SUNDARAM BRAKE LININGS LIMITED
Audited Financial Results - 31.03.2022
Investor Information
AUDITED FINANCIAL RESULTS  FOR THE FINANCIAL YEAR ENDED 31st MARCH 2022
Rs. in lacs
 
Particulars
Quarter Ended
Year Ended
 
 
31.03.2022
31.12.2021
31.03.2021
31.03.2022
31.03.2021
 
(Audited)
(Unaudited)
(Audited)
(Audited)
           
Income from Operations          
1
 Revenue from Operations 
8,123.65
8,082.75
7,621.81
29,520.03
23,684.70
2
 Other Income
99.70
70.36
75.98
319.69
128.00
3 
 Total Revenue
   8,223.35
8,153.11
7,697.79
29,839.72
23,812.70
4
 Expenditure
(a) Cost of materials consumed
4,617.43
4,334.28
4,080.78
16,938.20
11,570.34
(b) Changes in inventories of finished goods and work-in-progress
61.54
512.95
69.38
-356.37
575.76
(c) Employee benefits expense
920.51
1,100.14
1,044.28
4,201.32
4,124.54
(d) Finance cost
64.66
49.43
23.84
180.72
106.49
(e) Depreciation and amortisation expense
160.61
148.41
143.40
599.15
562.38
(f) Other expenses
2,257.80
2,169.60
2,128.54
8,489.80
6,663.34
5
 Total Expenses ( a ... f )
8,082.55
8,314.81
7,490.22
30,052.82
23,602.85
6
 Total Profit/ (Loss) before Exceptional items and Tax (3-5)
140.80
-161.70
207.57
-213.10
209.85
7
 Exceptional item: 
i. Reveral of Liability towards contracts with customers
433.33
-
-
433.33
-  
ii. Additional depreciation on tools due to change in useful life 
-206.96
-
-
(206.96)
-  
 
8
 Profit / (Loss) Before Tax (6 - 7)
367.17
-161.70
207.57
13.27
209.85
 
9
 Tax expense
- Current Tax
2.07
-
34.63
2.07
35.02
- Prior Period Tax 
0.00
-
-
-
(421.38)
- Deferred Tax
8.49
0.38
-5.96
3.43
(3.89)
 
10
 Profit/ (Loss) for the period from continuing operations (8 - 9)
           356.61
(162.08)
178.90
7.77
600.10
11
 Profit/ (Loss) for the period from discontinued operations, if any
    -
-
-
-
-
12
 Profit/ (Loss) for the period (10 + 11)
              356.61
           
(162.08)
                 
178.90
           
7.77
            
600.10
13
 Other Comprehensive Income 
a)     (i) Item that will not be reclassified to Profit & Loss
45.07
-
24.53
45.07
24.53
(ii) Deferred Tax relating to item that will not be reclassified to Profit & Loss
-7.03
-
-4.09
(7.03)
(4.09)
b)     (i) Item that will be reclassified to Profit & Loss
0.00
-
0.00
-
-
(ii) Income Tax relating to item that will be reclassified to Profit & Loss
  -
-
-
-
-
14
 Total Comprehensive Income (12+13)
          394.65
(162.08)
199.34
45.81
620.54
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
8,669.67
8,623.87
17
 Earnings Per Share  (EPS) - in Rs.
a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.
   9.06
(4.12)
4.55
0.20
15.25
b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.
                  9.06
               
(4.12)
                     
4.55
           
0.20
              
15.25
 
     
  Statement of Assets and Liabilities as at 31st March 2022: Rs. in lacs      
       
 
Particulars
As at 31.03.2022
As at 31.03.2021
  
   
(Audited)
(Audited)
  
A ASSETS          
1 Non-current Assets          
  (a) Property, Plant and Equipment 6,435.11   6,256.32    
  (b) Right of use Assets 270.73   273.99    
  (c) Other Intangible Asset 73.16   107.65    
  (d) Investment Property 36.11   36.40    
  (e) Capital Work-in-Progress 100.26   241.70    
  (f) Intangible assets under development 48.55   38.15    
      6,963.92   6,954.21  
             
  (f) Financial Assets          
                      i. Investments 92.69   92.48    
                      ii. Other financial assets 199.65   172.84    
  (g) Non Current Tax Assets (Net) 6.18    -    
  (h) Other Non-Current Assets 162.60   182.42    
      461.12   447.74  
 
Sub-total - Non-current Assets
   7,425.04   7,401.95  
2 Current Assets          
  (a) Inventories 4,849.25   3,427.88    
  (b) Financial Assets          
                 i. Trade Receivables 6,447.40   6,465.23    
                 ii. Cash and cash equivalents 28.97   25.74    
                iii. Other Financial Assets 102.87   80.37    
  (c) Other Current Assets 857.99   795.06    
 
Sub-total - Current Assets
   12,286.48   10,794.28  
 
TOTAL - ASSETS
   19,711.52   18,196.23  
B EQUITY AND LIABILITIES          
             
1 Equity          
  (a) Equity Share Capital 393.46   393.46    
  (b) Other Equity 8,669.68   8,623.87    
 
Sub-total - Shareholders' funds
   9,063.14   9,017.33  
  LIABILITIES          
2 Non-current liabilities          
  (a) Financial Liabilities          
                 i. Borrowings 0.00   123.00    
  (b) Provisions 88.16   96.32    
  (c) Deferred Tax Liabilities (Net) 979.08   975.65    
  (d) Liabilities for tax (Net)          
 
