ORIENT CEMENT LIMITED — Interim / Quarterly Report 2019

Feb 8, 2019

CK BIRLA GROUP I ORIENT

CEMENT

February 8, 2019

p5,,

Rotunda Building, P J Towers, Dalal Bandra — Street, Fort Mumbai-400001 Mumbai — Security Code: 535754 Symbol: ORIENTCEM

Bombay Stock Exchange Limited National Stock Exchange of India Limited New Trading Ring, "Exchange Plaza", Plot No. C-1, Block G Kurla Complex, Bandra (East), 400 051

Sub: Unaudited Financial Results and Limited Review Report for the quarter and I nine months ended December 31, 2018

Dear Sir(s),

The Board of Directors of the Company at their meeting held today, i.e., on February 8, 2019, that commenced at 12:00 noon and concluded at 1:40 pm, inter alia has approved the following:

• 1. The un—audited financial results for the quarter and nine months ended December 31, 2018, along with Limited Review Audit Report. A copy of the unaudited financial results for the quarter and nine months ended December 31, 2018 and the Limited Review Audit Report thereon issued by Statutory Auditors of the Company are enclosed herewith. The said information is alsoiavailable on Company's website, www.0rientcement.com; and on the Stock Exchange website, www.nseindia.com and www.bseindia.com.
• . Appointment of Karvy Fintech Private Limited as the new Registrar and Share Transfer Agent ("RTA") of the Company in place of MCS Share Transfer Agent Private Limited ("MCS"), the existing RTA, for betterment of services to the shareholders. Appointment of Karvy as new RTA will be effective upon completion of required regulatory formalities/process for change of RTA, including signing of necessary agreements and therefore the effective date of such appointment shall be informed in due course.
• . Appointment of Mrs. Varsha Purandare, as an Additional Director of the Company in the category of woman independent Director w.e.f. February 8, 2019 for a period of 5 (five) years subject to the approval of shareholders at the forthcoming general meeting. Mrs. Varsha Purandare has varied experience of 36 years in credit, forex, treasury, capital markets, investment banking, and private equity

Corporate Office: Birla Tower, 3rd ft, 25 Barakhamba Road, New Delhi 110001, India. 01142092100 Registered Office: Unit Vlil, Plot No.7, Bhoinagar, Bhubaneshwar, Odisha 751012, India. www.0rientcement.com C I N NozL2694OOR201'IPLC013933

businesses of State Bank of India (SBI) & SBICAPS across geographies domestic & globally.

CEMENT

CK BIRLA GROUP l ORIENT

You are requested to take the above information/documents on record.

Thanking you,

Yours sincerely, For Orient gement Limited

Nidhi Bisaria (Company Secretary) Membership No. E5634

Encl. As stated

Orient Cement Limited ' Corporate Office. Birla Tower, 3rd fl, 25 Barakhamba Road, New Delhi110001, India. 01142092100 Registered Office: UnitVlll, Plot No.,7 Bhoinagar, Bhubaneshwar, Odisha 751012 India. www.0rientcement.com ClN No : L269400R2011PLCO'I3933

(1" [L7 L17 . .,r , - w .9 if" n, ' f ,1]; 22, Camac Street cfiafi'ks [La/AL [/ LLM/ ".17 6N (LJQJJC [LIL/6 3rd Floor, Block 'B' Chartered Accountants

l<nll<ala V 700 016' India Tel :+91 33 6134 4000

Limited Review Report — Ind AS Financial Results

Review Report to The Board of Directors Orient Cement Limited

• 1. We have reviewed the accompanying statement of unaudited Ind AS financial results of Orient Cement Limited (the 'Company') for the quarter ended December 31, 2018 and year to date from April 1, 2018 to December 31, 2018 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Regulation'), read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 ('the Circular').
• 1. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS) 34 "Interim Financial Reporting" prescribed under Section 133 'of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015, as amended, read with the Circular is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review 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 is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and 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, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ('lnd AS') specified under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognised accpunting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S.R. BATLIBOI & CO. LLP Chartered Accountants ICAI Firrn registration number: 301003E/E300005

per Saniay Kumar Agarwal Partner Membership No.: 060352 .-, \ New Delhi February 8, 2019

ORIENT CEMENT LIMITED Regd. Office : Unit VIII, Plot 7, Bhcinegar, Bhubaneswar - 751012 (Odisha)]CIN No.: L26940OR2011PLC013933 Unaudited Financial Results for the Quarter and Nine months Ended 31st December, 2018

