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The Hi-Tech Gears Limited Interim / Quarterly Report 2020

Feb 7, 2020

60329_rns_2020-02-07_c73d61b2-3fab-42f7-a231-f1b6d1b7dce4.pdf

Interim / Quarterly Report

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� THE Hl.-TECH GEARS LTD. CIN - L29130HR1986PLC081555

Corporate Office: Millennium Plaza, Tower-B, Sushant Lok-1, Sector-27, Gurugram -122009, Haryana, INDIA Tel.: +91(124) 4715100

Date: February 07, 2020

The Manager, Listing Department, National Stock Exchange of India Ltd, "Exchange Plaza", C-1, Block - G Bandra - Kurla Complex, Bandra (E) Mumbai - 400051, India

The Manager, Listing Department, Bombay Stock Exchange Ltd Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400001, India

Symbol: HITECHGEAR

Scrip Code: 522073

Subject: Outcome of the Board Meeting held on February 07, 2020

Dear Sir/Madam

Pursuant to Regulation 30, 33 and any other applicable regulation of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you that the Board of Directors of the Company in its meeting held today, i.e. February 07, 2020, have considered and approved, inter alia, the following matters:

  1. The unaudited standalone & consolidated financial results of the company for the 3[rd ] quarter and nine months ended on December 31, 2019. A copy of prescribed format as approved by the Board and signed by the Executive Chairman and Limited Review Report is annexed for your ready reference.

  2. The Board of Directors have declared an interim dividend on equity shares @ 15% i.e. Rs.1.50/­ (One Rupee Fifty Paise Only) per share on the paid up share capital of the company for the year 2019-20.

  3. The Board of Directors have fixed February 22, 2020, as the Record date for the purpose of determining the list of members/ shareholders entitled to interim dividend.

The Results will be published in the Newspaper in terms of Regulation 47(1) (b) of SEBI (LODR) Regulations, 2015 in due course and same shall be placed on the Website of the Company.

The Meeting of the Board of Directors commenced at 04:15 P.M. and concluded at 06:15 P.M

You are kindly requested to take the above information on record and oblige.

Thanking You,

Yours Faithfully, For The Hi-Tech Gears Limited

==> picture [76 x 36] intentionally omitted <==

Nav · Jain Company Secretary M. No: A15237 Encl: as above

==> picture [78 x 80] intentionally omitted <==

www.thehitechgears.com

Works l: A-589, Industrial Complex, Bhiwadi -301 019 Rajasthan INDIA Tel.: +91(1493) 265000 Regd. Office & Works-11: Plot No. 24 -26 Sector-7, IMT Manesar -122 050 Gurugram, Haryana INDIA Tel.: +91 (124) 4 715200 Works-III: Plot No. SP-146A, Industrial Complex, Bhiwadi - 301019-Rajasthan INDIA Head Office: C-41/B, Kalkaji, New Delhi -110019 INDIA Subsidiaries: The Hi-Tech Gears Canada. Inc. 361, Speedvale Ave W. Guelph, ON NIH 1C7, CANADA Teurech LLC. 227, Barton St. Emporium. PA 15834, USA

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I�
THE HI-TECH GEARS LIMITED
Red Ofe: Plot No 24. 26, IMT Manesar, SecOf7, Gurugram-122050, Harana
Corpr&te Offce: Millennlum Plaza, TowerB, Sushanl Lok-1,Secor-27 Gurugram-122009, Haryana
CJN L29130HR1986PLC081555; Webte : w tehitechgear com; e-mail i: secretriel@thehitechgears com;
Ph No 0124-715100 Fax: 0124-280085
SlJtemnt of un . udted I Standalone and Consolidated I Fln■nclal Resuls for the auarer and nine months ended December 31. 2019
(R$, l mOUon, excen1 Of share d..al
SndaltRuu'.
C,n,olkfated Rc,ulls
Our tene
Ntne months Ended
Year ended
ou:ntrondd
Nine moplhS Ended
Year ended
Decembr 31. S.ptembr 30,
Ocembr31�
Dcembr 31,Dcembr 31,
March 31, 2019
Decembr 31,
September 30,Dcembr 31,
Oecembr 31,
Decembr 31,
March 31, 2019
2019
2019
2018
2019
2018
2019
2019
2018
2019
2018
P■rleulus
Unaudited
Unaudited
Unaudied
Unaudited
Unaudied
Audited
Unaudited
Unaudited
Unaudited
Unaudited
Unaudited
Audited
IIncom
•I
REvtrnuo from oprabons
1 12J 66
1 29561
1 467 89
3,880 87
4,699 20
6,257 07
1,592 49
1,770 55
1,956 54
5,489 61
6,543 11
8,896 50
b)
Other opomtmg revenuts
30 79
40 41
48 17
116 36
163 72
215 08
33 78
42 27
53 98
125 45
185 57
240 72
c)
Olhor Incomo
10 J6
17 97
71 11
45 53
14766
162 37
1812
22 69
78 01
6912
160 57
169 59
Total Incom
1.1u.a1
1.353.99
1.53"97
4.042.76
5.010.58
6,634.52
1.64.39
1.635.51
2.088.53
5,684.18
6.889.25
9.306,81
'Expenses
n)
Co!I ol mlllon1I consumo
468 87
608 40
785 75
1,788 68
2,457 81
3,234 03
658 97
770.76
1,009 06
2,382 73
3,20845
4,334 60
b)
Purchases ol stocl-m-lrnde
45 50
92 16
60 9
198 72
230 59
318 20
45 50
92 16
60 95
198 72
230.59
323 72
c)
Changes In 1nvenlones ol fin�e goos and work m proress
42 84
(10 93)
(20 99)
41 39
(42 99)
(90 46)
2,11
(11 50)
(81 46)
19 25
(105 37)
(165 71)
d)
Employee bnefn expn5e
214 52
257 43
252 63
76249
719 07
1,005 41
387 99
459 55
45329
1,380 36
1,365 so
1,921.71
•I
Financo costs
37 83
60 32
49 78
148 89
13719
184 10
65 24
87.23
86 49
227 91
230.80
294 81
Q
Oeprocu,bon and nmorbon expense
66 51
66 35
68 IS
20398
202 34
270 80
105 81
106 02
103.8
321,89
310.5
42191
g)
Olher expnses
222 9
232 38
20 85
736.14
898 23
1,183 2
291 33
311 47
328,87
957 91
1,219 81
1,590 50
Total expenses
1 099.0l
1 306.11
U16.93
3.878.29
•,&02.24
6,103.30
1,556.95
1,815.69
1.960.78
5,488.77
6,480.23
8.721.54
3 Profh btor tn(1•ZJ
SUI
47.88
170.0
164.47
408.34
531.22
87.44
19.82
127.75
195.41
409,0Z
585.27
~~•~~TH expense
•ICurrtnl lax
20 71
15 2
19 70
54 01
143 30
166 00
26 26
12 60
21,65
64 97
16967
176 56
b)Oohmod lar crot
6 89
(998)
410
(119)
1 35
10.38
694
(14 32)
(3,50)
(127)
(14 49)
52 93
c)Eorhor yoa� tnx 1d1ustment (nel)
(2 75)
-
(2 75)
(2 75)
-
(2,75)
-
Total tax exonse
24.65
5.24
23.80
50.07
14.65
176.38
30.45
(1,721
18.15
60.95
155.18
22949
5 Profit for th•perod(3-)
41.13
42.64
146.24
114.40
263.69
35.8
56.99
Z1.5
109.60
134.46
253.84
355.78
0Other compr.henslv• Incom
(i)ltem! Iha! w11 no!brecla�fed lo profi or loM
0 76
0 44
1 21
1 91
3 54
2 66
0 76
0 44
1 21
1 91
3 54
2 66
MIncome lex relatng lo tems Iha! Wii nol b reclauifHM lo p(Ofil or los
(0 16)
(0 10)
(0 40)
(048)
(1 20)
(0 88)
(0.15)
(0.10)
(0 40)
(047)
(1 20)
(088)
C•l\lem, lhal WIii b reclas lo prnrr or los
(9 56)
2 85
1
(72 57)
15 67
16 41
(123,78)
(7 29)
35 17
35 70
(i)Income lax relabng lo lems that wllbreclaSfl& to prof and loss
2'1
(7 71)
18 27
2 22
(7 22)
(5.00)
16 27
(9,60)
(5 06)
Tot. other comprhenstve Incom
(6.55**
(4.52)
0.81
(52.871
2
1.78
18.50
9.53
[127.97)
1UZ
27.91
32.42
7 Total compr.henslv• Incom tor th• prod(51)
34.51
38,12
147.05
61.53
266.03
3!6.62
75,49
31,07
118.37*
146.88
281.75
388.20
8Reseres/olher equtty H shown In lhe Audted Balance Sheet of the previous
year
~~I~~
2.494.11
2,529.70
9Pald-o eauttv shara caotal If ace value ol Rs 10/- Mr enutv sharal
187.68
187H
187.l!
187-&B
187.l8
187.68
187.68
187.68
187.68
18718
187.68
187.68
10 Eamings pr equfy share (Face value of Rs. 101- pr equiy shara)
(a) BaSIC (m Rs)
2 19
!
2 27
1
7 79
6 10
14 05
18 91
3 04
1.15
5 64
7 16
13.53
16 96
(b) DIiuted(in Rs l
2 19
2 27
7 79
6 10
14.05
18 91
3 04
1 15
5,84
7 16
1353
18 96*		 19
(R$, l mOUon, excen1 Of share d..al
ltRuu'.

C,n,olkfated Rc,ulls

Ntne months Ended
Year ended

ou:ntrondd
Nine moplhS Ended
Year ended
Dcembr 31,
March 31, 201
2018
Unaudied
Audited		 9
Decembr 31,
2019
Unaudited
September 30,
2019
Unaudited		 Dcembr 31,
2018
Unaudited		 Oecembr 31,
Decembr 31,
March 31, 2019
2019
2018
Unaudited
Unaudited
Audited
1 29561
1 467 89
3,880 87
4,699 20
6,257 07
1,592 49
40 41
48 17
116 36
163 72
215 08
33 78
17 97
71 11
45 53
14766
162 37
1812
1.353.99
1.53"97
4.042.76
5.010.58
6,634.52
1.64.39
608 40
785 75
1,788 68
2,457 81
3,234 03
658 97
92 16
60 9
198 72
230 59
318 20
45 50
(10 93)
(20 99)
41 39
(42 99)
(90 46)
2,11
257 43
252 63
76249
719 07
1,005 41
387 99
60 32
49 78
148 89
13719
184 10
65 24
66 35
68 IS
20398
202 34
270 80
105 81
232 38
20 85
736.14
898 23
1,183 2
291 33
1 306.11
U16.93
3.878.29
•,&02.24
6,103.30
1,556.95
 7
1,592 49
8
33 78
7
1812
2
1.64.39		 1,770 55
42 27
22 69
1.635.51		 1,956 54
53 98
78 01
2.088.53		 5,489 61
6,543 11
8,896 50
125 45
185 57
240 72
6912
160 57
169 59
5,684.18
6.889.25
9.306,81
658 97
45 50
2,11
387 99
65 24
105 81
291 33
1,556.95		 770.76
92 16
(11 50)
459 55
87.23
106 02
311 47
1,815.69		 1,009 06
60 95
(81 46)
45329
86 49
103.8
328,87
1.960.78
127.75		 2,382 73
3,20845
4,334 60
198 72
230.59
323 72
19 25
(105 37)
(165 71)
1,380 36
1,365 so
1,921.71
227 91
230.80
294 81
321,89
310.5
42191
957 91
1,219 81
1,590 50
5,488.77
6,480.23
8.721.54
195.41
409,0Z
585.27
I 47.88
170.0
 164.47 408.34 531.22 87.44
26 26
694
(2 75)
30.45		 19.82
12 60
(14 32)

(1,721

~~•~~TH expense
•ICurrtnl lax
b)Oohmod lar crot
c)Eorhor yoa� tnx 1d1ustment (nel)
Total tax exonse

 20 7
6 8
(2 7
24.6		 1
9
5)
5
15 2
19 7
(998)
41
-
5.24
23.8
42.64
146.2
0
0
0		 54 01
(119)
(2 75)
50.07		 143 30

1 35

14.65		 166 00
10.38
176.38
35.8
2 66

(0 88)
1.78
 21,6

(3,5
-

18.1		 5
0)
5		 64 97
16967
176 56

(127)
(14 49)
52 93
(2,75)
-
60.95
155.18
22949

5 Profit for th•perod(3-)
0Other compr.henslv• Incom
(i)ltem! Iha! w11 no!brecla�fed lo profi or loM
MIncome lex relatng lo tems Iha! Wii nol b reclauifHM lo p(Ofil or los
C•l\lem, lhal WIii b reclas lo prnrr or los
(i)Income lax relabng lo lems that wllbreclaSfl& to prof and loss
Tot. other comprhenstve Incom
7 Total compr.henslv• Incom tor th• prod(51)
8Reseres/olher equtty H shown In lhe Audted Balance Sheet of the previou
year

 41.1 3 4 114.40
1 91
(048)
(72 57)
18 27
(52.871
263.69
3 54

(1 20)


2		 56.99 Z1.5 109.6 0 134.46
253.84		 355.78
0 7
(0 1
(9 5
2'
(6.5
 6
6)
6)
1
*5*		 0 44

(0 10

2 85
(7 71

(4.52
1 2
)
(0 4

1
)
)
0.8		 1
0)
1		 0 76

(0.15)
15 67
2 22
18.50
0 44

(0.10)
16 41
(7 22)
9.53		 1 2

(0 4
(123,7

(5.0
[127.9		 1
0)
8)
0)
7)		 1 91
3 54

(047)
(1 20)

(7 29)
35 17

16 27
(9,60)
1UZ
27.91
146.88
281.75
 2 66

(088)
35 70
(5 06)
32.42
388.20
he previou

 34.5
s
187.6		 1 38,12
147.0
 5
 61.53 266.03
 3!6.62 75,49 31,07
187.68		 118.3 *7*
8
 187H
 ~~I~~

**187.l **
2.494.
11		 187.68 2,529.70
9Pald-o eauttv shara caotal If ace value ol Rs 10/- Mr enutv shar
10 Eamings pr equfy share (Face value of Rs. 101- pr equiy shara)
(a) BaSIC (m Rs)
(b) DIiuted(in Rs l		 al
 ! 187-&B **187.l8 ** 187.
18
18		 68
91
91		 187.6 8 18718
187.6		 8 187.68
2 1
2 1		 9
!
2 27
9
2 27
1
7 7

7 7		 9
9		 6 10
6 10		 14 05
14.05		 3 04
3 04		 1.15
1 15		 5 6
**5,8 **		 4
4
7 16
13.5
7 16
135		 3
3		 16 96
18 96

==> picture [120 x 91] intentionally omitted <==

NOIH!

The above Un-audited (Standalone and Con10Mdafed) Flnandal Rnultl haw be n reviewed by the Audil Commlllee at their meeting hekt on February 07 ,2020 and thereafter approved by the Board of Directors In their meeting held on February 07 ,2020

2 Tho I.Jmhd Rtvltw hn betn can1od oul by ll1e Slotuto,y A4ldllon of ll1e Compony.

The Board of Oncto,. have approwd an lntartm OMdend of Ra 1 SQ.I- (Rupen One and Fifty Pue Only) per equity share of Ra 10/- (Rupe s Ten Onty) each on the paid-up share capital of the Company In this regard, February 22, 2020 Is fixed as record date for tile purpose of determination of Net of lhareholdera entllted to, IUCh dMdend.

  • , Th• mnd lone operationa of the company falls under manufacturing of ge■ra and trllntmiak>na. whtc II conadered to be the onty reportable segment by the management For consolldated operations, the Group has three operating segments (India, Candi-:1 and Others), which have boen dettmwnttd 111n OftOV!'@la.e

  • The ftgure In the COOIOMdeted llnandll resultl k>f the corrnpo quarter and nen month& ended December 31.2018 hea be n approved by the company's board of directors, but have not be n subjeded to audit or review E- 1 Aptll 2018, ll1e Group tdopl9d Ind AS 119 •-· opplltd h> • I contrKa haw,g It- componenta t-.g on Aptll 2019 using lho to•-""" 111< !hoCI, Acoo1d,ngly, UIO GrO!Jp hn n<>I rtSlallld comporaW• lnfonnalion The G1oup hes measu,od lllo loaH llbl Il mod-

  • prtMnt value of ramelnAng ... payrnenea dlK:ounlld � 1M WHmenlll borrowtng rate• the date of lnlla epplk:atlon and Right of Use asaet II mo�OG 1t ;rn 1moun: OQuot lo �ODM �Dbdlf'V On U,o �o of M11 :ip�n. lho DcfoPoQn of new m.�ord ce.:s.u� d"I roc.ognltion or rtght ol u!le INR 87 04,... Ind •-lollay llNR 1704,... tn raped of..__ wer ctaaMed • � ...., 1ppty1,Q Ind AS 17, an emoune of INR ,e 41 Mn ha bNn � from property, plant end equfpment to rtght-okl9e assets An amount of INR 2 04 Mn has be n reclasstfled from other current financial liabilities to lease 6:oblft y c:utffll1 Ind on•mounC ol lNR 17 e1,... , , - fn>m �- non-cu'"'"1,., _ lobllly- � �lo lho - - � �. 2018 - on 8-ll>tf 20, 2018, OOfJ)Olm - , given on opllon h> 1Pl)ly a lower lnoome lax rato v.1111 effect �om Aptl 01, 2019, subject to certain conditions specified therein The Tax expenses fof lhe_ond ___ � ,,.20,, __ pn,,ldtd fof olreducedblx-.

I Fu ,.. ol lhe p,-. pt11om ,- _, !9-Vlouptd/ �- -- -· to COITllpOnd- lhe current ptriod' grouping

For �nd on bel.Qtt o1 Bo.:,rd or Directors The Hi-Tech Gea� Limited

Pltct:-Dtlll

D•t.a Fit.twu1uy OT &20l0.

j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22		 j ,
THE HI-TECH GEARS LIMITED
Regd Ofice Plol No 24 - 2, IMT Mnsar, Seo-7, Gururam12205. Haryan
COale Ofic M1llemium Plaza Tor-B, Sushanl Lo-l,Seo-27 Guga-1220, Haryana
CIN l913HR198PLC01555, Webs1le w lhehllecars c; e-il i s laal@ ileears com,
Ph No 0124-71510 Fax 0124-28
Segmnt wse revenue and reults for te quarer and nin ms ende Dc 31, 219
(Rs. In mllion. except per share data
CidateR01ull1
Quarer ended
Nine monts Ended
Year ended
31 Decemr,
3 Septemr,
31 Dcemr,
31 Dcembr,
31 December,
31 Manh, 2019
Parcular
2019
219
2018
219
2018
Unaudited
Unauited
Unaudite
Unaudited
Unaudited
Audited
ISegmnt Revenue
a)
Inia
1,15 45
1,33 03
1,515 87
3,997 23
4,82 92
6,472 15
b)
Canada
421 9
4194
473 2
1,465 81
1,769 07
2,516 5
c)
Olhers
603
76 82
526
207 10
167 42
226 08
Less: lnlercompany segmenl revenue
(16 15)
(19 48)
(31 25)
(50)
(70 73)
(77 55)
Total Revenue
1,828.27
1,812.81
2,010.52
5,815.0
8,728.88
9,137.22
31 Decemr,
3 Septemr,
2019
219
Unaudited
Unauited
1,15 45
1,33 03
421 9
4194
603
76 82
(16 15)
(19 48)
1,828.27
1,812.81
ISegmnt Revenue
a)
Inia
b)
Canada
c)
Olhers
Less: lnlercompany segmenl revenue
Total Revenue		 1,515 87
473 2
526

(31 25)
2,010.52		 3,997 23
1,465 81
207 10

(50)
5,815.0		 4,82
1,769
167

(70
8,728.		 92
6,472 15
07
2,516 5
42
226 08
73)
(77 55)
88
9,137.22
2 Segment Results
a)
India
b)
Canada
c)
Olhers
Total		 928
107 4
3 18
(25 3)
17 22
24 97
152.88
107.05
65 24
87 23
.
.
-
87.4
19.82		 149 0

5 89
6 26
214.24		 3016
74 27
48 89
423.31		 BO
637 76
41
222 9
61
193
82
880.08
80
29 81
-
-
02
585.27
Less:
Financ csts
Excplional ilems
Olher unallocable expndilure
TotalproJII before tax		 65 24
.
87.4
Segment Asset
a)
India
b)
Canada
C)
Olher
Total		 4,4106
3,397 35
231 32
8,039.33		 4,706
3,126 48
57 79
8,423.93		 4,57 53
3,480 89
239 40
8,307.82		 4,4106
3,397 35
231.32
8,039.33		 4,587 53
4,772 32
3,480 89
3,33 20
239 40
57 50
8,307.82
8,676.02
3,511 38
3,643 58
2,121 76
1,954 01
29.83
361 05
5,662.87
5,858.64		 53
89
40
82		 4,772 32
3,33 20
57 50
8,676.02
Segment llablllty
a)
India
b)
Canada
C)
Olher
Total		 3,261.58
1,922.93
35 83
5,220.34		 3,59 8
1,733.95
351.3
5,635.17		 3,511 38
2,121.76
29.83
5,662.97		 3,261 58
1,922 93
35 83
5,220.3

==> picture [114 x 93] intentionally omitted <==

O.P. DADU & CO. CHARTERED ACCOUNTANTS

24/4834, ANSARI ROAD, DARYA GANJ, NEW DELHl-110002 PH.: 23275482, 23253645

Independent Auditors' Review Report on Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015

Review Report to The Board of Directors of The Hi-Tech Gears Limited

  1. We have reviewed the accompanying statement of unaudited standalone financial results of The Hi-Tech Gears Limited ("the Company")for the quarter and nine months ended 31[st] December, 2019 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended.

