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Modern Insulators Ltd. Interim / Quarterly Report 2024
60700_rns_2024-11-13_d30e0f5f-1d4f-4786-8479-8257658d8d63.pdf
Interim / Quarterly Report
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Registered Office & Works : Talheti, Village : Karoli, Tehsil: Abu Road, Dist : Sirohi - 307510 ( Rajasthan ) India Phone : 02974 – 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLC002460 Email : [email protected]
Date: November 13, 2024
BSE Limited Compliance Department, P.J. Towers, Dalal Street, Mumbai 400 00l.
Scrip Code: 515008
Sub: - Unaudited Financial Results for the quarter and half year ended 30th September, 2024
Dear Sir/Madam,
This is to inform you that in term of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose a copy of the Unaudited Financial Results along with the Limited Review Report for the quarter and half year ended 30th September, 2024 which was approved by the Board of Directors in the meeting held today i.e. 13th November, 2024.
Thanking you
Yours Faithfully
For Modern Insulators Limited
PRADEEP KUMAR GOKHROO Digitally signed by PRADEEP KUMAR GOKHROO Date: 2024.11.13 20:20:27 +05'30'
P.K. Gokhroo Director DIN: 06810797
independent Auditor's Limited Review Report on Unaudited Standalone Quarterly and Half Yearly Financial Results
To The Board of Directors Modern Insulators Limited
- $1.$ We have reviewed the accompanying statement of unaudited standalone financial results ("the Statement") of Modern Insulators Limited ("the Company") for the quarter and half year ended 30 September 2024 being prepared and submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- $2.$ This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) prescribed under section 133 of the Companies Act, 2013. Our responsibility is to issue a report on the Statement based on our review.
- $3.$ We conducted our review of the Statement in accordance with the Standard on Review Engagement (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 procedures to financial data and thus provides less assurance than an audit. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act 2013 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.
Basis for qualified report 4.
Provision for taxation including interest estimated at Rs.655.18 lacs and Rs.1089.72 lacs for the quarter and half year ended 30 September 2024 respectively (upto the half year ended 30 September 2024 Rs.11018.74 lacs; upto the previous year ended 31 March 2024 Rs.9929.02 lacs) has not been made in accounts in view of the proposed amalgamation under the provisions of Companies Act, 2013 (Refer note no. 4).
- Based on our review conducted as stated in paragraph 3 above, except for the effects of the matter described in paragraph 4 above, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited standalone financial results read with notes thereon, prepared in accordance with applicable Indian Accounting Standards (Ind AS) and other recognized accounting practices and policies generally accepted in India, has not disclosed the information, required to be disclosed in terms of Regulation 33 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.
For R B Verma & Associates Chartered Accountants $8As$ Firm Registration No.012650C (Rajesh Partner Membership No.404029
Place - Abu Road Date - 13 November 2024 UDIN-24404029BKHHYV4149
Registered Office & Works : Talheti, Village : Karoli, Tehsil: Abu Road, Dist.: Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN-L31300RJ1982PLC002460 Email: [email protected]
Unaudited Standalone Financial Results for the Quarter and Half Year Ended 30th September, 2024
| Unaudited Standalone Financial Results for the Quarter and Fiam Team $($ ₹ in Lacs) |
||||||||
|---|---|---|---|---|---|---|---|---|
| S. | Particulars | Half Year Ended Ouarter Ended |
||||||
