grandeur products limited...ref: scrip code: s3923s, regulation 30 & 33 of sebi (lodr)...

GRANDEUR PRODUCTS LIMITED GRANDEUR # 1-62-192, 3rd Floor, Dwaraka Avenue, Kavuri Hills, Madhapur, Hyderabad -- 500033.

30·h July, 2020

To, Corporate Relationship Department, BSE Limited, Phiroze Jeejeebhoy Towers, Dala l Street, Mumbai -400001.

Dear Sir/Madam,

CIN :L 15500TG1983PLC110115

Sub: Submission of Audited Financial Results Ref: SCRIP CODE: S3923S, Regulation 30 & 33 of SEBI (LODR) Regulations, 2015

With reference to the subject mentioned above, please find the enclosed copy of the fo llowing documents as per Regulation 33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015:

1. Audited Financial Resu lts (Standalone and Conso lidated) of the Company for the Fourth Quarter and Financial Year ended on 31" March, 2020.

2. Standalone and Consolidated Statement of Assets and Liabilities for the Financia l Year ended on 31" March, 2020.

3. Standalone and Consolidated Cash Flow Statement for the Financial Year ended on 31" March, 2020.

4. A declaration to the effect that the Auditors have given unmodified opinion with respect to Audited Financial Resu lts (Standa lone and Consolidated) for the year ended 31" March, 2020, pursuant to SEBI Circular No. CIR/CFD/CMD/56/2016 dated 27th May, 2016.

This is for your information and records.

Regards, For Grandeur Products Limited

°V~ ~~--

Neha Dwivedi Company Secretary & Compliance Officer Membership No. A47381 .

Tel: +91 4048526655, E-mail: [email protected] Web: www.grandeurproducts.com

GRANDEUR PRODUCTS LIMITED

Registered Office: H. No. 1-62- 192, 3rd Floor, Dwaraka Avenue, Kavuri Hills, Madhapur, Hyderabad, Tclangana- 500033 (CIN: L15500TG1983 PLC I 101 15)

Sta tement Of Audited S tandalone Financial Results For T he Q uarter & Year Ended Ma rch 31 , 2020 Amount in Rs. Lakhs except EPS

Particulars Q uarter ended Q uarter ended Q uarte r ended Year ended Year ended

(Refer notes below) 3 1st Mar, 2020 3 1st Dec, 2019 31stM ar,2019 3 1st Ma rch, 2020 31st M arch, 201 9

Audi ted Un-audited Aud ited Audited Audited

1 Revenue from Operations (net) 3.42 - 380.20 3.42 380.20 2 Other Income (0.00) 0.0 1 0.98 2.87 15.0 1 3 Total income ( 1+2) 3.42 0,01 38 1.18 6,29 395.22

4 Ex penses (a) Cost of materials consumed -(b) Changes in inventories -(c) Purchase of Stock-in-trade (1 4. 19) 153.08 (14.19) 153.08 (d) Employcc benefits cxpense 7.92 5.60 10.60 24.73 30.17 (e) Finance costs 29.85 26.25 36.79 108.60 126.87 (I) Depreciation and amortisation expense 0.54 0.46 (0.23) 1.91 1.67 (g) Other expenses 7.39 12.07 14.08 55.59 34.88

5 Tolal expenses 31.51 4438 2 143 1 176.64 346.68

6 Profi t before tax (28.09 (44 37 166.87 (1 70.35 48.55

7 Tax Expense - Current tax 8.85 8.82 - Prior Year Income tax expenditure 0.60 0.60 - Mat credit entitlement (S.43) (5.43) - Dcferred Tax (0.40 (0.08) 27.80 (0.48) 19.58

8 Profit I (Loss) for Ihe period (5-6) (27.69 (443 0 135.05 169.87 24.98

9 Other Comprehens ive Income (A) (i) items that will not be reclassified to profil or loss (28.73) ( 10. 16) (6.92) (26.74) (103 .09) (ii) Income tax relating to items Ihat will not be reclassified to

