 00
(e) Deductions from plant, property and equipments 156.11 51.49
Ope•·ating profit hefore changes in working capital -5691.5228357.63 -9779.4962195.63
Adjustments for-
(a) Inventories -7530.63 -533.90
(b) Trade receivables -219.31 5817.12
(c) Current assets -2852.18 -3137.73
(d) Other non-current assets -3805.88 -1727.84
(e) Loans and advances 26.31 27. 13
(f) Other comprehens1 ve income 533.68 -1956.37
(g) Liabilities and provisions 1230.21 8725. I 0
-12617.80 7213.51
Cash generated from operations 15739.83 69409.14
Income tax paid (net) -9033.74 -26608.88
Income tax paid for earlier years -178.16 0.00
Net cash from operating activities 6527.93 42800.26
B Cash flow from investing activities
(a) Interest on fixed deposits 15463.74 16513.38
(b) Dividend on debt fund 0.04 0.07
(c) Purchase or plant, property and equipments and intangible assets -19986.90 -20829.99
(d) Investment in term deposits with more than three months 51834.79 -12371.47
(e) Investment in joint ventures -1.00 -1.00
(I) Current investment in liquid mutual fund 10749.76 -9122.06
Net cash used in investing activities 58060.43 -25811.07
(' Cash flow from financing activities
(a) Dividend (including dividend distribution tax) -17900.18 -17080.87
(b) Dividend accounts pending encashment of warrants -26.36 6.57
(c) Investment in term deposits towards LCs and BGs -57.84 -206 33
(d) Buy-back of shares -30827.13 0 00
(e) Tax and expenses on buy-back of shares -7403.35 0.00
Net cash used in financing activities -56214.86 -17280.63
D Net increase/(-) decrease in cash and cash equivalents 8373.50 -291.44
E Opening cash and cash equivalents 2126.13 2417.57
Closing cash and cash equivalents I 0499.63 2126.13
Net increase/(-) decrease in cash and cash equivalents 8373.50 -291.44
The statement of cash flows is prepared using the indirect method, as given in lnd AS 7.
Fo•· and on behalf of the Board of Directors
~~· g\
) ~~
Mukund P.Chaudhar; t
DIN: 05339308 Cha;rman-cum-Manag;ng mrector~ NAGPUR IY' 1~ 0/

~~ -·~ ·

Place: Nagpur Date: 18th june,2020

CIN: L99999ME1962GOI012398

Statement of Consolidated unaudited financial results for the quarter and year ended 31st March, 2020

( Prepared in Compliance with Indian Accounting Standards (!NO AS) )

