Talbros Automotive Components Ltd. — Annual Report 2021

Jun 8, 2021

talb
	Talbros Automotive
Componentswww.talbros.com	Ltd.
8'" June, 2021
BSE Ltd.	The National Stock Exchange of India Ltd.
Phiroze Jeejeebhoy Towers,	Exchange Plaza, 5" Ploor, Plot No. C/1,
Dalal Street, Fort	G Block, Bandra Kurla Complex,
Mumbai — 400 001	Bandra (East), Mumbai — 400 051
Scrip Code - 505160	TALBROAUTOCompany Code-

Sub: Outcome of Board Meeting and Audited Financial Results for the financial year ended 31° March, 2021

Dear Sir/ Madam,

Pursuant to the provisions Regulation 33 read with Regulation 30 and Part A of Schedule III to the Securities and Exchange Board of India (Listing Obligation & Disclosure Requirements) Regulations, 2015 we wish to inform you that the Board of Directors at its meeting held today i.e. on 8"" June, 2021 has approved:

1. The Audited financial results for the quarter and financial year ended 31° March, 2021.

Please find enclosed:

• The Audited Financial Results (standalone and consolidated) for the quarter and financial year ended 31° March, 2021.
• Audit Report of M/s J C Bhalla & Co., Chartered Accountants, the Statutory Auditors of the Company as considered and taken on record.
• Declaration in compliance with Regulation 33(3) (d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/56/2016 dated 27" May, 2016 regarding Auditor's Report with unmodified opinion, duly signed by the Chief Financial Officer. www.nseindia.com and www.bseindia.com and on Company's website www.talbros.com.

The full format of the financial results for the quarter/ year ended 31° March, 2021 shall be available on the website of the Stock exchanges where equity shares of the Company are listed i.e.

1. The 64" Annual General Meeting of the Company will be held on Monday, 27" September, 2021.

3. Recommendation of Dividend

Pursuant to Regulation 30 and 43 of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting held today have recommended payment of dividend @ 20% on equity shares of Rs. 10/- each i.e. Rs. 2.00 per equity share aggregating to Rs. 2,46,91,260/- for the financial year ended 31° March, 2021 on the entire share capital of 12345630 shares.

The dividend, if approved by the shareholders will be paid on or before 27" October, 2021.

The meeting of the Board of Directors commenced at 4.00 p-m. and concluded at 5.15 p.m.

This is for your kind information and necessary records.

Thanking you,

Yours Sincerely For Talbros Automotive Components Limited

Seema Narang Company Secretary

Encl: As above

J.C. BHALLA & CO. CHARTERED ACCOUNTANTS

BRANCH OFFICE : B-5, SECTOR-5, NOIDA - 201 301 (U.P.) TEL. : +91 - 120 - 4241000, FAX : +91-120-424 1007 E-MAIL : taxaid@jcbhalla.com

Independent Auditor's Report on Audited Standalone Quarterly and year to date Financial Results of Talbros Automotive Components Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (As amended)

INDEPENDENT AUDITORS' REPORT

To the Board of Directors of Talbros Automotive Components Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying Standalone Financial Results of Talbros Automotive Components Limited ('the Company') for the quarter and year ended March 31, 2021 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations').

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

• (i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations, and
• (ii) gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued thereunder, and other accounting principles generally accepted in India, of the standalone net profit after tax and other comprehensive income and other financial information of the Company forthe 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 Act. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results 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 ('the ICAI') together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Actand 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 obtained by us is sufficient and appropriate to provide a basis for our opinion.

Managements' Responsibilities for the Standalone Financial Results

This Stakement has been prepared on the basis of the standalone annual audited financial statements and has been approved by the Company's Board of Directors. The Company's Board of Directors is responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income and _ other financial information of the Company in accordance with the Indian 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 financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors 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 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 financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement 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 isa 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 Statement.

