Universal Cables Ltd. — Annual Report 2021

Jun 29, 2021

Regd. Office & Works: P.O. Birla Vikas. Satna - 485 005 (M.P.). India. P:07672-257121 to257127.414000 F: 07672-257131 · E: headoffice@unistar.co.in

Ref: UCL/SEC/2021-22 29th June, 2021

Yours Sincerely,

(Sudeep Jain) pany Secretary

~

For UNIVERSAL CABLES LIMITED

BSE Limited	National Stock Exchange of India Ltd.
Corporate Relationship Department	Listing Department,
Phiroz Jeejeebhoy Towers,	Exchange Plaza, C-1, Block G,
Dalal Street,	Bandra-Kurla Complex,
Mumbai - 400 001	Bandra (East),
	Mumbai - 400 051
Scrip Code : 504212	Scrip Code: UNIVCABLES EQ

Dear Sirs,

Subject: Outcome of Board Meeting held on 29th June, 2021

This is to inform you that the Board of Directors of the Company at its Meeting held today i.e. 29th June, 2021 has inter-alia, considered and:

• 1. Approved the Audited Standalone and Consolidated Financial Results of the Company for the year ended 31st March, 2021. The Audited Standalone and Consolidated Financial Results of the Company for the year ended 31st March, 2021 alongwith the Auditors' Report thereon by our Auditors Messers V. Sankar Aiyar & Co., Chartered Accountants and Declaration on the said Audited Standalone and Consolidated Financial Results duly signed by the Chief Financial Officer of the Company are enclosed herewith.
• 1. Recommended Dividend of ~ 1/- (One) per share (i.e. 10%) on equity shares of face value of ~ 10 /- each of the Company for the year ended 31st March, 2021, subject to the approval of the Shareholders in the ensuing Seventy Sixth (76th) Annual General Meeting of the Company. The dividend will be paid within thirty (30) days from the date of the approval of the Shareholders, subject to deduction of applicable Tax at Source as per the provisions of Income Tax Act, 1961 and rules made thereunder.

The Meeting of the Board of Directors of the Company commenced at 11.30 A.M. and concluded at 8.30 P.M.

Thanking you,

Encl: As above

V. SANKARAIYAR& CO .. CHARTERED ACCOUNT ANTS Flat No.202 & JO l., Saty arn Cinema Cornp lex Ranj it Nagar Community Centre, New Delhi - 110008 Tel.(011) 25702691, 25704639;. e-mail: newdelhi@vsa.co.in

INDEPENDENT AUDITOR'S REPORT ON THE AUDITED STANDALONE FINANCIA~ RES'UL TS OF UNIVERSAL CABLES LIMITED FOR THE QUARTER AND YEAR ENDED 31 8T MARCH, 2021

To The Board of Directors UNIVERSAL CABLES LIMITED

Opinion

We have audited the accompanying statement of Standalone Financial Results of Universal Cables Limited ("the Company"), for the quarter and year ended 31st March, 202 l. ("the Statement'), attached. herewith, being submitted by the Company pursuant to requirement of Regulation )3 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended ("the Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

• i) is presented in accordance with the requirement of Regulation 33 of the Listing Regulations; and · ·· .. · ·· · ·
• ii) gives a true and fair view in conformity with the applicable Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the Company for . the quarter and year ended 31st March, 2021.

· Basis for Opinlon

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities jar 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 C'.ICAI") together with the ethical requirements that are relevant to our audit of the ; standalone flnancia! results underthe provision.s.ofthe Act and the Rules made thereunder, and we have fulfilled our other ethica1reS,porisibiJities in accordance with these requirements and the ICAI's 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 Responsibility for the Standalone Financial Results

__ This statement has been prepared on the basis of the standalone annual Ind AS financia] statements. The Company's Board of Directors a:re responsible for the preparation and _ presentation .of the Statement that gives a true and fair view ofthe net profit and other comprehensive income and other financial information in accordance with the applicable Indian Accounting Standards (Ind AS) prescribed under section 133 of the Act, read with relevant Rules issued thereunder 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 the: assets of the Company and for preventing and detecting frauds and other irregulatfties: selection and appllcetior, 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors is 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.

