C HINDUSTAN

OMPOSITES LIMITED

HINDUSTAN COMPOSITES LTD. Peninsula Business Park, Tower "A", 8th Floor,

Senapati Bapat Marg,Lower Parel, Mumbai-400 013.

Tel.: 022-6688 0100 •Fax: {91) (22) 6688 0105 E-mail : hcl@hindcompo.com

Website : www.hindcompo.comCIN No. L29120MH1964PLC012955

8th May, 2018 To The Manager-DCS BSE Limited

The Manager - Listing National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, 'G' Block Bandra Kurla Complex,

Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 Scrip Code: 509635 Bandra (East), Mumbai - 400 051

SYMBOL: HINDCOMPOS

Dear Sir,

Sub: Outcome of Board Meeting held on 8th May, 2018

Pursuant to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to in.form you that the Board of Directors of the Company at its meeting held today i.e. 8th May, 2018, inter alia, considered the following matters:

1. Approved the Standalone Audited Financial Results of the Company for the quarter and yearended 31st March, 2018;

2. Approved the Consolidated Audited Financial Results of the Company for the year ended 31stMarch, 2018;

3. Recommended the payment of dividend on Equity Shares of Rs. 5/- each@ Rs. 0.50/- (Fifty paiseonly) per share for the year ended 3l5t March, 2018, subject to approval of the shareholders in theensuing Annual General Meeting of the Company. The dividend if approved at the ensuingAnnual General Meeting of the Company, shall be paid/ dispatched between 5th to 12th

September, 2018;

4. Taken on record the resignation of Mr. Amit Goenka resigning from the post of CompanySecretary and Compliance Officer of the Company w.e.f closing hours of 7th May, 2018, howeverhe continues to be in the services of the Company as Vice President - Finance;

..

5. Appointed Mr. Vikram Soni (ACS 36705) as Company Secretary and Compliance Officer of theCompany w.e.f. 8th May, 2018, pursuant to the provisions of Section 203 of the Companies Act,2013 read· with Companies (Appointment and Remuneration of Managerial Personnel) Rules,2014 and Regulation 6 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015;

Mr. Vikram Soni is an Associate Member of the Institute of Company Secretaries of India havingmore than 5 years of experience in secretarial and legal matters. He has done his graduation fromAmrutben Jivanlal College of Commerce and Economics, Mumbai (Mithibai College). He hasdone his post-graduation with majors in Accountancy from Mumbai University;

6. Recommended the re-appointment of Mr. A.B. Vaidya as an Independent Director of theCompany for a second term of five years from 1st April, 2019 to 31st March, 2024, subject toapproval of shareholders in the ensuing Ammal General Meeting by passing a Special R olutionas per Section 149(10) read with Schedule IV of the Companies Act, 2013. C0,1,f,.o

��, - '\OJ> Regional Sales Offices \ '::4 East : 29, Ganesh Chandr a Avenue, Bando House, Room No. 207, 2nd Floor, Kolkata - 700 013 • Tel. : 91-33-2236078 • Fax : 91-33-2236078 J �

West": B-11, Paragon Condominium, 1st floor, P. B. Marg, Worti, Mumbai - 400 013 • Tel. : 91-22-2495 1355 • fax : 91-22 2495 1365 / "-

North: 401, RoM House, 3-Tolstoy Marg, New Delhi - 110 001 •Tel.: 91-11-2331 3845 • Fax: 91-11-23313846 • ()3:,�South: New No.931, Old No. 478, Ramaniyam Ciladel Apartment, 2nd F!oor, Poonamallee High Road, Arumbakkam, Chennai - 600 106 •Tel.: 91-44-2363 372�-�

COMPOSITES

Mr. A B. Vaidya possesses more than 50 years of rich experience in Banking, Insurance & Realty Sector. In the opinion of the Board Mr. A B. Vaidya fulfills the conditions specified in the Act for an independent Director and he is independent of the management. He is not related with any other directors of the Company.

