Remsons Industries Ltd. — Annual Report 2019

May 29, 2019

29thMay,2019

To, The Manager - Corporate Service Dept. BSE Limited Jeejeebhoy Towers Dalal Street, Mumbai - 400 001 Scrip code: 530919

nEtTrsoils Industries Ltd.

PO.Bag No. 7685 Mumbai - 400067. Tel : 26122368,26113883 26114452 Email : remsons@vsnl com Web : www.remsons.com CIN : L51900MH1971PLC015141

The Manager - The Listing Departmenf -NafffiAfstock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400051. Scrip code: REMSONSIND

Dear Sir,

Sub.: Outcome of Board Meeting held today i.e.29thMay,2019,

Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. Wedne sday,29th May,2019; inter-nlia considered the following rnatters:

• 1,. Approved the Audited Financial Results of the Company for the quarter and year ended 31't March, 2019 in terms of the provisions of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015;
• 1. Recommended payment of dividend of Rs. 1,.50/- per Equity Share of Rs. 10/- each (15%) for the financial year ended 31't March,2019, subject to approval of the shareholders in the ensuing Annual General Meeting of the Company. The dividend if approved at the ensuing Arurual General Meeting of the Company, shall be paid/ dispatched to the eligible shareholders after the AGM within the time limit as prescribed under the Companies Ac! 2013 and other applicable laws;
• 1. Re-appointed M/s Kanu Doshi Associates LLP, Chartered Accountants as Internal Auditors of the Company for the year 2079-20 pursuant to Section 138 of the Companies Act, 2013 and Rules made thereunder; and
• 1. Re-appointed M/s. M Baldeva Associates, Practicing Company Secretaries, as Secretarial Auditors of the Company for conducting the secretarial audit for the financial year 2019-20 under Section 204(1) of the Companies Act, 2013.

Regd. Office: 401 Gladdiola, Hanuman Road, Vile Parle (East), Mumbai - 400 057.

nEtrsotvs Industries Ltd.

PO.Bag No. 7685 Mumbai - 400067. Tel : 26122368,26113883 26114452 Email : remsons@vsnl.com Web : www.remsons com CIN : L51900MH1971PLC015141

We are enclosing herewith the followings:

• a. Audited Financial Results for the quarter and year ended 31't March, 2019,
• b. Statement of Assets and Liabilities as on 31't March,2019,
• C. Auditors Report on the Audited Financial Results for the quarter and year ended 31't March, 2019, and
• d. Declaration for Unmodified Opinion on Audit Report pursuant to Regulation 33(3Xd) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The meeting of the Board of Directors commenced at 4.00 p.m. and concluded at 6.00 p.m.

Kindly take the above in your record.

Yours faithfully,

FoT REMSONS INDUSTRIES LIMITED

ROHIT DARII COMPANY SECRETARY & COMPLIANCE OFFICER

Encl.:A/a

Regd. Office: 401 Gladdiola, Hanuman Road, Vile Parle (East), Mumbai - 400 057.

,rfr'Yf,or{lrr.

CIN : 151900MH1971P1C015141

Regd.Office:401,4th Floor, Gladdiola, Hanuman Road Vilr Parle (East), Mumbai 400057.

Tel No: 022- 261138a3; 26L72236a Email id: remsons@vsnl.com, website: www,remsons.com

