AI assistant
Refex Industries Limited Annual Report 2020
59267_rns_2020-06-30_99bc3229-30df-4b17-8be7-e33c753a25ed.pdf
Annual Report
Open in viewerOpens in your device viewer
To,
BSE Limited, National Stock exchange of India Ltd The Corporate Relationship Department, Exchange Plaza, 5th Floor, 1st Floor, New Trading Wing, Plot No C/1, G Block Rotunda Building, Bandra –Kurla Complex, P.J.Towers, Dalal Street, Bandra (E) Mumbai – 400 001 Mumbai – 400 051
Dear Sir/Madam, Sub: Outcome of the Board Meeting Under Reg. 30 of SEBI (LODR) Regulations, 2015
Pursuant to the requirements of the Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you that the Board of Directors of the Company in their meeting held today i.e. June 30, 2020, has approved the Audited Standalone and Consolidated Financial Statements of the Company for the year ended March 31, 2020.
We hereby enclose the following:
-
- A copy of Audited Financial Results (Standalone and Consolidated) of the Company for the year ended March 31, 2020 along with Balance Sheet for that period. (Annexure‐1).
-
- Auditors Report on Standalone and Consolidated Financial Results. (Annexure‐2).
-
- Declaration from the Managing Director
You are requested to take the above information on your record.
Thanking you,
Yours Faithfully,
June 30, 2020
To,
BSE Limited, National Stock exchange of India Ltd The Corporate Relationship Department, Exchange Plaza, 5th Floor, 1st Floor, New Trading Wing, Plot No C/1, G Block Rotunda Building, Bandra –Kurla Complex, P.J.Towers, Dalal Street, Bandra (E) Mumbai – 400 001 Mumbai – 400 051
Dear Sir/Madam, Sub: Declaration Under Regulation 33 (3)(d) of SEBI(LODR) Regulations, 2015
Pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulations, 2015 as amended, I Anil Jain, Managing Director of the Company, hereby declare that M. Krishnakumar & Associates, Chartered Accountants, Chennai, Statutory Auditors of the Company has issued an Audit Report with Unmodified Opinion on the Audited Financial Statements of the Company (Standalone and Consolidated) for the Year ended March 31, 2020.
Kindly acknowledge the receipt of the same.
Thanking you,
For Refex Industries Limited
Anil Jain Managing Director DIN: 00181960
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors of M/s. Refex Industries Limited
Report on the Audit of the Standalone Financial Results
Opinion
We have audited the standalone Quarterly financial Results of Refex Industries Limited ("the Company") for the quarter ended $31st$ March 2020 and the year-to-date results for the period from 1st April, 2019 to 31st March, 2020, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 'Listing Regulations').
In our opinion and to the best of our information and according to the explanations given to us, these annual financial results:
- $(i)$ are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- $(ii)$ give a true and fair view of the standalone net profit and other comprehensive income and other financial information for the quarter ended 31st March, 2020 as well as the year-to-date results for the period from 1st April, 2019 to 31st March, 2020.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Management's Responsibilities for the Standalone Financial Results
These quarterly financial results as well as the year to date standalone financial results have been prepared on the basis of the financial statements. The Company's Board of Directors are responsible for the preparation of these standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate implementation and maintenance of accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the
33, (Old No. 17), School View Road, R.K. Nagar, Chennai - 600 028 E-mail: [email protected]
accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the financial results, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
· Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal controls;
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors;
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern; and
33, (Old No. 17), School View Road, R.K. Nagar, Chennai - 600 028 E-mail: [email protected]
M. Krishnakumar & Associates Chartered Accountants
(0) 2461 4932 (R) 2491 3521 93821 26465
• Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters
The annual standalone financial results include the results for the quarter ended 31st March, 2020 being the balancing figure between audited figures in respect of the full financial year and the published unaudited figures up to the third quarter of the current financial year which were subject to limited review by us
For M. Krishnakumar & Associates, Chartered Accountants
ICAI Firm Registration Number: 006853S hool View Road R.K. Nagar, Chennai - 600 02 24614931 M. Krishna Kumar Proprietor
Membership No.: 203929 Firm Registration No. with ICAI: 006853S
UDIN: 20203929AAAACE8071 Place: Chennai Date:30.06.2020
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors of M/s. Refex Industries Limited
Report on the Audit of the Consolidated Financial Results
Opinion
We have audited the Consolidated Quarterly financial Results of Refex Industries Limited ("the Company") for the quarter ended $31st$ March 2020 and the year-to-date results for the period from $1st$ April, 2019 to 31st March, 2020, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 'Listing Regulations').
In our opinion and to the best of our information and according to the explanations given to us, these annual financial results:
- $(i)$ include the annual financial results of subsidiary namely Vituza Solar Energy Limited.
- $(ii)$ are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard: and
- $(iii)$ give a true and fair view of the Consolidated net profit and other comprehensive income and other financial information for the quarter ended 31st March, 2020 as well as the year-to-date results for the period from 1st April, 2019 to 31st March, 2020.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Management's Responsibilities for the Consolidated Financial Results
These quarterly financial results as well as the year to date Consolidated financial results have been prepared on the basis of the financial statements. The Company's Board of Directors are responsible for the preparation of these Consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate implementation and maintenance of accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the financial results, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Consolidated Financial Results
Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the Consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal controls;
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors;
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Consolidated financial results or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern; and
• Evaluate the overall presentation, structure and content of the Consolidated financial results, including the disclosures, and whether the Consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
33, (Old No. 17), School View Road, R.K. Nagar, Chennai - 600 028 E-mail: [email protected]
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters
The annual consolidated financial results include the results for the quarter ended 31st March, 2020 being the balancing figure between audited figures in respect of the full financial year and the published unaudited figures up to the third quarter of the current financial year which were subject to limited review by us.