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

• e Identify and assess the risks of material misstatement of the Statement, 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.
• e 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 in place adequate internal financial controls with reference to financial statements and the operating effectiveness of such controls.
• e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• e Conclude on the appropriateness of the Board of Director'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 asa 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 Statement 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.
• e 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 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.

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

For J. C. Bhalla & Co. Chartered Accountants Firm Regn No. 0011

(Akhil Bhalla) Partner Membership No. 505002 UDIN: 21505 002ARAAKM 1833

Place: New Delhi Date : June 8, 2021

TALBROS AUTOMOTIVE COMPONENTS LIMITED CIN :L29199HR1956PLC033107 REGD. OFFICE : 14/1, DELHI] MATHURA ROAD, FARIDABAD-121 003 (HARYANA) Tal No.: 0129-2251482

Website: www.talbros.com, Emait seema_narang@talbros,com

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

	TALBROS AUTOMOTIVE COMPONENTS LIMITEDCIN :L29199HR1956PLC033107REGD. OFFICE : 14/1, DELHI] MATHURA ROAD,
	FARIDABAD-121 003 (HARYANA)Tal No.: 0129-2251482
	Website: www.talbros.com, Emait seema_narang@talbros,com
	STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
				Standalone		(Rs. in lacs)
Ss.No.	Particulars		Quarter ended		Year ended31-Mar-21 34-Dec-20 34-Mar-20 34-Mar-21 34-Mar-20
1	Income	Audited	Unaudited	Audited	Audited	Audited
	a) Revenue from operationsb) Other income	15,763.28275,76	12,951.61254.29	9,163.91201,34	44,419.72895.42	38,529.41811.04
2	Total income Expenses	16,039.04	13,205.90	9,365,25	45,315.14	39,340.45
	a) Cost of materials consumedb) Purchase of stock-in-trade	TE69,03	7,011.6275.69	4,753.37	22,361.39	20,762.44
				23.03	241.34	175.24
	c) Changes in inventories of finished goods, working in progress and stock-in-traded) Employee benefits expense	398,041,676.64	(82.23)1,504.71	(8.26)1,337.40	1,222.055,387.15	(456.62)5,602.18
	e) Finance costsf) Depreciation and amortisation expense	305.02649,24	333.13596.53	372.86508.40	1,348.662,298.28	1,610.231,917.05
	g) Other expensesTotal expenses	3,658.1414,527.88	2,583.3112,022.76	2,258.479,243.27	9,639.8442,498.71	8,711.9838,322.50
3	Profit before exceptional items and tax (1-2)	1,511.16	1,183.14	121.98	2,816.43	1,017,95
45	Exceptional items - Gain/(Loss) Profit/(Loss) before tax (3-4)	1,811.943,323.10	-1,183.14	(213.80)(91.82)	1,811.944,628.37	(213.80)804,15
6	Tax expensea) Current tax	862.61	449.55	(110.25)	1,380.81	133.75
	b) Deferred taxc) Earlier years tax adjustment (net)	(17.18)-	(14.10)(36.94)	33.98-	(76.30)(36.94)	16.70(18.19)
7	Total (a+b+c) Net profit/(Loss) for the period/year (5-6) (pl. refer note 3)	845.432,477.67	398,51784,63	(76.27)(15,55)	1,267.573,360,80	132.26671.89
	8 Other comprehensive income/(Loss)a) Items that will not be reclassified to profit and loss	601.09	281,93	(596,69)	1,435.09	(1,349.61)
	b) Income tax relating to items that will not be reclassified to profit and lossTotal other comprehensive income/(Loss)	(138.97)462.12	(65,68)216.25	140.67(456.02)	(333,26)41,101.83	316.07(1,033.54)
9g10	Total comprehensive income/(Loss) for the period (7+8) Paid up equity share capital (face value of Rs. 10 per share)	2,939.791,234.56	1,000.881,234.56	(471,87)1,234.56	4,462,631,234.56	(361.65)1,234.56
11	Earnings per equity share (face value of Rs. 10 per share) (not annualised)Basic (Rs.)	20.07	6.36	(0.13)	27.22	5.44
	Diluted (Rs.)	20.07	6.36	(0.13)	27,22	5.44
Note:
1	The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors in its meeting held on June 8, 2024
2	and Audited by the Statutory Auditors of the Company.These standalone financial results are prepared in accordance with the recognition and measurement principles of Indian Accounting Standards as prescribed
3	under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 as amended.During the quarter ended March 31, 2021, the Company has sold its Property, plant and equipment situated at Chennai, Tamilnadu and has written off
	receivables, inventory and other assets related to the Chennai plant. The net gain from the transaction has been disclosed as exceptional items in the results.The capital gain tax on sale of property, plant and equipment has been disclosed as part of the tax expense in the results. Following table provides bifurcation
	between exceptional items & capital gain tax on sale of property, plant & equipment and profit from operations & related tax expense.					(Rs. in lacs)
5.	No, Pantculars		Quarter ended	Standalone	Year ended34-Mar-21 31-Dec-20 31-Mar-20 31-Mar-21 31-Mar-20

