MAURIA UDYOG LIMITED

MAURIA UDYOG LIMITED(AN ISO 14001 amp OHSAS 18001 CERTIFIED COMPANY)

Works SohnaRoad Sector-25 Faridabad-121 004 (Haryana) INDIAPh +91-129-4092000 Fax +91-129-2231220 Visit us wwwmauriacom

CIN L51909WB1980PLC033010 e-mail Id-mauriamauriacom

September 04 2020ToBSE LimitedThe Department of Corporate ServicesPJ Towers Dalal StreetMumbai- 400001Scrip Code 539219

Calcutta Stock Exchange Ltd7 Lyons RangeKolkata - 700 001West BengalScrip Code 023114

Sub Outcome of Board Meeting Pursuant to Regulation 30 of SEBI (Listing Obligations amp DisclosureRequirements) Regulations 2015

Scrip Code BSE 539219 CSE 023114Date of Board Meeting Friday September 04 2020Venue 602 Chiranjiv Toweras Nehru Place New Delhi-110019Board Meeting started at 0300 PM Board Meeting closed at 440 PM

Dear Sir

With reference to our previous letter dated July 312020 we would like to inform your good office that a meeting of theBoard of directors convened and held today at 0300 PM and concluded at 440 PM and among other things theBoard pursuant to Regulation 33 read with Regulation 30 (2) of SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 has inter-alia considered and approved the following-

1 Standalone Audited Financial Results for the Quarter and Financial year ended 31 st March 2020 Enclosed asAnnexure 1

2 Standalone Statement of Assets amp Liabilities as at 31st March 2020 alongwith Cash-flow Statement Enclosedas Annexure 2

3 Statement of Audited Segment-wise Results for the Quarter and Financial year ended 31st March 2020Enclosed as Annexure 3

4 Audit Report on the aforementioned Financial Results Enclosed as Annexure 35 Declaration from the management of the Company Wrt Unmodified Opinion of Auditor on those Financial

Results Enclosed as Annexure 4

Further in pursuance to the SEBI (Prohibition of Insider Trading) Regulation 2015 and the Companys Code ofConduct formulatedthereunder the trading window for dealing in securities of the Company is closed since April 0]2020 and shall remain closed upto 48 Hrs from the date of Board meeting to be held for considering amp approving thefirst Quarters result for which a separate intimation shall be given to your exchange in due course

You are requested to take the aforementioned information on your records

Enel ala

Head Office 602 Chiranjiv Tower 43 Nehru Place New Delhi-II 0019 Ph+91-11-264476454647 Fax+91-11-26234244Regd Office RoomNo107 1 Floor Anand Jyoti Building 41 Netaji Subhas Road Kolkata-700001 Ph +91-33-65180616

Mfrs of LPGCYLINDERS-VALVES-REGULATORS-IMPORTERS amp EXPORTERSGOVT RECOGNISED EXPORT HOUSE

MAURIA UDYOG LIMITEDCIN No- L51909WB1980PLC033010

Registered Office RoomNo107 Anand Jyoti Building 1st floor 41 Netaji Subhas Road Kolkata West Bengal 700001

Ph No- 033-65180616 E-mailld mauriamauriacom Web-sitewwwmauriain

AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31 2020

(Rs In lacs except per share data)

For the quarter ended For the year ended

Particulars March 31 December March 31 March 31 March 31

2020 312020 2019 2020 2019Audited Unaudited Audited Audited Audited

INCOME

I (a) Revenue From Operations 842157 187443 2767298 5429547 11883311

II (b) Other Income 1374 142 1206 4791 5052

III Total Income (1+11) 843531 187585 2768504 5434338 11888363

IV EXPENSES

a Cost of materials consumed 292623 40510 219927 893205 2195003

b Purchases of Stock-in-Trade 307223 - 2132718 3620563 8209210

c Changes in inventories of finished goods Stock-in-Trade and Work-in- 496382 17041 107856 415326 (373581)

progressd Employee benefits expense 21585 16664 28029 80155 96655

e Finance costs (48131) 79120 141997 243540 431092f Depreciation and amortization expense 7129 7542 15383 40866 52744

g Other expenses 169739 32276 137795 643631 1211848

Total expenses (IV) 1246549 193152 2783704 5937286 11822971

V Profit(Ioss) before exceptional items and tax (I-IV) (403018) (5567) (15200) (502948) 65393VI Exceptional Items (150000) - 2671 (150000) 2671VII Profit(Ioss) before tax (V-VI) (553018) (5567) (12529) (652948) 68064VIII Tax expense

