MOIL Limited — Interim / Quarterly Report 2021

Nov 10, 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/ Date: 10.11.2021

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

Dear Sir,

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

Sub : Outcome of the meeting of Board of Directors of the Company held on 10.11.2021 Stock Code: NSE: MOIL BSE: 533286 ISIN: INE490G01020

Please refer to our letter dated 02.11.2021. In this connection, it is to inform that the Board of Directors of the Company, in their meeting held today, has approved:

1. Un-audited financial results of the Company for the quarter ended on 30th September, 2021

We are attaching herewith a copy of the approved results along with the Limited Review Report of the Auditors (Annexure A). We are also arranging publication of results in new papers, as per SEBI (LODR) Regulations 2015.

2. Buy Back of Fully paid Equity Shares

Approved the proposal to buyback of not exceeding 3,38,42,668 (Three Crore Thirty Eight Lac Forty Two Thousand Six Hundred Sixty Eight) equity shares of face value of Rs.10/- each of the Company (representing 14.26% of the total number of fully paid-up equity shares in the paid-up share capital of the Company) at a price of Rs.205/- (Rupees Two Hundred Five only) per equity share (the "Buyback Offer Price") payable in cash for an aggregate consideration not exceeding Rs. 693,77,46,940 (Rupees Six Hundred Ninety Three Crore Seventy Seven Lac Forty Six Thousand Nine Hundred Forty only) (the "Buyback Offer Size"), being 25% of the aggregate of fully paid-up share capital and free reserves as per the audited standalone financial statements of the Company, for the financial year ended March 31, 2021 (the last audited standalone financial statements available as on the date of board meeting recommending the proposal of the Buyback) and is within the statutory limits of 25% (Twenty Five Percent) of the aggregate of the fully paid-up share capital and free reserves under Shareholders approval route from all the equity shareholders of the Company, as on the record date, on a proportionate basis through a Tender Offer route in accordance with the Companies Act, 2013, the Companies (Management and Administration) Rules, 2014, the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 (the "Buyback"), subject to the approval of the shareholders of the Company by way of a special resolution through Postal Ballot and all other applicable statutory approvals. The Buyback Offer Size does not include any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India, advisors fees, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.

The pre-buyback shareholding pattern of the Company as on Friday, 5 th November, 2021 is enclosed as Annexure B to this letter.

Meeting Started at 11:30 a.m. and Concluded at 3.55 p.m.

Thanking you, Yours faithfully,

For MOIL Limited

(Neeraj Dutt Pandey) Company Secretary cum Compliance Officer

Encl.: As above

CIN : L99999ME1962GOI012398

Statement of u n-audited financial r esults for the q u arter and ha lf year en ded 30th September, 2021

