Weizmann Limited. — Interim / Quarterly Report 2021

Aug 12, 2021

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

Weizmann
wr Limited
L65990MH1985PLC038164 CIN:
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.in Tel. Nos :022-22071501 ( 6 lines) Fax No.: 022-22071514
12" August, 2021
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

Dear Sir/Madam,

Sub:Outcome of Board Meeting

Pursuant to Regulation 30 read with Disclosure Requirements) Regulations, Un-audited Financial Results (Standalone 2021 along with the Limited Review Repo Regulation 33 of SEBI (Listing Obligations and 2015, this is to inform you that the Board of Directors at its meeting held today i.e. on 12'* August, 2021 have adopted and approved and Consolidated) for the quarter ended 30" June, rts of the Statutory Auditors.

Copies of Un-audited Financial Results (Standalone and Consolidated) along with the Limited Review Reports of the Statutory Auditors for the quarter ended 30° June, 2021 are enclosed herewith.

The Board Meeting commenced at 3.00 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

qe"

Ami Purohit Company Secretary

Encl. as above

BATLIBOI & PUROHIT Chartered Accountants

Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of Weizmann Limited.

To the Board of Directors of Weizmann Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Weizmann Limited ("the Company") for the quarter ended June 30, 2021 ('the Standalone Statement'). The Standalone Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('Listing Regulations') as amended.
• This Standalone 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 (Ind AS), prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Standalone Statement based on our review.
• We conducted our review of the Standalone Statement in accordance with the Standard on Review Engagement (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 Standalone Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures 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.
• Based on our review conducted and procedures performed as stated above, nothing has come to our attention that causes us to believe that the accompanying Standalone Statement of unaudited financial results have not been prepared in accordance with Indian Accounting Standards (Ind AS) specified under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies generally accepted in India or that it contains any material misstatement.
• Attention is drawn to the fact that the figures for the 3 months ended March 31, 2021 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

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

a Mlle —

Kaushal Mehta Partner Membership No. 111749 Place: Mumbai Date: August 12, 2021 ICAI UDIN: 21111749AAAAFJ1283

WVeizmann 'ZF t_imited

[ 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 (Rs. in Lakhs except per share data )

	WVeizmann t_imited
	'ZF
	[ 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
				(Rs. in Lakhs except per share data )
	UN-AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021
Sr			Quarter Ended	Year ended
Ng	Pariculors	30.06.21	31.03.21	30.06.20	31.03.21
1	Income	Unaudited	Audited	Unaudited	Audited
	Revenue from Operations (a)	2,129.42	3,461.86 15.59	953.34 16.13	9,761.58 66.66
	Other Income (b) Total Income	4.46 2,133.88	3,477.45	969.47	9,828.24
2	Expenses		1,403.11	274.25	3,734.52
	Cost of Materials Consumed (a) (b) Changes in Inventories of Finished Goods, Work-in-Progress	905.95]
	and Stock-in-Trade	(58.92)	15.79	71.70	23.65
	Employee Benefit Expenses (c)	243.57	215.90 30.71	127.41 35.24	762.58 128.69
	Finance costs (d) Depreciation and Amortisation expenses	8.57 85.22	87.85	62.47	311.14
	(e) Power & Fuel (f)	347.15	457.98	108.89	1,327.61
	Job Work Charges (g)	332.64	500.35	104.39 125.16	1,341.96 1,439.54
	Other Expenses (h) Total Expenses	268.80 2,132.98	449.71 3,161.40	909.51	9,069.69
3 4	Profit before exceptional items and tax (1-2) Exceptional Items	0.90 -	316.05 :	59.96 :	758.55 =
5	Profit before tax (3-4)	0.90	316.05	59.96.	758.55
6	Tax Expenses	-	47.00	17.50	187.00
	Current Tax (a) (b) Current Tax Expense Relating to Earlier Year's	2	49.57	+	59.06
	Deferred Tax (c)	0.29	43.39	1.56	20.23
7	Profit/(Loss) for the period (5-6)	0.61	176.09	40.90	492.26
	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	-	(2.14)	-	(2.14)
	(ii) Income tax effect on above	-	0.60	-	0.60
		(72.01)	(62.97)	24.05	(70.80)
	(iii) Net gain/(Loss) on Equity Shares fair value through OCI (iv) Income tax effect on above	16.03	14.02	(5.35)	15.76
	(B) Items that will be reclassified to Profit and Loss	-	-	-	-
	Total Other Comprehensive Income	(55.98)	(50.49)	18.70	(56.58)
	Total Comprehensive Income (after Tax) (7+8)	(55.37)	125.60	59.60	435.68
	Paid-up Equity Share Capital (Face value of Rs. 10/- each)	1,727.15	T/27as	1,727.15	1,727.15 4,256.74
9	10 Other Equity Earning per Share (of Rs. 10/- each) (Quarter figures not
		0.004	1.020	0.237	2.850
	11 Jannualised) Basic

