To, The Manager, The BSE Limited, Corporate Relationship Department, Phiroze Jeejeebhoy Towers, . Dalal Street, Mumbai -400 001.

Sub: Outcome of Board Meeting - Wednesday, July 29, ²⁰²⁰ - Approval of Audited Financial Results for the quarter and year ended March 31, ²⁰²⁰ and recommendation of dividend.

Dear Sir/Madam,

Pursuant to Regulation ³³ read with Regulation ³⁰ of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that the Board of Directors of the Company at its meeting held today, inter alia, has:

1. Approved the Audited Financial Statements for the year ended March 31, ²⁰²⁰ and the Audited Financial Results for the quarter and year ended March 31, 2020, as recommended by the Audit Committee.

2. Recommended dividend of ⁷ .5% viz. 0.75 per equity share (face value of Rs.10 each) for the financial year ended March 31, 2020.

The Board meeting commenced at 11.00 a.m. and concluded at 12.15 p.m.

We hereby enclose the following:

a. Copy of Audited Financial Results of the Company for the quarter and year ended March 31, ²⁰²⁰ along with Statement of Assets and Liabilities and Statement of Cash Flow as at March 31, 2020; and

b. Copy of Auditors Report with unmodified opinions on the audited Financial Results;

c. Declaration from the Managing Director with respect to unmodified opinion on financial results, received from the Statutory Auditors of the Company.

The necessary information with regard to the date of Annual General Meeting for the year ended March 31, ²⁰²⁰ and the date from which dividend, if approved by shareholders, will be paid or warrants thereof dispatched to the Shareholders, will be informed in due course;

Kindly take the above information on record and acknowledge receipt of the same.

Thanking You,

Yours faithfully, \ ?'c\ii?? ^r olitai Machine_T?oB?s'ttd---..:;?'::,'\ ;t.o( ,,(' -??t?AD0D,\R,/ ^J)1 ,,i>.:--.. _ _/.c? Hemandra ^J Badani , '\ "' ,,.f'

Managing Director \?-??:::··' Encl: as above

CIN No. L28932MH1967PLC013747 Date- 29/07/2020 Place- Vadodara

Office: 3/A, Arun Chambers, Tardeo Rd., Mumbal-400 034. INDIA. Tel.: 022-66602156 Reply to: Plant ^I : 292, Dharamslnh Desai Marg, Chhanl Road, Vadodara-390 024. INDIA Mob.: ^{99044 08538} E-mall: [email protected] Plant II: A·24/25, Krishna Industrial Estate, Near B.I.D.C., Gorwa, Vadodara • ³⁹⁰ 016. E-mall: [email protected] Website : www.smtgrinders.com

SOLITAIRE MACHINE TOOLS LIMITED REGD OFFICE:B-3A ,ARUN CHAMBERS,TARDEO ROAD,MUMBAl-400034 CIN No: L2S932MH1967PLC013747

Tel: 02266602156-, Email:- [email protected]

STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020

1.The Audited Standalone Financial Results have been prepared in accordance with the recognition and measurement principles provided in Indian Accounting Standards (Ind AS 34), the provisions of Companies Act, 2013 (the Act), as applicable and guidelines by the Securities and Exchange Board of India (SEBl),underSEBI (Listing Obligation & Disclosure Requirements) Regulation 2015, as amended. 2. The above results have been reviewed and recommended by the audit committee and approved by the Board of Directors at their meeting held on 29/07/2020

3.ln accordance with the Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015, the above financial reults of the Company are posted on Company's website viz www.smtgrinders.com and will also appear on the website of BSE, whenever uploaded by them. 4.The Company opearates in ^a single segment only.

⁵ The Board of Directors have recommended dividend of % (viz Re 0.00 per share having face value of Rs.10/- each) subject to approval of shareholders in the ensuing Annual General Meeting. 6.Figures of the previous period/Year have been regrouped to conform to current year's classification. Further in view of the amalgmations described in note no.7 below, the figures of the current year are not comparable with those of the previous year.

