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Seamec Ltd Annual Report 2021
61497_rns_2021-06-07_e4b2de0c-f0ca-4dc3-aa62-214f0c19c832.pdf
Annual Report
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SEAMEC/NSF/SM0/0706/2021
June 7, 2021
National Stock Exchange of India Limited Exchange Plaza Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East) Mumbai - 400 051
Trading Symbol: "SEAMECLTD"
Sub: Outcome of the Board Meeting held on June 7, 2021
Dear Sir / Madam,
In continuation to our letter bearing reference no. SEAMEC/NSE/SM0/2805/2021 dated May 28, 2021, we wish to inform you that the Board of Directors of the Company, at its meeting held on today i.e. June 7, 2021, has inter alia:
-
- Approved audited financial statements (standalone and consolidated) for the year ended March 31, 2021, as recommended by the Audit Committee.
-
- Approved audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2021, as recommended by the Audit Committee.
-
- Confirmed the interim dividend of Rs. 1 per equity share of Rs. 10/- each as final dividend for the year ended March 31, 2021.
-
- Approved purchase of a diving support vessel to expand the fleet in line with Company's long term objective to remain a dominant player.
-
- Approved sale / scrap of vessel Seamec-I, diving support vessel, as it may be deemed appropriate, subject to customs clearance.
Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the following:
-
- Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2021 along with the Statement of Assets and liabilities and Cash Flow Statement (Standalone and Consolidated) for half year ended March 31, 2021.
-
- Auditors' Reports on the aforesaid Audited Financial Results (Standalone and Consolidated).
M/s. T R Chadha & Co. LLP, Chartered Accountants (ICAI Registration No. 006711N/N500028), have issued the Audit Reports for Standalone and Consolidated Financial Statements as prepared under the Companies Act, 2013 and for Standalone and Consolidated Financial Results as prepared under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the financial year ended March 31, 2021 with an unmodified opinion.
We shall inform you in due course the date on which the Company will hold its Annual General Meeting for the year ended March 31, 2021.
The meeting of the Board of Directors commenced at 15:55 hours and concluded at 17:00 hours.
We request you to take the above on record and disseminate the same on your website.
Thanking you,
Yours Faithfully, For SEAMEC LIMITED
s}j President - Corporate Affairs, Legal and Company Secretary
Chartered Accountants 502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park Lower Parel, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Email:[email protected]
Independent Auditor's Report on Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
TO THE BOARD OF DIRECTORS OF SEAMEC LIMITED
Report on the audit of the Standalone Financial Results
Opinion
We have audited the accompanying standalone quarterly financial results of Seamec Limited (the company) for the quarter ended 31 March 2021 and the year to date results for the period from I April 2020 to 31 March 2021, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBT (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:
- i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- ii. give a true and fair view in conformity with the recognition and measurement principles laid 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 ended 31 March 2021 as well as the year to date results for the period from I April 2020 to 31 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, as amended (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 ofthe financial results under the provisions of the Act 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 is sufficient and appropriate to provide a basis for our opinion.
Corporate/ Regd. Office : B-30, Connaught Place, Kuthiala Building, New Delhi - 110001 Phone : 43259900, Fax : 43259930, E-mail : [email protected] Branches at: •:• AHMEDABAD •:• BENGALURU •:• CHENNAI •:• GURGAON •:• HYDERABAD •:• PUNE •:• TIRUPATI
Chartered Accountants
502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park Lower Pare!, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Email: [email protected]
Emphasis of Matter
We draw attention to Note 4 to the accompanying standalone financial results which states that the impact of COVID-19 pandemic moderately significant. The company assessed the impact and does not anticipated adverse substantive impact and explains the uncertainties and the management's assessment of the financial impact due to the lockdown and other restrictions related to the COVID-19 pandemic situation, for which a definitive assessment of the impact in the subsequent period is highly dependent upon circumstances as they evolve.
Our opinion is not modified in respect of this matter.
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 interim 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/loss and other comprehensive income and other financial information in accordance with applicable 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. 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 ofthe 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 misst~tement, 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 is 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
| Corporate/ Regd. Office : B-30, Connaught Place, Kuthiala Building, New Delhi - 110001 | |
|---|---|
| Phone : 43259900, Fax : 43259930, E-mail : [email protected]!ll | |
| Branches at: | •!• AHMEDABAD •!• BENGALURU •!• CHENNAI •!• GURGAON •!• HYDERABAD •!• PUNE •!• TIRUPATI |
Chartered Accountants 502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park Lower Parel, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Emaii: [email protected]
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 ofthese 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 l43(1)(i) ofthe Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial control 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. Ifwe 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
| Corporate/ Regd. Office : B-30, Connaught Place, Kuthiala Building, New Delhi - 110001Phone : 43259900, Fax : 43259930, E-mail : [email protected] | ||||
|---|---|---|---|---|
| Branches at: | •:• AHMEDABAD •:• BENGALURU •:• CHENNAI •:• GURGAON •:• HYDERABAD •:• PUNE •:• TIRUPATI |
T R Chadha &. Co LLP Chartered Accountants
502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park Lower Parel, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Email:[email protected]
relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters
The Financial results for the quarter ended March 31, 2021 represent the derived figures between the audited figures in respect of the financial year ended March 31, 2021 and the published year-to-date figures up to December 3 t, 2020, being the date of the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under Listing Regulations.
