Munjal Showa Ltd. — Board/Management Information 2018

Nov 3, 2018

Regd. Office & Works : 9-11. Maruti Industrial Area. Gurugram - 122 015 (Haryana) INDIA E-mail : msladmin@mun]alshowa.net Website :www.munjalshowa.net Corporate Identity Number: L34101HR1985PLC020934. Pan No.: AAACM0070D Ph. : 0124-4783000. 2341001 Fax: 0124-2341359

E—MAIL

MSL/SECT/18/ November 03, ²⁰¹⁸

25th Floor, PJ. Towers, Exchange Plaza, C-1, Block-G Dalal Street, Mumbai-400 001 Bandra-Kurla Complex Security Code: 520043 Bandra (E), Mumbai —400 051

BSE Ltd National Stock Exchange of India Limited Security Code: MUNJALSHOW

Sub: Compliances under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations)

Re.: Outcome of Board Meeting held on November 03, 2018

Dear Sirs,

The Board of Directors at its meeting held today, viz. November 03, 2018, has considered and approved the unaudited financial results for the quarter and half year ended September 30, 2018.

A copy of the said Financial Results along with the Statement of Assets and Liabilities and Limited Review Report issued by the Statutory Auditor of the Company is enclosed.

Further, the Board has appointed Smt. Geeta Anand (DIN: 00078091) as an Additional and Independent Director, with effect from November 03, 2018 for ^a tenure of five years. In this regard, we wish to confirm that Smt. Geeta Anand is not disqualified/ debarred from being appointed to the office of Director by virtue of any order of SEBI or any other such authority. The disclosure pursuant to Regulation 30 of the Listing Regulations is enclosed as Annexure A.

The meeting of the Board of Directors commenced at 12.15 p. m. and concluded at—le7\ 031 p. m

Kindly take the aforesaid information on your records.

Thanking You.

For MUNJAL SHOWA LIMITEP/gHCM),

(SAU RABH AGRAWAL) {"3'\/^V Company Secretary +\"*-/E fir"

ITIUDJHI. SHOE/fllTD.

Regd. Office & Works : 9-11. Maruti Industrial Area. Qurugram - 122 015 (Haryana) INDIA E-mall : msladmin@mun]alshowa.net Website : www.munjalshowa.nat Corporate Identity Number: L34101HR1985PL6020934. Pan No.: AAACM007OD Ph. : 0124-4783000, 2341001 Fax: 0124-2341359

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.. Annexure A Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

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Name of the Director	SMT. GEETA ANAND
Director Identification Number	00078091
Date of Birth	18/01/1951
Gender	Female
Reason for change	Appointment
Date of of appointment&term appointment	Additional Smt. Geeta been has an as Anand, appointed Director the of will an' on the Board be She Company. Director in terms of Independent Non—Executive Companies tenure of Listing Regulations, with a Act and SEBI 5 years, to of at the shareholders next Annual subject approval General Meeting. The effective date of appointment is November 03, 2018.
Qualification	Graduation in Commerce
BrIef profile	Managing director of Smt. Geeta Anand, A G Industries Private Limited, is daughter of Late Mr. Brij Mohan Lall Munjal, Ex— of Chairman Hero A Industries Private Ltd. Motocorp G Limited has been promoted by her. She is Commerce graduate as first director of and joined A G INDUSTRIES PVT LTD in of of 1991. She has very rich experience more than 27 years auto components manufacturing industry. She is also actively engaged in CSR activities and her favorite is to empower girls.
Disclosure of relationships	Director of Smt. Geeta Anand is not related to any the
between Directors	Company.
Expertise in Specific functIonal'area	' t ofauto 27 years ts manufacturIngI 'nd us ry n e n compo
	A G Industries Pvt Ltd-Managing Director 1. AG Industries (Bawal) Private Limited-Director 2.
'» Directorships held in other companIes	and Innovation Centre-Director 3. AG Training
	AG. Premium Steerings 4. Private Limited and Mouldings Director
of Board Membership any Listed CompanIes as on date ,	MUNJAL SHOWA LIMITED w.e.f. 03/11/2018
Chairman/Member of the Audit Committee and Stakeholder Relationship Committee of the Company including Munjal Showa Limited as on date.	\ None ,(Trix
' fSh er 0 um e d m the ares N b h I Company as on date	7 3"— ~"\ Nil shares in Munjal Showa Limited 3:3:- .n,,,_A
	9' I XSL'K» " '.'~.

:- ....__"..-' Manufacturers of World Class Struts. Shock Absorbers, Front Forks. Gas Springs-Window Balancers in Collaboratlon wlth Showa Corporallon. Japan

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ITIUI'IJHI. SHUlllflDD.