						(Rs. in lacs)
				Standalone
5.			Quarter ended		Year ended
	No, Pantculars				34-Mar-21 31-Dec-20 31-Mar-20 31-Mar-21 31-Mar-20
		Audited	Unaudited	Audited	Audited	Audited
AL	Operational Profit
	4 Profit Before Exceptional Item	1,511.16	1,183.14	121.98	2,816.43	1,017.95
	2)Tax Expenses	(502.75)	(398.51)	76.27	(924.89)	(132.26)
	Profit After Tax	1,008,441	784,63	198.25	1,891.54	885.69
B.	Monetization of Chennai PropeExceptional
	1 Exceptional items	1,811.94	-	(213.80)	1,811.94	(213.80)
	2 Capital Gain Tax	(342.68)			(342.68)	-
	PAT (Exceptional Items)	1,469.26	:	(213.80)	1,469.26	(213,80)

4 The Company's operations and financial results for the year ended March 31, 2021 were initially impacted by the outbreak of COVID-19 pandemic and the consequent series of lockdowns announced by the Government of India due to which the operations were suspended for part of first quarter and gradually resumed with requisite precautions and then continued normally. The results for the year ended March 31, 2021 are therefore not comparable with those for the previous period. The Company has considered the possible effects that may results from this pandemic on the carrying amounts of property, plant and equipment, investment, inventories, receivables and other current assets. The Company expects the carrying amount of these assets will be recovered and no material adjustment required in the financial statement. The Company will continue to closely monitor any material changes to future economic conditions,

5 _ Inline with the provisions of Ind AS 108 - Operating Segments and on the basis the review of operations being dane by the senior management, the operations of the Company fall under Auto Components & Parts business, which is considered to be the only reportable segment by the management.

