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SPV GLOBAL TRADING LIMITED Audit Report / Information 2020
63179_rns_2020-07-31_9c349806-494a-4ff3-bc28-a58995292229.pdf
Audit Report / Information
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(Formerly Known as Tarrif Cine & Finance Limited) CIN: L27100MH1985PLC035268 Regd. Off.: Ground Floor, Binani Bhavan 28/30, Anant Wadi, Bhuleshwar, Mumbai - 400 002. · Tel: 2201 4001, · Fax: 2201 4003 · Email Id: [email protected], BSE CODE NO. 512221. Website : www.spvglobal.in
To BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001
Dear Sir,
$Sub:$ Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations 2015 - Audited Financial Result for the financial year ended 31st March, 2020.
We are submitting the Standalone & Consolidated Audited Financial Result along with the Auditors' Report on Audited Financial Result -Standalone and Consolidated of the SPV Global Trading Limited for the fourth quarter and financial year ended 31st March, 2020.
The Meeting of the Board of Directors of the Company was commenced at 5.00 p.m. and concluded at $7.15$ p.m.
Kindly take the same on record and oblige.
FOR SPV GLOBAL TRADING LIMITED (Formerly Known as Tarrif Cine & Finance Limited)
Balkrishna Binani Managing Director DIN: 00175080 Date: 31st July, 2020 Place: Mumbai Encl: As Above
(Formerly Known as Tarrif Cine & Finance Limited)
CIN: L27 1 OOMH1985PLC035268 Regd. Off. : Ground Floor. Binani Bhavan 28/30, Anant vyadi, Bhul~shw , Mumbai - 400 002 • Tel : 2201 4001, ·Fax: 2201 4003 • Emailld : spvglobaltrad1ng@gma1l com, BSE CODE NO. 512221 . Website : www.spvglobal.in
To
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001
Subject : Declaration under Regulation 33(3)(d) of SEBI (Listing Obligation s and Disclosure Requirements) (Amendment) Regulations, 2016 and SEBI Circular No. CR/CFD/CMD/56/2016 dated May 27, 2016.
Declaration
In co mpliance with the provisions of Regulation 33(3)(d) of SEB I (Listing Obl igat ion s and Disclosure Requirements) (Amendment) Regulations, 2016 and SEB I .Circ ular No. CR/CFD/CMD/56/2016 dated May 27 , 2016, the Company hereby de clares that M/s. S S Rathi & Co ., the Statutory Auditors of the Compan y ha ve issued Audit Repo rt wi th unmodified opinion on Audited Standalone and Con so lid ated Finan cial Res ult of th e Company for the financial year ended 3 l s 1March, 2020.
Kindly take the same on record.
Thanking you
Yours faithfully FOR SPV GLOBAL TRADING LIMITED (Formerly Known as Tarrif Cine & Finance Limited)
Balkrishna Binani Managing Director DIN: 00175080
Near Lalit Restaurant, Station Road. Goregaon (W), Mumbai · 400 062 CHARTERED 'ACCOUNTANTS Tel.: +91 22 2876 2159 / 6236 0705 / 2879 7415 E-mail: [email protected] I [email protected] Website : www.ssrca.com
Auditor's Report on annual standalone financial results of SPV Global Trading Limite dpursuant toRegulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015
To, The Board of Directors of SPV Global Trading Limited
Report on the audit of the Standa lone Financia l Results
Opinion
We have audited the accompanying Statement of StandaloneFinancial Resu lts of SPV Global Trading Limited (the "Company") for the year en ded 3 1st March, 2020 ("Statement"), attached herewith, being submitted by the Company pu rsu ant to the requirements of Regulation 33 of the SEBI (Listing Obligation s and Disclosur e Requirements) Regulations, 20 15, as amended (the "Listing Regulation s").
In our opinion and to the best of our information and according to the explanation s given to us, the Statemen t:
-
- is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 20 15.; and
- n . gives a true and fair view m conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and total comprehensive income and other fmancial information of the Company for the year ended 31st March, 2020. '
Basis for Opinion
We condu cted our au dit in accordance with the Standards on Auditing (SAs) specified under section 143( 10) of the Act. Our responsibilities under those Standards are furth er described in the Auditor's Responsibilities for the Audit of the StandaloneFinancial Re su lts section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accoun tants of India (!CAl) together with the ethical requirements that are relevant to our audit of thestandalonefinancial r esults under the provisions of
the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the StandaloneFinancial Results.
