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Salasar Techno Engineering Limited Annual Report 2021
60476_rns_2021-06-01_5875d3a3-aef5-48d3-9ccb-e4edab2fde4f.pdf
Annual Report
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Salasar Techno Engineering Limited
Date: June 01, 2021
| Listing Department, | Department of Corporate Services, |
|---|---|
| The National Stock Exchange of India, | The BSE Limited, |
| Exchange Plaza, C-1 BandraKrla | PhirozeJeejeebhoy Towers, |
| Complex, Bandra (E), Mumbai- | Dalal Street, Mumbai- 400001, |
| 400051, | BSE Scrip Code: 540642 |
| NSE Symbol: SALASAR |
Subject: Outcome of the Board Meeting held on 01st June 2021, Tuesday.
Pursuant to the requirements of the Regulation $30& 33$ of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we wish to inform you that the meeting of the Board of Directors of the Company held today i.e. June 01, 2021 at 12:30 p.m. concluded at 01:18 p.m. The Board of Directors approved the following business:
-
- Audited Standalone Financial/Results of the Company for the quarter and financial year ended 31st March, 2021 along with Auditors Report thereon.
-
- Audited Consolidated Financial Results of the Company for the quarter and financial year ended 31st March, 2021 along with Auditors Report thereon.
Further, the report of Auditors is with unmodified opinion with respect to Audited Financial Results (Standalone & Consolidated) of the Company for the quarter and financial year ended March 31, 2021.
$\mathcal{L}$ onsidered, discussed and approved the proposal of increase in Authorized Share Capital of the company from Rs. 20,50,00,000/- (Rupees Twenty crores Fifty Lakhs only) divided into 2,05,00,000 (Two Crores Five Lakhs only) equity shares of Rs. 10/- each to Rs. 31,50,00,000/- (Rupees Thirty One Crores and Fifty Lakhs only) divided into 3,15,00,000 (Three Crores Fifteen Lakhs) equity shares of Rs. 10/- each subject to approval of shareholders through Postal Ballot.
Such increase in Authorised Share Capital of the Company will require consequent amendment in Capital Clause of Memorandum of Association of the Company, subject to approval of shareholders of the Company through Postal Ballot.
Considered, discussed and approved the proposal of Bonus issue of Equity shares in the ratio of 1:1 [i.e. 1 (One) fully paid up equity shares for every 1 (One) equity shares held.] to the equity shareholders of the Company subject to the approval of shareholders and after bonus issue, paid up share capital of the Company will be Rs. 28,57,05,280/- (Rupees Twenty Eight Crore Fifty Seven Lakhs Five Thousand Two Hundred Eighty) and compliance of SEBI Rules and Regulations through Postal Ballot.
Details required for bonus issue as per Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD//4/2015 dated September 09, 2015 enclosed as Annexure-I.
+91 120 654 6670 Fax: +91 11 45823834
CIN No. - L23201DL2001PLC174076
Unit 1 - Khasra 265, 281-283, Parsaun-Dasna, Jindal Nagar, Distt Hapur-201313 Unit 2- Khasra 1184,1185, Khera, Pilkhuwa, Tehsil Dhaulana, Distt. Hapur-245304 Unit 3- Khasra 686/6, Khera, Pilkhuwa, Tehsil Dhaulana, Distt. Hapur-245304 Office-KL-46, Kavi Nagar, Chaziabad-201002
Regd Office-E-20, South Extension 1, New Delhi-110049
+91 8938802180, 7351991000
Salasar Techno Engineering Limited
-
- The Board of Directors has recommended a Final Dividend of Rs. 1/- per equity share for the Financial Year ended 31st March, 2021 subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). The Final Dividend would be paid within 30 days from the date of the declaration at the AGM.
-
- Considered and approved Notice of Postal Ballot and Explanatory Statement for obtaining approval of Shareholders of the Company.
-
- Appointment of Mr. Deepika Madhwal (Membership No. ACS 31234, COP: 14808), Proprietor of M/s. Deepika Madhwal & Associates, Practicing Company Secretaries, Ghaziabad as Scrutinizer conducting the remote e-voting process in $\alpha$ fair and transparent manner.
-
- Considered and approved cut-off date, to ascertain the eligibility of members for remote e-voting and postal ballot, i.e. 28th May 2021, Friday.
-
- Discussed and approve the calendar of Events (for e-voting through Postal Ballot and other incidentals matters $&$ allied there to).