For T R Chadha & Co LLP Chartered Accountants Firm Registration No. 006711N/N500028
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Date: 7th June 2021 (Partner)
Corporate/ Regd. Office : B-30, Connaught Place, Kuthiala Building, New Delhi - 110001 Phone : 43259900, Fax : 43259930, E-mail : [email protected] Branches at: •:• AHMEDABAD •:• BENGALURU •:• CHENNAI •:• GURGAON •:• HYDERABAD •:• PUNE •:• TIRUPATI
Seamec Limited Registered office: A-901-905,9th Floor,215 Atrium Andheri-Kurta Road, Andheri (East), Mumbai 400093, India Tel: (022) 66941800 Fax: (022) 66941818 Email: [email protected] Website : www.seamec.in CIN: L63032MH1986PLC154910
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULT FOR THE QUARTER I YEAR ENDED MARCH 31, 2021
(f in lakhs except as stated)
| Standalone | ||||||
|---|---|---|---|---|---|---|
| Quarter ended | Year ended | |||||
| Particulars | March 31, 2021 | December 31,2020 | March 31, 2020 | March 31, 2021 | March 31, 2020 | |
| (Audited) | (Unaudited) | (Audited) | (Audited) | (Audited) | ||
| 1 | Income | |||||
| (a) Revenue from operations | 8,704 | 5,841 | 9.056 | 22.924 | 36 525 | |
| (b) Other income | 714 | 993 | 893 | .3,404 | 3,038 | |
| 2 | Total Income (a)+(b) | 9,418 | 6,.834 | 9,949 | 26,328 | 39.563 |
| 3 | Expenses | |||||
| (a) Qperatina Expenses | 3.870 | 3.327 | 4.531 | 11 ,961 | 14.413 | |
| (b) Employee benefit expenses | 1 498 | 1.346 | 1.411 | 5.117 | 6.276 | |
| (c) Finance costs | 11 | 19 | 18 | 64 | 102 | |
| !!!_Cation ~."9 amortisation expenses ______ | 1,334 | 1,165 | 1,021 | 4.284 | 4,_588 | |
| - | --(e) Other Expenses | 2.75 | 101 | 177 | 582 | 628 |
| 4 | Total expenses (a toe) | 6,988 | 5.958 | 7158 | 22 008 | 26007 |
| 5 | Profit I (loss) before exceptional items and tax (2-4) | 2,430 | 876 | 2,791 | 4,320 | 13,556 |
| 6 | Exceptional item | - | 6,188 | - | 6188 | - |
| 7 | Profit I (loss) before tax (S-61 | 2,430 | 7,064 | 2 791 | 10,508 | 13,556 |
| 8 | Tax expense | |||||
| lal Current Tax | 125 | 77 | 197 | 465 | 359 | |
| (bl Deferred Tax | (33) | 134 | 34 | 280 | 185 | |
| 9 | Profit I (Loss) for the period I year ended after tax (7-8) | 2,338 | 6,853 | 2,560 | 9,763 | 13,012 |
| 10 | Other Comprehensive Income | |||||
| Item that will be redassified to statement of profit and loss | - | - | - | - | - | |
| Item that will not be redassified to statement of profit and loss | 28 | (2} | (3) | 22 | (8) | |
| 11 | Total comprehensive Income for the period I year {9+10) | 2,366 | 6,851 | 2,557 | 9785 | 13,004 |
| 12 | Paid up eouitv share capital (face value : ' 10/- each) | 2,543 | 2.543 | 2,543 | 2,543 | 2.543 |
| 13 | Earnin11/(Loss) per share (of' 10/-each) | |||||
| - Basic & Diluted <'.) | 9,20 | 26.95 | 10.08 | 38.39 | 51.18 |
Seamec Limited Registered office: A-901-905,9th Floor,215 Atrtum Andheri-Kurta Road, Andhert (East), Mumbai 400093, India Tel : (022) 66941800 Fax : (022) 66941818 EmaU: [email protected] Website : www.seamec.ln CIN: L63032MH1986PLC154910
Segment Reporting
| ' ' In lakhs except as stated) | |||||||
|---|---|---|---|---|---|---|---|
| Standalone | |||||||
| Quarter ended | Year ended | ||||||
| Particular | March 31, 2021 | December 31 ,2020 | March 31, 2020 | March 31, 2021 | March 31, 2020 | ||
| I Audited) | (Unaudited) | (Audited) | (Audited) | (Audlledl | |||
| 1 | ~ment Revenue | ||||||
| --(?l Domestic | 8,323 | 5 .298 | 8.512_ | 21.202 | ---34.544 | ||
| - | --·--{b\ Overseas | 38t | 543 | 54A | 1722 | 1-981 | |
| Revenue from operations | 8704 | 5.841 | 9056 | ""24 | 36.525 | ||
| ----2 ~ment results | ---- | ||||||
| al Dorr.c5tlc | 1.831 | (195) | 1,907 | 1 027 | 10.665 | ||
| b) Overseas | (114\ | 101 | 151 | 147\ | 433 | ||
| Total | 1-717 | 1941· | 2058 | 980 | 11.299 | ||
| Less (11 Finance Cost | 11 | 19 | 18 | 64 | 102 | ||
| Add Ciil Other un-;allocable Income | 724 | 989 | 751 | 3.404 | 2359 | ||
| AdrJ !iii) Exceotional item | 6.188 | - | 6.1 88 | - | |||
| Profit I (loss) before tax | 2,430 | 7,064 | 2,791 | 10,508 | 13,556 |
• Segment assets & segment llabllitles have not been Identified with any of the reportable segments, as the assets used In the Company's business and the llabllltles contracted are used Interchangeably betWeen segments.