(1) Current tax (9656) - 1500 - 29000(2) Deferred tax 170227 - 3216 170227 4031

IX Profit (Loss) for the period from continuing operations (VII-VIII)(373135) (5567) (10813) (482721) 43095

X Profit(Ioss) for the period (373135) (5567) - (482721) 43095XI Other Comprehensive Income

A (i) Items that will not be reclassified in Profit amp Loss 4579 (010) 1267 3689 3175(iilncome Tax relating to items that will not be reclasssified to Profit -

amp LossB (i) Items that will be reclassified in Profit amp Loss (1528) 003 (400) (1231) (1060)(ii)lncome Tax relating to items that will be reclasssified to Profit amp

Loss -

XII Total Comprehensive Income for the period (X+XI) (ComprisingProfit (Loss) and Other Comprehensive Income for the oerlodl (370084) (5574) 867 (480263) 45210

XIII Paid Up Capital (Face value of Share is RS 10- each) 133200 133200 133200 133200 133200XIV Other Equity as Shown in the audited balance Sheet 818679 1281237

XV Earnings per equity share (for continuing operation)

(1) Basic (2778) (042) 007 (3606) 339(2) Diluted (2778) (042) 007 (3606) 339

XVI Earnings per equity share (for discontinued operation)

(1) Basic - - - - -(2) Diluted - - -

XVII Earnings per equity share(for discontinued amp continuing operations)

(1) Basic (2778) (042) 007 (3606) 339(2) Diluted (2778) (042) 007 (3606) 339(See accompanying notes to financial results) U

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Date 04-09-2020Managing D ec lt~)

Place New DelhifNa neet Kumar ~el(a)

DIN00054929 I~-----

MAURIA UDYOGLIMITEDClN No- L51909WB1980PLC033010

Registered Office RoomNo107 Anand Jyoti Building 1st floor 41 Netaji Subhas Road Kolkata West Bengal 700001Ph No- 033-65180616 E-mailld mauriamauriacom Web-sitewwwmauriain

Notes to the Standalone Financial Results for the quarter and year ended March 31 2020

1 The above audited financial results have been prepared in accordance with the recognition and measurement principles of IndianAccounting Standards (Ind AS) prescribed under Section 133 of the Companies Act 2013 read with the relevant rules issuedthereunder and the other accounting principles generally accepted in India

2 Segment results forming part of Audited results for the quarter and Financial year ended on 31032020 have been prepared as perInd-AS108

3 The above Audited financial results for the quarter and Financial year ended on 31032020 were reviewed by the AuditCommittee and approved by the Board of Directors in their respective meetings held on 04092020

4 The audit as required under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and DisclosureRequirements) Regulations 2015 has been completed by the Auditors of the Company and the related report is being submittedto the concerned Stock Exchanges

5 During the Period there are no changes in the accounting policies of the Company

6 Previous year period figures have been rearranged regrouped wherever necessary to make them comparable with current periodfigures The figures for quarter ended 31st March 2020 are balancing figures between the audited figures of the full financial yearand the Unaudited year-to-date figures up to the third quarter of the financial year

7 Consequent to the report of the forensic Auditor undertaken as per the direction of the Honble Supreme Court of India to lookinto transactions between Amrapali group of companies and Sureka group of companies After which the Honble Supreme Courtvide its Order No Writ Petition(s)(Civil) Nojs) 9402017 dated 02122019 has directed Ms Jotindra Steel amp Tubes Ltd amp MauriaUdyog Ltd including associated companies and Directors viz Mr Navneet Sureka and Mr Akhil Sureka to deposit Rs 167 Crores Inresponse to the order of the Honble Supreme Court it has filed an application on 09122019 before the Honble Supreme Courtto accept the Title -deeds of immovable properties belonging to Sureka family members and associate companies (based on latestvaluation report) worth amounting to RS20831Crores and after reducing the incumbency amount of Rs 3934 Crores balancevalue of properties work out to Rs 16897 crores which includes Property valuing Rs 10182 Crores in the name of Mauria UdyogLimited Based on order of the Honble Supreme Court directors of the company has estimated a liability of Rs 1500 Crores as on31032020 and since original title-deeds of Immovable properties having gross value of Rs 20831 crores has already beendeposited as guarantee to supreme court the liability arising from the order dated 02122019 can be considered as settled andaccordingly It has been recorded in books

