MOIL Limited — Annual Report 2023

May 26, 2023

(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/2023-24/ Date: 26.05.2023

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

Sub : Audited Financial Results for the quarter and year ended on 31/03/2023 and Recommendation of Final Dividend.

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

Dear Sir,

This is further to our letter no. CS/NSE-BSE/2023-24/37 dated 16.05.2023. In this regard, it is to inform 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, 2023. We are attaching herewith a copy of the approved results along with the Auditor's Report and declaration under second proviso of Regulation 33(3)(d).

We are also arranging publication of results in newspapers, as per SEBI (LODR) Regulations 2015.

1. Recommended Final dividend of Re.0.69 per equity share of face value of Rs.10 each, for the financial year ended on 31st March, 2023.

Meeting Started: 11:00 hrs. Meeting Ended: 16:00 hrs.

Yours faithfully,

For MOIL Limited

NEERAJ DUTT PANDEY Digitally signed by NEERAJ DUTT PANDEY DN: c=IN, postalCode=440030, st=MAHARASHTRA, l=NAGPUR, o=Personal, serialNumber=8fb6facb083b630969bd66d1566814315b7 6a18b3d630955a816d5d37371a6b0, pseudonym=186520210922140147111, 2.5.4.20=82f2c2053474bfbab48cb5961d119d908e945b7 3052176fbfec2bd38b291d1eb, email=NEERAJDP_ACS@REDIFFMAIL.COM, cn=NEERAJ DUTT PANDEY, title=1865

Date: 2023.05.26 16:03:16 +05'30'

(Neeraj Dutt Pandey) Company Secretary cum Compliance Officer Encl.: As above

CIN : L99999ME1962G0 1012398

Statement of audited financial results for the quarter and year ended 31st March, 2023

							(tin lakhs)
Sr.	Particulars			For quarter ended			For the
No.						For the financial	financia l
						year ended	year ended
					31.03.2023 31.12.2022 31.03.2022 31.03.2023 31.03.2022
			Audited	Unaudited	Audited	Audited	Audited
1	(a) Revenue from operations		42806.34	30200.24	46788.97	134164.60	143630.44
	(b) Other income		1999.40	2085.77	8 18.50	7687.35	7926.31
	Total income		44805.74	32286.01	47607.47	141851.95	151556.75
	2 Expenses
	(a) Cost of materials consumed at plants		317.13	541.06	423.08	1983.84	1573.51
	(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		1751.28	-926.45	1297.85	-6274.49	1453.94
	(d) Employee benefits expense		13993.74	13358.02	10333.58	57011.02	44304.09
	(e) Fl nance costs		0.00	0.00	73.61	0.00	73.61
	(I) Depreciation and amortisation expense		3146.95	3009.43	2797.57	11433.92	10311.39
	(g) Other expenses		13493.23	11692.84	13338.04	44534.44	42152.72
	Total expenses		32702.33	27674.90	28263.73	108688.73	99869.26
	3 Profit/ (loss) before exceptional items and tax	[1 · 2)	12103.41	4611.11	19343.74	33163.22	51687.49
	4 Exceptional items		0.00	0.00	-641.78	·281.66	-641.78
	5 Profit/ (loss) before tax	(3 ·4)	12103.41	4611.11	19985.52	33444.88	52329.27
	6 Tax expense
	(a) Current tax		3750.51	719.41	5492.13	9071.63	13773.31
	(b) Earlier year tax		0.00	0.00	1128.49	-127.64	1128.49
	(b) Deferred tax		258.11	·59.82	257.86	-558.15	-27 1.02
	Total tax expense		4008.62	659.59	6878.48	8385.84	14630.78
	7 Net profit/ (loss) for the period from continuing operation	[5 . 6]	8094.79	3951.52	13107.04	25059.04	37698.49
	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]	8094.79	3951.52	13107.04	25059.04	37698.49
	10 Other comprehen sive Income A (i) Items that will not be reclassified to profi t or loss		-2370.87	-383.71	-2024.56	-3425.18	-2961.79
	(ii) Income tax relating to items that will not be reclassified to profit or loss		1115.03	-432.07	977.25	855.79	743.17
	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
	Other comprehensive income for the period (net of tax)		·1255.84	-815.78	-1 047.3 1	-2569.39	-2218.62
	11 Total Comprehensive Income for the period after taxes	[9 + 10]	6838.95	3135.74	12059.73	22489.65	35479.87
	12 Paid-up equity share capital (Face value of share ~ 10 each)		20348.52	20348.52	20348.52	20348.52	20348.52
	1 3 Other equ ity					204083.21	193802.68
	14 Earnings per share from continuing operation
	(a) as (~ 10 each )		3.98	1.94	5.92	12.31	16.1 5
	(b) Diluted (~ 10 each )		3.98	1.94	5.92	12.31	16.15

