AMIT · 12, Bhagat Singh Marg, Plot No-68, Okhla Industrial Area, Phase III, New Delhi – 110 001...

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JINDAL JSHL/BM-2/2020-21 BSE Limited Corporate Relationship Department, ]51 Floor, New Trading Ring, Rotunda Building, P J Towers, Dalal Street, Fort, Mumbai-400 001 Email: [email protected] Security Code No.: 539597 STAINLESS September 11, 2020 National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot no. C/1, G Block Bandra-Kurla Complex, Bandra (E), Mumbai-400051 Email: [email protected] Security Code No.: JSLHISAR Sub: Outcome of Board Meeting under Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("SEBI Listing Regulations") Dear Sir(s), This is in continuation to our letters dated 29111 June, 2020 and 4111 September, 2020. In pursuance to the applicable provisions of the SEBI Listing Regulations, we wish to inform you that the Board of Directors of Jindal Stainless (Hisar) Limited ("the Company") at its meeting held today, i.e. 111h September, 2020, inter alia considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended 30111 June, 2020. Copy of the aforesaid results alongwith Limited Review Report arc enclosed at Annexure -1. The meeting commenced at 12:00 Noon and concluded at 5.00 p.m. The financial results will be published in the newspapers in terms of Regulation 33 of SEBI Listing Regulations. You are requested to kindly take the above information on record. Thanking you, Yours faithfully, For Jindal Stainless (Hisar) Limited (Bhartenbu?? •. Company Secretary Encl. As above Jindal Stainless (Hisar) Limited CIN: L27205HR2013PLC049963 Corr,orato Office: Jindal Centre. 12. Bh1kaJ1 Gama Place. New Delhi -·110 066. India Roglstc,rod Offico: O.P. Jindal Marg. I hsar - 125005 (Haryana), India T: +91-1662-222471-83. F: +91-1662-220499 E: [email protected]. W: www.Jshlstainloss.com

Transcript of AMIT · 12, Bhagat Singh Marg, Plot No-68, Okhla Industrial Area, Phase III, New Delhi – 110 001...

  • JINDAL

    JSHL/BM-2/2020-21

    BSE Limited

    Corporate Relationship Department,]51Floor, New Trading Ring,Rotunda Building, P J Towers,Dalal Street, Fort, Mumbai-400 001Email: [email protected] Code No.: 539597

    STAINLESS

    September 11, 2020

    National Stock Exchange of India Ltd.

    Exchange Plaza, 5th Floor,Plot no. C/1, G BlockBandra-Kurla Complex, Bandra (E),Mumbai-400051

    Email: [email protected] Code No.: JSLHISAR

    Sub: Outcome of Board Meeting under Regulations 30 and 33 of SEBI (Listing Obligations

    and Disclosure Requirements) Regulations, 2015, ("SEBI Listing Regulations")

    Dear Sir(s),

    This is in continuation to our letters dated 29111June, 2020 and 4111September, 2020.

    In pursuance to the applicable provisions of the SEBI Listing Regulations, we wish toinform you that

    the Board of Directors of Jindal Stainless (Hisar) Limited ("the Company") at its meeting held today,

    i.e. 111hSeptember, 2020, inter alia considered and approved the Unaudited Standalone and

    Consolidated Financial Results of the Company for the quarter ended 30111June, 2020. Copy of the

    aforesaid results alongwith Limited Review Report arc enclosed at Annexure -1.

    The meeting commenced at 12:00 Noon and concluded at 5.00 p.m.

    The financial results will be published in the newspapers in terms of Regulation 33 of SEBI Listing

    Regulations.

    You are requested to kindly take the above information on record.

    Thanking you,

    Yours faithfully,For Jindal Stainless (Hisar) Limited

    (Bhartenbu??•.

    Company Secretary

    Encl. As above

    Jindal Stainless (Hisar) LimitedCIN: L27205HR2013PLC049963

    Corr,orato Office: Jindal Centre. 12. Bh1kaJ1Gama Place. New Delhi -·110 066. India

    Roglstc,rod Offico: O.P. Jindal Marg. I hsar - 125005 (Haryana), IndiaT: +91-1662-222471-83. F: +91-1662-220499

    E: [email protected]. W: www.Jshlstainloss.com

  • Lodha & Co. S. S. Kothari Mehta & Company Chartered Accountants Chartered Accountants 12, Bhagat Singh Marg, Plot No-68, Okhla Industrial Area, Phase III, New Delhi – 110 001 New Delhi -110020

    Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and

    Disclosure Requirements) Regulations, 2015, as amended

    To The Board of Directors of JINDAL STAINLESS (HISAR) LIMITED

    1. We have reviewed the accompanying statement of unaudited standalone financial

    results of JINDAL STAINLESS (HISAR) LIMITED (‘the Company’) for the quarter ended 30th

    June, 2020 (“the Statement”), attached herewith, being submitted by the Company

    pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and

    Disclosure Requirements) Regulations, 2015 (“the Regulation”).

