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Time Technoplast Limited Interim / Quarterly Report 2021
61528_rns_2020-11-10_7df0db61-4e03-44a7-a86e-dee11dfc2b70.pdf
Interim / Quarterly Report
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November 10, 2020
To,
BSE Limited National Stock Exchange of India Ltd Ist Floor, New Trading Ring Exchange Plaza, 5th Floor, Rotunda Building Plot No. C-1, Block G, PJ. Towers, Dalal Street, Bandra - Kurla Complex, Fort, Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 532856 Symbol: TIMETECHNO
| Meeting Commencement Time | 12:00 Noon | |
|---|---|---|
| Meeting Conclusion Time | O3:SoPam, |
Dear Sir/Madam,
Sub: Outcome of Board Meeting held on November 10, 2020
Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of Time Technoplast Limited at its meeting held on November 10, 2020, inter-alia, transacted and approved the following businesses:
- a. Considered and approved Unaudited (Standalone & Consolidated) Financial Results for the Quarter and Half Year ended 30th September, 2020 (Annexure A).
- b. Considered Limited Review Report (Standalone & Consolidated) dated November 10, 2020, issued by the joint statutory auditors, M/s. Shah & Taparia and M/s. Shah Khandelwal Jain & Associates, Chartered Accountants, for the period ended 30th September, 2020 (Annexure B).
You are requested to take note of the same.
Thanking you,
Yours Faithfully
For Time Technoplast Limited pe"
Bharat Vageria Whole Time Director DIN 00183629
TIME TECHNOPLAST LTD.
Bringing Polymers To Life
CIN : L27203DD1989PLC003240 Regd. Office : 101, 1st Floor, Centre Point, Somnath Daman Road, Somnath, Dabhel, Nani Daman, Daman - 396210 ; orp Off: 5, Corporate Avenue, 2nd Flor, Saki Vnar Road, Aner (East), Mumbai - 400072 INDIA Tel: 91-22-7111 9989/4211 $999 Fax: 1-2-2857 5672 E-nalti@timetechnopast com Wlbst: wn tmetechnoplstcom Bangalore : (080) 26608056/61 Baroda : (0265) 2320668. Chandigarh : (0172) 2646542 Chennai (044) 4501 0019/29 Delhi (0120) 4393820721 Hyderabad (040) 23410003
$\frac{1}{2}$ $\triangle \equiv 1$ Bringing Polymers To Life TIME TECHNOPL N.A.
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER & HALF YEAR ENDED 30 SEPTEMBER 2020 Regd. Office: 101, 1st Floor, Centre Point, Somnath Daman Road, Somnath, Dabhel, Nani Daman, Daman (U.T.) 396 210 CIN: L27203DD1989PLC003240 Website:www.timetechnoplast.com Email: [email protected] Corp. Office: 55, Corporate Avenue, Saki Vihar Road, Andheri (E), Mumbai - 400 072
| (₹in Lakhs) | |||||||
|---|---|---|---|---|---|---|---|
| Sr. | Particulars | Quarter Ended | Half Year Ended | Year Ended | |||
| δ. | 30.09.2020 | 30.06.2020 | 30.09.2019 | 30.09.2020 | 30.09.2019 | 31.03.2020 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| 1 | Income | ||||||
| a | Revenue from Operations | 41,905.47 | 23,313.12 | 51,978.39 | 65,218.59 | 101,829.30 | 214,091.00 |
| $\Omega$ | Other Income | 204.75 | 204.76 | 204.75 | 204.76 | 204.75 | |
| Total Income (a+b) | 42,110.22 | 23,313.12 | 52,183.16 | 65,423.34 | 102,034.07 | 214,295.75 | |
| 2 | Expenditure | ||||||
