Skyline Millars Ltd — Interim / Quarterly Report 2021

Oct 26, 2021

26nOctobe+2027

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

Reference: - skyline Millars Limited BSE Code - ⁵⁰⁵⁶⁵⁰

Dear Sir(s),

c)

With referenc their meeting f Directors at the Compan| ial Results of

udited Financial Rezults along with Asset LiabiJity ter and half year ended 30u,September,2021. along

The Board meeting conunence d at2.1,s p.m. and concrucr-ed at rt r | 5 p.m.

Kindly take the same on record and acknowledge the receipt.

For Skyline Millars Limited

C ,TI

Whole-time Director EncI.: as above

Safes Office Cl2, Skyline Welthspace, Gate No. 2, Skyline Oasis, Premier Road, Vidyavihar (w), Mumbai- 400 086. Tet. : (O22) 2511 2194 | 95

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 SIX MONTHS ENDED 30TH SEPT, 2021

Sr. No.	Particulars	Quarter ended			HALF YEAR ENDED		Year ended
		30.09.2021 (Unaudited)	30.06.2021 (Unaudited)	30.09.2020 (Unaudited)	30.09.2021 (Audited)	30.09.2020 (Audited)	31.03.2021 (Audited)
	Income (a) Revenue from operations (b) Other Income	(0.00)	0.32	193.68	0.32	193.68	423.52
$\mathbf{1}$	Total Income	177.57 177.57	8.44 8.76	39.61 233.29	186.01 186.33	48.22 241.90	68.07 491.59
	Expenses
	(a) Cost of materials consumed			ä	0.00	0.00	0.00
	(b) Purchase of stock in trade			٠	0.00	0.00	0.00
	(c) Change in inventories of finished goods, work-in-progress and stock-in-trade
	(d) Cost of Construction			20.23	0.00	20.23	78.21
	(e) Employee benefits expenses	8.57	7.53	7.66	0.00	0.00	0.00
	(f) Finance cost			0.06	16.10 0.00	14.11 0.11	29.23 0.16
	(g) Depreciation and amortisation expenses	0.39	0.39	0.67	0.78	1.42	2.72
	(h) Other Expenses	26.24	19.54	19.91	45.78	27.41	74.42
$\overline{2}$	Total Expenses	35.20	27.46	48.53	62.66	63.28	184.74
з 4	Profit / (Loss) before exceptional items and tax (1-2) Exceptional Items	142.37	(18.70)	184.76	123.67	178.62	306.85
5	Profit / (Loss) before tax (3 - 4)	142.37	(18.70)	184.76	123.67	178.62	306.85
6	Tax Expense a) Current tax b) (Excess)/Short Tax Provision of earlier years c) Deferred tax Total Tax Expense	×	٠ ۰	(0.19)	٠ ۰	(0.19)	(0.19) 32.45
			ä,	(0.19)	v.	(0.19)	32.26
7	Profit / (Loss) for the period from continuing operations (5 - 6)	142.37	(18.70)	184.95	123.67	178.81	274.60
8 9	Loss from discontinuing operations Tax Expenses of discontinuing operations	(2.22)	(2.03)	(3.92)	(4.25)	(7.90)	(35.88)
10	Loss from discontinuing operations (8 - 9)	(2.22)	(2.03)	(3.92)	(4.25)	(7.90)	(35.88)
11	Profit / (Loss) for the period (7 + 10)	140.15	(20.73)	181.03	119.42	170.91	238.72
	Other Comprehensive Income (Net of Tax)
	A. Items that will not be reclassified to Profit & Loss	(0.06)	0.13	(0.02)	0.07	0.03	0.18
12	Total Other Comprehensive Income	(0.05)	0.13	(0.02)	0.07	0.03	0.18
13	Total Comprehensive income for the period (11+12)
		140.09	(20.60)	181.02	119.49	170.94	238.90
14	Paid up Equity Share Capital (Face Value Re 1/- each)	402.24	402.24	402.24	402.24	402.24	402.24
15	Reserves excluding Revaluation Reserves as per Balance Sheet of the previous accounting year						2,283.97
16	Earning per Share (EPS) a) Earning per share Basic & Diluted (in Rs) (for continuing operations) (not annualised)	0.35	(0.05)	0.46
	b) Earning per share Basic & Diluted (in Rs) (for discontinuing operations) (not annualised)				0.31	0.44	0.68
		(0.01)	(0.01)	(0.01)	(0.01)	(0.02)	(0.09)
	c) Earning per share Basic & Diluted (in Rs) (for total operations) (not annualised)	0.34	(0.06)	0.45	0.30	0.42	0.59