Emphasis of Matter
We draw attention to Note No: 3 to the Standalone Financial Results, which describes that the extent to which the COVID-19 pandemic will impact the Company's operations and financial results will depend on future developments, which are uncertain.
Our opinion is not modified in res pect of this matter.
Management's Responsibilities for the Standalone Financial Results
The Statement has been compiled from related audited standalone financial statements. The Company's Board of Directors are responsible for the preparation and presentation of the standalone financial results that ~ves a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. 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 accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal fmancial controls, that were operating effectively for ensuring the accuracy and completeness of the atcounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Standalone Financial Results, th e Board of Directors are ' 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 the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company's fmancial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results .
Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results as a whole is 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 thisStandalone Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- identify and assess the risks of material misstatement of the Standalone Financial Results, 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 Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to standalone financial statements 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, wheth er a material uncertainty exists related to events or conditions th at 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 standalone financial results 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 Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those ch arged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit fmdings, 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 for the quarter ended 31st March, 2020 and 31st March, 20 19 which are the balancing figures between the audited figures in respect of the full fmancial year and the published unaudited year-to-date figures up to 9 months of the relevant financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
For S. S. Rathi & Co Chartered Accountants (Firm R n. N .1 8726W) D.P. Rathi Partner M. No. 042068
Place : Mumbai Dated: 31.07.2020 UD IN: 20042068AAAAAR6628
CIN: L27100MH1985PLC035268
Regd.Off : 28/30, Anantwadi, Mumbai-400 002 Email: [email protected]; Telephone: 022-22014001; Fax: 022-22014003
Statement of Audited Standalone Financial Resultsfor the Quarter & Year ended 31st March, 2020
| ( in Lacs) | ||||||||
|---|---|---|---|---|---|---|---|---|
| S. No. | PARTICULARS | 3 months ended 31.03.2020 |
3 months ended 31.12.2019 |
Corresponding 3 Months ended 31/03/2019 in |
Year ended 31/03/2020 |
Year ended 31/03/2019 |
||
| (Audited) (Refer Note 4) |
(Unaudited) | (Audited) (Refer Note 4) |
(Audited) | (Audited) | ||||
| Income From Operations | ||||||||
| (a) Revenue from Operations | 902.77 | 1173.60 | 771.79 | 2,957.90 | 1088.39 | |||
| (b) Other Income | 0.63 | 50.70 | 2.28 | 51.22 | 2.28 | |||
| Total Income From Operations | 903.40 | 1,224.30 | 774.07 | 3.009.12 | 1.090.67 | |||
| $\overline{2}$ | Expenses | |||||||
| a) Cost of materials consumed | Nil | Nil | Nil | Nil | Nil | |||
| b) Purchases of Stock-in-trade | 897.31 | 1.162.20 | 762.54 | 2.932.10 | 1075.77 | |||
| c) Changes in inventories of Finished Goods, WIPs & Stock-in-Trade |
Nil | Nil | 1.09 | Nil | 1.09 | |||
| d) Employee Benefits expense | 2.55 | 3.31 | 2.24 | 10.39 | 9.27 | |||
| e) Finance Costs | 1.26 | 11.51 | Nil | 12.77 | Nil | |||
| f) Depreciation & Amortisation Exp. | 0.02 | Nil | Nil | 0.02 | Nil | |||
| g) Other Expenses | 5.48 | 1.18 | 10.30 | 17.48 | 15.24 | |||
| Total Expenses | 906.62 | 1,178.20 | 776.18 | 2,972.76 | 1,101.37 | |||
| 3 | Profit / (Loss) before tax | (3.22) | 46.10 | (211) | 36.36 | $-10.71$ | ||
