NDR Auto Components Limited — Interim / Quarterly Report 2022

Oct 26, 2021

"NDR AUTO COMPONENTS LIMITED

Corporate office: Plot No.1, Maruti Joint Venture Complex, Gurugram, Haryana-122015 CIN: L29304DL2019PLC347460 Website: www.ndrauto.com Email id: contact@nacl.co.in Phone No.: 9643339870-74

"NDRAUTO	COMPONENTSLIMITED
CIN: L29304DL2019PLC347460	Corporate office: Plot No.1, Maruti Joint Venture Complex, Gurugram, Haryana-122015Website: www.ndrauto.com
Email id: contact@nacl.co.in26'» October, 2021	Phone No.: 9643339870-74
BSE Limited	National Stock Exchange of India Ltd.
Corporate Relationship Deptt.	Exchange Plaza, Plot No.C/1, G-Block Bandra
PJ Towers, 25th Floor, Dalal Street,	Kurla Complex, Bandra (East),Mumbai
Mumbai — 400 001	— 400 051.
Scrip Code: 543214	Trading Symbol: NDRAUTO

SUB: OUTCOME OF THE MEETING OF BOARD OF DIRECTORS

The Board of Directors of the Company at its meeting held on 26" October, 2021 inter alia has considered and transacted the following business:

• Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has considered and approved the Unaudited Standalone and Consolidated Financial Results for the quarter and six months ended on 30" September, 2021 and has noted the Limited Review Report of Auditors thereon, enclosed as Annexure.
• Approved the reconstitution of Nomination and Remuneration Committee to bring it in line with latest amended SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board meeting commenced at 11:35 a.m. and concluded at 12:40 p.m. You are requested to take the same on record.

Thanking You, Yours Faithfully, For NDR Auto Components Limited

DIN 02154950

Registered office: Level-5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IG! Airport, New Delhi 110037 Tel.: +91 011-6654 4976

NDR Auto Components Limited Regd. Office : Level - 5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IGI Airport, New Delhi - 110037 CIN: L29304DL2019PLC347460 WEBSITE: www.ndrauto.com; E-mail: cs@ndrauto.com, Phone: +91 11 66544976

		NDR Auto Components Limited
	Regd. Office : Level - 5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IGI Airport, New Delhi - 110037WEBSITE: www.ndrauto.com; E-mail: cs@ndrauto.com, Phone: +91 11 66544976	CIN: L29304DL2019PLC347460
	STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2021						(Rs. in lakhs, except per share data)
S. No.	Particulars	30-09-2021	Quarter Ended30-06-2021	30-09-2020	Six Months Ended30-09-2021	30-09-2020	Year Ended31-03-2021
1	Income:	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	Revenue from operationsOther Income	5,337.71239.66	4,414.43149.17	2,849.25178.57	9,752.14388.83	3,134.81320.67	11,412.90829.97
2	Total incomeExpenses	5,577.37	4,563.60	3,027.82	10140.97	3455.48	12,242.87
	a) Cost of materials consumedb) Changes in inventories of finished goods and work-in-progressc) Employee benefits expense	4,082.77(94.15)216.14	3,363.70(89.61)203.33	2,151.72(11.69)87.56	7,446.47(183.76)419.47	2,366.2025.87163.95	8,471.7716.95547.68
	d) Finance costse) Depreciation and amortisation expensef) Other expenses	9.62175.00797.92	9.85163.61669.93	0.45116.35345.98	19.47338.611,467.85	1.07217.5648144	12.10497.421,740.12
34	Total expensesProfit/(loss) before tax (1-2)Tax expenses	5,187.30390.07	4,320.81242.79	2,690.37337.45	9,508.11632.86	3,256.09199.39	11,286.04956.83
	a) Current taxb) Deferred tax expense/( credit)Total tax expense	92.74(12.78)79.96	75.45(26.12)49.33	51.34(3.39)47.95	168.19(38.90)129.29	51.34(4.97)46.37	263.28(0.58)262.70
56	Profit/(loss) for the period (3-4)Other comprehensive income/(loss), net of income tax	310.11	193.46	289.50	503.57	153.02	694.13
7	Items that will not be reclassified to profit & loss in subsequent periods,net of taxTotal comprehensive income/(loss) for the period, net of tax (5+6)	1.17311.28	11s194.61	(4.87)284.63	239505.89	(9.68)143.34	463698.76
8910	Paid-up equity share capital (face value of Rs.10/- per share )Other equity (reserve) as shown in the audited balance sheetEarning per equity share (EPS)* (nominal value of Rs.10/- each) :a) Basic ( Rs.)	594.635.22	594.633.25	594.634.87	594.638.47	594.632.57	594.6313,366.8011.67

