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Servotech Renewable Power System Limited Interim / Quarterly Report 2022
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Interim / Quarterly Report
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12th November, 2021
To,
National Stock Exchange of India Limited Exchange Plaza, NSE Building, Bandra Kurla Complex, Sandra East, Mumbai-400051
Trading Symbol: SERVOTECH
Sub.: Outcome Of Board Meeting
Dear Sir /Madam,
The Board of Directors of Servotech Power Systems Limited ("Company"), upon recommendation of its Subcommittees, at its meeting held on Friday, 12th November, 2021 at 04:00 P.M at the Registered Office of the Company at 806, 8th Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi 110085 has interalia, approved the following:
-
- Un-Audited Standalone and Consolidated Financial Results together with segment wise Revenue, Results, Assets and Liabilities along with Statement of Assets and Liabilities and Cash Flow Statement of the Company for the Quarter and Half year ended 30th September, 2021 which are enclosed herewith the Limited Review Report issued by M/S. Gupta Jalan & Associates, ~bartered accountants, the Statutory auditors of the Company.
-
- Declaration of Interim Dividend of 20 pa~ se per equity share of face value of Rs. 10/- each.
It may also be noted that the amount of Interim dividend shall be credited in the respective bank accounts of eligible shareholders on or around Saturday, 11th December, 2021.
The meeting commenced at 04:00 P.M. (ISH) and concluded at 10:00 P.M. (ISH).
The aforesaid information may be treated as relevant disclosure as required under Regulation 30 or any other applicable provision of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Thanking You,
FOR SERVOTECH POWER SYSTEMS LIMITED
Servotech Power Systems Limited
CIN: L31200DL2004PLC129379
REGISTERED OFFICE: 806, 81 h Floor, Crown Heights Buildings, Near Hotel Crown Plaza, Sector-10, Rohini, New Delhi - 110085 PLANT AND R&D : 76A, Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028 Tel No : 011-41183117, •Sales : +91 9717691800, •Email : [email protected], •Website : www.servotech.in
SERVOTECH POWER SYSTEMS LIMITED Registered Office: 806, 8th Floor, Crown Heights, Crown Plaza, Sector-10, Rohini, New Delhi-110085 CIN:- L31200DL2004PLC129379, Email: [email protected]
STATEMENT OF CONSOLIDATED UN-AUDITED FINANCIAL RESULTS FOR THE HALF-YEAR ENDED 30th SEPTEMBER 2021
| (Rs. In Lacs) | ||||
|---|---|---|---|---|
| Half Year Ended | Year Ended | |||
| Sl. No. | PARTICULARS | 30 September 2021 30 September 2020 31 March 2021 | ||
| Un-Audited | Un-Audited | Audited | ||
| I. | Revenue from operations | 5143.66 | 1,708.32 | 8,799.93 |
| II. | Other income | 51.85 | 54.68 | 90.17 |
| III. | Total Revenue (I + II) | 5,195.51 | 1,763.00 | 8,890.10 |
| Expenses: | ||||
| Cost of materials consumed | 4243.1 | 1,437.22 | 7,767.00 | |
| Purchase of Stock-in-Trade | - | - | - | |
| Changes in inventories of finished goods | 66.02 | -34.00 | -334.76 | |
| IV. | Employee benefits expense | 215.38 | 166.98 | 400.54 |
| Finance costs | 138.41 | 152.72 | 277.03 | |
| Depreciation and amortisation expense | 42.2 | 41.25 | 96.14 | |
| Other expenses | 248.53 | 182.71 | 538.70 | |
| Total expenses | 4,953.64 | 1,946.88 | 8,744.65 | |
| V. | Profit before exceptional and extraordinary items and tax(III - IV) | 241.87 | -183.88 | 145.45 |
| VI. | Exceptional items | - | - | 23.25 |
| VII. | Profit before extraordinary items and tax (V - VI) | 241.87 | -183.88 | 122.20 |
| VIII. | Extraordinary items | - | - | - |
| IX. | Profit before tax (VII- VIII) | 241.87 | -183.88 | 122.20 |
| X. | Tax expense: | |||
| (1) Current tax | 63.27 | - | 30.75 | |
| (2) Deferred tax | - | - | - | |
| (3) CSR Expenses | - | - | - | |
| (4) Income Tax of Earlier Years | 8.71 | - | -0.76 | |
| XI. | Profit (Loss) for the period from continuing operations(VII-VIII) | 169.90 | -183.88 | 92.21 |
| XII. | Profit/(loss) from discontinuing operations | - | - | - |
| XIII. | Tax expense of discontinuing operations | - | - | - |
