W.S. Industries (India) Ltd. — Interim / Quarterly Report 2021

Nov 12, 2021

12% November 2021

M/s. Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers, 25% Floor, Dalal Street, Mumbai - 400001

Scrip Code: 948574

Dear Sir,

Sub : Unaudited Financial Statements of the company for the Quarter and Half year ended 30" September 2021.

We enclose herewith the Unaudited Financial Statements of the company for the Quarter and Half year ended 30 September 2021 along with the Limited Review Audit Report, which was taken on record by the Board of Directors of the company at their meeting held today.

The Board Meeting started at 2.50 pm and concluded at 3.45 pm.

We request you to take on record the above.

Thanking You,

Yours faithfully, For Industries (India) Limited

~ =

B. SWAMINATHAN COMPANY SECRETARY

samen WWY/.S. Industries (India) Ltd. 108, Mount Poonamallee Road, Porur, Chennai - 600 116. India

Tel : (91) - 44- 24354754 CIN : L29142TN1961PLC004568 ( Dept E-mail : accounts@wsinsulators.com

Website : -wsindustries.in

42" November, 2021

Phiroze Jeejeebhoy Towers, 25" Floor Regd. Office: "Exchange Plaza" Dalal Street, Mumbai — 400 001. Bandra (East), Mumbai — 400 051. Scrip Code: 504220 Symbol : WSI

M/s.Bombay Stock Exchange Ltd. M/s.National Stock Exchange of India Ltd.

Dear Sir/Madam,

Sub: Unaudited quarterly and half yearly results (Standalone and Consolidated) for the second quarter/first half year ended 30th September 2021- submission of clarification on the opinion expressed by Auditors in their Limited Review Report.

The Auditors in their Limited Review Report on the Statement of Unaudited Standalone Financial Results for the period ended 30th September 2021, interalia, have reported as under:

>>>Quote

Basis for Qualified Opinion

The company's net worth has been completely eroded. The accumulated losses in the reporting period, amounts to Rs. 5181.30 millions (Previous year ended 31.03.2021 Rs. 5036.68 millions). Further the company has overdue loans to various financial institutions amounting to Rs.719.13 millions and the turnover during the period ended 30th Sept, 2021 is Rs. 6.94 millions (previous year ended 31.03.2021 Rs.15.64 millions) as per the books of accounts maintained.

In the absence of external confirmation of balance as at 30th Sept 2021 in respect of suppliers, customers, depositors, bank/financial institutions and others, we are unable to comment on it.

Material Uncertainty related to 'Going Concern'

We draw attention to the following note to the financial statements:

During the period under audit, there was no production in the Chennai and Vizag plants and are being considered as discontinued operations. Turnkey Project Business Segment is being considered as Continuing Operations.

These factors indicates the existence of a material uncertainty that may cause significant doubt about the company's ability to continue as a going concern. The company is in the discussion of re-vitalization and long term stability and growth of its Turnkey Project Business unit. In light of the management's expectation of the outcome of above discussion and revitalization, the financial statements have been prepared on a going concern basis. However in view of the above mentioned matter, we are unable to comment on the ability of the company to continue as a going concern as per SA 570. <<<Unquote

W.S. Industries (India) Ltd.

108, Mount Poonamallee Road, Porur, Chennai - 600 116. India Tel : (91) - 44 - 24354754 CIN : L29142TN1961PLC004568

Website : -wsindustries.in

' Dept E-mail : accounts@wsinsulators.com

For the above referred observation of the Auditors, the company provides the following clarifications:

As reported in our note 4 and 6 of our publication of unaudited standalone financial results for the quarter and half year ended 30'" September 2021:-

The secured lenders has informed the company of their outstanding amounts as on 30th July 2021 at the time of executing the settlement agreements arrived with them on 9th August 2021. The outstanding dues claimed by the secured lenders as on 30th July 2021 was:

• (i) % 568.04 cr., from Edelweiss Asset Reconstruction Company Limited (in its capacity as Trustee of EARC SAF 1 Trust, EARC Trust SC 168, EARC Trust SC 209),
• (ii) 124.75 cr., from IDBI Trusteeship Service Limited (as a debenture trustee on behalf of debenture holders) and
• (iii) 201.41 cr., from Allium Finance Private Limited.

The claim amounts include interest up to the said period and other charges as provided for under the respective financing documents entered into by the company.

The Company (as reported on 9" August 2021) has however arrived at a settlement with the secured lenders on 9th August 2021 for the settlement of all outstanding dues (other than the debt allocated to the Vizag Plant of Rs.47.50 Crores) for Rs.95 Crores over a specified period of time in tranches.

Further,

(i) The Company clarifies that its Project business vertical is currently functioning at a low scale because of inadequacy of funds.

However, the Company is evaluating various steps in connection with the re-vitalization and long term stability and growth of its Turnkey Project Business Unit which potential and opportunity exists once the balance sheet is restructured.

(ii) The Company is also in the process of exploring various options for effective usage of its industrial land in Chennai in compliance with various approvals and regulations based on its previous experience.

These steps are intended to set the foundation for the revival of activities of the company. Hence, the company continues to prepare its Accounts and the Statement of financial results on a 'going concern' basis of accounting.

The Auditors in their Limited Review Report on the Statement of Consolidated Unaudited Financial Results for the period ended 30" September 2021, interalia, have reported as under:

>>>Quote

Basis for Qualified Opinion

The group's net worth has been completely eroded. The accumulated losses in the reporting period, amounts to Rs. 5181.94 millions (Previous year ended 31.03.2021 Rs. 5037.22 millions). Further the Holding Company has overdue loans to various financial institutions amounting to Rs.719.13 millions and the turnover during the period ended 30th Sept, 2021 is

Rs. 6.94 millions (previous year ended 31.03.2021 Rs.15.64 millions) as per the books of accounts maintained.

In the absence of external confirmation of balance as at 30th Sept 2021 in respect of suppliers, customers, depositors, bank/financial institutions and others of the Holding Company, we are unable to comment on it.

Material Uncertainty related to 'Going Concern'

We draw attention to the following note to the financial statements:

During the period under audit, there was no production in the Chennai and Vizag plants of the Holding Company and are being considered as discontinued operations. Tumkey Project Business Segment of the Holding Company is being considered as Continuing Operations.