8 Impact Qf Covid-19 A nation-wide lockdown was declated by the Government of India wef March 24 2020 due to out-break ofCovid-19 pandemicwhich was extended in phases upto May 31 2020 However the Company received permission from localadministration to re-open its workplace amp office after establishing thorough and well-rehearsed safety middotprotocols The Company isoperational wef April 14 2020 following all the guidlenesrestrrictions and conditions for reopening and the confidence ofworkmenstaff and customers is restored This pandemic has resulted in significant decrease in economic activities across all thesectors of economy incliuding that of our company The Company has considered the possible effects that may result from theCOVID- 19 pandemic on the carrying value of property plant and equipment inventories receivables and other assets Indeveloping the assumptions relating to the possible furure uncertainties in the global economic conditions because of thispandemic the Company as at the date of approval of these financial statemen has used internal and external sources ofinformation and concluded that no adjustments are required to the financial results Given the dynamic nature of pandemic theCompany will continue to monitor the evolving scenario for any material changes

9 The Company has defaulted in repayment of its borrowing taken from various banks NBFCsand accordingly these loans havebeen classified as Non-Performing Assets (NPAs) by the respective banks NBFCsThe Cornpanv has not been recognising intereston such loans from the date of NPA classification by respective banks NBFCsThe amount of interest expenses cannot beascertained

10 The Company has measured investments in unquoted equitv shares based on Net Asset Value of such equity shares as at 31 March2019 The impact of fair valuation cannot be ascertained

11 The Company has not provided the impairment loss or gain on trade receivables as required by Ind AS 109 Financial Instruments The impact of such non-compliance cannot be ascertained

12 The Company has taken various loans from banks NBFCsin the previous years and has paid one-time processing charges on suchloans As per Ind AS 109 processing charges paid to banks NBFCsagainst the loans are charged over the tenure of the borrowingsUsing the Effective Interest Rate (EIR) However the Company has recognised prepaid asset against such one-time processingcharges and is amortizing the same over the tenure of loan on straight line method

13 The results will be available on the Companys website wwwmauriain and at the stock exchwwwbseindiacom amp CSEie wwwcse-indiacom

Place New Delhi

MAURIA UDYOG LIMITEDCIN No- L51909WB1980PLC033010

Registered Office RoomNo107 Anand Jyoti Building 1st floor 41 Netaji Subhas Road Kolkata West Bengal 700001Ph No- 033-65180616 E-mailld mauriamauriacom Web-sitewwwmauriacom

STATEMENT OF STANDALONE ASSETSAND LIABILITIES AS AT MARCH 31 2020(Rs in Lacs)

Statement of Assets and Liabilities

ParticularsMarch 31 March 31

2020 2019Audited Audited

A ASSETSI1 Non-Current Assets

Property Plant and Equipment 499205 551221Capital work-in-progress - 1101

Other Intangible assets 060 062Investment Property 868190

(i) Investments 32604 39107(ii) Loans 61498 66295

Deferred tax assets (net) 141157

Other non-current assets 5554 4939

Total Non- current assets 1608268 662724

2 Current AssetsInventories 645702 1124008Financial Assets

(i) Trade receivables 2964770 3643680(ii) Cash and cash equivalents 8541 154758(iii) Loans 336179 1060711

Current Tax Assets(net) 25416 32488Other Current Assets 124800 69636

Total current assets4105407 6085281

Total Assets 5713675 6748005

B EQUITY AND LIABILITIES1 Equity I

Equity Share capital 133200 133200Other Equity 818679 1281237

Total equity 951879 14144372 LIABILITIES

Non-Current LiabilitiesFinancial Liabilities

(i) Borrowings 984159 1189694Deferred tax liabilities (Net) - 29070

Total Non- current liabilities 984159 12187643 Current Liabilities

Financial Liabilities(i) Borrowings 2503060 1403600(ii) Trade payables 960058 2111695(iii) Other financial liabilities 182943 376695

Other current liabilities 122526 185563Provisions 9051 8252Current Tax Liabilities (Net) 29000

Total current liabilities 3777638 4114805Total Equity and Liabilities 5713675 6748005

For Mauri~ y Limite

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Date04-09-2020(N1VoFet Kumar Su ka)

