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SHIVAM AUTOTECH LIMITED Audit Report / Information 2021
61877_rns_2021-06-09_1a4792a3-72f1-451a-a708-78e12fcabf1f.pdf
Audit Report / Information
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June 09, 2021
The National Stock Exchange of India Ltd The BSE Limited "Exchange Plaza", Bandra Kurla Complex, Phiroje Jeejeebhoy Towers Bandra East, Dalal Street Fort Mumbai - 400 051 Mumbai - 400 001 (Scrip Code - SHIVAMAUTO) (Scrip Code - 532776)
Sub: Outcome of the Board Meeting held on June 09, 2021.
Dear Sir,
This is to inform you that we have conducted a Meeting of Board of Directors of the Company today as scheduled and inter-alia following business was transacted. The Board meeting was commenced at 02:00 P.M. and was concluded at 05:10 P.M.
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- The Board has approved Final Accounts for the year ended March 31, 2021.
- The Board has approved Audited Financial Results of the Company for the last quarter and financial year ended March 31, 2021.
-
- The Board has approved the Draft Letter of offer for the Proposed Rights Issue pursuant to the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time.
Enclosed herewith:
- a. Audit Report from Auditors for the last quarter and year ended March 31, 2021.
- b. Audited Financial Results of the Company for the last quarter and year ended March 31, 2021 along with statement of Assets and liabilities as on March 31, 2021.
- c. Declaration pursuant to Regulation 33(3)(d) of the SEBI (LODR) (Amendment) Regulations, 2016 and SEBI Circular No. CIR/CFD/CMD/56/2016 that the Audit Report issued by Statutory Auditors in respect of Annual Audited Financial Results of the Company for the quarter and financial year ended March 31, 2021 is with unmodified opinion.
Kindly take the above on your record and oblige.
Thanking you. For Shivam Autotech Limited Aiea Samta Bajaj Company Secretary M. No. 50269 www.shivamautotech.com| info@ shivamautotech.com CIN — L34300HR2005PLC081531 * % Registered Office: 10, 1st Floor, Emaar Digital Greens, Tower A, Sector 61, Golf Course Extension Road, Gurugram, Haryana-122011 Tel: 0124 - 4698700 Fax: 0124 - 4698798
NSBP & CO. CHARTERED ACCOUNTANTS
Independent Auditor's Report on the Quarterly and Year to Date Audited Financial Results of Shivam Autotech Limited, Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
To
The Board of Directors of Shivam Autotech Limited Gurugram, Haryana.
Report on the Audit of Annual Financial Results
Opinion
We have audited the accompanying annual financial results of Shivam Autotech Limited (the "Company") for the quarter ended March 31, 2021 and the year to date results for the period April 01, 2020 to 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") , which has been initialed by us for identification purpose.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Statement:
- (i) is presented in accordance with the requirements of the Listing Regulations in this regard; and
- (ii) gives a true and fair view in conformity with the recognition and measurement principles laid down in applicable accounting standards and other accounting principles generally accepted in India, of the net loss, other comprehensive income and other financial information of the Company for the quarter ended March 31, 2021 and the year to date results for the period April 01, 2020 to March 31, 2021.
Basis for Opinion
We conducted our audit of the Statement in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 as amended ("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 Statement 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 opinion.
Emphasis of Matter
We draw attention to:
-
- Note 4 in the Statements, wherein management has recognized deferred tax assets on the assumption that there would be sufficient future taxable profits, more fully been explained in the said note for reversal of such deferred tax assets.
- u. Note 5 in the Statements, regarding the booking of material consumption and accounting impact of physical verification observations, more fully been explained in the said note.
| DEEPAK | Digitally signed byDEEPAK KUMAR | |
|---|---|---|
| Our opinion is not modified in respect of above matters. | KUMARp | Sale |
| AGGARWAL 46:32:49 +05'30 |
325, Third Floor, US Complex, Opp. Apollo Hospital, 120, Mathura Road, Sarita Vihar, New Delhi 110076, India
E- Mail : [email protected] Website : www.nsbpco.com
NSBP & Co.
