SONAM LIMITED — Interim / Quarterly Report 2022

Nov 13, 2021

Date: 13.11.2021

To. The Manager, Listing department, National Stock Exchange of India Ltd, 'Exchange Plaza', C- 1 Block G, Bandrakurla complex, Bandra (East) Mumbai - 400051

SYMBOL: SONAMCLOCK SUB: OUTCOME OF BOARD MEETING HELD ON 13TH NOVEMBER, 2021

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that Board of Directors in their meeting held on today, Saturday, $13th$ November, 2021 at the registered office of the Company situated at Survey No. 337/p, Morbi Rajkot Highway, Lajai, Tal. Tankara, Dist. Morbi -363641 commenced at 05:30 p.m. and concluded at 6.45 p.m. has considered and approved the following business:

1. The Board of directors has considered and approved Unaudited Financial Results for the half year ended on 30th September, 2021 along with Limited Review Report given by Statutory Auditor M/s. SVK & Associates(FRN: 118564W) as per regulation 33 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. (Attached copy of Unaudited Financial results along with Limited Review Report for the half year ended on 30th September, 2021 as reviewed by the Audit committee and approved by the Board of directors).

Please take the same on your record. Thanking you. Yours Faithfully, For, SONAM CLOCK LIMITED

Jayeshbhai Chhabildas Shah Chairman & Managing Director DIN:00500814

Sonam Clock Limited

CIN: U33302GJ2001PLC039689

LIMITED REVIEW REPORT

SVK & ASSOCIATES

Chartered Accountants

To Board of Directors M/S. SONAM CLOCK LIMITED Morbi

We have reviewed the accompanying statement of Unaudited financial results of M/S. SONAM CLOCK LIMITED ("The Company") for the half year ended 30/09/2021 attached herewith (The Statement"). This statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations. 2015 (the "Listing Regulations, 2015"), read with Circular No. CIR/CFD/FAC/62/2016 dated 5th July, 2016. 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 of the statement 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.

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 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 read with Circular No. CIR/CFD/FAC/62/2016 dated 5th July, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For, SVK & ASSOCIATES Chartered Accountants)

Shilpang V. Karia Partner M. No. 102114 Firm No. 118564W

Place: Morbi Date: 13th November, 2021 UDIN: $21102114AAAA$ JM 8870

C/701-702, Titanium Square, Thaltej Cross Road, S. G. Road, Ahmedabad-380054. Gujarat, India Ph.: +91 79 4032 0800 | 4900 0800 E.: svk @casvk.com | audit@casvk.com

Statement of Assets and Liabilities

	(Amount in Rs.Lakhs)
Particulars	As at30.09.2021Unaudited	As at31.03.2021Audited
[A] EQUITY AND LIABILITIES
1 Shareholders' funds
(a) Share capital	1,000.80	1,000.80
(b) Reserves and surplus	2,259.79	2,113.77
Sub-total - Shareholders' funds	3,260.59	3,114.57
2. Non-current liabilities
(a) Long-term borrowings	869.54	1,032.72
(b) Deferred tax liabilities (net)	137.71	123.31
(c) Other long-term liabilities
(d) Long-term provisions	32.31	35.00
Sub-total - Non-current liabilities	1,039.56	1,191.03
3. Current liabilities
(a) Short-term borrowings	1,347.09	1,382.21
(b) Trade payables
(A) Total Outstanding Dues of
Micro Enterprises & Small Enterprises
(B) Total Outstanding Dues of Creditors
other than Micro Enterprises & Small Enterprises	486.92	322.03
(c) Other current liabilities	502.71	631.77
(d) Short-term provisions	197.99	160.69
Sub-total - Current liabilities	2,534.71	2,496.70
TOTAL - EQUITY AND LIABILITIES	6,834.87	6,802.29
BI ASSETS
1. Non-current assets
(a) Property, Plant and Equipment:
Tangible Assets	2,962.37	3,029.27
Intangible Assets
Tangible Assets Capital Work in Progress	85.53	28.85
Intangible Assets under development or
work in progress
Sub-total - Fixed Assets	3,047.90	3,058.12
(b) Non-current Investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances	8.52	21.40
(e) Other non-current assets
Sub-total - Non-current assets	3,056.42	3,079.51
2 Current assets
(a) Current investments
(b) Inventories	1,943.71	1,824.52
(c) Trade receivables	673.80	877.54
(d) Cash and cash equivalents	25.08	31.61
(e) Short-term loans and advances	1,098.16	950.27
(f) Other current assets	37.70	38.83
Sub-total - Current assets	3,778.45	3,722.78
Total -Assets	6,834.87	6,802.29

