Weizmann Limited. — Audit Report / Information 2024

May 28, 2024

CIN:L65990MH1985PLC038164 Regd. Office : 214, Empire House, Dr. D. N. Road, Ent. A. K. NayakMarg, Fort, Mumbai – 400 001. Website: www.weizmann.co.in, Email: contact@weizmann.co.in Tel. Nos :022-22071501 ( 6 lines) Fax No.: 022-22071514

28th May, 2024

National Stock Exchange of India Limited	BSE Limited
Listing Department.	Corporate Relation Department,
Exchange Plaza, C-1, Block- G,	Listing Department,
BandraKurla Complex,	PhirozeJeejeebhoy Towers,
Bandra (East) Mumbai–400 051.	Dalal Street, Mumbai – 400 023.
Fax No. 26598235/8237/8347.	Facsimile No. 22723121/22722037/2041
Symbol: WEIZMANIND	Scrip Code: 523011

Dear Sir/Madam,

Sub: Outcome of Board Meeting

Pursuant to Regulation 30 read with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors at its meeting held today i.e. on 28th May, 2024 have considered the following matters:

• 1. Adopted and Approved Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended 31st March, 2024. Copies of the same are enclosed herewith along with Statutory Auditors Reports and declaration of unmodified opinion pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 1. Recommended Dividend @ 5% i.e Re. 0.50/- per Equity Share of Rs. 10/- each. The dividend will be paid by the Company to the Shareholders subject to the approval of the same by the shareholders at the ensuing Annual General Meeting of the Company.
• 1. Based on the recommendation of Nomination and Remuneration Committee, Board of the Directors will place the proposal for continuation of Shri. Dharmendra G Siraj (DIN: 00025543) aged 72 years, as Non-Executive Director of the Company in the ensuing Annual General Meeting for the approval of the members of the Company pursuant to Regulation 17(1D) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shri. Dharmendra G Siraj has rich and varied management experience of over 50 years in financial services, including Money Exchange and Remittance Services, besides Housing and Consumer Finance. He has been closely associated with the promotion of Renewable Energy and Exports, and has repeatedly served on the Export Promotion Panel of the Cotton Textile Export Promotion Council, and been on the Committee of the

Regd. Office : 214, Empire House, Dr. D. N. Road, Ent. A. K. NayakMarg, Fort, Mumbai – 400 001. Website: www.weizmann.co.in, Email: contact@weizmann.co.in Tel. Nos :022-22071501 ( 6 lines) Fax No.: 022-22071514

All India Exporters Chamber. He holds a Bachelor's degree in Business Management from Mumbai University and a Diploma in Management Studies from London, U. K. He is not related to any Director of the Company. Further he is not debarred from holding the office of director by virtue of any SEBI order or of any other Statutory authority.

1. Re-appointment of Shri. Neelkamal V. Siraj (DIN: 00021986) as Managing Director of the Company with effect from 11th April, 2025 for a period of 3 years, subject to the approval of the members at the ensuing Annual General Meeting. We hereby confirm that Shri. Neelkamal V. Siraj is not restrained from holding the office of Director under any statutes.

Brief Profile i.e. details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read along with SEBI circulars is as below:

SR	PARTICULARS	DISCLOSURES
No.
1.	Reason for change	Re-appointment as Managing Director of the
		Company
2.	Date of Appointment	11th April, 2025
3.	Tenure of appointment	3 years w.e.f 11th April, 2025
4.	Brief Profile	Shri. Neelkamal V. Siraj, aged 66 years is the
		Managing Director of the Company. He is a
		Commerce Graduate. He has over 45 years of
		experience in the Textile industry, with a
		particular focus on manufacturing, export and
		marketing of textile products.
5.	Disclosures of Relationship	Shri. Neelkamal V. Siraj is brother of Shri. Hitesh
	between Directors of the	V. Siraj who is the Non-Executive Director of the
	Company	Company.

CIN:L65990MH1985PLC038164 Regd. Office : 214, Empire House, Dr. D. N. Road, Ent. A. K. NayakMarg, Fort, Mumbai – 400 001. Website: www.weizmann.co.in, Email: contact@weizmann.co.in Tel. Nos :022-22071501 ( 6 lines) Fax No.: 022-22071514

The Board Meeting commenced at 2.55 p.m and concluded at 3.35 p.m

You are requested to take the above on record and oblige.

Thanking You.

