VTM Limited Regd. Office Sulakarai, Virudhunagar CIN L17111TN1946PLC003270 Statement of Audited Financial Results for the quarter and year ended March 31, 2020 under Ind AS Cost of materials consumed 2,598.78 2,608.93 2,773.27 10,982.20 11,247.76 Changes in inventones of finished goods, stock in Irade and work in progress (245.39) (96.95) 37505 (104.93) (395.74) c) Employee benefits expense 297.78 294.13 290.24 1,184.77 1,130.36 d) Finance Cost 30.59 32.95 27.98 109.74 1'13.59 e) Depreciation and amortization expense 219.64 178.31 178.38 763.13 681.65 D Other expenses 655.98 600.22 739.11 2,350.35 2.48449 298.53 342,41 177.84 1,636.75 1,400.52 298.53 342.41 177.84 1,636.75 1,400.52 93.78 (19.67) 23.53 81.14 308.90 (19.67) 347.10 Current Tax adjustment to earlier years Deferred tax Total Tax Expenses Net profit for the period (7·8) 10 Other comprehensive income, net of income tax a) (i) items that Will not be reclassified to profit or loss (il) income tax (charge)/ reversal relating to items will not be reclassified to profit or loss b) (i) items that will be reclassified to profit or loss (II) income tax (charge)/ reversal relating to items will be reclassified to profit or loss (5122) 232.78 292.18 18.15 Total other comprehensive income, net of income 11 Total comprehensive income for the period (9+10) 222.91 346.79 254.09 1,461.32 1,262.49 402.28 402.28 402.28 402.28 402.28 100 100 100 100 100 0.46 073 0.40 3.01 2.54 0.46 0.73 0.40 3.01 2.54 12 Paid-up equity share capital Face value per share (Rs.) 13 Earning per share (Rs.) (not annualised) - Basic - Diluted The above results for the quarter and year ended March 31,2020 as reviewed and recommended by the Audit committee of the Board, has been approved by the Board Directors at its meeting held on June 12, 2020 The COVID -19 pandemic is rapidly spreading throughout the world. VTM plants and offices were under nationwide lockdown since March 24, 2020 till 08.05.2020 production was resumed from 9th May,2020. As a result of lockdown the volumes for the month of March 2020 has been impacted. The Company is monitOring situation closely. The Company has made detailed assessment of its liquidity position for the next year and the recoverability and carrying value of its assets comprising property, plant equipment, investments, inventory and Irade receivables. Based on current indicators of future economic conditions, the Company expects to recover the carrying of these assets. The Company continues to evaluate them as highly probable considering the orders in hand. The situation is changing rapidly giVing rise to i uncertainty around the extent and timing of the potential future Impact of the COVID-19 which may be different from that estimated as at the date of approval of the I results. The Company will continue to closely monitor any material changes arising of future economic conditions and impact on its business.
Transcript
VTM LimitedRegd. Office Sulakarai, Virudhunagar
CIN L17111TN1946PLC003270Statement of Audited Financial Results for the quarter and year ended March 31, 2020 under Ind AS
Cost of materials consumed 2,598.78 2,608.93 2,773.27 10,982.20 11,247.76Changes in inventones of finished goods, stock in Iradeand work in progress (245.39) (96.95) 37505 (104.93) (395.74)
12 Paid-up equity share capitalFace value per share (Rs.)
13 Earning per share (Rs.) (not annualised)- Basic- Diluted
The above results for the quarter and year ended March 31,2020 as reviewed and recommended by the Audit committee of the Board, has been approved by the BoardDirectors at its meeting held on June 12, 2020
The COVID -19 pandemic is rapidly spreading throughout the world. VTM plants and offices were under nationwide lockdown since March 24, 2020 till 08.05.2020production was resumed from 9th May,2020. As a result of lockdown the volumes for the month of March 2020 has been impacted. The Company is monitOringsituation closely.
The Company has made detailed assessment of its liquidity position for the next year and the recoverability and carrying value of its assets comprising property, plantequipment, investments, inventory and Irade receivables. Based on current indicators of future economic conditions, the Company expects to recover the carryingof these assets. The Company continues to evaluate them as highly probable considering the orders in hand. The situation is changing rapidly giVing rise to iuncertainty around the extent and timing of the potential future Impact of the COVID-19 which may be different from that estimated as at the date of approval of the Iresults. The Company will continue to closely monitor any material changes arising of future economic conditions and impact on its business.