| No. | 30.09.2024 | 30.06.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | 31.03.2024 | ||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |||
| $\mathbf{1}$ | Income from Operations | |||||||
| (a) Revenue from Operations | 11491.69 | 10382.45 | 10618.75 | 21874.14 | 19593.88 | 44329.33 | ||
| (b) Other Income | 502.44 | 567.44 | 306.13 | 1069.88 | 568.14 | 1183.15 | ||
| Total Revenue | 11994.13 | 10949.89 | 10924.88 | 22944.02 | 20162.02 | 45512.48 | ||
| $\overline{2}$ | Expenses | |||||||
| (a) Cost of materials consumed | 4070.85 | 3521.02 | 3307.89 | 7591.87 | 6449.73 | 13384.92 | ||
| (b) Purchase of stock in trade | 11.90 | 6.90 | 3.20 | 18.80 | 18.21 | 55.98 | ||
| (c) Changes in inventories of finished goods, stock-in-trade & | (902.98) | (536.84) | 283.88 | (1439.82) | (466.88) | 765.22 | ||
| Stock-in-Progress | ||||||||
| (d) Employee benefits expense | 1927.31 | 1803.75 | 1796.90 | 3731.06 | 3655.68 | 7249.36 340.58 |
||
| (e) Finance cost | 93.76 | 111.92 | 60.94 | 205.68 | 193.37 429.22 |
861.80 | ||
| (f) Depreciation and amortisation expense | 212.86 | 207.93 | 215.33 | 420.79 11009.93 |
8956.86 | 19346.20 | ||
| (g) Other Expenses | 5893.93 11307.63 |
5116.00 10230.68 |
4679.42 10347.56 |
21538.31 | 19236.19 | 42004.06 | ||
| Total Expenses | 686.50 | 719.21 | 577.32 | 1405.71 | 925.83 | 3508.42 | ||
| 3 | Profit before exceptional items & tax (1-2) | 541.60 | 70.73 | 612.33 | ||||
| $\overline{4}$ | Exceptional Items (Interest on earlier years income tax | |||||||
| refunds) | 1228.10 | 789.94 | 577.32 | 2018.04 | 925.83 | 3508.42 | ||
| 5 | Profit before tax (3-4) Tax expense |
|||||||
| 6 | Current tax | $\overline{\phantom{a}}$ | ||||||
| Deferred tax | (81.73) | 10.21 | (38.76) | (71.52) | (85.76) | (140.71) | ||
| (81.73) | 10.21 | (38.76) | (71.52) | (85.76) | (140.71) | |||
| 7 | Profit for the period (5-6) | 1309.83 | 779.73 | 616.08 | 2089.56 | 1011.59 | 3649.13 | |
| 8 | Other Comprehensive Income | (6.52) | ||||||
| (i) Items that will not be reclassified to profit or loss | (0.98) | (1.47) | (0.15) | (2.45) | 0.60 | 2.28 | ||
| (ii) Income tax relating to above (i) | 0.35 | 0.51 | 0.05 (0.10) |
0.86 (1.59) |
(0.21) 0.39 |
(4.24) | ||
| Other Comprehensive Income for the period | (0.63) | (0.96) | ||||||
| 9 | Total Comprehensive Income (7+8) | 1309.20 | 778.77 | 615.98 | 2087.97 | 1011.98 | 3644.89 | |
| 4714.39 | 4714.39 | |||||||
| 10 Paid up equity share capital (face value of ₹10/- each) | 4714.39 | 4714.39 | 4714.39 | 4714.39 | ||||
| 11 Earning per share | ||||||||
| Basic | 2.78 | 1.65 | 1.31 | 4.43 | 2.15 | 7.74 | ||
| Diluted | 2.78 | 1.65 | 1.31 | 4.43 | 2.15 | 7.74 | ||
Registered Office & Works : Talheti, Village : Karoli, Tehsil : Abu Road, Dist. : Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN-L31300RJ1982PLC002460 Email: [email protected]
Unaudited Standalone Segment Information for the Quarter and Half Year Ended 30th September, 2024
| $(5 \in \text{In}$ Lacs) | |||||||
|---|---|---|---|---|---|---|---|
| S. | Particulars | Ouarter Ended | Half Year Ended | Year Ended | |||
| No. | 30.09.2024 | 30.06.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | 31.03.2024 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| $\mathbf{1}$ | Segment Revenue | ||||||
| (a) Insulators | 9913.70 | 9049.20 | 9319.43 | 18962.90 | 17303.65 | 39704.19 | |
| Terry Towels (b) |
1577.99 | 1333.25 | 1299.32 | 2911.24 | 2290.23 | 4625.14 | |
| Total Operating Income | 11491.69 | 10382.45 | 10618.75 | 21874.14 | 19593.88 | 44329.33 | |
| Segment Results Profit before finance cost and Tax | |||||||
| (a) Insulators | 1322.46 | 995.39 | 688.90 | 2317.85 | 1323.27 | 3799.79 | |
| (b) Terry Towels | (0.60) | (93.53) | (50.64) | (94.13) | (204.07) | 49.21 | |
| Total | 1321.86 | 901.86 | 638.26 | 2223.72 | 1119.20 | 3849.00 | |
| Less: Finance Cost | 93.76 | 111.92 | 60.94 | 205.68 | 193.37 | 340.58 | |
| Total Profit before tax | 1228.10 | 789.94 | 577.32 | 2018.04 | 925.83 | 3508.42 | |
