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aBEEKAY STEEL INDUSTRIES LTD.
An ISO 9001:2008 Organisation
- Lansdowne Towers, 4th Floor 2/1A, Sarat Bose Road, Ke1kata-20
BEEKAYt : +91 33 3051 4444 (30 Lines), +91 33 2283 0061,f : +91 33 2283 3322
E: contact©beekaysteel Com, CIN : L27106W31981PLC033490
Ref: BSlL/RKS/BM/BSE/18-19/ agé Date: 30.05.2018
To
\‘v‘o’ks a:
The Dy. General Manager
BSE Limited.
PJ. Towers,
Floor No. 25.
Dalal Street,
Mumbai 7 400 001
Dear Sir.
Sub: Outcome of Board Meetingé’; Suhmissiou ul'Ouarterlv Sr Yearly Audited Financial Results —
Compliance of Renulations 30 & 33 of SEBI (LODR) Regulations, 2015
Ref: Scrip Code:— 539018. BEEKAY
Pursuant to Regulations 30 8; 33 read “1111 Schedule [11 ot' SEB] (Listing Obligations and Disclosure
Requirements) Regulations. 2015‘ we wish to inform you that the Board of Directors in its meeting held
today had considered the following businesses :-
1. Approved the Audited Annual Accounts (both standalone & consolidated) for the financial year
ended 0t131’lMareh, 2018
2. Recommended a Dividend @ 10% on equity shares. i.e. Re. 1.00 on Equity Shares of Rs, 10/-
eaeh fully paid up 01‘ the Company, for consideration & approval ofthe Members at the ensuing
Annual General Meeting.
In this regard please lind enclosed herewith the folio“ ing documents;
1. Standalone Audited Financial Results for the quarter and year ended on 31‘[ March, 2018 along-
with Auditor‘s Report and Declarationdbr audit report with unmodified opinion under regulation
33(3)(d) OFLODR duly signed.
2. Consolidated Audited linaneial results for the year ended on 31" March, 2018 along-with
Auditor’s Repon and Deelaratiotrl'or audit report \yith unmodified opinion under regulation
33(3)(d) of LODR duly signed
This for your kind information and compliance as per the Regulation 30 3: .33 read with Schedule III of
the SEB1(LODR) Regulations, 2015 with the Stock Exchange.
Please note that the meeting commenced at 11.30 AM and concluded at 8.30 PM.
This may please be informed to the members ofthe Exchange
Thanking You,
Yours faithfully,For Beek el Industries Ltd.
‘
t
(Rabimlm Kumar Sol: 00)
Comprmy SecretaryEnds: ax above
Jamshedpur
Vishakapatnam a.
Chennai
www.beekaistee1.com
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MANAGING DIRECTOR
Woes: DINI‘MIC‘BUWR’
Jamshedpuv
VIshakapatnam &
Chennai www.beeka steel.com
/ LIHALA & co.anmeneo Accourmms 11, Crooked Lane, Kolkata-7OO 069
Telefax : 2248-7109, 22435095
Email : [email protected],in
AUDITOR’S REPORT ON STANDALONE QUARTERLY FINANCIAL RESULTS AND YEAR
ENDED RESULTS OF THE COMPANY PURSUANT TO THE REGULATION 33 OF THE
SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONj‘
2015
To
Board of Directors
Beekay Steel Industries Ltd.
We have audited the Standalone financial results of MIS. BEEKAY STEEL INDUSTRIES LTD
for the quarter and year ended 315‘March. 2018‘ attached herewith‘ being submitted by the
Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 read With SEBI Circular No.
CIR/CFD/FAC/62/2016 dated July 5‘ 2016,
This statement is the responsibility of the Company‘s Management and has been approved
by the Board of Directors. Our responsibility is to express an opinion on the statement based
on our audit of such Standalone financial statement which have been prepared in accordance
with the lndian Accounting Standards prescribed under Section 133 of the Companies Act,
2013 read with relevant rules issued thereunder and other accounting principles generally
accepted in lndia.
We conducted our audit in accordance with the auditing standards issued by the Institute of
Chartered Accountants of India. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial results are free of material
misstatement(s). An audit includes examining evidence supporting the amounts disclosed in
the financial results. An audit also includes assessing the accounting prinCiples used and
significant estimates made by management, We believe that audit evidence obtained by us is
sufficient and appropriate to provide a baSIs for our audit opinion.
Based on our audit conducted as above 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 results'
(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requnements) Regulations 2015 read With SEBI Circular
No.ClR/CFD/FAC/62/2016 dated July 5, 2016 in this regard; and
(ii) give a true and fair view in conformity with the aforesaid Indian Accounting Standard and
other accounting principles generally accepted in india of the net profit and total
comprehensive income and other financial information of the Company for the quarter
and year ended March 31,2018,
The statement includes the results forthe quarter ended March 31 i2018 being the balancing
figure between Audited figures in respect of the full financial year and the published year to
date figures upto the third quarter of the current financial year.
