A Corporate office: Village Bedla, Udaipur-313 004, INDIA 3oth May, 20 1 9 To, The Listing Department, Bombay Stock Exchange Limited, Floor 25, P.J.Towers, Dalal Street, Mumbai-400001. Sub.: Submission of Audited Financial Results for the quarter and year ended on 3 1/03/2019. Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of M/s PACIFIC INDUSTRIES LIMITED in their meeting held on Thursday, 3oth May 2019 at the Corporate office of the Company situated at , Village Bedla, Udaipur-3 13001 (Raj.) inter alia transacted the following businesses: 1. Audited Financial Results for the quarter and year ended on 31/03/2019 along with Auditors Reports with modified opinion thereon. A statement showing impact of audit qualification pursuant to regulation 33 of SEBI (Listing obligation & Disclosures Requirements) Regulation, 2015 (as amended) and in compliance with SEBI circular CIR/CFD/CMD/56/2016 dated May 27 20 16 is enclosed herewith 2. Appointment of Mr. Ravi Sharma, Chartered Accountant as internal Auditor of the Company for the financial year 2019-20. It is for your kind information and necessary records. Thanking You Yours faithfully, TED CIN: L14101KA1989PLCO62041 REGISTERED OFFICE: Survey No. 13, N.H. 48, Kempalinganahalli Village, Nelamangala Taluk, Bangalore (R) 562123 Karnataka, INDIA Visit us at : www.pacificindustriesltd.com, E-mail: [email protected], [email protected]Udaipur Phone: +91-294-2440933 / 2440934 / 2440388 12440196, Fax No. : +91-294-2440780 Bangalore Phone : +91-80-27723004, +91-80-27725976, Fax : +91-80-27723005
Transcript
A Corporate office: Village Bedla, Udaipur-313 004, INDIA
3oth May, 20 1 9
To, The Listing Department, Bombay Stock Exchange Limited, Floor 25, P.J.Towers, Dalal Street, Mumbai-40000 1.
Sub.: Submission of Audited Financial Results for the quarter and year ended on 3 1/03/2019.
Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of M/s PACIFIC INDUSTRIES LIMITED in their meeting held on Thursday, 3oth May 2019 at the Corporate office of the Company situated at
, Village Bedla, Udaipur-3 13001 (Raj.) inter alia transacted the following businesses:
1. Audited Financial Results for the quarter and year ended on 31/03/2019 along with Auditors Reports with modified opinion thereon. A statement showing impact of audit qualification pursuant to regulation 33 of SEBI (Listing obligation & Disclosures Requirements) Regulation, 2015 (as amended) and in compliance with SEBI circular CIR/CFD/CMD/56/20 16 dated May 27 20 16 is enclosed herewith
2. Appointment of Mr. Ravi Sharma, Chartered Accountant as internal Auditor of the Company for the financial year 201 9-20.
It is for your kind information and necessary records.
Thanking You
Yours faithfully,
TED
CIN: L14101 KA1989PLCO62041 REGISTERED OFFICE:
Survey No. 13, N.H. 48, Kempalinganahalli Village, Nelamangala Taluk, Bangalore (R) 562123 Karnataka, INDIA Visit us at : www.pacificindustriesltd.com, E-mail: [email protected], [email protected]
' 3580. JOHRI BAZAR, MSB KA RASTA 4TH 1 CROSSING, JAlPUR RAJASTHAN 302003
Independent Auditor's Report
Auditor's Revort on Consolidated Financial Results of PACIFIC INDUSTRIES LIMITED Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To Board of Directors of PACIFIC INDUSTRIES LIMITED
1. We have audited the consolidated annual financial results of PACIFIC INDUSTRIES LIMITED ("the Company") for the year ended 31 March 2019, attached herewith, being
submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
20 15 ('Listing Regulations').
2. These consolidated annual financial results have been prepared from consolidated annual financial statements which are the responsibility of the Company's Management. Our responsibility is to express an opinion on these consolidated annual financial results based on
our audit of such consolidated annual financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in the Companies (Indian Accounting Standards) Rules, 201 5 as per section 133 of the Companies Act, 201 3 and other accounting principles generally accepted in India and in compliance with
Regulation 33 of the Listing Regulations.
