Off; 380015 _ 7 :24 1!; million JEWELLERY NDA LMTED ' R Plot Not 11 asola District, New Delhi 11002 DT719, 7 " Floor, DLF Tower 3,, Emaei gi' info@aklasjewelleryindiacom, Phone: 01140541077/4104 1149, Telefax Web: wwwat1asjewelleryindiacom, '_ 5 0114054123; CN: L74140DL1989 LC131 Date: November 14, 2018 lo, 135E Limited ('orporu te Relation Department l hiroze Jcejeebhoy 'l'owers Dalal Street M um be i» 400001 To, Delhi Stock Exchange Limited Mr 1'K Mishrn llead Listing :3; Compliance 3/1, Asal Ali Road New Delhi 110002 To Ahmednlutd Stock Exchange Limited The Manager 'l o, Jaipur Stock Exchange Limited The Manager Listing Department Lisling Department Kalndhenu Complex Stock Exchange Building Opp Sahajanund College JLN Marg Malviya, l anjrapnle Nagar Ahmedabad Jaipur 302017 (Gujarat) (Rujusthan) Subject: Unaudited quarterly results for the second quarter and half year ended September 30, 2018 Scrip Code: 514394 Dear Sir Please find attached the unaudited quarterly results for the second quarter and half year ended September 30 2018 duly signed by the NonExecutive Chairman of the Company in compliance with Regulation 33 ofthc SEB (Listing Obligations & Disclosure Requirements) Regulations, 2015 We also enclose a copy of the Limited Review Report of the Auditors of the Company, as required under Regulation 33 ot the 8581 (Listing Obligations & Disclosure Requirements) Regulations 2015 Hope you find the results in order Kindly take on record the same Thanking you For Jewellery ndia Limited /~A//7A//%a (Chandan Mahapatra Company Secretary & CFO Encl: Outcome of the Board Meeting Unaudited Financials for second quarter ended September 30 2018
110002 '7wéle4 4 " 15 JEWELLERY NDA LMTED Reg on; mym, 7' Floor, DLF Tower B, Plot No 11, asola District, New Email: info@atlasjewelleryindiacom, Phone: [)1140541077/41041149, Telefax geiigéfigg 11 Web: wwwatlasjewelleryindiacom, CN: L7414ODL19891 LC131289 Date: November 14, 2018 To To, To To, 3512 Limited Delhi Stock Exchange Ahmedabad Stork Jaipur Stock Exchange Limited Exchange Limited Limitcd Corporate Relation Department Mr l K Mishl'a The Manager The Manager l hirou Jeejeebhoy 'l'owers Head Listing 8; Compliance Listing Department Listing Department Dalnl Street 3/1 Asat Ali Roud Kamdhenu Complex Stock Exchange Building Mumbai 400001 New Delhi ~ ()pp thajannnd College JLN Marg Malviya l anjrapole 7 Ahmcdabad (Gujarat) 380015 Nngar Jaipur 302017 (anasthan) Subject: Outcome of the Board Meeting of the Board of Directors of the Company held on November 13, 2018 Scrip Code: 514394 Dear Sir This is to inform you that in the meeting of the Board ot director of the Company held on November 13 2018 which was adjourned and reconvened on November 14 20l8 the Board has considered and approved the unaudited financial results for the second and half year ended September 30 2018 as per 33 of the SEBl (Listing Obligations & Disclosure Requirements) Regulations, 20l5 Kindly take note oi'the aforementioned information in compliance with Regulation 30 & 33 ot the SEB (Listing Obligations & Disclosure Requirements) Regulations, 2015 Thanking you For Jewellery ndia Limited (Chandan Mahapatra) Company Secretary & CFO
? XV _ _ ~ 2668 286 W» «2668 1006545 «~ 71ue d it; milliaud JEWELLERY NDA LMTED Reg Off; DT719, 7 " Floor, DLF Tower 8, Plot No 11, asola District, New Delhi110025 Emailz info@atlasjewelleryindiacom, Phone: 01140541077/41041149, Telefax: 01140541077 Web: www2tlasiewelleryindiacom, CN: L74140DL19891 LC131289 STATEMENT OF STANDALONE UNAUDTED FNANCAL RESULTS FOR THE SECOND QUARTER AND HALF YAER ENDED 30TH SEPTEMBER 2018 R in lacs except per Share data) Quarter Ended Six Months Ended Year Ended S Particulars 30092018 30062018 30092017 30092018 30092017 31032018 No Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Revenue from Operations 5096 9433 15511 14529 32287 55609 11 Other ncome 111 Total ncome (1+11) 5096 9719 15511 14815 32287 68585 286 12976 V Expenses (a) Cost 01 Material Consumed/Purchase of 1302 1712 1496 3014 8899 28901 Stock in rade (b) (ncrease)/dcereasc in nventories 2949 5666 14550 8616 23129 33138 (c) Employee Benefits Expenses 2560 2858 2802 5418 5444 11676 (d) Foreign Exchange ((1ain)/Loss (81119) (73360) (12824) (154479) (10732) (4269) (6 ) Finance eost (t) Depreciation and amortisation expenses 1375 1344 2023 2719 4258 8140 (g) Other Expenses 3714 3893 3995 7605 11748 22906 Total Expenses (a to g) (69219) (57887) 12042 (127107) 42746 100492 V Profit/(loss) before exceptional and 74315 67606 3469 extraordinary items & tax (1V) 141922 (10459) (31907) V1 Exceptional items 2773 V Profit/(loss) before extraordinary 74315 67606 801 141922 (13127) (34680) items & tnx(vv1) V111 Extraordinary items 1X Profit/(loss) before