Skyline Millars Ltd — Interim / Quarterly Report 2020

Aug 12, 2020

12u Atgttst,2020

To, The Manager - Listing Department The BSE Limited PhirozeJeej eebhoy Towers, Dalal StreeL Mumbai - 400 001.

Reference: - Skyline Millars Limited BSE Code - ⁵⁰⁵⁶⁵⁰

Dear Sir(s),

tcome of of Meet - Discl informati r Securities and Disclosure Requirements) Regulations, 2015.

With reference to above captioned subject, we wish to inform you that the Board of Directors at their meeting held today has approved and took on record the following:

• 1. Un-Audited Financial Results of the Company for the first quarter ended 30u. June,2020. 2. Re-appointment of Mr" Niranjan R. Jagtap as an Independent Director for a second term of two years with effect from 30tL September,2020 to 29th September,2022 and continuation of his appointment as a Non-executive Director on attainin g Tlyears subject to approval of members at the ensuing Annual General Meeting of the Company.

Please find enclosed a copy of the said Un-Audited Financial Results for the first quarter ended 30tt June, 2020 aTongwith Auditor's Limited Review Report.

The Board meeting conunenced at 2.30 p.m" and concruded at 4.30 p.m.

Kindly take the same on record and acknowledge the receipt.

For Skyline Millars Limited

Maulik Dave Whole-time Director DIN:01448536 Encl.: as above

Sales Office : C/2, Skyline Welthspace, Gate No. 2, Skyline Oasis, Premier Road, Vidyavihar (w), Mumbai - 400 086. Tel. : (022) 2511 2194 | 95

Registered Office : Churchgate House, 4'n Floor, 32-34, Veer Nariman Road, Fort, Mumbai - 400 OOi. Tel. :(022) 2204 7471 . www.skylnemillarsltd.com GIN : L6302MH1919PLC000640

' SKYLINE MILLARS LIMITED MiIIarc

Annexure- 2

1. Reason for change viz. appointment, resignation, removal, death or otherwise;

The Board of Directors at its meeting held on 12ft August,2020 approved the re-appointment of Mr. Niranjan R. Jagtap as an Independent Director and continuation of his appointment as a Non-executive Director on attainingT5 years.

This re-appointment is subject to approval of members at the ensuing Annual General Meeting of the Company.

Date of appointment/ cessation (as applicable) and Term of appointment 2.

Mr. Niranjan R. Jagtap re-appointed for a second term of two years with effect from 30ft September, 2020 to 29ft September,2022.

Brief profile (in case of appointment) 3.

Mr. Niranjan R. lagtap, aged 74years, is B. CoM and LLB. He enrolled as an advocate in1971' and registered as an advocate on the Original side of the High Court in 1981. He was appointed as a Notary Greater - Mumbai by Government of Maharashtra in 1983.

He is practicing independently since L981 and since 1983 in the firm name of M/s. Niranjan Jagtap & Co., Advocate & Notary. H has a vast experience in litigation and filing of matters before the High Court at Judicature at Bombay (original side and Appellate side), cLB, NCLT, Debt Recovery Tribunal and Arbitrations generally and more particularly relating to Real Estate.

Disclosure of relationships between directors (in case of appointment of ^a director). 4.

Mr. Niranjan R. Jagtap is not related with any of the Directors of the Company.

Sales Office : C/2, Skyline Welthspace, Gate No. 2, Skyline Oasis, Premier Road, Vidyavihar (w), Mumbai - 400 0g6. Tel. : (022) 2511 2194 | 95

Registered Office : Churchgate House,4'n Floor, 32-34,Veer Nariman Road, Fort, Mumbai- 400 001. Tel. :(022) 2204 7471 . www.skylnemillarsltd.com CIN : L6302MH1919PLC000640

SKYLINE MILLARS LIMITED CIN NO. L63020MH1919PLC000640 REGD. OFFICE : 4th Floor, Churchgate House, 32-34, Veer Nariman Road, Fort, Mumbai - 400 001

SEGMENT REPORTING

Quarter ended Particulars Year ended 30.06.2020 31.03.2020 No 30.06.2019 31.03.2020 (Unaudited) (Unaudited) (Unaudited) (Audited) $\mathbf{1}$ Segment Revenue a) Construction Equipment 0.17 0.17 b) Pre-Cast Pipes (Discontinuing Operation) c) Real Estate 17.14 179.02 0.17 17.31 Revenue from operations 179.02 Segment Results $\overline{2}$ Profit/(Loss) Before Tax & Interest from each Segment a) Construction Equipment (3.30) (4.14) (31.25) (80.79) b) Pre-Cast Pipes (Discontinuing Operation) (0.68) (1.65) (0.96) (12.59) c) Real Estate (7.49) (36.28) 139.50 210.88 TOTAL (11.47) (42.05) 107.29 117.52 Less : Finance cost 0.05 0.03 0.03 Un-allocable Expenses net of Un-allocable Income (1.39) (13.09) 22.76 14.01 (10.12) (28.99) 93.28 Total Profit / (Loss) Before Tax 94.73 Segment Assets 3 a) Construction Equipment 89.50 92.01 92.01 137.99 b) Pre-Cast Pipes (Discontinuing Operation) 310.28 317.75 310.28 310.28 c) Real Estate 1,734.58 1,756.16 1,628.02 1,756.16 2,134.36 2,158.45 Total Segment Assets 2,083.76 2,158.45 Un-allocable Assets 527.85 510.25 498.78 510.25 2,662.21 Total 2,668.71 2,582.54 2,668.71 Segment Liabilities 4 0.30 0.41 a) Construction Equipment 0.11 0.72 0.02 0.30 b) Pre-Cast Pipes (Discontinuing Operation) 92.03 88.65 75.41 c) Real Estate 93.04 89.09 75.82 Total Segment Liabilities 131.95 Un-allocable Liabilities 132.33 60.13 225.00 221.41 135.95 Total 5 Capital Employed a) Construction Equipment 89.21 91.60 137.88 b) Pre-Cast Pipes (Discontinuing Operation) 309.56 310.26 317.45 c) Real Estate 1,642.55 1,667.52 1,552.61 Un-allocable Assets Less Liabilities 395.90 377.92 438.65 2,437.22 2,447.30 2,446.59 TOTAL				( RS. In Lakns
	Sr.
				0.17
				379.60
				379.78
				0.41
				0.02
				88.65
				89.09
				132.33
				221.41
				91.60
				310.26
				1,667.52
				377.92
				2,447.30

Notes:

Previous Period figures have been re-grouped / re-classified wherever necessary, to conform to current period's classification
Figures of segment revenue and segment results reported under segment reporting as Sr. no 1 & 2 the revenue of pre cast pipes has been shown under discontinuing operations.

*** There are no inter segment transfer.

Progression Dave

SKYLINE MILLARS LIMITED CIN NO. L63020MH1919PLC000640 ENTRE ESSESSIMITEES LESSESSED.
REGD. OFFICE : 4TH FLOOR, CHURCHGATE HOUSE
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2020

$\psi^{\dagger}$

					( Rs. In Lakhs )
Sr. No.	Particulars	Quarter ended
			Year ended
		30.06.2020	31.03.2020	30.06.2019	31.03.2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	Income
	(a) Revenue from operations	0.17	17.32	179.02	379.78
	(b) Other Income	8.61 8.78	25.96 43.28	0.50 179.52	36.24 416.02
$\mathbf{1}$	Total Income
	Expenses (a) Cost of materials consumed				5.38
	(b) Purchase of stock in trade
	(c) Change in inventories of finished goods, work-in-progress and stock-in-trade
			15.23	10.83	45.54
	(d) Cost of Construction		(0.00)		(0.00)
	(e) Employee benefits expenses	7.03	8.42	10.38	38.67
	(f) Finance cost	0.05	0.03		0.03
	(g) Depreciation and amortisation expenses	3.32	3.36	3.46	13.48
	(h) Other Expenses	7.82	43.42	60.61	205.43 308.53
2	Total Expenses	18.22	70.46	85.28
		(9.44)	(27.18)	94.24	107.49
3 4	Profit / (Loss) before exceptional items and tax (1-2) Exceptional items
5	Profit / (Loss) before tax (3 - 4)	(9.44)	(27.18)	94.24	107.49
	Tax Expense
	a) Current tax
	b) (Excess)/Short Tax Provision of earlier years		(0.00)		(0.11)
	c) Deferred tax			$\blacksquare$
6	Total Tax Expense	$\overline{\phantom{a}}$	(0.00)		(0.11)
			(27.18)	94.24	107.60
7	Profit / (Loss) for the period from continuing operations (5 - 6)	(9.44)
8	Loss from discontinuing operations	(0.68)	(1.85)	(0.96)	(12.79)
9	Tax Expenses of discontinuing operations
10	Loss from discontinuing operations (8 - 9)	(0.68)	(1.85)	(0.96)	(12.79)
11	Profit / (Loss) for the period $(7 + 10)$	(10.12)	(29.03)	93.28	94.81
	Other Comprehensive Income (Net of Tax)
	A. Items that will not be reclassified to Profit & Loss	0.05	(0.19)	(0.12) (0.12)	(0.93) (0.93)
12	Total Other Comprehensive Income	0.05	(0.19)
13	Total Comprehensive Income for the period (11+12)	(10.07)	(29.22)	93.16	93.88
14	Paid up Equity Share Capital (Face Value Re 1/- each)	402.24	402.24	402.24	402.24
	Reserves excluding Revaluation Reserves as per Balance Sheet of the previous
15	accounting year				2,045.07
16	Earning per Share (EPS)
	a) Earning per share Basic & Diluted (in Rs) (for continuing operations) (not	(0.02)	(0.07)	0.23	0.27
	annualised)
	b) Earning per share Basic & Diluted (in Rs) (for discontinuing operations) (not	(0.00)	(0.00)	(0.00)	(0.03)
	annualised)
	c) Earning per share Basic & Diluted (in Rs) (for total operations) (not annualised)	(0.03)	(0.07)	0.23	0.24

