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Poddar Pigments Ltd. Interim / Quarterly Report 2022
61161_rns_2021-11-08_189a88c2-7ff2-431f-976b-b56374263126.pdf
Interim / Quarterly Report
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Ref: PPL/JPR/SECT/2021-22 Dated: 08.11.2021
MUMBAI 400 001 MUMBAI 400 051
BSE Ltd., National Stock Exchange ofIndia Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, Block, 25th Floor, Dalal Street,Fort, Bandra-Kurla Complex, Bandra (E),
Company Code:_524570 CompanySymbol; PODDARMENT
Sub: Disclosure of outcome of Board Meeting dated 08.11.2021.
Dear Sir(s)/ Madam,
In terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 (the 'Listing Regulations'), we wish to inform you that the Board of Directors of the Company in its meeting held on 08.11.2021 at 02.00 P.M. and concluded at 02.45 P.M., approved the Unaudited Financial Results of the Company for the quarter and half year ended 30" September, 2021.
~PODD#&. PIGMENTS LTD.
Pursuant to applicable provisions of the Listing Regulations, we enclose following:
- (a) Statement of Unaudited Financial Results for the quarter and half year ended 30" September, 2021.
- (b) Statement of Assets Liabilities as at 30" September, 2021.
- (c) Statement of Cash Flow for the period ended 30" September, 2021.
- (d) Statement of Unaudited Financial Results for the quarter and half year ended 300 September, 2021 for publication.
- (e) Limited Audit Review Report on Unaudited Financial Results for the quarter and half year ended 30" September, 2021.
We request you to take the same on record.
Thanking you,
Yours faithfully, For PODDAR PIGMENTS LIMITED
(Navin Jai AVP Company Secretary Encl: a/a gal)
Poddar Pigments Ltd.
CIN L24117RJ1991PLC006307 Regd. Office Works E-10-11 F-14 to 16 RIICO industrial Area, Sitapura Jaipur 302 022 Rajasthan, India. Tel.: +91-141-2770202/03/287/291 Fax +91-141-2771922 www.poddarpigmentsltd.com Emoil [email protected]
K-60, 2nd Floor, Connaught Place, Opp. PVR Plaza, New Delhi-110001 Phone: 011-47675720, 23414171E-mail: [email protected] Website: www.migargco.com
TTM TH
Limited review report on unaudited quarterly financial results and year-to-date results under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
TO BOARD OF DIRECTORS OF PODDAR PIGMENTS LIMITED
- We have reviewed the accompanying Statement of Unaudited Financial Results of Poddar Pigments Limited ("the company") for the quarter ended 30th September, 2021 and year to date results for the period from 1st April, 2021 to 30th September, 2021 ("the Statement").
- $\overline{2}$ . The Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, "Interim Financial Reporting" ("Ind As 34") prescribed under section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.
-
- We conducted our review of the statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the independent Auditors 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.
-
- 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 applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
FOR M.L. GARG & CO. CHARTERED ACCOUNTANTS FRN 001604N
$(M.L.GARG)$ PARTNER M.NO.008850 UDIN: 21008850AAAAF03538 DATED: 8TH NOVEMBER, 2021 PLACE : NEW DELHI
| ) D D .A. R | |||||||
|---|---|---|---|---|---|---|---|
| REGD. OFFICE: E-10-11 & F-14-16, RIICO INDUSTRIAL AREA, SITAPURA, JAIPUR (RAJASTHAN)- 302022CIN: L24117RJ1991PLC006307, Tel. No: 0141-2770202/03E-mail address: [email protected], Website address: www.poddarpigmentsltd.com | PODDAR PIGMENTS LIMITED | ||||||
