PG Electroplast Limited — Interim / Quarterly Report 2021

Jun 6, 2021

PG ELECTROPLAST LIMITED

CIN-L321 09DL2003PLC 119416 Corporate Office : P-4/2, 4/3,4/4,4/5,4/6, Site-B, UPSIDC Industrial Area, Surajpur Greater Noida-201306, Distt. Gautam Budh Nagar (U.P.) India Phones# 91-120-2569323, Fax# 91-120-2569131 E-mail# info@pgel.in Website# www.pgel.in

June OS, 2021

To, The Manager (Listing) BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

To, The Manager (Listing) National Stock Exchange of India Limited, Exchange Plaza, Sandra Kurla Complex, Sandra (East), Mumba i - 400 051

Scrip Code: 533581

Scrip Symbol: PGEL

By means of BSE Listing Centre

By means of NEAPS

Dear Sir,

Sub: Audited Financial Results for the quarter and Year ended March 31, 2021 and Auditors' Report thereon.

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), this is to inform that Board of Directors of the Company, in their meeting held today i.e. June 05, 2021, has inter-alia considered and approved the Standalone and Consolidated Audited Financial Results for the quarter and year ended on March 31, 2021.

Please find attached:

• Standalone and Consolidated Audited Financial Results for the quarter and year ended on March 31, 2021 along with statement of Assets & Liabilities and Cash Flow Statement,
• Auditors' Report, and
• Declaration about unmodified opinion in audit report.

This is for your information and record please.

Thanking you,

For PG Electroplast limited

(Sanchay Dubey) Company Secretary

• Registered Office DTJ-209, Second Floor DLF Tower-B, Jasola New Delhi-110025 Tele-Fax# 011-41421439

AN IATF 16949/18001/14001 COMPANY

PG Electroplast Limited

L32109DL2003PLC119416

PH/Fax: 91-11-41421439; Email: info@pgel.in; Website: www.pgel.in
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2_021

				(Rs. In Lakhs)
		Quarter Ended		Year Ended
.iIParticulars				Mar 31,2021 Dec 31,2020 Mar31,2020 March 31, 2021	March 31,2020
	(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
I. Income from Operations
(a) Revenue from Operations (net)	32,956.88	18,396.58	18,224.85	70,320.65	63,941.71
(b) Other Income	95.86	59.16	119.01	262.13	246.85
Total Revenue	33052.74	18455.74	18,343.86	70,582.78	64,188.56
II. Expenses:
(a) Cost of Materials consumed	24,087.34	14,027.69	13,325.45	51,831.18	47,606.05
(b) Purchase of stock-in-trade	1,993.60	828.52	1,217.52	3,501.38	3,469.23
(c) Changes in inventories of Finished Goods, Work in progress &Stock in Trade	846.50	(650.07)	(333.25)	318.90	(702.94)
(d) Employee benefits expense	1,912.07	1,585.86	1,549.17	5,499.51	5,394.54
(e) Finance Costs	479.17	463.13	450.69	1,843.58	1,475.45
(f) Depreciation and amortisation expense	476.77	455.08	492.72	1,801.23	1,631.03
(g) Other expenses	1,685.36	1,069.92	1,162.20	4,193.23	4,183.32
Total Expenses	31,480.81	17,780.13	17,864.50	68,989.02	63,056.68
III. Profit/{Loss) before exceptional items and tax {I-II)	1,571.93	675.61	479.36	1,593.76	1,131.88
IV. Exceptional Items	128.85	(24.42)	154.88	81.55	200.93
v. Profit/{Loss) before tax {III-IV)	1,443.08	700.03	324.48	1,512.21	930.95
VI. Tax expense
(1) Current Tax	-	-	(146.87)	-	-
(2) Deferred Tax	399.16	50.28	762.58	350.46	669.48
VII. Profit 1 {Loss) for the period (V-VI)	1,043.92	649.75	{291.23)	1,161.75	261.47
VIII. Other Comprehensive Income
A(i) Items that will not be reclassified to profit or loss	(7.67)	25.00	(18.56)	52.20	(41.09)
(li) Income tax relating to items that will not be reclassified to profitor loss	-	-	3.94	-	-
(iii) Deferred tax on above A(ii)	-	-	(3.94)	-	-
B(i) Items that will reclassified to profit or loss	-	-	-	-	-
(ii) Income tax relating to items that will be reclassified to profit orloss	-	-	-	-	-
Total Other Comprehensive Income	{7.67)	25.00	{18.56)	52.20	{41.09)
IX~ Total Comprehensive Income for the period {VII+VIII)	1,036.25	674.75	{309.79)	1,213.95	220.38
x. Paid up equity share capital: {Face Value Rs. 10 each)	1,969.39	1,952.89	1,952.89	1,969.39	1,952.89
XI. Earnings Per equity share {not annualised)
(a)Basic	5.35	3.33	(1.57)	5.95	1.39
(b) Diluted	5.35	3.33	(1.57)	5.95	1.39