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 and approved by the Board of Directors at the meeting held on 12th August 2021 and have been subject to 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 considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of these financial statements including the recoverability of carrying amounts of financial and nonfinancial assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Company has, at the date of approval of these financial statements, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's financial statements may differ from that estimated as at the date of approval of these Financial chatamante
• The figures for the quarter ended 31st March, 2021 are balancing figures between the figures of the audited full financial year and published year to date full unaudited figures upto the third quarter of the respective financial year.
• Previous period's figures have been regrouped/reclassified wherever necessary.

Fokand on behalf of the Board R owed" © Place:-Mumbai at Vice-Chairman & Managing Director

DIN: 00021986

BATLIBOI & PUROHIT Chartered Accountants

Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results of Weizmann Limited.

To the Board of Directors of Weizmann Limited

• 1. We have reviewed the accompanying statement of 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 ended June 30, 2021 ('the 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 ('Listing Regulations'), as amended.
• This Consolidated Statement, which is the responsibility of the 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 Standards prescribed under Section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Consolidated Statement based on our review.
• We conducted our review of the Consolidated Statement in accordance with the Standard on Review Engagement (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 Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures 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.

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.

• The Consolidated Statement includes the results of one associate namely Windia Infrastructure Finance Limited. (a Non-Banking Finance Company)
• Based on our review conducted and procedures performed in para 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited financial results have not been prepared in accordance with Indian Accounting Standards (Ind AS) specified under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies generally accepted in India or that it contains any material misstatement.
• Attention is drawn to the fact that the figures for the 3 months ended March 31, 2021 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

BATLIBOI!I & PUROHIT Continuation Sheet

Chartered Accountants

1. The Consolidated Statement includes the Holding Company's share of net profit of Rs. 18.01 lakhs and other comprehensive loss of Rs. 36.10 lakhs for the quarter ended June 30, 2021, in respect of the associate company. These financial statements have been prepared in accordance with the accounting standards prescribed under section 133 of the Companies Act, 2013 read together with paragraph 7 of the Companies (Accounts) Rules, 2014 (hereinafter referred to as the 'previous GAAP') and have been reviewed by other auditor whose report have been furnished to us by the management of the Holding Company has restated these Financial Statements in accordance with Companies (Indian Accounting Standards) Rules, 2015 (ind AS) and are reviewed by us so far as it related to conversion adjustments from Previous GAAP to Ind AS. Our Report on the statement, in so far as it relates to the amounts and disclosures included in respect of this associate, 1s based solely on the review report of the other auditor and our review of the said conversion adjustments. Our conclusion on the consolidated statements 1s not modified in respect of our reliance on the work done and the report of the other auditor.

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

{di Mie:

Kaushal Mehta Partner Membership No. 111749 Place: Mumbai Date: August 12, 2021 ICAI UDIN: 21111749AAAAFK1247

[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 (Rs. in Lakhs except per share data )