| Cost of Materials Consumed$\overline{\sigma}$ | 31,661.23 | 16,356.16 | 36,886.73 | 48,017.39 | 72,586.67 | 157,614.50 | |
| b Change in inventories of finished goods &, work-in-progress | (912.45) | 51.68 | 1,328.22 | (860.77) | 1,137.61 | (1,306.19) | |
| clEmployees Benefits Expenses | 2,137.05 | 1,907.49 | 2,193.96 | 4,044.54 | 4,354.56 | 8,969.79 | |
| d Finance Costs | 1,424.81 | 1,451.01 | 1,651.81 | 2,875.82 | 3,251.94 | 6,341.24 | |
| e Depreciation and amortisation expense | 2,317.97 | 2,281.54 | 2,414.78 | 4,599.51 | 4,796.58 | 9,471.73 | |
| flOther Expenses | 4,252.86 | 2,439.51 | 4.851.04 | 6,692.37 | 9,578.33 | 19,659.48 | |
| Total Expenditure | 40,881.47 | 24,487.39 | 49,326.55 | 65,368.86 | 95,705.70 | 200,750.55 | |
| $\mathsf{c}$ | Profit before Exceptional Items & tax (1-2) | 1,228.75 | (1, 174.27) | 2,856.61 | 54.48 | 6,328.37 | 13,545.20 |
| 4 | Exceptional Items | ||||||
| S | Profit Before Tax (3+4) | 1,228.75 | (1, 174.27) | 2,856.61 | 54.48 | 6,328.37 | 13,545.20 |
| 6 | Tax Expenses | 77.50 | 115.00 | 792.50 | 192.50 | 1,809.00 | 3,772.20 |
| Ļ | Profit After Tax (5-6) | 1,151.25 | (1,289.27) | 2,064.11 | (138.02) | 4,519.37 | 9,773.00 |
| $\infty$ | Other Comprehensive Income (Net of Tax) | ||||||
| tems that will not be reclassified subsequently to Profit or Loss | |||||||
| w | Remeasurement of net defined benefit plans | (24.46) | |||||
| Total Other comprehensive Income | $\blacksquare$ | (24.46) | |||||
| ō | Total Comprehensive Income (7+8) | 1,151.25 | (1, 289.27) | 2,064.11 | (138.02) | 4,519.37 | 9,748.54 |
| $\overline{a}$11 | Paid -up equity share capital (Face Value of ₹1/- each)Other Equity (excluding Revaluation Reserve) | 2,261.47 | 2,261.47 | 2,261.47 | 2,261.47 | 2,261.47 | 2,261.47141,291.58 |
| 12$\sigma$ | Earnings Per Share (EPS)-Earning Per Share-Basic | ||||||
| $\Omega$ | $\circ$Earning Per Share-Diluted | 0.510.51 | (0.57)(0.57) | 0.910.91 | (0.06)(0.06) | 2.002.00 | 4.324.31 |
| P |
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
| (₹ In Lakhs) | |||
|---|---|---|---|
| As at | As at | ||
| Sr | Particulars | 30.09.2020 | 31.03.2020 |
| No | (Unaudited) | (Audited) | |
| ASSETS | |||
| (1) | Non-Current Assets | ||
| (a) Property, Plant & Equipment | 97,512.26 | 99,681.54 | |
| (b) Capital Work-In-Progress | 3,868.11 | 4,052.60 | |
| (c) Right-of-Use-Assets | 2,815.61 | 3,061.50 | |
| (d) Intangible Assets | 22.62 | 27.39 | |
| (e) Financial Assets | |||
| Investments | 15,981.56 | 15,981.56 | |
| Others Financial Assets | 1,276.68 | 1,282.94 | |
| Total Non Current Assets | 121,476.84 | 124,087.52 | |
| (2) | Current Assets | ||
| (a) Inventories | 44,741.80 | 45,146.34 | |
| (b) Financial Assets | |||
| (i) Trade Receivables | 55,147.77 | 56,446.44 | |
| 989.58 | 2,336.40 | ||
| (ii) Cash & Cash Equivalents | 1,003.91 | ||
| (iii) Other Bank Balances | 1,046.18 | ||
| (c) Other Current Assets | |||
| (i) Balances with/Due from Government Authorities | 5,702.62 | 5,648.91 | |
| (ii) Other Current Assets | 18,696.08 | 19,311.34 | |
| Total Current Assets | 126,324.03 | 129,893.34 | |
| Total Assets | 247,800.87 | 253,980.87 | |
| Equity and Liabilities | |||