(marlet Dave)

Notes:

• 1) The above results have been reviewed by the Audit Committee and approved by the Board of Directors attheir respective meetings held on October26,2021.The statutory Auditors have caffied out a Umlted Review ofthe resultsfor Halfyeat ended 30th Sept 202r..
• 2I The above results have been prepared in ac€ordance with Companies (lndlan Accounting Standardsl Rules, 2015 (,lnd As,) prescribed under sectlon 1il3 of the companies Act,2013, read together with rule 3 of the Companies (lndirn Accounting standards) Rules) 2015 and companies (lndian Accounting ttandards) (Am€ndment) Rutes, 2016,
• 3l The company has consldered possible impact of known events arising from covlD tg pandemic on the carrying amount of assets in the preparalion offinadcial statements. However, the impact assessment of covlD 19 is a contiiluing process Elven the uncertalnities associated with its nature and duration, The company will contlnue to monitor any material changes to future economk condition5. The Company has conslder the Internal and erternal source of informatlon including economic forecasts and industry reports up to the date of approval of the flnancial statements ln determlnlng the lmpact on varioug elements of its financial statements. The Company has use the principles of prudence in applying,iudgement5, estimates and assumptions includlng sensltlvlty analysis and base oo the current estimates, the company does not have any material impsct due to covid-tg outbreak. Theeventual outcome ofimpactofthe global health pandemjc may be differenttrom those estimated as on date ofapprovtl of these financial statements,
• The company has chosen to exercise the optlon of lower tax rate under section 1158M of the Income Tax Act, 1961 Introduced vide the Taxation l-aws (Amendment) Act, 2019. Accordingly, the tax expense for the perlod and consequently the profit Efter tax is not comparable with the corraspondlng flgures ofthe prevlous year. 4)
• The Companl| i5 primarllv engaged in Real Btate business and after discontinuation of Umreth divlsion there is only one reportable segmenr. sl
• ouring the quarter, Company has settied a case, as pet consent Term dated 25.09.2021 whareln company received Rs 2.11 crore against advance glven of Rs 0'41 crore for purchase of land at Khalapur, District Raigad , Excess emount of Rs 1.70 crore is shown as other Income , The company vide Board Resolution dated t /0912o2L has accepted the proposal to settle the ongoi ng dlspute. 6)
• Figures for the prevlous perlods have been re-grouped / re-arranged wherever necessary.

Flace r Mumbal Date :- O.tober 26, Z0Z1

SKYLINE MILLARS LIMITED CIN NO. L63020MH1919PLC000640 EIN NO. LOSOZOMATISTSPILLOUDB40
REGD. OFFICE : 4TH FLOOR, CHURCHGATE HOUSE
32-34, VEER NARIMAN ROAD, FORT, MUMBAI - 400001
STATEMENT OF ASSETS AND LIABILITIES