3. We conducted"our audit in accordance with the auditing standards generally
accepted in India. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the consolidated annual financial results
are free of material misstatement(s). An audit includes examining, on a test basis,
evidence supporting the amounts disclosed as financial results. An audit also
includes assessing the accounting principles used and significant estimates made by
management. We believe that our audit provides a reasonable basis for our opinion.
4. We did not audit the financial statements of six subsidiaries (including four step
down subsidiaries) included in the consolidated annual financial results, whose annual
financial statements reflect Total Assets of Rs 29,977.87 Lacs as at 31 March 2019 as well as
the Total Revenue of Rs 1,223.45 Lacs for the year ended 3 1 March 201 9. These annual
RAVI SHARMA & CO Chartered Accountants
/- 7 3580. JOHN BAZAR. MSB KA RASTA 4TH CROSSING, JAIPUR RAJASTHAN 302003
whose reports have been furnished to us, and our opinion on the consolidated annual financial results, to the extent they have been derived from such annual financial statements is based
solely on the report of such other auditors., details of subsidiaries are as under :-
a. Gist Minerals Technologies Limited b. Gaze Fashion trade Limited c. Radhika Vyapaar Private Limited d. Biswas Solar Instrument Private Limited e. Blood Hound Security Company Private Limited f. Saha Coloured & Flavour Spirit Manufacturer Private Limited
5. Basis for Qualified Opinion
Refer Note No. 8 of Notes on Consolidated Ind AS Financial Statements regarding confirmation & reconciliation of various Debit and Credit balances appearing under various heads & non-provision of exchange fluctuation w.r.t certain old balances. Final reconciliations/confirmations of the same may affect our disclosure.
6 Qualified Opinion
In our opinion and to the best of our information and according to the explanations given to us except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph these consolidated financial results:
(i) have been presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
(ii) give a true and fair view of the net consolidated profit and other comprehensive income and other financial information for the year ended 3 1 March 201 9
For RAVI SHARMA & CO Chartered Accountants
Retzistration No: 015143C
Place: Udaipur Date: 30th May 2019
PARTNER Membership No: 418196
PAClf lC INDUSTRIES LIMITED A Corporate office: V~lla e Bedla,
Regd. Office : Survey No.l3,N.H.48,Kempalinganhalli,NelamangaIa Taluk, ~ i s t t . ~ a n ~ a ~ o r e - ~ ~ ~ ~ ~ ~ * & ~ , INDIA Website: www.pacificindustriesltd.com, E-mail: [email protected] CIN: ~ 1 4 1 0 1 ~ ~ 1 9 8 9 ~ ~ ~ 0 6 2 0 4 1
CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31,2019
By order of the Board
XI
XI1
Xlll
Date : 30.05.2019
Place : Udaipur
(EXECUTIVE DIRECTOR
Survey No. 13, N.H. 48, Kempalinganahalli Village, N , ~ ~ ~ 1 ~ ~ ~ ~ ~ 6 2 1 2 \ Karnataka. INDIA
S. No. IParticulars I As at 31st March 20191 As at 31st March 20181
j i
l ~ o t a l Current Asset I 20.828.67 1 25.310.34 1
(1)
(2)
ASSETS Non-current assets (a) Property, Plant & Equipment (b) Capital work-in-progress (c) Other Intangible Asset (d) Financial Assets
(i) Investments (ii) Loans & Advances
(e) Other non-current assets Total Non-current Asset
Current assets .
(a) Inventories (b) Financial Assets
(i) Investments (ii) Trade Receivable (iii) Cash and Cash equivalents (iv) Other Bank Balances (v) Loans &Advances (vi) Other Financial Asset
(c )Other current assets
(1) EQUITY (a) Equity Share capital
11. Total Assets
(b) Other Equity 31,399.87 Total Equity 31,535.02 Non-current liabilities
43,122.03 1 42,503.07
31,360.47 31,495.62
(a) Financial Liabilities (i) Borrowings 1,907.27
(b) Provisions 187.41
Tot21 Non-current Liabilities 2,094.68-
(a) Financial Liabilities (i) Borrowings (ii) Trade Payables (iii) Other Financial Liabilities
(b) Other current liabilities (c) Provisions (d) Current tax liabilities (net) Total Current Liabilities Total Liabilities
EQUITY AND LIABILITIES
1,295.97 4,206.08 3,357.32
400.97 177.46 54.53
9,492.33 11,587.01 1 ' 11,007.44
I
Total Equity and Liabilities 43,122.03 1 42,503.07
A Corporate office: Villaae Bedla.
