Steelcast Ltd. — Interim / Quarterly Report 2021

Oct 29, 2021

INDIA 364 005 PHONE (91) (278) 251 9062 FAX (91) (278) 251 9831 E-MAIL Info@steeicast.net WEBSITE www.steelcast.net CIN L27310GJ1972PLC002033

AC\2079 By Listing Centre October 29, 2021

To, Listing Compliance Department, BSE Limited, Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001

Dear Sir,

Sub: Outcome of the 274" meeting of the Board of Directors of STEELCAST LIMITED held on October 29, 2021, at the registered office of the company. Ref: Scrip Code 513517 .

With reference to the captioned subject, we wish to inform you that the meeting of the Board of Directors of STEELCAST LIMITED held today i.e. October 29, 2021, at 1512 Hours and concluded atlé2sHours, at the registered office of the company. Please note that the following © matters inter alia have been- considered, approved and taken on record by the Board of Directors:

• 1. Un-audited (Standalone) Financial Results for the quarter and half year ended September 30, 2021 as enclosed herewith.
• 1. An interim Dividend of Rs. 1.35/- per equity share of face value of Re. 5/- each (27%) for the financial year 2021-22.
• 1. The Record Date for the purpose of Interim Dividend as November 15, 2021.
• 1. Resignation of Mr. Mahesh L Purohit from the position of Company Secretary, Compliance Officer and Nodal Officer of the Company effective from closing hours on November 1, 2021.
• 1. Appointment of Mr. Umesh V Bhatt, as Company Secretary, Compliance Officer and Nodal ' Officer of the Company effective from November 2, 2021. The intimation regarding this appointment under Regulation 30(2) read with Clause 7 of Para A of Part A of Schedule III of SEBI Listing Obligations and Disclosure Requirement) Regulation 2015 & SEBI circular no CIR/CFD/CMD/4/2015 dated September 09, 2015 is given as follows:

Particulars of appointment of Mr. Umesh V Bhatt as Company Secretary and Compliance Officer of the Company:

Sr	Particulars Officer of the Company:	Particulars	of appointment of Mr. Umesh V Bhatt as Company Secretary and Compliance
No. 1		Reason of Change	Disclosures
2		Date of Appointment	Appointment November 2, 2021
3
	Sr. No.	PARTICULARS	Brief Profile REMARKS
	1.	NAME IN FULL	UMESHKUMAR V BHATT
	2.	FATHERS NAME	VASANTRAY B BHATT
			COMPANY SECRETATY COMPLIANCE &
	3.	DESIGNATION IN THE COMPANY
	4.		OFFICER
	5.	CATEGORY	KEY MANAGERIAL PERSONNEL
	6.	EDUCATIONAL QUALIFICATION RESIDENTIAL ADDRESS ,	B.COM, LL.B. (GENERAL) AND FCS C/O PLOT NO 245-D/1, NUTAN NAGAR 3, MAHUVA COLLEGE HOSTEL, NR. DIST:
			BHAVNAGAR, GUJARAT — 364290
	7.	DATE OF BIRTH	11.11.1973
	8.	EMAIL ID	cs@steelcast.net
	9.	CONTACT NUMBER	6359630089
	10.	NUMBER OF SHARES HELD	NiL
	11.	DSC DETAILS	AVAILABLE
	12.	WORK EXPERIENCE	1) 8 YEARS AS COMPANY SECRETARY AND 6 YEARS AS MANAGER (ACCOUNTS AND COSTING) IN LISTED PUBLIC LIMITED
	13.	SPECIALIZATION	COMPANY. CORPORATE COMPLIANCES, LAWS, SEBI
4		Disclosures of relationships between	ACCOUNTS AND AUDIT N.A

You are requested to take the above on your record.

