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Permanent Magnets Ltd. — Interim / Quarterly Report 2020
Jun 26, 2020
61290_rns_2020-06-26_47b44fa0-2279-45b3-9a62-1b4e9f840073.pdf
Interim / Quarterly Report
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PERMANENT MAGNETS LIMITED
B-3, MIDC, Village Mira, Mira Road East, Thane - 401104, Maharashtra, India
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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : [email protected] Website : www.pmlindia.com
Date : 26[th] June, 2020
To,
Corporate Relation Department The Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
Security Code : 504132 Security ID : PERMAGN
Sub: Audited Standalone Financial Results for the quarter and year ended March 31, 2020
Dear Sir/Madam,
Pursuant to Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we are enclosing herewith the following:
-
Audited Standalone financial results of the company for the quarter and year ended March 31, 2020.
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Statutory Auditor’s Report of M/s. Ramanand & Associates, Chartered Accountant on the Standalone Financial Results for the quarter and year ended March 31, 2020.
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Declaration as required under Regulation 33 (3) (d) of the SEBI (Listing Obligations & Disclosure Requirements) (Amendment) Regulations, 2016 and SEBI circular no. CIR/CFD/CMD/56/2016 dated May 27, 2016.
Kindly take the same on record.
Thanking you,
Yours Faithfully,
FOR PERMANENT MAGNETS LIMITED
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RACHANA RANE COMPANY SECRETARY
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RegdOffice: Harsh Avenue, 302, 3[rd] Floor, opp. Silvassa Police Station, SilvassaVapi Main Road, Silvassa- 396 230. Dadra and Nagar Haveli (U.T.) (All correspondence has to be made at our Mira Road address only) CIN-L27100DN1960PLC000371
Permanent Magnets Limited
Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020
| Permanent Magnets Limited Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020 |
Permanent Magnets Limited Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020 |
Permanent Magnets Limited Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020 |
Permanent Magnets Limited Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020 |
Permanent Magnets Limited Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020 |
Permanent Magnets Limited Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020 |
Permanent Magnets Limited Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020 |
|---|---|---|---|---|---|---|
| (Rs. In lakh) | ||||||
| Sr. | Particulars | Quarter Ended on | Year Ended | Year Ended | ||
| 31.03.2020 (Audited) |
31.03.2019 (Audited) |
31.12.2019 (Unaudited) |
31.03.2020 (Audited) |
31.03.2019 (Audited) |
||
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 |
(a) Gross Sales/Income from Operations (b) Other Income Total Income Expenditure (a) Consumption of Raw Material (b) Purchase of stock-in-trade (c) Changes in inventories of Finished Goods, work-in- progress and stock-in-trade (d) Employee cost (e) Finance Cost (f) Depreciation & Amortisation Expenses (g) Other Expenditure Total Expenditures Profit / (Loss) from Operations before Exceptional and Tax (1-2) Exceptional Items Profit before tax (3+4) Tax expenses Current Tax Deferred Tax Profit/(Loss) for the period from Continuing Operations ( after tax ) (5-6) Profit/(Loss) from Discontinuing Operation Tax Expenses of Discontinuing Operation Profit/(Loss) from Discontinuing Operations ( after tax ) (8-9) Profit/(Loss) for the period (7+10) Other Comprehensive Income (OCI) Net Profit/(Loss) ( Including Comprehensive Income )( 11+12) Paid-up Equity Share Capital (Face Value of Rs. 10/- each) Total Reserves ( excluding revaluation reserve) (i) Earning Per Share (before and after Extra Ordinary Items) - Basic - Diluted |
