(ltl/ f/nsei os‘i’i’j'qnezois’ · castex technologies limited (formerly known as amtek...

CASTEX TECHNOLOGIES LIMITED(Formerly Known As AMTEK INDIA LIMITED)

Corporate Office: 3 LSC Pamposh Enclave, Greater Kailash-I, New Delhi—110048

Tel : +91-11-42344444 Fax : +91-11-42344400

E-mail : [email protected] Web : wwwamtekcom

CIN : L65921HR1983PLC033789

REF No. (LTL/ 83 F/NSE I 2018-I9 OS‘I’I’J'qneZOIS’The Bombay Stock Exchange Limited The National Stock Exchange of India Limited,

Listing Department “Exchange Plaza”,

Phiroze Ice Ice Bhoy Towers, 5th Floor, Plot No. C/ 1, G-Block, Bandra — Kurla

Dalal Street, Mumbai — 400001 Complex, Bandra (E), Mumbai-400051

Scrip code: 532282 Scrip code: CASTEXTECH

Subject: Audited Standalone and Consolidated Financial Results for the Quarter and Year

ended March 31, 2018

In continuation and in reference to the letter dated May 30th, 2018, and pursuant to regulatiOn 33

and other applicable provisions of the Securities and Exchange Board of India (Listing

Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Audited

Standalone and Consolidated Financial Results for the Quarter and Year ended March 31, 2018.

The Audited Standalone and Consolidated Financial Results enclosed herewith have been

prepared by the management of the company and certified by Mr. Sanjay Arora, Whole Time

Director of the Company.

The Meeting for approval of Audited Standalone and Consolidated Financial Results was

commenced at 05:30 P.M and concluded at 635 P.M.

In terms of applicable provisions of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2017, the results are also being published in the newspaper.

You are requested to take the above information on record.

Thanking you,

Yours faithfully,

Issued with Approval of Mr. Dinkar Tiruvannadapuram Venkatasubramanian

(Resolution Professional)1P Registration no. IBBI/IPA-OO1/IP-P00003/20l6-1 7/10011

Regd. Office :

Village Narsinghpur 'Mohammadpur,Old Manesar Road Gurgaon,Haryana -1 23106

Tel. : +91-124—2373406

Fax : +91-124-2373028

E-mail: [email protected] : wwwamteksom


coipome Office: 3 LSC Pamposh Enclave, 6mm Knilnsh-I, New Delhi-110043Tel: +91-11-42344444 Fax: +91—11-42344400

E-mail : [email protected] Web : mamtekcom

CIN : L65921HRl983PLC033789

CASTEX TECHMLOQIES LIMITED

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Employee Imam: Expuue 1,658 1,815 1,539 6,375 8,424 6,375 3,420mCom [1.667) 22,101 10,390 64,235 00,506 64,235 30,506Modular! I Amomuflon Expunsu 12,877 l3“ 13.025 47.433 52,651 47,483 52,651om: Expenus 4,550

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(39.179) (1011—70) ($9509)- (10‘393) (1.1.610)

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to profit or has

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[15,312) 169,447 41,957 212,93519 Burning p01 Ihm M continuing nperatloml

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W103: Nunhghpur Mohunnndpw,01d Mane-u Rood GumHay-m 411106

Tel. l +91-124<2373406

Fix : ”1424-2373028

B-mnil: aiLgpfl-mmkmWeb : mmnkaom

Notes to financial results:

1

10

12

13

A corporate Insolvency resolution process ('CiRP") has been initiated against Caster Technologies Limited ['the Company') Vlde an order or

Chandigarh bench of the National Company Law Tribunal lNCLT) dated December 20, 2017 under the provisions of the insolvency and bankruptcycode 2016 (Codeis Pursuant to the order, the power of the Board of directors stands suspended and are exercisable by Mr Dinkar T,

Venkatasubramanlan, who was appointed as interim resolution professional (lit?) by the NCLT vide order dated December 22, 2017 and was

consequently confirmed as Resolution Professional (RP! by the Committee of Creditors (CoCi in its meeting held on January 12, 2018. The membersof the CoC (vide the meeting held 18 May 2013) authorised HP to file an application to NCL’i for extension of CIRP period by 90 days (i.e. from 180days to 270 days) as per the Code.

