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	6,444.33		6,660.16
	(b) Capital work-in-progress	229.44		3.14
	(c) Investment Property	36.68		37.04
	(d) Other intangible Assets	12.69		0.00
	(e) Intangible assets under development	88.59		-
			6,811.73		6,700.34
	(f) Financial Assets
	i. Investments	92.48		2.58
	ii. Other financial assets	15.70		18.92
	(e) Non Current tax assets (Net)
	(f) Other Non-Current Assets	620.40		852.31
			728.58		873.81
	Sub-total - Non-current Assets		7,540.31		7,574.15
2	Current Assets
	(a) Inventories	3,770.65		3,857.51
	(b) Financial Assets
	i. Trade Receivables	5,260.19		6,229.88
	ii. Cash and cash equivalents	337.12		386.08
	iii. Other financial assets	59.07		52.67
	(c) Other Current Assets	930.99		773.56
	Sub-total - Current Assets		10,358.02		11,299.70
	TOTAL - ASSETS		17,898.33		18,873.85
B	EQUITY AND LIABILITIES
1	Equity
	(a) Equity Share Capital	393.46		393.46
	(b) Other Equity	8,003.36		7,805.02
	Sub-total - Shareholders' funds		8,396.82		8,198.48
	LIABILITIES
2	Non-current liabilities
	(a) Financial Liabilities
	i. Borrowings	-		-
	(b) Provisions	150.72		107.20
	(c) Deferred Tax Liabilities (Net)	979.54		983.86
	(d) Liabilities for Tax (Net)	1,064.20		1,084.13
	Sub-total - Non-current liabilities		2,194.46		2,175.19
3	Current liabilities
	(a) Financial Liabilities
	i. Short-term borrowings	2,400.99		3,338.06
	ii. Trade payables
	(A) Total outstanding dues of micro enterprises and small enterprises	780.43		491.58
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	2,397.17		2,831.67
	iii. Other Financial Liabilities	1,387.15		1,657.00
	(b) Other current liabilities	320.26		116.19
	(c) Provisions	21.05		36.13
	(d) Liabilities for tax (Net)	-		29.55
	Sub-total - Current liabilities		7,307.05		8,500.18
	TOTAL - EQUITY AND LIABILITIES		17,898.33		18,873.85

 

	Cash Flow Statement for the year ended 31st March, 2020:			Rs. in lacs
		For the year ended 31.03.2020		For the year ended 31.03.2019
A.	CASH FLOW FROM OPERATING ACTIVITIES
	Profit / (Loss) before Tax	300.13		649.29
	Adjustments for:
	Depreciation and Amortization	542.33		494.50
	Unrealised (Gain) / loss on Foreign Exchange Fluctuations (Net)	253.91		(54.00)
	Other adjustments	(67.28)		34.71
	Profit / (Loss) on Sale of fixed assets	(0.83)		-
	Advance writen off	171.73
	Payable written back	(280.96)
	Provision for leave encashment	28.44		9.72
	Interest Income	(32.74)		(37.75)
	Interest Expenses	152.82		164.93
	Cash Generated Before Working Capital Changes	1,067.55		1,261.40
	Movement In Working Capital
	Increase / (Decrease) in Trade Payables	(149.46)		333.44
	Increase / (Decrease) in Other Financial Liabilities	(14.97)		737.92
	Increase / (Decrease) in Other Liabilities	204.07		(163.23)
	(Increase) / Decrease in Trade Receivables	813.51		(978.06)
	(Increase) / Decrease in Inventories	86.86		(571.12)
	(Increase) / Decrease in Other Financial Assets	(1.98)		1.06
	(Increase) / Decrease in Other Assets	(204.60)		(258.27)
	Cash Generated From Operations	1,800.98		363.14
	Direct Taxes Paid (net)	(88.31)		(111.27)
	Net Cash Flow From / (Used in) Operating Activities	1,712.67		251.87
B.	CASH FLOW FROM / (USED IN) INVESTING ACTIVITIES
	Purchase of PPE and Intangible Assets	(618.47)		(365.42)
	Proceeds from Sale of PPE	1.56		-
	Purchase of  Non Current Investments /Advance	-		(90.00)
	Deposit made for Margin money for Bank Guaratee	(2.34)		-
	Sale of Non Current Investments	0.10		-
	Interest Income Received	31.54		38.24
	Net Cash Flow From / (Used in) Investing Activities	(587.61)		(417.18)
C.	CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES
	Proceeds from/(to) Short - Term Borrowings (Net) *	(1,030.99)		360.07
	Dividend paid	-		(0.01)
	Interest Paid	(143.61)		(164.93)
	Net Cash Flow From / (Used in) Financing Activities	(1,174.60)		195.13
	Net Increase / (Decrease) in Cash and Cash Equivalents          (A+B+C)	(49.54)		29.82
	Cash and Cash Equivalents at the beginning of the year	384.32		354.48
	Cash and Cash Equivalents at the end of the year	334.78		384.30
	Components of Cash and Cash Equivalents
	Cash and cheques on Hand	22.92		23.95
	Balances with Banks
	-On Current Accounts	11.86		60.37
	-On Deposit Accounts	300.00		300.00
	Cheques, Drafts on hand	-		-
	Cash and cash Equivalent	334.78		384.32
	Non Cash Investement/Financing Activities
	*Foreign Exchange Movement	93.92		(43.67)
	The above cash flow statement has been prepared under the 'Indirect Method' as set out in the Ind AS - 7 on Cash  Flow Statements.

 

1	The operations of the Company relate only to one segment viz., friction materials.
2	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 27th June, 2020. The Statutory Auditors have carried out an audit for the year ended 31st March, 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. The Company has resumed production and Export and domestic sales are picking up. 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 statements 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 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 31.03.2020 / 31.03.2019.
6	Prior period figures have been regrouped wherever necessary to confirm to current period classification.