SUNDARAM BRAKE LININGS LIMITED
UNAUDITED RESULTS SEPT 2019
Investor Information
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER 2019
In Lacs
  Particulars Quarter Ended Half Year Ended For the Year ended
 
  30.09.2019 30.06.2019 30.09.2018 30.09.2019 30.09.2018 31.03.2019
  (Unaudited) (Unaudited) (Audited)
               
1 Revenue from Operations (Refer Note No. 5)
5,912.57
7,326.87
7,210.38
13,239.44
14,022.74
28,625.86
2 Other Income
278.97
40.56
66.98
319.53
169.71
260.76
3 Total Revenue
6,191.54
7,367.43
7,277.36
13,558.97
14,192.45
28,886.62
4 Expenditure
(a) Cost of materials consumed
3,232.50
3,399.58
3,793.96
6,632.08
7,200.56
14,636.76
(b) Excise Duty (Refer Note No. 5)
-  
-  
-  
-  
-  
-
(c) Changes in inventories of finished goods and work-in-progress
-701.30
242.48
-15.91
-458.82
181.84
-225.06
(d) Employee benefits expenses
1,251.91
1,293.82
1,264.88
2,545.73
2,541.28
5,171.85
(e) Finance cost
35.11
43.70
44.66
78.81
80.45
164.93
(f) Depreciation and amortisation expense
126.86
123.92
122.77
250.78
244.31
494.50
(g) Other expenses
2,290.65
2,091.82
1,975.92
4,382.47
3,700.96
7,994.34
5 Total Expenses ( a ... g )
6,235.73
7,195.32
7,186.28
13,431.05
13,949.40
28,237.32
6 Total Profit/ (Loss) before Exceptional items and Tax (3-5)
-44.19
172.11
91.08
127.92
243.05
649.30
7 Exceptional item:
Ex-gratia to employees under Voluntary Retirement Scheme
-  
-  
-
-  
-  
-
8 Profit / (Loss) Before Tax (6 - 7)
-44.19
172.11
91.08
127.92
243.05
649.30
   
9 Tax expense
- Current Tax
-10.89
37.22
18.74
26.33
50.03
133.67
- Deferred Tax
2.80
8.34
(73.14)
11.14
(113.07)
-189.79
   
10 Profit/ (Loss) for the period from continuing operations (8 - 9)
(36.10)
126.55
145.48
90.45
306.09
705.42
11 Profit/ (Loss) for the period from discontinued operations, if any
-  
-  
-  
-
-  
-  
12 Profit/ (Loss) for the period (10 + 11)
(36.10)
126.55
145.48
90.45
306.09
705.42
13 Other Comprehensive Income
a) (i) Item that will not be reclassified to Profit & Loss
-8.68
8.68
(2.47)
-  
(4.94)
34.71
(ii) Deferred Tax relating to item that will not be reclassified to Profit & Loss
0.00
-  
0.69
-  
1.35
(7.15)
b) (i) Item that will be reclassified to Profit & Loss
-  
-  
-  
-  
-  
0.00
(ii) Income Tax relating to item that will be reclassified to Profit & Loss
-  
-  
-  
-  
-  
-
14 Total Comprehensive Income (12+13)
(44.78)
135.23
143.70
90.45
302.50
732.98
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
7,805.03
17 Earnings Per Share (EPS) - in Rs.
a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.
(0.92)
3.22
3.70
2.30
7.78
17.93
b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.
(0.92)
3.22
3.70
2.30
7.78
17.93

Notes :   
Statement of Assets and Liabilities as at 30th September 2019 as compared to same period of previous year:
Rs. Lacs
  Particulars As at 30.09.2019 As at 31.03.2019
  (Unaudited) (Unaudited)
A ASSETS        
1 Non-current Assets        
  (a) Property, Plant and Equipment 6,626.33   6,660.17  
  (b) Capital work-in-progress 51.07   3.14  
  (c) Investment Property 36.86   37.04  
  (d) Other Intangible Assets 11.50    -  
  (d) Financial Assets    
                      i. Investments 92.58   2.58  
                    ii. Other financial assets 22.83   18.92  
         
(e) Other Non-Current Assets 645.49   852.31  
Sub-total - Non-current Assets   7,486.66   7,574.16
2 Current Assets        
(a) Inventories 3,891.37   3,857.51  
(b) Financial Assets        
               i. Trade Receivables 5,320.26   6,229.88  
               ii. Cash and cash equivalents 494.14   386.08  
                iii. Other financial assets 31.86   52.67  
(c) Other Current Assets 1,170.15   773.56  
Sub-total - Current Assets
   10,907.78   11,299.70
TOTAL - ASSETS
   18,394.44   18,873.86
         