As the powers of the Board of Directors have been suspended, the above result have not been adopted by the Board of Directors However, thesame have been signed by Mr Sanjay Arora, Whole time Director of the Company.

As the Company is under CIRP, the financial statements have been presented on a ‘going concern‘ basis, Under CIRP, Resolution Plan submitted bythe prospective Resolution Applicants needs to be presented to and approved by the CDC Thereafter, the Resolution Plan approved by the Catwill need to be approved by NCJ to keep the company as a going concern Currently. the RP / CDC is in the process of considering the ResolutionPlanlsl received from the Resolution applicantis) for potential revival of the company and carrying out various compiiances as required under theCode

in terms of sections 25(2iic) and 28(1i(al oilBC 2016, the CoC has approved the raising of interim finance in its meeting held on 12th March, 2018,Accordingly, the Company has entered into an agreement with ECL Finance Limited, a Mumbai based subsidiary Company of Edelweiss FinancialServices Limited and availed interim iinance facility upto iNR 30,00,00,000 (Rupees Thirty Crores) under the Facility Agreement dated 11”, April,2018,

Considering tne current operating levels of the Company, and the ongomg CIRP it is not possible to determine:a. impairment, if any, in the economic value of the fixed assets, capital work in progress and tools & dies;b. Diminution, ii any, in the value of investments.

As per the Code the RP has to receive, collate and all the claims submitted bythe creditors of the company Such claims can be admitted to the RPduring the CIRP, till the approval of a resolution plan by the C00 The RF is still in the process of collatting and verifying such claims as and whenthey are received and shall subsequently admit such verified claims against the company as per Code. Pending finalisation of resolution plan. theimpact of such claims it any that may also has not been considered in the preparation of the financial statements Further, interest on the financialdebt from the date of commencement of CIRP (Le. from ZOth December 2017 till 31 March 2018) has not been provided in the books of accountsand charged to the Profit and Loss account

Trade receivables, loans it advances and other recoverable at March 31, 2018, which also includes balances from the group entities, are subject to

confirrnatlon/reconciliation

The company is in the business of manufacturing steel products and hence has only one reportatble operating segment as per ind AS 108

"operating segments"

Considering the ongoing corporate insolvency resolution process (as mentioned in note 1 Bi 2), the uncartainity as to the realisation of unused tax 1losses and MAT credit available cannot be ascertained at this stage. Consequently, adjustments to detered tax (net) & MAT credit available havenot been given effect to, during the period. Further, deferred tax asset (net) for the year ended 31 MarCh 2018 has not been recognised in thebooks of amounts.

The Exceptional items for the financlai year ended March Slst, 201i! comprises provision of diminution in value of certain investments, provisionfor bad 8. doubtful debts I advances, adjustments due to carrying cost of aged/ unusable inventoryThe tonsolidated financials of the company include financials pertaining to it's overseas subsidiary (held for sale), seven associate companies and a -

yin \I venture company. It may be noted triat that the RP of the Company has no control] access over] to the entities, which have been,unsoiidated. The accounts of the overseas subsidiary and joint venture company are unaudited and have been considered on the basis ofcertification by the management 01 the entities being consolidated.

Amtek Global ;echnologles Pte Limited (‘AGT'), in which the overseas subsidiary of the Company (Le Amtek Kuepper Granl holds stake, is under

receivership in Singapore and receiver has been appointed Since the latest financial results for 31 March 2018 were not available] accessible tothe overseas subsidiary, the investment in AGT held by Amtelt Kuepper GmbH, has been valued based on the financial statements for 31 March2017 for AGT,

The figures for the quarter ended Slst March 2018 and 2017 are the balancing figures between the Audited figures in respect of full financial yearand polished year to date figures uplo third quarter of the reievent financial year.Previous period figures have been regrouped/rearranged wherever oonsldered necessary to make them comparable with current period,

For CASTEX “(HMOLOGIE

Date: 5th June 201!

Place: New Delhi

{343.375.3313.'