The company is engaged in the business of "textile" and therefore, has only one reportable segment in accordance with Ind AS 10B "Operating Segments"
Effective April 01, 2019, the Company has adopted Ind AS 116 Leases using modified retrospective approach. Accordingly, comparatives for the year ended March 31,2019 and quarter ended March 31, 2019 have not been retrospectively modified. The Compony has leoses thot were classified as finance leases applying Ind AS 17. I:orsuch leases, the carrying amount of the right-of-use asset and the lease liability at the (jate of initial application of Ind AS 116 is the carrying amount of the lease asset andlease liability on the transition date as measured applying Ind AS 17. Accordingly, an amount of Rs. 12B.141akhs has been reclassified from property, plant and equipmento right-of-use assets. The adoption of the standard did not have any material impact on the financial results for the current period.
The statement has been prepared in accordance with the companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the companiesAct, 2013 and other recognised accounting practices and policies to the extent applicable.
The format for audited quarterly results as prescribed in SEBI's Circular CIRICFDICMDI1512015 dated November 30, 2015 has been modified to comply with therequirements of SEBI's circular dated July 5 2016, Ind AS and Schedule III (Part II) to the Companies Act, 2013, which are applicable to companies that are required tocomply with Ind AS.
The Board of Directors of the company at its meeting held on February 12, 2020 declared an interim dividend of RS.0.90 of per equity share of Re. 1 I- each for the yearended March 31, 2020
Previous period figures have been regroupedl reclassified, where necessary.
· I,
Non-current assetsProperty, plant and equipment 9,594.59 8,759.96Capital work in progress 8.86 24.43Financial Assets
Investments 5.830.74 4,691.31Trade receivables 1.657.75 2,404.14Cash and cash equivalents 71.90 274.89Bank balances other than above 101.81 79.26Loans and advances 558.22 434.98Other financial assets 7.25
Other current assets 56.13 158.61Current tax assets (Net) 218.62 34.37
Total - Assets
Equity and Liabilities
IIEquity
Equity share capitalOther Equity
Non current liabilitiesFinancial Labilities
Borrowings
I· Jther financialliabliities
Dderred tax liabilities (Net)! Ot",,, ncr current liabilities
iI
Icurrent liabilitiesFinanci?1 Liabilities
T'3,;e payablesOther f.nancialIiabilities
Short -:-erm ProvisionsOtr.er current liabilities
182.132.13
121.47
Total- and Liabilities
10 Statement of cash flows
Profit before income taxAdjustments for
Depreciation and amortisation expense(Profit)! Loss on sale of fixed asset(Profit)! Loss on sale of investmentIncome from government grantFinance costsFair value changes of investments considered to profit and lossInterest incomeDividend incomeMark to market gain on forwards contracts
in operating assets and liabilities(Increase)! decrease in loans and advances(Increase)! decrease in other financial assets(Increase)! decrease in other assets(Increase)! decrease in inventories(Increase)! decrease in trade receivablesincrease! (decrease) in provisions and other liabilitiesincrease! (decrease) in trade payables
Cash generated from operations
Less. Income taxes paid (net of refunds)
Net cash from operating activities (AI
Gash Flows From Investing ActivitiesPurchase of PPE (including changes in CWIP)Sale proceeds of PPE(purUklse)f disposal proceeds of Investments (non-current)(.~urch~se)! disposal proceeds of Investments (current).mveslrnents in)! Maturity of fixed deposits with banksDlvide~d incomeInteresl income
INet cash used in investing activities (BlICash Flows From Financing Activities
Proceeds froml (repayment on long term borrowingsI'roeeeds froml (repayment on government grantsFinance costsDividend paid
Net cash froml (used in) financing activities (C)
Net decrease in cash and cash equivalents (A+B+C)Cash and cash equivalents at the beginning of the financial yearCash and cash at end of the
(ii) income tax (chargeV reversal relating to items thatnot be reclassified to profit or toss(i) itemsthatwill be reclassifiedto profit(J( loss~i) incometax (cha'!l.Y rev.... 1relatingto ite""lhat
(7.02) (8.89) 25.13 (40.73) (51.22)
other comprehensive income, net of income tax
per shan> (Rs.) (not annuaisedl
48&.95 1,23&.41 1,00&.40 1,262.49
402.28 402.28 402.28 402.28 402.28 402.28
1.00 1.00 1.00 ·1.00 1.00 1.00
0.73 1.08 0.48 2.55 2.14 2.54
0,73 1.08 0,48 2,55 2,14 Z.54.