| Statement of Unaudited Financial Results for the Quarter Ended and half year Ended 30th September, 2021(Rs. in Lakh , except per share data) | |||||||
| Period EndedQuarter Ended | Year ended | ||||||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||
| S. No. | Particulars | 30-Sep-21 | $30 - 1$ un-21 | 30-Sep-20 | 30-Sep-21 | 30-Sep-20 | 31-Mar-21 |
| $\mathbf{1}$ | Income from operations | 29,451.72 | |||||
| a) | Revenue from Operations (Gross) | 8,587.16 | 6,863.42 | 6,879.38 | 15,450.58 | 10,832.591,167.81 | 3,381.82 |
| Less: GST | 1,015.58 | 827.25 | 824.70 | 1,842.83 | 9,664.78 | 26,069.90 | |
| Revenue from Operations | 7,571.58 | 6,036.17 | 6,054.68 | 13,607.75 | 229.40 | 363.81 | |
| b) | Other Income | 121.56 | 135.11 | 70.07 | 256.67 | 9,894.18 | 26,433.71 |
| Total income from operations(Net) | 7,693.14 | 6,171.28 | 6,124.75 | 13,864.42 | |||
| $\overline{2}$ | Expenses | 4,219.97 | 4,024.28 | 9,738.22 | 6,745.89 | 17,969.99 | |
| a) | Cost of materials consumed | 5,518.25 | 94.30 | ||||
| b) | Changes in inventories of finished goods, work-in-progress and stock- | (265.14) | (73.67) | 240.58 | (338.81) | (131.92) | |
| in-tradeEmployee benefit expenses (Note 3) | 1,085.57 | 694.90 | 629.82 | 1,780.47 | 1,249.99 | 2,555.70 | |
| $\mathcal{C}$d) | Finance costs | 10.51 | 9.97 | 7.55 | 20.48 | 14.67 | 27.74 |
| Depreciation and amortisation expenses | 51.60 | 48.64 | 52.76 | 100.24 | 105.52 | 210.59 | |
| e) | Other Expenses | 729.71 | 628.64 | 651.00 | 1,358.35 | 1,155.43 | 2,480.88 |
| f) | Total expenses | 7,130.50 | 5,528.45 | 5,605.99 | 12,658.95 | 9,139.58 | 23.339.20 |
| 3 | Profit/(loss) before Exceptional Item | 562.64 | 642.83 | 518.76 | 1,205.47 | 754.60 | 3,094.51 |
| $\overline{4}$ | Exceptional Item | ||||||
| 5 | Profit(+)/Loss (-) before tax | 562.64 | 642.83 | 518.76 | 1,205.47 | 754.60 | 3,094.51 |
| 6 | Tax Expenses | ||||||
| Current Tax: | 116.43 | 161.79 | 144.30 | 278.22 | 211.30 | 774.80 | |
| Deferred Tax: | 12.47 | 9.17 | 6.34 | 21.64 | 13.54 | (46.05) | |
| 7 | Net Profit for the period | 433.74 | 471.87 | 368.12 | 905.61 | 529.76 | 2,365.76 |
| 8 | Total Other Comprehensive Income for the period(net of tax)(Netgains/(losses) on fair value of equity instruments and actuarialgain/(loss) on defined benefit plan) (Note 2) | 4,129.33 | 1,100.76 | 343.62 | 5,230.09 | 1,882.24 | 3,112.53 |
| 4,563.07 | 1,572.63 | 711.74 | 6,135.70 | 2,412.00 | 5,478.29 | ||
| 9 | Total Comprehensive Income for the period(after tax)Paid up equity share capital (Face Value Of the share- Rs 10/- per | 1,061.00 | 1,061.00 | 1,061.00 | 1,061.00 | 1,061.00 | 1,061.00 |
| 1011 | share)Earning per Equity Share (Not Annualised) (Before OtherComprehensive Income) | ||||||
| (Face value of Equity Share of Rs. 10 each) | 4.09 | 4.45 | 3.47 | 8.54 | 4.99 | 22.30 | |
| 1 Basic | 4.09 | 4.45 | 3.47 | 8.54 | 4.99 | 22.30 | |
| Notes: | 2 Diluted1 The above unaudited financial results were reviewed by the Audit Committee and also approved by the Board of Directors at their Meeting held on 8th November, 2021and have undergone a 'Limited Review' carried by the Statutory Auditors of the Company as required under Regulation 33 of the Securities and Exchange Board ofIndia (Listing Obligations and Disclosure Requirements) Regulations, 2015 The Review Report of the Statutory Auditors is Being Filed with the Bombay StockExchange and National Stock Exchange and display on company website i.e.www.poddarpigmentsltd.com. | ||||||