| XIV. | Profit/(loss) from Discontinuing operations (after tax) (XIIXIII) | - | - | - |
| XV. | Profit (Loss) for the period (XI + XIV) | 169.90 | -183.88 | 92.21 |
| Share of Profit /(Loss) of associates | - | - | - | |
| Minority Interest | - | - | - | |
| Net Profit/ (Loss) for the Period | ||||
| XVI. | Details of Equity Share Capital | |||
| Paid-up Equity Share Capital | 1831.79 | 1,831.04 | 1,831.04 | |
| Face Value | 10.00 | 10.00 | 10.00 | |
| Reserves excluding Revaluation Reserves as perbalance sheet of previous accounting year | - | - | - | |
| Earnings per equity share: | ||||
| XVI. | (1) Basic | 1.86 | -1.00 | 0.50 |
| (2) Diluted | 1.86 | -1.00 | 0.50 |
For and on behalf of board of Directors Servotech Power Systems Limited
Raman Bhatia Managing Director DIN: '00153827
SERVOTECH POWER SYSTEMS LIMITED Registered Office: 806, 8th Floor, Crown Heights, Crown Plaza, Sector-10, Rohini, New Delhi-110085 CIN:- L31200DL2004PLC129379, Email: [email protected]
| STATEMENT OF STANDALONE UN-AUDITED FINANCIAL RESULTS FOR THE HALF-YEAR ENDED 30th SEPTEMBER 2021 | |||
|---|---|---|---|
| -- | -------------------------------------------------------------------------------------------------- | -- | -- |
| (Rs. In Lacs) | ||||
|---|---|---|---|---|
| Half Year EndedYear Ended | ||||
| Sl. No. | PARTICULARS | 30 September 2021 30 September 2020 31 March 2021 | ||
| Un-Audited | Un-Audited | Audited | ||
| I. | Revenue from operations | 5074.89 | 1,708.32 | 8,799.93 |
| II. | Other income | 51.67 | 54.68 | 90.17 |
| III. | Total Revenue (I + II) | 5,126.56 | 1,763.00 | 8,890.10 |
| Expenses: | ||||
| Cost of materials consumed | 4185.47 | 1,437.22 | 7,767.00 | |
| Purchase of Stock-in-Trade | - | - | - | |
| Changes in inventories of finished goods | 66.02 | -34.00 | -334.76 | |
| IV. | Employee benefits expense | 213.63 | 166.98 | 400.54 |
| Finance costs | 138.36 | 152.72 | 277.03 | |
| Depreciation and amortisation expense | 42.2 | 41.25 | 96.14 | |
| Other expenses | 248.38 | 182.71 | 538.70 | |
| Total expenses | 4,894.06 | 1,946.88 | 8,744.65 | |
| V. | Profit before exceptional and extraordinary items andtax (III - IV) | 232.50 | -183.88 | 145.45 |
| VI. | Exceptional items | - | - | 23.25 |
| VII. | Profit before extraordinary items and tax (V - VI) | 232.50 | -183.88 | 122.20 |
| VIII. | Extraordinary items | - | - | - |
| IX. | Profit before tax (VII- VIII) | 232.50 | -183.88 | 122.20 |
| X. | Tax expense: | |||
| (1) Current tax | 61.66 | - | 30.75 | |
| (2) Deferred tax | - | - | - | |
| (3) CSR Expenses | - | - | - | |
| (4) Income Tax of Earlier Years | 8.71 | - | -0.76 | |
| XI. | Profit (Loss) for the period from continuing operations(VII-VIII) | 162.13 | -183.88 | 92.21 |
| XII. | Profit/(loss) from discontinuing operations | - | - | - |
| XIII. | Tax expense of discontinuing operations | - | - | - |
| XIV. | Profit/(loss) from Discontinuing operations (after tax) (XIIXIII) | - | - | - |
| XV. | Profit (Loss) for the period (XI + XIV) | 162.13 | -183.88 | 92.21 |
| Share of Profit /(Loss) of associates | - | - | - | |
| Minority Interest | - | - | - | |
| Net Profit/ (Loss) for the Period | ||||
| XVI. | Details of Equity Share Capital | |||
| Paid-up Equity Share Capital | 1831.04 | 1,831.04 | 1,831.04 | |
| Face Value | 10.00 | 10.00 | 10.00 | |
| Reserves excluding Revaluation Reserves as perbalance sheet of previous accounting year | - | - | - | |
| Earnings per equity share: | ||||
| XVI. | (1) Basic | 1.77 | -1.00 | 0.50 |
| (2) Diluted | 1.77 | -1.00 | 0.50 |
For and on behalf of board of Directors Servotech Power Systems Limited
Raman Bhatia Managing Director DIN: '00153827
Notes
-
- The Standalone & Consolidated financial results of Servotech Power Systems Limited ("Company") have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 12th November, 2021. The Statutory auditors have carried out a limited Auditors Review Report on Standalone and Consolidated Financial Statements of the company for the quarter and half-year ended 30th September, 2021, in accordance with Regulation 33 of the Securities and Exchange Board of India (Listing and other Disclosure Requirements) Regulation, 2015.
