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TITAN INTECH LIMITED — Interim / Quarterly Report 2022
Nov 6, 2021
62290_rns_2021-11-06_af3554f2-b955-4824-9140-4121922bf949.pdf
Interim / Quarterly Report
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TITANINTECHLIMITED
(FormallyknownasINDOVATIONTECHNOLOGIESLIMITED)CI NNO: L72200AP1984PLC004380
Regd Office: Plot No. 42, D.No. 54-28/3-5, Opp: Gurudwara, Behind OBC Bank Gurunanak ColonyVijayawada–520008Ph:0891-2795772
www.titanintech.com
06[th] Nov 2021
To BSELimited PJTowers,DalalStreet Mumbai- 400001
DearSir/Madam,
Sub: OutcomeofBoardMeetingunderRegulation30readwith33(3)ofSEBI(ListingObligationa ndDisclosureRequirements)Regulations,2015
Ref: Scrip Name - Titan Intech Ltd (Formerly known as Indovation Technologies Ltd)(Scrip Code:521005)
With reference to the subject above, this is to inform the exchange that at the Board Meetingof M/s Titan Intech Limited held on Saturday, 06[th] Nov 2021 at the registered office of thecompanythefollowing weredulyconsidered andapproved bytheboard:
-
Un-Auditedfinancialresultsforthequarterended30.09.2021.
-
LimitedReviewreportfortheQuarterended 30.09.2021.
The meeting of the commenced on 11:00 am (IST) and concluded at 12:30 pm
(IST)ThisisforinformationandrecordsoftheExchange.
Thankingyou.
Yoursfaithfully, ForTitanIntechLtd (FormerlyknownasIndovationTechnologiesLtd)
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ZameerAhammedKottala Director& ComplianceOfficer
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TITAN INTECH LIMITED
(Formally known as INDOVATION TECHNOLOGIES LIMITED) CIN NO : L72200AP1984PLC004380 Regd Office : Plot No. 42, D.No. 54-28/3-5, Opp: Gurudwara, Behind OBC Bank Gurunanak Colony Vijayawada Krishna AP 520008 INDIA www.titanintech.com
| PART- | I | (Rs in Lacs) | |||||
|---|---|---|---|---|---|---|---|
| STANDALONE UNAUDITED FINANCIAL RESULTS FOR THEQUARTER ENDED 30TH SEP, 2021 | |||||||
| S.No | Particulars | QUARTER ENDED | 6 MONTHS ENDED |
YEAR ENDED |
|||
| 30-Sep- 2021 |
30-Jun- 2021 |
30-Sep- 2020 |
30-Sep- 2021 |
30-Sep- 2020 |
31- Mar-2021 |
||
| Unaudit ed |
Unaudit ed |
Unaudit ed |
Unaudit ed |
Unaudit ed |
Audite d |
||
| I | Revenue from Operations | 79.65 | 5.00 | 7.00 | 84.65 | 0.00 | 71.49 |
| II | Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| III | Total Revenue(I+II) | 79.65 | 5.00 | 7.00 | 84.65 | 0.00 | 71.49 |
| IV | Expenses | ||||||
| Cost of Material Consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 30.65 | |
| Purchase of Stock-in- trade |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Changes in inventories of finished goods, Work inprogress and Stock in trade |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Employee benefits expense |
0.68 | 0.52 | 0.50 | 1.20 | 1.00 | 8.65 | |
| Finance Costs | 3.32 | 3.32 | 3.30 | 6.64 | 6.60 | 10.46 | |
| Depreciation and Amortization expense | 12.21 | 12.21 | 12.48 | 24.42 | 24.96 | 58.48 | |
| Other Expense | 59.59 | 1.03 | 1.00 | 60.62 | 2.00 | 8.73 | |
| Total Expenses | 75.80 | 17.08 | 17.28 | 92.88 | 34.56 | 116.97 | |
| V | Profit/(Loss) from before Exceptional Items and tax(I-IV) |
3.85 | -12.08 | -10.28 | -8.23 | -34.56 | -45.48 |
| VI | Exceptional Items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| VII | Profit/(Loss) before tax(V-VI) |
3.85 | -12.08 | -10.28 | -8.23 | -34.56 | -45.48 |
| VIII | Tax Expense: | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Current Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Deferred Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| IX | Profit/ (Loss) for the period from Continuing operations(VII-VIII) |
3.85 | -12.08 | -10.28 | -8.23 | -34.56 | -45.48 |
| X | Profit/ (Loss) from discontinuing operations |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| XI | Tax Expense of discontinuing operations |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| XII | Profit/ (Loss) for the period from discontinuing operations after tax(X-XI) |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| XIII | Profit/ (Loss) for theperiod(IX+XII) | 3.85 | -12.08 | -10.28 | -8.23 | -34.56 | -45.48 |
