Nitiraj Engineers Limited — Annual Report 2021

Jun 22, 2021

• Electronic Weighing Scales & Systems
• Electronic Currency Counting Machines
• Electronic Fare Meters
• · Home Automation

Date: 22th June, 2021

To,

The Listing Compliance, National Stock Exchange of India Ltd. Exchange Plaza, C-I, Block G, Bandra Kurla Complex, Bandra (E) Mumbai - 400051

NSE SYMBOL - NITIRAJ

Sub.: Outcome of the Meeting of Board of Directors held on 22nd June at 5.30 PM

Dear Sir / Madam,

Pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Regulations, 2015 read with Schedule III of the said Regulations, we inform you Requirements) that the Board of Directors of the Company at its meeting held today, i.e. Tuesday, June 22nd 2021, inter alia, has approved the following items:

• 1. Board has approved Standalone and Consolidated Unaudited Financial Results for the half year ended as on 31st March, 2021 as require under Regulation 33(3)(D) SEBI (LODR) Regulations, 2015.
• 1. The Board of Considered and approved the audited financial (Standalone and Consolidated) results for the year ended 31st March 2021 (Scanned copy of the same together with Auditors Report is attached herewith).
• 1. The Board has not recommended dividend in the meeting.

This is for your information and necessary records.

We further inform you that the Board Meeting commenced at 5.30 pm and concluded at 6.00 pm

Kindly take same on your records.

Thanking You, For NITIRAJ ENGINEERS LIMITED

RAnch

RAJESH RAGHUNATH BHATWAL MANAGING DIRECTOR DIN: 00547575

REGD.OFFICE: 306 A, BHABHA BLDG., N. M. JOSHI MARG, DELISLE ROAD MUMBAI - 400 011 (M.S.) 2: (022) 23094161

→ BRANCH OFFICES → CHHATTISGARH MAHARASHTRA ORRISSA Ambikapur : 222508 Raipur 4045448 Ahmednagar: 9168648056 2217179 Balangir: 09338885585 Jalgaon: Bilaspur 401606 Raigarh : 231140 Akola 2422857 Nashik 2316875 Rerhamnur · 2224641

251572 Jeypore Sambalpur: 2541598

NITIRAJ ENGINEERS LTD.

CIN: L31909MH1999PLC119231 ISO 9001: 2015 COMPANY

CORPORATE OFFICE:

BEHIND GURUDWARA, DHULE - 424 001.(M.S.) INDIA TEL.: +91 - 2562 - 239080, 239046, 239331 E-mail: response@nitiraj.net Web Site : www.nitiraj.net

P.D.DALAL & Cd":.

Chartered Accou ntants

Independent Auditor's Report on Audited Standalone Half yearly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and 52of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ZO15

To The Board of Directors of, Nitiraj Engineers Limited, Mumbai

R'eport on the audit of the standalone Financial statements

Opinion

We have audited the accompanylng standalone Half yearly and year to .date standalone financial results ofM/s. Nitiraj Engineers Limited (,,the Company") which includes joint operations for the half year and year ended March 3L, 2021 (the "statement') attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regutations, 1OLS, as amended ("Listing Regutations").

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

• i. are presented in accordance with the requirements of Regutation ' 33 of the Listing Regulations in this regard; and
  • ii. except for the effects of the matter described in the Basis for Qualified Opinion section of our report,give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit and other financial information for. the half year and year ended March 31't 202L.

Basis for Qualified Opinion

The company's provision of Gratuity Liabitity and Leave Encashment Liability is not recorded fully and thus is not in accordance with Accounting Standard 15 on "Employee Benefits" issued by the Institute of Chartered Accountants of India.

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 Standards are further described in the Auditor,s Responsibilities for the Audit of the Standatone Financial Resutts 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 ethica! requirements that are retevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rutes

L

P.D.DALAL & Co.

Chartered Accountants EXECUTE:

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 qualified opinion.

Management's Responsibility for the Standalone Financial Statements

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit of the Company and other financial information in accordance with the applicable 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 Regulations 33 and 52 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 the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, 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

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

Auditor's Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalone 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 standalone 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 standalone financial results, whether due to fraud or error, design and

$\overline{2}$

.

perform audit proce-dures 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 omilsions, misrepresentations, or the override of internal control.

