E€¦BEEKAY t: +91 33 3051 4444 (30 Lines), +91 33 2283 0061,f: +91 33 2283 3322 E:...

12
a BEEKAY STEEL INDUSTRIES LTD. An ISO 9001:2008 Organisation Lansdowne Towers, 4th Floor 2/1A, Sarat Bose Road, Ke1kata-20 BEEKAY t : +91 33 3051 4444 (30 Lines), +91 33 2283 0061,f : +91 33 2283 3322 E: contact©beekaysteel Com, CIN : L27106W31981PLC033490 Ref: BSlL/RKS/BM/BSE/18-19/ agé Date: 30.05.2018 To \‘v‘o’ks a: The Dy. General Manager BSE Limited. PJ. Towers, Floor No. 25. Dalal Street, Mumbai 400 001 Dear Sir. Sub: Outcome of Board Meetingé’; Suhmissiou ul'Ouarterlv Sr Yearly Audited Financial Results Compliance of Renulations 30 & 33 of SEBI (LODR) Regulations, 2015 Ref: Scrip Code:— 539018. BEEKAY Pursuant to Regulations 30 8; 33 read “1111 Schedule [11 ot' SEB] (Listing Obligations and Disclosure Requirements) Regulations. 2015‘ we wish to inform you that the Board of Directors in its meeting held today had considered the following businesses :- 1. Approved the Audited Annual Accounts (both standalone & consolidated) for the financial year ended 0t131’lMareh, 2018 2. Recommended a Dividend @ 10% on equity shares. i.e. Re. 1.00 on Equity Shares of Rs, 10/- eaeh fully paid up 01‘ the Company, for consideration & approval ofthe Members at the ensuing Annual General Meeting. In this regard please lind enclosed herewith the folio“ ing documents; 1. Standalone Audited Financial Results for the quarter and year ended on 31‘[ March, 2018 along- with Auditor‘s Report and Declarationdbr audit report with unmodified opinion under regulation 33(3)(d) OFLODR duly signed. 2. Consolidated Audited linaneial results for the year ended on 31" March, 2018 along-with Auditor’s Repon and Deelaratiotrl'or audit report \yith unmodified opinion under regulation 33(3)(d) of LODR duly signed This for your kind information and compliance as per the Regulation 30 3: .33 read with Schedule III of the SEB1(LODR) Regulations, 2015 with the Stock Exchange. Please note that the meeting commenced at 11.30 AM and concluded at 8.30 PM. This may please be informed to the members ofthe Exchange Thanking You, Yours faithfully, For Beek el Industries Ltd. t (Rabimlm Kumar Sol: 00) Comprmy Secretary Ends: ax above Jamshedpur Vishakapatnam a. Chennai www.beekaistee1.com

Transcript of E€¦BEEKAY t: +91 33 3051 4444 (30 Lines), +91 33 2283 0061,f: +91 33 2283 3322 E:...

aBEEKAY STEEL INDUSTRIES LTD.

An ISO 9001:2008 Organisation

- Lansdowne Towers, 4th Floor 2/1A, Sarat Bose Road, Ke1kata-20

BEEKAYt : +91 33 3051 4444 (30 Lines), +91 33 2283 0061,f : +91 33 2283 3322

E: contact©beekaysteel Com, CIN : L27106W31981PLC033490

Ref: BSlL/RKS/BM/BSE/18-19/ agé Date: 30.05.2018

To

\‘v‘o’ks a:

The Dy. General Manager

BSE Limited.

PJ. Towers,

Floor No. 25.

Dalal Street,

Mumbai 7 400 001

Dear Sir.

Sub: Outcome of Board Meetingé’; Suhmissiou ul'Ouarterlv Sr Yearly Audited Financial Results —

Compliance of Renulations 30 & 33 of SEBI (LODR) Regulations, 2015

Ref: Scrip Code:— 539018. BEEKAY

Pursuant to Regulations 30 8; 33 read “1111 Schedule [11 ot' SEB] (Listing Obligations and Disclosure

Requirements) Regulations. 2015‘ we wish to inform you that the Board of Directors in its meeting held

today had considered the following businesses :-

1. Approved the Audited Annual Accounts (both standalone & consolidated) for the financial year

ended 0t131’lMareh, 2018

2. Recommended a Dividend @ 10% on equity shares. i.e. Re. 1.00 on Equity Shares of Rs, 10/-

eaeh fully paid up 01‘ the Company, for consideration & approval ofthe Members at the ensuing

Annual General Meeting.