7. Recommended the re-appointment of Mr. Lt. Gen. (Retd.) K. S. Brar as an Independent Director ofthe Company for a second term of five years from 1st April, 2019 to 31st March, 2024, subject toapproval of shareholders in the ensuing Annual General Meeting by passing a Special Resolutionas per Section 149(10) read with Schedule IV of the Companies Act, 2013.

Lt. Gen. (Retd.) K. S. Brar has a rich and varied management experience. In the opinion of theBoard Lt. Gen. (Retd.) K. S. Brar fulfills the conditions specified in the Act for an independentDirector and he is independent of the management. He is not related with any other directors ofthe Company.

A copy of the Standalone Audited Financials Results for quarter and year ended 31st March, 2018 and Consolidated Audited Financial Results for the year ended 31st March, 2018 along with the statement of Assets and Liabilities as on that date, Auditors Reports on said both results and declaration pw-suant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, are enclosed herewith for yow- records.

The meeting of the Board of Directors commenced at 1:30 p.m. and concluded at 4:00 p.m.

Kindly take the above on your record.

Thanking you,

Yow-s faithfully,

.K.Choud�y Managing Director

Encl.: As stated above

BAGARIA & CO rrpChartered Accountants

701. Slonford,Junclion ol S. V Rood,& Borfiwolo Morg, Andheri (WJ

Mumboi 400058, INDIA

To

Board of Directors of Hindustan Cnmnnsitps limitFd

We have audited the quarterly standalone financial results of Hindustan Composites Limited ("the Company") forthe quarter and year ended 31't March, 2018, attached herewith, being submitted by the Company pursuant tothe requirement of Regulation 33 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015.

These standalone quarterly financial results as well as the year to date financial results have been prepared on thebasis of the standalone Ind AS financial statements, which are the responsibility of the Company's management.Our responsibility is to express an opinion on these financial results based on our audit of such standalone financialstatements, which have been prepared in accordance with the recognition and measurement principles laid downin Accounting Standard prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issuedthereunder; or by the Institute of Chartered Accountants of India, as applicable and other accounting principlesgenerally accepted in Ind ia.

We conducted our audit in accordance with the auditing standards generally accepted in India. Those standardsrequire that we plan and perform the audit to obtain reasonable assuTance about whether the financial results arefree of material misstatement. An audit includes examining, on a test basis, evidence supporting the amountsdisclosed in financial results. An audit also includes assessing the accounting principles used and significantestimates made by management. We believe that our audit provides a reasonable basis for our opin ion.

In our opinion and to the best of our information and according to the explanations given to us these quarterly

financial results as well as the year to date standalone financial results:

(i) are presented in accordance with the requirements of Regulation 33 of the SEBI {Listing Obligations and

Disclosure Requirements) Regulations,2015 in this regard; and

(ii) give a true and fair view of the net profit and other financial information for the quarter and year ended 31March,2018.

Other Matters:

{a) The Statement includes the results for the Quarter ended 31st March, 2018 and corresponding quarter endedof the previous year being the balancing figure between audited figures in respect of fuli financial year and thepublished year to date figures up to thethird quarter of the current and previous financial year which were subjectto limited review by us.

(b) Opening balances have been considered based on the audited financial statements issued by the other auditorswhose un-qualified audit report dated 23rd May, 2017 have been furnished to us.

Our reoort is not modified in resDect of this matter.

For Bagaria and Co. LLP

Chartered AccountantsFirm Registration No.

1.r3447W /W -1.00019

Place: MumbaiDate: 8th May, 2018

+91 (22) 62505600bogorioao.com

Gomposites Limited Pursuant to the Requlation 33 of the SEBI (Listinq Oblisations and

6pus:/' 'r'ff{ uu,ttu' \ro

Q'>.,'dl\4em bership No. 036732

HINDUSTAN COMPOSITES LIMITEDRegd.Office: A Tower,Sth floor, Peninsula Susloess Park,

Senapati Bapat I'larg,Lower Parel. Itlumbai - 400013*.'