    2. This Statement, which is the responsibility of the Company’s management and approved

    by the Company’s Board of Directors, has been prepared in accordance with the

    recognition and measurement principles laid down in Indian Accounting Standard 34

    (Ind AS-34), “Interim Financial Reporting” prescribed under Section 133 of the

    Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards)

    Rules, 2015 (as amended) , read with relevant rules issued thereunder and other

    accounting principles generally accepted in India. Our responsibility is to issue a report

    on the Statement based on our review.

    3. We conducted our review in accordance with the Standard on Review Engagement (SRE

    2410) “Review of Interim financial information performed by the Independent Auditor

    of the Entity”, issued by the Institute of Chartered Accountants of India. This standard

    requires that we plan and perform the review to obtain moderate assurance as to

    whether the statement is free of material misstatement. A review is limited primarily to

    inquiries of the Company personnel and analytical procedures applied to financial data

    and thus provide less assurance than an audit. We have not performed an audit and

    accordingly, we do not express an audit opinion.

    4. Based on our review conducted as above and based on the consideration of review

    report of other auditor referred to in paragraph 5 below, nothing has come to our

    attention that causes us to believe that the accompanying Statement , prepared in all

    material respects in accordance with the applicable India Accounting Standards (‘Ind

    AS’) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules

    issued thereunder and other recognised accounting practices and policies generally

    accepted in India, has not disclosed the information required to be disclosed in terms of

    the Regulation, read with the circular, including the manner in which it is to be

    disclosed, or that it contains any material misstatement.

    GAURAV LODHA

    Digitally signed by GAURAV LODHA DN: c=IN, o=Personal, cn=GAURAV LODHA, serialNumber=35e0a97a476f72c4ea968facb0e991a6ebfccacbadefb1a2726804b3978a2c24, postalCode=342001, 2.5.4.20=74230d9f3a435885021d2e1d67479e1553bd999d8d318232ce7cc8d99eb900d9, st=Rajasthan Date: 2020.09.11 12:53:50 +05'30'

    AMIT GOEL

    Digitally signed by AMIT GOEL DN: c=IN, st=Haryana, 2.5.4.20=70db4ce70ced797ffa8267425ed700aac60e7f8a8ef8b5a786b5e83d6c5d98d6, postalCode=122018, street=D-90 SECOND FLOOR SOHANA ROAD SOUTH CITY II , serialNumber=3bd9ea2142e2fbfc301405b42f53d7195978c45793bfe53a543515c0c64ef0ef, o=Personal, cn=AMIT GOEL Date: 2020.09.11 13:23:25 +05'30'

  • 5. Other matter

    We did not review the financial results/information of Company’s branch at Kothavalasa in Vizianagaram district, Andhra Pradesh included in the Statement, whose interim financial results/ information reflect total revenues of Rs. 5.84 crore, total net profit/ (Loss) after tax of Rs. (3.66) crore and total comprehensive income/ (Loss) of Rs. (3.66) crore for the quarter ended 30th June, 2020 as considered in the unaudited financial results. The interim financial results/ information of the branch have been reviewed by branch auditors whose report has been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of the Branch, is based solely on the report of such Branch auditor and the procedures performed by us as stated in paragraph 3 above.

    Our conclusion on the Statement is not modified in respect of above matter.

    For LODHA & CO. For S.S. KOTHARI MEHTA & COMPANY Chartered Accountants Chartered Accountants Firm’s Registration No. 301051E Firm’s Registration No. 000756N (GAURAV LODHA) (AMIT GOEL) Partner Partner Membership No: 507462 Membership No.: 500607 Place: New Delhi Place: New Delhi Date: 11th September 2020 Date: 11th September 2020 UDIN : 20507462AAAA SJ8023 UDIN : 20500607AAAAHX4698

    GAURAV LODHA

    Digitally signed by GAURAV LODHA DN: c=IN, o=Personal, cn=GAURAV LODHA, serialNumber=35e0a97a476f72c4ea968facb0e991a6ebfccacbadefb1a2726804b3978a2c24, postalCode=342001, 2.5.4.20=74230d9f3a435885021d2e1d67479e1553bd999d8d318232ce7cc8d99eb900d9, st=Rajasthan Date: 2020.09.11 12:54:13 +05'30'

