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Triochem Products Ltd. Interim / Quarterly Report 2021
63375_rns_2021-11-13_f9cd609b-721e-48b0-a3fb-888ce099be74.pdf
Interim / Quarterly Report
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MANUFACTURERS OF ETHICAL PIIARMACEUTICAL PROD UCTS Reglstacd Office: 4th Floor, Sanbava Chambus, Sir. P. M. Road, Fort, Munbai, Mchaushtra, PIN: 400001. Telephone 00 91 (22) 2266 31580 Fax: 00 91 (22) 2202 4657 Emall: info@ani]hrav.com Wchsite: www.triochemproducts.com Caporate Identity Number: L24249MH1972PLC015544
Ref No: TPL PP 2021933 2021; 13th November 2021
To BSE Limited Corporate Relationship Department, Phfroze Teejeebhoy Towers, Dalal Street` Fort. Mumbaai: 400 001. Security Code No. 512101 -ISIN No.: INE331E01013.
Dear Sir / Madam,
Sub: Outcome of the Board - P`msuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosures Reauirementst Remilation. 2015
Pursuant to Notice of Board meeting dated 28th October, 2021 the Board meeting was held on todayy Saturday,13th November, 2021 at 2.00 p.in. at 4th Floor, Sambava Chambers, Sir P. M Road, Fort, Mumbai: 400001 and has approved the fouowing:
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- The Board approved the Unaudited Financial Results for the quarter and half year ended on 30tb September 2021, as reviewed by the Audit Committee along with Statement Of Assets and Liabilities as at September 30, 2021 and Cash Flow Statement for the half year ended September 30, 2021, in accordance with Regulation 33 of SEBI Qisting Obhigations and Disclosure Requirements) Regulation, 2015.
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- The Board noted and took on records the Limited Review Report for the quarter and half year ended on 30th September 2021 as placed before the Board.
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- Take notes on the compliance for the quarter and half year ended 30th September 2021
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- Board Meeting commenced at 2.00 p.in. and concluded at 2.45 pin.
You are requested to take note of the sane. Thanhing you , Your futhfully, For TRIOCIIEM PRODUCTS LIMITED -- -
RAMU S. DEORA DIRECTOR DIN: 00312369 Place: Mumbai
Page 1 of 1
Pune A0dress .. 123, Sohrab Hall. 21 Sassoon Road, Opp. Jehangir Hospital, Puce -411cO1. T : 020 4906 7177 E : [email protected] . W : \^MMi.kdg.co.in
Independent Auditor's Review Report on Unaudited Quarterly Financial Results of the Company Pursuant to the R®gulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)
TO,
The Board of Directors of TRIOCHEM PRODUCTS LIMITED ("Company")
-
- We have reviewed the accompanying statement of unaudited financial results of TRIOCHEM PRODUCTS LIMITED ("Company") for the quarter and half year ended September 30, 2021 being submitted by the Company pursuant to Regulation 33 Of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by SEBI from time to time.
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- The statement is the responsibility of the Company's management and has been approved by Board Of Directors. Our responsibility is to express a conclusion on the Statement based on our review of the Statement, which has been prepared in acoordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("lnd As 34"), specified under Section 133 of the Companies Act, 2013, SEBI Circular CIR/CFD/PAC/62/2016 dated 5 July 2016 (hereinafter roferred to as 'the SEBI Ciroular), and other accounting principles generally accepted in India.
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- We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, 'Review of Interim Financial Information performed by 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 is limited primarily to inquiries of company personnel and an analytical procedure 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.
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- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable Indian Accounting Standards (lnd AS) and other recognized 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 including the manner in which it is to be disclosed, or that it contains any material misstatement.
For Kanu Doshi Associates LLP Chartered Accountants Firm Registration No: 104746WAV100096
KUNALsuMAueHAIzjrty£'fungH#vfa#A vAKHARiA #;Oap2" 1 3 "*9
Kunal Vakharia Partner Membership No.: 148916 UDIN: 21148916AAAAJC6115
Place: Mumbai Date: 13th November 2021
MANUFACTURERS OF ETHICAL PHARMACEUTICAL PRODUCTS Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 2202 4657 E-mall: [email protected] Website: www.triochemproducts.com Corporate Identity Number: L24249MH1972PLC015544
TRIOCHEM PRODUCTS LIMITED
Registered Office : Sambava Chamber, 4th Floor, Sir P M Road, Fort, Mumbai - 400 001.