2,299.17 132.25 |
3,510.32 30.36 |
2,705.92 54.38 |
10,656.05 270.24 |
12,084.10 99.21 |
| 2,431.42 | 3,540.68 | 2,760.29 | 10,926.29 | 12,183.31 | ||
| 1,101.98 - (52.03) 174.27 81.33 175.32 457.06 |
1,660.20 - 79.39 176.03 35.28 36.77 769.17 |
1,200.23 - (2.89) 207.67 10.80 55.02 773.92 |
5,166.77 - (104.85) 762.82 132.88 298.71 2,776.50 |
6,461.05 - (81.89) 712.44 130.80 156.18 2,724.75 |
||
| 1,937.94 | 2,756.84 | 2,244.74 | 9,032.83 | 10,103.33 | ||
| 493.48 | 783.84 | 515.55 | 1,893.46 | 2,079.98 | ||
| 493.48 | 783.84 | 515.55 | 1,893.46 | 2,079.98 | ||
| 99.77 | 250.04 | 131.78 | 461.49 | 599.52 | ||
| 128.55 | 251.58 | 133.80 | 485.31 | 613.76 | ||
| (28.77) | (1.55) | (2.02) | (23.81) | (14.25) | ||
| 393.72 | 533.80 | 383.77 | 1,431.97 | 1,480.46 | ||
| - - |
- - |
- - |
- - |
- - |
||
| - | - | - | - | - | ||
| 393.72 (3.51) |
533.80 4.98 |
383.77 - |
1,431.97 (3.51) |
1,480.46 4.98 |
||
| 390.21 | 538.78 | 383.77 | 1,428.46 | 1,485.44 | ||
| 859.85 4.54 4.54 |
859.85 6.27 6.27 |
859.85 4.46 4.46 |
859.85 16.61 16.61 |
859.85 2,465.20 17.28 17.28 |
||
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| Particulars As at 31.03.2020 As at 31.03.2019 ASSET (1) Non Current Assets (a) Property, Plant and Equipment 503.03 508.89 (b) Other Intangible assets 10.40 6.72 (c) Right-of-use Assets 416.22 - (d) Financial Assets - - (i) Loans 66.28 62.16 (ii) Others - - (e) Deferred Tax Assets (Net) 150.13 106.00 (f) Other Non-Current Assets 57.03 54.60 1,203.08 738.37 - (2) Current Assets (a) Inventories 1,924.77 1,754.75 (b) Financial Assets (i) Trade Receivables 2,729.69 3,183.30 (ii) Cash and Cash Equivalents 198.23 80.58 (iii) Bank Balances 615.75 195.30 (iv) Loans 56.78 64.92 (c) Other Current Assets 582.64 673.59 6,107.86 5,952.44 - Total Assets 7,310.94 6,690.80 - EQUITY AND LIABILITIES (1) Equity (a) Equity Share Capital 859.85 859.85 (b) Other Equity 3,927.47 2,465.20 4,787.32 3,325.05 - Liabilities (2) Non Current Liabilities (a) Financial Liabilities (i) Borrowings 185.24 224.14 (ii) Other Financial Liabilities 304.02 - (b) Provisions 83.94 70.70 (c) Deferred Tax Liabilities (Net) - - (c) Other Non Current Liabilities - - 573.20 294.84 - (3) Current Liabilities (a) Financial Liabilities (i) Borrowings 10.74 583.55 (ii) Trade Payables(Current) 1,498.31 1,962.28 (iii) Other Financial Liabilities 317.85 158.79 (b) Other Current Liabilities 84.82 44.69 (c) Provisions 1.78 5.18 (d) Current Tax Liabilities 36.94 316.44 1,950.42 3,070.92 - Total Equityand Liabilities 7,310.94 6,690.80 Standalone Statement of Assets and Liabilities |
Particulars As at 31.03.2020 As at 31.03.2019 ASSET (1) Non Current Assets (a) Property, Plant and Equipment 503.03 508.89 (b) Other Intangible assets 10.40 6.72 (c) Right-of-use Assets 416.22 - (d) Financial Assets - - (i) Loans 66.28 62.16 (ii) Others - - (e) Deferred Tax Assets (Net) 150.13 106.00 (f) Other Non-Current Assets 57.03 54.60 1,203.08 738.37 - (2) Current Assets (a) Inventories 1,924.77 1,754.75 (b) Financial Assets (i) Trade Receivables 2,729.69 3,183.30 (ii) Cash and Cash Equivalents 198.23 80.58 (iii) Bank Balances 615.75 195.30 (iv) Loans 56.78 64.92 (c) Other Current Assets 582.64 673.59 6,107.86 5,952.44 - Total Assets 7,310.94 6,690.80 - EQUITY AND LIABILITIES (1) Equity (a) Equity Share Capital 859.85 859.85 (b) Other Equity 