Triveni Engineering & Industries : Results announcement for Q1 FY 19

55KOTHARI MEHTA&(0

Plot No. 68, Okhla IndustrialArea, Phase- III,

New Delhi-l1 0020

CHARTERED

ACCOUNTANTS

Phone : +91- 11-4670 B88R

E-mail :delhi@sskll1ill.colTl

Website:www.sskrnin.com

INPE~ENDENTAUDITORS' UMITED REVIEW REPORT ON UNAUDITED STANDALONE FlNANOAL RESULTS

To

The Board of Directors of

Triveni Engineering&Industries Limited

We have reviewed the accompanying Statement of unaudited standalone financial results of Triveni Engineering&Industries Limited ("the Company") for the quarter ended June 30, 2018 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No OR/CFD/FAC/62/2016 date July 5, 2016.

This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" nnd AS 34"), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report 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 Performedbythe Independent Auditor of the Entityissued 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 Statements is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus ,~rovides less assurance than an audit. We have not performed an audit and, 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 of unaudited standalone financial results prepared in accordance with the applicable Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBICircular No OR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

The unaudited standalone financial results of the Company for the quarter ended June 30, 2017 included in the S·aternent were reviewed by the predecessor auditors who issued their unmodified review report dated August 10,2017. Our review report is not modified in respect of this matter.

Harish Gupta

Partner

MembershipNo.098336

Place: New Delhi

Dated: 01/08/2018

TRIVENI ENGINEERING&INDUSTRIES LIMITED

Regd. Office: Deoband, Distt. Saharanpur, Uttar Pradesh 247 554

Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201301

CIN: L15421UP1932PLC022174

Statementof StandaloneUnauditedFinancial Results for the Quarter ended June 30, 2018

(f in lakhs, except per share data)

.'

3Monthsended

Year endedParticulars

(refer note 3)

1

Revenue from operations (refer note 4)

• 2 Other income

  Total income

• 3 Expenses

• (a) Cost of materials consumed

• (b) Purchases of stock-in-trade

(c)Lhanges In mventories ot nrusneu goods, stock-m-tradework-in-progress

(d)Excise duty on sale of goods (refer note 4)(e) Employee benefits expense

(f) Finance costs

• (g)Depreciation and amortisation expense

• (h)Off-season expenses (net) (refer note 2)

(i) Other expenses

Total expenses

• 4Profit/(Ioss) from continuing operations before exceptional

• 5 Exceptional items (net) - income/ (expense)

• 6 Profit/(Ioss) from continuing

• 7 Tax expense

  (a)Current tax(b) Deferred taxTotal tax expense

• 8 Profit/Closs) from continuing

9

operations before taxoperationsProfit/ (loss). from discontinued operations

• 10 Tax expense of discontinued operations

  after tax

• 11 Profit/ (loss) from discontinued operations (after tax)

• 12 Profit/Closs) for the period

• 13 Other comprehensive income

A(i) Items that will not be reclassified to profit or loss

anditems

A(ii)Income tax relating to items that will not be reclassified toprofit or loss

B(i) Items that will be reclassified to profit or loss

70660532 7119254051475

-5098

(1783)

2275

1406

(3111)

8608

67019

4173-

.

73479713 74192140429577

(79427)

-

5866

2067

1395

7340

10159

88406

(14214)-

814315943--

4173

913

84429341238240 2408

84669343646

17374 258145

366 1674

43487(866)

41684168

446120240

36798534

13745537

(4505)-

612230271

76526327703

(14214)

814315943

(124)

789

3384

(3492) 230 (3262)(10952)-

1768 3204

5561765

• --

  23244969 581910974

• - --

• ---

3384

--

- --

(10952)

581910974

186-186

64

-64

----

B (ii)Income tax relating to items that will be reclassified to profit or----loss

Other comprehensive income for the period, net of tax

• 14 Total comprehensive income for the period

• 15 Paid up Equity Share Capital (face value ~1/-)

  --

  122 122

  33842579

  ..-

  (10830) 2579

  58191109625792579

• 16 Other Equity 85507

• 17 EarningsI(loss) per share of ~II -each (not annuaiised)

(a) Basic (in ~) (b) Diluted (in ~)Seeaccompanyingnotes to the standalone financial results

1.31 1.31

• (4.25)2.264.25

(4.25)

2.26 4,25

TRIVENI ENGINEERING&INDUSTRIES LIMITED

Standalone

Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter ended June 30, 2018

1Segment Revenue

(a)Sugar BusinessesSugar

Co-Generation

DistilleryPartfcullii'li "~O/Juri/lOl&

(b)EngineeringGearsBusinesses

Water

(e)Others

Total Segment revenue

Less: Inter segment revenue

Total Revenue from operations

2Segment Results

(a)Sugar BusinessesSugarCo-GenerationDistillery

(b)EngineeringGearsWaterBusinesses

(e)Others

Total Seament results

,

(" in lakhs)

)

3MonthS ended

,Year ended

31/Mai'lZOI8 '. 30/J.uri/lOI7 ,31/Mar/2018

.·.«()~audited) ,

(~uclited) ,(Unaudited) (Audited)

.....

