ASALAutomotive Stampings and Assemblies Limited

CIN: L28932PN1990PLC016314

SE/ 2020-21

January 28, 2021

The Executive Director,BSE LimitedCorporate Relationship Department, 1 st

Floor, New Trading Ring, Rotunda BldgP.J. Towers, Dalal Street, Mumbai 400 001scrip Code: 520119

Dear Sir / Madam,

The Executive Director,National Stock Exchange of India Ltd.Exchange Plaza,Bandra (East),Mumbai 400 051

Scrip Code: ASAL

Sub: Outcome of the Board Meeting held on January 28, 2021

Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosurerequirements) Regulations, 2015 (Listing Regulations), we hereby inform you that, the Boardof Directors of the Company at its meeting held today i.e. on January 28, 2021 inter-alia hasapproved and taken on record

The "UNAUDITED FINANCIAL RESULTS" of the Company for the quarter endedDecember 31, 2020 along with "LIMITED REVIEW REPORT" of the StatutoryAuditors of the Company on the financial results / financial statements of theCompany for the quarter ended December 31 , 2020 (Enclosed herewith).

To shift / transfer, manufacturing operations of Chakan Plant Il (hereinafter referredto as "Chakan Il") of the Company situated at leased premises located at "Survey No.679/2/2 Alandi Road, Kuruli, Chakan, Taluka - Khed, District- Pune: 410501,Maharashtra, India" to Chakan Plant I (hereinafter referred to as ("Chakan l") of theCompany situated at Gat No. 427, Medankarwadi, Chakan, Taluka: Khed, District-Pune: 410501. The operations of plant "Chakan Il" will merged with plant "Chakan-l"by March 31, 2021.

The Board Meeting of the Company commenced at 12:23 p.m. (IST) and concluded at 04:00p.m. (IST).

Thanking You,

For Autom e mpings and Assemblies Lim

asad ZinjurdeCompany Secretary and ComplianceM.No. A54800

Website: m.autostampings.comRegd Office TACO House. Plot No- 201B FPN085, V G Damie Path. Off caw College Road, Erandwane, Pune 411004

Chakan Gat No 427. Medar-,karwadi. Chakan, Tal Khed. Dist Pune -410 501 Tel 91 2135 679801-05Haloi Survey NO 173. Village Khakhana. Taluka Savali. Dist Vadodara, Halol — 389 350. Gujarat Telefax 91 2667 288042

Uttarakhand Plot No 71. Sector 11, Integrated Industnal Estate, Pantnagar, US Nagar 263153 State- Uttarakhand Tel 91 9219415663

A TATA Enterpnse

B SR & co. LLPChartered Accountants

dth floor, Business Plaza,Westin Hotel Campus,36/3-B. Koregaon Park Annex.Mundhwa Road, Ghorpadi,Pune -411001, India

Telephone. 20 6747 7300Fax +91 20 6747 7310

Limited review report on unaudited quarterly financial results and year-to-date results ofAutomotive Stampings and Assemblies Limited pursuant to Regulation 33 or SEBI (ListingObligation and Disclosure Requirements) Regulations, 2015

To

Board of Directors ofAutomotive Stampings and Assemblies Limited ('the Company")

l. We have reviewed the accompanying Statement of unaudited financial results of AutomotiveStampings and Assemblies Limited for the quarter ended 31 December 2020 and year to dateresults for the period from t April 2020 to 31 December 2020 ("the Statement").

2. This Statement, which is the responsibility of the Company's management and approved by theBoard of Directors, has been prepared in accordance with the recognition and measurement principleslaid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34'"),prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generallyaccepted in India and in compliance with Regulation 33 of the Listing Regulations. Ourresponsibility 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 ReviewEngagements (SRE) 2410 "Review of Interim Financial Information Performed by theIndependent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. Thisstandard requires that we plan and perform the review to obtain moderate assurance as to whetherthe Statement is free of material misstatement. A review is limited primarily to inquiries ofcompany personnel and analytical procedures applied to financial data and thus provides lessasswance than an audit. We have not performed an audit and accordingly, we do not expressan audit opinion.

4. Based on our review conducted as above, nothing has come to ow attention that causes us tobelieve that the accompanying Statement, prepared in accordance with applicable accountingstandards and other recognised accounting practices and policies has not disclosed theinformation required to be disclosed in terms of Regulation 33 of the SEBJ (Listing Obligationsand Disclosure Requirements) Regulations, 2015 including the manner in which it is to bedisclosed, or that it contains any material misstatement.

•mil' B S CO"COCOO

B S R & co. LLP

Limited review report on unaudited quarterly financial results and year-to-date results orAutomotive Stampings and Assemblies Limited pursuant to Regulation 33 of SEB' (ListingObligation and Disclosure Requirements) Regulations, 2015 (continued)

5. We draw your attention to note 5 in the unaudited nine months financial results, which statesthat the Company has incurred a net loss of INR 2,961 67 lakhs during the nine months ended31 December 2020. Further, as of the date. the Company's liabilities exceed its total assets byINR 8,845.00 lakhs i.e. the net worth of the company as at 31 December 2020 is negative.These financial results have also been negatively impacted due to the outbreak of COVID-19.Iherefore, these events or conditions indicate that a material uncertainty exists that may castsignificant doubt on the Company's ability to continue as a going concem. However. theManagement has prepared the unaudited nine months financial results on a going concern basissince they have a reasonable expectation that the company would be able to meet its liabilitieson the basis of letter of financial support provided by the Holding Company, access toalternative sources of funding by the Group entities and implementation of various measures toimprove operational efficiency and optimize margins.

Our conclusion is not modified in respect of this matter.

For B S R & co. LLP

Chartered AccountantsFirm's Registration No. 101248W/W-100022

Place: PuneDate: 28 January 2021

Abhishek

Membership No. 062343

UDIN: 685

AUTOMOTIVE STAMPINGS AND ASSEMBLIES LIMITEDgistered Offee :TACO Ilousc. Plot No- 201B I•PN085. V .0, Damle Path. Off Law College Road. Erandwanc. Pune: 4 j 1004

Email: cs@autostarnpings.corn I ('IN: 128932PN 1990PLC016J 14STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2020

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31 2020

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0.96

8,359.05

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6,071.69

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758.87

450.97

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8545.523320

6577.29(17.46)

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29799

297.99

16.03

16.03

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(Unau&ted)

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