3,927.47 2,465.20 4,787.32 3,325.05 - Liabilities (2) Non Current Liabilities (a) Financial Liabilities (i) Borrowings 185.24 224.14 (ii) Other Financial Liabilities 304.02 - (b) Provisions 83.94 70.70 (c) Deferred Tax Liabilities (Net) - - (c) Other Non Current Liabilities - - 573.20 294.84 - (3) Current Liabilities (a) Financial Liabilities (i) Borrowings 10.74 583.55 (ii) Trade Payables(Current) 1,498.31 1,962.28 (iii) Other Financial Liabilities 317.85 158.79 (b) Other Current Liabilities 84.82 44.69 (c) Provisions 1.78 5.18 (d) Current Tax Liabilities 36.94 316.44 1,950.42 3,070.92 - Total Equityand Liabilities 7,310.94 6,690.80 Standalone Statement of Assets and Liabilities |
Particulars As at 31.03.2020 As at 31.03.2019 ASSET (1) Non Current Assets (a) Property, Plant and Equipment 503.03 508.89 (b) Other Intangible assets 10.40 6.72 (c) Right-of-use Assets 416.22 - (d) Financial Assets - - (i) Loans 66.28 62.16 (ii) Others - - (e) Deferred Tax Assets (Net) 150.13 106.00 (f) Other Non-Current Assets 57.03 54.60 1,203.08 738.37 - (2) Current Assets (a) Inventories 1,924.77 1,754.75 (b) Financial Assets (i) Trade Receivables 2,729.69 3,183.30 (ii) Cash and Cash Equivalents 198.23 80.58 (iii) Bank Balances 615.75 195.30 (iv) Loans 56.78 64.92 (c) Other Current Assets 582.64 673.59 6,107.86 5,952.44 - Total Assets 7,310.94 6,690.80 - EQUITY AND LIABILITIES (1) Equity (a) Equity Share Capital 859.85 859.85 (b) Other Equity 3,927.47 2,465.20 4,787.32 3,325.05 - Liabilities (2) Non Current Liabilities (a) Financial Liabilities (i) Borrowings 185.24 224.14 (ii) Other Financial Liabilities 304.02 - (b) Provisions 83.94 70.70 (c) Deferred Tax Liabilities (Net) - - (c) Other Non Current Liabilities - - 573.20 294.84 - (3) Current Liabilities (a) Financial Liabilities (i) Borrowings 10.74 583.55 (ii) Trade Payables(Current) 1,498.31 1,962.28 (iii) Other Financial Liabilities 317.85 158.79 (b) Other Current Liabilities 84.82 44.69 (c) Provisions 1.78 5.18 (d) Current Tax Liabilities 36.94 316.44 1,950.42 3,070.92 - Total Equityand Liabilities 7,310.94 6,690.80 Standalone Statement of Assets and Liabilities |
||
|---|---|---|---|---|
| Particulars As at 31.03.2020 As at 31.03.2019 ASSET (1) Non Current Assets (a) Property, Plant and Equipment 503.03 508.89 (b) Other Intangible assets 10.40 6.72 (c) Right-of-use Assets 416.22 - (d) Financial Assets - - (i) Loans 66.28 62.16 (ii) Others - - (e) Deferred Tax Assets (Net) 150.13 106.00 (f) Other Non-Current Assets 57.03 54.60 1,203.08 738.37 - (2) Current Assets (a) Inventories 1,924.77 1,754.75 (b) Financial Assets (i) Trade Receivables 2,729.69 3,183.30 (ii) Cash and Cash Equivalents 198.23 80.58 (iii) Bank Balances 615.75 195.30 (iv) Loans 56.78 64.92 (c) Other Current Assets 582.64 673.59 6,107.86 5,952.44 - Total Assets 7,310.94 6,690.80 - EQUITY AND LIABILITIES (1) Equity (a) Equity Share Capital 859.85 859.85 (b) Other Equity 3,927.47 2,465.20 4,787.32 3,325.05 - Liabilities (2) Non Current Liabilities (a) Financial Liabilities (i) Borrowings 185.24 224.14 (ii) Other Financial Liabilities 304.02 - (b) Provisions 83.94 70.70 (c) Deferred Tax Liabilities (Net) - - (c) Other Non Current Liabilities - - 573.20 294.84 - (3) Current Liabilities (a) Financial Liabilities (i) Borrowings 10.74 583.55 (ii) Trade Payables(Current) 1,498.31 1,962.28 (iii) Other Financial Liabilities 317.85 158.79 (b) Other Current Liabilities 84.82 44.69 (c) Provisions 1.78 5.18 (d) Current Tax Liabilities 36.94 316.44 1,950.42 3,070.92 - Total Equityand Liabilities 7,310.94 6,690.80 Standalone Statement of Assets and Liabilities |
||||