33 (Old No. 17) School View Road Nagar, Chennai - 600 02 $73.61493$
For M. Krishnakumar & Associates, Chartered Accountants ICAI Firm Registration Number: 006853S & As MAR
M. Krishna Kumar IERED ACCOUN Proprietor Membership No.: 203929 Firm Registration No. with ICAI: 006853S
UDIN: 20203929AAAACE8071
Place: Chennai Date:30.06.2020
`
Refex Industries Limited
No.11th Floor , Bascon Futura IT Park New.No:10/2, Old No: 56 L, Venkat Narayan Road, T.Nagar, Chennai-600 017.
CIN No.L45200TN2002PLC049601
REFEX INDUSTRIES LIMITED STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2020
| Rs. In Lakhs | ||||||
|---|---|---|---|---|---|---|
| Part-I | Standalone | |||||
| Quarter Ended | Year Ended | |||||
| S.No. | Particulars | March 31,2020 | Dec 31,2019 | March 31,2019 | March 31,2020 | March 31,2019 |
| Audited | (Unaudited) | Audited | ||||
| 1 | Income | |||||
| Revenue From Operations | 12,388.91 | 23,684.41 | 20,719.27 | 66,074.43 | 46,105.11 | |
| 2 | Other Income | 206.67 | 1.43 | 42.75 | 479.09 | 185.38 |
| Total - Net Income from Operations | 12,595.58 | 23,685.84 | 20,762.02 | 66,553.52 | 46,290.48 | |
| 3 | Expenses | |||||
| Cost of Materials Consumed | 8,707.97 | 14,999.16 | 1,835.55 | 43,010.87 | 16,976.38 | |
| Purchase of Traded goods | - | - | 5876.68 | - | 7,090.59 | |
| Purchase of stock in trade | 2,599.55 | 3,210.38 | 11909.53 | 12 ,293.90 | 16,480.40 | |
| Changes in inventories of finished goods, work-in-progress and stock-in | (6.16) | 354.11 | -1121.85 | 440.44 | (236.09) | |
| tradeEmployee Benefits Expense | 75.70 | 83.18 | 45.95 | 312.95 | 243.94 | |
| Depreciation and Amortisation Expense | 68.27 | 26.18 | 25.17 | 139.32 | 96.23 | |
| Finance Costs | 85.40 | 1.78 | 9.75 | 90.57 | 29.67 | |
| Other expenses | 572.58 | 2,606.95 | 699.35 | 4 ,881.35 | 2,722.41 | |
| Total expenses | 12,103.31 | 21,281.73 | 19280.12 | 61169.41 | 43,403.52 | |
| 4 | Profit / (Loss) from ordinary activities before Tax | 492.27 | -2,404.11 | 1,481.90 | 5,384.12 | 2,886.96 |
| 5 | Profit/(Loss) before exceptional items and extraordinary items and Tax | 492.27 | 2,404.11 | 1,481.90 | 5,384.12 | 2,886.96 |
| 6 | Exceptional items | (581.46) | - | - | (581.46) | - |
| 7 | Profit/(Loss) before Tax | (89.19) | 2,404.11 | 1,481.90 | 4,802.66 | 2,886.96 |
| 8 | Tax Expenses | |||||
| Current tax expense for current year | (87.19) | 420.09 | - | 767.56 | 646.44 | |
| (Less): MAT credit (where applicable) | 742.57 | - | - | 646.44 | (646.44) | |
| Current tax expense relating to prior yearsNet current tax expense | -- | -- | -- | -- | - | |
| Deferred tax (Asset) | (366.21) | 258.62 | (276.44) | 75.42 | (276.44) | |
| Total Tax Expense | 289.17 | 678.71 | (276.44) | 1,489.41 | (276.44) | |
| Net Profit /Loss for the Period/Year | (378.36) | 1,725.40 | 1,758.33 | 3,313.25 | 3,163.40 | |
| 9 | Profit/(Loss) for the period from continuing operations | (378.36) | 1,725.40 | 1,758.33 | 3,313.25 | 3,163.40 |
| 10 | Profit/(Loss) from discontinuing operations | - | - | - | - | |
| 11 | Tax expenses of discontinuing operations | - | - | - | - | |
| 12 | Profit/(Loss) from Discontinuing operations | - | - | - | - | |
| 13 | Other Comprehensive Income, net of income tax | - | - | |||
| a Items that will not be reclassified to Profit or loss account | ||||||
| Remeasurements of defined benefit plan actuarial gains/ (losses) | (5.19) | - | (0.07) | (5.19) | (0.07) | |
| 14 | Profit/(Loss) for the period/year | (383.55) | 1,725.40 | 1,758.26 | 3,308.05 | 3,163.33 |
| 15 | Paid-up Equity Capital (face value of share - Rs 10/- each) | 1,547.52 | 1,547.52 | 1,547.52 | 1,547.52 | 1,547.52 |
| 16 | Reserves excluding revaluation reserves | NA | NA | NA | 6,038.01 | 2,729.96 |
| 17 | Basic and Diluted Earning per share | |||||
| (before extraordinary items) | (2.48) | 11.15 | 11.36 | 21.38 | 20.44 | |