| 2 The total Other Comprehensive Income (net of tax) is resultant impact of net gain/ (loss) based on fair value of equity instrument and fair value of actuarial gain/(loss) as per Ind AS . As per fair valuation, the cumulative impact of Other Comprehensive Income (net of tax) is a net gain of Rs 5230.09 lakhs as on 30th Sept, 2021.including net gain of Rs.4129.33 lakhs in the current quarter ended on 30th Sept,2021. | |||||||
| 3 The payment of additional remuneration made to Sri R.K.Sureka, Director & CEO of Rs. 3.70 Cr. as a reward in recognition and in consideration of the services renderedby him during his employment with the company for 27 years, which has approved in last 30th Annual General Meeting. | |||||||
| 4 The company has only one reportable segment business segments i.e. Masterbatches. Accordingly, separate information in terms of Ind-AS 108 are not applicable to thecompany. | |||||||
| 5 Figures for the previous period have been regrouped/reclassified wherever necessary, to conform to current period's classification. | GARGAN |
RN: 001604 N New Delhi Tered Account
For and on behalf of the Board of DirectorsPoddar Pigments Limited $9924$
٠
S. S. PODDARMANAGING DIRECTOR
PLACE ChennaiDATE : 8th November, 2021
$P_{P}QQ_{P}P_{N}A_{P}R$
PODDAR PIGMENTS LIMITED
REGD. OFFICE : E-10-11 & F-14-16, RIICO INDUSTRIAL AREA, SITAPURA, JAIPUR (RAJASTHAN)- 302022 CIN: L24117RJ1991PLC006307, Tel. No: 0141-2770202/03
E-mail address: [email protected] , Website address: www.poddarpigmentsltd.com
STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH SEPTEMBER, 2021
| (Rs. in lakh)As at 31.03.2021 | |||
|---|---|---|---|
| Particulars | As at 30,09,2021Unaudited | Audited | |
| A | ASSETS | ||
| $\overline{1}$ | Non-current assets | ||
| Property, Plant and Equipment | 3,439.54 | 3424.97 | |
| Capital Work-In-Progress | 3,987.97 | 3621.04 | |
| Intangible Assets | 25.41 | 25.81 | |
| Financial assets | |||
| Investments | 10,570.16 | 4857.66 | |
| Other Financial Assets | 84.84 | 105.83 | |
| Other Non-Current Assets | 1,443.29 | 502.10 | |
| Sub-total - Non-current assets | 19,551.21 | 12537.41 | |
| $\overline{2}$ | Current assets | ||
| Inventories | 6,415.95 | 4322.16 | |
| Financial assets | |||
| Investments | 2,692.29 | 4249.73 | |
| Trade receivables | 4,198.62 | 4077.82 | |
| Cash and cash equivalents | 610.32 | 781.00 | |
| Other Bank Balances | 129.00 | 117.14 | |
| Other Financial Assets | 132.90 | 91.80 | |
| Current Tax Assets (Net) | 39.51 | 58.23 | |
| Other Current Assets | 503.61 | 489.54 | |
| Sub-total - Current assets | 14,722.20 | 14187.42 | |
| TOTAL - ASSETS | 34,273.41 | 26724.83 | |
| B | EQUITY AND LIABILITIES | ||
| Equity | |||
| Equity Share Capital | 1,061.00 | 1061.00 | |
| Other Equity | 29,105.19 | 23234.77 | |
| Total Equity | 30,166.19 | 24295.77 | |
| $\overline{2}$ | Non-current liabilities | ||
| Deferred tax Liabilities (net) | 845.65 | 359.60 | |
| Total Non Current liabilities | 845.65 | 359.60 | |
| 3 | Current Liabilities | ||
| Financial Liabilities | |||
| Trade payables | 1,798.11 | 1191.84 | |
| Other-Financial Liabilities | 1,112.91 | 679.14 | |
| Provisions | 7.78 | 7.78 | |
| Other current financial liabilities | 342.77 | 190.70 | |
| Total Current liabilities | 3,261.57 | 2069.46 | |
| Total liabilities | 4,107.22 | 2429.06 | |
| Total equity and liabilities | 34,273.41 | 26724.83 |
By Order of the Board of Directors For Poddar Pigments Ltd.
