TANFAC Industries Ltd. — Annual Report 2021

May 8, 2021

General information about company	General information about company
Scrip code	506854
NSE Symbol
MSEI Symbol
ISIN*	INE639B01015
Name of company	TANFAC Industries Limited
Type of company
Class of security	Equity
Date of start of financial year	01-04-2020
Date of end of financial year	31-03-2021
Date of board meeting when results were approved	07-05-2021
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	29-04-2021
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Quarter	Yearly
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited	Audited
Segment Reporting	Single segment
Description of single segment	Chemicals
Start date and time of board meeting	07-05-2021 13:00
End date and time of board meeting	07-05-2021 14:30
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion

Financial Results – Ind-AS	Financial Results – Ind-AS	Financial Results – Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2021	01-04-2020
B	Date of end of reporting period	31-03-2021	31-03-2021
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	3873.16	14789.55
	Other income	103.97	136.63
	Total income	3977.13	14926.18
2	Expenses
(a)	Cost of materials consumed	1749.99	6922.84
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in- progress and stock-in-trade	381.3	104.23
(d)	Employee benefit expense	238.31	1146.96
(e)	Finance costs	13.67	51.7
(f)	Depreciation, depletion and amortisation expense	166.62	847.48
(f)	Other Expenses
1	Power and Fuel	266.76	964.72
2	Other Expenses	1152.19	2382.24
10
	Total other expenses	1418.95	3346.96
	Total expenses	3968.84	12420.17

	Financial Results –		Ind-AS
	Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
	A	Date of start of reporting period	01-01-2021	01-04-2020
	B	Date of end of reporting period	31-03-2021	31-03-2021
	C	Whether results are audited or unaudited	Audited	Audited
	D	Nature of report standalone or consolidated	Standalone	Standalone
	Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
	3	Total profit before exceptional items and tax	8.29	2506.01
	4	Exceptional items	0	0
	5	Total profit before tax	8.29	2506.01
	7	Tax expense
	8	Current tax	-24.13	865.85
	9	Deferred tax	37.96	-107.25
	10	Total tax expenses	13.83	758.6
	11	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
	14	Net Profit Loss for the period from continuing operations	-5.54	1747.41
	15	Profit (loss) from discontinued operations before tax	0	0
	16	Tax expense of discontinued operations	0	0
	17	Net profit (loss) from discontinued operation after tax	0	0
	19	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
	21	Total profit (loss) for period	-5.54	1747.41

Financial Results – Ind-AS	Financial Results – Ind-AS	Financial Results – Ind-AS
Particulars		3 months/ 6 month ended (dd- mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2021	01-04-2020
B	Date of end of reporting period	31-03-2021	31-03-2021
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Item that will not be reclassified to profit and loss	71.72	80.41
	Total Amount of items that will not be reclassified to profit and loss	71.72	80.41
2	Income tax relating to items that will not be reclassified to profit or loss	23.96	23.96
3	Amount of items that will be reclassified to profit and	loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	47.76	56.45

Financial Results – Ind-AS	Financial Results – Ind-AS	Financial Results – Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2021	01-04-2020
B	Date of end of reporting period	31-03-2021	31-03-2021
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company months ended, in such case zero shall be inserted in the said column.		has no figures for 3 months / 6
23	Total Comprehensive Income for the period	42.22	1803.86
24	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
25	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	0	0
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	0	0
26	Details of equity share capital
	Paid-up equity share capital	997.5	997.5
	Face value of equity share capital	10	10
27	Details of debt securities
28	Reserves excluding revaluation reserve		7326.07
29	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	-0.06	17.52
	Diluted earnings (loss) per share from continuing operations	-0.06	17.52
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	-0.06	17.52
	Diluted earnings (loss) per share from continuing and discontinued operations	-0.06	17.52
30	Debt equity ratio
31	Debt service coverage ratio
32	Interest service coverage ratio
33	Disclosure of notes on financial results	Textual Information(1)

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Textual Information(1)