(0.08) 7.33 2.78 10.72 profit or loss 2.78 (8) (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items tha t will be reclassified to profit or loss

Tota l Other Comprehensive income (25.95) (10.24 0.41 (23.96) (9237

10 Total Comprehens ive Income (7+8) 53.64 54 .54 135.46 193.83 6738

II Earnings per share (a) Basic (0.87) (0.20) 0.61 (0.87) 0.11 b) Diluted (0.87) 10.20) 0.61 (0.87 0. 11

I. The above financial statements are prepared in accordance with the Indian Accounting Standards (Ind- AS) as prescribed undcr Section 133 of the Companies Act, 20 13 read with Rulc 3 of the Companies (Indian Accounting Standards) Rules, 20 15 and Companies (Indian Account ing Standards) Amcndment Rulcs, 20 16.

2. The above Financial Results havc been Reviewed by the audi t committee are considered and approved by the Board of Directors at its mccting held on 30th July, 2020.

3.Figures have been regrouped and rearranged wherever considered necessary in order to make thcm comparable with those of the current period. 4.The Company operates in a single segment and the results pertain to a single segment. 5.The Ind- AS financial results are reviewed by the statutory auditors of the company as per Regulat ion 33 SEBl (Listing obligations and disclosure) Regulations, 2015.

6. Figures for the quarter ended 3 1 st March, 2020 are the balancing figures betwccn the audited figures published nine months ended to date figures upto the third quarter of the relcvant period. -.

&fOd~ By and on behalf of the Board

0 For Gran~\r : od UCfS LI led

t!J r "0 _ . vU:; ~umar Deekonda Date: 30.07.2020 c: 3

Place: Hyderabad

~*:P Wh ole T ime Director

(DIN: 06991 267)

G RANDEUR PRO DUCTS L IMITED

Registered Office; It No. 1-62- 192, 3rd Floor, Dwarnka Avenue, Kavuri HiJls, Madlmpur, Hyderllbad, Telangana- 500033 (CIN: L1 5500TG I983 PLC II OI 15)

Statement Of Consolidated Financial Results For The Quarter & Year Ended March 31 , 2020 All the Amt's In INR Lakhs except EPS

I'articulars Quarter ended Quarter ended Quarter ended Year ended Year ended

(Refer notes below) Mar 31, 2020 Dec3I , 2019 Mar 31 , 2019 March 31, 2020 Mareh 31 , 2019

Audited Un-audited A udited Audited Aud ited

I Revenue from Operations (net) 1,756.01 1,242.37 2,378.43 9,868.50 10,629.23 2 Other Income 14.19 16. 73 9. 70 35.33 31.09 3 Total income (1+2) 1,770.19 I 259.11 2388.12 9903.82 10,660.31

4 Expenses (a) Cost of materials consumed - -(b) Changes in inventories (1 ,046.05) 514.40 (1 ,718.37) 1,050.05 (3,057.38) (c) Purchase of Stock-in- trade 2,302.89 559.21 3,299.43 5,63 1.94 9,933.69 (d) Employee benefit s expense 369.39 361.07 473 .23 1,500. 13 1,622 .59 (e) Finance costs 179.58 158.58 11 5. 15 560.11 356.79 (0 Depreciation and amortisation expense 6.93 6.35 8.22 29.70 34.28 (g) Other expenses 203.03 9 1.1 5 95.86 1,077. 19 1,283.57

Total expenses 2,015.78 1,690.76 2,273.52 9,849.13 10,173.55

5 Profit before non-controlling interest/share in net profit/(Ioss)

(245.58) (431.65) 114.60 54.70 486.76 of associate

6 Share in net profit/(Ioss) of Joint venture (5.40) (7.00) (7.88) (27.13) (27.45) Share in net profit/(Ioss) of associate 248.32 (206.48) - - -

7 Profit before tax 2.66 1645.\3 106.72 27.57 459.31

S Tax Expense - Current tax (34.94) (32.42) (I S7.24) 38.93 102.53 - Prior Year Income tax expenditure (4.54) - 0.60 (4.54) 0.60 - Mat credit entitlement (14.0S) 81.44 (I S. 69) (3S.93) (IS.69) - Deferred Tax 11.17 (O.OS) 11.14 11.09 4.05

