Talbros Automotive Components Ltd. — Interim / Quarterly Report 2024

Aug 7, 2024

www.talbros.com 7' August, 2024

Listing Department	Listing Department
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	Exchange Plaza, Plot No. C-1, G Block
Dalal Street	Bandra Kurla Complex, Bandra (East)
Mumbai — 400 001	Mumbai - 400 051
Scrip Code: 505160	Symbol: TALBROAUTO

Sub: Outcome of the Board Meeting held on 7*" August, 2024

Dear Sir/ Ma'am,

Pursuant to Regulation 30 and other applicable Regulation of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you that the Board of Directors in its meeting held today i.e. on 7t August, 2024 has inter-alia, considered and approved the following:

e Financial Results

Un-audited Financial Results (Standalone and Consolidated) for the quarter ended 30t June, 2024 as recommended by the Audit Committee.

A copy of the Unaudited Financial Results for the quarter ended 30™ June, 2024 alongwith the Limited Review Report thereon issued by the Statutory Auditors of the Company are enclosed herewith as Annexure -I.

e Approved the appointment of Mr. Rakesh Vohra as an Additional Director ( Non-Executive, Independent)

On the recommendation of Nomination and Remuneration Committee, approved the appointment of Mr. Rakesh Vohra (DIN: 00836463) as an Additional Director (Non-Executive, Independent) of the Company with effect from 7th August, 2024 to hold office upto the date of next Annual General Meeting of the Company, and thereafter, subject to the approval of the members of the Company.

Details as required under the SEBI Listing Regulations are enclosed as Annexure - II.

e Approved the appointment of Mr. Rajat Verma as an Additional Director ( Non-Executive, Independent)

On the recommendation of Nomination and Remuneration Committee, approved the appointment of Mr. Rajat Verma (DIN: 02548070) as an Additional Director (Non-Executive, Independent) of the Company with effect from 7th August, 2024 to hold office upto the date

of next Annual General Meeting of the Company, and thereafter, subject to the approval of the members of the Company.

Details as required under the SEBI Listing Regulations are enclosed as Annexure - II.

The meeting of the Board of Directors commenced at 12.30 p.m. and concluded at 1:25 p.m.

Trust you will find above in order.

Thanking you,

Yours Sincerely For Talbros Automotive Components Limited

SEEMA NARANG

Digitally signed by SEEMA NARANG DN: c=IN, o=Personal, title=2150, pseudonym=CA1ECDD9771B1C4CF26A7338FCC9F162C6B298C4, 2.5.4.20=fba5dd03c93d9d500b4cc6c24faeaa5f0eb9fdbf9bfd3d42390077e4 29bc4b41, postalCode=110016, st=Delhi, serialNumber=4DE0CCA3E38F617E6F4DC5829DFA37AEBA232E1F95D04B1 3B73C7EA737E61433, cn=SEEMA NARANG

Seema Narang Company Secretary and Compliance Officer

Date: 2024.08.07 13:34:04 +05'30'

Encl: As above

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 Review Report on Standalone Unaudited Quarterly Financial Results and Year-to- Date Results of the Company Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

J. C. BHALLA & CO. CHARTERED ACCOUNTANTS

To the Board of Directors of Talbros Automotive Components Limited

• ¹We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Talbros Automotive Components Limited ("the Company") for the quarter ended June 30, 2024 ("the Statement") being submitted by the Company pursuant to the requirements of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.
• This Statement which is the responsibility of the Company's Management and approved by the 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"), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder 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 of the statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• Attention is drawn to the fact that the figures of the three months ended March 31, 2024 as reported in the Statement are balancing figures between audited figures in respect of the full previous financial year and the published year-to-date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of the previous financial year had only been reviewed and not subjected to audit.
• Based on our review conducted and procedure performed as stated in paragraph 3 above, nothing has come to our attention that cause us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (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.