Place New Delhi ~gg Dire 1100054929~-----7-

MAURIA UDYOG LIMITEDCIN No- L51909WB1980PLC033010

Registered Office- RoomNo107 Anand Jyoti Building 1st floor 41 Netaji Subhas RoadKolkata West BengalPh 033-65180616 E-Mailld mauriamauriacom Web-site wwwmauriain

AUDITED STANDALONE STATEMENT OF CASH now FOR THE YEAR ENDED MARCH 31 2020

(Rs In Lacs)Year ended

Year endedParticulars March 31

March 31 20192020Audited Audited

A CASH FLOW FROM OPERATING ACTIVITIESNet Profit before Tax (652948) 68064Other Comprehensive Income 3689 3175

(649259) 71239Adjustment for - -Provision for Leave encashment and Gratuity 2513 (759)Depreciation 40866 52744

Interest Paid 256957 469666Loss(Profit on Sale of Investments 1025 -

Loss(Profit on Sale of Fixed Assets (748) 792Impact of measuring investments at Fair Value (129) (1905)Deferrement of Processing Charges as per Ind AS (3560) (1270)Interest Received (13417) (38574)Dividend Received (003) (005)Operating Profit before Working Capital Changes (365754) 551928Adjustments for - -Trade Recievables amp Other assets 1353075 704802Other Current Liability (63037) 75669Trade Payables (1151637) (205272)Inventories 478306 (IOI646)Short term Provision - (697)CASH GENERATED FROM OPERATIONS 250954 1024784Interest paid (256957) (469666)Direct Tax paid (4223) (37760)NET CASH now FROM(USED IN) OPERATING ACTIVITIES (10226) 517358

B CASH FLOW FROM INVESTING ACTIVITIES - -Sales(Purchase of Investments (Net) 5606 (094)Interest Received 13417 38574Purchase of Fixed Assets (4782) (22483)Investment in property (868190)Sale of Fixed Assets 17783 1335Dividend Received 003 005NET CASH now FROM(USED IN) INVESTING ACTIVITIES (836163) 17337

C CASH now FROM FINANCING ACTIVITIES - -Proceeds(Repayment of Borrowings 700172 (534659)Dividend Paid - -Dividend Distribution Tax - -NET CASH now from FINANCING ACTIVITIES 700172 (534659)

INCREASE IN CASH OR CASH EQUIVALENTS (A+B+C) (146217) 036Cash and Cash Equivalents at beginning of the year 154758 154722Balance at the end of the year 8541 154758

IFor Mauri 1U yog Lt

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~Date 04-09-2020(Navnee ltumar S r a)

Managrn Egti eftaPlace New Delhi DIN 0005ZJ 29

MAURIAUDYOGLIMITEDCIN No- L51909WB1980PLC033010

Registered Office RoomNo107 Anand Jyoti Building 1st floor 41 Netaji Subhas Road Kolkata West Bengal 700001Ph No- 033-65180616 E-mailld mauriamauriacom Web-sitewwwmauriain

AUDITEDSTANALONEFINANCIALRESULTSFORTHEQUARTERANDYEARENDEDMARCH31 2020STANDALONESEGMENT REVENUERESULTSASSETSAND LIABILITIES

(Rs In lacs)For the quarter ended For the year ended Audited Unaudited Audited Audited Audited

Segment Wise PerformanceMarch 31 December 31 March 31 March 31 March 31

2020 2019 2019 2020 2019Segment Revenue(a) Segment-A 525769 165641 623897 1726696 3581647(b) Segment - B 312655 21802 2141050 3699118 8299313(c) Segment - C 3733 - (1495) 3733 2351Total Segment Revenue from Operations (Gross) 842157 187443 2763452 5429547 11883311

Segment Results (Profit)(+) Loss (-) beforetax and interest from Each segment) -

(a) Segment-A (461009) 73131 93192 (313890) 398322b) Segment - B 4755 280 35098 45959 95810(c) Segment- C 316 142 (1495) 3733 2351Total (455938) 73553 126795 (264198) 496483Less Interest (48131) 79120 141997 243540 431092Add Un-allocabale income 4791 - 2672 4791 2672Total Profit Before Tax (403017) (5567) (12530) (502948) 68063

ProfitLoss) before tax (403017) (5567) (12530) (502948) 68064Less Exceptional items (150000) - (150000) -

