Warren Tea Ltd. — Annual Report 2019

May 30, 2019

Warren Tea Limited ,~

The General Manager, Department of Corporate Services, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001 Scrip Code 508494

The Secretary The calcutta Stock Exchange Limited, 7 Lyons Range, Kolkata 700001 - SCripCode 33002

Enclosed please find the Audited Rnancial Results for the Quarter and Year Ended 31[st] March, 2019 which has been approved by the Board of Directors at its meeting held today together with Audit Report and Declaration pursuant to Regulation 33 (3)( d) of Securities and Exchange Board of India (Listing Obligations and Disclosure ReqUirements) Regulations, 2015.

This may please be treated as compliance of Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board also decided today that the reappointment of Mr Vinay K Goenka for two years with effect from 151:April, 2019, which had already been approved earlier, shall be as 'Executive Chairman' instead of 'Otairman'.

CIN : L01132AS1977PLC001706 • website: www.warrentea.com

Corporate Office: 'Suvira House', 48. Hungerford Street, Kolkata 700017 Telephone: 22872287, Fax: 22894444, E-mail: corporate@warrentea.com Registered Office: Deohall Tea Estate, P.O. Hoogrijan, Dist. Tinsukia, Assam 786601

WARREN TEA LIMITED

,~ Warren Tea Umited

Registered Otfice: Deohall Tea Estate P.O. Hoogrijan, Dist.TInsukia,Assam 786601.

Tel: 0374 29113691, CIN: L01132AS1977PLCoo1706

Email: corporate@Warrentea.com, Website: www.warrentea.com

(Figures in t lakhs)

			Quarter Ended	Quarter Ended	On		Year Ended	On
			31,03.2019	31.12,2018 (Unaudlled)		31.03.2018	31,03.2019	31.03,2018
	Revenue from Operations		1570	2823		1389	11850		11899
2	Other Income		95		(58)	91	101		138
3	Totallncome		1665	2765		1480	11951		12037
4	Expenses
	a) Consumption of Stores and Spare	Parts	273		220	230	1423		1436
	b) Changes in inventories of Finished Goods and Work-in-Progress		938	1136		1184	(313)		(72)
	c) Employee Benefits Expense		1802	2342		1031	10012		8486
	d) Finance Costs		115		96	94	404		375
	e) Depreciation and Amortisation Expense		90		85	101	347		364
	f) Power and Fuel		140		295	110	1143		1121
	g) Other Expenses		156		433	197	1313		1405
	h) Total Expenses		3514	4607		2947	14329		13115
5	Profit_1_(loss) before Tax (3-4)		(1849)	(1842)		(1467)	(2378)		(1078)
6	Tax Expense
	- Current Tax (Net)
	- Deferred Tax		(786)			(289)	(786)		(289)
7	Profit 1(Loss)for the Period (5-6)		(1063)	(1842)		(1178)	(1592)		(789)
8	Other Comprehensive Income
	Items that will not be reclassified to Profit or Loss:
	- Remeasurement of Defined Benefit Plan		167		118	650	523		498
	- Effect for Change In Value of Investments		(1)			39	(1)		39
	- Income Tax relating to Items that will not be reclassified to Proti! or loss		(148)			(163)	(148)		(163)
9	Total Comprehensive Income for the Period (7-8)		(1045)	(1724)		(652)	(1218)		(415)
10	Paid up Equity Share Capital		1195	1195		1195	1195		1195
	(Face Value 01 Rs,lO/- each)
11	Other Equity excluding Revaluation	Reserve as shown in the					7157		8375
	Audited Balance Sheef
12	Earnings per Share (EPSI
	- Basic and diluted Earnings per Share (Rupees)					(9.86)	(13.32)		(6.60)
							Continued		.....pg 2

		Particulars	Year Ended On
			31.03.2019	31.03.2018
	A 1	ASSETS Non-Current Assets Property, Plant and Equipment Capital Work-in-Progress Other Intangible Assets Financial Assets Investments Loans Other Financial Assets Deferred Tax Assets(Net) Other Non Current Assets	7082 1728 8 3315 615 4 648 555	6932 1517 2 3315 617 4 10 379
			13955	12776
	2	Current Assets Inventories Biological Assetsother than Bearer Plants Financial Assets Trade Receivables Cash and Cash Equivalents Other Bank Balances Loans Other Financial Assets Other Current Assets	1299 826 241 162 2890 3953 5 9 1 1 7 8 , 3 3 559 109
			5005	5071
		TOTAL ASSETS	18960	17847
	B 1	EQUITIES AND LIABILITIES Equity Equity Share Capital Other Equity	1195 7157	1195 8375
			8352	9570
	2	L1abllltJes Non-Current Liabilities Financial Liabilities Borrowings Trade Payables Others Provisions	1275 1800 90 110 150 114 1141 869
			2656	2893
		Current L1abllltles Financial Liabilities Borrowings Trade Payables Other Financial Liablities Other Current Liabilities Provisions Current Tax Liabilities (Net)	2150 2215 2066 31 531 959	1135 1341 1197 6 746 959
			7952	5;384
		TOTAL EQUITIES AND L1ABIL1TIES |18960 17847
		~

1. The Financial Resultsof the Company have been prepared in accordance with The Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed in the Companies Act, 2013.