7 Pursuant to Scheme of Amalgmation ( "the Scheme") of Shruchi Manufacturing Company Limited (Transferor Company) with Solitaire Machine Tools Limited ( Transferee Company ) sanctioned by Hon'ble National Law Tribunal (NCLT)on 29-4-2020, all the assets and liabilities of the transferor company are transferred, in the books of transferee company, at the value appearing in the books of Account of Shruchi Manufacturing Company Limited as on appointed date ie 01-4-2017

1. The Company has assesed the impact of Covid-19 on the financial statements,business operations, liquidity position,cashflows, and has concluded that no material adjustments are required in the financial results. The Company will continue to monitor the impact of COVID-19 and any material changes to future economic conditions ?-==? ........ '?ri,-!Mr:-?? For Solit;iiret . cliiQ_e, ?Is Ltd

Place: Vadodara Date: 29/07/2020

?.,,. (," ./ ^y . ?? _'· ??We,;.;n?;a J;?allani Vice Chairman?arid, Managin?'o;Vector ?_,---D[flj:01f.i43330

SOLITAIRE MACHINE TOOLS LIMITED

Statement of Audited Standalone Assets and Liabilities (Rs.in Lacs)

Place-Vadodara Date-29/07/2020 For Solitaire IVIA

EXAMPLE

EXAMPLE

Hemendra J Badani

Vice Chairman and Managung Director

DIN:00143330 For Solitaire Machine Tools Itd In

L - 2. Haridwar - 1. Evershine Nagar. Malad (W), Mumbai - 400064. Mobile: 99870 06258 / 9821056258 Email: [email protected]

INDEPENDENT AUDITOR'S REPORT ON QUARTERELY STANDALONE FINANCIAL RESULTS AND YEAR TO DATE RESULTS OF THE COMPANY PURSUANT TO 33 OF SEBI (LISTING OBLIGATIONS AND REGULATION DISCLOSURES REQUIREMENTS) REGULATIONS 2015.

To. The Board of Directors of Solitaire Machine Tools Limited

Opinion

We have audited the accompanying Statement of Standalone Financial Results of SOLITAIRE MACHINE TOOLS LIMITED ('the company') for the quarter and year ended 31^st March. 2020 (the statement), attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Requiations, 2015, as amended('the Requiation').

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 Regulations; and
• b. gives a true and fair view in conformity with Indian Accounting Standard 34"Interim Financial Reporting", (Ind AS 34") prescribed under section 133 of the Companies Act. 2013 (the Act") read with relevant rules issued there under and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the company for the quarter and year ended 31^st March, 2020.

Basis for Opinion

We conducted our audit of the statement in accordance with the standards on Auditing ("SA"s) specified under section 143(10) of the Act. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit and Standalone 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 standalone Financial Results under the provisions of the Act and the Rules there under. 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.

Kolkala (H.O.): 5/4. Cilve Row, 4th Floor, Room No.116, Kolkala - 700001. Ph. No. (033) 32903554 / 9839227650 Email: alayshopha.co. Vapi Off.: 301. Krishna Kuni Complex. Obp.: Saliara Market. Vapi Silvassa Rd., Vapi - 396191. Mdb. 9426428492. Email: ajayshobha.co:ago

$-2$ , Haridwar - 1, Evershine Nagar, Malad (W), Munibai - 400064. Mobile: 99870.06258 / 9821056258 Email: [email protected]

Management Responsibilities for the Standalone Financial Results

This Statement is the responsibility of the Company's management and approved by the Board of Directors, has been compiled on the basis of standalone financial statements for the year ended 31^st March 2020. The Company's Board of Directors are responsible for the preparation and presentation of the standalone Financial Results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, read with relevant rules issued there under 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 accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true a fair view and is free from material misstatements whether due to fraud or error.

In preparing the Standalone Financial Results the Board of Directors are responsible for assessing the Company's ability to continue as 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 responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities for the Audit of Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Standalone 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 aggregate they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results.