- 2 The Company has long outstanding recelvables & payables pertaining to Kreuz Group of companies, which has since been settled through settlement agreements In respect of wnte off, wr1teback and lntno company adjustments. This settlement has resulted into net Increase In profits aggregating to ' 6188 Lacs. The Company has received requisite approval under FEMA regulations and necessary accounting adjustments have been passed durtng the year and the Impact thereof of' 6188 Lacs has been shown as Income under exceptional Items.
- 3 Durtng Aprtl 2021, The Company has Incorporated a subsidiary In joint venture with NIRMANVRIDHI INFRA LLP under the name and style " SEAMEC NIRMAN INFRA LIMITED "in Mumbai, India. The prtmary object Is to bid for and execute contracts, whether on consortium basis or joint venture or -erwise, whether awarded directly to the Company or outsourced or procured for construction and erection of roads, brtdges, tunnels and other Infrastructure projects, turnkey activities, EPC contracts and such other kind of construction and execution of Projects of varted natures noated or promoted by various government and non~ovemment agencies, In India or abroad.
- 4 The outbreak of corona virus (COVID-19) pandemic globally and In India Is causing significant disturbance and slowdown of economic activity. The Company's operations and revenue durtng the pertod I year have moderately significant Impact due to COVID-19. The Company has assessed the Impact of COVID-19 In preparation of the audited standalone nnanclal results, Including Its assessment of recoverable value of Its assets based on Internal and external Information up to the date of approval of these audited standalone financial results and current Indicators of future economic conditions. Ho-ver, the Company does not anticipate adverse substantive Impact on Its business, operations, flnanclats, cash flow, Aquldlty or ability to service Its flnanclal obligations going forward. However, the full extent to which the pandemic wll Impact the future financial results of the Company wll depend on upcoming developments, which are highly uncertain Including any new Information concerning the severity of the pandemic. Management wlll cont1nue to monitor any matertal changes to future economic conditions and the Impact thereof on the Company, If any.
- 5 The audited standalone financial results for the year ended March 31, 2021 have been reviewed by the Audit Committee and taken on record by the board of directors at respective meetings held on June 07, 2021.
- 6 The previous year flgures have been regrouped to conform to the current quartertyear presentation. The figures for quarter ended March 31, 2021 are balancing figure between the audited ngures for full nnanclal year and the reviewed year to date figures up to the third quarter of the financial year.
Seamec Limited Registered office: A-901-905,9th Floor,215 Atrium Andherl-Kurla Road, Andherl (East), Mumbai 400093, lndla Tel: (022) 66941800 Fax: (022) 66941818
Website: www.seamec.in CIN : L63032MH1986PLC154910
STATEMENT OF AUDITED STANDALONE ASSETS AND LIABILITIES
| IRs. In lakhs exceot as statedl | |||||
|---|---|---|---|---|---|
| Particulars | Standalone | ||||
| As at 31.03.2021 | As at 31.03.2020I Audited\ | ||||
| A -Assets | !Audited\ | ||||
| 1) Non-Current Assets | |||||
| (a) Property, Plant and Equipment | 14,253 | 13,389 | |||
| (b) Capital work-in-progress | 2 | 110 | |||
| (c) Intangible assets | 2 | 4- | |||
| (d) Intangible assets under development | 9 | ||||
| (e) Financial assets(i) Investments | 22,702 | 17,607 | |||
| (ii) Trade Receivables | - | ||||
| (iii) Loans | 144 | 141 | |||
| (iv) Other Financial Assets | 7,553 | 6,349 | |||
| (f) Non-current tax assets (net) | 442 | 515 | |||
| (g) Other non-current assets | 62 | 75 | |||
| 45,169 | 38,190 | ||||
| 2) Current Assets(a) Inventories | 1,740 | 1,754 | |||
| (b) Financial assets | |||||
| (i) Investments | - | 410 | |||
| (ii) Trade Receivables | 7,690 | 15,351 | |||
| (iii) Cash and cash equivalents | 1,989 | 2,220 | |||
| (iv) Bank balances other than (iii) above | 10 | 5 | |||
| (v) Other Financial assets | 6,262 | 6,798 | |||
| (c) Current tax assets (net) | - | 39 | |||
| (d) Other current assets | 191 | 231 | |||
| 17,882 | 26,808 | ||||
| Asset classified as held for sale | 393 | - | |||
| Total-Assets | 63,444 | 64,998 | |||
| B- Equity and Llabllltles | |||||
| 1) Equity | |||||
| (a) Equity share capital | 2,54354,475 | 2,54345,199 | |||
| (b) Other Equity | 57,018 | 47,742 | |||
| 2) Llabllltles | |||||
| Non-Current Llabllltles | |||||
| (a) Financial Liabilities | |||||
| (i) Other Financial liabilities | 416 | 610 | |||
| (b) Provisions | 108 | 63 | |||
| (c) Deferred tax liabilities (Net) | 512 | 232 | |||
| 1,036 | 905 | ||||
| Current Llabllltles(a) Financial Liabilities | |||||
| (i) Trade payables | |||||
| Total Outstanding dues to micro enterprises and small | |||||
| enterprises | 118 | 121 | |||
| Total Outstanding dues of creditors other than micro enterprises | |||||
| and small enterprises | 3,184 | 14,864 | |||
| (ii) Other Financial liabilities | 1,282 | 621 | |||
| (b) Other current liabilities | 793 | 487 | |||
| (c) Provisions | 135,390 | 5816,351 | |||
| Total-Equity & Llabllltles | 63,444 | 64,998 |
Seamec Limited Registered office: A-901-905,9th Floor,215 Atrium Andherl-Kurla Road, Andheri (East), Mumbai 400093, India Tel: (022) 66941800 Fax: (022) 66941818
Website : www.seamec.ln CIN: L63032MH1986PLC154910
