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Ruchi Infrastructure Ltd Interim / Quarterly Report 2020
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Interim / Quarterly Report
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RUCHI INFRASTRUCTURE LTD.
101 ,The Horizon, 1st Floor, Nath Mandir Road, 11/5, South Tukoganj, Indore - 452 001 (MR) Tel. : 91 -731-4755209, 4755227 CIN - L65990MH1984PL0033878
RIFL/2019 13th August, 2019
BSE Ltd. Floor No.25, Phiroze Jeejeebhoy Tower Dalal Street, Mumbai — 400 001
National Stock Exchange of India Ltd. "Exchange Plaza" Bandra—Kurla Complex, Bandra (E), Mumbai — 400 051
Dear Sir(s),
We attach herewith the un—audited financial results of Ruchi Infrastructure Limited for the quarter ended 30th June, 2019 duly approved by the Board of Directors of the Company at its meeting held on 13th August, 2019 and reviewed by the Statutory Auditors. The Limited Review Report issued by the Statutory Auditors in this regard is also attached for your records.
The meeting commenced at 12.30 pm and concluded at 3.30 pm.
Kindly take the same on record.
Thanking you,
Yours faithfully,
For Ruchi Infrastructure Ltd.
W
Executive Director
Enclosures: As Above
INDEPENDENT AUDITOR'S REVIEW REPORT
\
TO, 13.08.2019 The Board of Directors Ruchi Infrastructure Limited
We have reviewed the accompanying statement of Standalone Unaudited Financial Results of Ruchi Infrastructure Limited ("the Company") for the quarter ended 30th June 2019 ("the statement"), being submitted by the Company pursuant to Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended. Attention is drawn to the fact that the figures for the 3 months ended 31St March, 2018 as reported in this financial results are the balancing figures between audited figures in respect of the full previous financial year and published year to date figures up to third quarter of the previous financial year.
This statement is the responsibility of the Company's Management and has been approved by the Board of Directors and has been prepared on the basis of the related interim financial statements in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting " (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the financial statements based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. \
Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with the recognition and measurement principles laid down in' applicable Indian Accounting Standard (Ind AS ) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
| For Ashok Khasgiwala | & Co. LLP |
|---|---|
| CA Avinash Baxi | |
| ( Partner)M.No. 079722 |
Place: Indore UDIN : 19079722AAAAEA9776 Limited Review Report on Unaudited Quarterly Consolidated Financial Results of the Company Pursuant to the Requlation 33 of the SEBI (Listinq Obligations and Disclosure Requirements) Requlations, 2015
\
To Board of Directors of Ruchi Infrastructure Limited
-
- We have audited the accompanying Statement of consolidated financial results of Ruchi Infrastructure Limited ("the Holding Company") and its Subsidiaries ("the Holding company and its subsidiaries together referred to as "the Group") and share of profit (loss) its associate for the year ended 31st March, 2019, attached herewith, being submitted by the holding company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) ( as amended). Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 30 June 2018 and quarter ended 31 March 2019, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review since the requirement of submission of quarterly consolidated financial results has become mandatory only from 1 April 2019.
-
- This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'lnterim Financial Reporting' ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
-
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable
- The Statement includes the results of the following entities:
Name of Subsidiaries
- a. Peninsular Tankers Private Limited.
- b. Manglore Liquid lmpex Private Limited.
-
- Ruchi Renewable Energy Private Limited.
Name of Associate
Narang and Ruchi Devlopers
-
- 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 branch auditors and 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.
-
- We did not review the interim financial information of 2 subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total revenues of Rs.639.20 lacs, total net profit after tax of Rs.66.78 lacs and total comprehensive income of Rs.66.78 lacs, for the quarter ended 30th June 2019 as considered in the consolidated unaudited financial results. These interim financial information of subsidiaries have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associates is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.
The consolidated unaudited financial results also includes the Group's share of net loss after tax of Rs. 0.01 lacs and total comprehensive income of Rs.(0.0'l) lacs for the quarter ended 30th June 2019 as considered in the consolidated unaudited financial results, in respect of one associates, whose interim financial information have not been reviewed by us and certified by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of associate is based solely on the financial information provided by the management.
