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Simplex Castings Ltd. Earnings Release 2023

Feb 11, 2023

61924_rns_2023-02-11_6c4243cd-94c7-4391-93d1-44b41686822e.pdf

Earnings Release

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Simplex Castings Ltd. oe )

SY, Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India §

GS Phone : +91-788-2290483 /84 /85 E-Mail : [email protected]

CIN : L27320MH1980PLC067459

Ref: SCL/FY2022-23/BSE/39 Date:11.02.2023

To To,
The Secretary The Manager
Department of Corporate Services Calcutta Stock Exchange
Bombay Stock Exchange Limited Lyons
Range,
Address:
Dalhousie,
7,
Floor 25, Phiroze Jeejeebhoy Tower, Kolkata700001, West Bengal
Dalal Street Mumbai-400 001 Scrip Code: 29066
Scrip Code-513472

Sub: Outcome of the Board Meeting held on 11" February, 2023

Dear Sir/Madam,

In continuation to earlier intimation, please be informed that the Board of Directors of the Company at their meeting held today, have, inter alia, transacted the following business:

    1. Approved the unaudited financial results for the Quarter and Nine Months ended 31* December, 2022. The Limited Review Report issued by the Statutory Auditors of the Company on the unaudited financial results for the Quarter and Nine Months ended 31* December, 2022 is also enclosed.
    1. Approved the appointment of M/s Divanshu Mittal & Associates , Company Secretaries as the Secretarial Auditor of the Company for the Financial Year 2022-2023.
    1. Approved the re-appointment of M/s Harshit Malviya & Associates, Chartered Accountants as the Internal Auditor of the Company for the Financial Year 2023-24.
    1. Approved the resignation of Mrs Akanksha Kotwani from the position of Company Secretary & Compliance Officer of the Company with effect from 11" February ,2023 ( close of Business hours) and in her place appointment of Mrs Pooja Jethmal as Company Secretary & Compliance Officer of the Company with effect from 12" February, 2023.
    1. Approved the resignation of Mr Om Prakash Patel from the Directorship of the Company due to medical issue with effect from 11" February ,2023 ( close of Business hours). Further, the Company has received confirmation from Mr. Om Prakash Patel that there is no other material reasons for his resignation.

The results are being published and also made available on the website of the Company at www.simplexcastings.com. The meeting of the directors was commenced at 2.30 p.m and concluded at 4.30 p.m You are requested to take the above information on record and disseminate the same for the information.

Thanking You, For, Simplex Castings, Limited

OFFICE ADDRESS a6 PHONE FAX E-MAIL

Regd. Office : 601/602 A, FAIRLINK CENTER, OFF ANDHERI LINK ROAD, ANDHERI (W), MUMBAI -53 022-40034768 [email protected] Kolkata : 119, PARK STREET, WHITE HOUSE 4" FLOOR KOLKATA - 700016 (W.B.) INDIA 08961045611 033-22493251 [email protected]

Bhilai (Plant) 5, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA 0788-40 15273 0788-4034188 — [email protected]

Rajnandgaon (Plant): — 223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 491441(C.G.) INDIA 9203901697 0788-2285664 _ [email protected]