ECHNQLQGEES LiMiTEEE(Formerly Known As AMTEK INDIA LIMITED)

Corporate Office: 3 I .SC Pamposh Enclave, Greater Kailash-I, New Delhi-110048

Tel: +91—11-42344444 Fax: +91-11-423444(Xl

E-mail : [email protected] Web : wwamnekxom

CIN : L65921HR1983PIL033789

mTECHNOLOGIES LIMITED

mmo! Standalone and Condldabed Audit“ Financial ms for the matter and year ended 3191‘hInarch, 2019

[Ilium-1. ln "um"

Plnklulars I 51mm":.

(00501104750As at 31.03.2010 I» u 31.03.2017I As at 31.03.2018

. .As .1 31.03.2017

'1 IASSETS F l 1

1 [um-cmAm

'

(I) Property, Plant and Equipment 552,332.91I

519,925.26 552,332.91'

51932517

(b) (2an work-ln-progress 1,055 .93 1 71,317.46 1,055.93 71,317.45

MC) W 1

Investment 56,435.18 | 56,335.16 ! 56,416.10 55,917.11

Other flnanclal assets 526.74 499.57 526.74 499 57

5(6) Deferred Tax Assets (net) 42,524.73 42,524.78 42,524.78 42524.73

' (e) Other Non~current Assets 55,025.87 54,562.07 _

44,911.50 32,910.13

1 Sub TotaHon-Current Assets 707,901.40 745,664.30.

697,707.97 123,994.31

2 CWM

| I

Hal lnventarles 26,695.67 52,906.75 26,695.67 52,905.75

11b) W l'. Investments 49.91 5. 45.09

149.91 4539

Trade Recelvables 36,536.55'

33,837.62 36,536.55 33,837.62

1 Cash and Lash Equivalents 1,740.41 1,093.80 I 1,740.41 1,093.30

' Other Current Flnanclal Assets 130.95 268.64 130.95 268.64

ilcl Current fax Assets (Net) 4,319.14 4,212.63 | 4,319.14 4.21253

.(0) Other Current Assets 11,638.75

.' 54,215.10 [ 1,638.75 54,215.75

Sub TMWM.

71,111.39 1“6.5.1.2!

'171,111.39

I14631.29

ainssets held 107 Sale E 70.51523.

80,373.68

1 TOYAL—ASSEI'S 779,012.73 j 091,145.59 I 939,395.50_

950,949.29

l.

III]? mum momums'

1.!qulty !

‘(al Equltv Share Capltal I7,562 46 7,562.46 7,562.46 | 7,562.46

1(0) Other Equity 41,015.67I

169,447.28 I 41,956.91I

222,935.02

Sub rot-Lam I 4,453.21.

177,000.74 49,519.37 130,491.40

211thqu .

Mon-Current Unblnllu

Ila) In I

Borrowlnas 1,271.23 1,130.84 1,271.23 1,130.34

.(0) De‘lerred Tax Llablllties (Net) l .

‘(cl Provlslons 2,702.44 . 2,649.08 , 2,702.44 2,649.08

i(d) Other Nan-Current Uahllltles 12,170.32 12,173.32 12,178.32'

12.17932I

3 Sub Total-Nun—Currem Uehllllhs 16,152.“)I

15,958.24 : 16,152.m 15.95.15

lumenmm

ila) r- l L Ill .

' Borrowlngs 141,812.42 129,157.27 141,812.42'

129,157.28

Trade Payable:I

I(I) Total outstanding dues of Mlcro enterprises

81 small enterprises 190.41 . 190.41

(ll) Total outstanding dues other than Mlcro

enlerprlses a small enterprlses 10,485.03 3 11,010.18 10,485.04 11,010.18

(0) Other Flnanclal Liabilities 604,018.31 1 554,244.64 604,018.31 554,244.64

(0) Other Current Liabllltles'

I9,976.35 1 4,651.17 9,976.34

-

4,651.17

I44) Provcslons 21.09 | 23.94 21.119 1 23,94

lle) Current 1311 Llabillties (Netl ‘5

Sub rum-Comm LlahllltlosI

76631400 699,277.61.

‘155,314.00 'I 699,277.62

1 unmmu mu for sale :1.410.21

.5,215.94

I TO‘I'AL EQUITY AND WUTIES

I779,012.79

.

