Silver Touch Technologies Limited — Interim / Quarterly Report 2019

Nov 14, 2018

I>ate:14/11/2018 To, The Manager, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

Symbol: SILVERTUC

Dear Sir / Madam,

Subject: Outcome of the Board Meeting held on Wednesday, 14th November, 2018 and submission of Unaudited Standalone Financial Results for the Half Year ended 30th September, 2018

With reference to the captioned subject, this is to inform you that the Meeting of the Board of Directors of the Company was held on today i.e on Wednesday, 14th November, 2018 at the registered office of the Company situated at 2nd Floor, Saffron Towers, Nr. Panchwati Circle, Ambawadi, Ahmedabad-380006.

The outcome of the Board Meeting is as under:

1. The Board of Directors approved the Unaudited Standalone Financial Results along with Limited Review Report of the Statutory Auditors thereon for the half year ended on 30th September, 2018.

Pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015 the Unaudited Standalone Financial Results along with Limited Review Report of the Statutory Auditors thereon for the half year ended on 30th September, 2018 has been enclosed herewith.

The Above Meeting was commenced at 11:30 AM and was concluded at "'1.2: 2.l!) PM.

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

Yours Faithfully, For, Silver Touch Technologies Limited I>ipes ~ ~

Company Secretary & Compliance officer

Silver Touch Technologies Limited

2nd Floor, Saffron Tower, Nr. Panchwati Circle, Ahmedabad-380006 Gujarat,lndia elN : L72200GJ1995PLC024465 Tel + 91 7926563158, Fax + 91 792656 1624, info@silvertouch.com, www.silvertouch.com

Priyam R. Shah & Associates

202, Pel ican, Gujarat Chamber of Commerce Compound, Ashram Road, Ahmedabad-a80 009. Tele (0) 079-40042700-01-02·03 • E·mail : rmshah@rmshah.net

CHARTERED ACCOUNTANTS

INDEPENDENT AUDITOR'S REVIEW REPORT

To, The Board of Directors of, Silver Touch Technologies Limited

We have reviewed the accompanying statement of unaudited financial results of Silver Touch Technologies Limited for the half year ended 30th September, 2018.

This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the 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 provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Emphasis of matter

We would like to draw the attention to reader of our Report that the company has changed the method of measuring stock from First in First out method to Weighted Average Stock Method as per Accounting Standard-2. However, it has no material impact on the valuation of valuation of stock.

Priyam R. Shah & Associates ----------------------------------------.,. CHARTERED ACCOUNTANTS

•

202, Pelican, Gujarat Chamber of Commerce Compound, Ashram Road, Ahmedabad·3BO 009. Tele (O) 079·40042700-01·02·03 • E-mail: rmshah@rmshah.net

Based on our review conducted as above, with the exception of the matter described in the preceding paragraph, nothing has come to our attention that causes us to believe that the accompanying statement 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 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For PRIYAM R SHAH & ASSOCIATES

CA Mitesh M Nagar Partner M.No. 173787

Place: Ahmedabad Date: 14/11/2018

SILVER TOUCH TECHNOLOGIES LIMITED

CIN:L72200GJ1995PLC024465

Registered office: 2nd Floor, Saffron, Nr. Panchwati Circle, Ambawadi, Ahmedabad - 380006, Gujarat E-mail: cs@silvertouch.com Phone: 079-26563158

Statement of Unaudited Financial Results for the Half Year Ended on 30th September, 2018

					(t In Lakhs except earnlr\8 per share)
			Half Year ended		Year ended
SrNo	Particulars	30/09/2018	31/03/2018	30/09/2017	31/03/2018
		Unaudited	Unaudited	Unaudited	Audited
1	Revenue from Operations
	a) Net Sales /Revenue from Operation	10,502.96	8,745.82	7,656.94	16,402.76
	b) Other Operating Income	64.07	49.45	43.25	92.70
	Total Revenue from operation [l(a) + l(b))	10,567.03	8,795.27	7,700.19	16,495.46
2	Expenses
	a) Purchase of Stock -in -Trade	5,160.78	4,428.95	4,079.77	8,508.72
	b) Changes in Inventories of finished goods, work in
	progress and stock in trade	(16.92)	(122.06)	(13.96)	(136.Q1)
	c) Employee benefit Expenses	3,939.33	2,909.00	2,515.98	5,424.98
	d) Finance cost	69.95	43.06	94.58	137.65
	e) Depreciation and amortisation expense	121.40	129.56	131.66	261.22
	f) Other Expenses	460.00	524.21	391.68	915.89
	Total expenses 12(a) to 2(f) ]	9,734.54	7,912.72	7,199.72	15,112.44
	Profit before exceptional and extraordinary items and
3	tax [1-2]	832.49	882.55	500.48	1,383.03
4	Exceptional item	-	-	-	-
5	Extraordinary Items	-	-	-	-
6	Profit before Tax [3-4-5)	832.49	882.55	500.48	1,383.03
7	Tax Expenses
	1) Current Tax	225.00	342.00	180.00	522.00
	2) Deferred Tax	(25.86)	4.52	4.52	9.03
	3) Prior Period Tax Adjustments		(2.59)	-	(2.59)
		199.14	343.93	184.52	528.44
8	Net Profit for the pe,riod (6-7)	633.35	538.62	315.96	854.58
9	Paid up Equity Share Capital (Face Value - Rs lOt-Each)	1,268.10	1,259.50	1,259.50	1,259.50
10	Reserve excluding Revaluation Reserve	5,497.42	4,867.63	3,559.43	4,867.63
11	Basic and Dialuted e!lrning per share in Rs.	5.02	4.34	2.71	7.05

1 The above Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 14th November, 2018.

2 In accordance with Regulation 33 of the SEBI (LODR) Regulations, 2015, the Statutory Auditors of the Company have carried out limited review of the above results

3 The Figures of the half year ended March 31, 2018 are the balanCing figures between Audited figures for the year ended on March 31, 2018 and year to date figures upto the half year ended on September, 2017.

