Ref. No. : WIL: SEC: 2021 Date : June 29, 2021

National Stock Exchange of India Ltd Corporate Action Department Exchange Plaza, 5th floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai 400 051 Scrip Code : WALCHANNAG

BSE Ltd., Corporate Relations Department 1st floor, New Trading Ring, Rotunda Bldg P.J. Tower, Mumbai 400 001 Scrip Code : 507410

Dear Sirs,

Sub: 1. Audited Financial Results for the Quarter and Year ended March 31, 2021. 2. Auditor's Report on Standalone Quarterly Financial Results and Year to date Results of the Company.
Ref: Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

We are pleased to inform you that the Board of Directors at its meeting held today i.e. June 29, 2021, approved the following items:

1. The Audited Financial Results for the Quarter and Year ended March 31, 2021 (Copy of same is enclosed).
1. Auditor's Report on Standalone Quarterly Financial Results and Year to date Results of the Company issued by our Statutory Auditors, M/s. Jayesh Sanghrajka & Co. LLP, Chartered Accountants (Copy of the same is enclosed).

Further, we hereby confirm and declare that Statutory Auditors of the Company M/s. Jayesh Sanghrajka & Co. LLP, Chartered Accountants have issued report with Un– Modified opinion in respect of Audited Financial Results for the Quarter and year ended March 31, 2021. The said declaration is made in pursuant to Regulation 33 (3) (d) of the Securities and Exchange Board of India (Listing Obligations and disclosure Requirements) Regulations, 2015 as amended.

The Board Meeting commenced at 2.32 p.m. and concluded at 6.10 p.m.

This is for your information and record.

Thanking you,

Yours faithfully, For Walchandnagar Industries Ltd.,

Giriraj Sharan Agrawal Digitally signed by Giriraj Sharan Agrawal DN: c=IN, o=Personal, title=5216, pseudonym=68e68b14186155239d9ee36b4ac94e5ac98ae31713ff5 5cc8c5af654c51d1bbf, 2.5.4.20=d377a37a9c44bd0db5b3d17dd821ed935afdab89d983731 b99c7c8e717112652, postalCode=400034, st=Maharashtra, serialNumber=5a4130bf9a70610c0fd108bdfb582c7679b40820964 34107dba690b8c4821e18, cn=Giriraj Sharan Agrawal

G. S. Agrawal Vice President (Legal & taxation) & Company Secretary

Encl : As above

				WALCHANDNAGAR INDUSTRIES LTD.Regd. Office: 3, Walchand Terraces, Tardeo Road, Mumbai - 400 034.
	Tel No. : (022) 23612195/96/97 Fax : (022) 23634527, E - mail : [email protected], Website: www.walchand.com			SEGMENT-WISE REVENUE, RESULTS & CAPITAL EMPLOYED
		Quarter ended			Rs in LakhsYear ended
Particulars		31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
1	Segment Revenue
	(a) Heavy Engineering	6,624	8,605	4,912	28,116	23,628
	(b) Foundry and MachineShop	1,241	1,127	890	3,575	4,700
	(c) Others	355	279	331	1,042	1,759
	Total	8,221	10,011	6,133	32,734	30,087
	Less : Inter segment Revenue	90	20	90	170	282
	Net Sales/Income from	8,131	9,991	6,043	32,564	29,805
	Operations
	2 Segment Results
	Profit/(Loss) before Interest
	and Tax
	(a) Heavy Engineering	439	1,475	14	3,028	3,617
	(b) Foundry and Machine
	Shop	(2)	(118)	(62)	(496)	(272)
	(c) Others	69	18	30	76	221
	Total	506	1,375	(18)	2,608	3,566
	Add: Exceptional Item
	Less : Finance Cost	1,936	2,014	2,016	7,905	8,652
	Less - Other unallocable		132	180	427	481
	expenditure net of	119
	unallocable Income
	Less - Exceptional Item	-	-	-	-	979
	Profit/(Loss) Before Tax	(1,549)	(771)	(2,214)	(5,724)	(6,546)
	3 Capital Employed
	Segment Assets
	(a) Heavy Engineering	85,439	90,097	93,425	85,439	93,425
	(b) Foundry and Machine	4,940	4,852
	Shop			5,275	4,940	5,275
	(c) Others	4,193	4,301	4,416	4,193	4,416
	(d) Unallocated	1,230	1,164	1,497	1,230	1,497
	(A)	95,802	100,414	104,613	95,802	104,613
	Less : Liabilities
	(a) Heavy Engineering	70,299	73,137	73,249	70,299	73,249
	(b) Foundry and MachineShop	2,159	2,216	2,168	2,159	2,168
	(c) Others	411	603	625	411	625
	(d) Unallocated	1,763	1,788	1,663	1,763	1,663
	(B)	74,632	77,744	77,705	74,632	77,705
	Total (A-B)	21,171	22,670	26,908	21,171	26,908