| 18 | Basic and Diluted Earning per share | |||||
| (after extraordinary items) | (2.48) | 11.15 | 11.36 | 21.38 | 20.44 |
| Part-II Segment wise Revenue, Results and Capital Employed Under Regulation 33 (3) (f) of SEBI (LODR), Regulations 2015(Rs. In Lakhs) | ||||||
|---|---|---|---|---|---|---|
| Standalone | ||||||
| Ouarter Ended | Year Ended | |||||
| S.No. | Particulars | March 31,2020 | Dec 31,2019 | March 31,2019 | March 31,2020 | March 31,2019 |
| Audited | (Unaudited) | (Audited) | ||||
| Segment Revenue (Net Sales/Income) | ||||||
| Coal & Ash Handling Business | 11,411.22 | 22,142.00 | 12,450.38 | 58,905.59 | 33,520.17 | |
| Solar Power - Generation and Related Activities | 318.48 | 288.93 | 6,545.65 | 1,485.27 | 7,470.81 | |
| Refrigerant Gas-Manufacturing (Refilling) and Sales | 442.05 | 382.66 | 453.06 | 2,010.81 | 1,325.57 | |
| Sale Of Service | 217.16 | 870.82 | 1.270.18 | 3,672.77 | 3,206.51 | |
| Minerals TradingTotal | 582.06 | |||||
| 12.388.91 | 23,684.41 | 20,719.27 | 66,074.43 | 46,105.11 | ||
| 2 | Segment Results | |||||
| (Profit /Loss before Interest and Tax) | ||||||
| Coal & Ash Handling BusinessSolar Power - Generation and Related Activities | 566.08(8.89) | 1,724.50(99.58) | 250.3129.33 | 4,013.31(212.53) | 1,710.7612.06 | |
| Refrigerant Gas-Manufacturing(Refilling) and Sales | (55.70) | (12.56) | 288.14 | (141.00) | 31.60 | |
| Sale Of Service | 47.55 | 867.91 | 988.81 | 1,825.93 | 1.070.92 | |
| Minerals Trading | 19.13 | 30.32 | ||||
| Corporate | (835.19) | (75.93) | (131.66) | (1, 135.06) | 147.18 | |
| Total | (286.16) | 2,404.34 | 1,444.06 | 4,350.65 | 3,002.85 | |
| Less: | Finance Cost | (9.93) | 1.66 | 4.90 | 7.45 | 24.83 |
| Add: | Other Income | 187.05 | 1.43 | 42.75 | 459.46 | 185.38 |
| Profit /Loss before Tax | (89.18) | 2,404.11 | 1,481.90 | 4,802.66 | 3,163.40 | |
| 3 | Segment Assets | |||||
| Coal & Ash Handling Business | 1,378.89 | 3,046.18 | 11,222.18 | 1,378.89 | 11,222.18 | |
| Solar Power - Generation and Related Activities | 833.17 | 101.69 | 928.37 | 833.17 | 928.37 | |
| Minerals Trading | ||||||
| Refrigerant Gas-Manufacturing (Refilling) and Sales | 2,836.26 | 2,841.85 | 2,106.68 | 2,836.26 | 2,106.68 | |
| Sale Of Service | ||||||
| Unallocated | ||||||
| Corporate | 8,748.57 | 6,454.32 | 1,598.08 | 8,748.57 | 1,598.08 | |
| Total-Segment Assets | 13,796.88 | 12,444.04 | 15,855.32 | 13,796.88 | 15,855.32 | |
| Segment Liabilities | ||||||
| Coal & Ash Handling Business | 2.495.59 | 11.150.03 | 2,495.59 | 11,150.03 | ||
| Solar Power - Generation and Related Activities | 994.71 | 214.16 | 153.98 | 994.71 | 153.98 | |
| Minerals TradingRefrigerant Gas-Manufacturing (Refilling) and Sales | ÷.215.10 | ÷91.72 | $\mathbf{r}$ | |||
| Sale Of Service | 1,107.91 | 1.437.91 | 241.15 | 215.101.107.91 | 241.15 | |
| Unallocated | ÷. | 3,533.07 | 3,533,07 | |||
| Corporate | 8,983.56 | 10,700.25 | 777.08 | 8,983.56 | 777.09 | |
| Total-Segment Liabilities | 13,796.88 | 12,444.04 | 15,855.32 | 13,796.88 | 15,855.33 | |
Notes: -
1
The above Standalone audited financial results of the Company for the year ended 31st March 2020 have been reviewed by the Audit Committee and approved by the Board at their meeting held on 30th June 2020 . Audit under Regulation 33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015 has carried out by the Statutory Auditor With Unqualified Opinion.
- 2 The financial results of the company have been prepared in accordance with the Indian Accounting Standards (INDAS) as prescribed under sec 133 of the Companies Act 2013.
- 3 Effective 1st April, 2019, the Company adopted Ind AS 116, 'Leases' and applied the same to lease contracts existing on 1st April, 2019, with Right-of-Use asset recognised at an amount equal to the adjusted lease liability amounting to Rs.7.02 Crores.The effect of adoption of the standard is not material on the results.