Yours Sincerely, For Weizmann Limited Ami Purohit Company Secretary AMI DHARMEND RA PUROHIT Digitally signed by AMI DHARMENDRA PUROHIT Date: 2024.05.28 15:36:24 +05'30'

Encl.as above

BATLIBOI & PUROHIT Chartered Accountants

Independent Auditors' RePort To the Board of Directors of Weizmann Limited Report on the audit ofthe Consolidated Annual Financial Results

Opinion

We have audited the accompanying consolidated Annual financial results of Weizmann Limited (hereinafter referred to as the "Holding company") and its associate (Holding company and its associate together referred to as "the Group"), and its share of the net profit after tax and total comprehensive income of its associate for the quarter and year ended 31 March 2024 (the 'Statement'), being submitted by the Parent pursuant to the requirements of Regulation 33 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 aforesaid consolidated financial results:

• i. include the financial results ofone associate Windia Infrastructure Finance limited
• lt are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• ltl give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in lndia, of consolidated net profit and other comprehensive income and other financial information of the Group for the quarter and year ended March 31, 2024.

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 ("the Act"). Our responsibilities under those SAs are further described in the AuditoCs Responsibilities for the Audit ofthe Consolidated Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit ofthe financial results under the provisions ofthe Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code ofEthics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion on the consolidated financial results.

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

These consolidated financial results have been prepared on the basis of the consolidated financial statements. The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation ofthese consolidated financial results that give a true and fair view ofthe consolidated net profit and other comprehensive income and other financial information ofthe Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 ofthe Act and other accounting principles generally accepted in India and in compliance with Regulation 33 ofthe Listing Regulations. The respective Management and Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding ofthe assets of each company and for preventing and detecting frauds and other irregularities; selection and

BATLIBOI & PUROHIT Continuation Sheet Chartered Accountants

application ofappropriate accounting policies; makingj udgrnents and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate intemal financial controls, that were operating effectively for ensuring accuracy and completeness ofthe accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose ofpreparation ofthe consolidated financial results by the Management and the Directors ofthe Holding Company, as aforesaid.

In preparing the consolidated financial results, the Management and the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of each company to continue as a going concem, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic altemative but to do so.

The respective Board of Directors ofthe companies included in the Group is responsible for overseeing the financial reporting process ofeach company.

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

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are 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 ofassurance, but is not a guarantee that an audit conducted in accordance with SA's 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 ofthese consolidated financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• . Identifu and assess the risks of material misstatement of the consolidated financial results, 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 for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) ofthe Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness ofaccounting policies used and the reasonableness ofaccounting estimates and related disclosures made by the Management and the Board of Directors.
• . Conclude on the appropriateness ofthe Management and Board of Directors use ofthe going concern 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 the appropriateness of this assumption. 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 consolidated financial results or, if such disclosures are inadequate, to modi\$ our opinion. Our conclusions

BATLIBOI & PUROHIT continuationsheet Chartered Accountants

are based on the audit evidence obtained up to the date ofour auditor's report. However, fiiture events or conditions may cause the Group to cease to continue as a going concem.

• Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial results ofthe entities within the Group to express an opinion on the consolidated financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entity included in the consolidated financial results of which we are the independent auditors. For the other entiry included in the consolidated annual financial results, which has been audited by other auditor, such other auditor remain responsible for the direction, supervision and performance of the audit carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in sub paragraph (2) of the section titled "Other Matters" in this audit report.

Materiality is the magnitude of misstatements in the Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Results may be influenced. We consider quantitative materialiry and qualitative factors in (i) planning the scope ofour audit work and in evaluating the results ofour work; and (ii) to evaluate the effect ofany identified misstatements in the Standalone Financial Results.

We communicate with those charged with govemance of the Holding 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 ofthe audit and significant audit findings, including any significant deficiencies in intemal control that we identi! during our audit.

We also provide those charged with govemance 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.

Refer the matter described under Basis for Opinion section of our report, except to the procedures relating to the communication with and using the work of other auditors which were not applicable, we performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Other Matters

• ^I. The consolidated financial statements include the results for the quarter ended March 3l,2024, being the balancing figure between the audited figures in respect ofthe full financial year and the published unaudited year to date figures up to the third quarter ofthe current financial year which were subject to limited review by us.
• 1. The Consolidated financial Statement includes the Holding Company's share ofnet loss ofRs. 58.16 lakhs and other comprehensive income ofRs. 0.04 lakhs for the quarter ended March 3L,2024 and its share ofnet loss ofRs 61.61 lakhs and other comprehensive loss Rs 0.23 lakhs for the year ended March 31,2024 in respect ofthe associate company, 'Windia Infrastructure Finance Limited' (a Non-Banking Finance Company). These financial statements have been prepared in accordance with the accounting standards prescribed under section 133 of the

