Rajratan Global Wire Ltd — Annual Report 2021

Apr 24, 2021

RGWLtzt-221

24th April,2021

To	To
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	'Exchange Plaza', C-1, Block G,
Dalal Street	I Bandra Kurla Complex,
Mumbai 400001	Bandra (E), Mumbai - 400 051
Code-517522	lSvmbol-RAJRATAN

Subject: Outcome of the Board meeting

Dear Sir

In continuation of our letter dated 15th April, following - ²⁰²¹, we would like to inform you the

• 1. The Board of directors of the Company in their meeting held today, which commenced at 10:30 am and concluded at ll35 pllt\, have approved and taken on record the Audited Standalone and Consolidated Financial Results of the Company for the Quarter and financial year ended on 31't March, 2021 and taken on record the Audit Report thereon, issued by M/s D S Mulchandani & Co., Chartered Accountant, Statutory auditor of the Company. Copy ofthe said financial results and audit reports are enclosed herewith.
• 1. We would like to state that IWs D S Mulchandani & Co., Chartered Accountant, Statutory auditor of the Company have issued audit report with unmodified opinion on the financial results. Declaration to this effect is enclosed herewith.
• 1. Recommended final dividend subject to approval of members at the ensuing Annual General Meeting @ 80 % i.e. Rs. 8.00 Per equity shares for financial year 2020-21 .

Kindly take the above information on your record.

Thanking you, Yours faithfully,

For Rajratan plobal Wire Chairman & Managing DIN - ^00114786 ff'-'.a} il,-""., j.! (.ia;.'/ Sunil

RAJRATAN GLOBAL WIRE LIMITED

Regd. Office: Rajratan House,l1l2, Meera Path, Dhenu Market, lndore_452oo3, Madhva Pradesh, lndia. Tel.: +91-731-2546401 Factory: 2Oo-8, Sector-], pithampLrr-454775, Dist. Dhar, Madhya Pradesh, lndia. Tel.: +91_7292-253429' 253375

RGWLnt-22t

24'h April,2L2l

To	lTo
BSE Limited	I National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	] 'Exchange Plaza', C-1, Block G,
Dalal Street	] Bandra Kurla Complex,
Mumbai ,100001	Bandra (E), Mumbai - 400 051
Code - 517522	Symbol - RAJRATAN

Scrip Code: 517522

Sub: Declaration pursuant to Regulation 33(3Xd) of SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015

Dear Sir,

In compliance with the provisions of 33(3)(d) of SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015 as amended, we hereby declare that statutory auditors of the Company, IWs D S Mulchandani & Co., Chartered Accountant, (FRN 021781C), have issued an Audit Report with unmodified opinion on standalone and consolidated audited financial results for the quarter and year ended on 3l't March, 2021.

Kindly take the above on your record.

Thanking You

Yours Faithfully FoT RAJRATAN GLOBAL

Chairman & Managing Director DIN - 00141786

Regd. Office: Ralratan House,l1l2, Meera Path, Dhenu l"larket, lndore-452oo3, Madhya Pradesh, lndia. Tel.: +91-731-2546401 Factoryi2oo-.8, Sector-], PithampuF454775, Dist. Dhar, Madhya Pradesh, lndia. Tel.i +91-7292-253429,253375

RAJRATAN GLOBAL WIRE LTD. Regd. Office:- Rajratan House, 11/2 Meera Path, Dhenu Market, Indore-452003 (M.P.) CIN No. L27106MP1988PLC004778