These factors indicates the existence of a material uncertainty in the Holding Company that may cause significant doubt about the Holding Company's ability to continue as a going concern. The Holding Company is in the discussion of re-vitalization and long term stability and growth of its Turnkey Project Business unit. In light of the management's expectation of the outcome of above discussion and re-vitalization, the financial statements have been prepared on a going concern basis. However in view of the above mentioned matter, we are unable to comment on the ability of the Holding Company to continue as a going concern as per SA 570.

<<<Unquote

For the above referred observation of the Auditors, the company provides the following clarifications:

As reported in our note 4 and 6 of our publication of unaudited consolidated financial results for the quarter and half year ended 30'"" September 2021:-

The secured lenders has informed the holding company of their outstanding amounts as on 30th July 2021 at the time of executing the settlement agreements arrived with them on 9th August 2021. The outstanding dues claimed by the secured lenders as on 30th July 2021 was:

• (i) % 568.04 cr., from Edelweiss Asset Reconstruction Company Limited (in its capacity as Trustee of EARC SAF 1 Trust, EARC Trust SC 168, EARC Trust SC 209),
• (ii) ¥ 124.75 er., from IDBI Trusteeship Service Limited (as a debenture trustee on behalf of debenture holders) and
• (iii) 201.41 cr., from Allium Finance Private Limited.

The claim amounts include interest up to the said period and other charges as provided for under the respective financing documents entered into by the holding company.

The holding company (as reported on 9'" August 2021) has however arrived at a settlement with the secured lenders on Sth August 2021 for the settlement of all outstanding dues (other than the debt allocated to the Vizag Plant of Rs.47.50 Crores) for Rs.95 Crores over a specified period of time in tranches.

Further,

(i) The holding company clarifies that its Project business vertical is currently functioning at a low scale because of inadequacy of funds.

However, the holding company is evaluating various steps in connection with the re-vitalization and long term stability and growth of its Turnkey Project Business Unit which potential and opportunity exists once the balance sheet is restructured.

(ii) The holding company is also in the process of exploring various options for effective usage of its industrial land in Chennai in compliance with various approvals and regulations based on its previous experience.

These steps are intended to set the foundation for the revival of activities of the holding company. Hence, the holding company continues to prepare its Accounts and the Statement of financial results on a 'going concern' basis of accounting.

Thanking you

Yours faithfully for W.S. INDUSTRIES (INDIA) LIMITED

S.Muraleedharan Director

Chartered Accountants

LIMITED AUDIT REVIEW REPORT

The Board of Directors W.S. Industries (India) Limited 108, Mount Poonamallee Road Porur, Chennai-600116.

We have reviewed the accompanying statement of unaudited standalone financial results of M/s. WS Industries (India) Limited for the period ended 30" Sept 2021. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.

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 financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applicd 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 as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

Basis for Qualified Opinion

The company's net worth has been completely eroded. The accumulated losses in the reporting period, amounts to Rs. 5181.30 millions (Previous year ended 31.03.2021 Rs, 5036.68 millions). Further the company has overdue loans to various financial institutions amounting to Rs.719.13 millions and the turnover during the period ended 30th Sept, 2021 is Rs. 6.94 millions (previous year ended 31.03.2021 Rs.15.64 millions) as per the books of accounts maintained.

In the absence of external confirmation of balance as at 30th Sept 2021 in respect of suppliers, customers, depositors, bank/financial institutions and others, we are unable to comment on it.

Material Uncertainty related to 'Going Concern'

We draw attention to the following note to the financial statements:

During the period under audit, there was no production in the Chennai and Vizag plants and are being considered as discontinued operations. Turkey Project Business Segment is being considered as Continuing Operations.

These factors indicates the existence of a material uncertainty that may cause significant doubt about the company's ability to continue as a going concern. The company is in the discussion of revitalization and long term stability and growth of its Turnkey Project Business unit. In light of the management's expectation of the outcome of above discussion and re-vitalization, the financial statements have been prepared on a going concern basis. However in view of the above mentioned matter, we are unable to comment on the ability of the company to continue as a going concern as per SA 570.

Old No. H-43/1, New No. H-13, 5th Street, Anna Nagar East, Chennai - 600 102. Phone : 044 - 2626 1004 E-mail : sbalacal @gmail.com, bala@sbsbca.in Web : www.sbsbca.in

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Emphasis of Matter

Impact of COVID-19:

The effects of COVID-19 pandemic on the Company's operations and compliances does not have any significant impact in the company's overall performance during the reported period.

It is not appropriate to estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the company for future periods.

The payment of dividend on Non Convertible Cumulative Redeemable Preference Shares is contingent on various factors as mentioned in the Note no.26 to the audited financial statements for the year ended 31st March 2021, which is currently uncertain and hence the amount payable has been treated as contingent liability.

Our conclusion is modified in respect of the above matter.

For M/s.8 BS B AND ASSOCIATES Chartered Accountants Firm Registration No: 012192 a

VAR Partner

Membership No. :024568

Place: Chennai Date : 12" November 2021

UDIN: 2.1562 4 SES AAHACH G23

W.S, INDUSTRIES (INDIA) LIMITED CIN: L29142TN1961PLC004568 Registered Office: 108, Mount Poonamallee Road

