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Sandhar Technologies Limited Interim / Quarterly Report 2021
60876_rns_2021-11-12_579f437c-9122-4f83-9c5f-24be98d63645.pdf
Interim / Quarterly Report
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Ref- STL I REG-30&33 I Outcome-BM /BSE I NSE I 2021-2022/89
Dated: 12th November, 2021
To, Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mwnbai - 400 001
To, Listing Department, National Stock Exchange of India Limited C-1, G-Block, Bandra-Kurla Complex Bandra, (E), Mumbai - 400 051
BSE Code: 541163; NSE: SANDHAR
Dear Sir/ Madam,
Sub: Outcome ofBoard Meeting
Ref: Regulation 30 (read with Part A of Schedule Ill) and Regulation 33 of the EBI (Listing Obligations and Di clo ure Rcguit· m 11ts) Regulations, 2015 ("Listing Regulations")
Pursuant to Regulation 30 (read with Part A of Schedule III) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we are pleased to inform you that the Board ofDirectors ofthe Company, at its meeting held today i.e;, on the 12th of November, 2021, which commenced at 11 :30 A.M. and concluded at 2:00 P.M. considered and approved, inter alia, the following items ofbusiness:
I. Un-Audited Standalone & Consolidated Financial Results of the Company, for t.he Quarter and · Half Year ended on the 30th September, 2021, as recommended by the Audit Committee and the Statutory Auditors have carried out a 'Limited Review' for the same.
Further, pursuant to the Regulation 33 of the Listing Regulations, we enclose herewith a copy of the Un-Audited Standalone & Consolidated Financial Results and Limited Review Reports issued by the Statutory Auditors of the Company as "Auuexure- A",
-
- The proposal for the striking off the name of the following Companies:
- (a) Sandhar Daeshin Auto Systems Private Limited (S0:50 Joint Venture ofDaeshin Machinery Ind. Co. Ltd. and Sandhar Technologies Limited)
- (b) Sandhar Strategic Systems Private Limited (Subsidiary of Sandhar Technologies Limited)
In compliance with regulation 46(2) of the SEDI (Listing Obligatio11s and Disclosure Requirements) Regulations, 2015, the above information will be made available on the Company's website www.sandhargroup.com
Sandhar Technologies Limited
You are requested to take note of the same.
Thanking you,
Yours Faithfully,
ogies Limited J om I .m,7 Company Secretary & Compliance Officer
Encl.: As above
Sandbar Technologies Limited
Corporate Office : 13, Sedor-44, Gurugram-122002, Haryana, India. Ph: +91-l 24-4518900 Registered Office: B-6/20, Local Shopping Complex, Safdarjung Enclave, New Delhi- 110029, India, Ph:+91-11-40511800 Email - [email protected]; website -www.sandhargroup.com; CIN - L7 49990Ll 987PLC029553
Sandbar Technologies Limited CIN: L74999DL1987PLC029553
Regd. Office: B - 6/20, L.S.C. Safdarjung Enclave, New Delhi 110029
Tel: 0124 - 4518900, E-mail: in [email protected], Website : www.sandharg roup.com
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2021 Standalone Cf in lakhs, except per equity share data) Sr No. Parricubrs Qu:lrt�r onded Six months ended Year ended 30 September 2021 30 June 2021 30 September 2020 30 September 2021 30 September 2020 31 March 2021 Un-audited Un-audited Un-audited Un-audited Un-audited Audited 1 Revenue from operations 53,636.15 31,767 40 42,648 76 85,403.55 52,584 52 1,58,530,80 2 Other income 168 99 137 20 302.04 306.19 366 78 939.33 3 Total income (1+2) 53.805.14 31.904.60 42,950.80 85,709.74 52,95L30 1,59,470.13 4 Expenses (a) Cost of materials consumed 35,939 70 21,005 24 27,570 53 56,944.94 33,571 51 1,01,910.72 (h) Changes in inventories of finished goods and work-in-progress (126.08) (329.92) (350.95) (456.00) 75.43 (54.98) (c) Employee benefits expense 6,302.54 4,823 56 5,593.70 11,126.10 8,582 01 20,887.08 (d) Finance costs 167.83 199 58 271.01 367.41 412 81 909.43 (e) Depreciation and amortization expense 1,820.56 1,750 06 1,744.84 3,570.62 3,299.35 6,857.01 (f) Other expenses 6,533.61 4,321 35 5,488 46 10,854 96 7,161.87 20,413.15 Total expenses 50.638.16 31,769.87 40,317.59 82,408.03 53.102.98 1,50,922.41 5 Profit/ (Loss) from operations before exceptional item a.ad tax (3-4) 3,166.98 134.73 2,633.21 3,301.71 (15L68) 8,547.72 6 Exceptional item - - - - - - 7 Profit/ (Loss) from operations after exceptional iti:m and before tax (5-6) 3.166.98 134.73 2,633.21 3.301.71 (151.68) 8.547.72 8 Tax expenses (a) Current tax 942.07 34.70 704.18 976,77 (47.26) 2,013.92 (h) Deferred tax (credit)/charge (144.44) 1.10 (29.78) (143.34) 18.50 10.60 Total tax expenses 797.63 35.80 674.40 833.43 /28.76) 2,024.52 9 Net profit/ (loss) after tax (7-8) 2,369.35 98.93 1.958.81 2.468.28 /122.92) 6,523.20 10 Other comprehensive income a) Items that will not be reclassified to the st2tem.e::ut of profit and loss i) Gain/ (Loss) on remeasurement of defined benefit obligation (14.61) (135.00) /225.12) (149.61) /156.94' /534.80) ii) Income tax relating to the above 3 68 33.98 56 66 37.66 39,50 134.60 Total other comprehensive income for the period/ "!'ear (a (i+ii)) 110.93) (101.021 (168.46) (111.95) (117.441 (400.201 11 Total comprehensive income for the period/ year (9+10, 2.358.42 (2.09) 1,79035 2,356.33 (240.36) 6,123.00 12 Paid up equity share capital (Face value of Rs 10/-per share) 6,019.07 6.019.07 6.019.07 6.019.07 6.019.07 6,019.07 13Reserve excluding Revaluation Reserves - - - - - 74,654.97 14 Earnings Per Share (EPS) (Face value of Rs 10/-per share) (not annualised for quarter/ half year) (a) Basic 3.94 0.16 3.26 4.10 /0.20) 10.84 (h) Diluted 3.94 0.16 3.26 4.10 /0.201 10.84
Notes:
The above statement of unaudited standalone financial rt::sults ('the Statement') for the quarter and six months ended 30 September 2021, has been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 12 November 2021. The same along with the report of the Statum,y auditor has been filed with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and also available on the Company's website at www.sandhargroup.com. The standalone financial results have been prepared in accordance with the recogmtion and measurement principles of the Indian Accounting 3ta.ndards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013.