| 3 | Segment assets | ||||||
| (a) Insulators | 47153.14 | 46671.27 | 43060.19 | 47153.14 | 43060.19 | 46459.47 | |
| (b) Terry Towels | 9521.23 | 8889.24 | 7894.54 | 9521.23 | 7894.54 | 8965.03 | |
| Total | 56674.37 | 55560.51 | 50954.73 | 56674.37 | 50954.73 | 55424.50 | |
| Segment Liabilities | |||||||
| (a) Insulators | 10851.60 | 11305.53 | 10240.20 | 10851.60 | 10240.20 | 12067.53 | |
| (b) Terry Towels | 1045.46 | 786.87 | 658.10 | 1045.46 | 658.10 | 667.63 | |
| Total | 11897.06 | 12092.40 | 10898.30 | 11897.06 | 10898.30 | 12735.16 |
msul 30751
Registered Office & Works : Talheti, Village : Karoli, Tehsil : Abu Road, Dist. : Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLC002460 Email: [email protected]
$\gamma$
| Unaudited Standalone balance sheet as at some september, | (₹ in Lacs) | |
|---|---|---|
| Particulars | As at 30th | As at 31st |
| September, 2024 | March, 2024 | |
| (Unaudited) | (Audited) | |
| ASSETS | ||
| Non-current assets | 15750.82 | 16046.24 |
| Property, Plant & Equipment | 152.14 | |
| Capital work-in-progress | 15.32 | 14.00 |
| Intangible assets | ||
| Financial Assets | 500.01 | 500.01 |
| (i) Investments | 6794.00 | 6374.00 |
| (ii) Loans | 1034.65 | 985.77 |
| (iii) Other Financial Assets | 250.00 | 250.00 |
| Other non-current assets | 24496.94 | 24170.02 |
| Total Non-current assets | ||
| Current assets | 11920.13 | 10563.29 |
| Inventories | ||
| Financial Assets | 9575.97 | 11293.23 |
| (i) Trade Receivables | 708.94 | 422.85 |
| (ii) Cash and Cash Equivalents | 578.12 | 376.41 |
| (iii) Bank balances other than cash and cash equivalents | 3562.73 | 1,881.00 |
| (iv)Investments | 915.99 | 282.30 |
| (v) Loans | 400.71 | 429.97 |
| (vi) Other Financial Assets | 4514.84 | 6005.43 |
| Other current assets Total Current assets |
32177.43 | 31254.48 |
| TOTAL ASSETS | 56674.37 | 55424.50 |
| EQUITY AND LIABILITIES | ||
| EQUITY | ||
| Equity Share Capital | 4714.39 | 4714.39 |
| Other Equity | 40062.92 | 37974.95 |
| Total Equity | 44777.31 | 42689.34 |
| Non-current liabilities | ||
| Financial Liabilities | 17.21 | |
| Borrowings | 13.38 | |
| Provisions | 2315.33 | 2376.87 |
| Deferred Tax Liabilities (Net) | 2155.75 | 2228.13 |
| Other non-current liabilities | 20.85 | 24.90 |
| Total Non Current liabilities | 4505.31 | 4647.11 |
| Current Liabilities | ||
| Financial Liabilities | ||
| (i) Borrowings | 502.86 | 1896.79 |
| (ii) Trade Payables | ||
| - Total outstanding dues of micro, small and medium enterprises | 389.77 | 330.54 |
| - Total outstanding dues of creditors other than micro, small and medium enterprises | 3094.19 | 2993.77 |
| (iii) Other Financial Liabilities | 2090.16 | 1784.00 |
| Provisions | 499.82 | 497.20 |
| Other Current Liabilities | 814.95 | 585.75 |
| Total Current Liabilities | 7391.75 | 8088.05 |
| TOTAL EQUITY AND LIABILITIES | 56674.37 | 55424.50 |
| 14pu rs |
Polance Sheet as at 30th September, 2024 $\sim$
Registered Office & Works : Talheti, Village : Karoli, Tehsil : Abu Road, Dist. : Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN-L31300RJ1982PLC002460 Email: [email protected]
UNAUDITED STANDALONE CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2024
| (₹ in Lacs) | ||||
|---|---|---|---|---|
| PARTICULARS | Half year ended 30th September, 2024 (Unaudited) |
Half year ended 30th September, 2023 (Unaudited) |
||
| A. Cash Flow from Operating Activities | 2018.04 | 925.83 | ||
| Profit before tax | ||||
| Adjustments for: | 420.79 | 429.22 | ||
| -Depreciation and amortisation expenses | (61.37) | 1.92 | ||
| -Provisions | 66.15 | 24.78 | ||
| -Foreign exchange -Loss/(Profit) on disposal of property, plant and equipment |
8.14 | (4.86) | ||
| -Finance costs | 205.68 | 193.37 | ||
| -Loss/(Profit) on fair valuation of investment carried at FVTPL | (340.21) | (70.81) | ||
| -Interest income | (110.00) | 189.18 | (53.70) | 519.92 |
| Operating profit before working capital changes Adjustment for |