Simplex Castings Ltd. Ci Phone

CIN : L27320MH1980PLC067459

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED AS ON 31st DECEMBER 2022

Corporate Office : 32, Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India $\frac{1}{8}$ Solution Standards Byson State : +91-788-2290483 /84 /85 Fax : +91-788-2285664
CIN: L27320MH1980PLC067459
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED AS ON 31st DECEMBER 2022
Amount in
Rs. Lakhs
Particulars Quarter Ended Nine Months ended
31-12-2022		 31-12-2021 Year Ended
31.03.2022
31-12-2022
(unaudited)		 30-09-2022
(unaudited)		 31-12-2021
(unaudited)		 (unaudited) (unaudited) (Audited)
INCOME
Revenue from operations		 3,027.63 2,570.40 2,268.80 7,216.71 6,029.62 9,183.85
Other Income 51.22 7.89 5.99 69.37 58.96 82.96
TOTAL
REVENUE (I)		 3,078.85 2,578.29 2,274.79 7,286.08 6,088.58 9,266.81
EXPENDITURE
Cost of raw material and component
consumed
Job work contract		 1,949.17 1,710.22 1,708.24 3,796.20 3,329.64 5,698.99
Changes in inventories of work-in-progress, (422.55) (550.85) (440.92) (372.28) (93.80) 169.12
(1, 227.50)
stock-in-trade and finished goods
Employees benefit expense		 313.33 321.32 292.61 933.27 896.20 1,357.82
Finance costs 181.38 217.19 177.86 612.00 591.54 877.75
Depreciation and amortization expense
Other expenses		 149.15
862.04		 145.50
625.99		 145.60
379.49		 440.34
1,693.31		 436.48
888.42		 560.76
1,626.93
TOTAL
EXPENDITURE		 3,032.52 2,469.37 2,262.88 7,102.85 6,048.48 9,063.87
Profit/(Loss) before exceptional items (II) 108.92 11.91 183.24 40.10 202.94
and tax from continuing operations
Exceptional items		 46.33
1,395.10		 (665.69) 2,125.83
Profit/(Loss) before tax from continuing
operations
Tax expenses		 (1,348.77) 774.62 11.91 (1,942.60) 40.10 202.94
Current tax
Deferred Tax		 (222.95) 211.76 1.87 (352.64) 13.35 50.80
Total tax expenses (222.95) 211.76 1.87 (352.64) 13.35 50.80
Profit/(loss) for the year from continuing
operations		 (1, 125.82) 562.86 10.04 (1,589.96) 26.75 152.14
Profit/(loss) before tax from discontinuing
operations
Tax expense of discontinued operations ÷.
Profit/(loss) for the year from
discontinuing operations
Profit/(loss) for the (1, 125.82) 562.86 10.04 (1,589.96) 26.75 152.14
0.32 59.89
year
Other Comprehensive Income/ (Expenses)
for the period net of taxes
$\circ$		 S

Bhilai (Plant) 5, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA 0788-4015273 —0788-4034188 _ [email protected]

Rajnandgaon (Plant): — 223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 491441(C.G.) INDIA 9203901697 0788-2285664 _ [email protected]

ogi erandaras on Simplex Castings Ltd. oe ' lf . s

Simplex Castings Ltd. nad eme, nt
oe
ogi erandaras		 '
on
lf &
s
Cettifiey 6 4
SMPLEX
FI		 Phone : +91-788-2290483 /84 /85 Fax Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India 5
: +91-788-2285664		 ® b
:
E-Mail : [email protected] Website : www.simplexcastings.com Se Sl.
CIN : L27320MH1980PLC067459
Total Comprehensive Income for the
Comprising Profit/(Loss) Income for and the
period Other Comprehensive
period)		 (1,125.82) 562.86 10.04 (1,589.96) 27.07 212.03
Paid-up Equity Share Capital 613.12 613.12 613.12 613.12 613.12 613.12
(Face value of shares shall be indicated) 10 10 10 10 10 10
Other Equity excluding revaluation
reserves		 ; r i 5 4148.08
Earning per share of Continuing
operations Rs. 10 each (not annualised)
a) Basic (18.36) 9.18 0.16 (25.93) 0.44 2.48
b) Diluted (18.36) 9.18 0.16 (25.93) 0.44 2.48
Earning per share of discontinuing
operations Rs. 10 each (not annualised)
a) Basic iy a im 2 ¥ a
b) Diluted d - 4 x s
Earning per share of Continuing &
discontinuing operations Rs. 10 each (not
annualised)
a) Basic (18.36) 9.18 0.16 (25.93) 0.44 2.48
0.44 2.48

Note :

  1. The Financial Results of the company for the Quarter and Nine Months ended 31% December, 2022 have been reviewed by the Audit Committee at their respective meetings held on 11th February, 2023 and approved by the Board of Directors at their respective meetings held on 11th February, 2023.

  2. These results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) Prescribed under Section 133 of the Companies Act,2013 and other recognized accounting practices and policies to the extent applicable.

  3. Exceptional items of expenses of Rs. 2125.83 Lakhs for the nine month ended on 31-12-2022 pertain to:

(a) Exceptional items of expenses Rs. 1396.43 Lakhs booked in Qtr-I consists of loss booked for finished goods lying as inventory for dispatch to Ukraine and return of items dispatched to Ukraine and its associated costs. In the current quarter, looking into the uncertainty of dispatches related to such items due to continuing war situation between Ukraine and Russia, management has decided to use the underlying finished stock in the godown by cutting the same and using as raw material. In the Said process of conversion of FG into raw material, loss of 1169.13 lakhs has been recognized. ot LT rthe ' fort materials recalled back from Ukraine, valuation of material in transit has been done at BN

