Rollatainters Ltd. — Earnings Release 2023

May 29, 2023

Ref.No.: RTL/BSE/NSE/2023-24 Date: 29th May 2023

To,
The Secretary	The Secretary
BSE Limited	NationalStockExchangeLimited,Exchange
Phiroze Jeejeebhoy, Towers Limited	Plaza
Dalal Street, Mumbai -400001	Bandra Kurla Complex, Bandra(E)
	Mumbai -400 051
Scrip Code: 502448	Symbol: ROLLT

Subject: Outcome of the Board Meeting held today i.e Monday, May 29,2023

Dear Sir/Ma'am,

Pursuant to the provision of Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company in its meeting held today i.e**. Monday, 29th May,2023,** has inter-alia considered and approved the following matters:

• 1. Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Year ended on March 31, 2023. (Copy Enclosed).
• 1. Audit Report on the aforesaid Financial Results (Standalone and Consolidated) of the Company for the Quarter and Year ended March 31, 2023, issued by the Statutory Auditors of the Company i.e. M/s Chatterjee & Chatterjee, Chartered Accountants. (Copy Enclosed).
• 1. A declaration to the affect that the Auditors had given an unmodified opinion on Financial Results (Standalone and Consolidated) of the Company for the Quarter and year ended March 31,2023. (Copy enclosed).
• 1. Appointment of M/s S. Khurana & Associates, Practising Company Secretary, as the Secretarial Auditor of the Company for the Financial Year 2022-23.
• 1. Appointment of M/s VBRG & Associates (FRN:022879C) as Internal Auditor of the Company for the Financial Year 2023-24.
• 1. Appointment of Mr. Sri Kant (DIN:06951400) as an Additional Non- Executive Independent Director of the Company with effect from May 26,2023.
• 1. Reconstitution of Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee & Corporate Social Responsibility Committee.
• 1. Related Party Transactions for the half year ended on March 31,2023.

The Board Meeting was commenced at 03:35 P.M. and concluded at 05:15 PM.

This is for your information and records.

Thanking You,

Yours faithfully,

For Rollatainers Limited ADITI JAIN Digitally signed by ADITI JAIN Date: 2023.05.29 17:38:17 +05'30'