STATEMENT OF AUDITED STANDALONE CASH FLOW FOR THE YEAR ENDED MARCH 31,2021
| CR s. in lakhs except as stated) | |||
|---|---|---|---|
| Particulars | Year ended31.03.2021 | Year ended31.03.2020 | |
| !Audited) | !Audited) | ||
| Cash flows irom operating activities | |||
| Profit before tax | 10,508 | 13,556 | |
| Adiustments to reconcile profit before tax to net cash flows | |||
| Depreciation of property, plant and equipment | 4.282 | 4,578 | |
| Amortisation of Intangible Assets | 2 | 10 | |
| Fair value aain on financial instrument at fair value through profit or loss | (1.072 | 1731) | |
| Provision for Doubtful Debts | - | 27 | |
| Profit on sale on Investment | - | (2 | |
| Provision for doubtful debts written back | - | (679 | |
| Gain on sale of Fixed Asset | - | (2) | |
| Bad Debts Write off | - | 46 | |
| Other Comprehensive Income | 22 | 8 | |
| Loss on sale of Fixed Asset | 1 | ||
| Liability Written back | (281 | (144 | |
| Interest income | (1 ,234) | (873 ) | |
| Dividend on Mutual Funds | (0 | C5· | |
| Short Term Capital Gain on MF | C437 | (4) | |
| Finance Charaes paid | 64 | 102 | |
| Unrealised exchange (gain)/ losses | (165 | 229 | |
| Working Capital: adjustments | |||
| Decrease I (Increase) in Inventories | 15 | (231 | |
| Decrease I (Increase) in Trade and other receivables and prepayments | 7,875 | 1,172 | |
| Increase I (Decrease) in Trade and other payable | (10 ,685 | 2,122 | |
| Increase I (Decrease) in Provision | (0 | (7 | |
| Cash generated from operations | 8.895 | 19,172 | |
| Direct taxes paid, net of refunds | C354 | (314 | |
| 'Net casn now nom operating acuvmes (AJ | 8,541 | 18,858 | |
| Cash flows from lnvestrng activities | |||
| Purchase of Property, plant and equipment including CWlP and Capital Creditors | (5 ,407 | (1 ,506 | |
| Proceeds from sale of Property. plant and equipment | - | 2 | |
| Purchase of Investment | (6.469 | 18.132) | |
| Redemption of IC Investment in l Mutual Fund- Lona Term | 2.884 | 790 | |
| Investment in subsidiary company | - | (195 | |
| investment in Bank Deposits (havina Original maturity more than 3 Months) | (2,026 | (7 ,685 | |
| Redemotion of Bank Deposits (having Original maturity more than 3 Months) | 2,271 | - | |
| Profit on sale on Investment | - | 2 | |
| Dividend paid | 1509 | - | |
| Interest received | 726 | 529 | |
| Net cash from I (used In) Investing activities (BJ | (8,530) | (16 ,196) | |
| Cash flows from financing activities | |||
| Finance charges paid | (9 | (36 | |
| Lease rental payment | (233 | (228 | |
| Net cash from/(used In) financing activities (CJ | (242) | (264) | |
| Net Increase I (decrease) in cash and cash equivalents (A+B+C) | (231) | 2,399 | |
| Cash and Cash equivalents at the beginning of year | 2,220 | (179 1 | |
| Cash and Cash equivalents at the end of the year | 1,989 | 2,220 | |
| Components of Cash and Cash equivalents | |||
| Cash on hand | 0 | 0 | |
| Balances with Scheduled banks | |||
| - current accounts | 441 | 122 | |
| - foreign currency accounts | 1,548 | 2,098 | |
| Total | 1,989 | 2.220 |
For and on behalf of the Board of Directors
..at
Whole Time Director
Chartered Accountants 502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park Lower Parel, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Email:[email protected]
Independent Auditor's Report on Quarterly and Year to Date Audited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
TO THE BOARD OF DIRECTORS OF SEAMEC LIMITED
Report on the audit of the Consolidated Financial Results
Opinion
We have audited the accompanying consolidated quarterly financial results of Seamec Limited (the Holding company) and its subsidiaries (Holding company and its subsidiaries together referred to as "the Group") for the quarter ended 31 March 2021 and for the period from 1 April 2020 to 31 March 2021 ("the statement"), attached herewith, being submitted by the company pursuant to the Holding 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 and based on the consideration of the reports of the other auditors on separate audited financial statements of subsidiaries, the Statement:
-
- includes the results ofthe following subsidiaries
- a. Seamec International FZE
- b. Seamate Shipping FZC
- ii. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- iii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the consolidated net profit and other comprehensive income and other financial information of the Group for the quarter ended 31 March 2021 and for the period from 1 April 2020 to 31 March 2021.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) ofthe Companies Act, 2013, as amended (the Act). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit ofthe Consolidated Financial Results" section of our report. We are independent of the Group 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 Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with
| Corporate/ Regd. Office : B-30, Connaught Place, Kuthiala Building, New Delhi - 110001 | |||||
|---|---|---|---|---|---|
| Phone : 43259900, Fax : 43259930, E-mail : [email protected] | |||||
| Branches at: | •:• AHMEDABAD •:• BENGALURU •:• CHENNAI •:• GURGAON •:• HYDERABAD •:• PUNE •:• TIRUPATI |
T R Chadha & Co LLP Chartered Accountants
502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park Lower Parel, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Email: [email protected]
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 Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion.
