Kalyani Forge Limited KOREGAON BHIMA 412 216, TEHSIL SIRUR DIST. PUNE.

:(02137) 252335, 252755, 252757 FAX: (02137) 252344 /252756. www.kalyaniforge.co.in

KFL/SEC/BM/2021-22 JUNE 10, 2021

To, To, Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai-400 001 Scrip Code: 513509

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Bandra (E), Mumbai -400 051 Symbol: KALYANIFRG

Sub: Outcome of Board Meeting

Dear Sir,

Please find the enclosed herewith Audited Financial Result for quarter & year ended 31t" March 2021 along with Audit report reviewed by Audit Committee and approved by Board of Directors at their Meeting held on 10th June, 2021.

Kindly take the information on records and oblige.

Thanking you, For Kalyani Forge Limited

Rohan Deshpande Company Secretary & Compliance Officer UNES

REGD OFFICE: Shangrila Gardens, 1st Floor, 'C Wing., Opp. Bund Garden, Pune: 411001 CIN: L28910MH1979PLCo20959

Kalyani Forge Limited KOREGAON BHIMA, -412 216, TEHSAL SIRUR DIST. PUNE.

:(02137)252335,25275, 252757 FAX: (02137) 252344/252756. www.kalyaniforge.co.in KLYAN

To

BOMBAY STOCK EXCHANGE LIMITED, Phiroze Jeejeebhoy Tower, Dalal Street, Fort, Mumbai-400001 Bandra (E), Scrip Code: 513509 Mumbai-400051

NATIONAL STOCK EXCHANGE OF INDIA LIMITED, Exchange Plaza, Bandra Kurla Complex, Symbol: KALYANIFRG

Scrip Code: 513509 sUB: Outcome of Board Meeting held on 10.06.2021

Pursuant to Regulation 30 we wish to intimate your esteemed exchange that the Board of Directors of the Kalyani Forge Limited in its meeting commenced at 4.15 p.m. and concluded at 6.15 p.m. has approved the following:

a. As required under Regulation 33 (3) (a) of SEBI (Listing Obligation & Disclosure Requirements) Regulations 2015 please find enclosed herewith Audited Financial Result for quarter & year ended 31s* March 2021 along with Audit report of Statutory Auditors.

The aforesaid result, duly reviewed by the Audit Committee have been approved and taken on record together with Audit report by Board of Directors at its meeting which commenced at 04.15 p.m. and concluded at 6.15 p.m.

• b. The Board of Directors has recommended dividend for the current year of Rs. 1.50 per equity share i.e. 15% per share (nominal value Rs. 10/- per equity share) subject to approval of members at the ensuing Annual General Meeting of the Company.
• C. The Board has recommended the re-appointment of M/s. K.S. Aiyar; Chartered Accountants, Mumbai as Statutory Auditors of the Company for a 2d term subject to approval of shareholders in the ensuing Annual General Meeting for a period of 5 years from the conclusion ensuing annual general meeting till the conclusion of annual general meeting to be held in the year 2026.
• d. The Board has appointed M/s R CK & Co., Cost Accountants (Firm Registration No. 002587), Mr. Rahul Chincholkar, Partner (F- 27063), Cost Accountant as Cost Auditors of the Company for financial year 2021-22 subject to approval of remuneration by shareholders in the ensuing Annual General Meeting.

ORG REGD OFFICE: Shangrila Gardens, 1st Floor, 'C Wing, Opp. Bund Garden, Pune: 411001 CIN: L28910MH1979PLCO20959

• .The Board of Directors has appointed CS Nitin Prabhune; Practising Company Sacretarles as a Secretarial Auditor of the Company for the financlal year 2021-22.
• . The Board of Directors has appointed M/s. C. S. Adawadkar & Co., Cost Accountants (having Firm Registratlon No. 100401 respectively) and Mr. Harsad Joshi, Chartered Accountant as Internal Audltors of the Company for the financlal year 2021-22.

