Shiva Suitings Ltd. — Annual Report 2022

May 27, 2022

SHIVA SUITINGS LIMITED

Regd. Off, :384-M, DABHOLKAR WADI, 3" FLOOR, KALBADEVI ROAD, MUMBAI — ⁴⁰⁰⁰⁰² CIN : L17110MH1985PLC038265 Tele. : (91-22) 2200 4849 (91-22) 2208 ⁷¹⁷⁰ Email:investor@shivasuitings.comWebsite: www.shivasuitings.com

Date: 27.05.2022

To, Corporate Relationship Department, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai — 400001.

Scrip Code: 521003

Dear Sir/Ma'am,

Subject: Compliance with the Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Requlations, 2015 for the Quarter and Financial year ended March 31, 2022:

Pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the following:

• 1. Audited Financial Results as per Schedule Ill of securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the year ended 31* March, 2022;
• 1. Independent Auditor's Report;
• 1. Statement of Assets and Liabilities as at 31° March, 2022;
• 1. Declaration in respect of Unmodified Opinion on Audited Financial Statements for the Financial Year ended 31* March, 2022;
• 1. Cash Flow Statements for the period ended 31* March, 2022.

Kindly take the same on your record and oblige.

Thanking you,

Yours faithfully,

For Shiva Suitings Ltd

Bharat Tulsani Company Secretary and Compliance Officer Membership No: A56425

Cs ~~ P R AGARWAL & AWASTHI

CHARTERED ACCOUNTANTS

REGD. OFFICE : 42, GOPAL BHAVAN, 199, PRINCESS STREET, MUMBAI - 400 002. PHONE : 220 93908 * FAX : 022-220 89133 + E-mail : info@pawanca.com URL : www.pawanca.com

Independent Auditors' Report on Quarterly and Year-to-Date Audited Standalone Financial Results of Shiva: Suitings Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Shiva Suitings Limited

Opinion . a we . si wa si

We have audited the accompanying Statement of quarterly and year-to-date Standalone Financial Results of Shiva Suitings Limited ("the Company") for the quarter and year ended March 31°, 2022 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 ('the Regulation') as amended.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial results:

a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2022.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements 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 we have obtained, is sufficient and appropriate to provide a basis for our opinion on the Standalone annual financial results.

Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual 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 the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act 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 the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone annual financial results, the Management and 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 responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual 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 annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and ot tain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• @ Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3}(i) of the Act, we are also responsible for . expressing our opinion through a separate report on the complete set of standalone financial statements on whether the company has adequate internal financial controls with reference to standalone 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 in the standalone annual financial results made by the Management and Board of Directors.
• e Conclude on the appropriateness of the Management and 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 appropriateness of this assumption. I we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone annual 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,

• e Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
• e Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company to express an opinion on the Standalone Financial Results.

Materiality is the magnitude of misstatements in the Standalone Financial Results that, indivi idually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Results.

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 deticiencies in inter nal 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.

For P.R. Agarwal & Awasthi ced Accountants egistration No.: 117940W

auwen ler eagartOay

CA Pawan KR. Agarw? Partner Membership No. 034147

UDIN No. : 22034147AJSSLU2551

PLACE: MUMBAI DATE: May 27, 2022.

SHIVA SUITINGS LIMITED

Regd. Off. : 384-M, DABHOLKAR WADI, 389 FLOOR, KALBADEVI ROAD, MUMBAI — 400002 CIN : L17110MH1985PLC038265 Tele. : (91-22) 2200 4849 (91-22) 2208 7170