2207.22 | 1445.75 | ||
| -Trade and other receivables | 2920.37 | 263.95 | ||
| -Inventories | (1356.84) | (669.93) | ||
| -Trade and other Payables | 690.96 | 2254.49 | (19.83) | (425.81) |
| Net Cash from Operating Activities (A) | 4461.71 | 1019.94 | ||
| B. Cash Flow from Investing Activities | ||||
| -Proceeds from sale of property, plant and equipment | 132.92 | 33.04 | ||
| -Purchase of property, plant and equipment(including capital work-in progress) |
(419.89) | (131.65) | ||
| -Loans and advances given (net) | (1053.69) | (52.17) | ||
| -Interest Income received | 110.00 | 53.70 | ||
| -Investment in Equity shares (net) | (1341.52) | (192.50) | ||
| Net Cash used in Investing Activities (B) | (2572.18) | (289.58) | ||
| C. Cash Flow from Financing Activities | ||||
| -Proceeds/(Repayment) of Long term borrowings (net) | (4.05) | (13.99) | ||
| -Proceeds/(Repayment) of Short term borrowings (net) | (1393.71) | (416.70) | ||
| -Interest Paid | (205.68) | (193.37) | ||
| Net cash used in Financing Activities (C) | (1603.44) | (624.06) | ||
| Net increase in cash and cash equivalents $(A+B+C)$ | 286.09 | 106.30 | ||
| Cash and cash equivalents at the beginning | 422.85 | 118.74 | ||
| Cash and cash equivalents at the close | 708.94 | 225.04 | ||
Registered Office & Works : Talheti, Village : Karoli, Tehsil : Abu Road, Dist. : Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLC002460 Email: [email protected]
Notes:
-
- The above unaudited financial results have been reviewed by the audit committee and approved by the Board of Directors at their respective meeting held on 13th November, 2024.
- Company has given interest free unsecured loan Rs. 6794 lacs (previous year Rs. 6374 lacs) (maximum amount outstanding at any time during the quarter Rs. 6794 lacs) to a company covered under section 189 of the Companies Act, 2013 in view of proposed amalgamation under the provisions of $2.$ Companies Act, 2013. Since the amount paid is in connection to proposed amalgamation, no terms have been specified for the repayment of loan and interest. In view of the likely advantage to the Company on such amalgamation, granting of such loan is not prejudicial to the interest of the Company.
-
- Company has granted interest free unsecured loan Rs. 670 lacs to its wholly owned subsidiary company for its normal business requirements and the same has been utilised for that purpose.
-
- Provision for taxation including interest estimated at Rs. 655.18 lacs and Rs. 1089.72 Lacs for the quarter & half year ended 30th September, 2024 respectively (upto the half year Rs. 11018.74 lacs; upto the previous year Rs. 9929.02 lacs) has not been made in accounts in view of the proposed amalgamation under the provisions of Companies Act, 2013.
-
- Figures for previous periods have been regrouped or rearranged wherever necessary to make them comparable with the current period's classification.
Place: Abu Road Date: 13th November, 2024 For and on behalf of the Board of Directors MODERN INSULATORS LIMITED
um
P.K.Gokhroo (Executive Director) DIN: 06810797
R B Verma & Associates Chartered Accountants
Independent Auditor's Limited Review Report on Unaudited Consolidated Quarterly and Half Yearly Financial Results
To The Board of Directors Modern Insulators Limited
- We have reviewed the accompanying statement of unaudited consolidated financial results ("the Statement") 1. of Modern Insulators Limited ("the Holding Company") and its subsidiary (the Holding Company and its subsidiary together referred to as 'the Group') and its joint ventures for the quarter and half year ended 30 September 2024 being prepared and submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- $\overline{2}$ . This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) prescribed under section 133 of the Companies Act, 2013. Our responsibility is to issue a report on the Statement based on our review.