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

(Rs. In Lakhs) Except per share data

		STANDALONE				CONSOLIDATED
Sr.	Particulars		Quarter Ended		Year ended			Quarter Ended		Year ended
No.	٠	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020.
		Audited	Unaudited	Audited	Audited	Audited	Audited	Unaudited	Audited	Audited	Audited
	1 Revenue
	(i) Revenue from operations	11,709	10,339	6,679	33,745	28,614	18,365	15,922	12,465	54,654	48,021
	(ii) Other income	13	11	6	61	163	59	67	(76)	163	117
	Total Revenue (i+ii)	11,722	10,350	6,685	33,806	28,777	18,424	15,989	12,389	54,817	48,138
	2 Expenses
	(a) Cost of materials consumed	6,921	6,107	3,853	19,525	16,578	10,902	9,548	7,068	32,410	28,633
	(b) Purchases of Stock-in-trade	282	407		691	514	273	403	5	676	492
	(c) Changes in Inventories of Finished Goods,	162	96	(13)	603	(58)	364	3	653	593	227
	Stock-in-Trade and Work-in-Progress
	(d) Employee benefit expenses	457	384	380	1,506	1,476	791	735	677	2,810	2,705
	(e) Finance cost	258	226	224	908	914	384	336	339	1,339	1,339
	(f) Depreciation and amortisation expenses	175	168	157	666	534	360	359	332	1,410	1,209
	(g) Other expenses	1,622	1,584	1,437	5,161	5,541	2,793	2,613	2,450	8,954	9,162
	Total expenses	9,878	8,972	6,045	29,061	25,498	15,867	13,997	11,524	48,192	43,767
3	Profit/(Loss) before exceptional items and tax (1-	1,844	1,378	640	4,745	3,279	2,557	1,992	865	6,625	4,371
4	Exceptional items						$\overline{a}$		$\overline{a}$	÷.	$\overline{a}$
	Profit/(Loss) before tax (3+4)	1,844	1,378	640	4,745	3,279	2,557	1,992	865	6,625	4,371
6	Tax Expenses
	(i) Current Tax	463	332	141	1,124	701	502	444	193	1,387	755
	(ii) Deferred Tax	(266)	75	65	(75)	268	(266)	75	65	(75)	268
	(iii) Reversal of Deferred Tax Assets (Foreign										44
	Subsidiary) Total Tax Expenses (i+ii+iii)	197	407	206	1,049	969	236	519	258	1,312	1,067
	Net Profit/(Loss) for the period from continuing
	operations (5-6)	1,647	971	434	3,696	2,310	2,321	1,473	607	5,313	3,304

				STANDALONE			CONSOLIDATED
Sr.		Quarter Ended		Year ended			Quarter Ended		Year ended
No.	Particulars	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		Audited	Unaudited	Audited	Audited	Audited	Audited	Unaudited	Audited	Audited	Audited
8	Profit/(Loss) for the period from discontinued operations					$\qquad \qquad \blacksquare$
	Tax Expenses of discontinued operations (i) Current Tax (ii) Deferred Tax			$\ddot{}$ $\overline{\phantom{0}}$		$\overline{\phantom{a}}$	$\overline{a}$			$\overline{\phantom{0}}$
	Net Profit/(Loss) for the period from discontinued operations after Tax					$\overline{\phantom{0}}$	$\frac{1}{2}$			$\overline{a}$
9	Net Profit/(Loss) for the period (7+8)	1,647	971	434	3,696	2,310	2,321	1,473	607	5,313	3,304
$\mathbf b$	10 Other Comprehensive Income a Items that will not be reclassified to Profit and Loss Remeasurements of defined benefit plans Items that will be reclassified to Profit and Loss	28	(13)	(41)	(11)	(52)	28	(13)	(41)	(11)	(52)
	Exchange Difference on Translation of foreign operation						(320)	268	(205)	4	204
11	Total comprehensive Income for the Period $(9+10)$	1,675	958	393	3,685	2,258	2,029	1,728	360	5,306	3,457
	12 Total comprehensive Income attributable to Parent Non Controlling Interest					$\overline{\phantom{a}}$	2,029	1,728	360	5,306	3,457
14	13 Paid up Equity Share Capital (face Value Rs.10 Per Share) Earning per share (of Rs.10/- each)-for continuing Operations (not annualised)	1,015	1,015	1,015	1,015	1,015	1,015	1,015	1,015	1,015	1,015
	a) Basic b) Diluted	16.22 16.22	9.56 9.56	4.27 4.27	36.40 36.40	22.75 22.75	22.86 22.86	14.51 14.51	5.98 5.98	52.32 52.32	32.54 32.54

• mmi ( INDORE $\overline{\overline{C}}$

	Particulars	STANDALONE				CONSOLIDATED
Sr. No.		Quarter Ended		Year ended		Quarter Ended			Year ended
		31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020.
		Audited	Unaudited	Audited	Audited	Audited	Audited	Unaudited	Audited	Audited	Audited
	Earning per share (of Rs.10/- each)-for
	Discontinuing Operations (not annualised)
	a) Basic
	b) Diluted			$\overline{\phantom{a}}$
	Earning per share (of Rs.10/- each)-for continuing and Discontinuing Operations (not annualised)
	a) Basic	16.22	9.56	4.27	36.40	22.75	22.86	14.51	5.98	52.32	32.54
	b) Diluted	16.22	9.56	4.27	36.40	22.75	22.86	14.51	5.98	52.32	32.54

Notes:

1 The above results have been reviewed by the Audit Committee in it's meeting held on 24th April, 2021 and taken on record by Board of Directors In its meeting held on 24th April, 2021. The statutory auditors have conducted the audit of the financial statements and have expressed an unqualified audit opinion.