2 The figures of the previous year/periods have been regrmaped wherever necessary to comply with amendme■ts in Schedule III of the Companies Act, 2013.
3 The Company has incorporated wholly owned subsidia:ry with the name "Sandbar Engineering Private Limit1ed" on 14 October 2021.
4 The Company is engaged in the business of m.aouf.Ktwing of automotive components. There is no sepa=ate rq,ortable business segment as per Ind AS 108 on Operating Segments.
- 5 Management has been continuously evaluating the: possiltlc effects that may result from the pandemic nlating to COVID-19 on the operational and financial results of the Company for the quarter and six months ended on 30 September 2021. The Company has considered and taken into account internal and external information in assessing the I"C:Coverability of financial and non financial assets. Given the uncertainties associated with naru.re, condition and duration of COVID-19, the impact assessment on the Company's financial information will be continuously m:ade and provided for as required.
- 6 The Board of Directors at its Meeting held on 21 May 2021, has recommend a final dividend @ 10% i.e. Rs. 1 per equity share, which has been approved by shareholders in Annual General Meering held on 23 September 2021. The same has been paid.
P�ce: Gurugram D�«d: 12 November 2021
Note:
Sandbar Technologies Limited CIN: L74999DL1987PLC029553
Regd. Office: B - 6/20, L.S.C. Safdarjung Enclave, New Delhi 110029
Tel : 0124 - 4518900, E-mail : [email protected], Website : www.sandhargroup.com
| Standalone | |||||
|---|---|---|---|---|---|
| (f in lakhs, except per equity share data) | |||||
| Sr No. | Particulars | Six months ended | Six months ended | ||
| 30 September 2021 | 30 September 2020 | ||||
| Un-audited | Un-audited | ||||
| A | Cash flows from operating activities | ||||
| Profit before tax | 3,301.71 | (151.68) | |||
| Adjustments for : | |||||
| Depreciation and amortization expense | 3,570.62 | 3,299.35 | |||
| (Profit) on sale of property, plant and equipment | (43.69) | (16.63) | |||
| MTM gain on derivative | (0.09) | (8.43) | |||
| Provision for doubtful debts and advances | - | 12.90 | |||
| Umealised foreign exchange (gain)/loss | (19.45) | 3.29 | |||
| Interest expense | 367.41 | 412.81 | |||
| Interest income on sec-.irity deposits measured at amortised cost | (18.70) | (10.14) | |||
| Gain on investments carried at fair value through profit or loss | (12.35) | (32.41) | |||
| Interest income | |||||
| (86.79) | (65.46) | ||||
| Dividend income | (23.98) | (23.98) | |||
| Operating profit before worki•g capital changes | 7,034.69 | 3,419.62 | |||
| Movements in working capital:(Increase) in trade receivables | |||||
| (2,185.05) | (10,560.15) | ||||
| Decrease/(lncrease) in inventories | (1,754.78) | 227.97 | |||
| Decrease/(Increase) in current financial assets, inducing assets held for �e | (191.82) | 169.12 | |||
| (Increase)/ Decrease in other current assets | (266.00) | 102.81 | |||
| Increase/(Decrease) in trade payables | (1,738.71) | 9,442.93 | |||
| (Decrease) in current provisions | (90.54) | (46.90) | |||
| Increase in other financial liabilities | 76.87 | 388.13 | |||
| Increase/(Decrease) in other current liabilities | (519.88) | 653.80 | |||
| Total movement in working capital: | (6,669.91) | 377.71 | |||
| 364.78 | 3,797.33 | ||||
| Cash generated from operatioas | |||||
| Income tax paid (net of ref■lllb) | 1,347.27(982.49) | 745.603,051.73 | |||
| Net cash (used in)/ generated from operating activities (A) | |||||
| B | Cash flow from investing activities: | ||||
| Purchase of Property, plant and equipment, Capital work in progress, other intangible assets and capital | |||||
| advances | (3,737.67) | (1,455.87) | |||
| Proceeds from sale of property, plant and equipment | 178.01 | 26.11 | |||
| Purchase of non-current investment in joint ventures | (186.03) | (657.25) | |||
| Purchase of non-current investment in other corporates | - | (300.82) | |||
| Redemption/(Incre-ase) of Bank deposits (having orig:nal maturity ofmorc: than 3 months) | 0.05 | (2.34) | |||
| Dividend income | 23.98 | 23.98 | |||
| Interest received | |||||
| 103.30 | 72.19 | ||||
| Net cash used in investing acmities (B) | (3,618.36) | (2,294.00) | |||
| C | Cash flow from financing acfuities: | ||||
| Repayment oflong-term borrowings | (12.38) | ||||
