Tulive Developers Limited — Annual Report 2020

Aug 13, 2020

IN - }QQQqaaqngy1aR9PI CIN : L99999MH1962PLC

Date: 13™ August 2020

BSE Limited Phiroze Jeejeebhoy Towers, Mumbai — 400001.

'Dear Sir,

SUB: FILING OF CASH FLOW STATEMENT IN ADDITION TO THE FINANCIAL RESULTS FILED | FOR THE YEAR ENDED 318" MARCH 2020 OF TULIVE DEVELOPERS LIMITED.

This is in reference to the BSE letter dated 10" August 2020 outlining the following discrepancy in financial results filed for the year ended 31% March 2020:

1. Non-attachment of cash flow statement along with financial results.

Pursuant to the BSE letter dated 10" August 2020 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have enclosed herewith the cash flow statement along with the financial results for the quarter and year ended 31°t March 2020 which were approved by the board of directors and uploaded to BSE on 30" June 2020.

Thanking you,

DIN: 01608328

Yours faithfully,

Address: No. 1, 6th Avenue, Harrington Road, Chetpet, Chennai — 600031.

Tulive Developers Ltd., Regd. Office : # 21/22, "Loha Bhavan" PD Mello Road, Mumbai - 400 009. Corporate Office : No. 5, 1st Street, Subbarao Avenue, Chennai - 600 006 | Tel. : +91 44 6462 4777 | +91 44 2823 0223 Email : tulivechennai@gmail.com | www.tulivedevelopers.com

	Tulive Developers Limited Regd Office No.21/22, "LOHA BHAVAN" P. D. Mello Road, Mumbai 400009 CIN: L99999MH1962PLC012549 Website : www.tulivedevelopers.com; Telephone No.044-28230222; E-Mail : atul.acura@gmail.com STATEMENT OF AUDITED OF FINANCIAL RESULTS FOR THE		QUARTER /YEAR ENDED 31ST MARCH 2020
PART I			QUARTER ENDED		YEAR ENDED	(Rupees in Lakhs )
SNO	Particulars		AUDITED UNAUDITED AUDITED		AUDITED
I I	Revenue from Operations Other income	31.03.2020 - (15.25)	31.12.2019 - (15.62)	31.03.2019 1.50 15.01	31.03.2020 1.50 (37.03)	31.03.2019 6.00 69.10
ste	Total Income (I+I1)	(15.25)	(15.62)	16.51	(35.53)	75.10
IV	EXPENSES: (a) Employee benefit expenses (b) Depreciation and amortization expense (c) Other expenses Total expenses (IV)	1.42 0.23 3.76 5.41	1.35 0.29 5.81 TAS	0.98 0.63 15.75 17.36	5.47 1.11 19.85 26.43	2.58 2.52 27.86 32.96
Vv	Profit/(loss) before exceptional items, extra-ordinary items and tax (III-IV)	(20.66)	(23.07)	(0.85)	(61.96)
VI Vil	Exceptional items Profit/(loss) before extra-ordinary items and tax (V-VI)	-	-			42.14
VII.	Extra-ordinary items	(20.66) (0.56)	(23.07) 0.50	- (0.85) -	- (61.96) (30.96)	- 42.14
IX x	Profit / (Loss) before tax (VII-VIID) Tax expense	(21.22) (0.01)	(23.57)	(0.85)	(92.92) (0.16)	42.14 -
XI XII XIV	Profit / (Loss) for the period from continuing operations (IX-X) Profit/ (loss) from discontinued operations XII = Tax expenses of discontinued operations {Profit / (Loss) from Discontinued operations (after tax) (XII-XII) XV___ Profit/ (Loss) for the period (XI+XIV)	(21.23) - - - (21.23)	(23.57) - - - (23.57)	(0.85) - - - (0.85)	(93.08) - - - (93.08)	42.14 - - - 42.14
XVI	[Other Comprehensive Income Total Comprehensive Income for the period (XV+XVI) comprising Profit /	-	-	-	-	=
XVII PART II	__ (Loss) and other comprehensive income for the period ) XVII ' Paid up Equity share capital (face value of Rs. 10/- per equity share )	(21.23) 215.44	(23.57) 215.44	(0.85) 263.44	(93.08) 215.44	42.14 263.44
XIX XX	[Reserves excluding Revaluation Reserve as per Balance Sheet of Previous year Earnings per equity share (for continuing operation): (a) Basic (b) Diluted	5,040.19 (1.08) (1.08)	4,917.89 (1.12) (1.12)	6,549.89 (1.63) (1.63)	5,040.19 (4.32) (4.32)	6,549.89 1.63 1.63
PART II B	INVESTOR COMPLAINTS (a) Pending at beginning of quarter		NIL
	(b) Received during the quarter (c ) Disposed off during the quarter (d) Remaining unresolved at the end of the quarter		NIL NIL NIL
1 2 3 4 5 6	NOTES: The above audited Financial Results of the company were reviewed and recommended by Audit committee at the meeting held on 30.06.2020 and duly approved by the board of the directors at there meeting held on 30.06.2020 The audited financial statements have been prepared in accordance with the Indian Accounting Standard prescribed under Section 133 of the Companies Act, 2013 read with relevant Rules issued there under and other accounting principles Generally Accepted in India and the guidelines of SEBI. The Figures for the three months ended 31.03.2020 and the corresponding three months ended 31.03.2019 are the balancing figures between final audited figures in respect of full financial year and the figures as per the third quarter of respective finacial year. reclassified /regrouped wherever nessary to conform to the classification made in the last quarter/year Figures for the previous quarters/year have been The statement is as per Regulation No.33 of SEBI (Listing Obligations and Disclosure Requirments) Regulations 2015. The Company had bought back -II 4,80,000 Equity Share Face Value Rs. 10 /- Per share at the Cost of Rs.350/ Per Share
	Place: Chennai - 600 006 Date : 30.06.2020