(Aditi Jain) Company Secretary and Compliance Officer

Encl: As Stated Above

	ROLLATAINERS LIMITED
	Statement of Standalone and Consolidated Audited Financial Results for the quarter and year ended 31st March, 2023
									Rupees In "Lakhs"
				Standalone					Consolidated
S.No.	Particulars		Quarter Ended			Year Ended		Quarter Ended			Year Ended
		31.03.2023			31.12.2022 31.03.2022 31.03.2023 31.03.2022		31.03.2023 31.12.2022		31.03.2022		31.03.2023 31.03.2022
		Audited	Unaudited	Audited	Audited	Audited	Audited	Unaudited	Audited	Audited	Audited
1	IncomeRevenue from operations	10.00	10.00	13.01	40.00	56.86	46.05	29.40	77.94	114.25	624.31
	Other income	74.63	10.46	0.00	95.49	0.19	76.24	10.46	20.92	99.10	64.74
	Total income	84.63	20.46	13.02	135.49	57.05	122.29	39.86	98.86	213.35	689.05
2	Expenses
	Cost of material consumed	-		-			-	-	94.55	-	552.98
	Purchase of trade goods	-	-	2.73	-	15.68	-	-
	Changes in inventories of finished goods, work -in- progress and	-	-	-	-	-	-	-	-	-	53.38
	stock -in -trade
	Employee benefits expense	1.85	1.90	5.35	7.21	19.55	8.80	4.56	32.63	27.69	275.53
	Finance costs	25.27	25.78	24.55	103.67	82.76	53.81	53.48	50.50	212.91	179.70
	Depreciation & amortization	-	-	-	-	-	5.07	0.00	155.03	146.79	625.00
	Other expenses	(2.91)	4.97	6.16	24.17	49.45	10.61	12.26	(145.69)	75.49	268.08
	Total expenses	24.21	32.65	38.79	135.05	167.44	78.30	70.30	187.02	462.88	1,954.67
3	Profit /(Loss) before exceptional and extraordinary items	60.42	(12.19)	(25.76)	0.45	(110.39)	43.99	(30.44)		(88.16) (249.53) (1,265.62)
	and tax (1-2)
4	Share of profit/(loss) of associates and joint ventures	-	-	-	-		-	-	(0.33)	-	(175.78)
5	Profit/(Loss) before exceptional items and tax(3+4)	60.42	(12.19)	(25.77)	0.45	(110.39)	43.99	(30.44)		(88.49) (249.53) (1,441.40)
6	Exceptional Items	-	-		-	(4,883.18)	(61.32)	60.73		(4,348.91) (1,824.64) (4,506.46)
7	Profit/(Loss) before tax (5-6)	60.42	(12.19)	(25.77)	0.45	(4,993.57)	(17.32)	30.29	(4,437.40)		(2,074.17) (5,947.86)
8	Tax expense
	Current tax	-	-	-	-	-	-	-	-	-	-
	Deferred tax	-	-	-	-	-	-	-	(969.62)	-	(969.62)
	Total Tax Expenses	-	-	-	-	-	-	-	(969.62)	-	(969.62)
9	Net Profit / (Loss) form ordinary activities after tax (7+8)	60.42	(12.19)	(25.77)	0.45	(4,993.57)	(17.32)	30.29		(5,407.02) (2,074.17) (6,917.48)
	10 Other Comprehensive income (OCI)
	Items that will not be reclassified to profit & Loss	-	-	-	-	-	-	-	3,898.65	-	3,898.65
	Total other Comprehensive Income (Net of Tax)	-	-	-	-	-	-	-	3,898.65	-	3,898.65
	11 Total Comprehensive income for the period (9+10)	60.42	(12.19)	(25.77)	0.45	(4,993.57)	(17.32)	30.29	(1,508.36)		(2,074.17) (3,018.83)
	12 Profit/Loss from discontinued operation	-	-	-	-	-	-	-	-	-	-
	13 Net profit /loss for the period (11+12)	60.42	(12.19)	(25.77)	0.45	(4,993.57)	(17.32)	30.29	(1,508.36)		(2,074.17) (3,018.83)
	14 Minority interest	-	-	-	-		12.81	0.77	58.31	227.36	26.26
	15 Net profit/loss after minority interest (13-14)	60.42	(12.19)	(25.77)	0.45	(4,993.57)	(30.13)	29.52	(1,450.05)		(1,846.81) (2,992.57)
	16 Paid up equity share capital (face value of Rs 1 / each)	2,501.00	2,501.00	2,501.00	2,501.00	2,501.00	2,501.00	2,501.00	2,501.00	2,501.00	2,501.00
	17 Other equity	-		-		(1,403.50) (1,403.96)	-		-	(1,942.53)	(95.72)
	18 Earning per share (not annualized)
	Basic and Diluted	0.02	(0.00)	(0.01)	0.00	(2.00)	(0.01)	0.01	(0.58)	(0.74)	(1.20)

Notes to financial results:

• 1 The above Audited financial results have been reviewed and recommended by the Audit Committee on 29th May, 2023 and subsequently have been approved by the Board of Directors of the company at their meeting held on 29th May, 2023
• 2 The Financial results have been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under Section 133 of Companies Act, 2013 read with relevant rules thereunder and in terms of regulations of the SEBI (listing obligations and disclosure requirements) Regulations, 2015 (as amended).
• 3 During the year, company has shown expense under the head exceptional items as detailed below:

Particulars		Standalone Consolidated
i) Diminution in value of inventory	-	(1,172.98)
ii)Balances written back/(off)	-	448.11
iii) Loss on sale of fixed assets	-	(803.47)
iv) Loss on sale of inventory		(113.66)
v) Provision for bad debts		(182.64)
Total	-	(1,824.64)

• 4 The other income for the year ended 31st march 2023 for includes balances written back amounting to Rs 67.76 lakhs which have been outstanding for more than 3 years.
• 5 The statutory dues of TDS and GST amounting to Rs 1.87 lacs, and 55.46 lacs respectively as on 31st march, 2023
• 6 The figures for the quarter ended 31st March 2023 are the balancing figures between the audited figures of nine year ending 31st March, 2023 and the unaudited published figure upto nine months ended on 31st December, 2022 of the relevant financial year.
• 7 The consolidated financial statements include financial statements of the subsidiary RT Packaging Ltd., joint venture Rollatainers Toyo Machines Pvt. Ltd. (strike off) and associate Oliver Engineering Pvt. Ltd.(Company under corporate insolvency resolution process)
• 8 The Company's accumulated losses as on 31st March, 2023 stands at Rs.12,265.47 lakhs. The Group has incurred a net loss of Rs. 2074.17 lakhs for the period ended 31st March, 2023 and accumulated losses as on 31st March, 2023 stand at Rs. 21,185.34 lakhs. However, these financial results have been prepared on the going concern basis as the management is confident on the Company's ability to continue as a going concern for a foreseeable future.
• 9 Previous year figures have been regrouped and rearranged wherever necessary to make them comparable with those of current year.