(t in lakhs) (Prepa red in Compliance with lndlon Accountinl Standards (I NO AS))
Sr.	Particulars For quarter ended For the half year e nded			For the
No.							financia l
							year en ded
						30-09-2021 30-06-2021 30-09-2020 30-09-2021 30-09-2020 31-03-2021
		Unaudited	Unaudited	Una udited	Unaudited	Unaudited	Audited
1	(a) Revenue from operations	31173.19	29332.35	30720.12	60505.54		117737.77
	(b) Olher income	2235.75	2005.57	2600.10	432 1.32	45953.60 5172.04	10247.57
	Tota l income	33408.94	31417.92	3 3320.22	64826.86	51125.64	127985.34
	2 Expenses
	(a) Cost of materials consumed	384.87	312.D2	448.07	696.89	458.34	1357.21
	(b) Purchase of stock-in-trade	0.00	0.00	0.00	0.00	0.00	0.00
	(c) Changes In Inventories of finished goods, stock in trade and work-in-process	099.59	1197.50	11 049.29	2097.09	5 136.66	6709.74
	(d) Employee benefits expense	11 653.61	11215.91	10453.81	22869.52	21320.05	44435.04
	(e) Finance costs	0.00	0.00	0.00	0.00	0.00	0.00
	(f) Depreciation and amortisation expense	2498.69	2374.64	2396.54	4073.33	4585.11	9917.49
	(g) Other expenses	1011 7.70	8230.29	Ill 07.97	18347.99	1354fl.99	36553.63
	Total expenses	25554.46	23330.36	32455.68	48884.82	45049.15	98973.91
	3 Profit/ (loss) befor e exceptiona l items a nd t ax [1 - 2]	7854.48	8087.56	864.54	15942.04	6076.49	29011.43
	4 Excep tiona l items	0.00	0.00	0.00	0.00	5000.00	5000.00
	(3- 41 5 Profit/ (loss) before tax	7854.48	8087.56	864.54	15942.04	1076.49	24011.43
	6 Tax expense (a) Current tax	2110.38	2059.34	283.47	4169.72	368.73	6483.10
	b) Deferred tax	-279.46	-151.34	-152.00	-430.80	-2 13.31	-134.74
	Total tax expense	1830.92	1908.00	131.4 7	3738.92	155.42	6348.36
	7 Net profit/ (loss) for the period fr om continuing ope ra tion [5 - 6]	60 23.56	6 179 .56	733.0 7	1220 3.1 2	921.07	176 63.07
	8 Extraordinary items (Net of tax expense)	0.00	0.00	0.00	0.00	0.00	0.00
	9 Net profit/ (loss) for the period [7 - 8)	6023.56	6179.56	733.07	12203.12	921.0 7	17663.0 7
	10 Other comprehensive In come
	A (I) Items that will not be reclassified to profit or loss (II) income tax relating to items that will not be reclassified to profit or loss	-3 13.01	-312.49	120.06	-625.50	526.99	1447.91 -406.14
	8 (i) Items that wi ll be reclassified to profit or loss	-78.03 0.00	-78.02 0.00	-31.25 0.00	-156.05 0.00	-136.86 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
		-391.04	-390.51	89.61	-781.55	390. 13	1041.77
	11 Total Comprehensive Income for the period after taxes [9 + 10	5632.52	5789.05	822.68	11421.57	1311.20	18704.84
	12 Paid-up equity share capital lFace value of share ~ 10 each)	23732.79	23732.79	23732.79	23732.79	23732.79	23732.79
	13 Other equity						258257.32
	14 Earnings pe r sha re from continuing ope ra tion
	(a) Basic (f I 0 each )	2.54	2.60	0.31	5.14	0.39	7.44
	(b) Diluted (f 10 each l	2.54	2.60	0.31	5.1 4	0 .39	7.44

Statement or assets and liabilities

			(fin lakhs)
Sr	Particulars	As at	As at
No			30-09-2021 31-03-2021
		Unaudited	Audited
	1 ASSETS
	Non-current assets
	(a) Property, Plant and Equipment	64639.23	65629.37
	(b) Capital work-In-progress	23337.93	20089.78
	(c) Investment Property	0.00	0.00
	(d) Other Intangible assets	561.59	661.87
	(e) Intangible assets under development	167.51	166.85
	(I) Financial Assets
	(i) Investments	1.29	1.29
	(ii) Trade receivables	0.00	0.00
	(iii) Loans	116.02	128.47
	(iv) Others	783.96	2392.60
	(g) Deferred tax assets (Net)	21 65.16	1734.37
	(h) Other non-current assets	13363.85	13957.15
	Sub-total - Non-current assets	105136.54	104761.83
	2 Current assets
	(a) Inventories	9416.02	11008.16
	(b) Financial Assets (i) Investments	24286.82	32452.13
	(ii) Trade receivables	20999.54	22655.05
	(iii) Cash and cash equivalents	61121.84	500.83
	(iv) Bank balances other than (iii) above	111356.73	157554.14
	(v) Loans	349.26	361.76
	{vi) Others	0.00	0.00
	(c) Current tax assets (Net)	265.73	0.00
	{d) Other current assets	8506.89	9738.18
	Sub-total -Current assets	236302.83	234270.25
	TOTAL- ASSETS {1+2)	341439.37	339032.08
	EQUITY AND LIABILITIES
	1 Equity
	(a) Equity Share capital	23732.79	23732.79
	(b) Other Equity	258049.82	258257.32
	Sub-total - Equity	281782.61	281990.11
	Liabilities 2 Non-current lia bilities
	(a) Financial Liabilities
	Borrowings (i)	0.00	0.00
	(ii} Trade payables	0.00	0.00
	(iii) Other fi nancial liabilities (other than those specified)	0.00	0.00
	(b) Provisions	5613.78	5552.77
	tc) Other non-current liabilities	1412.13	1404.97
	Sub-total - Non-current liabilities	7025.91	6957.74
	3 Current liabilities
	(a) Financial Liabilities
	(i) Borrowings	0.00	0.00
	(ii) Trade payables	3007.95	2898.06
	(iii) Other financial liabilities	9997.83	10704.83
	(b) Other current liabilities (c) Provisions	3472 7.49 4897.58	310BO.n
	(d) Current Tax Liabilities (Net)	0.00	4055.19 1344.62
	Sub-total -Current liabilities	52630.85	50084.23
	TOTAL - EQUITY AND LIABILITIES (1+2+3)	341439.37	339032.08

Segment·wlse revenue, results for the quarter and half year ended 30th September,2021 and assets and liabilities as on that date.