Thanking you,

Yours faithfully, For ELCAST LIMITED

ubhash Sharma) CHIEF FINANCIAL OFFICER

L:\AC\2079\COMPLIANCES\SECRETARIAL\MEETINGS\BOARD MEETING\2021.10.29 BM\Outcome\outcome of BM Reg 30(2) 30(6) 51(1) 51(2).docx

Regd. Office: Ruvapari Road, Bhavnagar, Gujarat 364005 STEELCAST LIMITED Phone No.0278-2519062, Email ID Info@steelcast.net www.steelcast.net CIN:L27310GJ1972PLC002033 Financial Results for the Quarter & Half Year ended September 30, 2021

				STEELCAST LIMITED
				Regd. Office: Ruvapari Road, Bhavnagar, Gujarat 364005 Phone No.0278-2519062, Email ID Info@steelcast.net www.steelcast.net CIN:L27310GJ1972PLC002033
		Financial Results for the Quarter & Half Year ended September 30, 2021						(Rs. in Lakhs except EPS)
Sr. No.		Particulars	30/09/2021	Quarter Ended 30/06/2021		Year to Date 30/09/2020 30/09/2021 30/09/2020 31/03/2021		Year Ended
	Income		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1		a Net Sales/Income from Operations	7,740.80	§,259.16	3,479.46	12,999.96		5,849.98 15,772.98
		b Other Income c Total Income (sum of a & b)	11.37 7,752.17	1.85 5,261.01	72.50 3,551.96	13.21 13,013.17	106.13 §,956.11	149.02 15,922.00
		2 Expenses a Cost of materials consumed	2,568.26	1,524.38	719.87	4,092.65	1,082.56	3,629.19
		b work progtess of finished goods,	(894.53)	(372.39)	(42.45)	(1,266.92)	321.80]	(233.65)
		c Employee benefit expense	682.80	626.61	482.13	1,309.41	850.29	1,985.44
		d Finance Cost e Depreciation and amortisation expense	21.64 470.54	19.29 426.39	101.21 292.35	40.93 896.92	185.00 583.42	359.01 1,381.85
		f Manufacturing Expenses	859.05	541.39	371.64	1,400.44	610.31	1,958.75
		g Power, Fuel and water charges h Consumption of Stores & Spares	1,226.64 1,275.03	813.78 802.76	614.56 442.46	2,040.41 2,077.79	942.64 658.58	2,521.28 2,074.92
		i Other Expenses j Total Expenses (sum of a to i)	231.57 6,441.00	167.07 4,549.27	153.85 3,135.64	398.63 10,990.27	265.17 5,499.77	680.81 14,357.60
3		(ez) before exceptional items and tax	1,314.17	714.74	416.32	2,022.91	456.34	1,564.40
		Addi(Less): Exceptional Item	-	-	-	-	-	-
		5 Profit Before Tax (3+4) 6 Tax Expense	1,311.17	711.74	416.32	2,022.91	456.34	1,564.40
		a Current Tax b MAT Credit Entitlement	395.13	259.53	117.93	654.66	147.52	538.14
	c	yeare, (Excess) provision of tax of earlier	- 7	- 7	- 8.48	- 7	- 8.48	44.98 6.74
		d Deferred Tax	(65.01)	(77.11)	(61.28)	(142.12)	(80.42)	(227.58)
		e Total Tax Expense (sum of a to d) 7 Profit / (Loss) for the period (5-6e)	330.12 981.05	182.42 529.32	65.13 351.19	512.54 1,510.36	75.58 380.76	362.28 1,202.12
		8 Other Comprehensive Income
	a	Items not to be reclassified subsequently to profit or loss
		gain / (loss) on defined benefit plane	(6.91)	(34.50)	(19.65)	(41.41)	5.42	9.61
	ii	ii Income tax effect on above ain I (oss) on fair valuation of equity	1.74 (0.04)	8.68 0.09	5.94	10.42 0.05	(1.36) 7	(2.42) 0.18
		iv [ Income tax effect on above	-	-	-	-	-	-
	b	'tems to be reclassified subsequently to profit or loss	7	_	_	;	;	-
	c	year net of tox teurn ofa Bb) for the	(5.21)	(25.72)	(13.71)	(30.93)	4.05	7.37
9	Ges)	rehensive Income, net of tax	975.84	503.59	337.47	1,479.43	384.81]	1,209.49
		10 Re gwen share) Capital (Face Value	1,012.00	1,012.00	1,012.00	1,012.00]	1,012.00]	1,012.00
		11 Other equity excluding revaluation reserves Earnings Per Share (EPS) of Rs. 5/- each (Not Annualised)						11,865.37
	12 - Basic		4.85		1.74	746	1.88	5.94
		- Diluted (See accompanying notes to the Financial Results)	4.85		1.74	7.46	1.88	5.94