>".i'

(refer note 3)

59622

5826775906 299964

5091 101163610 21516

4196 33984201 11589

68909

7178183717 333069

2075 3641 5716

41741391 11177

67463489 17567

109204880 28744

1526 76151 5491 70660

15801307 6087

8428189904 367900

108025475 26662

7347984429 341238

23272428 2159 6914

(17977)

10545 11559

47431370 9890

2024240 2674

(11210)12155 24123

410

1487 24617339

94 3142

(206)

(329 (1394)

204

(235) 1748

19

(16) 20

7137

(9468)11904 25891

Less:

• (i)Finance costs

• (ii)Exceptional items (net) - (income)1 expense

• (iii) Other unallocable expenditure net of unallocable income

Total Profit 1(loss) before tax

3Segment Assets

(a)Sugar BusinessesSugar

Co-Generation

Distillery

(b)EngineeringBusinesses

Gears

Wnter

Ie)Others

Total Segment assetsAdd. Unallocable assetsTotal Assets

4Segment Liabilities

(a)Sugar BusinessesSugarCo-GencrationDistillery

2275

2067

3679-8534

-689 4173

-2679(14214)

-

82 1414

8143 15943

222839172378

216827 216827

13650 1591414471 15914

248538

12049

1235716225 12357 245098203074 245098

12496

1434011532 14340

21124

2423021609 24230

33620

3857033141 38570

1699

17092185 1709

283857

285377238400 285377

10598

11297

8163 11297

294455

296674246563 296674

71487 595549368 59554

403 421293 421

964 836366 836

72854 6081110027 60811

(b)EngineeringBusinesses

Gears 2752

3346

1871 3346

Water

-

(e)Others

Total Segment liabilitiesAdd: Unallocable liabilitiesTotal Liabilities

/'1-11:.-:-""1368

1359

/''';:o'/-- ''''' :/)n..

I2r;!<;-"

.~~:

f~!

1::;-

11465 129229425 12922

14217 1626811296 16268

1843 1359

88439 114545 202984

78438

23166 78438

130150139811 130150

208588162977 208588

N'1.IJ../..-*.'Y...•.

-

"

:2.-

TRIVENI ENGINEERING&INDUSTRIES LIMITED

Notes to the Standalone Unaudited Financial Results for the Quarter ended June 30, 2018

• 1. In view of the seasonality to quarter.

  of the Sugar Business, the performanceresults may vary from quarter

• 2. For the purpose of quarterly financial results, off-season expenses of sugar and co-generation units have been deferred for inclusion in the cost of production of the relevant products to be produced in the remaining part of the year.

• 3. The figures for the quarter ended March 31, 2018 are the balancing figures between the audited figures in respect of the full financial year ended on that date and published year to date figures upto the third quarter of the said financial year.

  • 4. Goods and Services Tax ("GST") has been implemented with effect from July 1, 2017 and therefore, revenue from operations for the period thereafter are net of GST. Revenue from operations and expenses for the quarter ended June 30, 2017 being inclusive of excise duty are

  • not comparable with corresponding figures for the quarter ended June 30, 2018.

  • 5. Effective April 1, 2018, the Company has adopted Ind AS 115 "Revenue from Contracts with Customers" using the cumulative effect method. The standard is applied retrospectively only to contracts that are not completed as at the date of initial application and the comparative information is not restated. The adoption of the standard did not have any material impact on the financial results of the Company.

  • 6. During the current quarter, the Company has incorporated a wholly owned subsidiary "Mathura Wastewater Management Pvt. Ltd." as a special purpose vehicle to execute a project awarded under Namami Gange Programme.

  • 7. The above results were reviewed and recommended for adoption by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on August 1, 2018. The statutory auditors have carried out a limited review of the above financial results.

For Triveni Engineering&Industries Limited

~--.

Place: Mysuru

Dhruv M. Sawhney

Date : August 1, 2018

Chairman&Managing Director

~55 KOTHARI MEHTA&CO

Plot No. 68,

Okhla Industrial Area, Phase-Ill, New Delhi·11 0020

'CHARTERED

ACCOUNTANTS

Phone :+91·11·4670HililBE·mail :delhi@sskl11in.coll1Website:www.sskmin.com

INDEPENDENT AUDITORS' UMITED REVIEW REPORT ON UNAUDITED CONSOUDATED FINANCIAL RESULTS

To

The Board of Directors of

Triveni Engineering&Industries Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Triveni Engineering&Industries Limited ("the Company") comprising its subsidiaries (together referred to as 'the Group') and its associates, for the quarter ended June 30, 2018 ("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 modified by Circular No CIR/CFD/FAC/62/2016 date July 5, 2016.

• 2. This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 133 of the Companies Act. 2013 read with relevant rules issued thereunder and other accounting principles gl,1erally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

3. The Statement includes the Financial Results of the following entities:

Subsidiaries:

Associates:

• a. Triveni Turbine Limited

b. Aqwise-Wise Water Technologies Limited

• 4. 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statements is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

  e Group's share of net profit (before other comprehensive income) of Rs. 329 Lakhs and other
  	",j."	M~1y
  p:ehensive income / (loss) of Rs..(-) 37 ~akhs for th.e quart~r ended June 30, 201~, in respect of one
  		T
  ~~~:.'

  ~-'\~"'Rl

• 5. We did not review the Financial Statements/ financial information of seven subsidiaries included in the Statement, whose Financial Statements/ financial information reflect total revenue (including other income) of Rs. 1.02 takns, Loss of Rs. 2.42 Lakhs for the quarter ended June 30, 2018. The Statement also includes

..

1k~}j'Clate. The Company has not considered Its share01Income In respect DIone associate lor the quarter

~'~~~'-.:;/=~,~~