comprehensive inccme tor the period (9+10)
The above results rot' the quarter and nine months ended December 31, 2019 as reviewed and recommended by the Audit committee of the Soard, has been approved by the BoardDirectors ~t its m~ng held on January 30, 2020. The statutory auditors of th~ Comp'~ny~_-:Q~_Q4La_!l~ted ~~ew 01 the aforesaid unaudited fin'!.."cial ~~s. ~d issued an
The formal for unaudited quarterly results as prescribed in SEars Circular CIRlCFO/CMO/15/2015 dated November 30. 2015 has been modified to comply wilh the requirements 01CircularNo. CIRICFDICMDll 801Z019dated Ju~ 19, 2019, Ind AS and Schedule IIIIPart II) to !he CompaniesAct 2013,which are applicableto companiesthat are required10... th IndAS.
The statement has been prepared in accordance with the companies (Indian Accounting Standards) Rules. 2015 (Ind AS) prescribed under section 133 of the companies Act 2013 andrecognised accounting practices and policies to the extent applicable,
The company is engaged in the business of "textile· and therefore. has only one reportablesegm&nt In accordance with Ind AS 108 "Operating Segments-,
Previous period figures have been regroupedl reclassified. where necessary,
plaCe:'Kappalur.Madurai.Dote: 1020
c~T Kannan
Chairman & Managing Director
-;- - t . /1 IMe ".:::\,.<..4
VIM LIMITEDRagd. OffICe: Sulakarai, Virudhunagar
CIN: U71 iHNl945PLC003270Unaudited Financiai Resulta lor the quarter and six months ended September
2,856.85 2,917.64Changes in inventories of finished goods, work inprogress and stock in trade 24167 (6.26)Employees benelits expense 301.60 291.26
20,53 25.67Depreciation and amortisation expense 183.74 18144
511,65 582,50
611.79 384.02
611.79 384,02
77.71Deferred laxTotal Tax Expens es
Net profit for the period (7·8)
10 Other comprehensive income I net of income taxa) (i) .ems that will not be reclassified to profit or toss
(ii) income tax (charye)1 reversal relating ill items thatwill no! be reclassifll'ld to prom or oss
b) (i) items that wi!1be reclassifll'ld 10profit or ioss(ii) income lax (charge)1reversal relating ill nems that
will be reclassifll'ld ill profit or loss
Total other comprehensive income, nat of income tax
11 ToIal comprehensive income for the period (9+10) 438.95 402,67
402.28 402,28tOO 100
1,08 0.751.08 0.75
391.62 1,262.49
402.28 402.281.00 100
1.83 2,541.83 2,54
1,400.52
1,400.52
above results for the quarter and six months ended September 30,October 18. 2019
as reviewed and recommended by the Audit commit!ee
with the companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed section 133 of the companies Act, 2013 and other recognised
The format for unaudited quartan, results as prescribed In SEBl's Circular CIRlCFDICMD/1512015 dated November 30,2015 has beenAS and Schedule III (part II) to the Companies Act, 2013, which are applicable to companies that are required to comply wfth lno AS,
the requirements of SEBl's circular dated July 5
The company 1$ engaged in the and therefor e. has only one reportable segment in accordance with Ind AS
Previous period figures have been regroupedi reclassifed, where necessary.
Other financial assetsOther non-current assets
•••et.InventoriesFinane",1 Assets
InvestmentsTrade receivablesCash and cash equivalentsSank balances other than aboveLoans and advancesOther financial assets
Depreciation and amortisation expense(Profil)! Loss on sale of fIXed asset(Profit)! loss on sale of investmentFinance costsFair value eIlenges of inwstments considered to profrt and lossInterest incomeDividend i",omeMark to market gain on fulWards contracts
in operating assets and liabilities(Increase)! decrease in loans and advances(Increase)1 decrease in other financial assets(Increase)! decrease in other assets(Increase)! decrease in inwnrories(Increase)1 decrease in trade receivablesIncrease! (decrease) affd other liabil~iesIncrease! (decrease) in trade payables
Cash generated from operations
Less. Income taxes paid (net of refunos)
Net cash from operating activities (A)
Cash Flows From Investing ActivitiesPurchase oj PPE (including changes in CWIP)Sale proceeds of PPE (including cna!>ges in CWIPj(Purchase)/ disposal proceeds of Investments (non-current)(Purchase)! disposal proceeds of Investments (current)(Investments in)! Malurtty of fixed deposits with banksDividend income
u•• d in investing activities (B)
Flows From Financing Activili ••Proceeds from! (repayment oij long term borrowings
cash from! (used injlinancing activities (C)
Rs.in La!d1.