	Statement of Audited Financial Results for the Quarter and Year Ended 31st March,2079
						(Rs in Lakh) Except EPf
		Quarter EndedYear Ended
Sr.No.	Particulars	31st March 2019(Audited - Refernote no. 7)	31st Dec,2018(Unaudited)	31st March 2018(Audited - Refernote no. 7)	31st March 2019(Audited)	31st March2018 (Audited)
I	Income
	(a) Revenue [rom Operations	3,698.96	3,81 4.50	3,604.16	14,937.16	13,077 69
	@) Other Income	29.'t8	(12.02	90.87	75.16	157 76
	Total Income From Operations	3-728.14	3,802.48	3,69s.03	15,012.92	13,235.45
I]	Expenses
	(a) Cost of Materials Consumed		2,499.63	2,115 25	9,4't4.80	7,963.27
	Q) Purchase oF stock in trade
	(c) Changes in inventories of finished goods, rvork-inprogress and stock-in-trade	Q243)	(t21 53)	59.03	(116 44)	(1 s6.68)
	(d) Excise duty on sale ofgoods					264 64
	(e) Employees Benefit Expenses	730.86	10't 26	600 46	2,696 78	2,388.84
	(Q Finance Costs	54.43	36.24	51 94	2't8.30	254.70
	(g) Depreciation and r\mortisation Expenses	73.83	58.66	61.69	248.55	251 62
	(h) Other Expenditure	480.62	52203	5"t3."r5	2,060.45	1.813 98
	Total expenses	3,652.6(	3.696.21	3.407.5t	14,522.44	72.780.3',.
III	Profit before exceptional items and tax	t5 4i	106.t:	287.57	490 4r	+J3 0{
ru	Exceptional items
	Profit/ (Loss) before tax ( III-N)	75.48	106.1t	287.57	490.41	4s5.0{
VI	Tax Expense
	(a) Current tax	22.92	21.60	57 22	t55.52	90.22
	(b) Deferred tax	1.65	2.62	Q2.28,	(9.21'	20.28
	Total tax expenses	24.5',	30.2"	34.9'	146.3	110.5(
VII	Net Profit/ (Loss) for the period ( V-VI)	50.9"	75.9t	z5z-5	344.1"	344.5t
VIII	Other Comprehensive Income
	(a) i. Items that rvill not be reclassiFred to profit or loss	(4200)	(0 e6)	134	(48.61)	(6 60)
	ii. Income tax relating to items that rvill not bereclassiFred to profit or loss	11.69	0.21	(1.s1	"t2 49	1.07
	(b) i. irem rhrt rvil be rechssified Lo profit or loss
	ii lncome tax relating to items that will bereclassified to profit or loss
	Total other Comprehensive Income (Net ofTaxes)	(30.31)	(0.6e)	(0.17.	(36.72)	(5.s3)
	Total Comprehensive Income for the period	20.60	75.29	252.40	308.05	339 05
X	Paid-up equiry share capital face Value of 7 10/-each)	5 I L.J+	577.34	577.34	571.34	577.34
XI	Other Equity excluding Revaluation Reserye				1,602 66	t,384.16
XII	Eamings per equity share
	(i) Basic Earnings per shre (Rs)	0.89	133	442	602	603
	(ii) Diluted Earnings per share fLs )	0.89	1.33	442	6.02	603

31st March 201931st March 2018PARTICULARS(Audited)(Audited)AASSETS$\mathbf{r}$Non-Current AssetsProperty, Plant and Equipment2,151.062,174.68Capital Work in Progress13.815.186.817.00Investment propertyOther Intangible Assets148.6210.46Intangible assets under development42.00Financial Assets(i) Investments10.354.67(ii) Others financial assets63.7744.0324.85
Other non current Assets35.92
2,413.592,329.62Sub Total - Non- Current Assets
пCurrent Assets
Inventories2,687.112,257.08
Financial Assets
2,587.061,989.89
(i) Trade Receivable
100.48(ii) Cash and Cash equivalents43.48
(iii) other financial assets17.4476.06
Current Tax Assets3.12
Other current assets268.93216.62
5,607.144,640.13Sub Total - Current Assets
TOTAL ASSETS6,969.758,020.73
BEQUITY AND LIABILITIES
T.Equity
571.34571.34
Equity Share Capital
Other Equity1,602.661,384.16Sub Total - Shareholder's fund2,174.001,955.50
LIABILITIESп
Non Current Liabilities
Financial Liabilities
823.86787.18(i) Borrowing
Provisions25.5622.16
61.4519.91Deffered Tax Liabilities (net)
Sub Total - Non- Curret Liabilities874.19865.93
Current Liabilities
Financial Liabilities
1,989.30(i)Borrowings1,846.15
(ii) Trade payables2,809.241,822.19
(iii) Other Financial Liabilities99.6792.17
Other Current Liabilities129.43157.78
Provisions85.2640.86
Current tax liabilities2.7846.02
Sub Total - Non- Curret Liabilities4,972.534,148.32
TOTAL EQUITY AND LIABILITIES8.020.736,969.75

Notes:

1 The Company operates in single segment only, i.e. Automotive Components parts.

2 The above results have been revierved and recomended by the Audit Committee and approved by the Boud of Directors in tbeir meetings held on Z9rhMay, 2019 as per Regulatioo 33 of SEBI (I-isting Obligations and Disclosure Requirements) Regularions, 2015.

3 TheBoardofDirectorsattheirmeetingheldon29thMay,2019proposedFrnaldividendofRsl.50pershre ie15%onEquiryShareofRs 10/-each,subjec the approval of the members at the ensuring Annual General meeting

4 These hnancial results hare been prepared in accordance rvitb the recognition and measurement principles under Ind AS as prescribed under Section 133 ofthe ies Act, 2013 read rvith the relevant rules issued thereunder and the other accounting principles generally accepted in India

5.IndASll5"RevenuefromContractswitbCustomers"mandatoryforreportingperiodsbeginningonorafterlstApril,20l8 replacesexistingrevenue recognition requirements. Tbe Company has elected the option ofthe modi|red retrospective approach and there were no material adjustments required to be made in tbe retained earnings as at 1st April, 2018. AIso, the application oIInd AS 115 did not have any material impact on recognition and measurement ofrevenue and relateditemsinthe.t\uditedFinancialResultsforthequarter/yearended 3lstMarch,20l9oftheCompany

1. Consequent to introduction ofGoods and Senices Tax (GST) rvith effect fromJuly 01,2017,CentralExcise have been subsumed into GST. In accordance rvith Indian Accouo ting Standard, as applicable and Scbedule lll of the Companies Act, 2013, unlike Excise Duties, GST re not part of Revenue Accordingly, the hgures for the yer ended 31, 201,9 and for the yer ended Mrch 37, 2078 are not comparable

2. The Frgures oflast quarter are the balancing hgures benveen audited figures in respect of the full hnancial year and the published ye2r to date figures upto tbe third guarter of the hnancial year

3. Figures for the corresonding periods in the previous year's,/ periods' have been regrouped/ rcatatged/reclassiFred wherever necessary to make thed comparable with the Frgures for the current period.

