Audited Financial Results - 31.03.2018
AUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDED 31st MARCH 2018
Rs. lacs
  Particulars For the Quarter / three months ended For the Year ended
31.03.2018 31.12.2017 31.03.2017 31.03.2018 31.03.2017
(UnAudited) (Audited)
             
  Income from Operations          
1 Revenue from Operations (Refer Note No. 3) 6,963.65 5,928.68 5,981.69 25,049.81 24,514.15
2 Other Income 123.21 26.15 4.14 331.63 166.97
 3  Total Revenue            7,086.86            5,954.83               5,985.83                25,381.44         24,681.12
4 Expenditure          
  (a) Cost of materials consumed 3,330.07 3,079.27 2,496.76 12,068.65 10,897.27
  (b) Excise Duty (Refer Note No. 3)  -  - 464.89 352.02 1,761.13
  (c) Changes in inventories of finished goods and work-in-progress 169.14 -241.91 15.09 -82.72 -579.74
  (d) Employee benefits expense 1,208.40 1,114.40 1,032.45 4,562.64 4,515.05
  (e) Finance cost 63.65 45.36 56.34 189.11 281.35
  (f) Depreciation and amortisation expense 102.71 109.61 108.92 430.61 537.98
  (g) Other expenses 2,049.46 1,793.13 1,733.83 7,333.66 6,970.81
5 Total Expenses ( a ... g ) 6,923.43 5,899.86 5,908.28 24,853.97 24,383.85
6 Total Profit/ (Loss) before Exceptional items and Tax (3-5) 163.43 54.97 77.55 527.47 297.27
7 Exceptional item:           
  Ex-gratia to employees under Voluntary Retirement Scheme 151.95                      -   57.75                     151.95              154.00
8 Profit / (Loss) Before Tax (6 - 7) 11.48 54.97 19.80 375.52 143.27
             
9 Tax expense          
  - Current Tax -3.00 7.00 - 66.25  -
  - Previous Year's Tax  -  - -  -  -
  - Deferred Tax -86.19 -6.38 -82.97  (67.22)  (32.67)
             
10 Profit/ (Loss) for the period from continuing operations (8 - 9)               100.67                 54.35                  102.77                     376.49              175.94
11 Profit/ (Loss) for the period from discontinued operations, if any                       -                        -                           -    -  -
12 Profit/ (Loss) for the period (10 + 11)               100.67                 54.35                  102.77                     376.49              175.94
13 Other Comprehensive Income           
  a)     (i) Item that will not be reclassified to Profit & Loss -35.29 20.98 -6.40                       (9.90)  (20.18)
  (ii) Deferred Tax relating to item that will not be reclassified to Profit & Loss 9.87 -6.48 -8.18                         2.02  (3.92)
  b)     (i) Item that will be reclassified to Profit & Loss 0.18 0.00 0.41                         0.18 0.41
  (ii) Income Tax relating to item that will be reclassified to Profit & Loss                       -                        -                           -                              -                        -  
14 Total Comprehensive Income (12+13)                 75.44                 68.85                    88.59                     368.79              152.25
15 Paid up Equity Share Capital-Face Value-Rs.10/- each               393.46               393.46                  393.46                     393.46              393.46
16 Reserves excluding Revaluation Reserve as per balance sheet of accounting year                        7,072.05           6,703.26
17 Earnings Per Share  (EPS) - in Rs.          
  a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.                   2.56                   1.38                      2.61                         9.57                  4.47
  b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.                   2.56                   1.38                      2.61                         9.57                  4.47
 
Notes :   
1 Statement of Assets and Liabilities (Audited):
As at 31.03.2018
As at 31.03.2017
    Rs. In Lacs Rs. In Lacs
A ASSETS        
1 Non-current Assets        
  (a) Property, Plant and Equipment 6,713.15   7,063.61  
  (b) Capital work-in-progress  -    -  
  (c) Investment Property 37.40   37.67  
  (d) Other intangible Assets  -    -  
  (e) Intangible assets under development  -    -  
      6,750.55   7,101.28
           
  (f) Financial Assets        
                      i. Investments 2.58   2.47  
                      ii. Other financial assets 22.75   8.01  
  (e) Non Current tax assets (Net)  -    -  
  (f) Other Non-Current Assets 645.00   622.55  
      670.33   633.03
  Sub-total - Non-current Assets   7,420.88   7,734.31
2 Current Assets        
  (a) Inventories 3,286.39   2,978.37  
  (b) Financial Assets        
                 i. Trade Receivables 5,266.36   4,390.61  
                 ii. Cash and cash equivalents 357.96   361.39  
                iii. Other financial assets 51.65   86.23  
  (c) Other Current Assets 605.83   442.46  
  Sub-total - Current Assets   9,568.19   8,259.06
  TOTAL - ASSETS   16,989.07   15,993.37
B EQUITY AND LIABILITIES        
           
1 Equity        
  (a) Equity Share Capital 393.46   393.46  
  (b) Other Equity 7,072.05   6,703.26  
  Sub-total - Shareholders' funds   7,465.51   7,096.72
  LIABILITIES        
2 Non-current liabilities        
  (a) Financial Liabilities        
                 i. Borrowings 0.00   0.00  
  (b) Provisions 103.13   107.17  
  (c) Deferred Tax Liabilities (Net) 1,173.65   1,240.87  
  (d) Liabilities for Tax (Net) 1,084.13   779.87  
  Sub-total - Non-current liabilities   2,360.91   2,127.91
3 Current liabilities        
  (a) Financial Liabilities        
                    i. Short-term borrowings 3,021.66   3,017.03  
                    ii. Trade payables 3,006.01   2,519.34  
                    iii. Other Financial Liabilities 843.18   905.46  
  (b) Other current liabilities 261.32   301.56  
  (c) Provisions 30.48   25.34  
  Sub-total - Current liabilities   7,162.65   6,768.73
  TOTAL - EQUITY AND LIABILITIES   16,989.07   15,993.37
2 The operations of the Company relate only to one segment viz., friction materials. 
3 In accordance with the requirements of Ind-AS, Revenue from Operations (as indicated in Sl. No. 1) for the Quarters ended 31st March 2018 / 31st December, 2017  excludes Goods and Services Tax (GST). However, Excise Duty indicated for the financial year ended 31st March, 2018 represents Excise Duty for the quarter ended 30th June, 2017 as indicated in Sl. No. 4(b).
4 Compensation under Voluntary Retirement Scheme (VRS) for Workmen was paid during the quarter ended 31.03.2018, under which 28 workmen opted for the same. The total Compensation for VRS of Rs. 152 lacs has been shown as an Exceptional Item.
5 The above audited financial results were reviewed and recommended by the audit committee and approved by the Board of Directors at its meeting held on 29th May, 2018. The Statutory Auditors have carried out an audit for the year ended 31st March, 2018 and have issued an unqualified report thereon.
6 The above audited financial results of the Company have been prepared in accordance with (Indian Accounting Standards) ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated 5th July, 2016.
7 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
8 The figures for the last quarter are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial years ended 31.03.2018 / 31.03.2017. 
9 Prior period figures have been regrouped wherever necessary to confirm to current period classification.
On behalf of the Board
For SUNDARAM BRAKE LININGS LIMITED
Chennai
29th May 2018
KRISHNA MAHESH
MANAGING DIRECTOR
Visit our website: www.tvsbrakelinings.com