Audifo.r's Responsibilities forJhe Audit of: the Standalone Financial Results

Our oqjecti:ves are to obtain reasonable assurance about 'Whether the Statement as a whole are free :frqm materia(misstatement, whether doe 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 ofthe Statement

As part ofan audit in accordance with SAs, we-exercise professionaljudgment and maintain professional skepticism throughout the audit We also: ·

• Identify and assess the risks of material 'misstatement of the Statement, 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 notdetecting a material misstatement resulting from fraud is higher than for one resulti~g from - 'error, as - fraud -may inV-olve collusion, . forgery, intentional omissions, - misrepresentatfons, or the override of infofrnal 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 our opinion on effectiveness of the Company's internal control. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of suchcontrols,

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Company's Board ofDirectorr
• Conclude on the appropriateness of the Board of.Directors' useof the going concern basis of'eccounting arid, 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 Statement 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. ijowev~,r, future events or, condi#On.~· ~ay cause the Company to cease to ' ontiue as a going concern, . ' ·, .. . '. ' ' . . . '
• . Evaluate the overall pre~entation, structure. and content of the Statement, including the disclosures, and whether-the Statement 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 scopeand timing ofthe audit and significant audit findings, including any significant deficiencies iri 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 independenceand to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, r~lated safeguards.

Other Matters

The Statement includes the.results for ihe Quarter ended Jl 5JMarch, 2021, being the balancing figure · between audited figures· in respect of the full financial year and the published year to date figures up to third. quarter of the current financial year which were subject to limited review by-us, ·

F.or V. Sankar Aiyar & Co~ Chartered Accountants ICAI Firm Regn, 109208W

Dated : 29th June, 2021 . Karthik Sri11itasan Partner(M:No.~514998) UDIN; 21514998AAAAGN'4706

Place : New Delhi

Universal Cables Limited

Regel. Office: P.O. Birla Vikas, Satna - 485 005 (M.P.) Phone: (07672) 257121 to 257127, 414000 - Fax: (07672) 416228 E-mail: headoffice@unistar.co.in - Website : www.anistar.co.in

CIN-L31300MP1945PLC001114

AN IS/ISO 9001, 14001 & 45001 COMPANY

Statement of Audited Standalone Financial Results for the Quarter and Year ended 31st March, 2021

SI.						(₹ in lakhs
No.	Particulars	Quarterended31.03.2021(Audited)	Quarterended31 12 2020(Unaudited)	Quarterended31.03.2020(Audited)	Yearended31.03.2021(Audited)	Yearended31.03.2020
$\mathbf{1}$	Income					(Audited)
	(a) Revenue from Operations(b) Other Income	42152.89132.61	37037 76343.19	37180.41108.04	128066.56	156895.69
	Total Income	42285.50	37380.95		1347.06	1492.52
$\overline{2}$	Expenses			37288.45	129413.62	158388.21
	(a) Cost of Raw Materials consumed(b) Purchases of Stock-in-Trade(c) (Increase)/Decrease in Inventories of Finished	32571.181310.50	24561.711722.92	23996.241447.34	87455.966195.36	102623-037378 03
	Goods, Work-in-Progress and Stock-in-Trade, etc.	(1413.59)	1184.00	574.75	112.21	(259.45)
	(d) Employee Benefits Expense(e) Finance Cost(f) Depreciation and Amortization Expense	2037.071620.02673.45	1845.021512.58692.75	1841.902145 45	6942.996283.38	7035.447726 20
	(g) Other Expenses	4451.89	471710	608.895305.83	2634.55	2253 10
	Total Expenses	41250.52	36236.08	35920.40	18277.42	23522.32
34	Profit before Tax (1-2)Tax Expense(a) Current Tax	1034.98284.99	1144.87	1368.05	127901.871511.75	150278.678109.54
	(b) Deferred Tax		13.27	354.78	298.26	2022.19
	Profit for the period (3-4)Other Comprehensive Income (Net of Tax)	(32.22)782.21	280.82850.78	(171.25)1184.52	(3.06)1216.55	(367.75)6455.10
	Items that will not be reclassified to Profit or Lossi) Equity Instruments through OCI(Net of Tax)	1939.65	353.00	(896.2!)	3788.68	(3824.05)
	(i) Re-measurement of Defined Benefit Plan(Net of Tax)	(176.97)	16.10	7.54	(63.81)	15610
	Total Other Comprehensive Income	1762.68	369.10	(888.67)	3724.87	(3667.95)
	Total Comprehensive Income for the period(Net of Tax) (5+6)	2544.89	1219.88	295.85	4941.42
	Paid-up Equity Share Capital(Face value of ₹ 10/- per Share)Other Equity	3469.83	3469.83	3469.83	3469.83	2787 153469.83
	Basic & Diluted EPS (₹) (not annualised)	2.25	2.45	3.41	45260.433.51	41012.9218.60

