Salzer Electronics Ltd. — Interim / Quarterly Report 2019

Aug 10, 2019

SALZER ELECTRONICS LTD. EEIZEF'

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August 10, 2019

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^I Floor, New Trading Ring, Rotunda Building PJIuwers, Dalal Street, Fort, Mumbal - 400 001. SERIP CODE: 517059

M/st National Stock Exchange at india mi, TIONSHIP FT 3;: satin" Kw" DE Exchange Plazz.C»1, Block G, EandraKulla Complex Sandra lE),Mumbai-ADO 051 Tel1491 22 26598235/35, 26598346 Symbol: sALzERElEC

Dear Sirs,

siib : Outcome cf the ward Mull":

Ref: our letter dated July 0L zine

Thls is to lniorrn in terms oi Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation ²⁰¹⁵ ("SEBI wok Regulations") and in iurtherance to our letter refevred above that the Board of Dlrutors of the campany at their meeting held mday (August 10,2015) considered and approved unaudited Flnarltial Results ol the company for the first quaner ended 30/06/2019 mgemer with tne limited Review report ol M/s. Swamy and Ravi, Chartered Aecountant & Statutory Auditor of the Company as required under Regulation 33 of SEBI LODR Regulations,

Enclosed hmwim the approved Un-nudited Financial Results for the first quarter ending solos/2019 along with the Limited Review Report of the statutory auditor for your records and dissemination to the stakenndlrs. A copy of the same will be uploaded in the Company's webstt! www.§alzergmug.nel.

Further, Pursuam to Regulation 47 of SEBl lODR Regulations An extract of the atnresaid linaneral results in the manner prescribed under the SEBI Listing Regulations wlll be published in English and Tamil newspapers wirhlrl time stipulated

The Meeting commenced at 10.39 mm and closed at ^{l l} it Aa.m

Mav kindly be atknowledged the receipt

Thanking you Vours iaithlully Far salzer Electronics Limited

'Sfiaskarasuhramanlin Director (Corporate Aiiairsl & Cumpany Secretary (om: 00003152 & tcsmaos)

EMI :As above

Semidhettipalayarn. Coimbatore - 641 047, India Phone : + + at 422 4233500 Fax ^{i e} . ^{91 422 2692170} Email : selzeraseizergroupmm Weosiie wwwsalzeigroup com

CIN: L03210TZ1985PLC001535
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				Rs. In Lacs except for per share data
		Quarter ended			Year ended
	Particulars	30-06-2019	31-03-2019	30-06-2018	31-03-2019
		Un-Audited	Refer Note No.V	Un-Audited	Audited
1	Income
ä.	Revenue From Operations	16,214.45	15,503.85	12,646.83	55,976.62
Ь.	Other Income	67.37	27.18	15.63	70.70
	Total Income	16,281.82	15,531.03	12,662.46	56,047.32
Ш	EXPENSES
ä.	Cost of materials consumed	13,022.58	10,884.56	10,127.68	41,933.48
b.	Changes in inventories of finished goods, work-in-progress and stock-in-trade	$-371.33$	874.23	$-519.93$	$-52.18$
č.	Employee benefit expenses	632.57	469.85	519.62	2,489.37
d.	Finance Cost	532.74	555.11	467.60	1,988.47
e.	Depreciation and amortisation expense	347.11	241.27	310.78	1,215.96
f.	Other expenses	1,262.80	1,588.44	1,122.16	5,241.38
	TOTAL EXPENSES	15,426.47	14,613.46	12,027.91	52,816.48
HI.	PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX	855.35	917.57	634.55	3,230.84
IV	Exceptional items		$\Omega$
v	PROFIT BEFORE TAX	855.35	917.57	634.55	3,230.84
a.	Current Tax	238.21	166.25	136.75	743.09
b.	Deferred Tax	37.10	$-87.55$	43.40	92.01
VI	PROFIT AFTER TAX	580.04	838.87	454.40	2,395.74
VII	OTHER COMPREHENSIVE INCOME
VIII	Items that will not be reclassified to profit or loss	$-4.60$	18.72	$-12.37$	$-18.39$
IX	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	575.44	857.59	442.03	2,377.35
Χ	Paid up share capital - equity shares of Rs.10/- each	1,598.27	1,598.27	1,562.37	1,598.27
XI	Reserves and Surplus (Other Equity)	$\overline{\phantom{a}}$		ŵ	27,101.18
XII.	EARNINGS PER SHARE
ä.	Basic after exceptional items (in Rs.)	3.63	5.28	2.98	15.21
ь.	Diluted after exceptional items (in Rs.)	3.63	5.27	2.91	15.10

Statement of Un-Audited Financial Results for the First Quarter ended June 30, 2019

Date: August 10, 2019 Place : Coimbatore

For Salzer Electronics Limited

(Sd/-)N.Rangachary Chairman (DIN: 00054437)

Samichettipalayam, Coimbatore - 641 047, India. Phone: ++91 422 4233600 Fax: ++91 422 2692170 E-mail: salzer@salzergroup.com Website: www.salzergroup.com

SALZER ELECTRONICS LTD.