1. The above results have been revrewed by Audrt Commrttee and approved by Board of Drrectors at rts meetrng held on June 05, 2021. The Statutory Auditors have provided their Audit Report.

2. The company does not have more than one "Reportable Operating Segment" in line with the Indian Accounting Standard (IND-AS-108)- "0perating Segments".

3. Consequent to the distruption caused due to Covid-19, the company has made an assessment as at March 31, 2021 of recoverability of the carrying values its assets such as property, plant and equipment, intangible assets, Inventory, trade receivables and other current assets giving due consideration to the internal and external factors. Further, on account of continued spread of Covid-19 disease in the country, the company has made timely and requisite changes which has resulted in consistent growth during the year. The company Is continuously monitoring the situation arising on account of Covid-19 and will make appropriate action required, if any.

4.Exeptional items includes net foreign exchange (gain)/loss and net loss on inventories and property, plant & equipment due to fire.

5.The figures for the last quarter are the balancing figures between audited figures in respect of the full financial year up to 31st March 2021 and unaudited published year-to-date figures up to 31st December 2020, being the date of the end of the third quarter of the financial years which were subjected to limited review.

6.The figures for the corresponding previous periods have been regrouped/ reclassified wherever considered necessary to confirm to the figures represented in the current period.

Place: Greater Noida, U.P. Dated:05th June,2021

j.

I

Regd. : DTJ-209, DLF Tower-B, . New Delhi-110025,

	For PQ Electroplast Limited
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PG Electroplast Limited

. (CIN L32109DL2003PLC119416)

. d. Office: DTJ-209, DLFTower-B, Jasola, New Delhi-110025,

/

•' !'

I ' PH/Fax: 91-11-41421439; Email: info@pgel.in; Website: www.pgel.in ( STATEMENT OF AUDITED STANDALONE FINANC>AL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

Non-current assets
(a) Property, Plant and Equipment	27,257.70	25,321.40
(b) Capital work-in-progress	601.15	548.79
(c) Intangible assets	55.24	56.88
(d) Financial Assets
(I) Trade receivables
(ii) Loans
(iii) Investment	17.45
(iv) Other Financial Assets	311.99	240.54
(e) Deferred tax assets (net)
Other
Current assets
(a) Inventories	9,261.07	8,457.97
(b) Financial Assets
(I) Trade receivables	14,725.64	10,118.62
(il) Cash and cash equivalents	740.45	1,128.94
(iii) Bank balances other than(il) above	755.70	667.34
(iv) Loans	31.32	18.02
(v) Investment
(vi) Others financial assets	475.94	546.38
(c) Other current assets
LIABILITIES
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings	8,983.82	6,936.29
(ii) Other financial liabilities	71.33	124.64
(b) Deferred Tax Liabilities (Net)	493.04	142.58
Current liabilities
(a) Financial Liabilities
(i) Borrowings	6,562.69	10,391.32
(ii) Trade payables	15,334.73	10,631.44
(Ill) Other financial liabilities	4,931.83	2,894.53
(b) Other current liabilities	1,712.95	634.15
	41.03

For Electroplast Limited

Place: Greater Noida, U.P. Dated:05th June,2021

PG ELECTROPLAST LTD

/

I I

I

STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021 CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31 , 2021

