MOIL Limited — Annual Report 2021

Jun 4, 2021

(A Government of India Enterprise) Regd. Off.: MOIL Bhawan, 1A Katol Road, NAGPUR – 440 013

Website:www.moil.nic.in, E-Mail ID: compliance@moil.nic.in, Ph.: 0712- 2806182, Fax: 0712-2591661, CIN: 99999MH1962GOI012398

CS/NSE-BSE/2021-22/22 Date: 04.06.2021

To, The GM (Listing), National Stock Exchange of India Ltd, Exchange Plaza, Plot No.C-1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400053

To, Listing Department Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001

Dear Sir,

Sub : Audited Financial Results for the quarter and year ended on 31/03/2021 and recommendation of Final Dividend.

Stock Code: NSE: MOIL BSE: 533286 ISIN: INE490G01020

This is further to our letter dated 25.05.2021, wherein the Exchange was informed about the date of Board meeting to consider and approve the audited financial results of the Company for the quarter and year ended on 31st March, 2021 and to consider and recommend Final Dividend, if any, for the financial year ended on 31st March, 2021.

Pursuant to listing regulations it is to inform to Exchange that the Board of Directors of the Company in their meeting held today, has:

• 1. Approved the Audited Financial results of the Company for the quarter and year ended on 31st March, 2021. We are enclosing herewith a copy of the approved result along with the Auditor's Report and declaration under second proviso of Regulation 33(3)(d).
• 1. Recommended Final Dividend of Rs. 4.90 per Equity Share of Face Value of Rs.10 each, for the Financial Year ended on 31st March, 2021.

Meeting Started at 2:00 p.m. and Concluded at 5:00 p.m.

Thanking you,

Yours faithfully, For MOIL Limited

(Neeraj Dutt Pandey) Company Secretary

Encl.: As above

CIN: L99999ME1962GOI012398

Statement of Standalone audited financial results for the quarter and year ended 31st March, 2021

( Prepared in Compliance with Indian Accounting Standards (IND AS) )						(~in lakhs)
Sr.	Particulars		For quarter ended		For the	For the
No.					financial	financial
					year ended	year ended
			31-03-2021 31-12-2020 31-03-2020			31-03-2021 31-03-2020
		Audited	Unaudited	Audited	Audited	Audited
1	(a) Revenue from operations	45013.73	26770.44	24865.84	117737.77	103806.51
	(b) Other income	3142.47	1933.06	3429.89	10247.57	18111.40
	Total income	48156.20	28703.50	28295.73	127985.34	121917.91
	2 Expenses
	(a) Cost of materials consumed	437.12	461.75	435.54	1357.21	1646.20
	(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	3780.69	-2207.61	-2036.75	6709.74	-6833.29
	(d) Employee benefits expense (e) Finance costs	11620.33 0.00	11495.46 0.00	15257.47 0.00	44435.84 0.00	46260.69 0.00
	(f) Depreciation and amortisation expense	2794.38	2538.00	1907.44	9917.49	9616.15
	(g) Other expenses	13586.90	9417.74	10570.11	36553.63	37179.01
	Total expenses	32219.42	21705.34	26133.81	98973.91	87868.76
	3 Profit/ (loss) before exceptional items and tax [1 2]	15936.78	6998.16	2161.92	29011.43	34049.15
	4 Exceptional items	0.00	0.00	0.00	5000.00	0.00
	5 Profit/ (loss) before tax [3 -4]	15936.78	6998.16	2161.92	24011.43	34049.15
	6 Tax expense
	(a) Current tax	4093.17	2021.20	456.69	6483.10	9033.74
	(b) Deferred tax	240.01	-161.44	357.87	-134.74	193.39
	Total tax expense	4333.18	1859.76	814.56	6348.36	9227.13
	[5-6] 7 Net profit/ (loss) for the period from continuing operation	11603.60	5138.40	1347.36	17663.07	24822.02
	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]	11603.60	5138.40	1347.36	17663.07	24822.02
	10 Other comprehensive income
	A (i) Items that will not be reclassified to profit or loss	671.47	249.45	2990.51	1447.91	718.07
	(ii) Income tax relating to items that will not be reclassified to profit or loss	-209.53	-59.75	-754.55	-406.14	-184.39
	B (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
		461.94	1o'::1.tu		1041.77	533.68
	11 Total Comprehensive Income for the period after taxes [9 + 10]	12065.54	5328.10	3583.32	18704.84	25355.70
	12 Paid-up equity share capital (Face value of share ~ 10 each)	23732.79	23732.79	23732.79	23732.79	23732.79
	13 Other equity				258257.32	252605.64
	14 Earnings per share from continuing operation
	(a) Basic(~ 10 each )	4.89	2.17	0.56	7.44	9.80
	(b) Diluted (~ 1 0 each )	4.89	2.17	0.56	7.44	9.80
	EPS as on 31.03.2020 was calculated on weighted average paid-up share capital (due to buy-back of shares on 16.01.2020).

