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Austin Engineering Co. Ltd. Interim / Quarterly Report 2024
62171_rns_2023-11-09_50b65c29-7f92-4b27-b583-7c0850e02692.pdf
Interim / Quarterly Report
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I
I
AUSTIN ENGINEERING COMPANY LIMITED
Regd. Onlce & wofts. Pollo, To. Bheson, vio Ronpur (Soroth), Posl Hodmoliyo -362 030. Dist. Junogodh flndio) Phones : (02873) 252223, 252267 , 252268 tox I 1028731252225 ClN. t27259GJI 978PtC08r 79 .GSTIN}24AABCA8i89Nl26
rNE7s9F010L2 Date: gth November,2023 Aec / se c / BSE / 2023 -24 / S O BSE" Code: AUSTENG I 522005 |
To, BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Fort, MUMBAI 4OO OO1
Dear sir
This is to inform you that the Board of Directors of the company today, at its meeting concluded has inter-alia considered the following business. pursuant to Regulation 30 and 33 of SEBI LODR ( Listing obrigation and Discrosure Requirements ) Regurations,2ols we attached following :
-
- Considered and approved the Standalone & Consolidated for the quarter/half year ended 30th September,2023 stan dard (lND-AS). Unaudited Financial Resu lts as per lnd ian Accounting
- 2Took the note of the Limited Review Report issued by M/s. J C Ranpura & co., Chartered Accountants for the quarter/harf year ended 3,th september,2023.
The meeting of the Board of Directors commenced, at 2.00p.m. and concruded at 3.15 p.m.
Thanking you,
Encl : a/a
Yours fa ithfu lly, Fpt AUSTIN ENGINEERTNG CO. LTD. \
:--- lY)t"- Kira n Sl&'tr /- Executi\ffficer (Secretarial)
ISO 9001:2015 ISO r4001:2015 ISO 4so0r:2018
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
Statement of Unaudited Standalone Financial Result for the Quarter & Half Year ended on 30-09-2023
| Rs. in Lakhs | ||||||
|---|---|---|---|---|---|---|
| Quarter Ended | Half Year Ended | Year Ended | ||||
| Particulars | 30-09-2023 | 30-06-2023 | 30-09-2022 | 30-09-2023 | 30-09-2022 | 31-03-2023 |
| income | Un Audited | Un Audited | Un Audited | Un Audited | Un Audited | Audited |
| Revenue From Operations | 2,737.90 | 2,600,93 | 2,837.00 | 5,338.83 | 5,805.87 | 10,798.03 |
| Other Income | 134.78 | 11.72 | 88.44 | 146.50 ٠ |
105.56 | 249.16 |
| Total Income | 2,872.68 | 2,612.65 | 2,925.44 | 5,485.33 | 5,911.43 | 11,047.19 |
| Expenses | ||||||
| Cost of materials consumed | 885.42 | 836.08 | 1,262.12 | 1,721.50 | 2,061.48 | 2.993.80 |
| Purchases of Stock-in-Trade | 294.41 | 211.39 | 392.56 | 505.80 | 597.29 | 1,036.87 |
| Changes in inventories of finished goods, Stock-in -Trade and work-in-progress | 75.67 | 48.43 | $-104.60$ | 124.09 | 639.79 | 1,116.71 |
| Employee benefits expense | 508.18 | 430.68 | 434.34 | 938.86 | 861.83 | 1,673.21 |
| Finance costs | 8.58 | 5.68 | ÷ 7.07 |
14.26 | 12.09 | 26.61 |
| Depreciation and amortization expense | 27.63 | 33.62 | 23.23 | 61.25 | 44.95 | 96.03 |
| Other expenses | 946.69 | 946.73 | 783.00 | 1,893.42 | 1,436.38 | 3,631.98 |
| Total expenses | 2,746.58 | 2,512.61 | 2,797.72 | 5,259.18 | 5,653.81 | 10,575.21 |
| Profit/(loss) before tax | 126.10 | 100.04 | 127.72 | 226.15 | 257.62 | 471.98 |
| Tax expense | ||||||
| Current tax | 32.86 | 32.60 | 47.85 | 65.46 | 96.56 | 116.96 |
| Deferred tax | 11.22 | 16.71 | $-44.26$ | 27.93 | $-9.66$ | $-32.23$ |
| Prior period tax | ٠ | $\sim$ | $-15.28$ | |||
| Total Tax expense | 44.08 | 49.31 | 3.59 | 93.39 | 86.90 | 69.45 |
| Profit/(loss) after tex for the period | 82.02 | 50.73 | 124.13 | 132.76 | 170.72 | 402.53 |
| Other Comprehensive Income | ||||||
| Items that will not be reclassified to profit or loss | $-19.85$ | 1.49 | $-41.35$ | $-18.36$ | 9.98 | $-32.28$ |
| Income tax relating to items that will not be reclassified to profit or loss | 5.16 | $-0.39$ | 10.75 | 4.77 | $-2.60$ | 8.39 |
| Total Other Comprehensive Income | $-14.69$ | 1.10 | $-30.60$ | $-13.59$ | 7.38 | $-23.89$ |
| Total Comprehensive income for the period | 67.33 | 51.83 | 93.53 | 119.17 | 178.10 | 378.64 |
| $\bullet$ | ||||||
| Paid up Share Capital (Face value Rs.10/-) | 347.78 | 347.78 | 347.78 | 347.78 | 347.78 | 347.78 |
| Other Euity | 5,285.48 | |||||
| Earnings per equity share (For Continuing Operation) | ||||||
| Basic | 2.36 | 1.46 | 3.57 | 3.82 | 4.91 | 11.57 |
| Diluted | 2.36 | 1.46 | 3.57 | 3.82 | 4.91 | 11.57 |
| Earnings per equity share [For Continuing & dicontinued operation] | ||||||
| Basic | 2.36 | 1.46 | 3.57 | 3.82 | 4.91 | 11.57 |
| Diluted | 2.36 | 1.46 | 3.57 | 3.82 | 4.91 | 11.57 |