;:i-i:::1'"?,:;l:rJ::'f ''ctN No. L29120rill1964PLC012955

statement of Audited Standalone Financial Results for the quarter and year ended 31st March' 2018

5r,

In Laca, ercepl pershare d.t

3l-.r-la 3l-$ar-i7Ended

3l-Mar-i7

2

3

56

rNco E

a) Revenue from oporations

a) cost of Baterials consumedb) Changes in Inventodes of finished goods and $orkjn-PDgGss

d) Employe€ benefls exPenss

D Depredalion and amonjzalion exPense

Td povision of earligr y€ars

PDft ror the P.dod {54)Oth€r Conpr.h€mlve lncom. (Ocl,

a) ll6ms that will nol bs r€classitigd lo proft or rrcss

b) hcome tax r€laling to ir6ms that will not b€ roclassi'i€d to Prolil o. loss

c) ltems lhal will be €classilied lo profn o. bssd) lrcomo tax r€laling to itsms thar will be €classilied to proft or loss

Other Comprehondve IncomeTot l comprcheNlve Incom€ afrer Tax (5+6)

P.id{p Equit sha€ capital(Fa6 vallo of Rs.5 pershsr€)Eamings ps shale (8asis and oiluied) (Rs.)

5,73510

4,41f10

1,47t 20,336 18,162111

5.745 5,127 20, 't8.273

2,263

6224

1 484

2,@164

684T

217

1,TO2

122)424572

6200

7,934(s2)418

2,42331

864

5,952

{9311,5452,419

20771

'\f.552379 2.429 3.200

2 368 46227 249

t7i798 2.538 2.489

\292)723

l27e)227

1,924(7101

{4081

2,U5(989)(45,41

159

2,424(58)

(395)267

3,881(1.279)1,210

950 2,2421.744 4.744 5.885

7346.88 5.44

T3A17.14

4921685

Reportlng ofSegment urlse Rcv€nu.,Result .nd capltal Employ€d as on 31st l4arch, 2o1a

Sr.

l1-Mar-18 3l-D€c-17Endod

3l- .r-17 3l-Mar-i8Ended

2

3

a,1551 340

4,0151 402

3,844 16,014 't4,M3

5.735 5.4t7 4,973 20,336 14,152

lPrcfil(+) / Loss C) b€roG Tax

1701.064

226 813 8733.321

Sub 1.O42 4.

Lessr Umllocaue Exp€nses 3076

10 106

1,381

3145

1,04520

111

951 879 3.

9,40470,727

918670,7323 164

s,28366,634

3 21170,727

4,24366,534

83.301 85,086 78. 83.301 78,128

b) S.gmsnt Urbllltle34,4943,517

4,1|a94,5001 259

4,0601213 1.078

4,060

10.244 6.5ztg 9.089

lcsnrPolHINDUSTAN COMPOSITES LIMITED

Regd.oftice: A Tower,8th Flooi, Penlnsul. Busltr€s3 Parl9Senapatl Bapat l,targ,Low.r Par€|, r'lumbal _ /IOOO13

Tel : 022-66880100, Fax:022-66840105vlsit us at www.hindcomPo.com

CIN No, L29120MH1964P1C012955

standalone Statement of Ass€ts and Liabilities as at 31st

1 Ths abov€ r€sults i€l6 €vi€w€d by lh€ Audit Commirtee and appo!€d by th€ Boerd ot Dir€ctors in lh8ir m36ting h€ld on 8lh Msy 2018. Th€ Board of di.eclors ot lhscompany h€s r€commondsd the paym€nt ot dividond on €qudy sharcs ol Rs.5/- sach @ Rs. 0.rr0 per sharc for th€ yeff snded 31st Mar6,2018.

posr u|6 appticabitity of coods aftt Serui@ rd (GST) *ith slrecr rrcm 1 Jut 2017, rEvenue lDm op€ralions €rs disclossd n6l or GST, whereas Excise duty romed pan or olhar

exp€n!€s in pEvious pedodv year Accordingly, lho rcvenuo fron operalions and olher exp€ns€s tor tho quarter and ysar €nd€d 31 Marcfi 2018 are nol @mparablg with lhepFvious quan€rr.ar p€sonted in th6 6suns.

'ne samjngs p€r sha€ in .ssp6d ot aI the prsviols €poded pedods hav€ b€€n rsstal€d ai€r @nsidedng th€ sub{ivision snd bonus sha.€ iss!€ mad6 dldnq the t.st quarler ot

a) Th€ tigures tor th€ qua,t€r €nd€d 31st Mar.tr 2018 aro th€ balancing liguE bet$€en the audited ligur€s in rssp€cl ot ths tull linanclal y€a. and plblishedumudited year lo dale igures upto lho third quarler of the linancial year.

b) Provious p€.iods' figl]rss navs b€en rcaEnged / regrcuped wherever considersd n€c€ssary lo confm to lhe P€senlalion of th€ orn€nt *"*\ |

CAr-\^qDat d : 08th lley ?o18

(a) PrQ€dy, Plani and Equipment(b) Capital rcrkin o9€$(c) Other htangibls assots

(iD othe. rinanclal Assets(e) O||$ Non CUF€nl Assels

(iD Trads r€csivables(iii) Cash and @sh oqlivalents(iv) Eank balancas oth€r lhan (iii) above

(vi) Olher lSnanoal ass€ls(c) Olhd @renl assots

(a) Equit Sha€ Capital(b) Oths Equity

(iii) Olher finandal liabilili6(b) orh6 @n€nt risbrrilies

(d) Cucnl tax liabilities (Nel)

6-d'-qYA=-l 'i.-.nt, l-<

w,;;g

BAGARIA & CO tp 701, Stonford,Junclion ol5. V Rood,& Borfiwolo Morg, Andheri (W)Mumboi 400058, INDIAChartered Accountants

Auditor's Report On vear to date Consolidated Financial Results of Hindustan CompositesLimited Pursuant to the Requlation 33 of the SEBI (Listinq Obliqations and DisclosureRequirements) Requlations, 2015

ToBoard of Directors of Hindustan Comoosites Limited

We have audited the consolidated financial results of Hindustan Composites Limited (Parent Company) and its jointventure (together referred to as "the Group") for the year ended 31" March, 2018, attached herewith, beingsubmitted by the Parent Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015.

These consolidated year to date financial results have been prepared from consolidated financial statements,which are the responsibility of the Company's management. Our responsibility is to express an opinion on theseconsolidated financial results based on our audit of such consolidated financial statements, which have beenprepared in accordance with the recognition and measurement principles laid down in Accounting Standard formandated ulder Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder or by theInstitute of Chartered Accountants of lndia, as applicable and other accounting principles generally accepted in

In d ia.

We conducted our audit in accordance with the auditing standards generally accepted in India. Those standardsrequire that we plan and perform the audit to obtain reasonable assurance about whether the financial results are

free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amountsdisclosed in financial results. An audit also includes assessing the accounting principles used and significantestimates made by management. We believe that our audit provides a reasonable basis for our opinion.

We did not audit the financial statements of its Joint venture included in the consolidated year to date results,

whose financial statements reflect total assets of Rs. I,684.47 lacs as at 31't March, 2018 as well as the totalrevenue of Rs. 315.06 lacs for year ended 31" March, 2018. These financial statements and other financialinformation have been audited by other auditors whose reports have been furnished to us and our opinion on theyear to date results, to the extent they have been derived from such financial statements is based solely on thereport of such other auditors.

In our opinion and to the best of our information and according to the explanations given to us these consolidated

year to date results:

(i) include the year to date of compo Advics Private (lndia) Limited (Joint Venture);

(ii) have been presented in accordance with the requirements ot Regulation 33 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations,2015 in this regard; and

(iii) give a true and fair view of the consolidated net profit and other financial information for year ended 31 March,2018.

+91 (22) 62505600bogor;oco.com

Other Matters:Opening balances have been considered based on the audited financial statements issued by the other auditorswhose un-qualified audit report dated 23rd May, 2017 have been furnished to us.

Our report is not modified in respect of this matter.

For Bagaria and Co. LLP

chart€red AccountantsFirm Registration No.

7r3447W /W-tl1org

Place: MumbaiDate: 8th May, 2018 Membershio No. 036732

i

I

I

I

HINDUSTAN COMPOSITES LIMITEDRegd.officei A Tower,Sth Roor, Peninsula Business Park,

Senapati Eapat Marg,Lower Parel, Ivumbai _ 400013Telr 022-56880100, Fax:022-66880105

.ilii'.l',-iiiitl|T.T[3[;H,Statement of Audited Consolidated Financial Results for the quarter and year ended 31st March. 2018

Reporting of Segm€nt wise Revenue,Result and Capital Employed as on 3lst March, 2019

Sr.No.

(Rs. In Lacs, ex@pt per shaE dat

Ended31-liaF18

End6d3l-lll.r-17(Auditedl

1

2

345

78

INCOMEa) Revenue from op€ralionsb) Other Income

Total lncomeExpen3eBa) Cosl of materials consumedb) Changes in Invenlodes ot finished goods and work-in-progressc) Excis€ Dutyd) Employee bener s €xp€ns€e) Finance costsf) Deprac:ialion and amo(izalion expenseg) Olher Expenses

Total Erpsns€3Protrt b€lore tax and share ofjoint y€nture l1-2)Share ol (loss) of joint venture

Tax Expcnsescunent taxDefered laxTax provision of eadier yeaG

Profit for tho P6riod (34)Other Co(npr€henslvo Incomo (OCll

a) ltems that will nol be reclassilied to proft or lossb) Income lax rela[ng to items that will nol be reclassilied to prottt oI lossc) llems that will be reclassilied to pron or bssd) Income tax relating to items that will be reclassified io proft orbss

Olher Comp16hanslv6 IncomeTotal Comprehensiye Incomo after Tax (5+6)Paid-up Equity Share Capital (Face Value of Rs. 5 per shar€)

Eamings perShare {Basis and Dilut8d)(Rs.)

20,33645

18,162111

20,381 18,

7,934(52)414

2,823

8645.534

{s3)1,5452,419

2077'l

4 459

2.829t237'l fi571

2.592 3,

368 462(41 249

(7:

2,301 2,322

2,424(s8)

(3s5)267

3,481

11,279)1,210{4151

2,2424.543 5.719

73815.58

49215.72

l{o,Pa.liculaas

(Rs. In Lacr

Ended3'l{laF18lAuditedl

Ended31-Mar-17lAudited)

1

2

3

SegmsntRevenue- Composile Prcducts 15,014

4.32214,0434.119

Totallncom€ 20.336 18.152

Segment Resulls(Prof[(+) / Loss (-) before Taxfrom each segmenl)- Composite Prcdlcls 613

3.383473

3.321

Sub Total 4.'t96 4,194

Less: Unallocable ExpensesLess: Loss ofjoint venture 237

31

1,085167

2A

111

Ptofir before Tar 3,033

- Composite Producls

- Unallocable

9,40469,9673170

4,24366,144

3.211Tot: 82,541 77,638

b) Segment Llabilitles- Composit€ Producls 4.494

3,5171.078

3,2754,0601.244

9,089

HINDUSTAN COMPOSITES LIMITEDRegd.Office: A Tower,8th Floor, Peninsula gusiness Pa.k,

Senapati Bapat Marg,Lower Parel, ilumbai - 4OOO13Tel: 022-66880100, Fax:022-66880105

visit us at ww\4,hindcompo.comcrN No. 129120MH1954P1C012955

Consolidated Statement of Assets and Liabilities as at 3lst

4 Previous peiods fgures have be€n reafiang€d / rcgrcuped wherever considered necess€ry lo coniirm to lh€ prose ation

Placo : mumbalDat6d : 8th May 2018

I The above resulls were review€d by the Audit Committee and approved by lhe Board of Directors in their meeting held on 8lh May 2018.The Board ofdirgctors of the company has rccommended lh€ payment ot dividend on equily shares of Rs.sf €ach @Rs. 0.50 per shate for the year ended 31st March,

2014.

