SPL INDUSTRIES LIMITED — Annual Report 2021

Jun 15, 2021

Plot No. 21, Sector-6, Faridabad-121 006 {Haryana) INDIA Tel.: 91-129-2240411, 2306700 2306783

15th June, 2021

Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra- Kurla Complex, Bandra (E), Mumbai 400051

Listing Department BSE Limited Phirozee Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001

NSE Symbol: SPLIL Scrip Code: 532651

'j Outcome of the Board Meeting held on 15th June, 2021 to consider and approve Audited Financial Results of the company for the fourth quarter and year ended 3151 March,2021 Subject-

Dear Sir/Madam,

This is to inform you that the Board of Directors in their meeting held today i.e. 151" June, 2021 have_ approved the Audited Financial Results (Standalone & Single Segment) for the fourth quarter and year ended 31st March, 2021. A copy of Audited Financial Results along with the Audit report for the fourth quarter and year ended 31st March, 2021 on standalone basis is attached herewith.

We would like to confirm that Mis Singhi Chugh & Kumar, Statutory Auditors of the Company have issued Audit Report with unmodified opinion on these financial results.

The Board Meeting commenced on 03:00 PM and concluded at ot.t: ~PM

This is for your information and records please.

Thanking You

For, SPL Industries Limited

~Ashish Y adav (Company Secretary & Compliance Officer)

Encl: As above

FORM A

Plot No. 21, Sector-6, Faridabad-121 006 (Haryana) INDIA Tel.: 91-129-2240411, 2306700 2306783

Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

1.	Name of the Company	SPL Industries Limited
2.	Annual Financial Statement for the year ended	31st March, 2021
3.	Type of Audit observation	Unmodified
4.	Frequency of observation	Not Applicable
5.	To be signed byManaging Director	Mr. MukeshAggarwal
	CFO
	Audit Committee Chairman
	Auditor of the company	For SINGH! CHUGH & KUMARCHARTERED ACCOUNT AN rsFRN: OD f, :i_ N-/ '----- --

New Delhi 15th June 2021

REGO. OFFICE: Office No. 202. 2nd Floor, Vikramaditya Tower, Block-H, Alaknanda Market, Kalkaji, New Delhi-110019 Website· www.spllimited.com. E-mail : administrator@spllimited.com, CIN : L74899DL 1991 PLC062744

Singhi Chugh & Kumar Chartered Accountants

Independent Auditors' Report on the Quarterly and Year to Date Audit Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements). Regulation, 2015, as amended

The Board of Directors SPL Industries Limited 202. 2nd Floor, Vikramaditya Tower, Block-H, Alaknanda Market, Kalkaji New Delhi-110019

Report on the audit of Financial Results

Opinion

We have audited the accompanying statement of Ind AS financial results of M/s SPL INDUSTRIES LIMITED ('the Company') for the quarter and year ended March 31, 2021 ("the Statement"), attached herewith being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements). The statement which is the responsibility of the Company's management and approved by the Board of Directors of the Company, has been prepared in accordance with the applicable Indian Accounting Standard (Ind AS) specified under Section 135 of Companies Act, 2013 read with relevant rules thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

• i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
• ii. gives a true and fair view in conformity with aforesaid India Accounting Standards and accounting principles generally accepted in India of the profit/loss, total comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2021

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Due to the pandemic caused by COVID-19 and prevailing lockdowns/restrictions on movement of people imposed by the Government, for the purpose of issuing this report, we have conducted our audit remotely based on the records and information made available to us by the Company electronically.

#001, B-7/107A, GF, Safdarjung Enclave Ext., NEW DELHI 110 029

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Responsibility of Management for the Standalone Financial Results

The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the accounting Standards specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate implementation and maintenance of accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial control, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Company's Board of Directors are also responsible for overseeing the company's financial reporting process.

Auditor's Responsibility for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to" events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statewJ:i,ts)Jdludi_ng the disclosures, and whether the financial statements represent the underlying transactions and evf~a '. manner that achieves fair presentation. 'l \1.