-
- The above standalone and Consolidated financial results have been prepared in accordance with the recognition and measurement principles of the accounting principles generally accepted in India including the Indian Accounting Standards prescribed under section 133 of the Companies Act,2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI ( Listing Obligation and Disclosure Requirements ) Regulations, 2015 ( as amended)
-
- The Company's primary business segment is reflected based on principal business activities carried on by Company. The Company operates in one reportable business segment i.e. single segment.
-
- World Health Organization (WHO) declared outbreak of Corona virus disease (COVID-19) a global pandemic. Consequent to this Government of India has declared lockdown i.e 24 March 2020 which is causing significant economic slowdown and disruptions of business operations. Subsequently, the second wave of COVID-19 has emerged in India, due to which various State Governments have also imposed lockdowns in various states. The Company has prepared cash flow projections top assess the cash flow requirements and funds available from various sor next 12 months. The Management has also considered the possible effects of the pandemic on the carrying values of assets and the business forecasts. The impact of the pandemic on the Company financial results may differ from that as at the date of approval of these financial results and the Management will continue to monitor any material changes arising out of future economic conditions and impact on its business.
-
- The Company has incorporated its Subsidiary namely Rebreathe Medical Devices India Private Limited on 5th July, 2021, therefore the Company is submitting both Standalone and Consolidated Financial results inter-alia containing the figures of subsidiary.
-
- The figures of the previous period have been regrouped/reclassified, wherever necessary, to render them comparable with the figures of the current period.
For and on behalf of Servotech Power Systems Limited
Raman Bhatia Manging Director DIN: 00153827
Date: 12th November, 2021 Place: New Delhi
| (Rs. In Lacs) | ||||
|---|---|---|---|---|
| Half Year Ended | Year Ended | |||
| Sl. No. | Particulars | 30 September 2021 30 September 2020 31 March 2021 | ||
| Un-Audited | Un-Audited | Audited | ||
| I | EQUITY AND LIABILITIES | |||
| Shareholders' funds | ||||
| (a) Share capital | 1831.79 | 1,831.04 | 1,831.04 | |
| 1 | (b) Reserves and surplus | 2114.58 | 1,668.59 | 1,944.68 |
| (c) Money received against share warrants | 0 | - | - | |
| Total Shareholder's Fund | 3,946.38 | 3,499.63 | 3,775.72 | |
| 2 | Share application money pending allotment | - | - | - |
| Deferred Government Grants | - | - | - | |
| Minority Interest | - | - | - | |
| Non-current liabilities | ||||
| (a) Long-term borrowings | 856.21 | 425.01 | 503.11 | |
| (b) Deferred tax liabilities (Net) | 9.80 | 11.07 | 11.07 | |
| 3 | (c) Foreign Currency Monitory item transaction difference | - | - | - |
| Liability Account | ||||
| (d) Other Long term liabilities | 1.20 | 1.00 | 1.00 | |
| (e) Long-term provisions | 139.24 | 232.65 | ||
| Total Non Current Liabilities | 1,006.44 | 669.73 | 515.18 | |
| Current liabilities | ||||
| (a) Short-term borrowings | 1022.82 | 1,862.22 | 2,011.66 | |
| (b) Trade payables(A) Total outstanding dues of micro enterprises and small | 3302.85 | 1,568.20 | ||
| 4 | enterprises; | - | 71.88 | 56.49 |