- $3.$ We conducted our review in accordance with the Standard on Review Engagement (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 procedures to financial data and thus provides less assurance than an audit. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act 2013 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.
- The Statement include the financial results / information of the following other entities: $4.$ (i) Modern Composite Private Limited (wholly owned subsidiary company) (ii) Shriji Designs - MIL JV (joint venture) (iii) SEC MIL JV (joint venture)
5. Basis for qualified report
Provision for taxation including interest estimated at Rs.655.18 lacs and Rs.1089.72 lacs for the quarter and half year ended 30 September 2024 respectively (upto the half year ended 30 September 2024 Rs.11018.74 lacs; upto the previous year ended 31 March 2024 Rs.9929.02 lacs) has not been made in accounts of Holding Company in view of the proposed amalgamation under the provisions of Companies Act, 2013 (Refer note no. 4).
6. Other matters
The Statement includes the interim financial results / financial information of one subsidiary company and two joint ventures, which has not been reviewed by their auditors, whose financial results / information (before eliminating intercompany balances/transactions) reflects total assets of Rs.1823.98 lacs as at 30 September 2024, total revenue of Rs.20.71 lacs and net loss after tax Rs.27.71 lacs for the half year ended 30 September 2024, as considered in the financial results. These interim financial statements has been furnished to us by the Holding Company's Board of Directors, and our opinion, in so far as it relates to the amounts and disclosures included in respect of the subsidiary company and joint ventures, is based solely on such unreviewed interim financial results / information. According to the information and explanations given to us by the Holding Company's Board of Directors, these interim financial statements are not material to the Group.
R B Verma & Associates Chartered Accountants
- Based on our review conducted as stated in paragraph 3 above, except for the effects of the matter described in paragraph 5 above, and based on the consideration of the unreviewed financial results / information referred to in paragraph 6 above, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited consolidated financial results read with notes thereon, prepared in accordance with applicable Indian Accounting Standards (Ind AS) and other recognized accounting practices and policies generally accepted in India, has not disclosed the information, required to be disclosed in terms of Regulation 33 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.
For R B Verma & Associates Chartered Accountants $\lambda$ $\Delta$ Firm Registration No.012650C (Rajesh Verma) JAIPUR Partner Membership No.404029
Place - Abu Road Date - 13 November 2024 UDIN-29404029BKHHYU5346
Registered Office & Works : Talheti, Village : Karoli, Tehsil : Abu Road, Dist. : Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLC002460 Email: [email protected]
| Unaudited Consolidated Financial Results for the Quarter and Half Year Ended 30th September, 2024 | |
|---|---|
| -- | --------------------------------------------------------------------------------------------------- |
| $(s)$ in Lacs) | |||||||
|---|---|---|---|---|---|---|---|
| Quarter Ended | Half Year Ended | Year Ended | |||||
| S. | Particulars | 30.09.2024 | 30.06.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | 31.03.2024 |
| No. | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||
| (Unaudited) | (Audited) | ||||||
| $\mathbf{1}$ | Income from Operations | ||||||
| (a) Revenue from Operations | 11492.14 | 10380.88 | 10618.75 | 21873.02 | 19593.88 | 44330.04 | |
