Visagar Polytex Ltd — Interim / Quarterly Report 2021

Nov 12, 2021

12th November, 2021

The Manager	The National Stock Exchange of India
BSE Limited	Limited
Corporate Relationship Department	Exchange Plaza, Plot No. C/1, G Block,
1s Floor, New Trading Ring,	Bandra Kurla Complex,
Rotunda Building, P.J Towers,	Bandra (E), Mumbai - 400 051
Dalal Street, Fort, Mumbai -400001
	ISIN Code- INE370E01029
BSE Scrip ID - VIVIDHA
BSE Scrip Code- 506146

Sub: Adoption of Unaudited Financial Resultsfor the quarter ended 30th September, 2021

Dear Sir,

In compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit Standalone Unaudited Financial Results alongwith the Limited Review Report for the quarter ended 30th September, 2021.

Kindly take the same on your record and oblige.

Thanking You,

Yours Faithfully

For Visagar Polytex Limited

(Tilokchand Kothari) MUMBA3 Managing Director DIN: 00413627

Encl: A/a

VISAGAR POLYTEX LIMITED

Regd. Of: 907/908, Dev Plaza, S.V. Road, Andheri (W), Mumbai 400 058. Tel.: (022) 6742 4815 Email: contact@visagar.com Website: www.visagarpolytex.in CIN: L65599OMH1983PLC030215

STATEMENT OF STANDALONE UN-AUDITED FINANCIAL RESULT FOR THE QUARTER AND HALF YEAR ENDED 30.09.2021

		PART I				(In Lacs)
			QUARTER ENDED		HALF YEAR ENDED		YEAR ENDED
Sr. No.	PARTICULARS	30.09.2021	30.06.2021	30,09,2020	30.09.2021	30.09.2020	31.03.2021
1	Income		UN-AUDITED		UN-AUDITED		AUDITED
a)	Revenue from Operations
চ্য	Other Income	138.95	72.36	140.85	211.31	283.94	481.40
	Total Income (a+b)	138.95	72.36	140.85			30.11
$\overline{\mathbf{z}}$	Expenses				211.31	283.94	511.51
a)	Cost of Materials Consumed	2.68	2.19		4.87		18.47
ы	Purchase of stock -in-trade	138.28	64.95	147.90	203.23	335.57	467.21
c)	Changes in inventories of finished goods, work-in- progress and stock-in-trade.	(9.94)	(32.40)	(25.46)	(42.34)	(37.79)	(97.09)
$\overline{d}$	Employees benefits expenses	7.61	5.36	1.71	12.97	1.96	8.22
e)	Finance Costs	26.08	0.88	9.13	26.96	9.15	16.69
ŋ	Depreciation and amortisation expenses	14.12	14.12		28.24		64.36
g)	Other Expenses	11.46	10.15	2.92	21.61	10.56	29.47
	Total Expenditure (a+b+c+d+e+f+g)	190.29	65.25	136.23	255.54	319.45	507.33
$\overline{\mathbf{3}}$	Profit / (Loss) from Ordinary activities before exceptional items, extraordinary items and tax (1- 2)
$\overline{\mathbf{4}}$	Exceptional items	(51.34)	7.11	4.62	(44.23)	(35.51)	4.18
5	Profit / (Loss) from ordinary activities before tax $(3-4)$	(51.34)	7.11	4.62
$\overline{6}$	Tax expenses-Current tax				(44.23)	(35.51)	4.18
	- Defered tax
	Total tax
$\overline{7}$	Net profit/ (Loss) for the period from continuing operations (5-6)	(51.34)	7.11	4.62	(44.23)	(35.51)	4.18
$\overline{\mathbf{8}}$	Profit/(Loss) from discontinued operations
9	Tax expense of discontinued operations
10	Profit/(Loss) from discontinued operations after tax $(8-9)$
11	Profit/(Loss) for the period(7+10)	(51.34)	7.11	4.62	(44.23)	(35.51)	4.18
12	Share of Profit / (Loss) of Associates
13	Minority Interest
14	Consolidated Net Profit/ (Loss) of the period	(51.34)	7.11	4.62	(44.23)	(35.51)	4.18
15	Other Comprehensive Income
16	Total Comprehensive Income	(51.34)	7.11	4.62	(44.23)	(35.51)	4.18
17	Face Value	1.00	1.00	1.00	1.00	1.00	1.00
18	Paid-up equity share capital (Rs.Lacs)	2,927.01	2,927.01	2,462.01	2,927.01	2,927.01	2,927.01
19	Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year
20	Earnings Per Share (for continuing and discontinued operations)
	a) Basic	0.00	0.00	0.00	(0.01)	(0.01)	0.00
	b) Diluted	0.00	0.00	0.00	(0.01)	(0.01)	0.00

Note:-

......
The above Un-audited results were reviewed by Audit Committee and approved at the meeting of Board of Directors of the Company held on 12th
November, 2021. $\mathbf 1$

The Company operates in single segment. Hence no segment wise figures are published. $\overline{2}$

Some of the retail units of the company have been closed down and the stock of those stores has been taken at the realised value. Therefore, there has
been exceptional loss. $\overline{\mathbf{3}}$

The Statutory Auditors of the Company have carried out limited review of Unaudited Financial Results for the quarter & Six months ended 30th
September, 2021 as required by SEBI (Listing Obligations & Disclosure Requirement concerned Stock Exchange.

Figures pertaining to previous periods/year have been regrouped/reclassified wherever found necessary to conform to current period's/year's 5 presentation.

• The above Unaudited Financial Results will be available on the website of the Company - www.visagarpolytex.in and BSE - www.bseindia.com and NSE www.nseindia.com.