Management and Board of Director's Responsibilities for the Annual Financial Results
The Statement, which is the responsibility of the Company's management and approved by the Board of Directors has been prepared on the basis of the annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the applicable accounting standards 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 the Listing Regulations.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies, making judgments and estimates that are reasonable and prudent, and 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Management and 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 Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement 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 the Statement.
As part of an audit in accordance with Standard on Auditing's (SAs), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- e Identify and assess the risks of material misstatement of the Statement, 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.
- e =Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(1) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
- e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management and Board of Directors.
- e Evaluate the appropriateness and reasonableness of disclosures made by the Management and Board of Directors in terms of the requirements specified under the Listing Regulations.
325, Third Floor, US Complex, Opp. Apollo Hospital, 120, Mathura Road, Sarita Vihar, New Delhi 110076, India
E- Mail : [email protected] Website : www.nsbpco.com Digitally signed by
NSBP & Co.
- e Conclude on the appropriateness of the Management and 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 Company's ability 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 financial results 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.
- e Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
- e Obtain sufficient appropriate audit evidence regarding the Statement of the company to express an opinion on the annual financial results.
Mateniality is the magnitude of misstatements in the Statement that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial results may be influenced. We consider quantitative materiality and qualitative factors in (1) planning the scope of our audit work and in evaluating the results of our work; and (il) to evaluate the effect of any identified misstatements in the financial results.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a Statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other matter
The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year to date figures up to the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
Our opinion is not modified in respect of above matter.
For NSBP & Co. Chartered Accountants Firm's Registration No. 001075N
Digitally signed by DEEPAK DEEPAK KUMAR gunman accarwat AGGARWAL Date: 2021.06.09 16:34:07 +05'30'
Deepak K. Aggarwal Place: New Delhi Partner Date: June 09, 2021 Membership No: 095541 UDIN21095541 AAAAFO5118
325, Third Floor, US Complex, Opp. Apollo Hospital, 120, Mathura Road, Sarita Vihar, New Delhi 110076, India
E- Mail : [email protected] Website : www.nsbpco.com
of Audited Financial Results for the Quarter and Year ended March 31, 2021
| Shivam Autotech Limited=CIN: L34300HR2005PLC081531Regd. Office: 4 0, 1st Floor, Emaar Digital Greens, Tower A, Sector-61 | m | SHIVAM | ||||
|---|---|---|---|---|---|---|
| AUTOTECH LTD | ||||||
| Golf Course Extension Road, Gurugram, Haryana, 122102Statementof Audited Financial Results for the Quarter | ||||||
| and Year ended March 31, 2021 | ||||||
| Sr. No. [Particulars | For the Quarter Ended | Year Ended = | ||||
| March 31, 2021 Peeemberst+ arch 31,2020 March 31, 2021 March 31, 2020 | ||||||
| Leen | (Auditea)* | (Un Audited) | (Audited)* | (Audited) | (Audited) | |
| (i) | (ii) | (iii) | (iv) | |||
| 1 | Revenue from Operation | 16,192.86 | 15,488.69 | 11,465.15 | 48,741.15 | |
| 2 | {Other Income | 116.73 | 107.00 | 24.40 | 351.67 | |