Statement of Assets & Liabilities - StandaloneParticulars	AS at31-Mar-21	(Rs. in lacs)Asiat31-Mar-20
ASSETS:Non-current assetsProperty, plant and equipment	14,538.48	14,922.97
Capital work in pragressInvestment propertyIntangible assets	303.96313.95123.52	60.21292.18131.17
Intangible assets under developmentFinancial assetsInvestments	-4,754.00	18.503,282.00
LoansOther financial assetsCurrent tax assets (Net)	147.1912.28-	151.4433.37239.41
Other non-current assetsTotal non-current assets	246.8220,440.20	362.6519,493.90
Current assetsInventoriesFinancial assets	10,214.53	10,794.64
Trade receivables	15,496.68274.98	12,517.62370,94
Cash and cash equivalentsOther bank balances	907.41	391.07
LoansOther financial assetsOther current assets	465.24276.842,249.90	567.87143.301,704.16
Total current assetsTotal assets	29,885.58$0,325.78	26,489.6045,983.50
EQUITY AND LIABILITIES:Equity
Equity share capitalOther equityTotal equity	1,234.5620,956.4322,190.99	1,234.5616,555.5117,790.07
Non-current liabilitiesFinancial liabilitiesBorrowings	1,410.79	2,010.71
Other financial liabilitiesProvisions	23,18225.35	31.79312.22
Deferred tax liabilities (net)Other non-current liabilitiesTotal non-current liabilities	550.0366.662,276.03	290.8666.442,712.02
Current liabilitiesFinancial liabilitiesBorrowings	7,061.57	12,111.46
Trade payables(a) Total outstanding dues of micro enterprises and small enterprises(b) Total outstanding dues of creditors other than micro enterprises and small enterprises	162.4014,777.06	97,6110,462.41
Other financial liabilitiesOther current liabilitiesProvisions	2,737.14395.2789.13.	2,040.42683.0186,50
Current tax liabilities (net)Total current liabilitiesTotal equity and liabilities	636,1925,858.7660,325.78	-25,481.4145,983.50

a

Cash Flow Statement - StandaloneParticulars	Yearended Year ended	(Rs. in lacs)
A. CASH FLOW FROM OPERATING ACTIVITIES	31-Mar-21	31-Mar-20
Profit before tax	4,628.37	804,15
Adjustments for:Depreciation on property, plant and equipment, investment property and intangible assets	2,298.28	1,917.05
Profit on sale of property, plant and equipment (net)Interest income	(2,217.94)	(52.80)
Dividend income	(89.76)-	(111.14)(250.68)
Allowance for doubtful debts (net)Unrealised foreign exchange gain	256,06(42.63)	103.02(64.57)
Advances written offProvisions no longer required written back	21,44-	79,46(79.46)
Finance costsOperating profit before working capital changes	1,348.666,202.48	1,610.233,955.27
Movement in working capital
Change in inventoriesChange in Trade receivables, other financial and non-financial assets	580.11(3,838.55)	257,651,196.83
Change in Trade payable, other financial and non-financial liabilitiesCash generated from/ (used in) operating activities post working capital changes	4,146.657,090,69	(1,416.69)3,993.06
Income tax paid (net)	(471,60)	(292.45)
Net cash generated from/{used in) operating activities (A)B, CASH FLOWS FROM INVESTING ACTIVITIES	6,619.09	3,700.61
Purchase of property, plant and equipment, intangible assets (including capital work-in-progress and intangibles under develop!	(2,355.65)	(2,288.43)
Proceeds from sale of property, plant and equipmentProceeds from sale of investments	2,571.98as	177 86w
Movement in other bank balances	(479.72)	270,62250.68
Dividend received	-
Interest receivedNet cash generated from/(used in) investing activities (B)	74.14(189,25)	134.27(1,455,00)
C. CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	(2,911.99)	1,815.85
Repayment of borrowingsPayment towards lease liabilities	(2,160.12)(18,37)	(1,985.21)(11,42)
Dividend paid net (including tax)Interest paid	(63.03)(1,372.29)}	(267.58)(1,658.15)
Net cash generated from/(used in) financing activities (C)	(6,525.80)}	(2,106.51)
(Decrease)/ increase in cash and cash equivalents (A+B+C)Cash and cash equivalents at the beginning of the yearcashequivalentsend(Cashandyear	(95,96)370,94274,98	139,10231,84370.94

8 The date figures and unaudited for the quarter published ended March year to date 31, figures 2021 and upto 2020 the third are the quarter balancing of financial figures year between 2020-21 the and audited 2019-20 figures respectively. in respect of the twelve months ended on that

