ITaAllta PIL ITALICA LIFESTYLE LIMITED (An ISO 9001 : 2015 Certified Company) CIN : L25207RJ1992PLC006576 +91-96 499 71111 & 0294-2432272 E [email protected]May 03, 2021 The Manager-Listing Department National Stock Exchange of India Limited, ‘Exchange Plaza’, C-1, Block —G Bandra Kurla Complex, Bandra —East Mumbai—400051 Listing Department BSE Limited Phiroze Jeejeebhoy Towers 25" Floor, Dalal Street Mumbai- 400001 Sub : Outcome of Board Meeting dated 03.05.2021 Scrip Code No. : PILITA/ 500327 Dear Sir/Madam, Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the meeting of the Board of Directors of the Company held today i.e. Monday, May 03, 2021 approved the following: 1) Audited Financial Results of the Company for the Fourth Quarter and Financial Year ended as on 31” March, 2021 along with Auditors Report and Declaration on unmodified opinion on Auditor's Report is enclosed. 2) Reappointment of M/s P. Talesara & Associates, Company Secretary in practice as Secretarial Auditor and M/s A. Modi & Co. , Chartered Accountants as Internal Auditor for the financial year 2021-22. The meeting was commenced at 12.15 P.M. and concluded at 03.00 P.M. The copy of results as aforesaid, is also available on the website of the company i.e. www. italica.com. Kindly take the above on your records. Thanking you, Yours faithfully, For PIL ITALICA LIFESTYLE LIMITED Aditi Parmar (Company Secretary) M.No.A37301 Enclosed: a/a www.italica.com Kodiyat Road, Sisarma, Udaipur - 313 031 (Rajasthan) S& +91-93144-11101
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ITaAllta E info@italica · 2021. 5. 3. · ITaAllta PIL ITALICA LIFESTYLE LIMITED (An ISO 9001 : 2015 Certified Company) CIN : L25207RJ1992PLC006576 +91-96 499 71111 & 0294-2432272
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ITaAllta
PIL ITALICA LIFESTYLE LIMITED (An ISO 9001 : 2015 Certified Company)
Standalone Audited Statement of Assets and Liabilities
As at March 31, 2021 (Rs. In Lakhs)
Particulars As at
March 31,2021 _| March 31,2020 Audited Audited
ASSETS 1|Non Current assets
a_Property , plant and equipment 735,15 618.16
6 Capital work in pi 0.00 0.00
¢ Investment Pri ty 0.00 0.00
d Intangible assets 2.43 1.78
e Financial Assets Investments 0.00 1.00
Loans 0.00 0.00
Other Financial Assets 0.00 0.00
f Deferred Tax assets 141.08 265.70
g Other Non Current assets 91.53 51.64
Total Non Current Assets 970.19 938.28
2|Current Assets a inventories 1733.57 1116.85
b financial assets 0.00 0.00
Investments 0.00 0.00
Trade Receivables 477.74 594.57
Cash and cash equvalents 8.97 21.16
Bank Balances other than cash and
cash equivalents 113.08 0.00
Loans 3831.17 4031.36
Other Financial Assets 0.00 0.00
c Other current assets 347.90 QTA.7E
Total Current Assets 6512.43 6035.71
Total Assets 7482.62 6973.99
EQUITY AND LIABILITIES
a_ Equity Share Capital 2350.00 2350.00 b Other Equity 4050.53 3679.99
Total Equity 6400.53 6029.99 Liabilities
1|Non Current Liabilities
a financial liabilities Borrowings 22.12 0.00
Other Financial Liabilities 0.00 0.00
b Provisions 0.00 0.00
c Deferred Tax Liabilities Net 0.00 0.00
Total Non Current Liabilities 0.00 0.00 2|Current liabilities
a Financial Liabilities
Borrowings 590.71 378.23
Trade Payables 0.00 0.00 (a) Total outstanding of creditors micro and
small enterprises 0.00 0.00
(b) Total outstanding of creditors other than micro and small enterprises 341.63 454.52
Total Trade Payables 341.63 454.52
Other Financial Liabilities 0,00 0.00
b Other Current Liabilities 112.49 99.27
c Provisions 14.54 11.98
d Current Tax Liabilities (net) 0.00 0.00
Total Current Liabilities 1059.37 944.00
Total Liabilities 1082.09 944.00 Total Equity and Liabilities 7482.62 6973.99
For:- AJAY PALIWAL & CO. Chartered Aeon nts
fAjay. Paiva) Proprietor
M.No. 403290 | R. No. 012345C
PIL ITALICA LIFESTYLE LIMITED
Cash Flow Statement for the year ended 31st March, 2021
Rs. In Lakhs
For the year For the year Particulars ended March | ended March
31, 2021 31, 2020