	Statement of Audited Financial results for the quarter and year ended 31st March, 2022
				Amount (Rs. In Lakhs) except EPS
			Quarter Ended			Year ended
INo.	PARTICULARS	Audited	UnAudited	Audited	31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021 Audited	Audited
	1 REVENUE FROM OPERATIONS
2.	(A) NET SALES/INCOME FROM OPERATIONS	44.34	49.34	38.54	233.28	371.75
	(B) OTHER INCOME	:	:	0.46	0.22	0.70
	TOTAL INCOME FROM OPERATIONS:	44.34	49.34	39,00	233.50	372.45
3.	JEXPENSES
	(A) COST OF MATERIALS CONSUMED	-	-		:
	(B) PURCHASES	52.19	52,12	33.66	220.55	340.57
	(C) (INCREASE) / DECREASE IN STOCK IN TRADE (D) DEPRECIATION	(22.03)		(1.63)	(17.55)	(2.20)
	(E) EMPLOYEE BENEFIT EXPENSES	3.41	1,52	1.49	- 10.07	5.33
	(F) OTHER EXPENDITURE	4.63	0.56	9.02	11.47	17.70
	(G) Finance costs				:
	TOTAL EXPENSES PROFIT (LOSS) FROM ORDINARY ACTIVITIES	38.20	54.20	42.54	224.54	361.40
	BEFORE FINANCE COSTS & EXCEPTIONAL ITEMS (3-
4	[4	6.14	(4.86)	(3.54)	8.96	11.05
	[PROFIT 7(LOSS) AFTER FINANCE COSTS AND
5	[BEFORE EXCEPTIONAL ITEMS (4-5)	6.14	(4.86)	(3.54)	8.96	11.05
6	EXCEPTIONAL ITEMS PROFIT (LOSS) FROM ORDINARY ACTIVITIES
7	[BEFORE TAX (6-7)	6.14	(4.86)	(3.54)	8.96	11.05
8	PROVISION FOR TAX
	(A) PROVISION FOR CURRENT TAX (B) PROVISION FOR EARLIER YEAR TAXES	0.90 2.17	(0.97)	(1.08)	1.47 2.17	1.84
	IC) MAT CREDIT ENTITLEMENT	0.93	:	- 1.15	0.93	11S
9	TOTAL TAX EXPENSES	4.00	(0.97)	0.07	4.57	2.99
	INET PROFIT AFTER TAX FROM ORDINARY 10 JACTIVITIES (8-9)	2.14	(3.89)	(3.61)	4.39	8.06
11	[EXTRAORDINARY ITEMS
	12 NET PROFIT AFTER TAX FOR THE PERIOD (10-11)	2.14	(3.89),	(3.61),	4.39	8.06
	13 JOTHER COMPREHENSIVE INCOME / (LOSS) {TOTAL COMPREHENSIVE INCOME / (LOSS) AFTER	:	:		=
	14 TAXES (12+13)	2.14	(3.89)	(3.61)	4.39	8.06
	PAID UP EQUITY SHARE CAPITAL (Face Value of Rs.10/-
	15 Jeach) 16 JRESERVES (Excluding Revaluation Reserves)	155.04 -	155.04 -	155.04	155.04	155.04
	EARNING PER SHARE (Not Annualised, Face Value Rs.10/-				-	-
	17 feach) BASIC AND DILUTED EPS (Rs.) (Bef \odrdinary				s	=
	ee cs (8) BASIC AND DILUTED EPS (Rs,) (Atter extraodrdinary	0.14	(0.25)	(0.23)	0.28	0.52
	items)	0.14	(0.25)	(0.23)	0.28	0.52

Notes:

1 These financial results have been prepared in accordance with IND AS and the recognition and measurement principles laid down in Ind AS-34 Interim financial reporting prescribed under section 133 of the Companies Act, 2013 read with relevant Tules issued thereunder.

²The Statutory Auditors have carried out limited review of the Audited financial results of the Company for the quarter and yearended 31st March,2022

3 The above financial results for the quarter ended 31st March,2022 were reviewed by the Audit Committee and thereafter taken on record by the Board of Directors in its meeting held on 27.05.2022

4 As per the requirements of Ind AS no disclosure is required as the Company is operating in only one segment i.e Textiles 5 Previous years figures have been re-grouped and re-classified wherever necessary to make them comparable.

