AI assistant
Amines & Plasticizers Ltd Earnings Release 2021
60862_rns_2021-06-07_900539cf-2e8b-4761-902c-6ae3c64d2a87.pdf
Earnings Release
Open in viewerOpens in your device viewer
(ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 CERTIFIED COMPANy)
Date: June 07, 2021
To, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001.
Dear Sirs,
Sub: Intimation about outcome of the Board Meeting held today i.e on 07.06.2021 Security Code: 506248.
This is to inform you that the Board of Directors ofthe Company at its meeting held today i.e. on 07th June, 2021, has inter alia approved:
- i. Audited Financial Results (Standalone and Consolidated) of the Company for the 4th Quarter and Year ended 31st March, 2021 along with the Statement of Assets and Liabilities as on that date.
- ii. Recommendation ofDividend @ 20 % i.e Rs. 0.40/- per Equity Share of Rs. 2/ each.
-
- Investing in a Company (26% Equity upto Rs. One Crore) involved in production of Solar energy and to enter into a Power Purchase Agreement with them to procure power at discounted rate.
Enclosed please find copies of:2
- i. Approved Audited Financial Results for the 4th Quarter and Year ended 31st March, 2021,
- ii. Auditors Report of Mis B D G & Associates, Chartered Accountants, Statutory Auditors on the said Audited Financial Results,
- iii. Declaration regarding Auditors Report with unmodified opinion pursuant to Regulation 33(3)(d) ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Board Meeting commenced at 4.00 pm and concluded at 5.55 pm today.
Thanking you, Yours sincerely, or AMINES & PLASTICIZ,~S5§iifjm:D End: As above
Independent Auditor's Report on Quarterly and Year to Date Audited Standalone Financial Results of Amines & Plasticizers Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (as amended)
To the Board of Directors Amines & Plasticizers Limited
Report on the audit of the Standalone Financial Results
Opinion
We have audited the accompanying Statement of quarterly and year to date Standalone Financial Results of Amines & Plasticizers Limited ('the Company') for the year ended March 31, 2021 and the notes thereon (hereinafter referred to as the "Financial Results") attached herewith, being compiled by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us these standalone financial results:
- are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India of the net profit for the year ended March 31, 2021 and other comprehensive income and other financial information for the year ended on that date.
Basis for Opinion
"Omkar"Behind Guru Nanak Petrol Pump, E-Mail: [email protected] Mumbai – 400 093 www.bdgandassociates.com Mumbai | Delhi | Kota We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the CompaniesAct, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditors' Responsibilities for the Audit of the Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on standalone annual financial results.
910, 9th Floor,The Summit Business Bay – Phone : +91-22-26813100 Off. Andheri Kurla Road, Andheri (E),
Management's Responsibilities for the Standalone Financial Annual Results
These financial results have been prepared on the basis of the standalone financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit / loss for the year ended March 31, 2021 and other comprehensive income and other financial information of the company in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditors' Responsibilities for the Audit of the Standalone Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
- Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company to express an opinion on the Standalone Financial Results.
Materiality is the magnitude of misstatements in the Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Results.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters
The Standalone Financial Results include the results for the quarter ended March 31, 2021 being the balancing figures between audited figures in respect of the full financial year and the unaudited year to date figures up to the third quarter of the current financial yearwhich were subject to limited review by us.