Universal 2 Cables

$\mathbf{I}$

SI.ParticularsNo.	31.03.2021	31.03.2020
$\Lambda$ASSETS	(Audited)	(Audited)
NON-CURRENT ASSETS
Property, Plant and EquipmentCapital Work-in-Progress	16227.11
Investment Property	12.23	14729.56
Intangible Assets	2468.23	1742.38
Financial Assets	9.41	2492.46
Investments		19.96
Trade Receivables	16427.80
Others Financial Assets		12471.43
Non-Current Tax Assets (Net)	447.46	346.67
Other Non-Current Assets	257.30	440.79
	74.12	79.15
Total Non-Current Assets		226.60
CURRENT ASSETS	35923.66	32549.00
Inventories
Financial Assets	26034.95
Trade Receivables		26685.86
Cash and Cash Equivalents	80297.63
Other Bank Balances	383.01	80244.21
Other Financial Assets	282.64	203.26
Other Current Assets	1590.75	251 67
	4454.24	2254.34
Total Current Assets	113043.22	3821.58
Total Assets		113460.92
EQUITY AND LIABILITIES	148966.88	146009.92
EQUITY
Equity Share Capital
Other Equity	3469.83	3469.83
Total Equity	45260.43	41012.92
LIABILITIES	48730.26	44482.75
NON-CURRENT LIABILITIES
Financial Liabilities
Borrowings
Other Financial Liabilities	8670.80
Other Non-Current Liabilities	43.20	11538 16
Provisions	30.31	36.85
Deferred Tax Liabilities (Net)	868.91	34.27
	1319.67	866.931155.04
Total Non-Current Liabilities	10932.89	13631.25
CURRENT LIABILITIES
Financial Liabilities
Borrowings
Trade Payables	43526.60	44876.39
Payable to micro enterrises and small enterprises
Other payable	1530.39	1267.70
Other Financial Liabilities	30349.63	30716.29
Other Current Liabilities	11732.86	9164.19
Provisions	2057.80	1701.56
Current Tax Liabilities (Net)	106.45	106.77
Total Current Liabilities		63.02
	89303.73	87895.92
Total Equity and Liabilities	148966.88	146009.92

Audited Statement of Assets and Liabilities as at 31st March, 2021

Universal & Cables

r

$\frac{\chi}{\chi}$

UNIVERSAL CABLES LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED $\rm H^{81}$ MARCH, 2021 F.

	Description		2020-21		2019-20
A.	CASH FLOW FROM OPERATING ACTIVITIES	(₹ in lakhs)	(7 in lakhs)	(7 in lakhs)	(< in lakhs)
	Net Profit before Taxation
	Adjustments for:		1511.75
	Depreciation				8109.54
		2634.55		225310
	Loss/(Profit) on Sale/Disposal of Property, Plant & Equipment (Net)Interest Income	(24.90)		(64.08)
	Dividend Income	(1911)		(2690)
	Rent Income	(390.76)		(59438)
	Interest Expense	(495, 14)		(479.52)
		5566.50		6766.15
	Unrealised Forex Loss/(Gain) on Borrowings	(227.95)		113.58
	Remeasurements of net Defined Benefit Plans	(8527)
			6957.92	208.60
	Operating Profit before Working Capital ChangesMovement in Working Capital:		8469.67		8176 55
	Increase/(Decrease) in Trade Payables				16286.09
		(103.97)		7063 66
	Increase/(Decrease) in Other Financial LiabilitiesIncrease/(Decrease) in Provisions	(191.38)		1297 15
	Increase/(Decrease) in Other Liabilities	1.66		(134.78)
		352.28
	(Increase)/Decrease in Trade Receivables	293 25		482.56
	(Increase)/Decrease in Inventories	650.91		(1958967)
	(Increase)/Decrease in Other Financial Assets(Increase)/Decrease in Other Assets	632 79		(425.94)
		(610.96)		(662.24)
	Cash Flow from Operations		1021.58	1640.64
	Direct Taxes paid		9491.25		(10328.62)
			(517.97)		5957.47
	Net cash from/(used in) Operating activities		8973.28		(2183.25)3774.22
	CASH FLOWS FROM INVESTING ACTIVITIES
	Purchase of Property, Plant & Equipments
	Proceeds from sale of Property, Plant & Equipment	(256982)		(5416.80)
	Interest Income	64.91		91.52
	Investment in Term Deposits With Banks (Net of Redemption)	29.21		1521
	Rent Received	(12.14)		2.75
	Dividend Received	495 14		479 52
	Net cash from/ (used in) Investing activities	390.76		594.38
	CASH FLOWS FROM FINANCING ACTIVITIES		(1601.94)		(4233.42)
	Proceeds from Long-term Borrowings
	Repayment of Long-term Borrowings	2556.14		2425.40
	Net Proceeds from Short-term Borrowings	(2204.05)		(2204.26)
	Interest Paid	(131715)		7672 43
	Dividend Pard	(5532.62)		(6619.39)
	Net cash from/(used in) Financing activities	(69391)		(831.63)
			(7191.59)		442.55
	Net increase/(Decrease) in Cash and Cash equivalents (A+B+C)
	Cash and Cash Equivalents at the beginning of the year		179.75		(16.65)
	Cash and Cash Equivalents at the end of the year		203.26		21991
			383.01		203.26
	Components of Cash and Cash Equivalents
	Cash in Hand
	Cheques Drafts in Hand		2.68		339
	With Banks:		150.90		140.52
	On Current Accounts
			229.43		59.35
			383.01		203 26