| (b) Other Income | 498.09 | 558.33 | 304.58 | 1056.42 | 552.74 | 1143.30 | |
| Total Revenue | 11990.23 | 10939.21 | 10923.33 | 22929.44 | 20146.62 | 45473.34 | |
| $\overline{2}$ | Expenses | ||||||
| (a) Cost of materials consumed | 4071.25 | 3521.09 | 3307.89 | 7592.34 | 6449.73 | 13385.09 | |
| (b) Purchase of stock in trade | 10.18 | 8.62 | 3.20 | 18.80 | 18.21 | 55.98 | |
| (c) Changes in inventories of finished goods, stock-in-trade & | |||||||
| Stock-in-Progress | (902.98) | (536.84) | 283.88 | (1439.82) | (466.88) | 765.22 | |
| (d) Employee benefits expense | 1934.22 | 1806.47 | 1796.90 | 3740.69 | 3655.68 | 7249.55 | |
| (e) Finance cost | 98.01 | 111.92 | 60.94 | 209.93 | 193.37 | 340.58 | |
| (f) Depreciation and amortisation expense | 215.25 | 210.31 | 215.35 | 425.56 | 429.27 | 861.96 | |
| (g) Other Expenses | 5880.49 | 5124.19 | 4679.43 | 11004.68 | 8957.15 | 19349.34 | |
| Total Expenses | 11306.42 | 10245.76 | 10347.59 | 21552.18 | 19236.53 | 42007.72 | |
| 3 | Profit before exceptional items & tax (1-2) | 683.81 | 693.45 | 575.74 | 1377.26 | 910.09 | 3465.62 |
| $\bf{4}$ | Exceptional Items (Interest on earlier years income tax refunds) | ||||||
| 541.60 | 70.73 | 612.33 | |||||
| 5 | Profit before tax (3-4) | 1225.41 | 764.18 | 575.74 | 1989.59 | 910.09 | 3465.62 |
| 6 | Tax expense | ||||||
| Current tax | |||||||
| Deferred tax | (79.10) | 8.76 | (38.76) | (70.34) | (85.76) | (138.58) | |
| (79.10) | 8.76 | (38.76) | (70.34) | (85.76) | (138.58) | ||
| $\overline{7}$ | Profit for the period (5-6) | 1304.51 | 755.42 | 614.50 | 2059.93 | 995.85 | 3604.20 |
| 8 | Other Comprehensive Income | ||||||
| (i) Items that will not be reclassified to profit or loss | (0.98) | (1.47) | (0.15) | (2.45) | 0.60 | (6.52) | |
| (ii) Income tax relating to above (i) | 0.35 | 0.51 | 0.05 | 0.86 | (0.21) | 2.28 | |
| Other Comprehensive Income for the year | (0.63) | (0.96) | (0.10) | (1.59) | 0.39 | (4.24) | |
| 9 | Total Comprehensive Income (7+8) | 1303.88 | 754.46 | 614.40 | 2058.34 | 996.24 | 3599.96 |
| 10 Paid up equity share capital (face value of ₹10/- each) | 4714.39 | 4714.39 | 4714.39 | 4714.39 | 4714.39 | 4714.39 | |
| 11 Earning per share $(\bar{\zeta})$ | |||||||
| Basic | 2.77 | 1.60 | 1.30 | 4.37 | 2.11 | 7.65 | |
| Diluted | 2.77 | 1.60 | 1.30 | 4.37 | 2.11 | 7.65 | |
Registered Office & Works : Talheti, Village : Karoli, Tehsil: Abu Road, Dist.: Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLC002460 Email: [email protected]
Unaudited Consolidated Segment Information for the Quarter ended 30th September, 2024
| (₹in Lacs) | |||||||
|---|---|---|---|---|---|---|---|
| Ouarter Ended | Half Year Ended | ||||||
| S. No. |
Particulars | 30.09.2024 | 30.06.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | 31.03.2024 |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| Segment Revenue | |||||||
| (a) Insulators | 9913.70 | 9049.20 | 9319.43 | 18962.90 | 17303.65 | 39704.19 | |
| (b) Terry Towels | 1577.99 | 1333.25 | 1299.32 | 2911.24 | 2290.23 | 4625.14 | |
| Others (c) |
14.64 | 0.16 | 14.80 | 0.90 | |||
| (d) Inter segment revenue | (14.19) | (1.73) | (15.92) | $\overline{\phantom{a}}$ | (0.19) | ||
| Total Operating Income | 11492.14 | 10380.88 | 10618.75 | 21873.02 | 19593.88 | 44330.04 | |
| 2 Segment Results Profit before finance cost and Tax | |||||||
| (a) Insulators | 1332.91 | 990.66 | 688.90 | 2323.57 | 1323.27 | 3792.79 | |
| (b) Terry Towels | (0.60) | (93.53) | (50.64) | (94.13) | (204.07) | 49.21 | |
| (c) Others | (8.89) | (21.03) | (1.58) | (29.92) | (15.74) | (35.80) | |
| Total | 1323.42 | 876.10 | 636.68 | 2199.52 | 1103.46 | 3806.20 | |
| Less: Finance Cost | 98.01 | 111.92 | 60.94 | 209.93 | 193.37 | 340.58 | |
