UNAUDITED RESULTS SEPT 2021
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER 2021

In Lacs
 
Particulars
Quarter Ended
Half Year Ended
For the Year ended
 
 
30.09.2021
30.06.2021
30.09.2020
30.09.2021
30.09.202019
31.03.2021
 
(Unaudited)
(Unaudited)
(Audited)
               
1 Revenue from Operations           
6,889.99
         
6,423.64
          
6,128.29
      
13,313.63
           
9,177.86
23,684.70
2 Other Income
71.24
78.39
1.55
149.63
18.83
128.00
3 Total Revenue           
6,961.23
         
6,502.03
          
6,129.84
      
13,463.26
           
9,196.69
        
23,812.70
4 Expenditure
  (a) Cost of materials consumed
4,203.48
3,783.01
2,659.90
7,986.49
3,965.42
11,570.34
  (b) Changes in inventories of finished goods and work-in-progress
-582.00
-348.86
325.21
-930.86
504.53
575.76
  (c) Employee benefits expenses
1,082.98
1,097.69
982.59
2,180.67
1,972.62
4,124.54
  (d) Finance cost
38.06
28.57
24.71
66.63
51.84
106.49
  (e) Depreciation and amortisation expense
146.66
143.47
130.29
290.13
267.27
562.38
  (f) Other expenses
2,132.35
1,930.05
1,606.73
4,062.40
2,565.05
6,663.34
5 Total Expenses ( a ... f )
7,021.53
6,633.93
5,729.43
13,655.46
9,326.73
23,602.85
6 Total Profit/ (Loss) before Exceptional items and Tax (3-5)
-60.30
-131.90
400.41
-192.20
-130.04
209.85
7 Exceptional item: 
  Ex-gratia to employees under Voluntary Retirement Scheme                     
-
                    
-
 
-
                  
-
                      
-
 
-
8 Profit / (Loss) Before Tax (6 - 7)
-60.30
-131.90
400.41
-192.20
-130.04
209.85
               
9  
  Tax expense
  - Current Tax
-
-
-
-
-
35.02
  - Prior Period Tax                       
-
 
-
 
-
 
-
 
-
 
(421.38)
10 - Deferred Tax
-5.59
0.15
 
(28.80)
 
(5.44)
 
(24.07)
-3.89
11  
12 Profit/ (Loss) for the period from continuing operations (8 - 9)              
(54.71)
           
(132.05)
             
429.21
         
(186.76)
             
(105.97)
             
600.10
13 Profit/ (Loss) for the period from discontinued operations, if any                      
-
                    
-
                     
-
 
-
                      
-
                     
-
  Profit/ (Loss) for the period (10 + 11)              
(54.71)
           
(132.05)
             
429.21
         
(186.76)
             
(105.97)
             
600.10
  Other Comprehensive Income 
  a)     (i) Item that will not be reclassified to Profit & Loss
-
-
-
-
-
24.53
  (ii) Deferred Tax relating to item that will not be reclassified to Profit & Loss                      
-  
                    
 
                     
-
                  
-
                      
-
 
(4.09)
14 Total Comprehensive Income (12+13)              
(54.71)
           
(132.05)
             
429.21
         
(186.76)
             
(105.97)
             
620.54
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
8,623.87
17 Earnings Per Share  (EPS) - in Rs.
  a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.                
(1.39)
               
(3.36)
               
10.91
             
(4.75)
                 
(2.69)
               
15.25
  b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.                
(1.39)
               
(3.36)
               
10.91
             
(4.75)
                 
(2.69)
               
15.25


  Statement of Assets and Liabilities as at 30th September 2021 as compared to previous year: Rs. in lacs
       
 
Particulars
As at 30.09.2021
As at 31.03.2021
   
(Unaudited)
(Audited)
A ASSETS        
1 Non-current Assets        
  (a) Property, Plant and Equipment 6,331.97   6,256.32  
  (b) Right of use assets 272.35   273.99  
  (c) Other Intangible Assets 90.05   107.65  
  (d) Investment Property 36.26   36.40  
  (e) Capital Work-in-progress 148.79   241.70  
  (f) Intangible assets under development 48.55   38.15  
    6,927.97 6,954.21
  (g) Financial Assets    
                      i. Investments 92.69   92.48  
                      ii. Other financial assets 34.06   14.92  
  (h) Non-Current Assets (Net) 0.44   0.00  
  (i) Other Non-Current Assets 415.99   340.34  
      543.18   447.74
2 Current Assets        
  (a) Inventories 4,713.13   3,427.88  
  (b) Financial Assets        
                 i. Trade Receivables 6,328.51   6,465.23  
                 ii. Cash and cash equivalents 60.80   25.74  
                iii. Other financial assets 96.01   80.37  
  (c) Other Current Assets 1,280.13   795.32  
      12,478.58   10,794.54
 