| (B) total outstanding dues of creditors other than micro | ||||
| enterprises and small enterprises. | - | 1,496.32 | 2,287.24 | |
| (c) Other current liabilities | 333.61 | 66.75 | 813.67 | |
| (d) Short-term provisions | 63.27 | 27.15 | 30.75 | |
| Total Current Liabilities | 4,722.56 | 3,524.32 | 5,199.81 | |
| Total Equity and Liability | 9,675.38 | 7,693.68 | 9,490.71 | |
| II. | ASSETS | |||
| Non-current assets | ||||
| (a) Fixed assets | ||||
| (i) Tangible assets | 802.27 | 804.14 | 739.45 | |
| Producing Properties | - | - | - | |
| (ii) Intangible assets | - | - | - | |
| Preproducing Properties | - | - | - | |
| 1 | (iii)Tangible Asset Capital work-in-progress | - | - | - |
| (iv) Intangible assets under development or work-in | ||||
| progress | - | - | - | |
| Total Fixed Assets | 802.27 | 804.14 | 739.45 | |
| (a) Non-current investments | - | - | - | |
| (b) Deferred tax assets (net) | - | - | - | |
| (c) Foreign Currency Monitory item transaction Diffrence | - | - | - | |
| Liability Account | ||||
| (d) Long-term loans and advances | 674.14 | 106.91 | 46.14 | |
| (e) Other non-current assets | 417.30 | 860.65 | 1,088.93 | |
| 2 | Total Non Current Asset | 1,091.44 | 1,771.69 | 1,135.07 |
| Current assets | ||||
| (a) Current investments | - | - | - | |
| (b) Inventories | 1549.41 | 1,093.35 | 1,525.88 | |
| (c) Trade receivables | 5128.11 | 4,310.64 | 5,057.76 | |
| (d) Cash and cash equivalents | 295.12 | 356.95 | 339.34 | |
| (e) Bank Balance and Other than Cash | - | - | ||
| (f) Short-term loans and advances | 809.04 | 161.03 | 693.21 | |
| (e) Other current assets | - | - | ||
| Total Current AssetsTotal Asset | 7,781.689,675.38 | 5,921.977,693.68 | 7,616.199,490.71 | |
STATEMENT OF CONSOILDATED UNAUDITED ASSETS AND LIABILITIES SERVOTECH POWER SYSTEMS LIMITED Registered Office: 806, 8th Floor, Crown Heights, Crown Plaza, Sector-10, Rohini, New Delhi-110085 CIN:- L31200DL2004PLC129379, Email: [email protected]
For and on behalf of board of Directors Servotech Power Systems Limited
SERVOTECH POWER SYSTEMS LIMITED
Registered Office: 806, 8th Floor, Crown Heights, Crown Plaza, Sector-10, Rohini, New Delhi-110085 CIN:- L31200DL2004PLC129379, Email: [email protected]
| (Rs. In Lacs) | ||||
|---|---|---|---|---|
| Half Year EndedYear Ended | ||||
| Sl. No. | Particulars | 30 September 2021 30 September 2020 31 March 2021 | ||
| Un-Audited | Un-Audited | Audited | ||
| I | EQUITY AND LIABILITIES | |||
| Shareholders' funds | ||||
| (a) Share capital | 1831.04 | 1,831.04 | 1,831.04 | |
| 1 | (b) Reserves and surplus | 2106.81 | 1,668.59 | 1,944.68 |
| (c) Money received against share warrants | - | - | ||
| Total Shareholder's Fund | 3,937.85 | 3,499.63 | 3,775.72 | |
| 2 | Share application money pending allotment | - | - | - |
| Deferred Government Grants | - | - | - | |
| Minority Interest | - | - | - | |
| Non-current liabilities | ||||
| (a) Long-term borrowings | 855.21 | 425.01 | 503.11 | |
| (b) Deferred tax liabilities (Net) | 9.80 | 11.07 | 11.07 | |
| 3 | (c) Foreign Currency Monitory item transaction Diffrence | |||
| Liability Account | - | - | - | |
| (d) Other Long term liabilities | 1.20 | 1.00 | 1.00 | |
| (e) Long-term provisions | 139.24 | 232.65 | ||
| Total Non Current Liabilities | 1,005.45 | 669.73 | 515.18 | |
| Current liabilities | ||||
| (a) Short-term borrowings | 1022.82 | 1,862.22 | 2,011.66 | |
| (b) Trade payables | 3302.85 | 1,568.20 | ||
