NEELKANTH LIMITED — Interim / Quarterly Report 2021

Jun 30, 2021

RT EXPORTS

To, The Manager (Listing) Corporate Relationship Dept BSE Limited P J Tower, Dalal Street, Mumbai - 400 001

Dear Sir/ Madam,

Scrip Code:- 512565

Subject-Outcome of the Meeting of the Board of Directors of the Company held on 30^th June, 2021.

With reference to the above, we hereby inform you that the Board of Directors in their meeting held on today i.e 30^th June, 2021 inter alia approved the following;

• 1. Audited financial results along with Audit Report thereon given by the Statutory Auditors for the quarter and year ended 31^st March, 2021 and the same are enclosed herewith alongwith press release as Annexure 'A'.
• 1. Appointment of Ms. Prajakta Patil (membership No. A53370) as a Company Secretary and Key Managerial Person and further as a Compliance Officer of the Company w.e.f. 30^th June, 2021. Brief Profile of Ms. Prajakta Patil is attached herewith as Annexure 'B'.

Also, with the financial results as above having been communicated to the stock exchanges, the Trading Window shall open w.e-.f. 2^nd July, 2021.

Request you to kindly take the above on record and oblige.

Thanking You,

Yours Faithfully,

For R.T. Exports Limited

Mr. Bhavik Bhimjyani Chairman & Managing Director DIN:00160121

Encl: As above

R T EXPORTS LIMITED

508, Dalamal House, Jamnalal Bajaj Marg, Nariman Point, Mumbai 400021. T: 022 408 1'3000 Email: headoffice@neelkanthrealty.com CIN: L51900MH1980PLC022582

Independent Auditor's Report on the Quarterly and Year to Date Audited Financial Results of the Company Pursuant to the Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of

R. T. Exports Limited

Report on the audit of the Financial Results

Opinion

We have audited the accompanying financial results of R. T. Exports Limited (hereinafter referred to as the ''Company") for the quarter and year ended 31st March 2021, (the "Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us, these financial results:

• (i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• (ii) give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India, of the net loss and other comprehensive income and other financial information for the quarter and year ended 31st March, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Financial Results

These financial results have been prepared on the basis of the financial statements. The Company's Management and the Board of Directors are responsible for the preparation and presentation of these financial results that give a true and fair view of the net loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance

with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the financial results made by the Management and Board of Directors.
• Conclude on the appropriateness of the Management and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether

a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

We report that the figures for quarter ended 31st March, 2021 represent the derived figures between the audited figures in respect of the financial year ended 31st March, 2021 and published unaudited year to date figures up to 31st December, 2020 being the date of the end of the third quarter of the current financial year, which were subject to limited review by us.

For Pathak H. D. & Associates LLP

Chartered Accountants (Registration No. 107783W/W100593)

Gopal Chaturvedi Partner Membership No.: 090903 UDIN –21090903AAAAEA3173 Place: Mumbai Date: June 30, 2021

PRESS RELEASE

R.T. EXPORTS LIMITED

RT EXPORTS

REGD OFFICE: 508, Dalamal House, Jamnalal Bajaj Road, Nariman Point, Mumbai - 400021 CIN:-L51900MH1980PLC022582, TEL:-022-4081-3000

Tel:- 91-22-40813000 Email:- headoffice@rtexports.com web site:- www.rtexports.com

EXTRACT OF AUDITED FINANCIAL RESULT FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021

				(Rs. In Lakhs except per share data)
Particulars		Quarter Ended	Quarter ended	Year Ended	Year Ended
	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
	Unaudited	Unaudited	Unaudited	Audited	Audited
Total income from operations (net)	239.87		67.30	239.87	287.87
Net Profit / (Loss) for the period (before Tax and Exceptional items)	29.10	(15.22)	(4.93)	(5.07)	7.70
Net Profit / (Loss) for the period before tax (after Exceptional items)	29.10	(15.22)	(4.93)	(5.07)	7.70
Net Profit / (Loss) for the period after tax (after Exceptional items)	29.10	(15.22)	(5.68)	(5.07)	6.95
Total Comprehensive Income for the period [Comprising Profit/(Loss) for the period (after tax) and other Comprehensive Income (after tax)]	29.10	(15.22)	(6.56)	(5.07)	6.95
Equity Share Capital	435.90	435.90	435.90	435.90	435.90
Reserves (excluding Revaluation Reserve as shown in the Audited Balance sheet of previous year)	$\overline{\phantom{a}}$	$\overline{\phantom{0}}$		489.62	494.69
Earnings Per Share (EPS) (of Rs.10/- each) (not annualised) Basic: Diluted:	0.67 0.67	(0.35) (0.35)	(0.13) (0.13)	(0.12) (0.12)	0.16 0.16

Note:

1) The above is an extract of the detailed format of audited Financial Results for the quarter and year ended on 31st March, 2021 filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Full format of the Quarter and year ended Financial Results are available on the Stock Exchnage (s) and the Company website (www.rtexports.com).