In this regard please lind enclosed herewith the folio“ ing documents;

1. Standalone Audited Financial Results for the quarter and year ended on 31‘[ March, 2018 along-

with Auditor‘s Report and Declarationdbr audit report with unmodified opinion under regulation

33(3)(d) OFLODR duly signed.

2. Consolidated Audited linaneial results for the year ended on 31" March, 2018 along-with

Auditor’s Repon and Deelaratiotrl'or audit report \yith unmodified opinion under regulation

33(3)(d) of LODR duly signed

This for your kind information and compliance as per the Regulation 30 3: .33 read with Schedule III of

the SEB1(LODR) Regulations, 2015 with the Stock Exchange.

Please note that the meeting commenced at 11.30 AM and concluded at 8.30 PM.

This may please be informed to the members ofthe Exchange

Thanking You,

Yours faithfully,For Beek el Industries Ltd.

t

(Rabimlm Kumar Sol: 00)

Comprmy SecretaryEnds: ax above

Jamshedpur

Vishakapatnam a.

Chennai

www.beekaistee1.com

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MANAGING DIRECTOR

Woes: DINI‘MIC‘BUWR’

Jamshedpuv

VIshakapatnam &

Chennai www.beeka steel.com

/ LIHALA & co.anmeneo Accourmms 11, Crooked Lane, Kolkata-7OO 069

Telefax : 2248-7109, 22435095

Email : [email protected],in

AUDITOR’S REPORT ON STANDALONE QUARTERLY FINANCIAL RESULTS AND YEAR

ENDED RESULTS OF THE COMPANY PURSUANT TO THE REGULATION 33 OF THE

SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONj‘

2015

To

Board of Directors

Beekay Steel Industries Ltd.

We have audited the Standalone financial results of MIS. BEEKAY STEEL INDUSTRIES LTD

for the quarter and year ended 315‘March. 2018‘ attached herewith‘ being submitted by the

Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015 read With SEBI Circular No.

CIR/CFD/FAC/62/2016 dated July 5‘ 2016,

This statement is the responsibility of the Company‘s Management and has been approved

by the Board of Directors. Our responsibility is to express an opinion on the statement based

on our audit of such Standalone financial statement which have been prepared in accordance

with the lndian Accounting Standards prescribed under Section 133 of the Companies Act,

2013 read with relevant rules issued thereunder and other accounting principles generally

accepted in lndia.

We conducted our audit in accordance with the auditing standards issued by the Institute of

Chartered Accountants of India. Those standards require that we plan and perform the audit

to obtain reasonable assurance about whether the financial results are free of material

misstatement(s). An audit includes examining evidence supporting the amounts disclosed in

the financial results. An audit also includes assessing the accounting prinCiples used and

significant estimates made by management, We believe that audit evidence obtained by us is

sufficient and appropriate to provide a baSIs for our audit opinion.

Based on our audit conducted as above in our opinion and to the best of our information and

according to the explanations given to us these quarterly financial results as well as the year

to date results'

(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing

Obligations and Disclosure Requnements) Regulations 2015 read With SEBI Circular

No.ClR/CFD/FAC/62/2016 dated July 5, 2016 in this regard; and

(ii) give a true and fair view in conformity with the aforesaid Indian Accounting Standard and

other accounting principles generally accepted in india of the net profit and total

comprehensive income and other financial information of the Company for the quarter

and year ended March 31,2018,

The statement includes the results forthe quarter ended March 31 i2018 being the balancing

figure between Audited figures in respect of the full financial year and the published year to

date figures upto the third quarter of the current financial year.

Contd., (2)

The financial information of the Company forthe corresponding quarter and year ended March31‘ 2017 were reviewed by the predecessor Auditors who expressed unmodified opinion videtheir reports dated 30.05.2017. Our conclusion is not modified in respect thereof.

The audited figures of the previous financial year and quarter ended 31“ March, 2017 hasbeen revised to make comparable in accordance to IndAS and has been audited by thepresent Auditors.

For LIHALA 8. CO.