| Equity | |||
| (a) Equity Share Capital | 2,261.47 | 2,261.47 | |
| (b) Other Equity | 139,088.87 | 141,291.58 | |
| Equity Attributable to Shareholders | 141,350.34 | 143,553.05 | |
| Total Equity | 141,350.34 | 143,553.05 | |
| Liabilities | |||
| (1) | Non-Current Liabilities | ||
| (a) Financial Liabilities | |||
| Borrowings | 25,522.09 | 28,359.02 | |
| Lease Liabilities | 2,532.07 | 2,654.23 | |
| Deferred Tax Liabilities (Net) | 7,409.11 | 7,226.61 | |
| Total Non-Current Liabilities | 35,463.27 | 38,239.86 | |
| (2) | Current Liabilities | ||
| (a) Financial Liabilities | |||
| (i) Borrowings | 38,141.03 | 38,081.41 | |
| (ii) Trade Payables | |||
| 147.64 | 159.70 | ||
| Micro, Small & Medium Enterprises | 20,088.26 | 22,081.83 | |
| Other | |||
| (iii) Other Financial Liabilities | 7,701.03 | 5,436.05 | |
| (b) Other Current Liabilities | 4,459.68 | 3,215.90 | |
| (c) Provisions | 439.62 | 415.57 | |
| (d) Current Tax Liabilities (Net) | 10.00 | 2,797.50 | |
| Total Current Liabilities | 70,987.26 | 72,187.96 | |
| Total Equity and Liabilities$\infty$ | 247,800.87 | 253,980.87 |
STANDALONE CASH FLOW STATEMENT
| Sr | Half Year Ended30.09.2020 | Half Year Ended | |
|---|---|---|---|
| No | PARTICULARS | (Unaudited) | 30.09.2019(Unaudited) |
| А. | CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit Before Tax & Extraordinary Items | 54.48 | 6,328.37 | |
| Adjustment For: | |||
| Depreciation | 4,599.51 | 4,796.58 | |
| Interest | 2,875.82 | 3,251.94 | |
| Dividend Income | (204.75) | (204.76) | |
| Share Based Payment Reserve | 83.71 | 108.80 | |
| Operating Profit Before Working Capital Changes | 7,408.76 | 14,280.93 | |
| Adjustment For: | |||
| Trade And Other Receivables | 170.25 | (3,651.85) | |
| Inventories | 404.54 | (414.05) | |
| Trade Payable & Other Liabilites | (2,887.91) | (1,883.14) | |
| Cash Generated From Operations | 5,095.65 | 8,331.89 | |
| Tax Payment | (1, 101.28) | (1, 377.63) | |
| Cash Flow Before Extraordinary Items | 3,994.37 | 6,954.26 | |
| Net Cash From Operating Activities(A) | 3,994.37 | 6,954.26 | |
| B. | CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase Of Fixed Assets | (1,995.08) | (2,827.15) | |
| Dividend Received | 204.75 | ||
| Net Cash Used In Investing Activities(B) | (1,790.33) | (2,827.15) | |
| $\mathsf{C}$ . | CASH FLOW FROM FINANCING ACTIVITIES | ||
| Net Proceeds From Borrowings | (494.36) | (912.51) | |
| Repayment of Lease Liability | (138.41) | (23.03) | |
| Interest Paid | (2,875.82) | (3, 251.94) | |
| Net Cash Used In Financing Activities(C) | (3,508.59) | (4, 187.48) | |
| Net Increase/ (Decrease) In Cash And Cash Equivalents ( $A + B + C$ ) | (1,304.55) | (60.37) | |
| Cash And Cash Equivalents As At (Opening Balance) | 3,340.31 | 3,326.76 | |
| Cash And Cash Equivalents As (Closing Balance) | 2,035.76 | 3,266.39 | |
TIME TECHNOPLAST LTD. Bringing Polymers To Life TIMME
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER & HALF YEAR ENDED 30 SEPTEMBER 2020 Regd. Office : 101, 1st Floor, Centre Point, Somnath Daman Road, Somnath, Dabhel, Nani Daman, Daman (U.T.) 396 210 CIN: L27203DD1989PLC003240 Website:www.timetechnoplast.com Email: [email protected] Corp. Office : 55, Corporate Avenue, Saki Vihar Road, Andheri (E), Mumbai - 400 072