Thanking You
Yours faithfully
For Salasar Techno Engineering Limited
ngina Rahul Rastogi Company Secretary
CIN No. - L23201DL2001PLC174076
Unit 1 - Khasra 265, 281-283, Parsaun-Dasna, Jindal Nagar, Distt Hapur-201313 Unit 2- Khasra 1184,1185, Khera, Pilkhuwa, Tehsil Dhaulana, Distt. Hapur-245304 Unit 3- Khasra 686/6, Khera, Pilkhuwa, Tehsil Dhaulana, Distt. Hapur-245304 Office-KL-46, Kavi Nagar, Chaziabad-201002 Regd Office-E-20, South Extension 1, New Delhi-110049
+91 8938802180, 7351991000 +91 120 6546670 Fax: +91 11 45823834
[email protected] [email protected]
Salasar Techno Engineering Limited
ANNEXURE 1
Details regarding the proposed Bonus Issue as per SEBI circular dated September 09, 2015 read with the Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
| Sr. No. | Particulars | Description | |
|---|---|---|---|
| 1 | Type of securities proposed to be issued(viz. equity shares, convertible etc.) | Equity Shares | |
| $\mathbf{2}$ | Type of issuance (further public offering,rightissue,depositoryreceipts(ADR/GDR),qualifiedinstitutionsplacement, Preferential allotment etc.) | Bonus Issue | |
| 3 | Total number of securities proposed to beissued or the total amount for which thesecurities will be issued (approximately) | Rs. 14,28,52,640/- consisting of 1,42,85,264 equityshares of Rs. 10/-each. | |
| 4 | Whether bonus is out of free reservescreated out of profits or Share PremiumAccount | The Bonus equity shares will be issued out of SharePremium Account of the Company available as onMarch 31, 2021. | |
| 5 | Bonus Ratio | 1:1 i.e.1 (one) fully paid up equity share of every 1(one) fully paid up equity shares of Rs. 10/- each heldas on the record date. The record date will beannounced in due course. | |
| Pre-bonus issue | |||
| 6 | Details of share capital-Pre and post bonus | Paid up equity share capital as on the date of this letteris Rs. 14,28,52,640/- consisting of 1,42,85,264 equityshares of Rs. 10/-each. | |
| issue | Post-bonus issue | ||
| Paid up equity share capital shall be Rs. 28,57,05,280/-consisting of 2,85,70,528 equity shares of Rs. 10/-each. | |||
| 7 | and/orshare premiumFreereserverequired for implementing the bonus issue | Securities premium of Rs. 14,28,52,640/- will beutilised for implementing the bonus issue. | |
| 8 | Free reserve and/or share premiumavailable for capitalisation and the date ason which such balance is available | Reserve & Surplus:As on March 31, 2021, the balance of Rs. 23749.05/-lakhs is available in Reserve & Surplus | |
| $\overline{0}$ | Whether the aforesaid figures are audited | Yes, the figures provided are audited. | |
| 10 | Estimated date by which such bonus shareswould be credited/dispatched: | Within 60 days from the date of Board's approval i.e.by July 31, 2021. |
CIN No. - L23201DL2001PLC174076
Unit 1 - Khasra 265, 281-283, Parsaun-Dasna, Jindal Nagar, Distt Hapur-201313 Unit 2- Khasra 1184,1185, Khera, Pilkhuwa, Tehsil Dhaulana, Distt. Hapur-245304 Unit 3- Khasra 686/6, Khera, Pilkhuwa, Tehsil Dhaulana, Distt. Hapur-245304 Office-KL-46, Kavi Nagar, Ghaziabad-201002
Regd Office-E-20, South Extension 1, New Delhi-110049
Fax: +91 11 45823834
+91 120 654 6670
$\bowtie$
$\bullet$
[email protected] [email protected]
+91 8938802180, 7351991000
篇
ARUN NARESH & CO.
Chartered Accountants
INDEPENDENT AUDITOR'S REPORT
TO THE BOARD OF DIRECTORS OF M/s Salasar Techno Engineering Ltd
Report on the audit of the Consolidated Financial Results Opinion
We have audited the accompanying Statement of Consolidated Financial Results of M/s Salasar Techno Engineering Ltd ("Parent company") and its subsidiaries (Collectively "the Group"), its associates and Jointly Controlled entities for the quarter ended $31st$ March 2021 and for the y e a r e n d e d $31st$ M 2021 ("the Statement"), being submitted by the Parent company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 31st March 2021, as reported in these financial results have been approved by the Parent company's Board of Directors, but have not been subjected to audit.
In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on separate financial statements/ financial information of subsidiaries, associates and jointly controlled entities, the Statement:
- includes the results of the following entities:a.
- i. The Holding Company :-
- Salasar Techno Engineering Limited
- Subsidiary entity :-
ii.
- Salasar HPL JV
- Salasar REW JV
- Salasar Adorus Infra LLP
- **Jointly Controlled Entities :**iii.
- Sikka Salasar JV
- is presented in accordance with the requirements of Regulation 33 of the Listing Regulations, as b. amended; and
- gives a true and fair view, in conformity with the applicable accounting standards, and other accounting $\mathsf{C}$ . principles generally accepted in India, of consolidated Net Profit and total comprehensive income and other financial information of the Group for the quarter ended and for the year ended 31st March 2021.
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 (the Act). 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 Group, its associates and jointly controlled entities 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 obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.
$\mathbf{1}$
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 consolidated financial statements.
The Parent Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group including its associates and jointly controlled entities in accordance with the recognition and measurement principles laid down in applicable Indian Accounting Standard 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. The respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its associates and jointly controlled entities 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 the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Parent Company, as aforesaid.
In preparing the consolidated financial results, the respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities are responsible for assessing the ability of the Group and of its associates and jointly controlled entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities are responsible for overseeing the financial reporting process of the Group and of its associates and jointly controlled entities.
Auditor's Responsibilities for the Audit of the Consolidated Financial Results
Our objectives are to obtain reasonable assurance about whether the consolidated 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 consolidated 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 or 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. Under Section $143(3)(i)$ of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates $\bullet$ 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 ability of the Group and its associates and jointly controlled entities 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 Group and its associates and jointly controlled entities to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the consolidated financial results, including the $\bullet$ disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the $\bullet$ entities within the Group and its associates and jointly controlled entities to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated Financial Results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
We communicate with those charged with governance of the Parent Company 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.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
Other Matters
The consolidated Financial Results include the audited Financial Results of subsidiaries and jointly controlled entities, whose Financial Statements reflect Group's share of total assets of Rs. 2709.89 lacs as at 31st March 2021, Group's share of total revenue of Rs.1356.18 lacs and Rs. 3020.07 lacs and Group's share of total net Profit after tax of Rs.33.49 lacs and profit of Rs.56.17 lacs for the quarter and year ended 31st March 2021 respectively, as considered in the consolidated Financial Results, which have been audited by their respective independent auditors. The independent auditors' reports on financial statements of these entities have been furnished to us and our opinion on the consolidated Financial Results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above.