Place Kappalur, Madurai.Date: October 18, 2019
VTM LIMITEDRegd. Office: Sulakarai, Virudhunagar
CIN L17111TNI946PLC003270statement of Audited Financial Relult. for the quarter and year ended March 31, 2019 under Ind AS
Notes:1 The above results for the quarter and year ended March 31, 2019 as audited and recommended by the Audit committee of the Board, has been approved by the Board of Directors at its
meeting held on April 22, 2019.
2 The format for unaudited quarterly results as prescribed in SEBI's Circular CIRlCFD/CMD/15/2015dated November 30, 2015 has been modified to comply with the requirements ofSEBI's circular dated July 5 2016, Ind AS and Schedule III (Part II) to the Companies Act 2013, which are applicable to companies that are required to comply with Ind AS.
3 The figures for the quarter ended March 31,2019 and March 31, 2018 are the balancing flQures between audited f'Jures in respect of the full financial year and unaudited publishedfigures in respect of the financial results upto the third quarter of the respective financial years.
4 The company is engaged in the business of "textile" and therefore, has only one reportable segment in accordance with Ind AS 108 "Operating Segments".
The above results for the quarter and nine months ended December 31, 2018 as reviewed and recommended by the Audit committee of the Board, has been approved bythe Board of Directors at its meeting held on January 31,2019
The statement has been prepared in accordance with the companies (Indian Accounting Standards) Rules, 2015 (Ind AS) presented under section 133 of the companiesAct, 2013 and other recognised accounting practices and policies to the extent applicable. .
The format for unaudited quarterly results as prescribed in SEBI's Circular CIRICFDICMDI1512015dated November 30, 2015 has been modified to comply with therequirements of SEBI's circular dated July 5 2016, Ind AS and Schedule III (Part II) to the Companies Act, 2013, which are applicable to companies that are required to
The company is engaged in the business of "textiles' and therefore, has only one reportable segment in accordance with Ind AS 108 "OperatingPrevious period figures have been regroupedl reclassified, where necessary.
Place: Kappalur, Madurai.Date' January 31,2019
for VTM Limited
T KannanChairman & Managing Director
VTM LIMITEDRegd. Office: Sulakarai, Virudhunagar
CIN L17111TNl946PLC003270Unaudited Financial Results for the quarter and six months ended September 30, 2018 under Ind AS
Income from Operations(a) Net Sales I Income from operations(b) Other Income (Net)
Total Income 11+2)
Expensesa) Consumption of raw materialsb) Changes in inventories of finished goods, work in
progress and stock in tradec) Employees benefits expensed) Finance Coste) Depreciation and amortisation expensen Other expenses
Total Expenses
Profit before exceptional items and tax (3·4)Exceptional itemsProfit before tax 15+6)
The above results for the quarter and half year ended September 30, 2018 as reviewed and recommended by the Audn committee of the Board, has been approved by the Board of Directors at ns rneetinq held onOctober 19,2018
The statement has been prepared in accordance with the companies (Indian Accounting Standards) Rules, 2015 lind AS) prescribed under section 133 of the companies Act. 2013 and other recognised accountingpractices and policies to the extent applicable.
The format for unaudited quarterty results as prescribed in SEBI's Circular CIRlCFD/CMD/15/2015 dated November 30, 2015 has been modified to comply with the requirements of SEBI's circular dated July 52016,AS and Schedule 1IIIPart II) to the Companies Act, 2013, which are applicable to companies that are required to comply wnh Ind AS.
The company is enqaqed in the business of 'textile" and therefore, has only one reportable seqment in accordance wnh Ind AS 108 "Operating Segments'.
