UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER 2020

In Lacs

	Particulars	Quarter Ended			Half Year Ended		For the Year ended
		30.09.2020	30.06.2020	30.09.2019	30.09.2020	30.09.2019	31.03.2020
		(Unaudited)			(Unaudited)		(Audited)
1	Revenue from Operations	6,128.29	3,049.57	5,912.57	9,177.86	13,239.44	25,814.17
2	Other Income	1.55	17.28	278.97	18.83	319.53	507.51
3	Total Revenue	6,129.84	3,066.85	6,191.54	9,196.69	13,558.97	26,321.68
4	Expenditure
	(a) Cost of materials consumed	2,659.90	1,305.52	3,232.50	3,965.42	6,632.08	12,357.96
	(b) Changes in inventories of finished goods and work-in-progress	325.21	179.32	-701.30	504.53	-458.82	-32.40
	(c) Employee benefits expenses	982.59	990.03	1,221.21	1,972.62	2,483.08	4,652.50
	(d) Finance cost	24.71	27.13	35.11	51.84	78.81	157.83
	(e) Depreciation and amortisation expense	130.29	136.98	128.49	267.27	250.78	542.33
	(f) Other expenses	1,606.73	958.32	2,319.72	2,565.05	4,445.12	8,343.33
5	Total Expenses ( a ... f )	5,729.43	3,597.30	6,235.73	9,326.73	13,431.05	26,021.55
6	Total Profit/ (Loss) before Exceptional items and Tax (3-5)	400.41	-530.45	-44.19	-130.04	127.92	300.13
7	Exceptional item:
	Ex-gratia to employees under Voluntary Retirement Scheme	-	-	-	-	-	-
8	Profit / (Loss) Before Tax (6 - 7)	400.41	-530.45	-44.19	-130.04	127.92	300.13
9	Tax expense
	- Current Tax	0.00	-	(10.89)	-	26.33	52.68
	- Deferred Tax	-28.80	4.73	2.80	(24.07)	11.14	-4.32
10	Profit/ (Loss) for the period from continuing operations (8 - 9)	429.21	(535.18)	(36.10)	(105.97)	90.45	251.77
11	Profit/ (Loss) for the period from discontinued operations, if any	-	-	-	-	-	-
12	Profit/ (Loss) for the period (10 + 11)	429.21	(535.18)	(36.10)	(105.97)	90.45	251.77
13	Other Comprehensive Income
	a)     (i) Item that will not be reclassified to Profit & Loss	0.00	-	(8.68)	-	-	(67.28)
	(ii) Deferred Tax relating to item that will not be reclassified to Profit & Loss	0.00	-	-	-	-	13.85
	b)     (i) Item that will be reclassified to Profit & Loss	-	-	-	-	-	0.00
	(ii) Income Tax relating to item that will be reclassified to Profit & Loss	-	-	-	-	-	-
14	Total Comprehensive Income (12+13)	429.21	(535.18)	(44.78)	(105.97)	90.45	198.34
15	Paid up Equity Share Capital-Face Value-Rs.10/- each	393.46	393.46	393.46	393.46	393.46	393.46
16	Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year						8,003.36
17	Earnings Per Share  (EPS) - in Rs.
	a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.	10.91	(13.60)	(0.92)	(2.69)	2.30	6.40
	b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.	10.91	(13.60)	(0.92)	(2.69)	2.30	6.40

	Statement of Assets and Liabilities as at 30th September 2020 as compared to previous year:				Rs. in lacs
	Particulars	As at 30.09.2020		As at 31.03.2020
		(Unaudited)		(Audited)
A	ASSETS
1	Non-current Assets
	(a) Property, Plant and Equipment	6,241.62		6,444.33
	(b) Right of use assets	275.62		277.25
	(c) Other Intangible Assets	135.11		12.69
	(d) Investment Property	36.50		36.68
	(e) Capital Work-in-progress	284.71		229.44
	(f) Intangible assets under development	12.60		88.59
			6,986.16		7,088.98
	(g) Financial Assets
	i. Investments	92.48		92.48
	ii. Other financial assets	12.36		15.70
	(h) Non-Current Assets (Net)
	(i) Other Non-Current Assets	348.18		343.15
			453.02		451.33
2	Current Assets
	(a) Inventories	3,196.42		3,770.65
	(b) Financial Assets
	i. Trade Receivables	5,142.65		5,260.19
	ii. Cash and cash equivalents	680.76		337.12
	iii. Other financial assets	29.04		59.07
	(c) Other Current Assets	852.12		930.99
			9,900.99		10,358.02
	TOTAL		17,340.17		17,898.33
B	EQUITY AND LIABILITIES
1	Equity
	(a) Equity Share Capital	393.46		393.46
	(b) Other Equity	7,897.37		8,003.36
			8,290.83		8,396.82
	LIABILITIES
3	Non-current liabilities
	(a) Financial Liabilities
	(i) Borrowings	306.00		0.00
	(b) Provisions	111.21		150.72
	(c) Deferred tax liabilities (net)	955.47		979.54
	(d) Liabilities for Tax  (Net)	1,063.73		1,064.20
			2,436.41		2,194.46
4	Current liabilities
	(a) Financial Liabilities
	i. Borrowings	1,735.58		2,400.99
	ii. Trade payables
	(A) total outstanding dues of micro enterprises and small enterprises	739.88		780.43
	(B) total outstanding dues of creditors other than micro enterprises and small enterprises	2,412.31		2,397.17
	iii. Other Financial Liabilities	1,443.91		1,387.15
	(b) Other current liabilities	260.20		320.26
	(c) Provisions	21.05		21.05
	(d) Liabilities for Tax  (Net)
			6,612.93		7,307.05
	TOTAL		17,340.17		17,898.33