| Proceeds from short-term borrowings (net) | (17.40) | ||||
| Payment oflease liabilities | 6,010.09 | 204.65 | |||
| (410.64) | (370.53) | ||||
| Dividend paid duri,g fae year (including dividend distribution tax) | (601.91) | (451.43) | |||
| Interest paid | (343.62) | (397.78) | |||
| Net cash generated from/ (uMd in) financin_g activities ('C) | 4,641.54 | (1,032.49) | |||
| Net increase/(decrease) in Cash and cash equivalents (A+B+C) | 40.69 | (274.76) | |||
| Add: Cash and cash equivalents as at the beginning of year | 87.35 | 299.50 | |||
The above statement of Cash Flows has been prepared under the 'Indirect Method' as set out in INDAS 7 'Statement of Cash Flows',
Sandbar Technologies Limited SANDHAR CIN: L74999DL1987PLC029553
Growlh Mol11t-l1IIOO Sellet' Lire Regd. Office: B - 6/20, LS.C. Safdarjung Enclave, New Delhi 110029
Tel: 0124 - 4518900, E-mail: [email protected], Website: www.sandhargroup.com
| STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2021 | |||||||
|---|---|---|---|---|---|---|---|
| Consolidated(t in lakhs, except per equity share data) | |||||||
| Sr No. | PartkulacsQunncr ended | ||||||
| 30 September 2021 | 30 June 2021 | 30 September 2020 | 30 September 2021 | Six months ended30 September 2020 | Year ended31 March 2021 | ||
| Un-audited | Un-audited | Un-audited | Un-audited | Un-audited | Audited | ||
| l | Revenue from operations | 61,833.86 | 41,007 32 | 49,923.40 | 1,02,841 18 | 62,849 35 | 1,86,356 51 |
| 2 | Other income | 202 26 | 160.11 | 300.58 | 362 37 | 373 77 | 1,077 63 |
| 3 | Total income (1+2) | 62,036.12 | 41,167.43 | 50,223.98 | 1,03,203.55 | 63,223.12 | 1,87,434.14 |
| 4 | Expenses | ||||||
| (a) Cost of materials conswned(b) Changes in inventories of finished goods and work-in-progress | 38,831 51(1,565.01) | 23,869 73(819.03) | 29,196.2832.83 | 62,701.24(2,384 04) | 35,942 22171 68 | 1,09,150 0961 86 | |
| (c) Employee benefits expense | 8,318.39 | 6,952.08 | 7,241.17 | 15,270 47 | 11,386 76 | 27,774 19 | |
| (d) Finance costs | 359.60 | 386.52 | 446.62 | 746.12 | 752 69 | 1,602 06 | |
| (e) Depreciation and amortization expense | 2,469.36 | 2,385.73 | 2,392,55 | 4,855 09 | 4,546 94 | 9,394 78 | |
| ) Other expenses(f | 10,248 72 | 7,896.97 | 7,963.20 | 18,145.69 | 11,136 49 | 30,529 70 | |
| Total expenses | 58,662.57 | 40,672.00 | 47,272.65 | 99,334.57 | 63,936.78 | 478,512.68 | |
| 5 | Profit/ (Loss) from operations before exceptional item, shcre of (profit)/loss of joint venturesand tax (3-4) | 3,373.55 | 495.43 | 2,951.33 | 3,868.98 | (713.66) | 8,921.46 |
| 6 | Exceptional item | - | - | - | - | - | |
| 7 | Share of (profit)/loss of joint ventures | 409.90 | 318.63 | 238.59 | 728.53 | 584.78 | 1.119.93 |
| 8 | Profit/ (Loss) from cperations after exceptional ite:n, share of (profit)/loss of joint venturebefore tax (5-6-7) | 2,963.65 | 176.80 | 2,712.74 | 3,140.45 | (1,298.44) | 7,801.53 |
| 9 | Tax expenses | ||||||
| (a) Current tax | 991.74 | (26,80) | 906.61 | 964,94 | (39.38) | 2,038 25 | |
| (b) Deferred tax (credit)/charge | (149.45) | (7a61) | (148.()2) | (157.06) | (99.74) | (20.08) | |
| Total tax expenses | 842.29 | (34.41) | 758.59 | 807.88 | (139.12) | 2.018.17 | |
| 10 | Net profit/ (loss) after rax (8-9) | 2,121.36 | 211.21 | 1,954.15 | 2,332.57 | (1,159.32) | 5 783.36 |
| 11 | Other comprehensive income | ||||||
| a) Items that will not be reclassified to the statement oi profit and loss | |||||||
| i) Gain/ (Loss) on remeasurement of defined benefit c-bligati.on | !14 61) | /135.001 | (225.12) | !149.61) | (156 94) | /544.67\ | |
| ii) Income tax relating to the above | 3.68 | 33.98 | 56 66 | 37.66 | 39 so | 137.08 | |
| b) Items that will be reclassified to the statement of profit-and loss | |||||||
| i) Exchange differences in translating the financial statements of foreign operations | (19.30) | 68.48 | (10.33) | (10.82) | 47 51 | 44 08 | |
| ii) Income tax relating to the above | 19.83 | (17.12) | 2.58 | 2.71 | /11 88) | (11 02\ | |
| Total other comprehensive income for the period/ year (a+b) | /70.40) | (49.66) | (176.21) | (120.06) | (81.81) | (374.53) | |
| 12 | Total comprehensive income for the period/ ye- (10�11) | 2.050.96 | 161.55 | 1,777.94 | 2,212.51 | /1,241.U) | 5.408.83 |
| Profit attributable to: | |||||||
| - Owners of the Company | 2,117.23 | 222.35 | 1,939.70 | 2,339.58 | (1,161.90) | 5,775.37 | |