	W.S, INDUSTRIES LIMITED (INDIA) CIN: L29142TN1961PLC004568
Porur,	Registered Office: 108, Mount Poonamallee Road Chennai 600 116
	STATEMENT OF STANDALONE FINANCIAL RESULTS (IND AS) FOR THE QUARTER AND HALF YEAR ENDED 30th SEPT 2021
	(under Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements)	Regulations 2015)	QUARTER ENDED		HALF YEAR ENDED		12 Months
S. No.	PARTICULARS		30th SEPT 2021 30th June 2021	30th arabs SEPT		30th SEPT 2021 30th SEPT 2020	oe March 2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	[Revenue from operations
I II	Other Income III Total Revenue (I+ IT)
	IV Expenses Cost of materiale consumed
	Purchase of Stock-in-trade Changes in Inventories of Finished Goods and work in progress and stock
	in-trade Excise Duty Employee benefits expense	7.15	7.07	7.08	14,22	14.17	28.47
	Finance Costs Depreciation and amortisation expense	174,73 0.03	0.00 0.03	0.01 0.03	174.73 ™* 0.06	0.02 0.05	0.03 0.09
	Other Expenses Total expenses	(4.09) 177.82	3.01 10.11	3.17 10.29	(1.08) 187.93	7.44 21,68	629.40 657.99
	V_ Profit / (Loss) before exceptional and extraordinary items and 'tax (III - Iv)	(177.82) **	(10.11)	(10.29)	(187.93) ™*	(21.68)	(657.99)
VI VII	Exceptional items Profit / (Loss) before extraordinary items and tax (Vv - VI)	(177,82) ™	(10.11)	(10.29)	(187.93) **	(21.68)	(657.99)
	VIII Extraordinary items
IX	Profit before tax (VIT - VIIT) X = Tax Expense	(177,82) **	(20,11)	(10.29)	(187.93) **	(21.08)	(097,99)
XI	Profit / (Loss) for the period from continuing operations (IX-X)	(177.82) **	(10.11)	(10.29)	(187.93) **	(21.68)	(657.99)
XII	[Profit / (Loss) for the period from discontinued operations (LX-X) XIII Tax expense of discontinuing operationss	(1062.63) **©	(195.58)	(130.85)/	(1258.21) **@	(199.79)	(177,68)
XIV	Profit / (Loss) from discontinuing operations (after tax) (XII - XIII)	(1062.63) "©	(195.58)	(130.85)	(1258.21) **@	(199.79)	(177,68)
	XV Profit / (Loss)for the period (XI + XIV) XVI Other Comprehensive Income A (i) Items that will not be reclassified to profit or loss	(1240.45) **@	(205.69)	(141.14)	(1440.14) ""@	(221.47)	(635.67)
	(ii) Income Tax relating to items that will nat be reclassified to profit or loss
	B (i) Items that will be reclassified to profit or loss (ii) Income Tax relating to items that will be reclassified to profit or loss
	Total other comprehensive income, net of Income Tax
XVII Total	comprehensive period(XV+XVI) income (comprising! for the Prafit/(Loss) and other comprehensive income for The period) XVIII Paid - up equity share capital (Face Value - 10/- per share)	(1240.45) "© 2626.06	(205.69) 2626.06	(144.14) 2626.06	(1446.14) "© 2626.06	(221.47) 2626.06	(835.67)
XIX yor	[Paid - up Debt Capital [Reserves excluding Revaluation reserves as per Balance Sheet of previous	200,00	200,00	200.00	200.00	200.00	2626.06 200.00
	accounting year X07. Debenture Redemption Reserve	-	-	"	-	-	(14845.50) =
	XXII Earnings per equity share (for continuing operations) 1) Basic 2) Diluted	(0.77) (0.77)	(0.14) (0,14)	0.16 0.16	(0.91) (0.91)	(0. 28) (0.28)	(2.90) (2.90)
	XXIII Earnings per equity share (for discontinued operations) 1) Basic	(4.05)	(0.74)	(0.50)	(4.79)	(0.76)	(0.68)
	2) Diluted XXIV Earnings per equity share (for discontinued and continuing operations)	(4.05)	(0.74)	(0.50)	(4.79)	(0.76)	(0.68)
XXV	1) Basic 2) Diluted [Debt Equity Ratio		(0.88) (0.88) (0.02)	(0.34) (0.34) (0.03)	(5.70) (5.70) (0.02)	(1.04): (1.04) (0.03)	(3.58) (3.58) (0.02)
	XXVI Debt Service Coverage Ratio XXVIT Interest Service Coverage Ratio		~~ -	~~ Or	- a]	- ord	Saad -

Pn |

• The obove unaudited results were reviewed by the Audit Committee, approved and taken on record by the Board at its meeting held on 2th Nov. 2021, in terms of Regulation 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.
• The Company is adopting Indian Accounting Standards (Ind AS) and the unaudited financial results for the Quarter and Half year ended 30th Sept 2021 are prepared in accordance with the! recognition and measurement principles laid down in Ind AS prescribed under Section 133 of the companies Act, 2013 read with relevont Rules issued thereunder and in terms of SEBI circular! no.CIR/CFD/FAC/62/2016 dated 5th July 2016.
• The status of production and related activities remains unchanged during the quarter under review.
• **No Interest has been provided in the books of account for the quarter ended 30th Sept 2021 on the financial facilities availed from the banks/financial institutions. The company has however! arrived at a settlement with the secured lenders on 9th August 2021 for the settlement of all outstanding dues (other than the debt allocated to the Vizag Plant of Rs.47_50 Crores) for Re.95) Crores over a specified period of time in tranches. The expenditure will be suitably dealt with in the books of account as and when it is paid.
• The status of Chennai Insulator division and Visakhapatnam Insulator division as "Discontinued Operations" and Turnkey Project Business Segment as "Continuing Operations" remains unchanged during the quarter under review. Accordingly od justments are shown separately in the statement of profit and loss under Ind AS 105.
• The secured lenders has informed the company of their outstanding amounts as on 30th July 2021 at the time of executing the settlemert agreements arrived with them on 9th August 2021. The eutstanding dues claimed by the secured lenders as on 30th July 2021 was:

(i) % 568.04 cr., from Edelweiss Asset Reconstruction Company Limited (in its capacity as Trustee of EARC SAF | Trust, EARC Trust SC 168, EARC Trust 5C 209),

(il) © 124.75 cr., from IDBI Trusteeship Service Limited (as a debenture trustee on behalf of debenture holders) and

(iii) ¥ 201.41 cr., from Allium Finance Private Limited.

The claim amourrts include interest up to the said period and other charges as provided for under the respective financing documents entered into by the company.

• @ As required under Ind AS 36 Impairment amounting to = 4597.53 Lakhs has been provided for the Quarter ended 30th Sept 2021 in the books of Vizag Insulator Division (considered as' discontinued) with reference to Land on unexpired Lease period (as on 30th Sept. 2021), Buildings on Card Rate and other fixed assets on the respective WDV basis. The provision made in the} earlier Quarter ended 30th June 2021 amounting to = 4596.90 Lakhs stands reversed.
• The Company has considered Electro-porcelain products and Turnkey Projects business segment as the primary segment for disclosure.
• The Company clarifies that its Project business vertical is currently functioning at a low scale because of inadequacy of funds. However, the Company is evaluating various steps in connection with the re-vitalization and long term stability and growth of its Turnkey Project Business Unit which potential and opportunity! exists once the balance sheet is restructured,

The Company is also in the process of exploring various options for effective usage of its industrial land in Chennai in compliance with various approvals and regulations based on its previous) experience.