Our opinion on the consolidated Financial Results is not modified in respect of the above matters.
The statement includes the results for the quarter ended 31st March 2021 being the balancing figure between audited figures in respect of full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.
For ARUN NARESH & COMPANY
Chartered Accountan unber: 007127N ICAI Firm Regist
Arun Kuma Partner Membership Number: 084598
Place: Ghaziabad (U.P.) Date: June 01, 2021
UDIN- 21084598 AAAACO 3096
SALASAR TECHNO ENGINEERING LIMITED
Regd Office: E-20, South Extension-I, New Delhi -110049
Telephone No. (011) 41648577 Email: [email protected] Website: www.salasartechno.com CIN: L23201DL2001PLC174076
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021 $\overline{z}$ in Iskh)
| Year ended | ן זווי גם (ר | |||||
|---|---|---|---|---|---|---|
| Particulars | Quarter ended | 31-Mar-21 | ||||
| 31-Mar-21 | 31-Dec-20(Unaudited) (Unaudited) (Unaudited) | 31-Mar-20 | (Audited) | 31-Mar-20(Audited) | ||
| 1 Income from operations | 21,150.17 | 17,436.22 | 10,861.96 | 59,658.77 | 52,625.13 | |
| 2 | Other Income | 501.07 | 337.53 | 94.69 | 1,015.04 | 171.29 |
| 3 | Total Income $(1 + 2)$ | 21,651.23 | 17,773.75 | 10,956.65 | 60,673.80 | 52,796.42 |
| 4 Expenses | ||||||
| Cost of revenue from operations | 16,701.70 | 14,776.67 | 9,336.90 | 48,665.12 | 39,758.21 | |
| Changes in Inventories of Finished goods, | ||||||
| Work-in-progress and others | 182.36 | (1,261.39) | (1,266.10) | (1,365.16) | 1,750.69 | |
| Employee benefits expenses | 983.99 | 814.99 | 983.66 | 3,090.12 | 3,103.15 | |
| Finance costs | 537.86 | 450.99 | 464.70 | 1,764.53 | 2,057.32 | |
| Depreciation and amortization expenses | 147.42 | 140.23 | 128.06 | 562.28 | 499.19 | |
| 1,357.84 | 1,316.37 | 844.18 | 3,570.83 | 2,833.01 | ||
| Other ExpensesTotal Expenses | 19,911.17 | 16,237.87 | 10,491.41 | 56,287.73 | 50,001.57 | |
| 5 Profit before exceptional items & tax (3-4) | 1,740.07 | 1,535.88 | 465.24 | 4,386.08 | 2,794.85 | |
| 6 | Exceptional Items | |||||
| 7 | Profit before Tax (5-6) | 1,740.07 | 1,535.88 | 465.24 | 4,386.08 | 2,794.85 |
| 8 Tax Expenses | ||||||
| Current Tax | 686.30 | 298.40 | 142.29 | 1,210.09 | 736.92 | |
| Deferred Tax | 67.79 | 70.80 | (51.46) | 186.09 | (179.76) | |
| 9 Net Profit for the period / year (7-8) | 985.98 | 1,166.68 | 374.42 | 2,989.90 | 2,237.69 | |
| Other Comprehensive Income (after tax) | 12.21 | (66.62) | 12.21 | (66.62) | ||
| 10 Total Comprehensive Income (after tax) | 998.20 | 1,166.68 | 307.79 | 3,002.11 | 2,171.06 | |
| 11 Net Profit attributable to:Owners of the Company | 968.67 | 1,158.75 | 374.42 | 2,964.66 | 2,237.69 | |
| Non-Controlling Interest | 17.31 | 7.93 | 25.24 | |||
| 985.98 | 1,166.68 | 374.42 | 2,989.90 | 2,237.69 | ||
| 12 Other Comprehensive Income attributable to: | ||||||
| Owners of the Company | 12.21 | (66.62) | 12.21 | (66.62) | ||
| Non-Controlling Interest | ||||||
| 12.21 | (66.62) | 12.21 | (66.62) | |||
| 13 Total Comprehensive Income attributable to: | ||||||
| Owners of the Company | 980.89 | 1,158.75 | 307.79 | 2,976.87 | 2,171.06 | |
| Non-Controlling Interest | 17.31 | 7.93 | 25.24 | |||
| 998.20 | 1,166.68 | 307.79 | 3,002.11 | 2,171.06 | ||
| 14 Paid up Equity Share Capital | 1,428.53 | 1,328.53 | 1,328.53 | 1,428.53 | 1,328.53 | |
| (Face Value : ₹10 per Share) | ||||||
| 15 Other Equity excluding Revaluation Reserves | N.A. | N.A. | N.A. | 23,840.25 | 19,386.23 | |
| 16 Earnings per equity share | ||||||
| Basic and Diluted (₹) | 7.24 | 8.72 | 2.82 | 22.15 | 16.84 |
| Consolidated Segmentwise Revenue, Results, Assets and Liabilities | |||||
|---|---|---|---|---|---|
| Particulars | Quarter ended | ||||
| 31-Mar-21 | 31-Dec-20 | 31-Mar-21 | |||
| (Unaudited) (Unaudited) | (Audited) | ||||
| $\mathbf{1}$ | Segment Revenue | ||||
| a. Steel Structures | 15,155.08 | 14,182.88 | 46,864.32 | ||
| b. EPC Projects | 7,553.50 | 4,060.75 | 18,464.25 | ||
| c. Unallocated Segment | |||||
| 22,708.58 | 18,243.63 | 65,328.58 | |||
| Less: Inter Segment Revenue | 1,558.41 | 807.40 | 5,669.81 | ||
| Total Revenue from Operations | 21,150.17 | 17,436.22 | 59,658.77 | ||
| 2 | Segment Results | ||||
| a. Steel Structures | 1,232.75 | 1,950.19 | 5,013.27 | ||
| b. EPC Projects | 1,028.46 | 6.94 | 1,481.66 | ||
| Total Segment Results | 2,261.21 | 1,957.13 | 6,494.93 | ||
| Less: | |||||
