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Power Mech Projects Limited Regulatory Filings 2022

Nov 12, 2022

60676_rns_2022-11-12_6671f9d8-38b5-423b-bcac-ea347e85f2d2.pdf

Regulatory Filings

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Date: 12.11.2022

To Corporate Relations Department BSE Limited, Dalal Street, P.J. Towers, MUMBAI-400001

To

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E) MUMBAI-400051

Dear Sir/Madam,

Sub: Outcome of Board Meeting under Regulation 30 & 33 of SEBI (LODR) Regulations, 2015

Ref: BSE Scrip Code: 539302; NSE Symbol: POWERMECH

With reference to the above mentioned subject, please note that the Board of Directors in their meeting commenced at 12:10 PM and concluded at 2.35 PM have inter-alia transacted the following items of business:

  1. Approved the Un-audited Standalone Financial Results for the Second Quarter and Half Year Ended 30.09.2022.

  2. Approved the Un-audited Consolidated Financial Results for the Second Quarter and Half Year Ended 30.09.2022.

  3. Took note of the Limited Review Report issued by the Statutory Auditors on the Unaudited Standalone and Consolidated Financial Results for the Second Quarter and Half Year Ended 30.09.2022.

This is for your information and records.

Regards, For Power Mech Projects Limited

Mohith Kumar Khandelwal Company Secretary

Encl:Ala

JAS-ANZ

--[6+ L.'_'j.._.J. M4570910tN

POWER MECH PROJECTS LIMITED

AN ISO 9001, ISO 14001 & OHSAS 18001 CERTIFIED COMPANY

Regd.& Corporate Office: Phone : 040-30444444 ~c IJ (. PlotNo. 77, JubileeEnclaveOpp , .Hitex, Fax: 040-30444400 '_. '* '*: Madhopur, Hyderabad-500081 E-mail: [email protected] ~lJ .... WElYARST Telongano, India Website:www.powennechprojects.com CIN: L74140TG1999PLC032156

Statement of Unaudited Standalone financial results for the Quarter and Half year ended September 30, 2022

(RS in Mns)
51. No. Particulars Qua rter ended Half year ended Year ended
30.09.2022 30.06.2022 30.09.2021 30.09.2022 30.09.2021 31.03.2022
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
I Income
(a) Revenue from operations 7,520.68 7,283.62 5,214.72 14,804.30 11,222.89 26,311.29
(b) Other income 18.09 16.77 51.51 34.86 105.41 254.15
Total income 7,538.77 7,300.39 5,266.23 14,839.16 11,328.30 26,565.44
II Expenses
(a) Cost of materials consumed 905.12 1,133.12 724.69 2,038.23 1,421.07 3,237.66
(b) (Increase)/Decrease
in inventories of finished
goods, stock-in-trade
and work-in-progress		 (48.52) (19.65) (3.24) (68.17) (4.67) 17.81
(c) Contract execution expenses 4,435.84 4,045.22 3,000.25 8,481.06 6,734.06 15,957.13
(d) Employee benefits expense 1,290.41 1,230.32 889.71 2,520.73 1,781.36 4,045.90
(e) Finance costs 205.46 197.13 164.21 402.60 350.41 760.68
(f) Depreciation and amortisation
expense		 95.12 93.88 86.16 189.00 170.06 344.75
(g) Other expenses 85.58 84.35 57.15 169.93 119.95 328.09
Total expenses 6,969.01 6.764.37 4,918.93 13,733.38 10,572.24 24,692.02
III Profit before exceptional
items and tax (I-II)		 569.76 536.02 347.30 1,105.78 756.06 1,873.42
IV Exceptional items - - - - - -
V Profit before tax (III-IV) 569.76 536.02 347.30 1,105.78 756.06 1,873.42
VI Tax expense
(a) Current tax 159.66 136.60 60.00 296.26 64.43 364.50
(b) Deferred tax charge/(credit) (9.39) (0.49) 16.19 (9.88) 114.12 99.44
Total tax expense 150.27 136.11 76.19 286.38 178.55 463.94
VII Profit for the period after tax (V-VI) 419.49 399.91 271.11 819.40 577.51 1,409.48
VIII Other comprehensive
income
Items that will not be reclassified to profit or loss
(a) Remeasurements of the defined employee benefit plans 3.13 3.07 3.47 6.20 0.11 12.53
(b) Equity instruments
through other comprehensive
income		 0.06 0.03 0.05 0.09 6.90 0.11
Total Other comprehensive
Income		 3.19 3.10 3.52 6.29 7.01 12.64
IX Total comprehensive
Income (VII+VIII)		 422.68 403.01 274.63 825.69 584.52 1,422.12
X Paid-up equity share capital (Face value Rs.10/- each) 147.11 147.11 147.11 147.11 147.11 147.11
XI Reserves (excluding revaluation reserves) as per Balance Sheet 9,788.82
XII Earnings per share (of Rs.I0/- each) (for the period- not
annualised)
- Basic 28.52 27.18 18.43 55.70 39.26 95.81
- Diluted 28.51 27.18 18.43 55.70 39.26 95.81

