SUNDARAM BRAKE LININGS LIMITED
Audited Financial Results - 31.03.2019
Investor Information
AUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDED 31st MARCH 2019
Rs. lacs
  Particulars For the Quarter / three months ended For the Year ended
31.03.2019 31.12.2018 31.03.2018 31.03.2019 31.03.2018
(Audited) (UnAudited) (Audited) (Audited)
             
  Income from Operations          
1 Revenue from Operations (Refer Note No. 3) 7,157.73 7,120.13 6,963.65 28,625.86 25,049.81
2 Other Income 79.52 11.53 123.21 260.76 331.63
 3  Total Revenue            7,237.25            7,131.66               7,086.86                28,886.62         25,381.44
4 Expenditure          
  (a) Cost of materials consumed 3,557.73 3,878.47 3,330.07 14,636.76 12,068.65
  (b) Excise Duty (Refer Note No. 3) 0.00 0.00 0.00 0.00 352.02
  (c) Changes in inventories of finished goods and work-in-progress (68.50) (338.40) 169.14 (225.06) (82.72)
  (d) Employee benefits expense 1,321.74 1,308.83 1,208.40 5,171.85 4,562.64
  (e) Finance cost 37.41 47.07 63.65 164.93 189.11
  (f) Depreciation and amortisation expense 125.10 125.09 102.71 494.50 430.61
  (g) Other expenses 1,875.95 2,092.17 2,049.46 7,994.34 7,333.66
5 Total Expenses ( a ... g ) 6,849.43 7,113.23 6,923.43 28,237.32 24,853.97
6 Total Profit/ (Loss) before Exceptional items and Tax (3-5) 387.82 18.43 163.43 649.30 527.47
7 Exceptional item:           
  Ex-gratia to employees under Voluntary Retirement Scheme                    -   151.95                    -             151.95
8 Profit / (Loss) Before Tax (6 - 7) 387.82 18.43 11.48 649.30 375.52
             
9 Tax expense          
  - Current Tax 79.84 3.80 (3.00) 133.67 66.25
  - Previous Year's Tax (75.57) (1.15) (86.19)  (189.79)  (67.22)
  - Deferred Tax          
             383.55           15.78            100.67             705.42          376.49
10 Profit/ (Loss) for the period from continuing operations (8 - 9)                  -                    -                     -    -  -
11 Profit/ (Loss) for the period from discontinued operations, if any           383.55            15.78            100.67             705.42           376.49
12 Profit/ (Loss) for the period (10 + 11)          
13 Other Comprehensive Income  42.12 (2.47) (35.29)               34.71  (9.90)
  a)     (i) Item that will not be reclassified to Profit & Loss (8.50) 0.00 9.87              (7.15) 2.02
  b)     (i) Item that will be reclassified to Profit & Loss 0.00 0.00 0.18                    -   0.18
  (ii) Income Tax relating to item that will be reclassified to Profit & Loss                  -                    -                     -                      -                    -  
14 Total Comprehensive Income (12+13)           417.17            13.31            75.44             732.98          368.79
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                7,805.03       7,072.05
17 Earnings Per Share  (EPS) - in Rs.          
  a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.               9.75             0.40                2.56               17.93              9.57
  b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.               9.75             0.40               2.56               17.93               9.57
 
Notes :   
1 Statement of Assets and Liabilities (Audited): Rs. In Lacs
As at 31.03.2019
As at 31.03.2018
   
(Audited)
(Audited)
A ASSETS        
1 Non-current Assets        
  (a) Property, Plant and Equipment 6,660.17   6,713.15  
  (b) Capital work-in-progress 3.14    -  
  (c) Investment Property 37.04   37.40  
  (d) Other intangible Assets 0.00    -  
  (e) Intangible assets under development  -    -  
      6,700.35   6,750.55
           
  (f) Financial Assets        
                      i. Investments 2.58   2.58  
                      ii. Other financial assets 18.92   22.74  
  (e) Non Current tax assets (Net)      -  
  (f) Other Non-Current Assets 852.31   767.71  
      873.81   793.03
  Sub-total - Non-current Assets   7,574.16   7,543.58
2 Current Assets        
  (a) Inventories 3,857.51   3,286.39  
  (b) Financial Assets        
                 i. Trade Receivables 6,229.88   5,266.36  
                 ii. Cash and cash equivalents 386.08   357.97  
                iii. Other financial assets 52.67   51.65  
  (c) Other Current Assets 773.56   501.22  
 
Sub-total - Current Assets
   11,299.70   9,463.59
 
TOTAL - ASSETS
   18,873.86   17,007.17
B EQUITY AND LIABILITIES        
           
1 Equity        
  (a) Equity Share Capital 393.46   393.46  
  (b) Other Equity 7,805.03   7,072.05  
 
Sub-total - Shareholders' funds
   8,198.49   7,465.51
  LIABILITIES        
2 Non-current liabilities        
  (a) Financial Liabilities        
                 i. Borrowings 0.00   0.00  
  (b) Provisions 107.20   103.13  
  (c) Deferred Tax Liabilities (Net) 983.86   1,173.65  
  (d) Liabilities for Tax (Net) 1,084.13   1,084.13  
 
Sub-total - Non-current liabilities
   2,175.19   2,360.91
3 Current liabilities        
  (a) Financial Liabilities        
                    i. Short-term borrowings 3,338.06   3,021.66  
                    ii. Trade payables        
 
                (A) Total outstanding dues of micro enterprises and small enterprises
491.58   474.86  
 
                (B) Total outstanding dues of creditors other than micro enterprises and small enterprises
2,831.67   2,531.15  
                    iii. Other Financial Liabilities 1,657.00   843.18  
  (b) Other current liabilities 116.19   279.42  
  (c) Provisions 36.13   30.48  
 
(d) Liabilities for tax (Net)
29.55   0.00  
 
Sub-total - Current liabilities
   8,500.18   7,180.75
 
TOTAL - EQUITY AND LIABILITIES
   18,873.86   17,007.17
 
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 The above audited 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 25th May, 2019. The Statutory Auditors have carried out an audit for the year ended 31st March, 2019 and have issued an unqualified report thereon.
5
The Ministry of Corporate Affairs (MCA), on 28 March 2018, notified lnd AS 115 "Revenue from Contracts with Customers" as part of the Companies (Indian Accounting Standards) Amendment Rules, 2018. The new standard is effective for accounting periods beginning on or after April 1,2018. The Company has applied modified retrospective approach in adopting the new standard and accordingly, the revenue from operations for the quarters ended March 31, 2019 / December 31, 2018 and for the year ended March 31, 2019 are not comparable with other periods reported. The adoption of the standard did not have any material impact in the financial statements of the Company.
6 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
7 Improvement in Profit for the quarter ended 31st March 2019 is mainly attributable to softened prices of Key Raw Materials in the Quarter and better segmental mix.
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 31.03.2019 / 31.03.2018. 
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
Madurai
25th May 2019
KRISHNA MAHESH
MANAGING DIRECTOR
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