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Q1FY2025 Results of India Carbon

Event Date: September 8, 2024

Document Summary

S.Samanta & Co., Chartered Accountants, issued a Limited Review Report on the unaudited financial results of India Carbon Limited for the quarter ended June 30, 2024. This review was conducted to meet the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and SEBI Circular No.CIR/CFD/CMDI/44/2019 dated March 29, 2019.

The statement of unaudited financial results, prepared by India Carbon Limited's management and approved by its Board of Directors, adheres to Indian Accounting Standard 34 ("Interim Financial Reporting" or "Ind AS 34") as prescribed under Section 133 of the Companies Act, 2013, and other generally accepted accounting principles in India. The auditor’s responsibility is to issue a report based on the review.

The review was performed in accordance with the Standard on Review Engagement (SRE) 2410, issued by the Institute of Chartered Accountants of India, aimed at obtaining moderate assurance that the financial statements are free from material misstatement, relying primarily on inquiries and analytical procedures. It provides less assurance than an audit.

Based on their review, nothing came to the auditor's attention that suggests the accompanying statement of unaudited financial results was not prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind AS), other recognized accounting practices, and policies, or that it failed to disclose required information under Regulation 33 of the SEBI Regulations, including how the information is to be disclosed, or that it contains any material misstatement. The place of the report is Kolkata, and the date is August 9, 2024.

Financial Results Summary (Quarter Ended June 30, 2024 - Rupees in Lakhs):

  • Income:
    • Revenue from Operations: 3,751.01 (Compared to 11,376.74 in the quarter ended June 30, 2023 and 8,092.43 in the quarter ended March 31, 2024)
    • Other Income: 984.29 (Compared to 1,283.04 in the quarter ended June 30, 2023 and 667.48 in the quarter ended March 31, 2024)
    • Total Income: 4,735.30 (Compared to 12,659.78 in the quarter ended June 30, 2023 and 8,759.90 in the quarter ended March 31, 2024)
  • Expenses:
    • Cost of Materials Consumed: 3,028.40 (Compared to 7,126.62 in the quarter ended June 30, 2023 and 5,863.87 in the quarter ended March 31, 2024)
    • Changes in Inventories of Finished Goods: 725.31 (Compared to 4,285.47 in the quarter ended June 30, 2023 and 728.66 in the quarter ended March 31, 2024)
    • Employee Benefits Expense: 252.55 (Compared to 273.00 in the quarter ended June 30, 2023 and 327.32 in the quarter ended March 31, 2024)
    • Finance Costs: 25.58 (Compared to 205.83 in the quarter ended June 30, 2023 and 10.68 in the quarter ended March 31, 2024)
    • Depreciation and Amortization Expense: 52.73 (Compared to 47.65 in the quarter ended June 30, 2023 and 53.47 in the quarter ended March 31, 2024)
    • Other Expenses: 745.86 (Compared to 1,121.26 in the quarter ended June 30, 2023 and 789.84 in the quarter ended March 31, 2024)
    • Total Expenses: 4,830.43 (Compared to 13,059.83 in the quarter ended June 30, 2023 and 7,773.85 in the quarter ended March 31, 2024)
  • Profit/Loss:
    • Profit/Loss Before Exceptional Items: (95.13) (Compared to (400.06) in the quarter ended June 30, 2023 and 986.05 in the quarter ended March 31, 2024)
    • Profit/Loss Before Tax: (95.13) (Compared to (400.06) in the quarter ended June 30, 2023 and 986.05 in the quarter ended March 31, 2024)
    • Tax Expenses: 58.94 (Compared to 179.38 in the quarter ended June 30, 2023 and (745.15) in the quarter ended March 31, 2024)
    • Net Profit/Loss for the Period: (154.08) (Compared to (579.44) in the quarter ended June 30, 2023 and 1,731.20 in the quarter ended March 31, 2024)
  • Other Comprehensive Income (Net of Taxes): 7,832.30 (Compared to 1,612.59 in the quarter ended June 30, 2023 and 654.19 in the quarter ended March 31, 2024)
  • Total Comprehensive Income: 6,741.48 (Compared to 840.28 in the quarter ended June 30, 2023 and 1,586.10 in the quarter ended March 31, 2024)
  • Equity Share Capital: Paid-up Equity Share Capital (Face value of Rs. 10 each) remained constant at 265.00.
  • Earnings/Loss Per Share: Earning (Loss) Per Share of Rs.10 each (Not annualized) Basic and Diluted: (5.81) (Compared to (21.87) in the quarter ended June 30, 2023 and 65.33 in the quarter ended March 31, 2024).

Additional Notes:

  • The results have been reviewed by the Audit Committee and approved by the Board of Directors on August 9, 2024.
  • The financial results are prepared according to the Companies (Indian Accounting Standard) Rules, 2015 (Ind-AS).
  • Figures have been regrouped and rearranged where necessary for comparison.
  • The statutory auditors have carried out a 'Limited Review' of the Financial Results for the Quarter ended 30th June, 2024 as required.
  • Rakesh Himatsingka, Chairman & Managing Director, declared the results. DIN: 00632156.

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