POWER MECH PROJECTS LIMITED

AN ISO 9001, ISO 14001 & OH5A5 18001 CERTIFIEDCOMPANY

Regd. & Corporate Office: Plot No. 77, Jubilee Enclave, Opp. Hitex, Madhapur, Hyderabod-5000S1 Telon90na, India M4570910lN CIN: l74140TG1999PlC032156

P Fa h x o : ne : 0 040 40-30 -30 444 444444 400 E-mail: [email protected] • , " • Website: www.powermechprojects.com

Statement of Unaudited Consolidated financial results for the Quarter and Half year ended September 30,2022

51. No. Particulars
Income
(a) Revenue from operations
(b) Other income
income
II Expenses
(a) Cost of materials consumed
(b) (Increase)/Decrease in inventories of finished		 962.44 1,147.86 2,110.30
goods, stock-In-trade and work-in-progress (53.10) (26.15) (79.25)
(c) Contract execution expenses 4,518.35 4,154.42 8,672.77
(d) Employee benefits expense 1,332.10 1,269.51 2,601.61
(e) Finance costs 214.51 203.39 417.89
(f) Depreciation and amortisation expense 100.34 99.15 199.49
(g) Other expenses
expenses
III before Share of Profit/(Ioss) from Joint venture,
[excepttonat items and tax (I-II)
IV of Loss from Joint Ventures & Associate
V before exceptional items and tax (III-IV)
VI rtems
VII Profit before tax (V-VI)
VIII Tax expense
(a) Current tax
(b) Deferred tax charge/(credit)
Total tax expense
IX Profit for the period after tax (VII-VIII)
X Other comprehensive Income
Items that will not be reclassified to profit or loss
(a) Remeasurements of the defined employee benefit plans 3.13 3.07 3.47 6.20 6.90 11.62
(b) Equity instruments through other comprehensive
income		 0.06 0.03 0.05 0.09 0.11 0.11
Items that will be reclassified to profit or loss
(a) Exchange fluctuations on revaluation of foreign
operations
Total Other comprehensive Income/(Loss)
XI Total comprehensive Income (IX+X)
Profit for the period before other comprehensive income 426.98 394.33 821.32 585.02 1,385.00
Attributable to
Equity share holders o( the parent 438.05 394.90 832.96 585.17 1,390.02
Non-controlling Interest (11.07) (0.57) (11.64) (0.15) (5.02)
428.25 409.53 837.79 567.86 1,380.19
IACt"h'rt~hlpto
Equity share holders of the parent 439.27 409.52 848.81 567.75 1,384.60
Non-controlling interest (11.02) 0.01 (11.02) 0.11 (4.41)
XII Paid-up equity share capital (Face value Rs.101-each) 147.11 147.11 147.11 147.11 147.11 147.11
XIII (excluding revaluation reserves) as per Balance Sheet
per share (of Rs.101-each) (for the period - not		 10,286.89
XIV
- Basic 29.78 26.84 18.41 56.62 39.78
- Diluted 26.84 18.41