Chartered AccountantsFirm Regd. No.315052E

(RAJESH LIHALA)(Partner)

Mem. No.052138Place. 11, Crooked Lane, Koikata — 700 069

Dated: 30‘h May‘ 2018

/LIHALA & co.CHARTERED ACCOUNTANTS 11. Crooked Lane, Kolkata—7OO 069

Teletax : 224837109, 2243-5095

E-maiI : Iihalaco@yahootcoiin

AUDITOR‘S REPORT ON CONSOLIDATED YEAR ENDED RESULTS OF THE COMPANY

PURSUANT TO THE REGULATION 33 OF THE SEBI tLlSTING OBLIGATIONS AND

DISCLOSURE REQUIREMENTS) REGULATIONS 2015

To

Board of Directors

Beekay Steel Industries Limited

We have audited the consolidated annual financial results of MIS. BEEKAY STEEL

INDUSTRIES LTD, comprising its Associate (together referred as “the Group")for the year

ended 315‘March, 2018, attached herewith. being submitted by the Company pursuant to the

requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations. 2015read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016

These consolidated annual financial results have been prepared on the basis of the related

consolidated financial statements, which are the responsibility of Company’s managementandhave been approved by the Board of Directors Our responsibility is to express an opinion on

thisconsolidated financial results based on our audit of such consolidated financial statements

which have been prepared in accordance with the Indian Accounting Standards specified in

Section 133 of the Companies Act, 2013 read With the relevant rules issued there under as

applicable and other recognized accounting principles generally accepted in India.

We conducted our audit in accordance with the auditing standards generally accepted in India.

Those standards require that we plan and perform the audit to obtain reasonable assurance

about whether the financial results are free of material misstatementts) An audit includes

examining evidence supporting the amounts disclosed in the financial results. An audit also

includes assessing the accounting principles used and significant estimates made by the

management. We believe that our audit proVides a reasonable baSis for our opinion.

We did not audit the financial statements of AKC Steel Industries Ltd. an Associate Company

in which the Company's share of net loss is Rs.64.00 Lakhs and total comprehensive income

is Rs(64.05)Lakhs for the year ended 31“ March, 2018 as considered in the consolidated

financial results. This annual financial statements and other financial information have been

audited by other auditors whose report have been furnished to us, and our opinion on the

consolidated financial results to the extent they have been derived from such annual financial

statements is based solely on the report of such other auditors

Our opinion on the consolidated financial results is not modified in respect ofthe above matters

with regards to our reliance on the work done and the reports of the other auditors.

In our opinion and to the best of our information and according to the explanations given to us

and based on the consideration of the report of the other auditors on separate financial

statement and other financial information of Associate this consolidated annual financial

results:

(i) are presented in accordance With the requirements of Regulation 33 of the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular

No. CIR/CFD/FAC/62/2016 dated July 5. 2016 in this regard; and

a" Contd... (2)

_-2._

(ii) give a true and fair view of the consolidated net loss and consolidated total

comprehensive income and other financial information for the year ended 315‘ March,

2018.

The financial information of the Company for the corresponding year ended March 31, 2017

were reviewed by the predecessor Auditors who expressed unmodified opinion vide their

reports dated 30.05.2017. Our conclusion is not modified in respect thereof.

The audited figures of the previous financral year ended 315‘ March, 2017 has been revrsed to

make comparable in accordance to lndAS and has been audited by the present Auditors.

For LlHALA & CO.

Chartered Accountants

Firm Regd. No.315052E

I“:'

.

(RAJESH LlHALA)

(Partner)Mem. No.052138

Place: 11, Crooked Lane. Kolkata — 700 069

Dated: 30‘" May, 2018

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Notes to financial results

The above financial results have been reviewd by the Audit Committee and thereafter approved by the Board ofDirectors ot'

the Company at their respective meetings on May 30. 2018. The audit report has been filed with stock exchanges and is

available on the Company's website.

The figures for the three months ended 315t March 2018 and for the corresponding three months ended 3lst March 2017 are

the balancing figures between standalone audited figures in respect of full financial year and the published year to date

standalone figures upto the nine months ufthe respective financial year ended 3 Ist March.

The Company has adopted Indian Accounting Standards("|nd AS") from April I, 2017 and accordingly, the transition was

carried out, from the accounting principles generally accepted in India as specified under Section 133 ofthe Companies Act.2013 read with rule 7 of the Companies (Accounts) Rule, 2014 (previous GAAP). in accordance with IND AS-IUI

"

First

Time adoption of Indian Accounting Standards". Accordingly, the impact on transition has been recorded in retained

eaniings as on April I, 2016 and the periods presented have been restated, The reconciliation ofNet Profit after Tax for the

corresponding quarter and year ended March 31. 2017 between GAAP and Ind AS is as under.

