Hindusthan Engineering & Industries Limited Unlisted Shares Financial Reports

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Hindusthan Engineering & Industries Limited Unlisted Shares

Financial Year: 2023

HINDUSTHAN ENGINEERING & INDUSTRIES LIMITED Consolidated Financial Statements for the period 01/04/2022 to 31/03/2023 includes the following information: **Company Information:** * Name: HINDUSTHAN ENGINEERING & INDUSTRIES LIMITED * Corporate Identity Number: U93000WB1998PLC086303 * Permanent Account Number: AAACH8505Q * Registered Office Address: MODY BUILDING, 27 SIR R N MUKHERJEE ROAD, KOLKATA, WEST BENGAL, INDIA, 700001 * Type of Industry: Commercial and Industrial * Reporting Period: 01/04/2022 to 31/03/2023 (with comparative figures from 01/04/2021 to 31/03/2022) * Nature of Report: Consolidated Financial Statements * Presentation Currency: INR (Indian Rupees) * Rounding Level: Lakhs * Cash Flow Statement Type: Indirect Method **Auditor's Report:** * Auditor Firm: S. Rastogi & Associates * Auditor Signing Report: SANJAY RASTOGI * Firm Registration Number: 318123E * Membership Number: 053823 * Auditor's Address: 42, KALI KRISHNA TAGORE STREET, 1ST FLOOR, KOLKATA-700007 * PAN of Auditor: ACWPR6946G * SRN of form ADT-1: H21384805 * Date of Audit Report and Balance Sheet Signing: 05/06/2023 * Opinion: Qualified Opinion * Key Qualifications: * Accounting of certain reliefs/concessions pending approval from authorities. * Uncertainty regarding the recoverability of Loans given, Trade Receivables & Advances, and the adequacy of provisions. * Subjudice nature of the Integrated Lignite Mining-cum-Power Generation Project implementation agreement, impacting project expenditure of Rs. 11,40.33 Lakhs. * Auditor's Responsibility: Audit conducted according to Standards on Auditing specified under Section 143(10) of the Companies Act, 2013. * Internal Financial Controls: The company has adequate internal financial control system over financial reporting. * Emphasis on Compliance: The report notes compliance with Indian Accounting Standards (Ind AS) as specified under Section 133 of the Act read with Companies (Indian Accounting Standard) rules, 2015 as amended. * Other Observations: * No pending litigations impacting financial position, except as disclosed. * No long-term contracts with foreseeable material losses. * No delays in transferring amounts to the Investor Education and Protection Fund. * Representations regarding fund advancements to intermediaries and receipts from funding parties, with no material misstatements noted based on audit procedures. * No dividend declared or paid during the year. * Audit trail (edit log) facility applicable from April 1, 2023. * UDIN:233053823BGXRBC8954 * Date of Report: 5th June, 2023 * Place: Kolkata **Balance Sheet (as of 31/03/2023, with comparative figures from 31/03/2022 and 31/03/2021):** * **Assets:** * *Non-Current Assets:* * Property, Plant, and Equipment: INR 29,445 Lakhs (previous year: INR 30,157 Lakhs) * Capital Work-in-Progress: INR 4,860 Lakhs (previous year: INR 3,237 Lakhs) * Other Intangible Assets: INR 1,426 Lakhs (previous year: INR 1,415 Lakhs) * Non-current Investments: INR 11,174 Lakhs (previous year: INR 11,174 Lakhs) * Other Non-current Financial Assets: INR 9,096 Lakhs (previous year: INR 13,940 Lakhs) * Other Non-current Assets: INR 45 Lakhs (previous year: INR 70 Lakhs) * *Current Assets:* * Inventories: INR 36,981 Lakhs (previous year: INR 24,640 Lakhs) * Current Investments: INR 15 Lakhs (previous year: INR 14 Lakhs) * Trade Receivables: INR 22,094 Lakhs (previous year: INR 17,559 Lakhs) * Cash and Cash Equivalents: INR 22,993 Lakhs (previous year: INR 13,122 Lakhs) * Loans (Current): INR 18,795 Lakhs (previous year: INR 13,252 Lakhs) * Other Current Financial Assets: INR 10,745 Lakhs (previous year: INR 12,904 Lakhs) * Current Tax Assets: INR 3,280 Lakhs (previous year: INR 3,666 Lakhs) * Other Current Assets: INR 