Super Spinning Mills Ltd. — Earnings Release 2019

May 30, 2019

"2 Super Spinning Mills Limited

Regd. &Central Office: 'EIgI Towers PB. ⁷¹¹³ Green Fields, 737— D, Puliakulam Road, Coimbatore- ⁶⁴¹ 045. CIN: L17111TZ1962PLCOO1200

May 30'", 2019

To

Listing Department	Listing Department
BSE Ltd Phiroze Jeejeebhoy Towers Dalai Street Mumbai -400 001 ' _	of India Limited National Stock Exchange "Exchange Plaza", C-1, Block G Bandra (E)- Bandra — Kurla Complex, Mumbai—400 051
' I V Scrip Code: - 521180	Scrip Code: -SUPERSPIN

Dear Sir,

qr:

Sub. Outcome of meeting of Board of Directors of the Company pursuant to Regulation ³⁰ of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Reg

This is to inform that the Board of Directors of the Company at their meeting held today, interalia considered . and apprOved the following: - . .

1. The audited financial results of the Company for the quarter ^I financial year ended 31St March 2019 along with Auditor's Report pursuant to Reg ³³ of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Statutory Auditors of the Company have expressed an unmodified audit opinionin this regard. The financial results have been annexed as Annexure 1.

2. Re--appointment of Mr.Sumanth Ramamurthi (DIN: 00002773) as Chairman cum Managing Director of the Company with effect from lst April ²⁰²⁰ for ^a period of 3years, subject to the approval of the shareholders of the Company- Annexure ^{2 I}

3. Approved the re-appointment of Mr. ^{A R} Balasundharam as Director of the Company at the ensuing AGM, subject to the approval of shareholders of the Company— Annexure ³

4. Payment of consultancy fees to Mr.A.R.Ba|asun_dharam, Non-executive Director for rendering consultancy services, subject to the approval of the shareholders of the Company.

5. Based on the recommendatiOns of the Nomination and Remuneration Committee and subject to the approval of Shareholders at the ensuing Annual General Meeting, the Board has approved the reappointment of Mr. Sudarsan Varadaraj (DIN: 001335333), Mrs. suguna Ravichandran (DIN: 00170190) & Mr. ^{C G} Kumar (DIN: 02823567), who were appointed as Independent Directors at the Annual General Meeting held on 10h September, ²⁰¹⁴ for ^a period of ⁵ years with effect from 01St June ²⁰¹⁴ to 31St May 2019. The Board has recommended the re-appointment Mr. Sudarsan Varadaraj, Mrs. Suguna Ravichandran & Mr. ^{C G} Kumar, as

RECOGNI'VSED EXPORT -TRADING HOUSE , Phone : +91-422 - 231.1711, Fax : 91- 422 — 2311611, E-mail : super@ssh.saraelgi.com Web : www.3uperspinning.com

Super Spinning Mills Limited

Regcl. & Central Office : "Elgi Towers" RB. 7113, Green Fields, 737- D, Puliakulam Road, Coimbatore - 641 045. CIN : L17111T21962PLCOO1200

Independent Directors to the Shareholders for the second consecutive term of five years commencing from 1St June, 2019. All the three directors are not debarred from holding the office of director(s) by virtue of any order of SEBl or any other authority. The disclosure pursuant to Regulation 30(6) of Listing Regulations is enclosed as Annexure- 4.

1. The Balance Sheet as on 31\$t March 2018, the Statement of Profit and Loss, Cash gFiow Statement and Statement of Changes in Equity for the year ended as on that date and the report of the Directors and Auditors thereon.

The declaration under Reg 33 of SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the unmodified opinion of the Auditors on the financial statements of the Company is enclosed and these are also being made available on the website of the Company www.5uperspinningcom

The details as required under SEBl (Listing Obligations and Disclosure Requirements) Regulations, ²⁰¹⁵ and SEBl CirCUlar CIR/CFD/CMD/4/2015 dated 9'Eh September 2015 are attached as Annexure' 2,3,4 Of this letter.

G K ,1 \

The Board Meeting commenced at 11:00 AM and conclu'dedtat 1:30 PM.

