Skyline Millars Ltd — Interim / Quarterly Report 2020

Jan 29, 2020

29% January, 2020

To, The Manager - Listing Department The BSE Limited PhirozeJeejeebhoy Towers, Dalal Street, Mumbai - 400 001.

Reference: - Skyline Millars Limited BSE Code - 505650

Dear Sir(s),

Suh: Outcome of the Pr ing of the Roard Meeting lield ui Wednesday, 29" Januar 2020 - Disclosure of information under Securities and Exchange Board of India (Listing Obligations 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 Un-Audited Financial Results of the Company for the third quarter and nine months ended 31st December, 2019.

Please find enclosed a copy of the said Un-Audited Financial Results for the third quarter and nine months ended 31st December, 2019.

The Board meeting commenced at 11.45 a.m. and concluded at 2:05; 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

les Office i : C/2, Skyline i Welthspace, Gate No. 2, Skyline i Oasis, i Premier i Road, Vidyavihar Vidy: (w), Mumbai - 400 086. Sates OFF " Tel. : (022) 2511 2194/95

Manubhai & Shah LLP

Chartered Accountants

Independent Auditor's Review Report on the Quarterly and Year to Date 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 December 31, 2019 and for the period from April 01, 2019 to December 31, 2019 (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, (Ind 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 PL ASHISH SHAH PARTNER Membership No. 103750

Mumbai, January 29, 2020

UDIN: 2OLO37S0 ARAPRAH SIGL

Manubhai & Shah LLP, a Limited Liability Partnership with LLP identity No.AAG-0878 3C, Maker Bhavan - 2, 18, New Marine Lines, Mumbai-400 020. Phone : +91 22 66333558 / 59 / 60 Fax : +91 22 66333561, 22037935

Regd. Office : G-4, Capstone, Opp. Chirag Motors, Sheth Mangaldas Road, Ellisbridge, Anmedabad - 380 006. Gujarat, India. Phone : +91-79-2647 0000 Fax : +91-79-2647 0050

Email : infomumbai@msglobal.co.in Website : www.msglobal.co.in

Ahmedabad * Mumbai ¢ Rajkot * Baroda * Gandhinagar ° Udaipur

SKYLINE MILLARS LIMITED CIN NO. L63020MH1919PLC000640 REGD. OFFICE : 4TH FLOOR, CHURCHGATE HOUSE 32-34, VEER NARIMAN ROAD, FORT, MUMBAI - 400001 STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / NINE MONTH ENDED 31ST LECEMBER, 2019 (Rs. In Lakhs )

	REGD. OFFICE : 4TH FLOOR, CHURCHGATE HOUSE	SKYLINE MILLARS LIMITED CIN NO. L63020MH1919PLC000640
	32-34, VEER NARIMAN ROAD, FORT, MUMBAI - 400001 STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / NINE MONTH ENDED 31ST LECEMBER, 2019
							(Rs. In Lakhs )
Sr.	Particulars No.		Quarter ended			Nine Months Ended
		31.12.2019				30.09.2019 31.12.2018 31.12.2019 31.12.2018 31.03.2019	Year ended
	Income (a) Revenue from operations	(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) ; i					(Audited)
	(b) Other Income 1 Total Income	16.51 6.13	166.93 3.65	52.42 18.36	362.46 10.28	362.94 29.23	449.55 37.79
	Expenses (a) Cost of materials consumed	22.64 0.00	170.58 5.38	70.78 -	372.74 5.38	392.47	487.74
	(b) Purchase of stock in trade (c) Change in inventories of finished goods, work-in-progress and stock-in-trade	-	-	-	0.00	0.83 0.00	16.39 -
	(d) Cost of Flats Transferred	14.65 -	4.83 -	21.54 5.55	30.31 0.00	(156.76) 283.21	(141.58) 286.67
	(e) Employee benefits expenses (f) Finance cost	9.79 -	10.08 -	11.61 6.99	30.25 0.00	39.65 20.75	53.70 25.22
2	(g) Depreciation and amortisation expenses (h) Other Expenses Total Expenses	3.32 22.20	3.34 79.20	3.92 40.28	10.12 162.01	11.78 122.40	15.54 216.13
3	Profit / (Loss) before exceptional items and tax (1-2)	49.96 (27.32)	102.83 67.75	89.89	238.07	321.26	472.07
4 5	{Exceptional items Profit / (Loss) before tax (3-4)	- (27.32)	- 67.75	(19.11) - (19.11)	134.67 134.67	70.31 70.34	15.67 - 15.67
	Tax Expense a) Current tax
	b) (Excess)/Short Tax Provision of earlier years c) Deferred tax	- (0.43) -	- 0.32 -	- - -	- (0.11)	- -	- 0.11
6	{Total Tax Expense	(0.43)	0.32	-	- (0.11)	- -	- 0.11
7	{Profit / (Loss) for the period from continuing operations (5 - 6)	(26.89)	67.43	(19.11)	134.78	70.31	15.55
8	Loss from discontinuing operations {Tax Expenses of discontinuing operations	(1.14) -	(8.84) -	(12.22) :	(10.94)	(29.18)	(36.80) :
9	Loss from discontinuing operations (8 - 9)	(1.14)	(8.84)	(12.22)	(10.94)	(29.18)	(36.80)
10		(28.03)	58.59	(31.33)	123.84	41.13	(21.24)
11	Profit / (Loss) for the period (7 + 10)
12	Other Comprehensive Income (Net of Tax) A. Items that will not be reclassified to Profit & Loss	0.13	(0.75)	(0.25)	(0.74)	0.10	(0.13)
13	{Total Other Comprehensive Income {Total Comprehensive Income for the period (11+12)	0.13	(0.75)	(0.25)	(0.74)	0.10	(0.13)
14	Paid up Equity Share Capital (Face Value Re 1/- each)	(27.90) 402.24	57.84	(31.58)	123.10	41.23	(21.37)
15	Reserves excluding Revaluation Reserves as per Balance Sheet of the previous		402.24	402.24	402.24	402.24	402.24
	3 accounting year						1,951.18
16	Earning per Share (EPS) a) Earning per share Basic & Diluted (in Rs) (for continuing operations) (not
	annualised) b) Earning per share Basic & Diluted (in Rs) (for discontinuing operations) (not annualised)	(0.07) (0.00)	0.17 (0.02)	(0.05) (0.03)	0.34 (0.03)	0.17 (0.07)	0.04 (0.09)

