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Rajshree Polypack Limited Annual Report 2019
62178_rns_2019-05-29_86115ed3-6db2-448b-9c43-6a9780bf927e.pdf
Annual Report
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Rajshree Polypack Ltd.
(Formerly Known as Rajshree Polypack Pvt. Ltd.) MFG of Plastic Rigid Sheets & Thermoformed Packaging Products Regd Office.: Unit No.503-504, Lodha Supremus, Road No. 22, Near New Passport Office, Wagle Estate, Thane (W) - 400604. India. ■ Tel. No.: + 91-22 25818200 Ne Fax No.: +91-22-25818250 CIN :U25209MH2011PLC223089
May 28, 2019
To, Listing Department National Stock Exchange of India Limited, Exchange Plaza, Plot No. C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400051
Symbol:- RPPL
Dear Sir/Madam.
Subject: Outcome of Board Meeting
Pursuant to Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), this is to inform you that the Board of Directors of the Company at their meeting held today i.e. Tuesday, May 28, 2019, have, inter alia:
- Approved the Audited Financial Results for the half year and financial year ended 31st March, 2019 as per Regulation 33 of SEBI Listing Regulations.
The Audited Financial Results for the half year and financial year ended $31st$ March, 2019 along with the Auditors' Report issued by the Statutory Auditor of the Company i.e. SGCO & Co. LLP, Chartered Accountants, dated May 28, 2019 are enclosed herewith as Annexure-I.
- The Board of Directors of the Company deferred the decision for declaration of final dividend, if $\overline{2}$ . any, on equity shares of the Company, for the financial year ended $31st$ March, 2019 to the next Board Meeting, of which intimation will be given in advance;
- With a view to improve production efficiency and profitability of the Company, the Board of $\overline{3}$ . Directors has given in-principal approval to proposal of consolidation and modernization of Unit-I and Unit-III of the Company;
- $\overline{4}$ . The Board of Directors has also given in-principal approval to procurement of Digital Printing Machine, one of the 1st such machine in India, which will help the Company penetrate B2C space with specific value added products.
The meeting of the Board of Directors of the Company was commenced at 12:30 p.m. and concluded at 07.45 p.m.
Kindly take the same on record and oblige.
FOR RAJSHREE POLYPACK LIMITED
Mitali Rajendra Shah Company Secretary & Compliance Officer Membership: A48197
Place: Daman
Encl: As Above
Corporate Office : Unit No. 212, Lodha Supremus, Road No. 22, Near New Passport Office, Wagle Estate, Thane (W) - 400604. India E-mail : [email protected] debtite: www.rajshreepolypack.com ■ Tel. No.: + 91-22 25818271
SGCO&Co.LLP Chartered Accountants
ANNEXURE - I
Auditor's Report on Annual Financial Results of Rajshree Polypack Limited Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended
To
The Board of Directors
Rajshree Polypack Limited
-
- We have audited the accompanying statement of Financial Results of Rajshree Polypack Limited (the "Company"), for the half year ended March 31, 2019 and the year to date results for the period April 1, 2018 to March 2019 and the Statement of Assets and Liabilities as on that date together with the notes thereon (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulation, 2015"). This half yearly financial results as well as the year to date financial results have been prepared on the basis of the 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 financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard for Financial Reporting (AS 25), prescribed, under Section 133 of the Companies Act, 2013 read with relevant rules issued there under, 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 specified under Section 143 (10) of the Act. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatements. 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.
4A, Kaledonia. 2nd Floor, Sahar Road, Near Andheri Station. Andheri (East), Mumbai - 400 069
Tel. +91 22 6625 6363 Fax. +91 22 6625 6364 E-mail: [email protected] www.sgco.co.in
Mumbai · Delhi
SGCO & Co. LLP
Chartered Accountants
-
- In our opinion and to the best of our information and according to the explanations given to us these half yearly financial results as well as the year to date results:
- are presented in accordance with the requirements of Regulation 33 of the SEBI Listing $(i)$ Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and
- give a true and fair view of the net profit and other financial information for the half year $(ii)$ ended March 31, 2019 as well as the year to date results for the period from April 1, 2018 to March 31,2019.
