Weizmann Limited. — Interim / Quarterly Report 2020

Feb 14, 2020

wh	Weizmann-
M7	Limited
	CIN : L65990MH1985PLC038164
	Regd. Office : 214, Empire House, Dr. D. N. Road, Ent. A. K. Nayak Marg, Fort, Mumbai — 400 001.
	Website: www.weizmann.co.in, Email: contact@weizmann.co.inTel. Nos : 022-22071501 ( 6 lines) Fax No.: 022-22071514
14" February, 2020i
National Stock Exchange of India Limited	BSE Limited
Listing Department.	Corporate Relation Department,
Exchange Plaza, C-1, Block- G,	Listing Department,
Bandra Kurla Complex,	Phiroze Jeejeebhoy 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

Sub: Outcome of Board Meeting

Dear Sir/ Madam,

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 14" February, 2020 have adopted and approved Un-Audited Financial Results (Standalone and Consolidated) for the quarter and nine months ended 31° December, 2019 along with the Limited Review Report of the Statutory Auditors.

Copies of Un-Audited Financial Results (Standalone and Consolidated) along with the Limited Review Report of the Statutory Auditors for the quarter and nine months ended 31% December, 2019 are enclosed herewith.

The Board Meeting commenced at 6.30 p.m. and concluded at 7.05 p.m.

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

Thanking You.

Yours Sincerely, For Weizmann Limited

Ami Purohit Company Secretary

BATLIBOI & PUROHIT Chartered Accountants

Independent Auditor's Report on the Interim Unaudited Standalone Financial Results of Weizmann Limited pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to the Board of Directors of Weizmann Limited

a

• Is We have reviewed the accompanying statement of unaudited standalone financial results of Weizmann Limited ("the Company") for the quarter and nine months ended December 31, 2019 ("the Statement"), attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 pf Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
• 1. This Statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), specified under Section 133 of the Companies Act, 2013, as amended read with relevant tules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. 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 Statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and an analytical procedure 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.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Standalone Statement of unaudited financial results has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard 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 Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Batliboi & Purohit Chartered Accountants ICAI Firm Reg. No, 101048W {.a- Ml L=

wantias . Partner Membership.No. 111749

Place: Mumbai Date: February 14, 2020

ICAI UDIN: 20111749AAAAAX7105

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			ei2zmannmited
	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		[ CIN NO: L65990MH1985PLC038164 ]		Phone : 022-2207 1501
	UNAUDITED STANDALONE FINANCIAL RESULTS				FOR THE QUARTER AND NINE MONTH ENDED DECEMBER 31, 2019	(Rs. in Lacs except per share data)
	Parieulack		Quarter Ended (Unaudited)		Nine Months Ended(Unaudited)		Year ended(Audited)
	*	31.12.19	30.09.19	31.12.18	31.12.19	31.12.18	31.03.19
1	IncomeRevenue from Operations(a)	2,486.81	2,209.26	2,381.56	7,152.76	8,052.65	~ee10,472.64
	(b) Other Income	4.20	3.87	49.45	19.14	173.65	194.12
2	Total IncomeoS Expenses	2,491.01	2,213.13	2,431.01	7,171.87	8,226.30	10,666.76
	Cost of Materials Consumed(a)Purchases of Stock-in-trade(b)Changes in Inventories of Finished Goods, Work-in(c)	870.40-	893.39-	810.08(14.52)	2,584.54	3,670.29-	4,502.31-
	Progress and Stock-in-Trade	20.02	(38.23)	183.09	53.56	189.60	(18.45)
	Employee Benefit Expenses(d)Finance costs(e)	195.795.59	140.1214.68	175.791.26	513.6132.96	532.384.27	732.338.70
		55.96	62.26	60.12	184.97	118.60	171.98
	Depreciation and Amortisation expenses(f)			-	400.00	°	400.00
	(g) Advertisement ExpensesPower & Fuel(h)	-371.65	-332.35	324.50	1,057.07	970.04	1,335.81
	Job Work Charges(i)	277.25	226.14	263.89	769.52	750.42	1,055.28
	Other Expenses(j)Total Expenses	437.932,234.59	338.77,1,969.48	417.782,211.98	1,143.036,739.26	970.147,205.74	1,361.209,549.16
	3 Profit before exceptional items and tax (1-2)	256.42	243.65	219.03	432.61	1,020.56	1,117.60
4	Exceptional Items5 Profit before tax (3-4)	-256.42	-243.65	-219.03	>432.61	1,020.56	ce1,117.60
	6 Tax Expenses(a) Current Tax	76.00	53.00	47.24	129.00	275.00	314.45
	(b) Current Tax Expense Relating to Earlier Year's	-	-	(25.98)		(25.98)	(7.74)
	Deferred Tax(c)7 Profit/(Loss) for the period/year (5-6)	4.76175.66	18.00172.65	(29.88)227.65	7.44296.20	(126.33)897.87	(46.07)856.97
	8 Total Net Profit/(Loss) after Tax9 Other Comprehensive Income (OCI)	175.66	172.65	227.65	296.20	897.87	856.97
	(A) Items that will not be reclassified to Profit and Loss
	(i) Re-measurment gain/(Loss) on Defined benefitplan	-	-	-			1.90
	(ii) Income tax effect on above	-	-	-			(0.55)
	(iii) Net gain/(Loss) on Equity Shares fair valuethrough OCI	(14.73)	586.03	(3.22)	436.43	(414.25)	(1,121.27)
	(iv) Income tax effect on above	3.43	(136.52)	0.72	(101.67)	92.20	261.21
	(B) Items that will be reclassified to Profit and LossTotal Other Comprehensive Income	-(11.30)	-449.51	-(2.50)	334.76	(322.05)	-(858.71)
	Total Comprehensive Income (after Tax) (7+8)	164.36	622.16	225.15	630.96	575.82	(1.74)
	10 Paid-up Equity Share Capital (Face value of Re. 10/- each11 Earning per Share (Rs.)Basic	1,727.151.02	4,727,15:1.00	4,727.151.32	4,727.15	1,727.155.20	4,727.15.4.96