Website: www.triochemproducts.com
CIN: L24249MH1972PLC015544
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2021
| PAPER OF CHAPTER FRAME OF MODERN TO THE | (Rs in Lakh) Except EPS | ||||||
|---|---|---|---|---|---|---|---|
| Sr. | Particulars | Quarter Ended | Half Year Ended | Year Ended | |||
| No. | 30-Sep-21 | 30-Jun-21 | 30-Sep-20 | 30-Sep-21 | 30-Sep-20 | 31-Mar-21 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| $\mathbf 1$ | Income | ||||||
| (a) Revenue from Operations | 326.27 | 225.86 | 326.27 | 225.86 | 1,393.84 | ||
| (b) Other Income | 11.00 | 18.19 | 4.38 | 29.19 | 5.68 | 13.38 | |
| Total Income From Operations | 337.27 | 18.19 | 230.24 | 355.46 | 231.54 | 1,407.22 | |
| Expenses | |||||||
| (a) Cost of Materials Consumed | 226.06 | 644.54 | 644.87 | ||||
| (b) Purchase of stock in trade | 549.75 | 549.75 | 602.73 | ||||
| (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(274.87) | (47.76) | (274.87) | (472.07) | 13.41 | ||
| (d) Employees Benefit Expenses | 12.78 | 11.50 | 16.89 | 24.28 | 33.78 | 66.91 | |
| (e) Finance Costs | 1.14 | 0.38 | 4.97 | 1.52 | 7.06 | 10.90 | |
| (f) Depreciation and Amortisation Expenses | 2.99 | 2.95 | 3.46 | 5.94 | 6.88 | 13.88 | |
| (g) Other Expenditure | 17.82 | 18.56 | 33.79 | 36.38 | 53.83 | 112.64 | |
| Total expenses | 309.61 | 33.39 | 237.41 | 343.00 | 274.02 | 1,465.33 | |
| $\overline{\mathbf{3}}$ | Profit before exceptional items and tax | 27.66 | (15.21) | (7.16) | 12.46 | (42.47) | (58.11) |
| $\bf{4}$ | Exceptional items | ||||||
| $\overline{\phantom{a}}$ | Profit/ (Loss) before tax | 27.66 | (15.21) | (7.16) | 12.46 | (42.47) | (58.11) |
| 6 | Tax Expense | ||||||
| (a) Current tax | (0.22) | (0.00) | (0.22) | 0.02 | (0.75) | ||
| (b) Deferred tax | 7.30 | (4.06) | (1.73) | 3.24 | (10.56) | (12.66) | |
| Total tax expenses | 7.30 | (4.28) | (1.73) | 3.02 | (10.54) | (13.41) | |
| Net Profit/ (Loss) for the period | 20.36 | (10.93) | (5.43) | 9.44 | (31.93) | (44.70) | |
| 8 | Other Comprehensive Income (Net of Taxes) | ||||||
| (A)(i). Items that will be reclassified to profit or loss | |||||||
| (ii). Income tax relating to items that will be reclassified to profit or loss |
|||||||
| (B)(i). Item that will not be reclassified to profit or loss | (0.36) | 1.68 | (1.06) | 1.32 | (0.95) | (2.34) | |
| (ii). Income tax relating to items that will not be reclassified to profit or loss |
0.09 | (0.42) | 0.27 | (0.33) | 0.24 | 0.59 | |
| Total other Comprehensive Income (net of taxes) | (0.27) | 1.26 | (0.79) | 0.99 | (0.71) | (1.75) | |
| $\overline{9}$ | Total Comprehensive Income for the period | 20.09 | (9.67) | (6.22) | 10.43 | (32.64) | (46.45) |
| 10 | Paid-up equity share capital (Face Value of ₹ 10/- per share) | 24.50 | 24.50 | 24.50 | 24.50 | 24.50 | 24.50 |
| 11 | Other equity as per Balance Sheet of previous accounting year | 1,146.69 | |||||
| 12 | Earnings per equity share (EPS) (of Rs. 10/- each) (not annualised) | ||||||
| Basic / Diluted EPS (in Rs.) | 8.31 | (4.46) | (2.22) | 3.85 | (13.03) | (18.25) |
$\mathbf{a}$
MANUFACTURERS OF ETHICAL PHARMACEUTICAL PRODUCTS Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 2202 4657 E-mall: [email protected] Website: www.triochemproducts.com Corporate Identity Number: L24249MH1972PLC015544
| STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH SEPTEMBER, 2021 | |||
|---|---|---|---|
| Particulars | As at | As at | |
| 30-Sep-21 | 31-Mar-21 | ||
| (Unaudited) | (Audited) | ||
| A | ASSETS | ||
| 1 | Non-Current Assets | ||
| (a) Property, plant and equipment | 80.64 | 86.39 | |