9 Profit I (Loss) for the Ileriod (5-6) 39.73 (694.07 300.91 21.02 370.81 10 Other Comprehensive Income

(A) (0 Items that will not be reclassified to profit or loss (29.97) (10. 16) (6.91) (27.9S) (103.0S) (ii) Income tax relating to items tlmt will not be reclassified to

(0.08) 7.33 2.78 10.72 profit or loss 2.78 (B) (i) Items that will be reclassified to profit or loss - -(ii) Income tax relating to items that will be reclassified to profit or - - -

-Total Other Comprehensive income (27.19) _ (10,24) 0.42 (2S,20) (92,36)

II Total Comprehensive Income (7+8) 12.54 (704.31 30 1.33 14.IS 278.46 Attributable to

Shareholders of the Company 12.54 (704.31) 301.33 (4,IS) 278.46 N Oll controlling Interest - - - - -

12 Other Equity - - - 2,609.22 2,603.02

13 Eamings per share (a) Basic 0.09 (3.11) 1.55 0.09 1.86 (b) Diluted 0.09 (3,11) 1.55 0.09 1.86

I. The above financial statements are prept1Ted in accordance with the Indian Accounting Standards (Ind- AS) as prescribed under Section 133 of the Companies Act, 20 13 read with Rule 3 of the CompMies (Indian Accoullling Standards) Rules, 201 5 and Companies (Indian Accounting Standards) Amendment Rules, 2016.

2. TIle above Financial Results have been Reviewed by the audit committee are considered and approved by the Board of Directors at its meeting held on 30th July, 2020

3. The above Financial Results includes Financial of Subsidiaries: A. Tierra Agro Tech Private Limited B. Tierra Seed Science Private Limited C.Tidas Agrotech Private Limited(Joint Venture)

4. TIle proposed merger for Tierra Agro Tech Private Limited and Xylem Seeds Private Limited has got approval from NCLT order dated 20-08-2019 5 .Fi~\lIres have been regrouped and rearranged wherever considered necessary in order to make them comparable with those of the current period. 6.TIle Company operates in a single segment and the results pertain to a s ingle segment. 7.Thc Ind- AS financial results are reviewed by the statutory auditors of the company as per Regulation 33 SEBI (Listing obligations and disclosure) Regulations, 201 5.

8. Figures for the quarter ended 31st March. 2020 are the balancing figures between the audited fi gures published nine months ended to date fi gures upto the third quarter of the relevant period. -

~(OdV~ By and on belmlf of the Board

0 rO'Grn"r\\;~

<IJ ... -0 - ' VIj~~I~r Deekonda C 3

~ * ~ Whole TIme Diredor

Date: 30.07.2020 (DIN: 06991267) Place: Hyderabad

-

Grandeur Products Limited

Standalone Statement of Assets and Liabilities as on 31·03·2020 Amount in Rs. Lakhs

Particulars As at 31.03.2020 As at 31.03.2019 Audited Audited

I Asscts Non·Current Asscts

a) Property,Plant and Equipment 3.08 4.70 b) Intangible assets 300.00 300.00 c) Financial Assets

(i) Investments 1,937.36 1,537.36 d) Other NOli Current Assets 32.87 32.87 e) DefTered tax Asset (Net) 5.22 1.96

Total Non-Current Assets 2,278.53 1,876.89 Current Assets

a) Invcntories . .

b) Financial Assets i) Investments 39.35 66.09 ii) Trade Receivables 182.06 300.20 iii) Loans 3,51 1.44 4,003.81

c) Cash and cash equivalents 1.9 1 8.50 d) Othcr current assets 179.58 180.63

Total Current Assets 3,914.33 4,559.23

Total Assets 6,192.86 6,436.12

" Equity and Liabilities

Equ ity a) Share Capital 2,23 1.20 2,23 1.20 b)Other Equity 2,356.95 2,550.78

Total Equity 4,588.14 4,781.97 Liabilities

Non· CUHcnt liabilities: (a) Financial Liabilities

i) Borrowings 1,430.99 1,250.00 (b) Deferred Tax Liabilites . .