Note: The Cash Flow Statement has been prepared under the 'Indirect method' as set out in Indian Accounting Standard - 7 on

$\frac{\partial f}{\partial x}$

$\lceil 3 \rceil$

Notes:

• 1. The Board of Directors has recommended a dividend at the rate of $\bar{\tau}$ 1/- per Equity Share of face value of $\bar{\tau}$ 10/- each for the year ended 31st March, 2021. The payment of dividend is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company
• 1. The Company has only one reportable primary business segment i.e. Electricals and others Cables, Capacitors, Wires and Conductors, etc. and Turnkey Projects predominantly relating thereto, based on guiding principles given in Ind AS 108 "Operating Segements" notified pursuant to Companies (Indian Accounting Standards) Rules, 2015. Accordingly, the disclosure requirements as per Ind AS 108 are not applicable.
• $3.$ The figures for the last quarter ended 31st March, 2021 and 31st March, 2020 are the balancing figures between the audited figures in respect of the full financial years and the published unaudited year to date figures upto third quarter of the respective financial years. The figures upto the end of the third quarter were only reviewed and not subjected to audit by
• During the quarter, the Company's manufacturing operation and turnkey projects execution gradually recovered further $4.$ from the economic slowdown caused by COVID-19 pandemic. As per the current assessment, the Company does not foresee incremental risk on carrying amounts of inventories and recoverability of trade receivables and other assets given the measures being pursued to safeguard/mitigate related risks. However, the eventual outcome due to ongoing said Covid-19 pandemic may be different from those estimated as on the date of approval of these financial results.
• 1. The Figures of the previous periods are re-elassified/ re-arranged, wherever necessary, to correspond with the current
• 1. The above Financial Results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on 29th June, 2021.

AMENKE TOOVE REPORTOF EVEN DATE

Place: Kolkata Date: 29th June, 2021

Kenton Sringer 514998 GANKAR AIYAR & NEW DELHI FRN 109208W RTERED ACCOUNT

For Universal Cables Limited

Viachte

(HARSH V. LODHA) Chairman DIN: 00394094

V. SANKAR AIYAR & CO. CHARTERED ACCOUNT ANTS Flat No.202 & 30 I, Satyam Cine ma Complex Ranjit Nagar Community Centre, New Delhi - 11000·8 Te I. (0 I I) 25702691, 25 704639; e-rnai I: new de l'hi@vsa.co. in

INDEPENDENT AUDITOR'S REPORT ON THE AUDITED CONSOLIDATEI> FINANCIAL RESULTS OF UNIVERSAL .CABLES LIMITED FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021

To The Boarrl of Directprs UNIVERSAL CABLES LIMITED

Rep.ort on audit of Consolidated FinanciaJ Results

Opinion

We have audited the accompanying statement of consolidated financial results of Universal Cables Limited ("the Company") and its associate .and a joint venture for the quarter and year ended 31 51March, 2021 ("the Statement') being submitted by the Company pursuant to requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended ("the Listing Regulations"). ·