| - Non-controlling int:Erest | 4.13 | (11.14) | 14.45 | (7.01) | 2.58 | 7.99 | |
| Other comprehensive income attributable to: | 2,121.36 | 211.21 | 1.954.15 | 2.332.57 | (1.159.32) | 5,783.36 | |
| - Owners of the Company- Non-controlling interest | (70.40)- | (49.66)- | (176.21)- | (120.06)- | (81.81)- | (373.04)(1.49) | |
| (70.40) | (49.66) | (176.21) | (120.06) | (81.81) | (374.53) | ||
| Total comprehensive income attributable to:- Owners of the Company | 2,046.83 | 172.69 | 1,763.49 | 2,219.52 | (1,243.71) | 5,402.33 | |
| - Non-controlling interest | 4.132,050.96 | (11.14)161.55 | 14.451,777.94 | (7.01)2,212.51 | 2.58(1,241.13) | 6.505,408.83 | |
| 13 | Paid up equity share capital (Face value of Rs 10/-per sru=:1 | 6.019.07 | 6,019.07 | 6,019.07 | 6,019.07 | 6,019.07 | 6,019.07 |
| 14 | Reserve excluding Revaluation Reserves | - | - | - | - | 74,418.43 | |
| 15 | Earnings Per Share (EPS) (Face value of Rs 10/- per share) (not annualised for quarter/ half year) | ||||||
| (a) Basic | 3.53 | 0.35 | 3.24 | 3.88 | (1.93) | 9.61 | |
| (b) Diluted | 3.53 | 0.35 | 3.24 | 3.88 | (1.93) | 9.61 |
Notes :
1 The above sratement of unaudited consolidated financial results ('the Statement') for the quarter and six months ended 30 September 2021, have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 12 November 2021. The same along with the report of the Statutory andiror has been filed with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is also available on the Company's website at www.sandbargroup.com.
Notes : Continued
| 2 | Pnnicwors or 5UDSidnu:,cs, step-down subsidiaries and joint ventures (including Subsidiary of a joint venture companyj as on 30 September 2021: | ||
|---|---|---|---|
| a) Subsidiaries and step-down subsidiaries - | (:) Sandhar Technologies Barcelona S.L. - subsidiary | ||
| (ii") Sandbar Strategic Systems Private Limited- subsidiary | |||
| (ili) Sandbar Tooling Private Limited- subsidiary | |||
| (iv) S:mdbar Technologies Poland sp. Zoo - step-down subsidiary | |||
| (v) Sandhar Technologies de Mexico S de RL de CV - step-down subsidiary | |||
| (n) San:fuar Technologies Ro SRL - sllep-down subsidiary (w.e.f. 4 March 2021) | |||
| (,-ii) Breniar Project S.L. - step-down subsidiary (Liquidate:! on 23 April 2021) | |||
| b)Joint Ventures - | (ii Ssnchar Daewha Automotive Systems Private Limited | ||
| (it") Sandbar Han Sung Technologies Private Limilled | |||
| (ili) Sandbar Ecco Green Energy Private Limited | |||
| (iv) Jin}'Ow,g Sandbar Mechatronics Private Limited | |||
| (,-) Sandbar Amkin Industries Private Limited | |||
| (.-i) Sondbar Dashin Auto Systems Pri-ate Limited | |||
| ( <ii) electronics="" limited<="" private="" sandbar="" td="" whetron=""></ii)> | |||
| (,-iii) Kwmsung Sandhar Technologiee Private Limited | |||
| (ix) Sandha,- Han Shin Auto Technologies Private Limited | |||
| (x) Winnercom Sandbar Technologies Private Limited | |||
| (X1) Sandbar Han Shin Automotive Printe Limited (under •trike off) | |||
| (xii) Sandbar Daeshin Technologies Private Limited | |||
| c) Subsidiary of a joint venture company: | (i) K -.ogsung Sandbar Automotive Systems Private Linaited | ||
| (it") Daewha India Private Limited | |||
| (ili) Sandbar Autotech Private Limited | |||
3 The Company has incorporated wholly owned subsidiary with the name "Sandbar Engineering Private Limited" on 14 October 2021.
4 The figwes of the previous year/ periods have been regrouped .,.-t,erever necessary to comply with amendm;,nts in Schedule III of the Companies Act, 2013.
5 Refer Ann�e 1 to chc Statement for disclosure with respect to segment revenue, segment results and segment assets and liabilities for the quarter and six months ended 30 September 2021.
6 ManagemCJlt has been continuously eval=ting the possil,le effects that may result from the pandemic relating to COVID-19 on the operational and financial results of the Group for the quarter and six months ended on 30 September 2021. The Group has considered and taken into accounc internal and external informati<Bl in assessing the recoverab� of financial and l!.0n financial assets. Given the uncertainties associated with nature, condition and duration of COVID-19, the impact assessment on the Group's financial information will be continuously made and provided. fur as required.
