MAJESTIC · MAJESTIC 5 Statement of Aaaets and Liabilities (Standalone - Unaudited) Rs In Lakhs Standalone As at As at Particular. 30 S..ptombor 2018 31 March 201 a Unaudited Audited

MAL/SECTT /BSE/

Date: 30.10.2018

To

Bombay Stock Exchange Limited

25th Floor, Phiroze Jee Jee Bhoy Towers

Dalal Street. Mumbai - 400 001

MAJESTIC

SUBJECT: UNAUDITED FINANCIAL RESULTS FOR THE QUARTER & HALF YEAR ENDED

30/09/2018

Dear Sir's

Pursuant to Regulation 30 and any other applicable provision of SEBl (Listing Obligations &

Disclosure Requirements) Regulations 2015, we wish to inform you that the Board of Directors of

the Company at its meeting held today, 30.10.2018, has inter alia, taken following decisions:

1. The Unaudited Standalone and Consolidated financial results for the quarter and half yearended 30/09/2018 as recommended by Audit Committee at its meeting held on30/10/2018 were considered and approved.

Thanking you.

Yours Faithfully,

For Majestic Auto Limited

�Mahesh Munjal

Managing Director

MAJESTIC AUTO Lll\'UTED CIN Nn I �.I\Q11PR1Q7�PI r.nn�?�,t

SAR & Associates Chartered Accountants

Limited Review Report on Unaudited quarterly financial results of Majestic Auto Limited Pursuant to the regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

To The Board of Directors of Majestic Auto Limited

We have reviewed the accompanying statement of unaudited financial results of MAJESTIC AUTO

LIMITED for the period ended Sep 30, 2018 and its subsidiaries (The Company and its subsidiary together

referred to as Group) for the quarter ended Sep 30, 2018 ('the statement") being submitted by the Company

pursuant to the requirements of regulation 33 of SEBI (listing and disclosure requirements) Regulations 2015.

This statement is the responsibility of the Company's management and has been approved by the Board of

Directors/ committee of Board of Directors has been prepared on the basis of related consolidated financial

statements of Group and the standalone financial statement of the Company for the quarter ended Sep 30,

2018, which is in accordance of the Indian Accounting Standard (IND AS and other applicable accounting

standard) of the Companies Act 2013, read with relevant rules issued there under and other Accounting

principles generally accepted in India. Our responsibility is to issue a report on these financial statements

based on our review.

We conducted our review of the statements in accordance with the Standard on Review Engagement (SRE}

2410, Review of Interim financial information performed by the independent Auditors 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 financial statements are free of material misstatement. A

review is limited primarily to inquiries of company personnel and analytical procedures applied to financial

data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do

not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that

the accompanying statement of unaudited financial results prepared in accordance with applicable

accounting standards and other recognised accounting practices and policies has not disclosed the

information required to be disclosed in terms of Regulation 33 of the SEBI (Listing obligation and Disclosures

Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any

material misstatement.

For SAR & ASSOCIATES

Chartered Accountants

Partner

M no 123328

October 30, 2018

New Delhi

Branch Office: A-110, G.F. Sector-4, NOIDA Cell:+ 91-9999700657

MAJESTIC

5 Statement of Aaaets and Liabilities (Standalone - Unaudited)

Rs In Lakhs

Standalone

As at As at Particular. 30 S..ptombor

2018 31 March 201 a

Unaudited Audited ASSETS

Non-current aaaets

Property, plant and equipment 2,232.94 7,154 28 Intangible assets 11 36 13.01 Financial assets

