SUNDARAM BRAKE LININGS LIMITED
UNAUDITED RESULTS SEPT 2018
Investor Information
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER 2018
In Lacs
  Particulars Quarter Ended Half Year Ended For the Year ended
 
  30.09.2018 30.06.2018 30.09.2017 30.09.2018 30.09.2017 31.03.2018
  (Unaudited) (Unaudited) (Audited)
               
1 Revenue from Operations (Refer Note No. 5)         7,210.38        6,812.36           6,169.75         14,022.74        12,157.48 25,049.81
2 Other Income 66.98 102.73 52.04 169.71 196.98 331.63
3 Total Revenue         7,277.36        6,915.09           6,221.79         14,192.45        12,354.46       25,381.44
4 Expenditure            
(a) Cost of materials consumed 3,793.96 3,406.60 2,774.10 7,200.56 5,659.31 12,068.65
(b) Excise Duty (Refer Note No. 5)                  -                    -                      -                       -   409.98 352.02
(c) Changes in inventories of finished goods and work-in-progress -15.91 197.75 388.24 181.84 -9.95 -82.72
(d) Employee benefits expenses 1,264.88 1,276.40 1,147.92 2,541.28 2,239.84 4,562.64
(e) Finance cost 44.66 35.79 48.51 80.45 94.81 189.11
(f) Depreciation and amortisation expense 122.77 121.54 109.19 244.31 218.29 430.61
(g) Other expenses 1,975.92 1,725.04 1,683.07 3,700.96 3,433.11 7,333.66
5 Total Expenses ( a ... g ) 7,186.28 6,763.12 6,151.03 13,949.40 12,045.39 24,853.97
6 Total Profit/ (Loss) before Exceptional items and Tax (3-5) 91.08 151.97 70.76 243.05 309.07 527.47
7 Exceptional item:            
Ex-gratia to employees under Voluntary Retirement Scheme                   -                    -    -                        -                      -   151.95
8 Profit / (Loss) Before Tax (6 - 7) 91.08 151.97 70.76 243.05 309.07 375.52
               
9 Tax expense            
- Current Tax 18.74 31.29 13.50 50.03 62.25 66.25
- Deferred Tax -73.14  (39.93) 3.75  (113.07) 25.35 -67.22
               
10 Profit/ (Loss) for the period from continuing operations (8 - 9)               145.48              160.61                    53.51                     306.09                221.47               376.49
11 Profit/ (Loss) for the period from discontinued operations, if any                       -                        -                           -    -                        -                         -  
12 Profit/ (Loss) for the period (10 + 11)               145.48              160.61                    53.51                     306.09                221.47               376.49
13 Other Comprehensive Income            
a) (i) Item that will not be reclassified to Profit & Loss -2.47                 (2.47)                    18.66                       (4.94)                    4.41  (9.90)
(ii) Deferred Tax relating to item that will not be reclassified to Profit & Loss 0.69                  0.66                    (5.77)                         1.35                   (1.37) 2.02
b) (i) Item that will be reclassified to Profit & Loss                   -                    -                       -                       -                      -   0.18
(ii) Income Tax relating to item that will be reclassified to Profit & Loss                   -                    -                       -                      -                      -    -
14 Total Comprehensive Income (12+13)            143.70           158.80                66.41              302.50             224.52            368.79
15 Paid up Equity Share Capital-Face Value-Rs.10/- each            393.46           393.46              393.46              393.46             393.46 393.46
16 Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year           7,072.05
17 Earnings Per Share (EPS) - in Rs.            
a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.                   3.70                  4.08                      1.36                         7.78                    5.63                   9.57
b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.                   3.70                  4.08                      1.36                         7.78                    5.63                   9.57

Notes :   
Statement of Assets and Liabilities as at 30th September 2018 as compared to same period of previous year:
Rs. Lacs
  Particulars As at 30.09.2018 As at 30.09.2017
  (Unaudited) (Unaudited)
A ASSETS
1 Non-current Assets
(a) Property, Plant and Equipment 6,638.59   6,897.29  
(b) Capital work-in-progress 37.27   37.53  
     
(c) Investment Property    
                    i. Investments 2.58   2.41  
                    ii. Other financial assets 20.16   24.73  
         
(f) Other Non-Current Assets 638.25   680.39  
Sub-total - Non-current Assets   7,336.85   7,642.34
2 Current Assets
(a) Inventories 2,975.21   2,865.12  
(b) Financial Assets        
     i. Trade Receivables 5,838.07   5,381.84  
 ii. Cash and cash equivalents 365.90   588.07  
      iii. Current Investments 43.16   54.16  
(c) Other Current Assets 720.30   299.25  
Sub-total - Current Assets   9,942.64   9,188.44
TOTAL - ASSETS   17,279.49   16,830.78
B EQUITY AND LIABILITIES
           
1 Equity        
(a) Equity Share Capital 393.46   393.46  
(b) Other Equity 7,371.70   6,927.68  
Sub-total - Shareholders' funds
   7,765.16   7,321.14
2 Share application maney pending allotment - -
LIABILITIES
3 Non-current liabilities
(a) Provisions 107.09   92.26  
(b) Deferred tax liabilities (net) 1,061.93   1,266.22  
(c) Liabilities for Tax  (Net) 1,105.87   1,046.79  
Sub-total - Non-current liabilities
   2,274.89   2,405.27
     
4 Current liabilities
(a) Financial Liabilities        
                  i. Short-term borrowings 3,150.67   3,554.41  
                  ii. Trade payables 2,870.09   2,342.75  
                 iii. Other Financial Liabilities 1,127.61   1,167.66  
(b) Other current liabilities 60.59   6.71  
(c) Provisions 30.48   32.84  
Sub-total - Current liabilities
   7,239.44   7,104.37
TOTAL - EQUITY AND LIABILITIES
   17,279.49   16,830.78

Notes :   
1. These results have been prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules 2015. These results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on November 3, 2018. The statutory auditors have conducted a limited review of the above unaudited financial results.
2. 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 Sep. 30, 2018 / June 30, 2018 and half year ended Sep. 30, 2018 are not comparable with other periods reported. The adoption of the standard did not have any material impact to the financial statements of the Company.

 

3.

 

In accordance with the requirements of lnd-AS 115 / Ind-AS 18. Revenue from operations for the quarters ended Sep. 30, 2018 / June 30.2018, and for the half year ended Sep. 30, 2018 are shown net of Goods and Services Tax (GST). However, Revenue from operations for the half year ended Sep. 30, 2017 and for the year ended March 31, 2018 is shown inclusive of excise duty.

4.

The Company is principally engaged in a single business segment viz. friction materials.

 

5.

 

In accordance with the requirements of Ind-AS, Revenue from Operations (as indicated in Sl. No. 1) for the Quarter ended 30th September, 2017 excludes Goods and Services Tax (GST). However, Revenue from Operations for the period upto 30th June, 2017 includes Excise Duty as indicated in Sl. No. 4(b).
6. 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
   3rd November, 2018		 KRISHNA MAHESH
MANAGING DIRECTOR
 
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