('{in lakhs)( Prepared in Compliance with Indian Accounting Standards (!NO AS) )
Sr. Particulars For quarter ended For the For the
No. financial financial
year ended year ended
31-03-2020 31-12-2019 31-03-2019 31-03-2020 31-03-2019
Audited Unaudited Audited Audited Audited
1 (a) Revenue from operations 24865.84 25622.26 43659.02 103806.51 144066.60
(b) Other income 3429.89 4486.01 5088.30 18111.40 19081.07
Total income 28295.73 30108.27 48747.32 121917.91 163147.67
2 Expenses
(a) Cost of materials consumed 1099.28 950.79 1097.26 3841.64 3839.50
(b) Purchase of stock-in-trade 0.00 0.00 0.00 0.00 0.00
(c) Changes in inventories of finished goods, stock in trade and work-in-process -2036.75 -986.38 2979.68 -6833.29 -85.92
(d) Employee benefits expense 15257.47 10610.16 13145.46 46260.69 42826.15
(e) Finance costs 0.00 0.00 0.00 0.00 0.00
(f) Depreciation and amortisation expense 1907.44 2577.82 1953.70 9616.15 6682.47
(g) Other expenses 9906.37 9523.34 10172.16 34983.57 37453.01
Total expenses 26133.81 22675.73 29348.26 87868.76 90715.21
3 Profit/ (loss) before exceptional items and tax[1- 2] 2161.92 7432.54 19399.07 34049.15 72432.47
4 Exceptional items 0.00 0.00 0.00 0.00 0.00
5 Profit/ (loss) before tax[3- 4] 2161.92 7432.54 19399.07 34049.15 72432.47
6 Tax expense
(a) Current tax 456.69 2039.55 6345.20 9033.74 26608.88
(b) Deferred tax 357.87 -152.69 -909.09 193.39 -2022.58
Total tax expense 814.56 1886.86 5436.11 9227.13 24586.30
7 Net profit/ (loss) for the period from continuing operation[5-6] 1347.36 5545.68 13962.96 24822.02 47846.17
8 Extraordinary items (Net of tax expense) 0.00 0.00 0.00 0.00 0.00
9 Net profit/ (loss) for the period[7- 8] 1347.36 5545.68 13962.96 24822.02 47846.17
10 Other comprehensive income
A (i) Items that will not be reclassified to profit or loss 2990.51 -755.99 -276.75 718.07 -3004.06
(ii) Income tax relating to items that will not be reclassified to profit or loss
8 (i) Items that will be reclassified to profit or loss -754.55 190.05 94.69 -184.39 1047.69
(ii) Income tax relating to items that will be reclassified to profit or loss 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
2235.96 -565.94 -182.06 533.68 -1956.37
11 Total Comprehensive Income for the period after taxes[9 + 10 3583.32 4979.74 13780.90 25355.70 45889.80
12 Paid-up equity share capital (Face value of share'{ 10 each) 23732.79 25760.89 25760.89 23732.79 25760.89
13 Other equity 252605.65 282510.47
14 Earnings per share from continuing operation
(a) Basic ('{ I 0 each ) 0.56 2.15 5.42 9.80 18.57
(b) Diluted ('{ 10 each) 0.56 2.15 5.42 9.80 18.57
EPS as on 31.03.2020 is calculated on weighted average paid-up share capital (due to buy-back of shares on16.01.2020).

Select information

Sr Particulars As at
No 31-03-2020 31-03-2019
A PARTICULARS OF SHAREHOLDING1 Public shareholding(a) Number of shares(b) Percentage of shareholding2 Promoters and promoter group shareholding(a) Pledged/encumbered: 8459798035.65°/o 8838222134.31 o/o
Number of shares Nil Nil
Percentage of shares (as a 0/o of total shareholdingof promoter and promoter group) N.A. N.A.
Percentage of shares (as a 0/o of total share capitalof the company) N.A. N.A.
(b) Non-encumbered:Number of shares 152729899 169226667
Percentage of shares (as a 0/o of total shareholdingof promoter and promoter group) 100.00°/o 100.00o/o
Percentage of shares (as a o/o of total share capitalof the company) 64.35% 65.69o/o

Consolidated Statement of assets and liabilities

(~in lakhs)
Sr Particulars As at As at
No 31-03-2020 31-03-2019
Audited Audited
1 ASSETS
Non-current assets
(a) Property, Plant and Equipment 58019.71 41968.68
(b) Capital work-in-progress 24016.20 29539.94
(c) Investment Property 0.00 0.00
(d) Other Intangible assets 713.87 1067.09
(e) Intangible assets under development 187.23 146.66
(f) Investments accounted for using equity method 7.29 7.02
(g) Financial Assets
(i) Investments 1.29 1.29
(ii) Trade receivables 0.00 0.00
106.58 114.70
(iii) Loans 0.00 0.00
(iv) Others
(h) Deferred tax assets (Net) 1599.63 1793.02
(i) Other non-current assets 9929.23 6123.35
Sub-total - Non-current assets 94581.03 80761.75
2 Current assets
(a) Inventories 17792.90 10262.27
(b) Financial Assets
(i)Investments 702.17 11451.93
13403.86 13184.55
(ii) Trade receivables 10499.63 2126.13
(iii) Cash and cash equivalents 172315.75 224066.34
(iv) Bank balances other than (iii) above
(v) Loans 455.45 473.64
(vi) Others 0.00 0.00
(c) Current tax assets (Net) 4069.93 1398.94
(d) Other current assets 15962.28 16760.87
Sub-total - Current assets 235201.97 279724.67
TOTAL- ASSETS (1+2) 329783.00 360486.42
EQUITY AND LIABILITIES
1 Equity
23732.79 25760.89
(a) Equity Share capital
(b) Other Equity 252605.65 282510.47
Sub-total - Equity 276338.44 308271.36
Liabilities
2 Non-current liabilities
(a) Financial Liabilities
(i)Borrowings 0.00 0.00
(ii) Trade payables 0.00 0.00
(iii) Other financial liabilities (other than those specified) 0.00 0.00
(b) Provisions 1227.82 1145.68
(c) Deferred tax liabilities (Net) 0.00 0.00
(d) Other non-current liabilities 701.30 475.13
Sub-total - Non-current liabilities 1929.12 1620.81
3 Current liabilities
(a) Financial Liabilities
(i)Borrowings 0.00 0.00
(ii) Trade payables 4094.57 4385.72
(iii) Other financial liabilities (other than those specified) 14020.87 11181.27
25598.03 24649.59
(b) Other current liabilities 10377.67
(c) Provisions 7801.97
(d) Current Tax Liabilities (Net) 0.00 0.00
Sub-total- Current liabilities 51515.44 50594.25
TOTAL- EQUITY AND LIABILITIES (1+2+3) 329783.00 360486.42