• ' Obtain an understanding of internat controt retevant to the audit in order to design audit procedures that are appropr.iate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company,s'internal control. ' Evaluate the appropriateness of accounting poticies used and the
• reasonableness of accounting estimates and leiated disctosures made by the Board of Directors.
• ' going conclude on the appropriateness of the Board of Directors, use of the concern basis of accounting and, based on the audit evidence obtained, whether a material uniertainty exists retated to events or conditions that may cast significant doubi on ihl company,s ability to continue as a going concern. If u/e .onitra" that a material uncertainty exists, we are required to draw aiiention in our auditor,s report to the related disclosures in the financia! results or, if such disclosures are inadequate, based to modify or. opinion. our conctusions are on the audit evidence obtained up to tl.re oate of our auditor,s report' However, future events or conditions -uv cause the company to cease to continue as a going concern.
• ' standalone Evaluate the overall presentation, structure and content of the financial results, including financial the disclosures, and whether the resutts represent the underlying manner transu.tions and events in a that achieves fair presentation. L'v"e s,,L'. EvErl

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

we arso provide have those charged with governance with a statement that we complied with retevant ethicat requirements regarding independence, and reasonably to communicate with them all relationships ana oiner matters that may be thought to bear on our independence, and where applicable, related safeguards.

For and on behalf of P.D.Dalal & Co. Chartered Accountants Firm Registration No. LO2O47W

-Walr'4 i

(.Aashish S. Kakaria) Partner Membership No.102915 UDIN : 2L1O2915AAAAEH5167

Mumbai 22'd June, 2021

3

P.D.DALAL & Cci:"

Indepehdent Auditor's Report on Audited Consolidated Half yearly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 and 52of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2O15

To

The Board of Directors of Nitiraj Engineers Limited, Mumbai

Report on the audit of theConsolidated Financial Statements

Opinion

We have audited the accompanying standalone half yearly and year to date consolidated financial results of M/s. Nitiraj Engineers Limited which includes joint operatibns (The Company), its associates for the half year and year ended Mar:ch 31, 2021 (the "Statement') attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20L5, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the report of the other auditoron separate financial statement/ financial information of associate, the Statement:

• i. includes the results of the following entity: Hyper Drive Information Technologies Private Limited (Associate)
• ii. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations, as amended; and
• except for the effects of the matter described in the Basis for Qualified Opinion section of our report,give a true and fair: view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of consolidated net profit and other financial information for the half year and year ended March 31st 2021. ilt.

Basis for Qualified Opinion

The Company's provision of Gratuity Liability and Leave Encashment Liability is not recorded fully and thus is not in accordance with Accounting Standard 15 on "Employee Benefits" issued by the Institute of Chartered Accountants of India.

1

P.D.DALAL & Cci:"

aiiiiit:iiiiiatiiit C h a r t e r e d A c c o u n t a n t s

As explained to us, these are the Associate's first financial statements prepared in accordance with Ind AS, Whereas, the Company is preparing its accounts under the Indian GAAP. To that extent there is a mismatch of the Accounting Standards followed by both the Company and the associate'

Since we have not audited the associate company we cannot arrive at the profit based on Indian GAAP of the associate and hence cannot quantify the impact on the profitability of the Group as a whole due to the change of the accounting standard by the associate.

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 Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group, its associates and jointly controlled entities 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 statements under the provisions of the Companies Act, 2013 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 obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our qualified opinion.

Management's Responsibility for the Standalone Financial Statements

The Statement has been prepared on the basis of the consolidated annual financial statements. The Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other financial information of the Company including its associates in accordance with the applicable accounting standards prescribed under section 133 of the Act read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with the Listing Regulations. The respective Board of Directgrs ofthe companies and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its associates 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 the accuracy and completeness of the accounting records, relevant to the preparation and presgntation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directorsof the Company, as aforesaid.

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

P.D.DALAL & Ccil'

:::::::::::::::::,, C h a rte re d A c c o u n ta n ts

The respective Board of Directors of the company and of its associates are responsible for overseeing the financial reporting process of the Company and of its associate.