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

Place: New Delhi Date : August 07, 2024 HEAD OFFICE : B-17, Maharani Bagh, New Delhi - 110065

TALBROS AUTOMOTIVE COMPONENTS LIMITED CIN L29199HR1856PLC033107 REGD. OFFICE : 141, DELHI MATHURA ROAD, FARIDABAD-121 003 (HARYANA) Tel No.: 0129-2251482 Website: www talbros.com, Email: seema_narang@talbros.com

STATEMENT OF STANDALONE UNAUDITED FINANGIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2024

					(Rs. in lacs)
		Standaions
8	e		Quartor onded
No,	Patticulars	30-Jun-24	31:Mar-24_ _30-Jun-23		31-Mar-24
		Unaudited	'Auditod oot oo zy	Unaudited Auditod »
T	[income 2) Revenue from operations b) Other income Total income	2043467 48895 2092362	2026762 47761 2074623	1828262 24365 1853127	7780668 1,377.47 7920415
2	[Exponses 2) Cost of materials consumed ) Purchase of stockin-rade <) Changes in inventories of finished goods, working in progress and stock-in-trade ) Employee benefi's expense ) Finance costs ) Depreciation and amortisation expense ) Other expenses Total oxpanses.	10997.57 [ 9957 5373 2,344.81 33381 787.41 3,969.46 18685.36	1036807 14384 9585 211713 31212 77178 447533 1828212	978039 129.05 15248 201433 32025 59983 366279 666742	4115883 49576 59384 8111.50 1,326.54 2559100 16,001.17 7027913
3	Profit(Loss) before oxcoptional items and tax (1-2)	2,337.26	248311	186415	892602
4	Exceptional items - Gain(Loss) (Refer Note 4)	-	765348	-	765348
5	ProfitiLoss) before tax (3+4)	2337.26 [	1011689	186415	16,678.50
6	Tax oxpense ) Gurrent tax b) Deferred tax ) Earlier years tax adjustment (net) Total (a+bsc)	608.52 (26.22) - 58030	213257 1.05 - 213362	493,04 (28.38) - o8	3718.89 (31.87) (1474) 367228
7 8	Not profit aftor tax (6-6) Other comprohensive incomol(loss) 2) Items that will not be reclassified to profit and loss b) Income tax relating 1o items that will not be reclassified to proft: and loss Total other comprehensive incomel(loss)	1,756.96 2,566.97 (598.00) 1.968.97	798297 813 [ (an T02	139747 457965 (1.0587 381278	12,306.22 8268.15 (192538) 6.342.80
9	Total comprohansive incomi(loss for the period (7+8)	372693	798999	491026	19,249.02
10 11	[Paid up equity share capital (face value of Rs. 2 per shars) Eamings per oquity shara (face value of Rs. 2 por share) (not annualised for quartors) (Refor Note 3)	1,234.88	1,234.66	1,234.66	1,234.86
	Basic (Rs.) Diluted (Rs)	285 285	1293 1293	225 226	2091 2091

• 1 The above standalone financial results for the quarter ended on 30 June 2024 have been reviewed and recommended for approval by the Audit Committee and acoordingly approved by the Board of Directors of Talbros Automotive Components Limited ('the Company") at ther respective meetings held on 07 August 2024 and hava undergone "Limited Review" by the Statutory Auditors of the company. Mr. Anuj Talwer, JMD s duly authorised by Board to sign the financial results o submission to stock exchanges
• 2 These standalone financial results are prepared in accordance with the recognition and measurement principles of Indian Accounting Standards as nofified under the Compenies (Indian Accounfing Standards) Rules, 2016 as specified in Secion 133 of the Companies Act, 2013, The figures for the quarter endsd 31 March 2024 are the balancing figures between the audited figures in respect of ull inancial year and the published year to date figures upto the third quarter of the relevant financial year, which were subject to imited review.
• 3 The Company has completed the splisub-division of its 1 (One) Equity Share of Rs. 10/- (Rupees Ten only) into 5 (Five) Equity Shares of Rs. 2/- (Rupees Two only) each share as on record date of October 27, 2023, as approved by sharenolders at AGM of the Company held on 25th September 2023, Accordingly, eamings per share (EPS) of comparative period presented for the quarter ended on 30 June 2023 has been calculaled based on number of shares outstanding in respeciive period, as increased by sub- civided/split of shares.
• 4 During the quarter ended March 31, 2024, the Company has completed the process of divesting and selling its entire 40% stake in Its Joint Venture * Nippon Leakless Talbros Private Limitec" (NLTPL) Constituting 48,00,000 fully paid-up equity shares of Rs 10/- each for Rs 81.80 Cr. The sales proceeds was completed on 25th January 2024, The net gain from the transaction has been disclosed as exceptional items in the results. The capital gain tax on sale of investment has been disclosed as part of the tax expense in the results. Following table provides bifurcation of Profit After Tax (PAT) on other than exceptional ftems and exceptional Item.