Warrent Libr Lane

Notes i

• 1) The above results have been reviewed by the Audit Committee and approved bythe Board of Directors at their respedive meetings held on Aug le 2020. The Statutory Auditors have carried out a timited Review ofthe results for quarter ended 30th lune 2020.
• The above results have been prepared in accordance with Companies (lndian Accounting Standards) Rules, 2015 ('lndA5') prescribed lnder sectlon 133 of the Companies Act,2013, read totether wlth rule 3 of the Companies (lndian Accountlng Standards) Rules,2015 and Companies (lndian Accounting Standards) (Amendment) Rules, 2016'
• The Company has considered possible impact of known events arising from COVID 19 pandemic on the carying amount of assets in the preparation of fina ncia I statements. However, the impact assessment of covlo 19 is a continuing process given the uncertainities associated with its nature and duration. The company will continue to monitor any material changes to futute economic conditions. The Company has considerthe Internal and external source of information includlng economic forecasts and industry reports up to the date of appfoval ofthe financial statements in determining the lmpact on va,ious elements of lts ffnanclal statements. The Company has use the principles of prudence in applyinSjudgements, estimates and assumptlons including sensitivity analysis and baseon the current estimates, thecompanydoes not have any impact due to covld-lg outbteak The eventual outcome of impact of the gtobal health pandemic may be different from those estimated as on date ofapprovalof these fl nancial statements, 3)
• Figures for the prevlous periods have been r+Srgqped / re-a,ranged wherever necessary. 4)

For and on behalt of Board of Dlrccto6

Place i Mlnbal Date r August 12, 2020

W ag'^'c

Mr.Maullk H Dave DIN No. 01448535 (Whole tlme Dlrectorl

Manubhai & Shah LLP

C h a r t e r e d A c c o u n t a n t s

Independent Auditor's Review Report on the Quarterly Unaudited 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 SKYLINE MILLARS LIMITED

• 1. We have reviewed the accompanying statement of unaudited financial results of Skyline Millars Limited (the 'Company') for the quarter ended June 30,2020 (the 'Statement') being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (lnd AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to issue report on the statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (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 statement is 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.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable Indian Accounting Standards ("Ind AS") specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognised 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 MANUBHAI & SHAH LLP CHARTERED ACCOUNTANTS FRN: 106041W/ W100136

LAXMINARAYA N P YEKKALI Digitally signed by

LAXMINARAYAN P YEKKALI Date: 2020.08.12 15:46:51 +05'30'

Mumbai, August 12, 2020

CA Laxminarayan P. Yekkali PARTNER Membership No. 114753 UDIN: 20114753AAAABK4311

Manubhai & Shah LLP, a Limited Liability Partnership with LLP identity No.AAG-0878 Regd.Office: G-4, Capstone, Opp. Chirag Motors, Sheth Mangaldas Road, Ellisbridge, Ahmedabad-380006. Gujarat, India. Phone : +91 79 2647 0000 Fax : 91-79-2647 0050 Email : info@msglobal.co.in

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