For ROLLATAINERS LIMITED

Aarti Jain Digitally signed by Aarti Jain Date: 2023.05.29 16:56:49 +05'30'

AARTI JAIN Chairperson

Date: 29th May 2023 Place: New Delhi

ROLLATAINERS LIMITED

Statement of Audited Standalone and Consolidated Assets and Liabilities

	Rupees In "Lakhs"
Particulars			Standalone		Consolidated
A	ASSETS		As at 31.03.2023	As at 31.03.2022	As at 31.03.2023	As at 31.03.2022
1		Non-current assets
	(a)	Property, plant and equipment	-	-	4,480.28	5,611.03
	(b)	Capital work-in-progress	-	-	-	-
	(c)	Financial assets
		Investment	340.00	-	340.00	-
	(d)	Deferred tax assets (net)	-	-	-	-
	(e)	Other non-current assets	2,400.71	2,400.71	111.40	111.40
		Sub total-Non-current assets	2,740.71	2,400.71	4,931.68	5,722.43
2		Current assets
	(a)	Inventories	-	-	-	1,312.07
	(b)	Financial assets
		Trade receivables	458.43	877.32	187.75	791.59
		Cash and cash equivalents	21.75	20.81	48.88	35.66
		Other bank balances	9.31	9.31	47.55	45.92
		Other current financial assets	-	1.13	12.91	11.47
	(c)	Current tax assets (net)	68.46	68.58	98.83	91.75
	(d)	Other current assets	892.39	513.45	368.33	535.23
		Sub total-current assets	1,450.33	1,490.59	764.25	2,823.69
		TOTAL-ASSETS	4,191.04	3,891.30	5,695.93	8,546.12
(B)		EQUITY AND LIABILITIES
1	Equity
	(a)	Equity share capital	2,501.30	2,501.30	2,501.30	2,501.30
	(b)	Other equity	(1,403.50)	(1,403.96)	(1,942.53)	(95.72)
	(c)	Non controlling interest	-	-	(1,005.90)	(778.54)
		Sub total-equity	1,097.80	1,097.34	(447.12)	1,627.04
2	Liabilities
	(a)	Non-current liabilitiesFinancial liabilities
		Borrowings	961.95	858.28	3,083.95	2,870.54
		Other financial liabilities	-	-	54.40	54.40
	(b)	Provisions	-	-	-	13.75
		Sub total-Non-current liabilities	961.95	858.28	3,138.35	2,938.70
		Current liabilities
	(a)	Financial liabilities
		Borrowings	-	-	-	-
		Trade payables	27.98	96.99	781.21	1,790.53
	(b)	Other financial liabilities	2,048.60	1,785.59	2,048.60	1,785.59
	(c)	Other current liabilities	54.71	53.10	174.88	403.73
	(d)	Provisions	-	-	-	0.53
		Sub total-current liabilities	2,131.29	1,935.68	3,004.69	3,980.39
		TOTAL EQUITY AND LIABILITIES	4,191.04	3,891.30	5,695.92	8,546.12
					For ROLLATAINERS LIMITED
					Digitally signed by Aarti Jain
				Aarti JainDate: 2023.05.29 17:00:00 +05'30'
		Date: 29th May 2023	AARTI JAIN
		Place: New Delhi	Chairperson

