MOIL Limited — Interim / Quarterly Report 2020

Jan 30, 2020

(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/2019-20/ Date: 30.01.2020

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 : Un-audited Financial Results for the quarter ended on 31/12/2019 and declaration of Interim Dividend. Stock Code: NSE: MOIL BSE: 533286 ISIN: INE490G01020

Please refer to our letter no. CS/NSE-BSE/2019-20/424 dated 18.01.2020. In this connection, it is to inform that the Board of Directors of the Company, in their meeting held today, has:

1. Approved Un-audited Financial results of the Company for the quarter ended on 31 st December, 2019. We are attaching herewith a copy of the approved results along with the Limited Review Report of the Auditors.

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

1. Declared interim dividend Rs. 3.00 per equity share of face value Rs.10 each for the financial year ending on 31st March, 2020.

The Record date for the purpose of payment of dividend is 07/02/2020. The date of payment of interim dividend for the financial year 2019-20 shall be 28/02/2020.

Meeting Started at 1:30 P.M. and Concluded at 5:15 P.M.

Thanking you,

Yours faithfully, Yours faithfully,

For MOIL Limited

N. D. Pandey (Company Secretary & Compliance Officer)

CIN; L99999ME1962GOI012398

Statement of Standalone unaudited financial results for the quarter and nine months en1 ded 31st December, 2019

	(Prepared In Compliance with Indian Accountlns Slllnda rds (I NO AS) )						(f in lakhs)
Sr.No.	Particulars	For quarter ended			For nine months ended	For thefinancia lyear ended
			131-12·2019 30-09-2019 31-12·2018			31·12·2019 31·12·2018 31·03-2019
		I Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	(a) Revenue from operations	I 25622.26	25311.37	33277.49	78940.67	100407.58	144066.60
	(b) Other income	4486.01	5320.64	4734.99	14681.51	13989.61	19081.07
	Total income	30108.27	30632.01	38012.48	93622.18	114397.19	163147.67
	2 Expenses
	(a) Cost of materials consumed(b) Purchase of stock-in-trade	950.790.00	695.570.00	1079.110.00	2742.36	2742.24	3839.50
	{c) Changes in inventories of fi nished goods, stock in trade and work·in· process	-986.38	·1069.81	·2199.36	0.00-4796.54	0.00· 3065.60	0.00·85.92
	{d) Employee benefits expense	10610.16	10038.05	10092.98	31003.22	29680.69	42826.15
	{e) Finance costs	0.00	0.00	0.00	0.00	0.00	0.00
	(f) Depreciation and amortisation expense	2577.82	3185.87	1703.73	7708.71	4728.77	6682.47
	(g) Other expenses	9523.34	7335.68	8844.59	25077.20	27280.85	37910.35
	Total expenses	22675.73	20185.36	19521.05	61734.95	61366.95	91172.55
	3 Profit/ (loss) before exceptional items and tax(I · 2)	I	10446.65	18491.43	31887.23	53030.24	71975.12
	4 Exceptional items	I 7432.540.00	0.00	0.00	0.00	0.00	0.00
	5 Profit/ (loss) before tax[3 . 4]	I 7432.54	10446.65	18491.43	31887.23	53030.24	71975.12
	6 Tax expense
	(a) Current taX	2039.55	1720.40	7041.34	8577.05	20263.68	26608.88
	)(b) Deferred tax	-152.69I	·134.92	·575.79	·164.48	·1113.49	·2022.58
	Total tax expense	1886.86	1585.48	6465.55	8412.57	19150.19	24586.30
	7 Net profit/ (loss) for the period from continuing operation(5 . 6)	5545.68	8861.17	12025.88	23474.66	33880.05	47388.82
	8 Extraordinary items (Net of tax expense)	0.00	0.00	0.00	0.00	0.00	0.00
	[7 . 819 Net profit/ (Joss) for the period	5545.68	8861.17	12025.88	23474.66	33880.05	47388.82
	10 Other comprehensive income
	A (i) Items that will not be reclassified to profit or Joss	·755.99	. 761.75	·967.84	·2272.44	·2727.31	· 3004.06
	(ii) Income taX relating to items that will not be reclassified to profit or loss	190.05	116.24	338.20	570.16	953.03	1047.69
	8 (i) Items that will be reclassified to profit or loss	0.00I	0.00	0.00	0.00	0.00	0.00
	(ii) Income tax relating to items that will be reclassified to profit or loss	0.00I	0.00	0.00	0.00	0.00	0.00
		·565.94	·645.51	·629.64	·1702.28	·1774.28	· 1956.37
	11 Total Comprehensive Income for the period after taxes[9 + 10	4979.74	8215.66	11396.24	21772.38	32105.77	45432.45
	12 Paid-up equity share capital (Face value of share f 10 each)	25760.89	25760.89	25760.89	25760.89	25760.89	25760.89
	13 Other equity						282510.45
	14 Earnings per s hare from continuing operation
	(a) Basic (f I 0 each )	2 .1 5	3.44	4.67	9.11	13.15	18.40
	(b) Diluted (t I 0 each )	2.15	3.44	4.67	9.11	13.15	18.40