\ ' I • '; I \ (..J/. l \ - I· ~ / 'e. i.)'- .~/

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The Statement includes the results of the quarter ended March 31, 2021 being the balancing figure between the audit figures in respect of the full financials year ended March 31, 2021 and the published unaudited year-to-date figures up-to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

FOR SINGHI CHUGH & KUMAR

Place: New Delhi Date: 15-06-2021 UDIN: 2.lo!8 'l-~AA~~ t>Ss>JL(g

Plot No. 21, Sector-6, Faridabad-121 006 (Haryana) INDIA

		r 1 • 91-129-'7.tn.t11
	Statement of Asset and Liabilities	2306783
			(Amt in INR Lakhs)
	Particulars	As at 31-03-2021	As at 31-03-2020
	Date of start of reporting period	01-04-2020	01-04-2019
	Date of end of reporting period	31-03-2021	31-03-2020
	Whether results are audited or unaudited	Audited	Audited
	Nature of report standalone or consolidated	Standalone	Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	3117.90	3,332.04
	Capital work-in-progress	24.98
	Investment property	1530.90	1,576.91
	Goodwill	-
	Other intangible assets	-	-
	Intangible assets under development	-
	Bioiogical assets other than bearer plants	-
	Investments accounted for using equity method	-
	Non-current financial assets
	Non-current investments	-
	Trade receivables, non-current	-
	Loans, non-current	-
	Other non-current financial assets	20.56	219.25
	Total non-current financial assets	20.56	219.25
	Deferred tax assets (net)	160.94	108.28
	Other non-current assets	478.4	530.27
	Total non-current assets	5,333.69	5,766.75
2	Current assets
	Inventories	172.85	232.15
	Current financial asset
	Current investments
	Trade receivables, current	1,159.41	3,169.83
	Cash and cash equivalents	457.31	393.23
	Bank balance other than cash and cash equivalen	7,795.80	4,207.27
	Loans, current	-
	Other current financial assets	-
	Total current financial assets	9,412.52	7,770.33
	Current tax assets (net)	-	155.15
	Other current assets	267.70	324.21
	Total current assets	9,853.07	8,481.84
3	Non-current assets classified as held for sale	-
4	Regulatory deferral account debit balances and
	related deferred tax Assets	-
	Total assets	15,186.75	14,248.58

Managing Director I TD . r=: For SPL I NDU~ rRtES L . « 1' ~~, ,\ _.,

	Equity and liabilities
l	Equity
	Equity attributable to owners of parent
	Equity share capital	2,900.00	2,900.00
	Other equity	11,347.08	9,991.32
	Total equity attributable to owners of parent	14,247.08	12,891.32
	Non controlling interest
	Total equity	14,247.08	12,891.32
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	-	-
	Trade payables, non-current	11.46	-
	Other non-current financial liabilities	-	-
	Total non-current financial liabilities	11.46	-
	Provisions, non-current	66.14	54.09
	Deferred tax liabilities (net)	-	-
	Deferred government grants, Non-current	-	-
	Other non-current liabilities	1.00	0.50
	Total non-current liabilities	78.60	54.59
	Current liabilities
	Current financial liabilities
	Borrowings, current	444.54	400.13
	Trade payables, current	212.24	791.75
	Other current financial liabilities		-
	Total current financial liabilities	656.78	1,191.88
	Other current liabilities	177.41	87.04
	Provisions, current	24.09	23.76
	Current tax liabilities (Net)	2.80	-
	Deferred government grants, Current	-	-
	Total current liabilities	861.08	1,302.68
	Liabilities directly associated with assets in disposal
3	group classified as held for sale	-	-
	Regulatory deferral account credit balances and
4	related deferred tax liability	-	-
	Total liabilities	939.67	1,357.27
	Total equity and liabilites	15,186.75	14,248.58

IES LTD.