Place : Village Patla ,Tal.Bheshan ,Dist,Junagadh
Dated : 09.11.2023
3Ċ
LIMITED
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
Staement of Unaudited Standalone Assets and Liabilities For The Half Year Ended 30-09-2023
| Rs. in Lakhs | ||
|---|---|---|
| Particulars | As at | As at |
| 30-09-2023 | 31-03-2023 | |
| Unaudited | Audited | |
| ASSETS | ||
| Property, Plant and Equipment | 974.72 | 920.86 |
| Capital work-in-progress | ||
| Investment Property | ۰. | |
| Goodwill | ||
| Other Intangible assets | 191.43 | 195.55 |
| Intangible assets under development | ||
| Financial Assets | ||
| Investments | 22.72 | 22.72 |
| Trade receivables | ||
| Loans | ||
| Other financial assets | 88.67 | 85.33 |
| Deferred tax assets net | 242.99 | 270.92 |
| Other non-current assets | ||
| Total Non-current Assets | 1,520.53 | 1,495.38 |
| Current assets | ||
| Inventories | 3,338.61 | 3,257.36 |
| Financial Assets | ||
| Investments | 650.59 | 300.59 |
| Trade receivables | 2,475.64 | 2,381.17 |
| Cash and cash equivalents | 453.93 | 434.21 |
| Bank balances | ä, | |
| Loans | 17.41 | |
| Other financial assets | 190.80 | 262.64 |
| Other current assets | 72.84 | 314.45 |
| Total Current Assets | 7,244.82 | 6,950.38 |
| Total Assets $\bullet$ |
8,720.35 | 8,445.76 |
| EQUITY and LIABILITIES | ||
| Equity Share Capital | 347.78 | 347.78 |
| Other Equity | 5,418.22 | 5,285.48 |
| Total Equity | 5,766.00 | 5,633.26 |
| Non-current liabilities | ||
| Financial Liabilities | ||
| Borrowings | ||
| Lease liabilities | ||
| Trade Payables | ||
| total outstanding dues of micro enterprises and small enterprises | ||
| total outstanding dues of others | ||
| Other financial liabilities | ||
| Provisions | 213.53 | 868.69 |
| Deferred tax liabilities net | ||
| Other non-current liabilities | 5.00 | 5.00 |
| Total Non-current liabilities | 218.53 | 873.69 |
| Current liabilities | ||
| Financial Liabilities | ||
| Borrowings | ||
| Lease liabilities | ||
| Trade Payables | 1,177.93 | 1,331.76 |
| Other financial liabilities | 0.87 | 0.87 |
| $\cdot$ Other current liabilities |
85.34 | 118.21 |
| Provisions | 1,444.90 | 481.65 |
| Current Tax Liabilities (Net) | 26.78 | 6.32 |
| Total Current liabilities ł, |
2,780.82 | 1,938.81 |
| Total liabilities | 2,999.35 | 2,812.50 |
| Total Equity and Liabilities | 8,720.35 | 8,445.76 |
Place : Village Patla ,Tal.Bheshan ,Dist,Junagadh Dated: 09.11.2023
3Ċ
$\ddot{\phantom{a}}$
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Junagadh off.: 101. G.I.D.C. Estate, Vadal Road, Junagadh - 362 003. (India) Tel.: : (91-285) 2660069 e-mail: [email protected] Visit us at http://www.aec.com
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
| UNAUDITED STANDALONE STATEMENT OF CASHFLOWS FOR THE HALF YEAR ENDED 30-09-2023 | |||
|---|---|---|---|
| (Rs.IN Lakhs) | |||
| A | CASH FLOW FROM OPERATING ACTIVITIES | UNAUDITED 30.09.2023 |
AUDITED |
| Profit before tax | 226.16 | 31 March 2023 471.98 |
|
| Adjustments for: | |||
| Depreciation and amortisation expense | 61.25 | 96.03 | |
| Profit on sale of PPE (Net) | (3.47) | ||
| Deferred income on security deposit received | |||
| Interest income | (4.90) | (10.55) | |
| Gain on fair valuation of financial instruments (net) Dividend income |
|||
| Gain on foreign currency transactions (net) | |||
| Finance costs | 14.26 | 26.61 | |
| Preliminary expenses written off | |||
| Loss on sale of non current investments | S. | ||
| Provision for doubtful advances/receivables . | 0.95 | 19.00 | |
| Movement in provision for employee benefits and others | |||
| Amounts/assets written off Unclaimed balances and excess provisions written back |
|||
| Mark to market of derivative asset | |||
| Operating profit before working capital changes | 297.72 | 599.61 | |
| Movement in working capital | |||
| ((Increase)/Decrease) in non-current loans | |||
| (Decrease/(Increase)) in inventories | (81.25) | 1,079.58 | |
| Increase in Trade Receivable and other financial assets (Decrease/(increase)) in other current assets |
(95.42) | (794.87) | |
| (Decrease/(increase)) in Other Non Current Assets & Other Financial Assets | 251.04 | (152.27) | |
| ((Decrease)/Increase) in Trade payables & Other Financial Liabilities | (3.41) (153.83) |
42.05 (464.03) |
|
| Increase financial liabilites | |||
| (Increase/(Decrease)) in other current liabilites | (32.88) | 114.36 | |
| Increase in Provisions | 308.09 | 10.81 | |
| Cash flow from operating activities post working capital changes | 490.08 | 435.24 | |