This is for your kind information and records.

by Super SpinniQ'g'Mills Ltd

®Marmatha

Company Secretary

/\

Thanking you, Yours truly

RECOGNISED EXPORT -TRADING HOUSE , Phone : +91-422 - 2311711, Fax : 91- 422 - 2311611, E-mail : super@ssh.saraelgi.com Wéb : www.5uperspinning.com

	Regd. Office: "Elgi Towers" P.B.No.7113,737-D.Green Fields, Pullakulam Road Colmbatore - 641045 Telephone No.: 0422-2311711	aanoi amining mina minish	Fax No.: 0422-2311611 E-mail Id: Investors@ssh.saraelgl.com Website: www.superspinning.com
	Statement of audited financial results for the quarter and year ended March 31, 2019 under ind AS	CIN: L17111TZ1962PLC001200
ß.	Particulars		Three months ended		12 months ended	(Rs. In lakhs)
Not		March 31, 2019 (audited)	December 31, 2018 (unaudited)	March 31, 2018 (audited)	March 31, 2019 (audited)	March 31, 2018 (audited)
Ŧ	Income from Operations Net Sales / Income from operations
2	Other Income (Net)	5,122,69 253.45	5,175,65 613.33	5,854.61 36.97	20,812.23 904.09	26,087.92 273,83
3	Total Income (1+2)
		5,376.14 :	2월 809 5,788.98	5,891.58	21,716.32	26,361.75
4	Expenses Cost of materials consumed
	Purchase of stock-in-trade	4,183.23	3,979.95	3,529.62	14,330.21	15,723.59
	Changes in inventories of Finished Goods, Stock-in-Trade & Work-in- progress
	Employee benefit expenses	(411.13) B02.13	(713.04) 860.03	232.60 812.25	(656,37) 3,315.44	948.31 3,532.68
	Power and Fuel Finance costs	896.66 330.38	603.48	961.66	2,578.46	3,895,38
	Depreciation and amortization expense $\mathbb{E}{\mathbf{X}{t}}$	98,57	295.57 108.69	326.50 113.83	1,265,63 409.15	1,381.73 554.82
	Other expenses	451.44	544.57	591.19	1,900.39	2,484.28
	Total Expenses	6,151.28	5,679,25	6,567.65	23,142,91	28,520.79
5	Profit/(Loss) before exceptional items and tax (3-4)	(775.14)	109.73	(676.07)	(1, 426.59)	(2, 159.04)
6 7	Exceptional Items				(19, 50)
	Profit/(Loss) before tax (5+6)	(775.14)	109.73	(676.07)	(1,446.09)	(2, 159.04)
Ĥ	Тах ехрепве Current tax
	Defened tax
	Total Tax Expenses				s.
8	Profit/(Loss) for the period from continuing operations (7-8)	(775.14)	109.73	(676.07)	(1,446.09)	(2, 159.04)
.10	Profit / (Loss) from discontinued operations	(156.48)			(156.46)
11 12	Tax expense of discontinued operations
13	Profit / (Loss) from discontinued operations (after tax) (10-11) Profit/(Loss) for the period (11+12)	(156, 48) (931.62)	109.73	(676.07)	(156.48) (1,602.57)	(2, 159.04)
14	Other comprehensive income, net of income tax
	a) (i) items that will not be reclassified to profit or loss - Remeasurement of goodwill on business combination	(798.70)			(798.70)
	- Remeasurement of property, plant and equipment (ii) income tax relating to items that will not be reclassified to	1,472.00			1,472.00
	profit or loss
	b) (i) items that will be reclassified to profit or loss (ii) income tax relating to items that will be reclassified to
	profit or loss
	Total other comprehensive income, net of income tax
		673.30	ä.	g,	673.30
15	Total comprehensive income for the period (13+14)	(258.32)	109.73	(676.07)	(929.27)	(2, 159.04)
16	Paid-up equity share capital Face value per share (Rs)	550.00	550,00	550.00	550.00	550.00
17	Earning per share (Rs) (not annualised)	1.00	1.00	1.00	1.00	1.00
	- Baslc - Diluted	(1.69)	0.20	(1.23)	(2.91)	(3.93)
		(1.69)	0.20	(1.23)	(2.91)	(3.93)
Notes: 1.	The above financial results for the quarter and year ended March 31, 2019 as reviewed and recommended by the Audit committee of the Board, has been approved by the Board of Directors at its
	meeting held on May 30, 2019
2	The statement has been prepared in accordance with the companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the companies Act, 2019 and other vecognised accounting practices and policies to the extent applicable.
3.	The format for unaudited quarterly results as prescribed in SEBI's Circular CIR/CFD/CMD/15/2015 dated November 30, 2015 has been modified to comply with the requirements of SEBI's circular-
	dated July 5 2016, Ind AS and Schedula III (Part II) to the Companies Act, 2013, which are applicable to companies that are required to comply with Ind AS.
4	The figures for the quarter ended March 31, 2019 and March 31, 2018 are the balancing figures between audited figures in respect of the full financial year and unaudited published figures in respect. of the financial results upto the third quarter of the respective financial years.
5	The Company's main business segment is "Textile" while the other segment does not meet the reportable segment thresholds given in Ind AS 108 "Operating Segments" and hence included under
	"Others" This reporting complies with the Ind AS segment reporting principles.
					◎ ○ 3 万