| Particulars | As at 31.03.2020 |
As at 31.03.2019 |
||
| ASSET (1) Non Current Assets (a) Property, Plant and Equipment (b) Other Intangible assets (c) Right-of-use Assets (d) Financial Assets (i) Loans (ii) Others (e) Deferred Tax Assets (Net) (f) Other Non-Current Assets (2) Current Assets (a) Inventories (b) Financial Assets (i) Trade Receivables (ii) Cash and Cash Equivalents (iii) Bank Balances (iv) Loans (c) Other Current Assets |
503.03 10.40 416.22 - 66.28 - 150.13 57.03 |
508.89 6.72 - - 62.16 - 106.00 54.60 |
||
| 1,203.08 | 738.37 | |||
| 1,924.77 2,729.69 198.23 615.75 56.78 582.64 |
1,754.75 3,183.30 80.58 195.30 64.92 673.59 |
|||
| 6,107.86 | 5,952.44 | |||
| Total Assets | 7,310.94 | 6,690.80 | ||
| EQUITY AND LIABILITIES (1) Equity (a) Equity Share Capital (b) Other Equity Liabilities (2) Non Current Liabilities (a) Financial Liabilities (i) Borrowings (ii) Other Financial Liabilities (b) Provisions (c) Deferred Tax Liabilities (Net) (c) Other Non Current Liabilities (3) Current Liabilities (a) Financial Liabilities (i) Borrowings (ii) Trade Payables(Current) (iii) Other Financial Liabilities (b) Other Current Liabilities (c) Provisions (d) Current Tax Liabilities |
859.85 3,927.47 |
859.85 2,465.20 |
||
| 4,787.32 | 3,325.05 | |||
| 185.24 304.02 83.94 - - |
224.14 - 70.70 - - |
|||
| 573.20 | 294.84 | |||
| 10.74 1,498.31 317.85 84.82 1.78 36.94 |
583.55 1,962.28 158.79 44.69 5.18 316.44 |
|||
| 1,950.42 | 3,070.92 | |||
| Total Equityand Liabilities | 7,310.94 | 6,690.80 | ||
| Particulars 31.03.2020 31.03.2019 INR INR CASH FLOW FROM OPERATING ACTIVITIES Profit before tax and extraordinary items 1,889.95 2,084.96 Adjustment for : Depreciation & Amortization 298.71 156.18 Impairement 2.55 - Loss/(Profit) on Sale of Assets (1.38) (4.13) Finance Charges 132.88 151.07 Misc balance w/off 1.60 5.62 (Profit)/loss on lease modification & Others 13.49 - Short /Excess provision of earlier years (0.52) - Unrealised Foreign Exchange Gain (103.38) (30.83) Operating Profit before working Capital Changes 2,233.92 2,362.87 Adjustment for: Inventories (170.02) (415.89) Trade Receivables 553.59 (289.50) Other Assets (887.84) 110.92 Trade Payables (462.17) (427.24) Other Liabilities 367.04 264.44 1,634.51 1,605.60 Direct Taxes Paid 484.79 613.76 Net cash flow from Operating Activities 1,149.72 991.84 CASH FLOW FROM INVESTMENT ACTIVITIES Sale of/ (Additions to) Fixed Assets (153.99) (198.94) Sale of/ (Additions to) investments (net) - - Net cash used in investing activities (153.99) (198.94) CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Long Term Borrowings (Net) (38.89) (27.41) Proceeds from Short Term Borrowings (Net) (572.81) (539.07) Finance Charges paid (Net) (132.88) (151.07) Repayment of Lease liabilities (133.50) - Net cash from Financing Activities (878.08) (717.55) NET INCREASE IN CASH AND CASH EQUIVALENTS 117.65 75.35 Opening Cash and Cash Equivalents 80.58 5.23 ClosingCash and Cash Equivalents 198.23 80.58 Standalone Statement of Cashflow |
Particulars 31.03.2020 31.03.2019 INR INR CASH FLOW FROM OPERATING ACTIVITIES Profit before tax and extraordinary items 1,889.95 2,084.96 Adjustment for : Depreciation & Amortization 298.71 156.18 Impairement 2.55 - Loss/(Profit) on Sale of Assets (1.38) (4.13) Finance Charges 132.88 151.07 Misc balance w/off 1.60 5.62 (Profit)/loss on lease modification & Others 13.49 - Short /Excess provision of earlier years (0.52) - Unrealised Foreign Exchange Gain (103.38) (30.83) Operating Profit before working Capital Changes 2,233.92 2,362.87 Adjustment for: Inventories (170.02) (415.89) Trade Receivables 553.59 (289.50) Other Assets (887.84) 