For B D G & Associates Chartered Accountants Firm Registration No.: 119739W
Nikhil Rathod Partner Membership No: 161220 Place: Mumbai Date: June 7, 2021 UDIN: 21161220AAAACB3342
Reg. Office Add: Poal Enclave, C/o. Pranati Builders Pvt. ltd., Principal J.B.Road, Chenlkuthi, Guwahati - 781 003, Assam Tel.: 022-24935282 Fax: 022 24938162
Corp. Office Add: '0' Building, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400 018, Maharashtra CIN : 124229AS1973PlCOOl446 email id: [email protected], website: http//www.amines.com
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
,
| Sr. Particulars | (>: In lakhs) Standalone |
||||||
|---|---|---|---|---|---|---|---|
| No. | Quarter ended Year ended |
||||||
| 31-Mar-21 | 31-Dec-20 | 31-Mar-20 | 31-Mar-21 | 31-Mar-20 | |||
| Audited | Unaudited | Audited | Audited | Audited | |||
| I. | Income | ||||||
| a | Revenue from Operations | 14,287.83 | 11,140.34 | 10,019.18 | 44,189.61 | 39,914.69 | |
| b | Other Income | 129.12 | 131.71 | 85.44 | 486.51 | 405.24 | |
| Total Revenue (a+b) | 14,416.9S | 11,272.05 | 10,104.62 | 44,676.12 | 40,319.93 | ||
| II. | Expenses | ||||||
| Cost of Materials Consumed | 8,772.40 | 7,510.42 | 6,246.04 | 27,208.54 | 26,669.41 | ||
| Purchase of Stock -in -Trade | 381.8S | 18.61 | 44.44 | 450.06 | 1,189.62 | ||
| Changes in Inventories of Finished Goods, | 565.62 | (376.61) | 86.19 | 698.01 | (1,118.22) | ||
| Stock -in- Trade and Work -in- Progress | |||||||
| Employee Benefits Expenses | 432.98 | 390.38 | 396.24 | 1,530.17 | 1,476.48 | ||
| Finance Costs | 193.65 | 230.14 | 221.20 | 959.53 | 935.13 | ||
| Depreciation and Amortisation Expense | 95.02 | 106.52 | 80.81 | 410.94 | 297.46 | ||
| Other Expenses | 2,819.89 | 2,318.38 | 2,026.18 | 9,013.22 | 7,516.99 | ||
| Total Expenses | 13,261.41 | 10,197.84 | 9,101.10 | 40,270.47 | 36,966.87 | ||
| III. | Profit before Exceptional Items and Tax (1-11) | 1,155.54 | 1,074.21 | 1,003.52 | 4,405.65 | 3,353.06 | |
| IV. | Exceptional Items | - | - | 301.91 | - | 301.91 | |
| V. | Profit before Tax (III-IV) | 1,155.54 | 1,074.21 | 701.61 | 4,405.65 | 3,051.15 | |
| VI. | Tax Expense | - | |||||
| Current Tax | 287.60 | 261.80 | 117.87 | 1,075.90 | 720.00 | ||
| Deferred Tax | 12.86 | 27.78 | 44.71 | 59.16 | (142.52) | ||
| Total Tax Expenses | 300.46 | 289.58 | 162.58 | 1,135.06 | 577.48 | ||
| VII. | Profit for the Period (V-VI) | 855.08 | 784.63 | 539.03 | 3,270.59 | 2,473.67 | |
| VIII. | Other comprehensive Income | ||||||
| a | Items that will not be reclassified to profit or loss | 39.48 | (6.19) | (30.10) | 12.79 | (41.65) | |
| b | Items that will be reclassified to profit or loss | - | - | - | - | - | |
| Total Other Comprehensive Income | 39.48 | (6.19) | (30.10) | 12.79 | |||
| , Less: Tax on OCI |
3.22 | - | - | 3.22 | |||
| Other Comprehensive Income (Net of Income Tax) | 36.26 | (6.19) | (30.10) | 9.57 | (41.65) | ||
| IX. | Total comprehansive income for the period (VlI+VIIl) | 891.34 | 778.44 | 508.93 | 3,280.16 | 2,432.02 | |
| X. | Paid-up equity share capital (face value '{ 2/- each) | 1,100.40 | 1,100.40 | 1,100.40 | 1,100.40 | 1,100.40 | |
| XI. | Other Equity (Reserve and Surplus) | - | - | 13,027.16 | 9,748.36 | ||
| XII. | Earning per equity share of 2 each (EPS) (not annualised) Basic / Diluted EPS |
1.55 | 1.43 | 0.98 | 5.94 | 4.50 |
Reg. Office Add: Poal Enclave, C/o. Pranati Builders Pvt. Ltd., Principal J.B.Road, Chenikuthi, Guwahati - 781 003, Assam Tel.: 022-24935282 Fax: 022 24938162
Corp. Office Add: '0' Building, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400 018, Maharashtra CIN : L24229AS1973PLCOOl446 email id: [email protected],website: http//www.amines.com
STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT MARCH 31, 2021
| ('I: In lakhs) | ||||
|---|---|---|---|---|
| Particulars | As at 31st | As at 31st | ||
| March, 2021 March. 2020 | ||||
| Audited | Audited | |||
| ASSETS | ||||
| Non-Current Assets | ||||
| a) Property, Plant and Equipment | 7,299.79 | 7,461.28 | ||
| b) Capital Work-in-Progress | 1,132.46 | 321.08 | ||
| c) Other Intangible Assets | 2.73 | 2.82 | ||
| d) Intangible Assets under development | - | - | ||
| e) Financial Assets | ||||
| i) Investments | 19.10 | 19.10 | ||
| ii) Loans | 116.25 | 116.41 | ||
| iii) Other Non-Current Financial Assets | 281.78 | 417.62 | ||
| Total Non-Current Assets | 8,852.11 | 8,338.31 | ||
| Current Assets | ||||
| a) Inventories | 5,383.34 | 5,939.19 | ||
| b) Financial Assets | ||||
| i) Trade Receivables | 8,895.06 | 6,838.38 | ||
| ii) Cash and cash equivalents | 4,583.83 | 201.53 | ||
| iii) Bank Balances other than (ii) mentioned above | 221.55 | 170.33 | ||
| iV) Loans | 19.95 | 17.98 | ||
| v) Other Financial Assets | 51.43 | 49.90 | ||
| c) Other Current Assets Total Current Assets |
2,557.38 | 1,633.26 | ||
| 21,712.54 | 14,850.57 | |||
| TOTAL ASSETS | 30,564.65 | 23,188.88 | ||
| EQUITY AND LIABILITIES | ||||
| Equity | ||||
| a) Equity Share Capital | 1,100.40 | 1,100.40 | ||
| b) Other Equity | 13,027.16 | 9,748.36 | ||
| Total Equity | 14,127.56 | 10,848.76 | ||
| Liabilities | ||||
| Non-Current Liabilities | ||||
| a) Financial Liabilities | ||||
| i) Borrowings | 2,747.45 | 2,893.71 | ||
| b) Provisions | 53.67 | 56.30 | ||
| c) Deferred Tax Liabilities (Net) | 600.96 | 541.80 | ||
| Total Non-Current Liabilities | 3,402.08 | 3,491.81 | ||
| Current Liabilities | ||||
| a) Financial Liabilities | ||||
| i) Borrowings | 4,321.14 | 2,599.18 | ||
| ii) Trade Payables | ||||
| - Due to micro, small and medium enterprises | 136.73 | 89.03 | ||
| - Due to creditors other than micro, small and medium enterprises | 7,234.20 | 5,266.70 | ||
| iii) Other Financial Liabilities | 438.64 | 451.95 | ||
| b) Provisions | 57.22 | 42.60 | ||
| c) Current Tax Liabilities (net) | 114.15 | 109.69 | ||
| d) Other Current Liabilities | 732.93 | 289.16 | ||
| Total Current Liabilities | 13.035.01 | 8,848.31 | ||
| TOTAL EQUITY AND LIABILITIES | ||||
| 30,564.65 | 23,188.88 |
AMINES & PLASTICIZERS LIMITED Reg. Office Add: Poal Enclave, C/o. Pranati Builders Pvt. ltd., Principal J.B.Road, Chenikuthi, Guwahati - 781 003, Assam Tel.: 022-24935282 Fax: 022 24938162 Corp. Office Add: '0' Building, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400 018, Maharashtra CIN : L24229AS1973PLCOOl446 email id: [email protected], website: http//www.amines.com AUDITED STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31,2021 Particulars A cash Flow from Operating Activities Net Profit before Tax and Extraordinary Items Adjustements for: Depreciation and Amortisation Expenses Loss on Sale of Fixed Assets Loss on Sale of Fixed assets Gain on Sale of Susidary Holding Dividend Income Interest and other Income Finance Costs Operating Profit before Working Capital Changes Adjusted for: Non-Current/Current Financial and Other Assets Inventories Non-Current/Current Financial and Other Liabilities/Provisions Cash Generated from Operations Direct taxes (paid) IRefund (net of tax paid) Cash flow before extraordinary items Extraordinary Items Net Cash Flow from Operating Activities B Cash Flow from Investing Activities Purchase of Fixed Assets Proceeds from Sale, Square up of Investment Interest Income Sale