2) The financial results have been prepared in accordance with Indian Accounting Standards (Ind-AS) as notified under the Companies (Indian Accounting Standards) rules, 2015 as specified under section 133 of the companies act, 2013.

3) The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 30th June, 2021.

DIN: 00160121

By order of the Board R.T. EXPORTS LIMITED Bhavik Bhimjyani Chairman & Managing Director

Date: 30th June, 2021 Place: Mumbai

R.T. EXPORTS LTD.

REGD OFFICE: 508, Dalamal House, Jamnalal Bajaj Road, Nariman Point, Mumbai - 400021 CIN:- L51900MH1980PLC022582

Tel :- 91-22-40813000 Email :- headoffice@rtexports.com web site :- www.rtexports.com

AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021

		(Rs. In Lakhs) Quarter Ended
Sr.	Particulars				Year Ended
No.		31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		Unaudited	Unaudited	Unaudited	Audited	Audited
$\mathbf{1}$	Income:
	(a) Revenue From operation	234.40		63.21	234.40	270.38
	(b) Other Income	5.47		4.09	5.47	17.49
	Total Income	239.87	$\overline{\phantom{a}}$	67.30	239.87	287.87
$\overline{2}$	Expenses:
	(a) Purchase of Stock in Trade	194.77
	(b) Employee benefits expense	3.26	$\overline{\phantom{a}}$ 3.12	60.98	194.77	223.28
	(c) Finance Costs	5.59	1.45	(0.45) 1.41	10.38 9.95	15.23
	(d) Depreciation	2.54	2.60	2.68	11.17	3.95 9.89
	(e) Other expenses	4.61	8.05	7.61	18.67	27.82
	Total Expenses:	210.77	15.22	72.23	244.94	280.17
3	Profit/(Loss) before tax	29.10	(15.22)	(4.93)	(5.07)	7.70
4	Tax Expenses
	(a) Current Tax	$\overline{\phantom{a}}$	$\sim$	0.75		0.75
	(b) Deferred Tax (credit)	$\blacksquare$	$\overline{a}$	$\ddot{\phantom{0}}$	L	i.
5	Profit/(Loss) for the year/period	29.10	(15.22)	(5.68)	(5.07)	6.95
6	Other Comprenhensive Income
	Items that will not be reclasified to profit and loss account
	Remeasurement of net defined benefit plan			(0.88)		$\overline{\phantom{a}}$
	Total Comprehensive Income	29.10	(15.22)	(6.56)	(5.07)	6.95
$\overline{7}$	Paid up Equity Share Capital (Face value per share Rs.10/-)	435.90	435.90	435.90	435.90	435.90
8	Other equity excluding Revaluation Reserve
					489.62	494.69
9	Earnings per Equity Share (EPS)
	(a) Basic	$0.67*$	$(0.35)^*$	$(0.13)*$	(0.12)	0.16
	(b) Diluted	$0.67*$	$(0.35)^*$	$(0.13)*$	(0.12)	0.16
	Not Annualised