| XIV | Other Comprehensive Income A) (i) Items that will not be reclassified to profit or loss (ii) Income Tax related to items that will not be relclassified to profit or loss B) (i) Items that will be reclassifed to profit or loss (ii)Income Tax relatingto items that will |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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Regional Office : B202, Universal Paradise, Nanda Patkar Road, Opp Petrol Pump, vile Parle East, Mumbai - 400057. Regd Office : Gayatri Nagar, D.No.50-63-03, 1st Floor, Rajendra Nagar, Vishakapatnam-530 016, Ph: 0891-2795772
TITAN INTECH LIMITED
(Formally known as INDOVATION TECHNOLOGIES LIMITED) CIN NO : L72200AP1984PLC004380
Regd Office : Plot No. 42, D.No. 54-28/3-5, Opp: Gurudwara, Behind OBC Bank Gurunanak Colony Vijayawada Krishna AP 520008 INDIA www.titanintech.com
| www.titanintech.com | |||||||
|---|---|---|---|---|---|---|---|
| be reclassified to profit or loss |
|||||||
| XV | Total Comprehensive Income for the period (XIII+XIV) (Comprising Profit (loss) and Other Comprehensive Income for the Period) |
3.85 | -12.08 | -10.28 | -8.23 | -34.56 | -2.80 |
| XVI | Earnings Per Equity Share (For Continuing Operations) (Face Value INR 10/- each) 1) Basic 2) Diluted |
0.16 | -0.49 | -0.42 | -0.33 | -1.40 | -0.11 |
| XVII | Earnings Per Equity Share (For Discontinued Operations) (Face Value INR 10/- each) 1) Basic 2)Diluted |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| XVIII | Earnings Per Equity Share (For Continued and Discontinued Operations)(Face Value INR 10/- each) 1) Basic 2) Diluted |
0.16 | -0.49 | -0.42 | -0.33 | -1.40 | -2.80 |
| XIX | Paid Up Equity Share Capital (Face Value of INR 10/- per share) |
247.46 | 247.46 | 247.46 | 247.46 | 247.46 | 247.46 |
| XX | Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year |
-225.40 | -221.55 | 0.00 | -225.40 | 0.00 | -233.63 |
| Notes: | |||||||
| 1 The Company has only one reportable segment i.e., Information technology Sector. Hence, the separate disclosure on Segment information is not required. 2 The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on Saturday 06.11.2021 3 Previous period figures have been regrouped, wherever necessary, for the purpose of comparison. 4 The results are also available on the website of the Company www.titanintech.com Place : VIJAYAWADA For TITAN INTECH LIMITED |
|||||||
| Date : 06/11/2021 (Zameer Ahammed Kottala) |
3 Previous period figures have been regrouped, wherever necessary, for the purpose of comparison. 4 The results are also available on the website of the Company www.titanintech.com Place : VIJAYAWADA For TITAN INTECH LIMITED Date : 06/11/2021 (Zameer Ahammed Kottala)
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Regional Office : B202, Universal Paradise, Nanda Patkar Road, Opp Petrol Pump, vile Parle East, Mumbai - 400057. Regd Office : Gayatri Nagar, D.No.50-63-03, 1st Floor, Rajendra Nagar, Vishakapatnam-530 016, Ph: 0891-2795772
TITAN INTECH LIMITED
(Formally known as INDOVATION TECHNOLOGIES LIMITED) CIN NO : L72200AP1984PLC004380 Regd Office : Plot No. 42, D.No. 54-28/3-5, Opp: Gurudwara, Behind OBC Bank Gurunanak Colony Vijayawada Krishna AP 520008 INDIA www.titanintech.com
TITAN INTECH LIMITED STATEMENT OF ASSETS & LIABILITIES as on 30.09.2021
| TITAN INTECH LIMITED STATEMENT OF ASSETS & LIABILITIES as on 30.09.2021 |
TITAN INTECH LIMITED STATEMENT OF ASSETS & LIABILITIES as on 30.09.2021 |
TITAN INTECH LIMITED STATEMENT OF ASSETS & LIABILITIES as on 30.09.2021 |
TITAN INTECH LIMITED STATEMENT OF ASSETS & LIABILITIES as on 30.09.2021 |
|---|---|---|---|
| Particulars | AS AT | ||
| 30.09.2021 | 30.09.202 0 |
||
| Share Holder's Funds Share Capital Reserves & Surplus Share Application Money Non-Current Liabilities: Long Term Borrowings Deferred Tax Liability Other Long Term Liabilities Current Liabilities: Short Term Borrowings Trade Payables Other Current Liabilities Short Term Provisions |
247.46 -188.84 53.08 -6.61 0.00 0.00 32.58 359.92 0.50 |
247.46 -180.57 53.08 -6.61 0.00 0.00 24.80 380.86 0.75 |
|
| TOTAL EQUITY AND LIABILITIES | 498.09 | 519.77 | |
| Assets Non-Current Assets: Tangible Assets Intangible Assets Capital Work In Progress Non-Current Investments Other Non- Current Assets Current Assets: Inventories Trade Receivables Cash and Bank Balances Short Term Loans and Advances Other Current Assets |