7.48 357,803.43 105.60 226.95 358,030.38 250,940.20 $(502.83)$ 17,041.88 10,819.75 15,621.36 40,435.06 334,355.42 23,674.96 23,674.96 588.98 $(3.10)$ 7.46 16,912.36 102.50 585.88 6,173.62 17,501.34 17,501.34 102.50 17,501.34 17,017.96 17,603.84 2,261.47 178,670.15 17,603.84 ( ₹ in Lakhs) 31.03.2020 Year Ended (Audited) 78.89 173,868.71 173,947.60 5,549.31 8,234.42 3.643.64 118,988.43 2,149.39 59.82 59.82 8,521.96 7,923.03 11,336.26 8,462.14 59.82 7,922.71 20,078.47 162,611.34 11,336.26 2.874.12 8,462.14 8,521.96 8,462.14 8,294.24 2,261.47 227.72 30.09.2019 (Unaudited) Half Year Ended 94.79 1,277.72 0.560.56 121,891.73 121,986.52 85,737.66 7,293.04 5,002.04 7,494.04 119,805.31 2,181.21 759.45 1,421.76 1,421.76 $(15.25)$ $(532.64)$ 14,811.17 2,181.21 1,421.76 $(15.25)$ $(15.25)$ 144.04 1,406.51 1,406.51 1,262.47 2,261.47 30.09.2020 (Unaudited) 87,054.38 49.79 $1.70$ 58,285.05 2,359.95 5,359.88 3,996.56 43.96 141.22 43.96 43.96 3,957.11 2,799.01 3,983.82 10,359.35 81,744.29 5,359.88 1,363.32 3,996.56 4,040.52 3,855.34 3,996.56 3,899.30 141.22 87,104.17 4,040.52 2,261.47 30.09.2019 (Unaudited) 47,520.13 25.38 342.60 $(857.84)$ 8.56 32.512.39 3,467.01 2,528.07 3,749.52 5,803.76 48,403.35 $(0.52)$ $(0.51)$ 47,545.51 $(857.84)$ 301.50 $(1, 159.34)$ $(1, 159.34)$ $(1, 159.34)$ $(1, 167.90)$ 8.56 $(1, 159.34)$ $(1, 167.90)$ $(1, 159.34)$ 2,261.47 Quarter Ended 30.06.2020 (Unaudited) 69.41 3,744.52 74,371.60 3,039.05 457.95 2,445.62 $\begin{array}{c} 1.08 \ 1.08 \end{array}$ 9,007.41 71,401.96 3,039.05 74,441.01 53,225.27 $(875.24)$ 3,826.03 2,473.97 2,581.10 2,581.10 2,565.85 2,581.10 $(15.25)$ 135.48 $(15.25)$ $(15.25)$ 2,430.37 2,565.85 2,261.47 (Unaudited) 30.09.2020 Change in inventories of finished goods &, work-in-progress Paid -up equity share capital (Face Value of ₹1/-each) Other Comprehensive Income attributable to Total Comprehensive Income attributable to Other Equity (excluding Revaluation Reserve) Profit before Exceptional Items & tax (1-2) Extraordinary Item (Net of Tax Expenses) Other Comprehensive Income (Net of Tax) Depreciation and amortisation expense Total Comprehensive Income (9+10) Net Profit For the period (7+8) Employees Benefits Expenses Earnings Per Share (EPS)-Cost of Materials Consumed Non Controlling Interests Non Controlling Interests Non Controlling Interests Revenue from Operations Earning Per Share-Diluted Net Profit attributable to Net Profit After Tax (5-6) Earning Per Share-Basic Profit Before Tax (3+4) Total Income (a+b) Total Expenditure Exceptional Items Other Expenses Expenditure :-Other Income Finance Costs Tax Expenses Sr. Particulars Owners Owners Owners Income No. $12$ $\sigma$ $\mathbf{a}$ $\sim$ $\mathsf{m}$ $\begin{array}{c} 1 & \omega & \omega & \omega \end{array}$ $\begin{array}{c} 9 \ 0 \end{array}$ $11$ $\begin{array}{c} 24 \ 14 \end{array}$ $\sigma$ $\alpha$
| -- <- NUE, RESULTS, ASSETS AND LIABILITIES (CONSOLIDATED) FOR THE QUARTER / HALF YEAR ENDED 30 SEPTEMBER 2020 |
|---|
$\hat{\alpha}^{(k)}$ .