832,245.59 ] 039,395.50 . 950,969.23

1 '_

‘Wmmonnfihlmanm'hmmmI

_

‘—

Date: 5th lune 2018

Place: New Delhl

Han-am dBIOlS

Tel. : 191-124—2373“

Pu : +9l-124-2373028

E-mell: [email protected] :wwmmkoom

CARAJ GUPTA & C0. Admm off.549/10. huth tower

ha r A n It New Fountain Chownk ‘

““130 Off' 3049/1 SECTOR 38-0 Ctvd mesl Ludhtnnu 141001

’«hand'garh 160036 Delhi othco 487/36. Nntmnal Mmtnt

9hcne(016l)24300899815643637 2"" Floor, PeeraGurhtl

New Dclhu 11008 I

E matlicorquuptocosgmad com

www car-muptnco com

INDEPENDENI‘ MIDI [ORN' RH‘ORI'

[()

the Members 01'

(ASH X H-('||N()l.()(i|l‘8 I.lMll'l'|)

We the Stututmv Audutow ul‘ the (‘unnnnn htnc ttndnud and It.‘\lt.‘\\t.‘d thc :Iwmnpunxtng

xtntcmcnt nt' Stnndalonc nndncd t'tnttncml le‘tllh nl‘M “ (‘.-\.\' l‘l‘X l‘l-‘(‘HNOI (Kill-SI IMI II I) I‘m

the financial vent cndcd th Murch‘ .‘MIK hcntu suhnnttut In thc cnntpunx puunttnt to thv

rcqnltctltclttx‘ nl' Regulation N 0|" the SH“ (l Istlng Obligations" and Duschwutv Rutnntvnwntx)Revulmtnm. ZUI ‘. as IllOdIfIL‘d In ('ncnlnt Nn (‘IR (TI) l":\(‘ 02 IUIU dtttcd .lnl\ V .‘Ulh

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[Vt l I') dttlcd Decentth I”. 20l7 nndct lhc ptmtstuns of the Insnlwnu ttnd hanktnt‘tn unit :01

(( ‘mlct l’ntstntnt In the urdct. the pmwt ut‘tho "mud nl‘dncctnrs \‘lttlth‘ suspend“! .tltd :nc L‘\\‘l\‘l\:|l\lc |

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O\RAJ GUPTA 8. CO.

ghgggred Accountant;Head Off: 3049/1 SECTOR 38-0

Chandigarh 160036

Phone(0161)24300899815643637

Admin off1549/10, Sutlej Tower

Near Fountain Chownk ,

Civil Lines, Ludhiana-141001Delhi office.487/36, National Market,

Z"d Floor, PeeroGar'hi,

New Delhi—110087

E-mail:[email protected] carajguptacocom

This Statement. “lllch is the responsibility of the company's management, has been compiled from tl

med standalone t'inancml statements which has been prepared in accordance With the Indian Accountir

Standards (liidAS) prescribed under section I33 ot‘the CompaniesAct, 2013 ("the Act") read With releyai

rules issued there under and other accounting prinCiples generally accepted in India Our responSIbility is i

express an opinion on the Statements based on our audit of such standalone lnd AS finanCi

statementsmade by the management

rel

We conducted our audit in accordance With the Standards on Auditing issued by the Institute ofthe

Chartered Accountants of India. Those Standards require that we comply wtth ethical requirements

and plan and perform the audit to obtain reasonable assurance about whether the statement IS free

from material misstatement

An audit INVOlVeS performing procedures to obtain audit evtdence 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

In making those risk assessments the auditor conSIders internal finanCIal control relevant to the

Company‘s preparationof the statement that give a true and fair View in order to design audit

procedures that are appropriate in the Circumstances An audit also includes evaluating the

appropriatenessof the accounting pOlICleS used and the reasonableness of the accounting estimates

as well as etaluating the overall presentation ofthe statement.