1

Standalone statement of assets and liabilities

			(~in lakhs)
Sr	Particulars	As at	As at
No			31-03-2021 31-03-2020
		Audited	Audited
	1 ASSETS
	Non-current assets
	(a) Property, Plant and Equipment	65629.37	58019.71
	(b) Capital work-in-progress
		20089.78	24016.20
	(c) Investment Property	0.00	0.00
	(d) Other Intangible assets	661.87	713.87
	(e) Intangible assets under development	166.85	187.23
	(f) Financial Assets
	(i) Investments	1.29	23.29
	(ii) Trade receivables	0.00	0.00
	(iii) Loans	128.47	106.58
	(iv) Others	2392.68	2347.30
	(g) Deferred tax assets (Net)	1734.37	1599.63
	(h) Other non-current assets	13957.15	11528.78
	Sub-total - Non-current assets	104761.83	98542.59
	2 Current assets
	(a) Inventories	11008.16	17792.90
	(b) Financial Assets
	(i) Investments	32452.13	702.17
	(ii) Trade receivables	22655.05	13403.86
	(iii) Cash and cash equivalents	500.83	20499.63
	(iv) Bank balances other than (iii) above	157554.14	159968.45
	(v) Loans	361.76	455.45
	(vi) Others	0.00	0.00
	(c) Current tax assets (Net)	0.00	4069.93
	(d) Other current assets	9738.18	14709.94
	Sub-total - Current assets	234270.25	231602.33
	TOTAL- ASSETS (1+2)	339032.08	330144.92
	EQUITY AND LIABILITIES
	1 Equity
	(a) Equity Share capital	23732.79	23732.79
	(b) Other Equity	258257.32	252605.64
	Sub-total - Equity	281990.11	276338.43
	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	5552.77	5050.69
	(c) Other non-current liabilities	1404.97	1571.95
	Sub-total - Non-current liabilities	6957.74	6622.64
	3 Current liabilities
	(a) Financial Liabilities
	(i) Borrowings	0.00	0.00
	(ii) Trade payables	2898.86	3679.47
	(iii) Other financial liabilities (other than those specified )	10704.83	14020.87
	(b) Other current liabilities	31080.73	25089.69
	(c) Provisions	4055.19	4393.82
	(d) Current Tax Liabilities (Net)	1344.62	0.00
	Sub-total - Current liabilities	50084.23	47183.85
	TOTAL- EQUITY AND LIABILITIES (1+2+3)	339032.08	330144.92

Standalone Segment-wise revenue, results for the quarter and year ended 31st March, 2021 and assets and liabilities as on that date.

