Texmaco Infrastructure & Holdings Ltd — Interim / Quarterly Report 2021

Jan 29, 2021

Texmaco Infrastructure & Holdings Limited

29ih January,202l

National Stock Exchange of lndia Limited
Exchange Plaza, C-1, Block G,
Bandra - Kurla Complex
Bandra (E), Mumbai - 400051
Symbol - TEXINFRA

BSE Limited P. ,1. Towers Dalal Streel, Mumbai - ⁴⁰⁰⁰⁰¹ Scrip Code - ⁵⁰⁵⁴⁰⁰

Dear Sirs,

We would like to inform you that the Board of Directors at its Meeting held today, i.e. 29th January, 2O2l has inter-alia, approved the Unaudited Standalone & Consolidated Financial Results of the Company for the quarter and nine months ended 3l't December,2020 which are enclosed along with the Limited Review Report thereon issued by the Statutory Auditors of the Company'

The Meeting commenced at 4:00 p'm. and concluded at ii:00 p.m'

Thanking you,

Yours faithfully,

For Texmaco Infrastructure & Holdings Limited

Company Secretary & Compliance Officer

Regd. Office: Belgharia, Kolkata 700056.'Ph +91 033 2569 1500. Fax254L L722 / 24P,8 Email : texmail @texmaccri n Website : www.texi nfra.in CIN: 1701O1WB1939P1C009800 r

