TANFAC Industries Ltd. — Interim / Quarterly Report 2021

Feb 11, 2021

Financial Results - Ind AS - Q3-FY'21.html

11/02/2021

	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	10-02-2021
	Date on which prior intimation of the meeting for considering financial results was informed to the exchange	01-02-2021
	Description of presentation currency	INR
	Level of rounding used in financial results	Lakhs
	Reporting Quarter	Third quarter
	Nature of report standalone or consolidated	Standalone
	Whether results are audited or unaudited	Unaudited
	Segment Reporting	Single segment
	Description of single segment	Chemicals
	Start date and time of board meeting	10-02-2021 12:15
	End date and time of board meeting	10-02-2021 02:30
	Whether cash flow statement is applicable on company
	Type of cash flow statement
	Declaration of unmodified opinion or statement on impact of audit qualification	Not applicable

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	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	01-10-2020	01-04-2020
	B	Date of end of reporting period	31-12-2020	31-12-2020
	C	Whether results are audited or unaudited	Unaudited	Unaudited
	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	4712.652	10916.389
		Other income	18.546	32.661
		Total income	4731.198	10949.05
	2	Expenses
	(a)	Cost of materials consumed	1973.667	5172.847
	(b)	Purchases of stock-in-trade	0	0
	(c)	Changes in inventories of finished goods, work-in- progress and stock-in-trade	-104.485	-277.075
	(d)	Employee benefit expense	288.953	908.653
	(e)	Finance costs	28.702	38.032
	(f)	Depreciation, depletion and amortisation expense	382.282	680.862
	(f)	Other Expenses
	1	Power and Fuel	252.596	697.956
	2	Other Expenses	488.545	1230.055
	10
		Total other expenses	741.141	1928.011
		Total expenses	3310.26	8451.33

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	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	01-10-2020	01-04-2020
	B	Date of end of reporting period	31-12-2020	31-12-2020
	C	Whether results are audited or unaudited	Unaudited	Unaudited
	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	1420.938	2497.72
	4	Exceptional items	0	0
	5	Total profit before tax	1420.938	2497.72
	7	Tax expense
	8	Current tax	522.245	889.975
	9	Deferred tax	-121.683	-145.213
	10	Total tax expenses	400.562	744.762
	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	1020.376	1752.958
	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	1020.376	1752.958

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				Year to date figures for current period ended (dd-mm-yyyy) 01-04-2020 31-12-2020 Unaudited Standalone 8.69 8.69 0 0 8.69
	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	01-10-2020	01-04-2020
	B	Date of end of reporting period	31-12-2020	31-12-2020
	C	Whether results are audited or unaudited	Unaudited	Unaudited
	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	0	8.69
		Total Amount of items that will not be reclassified to profit and loss	0	8.69
	2	Income tax relating to items that will not be reclassified to profit or loss	0	0
	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	0	8.69

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	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	01-10-2020	01-04-2020
	B	Date of end of reporting period	31-12-2020	31-12-2020
	C	Whether results are audited or unaudited	Unaudited	Unaudited
	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.
	23	Total Comprehensive Income for the period	1020.376	1761.648
	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
	29	Earnings per share
	i	Earnings per equity share for continuing operations
		Basic earnings (loss) per share from continuing operations	10.229	17.573
		Diluted earnings (loss) per share from continuing operations	10.229	17.573
	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	10.229	17.573
		Diluted earnings (loss) per share from continuing and discontinued operations	10.229	17.573
	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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Text Block 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 February 10, 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. 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. 4. As per the directives of the Central and the State Governments, the Company had suspended the operations at its factory at Cuddalore on 26th March 2020. After obtaining necessary permission, the Company had restarted its operations in a phased manner from 8th April 2020 with controlled entry and exit facilities. The Company continue to take various precautionary measures to protect from COVID-19. As part of Business Continuity Plan (BCP), the Company has made a detailed assessments of its operations, liquidity positions, recoverability & carrying values of the assets comprising of Plant & Machinery, Trade Receivables, Inventory and other Current and Non-Current Assets and believes that there is no material impact or adjustments required in the financial result for the period ending 31st December 2020. Management believes that it has taken into account all the possible impact of events known till the date of approval of the financial statements. Management believes that existing customer and supplier relationships and its market position arising from COVID-19 pandemic is not expected to be significant. As the situation is continuously evolving, the company will continue to monitor future events for any material change in the economic conditions. 5. The Company had reassessed the useful life of some of its main assets during the quarter. Based on the assessment, the Company had made additonal depreciation provision of Rs.271.54 lakhs during the quarter and period ended 31st December 2020. 6. Figures for the previous period / year have been rearranged /reclassified wherever necessary, to correspond with current period / year presentation.

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	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 01-10-2020 01-04-2020 Date of end of reporting period 31-12-2020 31-12-2020 Whether accounts are audited or unaudited Unaudited Unaudited 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	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 01-10-2020 01-04-2020 Date of end of reporting period 31-12-2020 31-12-2020 Whether accounts are audited or unaudited Unaudited Unaudited 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	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 01-10-2020 01-04-2020 Date of end of reporting period 31-12-2020 31-12-2020 Whether accounts are audited or unaudited Unaudited Unaudited 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	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 01-10-2020 01-04-2020 Date of end of reporting period 31-12-2020 31-12-2020 Whether accounts are audited or unaudited Unaudited Unaudited 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
	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		01-10-2020	01-04-2020
	Date of end of reporting period		31-12-2020	31-12-2020
	Whether accounts are audited or unaudited		Unaudited	Unaudited
	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

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