$\mathbf{x}^{\star}$

Particulars		Three months ended		Twelve months ended
	March 31, 2019	December 31, 2018	March 31, 2018	March 31, 2019	March 31, 2018
	(audited)	(unaudited)	(audited)	(audited)	(audited)
Segment Revenue
a) Textiles b) Others	5,122.69	5,173.08 2.57	5,844.42 10.19	20, B12.23	26,045.02 42,90
Revenue from operations (Net)	5,122,69 $\tau_{\rm f}$	5,175.65 ż,	5,854.61	20,812.23	26,087.92
Segment Results
Profit (+) / Loss (-) before tax and finance cost
a) Textiles	(444.76)	411.18	(351.85)	(180.46)	(773.71)
b) Others	(444.76)	(5.88) 405.30	2.28 (349.57) ÷	(180.46)	(3.60) (777.31)
Total Add/ Less: Finance Cost	330,36	205.57	326.50	1,265.63	1,381.73
Profit /(Loss) from continuing operations	(775.14)	109.73	(676.07)	(1,446.09)	(2, 159.04)
Profit/(Loss) from discontinued operations	(156.48)			(156.48)
Profit Before Tax	(931.62)	109.73	(676.07)	(1,602.57)	(2,159.04)
Segment Assets a) Textiles	30,084,05	31,666.35	28,824.18	30,084.95	28,824.18
b) Others		374.42	454.36		454,36
b) Other unallocable corporate assets
Total assets	30,084.95	32,040.77	29,278.54	30,084.95	29,278.54
Segment Liabilities			15,776.00	17,529.35	15,776.00
a) Textile operations b) Others	17,529.35	18,232.08 14.66	17.67		17.67
b) Other unallocable corporate liabilities
Total liabilities	17,529.35	18,246.74	15,793.67	17,529.35	15,793.67
Capital Employed (Segment assets Segment Ilabilities)					13,048.10
a) Textiles b) Others	12,555,60	13,434.27 359,76	13,048.18 436.69	12,555.60	436.69
Total capital employed in segments	12,555.60	13794.03	13,484.87	12,555.60	13,484.87
Unallocable corporate assets less corporate liabilities
Total Capital Employed	12,555.60	13,794.03	13,484.87	12,555.60	13,484.87
Statement of Standalone assets and liabilities				(Rs. In lakhs)
Particulars			As at	As at
			March 31, 2019	March 31, 2018
Assets			(audited)	(audited)
Non-current assets			17,069.78	20,582.79
Property, plant and equipment Capital work in progress			12,66
Intangible assets				798.92
Investment property			52.43	93.56
Financial Assets Investments			1,327.05	1,327.05
Other financial assets			349.72	600.70
Other non-current assets			211.85	15.32
Current assets			19,023.50	23,418.34
Inventories			2,485.43	1,782.41
Financial Assets
Trade receivables			1,073.24	1,195.04
Cash and cash equivalents Other current financial assets			14.97 2,862.80	158.22 2,497.87
Non-Current Assets Held for Sale			4,480.59
Other current assets			144.41	226.66
			11,061.45	5,860.20 29,278.54
Total* Assets			30,084.95
Equity and Liabilities
Equity share capital Other Equity			550.00	550.00
(Refer Note no. 8 below for Prior period adjustment under Ind AS.8)			12,005.60	12,034.87
			12,555.60	13,484,87
Financial Liabilities
Borrowings*			179.75	855.76
Provisions ®			655.31	539.49
Deferred tax liabilities (net)
Other non current liabilities			170.98
			1,006.05	1,395.25
Financial Liabilities
Borrowings			4,232.56	5,650.63
Equity Non current liabilities Current liabilities Trade payables			6,650.87	6,286.62
Other current liabilities			5,482.47	2,324.45
Provisions:	$H_{\partial\mathcal{A}}$		157.40 16,523.31	136.72 14,398.42

(F (BANGALORE)

During the year, the company has permanently suspended the operations of Super SARA unit at Hindupur, Andhrapradesh and UPVC Windows & Profiles unit at Coimbatore, Tamilnadu and accordinigy has reported the losses ansed out of these units aggregating to Rs.156.48 lakhs in its Statement of Profit and Loss under Profit/loss from Discontinued Operations above as required under ind AS 105 (Non current Assets held for sale and discontinued operations) of Companies (Indian Accounting Standards) Rules, 2015 specified as per the provisions of the Companies Act, 2013 as amended from time to time. In addition to above, the Company has done the Impairment testing of all its assets pertaining to Discontinued Operations and wherever it deems fit has impaired such assets that are no
Ionger cash generaling in nature whic

Opening balance of Retained earnings as at April 1, 2017 grouped under "Other Equitys forming part of the Balance sheet above, has been adjusted to the extent of Prior period liem
(expenses/losses) amounting to Rs. 980.13 decision.