- 4 Figures for the quarter ended 31March,2020 and the corresponding quarter ended in the previous year as reported in these financial results are the balancing figures between audited figures and respect of the full financial year and the published year to date figures upto the end of the third quarter of the relevant financial year. Also the figures upto the end of the third Quarter had only been reviewed and not subject to audit.
COVID-19 has caused significant disruptions to businesses across India. The management has considered the possible effects, if any, that may impact the carrying amounts of inventories, receivables and intangibles. In making the assumptions and estimates relating to the uncertainties as at the balance sheet date in relation to the recoverable amounts,
- 5 the management has considered subsequent events, internal and external information and evaluated economic conditions prevailing as at the date of approval of these financials results.The management expects no impairment to the carrying amounts of these assets. The management will continue to closely monitor any changes to future economic conditions and assess its impact on the operations.
- 6 The Company's business activities falls into the following segments:Coal & Ash Handling Business, Solar Power - Generation and Related
- Activities,Refrigerant Gases- Manufacturing (Refilling) and Sale of Service
- 7 Figures have been re-grouped/re-classified to make them comparable to the figures wherever necessary.
T.AnilJain
Place : Chennai Managing Director Date: 30th June 2020 (DIN:00181960)
COVID IMPACT ON REFRIGERANT BUSINESS:
It is pertinent to note that the best season for refrigerant gas business starts from February to May in any year. But due to the current pandemic situation and various stages of lockdown as announced by the Government to the whole of India, we were unable to execute the operations or generate sales as expected since we are not direct suppliers of automobiles and consumer appliances.
At the outset, the Company usually generates up to 17-18% of its Sales for the whole year during the month of April which is the first month in the Financial Year. This will have an impact for the Refrigerant business on the whole for the entire financial year. However, the sales for the month of May is slowly picking up in the given situation.
The Company had ordered material in advance with the suppliers for the summer season. We were able to manage then and now with the imported material.
We did not have any disruption in the refilling of gases at factory as we had local workers who stayed back in our factory and took care of the operations during the lockdown period.
Yes we had difficulties in the transportation service as some areas were in the containment zone, red alert areas which had affected the dispatches and there was some delay in deliveries which lead to disruption in the sales order during the lockdown period. However, now since there are some relaxations, the distribution of refrigerants is improving.
This lock down will definitely impact on Revenue and profit loss for the year 2020-21 as:
Stocks piled up as we were unable to sell on time.
Supplies made before lockdown, the Collections are struck and the ageing increased on the outstanding.
Employee's Annual review getting affected
COVID IMPACT ON ASH AND COAL BUSINESS :
During lockdown ash business was not affected since power generation falls under essential services and continued uninterruptedly. However, the coal business was affected since the shipment and transportation was highly restricted.
For Refex Industries Limited
Anil Jain Managing Director DIN: 00181960
| REFEX INDUSTRIES LIMITED | |||||
|---|---|---|---|---|---|
| Standalone Balance Sheet as at March 31, 2020 | (Rs. In Lakhs) | ||||
| Particulars | As atMarch 31, 2020 | As atMarch 31, 2019 | |||
| UnAudited | Audited | ||||
| ASSETS | |||||
| Non-current assets | |||||
| (a) Property, Plant and Equipment | 1,491.75 | 1,485.57 | |||
| (b) Right of use assets(c) Intangible | 701.99- | 2.21 | |||
| (d) Capital Work in Progress | - | 26.68 | |||
| (e) Non-current financial assets | |||||
| (i) Investments | 5.00 | 5.00 | |||
| (ii) Trade receivables | |||||
| (iii) Other non current financial assets | 59.54 | 61.03 | |||
| (f) Deferred Tax Assets | 183.57 | 905.43 | |||
