Shree Manufacturing Co. Ltd. — Annual Report 2021

Jun 22, 2021

SHREE MANUFACTURING COMPANY LIMITED

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Registered Office: Suite# 712, Prasad Chambers Opera House, Mumbai, 400004 Email: shreemanufacturing@hotmail.com Website: www.smcl.in; Phone: 022-66631999 CIN: L36999MH1976PLC286340

Date: 22[nd] June, 2021

To

The Manager Department of Corporate Services BSE Ltd. Dalal Street, Fort Mumbai – 400 001

Sub. - : Outcome of Board Meeting Ref. -: Scrip Code - 503863

Dear Sir / Madam,

The Board of Directors of the Company in its Meeting held on 22[nd] June, 2021, has considered and approved the following:

1. Approved the Audited financial results for the quarter and year ended 31[st] March 2021. As per Regulation 33 of Listing Regulations, the Financial Results, statement of Assets & Liabilities and Audited Report with Declaration of Non Applicability for Statement of Impact of Audit Qualification.

2. Appointment of Payal Tachak & Associates, Practising Company Secretary as the Secretarial Auditor of the Company for the Financial Year 2020-2021.

3. Appointment of Mr. Vishal Chavda as the Internal Auditor of the Company for the Financial Year 2021-22.

Kindly take the same on your records and acknowledge the receipt.

Thanking you,

Yours faithfully,

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Encl: As above

SHREE MANUFACTURING CO LTD

CIN: L36999MH1976PLC286340

Registered Office: Suite# 712, Prasad Chambers Opera House Mumbai 400004 Statement of Standalone Audited Results for the Quarter and year ended 31/03/2021

				(Rs. In Lacs/amount)	(Rs. In Lacs/amount)	(Rs. In Lacs/amount)
		Quarter Ended			Year Ended
	Particulars	3 months ended 31/03/2021	Preceding 3 months ended 31/12/2020	Corresponding 3 months ended in the previous year 31/03/2020	Year to date figure for current period 31/03/2021	Year to date figure for the previous year ended 31/03/2020
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
I	Revenue From Operations	0.00	-	-	0.00	-
II	Other Income	14.00	-	-	14.00	-
III	Total Income (I+II)		-	-		-
IV	Expenses
	Cost of Materials Consumed	-	-	-	-	-
	Purchases of Stock-in-Trade	-	-	-	-	-
	Changes in inventories of finished goods, Stock-in-Trade and work-inprogress	-	-	-	-	-
	Employee benefits expense	0.66	0.66	0.15	2.30	1.06
	Finance Costs	14.76	-	12.56	14.76	12.56
	Depreciation and amortisation expenses	-	-	-	-	-
	Other Expenses	1.83	0.19	0.75	7.35	11.62
	Total Expenses (IV)	17.25	0.85	13.46	24.41	25.24
V	Profit/(loss) before exceptional items and tax(I-IV)	-3.25	-0.85	-13.46	-10.41	-25.24
VI	Exceptional Items	-	-	-	-	-
VII	Profit/ (loss) before exceptions items and tax(V-VI)	-3.25	-0.85	-13.56	-10.41	-25.24
VIII	Tax Expense:
	(1) Current Tax	-	-	-	-	-
	(2) Deferred Tax	-	-	-	-	-
IX	Profit/(Loss) for the period from continuing operations(VII-VIII)	-3.25	-0.85	-13.46	-10.41	-25.24
X	Profit/(Loss) from discountinued operations	-	-	-	-	-
XI	Tax expenses of discontinued operations	-	-	-	-	-
XII	Profit/(Loss) from discontinued operations (after tax) (X-XI)			-	-	-
XIII	Profit/(Loss) for the period (IX+XII)	-3.25	-0.85	-13.46	-10.41	-25.24
XIV	Other Comprehensive Income
	A. (i) Items that will not be reclassified to profit or loss	-	-	-	-	-
	(ii) Income tax relating to items that will not be reclassified to profit or loss	-	-	-	-	-
	B. (i) Items that will be reclassified to profit or loss	-	-	-	-	-
	(ii) Income tax relating to items that will be re classified toprofit or loss	-	-	-	-	-
XV	Total Comprehensive Income for the period (XIII+XIV) Comprising Profit (Loss) and Other Comprehensive Income for the period)	-3.25	-0.85	-13.46	-10.41	-25.24
XVI	Earnings per equity (for Continuing operation):
	(1) Basic	0.00	0.00	0.00	0.00	0.00
	(2) Diluted	0.00	0.00	0.00	0.00	0.00
XVII	Earnings per equity (for discontinued operation)
	(1) Basic	-	-	-	-	-
	(2) Diluted	-	-	-	-	-
XVIII	Earning per equity share (for discontinued & continuingoperation)
	(1) Basic	0.00	0.00	0.00	0.00	0.00
	(2) Diluted	0.00	0.00	0.00	0.00	0.00