	Partioulars	Standalons
% L -		Quarter ended			Yoar ended
			0-Jun2é 31-Mar24 30.Jun-zs		_o1-Mar-24
		Unaudited oS00	'Audited )	Unaucited	Audited "
A	[Gther than Exceptional ltems.
	1[Profit Before Exceptional ltem	233726	248311	186415	892502
	2 Tax Expenses	(580.30)	(59487)	(456.68)	(2,133.53)
	Profit Aftar Tax	1,766.9	1,868.24	1,397.47	6,791.49
8.	[Monotization xcoptional item)
1[Sale	of Investment	<	818000	g	8,180.00
	2 Cost of Investment (Bock Value)	g	(480,00}	-	(480,00
	3 Other Related Expenses	R	(46.52)	-	(46.52)]
	4 Profit on Sales of Investments.		766348	g	7,663.45
	5 Capital Gain Tax		153875	R	(1538.75)
	Profit Aftor Tax (Exceptional items)	4	ettars	B	6,114.73

5 In line with the provisions of Ind AS 108 - Operafing Segments and on the basis the revisw of operations being done by the senior management, the operations of the Company fall under Auto Components & Parts business, which is considered to be the only reportable segmen by the managemen.

For Talbros Automol

CHARTERED ACCOUNTANTS

BRANCH OFFICE : B-5, SECTOR-6, NOIDA - 201 301 (U.P.) TEL. : 491 - 120 - 4241000, FAX : +91-120-4241007 EMAIL ; taxaid@icbhalla.com

Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year-to-Date Results of the Company Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

J. C. BHALLA & CO.

To the Board of Directors of Talbros Automotive Components Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Talbros Automotive Components Limited ("the Company") and its share of the net profit after tax and total comprehensive income of its joint venture entities for the quarter ended June 30, 2024 ("the Statement") being submitted by the Company pursuant to the requirements of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.
• 1. This Statement which is the responsibility of the Company's Management and approved by the 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"), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with standards on Auditing specified under section 143(10) of the Companies Act 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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

• 1. The Statement includes the results of the following joint venture entities:
• (i) Marelli Talbros Chassis Systems Private Limited
• (ii) Talbros Marugo Rubber Private Limited
• 1. Attention is drawn to the fact that the figures of the three months ended 31 March 2024 as reported in the Statement are balancing figures between audited figures in respect of the full previous financial year and the published year-to-date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of the previous financial year had only been reviewed and not subjected to audit.
• 1. Based on our review conducted and procedure performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian accounting Standard and other accounting principles generally accepted in

India, has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (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.

The consolidated unaudited financial results include the Group's share of net profit after tax of Rs. 30451 lakhs for the quarter ended on June 30, 2024, respectively and total comprehensive income of Rs.303.62 lakhs for the quarter ended June 30, 2024, respectively, as considered in the statement, in respect of two Joint Ventures, whose interim financial results have not been reviewed by us. These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the management and our conclusion on the statement, in so far as it relates to the amounts and disclosure included in respect of joint ventures is based solely on the report of other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the statement is not modified in respect of this matter.