any am 7/9 Z ¥ \ Director pps: 01608328 }

TULIVE DEVELOPERS LIMITED STATEMENT OF ASSETS AND LIABILITES AS AT 31st MARCH 2020

	TULIVE DEVELOPERS LIMITED
	STATEMENT OF ASSETS AND LIABILITES AS AT 31st MARCH 2020
			Rupees in Lakhs
S No	Particulars	Audited As at 31.03.2020	As at 31.03.2019
I	ASSETS :
	1 Non Current Assets :
	(a) Property, Plant and Equipments	2,928.32	2,929.44
	(b) Financial assets and Investments	22.00	22.00
	Total Non Current Assets	2,950.32	2,951.44
	2\Current Assets : Financial Assets
	(i) Trade Receivables	23.50	22.00
	(ii) Cash and Cash Equivalents	237.42	1,918.44
	(iv) Other Current Assets	1,844.03	1,926.87
	Total Current Assets	2,104.95	3,867.31
	TOTAL ASSETS	5,055.27	6,818.75
II	EQUITY AND LIABILITIES :
	1 EQUITY: (a) Equity Share Capital	215.63	263.44
	(b) Other Equity	4,837.28	6,649.84
	TOTAL EQUITY	5,052.91	6,913.28
	2\LIABILITIES	-	-
	1.Non Current Liabilities : 2.Current Liabilities :
	Financial Liabilities :
		1.11	4.09 0.29
	(i) Trade Payables		1.09
	(ii)Statutory Liabilities	- 1.25
	(iii)Current Liabilities	2.36
	TOTAL Equity and Liabilities	5,055.27
			5.47 6,918.75
		For TULIVE DEVELOPERS LTD
Place :Chennai

DIN:01608328

TULIVE DEVELOPERS LIMITED , MUMBAI -400009

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2020

TULIVE DEVELOPERS LIMITED ,	MUMBAI -400009
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2020
3 Particulars	(Rupees in Lakhs) 31.03.2020	30.03.2019
CASH FLOW FROM OPERATING ACTIVITIES :
Net Profit for the year after taxation Adjustments for depreciation	(93.09) 1.11	42.14 2.52
Adjustments for provision for taxation Net Income from Non -Current Investment	0.16 -	- 23.78
Net Income from Current Investment Other Income - Interest	24.89 0.59	(92.88)
Interest granted by Income tax Department Provision for doubtful Debts	- 12.73	- -
ADJUSTMENT FOR WORKING CAPITAL CHANGES	(53.61)	(24.44)
Decrease in trade payables Decrease in other payables	(2.99) (0.29)	3.34 0.22
Decrease in trade receivable Decrease in other current assets	11.23 82.83	(6.00) 14.28
Tax Refunds and Interest Granted	4.78	-
	95.56	11.84
FLOW FROM INVESTING ACTIVITIES: CASH Income from Investments
(i) Non - Current Investment (Net) (ii) Current Investment	(24.89) -	(23.78) 92.88
	(24.89)	69.10
FLOW FROM FINANCING ACTIVITIES :- BUY BACK OF SHARES CASH
(i) Decrease in paid up Shares Capital (Equity) (ii) Decrease in Resaves & Surplus	48:00 1,632.00 1,680.00	- -
DECREASE IN CASH AND CASH EQUIVALENTS	1,681.03	= 56.50
Opening Cash and Cash Equivalents as at 01.04.2019 Cash and Cash Equivalents as at 31.03.2020 Closing	1,918.45 237.42	1,861.94 1,918.44
Balance as on 31.03.2020	1,681.03	(56.50)
Place: Chennai Date: 30.06.2020	Director

R.RAMALINGAM & ASSOCIATES

Chartered Accountants

Independent Auditor's Report on Audited standalone Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ²⁰¹⁵

To: The Board of Directors, Tulive Developers Ltd 21/22, Loha Bhavan, PD Mello Road, Mumbai 400 009 Maharashtra

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying standalone quarterly financial results of Tulive Developers Limited for the quarter ended 31.03.2020 and the year to date results for the period from 01.04.2019 to 31.03.2020, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us these standalone financial results:

• i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit/loss? and other comprehensive income and other financial information for the quarter ended 31/3/2020 as well as the year to date results for the period from 1/4/2019 to 31/3/2020

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results These quarterly financial results as well as the year to date standalone financial results have

been prepared on the basis of the interim financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and forpreventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent: and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• * Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
• * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• * Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• * Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Date: 30.06.2020 Chartered Accountants UDIN: 20027154AAAABI7744 R.NO.010616S

CHENNAI-600014 for R Ramalingam & Associates

x R Ram@iting