| Finance costs(i) | 532.60 | 450.99 | 1,759.27 | ||
| (ii) Net unallocated expenditure/(income) | (11.46) | (29.74) | 349.58 | ||
| Total Profit Before Tax | 1,740.07 | 1,535.88 | 4,386.08 | ||
| 3 Segment Assets | |||||
| a. Steel Structures | 32,596.02 | 31,134.25 | 32,596.02 | ||
| b. EPC Projects | 19,235.34 | 16,562.99 | 19,235.34 | ||
| Total Segment Assets | 51,831.36 | 47,697.23 | 51,831.36 | ||
| Add: Unallocated | 3,510.80 | 3,668.88 | 3,510.80 | ||
| Total Assets | 55,342.16 | 51,366.11 | 55,342.16 | ||
| 4 | Segment Liabilities | ||||
| a. Steel Structures | 4,744.14 | 4,807.49 | 4,744.14 | ||
| b. EPC Projects | 4,223.64 | 3,636.29 | 4,223.64 | ||
| Total Segment Liabilities | 8,967.78 | 8,443.78 | 8,967.78 | ||
| Add: Unallocated | 21,074.99 | 19,908.53 | 21,074.99 | ||
| Total Liabilities | 30,042.76 | 28,352.31 | 30,042.76 |
Notes:
- 1 The above audited Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 01 -June -2021. These results have been audited by the Statutory Auditor of the Company who has issued an unqualified opinion thereon.
- 2 These audited Consolidated Financial Results are prepared in accordance with the Indian Accounting Standards (IND AS) as prescribed under Section 133 of the Companies Act read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.
- 3 Figures for the quarter ended 31 March, 2021 and the corresponding quarter ended in the previous year as reported in these financial results are the balancing figures between audited figures in 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 subjected to audit.
- 4 The Board of Directors has recommended the Bonus Issue of Equity Shares in the proportion of 1:1 i.e. 1 (One) Equity Share of Rs. 10/- each for every 1 (One) Equity Share of Rs. 10/- each held by the shareholders of the Company as on the record date, which is subject to approval of shareholders.
- 5 The Board of Directors has recommended a final dividend of 10.00% (₹ 1.00 per share) for the financial year 2020-21, which is subject to approval of shareholders.
- 6 The Board of Directors approved the increase in Authorized Share Capital of the company from Rs. 20,50,00,000/- (Rupees Twenty Crores Fifty Lakh only) divided into 2,05,00,000 (Two Crores Five Lakhs only) equity shares of Rs. 10/- each to Rs. 31,50,00,000/- (Rupees Thirty One Crores Fifty Lakh only) divided into 3,15,00,000 (Three Crores Fifteen Lakh only) equity shares of Rs. 10/- each subject to approval of shareholders through Postal Ballot.
- 7 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.
- 8 The Company has evaluated the impact of COVID pandemic on the operations of the Company, revenue, inventories, investments, property, plant & equipment, current borrowings and trade payables. The management has considered the possible effects, if any, on the carrying amounts of these assets and liabilties up to the date of approval of these results. As per the management's current assessment, no significant impact on carrying amounts of inventories, tangible assets, trade receivables, investments and other financial assets is expected, and management continue to monitor changes in future economic conditions. The company values its Inventory of Finished Goods at lower of cost and Net realisable value. The Net realisable value of all the inventories of the company is higher than their cost based on subsequent sales taken place till date and their present market prices. Hence there is no impairment risk in the inventory.
- 9 The Company is engaged in the business of two segments i.e. 1) Manufacturing of Galvanized and Nongalvanized Steel Structures i.e. Steel structure and 2) Engineering, Procurement and Construction (EPC). Figures for the previous year could not be restated segment wise as records and information for seprate segments are not available and cost to develop it would be quite expensive.
- 10 Figures for the previous periods / year have been regrouped, subject to Note -8 above, wherever necessary, to confirm to the current period's classification.
- 11 The Consolidated Financial Results for the Quarter and Year ended March 31, 2021 are available on the website of the Company (www.salasartechno.com) and on Stock Exchanges website (www.bseindia.com and www.nseindia.com).
For and on behalf of SALASAR TECHNO ENGINEERING HMITED
ALOK KUMAR Chairman and Managing Director * DIN: 01474484
Date: 01-June- 2021 Place: Hapur (U.P.)