Notes:

• 1) The above results were reviewed by the Audit Committee and thereafter taken on record by the Board in its meeting held on 22nd June , 2021 and also the Audit was carried out by the Statutory Auditors.

• 2) Previous year figure have been regrouped wherever necessary.

• 3) Financial Results for all the periods presented have been prepared in accordance with IND AS notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time

Date : - 22nd June, 2021 Place : - Mumbai

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SHREE MANUFACTURING CO LTD

CIN: L36999MH1976PLC286340

Registered Office: Suite# 712, Prasad Chambers Opera House Mumbai 400004

Standalone Statement of Assets and Liabilities	Standalone Statement of Assets and Liabilities	Standalone Statement of Assets and Liabilities
Particulars	As at year ended	As at Previous year ended
	(31/03/2021)	(31/03/2020)
(c) Current Tax Assets (Net) (d) Other current assets (b) Capital work-in-progress (c) lnvestment Property (e) Other Intangible assets (f) Intangible assets under development (g) Biological Assets other than bearer plants (iii) Cash and cash equivalents (iv) Bank balances other than(iii) above (v) Loans (vi) Others (to be specified) (d) Goodwill (ii) Trade receivables (i) Deferred tax assets (net) (h) Financial Assets (i) Investments (a) Inventories (b) Financial Assets (i) Investments (ii) Trade receivables (j) Other non-current assets Current assets (iii) Loans ASSETS Non-current assets (a) Property, Plant and Equipment	- - - - - - - - - - - - - - - - 11,52,040 3,79,881 3,39,973	- - - - - - - - - - - - - - - - 40 58,660 2,34,265
Total Assets	18,71,894	2,92,965
(b) Other Equity LIABILITIES Non-current liabilities Current liabilities (d) Other non-current liabilities (a) Financial Liabilities (c) Deferred tax liabilities (Net) (i) Borrowings (ii) Trade payables (iii)Other financial liabilities (other than those specified in item (b), to be specified) (b) Provisions� EQUITY AND LIABILITIES EQUITY (a) Equity Share capital (b) Other current liabilities (c) Provisions (d)Current Tax Liabilities(Net) (ii) Trade payables (a) Financial Liabilities (i) Borrowings (iii) Other financial liabilities (other than those specified in item (c)	8,30,02,770 (10,07,65,145) - - - 36,09,920 2,90,800 - - 1,38,83,722 2,86,626 15,63,201 - -	8,30,02,770 (9,97,24,510) - - - 36,09,920 2,90,800 - - 1,19,18,244 2,86,626 - 9,09,115 - -
Total Equity and Liabilities	18,71,894	2,92,965

Date : - 22nd June , 2021 Place : - Mumbai

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SHREE MANUFACTURING COMPANY LIMITED Registered Office : Suite# 712, Prasad Chambers Opera House Mumbai - 400004 MH CIN : L36999MH1976PLC286340

CASH FLOW STATEMENT FOR THE PERIOD ENDED 31 st March, 2021 (Rs. /amount)