For S G C O & Co. LLP Chartered Accountants Firm's Registration No. 112081W/W100184
Suresh Murarka
Partner Mem. No. 044739
Date: 28 May, 2019.
Place : Mumbai
Rajshree Polypack Ltd.
(Formerly Known as Rajshree Polypack Pvt. Ltd.) MFG of Plastic Rigid Sheets & Thermoformed Packaging Products
Regd Office.: Unit No.503-504, Lodha Supremus, Road No. 22, Near New Passport Office, Wagle Estate, Thane (W) - 400604. India. ■ Tel. No.: + 91-22 25818200 16 Fax No.: +91-22-25818250 CIN : U25209MH2011PLC223089
Statement of Audited Financial Results for the Year ended 31st March, 2019
| Amount (Rs. In Lakhs) | ||||
|---|---|---|---|---|
| Particulars | Half year ended | Year ended | ||
| 31.03.2019(refer note 8) | 30.09.2018(Unaudited) | 31.03.2019(Audited) | 31.03.2018(Audited) | |
| 1. INCOME | ||||
| a. Revenue from Operations(Gross) | 5,789.15 | 6,712.21 | 12,501.36 | 11,590.95 |
| Less: Excise Duty on Sales | ||||
| Revenue from Operations(Net) [Refer Note 5] | 5,789.15 | 6,712.21 | 358.23 | |
| b. Other Income | 205.03 | 45.22 | 12,501.36250.25 | 11,232.73 |
| Total Income (a+b) | 5,994.18 | 6,757.43 | 12,751.61 | 65.4811,298.20 |
| 2. Expenses | ||||
| a. Cost of Materials consumed | 3,270.43 | 3,966,56 | 7,236.99 | 6,247.39 |
| b. Purchases of stock-in-trade | 24.37 | 37.39 | 61.76 | 47.42 |
| c. Change in Inventories of Finished Goods and Work-in-Progress | ||||
| (21.82) | 13.88 | (7.94) | 166.84 | |
| d. Employee benefits expenses | 552.67 | 517.16 | 1,069.83 | 882.03 |
| e. Finance costs | 92.11 | 112.78 | 204.89 | 240.13 |
| f. Depreciation & amortizations expenses | 283.70 | 272,78 | 556.48 | 523.82 |
| g. Other Expenses | 1,154.18 | 1,119.80 | 2,273.98 | 1,835.51 |
| Total Expenses (a to h) | 5,355.65 | 6,040.34 | 11,395.99 | 9,943.15 |
| 3. Profit / (Loss) before tax (1-2) | 638.53 | 717.09 | 1,355.62 | 1,355.05 |
| 4. Tax expense | ||||
| -Current Tax | 191.36 | 187,98 | 379.34 | 318.77 |
| -MAT Credit Entitlement/(Utilised) | 115.99 | |||
| -Deferred Tax | (94.82) | 20.17 | (74.65) | (40.77) |
| -Short/(Excess) Provision for earlier years | 5,29 | |||
| 5. Net Profit / (Loss) after tax (3-4) | 542.00 | 508.93 | 1,050.93 | 955.77 |
| 6. Paid-up equity share capital (Face value Rs 10/- each) | 1,123.40 | 1,123.40 | 1,123.40 | 797.61 |
| 7. Reserves excluding reveluation reserves | 8,062.74 | 7,767.26 | 8,062.74 | 3,900.84 |
| 8. Earnings per share of Re. 10/- each | ||||
| (a) Basic (In Rs. not annualised) | 5.58 | 5.24 | 10.83 | 11.98 |
| (b) Diluted (In Rs. not annualised) | 5,58 | 5.24 | 10.83 | 11.98 |
| See accompanying Notes to the Financial Results |
Corporate Office : Unit No. 212, Lodha Supremus, Road No. 22, Near New Passport Office, Wagle Estate, Thane (W) - 400604. India E-mail : [email protected] < http://website:/www.rajshreepolypack.com Tel. No.: + 91-22 25818271
Unit I : Plot No. 32 & 33, Silver Industrial Estate, Bhimpore, Daman -396210 (U.T.) India. Unit II : Plot No. 370/2(3), Vill-Kachigam, Vapi-Daman Road, Daman - 396210 (U.T.) India. Unit III : Survey No. 184/1 (39), Panchal Udyog Nagar, Vill-Bhimpore, Nani Daman - 396210 (U.T.) India.