| (₹ in Lakhs) | ||||||
|---|---|---|---|---|---|---|
| 5r | Quarter Ended | Half Year Ended | Year Ended | |||
| ParticularsS | 30.09.2020 | 30.06.2020 | 30.09.2019 | 30.09.2020 | 30.09.2019 | 31.03.2020 |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |
| 1 Segment Revenue | ||||||
| (a) Polymer Products | 50,998.91 | 33,336.82 | 61,033.09 | 84,335.73 | 122,616.22 | 253,652.51 |
| (b) Composite Products | 23,372.69 | 14,183.31 | 26,021.29 | 37,556.00 | 51,252.49 | 104,150.92 |
| Total | 74,371.60 | 47,520.13 | 87,054.38 | 121,891.73 | 173,868.71 | 357,803.43 |
| Less : Inter Segment Revenue | ||||||
| Net Sales/Income from operations | 74,371.60 | 47,520.13 | 87,054.38 | 121,891.73 | 173,868.71 | 357,803.43 |
| 2 Segment Results | ||||||
| Profit before tax and interest from each segment | ||||||
| (a) Polymer Products | 3,646.33 | 1,111.30 | 5,659.82 | 4,757.63 | 11,890.50 | 24,220.40 |
| (b) Composite Products | 1,797.28 | 533.55 | 2,449.28 | 2,330.83 | 4,916.18 | 10,047.36 |
| Total | 5,443.61 | 1,644.85 | 8,109.10 | 7,088.46 | 16,806.68 | 34,267.76 |
| Less: | ||||||
| i) Interest | 2,473.97 | 2,528.07 | 2,799.01 | 5,002.04 | 5,549.31 | 10,819.75 |
| Add | ||||||
| i) Other Un-allocable Income net off | 69.41 | 25.38 | 49.79 | 94.79 | 78.89 | 226.95 |
| Total Profit Before Tax | 3,039.05 | (857.84) | 5,359.88 | 2,181.21 | 11,336.26 | 23,674.96 |
| 3 Segment Assets | ||||||
| a) Polymer Products | 282,535.41 | 281,644.36 | 282,460.41 | 282,535.41 | 282,460.41 | 290,224.35 |
| (b) Composite Products | 45,925.39 | 46,123.45 | 40,783.49 | 45,925.39 | 40,783.49 | 46,209.14 |
| (c) Unallocable | ||||||
| Total Segment Assets | 328,460.79 | 327,767.81 | 323,243.90 | 328,460.79 | 323,243.90 | 336,433.49 |
| 4 Segment Liabilities | ||||||
| a) Polymer Products | 41,988.40 | 40,601.72 | 44,659.44 | 41,988.40 | 44,659.44 | 46,446.99 |
| (b) Composite Products | 4,538.72 | 5,458.80 | 4,443.73 | 4,538.72 | 4,443.73 | 5,596.79 |
| (c) Unallocable | ||||||
| Total Segment Liabilities | 46,527.12 | 46,060.52 | 49,103.17 | 46.527.12 | 49,103,17 | 57 0/12 78 |
$\ddot{\phantom{a}}$
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
| As atAs atSrParticulars30.09.202031.03.2020No(Unaudited)(Audited)ASSETS(1)Non-Current Assets(a) Property, Plant & Equipment125,588.58128,569.37(b) Capital Work-In-Progress7,678.568,053.26(c) Right-of-Use-Assets5,797.806,334.44(d) Intangible Assets39.2932.34(e) Financial AssetsOthers Financial Assets3,004.052,939.16Total Non Current Assets142,101.34145,935.52(2)Current Assets(a) Inventories73,869.0875,765.63(b) Financial Assets(i) Trade Receivables80,984.4882,068.12(ii) Cash & Cash Equivalents5,944.315,958.27(iii) Other Bank Balances2,403.802,291.33(c) Other Current Assets(i) Balances with/Due from Government Authorities14,142.5614,634.87(ii) Other Current Assets9,015.239,779.74Total Current Assets186,359.46190,497.96Total Assets328,460.79Equity and LiabilitiesEquity(a) Equity Share Capital2,261.47(b) Other Equity178,321.73Equity Attributable to Shareholders180,583.20Non - Controlling Interest5,360.20Total Equity185,943.40186,724.06LiabilitiesNon-Current Liabilities(1)(a) Financial LiabilitiesBorrowings27,428.9533,145.73Lease Liabilities5,523.275,808.58Deferred Tax Liabilities (Net)8,109.817,921.36Total Non-Current Liabilities41,062.0346,875.67(2)Current Liabilities(a) Financial Liabilities(i) Borrowings44,626.5543,093.71(ii) Trade PayablesMicro Small & Medium Enterprises168.52170.72Other39,998.3144,183.84(iii) Other Financial Liabilities10,362.937,759.23(b) Other Current Liabilities4,618.503,497.87(c) Provisions1,070.561,063.37(d) Current Tax Liabilities (Net)610.003,065.01Total Current Liabilities101,455.36 | (₹ In Lakhs) | ||