TEXMACO INFRASTRUCTURE & HOLDINGS LIMITED

Atatement of Unaudited financial cResults

For the quarter and nine months ended 31st December, 2020

Rs. in Lakhs

CIN: L70101WB1939PLC009800

CONSOLIDATED STANDALONE Sr. Ouarter ended Nine Months ended Year ended Quarter ended Nine Months ended Year ended Particulars $No$ 30-Sep-2020 31-Dec-2019 31-Dec-2020 31-Dec-2019 31-Dec-2020 30-Sep-2020 31-Dec-2019 31-Dec-2020 31-Dec-2019 31-Mar-2020 31-Dec-2020 31-Mar-2020 (Unaudited) (Unaudited) (Audited) (Audited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) $\overline{1}$ Income (a) Revenue from Operations 254.20 394.58 310.55 805.95 968.65 1,383.80 411.44 525.68 470.75 1.173.66 1.463.13 1,878.28 237.64 283.11 806.20 843.89 1.104.85 316.26 391.58 293.66 973.59 1.072.44 1.348.40 316.80 (b) Other Income 1.979.86 2.983.13 570.46 604.21 1.779.54 2.041.09 2,732.20 649.08 842.48 753.86 2.307.02 Total Income 786.16 2 Expenses 141.99 (a) Cost of Sub-contracting $\alpha\omega$ $\omega_{\rm{m}}$ $\Delta\omega$ $\omega_{\rm m}$ $\overline{\mathbb{R}}$ $\sim$ College W. (b) Employee Benefits Expenses 102.84 103.47 $100.30$ 290.65 311.57 412.21 257.81 238.77 255.18 664.53 775.08 1.070.36 69.66 85.77 64.02 242.29 183.75 270.62 69.66 85.83 64.02 242.42 184.75 272.14 (c) Finance Costs 272.85 $.207.62$ 273.89 (d) Depreciation and Amortisation Expenses 69.80 69.80 72.80 209.21 207.62 70.06 70.06 72.80 209.99 26.69 $203.11$ $142.31$ 329.75 492.44 627.90 19.89 197.75 141.57 312.11 488.05 612.38 (e) Other Expenses 268.99 462.15 379.43 1.071.90 1.195.38 1.725.57 417.42 592.41 533.57 1.429.05 1.655.50 2.228.77 Total Expenses 3 Profit/(Loss) before Exceptional Items & Tax (1-2) 301.47 224.78 707.64 845.71 1.006.63 231.66 250.07 220.29 550.81 651.52 754.36 324.01 4 Exceptional item $\overline{a}$ $\overline{\mathcal{L}}$ $\sim$ $\sim$ $\sim$ $\mathbb{R}$ $\sim$ $\sim$ $\sim$ 301.47 324.01 224.78 707.64 845.71 1.006.63 231.66 250.07 220.29 550.81 651.52 754.36 5 Profit/(Loss) before Tax (3-4) 6 Tax Expense (a) Current Tax including Tax related to earlier years 65.76 99.55 82.82 186.00 236.21 292.22 71.76 103.60 85.69 199.96 25434 308.40 (b) Deferred Tax charge / (credit) $(24.66)$ $(21.21)$ $(24.66)$ $(21.21)$ $(21.21)$ $(22.66)$ $0.59$ $(21.21)$ $(22.07)$ $(21.21)$ $(29.24)$ $\sim$ $-$ 49.10 177.89 233.13 279.16 99.55 $61.61$ 161.34 215.00 271.01 104.19 64.48 Net Tax Expense 41.10 182.56 145.88 418.39 475.20 7 Net Profit/(Loss) after tax (5-6) 260.37 224.46 163.17 546.30 630.71 735.62 155.81 372.92 $(1,571.25)$ 8 Share in Profit/(Loss) after tax from Associates (Net) 546.29 $(7.03)$ 405.85 $(118.00)$ 646.17 $\sim$ $\overline{\phantom{a}}$ W. A. $\sim$ Sec. Net Profit / (Loss) after tax and share in profit / (loss) of associates (7+8) 728.85 138.85 561.66 254.92 1,064.56 $(1,096.05)$ $\overline{9}$ 260.37 224.46 163.17 546.30 630.71 735.62 1,064.56 10 Profit/(loss) for the period Attributable to: $\overline{\phantom{a}}$ u. $\overline{\phantom{a}}$ u. $\overline{\phantom{a}}$ u. 728.85 138.85 561.66 254.92 $(1,096.05)$ 254.85 1,065.08 $(1,097.32)$ Owners of the Parent $\overline{\phantom{a}}$ 728.85 139.50 561.94 $\overline{\phantom{a}}$ $\ddot{\phantom{a}}$ $\sim$ ÷. $\sim$ $1.27$ Non-Controlling Interest $(0.65)$ $(0.28)$ 0.07 $(0.52)$ u. m. Ξ. m. 11 Other comprehensive income 1.879.04 $(252.20)$ 92.70 5.007.82 $(3.839.59)$ $(6, 403, 74)$ 1,885.82 $(188.59)$ 109.29 5,197.51 $(3,904.63)$ $(6.746.02)$ Items that will not be reclassified to profit or loss (net of taxes) 1.809.04 $(319.20)$ $(94.30)$ 4.804.82 $(4.026.59)$ $(6.655.74)$ 1,797.54 $(278.03)$ $(121.06)$ 4,944.64 $(4, 134.98)$ $(6,946.45)$ Items that will be reclassified to profit or loss 88.28 89.44 230.35 252.87 230.35 200.43 70.00 67.00 187.00 203.00 187.00 252.00 2,139.41 2.614.67 $(49.74)$ 670.95 $5.452.43$ $(2,840.07)$ $(7.842.07)$ 12 Total Comprehensive Income: $(27.74)$ 255.87 5,554.12 $(3, 208.88)$ $(5,668.12)$ 2,614.67 $(49.09)$ 671.23 5,452.36 $(2,839.55)$ $(7, 843.34)$ Owners of the Parent $\frac{1}{2}$ $\mathcal{L}{\text{max}}$ $\sim$ $\sim$ $\sim$ $\sim$ $(0.28)$ $0.07$ $(0.65)$ $(0.52)$ $127$ Non-Controlling Interest $\sim$ $\overline{\phantom{a}}$ $\sim$ $\mathcal{L}{\text{max}}$ $\sim$ $\sim$ $\sim$ 13 Paid up Equity Share Capital (Face Value Rs.1/- Per Share) 1,274.28 1,274.28 1,274.28 1,274.28 1,274.28 1,274.28 1,274.28 1,274.28 1,274.28 1,274.28 1,274.28 1,274.28 29,338.14 54,772.18 14 Other Equity 15 Earnings per Share (of Re.1/- each) (Not Annualised): (a) Basic $0.20$ $0.17$ $0.13$ $0.43$ $0.49$ 0.58 0.57 $0.11$ $0.44$ $0.20$ 0.84 $(0.86)$ (b) Diluted $0.20$ $0.17$ $0.13$ $0.43$ $0.49$ $0.58$ $0.57$ $0.11$ $0.44$ $0.20$ 0.84 $(0.86)$ When Perristed