Auditor's Responsibitity for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated 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 consolidated 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 consolidated 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, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• .Conclude on the appropriateness of the 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 ability of the Group and its associates and jointly controlled entities 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 consolidated financial results or, if such disclosures are inadequate, to modify our opiqion. 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 Group and its associates and jointly controlled entities to cease to continue as a going concern.
• consolidated consolidated in a man 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 that achieves fair presentation.

9!<)

P.D.DALAL & CGi"j' Chartered Accountanfs

. Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the company and its associates to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated Financial Results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Company and such other entities included in the consolidated financial results of which we are the independent auditor's 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.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matters

The consolidated Financial Results include the audited Financial Results of Hyper Drive Information Technologies Private Limited the associate company, whose Financial Statements/Financial Results/ financial information reflect the company's share of total assets of Rs. 232.85|acs as at March 31st 2021 , the company's share of total revenue of Rs. 64.98 lacs and Rs. 111.42 lacs and company's share of total net profit/(loss) after tax of Rs. (1.45) lacs and Rs. (9.49) lacs for the half yearand year ended respectively, ds considered in the consolidated Financial Results, which have been audited by their respective independent auditors. The independent auditors' reports on financial statements/Financial Results/financial information of these entities have been furnished to us and our opinion on the consolidated Financial Results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above.

4

P.D.DALAL & CdJ"

Our opinion on the consolidated Financial Results is not moditied in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the Financial Results/financial information certified by the Board of Directors.

For and on behalf of P.D.Dalal & Co. Chartered Accountants Firm Registration No.102047W ealw

(Aashish S. Kakaria) Partner Membership No.102915 UDIN : 21102915AAAAEI2356

Mumbai 22'd June, 2027

5

• · Electronic Weighing Scales & Systems
• Electronic Currency Counting Machines
• · Electronic Fare Meters
• · Home Automation

CIN: L31909MH1999PLC119231 ISO 9001: 2015 COMPANY

CORPORATE OFFICE:

BEHIND GURUDWARA, DHULE - 424 001.(M.S.) INDIA TEL.: +91 - 2562 - 239080, 239046, 239331 E-mail: response@nitiraj.net Web Site : www.nitiraj.net

STATEMENT OF ASSETS AND LIABILITIES

$\ddot{\phantom{0}}$

		Amount in Rs. Lacs
Sr.No.		Standalone		Consolidated
	Particulars	As on	As on	As on	As on
		31.03.2021	31.03.2020	31.03.2021	31.03.2020
		Audited	Audited	Audited	Audited
	EQUITY AND LIABILITIES
$\mathbf{1}$	Shareholders' Funds
	(a) Share Capital	1,025.10	1,025.10	1,025.10	1,025.10
	(b) Reserves and Surplus	6,285.35	5,921.82	6,250.12	5,896.09
	Minority Interest
	CMoney received against share warrants
	Sub-total-Shareholders' Funds	7,310.45	6,946.92	7,275.22	6,921.19
$2^{1}$	Share application money pending allotment
$\overline{3}$	Non Current Liabilities
	(a) Long Term Borrowings
	(b) Deferred Tax Liability	34.65	43.46	34.65	43.46
	(c) Other Long Term Liabilities
	(d) Long Term Provisions
	Sub-total-Non Current Liabilities	34.65	43.46	34.65	43.46
4	Current Liabilities
	(a) Short Term Borrowings		535.17		535.17
	(b) Trade Payables	541.65	346.00	541.65	346.00
	(c) Other Current Liabilities
	(d) Short Term Provisions
	Sub-total-Current Liabilities	541.65	881.16	541.65	881.16
	TOTAL EQUITY AND LIABILITIES	7,886.75	7,871.55	7,851.52	7.845.82

REGD.OFFICE: 306 A, BHABHA BLDG., N. M. JOSHI MARG, DELISLE ROAD MUMBAI - 400 011 (M.S.) 2: (022) 23094161

$\ddot{\phantom{0}}$

• BRANCH OFFICES -CHHATTISGARH MAHARASHTRA ORRISSA Ambikapur : 222508 Raipur : 4045448 Ahmednagar: 9168648056 Jalgaon : 2217179 Balangir: 09338885585 Jeypore : 251572 Bilaspur : 401606 Raigarh : 231140 Akola 2422857 Nashik : $\ddot{\phantom{0}}$ 2316875 Berhampur: 2224641 Sambalour: 2541598