We believe that. the audit ewdence. we have obtained IS sufficrent and appropriate to provrde a

basrs for our audit opinion on the statements

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

the statement

\(i: :27)


RAJ GUPTA 8: CO.Admin off1549/10, Sutlej Tower

WNear Fountain Chownk ,

Head Off: 30“" SECTOR 3843CMI Lines, Ludhiana-141001

Delhi office 487/36, National Market,

Chandigarh. 160036

Phone(0161)24300899815643637

(I)

(n)

2"‘1 Floor, PeeraGor‘hr,

New Delhi-110087

E—mail:carajguptaco@gmailcomwww carajguplacocom

Is presented tn accordance mm the requrrements of Regulation 33 of the SEBl (Ltstlng

()bhgatlon and Dtsclosure Requirements) Regulatlon. 2015. as modrfied by Circular

No (‘IR (‘FD'FAC ()2 20H) dated July 5. 20K) and

nd tatr new In confonmty wrth the aforesaid lndran Accounting Standards

d tn Indra of the total comprehensrye Income and

he year ended March 3| .20l8

gnes a true a

and other pnncrples generally accepte

other mfomtatlon ofthe company fort

2 Emphasis of Matter

We dram anentron to the followrng

(I) The Company has been continuously maktng lossest consequently lIS net worth IS negatwe

and the Company‘s total llabllllles exceeded Its total assets Thts lndtcates the exrstence of

maternal uncertainty that may cast Significant doubt on the Company's ablllty to conttnue as :

gmng concern Howexer. In new ofthe Corporate Insolvency Resolution Process in respect

ofthe Company. which Is In progress. the accounts have been prepared on a gomg concern

basls [Refer Note I and 2 to financral results].


C/\RAJ GUPTA & C0. Admin off1549/10, Surlej Tower

Chartered Accountants Near Fountain Chownk ,

Head Off: 3049/1 SECTOR 38-0 Civil Lines, Ludhiana-141001

Chandigarh. 160036 Delhi office 487/36. National Market.

Phone(0161)2430089,9815643637 2"d Floor, PeeraGar‘hi,

New Delhi-110087

E-mciil:[email protected] com

(11) As mentioned in note 4. conSidering the current operating levels of the Company. and the

ongorng ClRP process the company has not consrdered

a Impairment. if any, in the economic value of the fixed assets, Capital Work In

Progress and Tools & Dies

b Diminution. ifany. in the value ol‘imestments

(iii) In respect ofvarious claims submitted by the financral. operational & other creditors

of the Company to the RP pursuant to Insolvency and Bankruptcy Code, 2016, that

are currently under consideration / verification/ reconciliation Pending finalisation

of resolution plan. we are unable to comment on the consequential impact. if any. on

the accompanying statement [Refer Note 5 to financial results];

try) Trade receivables, loans & advances and other recoverable at March 31, 2018, which

also includes balances from the group entities, are subject to

confinnation/reconciliation [Refer Note 6 to financial results].

(v) Consequently‘ all the points mentioned in 6(a) to 6(d) will be addressed in the

financral statements once the C [RF is complete and the resolution plan‘ if any,

proposed by the resolution applicant, is approved/ disapproved by the Committee of

Creditors and the NCLT during the ClRP period

3 The comparative financial information of the Company for the quarter and year ended March

3 l. 20l7. included in these standalone financial results. have been audited by the predecessor

auditor The report of the predecessor auditor on the comparative financral information datedl 0

June 20l7 expressed an unmodified opinion except for slow/ non-moving stock.


CARAJ GUPTA 8: Got Admm offt549/10 Sutlej Tower

Chartered Accountants Near Fountom Chownk

Head Off' 3049/1 SECTOR 38-0 Cm! Lmes Ludhiana-141001

Chandtgarh 1500365 Delhi office 487/36 Nattonal Market

Phone(016024300899815643637 2”: Floor, PeeraGar‘hr,

New Delht'110087

E-mail:car‘anup’mco@gmarl com

www carajguptaco com

4 Further. read wth paragraph abme. we report that the figures for the quarter ended March 3 |.

ZOIS represent the demed figures between lhe audited figures In respect of the finanCIal year

ended March 31. 20] 8 and the publtshed year-to»date figures up to December 3L ZUI 7. being

the date ofthe end ofthe [hll‘d quarter ot‘ the current financtal vear Which were subjected to a

ltmtted rex 1e“ as required under the Regulation and the ('trcular

For RAJ GU PTA & (‘0

CHARTERED ACCOU 'T-\NTS

gt-(GUNJANDEEP SINGH)