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

Partner Membership No. 505002 UDIN:2Y §v Soo 2. RK Y TS 2L FF

Place: New Delhi Date : August 07, 2024

TALBROS AUTOMOTIVE COMPONENTS LIMITED CIN :L26195HR1956PLC033107 REGD. OFFICE : 141, DELHI MATHURA ROAD, FARIDABAD-121 003 (HARYANA) Tel No.: 0129-2251482 Website: wwav.taloros.com, Email: seema_narang@talbros com

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2024

					(Rs. inlacs)
		Consolidated
			'Guartor ended		Yoar onded
	5. No. Partioulars		S0Junza 31-Mar-24 30-Jun-z3 3iMar.24
		5	Unaudited o o o 'Auditod	7y Unaudited Auditod
T	[income. 2) Revenus from operations
		2043467	2026762	1828262	7782668 125067
	b) Other income Total income.	488.95 2052362	47761 2074623	24885 1853127	7908635
2	[Exponses ) Cost of materials consumed	1099757	1036807	0978838	4115883
	b) Purchase of stock-in-trade	9957	143,84	12908	49575
	) Changes In inventories of finished goods, working in progress and stock-in-rade	5373	95.85	15248	59384
	d) Employee benefis expense	2,344.81	211743	201433	8,111.90
	) Finance costs	33381	31212	32025	1.326.54
	) Depreciation and amortisation expense	787.41	77178	599,83	2,591.09
	9) Other expenses	3,969.46	447533	36279	16,001.17
	Total oxpanses	18,686.36	18,2212	1666712	7027913
3	Pronti(Loss) boforo oxcoptional oms, share in profit of joint ventures (net) and tax (1-2)	2,307.26	246341	186416	8,807.22
4	Exceptional items - Gaii(Loss) (Refer Note 4)	-	4245.54	-	424554
5	Profiti(Loss) boforo sharo in profit of jont ventures (net) and tax (3+4)	2,307.26	670865	186415	13,06276
6	[Share in profit(ioss) of joint ventures (nef)	30451	403.48	34434	1617.15
7	[Profiti(Loss) before tax (5+6)	264177	741243	220849	14,668.91
&	[Taxoxpense 2) Current tax	60652	213257	483,04	371889
	b) Deferred tax	(26.22)	105	(26.36)	(3187)
	<) Earlier years tax adjustment net)	-			(14.74)
	Total (asbo)	580.30	- 213362	- 466.68	3,672.28
9	Nat profit aftor tax (7-8)	2,061.47	497851	174181	1099763
10	Other comprohensive income(loss)
	) ltems that will not be reciassified to profit and loss	2,566.07	758 @]	457854	6.254.29
	o) Income tax relating to items that will not be reciassified to profit and loss	(598 .00)		(08887	(1.926.36)]
	Total other comprehonsive incoma(loss)	1,968.07	647	351167	6,338.93
11	Total comprehonsive incomel(loss) for the periodiyear (+10)		498498	526048	17,336.66
	Not profiti(Loss) attributable to:
	Owners of the Company	2,061.47	agrest	174181	1099783
	Non-controlling interests	-	-	-	-
	Other comprehensive income attributable to:
	'Owners of Company	196807	647	351167	633893 A
	Nen-controlling interests	B	:	p
12	[Paid up equity share capital (face value of Rs. 2 par sharo)	123456	123456 [	123456	1,24.86
13	(not annualised for quartors) Eamings per oquity sharo (face value of Rs. 2 per shara)
	(Rofor Note 3) Basic (Rs.)	334	807	282	1762
	Diluted (Rs )	334	807	282	1782

Note: | The above consolidated financial results for the quarter endsd on 30 June 2024 have been reviewed and recommended for approval by the Audit Comittes and accordingly approved by the Board of Direciors of Talbros Automotive Components Limited ('the Company') at thelr respective meetings held on 07 August 2024 and have undergone "Limited Review" by the Stalutory Auditors o the company. Mr. Anyj Taiwar, JMD is culy authorised by Board to sign the financial results for

2 Talbros Automotive Components Limited (the Company') and its joint ventures are togather referred as 'the Group' i the following notes. These consolidated financial results are prepared in accordance with the recognition and measurement principles of Indian Accounting Slandards as notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in Section 133 of the Companies Act, 2013. The figures for the quarter ended 31 March 2024 are the balancing figures between the audited figures in respect of fullfinancial year and the published year to date figures Upto the third quarter of the relevant financial year, which