| 3 __ [Total income (1+2) | 16,309.59 | 15,595.69 | 11,489.55 | 49,092.82 | ||
| 4 | Expenses | |||||
| (a) Cost of materials consumed | 5,787.38 | 5,340.42 | 4,792.08 | 16,796.02 | ||
| a—in Inventories of finished goods and work in | (139.14) | (652.85) | 120.94 | (1,003.57) | ||
| (c ) Consumption of stores & spares | 1,294.12 | 1,501.95 | 1,351.38 | 4,458.25 | ||
| (d) Employee benefits expense | 1,610.24 | 1,530.89 | 1,129.24 | 6,141.38 | ||
| (e) Depreciation and amortization expenses | 955.71 | 1,307.66 | 1,369.10 | 4,872.28 | ||
| (f) Job work charges | 1,011.99 | 1,145.87 | 687.22 | 3,308.41 | ||
| (g) Finance Cost | 1,603.12 | 1,377.17 | 1,281.81 | 5,683.56 | ||
| (h) Other expenses | 3,574.98 | 3,546.44 | 3,153.50 | 11,289.09 | ||
| 'Total expenses | 15,698.40 | 15,097.55 | 13,885.28 | 51,545.42 | ||
| 5 | Profit / (Loss) before exceptional items and tax (3-4) | 611.19 | 498.14 | (2,395.73) | (2,452.60) | |
| 6 | Exceptional item | - | - | - | ||
| 7 | Profit before tax after exceptional item and before tax | 611.19 | 498.14 | (2,395.73) | (2,452.60) | |
| 8 | Tax Expense | |||||
| Current Tax | - | - | . | s | ||
| Deferred Tax | 965.64 | (693.77) | (1,078.81) | (354.55) | ||
| Taxes for Earlier years | 154.51 | - | - | 154.51 | ||
| Tax Expense | 1,120.15 | (693.77) | (1,078.81) | (200.04) | ||
| 9 | Net Profit / (Loss) after tax (7-8) for the period | (508.96) | 1,191.91 | (1,316.93) | (2,252.56) | |
| 10 Other Comprehensive Income | ||||||
| Item that will not be reclassified to profit or loss | 100.14 | (12.94) | (51.16) | 58.37 | ||
| ane baa Beret to items that will not be reclassified to | (34.99) | 452 | 17.87 | (20.40) | ||
| 11 Total Comprehensive Income / (Loss) (9+10) | (443.81) | 1,183.49 | (1,350.22) | (2,214.59) | ||
| 12 Paid up equity share capital (Face value Rs.2) | 2,000.00 | 2,000.00 | 2,000.00 | 2,000.00 | ||
| 13 Other Equity | - | - | - | 9,302.14 | ||
| Capital Redemption Reserve | - | - | - | 5.00 | ||
| 14 | Eaming per Share (Rs.)- face value of Rs. 2 each | |||||
| Basic / Diluted ( before exceptional item) | (0.51) | 1.19 | (1.32) | (2.25) | ||
| 15 | (0.51) | 1.19 | (1.32) | (2.25) | ||
| Basic/ Diluted(after exceptional item)* ReferNoteNo.9 | ||||||
| Notes | ||||||
| Bb | The above results for the quarter and year ended March 31, 2021 were reviewed by the Audit Committee and thereafter were | |||||
| Digitally signed by | approved by the Board of Directors in its meeting held on June 09, 2021. | |||||
| DEEPAKKUMAR — 9 As the Company's business activity falls within a single primary business segment viz 'Two-wheelers, its party | ; | ' | ||||
Notes
- Digitally signed by ; ' DEEPAK DEEPAKKUMAR 9 As the Company's business activity falls within a single primary business segment viz 'Two-wheelers, its party KUMAR AGGARWAL Date: 2021.06.09 : AGGARWAL 17:99:56 «05°20 Operating Segment" are not applicable.
- 3 These results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 prescribed under Section 133 of the Companies Act, 2013 as amended and other recognized accounting practices 4h the extent possible ible. www.shivamautotech.com| info @ shivamautotech.com XI
Registered Office: 10, 1st Floor, Emaar Digital Greens, Tower A, Sector 61, Golf Course Extension Road, Gurugram, Ptaryana2122011 |
Tel: 0124 - 4698700 Fax: 0124 - 4698798
7 &
-
4 As a matter of prudence, The company continues to carry Deferred tax assets of Rs. 5,533.32 lakhs as at March 31, 2021 (restricted to deferred tax assets on unabsorbed depreciation of Rs. 5,207.50 Lakhs created up to March 31, 2020). In past ised company had incurred losses mainly due to depress in the automobile sector, however the management Is hopeful (0\e8m adequate profits in future to utilise deferred tax assets.
-
5 Due to non- updation of Bill of material (BOM), setting up of new production facilities and expansion of the customer base, quantitative variance were observed between physical and book records.Variance as observed has been considered as Consumption of material for the preparation of the quarterly/year to date results.