|---|---|---|---|
| 336,433.48 | |||
| 2,261.47 | |||
| 179,246.48 | |||
| 181,507.95 | |||
| 5,216.11 | |||
| 102,833.75 | |||
| Total Equity and Liabilities | 328,460.79 | 336,433.48 |
CONSOLIDATED CASH FLOW STATEMENT
| SrNo | PARTICULARS | Half Year Ended30.09.2020(Unaudited) | Half Year Ended30.09.2019(Unaudited) |
|---|---|---|---|
| A. | CASH FLOW FROM OPERATING ACTIVITIESProfit Before Tax & Extraordinary Items | 2,181.21 | 11,336.26 |
| Adjustment For: | |||
| Depreciation | 7,494.04 | 7,922.71 | |
| Interest | 5,002.04 | 5,549.31 | |
| Minority Interest In Subsidiary | 144.09 | 225.28 | |
| Exchange Adjustment (Net) | (15.25) | 59.82 | |
| Share Based Payment Reserve | 83.71 | 108.80 | |
| Operating Profit Before Working Capital Changes | 14,889.84 | 25,202.18 | |
| Adjustment For: | |||
| Trade And Other Receivables | 1,025.56 | (4, 156.68) | |
| Inventories | 1,896.55 | 970.68 | |
| Trade Payable | (5, 773.30) | (6,612.44) | |
| Cash Generated From Operations | 12,038.66 | 15,403.74 | |
| Tax Payment | (1,474.03) | (3,215.62) | |
| Cash Flow Before Extraordinary Items | 10,564.62 | 12,188.12 | |
| Net Cash From Operating Activities(A) | 10,564.62 | 12,188.12 | |
| В. | CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase Of Fixed Assets | (3,600.24) | (6,064.71) | |
| Net Cash Used In Investing Activities(B) | (3,600.24) | (6,064.71) | |
| C. CASH FLOW FROM FINANCING ACTIVITIES | |||
| Net Proceeds From Borrowings | (1,568.99) | 541.11 | |
| Repayment of Lease Liability | (294.85) | (38.00) | |
| Interest Paid | (5,002.04) | (5,549.31) | |
| Net Cash Used In Financing Activities(C) | (6,865.88) | (5,046.20) | |
| Net Increase/ (Decrease) In Cash And Cash Equivalents ( $A + B + C$ ) | 98.50 | 1,077.21 | |
| Cash And Cash Equivalents As At (Opening Balance) | 8,249.60 | 6,664.11 | |
| Cash And Cash Equivalents As (Closing Balance) | 8,348.11 | 7,741.32 | |
NOTFS:-
- The above results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on 10th November, 2020. Limited Review of the same has been carried out by the statutory auditors of the Company in terms of accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) (Ind AS) prescribed under section 133 of the Regulation 33 of SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. These financial results have been prepared in Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable
- The company completed Greenfield expansion in August, 2020 and commenced production at its third green field manufacturing facility at lowa in addition to Chicago & Houston, USA for manufacturing of packaging products i.e. IBC and large sized drums for servicing to the customers in local surrounding regions. $\sim$
- Relevant information as required pursuant to Regulation 52 (4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015, as amended, in respect of Commercial Papers are as follows: $\mathfrak{m}$
| Half year ended September 30, 2020Rs. 1,80,583.20 LakhsCRISIL A1+, ICRA A1+Refer table below0.452.941.40 | |||
|---|---|---|---|
| a) Credit rating and change in credit rating (if any)(Commercial Papers)Interest Service Coverage Ratio (Refer Note II)Note II )ParticularsDebt Service Coverage Ratio (Refer Ib) Debt - Equity Ratio (Refer Note II)c) Due date for repaymentNet Worth (INR) | Net Profit after Tax | h) Earnings per Share | Note I - Other than Sr. No. 1 a 1 athor points b to be ago operational ato N |
$\sim$ Content under a larger points to the proper port of area on consolidated basis.