					Amount in Rs. Lacs
			StandaloneConsolidatedAs onAs on31.03.202031.03.2021AuditedAudited3,284.933,265.10468.01601.02201.10165.93955.361,285.384,909.405,317.411,422.641,368.21971.67910.22522.29230.67÷25.0145.5625.01
Sr.	Particulars	As on			As on
No.		31.03.2021			31.03.2020
		Audited			Audited
Ш	ASSETS
1	Non-Current Assets
	(a) Fixed Assets
	(i) Tangible assets	3,265.10			3,284.93
	(ii) Intangible assets	601.02			468.01
	(b) Non Current Investments	201.15			175.37
	(c) Long Term Loans & Advances	1,285.38			955.36
	(d) Other Non Current Assets
	Sub-total-Non Current Assets	5,352.64			4,883.66
$\overline{2}$	Current Assets
	(a) Current Investments
	(b) Inventories	1,368.21			1,422.64
	(c) Trade Receivables٠	910.22			971.67
	(d) Cash & cash equivalents	230.67			522.29
	(e) Short Term Loans & Advances
	(f) Other Current Assets				45.56
	Sub-total-Current Assets	2,534.11	2,962.15	2,534.11	2,962.15
	TOTAL ASSETS	7,886.75	7,871.55	7,851.52	7,845.82

STATEMENT OF ASSETS AND LIABILITIES

į,

For Nitiraj Engineers Limited,

abhatron

(Rajesh R. Bhatwal) Managing Director Din No.00547575

Mumbai 22nd June, 2021

• · Electronic Weighing Scales & Systems
• Electronic Currency Counting Machines• Electronic Fare Meters
• · Home Automation

CIN: L31909MH1999PLC119231 ISO 9001: 2015 COMPANY

CORPORATE OFFICE:

BEHIND GURUDWARA, DHULE - 424 001.(M.S.) INDIA TEL.: +91 - 2562 - 239080, 239046, 239331 E-mail: response@nitiraj.net Web Site : www.nitiraj.net

STANDALONE FINANCIAL RESULTS (PROFIT AND LOSS)

						Amount Rs. in Lacs
Sr.	Particulars		Six Months Ended	For the Year Ended
No.		31.03.2021	30.09.2020	31.03.2020	31.03.2021	31.03.2020
		Unaudited	Unaudited	Unaudited	Audited	Audited
L	Revenue from Operations	3,572.16	1,809.99	2,186.78	5,382.15	4,786.37
$\mathbf{II}$	Other Income	15.29	5.35	182.50	20.64	187.64
Ш	Total Revenue(I+II)	3,587.44	1,815.34	2,369.28	5,402.78	4,974.01
$\mathsf{IV}$	Expenses
	(a) Cost of materials consumed	1,913.69	896.26	950.73	2,809.95	2,254.01
	(b) Purchases of stock in trade
	(c) Changes in inventories of finished goods, work inprogress and stock in trade	$-86.07$	128.53	90.46	42.46	359.55
	(d) Employee benfits expense	308.89	215.58	255.66	524.47	483.22
	(e) Finance Cost	6.11	16.03	27.09	22.14	44.65
	(f) Depreciation and amortisation expense	146.77	141.63	85.65	288.41	142.14
	(g) Other Expenses	826.46	396.94	754.52	1,223.40	1,329.48
	Total Expenses	3,115.85	1,794.98	2,164.11	4,910.83	4,613.05
$\vee$	Profit before exceptional and extraordinary itemsand tax (III - IV)	471.59	20.36	205.17	491.95	360.97
VI	Exceptional Items
VII	Profit extraordinary items and tax (V - VI)	471.59	20.36	205.17	491.95	360.97
VIII	Extraordinary Items
$\sf IX$	Profit before tax (VIII - VIIII)	471.59	20.36	205.17	491.95	360.97
$\mathsf{X}$	Tax Expenses:
	(1) Current Tax	120.87	16.37	34.38	137.24	77.93
	(2) Deferred Tax	2.39	$-11.20$	29.63	$-8.81$	24.43
XI	Profit / (Loss) from Period from continuingoperations (VII-VIII)	348.33	15.19	141.15	363.52	258.61
XII	Profit (Loss) from discontinuing Operations
XIII	Tax Expense of Discontinuing operations