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

SEGMENT REPORTING

		SKYLINE MILLARS LIMITED CIN NO. L63020MH1919PLC000640
		REGD. OFFICE : 4th Floor, Churchgate House, 32-34, Veer Nariman Road, Fort, Mumbai - 400 001
		SEGMENT REPORTING
							( Rs. In Lakhs )
	Sr.		Quarter ended		Nine Months Ended
	Particulars						Year ended
No 1	Segment Revenue**	31.12.2019 (Unaudited)	30.09.2019 (Unaudited)	31.12.2018 (Unaudited)	31.12.2019 (Unaudited)	31.12.2018 (Unaudited)	31.03.2019 (Audited)
	a) Construction Equipment b) Pre-Cast Pipes (Discontinuing Operation)	- -	- -	- 2.66	- -	4.73 2.67	7.77 441
	c) Real Estate Revenue from operations	16.51 16.51	166.93 166.93	52.44 55.10	362.46 362.46	358.22 365.62	442.18 454.36
2	Segment Results** Profit/(Loss) Before Tax & Interest from each Segment
	a) Construction Equipment b) Pre-Cast Pipes (Discontinuing Operation)	(3.86) (1.14)	(41.54) (8.84)	(9.09) (12.22)	(76.65) (10.94)	(12.27) (29.18)	(28.69) (37.50)
	c) Real Estate TOTAL	(15.82) (20.82)	123.48 73.10	(5.57) (26.88)	247.16 159.57	126.26 84.81	106.08 39.89
	Less: Finance cost Un-allocable Expenses net of Un-allocable Income	- 7.65	- 14.19	6.99 (2.54)	- 35.85	20.75 22.93	25.22 35.80
3	Total Profit / (Loss) Before Tax Segment Assets	(28.47)	58.91	(31.33)	123.72	41.13	(21.13)
	a) Construction Equipment b) Pre-Cast Pipes (Discontinuing Operation)	94.80 310.54	97.67 310.55	186.12 327.87	94.80 310.54	186.12 327.87	167.97 317.61
	c) Real Estate Total Segment Assets Un-allocable Assets	1,536.25 1,941.59 674.24	1,642.77 2,050.99 580.02	1,681.07 2,195.06 552.96	1,536.25 1,941.59 674.24	1,681.07 2,195.06 552.96	1,485.01 1,970.59 601.88
4	Total Segment Liabilities	2,615.83	2,631.01	2,748.02	2,615.83	2,748.02	2,572.47
	a) Construction Equipment b) Pre-Cast Pipes (Discontinuing Operation)	0.03 0.04	0.10 0.26	3.76 0.93	0.03 0.04	3.76 0.93	0.23 0.08
	c) Real Estate Total Segment Liabilities Un-allocable Liabilities	58.74 58.81 51.36	67.92 68.28 58.32	66.68 71.37 260.64	58.74 58.81 51.36	66.68 71.37 260.64	96.92 97.23 121.83
5	Total Capital Employed	110.17	126.60	332.01	110.17	332.01	219.06
	a) Construction Equipment b) Pre-Cast Pipes (Discontinuing Operation) c) Real Estate	94.78 310.50 1,477.51	97.57 310.29 1,574.85	182.36 326.94 1,614.39	94.78 310.50 1,477.51	182.36 326.94 1,614.39	167.74 317.53 1,388.09

Notes:

Previous Period figures have been re-grouped / re-classified wherever necessary, to conform to current period's classification

we Figures of segment revenue and segment results reported under segment reporting as Sr. no 1 & 2 are not comparable with the unaudited financial results as the revenue of pre cast pipes has been shown under discontinuing operations.

mete There are no inter segment transfer.

Notes :

• 1) The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on January 29, 2038The Statutory Auditors have carried out a Limited Review of the results for quarter / Nine Monthsr ended 31st December 2019.
• 2) The above results have been prepared in accordance with Companies (Indian Accounting Standards) Rules, 2015 ('Ind As') prescribed under section 133 of the Companies Act,2013, read together with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) (Amendment) Rules, 2016.
• 3) The Ministry ot Corporate Attairs has notitied Indian Accounting Standard 116 ('Ind AS 116'), Leases, with ettect trom 1st April, 2019. The Standard primarily requires the Company, as a lessee, to recognize, at the commencement of the lease a right-to-use asset and a lease liability (representing present value of unpaid lease payments). Such assets and liabilities are recognised for all leases for a term of more than 12 months , since the term of lease is less than 12 months, the company has not recognise any asset and liability.
• 4) Figures for the previous periods have been re-grouped / re-arranged wherever necessary.

For and on behalf of Board of Directors

r.Maulik H Dave Place : Mumbai DIN No. 01448536 Date :- January 29, 202 (Whole time Director)