| 4 | Tax Expenses | |||||||
| Current Tax | (1.06) | 1.60 | Nil | 0.77 | NIL | |||
| Deferred Tax | 0.94 | (1.57) | 0.48 | $-0.88$ | 0.48 | |||
| 5 | Net Profit/(Loss) for the period (3-4) | (3.10) | 46.07 | (2.59) | 36.47 | (11.19) | ||
| 6 | Other Comprehensive Income | |||||||
| $\overline{7}$ | Net fair value gain/(loss) on investments in equity instruments through OCI |
(0.13) | 0.03 | (0.36) | (0.14) | (0.36) | ||
| Income tax benefit/(expense) on net fair value gain/(loss) on investments in equity instruments through OCI |
0.05 | Nil | Nil | 0.05 | 0.01 | |||
| 8 | Total Comprehensive Income for the year | (3.17) | 46.10 | (2.95) | 36.38 | (11.55) | ||
| 9 | Paid-up Equity Capital (Face Value Rs. 10/- per share) | 24.50 | 24.50 | 24.50 | 24.50 | 24.50 | ||
| 10 | Other Equity | 112.31 | 7593 | |||||
| 11 | i. Earning per share of Rs. 10/- each | |||||||
| (a) Basic (In Rs.) | $(1.26)$ * | 18.80* | $(1.06)^*$ | 14.88 | (4.57) | |||
| (b) Diluted (In Rs.) | $(1.26)$ * | 18.80* | $(1.06)^*$ | 14.88 | (4.57) | |||
| *not Annualised |
Notes:
Place: Mumbai
Dated: 31st July, 2020
$\chi \equiv \pi$ $\sim$
The above results which are published in accordance with Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements), 2015 have been
reviewed by the Audit Committee and approved by the Board of Directors at t $\mathbf 1$ with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013, read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standar$\boldsymbol{2}$ The Company is engaged solely in trading activity segment and all activities of the Company revolve around this business. As such there are no other
reportable segment as defined by the Indian Accounting Standard - 108 onCOVID-19 was declared a Global pandemic on 11 March, 2020 by the WHO and the Government of India announced a Lockdown on 24th March, $\sqrt{3}$ 2020. We belive that the impact assessment of this pandemic is a continuous evolving process, given its intensity in the Financial Capital of India. The Company shall continue to monitor all material changes to future cond
The figures of the 3 Months ended 31.03.2020 and 31.03.2019 are the balancing figures between audited figures in respect of the full financial year and $\overline{4}$ the published year to date figures upto 9 months of relevant financial year, which were subjected to limited review by the auditors.
Figures of the previous periods have been regrouped, wherever necessary, to correspond with the figures of the current period. $\overline{5}$
For SPV Global Trading Limited
Mura.
Balkrishna Binani Director DIN: 00175080
CIN: L27100MH1985PLC035268
Regd.Off: 28/30, Anantwadi, Mumbai-400 002 Email : [email protected]; Telephone: 022-22014001; Fax: 022-22014003
Statement of Assets & Liabilities
| As At | As At | |
|---|---|---|
| 31.03.2020 | 31.03.2 019 | |
| Amt (Rs.) | Amt (Rs.) | |
| ASSETS | ||
| Non-current Assets | ||
| Intangible Assets | 0. 17 | NIL |
| Investment in Bullion | 1.40 | 1.40 |
| Investment in Subsidia ry | 302.20 | 302.20 |
| Financial Assets | ||
| Investments | 7.38 | 7.88 |
| Deferred, Tax Asset (Net) | 7.17 | 6.23 |
| Current Tax Assets (Net) | 4.89 | 0.42 |
| Other Non-current Ass ets | 0 .25 | 5.54 |
| 323.48 | 323.68 | |
| Current Assets | ||
| Financial Assets | ||
| Trade Receivables | 24.92 | 640.46 |
| Cash and Cash Equivalents | 17 .5 1 | 37.34 |
| Other Bank Balances | 0 .49 | 0.49 |
| Other Curent Assets | 1.44 | NIL |
| 44.37 | 678.29 | |
| TOTAL ASSETS | 367.84 | 1,001.97 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity Share Capita l | 24. 50 | 24.50 |
| Other Equity | 112.3 1 | 75.93 |
| 136.81 | 100.43 | |
| Current Liabilities | ||
| Fina ncia l Lia bilities | ||
| Trade Paya bles | ||
| - Due to Micro Enterprises & Sma ll Ente rp rises | NIL | NIL |
| - Due to Others | 226.90 | 899.00 |
| Other Fina ncia l Liabilities | 3 .00 | 1.48 |
| Othe r Curren t Liabilities | 1.1 2 | 1.06 |
| 231.02 | 901.54 | |
| TOTAL EQUITY AND LIABILITIES | 367.84 | 1,001.97 |
Place: Mumbai Dated :31st July, 2020 For SPV Global Trading Limited