POWER MECH PROJECTS LI

Regd.& Corporate Office: Plot No. 77, Jubilee Enclave,Opp. Hitex, Madhopur, Hyderabod-500081 Telan90no, Indio

CIN : L74140TG 1999PLC032156

Phone : 040-30444444 Fox : 040-30444400 E-mail ·[email protected] Website' www.powermechprojects.corn

Jtf POWER MECH®

Statement
of Assets
51. No. Particulars
(a) Plant and Equipment 1,506.85 1,480.32 1,742.74 1,725.09
(b) 26.80 36.61 45.04 54.98
(c) 86.25 17.32 92.81 23.72
(d) 1.69 1.88 24.70 24.98
(e)
139.14 139.11 383.55 366.59
3,217.07 3,026.48 3,236.35 3,042.77
(f) 112.41 102.53 128.34 118.27
(g) Non-current Assets 21.22 13.22 21.24 13.22
Total Non-Current assets 5,111.43 4,817.47 5,674.77 5,369.62
2
(a) 1,177.49 1,258.05 1,307.31 1,376.59
(b)
3.90 24.53 3.90 24.S3
5,528.55 6,411.91 5,839.45 6,665.72
330.14 714.56 361.40 734.96
860.40 757.06 867.68 766.56
446.66 384.26 54.70 57.31
6,533.99 5,247.64 6,608.53 5,452.83
(c) 5,017.38 4,686.04
(d)
EQUITYAND UABIUTIES
Equity
(a) 147.11 147.11 147.11 147.11
(b) 10,842.44 9,788.82 11,363.63 10,286.89
2 ntrolling Interests 10,989.55 9,935.93 19.72
11,530.46		 30.74
10,464.74
Liabilities
3 Non-current
liabilities
(a) Financial Liabilities
I) Long-term borrowings 321.96 349.30 321.96 349.50
ii)Lease liabilities 11.40 17.21 11.40 17.21
iii)Other financial liabilities 814.12 799.49 817.72 803.09
(b) 57.03 66.11 63.58 72.06
(c) 716.68 688.26 850.12 771.49
Total non-current
liabilities		 1,921.19 1,920.37 2,064.78 2,013.35
4
(a)
4,515.83 4,722.10 4,529.52 4,921.97
Lease liabilities 12.46 16.37 12.46 16.37
Trade payables
(a)Total outstanding dues of micro
enerprises and sma IIenterprises 15.57 14.72 15.57 14.72
(b) Total outstanding dues of Creditors other
than micro enterprises and small enterprises 5,132.35 5,300.51 5,257.08 5,378.38
Other financial liabilities 1,314.56 1,155.20 1,418.70 1,269.81
(b) 1,662.43 1,793.29 1,732.71 1,877.30
(c) 17.95 15.51 19.26 16.61
Total current liabilities 12,671.15 13,017.70 12,985.30 13,495.16

AN ISO 9001, ISO 14001 & OH5A5 18001 CERTIFIED COMPANY POWER MECH PROJECTS LIMIT

Regd. & Corporate Office: Plot No 77, Jubilee Enclave, Opp. Hitex, Madhapur, Hyderabad-500081 Telangano, Indio CIN : L7 4140TG 1999PLC032156

Phone : 040-30444444 Fax: 040-30444400 E-mail: [email protected] Website: www.powermechprojects.com

ftf POWER MECH®

POWER MECH PROJEcfs'~rHr8mlted

Registered & Corporate Office: plot No.77, Jubilee Enclave, Madhapur, Hyderabad - 500 081, Telangana.

