Indo National : Financial Result Updates

Nl'J»O

lndo National Limited

Ref: SEC/JS/				February 11, 2022
1) B S E Limited				(Scrip Code - 504058)
Floor 1, 'Phiroze JeeJeebhoy Towers'
Dalal Street
Mumbai - 400 001
2) The Listing Department				(Scrip ID - NIPPOBATRY)
National Stock Exchange of India Ltd.
"Exchange Plaza",
Bandra-Kurla Complex, Sandra (E)
MUMBAI - 400 051
Dear Sirs,
Sub: Announcement of Un-audited Standalone/ Consolidated Financial results for
The Third Quarter and Nine months ended	st	December 2021 as per
31
Regulation 33 of the SEBI (LODR) Regulations 2013.
The Board of Directors at their meeting held today inter alia.,
I. Approved and taken on record the following:
Standalone/ Consolidated Un-audited financial results for the Third
Quarter and Nine months ended 31	st	December,	2021.
The Meeting of the Board commenced at 11.00 a.m and concluded at 12.00 p.m.
We have also uploaded the results on the Stock Exchange Websites at
http://www.nseindia.com/corporates/ and http://www.bseindia.com/markets/ and on
the Company's website at www.nippo.in
Thanking you.
Yours faithfully,
For Inda National Limited
'	•'f#'
J�an
Company Secretary

Corp. Office : Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai - 600 034. T: [phone] / 2827 2711 E: [e-mail] W: www.nippo.in CIN No.: L31909TN1972PLC006196

NPpO

lndo National Limited

INDO NATIONAL LIMITED CIN NO : L31909TN1972PLC006196 REGISTERED OFFICE: L.AKSHMI BHAVAN, 609,MOUNT ROAD, CHENNAl-600 006

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DEC 31, 2021

S.No	Particulars

• Income from Operations
• 1. Revenue from operations
  2. Other income

Total Income

• Expenses
• 1. Cost of materials consumed
  2. Purchase of stock-in-trade
  3. Changes in inventories of finished goods.work-in-progressand stock-in-trade
  4. Employee benefits expense
  5. Finance costs
  6. Depreciation and amortization expense
  7. Other expenses

Total Expenses

3	Profit before exceptional items and Tax(1-2)
4	Exceptional items
5	Profit before Tax (3-4)
6	Tax expense

	-t3 months ended
Unaudited	Unaudited
31-12-2021	30-09-2021

10360.54

10869.07

375.90 463.12

10736.44 11332.19

4566.60	4024.26
3268.29	2075.47
(1,153.84)	642.90
1410.90	1400.85

84.64 78.81

160.53 141.37

2267.65 1968.99

10604.77	10332.65
131.67	999.54
.	.
1 31.67	999.54

			Rs in lak.hs
	Nine months ended	Year ended
Unaudited	Unaudited	Unaudited	Audited
31-12-2020	31-12-2021	31-12-2020	31-03-2021

10918.65	28745.85	29494.80	38675.13
584.90	1257.85	1550.98	2109.62
11503.55	30003.70	31045.78	40784.75
4403.93	11830.77	10987.11	15557.94
2230.45	7050.02	5766.25	7358.13
(229.32)	(1202.13)	594.31	(333.46)
1482.63	4298.84	4040.28	5382.61
119.04	246.54	327.04	414.62
136.03	430.54	399.74	534.65
1959.54	5615.14	5183.00	7305.13
10102.30	28269.72	27297.73	36219.62
1401.25	1733.98	3748.05	4565.13
.	.	.	0.00
1401.25	1733.98	3748.05	4565.13

	a)Current Tax
	b)Deferred Tax
7	Profit for the Period (5-6)
8	Other Comprehensive Income (Net of Tax)
9	Total Comprehensive Income
	Net profit/ (loss) attributable to
	Owners of the company
	Non controling interest
	Other Comprehensive Income attributable to
	Owners of the company
	Non controling interest
	Total Comprehensive Income attributable to
	Owners of the company
	Non controling interest
10	Paid Up Equity Share Capital (Face value-Rs.5/-)
11	Other Equity

12 Earning Per Share (of Rs.5/-each (not annualised)) Basic and Diluted

46.00	278.00	394.00	481.00	1046.00	1272.00
(9.00)	(22.00)	(45.00)	(33.00)	(97.00)	(102.00)
94.67	743.54	1052.25	1285.98	2799.05	3395.13
50.00	45.00	(70.00)	(17.00)	(61.00)	(95.00)
144.67	788.54	982.25	1268.98	2738.05	3300.13
94.67	743.54	1052.25	1285.98	2799.05	3395.13
.	.		.
50.00	45.00	(70.00)	(17.00)	(61.00)	(95.00)
.		.	.	-	.
-	.	-	.	.	-
144.67	788.54	982.25	1268.98	2738.05	3300.13
-	.	.	.	-	.
375.00	375.00	375.00	375.00	375.00	375.00
					22661.71
1.26	9.91	14.03	17.15	37.32	45.27