PHONE FAX E-MAIL
f AIRLINK CENTER, OFF ANDHERI LINK ROAD, ANDHERI (W), MUMBAI -53 022-40034768 [email protected]
PARK STREET, WHITE HOUSE 4" FLOOR KOLKATA - 700016 (W.B.) INDIA
Kolkata		 08961045611 033-22493251 — [email protected]
, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA
Bhilai (Plant)		 0788-4015273 —0788-4034188 _ [email protected]
Rajnandgaon (Plant): — 223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 491441(C.G.) INDIA 9203901697 0788-2285664 — [email protected]

= \$F 1agemens wer at we pendards Y 37, Simplex Castings Ltd. oe

SMPLEX Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India 55 SS) Phone : +91-788-2290483 /84 /85 Fax; +91-788-2285664 :

E-Mail : [email protected] Website : www.simplexcastings.com Nw S

CIN : L27320MH1980PLC067459

the net realizable value of Raw material only alongwith its associated costs for bringing it back to the company's premises and consequently loss of Rs. 227.30 lakhs has been recognized for the same.

  • (b) Exceptional item of Settlement of dispute with M/s Texmaco Rail & Engineering Limited for an amount of Rs. 7.5 crores booked as income in Qtr-II of FY 2022-23.
  • (c) Settlement of GST litigation by payment of GST to the tune of Rs. 84.01 Lakhs booked as expenses in Qtr-H of FY 2022-23.
  • (d) Management has consumed non-moving spares (bought out items) of approx. 1090 MT amounting to Rs. 1894.94 Lakhs in Quarter III of FY 2022-23 against which exceptional loss of 1420 Lakhs has been booked.
  • (e) Settlement agreement has been executed in relation to dispute with M/s Titagarh Wagons Limited wherein old pending receivable from the company of Rs. 94.10 Lakhs has been settled at an amount of Rs. 119.00 Lakhs and thus exceptional income item of Rs. 24.90 Lakhs has been booked in Quarter III of FY 2022-23.
    1. The previous year / period have been regrouped/ rearranged wherever found necessary.

  • The above results are also available on Company website www.simplexcastings.com and also on the website of BSE and CSE.

Date: 11.02.2023 For Simplex Castings Limited Place: Bhilai Ae =, cr Sangeeta K Shah ging Director

OFFICE ADDRESS PHONE FAX E-MAIL Regd. Office : 601/602 A, FAIRLINK CENTER, OFF ANDHERI LINK ROAD, ANDHERI (W), MUMBAI -53 022-40034768 [email protected] Kolkata : 119, PARK STREET, WHITE HOUSE 4" FLOOR KOLKATA - 700016 (W.B.) INDIA 08961045611 033-22493251 [email protected] Bhilai (Plant) : 5, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA 0788-4015273 0788-4034188 _ [email protected]

Rajnandgaon (Plant): —223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 491441(C.G.) INDIA 9203901697 0788-2285664 [email protected]

Simplex Castings Ltd.

SiMPLEX Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India 8 | SH) Phone : +91-788-2290483 /84 /85 Fax; +91-788-2285664

The particulars of appointment of M/s Divanshu Mittal & Associates, Company Secretaries as the Secretarial Auditor of the Company for FY 2022-2023, are as under:

Simplex
Castings		 qganagemenr
grandards
"Ys,
wy"
Ltd.
Y% %,
Cy
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&
6
SiMPLEX
SH)		 : +91-788-2290483 /84 /85
Phone		 Certifieg 6 y
2009
9001
Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India 8
Fax; +91-788-2285664
9
E-Mail : [email protected]
CIN : L27320MH1980PLC067459		 — bsi.
Website : www.simplexcastings.com
No. CIR/CFD/CMD/4/2015 dated 9th September, 2015. Details as required under Regulation 30 of the SEBI (LODR), Regulation, 2015 read with Circular
Secretarial Auditor of the Company for FY 2022-2023, are as under: The particulars of appointment of M/s Divanshu Mittal & Associates, Company Secretaries as the
Reason
for		 Change
Appointment, Appointment
Viz.,
Resignation, removal, death or otherwise;		 Divanshu
M/s
&
Mittal
of
Company
Associates,
Secretaries
the
as _
Secretarial Auditor of the Company.
Date of Appointment 11.02.2023, to conduct secretarial audit for the
Financial Year 2022-2023.
Profile More than eight years of professional experience
in the field of Company Law & SEBI Guidelines
exposure
and regulatory
having
affairs
into
all
gamut of Company Secretarial Services.
Disclosure of relationships between directors (in Not Applicable
case of appointment of a director).
gy,
OFFICE ADDRESS
Regd. Office 601/602 A. FAIRLINK CENTER, OFF ANDHERI LINK ROAD

