Audited Financial Results - 31.03.2020
AUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDED 31st MARCH 2020
Rs. lacs
  Particulars For the Quarter / three months ended For the Year ended
31.03.2020 31.12.2019 31.03.2019 31.03.2020 31.03.2019
(Audited) (UnAudited) (Audited) (Audited)
             
  Income from Operations          
1 Revenue from Operations (Refer Note No. 3)
6,059.39
6,515.34
7,157.73
25,814.17
28,625.86
2 Other Income
90.25
97.73
79.52
507.51
260.76
 3  Total Revenue
6,149.64
6,613.07
7,237.25
26,321.68
28,886.62
4 Expenditure
  (a) Cost of materials consumed
2,802.65
2,923.23
3,557.73
12,357.96
14,636.76
  (b) Changes in inventories of finished goods and work-in-progress
197.79
228.63
-68.50
-32.40
-225.06
  (c) Employee benefits expense
1,059.92
1,189.94
1,321.74
4,795.59
5,171.85
  (d) Finance cost
33.37
40.64
37.41
152.82
164.93
  (e) Depreciation and amortisation expense
136.48
155.07
125.10
542.33
494.50
  (f) Other expenses
1,824.04
1,998.74
1,875.95
8,205.25
7,994.34
5 Total Expenses ( a ... g )
6,054.25
6,536.25
6,849.43
26,021.55
28,237.32
6 Total Profit/ (Loss) before Exceptional items and Tax (3-5)
95.39
76.82
387.82
300.13
649.30
7 Exceptional item: 
  Ex-gratia to employees under Voluntary Retirement Scheme
-  
-  
-  
8 Profit / (Loss) Before Tax (6 - 7)
95.39
76.82
387.82
300.13
649.30
   
9 Tax expense
  - Current Tax
18.50
7.85
79.84
52.68
133.67
  - Previous Year's Tax
-36.63
21.17
-75.57
 
(4.32)
 
(189.79)
  - Deferred Tax
   
113.52
47.80
383.55
251.77
705.42
10 Profit/ (Loss) for the period from continuing operations (8 - 9)
-  
-  
-  
-
-
11 Profit/ (Loss) for the period from discontinued operations, if any
113.52
47.80
383.55
251.77
705.42
12 Profit/ (Loss) for the period (10 + 11)
13 Other Comprehensive Income 
-67.28
-  
42.12
(67.28)
34.71
  a)     (i) Item that will not be reclassified to Profit & Loss
13.85
-  
-8.50
13.85
(7.15)
  b)     (i) Item that will be reclassified to Profit & Loss
0.00
-  
0.00
-  
0.00
  (ii) Income Tax relating to item that will be reclassified to Profit & Loss
-  
-  
-  
-  
-  
14 Total Comprehensive Income (12+13)
60.09
47.80
417.17
198.34
732.98
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
8,003.52
7,805.03
17 Earnings Per Share  (EPS) - in Rs.
  a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.
2.89
1.21
9.75
6.40
17.93
  b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.
2.89
1.21
9.75
6.40
17.93
 
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.
On behalf of the Board
For SUNDARAM BRAKE LININGS LIMITED
Chennai
27th June 2020
KRISHNA MAHESH
MANAGING DIRECTOR
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