TOTAL 
  19,949.73   18,196.49
B EQUITY AND LIABILITIES        
           
1 Equity        
  (a) Equity Share Capital 393.46   393.46  
  (b) Other Equity 8,437.11   8,623.87  
      8,830.57   9,017.33
  LIABILITIES        
3 Non-current liabilities        
  (a) Financial Liabilities        
  (i) Borrowings                       -     123.00  
  (b) Provisions 100.32   96.32  
  (c) Deferred tax liabilities (net) 970.21   975.65  
      1,070.53   1,194.97
4 Current liabilities        
  (a) Financial Liabilities        
                    i. Borrowings 3,849.64   2,488.34  
                    ii. Trade payables        
  (A) total outstanding dues of micro enterprises and small enterprises 1,131.18   627.79  
  (B) total outstanding dues of creditors other than micro enterprises and small enterprises 3,343.22   3,117.73  
                   iii. Other Financial Liabilities 1,451.84   1,531.46  
  (b) Other current liabilities 264.37   167.57  
  (c) Provisions 8.38   8.38  
  (d) Liabilities for Tax  (Net)                       -     42.92  
      10,048.63   7,984.19
 
TOTAL 
  19,949.73   18,196.49
 
  Cash Flow Statement for the Half Year ended 30th September 2021: Rs. in lacs
   
For the Half Year ended 30.09.2021
 
For the Half Year ended 30.09.2020
 
A. CASH FLOW FROM OPERATING ACTIVITIES    
  Profit / (Loss) before Tax -192.20 -130.04  
  Adjustments for:    
  Depreciation and Amortization 290.13 267.27  
  Unrealised (Gain) / loss on Foreign Exchange Fluctuations (Net) 19.31 -1.71  
  Payable written back -84.53 0.00  
  Provision for leave encashment 4.00 -39.51  
  Interest Income -1.44 -4.62  
  Interest Expenses 66.56 51.84  
  Cash Generated Before Working Capital Changes 101.83   143.23  
  Movement In Working Capital    
  Increase / (Decrease) in Trade Payables 728.10 -22.19  
  Increase / (Decrease) in Other Financial Liabilities 54.38 -136.17  
  Increase / (Decrease) in Other Liabilities 96.80 -60.06  
  (Increase) / Decrease in Trade Receivables 103.41 104.30  
  (Increase) / Decrease in Inventories -1,285.25 574.24  
  (Increase) / Decrease in Other Financial Assets -39.35 17.43  
  (Increase) / Decrease in Other Assets -486.89 79.08  
  Cash Generated From Operations -726.97   699.86  
  Direct Taxes Paid (net) -43.36 -0.47  
  Net Cash Flow From / (Used in) Operating Activities -770.33   699.39  
       
B. CASH FLOW FROM / (USED IN) INVESTING ACTIVITIES    
  Purchase of PPE and Intangible Assets -326.93 -211.58  
  Purchase of  Non Current Investments /Advance -0.21                       -    
  Interest Income Received 6.01 20.56  
  Net Cash Flow From / (Used in) Investing Activities -321.13   -191.02  
       
C. CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES    
  Proceeds from/(to) Short - Term Borrowings (Net) * 1,376.08 -653.68  
  Proceeds from Long Term Borrowings                       -   550.00  
  Repayment of Long Term Borrowings -183.00                       -    
  Interest Paid -66.56 -61.05  
  Net Cash Flow From / (Used in) Financing Activities 1,126.52   -164.73  
       
  Net Increase / (Decrease) in Cash and Cash Equivalents  (A+B+C) 35.06 343.64  
  Cash and Cash Equivalents at the beginning of the year 25.74 334.78  
  Cash and Cash Equivalents at the end  60.80   678.42  
       
  Components of Cash and Cash Equivalents    
  Cash and cheques on Hand  24.80 26.39  
  Balances with Banks    
     -On Current Accounts 35.90 651.93  
     -On Deposit Accounts 0.10 0.10  
  Cash and cash Equivalents 60.80   678.42  
       
  Non cash Investment / Financing activities:    
  *Foreign Exchange Movement -14.78   -11.73  

Notes :
1 The operations of the Company relate only to one segment viz., friction materials. 
2 The above unaudited 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 13th November, 2021. The Statutory Auditors have carried out a limited review for the quarter / half year ended 30th September, 2021 and have issued an unqualified report thereon.
3 Management has conducted the possible impact of known events arising from COVID-19 pandemic in the preparation of these financial results and has analysed events subsequent to 30th September, 2021 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 previous period have been regrouped wherever necessary to conform to current period classification.


  On behalf of the Board
For SUNDARAM BRAKE LININGS LIMITED
 
 
 
   Chennai
   13th November, 2021
KRISHNA MAHESH
MANAGING DIRECTOR
 
Visit our website :   www.tvsbrakelinings.com