110.92 Trade Payables (462.17) (427.24) Other Liabilities 367.04 264.44 1,634.51 1,605.60 Direct Taxes Paid 484.79 613.76 Net cash flow from Operating Activities 1,149.72 991.84 CASH FLOW FROM INVESTMENT ACTIVITIES Sale of/ (Additions to) Fixed Assets (153.99) (198.94) Sale of/ (Additions to) investments (net) - - Net cash used in investing activities (153.99) (198.94) CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Long Term Borrowings (Net) (38.89) (27.41) Proceeds from Short Term Borrowings (Net) (572.81) (539.07) Finance Charges paid (Net) (132.88) (151.07) Repayment of Lease liabilities (133.50) - Net cash from Financing Activities (878.08) (717.55) NET INCREASE IN CASH AND CASH EQUIVALENTS 117.65 75.35 Opening Cash and Cash Equivalents 80.58 5.23 ClosingCash and Cash Equivalents 198.23 80.58 Standalone Statement of Cashflow |
Particulars 31.03.2020 31.03.2019 INR INR CASH FLOW FROM OPERATING ACTIVITIES Profit before tax and extraordinary items 1,889.95 2,084.96 Adjustment for : Depreciation & Amortization 298.71 156.18 Impairement 2.55 - Loss/(Profit) on Sale of Assets (1.38) (4.13) Finance Charges 132.88 151.07 Misc balance w/off 1.60 5.62 (Profit)/loss on lease modification & Others 13.49 - Short /Excess provision of earlier years (0.52) - Unrealised Foreign Exchange Gain (103.38) (30.83) Operating Profit before working Capital Changes 2,233.92 2,362.87 Adjustment for: Inventories (170.02) (415.89) Trade Receivables 553.59 (289.50) Other Assets (887.84) 110.92 Trade Payables (462.17) (427.24) Other Liabilities 367.04 264.44 1,634.51 1,605.60 Direct Taxes Paid 484.79 613.76 Net cash flow from Operating Activities 1,149.72 991.84 CASH FLOW FROM INVESTMENT ACTIVITIES Sale of/ (Additions to) Fixed Assets (153.99) (198.94) Sale of/ (Additions to) investments (net) - - Net cash used in investing activities (153.99) (198.94) CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Long Term Borrowings (Net) (38.89) (27.41) Proceeds from Short Term Borrowings (Net) (572.81) (539.07) Finance Charges paid (Net) (132.88) (151.07) Repayment of Lease liabilities (133.50) - Net cash from Financing Activities (878.08) (717.55) NET INCREASE IN CASH AND CASH EQUIVALENTS 117.65 75.35 Opening Cash and Cash Equivalents 80.58 5.23 ClosingCash and Cash Equivalents 198.23 80.58 Standalone Statement of Cashflow |
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|---|---|---|---|---|
| Particulars 31.03.2020 31.03.2019 INR INR CASH FLOW FROM OPERATING ACTIVITIES Profit before tax and extraordinary items 1,889.95 2,084.96 Adjustment for : Depreciation & Amortization 298.71 156.18 Impairement 2.55 - Loss/(Profit) on Sale of Assets (1.38) (4.13) Finance Charges 132.88 151.07 Misc balance w/off 1.60 5.62 (Profit)/loss on lease modification & Others 13.49 - Short /Excess provision of earlier years (0.52) - Unrealised Foreign Exchange Gain (103.38) (30.83) Operating Profit before working Capital Changes 2,233.92 2,362.87 Adjustment for: Inventories (170.02) (415.89) Trade Receivables 553.59 (289.50) Other Assets (887.84) 110.92 Trade Payables (462.17) (427.24) Other Liabilities 367.04 264.44 1,634.51 1,605.60 Direct Taxes Paid 484.79 613.76 Net cash flow from Operating Activities 1,149.72 991.84 CASH FLOW FROM INVESTMENT ACTIVITIES Sale of/ (Additions to) Fixed Assets (153.99) (198.94) Sale of/ (Additions to) investments (net) - - Net cash used in investing activities (153.99) (198.94) CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Long Term Borrowings (Net) (38.89) (27.41) Proceeds from Short Term Borrowings (Net) (572.81) (539.07) Finance Charges paid (Net) (132.88) (151.07) Repayment of Lease liabilities (133.50) - Net cash from Financing Activities (878.08) (717.55) NET INCREASE IN CASH AND CASH EQUIVALENTS 117.65 75.35 Opening Cash and Cash Equivalents 80.58 5.23 ClosingCash and Cash Equivalents 198.23 80.58 Standalone Statement of Cashflow |
