Precision Wires India ltd. — Interim / Quarterly Report 2021

Feb 11, 2021

PRECISION WIRES INDIA LIMITED

REGD. OFFICE: SAIMAN HOUSE, J. A. RAUL STREET, OFF SAYANI ROAD, PRABHADEVI, MUMBAI - 400 025, INDIA. TEL: +91-22-24376281 FAX: +91-22-24370687 E-MAIL: mumbai@pwil.net WEB: www.precisionwires.com CIN: L31300MH1989PLC054356 WORKS: PLOT NO. 125/2, AMLI HANUMAN (66 KVA) ROAD, SILVASSA – 396 230, U.T OF D.N.H., INDIA. TEL: +91-260-2642614 FAX: +91-260-264235

Date: 11th February, 2021

BSE Limited (BSE)	The Manager,
1stCorporateRelationshipDepartment,	Listing Department
Floor, New Trading Ring, Rotunda Building,	National Stock Exchange of India Limited
P.J.Towers, Dalal Street, Fort, Mumbai-400	(NSE)
001	'Exchange Plaza', C-1, Block G, Bandra - Kurla
	Complex, Bandra (E), Mumbai – 400 051.
Company Code : 523539	Symbol : PRECWIRE

Subjects: Outcome of Board Meeting - Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015

We hereby inform you of the outcome of the Meeting of the Board of Directors held on today i.e. 11th February, 2021 held by vide conference at Mumbai. The Board unanimously considered and approved:

1. Un-audited Financial Results of the Company along with Limited Review Report of Statutory Auditor thereon for the quarter and nine months ended December 31, 2020 duly reviewed by the Audit Committee and approved at the meeting of Board of Directors held today.

Copy thereof enclosed herewith from Page No. 3 to 5.

1. Interim Dividend 40% i.e. Rs.2.00 per equity share of the face value of Rs.5/- each was declared.

Record Date for payment of the Interim Dividend is 24th February, 2021 and the said dividend shall be paid on or before 12th March, 2021.

1. An estimated cost of project of Rs. 25 Crore for modernization and expansion for winding wire facilities and authorize officials of the Company to make application and obtain relevant approvals from all statutory authorities as and when required.

The Results will also make available on the website of the Company i.e. www.precisionwires.com and will be published in newspapers as required under the said Regulations.

The Board meeting commenced at 11.00 am and concluded at 12.25 pm.

PRECISION WIRES INDIA LIMITED REGD. OFFICE: SAIMAN HOUSE, J. A. RAUL STREET, OFF SAYANI ROAD, PRABHADEVI, MUMBAI - 400 025, INDIA. TEL: +91-22-24376281 FAX: +91-22-24370687 E-MAIL: mumbai@pwil.net WEB: www.precisionwires.com CIN: L31300MH1989PLC054356 WORKS: PLOT NO. 125/2, AMLI HANUMAN (66 KVA) ROAD, SILVASSA – 396 230, U.T OF D.N.H., INDIA. TEL: +91-260-2642614 FAX: +91-260-264235

This is for your kind information and records. Kindly acknowledge and oblige

For Precision Wires India Limited

DEEPIK A ROHIT PANDEY Digitally signed by DEEPIKA ROHIT PANDEY Date: 2021.02.11 09:16:56 +05'30'

Deepika Pandey Company Secretary ACS NO: 41277

Encl: as above

PRECISION WIRES INDIA LIMITED

REGD. OFFICE: SAlMAN HOUSE, J. A. RAUL STREET, OFF SAYANI ROAD, PRABHADEVI, MUMBAJ- 400025, INDIA. TEL: +91-22-24376281 FAX: +91-22-24370687 E-MAIL: mumbai@pwil.net WEB: www.precisionwires.com CIN: L31300MH1989PLC054356

WORKS: PLOT NO. 125/2, AMLI HANUMAN (66 KVA) ROAD, SILVASSA - 396 230, UT OF D.N.H. & D.O., INDIA.

