9 | Vardhman VARDHMAN TEXTILES LIMITED
eee CHANDIGARH ROAD, UOMANA.141010
si er 220.48
tei Ts
SECRETARIAL LUD@VARDHMAN.COM
Ref. VIXL:SCY:MAY:2016-17 Datedi.09.05.2016
The National Stock Exchange of India Ltd.,
“Exchange Plaza”,
Bandra-Kurla Complex,
Bandra (East),
‘Mumbai - 400051
he Deputy General Manager,
Corporate Relationship Department,
Bombay Stock Exchange Limited,
1* Floor, New Trading Ring,
Rotunda Building, PJ Towers,
Dalal Street, Fort,
Mumbai - 400001
Scrip Code: 502986
Scrip Code: VTL
‘SUB: DISCLOSURE UNDER REGULATION 30 & 33 OF SEBI LISTING OBLIGATIONS
Dear Sir,
Pursuant to Regulation 30 read with Part A of Schedule Ill and Regulation 33 of SEBI (Listing
Obligations and Disclosure Requirements), Regulations 2015, we wish to inform you that
Board of Directors in its meeting held on 9" May, 2016 had approved the Audited Financial
Results (Standalone & Consolidated) for the quarter/ financial year ending 31° March, 2016.
In this regard, please find enclosed herewith:-
i. Statement showing the Audited Financial Results (Standalone & Consolidated) for
the quarter/ financial year ending 31" March, 2016;
i. Form A (for audit report with unmodified opinion) - Standalone & Consolidated; and
|. Auditors’ Report on the Audited Financial Results - Standalone & Consolidated.
The meeting of the Board of Directors commenced at 11:30 a.m. and concluded at 2.10 p.m.
Kindly note and display the notice on your notice Board for the information of the members
of your exchange and general public.
Thanking you,
Yours faithfully,
ForVARDHMAN TEXTILES LIMITED,
YARNS | FABRICS | THREADS
GARMENTS.
FIBRES | STEELS
PAN NO: AABCH4S92E CIN: L17111PB19739LC003345,
\WWW/VARDHMAN.COM[VARDHMAN TEXTILES LIMITED
[Rega. omic igarh Road, Ludhiana-141010
|Audited Financial Results for the Quarter and Year ended 31st March, 2016
|Corporate Identity Number (CIN): L17411PB1973P1.C003345, PAN: AABCM4692E,
|Websitewww.vardhman.com Email: seretarial ud@vardhman.com
143622 sser14] 574203
838 4098 7335 45.12
Fe Taa76 Fea. S718
bp
656.68 654.99 ess] 2.90082
15.64 231 ons ma
32.76 5590 1220 103
ores] 113.60 s175 41038 35083
[Depreciation and Amorisation Expense sas 824 13230 36192 ‘a3
‘fPower & Fuel 3978] 14538 uses on ares
3] Other Expenses ws] 9264 179.66 70243 ns
Hrotal Expenses 102) Tass | Taaase 7281.76 as2.97 | 5299.30
J Jeroructas) fom Operations before Other "10.70 | “199.86 16698 i
acome Finance Costs and Exceptional lems (1-2)
J+ foster income (Refer Note No 1) 90.16 - - 133.77 1295
5 JerofvtLas) fom ordinary actives before Finance cost and 30035 | 19986, 16658 | a ai0.0
Exepnal tems (4)
Js Jinance Cost (Refer Note No.2) usr 1876 2863 8685 miss
1 Persia) rom ordinary scivites afer Finance Costs but
Before exceptional ems (5-6) Teze| Tai Dax eae a7
5. exceptional tems E : : 7 7
Jo Jerofv(Loss) fom ordinary activities before Tx (8) Teas | tant Tae aie wa
ho frax Expense 5879 5280 48.16 21159 13016
1 fer roi (Loss) fom ordinary activities ater Tax (9-10) a9 | ast 3020 305 38.0
2 [extracedinary Kemet of Expense) 5 : 5 é 5
13 Net Prof (Loss) forthe Period #12) [ | ast 300 eis oir
4 fPsidap Equity Capital Face Valve Rs 1 per share) 065 65 65 6365 a5
1s [Reserve excluding Revaluation Reserves sper ass] 301973
Balance Sheet of previous accountng yar
1 fcarings Pex Share (before Exrancdinary hems)
cin Rs. (no annualized:
a) Basic sar 2016 wir 10260 sean
lo Dintes sar 2016 1407 10260 56.82
16 Earnings Per Share (fer Extraordinary ems)
in Rs (no annualized:
Basic sar 2016 147 10260 soar
(Dit saa 2016 1407 10260 56.42[VARDHMAN TEXTILES LIMITED
HRegd. Office : Chandigarh Road, Ludhiana-141010
Revenue Results and Capital Employed
Rs, In Crores
‘Year ended
‘Sst March, 2015
Andited
T. Segment Revenue
Textiles 1,389.35 $738.88
Unallocated 6027 223.83
Tota! 1449.62 5962.71
Less: Inter Segment Revenue 59.68 220.68
~ Net Sales/income from Operations 1389.93 372.03
2. Segment Results [Profit /(Loss) before
