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CORPORATE OFFfCE : 8th FLOOR, EXPRESS TOWERS, NARIMAN POINT, MUMBAI - 400 021. (lNDlA)
TEL. : (91-22122885959 FAX: (91-22122886393 e-mail:jbf@vsnl.com lnternet site : http:/Attww.jbfindia.com

Ref No. : JBF/SECTL/SE

lAfl I

22"d Novemb

er.2016

The Secretary
Bombay Stock Exchange Limited
Pheroz Jeej abhoy Towers,
Dalal Street,
Mumbai, Maharashtra 400 001.

Sir/Madam,

Sub : Financial Results

In Compliance with Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements)

Regulations, 2015, please find enclosed herewith Unaudited Standalone Financial Results for the
quarter and half year ended on 30th Septemb er, 2016, approved by the Board of Directors of the
Company in their meeting held on22nd Novemb er,2016.

Kindly acknowledge the receipt of the same.

Thanking you,

Yours Faithfully,
JBF' INDUSTRIES

F,OT

LIMITED

MRS. UJJWALA APTE

COMPANY SECRETARY

REGD. OFFICE : SURVEY NO. 273, VILLAGE ATHOLA, SILVASSA-396 230. (lNDlA)
TEL. : +91 -0260-2U2745146,2643861/62 . FAX : +91-0260-2642297 E-mail : admin@jbfmail.com
(lso 9001, 14001, 18001 cERTIFTED) CtN ' 199999DN1982p1C000128

,i-?..

,:::,

CHATURVEDI ffireSHAH

Chortered Accountonts
'aa:

INDEPENDENT AUDITOR'S REVIEW REPORT

To,
The Board of Directors,
JBF lndustries Limited

1.

We have reviewed the accompanying Statement of Standalone Unaudited

Financial Results ("the statement") of JBF Industries Limited (,,the
Company") for the quarter and half year ended 3oth September )016,
attached herewith, being submitted by the Company pursuant to the

requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015. This statement is the responsibility of the
Company's Management and has been approved by the Board of Directors.
Our responsibility is to issue a report on the statement based on our review.

2.

Our review has been restricted to the figures shown in the column headed "3
Months ended 30.09.16" and "Half Year ended 30.09.16'. Figures shown in
the column headed "Corresponding 3 Months ended 30.09.15" and "Hatf year
ended 30.09.15" are as provided by the management of the Company.

3.

We conducted our review in accordance with the Standard on Review

Engagement (SRE) 2410, "Review of tnterim Financiat lnformation pertormed

by the lndependent Auditor of the Entitf' lssued by the Institute of Chartered
Accountants of India. This standard requires that we plan and perform the
review to obtain moderate assurance as to whether the financial statements
are free of material misstatements. A review is limited primarily to inquiries of
Company personnel and analytical procedures, applied to financial data and
thus provides less assurance than an audit. We have not performed an audit
and accordingly, w do not express an audit opinion.

4.

Emphasis of Matter
(i) Trade receivables amounting to Rs. 5152lacs due from parties in respect
of which Company has initiated legal proceedings and a provision of Rs.
3625 lacs has been considered sufficient by the management.

(ii) Inter-Corporate Deposits and interest accrued and due thereon

aggregating to Rs.9693 lacs due from certain parties in respect of which
the Company initiated legal proceedings (including winding up petitions
against few of them) have been considered good for recovery by the
management in view of securities wherever available, personal guarantee
of promoters of borrowers Company etc and no provisions for doubtful
debts has been considered necessary.

The matters described in paragraph 4 (i) & 4 (ii) above have uncertainties related to
the outcome of the legal proceedings.

714-715, Tulsiani Chambers,212, Nariman Point, Mumbai- 400 02'1,India. Tel.:

.cas.ind.in

Ahmedabad

I Bengaluru I Delhi I Jamnagar

+g1 ZZg0Z1g500

Fax:+g1 22 3021 g5g5

ffi
ffi

CHATURVEDI EISHAH

Chortered Accountonts
ffi
ffi

5.