CIN: L70101WB1939PLC009800

Segment Revenue, Results, Assets and Liabilities

Uner Parchine

for the quarter and nine months ended 31st December, 2020

Rs. in Lakhs

	oopinent itereniae, itesaits, rissets and madnities
				STANDALONE				CONSOLIDATED
Sr.	Particulars	Quarter ended			Nine Months ended		Year ended			Quarter ended		Nine Months ended
No.		31-Dec-2020	30-Sep-2020	31-Dec-2019	31-Dec-2020 31-Dec-2019		31-Mar-2020	31-Dec-2020	30-Sep-2020	31-Dec-2019	31-Dec-2020	31-Dec-2019	31-Mar-2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited) (Unaudited)		(Audited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	1. SEGMENT REVENUE (Gross)						See Re
	Real Estate la)	193.22	219.77	251.44	518.80	720.34	971.78	197.16	222.77	251.44	528.74	722.39	973.84
	Mini Hydro	60.98	174.81	59.11	287.15	248.31	262.89	60.98	174.81	59.11	287.15	248.31	262.89
	Man Power Services	$- -$	$\overline{\phantom{a}}$	$\sim$	$\sim$ $\sim$		149.13	164.31	137.68	166.26	388.03	510.86	808.16
	Total	254.20	394.58	310.55	805.95	968.65	1,383.80	422.45	535.26	476.81	1,203.92	1,481.56	2,044.89
	Less : Inter Segment Revenue	$\sim$ $\sim$	$\sim$	ν.	$\sim$	$\sim$ $-$	$\sim$	(11.01)	(9.58)	(6.06)	(30.26)	(18.43)	(166.61)
	Net Sales/Income from operation	254.20	394.58	310.55	805.95	968.65	1,383.80	411.44	525.68	470.75	1,173.66	1,463.13	1,878.28
	2. SEGMENT RESULTS
	Profit before Interest & Tax
	Real Estate	25.89	47.91	71.55	90.26	187.19	289.89	27.67	48.54	69.07	95.38	184.05.	293.50
	Mini Hydro	(15.79)	103.48	(15.54)	86.20	22.31	(12.09)	(15.79)	103.48	(15.54)	86.20	22.31	(12.09)
	Man Power Services	$\sim$ $\sim$	$\sim$	$\sim$	$\sim$ $-$	$\sim$	7.15	9.19	2.15	11.44	13.65	47.27	6.94
	Unallocated	136.45	4.16	(57.57)	32.41	10.71	(83.19)	(6.30)	(54.34)	(57.56)	(168.84)	(180.38)	(273.35)
	Total	146.55	155.55	(1.56)	208.87	220.21	201.76	14.77	99.83	7.41	26.39	73.25	15.00
	Add/ (Less) : Interest (Net)	154.92	168.46	226.34	498.77	625.50	804.87	216.89	150.24	212.88	524.42	578.27	739.36
	Total Profit before Tax	301.47	324.01	224.78	707.64	845.71	1,006.63	231.66	250.07	220.29	550.81	651.52	754.36
$\overline{\mathbf{3}}$	SEGMENT ASSETS
	Real Estate a)	12,090.38 867.85	12,128.31 924.66	12,126.10 900.29	12,090.38 867.85	12,126.10 900.29	12,163.47 892.15	12,047.29 867.85	12,386.63 924.66	12,277.26 900.29	12,047.29 867.85	12,277.26 900.29	12,124.70 892.15
	Mini Hydro			$\sim$			26.54	2,057.14	1,618.98	1,940.30	2,057.14	1,940.30	1,978.28
	Man Power Services Unallocated	27,757.17	$\overline{\phantom{m}}$ 25,494.99	24,298.63	$\overline{\phantom{a}}$ 27,757.17	24,298.63	22,201.82	51,438.12	48,850.47	50,592.20	51,438.12	50,592.20	46,066.28
	Total	40,715.40	38,547.96	37,325.02	40,715.40	37,325.02	35,283.98	66,410.40	63,780.74	65,710.05	66,410.40	65,710.05	61,061.41
4	SEGMENT LIABILITIES												3,724.03
	Real Estate Mini Hydro	3,700.74 242.90	3,860.14 248.39	3,687.30 252.16	3,700.74 242.90	3.687.30 252.16	3,713.76 266.26	3,706.78 242.90	3,863.93 248.39	3,960.70 252.16	3,706.78 242.90	3,960.70 252.16	266.26
	Man Power Services	$-$	$\sim$	$\sim$	$\sim$	-	18.73	1,711.99	1,700.31	1,589.48	1,711.99	1,589.48	1,653.35
	Unallocated	860.07	667.15	309.75	860.07	309.75	672.81	(572.19)	(738.15)	(1, 232.18)	(572.19)	(1,232.18)	(705.52)
	Total	4,803.71	4,775.68	4,249.21	4.803.71	4.249.21	4.671.56	5.089.48	5.074.48	4,570.16	5,089.48	4,570.16	4,938.12