The Company

		(Rs. In Lakhs)
Particulars	As at 30.09.2021	As at 31.03.2021
	(Unaudited)	(Audited)
ASSETS
Non-current assets
Property, Plant and Equipment	26.94	27.71
Investment Property		0.00
Other Intangible assets		0.00
Financial Assets
(i) Non-current investments	0.81	0.73
(ii) Trade receivables
(iii) Loans	131.62	65.81
(iv) Other financial assets	148.30	187.87
Deferred tax assets (net)
Other non-current assets	24.98	31.06
Total Non-Current Assets	332.66	313.19
Current assets
Inventories	1,243.69	1,244.51
Financial Assets
(i) Trade and other receivables	5.81	28.11
(ii) Cash and cash equivalents	265.24	49.52
(iii) Bank balances other than (ii) above	611.72	716.87
(iv) Loans	0.22	0.39
(v) Other financial assets
Assets for Current Tax (Net)	1.57
Assets Classified as Held for Sale	368.12	368.12
Other current assets Total Current Assets	39.45	35.95
	2,535.82	2,443.47
Total Assets	2,868.48	2,756.66
EQUITY AND LIABILITIES
Equity
Equity Share capital	402.24	402.24
Other Equity	2,403.48	2,283.97
Total Equity	2,805.72	2,686.22
Non-current liabilities
Financial Liabilities
(i) Other financial liabilities - non-current
Other non-current liabilities	16.34	16.34
Provisions	24.98	31.06
Liabilities for Non Current Tax (Net)	10.23	10.23
Total Non-current Liabilities	51.55	57.63
Current liabilities
Financial Liabilities
(i) Short Term Borrowings
(ii) Trade and other payables
Total outstanding dues of micro enterprises and small
enterprises
Total outstanding dues of creditors other than micro
enterprises and small enterprises
(iii) Other financial liabilities	9.37	11.46
Other current liabilities	1.83	1.35
Current Tax Liablities
Provisions
Total Current Liabilities	11.19	12.81
Total Equity and Liabilities
	2,868.48	2,756.66

MUMBAI
400001

Δ

HB.

Marchit : Dave

	Half Year ended	(Rs. In Lakhs)
Particulars	30.09.2021	Half Year ended 30.09.2020
J. Cash Flow from operating activities	(Unaudited)	(Unaudited)
Profit / (Loss) before tax from
Continuing operations
Discontinued Operations	123.67	178.62
Profit before tax including discontinued operations	(4.25)	(7.90)
Adjustments for	119.42	170.72
Depreciation and amortisation expense
Finance cost	0.78	6.56
Interest income from financial assets at amortised cost		0.11
Dividend income	(15.90)	(11.66)
Inventory written off	(0.01)	(0.01)
Sundry balances written back
Expected credit loss		(28.68)
Net gain on disposal of property, plant and equipment
Operating profit before working capital changes	104.29
		137.03
Adjustments for
(Increase)/Decrease in trade receivables	22.30
Increase/(Decrease) in trade payables		30.40
(Increase)/Decrease in financial assets	(26.07)	(0.08)
(Increase)/Decrease in other assets	2.58	(1.11) 51.90
Increase/(Decrease) In financial liabilities	(2.09)	(7.37)
Increase/(Decrease) in provisions		(80.93)
Increase/(Decrease) in other liabilities	(5.60)	(24.20)
(Increase)/Decrease in inventories	0.83	19.29
Cash flow from / (used in) operating activities post working capital changes Income taxes paid (Net of refunds)	96.24	124.92
Net Cash flow generated from operating activities (A)	(1.58)	43:02
	94.66	167.94
Cash Flow from investing activities
Proceeds from property, plant and equipment		1.06
Purchase from investments Deposits with bank	÷.
Interest income
Dividend received	15.90	11.66
Net Cash Flow used in Investing activities (B)	0.01	0.01
	15.91	12.73
Cash Flow from financing activities
Proceeds from borrowings
Repayments of borrowings	۰
Interest paid	٠	۰
Net Cash Flow used in financing activities (C)	$\mathbf{w}$
	×	$\sim$
Net increase / (decrease) in cash and cash equivalents (A+B+C)	110.57	180.67
Cash and cash equivalents at the beginning of the period
	766.39	387.13
Cash and cash equivalents at the end of the period		567.80
	876.95

En Marchine (1)

Manubhai & Shah LLp Chartered Accountants

To The Board of Directors SKYLINE MILLARS LIMITED

• 1. We have reviewed the accompanying statement of unaudited financial results of Skyline Millars Limited (the 'Company') for the quarter and half year ended September 30,2021 (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.
• 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.
• 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

EL ASHISH H. SHAH PARTNER Membership No. 103750 UDIN: 21103750AAAABA5246

Mumbai, October 26, 2021

3C, Maker Bhavan Manubhai & Shah LLP. a Limited Liability Partnership with LLP identity No.AAG-0878 - 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

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