2 The above financial results have been prepared in accordance with the recognition and measurement principles stated therein prescribed under Section 133 of the Companies Act 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Agreement Regulation.

3 The figures for the quarter ended March 31, 2021 are balancing figures between audited figures in respect of full financial year ended March 31, 2021 and the unaudited published figure up to December 31, 2020 being the end of third quarter of the financial year which were subjected to limited review.

• 4 The company has excerised the option permitted under section 115BAA of the Income Tax Act 1961 as introduced by the Taxation Law (Amendment) Ordinance 2019. Accordingly, the deffered tax liabilities as at 31st March 2021 and estimate of tax expense for the year ended 31st March 2021 have been re-measured. As a result there is a reversal of Rs 266 Lakhs of Deferred Tax liability (DTL) and tax charges for the year have decreased by 65.57 lakhs.
• 5 The CFO certificate in respect of the above results in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015 has been placed before the Board of Directors.
• 6 The Company has identified "Tyre Bead Wire" as the single operating segment for the continued operations in the standalone and consolidated financial statement as per IndAS 108-Operative Segments.
• 7 Estimation of uncertainties relating to the global health pandemic COVID-19

i) The Company has been regularly assessing the market conditions as most of its customers being primarily into manufacturing tyres for two wheelers, passenger cars and other transport vehicles and being vulnerable to a disruption in supply chain and demand erosion. The Company has considered such impact to the extent known and available. However, the impact assessment of COVID-19 is a continuing process given the uncertainties associated with its nature and duration.

ii) The leases that the Company entered with lessors towards properties used as industrial land are long-term in nature and no significant changes in the terms of those leases are expected due to the COVID-19. Other leases for office premises are for the short-term and not involving any material amounts.

Date:-24th April, 2021 Place:- INDORE

For RAJRATAN GLOBAL WIRE LIMITED

$\sim$

INDO

(SUNIL CHORDIA) CHAIRMAN & MANAGING DIRECTOR DIN:00144786

RAJRATAN GLOBAL WIRE LTD. Regd. Officer Rairatan House, 11/2 Meera Path, Dhenu Market, lndore-452003 (M,P.) CIN No. 127106MP1988PtC004778 Audited Statement OI Assets And taibilities as at March 31, 2021

	NOII CURR€NT ASSETS
(a)	Property Plant and Equipm€nt	72,123		24,194	22,860
(b)	capital work-in-progress	729		u7	992
(c)	Goodwill	10		10	10
(d)	Other lntengible Assets	72		30	22
(e)	lntangibl€ Assets under Development	14		14	74
(0	FinancialAssets
	(i)lnvestments	5,069
	(ii) Other fina ncial assets	183		186	723
	Other non- current Assets	142		348	91
		18,881
	CURiENTASSETS
		2,491		5,101	4,132
	FinancialAssets
	(i)Trade Recievables	8,736		11,660	8,312
	(ii)Cash and Cash Equivalents	224		270	14
	(iii) 8a nk 8a lances other than (ii) above	471		480	296
	(iv)Loens				183
	{v) Other financial assets	2		2	2
	CurrentTax Assets (Net)	10		10	18
	Other CLrrrent Assets			758
	EQUITY AND LIABILITIES
	Equity (a) Equlty Share Capital
	(b) Other Equlty
				6.991
	CURRENT TIABILITIES
	(a) FinancialLiabilities
	(i)Borrowings			1,O31
	(ii)Trade Payables
	-Micro and Small €nterprises
	-Other thin Mlcro and Small Enterprises				4,029
	(ili) Other financial liabilities				96s
	(b) Other current liahilities (Net)				624
	( c) Current Tax liabilities				M

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DIN:00144786

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RAJRATAN GLOBAL WIRE LIMITED Regd. Office: Rajratan House, 11/2, Meera Path, Dhenu Market, Indore-452003 Website:rajratan@rajratan.co.in CIN No. L27106MP1988PLC004778)
STATEMENT OF AUDITED CASH FLOWS FOR THE YEAR ENDED 31st MARCH 2021