tax (VV) 74315 67606 801 141922 (13127) (34680) X Tax expense (including deferred tax & 1335 1377 (654) 2712 1974 5265 net 01' MAT credit) X1 Profit/ (loss) for the period from the 72980 66229 1455 continuing operations after tax (XX) 139210 15101 (39945) X Profit/(loss) from discontinuing operations X Tax expense of discontinuing operations XV Profit/(loss) from discontinuing operations (after tax) (XX111) 1 XV Profit/(loss) for the period (X+XV) 72980 66229 1455 139210 15101 (39945) _Other Comprehensive ncome XV Total Comprehensive ncome for the 72980 66229 1455 139210 15101 (39945) period (XV+XV),, Paid up equity share capital (Equity 1006545 Shares or? 10 each ) XV Earnings per share (face value of?10) 1 Before& after extraordinary items 1006545 1006545 1006545 (a) Basic 073 066 001 138 (015) (040) (b) Diluted 073 066 001 138 (015) (040)
' 7mm 1, mm" Notes: (1) The above results were reviewed by the Audit Committee at its meeting held on November 13, 2018 and approved by the Board ofdirectors at its meeting held on November 14 2018 (2) The Statutory auditors of the company have carried out the limited review of the financial results for the second quarter and halfyear ended September 30, 2018 (3) The company has only one segment ofrevenue (4) With regard to Auditor s observation in point no 06 of the limited review report, the operational results are not materially affected and the affect is only on the financial position, secondly the foreign exchange gain is unrealised and not notional With regard to overseas trade receivable, loans & advances, the company has already initiated legal action/suit and sufficient documents/copies oflegal filing and other supporting have been made available to the Auditors, (5) As regards to the Loans & Advances, which is also covered in point 8(b) of the said report it is mentioned that these are old dues being GEE El Woollens Ltd (Erstwhile Company) carried forward from FY 201213 and relates to (6) Figures relating to the previous periods/year has been reclassified/rearranged wherever necessary, to conform to the current period s presentation Place: New Delhi Date: November 14, 2018 utive Chairmg rj DN: 02547619
b Capital Workln PlflgYL SS c nvestment property d Goodwull l lnvestmenls ifi 1 nvestments v Others Financial Assets c Current tin assets (nei)» d Other nuncurrent liabxllues Other linancml liabllmes if, fin,, JEWELLERY NDA LMTED 71 4 _ l? 65 0025 Reg Off; DT719, 7 " Floor, DLF Tower B, Plot No 11, asola Dishmt, New Email: info@atlasjewelleryindiacom, Phone: 01140541077/41041149, Telefax 3:20;:1077 Web: wwwatlasiewelleryindiacom, CN: L74140DL19891 LC 131289 STATEMENT OF STANDALONE UNAUD' AND HALF YEAR ENDED 30TH ' ZMBER 2018 Nt AL R ZS L S FOR THE SECOND O AR''ER S No Pnrlicllltlrs A ASSETS l Noncurrent assels (Rs in Lites) As 50091018 As at 31032018 ill Unaudited Audited a Property, planl and equipment 157 55 13051 e Ollier intangibe assets 1' lnlanglble assets under dcwiopmeni 0 ~12 0 04 3, Biological asaets other than bearer planls 11 Financial Assets :1 Loans & Advances Hi Olhers Flanclal Assels 1 Deferred up assels (nul) 99 92 105 34 49 73 49 73 135 21 138 33 ] other t:un»currcm assets 0 83 0 33 Subota] noncurrent 1mm 44366 48078 2 ( ll l t lll an : 1 nvenlonus 1,572 bl) 1,658 76 Lt b Financial Assets 11 Trade receivable; 15,05752 13512 86 111, Cash and cash equrvalents Z 13 191 w Bank balancc mhcr than cash and cash 4 29 7 53 d Olher currenl assels Sub10ml rul'relll units ' O''AL ASSETS 13 EQUTY AND LABLTES 1 Equity 30 90 35 39 16,66744 15,20850 17,11110 15,68928 a Equity share capital 10,071,15 10071 15 b Othercquity 2 Nunvturrent liabilities a h Financml liabllmes Bormwmgs 'ude puwblc: \)l )cr nuncurrent 'nmnuut ltlblllllea l ruvlsxuns 6,513 52 5,121 89 Subtotal equity 16,58467 15,19304 c [Jelérrud lax l dhllle: ncl) Subtotal Non current lluhilitils ~ 3 Current liabilities _ a Financial liabilities Trade payables 0 96 46 1) Diner currum lubliluca t: ruvtsluns t1 Curran! lax xubllmc: (New» 409 47 461 79 56 ()0 33 (10 TOTAL LABLTES Tomi current liabilities 52643 49625 52643 49625 ''U''AL EQUTY AND LABLTES 17,11110 15,68929 Place: New Delhi Date: November 14 2018 F0 Jewellery nd