Sr. No.	Particulars		For quarter ended			For the half year ended
		Unaudited	Unaudited	30-09·2021 30:06·2021 30·09·2020 30·09·2021 30·09·2020 Unaudited	Unaudited	Unaudited	year ended 3 1·03·2021 Audited
	1 Segment revenue
	(a) Mining products	28418.07	27402.67	28004.57	55820.74	42255.12	108617.80
	(b) Manufactured products	3030.81	2159.37	3383.32	5190.18	4110.54	10292.47
	(c) Power	542.20	579.31	445.12	1121.51	902.87	1643.66
	Sub-total	31991.08	30141.35	31833.01	62132.43	47268.53	120553.93
	I ( · ) Inter-segment revenue	817.89	809.00	1112.89	1626.89	1314.93	2816.16
	Gross salesflncome from operations	31173.19	29332.35	30720.12	60505.54	45953.60	117737.77
	2 Segment results (Prollt/(·}loss before exceptlonalltems,tax and Interest)
	(a) Mining products	4126.42	5054.07	·2092.51	9180.49	293.30	16891.99
	(b) Manufactured products	1163.29	551.97	141.78	1715.26	131.11	1078.90
	(c) Power	329.02	395.95	215.17	724.97	480.04	792.97
	Sub-total	5618.73	6001.99	· 1735.56	11620.72	904.45	18763.86
	lr +) Other unallocable Income (net of unallocable expenditure)	2235.75	2085.57	2600.10	4321.32	5172.04	10247.57
	Profit from ordinary activities before exceptional items and tax	7854.48	8087.56	864.54	15942.04	6076.49	29011.43
	3 Segment assets
	(a) Mining products	91779.00	91390.86	89758.34	91779.00	89758.34	91685.28
	(b) Manufactured products	3875.37	3514.57	4752.56	3875.37	4752.56	3566.89
	(c) Power	7696.90	7841.39	8272.70	7696.90	8272.70	7985.88
	(d) Unallocated	238088.10	239585.03	224180.93	238088.10	224180.93	235794.03
	Total			341439.37 342331.85 326964.53 341439.37		326964.53	339032.08
	4 Segment liabilities
	(a) Mining products	36488.48	34501.63	29612.00	36488.48	29612.00	33271.40
	(b) Manufactured products	2034.58	1190.39	1332.55	2034.58	1332.55	1744.12
	(c) Power	1180.88	1351.81	1259.91	1180.88	1259.91	1323.2 1
	(d) Unallocated	19952.82	17508.86	24230.28	19952.82	24230.28	20703.24
	Total	59656.76	54552.69	56434.74	59656.76	56434.74	57041.97
	Notes :
	(I) The above results, reviewed by the Audit Comminee, have been approved by the Board of Directors in its meeting held on I Oth November,2021 and have been reviewed by statutory

(2) Both turnover and the profit were affected in the previous corresponding half year due to Covid· I 9 pandemic and lockdown in Apr-May'20 and periodical quarantining of employees in Apr-June'21

(3) information about investor complamts for the quaner : Opening· Nil. received during the quaner -3. resolved during the quaner -2 and pending as at 30.09.202 I . I.

(4) Previous period's figures have been re!,'l'Oupedlreclassified, wherever necessary to make them comparable. The figures for the quaner ended 30th September,202 I are balancing ligures between the unaudited of halfyear and reviewed figures upto the first quaner of the financial year.