Consolidated Segment-wise revenue, results for the quarter and year ended 31st March, 2020 and assets and liabilities as on that date.

(~in lakhs)
Sr. For quarter endedParticularsFor the For the
No. financial financial
year ended year ended
31-03-2020 31-12-2019 31-03-2019 31-03-2020 31-03-2019
Audited Unaudited Audited Audited Audited
1 Segment revenue
(a) Mining products 23192.82 25146.51 40117.38 99143.14 134115.58
(b) Manufactued products 2198.26 892.08 3976.06 6094.57 11119.77
(c) Power 428.29 329.05 142.15 1919.19 1367.63
Sub-total 25819.37 26367.64 44235.59 107156.90 146602.98
(-) Inter-segment revenue 953.53 745.38 576.57 3350.39 2536.38
Gross sales/income from operations 24865.84 25622.26 43659.02 103806.51 144066.60
2 Segment results [Profit/(-)loss before tax and interest]
(a) Mining products -958.04 2753.44 13541.34 14712.90 49852.92
(b) Manufactued products -541.73 59.10 714.29 64.94 2485.63
(c) Power 231.79 133.99 55.14 1159.90 1012.85
Sub-total -1267.98 2946.53 14310.77 15937.74 53351.40
(+) Other unallocable income (net of unallocable expenditure) 3429.89 4486.01 5088.30 18111.40 19081.07
Profit from ordinary activities before exceptional items and tax 2161.91 7432.54 19399.07 34049.14 72432.470
3 Segment assets
(a) Mining products 105475.97 92836.72 86840.05 105475.97 86840.05
(b) Manufactued products 5860.50 6303.77 3802.81 5860.50 3802.81
(c) Power 8778.76 8923.18 6315.38 8778.76 6315.38
(d) Unallocated 209667.77 260233.90 263528.18 209667.77 263528.18
Total 329783.00 368297.57 360486.42 329783.00 360486.42
4 Segment liabilities
(a) Mining products 31068.12 24843.86 28066.14 31068.12 28066.14
(b) Manufactued products 1581.56 1177.57 506.77 1581.56 506.77
(c) Power 1321.30 1280.97 1243.73 1321.30 1243.73
(d) Unallocated 19473.58 20268.27 22398.42 19473.58 22398.42
Total 53444.56 47570.67 52215.06 53444.56 52215.06
Notes:
1 The above results, reviewed by the Audit Committee, have been approved by the Board of Directors in its meeting held on 18th June, 2020 and have been reviewed by statutoryauditors of the company.
2 This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lnd AS) prescribed under Section 133 of the Companies Act,
2013 and other recognised accounting practices and policies to the extent applicable.
3 Information about investor complaints for the quarter: Opening- 1, received during the quarter -4, resolved during the quarter -5 and pending as at 31.03.2020 -Nil.
4 The Board has approved an interim dividend of ~ 3 per equity share for the financial year 2019-20.
5 Reduction in turnover and profit during the current reporting period is mainly due to changes in product mix containing higher proportion of medium and low grade ores
available for sale as compared with corresponding quarter and fall in prices of manganese ore in international market, resulting in price correction by MOIL. The results are
affected due to stopppage of operations at mines/plants consequent to lock down imposed after outbreak of corona virus.
6 Pursuant to Taxation Laws (Amendment) Ordinance 2019 dated 20.09.2019, the Company has exercised the option permitted under section 115BAA of the Income Tax Act,
1961 to compute income tax at the revised rate (i.e., 25.168% including surcharge and cess) from the current financial year. The tax expense for the quarter and year ended 31st
March, 2020 is after considering the impact of the revised tax rate.
7 Previous period's figures have been regrouped/reclassified, wherever necessary, to make them comparable.The figures for the quarter ended 31st March,2020 are balancing
figures between the audited figures of the full year and the reviewed figures up to the third quarter of the financial year .
For MOIL Limited, • - For M/s Demble Ramani & Co.,
.{'/.: ·~.:. ~ ~~~- Ch rtered Accountants
~ ' ~l,t{' ~ Fi fn's Registration Number: I 259 W
I."""l'~ ••··"f>\ ~ II fl
(ZJMo, ~ t" II~( '-;,l .J){ -
~ (} i!':j ~
M.P. Chaudhari.$} 1 '·'t: '/ · ~~~ "tr.""· ~,,. 'V'fJ ./,. .. •/ CJ Asho Ram aniPartner
Chairman-cum-Managing DirectorDIN : 05339308··;·. : · ~ .4cto'--'-"·~l/' .Jff"'/ Membership Number: 030537