(A) CASH FLOW FROM OPEARTING ACTIVITIES
Net profit before tax 495.14 432.82 Adjustments to reconcile profit to net cash
provided by operating activities :
Depreciation and amortization expenses 48.29 39.77 Interest_expenses 39.07 19.02 Interest income (262.98) (251.38) Operating profit before working capital changes i 319.52 240.23
Changes in assets and liabilities
(Increase) /Decrease financial assets -investment 1.00 = (Increase) /Decrease non current assets-other assets (39.89) (8.25) (Increase) /Decrease in inventories (616.73) (233.81) (Increase) /Decrease in trade receivables 116.83 (117.52) (Increase) /Decrease in current assets-loans 200.20 (194.02) (Increase) /Decrease in other current assets (76.11) (107.40) (Increase) /Decrease in Bank balance other than (113.08) = Cash and cash equivalent
TOTAL (527.78) (661.00)
Increase /(Decrease ) in trade payables (112.88) 114.62 Increase /(Decrease ) in other current liabilities 13.22 (23.47) Increase /(Decrease ) in short term provisions 2.56 0.27
TOTAL (97.10) 91.42
Cash generated from operations (305.36) (329.35) Income taxes paid during the year = (45.93)
Net cash generated from operating activities (305.36) (375.28) B) CASH FLOW FROM INVESTING ACTIVITIES
Purchases of Property, Plant and Equipments (165.94) (222.56) Net cash generated from investing activities (165.94) (222.56) B) CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from borrowing 235.20 378.23 Interest paid (39.07) (19.02) Interest income 262.98 251.38
Net cash generated from financing activities 459.11 610.59 Net increase /decrease in cash and cash equivalents (12.19) 12.75 Opening balance of cash and cash equivalents 21.16 8.41 Closing balance of _cash and cash equivalents 8.97 21.16
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and
prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to
fraud or error.
In preparing the Statement, the Board of Directors are responsible for assessing the Company’s ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.
The Company’s Management and the Board of Directors is also responsible for overseeing the financial reporting
process of the Company.
Auditor’s Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole are free from material
misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of
users taken on the basis of the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:
e Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud
or error, and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion.The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
e Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our
opinion through a separate report on the complete set of financial statements on whether the company has: adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such
controls.
e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by the Board of Directors.
e Conclude on the appropriateness of the Management and Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s reportto-tl lated disclosures in the standalone
annual financial results or, if such disclosures are inadequate, to modifyopr anu conclusions are based on the + fugure re ea or conditions may cause the
Sub: Declaration of Unmodified Audit Report pursuant to Regulations 33(3) (d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
|, Narendra Bhanawat, Whole time Director and Chief Financial Officer of PIL Italica Lifestyle Limited having its registered office at Kodiyat Road, Village Sisarma, Udaipur (Raj.) - 313031 hereby declare that M/s Ajay Paliwal & Co., Statutory Auditors of the Company, have issued an Audit Report with unmodified opinion on Audited Standalone Financial Results of the Company for the quarter and year ended on March 31, 2021.
This declaration is given pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 as amended and Circular no. CIR/CFD/CMD/S6/2016 dated May 27, 2016.
Kindly take this declaration on record.
Yours faithfully, For PIL ITALICA LIFESTYLE LIMITED