.. In our opinionand to the best of our information and accordi~g to the explanations given tq ' us, the Statement:

Birla.Furukawa Fibre Optics Private Limited	Joint Venture
Vindhya Telelinks Ltd	Associate

· i) Includes the results of the following entities:

• ii) are presented in accordance with the requirement of Regulation 33 of the. Listing: Regulations; and
• iii) gives a true .and fair view in conformity with the applicable Indian Accounting: Standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the Company and i its associate and a joint venture for the quarter arid year ended 31st March, 2021. ·

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; as amendedI''the Act'). Our responsibilities under those Standards are furher described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial '.Results" section of our report. We are independent of the Company in accordance wi\h the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the consolidated financial results under theprovisions of the Act and the Rules made thereunder; and we have fuJfi;lled our other ethicaLresponsihiliti'es in accordance with these requirements and the: ICAI's Code of Ethics. We believe that the audit evidence obtained 'by us and other auditors in terms '.of their reports referred to in "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

: f

Management's Responsibility for the Consolidated Financial Results

This statement has been prepared on the basis ofthe consolidated annual financial statements. The Company's Board of Directors are responsible for the preparation of the Statement that gives a true and fair view of the net· profit and other comprehensive income and other financial information of the Company including its associate and a joint venture in accordance with the applicable Indian Accounting Standards (Ind AS) prescribed under section 133 of the Act, reaa'. with relevant Rules issued thereunder and other accounting principles general ly accepted /frl India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the Company and of its, associate and. a joint venture are responsible formaintenanc~ of adequate accounting records in accordance with the provisions of the. Act kor safeguardfog,the assets of the Company and of its associate and a joint venture and for preventing 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 intern") . financial controls, that were operating effectively for ensuring the. accuracy and completeness of the accounting records, relevant to the preparation and presentation ofthe Statement thaJ give a true. and fair view andlare free from material rnisstatemenr, whether due to fraud o'.r error, which have been used for the purpose of presentation of the Statement by the Board of Directors of the Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the Company and its associate and a joint venture are responsible for assessing the ability of the Company and it~ associate and a joint venture tq 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.

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

Our objectives are to obtain reasonable assurance about whether the Statement as a whole a~e 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 the Statement. ·

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professionalskepticism throughoutthe audit. We also: ·

• Identify and assess the risks of material misstatement of the Statement, 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 forone resulting from error, as fraud may involve collusion, forgery, intentional omissions, misreptesentations, 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 our opinion on effectiveness of the Company and of its associate and a joint venture'] . internal control. Under Section 143(3)(0 of'. the Act, we are also responsible for expressing our opinion on whether the Company and of its associate and a joint venture has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.' · •
• Evaluate the appropriateness of accounting policies used and the reasonableness of aceounting estimates arid related disclosuresmade by the Board of Directors. i •
• Conclude on the appropriateness of the Boardl of l)irectors' use of the. going conGeJ 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 tM ability of the Company and of its associate and a joint venture 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 'disclcsures in the Statement 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 and its associate and a. joint venture. to cease to . continue as a. going concern. 1 •
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events
• in a manner that achieves fair presentation. · Obtain sufficient appropriate audit evidence regarding .tlie- financial results/ financial information of the Compauy and of it$ a$sociattj and a joint venture of which we. are th~ independent auditors and whose financial information. we have audited, to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entities included in th~ Statement of which we are the independent auditors. · •

We communicate with those charged with governance of the Company and such other entities included in the consolidated financial results of which we are . the independent auditors regarding, among other matters, the planned scope and timing of the audit an]! 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. · We also performed: procedures. in accordance with the circular issued by the SEBI under

Regulation 33(). of the Listing Regulations to the extnt applicable, ·

Other Ma.tters

1. We did not audit the financial results of an associate, which reflect total net profit after tax of Rs. 2601 .60 lacs and Rs. 5765.58 lacs and other comprehensive income of Rs. 1843.53 lacs and Rs. 4774.91 lacs for the quarter and for the year ended Marclji 31, 2021 respectively, as considered in the consolidated results included in the statement. Our report on the staternent.. in so far as it relates to the amounts ana disclosures included in respect of this associate, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph above. · ··

Our conclusion on the Statement is not modified in respect of these matters.