Emphasis of Matter
We draw attention to Note 4 to the accompanying consolidated financial results which states that the impact of COVTD-19 pandemic moderately significant. The group assessed the impact and does not anticipated adverse substantive impact and explains the uncertainties and the management's assessment ofthe financial impact due to the lockdown and other restrictions related to the COVID-19 pandemic situation, for which a definitive assessment of the impact in the subsequent period is highly dependent upon circumstances as they evolve.
Our opinion is not modified in respect ofthis matter
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 ofthe interim financial statements.
The Holding 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/loss and other comprehensive income and other financial information in accordance with applicable 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 ofthe Listing Regulations. The respective Board of Directors of the company included in the Group 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 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 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 Holding Company, as aforesaid.
In preparing the consolidated financial results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group 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 Company or to cease operations, or has no realistic alternative but to do so.
| Corporate/ Regd. Office : B-30, Connaught Place, Kuthiala Building, New Delhi - 110001 | |||||
|---|---|---|---|---|---|
| Phone : 43259900, Fax : 43259930, E-mail : [email protected] | |||||
| Branches at: | •:• AHMEDABAD •:• BENGALURU •:• CHENNAI •:• GURGAON •:• HYDERABAD •:• PUNE •:• TIRUPATI |
Chartered Accountants 502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park
Lower Parel, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Email:[email protected]
The respective Board of Directors of the company included in Group is also responsible for overseeing the financial reporting process ofthe Group.
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 ofthese 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 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( I )(i) ofthe Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial control 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 ability of the Group to continue as a going concern. Ifwe 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 to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
Chartered Accountants 502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park Lower Parel, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Email:[email protected]
• Obtain sufficient appropriate audit evidence regarding the financial results of the entities within the Group to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and perfonnance of the audit of financial infonnation 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 regarding of the Holding Company, 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 SEBl under Regulation 33(8) ofthe Listing Regulations, as amended, to the extent applicable.
Other Matters
The Consolidated financial results include the audited financial results of two subsidiaries located outside India, whose financial statements reflects Group's share of total assets of Rs.22,925.45 lakhs as at March 31, 2021, and Group's share of total revenues of Rs. 1,002.29 lakhs and Rs 3,279.79 lakhs and Group's share of net profit/(loss) after tax of Rs. (561.92) lakhs and Rs 115.54 lakhs for the quarter ended 31 March 2021 and for the period 1 April 2020 to 31 March 2021 respectively, as considered in consolidated financial results. Those financial statements, prepared in accordance with accounting principal generally accepted in the subsidiary's country of incorporation, have been audited by other another auditor under generally accepted auditing standards applicable in that country. The Company's management has converted those financial statement accounting principles generally accepted in the country on incorporation of the subsidiaries, to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Company's management. Our opinion, in so far as it relates to the balances and affairs of the subsidiaries, is based on the report of the other auditor on the said financial statements, and the conversion adjustments prepared by the management ofthe Company, if any and audited by us.
Chartered Accountants 502, Marathon Icon, Off. Ganpatrao Kadam Marg Opp. Peninsula Corporate Park Lower Parel, Mumbai - 400 013 Tel.: 022-49669000 Fax.: 022-49669023 Email: [email protected]
Our opinion on the consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the Financial Results certified by the Board ofDirectors.
The Consolidated Financial results for the quarter ended March 31, 2021 represent the derived figures between the audited figures in respect of the financial year ended March 31, 2021 and the published year·to-date figures up to December 31, 2020, being the date of the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under Listing Regulations.