For and on behalf of Board of Directors

Digitally signed by PRANAV PRANAV RELAN tean - Date: 2021.10.26 12:13:21 +05'30'

NDR Auto Components Limited Regd. Office : Level - 5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IGI Airport, New Delhi - 110037 CIN: L29304DL2019PLC347460 WEBSITE: www.ndrauto.com; E-mail: cs@ndrauto.com, Phone: +91 11 66544976

		in lakhs
	As at	As at
	ber 2021	202131st
TS
1 Non-current assets
&	3,400.07	3,651.05
aequi
work inbital	1,100.82	322.42
Right-of-use assetsc)	82.91	450.64
d) Intangible assets	18.60	3.36
¢) Financial assets
1) Investments	165.50	165.50
ii) Other financial assets	79.28	52.49
Other non-current assets	701.75	399.01
Non-current tax assets	1.81	7.36
h) Deferred tax assets (net	162.74	124.62
Total non-current assets	713.48	5,176.45
2 Current assets
a) Inventories	1,546.36	1,238.83
b) Financial assets
1) Trade receivables	1,923 32	3,110.56
ii) Cash and cashequivalents	22.91	389.73
iii) Other bank balances	6,238.00	8,159.00
iv) Other financial assets
-Loans	1,000.00	-
-Others financial assets	174.98	149.74
c) Other current assets	787.76	209.81
d) Asset held for sale	-	-
Total current assets	11,693.33	13,257.67
TOTAL ASSETS	17,406.81	18,434.12
AND LIABILITIESE
shareaitycapi	594.63
b) Otherequi	13,813.23
Total	14,407.86
2 LIABILITIES
Non- Current liabilities
a)Financial liabilities
Lease liabilities
bTotal Non-current liabilities
Current liabilities
a) Financial liabilities
1) Lease liabilities		26.41
1i)Trades
-Total outstanding dues of micro enterprises and small	140.13	259.83
eni
- Total outstanding dues of creditors other than micro enterprises	2,008.94	3,310.90
and smalli
ii) Other financial liabilities	249.79	161.33
b) Other current liabilities	377.61	37.36
c) Provisions	144.08	120.41
Total current liabilities	55	3,916.24
TOTAL EAND LIABILITIES	17,406.81	18,434.12

STANDALONE UNAUDITED STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2021

For and on behalf of Board of Directors

PRANAV RELAN Distlvsenesbreaanavacian bate 2021 1028 12134540550

NDR Auto Components Limited Regd. Office : Level - 5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IGI Airport, New Delhi - 110037 CIN: L29304DL2019PLC347460

WEBSITE: www.ndrauto.com; E-mail: cs@ndrauto.com, Phone: +91 11 66544976

STANDALONE STATEMENT OF UNAUDITED CASH FLOW FOR PERIOD ENDED SEPTEMBER 30, 2021

	Period End	Period Ended
	30th September 2021	30th September 2020
		Un
Profit before income tax		199.39
ion and amortization		217.56
on sale offit
Finance cost		0.04
Interest on lease li		1.03
Interest income		275.67
Dividend Income		45.00
Income on termination of lease under Ind-AS-116
required written backLiabilities noer
before wchi		97.35
inwAdforrease)/decrease in inventories	307.53	53.47
(Increase)/decrease in trade receivables	1,187.24	(1,077.77)
rease)/decrease in other financial assets	1,103.46	103.84
rease)/decrease in other assets	577.95	38.43
decrease) in tradeIncs	1,360.95	601.50
decrease) in other liabilitiesInc	340.25	50.03
decrease) in other financial liabilitiesInc	1.50	22.35
decrease) inInci	34.05	3.11
Cashted fromactivities	1,201.7
Income taxpaid (net of refunds	162.64	13.18
Net cash flow from/ (used inactivities	401	73
andPurchase ofadvances net ofcreditors	1,071.20	36.94
Proceeds from sale of	9.71
Fixedmade duringthe	6,403.00	6,168.00
its
Fixedmaturedtheitsduring	324.00	163.30
Dividend received from non current investment	57.00	45.00
Interest income received	172.94	324.62
Net cashused inactivities	1,089.45	98
Dividendsharespaid on
equityleasent of
principalnt of interest on lease li
Other finance costpaid
Net cash fromactivities/(used in	1
Net increase in cash and cashalents(A+	366.82
pursuan
arrangments	389.73
Cash and cashalents at the end of the	22.91