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6 In preparation of annual financial results for the year ended March 31, 2021, the company has taken into account the possible a of COVID 19 and the related internal and external factors known to the management upto the date of aproval of these results,
-
7 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders, which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published."
-
8 The Board of directors in its meeting held on December 28, 2019 considered and approved the further issue of Equity shares to the existing shareholders of the Company on Right basis upto Rs.50 crores in such ratio and proportion. to their holdings on the Tecord date as may be decided by the board in accordance with the provisions of the Section 23 and Section 62 and all other applicable provisions, if any, of the Companies Act, 2013 and rules made there under, Chapter Ill and other applicable regulations of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, the guidelines and / or regulations and/or circulars issued by the Securities and Exchange Board of India, the Listing Agreements entered with the Stock Exchanges pursuant to Securities And Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and subject to the such other approvals, permissions, consents, no objections and sanctions of the lenders of the Company, SEBI, Stock Exchange(s), RBI, Government of India and/or any other concerned regulatory authorities, as may be necessary.
-
9 The figures of last quarter are the balancing figures between audited figures in respect of full financial year and the published year to date figures up to the third quarter of the relevant financial years.
-
10 The results of the company are also available on stock exchange websites www.nseindia.com, www.bseindia.comand on the company website www.shivamautotech.com
-
11 The figures for the previous periods have been regrouped / rearranged wherever necessary .
| impact are published." | Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders, which are under active consideration by theMinistry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impactin its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial | |||
|---|---|---|---|---|
| authorities, as may be necessary. | 8 The Board of directors in its meeting held on December 28, 2019 considered and approved the further issue of Equity shares tothe existing shareholders of the Company on Right basis upto Rs.50 crores in such ratio and proportion. to their holdings on theTecord date as may be decided by the board in accordance with the provisions of the Section 23 and Section 62 and all otherapplicable provisions, if any, of the Companies Act, 2013 and rules made there under, Chapter Ill and other applicable regulationsof Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, theguidelines and / or regulations and/or circulars issued by the Securities and Exchange Board of India, the Listing Agreementsentered with the Stock Exchanges pursuant to Securities And Exchange Board of India (Listing Obligations and DisclosureRequirements) Regulations, 2015 and subject to the such other approvals, permissions, consents, no objections and sanctions ofthe lenders of the Company, SEBI, Stock Exchange(s), RBI, Government of India and/or any other concerned regulatory | |||
| held on June 09, 2021 for approval. | Further for the purpose of giving effect to the Rights Issue, the Board may either by itself or has authorized a Committee of theBoard, under the name and style of "Rights Issue Committee" to decide the other terms and conditions of the Rights Issue as maybe required from time to time. Further, the Draft letter of offer shall be placed before the Board of Directors in the meeting to be | |||