tax and interest from each segment]
Textiles 207.39 591.47
Unallocated 1835 29.62
Total am. 621.09
Less () Interest 2487 12184
Gi Net of Un-allocable expenditure! vs.an) 10.28
(income)
Profit after interest but before 276.28 $9927
exceptional items & tax
3. Capital Employed
Textiles 452537 4a51.17 4432.64 452537 4432.64
Unallocated 4,718.07 1,880.78 1,261.70 1718.07 1261.70
ee rete c eet 108.14 303.76 93.41 108.16 93.41
(Fotat 6,351.58 6335.71 3787.75 6351.58 5,787.75)VARDHMAN TEXTILES LIMITED
Regd. Office : Chandigarh Road, Ludhiana-|
NOTES:
1 Other Income comprises dividend received from subsidiary companies,
2 Interest expense is net of interest income from deposits/bonds amounting to Rs.10.38 crores for the quarter ended 31st
3 During the Quarter ended 31st March 2016, Promoters and Promoter Group of Vardhman Textiles Ltd, purchased
1,83,597 shares of the company from open market.
4 Figures for previous periods have been recast/regrouped, wherever necessary to make them comparable. The figures
for the quarter ended 31st march are the balancing figures between audited figures in respect of the full financial year
and the published year to date figures upto 31st December.
5 The Board of Directors has approved the above results in its meeting held on 09.05.2016
for Vardhman Textiles Limited
Place : Ludhiana SP, Oswal
Date : 09-05-2016 Chairman & Managing DirectorI'VARDHMAN TEXTILES LIMITED
Regd. Office ; Chandigarh Road, Ludhiana-141010
[Balance Sheet as at 31.03.2016
Particulars
(Rs, In Crore)
EQUITY AND LIABILITIES
Shareholders’ Funds
(a) Share Capital
(b) Reserves and Surplus
(c) Money received against share warrants
Sub-total-Shareholders’ funds
2|Share application money pending allotment
3|Non-current liabilities
(a) Long-term borrowings
(b) Deferred tax liabilities (net)
(c) Other long-term liabilities
(d) Long-term provisions
Sub-total-Non current liabilities
4|current liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(4) Short-term provisions
Sub-total-Current Liabilities
TOTAL -EQUITY AND LIABILITIES
1|Non-current assets
(a) Fixed assets
(b) Non current investments
(c) Deferred tax assets (net)
(4) Long-term loans and advances
(e) Other non-current assets
Sub-total-Non Current Assets
2\Current assets
(a) Current investments
\(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
\(f) Other current assets
Sub-total-Current Assets
TOTAL -ASSETS
1,686.09,
6,827.47e
| Vardhman VARDHMAN TEXTILES LIMITED
CHANDIGARH ROAD, LUDHIANA. 141010
Te 991-161-2220943-48
Fs +91-0161-2220 766
E: SECRETARIALLUD@VARDHMAN.COM
[ peering Excelence, Since 1965
FORMA
(For audit report with unmodified opinion)
[Pursuant to Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements)
Regulations, 2015]
1. | Name of the Company Vardhman Textiles Limited
2. | Annual financial statements 31 March, 2016
for the year ended
3. _| Type of Audit observation _| Urrmodified (Standalone)
4. | Frequency of observation | Not Applicable
For Vardhman Textiles Limited pert ‘an Textiles Limited
(s.P. oswal) (Prafull Anubhai)
Chairman & Managing Director Chairman of Audit Committee
For S.C. Vasudeva & Company, For Vardhman Textiles Limited
Chartered Accountants
(Firm Registration No. 000235N)
oe —4 Lay bef
(Sanjeev Nohan) (Rajeev Thapar)
Partner Chief Financial Officer
Membership No. 086060
GARMENTS | FIBRES | STEELS
YARNS | FABRICS | THREADS
PAN NO: AABCN46926 CIN: LI7I11PBI9739LC003345
WWWVARDHMAN.COMB-XIX-220, Reni Jhansi Road,
S.C. Vasudeva & Co. Ghumar Mandi, Ludhiana -141 001
CHARTERED ACCOUNTANTS. Tel.: 0161-2774527, 9815420555
E-mail : udhiana@sevasudeva.com
Website : www.scvasudeva.com
Independent Auditor’s Report On Standalone Financial Results Vardhman Textiles Limited pursuant to
the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To
‘The Board of Directors
Vardhman Textiles Limited,
We have audited the accompanying annual financial results of Vardhman Textiles Limited (the company)
