/cp-~ VADILAl ENTERPRISES LIMITED. Date: 3'd January, 2019

Size: px

Start display at page:

Download "/cp-~ VADILAl ENTERPRISES LIMITED. Date: 3'd January, 2019"

Lee Coleen Mills
5 years ago
Views:

1 Date: 3'd January, 2019 To Department of Corporate Services, BSE Limited, Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai Scrip Code: Dear Sir, Subject: Submission of limited review report along with financial results for the period ended on 30 th September, 2018 Please refer to our earlier letter dated 27 th Nove mber, 2018; by which unaudited financial results for the quarter/half year ended on 30'h September, 2018 were submitted subject to submission of limited review report. Now, the Company has received limited review report da ted 3'" January, 2019 from the statutory auditors of the Company. This limited review report has been noted/approved by the Audit Committee and the Board of Directors at their res pective meetings held on 3'd January, In view of this, we are hereby submitting the Limited review report together with the unaudited financial resu lts for the quarter/half year ended on 30 lh Sep tember, It is clarified that there is no change in the financial results as submitted today from the financial results as reported on 27th November, Please take the same on record. For VADILAL ENTERPRISES LIMITED /cp-~ DARSHAN SHAH Company Secretary & Compliance Officer VADILAl ENTERPRISES LIMITED Reg. Office: 10th Floor, Colonnade Building, Opp. Iscon Temple BRTS Bus Stand, Ambli-Bopal Road, Bopal, Ahmedabad-38001S. Ph. No.: Corporate Office: VadilalHouse, 53, Shrimali Society, Nr. Navrangpura Railwav Crossing, Navrangpura, Ahmedabad Ph. No. : id : info@vadilalgroup.com Website: vadilalicecreams.com / www. vadilalgroup.com (IN No. L51100GJ1985PLC007995

2 dhfw VADILAL ENTERPRISES LIMITED B,\"'\~Sj(j'!S'J <$" c ~: I",'P,>,i;.;s' I? ~ l-\.-~ 't\ "tdac~~~'

3 Statement of Assets and Uabilities (lit In Lakhsl Partkulars September 30, 2018 March 31, 2018 c IUnaudited Audited ASSETS Non current assets,., Propeny,Pl.Jnt and EqUIpment 5, , Cap.tal work -In-progress S7_06 '" 1<1 Other IntanSlble assels lj Idl Financ,al Assets Ii) Investments IS.24 (ii) loans S I.) /iii) Other FInancial Assets 1, , Oeferred Ta~ Assets (NeI) &4.69 In Other Non Current Asseu S.47 Total Non Current Assets 8, , Current assets I.) InVi!nlones Finanttal ASSets Ii) Trade Receivables , /iii Cash & Cash equivalents (Iiil Bank balance other than Iii) above _63 (iv)toa," <) (v) Other Financial Assets Current Ta~ Assets (Nel' Id) Other Current Assets Total Current Aueu 3, S, l Total Assets 12,4S ]10.33 EQUITY AND UABIUTIES Equity I.) Equity Share capital other EqUIty '" Total Equity llabuiue. Non current Uabllities,.) Financialli~b hties (i) BorrOWings 1, (il) Other Fmanc.al L.abil,tles 'b) Provc;lOns t7.62 Total Non current liabilities 1,606.6S 1, Current liabilitie!i,.) Financial liabilities (i) Borrowings SS5.81 (ii) Trade Payables - total outstandi"" dues of micro enterprises and small enterpnses - total ouulandlng dues of creditors other than micro enterpflses and small enterprises 1,985.8S 4, (iii) Other financial L,abilities 7, , Ib) ProVisions 214.S (0) Current Tax Li~bilitles (Net! 2S0.68,d) Olher Current Liabilities Total Current Uabilltles 10, , Total E ult ilnd Uilbilitle~ 12 4S ,310.]] 4, The ilforesald results ha~e heen rev,ewed by the Audit Committee and appfo~ed by Ihe Board of the Dlfectors at thelf meeting held on January The 5lat"tory a"ditor has carried out limited re~>ew of Financial Re!iuilS for the quarter and ha lf year ended on September 30, 2018 The Board of Directors of the Comp~ny has sought an explanation into the bus mess rationale of certain payments amounting to 't: akhs made by the Company's Manaaement. The Statutory Auditors have e~pressed qualification In respect of th,s matter In their limited re~ii!w report. In the opinion of the Board of Oirect()rs, this 's flcit hke1v 10 nave any material impact ()n the financial results ()f Ihe C()mpany. A!. the ma)()f business of the Company. e. marketjng and selh"" of lce.. (team 1\ of a sea~()nal nature. sales as well as profits durl"" Aprlltp June period afe usually "liher than July I() March period. The Company is Pfimarily en8aged in one buslnen se8ment namely Food 1I!8ment as determined by tile Ch>ef Operat'ng DeCISIOn Maker in accordance WIth INOAS los Operatlng Segment" Corresponding figurer. of the prev,()us period nave been re-g((luped I re calsslfll!d, wherever necessary. OJace,Ahmedabad Dale January 03, 2019 /lorj'jilaf/;prises UM 0\ I~~~ANDHI CHAIRMAN ~4 ~B";';, ~ ~Llf' ( " 'i ~~~

4 Deloitte Haskins & Sells LLP Chartered Accountants 19'" Floor, Shapath 4 V S G Highway Ahmedabad Gujarat, India Tel: Fax: INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF VADILAL ENTERPRISES LIMITED 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of VADILAL ENTERPRISES LIMITED ("the Company"), for the quarter and half year ended September 30, 2018 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed 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 issue a report on the Statement based on our review. 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion. 3. We draw attention to Note 2 of the Statement regarding an explanation which has been sought by the Board of Directors of the Company into the business rationale of certain payments made by the Company's Management. Pending completion of the inquiry we are unable to conclude on any adjustments that may be required to this Statement and the possible effects, if any, of any other consequential matters that may arise pursuant to the conclusion of the said matter on the financial results or operations of the Company. Page 1 of 2 Regd. Office: Indiabulls Finance Centre, Tower 3, 2r" '1d Floor. Senapati Bapa: Marg. Elphinstone Road (West), Mumbai , Maharashtra, India. (LLP Identification No. AAB-8737)

5 Deloitte Haskins" Sells LLP 4. Based on our review conducted as stated above and except for the possible effects of the matter described in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement. For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No W/W ) Ahmedabad, January.1, 2019 Kartikeya Raval Partner (Membership No ) Page 2 of 2

HaSklns & sells LLP. DeIOItte. Balakrisbnan Partner W/W ) (M ship No ) Hyderabad, August 14, 2018

HaSklns & sells LLP. DeIOItte. Balakrisbnan Partner W/W ) (M ship No ) Hyderabad, August 14, 2018 "' 32 1 500 DeIOItte HaSklns & sells LLP Chartered Accountants KRB Towers, Plot No.1 to 4 & 4A - 1, 2"d & 3"1 Floor Jubilee Enclave, Madhapur Hyderabad 081 Telangana, India Tel: +91 40 7125 3600 Fax: +91