| (b) Capital work - in - progress | 3.24 | 3.24 | |
| (c) Investment property | 7.53 | 7.72 | |
| (d) Financial assets | |||
| (i) Other financial assets | 7.32 | 7.32 | |
| (e) Deferred tax assets (Net) | 0.35 | 3.92 | |
| (f) Other non current tax assets | 0.71 | 0.71 | |
| (g) Other non current assets | 0.98 | 0.87 | |
| Sub Total - Non- Current Assets | 100.77 | 110.17 | |
| $\overline{\mathbf{2}}$ | Current Assets | ||
| (a) Inventories | 360.22 | 85.36 | |
| (b) Financial Assets | |||
| (i) Trade receivable | 365.45 | 139.06 | |
| (ii) Cash and cash equivalents | 299.42 | 819.72 | |
| (iii) Other financial assets | 0.15 | 0.65 | |
| (c) Other tax assets (net) | 49.73 | 33.17 | |
| (d) Other current assets | 44.26 | 22.07 | |
| Sub Total - Current Assets | 1,119.23 | 1,100.03 | |
| TOTAL ASSETS | 1,220.00 | 1,210.20 | |
| $\bf{B}$ | EQUITY AND LIABILITIES | ||
| $\mathbf{1}$ | Equity | ||
| (a) Equity share capital | 24.50 | 24.50 | |
| (b) Other equity | 1,157.12 | 1,146.69 | |
| Sub Total - Shareholder's fund | 1,181.62 | 1,171.19 | |
| Liabilities | |||
| (a) Non Current Liabilities | |||
| (a) Deferred tax liabilities (Net) | |||
| (b) Current Liabilities | |||
| (a) Financial liabilities | |||
| (i) Borrowing | |||
| (ii) Trade payables | 33.64 | 32.44 | |
| (b) Other financial liabilities | 1.36 | ||
| (c) Other current liabilities | 0.80 | 0.93 | |
| (d) Provisions | 2.58 | 5.64 | |
| (e) Current tax liabilities (Net) | |||
| Sub Total - Liabilities | 38.38 | 39.01 | |
| TOTAL EQUITY AND LIABILITIES | 1,220.00 | 1,210.20 |
Corporate Identity Number: L24249MH1972PLC015544
| CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2021 Particulars |
Half Year Ended | |
|---|---|---|
| 30-Sep-21 | 30-Sep-20 | |
| (Unaudited) | (Unaudited) | |
| CASH FLOW FROM OPERATING ACTIVITIES A |
||
| Net Profit before tax and Extraordinary Items | 12.46 | (42.47) |
| Adjustment for: | ||
| Depreciation / Amortisation | 5.94 | 6.88 |
| Interest Income | (7.28) | (0.59) |
| Reclassification of remeasurement of employee benefits | 1.32 | (0.95) |
| Interest Expenses | 1.52 | 7.06 |
| Net loss on sale of Investment | ÷ | 0.06 |
| Investment Expenses | 0.02 | 0.03 |
| Sundry balance Off | 0.35 | (0.00) |
| Operating Profit before Working Capital Changes | 14.33 | (29.99) |
| Adjustments for Working Capital Changes | ||
| Increase/Decrease in Assets | (22.30) | (60.83) |
| Changes in Inventories | (274.87) | (1,012.83) |
| Increase/Decrease Trade Receivable | (226.38) | 1.224.60 |
| Increase/Decrease Trade payables | 1.20 | (37.79) |
| Increase/Decrease in other financial and non-financial liabilitie | 1.36 | (7.60) |
| Increase/Decrease in Liabilities | (0.12) | (76.18) |
| Changes in Provision | (3.07) | 0.63 |
| Cash Generated from Operations | (509.85) | 0.01 |
| Direct taxes paid / (refund) | (16.34) | (14.50) |
| Net Cash from Operating Activities | (526.19) | (14.49) |
| CASH FLOW FROM INVESTING ACTIVITIES B |
||
| Purchase of Fixed Assets including Capital Work in Progress | ||
| (Loss) on Sale of Investment | (0.06) | |
| Investment Expenses | (0.02) | (0.03) |
| Interest Received | 7.43 | 0.60 |
| Net Cash Used in Investing Activity | 7.41 | 0.51 |
| CASH FLOW FROM FINANCING ACTIVITIES $\mathbf{C}$ |
||
| Net (Decrease)/ Increase in Short Term Borrowings | 50.27 | |
| Interest Paid | (1.52) (1.52) |
(7.06) 43.21 |
| Net Cash Used in Financing Activity | 29.23 | |
| NET CHANGES IN CASH & CASH EQUIVALENTS (A+B+C) | (520.30) | |
| OPENING BALANCE OF CASH & CASH EQUIVALENTS | 819.72 | 55.31 |