Particulars	For the year ended31 March, 2021	For the year endedMarch 31, 2020
Adjustments to reconcile profit before tax to net cash flows
Depreciation/amortization (Includes depreciation of Right to Use)	1801.23
Employees expenses non operating	52.20
Loss on sale of fixed assets & Assets written off	18.69
Profit on sale of fixed assets	(44.37)	(5.23)
Mise balances written off	62.94	53.74
Provision for doubtful debts	38.68	200.28
Provision for doubtful advance to suppliers & capital advance	30.00	56.78
Provision for slow & non moving Inventories	67.75
Loss on fixed assets due to Fire	0.00	71.37
Loss on Inventory due to Fire	146.94	26.46
Liabilities written back		(29.65)
Interest expense on leased liabilities		15.92
Interest expense
Interest income
Operating profit before working capital changes
Movements In working capital :
Increase/ (decrease) in trade Payables	4703.29	1,481.39
Increase/ (decrease) in Long- term provisions, financial liabilities	(161.14)	342.12
Increase/ (decrease) in Short - term provisions	(19.57)	(31.56)736.52
lncrease/(decrease) in Other Current Liabilitieslncrease/(decrease) in Current Liabilities & Provision	1078.79	80.05
Decrease/ (increase) in trade receivables		(1661.73)
Decrease/ (increase) in inventories		(1632.64)
Decrease I (increase) in Long - term loans and advances		129.41
Decrease I (increase) in Short - term loans and advances
lncrease/(decrease) in Other Current Assets
Decrease/ (increase) in loans and advances
Cash generated from/(used in) operations
Direct taxes (paid)/refund
Net cash flow from/(used In) operating activities (A)
Purchase of Property Plant and equipment including CWIP & Intangible assets
Proceeds from sale of Property plant and equipment
Investments made during the year
Bank Deposit having maturity more than 3 months
Interest received
Net cash flow from/(used In) investing activities (B)
Proceeds from Long-term borrowings	5687,58	4,253.87
Repayment of long-term borrowings	(2076.48)	(2,001 .99)
Proceeds from Equity Share Capital	410.63
Short-term borrowings (Net)	(3828.63)	3,578.41
Payment of principal portion of lease liabilities	(92.73)	(64.13)
Payment of interest portion of lease liabilities	(18.13)	(15.92)
Interest paid
Net cash flow from/(used In) In financing activities (C)
Net increase/(decrease) in cash and cash equivalents (A+ B +C)
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
Components of cash and cash equivalents
Cash on hand
With banks:
-on current account
Total cash and cash equivalents

Place: Greater Noida, U.P. Dated:OSth June,2021

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the PG Electroplast Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To

Board of Directors of PG Electroplast Limited DTJ-209, Second Floor, DLFTower, Plot No. 11 Jasola, Delhi-11 0025

Report on the audit of Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of PG Electroplast Limited (the "company") for the quarter ended March 31, 2021 and for the year ended March 31, 2021 ("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 ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the statement:

• i) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• ii) 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 comprehensive income and other financial information for the year ended March 31 , 2021.

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 (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 ofChartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results 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 we have obtained is sufficient and appropriate to provide a basis for our opinion.

Head Office: U-11 9A, Shakarpur, New Delhi-1 10092, Mobile: 99103 679 "'1'c:>r. . Branch Office: LG-CS-24 B, Ansal Plaza (Opp. Dabur India Ltd.), Vaishali, Ghaziabad, U.P. , Pin- tjfGc Phone: +91- 120 - 4121942, E-mail: chitresh. gupta@gstexperts. net, gupta_chitresh@yahoo. in·

Management's Responsibilities for the Standalone Financial Results

------ - ·- ..