. .

Select information

Sr	Particulars		As at
No		31-12-2019	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:Number of sharesPercentage of shares (as a % of total shareholding	8838222134.31%NilN.A.	8838222134.31%NilN.A.
	of promoter and promoter group)Percentage of shares (as a% of total share capitalof the company)(b) Non-encumbered :	N.A.	N.A.
	Number of sharesPercentage of shares (as a% oftotal shareholdingof promoter and promoter group)	169226667100.00%	169226667100.00%
	Percentage of shares (as a % of total share capitalof the company)	65.69%	65.69%

Segment-wise revenue, results for the quarter and nine months e nded 31st December, 2019~tnd assets and liabilities as on that date.

							(~in lakhs)
Sr.	Particula rs		For quarter ended		For nine months ended		For the
No.							financial
							year ended
				31·12·2019 30·09·2019 31·12·2018 31·12·2019 31· 12·201 8 31·03·2019
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	1 Segnnentrevenue
	(a) Mining products	25146.51	23686.83	31262.44	75950.32	93998.20	134115.58
	(b) Manufactued products	I892.08	1787.70	2485.43	3896.31	7143.71	11119.77
	(c) Power	329.05	717.92	174.77	1490.90	1225.48	1367.63
	Sub-total	26367.64	26192.45	33922.64	81337.53	102367.39	146602.98
	(·) Inte r-segment revenue	745.38	881.08	645.15	2396.86	1959.81	2536.38
	Gross sales/Income from operations	25622.26	25311.37	33277.49	78940.67	100407.58	144066.60
	2 Segnnent results [Proflt/(·)loss before tax and Interest)
	(a) Mining products	2753.44	3997.78	12906.85	15670.94	36311.58	49395.57
	(b) Manufactued products	59.10	606.44	764.28	606.67	1771.34	2485.63
	(c) Power	133.99	521.79	85.31	928.11	957.71	1012.85
	Sub-total	2946.53	5126.01	13756.44	17205.72	39040.63	52894.05
	( +) Other unallocable income (net of unallocable expenditure)	4486.01	5320.64	4734.99	14681.51	13989.61	19081.07
	Profit from ordinary activities before exceptional items and tax	7432.54	10446.65	18491.43	31887.23	53030.24	71975.12
	3 Segnnent assets	I
	(a) Mining products	92836.72	87438.76	82165.22	92836.72	82165.22	86840.05
	(b) Manufactued products	6303.77	5318.64	4879.41	6303.77	4879.41	3802.81
	(c) Power	8923.18	9196.12	6354.19	8923.18	6354.19	6315.38
	(d) Unallocated	260648.27	266664.63	259466.10	260648.27	259466.10	263942.17
	Total	368711.94	368618.15	352864.92	368711.94	352864.92	360900.41
	4 Segnnent liabilities
	(a) Mining products	24843.86	24305.48	23050.19	24843.86	23050.19	28066.14
	(b) Manufactued products	1177.57	895.11	1423.27	1177.57	1423.27	506.77
	(c) Power	1280.97	1250.56	1378.71	1280.97	1378.71	1243.73
	(d) Unallocated	20682.66	26419.84	22751.25	20682.66	22751.25	22812.43
	Total	47985.06	52870.99	48603.42	47985.06	48603.42	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 30th january. 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 ·1, resolved during the quarter · 1 and pending as at 31.12.2019 ·1.
	4 The Board has approved an Interim dividend of ~ 3 per equity share forthe financial year 2019-20.
	5 Reduction In turnover and profit during the current reporting period is mainly due to changes In product mix contalnlg 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.
	6 Pursuant to Taxation Laws (Amendment) Ordinance 2019, dated 20.09.2019, the company has exercised the option permitted under section 115BAA ofthe lncomeTax 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 nine months ended 31st December, 20191s 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 December,Z019 are balancing figures between
	the unaudited figures of the nine months and the reviewed figures up to the half year of the financial year.
	For MOIL Umlted,					For M/s Demble Raman! & Co.,
	~~artered Accountants;::
	1:!0oii				d.		'"'~·
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	!f,Y)			~~( NAGPLIR	~~	-
	M. P. Chaudharl		q		'F·• Ashok Raman!