	Cash Flow Statement for the Half Year ended 30th September 2020:				Rs. in lacs
		For the Half Year ended 30.09.2020		For the Half Year ended 30.09.2019
A.	CASH FLOW FROM OPERATING ACTIVITIES
	Profit / (Loss) before Tax	-130.04		127.92
	Adjustments for:
	Depreciation and Amortization	267.27		250.78
	Unrealised (Gain) / loss on Foreign Exchange Fluctuations (Net)	-1.71		72.43
	Profit / (Loss) on Sale of fixed assets	0.00		-0.83
	Advance writen off	0.00		171.73
	Payable written back	0.00		-211.65
	Provision for leave encashment	-39.51		5.00
	Interest Income	-4.62		-11.83
	Interest Expenses	51.84		78.81
	Cash Generated Before Working Capital Changes	143.23		482.36
	Movement In Working Capital
	Increase / (Decrease) in Trade Payables	-22.19		-233.24
	Increase / (Decrease) in Other Financial Liabilities	-136.17		66.50
	Increase / (Decrease) in Other Liabilities	-60.06		-4.55
	(Increase) / Decrease in Trade Receivables	104.30		852.77
	(Increase) / Decrease in Inventories	574.24		-33.86
	(Increase) / Decrease in Other Financial Assets	17.43		7.98
	(Increase) / Decrease in Other Assets	79.08		-443.05
	Cash Generated From Operations	699.86		694.91
	Direct Taxes Paid (net)	-0.47		-33.42
	Net Cash Flow From / (Used in) Operating Activities	699.39		661.49
B.	CASH FLOW FROM / (USED IN) INVESTING ACTIVITIES
	Purchase of PPE and Intangible Assets	-211.58		-257.75
	Proceeds from Sale of PPE	0.00		1.34
	Interest Income Received	20.56		20.75
	Net Cash Flow From / (Used in) Investing Activities	-191.02		-235.66
C.	CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES
	Proceeds from/(to) Short - Term Borrowings (Net) *	-653.68		-237.20
	Proceeds from Long Term Borrowings	550.00		0.00
	Interest Paid	-61.05		-78.81
	Net Cash Flow From / (Used in) Financing Activities	-164.73		-316.01
	Net Increase / (Decrease) in Cash and Cash Equivalents  (A+B+C)	343.64		109.82
	Cash and Cash Equivalents at the beginning of the year	334.78		384.32
	Cash and Cash Equivalents at the end	678.42		494.14
	Components of Cash and Cash Equivalents
	Cash and cheques on Hand	26.39		27.64
	Balances with Banks
	-On Current Accounts	651.93		166.50
	-On Deposit Accounts	0.10		300.00
	Cheques, Drafts on hand	0.00		0.00
	Cash and cash Equivalents	678.42		494.14
	Non cash Investment / Financing activities:
	*Foreign Exchange Movement	-11.73		20.14
	The above cash flow statement has been prepared under the 'Indirect Method' as set out in the Ind AS - 7 on Cash  Flow Statements.

Notes :
1	The operations of the Company relate only to one segment viz., friction materials.
2	The above unaudited financial results of the Company have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015.  These results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meeting held on 6th November, 2020. The Statutory Auditors have carried out a limited review for the quarter / half year ended 30th September, 2020 and have issued an unqualified report thereon.
3	The spread of COVID-19 has impacted global economic activity as has been witnessed in several countries. There have been severe disruptions in businesses in India during the Lock down period. Consequently, the Company’s manufacturing plants  had to operate under mandatory lockdown conditions during the quarter / half year ended 30th September, 2020. These conditions have significantly affected the revenues and results of the Company in the current half year.  The situation is evolving and the assessment of impact due to COVID-19 is a continuous process, given the uncertainties.
	Management has conducted the possible impact of known events arising from COVID-19 pandemic in the preparation of these financial results and has analysed events post Balance Sheet date and believes that there will not be any material effect on the carrying values of the assets and liabilities of the Company on the reporting date and there is no change in its ability to continue as a Going Concern.
4	Other Comprehensive Income mainly comprise of the impact on movement in fair value of Non-Current Investments in Equity and Remeasurement of Defined Plan Benefits
5	The figures for the previous period have been regrouped wherever necessary to conform to current period classification.

	On behalf of the Board For SUNDARAM BRAKE LININGS LIMITED
Chennai    6th November, 2020	KRISHNA MAHESH MANAGING DIRECTOR
Visit our website :   www.tvsbrakelinings.com