REGD.OFFICE: 306 A, BHABHA BLDG., N. M. JOSHI MARG, DELISLE ROAD MUMBAI - 400 011 (M.S.) 2: (022) 309461

CHHATTISGARH

Ambikapur : 222508 Raipur : 4045448 Bilaspur : 401606 Raigarh : 231140

• BRANCH OFFICES -MAHARASHTRA Ahmednagar: 9168648056 Akola $2422857$

Jalgaon : Nashik:

2217179 2316875

251572 Jeypore $\frac{1}{\pi}$ Sambalpur: 2541598

3

Ù IRAJ

Amount Rs. in Lacs

Sr.	Particulars		Six Months Ended			For the Year Ended
No.		31.03.2021	30.09.2020	31.03.2020	31.03.2021	31.03.2020
		Unaudited	Unaudited	Unaudited	Audited	Audited
XIV	Profit / (Loss) from Discontinuing operations (AfterTax XII-XIII)
XV	Profit (Loss) for the period (XI +XIV)	348.33	15.19	141.15	363.52	258.61
XVI	Earnings Per Share of Rs. 10 Each (Not Annualised)
	(a) Basic (Rs.)	3.40	0.15	1.38	3.55	2.52
	(b) Diluted (Rs.)	3.40	0.15	1.38	3.55	2.52

STANDALONE FINANCIAL RESULTS (PROFIT AND LOSS)

Notes:

1 The figures for the corresponding previous period have been regrouped / reclassified wherever necessary, to make them comparable.

The figures for half year ended March 31, 2021 are balancing figures between the audited figures of the full financial year and the reviewed year-to-date figures up to the half year of the financial year.

• 2 The Management identifies "Electronics" as only segment.
• 3 The outbreak of Corona virus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Company's operations and revenue during the period were impacted due to COVID-19. The Company has taken into account the possible impact of COVID-19 in preparation of the audited standalone financial results, including its assessment of recoverable value of its assets based on internal and external information upto the date of approval of these audited standalone financial results and current indicators of future economic conditions.
• 4 The Audit Committee has reviewed, and the Board of Directors has approved the above results and its release at their respective meetings held on June 22, 2021.

For Nitiraj Engineers Limited.

RRenativo

(Rajesh R. Bhatwal) Managing Director Din No.00547575 Mumbai 22nd June, 2021

• Electronic Weighing Scales & Systems● Electronic Currency Counting Machines● Electronic Fare Meters
• Home Automation

CIN: L31909MH1999PLC119231 ISO 9001: 2015 COMPANY

CORPORATE OFFICE:

BEHIND GURUDWARA, DHULE - 424 001.(M.S.) INDIA TEL.: +91 - 2562 - 239080, 239046, 239331 E-mail: response@nitiraj.net Web Site : www.nitiraj.net

CONSOLIDATED FINANCIAL RESULTS (STATEMENT OF PROFIT AND LOSS)

Amount Rs. in Lacs

Sr.	Particulars		Six Months Ended		For the Year Ended
No		31.03.2021	30.09.2020	31.03.2020	31.03.2021	31.03.2020
		Unaudited	Unaudited	Unaudited	Audited	Audited
	Revenue from Operations	3,572.16	1,809.99	2,186.78	5,382.15	4,786.37
$\mathbf{H}$	Other Income	15.29	5.35	182.50	20.64	187.64
$\mathbf{m}$	Total Revenue(I+II)	3,587.44	1,815.34	2,369.28	5,402.78	4,974.01
IV	Expenses
	(a) Cost of materials consumed$\ddot{\phantom{a}}$	1,913.69	896.26	950.73	2,809.95	2,254.01
	(b) Purchases of stock in trade
	(c) Changes in inventories of finished goods, work inprogress and stock in trade	$-86.07$	128.53	90.46	42.46	359.55
	(d) Employee benefit expense	308.89	215.58	255.66	524.47	483.22
	(e) Finance Cost	6.11	16.03	27.09	22.14	44.65
	(f) Depreciation and amortisation expense	146.77	141.63	85.65	288.41	142.14
	(g) Other Expenses	826.46	396.94	754.52	1,223.40	1,329.48
	Total Expenses	3,115.85	1,794.98	2,164.11	4,910.83	4,613.05
$\mathsf{V}$	Profit before exceptional and extraordinary items and$tax (III - IV)$	471.59	20.36	205.17	491.95	360.97
VI	Exceptional Items
VII	Profit extraordinary items and tax (V - VI)	471.59	20.36	205.17	491.95	360.97
VIII	Extraordinary Items
IX	Profit before tax (VIII - VIIII)	471.59	20.36	205.17	491.95	360.97
X	Tax Expenses:
	(1) Current Tax	120.87	16.37	34.38	137.24	77.93
	(2) Deferred Tax	2.39	$-11.20$	29.63	$-8.81$	24.43
XI	Profit / (Loss) from Period from continuing operations$(VII - VIII)$	348.33	15.19	141.15	363.52	258.61