For WALCHANDNAGAR INDUSTRIES LTD.

Chirag C. Doshi MANAGING DIRECTOR & CEO DIN- 00181291 Chirag Chakor Doshi Digitally signed by Chirag Chakor Doshi DN: c=IN, o=Personal, title=3696, pseudonym=78ff1eb655a6b9370718acc23940c96feee2e502979ab91 6fe165be951e1b277, postalCode=400026, st=Maharashtra, serialNumber=a1be829b708a90e727ada23f0436694a4191c30bd117 03c2280a9d3c86917447, cn=Chirag Chakor Doshi Date: 2021.06.29 18:15:40 +05'30'

Place: Mumbai Date:June 29, 2021

A TRADITION OF ENGINEERING EXCELLENCE

WALCHANDNAGAR INDUSTRIES LTD.

Regd. Office: 3, Walchand Terraces, Tardeo Road, Mumbai - 400 034. CIN : L74999MH1908PLC000291

Tel No. : (022) 23612195/96/97 Fax : (022) 23634527, E - mail : [email protected], Website: www.walchand.com

Statement of Assets and Liabilities
		Rs. In Lakhs
Particulars	As atMarch 31,2021(Audited)	As atMarch 31,2020(Audited)
Property, Plant and Equipment	31,874	33,120
Capital Work-in-Progress	379	855
Investment Property	189	189
Intangible Assets	84	98
Financial Assets
(i) Investments	5	8
(ii) Trade Receivables	5,882	5,646
(iii) Other Financial Assets	261	269
Non Current Tax Asset (Net)	1,038	1,304
Other Non-Current Assets	3,948	4,587
	43,661	46,076
Inventories	15,349	23,493
Financial Assets
(i) Trade Receivables	20,928	19,867
(ii) Cash and Cash Equivalents	292	321
(iii) Other Balances with Banks	4,520	3,986
(iv) Other Financial Assets	6,720	5,200
Other Current Assets	4,222	5,670
Non Current Asset held for sale	111	-
	52,142	58,537
	95,803	104,613

Equity Share CapitalOther Equity	76120,409	76126,147
	21,171	26,908
Financial Liabilities
(i) Borrowings	10,546	15,912
(ii) Other Financial Liabilities	4,183	3,287
Provisions	1,439	1,300
Other Non-Current Liabilities	9,876	6,841
	26,045	27,340
Financial Liabilities
(i) Borrowings(ii) Trade Payables	22,7327,055	22,1498,723
(iii) Other Financial Liabilities	11,942	6,341
Provisions	324	364
Other Current Liabilities	6,535	12,788
	48,588	50,364
	95,803	104,613