Note: The cash flow statement has been prepared under the indirect method as set out in Indian Accounting Standard (IND AS) 7 statement of cash flows.

For and on behalf of Board of Directors

Digitally signed by PRANAV PRANAV RELAN sean Date: 2021.10.26 12:14:07 405'20'

Pranav Relan Whole Time Director

Place: Date: Gurugram 26th October, 2021

NOTES TO THE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER 2021

• 1The above standalone financial results of NDR Auto Components Limited ("the Company") have been prepared in accordance with Indian Accounting Standards (IND-AS) as prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies(Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Rules, 2016 and relevant amendment rules thereafter.
• The Sales/Purchase have been recognised based on contract price with the customers/vendors which are subject to escalations and de-escalations basis annual price revision. The Company estimated such escalations and de-escalations on best estimate basis and these will be formalised by year end.
• The Company has only one reportable business segment as it manufactures and deals only in auto component parts in terms of Ind AS 108 "Operating Segment". Further, the Company operates only in one geographical segment -India. All the assets of the Company are located in India. The chief operating officer and chief financial officer (chief operating decision maker) monitors the operating results as one single segment for the purpose of making decisions about resource allocation and performance assessment. Accordingly, there are no separate reportable segments as per IND-AS 108, "Operating Segment" prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.
• Consequent to the uncertainties caused due to continuation of Covid-19 pandemic, the Company has considered the possible effects that may result from this pandemic in the preparation of these financial statements and has done a detailed assessment for carrying amount of financial and non-financial assets and does not anticipate any impairment to these assets. Also, the management does not see any risks in the Company's ability to continue as a going concern and meeting its liabilities as and when they fall due. The business is resuming ever since the restrictions are lifted. The situation though is changing rapidly giving rise to inherent uncertainty around the extent and timing of the potential future spread of Covid-19 and due to which the Company will continue to closely monitor any material changes to future economic conditions, if any.
• The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
• During the current quarter, the Company has paid final dividend of Re 1/- per equity share of the face value of Rs. 10 each pertaining to the financial year 2020-21 amounting to Rs. 59.46 lakhs after approval by shareholders in Annual General Meeting held on 22.09.2021. The dividend amount has been adjusted from reserves accordingly.
• The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 26th October 2021. The above financials results have been subjected to limited review by the statutory auditors of the Company in accordance with the Standard on Review Engagements (SRE) 2410 issued by the Institute of Chartered Accountants of India and they have issued an unmodified report on the aforesaid results.

For and on behalf of Board of Directors

Di sh d by PRANAV RELAN. PRANAV RELAN oateczbattozs 12142010530

SS KOTHARI MEHTA & COMPANY" CHARTERED ACCOUNTANTS

Independent Auditor's Limited Review Report on Quarter and Six Months ended Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors NDR Auto Components Limited

• 1. We have reviewed the accompanying statement of unaudited Standalone financial results of NDR Auto Components Limited ("the company") for the quarter and six months ended on September 30, 2021 ("the Statement"), prepared and submitted by the Company pursuant to the requirements of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
• 1. The preparation of the Statement 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, and rules thereunder, requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other accounting principles generally accepted in India, is the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to express a conclusion 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 of interim financial information consists of making inquiries, primarily or persons responsible for financial and accounting matters, and 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 of unaudited Standalone financial results prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard (Ind AS) prescribed under section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

5. Emphasis of Matter

We draw attention to note no. 4 of the accompanying financial results, which describe the management's assessment of the impact of COVID-19 pandemic on financial performance, and ever since the restrictions are lifted the business is gradually resuming, however real impact of assessment will depend on future economic conditions and developments.