For T R Chadha & Co LLP Chartered Accountants Firm Registration No. 006711N/NS00028
llalJVbyVlA\ of\I M , VIKAS .("°4-IWW!'\61, pOt.lM(od!-'00(6l;ft.., M:J>Jt{TIP!, w11f1...ll'l~• U0} 41},W04dl1olt.lta&t JtlS.C ll~IR:> KUMAR \1 c;Lm-ltl ~\ <UYM t•m10&.011 r 1Ut -v1'JJ
VikasKumar Place: Mumbai Membership No. 75363 UDIN:21075363AAAAAK7611
Date: 7th June 2021 (Partner)
Seamec Limited Registered office: A-901-905,9th Aoor,215 Atrium Andheri-Kur1a Road, Andheri (East), Mumbai 400093, India Tel: (022) 66941800 Fax: (022) 66941818 Email: [email protected] Website : www.seamec.in CIN: L63032MH1986PLC154910
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULT FOR THE QUARTER I YEAR ENDED MARCH 31, 2021
| (' in lakhs except as stated) | |||||
|---|---|---|---|---|---|
| Consolidated | Year ended | ||||
| Particulars | March 31, 2021 | Quarter endedDecember 31,2020 | March 31, 2020 March 31, 2021 | March 31, 2020 | |
| (Audited) | (Unaudited) | (Audited) | (Audited) | (Audited) | |
| Income1 | |||||
| lal Revenue from ooerations | 9,687 | 6473 | 9621 | 25.680 | 38410 |
| lb\ Other income | 729 | 1.052 | 496 | 3.904 | 2.988 |
| Total Income (a}+(b)2 | 10416 | 7.525 | 10.117 | 29,584 | 41 398 |
| 3Expenses | |||||
| I a) ""'ratina Exoenses | 4,518 | 3.472 | 4574 | 12 842 | 14 577 |
| (b) Emolovee benefil exoenses | 1.672 | 1,355 | 1.420 | 5,318 | 6311 |
| (c) Finance costs | 84 | 135 | 124 | 484 | 5[)7 |
| Id) Depreciation and amortisation exoenses | 1762 | 1 545 | 1291 | 5.656 | 5460 |
| (e I Other Exoenses | 511 | 114 | 202 | 848 | 674 |
| Total expenses (a toe)4 | 8547 | 6621 | 7611 | 25148 | 27529 |
| Profit I (loss) before exceotional items and tax (2-4)5 | 1,869 | 904 | 2,506 | 4,436 | 13,869 |
| 6Exceptional rtem | - | 6.168 | - | 6188 | - |
| 7Profit I (loss) before tax (5.0) | 1869 | 7.092 | 2.506 | 10624 | 13.869 |
| Tax expense8 | |||||
| (a) Current Tax(bl Deferred Tax | 125(33} | 77135 | 19734 | 465280 | 359185 |
| Profit I (Loss) for the period/ year ended after tax (7-l!)9 | 1,n1 | 6,880 | 2,275 | 9,879 | 13,325 |
| 10Other Comprehensive Income | (150\ | (1 75\ | |||
| hem that will be reclassied to statemerrt of profit and lossttem that will not be reclassied to statement of orofit and loss | 7328 | 608(2) | (3) | 72722 | (8) |
| Total comprehensive Income for the period I year (9+10) | 1.878 | 7486 | 2.122 | 10628 | 13142 |
| 11 | |||||
| N&t Profit Attributable to: | |||||
| Owners of the comoanv | 1 765 | 6870 | 2275 | 9.857 | 13325 |
| Non-Controllina interest | 12 | 10 | - | 22 | - |
| -e< Comp.-ehensive Income Attri_!>utable to: | |||||
| Owners of the com~- | 101 | 606 | (153\ | 749 | (183) |
| NOn-Conlroll111g 1n1eresl | - | - | - | - | |
| Total Comprehensive Income Attributable to: | |||||
| Owners of the comoanv | 1866 | 7476 | 2122 | 10.606 | 13.142 |
| Non-Controllina interest | 12 | 10 | - | 22 | - |
| 1878 | 7486 | 2.122 | 10628 | 13.142 | |
| Paid uc ""'""'share cap~al (face value : ~ 10/- each)12 | 2 543 | 2,543 | 2.543 | 2,543 | 2,543 |
| Earning/floss) per share (Of' 10/- each}13 | |||||
| - Basic & Diluted (~ . ) | 6.99 | 27.06 | 8.95 | 38.85 | 52.41 |
au-
Seamec Limited Registered office: A-901-905,9111 Floor,215 Atrium Andheri-Kur1a Road, Andheri (East), Mumbai 400093, India Tel : (022166941800 Fax : (022} 66941818 Email: [email protected] Website : www.seamec.in CIN : L63032MH1986PLC154910
Segment Reporting
(t in lakhs except as SI.lied)
| Consolidated | |||||
|---|---|---|---|---|---|
| Quarter ended | Yoarondcd | ||||
| Particular | March 31, 2021 | December 31,2020 | March 31, 2020 March 31, 2021 | March 31, 2020 | |
| (AuditedI | (Unauditedl | (Audited) | (AuditedI | (Audited I | |
| 1 Seqment Revenue | |||||
| al Domestic | 8,323 | 5·,, | 8512 | 21 202 | 34544 |
| bl Overseas | 1,364 | 11 74 | t 109 | 4478 | 3866 |
| Revenue from ooerations | 9.687 | 6.473 | 9621 | 25680 | 38410 |
| 2 Seoment results | |||||
| a) Domestic | 1,831 | (1961 | 1,607 | 1 027 | 10866 |
| bl Overseas | (596) | 177 | 482 | 1111 | 1.172 |
| Total | 1,235 | (19] | 2089 | 1 016 | 12.038 |
| Less; rn Finance Cost | 84 | 135 | 124 | 484 | 507 |
| Add . (iii Other un-allocable income | 718 | 1,058 | 541 | 3904 | 2338 |
| Add • {Tii) Ex~p)J.cmal it _ | - | _§~ | -- | 61 88 | - |
| Profit I (loss} before tax | 1,869 | 7,092 | 2,506 | 10,624 | 13,869 |
• Segment assets & segment liabilities have not been identified with any of the reportable segments, as the assets used in the Company's business and the liabilities contracted are used interchangeably between segments.