BATLIBOI & PUROHIT Continuation Sheet Chartered Accountants

Companies Act,2013 read together with paragraph 7 ofthe Companies (Accounts) Rules,2014 (hereinafter referred to as the 'previous GAAP') and have been reviewed by other auditor whose report have been fumished to us. The management ofthe Holding Company has restated these Financial Statements in accordance with Companies (lndian Accounting Standards) Rules, 2015 (lnd AS) and are reviewed by us so far as it related to conversion adjustments from Previous GAAP to lnd AS. Our Report on the statement, in so far as it relates to the amounts and disclosures included in respect of this associate, is based solely on the report of the other auditor and of the said conversion adjustments. Our opinion on the consolidated statements is not modified in respect ofour reliance on the work done and the report ofthe other auditor.

For BATLIBOI & PUROHIT Charlered Accountants ICAI Firm Reg. No.101048W

-:++n ,q'1^l-

Atul Mehta Partner Membership No. 1593 5 ICAI UDIN: 2401 5935BKHCNJ6 I 53

Place: Mumbai Date: May 28,2024

[ CIN NO: L65990MH1985PLC038164 ] Regd. Office : Empire House, 214, Dr. D.N.Road, Ent. A. K. Nayak Marg, Fort, Mumbai - 400 001 'Website: www.weizmann.co.in E-mail : contact@weizmann.co.in Phone : 022-2207 1501 (6 Lines) Fax: 022-22071514

	AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2024
=			Quarter Ended		Year Ended
W	Particulars	310324	311223	310323	310324	310323
		Audited	UnAudited	_Audited	_Audited	Audited
1	[income
	Revenue from Operations (a)		3064.07 284197 [	376826	12,20041	1351432
	(b) Other Income	10.79	4073	5.49	56.46	23,01
	Total Income	3074.86	288270	3,773.75	12,346.87	13,557.33
2	Expenses
	Cost of Materials Consumed (a)	109819	88069	125134	413019	498132
	(b) Changes in Inventories of Finished Goods, Work-in-
	Progress and Stock-in-Trade	(96.21)	5281	10405	(113.75)	14065
	Direct, Operating & Manufacturing Expenses (c)	26640	20287	22971	1,02027	991.42
	Employee Benefit Expenses (d)	26611	26813	29298	1,056.79	92772
	Finance costs (e)	1453	18.51	2347	65.23	95.56
	Depreciation and Amortisation expenses (f)	6436	65.04	77.69	27315	317.67
	Power & Fuel ()	58383	53529	67564	231483	258106
	(h) Job Work Charges	38592	41019	48938	1,655.92	1,735.97
	Other Expenses (i)	20061	17365	37749	75067	89932
	Total Expenses	280374	2,607.18	352175	11,153.30	12,670.69
3 4	Profit before exceptional items and tax (1-2) Exceptional Items	7112 2	27552 %	25200 8	1,193.57 g	886.64 A
5 6	Profit before tax (3-4) Tax Expenses	27112	27552	25200	1,19357	886.64
	Current Tax (a)	67.00	37.00	11100	31000	291.00
	(b) Tax Expense Relating to Earlier Year's	(24.80)	(50.14)	-	(74.94)	167
	Deferred Tax ()	(10.7)	305	(0.09)	081	(18.27)]
7	Profit/(Loss) for the period (5-6)	239.65	285.61	14109	957.70	61220
	Add: Share in Profit/(Loss) of Associate	(58.16))	(40.89)	(3099)	(6161)	(186.22)
8	Total Net Profit/(Loss) after Tax	18150	24472	11010	896.09	42602
8	Other Comprehensive Income (OCI)
	(A) Items that will not be reclassified to Profit and Loss
	(i) Re-measurment gain/(Loss) on Defined benefit plan	(7.49)	-	(19.15)	(7.44)	(19.15)
	(ii) Income tax effect on above	187	-	4.38	187	4.38
	(iil) Net gain/(Loss) on Equity Shares fair value through OCI	(0.59)	816	26.66	(6.83)	242
	(iv) Income tax effect on above	013	(1.52)	(5.90)	156	(0.45)
	(v) Share in OCI of Associate	004	012	(398.70)	023	(454.05)
	(B) ttems that will b reclassified to Profit and Loss	-	-	-	-	-
	Total Other Comprehensive Income	(5.99)	676	(30271)]	(1061)	(466.85)
	Total Comprehensive Income (after Tax) (7+8)	17551	25148	(28261)]	88548	(20.83)
9	paid-up Equity Share Capital (Face value of Rs. 10/~ each)	1,585.90	1,585.90	1,585.90	158590	1585.90
	10 Other Equity				569360	488738
	11 [Earning per Share (of Rs. 10/- each) (Quarter figures not
	Basic	114	154	069	565	269
	Diluted	114	154	0.69	565	269

;¥ The above results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under Section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 (as amended).