1. The Statement includes the consolidated results for the Quarter ended 3 ls.t March, 2021 being the balancing figure between audited figures inrespect of' the full financial . year and the published year to date figures up to third quarter of the current finaricial year which were subject to limitetl review by us.

.For V. Sankar Aiyar & C~. Chartered Accountants ICAI Firm Regn. 109208W

.,

' /~·Jc- ;;.._'.~~I

11 June, 2021 Karthik Srlnlvasan Partner (M.No.51499~) UDL'V: 21514998AAAAG07444

Place : New Delhi Dated : 29'

ſ ा

Universal Cables Limited Regd. Office: P.O. Birla Vikas, Saina - 485 005 (M.P.) Phone: (07672) 257121 to 257127, 414000 - Fax: (07672) 416228

F-mail: headoffice@anistar.co.in - Website : www.unistar.co.in

CIN-L31300MP1945PLC001114

AN IS/ISO 9001, 14001 & 45001 COMPANY

Statement of Audited Consolidated Financial Results for the Quarter and Year ended 31" March, 2021

			(₹ in lakhs)
SI.No.1	Particulars	Quarterended31.03.2021(Audited)	Quarterended31.12.2020(Unaudited)	Quarterended31.03.2020.(Audited)	Yearended31.03.2021(Audited)	Yearended31.03.2020(Audited)
	Income
	(a) Revenue from Operations	42152.89	37037.76	37180.41
	(b) Other Income	132.61	343.19	108.04	128066.56	156895.69
	Total Income	42285.50	37380.95	37288.45	1347.06	1492.52
$\overline{2}$	Expenses				129413.62	158388.21
	(a) Cost of Raw Materials consumed
	(b) Purchases of Stock-in-Trade	32571.18	24561.71	23996.24	87455.96	102623.03
	(c) (Increase)/Decrease in Inventories of Finished	1310.50	1722.92	1447.34	6195.36	7378.03
	Goods, Work-in-Progress and Stock-in-Trade, etc.	(1413.59)	1184.00	574.75	112.21	(259.45)
	(d) Employee Benefits Expense	2037.07	1845 02
	(e) Finance Cost	1620.02	1512.58	1841.902145 45	6942.99	7035.44
	(f)Depreciation and Amortization Expense	673.45	692.75	608.89	6283.38	7726.20
	(g) Other Expenses	4451.89	4717.10	5305.83	2634.55	2253.10
	Total Expenses	41250.52	36236.08	35920.40	18277.42	23522.32
	Profit before Share in Profit/(Loss) in				127901.87	150278.67
	Associates and Joint Venture, and Tax (1-2)	1034.98	1144.87	1368.05	1511.75	8109.54
	Share in Profit/(Loss) in Associate and	3437.51	1581.01
	Joint Venture			2784.65	7445.21	6569.54
	Profit before Tax (3+4)	4472.49	2725.88	4152.70
	Tax Expense				8956.96	14679.08
	(a) Current Tax	284.99	13.27
	(b) Deferred Tax	842.66	712.88	354.78	298.26	2022.19
	Profit for the period (5-6)	3344.84	1999.73	3845.85	1936.06	3649.35
	Other Comprehensive Income (Net of Tax)			(47.93)	6722.64	9007.54
	Items that will not be reclassified to Profit or Loss
	i) Equity Instruments through OCI (Net of Tax)
	ii) Re-measurement of Defined Benefit Plan	1939.65	353.00	(896.21)	3788.68	(3824.05)
	(Net of Tax)	(176.97)	16.10	7.54	(63.81)
	iii) Share in Associates and Joint Venture					156.10
	(Net of Tax)	1862.88	961.81	(3691.92)	4794.26	(5367.27)
	Total Other Comprehensive Income	3625.56	1330.91	(4580.59)	8519.13	(9035.22)
	Total Comprehensive Income for the period(Net of Tax) (7+8)	6970.40	3330.64
	Paid-up Equity Share Capital			(462852)	15241.77	(2768)
	(Face value of ₹ 10/- per Share)	3469.83	3469.83	3469.83	3469.83	3469.83
	Other Equity
	Basic & Diluted EPS (₹) (not annualised)				110097.23	95549.37
		9.65	5.76	(0.14)	1938	2506

Universal 3 Cables

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Statement of Audited Consolidated Assets And Liabilities