Notes:
-
The audited financial results of the company for the half year and year ended March 31, 2019 have been reviewed by the Audit Committee at it's meeting held on May 25, 2019 and approved by the Board of Directors at it's meeting held on May 28, 2019.
-
The Company has issued 2,97,939 Equity Shares on private placment of face value of Rs.10/- each at a premium of Rs.110/- aggregating to Rs. 357.53 lakhs, vide their members approval in the Extra-Ordinary General Meeting of the Company held on 6th August, 2018 ("Pre-IPO Placement").
-
During the year, the Company has issued 29,60,000 equity shares of face value of Rs.10/- each at a premium of Rs.110/- per share total issue size amounting to Rs. 3552 Lakhs, through Initial Public Offer (IPO) vide their members approval in the Extra-Ordinary General Meeting of the Company held on 19th September, 2018, pursuant to Section 62(1)(c) and all other applicable provision of Companies Act, 2013, Companies (Prospectus and Allotment of the Securities) Rules, 2014 and in accordance with the provisions of Chapter X(B) of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2009, which was fully subscribed. Consequently, the equity shares of the company has got listed on the SME platform of NSE Limited w.e.f. 24th September, 2018.
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In the opinion of the Management, the Company is mainly engaged in the business of manufacturing "Plastic Packaging Products". All other activities of the Company revolve around the main business and as such, there is no primary business reportable segments.
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Excise duty is included in revenue from operations of period upto 30th June, 2017 (FY 2017-18) and revenue from operations for the subsequent periods are net of Goods and Service Tax (GST).
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As per MCA notification dated 16th February 2015, companies whose shares are listed on SME as referred in chapter XB of SEBI(issue of capital disclosure requirement) regulation 2009 are exempted from the compulsory requirement of adoption of Ind AS. As the company is covered under exepted category, it has not adopted Ind-AS for preparation of Financial results.
-
Utilisation of Pre - IPO and IPO proceeds is as follows :
(Amount in Lakhs)
| Particulars | Projected utilizationof as per the Objects upto 31st March,of Prospectus | Actual utilization2019 | Unutilised balances |
|---|---|---|---|
| Capital Expenditure for Setting up of Factory (Unit IV at Daman) | 3.624.04 | 405.98 | 3,218.06 |
| General corporate purpose | 64.05 | 55.40 | 8.65 |
| Issue related expenses | 221.44 | 221.44 | |
| Total | 3.909.53 | 682.82 | 3.226.71 |
The unutilized IPO proceeds as on 31st March, 2019, were kept with scheduled commercial banks.
-
The figures for half year ended 31st March 2019 are balancing figures between the audited figures of the full financial year and the reviewed year-to-date figures up to the first half year of the financial year.
-
The Figures for the corresponding previous year have been reclassified/regrouped wherever considered necessary.