ROLLATAINERS LIMITED
	Consolidated Cash Flow Statement for the year ended 31st March, 2023
					(Rs. in Lakhs)
	Particulars	As at	As at	As at	As at
		31.03.2023	31.03.2022	31.03.2023	31.03.2022
			Standalone		Consolidated
			Audited		Audited
A	CASH FLOW FROM OPERATING ACTIVITIES:
	Profit as per profit & loss account (PBT)	0.45	(4,993.57)	(2,074.17)	(5,772.08)
	Add: Other comprehensive income			-	6.84
	Add: Exceptional items
	Interest on preference shares	-	157.55	-	157.55
	Loss on sale of fixed asset	-	-	803.47	173.75
	Diminution in value of inventory	-	-	1,172.98	-
	Balances written off/ (back)	-	3,893.53	(448.11)	0.04
	Loss/Gain on sale of investment	-		-	304.97
	Impairment of investments	-		-	24.33
	Loss on sale of inventory	-	832.10	113.66	-
	Capital -work-in- progress written off			-	50.31
	Provision for doubtful debt			182.64	-
	Depreciation/amortisation and impairment			-	625.00
	Impairment of fixed assets	-	-	146.79	3,795.51
	Financial expense	103.67	82.76	212.91	179.70
	Liabilities written back	-	-	-	(47.30)
	Interest income	(95.49)	(0.19)	(99.10)	(0.64)
		8.62	(27.83)	11.07	(502.02)
	Change in current / Non current liabilities:
	(Increase)/decrease in inventories	-	-	25.43	295.19
	(Increase)/decrease in trade receivables	418.89	860.11	421.21	1,165.20
	(Increase)/decrease in other non- current assets	-	570.00	-	569.52
	(Increase)/decrease in other current assets	(377.81)	345.22	(380.17)	351.19
	Increase/(decrease) in trade payable	(36.14)	(25.49)	(83.55)	(203.73)
	Increase/(decrease) in current liabilities	1.62	(7.75)	(125.24)	76.33
	Increase/(decrease) in other financial liabilities	297.90	(5,115.92)	297.91	(5,101.84)
	Increase/(decrease) in provisions	-	-	(14.29)	(87.12)
	Cash generation from operations activities	313.08	(3,401.65)	152.37	(3,437.30)
	Tax refund/ (paid)	0.12	-	(7.08)	-
	Net cash from operating activities	313.20	(3,401.65)	145.29	(3,437.30)
B	CASH FLOW FROM INVESTING ACTIVITIES
	Sale of fixed assets	-	-	180.57	580.79
	Investments realised/(made)	(340.00)	3,406.47	(340.00)	3,406.47
	Proceeds/(purchase) from maturity of bank deposits	-		(1.63)	-
	and other balances
	Interest received & other income	27.73	0.19	29.07	0.64
	Net cash from investing activities	(312.27)	3,406.66	(132.07)	3,987.90
C	CASH FLOW FROM FINANCING ACTIVITIES
	Repayment of borrowing	-	-	-	(570.00)
	Net cash from financing activities	-	-	-	(570.00)
	Net cash flows during the year (A+B+C)	0.93	5.01	13.22	(19.40)
	Cash & cash equivalents (opening balance)	20.81	15.80	35.66	55.06
	Cash & cash equivalents (closing balance)	21.75	20.81	48.88	35.66

For ROLLATAINERS LIMITED

Aarti Jain Digitally signed by Aarti Jain Date: 2023.05.29 17:00:15 +05'30'

Independent Auditor's Report on the Standalone Annual Financial Results of the Company and Review of Quarterly Financial Results of Rollatainers Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (as amended)

To The Board of Directors Rollatainers Limited

Opinion

• 1. We have audited the accompanying statement of Standalone Annual Financial Results of Rollatainers Limited ("the Company") for the year ended March 31, 2023 and reviewed the accompanying statement of Standalone Financial Results for the quarter ended March 31, 2023 (referred to as "Statement" and shall be construed accordingly), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, including relevant circulars issued by the SEBI from time to time.
• 1. In our opinion and to the best of our information and according to the explanations given to us, these quarterly and annual standalone 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 in conformity with the applicable Indian Accounting Standards ("Ind-AS") prescribed under Section 133 of the Companies Act, 2013 ("the Act") and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the quarter ended March 31, 2023 and of the net loss and other comprehensive income and other financial information for the year ended March 31, 2023.
• 1. Conclusion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the Standalone Financial Results and Review of 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 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.

• 1. Material uncertainty related to going concern
  • a). As stated in note no. 7 of the accompanying Statement, the accumulated losses as at March 31, 2023 stand at Rs.12,265.47 lakhs resulting in erosion of its net worth. This condition indicate that a material uncertainty exists which may cast significant doubt about the Company's ability to continue as a going concern. However, these financial results have been prepared on the going concern basis as the management is confident on the Company's ability to continue as a going concern for a foreseeable future.