Our conclusion is not modified in respect of this matter. eee

1. The comparative financial information of the company for the quarter and six months ended September 30, 2020 as reported in these financial results were reviewed by the predecessor auditor who expressed unmodified conclusion on those financial results on November 30, 2020

CAME @

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For § S Kothari Mehta and Company (Chartered Accountants) Firm Reg. No. 000756N

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(Neeraj Bansal) a x/ (Partner) hy &/ te 3 Membership No. 095960 eq acest UDIN: 2109 5960 AAAAKT &150 é

Place: Delhi Date: 26.10.2021

NDR Auto Components Limited Regd. Office : Level - 5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IGI Airport, New Delhi - 110037 CIN: L29304DL2019PLC347460 WEBSITE: www.ndrauto.com; E-mail: cs@ndrauto.com, Phone: +91 11 66544976

	Regd. Office : Level - 5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IGI Airport, New Delhi - 110037	NDR Auto Components Limited
	STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2021	CIN: L29304DL2019PLC347460WEBSITE: www.ndrauto.com; E-mail: cs@ndrauto.com, Phone: +91 11 66544976					(Rs. in lakhs, except per share data)
S. No.	Particulars		Quarter Ended		Six Months Ended		Year Ended
		30-09-2021(Unaudited)	30-06-2021(Unaudited)	30-09-2020(Unaudited)	30-09-2021(Unaudited)	30-09-2020(Unaudited)	31-03-2021(Audited)
1	Income:Revenue from operations	5,337.71	4,414.43	2,849.25	9,752.14	3,134.81	11,412.90
	Other IncomeTotal income	182.66§,520.37	149.174,563.60	133.572,982.82	331.8310083.97	275.673410.48	T129712,185.87
2	__ Expenses
	a) Cost of materials consumedb) Changes in inventories of finished goods and work-in-progress	4,082.77(94.15)	3,363.70(89.61)	2,151.72(11.69)	7,446.47(183.76)	2,366.2025.87	8,471.7716.95
	c) Employee benefits expensed) Finance costs	216.149.62	203.339.85	87.560.45	419.4719.47	163.951.07	547.6812.10
	e) Depreciation and amortisation expense	175.00	163.61	116.35	338.61	217.56	497.42
	f) Other expensesTotal expenses	797.925,187.30	669.934,320.81	345.982,690.37	1,467.859,508.11	481.443,256.09	1,740.1211,286.04
3	Share of profit/(loss) of associate	45.36	14.67	93.63	60.03	(208.94)	133.06
45	Share of profit/(loss) of joint ventures_ Profit/(oss) before Tax (1-2+3+4)	2741405.84	27.72285.18	37.30423.38	55.13691.02	3.26(51.29)	82.971,115.86
6	Tax expensesa) Current tax	92.74	75.45	40.01	168.19	40.01	263.28
	b) Deferred tax expense/( credit)Total tax expense	(12.78)79.96	(26.12)49.33	(3.39)36.62	(38.90)129.29	(4.97)35.04	(0.58)262.70
78	Profit/(loss) for the period (5-6)Other comprehensive income/(loss):	325.88	235.85	386.76	561.73	(86.33)	853.16
	Items that will not be reclassified to profit and loss in subsequent periods
	a) Gains/(losses) on defined benefit plans	1.56	1.54	(6.63)	3.10	(12.93)	6.19
	b) Gains/(losses) on share of other comprehensive income of associate and Jointventures	0.57	0.57	(1.28)	1.14	0.27	2.78
	c) Income tax relating to items that will not be reclassified to profit and lossTotal other com prehensive income/(loss) for the period	(0.39)1.74	(0.39)1.72	3.18(4.73)	(0.78)3.46	3.18(9.48)	(2.12)6.85
9	Total comprehensive income/(loss) for the period, net of tax (7+8)10 = Paid-up equity share capital (face value of Rs.10/- per share )	327.62504.63	237.57504.63	382.03504.63	565.19504.63	(95.81)504.63	860.01594.63
1112	Other equity (reserve) as shown in the audited balance sheet Earning per equity share (EPS)* (nominal value of Rs.10/- each) :						17,222.82