' A Kay Mehra & C0 CHARTERED ACCOUNTANTS 114 (Basement), Mall Road, Kingsway Camp,sDeihi~110009 Tel No : 01142461274, 9891295255, 9818708294 Email :akmca1969@gmaiicom Website : wwwakmcain Limited Review Report To The Board of Directors Atlas Jewellery ndia Limited DTJ719, 7th Floor, DLF Tower B, Plot No 11, Jasola District, New Delhi110025 1 We have reviewed the accompanying statement of unaudited financial results ( The Statement") of Atlas Jewellery ndia Limited ("The Company ) for the quarter and half year ended September 30, 2018, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEB (Listing Obligations and 'Disclosure Requirements) Regulations, 2015, as modified by Circular No CR/CFD/FAC/62/2016 dated July 5, 2016 2 This statement is the responsibility of the Company s Management and has been approved by the Board of Directors Our responsibility is to issue a report on these financial statements based on our review 3 We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of nterim Financial nformation Performed by the ndependent Auditor of the Entity", issued by the nstitute of Chartered Accountants of ndia This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement A review is limited primarily to inquiries of company personnel and analytical procedures applied thus provide less assurance than an audit We have not performed accordingly, we do not express an audit opinion to financial data and an audit and 4 Trade Receivables include overseas debtor "M/S Satwa Precious Metals & Bullion Trading (FZE)" for Rs 1,50,57,49,829 (including foreign currency exchange gain or loss) which are outstanding for more than three years and are subject to confirmation/ adjustments Since, there have been defaults in payment obligations by the overseas debtor "M/S Satwa Precious Metals & Bullion Trading (FZE)" on due date and recoveries from this debtor are not significant, the company has initiated legal action/ suits against
Based them n view of the factors stated above and in the absence of clear forward looking information regarding outcome of pending legal action initiated and time frame of realisability of this Trade Receivable, we are unable to determine the amount of expected credit loss/ impairment based on provision matrix as per the requirements of ndas 109 "Financial nstruments" and its consequentlal impact on the financial results on the As informed to us, Reserve Bank of ndia (RB) approval is still pending application as forwarded by the AD bank on behalf of the company regarding seeking prior approval from the RB for the extension of the period of realization of the overdue export receivables (RB Delhi has given NOC and the matter is pending with RBL Kerala) n view of the factors stated above and in the absence of any clear outcome from the RB, we are unable determine possible cumulative effects on the financial results to various factors Company s operating results have been materially affected due including nonrealization of Trade receivables, notional foreign exchange gain on unsecured and doubtful overseas debtor, nonrecovery of loans and advances, reliance on cash sales for meeting out expenses, overall substantial decrease in volume of business and sales, overdue expenses payable, pending income tax demands (appeals pending before CTA) and litigation matters, etc These events cause significant doubts on the ability of the company to continue as a going concern n the absence of any convincing audit evidences and in view of multiple uncertainties as stated above we are unable to determine the possible effect on the financial results and to conclude on ability of the company to carry on as a going concern on our review, with a exception of the matters described in para 4, 5 and 6 above, where we have not been able to determine the possible effect on the financial results, nothing has come to our attention that causes us to believe that the accompanying statement prepared in accordance with applicable accounting standards (nd AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEB (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEB Circular No CR/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
8 We draw attention to: a) Valuation of nventory is based on determination of estimated net realizable value and specific identification involving technical judgment of management and which has been relied upon by us b) There are certain loans and advances amounting to Rs 99,91,500/ being carried in the books of accounts from Financial Year 201213 by the company and no provision against these amounts has been made in the books of accounts As informed by the management, company has filed petitions before the Mediation Cell of Delhi High Court for recovery of these loan and advances (Rs 5,42,500/ is already recovered from one party) c) The company has created a quarterly Provision of Rs 12,00,000/ in the matters of income tax demand for Assessment Year 201415 and 201516 d) Other ncome includes Rs 8,11,18,948/ notional foreign currency exchange gain (as per requirement of nd AS 21) due to the exchange difference of the unsecured and doubtful overseas debtor M/S Satwa Precious Metals & Bullion Trading (FZE) For A Kay Mehra & Co Chartered A Place: New Delhi Date: 14112018