I PACIFIC INDUSTRIES LIMITED IRegd. Office : Survey No.l3,N.H.48,KempalinganhaIIi,NeIamangaIa Taluk, DisttBangalore-562123 (Karnataka) - ' '1 I Website: www.pacificindustriesltd.corn, E-mail: [email protected] CIN: ~ 1 4 1 0 1 ~ ~ 1 9 8 9 ~ ~ ~ 0 6 2 0 4 1 I CONSOLIDATED SEGMENT REPORT FOR THE YEAR ENDED MARCH 31,2019 I I INR ( In Lacs)
S. No. PARTICULARS
1
I I Less : Inter Segment Revenue 732.88 1 164.86 1 Total
Segment Revenue A.Marble & Granites(Net) B. Trading Other than Marble & Granite C. Investment & Finance D.Others Income/Services
11018.24
Revenue From Operations (Excluding Other Income)
I I I l~nallocable E X D ~ ~ S ~ S (Finance Cost) I 137.77 1 266.37 I
6774.68 3498.20
745.35 0.00
6960.85
2
5373.08 i 153.15 , 712.62 . 722.00
10285.37 6795.99
Segment Results Profit/Loss Before Charging Unallocable Expenditures A.Marble & Granites B. Trading Other than Marble & Granite C. Investment & Finance
Total Profit (Before Tax & OCI)
3
By order of the Board For PACIFIC INDUSTRIES LIMITED I
(460.25) 937.60
1318.041
21.54
B. Trading Other than Marble & Granite C. Investment & Finance
Segment wise capital employed (Segment Assets- Segment Liabilities) A.Marble & Granites I 6701.76 4359.76
444.01 26296.53
191.65 26455.80
A Corporate office: Village Bedla, Udaipur-313 004, INDIA
i / i
I PACIFIC INDUSTRIES LIMITED I Regd. Office : Suwey No.l3,N.H.48,Kempalinganhalli,Nelamangala Taluk, Dislt.Bangalore-562123 (Karnataka) Website: mnm.pacificindustriesltd.com, E-mail: [email protected] CIN: U4101KA1989PLC062041
STATEMENT OF CONSOUDATED AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31,2019
Notes:- 1 The abwe Financial Resultsfor the year ended March 31,2019 have been reviewed by the Audit Commmittee and apprwed by the Board of Directors at respective
meeting held on May 30th, 2019. 2 The financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as notified under Section 133 of the Companies
Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 as amended. The Company adopted IndAS from 1 April 2017 with the transition date as 1 April 2016. Financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS 34 -Interim Financial Reporting.
3 The format for audited results as prescribed in SEBl's Circular CIR/CFD/CMD/15/2015 dated Nwember 30,2015 has been modified t o comply with requirements of SEBl's Circular dated July 15, 2016, Ind AS and Schedule Ill (Division [I) to the Companies Act, 2013 which are applicable to companies that are required to comply with Ind AS.
1 4 Segment results in accordance with Ind AS 108-Operating Segment are given in Annexure attached. I 5 Consequent to introduction of Goods & Service Tax with effect from July 1,2017, Central Excise, Value Added Tax etc. have been subsumed into GST. In accordance
with Ind-AS and Schedule (Ill) of the Companies Act, 2013, GST is not included in revenue from operations. Therefore revenue from operation and Excise Duty for the quarter and year ended March 31,2018 are not comparable with the previous period. Following additional information is provided to facilitate such comparison Particulars I Yearended
1 31.03.19 1 31.03.18
6 Fair Value of Investments in Unquoted SecuritieslOther Interest has been determined on the basis of latest available audited financial Statements of the respective Investments.
7 Figures for the previous period have been regrouped/ reclassed wherever necessary to make them Ind-AS compliant and comparable with that of current period.
.