Phone: 040-30444418 ClN: L74140TG1999PLC032156, Email - [email protected], Website: www.powermechprojects.com

Cash Flow Statement for the Half Year ended 30'h September, 2022

(Rs. in Mns)
Standalone Consolidated
Particulars Half Year ended Half Year ended Half Year ended Half Year ended
30.09.2022 30.09.2021 30.09.2022 30.09.2021
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
I.CASH FLOW FRQM OPERATING ACTIVITIES
Profit before tax 1,105.78 756.06 1,107.51 763.86
Add/Less: Adjustments for:
Depreciation 189.00 170.06 199.49 183.08
FCTRmovement 10.18 (24.17)
Interest and Finance charges 400.96 350.10 416.25 360.29
Interest on Income-Tax 1.64 0.31 1.64 0.33
Loss on sale of assets 0.04 5.97 0.04 657
Net gain arising on financial assets measured at FVTPL (0.36) (0.45) (0.36) (0.45)
Fair value gain on current investments
Interest income		 0.50 (1.73) 0.50 (1.73)
Profit on sale of assets (33.98) (33.52) (34.46) (33.68)
Dividend income (0.79)
-		 (1.49)
(66.44)		 (0.79) (1.59)
Amortisation
of Deferred Government grants		 (0.22) -
Remeasurement
of employee defined benefit Plans		 6.20 (0.58)
6.90		 (0.22)
6.20		 (058)
6.90
Share of (Profit)/Loss from Joint Venture 25.50 32.27
Operating
profit/{Ioss)
before working
capital changes		 1668.77 1185.19 1731.48 1291.10
Movements
In Working Capital
Adjustments for (increase)/decrease
in operating assets:
- Trade Receivables 883.36 111.lS 826.28 491.25
- Inventories 80.56 (58.50) 69.28 (71.87)
- Other Assets (1.800.25) (433.75) (1.616.50) (314.81)
Adjustments
for increase/{decrease)
in operating liabilities:
- Trade Payables (167.31) (880.60) (UO.44) (1,072.96)
- Other Liabilities and Provisions 44.62 400.68 28.97 139.17
Cash generated from operations 709.75 324.17 919.07 461.88
Less: Direct taxes paid (298.40) (242.29) (295.08) (245.12)
Net cash from Operating activities (A) 411.35 81.88 623.99 216.76
II.CASH FLOW FROM INVESTIN!;j ArnVITIES
Purchase of fixed assets/Capital work in progress (275.39) (171.76) (276.58) (181.1O)
Proceeds from sale of fixed assets 1.61 30.54 36.94
Investment in equity shares of Subsidiary company (0.17) -
Investment
in Mutual Funds
Margin money deposits with banks and other balances		 - 20.13 (19.00) 20.13 (19.(0)
Dividend received (181.79) (102.67)
66.44		 (179.56) (103.lS)
Interest received 33.98 33.52 34.46 33.68
Net cash used in Investing activities ( B) (401.46) (163.10) (401.55) (232.63)
"I.CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from borrowings 16.38 486.44 (169.99) 513.89
Interest and Finance charges paid (399.56) (347.68) (414.85) (357.86)
Lease Rent Paid (11.13) (13.60) (11.13) (13.60)
Net cash from/fused
in) financing activities		 (C) (394.31) 125.16 (595.97) 142.43
Net Increase/{decrease)
in cash and cash equivalents		 (A+B+C) (384.42) 43.94 (373.53) 126.56
Cash and cash equivalents at the beginning of the period 714.56 120.86 734.96 13753
Cash and cash equivalents at the end ofthe
period		 330.14 164.80 361.40 264.09
Net Increase/{decrease)
in cash and cash equivalents		 (384.42) 43.94 (373.56) 126.56

POWER MECH PROJECTS LIM...~

AN ISO 9001, ISO 14001 & OH5A5 18001 CERTIFIED COMPANY _Il Regd. & Corporate Office: Plot No. 77, Jubilee Enclave, Opp. Hitex, Modhopur, Hyderobod-500081 Telangana, India

M4570910lN CIN : L74140TG1999PLC032156

Phone : 040-30444444 Fax: 040-30444400 E-mail: [email protected] Website: www.powermechprojects.com

Notes: 1

These financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on 12th November, 2022.These results are as per Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations,2015 as amended. The statutory Audiors have carried out a limited review of these results for the quarter and Half year ended September 30, 2022 and have issued an unmodified report on these results.