- 2 The Group has long outstanding receivables & payables pertaining to Kreuz Group of companies, which has since been settled through settlement agreements in respect of write off, writeback and intra company adjustments. This settlement has resulted into net increase in profits aggregating to ' 6188 Lacs. The Group has received requisite approval under FEMA regulations and necessary accounting adjustments have been passed during the year and the impact thereof of' 6188 Lacs has been shown as Income under exceptional items.
- 3 During April 2021, The Group has incorporated a subsidiary in joint venture with NIRMANVRIDHI INFRA LLP under the name and style" SEAMEC NIRMAN INFRA LIMITED" in Mumbai, India. The primary object is to bid for and execute contracts, whether on consortium basis or joint venture or otherwise, whether awarded directly to the Company or outsourced or procured for construction and erection of roads, bridges, tunnels and other infrastructure projects, turnkey activities, EPC contracts and such other kind of construction and execution of Projects of varied natures floated or promoted by various government and non-government agencies, in India or abroad.
- 4 The outbreak of corona virus (COVID-191 pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The group's operations and revenue during the period I year have moderately significant impact due to COVID-19. The group has assessed the impact of COVID-19 in preparation of the audited consolidated financial results, including its assessment of recoverable value of its assets based on internal and external information up to the date of approval of these audited consolidated financial results and current indicators of future economic conditions. However, the group does not anticipate adverse substantive impact on its business, operations, financials, cash flow, liquidity or ability to service its financial obligations going forward. However, the ful extent to which the pandemic will impact the future financial results of the group will depend on upcoming developments, which are highly uncertain including any new information concerning the severity of the pandemic. Management will continue to monitor any material changes to future economic conditions and the impact thereof on the group, if any.
- 5 The audited consolidated financial results for the year ended March 31, 2021 have been reviewed by the Audit Committee and taken on record by the board of directors at respective meetings held on June 07, 2021.
- 6 The previous year figures have been regrouped to conform to the current quarter/year presentation. The figures for quarter ended March 31, 2021 are balancing figure between the audited figures for full financial year and the reviewed year to date figures up to the third quarter of the financial year.
Seamec Limited Registered office: A-901·906,9th Floor,215 Atrium Andherl-Kurla Road, Andherl (East). Mumbai 400093, India Tel : (022) 66941800 Fax : (022) 66941818
Website : www.svamec.ln CIN: L63032MH1986PLC164910
STATEMENT OF AUDITED CONSOLIDATED ASSETS AND LIABILITIES
| !Rs. in lakhs excepl as staled | ||
|---|---|---|
| Particulars | Con1olldated | |
| As at 31.03.2021 | Aa at 31.03.2020(Audited) | |
| A -Assets | !Audited) | |
| 1) Non-Current ABSets | ||
| (a) Property, Plant and Equipment | 29,083 | 24,813 |
| (b) Capital work-in-progress | 2 | 110 |
| (c) Intangible assets | 1 | 3 |
| (d) Intangible assets under development | 9 | - |
| (e) Financial assets | ||
| (i) Investments | 22,250 | 17.156 |
| (ii) Trade Receivables | - | |
| (iii) Loans | 154 | 150 |
| (iv) Other Financial Assets | 7,553 | 6,349 |
| (f) Non-current tax assets (net) | 442 | 515 |
| (g) Other non-current assets | 62 | 75 |
| 59,566 | 49,1 71 | |
| 2) Current Assets | ||
| (a) Inventories | 2,021 | 1,752 |
| (b) Financial assets | ||
| (i) Investments | - | 701 |
| (ii) Trade Receivables | 7,898 | 15,557 |
| (iii) Cash and cash equivalents | 2,755 | 2,803 |
| (iv) Bank balances other than (iii) above | 10 | 5 |
| (v) Other Financial assets | 13,038 | 13,645 |
| (c) Current tax assets (net) | - | 39 |
| (d) Other current assets | 230 | 269 |
| 26,962 | 34,771 | |
| Asset classified as held for sale | 393 | |
| Total-Assets | 86.901 | 83,942 |
| B· Equity and Llabll ltles | ||
| 1) Equity | ||
| (a) Equity share capital | 2,543 | 2,543 |
| (b) Other Equity | 63,666 | 53,569 |
| Equity attributable to owners of the Holding company | 66,209 | 56,112 |
| Non contorlling interest | 234 | - |
| 66,443 | 66,112 | |
| 2) Llabllltlea | ||