ProfitLoss) before tax after exceptional item (553017) (5567) (12530) (652948) 68064Less Tax Expenses 179883 - 1716 170227 (24969)Net ProfitLoss) for the period (373134) (5567) (10814) (482721) 43095Other Comprehensive Income 4579 (010) 1267 3689 3175Less Tax Expenses on Comprhensive Income (1528) 003 (400) (1231) (1060)Total Comprehensive Income (370083) (5574) (9947) (480263) 45210Capital Employed

(Segment assets - Segment Liabilities) 739961 1101906 1211494 739961 1211494

Segment Assets(a) Segment - A 4343335 4614449 4651130 4343335 4651131b) Segment - B 1337736 2088932 2057768 1337736 2057768(c) Segment - C 32604 39082 39107 32604 39107(d) unallocated - - -Total 5713675 6742463 6748005 5713675 6748006Segment Liabilities(a)Segment A 3952593 3863501 3765993 3952593 3765994b) Segment B 1021121 1777057 1770517 1021121 1770517(c) Segment C - - -Total 4973714 5640558 5536511 4973714 5536512

For middotmiddotrmiddot Udyo Ltd0 c_ j

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Date 04-09-2020Mana~ Dit tor

(Navneet Kumar Sureka)Place New Delhi ~

DIN00054929

L K Behania amp C~Chartered Accountants

41 Netaji Subhash Road4th Floor Room No - 404Kolkata-700 001Off - 2230 99022231 1686Fax - 033-22102438Email bohania2010gmailcom

Qualified Opinion is expressed on the QuarterlyAnnual Financial Results for theQuarterYear Ended 31st March 2020

Independent Auditors Report on Last -Quarter 4th Quarter Standalone Financial Result forQuarter Ended 31st March 2020 (From 01012020 to 3110312020) as well as year to dateresults of Annual Standalone Financial Results for the year ended 31st March 2020 (From

011042019 to 311032020) ofthe Company Pursuantto the Regulation 33 and 52 ofthe SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 as amended

The Board of DirectorsMAURIA UDYOG LIMITEDCINL51909VVB1980PLC03301041 N S RoadAnand Jyoti BuildingRoom No 107 1st Floor Kolkata - 700 001

Report on the audit ofthe Standalone FinancialResults

Qualified Opinion

We have audited the Quarterly Standalone financial results and Annual Standalone financialresults of Mauria Udyog Limited for the quarter ended 31st March 2020 (from 01012020 to31032020) as well as year to date results of annual year ended 31st March 2020 (from01042019 to 31032020) attached herewith being submitted by the company pursuant to therequirement of Regulation 33 amp 52 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 as amended (the Listing Regulations) These quarterly Standalone financialresults as well as the annual year to date Standalone financial results have been prepared on thebasis of the interim financial statements which are the responsibility of the companys managementin compliance Our responsibility is to express an opinion on these financial results based on ouraudit of such interim financial statements which have been prepared in accordance with therecognition and measurement principles laid down in Accounting Standard for Interim Financial Reporting (Ind AS 34) prescribed under Section 133 of the Companies Act 2013 read with relevantrules issued thereunder or by the Institute of Chartered Accountants of India as applicable andother accounting principles generally accepted in India

In our opinion and to the best of our information and according to the explanations given to usexcept for the effects possible effects of the matters described in the Basis for Qualified Opinionsection of our report the aforesaid Statement

i is presented in accordance with the requirements of Regulation 33 of the SEB (ListingObligations and Disclosure Requirements) Regulations 2015 as amended and

ii

Cont P2

11211

Basis for Qualified Opinion

1 The Company has defaulted in repayment of its borrowing taken from various banks NBFCsand accordingly these loans have been classified as Non-Performing Assets (NPAs) by therespective banks NBFCs The Company has not been recognizing interest on such loans fromthe date of NPA classification by respective banks NBFCs Further the balances of borrowingsare subject to confirmation from the respective banks NBFCs The amount of interestexpenses cannot be ascertained

2 The Company has classified its investments in unquoted equity shares of other entities to beFair Valued through Profit amp Loss (FVPTL) However it has not obtained carried out fairvaluation of such unquoted equity shares The Company has measured investments inunquoted equity shares based on Net Asset Value of such equity shares as at 31 March 2019The impact of fair valuation cannot be ascertained

3 The Company has not used expected credit loss model to assess the impairment loss or gain ontrade receivables as required by Ind AS 109 Financial Instruments The impact of such non-compliance cannot be ascertained