    AMIT GOEL

    Digitally signed by AMIT GOEL DN: c=IN, st=Haryana, 2.5.4.20=70db4ce70ced797ffa8267425ed700aac60e7f8a8ef8b5a786b5e83d6c5d98d6, postalCode=122018, street=D-90 SECOND FLOOR SOHANA ROAD SOUTH CITY II , serialNumber=3bd9ea2142e2fbfc301405b42f53d7195978c45793bfe53a543515c0c64ef0ef, o=Personal, cn=AMIT GOEL Date: 2020.09.11 13:24:19 +05'30'

  • Lodha & Co. S. S. Kothari Mehta & Company Chartered Accountants Chartered Accountants 12, Bhagat Singh Marg, Plot No-68, Okhla Industrial Area, Phase III, New Delhi – 110 001 New Delhi -110020

    Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results

    of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

    To The Board of Directors of JINDAL STAINLESS (HISAR) LIMITED

    1. We have reviewed the accompanying statement of unaudited consolidated financial results of JINDAL STAINLESS (HISAR) LIMITED ("the Parent"), its subsidiaries (the Parent and its subsidiaries together referred to as 'the Group'), and its share of the net profit/(Loss) after tax and total comprehensive income of its associates for the quarter ended 30th June, 2020 (the "Statement") attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulation').

    2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

    3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of lnterim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of lndia. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Circular issued by the Securities and Exchange Board of lndia under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, to the extent applicable.

    4. The Statement includes the results of the following entities: Subsidiary companies

    i. Jindal Stainless Steelway Limited ii. JSL Lifestyle Limited

    iii. JSL Logistics Limited iv. Green Delhi BQS Limited v. JSL Media Limited

    GAURAV LODHA

    Digitally signed by GAURAV LODHA DN: c=IN, o=Personal, cn=GAURAV LODHA, serialNumber=35e0a97a476f72c4ea968facb0e991a6ebfccacbadefb1a2726804b3978a2c24, postalCode=342001, 2.5.4.20=74230d9f3a435885021d2e1d67479e1553bd999d8d318232ce7cc8d99eb900d9, st=Rajasthan Date: 2020.09.11 12:51:38 +05'30'

    AMIT GOEL

    Digitally signed by AMIT GOEL DN: c=IN, st=Haryana, 2.5.4.20=70db4ce70ced797ffa8267425ed700aac60e7f8a8ef8b5a786b5e83d6c5d98d6, postalCode=122018, street=D-90 SECOND FLOOR SOHANA ROAD SOUTH CITY II , serialNumber=3bd9ea2142e2fbfc301405b42f53d7195978c45793bfe53a543515c0c64ef0ef, o=Personal, cn=AMIT GOEL Date: 2020.09.11 13:26:02 +05'30'

  • Associates i. J.S.S. Steelitalia Limited ii. Jindal Stainless Limited iii. Jindal Stainless Corporate Management Services Private Limited

    5. Based on our review conducted and procedures performed as stated in paragraph 3 above,

    and based on the consideration of review report of other auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standard specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

    6. Other matters i) We did not review the financial results/information of Company’s branch at

    Kothavalasa in Vizianagaram district, Andhra Pradesh included in the Statement, whose interim financial results/ information reflect total revenues of Rs. 5.84 crore, total net profit/ (Loss) after tax of Rs. (3.66) crore and total comprehensive income/ (Loss) of Rs. (3.66) crore for the quarter ended 30th June, 2020 as considered in the unaudited consolidated financial results. The interim financial results/ information of the branch have been reviewed by branch auditors whose report has been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of the Branch, is based solely on the report of such Branch auditor and the procedures performed by us as stated in paragraph 3 above.

    ii) We did not review the interim financial results and other financial information in respect of three (3) subsidiaries, namely, JSL Lifestyle Limited, JSL Media Limited and Green Delhi BQS Limited; included in the consolidated financial results, whose interim financial results/information reflect total revenues of Rs. 27.83 crore, total net profit/ (loss) after tax of Rs. (5.65) crore and total comprehensive income/ (Loss) of Rs. (5.66) crore for the quarter ended 30th June, 2020. We did not review the interim financial results and other financial information in respect of two (2) associate entities namely Jindal Stainless Corporate Management Services Private Limited and Jindal Stainless Limited, which reflects Group's share of net profit/ (Loss) after tax of Rs. (40.27) crore and total comprehensive income/ (Loss) of Rs. (40.10) crore for the quarter ended 30th June, 2020. These interim financial results/ information have been reviewed by other auditors whose reports have been furnished to us by the management and our report on the statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries/associates, is based solely on the reports of other auditors.

    iii) We did not review the interim financial results and other financial information in respect of one (1) associate entity namely J.S.S. Steelitalia Limited (having negative net worth), which reflects Group's share of net profit after tax of Rs. Nil and total comprehensive income of Rs. Nil for the quarter ended 30th June, 2020. The financial results/ information have not been reviewed by their auditors and have been provided (unaudited and as certified by the management) to us by the management.