Growth Unhmited

  • The Company predominently operates only in construction and maintenance activities and there are no reportable segments under Indian Accounting Standard (Ind AS)-lOB.
  • The Income-Tax Department (lithe Department") has conducted Searchunder Section 132 of the Income-TaxAct,1961 in various business premises of the Company in the month of July, 2022. During the course of proceedings,the Company has extended all support and co-operation and provided necessarydocuments and data to the Department and at present is in the processof providing necessaryinformation as called by the Department. The Companyis in the processof assessingits impact on the operations of the business.While the uncertainty exists regarding the outcome of the proceedings by the department, the Company after considering all available information and facts as of date is of opinion that no adjustment is required to be made to the financial results.

The company at its AGM held on 30.09.2022 got the approval for issueof equity sharesto the promoters by way of conversion of unsecured loan in to equity to the extent of RS.250mn at a price of RS.127B.16(i.e at a premium of Rs.126B.16).Pending approvals and allotment of equity shares,the equity component of said unsecured loan amounting to Rs.250mn was shown under "Other Equity" to comply with the requirements of Companies(Indian Accounting Standards) Rules,2015, as amended.

Figures for the previous periods have been regrouped and reclassified wherever necessaryto conform to current period classification.

J?J POWER MECH®

~\a.(t_" ~~

Date: November 12, 2022 Chairman and Managing Director

a u

POWER MECH PROJECTS LIMITED

rG·····_····-: ! ; ! •• t ~ ! ' ! .... _-t--._-_ ....

AN ISO 9001, ISO 14001 & OHSAS 18001 CERTIFIED COMPANY JAS-ANZ

Regd. & Corporate Office: PlotNo. 77. Jubilee Enclave.Opp. Hitex. Madhapur. Hyderabad-500081 Telangana, India M4S70910lN CIN : L74140TG 1999PLC032156

Phone :040-30444444 Fax :040.30444400 t-mail: [email protected] Website: www.powermechprojeds.com

    • -------------_ .........

K.S.RAO & Co

CHARTERED ACCOUNTAN:TS

INDEPENDENT AUDITOR'S REVIEW REPORT ON STANDALONE UNAUDITED FINANCIAL RESULTS OF POWER MECH PROJECTS LIMITED FOR THE QUARTER AND HALF-YEAR ENDED 30th SEPTEMBER, 2022 PURSUANT TO THE REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 (AS AMENDED)

POWER MECH PROJECTS LIMITED TO THE BOARDOF DIREG-TORSOF

  • . . 1. We have reviewed the accompanying Statement of Standalone Unaudited financial results of POWER MECH PROJECTS LIMITED (lithe Company"), for the Quarter and Half-year ended so'' September, 2022 (lithe Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended including relevant circulars issued by the SEBIfrom time to time.
    1. This Statement is the responsibility of the Company's Management and approved by the Company's Board of Directors in their meeting held on iz" November, 2022, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the Statement based on our review.
    1. 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 Auditor of the -~~----I~nt-i·t-y~i·ssl;jeEl~ey-t:Ae-1 As-titttte-of-Ena Fl:efed-Aeeel:lntants-ot-l nd ia:-"fhis-Standa rd=reqni res-th at-we-pla n and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.
    1. Emphasis of Matter:

Attention is invited to note no.3 of the financial results, wherein proceedings u/s 132 of Income-tax Act, 1961 has been carried out by the Income -Tax Department in the month of July, 2022 in various locations of the company. Since the investigation and related proceedings are pending, there is uncertainty as regards impact, if any, of the outcome of the proceedings, which cannot be ascertained at this point oftime.

Our opinion is not modified in respect of this matter.