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| Particulars | 31.03.2020 INR |
31.03.2019 INR |
||
| CASH FLOW FROM OPERATING ACTIVITIES Profit before tax and extraordinary items Adjustment for : Depreciation & Amortization Impairement Loss/(Profit) on Sale of Assets Finance Charges Misc balance w/off (Profit)/loss on lease modification & Others Short /Excess provision of earlier years Unrealised Foreign Exchange Gain Operating Profit before working Capital Changes Adjustment for: Inventories Trade Receivables Other Assets Trade Payables Other Liabilities Direct Taxes Paid Net cash flow from Operating Activities CASH FLOW FROM INVESTMENT ACTIVITIES Sale of/ (Additions to) Fixed Assets Sale of/ (Additions to) investments (net) Net cash used in investing activities CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Long Term Borrowings (Net) Proceeds from Short Term Borrowings (Net) Finance Charges paid (Net) Repayment of Lease liabilities Net cash from Financing Activities NET INCREASE IN CASH AND CASH EQUIVALENTS Opening Cash and Cash Equivalents ClosingCash and Cash Equivalents |
1,889.95 298.71 2.55 (1.38) 132.88 1.60 13.49 (0.52) (103.38) |
2,084.96 156.18 - (4.13) 151.07 5.62 - - (30.83) |
||
| 2,233.92 | 2,362.87 | |||
| (170.02) 553.59 (887.84) (462.17) 367.04 |
(415.89) (289.50) 110.92 (427.24) 264.44 |
|||
| 1,634.51 | 1,605.60 | |||
| 484.79 | 613.76 | |||
| 1,149.72 | 991.84 | |||
| (153.99) - |
(198.94) - |
|||
| (153.99) | (198.94) | |||
| (38.89) (572.81) (132.88) (133.50) |
(27.41) (539.07) (151.07) - |
|||
| (878.08) | (717.55) | |||
| 117.65 80.58 198.23 |
75.35 5.23 80.58 |
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Notes:
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1 The above results for the quarter and year ended 31st March, 2020, have been reviewed and recommended by the Audit Committee, approved by the Board of Directors at their Meeting held on 26/06/2020 and have been subjected to Limited Review by the Statutory Auditors.
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2 This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rule ,2015 (Ind AS) prescribed under Section 133 of Companies Act ,2013, read with rule 3 of the Companies (Indian Accounting Standards) Rules,2015 and Companies (Indian Accounting Standards) Rule ,2016.
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3 The Company has been operating in single business Segment i.e. Magnetics and its applications. Segment reporting as per IND AS 108 is not applicable.
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4 The figures for the quarter ended March 31, 2020 and March 31,2019 are the balancing figures between audited figures in respect of full financial year ended March 31,2020 and March 31,2019 respectively and the unaudited published year to date figures upto December 31, 2019 and December 31,2018 respectively , being the end of the third quarter of the respective financial year, which were subjected to Limited Review.
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5 Honourable Bombay High Court has given interim stay order against the winding up order passed against the Company dated 15/04/2015. Next hearing in this matter shall come up as per listing of the court. Company has deposited Rs. 19,05,179/- Lac with interest as per direction of honourable Bombay High Court.