Cbalrman·cum·Manailn& Director Q>_....l. ~,"6'J.Partner

DIN : 05339308 ~ Att.~~ . . Membership Number: 030537

Place : New Delhi - Date : 30th January,2020 I

MOIL LIM ITED STANDALONE STATEMENT OF CASH FLOWS

(' in la khs)

Particula rs	As at the end of current		As at the end of pr evious
	reporting period Jist Dec.,2019		reporting period J ist Dec.,20 18
A Cash flow from operating activit ies
Net profit before tax and d ividend		31887.23		53030.24
Adjustment for -
(a) Interest on fixed deposits	-12859.42		-1 2229.26
(b) Depreciation and amortisation	7708.71		4728.77
(c) Deductions from plant, property and equipments	0.00		0.39
		-5 150.71		-7500.10
Operating profit before changes in working capita l		26736.52		45530. 14
Adjustments for -
(a) Inventories	-5337.41		-3823.70
(b) Trade receivables	-1 65.03		8 133.48
(c) Current assets	2 188.47		2042.20
(d) Other non-current assets	-1980. 13		-3667.46
(e) Loans & advances	-38300.16		-150.29
(I) Other comprehensive income	-1 702.28		-1 774.28
(g) Expenses on buy-back of shares	0.00		0.00
(h) Liabilities and provisions	I-4644.02		4699.44
		-49940.56		5459.39
Cash generated from operations		-23204.04		50989.53
Income tax paid (net)		-8577.05		-20263.68
Net cas h from o perating activities		-3 178 1.09		30725.85
B Cash now from investing activities
(a) Interest on fixed deposits	12859.42		12229.26
(b) Purchase of plant, property & equipmcnts and intangible assets	-12903.03		-11426.18
(c) Buy-back of shares	0.00		0.00
(d) Investment in term deposits with more than three months	3 1734.78		-1227 1.46
(e) Investment in joint ventures	0.00		-1.00
(f) Current investment in liquid mutual fund	735 1.86		-7595.79
INet cash used in investing activities		39043.03		- 19065. 17
c Cash now from financing activities
(a) Dividend (including d1v1dend distribution tax)	-93 16.84		-7764.03
(b) Dividend accounts pending encashment of warrants	-3.46		19.23
(c) Investment in term deposits towards LCs & BGs	-3.23		154.46
Net cash used in fina ncing activities		-9323.53		-7590.34
D Net inc rease/(-) decrease in cash a nd cash eq uivalents		-206 1.59		4070.34
E Opening cash and cash equivalents		2126. 13		241 7.57
Closing cash and cash equiva lents		64.54		6487.9 1
Net inc rease/(-) decr ease in cash am.l cash equiva lents		-2061 .59		4070.34

DEMBLE RAMANI & Co. 201 , M. G.HOUSE, R. T. ROAD,

CIVIL LINES, NAGPUR-440 00 1. · CHARTERED ACCOUNT ANTS PHONE: (07 12) 6603 630 I 63 1I 632 E-mail: dcmblcramam a,,a.hoo.co.in contact a ,dcmbleramani.com Website: ""'" .dcmblcramani.com

~~AM11 : "' ' v,/ ·., . d! . ~'''"' .. '

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LIMITED REVIEW REPORT

To The Board of Directors Moil Limited. Nagpur

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Moil Limited {"the company") for the quarter ended 3Pt December 2019 ("the statement"), being submitted by the company pursuant to the requirements of regulation 33 of SEBI {Listing Obligations & Disclosures Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.
• 1. This statement is the responsibility of the Company's Management and approved by the Board of Directors of the company, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard 34-lnterim Financial Reporting ("lnd AS 34") prescribed under Section 133 of Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial 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 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 financial 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 provide 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, prepared in accordance with applicable Indian Accounting Standards 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,including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DEMBLE RAMANI & CO.