Note II : The formula used for calculation of ratios is as under
i) Debt Equity Ratio = Total Debt / Total Equity
ii) Interest Service Coverage Ratio = Profit Before Depreciation And Amortisations, Finance Cost And Tax / Finance Cost
iii) Debt Service Coverage Ratio = Profit Before Depreciation And Amortisation, Finance Cost And Tax/( Finance Cost+Principal Repayment Of Long Term Loan) The Company has repaid Commercial Paper on the respective due dates. The details of Commercial Papers repaid during the half year ended September 30, 2020 or outstanding as at September 30, 2020 are as follows:
| ) | $\frac{1}{2}$ | ||
|---|---|---|---|
| Amount (Rs In Lacs.) | Due date of | Actual Date of | |
| repayment | repayment | ||
| E508G14832 | 2,000 | 29/04/2020 | 29/04/2020 |
| E508G14899 | 2,000 | 30/06/2020 | 30/06/2020 |
| E508G14923 | 1,500 | 30/09/2020 | 30/09/2020 |
| E508G14998 | 1,700 | 30/12/2020 | Not yet due |
| E508G14865 | 1,500 | 02/03/2020 | Not yet due |
- Government. The company has resumed manufacturing operations of essential products since last week of April 2020/ mid May 2020 with available manpower after taking requisite permissions from Government authorities and abiding by social distancing norms and pandemic on the recoverability/carrying value of its assets which does not have any significant impact on carrying value of its assets. The Company's operations and financial results for the half year ended September 30, 2020 have been adversely impacted by the Financial Results. Considering the continuing uncertainties, the company will continue to closely monitor any material changes to However, the impact of the pandemic in the future could be different from those estimated as at the date of approval of these outbreak of COVID-19 pandemic and the consequent nationwide/local lockdown imposed by the Government of India/State taking maximum possible safety precautions. The management has considered the possible effects that may result from the future economic conditions $\overline{4}$
- The Quarter and Half Year ended September 30,2020 results are not comparable to the corresponding period of the previous year due to the Covid-19 impact $\overline{5}$
- The results of the Company are available at Company's website : www.timetechnoplast.com or www.bseindia.com or www.nseindia.com. $\circ$
- Figures of previous periods have been regrouped / rearranged wherever considered necessary. $\overline{1}$
For Time Technoplast Limited
Date: November 10, 2020 Place: Mumbai
Annexière B
Shah & Taparia Chartered Accountants
203, Centre Point Building. 100 Dr B. A Road LalBaug Parel Mumbai - 400012 Tel.: +91-22-1022-0301 - 06 Fax: 022-10220311 F-Mail: [email protected]
Shah Khandelwal Jain & Associates
Chartered Accountants Level 3, Riverside Business Day Wellesley Road, Near RTO Pune - 411001 Tel: +91-20-2622 5500 Fax: . 91-20-2622 5670
Independent Auditor's Review Report on Quarterly and year to date Unaudited Standalone Financial Results of the Company under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
To
The Board of Directors of Time Technoplast Limited
-
- We have reviewed the accompanying Statement of unaudited standalone financial results of Time Technoplast Limited ('the Company') for the quarter and half year ended 30th Sep 2020 ('the Statement') attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulation').
-
- This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ('Ind AS 34'), prescribed under Section 133 of the Companies Act, 2013, 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 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 financial statements are free of material misstatement. A review of interim financial statement 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 as 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 draw attention to Note 4 to the accompanying financial results with regard to management's evaluation of uncertainty due to the outbreak of COVID-19 and its impact on future operations of the Company. The Management believes that no further adjustment are required to the financial results. However, in view of the highly uncertain economic environment, a definitive assessment of the impact on the subsequent periods is highly dependent upon circumstances as they evolve.
-
- 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
Shah & Taparia Chartered Accountants 203, Centre Point Building. 100 Dr B. A Road LalBaug Parel Mumbai - 400012 Tel.: +91-22-4022 0301 - 06 Fax: 022-40220314 E-Mail: [email protected]
Shah Khandelwal Jain & Associates
Chartered Accountants Level 3. Riverside Business Day Wellesley Road, Near RTO Pune - 411001 Tel: +91-20-2622 5500 Fax: +91-20-2622 5670
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 Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement.