Sonam Clock Limited

CIN: U33302GJ2001PLC039689

Notes

• 1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 13th November, 2021
• 2 The Statutory auditors of the company has carried out a Limited Review of the above Unaudited Standalone Financial Results for the half year ended 30th September, 2021
• 3 The above Financial Results are also available on our website www.sonamquartz.com and stock exchange website www.nseindia.com
• 4 The status of investor complaints received by the Company is as follows:
  • Pending at the start of the half year (As on April 1, 2021): Nil Received during the half year from April 1, 2021 to September 30, 2021 : Nil
  • Disposed during the half year from April 1, 2021 to September 30, 2021 : Nil
  • Pending as on September 30, 2021 : Nil
• 5 In accordance with Accounting Standard-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the Company has identified its business segment as "Manufacturing & Sale of Horological items, Clocks, Clock Movements and related items". There are no other primary reportable segments. The major and material activities of the company are restricted to only one geographical segment i.e. India, hence the secondary segment disclosures are also not applicable.
• 6 The company has not received information regarding status of suppliers under the 'Micro, Small and Medium Enterprise Development Act, 2006', hence the details related to the same has not been furnished.
• 7 Previcus periods / years' figures have been re-grouped / re-classified, where necessary to make it comparable with the current period.

For, SONAM CLOCK LIMITED

Javesh C. Shah Chairman & MD DIN - 00500814

Place: Morbi Date: 13th November, 2021

Amitbhai Vaghajiyani CFO

Sonam Clock Limited

CIN: U33302GJ2001PLC039689

SONAM CLOCK LTD.

STATEMENT OF FINANCIAL RESULTS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2021

	Particulars	6 Months	6 Months	6 Months30.09.2020	12 Months31.03.2021
		30.09.2021	31.03.2021
		Unaudited	Audited	Unaudited	Audited
	1 Revenue from Operation:
	a) Net sales / Income from Operation (Net of GST)	3,857.43	6.054.87	1,854.30	7,909.17
	b) Other operating Income	19.32	13.73	38.85	52.58
	Total Income from Opearations (net)	3,876.75	6,068.60	1,893.15	7,961.75
$\overline{2}$	Expenses :
	a) Cost of Materials Consumed	1,742.48	1,598.43	643.17	2,241.60
	b) Purchase of Stock-in-trade	1,400.55	3.042.08	610.58	3,652.66
	c) Change in inventories of finished goods, Work-in-progress
	& Stock-in-trade	(246.22)	246.34	27.65	274.00
	d) Employees benefit expenses	288.20	297.72	197.71	495.42
	e) Depreciation and amortisation Exp.	93.37	72.81	61.60	134.41
	f) Other Expenses	307.15	311.01	212.79	523.80
	Total Expenses	3,585.53	5,568.38	1,753.50	7,321.88
	Profit/(Loss) from Operations before other income, finance costs and
3	exceptional items	291.22	500.22	139.65	639.87
4	Other Income	28.59	9.93	0.44	10.36
	Profit / (Loss) from ordinary activities before finance costs and exceptional
5items		319.82	510.15	140.08	650.23
6	Finance Costs	122.28	108.55	89.12	197.67
$\overline{7}$	Profit / (Loss) from ordinary activities after finance costs but before exceptional	197.53	401.59	50.96	452.55
items8	Exceptional Items		2.63		2.63
9	Profit / (Loss) from ordinary activities before tax	197.53	398.97	50.96	449.93
10
	Tax ExpensesCurrent Tax - Pertaining to Current Year	37.11	81.21	17.86	99.07
		$\sim$	(1.72)	$\sim$	(1.72)
	Current Tax - Pertaining to Prior Year	14.40	20.84	(0.60)	20.24
	Deferred TaxTotal Tax Expenses	51.51	100.32	17.26	117.58
		146.03	298.64	33.70	332.35
11	Net Profit / (Loss) from ordinary activities after tax
12	Extra Ordinary items (Net off tax expenses)	146.03	298.64	33.70	332.35
13	Net Profit / (Loss) for the period
14	Details of Equity Share Capital	1,000.80	1,000.80	1,000.80	1,000.80
	Paid-up equity share capital (Face Value of Rs.10 each)	2,259.79	2,113.77	1.815.13	2.113.77
15	Reserves excluding Revaluation Reserves
16	Earnings Per Share (EPS) not annulized
	i. EPS before Extraordinary & Exceptional items for the period / year
	from Continued & Discontinued Operations	1.46	3.01	0.34	3.35
	a) Basic	1.46	3.01	0.34	3.35
	b) Diluted
	ii. EPS after Extraordinary & Exceptional items for the period / year
	from Continued & Discontinued Operations	1.46	2.98	0.34	3.32
	a) Basic			0.34	3.32
	b) Diluted	1.46	2.98
	See accomplying note to the Financial Results