| (g) Other Non current assets | 432.57 | 251.26 | |||
| Current assets | |||||
| (a) Inventories | 318.25 | 758.69 | |||
| (b) Financial Assets | |||||
| (i) Trade receivables | 7,227.27 | 8,749.67 | |||
| (ii) Cash and cash equivalents | 2,095.17 | 386.80 | |||
| (iv) Other current financial assets | 911.30 | 798.56 | |||
| (c) Current Tax Assets (Net) | - | 109.75 | |||
| (d) Other current assets | 370.47 | 2,314.67 | |||
| Total Assets | 13,796.88 | 15,855.32 | |||
| EQUITY AND LIABILITIES | |||||
| Equity | |||||
| (a) Equity Share Capital | 1,547.52 | 1,547.52 | |||
| (b) Other Equity | 6,038.01 | 2,729.96 | |||
| LIABILITIES | |||||
| Non-current liabilities | |||||
| (a) Financial Liabilities | |||||
| (i) Long term Borrowings | 171.90 | 17.92 | |||
| (ii) Lease Liability | 730.18 | - | |||
| (b) Deferred Tax Liabilities | - | - | |||
| (c) Long Term provisions | 726.46 | 15.65 | |||
| Current liabilities | |||||
| (a) Financial Liabilities | |||||
| (i) Short term Borrowings | |||||
| (ii) Trade payables | 4,120.23 | 10,117.89 | |||
| (iii) Other financial liabilities | 55.48 | 45.79 | |||
| (b) Other current liabilities | 407.10 | 1,380.60 | |||
| Total Equity and Liabilities | 13,796.88 | 15,855.32 | |||
| T.AnilJain | |||||
| Place: Chennai | Managing Director | ||||
| Date: 30th June 2020 | (DIN:00181960) |
| Standalone Statement of Cash Flow for the year ended 31st March 2020 | ||
|---|---|---|
| Particulars | For Year EndedMarch 31, 2020 | For Year EndedMarch 31, 2019 |
| UnAudited | Audited | |
| Cash flows from operating activitiesProfit Before Taxes | 4,802.66 | 2,886.97 |
| Adjustments: | - | |
| Interest Income | -479.09 | -185.38 |
| Loss/ (Profit) on sale of fixed assets | -19.27 | 0.14 |
| Bad Debts | 2,657.93 | - |
| Interest expense | 90.57 | 29.67 |
| Remeasurement of Defined benefit Plan under OCI | - | -0.07 |
| Provisions For ECL | 129.11 | |
| Provisions For Contingent liability | 581.46 | |
| Foreign Gain or loss Difference | -21.67 | |
| Difference due to Ind As 116 leases | -28.19 | |
| Depreciation and amortization | 139.32 | 96.23 |
| Operating cash flow before working capital changes | 7,852.82 | 2,827.56 |
| Changes in | - | |
| Decrease/(Increase) In Trade Receivables | -1,264.63 | -5,098.30 |
| Decrease/(Increase) In Other current Financial Asset(s) | -112.74 | 2,738.64 |
| Decrease/(Increase) In Other current Asset(s) | 1,944.20 | -2,287.47 |
| Decrease/(Increase) In Other non-current financial assets | 1.49 | 44.45 |
| Decrease/(Increase) In Inventories | 440.44 | -236.09 |
| Decrease/(Increase) In Other non-current assets | -181.31 | 51.95 |
| (Decrease)/Increase In Long term Provisions | 710.81 | -15.62 |
| (Decrease)/Increase In non-current liabilities | - | - |
| (Decrease)/Increase In Trade Payables current | -5,997.66 | 5,977.38 |
| (Decrease)/Increase In other current liabilities | -973.49 | 1,078.79 |
| (Decrease)/Increase in Non Current Investments | - | - |
| (Decrease)/Increase In Other financial liabilities | 9.69 | -5.44 |
| Income taxes paid | -1,241.03 | -657.51 |
| Cash generated from / (used in) operations | 1,188.58 | 4,418.33- |
| Cash flows from investing activities | - | |
| Purchase of fixed assets | -22.71 | -180.00 |
| Proceeds from sale of fixed assets | - | 0.05 |
| Interest received | 479.09 | 185.38 |
| Net cash generated from/(used in) investing activities [B] | 456.38 | 5.42 |
| - | ||
| Cash flows from financing activities | - | |
| Proceeds from / (repayment of) long term and short term borrowings | 153.97 | -4,076.64 |
| Dividend paid (including dividend distribution tax) | - | |
| Interest paid | -90.57 | -29.67 |
| Net cash used in financing activities | 63.41 | -4,106.31 |
| - | ||
| Increase in cash and cash equivalents | 1,708.36 | 317.44 |
| Cash and cash equivalents at the beginning of the year | 386.80 | 69.36 |
| Cash and cash equivalents at the end of the year | 2,095.17 | 386.80 |
| - | ||
| - | ||
| Components of cash and cash equivalents (refer note 21) | - | |
| Cash on hand | 9.96 | 12.85 |
| Balances with banks | 2,085.21 | 373.95 |
| Total cash and cash equivalents | 2,095.17 | 386.80 |
Date: 30th June 2020 (DIN:00181960)
T.AnilJain Place: Chennai Managing Director
REFEX INDUSTRIES LIMITED
No.11th Floor , Bascon Futura IT Park New.No:10/2, Old No: 56 L, Venkat Narayan Road, T.Nagar, Chennai-600 017.