PLACE: Gurugram DATE: 26th October, 2021

For and on behalf of the Board of Directors

PRANAV

RELAN

Digitally signed by PRANAV Date: 2021.10.26 12:10:10 +05'30'

Pranav Relan Whole Time Director

NDR Auto Components Limited

Regd. Office : Level - 5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IGI Airport, New Delhi - 110037

CIN: L29304DL2019PLC347460

WEBSITE: www.ndrauto.com; E-mail: cs@ndrauto.com, Phone: +91 11 66544976

CONSOLIDATED UNAUDITED STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2021

AsatAs at31st March 202130th September 2021ETS1 Non-current assets3,400.073,651.05&arwork in322.421,100.82bital450.6482.92Right-of-use assetsc)18.60ible assets3.36e) Financial assets1) Investments3,926.684,021.52ii) Other financial assets79.2852.49Other non-current assets701.75399.01Non-current tax assets7.361.81h) Deferred tax assets (net162.74124.62Total non-current assets9,474.67479.2 Current assetsa) Inventories1,546.3683b) Financial assets1) Trade receivables1,923.323,110.56ii) Cash and cash22.91389.73equivalentsiii) Other bank balances008,159.00iv) Other financial assets-Loans1,000.00-174.98149.74-Others financial assetsc) Other current assets787.76209.81Asset held for sale--Total current assets11,693.337.67TOTAL ASSETS67.9914AND LIABILITIESE594.63shareaitycapib) Other17,574.41iTotal18,169.042 LIABILITIESNon- Current liabilitiesFinancial liabilitiesLease liabilitiesProvisionsTotal Non-current liabilitiesCurrent liabilitiesa) Financial liabilities1) Lease liabilities26.41ii)Tradees-Totaldues of micro enterprises140.13259.83and small enterpriing- Total outstanding dues of creditors other than micro enterprises and small2,008.943,310.90e249.79iii) Other financial liabilities161.33b) Other current liabilities377.6137.36c) Provisions144.08120.41Total current liabilities6.24472.69Total liabilitiesTOTAL EAND LIABILITIES14	in	share data

For and on behalf of the Board of Directors

Digitally signet by PRANAY PRANAV RELAN een Date: 2021.10.26 1211.18 405'30

NDR Auto Components Limited Regd. Office : Level - 5, Regus Caddie Commercial Tower, Hospitality District Aerocity, IGI Airport, New Delhi - 110037

CIN: L29304DL2019PLC347460

WEBSITE: www.ndrauto.com; E-mail: cs@ndrauto.com, Phone: +91 11 66544976

CONSOLIDATED STATEMENT OF UNAUDITED CASH FLOW FOR PERIOD ENDED SEPTEMBER 30, 2021

in] as otherwise stated

A

B.

Cc

	Period Ended30th September 2021]	Period Ended30th September 2020
		nh
Profit before income tax		51.29
Share ofof associateprofit/(loss)		208.94
Share ofof joint venturesprofit/(loss)		3.26
iation and amortization		217.56
t andty/loss on sale ofequi		-
Finance cost		0.04
Interest on lease liabili		1.03
Interest incomeExcess provision no longer		275.67
writtenbacired		-
liabilities written backSs		-
rofit before wch		97.35
ents for chin w
decrease in inventories	307.53	53.47
(Increase)/decrease in trade receivables	1,187.24	(1,077.77)
decrease in other financial assets	1,103.46	103.84
decrease in other assets	577.95	38.43
Increase/(decrease) in tradees	1,360.95	601.50
Increase/(decrease) in other liabilities	340.25	50.03
Increase/(decrease) in other financial liabilities	1.50	22.35
Increase/(decrease) inisions	34.05	5.11
Cashted fromactivities	1,201.7
Income taxpaid (net of refunds	162.64	13.18
Net cash flow from/ (used in) operating activities	(1,364.40)	(280.73)
Purchase of property, plant and equipment including capital advances net ofcreditorscapital	1,071.20	36.94
Proceeds from sale ofant and	9.71
equimadeFixedthe	6,403.00	-6,168.00
itsduringmaturedFixed	324.00	163.30
theitsduring
Dividend received from non current investment	57.00	45.00
Interest income received	172.94	324.62
Net cash from/(used inactivities	1,089.45	98
Dividendsharespaid onequity
leaset ofprincipal
t of interest on lease li
Other finance costpaid
Net cash fromactivities/(used in) fin:
Net increase in cash and cashalents (A+Cash and cash	366.82
ents at theof the	389.73
Cash and cashents at the end of the	22.91	24

Note: The cash flow statement has been prepared under the indirect method as set out in Indian Accounting Standard (IND AS) 7 statement of cash flows.