SALASAR TECHNO ENGINEERING LIMITED SALASAR I ECHINO ENGINEERING SHEET AS AT 31ST MARCH, 2021CONSOLIDATED AUDITED BALANCE SHEET AS AT 31ST MARCH, 2021
| (Kin Lakn) | ||
|---|---|---|
| Particular | As at | As at |
| 31-Mar-21 | 31-Mar-20 | |
| ASSETS | ||
| Non-current Assets | ||
| Property, Plant and Equipment | 11,237.61 | 9,108.39 |
| Capital Work-in-Progress | 8.59 | 34.07 |
| Intangible Assets | 27.58 | |
| Financial assets | ||
| Investments(a) | ||
| Other financial asset(b) | 1,540.33 | 1,417.37 |
| Current Assets | ||
| Inventories | 12,002.22 | 9,353.93 |
| Financial Assets | ||
| (a) Investments | 1,019.05 | 140.03 |
| (b) Trade Receivables | 24,009.74 | 21,409.72 |
| (c) Cash and Cash Equivalent | 42.33 | 65.48 |
| (d) Bank Balances other than (c) above | 479.07 | 849.11 |
| (e) Other Financial Assets | 1,466.93 | 1,176.94 |
| Current Tax Assets (Net) | 158.35 | |
| Other Current Assets | 3,508.73 | 1,639.11 |
| TOTAL ASSETS | 55,342.16 | 45,352.50 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity Share Capital | 1,428.53 | 1,328.53 |
| Other Equity | 23,840.25 | 19,386.23 |
| Non-Controlling Interest | 30.63 | |
| Liabilities | ||
| Non-current Liabilities | ||
| Financial Liabilities | ||
| (a) Borrowings | 3,389.16 | 521.60 |
| (b) Other Financial Liabilities | 9.99 | 10.76 |
| 312.88 | 232.53 | |
| ProvisionsDeferred Tax Liabilities (Net) | 497.79 | 307.60 |
| Current Liabilities | ||
| Financial Liabilities | 16,263.94 | 15,905.75 |
| (a) Borrowings | 3,127.12 | 2,144.83 |
| (b) Trade Payables | 175.27 | 59.75 |
| (c) Other Financial Liabilities | 42.39 | 33.71 |
| Provisions | 6,069.32 | 5,421.21 |
| Other Current Liabilities | 154.89 | |
| Current Tax Liability (Net) | 55,342.16 | 45,352.50 |
| TOTAL EQUITY AND LIABILITIES |
SALASAR TECHNO ENGINEERING LIMITED
CONSOLIDATED AUDITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2021
| CONSOLIDATED AUDITED CASH FLOW | (₹ in Lakh) | |
|---|---|---|
| Year ended | ||
| Particulars | 31-Mar-21 | 31-Mar-20 |
| Cash Flow From Operating Activities | ||
| Net Profit Before Income Tax | 4,386.08 | 2,794.85 |
| Adjustment for: | ||
| Depreciation and amortization expenses | 562.28 | 499.19 |
| Dividend income | (1.16) | (2.51) |
| Interest income | (134.77) | (168.27) |
| Finance costs | 1,764.53 | 2,057.32(55.98) |
| Electricity duty refundable | 21.54 | 34.29 |
| Provision for employee benefits expense | 105.36 | 56.84 |
| (Gain)/ loss on fair valuation of assets | (877.45) | |
| Bad debts written off | 334.84 | |
| Provision for doubtful debts | 63.49 | |
| (Gain)/ loss on property, plant and equipment | (0.51) | |
| Gain on sale of current investment | (1.66) | |
| Operating profit before working capital changes | 6,223.09 | 5,215.22 |
| Adjustments for Working Capital | ||
| Adjustment for (increase) / decrease in operating assets | ||
| Inventories | (2,648.29) | 2,439.06 |
| Trade receivables | (2,998.35) | 314.41 |
| Other financial assets | (267.82) | (102.91) |
| Other current assets | (1,711.27) | 930.20 |
| Adjustment for increase / (decrease) in operating assets | ||
| Trade payables | 982.28 | (3,682.05) |
| Other current liabilities | 803.00 | (324.77) |
| Other financial liabilities | 114.75 | (882.40) |
| Other non-current liabilities | (63.15) | |
| Cash generated from operations | 497.39 | 3,843.61 |
| Income Tax Paid | 1,210.09 | 736.92 |
| Net cash generated from operating activities (A) | (712.70) | 3,106.69 |
| Cash Flow from Investing Activities | ||
| Sale (Purchase) of current investments | 0.09 | |
| Interest Income | 112.60 | 142.70 |
| Dividend Income | 1.16 | 2.51 |
| Purchase of property, plant and equipment | (2,693.60) | (1,925.91) |
| Bank Balance (not consider as cash and cash equivalents) | 370.04 | 141.02 |
| Proceeds from sale of property, plant and equipment | 14.47 | |
| Net Cash Flow from other financial assets | (144.50) | (540.93) |
| (2,354.21) | (2, 166.15) | |
| Net cash used in investing activities (B) | ||
| Cash Flow from Financing Activities | 1,710.00 | |
| Proceeds from issue of share capital | 2,867.56 | 32.38 |
| Proceeds from non-current borrowings | 358.19 | 1,367.18 |
| Proceeds from current borrowings | 5.39 | |
| Contribution from Non-controlling interests | (132.85) | (399.91) |
| Dividend Paid (including dividend distribution tax) | (1,764.53) | (2,057.32) |
| Finance Costs | 3,043.76 | (1,057.68) |
| Net Cash Flow from Financing Activities (C) | (23.15) | (117.13) |
| Net Changes in Cash & Cash Equivalents (A + B + C) | 65.48 | 182.61 |
| Add: Opening Cash & Cash Equivalents | 42.33 | 65.48 |
| Closing Cash & Cash Equivalents |
ESSITED TO $E \eta_{q}$ $\mathbb{R}$ $\partial_{\scriptscriptstyle (!\varsigma!)}$ IBS
ARUN NARESH & CO.