TEXMACO INFRASTRUCTURE & HOLDINGS LIMITED

Statement of Unaudited Jinancial Results

For the quarter and nine months ended 31st December, 2020

CIN: L70101WB1939PLC009800

Notes:

• 1. (i) The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their Meetings held on 29th January, 2021.
• (ii) The above results for the quarter and nine months ended 31st December, 2020, have been reviewed by the Statutory Auditors as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and have been prepared in accordance with the Ind-AS.
• (iii) The above results for the current quarter and nine months ended 31st December, 2020 have been prepared in accordance with the Ind-AS and based on the Limited Reviewed/Management certified accounts of its Subsidiaries & Associates.
• 1. The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period when the Code becomes effective. income Parish
• 1. Previous period figures have been re-grouped/re-arranged whereever necessary.

Registered Office : Belgharia, Kolkata -700 056 Phone No. +91-33-25691500 Fax No. +91-33-25412448 Website: www.texinfra.in

Utsav Parekh Director DIN: 00027642

Place : Kolkata Dated: 29th January, 2021 Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

G.P. AGRAWAL & Co.

Review Report To The Board of Directors of Texmaco Infrastructure & Holdings Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Texmaco Infrastructure & Holdings Limited ("the Company"), for the quarter and nine month ended 31^stDecember, 2020 ("the statement'), being submitted by the Company pursuant to the requirements of Regulation 33 of the 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 Company's 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 hereunder and other accounting principles generally accepted in India. Our responsibility is to issue a conclusion on this 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons 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 and consequently does not enable us to obtain assurance that we could become aware of all significant matters that might be identified in an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with applicable Indian accounting standards and other recognized practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

GSTN: 19AACFG8964F1Z2 +9133 46012771 +9133 46017361 +9133 66076831 www.gpaco.net mail@gpaco.net Unit 606, 6th Floor Diamond Heritage 16, Strand Road Kolkata - 700001 INDIA

5. Other Matter

Due to the COVID-19 pandemic, nationwide lockdown and other travel restrictions were imposed by the Government/local administration. Hence, the audit processes were carried out electronically by remote access. The necessary records were made available by the management through digital medium and were accepted as audit evidence while reporting for the current period.

Our conclusion on the Statement is not modified in respect of the above matter.