7 The Board of Directors at its Meeting held on 21 � 2021, llas recommend a final dividend @ 10% i.e. Rs. l per equity share, which has been approved by shareholders in Annual General Meeting held on 23 September 2021. The same has been paid.
8 The Standalone results of the Company are available on the Company's website www .sandhargroup.com. The key standalone financial information of the Company is given be]ow:
| Partiwlar | Q=cnded | Six months ended | Year ended | |||||
|---|---|---|---|---|---|---|---|---|
| 30 September 2021 | 30Juoe 2021 | 30 September 2020 | 30 September 2021 | 30 September 2020 | 31 March 2021 | |||
| Un-audited | Un-audited | Un-audited | Un-audited | Un-audited | Audited | |||
| Revenue from opeoti.ons | 53,636.15 | 31,767.40 | 42,648.76 | 85,403.55 | 52.584.52 | 1,58,530.80 | ||
| Profit before tax | 3,166.98 | 134.73 | 2,633.21 | 3,301.71 | (151.68) | 8,547.72 | ||
| Tax expense | 797.63 | 35.80 | 674.40 | 833.43 | (28.76) | 2,024.52 | ||
| Profit for the period | 2,369.35 | 98.93 | 1,958.81 | 2,468.28 | (122.92) | 6,523.20 | ||
| Other como:rehensi-.re i:nco� net of income tax | (10.93) | (101.02) | (168.46) | (111.95) | (117.44) | (400.20) | ||
| Total comprehensive income for the period | 2,358.42 | (2.09) | 1,790.35 | 2.356.33 | (240.36) | 6,123.00 |
Pinet : Gurugram D�ted : 12 November 2021
For and on behalf of the Board of Directors a
Sandbar Technologies Uonled
Sandhar Technologies Limited CIN: L74999DL1987PLC029553 Growth Mot,vaUon Bene, Lile Regd. Office: B - 6/20, L.S.C. Safdarjung Enclave, New Delhi 110029
Note:
Tel : 0124 - 4518900, E-mail : [email protected], Website : www.sandhargroup.com
| Consolidated(f in lakhs, except per equity share data) | ||||
|---|---|---|---|---|
| SrNo. | Particulars | |||
| Six months ended | Six months ended | |||
| 30 September 2021 | 30 September 2020 | |||
| Un-audited | Un-audited | |||
| A | Cash flow from operating activities | |||
| Profit before tax | 3,140.45 | (1,298.43) | ||
| Adjustments for :Depreciation and amortization expense | ||||
| 4,855.09 | 4,546.94 | |||
| Share in loss of joint ventures accounted for using equity method | 728.53 | 584.78 | ||
| Profit on sale of property, plant and equipment | (46.09) | (20.08) | ||
| Provision for doubtful debts and advances | - | 12.90 | ||
| Unrealised foreign exchange loss | (19.47) | 3.29 | ||
| Interest expense | 746.12 | 752.69 | ||
| MTM gain on de:ivative | (0.09) | (8.43) | ||
| Interest income oo security deposits measured at amortised cost | (19.06) | (10.47) | ||
| Gain on investments carried at fair value through profit or loss | (57.96) | (56.47) | ||
| Interest income | (86.71' | (68.44) | ||
| Operating profit before working capital changes | 9,240.81 | 4,438.28 | ||
| Movements in working capital: | ||||
| (Increase) in trade receivables | (1,662.99) | (10,605.18) | ||
| (Increase)/ Decrease in inventories | (3,954.70) | 342.94 | ||
| (Increase) in non current financial assets | (238.76) | (22.23) | ||
| Decrease in current financial assets, including assets held for sale | 61.09 | 49.92 | ||
| (Increase)/ Decrease in other current assets | (580.05) | 227.19 | ||
| Increase/ (Decrease) in trade payables | (754.03) | |||
| (Decrease) in current provisions | 8,381.43 | |||
| (140.91) | (72.76) | |||
| Increase in other financial liabilities | 55.52 | 219.37 | ||
| Increase/(Decrease) in other current liabilities | (552.61) | 739.97 | ||
| Total movement in worki■g capital: | (7,767.441 | (739.35) | ||
| Cash generated from operations | 1,473.37 | 3,698.93 | ||
| Income tax paid (net ofrefunds) | 1,368.78 | 745.80 | ||
| Net cash generated from operating activities (A) | 104.59 | 2,953.13 | ||
| B | Cash flow from investing activities: | |||
| Purchase of Property, plant and equipment, Capital work in i:rogress, other intangible assets and | ||||
| capital advances | (6,644.67) | (2,125.16) | ||
| Proceeds from sale of property, plant and equipment | 180.41 | 29.51 | ||
| Purchase of non-current investment in joint ventures | (186.03) | (709.78) | ||
| Purchase of non-current investment in other coq:orates | - | (300.82) | ||
| Proceeds/ (Purchase) from/ of investments | (387.53) | 15.51 | ||
| (Increase) / Redemption of Bank deposits (having original maturity of more than 3 months) | 433.33 | (2.34) | ||
| Interest received | 103.47 | |||