| Non-Current Llabllltles | ||
| (a) Financial Liabilities | ||
| (i) Borrowings | 3,543 | 5,039 |
| (ii) Other Financial liabilities | 3,806 | 3,804 |
| (b) Provisions | ||
| 108 | 63 | |
| (c) Deferred tax liabilities (Net) | 512 | 232 |
| 7,969 | 9.138 | |
| Current Llabllltles | ||
| (a) Financial Liabilities | ||
| (i) Borrowings | 4,027 | 817 |
| (ii) Trade payables | ||
| Total Outstanding dues to micro enterprises and small | ||
| enterprises | 118 | 121 |
| Total Outstanding dues of creditors other than micro enterprises | ||
| and small enterprises | 3.415 | 14,918 |
| (iii) Other Financial liabilities | 3,057 | 2,229 |
| (b) Other current liabilities | 845 | 537 |
| (c) Provisions | 27 | 70 |
| 11,489 | 18.692 | |
| Total-Equity & Llabllltles | 85,901 | 83.942 |
For and on behalf of the Board of Directors
~
Naveen Time MohtDirector
Place: Date: June Mumbai 07, 2021 Whole
Seamec Limited Registered office: A·901-905,9th Floor,215 Atrium Andherl·Kurla Road, Andherl (East), Mumbai 400093, India Tel: (022) 66941800 Fax: (022) 66941818
Website : www.seamec.ln CIN: L63032MH1986PLC154910
STATEMENT OF AUDITED CONSOLIDATED CASH FLOW FOR THE YEAR ENDED MARCH 31,2021
| (Rs. in lakhs except as stated) | |||
|---|---|---|---|
| Particulars | Year ended31.03.2021 | Year ended31.03.2020 | |
| (Audited) | (Audited) | ||
| Cash flows from operating activities | |||
| Profit before tax | 10,624 | 13,869 | |
| Adjustments to reconcile profit before tax to net cash flows | |||
| Depreciation of property, plant and equipment | 5.654 | 5,451 | |
| Amortisation of Intangible Assets | 2 | 10 | |
| Fair value gain on financial instrument at fair value through profit or loss | (1, 457) | (509) | |
| Provision for Doubtful Debts | 222 | 27 | |
| Profit on sale on Investment | $\bullet$ | (3)(679) | |
| Provision for doubtful debts written backGain on sale of Fixed Asset | $\bullet$$\bullet$ | (3) | |
| Bad Debts Write off | ν | 47 | |
| Other Comprehensive Income | 22 | 8 | |
| Loss on sale of Fixed Asset | 1 | ٠ | |
| Liability Written back | (281) | (149) | |
| Interest income | (1, 342) | (1.062) | |
| Dividend on Mutual Funds | (0) | (5) | |
| Short Term Capital Gain on MF | (437) | (4) | |
| Finance Charges paid | 484 | 507 | |
| Unrealised exchange (gain) / losses | 165 | 229 | |
| Working Capital: adjustments | |||
| Decrease / (Increase) in Inventories | (268) | (231) | |
| Decrease / (Increase) in Trade and other receivables and prepayments | 7,304 | 901 | |
| Increase / (Decrease) in Trade and other payable | (9,707) | 5,271 | |
| Increase / (Decrease) in Provision | 1 | (3) | |
| Cash generated from operations | 10,987 | 23,672 | |
| Direct taxes paid, net of refunds | (354) | (314) | |
| Net cash flow from operating activities (A) | 10,633 | 23,358 | |
| Cash flows from investing activities | |||
| Purchase of Property, plant and equipment including CWIP and Capital Creditors | (10, 184) | (5,910) | |
| Proceeds from sale of Property, plant and equipment | ٠ | 3 | |
| Purchase of Investment | (6.084) | (8, 205) | |
| Redemption of / (Investment in) Mutual Fund-Long Term | 2,884 | 2,568 | |
| Investment in Bank Deposits (having Original maturity more than 3 Months) | (1.697) | (8, 429) | |
| Redemption of Bank Deposits (having Original maturity more than 3 Months) | 2.271 | ÷ | |
| Profit on sale on Investment | ٠ | 3 | |
| Dividend paid | (509) | $\bullet$ ( | |
| Interest received | 860 | 716 | |
| Net cash from / (used in) investing activities (B) | (12, 459) | (19, 254) | |
| Cash flows from financing activities | |||
| Finance charges paid | (430) | (440) | |
| Long term loan taken | $\blacksquare$ | 2.308 | |
| Lease rental payment | (233) | (228) | |
| Repayment of long term borrowing | (1.496) | (1.064) | |
| Net cash from/(used in) financing activities (C) | (2, 159) | 576 | |
| Effect of exchange rate differences on translation of foreign currency cash and cash equivalents | 727 | (175) | |
| Net increase / (decrease) in cash and cash equivalents (A+B+C) | (3,985) | 4,680 | |
| Cash and Cash equivalents at the beginning of year | 1,986 | (2.519) | |
| Cash and Cash equivalents at the end of the year | (1, 272) | 1,986 | |
| Components of Cash and Cash equivalents | |||
| Cash on hand | $\circ$ | $\mathbf{0}$ | |
| Balances with Scheduled banks | |||
| - current accounts | 441 | 123 | |
| - Bank overdraft (repayable on demand) | (4,027) | (817) | |
| - foreign currency accounts | 2,314 | 2,680 | |
| Total | (1, 272) | 1,986 |
'"'"" "'"'~"··
Date: June 07, 2021 Whole Time Director