	Statement of a ssets and liabilities (fin la kbs)
Sr	Particulars	As at	As at
No		31.03.2023 3 1.03.2022
		Audited	Audited
	1 ASSETS
	Non-current a ssets
	- (a) Property, Plant and Equipment	81245.62	67154.51
	(b) Capital work-in-progress	26072.57	29997.94
	[c) Investment Property	0.00	0.00
	(d) Other Intangible assets	3966.32 965.96	490.12 1426.19
	(e) Intangible assets under development (f) Financial Assets
	(i) Investme nts	859.64	741.70
	(ii) Trade receivables	0.00	0.00
	[iii) Loans	177.06	149.60
	(iv) Others	3521.83	2761.59
	(g) Deferred tax assets (Net)	2563.54	2005.39
	(h) Othe r non-current assets	10664.42	9986.33
	Sub-total - Non-curre nt assets	130036.96	114713.37
	2 Current assets (a) Inventories	17023.62	10011.74
	(b) Financial Assets
	(i) Investments	14298.90	22410.3 1
	(ii) Trade rece ivables	14334.00	17286.36
	(iii) Cash and cash equivalents	1305.04 79945.33	2474.83 81589.72
	(iv) Bank balances other than (iii) above (v) Loans	1771.08	2401.30
	(vi) Others	31 40.95	2029.80
	(c) Current tax a ssets (Net)	2430.05	413.41
	(d) Other current assets	4882.52	4644.48
	Sub-total - Current a ssets	139131.49	143261.95
	TOTAL- ASSETS (1+2) EQUITY AND LIABILITIES	269168.45	257975.32
	1 Equity
	(a) Equity Share capital	20348.52	20348.52
	(b) Other Equity	204083.21	193802.68
	Sub-total - Equity	224431.73	214151.20
	Liabilities 2 Non-current lia bilities
	[a) Financial Liabilities
	(i) Borrowi ngs	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 I (c) Other non-current liabilities	6706.51 42.24	5869.60 862.88
	Sub-total - Non-current lia bilities	6 748.75	6732.4 8
	3 Current lia bilities
	(a) Financial Liabilities
	(i) Borrowings	0.00	0.00
	[ii) Trade payables (iii) Other fina ncia l liabilities	3060.64 13773.85	3287.10 12415.03
	(b) Other current liabilities	14747.32	15916.38
	(c) Provisions	6406.16	5473.13
	(dJ Current Tax Liabilities (Net)	0.00	0.00
	Sub-total - Current liabilitie s	37987.97	3709 1.64
	TOTAL· EQUITY AND LIABILITIES (1+2+3)	269168.4 5	257975.32

Segment-wise revenue, results for the quarter and nine months ended 31st March, 2023 and assets and liabilities as on that date. 3