Place: Mumbai

Date: 12.11.2021

For Visagar Polytex Limited (Tilokchand Kothari) Managing Director DIN: 00413627

VISAGAR POLYTEX LIMITED

Regd. Off.: 907/908, Dev Plaza, S.V. Road, Andheri (W), Mumbai 400 058. Tel.: (022) 6742 4815 Email: contact@visagar.com Website : www.visagarpolytex.in CIN : L655990MH1983PLC030215

STATEMENT OF ASSETS & LIABILITIES AS AT 30TH SEPTEMBER, 2021

	(In Lakhs)
	Particul ars	As at 30.09.2021 (Unaudited)	As at 31.03.2021 (Audited)
A	ASSETS
1	Non-current assets
a	Property, Plant and Equipment
b	Intangible Assets	465.27	492.84 0.08
c	Financial Assets	0.07	-
	i) Investments	0.26	0.26
	ii) Loans
	iii) Other Financial Assets
d	Deferred tax assets (net)
e	Other Non-Current Assets	12.73 -	12.73 -
	Total Non-Current Assets
2		478.33	505.91
	CURRENT ASSETS
a	Inventories Financial Assets	1057.78	1015.44
b	i) Investments		-
	ii) Trade receivables	- 1393.69	1,776.32
	iii) Cash and cash equivalents
	iv) Other Balances with Banks	6.00	0.04
		10.63	20.33
	v) Other Financial Assets	80.84	107.95
c	Other Current Assets
	Total Current Assets	94.20	92.65
	TOTAL ASSETS (1+2)	2643.14	3012.73
		3,121.47	3,518.64
B	EQUITY AND LIABILITIES
1	Equity Equity Share capital
a		2,927.00	2,927.00
b	Other Equity	-
	i) Reserves & Surplus ii)	(1072.42)	(1,028.20)
	convertible share warrant	121.80	121.80
	Total Equity
2	Non-Current Liabilities	1976.38	2,020.60
a	Financial Liabilities
	i) Borrowings
	ii) Other Financial Liabilities	985.85	947.47 -
b	Provisions		-
c	Deferred Tax Liabilities (Net)	-	-
	Total Non-Current Liabilities
3	Current Liabilities	985.85	947.74

	Total Current Liabilities TOTAL- EQUITY & LIABILITIES (1+2+3)	159.24 3121.47	550.30 3,518.64
d	Other Current Liabilities		-
c	Current Tax Liabilities		-
b	Provisions	37.84	30.87
	iii) Other Financial Liabilities	12.53	23.34
	ii) Trade Payables	108.87	496.09
	i) Borrowings		-
a	Financial Liabilities

Place : Mumbai Date: 12.11.2021

VISAGAR POLYTEX LIMITED

CASH FLOW STATEMENT FO FOR THE HALF YEAR ENDED 30.09.2021

PARTICULARS	NOTE	30.09.2021	31.03.2021
PROFIT BEFORE TAX		(4422052)	418607
Misc Income
DEPRECIATION		2823970	6436856
OPERATING PROFIT BEFORE OPERATING PROFIT		(1598082)	6855463
CHANGE IN WORKING CAPITAL CHANGE			-
OTHER NON CURRENT INVESTMENTS OTHER CURRENT		-	-
Non current financial loan assets loan assets		2712861	(2664153)
Inventories		(4234531)	(9708896)
Trade receivable		38263363	(6913433)
Change in Fixed Assets		(66727)
Current financial loan assets		-	(125328)
Other current assets		(154670)	424304
Current tax assets		-	-
Current finacial borrowing		3810987	(5763612)
Trade payables		(38723365)	17538970
Other finacial liabilities		697775	215989
Other current liabilities		(1080715)	(466695)
Net change in working capital capital		(373104)	(607391)
Income tax payable		-	-
Cash flow from operating activities from	a	(373104)	(607391)
Purchase of property plant and equipement			(231714)
Cash flow from investing activities	b	-	(231714)
Cash flow from financing activites from
Proceeds form issue of share capital	c	-	-
	a+b+c	(373104)	(839105)
Cash op.balance		2037589	2876694
Cash cl. Balance		1664484	2037589
Cash & cash at the end of year		(3,70,105)	(839105)

Place: Mumbai Date: 12.11.2021

To the Board of Directors of Visagar Polytex Limited

LIMITED REVIEW REPORT TO VISAGAR POLYTEX LIMITED

1. We have reviewed the accompanying statement of Standalone Unaudited Financial Results of Visagar Polytex Limited ("the Company") for the quarter ended 30th September 2021, being submitted by the company, pursuant to the Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (As amended).

2. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.

3. 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 is limited primarily to inquiries of company personnel and analytical procedures 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.

4. 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 accounting standards 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 S. C. Mehra & Associates LLP

Chartered Accountants Firm Registration No. 106156 W

SURESH CHHAGANLAL MEHRA

Digitally signed by SURESH CHHAGANLAL MEHRA DN: c=IN, o=Personal, 2.5.4.20=04edeae6b2dbe36143d7bf9ab4599c2fa2f8b498e9aae0764 674798df4077dfc, postalCode=400063, st=MAHARASHTRA, serialNumber=778dbee77cf9b0c041faff19f860ce9f4b0c4aa2a9af9a3 f05a233d2566fb4f3, cn=SURESH CHHAGANLAL MEHRA, l=MUMBAI, pseudonym=3256e5caf4c640dc8045fb09972de86a, email=SC.MEHRA@SCMASSOCIATES.IN Date: 2021.11.12 19:57:49 +05'30'

CA Suresh C Mehra Partner M. No : 039730 UDIN : 21039730AAAAOO2312

Place: Mumbai Date: 12-11-2021