Corp. Office : Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai - 600 034. T: [phone] / 2827 2711 E: [e-mail] W: www.nippo.in CIN No.: L31909TN1972PLC006196

NIPpO

lndo National Limited

INDO NATIONAL LIMITED

CIN NO: L31909TN1972PLC006196

REGISTERED OFFICE: LAKSHMI BHAVAN, 609,MOUNT ROAD, CHENNAl-600 006

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DEC 31, 2021

Rs in Lakhs

Notes

• The above standalone unaudited financial results for the quarter and Nine months ended 31st December 2021 were reviewed by the Audit Committee vide Its meeting held on February 10, 2022 and then approved by the Board of Directors at Its meeting held on February 11, 2022.The Statutory Auditors of the company have conducted a Limited Review of the above standalone unaudited financial results.

• The standalone unaudited financial results for the quarter and Nine months ended 31st December 2021 have been prepared In accordance with Indian Accounting Standards ("Ind AS") as, prescribed under Secticn 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015,as amended.

• The Company has only one reportable segment.The business of the Company currently is into manufacture and sale of dry batteries, trading lighting products and other home appliances which comes under a single business segment known as "consumer goods". This classification is based on the nature of products, risks, returns and the internal business reporting system and accordingly there is no other reportable segment in terms of Ind AS 108 "Operating Segment".

• In a Suo Mato case relating to Cartalisaton of Zinc carbon dry cell batteries, CCI had imposed a penalty of Rs. 42.26 Crs against company and the Company made an appeal in order to stay the application before the Hon. National Company Law Appeliate Tribunal, New Delhi, (NCLA T)2018. against the CC I's Order dated April 2019. The Hon. NCLAT passed an order to stay the penally with the direction of depositing 10% of the penalty amounts to Rs.4.22 Crs within 15 days with the Registry of the NCLAT. The Company had deposited Rs.4.22 Crs with the Registry (through FD) within the due date as stipulated by NCLAT. Based on legal opinion, no provision has been made for the period ended 31st December 2021.

• The company has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amounts of inventory, receivables, property, plant and equipment, Intangible assets and investments. The company, as at the date of the approval of these standalone financial results, has performed evaluation of available information, considered sensitivity on the assumptions used and based on current estimates expects the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's standalone financial results may differ from that estimated as at the date of approval of these standalone financial results.

• The Board of Directors, at Its meeting held on 3rd September, 2021 resolved the subdivision of 37,50,000 equity shares of the company having face value of Rs.1Q/. each into 75,00,000 equity shares of Rs.5/- each and this resolution was approved by the shareholders by Remote e-voting at the Annual General Meeting held on 29th September,2021. The capital clause of the Memorandum of Association was also amended by a resolution passed by the Board at its meeting held on 3rd September and approved by the shareholders by Remote e-voting at the Annual General Meeting held on 29th September,2021.

• In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements Regulations, 2015, as amended , a communication on share split has been circulated to the shareholders of the company on 29th October,2021. This was also communicated to to the National Stock Exchange and BSE Ltd on 28th October,2021. The equity shares and earnings per share have been adjusted for share split in accordance with IND AS 33 "Earnings per Share'1or all previous periods.

• Mis Kineco Limited has entered into a Joint Venture in the month of October 2021 with Mis Exel Composites Oyj, a Nasdaq Helsinki listed, globally recognized Composite Company to develop the Indian pultrusion market. In the arrangement Kineco Limited sold the assets of its pultrusion business to a new company Mis Kineco Exel Composite India Private Limited in which Mis Exel Composites Oyj subscribed 55% shareholding and Kineco Ltd will remained a shareholder with 45% shareholding.

• The implementation of the Code on Social Security, 2020 is getting postponed. The Company will assess the Impact thereof and give effect in the Financial Statements when the date of implementation of the codes and the Rules/ Schemes thereunder are notified.