OFFICE ADDRESS PHONE FAX Regd. Office : 601/602 A, FAIRLINK CENTER, OFF ANDHERI LINK ROAD, ANDHERI (W), MUMBAI -53 022-40034768 Kolkata : 119, PARK STREET, WHITE HOUSE 4" FLOOR KOLKATA - 700016 (W.B.) INDIA 08961045611 033-22493251 Bhilai (Plant) : 5, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA 0788-4015273 — 0788-4034188

Rajnandgaon (Plant): — 223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 491441(C.G.) INDIA 9203901697 0788-2285664

E-MAIL

[email protected] [email protected] [email protected] [email protected]

e e gh etandaras Sys, Simplex Castings Ltd. oe é

The particulars of re-appointment of M/s Harshit Malviya & Associates, Chartered Accountants as the Internal Auditor of the Company for the Financial Year 2023-24, are as under:

e
e		 gnadeMens
gh etandaras
Sys,
Simplex
Castings		 Ltd.
oe
é
Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India 3%
\
: +91-788-2290483 /84 /85
Phone		 : +91-788-2285664
%
Fax
bsi Sl.
E-Mail : [email protected]
CIN : L27320MH1980PLC067459		 Website : www.simplexcastings.com
"wo
Disclosures
as		 Regulation
under
required
30
Requirements) Regulations, 2015		 SEBI
Obligations
Disclosure
(Listing
and
of the
the Internal Auditor of the Company for the Financial Year 2023-24, are as under: The particulars of re-appointment of M/s Harshit Malviya & Associates, Chartered Accountants as
Reason Change
Viz.,		 Appointment, Reappointment: to Comply with the Companies
Resignation, removal, death or otherwise;
Date of Appointment		 Act, 2013
conduct
11.02.2023,
internal
audit
for
the
to
Financial Year 2023-24.
Profile Malviya
M/s
Harshit
& Associates,
have
they
experience
years
areas
of internal
of 7
the
in
and
indirect
taxation,
project
audit,
direct
financing.
Disclosure of relationships between directors (in Not Applicable
case of appointment of a director).

OFFICE

Regd. Office Kolkata Bhilai (Plant)

Rajnandgaon (Plant) : ADDRESS PHONE FAX E-MAIL 601/602 A, FAIRLINK CENTER, OFF ANDHERI LINK ROAD, ANDHERI (W), MUMBAI -53 022-40034768 [email protected] 119, PARK STREET, WHITE HOUSE 4" FLOOR KOLKATA - 700016 (W.B.) INDIA 08961045611 033-22493251 — [email protected] 5, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA 0788-4015273 — 0788-4034188 _ [email protected]

223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 49144 1(C.G.) INDIA 9203901697 0788-2285664 [email protected]

Simplex Castings Ltd. e ' Certifiog 6 a,

SF qnanagement } Phone : +91-788-2290483 /84 /85 Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India & Fax: +91-788-2285664 2 b e

Disclosures as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

qnanagement }
Castings
Simplex		 '
e
Ltd.
RS) se Bandards
St
3 iS
&
SF
: +91-788-2290483 /84 /85
Phone
E-Mail : [email protected]		 Certifiog 6 a,
Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India &
b
Fax: +91-788-2285664
oO.
e
2
Sl.
Se
Website : www.simplexcastings.com
CIN : L27320MH1980PLC067459
Regulation
Disclosures
required
under
30
as
Requirements) Regulations, 2015		 SEBI
Disclosure
Obligations
(Listing
and
of the
Reason
change
Resignation
for
viz.
appointment,
removal,
resignation,
death
or
otherwise;		 Resignation:
pursue
alternate
career
To
Akanksha
Kotwani
Mrs
opportunities,
has
Company
from
resigned
position
the
of
Compliance
Secretary
&
Officer
of
the
Company with effect from
11" February, 2023
(close of business hours).
Appointment:
Appointment
Mrs
Pooja
of
(Mem
Company
A42186
Jethmal
No
—
as
)
Compliance
Secretary
&
Officer
of
the
Company with effect from
12" February, 2023.
Further, pursuant to provisions of Section 203 of
Companies
Mrs
Pooja
Jethmal
2013,
Act,
the
designated
Key
been
one
has
also
of
the
as
Managerial Personnel of the Company.
Date of Appointment
Profile Please refer sr. no. 4 as mentioned above.
member of
Mrs
Pooja Jethmal
associate
an
is
of Company
The
Secretaries
of India
Institute
possessing requisite qualification and skills for
She is also holding Law Degree
said post.
the
and has knowledge and experience in corporate
legal & secretarial services.
Disclosure of relationships between directors (in
case of appointment of a director).		 Nil