Our report is not modified in respect of the above-mentioned matter.

• 1. Emphasis of matter
  • a). The Company is maintaining 10 bank accounts out of which the bank statement of the following accounts was not available, hence we could not comment upon the correctness of the balances:

S.No.	Bank name	Amount (Rs. in lakhs)
1	Bank of Rajasthan	2.32
2	HSBC Account-Noida	#
3	PNB FD Haridwar	1.25
4	IDBI Bank	1.23
5	Yes bank	#

# denotes less than 1,000/-

b). Trade payables, trade receivables and other loans and advances given or taken are to subject for reconciliation and confirmation.

Our report is not modified in respect of the above-mentioned matter.

Management's Responsibilities for the Standalone Financial Results

1. This Statement results has been prepared on the basis of the standalone annual financial statements and interim financial results. The Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net loss and other comprehensive income and other financial information in accordance with the applicable Ind-AS prescribed under section 133 of the Act read with relevant rules issued thereunder and other 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 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

• 1. In preparing the Statement, the Board of Directors are 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 the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
• 1. The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities:

• 1. Our objectives are to obtain reasonable assurance about whether the Statement as a whole is 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 the Statement.
• 1. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
  • Identify and assess the risks of material misstatement of the Statement, 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 control.
  • 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 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.
  • Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
• 1. 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.
• 1. 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

• 1. The review of standalone quarterly financial results for the quarter and year ended March 31, 2022 included in the Statement was carried out and reported by Shukla Gupta & Arora who have expressed unmodified conclusion vide their audit report dated May 31, 2022 whose audit report has been furnished to us and which has been relied upon by us for the purpose of our review of the Statement. Our report is not modified in respect of this matter.
• 1. The Statement includes the results for the quarter ended March 31, 2023 being the balancing audited figures in respect of the full financial year ended March 31, 2023, and the published unaudited year-to-date figures up to December 31, 2022, being the date of the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For Chatterjee & Chatterjee Chartered Accountants Firm registration no: 001109C

BALDEO DAS GUJRATI Digitally signed by BALDEO DAS GUJRATI Date: 2023.05.29 17:32:19 +05'30'

BD Gujrati Partner Membership Number: 010878

Place: New Delhi Date: May 29, 2023

UDIN: 23010878BGWRCD9098

Independent Auditor's Report on consolidated annual financial results and review of the quarterly financial results of Rollatainers Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To The Board of Directors Rollatainers Limited

1. Introduction

We have audited the accompanying statement of consolidated annual financial results of Rollatainers Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit/(loss) after tax and total comprehensive income / loss of its associates and joint ventures for the year ended March 31, 2023 and reviewed the accompanying statement of consolidated financial results for the quarter ended March 31, 2023 (referred to as "the Statement" and shall be construed accordingly), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) , including relevant circulars issued by the SEBI from time to time.

• 1. In our opinion and to the best of our information and according to the explanations given to us, these quarterly and annual consolidated 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 in conformity with the applicable Indian Accounting Standards ("Ind-AS") prescribed under Section 133 of the Companies Act, 2013 ("the Act") and other accounting principles generally accepted in India, of the net loss and other comprehensive income and other financial information for the quarter ended March 31, 2023.
• 1. Conclusion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the consolidated financial results and review of 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 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.

• 1. The Statement includes the results of the following entities:
  • a). RT Packaging Limited (subsidiary)
  • b). Rollatainers Toyo Machines Private Limited (joint venture)
  • c). Oliver Engineering Private Limited (associate)
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. Material uncertainty related to going concern
  • a) As stated in note no. 7 to the accompanying Statement, the Group has incurred a net loss of Rs. 17.32 lakhs and Rs. 2,074.17 lakhs for the quarter and year ended March 31, 2023 and accumulated losses as on December 31, 2022 stand at Rs. 21,185.34 lakhs. This condition indicate that a material uncertainty exists which may cast significant doubt about the Company's ability to continue as a going concern. However, these financial results have been prepared on the going concern basis as the management is confident on the Company's ability to continue as a going concern for a foreseeable future.

Our report is not modified in respect of the above-mentioned matter.