4 The Company has taken various loans from banks NBFCs in the previous years and has paidone-time processing charges on such loans As per Ind AS 109 processing charges paid tobanks NBFCs against the loans are charged over the tenure of the borrowings using theEffective Interest Rate (EIR) However the Company has recognized prepaid asset againstsuch one-time processing charges and is amortizing the same over the tenure of loan onstraight line method

5 The Company has entered into with certain transactions which Amrapali Group of Companiesin past years In Consequent to the which forensic Audit was conducted as per the direction ofthe Honble Supreme Court of India to look into transactions between Amrapali group ofcompanies and Sureka group of companies After which the Honble Supreme Court vide itsOrder No Writ Petition(s) (Civil) No(s) 9402017 dated 02122019 has directed Ms JotindraSteel amp Tubes Ltd amp Mauria Udyog Ltd including associated companies and Directors viz MrNavneet Kumar Sureka and Mr Akhil Kumar Sureka to deposit Rs 167 Crores In response tothe order of the Honble Supreme Court it has filed an application on 09122019 before theHonble Supreme Court to accept the Title -deeds of immovable properties belonging to Surekafamily members and associate companies (based on latest valuation report) worth amountingto Rs20831 Crores and after reducing the incumbency amount of Rs 3934 Crores balancevalue of properties work out to Rs 16897 crores which includes Property valuing Rs 10182Crores in the name of Mauria Udyog Limited

Now The Actual Liability of the Company ie Mauria Udyog Limited individually is notascertainable but the management has charged Rs 15 Crores through Statement of Profit andloss under the head Exceptional Items as ProvisionLiability against the above matter on anestimate basis and reduced the cost of investment in property (property which is deposited toHonble Supreme Court) by Rs 15 Crores This amount estimated by the management mayincrease or decrease as the company along with its associated companies and Directors hasfiled review petition before the Horible Supreme Court for the same

Provision for contingency and actualascertainable

as the amount is not

Cont P3

11311

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section143(10) of the Companies Act 2013 (Act) Our responsibilities under those Standards are furtherdescribed in the Auditors Responsibilities for the Audit of the Financial Results section of our reportWe are independent of the Company in accordance with the Code of Ethics issued by the Institute ofChartered Accountants of India (ICAI) together with the ethical requirements that are relevant toour audit of the Statement under the provisions of the Act and the Rules thereunder and we havefulfilled our other ethical responsibilities in accordance with these requirements and the Code ofEthics We believe that the audit evidence we have obtained is sufficient and appropriate to provide abasis for our qualified opinion

Emphasis of Matter

We draw attention to the following matters in the notes to the accompanying Statement

1 Note 8 to the Statement which explains the Managements evaluation of the financial impacton the Company due to lockdown and other restrictions imposed on account of COVID-19pandemic situation The assessment of the impact in the subsequent period is highly subjectiveand is dependent upon circumstances as they evolve

Our opinion is not modified in respect of these matters

Board of Directors Responsibility for the Standalone Financial ResultsThis Statement has been prepared on the basis of the quarterly financial statements The CompanysBoard of Directors are responsible for the preparation and presentation of this Statement that give atrue and fair view of the net loss and other comprehensive income and other financial information ofthe Company in accordance with the recognition and measurement principles laid down in the IndianAccounting Standards prescribed under Section 133 of the Act read with relevant rules issuedthereunder and other accounting principles generally accepted in India and in compliance withRegulation 33 of the Listing Regulations This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding of the assets of theCompany and for preventing and detecting frauds and other irregularities selection and applicationof appropriate accounting policies making judgments and estimates that are reasonable andprudent and design implementation and maintenance of adequate internal financial controls thatwere 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 isfree from material misstatementwhether due to fraud or error

In preparing the Statement the Board of Directors are responsible for assessing the Companysability to continue as a going concern disclosing as applicable matters related to going concern andusing the going concern basis of accounting unless the Board of Directors either intends to liquidatethe Company or to cease operations or has no realistic alternative but to do so

The Board of Directors are also responsible for overseeing the Companys financial reportingprocess

Auditors Responsibilities for the Audit of the Standalone Financial ResultsOur objectives are to obtain reasonable assurance about whether the Statement as a whole are freefrom material misstatement whether due to fraud or error and to issue an auditors report thatincludes our opinion Reasonable assurance is a high level of assurance but is not a guarantee that anaudit conducted in accordance with SAs will always detect a material misstatement when it existsMisstatements can arise from fraud or error and are ered material if individually or in the aggregate they could reasonably be expected to in smiddotmiddotconomic decisions of users taken onthe basis of this Statementmiddot ~ 1 bull Cont P14