Balkrishna Binani Director ::
Statement of cash flows as per Regulation 3313llgl of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended
| As At | As At | ||
|---|---|---|---|
| 31.03.2 020 | 31.03.2019 | ||
| Amt (Rs.in lacs) | Amt (Rs.in lacs) | ||
| A. CASH FLOW FROM OPERATING ACTIVITIES : |
|||
| a) NET PROFIT/ (LOSS) BEFORE TAX AND EXTRAORDINARY ITEMS ADJUSTMENTS FOR: |
36.36 | (10.71) | |
| Dividend Received | (34.54) | (0.31) | |
| Fair value (gain)/ loss on investments | 0.63 | (2 .28) | |
| Interest on IT Refund | (0.01) | (0.00) | |
| Interest Received | (17.29) | NIL | |
| Interest Paid | 1.26 | NIL | |
| L/C Discounting Charges | 11.5 1 | NIL | |
| Expenses related to investment activities | 0.06 | NIL | |
| Depreciation and Amortisation Expenses | 0.02 | NIL | |
| b) OPERATING PROFIT/ (LOSS) BEFORE WORKING CAPITAL CHANGES ADJUSTMENTS FOR: |
(2.0 1) | (13.30) | |
| (Increase)/ decrease in Other Non-<:urrent Assets | 5.29 | (1.83) | |
| (Increase)/ decrease in Trade Receivables | 615.53 | (640.46) | |
| (Increase)/ decrease in Inventories | NIL | 2.12 | |
| (Increase)/ decrease in Other Current Assets | (1.44) | NIL | |
| lncrease/(decrease) in Trade Payables | (672.10) | 675. 10 | |
| lncrease/(decrease) in Other Current Financial Liabilities | 1.52 | (8.83) | |
| lncrease/(dccrease) in Other Current Liabilities | 0.06 | 0.37 | |
| CASH GENERATED FROM OPERATIONS | (53. 14) | 13. 19 | |
| Income Tax (Paid) / Refund | (5.22) | 0.00 | |
| NET CASH FROM / (USED IN) OPERATING ACTIVITIES | (58.36) | 13. 19 | |
| B. CASH FLOW FROM INVESTING ACTIVITIES: | |||
| Purchase of Intangible Assets | (0.20) | NIL | |
| Expenses related to investment activities | (0.06) | NIL | |
| (Purchases)/Sale of Investments (net) | (0.28) | (1.27) | |
| Interest Received | 17.29 | NIL | |
| Dividend Received | 34.54 | 0.31 | |
| NET CASH FROM/(USED IN) INVESTING ACTIVITIES | 5 1.30 | (0.96) | |
| C. CASH FLOW FROM FINANCIAL ACTIVITES | |||
| Interest Paid | (1.26) | NIL | |
| L/C Discounting Charges , |
(11.5 1) | NIL | |
| NET CASH FROM/ (USED IN) FINANCIAL ACTIVITIES | (12.77) | NIL | |
| NET INCREASE/ (DECREASE) IN CASH AND CASH EQUNALENTS | (19.83) | 12.23 | |
| CASH AND CASH EQUIVALENTS AS AT 1.4.2019 (OPENING BALANCE) |
37.34 | 25.1 1 | |
| CASH AND CASH EQUIVALENTS AS AT 31.3.2020 (CLOSING BALANCE) |
17.51 | 37.34 |
S. S. Rathi & Co. 502, Shree Shivdutta Apartment, Near Lalit Restaurant, Station Road. Goregaon (W), Mumbai - 400 062 CHARTERED ACCOUNTANTS Tel.: +91 22 2876 2159 I 6236 0705 / 2879 7415 E-mail: [email protected] I [email protected] Website : www.ssrca.com
~Auditor's Report on annual consolidatedfinancial results of SPV Global Trading Limitedpursuant toRegulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015
To, The Board of Directors of SPV Global Trading Limited
Report on the audit of the Consolidated Financial Results
Opinion
We have audited the accompanying Statement of Consolidated Financial Results of SPV Global Trading Limited (the "Holding Company") and its subsidiaries (together referred to as the "Group") for the year ended 31st March, 2020 ("Statement"), attached ere~ith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations" ).
In our opinion and to the best of our information and according to the explanations given to us, these Consolidated Financial Results:
- include the annual financial results of the following:
| Name of the Entity | Relationship |
|---|---|
| a. Rashtriya Metal h1dustries Limited |
Subsidiary |
| b. RMIL Real Estate LLP |
Subsidiary |
| (Subsidiary p f Rashtriya Metal Industries Limited) |
- u. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requil'ements) Regulation, 2015 as amended; and
- iii. gives a true and fair view in conformity with the applicable accounting st«;mdards and other accounting principles generally accepted in India, of the net profit and total comprehensive income and other financial information of the Group for the year ended 31st March, 2020.
due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Board of Directors of the Holding Company.