These results have been reviewed by the Audit Committee at the meeting held on 28.05.2024 and approved by the Board of Directors. The statutory auditors have issued an unmodified report on the above results.

• The Company is primarily operating in the business of processing and manufacture of texties. Hence, there is only one business segment as per Ind-AS 108 Operating Segments.
• ~ IS @ ~ The figures for the quarters ended March 31, 2024 and March 31, 2023 are the balancing figures between audited figures in respect of full financial years and the published unaudited year to date figures upto third quarter of the relevant financial year,
• which were subject to limited review. The Board of Directors recommended a final dividend of Rs.0.50 per fully paid equity Share, subject to approval of Share holders. Previous period's figures have been regroupedireciassified wherever necessary.

For and on behalf of the Board

\Neelkan S\/mm siraj e-Chairman & Managing Director

Regd. Office : Empire House, 214, Dr. D.N.Road, Ent. A. K. Nayak Marg, Fort, Mumbai 400 001.

[ CIN NO: L65990MH1985PLC038164 ]

Website: www.weizmann.co.in E-mail: contact@weizmann.co.in Tel: 022 22071501 (6 Lines) Fax: 022 22071514

AUDITED CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES As at 31st March 2024

		Rs. in lakhs
	3103.204	3103203
	AUDITED	AUDITED
ASSETS
Non-current assets
(a) Property, plant and equipment	264266	272511
(b) Right of Use Assets	-	1.60
(c) Capital work-in-progress	74.89	29.66
(d) Financial assets
Investments (i)	351361	3,556.17
Other Non-current financial assets (i)	214.07	17578
Income Tax Assets (Net) (€)	75.23	137.14
Other Non-current assets (f)	913.47	72430
Total Non Current Assets	7,433.93	7,349.76
Current assets
(a) Inventories	974.18	840.96
(b) Financial assets
Equity Instruments held for Trading (i)	062	064
(i) Trade receivables	861.41	1,381.77
Cash and Cash Equivalents (iii)	7855	12422
(iv) Bank Balances other than (iii) above	3376	34.90
Loans (v)	4255	3364
(c) Other current assets	29463	42063
Total Current Assets	2,285.70	2,836.76
TOTAL ASSETS	9,719.63	10,186.52
EQUITY AND LIABILITIES
Equity
(a) Equity share capital	1,585.90	1,585.90
(b) Other equity	569360	4,887.42
Total Equity	7,279.50	6473.32
Non-current
(a) Financial liabilities Borrowings		30.36
(i)	-
Lease Liabliities (i) Other financial liabilities (iii)		-
(iv) Provisions	- 2678	- 1534
(b) Deferred tax liabilities (net)	169.49	17211
Total Non Current Liabilities	196.27	226.81
Current liabi
(a) Financial liabilities
Borrowings (i)	772.93	112578
Lease Liabliities (i)	-	172
(iii) Trade payables
- Total outstanding dues of micro enterprises and small
enterprises	-
~Total Outstanding dues of Creditors other than micro
enterprises and small enterprises	1,196.96	196414
(iv) Other financial liabilities	96.50	119.29
(b) Other current liabilities	2813	160.85
Provisions (c)	149.34	11461
Total Current Liabilities	2,243.86	3,486.39
TOTAL EQUITY AND LIABILITIES	9,719.63	10,186.52