| (A) Total outstanding dues of micro enterprises and small | - | 71.88 | 56.49 | |
| 4 | enterprises; | |||
| (B) total outstanding dues of creditors other than microenterprises and small enterprises. | - | 1,496.32 | 2,287.24 | |
| (c) Other current liabilities | 333.15 | 66.75 | 813.67 | |
| (d) Short-term provisions | 61.66 | 27.15 | 30.75 | |
| Total Current Liabilities | 4,720.48 | 3,524.32 | 5,199.81 | |
| Total Equity and Liability | 9,663.78 | 7,693.68 | 9,490.71 | |
| II. | ASSETS | |||
| Non-current assets | ||||
| (a) Fixed assets | ||||
| (i) Tangible assets | 802.27 | 804.14 | 739.45 | |
| Producing Properties | - | - | - | |
| (ii) Intangible assets | - | - | - | |
| Preproducing Properties | - | - | - | |
| (iii)Tangible Asset Capital work-in-progress | - | - | - | |
| 1 | (iv) Intangible assets under development or work-in | |||
| progress | - | - | - | |
| Total Fixed Assets | 802.27 | 804.14 | 739.45 | |
| (a) Non-current investments | - | - | - | |
| (b) Deferred tax assets (net) | - | - | - | |
| (c) Foreign Currency Monitory item transaction difference | ||||
| Liability Account | - | - | - | |
| (d) Long-term loans and advances | 674.14 | 106.91 | 46.14 | |
| (e) Other non-current assets | 417.30 | 860.65 | 1,088.93 | |
| Total Non Current Asset | 1,091.44 | 1,771.69 | 1,135.07 | |
| 2 | Current assets | |||
| (a) Current investments | - | - | ||
| (b) Inventories | 1549.41 | 1,093.35 | 1,525.88 | |
| (c) Trade receivables | 5152.92 | 4,310.64 | 5,057.76 | |
| (d) Cash and cash equivalents | 293.59 | 356.95 | 339.34 | |
| (e) Bank Balance and Other than Cash | 0 | - | ||
| (f) Short-term loans and advances | 774.16 | 161.03 | 693.21 | |
| (e) Other current assets | - | - | - | |
| Total Current Assets | 7,770.08 | 5,921.97 | 7,616.19 | |
| Total Asset | 9,663.78 | 7,693.68 | 9,490.71 |
STATEMENT OF STANDALONE UNAUDITED ASSETS AND LIABILITIES
For and on behalf of board of Directors
Servotech Power Systems Limited
RAMAN BHATIA Digitally signed by RAMAN BHATIA DN: c=IN, st=Delhi, 2.5.4.20=400095bb5f9cb07819642223b31345ea f26be73724cf831908ac2f70a1f9a6bc, Floor,Sector-11,Rohini Sector 7, o=Personal, cn=RAMAN BHATIA, pseudonym=00305d44024b9a29f171d798449e
Raman Bhatia Managing Director DIN: '00153827
SERVOTECH POWER SYSTEMS LIMITED
CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER 2021
| PARTICULARS----------------------------- | FOR THE HALF YEARENDED30th September 2021--------------------- | FOR THE YEAR ENDED31st MARCH 2021--------------------- |
|---|---|---|
| A. CASH FLOW FROM OPERATING ACTIVITIES | ||
| Net Profit before tax | 2,41,87,991 | 1,22,19,990 |
| Adjustments For : | ||
| Depreciation and amortization expense | 42,20,356 | 96,14,353 |
| Interest paid | 1,38,41,497 | 2,77,03,233 |
| Interest income | (6,95,321) | (13,10,603) |
| Loss/ (profit) on sale of fixed assets | (55,392) | (2,22,324) |
| Corporate Social responsibility | - | - |
| Operating Profit before Working Capital Changes | 4,14,99,131 | 4,80,04,648 |
| Adjustments For : | ||
| (Increase)/ Decrease in trade receivables | (70,35,400) | (7,31,89,435) |
| (Increase)/ Decrease in inventories | (23,52,649) | (6,16,53,521) |
| (Increase)/Decrease in other current assets | (1,14,54,185) | (1,29,70,375) |
| Increase/ (Decrease) in trade payables | 9,59,12,142 | 6,20,95,024 |
| Increase/ (Decrease) in other current liabilities | (2,93,55,010) | 2,52,94,360 |
| Adjustment for provision | 31,24,969 | 2,32,136 |