Notes to the 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 and approved by the Board of Directors at the meeting held on February 14, 2020 and have been subjected to a Limited Review by the statutory auditors.

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 Company has adopted simplified approach under Ind AS 116 - Leases, with effect from April 01, 2019. Accordingly the Company has recognised present value of its future lease liabilities of Rs.59.92 lacs as on April 01, 2019 and an equal amount of 'Right to use' assets as on that date. In the statement of profit and loss for the current period, instead of rent expenses (as accounted under previous periods), amortisation of right of use has been accounted under depreciation and amortisation expenses and unwinding of discount on lease liabilities has been accounted under 'finance cost'. The impact on the profit/(Loss) for the quarter is not material.

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

Date :- February 14, 2020 Place:-Mumbai

—>— For and on behalf of the Board row NS Neelkamal Vrajlal Siraj Managing Director

ES

DIN: 00021986

BATLIBOI & PUROHIT Chartered Accountants 2

Independent Auditor's Report on the Interim Unaudited Consolidated Financial Results of Weizmann Limited pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To Board of Directors of Weizmann Limited

• 1. We have reviewed the unaudited consolidated financial results of Weizmann Limited , ~~ (hereinafter referred to as the "Holding Company") and its associate (collectively referred to as "the Group") for the quarter and nine months ended December 31, 2019 ("Consolidated Statement"), attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
• 1. This Consolidated Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Consolidated Statement based on our review.
• 1. We conducted our review of the Consolidated 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 of interim financial information consists of making inquiries, primarily of persons 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 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.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) , Regulations, 2015, as amended, to the extent applicable.

1. This Consolidated Statement includes the results of the Windia Infrastructure Finance Limited ('WIFL') (Associate of the Holding Company).

Results of WIFL further includes the results of the following:

• Dabripada Energy Limited (subsidiary of WIFL)
• Trueman Properties Private Limited (associate of WIFL)
• Avinaya Resources Limited (associate of WIFL)
• Brahmanavel Energy Projects Limited (associate of WIFL up to 15" September, 2019)
• Khandesh Energy Projects Limited (associate of WIFL up to 15" September, 2019)
• Vajharpada Energy Limited (associate of WIFL up to 15" September, 2019) RB meaoge
• Weizmann Corporate Services Limited (associate of WIFL up to 15" September, 2019

Vi,

i

BATLIBOI & PUROHIT Continuation Sheet

Chartered Accountants :

• 1. The Consolidated Statement includes the Holding Company's share of net profit of Rs 10.98 lakhs and other comprehensive Income of Rs 22.74 lakhs for the quarter ended December 31, 2019and net loss of Rs 147.52 lakhs and other comprehensive Income of Rs 0.64 lakhs for the nine months ended December 31, 2019 as considered in the consolidated results. These financial results are not reviewed by other auditor and are certified by the management.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and, subject to the effects of the matter specified in paragraph 5 above, nothing has come to our attention that causes us to believe that the accompanying Consolidated Statement of unaudited financial results has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard 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 Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. Attention is drawn to Note 5 of the Consolidated Statement which states that the consolidated figures for the quarter and nine months ended December 31, 2018, as reported in the Consolidated Statement have been approved by the Holding Company's Board of Directors, but have not been subjected to our review.