Regd. Office & Works : 9-11. Maruti Industrial Area, Gurugram - 122 015 (Haryana) INDIA E-mail msladmin@munja|showa.net Website : www.munjalshowa.net : Corporate Identity Number: L34101HR1985PL0020934. Pan No.: AAACM0070D Ph. : 0124-4783000. 2341001 Fax: 0124-2341359

Extract of Statement of Unaudited Financial Results for the Second Quarter and Half Year ended September 30, 2018 (Rs. In Lakhs, except per share data) S. No Particulars 3 months Ended Year to date 3 months Figures ended 30.09.2018 30.09.2018 30.09.2017 (Unaudited) (Unaudited) (Unaudited) ¹ Total Income from operations 46964.16 91773.8 41943.79 ² Net Profit for the period before tax and exceptional items 2714.45 5105.59 2799.45 ³ Net Profit for the period before tax and after exceptional items 2714.45 5105.59 2799.45 4 Net Profit for the period after tax and after exceptional items 1903.64 3639.27 1998.26 ⁵ Total comprehensive income for the period (after tax) 1903.64 3639.27 1998.26 6 Equity Share Capital 799.93 799.93 799.93 7 Earnings Per Share (after extraordinary item/s)(of Rs. 2/- each) Basic: (In rupees) 4.76 9.10 5.00 Diluted: (In rupees) 4.76 9.10 5.00 Note:- Note: The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation ³³ of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 The filll format of the Quarterly Financial Results are available on We websites WWWnseindiacom and www.bseindia.com and on

Place : Gurugram Date : November 3, 2018

the Company' ^s website www.mun;alshowa.:1

of th e Board

Fain/TehalfW DIN: 00003491

ITIUDJHI. SflalllfllTD.

Regd. Office & Works : 9-11. Marutl Industrial Area. Gurugram - 122 015 (Haryana) INDIA E-mail : msladmin@munjalshowa.net Website : www.munjalshowa.net Corporate Identity Number: L34101HR1985PL0020934. Pan No.: AAACM0070D Ph. : 0124-4783000. 2341001 Fax: 0124-2341359

Statement of Unaudited Financal Results for the uarter and six months ended Se tember 30 2018
							(Rs. in Lakhs except per share data)
			Quarter Ended		Six Months Ended		Year Ended
° ' S N	'c" a" P rt' a I	September 30, 2018	June 30, 2018	September 30, 2017	September 30, 2018	September 30, 2017	March 31, 2018
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	1 Income
	(3) Revenue from Operations	46,564.66	44,239.42	41,527.32	90,804.08	84,438.00	161,545.28
	(b) Other Income	399.50	570.22	416.47	969.72	969.92	2,068.17
	Total Income	46,964.16	44,809.64	41,943.79	91,773.80	85,407.92	163,613.45
	2 Expenses
	(a) Cost of materials consumed	34,852.80	33,431.47	30,591.03	68,284.27	60,211.36	116,608.23
	(b) Change in inventories of finished goods and work-in-progress	90.24	(90.69)	(14.28)	(0.45)	29 1.00) (	(300.88)
	(c) Excise duty on sales	—	—	—	—	3,402.68	3,402.68
	(d) Employees benefits expenses	3,295.15	3,361.41	3,126.95	6,656.56	6,151.00	12,506.10
	(e) Finance Cost	6.04	0.71	0.98	6.75	8.17	14.93
	m Depreciation and amortisation expenses	672.11	669.93	728.27	1,342.04	1,442.47	2,824.46
	(g) Other expenses	5,333.36	5,045.67	4,711.38	10,379.03	9,185.35	18,017.70
	Total Expenses	44,249.71	42,418.50	39,144.34	86,668.22	80,110.04	153,073.22
	3 Profit before tax (2—3)	2,714.45	2,391.14	2,799.45	5,105.59	5,297.88	10,540.23
	4 Tax expense
	(3) Current Tax	968.00	889.25	809.59	1,857.25	1,490.00	3,110.23
	(b) Deferred Tax charge/(benefit)	(157.19)	(233.75)	(8.40)	(390.94)	45.47	(321.42)
	Total Tax Expenses	810.81	655.50	801.19	1,466.31	1,535.47	2,788.81
	5 Profit after tax (3-4)	1,903.64	1,735.64	1,998.26	3,639.27	3,762.41	7,751.42
	Other comprehensrve rncome/ (expense) lnnf nf tmrl	_		_	_	_	(130.52)
	7 Total comprehensive income (5+6)	1,903.64	1,735.64	1,998.26	3,639.27	3,762.41	7,620.90
	8 Paid-up equity share capital	799.93	799.93	799.93	799.93	799.93	799.93
	Face value of the share (Rs.)	2.00	2.00	2.00	2.00	2.00	2.00
	9 Total Reserves						56,162.32
	10 Earning Per Share (not annualised) (a) Basic (In Rupees)	4.76	4.34	5.00	9.10	9.41	19.38
		4.76	4.34	5.00	9.10	9.41	19.38
	(b) Diluted (In Rupees)

Notes

1. These results have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS 34 "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India.