REGD.OFFICE: 306 A, BHABHA BLDG., N. M. JOSHI MARG, DELISLE ROAD MUMBAI - 400 011 (M.S.) 2: (022) 23094161

			BRANCH OFFICES —
CHHATTISGARH			MAHARASHTRA			ORRISSA
AmbikapurBilaspur	222508 Raipur401606 Raigarh :	4045448231140	Ahmednagar: 9168648056Akola2422857	Jalgaon:Nashik	22171792316875	Balangir: 09338885585Remampur . 2224641	Jevpore	251572Sambalnir: 2541598

CONSOLIDATED FINANCIAL RESULTS (STATEMENT OF PROFIT AND LOSS)

Amount Rs. in Lacs

						11119911611311111111113
Sr.No	Particulars		Six Months Ended	For the Year Ended
		31.03.2021	30.09.2020	31.03.2020	31.03.2021	31.03.2020
		Unaudited	Unaudited	Unaudited	Audited	Audited
XII	Profit (Loss) from discontinuing Operations
XIII	Tax Expense of Discontinuing operations
XIV	Profit / (Loss) from Discontinuing operations (After TaxIXII- XIII)
	Add : Share of profit of associates	$-8.04$	$-1.45$	$-14.21$	$-9.49$	$-17.50$
XV	Profit (Loss) for the period (XI +XIV)	340.29	13.74	126.95	354.03	241.11
XVI	Earnings Per Share of Rs. 10 Each (Not Annualised)
	(a) Basic (Rs.)	3.32	0.13	1.24	3.45	2.35
	(b) Diluted (Rs.)	3.32	0.13	1.24	3.45	2.35

Notes:

1 The figures for the corresponding previous period have been regrouped / reclassified wherever necessary, to make them comparable.

The figures for half year ended March 31, 2021 are balancing figures between the audited figures of the full financial year and the reviewed year-to-date figures up to the half year of the financial year.

• 2 The outbreak of Corona virus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Company's operations and revenue during the period were impacted due to COVID-19. The Company has taken into account the possible impact of COVID-19 in preparation of the audited standalone financial results, including its assessment of recoverable value of its assets based on internal and external information upto the date of approval of these audited standalone financial results and current indicators of future economic conditions.
• 3 The Audit Committee has reviewed, and the Board of Directors has approved the above results and its release at their respective meetings held on June 22, 2021.

For Nitiraj Engineers Limited,

Krahra

(Rajesh R. Bhatwal) Managing Director Din No.00547575

Mumbai 22nd June, 2021

Nitiraj Engineers Limited

NITIRAJ ENGINEERS LTD.