FOT REMSONS INDUSTRIES LI

Place: Mumbai CHAIRMAN & MANAGING DIRECTOR Dated: 29ti 2019 DIN - 00513788 KRISHNA KEJRIVAI

M L BHUWANIAAND CO LLP CHARTERED ACCOUNTANTS

F-l1, 3rd floor, Manek Mahal, 90, Veer Nariman Road, Churchgate, Mumbai - 400 020,INDIA. T:+91 226117 4949 F:+91 226117 4950 E:info@mlbca.in W:wwwmlbca.in

Auditor's Report on yeady Financial Results of neN4soNS INDUSTRIES LIMITED Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosute Requirements) Regulations, 20L5

To,

The Board of Directors of REMSONS INDUSTRIES LIMITED

• We have audited the accompanying financial results of ngusoNs INDUSTRIES LIMITED ("Company") for theyear ended Match 31.,201.9 ("the Statement") attached herewith, being submitted by the Company pursuant to the tequirement of Regulation 33of the SEBI Q-rsting Obligations and Disclosute Requitements) Regulations, 20L5. 1,.
• The financial results for the quarter ended 31't March,2019 and fot the cottesponding quarter ended 31.t March,201,8 are the derived figures between the audited figures in respect of the year ended 31.t March,2019 and 3L" Match, 2018 and the published yeat to date figures up to the period 31*December,201.8 and figures up to 3LstDecembet, 201.7, being the date of the end of the thitd quarter of the tespective frnancial year, which were subject to limited teview. Z.
• The annual financial results have been prepared on the basis of annual audited financral statements and quartetly financial tesults upto the end of the third quarter, which are the responsibility of the Company's Management. Out tesponsibility is to express an opinion on these ftnar..ctal results based on our audit of these financial statements, which have been prepared tn accordance with the tecognition and measurement principles laid down in Indian Accounting Standard ('Ind AS'), prescribed, undet Section 1,33 of the Companies Act, 2013 rcad with televant rules issued thete undet; as applicable and other accounting principles genetally accepted in India and in compliance with Regulation 33 of the Listing Regulations. a')

ML BHUWANIA AND COLLP CHARTERED ACCOUNTANTS

• 1. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we comply with ethical requirements and 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. We believe that our audit provides a reasonable basis for our opinion.
• 1. In our opinion and to the best of our information and according to the explanations given to us, these annual financial results:
  • are presented in accordance with the requirements of Regulation 33 of the SEBI i. (Listing Obligations and Disclosure Requirements) Regulations, 2015; and
  • give a true and fair view of the net profit (financial performance including other ii. comprehensive income) and other financial information for the year ended 31st March, 2019.

For ML BHUWANIA AND CO LLP Chartered Accountants FRN: 101484W/W100197

Vijay Kumar Jain Partner Membership No. 108374

Place: Mumbai Date: 29th May 2019

F-11, 3rd Floor, Manek Mahal, 90, Veer Nariman Road, Churchgate, Mumbai - 400 020, India.

P.O Bag No 7685 Mumbai - 400067. Tel : 26122368,26113883 26114452 Email : remsons@vsnl com Web : www.remsons.com CIN : L51900MH1971PLC015141

29thMay,2019

To,

The Manager - Corporate Service Dept. BSE Limited Jeejeebhoy Towers Dalal Street, Mumbai - 400 001 Scrip code: 530919

The Manager - The Listing Department Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400051. Scrif code:REMSONSIND

Dear Sir,

Sub: Declaration Pursuant to Regulation 33(3Xd) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 20L5, for Unmodified Opinion.

We hereby declare that the Statutory Auditors of the Company, M/s. M L Bhuwania & Co. LLP, Chartered Accountants (Firm Registration No. 101,484W/W-10019n, have issued audit report with unmodified opinion on the Audited Financial Results of the Company for the financial year ended 31't March,2019.

This declaration is given in compliance with Regulation 33(3Xd) of SEBI(Listing Obligations & Disclosure Requirements) Regulations, 2015.

Kindly take the above in your record.

Yours faithfully, FoT REMSONS INDUSTRIES LIMITED

Chairman & Managing Director (DIN:005L3788) Krishna Kejriwal

Anil Kumar Agrawal Whole Time Director & CFO (DIN:00513805)

Regd. Office: 401 Gladdiola, Hanuman Road, Vile Parle (East), Mumbai - 400 057.