Place:-Mumbai Date : 28th May, 24

or and on behalf of the Board a \gi

DIN:00021986

elkamal Vrajlal Siraj Vice Chairman & Managing Director

24
	De in lal

Ddlepes	31.03.2024		31.03.2023
Net Profit/ (Loss) before exceptional items and tax		119357		86,64
Adjustments for:
Depreciation and amortisation	273.15		317.67
(Profit / Loss on Sale / Write off of Assets	9.45		107
Finance Costs	65.23		95.56
Interest Income:	(17.17)		(13.29)
Dividend Income	(0.29)		(0.19)
(ProfityLoss on Sale of Securiies/investments	(©001)		0.17
Income - Fair Value Gain on MF Investment	(0.80)
	(1.98))
Sundry Balances Written (Back) / Off Liabilities / Provisions no longer required written back	(32.19))		(14.04)
		295.39		396.85
		1,488.96		1,283.49
Adjustments for (Increase) / Decrease in Operating Assets:	(133.22)		(62.95)
Inventories	552,55		(189.20)
Trade Receivables	(8.91)		166.48
Short-Term Loans and Advances			(0.21)
Other Financial Assets	(38.29)		(30.13)
Other Current & Non Current Assets	(63.17)		0.92
Bank Deposits	114
Adjustments for Increase / (Decrease) in Operating liabilities:
Trade Payables	(765.20)		(112.58)
Other Current Liabilities	(132.72)		78.57
Other Financial Liabilies	(24.51)		9.02
Provisions.	38.74		112,19
		(573.59)		(27.89)
Cash Generated from Operations		915.37		1,255.60
Net Income Tax (Paid) / Refunds		(173.24)		(27428
Net Cash Flow from / (used in) Operating Activities (A)		742.13		981.32
B. Cash Flow from Investing Activities
Purchase of Fixed Assets, including Capital work in progress	(271.08)		(267.36)
Proceeds from Sale/Discarded of Fixed Assets	20.08		451
Proceeds from Redemption of Preference Shares	-
[Proceeds from Sale of Long-Term Investments	(24.81)		3778
Proceeds from sale of Equity Instruments for Trading	0.01
	1747		1320
Interest Received	020		0.19
Dividend Received
Rental (Expense)/income from Investment Properties Net Cash Flow from / (used in) Investing Activities (8)	-	(249.:39)		@1159)
C. Cash Flow from Financing Activities	(39.36)		(11.95)
Long-term borrowings	(352.85)		(649.96)
Short-Term Borrowings	(1.80)		(12.30)
[Principal payment of Leases	(65.15)		(94.62)
Finance Cost	(79.30)		(79.30)
Dividend Paid Net Cash Flow from / (used in) Financing Activities (C)		(538.46)		(848.13)
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)		(@567		(78.40)
Cash and Cash Equivalents at the Beginning of the Year		124.22		20262
Cash and Cash Equivalents at the End of the Year		7855		12422
Reconciliation of Cash and Cash Equivalents with the Balance Sheet: Cash and Cash Equivalents at the End of the Year * + Comprises:
(a) Cash on Hand	751		761
(b) Cheques, Drafts on Hand	-		-
(c) Balances with Banks
() In Current Accounts	71.04	78.55	11661

As per our report of even date attached

Dated : 28th May, 2024

for and on bghalf of the Board

jeelkamal \Irajlal Siraj IN: 00021986

Vice-Chairman & Managing Director

BATLIBOI & PUROHIT Chartered Accountants

Independent Auditors' Report

To the Board of Directors of Weizmann Limited

Report on the audit of the Standalone Annual financial results

Opinion

We have audited the accompanying standalone financial results of Weizmann Limited (hereinafter referred to as the "Company") for the quarter and year ended March31,2024 attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial results:

• i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• ii. give a true and fair view in conformity with the recognition and measurement principles laid down in 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 for the quarter and year ended March 31,2024.

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 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit ofthe standalone financial results section of our report. We are independent ofthe Company, in accordance with the Code ofEthics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit ofthe financial results under the provisions ofthe Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code ofEthics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion on the standalone financial results.

Management's and Board ofDirectors' Responsibilities for the standalone financial results

These standalone financial results have been prepared on the basis of the standalone financial statements. The Company's Management and the Board of Directors are responsible for the preparation and presentation ofthese standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 ofthe Act 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 ofthe Act for safeguarding ofthe assets ofthe Company 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 the design, implementation and maintenance ofadequate intemal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation ofthe standalone financial results lhat give a true and fair view and are free from mate misstatement, whether due to fraud or error

BATLIBOI & PUROHIT continuationsheet Chartered Accountants

ln preparing the standalone financial results, the Management and the Board ofDirectors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis ofaccounting unless the Board ofDirectors either intends to liquidate the Company or to cease operations, or has no realistic altemative but to do so.