These steps ore intended to set the foundation for the revival of activities of the company. Hence, the company continues to prepare its Accounts and the Statement of financial results on ai 'going concern! basis of accounting.

• There was no restriction on the functioning of the company specifically due to Covid-19.
• ll Figures have been regrouped/reclassified wherever necessary, to conform to this period's classifications and as per amended schedule iii to the Companies Act,2013 vide Notification dated 24th March 2021.

12th Nov.2021

for W.S.1 ES (INDIA) LIMITED

Chennai onw* MI DIRECTOR :

421929) CAD. Sharath Kumar Pariner M.No. ⁰²⁴⁵⁶⁸

W.S. INDUSTRIES (INDIA) LIMITED

Standalone Segmentwise Revenue, Results and Capital employed for the quarter and half year ended 30th Sept 2021 under Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

	W.S. INDUSTRIES	LIMITED (INDIA)
Porur,	CIN: L2otazTNt96iR.coodsbe Chennai	Registered Office: 108, Mount Poonamallee Road 600 116
		Standalone Segmentwise Revenue, Results and Capital employed for the quarter and half year ended 30th Sept 2021 under Regulation 52 of the SEBI (Listing Obligations and Disclosure
Requirements)		Regulations, 2015		QUARTER ENDED		HALF YEAR ENDED		12 Months
S.No.		PARTICULARS		30th SEPT 2021 30th June 2021	30th SEPT 2036	Oth SEPT 2021 30th SEPT 2020		ended 3ist March 2021
1	Segment Revenue		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Total	9) Electro-porcelain peaducte b) Turnkey Projects
		Less: Inter Segment Revenue Net Sales/Income from Operations
2	Segment Results	Profit(+)/Lose(-) before Tax and Interest from each segment		(170.67)	(118.10)	(317.68) ©	(176.37)	(144.01)
	Total	a) Electro-porcelain products b) Turnkey Projects	(147.01) @ (3.09) (150.10)	(10.11) (160.78)	(10.28) (128. 38)	(13.20) (330.88)	(21.66) (198.03)	(657.96) (801.97)
	Less: Interest Total Earnings before Tax		1090.35 (1240.45) @	24,91 (205.69)	12.76 (141.14))	1115.26 ™ (1446.14) @*	23.44 (221.47)	33.70 (835.67)
	Segment Assets		6115.01	6115.14	6165.31	6115.01	6165.31	6093.91
	c) Unallocated	a) Electro-porcelain products b) Turnkey Projects	2.01 1181.91	2.04 1184.53	622,21 747,58	2,01 1181.91	622.21 747.58	2.07 1170.94
	Total		7298.93	7301.71	7535.10	7298.93	7535.10	7266,92
	Segment Liabilities	a) Electro-porcelain products b) Turnkey Projects	2920.87 4.92	2946.68 34.92	2812.55 33.63	2920.87 34.92	2812.55 33.63	2927.29 34.92
	c) Unallocated Total		13851,82 16807.61	12588.34 15569,94	12137.27 14983.44	13851.82 16807.61	12137,27 14983,44	12367.24 15329.45
1		The above unaudited results were reviewed by the Audit Committee, approved and taken on record by the Board at its meeting held on 12th Nov. 2021, in terms of Requiation 52 of SEBI) (Listing Obligations and Disclosure Requirements) Requlation, 2015.
		2 The Company is adopting Indian Accounting Standards (Ind AS) and the unaudited financial results for the Quarter and Half year ended 30th Sept 2021 ore prepared in accordance with the! recognition and measurement principles laid down in Ind AS prescribed under Section 133 of the companies Act, 2013 read with relevant Rules issued thereunder and in terms of SEBI circular
3		no,CIR/CFD/FAC/62/2016 dated Sth July 2016. The status of production and related activities remains unchanged during the quarter under review.
4		"*No Interest has been provided in the books of account far the quarter ended 30th Sept 2021 on the financial facilities availed from the banks/financial institutions. The company has however orrived at a settlement with the secured lenders on 9th August 2021 for the settlement of all outstanding dues (other than the debt allocated to the Vizag Plant of Rs.47.50 Crores) for Rs.95) Crores over a specified period of time in tranches. The expenditure will be suitably dealt with in the books of account as and when it Is paid.
5		The status of Chennai Insulator division and Visakhapatnam Insulator division as "Discontinued Operations" and Turnkey Project Business Segment as "Continuing Operations" remains unchanged) during the quarter under review. Accordingly adjustments are shown separately in the statement of profit and loss under Ind AS 105.
6		The secured lenders has informed the company of their outstanding amounts as on 30th July 2021 at the time of executing the settlement agreements arrived with them on 9th August 2021. The: outstanding dues claimed by the secured lenders as on 30th July 2021 was:
		(i) % 568.04 cr., from Edelweiss Asset Reconstruction Company Limited (in its capacity as Trustee of EARC SAF Trust, EARC Trust SC 168, EARC Trust SC 209),
		(i) = 124.75 cr., from IDBI Trusteeship Service Limited (as a debenture trustee on behalf of debenture holders) and (iii) % 201.41 cr., from Allium Finance Private Limited. The claim amounts include interest up to the said period and other charges as provided for under the respective financing documents entered into by the company.
7		@ As required under Ind AS 36 Impairment amounting to < 4597.53 Lakhs has been provided for the Quarter ended 30th Sept 202] in the books of Vizag Insulator Division (considered as discontinued) with reference to Land on unexpired Lease period (as on 30th Sept. 2021), Buildings on Card Rate and other fixed assets on the respective WDV basis, The provision made in the
8		eorlier Quarter ended 30th June 2021 amounting to % 4596.90 Lakhs stands reversed. The Company has considered Electro-porcelain products and Turnkey Projects business segment ax the primary segment for disclosure.
9		The Company clarifies that its Project business vertical is currently functioning at a low scale because of inadequacy of funds. However, the Company is evaluating various steps in connection with the re-vitalization and long term stability and growth of its Turnkey Project Business Unit which potential and opportunity exists once the balance sheet is restructured,
		The Company is also in the process of exploring various options for effective usage of its industrial land in Chennai in compliance with various approvals and regulations based on its previous
	experience.	These steps are intended to set the foundation for the revival of activities of the company. Hence, the company continues to prepare its Accounts and the Statement of financial results on al 'going concern' basis of accounting.
10		There was no restriction on the functioning of the company specifically due to Cavid-19,
	March 2021.	Figures have been regrouped/reclassified wherever necessary, to conform to this period's classifications and as per amended schedule \i to the Companies Act,2013 vide Notification dated 24th)