For and on behalf of Board of Directors

Digitally signed by PRANAV P RA NAV RELAN tg 021.1026 12:11:40 +05'30°

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER 2021

• 1 The above consolidated financial results of NDR Auto Components Limited ("the Company") have been prepared in accordance with Indian Accounting Standards (IND-AS) as prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies(Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Rules, 2016 and relevant amendment rules thereafter.
• 2 The Sales/Purchase have been recognised based on contract price with the customers/vendors which are subject to escalations and de-escalations basis annual price revision. The Company estimated such escalations and deescalations on best estimate basis and these will be formalised by year end.
• 3 The Company has only one reportable business segment as it manufactures and deals only in auto component parts in terms of Ind AS 108 Operating Segment". Further, the Company operates only in one geographical segment India. All the assets of the Company are located in India. The chief operating officer & chief financial officer (chief operating decision maker) monitors the operating results as one single segment for the purpose of making decisions about resource allocation and performance assessment. Accordingly, there are no separate reportable segments as per IND-AS 108, "Operating Segment" prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.
• 4 Consequent to the uncertainties caused due to continuation of Covid-19 pandemic, the Company has considered the possible effects that may result from this pandemic in the preparation of these financial statements and has done a detailed assessment for carrying amount of financial and non-financial assets and does not anticipate any impairment to these assets. Also, the management does not see any risks in the Company's ability to continue as a going concern and meeting its liabilities as and when they fall due. The business is resuming ever since the restrictions are lifted. The situation though is changing rapidly giving rise to inherent uncertainty around the extent and timing of the potential future spread of Covid-19 and due to which the Company will continue to closely monitor any material changes to future economic conditions, if any.
• 5 Pursuant to the National Company Law Tribunal (NCLT) order, dated February 20, 2020, the Automobile Seating Business of Sharda Motor Industries Limited (SMIL) has been demerged into NDR Auto Components Limited (Resulting Company or NACL) w.e.f end of the day of December 31, 2018, being the appointed date and pursuant to NCLT order NDR Auto Components Limited ceased to Subsidiary of Sharda Motor Industries Limited (Demerged Company) w.e.f. the appointed date.
• a) NACL has recorded the assets and liabilities of the Automobile Seating Undertaking vested in it pursuant to this Scheme at the respective Book Values thereof.
• b) NACL has credited its share capital account with the aggregate face value of the new equity shares issued by it to the members of SMIL in the following proportion: "for every 1 (One) equity share of face value of INR10/- (Rupees Ten only) each held in SMIL as on the Record Date i.e. March 27, 2020 , the equity shareholders of SMIL shall be issued 1 (One) equity share of face value INR10/- (Rupees Ten only) each credited as fully paid-up in NACL"
• c) Inrespect of cancellation of shares held by SMIL, NACL has debited to its Equity Share Capital Account, the aggregate face value of existing equity shares held by SMIL in NACL with a corresponding credit to Capital Reserve of NACL.
• d) The difference between a) and b) above has been recorded as capital reserve.
• e) During the period in pursuance to reconciliation for certain items pertaining to demerger, due to disclosure requirements amount of investments and capital reserve have been adjusted by Rs. 154.13 lakhs

6 The Consolidated financial results include the results of the Company, 1 associate and 2 joint ventures.

• 7 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
• 8 During the current quarter, the Company has paid final dividend of Re 1/- per equity share of the face value of Rs. 10 each pertaining to the financial year 2020-21 amounting to Rs. 59.46 lakhs after approval by shareholders in Annual General Meeting held on 22.09.2021. The dividend amount has been adjusted from reserves accordingly.
• 9 The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 26th October, 2021. The above financials results have been subjected to limited review by the statutory auditors of the Company in accordance with the Standard on Review Engagements (SRE) 2410 issued by the Institute of Chartered Accountants of India and they have issued an unmodified report on the aforesaid results.