8 confirmation and reconciliation of various Debit and Credit balances appearing under various heads & non provision of exchange fluctuation w.r.t. certain old balances. Final reconciliations/confirmation of the same may effects our disclosure.
I I
Revenue from operations (Net of Excise Duty) 1 10285.371 6795.99
I Bv order of the Board I
Place: Udaipur Dated: 30th May 2019
1
CIN: L14101 KA1989PLCO62041 REGISTERED OFFICE:
Survey No. 13, N.H. 48, Kempalinganahalli Village, Nelamangala Taluk, Bangalore (R) 562123 Karnataka, INDIA Visit us at : www.pacificindustriesltd.com, E-mail: [email protected], pilsouth@pacificgranites.@m
\ 3580, JOHRI BAZAR, MSB KA RASTA 4TH I CROSSING, JAIPUR RAJASTHAN 302003 m) - -A Ph. 9351258175
Independent Auditor's Report
The Board of Directors, Pacific Industries Limited,
1. We have audited the accompanying standalone Financial Results of Pacific Industries Limited (the "Company) for the quarter and year ended 31" March 2019, (the "Statement), being submitted by the Company pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015 (the Listing Regulations, 201 5") as amended by Circular No. CIR/CFD/FAC/62/2016 dated July 5,2016.
2. This Statement is the responsibility of the Company's Management and is approved by the Board of Directors. The Statement as it relates to the quarter ended March 31, 2019, has been compiled from the related interim condensed standalone financial statements prepared in accordance with Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34") and as it relates to the year ended March 3 1,2019, has been compiled from the related annual standalone financial statements prepared under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express an opinion on the Statement based on our audit of such interim condensed standalone financial statements and annual standalone financial statements.
3. We conducted our audit in accordance with Standard on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirement and plan and perform the audit to obtain reasonable assurance about whether the Statement is free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. An audit also includes evaluating the appropriateness of the accounting policies use and the reasonableness of the accounting estimates made by the Management, as well as evaluating tlie overall presentation of the Statement.
We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.
Basis for Qualified Opinion
Refer Note No. 7 of Notes on Standalone Fnd AS Financial Statements regarding confirmation & reconciliation of various Debit and Credit balances appearing under various heads & non-provision of exchange fluctuation w.r.t certain old balances. Final reconciliations/confirmations of the same may affect our disclosure.
RAVI SHARMA & CO Chartered Accountants
\ 3580, JOHRI BAZAR, MSB KA RASTA 4TH ' CROSSING, JAIPUR RAJASTHAN 302003 Ph. 9351258175
5. Qualified Opinion
In our opinion and to the best of our information and according to the explanations given to us except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph these standalone financial results:
(i) is presented in accordance with the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015 as amended by Circular No. CIRlCFD/FAC/62/2016 dated July 5, 20 16; and
(ii) gives a true and fair view in conformity with the aforesaid Indian Accounting Standards and other accounting principles accepted in India of the profit, total comprehensive income and other financial information of the Company for the quarter and year ended March 3 1,20 19.
6. The Statement includes the results for the Quarter ended March 31, 2019 being the balancing figures between the audited figures in respect of the full financial year and the publish year to date figures up to the third quarter of the current financial year which were subject to limited review by us.
For Ravi Sharma & CO Chartered Accountants
(Firm Registration No: 015143C)
(Paras Bhatia) Partner --
(Membership No: 418196)
Udaipur, May 30,2019
PACIFIC INDUSTRIES LIMITED m PACIFIC INDUSTRIES LTD.
A Corporate office: Village Bedla, Udaipur-313 004, INDIA
I i i
1 The above Finanaal Results for the quarter & year ended March 31,2019 have been reviewed by the Audit Commmittee and approved by the Board of Directors at their respective meetings held on May 30,2019.
2 The Iinanaal results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as notified under Section 133 of the Companies ? . Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 as amended. The Company adopted IndAS from 1 April 2017 with the transition date as b, i P.
1 April 2016. Financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS 34 -
/ " Interim Fiianaal Reporting.