1

		-2-
12	Breakup of Segment Results for Continuing and Discontinued Operations		QUARTER ENDED		HALF YEAR ENDED		12 Month
		30th SEPT 2021 30th June 2021		30th SEPT 2020	30th SEPT 2021 30th SEPT 2020		ended 31st March 2021
	Profit(+)/Loss(-) before Tax and Interest from each segment from	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	'continuing operations a) Electro-porcelain products s _— before eee Pe So	(3.09)	(10.11)	(10.28)	(13.20)	(21.66)	(657.96)
2.	Tax and Interest from each segment Profit(+ -) discontinued operations - Electro-porcelain Products	(147,01) e	(170.67)	(118.10)	(317.68) ©	(176. 37)	(144.01)
3	Total Less: Interest (i) +(ii) as below	(150.10) 1090.35 **	_ (180.78) 24.91	(128, 38) 12.76	(330,88) 1115.26 ™*	(198.03) 23.44	(801.97)
	(i) from continuing operations
	a) Electro-porcelain products b) Turnkey Projects	174,73	0.00	0,01	174,73	0.02	33.70 0.03
	(ii) from discontinued operations -Electro-Porcelain (iii) from Continuing and discontinued operations	915.62 1090.35	24,91 24.91	12,75 12.76	940.53 1115.26	23,42 23.44	33.67 33.70
	4 = Total Earnings before Tax (i) from continuing operations (ii) from discontinued operations (ili) from Continuing and discontinued operations	(177.82) (1062.63) ""@ (1240.45) "@	(10.11) (195.58) (205.69)	(10,29) (150.85) (141.14)	(187.93) " (1208.21) "e (1446.14) "*@	(21.68) (199.79) (221.47)	(657.99) (177.68) (835.67)
	in 2th Nov.2021				{Uf for W. S. INDUSTRIES ( INDIA) LIMITED DIRECTOR T	hares

For SB S oyntants Char \ Partner M.No 024568 cA.D Sharath Kumat

W.S. INDUSTRIES (INDIA) LIMITED CIN: L29142TN1961PLC004568

Porur,	CIN: L29142TN1961PLC004568 Registered Office: 108, Mount Poonamallee Road, Chennai 600 116
	Statement of Standalone Assets and Liabilities [under Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015]
	Particulars	As at 30 09 2021 Unaudited	STANDALONE	As at 3103 2021
A 1. (a) (b) (c)	ASSETS Non-Current Assets : Property, Plant and Equipment Financial Assets : Investments Other Non- Current Assets	2.01 12.00 9.65		Audited 2.07 12.00 9.33
2. (a) (b) (c)	Total Non -Current Assets Current Assets : {Financial Assets : i. Trade Receivables ij. Cash and Cash Equivalents Current Tax Assets (Net) Other Current Assets	14.84 11.32 0.21 1148.74	23.66	15.75 18.39 0.23 1130.48	23.90
3.	Total Current Assets Non Current Assets held		1175.11 6100.17		1164.85 6078.16
1. (a) (b)	TOTAL ASSETS EQUITY AND LIABLITIES Equity: Equity Share Capital Other Equity	2626.06 (13409.74)	7298.94	2626.06 (11963.60)	7266.91
2.	Total Equity Non Current Liabilities : Financial Liabilities		(10783.68)		(9337.54)
	Prefefence Share Capital Total Non Current Liabilities Current Liabilities ;		1275.00 1275.00		1275.00 1275.00
2. (a) (b)	Financial Liabilities i. Borrowings ii. Trade Payables iii, Other financial liabilities Provisions	13117.22 2955.79 49.76 4.34		11494.76 2962.21 43.44 4.34
(c)	Other current liabilities	680.51		824.70
	Total Current Liabilities		16807.62		15329.45
	TOTAL EQUITY AND LIABILITIES

W.S. INDUSTRIES (INDIA) LIMITED

CIN: L29142TN1961PLC004568

Regd. Office: 108, Mount Poonamallee Road, Porur, Chennai-600116 STATEMENT OF STANDALONE CASH FLOW FOR THE PERIOD ENDED 30th SEPT 2021