KP-1, PITAMPURA New Delhi-110034 Tel/Fax: 011-49879800, 45138005 Email: [email protected] M.No. 9810235005, 9810265005
Chartered Accountants
INDEPENDENT AUDITOR'S REPORT
TO
THE BOARD OF DIRECTORS OF M/S Salasar Techno Engineering Ltd
Report on the audit of the Standalone Financial Results
Opinion
We have audited the accompanying standalone quarterly financial results of quarterly and year to date standalone Financial Results of M/s Salasar Techno Engineering Ltd (the Company) for the quarter ended 31st March 2021 and for the year ended 31st March 2021 (the statement), 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 ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us these standalone financial results :-
- are presented in accordance with the requirements of Regulation 33 of the Listing Regulations i. in this regard; and
- give a true and fair view in conformity with the recognition and measurement principles laid ii. down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information for the quarter and for the year ended 31st March 2021.
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 (the Act). 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 together with the ethical requirements that are relevant to our audit of the financial results 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 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 recognition and measurement principles laid down in applicable Indian Accounting Standards 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 standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial results, 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.
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 standalone 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 standalone 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. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such 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 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 standalone financial results, including the disclosures, and whether the 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.
The standalone statement includes the results for the quarter ended March 31, 2021 being the balancing figure between audited figures in respect of the full financial year ("Standalone Annual Results") and the published year to date unaudited figures up to the third quarter of the current financial year which were subject to limited review by us.
For ARUN NARESH & COMPANY Chartered Accountant RESH ICAI Firm Registration Number, 007127N
Arun Kumar Jain Prered At Partner Membership Number: 084598
Place: Ghaziabad Date: June 01, 2021
UDIN-21084598 AAAACP 45 41
SALASAR TECHNO ENGINEERING LIMITED
Regd Office: E-20, South Extension-I, New Delhi -110049
Website: www.salasartechno.com Telephone No. (011) 41648577 Email: [email protected]
CIN: L23201DL2001PLC174076
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH, 2021
| (₹ in Lakh) | ||||||
|---|---|---|---|---|---|---|
| Particulars | Quarter ended | Year ended | ||||
| 31-Mar-21 | 31-Dec-20 | 31-Mar-20 | 31-Mar-21 | 31-Mar-20 | ||
| (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | (Audited) | ||
| 1 Income from operations | 20,168.12 | 17,103.33 | 10,861.55 | 58,331.18 | 52,550.78 | |
| 2 Other Income | 501.07 | 337.53 | 94.69 | 1,015.04 | 171.29 | |
| 3 Total Income $(1 + 2)$ | 20,669.19 | 17,440.86 | 10,956.24 | 59,346.22 | 52,722.06 | |
| 4 Expenses | ||||||
| Cost of revenue from operations | 15,885.92 | 14,481.05 | 9,336.90 | 47,553.72 | 39,758.21 | |
| Changes in Inventories of Finished goods, | ||||||
| Work-in-progress and others | 182.36 | (1,261.39) | (1, 266.10) | (1,365.16) | 1,750.69 | |
| Employee benefits expenses | 951.24 | 814.99 | 983.66 | 3,057.36 | 3,103.15 | |
| Finance costs | 532.60 | 450.99 | 464.70 | 1,759.27 | 2,057.32 | |
| Depreciation and amortization expenses | 145.82 | 140.23 | 128.06 | 560.68 | 499.19 | |
| Other Expenses | 1,290.66 | 1,309.75 | 835.68 | 3,476.42 | 2,802.54 | |
| Total Expenses | 18,988.60 | 15,935.63 | 10,482.90 | 55,042.30 | ||
| 5 Profit before exceptional items & tax (3-4) | 1,680.59 | 1,505.23 | 473.34 | 49,971.10 | ||
| 6 Exceptional Items | 4,303.92 | 2,750.96 | ||||
| 7 | Profit before Tax (5-6) | |||||
| 1,680.59 | 1,505.23 | 473.34 | 4,303.92 | 2,750.96 | ||
| 8 | Tax Expenses | |||||
| Current Tax | 667.64 | 291.06 | 147.76 | 1,184.10 | 722.91 | |
| Deferred Tax | 67.79 | 70.80 | (51.46) | 186.09 | (179.76) | |
| 9 Net Profit for the period / year (7-8) | 945.16 | 1,143.36 | 377.04 | 2,933.74 | 2,207.82 | |
| Other Comprehensive Income (after tax) | 12.21 | (66.62) | 12.21 | (66.62) | ||
| 10 Total Comprehensive Income (after tax) | 957.37 | 1,143.36 | 310.42 | 2,945.95 | 2,141.19 | |
| 11 Paid up Equity Share Capital | 1,428.53 | 1,328.53 | 1,328.53 | 1,428.53 | 1,328.53 | |
| (Face Value : ₹10 per Share) | ||||||
| 12 Other Equity excluding Revaluation Reserves | N.A. | N.A. | N.A. | |||
| 13 Earnings per equity share | 23,749.05 | 19,325.96 | ||||
| Basic and Diluted (₹) | 7.06 | 8.61 | 2.84 | 21.92 | 16.62 | |
