One with the Sun - Waaree 52...Nov 12, 2020 · SGCO & Co.LLP Chartered Accountants Limited Review...
Transcript of One with the Sun - Waaree 52...Nov 12, 2020 · SGCO & Co.LLP Chartered Accountants Limited Review...
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November 12, 2020
BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai – 400001
Dear Sir/Madam,
Sub: Unaudited Financial Results for half year ended September 30, 2020 along with
Limited Review Report
Ref: Scrip Code: 957242
Board of Directors of the Company at its Meeting held on November 12, 2020 has approved
Unaudited Financial Results of the Company for the half year ended September 30, 2020 along
with Limited Review Report.
Pursuant to Regulation 52 of SEBI (Listing Obligations and Disclosure Requirement),
Regulations, 2015 (SEBI LODR), we are enclosing/furnishing the following:
a. Unaudited financial results of the Company for the half year ended September 30, 2020
together with Limited Review Report (Annexure 1).
b. Statement pursuant to regulation 52(4) of SEBI (LODR) (Annexure 2)
c. Statement pursuant to regulation 52(7) of SEBI (LODR) (Annexure 3)
Thanking you,
Yours faithfully,
For Waaree Energies Limited
Kiran Jain
Company Secretary
Encl: as above
Registered Office: 602, Westem Edge-I, Western Express Highway. Borivali (E), Mumbai - 400 06
00 l Email: [email protected] ! e Identity Number: U29248MH J 990PLC059463
One with the Sun
SGCO & Co.LLP Chartered Accountants
Limited Review R�Rort on the Unaudited Standalone Financial Results of Waaree Energies Limited for the half year ended September 30, 2020 Pursuant to the Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To Tl 11:: Boar ti uf Directors Waaree Ener�ies Limited
1. We _have reviewed lhe accompanying statement of Unaudited Standalone Financial Results ("the . .
Results") of Waaree Energies Limited ("the Company") for the half year ended September 30, 2020
("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 52 of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circulars
CIR/IMD/DF1 /9/2015 dated 27 November 2015 and CIR/IMD/DF1/69/2016 dated 10 August 2016.
This results, which are the responsibility of the Company's Management and has been approved by the
Board of Directors, have been compiled from the related financlal statements which have been prepared
in accordance wilh the Indian Accounting Standards, prescribed under section 133 of the Companies
Act, 2013, the relevant rules issued thereunder ('Ind AS') and other accounting principles generally
accepted in India. Our responsibility is to express a conclusion on the Statement based on our review of
the financial statements.
2. We conducted our review in accordance with the Standards on Review EngagP.ment .. (SRF) 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.
3. 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.
4A, Kaledonia, 2"d Floor, Sahar Road, Near Andheri Station, Andhen (l::.ast), Mumbai - 400 069
Tel. +91 22 6625 6363 Fax. +91 22 6625 6364 E-mail. [email protected].,n www.sgco.co.\n
Mumbai • Delhi
SGCO&CO.LLP Chartered Accountants
4. Based on review conducted as above, nothing has come to our attention that causes us to believe that
the accompanying statement, prepared in accordance with the requirement of Regulation 52 of the SEBI
(Listing Obligations and Disclosure Requirements) regulations, 2015, read with SEBI Circular No.
CIR/IMD/DF1/9/2015 dated 27 November 2015 and CIR/IMD/DF1/69/2016 dated 10 August 2016
including the manner in which it is to be disclosed, or that it contains any material misstatement.