Based on our review conducted as above, read with our comments in

paragraph 4 above, nothing has come to our attention that causes us to
believe that the accompanying Statement, prepared in accordance with
applicable Indian Accounting Standards and other accounting practices and
principles generally accepted in India, has not disclosed the information
required to be disclosed in terms of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI
Circular No. CIR/CFD|FAC16212016 dated stn July, 2016, including the
manner in which it is to be disclosed, or that it contains any material
misstatement.
For Ghaturvedi & Shah
Chartered Accountants
(Firm Registration No. 101720W)

KYry
Si *u*u"
-,roeAl \i
jg

it

R. Koria
Partner
Membership No. 35629

W--^g

Place : Mumbai
Dated : 22nd Novemb er, 2016

Continuation sheet...

Continuation Sheet........

JBF INDUSTRIES LIMITED

JBF INDUSTRIES LIMITED

Survey No. 273, Village: Athola, Silvassa, ( D & NH)
CIN : L99999DN1982PLC0001 28
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 3OTH SEPTEMBER, 2016

Rs.In Lacs

share data
Half Year Ended
Year to date
Year to date

Quarter ended
3 Months
ended
30.09.16
1

90,025
87

103,261

95
102,010

74,876
(1 18)

205,051

188,653

90,112

220
205,271

197
188,850

77,403

58,609

152,279

137,855

118

14

(1,087)

(2,956)

3,829

(4,043)

(10,902)

d) Employee benefits expense

2,125

2j34

2,022

4,259

4,026

e) Depreciation and amortisation expense

2,445

2,456

2,513

4,901

5,024

f) Excies Duty on Sales

8,711

7,913

6,958

16,624

15,794

g) Other Expenses

11,668

10,679

9,288

22,347

22.670

Total Expenses

98,620

97,747

83,233

196,367

174,505

4,641

4,263

6,879

8,904

14,345

927

947

785

1,874

1,561

5,568

5,21O

7,664

10,778

15,906

3,545

4,082

5,303

7,627

9,849

299

1,750

12

2,568

2,310

829

611

3,139

3,489

2,310

829

611

3,139

3,489

125

fotal Income from operations (a+b)

2 Expenses
a) Cost of materials consumed
b) Purchases

of Stock- in- trade

c) Changes in Inventories of Finished goods

and Stock -in- process

Profit from Operations before Other Income, Finance costs, Exchange

Difference & Exceptional ltems (1-2)

4 Cther Income

Profit from ordinary activities before finance costs, Exchange

Difference & Exceptional ltems (3+4)

6 a) Finance Costs (Net) (Refer note no.-S)

b) Exchange Difference & Derivative Loss/(Gain) (Net)
7

ended 30.09.16 ended 30.09.15

30.09.15

101 ,915

103,136

b) Other Ooeratino lncome

Corresponding 3 figures for the figures for the

current period current period
Months ended

Particulars
Income from Operations
a) Sales from operations

3 Months
ended
30.06.16

Profit from ordinary activities after Finance costs & Exchange

Difference but before Exceptional ltems (54)

(287)

38

8 Exceptional ltems

Profit from Ordinary Activities before Tax (7-8)

10 Tax Expenses (lncluding Deferred Tax) (Net)

1,196

288

1,042

1,2'16

Net Profit from Ordinary Activities after Tax (9-10)

12 Extraordinary ltem
13 Net Profit for the Period n1-121

1,114

983

323

2,097

2,273

1,114

983

2,273

11

(1

54)

(30

(30

323
(17)

2,097

After Tax)
15 Total Comprehensive Income ( After Tax) (13+14)

1,084

9s3

306

2,037

2,238

16 Paid Up Equity Share Capital

8,187

8,187

6,550

8,187

6,550

1.20

0.49

2.56

3.47

14 Other Comprehensive Income (

(60)

(35)

(Face Value of Share Rs.10/. each)

17 Earning Per Share ( Basic & Diluted) - Before Other Comprehensive

income (Not Annualised)

1.36

Continuation Sh99t........

JBF INDUSTRIES LIMITED

Statement of Assets & Liabilities as at 30th September 2016 is as under

Non-current assets:
(a) Property, plant and equipment
(b) Capital work-in-progress
(c) Investment property
(d) Other Intangible assets
(e) Financialassets
(i) Investments
(ii) Others
(D Other non-current assets

Current assets
(a) lnventories
(b) Financialassets

36,924

(i)

Investments
(ii) Trade receivables
(iii) Cash and cash equivalent
(iv) Bank balances other than (iii) above
(v) Loans
(vi) Others
(c) Cunent Tax Assets
(d) Other current assets

20

75,914
543

32,495
51,513
7,995
3,673

4,002

EQUIW AND LIABILITIES

Equity
(a) Equity share capital
(b) Other equity

Liabilities
Non-current liabilities
(a) Financial liabilities
(i) Borrowings
(ii) Other Financial Liabilities
(b) Provisions
c) Deferred tax liabilities (net)

liabilities
a) Financial liabilities
(i) Borrowings
(ii) Trade Payables
(ii) Other Financial Liabilities
) Other Current liabilities
) Provisions
Current tax liabilities (net)

TOTAL

. JBF INDUSTRIES

Continuation Sh99t........