SI.No.	Particulars	31.03.2021(Audited)	31.03.2020(Audited)
A	ASSETS
	NON-CURRENT ASSETS
	Property. Plant and Equipment	16227.11	14729.56
	Capital Work-in-Progress	12.23	1742.38
	Investment Property	2468.23	2492.46
	Intangible Assets	9.41	19.96
	Investments accounted for using the Equity Method	90296.60	76451.20
	Financial Assets
	InvestmentsTrade Receivables	12231.99	8275.62
	Others Financial Assets		346.67
	Non-Current Tax Assets (Net)	447.46	440.79
	Other Non-Current Assets	257.30	79.15
	Total Non-Current Assets	74.12	226.60
	CURRENT ASSETS	122024.45	104804.39
	Inventories
	Financial Assets	26034.95	26685.86
	Trade Receivables
	Cash and Cash Equivalents	80297.63	80244 21
	Other Bank Balances	383.01	203.26
	Other Financial Assets	282.64	251 67
	Other Current Assets	1590.754454.24	2254.34
	Total Current Assets	113043.22	382158113460.92
	Total Assets	235067.67	218265.31
B	EQUITY AND LIABILITIESEQUITYEquity Share CapitalOther Equity	3469.83	3469.83
		110097.23	95549.37
	Total Equity	113567.06	99019 20
	LIABILITIESNON-CURRENT LIABILITIESFinancial LiabilitiesBorrowingsOther Financial LiabilitiesOther Non-Current LiabilitiesProvisionsDeferred Tax Liabilities (Net)	8670.8043.2030.31868.9122583.66	11538.1636.8534 27866 9318873.98
	Total Non-Current Liabilities	32196.88	31350.19
	CURRENT LIABILITIESFinancial Liabilities
	BorrowingsTrade Payables	43526.60	4487639
	Payable to micro enterrises and small enterprises	1530.39	1267.70
	Other payable	30349.63	30716.29
	Other Financial Liabilities	11732.86	9164.19
	Other Current Liabilities	2057.80	1701.56
	Provisions	106.45	106.77
	Current Tax Liabilities (Net)		63 02
	Total Current Liabilities	89303.73	87895.92
	Total Equity and Liabilities	235067.67	7183653

Universal 3 Cables

$\frac{\mathcal{X}}{}$

UNIVERSAL CABLES LIMITED

			$2020 - 21$	2019-20
	Description		(7 in lakhs) (7 in lakhs)	(₹ in lakhs)	(₹ in lakhs)
A.	CASH FLOW FROM OPERATING ACTIVITIES
	Net Profit before Taxation		1511.75		8109.54
	Adjustments for:
	Depreciation	2634.55		2253.10
	Loss/(Profit) on Sale/Disposal of Property, Plant & Equipment (Net).	(24.90)		(64.08)
	Interest Income	(19.11)		(2690)
	Dividend Income	(390.76)		(594.38)
	Rent Income	(495, 14)		(479.52)
	Interest Expense.	5566.50		6766 15
	Unrealised Forex Loss/(Gam) on Bottowings	(227.95)		113.58
	Remeasurements of net Defined Benefit Plans	(8527)		208 60
			6957.92		8176.55
	Operating Profit before Working Capital Chauges		8469.67		16286.09
	Movement in Working Capital:
	Increase/(Decrease) in Trade Payables	(103.97)		7063 66
	Increase/(Decrease) in Other Financial Liabilities	(194.38)		1297.15
	Increase/(Decrease) in Provisions	166		(13.178)
	Increase/(Decrease) in Other Liabilities	352.28		482.56
	(Increase)/Decrease in Trade Receivables	293 25		(19589.67)
	(Increase)/Decrease in Inventories	650.91		(425.94)
	(Increase)/Decrease in Other Financial Assets	632 79(610.96)		(662.24)1640.64
	(Increase)/Decrease in Other Assets		1021.58		(1032862)
			9491.25		5957.47
	Cash Flow from Operations		(517.97)		(2183.25)
	Direct Taxes paid		8973.28		3774.22
	Net cash from/(used in) Operating activities
B.	CASH FLOWS FROM INVESTING ACTIVITIES
	Purchase of Property, Plant & Equipments	(256982)		(5416.80)
	Proceeds from sale of Property. Plant & Equipment	64.91		91.521521
	Interest Income	29.21		2.75
	Investment in Term Deposits With Banks (Net of Redemption).	(1214)195.14		479.52
	Rent Received	390.76		594.38
	Dividend Received		(1601.94)		(4233 42)
	Net cash from/ (used in) Investing activities
$\mathcal{C}$ .	CASH FLOWS FROM FINANCING ACTIVITIES
	Proceeds from Long-term Borrowings	2556 14		2425 40
	Repayment of Long-term Borrowings	(220405)		(2204.26)
	Net Proceeds from Short-term Borrowings	(131715)		7672.43(6619.39)
	Interest Paid	(5532.62)		(831.63)
	Dividend Paid	(69391)			442.55
	Net cash from/(used in) Financing activities		(7191.59)
	Net increase/(Decrease) in Cash and Cash equivalents (A+B+C)		179.75		(16.65)
	Cash and Cash Equivalents at the beginning of the year		203.26		21991
	Cash and Cash Equivalents at the end of the year		383.01		203 26
	Components of Cash and Cash Equivalents		2.68		3.39
	Cash in Hand		150.90		14052
	Cheques/Drafts in Hand
	With Banks:
	On Current Accounts		229.43		59.35203 26
			383.01