--

Place : Nagpur Date : 18th June, 2020

MOIL LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS

ParticularsAs atAs at31st March,202031st March,2019A Cash flow from operating activitiesNet profit before tax and dividend34049.15Adjustment for-(a) Interest on fixed deposits-15463.74-16513.38(b) Dividend on debt fund-0.04-0.07(c) Depreciation and amor1isation9616.156682.47(d) Exceptional items0.000.00(e) Share of(-) profit/loss in investments accounted for using equity method-4.7880.41(f) Deductions fi·om plant, property and equipments156.1151.49-5696.30-9699 09Operating profit before changes in working capital28352.8562733.38Adjustments for-(a) Inventories-7530.63-533.90(b) Trade receivables-219.315817.12(c) Current assets-2852.20-3137.72(d) Other non-current assets-1727.84-3805.88(e) Loans & advances26.3127.13(f) Other comprehensive income533.68-1956.37(g) Liabilities and provisions1235.018187.35-12613.02Cash generated fi·om operations15739.83Income tax paid (net)-9033.74Income tax paid for earlier years-178.16Net cash from operating activities6527.93R Cash flow from investing al·tivities(a) Interest on fixed deposits15463.7416513.38(b) Dividend on debt fund0.040.07(c) Purchase of plant, property & equipmcnts and intangible assets-20830.00-19986.90(d) Investment in term deposits with more than three months51834.79-12371.47(e) Investment injoint ventures-1.00-1 00(!) Current investment in liquid mutual fund10749.76-9122.06Net cash used in investing activities58060.43C Cash flow f.-om financing activities(a) Dividend (including dividend distribution tax)-17900.18-17080.87(b) Dividend accounts pending encashment of warrants6.57-26.36(c) Investment in term deposits towards LCs & BGs-57.84-206.33(d) Buy-back of shares-30827.130 00(e) Tax & expenses on buy-back of shares-7403.350.00Net cash used in financing activities-56214.86-17280.630 Net increase/(-) decrease in cash and cash equivalents8373.50-291.44E Opening cash and cash equivalents2126.13Closing cash and cash equivalentsI 0499.63Net increase/(-) decrease in cash and cash equivalents8373.50The statement of cash flows is prepared using the indirect method, as given in lnd AS 7.For and on behalf of the Board of Directors (~ in lakhs)
72432.47
6675.77
69409.15
-26608.88
42800.27
-25811.08
2417.57
2126.13
-291.44 

**it'** <sup>~</sup>/' ..:;;;:;;...

!'lace : Nagpur Date: 18th june,2020

![](_page_11_Picture_0.jpeg)

Auditors' Report on Annual Standalone Financial Results of MOIL Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