Walchandnagar Industries Limited CIN - L74999MH1908PLC000291

Cash Flow Statement for the year ended on March 31, 2021

			Rs. in Lakhs
	Particulars	Year ended on March 31,2021	Year ended on March 31,2020
	A Cash Flow from Operating ActivitiesProfit/(Loss) before tax	(5,724)	(6,546)
	Adjustments for :
	Depreciation and Amortization ExpenseAmortization of Lease hold Land	2,29766	2,30066
	Provision for doubtful debts	(1,870)	(1,824)
	(Profit)/ Loss on sale of Asset	(113)	950
	Finance CostsUnrealized Exchange (Gain) / Loss (net)	7,905193	8,652198
	Sundry Balances Written back	(1,756)	(557)
	Interest Income	(158)	(378)
	Rental Income from Investment property	(7)	(10)
	Bad Debits Witten off	2,751	3,721
	Dividend Income on Current Investments(Profit) / loss on sale of Current Investments	--	(1)5
	Provision written back	-	(249)

	Operating profit before working capital changes	9,3073,582	12,8736,327
	Change in operating assets and liabilities

	(Increase)/ decrease in trade receivables(Increase)/ decrease in other financial assets	(2,371)(1,513)	5,332(1,106)
	(Increase)/ decrease in other assets	1,721	495
	(Increase)/ decrease in inventories	8,144	(4,017)
	Increase/ (decrease) in trade payable	(664)	(739)
	Increase/ (decrease) in other financial liabilities	170	(598)
	Increase/ (decrease) in provisions	88	54
	Increase/ (decrease) in other liabilities	(2,466)	106
		3,109	(472)

	Cash Generated from OperationsIncome Tax Refund / (Paid) (net)	6,692445	5,855-
	Net cash inflow from operating activities (A)	7,137	5,855
	B Cash Flow from Investing Activities
	Purchase of tangible/intangible assets including capitalwork in progress	(666)	(1,507)
	Proceeds from Sale of Property, Plant and Equipment	230	37
	(Purchase)/Sale of Non Current Investments	0	136
	(Purchase)/Sale of Current Investments	-	165
	Rent received on Investment Property	7	10
	Proceed from sale of assets held for saleFixed Deposit / Margin Money Realized/(Paid)	-(437)	1,9992,664
	Dividend received on current investment	-	1
	Interest Received	-62	398
	Net cash inflow from investing activities (B)	(804)	3,903
C	Cash Flow from Financing Activities
	Proceeds/(Repayments) of Long-Term Borrowings
	(Net)	(2)	(5,369)
	Proceeds/(Repayments) of Short-Term Borrowings
	(Net)	583	484
	Interest paid	(6,943)	(7,229)
	Net cash outflow from financing activities (C)	(6,362)	(12,114)
	Net Increase / (Decrease) in Cash and CashEquivalents (A+B+C)	(29)	(2,356)
	Cash and Cash Equivalents at the beginning of the
	period	321	2,677
	Cash and Cash Equivalents at the end of the period	292	321
	Cash & Cash Equivalents comprises of :
	Particulars	Year ended on March31, 2021	Year ended on March 31,2020
	Cash on hand	12	26
	Cheques on HandBalances with banks	56224	-275
	Deposits having original maturity of less than three months	-	20
Total		292	321

	For Walchandnagar Industries Limited


	Chirag C. Doshi
	Managing Director & CEO
		DIN- 00181291
	Date:June 29, 2021Place: Mumbai
		A TRADITION OF ENGINEERING EXCELLENCE

Jayesh Sanghrajka & Co LLP

Chartered Accountants

Independent Auditors' report on Financial Results of Walchandnagar Industries Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015

To, The Board of Directors Walchandnagar Industries Limited Mumbai

1. We have audited the accompanying statement containing the annual audited financial results of Walchandnagar Industries Limited, ("the Company"), for the quarter and year ended March 31, 2021 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Regulations), read with SEBI circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 (the Circular).
1. The management is responsible for preparation of accompanying statement which is prepared from the annual statutory Ind AS Financial Statement prepared in accordance with the Indian Accounting Standards specified in the Companies (Indian Accounting Standards), Rules, 2015 (as amended) under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and the accounting principles generally accepted in India, basis which the above statement containing the annual audited Financial results has been prepared and approved by the Board of Directors. The responsibility includes the design, implementation and maintenance if internal controls relevant to the preparation of the Statement that is free from material misstatement, whether due to fraud or error.
1. Our responsibility is to express an opm10n on the Statement on our audit. We conducted our audit in accordance with the standards on auditing specified under Section 143(10) of the Companies Act, 2013 and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement

Head Office: 405 - 408, Hind Rajasthan Building, Dadasaheb Phalke Road, Dadar (E), Mumbai - 400 014. Branch Offices at Vashi and Kanjurmarg +91 22 40774602 [email protected] www.jsandco.m

Affiliates Offices: Ahmedabad, Bangalore, Chennai, Delhi, Guwahati, Hyderabad, lndore, Jaipur, Kochi, Kolkata, Delhi, Patna, Silchar, Siligurl and Thiruvananthapuram.

Jayesh Sanghrajka & Co LLP

Chartered Accountants

1. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Statement The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Company's management, as well as evaluating the overall presentation of the Statement
1. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
1. In our opinion and to the best of our information and according to the explanations given to us,
- 6.1. the Statement is presented in the format prescribed under Regulation 33 and Regulation 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.
- 6.2. The annual financial results for the quarter and year ended March 31, 2021 as set out in the Statement gives a true and fair view of the total comprehensive income (comprising of loss and other comprehensive income) and other financial information of the Company for the quarter and year ended March 31, 2021 in accordance with the accounting principles generally accepted in India.
1. Further, read with paragraph 1 above, we report that the figures for the quarter ended March 31, 2021 represent the derived figures between the audited figures in respect of the financial year ended March 31, 2021 and the published year-to-date figures up to December 31, 2020, being the date of the end of the third quarter of the current financial year, which were subjected to limited review as stated in Paragraph 1 above, as required under the Regulation and the Circular.

8. Emphasis of Matter

We draw attention to Note 4 of the Statement regarding non-moving inventory of work-in-progress amounting to Rs. 2194.21 Lakhs on account of orders which have been cancelled/put on hold. The Company contends that this stock will either be liquidated or diverted to other projects without any loss arising therefrom.

Our report is not modified in respect of this matter.

Head Office : 405 408, Hind Rajasthan Building, Dadasaheb Phalke Road, Dadar (E), Mumbai - 400 014. Branch Offices at Vashi and Kanjurmarg +91 22 40774602 [email protected] www.jsandco.in Affiliates Offices: Ahmedabad, Bangalore, Chennai, Delhi, Guwahati, Hyderabad, Indore, Jaipur, Kochi, Kolkata, Delhi, Patna, Sllchar, Siliguri and Thlruvananthapuram.

Chartered Accountants

9. Other Matter

We did not audit the financial statements I information of Ethiopia division included in the financial statements of the Company whose financial statements 1 financial information reflect total assets of Rs. 1286.19 lakhs and total liabilities of Rs. 1265.96 Lakhs as at March 31, 2021 and the total revenue of Rs. NIL and total expenses of Rs. 9.32 Lakhs for the year ended on that date. The financial statements I information of this division have been audited by the independent auditor whose report has been furnished to us, and our opinion in so far as it relates to the amounts and disclosures included in respect of such division, is based solely on the report of such auditor.

Our opinion is not modified in respect of this matter.

For Jayesh Sanghrajka & Co. LLP

Chartered Accountants ICAI Firm Registration Number: 104184W IW100075 ~

Ashish Sheth Designated Partner Membership Number: 107162 UDIN:21107162AJV\ABE4320

Place: Mumbai Date: 29th June 2021

Head Office: 405 - 408, Hind Rajasthan Building, Dadasaheb Phalke Road, Dadar (E), Mumbai - 400 014. Branch Offices at Vashi and Kanjurmarg +91 22 40774602 [email protected] www.jsandco.in Affiliates Offices :

Ahmedabad, Bang a lore, Chennai, Delhi, Guwahat1, Hyderabad, Indore, Jaipur, Kochi, Kolkata, Delhi, Patna, Silchar, Siliguri and Thiruvananthapuram.

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Walchandnagar Industries Ltd Annual Report 2021