Partner

Membership No. 529555

PLACE New Delht

DATFD ()5 ()6 2(1l8


iC/ViiAJ GUPT

Chartered AACSUES. Admin offz549/io, Sutlej Tower

Head Off- 3049

ntNear Fountain Chownk

,

Chandi a.rh 16l1SECTOR 38-0

Civil Lines Ludhiana-141001

ph

9 , 0036Delhi office 487/36, National Market.one(016l)2430089,9815643637 2"d Floor, PeeraGarhi

To

New Delhi—110087

E-mai'l:car‘[email protected] carajguptacovcom

INDEPENDENT AUDITORS' REPORT

The Members of

CASTEX TECHNOLOGIES LIMITED

Id

We. the Statutory Auditors. ofthe Company have audited and renewed the accompanyingstatement of consolidated audited finanCIal results of M/s CASTEX TECHNOLOGIESLIMITED (‘the holding Company or the Company'). its overseas subSidiary (held for sale).its assomates and joint venture. which comprise the consolidated balance sheet as at March3]. 20l8 and the consolidated statement of profit & loss (Including other comprehensweincome) for the year ended March 3|, 20l8 (‘the statement'), being submitted by thecompany pursuant to the requirements of Regulation 33 ofthe SEBI (Listing Obligations andDisclosure Requnements) Regulations, 20l5, as modified by Circular NoCIR‘CFD'FAC/éiZ/ZOI 6 dated July 5, 20l6

A corporate insolvency resolution process (“CIRP”) has been initiated against CastexTechnologies Limited ('the Company') Vlde an order of Chandigarh bench of the NationalCompany Law Tribunal (NCLT) dated December 20, 20l7 under the proyisions of theinsolvency and bankruptcy code 20l6 (Codelv Pursuant to the order. the power ofthe Board ofdirectors stands suspended and are exercisable by Mr Dinkar T Venkatasubramanian. whowas appomted as interim resolution professional (IRP) by the NCLT Vide order datedDecember 22. 20l7 and was consequently confirmed as Resolution Professional (RP) by theCommittee ofCreditors (CoC) in its meeting held on January l2, 20l8


(7\RAJ GUPTA 8: C0. Admin off:549/10, Sutlej Tower

Chartered Accountants Near Fountain Chownk,

Head Off: 3049/1 SECTOR 38-0 Civrl Lines, Ludhiana-141001

Chandigarh. 160036 Delhi office 487/36, National Market,

Phone(0161)24300899815643637 2"“ Floor, PeeraGor‘hi,

New Delhi-110087

E-mailzcarajguptaco@gmailcomwww carajguptaco com

The consolidated t'inanc‘ial results in the Statement Include the results of the Holding

Company its 0\ erseas SlleldlaBt its assocuites and iomt \enture This StatenienL which is the

feSpOnSlbllll) of the Company's Management and has been signed by Mr Sanjay Arorat

Whole Time Director oftlie Company and has been compiled from the related standalone and

consolidated financml statements \\thh has been prepared in accordance With the Indian

Accounting Standards (lnd AS) prescribed under section l33 ot‘tlie Companies Act, 20l 3("the

Act") read \uth rele\ant rules issued there under and other accounting prinCIples generally

accepted in India Our responsibility is to express an opinion on the Statements based on our

audit of such consolidated lnd AS finanCial statements

3 We conducted our audit in accordance wth the Standards on Auditing issued by the Institute

of the Chartered Accountants of India Those Standards require that we comply wrth ethical

requirements and plan and perform the audit to obtain reasonable assurance about whether

the statement is free from material misstatement

An audit in\ ohes perfomting procedures to obtain audit CVldeHCe about the amounts and the

disclosures in the statement The procedures selected depend on the auditor‘s Judgment

Including the assessment ofthe risks of material misstatement of the statement, whether due to

fraud on error In making those risk assessments, the auditor ConSiders internal finanCIal control

rele\ ant to the Company‘s preparation ofthe statement that gtie a true arid fair we“ in order to

desrgn audit procedures that are appropriate in the Circumstances

An audit also includes e\aluating the appropriateness of the accounting policies used and the

reasonableness ofthe accounting estimates. as well as exaluating the overall presentation ot‘the

statement

We belieie that the audit etidence we haie obtained is sufficient and appropriate to pr0\ ide a

baSIS for our audit opinion on the statement


RAJ GUPTA 8i CO. Admin Off1549/10, Suflej Tower

Chartered Accountants Near Fountain Chownk ,

Head Off. 3049/1 SECTOR 38-0 Civil Lines, Ludhiana-141001

Chandigarh, 160036 Delhi office 487/36, National Market.