Steelcast Limited

Steelcast Limited Summarised Balance Sheet as on September 30, 2021
			(Rs. in lakhs)
Particulars		As on
ASSETS	30.9.2021	30.9.2020	31.3.2021
Non-Current Assets Property, Plant and Equipment	9,154.00	10,000.50	9,706.84
Capital Work-in-Progress	354.33	19.78	84.59
intengible Assets Financial Assets	87.99	142.49	114.60
Investments Non Current: Loans	8.90	8.63 31.66	8.85
Non-Current Tax Assets (Net)	2.21 -	96.60	2.18 -
Other Non Current Assets Total Non Current Assets	1,010.10 10,617.52	1,010.10 11,309.77	1,010.10 10,927.15
Current Assets
Inventories Financial Assets	4,223.38	1,767.99	2,563.35
Trade Receivables Cash and Cash Equivalents	6,959.31 11.13	3,212.30 672.75	5,137.00 6.61
Other Bank Balances	229.08	988.28	139.45
Loans Other Financial Assets	12.34 18.90	3.77 0.62	10.53 1.22
Other Current Assets Total	1,041.72 12,495.86	217.32 6,863.02	439.80 8,297.95
Assets Classified as Held for Sale	-	-	0.18
Total Current Assets Total Assets	12,495.86 23,113.38	6,863.02 18,172.79	8,298.13 19,225.28
EQUITY AND LIABILITIES
Equity Equity Share Capital	1,012.00	1,012.00	1,012.00
Other Equity Total Equity	13,071.56 14,083.56	11,040.68 12,052.68	11,865.37 12,877.37
Non-Current Liabilities
Financial Liabilities Borrowings	174.75	684.34	883.98
Provisions Deferred Tax Liabilities (Net)	141.27 686.44	96.67 940.11	125.39 838.99
Other Non-Current Liabilities Total Non Current Liabilities	0.00	360.04	203.26
Current Liabilities	1,602.47	2,081.16	2,051.61
Financial Liabilities Borrowings	3,366.95	760.48	499.99
Trade Payable:
(a) Total outstanding dues of Micro Enterprises and Smail Enterprises; and	-	-	-
(b) Total outstanding dues of Creditors other than	1,775.02	862.84	1,401.49
Micro Enterprises and Small Enterprises. Other Financial Liabilities	4,669.58	1,998.02	1,717.25
Provision Other Current Liabilities	108.40 507.41	136.24 281.37	92.60 583.97
Total	7,427.36	4,038.94	4,295.31
Liabilities directly associated with Assets Classfified as Held for Sale	-	-	1.00
oe Total Current Liabilities Total Liabilities	7,427.36 9,029.83	4,038.94 6,120.10	4,296.31 6,347.92
Wee Total Equity and Liabilities	23,113.38	18,172.79	19,225.28

Steelcast Limited

Statement of Cash Flow for the half year ended September 30, 2021

	Steelcast Limited
	Statement of Cash Flow for the half year ended September 30, 2021				(Rs. in lakhs)
	Particulars	30/09/2021		30/09/2020
A	CASH FLOW FROM OPERATING ACTIVITIES :
	Net Profit before Taxation Adjustments for -		2,022.91		456.34
	Income Tax Exp Depreciation and amortisation	896.92		583.42
	(Profit) /Loss on sale of Property, Piant & Equipment (Profit) /Loss on Impairment of Trade Receivable	(12.59) 1.86		(48.18) (22.70)
	(Profit) /Loss on sale of Share Investment Exchange Rate Difference (MTM) :	- 7.16		- (64.79)
	EPT Customer Discount Unamortize Loan Processing Charges	4.14 4.30		0.98 9.98
	Interest expense(net) Operating Profit Before Working Capital Changes	32.11	933.91 2,956.82	157.63	616.33 1,072.68
	Adjustments for -
	Trade Receivables ° Inventories	(1,822.31) (1,660.04)		(378.91) 534.86
	Other Financial and Non Financial Assets Non-Current/Current financial and other liabilities /provisions	(610.44) (45.87)		1,378.31 (291.03)
	Cash Generated From Operations		(1,181.84)		2,315.91
	Direct Taxes (Payments)/Refunds		(608.50)		(158.00)
	Income Tax Refund Received NET CASH FROM OPERATING ACTIVITIES		1.62 (1,788.72)		2,157.91
	CASH FLOW FROM INVESTING ACTIVITIES :
	Purchase of Property, Plant & Equipment Sale of Property, Plant & Equipment (including held for sale)	(682.45) 23.32		118.62 161.73
	Interest received	4.52		27.37
	NET CASH FROM INVESTING ACTIVITIES CASH FLOW FROM FINANCING ACTIVITIES :		(654.62)		307.71
C	Proceeds/(Repayment) from Long Term Borrowings	(109.23)		(564.34)
	Interest paid Dividend paid	(36.63) (273.24)		(175.02) (121.44)
	NET CASH USED IN FINANCING ACTIVITIES		(419.10)		(860.80)
	NET INCREASE IN CASH AND CASH EQUIVALENTS		(2,862.44)		1,604.82
	'Cash and Cash Equivalents as at beginning of the year		(493.38)		(1,692.55)
	Working Capital finance from banks (Net Change)		-
	Cash and Cash Equivalents as at end of the year		(3,355.82)		(87.73)
	Reconciliation of Cash and Cash equivalents as per the Cash Flow Statement
	Cash and Cash equivalents as per above comprise of the following:		30.09.2021		30.09.2020
			11.13		672.75