	Statement of Standalone Audited Results for the Quarter/Year Ended
	31/03 2021.
	P.1!.rtlcu.lars
		Quarter Ended	Quarter Ended	Quarter Ended	Year Ended	Vear Ended
		.3.l-OHO:u	JHHOlO	.31-D.HO.:lO	3-1-0H!>.ll-	.3HlH020
		(Audited)	(Un-Audited)	(Audited)	(Audited)	(Audited)
venue
a)	Revefiue From Operation
I)	Net Sales/Income from Operation (Net of taxes)	__ 2661.98	2589.32---- - -- ·- --- -	3328.95	11008.62	17885.18
	other Income	136.62	183.85	--447.80	566.54	797.59
	Total Income from Operation (Net)	2798.60	2773.17	3776.75	11575.17
		J.no4	.PMJ	1H,8h	m.99	l~J.1'.37
		1266.29	1226.71	2015.77	5447.05	9841.69
		500,67	543,.6.6	403.01	176.6.44	2127.19
	Change In Inventories of finished goods, work in progress and stock in trade
		-4.99	-5.65	-26.17	15.97	117.52
	Emplo ee Benefit Expenses	268.69	242.66	204.01	804.94	853.63
	Finance Cost	19.02	21.83	21.98	70.02	131.71
	Depreciation and amortisation expenses	65.79	70.12	80.79	277.28	314.91
	Other Expenditure(any item exceeding 10% of the total expenses relating to continuing
	operations to be shown separately)	178.83	49.74	231.31	620.13	7~7.78
	Total Expenses	2467.34	2321.50	3145.51	9780.81	15655.80
	Proflt/(Loss)Before Exceptional & Extra Ordianary !terns andTax ( 1-2 )	!131.26	451.67	631.24	1794.36	3026.97
	Exceptional Items {Profit/Loss (Net)}
	Profit/ (Loss) Before Tax (3±4)	331.26	451.67	631.24	1794.36	3026.97
	Tax Ex ense/ Adjustments
	(1) CurrentTax	121.68	108.40	8.00	497.48	8.00
	{2) Prior erlod tax adjustments	-5.66	0.00	0.00	-5.66	0.00
	(3) Deferred Tax	-52.66	0.00	-108.28	-52.66	-108.28
	N!!t .P1gfltf{O$§) For lh!l .Per.I (Stli)	J67,9f}	}U,27	7U,51	lJSS,19	U27,l5
	Other Comprehensive Income
	(A) (i-) Items that will not be reclassified to profits or loss	0.56	0.00	2.30	0.56	2.30
	{A) {ii) Income tax related to items that will not be reclassified to profit or loss
	(B) (i) Items that will be reclassified to Profits or Loss
	(B)(ii) Income tax related to items that will be reclassified to profit or loss
	Other Comprehensive Income for the period, net of tax	0.56	0.00	2.30	0.56	2.30
	Total comprehensive income for the period	268.46	343.27	733.81	1355.76	3U9.55
	Paid-up equity share capital (lquity shares of face value Rs. 10/- each)	2900.00	2900.00	2900.00	2900.00	2900.00
	Earnings Per Equity Share
		0.92	1.18	2.52	4.67	10.78
		0.92	1.18	2.52	4'.67	10.78

The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors in its meeting held on 15th June, 2021. The Statutory Auditors have Audited these results for the Quarter/Year ended 31 stMarch, 2021.

This Statement has been prepared in accordance with the companies (Indian Accountin_g Standanls) Rules,2015 (IND AS), Prescribed under section 133 of the companies act 2013, and other recognized accounting practices and policies to the extent applicable. The company adopted Ind-AS from Olst April 2017.

The Meeting of Board of Directors was held on 15th June, 2021 at the schedule time and the above results were approved.

As per IND AS 108 "Operating Segment", the company has disclosed the segment infonnation only as a partofthe standalone financial results. Effective April l, 2018, the Company adopted Ind-AS 115 - Revenue from Contracts with Customers.The effect on adoption of Ind-AS 115 is insignificant on the ftnancial statements.

Effective Aprill, 2019, the Company adopted Ind-AS 116-Leases.The effect on adoption oflnd-AS 116 is insignificant on the financial statements.

No complaint was received during the quarter euded 31st March, 2021.

Previous Year I Period figures have been recasted/regrouped/reclassified wherever considered necessary.

STRIES LTD. Fors

SPL Industries ltd. A Three Star Export House

STATEMENT OF CASH FLOW FOR THE PERIOD ENDED 31st MARCH, 20 lTel.: ;O~~~J24041fAIR9~R Lakhs)