| to date figures up to the third quarter of the relevant financial years. | 9 The figures of last quarter are the balancing figures between audited figures in respect of full financial year and the published year | |||
| company website www.shivamautotech.com | 10 The results of the company are also available on stock exchange websites www.nseindia.com, www.bseindia.comand on the | |||
| 11 The figures for the previous periods have been regrouped / rearranged wherever necessary . | ||||
| Place : Gurugram | ||||
| Date : 09-06-2021 | DEEr OlKUMARAGGARWAL | DEEDAK KUMARAGGARWALDate: 2021.06.0917:10:20 +05'30 | ||
| www.shivamautotech.com info shivamautotech.com@CIN - L34300HR2005PLC081531 | & | |||
| Registered Office: 10, 1st Floor, Emaar Digital Greens, Tower A, Sector 61, | SureFax : er Syd |
| m | SHIV AM | ||
|---|---|---|---|
| mStatement of Assets and Liabilities as at Mare= | iSHIV AMSTDAs at 31.03.2021 | As at 31.03.2020 | ||
|---|---|---|---|---|
| (Audited) | (Audited) | |||
| A) | ASSETS | |||
| 1) | Non - current assets | |||
| (a@) Property, plant and equipment | 42,203.27 | 43,779.43 | ||
| (b) Right of use asset | 681.89 | 924.52 | ||
| (c) Capital work - in - progress | 46.62 | 2,753.72 | ||
| Intangible assets(d) | 58.23 | 110.83 | ||
| (e) Intangible assets under development | 47.00 | 72.30 | ||
| (f) Financial assets | ||||
| () Loans | 629.78 | 650.80 | ||
| (ii) Others(g) Deferred tax assets (net) | 715.723,669.31 | 355.733,335.15 | ||
| (h) Income tax assets (net) | 49.60 | 455.73 | ||
| (i) Other non - current assets | 474.54 | 108.56 | ||
| 48,575.95 | 52,546.77 | |||
| 2) | Current assets | |||
| (a) Inventories | 8,851 63 | 8,599.05 | ||
| (b) Financial assets | ||||
| (i) Trade receivables | 6,738.41 | 7,143.51 | ||
| (ii) Cash and cash equivalents(iii) Bank Balances other than (ii) above | 5,327.34868.05 | 321.36414.61 | ||
| {iv) Loans | 16.76 | 37.32 | ||
| (v) Others | 302.28 | 27.26 | ||
| (c) Other current assets | 2,760.67 | 3,342.51 | ||
| 24,865.14 | 19,885.61 | |||
| Total Assets | 73,441.09 | 72,432.38 | ||
| B) | EQUITY AND LIABILITIES | |||
| 4) | EQUITY(a) Equity share capital | 2,000.00 | 2,000.00 | |
| (b) Other equity | 9,302.14 | 11,516.73 | ||
| 11,302.14 | 13,516.73 | |||
| 2) | LIABILITIES | |||
| Non - current liabilities | ||||
| (a) Financial liabilities | ||||
| BorrowingsLease Liabilities | 24,531.40660.80 | 20,373.17887.19 | ||
| (b) Provisions | 687.79 | 662.29 | ||
| (c) Other non-current liabilities | 24.55 | 25.45 | ||
| 25,904.54 | 21,948.10 | |||
| Current liabilities | ||||
| (a) Financial liabilities | ||||
| (i) Borrowings | 13,695.31 | 17,801.45 | ||
| (ii) Trade payables | ||||
| -Dues of micro enterprises & small enterprises-Other trade payable | 1,388.216,467.38 | |||
| (iii) Lease Liabilities | 119.10 | |||
| (iv) Other financial liabilities | 12,270.15 | |||
| (b) Other current liabilities | 2,276.84 | 1,637.37 | ||
| (c) Provisions | 17.41 | 15.82 | ||
| =i | = | |||
| a | www. shivamautotech.com He erenesass= | DEEPAKea pifAGGARWAL D®.2021.0609 |
Registered Office: 10, 1st Floor, Emaar Digital Greens, Tower A, Sector 61, Golf Course Extension Road, Gurugram, Haryana-122011 |
Tel: 0124 - 4698700 Fax: 0124 - 4698798
a &
=— J AUTOTECH LTD Regd. Office: 10, Ist Ploor, Emaar Digital Greens, Tower A, Sector-61 Golf Course Extension Road, Gurugram, Haryana, 122102 CIN: 134300HR200SPLC081531 Shivam Autotech Limited
| Statement of Cash flow for theyear ended 31st March, 2021 | Year ended 31st,March 2021 | Year ended 31st,March 2020 | ||
|---|---|---|---|---|
| A | Cash flow from operating activities | |||
| Net Profit Before Taxation and Extraordinary activitiesAdjustments for: | (2,394.24) | (5,481.90) | ||
| Depreciation | 4,872.28 | 5,381.24 | ||
| Provision for Doubtful debts/ECLProfit/(Loss) on sale of PPE | 145.9032.81 | 452.00(6.15) | ||