For S G C O & Co. LLP Chartered Accountants Firm's Registration No.112081W/W100184
Sures�� I� Partner q\ � #"" :j/) Mem. No. 044739 �1�-rf'oj Ao�:,)','' UDIN: •OD 44�3� A�A'I -- 43. Place : Mumbai rl;,tP. · November 1 �, �O?O
WAAREE ENERGIES UMITED CIN : U29248MH1990PLC059463
Registered Office: 602, Western Edge- I, Western Express Highway, Borivali(East), Mumbai - 400066, Maharashtra, India Tel.: +91-22-66444444 I Fax: +91-22-66444400 I Website: www.waaree.com I Email : [email protected]
Statement of UnAudited Assets and Liabilities as at September 30, 2020 Amount in Millions
Standalone Particulars As at 30.09.2020 As at 31.03.2020
ASSETS
UnAudited Audited
A) Non-current assets a) Property, Plant and Equipment b) Capital work-in-progress c) Right to use Assets d) Investment Property e) Intangible Assets f) Financial Assets
i) Investments H} Trade receivables iii) Security Deposits iv) Other financial assets
g) Deferred tax assets (net) h) Income tax assets (net) i) Other non-current assets
B) Current assets a) Inventories b) Financial Assets
i) Current Investments ii) Trade receivables iii) Cash and cash equivalents iv) Bank balances v) Loans
vi) Other financial assets c) Other current assets
Total Assets EQUITY AND LIABILITIES EQUITY
a) Equity Share capital b) Other Equity Total Equity
LIABILITIES A) Non-current liabilities
a) Financial Liabilities i) Non-Current Borrowings ii) Lease Liabiilties iii) Other Financial Liabiilties
b) Long-term provisions c) Deferred tax liabilities (net) d) Other Long-term·Jiabilities
B} Current liabilities a) Financial Liabilities
i) Borrowings ii) Lease Liabilities ii) Trade payables iii) Other financial liabilities
b) Provisions c) Other current liabilities
Total Equity and Liabilities
737.37 809.67
276.32 299.63 3.48 3.48
47.34 49.91
1, 160.32 1,160.32 54.85 57.89 32.80 30.49
811.75 350.21 33.07 14.33 25.96 25.64 34.25 39.80
3,217.51 2,841.37
2,270.15 2,430.46
35.83 34.57 1,633.64 1,537.59
104.63 62.37 222.07 354.63 435.21 397.91 298.28 407.71 355.18 438.43
5,354.99 5,663.67
8,572.50 8,505.04
1,971.38 1,971.38 1,333.26 1,059.10 3,304.64 3,030.48
360.94 333.15 253.64 274.01
291.27 258.26
18.79 23.70 924.64 889.12
418.08 173.39 41.27 40.67
3,134.29 2,996.98 238.51 344.75 211.09 134.13 299.98 895.52
4,343.22 4,585.44
8,572.50 8,505.04
WAAREE ENERGIES LIMITED CIN: U29248MH1990PLC059463
Registered Office: 602, Western Edge- I, Western Express Highway, Borivali(East), Mumbai - 400066, Maharash1ra, India Tel.: +91-22-66444444 I Fax: +91-22-66444400 I Website: www.waaree.com I Email : [email protected]
Statement of UnAudited Financial Results for the Half year ended September 30, 2020
Standalone
S.No Particulars Half year ended
30.09.2020
Half year Half year ended ended
31.03.2020 30.09.2019
Year ended 31.03.2020
(UnAudited) (Audited) (UnAudited) (Audited)
1 Income (a) Revenue from operations (b) Other income
Total income
2 Expenses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories offinished goods, work-in-progress and stock-in trade ( d) Other manufacturing and EPC project expenses (e) Employee benefits expense (0 Sales,administralion,and other expenses (g) Finance costs (h) Depreciation and amortisation expense
Total expenses
3 Profit I {Loss) before exceptional items and tax 4 Exceptional items 5 Share of Profill(loss) of Associate 6 Profit I (Loss) from ordinary activities before tax 7 Tax expense
Current Tax Tax for earlier years Deferred Tax
8 Net Profit I (Loss) for the period 9 Add/(Less) Other comprehensive income 10 Total comprehensive income
11 Paid-up equity share capital (Face Value per share of Re. 10/-)
12 Other Equity(excluding revaluation reserve)
13 Debenture Redemption Reserve
14 Earnings per share (Basic and Diluted) (Rs.) i) basic (not annualised) ii) diluted (not annualised}
15 Ratios y;_ - (a) Debt equity ratio (in times) ;;��er ie.s, (b} Debt service coverage ratio (in times;raf'i9 < (c} Interest service coverage ratio (in time IJSli( � • 3 ) (d) Paid-up debt capital ratio (in times) � ,ff)
.,,. '<i /
v\�2:./ Page 2 of 3
8,538.19 143.91
8,682.10
5,511.80 1,152.27
58.91 257.30 243.03 857.98 103.81 133.68
8,318.78
363.32
363.32
106.60
(18.42) 275.14
(0.97) 274.17
1,971.38
1,333.26
19.00
1.39 1.39
0.30 3.20 6.82 1.00
10, 125.44 120.66
10,246.10
6,498.83 1,551.70
(181.93} 419.84 261.53 852.27 160.53 133.78
9,696.54
549.56
549.56
164.31 (12.61) (21.41) 419.28
(0.98) 418.29
1,971.38
1,059.10
58.50
2.12 2.12
0.28 2.88 6.24 1.00
10,142.40 115.95
10,258.35
8,024.85 6i5.20
(8.64) 349.47 284.37 661.24 146.91 126.31
10,199.71
58.64
58.64
28.32 4.91
(9.04) 34.44 (2.88) 31.57
1,971.38
672.62
98.00
0.16 0.16
0.37 0.99 2.42 1.00
20,267.84 236.61
20,504.45
14,523.68 2,166.90
(190.57) 769.30 545.90
1,513.51 307.44 260.09
19,896.25
608.20
608.20
192.64 (7.70)
(30.45) 453.73
(3.86) 449.86
1,971.38
1,059.10
58.50
2.28 2.28
0.28 1.97 4.51 1.00
WAAREE ENERGIES LIMITED CIN: U29248MH1990PLC059463
Registered Office: 602, Western Edge- I, Western Express Highway, Borivali(East), Mumbai - 400066, Maharashtra, India Tel.: +91-22-66444444 I Fax: +91-22-66444400 I Website: www.waaree.com I Email: [email protected]
The above unaudited financial results of the Company for the half year ended September 30, 2020 have been reviewed and recommended by the Audit Committee and approved and taken on record by the Board of Directors in their respective meetings held on November 12, 2020
2 The Statutory Auditors have carried out Limited Review of the standalone financial results of the company for the half year ended September 30, 2020. Figures for the half year ended March 31, 2020 as reported in these financial results are the balancing figures between audited figures in respect of the full financial year and reviewed but not subjected to audited figures of half year ended September 30, 2019.