Hence, the same is given affect as per the disclosure requirement as enumerated in Ind AS - 8 as notified under Companies (Indian Accounting Standards) Rules, 2015 of the Companies Act, 2013 as amended.

Other Income includes the following:	Three Months	ended Twelve Months ended
Particulars	March 31, 2019 (audited)	March 31, 2019 (audited)
i) Interest Income!	ి 0.31	33.08
ii) Rental Income	57.60	70.68
iii) Profit on sale of assets (Net)	149.97	753.97
Iv) Agricultural Income	35.86	24.59
v) Miscellaneous Income " 27 CONTINUE	9.71	21.78
Total	253.45	904.09
	the company of the conditions with a file that

10 To facilitate comparison, figures of the previous year have been rearranged/regrouped/recast wherever necessary.

Place: Coimbatore Date: May 30, 2019

71

$\mathbf{B}$

$\bar{\lambda}$ ed $H_{\mathcal{C}\alpha}$ ^Gred Acco^v

Super Spinning Mills Limit Sumanth Ramamurthi

Executive Chairman DIN:00002773

-497

Super-(Spinning MillsL'imited

Regd. & Central Office : "Elgi Towers" RB: 7113, Green Fields, 737- D, Puliakulam Road, Coimbatore - 641,045. ClN : L17111TZ1962PLCOO1200 - :

May 30'", 2019

To

Listing Department	Listing Department
" ' BSE Ltd ' Towers Phiroze Jeejeebhoy Dalal Street Mumbai - 400 001	National Stock Exchange of India Limited "Exchange Plaza", C-1, Block G Kurla Complex, Bandra (E) Bandra — ' 400 051 Mumbai —
521180 Scrip Code: —	Scrip Code: — SUPERSPIN

Dear Sir, ,

Sub: Declaration pursuant to Regulation 33(3)(d) of SEBI (listing Obligations and Disclosure Requirements) Regulations, ²⁰¹⁵ - Reg.

I, Sathyanarayana Reddy B, Chief Financial Officer of the Company, hereby declare that, the Statutory Auditors of the Company, M/s. Sethia Prabhad Hedge & Co., Chartered Accountants, (Registration No. 0133675) have issued anvAudit Report with unmodified opinion on'the Annual Audited Financial Results of the Company for year ended 31St March, 2019. ' ^v

The declaration is given pursuant to Regulation 33(3) (d) of the SEBl' (Listing Obligation and Disclosure Requirements) Regulations, ²⁰¹⁵ as amended by the SEBI (Listing Obligation and Disclosure Requirements) (Amendment) Regulations, ²⁰¹⁶ Vi'de Circular no.ClR/CFD/CMD/56/2016 dated May 27, 2016.

This is for your information and records.

For Super Spinning Mills Ltd

sathyanarayana Reddy ^B Chief Financial Officer

It:

Sana. Fhabhad Hagaea Co. 'Cbartered Accountants

Auditor's Report on Quarterly and Year to Date Financial Results of Super Spinning Mills Limited pursuant to Regulation ³³ of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'

To

The Board of Directors of Super Spinning Mills Limited

We have audited the accompanying statement of financial results of Super Spinning Mills ' Limited ('the Company') for the year ended 31St March 2019, attached herewith, being submitted by the Company pursuant to the requirement of Regulation ³³ of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) (Regulations, 2015. as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. Attention is drawn to the fact that the figures for the quarter ended .31St March ²⁰¹⁹ and the corresponding quarter ended in the previous year as reported in these financial results are the balancing figures " between audited. figures in respect of the full financial year and the published year to date figures up to the end of the third quarter bf the relevant financial year. Also, the figures up to the end of the third quarter had only been reviewed and not subjected to audit.

These financial results have been prepared on the basis of the .audited annual financialstatements, which are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial results based on our auditofsuch annual financial statements, which haVe been prepared in accordance with the recognition and measurement principles laid down in. Indian Accounting Standards (Ind AS), prescribed under Section ¹³³ of the Companies Act, 2013 as amended read with relevant rules issued under Companies (Accounts) Rules, 2014 as amendedand other accounting principles generally accepted in India. .

