en Manual Steel Enterprises ltd. To The Secretary Calcutta Stock Exchange Limited 7, Lyons Range Kolkata-700 001 Ref.:MSEL/SE/2019-20 Date: 13/02/2020 Dear Sir, Sub: Information/Intimations pursuant to SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding approval of unaudited Standalone & Consolidated financial results and Limited Review Repo'rt for the quarter ended on 31st December, 2019. Rtif: Mangal Steel Enterprises Limited (Scrip Code: 23097) Pursuant to the Regulation 30(6), 33(2), 33(3), 47(1), 47(3) and other applicable regulations of seeurtttes and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you the following: The Board of Directors of IViangalSteel Enterprises Limited, in its meeting held on Thursday, the 13th day of Febr-Liary,2020 at the registered office of the Company at 248 G.T. Road(N) Salkia, Howrai1-711106 has, inter-alia, approved the unaudited Standalone & Consolidated .tinpn.cial results of the Company for the quarter ended on 31st December, 2019, a copy of wnich is'enclosed herewith. ~., .1JtI,.,. , The Report on Limited Review of the financial results for the quarter ended on 31st December, 2019 is also enclosed herewith. The above said meeting of Board of Directors commenced at 2:30 p.rn: and concluded at 6:00 p.m. The financial results would be published in the format of newspaper publication version in one Ellgtish and one Vernacular newspaper. You are requested to kindly take the above on record. Thanking you. Yours faithfully, For MANGAL STEEL ENTERPRISES LIMITED ~~ Sarita Shaw Company Secretary ENel: as Above Corporate Identification Humber: L271 09WB1981 PLC033969 .Regd. Offici & Works: 248, GJ. Road (H), SaDda, Howrah • 711 106, India Phone: (91.33) 2655-8331 (3 Unes), Fax: (91·33) 2655-0468, E-mail: [email protected], Website: www.steelmangal.com Works: 15/1, FRoad, Belgochla, Howrah . 711105 Admn. OffIce: 1, Old Court House (01'118!', (4th Floor), Koikata· 700 001, Phone: (91·33) 2230-5331
Sub: Information/Intimations pursuant to SEBI {Listing Obligations andDisclosure Requirements) Regulations, 2015 regarding approval ofunaudited Standalone & Consolidated financial results and Limited ReviewRepo'rt for the quarter ended on 31st December, 2019.
Pursuant to the Regulation 30(6), 33(2), 33(3), 47(1), 47(3) and other applicableregulations of seeurtttes and Exchange Board of India (Listing Obligations and DisclosureRequirements) Regulations, 2015, we hereby inform you the following:
The Board of Directors of IViangalSteel Enterprises Limited, in its meeting held on Thursday,the 13th day of Febr-Liary,2020 at the registered office of the Company at 248 G.T. Road (N)Salkia, Howrai1-711106 has, inter-alia, approved the unaudited Standalone & Consolidated.tinpn.cial results of the Company for the quarter ended on 31st December, 2019, a copy ofwnich is'enclosed herewith.
~., .1JtI,.,.
, The Report on Limited Review of the financial results for the quarter ended on 31stDecember, 2019 is also enclosed herewith.
The above said meeting of Board of Directors commenced at 2:30 p.rn: and concluded at
6:00 p.m.
The financial results would be published in the format of newspaper publication version inone Ellgtish and one Vernacular newspaper.
You are requested to kindly take the above on record.
INDEPENDENTAUDITOR'S LIMITED REVIEW REPORT ONTHE UNAUDITEDSTANDALONEFINANCIAL RESULTS OF MANGAL STEEL ENTERPRISES LIMITED FOR THE QUARTERAND NINE MONTHS ENDED DECEMBER 3pt, 2019
To,The Board of DirectorsMangal Steel Enterprises Limited,248, G.T ROAD, NORTH, SALKlA,HOWRAH- 711106We have reviewed the accompanying statement of unaudited Standalone financial results of Mangal SteelEnterprises Limited ("the Company") for the quarter and Nine months ended December 31st,2019 which areattached herewith, and are being submitted by the Company pursuant to the requirements of Regulation 33 and52 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing
Regulations").These quarterly and Nine months financial results are the responsibility of the Company's Management andhave been approved by their Board of Directors, have been prepared in accordance with the recognition andmeasurement principles laid down in the Indian Accounting Standard 34, 'Interim Financial Reporting'("IndAS 34"), prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules.issued there under or by the Institute of Chartered Accountants of India, as applicable and other accounting
principles generally accepted in India.Our responsibility is to issue a report on statement based on our review.
We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, "Review ofInterim Financial Information performed by the Independent Auditor of the Entity" issued by the Institute ofChartered Accountants of India. This standard requires that we plan and perform the review to obtain moderateassurance as to whether the financial statements are free from material misstatement(s).