Phone(0161)Z430089,9815643637 2"d Floor, PeeraGarhi,

New Delhi-110087

E—[email protected] caraiguptaco com

4 In our Opinion and to best ofour information and according to the explanations gnen to us. and

based on the c0i151deration ot‘the report ofthe other auditor on the separate finanual statements

and the other financml inlomiation of the merseas subsidiary iomt \enture referred to in

Paragraph 6 below. the statement

(i) includes the result ofthe followmby

Overseas Subsidiary:l AmtekKuepper GmbH

Joint Venture:

3 Amtek Riken Casting PVI Ltd

Associate:

Terrasoft lnfosystems Private Limited

Aaron Steel & Alloys PVI Ltd

Asta Motorcycles and Scooter India Ltd

Blaze Spare Parts Pvt Ltd

Domain Steel & Alloys th Ltd

Gagan Deep Steel & Alloys Pvt Ltd

NeelMani Engine Components P\t LtdomuOv-Awed in accordance With the requirements of Regulation 33 of the SEBI (Listing

(ii) is presentRegulations. ZUI 5‘ as modified by Circular No

Obligation and Disclosure Requuements)

(‘lR (‘FDi PAC/620016 dated July 520”). and

gIVCS a true and fair View ol‘the total comprehensne income and other information of the

(iii)

group for the year ended March 3| .ZUIS


C/\RAJ GUPTA 8. CO. Admin off:549/10, Suflej Tower

Chartered Accountants Near Fountain Chownk .

Head Off: 3049/1 SECTOR 380 Civrl Lines, Ludhiana-141001

Chandigarh. 160036 Delhi office 487/36. National Market

Phone(0161)2430089,9815643637 2"“ Floor, PeeraGarhi,

New Delhi-110087

E-marlzcarajguptaco@gmai[comwww carajguptacocom

5 The consolidated IND AS t'inancral resultsstatements also includes the holding Company's share

of

I Net loss of Rs l U] lakhs for the year ended March 3L 3018 in its associates and JOIN

\enture.

rr Loss from discontinued operations of Rs 520 ()0 Iakhs in its oxerseas subsrdrary which is

held for sale and forming part of total comprehensne Income [Refer note ll of the

financral results]

6 The financral statements ofthe ox erseas subsrdiary and Jornt \enture are unaudited and has been

consrdered on the basrs ofcertit'rcatron by the Management ofthese entities Further. the financral

statement of its assocrates haxe been audited by other audrtors and has been relied upon

Our opinion on the statement Is not modified in respect ofthe above matter With respect to our

reliance on the work done and the reports of the other auditors

"

Emphasis of Matter

We draw attention to the following

i) The (‘ompany has been continuously making losses. consequently its net worth is

negatrte and the Company‘s total liabilities exceeded its total assets This indicates the

exrstence of maternal uncertainty that may cast Significant doubt on the Company‘s

ability to continue as a gorng concern Howeter. in \ ie\\ ol‘the Corporate Insolvency

Resolution Process in respect ofthe Company, which is in progress the accounts hate

been prepared on a going concern basis [Refer Note I and 2 to financial results],


C/\RAJ GUPTA & CO.

Chartered Accountants

Head Off: 3049/1 SECTOR 3w

Chandigarh, 160036

Phone(0161)24300899815643637

Admin off1549/10, Sutlej Tower

Near Fountain Chownk ,

Civil Lines, Ludhiana—141001

Delhr office 487/36, National Market.

2"(1 Floor, PeeraGarhi,

New Delhi-110087

E-mail:[email protected]

d In note 4. consrdertng the current operating ley els ofthe Company. and the

company has not conSIdered

he economic value ofthe fixed as

Ii) As mentlone

ongorng ClRP process the

a lmpainnent. rfany. m t

Progress and Tools & Dues

b. Drminutron. deny. m the value ofrnvestments.

sets. Capital Work In

f \anous clalms submlrted by the financral. operatlonal & other

creditors ofthe Company to the RP pursuant to lnsolyency and Bankruptcy Code.