of Fixed Assets Net cash Flow froml (Used in) Investing Activities C Cash Flow from Financing Activities Proceeds/(Repayment) from Long Term Borrowings (Net) Proceeds/(Repayment) from Short Term Borrowings Dividend and Distribution Tax Paid Interest Paid Net cash flow from I (Used in) Financing activities Net increase/(decrease) In Cash and Cash equivalents (Total A+B+e) Cash and cash equivalents • Opening Balance - Closing Balance (A) (8) (e) ('I: In lakhs) For the year For the year ended 31st ended 31st March,2021 March, 2020 Audited Audited 4,405.65 3,051.15 410.94 297.46 9.96 - - (38.84) - - (483.72) (363.86) 959.53 935.13 5,302.36 3,881.04 (2,899.52) 3,015.97 555.85 (271.91) 2,467.23 (2,153.29) 123.56 590.77 5,425.92 4,471.81 (1,072.81) (750.66) 4,353.11 3,721.15 (1,090.08) (2,684.50) - 44.82 483.72 363.86 19.38 - (586.98) (2,275.82) (146.26) 810.43 1,721.96 (1,733.23) - (397.98) (959.53) (935.13) 616.17 (2,255.91) 4,382.30 (810.58) 201.53 1,012.11 4,583.83 201.53
- 1 The above audited financial results have been reviewed and recommended by the Audit Committee at their meeting held on June 07, 2021 and approved by the Board of Directors at its meeting on the same date.
- 2 The Board of Directors have recommended, subject to the approval of the equity shareholders at the ensuing Annual General Meeting, a dividend on equity shares of 20% i.e. 0.40/- per Equity Share of 2/· each.
- 3 The audited financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lnd AS), prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.
- 4 The Company's main business is Chemical manufacturing falls within a single business segment and therefore, segment reporting in terms Ind AS-108 "Operating Segments" is not applicable.
- 5 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post· employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified. The company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
- 6 The figures for the quarter ended 31st March, 2021 and the corresponding previous quarter ended 31st March, 2020 are the balancing figures between the audited figures in respect of the full financial year and the published year to dated figures upto the end of third quarter of the relevant financial year.
- 7 Previous period figures have been regrouped I rearranged I restated / recaste to be in conformity with the Schedule III of the Companies Act, 2013. . f\SSO~ For Amines~ndJ'lasticizers Limited
C::l ul\~BM (/)
| Place: Mumbai |
|---|
| Date: 07th June, 2021 |
Place: Mumbal ~'f/' "- Date: 07th June, 2021 <:0- - •
Hemant Kumar Ruia Chairman & Managing Director DIN: 00029410
Independent Auditor's Report on Quarterly and Year to Date Audited Consolidated Financial Results of Amines & Plasticizers Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (as amended)
To the Board of Directors Amines & Plasticizers Limited
Report on the audit of the Consolidated Financial Results
Opinion
We have audited the accompanying Statement of quarterly and year to date Consolidated Financial Results of Amines & Plasticizers Limited ('the Company') for the year ended March 31, 2021 and the notes thereon (hereinafter referred to as the "Financial Results") attached herewith, being compiled by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us these consolidated financial results:
- Include the annual financial results of following Subsidiaries
- a. Amines & Plasticizers FZ LLC
- are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated net profit for the year ended March 31, 2021 and other comprehensive income and other financial information for the year ended on that date.