2. Cost of consumption of Green Leaf produced at the Company's own gardens, being raw material used for manufacture of Black Tea, is not ascertainable from financial accounting records since production involves an "integrated process" having various stages including growing, cultivation, manufacturing and marketing of Black Tea.

3. .

4. 1. The figures for the last quarter ended 31st March, 2019 are the balancing figures between audited figures in respect of full financial year endeq 31st March, 2019 and the year to date figures upto the third quarter of current financial year.

5. Upon appropriate recommendations by the Audit Committee of the Directors, the above Financial Resultshave been approved by the Board of Directors of the Company at its meeting held on 30th May, 2019.

Kolkata 30th May, 2019

. . S. K. osh Managing Director

Warren Tea Limited ,~

30[th] May, 2019

The GeneralManager, Department of Corporate Services, BSELimited, PhirozeJeejeebhoy Towers, Dalal Street, Mumbai400 001 Scrip Code508494

The Secretary The Calcutta Stock ExchangeLimited, 7 LyonsRange, Kolkata 700 001 - Scrip Code33002

Declaration pursuant to Regulation 33(3Xd) of SEBI (Listing Obligations & DisclosureRequirements)Regulations.2015 .

It is hereby declared that the Audit Report in respect of the Audited Financial Results for the year ended 31[st] March, 2019, does not contain any modified

Yours faithfully, War en Tea Limited

CIN : L01132AS197·7PLC001706 • website: www.warrentea.com

Corporate Office: 'Suvira House', 4B, Hungerford Street, Kolkata 700017 Telephone: 2287 2287. Fax: 22894444, E-mail: corporate@warrentea.com Registered Offi.ce : Deohall Tea Estate, P.O. Hoogrijan, Dist. Tinsukia, Assam 786601

- -- .- -. ...-:" B M CHATRATH & CO LLP

REGD OFFICE CENTRE POINT, 4th FLOOR, Suite No. 440 21, HEMANTA BASU SARANI, KOLKATA - 700 001 TEL' 2248-4575/4667/6810/6798,2210-1385,2248-9934 E-mail. bmccal@bmchatrathin website: www.bmchatrath.com

(FORMERLY B M CHATRATH & CO) CHARTERED ACCOUNTANTS LLPIN AAJ-0682

INDEPENDENT AUDITOR'S REPORT TO THE BOARD OF DIRECTORS OF WARREN TEA LIMITED

1. We have audited the accompanying Statement of Standalone Financial Result of WARREN TEA LIMITED ("the Company"), for the year ended March 31, 2019 ("the Statement"),being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

2. This Statement, which is the responsibility of the Company's Management and approved by the Board of Dir.ectors, has been compiled from the related standalone financial statements which has been prepared in accordance with the Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under CInd AS') and other accounting principles generally accepted in India. Our responsibility is to express an opinion on the Statement based on our audit of such standalone financial statements.

3. We conducted our audit in accordance with the Standards on Auditing 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 assuranceabout whether the Statement is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the 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 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, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement.

We believe that the audit evidence obtained by us is sufficient and appropriate to prOVidea basis for our audit opinion.

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

2. (i) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure ReqUirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016; and

3. (ii) gives a true and fair view in conformity with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the net loss and total comprehensive income and other financial information of the Company for the year ended March 31, 2019.

NOIDA :- 0-26, 2nd Floor, Sector - 3, Noida - 201301 (Uttar Pradesh), Ph. No. - 0120-4593360, 0120-4593361 DELHI :- Flat No. - 10, 45 Friends Colony East, New Delhi 110065 MUMBAI :- A/9, Sai Prasad, 2nd Floor, Rajshree Shahu Maharaj Cross Road. (Telly Gulley Cross Road), Andheri East, Mumbai400069, Ph. : 022-32231382 HYDERABAD:H No. 8-2-61812/2, Flat No. -1B, 1st. Floor, R. K. Residency, Road No. -11, Pin' 500033, Ph.: 040-26832264 JAIPUR'B-269, Janta Colony, Jaipur-302004, Ph.: 0141-2601727

1. The Statement includes the results for the Quarter ended March 31, 2019 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

For B.M. Chatrath& Co. LLP Chartered Accountants

Firm Registration Number: 301011EIE30002.5

~~~

Kolkata

Date: 30 May, 2019

Sukhpreet S. Sr u Partner

Membership Number: 052187