| Income tax paid (net) Net cash flow used/from operating activities (A) |
à. | (38.21) | |
| 490.08 | 397.03 | ||
| $\mathbf{B}$ | CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of PPE (including capital work-in-progress) | (108.81) | (209.44) | |
| Proceeds from sale/disposal of PPE | 6.95 | ||
| Purchase of intangible assets | (2.18) | (4.10) | |
| Purchase of current and non-current investments | (350.00) | (175.00) | |
| Proceeds from sale of investments Assets held for sale |
25.00 | ||
| Movement in fixed deposits (net) | |||
| Interest received | 4.90 | 10.55 | |
| Dividend received | |||
| Net cash flows used in investing activities (B) | (456.09) | (346.05) | |
| C | |||
| CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of capital (including securities premium and share |
|||
| application money) | |||
| Proceeds from long-term borrowings (net) | |||
| Repayment of short-term borrowings (net) | (376.32) | ||
| Movement in retained earnings | |||
| Finance cost paid | (14.26) | (26.61) | |
| Dividend paid (including tax) | |||
| Net cash used in financing activities (C) | (14.26) | (402.93) | |
| Increase in cash and cash equivalents $(A+B+C)$ | 19.72 | ||
| Cash and cash equivalents at the begining of the year | 434.21 | (351.95) 786.16 |
|
| Cash and cash equivalents at the end of the year | 453.93 | 434.21 | |
Place Village Patla, Tal, Bheshan, Dist. Jnagadh Date: 09.11.2023
For and on behalf of the Board AUSTIN ENGINEERING COMP H.N.VAD MA CHAIRMAN
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
| SR. INO. |
PARTICULARS | |||||||
|---|---|---|---|---|---|---|---|---|
| STANDALONE | ||||||||
| QUARTER ENDED HALF YEAR ENDED YEAR ENDED |
||||||||
| 30th September 2023 |
30th June 2023 |
30th September 2022 |
30th September 2023 |
30th September 2022 |
31st March. 2023 |
|||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |||
| 1 | Segment Revenue | |||||||
| (a) | Bearing | 2.866.15 | 2,595.76 | 2,901.61 | 5,461.91 | 5.865.05 | 10,963.49 | |
| (b) | Wind Turbine Power Generation | 6.53 | 16.89 | 23.83 | 23.42 | 46.38 | 83.70 | |
| (c) | Unallocated TOTAL |
|||||||
| Less: Inter Segment Revenue | 2,872.68 | 2,612.66 | 2,925.44 | 5,485.33 | 5,911.43 | 11,047.19 | ||
| Net sales/Income From Operations | 6.53 | 16.89 2,595.77 |
23.83 2,901.61 |
23.42 | 46.38 | 83.70 | ||
| 2,866.15 | 5,461.91 | 5,865.05 | 10,963.49 | |||||
| $\mathbf{2}$ | Segment Results (Profit)(+)/ Loss (-) before tax and finance cost from each segment) |
|||||||
| (a) | Bearing | 132.63 | 94.94 | 114.65 | 227.57 | 230.70 | 434.33 | |
| (b) | Wind Turbine Power Generation | 2.05 | 10.79 | 20.15 | 12.84 | 39.02 | 64.26 | |
| (c) | Unallocated | |||||||
| TOTAL | 134.68 | 105.73 | 134.80 | 240.41 | 269.72 | 498.59 | ||
| (i) | Less: | |||||||
| (ii) | Finance cost Other Un-allocable Expenditure (Net of Income) |
8.58 | 5.68 | 12.09 $-5.02$ |
14.26 | 12.09 | 26.61 | |
| Total Profit / (Loss) Before Tax | 126.10 | 100.05 | 127.73 | 226.15 | 257.63 | 471.98 | ||
| 3 | Segment Assets | |||||||
| (a) | Bearing | 8,484.81 | 8,332.80 | 8,397.28 | 8,484.81 | 8,397.28 | 8,104.32 | |
| (b) | Wind Turbine Power Generation | 38.80 | 42.67 | 45.35 | 38.80 | 45.35 | 47.80 | |
| (c) | Unallocated | 196.74 | 253.81 | 216.82 | 196.74 | 216.82 | 293.64 | |
| Total Segment Assets | 8,720.35 | 8,629.28 | 8,659.45 | 8,720.35 | 8,659.45 | 8,445.76 | ||
| 4 (a) |
Segment Liabilities Bearing |
|||||||
| (b) | Wind Turbine Power Generation | 2,994.36 4.99 |
2,939.20 4.99 |
3,269.09 5.00 |
2,994.36 | 3,269.09 | 2,807.51 | |
| (c) | Unallocated | 4.99 | 5.00 | 4.99 | ||||
| Total Segment Liabilities | 2,999.35 | 2,944.19 | 3,274.09 | 2,999.35 | 3,274.09 | 2.812.50 |
Place : Village Patla , Tal.Bheshan , Dist, Junagadh Dated: 09.11.2023
For & on behalf of the Board AUSTIN ENGINEERING COMPANY LIMITED
H.N. VADGAMA CHAIRMAN
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
NOTES:
- 1 The above results have been reviewed by the Audit Committee and Approved by the Board of Directors of the Company at their meeting held on 9 November, 2023. The Statutory Auditors of the company have carried out a "Limited Review" of the result for the quarter and half year ended on
- 2 The Statement has been prepared in accordance with the Companies (Indian Accounting Standards) rules 2015 (Ind AS) precribed under Section 133 of the Companies Act, 2013 as applicable and guidelines issued by the Securities and Exchange Board of India (SEBI).