						(~in lakhs)
Sr.	Particulars		For quarter ended			For the For the
No.					financial	financial
					year ended	year ended
		31.03.2023	31.12.2022	31.03.2022	31.03.2023	31.03.2022
		Audited	Unaudited	Audited	Audited	Audited
	1 Segment revenue
	(a) Mining products	39711.49	28094.29	42537.08	124744.88	132076.52
	(b) Manufactured products	3125.03	2492.94	4569.63	10694.69	12764.85
	(c) Power	404.51	439.42	455.57	2132.91	1900.02
	Sub-total	43241.03	31026.65	47562.28	137572.48	146741.39
	(-) Inter-segment revenue SalesL_income from operations	434.69	826.41	773.31	3407.88	3110.95
		42806.34	30200.24	46788.97	134164.60	143630.44
	2 Segment results [Profit/(-)loss before exceptional items, tax and interest]
	(a) Mining products	9597.31	2010.62	16426.14	22491.88	37932.49
	(b) Manufactured products	358.06	267.77	1934.31	1708.44	4813.98
	(c) Power	148.64	246.95	238.40	1275.55	1088.32
	Sub-total	10104.01	2525.34	18598.85	25475.87	43834.79
	( - ) Finance cost IC+J Other unallocable income (net of unallocable expenditure)	0.00 1999.40	0.00 2085.77	73.61 818.50	0.00 7687.35	73.61
	Profit from ordinary activities before exceptional items and tax	12103.41	4611.11	19343.74	33163.22	7926.31 51687.49
	3 Segment assets
	(a) Mining products (b) Manufactured products	123411.84 4046.79	115720.23 5459.79	101694.32 3783.27	123411.84 4046.79	101694.32 3783.27
	(c) Power	7370.03	7513.27	7407.91	7370.03	7407.91
	(d) Unallocated	134339.79	134613.88	145089.82	134339.79	145089.82
	Total	269168.45	263307.17	257975.32	269168.45	257975.32
	4 Segment liabilities
	(a) Mining products	19171.84	17034.23	19176.11	19171.84	19176.11
	(b) Manufactured products	1523.97	1608.23	816.91	1523.97	816.91
	(c) Power	1092.58	1042.62	1128.46	1092.58	1128.46
	(d) Unallocated	22948.33	19924.74	22702.64	22948.33	22702.64
	Total	44736.72	39609.82	43824.12	44736.72	43824.12
	Notes :
	(I) The above results, reviewed by the Audit Committee, have been approved by the Board of Directors in its meeting held on 26th May, 2023 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
	(lnd AS) prescribed under Section 133 of the Companies Act, 20 13 and other recognised accounting practices and policies to the extent applicable. The audited
	accounts are subject to Supplementary Audit by the Comptroller and Auditor General of India under section 143(6) of the Companies Act, 2013.
	(2) The Board has recommended fmal dividend on 0.69 per equity share for the financial year 2022-23 subject to the approval of shareholders at the ensuing
	Annual General meeting of the Company, in addition to ~ 3.00 per equity share already paid as interim dividend.
	(3) Information about investor complaints for the quarter : Opening- Nil, received during the quarter- Nil, resolved during the quarter- Nil and pending as at
	31.03.2023 - Nil.
	(4) Exceptional item includes write back of liability created earlier due to arbitration awarded but not claimed since FY 1995-96.
	(5) Previous period's figures have been regrouped/reclassified, wherever necessary to make them comparable. The figures for the quarter ended 3 1st
	March 2023n022 are balancinj;( figures between the audited fi ~res of full vear and reviewed figures upto 3 1st December 2022/2021 .
	As per our report of even date For Mfs )odb Joshi & Co.,		For MOIL Limited,
	Chartered Accountants
	, - t~ ,,
	90 ' 104310W				~
	.-= oe
CA	~~~p· d Joshi Ma			AJitKum• Chairman-cum-Managing
	• * Partner				Director
	Membership Number: 047196 ~~::?) UDIN: 1J0471968GWA1.18951		DIN : 08588419
	- ~"'G~~
	Place : New Delhi

