Nitin Castings Limited — Regulatory Filings 2021

Nov 11, 2021

illTlir CIN No. : L65990MH19B2PLCO2AB22 A(edio ENTERPRISE NITIN GASTINGS LIMITED

Corporate Office : Prestige Precinct, 3rd Floor, Almeida Road, Thane (West) - 400 601. lNDlA. Tel.: 022-2598 5900 . Email: finance@nitincastings.com . Website : www.nitincastings.com

11th Nov6mber, 2021

To, BSE Limited 25'n Floor, P J Towers, Dalal Street, Mumbai - 400 ⁰⁰¹

Sub: Outcome of Board Meetinq held on Novembell l . 2021

Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 csEBl LooR"), this is to inform you that the company's Board of Directors, at their meeting held on today i.e. November 11, 2021 have inter-alia considered and approved the un-audiled Financial Results of the Company for the quarter and year ended on 3orh Seplember, 202.1.

Further, in terms of the provisions of Regulation 33 of the SEBI LODR, enclosed herewith please find the following:

• 1. Un-audited Financial Results for the quarter and year ended on 30th Septemb er, 2021 and
• 1. Limited Review report of statutory Auditors for the quarter and year ended on 30h september, 2021.

The aforesaid meeling commenced at 3.00 p.m. and concluded at 3.45 p.m

This is for your information and record.

Yours faithfully

For Nitin Limited

Nipu dia Di & Authorized Signatory En .: as above

NITIN CASTINGS LIMITED

CIN No.: L65990MH1982PLC028822

Corporate Office : Prestige Precinct, 3rd Floor, Almeida Road, Thane (West) - 400 601. INDIA. Tel.: 022-2598 5900 · Email: finance@nitincastings.com · Website : www.nitincastings.com

Un-Audited Financial Result for the Quarter and Half Year Ended 30th September, 2021 Scrip Code: 508875 Rs. in Lakhs (Except EPS).
		Quarter Ended		Half Year Ended		Year Ended
Particulars	30-Sep-2021	30-Jun-2021	30-Sep-2020	30-Sep-2021 30-Sep-2020		31-Mar-2021
		Un-Audited		Un-Audited		Audited
1. Net Sales / Revenue from Operations	2.264.65	1,871.56	1,336.22	4,136.21	2,027.55	6,196.65
2. Other Income	99.66	31.42	32.25	131.08	51.88	149.92
3. Total Income $(1+2)$	2,364.31	1,902.98	1,368.47	4,267.29	2,079.43	6,346.57
4. Expenditure
a. Cost of materials consumed	2,084.47	1,363.28	968.10	3,447.75	1,334.81	3,967.04
b. Purchase of traded goods
c. (Increase) / decrease in stock of finished goods,	(342.06)	47.78	(68.50)	(294.28)	60.39	477.82
work in progress and stock-in-trade
d. Employees benefit expense	190.12	169.67	152.98	359.79	246.69	629.08
e. Finance Cost	5.55	6.84	15.09	12.39	31.64	95.76
f. Depreciation & Amortisation	50.57	48.98	55.76	99.55	110.68	221.19
g. Administrative, Selling & General Expenses	211.28	127.28	112.07	338.56	194.19	564.51
Total Expenditure	2,199.93	1,763.83	1,235.50	3,963.76	1,978.40	5,955.40
5. Profit (+)/Loss (-) before exceptional item and tax	164.38	139.15	132.97	303.53	101.03	391.17
6. Exceptional items
7. Profit (+)/Loss (-) from Ordinary	164.38	139.15	132.97	303.53	101.03	391.17
Activities before tax (3) - (4+5+6)
8. Tax expense	27.37	33.43	12.64	60.80	16.54	65.43
Current Tax	28.30	34.10	9.51	62.40	9.51	82.00
Tax Provisoin of Earlier Years						(16.22)
Deferred Tax	(0.93)	(0.67)	3.13	(1.60)	7.03	(0.35)
9. Net Profit (+)/Loss (-) from Ordinary Activities after Tax	137.01	105.72	120.33	242.73	84.49	325.75
10. Other Comprehensive Income (Net of Tax)
Item that will not be classified to profit & Loss
(i) Re-measurement of defined benefit plan	$\blacksquare$	÷.	×	$\frac{1}{2}$	٠	11.84
(ii) Income tax related to item no. (i) above	$\blacksquare$	٠	$\frac{1}{2}$	۰	$\blacksquare$	(2.97)
Other Comprehensive Income (Net of Tax)				$\overline{a}$		8.87
Total Comprehensive Income for the period (9+10)	137.01	105.72	120.33	242.73	84.49	334.62
11. Paid-up equity share capital (Face value: Rs. 5/- per shares)	257.07	257.07	257.07	257.07	257.07	257.07
12. Earnings Per Share (EPS) (of Rs. 5/- each) (Not Annualised)
- Basic and diluted EPS	2.66	2.06	2.34	4.72	1.64	6.51
Notes:

(1) The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 11th November, 2021. (2) The Company is engaged in manufacture of Alloys Steel Castings and there is no separate reportable segment as per Ind_AS 108. (3) The above financial results have been prepared in accordance with the section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. (4) Figures of previous period have been regrouped and / or recasted wherever considered necessary to confirm the grouping of current period. (5) The Financial Results of the Company are submitted to BSE and are available on Company's website at www.nitincastings.com. (6) The figures of the last quarters are the balancing figures between the un-audited figures in respect of the half financial year and the unaudited published year to date figures upto the first quarter of the respective financial year. (7) The above is an extract of the details format of Quarterly Financial Results filed with the BSE under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015. The full format of the Quarterly Financial Results are available on the website of BSE and on the Company's website at www.nitincastings.com

Mumbai Date: 11th November, 2021	For NITJN CASTINGS LIMITED Property Mumba $\overline{\phantom{a}}$ COMPANY All Contracts Nipun Kedia Divector $\cancel{p}$ IN No.: 02356010

NITIN CASTINGS LIMITED

CIN No.: L65990MH1982PLC028822

Corporate Office : Prestige Precinct, 3rd Floor, Almeida Road, Thane (West) - 400 601. INDIA.
Tel.: 022-2598 5900 • Email: finance@nitincastings.com • Website : www.nitincastings.com

Un-Audited Statement of Assets and Liabilities as on 30th September, 2021
	Scrip Code: 508875			Rs. in Lakhs
		Half Year Ended		Year Ended
	Particulars	30-Sep-2021	30-Sep-2020	31-Mar-2021
		Un-Audited		Audited
	ASSETS
1	Non-Current Assets
	-Property, Plant and Equipment's	2,373.50	2,486.73	2,437.39
	-Capital Work-in-Progress		$\blacksquare$	$\blacksquare$
	-Goodwill		۰	$\blacksquare$
	-Financial Assets
	-Investments	46.48	28.17	34.69
	-Loans & Advances		156.24
	-Other Financial Assets	92.81	67.25	92.80
	-Other Non-Current Assets		$\overline{\phantom{a}}$	$\overline{\phantom{a}}$
	-Deferred Tax Assets (Net)
		2,512.79	2,738.39	2,564.88
$\mathbf{2}$	Current Assets -Inventories
	-Financial Assets	1,914.94	1,701.57	1,305.10
	-Investments	1,479.65	691.42	1,549.43
	-Trade Receivables	1,043.42	846.04	972.05
	-Loans & Advances	6.04	263.88	60.00
	-Cash and cash equivalents	1.81	5.41	4.54
	-Bank Balance other than cash and cash equivalents	242.55	136.65	39.58
	-Other Financial Assets	30.63	36.68	34.93
	-Current Tax Assets (Net)		1.34
	-Other Current assets	292.14	79.29	150.08
		5,011.18	3,762.28	4,115.71
	TOTAL ASSETS(1+2)	7,523.97	6,500.67	6,680.59
	EQUITY AND LIABILITIES
1	Equity
	Equity attributable to owners of parent
	-Equity Share Capital	257.07	257.07	257.07
	-Other Equity	4,988.85	4,520.86	4,771.83
		5,245.92	4,777.93	5,028.90
2 1	Liabilities
	Non-Current Liabilities
	-Financial Borrowings	31.19	323.40	38.88
	-Deferred Tax Liabilities (Net)	19.27	25.28	20.87
	Current Liabilities	50.46	348.68	59.75
	-Current Financial Liabilities
	-Borrowing	219.81		48.30
	-Trade Payable	1,005.60	528.86	781.49
	-Other Financial Liabilities	91.15	273.85	276.73
	-Provisions	125.22	85.47	146.72
	-Current Tax Liabilities (Net)	16.61	9.51	15.10
	-Other Current Liabilities	769.20	476.37	323.60
		2,227.59	1,374.06	1,591.94
	TOTAL EQUITY AND LIABILITIES(1+2)	7,523,97	6,500.67	6,680.59
Mumbai	Casting Mumbai	FOR MITIN CASTINGS LIMITED Nipun Kedia Director
	Date: 11th November, 2021	DIN No.: 02356010

illTlir NITIN GASTINGS LIMITED

CIN No. : L65990MH1982PLCO28822

Corporate Office : Prestige Precinct, 3rd Floor, Almeida Road, Thane (West) - 400 601. lNDlA. fel.: 022-2598 5900 . Email: finance@nitincastings.com . Website : www.nitincastings.com