for the year ended 31 March, 2016 attached herewith, being submitted by the company pursuant to the
requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015. Attention is drawn to the fact that the figures for the quarter
ended 31 March, 2016 and the corresponding quarter ended in the previous year as reported in these
financial results are the balancing figures between audited figures in respect of the full financial year and
the published year to date figurers up to the end of the third quarter of the relevant financial year. Also the
figures up to the end of the third quarter had only been reviewed and not subjected to audit.
Management's responsibility for the Financial Results
‘These financial results have been prepared on the basis of the annual financial statements and reviewed
quarterly financial results up to the end of the third quarter. Management is responsible for the
preparation of these financial results and other financial information in accordance with the recognition
and measurement principles laid down under section 133 of the Companies Act, 2013 read with rule 7 of
the Companies (Accounts) Rules, 2014 and other accounting principles generally accepted in India and in
compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and
Disclosures Requirements) Regulations, 2015.
This responsibility includes the design, implementation and maintenance of internal control relevant to
the preparation and presentation of the financial results that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial results based on our audit of the annual
financial statements. We conducted our audit-in accordance with the auditing standards generally
accepted in India. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement(s)..
H, O. : B-41, Panchsheel Enclave, New Delhi - 110 017. Tel: 26499111, 26499222, 26499444, 26499555 Fax : 91-11-41749444
B.O. : D-62, Panchsheel Enclave, New Dethi - 110 017. Tel: 26497629, 26497630S.C. Vasudeva & Co. Continuation Sheet No.
‘An Audit includes examining, on a test basis, evidence supporting the amount disclosed as financial
results. An audit includes assessing the accounting principles used and significant estimates made by
management. We believe that our audit provides a reasonable basis for our opinion
Opinion
In our opinion and to the best of our information and according to the explanations given to us these
financial results:
i, are presented in accordance with the requirements of Regulation 33 of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in
this regard; and
fi, give a true and fair view of the net profit and other financial information for the year ended 31
March 2016,
For S.C. Vasudeva & Co,
Chartered Accountants
Firm Reg. No.000235N
Te
: (Safiv Mohan)
er
M. No. 086066
Ludhiana
9" May, 2016Patt
Sn TETRIS
|Regd. Office : Chandigarh Road, Ludhiana-141010
a
a eee
ere
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me 5
ess
:
sree ois om
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=
ee
ae car opti en bien ceed
Let ose SE -gap sie ssalms
ee
SE rammunimeene mst aget—nrat sat we
er mut pepe mei
a ee
ae iting nen ea
Se
Gene| Aerie Fibre —
‘Unallocated
‘Total —
Less: Inier Segment REveniie
et Galos/Tncome from Operations
[2. Bepment Results
[Prot (+) / oss (- elore Tax & Interest from each Segment
Textiles ~
~ Aerie Fibre —
Unallocated =
a
Less _—
(i) Other uncaloeable expenditure
(Net of un-ellocable income) —
“Fokal Profit Bofors Tax and Basoptional Rema
|3. Capital Beaployed
Capital work-in-progress (including capital advances)
"Total
[romes+
1. The consolidated financial results includes result ofall ts subsidiaries vis Vardhman Acrylics Ltd., VMT Spinning Co. Ltd, VIL Investments Ltd,
\Vardhman Yams and Threads Ltd , Vardhman Nisshinbo Garments Company Lid, and its associates Vardhman Special Steels Limited and Vardhman,
Spinning & General Mills Limited.