$9,804$
(S. S. PODDAR) MANAGING DIRECTOR
PLACE: CHENNAI DATE: 8th November, 2021
$\underset{P}{\mathsf{P}}\underset{\mathsf{G}}{\mathsf{Q}}\underset{\mathsf{M}}{\mathsf{Q}}\underset{\mathsf{F}}{\mathsf{Q}}\underset{\mathsf{N}}{\mathsf{Q}}\underset{\mathsf{F}}{\mathsf{M}}\underset{\mathsf{S}}{\mathsf{A}}\underset{\mathsf{S}}{\mathsf{R}}$
PODDAR PIGMENTS LIMITED
REGD. OFFICE : E-10-11 & F-14-16, RIICO INDUSTRIAL AREA, SITAPURA, JAIPUR (RAJASTHAN)- 302022 CIN: L24117RJ1991PLC006307, Tel. No: 0141-2770202/03
E-mail address: [email protected], Website address: www.poddarpigmentsltd.com
Statement Of Cash flow for the Period ended 30th Sept, 2021
| Statement Of Cash flow for the Ferrou ended Soun Sept, 2021 | (Rs. In lakhs) | ||
|---|---|---|---|
| Particulars | Period Ended | ||
| Unaudited | Unaudited | Audited | |
| 30th Sept, 2021 | 30th Sept, 2020 | 31st March 2021 | |
| A. CASH FLOW FROM OPERATING ACTIVITIES | 1,205.47 | 754.60 | 3,094.51 |
| Net Profit Before Tax as per Statement of Profit and Loss | |||
| Adjustments for: | 100.24 | 105.52 | 210.59 |
| Depreciation and impairment of property, plant and equipmentActuarial (loss)/gains on defined benefit obligations | (18.00) | (18.00) | (20.57) |
| Net (Gain)/Loss on disposal of property, plant and equipment | (0.33) | ||
| Unrealized (Gain)/ Loss on Exchange-Net | (37.83) | (80.06) | (30.96) |
| Net (Gain)/ Loss on sale of Investments | (33.00) | (3.22) | (69.11) |
| Interest income | (4.18) | (5.12) | (5.56) |
| Finance costs | 20.48 | 14.67 | 27.74 |
| (Gain)/ Loss on fair valuation of investment through FVTPL | (91.23) | (100.69) | (53.65) |
| Liabilities written back | (0.42) | (2.93) | |
| Cash generated from operations before working capital changes | 1,141.53 | 667.70 | 3,149.73 |
| Working capital adjustments: | |||
| (Increase)/decrease in trade receivables | (101.13) | 958.13 | 8.48 |
| (Increase)/decrease in non current financial assets | 20.99 | ||
| (Increase)/decrease in non current assets | 36.98 | (0.63) | (36.60) |
| (Increase)/decrease in other current financial assets | (41.09) | (68.33) | 8.66 |
| (Increase)/decrease in other current assets | (14.08) | 424.78 | 110.98 |
| (Increase)/decrease in inventory | (2,093.79) | 1.24 | 755.83 |
| Increase/(decrease) in other current financial liabilities | 422.35 | 178.31 | (41.15) |
| Increase/ (decrease) in other current liabilities | 152.07 | (129.69) | (172.58) |
| Increase/(decrease) in trade payables | 624.43 | (1,033.81) | (467.22) |
| Increase/(decrease) in non current provisions | (98.35) | (98.35) | |
| Cash generated from operations | 148.26 | 899.35 | 3,217.78 |
| Income tax paid | 259.50 | 115.34 | 792.56 |
| Net cash flows from operating activities (A) | (111.24) | 784.01 | 2,425.22 |
| B. CASH FLOW FROM INVESTING ACTIVITY | |||
| Proceeds from sale of property, plant and equipment | 0.07 | 0.81 | |
| Purchase of property, plant and equipment | (1,456.24) | (295.83) | (1,825.74) |
| Purchase of Intangibles Assets | (3.37) | ||
| Purchase/Sale of non current investment | |||
| (Purchase)/Sale of current investment | 1,681.67 | (398.52) | (838.60) |
| Interest received | 4.18 | 5.12 | 5.56 |
| Short Term Loan given | |||
| Dividend Received | 8.00 | ||
| (Purchase)/Sale of non current investment | 226.31 | (689.23) | (2,649.97) |
| Net cash flows used in investing activities (B) | |||
| C. CASH FLOW FROM FINANCING ACTIVITY | |||
| Proceeds from / (Repayment of) Short Term Borrowings | |||
| Interest Paid | (20.48) | (14.67) | (27.74) |
| Dividends paid to equity holders | (265.27) | ||
| Net cash flows from/(used in) financing activities (C) | (285.75) | (14.67) | (27.74) |
| Net increase in cash and cash equivalents (A+B+C) | (170.68) | 80.11 | (252.49) |
| Cash and cash equivalents at the beginning of the year | 781.00 | 1,033.49 | 1,033.49 |
| Cash and cash equivalents at the year end | 610.32 | 1,113.60 | 781.00 |
| Notes: | |||
| (i) The above Statement of Cash Flows has been prepared under the 'Indirect Method's set out in Ind AS7, 'Statement of Cash Flows'. | |||