UDIN: 20030537 AAAAAE6298

Partner

Mem No. : 030537

FRN: 102259W

Place : New Delhi Date :30th January, 2020

CIN : L99999ME1962GOI012398

Statement of Consolidated unaudited fi nancial results for the quarter and nine months ended 31st December, 2019

(Prepared in Compliance with Indian Accounting Standard.s (I NO AS))

	(Prepared in Compliance with Indian Accounting Standard.s (I NO AS))						(t in lakhs)
Sr.No.	Particulars	For quarter e nded		For nine montbs ended		For thefinancia lyear e nded
			31-12-2019 30-09-2019 31-12-2018				31-12-2019 31-12-2018 31-03-2019
		Unaudited	Unaudited	Una udited	Unaudited	Unaudited	Audited
1	(a) Revenue from operations	25622.26	25311.37	33277.49	78940.67	100407.58	144066.60
	(b) Olher income	4486.01	5318.68	4735.96	14681.51	13992.77	19081.07
	Total income	30108.27	30630.05	38013.45	93622.18	114400.35	163147.67
	2 Expenses(a) Cost of materials consumed		695.57
	(b) Purchase of stock-in-trade	950.790.00	0.00	1079.110.00	2742.360.00	2742.240.00	3839.500.00
	(c) Changes in inventories of finished goods, stock In trade and work-In-process	-986.38	-1069.81	-2199.36	-4796.54	-3065.60	-85.92
	(d) Employee benefits expense	10610.16	10038.05	10092.98	31003.22	29680.69	42826.15
	(c) Finance costs	0.00	0.00	0.00	0.00	0.00	0.00
	(f) Depreciation and amortisation expense	2577.82	3 185.87	1703.73	7708.71	4728.77	6682.47
	(g) Other expenses	9523.34	7335.68	8844.59	25077.20	27280.85	37453.00
	Total expenses	22675.73	20185.36	19521.05	6 1734.95	61366.95	90715.20
	3 Profit/ (loss) before exceptional items and tax(1- 2)	7432.54	10444.69	18492.40	31887.23	53033.40	72432.47
	4 Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00
	j3- 4}5 Profit/ (loss) before tax	7432.54	10444.69	18492.40	31887.23	53033.40	72432.47
	6 Tax expense
	(a) Current tax	2039.55	1720.40	7041.34	8577.05	20263.68	26608.88
	I (b) Deferred tax	-152.69	-134.92	-575.79	-164.48	-1113.49	-2022.58
	Total tax expense	1886.86	1585.48	6465.55	8412.57	19150.19	24586.30
	7 Net profit/ (loss) for the period from continuing operation[5 - 6)	5545.68	8859.21	12026.8 5	23474.66	33883.21	47846.17
	8 Extraordinary items (Net of tax expense)	0.00	0.00	0.00	0.00	0.00	0.00
	9 Net profit/ (loss) fo r the period[7 - 81	5545.68	8859.21	12026.85	23474.66	33883.21	47846.17
	10 Other comprehensive Income
	A (i) Items that will not be reclassified to profit or loss	-755.99	-761.75	-967.84	-2272.44	-2727.31	-3004.06
	(ii) Income tax relating to items that will not be reclassifi ed to profit or loss	190.05	116.24	338.20	570.16	953.03	1047.69
	B (i) Items that will be reclassified to profit or loss	0.00	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	0.00
		-565.94	-645.51	-629.64	-1702.28	-1774.28	-1956.37
	11 Total Comprehensive Income for the period after taxes[9 + 10	4979.74	8213.70	11397.21	21772.38	32108.93	45889.80
	12 Paid-up equity share capital (Face value of share { 10 each)	25760.89	25760.89	25760.89	25760.89	25760.89	25760.89
	13 Other equity	-					282510.45
	14 Earnings per share from continuing operation
	(a) Basic ({ I 0 each )	2.15	3.44	4.67	9.11	13.15	1 8 .57
	(b) Diluted (t I 0 each )	2.15	3.44	4.67	9.11	13.15	18.57

Select information

Sr	Particulars	As at
No		31-12-2019	31-03-2019
A	PARTICULARS OF SHAREHOLDING1 Public shareholding(a) Number of shares(b) Percentage of shareholding	8838222134.31%	8838222134.31%
	2 Promoters and promoter group shareholding(a) Pledged/encumbered:Number of shares	Nil	Nil
	Percentage of shares (as a% of total shareholdingof promoter and promoter group)	N.A.	N.A.
	Percentage of shares (as a % of total share capitalof the company)	N.A.	N.A.
	(b) Non-encumbered :Number of shares	169226667	169226667
	Percentage of shares (as a% of total shareholdingof promoter and promoter group)	100.00%	100.00%
	Percentage of shares (as a % of total share capitalof the company)	65.69%	65.69%

Consolidated Segment-wise revenue, results for the quarter and nine months ended 3 1st December, 2019 and assets and liabilities as on that date.