R.T. EXPORTS LIMITED CIN:- L51900MH1980PLC022582 RT EXPORTS V REGD OFFICE: 508, Dalamal House, Jamnalal Bajaj Road, Nariman Point, Mumbai - 400021 Tel: - 91-22-40813000 Email: - headoffice@rtexports.com web site :- www.rtexports.com AUDITED BALANCE SHEET AS AT 31ST MARCH, 2021
			(Rs. In Lakhs)
		As at 31.03.2021	As at 31.03.2020
Sr. No.	Particulars
Ŧ	ASSETS
	Non-Current Assets (a) Property, Plant and Equipment	142.53	153.70
	(b) Financial Assets
	(i) Investments	0.00	0.00
	(ii) Other Financial Assets	1.88	1.88
	(c) Other Non-Current Assets	2,371.36	2,371.36
		2,515.77	2,526.94
	Current assets
	(a) Financial Assets (i) Investments	0.41	0.41
	(ii) Trade Receivables	5.89	13.19
	(iii) Cash and Cash Equivalents	6.56	0.38
	(iv) Other financial assets	0.27	0.27
		2.96	2.96
	Assets Held for Sale	16.09	17.21
	Total Assets	2,531.86	2,544.15
$\mathbf{I}$	EQUITY AND LIABILITIES
	Equity
	(a) Equity Share capital	435.90 489.62	435.90 494.69
	(b) Other Equity	925.52	930.59
	Liabilities
	Non Current Liabilities
	(a) Financial Liabilities
	(i) Borrowings	56.63	53.22 53.22
	Current Liabilities	56.63
	(a) Financial Liabilities
	(i) Borrowings	1,498.87	1,513.78
	(ii) Trade Payables
	(A) total outstanding dues of micro enterprises and small
	enterprises (B) total outstanding dues of creditors other than micro	1.29	0.71
	enterprises and small enterprises	25.25	17.99
	(iii) Other Financial Liabilities	3.70
	(b) Other Current Liabilities	20.60	27.86
		1,549.71	1,560.34
	Total Equity and Liablities	2,531.86	2,544.15

lay

R.T. EXPORTS LIMITED

REGD OFFICE: 508, Dalamal House, Jamnalal Bajaj Road, Nariman Point, Mumbai - 400021 CIN:- L51900MH1980PLC022582

Tel:-91-22-40813000 Email:- headoffice@rtexports.com web site:- www.rtexports.com

AUDITED SEGMENT INFORMATION FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021

Quarter Ended Year Ended Sr. Particulars No. 31.03.2020 31.03.2021 31.12.2020 31.03.2020 31.03.2021 Unaudited Unaudited Audited Unaudited Audited Segment Revenue(Net) 1 270.38 (a) Segment - Agro 234.40 63.21 234.40 $\overline{\phantom{a}}$ (b) Segment - Others Total Income 234.40 63.21 234.40 270.38 $\overline{\phantom{a}}$ Segment Results (Profit(+) / Loss (-) before tax and Interest $\overline{2}$ from Each Segment) (a) Segment - Agro 39.14 (0.50) 1.62 37.65 44.60 (b) Segment - Others $\overline{\phantom{a}}$ $\overline{\phantom{a}}$ $\overline{\phantom{a}}$ Total :- 39.14 1.62 44.60 (0.50) 37.65 Less :- i) Interest 5.59 1.45 9.95 3.95 1.41 ii) Other Unallocable Expenditure net off unallocable income (4.45) (13.27) (5.14) (32.77) (32.95) Total Profit / (Loss) before Tax 29.10 (4.93) (5.07) (15.22) 7.70 3 Segment Assets 93.18 (a) Segment - Agro 83.90 91.69 93.18 83.90 (b) Segment - Others 2,350.23 2,350.23 2,350.23 2,350.23 2,350.23 (c) Unallocated 97.73 100.74 100.74 94.94 97.73 Total Segment Assets 2,531.86 2,544.15 2,531.86 2,544.15 2,536.86 Segment Liabilities 4 (a) Segment - Agro 11.40 11.40 $\omega$ i. (b) Segment - Others (c) Unallocated 1,613.56 1,613.56 1,594.94 1,640.44 1,594.94 Total Segment Liabilities 1,606.34 1,613.56 1,640.44 1,613.56 1,606.34					(RS. In Lakhs)

	R. T. Exports Limited
	CIN:- L51900MH1980PLC022582 RT EXPORTS
	REGD OFFICE : 508, Dalamal House, Jamnalal Bajaj Road, Nariman Point, Mumbai - 400021.
	Tel:- 91-22-40813000 Email:- headoffice@rtexports.com web site:- www.rtexports.com
	AUDITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2021
			(Rs. In Lakhs)
	Particulars	Year ended	Year ended
		31st March 2021	31st March 2020
A.	CASH FLOW FROM OPERATING ACTIVITIES
	Profit / (Loss) before tax	(5.07)	7.70
	Adjustment for:
	Depreciation and amortisation expense	11.17	9.89
	Finance Cost	9.95	3.95
	Sundry Balance written off/Provision for Doubtful		1.96
	debt/Expected Credit Loss
	Excess Provision Written Back		(4.95)
	Profit on Sale of Fixed Assets (Net)		(2.45)
	Sundry Balances written Back	5.47	(10.08)
	Operating profit before working capital changes	21.52	6.02
	Adjustment for:
	Changes in Trade & Other Receivables	7.30	(6.52)
	Changes in Trade Payables	(4.88)	7.85
	Cash generated form operations	23.94	7.35
	Income tax refund received / (paid)		(0.55)
	Net cash flow from operating activities	23.94	6.80
	B. CASH FLOW FROM INVESTING ACTIVITIES
	Purchase of Property, Plant and Equipment		(68.75)
	Proceeds from Sale of Property, Plant and Equipment		11.23
	Net cash flow from investing activities		(57.52)
	C. CASH FLOW FROM FINANCING ACTIVITIES
	(Repayment)/Receipts of Long term Borrowings		55.00
	Payment of Long term Borrowings	(1.90)	(1.78)
	(Repayment)/Receipts of Short term Borrowings (Net)	(14.91)	1.38
	Interest paid	(0.95)	(3.95)
	Net cash flow from financing activities	(17.76)	50.65
	Net increase / (decrease) in cash and cash equivalents	6.18	(0.07)
	Opening Balance of Cash and cash equivalents	0.38	0.45
	Closing Balance of Cash and cash equivalents	6.56	0.38