In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in Group are responsible for assessing each 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 the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
The' respective Board of Directors of the Group are also responsible for overseeing the Company's financial reporting process of each entities.
Auditor's Responsibilities for the Audit of the ConsolidatedFinancial Results
the override of internal control.
Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results as a whole is 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 this Consolidated Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- identify and assess the risks of material misstatement of the Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtaip 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
- obtain an understanding of internal financial controls with reference to consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the ConsolidatedFinancial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the Consolidatedfinancial results under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the I CAl's Code of Ethics. We believe that the audit evidence obtained by us along with consideration of audit reports of other auditors referred to in sub paragraph of "Other Matters" below, is sufficient and appropriate to provide a basis for our opinion on the Consolidated financial results.
Emphasis of Matter
We draw attention to Note No.4 to the Consolidated Financial Results, about the COVID-19 pandemic impact on the Company's and its subsidiaries operations and financial performance which is dependent on future developments, which are highly uncertain. . .
Our opinion is not modified in respect of this matter.
Management's Responsibilities for the ConsolidatedFinancial Results
The Statement has been compiled from related audited Consolidated Financial Statements.
The Holding Company's Board of Directors are responsible for the preparation and presentation of the Consolidated Financial Results that gives a true and fair view of the net profit and total comprehensive income and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The , respective Board of directors of the companies included in Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each entities and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the· accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Consolidated Financial Results that give a true and fair view and are free from material misstatement, whether
- evaluate the appropriateness of acconnting 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 ability of the Group 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 ConsolidatedFinancial Results 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 Group to cease to continue as a going concern.
- evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
- obtain sufficient appropriate audit evidence regarding the Consolidated Financial Information of the entities within the Group to express an opinion on the
- Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
We communicate with those charged with governance of the Holding Company, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that r-re 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 ..
We also performed procedures in accordance with the Circular No. CIR/CFD/CMDl/ 44/2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
Other Matter
We did not audit the consolidated financial statements of subsidiaries included in the consolidated financial results, whose financial statements reflect total assets of Rs. 34297.49lacs as at 3Jst March, 2020 and total revenues of Rs. 45703.661acs, total net profit after tax of Rs 14000.58lacs and total comprehensive income of Rs. 13983.79 lacs for the year ended on that date, as considered in the Consolidated Financial Results. These financial statements have been audited, by other a\lditors whose reports have been .. furnished to us by the Management and our opinion and conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us are as stated under Auditor's Responsibilities section above.
Our opinion on the consolidated financial results is not modified in respect of the above matter with respect to our reliance on the work done and the reports of the other auditors.
