Foseco India Ltd — Interim / Quarterly Report 2023

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FOSECO

November 10, 2023

BSE Limited National Stock Exchange of India Limited Listing Department, Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5[th ] Floor, Dalal Street, Plot No. C/1, G Block, Mumbai 400 001 ', Sandra Kurla Complex, Sandra (East), Mumbai-400 051

Dear Sirs,

Sub: 1. Unaudited Financial Results for the quarter and nine months ended September 30, 2023

2. Submission of the Limited Review Report of the Statutory Auditors

Ref: BSE Scrip Code: 500150, NSE Symbol: FOSECOIND, ISIN: INE519A01011

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we write to advice that the Board of Directors of the Company at its Meeting held today, i.e., November 10, 2023 has approved the Unaudited Financial Results of the Company for the quarter and nine months ended September 30, 2023.

In this regard, we are submitting herewith the following documents:-

• 1) The Unaudited Financial Results of the Company for the above period; and

• 2) The Limited Review Report of the Statutory Auditors on the Financial Results.

The Meeting of the Board of Directors commenced at 1605 hours and concluded at 1900 hours.

You are requested to take the above information on record.

Thanking you,

Yours faithfully, For FOSECO INDIA LIMITED

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• '

Mahendra Kumar Dutia Controller of Accounts and Company Secretary

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Enclosing: as above

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Foseco is a brand af the Vesuvius Gro4p. Foseco India L1m1ted Gat r�os 922 �' 923, SanasvvJd', Ta[i] 1il.a Sh1r1ir, D1stm P_1ne 412 208. r�aharashtra (lrJDIA) Tel +9[1 ] (0) 2137 668100 ;' Fax· +91 (0) 2137 668150 I vvww.vesuv1us.com/www.fosecoindia.com /cir�.L24294P�l1958PLC011052

FOSECO

Foseco India Limited

Registered Office: Gal Nos. 922 & 923, Sanaswadi, Taluka Shirur, Oislrid Pune - 412208 Tele: -tll1 2137 668100, Fax: +91 2137 668160 Website: www.rosecoindia corn, E-mail ID: [email protected] Corporate Identity Number. l24294PN195BPLC011052

Statement of unaudited resutts for the quarter and 9 months ended September 30, 202J

NOTES:

1 The 113SUlls have been reviewed by lhe Audit CommiNee and approved by the Company's Board of Directors at their respective meetings held on No'llember 10, 2023, The Slatuto,y Auditors have conduded a limi1ed review or the financial resul1s for the quarter ended September 30, 2023 and have issued an unmodified opinion�

• 2 The Company has only one repor1able segment, metallurgical produds and services, in accordance Vw'ith Ind AS 108 - "Operating Segmen1s�. notified pursuant lo the Companies (Indian Accounling Standards) Rules, 2015.

On 19th April 2023, the Company surrendered the lease-hold land situated al Akurdi, Chinchwad, Pune together with lhe structure standing thereon on �as is where is· basis as regards the physical attnbules thereof, lo Greaves Cotton Limited ("the Lessor, and terminated the leases against a consideration of Rs. 1,200 lakhs plus applicable taxes. The profit on the .surrender of the said lease is Rs 1, 14S.50 L.akhs The same is disclosed under the excepticnal item above

In continuation of the cyber security inciden1 reported by the Company in the ear1ier periods, we report thal the Company has assessed the said incident assisted by leading cyber security experts Based on the finding.s of 1he cy�r security experts, we conclude 1ha1 all our·systems across various functions are working normalty, wi1h no asse.s ed impad on lhe financial performancE1 of the Company for lhe quar1er and nine months ended September JO, 2023. On review of the da1a affecied by lhe incident, we cxmfirm that no material breaches or loss of relevan1 da1a or documenls have been identified

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5 Previcus period figures have been redassified, ·wtierevet currem period's dassificalion.
Date :101h November, 2023
Place: Pune
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Price Waterhouse Chartered Accountants LLP

Review Report

To

The Board of Directors Foseco India Limited Gat Nos. 922 and 923, Sanaswadi, Shirur Taluka, Pune - 412208 Maharashtra, India

1. We have reviewed the unaudited financial results of Foseco India Limited (the "Company") for the quarter ended September 30, 2023 and the year to date results for the period January 01, 2023 to September 30, 2023 , which are included in the accompanying 'Statement of unaudited results for the quarter and 9 months ended September 30, 2023' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes.

2. This Statement, which is the responsibility of the Company's Management and approved by the 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.

3. 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 Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016

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Amit Borkar Partner Membership Number : 109846

UDIN : 23109846BGYFNT3362 Place of the Signature: Pune Date: November 10, 2023

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Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/NS00016 (ICAI registration number before conversion was 012754N)