• 1. Emphasis of matter
• a). The financial results of associate and joint venture have not been reviewed/audited by the auditors. Further, the joint venture- Rollatainers Toyo Machines Private Limited, has been struck off as on the current date. CIRP process has been initiated against Oliver Engineering Private Limited -the associate w.e.f. May 12, 2022.
• b). The Company is maintaining 10 bank accounts out of which for the following banks, statement is not available:

S.No.	Bank Name	Amount (In lacs)
1	Bank of Rajasthan	2.32
2	HSBC Account-Noida	#
3	PNB-FD-Haridwar	1.25
4	IDBI Bank	1.23
5	Yes Bank	#

# denotes less than Rs 1,000/-

d). Trade payables, trade receivables and other loans and advances given or taken are to subject to reconciliation and confirmation.

Our report is not modified in respect of the above-mentioned matter.

Management's Responsibilities for the consolidated financial results

• 1. This Statement results has been prepared on the basis of the consolidated annual financial statements and interim financial results. The Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net loss and other comprehensive income and other financial information in accordance with the applicable Ind-AS prescribed under section 133 of the Act read with relevant rules issued thereunder and other 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 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.
  • 1. In preparing the Statement, the Board of Directors are 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 the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
  • 1. The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities:

1. Our objectives are to obtain reasonable assurance about whether the Statement as a whole is 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 the Statement.

• 1. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
  • Identify and assess the risks of material misstatement of the Statement, 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 control.
  • 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 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.
  • Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
• 1. 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.
• 1. 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

• 1. The share of loss of one (1) associate has not been reviewed/audited by their auditors as at March 31, 2023, has not been included in the consolidation as it has loss exceeding the carrying value of the Investments as on March 31, 2023. The annual financial information, has not been furnished to us by the Group so far it relates to the amounts and disclosures included in respect of the aforesaid associate, is based solely on such unaudited financial information. According to the information and explanations provided to us by the management, this financial information is not material to the Group. We have relied on the management certified financial information for the purpose of consolidation.
• 1. The Statement include the annual financial information of one (1) joint venture which has not been reviewed/audited as at March 31, 2023.This annual financial information has been furnished to us by the Group so far as it relates to the amounts and disclosures included in respect of the aforesaid joint venture, and is based solely on such unaudited financial information. According to the information and explanations provided to us by the management, this financial information is not material to the Group. We have relied on the management certified financial information for the purpose of consolidation.
• 1. The review of consolidated audited quarterly financial results for the quarter and year ended March 31, 2022 included in the Statement was carried out and reported by Shukla Gupta & Arora, who have expressed unmodified conclusion vide their audit report dated May 31, 2022 respectively, whose audit report have been furnished to us and which has been relied upon by us for the purpose of our review of the Statement. Our report is not modified in respect of this matter.
• 1. The Statement includes the results for the quarter ended March 31, 2023 being the balancing audited figures in respect of the full financial year ended March 31, 2023, and the published unaudited year-to-date figures up to December 31, 2022, being the date of the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For Chatterjee & Chatterjee Chartered Accountants Firm registration no: 001109C

BD Gujrati Partner Membership Number: 010878 BALDEO DAS GUJRATI Digitally signed by BALDEO DAS GUJRATI Date: 2023.05.29 17:31:39 +05'30'

Place: New Delhi Date: May 29, 2023

UDIN: 23010878BGWRCE6499

Ref.No.: RTL/BSE/NSE/2023-24 Date: 29th May 2023

To

The Secretary	The Secretary
BSE Limited	National Stock Exchange Limited
Phiroze Jeejeebhoy, Towers Limited	Exchange Plaza
Dalal Street, Mumbai -4000 01	Bandra Kurla Complex Bandra (E)
	Mumbai -400 051
Scrip Code: 502448	Symbol: ROLLT

Sub: Declaration with respect to unmodified opinion of the Statutory Auditors on the Audited Financial Results for the financial year ended 31st March, 2023.

Dear Sir/Ma'am,

Pursuant to Regulation 33(3)(d) of the Securities and Exchange Board of India [Listing obligations and Disclosure Requirements) Regulations, 2015 and as amended till date, we hereby declare that M/s Chatterjee & Chatterjee, Chartered Accountants, Statutory Auditors of the Company has issued the Audit Report on Audited Financial Results (Standalone and Consolidated) of the Company for the financial year ended 31st March, 2023 with an unmodified opinion.

Please take the above on record.

Thanking You, Yours Faithfully

For Rollatainers Limited

Aarti Jain Digitally signed by Aarti Jain Date: 2023.05.29 17:39:34 +05'30'

(Aarti Jain) Chairperson and Director