Thanking you, Yours Falthfully, For Kalyanl Forge Limited

Rohan Deshpande Company Secretary&

Date: 10/06/2021 Place: Pune,

REGD OFFICE: Shangrila Gardens, 1st Floor, 'C' Wing, Opp. Bund Garden, Pune: 411001 CIN: 12891OMH1979PLCco20959

KALYANI FORGE LIMITED

Neyd oMee hangrila Gerdene, "g" Wing at Flear, Oyp Aund aarden, Pune 411 001 MALYAN GIN L910MIHIBPL CO096y

T jep4p Ue po0d A0OAEDIJED OOMPANY

Autdled Finanelal Naaulls For me Yuar Fnded Marvh a1, 2091

Notea to Pinanclal Reaul This statement has bean prepared In accordence with the Companios (Indarn Accounting Btandurds) Rules, 201b (nd A8) preacribed under Bection 133 ot the Companien Acl, 2013 and olher rocognibed accounlirng praclicoe and policlos lo the oxteritl applicable

1he abovo resulta for the quarlor and yoat andod Marcn 31, 2021 have beon oviawod by the Audit Commiltou and wero laken on racord by the Board of Drectors ol te moeling held on 10th June, 2021

The COViD 10 pandemia has slgnificantly dierupted business operallons globally and has Created a high level of econamic uncertainly The rosulle of the Compy tor tha quarter & poriod ended J1 03 2021 havo boen impacled bollh on accournt continuirng parndemio siluallon and tho garieral alowdow In the aulormobllo aectlor 1he mainagoment has ovalualod various buainone I1uka faced by the Company lncuding liquidity erid solvonoy risks alid ls confidernt that Companya abilily to continue an a going concarn ls not impaited by tho pandermlc.

The Company opsrales in a bingla ngmant, i, Forging. fhence eopalale sogment Informatior1 ls not givor

The fgures for the quarter March, 3 1 2021 ara tho balarncing iguroe betwaen tve audiled figurou in roupect ol current funaricial yonr & tho roviewod yaar 6 lo dale figures upto the 3rd quarter of the current Iinanoial yoar

Pruviaua quarter'a / yoara figuwes hava beon regrouped I rearranged wthsgyot naceasary

Execullve Chelrporeon

Auditor's Report on Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To, The Board of Directors of Kalyani Forge Limited,

Opinion

We have audited the accompanying statement of financial results of Kalyani Forge Limited ('the Company') for the quarter and year ended March 31, 2021 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ("the Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the statement:

• a. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
• b. gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net loss and total comprehensive income and other financial information of the Company for the three months ended March 31, 2021 as well as for the year to date results from April 01, 2020 to March 31, 2021.

Basis of Opinion

We conducted our audit of the Statement in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's 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 ("ICAI") together with the ethical requirements that are relevant to our audit of the Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of Matter

Attention is drawn to Note No. 3 which gives management assessment of Company's ability to continue as going concern as at March 31, 2021 in view of the likely economic impact on the business of the Company arising out of Covid19 pandemic.

Our opinion is not modified in respect of this matter

Management's Responsibilities for the Financial Results

This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been compiled from the audited financial statements for the year ended March 31, 2021. The Company's Board of Directors are responsible for the preparation and presentation of the Financial Results that give a true and fair view of the net loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Ind AS, 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 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 the 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 is 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 financial reporting process of the Company.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the Financial Results as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's 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 this Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the 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. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the financial statements on whether the entity has adequate internal financial controls with reference to financial statements in place and the operating 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 Financial Results, including the disclosures, and whether the Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

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 Matter

The Financial Results include the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the current financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

Satish Kelkar Partner

Place: Mumbai Membership No: 38934 Date: June 10, 2021 UDIN No. 21038934AAAACI4172

DECLARATION

In terms of regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended by SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016, read with SEBI circular no. CIR/CFD/CMD/56/2016 dated May 27, 2016, we hereby declare that M/s K. S. Aiyar & Co., Chartered Accountants ( FRN :100186W), the Statutory Auditors of the Company have issued an Audit Report with unmodified opinion on the audited financial results of the Company for the year ended on 31 March 2021.

For KALYANI FORGE LIMTED

Mrs. Rohini G. Kalyani Executive Chairperson DIN: 00519565