Mohan Meakin Limited Unlisted Shares Financial Reports

Mohan Meakin Limited Unlisted Shares

Haribhakti & Co. LLP, Chartered Accountants, issued an independent auditor's report to the Board of Directors of Mohan Meakin Limited concerning the audit of the annual financial results for the year ended March 31, 2024. **Opinion** The auditors state that the financial results comply with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. They also provide a true and fair view of the net profit, other comprehensive income, and financial information according to Indian accounting standards and principles generally accepted in India. **Basis for Opinion** The audit was conducted based on the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013. The auditors affirm their independence and fulfillment of ethical responsibilities as per the Institute of Chartered Accountants of India (ICAI)'s Code of Ethics. The audit evidence obtained was deemed sufficient for the opinion provided. **Management's and Board of Directors' Responsibilities** Management and the Board of Directors are responsible for preparing the Statement based on annual financial statements, presenting a true and fair view of net profit, other comprehensive income, and financial information, adhering to Indian Accounting Standards and Regulation 33. Their responsibilities include maintaining adequate accounting records, safeguarding assets, preventing fraud, applying appropriate accounting policies, and maintaining adequate internal financial controls. **Auditor's Responsibilities** The auditor's objectives are to obtain reasonable assurance that the Statement is free from material misstatement, whether due to fraud or error, and to issue an auditor's report including their opinion. The audit involves professional judgment and skepticism, including identifying and assessing risks of material misstatement, designing audit procedures, obtaining sufficient evidence, understanding internal control, evaluating accounting policies and estimates, and assessing the going concern basis. They also evaluate the presentation and content of the Statement. The audit report will also address internal financial controls. **Other Matters** The Statement includes results for the quarter ended March 31, 2024, which are the balancing figures between audited figures for the full financial year and published unaudited year-to-date figures up to the third quarter. The unaudited figures were subject to a limited review. **Financial Results (Year Ended March 31, 2024)** * **Total Income:** ₹60,364.82 lacs (₹67,679.61 lacs for the quarter ended December 31, 2023, and ₹46,643.84 lacs for the quarter ended March 31, 2023) * **Total Expenses:** ₹56,348.75 lacs (₹63,427.12 lacs for the quarter ended December 31, 2023, and ₹43,909.60 lacs for the quarter ended March 31, 2023) * **Profit Before Tax:** ₹4,016.07 lacs (₹4,252.49 lacs for the quarter ended December 31, 2023, and ₹2,734.24 lacs for the quarter ended March 31, 2023) * **Profit for the period/year:** ₹2,969.34 lacs (₹3,176.28 lacs for the quarter ended December 31, 2023, and ₹2,024.79 lacs for the quarter ended March 31, 2023) * **Total Comprehensive Income:** ₹3,122.60 lacs (₹3,195.27 lacs for the quarter ended December 31, 2023, and ₹2,028.85 lacs for the quarter ended March 31, 2023) * **Earnings per Equity Share (Basic & Diluted):** ₹34.90 (₹37.33 for the quarter ended December 31, 2023, and ₹23.80 for the quarter ended March 31, 2023) **Assets and Liabilities (as of March 31, 2024)** * **Total Assets:** ₹53,473.94 lacs * **Total Equity:** ₹36,632.27 lacs * **Total Liabilities:** ₹16,841.67 lacs **Cash Flow Statement (Year Ended March 31, 2024)** * **Net cash from operating activities:** ₹6,669.01 lacs * **Net cash used in investing activities:** ₹(7,094.21) lacs * **Net cash used in financing activities:** ₹(83.15) lacs * **Cash and Cash Equivalents at the end of the year:** ₹1,745.34 lacs **Segment Reporting (Year Ended March 31, 2024)** * **Revenue:** Alcoholic segment: ₹191,167.38 lacs; Non-alcoholic segment: ₹1,824.89 lacs * **Profit Before Tax:** Alcoholic segment: ₹13,007.86 lacs; Non-alcoholic segment: ₹(188.15) lacs * **Assets:** Alcoholic segment: ₹37,264.56 lacs; Non-alcoholic segment: ₹1,520.94 lacs; Unallocated: ₹14,688.44 lacs * **Liabilities:** Alcoholic segment: ₹13,401.70 lacs; Non-alcoholic segment: ₹388.07 lacs; Unallocated: ₹3,051.90 lacs **Other Key Points** * The Board of Directors has recommended a dividend of 20% (₹1.00 per equity share) which is subject to shareholders' approval. * Previous periods' figures have been regrouped/rearranged to make them comparable with the current period. * The financial results have been reviewed by the audit committee and approved by the Board of Directors on May 29, 2024. * Exceptional items during the previous year ended March 31, 2023, represent a gain of ₹301.04 lacs on the sale of land at Lucknow. * Company's business segments include alcoholic products (Premium Rums, Whiskies, Brandy, Vodka, Gin and Beer) and non-alcoholic products (Juice, Vinegar, breakfast foods)