For Talbros Automotive Components Limited

eo nuj a Joint Managing Director DIN :; 00628063

Date : June 08, 2021 Place: Moscow

J.C. BHALLA & CO. CHARTERED ACCOUNTANTS

BRANCH OFFICE : B-5, SECTOR-6, NOIDA - 201 301 (U.P.) TEL. : +91 - 120 - 4241000, FAX : +91-120-4241007 E-MAIL : taxaid@jcbhalla.com

Independent Auditor's Report on Audited Consolidated Quarterly and year to date Financial Results of Talbros Automotive Components Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (As amended)

INDEPENDENT AUDITORS' REPORT

To the Board of Directors of Talbros Automotive Components Limited

Report on the Audit of Consolidated Financial Results

Opinion

We have audited the accompanying Consolidated Financial Results of Talbros Automotive Components Limited (hereinafter referred to as 'the Company") and its jointly controlled entities 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) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements of the jointly controlled entities, the aforesaid Statement:

i, include the annual financial results of the following entities:

Joint Ventures:

• (i) Nippon Leakless Talbros Private Limited
• (ii) Magneti Marelli Talbros Chassis Systems Private Limited
• (iii) Talbros Marugo Rubber Private Limited
• ii, are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• iii. gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued thereunder, and other accounting principles generally accepted in India, of the consolidated net profit after tax and other comprehensive income and other financial information of the Company and its jointly controlled entities 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 ("Act"). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of

Company and its jointly controlled entities in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ('the ICAI') together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act 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 obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Managements' Responsibilities for the Consolidated Financial Results

This Statement has been prepared on the basis of the consolidated annual financial statements and has been approved by the Company's Board of Directors. The Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Company and its , jointly controlled entities in accordance with the Indian 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 Company and its jointly controlled entities are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and its jointly controlled 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 the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the respective Board of Directors of the Company and its jointly controlled entities are responsible for assessing the ability of the Company and its jointly controlled entities 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 and its jointly controlled entities or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the Company and its jointly controlled entities are responsible for overseeing the financial reporting process of the Company and its jointly controlled entities.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are free from material misstatement, whether due to fraud or error, and to issue a _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 Statement.

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 Statement, 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) (1) of the Act, we are also responsible for expressing our opinion on whether the Company and its jointly controlled entities which is company incorporated in India has adequate internal financial controls with reference to financial statements 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 the Board of Directors.

• » Conclude on the appropriateness of the Board of Directors 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 Company and its jointly controlled entities 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 Statement 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 and its jointly controlled entities 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 represent the underlying transactions and events in a manner that achieves fair presentation.

• » Obtain sufficient appropriate audit evidence regarding the annual standalone financial results/financial information of the Company and its jointly controlled entities to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by 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 Company and such other entities included in the Statement of which we are the independent auditors 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.

We also performed procedures in accordance with the circular issued by the SEB] under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matters

The statement also includes Group's share of net profit/(net loss), including other comprehensive income, of Rs. 275.96 lakhs and Rs. 559.76 lakhs for the quarter and year ended March 31, 2021 respectively in respect of three jointly controlled entities. These financial statements have been audited by their respective independent auditors. The independent auditors' reports on financial statements of these entities have been furnished to us and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above.

Our opinion 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 include the financial results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

For J. C. Bhalla & Co. Chartered Accountants Firm Regn No. 001111N

(Akhil Bhalla) Partner Membership No. 505002 __ UDIN : 21505002AAAA KM5SE4S

Place : New Delhi Date : June 8, 2021

TALBROS AUTOMOTIVE COMPONENTS LIMITED CIN :L29199HR1956PLC033107 REGD. OFFICE : 14/1, DELHI MATHURA ROAD, FARIDABAD-121 003 (HARYANA) Tel No.: 0129-2251482

STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 34, 2021

	TALBROS AUTOMOTIVE COMPONENTS LIMITED
	CIN :L29199HR1956PLC033107REGD. OFFICE : 14/1, DELHI MATHURA ROAD,FARIDABAD-121 003 (HARYANA)Tel No.: 0129-2251482
	Website: www.talbros.com, Email: seema_narang@talbros.comSTATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 34, 2021
				Consolidated		(Rs. in lacs)
s.No.	Particulars	31-Mar-21_	Quarter ended31-Dec-20	31-Mar-20	Year ended31-Mar-21	31-Mar-20
1	Incomea) Revenue from operations	Audited15,763.28	Unaudited12,951.61	Audited9,163.91	Audited44,419.72	Audited38,529.41
	b) Other incomeTotal income	275,7616,039,04	254.2913,205.90	81.349,245.25	895.4245,315.14	571.0439,100.45
2	Expensesa) Cost of materials consumedb) Purchase of stock-in-trade	TATA IT69.03	7,011.6275.69	4,753.3723,03	22,361.39241.34	20,762.44175.24
	c) Changes in inventories of finished goods, working in progress and stock-in-traded) Employee benefits expensee) Finance costs	398,041,676.64305.02	(82.23)1,504.71333.13	(8.26)1,337.40372.86	1,222.055,387.151,348.66	(456.62)5,602.181,610.23
	if) Depreciation and amortisation expenseQ) Other expensesTotal expenses	649.243,658.1414,527.88	596.532,583.3112,022.76	508.402,256.479,243.27	2,298.289,639.8442,498.71	1,917.058,711.9838,322.50
3.4	Profit before exceptional Items, share in profit of joint ventures (net) and tax (1-2) Exceptional items - Gain/(Loss)	1,511.161,811.94	1,183.14-	1.98(213,80)	2,816.431,811.94	777.95(213.80)
56	Profit/(Loss) before share in profit of joint ventures (net) and tax (3-4)[Share in profit of joint ventures (net)	3,323.10265.72	1,183.14270.61	(211.82)163.03	4,628.37552.27	564.15788.07
78	Profit(Loss) before tax (516) Tax expensea) Current tax	3,688.82862.64	1,453.75449,55	(48,80)(110.28)	5,180.641,380,81	1,352.22133,75
	b) Deferred taxc) Earlier years tax adjustment (net)Total (a+b+c)	(17.18)-846.43	(14.10)(36.94)398.51	33.98-(76.27)	(76,30)(36.94)41,267.57	16.70(18.19)132.26
910	Net profit for the period/year (7-8) (pl. refer note 3) Other comprehensive income/(Loss)	2,743.39	1,055.24	27.47	3,913.07	1,219.96
	a) Items that will not be reclassified to profit and lossb) Income tax relating to items that will not be reclassified to profit and lossTotal other comprehensive income/(Loss)	611.33(138.97)472.36	281,00(65.68)218.32	(697.77)140.67(457.10)	1,442.58(333.26)1,109.32	(1,353.30)316,07(1,037.23)
11	Total comprehensive income/(Loss) for the period/year (9+10)Net profit attributable to:	3,215.75	1,270.56	(429.63)	5,022.39	182.73
	Owners of the CompanyNon-controlling interests	2,743.39-	1,055.24-	27.47-	3,913.07-	1,219.96-
	Other comprehensive income/(Loss) attributable to:Owners of CompanyNon-controlling interests	472.36-	215.32=	(457.10)	1,109.32=	(1,037.23)-
1213	Paid up equity share capital (face value of Rs. 10 per share) Earnings per equity share (face value of Rs, 10 per share) (not annualised)	1,234.56	1,234,56	1,234.56	1,234.56	1,234.56
	Basic (Rs.)Diluted (Rs.)	22.2222,22	8556.55	0.220.22	31.7031.70	9.889.88
Note:	The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors in its meeting held on June 8, 2021 and
12	Audited by the Statutory Auditors of the Company.Talbros Automotive Components Limited ('the Company') and its joint ventures are together referred as 'the Group' in the following notes. These consolidated financialresults are prepared in accordance with the recognition and measurement principles of Indian Accounting Standards as notified under the Companies (Indianas specified in Section 133 of the Companies Act, 2013.Accounting Standards) Rules, 2015
3	During the quarter ended March 31, 2021, the Group has sold its Property, plant and equipment situated at Chennai, Tamilnadu and has written off receivables,inventory and other assets related to the Chennai plant. The net gain from the transaction has been disclosed as exceptional items in the results. The capital gain tax onsale of property, plant and equipment has been disclosed as part of the tax expense in the results. Following table provides bifurcation between exceptional items &
	capital gain tax on sale of property, plant & equipment and profit from operations & related	tax expense.		Consolidated		(Rs. in lacs)
s.	Fno, PANTCuare	Audited	Quarter ended31-Mar-21 34-Dec-20 S4-Mar-20_ Unaudited	Audited	Year ended34-Mar-21 31-Mar-20Audited	Audited