Kolkata (H.O.): 5/4, Clive Row, 4th Floor, Room No.116, Kolkata - 700001. Ph. No. (033) 32903554 / 9830222650. Email. ajayshonna.co ikgmail.com Vaul Off.: 301. Krishina Kuni Complex, Opp. Sahara Market, Vaul Silvassa Rd., Vapi 396191. Mob. 9426426492. Email: ajayshoona cu4comail.com

•

L • 2. Baridwar • 1, Evershino Nagar. Malad (W).Mombm • 400064 Mobile; 99870 06258; 9821056258 Email: ajaysllobha.co;e;·gmaiLcom •

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

• Identify and .assess the risks of material misstatement of the Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, a.nd obtain audit evidence that is sufficient and appropriate to provide ^a basis for our opinion. The risk of not detecting ^a material misstatement resultingfrom fraud is higher than for one resulting from error ,as fraud involve collusion, forgery, intentional omission misrepresentations or the override of Internal control.
• Obtain an understanding of internal financial controls relevant to the audit in order to design audit ·procedurethat are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
• Evaluate the appropriateress.of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures by the Board of Directors in terms of the requirements specified under regulation 33 of the Listing Regulations. ·
• Conclud1; the appropriateness of the Board of Directo.rs use of the going concern ba,sis of accoul)ting and based on th!! i,udit evidence obtained, whether ^a material uncertainty exists related to events or conditions that may cast significant doubts on the abilityof· the C\Jmpanyto continue .as going concern. If we conclude that ^a material uncertaintyexists.we are requiredto draw attention in our auditor's report to the related disclosuresin the statement or, if such disclosures are inadequate, to modify our opinion.Our conclusion is based on the audit evidence obtained up to the d,ilte of our auditor's r?port,,However futwe events or conditions may cause the Company to cease to continue as ^a going concern.
• Evaluate the overall presentation, structure and content of Standalone Financial Res?lts, including the disclosures:and whether the Standalone Financial Results represent th.e underlying transactions and events in ^a manner that achieves fair presentation.
• Obtain sufficient approi:iriateaudit evidence regarding the Standalone Financial results of.the Coinpany'toexpress an opinion on the Standalone Financial Results.

Kolkala (H.O.j:5i4, ChjaBow,4lll Floor,Room No.116.Kollala • 700001. Ph. No.(033)3?9035\$4 ^I 96301.2W5ll [ma,I a1aysllol1harn•,omaJ ''"' Vapl 011.:301.KfishoaKuojComplex.Opp.S;haraMarkel. VapiSilvassa Rd.,Vau,· 396191. Mob: 9426426-192.Email.aia1?noona.colt?ma1Lcom

L-2. Haridwar - 1. Evershine Nadar. Malad (W). Mumbai - 400064. Mobile: 99870 06258 / 9821056258 Email: [email protected]

We communicate 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 31^st March 2020 being the balancing figure between the audited figures in respect of the full financial year ended 31^st March, 2020 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to limited review by us, as required under the Requiations.

For Ajay Shobha & Co. Chartered Accountants Firm Registration No. 317031E

(Ajay Gupta) Partner. Membership No.053071 UDIN: 20053071AAAADQ6851

Place: Mumbai Date: 29.07.2020

Kolkata (H.O.): 5/4, Cive Row, 4th Floor, Room No.116, Kolkata - 700001. Ph. No. (033) 32903554 / 9830222650; Email: [email protected] Vapt Off.; 301; Kristina Kuni Cornolex, Opp. Saltara Market, Vapt Savassa Rd., Vapt -396191; Mob. 9426426492. Email: ajayshoona.comamail.com

Declaration with respect to Unmodified opinion

We declare that the statutory auditors of the Company M/s Ajay Shobha & Co., Chartered Accountants, have issued the audit report with an unmodified opinion in respect of the Audited Financial results of the Company for the year ended March 31, 2020.

Kindly take the above information on record.

Thanking you,

Managing Director (DIN: 00143330) Yours faithfully, ^F olitai ^e Machine Too(.?JN? /; 7-c:::;f;\ ?::(' ??)\ Hemandra Badani ', ? \VADODA'!A ^G/ -:S, '\:",,' ,,.7'7/t '-.....---'-Y" ?, '

Date : 29/07/2020

CIN No. L2S932MH1967PLC013747

Office: 3/A, Arun Chambers, Tardeo Rd., Mumbal-400 034. INDIA. Tel.: 022-66602156 Reply to: Plant ^I : 292, Oharamstnh Desai Marg, Chhani Road, Vadodara-390 024. INDIA Mob.: ^{99044 08538} E-mail: [email protected] Plant II: A-24/25, Krishna Industrial Estate, Near B.1.0.C., Gorwa, Vadodara • ³⁹⁰ 016. E-mail: [email protected] Website: www.smtgrlnders.com