Year ended Quarter Ended Sr 31.03.21 30.06.20 31.03.21 30.06.21 Particulars No Audited Unaudited Audited Unaudited 1 Income 9,761.58 953.34 3,461.86 2,129.42 Revenue from Operations (a) 66.66 16.13 15.59 4.46 (b) Other Income 9,828.24 969.47 2,133.88 3,477.45 Total Income Expenses 2 3,734.52 274.25 1,403.11 905.95 (a) Cost of Materials Consumed (b): Changes in Inventories of Finished Goods, Work-in-Progress 23.65 71.70 (58.92) 15.79 and Stock-in-Trade 762.58 127.41 215.90 243.57 Employee Benefit Expenses (c) 128.69 35.24 30.71 8.57 (d) Finance costs 311.14 62.47 87.85 85.22 Depreciation and Amortisation expenses (e) 1,327.61 108.89 457.98 347.15 Power & Fuel (f) 1,341.96 104.39 500.35 332.64 (g) Job Work Charges 1,439.54 125.16 449.71 268.80 (h) Other Expenses 9,069.69 909.51 3,161.40 2,132.98 Total Expenses 758.55 59.96 316.05 0.90 Profit before exceptional items and tax (1-2) 3 - - : - Exceptional Items 4 758.55 59.96 316.05 0.90 Profit before tax (3-4) 5 6 Tax Expenses 187.00 17.50 47.00 " Current Tax (a) 59.06 - 49.57 - Current Tax Expense Relating to Earlier Year's (b) 20.23 1.56 43.39 0.29 Deferred Tax (c) 492.26 40.90 176.09 0.61 Profit/(Loss) for the perod (5-6) 7 26.39 25.49 (104.27) 18.01 Add: Share in Profit/(Loss) of Associate 518.65 66.39 71.82 18.62 8 Total Net Profit/(Loss) after Tax 8 Other Comprehensive Income (OCI) (A) Items that will not be reclassified to Profit and Loss (2.14) - (2.14) - (i) Re-measurment gain/(Loss) on Defined benefit plan 0.60 - 0.60 - (ii) Income tax effect on above (70.80) 24.05 (62.97) (72.01) (iii) Net gain/(Loss) on Equity Shares fair value through OCI 15.76 (5.35) 14.02 16.03 (iv) Income tax effect on above (45.38) 6.14 (17.98) (36.10) (v) Share in OCI of Associate - a - - (B) Items that will be reclassified to Profit and Loss (101.96) 24.84 (68.47) (92.08) Total Other Comprehensive Income 416.69 91.23 3.35 (73.46) Total Comprehensive Income (after Tax) (7+8) 1,727.15 1,727.15 1,727.15 1,727.15 Paid-up Equity Share Capital (Face value of Rs. 10/- each) 9 5,723.11 S : < 10 Other Equity Earning per Share (of Rs. 10/- each) (Quarter figures not 11 J annualised) 3.003 0.384 0.416 0.108 Basic 3.003 0.384 0.416 0.108		UN-AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021
		Diluted
	1
The above results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under		(as amended).
Section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015	nN
These results have been reviewed by the Audit Committee and approved by the Board of Directors at the meeting
held on 12th August 2021 and have been subject to Limited Review by the Statutory Auditors.		one business segment as per Ind-AS 108 - Operating Segments.
The Company is primarily operating in the business of processing and manufacture of textiles. Hence, there is only
The Company has considered the possible effects that may result from the pandemic relating to COVID-19 in the
preparation of these financial statements including the recoverability of carrying amounts of financial and non financial assets. In developing the assumptions relating to the possible future uncertainties in the economic
conditions because of this pandemic, the Company has, at the date of approval of these consolidated financial statements, used internal and external sources of information and expects that the carrying amount of these assets
will be recovered. The impact of COVID-19 on the Company's financial statements may differ from that estimated as
at the date nf annrnual af theca finanrial etatamentc
The figures for the quarter ended 31st March, 2021 are balancing figures between the figures of the audited full financial year and published year to date full unaudited figures upto the third quarter of the respective financial year.
Previous period's figures have been regrouped/reclassified wherever necessary. 6
		Place:-Mumbai
Neelkamal\Vrajlal Siraj Date : 12th August 2021
			DIN: 00021986	Vice-Chairman & Managing Director

Notes to Financial Results:

• nN These results have been reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on 12th August 2021 and have been subject to 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 considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of these financial statements including the recoverability of carrying amounts of financial and nonfinancial assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Company has, at the date of approval of these consolidated financial statements, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's financial statements may differ from that estimated as at the date nf annrnual af theca finanrial etatamentc
• The figures for the quarter ended 31st March, 2021 are balancing figures between the figures of the audited full financial year and published year to date full unaudited figures upto the third quarter of the respective financial year.

Date : 12th August 2021 Neelkamal\Vrajlal Siraj Vice-Chairman & Managing Director