Investments 36,022 75 41,646 84 Loans 1,033 88 184 40

Other finap<;ial assets - -

Oeferred tax assets (net) 487 64 -

Non - current tax assets (net) 1(),1.37 70.84

Other non-current assets -

Total non-current assets 39,892.94 49,069.37

Current assets

Inventories 6,843.33 384 51

Financial assets

Investments 101 99 -

Trade receivables 475.06 756.11

Cash and cash equivalents 3 79 5 74

Other bank balances 56 10 54 59

Loans 92 11 -

01her financial assets 169 22 443 95

Current tax assets (net) 325 00 -

Other current assets 145 18 140.03

Total current assets 8,211.78 1,784.93

Assets classified as held for sale 1,366.61 3,609.71

Total Assets 49,471.33 54 464.01

EQUITY AND LIABILITIES

Equity

Equity share capital 1 039 82 1,039 82

Other equity 35.798.31 40,224.72

Total equity 36,838.13 41,264.54

Llabllltles

Non-current liabilities

F onanclal liabilities

Borrowtngs 6,008.32 10,237.52

Other financial liabiltties 16.45 6.25

Provisions 19 69 4 93

Deferred tax liabilities (net) 641 35

Total non-curre[lt liabilities 6,044.46 10,890.05

Current llabllltles

Financial liablities Borrowings

Trade payables 307.04 326 85

Other financial liabilities 6.070 75 669 60

Other current liabilities 210 95 398 79

Provisions 15 58

Total current llabllitles 6,588.74 1,410.82

Liabilities directly associated with assets classified as held for sale 898 60

Total eaultv and llabllltles 49 471.33 54 464.01

FOR AND ON BEHALF OF BOARD OF DIRECTORS

Place : Noida Mahesh Munjal

Date : 30 October 2018 Chairman and Managing Director

l\IAJESTIC AL'TO Ll;\,ll TED r.lN Nn I ':li:.011 D�107':lDI rnn')')<:A

CN0 Majestic Auto Limited

MAJES' r1c Regd. Office: C-48, Focal Point, Ludhiana -141010 Statement of Consolidated Financial Results for the Quarter and half year ended on 30 September 2018

Rs. In Lakhs Consolidated

Quarter ended on Half vear ended on Year ended on 30 September 30 June 2018 30 September 30 September 30 September 31 March 2018

Particulars 2018 2017 2018 2017 Unaudited Unaudited Unaudited Unaudited Unaudited Audited

1 Income a) Revenue from operations 1,293.42 1,686.20 1,333.00 2,979 62 2,720.15 5,577.24

bl Other income 414.05 5.58 301.22 419.63 318.21 877.68

Total Income 1,707.47 1,691.78 1,634.22 3,399.25 3,038.36 6,454.92 2 Expenses

a) Cost of services 290.08 293.07 326 13 583.15 711 85 1.062 78 b) Employee benefits expense 104.18 112.41 54.73 216.59 110.22 455 60 c) Finance costs 513.59 522.42 482.41 1.036 01 953 61 2,297 12 d) Depreciation and amortisation expense 165.70 166.20 155.46 331 90 311 20 81934

el Other expenses 276.02 116.48 97.12 392.50 204 62 733 59 Total exoenses 1,349.57 1,210.58 1,115.85 2,560.15 2,291.50 5,368.43 Profit/floss) before exceotlonal Items and tax 11-21 357,90 481.20 518.37 839.10 746.86 1,086.49

Exceptional Items 3 Profit before tax from contlnulna ooeratlons 11-21 357.90 481.20 518.37 839.10 746.86 1,086.49

4 Tax exoense a) Current tax (Including minimum alternate tax eartier years) 39.03 108.62 40 30 147 65 86 95 177 68

Less: MAT reversaV (entJ�ement) o 18 (0 18) (6 03) (6 77)

b) Deferred tax (cted1t)I charge (33.76) 37 55 (76 38) 3 79 (133.21) (137 18)

C) Eartier vears tax adiustments Inell 8 63

Total tax exoensel/credltl 5.45 145.99 142.111 151.44 153.031 49.13

5 Net profit after tax from conttnulna operations 13-41 352.45 335.21 560.48 687.66 799.89 1,037.36

6 Discontinued operations Loss from discontinued operations before tax (2.43) (47.74) (485 31) (50 17) (1,174 30) (1,761.81)

Tax exoense/ lcteditl of discontinued ooerations (52.12) 114.11 (167.321 61 99 1310 561 1459.75)

Profit/I Loss) from discontinued ooeratlons 49.69 1161.851 1317.991 1112.16 1863.74) (1,302.06)