Previous period figures have been regrouped! reclassified, where necessary.
Assets
Non-current assetsProperty, plant and equipmentCapital work in progressIntangible assetsFinancial Assets
InvestmentsLoansOther financial assets
Other non-current assets
Current assetsInventoriesFinancial Assets
InvestmentsTrade receivablesCash and cash equivalentsBank balances other than aboveLoans
Other current assets
Total· Assets
Equity and Liabilities
EquityEquity share capitalOther Equity
Non current liabilitiesFinancial Liabilnies
BorrowingsOther financial liabilities (other than those specifo!<!in (c) below)
9 Net profit for the period (7-8) 114.73 217.12 (185.99) 778.70 820.49
10 Other comprehensive income, net of income tax
a) (i) items that will not be reclassified to profit or loss (182.75) 54.85 61.63 (18.33) 224.82 (ii) income tax relating to items that will not be reclassified to
profit or loss 56.86 (18.14) (20.38) 2.49 (74.35) b) (i) items that will be reclassified to profit or loss - - - - - (ii) income tax relating to items that will be reclassified to
profit or loss - - - - -
Total other comprehensive income , net of income tax (125.89) 36.71 41.25 (15.84) 150.47
11 Total comprehensive income for the period (9+10) (11.16) 253.83 (144.74) 762.86 970.96
12 Paid-up equity share capital 402.28 402.28 402.28 402.28 402.28
Face value per share (Rs) 1.00 1.00 1.00 1.00 1.00
13 Earning per share (Rs) (not annualised)
- Basic 0.29 0.54 (0.46) 1.94 2.04
- Diluted 0.29 0.54 (0.46) 1.94 2.04
Notes:1
2
3
4
5
VTM LIMITEDRegd. Office: Sulakarai, Virudhunagar
CIN L17111TN1946PLC003270
Statement of Audited Financial Results for the quarter and year ended March 31, 2018 under Ind AS
The company is engaged in the business of "textile" and therefore, has only one reportable segment in accordance with Ind AS 108 "Operating Segments".
The format for unaudited quarterly results as prescribed in SEBI's Circular CIR/CFD/CMD/15/2015 dated November 30, 2015 has been modified to comply with the requirements of SEBI'scircular dated July 5 2016, Ind AS and Schedule III (Part II) to the Companies Act, 2013, which are applicable to companies that are required to comply with Ind AS.
S.No
Rs. In Lakhs
ParticularsThree months ended Year ended
The above results for the quarter and year ended March 31, 2018 as audited and recommended by the Audit committee of the Board, has been approved by the Board of Directors at itsmeeting held on April 27, 2018.
The statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the companies Act, 2013 and otherrecognised accounting practices and policies to the extent applicable. Beginning April 1, 2017, the Company has for the first time adopted Ind AS with a transition date of April 1, 2016.
The figures for the quarter ended March 31, 2018 and March 31, 2017 are the balancing figures between audited figures in respect of the full financial year and unaudited published figures inrespect of the financial results upto the third quarter of the respective financial years.
6 Statement of assets and liabilities
Particluars As at March 31,
2018 As at March 31,
2017
Assets
Non-current assets
Property, plant and equipment 8,546.71 9,134.89
Capital work in progress 678.67 -
Financial Assets
Investments 1,937.71 1,950.92
Loans 10.01 8.47
Other financial assets 80.11 104.02
Other non-current assets 61.24 27.25
11,314.45 11,225.55 Current assets
Inventories 2,328.10 2,132.32
Financial Assets
Investments 603.26 4,901.67
Trade receivables 2,560.61 2,044.62
Cash and cash equivalents 355.30 78.77
Bank balances other than above 3,571.12 73.42
Loans 597.26 536.08
Other current assets 70.67 0.01
10,086.32 9,766.89
21,400.77 20,992.44
Equity and Liabilities
Equity
Equity share capital 402.28 402.28
Other Equity 18,194.49 17,478.76
18,596.77 17,881.04
Non current liabilities
Financial Liabilities
Borrowings 775.91 698.24 Other financial liabilities 95.50 98.22
Deferred tax liabilities (Net) 987.93 1,252.68
1,859.34 2,049.14
Current liabilities
Financial Liabilities
Trade payables 333.67 442.56
Other financial liabilities (other than those specified below) 1.93 2.03