Reconciliation of Cash and Cash equivalents as per the Cash Flow Statement
30.09.2021	30.09.2020
11.13	672.75
(3,366.95)	(760.48)
(3,355.82)	(87.73)

Notes:

Notes:
1	The financial results of the Company for the quarter & half year ended September 30, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 29, 2021.
2	The Company's operations at present are confined to only one segment namely "Casting Business".
3	Figures for the quarter ended 30 September, 2021 are the balancing figures between limited reviewed figures of previous quarter ended on 30 June, 2021 and year-to-date figures upto second quarter ended of the respective financial years.
4	The Board of Directors declared an interim dividend of Rs 1.35 per equity share of face value of Rs.5.00 each (i.e. 27.00 %) for the financial year ending March 31, 2022 at its meeting held on October 29, 2021. The record date for the purpose of determining the entitlement for payment of interim dividend is fixed at November 15, 2021.
5	The results for the quarter and half year ended September 30, 2021 are available on the website of the stock exchange at www.bseindia.com and on the Company's website www.steelcast.net.
6	The figures of the previous periods have been regrouped/ reclassified, wherever necessary.

For STEELCAST LIMITED

(Chetan M Tamboli) CHAIRMAN & MANAGING DIRECTOR October 29, 2021 DIN : 00028421

Place: Bhavnagar

Date:

BOP 232, Centre Paint, Rupani Ail, Ghoghea Circls, Bhaynagar-384 OCF, Tel . G278 2470867 / 28508 A. Branch - 172, Kadambari Apartment, Near Jodhpur Cross Road., Behind Star Bazar, Satellite, ANWEDABAD . 880 018. Telefax : 078. 26781174, ague4azus 8480800340 email : ssm.co.bun@gniail.cam

LIMITED REVIEW REPORT

To

The Board of Directors STEELCAST LIMITED

We have reviewed the accompanying Statement of unaudited financial results of STEELCAST LIMITED ("the Company") for the quarter ended September 30", 2021 ('the Statement") being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.

This Statement, Which is the responsibility of the company's Management and approved by the company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), as prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

We conducted our review 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 financial statement is free of material misstatement. A review is limited primarily to inquiries of the 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.

Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited Results, prepared in accordance with the applicable Companies (Indian Accounting Standards) Rules, 2015 prescribed under Section ¹³³of the Companies Act, 2013 and other recognized accounting practices and principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

ForSSM&Co, Chartered Accountants FRN : 129198W

Sarju Sureshbhai: Mehta .

Bhavnagar CA SARJU MEHTA 29" October 2021 Partner UDIN : 21106804AAAABN1056 M. N. 106804

vu

	INDIA 364 005
PHONE	(91) (278) 251 9062
FAX	(91) (278) 251 9831
E-MAIL	info@steelcast.net
WEBSITE	www.steelcast.net
CIN	L27310GJ1972PLC002033

MD/CEO & CFO CERTIFICATION ON FINANCIAL RESULTS

To, The Board of Directors STEELCAST LIMITED

We hereby certify that financial results of Steelcast Limited for the quarter ended September 30, 2021 do not contain any false or misleading statement(s) or figures and do not omit any material facts which may make the statements or figures contained therein misleading.

Place: Bhavnagar Dated: 29.10.2021

(Chetan M Tamboli) Managing Director/Chief Executive Officer

, hy ' -

3 ubhash R Sharma) Chief Financial Officer