For G. P. Agrawal & Co. Chartered Accountants Firm Regn. No. 302082E

Rakesh Singh

(CA. Rakesh Kumar Singh) Partner Membership No. 066421 UDIN: 21066421AAAABR4961

Place: Kolkata Dated: The 29th day of January, 2021

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

G.P. AGRAWAL & Co.

Review Report To The Board of Directors of Texmaco Infrastructure & Holdings Limited

• 1. We have reviewed the accompanying statement of unaudited consolidated financial results of Texmaco Infrastructure & Holdings Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its associates for the quarter and Nine month ended 31^stDecember, 2020, being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• $\overline{2}$ . This Statement, which is the responsibility of the Parent's Management and approved by the Parent's 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 $\mathbf{3}$ Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons 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 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 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Sl. No.	Name of the entity	Nature of relationship
1	Valley View Landholdings Private Limited	Subsidiary
$\overline{2}$	Macfarlane & Company Limited	Subsidiary
3	High Quality Steels Limited	Subsidiary
4	Topflow Buildcon Private Limited	Step down subsidiary
5	Startree Enclave Private Limited	Step down subsidiary
6	Snowblue Conclave Private Limited	Step down subsidiary
7	Texmaco Rail & Engineering Limited	Associate
8	Lionel India Limited	Associate
9	Magnacon Electricals Limited*	Associate
10	Sigma Rail Systems Private Limited	Associate

The Statement includes the results of the following entities: 4.

*Ceased to be an associate w.e.f. 31st December, 2020

• Based on our review conducted and procedures performed as stated in paragraph 3 above and 5. based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the 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 the 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.
• We did not review the interim financial results of three step down subsidiaries included in the 6. Statement, whose interim financial results reflects, total revenues of Rs. Nil and Rs. Nil, total loss after tax of Rs. 0.06 lakh and Rs. 0.21 lakh and total comprehensive loss of Rs. 0.06 lakh and Rs. 0.21 lakh for the quarter and Nine months ended 31stDecember, 2020 respectively, as considered in the Statement. The Statement also include the Group's share of net profit after tax and net loss of Rs. 501.26 lakh and Rs. 158.50lakhand total comprehensive income of Rs.766.07 lakh and Rs. 289.22lakh for the quarter and nine months ended 31^stDecember, 2020 respectively, as considered in the Statement, in respect of an associate, whose interim financial results have not been reviewed by us. These interim financial results have been reviewed by other auditor whose reports has been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associate, 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 the above matters.

The Statement include the interim financial results of one subsidiary which have not been 7. reviewed by its auditor, whose interim financial results reflect, total revenues of Rs. Nil and Rs. Nil, total loss after tax of Rs. Nil and Rs. 0.16 lakh and total comprehensive loss of Rs. Nil and Rs. 0.16 lakh for the quarter and nine months ended 31^stDecember, 2020 respectively, as considered in the Statement. The Statement also include the Group's share of net loss after tax of Rs. 11.42 lakh and net profit after tax of Rs.40.50 lakh and total comprehensive loss of Rs.11.42lakh and total comprehensive income of Rs. 40.50 lakh for the quarter and nine months ended 31stDecember, 2020 respectively, as considered in the Statement, in respect of three associates, based on their interim financial results which have not been reviewed by their auditors and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiary and associates, is based solely on such unreviewed interim financial results. According to the information and

explanations given to us by the Management, these interim financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

8. Other Matter

Due to the COVID-19 pandemic, nationwide lockdown and other travel restrictions were imposed by the Government/local administration. Hence, the audit processes were carried out electronically by remote access. The necessary records were made available by the management through digital medium and were accepted as audit evidence while reporting for the current period.

For G. P. Agrawal & Co. Chartered Accountants Firm Regn. No. 302082E

Raketh Singh

(CA. Rakesh Kumar Singh) Partner Membership No. 066421 UDIN: 21066421AAAABS4041

Place: Kolkata Dated: The 29th day of January, 2021