The Board of Directors is responsible for overseeing the Company's financial reporting process

Auditor's Responsibilities for the Audit of the Standalone financial results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are 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 ofassurance, 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 ofthese standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• . Identify and assess the risks of material misstatement of the standalone financial results, 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 for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal control.
• . Obtain an understanding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) ofthe Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• . Evaluate the appropriateness ofaccounting policies used and the reasonableness ofaccounting estimates and related disclosures in the standalone financial results made by the Management and Board ofDirectors.
• . Conclude on the appropriateness ofthe Management and Board of Directors use of the going concern 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 the appropriateness of this assumption. 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 standalone financial results or, if such disclosures are inadequate, to modiff our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's repofi. However, future events or conditions may cause the Company to cease to continue as a going concem.
• . Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.
• . Obtain sufficient appropriate audit evidence regarding the Standalone financial results ofthe Company to express an opinion on the standalone financial results.

Materiality is the magnitude of misstatements in the standalone financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone financial results may be influenced. We consider quantitative materiality and qualitative

BATLIBOI & PUROHIT Continuation Sheet Chartered Accountants

factors in (i) planning the scope ofour audit work and in evaluating the results ofour work; and (ii) to evaluate the effect of any identified misstatements in the Standalone financial results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing ofthe audit and significant audit findings, including any significant deficiencies in intemal control that we identiry 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.

Other Matters

The standalone financial results include the results for the quarter ended 3l March 2024, being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter ofthe current financial year which were subject to limited review by us.

Our opinion is not modified in respect ofthis matter.

For BATLIBOI & PIIROHIT

Chartered Accountants lCAl Firrn Reg. No.1 01048W

1 .":J W-^=+=

Atul Mehta Partler Membership No. 15935 ICAI UDIN: 2.101593 5BKIICNFI8950

Place: Mumbai Date: May 28,2024

[ CIN NO: L65990MH1985PLC038164 ] Regd. Office : Empire House, 214, Dr. D.N.Road, Ent. A. K. Nayak Marg, Fort, Mumbai - 400 001,

	AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2024
s			Quarter Ended		Year Ended
o	Particulars	310324	311223	310323	310324	310323
		Audited	UnAudited _ Audited		_Audited	Audited
T	[Income
	Revenue from Operations (a)	306407	284197	3,768.26(	12,29041	13,514.32
	Other Income (b)	10.79	4073	5.49	56.46	43.01
	Total Income	307486	2,882.70	3,773.75	12,346.87	13,557.33
2	Expenses
	Cost of Materials Consumed (a)	1,098.19	88069	1,25134	413019	498132
	(b) Changes in Inventories of Finished Goods, Work-in-Progress
	and Stock-in-Trade	(96.21)[	5281	10405	(113.75)	14065
	Direct, Operating & Manufacturing Expenses (c)	266.40	202.87	22971	1,020.27	991.42
	Employee Benefit Expenses (d)	266.11	268.13	20298	1,056.79	927.72
	Finance costs (e)	1453	1851	23.47	65.23	95.56
	Depreciation and Amortisation expenses (f)	6436	65.04	7769 67564	27315	317.67
	Power & Fuel (g) (h) Job Work Charges	583.83 385.92	535.29 41019	48938	2,314.83 1,655.92	2,581.06 1,735.97
	Other Expenses	2061	17365	377.49	750.67	89932
	(i) Total Expenses	280374	2,607.18	3,521.75	11,153.30	12,670.69
3 4	[Profit before exceptional items and tax (1-2) Exceptional ltems	7112 -	27552 -	25200 -	119357 -	886.64 -
5	Profit before tax (3-4) 6 Tax Expenses	7112	27552	25200	1,193.57	886.68
	Current Tax (a)	67.00	37.00	111.00	310.00	291.00
	(b) Tax Expense Relating to Earlier Year's	(24.80)	(50.12)	-	(74.94)	167
	Deferred Tax ()	(10.74)	305	(0.09)	081	(18.27)
7	Profit/(Loss) for the period (5-6)	23966	28561	141.09	957.70	61224
	8 Other Comprehensive Income (OCI)
	(A) items that will not be reclassified to Profit and Loss
	(i) Re-measurment gain/(Loss) on Defined benefit plan	(7.44)	-	(19.15)	(7.44)	(19.15)
	Income tax effect on above Shares (i)	187	-	438	187	438
	fair value through OCI (iil) Net gain/(Loss) on Equity	(059)	816	2666	(6.83)	242
	(iv) Income tax effect on above	013	(1.52)	(5.90)	1.56	(0.45)
	(B) Items that will be reclassified to Profit and Loss	-	-	-	-	-
	Total Other Comprehensive Income	(6.03)	6.64	599	(10.8)	(12.80)
	Total Comprehensive Income (after Tax) (7+8)	23363	29225	147.08	946.86	599.44
9	[Paid-up Equity Share Capital (Face value of Rs. 10/- each)	1,585.90	1,585.90	1,585.90	1,585.90	1,585.90
	10 [Other Equity				491846	405090
	11 Earning per Share (of Rs. 10/- each) (Quarter figures not
	Basic	151	180	0.89	604	386
	Diluted	151	180	089	6.04	3.86

Notes to Financial Results:

1 The above results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under Section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 (as amended).