CIN No.L45200TN2002PLC049601 REFEX INDUSTRIES LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR
ENDED 31ST MARCH 2020
| Rs. In Lakhs | ||||||
|---|---|---|---|---|---|---|
| Part-I | Consolidated | |||||
| Quarter Ended | Year Ended | |||||
| S. No. | Particulars | March 31,2020 | Dec 31,2019 | March 31,2019 | March 31,2020 | March 31,2019 |
| Audited | (Unaudited) | Audited | ||||
| 1 | Income | |||||
| Revenue From Operations | 12,388.91 | 23,684.41 | 20,719.27 | 66,074.43 | 46,105.11 | |
| 2 | Other Income | 206.67 | 1.43 | 42.75 | 479.09 | 185.38 |
| Total - Net Income from Operations | 12,595.58 | 23,685.84 | 20,762.02 | 66,553.52 | 46,290.48 | |
| 3 | Expenses | |||||
| Cost of Materials Consumed | 8,707.97 | 14,999.16 | 1,835.55 | 43,010.87 | 16,976.38 | |
| Purchase of Traded goods | - | - | 5876.68 | - | 7,090.59 | |
| Purchase of stock in trade | 2,599.55 | 3,210.38 | 11909.53 | 12,293.90 | 16,480.40 | |
| Changes in inventories of finished goods, work-in-progress and | (6.16) | 354.11 | -1121.85 | 440.44 | (236.09) | |
| stock-in-trade | ||||||
| Employee Benefits Expense | 75.70 | 83.18 | 45.95 | 312.95 | 243.94 | |
| Depreciation and Amortisation Expense | 68.2785.40 | 26.18 | 25.17 | 139.3290.57 | 96.23 | |
| Finance CostsOther expenses | 573.22 | 1.782,606.95 | 9.75699.35 | 4,881.99 | 29.672,722.87 | |
| 12,103.95 | 21,281.73 | 19280.12 | 61170.05 | 43,403.98 | ||
| Total expenses | ||||||
| 4 | Profit / (Loss) from ordinary activities before Tax | 491.63 | -2,404.11 | 1,481.90 | 5,383.48 | 2,886.50 |
| 5 | Profit/(Loss) before exceptional items and extraordinary items | 491.63 | 2,404.11 | 1,481.90 | 5,383.48 | 2,886.50 |
| and Tax | ||||||
| 6 | Exceptional items | (581.46) | - | - | (581.46) | - |
| 7 | Profit/(Loss) before Tax | (89.83) | 2,404.11 | 1,481.90 | 4,802.02 | 2,886.50 |
| 8 | Tax Expenses | |||||
| Current tax expense for current year | (87.19) | 420.09 | - | 767.56 | 646.44 | |
| (Less): MAT credit (where applicable) | 742.57 | - | - | 646.44 | (646.44) | |
| Current tax expense relating to prior years | - | - | - | - | ||
| Net current tax expense | - | - | - | - | - | |
| Deferred tax (Asset) | (366.21) | 258.62 | (276.44) | 75.42 | (276.44) | |
| Total Tax Expense | 289.17 | 678.71 | (276.44) | 1,489.41 | (276.44) | |
| Net Profit /Loss for the Period/Year | (379.00) | 1,725.40 | 1,758.33 | 3,312.61 | 3,162.94 | |
| 9 | Profit/(Loss) for the period from continuing operations | (379.00) | 1,725.40 | 1,758.33 | 3,312.61 | 3,162.94 |
| 10 | Profit/(Loss) from discontinuing operations | - | - | - | - | |
| 11 | Tax expenses of discontinuing operations | - | - | - | - | |
| 12 | Profit/(Loss) from Discontinuing operations | - | - | - | - | |
| 13 | Other Comprehensive Income, net of income tax | - | - | |||
| a Items that will not be reclassified to Profit or loss account | ||||||
| Remeasurements of defined benefit plan actuarial gains/ (losses) | (5.19) | - | (0.07) | (5.19) | (0.07) | |
| 14 | Profit/(Loss) for the period/year | (384.19) | 1,725.40 | 1,758.26 | 3,307.41 | 3,162.87 |
| 15 | Paid-up Equity Capital (face value of share - Rs 10/- each) | 1,547.52 | 1,547.52 | 1,547.52 | 1,547.52 | 1,547.52 |
| 16 | Reserves excluding revaluation reserves | NA | NA | NA | 6,038.01 | 2,729.96 |
| 17 | Basic and Diluted Earning per share(before extraordinary items) | |||||
| 18 | Basic and Diluted Earning per share | (2.48) | 11.15 | 11.36 | 21.37 | 20.44 |
| (after extraordinary items) | (2.48) | 11.15 | 11.36 | 21.37 | 20.44 | |
| Part-II Segment wise Revenue, Results and Capital Employed Under Regulation 33 (3) (f) of SEBI (LODR), Regulations 2015 | Consolidated | (Rs. In Lakhs) | ||||
|---|---|---|---|---|---|---|
| Quarter Ended | Year Ended | |||||
| S. No. Particulars | March 31,2020 | Dec 31,2019 | March 31,2019 | March 31,2020 | March 31,2019 | |
| Audited | (Unaudited) | (Audited) | ||||
| 1 Segment Revenue ( Net Sales/Income) | ||||||
| Coal & Ash Handling BusinessSolar Power - Generation and Related Activities | 11,411.22318.48 | 22,142.00288.93 | 12,450.386,545.65 | 58,905.591,485.27 | 33,520.177,470.81 | |
| Refrigerant Gas- Manufacturing(Refilling) and Sales | 442.05 | 382.66 | 453.06 | 2,010.81 | 1,325.57 | |
| Sale Of Service | 217.16 | 870.82 | 1,270.18 | 3,672.77 | 3,206.51 | |
| Minerals Trading | - | - | - | - | 582.06 | |
| Total | 12,388.91 | 23,684.41 | 20,719.27 | 66,074.43 | 46,105.11 | |
| 2 Segment Results | ||||||
| (Profit /Loss before Interest and Tax) | ||||||