The Statement includes the results for the quarter ended 3151 March, 2020 and 3151 March,2019 which are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year-to-date figures up to 9 months of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations. Our opinion is not modified in respect of this matter
For S. S. Rathi & Co Chartered Accountants (Firm Re 8726W) ,
,.-·· ..---~· D.P. Rathi Partner M. No. 04.2068
Place : Mumbai Date: 31.07.2020 UDIN:20042068AAAAAS1222
SPV GLOBAL TRADING LIMITED
CIN: L27100MH1985PLC035268
Regd.Off : 28/30, Anantwadi, Mumbai-400 002 Email: [email protected]; Telephone: 022-22014001; Fax: 022-22014003
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
| As At 31.03.2020 Amt (Rs.) |
( in Lacs) As At 31.03.2019 Amt (Rs.) |
|
|---|---|---|
| ASSETS | ||
| Non-current Assets | ||
| Property, Plant and Equipment | 8,734.92 | 9,151.62 |
| Capital work-in-progress | 601.44 | 130.56 |
| Investment in Bullion | 1.40 | 1.40 |
| Other Intangible Assets | 4.58 | 7.69 |
| Financial Assets | ||
| Investments | 7.61 | 7.90 |
| Other Financial Assets | 4,308.04 | 37.95 |
| Current Tax Assets (Net) | 34.37 | 33.64 |
| Other Non-current Assets | 98.82 | 378.48 |
| 13,791.19 | 9,749.24 | |
| Current Assets | ||
| Inventories | 10,218.10 | 8,927.42 |
| Financial Assets | ||
| Trade Receivables | 5,526.80 | 6,035.45 |
| Cash and Cash Equivalents | 403.33 | 257.79 |
| Other Bank Balances | 1,617.30 | 2,145.30 |
| Loans | 303.32 | NIL |
| Other Financial Assets | 72.16 | 98.15 |
| Other Current Assets | 2,398.53 | 1,998.11 |
| 20,539.55 | 19,462.21 | |
| TOTAL ASSETS | 34,330.73 | 29,211.45 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity Share Capital | 24.50 | 24.50 |
| Other Equity | 11,786.29 | 4,768.31 |
| Non-controlling Interest | 11,832.63 | 4,912.05 |
| 23,643.41 | 9,704.86 | |
| Non-current Liabilities | ||
| Financial Liabilities | ||
| Borrowings | 22.49 | 1,764.78 |
| Other Financial Liabilities | 177.37 | 176.12 |
| Provisions | 62.48 | 51.77 |
| Deferred Tax Liabilities (net) | 974.64 | 565.00 |
| Other Non-current Liabilities | NIL | 2,500.00 |
| 1,236.98 | 5,057.68 | |
| Current Liabilities | ||
| Financial Liabilities | ||
| Borrowings | 2,375.26 | 7,051.98 |
| Trade Payables -Due to Micro Enterprises & Small Enterprises |
NIL | NIL |
| -Due to Others | 6,245.52 | 6,254.00 |
| Other Financial Liabilities | 41.95 | 540.51 |
| Provisions | 95.08 | 46.23 |
| Current Tax Liabilities (Net) | 71.40 | 19.12 |
| Other Current Liabilities | 621.13 | 537.07 |
| 9,450.33 | 14,448.91 | |
| TOTAL EQUITY AND LIABILITIES | 34,330.73 | 29,211.45 |
For SPV Global Trading Limited
$\bigwedge_{\text{Balkrishna Binan}}$
Director DIN: 00175080
$\mathfrak{p}$
Place: Mumbai Dated: 31st July, 2020
SPV GLOBAL TRADING LIMITED CIN: L27100MH1985PLC035268 Regd.Off: 28/30, Anantwadi, Mumbai-400 002 Email: [email protected]; Telephone: 022-22014001; Fax: 022-22014003
Statement of Audited Consolidated Financial Results for the Quarter & Year ended 31st March, 2020
| (` in Lacs) | ||||||
|---|---|---|---|---|---|---|
| S. No. | PARTICULARS | 3 months ended 31.03.2020 |
3 months ended 31.12.2019 |
Corresponding 3 Months ended 31/03/2019 in the previous year |
Year ended 31/03/2020 |
Year ended 31/03/2019 |
| (Audited) (Refer Note 3) |
(Unaudited) | (Unaudited) | (Audited) | (Audited) | ||
| $\mathbf{1}$ | Income From Operations | |||||
| (a) Revenue from Operations | 9963.46 | 11206.04 | 14.532.83 | 45,427.68 | 44.124.83 | |
| (b) Other Income | 148.24 | 55.67 | 385.91 | 429.08 | 513.47 | |
| Total Income From Operations (Net) | 10,111.70 | 11,261.71 | 14,918.74 | 45,856.76 | 44,638.30 | |
| $\overline{2}$ | Expenses | |||||
| a) Cost of materials consumed | 7385.52 | 7285.92 | 10,585.47 | 33567.41 | 30437.50 | |
| b) Purchases of Stock-in-trade | 897.31 | 1162.20 | 762.54 | 2932.10 | 1075.77 | |
| c) Changes in inventories of Finished Goods, WIPs & Stock-in-Trade |
$-910.52$ | 207.03 | 867.91 | $-1325.65$ | 3017.51 | |
| d) Employee Benefits expense | 724.59 | 406.18 | 192.74 | 1931.10 | 1544.71 | |
| e) Finance Costs | 105.33 | 185.25 | 544.61 | 952.58 | 2022.71 | |