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11411

As part of an audit in accordance with SAs we exercise professional judgment and maintainprofessional skepticism throughout the audit We also

bull Identify and assess the risks of material misstatement of the Statement whether due to fraud orerror design and perform audit procedures responsive to those risks and obtain audit evidencethat is sufficient and appropriate to provide a basis for our opinion The risk of not detecting amaterial misstatement resulting from fraud is higher than for one resulting from error as fraudmay involve collusion forgery intentional omissions misrepresentations or the override ofinternal control

bull Obtain an understanding of internal control relevant to the audit in order to design auditprocedures that are appropriate in the circumstances Under Section 143(3)(i) of the Act we arealso responsible for expressing our opinion on whether the Company has adequate internalfinancial controls with reference to financial statements in place and the operating effectivenessof such controls

bull Evaluate the appropriateness of accounting policies used and the reasonableness of accountingestimates and related disclosures made by the Board of Directors

bull Conclude on the appropriateness of the Board of Directors use of the going concern basis ofaccounting and based on the audit evidence obtained whether a material uncertainty existsrelated to events or conditions that may cast significant doubt on the Companys ability tocontinue as a going concern Ifwe conclude that a material uncertainty exists we are required todraw attention in our auditors report to the related disclosures in the Statement or if suchdisclosures are inadequate to modify our opinion Our conclusions are based on the auditevidence obtained up to the date of our auditors report However future events or conditionsmay cause the Company to cease to continue as a going concern

bull Evaluate the overall presentation structure and content of the Statement including thedisclosures and whether the Statement represent the underlying transactions and events in amanner that achieves fair presentation

We communicate with those charged with governance regarding among other matters the plannedscope and timing of the audit and significant audit findings including any significant deficiencies ininternal control that we identify during our auditWe also provide those charged with governance with a statement that we have complied withrelevant ethical requirements regarding independence and to communicate with them allrelationships and other matters that may reasonably be thought to bear on our independence andwhere applicable related safeguards

Other Matter

Due to COVID-19 related lockdown restrictions imposed by the government management was ableto perform physical verification of cash and inventory at the year end andor subsequent to year end However we were unable to physically observe the verification of cash and inventory that wascarried out by the management Consequently we have performed alternate audit procedures andrelied upon internal controls to obtain comfort over the existence and condition of cash andinventory at year end as per the guidance provided in SA 501 Audit Evidence - SpecificConsiderations for Selected Items and have obtained sufficient appropriate audit evidence to issueour unmodified opinion on this Statement

Our opinion is not modified in respect of this matter

Cont Psmiddot

II 5 II

The Statement includes the results for the quarter ended March 31 2020 being the balancing figurebetween audited figures in respect of full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us

Place New DelhiDate 4th September 2020UDIN-20304011AAAADF5568

For LK BOHANIA amp COChartered Accountants

Firm Registration NO317136E

~

[Vikash Mohata)Partner

Membership No - 304011

Enclosed QuarterlyAnnual Financial Results (Statement of Affairs Segment Reporting amp Cash Flow Statements)

MAURIA UDYOG LIMITED(AN ISO 14001 amp OHSAS 18001 CERTIFIED COMPANY)

Works Sohna Road Sector-25 Faridabad-121004 (Haryana) INDIAPh +91-129-4092000 Fax +91-129-2231220 Visit us wwwmauriacom

eIN L51909WB1980PLC033010 e-mail Id-mauriamauriacom

Annexure-4

To Dated September 04 2020

BSE LimitedThe Department of Corporate ServicesPJ Towers Dalal StreetMumbai- 400001Scrip Code 539219

Dear Sir

SubDeclaration of unmodified opinion with regard to Annual Financial Results for FinancialYear ending March 31 2020

It is hereby declared that hereby declare that LK Bohania amp Co Chartered Accountants (FRN 317136E ) have issued an Audit report with Unmodified opinion on Audited Financial Results of theCompany for the Financial Year ended on 31March 2020

This Declaration is given pursuant to Regulation 33(3)(d) of the SEBJ (Listing Obligations andDisclosure Requirements) Regulations 2015 as amended and SEBI Circular NoCIRlCFDCMD562016dated May 27 2016

Thanking you

Yours faithfully

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