Plot No. 21, Sector-6, SPL INDUSTRIES LIMITED Faridabad-121 006 (Haryana) INDIA

	PARTICULARS	For Year f ndedMarch31,2021(Audited)	for the Year EndedMarch31, 2020(Audited)
	.(;_sh flow from e>pe.rting q:Jvitj
A	Profit & loss before tax	1,794.36	3,026.96
	to reconcile profit before tax to net cash flows:Adjustments
	Fair value of planned asset(Gratuity)	(0.27)	(0.27)
	Provision for gratuity	13.08	15.12
	Payment of gratuity	(10.09)	{2.24)
	Interest income	(431.32)	(282.90)
	Rental Income	(132.33)	(149.44)
	Net gaffi on sale of non - current assets	-	{0.60l
	Forex gain on derivatives	-	-
	Loss on sale of assets	-	5.15
	& amornzatton costOepredatfon	21"7.28	314.91
	flnsini;;e Costs	sz.ss	111.!)3
	Liability Written back	-	(14.00)
	Assets Written off	23.54	108.90
	Operating Profit before w.orklng .capital changesworking capital adjustments:	1,602.08	3,153.23
	in inventories(lncrease)/Decrease	59.30	98.42
	(lncrease)/Oecreasein trade receivables	2,010.42	714.44
	in other financial assets(lncrease)/Decreasein other current assets(lncrease)!Decrease	-56.52	-125.61
	in advance income tax(lncrease)/Decrease		(8.48)
	in trade payablelncrease/{Decrease)	-(568.04)	(1,157.68)
	in other current liabilitieslncrease/(Decrease)	90.37	(106.93)
	lncrease/(Decrease)in provisions	10.23	(0.21)
	Ca.sb- generated fn>m operatio.ns	1,i60.ss	?,il8Al
	Income tax paid (net of refunds)	(282.38)	-
_ -	.•.·-··- Net casfi"lrom operafing activffies·-····	"2;978;2J9	~ - . --z;SIBAr
B	Cash flow from investing activity
	Net gain on sale of non - current assets	-	-
	Interest income	431.98	282.90
	Rental income	132.33	149.44
	Purchase of fixed assetsSale of fixed assets	(65.64)	(93.77)1.45
	Loan investment	-	-
	Other financial asset	-198.69	(201.17)
	Bank balance not considered as cash & cash equivalent	(3,588.53)	(2,923.05)
	Other mm current liability	0,50	0,50
	Other non current asset	(0.31)	{9.56)
-·-- -·	· Net casliusecfmlnvesting"'-·"- --···-· .·---··--·aa:rvities··	"{2,890.97)	---· -- ----··--(2;793:Z6J
		For SPL IN	DSTR S LTD.

..,- Managing irector

REGO. OFFICE: Office No. 202. 2nd Floor, Vikramaditya Tower, Block-H, Alaknanda Market, Kalkaji, New Delhi-110019 Website • www.spllimited.com. E-mail• administrator@spllimited.com, CIN • L74899DL 1991 PLC062744

c	Cash flow from financing activities
	Finance Costs	(67.85)	(131.63)
	Proceeds from short term borrowings	44.41	153.72
	Repayment ot short term borrowings	-	-
	Net cash used in financing activities	(23.441	22.09
	Net increase/(decrease) in cash and cash equivalents	64.08	47.24
	Cash & cash equivalent at the beginning of the year	393.23	345.99
	Cash & cash equivalent at year end	457.31	393-.23
	Closing cash & cash equivalent	457.31	393.23

Director IES LTD.

Segment Information of Standalone Financial Results:-SPL Industries Limited

Figures in Rs Lakhs

		Three Months ended		Year Ended
Particulars	31 March 2021(Audited)	31 December 2020(Unaudited)	31 March 2020(Audited)	31 March 2021(Audited)	31 March 2020(Audited)
Segment Revenues Including other IncomeManufacturing /Processing IncomeTrading of Garments	1,443.121,355.47	1,307.641,465.52	2,364.101,412.64	4,817.756,757.41	6,962.2711,720.51
Less:- Inter-Segment revenueTotal	2,798.60	2,773.16	3,776.74	11,575.17	18,682.78
Net Revenue of operational from external customers	2,798.60	2,773.16	3,776.74	11,575.17	18,682.78
Manufacturing of GarmentsSegment Results	285.53	251.17	324.72	1002.07	1680.38
Trading of Garments	64.75	222.33	328.49	862.30	1478.30
Add/(Less):-Total	350.28	473.50	653.21	1,864.37	3,158.68
Finance Cost	(19.02)	(21, 83)	(21.98)	(70.02)	(131.71)
Profit before taxAdd/(Less):-	331.26	451.67	631.23	1,794.36	3,026.97
Tax Expense/Adjustments	(63.36)	(108, 40)	100.28	(439.16)	100.28
Net profit after taxes	267.90	343,27	731.51	1,355.19	3,127.25

Segment Capital employed

There are significant amount of unallocated assets & liabilities related to segments hence the management believes that it is not practicable to provide segment disclosure related to capital employed.

$\overline{AP}$

For SPL IND LSTRI $ LTD. Managing D lector $\overline{1}$