| Asset written off | 72.30 | |||
| Government Grant | (0.91) | (0.91) | ||
| Interest income on deposits | (55.51) | (38.73) | ||
| Finance Cost | 5,683.56 | 5,306.36 | ||
| Operating profit before working capital changes | 8,356.19 | 5,611.91 | ||
| Adjustment for working capital changes: | ||||
| (increase)/decrease in trade receivables | 259.20 | 1,795.92 | ||
| (increase)/decrease in inventories | (252.58) | 2,297.76 | ||
| increase/ (decrease) in Trade payable | (2,323.27) | (309.25) | ||
| (increase)/decrease in loans & advances/ Other current assets | (465.04) | 16.92 | ||
| increase/ (decrease) In current liabilities & provisions | 1,338.60 | 1,024.58 | ||
| Cash from operations | 6,913.10 | 10,437.84 | ||
| Direct taxes paid (net of refunds) | 251.63 | (26.40) | ||
| Net cash from operating activities | 7,164.73 | 10,411.44 | ||
| B | Cash flow from investing activities | |||
| Purchase of fixed assets including capital work in progress | (2,088.94) | (4,371.34) | ||
| Proceeds from sale of fixed assets | 195.84 | 7.20 | ||
| Interest received on deposits | 55.51 | 38.95 | ||
| Net cash used in investing activities | (1,837.59) | (4,325.19) | ||
| C | Cash flow from financing activities | |||
| Proceeds from/(repayment of) from short term borrowings (net) | 1,000.67 | 402.29 | ||
| Proceeds from/(repayment of) of long term borrowings (net) | 4,158.22 | (949.67) | ||
| Repayment of Lease LiabilitiesInterest paid | (81.02)(5,399.03) | (85.25)(5,214.46) | ||
| Net cash used in financing activities | (321.16) | (5,847.09) | ||
| Net (decrease)/increase in cash or cash equivalents | 5,005.98 | 239.16 | ||
| Cash or cash equivalents at beginning of the yearCash or cash equivalents at the end of the year | 321.365,327.34 | 82.20321.36 | ||
| Note: | ||||
| 1) Previous year figures have been regrouped/restated wherever considered necessary | ||||
| 2) Figures in bracket represents cash outflow | 3) The above Cash Flow Statement has been prepared under the 'Indirect Method' as set out in the Indian Accountipg | |||
| (IND AS-7) 'Statement of Cash Flow'. | ||||
| Digitally signed byDEEPAKDEEPAK KUMAR | Asat | Asat | ||
| Components of cash and cash equivalents as atCash and cash equivalents: | KUMARAGGARWALAGGARWALDate: 2021.06.0917:11:06 +0530" | March 31, 2021 | March 31, 2020 | |
| Cash and cash equivalents | 5,327.34 | 321.36 | ||
| Cash and cash equivalents | www.shivamautotech.com info shivamautotetr-com | 5,327.34 | 321.36 | |
| @CIN — L34300HR2005PLC081531 | ||||
| Registered Office: 10, 1st Floor, Emaar Digital Greens, Tower A, Sector 61, | & | |||
| Golf Course Extension Road, Gurugram, Haryana-122011 | Tel: 0124 - 4698700Fax: 0124 - 4698798 | |||
June 09, 2021
The National Stock Exchange of India Ltd The BSE Limited "Exchange Plaza", Bandra Kurla Complex, Phiroje Jeejeebhoy Towers Bandra East, Dalal Street Fort Mumbai - 400 051 Mumbai - 400 001 (Scrip Code - SHIVAMAUTO) (Scrip Code - 532776)
Sub: Declaration pursuant to Regulation 33(d) of SEBI (Listing Obligation and Disclosure Requirements) (Amendment) Regulation 2016 and SEBI Circular no CIR / CED /CMD/ 56/ 2016 dated 27-May-2016.
Dear Sir(s),
In compliance with Regulation 33(d) of SEBI (Listing Obligation and Disclosure Requirements) (Amendment) Regulation 2016 and SEBI Circular no CIR / CFD /CMD/ 56/ 2016 dated 27-May-2016, we hereby declare that the Statutory Auditors of our Company, NSBP & CO., Chartered Accountants (Firm Registration No. 001075N) have issued Audit Report with unmodified opinion in respect of Audited Financial Results of the Company for the quarter and Financial Year ended March 31, 2021.
Thanking you. For Shivam Autotech Limited
Davendra Ujlayan VP-Finance (CFO) www.shivamautotech.com| info @ shivamautotech.com ~CIN-L84300HR2005PLC081531 a &
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