						(Rs. in lacs)
			Consolidated
s.	F		Quarter ended		Year ended
	no, PANTCuare		31-Mar-21 34-Dec-20 S4-Mar-20_		34-Mar-21 31-Mar-20
		Audited	Unaudited	Audited	Audited	Audited
A.	Operational Profit
	1 Profit Before Exceptional Item	1,776.88	1,453.75	165,00	3,368.70	1,566.02
	2 Tax Expenses	(602.75)	(398.51)	76,27	(924.89)	(132.26)
	Profit After Tax	1,274.13	1,055,24	241,27	2,443.81	1,433.76
B,	Monetization of Chennai Property (Exceptional)
	1 Exceptional items	1,811.94	-	(213.80)	1,811.94	(213.80)
	2)Capital Gain Tax	(342.68)	-	-	(342.68)	=
	PAT (Exceptional Items)	1,469,26	-	(213,80)	1,469.26	(213.80)

4 The Group's operations and financial results for the year ended March 31, 2021 were initially impacted by the outbreak of COVID-19 pandemic and the consequent series of lockdowns announced by the Government of India due ta which the operations were suspended for part of first quarter and gradually resumed with requisite precautions and then continued normally, The results for the year ended March 31, 2021 are therefore not comparable with those for the previous period. The Group has considered the possible effects that may results from this pandemic on the carrying amounts of property, plant and equipment, investment, inventories, receivables and other current assets. The Group expects the carrying amount of these assets will be recovered and no material adjustment required in the financial statement. The Group will continue to closely monitor any material changes to future economic conditions,

5 Inline with the provisions of Ind AS 108 - Operating Segments and on the basis the review of operations being done by the senior management, th erations,of the Group fall under Auto Components & Parts business, which is considered to be the only reportable segment by the management. rs

it of Assets & Liabilities - CSti		(Rs. in lacs)
paralculersASSETS:	As at34-Mar-21	As at34-Mar-20
Non-current assets
Property, plant and equipmentCapital work in progressInvestment property	14,538.48303,96313.95	14,922.9760.21292.18
Intangible assetsIntangible assets under developmentInvestments accounted for using the equity methodFinancial assets	123.52-5,169.54	131.1718.504,609.78
InvestmentsLoansOther financial assets	2,146.00147.1912.28	674.00151.4433.37
Current tax assets (Net)Other non-current assetsTotal non-current assets	246,8223,001.74	239,41362.6521,495.68
Current assetsInventoriesFinancial assetsTrade receivables	10,214.5315,496.68	10,794.6412,517.62
Cash and cash equivalentsOther bank balancesLoansOther financial assets	274.98907.41465.24276.84	370.94391.07567.87143.30
Other current assetsTotal current assetsTotal assets	2,248.9029,885.5852,887.32	1,704.1626,489,6047,985.28
EQUITY AND LIABILITIES:
EquityEquity share capitalOther equityTotal equity	1,234.5623,517.9724,752.53	1,234.5618,557.2919,791.85
Non-current liabilitiesFinancial liabilitiesBorrowings	1,410.79	2,010.71
Other financial liabilitiesProvisionsDeferred tax liabilities (net)Other non-current liabilities	23,18225.35550.0366.68	31.79312.22290.8666.44
Total non-current liabilitiesCurrent liabilitiesFinancial liabilities	2,276.03	2,712.02
BorrowingsTrade payables(a) Total outstanding dues of micro enterprises and small enterprises	7,061.57162.40	12,111.4697.61
(b) Total outstanding dues of creditors other than micro enterprises and small enterprisesOther financial liabilitiesOther current liabilitiesProvisionsCurrent tax liabilities (net)	14,777.062,737.14395,2789.13636,19	10,462.412,040.42683.0186.50