  1. Based on our review conducted as stated above, nothing has come to our attention that causes us to

  2. ... -

#54-19-4B, Ground Floor, 2nd Lane, Jayaprakash Nagar, Vijayawada - 520 008 8985000800, 7382655516 - [email protected] - www.ksrao.i

K.S. &!\O & Co

CHARTERED ACCOUNTAI'.TS

required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Place: Camp: Hyderabad Date: 12.11.2022 UDIN: 22235528BCWUVH7729 Eor:..K.S.Rao & Co --

#54-19-4B, Ground Floor, 2nd lane, Jayaprakash Nagar, Vijayawada - 520 008 8985000800, 7382655516 - [email protected] - www.ksrao.in

K.S. Rt\O & Co

CHARTERED ACCOUNTANTS

INDEPENDENTAUDITOR'S REVIEW REPORTON CONSOLIDATED UNAUDITED FINANCIAL RESULTSOF POWER MECH PROJECTSLIMITED FORTHE QUARTERAND HALF-YEAR ENDED 30TH SEPTEMBER,2022 PURSUANT TO THE REGULATION 33 OF THESEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS,2015 (AS AMENDED)

TO THE BOARDOF DIRECTORSOF POWER MECH PROJECTSLIMITED

    1. We have reviewed the accompanying Statement of Consolidated Unaudited financial results of POWER MECH PROJECTSLIMITED ("the Parent") and its Subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the ret profit/(Ioss) after tax and total comprehensive tncorne/tloss) of its joint ventures and associate for the Quarter and Half-year ended so" September, 2022 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
    1. This Statement which is the responsibility of the Parent Company's Management and approved by the Parents Company's Board of Directors in their meeting held on iz" November, 2022, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34")' prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the Statement based on our review.
    1. a) 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 Auditor of the Entity', issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

b) We also performed procedures in accordance with the circular issued by SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

  1. Emphasis of Matter:

Attention is invited to note no.3 of the financial results, wherein proceedings u/s 132 of Income-tax Act, 1961 has been carried out by the Income -Tax Department in the month of July, 2022

54-19-4B, Ground Floor, 2nd lane, Jayaprakash Nagar, Vijayawada - 520 008 8985000800, 7382655516 - [email protected] - www.ksrao.i

K.S.RAO & Co

CHARTERED ACCOUNTA"TS

locations of the parent company. Since the investigation and related proceedings are pending, there is uncertainty as regards impact, if any, of the outcome of the proceedings, which cannot be ascertained at this point of time.

Our opinion is not modified in respect of this matter.

  1. Apart from the Parent company, the consolidated unaudited financial results includes the following subsidiaries, Joint ventures and associates.
Name of the entity Relationship
Hydro Magus Private Limited Subsidiary (Indian)
Power Mech Industri
Private Limited		 Wholly Owned Subsidiary (Indian)
Power Mech BSCPLConsortium
Private Limited		 Subsidiary (Indian)
Power Mech SSAStructures
(P) Limited		 Wholly Owned Subsidiary (Indian)
Aashm Avenues (P) Limited Wholly Owned Subsidiary (Indian)
Power Mech Environmental
Protection
Private Limited		 Wholly Owned Subsidiary (Indian)
Energy Advisory
and Consulting Services Private Limited		 Wholly Owned Subsidiary (Indian)
KBP Mining
Private Limited		 Subsidiary (Indian)
Power Mech Projects LLC Subsidiary (Foreign)
Power Mech Projects (BR) FZE Wholly Owned Subsidiary (Foreign)
PMPL - Khilari JV (AOP) Joint Venture
(India)
PMPL - STSJV (AOP) Joint Venture
(India)
PMPL - ACPLJV (AOP) Joint Venture
(India)
PMPL - SRCINFRA JV (Mizoram) Joint Venture
(India)
PMPL - SRCINFRAJV (Hasan) Joint Venture
(India)
PMPL-
BRCCINFRAJV		 Joint Venture
(India)
PMPL-KVRECPL Consortium
JV		 Joint Venture (India)
PMPL-PIAJV Joint Venture
(India)
GTA Power Mech Nigeria Limited Joint Venture
(Foreign)
__