3 The format for audited quarterly results as prescribed in SEBI's Circular CWCFD/CMD/15/2015 dated November 30, 2015 has been modified to comply with requirements of SEBI's Circular dated July 15, 2016, Ind AS and Schedule UI (Division 11) to the Companies Act, 2013 which are applicable to companies that are required to comply with Ind AS.
4 Segment results in accordance with Ind AS 108-0perating Segment are given in Annexure attached.
6 The figures of the last quarter are the balanang figures between the audited figures in respect of the full year and the unaudited published figures up to the third quarter ended December 31,2018
7 confirmation and reconaliation of various Debit and Credit balances appearing under various heads & non provision of exchange fluctuation w.r.1. certain old! balances. Final reanciliations/confirmation of the same may effects our disclosure. i
8 Fair Value of Investments in Unquoted Secur i t i d ther Interest has been determined on the basis of latest available audited financial Statements of the respectivd Investments.
9 Figures for the previous period have been regrouped/ reclassed wherever necessary to make them Ind-AS compliant and comparable with that of current period.
5 Consequent to introduction of Goods & Service Tax with effect from July 1,2017, Central Excise, Value Added Tax e tc have been subsumed into GST. In accordance with Ind-AS and Schedule (III) of the Companies Act, 2013, GST is not included in revenue from operations. Therefore revenue from operation and Excise Duty for the quarter and year ended March 31,2018 are not comparable with the previous period. Following additional information is provided to faalitate such comparison :-
Place: Udaipur
Dated: 30th May 2019
Particulars
Revenue from owrations (Net of Excise DuW)
By order of the Board
KAPlL AGARWAL (EXECUTIVE DIRECTOR)
( DIN 00386298)
Ouarter ended 31.03.19 1 31.1218 1 3103.18
3422.141 2461.501 2001.91
CIN: L14101 KA1989PLCO62041 REGISTERED OFFICE:
Survey No. 13, N.H. 48, Kempalinganahalli Village, Nelamangala Taluk, Bangalore (R) 562123 Karnataka, INDIA Visit us at : www.pacificindustriesltd.com, E-mail: [email protected], [email protected]
STANDALONE SEGMENT REPORT FOR THE QUARTER AND YEAR ENDED MARCH 31,2019
S. No.
INR ( In Lacs)
I PARTICULARS
QUARTER ENDED YEAR ENDED I I
AUDITED
1
12 l~eement Results 1 I I I I I
Revenue From Operations (Excluding Other Income)
I I~rofit/loss Before Charging Unallocable Expenditures I I
UNAUDITED
Segment Revenue A.Marble & Granites(Net) 0. Trading Other ite C.Others Service
3422.14
AUDITED
1812.54 1609.60
A.Marble & Granites B. Trading Other than Marble & Granite C.Others Services
I l ~ o t a l Profit (Before Tax 81 I
2461.50
less : Unallocable Expenses (Interest)
I I 3 l~eament wise ca~ i ta l em~loved (Segment Assets- Segment Liabilities) I I
AUDITED
1413.28 1,048.22
(308.78) 425.36
I ( ~ . ~ a r b l e & Granites 13163.00l 11409.371 9980.691 13163.001 9980.691
AUDITED
2001.91
72.60
I 10. ~ r a d i n ~ Other than Marble & Granite 1 444.01 1 213.29 1 41.541 444.01) 41.541
1534.85 153.15 313.91
(152.69) 285.10
10113.72
116.06
Date : 30.5.2019 Place : Udaipur
6615.52 3498.20
0.00
- 6745.18
i
102.67 39.15
223.15
Ic.0thers Services
By order of the Board For PACIFIC INDUSTRIES
5978.12 - 13.15 - .3.91 -
65.25.
0.001 0.001 488.42 1 0.00 1 488.42
CIN: L14101 KA1989PLCO62041 REGISTERED OFFICE:
Survey No. 13, N.H. 48, Kempalinganahalli Village, Nelamangala Taluk, Bangalore (R) 562123 Karnataka, INDIA Visit us at : www.pacificindustriesltd.com, E-mail: [email protected], [email protected]
Udaipur Phone; +91-294-2440933 / 2440934 / 2440388 12440196, Fax No. : +91-294-2440780 ~ a n ~ a l o r e Phone : +91-80-27723004, +91-80-27725976, Fax : +91-80-27723005