A review is limited primarily to inquiries of company personnel and analytical procedures applied to financialdata and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not
express an audit opinion.
Based on our review, nothing has come to our attention that causes us to believe that the accompanyingstatement of unaudited standalone financial results prepared. in accordance with the recognition andmeasurement principles laid down in the aforesaid Ind AS 34 prescribed under Section 133 of the CompaniesAct,2013, read with relevant rules issued there under and other recognized accounting practices and policiesgenerally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, as amended,including the manner in which it is to be disclosed, or that it contains any material misstatement.
Place: KolkataDated: 13th February, 2020
For Agrawal Subodh & Co.Chartered Accountants(Firm's Registration No. 319260E)
l Subodh & Co. _-----.:-::~~;-;;-___=::_-- ~Agrawa d Ace a u n tan t s - 301. Victory House. 3rd Floor Kolkata - 700013C h art ere h Chandra Avenue.1 Ganes 2
Phone: 2225-9430/31/3d k @yahoO,Com
E-mail: subo h a .Website: www.asnCo.ln
""'. '
PORT ON THE UNAUDIT~D'S LIMITED REVIEW RE NTERPRISES LIMITED
INDEPENDENTD~~~O~AL RESULTS OF MANGA~~~:~:;rt, 2019CONSOLIDATE NINE MONTHS ENDEDDEFOR THE QUARTER AND
. statement of unaudited consolidated fina~cial1) We have reviewed the accompan!,mg ( he "Parent Company") and its associates
results of Mangal Steel Enterpns~s Lt~ tether referred to as "the Group") for the(the Parent Company and its assoclate~ o~1st 2019 which are attached herewith, andQuarter and Ni~e months ended Decem er t to the requirements of Regulation 33 andare being submltte~~y the ~om?any pUdrs~~nclosureRequirements) Regulations, 2015,52 of the SEBI (Listing oblIgatIOnsan IS
as amended (the "Listing Regulations").
1 d nine months ended consolidated financial results are the2) These quarter Y an d h b d by their
responsibility of the Parent Company's Management an av~ een approve ..Board of Directors, have been prepared in accordance with the recogmt!on a~dmeasurement principles laid down in the Indian Accounting Standard 34, ~tenmFinancial Reporting' ("IndAS 34"), prescribed under section 133oft~e CompamesAct,2013 read with relevant rules issued there under or by the Institute of CharteredAccountants of India, as applicable and other accounting principles generally acceptedin India.
Our responsibility is to issue a report on statement based on our review.
3) We conducted our review in accordance with the Standard on Review Engagements(SRE) 2410, "Review of Interim Financial Information performed by the IndependentAuditor 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 asto whether the consolidated financial statements are free .frommaterial misstatement(s).A review is limited primarily to inquiries of company personnel and analyticalprocedures applied to financial data and thus provide less assurance than an audit. Wehave not performed an audit and accordingly, we do not express an audit opinion.
4) We also performed procedures in accordance circular No. CIR/CFDICMD1I44/2019dated March 29, 2019 issued by SEBI under Regulation 33(8) of the ListingRegulations, to the extent applicable.
1
The Statement includes the results of the following entities:
5) Based on our review conducted and procedures performed as stated in paragraph 3above , nothing has come to our attention that causes us to believe that theaccompanying statement of unaudited consolidated financial results prepared inaccordancewith recognition andmeasurement principles laid down in the aforesaid IndAS 34 prescribed under Section 133of the Companies Act,2013 , as amended read withrelevant rules issued there under and other recognized accounting practices and policiesgenerally accepted in India, has not disclosed the infonnation required to be disclosedin termSListing regulation, including the manner in which it is to be disclosed, or that
it contains any material misstatement.
6) We did not review the interim financial results of four associates included in theconsolidated unaudited financial results; whose interim financial results includescompany's share of net profit after tax of Rs.2.84 lakhs and Rs. 8.46 lakhs for thequarter and nine months ended 31" December, 2019 respectively as considered in theconsolIdated unaudited financial results. These interim financial results have beenrevIewed by othe~auditors whose reports have been furnished to us by the Managementand our conclusIOn on the Statement, in so far as it relates to the amounts anddlsclosur~smcluded in respect of these associates is based solely on the reports of theother audItors and the procedures performed by us as stated in paragraph 3 above.
Our conclusion on the Statement is not modified in respect ofth'e ba ove matters.