- 3 The Company has two reportable segments viz. "Bearing " and "Wind Turbine Power Generation".
- 4 In accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, the above unaudited standalone financial results of the company are posted on Company's website and website of stock exchange viz. www.bseindia.com.
- 5 The figures of the previous quarter /half year period / year have been regrouped / re-classified / re-arranged, wherever necessary to correspond with the current period's classification/disclosure/comparable.
Place: Village Patla, Tal.Bheshan, Dist. Junagadh Dated: 09.11.2023
For & on behalf of the Board AUSTIN ENGINEERING COMPANY LIMITED
V. VAD CHAIRMAN
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
| Quarter Ended | Half year ended | Year Ended | |||||
|---|---|---|---|---|---|---|---|
| Particulars | 30-09-2023 | 30-06-2023 | 30-09-2022 | 30-09-2023 | 30-09-2022 | 31-03-2023 | |
| Un Audited | Un Audited | Un Audited | Un Audited | Un Audited | Audited | ||
| Income | |||||||
| Revenue From Operations | 2,801.93 | 2,682.75 | 2,892.90 | 5,484.67 | 5,947.75 | 11,079.34 | |
| Other Income | 134.78 | 11.72 | 88.44 | $\bullet$ 146.50 |
105.56 | 249.16 | |
| Total Income | 2,936.71 | 2,694.47 | 2,981.34 | 5,631.17 | 6,053.31 | 11,328.50 | |
| Expenses | |||||||
| Cost of materials consumed | 885.42 | 836.08 | 1,362.12 | 1,721.50 | 2,061.48 | 2,993.80 | |
| Purchases of Stock-in-Trade | 294.41 | 211.39 | 392.56 | 505.80 | 597.29 | 1,036.87 | |
| Changes in inventories of finished goods, Stock-in -Trade and work-in-progress | 75.67 | 48.43 | $-104.34$ | 124.09 | 639.79 | 1,116.71 | |
| Employee benefits expense | 530.46 | 452.81 | 456.08 | 983.27 | 912.61 | 1,768.70 | |
| Finance costs | 8.58 | 5.68 | 8.09 | 14.26 | 14.01 | 28.68 | |
| Depreciation and amortization expense | 27.63 | 33.62 | 23.17 | 61.25 | 44.95 | 97.59 | |
| Other expenses | 978.37 | 992.45 | 808.23 | 1,970.81 | 1,518.49 | 3.782.66 | |
| Total expenses | 2,800.54 | 2,580.46 | 2,845.92 | 5,380.98 | 5,896.85 | 10,825.01 | |
| Profit/(loss) before tax | 136.17 | 114.01 | 135.42 | 250.19 | 264.61 | 503.49 | |
| Tax expense | |||||||
| Current tax | 33.35 | 32.58 | 47.75 | 65.94 | 96.56 | 116.96 | |
| Deferred tax | 11.20 | 16.73 | $-42.83$ | 27.93 | $-9.66$ | $-31.76$ | |
| Prior period tax | $\blacksquare$ | $\overline{\phantom{a}}$ | ٠ | $\blacksquare$ | ٠ | $-15.28$ | |
| Total Tax expense | 44.55 | 49.31 | 4.92 | 93.87 | 86.90 | 69.92 | |
| Profit/(loss) after tax for the period | 91.62 | 64.70 | 130.50 | 156.32 | 177.71 | 433.57 | |
| Other Comprehensive Income | ٠ | ||||||
| Items that will not be reclassified to profit or loss | $-19.85$ | 1.49 | $-28.00$ | $-18.36$ | 9.98 | $-32.28$ | |
| Income tax relating to items that will not be reclassified to profit or loss | 5.16 | $-0.39$ | $-2.60$ | 4.77 | $-2.60$ | 8.39 | |
| Total Other Comprehensive Income | $-14.69$ | 1.10 | $-30.60$ | $-13.59$ | 7.38 | $-23.89$ | |
| Total Comprehensive Income for the period | 76.93 | 65.80 | 99.91 | 142.73 | 185.10 | 409.68 | |
| Paid -up Equity Share Capital (Face Value Rs.10/-) | 347.78 | 347.78 | 347.78 | 347.78 | 347.78 | 347.78 | |
| Other Equity | 5,377.20 | ||||||
| Earnings per equity share { For Continuing Oparation} | |||||||
| Basic | 2.63 | 1.86 | 3.75 | 4.49 | 5.11 | 12.47 | |
| Diluted | 2.63 | 1.86 | 3.75 | 4.49 | 5.11 | 12.47 | |
| Earnings per equity share { For Continuing & discontinued Operation} | |||||||
| Basic | 2.63 | 1.86 | 3.75 | 4.49 | 5.11 | 12.47 | |
| Diluted | 2.63 | 1.86 | 3.75 | 4.49 | 5.11 | 12.47 | |
Statement of Unaudited Consolidated Financial Result for the Quarter & Half Year ended on 30-09-2023
Place : Village Patla, Tal.Bheshan, Dist. Junagadh
Dated : 09.11.2023
Rs. in Lakhs
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
Statement of Unaudited Consolidated Assets & Liabilities For the Half Year Ended 30-09-2023