| Cash generated From Operating Activities | 9,03,38,999 | (1,21,87,161) |
| Less: Direct Tax Paid(refund) | 71,97,869 | 29,99,192 |
| Net cash generated from/ (used in) operating activities | 8,31,41,130 | (1,51,86,353) |
| B. CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase of tangible assets | (1,07,01,774) | (15,08,533) |
| Proceeds from sales of tangible assets | 1,26,540 | 25,70,767 |
| Interest received | 6,95,321 | 13,10,603 |
| Decrease/ (Increase) in Long Term Loan & Advances | (6,27,99,656) | 60,76,711 |
| Decrease/ (Increase) in Other non current assets | 6,71,63,702 | (2,33,05,722) |
| Net Cash Generated from (used in) Investing Activities | (55,15,867) | (1,48,56,174) |
| C. CASH FLOW FROM FINANCING ACTIVITIES | ||
| Proceeds from issuing of Shares | 75,000 | - |
| Proceeds/(Repayment) of Borrowings | (6,35,73,695) | 6,44,45,420 |
| Interest paid | (1,38,41,497) | (2,77,03,233) |
| Increase/(Decrease) in Long Term Liabilities | (47,07,392) | (42,03,037) |
| Net Cash Generated from (used in) Financing Activities | (8,20,47,584) | 3,25,39,151 |
| I Total increase (decrease) in cash and cash equivalents during the year(A+B+C) | (44,22,321) | 24,96,624 |
| II Cash and cash equivalents at beginning of year | 3,39,34,048 | 3,14,37,424 |
| III Cash and cash equivalents as at end of the year (I+II) | 2,95,11,727 | 3,39,34,048 |
for and on behalf of the Board
Raman Bhatia (Managing Director) DIN-00153827 RAMAN BHATIA DN: c=IN, st=Delhi, 5eaf26be73724cf831908ac2f70a1f9a6bc, postalCode=110085, street=F1/48-49,1st
Place: Delhi Dated : 12th Nov, 2021
SERVOTECH POWER SYSTEMS LIMITED
STANDALONE CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER,2021
| PARTICULARS----------------------------- | FOR THE HALF YEARENDED30th September 2021--------------------- | FOR THE YEAR ENDED31st MARCH 2021--------------------- | |
|---|---|---|---|
| A. CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net Profit before tax | 2,32,50,082 | 1,22,19,990 | |
| Adjustments For : | |||
| Depreciation and amortization expense | 42,20,356 | 96,14,353 | |
| Interest paid | 1,38,36,432 | 2,77,03,233 | |
| Interest income | (6,95,321) | (13,10,603) | |
| Loss/ (profit) on sale of fixed assets | (55,392) | (2,22,324) | |
| Corporate Social responsibility | - | - | |
| Operating Profit before Working Capital Changes | 4,05,56,156 | 4,80,04,648 | |
| Adjustments For : | |||
| (Increase)/ Decrease in trade receivables | (95,16,314) | (7,31,89,435) | |
| (Increase)/ Decrease in inventories | (23,52,649) | (6,16,53,521) | |
| (Increase)/Decrease in other current assets | (79,66,909) | (1,29,70,375) | |
| Increase/ (Decrease) in trade payables | 9,59,12,142 | 6,20,95,024 | |
| Increase/ (Decrease) in other current liabilities | (2,94,01,064) | 2,52,94,360 | |
| Adjustment for provision | 29,64,024 | 2,32,136 | |
| Cash generated From Operating Activities | 9,01,95,387 | (1,21,87,161) | |
| Less: Direct Tax Paid(refund) | 70,36,923 | 29,99,192 | |
| Net cash generated from/ (used in) operating activities | 8,31,58,464 | (1,51,86,353) | |
| B. CASH FLOW FROM INVESTING ACTIVITIES | |||
| Purchase of tangible assets | (1,07,01,774) | (15,08,533) | |
| Proceeds from sales of tangible assets | 1,26,540 | 25,70,767 | |
| Interest received | 6,95,321 | 13,10,603 | |
| Decrease/ (Increase) in Long Term Loan & Advances | (6,27,99,656) | 60,76,711 | |
| Decrease/ (Increase) in Other non current assets | 6,71,63,702 | (2,33,05,722) | |