(Amount in Rs.Lakhs)

Sonam Clock Limited

CIN: U33302GJ2001PLC039689

Notes:

• 1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 13th November, 2021
• The Statutory auditors of the company has carried out a Limited Review of the above Unaudited Standalone Financial Results for the half year ended 30th $\sqrt{2}$
• September, 2021 The above Financial Results are also available on our website www.sonnmquartz.com and stock exchange website www.nseindia.com 3
• $\mathcal{L}_t$
• The status of investor complaints received by the Company is as follows: Pending at the start of the half year (As on April 1, 2021) : Nil Received during the half year from April 1, 2021 to September 30, 2021 : Nil
  • Disposed during the half year from April 1, 2021 to September 30, 2021 : Nil Pending as on September 30, 2021 : Nil
• $^5$ In accordance with Accounting Standard-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the Company has identified its business segment as "Manufacturing & Sale of Horological items
• The company has not received information regarding status of suppliers under the 'Micro, Small and Medium Enterprise Development Act, 2006', hence the details Felated to the same has not been furnished.
• 7 Previous periods / years' figures have been re-grouped / re-classified, where necessary to make it comparable with the current period.

For, SONAM CLOCK LIMITED

Amitbhai Vaghajiyani CFO

DIN - 00500814 Place: Morbi

Jayesh C. Shah

Chairman & MD

Date: 13th November, 2021

Sonam Clock Limited

CIN: U33302GJ2001PLC039689

CASH FLOW STATEMENT
	(Amount in Rs.Lakhs)
PARTICULARS	For the Period30.09.2021	For the Year31.03.2021
	Rs.	Rs.
Cash Flow from Operating Activity
Profit before Tax	197.53	449.93
Add: Non Cash and Operating Expenses
Depreciation & Amortization Expenses (Net)	93.37	134.41
Interest Received / Other Non Operative Receipts		(1.33)
Finance Cost	122.28	197.67
Operating profit before working capital changes	413.19	780.68
Adjustment for:
(Increase) / Decrease in Inventory	(119.19)	(36.75)
(Increase) / Decrease in Trade Receivables	203.74	170.56
C. (Increase) / Decrease in Loans and Advances	(73.45)	(163.78)
Increase / (Decrease) in Current & Non Current Liabilities and Provisions	132.40	191.11
(Increase) / Decrease in Other Current Assets	1.14	(1.14)
Cash Generated from Operation	557.82	940.68
Taxes Paid.	(50.63)	(7.4.35)
Net Cash Flow from Operating Activity before Extra-Ordinary Items	507.19	866.33
Cash Flow from Investing Activity
(Increase) / Decrease in Fixed Assets (net)	(83.15)	(428.87)
Advances Given for Capital Assets	(110.00)	(365.72)
Interest Received / Other Non Operative Receipts		1.33
Net Cash Flow from Investing Activities	(193.15)	(793.26)
Cash Flow from Financing Activity
Increase / (Decrease) in Long Term & Short Term Borrowings	(198.29)	138.69
Interest Expenses	(122.28)	(197.67)
Net Cash Flow from Financing Activities	(320.58)	(58.98)
Net Increase / (Decrease) in Cash and Cash Equivalents	(6.53)	14.08
Opening Balance of Cash and Cash Equivalents	31.61	17.53
Closing Balance of Cash and Cash Equivalents	25.08	31.61
	Period ended	Period ended
	30.09.2021	31.03.2021
Components of Cash and Cash Equivalents
	Rs.	Rs.
Cash on hand & Equivalents
- Cash on hand	11.72	19.21
Balances with Scheduled Banks
	13.00	11:53
- In Deposit Accounts
- In Current Accounts	0.36	0.88
	25.08	31.61

For, SONAM CLOCK LIMITED

Jayesh C. Shah Chairman & MDDIN - 00500814

Place: Morbi Date: 13th November, 2021 CFO

assooooo) Amitbhai Vaghajiyani

Sonam Clock Limited

CIN: U33302GJ2001PLC039689