	SIMILINIEITI OF MODITLED CASH FLO 113 FOR THE TEAM LITDED SEST INFINIEIT LOLS		STANDALONE	CONSOLIDATED
		Audited	Audited	Audited Audited
		Year ended	Year ended	Year ended	Year ended
	Particulars	31st March, 2021	31st March, 2020	31st March, 2021	31st March, 2020
A.	CASH FLOW FROM OPERATING ACTIVITIES
	Profit before taxation	4,745	3,279	6,625	4,371
	Adjustments to reconcile profit & Loss to net cash provided by operating
	Depreciation and amortisation	666	534	1,410	1,209
	Profit/Loss on sales/Discard of Assets (Net)	5	(8)		(0.08)
	Finance Cost	908	914	1,339	1,339
	Remeasurement of defined Benefit Plans	(11)	(52)	(11)	(52)
	Operating Profit before Working Capital Changes	6,313	4,667	9,373	6,867
	Adjustment For:
	(Increase)/Decrease in Trade and Other Receivables	(2,408)	(310)	(3, 176)	(1, 424)
	(Increase)/Decrease in Financial Assets & Other Non	873	231	(321)	255
	Current Assets
	(Increase)/Decrease in Inventories	(171)	259	(968)	389 94
	(Increase)/Decrease in Other Bank Balances	(177)	94	(185)
	Increase/(Decrease) in Working Capital Limits	(1, 184)	(464)	(1, 263)	(593) 328
	Increase/(Decrease) in Trade and Others Payables	1,046 4,291	(426) 4,049	1,437 4,897	5,916
	Net Cash generated from / (used) in Operating Activities	(1, 124)	(766)	(1,253)	(777)
	Taxes (Paid) / Refund (net) Net Cash generated from / (used) in Operating Activities	3,167	3,283	3,644	5,139
B.	CASH FLOW FROM INVESTING ACTIVITIES
	Purchase of Tangible & Intengible Assets	(1,870)	(3, 422)	(2,755)	(4,532)
	Sale Proceeds from disposal of Tangible & Intengible Assets	39	39	49	41
	Investment in Shares of Rajratan Thai wire co	(1, 231)
	Proceeds from State Investment Subsidy	282		282
	Disposal of Investment		0.03		0.03
	Net Cash generated from / (used in) Investing Activities	(2,780)	(3, 383)	(2, 425)	(4, 491)
C.	CASH FLOW FROM FINANCING ACTIVITIES
	Proceeds from Long Term Borrowings	741	1,361	564	1,396
	Finance Cost	(908)	(914)	(1, 338)	(1, 339)
	Change in Foreign Currency Translation Reserve			(189)	(357)
	Dividend Paid		(290)		(290)
	Dividend Tax Paid		(60)		(60)
	Net Cash generated from / (used in) Financing Activities	(166)	97	(963)	(650)
	Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)	221	$-(3)$	256	(2)
	Opening Balance of Cash and Cash Equivalents	$\overline{7}$	11	14	16
	Closing Balance of Cash and Cash Equivalents	228	$\overline{7}$	270	14
	Net increase / (decrease) in Cash and Cash Equivalents	221	(3)	256	(2)
	Effect of exchange difference on translation of foreign currency cash and	(0.24)	0.11	(0.15)	0.11
	cash equivalents

Place: Indore Dated:-24th April, 2021

GLOBA For RAJRATAN GLOBAL WIRE LIMITED (SUNIL CHORDIA) INDORE CHAIRMAN & MANAGING DIRECTOR NDO

Shop No. 1, Ravi Ratan Palace, 1-A Prem Nagar, Near Manik Bagh Flyover, Indore (M.P.) Tel: +91-99811-74888, 0731-4037488. E-mail: dsmulchandanico@gmail.com

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

To. The Board of Directors Rairatan Global Wire Limited Indore

We have audited the quarterly standalone financial results of M/s. Rairatan Global Wire Limited ("The Company") for the quarter ended March 31, 2021 and the year to date results for the period April 1, 2020 to March 31, 2021, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

These standalone quarterly financial results as well as the year to date financial results have been prepared on the basis of the interim financial statements, which are the responsibility of the Company's management.