4 The figures of the pnevious period have been regrouped/rearranged wherever necessary to make them com para bel with those of the current period.

• 5 The above financial results are available on the WebSite of the Company i.e. www.silvertouch.com and on the Website of Emerge Platform of National Stock Exchange i.e. www.nseindia.com/emerge.
• 6 The Board does not recommend any Interim Dividend for the current period.

7 Segment Reporting

As per regulations of Accounting Standard-17 segment wise revenue results and capital employed are given for financial results for the Reporting period in Annexure-I.

For and on behalf of the Board of Directors Silver Touch Tec nologles limited /-:::;::=:~ ..... pul H Thakkar Chairman and MD

Date:- 14/11/2018 Place :- Ahmedabad

ILVER TOUCH TECHNOLOGIES L1ITED

CIN:L72200GJ1995PLC024465

Registered office: 2nd Floor, Saffron, Nr. Panchwati Circle, Ambawadi, Ah edabad - 380006, Gujarat E-mail: cs@silvertouch.com Phone: 079-26S631~8

STATEMENT OF ASSETS & LIABILITIES

		Particulars	As at 3P/09/Z018	As at 31/03/2018
I.		EQUITY AND LIABILIt iES
		1 Shareholders' funds
	(a)	Share capital	12,68,10,000	12,59,50,000
	(b)	Reserves and surplus	59,82,22,676	52,53,93,480
		2 Share application money pending allotment	-	-
		3 Non-current liabilities		1,17,99,456
	(a)	Long-term borrowings	3,40,75,00564,07,352	89,93,468
	(b)(c)	Deferred tax liabilities (Net)Other Long term liabilities	1,45,07,326	57,27,470
	4 Current liabilities
	(a)	Short-term borrowings	9,71,12,864	-
	(b)	Trade payables	54,49,71,978	29,59,38,400
	(c)	Other current liabilities	14,97,61,623	10,87,99,698
	(d)	Short-term provisions	9,31,47,498	7,79,05,492
		TOTAL	1,66,50,16,323	1,16,05,07,464
II.	ASSETS
		Non-current assets
	1 (a)	Fixed aSSI!ts
		Tangible assets(i)	16,13,11,932	15,37,98,566
		Intangible assets(ii)	12,40,499	14,38,245
		(iii)Capital work-in-progress	27,47,490I	24,89,490
		(Iv)Intangible assets under development	-	-
	(b)	Non-curre nt investments	1,05,63,658	1,05,63,658
	(c)	Long-term loans and advances	4,91,69,151	4,07,28,680
	(d)	Other non-current assets	3,93,39,276	3,73,38,183
	2 Current assets
	(a)	Current investments		-
	(a)	Inventorit!s	3,18,03,050	3,01,11,389
	(b)	Trade receivables	91,49,10,075	64,14,96,561
	(c)	cash and Bank Balances	6,39,53,569	12,84,16,197
	(d)(e)	Short-term loans and advancesOther current assets	: 38,99,77,623-	11,41,26,495-
		TOTAL	1,66,50,16,323	1,16,05,07,464

For and on behalf of the Board of Directors

Chairman and MD

Date:- 14/11/2018 Place :- Ahmedabad

Sliver Touch T nologles Limited

SILVER TOUCH TECHNOLOGIES LIMITED CIN: U72200GJ1995PLC024465

· .

Registered Office: 2nd Floor, Saffron, Nr. Panchwati Circle, Ambawadi, Ahmedabad - 380006, Gujarat. Email: cs@silvertouch.com Phone: 079-26563158

		Annexure-1
rtlculars,	01/04/2018 to30/09/2018	F.Y.2017-18
Segment Revenue
a) Domestic	1,01,79,29,066	1,57,32,34,833
b) Export	3,23,66,916	6,70,41,477
Total	1,05,02,95,982	1,64,02,76,310
Less: Inter Segment Revenue	-	-
Net Sale/Income from Operatiqns	1,05,02,95,982	1,64,02,76,310
Segment Results before Tax and Interest from each segment
a) Domestic	10,55,67,057	18,84,00,479
b) Export	1,11,82,631	1,35,84,135
Total	11,67,49,689	20,19,84,614
Less:
i) Interest	32,48,442	82,32,347
ii) Other unallocable Expend ture	3,66,59,526	6,47,19,486
Add:
i) Other unallocable income	64,07,199	92,69,738
Total Profit before Tax	8,32,48,919	13,83,02,519
Segment Assets
a) Domestic	1,41,74,10,530	98,85,54,426
b) Export	15,29,64,945	11,07,79,016
V na lIocated Assets	9,46,40,848	6,11,74,022
Total	1,66,50,16,323	1,16,05,07,464
Segments Liabilities
ill) Domestic	71,70,78,148	44,04,70,474
Il) Export	14,17,98,147	75,00,041
Unallocated Liabilities	8,11,07,352	6,11,93,469
Total	93,99,83,647	50.91,63.984
Calpital Employed	72.50,32,676	65,13,43,480