Date : 26th May,2023

STATEMENT OF CASH FLOWS (~ iD lakbs)
Partlculan	As at the end of current reporting year 31st March,2023			As at the end of current reporting year Jist March,2022
A Cash flow from operating activities
Profit/(Loss) before Income tax from
Continued Operations		33 163.22		51687.49
Discontinued Operations		0.00		0.00
Profit before income tax including discontinued operations		33163.22		51687.49
Ad justment for -
(a) Interest on fixed deposits	-4756.7 1		-5678.08
{b) Interest from loan to employes	-22.77		-21.46
(c) Dividend on investment	-0 03		-0.05
(d) Profit on redemption of mutual fund	-938.59		-988.18
(e) Depreciation & Amortisation expense (f) Exceptional items	11433.9 1		10311.39
(g) Deductions from plant, property and equipment	281.66		641.78
	261.78	6259.25	189.99
Operating Profits before working capital changes		39422.47		4455.39 56142.88
Ad justments for -
(a) (Increase )!Decrease in Inventories	-7011.88		996.42
(b) (lncrease)/Decrease in Trade Rece ivables	2952.36		5368.68
(c) (lncrease)/Decrease in Current Assets	-3365.83		2650.48
{d) (Increase )!Decrease in Non-current Assets	-792.40		1246.64
(e) (lncrease)/Decrease in Loans and advances	602.76		-60.67
(f) Other comprehensive income	-2544.53		-2209.66
(g) Increase/(-) Decrease in Trade & other payables	887.74		-13226.8 1
		-9271.78		-5234.92
Cash generated fr om operations		30150.69		50907.96
Income tax paid (net)		-9071.63		-1377331
Income tax paid for earlier years Net cash from ope rating activities		127.64		-11 28.49
		21206.70		36006. 16
B Cash flow from investing activities
(a) Interest received on fi xed deposits	4756.7 1		5678.08
(b) Interest from loan to employes	22.77		21.46
(c) Dividend on investment (d) Profit on redemption of mutual fund	0.03		0.05
(e) Acquisition of tangible and intangible assets and towards capital work	86 1.67		908.66
in progress (net of sale proceeds)
Change in advance for purchase of capital items (f)	-24504.89 -372.5 1		-2 1558.45
(g) Proceeds/ (Investment) in term deposits with more than three months	3000.00		-1 463.8 1 12000.00
(h) Proceedsl(lnvestment) in term deposits for 12 months	3500.00		64822.87
(i) Deposits paid towards LCs and BGs (towards non fund based facilities)	-5499.46		-1 162.87
(j) Investments ( in Joint Venture to be incorporated)	-117.94		-70.38
(k) Proceeds/ (Investment) in liquid mutunl fund	8 188.33		10121.34
Net cash used in investing activities		-10165.29		69296.95
c Cash flow from financing activities
(a) Dividend	-12209. 12		-17733.74
(b) Dividend accounts pending encashment of warrants	-2.08		-10.33
(c) Buy-back of shares	000		-69377.47
(d) Tax and expenses on buy-back of shares	0.00		-16207.57
Net cash used In financing activities		- 12211.20		-103329.11
D Net increase/(-) decrease in cash a nd cash equivalents		-1169.79		1974.00

E Opening cash and cash equivalents Closing cash and cash equivalents Net Increase/(-) decrease in cash a nd cash equivalents

The statement of cash tlows is Dreoared usin11: the indirect method, as given in lnd AS 7,

-

As per our report of even date For M/s Jodh Joshi & Co. Chartered Accountants

Firm's Registration Number : 104317W _

.N~'\ J'SoSH/@() CA a~dJoshl ~: ~ :~) Partner Membership Number: 047196 ~-4G~~

UDIN: 230oi7196BCWALI8951 Place : New Delhi Date : 26th May,2023

ltK~ - Managing Director

For and on behalf of the Board of Directors

2474.83 1305.04 - 1169.79

500.83 2474.83 1974.00

Chairman-cum DIN : 08588419 4

DECLARATION RELATED TO AUDIT REPORT FOR F.Y. 2022-23

This is declared that the Audit Report pertaining to the Annual Audited Financial Statement/Results of the Company for the year ended 3151 March, 2023 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.

