-
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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