FFICE ADDF
(0.1)(0.0)

OFFICE ADDRESS PHONE FAX E-MAIL Regd. Office 601/602 A, FAIRLINK CENTER, OFF ANDHERILINK ROAD, ANDHERI (W), MUMBAI -53 022-40034768 [email protected] Kolkata : 119, PARK STREET, WHITE HOUSE 4" FLOOR KOLKATA - 700016 (W.B.) INDIA 08961045611 033-22493251 [email protected]

Bhilai (Plant) : 5, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA 0788-4015273 0788-4034188 — [email protected]

Rajnandgaon (Plant) : 223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 491441(C.G.) INDIA 9203901697 0788-2285664 _ [email protected]

PHUNE FAA
22-40034768
8961045611 $033 - 22$
1788-4015273 0788-4

Simplex Castings Ltd.

Disclosures as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 '

apanagemenr
Simplex
Castings		 Ske,
yandards Sn!
m
Ltd.
we
%,
Corporate Office : 32,Shivnath Complex G.E. Road, Supela, Bhilai - 490023 (C.G) India
: +91-788-2290483 /84 /85
Phone
E-Mail : [email protected]		 ¢ 9001:209, 8
: +91-788-2285664
Fax
—bsti.
Q eS
Website : www.simplexcastings.com
Disclosures
as		 CIN : L27320MH1980PLC067459
Regulation
under
required
30
Requirements) Regulations, 2015		 SEBI
Obligations
Disclosure
(Listing
and
of the
'
Reason
for
appointment,
otherwise;		 change
Resignation
viz.
removal,
resignation,
death
or		 Om
Due
Medical
Mr
Resignation:
Issue
to
,
Prakash Patel
has resigned from the position of
Company
Whole
Time
Director
with
of
the
from
February,
2023
11"
(close
effect
of
business hours).
Date of Appointment
Not Applicable
Profile Not Applicable
Disclosure of relationships between directors (in Nil
case of appointment of a director).

You are requested to take the above on your records.

Thanking you.

Yours faithfully,

For, Simplex Castings.Limited _

OFFICE ADDRESS PHONE FAX E-MAIL
Regd. Office 601/602 A, FAIRLINK CENTER, OFF ANDHERI LINK ROAD, ANDHERI (W), MUMBAI -53 022-40034768 [email protected]
Kolkata 119, PARK STREET, WHITE HOUSE 4" FLOOR KOLKATA - 700016 (W.B.) INDIA 08961045611 033-22493251 [email protected]
Bhilai (Plant) 5, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA 0788-4015273 — 0788-4034188 _ [email protected]
Rajnandgaon (Plant): — 223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 491441(C.G.) INDIA 9203901697 0788-2285664 [email protected]

Regd. Office 601/602 A, FAIRLINK CENTER, OFF ANDHERI LINK ROAD, ANDHERI (W), MUMBAI -53 022-40034768 [email protected] Kolkata 119, PARK STREET, WHITE HOUSE 4" FLOOR KOLKATA - 700016 (W.B.) INDIA 08961045611 033-22493251 [email protected] Bhilai (Plant) 5, INDUSTRIAL ESTATE, BHILAI - 490026 (C.G.) INDIA 0788-4015273 — 0788-4034188 _ [email protected]

Rajnandgaon (Plant): — 223/2,224 INDUSTRIAL ESTATE, TEDESARA, RAJNANDGAON - 491441(C.G.) INDIA 9203901697 0788-2285664 [email protected]

PHONE

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

To,

The Board of Directors of Simplex Castings Limited

We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of Simplex Castings Limited ('the Company') for the quarter ended 31st December, 2022, being submitted by the company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time.

This statement, which is the responsibility of the Company's Management and has been approved by the Company's 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 ('the Act'), SEBI Circular CIR/CFD/FAC/62/2016 dated 5th July, 2016, (herein after referred to as 'the SEBI Circular'), and other accounting principles generally accepted in India. 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 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. 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 specified under section 143(10) of the Act, 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.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, the SEBI Circular, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.

For APAS & Co. LLP Chartered Accountants FRN- 000340C/C400308

RAJDEEP SINGH Digitally signed by RAJDEEP SINGH

Date: 2023.02.11 16:30:53 +05'30'

Rajdeep Singh Partner Membership No- 415549 UDIN- 23415549BGWLIM8649

Bhilai, 11-02-2023

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Regulatory Filings 2026
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