By the Order of Board Place : Mumbai for SHIVA SUITINGS LIMITED Date : 27.05.2022 ' al Director

SHIVA SUITINGS LIMITED

Regd. Off. : 384-M, DABHOLKAR WADI, 382 FLOOR, KALBADEVI ROAD, MUMBAI — 400002 CIN : L17110MH1985PLC038265 Tele. : (91-22) 2200 4849 (91-22) 2208 7170

SHIVA SUITINGS LIMITED

CIN : L17110MH1985PLC038265

	SHIVA SUITINGS LIMITED
	CIN : L17110MH1985PLC038265
	Statement of Assets and Liabilities as at 31st March, 2022
			( Amount in Rs.)
	Particulars	31st March, 2022	31st March, 2024
A.	ASSETS
1	Current assets
	a)Inventories	22,03,880	4,48,000
	b)Financial Assets (i)Trade receivables	99,69,365	1,24,72,925
	(ii)Cash and cash equivalents	3,09,910	43,948
	c)Current Tax Asset	56,83,354	59,65,940
	d)Other Current Assets	11,32,004	2,74,951
		1,92,98,512	1,92,05,765
	TOTAL
	EQUITY AND LIABILITIES	1,92,98,512	1,92,05,765
B. 1	Equity
	Equity Share capital a)	1,55,03,950	1,55,03,950
	Other Equity b)	32,99,245	28,59,874
		1,88,03,195	1,83,63,824
	Liabilities Current liabilities
2	(a)Financial Liabilities
	(i)Trade payables	-	-
	(b)Other Current liabilities	3,48,717	6,67,032
	(c) Current Tax Liabilities	1,46,600	1,74,909
		4,95,317	8,41,941
	TOTAL	1,92,98,512	1,92,05,765

For sry f just

Director

SHIVA _SUITINGS LIMITED (CIN : L17110MH1985PLC038265)

CASH FLOW STATEMENT FOR THE YEAR ENDED 34st March, 2022

	LIMITED (CIN L17110MH1985PLC038265) SHIVA _SUITINGS
	:
	STATEMENT FLOW YEAR ENDED CASH FOR THE	34st March, 2022
	Particulars	Rs.	Rs.
	A) CASH FLOW FROM OPERATING ACTIVITIES
	NET PROFIT BEFORE TAX	8,95,676	11,05,500
	Add/(less)
	Prior Period Adjustment	(2,19,399)
	Sale of Fixed Assets WORKING CAPITAL CHANGES OPERATING BEFORE PROFIT	- 6,76,277	- 11,05,500
	Adjustment for :
	Inventory Receivables Trade and other	(17,55,880) 25,03,560	(2,20,009) 1,13,33,551
	Trade Payables & Provisions	-	(1,27,50,165)
	Other Liabilities Loans and Advances	(3,18,315) a	5,73,686 -
	Other Advances	(8,57,052)	(1,20,281)
	Cash Generation from Operations	2,48,590	(77,718)
	Less : Direct Taxes paid	17,372	(9,069)
	FROM OPERATING NET CASH ACTIVITIES (A)	2,65,962	(86,787)
B)	FROM FLOW INVESTING ACTIVITIES CASH
	Interest Income	-
	Purchase / Sale of Fixed Assets/ Investment FROM FLOW INVESTING NET CASH ACTIVITIES (B)	- :	2
C)	FLOW FROM FINANCING CASH ACTIVITIES
	Receipt of Calls in arrears FINANCING ACTIVITIES USED NET CASH IN [C]	- -	- -
	AND CASH EQUIVALENT INCREASE CASH NET IN	2,65,962	(86,789)
	EQUIVALENTS AS AT THE COMMENCEMENT OF THE YEAR CASH & CASH	43,948	1,30,737
	EQUIVALENTS AS AT THE END OF THE YEAR & CASH CASH	3,09,910	43,948

Director