Extract of unaudited financial results for the quarter ended 30 June 2022
(Rs in Lakhs) | ||||
Particulars | Quarter ended | Year ended | ||
30-Jun-2231-Mar-2230-Jun-21 | 31-Mar-22 | |||
Unaudited | Audited | Unaudited | Audited | |
Total income | 38,206 | 50,262 | 45,996 | 194,761 |
Net Profit for the period (before tax, Exceptional and/or Extraordinary item) | (1,177) | 2,895 | 6,839 | 21,857 |
Net Profit for the period before tax (after Exceptional and/or Extraordinary item) | (1,177) | 2,895 | 6,839 | 21,857 |
Net Profit for the period after tax (after Exceptional and/or Extraordinary item) | (886) | 2,071 | 5,054 | 16,051 |
Total Comprehensive Income for the period [Comprising profit for the period (after tax) | (856) | 2,297 | 5,018 | 16,171 |
and Other Comprehensive income (after tax)] | ||||
Equity share capital | 2,466 | 2,466 | 2,466 | 2,466 |
Other equity | 104,332 | |||
Earnings Per Share (Face Value of Rs 2/- each) (for continuing and discontinued | ||||
operations) | ||||
- Basic | (0.72) | 1.68 | 4.10 | 13.02 |
- Diluted | (0.72) | 1.68 | 4.10 | 13.02 |
Note :
1 In respect of the standalone results of the Company, the amounts are as follows
Standalone | ||||
Particulars | Quarter ended | Year ended | ||
30-Jun-2231-Mar-2230-Jun-21 | 31-Mar-22 | |||
Unaudited | Audited | Unaudited | Audited | |
Total income | 38,206 | 50,262 | 45,996 | 194,761 |
Net Profit for the period (before tax, Exceptional and/or Extraordinary item) | (1,185) | 2,900 | 6,835 | 21,857 |
Net Profit for the period before tax (after Exceptional and/or Extraordinary item) | (1,185) | 2,900 | 6,835 | 21,857 |
Net Profit for the period after tax (after Exceptional and/or Extraordinary item) | (894) | 2,076 | 5,050 | 16,051 |
Earnings Per Share (Face Value of Rs 2/- each) (for continuing and discontinued | ||||
operations) | ||||
- Basic | (0.73) | 1.68 | 4.10 | 13.02 |
- Diluted | (0.73) | 1.68 | 4.10 | 13.02 |
- The above is an extract of the detailed format of quarterly financial results filed with the stock exchanges under regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the financial results are available on the stock exchange websites (www.bseindia.com and www.nseindia.com) and on Company's website (www.hikal.com).
- The figures for the previous periods have been regrouped wherever necessary to conform to the current period presentation.
For HIKAL LTD
JAI VISHWANAT H HIREMATH
Digitally signed by
JAI VISHWANATH HIREMATH Date: 2022.08.10 15:42:07 +05'30'
Place : | Mumbai | Jai Hiremath |
Date | : 10 August 2022 | Executive Chairman |
DIN: 00062203 | ||
HIKAL LTD | ||
Regd. Office : 717/718, Maker Chamber V, Nariman Point, Mumbai - 400 021. | ||
Phone : +91-22-30973100 , Fax : +91-22-30973281 | ||
CIN : L24200MH1988PTC048028, E Mail : info@hikal.com , Website : www.hikal.com | ||
Just the right chemistry | ||
12th Floor, The Ruby | |
29 Senapati Bapat Marg | |
Chartered Accountants | Dadar (West) |
Mumbai - 400 028, India | |
Tel: +91 22 6819 8000 |
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
Review Report to
The Board of Directors
Hikal Limited
- We have reviewed the accompanying statement of unaudited standalone financial results of Hikal Limited (the "Company") for the quarter ended June 30, 2022 (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, as amended (the "Listing Regulations").
- 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 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (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 of interim financial information consists of making inquiries, 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.
- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') 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 Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
- We draw attention to note 4 to the Statement, as regards the ongoing investigations by statutory authorities in relation to alleged non-compliance with certain environmental laws and regulations, the outcome of which is subject to inherent uncertainties. Our conclusion is not modified in respect of this matter.