Standalone Statement of Cash Flow for the year ended 31 March, 2021

	[Amount in Lacs.]
			For the year ended 31st March For the year ended 31st March
A.) CASH FLOW FROM OPERATING ACTIVITIES		2021		2020
Net profit after tax and extraordinary items adjustmentsfor:
		363.52		258.61
Depreciation on Fixed Assets	288.41		142.14
(Profit)/Loss on Sale of assets$\frac{1}{2}$	$-0.35$		$-91.81$
Interest Expense	19.19		39.44
Others (Dividend, Taxes & CSR)	153.62		77.93
Sundry balances written off / written back	39.24		3.03
Preliminary Expenses written off	18.45	518.55	18.45	189.19
Operating profit before working capital changes
		882.08		447.80
Adjustments for:
Decrease (Increase) in Investments	$-0.05$		0.00
Decrease (Increase) in Loans & Advances	$-330.01$		$-66.31$
Decrease (Increase) in Receivables	22.21		563.79
Decrease (Increase) in Inventories	54.42		323.47
Decrease (Increase) in Other Current Assets	2.10		8.37
Increase / (Decrease) in Deferred Tax Liabilities	$-8.81$		24.43
Increase / (Decrease) in Trade Payables	42.03		$-311.93$
		$-218.11$		541.82
Operating profit after working capital changes		663.97		989.62
B.) CASH FLOW FROM INVESTING ACTIVITIES
(Purchase) Of Fixed Assets	$-271.15$		$-1,063.97$
Sale of fixed asets	2.93		116.37
(Investment) in Intangibles	$-133.01$		$-141.95$
Net cash from investing activities		$-401.23$		$-1,089.56$
C.) CASH FLOW FROM FINANCIAL ACTIVITIES
Proceeds from current borrowings	0.00
Repayment of current borrowings	$-535.17$		594.04$-99.21$
Interest Paid	$-19.19$
			$-32.42$
Net cash used in financial activities C		$-554.36$
				462.41
Net increase/(decrease) in Cash and Cash Equivalents		$-291.62$		362.47
Cash and cash equivalent at the beginning of the year		522.29		159.82
Cash and cash equivalent at the end of the year		230.67		522.29

For Nitiraj Engineers Limited, hora

(Rajesh R. Bhatwal) Managing Director Din No.00547575 · Mumbai 22nd June, 2021

Nitiraj Engineers Limited

NITIRAJ ENGINEERS LTD.

Consolidated Statement of Cash Flow for the year ended 31 March, 2021

A.) CASH FLOW FROM OPERATING ACTIVITIESNet profit after tax and extraordinary items adjustmentsfor:Depreciation on Fixed Assets(Profit)/Loss on Sale of assets		For the year ended 31st March For the year ended 31st March2021		2020
		354.03		241.11
	288.41		142.14
	$-0.35$		$-91.81$
Share of (Profit) / Loss of Associates	9.49		17.50
Interest Expense	19.19		39.44
Others (Dividend, Taxes & CSR)	153.62		77.93
Sundry balances written off / written back	39.24		3.03
Preliminary Expenses written off	18.45	528.04	18.45	206.68
Operating profit before working capital changes
		882.08		447.80
Adjustments for:
Decrease (Increase) in Investments	$-0.05$		0.00
Decrease (Increase) in Loans & Advances	$-330.01$		$-66.31$
Decrease (Increase) in Receivables	22.21		563.79
Decrease (Increase) in Inventories	54.42		323.47
Decrease (Increase) in Other Current Assets	2.10		8.37
Increase / (Decrease) in Deferred Tax Liabilities	$-8.81$		24.43
Increase / (Decrease) in Trade Payables	42.03		$-311.93$
		$-218.11$		541.82
Operating profit after working capital changes		663.97		989.62
B.) CASH FLOW FROM INVESTING ACTIVITIES
(Purchase) Of Fixed Assets	$-271.15$		$-1,063.97$
Sale of fixed asets	2.93		116.37
(Investment) in Intangibles	$-133.01$		$-141.95$
Net cash from investing activities		$-401.23$		$-1,089.56$
C.) CASH FLOW FROM FINANCIAL ACTIVITIES
Proceeds from current borrowings	0.00
Repayment of current borrowings	$-535.17$		594.04
Interest Paid	$-19.19$		$-99.21$
			$-32.42$
Net cash used in financial activities C		$-554.36$		462.41
Net increase/(decrease) in Cash and Cash Equivalents
Cash and cash equivalent at the beginning of the year		$-291.62$		362.47
Cash and cash equivalent at the end of the year		522.29		159.82
		230.67		522.29

For Nitiraj Engineers Limited, holbsk

(Rajesh R. Bhatwal) Managing Director Din No.00547575 Mumbai 22nd June, 2021