Contd., (2)
The financial information of the Company forthe corresponding quarter and year ended March31‘ 2017 were reviewed by the predecessor Auditors who expressed unmodified opinion videtheir reports dated 30.05.2017. Our conclusion is not modified in respect thereof.
The audited figures of the previous financial year and quarter ended 31“ March, 2017 hasbeen revised to make comparable in accordance to IndAS and has been audited by thepresent Auditors.
For LIHALA 8. CO.
Chartered AccountantsFirm Regd. No.315052E
(RAJESH LIHALA)(Partner)
Mem. No.052138Place. 11, Crooked Lane, Koikata — 700 069
Dated: 30‘h May‘ 2018
/LIHALA & co.CHARTERED ACCOUNTANTS 11. Crooked Lane, Kolkata—7OO 069
Teletax : 224837109, 2243-5095
E-maiI : Iihalaco@yahootcoiin
AUDITOR‘S REPORT ON CONSOLIDATED YEAR ENDED RESULTS OF THE COMPANY
PURSUANT TO THE REGULATION 33 OF THE SEBI tLlSTING OBLIGATIONS AND
DISCLOSURE REQUIREMENTS) REGULATIONS 2015
To
Board of Directors
Beekay Steel Industries Limited
We have audited the consolidated annual financial results of MIS. BEEKAY STEEL
INDUSTRIES LTD, comprising its Associate (together referred as “the Group")for the year
ended 315‘March, 2018, attached herewith. being submitted by the Company pursuant to the
requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations. 2015read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016
These consolidated annual financial results have been prepared on the basis of the related
consolidated financial statements, which are the responsibility of Company’s managementandhave been approved by the Board of Directors Our responsibility is to express an opinion on
thisconsolidated financial results based on our audit of such consolidated financial statements
which have been prepared in accordance with the Indian Accounting Standards specified in
Section 133 of the Companies Act, 2013 read With the relevant rules issued there under as
applicable and other recognized accounting principles generally accepted in India.
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 financial results are free of material misstatementts) An audit includes
examining evidence supporting the amounts disclosed in the financial results. An audit also
includes assessing the accounting principles used and significant estimates made by the
management. We believe that our audit proVides a reasonable baSis for our opinion.
We did not audit the financial statements of AKC Steel Industries Ltd. an Associate Company
in which the Company's share of net loss is Rs.64.00 Lakhs and total comprehensive income
is Rs(64.05)Lakhs for the year ended 31“ March, 2018 as considered in the consolidated
financial results. This annual financial statements and other financial information have been
audited by other auditors whose report have been furnished to us, and our opinion on the
consolidated financial results to the extent they have been derived from such annual financial
statements is based solely on the report of such other auditors
Our opinion on the consolidated financial results is not modified in respect ofthe above matters
with regards to our reliance on the work done and the reports of the other auditors.
In our opinion and to the best of our information and according to the explanations given to us
and based on the consideration of the report of the other auditors on separate financial
statement and other financial information of Associate this consolidated annual financial
results:
(i) are presented in accordance With the requirements of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular
No. CIR/CFD/FAC/62/2016 dated July 5. 2016 in this regard; and
a" Contd... (2)
_-2._
(ii) give a true and fair view of the consolidated net loss and consolidated total
comprehensive income and other financial information for the year ended 315‘ March,
2018.
The financial information of the Company for the corresponding year ended March 31, 2017
were reviewed by the predecessor Auditors who expressed unmodified opinion vide their
reports dated 30.05.2017. Our conclusion is not modified in respect thereof.
The audited figures of the previous financral year ended 315‘ March, 2017 has been revrsed to
make comparable in accordance to lndAS and has been audited by the present Auditors.
For LlHALA & CO.
Chartered Accountants
Firm Regd. No.315052E
I“:'
.
(RAJESH LlHALA)
(Partner)Mem. No.052138
Place: 11, Crooked Lane. Kolkata — 700 069
Dated: 30‘" May, 2018
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Notes to financial results
The above financial results have been reviewd by the Audit Committee and thereafter approved by the Board ofDirectors ot'
the Company at their respective meetings on May 30. 2018. The audit report has been filed with stock exchanges and is
available on the Company's website.
The figures for the three months ended 315t March 2018 and for the corresponding three months ended 3lst March 2017 are
the balancing figures between standalone audited figures in respect of full financial year and the published year to date
standalone figures upto the nine months ufthe respective financial year ended 3 Ist March.
The Company has adopted Indian Accounting Standards("|nd AS") from April I, 2017 and accordingly, the transition was
carried out, from the accounting principles generally accepted in India as specified under Section 133 ofthe Companies Act.2013 read with rule 7 of the Companies (Accounts) Rule, 2014 (previous GAAP). in accordance with IND AS-IUI
"
First
Time adoption of Indian Accounting Standards". Accordingly, the impact on transition has been recorded in retained
eaniings as on April I, 2016 and the periods presented have been restated, The reconciliation ofNet Profit after Tax for the
corresponding quarter and year ended March 31. 2017 between GAAP and Ind AS is as under.