Total Non·Current Liabilities 1,430.99 1,250.00 Current liabilities (a) Financial Liabilities

a) Borrowings 11 9.48 162.84 b) Trade payables 19.35 159.7 1 c) Other financial liabilities 32.58 72.78 d) Short Tenn Provisions 2.3 1 8.82

Total Current liabilities 173.72 404.14 Total Equity and Liabilities 6,192.86 6,436.12

. By and on behalf of the Board

,ffi.) rod Vet; Fo' GcandC"'E:d

0 <ZJ (' -0 _ . Vijay Kum Deekonda c: 3

Place: Hydernbad

~* 3J Whole Time Director

Date: 30.07.2020 (DIN: 06991267)

-

Grandeur Products Limited Consolidated Statement of Assets and Liabilities as on 31-03-2020

All the Amt's inlNR LakllS Unless Specified Particulars As at 31.03.2020 As at 31.03.2019

Audited Audited I Assets

Non-Current Assets a) Property, Plant and Equipment 90.84 11 0.98 b) Intangible assets 5,262.65 4,116. 15 b) Goodwi ll on Consolidation 3,03 1.07 1,725.25 c) Financial Assets -

(i) Investments 19.48 1,182.76 d) Other Non Current Assets 82.26 1,488.09 e) Deffered tax Asset (Net) - 16.93

Total Non-Current Assets 8,486.31 8,640.16 Current Assets

a) Inventories 6,346.22 4,317.83 b) Financ ial Assets

i) Investments 39.35 66.09 ii) Trade Receivables 3,598.95 2,9 15.39 iii) Loans - -

c) Cash and cash equivalents 311.67 14. 19 d) Other current assets 296.22 427.03

Total Current Assets 10,592.41 7,740.54

Total Assets 19,078.71 16,380.70

11 Equity and Liabilities

Equity a) Share Capital 2,231.20 2,231.20 b)Other Equity 2,609.22 2,603.02

Total Equity 4,840.41 4,834.22

Liabilities Non - current liabilities: (a) Financial Liabilities

i) Borrowings 1,430.99 1,250.00 (b) Provisions 47.43 36.42 (c) Other Non·Current liabilities 275.53 246.24 (d) Deferred Tax Liabilites 55.71 Total Non-Current Liabilities 1,809.66 1,532.67

Current liabilities (a) Financial Liabilities

a) Borrowings 4,755.22 2,1 13.40 b) Trade payables 5,401.03 3,058.88

c) Other financial liabilities 1,808.42 2,930.51

d) Short Tenn Provisions 463.97 1,911.03

Total Current liabilities 12,428.64 10,013.81

Total Equity and Liabilities 19,078.71 16,380.70

...:.. - .

~{Od1J~ By and on behalf of the Board

For Grandeur Products Lim' ed

0 ~L,. <IJ r-.., - ' c 3 VijaY~~,r Deekonda

Date: 30.07.2020 ~*~ Whole Time Director Place: H yderabad (DIN: 06991267)

GRANDEUR PRODUCTS LIMITED Standalone Cash flow statement for the year ended 31 sf March 2020

Alilhe Ami's in INR Lnkhs Unless Specified

Particulars As a t As at

31-03-2020 31-03-2019 A. Cash Flows From Operating Activities: Net profit before taxation, and extraordinary items ( 170.35) 48.55 Adjusted for: Interest Paid 108.60 126.87 Interest Income - ( 11 .27) Profit on Redemption of Mutual Funds - (2.90) Revaluation of Investment -Dividend Income (0.16) (0.77) Mise Income (Net) - -Rent Received - -Depreciation 1.9 1 1.67 Operating profits before working capital changes (60.00) 162. 14 Changes in current assets and liabilities

Inventories - -Trade Receivables 118.15 (300.20) Other Current assets 1.05 136.99 Loans 492.37 (2,476.06)