	(INDIA) INDUSTRIES W.S.	LIMITED
	CIN: L29142TN1961PLC004568
	Regd. Office: 108, Mount Poonamallee Road, Porur, Chennai-600116
	STATEMENT OF STANDALONE CASH FLOW FOR THE PERIOD ENDED (under Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015)		30th SEPT 2021
		Unaudited	Unaudited
	PARTICULARS	30-Sep-21	30-Sep-20
A OPERATING ACTIVITIES:	Profit/(loss) before tax from continuing operations	(187.93)	(21.68)
	Profit/(loss) before tax from discontinued operations	(1258.21)	(199.79) (221.47)
	Profit/(loss) before tax	(1446.14)
	Adjustments to reconcile profit before tax to net cash flows: Depreciation and impairment of property, plant and equipment	0.06	0.05
	Finance costs (including fair value change in financial instruments)	174.73 (21.40)	0,02 (29.14)
	Non Current Asset held - Impairment/Discarded Provision for Doubtful Debts	(7.23)
	Working capital adjustments:
	(Increase)/Decrease in trade and other receivables and prepayments Increase/(Decrease) in trade and other payables	8.14 (6.41)	0.67 (123.18)
	(Increase)/Decrease in other Assets	(18.05)	322.01
	Liabilities and Provisions increase/(Decrease) in Net cash flows from operating activities	(144.20) (1460.50)	(40.92) (91.96)
	B INVESTING ACTIVITIES:
	Purchase of property, plant and equipment	(0.61)	(487.50)
	Acquisition/Investment in subsidiary Net cash flows used in investing activities	(0.61)	(1.00) (488.50)
	FINANCING ACTIVITIES:
C Interest and Others		(174.73)	(0.02)
	Increase / (Decrease) in borrowings & other financial liabilities Net cash flows from/(used in) financing activities	1628.77 1454.04	578.49 578.47
	Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period	(7.07) 18.39	(1.99) 22.16
Cash and	cash equivalents at the end of the period	11.32	20.17
Notes on 1 and Liabilities. 2	Statement of Cash Flow: Above statement has been prepared following the Indirect method except in case of Interest received /Paid. Dividend Received/Paid , Purchase/ Sale of Investments, loans taken and repaid been considered on the basis of actual movement of cash with necessary adjustments in Purchase of Fixed Assets are stated inclusive of movements of Capital Work-in-Progress between beginning and end of the period.		and Taxes Paid , which have corresponding assets
3	Cash and cash equivalents Cash and Bank Balances	11.32	20.17
	Unrealised (Gain) / Loss
	Cash and Bank Balances restated as above	car WS INDUSTRIES (INDIA) LIM eet	"o
Laat	a ASSOciNTES ny 012 H121928 g mano (FAN: )	ie oa: fu
Date	hs : 12th NovembE? 9624 rtered ia ae	Director	eet,

MNO.

Partner ⁰²⁴⁵⁶⁸

S B S B AND ASSOCIATES Cx Chartered Accountants

LIMITED AUDIT REVIEW REPORT

The Board of Directors W.S Industries (India) Limited 108, Mount Poonamallee Road Porur, Chennai-600116.

We have reviewed the accompanying Statement of unaudited consolidated financial results of M/s WS Industries (India) Limited ("the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), and its share of the net profit/(loss) after tax and total comprehensive income / loss of its subsidiaries for the period ended 30th Sept 2021 ("the Statement"), being submitted by the Holding Company pursuant to the requirement of Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This 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 Statement based on our review.

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 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 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

The Statement includes the results of the following entities:

Holding Company

W.S.Industries (India) Limited

Subsidiary Companies

• It Vidagara Tech Park Private Limited
• 1. WS Insulators Private Limited

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 Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it ts to be disclosed, or that it contains any material misstatement.

Old No. H-43/1, New No. H-13, 5th Street, Anna Nagar East, Chennai - 600 102. Phone : 044 - 2626 1004 E-mail : sbalacal @gmail.com, bala@sbsbca.in Web : www.sbsbca.in

Basis for Qualified Opinion

The group's net worth has been completely eroded. The accumulated losses in the reporting period, amounts to Rs. 5181.94 millions (Previous year ended 31.03.2021 Rs. 5037.22 millions). Further the Holding Company has overdue loans to various financial institutions amounting to Rs.719.13 millions and the turnover during the period ended 30th Sept, 2021 is Rs. 6.94 millions (previous year ended 31.03.2021 Rs.15.64 millions) as per the books of accounts maintained.

In the absence of external confirmation of balance as at 30th Sept 2021 in respect of suppliers, customers, depositors, bank/financial institutions and others of the Holding Company, we are unable to comment on it.

Material Uncertainty related to 'Going Concern'

We draw attention to the following note to the financial statements:

During the period under audit, there was no production in the Chennai and Vizag plants of the Holding Company and are being considered as discontinued operations. Turnkey Project Business Segment of the Holding Company is being considered as Continuing Operations.

These factors indicates the existence of a material uncertainty in the Holding Company that may cause significant doubt about the Holding Company's ability to continue as a going concern. The Holding Company is in the discussion of re-vitalization and long term stability and growth of its Tumkey Project Business unit. In light of the management's expectation of the outcome of above discussion and re-vitalization, the financial statements have been prepared on a going concern basis. However in view of the above mentioned matter, we are unable to comment on the ability of the Holding Company to continue as a going concern as per SA 570.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Emphasis of Matter Impact of COVID-19:

The effects of COVID-19 pandemic on the group's operations and compliances does not have any significant impact in the group's overall performance during the reported period.

It is not appropriate to estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the group for future periods.

The payment of dividend on Non Convertible Cumulative Redeemable Preference Shares of the Holding Company is contingent on various factors as mentioned in the Note no.26 to the audited financial statements of the Holding Company for the year ended 31st March 2021, which is currently uncertain and hence the amount payable has been treated as contingent liability.

Our conclusion is modified in respect of the above matter.

For M/s. 8 BS B AND ASSOCIATES Chartered Accountants Firm Registration No: 0121928

\ D.Sharath Kumar

Place: Chennai Date : 12""° November 2021

Partner Membership No. :024568 UDIN: 32102 486% AAAA]] 2925

W.S. INDUSTRIES (INDIA) LIMITED

CIN: L29142TN1961PLC004568 Registered Office: 108, Mount Poonamallee Road

STATEMENT OF CONSOLIDATED FINANCIAL RESULTS (IND AS) FOR THE QUARTER AND HALF YEAR ENDED 30th SEPT ²⁰²¹ (under Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015)