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6 Effective April 1,2019 , the Company has applied IND AS 116" Lease " to all applicable lease contracts existing on April 1,2019 using the modified retrospective method .Accordingly , the cumulative adjustment on application of the standards has been adjusted to retained earning on the date of initial application and comparative numbers have not been retrospectively adjusted. The applicable IND AS 116 did not have significant impact on the profit and earnings per share for the quarter ended and year ended March 31,2020
| Particulars | Amount in Lakh |
|---|---|
| Right to Use Assets | 559.94 |
| Lease Liabilities recognised | 304.02 |
| Impact on Retained Earning (net of taxes) | (60.42) |
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7 India and other global markets have experienced significant disruption due to the Covid-19 pandemic. Considering the area of operation of the company, currently management believes that it will not have a significant impact on the company and its going concern in the long run. However, the Company does estimate some impact on its performance in the short to medium term. In order to mitigate the said risk, company is focusing on controlling costs, pushing new geographies and re-aligning its product portfolio to suit the requirements in the current scenario. Company is closely monitoring Covid-19 related developments, its operations, liquidity and capital resources to mitigate the overall impact of this unprecedented situation
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8 Tho Company has decided to opt new taxation scheme of Section 115BAA of the Income Tax Act 1961, Introduced by the Taxation Laws (Amendment) Ordinance 2019, effective from financial year 2019-20
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9 The figures for the previous period / year have been regrouped wherever necessary to confirm to the current year's classification.
| For Permanent Magnets Limited | ||
|---|---|---|
| Place | : Mumbai | Sharad Taparia |
| Date: | 26.06.2020 | (ManagingDirector) |
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Independent Auditor’s Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To
The Board of Directors of Permanents Magnets Limited
Report on the audit of the Standalone Financial Results Opinion
We have audited the accompanying statement of quarterly and year to date standalone financial results of Permanent Magnets Limited (the “Company”) for the quarter and year ended March 31, 2020 (“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 (the “Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us, the Financial Results:
i.are presented in accordance with the requirements of the Listing Regulations in this regard; and ii.gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2020.
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, as amended (“the Act”). Our responsibilities under those Standards are further described in the “Auditor’s Responsibilities for the Audit of the Standalone 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 statements 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 obtained by us is sufficient and appropriate to provide a basis for our opinion.
Emphasis of Matter
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We draw attention to Note no. 5 of Financial Result which states that Honourable Bombay High Court had given interim stay order against winding up order and hearing in this matter shall come up as per listing of the court.
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We draw your attention to Note no.7 of the Financial Results, which states the impact of Coronavirus disease 2019 (COVID-19) on the operations of the Company.
Our opinion is not modified in respect of this matter.
Management’s Responsibilities for the Standalone Financial Results
The Financial Results 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 theseFinancial Results that gives a true and fair view of the net profit and other comprehensive loss 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 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 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 Financial Results, 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 Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Financial Results as a whole is 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 the 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 Statement, 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 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 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 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 Statement, including the disclosures, and whether the Statement represents 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 Matter
The Financial Results includes the results for the quarter ended March 31, 2020 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2020 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
For Ramanand & Associates
Chartered Accountants ICAI Firm Reg. No. 117776W
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CA Karan Verma Partner M. No. 161335 Place: Mumbai Date: 26/06/2020
PERMANENT MAGNETS LIMITED
B-3, MIDC, Village Mira, Mira Road East, Thane - 401104, Maharashtra, India
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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : [email protected] Website : www.pmlindia.com
Declaration
Date : 26[th] June, 2020
To,
Corporate Relation Department The Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
Sub: Declaration pursuant to Regulation 33(3) (d) of the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016 ["LODR"]
Dear Sir/Madam,
In compliance with Regulation 33(3) (d) of LODR as amended by the SEBI Circular No. CIR/CFD/CMD/56/2016 we hereby declare that, Statutory Auditors of the Company M/s. Ramanand & Associates, Chartered Accountants (FRN: 117776W) have issued an Audit Report with unmodified opinion on the Audited (Standalone) Financial Results of the Company for the year ended 31[st] March, 2020.
You are requested to take the same on record & oblige.
Thanking you,
Yours Faithfully,
FOR PERMANENT MAGNETS LIMITED
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RACHANA RANE COMPANY SECRETARY
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RegdOffice: Harsh Avenue, 302, 3[rd] Floor, opp. Silvassa Police Station, SilvassaVapi Main Road, Silvassa- 396 230. Dadra and Nagar Haveli (U.T.) (All correspondence has to be made at our Mira Road address only) CIN-L27100DN1960PLC000371