							(tin lakhs)
Particulars		For quarter ended			For nine months ended		For thefinancialyear ended
		Unaudited	Unaudite d	Unaudited	Unaudited	Unaudited	Audited
							134115.58
							11119.77
							1367.63
							146602.98
							2536.38
							144066.60
							49852.92
							2485.63
							1012.85
							53351.40
							19081.07
Profit from ordinary activities before exceptional items and tax							72432.47
3 Segment assets
							86840.05
						4879.41	3802.81
							6315.38
							263528.18
	Total						360486.42
							28066.14
							506.77
							1243.73
							22398.42
Total		47570.67	52456.78	48643.93	47570.67	48643.93	52215.06
Sr.No.	1 Segment revenue(a) Mining products(b) Manufactued products(c) Power(·) Inte r-segment revenueGross sales/income from opera tions2 Segment results [Profit/ (· )loss before tax and Interest](a) Mining products(b) Manufactued products(c) Power(+) Other unallocable Income (net of unallocable expenditure)(a) Mining products(b) Manufactued products(c) Power(d) Unallocated4 Segment Uabilltles(a) Mining products(b) Manufactued products(c) Power(d) Unallocated	Sub-totalSub-total		25146.51892.08329.0526367.64745.3825622.262753.4459.10133.992946.534486.017432.5492836.726303.778923.18260233.90368297.5724843.861177.571280.9720268.27	27116.981216.532485.43443.9328777.44770.4028007.048919.72-58.87272.339133.184876.8214010.0087438.765318.649196.12266250.42368203.9424305.48895.111250.5626005.63	31262.4475950.323896.31174.7733922.6481337.53645.1533277.4912906.85764.2885.3113756.444735.9618492.4082165.224879.416354.19259052.44352451.2623050.191423.271378.7122791.76	31·12·2019 30·09·2019 31·12·2018 31·12·2019 31-12-2018 31·03-201993998.207143.711490.901225.48102367.392396.861959.8178940.67100407.5815670.9436311.58606.671771.34928.11957.7117205.7239040.6314681.5113992.7731887.2353033.4092836.7282165.226303.778923.186354.19260233.90259052.44368297.57352451.2623050.1924843.861177.571423.271378.711280.9720268.2722791.76

1 The above results, reviewed by the Audit Committee, have been approved by the Soard of Directors in its meeting held on 30th January, 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 ·1, resolved during the quarter ·1 and pending as at 31.12.2019 ·1.

4 The Board has approved an interim dividend of f 3 per equity share fo r the financial year 2019-20.

5 Reduction in turnover and profit during the current reporting period is mainly due to changes In product mix containig 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

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 nine months ended 31st December, 2019 is after considering the Impact of the revised tax rate.

7 Previous period's figures have been regroupedjreclasslfled, wherever necessary, to make them comparable. The figures for the quarter ended 31st December,2019 are balancing figures between the unaudited figures or the nine months and the reviewed figures up to the half year of the financial year. For MOIL Limited, _ ~ For M/s Demble Ramanl & Co.,

Chairman-cum-Managing Director Partner

.-:,l, .$artered Accountants -" ' :-j ·• RqO""" Nombn' oom• W ·~ , q; .rfJ:J. __.,e>, i ho 0 ._ ~ ~ U ll>li IJ - M. P. Chaudhari rJ Ashok Raman! DIN: 05339308 Membership Number: 030537

Pia<:e : New Delhi Date : 30th January,2020

MOIL LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS

{~in lakhs)