| Coal & Ash Handling Business | 566.08 | 1,724.50 | 250.31 | 4,013.31 | 1,710.76 | |
| Solar Power - Generation and Related Activities | (8.89) | (99.58) | 29.33 | (212.53) | 12.06 | |
| Refrigerant Gas- Manufacturing(Refilling) and Sales | (55.70) | (12.56) | 288.14 | (141.00) | 31.611,070.92 | |
| Sale Of ServiceMinerals Trading | 47.54- | 867.92- | 988.8119.13 | 1,825.93- | 30.32 | |
| Corporate | (835.83) | (75.93) | 144.78 | (1,135.70) | 146.72 | |
| Total | (286.80) | 2,404.35 | 1,720.50 | 4,350.01 | 3,002.40 | |
| Less: | Finance Cost | (9.93) | 1.66 | 4.90 | 7.45 | 24.83 |
| Add: | Other Income | 187.05 | 1.43 | 42.75 | 459.46 | 185.38 |
| Profit /Loss before Tax | (89.83) | 2,404.11 | 1,758.34 | 4,802.02 | 3,162.95 | |
| 3 Segment Assets | ||||||
| Coal & Ash Handling Business | 1,378.89 | 3,046.18 | 11,222.18 | 1,378.89 | 11,222.18 | |
| Solar Power - Generation and Related ActivitiesMinerals Trading | 833.17- | 101.69- | 928.37- | 833.17- | 928.37- | |
| Refrigerant Gas- Manufacturing(Refilling) and Sales | 2,836.26 | 2,841.85 | 2,106.68 | 2,836.26 | 2,106.68 | |
| Sale Of Service | - | - | - | - | - | |
| Unallocated | - | - | - | |||
| Corporate | 8,744.21 | 6,454.32 | 1,598.08 | 8,744.21 | 1,593.68 | |
| Total- Segment Assets | 13,792.52 | 12,444.04 | 15,855.32 | 13,792.52 | 15,850.92 | |
| 4 Segment Liabilities | ||||||
| Coal & Ash Handling Business | 2,495.59 | - | 11,150.03 | 2,495.59 | 11,150.03 | |
| Solar Power - Generation and Related Activities | 994.71 | 214.16 | 153.98 | 994.71 | 153.98 | |
| Minerals Trading | - | - | - | - | - | |
| Refrigerant Gas- Manufacturing(Refilling) and Sales | 215.10 | 91.72 | 241.15 | 215.10 | 241.15 | |
| Sale Of ServiceUnallocated | 1,107.91- | 1,437.91- | -3,533.07 | 1,107.91 | -3,533.07 | |
| Corporate | 8,979.20 | 10,700.25 | 777.08 | 8,979.20 | 772.68 | |
| - | ||||||
| Total-Segment Liabilities | 13,792.52 | 12,444.04 | 15,855.32 | 13,792.52 | 15,850.92 | |
| - | ||||||
| Notes:1 | The above Standalone audited financial results of the Company for the year ended 31st March 2020 have been reviewed by the Audit Committee and approvedby the Board at their meeting held on 30th June 2020 . Audit under Regulation 33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations,2015 has carried out by the Statutory Auditor With Unqualified Opinion. | - | ||||
| 2 | Companies Act 2013. | |||||
| 346 | The financial results of the company have been prepared in accordance with the Indian Accounting Standards (INDAS) as prescribed under sec 133 of theEffective 1st April, 2019, the Company adopted Ind AS 116, 'Leases' and applied the same to lease contracts existing on 1st April, 2019, with Right-of-Use assetrecognised at an amount equal to the adjusted lease liability amounting to Rs.7.02 Crores.The effect of adoption of the standard is not material on the results.Figures for the quarter ended 31March,2020 and the corresponding quarter ended in the previous year as reported in these financial results are the balancingfigures between audited figures and respect of the full financial year and the published year to date figures upto the end of the third quarter of the relevantfinancial year. Also the figures upto the end of the third Quarter had only been reviewed and not subject to audit.COVID-19 has caused significant disruptions to businesses across India. The management has considered the possible effects, if any, that may impact thecarrying amounts of inventories, receivables and intangibles. In making the assumptions and estimates relating to the uncertainties as at the balance sheet date inrelation to the recoverable amounts, the management has considered subsequent events, internal and external information and evaluated economic conditions5prevailing as at the date of approval of these financials results.The management expects no impairment to the carrying amounts of these assets. The managementwill continue to closely monitor any changes to future economic conditions and assess its impact on the operations. |
- The Company's business activities falls into the following segments:Coal & Ash Handling Business, Solar Power Generation and Related Activities,Refrigerant Gases- Manufacturing (Refilling) and Sale of Service
- 7 The Consolidated financial results of the company for the year ended March 31st 2020 have been prepared in accordance with the applicable accounting standards and based on the audited accounts of the subsidiary to verify