Standalone
Particulars Quarter ended Year ended
31-Mar-17 SIvMaral7
Net Profit for the period (as per IGAAP) 964.76 3,547.82
Add/(less):
i) Interest expenses on Long term Borrowrngs measured at (1.28) (8.31)ainonised cost
ii) Actuarial (gain)/Ioss reclassified through Other Comprehensive (5.59) (38.93)Income
iii RemeasurementofGratuit Liabilit as per Ind AS (103.71) (103.71)iv) Depreciation and amortisation expense (0.46) (0 46)
\Q Tax impact ofabove (not) 132.06 52.40
Net Profit for the period (as per Ind AS) (A) 985.78 3,448.81Other comprehensive Income
,net of Income Tax 365 25 46
Total other comprehenswc Income, net oflncome Tax (B) 3 65 25.46
I‘otal comprehensive Income For theperiod (A+B) 989,44 3,474.27
Reconcilation between Total Equity previously reported as per Previos GAAI’ and 1nd AS as on March 31,2017 is as under
Standalone
Particulars As at March 3 I,
2017
Total Equity as on Blst March 2017 under previous Indian GAAP 23,281.80
Adjustments on account of‘
i) Measurement of financial assets at fair value throiirrh Profit at: Loss (0.02)
ii) Mcasiirino bonowinas at arnortised cost 177
iii) Deferred Tax adjustment (94.02)Total Equity as on 3151 March 2017 under Ind AS 23,189.46
The Company is dealing in one segment only i.e. Rolling of Iron dc Steel and hence separate segment is not given in
accordance with Ind AS-IOS"
Operating Segments" notified pursuant to Companies (Accounting Standards) Rules, 2015.
The Company prepares Consolidated financial statement on annual basis and the Consolidated Financial Result include the
Company‘s share ofprofit in its Associate Company.
The Board of Directors at its meeting held on 30th May, 2018 has recommended a dividend ot‘Rs. 1/» per equity share ol‘Rs,
10/- each.
Post the applicability of Goods and Service Tax (GST) with effect from lst July 2017, Revenue from operations are
disclosed net ovaS'I‘. whereas excise duty formed part ofexpenses in corresponding period/year. Accordingly, the Revenue
From operations and expenses for the quaner and year ended Slst March 2018 are not comparable with the corresponding
periods/year presented in the results.
9
10
12
P1ace:Ko1kata
Date 1 30-05-2018 ‘
i.{
Previous year/ period figures have been regrouped/rearranged, wherever necessary to make them comparable with thecurrent period figures.
The Statutory Auditors of the Company have issued an unqualified report on the Standalone and Consolidated AuditedFinancial Statements.
The Company, persuant to Regulation 33(3)(b)(i) of Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulations 2015. has opted no to additionally submit quarterly consolidated financial results forthe quarters. Accordingly, the Company has submitted only standalone financial results for the quarters. However‘ theCompany has presented annual consolidated financial results for the year ended 3lst March 2018,
Earnings per share is not annualised for the quarter ended Slst March 2018, 3151 December 2017 and 315! March 2017.
By Order ofthe Board of Directors
For Beckuy Steel Industries Ltd
Sci/-
Suresh Chand Bansal
Executive Chairman
D1N100103134
BEEKAY STEEL INDUSTRIES LTD.
Q Art ISO 9001:2008 Organisation' 3“
Registert‘rltilnte Lansdowne Towers, 4th Floor Z/lA, Sarat Base Road, Kolkata-zo
KA t : +91 33 3051 4444 (30 lines), +91 33 2283 0061, r : +91 33 2283 3322BEEe: contact©beekavsteel.com, CIN : L27106WE1931PLC033490
Ref: BSlL/RKS/DECL/BSE/l 8—19/ 08‘; Date: 3&05.21il8
141,
The SecremrygBSE Limited,
Works at:
Phiroze Jeeieebhoy Towers
Dalal Street,Munlbni — 400 001.
Dear Sir,
Scrig Code : 539018
Reg :Declaration with respect to Standalone & Consolidated Audit Report with un-
modified opinion
Pursuant to Regulation 33(3)(d) of the Securities & Exchange Board of india (Listing Obligations &
Disclosure Requirements) Regulations, 2015 and SEE] Circular No. ClR/CFD/CMD/S6/2016 dated May
27, 20l6 we hereby declare that M/s. Liliala & Co, Chartered Accountants, Statutory Auditors of the
Company have not expressed any modified opinionts) on the audit report issued along With the audited
standalone tinaintial results for the financial year ended on 3i" March, 20 l 8.
Kindly Latte the above information on record,
'l'hunlung Yet i,
Yours faithfully,
For Beckay Steel Industries Ltd.
lVV'Z ’
r‘
i lean/vii{Mukesh Clinnd Bansal)
Managing Director
DIN: 00103098
Jamshedpur
Vishakapatnam &
Chennai