| f) Depreciation & Amortisation Exp. | 154.73 | 156.75 | 153.78 | 623.49 | 621.78 | |
| g) Other Expenses | 1186.33 | 1483.78 | 1,484.04 | 5950.13 | 4653.50 | |
| Total Expenses | 9,543.30 | 10,887.11 | 14,591.10 | 44,631.15 | 43,373.49 | |
| 3 | Profit before Exceptional items and tax | 568.40 | 374.59 | 327.64 | 1,225.60 | 1,264.80 |
| $\overline{4}$ | Exceptional items | Nil | Nil | Nil | 15,365.87 | Nil |
| 5 | Profit before tax | 568.40 | 374.59 | 327.64 | 16,591.48 | 1,264.80 |
| 6 | Tax Expenses | |||||
| Current Tax | $-1032.04$ | 1.60 | 96.72 | 2.169.79 | 286.72 | |
| Deferred Tax | 380.27 | 2.78 | 128.28 | 409.69 | 180.05 | |
| Prior Period Tax adjustments | 9.13 | Nil | NIL | 9.13 | 11.14 | |
| $\overline{7}$ 8 |
Net Profit for the period (5-6) | 1,211.04 | 370.21 | 102.65 | 14,002.86 | 786.90 |
| Other Comprehensive Income Net fair value gain/(loss) on investments in equity instruments through OCI |
(0.07) | 0.03 | (0.43) | (0.09) | (0.37) | |
| (net of tax) Remeasurement of post employement benefit obligation (net of tax) |
(16.80) | Nil | Nil | (16.80) | (3.20) | |
| $\mathbf{Q}$ | Total Comprehensive Income for the year | 1,194.17 | 370.24 | 102.22 | 13,985.97 | 783.33 |
| PROFIT ATTRIBUTABLE TO | ||||||
| Owner of the Company | 610.21 | 189.62 | 38.51 | 7,073.97 | 385.34 | |
| Non-controlling interests | 600.83 | 180.60 | 53.00 | 6,928.89 | 401.56 | |
| TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO | ||||||
| Owner of the Company | (8.56) | 0.03 | (2.04) | (8.57) | (1.99) | |
| Non-controlling interests | (8.31) | Nil | (1.58) | (8.31) | (1.58) | |
| 10 | Paid-up Equity Capital (Face Value Rs.10/- per share) | 24.50 | 24.50 | 24.50 | 24.50 | 24.50 |
| 11 | Other Equity | 11,786.29 | 4,768.31 | |||
| 12 | i. Earning per share of Rs. 10/- each | |||||
| (a) Basic (In Rs.) | 494.30* | $151.11$ * | 41.90* | 5.715.45 | 321.18 | |
| (b) Diluted (In Rs.) *not Annualised |
494.30* | $151.11$ * | 41.90* | 5,715.45 | 321.18 |
NOTES:
The above results which are published in accordance with Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements), 2015 have been reviewed by the Audit $\mathbf{1}$ Committee and approved by the Board of Directors at their meeting held on 31st July, 2020. The financial results are in accordance with the Indian Accounting Standards (Indian AS) as prescribed under Section 133 of the Com Accounting Standards) Amendment Rules, 2016. The results have been audited by the Statutory Auditors of the Company.
The consolidated financial statements are prepared in accordance with the principles and procedures for the preparation and presentation of Consolidated Accounts as set out $\overline{2}$ in Ind AS 110 "Consolidated Financial Statements" notified by Ministry of Corporate Affairs. The consolidated financial statements of the Holding Company include its subsidiary
combined on a line-by-line basis by adding to and resulting unrealised gains/ losses. The consolidated financial statements are prepared applying uniform accounting on all material items.
The consolidated financial statements prepared by the subsidiary is used for the purpose of consolidation
| List of subsidiary entities which are included in the Consolidated Financial Results: | ||
|---|---|---|
| Name of the Entity | % of Ownership Interest (31st) | % of Ownership Interest (31st) |
| March, 2020) | March, 2019) | |
| Rashtriva Metal Industries Ltd | 50.51% | 50.51% |
| 1) RMIL Real Estate LLP | 99.99%* | NIL |
*Represents the holding percentage of Rashtriya Metal Industries Ltd and does not indicate the effective percentage holding of the Holding Company.
The figures of the 3 Months ended 31.03.2020 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto 9 months of current financial year, which wer $3$
4 COVID-19 was declared a Global pandemic on 11 March, 2020 by the WHO and the Government of India announced a Lockdown on 24th March, 2020. We belive that the impact assessment of this pandemic is a continuous evolving process, given its intensity in the financial Capital of India. Our Group shall continue to monitor all material changes to future conditions arising due to the pandemic.
5 Figures to the previous periods have been regrouped, wherever necessary, to correspond with the figures of the current period.