Our conclusion on the Statement is not modified in respect of the above matters
For Ashok Khasgiwala & Co. LLP Chartered
CA Avinash Baxi 3"
Place: Indore (Partner) Date: 13/08/2019 M.N0.079722 UDIN : 19079722AAAAEB4977
RUCHI INFRASTRUCTURE LTD
CIN L65990MH1984PLC033878
Regd. Office :706, Tulsiani Chambers, Nariman Point, Mumbai — 400 021
Phone : 02249712051
Website : www.ruchiinfrastructure.com, E Mail : [email protected]
| STANDALONE | |||||
|---|---|---|---|---|---|
| Year ended | |||||
| Quarter Ended30.06.201931.03.201930.06.2018 | 31.03.2019 | ||||
| PARTICU LARS | (Reviewed) | (Audited ) (Not Reviewed) | (Audited ) | ||
| Income | |||||
| I | Revenue from operations | 1,013 | 879 | 2,438 | 5,141 |
| ll. | Otherlncome | 120 | 101 | 300 | 767 |
| III. | Total Income (I +II) | 1,133 | 980 | 2,738 | 5,908 |
| IV. | Expenses | ||||
| (3) Cost of Materials Consumed | 36 | 36 | 44 | 148 | |
| (b) Purchases of Stock in Trade | - | - | 841 | 841 | |
| (c ) Changes in Inventories of finished goods, work in progress and | |||||
| stock in trade | 4 | 43 | 397 | 447 | |
| (d) Employee benefits expenses | 201 | 227 | 184 | 783 | |
| (e) Finance Cost | 272 | 301 | 332 | 1,265 | |
| (f) Depreciation, amortisation and Impairment Expense | 293 | 322 | 308 | 1,247 | |
| (g) Other Expenses | 481 | 771 | 599 | 2,753 | |
| Total Expenses (IV) | 1,287 | 1,700 | 2,705 | 7,484 | |
| V | III -Profit /(Ioss ) before exceptional items and tax (IV) | (154) | (720) | 33 | (1,576) |
| - | - | - | |||
| VI | Exceptional Items | — | |||
| VII | Profit /(Ioss) before tax (v -VI) | (154) | (720) | 33 | (1,576) |
| VIII | |||||
| Tax Expenses | - | - | 47 | - | |
| Current Tax | |||||
| Deferred Tax | (36)- | (121) | 35- | (264) | |
| Tax for earlier years | 13 | 13 | |||
| IX | Profit /(Ioss) for the period (VII-VIII) | (118) | (612) | (49) | (1,325) |
| X | Other Comprehensive Income | ||||
| (a) Items that will not be reclassified to profit or loss | (55) | (28) | (574) | (772) | |
| Tax Relating to above items | 4 | 3 | 58 | 84 | |
| (b) Items that will be reclassified to profit or loss | — | - | - | - | |
| Tax Relating to above items | - | - | - | - | |
| XI | Total Comprehensive Income for the period (IX + X) | (169) | (637) | (565) | (2,013) |
| XII | Paid up Equity Share Capital ( Face Value of Re 1 each) | 2052 | 2052 | 2052 | 2052 |
| Xlil | Earning per equity share of face value of Re 1 eachBasic and Diluted earning per share before Extraordinary and | ||||
| Exceptional Items | |||||
| a) Basic (Rs) | (0.11) | (0.35) | (0.07) | (0.84) | |
| b) Diluted (Rs.) | (0.11) | (0.35) | (0.07) | (0.84) | |
| Earning per equity share of face value of Re 1 eachBasic and Diluted earning per share after Extraordinary and' | M | ||||
| Exceptional Items | |||||
| a) Basic (Rs.) | (0.11)(0.11) | (0.35)(0.35) | (0.07)(0.07) | 0.84)(0.84) | |
| b) Diluted (RS.) | |||||
| For and on behalf of the Board of Directors | |||||
| Place | Indore | ||||
| Date | 13th August 2019 | Executive Director |
RUCHl INFRASTRUCTURE LTD
ClN L65990MH1984PLC033878
Regd. Office :706 , Tulsiani Chambers, Nariman Point, Mumbai — 400 021
Phone : 022—49712051
Website : www.ruchiinfrastructure.com E Mail : [email protected]
UNAUDlTED SEGMENT INFORMATION FOR THE QUARTER ENDED 30th JUNE 2019 -Rs. Lacs
| STANDALONE | ||||
|---|---|---|---|---|
| PART'CULARS | Quarter Ended | Year ended | ||
| 30.06.2019 | 31.03.2019 | 30.06.2018 | 31.03.2019 | |