Sub-total - Non-current liabilities
   1,067.24   1,194.97  
3 Current liabilities          
  (a) Financial Liabilities          
                    i. Short-term borrowings 4,164.13   2,854.34    
                    ii. Trade payables          
                  (A) Total outstanding dues of micro enterprises and small enterprises 1,239.00   611.84    
                  (B) Total outstanding dues of creditors other than micro enterprises and small enterprises 2,986.66   2915.30    
                    iii. Other Financial Liabilities 1,051.83   1393.33    
  (b) Other current liabilities 130.57   157.82    
  (c) Provisions 8.95   8.38    
  (d) Liabilities for tax (Net)                       -     42.92    
 
Sub-total - Current liabilities
   9,581.14   7,983.93  
  TOTAL - EQUITY AND LIABILITIES   19,711.52   18,196.23  
 
  Cash Flow Statement for the year ended 31st March, 2022:     Rs. in lacs    
   
 
For the year ended 31.03.2022
  
For the year ended 31.03.2021
  
     
A. CASH FLOW FROM OPERATING ACTIVITIES        
  Profit / (Loss) before Tax 13.27   209.85  
  Adjustments for:        
  Depreciation and Amortization 806.11   562.38  
  Unrealised (Gain) / loss on Foreign Exchange Fluctuations (Net) 6.54   31.58  
  Other adjustments 45.07   24.51  
  Profit / (Loss) on Sale of fixed assets  (0.82)    -  
  Payable written back 290.32    -  
  Provision for leave encashment  (7.59)    (67.07)  
  Interest Income  (6.46)    (14.68)  
  Interest Expenses 180.72   106.49  
  Cash Generated Before Working Capital Changes 1,327.16   853.06  
  Movement In Working Capital        
  Increase / (Decrease) in Trade Payables 693.34   395.06  
  Increase / (Decrease) in Other Financial Liabilities  (664.27)    (90.00)  
  Increase / (Decrease) in Other Liabilities  (27.25)    (160.14)  
  (Increase) / Decrease in Trade Receivables  (18.17)    (1,224.96)  
  (Increase) / Decrease in Inventories  (1,421.37)   342.78  
  (Increase) / Decrease in Other Financial Assets  (50.99)    (39.64)  
  (Increase) / Decrease in Other Assets  (58.00)   175.59  
  Cash Generated From Operations  (219.54)   251.75  
  Direct Taxes Paid (net)  (58.19)    (639.02)  
  Net Cash Flow From / (Used in) Operating Activities  (277.73)    (387.27)  
         
B. CASH FLOW FROM / (USED IN) INVESTING ACTIVITIES        
  Purchase of Property, Plant & Equiment (PPE) and Intangible Assets  (768.68)    (423.28)  
  Proceeds from Sale of PPE 1.01    -  
  Purchase of  Non Current Investments /Advance  (0.21)    -  
  Deposit made for Margin money for Bank Guaratee  -   2.34  
  Sale of Non Current Investments  -    -  
  Interest Income Received 8.14   33.80  
  Net Cash Flow From / (Used in) Investing Activities  (759.74)    (387.14)  
         
C. CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES        
  Proceeds from/(to) Short - Term Borrowings (Net) * 1,587.42   86.63  
  Proceeds from Long Term Borrowings   -   550.00  
  Repayment of Long Term Borrowings   (366.00)    (61.00)  
  Dividend paid  -    -  
  Interest Paid  (180.72)    (110.26)  
  Net Cash Flow From / (Used in) Financing Activities 1,040.70   465.37  
           
  Net Increase / (Decrease) in Cash and Cash Equivalents          (A+B+C) 3.23    (309.04)  
  Cash and Cash Equivalents at the beginning of the year 25.74   334.78  
  Cash and Cash Equivalents at the end of the year 28.97   25.74  
           
  Components of Cash and Cash Equivalents        
           
  Cash and cheques on Hand  26.06   23.27  
  Balances with Banks        
     -On Current Accounts 2.81   2.37  
     -On Deposit Accounts 0.10   0.10  
   Cheques, Drafts on hand  -    -  
  Cash and cash Equivalent  28.97   25.74  
           
  Non Cash Investement/Financing Activities        
  *Foreign Exchange Movement  (34.63)   0.72  
     
  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 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 May, 2022. The Statutory Auditors have carried out an audit for the year ended 31st March, 2022 and have issued an unqualified report thereon.
3 Exceptional items comprise of the following: a) Recalibration of useful life of Tools & Moulds - based on experience, the useful life of Tools & Moulds  have been revised to 15 years. b) Liabilities based on Contractual Obligations, in the absence of claims from the parties, the amounts have been written back.
4 Consequent to the approval of the composite scheme of amalgamation / arrangement, the holding of 12,85,290 equity shares have been transferred to / vested in M/s. Madurai Alagar Enterprises Private Limited, effective February 04, 2022
5 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
6 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 31.03.2022 / 31.03.2021. 
7 Prior period figures have been regrouped wherever necessary to conform to current period classification.
 
                On behalf of the Board
 
                For SUNDARAM BRAKE LININGS LIMITED
 
 
 
  Chennai                  KRISHNA MAHESH
  27th May, 2022                  MANAGING DIRECTOR
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