~ These results have been reviewed by the Audit Committee at the meeting held on 28.05.2024 and approved by the Board of Directors.

• w The statutory auditors have issued an unmodified report on the above results
• IS The Company is primarily operating in the business of processing and manufacture of textiles. Hence, there is only one business segment as per Ind-AS 108 - Operating Segments.
• "« The figures for the quarters ended March 31, 2024 and March 31, 2023 are the balancing figures between audited figures in respect of full financial years and the published unaudited year to date figures upto third quarter of the relevant financial year, which were subject to limited review.

& The Board of Directors recommended a final dividend of Rs.0.50 per fully paid equity Share, subject to approval of Share holders.

~ Previous period's figures have been regrouped/reclassified wherever necessary.

Place:-Mumbai Date : 28TH MAY 2024

For and on behalf of the Board

Fort, Mumbai - 400 001.

[ CIN NO: L65990MH1985PLC038164 ]

Website: www.weizmann.co.in E-mail: contact@weizmann.co.in Tel: 022 22071501 (6 Lines) Fax: 022 22071514

AUDITED STANDALONE STATEMENT OF ASSETS AND LIABILITIES As at 31st March 2024

		Rs. in lakhs
	310320	3103203
	AUDITED	AUDITED
ASSETS
Non-current assets
(a) Property, plant and equipment	2,642.66	272511
(b) Right of Use Assets	-	1.60
(c) Capital work-in-progress	7489	2066
(d) Financial assets
Investments (i)	2,738.47	271965
Other Non-current financial assets. (i)	214.07	175.78
(e) Income Tax Assets (Net)	75.23	137.14
Other Non-current assets (f)	913.47	724.30
Total Non Current Assets	6,658.79	6,513.24
Current assets
(a) Inventories	974.18	840.96
(b) Financial assets
Equity Instruments held for Trading (i)	062	064
(ii) Trade receivables	861.41	1,381.77
(iii) Cash and Cash Equivalents	7855	124.22
(iv) Bank Balances other than (ii) above	3376	34.90
Loans (v)	4255	3364
(c) Other current assets	294.63	42063
Total Current Assets	2,285.70	2,836.76
TOTAL ASSETS	8,944.49	9,350.00
EQUITY AND LIABILITIES
Equity
Equity share capital (a)	1,585.90	1,685.90
(b) Other equity	4,918.46	4,050.90
Total Equity	6,504.36	5,636.80
Lial ies.
Non-current liabilities
(a) Financial liabilities
Borrowings (i)	-	3036
Lease Liabliities (i)	-	-
(iii) Other financial liabilities	-	-
(iv) Provisions	26.78	1534
(b) Deferred tax labilities (net)	169.49	172.11
Total Non Current Liabil	196.27	226.81
Current liabi
Financial liabilities (a)
Borrowings (i)	77293	112578
Lease Liabliities (i)		172
(iii) Trade payables
- Total outstanding dues of micro enterprises and small
enterprises	-	-
"Total Outstanding dues of Creditors other than micro
enterprises and small enterprises	1,196.96	1,964.14
(iv) Other financial liabilities	96.50	119.29
(b) Other current liabilities	28.13	160.85
(c) Provisions	149.34	114,61
Total Current Liabilities	2,243.86	3,486.39
TOTAL EQUITY AND LIABILITIES	8,944.49	9,350.00