CASH FLOW STATEMENT FOR THE YEAR ENDED 3151 MARCH, 2021

Note: The Cash Flow Statement has been prepared under the 'Indirect method' as set out in Indian Accounting Standard - 7 on Cash Flow Statements

$\mathcal{X}_{-}$

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Notes:

• 1. The above Financial Results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on 29th June, 2021.
• 1. The Company has only one reportable primary business segment i.e. Electricals and others Cables, Capacitors, Wires and Conductors, etc. and Turnkey Projects predominantly relating thereto, based on guiding principles given in Ind AS 108 "Operating Segements" notified pursuant to Companies (Indian Accounting Standards) Rules, 2015. Accordingly, the disclosure requirements as per Ind AS 108 are not applicable.
• The figures for the last quarter ended 31st March, 2021 and 31st March. 2020 are the balancing figures between the $3.$ audited figures in respect of the full financial years and the published unaudited year to date figures upto third quarter of the respective financial years. The figures upto the end of the third quarter were only reviewed and not subjected to audit by the Auditors of the Company.
• During the quarter, the Company's manufacturing operation and turnkey projects execution gradually recovered further $\overline{4}$ . from the economic slowdown caused by COVID-19 pandemic. As per the current assessment, the Company does not foresee incremental risk on carrying amounts of inventories and recoverability of trade receivables and other assets given the measures being pursued to safeguard/mitigate related risks. However, the eventual outcome due to ongoing said Covid-19 pandemic may be different from those estimated as on the date of approval of these financial results.
• 1. The Figures of the previous periods are re-classified/re-arranged, wherever necessary, to correspond with the current period's classification and disclosure.

Anmexine to our Reportof Even OATE

Kan Min Somingson

Place: Kolkata Date: 29th June, 2021

For Universal Cables Limited

1 V todde

(HARSH V. LODHA) Chairman DIN: 00394094

Regd. Office & Works : P.O. Birla Vikas, Satna - 485 005 (M.P.). India . P: 07672-257121 to 257127. 414000 F: 07672-257131 · E: headoffice@unistar.co.in

Ref: UCL/SEC/2021-22 29th June, 2021

BSE Limited	National Stock Exchange of India Ltd.
Corporate Relationship Department	Listing Department,
Phiroz Jeejeebhoy Towers,	Exchange Plaza, C-1, Block G,
Dalal Street,	Bandra-Kurla Complex,
Mumbai - 400 001	Bandra (East),
	Mumbai- 400 051

Scrip Code : 504212 Scrip Code: UNIVCABLES EQ

Dear Sirs,

Subject: Declaration on Annual Audited Standalone and Consolidated Financial Results

[Pursuant to Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015}

The Board of Directors of the Company at its Meeting held on 29th June, 2021 has approved the Audited Standalone and Consolidated Financial Results of the Company for the year ended 31st March, 2021 and we hereby declare that the Statutory Auditors of the Company, M/s. V. Sankar Aiyar & Co., Chartered Accountants, (FRN: 109208W) have issued an Audit Report with unmodified opinion thereon. ·

This declaration is issued in compliance with the provisions of the Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, read with SEBI Circular No. CIR/CFD/CMD/56/2016 dated 27th May, 2016.

This Declaration may kindly be taken on your records.

Thanking you,

Yours Sincerely, For UNIVERSAL CABLES LIMITED

'hesh Ladia) Chi f Financial Officer