10 The previous period figures have been re-grouped/re-stated wherever necessary to conform to the current year/period's classification / disclosure.

for INDO NATIONAL LIMITED

CHENNAI • 600 034

February 11, 2022

Director

ISO 9001 and ISO 14001 Certified Company

Corp. Office: Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai - 600 034. T: [phone] / 2827 2711

E: [e-mail] W: www.nippo.in CIN No.: L31909TN1972PLC006196

NPpO

lndo National Limited

INDO NATIONAL LIMITED

CIN NO: L31909TN1972PLC006196

REGISTERED OFFICE: LAKSHMI BHAVAN, 609,MOUNT ROAD, CHENNAl-600 006

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DEC 31, 2021

Rs in Lakhs

S.No	Particulars

• Income from Operations
• 1. Revenue from operations
  2. Other income

Total Income

• Expenses
• 1. Cost of materials consumed
  2. Purchase of stock-in-trade
  3. Changes in inventories of finished goods.work-in-progressand stock-in-trade
  4. Employee benefits expense
  5. Finance costs
  6. Depreciation and amortization expense
  7. Other expenses

Total Expenses

• Profit before exceptional Items and Tax(1-2)
  4 Exceptional items
  5 Profit before Tax (3-4)
  6 Tax expense a)Current Tax b)Deferred Tax
  7 Profit for the Period (5-6)
  Share of profit /(loss) of joint ventures and associates (net)
  Profit for the period after share of loss of joint ventures and
  8 associates
  Other Comprehensive Income (Net of Tax) Total Comprehensive Income
  Net profit/ (loss) attributable to Owners of the company
  Non controling interest
  Other Comprehensive Income attributable to

	3 months ended		Nine months ended	Year ended
Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
31-12-2021	30-09-2021	31-12-2020	31-12-2021	31-12-2020	31-03-2021

17171.92	17212.84	15455.75	44883.80	40313.70	53181.00
852.03	407.48	551.90	1621.04	1343.93	1840.51
18023.9 5	17620.32	16007.65	46504.84	41657.63	55021.51
8447.51	7221.69	6663.72	20842.85	15726.11	21916.90
3268.29	2075.46	2230.44	7050.02	5766.24	7358.13
(1105.50)	757.89	(268.47)	(1394.02)	1089.88	399.01
2248.41	2208.76	2164.55	6650.66	6064.62	8131.89
299.03	264.20	329.70	841.60	1023.88	1327.95
346.10	328.39	318.79	991.55	942.80	1258.20
3512.07	3144.46	2685.79	8590.25	6855.24	9647.86
17015.91	16000.85	14124.52	43572.91	37468.77	50039.94
1008.04	1619.47	1883.13	2931.93	4188.86	4981.57
.	.	.	.	.
1008.04	1619.47	1883.13	2931.93	4188.86	4981.57
92.20	411.00	533.86	679.84	1374.75	1548.90
236.52	52.12	232.75	209.57	51.82	181.39
679.32	1156.35	1116.52	2042.52	2762.29	3251.28
(31.45)	0.00	0.00	(31.45)	0.00	0.00
647.87	1156.35	1116.52	2011.07	2762.29	3251.28
55.02	53.97	(62.57)	(1.93)	(38.95)	(63.09)
702.89	1210.32	1053.95	2009.14	2723.34	3188.19
285.73	882.94	1027.22	1467.63	2534.97	3037.69
362.14	273.41	89.30	543.44	227.32	213.59

	Owners of the company	52.02	48.75	(66.17)	(10.93)	(49.63)	(79.75)
	Non controling interest	3.00	5.22	3.60	9.00	10.68	16.66
	Total Comprehensive Income attributable to
	Owners of the company	337.75	931.69	961.05	1456.70	2485.34	2957.94
	Non controling interest	365.14	278.63	92.90	552.44	238.00	230.25
10	Paid Up Equity Share Capital (Face value-Rs.5/-)	375.00	375.00	375.00	375.00	375.00	375.00
11	Other Equity						23824.69

12 Earning Per Share (of Rs.5/-each (not annualised))

Basic and Diluted

3.81

11.77

13.70

19.57

33.80

40.50

Corp. Office : Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai - 600 034. T: [phone] / 2827 2711

E: [e-mail] W: www.nippo.in CIN No.: L31909TN1972PLC006196

NIPpO

lndo National Limited

INDO NATIONAL LIMITED CIN NO: L31909TN1972PLC006196 REGISTEREO OFFICE: LAKSHMI BHAVAN, 609,MOUNT ROAD, CHENNAl-600 006

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DEC 31, 2021

Rs in lakhs

Notes

• The above consolidated unaudited financial results for the quarter and Nine months ended 31st December 2021 were reviewed by the Audit Committee vide its meeting held on February 10, 2022 and then approved by the Board of Directors at its meeting held on February 11, 2022.The Statutory Auditors of the company have conducted a Limited Review of the above consolidated unaudited financial results.