| Net cash used in investing activities (B) | (6,501.02) | 75.00(3,018.08) | ||
| C | Cash flow from financing activities: | |||
| Repayment oflong-term borrowings | (12.38) | (558.00) | ||
| Proceeds from long-term borrowings | 329.00 | 8,106.12 | ||
| (Repayment)/ proceeds from short-term borrowings (net) | 8,056.28 | (5,412.14) | ||
| Payment of lease liabilities | (748.49) | (714.61) | ||
| Dividend paid during the period/ year (including dividend distribution tax) | (607.93) | (457.46) | ||
| Interest paid | (722.33) | (737.67) | ||
| Net cash generated from financing activities (C) | 6,294.15 | 226.24 | ||
| Net increase/(decrease) in Cash and cash equivalents (A+B+C) | (102.28) | 161.29 | ||
| Impact on cash flow on account of foreign currency translation | (77.59) | (269.84) | ||
| Add: Cash and cash equivaJents as at the beginning of year | 596.90 | 670.37 | ||
| Cash and cash equivalents as At end of the year | 417.03 | 561.82 - |
The above statement of Cash Flows has been prepared =dtt the 'Indttect Method' a, �t out ID INDAS 7 'Statement of Cash Flows'. \p -
s DHA Sandhar Technologies Limited
STATEMENT OF ASSETS & LIABILITIES
| Standalone | (fin lakhs, except per equity share data) | Consolidated(fin lakhs, except per equity share data) | |||
|---|---|---|---|---|---|
| Particulars | As at30 September 2021 | As at31 March 2021 | As at30 September 2021 | As at31 March 2021 | |
| Un-Audited | Audited | Un-Audited | Audited | ||
| ASSETS | |||||
| Non-cun:ent assets | |||||
| Property, plant and equipment | 54,230.05 | 55,180.88 | 71,915.15 | 72,093.34 | |
| Capitru. work-:m-progre.s | 2,344.30 | 736.42 | 4,197.02 | 1,454.81 | |
| �o-ht-of-use assets | 4,073.32 | 3,916.70 | 10,488.14 | 10,579.59 | |
| Goodwill | 552.35 | 552.35 | 553.30 | 553.30 | |
| Other Inrangihlc: assets | 421.52 | 533.15 | 793.92 | 952.67 | |
| Equity accounted. investees | - | - | 4,667.97 | 5,166.37 | |
| Financial assets | |||||
| 11,637.15 | 11,438.77 | 488.99 | 520.74 | ||
| (l) Investments(ii) Other financial assets | 1,187.24 | 986.27 | 1,449.39 | 1,210.63 | |
| Income-tax assets | 812.75 | 502.34 | 916.74 | 505.84 | |
| Other non-current assets | 608.71 | 176.04 | 608.71 | 176.04 | |
| Total non-current assets | 75,867.39 | 74,022.92 | 96,079.33 | 93,213.33 | |
| Cuuent assets | |||||
| 15,151.89 | 13,397.11 | 25,091.60 | 21,136.90 | ||
| lovrororiesFinancial assets | |||||
| (i)lnve� | - | - | 586.97 | 153.82 | |
| (ii) Loans | 663.29 | 783.31 | 1,985.80 | 2,157.77 | |
| (iii) Trade recei�bles | 33,471.26 | 31,286.21 | 37,408.82 | 35,745.84 | |
| (iv) Cash and cash equivalents | 128.04 | 87.35 | 417.03 | 596.90 | |
| 81.29 | 81.34 | ||||
| (v) Other Bank oalmces | 81.29 | 514.62 | |||
| (vt) Other financial assets | 3,675.73 | 3,562.57 | 3,675.87 | 3,562.61 | |
| Other cw:rent assets | 1,704.72 | 1,438.72 | 3,092.55 | 2,512.51 | |
| Total cuuent assets | 54,876.22 | 50,636.61 | 72,339.93 | 66,380.97 | |
| Total assets | 1,30,743.61 | 1,24,659.53 | 1,68,419.26 | 1,59,594.30 | |
| EQUTTY AND LIABILITIES | |||||
| Equity | |||||
| Equiry share capital. | 6,019.07 | 6,019.07 | 6,019.07 | 6,019.07 | |
| Other equicy | 76,409.42 | 74,654.97 | 76,030.02 | 74,418.43 | |
| Total equity attributable to equity shareholders | 82,428.49 | 80,674.04 | 82,049.09 | 80,437.50 | |
| Non-controlling interests | - | - | 362.05 | 369.06 | |
| Total equity | 82,428.49 | 80,674.04 | 82,411.14 | 80,806.56 | |
| Liabilities | |||||
| Non-current liabilities | |||||
| Financial liabilities | |||||
| (i) Borrowings | - | 5.31 | 9,507.69 | 9,928.40 | |
| (ii) Lease Liabilities | 1,406.73 | 1,217.02 | 7,789.96 | 7,841.39 | |
| (iii) Other financial liabilities | - | - | 99.88 | 195.96 | |
| Provisions | - | - | 108.15 | 102.01 | |
| Deferred tax liabilities (net) | 814.00 | 995.00 | 1,431.69 | 1,596.35 | |
| Total non-current liabilities | 2,220.73 | 2,217.33 | 18,937.37 | 19,664.11 | |
| Current liabilities | |||||
| Financial liabilities | |||||
| (i) Borrowings | 10,327.34 | 4,324.32 | 20,923.06 | 12,128.00 | |
| (ii) Trad.e payables |
| • total outstancEng dues of mic:::o enterprises and small enterprises | 3,431.11 | 3,832.45 | 3,431.11 | 3,832.45 |
|---|---|---|---|---|
| • total outstanding dues of creditors other than micro enterprises and | ||||
| small enterprises | 28,332.22 | 29,689.07 | 35,337.92 | 35,710.08 |