For Batliboi & Purohit Chartered Accountants ICAI Firm Reg. No. 101048W { A Mh LE . a ee

Kaushal Mehta Partner Membership No. 111749 Place: Mumbai Date: February 14, 2020 ICAI UDIN:20111749AAAAAY6207

[ CIN NO: L65990MH1985PLC038164 J

	Weizmann'whe
	'OP	timited
	[ CIN NO: L65990MH1985PLC038164 JEmpire House, 214, Dr. D.N.Road, Ent. A. K. Nayak Marg, Fort, Mumbai - 400 001Regd. Office
	Website: www.weizmann.co.in E-mail : contact@weizmann.co.in			Phone : 022-2207 1501THE QUARTER AND NINE MONTH ENDED DECEMBER 31, 2019	(Rs. in Lacs except per share data )
	UNAUDITED CONSOLIDATED FINANCIAL RESULTS FORParticulars		Quarter Ended (Unaudited)	i	Nine Months Ended(Unaudited)		aeveer
				31.12.19 30.09.19 34.12.18 31.12.19		31.12.18	31.03.19
1	IncomeRevenue from Operations(a)	2,486.81 2,209.26		2,381.56 7,152.76			8,052.65 10,472.64
	(b) Other IncomeTotal Income	4.20	3.872,491.01 2,213.13	49.452,431.01 7,171.87	19.11	AVSI65	194.12
2	Expenses.Cost of Materials Consumed(a)					8,226.30	10,666.76
		870.40	893.39		810.08 } 2,584.54	3.670.29	4,502.31
	Purchases of Stock-in-trade(b)Changes in Inventories of Finished Goods, Work-in-	-	-	(14.52)	-
	(b) Progress and Stock-in-TradeEmployee Benefit Expenses(c)	20.02195.79	(38.23)140.12	183.09175.79	53.56513.61	189,60532.38	(18.45)732.33
	Finance costs(d)Depreciation and Amortisation expenses(e)	5.5955.96	14.6862.26	1.2550.12	32.96184.97	4.27118.60	8.70171.98
	Advertisement Expenses(f)Power & Fuel(g)(h) Job Work Charges	-371.652725	-392/35226.14	-324.50 263.89	400.001,057.07769.52	-970.04750.42	400.001,335.811,055.28
	Other Expenses(i)Total Expenses	437.93	338.772,234.59 1,969.48	417.782,211.98	1,143.036,739.26	970.147,205.74	1,361.209,549.16
4	3 Profit before exceptional items and tax (1-2)Exceptional Items	256.42-	243.65-	219.03-	432.61-	1,020.56-	1,117.60-
	5 Profit before tax (3-4)6 Tax Expenses	256.42	243.65	219.03	432.61	1,020.56	1,117.60
	Current Tax(a)Current Tax Expense Relating to Earlier Year's(b)	76.00-	53.00-	47.24(25.98)	129.00:	275.00(25.98)	314.45(7.74)
	Deferred Tax(c)7 Profit(Loss) for the period/year (5-6)	4.76175.66	18.00172.65	(29.88)227.65	7.41296.20	(126.33)897.87	(46.07)856.96
	Add: Share in Profit(Loss) of Associate8 Total Net Profit/(Loss) after Tax	10.98186.64	(16.18)156.47	126.41354.06	(147.52)148.68	162.241,060.11	(224.27)632.69
	9 Other Comprehensive Income (OCI)(A) Items that will not be reclassified to Profit and Loss
	(i) Re-measurment gain/(Loss) on Defined benefit plan(ii) Income tax effect on above	--	«:	--	--	--	1.90(0.55)
	(iii) Net gain/(Loss) on Equity Shares fair value through OCI(iv) Income tax effect on above	(14.73)3.43	586.03(136.52)	(3.22)0.72	436.43(101.67)	(414.25)}92.20	(1,121.27)261.21
	(v) Share in OCI of Associate(B) Items that will be reclassified to Profit and Loss	22.74-	(3.07) «	2,724.96-	0.64	(191.08)}	(2,931.10)
	Total Other Comprehensive IncomeTotal Comprehensive Income (after Tax) (8+9)10 Paid-up Equity Share Capital (Face value of Re. 10/- each)	11.44198.081,727. Vo	446.44 602.91gio T5	2,722.463,076.521,027.181	335.40484.081727115	(513.13)}546.974 2015	(3,789.81)(3,157.12)A 20S
	11 Earning per Share (Rs.)Basic	1.08	0.91	2.05	0.86	6.14	3.66

Notes to the 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 and approved by the Board of Directors at the meeting held on February 14, 2020 and have been subjected to a Limited Review by the Statutory Auditors

The Company is primarily operating in the business of processig and manufacture of textiles. Hence, there is only one business segment as per Ind AS 108-Operating Segments.

The Company has adopted simplified approach under Ind AS 116 - Leases, with effect from April 01, 2019. Accordingly the Company has recognised present value of its future lease liabilities of Rs.59.92 lacs as on April 01, 2019 and an equal amount of 'Right to use' assets as on that date. In the statement of profit and loss for the current period, instead of rent expenses (as accounted under previous periods), amortisation of right of use has been accounted under depreciation and amortisation expenses and unwinding of discount on !ease liabilities has been accounted under 'finance cost'. The impact on the profit/(Loss) for the quarter is not material.

• The Ind AS Compliant consolidated financial results for the quarter & nine months ended 31st December 2018 have not been reviewed by the statutory auditors. However, the management as excercised necessary due diligence to ensure that the said financial reuslts provide true and fair view of its affairs. .
• There are no non controling interest in the group.

Previous period's figures have

Date :- February 14, 2020 Place:-Mumbai

KLAN

and or behalf vr" M

Neelkz nal Vrajlai Siraj Managing Director DIN: 00021986