    GAURAV LODHA

    Digitally signed by GAURAV LODHA DN: c=IN, o=Personal, cn=GAURAV LODHA, serialNumber=35e0a97a476f72c4ea968facb0e991a6ebfccacbadefb1a2726804b3978a2c24, postalCode=342001, 2.5.4.20=74230d9f3a435885021d2e1d67479e1553bd999d8d318232ce7cc8d99eb900d9, st=Rajasthan Date: 2020.09.11 12:51:58 +05'30'

    AMIT GOEL

    Digitally signed by AMIT GOEL DN: c=IN, st=Haryana, 2.5.4.20=70db4ce70ced797ffa8267425ed700aac60e7f8a8ef8b5a786b5e83d6c5d98d6, postalCode=122018, street=D-90 SECOND FLOOR SOHANA ROAD SOUTH CITY II , serialNumber=3bd9ea2142e2fbfc301405b42f53d7195978c45793bfe53a543515c0c64ef0ef, o=Personal, cn=AMIT GOEL Date: 2020.09.11 13:27:04 +05'30'

  • iv) Financial results/ information of two (2) subsidiaries, namely, Jindal Stainless Steelway Limited and JSL Logistics Limited; whose interim financial results/ information reflect total revenues of Rs. 169.71 crore, total net profit after tax of Rs. 0.07 crore and total comprehensive income of Rs. 0.07 crore for the quarter ended 30th June, 2020, have been reviewed by one of the joint auditors of the parent. Our conclusion on the Statement is not modified in respect of the above matters.

    For LODHA & CO. For S.S. KOTHARI MEHTA & COMPANY Chartered Accountants Chartered Accountants Firm’s Registration No. 301051E Firm’s Registration No. 000756N (GAURAV LODHA) (AMIT GOEL) Partner Partner Membership No: 507462 Membership No.: 500607 Place: New Delhi Place: New Delhi Date: 11th September 2020 Date: 11th September 2020 UDIN : 20507462AAAASK1646 UDIN : 20500607AAAAHY3762

    GAURAV LODHA

    Digitally signed by GAURAV LODHA DN: c=IN, o=Personal, cn=GAURAV LODHA, serialNumber=35e0a97a476f72c4ea968facb0e991a6ebfccacbadefb1a2726804b3978a2c24, postalCode=342001, 2.5.4.20=74230d9f3a435885021d2e1d67479e1553bd999d8d318232ce7cc8d99eb900d9, st=Rajasthan Date: 2020.09.11 12:52:15 +05'30'

    AMIT GOEL

    Digitally signed by AMIT GOEL DN: c=IN, st=Haryana, 2.5.4.20=70db4ce70ced797ffa8267425ed700aac60e7f8a8ef8b5a786b5e83d6c5d98d6, postalCode=122018, street=D-90 SECOND FLOOR SOHANA ROAD SOUTH CITY II , serialNumber=3bd9ea2142e2fbfc301405b42f53d7195978c45793bfe53a543515c0c64ef0ef, o=Personal, cn=AMIT GOEL Date: 2020.09.11 13:28:14 +05'30'

  • ( in crore except per share data)

    For the year ended

    For the year ended

    30 June 2020

    31 March 2020

    (refer note no 7)

    30 June 2019

    31 March 2020

    30 June 2020

    31 March 2020

    (refer note no 7)

    30 June 2019

    31 March 2020

    Unaudited Audited Unaudited Audited Unaudited Audited Unaudited Audited

    I Revenue from operations 742.85 2,030.32 2,147.28 8,339.69 852.41 2,246.07 2,372.35 9,379.00

    II Other income 23.27 21.20 25.08 97.88 24.97 51.87 26.32 132.86

    III Total income 766.12 2,051.52 2,172.36 8,437.57 877.38 2,297.94 2,398.67 9,511.86

    IV Expenses

    Cost of material consumed 376.88 1,315.35 1,498.21 5,312.74 433.32 1,479.06 1,638.55 5,985.27