For Shah & Taparia Chartered Accountants Firm Registration No: 109463W
Ramesh Pipalawa Partner Membership Number: 103840 UDIN: 20103840AAAANP1673 Place of Signature: Mumbai Date: 10th Nov 2020
For Shah Khandelwal Jain & Associates Chartered Accountants Firm Registration No: 142740W
Jain Ura del $\tau$ Chattered
Ashish Khandelwal Accosatant Partner Membership Number: 049278 UDIN: 20049278AAAAFL8877 Place of Signature: Mumbai Date: 10th Nov 2020
Shah & Taparia Chartered Accountants 203, Centre Point Building, 100 Dr B. A Road LalBaug Parel Mumbai - 400012 Tel.: +91-22-4022 0301 - 06 Fax: 022-40220314 E-Mail: info@shahap&aia.com
Shah Khandelwal Jain & Associates
Chartered Accountants Level 3, Riverside Business Day Wellesley Road, Near RTO Punc - 411001 Tel: $+91-20-26225500$ Fax: +91-20-2622 5670
Independent Auditor's Review Report on Quarterly and year to date Unaudited Consolidated Financial Results of the Company under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
Review Report to The Board of Directors Time Technoplast Limited
-
- We have reviewed the accompanying Statement of unaudited consolidated financial results of Time Technoplast Limited ('the Parent'), Subsidiaries, associates and joint vneturs (the Parent, subsidiaries its associates and joint ventures together referred to as 'the Group') for the quarter and half year ended 30th September, 2020 ('the Statement'), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ('the Listing Regulations').
-
- 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 Indian Accounting Standard 34 "Interim Financial Reporting" ('Ind AS 34'), prescribed under Section 133 of the Companies Act, 2013, 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 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 financial statements are free of material misstatement. A review of interim financial statement 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 as 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 draw attention to Note 4 to the accompanying consolidated financial results with regard to management's evaluation of uncertainty due to the outbreak of COVID-19 and its impact on future operations of the Company. The Management believes that no further adjustment are required to the financial results. However, in view of the highly uncertain economic environment, a definitive assessment of the impact on the subsequent periods is highly dependent upon circumstances as they evolve.
-
- The Statement includes the results of the following entities
List of Subsidiaries
TPL Plastech Limited, NED Energy Limited, Elan Incorporated Fze, Kompozit Praha S R O, Ikon Investment Holdings Limited, GNXT Investment Holding PTE Limited, Schoeller Allibert Time Holding PTE Limited & Schoeller Allibert Time Material Handling Solutions Limited
Shah & Taparia
Chartered Accountants 203, Centre Point Building. 100 Dr B. A Road LaBaug Parel Mumbai - 400012 Tel.: -91-22-4022 0301 - 06 Fax: 022-40220314 E-Mail: [email protected]
Shah Khandelwal Jain & Associates
Chartered Accountants
Level 3, Riverside Business Day Wellesley Road, Near RTO $P$ unc $-411001$ Tel: +91-20-2622 5500 Fax: +91-20-2622 5670
List of Joint Ventures Time Mauser Industries Private Limited
- We did not review the interim financial results and other financial information in respect of 8 subsidiaries considered in the preparation of the Statement in respect of subsidiaries whose interim financial result reflect total assets of Rs 215,143.70 Lac as at September 30,2020 total revenue of Rs 32,994.70 Lacs and Rs 57,881.53 Lacs and total profit of Rs. 1,554.56 Lacs and Rs 1,703.93 Lacs for the quarter and six month ended September 30, 2020. These interim financial results has been reviewed by other auditor whose reports have 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 these subsidiaries is based solely on the reports of the other auditors.
We did not review the interim financial results and other financial information of 1 joint venture considered in the preparation of the Statement in respect of joint venture whose interim financial result reflect total loss of Rs 55.59 Lacs and Rs 88.94 Lacs (represent group share) for the quarter and six month ended September 30, 2020. These interim financial results has been reviewed by other auditor whose reports have 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 the Joint venture is based solely on the reports of the other auditors.
Our opinion on the Statement is not modified in respect of matters referred to in para 4 and 6.
Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing $7.$ 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 Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement.
For Shah & Iaparia Chartered Accountants Firm Registration No: 109463W
For Shah Khandelwal Jain & Associates Chartered Accountants Firm Registration No: 142740W
delpser
Ramesh Pipalawa Partner Membership Number: 103840 UDIN No: 20103840AAAANQ9371 Place of Signature: Mumbai Date: 10th Nov 2020
Ashish Khandelwal Partner Membership Number: 049278 UDIN No: 20049278AAAAFM4957 Place of Signature: Mumbai Date: 10th Nov 2020