9,699 Lakhs (previous year: INR 5,853 Lakhs) * **Equity and Liabilities:** * *Equity:* * Equity Share Capital: INR 1,470.68 Lakhs (previous year: INR 1,500.08 Lakhs) * Other Equity: INR 1,19,223 Lakhs (previous year: INR 1,12,109 Lakhs) * *Non-Current Liabilities:* * Borrowings (Non-Current): INR 0 Lakhs (previous year: INR 15 Lakhs) * Provisions (Non-Current): INR 5,726 Lakhs (previous year: INR 5,921 Lakhs) * Deferred Tax Liabilities (Net): INR 1,640 Lakhs (previous year: INR 1,921 Lakhs) * *Current Liabilities:* * Borrowings (Current): INR 28,382 Lakhs (previous year: INR 14,659 Lakhs) * Trade Payables: INR 16,088.32 Lakhs (previous year: INR 9,608.92 Lakhs) * Other Current Financial Liabilities: INR 3,105 Lakhs (previous year: INR 3,405 Lakhs) * Other Current Liabilities: INR 3,969 Lakhs (previous year: INR 1,040 Lakhs) * Provisions (Current): INR 1,044 Lakhs (previous year: INR 824 Lakhs) **Statement of Profit and Loss (for the year ended 31/03/2023, with comparative figures from 31/03/2022):** * Revenue from Operations: INR 1,75,616 Lakhs (previous year: INR 94,329 Lakhs) * Other Income: INR 2,749 Lakhs (previous year: INR 2,851 Lakhs) * Cost of Materials Consumed: INR 1,26,710 Lakhs (previous year: INR 52,796 Lakhs) * Changes in Inventories: INR -6,042 Lakhs (previous year: INR 3,982 Lakhs) * Employee Benefit Expense: INR 13,961 Lakhs (previous year: INR 11,830 Lakhs) * Finance Costs: INR 1,887 Lakhs (previous year: INR 965 Lakhs) * Depreciation, Depletion, and Amortization Expense: INR 3,457 Lakhs (previous year: INR 3,546 Lakhs) * Other Expenses: INR 28,958 Lakhs (previous year: INR 19,042 Lakhs) * Profit Before Tax: INR 9,434 Lakhs (previous year: INR 5,019 Lakhs) * Current Tax: INR 2,740 Lakhs (previous year: INR 1,475 Lakhs) * Deferred Tax: INR -309 Lakhs (previous year: INR -330 Lakhs) * Total Tax Expense: INR 2,431 Lakhs (previous year: INR 1,145 Lakhs) * Total Profit for the Year: INR 7,003 Lakhs (previous year: INR 3,874 Lakhs) * Other Comprehensive Income (OCI): INR 82 Lakhs (previous year: INR 291 Lakhs), primarily related to remeasurements of defined benefit plans and gains from investments in equity instruments. * Total Comprehensive Income: INR 7,085 Lakhs (previous year: INR 4,165 Lakhs) * Basic Earnings per Share: INR 47.49 (previous year: INR 25.83) * Diluted Earnings per Share: INR 47.49 (previous year: INR 25.83) **Statement of Changes in Equity:** * Equity share capital: remains consistent at INR 1,500.08 Lakhs from 01/04/2021 to 31/03/2022. A decrease to INR 1,470.68 Lakhs as of 31/03/2023. * Other Equity: Increases from INR 1,07,944 Lakhs (31/03/2021) to INR 1,19,223 (31/03/2023). * Statement details profit, comprehensive income, and other changes such as deductions to and additions to reserves. **Cash Flow Statement:** * Net Cash Flows from Operating Activities: INR 439 Lakhs * Net Cash Flows from Investing Activities: INR -2,389 Lakhs * Net Cash Flows from Financing Activities: INR 11,821 Lakhs * Net Increase in Cash and Cash Equivalents: INR 9,871 Lakhs * Cash and Cash Equivalents at End of Period: INR 22,993 Lakhs. **Notes on Accounting Policies:** * The financial statements are prepared in accordance with Indian Accounting Standards (Ind AS). * Key policies relate to revenue recognition, property, plant, and equipment, intangible assets, impairment, financial instruments, inventories, foreign currency transactions, employee benefits, borrowing costs, government grants, leases, taxes on income, and provisions/contingencies. * Intangible assets are amortized over their useful life (3-5 years) using the straight-line method. * The Company’s subsidiary is yet to commence commercial production. **Additional Disclosures:** * Information on share capital, reserves, and earnings per share is provided. * Details about contingent liabilities and commitments. * There is no any voluntary change in accounting policy

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