These quarterly financial results as well as the year to date standalone financial results have been prepared on the basis of the interim financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' 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 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 standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone 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 is 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 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 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 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 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 statement includes the results for the quarter ended March 31, 2021 being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2021 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 Chitresh Gupta 8: Associates Chartered Accountants Firm's Registration Number: 017079N

Membership No.: 098247 Dated: 05th June 2021 Place:Greater Noida, U.P. U ~..-- UDIN: 21 0 'f 8 2 4 =t A A A A 1'-6300

f · PG Electroplast Limited (CIN L32109DL2003PLC119416)

...:.__.........__ __ ....... ~_

~egd. Office : DTJ-209, DLF Tower-S, Jasola, New Delhi-1100.25, PH/Fax: 91-11-41421439; Email: info@pgel.in; Website: www.pgel.in

STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

(Rs. In Lakhs)
	Quarter Ended			Year Ended
Particulars				Mar 31,2021 Dec 31,2020 Mar 31,2020 March 31, 2021 March :31, 2020
I. Income from Operations	(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
(a) Revenue from Operations (net)			-
	32,956.88	18,396.52		70,320.65	-
(b) Other Income	95.77	59.16	-	261.98	-
Total Revenue	33052.65	18455.68	-	70,582.63	-
II. Expenses:
(a) Cost of Materials consumed	24,087.34	14,027.69	-	51,831.18	-
(b) Purchase of stock-in-trade	1,993.60	828.52	-	3,501.38	-
(c) Changes In inventories of Finished Goods, Work In progress &Stock in Trade	846.50	(650.07)	-	318.90	-
(d) Employee benefits expense	1,912.07	1,585.86	-	5,499.51	-
(e) Finance Costs	479.17	463.13	-	1,843.58	-
(f) Depreciation and amortisation expense	476.77	455.08	-	1,801.23	-
(g) Other expenses	1,685.50	1,070.20	-	4,193.65	-
Total Expenses	31,480.95	17,780.41	-	68,989.44	-
III. Profit/(Loss) before exceptional items and tax (I-II)	1,571.70	675.27	-	1,593.19	-
IV. Exceptional Items	128.85	(24.42)	-	81.55	-
V. Profit/(Loss) before tax (III-IV)	1,442.85	699.69	-	1,511.64	-
VI. Tax expense
(1) Current Tax	-	-	-	-	-
(2) Deferred Tax	399.16	50.28	-	350.46	-
VII. Profit I (Loss) for the period (V-VI)	1,043.69	649.41	-	-1,161.18	-
VIII. Other Comprehensive Income
A(i) Items that will not be reclassified to profit or loss	(7.67)	25.00	-	52.20	-
(II) Income tax relating to Items that will not be reclassified toprofit or loss	-	-	-	-	-
(iii) Deferred tax on above A(ii)	-	-	-	-	-
B(i) Items that will reclassified to profit or loss	-	-	-	-	-
(II) Income tax relating to items that will be reclassified to profit or
loss	-	-	-	-	-
Total Other Comprehensive Income	(7.67)	25.00	-	52.20	-
IX. Total Comprehensive Income for the period (VII+VIII)	1,036.02	674.41	-	1,213.38	-
Profit attributable to:
Owners of the Company	1,043.69	649.41	-	1,161.18	-
Non-controllln·g interests	-	-	-	-	-
Other comprehensive income attributable to:Owners of the Company	(7.67)	25.00		52.20	-
Non-controlling interests	-	-	·"1 -	-	-
Total comprehensive income attributable to:
Owners of the Company	1,036.02	674.41	-	1,213.38	-
Non-controlling interests	-	-	-	-	-
X. Paid up equity share capital: (Face Value Rs. 10 each)	1,969.39	1,952.89	-	1,969.39	-
XI. Earnings Per equity share (not annualised)
(a)Basic	5.34	3.33	-	5.95	-
(b) Diluted	5.34	3.33	-	5.95	-

1. The above results have been reviewed by Audit Committee and approved by Board of Directors at Its meeting held on June 05, 2021. The Statutory Auditors have provided their Audit Report.

2. The company does not have more than one "Reportable Operating Segment" In line with the Indian Accounting Standard (IND-AS-108)- "0perating Segments".

3. Consequent to the distruption caused due to Covid-19, the group has made an assessment as at March 31, 2021 of recoverability of the carrying Vi!lues its assets such as property, plant and equipment, Intangible assets, Inventory, trade receivables and other current assets giving -due consideration to the Internal and external factors. Further, on account of continued spread of Covld-19 disease In the country, the company has made timely and requisite changes which has resulted In consistent growth during the year. The company Is continuously monitoring the situation arising on account of Covld-19 and will make appropriate action required, if any.