279.55 0.00 0.00 0.00 0.00 0.00 14.11 2.25 0.00 202.18 |
303.97 0.00 0.00 0.00 0.00 0.00 42.94 1.80 0.00 171.06 |
|
| TOTAL ASSETS | 498.09 | 519.77 | |
| Place: Vijayawada Date : 06.11.2021 |
For TITAN INTECH LIMITED (Zameer Ahammed Kottala) Director |
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Regional Office : B202, Universal Paradise, Nanda Patkar Road, Opp Petrol Pump, vile Parle East, Mumbai - 400057. Regd Office : Gayatri Nagar, D.No.50-63-03, 1st Floor, Rajendra Nagar, Vishakapatnam-530 016, Ph: 0891-2795772
TITAN INTECH LIMITED
(Formally known as INDOVATION TECHNOLOGIES LIMITED) CIN NO : L72200AP1984PLC004380
Regd Office : Plot No. 42, D.No. 54-28/3-5, Opp: Gurudwara, Behind OBC Bank Gurunanak Colony Vijayawada Krishna AP 520008 INDIA www.titanintech.com
| TITAN INTECH LIMITED | TITAN INTECH LIMITED | TITAN INTECH LIMITED | |
|---|---|---|---|
| CASHFLOW STATEMENT FOR THE YEAR ENDED 30th SEPTEMBER, 2021 | |||
| Particulars | 30.09.2021 | 30.09.2020 | |
| Rs. | Rs. | ||
| A. Cash flow from Operating Activities Profit before tax and extraordinary activities Depreciation and Depletion (Increase)/Decrease in Inventories (Increase)/Decrease in Trade Receivables (Increase)/Decrease in Loans and Advances Increase/(Decrease) in Other Current Assests Increase/(Decrease) in Current Liabilities Increase/(Decrease) in Long Term Provisions Income Tax Paid Sub Total A B. Cash flow from Financing Activities Share Capital Reserves and surplus Long Term Borrowings Received Other Long Term Liabilities Short Term Borrowings Received C. Cash Flows from Investing Purchase of Fixed Assets (Increase)/Decrease in Capital work in Progress (Increase)/Decrease in Investments Sub Total C |
-8.27 24.42 - 28.83 - -31.12 -13.41 |
-34.56 24.96 - -42.94 - -171.06 406.41 46.47 - |
|
| 0.45 | 229.28 | ||
| - - - - |
247.46 -146.01 - - - |
||
| - | 101.45 |
||
| - - - |
-328.93 - - |
||
| - | -328.93 |
||
| Net Decrease in cash and cash equivalents Opening cash and cash equivalents Closing cash and cash equivalents |
|||
| 0.45 | 1.80 | ||
| 1.80 2.25 |
|||
| - | |||
Place: Vijayawada Date : 06.11.2021 |
For TITAN INTECH LIMITED Zameer Ahammed Kottala Director |
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Regional Office : B202, Universal Paradise, Nanda Patkar Road, Opp Petrol Pump, vile Parle East, Mumbai - 400057. Regd Office : Gayatri Nagar, D.No.50-63-03, 1st Floor, Rajendra Nagar, Vishakapatnam-530 016, Ph: 0891-2795772
S m v&co
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chartered accountantS
Flat No.103, H.No.2-2-1105/35&37, Reliance Avan’ s Arena, Tilak Nagar, Hyderabad-500044, Telangana E - Mail : [email protected] [email protected] Mobile : 99660 04380
LIMITED REVIEW REPORT
To
The Board of Director Titan Intech Ltd
(Formerly Indovation Technologies Ltd)
- We have reviewed the accompanying statement of unaudited standalone financal results of M/s Titan Intech Limited (Formerly Indovation Technologies Ltd)(the Company) for the quarter ended 30 Sep, 2021 (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 (the Regulation), read with SEBI Circular No: CIR/CFD/FACI62/2016 dated July 5, 2016 ('the Circular).
2.The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS) 34Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (lndian Accounting Standards) Rules, 2015, as amended, read with the Circular 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 review.
3.We conducted our review 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 required 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 provide 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 or attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (Ind AS')) specified under Section 133 of the Companies Act, 2013, read with relevant rules issued there under and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Place : Hyderabad Date: 06.11.2021
For SMV & Co Charted Accountants Firm Regd No:015630S
VAMSI Digitally signed by VAMSI KRISHNA KRISHNA ROTTELA Date: 2021.11.06 ROTTELA 19:53:45 +05'30'
R.VAMSHI KRISHNA Partner Mem No:229292