CIN: L03210TZ1985PLC001535

Notes forming part of above results

• $1)$ The Company operates in only one segment viz., Electrical installation products;
• $\mathbf{ii}$ The above Un-audited financial results were duly reviewed by the Audit Committee at , its meeting held on August 09,2019 and were taken on record and approved by the Board of Directors at their meeting held on August 10,2019 along with the Limited Review Report issued by the Statutory Auditor on Financial Results for First quarter Period ending June 30,2019.
• The Company acquired 72.32% Equity stake from Universal Trustees Private Limited, Promoter of Kaycee iii Industries Limited under on July 11,2019 in pursuance of Share Purchase and Transfer of Control Agreement dated May 24, 2019 executed by and between Salzer Electronics Limited, Mrs. Raju Grover, Ms. Aarti Grover, 2015 Grover Family Trust (acting through Universal Trustees Private Limited) and Kaycee Industries Limited and upon which, Kaycee Industries Limited effectively has become subsidiary to Salzer Electronics Limited on July 11,2019. Accordingly, Submission of the consolidation of the financial results would arise only from H1FY20 and Q2FY20 onwards;
• In pursuance of Regulation 3(1) & 4 of SEBI (Substantial Acquisition of shares and Takeover) $iv)$ Regulation 2011, the Company has already made the public announcement to the shareholders of Kaycee Industries Limited for acquisition of shares through Open Offer which is under process;
• $V)$ The Figures for the quarter ended March 31, 2019 are the balancing figures between the audited figures in respect of the full financial years and the published year to date figures upto the third quarter of the Financial year 2018-19;
• Previous period figures have been regrouped / reclassified wherever necessary to confirm to $v(i)$ current period's presentation.

For SALZER ELECTRONICS LIMITED

N.RANGACHARY CHAIRMAN (DIN: 0054437)

Coimbatore - 641 047. August 10, 2019

Samichettipalayam, Coimbatore - 641 047, India. Phone: ++91 422 4233600 Fax: ++91 422 2692170 E-mail: salzer@salzergroup.com Website: www.salzergroup.com Swamy & Ravi CHARTERED ACCOUNTANTS 90. Co-Operative "A" Colony, K.K. Pudur, Coimbatore - 641 038. Ph: 0422 - 2446537, 4384536 E-mail: sr cas2004@yahoo.co.in

Ref. No.:

$to|8|2019$ Date:

LIMITED REVIEW REPORT ON THE UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2019 PURSUANT TO REGULATION 33 OF SEBI (LISTING OBLIGATION AND DISCLOSURE REQUIREMENTS) REGULATIONS

To

×5

The Board of Directors, Salzer Electronics Limited.

1. We have reviewed the accompanying Statement of Unaudited Financial Results of SALZER ELECTRONICS LIMITED ("the Company") for the Quarter ended June 30, 2019 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure modified by Circular No. Regulations, 2015, as Requirements) CIR/CFD/FAC/62/2016 dated July 5, 2016.

This Statement which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

1. 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 the Company's personnel 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 specified under section 143(10) of the Companies Act, 2013 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.

Branch : B-001- Sraddha Gardenia Apartments, Rahath Bagh, Sir C.V. Raman Nagar, Bengalure - 560 0930 080 - 41657514, Mob : 95382 08148 405-B, Kasthuri Dhama Apartment, 9th Cross, 8th Main, Malleswaran, Bangalore - 560 003. @ 080 - 23341957

Swamy & Ravi CHARTERED ACCOUNTANTS 90, Co-Openflve "A" Colony, K.K. Pudw, Colmbawre , MI 038. Ph : 0421 ^~ 2446537, 43845315 E-mzll : sr}§2004@yahoo.(u.ln

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1. Based on our review conducted as stated above, nothing has come m 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 Accountlng 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 SEBIlLlSiing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. ClR/CFD/FAC/GZ/ZOiS dated July 5, 2016, including the manner in which it IS to be disclosed, or that it contains any material misstatement.

FurSwamy 8t Ravi Chartered Accountants FR N. 0043 175

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SMAMELU Partner M.ND.223555

Plac Calmbatare Date August 10, 2019 UDIN: laglzfiflfifl"no? rig»: