Time Technoplast Limited — Interim / Quarterly Report 2020

Aug 14, 2019

3

August 13, 2019

To. Rotunda Building Plot No. 01, Block G, Fort, Mumbai -

BSE Limited National StockExchange ofIndia Ltd. lstFloor, New Trading Ring Exchange Plaza, 5th Floor, » 1 P.]._Tower'_s, Dalal Street, ,Bandra - Ku'rla Complex, 400 001 'Bandra (East), Mumbai — 400 '051 } Scrip Code : 532856 Symbol: TIMETECHNO

Meeting Commencement Time	12:00 Noon
Meeting Conclusion Time	'5Rm0'1".

Dear Sir / Madam,

Su :Outco'me of ard Meetin h '1 u u '2

Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform you that the Board ofDirectors ofTime Technoplast Limited at its meetingheld on August 13, 2101-9, inter-aha, transacted and approved the following businesses:

• 1. a) Considered and approved Un-audited (Standalone 8:. Consolidated] Financial Results for the first Quarter ended 3006:2019 (Annexure — A).
  • b) Considered Limited Review Report (Standalone & Consolidated] dated 13.08.2019, issued by the joint statutory auditors i.e. M/s. Shah 8: Tapan'a and M/s. Shah Khand'eIWal Jain & Associates, Chartered Accountants, forthe period ended 30:}: June 2019., (Annexure - B).
• 1. Annual General Meeting:
  • a) Decided the date of forthcoming Annual General Meeting scheduled to be held on Saturday, 28th September, 2019. .
  • b) Decided the Book closure date from September 21, 2019 to September 28, 2019 {both days inclusive), for the purposes ofthe Annual General Meeting and payment ofdividend to be declared thereat.

You are requested to takenote ofthe'same.

Thanking you,

I .. i u

l 4 MARME ARA Uparty Secretary Compliance Officer

TIME TECHNDPLAST LTD.

Bringing Polymers To Life CW : L27203DD1989PL0003240

Hegd. Office : 101. 1st Floor, Cenfi'e Point, Somnalh Damen Road, Somnath. Dabhel. Nani Human. Damon - 396210

Corp. 0ft: 55, Covporale Avenue, 2nd Floofiald VlharRuad.Andheri (East). Mumbal v400'072lli01ATel. :91227111 999914211 9999 Fax :91-2232357 5672 E-mail 1 il§lflne19thmpiastmm Wabsile: mmemnqplasteom '4 Bangalore" (080) 26608056/61 Baroda: (0265) 2320668 Chandigarh : (0172) 2546542 Chennai (044) 45010019 I 29' Delhi I (0120) 4393820l21 Hyderabad':'(040) 23410003

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Regd. Office : 101, 15: Floor, Centre Point, Somnath Daman Road, Somnath, Dabhel, Nani Daman, Daman (U.'l'.) 396 210 Corp. Office : 55, Corporate Avenue, Saki Vihar Road, Andheri (E), Mumbai - 400 072 CIN : L272030D1989PLC003240 Webslte:www.tlmetechnoplast.com Email: investors@timetechnoplastcom

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2019

	(iinLakhsl
Sr.	Particulars		Year Ended
No.		30.06.2019	uarter Ended31.03.2019	30.06.2018	31.03.2019
		(Unaudited)	Refer Note 4	(Unaudited)	(Audits!)—
1	Income
3	Revenue from Operations	49,850.91	62,713.47	45,021.99	211,663.64
b	Other Income	-	7.80	-	212.56
	Total Income ( a+b )	49,850.91	62,721.27	45 021.99	211 876.20
2	Expenditure
	a Cost of Materials Consumed	35,699.94	45,772.09	31,920.58	154,482.46
	b Change in inventories of finished goods&, work-in-progress	(190.61)	(877.78)	(198.03)	(1,995.81)
	c Employees Benefits Expenses	2,160.60	2,200.67	1,894.81	8,227.69
d	Finance Costs ( Net)	1,500.13	1,557.04	1,424.17	5,956.80
	e Depreciation	2,381.80	2,155.20	2,342.28	9,009.60
	f Other Expenditure	4,727.29	5,153.12	4,197.71	18,909.88
	Total Expenditure	46,379.15	55,960.34	41,581.52	194,590.62
3	Profit before Exceptional Items & tax (1-2)	3,471.76	6,760.93	3,440.47	17,235.53
4	Exceptional Items	-	-	-	-
5	Profit Before Tax (3+4)	3,471.76	6,760.93	3,440.47	17,285.58
5	Tax Expenses	1,016.50	1,770.01	996.54	4,662.59
7	Profit After Tax (5-6)	2,455.26	4,990.92	2,443.93	12 622.99
8	Other Comprehensive Income (Netof Tax)
	Items that will not. be reclassified subsequentlyto Profit or Loss
a	Remeasurement of net defined benefit plan	-	15.81	-	15.31
	Total Other comprehensive Income	-	15.81	-	15-81
9	Total Comprehensive Income (7+8)	2,455.26	5,006.73	2,443.93	12,638.80
10	iPaid —up equity share capital (Face Value of1/-)	2,261.47	2,261.47	2,261.47	2,261.47
11	Other Equity (excluding Revaluation Reserve)				133,737.04
12	Earnings Per Share ( EPS)
a	Earning Per Share- Basic	1.09	2.21	1.08	5-53
b	Earning Per Share- Diluted	1.08	2.21	1.08	5.58

Regd. Office : 101, 151: Floor, Centre Point, Somnath Daman Road, Somnath, Dabhel, Nani Daman, Daman (U.'l'.) 396 210 Corp. Office : 55, Corporate Avenue, Saki Vihar Road, Andheri (E), Mumbai - 400 072

CIN : L27203DD1989PLCOO3240 Website:www.timetechnoplast.com Email: investors@timetechnoplastcom STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2019

			iIn Lakhs)(
	Sr. No. Particulars		Quarter Ended
		30.06.2019	31.03.2019	30.06.2018	Year Ended31.03.2019
		(Unaudited)	Refer Note 4	(Unaudited)	(Audited)
Part I
1	Income
3	Revenue from Operations	86,814.33	108,206.08	78,147.21	356,373.73
	b Other Income	29.10	237.43	47.70	322.33
	Total income (a+b)	86,843.43	108,443.51	78,194.91	356,696.06
2	Expenditure :-
a	Cost of Materials Consumed	60,703.38	80,465.41	53,610.27	256,102.24
b	Change in inventories of finished goods 81, work-in-progress	(210.56)	(3,898.08)	335.42	(4,973.07)
c	Employees Benefits Expenses	3,965.92	4,975.71	3,686.43	16,392.30
d	Finance Costs I Net )	2,750.30	2,741.97	2,269.49	9,864.77
2	Depreciation	3,938.39	3,843.89	3,923.50	14,614.63
f	Other Expenditure	9,719.12	9,702.31	8,474.42	36,502.05
	Total Expenditure	80,867.05	97 831.21	72,299.63	328,502.92
3	Profit before Exceptional Items & tax (1-2)	5,976.38	10,612.30	5,895.28	28,193.14
4	Exceptional Items	-	-	-	-
5	Profit Before Tax (3+4)	5,976.38	10,612.30	5,895.28	28,193.14
6	Tax Expenses	1,510.80	3,029.79	1,492.80	7,341.82
7	Net Profit After Tax (5-6)	4,465.58	7,582.51	4,402.48	20,851.32
8	Extraordinary Item (Net of TaxExpenses)	'	~	'	'
9	Net Profit For the period(7 + 8)	4,465.58	7,582.51	4,402.48	20,851.32
10	other ComprehensiveIncome (Net of Tax)		369.45		369.45
11	Total Comprehensive Income (9+10)	4,465.58	7,951.96	4,402.48	21 220.77
12	Net Profit attributable to
	Owners	4,379.08	7,368.11	4,329.57	20,273.72
	Non Controlling Interests	86.50	214.40	72.91	577.60
	Other Comprehensive Income attributable to				368.25
	Owners	-	368.25	—-
	Non Controlling Interests		1.20		1.20
	Total Comprehensive Income attributable to
	Owners	4,379.08	7,736.36	4,329.57	20,641.97
	Non Controlling Interests	86.50	215.60	72.91	578.80
13	iPaid -up equity share capital (Face Value of1/-)	2,261.47	2,261.47	2,261.47	2,261.47
14	Other Equity (excluding Revaluation Reserve)				164,297.89
15	Earnings Per Share ( EPS)
a	Basic 8L Diluted EPS Before Exceptional & Extraordinary	1.94	3.26	1.91	8.96
b	Basic & Diluted EPS After Exceptional 8L Extraordinary	1.93	3.26	1.91	8.96

					(र in Lakhs)
	CONSOLIDATED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
	Particulars		Year Ended
		30.06.2019	31.03.2019	30.06.2018	31.03.2019
		(Unaudited)	Refer Note 4	(Unaudited)	(Audited)
1	Segment Revenue
	(a) Polymer Products	61.583.13	78,152.38	55,516.01	252,703.04
	(b) Composite Products	25,231.20	30,053.70	22,631.20	103,670.69
	Total	86,814.33	108,206.08	78,147.21	356,373.73
	Less : Inter Segment Revenue
	Net Sales/Income from operations	86,814.33	108,206.08	78,147.21	356,373.73
$\mathbf{2}$	Segment Results
	Profit before tax and interest from each segment
	(a) Polymer Products	6.230.68	9,333.41	5,829.31	26,655.10
	(b) Composite Products	2,466.90	3,783.43	2,287.76	11,080.48
	Total	8.697.58	13,116.84	8,117.07	37,735.58
	Less:
	i) Interest	2,750.30	2,741.97	2,269.49	9.864.77
	Add
	li) Other Un-allocable Income net off	29.10	237.43	47.70	322.33
	Total Profit Before Tax	5,976.38	10,612.30	5,895.28	28,193.14
$\mathbf{3}$	Segment Assets
	(a) Polymer Products	274,469.66	279,388.49	250,469.88	279,388.49
	(b) Composite Products	43,520.24	40,587.59	38,342.61	40,587.59
	(c) Unallocable
	Total Segment Assets	317,989.90	319,976.08	288,812.49	319,976.08
$\overline{\mathbf{4}}$	Segment Liabilities
	(a) Polymer Products	45,551,27	52,413.47	44,164.00	52,413.47
	(b) Composite Products	5,021.78	4,728.75	4,842.60	4,728.75
	(c) Unallocable
	Total Segment Liabilities	50,573.05	57,142.22	49,006.60	57,142.22

NOTES :-

1 The above results. were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on 13th August, 2019. Limited Review of the same has been carried out by the statutory auditors of the Company in terms of Regulation 33 of SEBi (Listing and Other Disclosure Requirements) Regulations, 2015.

2 The Company has adopted Ind A5 116 "Leases" effective lst April 2019 , using modified retrospective method of transition. Adoption of this standard did not have a material effect on unaudited financial results for the quarter ended 30 June ,2019

3 The standalone results are available at Company's website : www.timetechnop|ast.com or www.bseindia.com or www.nseindia.com. Key Standalone Financial information is given below:

				(天 in Lakhs)
Particulars		Quarter Ended
	30.06.2019	31.03.2019	30.06.2018	31.03.2019
	(Unaudited)	Refer Note 4	(Unaudited)	(Audited)
Net Sales/Income from operations	49.850.91	62.713.47	45.021.99	211.663.64
IProfit before Tax	3.471.76	6.760.93	3.440.47	17,285.58
Net Profit from Ordinary Activities after tax	2.455.26	4.990.92	2.443.93	12,622.99
Profit after Tax after extraordinary items	2.455.26	4.990.92	2.443.93	12,622.99

4 The figures of the quarter ended 3lst March 2019 are balancing figures between audited figures for the full previous financiai year and unaudited published year to date figures upto the third quarter of previous year.

5 Figures of previous periods have been regrouped / rearranged wherever considered necessary.

Date : August 13, 2019 Place: Mumbai

Anil lain Managing Director DIN No. 00183364

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Limited Review Report

To The Board of Directors at Time Technoplast Limited

We have) reviewed the accompanying staten'iunt of Standalone: unaudited financial resuits; oi" Time Tachnopiaxst Limited ("the Company") for the quarter ended 30 June 2019 ("the Statement") attached herewith, Doing submitted by the Company pursuant to the requirements of Regulation 33 or the SEBI (Listing Obligations and Disclosure Requirements) anzilnrinns. T2015 ("titling population") an amended ("the Regulation) maid with SE8: Circular No. CIR/CFDl/44/2010 dated March 29, 2019.

The propm'oiion of the, Statement in accordance with tho rocognitlon and measurement principles laid clown in Indian Accounting Standard 34 interim Flnanciai Reporting (Ind AS 34) specified under section 133 of the Companies Act, 2013 read with rule 3 of the Companies (inclian Accounting Standards) Rules 2015 as amended is the responsibility of the Company's management and has been approved by the Board of Directors of the company Our responsibility is to issue a report on the Statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review 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 or 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.

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 the recognition and _ l measurement principles laid down in indian Accounting standard 34, Interim Financial Reporting (Ind As 34) specified under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognised accounting 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, as amended, including . the manner in which it is to be disclosed, or that it contains any material misstatement.

For Shah «Ex Tapariai For Shah Khandeiwal Jain & Associates Chartered Accountants Chartered Accountants Firm R

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'\s\t:'atio No: 109463"! Firm Registration No: 1427mm! /l c/(LW

Fipfija Ashish Khandelwal Paitner Partner Membership Number: 103840 Membership Number: 049278 UDIN No: 19103840AAAAIY9469 UDIN No: 19049278AAAADF2064- Date; i3 August 2019 Date: 1.3 August 2019 Place of Signature: Mumbai Place of Signature: Mumbai .

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Shah oi: 'i 'apnriai Shah Khandolwaijain Kinssmtiuiiis;

Charmed Accouuumi'li (Elimim'ed Aux >1 humus 'Vi, Rn'rliilir iiuslnt'si Day y Road. Nl'nr R'H)

Limited Review Report

To the Board of Directors of "time Touhnopinat Limited

We have rovinwod the accompanying statement of Consolidated unaudited financial results of 'i'imo technopiast Limited ("the Parent") and its~ subsidiaries and joint ventures (the parents and its subsidiaiy together referred as "the Group") for the quarter ended 30 June, 2019 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosuro Requirements) Regulations, 2015 as amended ("Listing Rnguiation") road with SCDI Cilouloi' No. CIR/orm/Mrzom dated Mahdi 29, 2019.

The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (Ind AS 34) specified under section 133 of the Companies Act, 2013 read with rule 3 of the Companies (Indian Accounting StandalUs) Rules. 2015 as amended is the responsibility of the Company's management and has been approved by the Board of Directors of the company. Our responsibility is to express a conclusion on the Statement based on our levlew,

We conducted our review of the Statement in accordance with the Standard on Review 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 is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides loss assurance than an audit, We have not performed an audit and, accordingly, we do not express an audit opinion.

We also performed procedures In accordance with the SE31 Circular CIR/CFD/CMDI/44/2019 dated 29 March 2019 issued by the SE81 under Regulation 33 (8) of the SE81 (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), to the extent applicable.

Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 30 June 2018 and previous quaiter ended 31 March 2019 as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review since the requirement of submission of quarterly consolidated financial results has become mandatory only from 1 April 2019.

The Statement includes the results of the following entities List of Subsidiaries

TPL. Piastoch Limited, NED Energy Limited, Elan Incorporatod er, Kompozit Praha S R 0,: ikon Investmont Holdings Limited, GNXT Investment Holding PTE Limited, Schocller Aliiber'c Time Holding PTE Limited

List of Joint Ventures

Time Mauser Industries Private Limited

Page 1 of 2

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Based on our review conducted as above and based on the consideration of the reports oi" other aurii'm on the unaudited separate quarterly financial results and on other unaudited (in: oi inrori'naitiwi of subsidiaries and ioliii: venture, nothing has come in our attention that causes us izo believe that the accompanying Statement prepared in accordance with the rocogiiité" ' and measurement principles laid down in Indian /<':oounting standard 34 ,interim Financial Ranciting (1nd As 34) suecified under Section "133 of the Companies Act, 2613 read with relevant rules issued tlwrounder and other recognised accounting 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, as modified by Circular No. CIR/CFD/MC/Gi2/2016 dated 5'" July, 2016 including the manner in which it is to be disclosed, or that it contains any material misstatement.

We did not review the financial results and other financial information considered in the preparation of the Statement in respect of One subsidiary, whose financial result reflect total revenue oi' Rs.5,361.58 Laos and total profit of Rs.337.70 Lacs for the quarter ended 30 June, 2019. This financial result has been reviewed by other auditor whose report has been furnished to us by the management and our report on the statement, in so far as it relates to the amounts and disclosures included in respect of' this subsidiary is based solely on the report of the other auditor.

We did not review the financiai results and other financial information considered in the preparation of the Statement, in respect of six subsidiaries, whose financial results reflect total revenue of Rs.31,330.62 Laos and total profit of Rs.1,666i02 Lacs for the quarter ended 30 June, 2019, These financial results and other financial information have been certified by the management and have not been reviewed by other auditors.

The statement also includes the Group's share of net profit after tax of Rs. 7.84 Lacs for the quarter ended 30 June, 2019, in respect of one joint venture, whose financial result and other information have not been reviewed by other auditor and are considered in the preparation of the Statement based on their interim financial results / information which are certified by the management, Our report, in so far as it relates to the affairs of such subsidiaries and joint venture, is based solely on the management accounts of these entities

Our report on the statement Is not modified in respect of this matter.

For Shah 81 Taparia ' Chartered Accountants Chartered Accountants Firm Re

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For Shah Khandelwal Jain 84 Associates tuition 0: 109463"! Firm Registration No: 142740"!

UDIN No: 19103840AAAM26703 UDIN No: 19049278AAAA061070

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