		Quarter Ended			Nine Months Ended		Year Ended
	Particulars	Dec. 31, 2018	Sept. 30, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1	Income:
(a)	Revenue from Operations	57.067.40	56,077.88	51,152.79	1.77, 135.77	1,59,110.19	2,31,084.51
(b)	Other Income	409.38	245.33	198.36	988.87	1,683.65	2,022.66
	Total Income	57,476.78	56,323.21	51,351.15	1,78,124.64	1,70,793.84	2,33,107.17
$\overline{\mathbf{2}}$	Expenses:Consumption of Raw Materials	7,051.25	7,079,71	6,128.60	22,157.96	19,391.93	27, 252.45
(a)(b)	Increase (-) / decrease (+) in Finished goods and work-in-
	progress	691.26	384.15	656.20	(307.18)	(1, 137.58)	(1,099.76)
(c)	Excise Duty					8,850.21	8,850.21
(d)	Employee benefits expense	3,759.39	3,949.56	3,529,89	11.723.42	10,423.49	13,850.00
(e)	Power & fuel	15,060.41	15,496.23	14,253.52	48,341.23	41, 148, 24	58,071.00
(f)	Packing, Freight & Forwarding Charges	17,730.85	16,871.19	13,602.09	53,270.33	41,675.45	59,370.28
(q)	Finance Cost	2,778.95	3,100.84	3,392.38	8,820.05	10,085.37	12,920.96
(h)	Depreciation and amortisation expenses	3,442.71	3,288.60	3,194.39	9,974.22	9,480.98	12,616.62
(i)	Other expenses	8,985.46	8,721.92	9,070.34	26,043.39	25,697.34	34,272.29
	Total Expenses	59,5CO.28	58,892.20	53,827.41	1,80,023.42	1,65,615.43	2,26,104.05
4	Profit / (Loss) before Tax (1-2)Tax expenses / (Credit)	(2,023.50)	(2.568.99)	(2,476.26)	(1,898.78)	5,178.41	7,003.12
	(a) Current Tax	(21.42)	(555,00)	(533, 85)		1,085.00	1,507.25
	(b) MAT Credit Entitlement	21.42	555.00	533.85		(1,085.00)	(1,507.25)
	(c) Deferred Tax Charge / (Credit)	(652.97)	(894.13)	(709.17)	(455.22)	2,037.56	2,580.98
		(652.97)	(894.13)	(709.17)	(455.22)	2,037.56	2,580.98
5	Net Profit / (Loss) for the period (3-4)	(1,370.53)	(1,674,86)	(1.767.09)	(1,443,56)	3,140.85	4.422.14
6	Other Comprehensive income not to be reclassified to profit orloss in subsequent periods (net of tax)	(12.20)	(12.20)	(27.68)	(36.60)	(79.95)	(49.01)
7	Total Comprehensive Income (5+6)	(1, 382, 73)	(1,687.06)	(1,794,77)	(1.480.16)	3,060.90	4,373.13
B	Paid-up Equity Share Capital (Face value ₹ 1/- per share)	2.048.69	2.048.69	2.048.69	2.048.69	2,048.69	2,048.69
9	Other Equity						1,00,163.57
	10 Earning Per Share - (not annualised)
	Basic (₹)	(0.67)	(0.82)	(0.66)	(0.70)	1.53	2.16
	$Diluted$ (₹)	(0.67)	(0.82)	(0.86)	(0.70)	1.53	2.16

Notes:1 The Company operates in a single segment - manufacture and sale of Cement. The unnaudited financial results of the Company were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at theirThe unaudited financial results of the Company were reviewed by the

The financial results of the Company have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under section 133 of theCompanies Act, 2013 read with the Companies (Indian Accounting St $\overline{3}$

4 Ind AS 115 Revenue from Contracts with Customers, mandatory for reporting periods beginning on or after April 1, 2018, replaces existing revenue recognition requirements. On application of Ind AS 115, there were no significant adjustments required to the retained eamings at April 1, 2018 and also this did not have any

significant impact on recognition and measurement of revenue and related items in the financial results.5 Effective July 1, 2017, sales are recorded net of GST whereas earlier sales were recorded gross of excise duty whic

operations for the nine months ended December 31, 2018 are not comparable with previous period corresponding figures.The results for the quarter ended December 31, 2018 are not comparable with previous period correspondin $\mathbf 6$ NSE website: www.nseindia.com.

New Delhi Date: 8th Feburary, 2019

For and on behalf of the Board of Directors

D. D. Khetrapel ing Director & CEO)ing Director & CEO)DIN No. 02362633