For and on behalf of the Board of Directors

Digitally signed by PRANAV PRANAV RELAN es 202.1028 12:12:01 +05'30"

independent _Auditor's Limited Review Report on Quarter and Six Months ended Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

S S KOTHARI MEHTA ~ & COMPANY"

CHARTERED ACCOUNTANTS

Review Report to The Board of Directors NDR Auto Components Limited

• 1. We have reviewed the accompanying statement of unaudited Consolidated financial results of NDR Auto Components Limited ("the Company") and its share of net profit/(loss) of its associate and joint ventures, for the quarter and six months ended on September 30, 2021 ("the statement"), prepared and submitted by the Company pursuant to the requirements of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
• 1. This statement is 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, as amended, and rules thereunder, requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other accounting principles generally accepted in India, is the responsibility of the Company's management and has been approved by the Board of Directors of Company. Our responsibility is to express a conclusion 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 Statements is free of material misstatement. A review of interim financial information consists of making inquiries primarily of persons responsible for financial and accounting matters, and 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.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD 1/4412019 dated March 29, 2019 issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• 1. The Statement includes the results of following entities:
  • i. Bharat Seats Limited Associate, India
  • ii. Toyo Sharda India Private Limited Joint Venture, India
  • iii. Toyota Boshoku Relan India Private Limited Joint Venture, India
• 1. Based on our review conducted and procedures performed as stated above and based on the consideration of financial results furnished to us by the management as referred to in paragraph 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ('IND AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. EHTA o> aes © 3 - ee Oy, 7 AN ={—' eT - Plot No. 68, Okhla industrial Area, Phase-lll, New Delhi-110020 3 | San 7 =) Tel : +91-114670 8888 E-mail: info@sskmin.com 5, Ao www.sskmin.com

SS KOTHARI MEHTA ~— & COMPANY CHARTERED ACCOUNTANTS

7. Emphasis of Matter

We draw attention to note no. 4 of the accompanying financial results, which describe the management's assessment of the impact of COVID-19 pandemic on financial performance, and ever since the restrictions are lifted the business is gradually resuming, however real impact of assessment will depend on future economic conditions and developments.

Our conclusion is not modified in respect of this matter.

1. The Statement includes financial results of one associate of the company (as mentioned in paragraph 5(i) above) which has been reviewed by their auditor and have been furnished to us by the management, whose financial results reflects share of total net profit after tax of Rs. 45.36 lakhs and Rs. 60.03 lakhs and share of total comprehensive income of Rs. 45.93 lakhs and Rs. 61.17 lakhs for the quarter and six months ended September 30, 2021 respectively. Our Conclusion on the Statement, and our report in terms of Regulation 33 of the regulation read with SEBI Circular, in so far as it relates to the aforesaid associate, is based solely on such reviewed financial information. Our Conclusion on the statement is not modified in respect of this matter.

The Statement includes financial results of one joint venture company (as mentioned in paragraph 5(ii) above) which have not been reviewed by their auditor and have been furnished to us by the management, whose financial results reflects share of total net profit after tax of Rs. 27.41 and Rs. 55.13 lakhs and share of total comprehensive income of Rs. 27.41 and Rs. 55.13 lakhs the quarter and six months ended September 30, 2021 respectively. Our Conclusion on the consolidated unaudited financial results, and our report in terms of Regulation 33 of the regulation read with SEBI Circular, in so far as it relates to the aforesaid joint venture, are based solely on such un-reviewed financial information. In our conclusion and according to the information and explanations given to us by the management, this interim financial information is not material to the consolidated financial results. Our Conclusion on the statement is not modified in respect of this matter.

The comparative financial information of the company for the quarter and six months ended September 30, 2020 as reported in these financial results were reviewed by the predecessor auditor who expressed unmodified conclusion on those financial results on November 30, 2020.

For $.S. Kothari Mehta and Company (Chartered Accountants) Firm Reg. No. 000756N

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ee (Neeraj Bansal) No o/ (Partner) Nlered act Membership No. 095960 UDIN: 210959 60AAAAKUYIIF

Place: Delhi Date: 26.10.2021