For MOIL Limited

AjitK na Chairman-cum-Managing Director

Place : New Delhi Date :26th May, 2023

JODHJOS CHARTERED DCO. UNTANTS

Auditors' Report on Annual Stan Limited Pursuant to the Regula Obligations and Disclosure Requir loAe Financial Results of MOIL 33 of the SEBI (Listing ents) Regulations, 2015

TO THE BOARD OF DIRECTORS OF MOIL LIMiltED

• 1. We have audited the accompanying arhnual Standalone Financial Results of MOIL Limited ("the Company") for the year endrd rls1 March 2023, attached herewith, being submitted by the Company pursuant to {Listing Obligations and Disclosur. Req ents) Regulations, 2015 read with SEBI Circular no. CIR/CFD/FAC/62/201v dated! 5th Jt.11y, 2016. These Financial Results have been prepared on the basis of ~he .nu I udited financial statements and reviewed quarterly financial results up to the r : od : 'i t irdl quarter which are the responsibility of the Company's management and has be n ap ·roved by the Board of Directors. Our responsibility is to express an opinion on h se inancial Results, based on our audit of such Financial Statements, which hav recognition and measurement principles I eert prepared in accordance with the n in Indian Accounting Standards {lnd AS) specified under Section 133 of the !Cojnp1nies Act, 2013 ("the Act") read with relevant rules made there under 3nd othkr Jccolmting principles generally accepted in India and in compliance with requiret1ents <f Regulation 33 of the SEBI {Listing Obligations and Disclosure Requirements)IRe uiJtions, 2015.
• 1. We conducted our audit in accordancel wt h }he auditing standards issued by the Institute of Chartered Accountants of lnd a. ho e standards require that we plan and perform the audit to obtain reasonable a su an e about whether the Financial Results are free from material misstatement. Am audi~ includes examining, on a test basis, evidence supporting the amounts discl qse~ inl the Financial Results. An audit also includes management. assessing We believe the accounting that our principl audit p 1s ov ~s lde ~ J and a reasonable significant basis estimates for our ~

Head Office : lst Floor, JP House, Ravinaga~ Sqf.ar~ agpur · 440010, V : 0712·252t.N&:GP}J Branch : 3, Giriraj Heights, Patil Lane No. 3, C' lle e · ad, Nashik · 422005, W :0712-2522756 E-mail : jjcoca.ngp@gmail.com, belpdesk@jth osh .com, Website : www.jodhjoshi.com

I

• 1. In our opinion and to the best of r infor ⁿand according to the explanations given to us, these quarterly financit l !esults a. ~~II as the year-to-date results:
• i. are presented in accordance 4 ith he r~q~ irements of the Regulation read with the Circular, in this regard; af " 1 ' 1 1
• ii. give a true and fair view of net profit, ther comprehensive income and other financial information of the tdmpa ^yfcbr tihe quarter and year ended March 31, 2023.
• 1. rtl ^rended 31st March, 2023 (considered audited) being the derived figures be we n ~~ 'Ldited figures in respect of the current full financial year ended 3Pt March, 1202 3Pt December, 2022, being the date o financial year which were reviewed bw us. tH:e published year-to-date figures up to efild of the 3rd quarter of the current

Date: 26.05.2023 Place: NEW DELHI

FOR JODH JOSHI AND CO. CHARTERED ACCOUNTANTS (FRN. 104317W)

~ l(\ '

CA MA~ND JOS I (PARTNER) (Mem No. 047196) (UDIN : 23047196BGWAL18951)