Posl lhe applicsbility ol Goods and Servic€ Tax (GST) with effecl from 1 July 2017, revenue trcm operations are disclosed net of OST, whereas Excjseduly formed pad of other expenses in previous pedods/ year Accordingly, the revenue from operations and olher expenses for the quader and yeafended 31 March 201 I are not c.mparabb wnh the previous quader/year p€sented in the resulls.

The eamings per share in rcsped olalllhe previous reported periods have been €stated afler considedng the sutldivisaon and bonus share issue madedudng lhe lirsl quader of cufient year,

XN\lr

NON.CURREI{T ASSETS(a) Propeny, Planl and Equipment{b) Capital work-in-progress(c) Olher Inlangible ass€ts

(i) lnv€slmenls(ii) Other Financial Assets

{e) Oher Non Cunenl AssetsNOI{CURRENTASSETS

ASSETS

(b) Financjal Assets

{i) Investments(ii) Trade r€c€ivabl€s(iii) Cash and cash equivalents(iv) Bank balances other than (iii) above(v) Loans(vi) Otherlinancial assels

(c) Olher cunent assetsCURRENTASSETSASSETS

(a) Equity Share Capilal(b) Oher Equity

EQUITY

ON.cURRENT LIABILITIES(a) Financial Liabilities

- Bormwings(b) Provisbns(c) Defered ta( liabililies (Net)(d) Other non-fl rcnt liabilites

NONCURRENT LIABILITIES

LIASILITIES(a) Financial Liabilities

(i) Bonowings(ii) Trade payables(iii) Other fnancial liabililies

(b) Oher currenl liabilities(c) Provisjons(d) Curent tax liabilili* (Nel)

AL CURREMT LhBILITIESAL EOUITY ANO LIABILITIES

6-gq'1d

.di.-\\Vvrg

Managing Directoa

C HINDUSTAN

OMPOSITES LIMITED

HINDUSTAN COMPOSITES LTD. Peninsula Business Park, Tower "A", 8th Floor,

Senapati Bapat Marg,Lower Pare!, Mumbai-400 013.

Tel. : 022-6688 0100 • Fax: (91) (22) 6688 0105 E-mail : hcl@hindcompo.com

Website : www.hindcompo.com CIN No. L29120MH1964PLC012955

DECLARATION ON AUDITED FINANCIAL RESULTS

(Pursuant to the second proviso to Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015)

Pursuant to the second proviso to the Regulation 33(3)(d) of the Securities and Exchange Board

of India(Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby

confirm that the Stahttory Auditors of the Company, M/s. Bagaria and Co. LLP, Chartered

Accountants, Mumbai (FRN: 113447W) have issued the Audit Reports with unmodified opinion

on the Standalone and Conolidated Annual Audited Financial Results of the Company for the

year ended 31st March, 2018 which are approved at the Board Meeting held today i.e. gu, May,

2018.

For Hindustan Composites Limited

P.K. Choudhary

Managing Director DIN: 00535670

Place: Mumbai Date: gu, May, 2018

Sunil Jindal Chief Financial Officer

Regional Sales Offices

East: 29, Ganesh Chandra Avenue, Bando House, Room No. 207, 2nd Floor, Kolkata- 700 013 •Tel.: 91-33-2236078 •Fax: 91-33-22360788 West": 8-11, Paragon Condominium, 1st Floor, P. B. Marg, Worli, Mumbai - 400 013 • Tel. : 91-22-2495 1355 • Fax : 91-22 2495 1365

North : 401, Rohtt House, 3 - Tolstoy Marg, New Delhi - 110 001 • Tel. : 91-11-2331 3845 • Fax: 91-11-23313846 South: New No.931, Old No. 478, Ramaniyam Ciladel Apartment. 2nd Floor, Poonamallee High Road, Arumbakkam, Chennai - 600 106 ·Tel.: 91-44-2363 3722

 

  

  

 

   Newspaper : All India Edition Financial Express Date of Publication : 9th May, 2018 

 

   Newspaper : Mumbai Laksyadeep Date of Publication : 9th May, 2018