4. The consolidated financial results are prepared in accordance with the principles and procedures as set out In IND AS 110, notified by Ministry of Corporate Affairs. The consolidated financial results of the company include Its one subsidiary I.e. PG Technoplast Private Limited which became the wholly owned subsidiary of the company w.e.f 17th December 2020, combined on a line by line basis by adding together the book values of like Items of assets, liabilities, income and expenses eliminating Intra-company balances and transactions and resulting unrealized gains/losses. The consolidated financial results are prepared applying uniform accounting policies.Therefore,comparatlve figures for previous 5. Exeptional items includes net foreign exchange (galn)/loss and net loss on Inventories and property, plant & equipment due to fire.

6.The figures for the last quarter are the balancing figures between audited figures In respect of the full financial year up to 31st March 2021 and unaudited published year-to-date figures up to 31st December 2020, being the date of the end of the third quarter of the financial years which were subjected to limited review.

1. The figures for the corresponding previous periods have been regrouped/ reclassified wherever considered necessary to confirm to the figures represented in the current period.

Place: Greater Nolda, Dated :05th June,202

PG Electroplast Limited

· ........ .. ~

(CIN L32109DL2003PLC119416)

Regd. Office : DTJ-209, DLF Tower-B, Jasola, New Delhi-110025, PH/Fax: 91-11-41421439; Email: info@pgel.in; Website: www.pgel.in

STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

Non-current assets
(a) Property, Plant and Equipment	27,257.70
(b) Capital work-in-progress	601.15
(c) Goodwill	0.34
(d) Intangible assets	55.24
(e) Financial Assets
(i) Trade receivables
(ii) Loans
(iii) Investment	15.45
(iv) Other Financial Assets	311.99
(f) Deferred tax assets (net)
Current assets
(a) Inventories	9,261.07
(b) Financial Assets
(i) Trade receivables	14,725.64
(ii) Cash and cash equivalents	741.93
(iii) Bank balances other than(ii) above	755.70
(iv) Loans	31.32
(v) Investment
(vi) Others financial assets	475.94
(c) Other current assets	2,128.65
LIABILITIES
Non-current liabilities
(a) Financial liabilities
(i) Borrowings	8,983.82
(ii) Other financial liabilities	71.27
(b) Deferred Tax Liabilities (Net)	493.04
Current liabilities
(a) Financial liabilities
(i) Borrowings	6,562.69
(ii) Trade payables	15,334.73
(iii) Other financial liabilities	4,931.83
(b) Other current liabilities	1,713.06
	41.03

For PG Electropla t Limited

Place: Greater Noida, U.P. Dated:05th June,2021

PG ELECTROPLAST lTD

STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021 CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2021

Particulars
Profit before tax	1511.64
Adjustments to reconcile profit before tax to net cash flows
Depreciation/amortization (Includes depreciation of Right to Use)	1801 .• 23
Employees expenses non operating	52.20
Loss on sale of fixed assets & Assets written off	18.69
Profit on sale of fixed assets	(44.37)
Provision for Doubtful recoveries
	62.94
	38.68
for doubtful advance to suppliers & capital advance	30.00
	67.75
	0.00
	146.94
	(9.09)
	18.13
	1825.45
Interest income
IOru•r:otir,a profit before working capital changes
Decrease/(increase) in inventories
Decrease I (increase) in Long - term loans and advances
Decrease I (increase) in Short - term loans and advances
lncrease/(decrease) in Other Current Assets
Decrease/(increase) in loans and advances
Cash generated from/(used in) operations
Direct taxes (paid)/ refund
Net cash flow from/( used In) operating activities (A)
of Property Plant and equipment including CWIP & Intangible assets	(4388.78)
from sale of Property plant and equipment
llmrest:me!nts made during the year
Bank Deposit having maturity more than 3 months
Interest received
Net cash flow from/( used in) investing activities (B)
Long-term borrowings
IRE!oa·vment of long-term borrowings
I Prc1l'P .,ds from Equity Share Capital
1 <;hnrt-t<>rm borrowings (Net)
of principal portion of lease liabilities
of interest portion of lease liabilities
paid
cash flow from/(used in) in financing activities (C)
increase/(decrease) in cash and cash equivalents (A+ B +C)
and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
Components of cash and cash equivalents
Cash on hand
With banks:
-on current account
cash and cash