1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 7th May 2021. 2. The company operates in a single segment i.e, Chemicals in India and all other activities evolve around the same. Hence, there is no reportable primary/ secondary segment in accordance with the requirements of Ind AS 108, 'Operating Segments'. 3. Figures of the last quarter are the balancing figures between audited figures in respect of the full financial year and published year to date reviewed figures upto the 3rd quarter of the relevant financial year. 4. The Government of India, on 20th September, 2019 vide the Taxation Laws (Amendment) Ordinance 2019, inserted a new section 115BAA in the Income Tax Act, 1961 which provides an option to the Company for paying income tax at reduced rates subject to compliance of the conditions stipulated therein. The Company has chosen not to opt for the reduce rate of tax in September, 2019 and continue with the existing rate of Tax. 5. Though the spread of COVID-19 pandemic partially impacted operations and financial results of the Company, the Company continue to take various precautionary measures to protect from COVID-19, strictly adhering to the guidelines issued by the Central and State Governments from time to time. As part of its Business Continuity Plan (BCP), the Company has assessed the impact of pandemic on its financial results based on internal and external information available up to the date of approval of the financial results. and believes that there is no material impact or adjustments required in the financial result for the period ending 31st March 2021. As the situation is continuously evolving, the company will continue to monitor future events for any material change in the economic conditions.. 6. During the quarter, the company’s plant was shut down from 4th February 2021 to 29th March 2021 for installation of new equipment. The new equipment has been successfully installed and capitalized in the books during the quarter. The installation of new equipment does not augment in any manner, the installed capacity of the plant. 7. The Company had reassessed the useful life of some of its main assets during the previous quarter ending 31st December 2020. Based on the assessment, the Company had made additonal depreciation provision of Rs. 64.83 lakhs during the quarter and Rs. 336.37 lakhs during the year ended 31st March 2021. 8. Figures for the previous period / year have been rearranged /reclassified wherever necessary, to correspond with current period / year presentation.

	Statement of Asset and Liabilities Particulars Current year ended (dd-mm-yyyy) Date of start of reporting period 01-04-2020 Date of end of reporting period 31-03-2021 Whether results are audited or unaudited Audited Nature of report standalone or consolidated Standalone Assets 1 Non-current assets Property, plant and equipment 4006.72 Capital work-in-progress 289.8 Investment property 0 Goodwill 0 Other intangible assets 0 Intangible assets under development 0 Biological assets other than bearer plants 0 Investments accounted for using equity method 0 Non-current financial assets Non-current investments 132.05 Trade receivables, non-current 0 Loans, non-current 0 Other non-current financial assets 6.54 Total non-current financial assets 138.59 Deferred tax assets (net) 0 Other non-current assets 84.75 Total non-current assets 4519.86 2 Current assets Inventories 2470.46 Current financial asset Current investments 2136.97 Trade receivables, current 1601.26 Cash and cash equivalents 238.12 Bank balance other than cash and cash equivalents 397.01 Loans, current 0.94 Other current financial assets 662.15 Total current financial assets 5036.45 Current tax assets (net) 0 Other current assets 0 Total current assets 7506.91	Statement of Asset and Liabilities Particulars Current year ended (dd-mm-yyyy) Date of start of reporting period 01-04-2020 Date of end of reporting period 31-03-2021 Whether results are audited or unaudited Audited Nature of report standalone or consolidated Standalone Assets 1 Non-current assets Property, plant and equipment 4006.72 Capital work-in-progress 289.8 Investment property 0 Goodwill 0 Other intangible assets 0 Intangible assets under development 0 Biological assets other than bearer plants 0 Investments accounted for using equity method 0 Non-current financial assets Non-current investments 132.05 Trade receivables, non-current 0 Loans, non-current 0 Other non-current financial assets 6.54 Total non-current financial assets 138.59 Deferred tax assets (net) 0 Other non-current assets 84.75 Total non-current assets 4519.86 2 Current assets Inventories 2470.46 Current financial asset Current investments 2136.97 Trade receivables, current 1601.26 Cash and cash equivalents 238.12 Bank balance other than cash and cash equivalents 397.01 Loans, current 0.94 Other current financial assets 662.15 Total current financial assets 5036.45 Current tax assets (net) 0 Other current assets 0 Total current assets 7506.91	Statement of Asset and Liabilities Particulars Current year ended (dd-mm-yyyy) Date of start of reporting period 01-04-2020 Date of end of reporting period 31-03-2021 Whether results are audited or unaudited Audited Nature of report standalone or consolidated Standalone Assets 1 Non-current assets Property, plant and equipment 4006.72 Capital work-in-progress 289.8 Investment property 0 Goodwill 0 Other intangible assets 0 Intangible assets under development 0 Biological assets other than bearer plants 0 Investments accounted for using equity method 0 Non-current financial assets Non-current investments 132.05 Trade receivables, non-current 0 Loans, non-current 0 Other non-current financial assets 6.54 Total non-current financial assets 138.59 Deferred tax assets (net) 0 Other non-current assets 84.75 Total non-current assets 4519.86 2 Current assets Inventories 2470.46 Current financial asset Current investments 2136.97 Trade receivables, current 1601.26 Cash and cash equivalents 238.12 Bank balance other than cash and cash equivalents 397.01 Loans, current 0.94 Other current financial assets 662.15 Total current financial assets 5036.45 Current tax assets (net) 0 Other current assets 0 Total current assets 7506.91
	Statement of Asset and Liabilities
	Particulars		Current year ended (dd-mm-yyyy)
	Date of start of reporting period		01-04-2020
	Date of end of reporting period		31-03-2021
	Whether results are audited or unaudited		Audited
	Nature of report standalone or consolidated		Standalone
		Assets
	1	Non-current assets
		Property, plant and equipment	4006.72
		Capital work-in-progress	289.8
		Investment property	0
		Goodwill	0
		Other intangible assets	0
		Intangible assets under development	0
		Biological assets other than bearer plants	0
		Investments accounted for using equity method	0
		Non-current financial assets
		Non-current investments	132.05
		Trade receivables, non-current	0
		Loans, non-current	0
		Other non-current financial assets	6.54
		Total non-current financial assets	138.59
		Deferred tax assets (net)	0
		Other non-current assets	84.75
		Total non-current assets	4519.86
	2	Current assets
		Inventories	2470.46
		Current financial asset
		Current investments	2136.97
		Trade receivables, current	1601.26
		Cash and cash equivalents	238.12
		Bank balance other than cash and cash equivalents	397.01
		Loans, current	0.94
		Other current financial assets	662.15
		Total current financial assets	5036.45
		Current tax assets (net)	0
		Other current assets	0
		Total current assets	7506.91