Basis for Opinion
"Omkar"Behind Guru Nanak Petrol Pump, E-Mail: [email protected] Mumbai – 400 093 www.bdgandassociates.com Mumbai | Delhi | Kota We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the CompaniesAct, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditors' Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on consolidated annual financial results.
910, 9th Floor,The Summit Business Bay – Phone : +91-22-26813100 Off. Andheri Kurla Road, Andheri (E),
Management's Responsibilities for the Consolidated Financial Annual Results
These financial results have been prepared on the basis of the consolidated financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit / loss for the year ended March 31, 2021 and other comprehensive income and other financial information of the company in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the financial results, the respective Board of Directors are responsible for assessing the Company and its Subsidiaries ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company and its Subsidiaries or to cease operations, or has no realistic alternative but to do so.
The Respective Board of Directors are also responsible for overseeing the Company's financial reporting process of Company and its Subsidiaries.
Auditors' Responsibilities for the Audit of the Consolidated AnnualFinancial Results
Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
- Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Consolidated Financial Results, including the disclosures, and whether the Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the Consolidated Financial Results of the Company to express an opinion on the Consolidated Financial Results.
Materiality is the magnitude of misstatements in the Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Consolidated Financial Results.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. We also performed procedures in accordance with the circular issued by SEBI under Regulation 33(8) of Listing Regulations to the Extent Applicable.
Other Matters
The Consolidated Financial Results include the results for the quarter ended March 31, 2021 being the balancing figures between audited figures in respect of the full financial year and the unaudited year to date figures up to the third quarter of the current financial yearwhich were subject to limited review by us.
For B D G & Associates Chartered Accountants Firm Registration No.: 119739W
Nikhil Rathod Partner Membership No: 161220 Place: Mumbai Date: June 7, 2021 UDIN: 21161220AAAACC7654
Reg. Office Add: Poal Enclave, C/o. Pranati Builders Pvt. Ltd., Principal J.B.Road, Chenikuthi, Guwahatl • 781 003, Assam Tel.: 022-24935282 Fax: 022 24938162
Corp. Office Add: '0' Building, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400 018, Maharashtra CIN : L24229AS1973PLCOO1446 email id: [email protected], website: http//www.amines.com
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
| (~In lakhs) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Sr. | Quarter ended | Year ended | ||||||
| No. | Particulars | 31-Mar-21 | 31-Dec-20 | 31·Mar-20 | 31-Mar-21 | 31·Mar-20 | ||
| Audited | Unaudited | Audited | Audited | Audited | ||||
| I. | Income | |||||||
| a | Revenue from Operations | 14,287.83 | 11,140.34 | 10,019.18 | 44,189.61 | 39,914.69 | ||
| b Other Income | 129.12 | 131.71 | 151.75 | 486.51 | 405.24 | |||