Standalone

Particulars Quarter ended Year ended

31-Mar-17 SIvMaral7

Net Profit for the period (as per IGAAP) 964.76 3,547.82

Add/(less):

i) Interest expenses on Long term Borrowrngs measured at (1.28) (8.31)ainonised cost

ii) Actuarial (gain)/Ioss reclassified through Other Comprehensive (5.59) (38.93)Income

iii RemeasurementofGratuit Liabilit as per Ind AS (103.71) (103.71)iv) Depreciation and amortisation expense (0.46) (0 46)

\Q Tax impact ofabove (not) 132.06 52.40

Net Profit for the period (as per Ind AS) (A) 985.78 3,448.81Other comprehensive Income

,net of Income Tax 365 25 46

Total other comprehenswc Income, net oflncome Tax (B) 3 65 25.46

I‘otal comprehensive Income For theperiod (A+B) 989,44 3,474.27

Reconcilation between Total Equity previously reported as per Previos GAAI’ and 1nd AS as on March 31,2017 is as under

Standalone

Particulars As at March 3 I,

2017

Total Equity as on Blst March 2017 under previous Indian GAAP 23,281.80

Adjustments on account of‘

i) Measurement of financial assets at fair value throiirrh Profit at: Loss (0.02)

ii) Mcasiirino bonowinas at arnortised cost 177

iii) Deferred Tax adjustment (94.02)Total Equity as on 3151 March 2017 under Ind AS 23,189.46

The Company is dealing in one segment only i.e. Rolling of Iron dc Steel and hence separate segment is not given in

accordance with Ind AS-IOS"

Operating Segments" notified pursuant to Companies (Accounting Standards) Rules, 2015.

The Company prepares Consolidated financial statement on annual basis and the Consolidated Financial Result include the

Company‘s share ofprofit in its Associate Company.

The Board of Directors at its meeting held on 30th May, 2018 has recommended a dividend ot‘Rs. 1/» per equity share ol‘Rs,

10/- each.

Post the applicability of Goods and Service Tax (GST) with effect from lst July 2017, Revenue from operations are

disclosed net ovaS'I‘. whereas excise duty formed part ofexpenses in corresponding period/year. Accordingly, the Revenue

From operations and expenses for the quaner and year ended Slst March 2018 are not comparable with the corresponding

periods/year presented in the results.

9

10

12

P1ace:Ko1kata

Date 1 30-05-2018 ‘

i.{

Previous year/ period figures have been regrouped/rearranged, wherever necessary to make them comparable with thecurrent period figures.

The Statutory Auditors of the Company have issued an unqualified report on the Standalone and Consolidated AuditedFinancial Statements.

The Company, persuant to Regulation 33(3)(b)(i) of Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulations 2015. has opted no to additionally submit quarterly consolidated financial results forthe quarters. Accordingly, the Company has submitted only standalone financial results for the quarters. However‘ theCompany has presented annual consolidated financial results for the year ended 3lst March 2018,

Earnings per share is not annualised for the quarter ended Slst March 2018, 3151 December 2017 and 315! March 2017.

By Order ofthe Board of Directors

For Beckuy Steel Industries Ltd

Sci/-

Suresh Chand Bansal

Executive Chairman

D1N100103134

BEEKAY STEEL INDUSTRIES LTD.

Q Art ISO 9001:2008 Organisation' 3“

Registert‘rltilnte Lansdowne Towers, 4th Floor Z/lA, Sarat Base Road, Kolkata-zo

KA t : +91 33 3051 4444 (30 lines), +91 33 2283 0061, r : +91 33 2283 3322BEEe: contact©beekavsteel.com, CIN : L27106WE1931PLC033490

Ref: BSlL/RKS/DECL/BSE/l 8—19/ 08‘; Date: 3&05.21il8

141,

The SecremrygBSE Limited,

Works at:

Phiroze Jeeieebhoy Towers

Dalal Street,Munlbni — 400 001.

Dear Sir,

Scrig Code : 539018

Reg :Declaration with respect to Standalone & Consolidated Audit Report with un-

modified opinion

Pursuant to Regulation 33(3)(d) of the Securities & Exchange Board of india (Listing Obligations &

Disclosure Requirements) Regulations, 2015 and SEE] Circular No. ClR/CFD/CMD/S6/2016 dated May

27, 20l6 we hereby declare that M/s. Liliala & Co, Chartered Accountants, Statutory Auditors of the

Company have not expressed any modified opinionts) on the audit report issued along With the audited

standalone tinaintial results for the financial year ended on 3i" March, 20 l 8.

Kindly Latte the above information on record,

'l'hunlung Yet i,

Yours faithfully,

For Beckay Steel Industries Ltd.

lVV'Z ’

r‘

i lean/vii{Mukesh Clinnd Bansal)

Managing Director

DIN: 00103098

Jamshedpur

Vishakapatnam &

Chennai