    Purchase of stock in trade 45.82 112.84 - 179.36 58.92 127.13 19.35 248.36

    82.10 (42.84) (122.98) (1.50) 92.41 (61.79) (114.74) 51.60

    Employee benefits expense 31.83 45.64 45.28 184.03 40.42 58.05 58.25 235.21

    Finance costs 68.23 68.22 80.09 303.64 72.76 70.62 85.21 322.77

    Depreciation and amortisation expense 65.71 69.94 65.72 273.16 72.46 76.35 70.05 294.58

    Stores and spares consumed 37.22 120.99 154.52 527.63 38.92 127.14 157.67 544.64

    Power & fuel 62.52 183.55 206.93 761.54 63.35 185.20 208.63 768.46

    Other expenditure 66.78 121.07 128.25 514.12 82.28 148.85 152.00 610.29

    Total expenses 837.09 1,994.76 2,056.02 8,054.72 954.84 2,210.61 2,274.97 9,061.18

    V (70.97) 56.76 116.34 382.85 (77.46) 87.33 123.70 450.68

    VI Share of net profit/(loss) from associates - equity method (40.27) (15.16) 16.69 25.92

    VII Exceptional items - gain /(loss) - refer note no 3 5.44 (5.37) 11.30 18.71 5.57 (4.10) 11.20 20.09

    VIII Profit/(loss) after exceptional items but before tax (65.53) 51.39 127.64 401.56 (112.16) 68.07 151.59 496.69

    IX Tax expense

    Current tax - (4.64) 42.08 125.41 0.51 (2.77) 43.95 138.57

    Deferred tax (15.81) (37.82) 1.56 (44.24) (18.78) (37.60) 2.15 (43.25)

    Taxes in relation to earlier years - 0.06 - 0.06 - 0.09 0.20 0.59

    X Profit/(loss) for the period (49.72) 93.79 84.00 320.33 (93.89) 108.35 105.29 400.78

    XI Other comprehensive income

    Items that will not be reclassified to profit / (loss) (0.30) 0.10 (0.38) (1.06) (0.32) (0.18) (0.38) (1.40)

    lncome tax effect on above 0.07 (0.14) 0.13 0.27 0.08 (0.08) 0.13 0.35

    Share in associates (other comprehensive income) 0.17 13.36 1.14 14.70

    Total other comprehensive income (0.23) (0.04) (0.25) (0.79) (0.07) 13.10 0.89 13.65

    XII (49.95) 93.75 83.75 319.54 (93.96) 121.45 106.18 414.43

    XIII Profit/(loss) attributable to :

    Owners of the holding company (92.69) 105.28 104.68 392.87

    Non - controlling interests (1.20) 3.07 0.61 7.91

    (93.89) 108.35 105.29 400.78

    Other comprehensive income attributable to :

    Owners of the holding company (0.07) 13.13 0.89 13.69

    Non - controlling interests - (0.03) - (0.04)

    (0.07) 13.10 0.89 13.65

    Total comprehensive income attributable to :

    Owners of the holding company (92.76) 118.41 105.57 406.56

    Non - controlling interests (1.20) 3.04 0.61 7.87

    (93.96) 121.45 106.18 414.43

    XIV Paid-up equity share capital (face value of 2/- each) 47.19 47.19 47.19 47.19 47.19 47.19 47.19 47.19

    XV Other equity 1,789.06 2,223.82

    XVI

    a) - Basic (2.11) 3.97 3.56 13.58 (3.93) 4.46 4.44 16.65

    b) - Diluted (2.11) 3.97 3.56 13.58 (3.93) 4.46 4.44 16.65

    (EPS for the quarter not annualised)

    JINDAL STAINLESS (HISAR) LIMITED

    Regd. Office: O.P.Jindal Marg, Hisar-125 005 (Haryana)

    CIN: L27205HR2013PLC049963

    Earning per share (EPS) (face value of 2/- each)

    Profit/(loss) before exceptional items, share of net profit/(loss) from associates and tax

    Total comprehensive income for the period (comprising profit/(loss) and other comprehensive income for the period)

    UNAUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTSFOR THE QUARTER ENDED 30 JUNE 2020

    Ph. No. (01662) 222471-83, Fax No. (01662) 220499, Email Id. for Investors: [email protected], Website: www.jshlstainless.com

    Changes in inventories of finished goods, stock in trade and work in progress

    ConsolidatedStandalone

    For the quarter endedFor the quarter ended

    Sr. No. Particulars

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