| Total Profit before tax | 1225.41 | 764.18 | 575.74 | 1989.59 | 910.09 | 3465.62 | |
| 3 | Segment assets | ||||||
| (a) Insulators | 45767.35 | 45291.78 | 42683.88 | 45767.35 | 42683.88 | 45721.29 | |
| (b) Terry Towels | 9521.23 | 8889.24 | 7894.54 | 9521.23 | 7894.54 | 8965.03 | |
| (c) Others | 1815.12 | 1235.35 | 198.27 | 1815.12 | 198.27 | 692.73 | |
| Total | 57103.70 | 55416.37 | 50776.69 | 57103.70 | 50776.69 | 55379.05 | |
| Segment Liabilities | |||||||
| (a) Insulators | 10851.60 | 11305.53 | 10240.20 | 10851.60 | 10240.20 | 12067.53 | |
| (b) Terry Towels | 1045.46 | 786.87 | 658.10 | 1045.46 | 658.10 | 667.63 | |
| $(c)$ Others | 666.52 | 87.73 | 0.33 | 666.52 | 0.33 | 162.11 | |
| Total | 12563.58 | 12180.13 | 10898.63 | 12563.58 | 10898.63 | 12897.27 |
Registered Office & Works : Talheti, Village : Karoli, Tehsil: Abu Road, Dist.: Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN-L31300RJ1982PLC002460 Email: [email protected]
| Unaudited Consolidated Balance Sheet as at 30th September, 2024 | |
|---|---|
| ----------------------------------------------------------------- | -- |
| (₹ in Lacs) | ||
|---|---|---|
| Particulars | As at 30th | As at 31st |
| September, 2024 | March , 2024 | |
| (Unaudited) | (Audited) | |
| ASSETS | ||
| Non-current assets | ||
| Property, Plant & Equipment | 15948.21 | 16248.26 |
| Capital work-in-progress | 1220.44 | 189.55 |
| Intangible assets | 16.08 | 14.90 |
| Financial Assets | ||
| (i) Investments | 0.01 | 0.01 |
| (ii) Loans | 6794.00 | 6374.00 |
| (iii) Other Financial Assets Other non-current assets |
1057.90 | 985.77 |
| Total Non-current assets | 317.94 | 445.88 |
| 25354.58 | 24258.37 | |
| Current assets | ||
| Inventories | 11928.37 | 10563.96 |
| Financial Assets | ||
| (i) Trade Receivables | 9576.79 | 11294.06 |
| (ii) Cash and Cash Equivalents | 1091.54 | 463.53 |
| (iii) Bank balances other than cash and cash equivalents | 578.12 | 376.41 |
| (iv)Investments | 3562.73 | 1881.00 |
| $(v)$ Loans | 30.20 | 44.12 |
| (vi) Other Financial Assets | 400.71 | 454.51 |
| Other current assets | 4580.66 | 6043.09 |
| Total Current assets | 31749.12 | 31120.68 |
| TOTAL ASSETS | 57103.70 | 55379.05 |
| EQUITY AND LIABILITIES | ||
| EQUITY | ||
| Equity Share Capital | 4714.39 | 4714.39 |
| Other Equity | 39825.73 | 37767.39 |
| Total Equity | 44540.12 | 42481.78 |
| Non-current liabilities | ||
| Financial Liabilities | ||
| Borrowings | 191.91 | 17.21 |
| Provisions | 2315.33 | 2376.87 |
| Deferred Tax Liabilities (Net) | 2159.06 | 2230.26 |
| Other non-current liabilities | 20.85 | 24.90 |
| Total Non Current liabilities | 4687.15 | 4649.24 |
| Current Liabilities | ||
| Financial Liabilities | ||
| (i) Borrowings | 502.86 | 1896.79 |
| (ii) Trade Payables | ||
| - Total outstanding dues of micro, small and medium enterprises - Total outstanding dues of creditors other than micro, small and medium enterprises |
389.77 | 330.54 |
| 3097.84 | 2994.13 | |
| (iii) Other Financial Liabilities | 2570.08 | 1938.00 |
| Provisions | 499.82 | 497.20 |
| 816.06 | 591.37 8248.03 |
|
| Other Current Liabilities Total Current Liabilities |
7876.43 |
Registered Office & Works : Talheti, Village : Karoli, Tehsil: Abu Road, Dist.: Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN-L31300RJ1982PLC002460 Email: [email protected]
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2024
| $(\overline{\mathcal{R}}$ in Lacs) | ||||
|---|---|---|---|---|
| PARTICULARS | Half year ended 30th September, 2024 (Unaudited) |
Half year ended 30th September, 2023 (Unaudited) |
||
| A. Cash Flow from Operating Activities | ||||
| Profit before tax | 1989.59 | 910.09 | ||
| Adjustments for: | ||||
| -Depreciation and amortisation expenses | 425.56 | 429.27 | ||