	W.S. INDUSTRIES LIMITED (INDIA) CIN: L29142TN1961PLC004568 Registered Office: 108, Mount Poonamallee Road
Porur,	Chennai 600 116 STATEMENT OF CONSOLIDATED FINANCIAL RESULTS (IND AS) FOR THE QUARTER AND HALF YEAR ENDED 30th SEPT 2021
	(under Regulation 52 of the SEBI (Listing Obligations and Disclosure	Requirements) Regulations 2015)
S.No.	PARTICULARS	30th SEPT 2021 500"	QUARTER ENDED ne	sok ce,	HALF YEAR ENDED 30th SEPT 2021 30th SEPT 2020		12 Months ended Jist March 2021
		Unaudited	Unaudited	Unaudited	Vnaudited	Unaudited	Audited
I	[Revenue from operations
II	Other Income III Total Revenue (1+ II)
	IV Expenses Cost of materials consumed Purchase of Stock-in-trade Changes in Inventories of Finished Goods and work in progress and stock-in-trade
	Excise Duty Employee benefits expense Finance Costs	7.15 174.74 **	7.07 0.00	7.08 0.01	14.22 174.74 ™*	14,17 0.02	28.47 0.03
	Depreciation and amortisation expense Other Expenses	0,03 (3.61)	90.03 3.53	0,03 3.72	0.06 (0.08)	0,05 8.45	0.09 631.55
	Total expenses Profit / (Loss) before exceptional and	178.31	10.63	10.84	188,94	22.69	660.14
	¥___ extraordinary items and tex (III - IV)	(178,31) **	(10.63)	(10.84)	(188.94) ™*	(22.69)	(660.14)
VIZ	VI Exceptional items Profit / (Loss) before extraordinary items and tax (V - lyz)	(178.31) **	(10.63)	(10.84)	(188.94) **	(22.69)	(660.14)
	VIII Extraordinary 'tems
IX X =	Profit before tax (VII - VIII) Tax Expense	(178.31) **	(10.63)	(10.84)	(188.94) **	(22.69)	(660.14)
	Profit / (Loss) for the period from continuing operations x (TX-x)
	Profit / (Loss) for the period from discontinued	(178.31) ™ (1062.63) *@	(10.63)	(10.84)	(188.94) (1258.21) ©	(22.69)	(660.14)
XII	operations (IX-X) XIII Tex expense of discontinuing operationss		(195.58)	(130.85)}		(199,79)	(177,69)
	Profit / (Loss) from discontinuing operations (after tax) XIV (XII - XIII)	(1062.63)	(195.58)	(130.85))	(1258.21)	(199.79)	(177.69)
XVI	XV Profit / (Loss)for the period (XI + XIV) Other Comprehensive Income	(1240.94) *@	(206.21)	(141.69)	(1447.15) *@	(222,48)	(837.83)
	A (1) Items that will not be reclassified to profit or loss (ii) Income Tax relating to items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income Tax relating to items that will be reclassified to profit or loss
	Total other comprehensive income, net of Income Tax
	Total comprehensive income for the period(XV+XVI) XVII (comprising Profit/(Loss) and other comprehensive! income for the period)	(1240.94) "©	(206,21)	(141.69)	(1447.15) *"©	(222.48)	(837.83)
	Paid - up equity share capital (Face Value - % 10/- per XVIII share)	2626.06	2626.06	2626.06	2626,06	2626.06	2626,06
xx	XIX Paid - up Debt Capital Reserves excluding Revaluation reserves as per Balance Sheet of previous accountina vear	200.00	200,00 z	200.00	200.00	200.00	200,00 (14850.89)
	XXI_ Debenture Redemption Reserve XXII Earnings per equity share (for continuing operations)	'		z			a
	1) Basic 2) Diluted OMTIT Earnings per equity share (for discontinued operations)	(0.78) (0.78)	(0.14) (0.14)	0.15 0.15	(0.92) (0.92)	(0,29) (0.29)	(2.91) (2.91)
soav	1) Basic 2) Diluted Earnings per equity share (for discontinued and	(4.08) (4.05)	(0.74) (0.74)	(0.50) (0.50)	(4.79) (4.79)	(0.76) (0.76)	(0.68) (0.68)
	continuing operations) 1) Basic 2) Diluted XXV Debt Equity Ratio			(0.35) (oO. (0.03)	(6.71) @.71) (0.02)	(1.05) (1.05) (0.03)	(3.59) (3.59) (0.02)
	MAVI Debt Service Coverage Ratio XXVIT Interest Service Coverage Ratio			= -	= w	- -™	- ws

• The above unaudited results were reviewed by the Audit Committee, approved and taken on record by the Board at its meeting held on {2th Nov. 2021, in terms of Regulation 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015,
• The Group is adopting Indian Accounting Standarde (Ind AS) and the financial results for the quarter and half year ended 30th Sept, 2021 are prepared in accordance with the recognition and measurement principles laid down in Ind AS prescribed under Section 133 of the companies Act, 2013 read with relevant Rules issued thereunder and In terms|
• of SEBI circular no.CIR/CPD/FAC/62/2016 dated 5th July 2016, The status of production and related activities of the Holding Company remains unchanged during the quarter under review,
• **No Interest has been provided in the books of account of the Holding Company for the quarter ended 30th Sept 2021 on the financial facilities availed from the banks/ financial institutions, The Holding Company has however arrived ot o settlement with the secured lenders on #th August 2021 for the settlement ofall outwtanding dues| (other than the debt allocated to the Vizag Plant of Rs.47.50 Crores) for Rs.95 Crores over a specified period of time in tranches. The expenditure will be suitably dealt with in) the books of account of the Holdina Company as and when it is paid.
• The status of Holding Company's Chennai Insulator division and Visakhapatnam Insulator division as "Discontinued Operations" and Turnkey Project Business Segment as) "Continuing Operations" remains unchanged during the quarter under review. Accordingly adjustments are shown separately in the statement of profit and loss under Ind AS 105. The secured lenders of the Holding Company has informed the company of their outstanding amounts as on 30th July 2021 at the time of executing the settlement agreements arrived with them on 9th August 2021, The outstanding dues claimed by the secured lenders as on 30th July 2021 was:

() © 56804 cr., from Edelweiss Asset Reconstruction Company Limited (in its capacity as Trustee of EARC SAF 1 Trust, EARC Trust SC 198, EARC Trust SC 209),

(i) © 124.75 cr., from IDBI Trusteeship Service Limited (as a debenture trustee on behalf of debenture holders) and

(ii) § 201,41 cr., from Allium Finance Private Limited.

The claim amounts include interest up to the said period and other charges as provided for under the respective financing documents entered into by the Holding Company, © As required under Ind AS 36 Impairment amounting to ¥ 4597.53 Lakhs hos been provided for the Quarter ended 30th Sept 2021 in the books of Vizag Insulator Division! (considered as discontinued) of the Holding Company with reference to Land on unexpired Lease period (as on 30th Sept. 2021), Buildings on Card Rate and cther fixed assets on the respective WDVbasi The provician made in the earlier Quarter ended 30th Tune 202! amounting to * 4596.90 Lakhs stands reversed.

The Holding Company clarifies that its Project business vertical is currently functioning at a low scale because of inadequacy of funds.