For Raishree Polypack Limited
$\sqrt{2}Q$ aus enva
Place : Daman Date: 28 May, 2019
Ramswaroop Thard Chairman & MD (DINAO.: 02835505)
Rajshree Polypack Limited
Audited Financial Results for the Year Ended March 31, 2019 Statement of Assets and Liabilities
| Amount (Rs. In Lakhs) | |||
|---|---|---|---|
| As at | As at | ||
| Particulars | 31.3.2019 | 31.3.2018 | |
| (Audited) | (Audited) | ||
| EQUITY AND LIABILITIES | |||
| Shareholders' funds | |||
| Share capital | 1,123.40 | 797.61 | |
| Reserves and surplus | 8,062.74 | 3,900.84 | |
| 9,186.14 | 4,698.44 | ||
| Non-current liabilities | |||
| Long-term borrowings | 730.81 | 1,384.88 | |
| Deferred tax liabilities (Net) | 361.07 | 435.72 | |
| 1,091.87 | 1,820.60 | ||
| Current liabilities | |||
| Short-term borrowings | 162.53 | 101.02 | |
| Trade payables | |||
| - Due to Micro, Small & Medium Enterprises | 4.34 | 18.78 | |
| - Due to Others | 1,038.99 | 1,105.77 | |
| Other current liabilities | 850.08 | 792.34 | |
| Short-term provisions | 81.01 | 25.56 | |
| 2,136.94 | 2,043.46 | ||
| 12,414.96 | 8,562.50 | ||
| ASSETS | |||
| Non-current assets | |||
| Property, Plant & Equipment | |||
| - Tangible assets | 4,434.33 | 4,459.77 | |
| - Intangible Assets | 2.36 | 3.03 | |
| Capital work-in-progress | 18.27 | ||
| 4,454.96 | 4,462.80 | ||
| Non-current investments | 4.82 | 34.50 | |
| Long-term loans and advances | 759.23 | 352.66 | |
| Other Non Current Assets | 8.81 | ||
| 764.05 | 395.97 | ||
| Current Assets | |||
| Inventories | 1,298.66 | 1,101.07 | |
| Trade receivables | 2,077.34 | 2,044.62 | |
| Cash and bank balances | 3,496.70 | 329.26 | |
| Short-term loans and advances | 323.26 | 202.80 | |
| Other Current Assets | 25.98 | ||
| 7,195.96 | 3,703.72 | ||
| 12,414.96 | 8,562.50 |
Rajshree Polypack Ltd.
(Formerly Known as Rajshree Polypack Pvt. Ltd.) MFG of Plastic Rigid Sheets & Thermoformed Packaging Products Regd Office.: Unit No.503-504, Lodha Supremus, Road No. 22, Near New Passport Office, Wagle Estate, Thane (W) - 400604. India. ■ Tel. No.: + 91-22 25818200 1® Fax No.: +91-22-25818250 CIN : U25209MH2011PLC223089
May 28, 2019
To,
Listing Department National Stock Exchange of India Limited, Exchange Plaza, Plot No. C-1, Block G, Bandra Kurla Complex. Bandra (E), Mumbai - 400051
Symbol:- RPPL
Dear Sir/Madam,
DECLARATION IN RESPECT OF UNMODIFIED OPINION ON AUDITED FINANCIAL RESULTS FOR THE HALF-YEAR AND FINANCIAL YEAR ENDED 31st MARCH, 2019
Pursuant to Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, we hereby confirm and declare that Statutory Auditor of the Company i.e. M/s. SGCO & Co. LLP, Chartered Accountants, have issued an audit report dated May 28, 2019 with unmodified opinion on the Audited Financial Results of the Company for the half-year and financial year ended 31st March, 2019.
Request you to kindly take the same on record and oblige.
Thanking you, Yours faithfully, FOR RAJSHREE POLYPACK LIMITED ard
auch
Ramswaroop Radheshyam Thard Chairman and Managing Director DIN:- 02835505
Date: May 28, 2019 Place: Daman
Unit | : Plot No. 32 & 33, Silver Industrial Estate, Bhimpore, Daman -396210 (U.T.) India. Unit II : Plot No. 370/2(3), Vill-Kachigam, Vapi-Daman Road, Daman - 396210 (U.T.) India. Unit III : Survey No. 184/1 (39), Panchal Udyog Nagar, Vill-Bhimpore, Nani Daman - 396210 (U.T.) India.