Page 112 (Rs in Lakhs except Per Share Data)

Sr. No.		Particulars	Quarter EndedDecember;31.2020	Quarter EndedSeptember,30,2020	Quarter EndedDecember,31,2019	NlneMonthsEndedDecember,31.2020	Nine MonthsEndedDecember,31,2019	Year EndedMarch, 31,2020
			cun-audited)	(Un-audited)	(Un-audited)	CUn-audited)	(Un-audited)	(Audited)
		Income from Operations
1		Revenue from OperatiOfls	52,118.66	39,205.74	35,348.52	1,06,590.44	1,14,954.22	1,52,581.45
	(a)	Other Operating Income	144.12	45.62	(5.70)	231.37	31.45	411.62
	(b)	Total Revenue(a + b)	52262.78	39,251.36	35,342.82	106821.81	1,14,985.67	1,52,993.07
2	IExDenses				31,006.57	97,323.57	1,01,227.25	1,36,390.81
	(a)	Cost of Raw Material Consumed	48,341.07	38,376.11		3.04	18.95	18.95
	(b)	Purchase 01Stock-in-Trade	0.30	0.20	0.46
	(c)	Changes in Inventories of FiniShed Goods,WQT1(-m-progressand Stock-in-Trade	(1,567.65)	(3,441.96)	59.08	(2,049.94)	521.25	(1,135.43)
	(d)	Employee benefits expenses	873.47	625.47	677.79	1,992.41	2,036.21	2,727.04
	(e)	Depreciation & AmortisationExpense	398.63	379.70	400.69	1,156.97	1,184.21	1,609.85
		Power & Fuel	685.95	633.09	593.96	1,634.66	1,785.97	2,458.91
	(I)		451.90	253.64	366.60	945.97	1,390.80	1,903.15
		(g~ RnanceCost	1,289.76	1,110.12	1,136.87	2,821.37	3,537.57	4;852.07
	(h)	Other Expenses	50,473.43	37,936.37	34,242.02	1,03,828.05	1,11,702.21	1,48,.825.35
		Total Expenses
3	Profit/closs)	before Tax ( 1 - 2)	1,789.35	1,314.99	1,100.80	2,993.76	3,283.46	4,167.72
4		Tax Expenses			279.42	794.23	85945	1,121.68
	(a)	Current Tax	469.08(40.96	325.15(10.84	(0.75)	(62.41)	(28.26	(136.40)
	(b)	IDeferred Tax
5	Items	IProfit/(Loss) for the Period before Extraordinary	1,361.23	1,000.68	822.13	2,261.94	2,45227	3,182.44
		I		-	-	-	-	-
6		Extraordinary Items (net of Tax exoenses\	-
		IProfit/(Loss) for the Period	1,361.23	1,000.68	822.13	2,261.94	2,452.27	3,182.44
7		I				-	-	(50.89
8		Other ComorehensiveIncome	-	-	-
		I	1,361.23	1,000.68	822.13	2,261.94	2,452.27	3,131.55
9		Total ComprehensiveincomeI
10		Paid-up equity share capital (Face value of shareRs. 5/- each\	1,156.36	1,156.36	1,156.36	1,156.•36	1,156.36	1,156.36
		I
11		'Reserves excluding revaluation reserve (as perbalance sheet of Previous Accounting year)		-	-	-	-	27,124.45
		I
1.2	(i)	Earnin~s Per Share (EPS)Earning per Share (before ExtraordinaryItems) ofRs. 51-each (quarterly not	5.89	4.33	3.55	9.78	10.60	13.76
	(ii)	annualised)Earning per Share (after Extraordinary Items)of RS.5/- each (quarterly not annualised)	5.89	4.33	3.55	978	10.60	13.76

PRECISION WIRES INDIA LIMITED

REGD. OFFICE: SAlMAN HOUSE, J. A RAUL STREET, OFF SAYANI ROAD, PRABHADEVI, MUMBAI- 400025, INDIA. TEL: +91-22-24376281 FAX: +91-22-24370687 E-MAIL:mumbai@pwil.net WEB: www.precisionwires.CQm GIN: L313(JOMH1989PLC054356 WORKS: PLOT NO. 125/2, AMLI HANUMAN (66 KVA) ROAD, SILVASSA - 396 230, U.T OF D.N.H. & D.O., INDIA.