STATEMENT OF CASH FLOWS for the period ended 3oth september, 2021

Particulars	As at 30th Sept, 2021 Rs, ltr LakhJ	As at 30th sept, 2020 Rs. ltr l2khs	Asat3lstMarch 2027 Rs ltr Lakhs
A. Cash flow from Operatins Activities
Profitbefore tax as per Prolit& Loss Account	303.53	r01.03	391.17
Other Comprehensive Income			B.B7
Depreciation & Amortization	99.55	110.68	221.19
Profit/Loss on sale ofAssets	19.65		(2.86)
Finance costs	12.39		95.76
Dividend Income	(0.e4)		(0.7 4)
Insurance Claim received	(12.9r)
Adjustnent for Taxes of Earlier Years			1.61
Operating profit before working capital changes Adiustment for	42t.27	277.7	71S.00
(lncrease)/Decrease in trade receivables	(71.37)	40.17	(4s.841
fl ncrease)/Decrease in inventories	(609.841	173.37	569.85
(lncrease)/ Decrease in loans	53.96	62.21	327.37
(lncrease'l/Decrease in otlerfinancial assets	4.29		(26.64)
flncreasel/Decrease in other current assets	(144.031	23.88	45.28
Increase/ (Decreasel in tmde payables	224.11	(180.70)	71.93
Increase/(Decreasel in other financial liabilities	tlBs.sB)		1.03
lncrease/(Decreasel in provisions	(21.s0)		61.03
lncrease/[Decrease) in othercurrent liabilities	447.11	1.7.13	(128.84)
lncrease/(Decrease) in other non-current liabilities	r1.601		2.62
Cash genemted from operations	116.42	347.77	1,592.81
lncome taxes paid	(4s.94)	t16.541	(6s.43)
Net Cash flow from Operating Activities	7O.BB	37 7.23	1,52734
8. Cash flow from Investing Activities
Purchase of Fixed Assets	[1s0.37)	(2.43)	(67.06)
(lncrease)/Decrease in investments	57.99	t234.18)	(1,098.71)
Net Proceeds from Sale ofFixed Assets	95.06		6.31
Dividend Received	0.94	(236.61'l	0.7 4 (t,r58.721
Net Cash flow from investing Activities C. Cash flow from Financins Activities	3.62
		(148.44)	(384.661
ReDavment of borrowinEs	163.42
Interest Paid	[12.39]		(9s.76)
Dividend Paid	(2s.70)
Net Cash flow from Financing Activities	125.73	(r48.44'l	(480.42',1
Net Inc.ease / (decrease) in cash and cash equivalent	200.23	(13.82)	(111.76',1
Cash and cash equivalentas at the beginning ofthe year	44.12	155,88	155.88
Cash and cash equivalentas at the closing ofthe year	244.3h	142.06	44.12
ca s	For N	INCS LIMITID

Mumbai Date: 11th November, 2021

qrrq,, o ta ia Di

No. :02356010

Chartered Accountants 3rd & 4th Floor, Vaastu Darshan. 'B'wing. Above Central Bank of lndia. Azad Road. Andheri (East), Mumbai - 400 069. Tel. :022- 6191 9293 t 222 l2OO Fax :022- 2684 2221 I 6191 ⁹²⁵⁶ E-mail : admin@gmj.co.in info@gmj.co.in

lndependent Auditor's Review Report on Quarterly and year to Date unaudited Financial Results of the Nitin castings Limited pursuant to the Regulation 33 of the sEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To, The Board of Directors, Nitin Castings Limited

Report on the audit of the Financial Statements,

Unmodified Opinion

We have reviewed the accompanying Statement of unaudited financial results of Nitin Castings Limited ("the company") for the quarter ended Septembe r 30, ZO27 and year to date from April 7, ZO2L to September 30, 2021 ("the Statement")

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 lndian Accounting Standard 34,,tnterim Financial Reporting,, (,,lnd AS 34")- frrescrihed under Section 133 of the Compaoies Act, 2013, and other accounting principles generally accepted in lndia and in compliance with Regulation 33 of the Securities and Exchange Board of lndia (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"). our responsibility is to issue a report on the statement based on our review.

we conducted our Limited Review in accordance with the standard on Review Engagements (sRE) 2410 "Review of lnterim Financial tnformation performed by the lndependent Auditor of the Entity" issued by the lnstitute of Chartered Accountants of lndia. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement are free of material misstatements. A review is limited prlmarily 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.

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 accounting standards and other recognized accounting practices and policies has not disclosed the informatjon required to be disclosed in terms of Regulation 33 of the Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement.

Emphasis of Matter

We have not reviewed the interim financial result for the quarter ended September 30, 2020. The interim financial result of the Company for the said quarter have been reviewed by the earlier Independent Auditors of the Company.

Our opinion is not modified in respect of this matter.

Other Matters

Due to COVID-19 pandemic and the lockdown and other restrictions imposed by the Government and local administration, the audit processes were carried out based on the remote access to the extent available/feasible and necessary records made available by the management through digital medium.

Our opinion is not modified in respect of this matter.

For GMJ & Co Chartered Accountants Firm Registration No: 103429W

CA Atul Jain Partner M. No. 037097 UDIN: 21037097AAAAGP2271 Place: Mumbai Date: 11^th November 2021