Spray Engineering Devices Unlisted Shares

Financial Report Summary

SPRAY ENGINEERING DEVICES LIMITED - Financial Statements Summary:

This document contains the standalone financial statements for SPRAY ENGINEERING DEVICES LIMITED for the period 01/04/2022 to 31/03/2023. The values are expressed in Lakhs of INR unless otherwise specified.

General Information:

• Name: SPRAY ENGINEERING DEVICES LIMITED
• CIN: U00000CH2004PLC027625
• Address: Plot No. 25, Industrial Area, Phase II, Chandigarh.
• Industry: Commercial and Industrial.
• Registration Date: 08/11/2004.
• Company Category: Company limited by shares/Non-Govt company.
• Listed Company: No.
• Approval Date of Final Accounts: 18/07/2023 (Board Meeting).
• Reporting Period: 12 months (01/04/2022 - 31/03/2023).
• Currency: INR.
• Rounding: Lakhs.
• Cash Flow Statement: Indirect Method.
• Registrar & Transfer Agent: Link Intime India Private Limited, New Delhi.
• Electronic Books: Yes.
• Computer Server Location: Mohali, Punjab, India.
• Principal Products/Services: Machinery for Sugar and Low Temperature Evaporator/MVR.

Principal Products/Services:

• Two main categories: Machinery for Sugar Manufacturing and Low Temperature Evaporator/MVR systems.
• Turnover: Rs 13,130.87 and Rs 23,783.2.
• Highest turnover contributors: Low Temperature Evaporator/MVR and Sugar Machineries.

Holding, Subsidiary & Associate Companies:

• Subsidiaries: IPRO ENGINEERING PRIVATE LIMITED, SUGAR SUSTAINABLE ENVIRONMENT DEVELOPERS LIMITED, and SED ENGINEERS AND FABRICATORS PVT LTD.

Directors Report:

• The Board of Directors presented the 19th Annual Report.
• Appointment of Ashok Kumar Sharma as an Independent Director on 16.09.2022.
• 7 board meetings were conducted during the financial year 2022-23.
• The Company has paid the sitting fees of Rs. 10,000/- to the Independent directors for their attendance at NRCM along with reimbursement of out-of-pocket expenses incurred by the directors for attending the meetings.
• None of the Directors of the Company is disqualified under the provisions of Section 164 of the Companies Act, 2013.

Financial Performance (Standalone - Rupees in Lakhs):

| Particulars | 2022-23 | 2021-22 | | :-------------------------------- | :------ | :------ | | Revenues from Operations (Net) | 39194 | 21445 | | Other Income | 143 | 117 | | Total Revenue | 39337 | 21562 | | Cost of Raw Material consumed | 25456 | 14685 | | Decrease/(Increase) in Inventory | (758) | (611) | | Employee Benefit Expenses | 3926 | 2803 | | Other Expenses | 5085 | 2423 | | EBITDA | 5628 | 2262 | | Depreciation and Amortization expenses | 286 | 214 | | Finance Cost | 805 | 506 | | Prior Period Item | | 37 | | Profit/ (Loss) before Tax | 4536 | 1505 | | Tax Expense | 1232 | 1240 | | Profit after Tax | 3304 | 1505 |

• The company has consistently applied accounting policies.

• Total revenue increased significantly from Rs. 215.62 Crores to Rs. 393.37 Crores.

• Turnover increased significantly to Rs. 393.37 Crores.

• The company has executed many projects related to Sale of Sugar Machineries and Low Temperature Evaporator/MVR.

Additional Notes:

• The Company did not transfer any amount to the General Reserves or the Investor Education & Protection Fund during the year.

• Authorized Share Capital increased to Rs. 4,000 Lakhs.

• The company is having adequate risk management system.

• The company is compliant with Secretarial Standards during the financial year under review.

• No Loan, Investment, Guarantee or Security has been given in excess of the limits provided in Section 186 of Companies Act 2013.

• The Number of Loans which are outstanding has not been given as of 31.03.2023.

• 7 Audit committee meeting was held on 16th September, 2022.

• The sitting fees of Rs. 10,000/- was paid to the Independent directors for their attendance at the Audit Committee meeting.

• There are no qualifications, reservations, adverse remarks or disclaimers made by auditors in the auditor's report.

• M/s Ashwani K. Gupta & Associates, Chartered Accountants, Panchkula were appointed as the Statutory Auditors of the Company for the period of 5 years starting from the year 2021-22.

• There are no significant and/or material orders passed by any regulators/courts/tribunals impacting the going concern status and company's operations in future.

• The Company formulated the Risk management policy as per the Section 134(3)(n) & Section 177(4)(vii) of the Companies Act, 2013.

This summary provides a comprehensive overview of the financial standing and activities of SPRAY ENGINEERING DEVICES LIMITED for the specified period.