For MOIL Limited, For M/s Demble Ramani & Co.,

MOIL LIMITED ⁴ STANDALONE STATEMENT OF CASH FLOWS

Particulars
	As at t he end of previous reporting half year 30th		As at the end of previous reporting half year 30th
				6076.49
				0.00
				6076.49
Profit on redemption of mutual fund (c)
(e) Exceptional items
(f) Deductions from plant, propen y and equipments	8. 12
				-4520.02
Operating Profits before working capital changes		17082.78		1556.47
(d) (lncrease)/Decrease in Non-current Assets
(t)
(g) Increase/( Decrease) in Trade & other payables	26 14.8 1
				13374.85
Cash generated from operations		23747.50		14931.32
Income tax paid (net)		-4 169.72		-368.73
I nco me tax paid for earlier years		0.00		0.00
Net cash from operating activities		19577.78		14562.59
8 Cash flow from investing ac tivities
(a) Interest received on fixed deposits	3 174.73		380 1.95
(b) Dividend on investment	0.00		0.00
(c) Profit on redemption of mutual fund	565.98		303. 18
(d) Acquisition of tangible and intangible assets and towards capital work in progress (net of sale proceeds)
I Net cash used in investing activities				363 10. 11
Dividend (•including dividend distribution tax) (a)
(c) Buy-back of shares	0.00
(d) Tax and expenses on buy-back of shares
Net cash used in fin ancing activities		- 11 620.80		-7108.44
Net increase/(-) decrease in cash and c.ash equivalents		6062 1.0 I		43764.26
				10499.63
Closing cash and cash equiva lents				54263.89
Net increase/(-) decrease in cash and cash equiva lents		6062 1.0 I		43764.26
	The statement of cash Oows is prepared using the indirect method, as given in lnd AS 7.		¥~
	A Cash flow from operating activities Profit/(Loss) before income tax from Continued Operations Discontinued Operations Profit before income tax including discontinued operations Adjustment for- (a) Interest on fixed deposits (b) Dividend on investment (d) Depreciation & Amortisation expense Adjustments for- (a) (lncrease)/Dccrease in lnvemories (b) (lncrease)/Dccreasc in Trade Receivables (c) (lncrease)/Decrease in Current Assets (e) (lncrease)/Decrease in Loans and advances Other comprehensive income (e) Investment in term deposits with more than three months (I) Investment in term deposits for 12 months (g) Deposits paid towards LCs and BGs (towards non fund based facilities (h) Current investmtml in liquid mutual fund c Cash flow from financing activities (b) Dividend accounts pending encashment of warrams E Opening cash and cash equivlllents	-3174.73 0.00 -565.98 4873.33 0.00 1592. 14 1655.51 965.56 593.30 24.95 -781.55 -7039.85 -78500.00 126322.87 -25.0 1 8 165.3 1 -11 629.07 8.27 0.00	Sent. 202 1 15942.04 0.00 15942.04 11 40.74 6664.72 52664.03 500.83 6 112 1.84	Sent. 2020 -380 1.95 0.00 -303.18 4585.11 -5000.00 0.00 5 160. 11 -3098.90 12352.77 -3904.77 -99.95 390. 13 2575.46 -5844.23 56863.82 0.00 -1 61.65 - 18652.96 -7 119.84 11.40 0.00 0.00

DEMBLE RAMANI & Co. CHARTERED ACCOUNTANTS

201, M. G.HOUSE, R. T. ROAD, CIVlL LINES, NAGPUR-440 00 1. PHONE: (07 12) 6603 630 I 631 I 632 E-mail: demblcramani a ,\'ahoo.co.in contact a:demb1cramani.com '----- / Website: "''·w.dembleramani.com

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 30th September 2021 ("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.

DEMBLE RAMANI & Co. CHARTERED ACCOUNT ANTS

201 , M. G.HOUSE, R. T. ROAD, CIVIL LINES, NAGPUR-440 001 . PHONE: (0712) 6603 630 I 631 I 632 E-mail: dembleramani@yahoo.co.in contact@dembleraman i .com Website: www .dembleraman i .com

• 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 proc;edures 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 RAMAN! & CO. Cha

---; CA ASHOK RAMAN! Partner Mem No. : 030537 FRN : 102259W UDIN- 21030537AAAACS4229

Place :New Delhi Date : lOth November 2021

Sr. No.	Category of Shareholders	No. of Shareholders	No. of Shares	% of Shareholding
1	Promoter and Promoter Group
	Indian:
	a) President of India	1	127783925	53.843
	b) Governor of Maharashtra	1	12132134	5.112
	c) Governor of Madhya Pradesh	1	12813840	5.399
	d) Foreign	0	0	0
	Sub Total (1)	3	152729899	64.354
2	Public
	Mutual Funds	11	5932738	2.500
	Alternative Investment Funds	0	0	0
	Foreign Portfolio Investors (Including FIIs)	56	11972077	5.045
	Financial Institutions / Banks	0	0	0
	Insurance Companies	6	24862247	10.4759
	Individuals	249483	35323245	14.8837
	Hindu Undivided Family	11781	1847873	0.7786
	Non Resident Indian	2718	1537590	0.6479
	Clearing Members	146	757509	0.3192
	Domestic Companies	701	2304399	0.971
	Foreign Nationals	0	0	0
	Investor Education and Protection Fund	1	40720	0.0172
	Trusts	16	19582	0.0083
	Sub Total (2)	264919	84597980	35.646
3	Non Promoter – Non Public	0	0	0
	Sub Total (3)	0	0	0
	Total (1+2+3)	264922	237327879	100