B EQUITY AND LIABILITIES        
         
1 Equity        
(a) Equity Share Capital 393.46   393.46  
(b) Other Equity 7,895.51   7,805.03  
 
Sub-total - Shareholders' funds
   8,288.97   8,198.49
2 Share application maney pending allotment    -    -
  LIABILITIES        
3 Non-current liabilities        
(a) Provisions 112.20   107.20  
(b) Deferred tax liabilities (net) 995.00   983.86  
  (c) Liabilities for Tax  (Net) 1,080.26   1,084.13  
Sub-total - Non-current liabilities
   2,187.46   2,175.19
4 Current liabilities        
(a) Financial Liabilities        
                  i. Short-term borrowings 3,121.00   3,338.06  
                  ii. Trade payables        
                      (A) total outstanding dues of micro enterprises        
                             and small enterprises 705.77   491.58  
                        (B) total outstanding dues of creditors other than        
                             micro enterprises and small enterprises 2,379.65   2,831.67  
         
                 iii. Other Financial Liabilities 1,537.49   1,657.00  
(b) Other current liabilities 111.64   116.19  
(c) Provisions 36.13   36.13  
(d) Liabilities for Tax  (Net) 26.33   29.55  
Sub-total - Current liabilities
   7,918.01   8,500.18
TOTAL - EQUITY AND LIABILITIES
   18,394.44   18,873.86

  Cash Flow Statement for the Half Year ended 30th September 2019: Rs. in lacs
   
For the Half Year ended 30.09.2019
   For the Half Year ended 30.09.2018  
A. CASH FLOW FROM OPERATING ACTIVITIES
  Profit / (Loss) before Tax
127.92
243.05
  Adjustments for:
  Depreciation and Amortization
250.78
244.31
  Unrealised (Gain) / loss on Foreign Exchange Fluctuations (Net)
72.43
-65.97
  Other adjustments
0.00
-5.08
  Profit / (Loss) on Sale of fixed assets
-0.83
0.00
  Advance written off
171.73
0.00
  Payables written back
-211.65
0.00
  Provision for leave encashment
5.00
3.96
  Interest Income
-11.83
-10.37
  Interest Expenses
78.81
80.45
  Cash Generated Before Working Capital Changes
482.36
490.35
  Movement In Working Capital
  Increase / (Decrease) in Trade Payables
-233.24
-688.93
  Increase / (Decrease) in Other Financial Liabilities
66.50
535.63
  Increase / (Decrease) in Other Liabilities
-4.55
-8.56
  (Increase) / Decrease in Trade Receivables
852.77
-249.08
  (Increase) / Decrease in Inventories
-33.86
311.18
  (Increase) / Decrease in Other Financial Assets
7.98
-6.31
  (Increase) / Decrease in Other Assets
-443.05
-186.95
  Cash Generated From Operations
694.91
197.33
  Direct Taxes Paid (net)
-33.42
-28.29
  Net Cash Flow From / (Used in) Operating Activities
661.49
169.04
   
B. CASH FLOW FROM / (USED IN) INVESTING ACTIVITIES
  Purchase of PPE and Intangible Assets
-257.75
-154.68
  Proceeds from Sale of PPE
1.34
0.00
  Purchase of  Non Current Investments /Advance
0.00
0.00
  Sale of Non Current Investments
0.00
0.00
  Interest Income Received
20.75
27.75
  Net Cash Flow From / (Used in) Investing Activities
-235.66
-126.93
   
C. CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES
  Proceeds from/(to) Short - Term Borrowings (Net) *
-237.20
48.25
  Repayment of Long Term Borrowings 
0.00
0.00
  Interest Paid
-78.81
-80.46
  Net Cash Flow From / (Used in) Financing Activities
-316.01
-32.21
   
  Net Increase / (Decrease) in Cash and Cash Equivalents  (A+B+C)
109.82
9.90
  Cash and Cash Equivalents at the beginning of the year
384.32
354.48
  Cash and Cash Equivalents at the end 
494.14
364.38
   
  Components of Cash and Cash Equivalents
  Cash and cheques on Hand 
27.64
23.76
  Balances with Banks
     -On Current Accounts
166.50
40.62
     -On Deposit Accounts
300.00
300.00
   Cheques, Drafts on hand
0.00
0.00
  Cash and cash Equivalents
494.14
364.38
   
  Non cash Investment / Financing activities:
  *Foreign Exchange Movement
20.14
80.76
 
  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. These financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on November 9, 2019. These results are as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The statutory auditors have carried out a limited review of these results for the quarter / half year ended September 30,2019 and have issued an unmodified report on these results.

2. Other Income for the quarter / half year ended 30th September, 2019 includes Payables written back for Rs. 211.65 lacs.


3.


The Company is engaged in the manufacture of friction materials, which in the context of Indian Accounting Standard (lnd AS) 108 Operating Segments, is considered as the operating segment of the Company.


4.


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


5.


The figures for the previous period have been regrouped wherever necessary to conform to current period classification.

  On behalf of the Board
For SUNDARAM BRAKE LININGS LIMITED
 
 
 
   Chennai
   9th November, 2019		 KRISHNA MAHESH
MANAGING DIRECTOR
 
Visit our website :   www.tvsbrakelinings.com