K.S. R,-\O & Co

CHARTERED ACCDUNTA TS

GTA power Mech DMCC Joint Venture
(Foreign)
GTA Power Mech FZE Subsidiary of JV (foreign)
Mas Power Mech Arabia
-----
-		 Associate (Foreign)
-
-
  1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

7. Other Matters

The consolidated unaudited financial results includes the financial results of 2 overseas subsidiary companies, 2 overseas Joint Ventures, 1 subsidiary of overseas JV and 1 foreign associate whose financial statements have not been reviewed by their auditors.

These unaudited results also includes financial results of 7 Indian subsidiary companies and 7 Indian Joint Ventures which have been reviewed by other auditors.

The financial results includes total assets of Rs.527.41 mn as at 30.9.2022, total income of Rs. 173.57 mn and Rs.341.63 mn, total net profit after tax Rs. 9.75 mn and Rs.25.52 mn and total comprehensive ______ .Jncome.of.Rs 1.84...mr:t--<lr:td-Rs.-350 m.7 n.for.the.q uar:ter and-ha If-year:-eA9es-3Q.,.9.,.2;Q2--2-r-es!3el:Ot:ively-ef-2:----- overseas subsidiary companies which have not been reviewed by their auditors.

The consolidated financial results also includes groups share of net profit of Rs. 35.85 mn and Rs.12.31 mn and total comprehensive income of Rs. 35.85 mn and Rs.12.31 mn for the quarter and half year ended 30.9.2022 respectively as considered in consolidated financial results in respect of 2 overseas joint ventures and subsidiary of one of JV which have not been reviewed by their auditors.

These financial results also includes groups share of net loss after tax and total comprehensive loss of Rs. 41.24 mn and Rs. 42.42 mn for the quarter and half year ended 30.9.2022 respectively of 1 foreign associate which has not been reviewed by their auditors.

The financial results also includes total assets of Rs. 662.28 mn as on 30.9.2022 and total income of Rs. 77.67 mn and Rs.129.77 mn, total net profit after tax and total comprehensive income of Rs. 0.72 mn and Rs. 1.91 mn for the quarter and half year ended 30.9.2022 respectively of 7 companies which have been reviewed by other auditors.

HYDERABAD, VIJAYAWADA, CHENNAI AND BANGALORE #54-19-4B, Ground Floor, 2nd lane, Jayaprakash Nagar, Vijayawada - 520 008 8985000800, 7382655516 - [email protected] - www.ksrao.in

K.S. RL\O & Co

CHARTERED ACCOUNTA.I'.TS

The financial results also includes groups share of net profit after tax and total comprehensive income of Rs. 2.42 mn and Rs. 4.62 mn for the quarter and half year ended 30.9.2022 respectively of 7 Indian Joint Ventures which have been reviewed by other auditors.

-,he interim financial information of Indian companies and JV which have been reviewed by other- auditors wherein reports have been furnished to us by the Parent's companies management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect' of these companies in the group, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matter.

The interim financial information of the overseas companies in the group, which has not been reviewed by their auditors have been furnished to us by the Management of the Company, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these companies is based solely on such interim financial information certified by the Management of the Company. The Holding Company's Management has converted the financial statements of such companies located outside India from accounting policies generally accepted in their respective countries to accounting policies generally accepted in India. According to the information and explanations given to us by the management, these interim financial information are not material to the Group.

Our conclusion on the Statement is not modified in respect of our reliance on the interim financial information results certified by the Management.

For K.S. Rao & Co

Partner Membership No. 235528

Place: Camp: Hyderabad Date: 12.11.2022 UDIN: 22235528BCWUWV6786

HYDERABAD, VIJAYAWADA, CHENNAI AND BANGAlORE #54-19-4B, Ground Floor, 2nd lane, Jayaprakash Nagar, Vijayawada - 520 008 8985000800, 7382655516 - [email protected] - www.ksrao.in

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