Other Non Current assets - 10.29 Borrowings (43.36) 112.84 Trade Payables (140.36) 155.54 Other Financial Liabilities (40.20) 35.08 Short Tenn Provisions (6.50 -Cash generated from operations 321.1 5 (2,163.38)

Income tax paid - 0.60 Cash used(-)/(+)gcncratcd from opcrating activities (a) 321.15 (2,163.97)

B. Cash Flows From Investing Activities: Purchase of fixed assets and change in capital wip (0.30) (0.11 ) Purchase of Investment (400.00) ( 1,178.95) Dividend Income 0.16 0.77 Rent Received - -Profit on Redemption of Mutual Funds - 2.90 Interest Income - 11.27 Cash uscd(-)/(+)generatcd in investing activities (b) (400.14) (1,164.11)

C. Cash Flows From Financing Activities: Proceeds from shares - 2,680.00

Borrowings made during the year 180.99 750.00 Interest paid (108.60 . (126.87 Cash uscd(-)/+(generated) in financing activities (c) 72.39 3,303 .13 Net increasc(+)/decrease (-) in cash and cash equivalents (a+b+c) (6.60) (24.96) Cash and cash equivalents at the beeinnine of t he year 8.50 33.46 Cash and cash equivalents at the end of the year 1.91 8.50 Reconciliation of cash and cash equivalents Balances with banks 1.91 6.54 Cash-ill-hand - 1.97

Cash and Cash Equiva lent as per Cash Flow Statement 1.91 8.50

By and on behalf of the Board

6){Od~ For Gr~:u: Products Imit,d

0 (1J .-"tJ _ .

~4~Kumar Dcekonda C 3 Place: Hydcrabad

~ *:P Whole Time Director Date: 30.07.2020 (DIN: 06991267)

--=

Grandeur Products Limited Consolidated Cash flow statement for the period ended 31st March 2020

All the Amt's in INR Lakhs Unless Specified

Particu lars As at As at

31-03-2020 31-03-2019 A. Cash Flows From Operating Activities: Net profit before taxation, and extraordinary items (126.55) 494.13 Adjusted for : - -Finance Charges - -

Interest Paid 538.87 319.62 Interest Income (0.65) (10.36) Profit on Redemption of Mutual Funds - (2.90) Revaluation of Investment - -Dividend Income (0.16) (0.77) Rent Received - -Depreciation 29.70 34.28 Operating profits before working capital changes 441.22 834.00 Changes in current assets and liabilities

Inventories (1,843.25) (3,013.13) Trade Receivables (683 .97) (2,520.16) Other Current assets 159.98 (1,206.48) Loans 492.37 -Other Non Current assets 374.42 (1,452.59) Borrowings (43.36) -Trade Payables 2,127.31 1,973.08 Other Financial Liabilities (1,130.23) 904.29 Provisions (1,069.27) 1,285 .02 Cash generated from operations (1,174.79) (3,083.85) Income tax paid - 0.60

Cash used(-)/(+)generatcd from operating activities (a) (1,174.79) (3,084.45) B. Cash Flows From Investing Activities: -Purchase of fixed assets and change in capital wip 4.17 (52.41) (Purchase)/Proceeds from Investments (451.93) (6.27) Dividend Income 0.16 0.77 Rent Received - -Profit on Redemption of Mutual Funds - 2.90 Interest Income 0.65 10.36 Net cash used in investing activities (446.95) (44.64) C. Cash Flows From Financing Activities: Changes in Share Capital - 2,680.00 Changes in Long Term Liabi lities (478.07) 418.83 Changes in Borrowings 2,876.91 224.50 Interest paid (538.87) (319.62)

-Net cash generated in financing activities 1,859.96 3,003.71 D. Net increase I (decrease) in cash and cash equivalents 238 .22 (125.38) E. Cash and cash equivalents at the beginning of the year 73.44 139.58 Cash and cash equivalents at the end of the year 311.67 14.19

Reconciliation of cash and cash equivalents Balances with banks 311.67 12.23 Cash-in-hand - 1.97 Cash and Cash Equivalent as per Cash Flow Statement 311.67 14.19