3 The Gompany has campleted the spisub-division of ts 1 (One) Equity Share of Rs. 10/- (Rupees Ten only) iio 5 (Five) Equily Shares of Rs. 2/ (Rupses Two only) esch share as on record dale of Cciober 27, 2023, as approved by shereholders at AGM of the Compeny held on 25ih Seplamber 2023, Accordingly. eamings per share (EPS) of comparative period presentd fo {he quarter ended on 30 June 2023 has been calculated based on number of shares outslanding n respeciive period, as increased by sub-divded/spl of shares. 4 During the quarte ended March 31, 2624, the Company has compleed the process of divesting and selling it eniire 40% stake In s Joint Venture * Nippon Lealdess Taloros Privato Limited (NLTPL) Constiing 48,00,000 fully pald-up ecuiy shares of Rs 10/- cach for Rs 81.80 Gr. The sales proceeds was completed on 25t January 202, The net gain from the transaction has been disclosed as exceplion flams in the results. The capital gain tax on sale ofinvestmen has been disclosed 's partof the fax expanse in (he resuts. Following table providss bfurcation of Profit After Tax (PAT) on ofher than exceptional iers and exceptional tems. (Rs. n lacs) Consolidated Guartor onded Voar onded s. No.|Particulars Todund | 3t-Mar-2 | 50Jun3 | 31Mar2d

			Unauditd o pucled	unsucited - Auditod
A	Excsponal Ot han Tems.
	1{Proft Before Exceptional fem	26a177	208650	220840	1042437
	2 Tax Expenses	se030)	(59	(4ssee)	(21335%)
	Profit Aftor Tax	206047	227172	t74181	29084 s
5.	Monetization of NLTPL (Exceptional item
	1 Sale of Investment		818000
	2 Cost of Investmant determined on the basis of equiy method of Accounting		(eeerss		eerse
	3[Other Related Expenses	-	6.52)	-	6.52)
	4 profit on Sales of Investments		sasss		s2esse
	5 Capital Gain Tax		ssers) 27087		issers)
	Profit Attor Tax (Exeoptional ttom)				270670

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

Annexure-Il

Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Particulars	Mr. Rakesh Vohra	Mr. Rajat Verma
change Reason for viz.	Apponitment of Mr. Rakesh Vohra	Apponitment of Mr. Rajat Verma
appointment,	00836463) Additional (DIN: an as	(DIN: 02548070) as an Additional
resignation,—removal;	Director (Non-Executive,	(Non-Executive, Director
death-orotherwise	Independent)	Independent)
appointment/ Date of	Rakesh Vohra been Mr. has	Verma been Mr. Rajat has
	appointed as an Additional Director	appointed Additional an as
(as applicable) & term of	to hold office upto the date of next	Director to upto the hold office
appointment/re	Annual Meeting General the of	Annual General date next of
apponent;	Company, and thereafter, subject to	Company, Meeting and the of
	the approval of the members of the	thereafter, subject to the approval
	Company.	of the members of the Company.
Brief Profile	Rakesh Vohra, about 59 aged Mr.	Mr. Rajat Verma is the founder and
	years, is a Commerce Graduate from	CEO of Lohum Cleantech honored
	Delhi University and qualified	as "The Most Innovative Company
	Chartered Accountant with over 35	2022 year the of '"by
	managing experience years of as	Confederation of Indian Industry in
	partner M/s Vohra Sehgal, & of Chartered Accountants. He has vast	2022.
	Management experience	He holds engineering degree from
	in Consultancy, Accounting, Taxation,	MS Kanpur followed by
	Audit, Financial Planning, Assurance	IIT in engineering Standford from
	and Business Advisory.	MBA USA from University, and
		Harvard Business school.
		spent years He has 25 the in
		technology industry and has rich
		experience in the electronic waste
		management ecosystem.
		developed and He has
		commercialized solutions several
		across the waste value chain for
		markets across India, the US, and
		GCC.
Disclosure of	Mr. Rakesh Vohra is not a relative of	Mr. Rakesh Vohra is not a relative
relationships between	any Director.	of any Director.
Directors