Statement of Asset and Liabilities	Statement of Asset and Liabilities
Particulars		Current year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2020
Date of end of reporting period		31-03-2021
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	12026.77
	Equity and liabilities
	Equity
	Equity attributable to owners of parent
	Equity share capital	997.5
	Other equity	7326.07
	Total equity attributable to owners of parent	8323.57
	Non controlling interest
	Total equity	8323.57
	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	0
	Trade payables, non-current	0
	Other non-current financial liabilities	0
	Total non-current financial liabilities	0
	Provisions, non-current	43.58
	Deferred tax liabilities (net)	393.54
	Deferred government grants, Non-current	0
	Other non-current liabilities	0
	Total non-current liabilities	437.12
	Current liabilities
	Current financial liabilities
	Borrowings, current	0
	Trade payables, current	2631.25
	Other current financial liabilities	0
	Total current financial liabilities	2631.25
	Other current liabilities	237.96
	Provisions, current	396.87
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	3266.08
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	3703.2
	Total equity and liabilites	12026.77
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results	Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results	Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results	Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd- mm-yyyy)	Year to date figures for current period ended (dd- mm-yyyy)
Date of start of reporting period		01-01-2021	01-04-2020
Date of end of reporting period		31-03-2021	31-03-2021
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
**1 **	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
**2 **	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
**3 **	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets
	Net Segment Asset
**4 **	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities
	Net Segment Liabilities
	Disclosure of notes on segments