Mohan Meakin Limited Unlisted Shares

Haribhakti & Co. LLP, Chartered Accountants, issued an Independent Auditor's Review Report on the Unaudited Financial Results of Mohan Meakin Limited for the quarter and nine months ended December 31, 2023, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 (as amended). The review was conducted in accordance with the Standard on Review Engagement (SRE) 2410 issued by the Institute of Chartered Accountants of India. The report states that the Statement has been prepared by the Company's Management and approved by the Board of Directors in accordance with Indian Accounting Standard 34 "Interim Financial Reporting." Based on the review, nothing came to the auditor's attention that would suggest the Statement does not comply with Regulation 33 of SEBI Regulations, 2015 (as amended) or contains any material misstatement. The statement of unaudited financial results reveals the following: **Financial Performance:** Total income for the quarter ended December 31, 2023, was ₹67,679.61 lacs, compared to ₹65,950.84 lacs for the quarter ended December 31, 2022. Total income for the nine months ended December 31, 2023, was ₹1,33,812.64 lacs, compared to ₹1,31,214.23 lacs for the nine months ended December 31, 2022. Profit before exceptional items and tax for the quarter ended December 31, 2023, was ₹4,252.49 lacs, compared to ₹3,879.37 lacs for the quarter ended December 31, 2022. Profit before exceptional items and tax for the nine months ended December 31, 2023, was ₹7,377.89 lacs, compared to ₹6,144.30 lacs for the nine months ended December 31, 2022. Net profit for the quarter ended December 31, 2023, was ₹3,176.28 lacs, compared to ₹2,901.54 lacs for the quarter ended December 31, 2022. Net profit for the nine months ended December 31, 2023, was ₹5,500.66 lacs, compared to ₹4,814.71 lacs for the nine months ended December 31, 2022. Earnings per equity share (not annualized) for the quarter ended December 31, 2023, was ₹37.33, compared to ₹34.10 for the quarter ended December 31, 2022. Earnings per equity share (not annualized) for the nine months ended December 31, 2023, was ₹64.65, compared to ₹56.59 for the nine months ended December 31, 2022. **Segment Reporting:** The company's business segments comprise Alcoholic and Non-alcoholic products. For the quarter ended December 31, 2023, the Alcoholic segment contributed revenue of ₹66,982.92 lacs and profit before finance costs and tax of ₹4,636.41 lacs. The Non-alcoholic segment contributed revenue of ₹435.37 lacs and loss before finance costs and tax of ₹(72.40) lacs. For the nine months ended December 31, 2023, the Alcoholic segment contributed revenue of ₹1,31,737.65 lacs and profit before finance costs and tax of ₹8,345.58 lacs. The Non-alcoholic segment contributed revenue of ₹1,348.98 lacs and loss before finance costs and tax of ₹(175.28) lacs. Total segment assets as of December 31, 2023, were ₹56,021.16 lacs, with ₹44,527.72 lacs attributed to the Alcoholic segment and ₹1,626.23 lacs to the Non-alcoholic segment, and ₹9,867.21 lacs unallocated. Total segment liabilities as of December 31, 2023, were ₹22,511.49 lacs, with ₹19,380.57 lacs attributed to the Alcoholic segment and ₹409.89 lacs to the Non-alcoholic segment, and ₹2,721.03 lacs unallocated. **Other Notes:** The financial results have been reviewed by the audit committee and approved by the Board of Directors on February 12, 2024. The financial results have been prepared in accordance with Ind AS as prescribed under section 133 of the Companies Act, 2013. Exceptional items during the previous year ended March 31, 2023, and previous year-to-date from April 1, 2022, to December 31, 2022, represent a gain of ₹301.04 lacs on the sale of land at Lucknow. Previous period figures have been regrouped/rearranged where necessary to make them comparable with the current period figures.