| CLOSING BALANCE OF CASH & CASH EQUIVALENTS | 299.42 | 84.54 |
| 520.30 | (29.23) |
חוג CHEM
MANUFACTURERS OF ETHICAL PHARMACEUTICAL PRODUCTS
Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 2202 4657
E-mall: [email protected] Website: www.triochemproducts.com
Corporate Identity Number: L24249MH1972PLC015544
| Notes: | ||||
|---|---|---|---|---|
| 1) The above unaudited financial results of the Company for the quarter and half year ended September 30, 2021 have been reviewed by the Audit | ||||
| committee of the Board and approved by the Board of Directors at its meeting held on 13.11.2021. | ||||
| 2) The Unaudited financial results have been prepared in accordance with Indian Accounting Standards (Ind AS), the provisions of the Companies Act, 2013 | ||||
| (the Act), as applicable and guidelines issued by the Securities and Exchange Board of India (SEBI). | ||||
| 3) The Company operates in single segment only, i.e. chemical and pharmaceuticals; therefore, disclosure requirement of Indian Accounting Standard (IND | ||||
| AS-108) "Segment Reporting" is not applicable. | ||||
| 4) The Company has considered the possible effects that may arise out of the still unfolding COVID-19 pandemic on the carrying amounts of property, | ||||
| plant & equipment, inventories, trade receivables, etc. For this purpose, the Company has considered internal and external sources of information up to | ||||
| the date of approval of the Financial Results including credit reports and related information, economic forecasts, market value of certain investments | ||||
| etc. Based on the current estimates, the Company does not expect any significant impact on such carrying values. The impact of COVID-19 on the | ||||
| Company's financial statements may differ from that estimated as at the date of approval of Financial Results. | ||||
| The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund | ||||
| and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has | ||||
| invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once | ||||
| the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the | ||||
| related rules to determine the financial impact are published. | ||||
| 6) The Corresponding figures of the previous quarter / year have been regrouped, recasted and reclassified to make them comparable wherever necessary. | ||||
| FOR TRIOCHEM PRODUCTS LIMITED | ||||
| RAMU S. DEORA | ||||
| DIRECTOR & CEO Place: Mumbai |
||||
| DIN: 00312369 Dated: 13th November, 2021 |
MANUFACTURERS OF ETHICAL PHARMACEUTICAL PRODUCTS
PIN: 400001. Telephone: 00.91 (22) 2266 3150 Fax: 00.91 (22) 2202 4657 E-mall: [email protected] Website: www.triochemproducts.com
Corporate Identity Number: 1,24249MH1972PLC015544
TRIOCHEM PRODUCTS LIMITED
Registered Office: Sambava Chambers, 4th Floor, Sir P. M. Road, Fort. Mumbai - 400 001
website: www.triochemproducts.com CIN: L24249MH1972PLC015544
| (Rs. in lakhs) Except EPS | |||||||
|---|---|---|---|---|---|---|---|
| EXTRACT OF STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2021 | |||||||
| Sr | Particulars | Quarter Ended | Half Year Ended | For the | |||
| 30-Sep-21 | 30-Jun-21 | 30-Sep-20 | $30-Sep-21$ | 30-Sep-20 | Year Ended | ||
| 31-Mar-21 | |||||||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||
| $\mathbf{I}$ | Total Income from operations | 337.27 | 18.19 | 230.24 | 355.46 | 231.54 | 1.407.22 |
| $\overline{\mathbf{2}}$ | Net Profit / (Loss) for the period (before Tax, Exceptional and / or Extraordinary items) | 27.66 | (15.21) | (7.16) | 12.46 | (42.47) | (58.11) |