Particulars A. Cash Flow form Operating Activities Net Profit / (Loss) before extraordinary items and tax Adjustments for : Interest Paid Prior Period Item Extra ordinary item Operating profit / (loss) before working capital changes Adjustments for (increase) / decrease in operating assets: Trade receivables Adjustments for increase / (decrease) in operating Liabilities: Trade Payables Other current liabilities Long Term Provision Cash generated from operations before Extra-ordinary items Less: Extra ordinary Items Net cash flow from / (used in) operating activities (A) B. Cash flow from investing activities Sale of Fixed Assets Net cash flow from / (used in) investing activities (B) C. Cash flow from financing activities Proceeds from borrowings Call Money Received Interest Income Increase in Short term Loans and Advances Net cash flow from / (used in) financing activities (C) Net increase / (decrease) in Cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	As at 31 March 2021 As at 31 March, 2020 -10,40,635 -25,23,854 14,76,089 12,56,062 4,35,454 -12,67,792 -11,52,000 5,68,430 -2,25,000 6,54,086 4,12,957 -62,460 -5,11,405
	-62,460 -5,11,405
	19,65,478 17,88,455 -14,76,089 -12,56,062 -1,05,708 -1,74,286
	3,83,681 3,58,107 3,21,221 -1,53,298 58,660 2,11,958
	3,79,881 58,660

This is the Cash Flow Statement referred to in our report of even date

Date : - 22nd June 2021 Place : - Mumbai

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32 Haji Ali Government Colony, Building no 3, Mumbai 400034 Ph: + 91 9769033394 Email:laxmitriptimumbai@gmail.com

Laxmi Tripti & Associates

Chartered Accountants

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Independent Auditor’s Report

To the Board of Directors of M/s. Shree Manufacturing Company Limited

Report on the standalone Financial Results

Opinion

We have audited the accompanying Standalone quarterly financial results of M/s. Shree Manufacturing Company Limited (“ the Company ”) for the quarter ended 31[st] March 2021 and year to date result from 1[st] April 2020 to 31[st] March 2021attached herewith, being submitted by the 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, the aforesaid standalone financial results:

i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulation 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/loss and other comprehensive income and other financial information for the quarter ended 31[st] March 2021 as well as the year to date results for the period 1[st] April 2020 to 31[st] 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. Our responsibilities under those Standards are further described in the Auditor‟s Responsibilities for the Audit of the 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 results under the provisions of the Companies Act, 2013 and the Rules there under, 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.

Emphasis of Matter Paragraph

Our opinion is not modified in respect of this matter.

Responsibility of Management 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 results. 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 the recognition and measurement principles laid down in Indian Accounting Standard 34, „Interim

INDEPENDENT AUDITORS’ REPORT

To the Board of Directors of Shree Manufacturing Company Limited Report on the Financial Results Page 2 of 3

Financial Reporting‟ prescribed under Section 133 of the Act read with relevant rules issued there under 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 of the 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 misstatement, 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 are also responsible for overseeing the Company‟s financial reporting process.

Auditor’s Responsibility for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial result 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 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, but not for the purpose of expressing an opinion on the effectiveness of the company‟s internal control.

• 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. If we 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.

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INDEPENDENT AUDITORS’ REPORT

To the Board of Directors of Shree Manufacturing Company Limited Report on the Financial Results Page 3 of 3

• 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 relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

For Laxmi Tripti & Associates Chartered Accountants Firm‟s registration number: 009189C

PRASHAN Digitally signed by PRASHANT PORWAL T PORWAL Date: 2021.06.22 12:41:50 +05'30'

CA Prashant Porwal Partner Membership number: 409266 UDIN No.: 21409266AAAAAI6870 Place: Mumbai Date: June 22, 2021

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SHREE MANUFACTURING COMPANY LIMITED

Registered Office: Suite# 712, Prasad Chambers Opera House, Mumbai, 400004

Email: shreemanufacturing@hotmail.com Website: www.smcl.in; Phone: 022-66631999 CIN: L36999MH1976PLC286340

Date: 22[nd] June, 2021

To The Manager Department of Corporate Services BSE Ltd. Dalal Street, Fort Mumbai – 400 001

Sub. - : Declaration for Non-Applicability of Statement of Impact of Audit Qualification

Ref. -: Scrip Code - 503863

Dear Sir / Madam,

Pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby declare that the Statutory Auditors of the Company have issued Auditors report with Unmodified opinion on Standalone Audited Financial Results for the Financial year ended 31[st] March, 2021 approved at the Board Meeting held today i.e 22[nd] June, 2021.

Kindly take the same on your records.

Thanking you,

Yours faithfully,

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