LIMITED

Notgc I
1 The Eoard of Dreclors approved the above mentioned financial resilb, duly revieryed by audit commlttee at lts mgeting hetd on 22nd November,2016 and it8
2 The Stiatutory auditors of the Company have caried out a Limited Revlw of ths above rEsultB.
3 The Company AdoptEd the Indian Accounting Standard (" Ind AS') and sccordlngly these financial r63ults have been prepared in accordanc with the recognition
and measurement p.inciples laid down in Ind AS 34 -' Inlerim Financial Rporting" prsscribed under 8ec{ion 133 of the Companies Act, 2013. Thes tinancial
results have ben preparcd in ac@rdance wilh lhe Compgnies (lndian Accounling Standard) Rules 2015 ( Ind AS) prescribed under secllon 133 ot the Companies
Ad, 20'13. The date of transition to Ind AS is 1st April, 2015. ThE Figur$ for the quarler and half year ended 30th Septembr 2015 are also Ind AS Compliant.
They have not been subjed to llmlted REvlw or audit. Ho$rsvr, lhe management has exercised the ncessary du diligence lo ensure lhat lhe financlal rsults
ptovide a lrue and fair view of th Company's affair8. ThE Company will provide a reconciliation ofits equity forlhe previous year ended 31sl Marcfi,2016 atthe
time of submitting lhe audited financial statmont8 for lhe year ended 3 l sl Mar$, 201 7. These resul( have been prepared in accordance with regulation 33 of the
SEBI ( Lisling Obllgation and Disclosur Rquirements) regulation, 2015 rcad wilh SEBI circular dated sth July, 2016.

4 Reconciliation betv/en financial results as previously reported under previous GMP and

Ind AS for lhe quarter and half year ended 30th September 20'15 :

Particulars

6 Months
3 Months ended
30.09.15

(i)

Net profit as per previous lndian GAAP

[ii) Effect of measurinq preference shares initiallv at fair value and subseouentlv at amortized cost-Finance
(iii) Fair Valuation for forward contracts
(iv) Fair Valuation for financial instruments
(v) Acturial Gain/Loss on defined benefit plans considered as Other Comprehensive Income
(vi) Deferred Tax imoact on lnd AS adiustments

Net Profit before Other Comprehensive Income as per Ind As

5 Finance Costs (Net) consist of the followings

period ended

(292)

30.09.15
2.557
(526)

(23)

154)

37
26
32

146
54
196

323

2,273

543

Particulars

3 Months
ended
30.09.16

A) Interest & Other Borrowinq cost

B) Applicable Net loss on foreiqn currencv transaction
Finance Cost (A+B)
Less : Interest Income
Finance Costs (Net)

5.568

40
5,608

2,063
3.545

3 Months
ended
30.06.16
5.260
696
5,956

1.874
4.082

Rs. In Lacs
Year to date

Year to date

Corresponding 3 figures
for the figures for the
Months ended
current period current period
30.09.15
ended 30.09.16 ended 30.09.{5
5,352

10,828
736
11.564
3.937
7.627

949
6.301
998
5.303

10.062
1.601

11.663

1,814
9,849

lmplementation otthe'1.25 Million Tonnes per snnum green feld PTA projed at Mangalore, being xecuted through Siep down subsidiary JBF Petrochemicals Ltd
i8 proceeding satisfactorily.ThE projEc{ i8 expeded to be completed by the nd of current financial year.
In ths opinion of lhe management, th company ls sngaged only in ihe business of producing polyestr based produds. As such, there are no separstE repodable
segmenls.
Figures in rEspEcl ot the previous period have been regroupd or reananged or reclassified wfreve. ncessary to maks them comparable.

For & on Behalf of the Board of Directors

\r-1

BHAGIRATH C. ARYA
CHAIRMAN

Place: Mumbai
Date : 22nd November,2016

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