| 3 | Net Profit / (Loss) for the period before tax (after Exceptional and / or Extraordinary items) | 27.66 | (15.21) | (7.16) | 12.46 | (42.47) | (58.11) |
| $\frac{1}{4}$ | Net Profit / (Loss) for the period after tax (after Exceptional and / or Extraordinary items) | 20.36 | (10.93) | (5.43) | 9.44 | (31.93) | (44.70) |
| $\tilde{\phantom{a}}$ | Total Comprehensive Income for the period [Comprising Profit / (Loss) for the period (after tax) and other Comprehensive Income (after tax)] |
(0.27) | 1.26 | (0.79) | 0.99 | (0.71) | (1.75) |
| Equity share capital (Face value Rs.10/- per share) | 24.50 | 24.50 | 24.50 | 24.50 | 24.50 | 24.50 | |
| Other Equity | 1,146.69 | ||||||
| Earnings per share (of Rs.10/- each) (for continuing and discontinued operations) | |||||||
| a) Basic (not annualized) | 8.31 | (4.46) | (2.22) | 3.85 | (13.03) | (18.25) | |
| b) Diluted (not annualized) | 8.31 | (4.46) | (2.22) | 3.85 | (13.03) | (18.25) | |
| Notes: | |||||||
| 1) The above unaudited financial results of the Company for the quarter and half year ended September 30, 2021 have been reviewed by the Audit committee of the Board | |||||||
| and approved by the Board of Directors at its meeting held on 13.11.2021. | |||||||
| 2) The Unaudited financial results have been prepared in accordance with Indian Accounting Standards (Ind AS), the provisions of the Companies Act, 2013 (the Act), as | |||||||
| applicable and guidelines issued by the Securities and Exchange Board of India (SEBI). | |||||||
| 3) The company has adopted Ind AS 116 effective period beginning from April 01, 2019. The effect of adoption of Ind AS 116 on the financial results is insignificant. | |||||||
| 4) | The Company operates in single segment only, i.e. chemical and pharmaceuticals; therefore, disclosure requirement of Indian Accounting Standard (IND AS-108) | ||||||
| "Segment Reporting" is not applicable. | |||||||
| The Company has considered the possible effects that may arise out of the still unfolding COVID-19 pandemic on the carrying amounts of property, plant & equipment, | |||||||
| inventories, trade receivables, etc. For this purpose, the Company has considered internal and external sources of information up to the date of approval of the | |||||||
| Financial Results including credit reports and related information, economic forecasts, market value of certain investments etc. Based on the current estimates, the | |||||||
| Company does not expect any significant impact on such carrying values. The impact of COVID-19 on the Company's financial statements may differ from that estimated | |||||||
| as at the date of approval of Financial Results. | |||||||
| The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. | |||||||
| The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give |
|||||||
| appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published. | |||||||
| 7) | The Corresponding figures of the previous quarter / year have been regrouped, recasted and reclassified to make them comparable wherever necessary. | ||||||
| 8) | The above is an extract of the detailed format of financial results filed with the Stock Exchange under Regulation 33 of the SEBI (Listing and Other Disclosure | ||||||
| Requirements) Regulation. 2015. The full format of consolidated financial results are available on the Stock Exchange website, www.bseindia.com and on the Company's website www.triochemproducts.com |
|||||||
| FOR TRIOCHEM PRODUCTS LIMITED |
Place: Mumbai Dated: 13th November, 2021
RAMU S. DEORA DIRECTOR & CEO DIN: 00312369
