Warren Tea Ltd. — Interim / Quarterly Report 2020

Aug 9, 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 700 001 - SCrip Code 33002

This is further to our letter WTL:SEC:S-2 dated 31[st] July 2019.

Enclosed please find the Unaudited Finandal Results for the First Quarter Ended 30[th] June, 2019 which has been approved by the Board of Directors at its meeting held today. The same will be posted on the Company's website, www.warrentea.com. We would request you to place the said results on the website of your Exchange.

We also enclose a copy of the 'Limited Review' Report by Messrs B M Chatrath & Co. LLP., Auditors of the Company in respect of the aforesaid Quarter, which was duly placed before the Board at the aforesaid Meeting.

This may be treated as compliance with the requirements of Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure ReqUirements) Regulations, 2015.

Yours faithfully, :::JiL~

(SIDDHARTHA ROY) PRESIDENT- LEGAL & COMPANY SECRETARY

CIN : L01132AS1977PLC;001706 • 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 786 601

WARREN TEA LIMITED

Registered Office: Deohall Tea Estate P.O. Hoogrijan. Dist. Tinsukia. Assam 786 601. Tel: +91 9531045098. ClN: L01132AS1977PLCoo1706 Email: corporate@warrentea.com. Website: www.warrentea.com

,~ Warren Tea Limited

STATEMENT OF UNAUDITED FINANCIAL RESULTS

FOR THE FIRSTQUARTER ENDED 30TH JUNE. 2019

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Year
Quarter Ended On Ended On
PARTICULARS 31.03.2019
30.06.2019 31.03.2019 30.06.2018 (Audited)
1 Revenue from Operations 3660 1570 2834 11850
2 Other Income 19 95 72 101
3 Total Income 3679 1665 2906 11951
4 Expenses
a) Consumption of Stores and Spare Parts 523 . 273 547 1423
b) Changes in inventories of Finished Goods and Work-in-Progr~ss (951) 938 (1179) (313)
c) Employee Benefits Expense 2860 1802 2821 10012
d) Finance Costs 120 115 92 404
e) Depreciation and Amortisation Expense 77 90 85 347
f) Power and Fuel 348 140 289 1143
g) Other Expenses 289 156 307 1313
h) Total Expenses 3266 3514 2962 14329
5 Profit I (Loss)before Tax (3-4) 413 (1849) (56) (2378)
6 Tax Expense
- Current Tax (Net) - - - -
- Deferred Tax - (786) - (786)
7 Profit I (Loss)for the Period (5-6) 413 (1063) (56) (1592)
8 Other Comprehensive Income
Items that will not be reclassified to Profit or Loss:
- Remeasurement of Defined Benefit Plan 61 167 119 523
- Effect for Change in Value of Investments - (1) - (1)
- Income Tax relating to Items that will not be reclassified to Profit or Loss - (148) - (148)
9 Total Comprehensive Income for the Period (7-8) 474 (1045) 63 (1218)
10 Paid up Equity Share Capital 1195 1195 1195 1195
(Face Value of Rs.1 01- each)
11 Other Equity excluding Revaluation Reserve as shown in the 7157
Audited Balance Sheet
12 Earnings per Share (EPS)
- Basic and diluted Eamings per Share (Rupees) 3.46 (6.90) (0.47) (13.32)
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1. 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.

2. Harvesting and Manufacturing of Tea being seasonal in nature and more particularly because of considerable variations in the quantity and quality of produce, the quarterly figures relating to such operations are not indicative of the Annual Financial Results.

3. As the ultimate Income-tax liability will depend on resultsfor the year ending 31st March, 2020 and also in view of the seasonal nature of tea business, the position with regard to provisions for current tax and deferred tax will be determined at the end of the year.

4. The Company has adopted Ind AS 116 - Leases which is effective from 1st April, 2019, retrospectively and has recognised the cumulative effect of initially applying this Standard. The effect of this adoption is insignificant on the profit for the quarter ended 30th June, 2019.

5. The Statutory Auditors have conducted "Limited Review" for the quarter ended on 30th June, 2019 in terms of requirements of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

6. Upon appropriate recommendations by the Audit Committee of the Directors, the above Financial Results have been approved by the Board of Directors of the Company at its meeting held on 9th August, 2019.

Kolkata

9th August, 2019

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@bmchatrath.in website: www.bmchatrathcom

B M CHATRATH & CO LLP (FORMERLY B M CHATRATH & CO) CHARTERED ACCOUNTANTS

LLPIN • AAJ-0682

To The Board of Directors,

Warren Tea Limited

1. We have reviewed the accompanying statement of unaudited financial results of Warren Tea Limited (''the Company"), for the quarter ended June 30, 2019 (''the Statement"),being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Regulations").

2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared "inaccordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement 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. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to' obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. We draw your attention to Note No.3 of the statement regarding the non-ascertainment of income tax liability (current and deferred) as per Indian Accounting Standard 12 on "Income Taxes" for the quarter ended June 30, 2019 which is determined by the company at the end of the year for the reasons stated in the said note. Our opinion is not qualified in respect of this matter.

5. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying statement has not been prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For B M Chatrath & Co LLP Chartered Accountants . Firm Registration Number: 30101lElE300025 ..... ~-"-~~ .,~ Kolkata Sukhpreet S. Sidh Date: 09 August, 2019 Partner Membership Number: 052187 UDIN: 19052187AAAAAK1351

Kolkata

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