Page 212

Note:

The format for above results as prescribed in SEBl's Circular CIRlCFD/CMD/15/2015 dated November 30, 2015 has been modified to comply 1 with requirements of SEBl's Circular dated July 5, 2016, IND AS and Schedule III [Division III to the Companies Act, 2013 applicable to companies that are required to comply with IND AS.

The above Unaudited Financial Results for the Quarter and Nine Months Ended 31st December,2020 have been reviewed and recommended 2 by the Audit Committee and were taken on record and approved by the Board of Directors in their respective meetings held on 11th February, 2021.

The Statutory Auditor of the Company has carried out "Limited Review" of the above results as per Regulations 33 of SEBI (Listing Obligations 3 and Disclosure Requirements) Regulations, 2015.

Second Interim Dividend for FY 2020-21 was recommended @Rs 2/- ( 40%) per equity share of the face value of Rs. 5 each fully paid. The 4 Record date is fixed for payment of above Interim Dividend as 24th February,2021 . Interim Dividend shall be paid on or before 12th March, 2021 to those Equity Shareholders whose names will appear in the Register of Members as on Record Date.

5 The Company has only one reportable primary business segment as per IND AS 108, i.e. Manufacturing of Winding Wires.

6 Previous year's/period's figures have been regrouped/reworked Whe.revernecessary to make them comparable with the Current Year.

The outbreak of Coronavirus (COVID-19) globally and in India has impacted businesses and economic activities in general. The Company's sales during the quarter ended June 2020 was majorly impacted due to the nationwide lockdown and consequently Production I Sales were badly 7 hit. Howe.ver,the same has improved in the Second and Third Quarter. The Company expects to fully recover the carrying amounts of the assets and to comfortably discharge its liabilities I obligations. The Company is closely monitoring any material changes to future economic conditions.

Place: Mumbai Date 11th February, 2021

Vice Chairman & Managing Director DIN: 00003624

PARVATHY GANESH

CHARTERED ACCOUNTANT

Limited Review Report on Unaudited Quarterly and Year- to-date Standalone Financial Results of Precision Wires India Limited under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements )Regulations, 2015

To.

The Board of Directors of Precision Wires India Limited

• 1. i, have reviewed the accompanying statement of unaudited standalone financial results of PRECISION WIRES INDIA LIMITED ('the Company') for the quarter ended $31st$ December, 2020 and year to date results for the period from 1 April, 2020 to 31 December ,2020, which are included in the accompanying "Statement of Unaudited Financial Results for the Quarter ended December 31st 2020 together with the relevant notes thereon (the "statement"). The statement has been prepared by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations').
• This statement, which is the responsibility of the Company's Management and has $2.$ been approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards 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. My responsibility is to issue a report on these financial results based on my review.
• $3.$ I, conducted my review in accordance with the Standard on Review Engagement (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' specified under section 143(10) of the Companies Act, 2013. This standard requires that I plan and perform the review to obtain moderate assurance as to whether the financial results are free of material misstatement.
• $4.$ A review is limited primarily to inquiries of the Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. I have not performed an audit and accordingly, I do not express an audit opinion.
• 1. Based on my review conducted as above, nothing has come to my attention that causes me to believe that the Statement has not been prepared in all material respects in accordance with the Ind AS and the other recognised accounting practices and policies I and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 read with SEBI Circular dated July 5, 2016 including the manner in which it is to be disclosed, or that it contains any material

UDIN: 21132282AAAAAM1343 Place: Mumbai Date: 11th February, 2021