| UNAUDITED | AUDITED | ||
|---|---|---|---|
| Particulars | As at | As at | |
| 30-09-2023 | 31-03-2023 | ||
| ASSETS | |||
| Property, Plant and Equipment | 979.18 | 924.39 | |
| Capital work-in-progress | |||
| Investment Property | |||
| Goodwill | |||
| Other Intangible assets | 191.43 | 195.55 | |
| Intangible assets under development Financial Assets |
|||
| Investments | |||
| Trade receivables | ×. | ||
| Loans | |||
| Other financial assets | |||
| 88.67 | 100.31 | ||
| Deferred tax assets net | 248.87 | 275.80 | |
| Other non-current assets | |||
| Total Non-current Assets | 1,508.15 | 1,496.06 | |
| Current assets | |||
| Inventories | |||
| Financial Assets | 3,338.61 | 3,257.37 | |
| Investments | 650.59 | ||
| Trade receivables | 300.59 | ||
| Cash and cash equivalents | 3,713.41 609.31 |
4,027.34 641.06 |
|
| Bank balances | ä, | ||
| Loans | 17.41 | ||
| Other financial assets | 207.73 | 262.60 | |
| Other current assets | 224.84 | 314.45 | |
| Total Current Assets | 8,761.90 | 8,803.40 | |
| Total Assets | 10,270.05 | 10,299.47 | |
| EQUITY and LIABILITIES | |||
| Equity Share Capital | 347.78 | 347.78 | |
| Other Equity | 5,535.97 | 5,377.20 | |
| Total Equity | 5,883.75 | 5,724.98 | |
| Non-current liabilities | |||
| Financial Liabilities | |||
| Borrowings | |||
| Lease liabilities | |||
| Trade Payables | |||
| total outstanding dues of micro enterprises and small enterprises | |||
| total outstanding dues of others | |||
| Other financial liabilities | |||
| Provisions | 213.53 | 868.69 | |
| Deferred tax liabilities net | |||
| Other non-current liabilities | 5.00 | 5.00 | |
| Total Non-current liabilities | 218.53 | 873.69 | |
| Current liabilities | |||
| Financial Liabilities | |||
| Borrowings | ٠ | ||
| Lease liabilities | |||
| Trade Payables | 2,541.81 | 2,995.32 | |
| Other financial liabilities | 0.87 | 0.88 | |
| Other current liabilities | 154.08 | 216.63 | |
| Provisions | 1,444.90 | 481.65 | |
| Current Tax Liabilities (Net) | 26.11 | 6.32 | |
| Total Current liabilities | 4,167.77 | 3,700.80 | |
| Total Equity and Liabilities | 10,270.05 | 10,299.47 |
Place: Village Patla, Tal.Bheshan, Dist. Junagadh Dated: 09.11.2023
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018 TÜVRheinland CERTIFIED
Junagadh off.: 101. G.I.D.C. Estate, Vadal Road, Junagadh - 362 003. (India) Tel.:: (91-285) 2660069 e-mail: [email protected] Visit us at http://www.aec.com
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
Unaudited Consolidated Statement of Cash Flow for the Half Year Ended 30-09-2023
| Rs. in Lakhs | ||
|---|---|---|
| Particulars | Half YEAR Ended 30-09-2023 |
Year Ended |
| UNAUDITED | 31-03-2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | AUDITED | |
| Profit Before Tax | 250.19 | 503.49 |
| Adjustments for: | ||
| Depreciation and amortisation | 61.25 | 97.59 |
| (Gain)/Loss on disposal of property, plant and equipment | $-3.47$ | |
| (Gain)/Loss on disposal of Investments | ||
| (Gain)/Loss on investments measured at fair value through profit and loss | ||
| Provision for Income tax | ||
| Non cash expenses 1 | 4.77 | |
| Non cash expenses 2 | ||
| Bad debts, provision for trade receivables and advances, net | 0.95 | 19.00 |
| Finance Cost | 14.26 | 28.68 |
| Interest Income | $-4.90$ | $-10.55$ |
| Dividend Income | ||
| Unrealised (gain) / loss | ||
| Operating profit before working capital changes | 321.75 | 639.51 |
| Adjustment for (increase) / decrease in operating assets | ||
| Trade receivables | ||
| Unbilled revenue | 313.93 | $-1,590.37$ |
| Loans & Advances | ||
| Other financial assets | $-10.45$ | $-1.21$ |
| Inventories | 13.92 | 38.87 |
| Other assets | $-81.25$ | 1,079.58 |
| Other assets1 | 89.61 | $-152.27$ |
| Adjustment for Increase / (decrease) in operating liabilities | ||
| Trade payables | ||
| Employee benefit obligation | $-453.51$ | 380.72 |