| Net Cash Generated from (used in) Investing Activities | (55,15,867) | (1,48,56,174) | |
| C. CASH FLOW FROM FINANCING ACTIVITIES | |||
| Issue of Share Capital / Share Application Money | - | - | |
| Share Premium Account including reserves | - | - | |
| Proceeds from Secured & Unsecured loans | (6,36,73,695) | 6,44,45,420 | |
| Interest / Financial Charges | (1,38,36,432) | (2,77,03,233) | |
| Increase/(Decrease) in Long Term Liabilities | (47,07,392) | (42,03,037) | |
| Net Cash Generated from (used in) Financing Activities | (8,22,17,519) | 3,25,39,151 | |
| I Total increase (decrease) in cash and cash equivalents during the year | (45,74,921) | 24,96,624 | |
| (A+B+C) | |||
| II Cash and cash equivalents at beginning of year | 3,39,34,048 | 3,14,37,424 | |
| III Cash and cash equivalents as at end of the year (I+II) | 2,93,59,127 | 3,39,34,048 |
for and on behalf of the Board DN: c=IN, st=Delhi,
Raman Bhatia (Managing Director) DIN-00153827 RAMAN BHATIA 3724cf831908ac2f70a1f9a6bc, postalCode=110085, street=F1/48-49,1st Floor,Sector-11,Rohini Sector 7, serialNumber=2712cd863db2482c834a81335afec5aa9
Place: Delhi Dated : 12th Nov,2021
CHARTERED ACCOUNT ANTS
Independent Auditor's Review Report on Un-audited Half Yearly Consolidataed Financial Results of Servotech Power System Limited in Pursuant to the Regulation 33 of the SEBI (Li sting Obligation and Disclosure Requirements) Regulations, 2015
To,
The Board of Directors of, Servotech Power Systems Limited
We have reviewed the accompanying statement of unaudited consolidated financial results of Servotech Power System Limited ("holding company and its subsidiary Rebreathe Medical Devices India Pvt. Ltd") together referred to as the group for the half year ended 30th September, 2021 ("the statement"), being submitted by the company pursuant to the requirem ent of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 , as modified by Circular No, CIR/CFD/CA Dl/44/2019 Dated 29th March, 2019 .
Th is statement is the responsibillty of th e Com pany' s Management and has been approved by th e Board of Directors, has been prei:>ared in accoq:lance with the recognition and measurem ent principles laid down In Accounting St andard 25 l11totlm financial reporting (AS 25), prescribed under section 133 of tt:le Companies Act, 2013, rea d with relevant rules iss ued there under and other accounting P.flnci ples generally accepted ln,indl a. O~ rresponsibility is to issue a re·port on these fina ncial statements b·ased on our review.
We conducted our review in accordano-e with the . Standard on Review Engagement (SRI::} 2410, Review of lmterim Financial lnforrryatio n Performed l:>y the Independent Auditor of th Entity, issued by the lnstit t e of Chartered Account ci nts of India. Thi tandard requires that we plan and perform the review to obtain moderate assurance as to w hether the financial statements are free of ma.terial misstatement . A revi,ew Is limited ' IDrimarlly to inquirjes of company personnel and analytical procedures appl ied , o flnancial data :, ·a:nd thus provide less assurance than an audit. We have not performed an audit and accordingly, we cio not express an audit opinion.
Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying statement, Prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as modified by
Circular No. CIR/CFD/CMD 1/44/2019 Dated 29th March, 2019 of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed or that it contains any material misstatement.
