Nitiraj Engineers Limited — Annual Report 2021

Jun 22, 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

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

Pronto

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

CHHATTISGARH Ambikapur : 222508 Raipur : 4045448 Bilaspur 401606 Raigarh 231140

MAHARASHTRA Ahmednagar: 9168648056 2422857 Akola

• BRANCH OFFICES Jalgaon :

Nashik

ORRISSA 2217179 Balangir: 09338885585 2316875 Berhampur :

Jeypore $: 251572$ $2224641$ Samhalnur ·

2541598

• · 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

$\sim$ $^{\circ}_{\circ}$

		Amount in Rs. Lacs
Sr.			Standalone	Consolidated
	Particulars	As on	As on	As on	As on
No.		31.03.2021	31.03.2020	31.03.2021	31.03.2020
		Audited	Audited	Audited	Audited
	EQUITY AND LIABILITIES
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
$\overline{2}$	Share application money pending allotment
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
$\overline{4}$	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

$\ddot{\cdot}$

				→ BRANCH OFFICES ←
CHHATTISGARH			MAHARASHTRA				ORRISSA
Ambikapur: 222508 RaipurBilaspur		4045448401606 Raigarh : 231140	Ahmednagar: 9168648056Akola	2422857	Jalgaon:Nashik:	22171792316875	Balangir: 09338885585Berhampur · 2224641	Jeypore :Sambalnur · 2541598	251572

					Amount in Rs. Lacs
			Standalone	Consolidated
Sr.	Particulars	As on	As on	As on	As on
No.		31.03.2021	31.03.2020	31.03.2021	31.03.2020
		Audited	Audited	Audited	Audited
п	ASSETS
1	Non-Current Assets
	(a) Fixed Assets
	(i) Tangible assets	3,265.10	3,284.93	3,265.10	3,284.93
	(ii) Intangible assets	601.02	468.01	601.02	468.01
	(b) Non Current Investments	201.15	201.10	165.93	175.37
	(c) Long Term Loans & Advances	1,285.38	955.36	1,285.38	955.36
	(d) Other Non Current Assets
	Sub-total-Non Current Assets	5,352.64	4,909.40	5,317.41	4,883.66
$\overline{2}$	Current Assets
	(a) Current Investments
	(b) Inventories	1,368.21	1,422.64	1,368.21	1,422.64
	(c) Trade Receivables	910.22	971.67	910.22	971.67
	(d) Cash & cash equivalents	230.67	522.29	230.67	522.29
	(e) Short Term Loans & Advances
	(f) Other Current Assets	25.01	45.56	25.01	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 Ĵ.

For Nitiraj Engineers Limited,

alphatro

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

Mumbai 22nd June, 2021

$\ddot{\bullet}$

• · 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
$\mathsf{I}$	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
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
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 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) 23094461 BRANCH OFFICES .

CHHATTISGARH Ambikapur : 222508 Raipur : 4045448 Bilaspur

401606 Raigarh : 231140 Akola

MAHARASHTRA Ahmednagar: 9168648056 2422857 CONTRACTOR

Jalgaon: 2217179 Nashik : 2316875 ORRISSA Balangir: 09338885585 Berhampur: 2224641

Jeypore : 251572 Sambalpur: 2541598

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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
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

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,

CRRMition

(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
$\mathbf{II}$	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
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 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

251572 2541598

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

				$\rightarrow$ BRANCH OFFICES $\leftarrow$
CHHATTISGARHAmbikapur :Bilaspur	222508 Raipur	401606 Raigarh :	4045448231140	MAHARASHTRAAhmednagar: 9168648056Akola2422857	JalgaonNashik	22171792316875	ORRISSABalangir: 09338885585Berhampur · 2224641	JeyporeSamhainur

CONSOLIDATED FINANCIAL RESULTS (STATEMENT OF PROFIT AND LOSS)

$Amount$ Rs in Lace

		199116119111111003
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
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
	(b) Diluted (Rs.)	3.32			3.45	2.35
			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,

PRINATA

(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
		2021		2020
A.) CASH FLOW FROM OPERATING ACTIVITIES
Net profit after tax and extraordinary items adjustments
for:		363.52		258.61
Depreciation on Fixed Assets	288.41		142.14
(Profit)/Loss on Sale of assets	$-0.35$		$-91.81$
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		$-311.93$
		$-218.11$
Operating profit after working capital changes		663.97		541.82989.62
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		594.04
Repayment of current borrowings	$-535.17$		$-99.21$
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		$-291.62$
Cash and cash equivalent at the beginning of the year		522.29		362.47
Cash and cash equivalent at the end of the year		230.67		159.82
				522.29

For Nitiraj Engineers Limited, N

(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

$\ddot{\ }$

	[Amount in Lacs.]For the year ended 31st March For the year ended 31st March
		2021
A.) CASH FLOW FROM OPERATING ACTIVITIES				2020
Net profit after tax and extraordinary items adjustments
for:
Depreciation on Fixed Assets		354.03		241.11
(Profit)/Loss on Sale of assets	288.41		142.14
Share of (Profit) / Loss of Associates	$-0.35$		$-91.81$
Interest Expense	9.49		17.50
Others (Dividend, Taxes & CSR)	19.19153.62		39.44
Sundry balances written off / written back	39.24		77.93
Preliminary Expenses written off	18.45	528.04	3.03
			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	$-271.15$
Sale of fixed asets	2.93		$-1,063.97$
(Investment) in Intangibles	$-133.01$		116.37
Net cash from investing activities		$-401.23$	$-141.95$
				$-1,089.56$
C.) CASH FLOW FROM FINANCIAL ACTIVITIES
$\frac{1}{2}$Proceeds from current borrowings	0.00		594.04
Repayment of current borrowings	$-535.17$		$-99.21$
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
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, Whom

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