| Other financial liabilities | ||
| Other Liabilities | $-63.18$ | $-2.38$ |
| Provisions | 308.09 | 114.39 |
| Other Liabilities 1 | $\overline{a}$ | 10.81 |
| Cash generated from operations | 438.91 | |
| Income tax paid (net) | 517.65 | |
| Net cash generated by operating activities | 438.91 | $-38.40$ 479.25 |
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Regd. Office & Works. Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
| CASH FLOWS FROM INVESTING ACTIVITIES Bank deposits placed Inter-corporate deposits placed Purchase of investments carried at fair value through profit and loss Purchase of investments carried at fair value through OCI Purchase of investments carried at amortised cost Payments to acquire financial assets Purchase of property, plant and equipment $-116.04$ $-214.21$ Right of Use Asset Purchase of intangible assets 4.12 $-4.10$ Purchase of Biological Assets other than bearer plants Purchase of other Investment $-350.00$ $-175.00$ Ear marked deposits placed with banks Bank deposits matured Inter-corporate deposits matured Proceeds from sale of investments carried at fair value through profit and loss Proceeds from sale of investments carried at fair value through OCI 25.00 Proceeds from sale of investments carried at amortised cost Proceeds from sale of financial assets Proceeds from disposal of property, plant and equipment 8.99 Proceeds from disposal of intangible assets Proceeds from ear marked deposits with banks Proceeds from sale of other Investment Loan and Advances(net) Change in other non current assets Dividend received Interest received 4.90 10.55 Net cash (used $\ln$ ) / generated by investing activities $-457.02$ $-348.77$ CASH FLOWS FROM FINANCING ACTIVITIES Repayment of lease liabilities Proceeds from short term borrowings 0.63 $-376.32$ Repayment of shor term borrowings ίä, Proceeds from long term borrowings Repayment of long term borrowings Finance cost $-14.26$ $-28.68$ Dividend paid (including tax on dividend) Issue of Equity Shares Buyback of Equity Shares Issue of Preference Shares Redemption of Preference Shares Other Equity OCI Net cash used in financing activities $-13.63$ $-405.00$ Net increase / (decrease) in cash and cash equivalents $-31.74$ $-274.52$ Cash and cash equivalents at the beginning of the year 641.05 915.57 Exchange gain loss on Cash and cash equivalents Cash and cash equivalents at the end of the year 609.31 641.05 |
||
|---|---|---|
Place: Village Patla, Tal.Bheshan, Dist. Junagadh Dated: 09.11.2023
H. N. VADGAMA CHAIRMAN
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Manufacturers of :
ALL KINDS OF
BEARINGS
Regd. Office & Works.
Patla, Ta. Bhesan, Via Ranpur (Sorath), Post Hadmatiya - 362 030. Dist. Junagadh (India) Phones: (02873) 252223, 252267, 252268 Fax: (02873) 252225 CIN. L27259GJ1978PLC003179 .GSTIN:-24AABCA8189N1Z6
| Consolidated Segment wise Revenue, Results and Capital Employed for the half year ended 30th September, 2023 | |||||||
|---|---|---|---|---|---|---|---|
| SR. NO. |
PARTICULARS | CONSOLIDATED | |||||
| QUARTER ENDED | HALF YEAR ENDED | PREVIOUS YEAR ENDED |
|||||
| 30th September | 30th June | 30th September |
30th September | 30th September |
31st March, | ||
| 2023 | 2023 | 2022 | 2023 | 2022 | 2023 | ||
| 1 | Segment Revenue | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited |
| (a) | Bearing | 2.930.18 | 2,677.58 | 2,957.51 | 5,607.75 | 6,006.94 | 11,244.79 |
| (b) | Wind Turbine Power Generation | 6.53 | 16.89 | 23.83 | 23.42 | 46.38 | 83.70 |
| (c) | Unallocated | ||||||
| TOTAL | 2.936.71 | 2,694.47 | 2,981.34 | 5,631.17 | 6,053.32 | 11.328.49 | |
| Less: Inter Segment Revenue | 6.53 | 16.89 | 23.83 | 23.42 | 46.38 | 83.70 | |
| Net sales/Income From Operations | 2,930.18 | 2,677.58 | 2,957.51 | 5,607.75 | 6.006.94 | 11,244.79 | |
| $\overline{2}$ | Segment Results (Profit)(+)/ Loss (-) before tax | ||||||