Place: Mumbai Dated: 31st July, 2020
For SPV Global Trading Limited m krishna Binani Director DIN: 00175080 IVaw
SPV GLOBAL TRADING LIMITED (formerly known as Tarrif Cine and Finance Ltd)
CIN: L65990MH1985PLC035268
Ciri, Loossoni (1995) Loossoni
Regd.Off : 28/30, Anantwadi, Mumbai-400 002
Email : [email protected]; Telephone: 022-22014001; Fax: 022-22014003
Consolidated Statement of cash flows as per Regulation 33(3)(g) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended
| As At | As At | |
|---|---|---|
| 31.03.2020 | 31.03.2019 | |
| Amt (Rs.in lacs) | Amt (Rs.in lacs) | |
| A. CASH FLOW FROM OPERATING ACTIVITIES : | ||
| a) NET PROFIT BEFORE TAX AND EXTRAORDINARY ITEMS ADJUSTMENTS FOR: |
16,591.48 | 1,264.80 |
| Dividend Received | (0.34) | (0.31) |
| Provision for Doubtful Debts/Bad Debts | NIL | 26.56 |
| Interest Paid | 941.06 | 2,022.71 |
| Fair value (gain)/loss on Investments | 0.63 | (2.28) |
| Interest received | (229.02) | (143.72) |
| Depreciation | 623.49 | 621.78 |
| L/C Discounting Charges | 11.51 | NIL |
| Interest on IT Refund | (0.01) | (0.00) |
| Expenses related to investment activities Licence Fees, Profit on sale of Immovable Asset/Investment & compensation received |
0.06 (46.96) |
NIL (91.09) |
| b) OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES | 17,891.88 | 3,698.47 |
| ADJUSTMENTS FOR: | ||
| Increase /(Decrease) in Other Current Financial Liabilities | 6.62 | (13.85) |
| Increase /(Decrease) in Other Non-Current Financial Liabilities | 1.25 | (51.94) |
| Increase /(Decrease) in Current Provisions | 48.85 | 25.54 |
| Increase /(Decrease) in Other Current Liabilities | 84.06 | 43.92 |
| Increase /(Decrease) in Non-current Provisions | 10.71 | 26.56 |
| Increase /(Decrease) in Trade and Other Payables | (8.48) | (2,672.60) |
| Increase /(Decrease) in Current Borrowings | (4,676.72) | 271.41 |
| (Increase)/Decrease in Other Non-current Financial Assets | (4.270.09) | (28.96) |
| (Increase)/Decrease in Other Non-current Assets | 279.65 | (457.29) |
| (Increase)/ Decrease in Inventories | (1, 290.69) | 2,093.20 |
| (Increase)/ Decrease in Short-term Loans and Advances | (277.34) | 57.89 |
| (Increase) / Decrease in Trade Receivables and Other Receivables | 1,036.65 | 61.47 |
| (Increase)/Decrease in Other Current Assets | (400.42) | 798.71 |
| CASH GENERATED FROM OPERATIONS | 8,435.94 | 3,852.50 |
| Income Tax Paid | (2, 147.06) | (501.73) |
| NET CASH FROM/(USED IN) OPERATING ACTIVITIES | 6,288.88 | 3,350.77 |
| B. CASH FLOW FROM INVESTING ACTIVITIES: | ||
| Purchase of Fixed Assets & Capital Work in progress | (671.46) | (203.87) |
| Purchase of Intangible Assets | (0.20) | NIL |
| (Purchases)/Sale of Investments (net) | (0.48) | 26.95 |
| Advance received against Sale of Factory Land | (2,500.00) | NIL |
| Dividend Received | 0.34 | 0.31 |
| Interest Received | 229.02 | 143.72 |
| License Fees and Compensation Received | 46.96 | 91.09 |
| Proceeds from/(investment in) bank deposits | NIL | (639.60) |
| Expenses related to investment activities | (0.06) | NIL |
| Realisation/(payment) in Unclaimed Dividend A/c | NIL | (0.10) |
| NET CASH FROM/(USED IN) INVESTING ACTIVITIES | (2.895.87) | (581.51) |
| C. CASH FLOW FROM FINANCIAL ACTIVITES | ||
| Proceeds from Borrowings | (2, 247.47) | (476.26) |
| Interest Paid | (941.06) | (2,009.41) |
| L/C Discounting Charges | (11.51) | |
| Redemption of Preference Shares | (20.00) | |
| Dividend including tax paid | (47.42) | (61.30) |
| NET CASH FROM/(USED IN) FINANCIAL ACTIVITIES | (3, 247.47) | (2, 566.97) |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | z. 145.54 |
202 |
| CASH AND CASH EQUIVALENTS AS AT 1.4.2019 ٦ (OPENING BALANCE) |
257.79 | 55.50 |
| CASH AND CASH EQUIVALENTS AS AT 31.3.2020 GRIMP DALAMPER |
403.33 | 257.79 |
$\Omega$
$\mathcal{M}$