405, Crown Heights (Hotel Crowne Plaza Complex), Plot No. 38/1, Twin District Centre, Sector-10, Rohini, Delhi-110 085 Ph.: 011-27043878, 27053878, E-mail: [email protected], Website: www.guptajala~.com
CHARTERED ACCOUNTANTS
We did not audit the financial statement of above mentioned Jointly controlled entities (3Vs) whose financial statements reflect total assets of Rs.967537750/- as at 30*h September, 2021 & total revenues of Rs.519551260/- for the half year ended on that date, as considered in the consolidated financial statements. These financial results have been furnished tb us by the management and our opinion on the consolidated financial results, in so far it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors.
We did not audit the financial statement of above mentioned subsidiaries whose financial statements reflect total assets of Rs7836094/- as at 30th September, 2021 & total revenues of Rs.6895107/- for the half year ended on that date, as considered in the consolidated financial statements. These financial results have been furnished to us by the management and our opinion on the consolidatec! financial results, in so far it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors.
We have reviewed the fi nancial results and other nformation presented in accordance with Accounting Standard 25, Interim Financial reporting· (AS 45) for the half yearly ended 30th September, 2021 and h)lVe been presented solely on the oasis of information compl ied by management.
Our opinion on tlfte tement is not modified, in respect oJ the above matter with respect to our reliance on the ·y..iork done and the reports of the ot her auditors. _
As per our report ann xed
For GUPTA JALAN & ASSO~ ATES Chartered Accountants FRN NO. 003721N
Partner M.No. 082389
CHARTERED ACCOUNTANTS
Independent Auditor's Review Report on Un-audited Half Yearly Standalone Financial Results of Servotech Power System Limited in Pursuant to the Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
To,
The Board of Directors of, Servotech Power Systems Limited
We have reviewed the accompanying statement of unaudited Standalone financial results of Servotech Power System Limited t"the c.9mpany") for the half year ended 30*h September, 2021 ("the statement"}, being submitte<;I bV the .company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/Ck. Dl/44/2019 Dated 29th Mar'ch, 2019.
This state ment is the responsibility of the Company's Mahagem ent and has been approved by the Boa rd of Directors, has been prepared in accordance with the recognition and measurement princlples laid down in Accounting Standard 25 Interim financial r p0rting (AS 25), prescribed under section 133 6 the Companies Aet;, 2013, read with relevant >rules issued there under and other accounting principles generally a cepted in India. Our resp0nsibility is to issue a report on these financial statements ba se · 0.1"1 0.1..!r review.
We conducted our review in accordance wit h the Standard· :an Review Engagement (SRE} 2410, Review of Interim Financial Information Perforr:ned by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion .
Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying statement, Prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not Requirements)
405, Crown Heighs (Hotel Crowne Plaza Complex) Plot.No. 38/1, Twin District Centre, Sector-10, Rohini, Delhi-110 085 Ph .. 011-27043878, 27053878, E-mail: [email protected], Website: www.guptajalan.com
Circular No. CIR/CFD/CMD 9t1!}J~~eq~~QPTftf{;~udited financial results prepared in accordance ~ith applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed or that it contains any material misstatement.
The financial statement of above mentioned entity (3Vs) whose financial statements reflect total assets of Rs.966378787/- as at 30th September, 2021 & total revenues of Rs.512656154/- for the half year ended on that date,
We have reviewed the financial results and other information presented in accordance with Accounting Standard 25 Interim Financial reporting (AS 25) for the half yearly ended 30th September, 2021 and have been presented solely on the basis of information complied by management.
Our opinion on the statement is not modified in respect of the above matter with respect to our reliance on the work done and the reports of the other auditors.
As per our report annexed
For GUPTA JALAN & ASSOCIATES Chartered Accountants FRN NO. 00372iN
CA ~ Ram Niwas Jalan Par fler M.No. 082389
Place: Delhi The ] J_ l h day of t ) ' UDIN : :<_,0)5 > ~~~A f\A
405, Crown Heights (Hotel CroWne Plaia Complex), Plot No. 38/1, Twin District Centre, Sector-10, Rohini, Delhi-110 085 Ph.: 011-27043878, 27053878, E-mail: [email protected], Website: www.guptajalaQ.com