For S R B C & CO LLP
Chartered Accountants
ICAI Firm registration number: 324982E/E300003
VINAYAK SHRIRAM PUJARE
Digitally signed by VINAYAK SHRIRAM PUJARE
DN: cn=VINAYAK SHRIRAM PUJARE, c=IN, o=Personal, email=vinayak.pujare@srb.in Date: 2022.08.10 15:59:05 +05'30'
per Vinayak Pujare Partner
Membership No.: 101143
UDIN: 22101143AOSOVX6209
Place: Gurgaon
Date: August 10, 2022
S R B C & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318
Regd. Office : 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016
Statement of unaudited standalone financial results
for the quarter ended 30 June 2022
Rs. In Lakhs (Except for per share data) | ||||
Standalone | ||||
Quarter ended | Year ended | |||
Particulars | 30-Jun-22 | 31-Mar-22 | 30-Jun-21 | 31-Mar-22 |
Unaudited | Audited | Unaudited | Audited | |
(Refer note 3) | ||||
Income | ||||
Revenue from operations | ||||
Sale of products and services | 37,132 | 50,095 | 45,450 | 192,603 |
Other operating revenue | 747 | 140 | 228 | 1,669 |
Total revenue from operations | 37,879 | 50,235 | 45,678 | 194,272 |
Other income | 327 | 27 | 318 | 489 |
Total income | 38,206 | 50,262 | 45,996 | 194,761 |
Expenses | ||||
Cost of materials consumed | 23,778 | 27,345 | 23,074 | 103,221 |
Changes in inventories of finished goods and work-in-progress | (1,140) | 412 | (583) | (3,582) |
Employee benefits expense | 4,275 | 5,315 | 4,758 | 20,135 |
Finance costs | 1,129 | 808 | 799 | 3,121 |
Depreciation and amortisation expenses | 2,650 | 2,423 | 2,256 | 9,567 |
Other expenses | 8,699 | 11,059 | 8,857 | 40,442 |
Total expenses | 39,391 | 47,362 | 39,161 | 172,904 |
Profit before tax | (1,185) | 2,900 | 6,835 | 21,857 |
Tax expense: | ||||
-Current tax | - | 780 | 1,889 | 5,965 |
-Deferred tax | (291) | 44 | (104) | (159) |
Total tax expense | (291) | 824 | 1,785 | 5,806 |
Profit for the period | (894) | 2,076 | 5,050 | 16,051 |
Other comprehensive income (OCI) | ||||
Items that will not be reclassified to statement of profit and loss | 40 | 305 | (48) | 162 |
(10) | (79) | 12 | (42) | |
Income tax relating to item that will not be reclassified to statement of profit and loss | ||||
Total comprehensive income | (864) | 2,302 | 5,014 | 16,171 |
Paid-up equity share capital (Face value of Rs 2/- each) | 2,466 | 2,466 | 2,466 | 2,466 |
Other equity | 104,335 | |||
Earnings per share (Face Value of Rs 2/- each) | ||||
- Basic | (0.73) | 1.68 | 4.10 | 13.02 |
- Diluted | (0.73) | 1.68 | 4.10 | 13.02 |
Notes :
- The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 10 August 2022.
- The standalone financial results for the quarter ended on 30 June 2022 have been subjected to a 'Limited Review' by the statutory auditors of the Company. The statutory auditors have expressed an unmodified review conclusion. The limited review report will be filed with the stock exchanges and will also be available on the Company's website, www.hikal.com.
- The figures for the quarter ended 31 March 2022 as reported in these financial results are the balancing figures between audited figures in respect of the full financial year upto 31 March 2022 and the unaudited published year-to-date figures up to 31 December 2021, being the date of the end of the third quarter of the financial year which were subjected to limited review.
- In connection with the alleged improper disposal of by-products by the Company in January 2022, statutory authorities are conducting investigations in relation to non-compliance with certain environmental lawsand regulations, which are ongoing.
During the quarter, Maharashtra Pollution Control Board (MPCB) had directed the Company to stop manufacturing activities at its Taloja plant on grounds of not adhering to conditions stipulated in the relevantConsent to Operate. But subsequently, pursuant to an order of Honourable Bombay High Court, MPCB granted permission on 29 June 2022 to re-start manufacturing activities at the plant .