Our responsibility is to express an opinion on these financial results based on our audit of such interim financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34) for Interim Financial Reporting, prescribed, under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder; or by the Institute of Chartered Accountants of India, as applicable and other accounting principles generally accepted in India.

We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatement(s).

An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion.

Shop No. 1, Ravi Ratan Palace, 1-A Prem Nagar, Near Manik Bagh Flyover, Indore (M.P.) Tel: +91-99811-74888, 0731-4037488. E-mail: dsmulchandanico@gmail.com

In our opinion and to the best of our information and according to the explanations given to us these quarterly financial results as well as the year to date results:

• are presented in accordance with the requirements of Regulation 33 of i. the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and
• give a true and fair view of the net profit and total comprehensive income ii. and other financial information for the quarter ended March 31 2021 as well as the year to date results for the period from April 1, 2020 to March 31, 2021.

For DS Mulchandani & Co. Chartered Accountants 踪RN: 021781C (ZA. Deepak S Mulchandani) Proprietor M.No: 404709

Place: Indore Date:24^th April, 2021 UDIN: 21404709 AAAAA $6$ 2345

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Shop No. 1, Ravi Ratan Palace, 1-A Prem Nagar, Near Manik Bagh Flyover, Indore (M.P.) Tel: +91-99811-74888, 0731-4037488. E-mail: dsmulchandanico@gmail.com

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

To, Board of Directors Rairatan Global Wire Limited Indore

• We have audited the accompanying Statement of Consolidated Financial $1.$ Results of Rajratan Global Wire Limited ("The Company") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income for the year ended March 31, 2021 being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• This Statement, which includes Consolidated Financial Results of Rajratan $2.$ Global Wire Limited and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income and approved by the Parent's Board of Directors, has been compiled from the related consolidated financial statements/ consolidated financial information which has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard, prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India.

Our responsibility is to express an opinion on the Statement based on our audit of such consolidated financial statements/ consolidated financial information.

We conducted our audit in accordance with the Standards on Auditing $3.$ specified under Section 143(10) of the Companies Act 2013. Those Standards require that we comply with ethical requirements issued by Institute of Chartered Accountants of India (ICAI) which makes us independent of the company, and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error, In making those risk assessments, the auditor considers internal control relevant to the Parent's preparation and fair presentation of the Statement in order $\n n$

Page 1 of 3

Shop No. 1, Ravi Ratan Palace, 1-A Prem Nagar, Near Manik Bagh Flyover, Indore (M.P.) Tel: +91-99811-74888, 0731-4037488. E-mail: dsmulchandanico@gmail.com

to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the Parent's internal financial control with reference to the Statement. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement.

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

We believe that the audit evidence obtained by us and the audit evidence obtained by the branch auditors and other auditors in terms of their reports referred to in paragraph below, is sufficient and appropriate to provide a basis for our audit opinion.

• $\overline{4}$ . 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 auditors on separate financial statements of joint operations of the Group and subsidiary, referred to in paragraph below, the Statement:
• a. includes the results of the following entities: Rairatan Thai Wire Limited
• b. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• gives a true and fair view in conformity with the recognition and c. measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated total comprehensive income (comprising of net profit and other comprehensive income) and other financial information of the Group for the year ended March 31, 2021
• We did not audit the financial statements of Rajratan Thai Wire Limited, 5. subsidiary included in the consolidated financial results, whose financial statements without giving effect to intra group transactions reflect total assets of Rs.1,76,62,41,083/- as at total revenues of Rs.2,10,71,52,595/and, total net profit after tax of Rs. 16, 16, 36, 728/ - for the for the year ended March 31, 2021 and cash outflows (net) of Rs.1,41,76,597/- for the year ended March 31, 2021 as considered in the consolidated financial results. These financial statements have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on the reports of the other auditors 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. $\dot{M}$

Page 2 of 3

Shop No. 1, Ravi Ratan Palace, 1-A Prem Nagar, Near Manik Bagh Flyover, Indore (M.P.) Tel: +91-99811-74888, 0731-4037488. E-mail: dsmulchandanico@gmail.com

1. The Statement includes the results for the quarter ended March 31, 2021 being the balancing figures between audited figures of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subjected to limited review by us.

For DS Mulchandani & Co. A Chartered Accountants artered FRN: 021781C ∦. Deepak S Mulchandani) Proprietor M.No: 404709

Place: Indore Date: 24th April, 2021 UDIN: $21404709AAAAAB8287$ .