| (iii) Lease Liabilities | 590.24 | 613.86 | 1,122.81 | 1,136.49 |
| (iv) Other financial liabilities | 1,452.84 | 826.92 | 3,385.50 | 2,873.21 |
| Other current liabilities | 887.94 | 1,407.82 | 1,794.54 | 2,347.15 |
| Income-tax Liabilities | 318.57 | 380.95 | 318.57 | 400.36 |
| Provisions | 754.13 | 692.77 | 757.24 | 695.89 |
| Total current liabilities | 46,094.39 | 41,768.16 | 67,070.75 | 59,123.63 |
| Total liabilities | 48,315.12 | 43,985.49 | 86,008.12 | 78,787.74 |
| Total equity and liabilities | 1,30,743.61 | 1,24,659.53 | 1,68,419.26 | 1,59,594.30 |
Sandbar Technologies Limited NDHAR CIN: L74999DL1987PLC029553 Growth Motov11tlon. Beller lite Regd. Office: B - 6/20, L.S.C. Safdarjung Enclave, New Delhi 110029 Tel: 0124- 4518900, E-mail: [email protected], Website : www.sandhargroup.com
| SrNo. | For the quarter and six months ending 30 September 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Particulars | Quarter ended(fin lacs) | Six months ended(fin lacs) | Year ended(fin lacs) | ||||
| 30 September 2021 | 30Juue 2021 | 30 September 2020 | 30 September 2021 | 30 September 2020 | 31 March 2021 | ||
| Un-audited | Un-m1dited | Un-audited | Un-auditt:d | 11 n-amtitrrl | Audited | ||
| 1 Segment revenue | |||||||
| a) India | 53,892.79 | 31,866.47 | 43,012.99 | 85,759.26 | 53,063.73 | 1,59,651.65 | |
| b) Europe | 7,941.07 | 9,140.85 | 6,910.41 | 17,081.92 | 9.785.62 | 26,704.86 | |
| Income from operations (net) | 61,833.86 | 41,007.32 | 49,923.40 | 1,02,841.18 | 62,849.35 | 1,86,356.51 | |
| 2 Segment results (profit(+), loss(-) before tax, exceptional items and interest from each segment) | |||||||
| a) India | 2,931.07 | (34.83) | 2,718.76 | 2,896.24 | (306.03) | 8,393.00 | |
| b) Europe | 392.18 | 598.16 | 440.59 | 990.33 | (239.72) | 1,010.59 | |
| Total | 3,323.25 | 563.33 | 3,159.35 | 3,886.57 | (545.75) | 9,403.59 | |
| Less: | |||||||
| a) Interest (finance costs) | 359.60 | 386.52 | 446.62 | 7�6.12 | 752.69 | 1,602.06 | |
| b) Exceptional items | - | - | - | - | - | ||
| Total Profit before tax | 2,963.65 | 176.81 | 2,712.73 | 3,140.45 | (1,298.44' | 7,801.53 | |
| 3 Segment assets | |||||||
| a) India | 1,26,214.40 | 1,11,542.61 | 1,11,574.46 | 1,26,214.40 | 1,11,574.46 | 1,20,989.81 | |
| b) Europe | 42,204.86 | 41,988.04 | 35,071.22 | 42,204.86 | 35,071.22 | 38,604.49 | |
| Total assets | 1,68,419.26 | 1,53,530.65 | 1,46,645.68 | 1,68,419.26 | 1,46,645.68 | 1,59,594.30 | |
| 4 Segment liabilities | |||||||
| a) India | 48,954.25 | 35,623.64 | 40,374.89 | 48,954.25 | 40,374.89 | 44,697.83' | |
| b) Europe | 37,053.87 | 36,938.90 | 31,361.79 | 37,053.87 | 31.361.79 | 34,089.91 | |
| Total liabilities | 86,008.12 | 72,562.54 | 71,736.68 | 86,008.12 | 71,736.68 | 78,787.74 | |
| 5 Capital employed (Segment assets less Segment liabilities) | |||||||
| a) India | 77,260.15 | 75,918.97 | 71,199.57 | 77,260.15 | 71,199.57 | 76,291.98 | |
| b) Europe | 5.150.99 | 5,049.14 | 3.709.43 | 5,150.99 | 3,709.43 | 4,514.58 | |
| Total capital employed | 82,411.14 | 80,968.11 | 74,909.00 | 82,411.14 | 74,909.00 | 80,806.56 |
BSR& Co. LLP
Chartered Accountants
Building No. 10, 12th Floor, Tower-C Telephone: +91124 7191000 DLF Cyber City, Phne • II · Fax: +91 124 235 8613 Gurugrarn • 122 002, India
To Board of Directors of Sandbar Technologies Limited
- I. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Sandhar Technologies Limited ("the Company") for the quarter ended 30 September 2021 and year to date results for the period from I April 2021 to 30 September 2021 ("the Statement").
- 2. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reportinlt' ("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 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.,as amended ('Listing Regulations'). Our responsibility is to issue a report on the Statement based on our review.
- 3. We conducted our review of the Statement iti 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. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the 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 provides less assurance than an audit. We have not performed an audit and accordingly, we do not eiq,ress an audit opinion.
- 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations., 2015, including the manner in which it is to be disc� or that it contains any material misstatement.