Separately, the National Green Tribunal ('NGT') had constituted a Committee to make recommendations in this regard. The Committee submitted its recommendations to the NGT, and inter alia, the Committee recommendsrecovery of compensation from the Company and alleges instances of non- compliance with environmental laws and regulations. These recommendations are yet to be adjudicated and accepted judicially by the NGT. Based on the advice of external legal counsel, theCompany believes it has a good case on merits in these matters, and the Company is taking necessary steps, including legal measures, to defend itself. - The figures for the previous periods have been regrouped wherever necessary to conform to the current period presentation.
For HIKAL LTD
JAI VISHWANAT H HIREMATH
Digitally signed by
JAI VISHWANATH HIREMATH Date: 2022.08.10 15:40:29 +05'30'
Place | : | Mumbai | Jai Hiremath |
Date | : | 10 August 2022 | Executive Chairman |
DIN: 00062203 | |||
HIKAL LTD | |||
Regd. Office : 717/718, Maker Chamber V, Nariman Point, Mumbai - 400 021. | |||
Phone : +91-22-30973100 , Fax : +91-22-30973281 | |||
CIN : L24200MH1988PTC048028, E Mail : info@hikal.com , Website : www.hikal.com | |||
Just the right chemistry | |||
Standalone segment wise revenue, results, assets and liabilities
for the quarter ended 30 June 2022
Standalone | ||||
Quarter ended | Year ended | |||
Particulars | 30-Jun-22 | 31-Mar-22 | 30-Jun-21 | 31-Mar-22 |
Unaudited | Audited | Unaudited | Audited | |
(Refer note 3) | ||||
1. Segment revenue | ||||
a) Pharmaceuticals | 22,429 | 30,794 | 27,407 | 112,974 |
b) Crop protection | 15,450 | 19,441 | 18,271 | 81,298 |
Total | 37,879 | 50,235 | 45,678 | 194,272 |
Less: Inter segment revenue | - | - | - | - |
Revenue from operations | 37,879 | 50,235 | 45,678 | 194,272 |
2. Segment results | ||||
a) Pharmaceuticals | (819) | 2,971 | 4,811 | 15,102 |
b) Crop protection | 1,027 | 1,162 | 3,184 | 11,514 |
Total | 208 | 4,133 | 7,995 | 26,616 |
Less : | ||||
i) Finance cost | 1,129 | 808 | 799 | 3,121 |
ii) Other un-allocable expenditure | 326 | 453 | 432 | 1,814 |
Add: | ||||
i) Other un-allocable income | 62 | 28 | 71 | 176 |
Profit before tax | (1,185) | 2,900 | 6,835 | 21,857 |
3. Segment assets | ||||
a) Pharmaceuticals | 114,546 | 118,937 | 116,353 | 118,937 |
b) Crop protection | 84,599 | 85,456 | 65,549 | 85,456 |
c) Unallocable | 20,014 | 16,920 | 12,708 | 16,920 |
Total assets | 219,159 | 221,313 | 194,610 | 221,313 |
4. Segment liabilities | ||||
a) Pharmaceuticals | 19,145 | 17,529 | 16,327 | 17,529 |
b) Crop protection | 19,644 | 19,934 | 13,233 | 19,934 |
c) Unallocable | 74,433 | 77,049 | 66,694 | 77,049 |
Total liabilities | 113,222 | 114,512 | 96,254 | 114,512 |
For HIKAL LTD
JAI | Digitally signed |
VISHWANA | by JAI |
VISHWANATH | |
TH | HIREMATH |
HIREMATH | Date: 2022.08.10 |
15:50:59 +05'30' |
Jai Hiremath | ||
Place | : Mumbai | Executive Chairman |
Date | : 10 August 2022 | DIN: 00062203 |
HIKAL LTD
Regd. Office : 717/718, Maker Chamber V, Nariman Point, Mumbai - 400 021.
Phone : +91-22-30973100 , Fax : +91-22-30973281
CIN : L24200MH1988PTC048028, E Mail : info@hikal.com , Website : www.hikal.com
Just the right chemistry
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Hikal Limited published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 12:20:39 UTC.