| (Reviewed) | (Audited ) | (Not Reviewed) | (Audited ) | |
| Segment Revenue | ||||
| Commodities | — | 80 | 1,456 | 1,536 |
| Infrastructure | 953 | 752 | 929 | 3,399 |
| Others | 60 | 47 | 53 | 206 |
| Unallocable | - | - | - | - |
| Total Segment Revenue | 1,013 | 879 | 2,438 | 5,141 |
| Less : inter segment Revenue | ||||
| Net Sales/income from operations | 1,013 | 879 | 2,438 | 5,141 |
| Segment Results | ||||
| (Profit/(loss) before tax and interest from each segment) | ||||
| Commodities | (164) | (350) | 76 | (785) |
| Infrastructure | 407 | 179 | 451 | 1,211 |
| Others | 16 | 18 | 7 | 34 |
| Unallocable | (141) | (266) | (169) | (771) |
| Total | 118 | (419) | 365 | (311) |
| Less: (i) Finance Cost | 272 | 301 | 332 | 1,265 |
| Profit for the Period Before Tax | (154) | (720) | 33 | (1,576) |
| Segment Assets | ||||
| Commodities | 3,680 | 3,658 | 4,677 | 3,658 |
| infrastructure | 15,864 | 15,764 | 15,915 | 15,764 |
| Others | 94 | 224 | 212 | 224 |
| Unallocable | 15,291 | 16,141 | 18,076 | 16,141 |
| Total Assets | 34,929 | 35,787 | 38,880 | 35,787 |
| Segment Liabilities | ||||
| Commodities | 7,852 | 7,888 | 8,298 | 7,888 |
| Infrastructure | 1,872 | 1,007 | 928 | 1,007 |
| Others | 6 | 3 | 3 | 3 |
| Unallocable | 13,479 | 14,965 | 16,280 | 14,965 |
| Total Liabilities | 23,209 | 23,863 | 25,509 | 23,863 |
| For and on behalf of the Board of Directors | ||||
| Place: lndore | ||||
| 13th August, 2019Date : | Executive Director | |||
| m |
NOTES :
- The unaudited standalone financial results for the quarter ended 30th June, 2019 were reviewed by the Audit committee at its meeting held on 13th August, 2019 and approved at the meeting of Board of Directors on that date. The statutory auditors of the company have carried out limited review of these results in terms of Regulation 33 of SEBi ( Listing obligations and Disclosure requirements) Regulations, 2015.
- Other Expenses include the following amounts towards provisions against trade receivables as per expected credit loss model under Ind AS.
| ( Rs. in Lacs ) | |||
|---|---|---|---|
| Quarter Ended | Year ended | ||
| 30.06.2019 31.03.2019 | 30.06.2018 | 31.03.2019 | |
| 181 | 323 | 180 | 1,131 |
The Company has adopted Ind AS 116 , which is effective from April 1, 2019 and applied the standard to its leases, using Modified Retrospective Approach. Accordingly the Company has not restated comparative information. lnstead the cumulative effect of initially applying the standard has been recognised as an adjustment to the opening balance of retained earnings as on April 1, 2019.
The impact on the Profit and Loss account for the quarter ending June 30, 2019 is as below:
| ( Rs. in Lacs ) | ||||
|---|---|---|---|---|
| Particulars | Amountwithout lNDAs 116application | Amount withInd AS 116Impact | Impact onProfit /( oss)before taxes | |
| Rent Expense | 31 | 17 | 14 | |
| Depreciation | 286 | 293 | (7) | |
| Finance Cost | 268 | 272 | (4) | |
| correspond with the current periods classification / disclosure. | WThe figures for the previous period/ year have been regrouped / reclassified / rearranged, where ever necessary, to | |||
| For and on behalf of the Board of Directors | ||||
| Place:lndoreDate :13th August, 2019 | Executive Director | |||
The figures for the previous period/ year have been regrouped / reclassified / rearranged, where ever necessary, to correspond with the current periods classification / disclosure.
