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Q2FY2025 Results of Frick India Limited

Event Date: December 11, 2024

Document Summary

The document is a compilation of several reports and communications related to Frick India Limited, an ISO 9001:2015 certified company. It covers financial results, board meeting outcomes, and an independent auditor's review report.

Board Meeting Outcome (November 12, 2024)

  • The Board of Directors met on November 12, 2024, and approved the un-audited (reviewed) provisional financial statements/results along with the Cash Flow Statement for Quarter II and Six months ended September 30, 2024, for the Financial Year 2024-2025.
  • Mr. Egashira, Hiroyuki was appointed as Chief Executive Officer (CEO) of the Company w.e.f. 20-01-2025, based on the recommendation received from the NRC and approved by the Board.

Independent Auditor's Review Report

  • Lodha & Co LLP, Chartered Accountants, conducted a review of the unaudited financial results of Frick India Limited for the quarter ended September 30, 2024, and year-to-date from April 1, 2024, to September 30, 2024.
  • The review was conducted according to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and Standard on Review Engagements (SRE) 2410.
  • The management is responsible for preparing the financial statements in accordance with Indian Accounting Standard 34 (Ind AS 34) and other accounting principles.
  • The auditors concluded that nothing came to their attention that would suggest the financial statements were not prepared in accordance with applicable accounting standards or that they contained any material misstatement. They did not express an audit opinion, as a review is substantially less in scope than an audit.

Unaudited Financial Results

  • Revenue: Revenue from operations for the quarter ended September 30, 2024, was ₹8,642.48 Lakhs, and for the six months ended September 30, 2024, it was ₹17,616.94 Lakhs.
  • Profit Before Tax: Profit before tax for the quarter ended September 30, 2024, was ₹791.02 Lakhs, and for the six months ended September 30, 2024, it was ₹1,658.42 Lakhs.
  • Profit After Tax: Profit after tax for the period was ₹534.84 Lakhs and ₹1,203.49 Lakhs for the quarter and six months ended September 30, 2024, respectively.
  • Total Comprehensive Income: Total comprehensive income for the period was ₹531.85 Lakhs and ₹1,197.50 Lakhs for the quarter and six months ended September 30, 2024, respectively.
  • Earnings Per Share (EPS): Basic and Diluted EPS (not annualised) for the quarter ended September 30, 2024, was ₹89.16.
  • Assets and Liabilities: As of September 30, 2024, total assets were ₹40,994.06 Lakhs, and total equity was ₹28,545.27 Lakhs.
  • Cash Flow Statement: For the six months ended September 30, 2024, there was a net cash used in operating activities of ₹(1,596.45) Lakhs and net cash used in investing activities of ₹(747.84) Lakhs. Net cash from financing activities was ₹2,237.03 Lakhs.

Additional Information

  • The company is primarily involved in manufacturing, supplying, and executing industrial refrigeration and air conditioning systems.
  • Shareholders approved an increase in authorized share capital and the issue of bonus shares in the ratio of 9:1 through a postal ballot on September 17, 2024.
  • The Board of Directors allotted 53,99,775 equity shares on October 4, 2024, against 5,99,975 existing equity shares, increasing the issued, subscribed, and paid-up share capital to ₹599.98 Lakhs.

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