Cash flow statement, indirect	Cash flow statement, indirect
Particulars		Year ended (dd-mm- yyyy)
A	Date of start of reporting period	01-04-2020
B	Date of end of reporting period	31-03-2021
C	Whether results are audited or unaudited	Audited
D	Nature of report standalone or consolidated	Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax	2506.01
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs	51.7
	Adjustments for decrease (increase) in inventories	-788.95
	Adjustments for decrease (increase) in trade receivables, current	490.13
	Adjustments for decrease (increase) in trade receivables, non-current	0
	Adjustments for decrease (increase) in other current assets	0
	Adjustments for decrease (increase) in other non-current assets	0
	Adjustments for other financial assets, non-current	0
	Adjustments for other financial assets, current	0
	Adjustments for other bank balances	0
	Adjustments for increase (decrease) in trade payables, current	854.46
	Adjustments for increase (decrease) in trade payables, non-current	0
	Adjustments for increase (decrease) in other current liabilities	0
	Adjustments for increase (decrease) in other non-current liabilities	0
	Adjustments for depreciation and amortisation expense	847.48
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss	0
	Adjustments for provisions, current	0
	Adjustments for provisions, non-current	0
	Adjustments for other financial liabilities, current	0
	Adjustments for other financial liabilities, non-current	0
	Adjustments for unrealised foreign exchange losses gains	0
	Adjustments for dividend income	0
	Adjustments for interest income	0
	Adjustments for share-based payments	0
	Adjustments for fair value losses (gains)	0
	Adjustments for undistributed profits of associates	0
	Other adjustments for which cash effects are investing or financing cash flow	0
	Other adjustments to reconcile profit (loss)	80.41
	Other adjustments for non-cash items	-0.9
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships	0
	Total adjustments for reconcile profit (loss)	1534.33
	Net cash flows from (used in) operations	4040.34
	Dividends received	0
	Interest paid	0
	Interest received	0
	Income taxes paid (refund)	319.48
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) operating activities	3720.86
	Cash flows from used in investing activities

		Cash flows from losing control of subsidiaries or other businesses	0
		Cash flows used in obtaining control of subsidiaries or other businesses	0
		Other cash receipts from sales of equity or debt instruments of other entities	0
		Other cash payments to acquire equity or debt instruments of other entities	0
		Other cash receipts from sales of interests in joint ventures	0
		Other cash payments to acquire interests in joint ventures	0
		Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships	0
		Cash payment for investment in partnership firm or association of persons or limited liability partnerships	0
		Proceeds from sales of property, plant and equipment	8.55
		Purchase of property, plant and equipment	873.85
		Proceeds from sales of investment property	0
		Purchase of investment property	0
		Proceeds from sales of intangible assets	0
		Purchase of intangible assets	0
		Proceeds from sales of intangible assets under development	0
		Purchase of intangible assets under development	0
		Proceeds from sales of goodwill	0
		Purchase of goodwill	0
		Proceeds from biological assets other than bearer plants	0
		Purchase of biological assets other than bearer plants	0
		Proceeds from government grants	0
		Proceeds from sales of other long-term assets	0
		Purchase of other long-term assets	0
		Cash advances and loans made to other parties	0
		Cash receipts from repayment of advances and loans made to other parties	0
		Cash payments for future contracts, forward contracts, option contracts and swap contracts	0
		Cash receipts from future contracts, forward contracts, option contracts and swap contracts	0
		Dividends received	0
		Interest received	5.01
		Income taxes paid (refund)	0
		Other inflows (outflows) of cash	-2531.23
		Net cash flows from (used in) investing activities	-3391.52
		Cash flows from used in financing activities
		Proceeds from changes in ownership interests in subsidiaries	0
		Payments from changes in ownership interests in subsidiaries	0
		Proceeds from issuing shares	0
		Proceeds from issuing other equity instruments	0
		Payments to acquire or redeem entity's shares	0
		Payments of other equity instruments	0
		Proceeds from exercise of stock options	0
		Proceeds from issuing debentures notes bonds etc	0
		Proceeds from borrowings	0
		Repayments of borrowings	39.58
		Payments of finance lease liabilities	0
		Payments of lease liabilities	0
		Dividends paid	0
		Interest paid	51.7
		Income taxes paid (refund)	0
		Other inflows (outflows) of cash	0
		Net cash flows from (used in) financing activities	-91.28
		Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes	238.06

		Effect of exchange rate changes on cash and cash equivalents
		Effect of exchange rate changes on cash and cash equivalents	0
		Net increase (decrease) in cash and cash equivalents	238.06
		Cash and cash equivalents cash flow statement at beginning of period	0.06
		Cash and cash equivalents cash flow statement at end of period	238.12