ITIUDJHI. fllDlllfllTD.

Regd. Office & Works : 9-11. Maruti Industrial Area. Gurugram - 122 015 (Haryana) INDIA E-mail : msladmln@munjalshowa.net Website :www.munja|showa.net Corporate Identity Number: L34101HR1985PLC020934. Pan No.: AAACM0070D Ph. : 0124-4783000. 2341001 Fax: 0124-2341359

	Particulars	As at September 30, 2018	As at March 31, 2018
		Unaudited	Audited
	ASSETS
	Non-current assets
	la} Property, plant and equlpment	14,673.55	15,654.50
	(b) Capital work in progress	270.13	75.06
	(c) Intangible assets	124.96	70.35
	(d ) Financial assets
1	(i) Investments	3,992.00	486.38
	Ill] Loans	236.11	251.50
	liiil Other financial assets	313.67	275.33
	(e) Deferred tax assets( net)	411.90	20.96
	(f) Income tax assetlnet)	4,143.93	4,617.01
	(g) Other non-current assets	301.90	100.55
	Total Non-Current Assets	24,468.15	21,551.64
	Current assets
	{at} Inventories	7,528.81	6,315.79
	(b) Financial assets
	(i) Investments	21,196.73	23.91838
	(ii) Trade receivables	28,873.77	24,487.60
	IiiiJ Cash and cash equivalents	262.74	1,912.00
	(iv) Bank balances other thanliii) above	567.97	69.21
	(V) Loans	584.45	159.62
	(vi) Other financial assets	164.94
	{c) Other current assets	1,167.62	911.06
	Total Current Assets	60,347.03	57,778.53
	Total Assetsl1+2)	84,815.18	79,330.17
	EQUITY AND LIABILITIES
	ECIuitV
	{a} Equity share capital	799.93	799.93
	lb) Other equity	57,631.89	56,162.32
	Total Equity	58,431.82	56,962.25
	Liabilities Non-current liabilities
		303.31	293.18
	(a) Provisions (b) Other non-current liabilities	8.79
	Total Non Current Liabilities	312.10	302.97
	Current liabilities
	(a) Flnancial liabilities
	(i) Borrowings	796.38
	(ii) Trade payables
	Due to Micro and small enterprises	3,587.88	3,459.29
	Due to others	17,617.38	15,044.62
	(iii) Other financial liabilities	781.32	243.75
	lb) Other current liabilities	1,527.81	1,589.51
	(c) Provisions	1,760.49	1,727.78
	Total Current Liabilities	26,071.26	22,064.95
	Total Equity and Liabilitiesl1+z+3I	84,815.18	79,330.17
	3. In accordance with the requirements of Ind AS, Revenue from Operations for the quarter ended September 30,
	2017, for the quarter ended June 30, 2018 and for the quarter and half year ended September 30, 2018 is net of'
	goods and services tax (GST) introduced w.e.f. July 1, 2017. However, Revenue from Operations for half year ended

wheeler and four wheeler industry, the disclosure requirements of Indian Accounting standard (Ind AS-108) "Operating segments" are not applicable.

1. The above results for the quarter and half year ended September 30, 2018 have been reviewed and recommended

by the Audit Committee meeting held on November 3, ²⁰¹⁸ and approved by the Board of directors in their meeting

held on November 3, 2018. These results have been subjected to limited review by the statutoryr auditors. 6. The above results of the Company are available on the company's website www.munjalshowa.net and also on www.bseindia.com and www.mseindia.com.

For an n be alf of the Board 55H CHANDER MUNJAL Gurugram, Nouember'3',_ DIN: 00003491

Manufacturers of World Class Struts, s'h'dbkhgorbfrfigront Forks. Gas Springs-Window Balancers in Collaboration with Showa Corporation, Japan

M _ .,

Chartered Accountants DEIOItte 7th Floor, Building 10, Tower ^B . DLF Cyber City Complex Hasklns & Sells LLP Gurugram

WW - 122 002 Haryana, India

Tel: +91 124 679 2000 Fax: +91 124 679 2012

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF MUNJAL SHOWA LIMITED

1. We have reviewed the accompanying Statement of Unaudited Financial Results of MUNJAL SHOWA LIMITED ("the Company") for the quarter and half year ended September 30, ²⁰¹⁸ ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation ³³ ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard ³⁴ "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section ¹³³ of the 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 the Statement based on our review.

• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) ²⁴¹⁰ 'Review of Interim Financial Information Performed by the Independent Auditor of the 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 Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides 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 stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid 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 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. ¹ 17366W/W-100018)

laid ep Bhargava Partner

GURUGRAM, November 3, 2018 (Membership No. 090295)