J. During the Quarter ended 31st March 2016, Promoters and Promoter Group of Vardhman Textiles Lid. purchased 1,83,597 shares of the company
irom open market.
Figures for previous periods have been recast/regrouped, wherever necessary to make them comparable. The figures forthe quarter ended 31st
linarch are the balancing figures between auetited figures in respect ofthe full nancial year and the published year to date figures upto 31st
JDecember.
4. tn accordance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has opted to publish
[consolidated financial results, The standalone financial results of the Company {s available on the Company's website worw-vardhman.com or on the
website of BSE (ww. bseindia.com or NSE (wew.nseindia.com
|S: Te Board of Directors has approved the above results in its meeting held on 09.05.2016.
‘or Vardhman Textiles Limited
he
JPiace : Ludhiane SP. Oswal
‘chairman & Managing|
pated : 09.05.2016 Directo[VARDHMAN TEXTILES LIMITED
Regd. Office : Chandigarh Road, Ludhiana-141010
Consolidated Statement of Assets & Liabilities as on 31st March,
EQUITY AND LIABILITIES
‘Shareholders’ Funds
(a) Share Capital
(o) Reserves and Surplus
(c) Money received against share warrants
‘Sub-total-Shareholders' funds
2|Share application money pending allotment
3] Minority Interest
(a) Long-term borrowings
(b) Deferred tax liabilities (net)
(c) Other long-term liabilities
(a) Long-term provisions
‘Sub-total-Non current liabilities
(a) Short-term borrowings
(o) Trade payables
(c) Other current liabilities
(a) Short-term provisions
Sub-total-Current Liabilities
‘TOTAL -EQUITY AND LIABILITIES
Is |asseTs
1}Non-current assets
(a) Fixed assets
(>) Goodwil on Consolidation
(c) Non current investments
(a) Deferred tax assets (net)
(e) Long-term loans and advances
() Other non-current assets
Sub-total-Non Current Assets
(a) Current investments
(o) Inventories
\(c) Trade receivables
(a) Cash and cash equivalents
(c) Short-term loans and advances
() Other current assets
‘Sub-total-Current Assets
TOTAL -ASSETS
(Ra. In Crore)
As at] “As af]
31.03.2016 31.03.2015]
sated ‘Audited
62.52 62.52
3,783.95 3,312.77
3,375.29
371.59
1,155.42 1,418.32
213.24 223.25
2.86 14.64
8.51 9.44
7,380.03 1,665.65
1,053.58 473.65
199,21 220.89
952.53 1,088.90
5.49
2,210.81
7,808.91
2,958.07 2,945.97
12.59 12.59
894.91 456.79
92.44 77.99
12.70 124.04
3,617.38
3,967.72,
237.03 411.82
2,056.29 1,915.75
825.73 809.51
309.37 202.76
391.77 400.18
20.99, 21.02| Vardhman VARDHMAN TEXTILES LIMITED
FORMA
(For audit report with unmodified opinion)
[Pursuant to Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements)
Regulations, 2015]
1. | Name of the Company Vardhman Textiles Limited
‘Annual financial statements | 3 March, 2016
for the year ended jf |
3. | Type of Audit observation Un-modified (Consolidated) |
4. | Frequency of c Not Applicable _ 7
For Vardhman Textiles Limited Forflafdhman Textiles Limited
ae | vl
(s.P. osWal) (Prafull Arfbhai)
Chairman & Managing Director Chairman of Audit Committee
For S.C. Vasudeva & Company, For Vardhman Textiles Limited
Chartered Accountants
(Firm Registration No. 000235N)
Leo
(Rajeev Thapar)
Chief Financial Officer
a 4
(Sanjdev|Mohan)
Partner
Membership No. 086066
GARMENTS | FIBRES | STEELS
Wes | THREADS
2 CIN: L.17111PB19739L.C003345
WWW/VARDHMAN.COMB-XIX-220, Rani Jhansi Road,
S.C. Vasudeva & Co. ‘Ghumar Mandi, Ludhiana - 141 001
CHARTERED ACCOUNTANTS Tel.: 0161-2774527, 9815420555
E-mail : ludhiana@sevasudeva.com
Website : wwwsovasudeva.com
Independent Auditor’s Report
The Board of Directors,
‘Vardhman Textiles Limited,
1, We have audited the accompanying Statement of Consolidated Financial Results of Vardhman