						(~in lakhs)
Sr.	Particulars	For quarter ended			For the	For the
No.				financial	financial
					yearended	yearended
		~---------r---------r--------~			31-03-2021 31-12-2020 31-03-2020 31-03-2021 31-03-2020
		Audited	Unaudited	Audited	Audited	Audited
	1 Segment revenue
	(a) Mining products	41392.27 3937.81	24970.41 2244.12	23192.82 2198.26	108617.80 10292.47	99143.14 6094.57
	(b) Manufactured products (c) Power	397.73	343.06	428.29	1643.66	1919.19
	Sub-total	45727.81	27557.59	25819.37	120553.93	107156.90
	(-) Inter-segment revenue	714.08	787.15	953.53	2816.16	3350.39
	Gross sales/income from operations	45013.73	26770.44	24865.84	117737.77	103806.51
	2 Segment results [Profit/(-)loss before exceptional items,tax. and interest] (a) Mining products	11777.25	4815.06	-958.04	16885.61	14712.90
	(b) Manufactured products	846.28	107.89	-541.73	1085.28	64.94
	(c) Power	170.78	142.15	231.80	792.97	1159.91
	Sub-total	12794.31	5065.10	-1267.97	18763.86	15937.75
	(+) Other unallocable income (net of unallocable expenditure)	3142.47	1933.06	3429.89	10247.57	18111.40
	Profit from ordinary activities before exceptional items and tax	15936.78	6998.16	2161.92	29011.43	34049.15
	3 Segment assets
	(a) Mining products	113480.57	108993.47	105475.97	113480.57	105475.97
	(b) Manufactured products	4198.37	4821.31	5860.50	4198.37	5860.50
	(c) Power	8214.16	8307.64	8778.76	8214.16	8778.76
	(d) Unallocated	213138.98	205502.39	210082.48	213138.98	210082.48
	Total		339032.08 327624.81	330197.71	339032.08	330197.71
	4 Segment liabilities
	(a) Mining products	34194.84	31082.91	31068.12	34194.84	31068.12
	(b) Manufactured products	1744.12	1622.14	1581.56	1744.12	1581.56
	(c) Power	1323.21	1309.60	1321.30	1323.21	1321.30
	(d) Unallocated	19779.80	17752.27	19888.30	19779.80	19888.30
	Total	57041.97	51766.92	53859.2	57041.97	53859.28
Notes:
	(1) The above results, reviewed by the Audit Committee, have been approved by the Board of Directors in its meeting held on 4th June,2021 and have been audited by statutory
	auditors of the company. This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
	(2) Information about investor complaints for the quarter: Opening- Nil, received during the quarter -Nil, resolved during the quarter -Nil and pending as at 31.03.2021 -Nil.
	(3) The Board has recommended final dividend on' 4.90 per equity share for the financial year 2020-21, in addition to~ 2.50 per equity share already paid as interim dividend.
	( 4) Covid-19 pandemic and lockdown protocols have led to severe disruptions, affecting production,sales and profit during current reporting period. Therefore, the performance of the compny for this period is not comparable with corresponding period or any period of previous year.
	(5) Exceptional items includes contribution towards PM Cares Fund and Maharashtra ChiefMiniter's Relief Fund.
	(6) During the year, as per decisions of Boards of the respective Companies to wind up joint venture companies, applications have been submitted with Registrar of Companies
	for striking off the names of the Company's joint ventures with Steel Authority of India Limited (SAIL & MOIL Ferro Alloys Private Limited) and Rashtriya Ispat Nigam Limited (RINMOIL Ferro Alloys Private Limited). The applications are under process. In view of this, only standalone results are published, there being no commercial and operating activities in the joint venture companies.
	(7) Previous period's figures have been regrouped/reclassified, wherever necessary to make them comparable. The figures for the quarter ended 31st March,2021 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,
	Chairman-cum-Managing Director DIN : 05339308 Place : Nagpur		Partner	Membership Number: 030537
	Date : 4th June,2021