ANIL JAIN
Managing Director DIN:00181960
8 Figures have been re-grouped/re-classified to make them comparable to the figures wherever necessary.
Place: Chennai
Date: 30th June 2020
| REFEX INDUSTRIES LIMITED | |||||
|---|---|---|---|---|---|
| Consolidated Balance Sheet as at March 31, 2020 | |||||
| (Rs. In Lakhs) | |||||
| Particulars | NoteNo | As atMarch 31, 2020 | As atMarch 31, 2019 | ||
| UnAudited | Audited | ||||
| ASSETS | |||||
| Non-current assets | |||||
| (a) Property, Plant and Equipment | 1 | 1,491.75 | 1,485.57 | ||
| (b) Right of use assets | 2 | 701.99 | |||
| (c) Intangible | - | 2.21 | |||
| (d) Capital Work in Progress | - | 26.68 | |||
| (e) Non-current financial assets | |||||
| (i) Investments | 1 | - | - | ||
| (ii) Trade receivables | |||||
| (iii) Other non current financial assets | 23 | 59.54183.57 | 61.03 | ||
| (f) Deferred Tax Assets | 4 | 432.57 | 905.43 | ||
| (g) Other Non current assets | 251.26 | ||||
| Current assets | |||||
| (a) Inventories | 5 | 318.25 | 758.69 | ||
| (b) Financial Assets | |||||
| (i) Trade receivables | 6 | 7,227.27 | 8,749.67 | ||
| (ii) Cash and cash equivalents | 7 | 2,095.17 | 387.40 | ||
| (iv) Other current financial assets | 8 | 911.94 | 798.56 | ||
| (c) Current Tax Assets (Net) | 9 | - | 109.75 | ||
| (d) Other current assets | 10 | 370.47 | 2,314.67 | ||
| Total Assets | 13,792.52 | 15,850.92 | |||
| EQUITY AND LIABILITIESEquity(a) Equity Share Capital | 11 | 1,547.52 | 1,547.52 | ||
| (b) Other Equity | 12 | 6,033.01 | 2,725.37 | ||
| LIABILITIESNon-current liabilities(a) Financial Liabilities | |||||
| (i) Long term Borrowings | 13 | 171.90 | 17.92 | ||
| (ii) Lease Liability | 730.18 | - | |||
| (b) Deferred Tax Liabilities | - | - | |||
| (c) Long Term provisions | 14 | 726.46 | 15.65 | ||
| Current liabilities | |||||
| (a) Financial Liabilities | |||||
| (i) Short term Borrowings | - | - | |||
| (ii) Trade payables | 15 | 4,120.23 | 10,118.07 | ||
| (iii) Other financial liabilities | 16 | 55.48 | 45.79 | ||
| (b) Other current liabilities | 17 | 407.74 | 1,380.60 | ||
| Total Equity and Liabilities | 13,792.52 | 15,850.92 | |||
| Place: ChennaiDate: 30th June 2020 | T.AnilJainManaging Director(DIN:00181960) |
| REFEX INDUSTRIES LIMITED | |||||
|---|---|---|---|---|---|
| Consolidated Statement of Cash Flow for the year ended 31st March 2020 | |||||
| Particulars | For Year EndedMarch 31, 2020 | For Year EndedMarch 31, 2019 | |||
| UnAudited | Audited | ||||
| Cash flows from operating activities | |||||
| Profit Before Taxes | 4,802.02 | 2,886.51 | |||
| Adjustments: | |||||
| Interest Income | -479.09 | -185.38 | |||
| Loss/ (Profit) on sale of fixed assets | -19.272,657.93 | 0.14 | |||
| Bad Debts | 90.57 | - | |||
| Interest expenseRemeasurement of Defined benefit Plan under OCI | - | 29.67-0.07 | |||
| Provisions For ECL | 129.11 | ||||
| Provisions For Contingent liability | 581.46 | ||||
| Foreign Gain or loss Difference | -21.67 | ||||
| Difference due to Ind As 116 leases | -28.19 | ||||
| Depreciation and amortization | 139.32 | 96.23 | |||
| Operating cash flow before working capital changes | 7,852.18 | 2,827.11 | |||
| Changes in | - | ||||
| Decrease/(Increase) In Trade Receivables | -1,264.63 | -5,098.30 | |||
| Decrease/(Increase) In Other current Financial Asset(s) | -112.74 | 2,739.36 | |||
| Decrease/(Increase) In Other current Asset(s) | 1,944.20 | -2,287.47 | |||
| Decrease/(Increase) In Other non-current financial assets | 1.49 | 44.45 | |||
| Decrease/(Increase) In Inventories | 440.44 | -236.09 | |||
| Decrease/(Increase) In Other non-current assets | -181.31 | 51.95 | |||
| (Decrease)/Increase In Long term Provisions | 710.81 | -15.62 | |||
| (Decrease)/Increase In non-current liabilities | - | - | |||
| (Decrease)/Increase In Trade Payables current | -5,997.66 | 5,977.38 | |||
| (Decrease)/Increase In other current liabilities | -973.49 | 1,078.79 | |||
| (Decrease)/Increase in Non Current Investments | - | - | |||
| (Decrease)/Increase In Other financial liabilities | 9.69 | -5.44 | |||
| Income taxes paid | -1,240.99 | -657.51 | |||
| Cash generated from / (used in) operations | 1,187.98 | 4,418.33 | |||
| - | |||||
| Cash flows from investing activities | - | ||||
| Purchase of fixed assets | -22.71 | -180.00 | |||
| Proceeds from sale of fixed assets | - | 0.05 | |||
| Interest received | 479.09 | 185.38 | |||
| Net cash generated from/(used in) investing activities [B] | 456.38 | 5.42 | |||
| - | |||||
| Cash flows from financing activities | - | ||||
| Proceeds from / (repayment of) long term and short term borrowings | 153.97 | -4,076.64 | |||
| Dividend paid (including dividend distribution tax) | - | ||||
| Interest paid | -90.5763.41 | -29.67 | |||
| Net cash used in financing activities | -4,106.31 | ||||
| - | |||||
| Increase in cash and cash equivalents | 1,707.76387.40 | 317.75 | |||
| Cash and cash equivalents at the beginning of the yearCash and cash equivalents at the end of the year | 2,095.16 | 69.65387.40 | |||
| - | |||||
| - | |||||
| Components of cash and cash equivalents (refer note 21) | - | ||||
| Cash on hand | 9.96 | 12.95 | |||
| Balances with banks | 2,085.21 | 374.45 | |||
| Total cash and cash equivalents | 2,095.17 | 387.40 | |||
| T.AnilJainManaging DirectorPlace: Chennai | |||||
| Date: 30th June 2020 | (DIN:00181960) |