RUCHI INFRASTRUCTURE LTD CIN L65990MH1984PLC033878 Regd. Office :706, Tulsiani Chambers, Nariman Point, Mumbai ~400 021
Phone : 022-49712051
Website : www.ruchiinfrastructure.com, E Mail : [email protected]
| STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER | ENDED 30th JUNE, 2019 | (Rs. in lacs) | |||
|---|---|---|---|---|---|
| Quarter Ended | year ended | ||||
| PARTICULARS | 30.06.2019 | 31.03.2019 | 30.06.2018 | 31.03.2019 | |
| (Reviewed) | (Audited ) ( Not Reviewed) | (Audited ) | |||
| Income | |||||
| i | Revenue from operations | 1,688 | 1,264 | 3,574 | 7,498 |
| ll. | Other Income | 112 | 116 | 260 | 684 |
| III. | Total Income (I + II ) | 1,800 | 1,380 | 3,834 | 8,182 |
| IV. | Expenses | ||||
| (a) Cost of Materials Consumed | 36 | 36 | 44 | 149 | |
| (b) Purchases of Stock in Trade | 49 | 20 | 1,220 | 1,240 | |
| (c ) Changes in Inventories of finished goods , work in progress and stock in trade | 4 | 43 | 397 | 447 | |
| (d) Employee benefits expenses | 239 | 272 | 203 | 894 | |
| (e) Finance Cost | 452 | 457 | 498 | 1,907 | |
| (f) Depreciation, amortisation and Impairment Expense | 506 | 642 | 534 | 2,184 | |
| (g) Other Expenses | 551 | 892 | 765 | 3,173 | |
| Total Expenses (IV) | 1,837 | 2,362 | 3,661 | 9,994 | |
| V | Profit/(loss) before share of profit /(Ioss) of associate & Exceptional Items (III—IV) | (37) | (982) | 173 | (1,812) |
| VI | Share in Profit /(loss) of associate | (0) | (0) | (0) | (1) |
| VII | Profit /(loss ) before exceptional items and tax ( V+VI) | (37)- | (982)- | 173 | (1,813)- |
| VIII | Exceptional Items | — | |||
| IX | Profit /(Ioss) before tax (VII -VIII ) | (37) | (982) | 173 | (1,813) |
| X | Tax Expenses | ||||
| Current Tax | 28 | 3 | 47 | 2 | |
| Deferred Tax | (32) | (129) | 35 | (272) | |
| Tax for earlier years | - | 13 | - | 13 | |
| XI | Profit /(loss) for the period (IX-X) | (33) | (869) | 91 | (1,556) |
| XII | Other Comprehensive Income | ||||
| (3) Items that will not be reclassified to profit or loss | (55) | (27) | (574) | (772) | |
| Tax Relating to above items | 4 | 3 | 58 | 84 | |
| (b) Items that will be reclassified to profit or loss | - | ~ | - | - | |
| Tax Relating to above items | - | - | - | ~ | |
| XIII | Total Comprehensive Income for the period ( XI + XII ) | (84) | (893) | (425) | (2,244) |
| XIV | Paid up Equity Share Capital ( Face Value of Re 1 each) | ||||
| ' | 2052 | 2052 | 2052 | 2052 | |
| XV | Earning per equity share of face value of Re 1 each | ||||
| Basic and Diluted earning per share before Extraordinary and Exceptional Items | , | ||||
| a) Basic (Rs) | (0.06) | 0.30) | (0.00) | (0.95) | |
| b) Diluted (Rs) | (0.06) | 0.30) | (0.00) | (0.95) | |
| Basic and Diluted earning per share after Extraordinary and Exceptional Items | |||||
| a) Basic (Rs) | (0.06) | (0.30) | (0.00) | (0.95) | |
| b) Diluted (Rs) | (006) | (0-30) | (0-00) | (095) |
Date 13th August 2019
Place Indore For and on behalf of Board of Directors
W9
Executive Director
| RUCHI INFRASTRUCTURE LTD | |||||
|---|---|---|---|---|---|
| CIN L65990MH1984PLC033878 | |||||
| Regd. Office :706 , Tulsiani Chambers, Nariman Point, Mumbai -400 021Phone : 022-49712051 | |||||
| Website : www.ruchiinfrastructure.com, E Mail : [email protected] | |||||
| SEGMENT INFORMATION FOR THE QUARTER ENDED JUNE 30, 2019 | (RS. In Lacs) | ||||
| PARTICULARS | 30.06.2019 | Quarter Ended31.03.2019 | 30.06.2018 | year ended31.03.2019 | |