• The consolidated unaudited financial results for the quarter and Nine months ended 31st December 2021 have been prepared in accordance with Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (listing Obligations and Disclosure Requirements) Regulation, 2015,as amended.

• The consolidated financial results include the financial results of lndo National Limited and the step down subsidiaries, Mis Kineco limited, Kineco Kaman Composites-India Private Limited, Composite India Private Limited.The standalone financial results of the company are available Stock Exchange website www.nseindla.com and on the Company's website www.nippo.in

financial results of Its subsidiary Mis Helios Strategic Systems Limited and Kineco Alte Train Technologies Pv1 Ltd, and Its associate Kineco Exel on the Bombay Stock Exchange website www.bseindia.com, the National

• For the quarter and Nine months ended 31st December 2021, one of the step down subsidiary Mls.Kineco Ltd has achieved the revenue of Rs.6,811.38 lakhs and Rs. 16,137.95 lakhs respectively, which amounts to more than 10% of the total consolidated revenue of Rs. 17,171.92 lakhs and Rs.44,883.80 lakhs respectively. Mls.Kineco Ltd and Its subsidiaries are in the business segment of Composites and Aerospaces. Considering the same and In accordance with IND AS 108, "segment reporting" becomes applicable for consolidated financial statements and the same is being given herewith.

• The Company has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amounts of inventory, receivables, property, plant and equipment, Intangible assets and investments. The company, as at the date of the approval of these consolidated financial results, has performed evaluation of available Information, considered sensitivity on the assumptions used and based on current estimates expects the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's consolidatedfinancial results may differ from that estimated as at the date of approval of these consolidated financial results.

• In a Suo Moto case relating to Cartalisaton of Zinc carbon dry cell batteries, CCI had imposed a penalty of Rs. 42.26 Crs against company and the Company made an appeal In order to stay the application before the Hon. National Company Law Appeliate Tribunal, New Delhi, (NCLAT) 2018. against the CCl's Order dated April 2019. The Hon. NCLAT passed an order to stay the penalty with the direction of depositing 10% of the penalty amounts to Rs.4.22 Crs within 15 days with the Registry of the NCLAT. The Company had deposited Rs.4.22 Crs with the Registry (through FD) within the due date as stipulated by NCLAT. Based on legal opinion, no provision has been made for the period ended 31st December 2021

• The Board of Directors, at its meeting held on 3rd September, 2021 resolved the subdivision of 37,50,000 equity shares of the company having face value of Rs.10i· each into 75,00,000 equity shares of Rs.Si• each and this resolution was approved by the shareholders by Remote e-voting at the Annual General Meeting held on 29th September,2021. The capital clause of the Memorandum of Association was also amended by a resolution passed by the Board at Its meeting held on 3rd September and approved by the shareholders by Remote e-voting at the Annual General Meeting held on 29th September,2021.

• In terms of Regulation 30 of the SEBI (listing Obligations and Disclosure Requirements Regulations, 2015, as amended , a communication on share split has been circulated to the shareholders of the company on 29th October,2021. This was also communicated to to the National Stock Exchange and BSE Ltd on 28th October,2021. The equity shares and earnings per share have been adjusted for share split in accordance with IND AS 33 "Earnings per Share'1or all previous periods.

• Mis Kineco Limited has entered into a Joint Venture with Mis Exel Composites Oyj, a Nasdaq Helsinki listed, globally recognized Composite Company to develop the Indian pultrusion market. In this arrangement Kineco Limited sold the assets of Its pultrusion business to a new company Mis Kineco Exel Composite India Private Limited in which Mis Exel Composites Oyj subscribed 55% shareholding and Kineco Ltd remained a shareholder with 45% shareholding.While preparing the Consolidated Financials of lndo National Limited ,and the Consolidated Financials of Mis Kineco Limited.the investment of Mis Kineco Limited in the associate company is recognised at cost and the carrying amount is adjusted to recognise the investors share of the profit or loss after acquisition as per the equity method prescribed under Ind AS 28.

1O The implementation of the Code on Social Security, 2020 is getting postponed. The Group will assess the Impact thereof and give effect in the Financial Statements when the date of implementation of the codes and the Rules/ Schemes thereunder are notified.

11	The previous period figures have been re-grouped/re-stated wherever necessary to conform to the current year/period's classification i disclosure.
		for INDO NATIONAL LIMITED
CHENNAI • 600 034	1-i	J'�
February 11, 2022
ISO 9001 and ISO 14001 Certified Company		Director

Corp. Office: Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai - 600 034. T: [phone] / 2827 2711 E: [e-mail] W: www.nippo.in CIN No.: L31909TN1972PLC006196