# TO THE BOARD OF DIRECTORS OF MOIL LIMITED

1. We have audited the accompanying annual Standalone Financial Results of MOIL Limited ("the Company") for the year ended 31st 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 read with SEBI Circular no. CIR/CFD/FAC/62/2016 dated 5th July, 20 16. These Financial Results have been prepared on the basis of the annual audited financial statements and reviewed quarterly financial results up to the end of third quarter which are the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to express an opinion on these Financial Results, based on our audit of such Financial Statements, which have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) specified under Section 133 of the Companies Act, 2013 ("the Act") read with relevan~?<jS m~t:there under and other accounting

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principles generally accepted in India and in compliance with · requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

- 2. We conducted our audit in accordance with the auditing standards issued by the Institute of Chartered Accountants of India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Financial Results are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts disclosed in the Financial Results. An audit also includes assessing the accounting principles used and significant estimates made by the management. We believe that our audit provides a reasonable basis for our opinion.
- 3. In our opinion and to the best of our information and according to the explanations given to us, these quarterly fi~ancial results as well as the year to date results:
  - i. are presented in accordance with the requirements of the Regulation read with the Circular, in this regard; and
  - ii. give a true and fair view of the net profit, other comprehensive income and other financial information of the Company for the

![](_page_12_Picture_7.jpeg)

4. The statement includes the results for the quarter ended 31st March, 2020 (considered audited) being the derived figures between the audited figures in respect of the current full financial year ended 31st March, 2020 and the published year-to-date figures up to 31st December, 2019, being the date of the end of the 3rd quarter of the current financial year which were reviewed by us.

For **Demble Ramani and Company**  Chartered Accountants

102259W)

Partner (Membership No. 030537)

**Place of Signature :- N agpur. Date of Report :- 18th June 2020** 

**UDIN-20030537AAAAAL7120** 

![](_page_14_Picture_0.jpeg)

**Auditors' Report on Annual Consolidated Financial Results of MOIL Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015** 

## **TO THE BOARD OF DIRECTORS OF MOIL LIMITED**

1. We have audited the accompanying annual Consolidated Financial Results of MOIL Limited ("the Company") for the year ended 31st 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 read with SEBI Circular no. CIR/CFD/FAC/62/2016 dated 5th July, 20 16. These Financial Results have been prepared on the basis of the annual audited financial statements and reviewed quarterly financial results up to the end of third quarter which are the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to express an opinion on these Financial Results, based on our audit of such Financial Statements, which have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) specified under Section 133 of the Companies Act, 2013 ("the

principles generally accepted in India and in compliance with requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

- 2. We conducted our audit in accordance with the auditing standards issued by the Institute of Chartered Accountants of India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Financial Results are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts disclosed in the Financial Results. An audit also includes assessing the accounting principles used and significant estimates made by the management. We believe that our audit provides a reasonable basis for our opinion.
- 3. In our opinion and to the best of our information and according to the explanations given to us, these quarterly financial results as well as - the year to date results:
  - i. are presented in accordance with the requirements of the Regulation read with the Circular, in this regard; and
  - ii. give a true and fair view of the net profit, other comprehensive income and other financial information of the Company for the

![](_page_15_Picture_7.jpeg)

4. The statement includes the results for the quarter ended 31st March, 2020 (considered audited) being the derived figures between the audited figures in respect of the current full financial year ended 31st March, 2020 and the published year-to-date figures up to 31st December, 2019, being the date of the end of the 3rd quarter of the current financial year which were reviewed by us.

## For **Demble Ramani and Company** Chartered Accountants

102259W)

**Place of Signature :- Nagpur. Date of Report :- 18th June 2020** 

UDIN-20030537~N1751

![](_page_17_Picture_0.jpeg)

Regel. OIT: MOIL l3hawan. I t\ l(atol Road. N/\(iPLJR -' <sup>10</sup>013 Website : \\\\\\.moiln ic.in. L -Mailll): comp lianccumoilnic. in, Ph: 071 7.- 7806187 . h1x 0717.-7. :'91661. ('IN: 1.')9999MIII967.Ci0101 2398

### **DECLARATION RELATED TO AUDIT REPORT FOR F.Y. 2019-20**

This is declared that the Audit Report pertaining to the Annual Audited Financial Results of the st Company for the year ended 31 · March, 2020 does not have any n1odified opinion/ qualification/ reservation/ an adverse remark, hence statement · showing impact for any modified opinion is not applicable on the company.

**For MOIL Limited** 

Place: Nagpur Date: 18th J unc, 2020

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