| and finance cost from each segment) Bearing |
142.71 | 108.90 | 123.26 | 251.61 | 239.60 | 467.91 | |
| (a) (b) |
Wind Turbine Power Generation | 2.05 | 10.79 | 20.15 | 12.84 | 39.02 | 64.26 |
| (c) | Unallocated | ||||||
| TOTAL | 144.76 | 119.69 | 143.41 | 264.45 | 278.62 | 532.17 | |
| Less: | |||||||
| (i) | Finance cost | 8.58 | 5.68 | 8.09 | 14.26 | 14.01 | 28.68 |
| (iii) | Other Un-allocable Expenditure (Net of Income) | ||||||
| Total Profit / (Loss) Before Tax | 136.18 | 114.01 | 135.32 | 250.19 | 264.61 | 503.49 | |
| 3 | Segment Assets | ||||||
| (a) | Bearing | 9.982.38 | 9.939.62 | 8,621.59 | 9,982.38 | 8,621.59 | 9,975.86 |
| (b) | Wind Turbine Power Generation | 38,80 | 42.67 | 45.35 | 38.80 | 45.35 | 47.80 |
| (c) | Unallocated | 248.87 | 258.68 | 216.82 | 248.87 | 216.82 | 275.80 |
| Total Segment Assets | 10,270.05 | 10,240.97 | 8,883.76 | 10,270.05 | 8,883.76 | 10,299.46 | |
| 4 | Segment Liabilities | ||||||
| (a) | Bearing | 3,944.25 | 4.445.51 | 3,386.80 | 3,944.25 | 3,386.80 | 4,569.50 |
| (b) | Wind Turbine Power Generation | 4.99 | 4.99 | 5.00 | 4.99 | 5.00 | 4.99 |
| (c) | Unallocated | ||||||
| Total Segment Liabilities | 3,949.24 | 4.450.50 | 3.391.80 | 3.949.24 | 3,391.80 | 4,574.49 | |
| Capital Employeed |
Place: Village Patla, Tal.Bheshan, Dist. Junagadh Dated: 09.11.2023
For & on behalf of the Board AUSTIN ENGINEERING COMPANY LIMITED
H N VADGAN CHAIRMA
ISO 9001:2015 IATF 16949:2016 ISO 14001:2015 ISO 45001:2018
Regd. Offlce & Works.
Poilo, To. Bheson, Vio Ronpur (Soroih), Post Hodmoliyq - 362 030. Disl. Junogodh (lndio) Phones : (02873) 252223,252267,252268 Fox | 10287 31252225 ClN. t2 7259GJ I 978PtC0031 79 .GSTIN:-24AABCA8'189N'lZo
NOTES
l
- 1 The above €sults have been reviewed by the Audit Committee and Approved by the Board of Directors of the Company at their meeling held on November 09, 2023. The Statutory Auditors olthe company have caried out a "Limited Review'of the result for lhe quarler and Half Year ended on September 30. 2023.
- 2 The Siatement has been preparcd in accordance with the Companies (lndian Accounting Standards) rules, 201 5 (lnd AS) precribed under Section 1 33 of the Companies Act, 2013 as applicabie and guideiines issued by the Securities and Exchange Board of lndia (SEBI).
- 3 The Consolidated Financial Statsments include results of Subsadiary company, The Name, Oountry of incorpora{on, Proportion of ownership interest and
| Name of the Company | ICountry lof Incorpor ation |
Parent's ultimate Quarter holding as on September 30.2023 |
ends on | |
|---|---|---|---|---|
| Subsidiary · | ||||
| AUSTIN ENGINEERING COMPANY | U.S.A. | 100% | 30th September 2023 |
Th6 Company has two reportable segmenls viz. "Bearing" and "Wind Turbine Power Generatior
- ln accordance wiih Regulation 33 of ihe SEBI (Listing Obligations and Disclosure Requirements) Regulalion, 2015, the above unaudired standalone financial results of the company are posted on Company's website and website of stock exchange viz. www.bseindia.com.
- 6 The Consolidated amount for the quarter ended and HalfYear ended September 30, 2023, as reported in these unaudited consolidated finacial results, have not been subjected to limited revieworaudil by the slalulory auditors of the Company.
- 7 The ligures of lhe previous quarter / half year period / year have been regrouped / re-classiiied / re-aranged, wherever necessary to correspond with the curent pedod's classifi cation/disclosuae./comparable.
prace: Village Patla, Tal.Bheshan, Dist. Junagadh Date: 0911112023
For & on behall of the Board AUSTIN ENGIIICEBING C
L.
ISO 9001:2015 ISO 14001:2015 ISO 45001:2013
J. C. Ranpura & Co.
Chartered Accountants
INDEPENDENT AUDITOR'S LIMITED REVIEW REPORT ON THE QUARTERLY UNAUDITED STANDALONE IND AS FINANCIAL RESULTS OF THE COMPANY PURSUANT TO THE REGULATION 33 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AS AMENDED.