eo

Cash Flow Statement - Consolidated		(Rs. in lacs)
Particulars	Yearended Year ended34-Mar-21	31-Mar-20
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax	5,180.64	1,352,23
Adjustments for:
Depreciation on property, plant and equipment, investment property and intangible assets	2,298.28	1,917.05
Profit on sale of property, plant and equipment (net)	(2,217.94)	(52.80)
Interest incomeShare of profits of joint ventures (net)	(89.76)(552.27)	(111.14)
Dividend income		(788.08)(10,68)
Allowance for doubtful debts (net)	-256.06	103.02
Unrealised foreign exchange gain	(42.63)	(64.57)
Advances written off	21.44	79.46
Provisions no longer required written back	-	(79.46)
Finance costs	1,348.66	1,610.23.
Operating profit before working capital changes	6,202.48	3,965,27
Movement in working capital
Change in inventories	580.11	257.65
Change in Trade receivables, other financial and non-financial assets	(3,838.55)	1,196.83
Change in Trade payable, other financial and non-financial liabilities	4,146.65	(1,416.69)
Cash generated from/ (used in) operating activities post working capital changes	7,090.69	3,993.06
Income tax paid (net)Net cash generated from/(used in) operating activities (A)	(471.60)	(292.45)
	6,619.09	3,700,641
B. CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment, intangible assets (including capital work-in-progress and intangibles under development)	(2,355.65)	(2,288.43)
Proceeds from sale of property, plant and equipment	2,571.98	177.86
Proceeds from sale of investments	-	-
Movement in other bank balances	(479.72)	270,62
Dividend receivedInterest received	-74.14	250,68134.27
Net cash generated from/(used in) investing activities (B)	(189.25)	(1,455.00)
C. CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	(2,911.99)	1,815.85.
Repayment of borrowings	(2,160.12)	(1,985.21)
Payment towards lease liabilities	(18.37)	(11,42)
Dividend paid net (including tax)	(63.03)	(267.58),
Interest paidNet cash generated from/(Used in) financing activities (C)	(1,372.29)(6,525.80)	(1,658.15)(2,106.51),
(Decrease)/ increase in cash and cash equivalents (A+B+C)Cash and cash equivalents at the beginning of the year	(95.96)	139.10
	370,94	231.84

8 The and unaudited figures for published the quarter year ended to date March figures 31, 2021 upto the and third 2020 quarter are the of balancing financial year figures 2020-21 between and the 2019-20 audited respectively, figures in respect of the twelve months ended on that date

For Talbros Automotive Components Limited

o nuj Nal. Joint Managing Director DIN : 00628063

Date: June 08, 2021 Place: Moscow

Declaration regarding the Annual Auditor's Report with unmodified opinion(s) pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulations 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule VIII thereto and SEBI Circular CIR/CFD/CMD/56/2016 dated May 27, 2016, we hereby declare that the Statutory Auditors of the Company, M/s J.C. Bhalla & Co., Chartered Accountants (Firm Registration No. 001111N), have submitted the Auditor's Report with unmodified opinion on the Standalone and Consolidated financial results for the financial year ended on 31* March, 2021,

For Talbros Automotive Components Limited

(Chief Financial Officer)

Date: 8" June, 2021