| ď | |||
| (ii) Cash and cash equivalent includes: | 302.49 | 182.94 | |
| In Current Account | 96.68 | ||
| In FDR account | 57.55 | 598.06 | |
| In EEFC Account | 456.09New Delh | 811.11 | 781.00 |
| Cash and cash equivalents at year end | 610.32 | 1,113.60 | |
| (iii) Previous year figures have been regrouped / rearranged to make | Brew proudbywherever considered necessary, with those of the current year. | ||
| For and on behalf of the Board of Directors | |||
| Poddar Pigments Limited | |||
| $C \rightarrow 11$ |
$512$
S. S. PODDAR MANAGING DIRECTOR
PLACE: CHENNAI DATE: 8th November, 2021
$\mathbf{P}$
PODDAR PIGMENTS LIMITED
REGD. OFFICE: E-10-11 & F-14-16, RIICO INDUSTRIAL AREA, SITAPURA, JAIPUR (RAJASTHAN)- 302022
CIN: L24117RJ1991PLC006307, Tel. No: 0141-2770202/03
E-mail address: [email protected], Website address: www.poddarpigmentsltd.com
Statement of Unaudited Financial Results for the Quarter Ended And Half Year Ended 30th Sept, 2021
| (Rs. in Lakh , except per share data) | |||||
|---|---|---|---|---|---|
| S. No. | Particulars | Ouarter ending30.09.21 | Quarter ending30.09.20 | Half Year Ended30.09.2021 | Year Ended31.03.2021 |
| (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| 1 | Total Income from Operations | 7693.14 | 6124.75 | 13864.42 | 26433.71 |
| $\overline{2}$ | Net Profit / (Loss) for the period (before Tax,Exceptional and/or Extraordinary items#) | 562.64 | 518.76 | 1205.47 | 3094.51 |
| 3 | Net Profit / (Loss) for the period before tax (afterExceptional and/or Extraordinary items#) | 562.64 | 730.37 | 1205.47 | 2881.88 |
| 4 | Net Profit / (Loss) for the period after tax (afterExceptional and/or Extraordinary items#) | 433.74 | 368.12 | 905.61 | 2365.76 |
| 5 | Total Comprehensive Income for the period[Comprising Profit / (Loss) for the period (after tax)and Other Comprehensive Income (after tax)] (Refer$note - 2)$ | 4563.07 | 711.74 | 6135.70 | 5478.29 |
| 6 | Equity Share Capital | 1061.00 | 1061.00 | 1061.00 | 1061.00 |
| 7 | Reserves (Excluding Revaluation Reserve) | 29105.19 | 23234.77 | ||
| 8 | Earnings Per Share (of Rs. 10/- each) (for continuingand discontinued operations) - | ||||
| 1. Basic: | 4.09 | 5.05 | 8.54 | 20.03 | |
| 2. Diluted: | 4.09 | 5.05 | 8.54 | 20.03 | |
Notes:
The above unaudited financial results were reviewed by the Audit Committee and also approved by the Board of Directors at $\mathbf{1}$ their Meeting held on 8th November, 2021 and have undergone a 'Limited Review" carried by the Statutory Auditors of the Company as required under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements ) Regulations, 2015 The Review Report of the Statutory Auditors is Being Filed with the Bombay Stock Exchange and National Stock Exchange and display on company website i.e.www.poddarpigmentsltd.com.
The total Other Comprehensive Income (net of tax) is resultant impact of net gain/ (loss) based on fair value of equity $\mathbf{2}$ instrument and fair value of actuarial gain/ (loss) as per Ind AS. As per fair valuation, the cumulative impact of Other Comprehensive Income (net of tax) is a net gain of Rs 5230.09 lakhs as on 30th Sept, 2021 . including net gain of Rs.4129.33 lakhs in the current quarter ended on 30th Sept, 2021.
The payment of additional remuneration made to Sri R.K. Sureka, Director & CEO of Rs. 3.70 Cr. as a reward in recognition and $\overline{\mathbf{3}}$ in consideration of the services rendered by him during his employment with the company for 27 years, which has approved in last 30th Annual General Meeting.
The company has only one reportable segment business segments i.e. Masterbatches. Accordingly, separate information in terms $\overline{4}$ of Ind-AS 108 are not applicable to the company.
Figures for the previous period have been regrouped/reclassified wherever necessary, to conform to current period's $\tilde{\varsigma}$ classification.
PLACE: CHENNAI DATE: 8th November, 2021
For and on behalf of the Board of Directors Poddar Pigments Limited
woon
S. S. PODDAR MANAGING DIRECTOR