| Total Revenue (a+b) | 14,416.95 | 11,272.05 | 10,170.93 | 44,676.12 | 40,319.93 | |||
| II. | Expenses | |||||||
| Cost of Materials Consumed | 8.772.40 | 7,510.42 | 6,246.04 | 27,208.54 | 26,669.41 | |||
| Purchase of Stock -in -Trade | 381.85 | 18.61 | 44.44 | 450.06 | 1,189.62 | |||
| Changes in Inventories of Finished Goods, | 565.62 | (376.61) | 86.19 | 698.01 | (1,118.22) | |||
| Stock -in- Trade and Work -in- Progress | ||||||||
| Employee Benefits Expenses | 432.98 | 390.38 | 396.24 | 1,530.17 | 1,476.48 | |||
| Finance Costs | 194.07 | 230.56 | 221.69 | 961.23 | 936.80 | |||
| Depreciation and Amortisation Expense | 95.02 | 106.52 | 80.81 | 410.94 | 297.46 | |||
| Other Expenses | 2,822.12 | 2,320.52 | 1,030.15 | 9,022.73 | 7,528.96 | |||
| Total Expenses | 13,264.06 | 10,200.40 | 9,105.56 | 40,281.68 | 36,980.51 | |||
| III. | Profit before Exceptional Items and Tax (I-II) | 1,152.89 | 1,071.65 | 1,065.37 | 4,394.44 | 3,339.42 | ||
| IV. | Exceptional Items | - | - | 301.91 | - | 301.91 | ||
| V. | Profit before Tax (III-IV) | 1,152.89 | 1,071.65 | 763.46 | 4,394.44 | 3,037.51 | ||
| VI. | Tax Expense | |||||||
| Current Tax | 287.60 | 261.80 | 117.87 | 1,075.90 | 720.00 | |||
| Deferred Tax | 12.86 | 27.78 | 44.71 | 59.16 | (142.52) | |||
| Total Tax Expenses | 300.46 | 289.58 | 162.58 | l,l3S.06 | 577.48 | |||
| VII. | Profitforthe Period (V-VI) | 852.43 | 782.07 | 600.88 | 3,259.38 | 2,460.03 | ||
| VIII. | Other comprehensive Income | |||||||
| a | Items that will not be reclassified to profit or loss | 39.48 | (6.19) | (30.10) | 12.79 | (41.65) | ||
| b | Items that will be reclassified to profit or loss | (2.88) | 2.49 | 3.77 | (1.28) | 3.24 | ||
| Total Other Comprehensive Income | 36.60 | (3.70) | (26.33) | 11.51 | - | |||
| Less: Tax on OCI | 3.22 | - | - | 3.22 | - | |||
| Other Comprehensive Income (Net of Income Tax) | 33.38 | (3.70) | (26.33) | 8.29 | (38.41) | |||
| IX. | Total comprehansive income for the period (VII+VIII) | 819.05 | 778.37 | 574.55 | 3,251.09 | 2,421.62 | ||
| X. | Paid-up eqUity share capital (face value 2/- each) |
1,100.40 | 1,100.40 | 1,100.40 | 1,100.40 | 1,100.40 | ||
| XI. | Other Equity (Reserve and Surplus) | - | - | - | 12,975.34 | 9,709.03 | ||
| XII. | Earning per equity share of 2 each (EP5) (not annualised) |
1.42 | 1.09 | 5.92 | 4.47 | |||
| Basic / Diluted EPS | 1.55 |
Reg. Office Add: Poal Enclave, C/o. Pranati Builders Pvt. Ltd., Principal J.B.Road, Chenikuthi, Guwahati - 781 003, Assam Tel.: 022-24935282 Fax: 022 24938162
Corp. Office Add: '0' Building, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400 018, Maharashtra CIN : 124ZZ9AS1973PLC001446 email id: [email protected], website: http//www.amines.com
| ('l: in lakhs) | ||||
|---|---|---|---|---|
| Particulars | As at 31st | As at 31st | ||
| March, 2021 | March, 2020 | |||
| Audited | Audited | |||
| ASSETS | ||||
| Non-Current Assets | ||||
| a) Property, Plant and Equipment | 7,299.79 | 7,461.28 | ||
| b) Capital Work-in-Progress | 1,132.46 | 321.08 | ||
| c) Other Intangible Assets | 2.73 | 2.82 | ||
| d) Financial Assets | ||||
| i) Investments |
0.02 | 0.02' | ||
| ii) Loans | 60.65 | 60.87 | ||
| iii) Other Non-Current Financial Assets | 281.78 | 417.62 | ||
| Total Non-Current Assets | 8,777.43 | 8,263.69 | ||
| Current Assets | ||||
| a) Inventories | 5,383.34 | 5,939.19 | ||
| b) Financial Assets | ||||
| i) Trade Receivables | 8,895.06 | 6,838.38 | ||