3 The financials results have been prepared in accordance with Indian Accounting Standards ("Ind AS"} as notified under the Companies (Indian Accounting Standards} Rules, 2015 as specified in Section 133 of the Companies Act, 2013
4 Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker ("CODM') of the Company. As per CODM, the Company operates only in one Business Segment i.e. "Solar Photovoltaic Modules and EPC of Solar Power Plants", hence does not have any reportable Segments as per Ind AS 108 "Operating Segments" in Standalone Financial Statements of the Company.
5 Comparitive financial information of the previous year ended have been regroupped/rearranged wherever considered necessary to correspond to the figures of curre t period ended.
Place: Mumbai Date: 12th November2020
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One with the Sun
November 12, 2020
To, BSELimited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001.
Sub: Disclosure pursuant to Regulation 52( 4) of the SEBI (Listing Obligations & Disclosure Requirement) Regulations, 2015
Ref: Scrip Code: 957242 (ISIN INE377N07022)
Dear Sir/Madam,
With reference to the captioned subject please find the details as under:
1. Credit Rating assigned by lnfomerics 15.50% Secured Rated Redeemable Listed NCD Valuation and Rating Private Limited Series-II
Rating Assigned- IVR BBB-/Positive outlook (IVR Triple B Minus with Positive outlook)
2. Asset Cover available Greater than 1.0 x 3. Debt Equity Ratio 0.30 4. Particulars Previous Due Dates Next Due Date
Principal Interest Principal Interest 15.50% Secured Due date is August 1, November 1, 2020 December 10, December Rated Redeemable 2020 and its paid on and its paid on 2020 10,2020 Listed NCD Series - July 31, 2020 October 31, 2020 II
5. debt service coverage ratio 3.20 6. interest service coverage ratio 6.82 7. debenture redemption reserve 19.00
(Rs in Millions) 8. net worth (Rs in Millions) 3304.64 9. net profit after tax (Rs in Millions) 274.17 10. earnings per share 1.39
Director
WAAREE Energies Ltd. Registered Office: 602, Western Edge-I, Western Express Highway, Borivafi fEJ, Mumbai - 400 066, JNOJA. Tel: +91-22-6644 4444 I Fax: +91-22-6644 4400 I Email: [email protected]:www.waaree.com Corporate Identity Number: U29248MH J 990PLC059463
One with the Sun
November 12, 2020
BSE Limited Phiroze J eejeebhoy Towers Dalal Street Mumbai - 400001
Dear Sir/Madam,
Sub: Statement pursuant to regulation 52(7) of SEBI (Listing Obligations and Disclosure Requirement), Regulations, 2015
Ref: Scrip Code: 957242
This is to inform you that there is no material deviation in the use of proceeds of issue of non-convertible debt securities from the objects stated in the offer documents.
Thanking you,
Yours faithfully,
FOR WAAREE ENERGIES LIMITED
Hitesh Mehta Director
. ,
WAAREE Energies Ltd. Registered Office: 602, Western Edge-I. Western Express Highway. Borivali fE). Mumbai - 400 066, INDIA. Tel: +91-22-6644 44441 Fax: +91-22-6644 4400 I Email: [email protected]:www.waaree.com Corporate Identity Number: U29248MH I 990PLC059463