We conducted our audit in accordance with the standards on Auditing issued by the Institute Of Chartered Accountants of India. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the-financial results are free of material misstatements. An audit includes examining, on ^a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides ^a reasonable basis for our opinion.

Setlfia Frablnacl Hegde & Co.) Chartered Accountants

Auditor's Report on Quarterly and Year to Date Financial Results of Super Spinning Mills Limited pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (continued)

In our opinion and to the best of our information and according to the explanations given to us, these quarter and year ended financial results:

(i) are presented in accordance with the requirements of Regulation ³³ of SEBI (Listing Obligations and Disclosure Requirements) Regulation'2015 in this regard; and

(ii) gives ^a true and fair view of the Net Loss and other financial information for the quarter and year ended 31St March 2019.

For M/s Sethia, Prabhad Hegde & Co , d Accountants NO. 0133675

\59\1 - 511;. 1:11:11:

Partner Membership No. 226267

Coimbatore May 30, 2019 ⁴

"3 Super Spinning Mills Limited

Regd. &Central0ffice: "ElgiTowers" RB 7113, Green Fields, 737—D, Puliakulam Road, Coimbatore- ⁶⁴¹ 045. CIN: L17111TZ1962PLC001200

W

BREIF PROFILE OF MR.SUMANTH RAMAMURTHI

The brief profile of Mr. Sumanth Ramamurthi, the Chairman and Managing Director of the Companyis as follows:

Name	Mr. Sumanth Ramamurthi
DIN	.0000'2773
Age & Date of Birth	59 Years
Occupation V	Business
Qualification v	Electrical Engineering B.Sc —
' Expertise - _	More than three decades of experience in the fields of textile and engineering He is industry. one of the promoters to and'maincontributory the growth ofthe and development Company.
Disclosure of ' relationship between directors	Mr. Sumanth Ramamurthi is not related to any other director on the Board of Directors of the Company.

ANNEXURE 3

- BBEIF PROFILE OF MR.A.R.BALASUNDARAM

The brief profile of Mr.A ^R Balasundharam, who has been appointed as the Director of the Company we.f015tJune 2019 '

Name '	Mr. A R Balasundharam
DIN ,	07802383
Age & Date of Birth	55 Years
Occupation	Business
Qualification V	B.Tech - Textiles
V Expertise ,	More of than three decades as experience a textile professional
Disclosure of relationship between directors V >	Mr. A R Balasundharam is not related to any other director on the Board of Directors of the Compahy.'

"3Super Spinning Mills Limited

SUPER

Regd. &Central Office: "EIgiTowers" PB 7113, Green Fields 737- D, Puliakulam Road, Coimbatore- ⁶⁴¹ 045 CIN: L17111T21962PLCOO1200

ANNEXURE 4

BREIF PROFILE OF MR.C.G.KUMAR

The brief profile of Mr.C ^G Kumar, who has been appointed as the Director of the Company w.e.f 01St June 2019 is as follows

Name	Mr. C G Kumar
4 DIN	02823567
Age & Date of Birth	47Years
Occupation	Advocate
Qualification ,	Bachelor of Law
Expertise ,	More of than one decade an experience as Advocate.
Disclosure of relationship between directors	Mr. C G Kumar is not related to any other; director on thelBoard of Directors of the Company.

BREIF PROFILE OF MR.SUDARSAN VARADARAJ

The brief profile of Mr.Sudarsan Varadaraj, who has been appointed as the independent Director of the Company w.e.f01St June 2019 is as follows

' Namé	Mr. Sudarsan Varadaraj
' ' DIN	' 00133533
Age & Date of Birth	61 Years
Occupation	Business
' Qualification *	B.E (Hons), MS (ME)
Expertise '	I More than three decades of in the experience fields of Automobile and Rubber Industries.
Disclosure of relationship between directors '	Mr. S'Udarsan Varadaraj is not related to any other director on the' Board of Directors of the Company.

"3 Super Spinning Mills Limited

Regd. & Central Office : "Elgi Towers" RB. 7113, Green Fields, 737- D, Puliakulam ROad, Coimbatore - 641 045. CIN : L17111T21962PLCOO1200

BREIF PROFILE OF MRSrSUGUNA RAVICHANDRAN

The brief profile of Mr.Suguna Ravichandran, who has been appointed as the Director of the Company w.e.f01StJune 201915 as follows ' '

Name	Mrs. Suguna Ravichandran
' DIN	00170190
Age & Date of Birth	61 Years
' Occupation	Auditor
' Qualification	FCA
Expertise '	More than two of decades experience as a Practicing Chartered Accountant. , \
Disclosure of relationship between directors	Mrs. Suguna Ravichandran is not related to any other director Directors ofthe on the Board of Company.

.57