8 Profit/(Ioss) for the year (6-7) 97.02 295.83 341.90 525.90 897.26 1,136.21
9 Share of Profit of Associates 2.84 3.27 16.51 8.46 5.19 (39.04)
10 Total Profit 99.86. 299.10 358.41 534.36 902.45 1,097.17
11(a) Other Comprehensive Income (net of tax)(32.20)
11(b) Share of Other Comprehensive Income of Associates(1.02)
12 Total Comprehensive Income for the year (8 + 9) 99 ss 299.10 358.41 534.36 902.45 1,063.96
13 Paid- up Equity share capital 49.50 49.50 49.50 49.50 49.50 49.50
(Face value of Rs.10/- each)14 Reserves excluding Revaluation Reserve as
per Balance sheet of previous accounting year
15 Earnings per share (Before & after extraordinary Items)(of Rs.I0/-each) (not annualised for quarterly figures):a) Basic (Rs.) 20.17 60.42 72.41 107.95 182.31 221,65
b) Diluted (Rs.) 20.17 60.42 72.41 107.95 182.31 221.65
See accompanying notes to the financial results,
Place of Signature: KolkataDated: 13th February, 2020
For and on behalf of the Board of Directors of
»>~M~STEEl ENT~ITED
~ _____-<~~ v: ~. ..----(B.N. GARODIA)
Managing DirectorDIN NO 00309815
MANGAL STEEL ENTERPRISES LIMITED
Notes:-1) The above unaudited standalone and consolidated financial results were reviewed by the Audit Committee and thereafter the Board of directors has approved the
above results at their respective meetings held on 13th February, 2020.Consolidated financial results for the quarter and nine months ended 31st December, 2019 were not subject to Limited Review by the Statutory Auditors of the
Group.
2) The company and its associate has adopted, Indian Accounting Standards prescribed under section 133 of The Companies Act 2013 (Ind AS)from 1st April, 2017and accordingly these financial results and all the period presented have been prepared in accorqance with recognition and measurement principles laid down inInd AS34- Interim Financial Reporting read with relevant rules issued thereunder and the other accounting principles generally accepted in India and disclosestheinformation required to be disclosed in terms of Regulation 33 of the Securities and Exchar,rgeBoard of India (LODR)regulation 2015 and amendment thereon.
3) The format for unaudited standalone and consolidated quarterly results as prescribed vide SEBIcircular CIR/CFD/CMD/15/2015 dated 30th November, 2Q15hasbeen modified to comply with the requirements of SEBI circular dated 5th July, 2016 and Schedule III (Division II) to the Companies Act, 2013 applicable to
companies that are required to comply with lnd AS.4) The company and its associateshas adopted IndAS 116, 'Leases',mandatory for reporting periods on or after April 1, 2019. The adoption of this standard did not
have any material impact on the profit of the current quarter.
5) Particulars of Associatesason 31st December, 2019:(a) M/s Subham Holding Pvt Ltd (b) M/s Hindusthan Enterprises Limited (c) M/s Ansh Infraprojects Pvt. Ltd (d) M/s Mangal Engineering Limited.
6) A new section 115BAAwas Inserted in the Income Tax Act 1961, by theGovernment of India on 20th September, 2019 vide the Taxation Laws(Amendment)Ordinance 2019 which provides an option to companies for paying income tax at reduced rates in accordance with the provisions/ conditions defined in the saidsection. The Company'is in the process of evaluating the impact of this ordinance and has continued to apply the original provisions asat 31st December, 2019.
7) The figures of previous periods have been regrouped / reclassified wherever necessaryto make them comparable with those of the current peiod.
1) Total income from operations 2,148.74 2,892.93 3,020.18 11,622.64 9,955.44
2)Net Profit/(Loss) for the period(before Tax, Exceptional and/orExtraordinary items) 150.56 431.14 454.77 1,800.02 754.87
C 3) Net Profit/(Loss) for the periodbefore tax (after Exceptional and/orExtraordinary items) 150.56 431.14 454.77 1,800.02 754.87
4) Net Profit/(Loss) for the periodafter tax (after Exceptional and/orExtraordinary items) 97.02 295.83 341.90 1,136.21 492.50
Total Comprehensive Income forthe period {Comprising Profitt(Loss) for the period (after tax) and
5) other Comprehensive Income(after tax)
97.02 295.83 ' 341.90 1,104.01 492.50
6) Equitv Share Capital 49.50 49.50 49.50 49.50 49.50
Reserves (excluding Revaluation7) Reserve) as shown in the Audited
Balance Sheet of the previous year- - 6,901.32 5,803.26
C Earnings Per Share (EPS) (of Rs8) 10/- each) (not annualised)
(a) Basic (in Rs) 19.60 59.76 69.07 229.54 99.49
(b) Diluted (in Rs) 19.60 59.76 69.07 229.54 99.49
Note:(a) The above is an extract of the detailed format of Annual Financial Results filed with the Stock Exchanges for thequarter ended 31st December, 2019 under Regulation 33 of the SEBI (Lisiting Obligations and DisclosureRequirements) Regulations, 2015. The full format of the Annual Financial Results for the quarter ended 31stDecember, 2019 are available on the Stock Exchange website viz. www.cse-india.com and on the Company'sWebsite.(b) The above Results have been reviewed by the Audit Committee and approved by the Board of Directors at theirmeeting held on 13.02.2020.