RT EXPORTS

Notes to Audited Financial Results for the year ended 31st March 2021:-

• 1. The Audit Committee has reviewed the above results and the Board of Directors has approved the above results at their meeting held on 30^th June, 2021.
• 1. Board of directors in their meeting held on September 20, 2018 approved scheme for reduction of preference share capital of the Company whereby its issued and paid up preference share capital amounting to Rs.1495.42 Lakh (divided into 7,00,000 9% Cumulative Preference Shares of 100 each and 7,95,415 6% Non-Cumulative Preference shares of Rs.100 each) was proposed to be reduced.

Hon'ble National Company Law Tribunal ("NCLT"), Mumbai Bench had vide order dated December 16, 2020 (Ref: C P No. 3481 of 2019 under Section 66 of the Companies Act, 2013) has approved the reduction of Preference Share Capital of the Company. Further, the certified true copy dated February 18, 2021 of the said order and scheme became effective on March 17, 2021 on filing of the scheme with the Registrar of Companies, Mumbai, Maharashtra and registered by Registrar of Companies, Mumbai, Maharashtra on April 20, 2021.

Pursuant to above NCLT order, 7,00,000 9% Cumulative Preference Shares of Rs. 100 each fully paid aggregating to Rs 700.00 Lakh and 7,95,415 6% Non-Cumulative Preference shares of Rs. 100 each fully paid aggregating to Rs 795.42 Lakh were cancelled and converted into unsecured loans. These loans will be paid within a period of 3 years from the effective date of the scheme i.e. March 17, 2021 as and when funds would be available with the Company.

1. As per Indian Accounting Standard 108 'Operating Segment', the Company has reported 'Segment Information' as described below: Two business segments have been identified: Agro products representing Trading of Rice and others (including services and rent).

The assets and liabilities that cannot be allocated between the segments are shown as unallocable assets and liabilities respectively.

The outbreak of Coronavirus (COVID-19) pandemic globally and in 4. India is causing significant disturbance and slowdown of economic activity. The Company has evaluated impact of this pandemic on its business operations and based on its review and current indicators of future economic conditions, there is no significant impact on its financial statements.

RT EXPORTS 影

• 1. The figure for the quarter ended 31st March, 2021 are the balancing figures between the Audited figures in respect of full current financial year and the results published up to the third quarter ended 31st December 2020.
• 1. The figures for the previous period/year have been re-grouped/rearranged, wherever necessary, to correspond with the current period's classification / disclosure.

For and on behalf of Board of Directors of R. T. Exports Limited

Bhavik Bhimjyani Chairman & Managing Director DIN No.:00160121

Place: Mumbai Date: 30^th June, 2021

RT EXPORTS 事

Annexure B

Disclosure pursuant to Regulation 30 of SEBI (Listing Obligation Disclosure Requirements) Regulations, 2015.

a) Reason for change	Appointment as Company Secretary (KMP) & Compliance Officer
b) Date of Appointment	30 th June, 2021
c) Brief Profile	Ms. Prajakta Patil (ACS no 53370) is an Associate Member of Institute of Company Secretary of India possessing requisite qualifications and skills required for the said post.
d) Disclosure of relationship between	NIL
directors

R T EXPORTS LIMITED 508, Dalamal House, Jamnalal Bajaj Marg, Nariman Point, Mumbai 400021. T. 022 408 13000 Email: headoffice@neelkanthrealty.com CIN: L51900MH1980PLC022582