• However, the Holding Company is evaluating various steps in connection with the re-vitalization and long term stability and growth of its Turnkey Project Business Unit which, potential and opportunity exists once the balance sheet is restructured.
• The Halding Company is also in the process of exploring various options for effective usage of its industrial land in Chennai in compliance with various approvals and regulations based on its previous experience.

These steps are intended to set the foundation for the revival of activities of the Holding Company. Hence, the Holding Company continues to prepare ite Accounts and the) Statement of financial results ona 'going concern' basis of accounting.

• The Consolidated financial statements relate to W.S, Industries (India) Limited (the Parent Company), and its Subsidiary Companies. The Parent Company with its subsidiaries conatihite the Group
• The Subsidiary Comp < ed iin the lidated financial are Vidagara Tech Park Private Limited and WS Insulutors Private Limited, whose country of incorporation arein India and the percentage of voting power by W.S, Industries (India) limited as on 30th Sept 202! is 100% and 100% respectively,
• The Group is not required to provide Segment Reporting under the criteria specified in IND AS 108.
• i2 There was no restriction on the functioning of the Holding Company and its subsidiaries specifically due to Covid-19,
• ul 13 Figures have been regrouped/reciassified wherever necessary, To conform To this period's classifications and as per amended schedule |i to the Companies Act,2012 vide Notification dated 24th March 2021.

for W.S.INDUSTRIES (INDIA) LIMITED oa Wh horone Licy - 12th Nov. 2021 ¥: 9421928) DIRECTOR 7

W S INDUSTRIES (INDIA) LIMITED CIN: L29142TN1961PLC004568

INDUSTRIES LIMITED (INDIA) CIN: L29142TN1961PLC004568 Registered Office: 108, Mount Poonamallee Road, Chennai 600 116 Statement of Consolidated Assets and Liabilities
{under Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015)
Non-Current Assets :
	2.01		2.07
Investments
Other Non- Current Assets	9.65		9.83
				11.90
Current Assets :
Financial Assets :
. Trade Receivables	14.84		15.75
Other Current Assets	1149.59		1131.33
				1171.90
Non Current Assets held		6100.17		6078.16
				7261.96
Equity Share Capital	2626.06		2626.06
Other Equity	(13416.13)		(11968.98)
				(9342.92)
Prefefence Share Capital		1275.00		1275.00
				1275.00
Current Liabilities :
ii. Trade Payables	2955.79
iii. Other financial liabilities	49.76		43.44
Total Current Liabilities		16807.78		15329.38
				7261.96
	Particulars ASSETS Property, Plant and Equipment Other Intangible Assets Financial Assets : Total Non -Current Assets ii. Cash and Cash Equivalents Current Tax Assets (Net) Total Current Assets TOTAL ASSETS EQUITY AND LIABLITIES Equity: Non controlling Interest Total Equity Non Current Liabilities : Financial Liabilities Total Non Current Liabilities Financial Liabilities i. Borrowings Provisions Other current liabilities TOTAL EQUITY AND LIABILITIES	16.24 0.21 13117.22 4.34 680.67	As at 30 09 2021 Unaudited 11.66 1180.88 7292.71 (10790.07) 1275.00 7292.71	CONSOLIDATED As at 3103 2021 Audited 24.59 0.23 11494.76 2962.21 4.34 825.13

satin 074568

W.S. INDUSTRIES (INDIA) LIMITED CIN: L29142TN1961PLC004568

Regd Office: 108, Mount Poonamallee Road, Porur, Chennai-600116

STATEMENT OF CONSOLIDATED CASH FLOW FOR THE PERIOD ENDED 30TH SEPT. ²⁰²¹

LIMITED (INDIA) INDUSTRIES W.S.	CIN: L29142TN1961PLC004568
Regd Office: 108, Mount Poonamallee Road, Porur, Chennai-600116	SEPT. 2021
STATEMENT OF CONSOLIDATED CASH FLOW FOR THE PERIOD ENDED (under Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015)	30TH
	Unaudited	Unaudited
PARTICULARS	30-Sep-21	30-Sep-20
A OPERATING ACTIVITIES: Profit before tax from continuing operations
	(188.94)	(22.69)
Profit/(loss) before tax from discontinued operations	(1258.21)	(199.79)
Profit before tax	(1447.15)	(222.48)
Adjustments to reconcile profit before tax to net cash flows:
Depreciation and impairment of property, plant and equipment	0.06	0.05 0.02
Finance costs (including fair value change in financial instruments)	174.74 (21.40)	(29.14)
Non Current Asset held - Impairment/Discarded Provision for Doubtful Debts	(7.23)
Working capital adjustments: (Increase)/Decrease in trade and other receivables and prepayments	8.14	0.67
Increase/(Decrease) in trade and other payables	(6.41) (18.05)	(123.18) 322.11
(Increase)/Decrease in other Current Assets Liabilities and Provisions Increase/(Decrease) in	(144.46)	(41.23)
Net cash flows from operating activities	(1461.77)	(93.18)
B INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(0.61)	(487.50)
Net cash flows used in investing activities	(0.61)	(487.50)
FINANCING ACTIVITIES: C
Interest and Others	(174.74)	(0.02)
increase / (Decrease) in borrowings & other financial liabilities Net cash flows from/(used in) financing activities	1628.77 1454.03	578.49 578.47
Net increase in cash and cash equivalents	(8.35)	(2.21)
Net foreign exchange difference
Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period	24.59 16.24	28.11 25.90

1 Above statement has been prepared following the Indirect method except in case of Interest received /Paid. Dividend Received/Paid , Purchase/ Sale of Investments, loans taken and repaid and Taxes Paid , which have been considered on the basis of actual movement of cash with necessary adjustments in corresponding assets and Liabilities.

2 Purchase of Fixed Assets are stated inclusive of movements of Capital Work-in-Progress between beginning and end of the period.

3 Cash and cash equivalents Cash and Bank Balances 16.24 25,90 Unrealised (Gain) / Loss Cash and Bank Balances restated as above 16.24 25.90

Place : Chennai Date : 12th November 2021 Ly eerown + Director

For WS INDUSTRIES (INDIA) LIMITED

J : ASSOCIATES (re. Q\2\ pen sek : od Ac tants f

. PAYS . Mi er 924568 .