| Standalone Segmentwise Revenue, Results, Assets and Liabilities | ||||||
| Particulars | Quarter ended | Year ended | ||||
| 31-Mar-21 | 31-Dec-20 | 31-Mar-21 | ||||
| (Unaudited) | (Unaudited) | (Audited) | ||||
| 1 | Segment Revenue | |||||
| a. Steel Structures | 15,155.08 | 14,182.88 | 46,864.32 | |||
| b. EPC Projects | 6,571.45 | 3,727.86 | 17,136.67 | |||
| c. Unallocated Segment | ||||||
| 21,726.53 | 17,910.73 | 64,001.00 | ||||
| Less: Inter Segment Revenue | 1,558.41 | 807.40 | ||||
| Total Revenue from Operations | 20,168.12 | 17,103.33 | 5,669.8158,331.18 | |||
| 2 | Segment Results | |||||
| a. Steel Structures | 1,232.75 | 1,950.19 | 5,013.27 | |||
| b. EPC Projects | 968.99 | (23.71) | 1,399.50 | |||
| Total Segment Results | 2,201.74 | 1,926.48 | 6,412.77 | |||
| Less: | ||||||
| (i) Finance costs | 532.60 | 450.99 | 1,759.27 | |||
| (ii) Net unallocated expenditure/(income) | (11.46) | (29.74) | 349.58 | |||
| Total Profit Before Tax | 1,680.59 | 1,505.23 | 4,303.92 | |||
| 3 Segment Assets | ||||||
| a. Steel Structures | 32,596.02 | 31,134.25 | 32,596.02 | |||
| b. EPC Projects | 18,195.11 | 16,309.47 | 18,195.11 | |||
| Total Segment Assets | 50,791.13 | 47,443.72 | 50,791.13 | |||
| Add: Unallocated | 3,511.29 | 3,715.26 | 3,511.29 | |||
| Total Assets | 54,302.42 | 51,158.98 | 54,302.42 | |||
| 4 Segment Liabilities | ||||||
| a. Steel Structures | 4,744.14 | 4,807.49 | 4,744.14 | |||
| b. EPC Projects | 3,305.71 | 3,458.88 | 3,305.71 | |||
| Total Segment Liabilities | 8,049.86 | 8,266.37 | 8,049.86 | |||
| Add: Unallocated | 21,074.99 | 19,954.91 | 21,074.99 | |||
| Total Liabilities | 29,124.84 | 28,221.28 | 29,124.84 | |||
| EngineerBull |
Peles *
Notes:
- 1 The above audited Standalone Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 01 -June -2021. These results have been audited by the Statutory Auditor of the Company who has issued an unqualified opinion thereon.
- 2 These audited Standalone Financial Results are prepared in accordance with the Indian Accounting Standards (IND AS) as prescribed under Section 133 of the Companies Act read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.
- 3 Figures for the quarter ended 31 March, 2021 and the corresponding quarter ended in the previous year as reported in these financial results are the balancing figures between audited figures in 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 subjected to audit.
- 4 The Board of Directors has recommended the Bonus Issue of Equity Shares in the proportion of 1:1 i.e. 1 (One) Equity Share of Rs. 10/- each for every 1 (One) Equity Share of Rs. 10/- each held by the shareholders of the Company as on the record date, which is subject to approval of shareholders.
- 5 The Board of Directors has recommended a final dividend of 10.00% (₹1.00 per share) for the financial year 2020 21, which is subject to approval of shareholders.
- 6 The Board of Directors approved the increase in Authorized Share Capital of the company from Rs. 20,50,00,000/ (Rupees Twenty Crores Fifty Lakh only) divided into 2,05,00,000 (Two Crores Five Lakhs only) equity shares of Rs. 10/- each to Rs. 31,50,00,000/- (Rupees Thirty One Crores Fifty Lakh only) divided into 3,15,00,000 (Three Crores Fifteen Lakh only) equity shares of Rs. 10/- each subject to approval of shareholders through Postal Ballot.
- 7 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.
- 8 The Company has evaluated the impact of COVID pandemic on the operations of the Company, revenue, inventories, investments, property, plant & equipment, current borrowings and trade payables. The management has considered the possible effects, if any, on the carrying amounts of these assets and liabilties up to the date of approval of these results. As per the management's current assessment, no significant impact on carrying amounts of inventories, tangible assets, trade receivables, investments and other financial assets is expected, and management continue to monitor changes in future economic conditions. The company values its Inventory of Finished Goods at lower of cost and Net realisable value. The Net realisable value of all the inventories of the company is higher than their cost based on subsequent sales taken place till date and their present market prices. Hence there is no impairment risk in the inventory.
- 9 The Company is engaged in the business of two segments i.e. 1) Manufacturing of Galvanized and Nongalvanized Steel Structures i.e. Steel structure and 2) Engineering, Procurement and Construction (EPC). Figures for the previous year could not be restated segment wise as records and information for seprate segments are not available and cost to develop it would be quite expensive.
- 10 Figures for the previous periods / year have been regrouped, subject to Note -9 above, wherever necessary, to confirm to the current period's classification.
- 11 The Audited Standalone Financial Results for the Quarter and Year ended March 31, 2021 are available on the website of the Company (www.salasartechno.com) and on Stock Exchanges website (www.bseindia.com and www.nseindia.com).
Date: 01-June- 2021 Place: Ghaziabad (U.P.)