Place: Greater Noida, U.P. Dated :OSth June,2021

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the PG Electroplast Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To

Board of Directors of PG Electroplast Limited DT J-209, Second F~oor, DLF Tower, Plot No. 11, Jasola, Delhi - 11 0025

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results of PG Electroplast Limited ("Holding Company") and its subsidiary (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter ended March 31, 2021 and for the year ended March 31, 2021 ("Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, 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 reports of the other auditor on separate audited financial statements of the subsidiary company, the Statement:

i. includes the results of the following entities;

S.No.	Company Name	Nature
1.	PG Electroplast Limited	Holding Company
2.	PG Technoplast Private Limited	WOS of PG Electroplast Limited

1. are presented in accordance with the requirements of the Listing Regulations in this regard; and

iii. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the quarter ended March 31, 2021 and of the consolidated net profit and other comprehensive income and other financial information of the Group for the year ended March 31 , 2021 .

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as 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 Consolidated Financial Results" section of our report. We areindependent of the Group, 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 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 opinion.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding 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 comprehensive income and other financial information of the Group 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. The respective Board of Directors of the companies included in the Group 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 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, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group 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 Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement 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 Statement.

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 cf & 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 Group 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 Director.
• 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 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 Statement 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 Group 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 represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group of which we are the independent auditors to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditor, 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 Holding Company and such other entities included in the Statement of which we are the independent auditors 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 Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, as amended, to the extent applicable.

Other Matter

The accompanying Statement includes the audited financial results, in respect of one subsidiary, whose financial results include total assets of Rs. 1.54 Lacs as at March 31, 2021, total revenues of Rs. Nil and Rs. Nil, total net loss after tax of Rs. 0.23 Lacs and Rs. 0.57 Lacs, total comprehensive loss of Rs. 0.23 Lacs and Rs. 0.57 Lacs, for the quarter and the year ended on that date respectively, and net cash inflows of Rs. 1.48 Lacs for the year ended March 31, 2021, as considered the Statement which have been audited by their respective independent auditors. The independent auditor's report on the financial statements of this entity have been furnished to us by the Management and our opinion on the Statement in so far as it relates to

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the amounts and disclosures included in respect of this subsidiary is based solely on the reports of such auditor and the procedures performed by us as stated in paragraph above.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the report of the other auditor.

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For Chitresh Gupta & Associates Chartered Accountants Firm's Registration Number: 017079N

CA. Chitresh Gupta

Partner Membership No.: 098247 Dated: ostn June 2021 Place: Greater Noida, U.P. A A L 6 qO 11 UDIN: 2 I 0 'f 8 2 4 T A A u 1

PG ELECTROPLAST LIMITED

CIN-L32109DL2003PLC119416 Corporate Office : P-4/2, 4/3, 4/4, 4/5, 4/6, Site· B, UPSIDC Industrial Area, Surajpur Greater Noida-201306, Distt. Gautam Budh Nagar (U.P.) India Phones# 91·120·2569323, Fax# 91·120·2569131 E·mail # info@pgel.in Website# www.pgel.in

June OS, 2021

To, The Manager (Listing) BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

To, The Manager (Listing) National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

Scrip Code: 533581

Scrip Symbol: PGEL

By means of BSE Listing Centre

By means of NEAPS

Dear Sir,

Sub: Declaration pursuant to Regulation 33(3)(d) of SEBI (listing Obligation and Disclosure Requirements) Regulations 2015

Pursuant to Regulation 33(3)(d) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/56/2016 dated May 27 2016, we hereby declare that Statutory Auditors - Chitresh Gupta & Associates, Chartered Accountants (FRN: 017079) have issued Audit Report with unmodified opinion on the financial results for the quarter and year ended March 31, 2021.

Kindly take the above declaration on your records.

Thanking you,

lectroplast Limited

(Vikas Gupta) Directord*'

• Registered Office DTJ-209, Second Floor DLF Tower·B, Jasola New Delhi-110025 Tele-Fax# 011·41421439

AN IATF 16949/18001/14001 COMPANY