| ii) Cash and cash equivalents | 4,594.72 | 223.96 | ||
| iii) Bank Balances other than (ii) mentioned above | 233.52 | 182.67 | ||
| iv) Loans | 19.95 | 17.98 | ||
| v) Other Financial Assets | 51.43 | 49.90 | ||
| c) Other Current Assets | 2,558.43 | 1,634.54 | ||
| Total Current Assets | 21,736.45 | 14,886.62 | ||
| TOTAL ASSETS | 30,513.88 | 23,150.31 | ||
| EQUITY AND LIABILITIES | ||||
| Equity a) Equity Share Capital |
1,100.40 | |||
| b) Other Equity | 12,975.34 | 1,100.40 9,709.03 |
||
| Total Equity | 14,075.74 | 10,809.43 | ||
| Non Controling Interest | - | - | ||
| Liabilities | ||||
| Non-Current Liabilities | ||||
| a) Financial Liabilities | ||||
| i) Borrowings | 2,747.45 | 2,893.71 | ||
| b) Provisions | 53.67 | 56.30 | ||
| c) Deferred Tax Liabilities (Net) | 600.96 | 541.80 | ||
| Total Non-Current Liabilities | 3,402.08 | 3,491.81 | ||
| Current Liabilities | ||||
| a) Financial Liabilities | ||||
| i) Borrowings | 4,321.14 | 2,599.18 | ||
| ii) Trade Payables | ||||
| - Due to micro, small and medium enterprises | 136.73 | 89.03 | ||
| - Due to creditors other than micro, small and medium enterprises | 7,235.24 | 5,267.46 | ||
| iii) Other Financial Liabilities | 438.64 | 451.95 | ||
| b) Provisions | 57.22 | 42.60 | ||
| c) Current Tax Liabilities (net) | 114.15 | 109.69 | ||
| d) Other Current Liabilities | 732.94 | 289.16 | ||
| Total Current Liabilities | 13,036.06 | 8,M9.07 | ||
| TOTAL EQUITY AND LIABILITIES | 30,513.88 | 23,150.31 |
AUDITED CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT MARCH 31, 2021
Reg. Office Add: Poal Enclave, C/o. Pranati Builders Pvt. Ltd., Principal J.B.Road, Chenikuthi, Guwahati - 781 003, Assam Tel.: 022-24935282 Fax: 022 24938162
Corp. Office Add: '0' Building, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai • 400 018, Maharashtra , CIN : L24229AS1973PLC001446 email id: [email protected], website: http//www.amines.com
AUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2021
| (~in lakhs) | ||||||
|---|---|---|---|---|---|---|
| For the year | For the year | |||||
| Particulars | ended 31st | ended 31st | ||||
| March,2021 | March, 2020 | |||||
| Audited | Audited | |||||
| A | Cash Flow from Operating Activities | |||||
| Net Profit before Tax and Extraordinary Items | 4,394.44 | 3,037.51 | ||||
| Adjustements for: | ||||||
| Depreciation and Amortisation Expenses | 410.94 | 297.46 | ||||
| Loss on Sale of Fixed assets | 9.96 | - | ||||
| Gain on Sale of Susidary Holding | (38.84) | |||||
| Interest and other Income | (483.72) | (363.86) | ||||
| Finance Costs | 961.23 | 936.80 | ||||
| Operating Profit before Working Capital Changes | S,292.85 | 3,B69.07 | ||||
| Adjusted for: | ||||||
| Non-Current/Current Financial and Other Assets | (2,898.86) | 2,644.91 | ||||
| Inventories | 555.85 | (271.91) | ||||
| Non-Current/Current Financial and Other Liabilities/Provisions | 2,466.23 | (2,404.55) | ||||
| 123.22 | (31.55) | |||||
| cash Generated from Operations | 5,416.07 | 3,837.52 | ||||
| Direct taxes (paid) /Refund (net of tax paid) | (1,072.81) | (750.66) | ||||
| Cash flow before extraordinary items | - | - | ||||
| Extraordinary Items | - | - | ||||
| Net Cash Flow from Operating Activities (A) |
4,343.26 | 3,086.86 | ||||
| B | Cash Flow from Investing Activities | |||||
| Purchase of Fixed Assets | (1,090.08) | (2,684.50) | ||||
| Sales Square up / (Purchase) of Investment | 44.82 | |||||