SALASAR TECHNO ENGINEERING HIVITED ò ALOK KUMAR Chairman and Managing Offector DIN: 01474484
For and on behalf of
SALASAR TECHNO ENGINEERING LIMITED STANDALONE AUDITED BALANCE SHEET AS AT 31ST MARCH, 2021
$\overline{\phantom{a}}$
| (₹ in Lakh) | ||||
|---|---|---|---|---|
| Particulars | As at | As at | ||
| 31-Mar-21 | 31-Mar-20 | |||
| (Audited) | (Audited) | |||
| ASSETS | ||||
| Non-current Assets | ||||
| Property, Plant and Equipment | 11,226.31 | 9,108.39 | ||
| Capital Work-in-Progress | 8.59 | 34.07 | ||
| Intangible Assets | 27.58 | |||
| Financial assets | ||||
| (a)Investments | 6.20 | 0.59 | ||
| (b)Other financial asset | 1,540.21 | 1,417.37 | ||
| Current Assets | ||||
| Inventories | 11,818.34 | 9,353.93 | ||
| Financial Assets | ||||
| (a) Investments | 1,019.05 | 140.03 | ||
| (b) Trade Receivables | 23,491.72 | 21,524.43 | ||
| (c) Cash and Cash Equivalent | 21.40 | 56.73 | ||
| (d) Bank balances other than (c) above | 479.07 | 849.11 | ||
| (e) Other financial assets | 1,401.43 | 1,176.94 | ||
| Current tax assets (Net) | 90.71 | |||
| Other current assets | 3,262.53 | 1,538.42 | ||
| TOTAL ASSETS | 54,302.42 | 45,290.73 | ||
| EQUITY AND LIABILITIES | ||||
| Equity | ||||
| Equity Share Capital | 1,428.53 | 1,328.53 | ||
| Other Equity | 23,749.05 | 19,325.96 | ||
| Liabilities | ||||
| Non-current Liabilities | ||||
| Financial Liabilities | ||||
| (a) Borrowings | 3,059.16 | 521.60 | ||
| (b) Other Financial Liabilities | 9.99 | 10.76 | ||
| Provisions | 312.88 | 232.53 | ||
| Deferred Tax Liabilities (Net) | 497.79 | 307.60 | ||
| Other Non-current Liabilities | ||||
| Current Liabilities | ||||
| Financial Liabilities | ||||
| (a) Borrowings | 16,263.94 | 15,905.75 | ||
| (b) Trade Payables | 2,727.37 | 2,144.83 | ||
| (c) Other Financial Liabilities | 175.27 | 59.75 | ||
| Provisions | 42.39 | 33.71 | ||
| Other Current Liabilities | 5,781.57 | 5,419.71 | ||
| Current Tax Liability (Net) | 254.46 | |||
| TOTAL EQUITY AND LIABILITIES | 54,302.42 | 45,290.73 |
CONTROLLING BUSINESS $\mathbb{R}$
SALASAR TECHNO ENGINEERING LIMITED STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2021
| (₹ in Lakh) | ||
|---|---|---|
| Particulars | Year ended | Year ended |
| 31-Mar-21 | 31-Mar-20 | |
| (Audited) | (Audited) | |
| Cash Flow from Operating Activities | ||
| Profit Before Tax | 4,303.92 | 2,750.96 |
| Adjustment for: | ||
| Depreciation and amortisation expenses | 560.68 | 499.19 |
| Finance costs | 1,759.27 | 2,057.32 |
| Dividend income | (1.16) | (2.51) |
| Interest income | (134.77) | (168.27) |
| (Gain)/ loss on property, plant and equipment | (0.51) | |
| Bad debts written off | 334.84 | |
| Provision for doubtful debts | 63.49 | |
| Electricity duty refundable | (21.54) | (55.98) |
| Provision for employee benefits expense | 105.36 | 34.29 |
| (Gain)/ loss on fair valuation of assets | (877.45) | 56.84 |
| Gain on sale of current investment | (1.66) | |
| Operating profit before working capital changes | 6,090.98 | 5,171.33 |
| Adjustments for working capital | ||
| Adjustment for (increase)/ decrease in operating assets | ||
| Inventories | (2,464.41) | 2,439.06 |
| Trade receivables | (2,365.62) | 136.29 |
| Other financial assets | (202.32) | (102.91) |
| Other current assets | (1,633.39) | 1,098.51 |
| Adjustment for increase/ (decrease) in operating assets | ||
| Trade payables | 582.54 | (3,682.05) |
| Other current liabilities | 616.32 | (293.63) |
| Other financial liabilities | 114.75 | (882.40) |
| Other non-current liabilities | (63.15) | |
| Cash generated from operations | 738.86 | 3,821.05 |
| Income Tax Paid | 1,184.10 | 722.91 |
| Net cash generated from operating activities (A) | (445.24) | 3,098.14 |
| Cash Flow from Investing Activities | ||
| Sale (purchase) of current investments | 0.09 | |
| Interest Income | 112.60 | 142.70 |
| Investment in Joint Ventures | 1.16 | 2.51 |
| Investment in LLP | (0.51) | |
| Dividend income | (5.10) | |
| Purchase of property, plant and equipment | (2,680.70) | (1,925.91) |
| Bank balance (not consider as cash and cash equivalents) | 370.04 | 141.02 |
| Proceeds from sale of property, plant and equipment | 14.47 | |
| Net Cash Flow from other financial assets | (101.30) | (540.93) |
| Net cash used in investing activities (B) | (2,303.72) | (2, 166.15) |
| Cash Flow from Financing Activities | ||
| Proceeds from issue of share capital | 1,710.00 | |
| Proceeds from non-current borrowings | 2,537.56 | 32.38 |
| Proceeds from current borrowings | 358.19 | 1,367.18 |
| Dividend paid (including dividend distribution tax) | (132.85) | (399.91) |
| Finance costs | (1,759.27) | (2,057.32) |
| Net Cash Flow from Financing Activities (C) | 2,713.62 | (1,057.68) |
| Net Changes in Cash & Cash Equivalents (A + B + C) | (35.34) | (125.68) |
| Add: Opening Cash & Cash Equivalents | 56.73 | 182.42 |
| Closing Cash & Cash Equivalents | 21.40 | 56.73 |
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