| -Provisions | (61.37) | 1.92 | ||
| -Foreign exchange flucation (net) | 66.15 | 24.78 | ||
| -Profit on disposal of property, plant and equipment | 8.14 | (4.86) | ||
| -Finance costs | 209.93 | 193.37 | ||
| -(Profit)/Loss on fair valuation of investment carried at FVTPL | (340.21) | (70.81) | ||
| -Interest income | (102.90) | 205.30 | (38.30) | 535.37 |
| Operating profit before working capital changes Adjustment for |
2194.89 | 1445.46 | ||
| -Trade and other receivables | 2893.51 | 265.27 | ||
| -Inventories | (1364.41) | (669.93) | ||
| -Other non-current assets | 127.94 | 0.00 | ||
| -Trade and other Payables | 1015.66 | 2672.70 | (24.11) | (428.77) |
| Net Cash from Operating Activities (A) | 4867.59 | 1016.69 | ||
| B. Cash Flow from Investing Activities | ||||
| -Proceeds from sale of property, plant and equipment | 132.92 | 33.04 | ||
| -Purchase of property, plant and equipment(including capital work-in progress) |
(1298.64) | (131.65) | ||
| -Loans and advances given (net) | (406.08) | (23.00) | ||
| -Interest Income | 102.90 | 38.30 | ||
| -Investment in Equity Shares (net) | (1341.52) | (192.50) | ||
| Net Cash used in Investing Activities (B) | (2810.42) | (275.81) | ||
| C. Cash Flow from Financing Activities | ||||
| -Proceeds/(Repayment) of Long term borrowings (net) | 174.48 | (13.99) | ||
| -Proceeds/(Repayment) of Short term borrowings (net) | (1393.71) | (416.70) | ||
| -Interest Paid | (209.93) | (193.37) | ||
| Net cash used in Financing Activities (C) | (1429.16) | (624.06) | ||
| Net increase in cash and cash equivalents(A+B+C) | 628.01 | 116.82 | ||
| Cash and cash equivalents at the beginning | 463.53 | 144.63 | ||
| Less: Upon disposal of Subsidiary | 24.89 | |||
| Cash and cash equivalents at the close | 1091.54 | 236.56 |
Registered Office & Works : Talheti, Village : Karoli. Tehsil: Abu Road, Dist.: Sirohi - 307510 (Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN-L31300RJ1982PLC002460 Email: [email protected]
Notes:
-
- The above unaudited financial results have been reviewed by the audit committee and approved by the Board of Directors at their respective meeting held on 13th November, 2024.
-
- Modern Insulators Limited (The Holding Company) has given interest free unsecured loan Rs. 6794 lacs (previous year Rs. 6374 lacs) (maximum amount outstanding at any time during the quarter Rs. 6794 lacs) to a company covered under section 189 of the Companies Act, 2013 in view of proposed amalgamation under the provisions of Companies Act, 2013. Since the amount paid is in connection to proposed amalgamation, no terms have been specified for the repayment of loan and interest. In view of the likely advantage to the Holding Company on such amalgamation, granting of such loan is not prejudicial to the interest of the Holding Company.
-
- Modern Insulators Limited (The Holding Company) has given interest free unsecured loan Rs. 670 lacs to its wholly owned subsidiary company for its normal business requirements and the same has been utilised for that purpose.
-
- Provision for taxation including interest estimated at Rs. 655.18 lacs and Rs. 1089.72 Lacs for the quarter & half year ended 30th September, 2024 respectively (upto the half year Rs. 11018.74 lacs; upto the previous year Rs. 9929.02 lacs) has not been made in accounts of Holding company in view of the proposed amalgamation under the provisions of Companies Act, 2013.
-
- Figures for previous periods have been regrouped or rearranged wherever necessary to make them comparable with the current period's classification.
For and on behalf of the Board of Directors MODERN INSULATORS LIMITED
Ust
P.K.Gokhroo (Executive Director) DIN: 06810797
Place: Abu Road Date: 13th November, 2024