| Adjustment on sale of Subsidiary APL Infotech | - | 619.39 | ||||
| Interest Income | 483.72 | 363.86 | ||||
| Sale of Fixed Assets | 19.38 | - | ||||
| Net Cash Flow from/ (Used in) Investing Activities (B) |
(586.98) | (1,656.43) | ||||
| C | cash Flow from Financing Activities Proceeds/(Repayment) from Long Term Borrowings (Net) |
(146.26) | ||||
| Proceeds/(Repayment) from Short Term Borrowings | 1,721.96 | 820.56 (1,733.23) |
||||
| Dividend and Distribution Tax Paid | - | (397.98) | ||||
| Interest Paid | (961.23) | (936.80) | ||||
| Net cash flow from / (Used in) Financing activities (e) |
614.47 | (2,247.45) | ||||
| Net increase/(decrease) in Cash and cash eqUivalents (Total A+B+C) | 4,370.76 | (817.01) | ||||
| Cash and cash equivalents - Opening Balance • Closing Balance |
223.96 | 1,040.97 | ||||
| 4,594.72 | 223.96 |
1 The above audited financial results have been reviewed and recommended by the Audit Committee at their meeting held on June 07, 2021 and approved by the Board of Directors at its meeting on the same date.
2 The Board of Directors have recommended, subject to the approval of the equity shareholders at the ensuing Annual General Meeting, a dividend on equity shares of 20% Le. 0.40/- per Equity Share of 2/- each
3 The audited financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS), prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.
- 4 The Company's main business is Chemical manufacturing falls within a single business segment and therefore, segment reporting in terms Ind AS 108 "Operating Segments" is not applicable.
- 5 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post- employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified. The company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
- 6 The figures for the quarter ended 31st March, 2021 and the corresponding previous quarter ended 31st March, 2020 are the balancing figures between the audited figures in respect of the full financial year and the published year to dated figures upto the end of third quarter of the relevant financial year.
- 7 Previous period figures have been regrouped / rearranged / restated / recaste to be in conformity with the Schedule III of the Companies Act, 2013.
Place: Mumbai Date: 07th June, 2021
For Amines a~~ticizers Limited
Hemant Kumar Ruia Chairman & Managing Director DIN: 00029410
(1509001:2015,15014001:2015, OH5A5 18001:2007 CERTIFIED COMPANy)
Date: June 07, 2021
To, BSE Limited, Phiroze Jcejeebhoy Towers, Dalal Street, Mumbai- 400 001.
Dear Sirs, Ref: Scrip Code 506248
Sub: I)eclaration under Regulation 33 (3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2015 regarding Audit Repol·ts with unmodified opinion.
Ref: SEBI Circular No. CIR/CFO/CMO/S6/2016 dated 271h May, 2016.
In compliance with the provisions of Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2015 as amended by SEBI circular No. CIRfCFD/CMD/56/20 16 dated May 27, 2016, I hereby confirm and declare that the Statutor Auditors of our Company MIs BDG and Associates, Chartered Accountants (FRN : I 19739W ) have issued an Audit Report with unmodified opinion on Audited tandalone and Consolidated Financial Results of the Company for the 41h Quarter and the year ended 31 51 March. 2021.
We request to kindly take a note ofthe same.
Yours sincerely For Amines and Plasticizers Limited
Pramod Sharma Chief Financial Officer