  2. This statement ,which is the responsibility of the Company's Management and approved ' by the Board of Directors, has been i;irepared 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 issue a report on the statement based on our review.

  3. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, 'Review 9f 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 is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

  4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results,

' prepared in accordance with applicable Indian Accounting Standards (Ind AS) prescribed

, under Section 133 of the Companies Act, 2013, read with relevant rules issued there under and other recognized accounting practices and policies 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.

==> picture [416 x 129] intentionally omitted <==

----- Start of picture text -----

For O.P. DADU & CO.
Chartered Accountants
FR
co' ["-] ·
' ·
,;.; \
. s- !
Place: New Delhi -./
'/
Dated:? [1h] February, 2020
·--
UDIN: .20 094 )..O'). t,AflAAN.3180
----- End of picture text -----

O.P. DADU & CO. CHARTERED ACCOUNTANTS

24/4834, ANSARI ROAD, DARYAGANJ, NEW DELHl-110002 PH.: 23275482, 23253645

Independent Auditors' Review Report on Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 I

Review Report to The Board of Directors of The Hi-Tech Gears Limited

  1. We have reviewed the accompanying statement of unaudited consolidated financial results of The Hi-Tech Gears Limited (hereinafter referred to as the "Holding Company")and its subsidiary companies (The Holding Company and its subsidiary companies together referred to as "the Group")for the quarter and nine months ended 31[st] December, 2019 ("the Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended. Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 31[st ] December, 2018 and the corresponding period from 1[st] April, 2018 to 31[st ] December, 2018 as reported in these financial results have been approved by the Holding Company's Board of Directors, but

' have not been subjected to review since there was no mandatory requirement to submit quarterly consolidated financial results prior to 1 s[t] April, 2019. ··

  1. This statement, which is the responsibility of the Holding Company's Management and approved by the Holding 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 there under and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the statement based on our review.

  2. 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 persons responsible for financial and accounting matters, and applying analytical and other review

  3. procedures. A review is substantially less in scope than an audit conducted in accordance

  4. ' with Standards on Auditing and consequently does not enable us to obtain assurance that

  5. , 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.

==> picture [80 x 72] intentionally omitted <==

==> picture [13 x 54] intentionally omitted <==

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

S. No. Name ofthe Entity Relationship
1 2545887 Ontario Inc., Canada Wholly Owned Subsidiary
2 Neo-Tech Smart Solutions Inc., Canada
Wholly Owned Subsidiary
3 Neo-Tech Auto Systemz Inc., USA
Wholly Owned Subsidiary
4 The Hi-Tech Gears Canada Inc. Step Down Subsidiary
5 2504584 Ontario Inc., Canada
StepDownSubsidiary
6 2323532 Ontario Inc., Canada Step Down Subsidiary
7 Teutech HoldingCorp., USA StepDown Subsidiary
8 T eutech LeasingCorp., USA StepDown Subsidiary
9 TeutechLLC, USA StepDown Subsidiary
  1. I Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the interim financial statement/ financial information/

' financial result as furnished to us by the management 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 applicable Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued there under and other recognized accounting practices and policies generally accepted in India, has not disclosed the informati6n 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.

  1. The unaudited consolidated financial results include the interim financial result and other financial information of three wholly owned subsidiary companies and six step down subsidiary companies whose interim financial result and other financial information reflects total revenue of Rs.473.80 million and Rs. 1674.56 million for the quarter and nine months ended 31 s[t] December, 2019 respectively, total net profit after tax of Rs.16.18 million and Rs.20.05 million for the quarter and nine months ended 31[s1] December, 2019 respectively

' and total comprehensive income of Rs. 41.23 million and Rs. 85.34 million for the quarter and nine months ended 31[s1] December, 2019 respectively, as considered in the statement. These interim financial result and other financial information have been furnished to us by the management of the Holding Company and our conclusion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on such unaudited interim financial result and other financial information.

==> picture [10 x 33] intentionally omitted <==

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

For O.P. DADU & CO. Chartered Accountants FR

==> picture [9 x 77] intentionally omitted <==

Place: New Delhi ' Dated: y[lh] February, 2020

UDIN: 20094202--AAAAA01'S[lt3 ]

==> picture [78 x 74] intentionally omitted <==

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