Place:-Mumbai Date : 28th May, 24

Fof|and on behalf of the Board

rXs </

N VicelChairman & Managing Director DIN:00021986 kamal Vrajlal Siraj

	Rs. in lakhs
--	--------------	--

Eadesna	31.03.2024		31.03.2023
[Net Profit / (Loss) before exceptional items and tax		119357		886.64
Adjustments for
Depreciation and amortisation	273.15		31767
(Profit) / Loss on Sale / Write off of Assets	9.45		1097
Finance Costs	65.23		95.56
Interest Income	(17.17)		(13.29)
Dividend Income	(0.29)		(0.19)
(Profity/Loss on Sale of Securities/Investments	(0.01)		017
Income - Fair Value Gain on MF Investment	(0.80)f
Sundry Balances Wiitien (Back) / Off	(1.98)
Liabilities / Provisions no longer required written back	(32.19)]		(14.04)]
Operating Profit / (Loss) before changes in Assets & Liabilities		29539		396.85
before Working Capital Changes Operating Profit / (Loss)		1,488.96		1,283.49
hanges in ca) working
Adjustments for (Increase) / Decrease in Operating Assets:
Inventories	(133.22)		(62.95)
Trade Receivables	56255		(189.20)
Short-Term Loans and Advances	(8.91)		166.48
Other Financial Assets	(38.29)		(0.21)
Other Current & Non Current Assets	(63.17)		(30.13)
Bank Deposits	114		0.92
Adjustments for Increase / (Decrease) in Operating liabilities:	(765.20)		(112.58)
Trade Payables	(132.72)		78.57
Other Current Liabilties Other Financial Liabilities	(24.51)		9.02
Provisions	38.74		112.19
		(573.59)		(27.89)
Cash Generated from Operations.		915.37		1,255.60
Net Income Tax (Paid) / Refunds		(173.24)		(274.28)
Net Cash Flow from / (used in) Operating Activities (A)		742.13		981.32
B. Cash Flow from Investing Activities
Purchase of Fixed Assets, including Capital work in progress	(271.08)		(267.36)
Proceeds from Sale/Discarded of Fixed Assets	2908		451
Proceeds from Redemption of Preference Shares	-
Proceeds from Sale of Long-Term Investments	(24.81)		37.78
Proceeds from sale of Equity Instruments for Trading	001
Interest Received	1747 029		13.29 0.19
Dividend Received Rental (Expense)/income from Investment Properties
Net Cash Flow from / (used in) Investing Activities (B)	-	(249.39)		211.59)
C. Cash Flow from Financing Activities	(39.36)]		(11.95)]
Long-term borrowings Short-Term Borrowings	(352.85)		(649.96)
Principal payment of Leases	(1.80)		(12.:30)
Finance Cost	(85.15)}		(94.62)
Dividend Paid	(79.30)}		(79.30)
Net Cash Flow from / (used in) Financing Activities (C)		(538.46)		(848.13)
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)		@5.67)		(78.40)
Cash and Cash Equivalents at the Beginning of the Year		12422		20262
Cash and Cash Equivalents at the End of the Year		78.55		12422
[Reconciliation of Cash and Cash Equivalents with the Balance Sheet:
Cash and Cash Equivalents at the End of the Year *
* Comprises:
(@) Cash on Hand	751		761
(b) Cheques, Dratfts on Hand	-		-
(c) Balances with Banks () In Current Accounts	71.04	78.55	11661 ]	12422

As per our report of even date attached / For and on behalf of the Board

Place : Mumbai Dated : 28th May, 2024

| g

DIN: 00421986 Neelkamal Vrajlal Siraj Vice-Chairman & Managing Director

CIN:L65990MH1985PLC038164

Regd. Office : 214, Empire House, Dr. D. N. Road, Ent. A. K. NayakMarg, Fort, Mumbai — 400 001. Website: www.weizmann.co.in, Email: contact@weizmann.co.in Tel. Nos :022-22071501 ( 6 lines) Fax No.: 022-22071514

28t May, 2024

National Stock Exchange of India Limited	BSE Limited
Listing Department.	Corporate Relation Department,
Exchange Plaza, C-1, Block- G,	Listing Department,
BandraKurla Complex,	Phirozeleejeebhoy Towers,
Bandra (East) Mumbai—400 051.	Dalal Street, Mumbai — 400 023.
Fax No. 26598235/8237/8347.	Facsimile No. 22723121/22722037/2041
Symbol: WEIZMANIND	Scrip Code: 523011

Dear Sir/Madam,

Sub: Declaration pursuant to Regulation 33 (3) (d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR")

In compliance with provisions of Regulation 33(3)(d) of SEBI LODR, we hereby declare that, Statutory Auditors of the Company M/s. Batliboi & Purohit, Chartered Accountants (FRN : 101048W) have issued an Audit Report with unmodified opinion on Audited Financial Results (Standalone and Consolidated) of the Company for the year ended 31st March, 2024.

You are requested to take note of the same.

Thanking You. Yours Sincerely, For Weizmann Limited

: i > %Z@@@

Sreerama Sudhakar Tammana Chief Financial Officer