For BS R & Co. LLP Chartered Accountants �r;:rl"8WPN-1=2
Shashaak arwal
Partner Membership No. 095109 !CAI UDIN: 21095109AAAAFG3922
Place: Gurugram Date: 12 November 2021
8 S R&.Co.(e�lhmwithReg,isll'&11ooNO.BA61223)COffl'llll11eclintoB SR&Co. lLP Iii LmtedLiilbi�ty PaJt,-!ll'll)withLLPAltgistnlion«o. AA8�1811�effect ffomOcttiber 14, 2013 ReQISIOtedOffice: 141hFloor,C&nlr.11BtA'inQandNortt>C�Ne9corrPtr1o:4,Nesco Cenlef. �tom &pess�. Gora,gaon l&s11, t.unbli • 400063
BSR& Co. LLP
Chartered Accountants
Building No. 10, 12th Floor, Tower-C DLF Cyber City, Phase· II Gurugram - 122 002, India
Telephone: +91124 7191000 Fax: +91 124 235 8613
To Board of Directors of Sandbar Technologies Limited
- l. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Sandbar Technologies Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net loss after tax and total comprehensive loss of its joint ventures (including a subsidiary of a joint venture company) for the quarter ended 30 September 2021 and year to date results for the period from 1 April 2021 to 30 September 2021 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
- 2. 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 "Interim 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.
- 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Pe,formed 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 oblain assurance that we would become aware of all significant matters that might be identified ·man 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 Listing Regulations, to the extent applicable.
4. The Statement includes the results of the following entities:
Parent Company: Sandbar Technologies Limited
Subsidiaries:
Sandbar Tooling Private Limited Sandbar Strategic Systems Private Limited Sandbar Technologies Barcelona S.L. Sandbar Technologies Poland sp. Zoo
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Sandhar Technologies Ro SRL Sandbar Technologies de Mexico S de RL de CV Breniar Project, S.L.
Joint ventures:
Sandhar Daewha Automotive Systems Private Limited Sandbar Han Sung Technologies Private Limited Sandhar Ecco Green Energy Private Limited Jinyoung Sandhar Mechalronics Private Limited Kwangsung Sandhar Technologies Private Limited Sandhar Sandhar Whetron Electronics Private Limited Daeshin Auto Systems Private Limited Sandhar Amkin Industries Private Limited Winnercom Sandhar Technologies Private Limited Sandbar Sandhar Han Shin Automotive Private Limited Han Smn Auto Technologies Private Limited Sandbar Daeshin Technologies Private Limited
Subsidiary of a Joint venture:
Kwangsung Sandhar Automotive Systems Private Limited Daewha India Private Limited Sandbar Autotech Private Limited
- 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with and other accounting the recognition and principles measurement generally principles accepted laid in down India, in has the not aforesaid disclosed Indian the Accounting information Standard required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
- 6. We did not review the interim financial information of five subsidiaries included in the Statement, whose interim financial information reflect total assets (before consolidation adjustments) of Rs. 42,204.87 Lakhs as at 30 September 2021, total revenues (before consolidation adjustments) of Rs. 7,969.24 lakhs and Rs 17,110.40 Lakhs, total net profit /(loss) after tax (before consolidation adjustments) of Rs. 161.33 lakhs and Rs. 644.53 lakhs and other comprehensive loss (before consolidation adjustments) of Rs. 59.47 lakhs and Rs. 8.11 lakhs, for the quarter ended 30 September 2021 and for the period from ·I April 2021 to 30 September 2021, respectively, and cash flows (net) (before adjustments) of Rs. (151.41) Lakhs for the period from I April 2021 to 30 September 2021, as considered in the Consolidated Unaudited Financial Results, which has been reviewed by their auditors in their respective countries. The interim financial information of these subsidiaries has been prepared in accordance with the accounting principles generally accepted in their respective countries. The Parent Company's Management has converted the interim financial information of these subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India, which have been reviewed by us. The Consolidated Unaudited Financial Results also includes the Group's share of net loss after tax (and other comprehensive loss) (before consolidation adjustments) of Rs. 225.27 lakhs and Rs. 480.46 lakhs, for
BS R&Co. LLP
the quarter ended 30 September 2021 and for the period from 1 April 2021 to 30 September 202 I, respectively, as considered in the Statement, in respect of three joint ventures, whose interim financial· information has not been reviewed by us. The interim financial information has been reviewed by other auditor whose report has 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 joint ventures, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.
Our conclusion on the Statement is not modified in respectofthe above matter.
7. The Statement includes the interim financial information of two subsidiaries which have not been reviewed, whose interim financial infonnation reflect total assets (before consolidation adjustments) of Rs. 2147.40 Lakhs as at 30 September 2021, total.revenue (before consolidation adjustments) of Rs. 286.53 lakhs and Rs. 418.93 lakhs, total net profit/(loss) after tax (and other comprehensive income) (before consolidation adjustments) of Rs. 20.50 lakhs and Rs. (34.94) lakhs, for the quarter ended 30 September 2021 and for the period from I April 2021 to 30 September 2021 respectively, and cash flows(net)(beforeadjustments)ofRs. (69.16)Lakhs for the period from I April 2021 to 30 September 2021 as considered in the Statement The Statement also includes the Group's share of total net loss after tax (and other comprehensive loss) (before consolidation adjustments) of Rs. 10.09 lakhs and Rs. 27. I 2 lakhs, for the quarter ended 30 September 2021 and for the period from 1 April 2021 to 30 September 2021, respectively, as considered in the Consolidated Unaudited Financial Results, in respect of six joint ventures, based on their interim financial infonnation which have not been reviewed. According to the information and explanations given to us by the management, these interim financial information is not material to the Group.
Our conclusion on the Statement is not modified in respect of the above matter.
ForBSR&Co. LLP
Chartered Accountants !CAI Finn Registration No.: 101248W/W-100022
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Sbashank Agarwal Partner Membership No.: 095109 !CAI UDIN: 21095109AAAAFH9271
Place: Gurugram Date: 12 November 2021