LIMITED REVIEW REPORT
To. The Board of Directors, AUSTIN ENGINEERING COMPANY LIMITED. Village: Patla, Taluka: Bhesan. Dist. Junagadh, Junagadh.
We have reviewed the accompanying statement of unaudited financial results of M/s. AUSTIN ENGINEERING COMPANY LIMITED, Junagadh for the period ended 30 September 2023. 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 applied to financial data and thus provide 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 financial results prepared in accordance with applicable Indian 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.
Our conclusion is not modified in respect of this matter.
Place: Rajkot Date: 09.11.2023
For J C Ranpura & Co. Chartered Accountants FRN: 108647W Ranpura ...................................... .
80,
. 2.5.4.20=3ed83701fde5902638b79192e337b0c3fc Mehul d0067e1b166e6586fee8f55fedeb08 d006/e1b166e6586ree8r55redebu8,
postalCode=360001, st=Gujarat,
serialNumber=ef379b8bb8c4f0cc29250e5
ec3e2d7d40d1b4ac34df00d1832e3fa5e1, New Onte and Development Manufacturity of the Manufacturity of the Manufacturity of the AMERICA Partner Membership No. 128453
UDIN: 23128453BGRRIR5038
Star Avenue, First Floor, Dr. Radhakrishnan Road, Opp. Rajkumar College, Rajkot - 360 001. Phone: +91 - 281 - 2480035 to 37, Fax: +91 - 281 - 2480034 | Email: [email protected] | web: www.jcranpura.com
J. C. Ranpura & Co.
Chartered Accountants
INDEPENDENT AUDITOR'S LIMITED REVIEW REPORT ON THE SECOND QUARTER ENDED UNAUDITED CONSOLIDATED IND AS FINANCIAL RESULTS OF THE COMPANY PURSUANT TO THE REGULATION 33 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AS AMENDED.
LIMITED REVIEW REPORT
To. The Board of Directors of AUSTIN ENGINEERING COMPANY LIMITED. Village: Patla, Taluka: Bhesan, Dist. JUNAGADH.
- We have reviewed the accompanying Statement of unaudited Consolidated Ind AS $\mathbf{1}$ Financial Results (the "statement") of M/s. AUSTIN ENGINEERING COMPANY LIMITED, Junagadh (the "Parent") comprising its one subsidiary (together, 'the Group') for the second quarter ended 30th September, 2023 (the "statement") attached herewith, being submitted by the Parent to the stock exchange BSE pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ('the Listing Regulations') read with SEBI Circular No. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/0000000103 dated July 29, 2022 (the "Circular"). (the "Circular"). Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended September 30, 2022, and last quarter ended June 30, 2023 as reported in these unaudited consolidated Ind AS financial results have been approved by the Parent's Board of Directors but have not been subjected to review.
- This Statement, which is the responsibility of the Parent's Management and have 2 been approved by the Parent's Board of Directors in their meeting held on 09 November, 2023 has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 ('Ind AS 34') "Interim Financial Reporting" prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other accounting principles generally accepted in India read with the Circular. 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 3 Review Engagement (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of Entity, (the "Standard") 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 the 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.
J. C. Ranpura & Co.
Chartered Accountants
- We also performed procedures in accordance with the Circular issued by the $\overline{4}$ Securities and Exchange Board of India Under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended to the extent applicable.
- The Statement includes the results of one foreign subsidiary company viz AUSTIN 5 ENGINEERING COMPANY - U.S.A. (Formerly known as Accurate Engineering Inc - $U.S.A.$ ).
- Based on our review conducted and procedures performed as stated in paragraph 3 6 above and based on the consideration of the unaudited financial statements of subsidiary company referred to in paragraph 5 above, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited financial result prepared in accordance with recognition and measurement principles laid down in aforesaid Indian Accounting Standards, 34 "Interim Financial Reporting" ("Ind AS 34") prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other accounting principles generally accepted in India and policies has not disclosed the information required to be disclosed in terms of the Regulation read with the Circular including the manner in which it is to be disclosed, or that it contains any material misstatement.
- The accompanying unaudited consolidated Ind AS financial results includes unaudited $\overline{7}$ Ind AS financial results and other unaudited Ind AS financial information in respect of one foreign subsidiary, which have not been reviewed by Auditors, whose Ind AS financial results reflect total revenues of ₹. 22,20,93,207/- and net profit after tax (including other comprehensive income) of $\overline{\xi}$ . 23,55,638/- for the second quarter ended 30th September 2023 as considered in the unaudited consolidated Ind AS financial result. The unaudited Ind AS financial results and other unaudited Ind AS financial information have been furnished to us by the management. Our opinion, in so far as it related to the affairs of this subsidiary, is based solely on such unaudited Ind AS financial results and other unaudited Ind AS financial information. In our opinion and according to the information and the explanations given to us by the Management, these Ind AS financial results and other financial information are not material to the Group. Our opinion is not modified in respect of this matter.
- Our opinion is not modified in respect of this matter. 8
For J C Ranpura & Co. Chartered Accountants FRN: 108647W
Ranpura Mehul Jashvant
Mehul J. Ranpura Partner Membership No. 128453 UDIN: 23128453BGRRIQ9786
Place: Rajkot Date: 09.11.2023