20l6. that are currently under consrderatron / verrficatron/ reconciliation. Pending

finaltsatron of resolution plan. we are unable to comment on the consequenttal

Impact. if any. on the accompanying statement [Refer Note 5 to financtal results].

m) In respect 0

lvables. loans & advances and other recoverable at March 3 l. 20l8,

includes balances from the group entities. are subject to

6 to financtal results].

n) Trade rece

Wthh also

confirmation/reconcrlration [Refer Note

mentroned m 6(a) to 6(d) will be addressed in the

financral statements once the CIRP 15 complete and the resolutlon plan. if any.

proposed by the resolution applicant. IS approved/ disapproved by the

Commrttee ofCredItors and the NCLT during the ClRP penod

x) Consequently. all the pomts


C/\RAJ GUPTA 8- CO‘ Admin off 549/10, SutleJ Tower

ghartered Accountants Near Fountain Chownk

Head Off. 304911 SECTOR 38-0 erl Lines, Ludhiana-141001

Chandigarh 160036 Delhi office 487/36 National Market

Phone(0161)24300899815643637 2’” Floor, PeeraGarhi,

New Delht«110087

E-marl:ccr'ajguptaco@gmail com

www carajguptaco com

8 Further read mth paragraph I ubme we report that the figures for the quarter ended March

ll_ Itll 8 represent the derned figures between the audited figures In respect of the financial

war ended March H. 20l8 and the published year-tu-date Figures up to December 3| 2t)l7_

being the date of the end of the third quarter of the current finanCIal year‘ which were

subjected to a limited re\ l6“. as required under the Regulation and the Circular

For RAJ Gl‘PI'A & ('0CHARTERED ACCOUNT NTS

PLACE New Delhi (GUNJANDEEP SINGH)

DA TED US 00 20|8Partner

Membership No 529555



Corporate Office: 3 LSC Pamposh Enclave, Greater Kailash-I, New Delhi»110048

Tel: +91»1i—42344444 Fax: +91-11-42344400

E-mail : [email protected] Web : wwwamtckeom

CIN : L65921HR1983PLC033789

Ref: CTL/BSE/NSE/2018-19 05'" June, 2018

The Manager The Secretary

Listing Department The National Stock Exchange of India Limited,The Bombay Stock Exchange “Exchange Plaza”,

Limited, 5th Floor, Plot No. C/1, G-Block,Phiroze Jee Jee Bhoy Towers, Bandra — Kurla Complex,Dalal Street, Mumbai - 400001 Bandra (E), Mumbai-400051

BSE SECURITY CODE: 532282 NSE TRADING SYMBOL: CASTEXTECH

Sub:- Declaration with respect to unmodified opinion in the Auditor’s Report on the Annual

Financial Statements/Results under Regulation 33(3)(d) of the SEBI (LODR) Regulations,2016 for the Financial Year ended March 31, 2018

Dear Sir/Madam,

In compliance with the provision of Regulation 33(3) (d) of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015 as amended by the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2016, vide Notification no.

SEBI/LAD-NRO/GN/2016-17-001 dated May 25, 2016 and Circular No.

Cir/CFD/CMD/56/2016 dated May 27, 2016, We hereby declare that M/s Raj Gupta & Co.,

Chartered Accountants, the Statutory Auditors of the Company have issued as Audit Report

with Unmodified Opinion on the Audited Financial Statements of the Company (Standalone

& Consolidated) for the quarter and year ended March 31, 2018.

Thanking You,

Yours Faithfully

For ast x Technologies Limited

Castex Technologies Limited

Regd. Office :

Village Narsinghpur Mohammadpur,Old Manes“ Road Gurgaon,Huyana -1 B 106

Tel. : *91-124-2373406

Fax : +91-IZ4-2373028

B-rnau: [email protected] :wwwAmteImom

(ltl/ f/nsei os‘i’i’j'qnezois’ · castex technologies limited (formerly known as amtek...

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