Textiles Limited (‘the Holding Company”) and its subsidiaries and associates (collectively referred to
as “the Group”), for the year ended 31" March, 2016(“the Statement”), being submitted by the Holding
Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015. This Statement, is the responsibility of the Holding
‘Company’s Management and approved by the Board of Directors, has been prepared on the basis of
the consolidated financial statements which are in accordance with the Accounting Standards
prescribed under Section 133 of the Companies Act, 2013, as applicable and other accounting
principles generally accepted in India. Our responsibility is to express an opinion on the Statement.
2. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of
Chartered accountants of India. Those Standards require that we plan and perform the audit to obtain
reasonable assurance about whether the Statement is free from material misstatement. An audit
includes examining, on a test basis, evidence supporting amounts disclosed in the Statement. An audit
also includes evaluating the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by the management as well as evaluating the overall
presentation of statement. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
3. a. Financial Statements of one subsidiary which reflect total assets of Rs. 40.81 crores as at 31"
march, 2016 and total revenues of Rs. 3.95 crores for the year then ended, and financial
statements of one associate in which the share of loss of the Group is Rs. 0.001 crores have been
audited by us.
b. We did not audit the financial statements of four subsidiaries whose financial statements reflect
total assets of Rs. 1204.77 crores as at 31 March, 2016 and total revenue of Rs. 1371.97 crores
for the year then ended on that date and the financial statements of one associate in which the
share of the profit of the group is Rs. 1.64 crores. These financial statements have been audited
by other auditors whose reports have furnished to us and our opinion is based solely on the
reports of other auditors
Our opinion on the statement is not modified in respect of above matter at (3)(b) with regard to our
reliance on the reports of the other auditors.
H. 0. : B-41, Panchshee! Enclave, New Delhi - 110 017. Tel.: 26499111, 26499222, 26499444, 26499555 Fax : 91-11-41749444
B. O. : D-62, Panchsheel Enclave, New Delhi - 110 017. Tel: 26497629, 26497630S.C. Vasudeva & Co. Continuation Sheet No.
4,
In our opinion and to the best of our information and according to explanation given to us and
based on the consideration of the report of other auditors referred to in Paragraph 3 above, the
statement:
a. includes the result of entities as given below:
List of Subs :
1, Vardhman Yarns and Threads Limited
2. Vardhman Acrylics Limited
3. VMT Spinning Company Limited
4, Vardhman Nisshinbo Garments Company Limited
5. VTL Investments Limited
List of ass
1. Vardhman Special Steels Limited
2. Vardhman Spinning & General Mills Limited
b. is presented in accordance with the requirements of SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015;and
c. gives a true and fair view in conformity with the aforesaid accounting standards and the other
accounting principles generally accepted in India of the consolidated net profits and other
financial information of the group for the year ended 31" March, 2016.
The statement includes the result for the quarter ended 31" March, 2016 being the balancing
figure between the audited figures in respect of the full financial year and published year to date
figures up to the third quarter of the current financial year which were subject to limited review
by us.
For S.C. Vasudeva & Co,
Chartered Accountants
Firm Reg. No.000235N
Ludhiana
9” May, 2016