			{~in lakhs)
Pa rticulars	Figures as at the end of current		Figures as at the end of previous
	reporting period 31st Dec.,20 19	reporting period 31st Dec.,2018
A Cash n ow from ope rating activities
Net profit before tax and dividend	31887.23
Adjustment for-			53033.40
(a) Interest on fixed deposits	- 12859.42
(b) Depreciation and amortisation		-12229.26
	7708.7 1	4728.77
(c) Deductions from plant, property and equipments	0.00	0.39
	-5150.71		-7500.10
Opera ting p rofit before changes in working capital	26736.52		45533.30
Adjustments for -
(a) Inventories	-5337.4 1
(b) Trade receivables	- 165.03	-3823.69
(c) Current assets	2 188 46	8133.472042.20
(d) Other non-current assets	-1979.73
(c) Loans & advances	-38300.17	-3668.19
(I) Other comprehensive income	-I 702.28	- 150.29-1774.28
(g) Expenses on buy-back of shares	0.00
(h) Liabilities and provisions	-4644.40	0.00
		4696.03
Cash generated from operations	-49940.56		5455.24
	-23204.04		50988.54
Income tax paid (net)	-8577.05		-20263.68
Net cash from operating activities	-3 1781.09		30724.86
B Cash n ow from investing acti,•ities
(a) Interest on fixed deposits	12859.42	12229.26
(b) Purchase of plant, property & equipments and intangible assets	-I 2903.03	-11426.18
(c) Buy-back of shares	0.00	0.00
(d) Investment in term deposits with more than three months	31734.78	- 12271.47
(e) Current investment in liquid mutual fund	7351.86	-7595.79
I Net cash used in investing activities	39043.03		-19064.18
c Cash now from financing activities
(a) Dividend (including dividend distribution tax)	-9316.84	-7764.03
(b) Dividend accounts pending encashmcnt of warrants	-3.46	19.23
(c) Investment in tem1 deposits towards LCs & BGs	-3.23	154.46
!Net cash used in financing activities	-9323.53		-7590.34
D !Net increase/(-) decrease in cash and cash equiva lents	-2061 .59		4070.34
E Opening cash and cash eq uivalents	2126. 13		2417.57
Closing cash a nd cash eq uivalents	64.54		6487.9 1
Net increase/(-) dec rease in cash and cash equivalents	-2061 .59		4070.34

. DEMBLE RAMANI & Co. . CHARTERED ACCOUNTANTS

201 , M. G.HOUSE, R. T. ROAD, CIVIL LINES, NAGPUR-440 001 . PHONE: (0712) 6603 630 I 631 I 632 E-mail: dcmblcramam a ,\ahoo.co_m contact a dcmblcramani.com Website: ww\ .dcmblcramam.com

·· .... • .. :

INDEPENDENT AUDITOR'S LIMITED REVIEW REPORT ON THE CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED ON 31st DECEMBER 2019

To The Board of Directors Moil Limited. Nagpur

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Moil limited {"the parent")and its subsidiaries {the Parent and its subsidiaries together referred to as "the group" and its share of the net profit/(loss) after tax and total comprehensive income/{loss) of its joint ventures for the quarter ended 3Pt December 2019 ("the statement"), being submitted by the Parent pursuant to the requirements of regulation 33 of SEBI (Listing Obligations & Disclosures Requirements) Regulations, 2015, as amended ("the regulations"),read with SEBI Circular No. CIR/CFD/CMD1/44/2019 dated 29 March 2019("the Circular").
• 1. This statement is the responsibilit y of the Parent's Management and approved by the Board of Directors of the Parent, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard 34-lnterim Financial Reporting ("lnd AS 34") prescribed under Section 133 of Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.
• 1. We conducted our review in accordanct: with the Standard on Review Engagement {SR~) :;;tF1A" ;~ _ 2410 "Review of Interim Financial Information Performed by the Independent Au!1f,rol \ ~~ . ' # l;i I :(U-1 , .. ..... •o ' ~ i \ q ,_ .

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, 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.

• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with applicable Indian Accounting Standards 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,including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. The Statement includes the result of the following entities:

A) List of Joint Ventures:

• (1) RIN MOIL Ferro Alloys Private Limited
• (2) SAIL and MOIL Ferro Alloys Private Limited

6) Other Matters:

• I. We did not review the financial results of the two joint ventures included in the consolidated unaudited financial results.
• II. The unaudited consolidated financial results include interim financial results/ financial information in respect of two joint ventures which have not been reviewed by any auditors. These un-reviewed interim financial results/ financial information have been approved and furnished to us by the parent's management and our conclusion on the statement, in so far as it related to the affairs of the aforesaid joint ventures, is based solei on \. M.d4, such un-reviewed interim financial results/ financial information · =------ ...

. . ~

Ill. According to information and explanation given to us by the parents management, these un-reviewed interim financial results/ financial information of the aforesaid joint ventures included in these unaudited consolidated financial results, are not material to the group.

Our conclusion to the statement is NOT MODIFIED in respect of the above matter.

For DEMBLE RAMANI & CO.

Place New Delhi Date 30th January, 2020

Mem No. : 030537 FRN : 102259W UDIN: 20030537AAAAAD7396