| (Reviewed) | (Audited ) | ( Not Reviewed) | (Audited ) | ||
| Segment Revenue | |||||
| Trading | 53 | 80 | 1,931 | 2,012 | |
| Infrastructure | 1,575 | 1,137 | 1,590 | 5,280 | |
| Others | 60 | 47 | 53 | 206 | |
| Unallocable | — | - | — | - | |
| Total Segment Revenue | 1,688 | 1,264 | 3,574 | 7,498 | |
| Less : Inter segment Revenue | |||||
| Net Sales]Income from operations | 1,688 | 1,264 | 3,574 | 7,493 | |
| Segment Results | |||||
| (Profit/(loss) before tax and interest from each segment) | |||||
| Trading | (161) | (350) | 73 | (790) | |
| Infrastructure | 709 | 176 | 816 | 1,717 | |
| Others | 16 | 18 | 7 | 34 | |
| Unallocable | (149) | (369) | (225) | (867) | |
| Total | 415 | (525) | 671 | 94 | |
| Less: (i) Finance Cost | 452 | 457 | 498 | 1,907 | |
| Profit for the Period Before Tax | (37) | (982) | 173 | (1,813) | |
| Segment Assets | |||||
| Commodities | 6,564 | 3,838 | |||
| Infrastructure | 3,921 | 3,838 | |||
| Others | 23,79594 | 23,299224 | 25,809212 | 23,299224 | |
| 'Unallocable | 14,875 | 15,799 | 14,008 | 15,799 | |
| Total Assets | 42,685 | 43,160 | 46,593 | 43,160 | |
| Segment Liabilities | » | ||||
| Commodities | 7,900 | 7,893 | 8,313 | 7,893 | |
| Infrastructure | 2,545 | 1,134 | 912 | 1,134 | |
| Others | 6 | 3 | 3 | 3 | |
| UnaIIocable | 19,395 | 21,103 | 22,502 | 21,103 | |
| Total Liabilities | 29,846 | 30,133 | 31,730 | 30,133 | |
| For | Wand on behalf of the Board of Directors | ||||
| Place: Indore | |||||
| Date : 13th August, 2019 | |||||
| Executive Director |
NOTES :
- The unaudited consolidated financial results for the quarter ended 30th June , 2019 were reviewed by the Audit committee at its meeting held on 13th August, 2019 and approved at the meeting of Board of Directors on that date. The statutory auditors of the company have carried out limited review of these results in terms of Regulation 33 of SEBI ( Listing obligations and Disclosure requirements )' Regulations, 2015.
- Other Expenses include the following amounts towards provisions against trade receivables as per expected credit loss model under Ind AS.
| ( Rs. in Lacs ) | ||||
|---|---|---|---|---|
| -- | -- | -- | ----------------- | -- |
| Quarter Ended | Year ended | ||
|---|---|---|---|
| 30.06.2019 31.03.2019 | 30.06.2018 | 31.03.2019 | |
| 186 | 322 | 180 | 1,134 |
The Group has adopted Ind AS 116 , which is effective from April 1, 2019 and applied the standard to its leases, using Modified Retrospective Approach. Accordingly the Company has not restated comparetive information. Instead the cumulative effect of initially applying the standard has been recognised as an adjustment to the opening balance of retained earnings as on April 1, 2019.
The Impact on the Profit and Loss account for the quarter ending June 30, 2019 is as below:
| ( Rs. in Lacs ) | |||
|---|---|---|---|
| Particulars | Amountwithout INDAs 116application | Amount withInd AS 116Impact | Impact onProfit /( loss)before taxes |
| Rent Expense | 47 | 18 | 29 |
| Depreciation | 494 | 506 | (12) |
| Finance Cost | 431 | 452 | (21) |
The figures for the previous period/ year have been regrouped / reclassified / rearranged, where ever necessary, to correspond with the current periods classification / disclosure. 5 Date :13th August 2019 W
For and on behalf of the Board of Directors
Executive Director
Place: Indore