7 Net (lossl/ profit after tax (5+6) 402.14 173.36 242.49 575.50 163.851 1264.701

Attributable to : Shareholders of the Company 392.21 84.30 211 48 476 52 (129 89) (359 73)

Non-controlling interest 9.93 89.05 31.01 98.98 66.04 95.03

8 Other comorehenslve Income (i) Items that wilt not be reclasSJfied to profit or loss (4,971.05) (651.04) 821 07 (5,622.09) 5.397 65 3.356 97 (ii) Income tax relatina to items that wilt not be reclassified to orofit or loss 1,071.20 140.29 1240 121 1,211 49 11,151 94) (269.451

Other comprehensive Income 13,899.851 1510.751 580.95 14,410.60 4,245.71 3,087.52

9 Total comprehensive Income 17+81 (3,497.71) 1337.39) 823.44 (3,835.101 4 181.86 2,822.82

Attributable to Shareholders of the Company (3,507 64) (426 45) 792 43 (3.934 08) 4,115 82 2.727 79

Non-controllina Interest 9.93 89.05 31 01 98 98 66 04 95 03

Total comprehensive Income attributable to owners Arises from:

Conunulng operauons (3,547.40) (175 55) 1,141 43 (3,722 94) 5,045 60 4 124 88

Discontinued operations 49.69 1161.851 (317 991 1112 161 1863 741 11,302 061

10 Pald-uo eaultv share caoltal rFace value of Rs 10 oer eauitv share) 1,039.82 1,039.82 1,039.82 1,039.82 1,039.82 1,039.82

11 Earnings per share for contlnulna ooeratlons (a) Basic (in Rs.) 3 39 3 22 5 39 6 61 769 9 98

(bl Diluted (1n Rs. l 3.39 3 22 5 39 6 61 7 69 9 98

Earnings per share for discontinued ooeratlons (a) Basic �n Rs.) 0.48 (1 56) (306) (1 08) (8 31) (12 52)

(bl Diluted (in Rs.I 0.48 (1.56) (3.061 11 081 18 311 (12 521 Earnings per share for continuing & discontinued operations (a) Basic (in Rs.) 3.87 1.67 2.33 5 53 (0 61) (2 54)

(bl Diluted (in Rs.) 3.87 1.67 2.33 5 53 C0 61) 12 541

Notes to consolldated financial results:

Tne above resuns have been reviewed by the Audit Committee at their meeting held on 30 October 2018 and thereafter approved by tne Board of Directors at their meeung held on 30 October 2018.

2 This statement has been prepared In accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind AS) prescribed under section 133 or the Companies Act, 2013 and other recognised accounijng practices and policies to the extent applicable.

3a Pursuant to official notification issued on Bombay Stock Exchange ("BSE") dated 2 August 2017 and 7 September 2017 for etectncal motor business of Its -Electricals" d1v1sion and offictal notification issued on Bombay Stock Exchange ("BSE") dated 5 October 2017 tor fine blanking components business of its -Fine blanking components· d1v1S1on, the Group has discontinued both the divisions due to lack of viable orders, profitability and capital investment requirements for new technology Consequently, loss before tax, tax expense and loss after tax for both tho divisions has been disclosed separately as discontinued operations in the above financial results.

3b Loss from discontinued operation Includes : Rs In Lakhs

Quarter ended on Half vear ended on Year ended Particulars 30 September 30 June 2018 30 September 30 September 30 September

2018 2017 2018 2017 31 March 2018

Income from ordinary activities attributable to d1scont1nued operations 66 49 49 01 2,276 26 115 50 7.672 44 8.516 64

Expenses attributable to disconUnued operations 68.92 96.75 2,761 57 165 67 8,646 74 10.278 46

Loss before Income tax from discontinued operations (2.43) (47.74) (485.31) (50.17) (1,174.30) (1,761.82)

Income tax expense/ (aedit) (52.12) 114.11 (167 32) 61 99 (310 56) (459 75)

Proflt/llossl from discontinued ooeratlon 49.69 (161.85) 1317.991 1112.161 1863.74) (1,302.07)

MAJESTIC AUTO LIMITED