3

MOIL LIMITED STAND ALONE STATEMENT OF CASH FLOWS

(~in lakbs)
Particulars	As at the end of current		As at the end of previous
	reporting year 31st March,2021		reporting year 31st March,2020
A Cash flow from operating activities
Profit/(Loss) before income tax from
Continued Operations		29011.43		34049.15
Discontinued Operations		0.00		0.00
Profit before income tax including discontinued operations		29011.43		34049.15
Adjustment for-	-6599.16		-15463.74
(a) Interest on fixed deposits (b) Dividend on investment	-0.01		-0.04
(c) Profit on redemption of mutual fund	-781.87		-729.62
(d) Depreciation & Amortisation expense	9917.49		9616.15
(e) Exceptional items	-5000.00		0.00
(f) Loss on Joint Venture (RINMOIL & SAIL & MOIL)	369.16
(g) Deductions from plant, property and equipments	137.84		156.11
		-1956.55		-6421.14
Operating Profits before working capital changes		27054.88		27628.01
Adjustments for-
(a) (Increase )/Decrease in Inventories	6784.74		-7530.63
(b) (Increase )/Decrease in Trade Receivables	-9251.19		-219.31
(c) (Increase )/Decrease in Current Assets	9041.69		-2852.18
(d) (Increase )/Decrease in Non-current Assets	-2428.38		-3805.88
(e) (Increase )/Decrease in Loans and advances	71.80		26.31
(f) Other comprehensive income	1041.77		533.68
(g) Increase/(Decrease) in Trade & other payables	3235.48		1230.21
		8495.91		-12617.80
Cash generated from operations		35550.79		15010.21
Income tax paid (net)		-6483.10		-9033.74
Income tax paid for earlier years		0.00		-178.16
Net cash from operating activities		29067.69		5798.31
B Cash flow from investing activities
(a) Interest received on fixed deposits	6599.16		15463.74
(b) Dividend on investment	0.01		0.04
(c) Profit on redemption of mutual fund	781.87		729.62
(d) Acquisition of tangible and intangible assets and towards capital
work in progress (net of sale proceeds)	-13666.18		-19986.90
(e) Investment in term deposits with more than three months	-30500.00		61834.79
(f) Investment in term deposits for 12 months	33063.81		0.00
(g) Deposits paid towards LCs and BGs (towards non fund based faciliti	-190.50		-57.84
(h) Investments (in Subsidiaries/ Joint Venture)	22.00		-1.00
(i) Loss on Joint Venture (RINMOIL & SAIL & MOIL)	-369.16
(j) Current investment in liquid mutual fund Net cash used in investing activities	-31749.96	-36008.95	10749.76	68732.21
c Cash flow from financing activities (a) Dividend (*including dividend distribution tax)	-13053.16		-17900.18
(b) Dividend accounts pending encashment of warrants	-4.38		-26.36
(c) Buy-back of shares	0.00		-30827.13
(d) Tax and expenses on buy-back of shares	0.00		-7403.35
Net cash used in financing activities		-13057.54		-56157.02
D Net increase/(-) decrease in cash and cash equivalents		-19998.80		18373.50
E Opening cash and cash equivalents		20499.63		2126.13
Closing cash and cash equivalents		500.83		20499.63
Net increase/(-) decrease in cash and cash equivalents		-19998.80		18373.50

The statement of cash flows is prepared using the indirect method, as given in Ind AS 7.

As per our report of even date For Mfs Demble Ramani & Co.

Place : Nagpur Date:

For and on behalf of the Board of Directors

(A Government of India Enterprise)

Off.: MOIL Bhawan, 1 A Katol Road, NAGPUR- 440 013 Website: E-Mail ID: Ph.: 0712- Fax: CIN: L99999MH1962GOI012398

This is declared that the Audit Report pe1iaining to the Annual Audited Financial Results of the Company for the year ended 31st March, 2021 does not have any modified opinion/ qualification/ reservation/ an adverse remark, hence statement showing impact for any modified opinion is not applicable on the company.

Place: Nagpur Date: 04th June, 2021

15

1. Results Limited ("the Company") for the year 31st March, 2021, attached herewith, being submitted by the Company 2015 with SEBI Circular no. CIR/ /FAC/62/2016 dated 5th July, 2016. 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

principles generally accepted 1n India and in compliance with requirements of Regulation 33 of the (Listing Obligations and Disclosure Requirements) Regulations, 20 15.

• 1. 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 assurance Financial are material includes '"'"",. .................................... ,...,, on a Results. audit also includes assessing accounting principles used and significant estimates made the management. believe our a our
• 1. our our explanations given us, these quarterly financial results as as the year-to-date results:
• 1. are presented in accordance with the requirements of the Regulation read with the Circular, in this regard; and
• n. give a true and fair view of the net profit, other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2021.
• 1. The statement includes the results for the quarter ended 31st March, 2021 (considered audited) being the derived figures between

December, 2020, being the date of the end of the quarter of the

current financial year which were reviewed by us.

For &JI'"'"".~~..u~u.~~. ..... ,~~,,~~,CI;II,.~~..~~..~~.g,.~~..~~..~~.

Chartered Accountants

(Firm's Registration Number: 102259W)

ASH OK KIMATRAI RAMAN I Digitally signed by ASHOK KIMATRAI RAMAN I Date: 2021.06.04 15:43:40 +05'30'