,f.%)(OdlJ~ By and on behalf of the Board

0 ~ <:::. For Grandeu roducts mited c 3

~ *~ Vijay K 18r Deekonda Date: 30.07.2020 Whole Time Director Place: Hyderabad (DIN: 06991267)

RAMASAMY KOTESWARA RAO AND CO LLPChartered Accountants

SRI RAMCHANDRA ARCADE, D.No.8-2-293/82/JIII/573/M/1st Floor, Road No.82, Jubilee Hills, Hyderabad 500096 Ph.23394982/85

E-mail: [email protected], Website : www.rkandco.in

And Review Of Quarterly Financial Results

To The Board Of Directors Of Grandeur Products Limited Opinion We have audited the accompanying Statement of Standalone Financial Results of M/s. Grandeur Products Limited st

submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and

In our opinion and to the best of our information and according to the explanations given to us, the statement: a. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and

issued thereunder and other accounting principles generally accepted in India of the net loss and total comprehensive income and other financial information of the Company for the three months and year ended March 31st, 2020. Basis for Opinion

d under

Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India

under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities

obtained by us is sufficient and appropriate to provide a basis for our audit opinion. Managem

has been compiled from the related audited Interim condensed standalone financial statements for the year ended March 31st

of the Standalone Financial Results that give a true and fair view of the net loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.




In preparing the Standalone Financial Results, the Board of Directors are responsible for assessing the

and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the financial reporting process of the Company.

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results as a whole is free from material misstatement, whether due to fraud or error, opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.

by the Board of Directors.

the requirements specified under Regulation 33 of the Listing Regulations.

based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a

closures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the

the Company to cease to continue as a going concern.

disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

express an opinion on the Standalone Financial Results. Materiality is the magnitude of misstatements in the Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone




Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Results. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. Other Matters The Annual financial results include the results for the quarter ended 31 March 2020 being the balancing figures between the audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year.

For Ramasamy Koteswara Rao and Co LLP. Chartered Accountants FRNO.010396S/S200084 R Radhakrishnan

Place: Hyderabad Partner Date: 30-07-2020 M.No.020827

UDIN: 20020827AAAAAC6142




And Review Of Quarterly Financial Results

To The Board Of Directors Of Grandeur Products Limited Opinion We have audited the accompanying Statement of Consolidated Financial Results of M/s. GRANDEUR PRODUCTS LIMITED

March 31st

submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports of other auditors on separate financial statements/ financial information of subsidiaries referred to in Other matters section below, the Consolidated financial results for the year ended March 31st, 2020: (i) includes the results of the following entities:

a) Grandeur Products Limited Parent company b) Tierra Agrotech Private Limited - Wholly owned subsidiary company c) Tierra Seed Science Private Limited Wholly owned subsidiary company d) Tidas Agrotech Private Limited (Joint Venture)

(ii) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and (iii)

rules issued thereunder and other accounting principles generally accepted in India of the consolidated net profit and consolidated total comprehensive income and other financial information of the Group for the three months and year ended March 31st, 2020.

Basis for Opinion

the Audit of the Consolidated Financial Results section of our report. We are independent of the Group in

together with the ethical requirements that are relevant to our audit of the Interim Consolidated Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical

evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Board of Directors, has been compiled from the audited interim consolidated financial statements. The

Financial Results that give a true and fair view of the consolidated net profit and consolidated other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.




The respective Boards of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Company, as aforesaid. In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Boards of Directors either intend to liquidate their respective entities or to cease operations, or have no realistic alternative but to do so. The respective Boards of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Audit of the Consolidated Financial Results Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results as a whole,

t that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Consolidated Financial Results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.

by the Board of Directors.

appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.

asis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material u




in the Consolidated Financial Results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtevents or conditions may cause the Group to cease to continue as a going concern.

e disclosures, and whether the Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

within the Group to express an opinion on the Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Consolidated Financial Results of which we are the independent auditors. Materiality is the magnitude of misstatements in the Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Consolidated Financial Results. We communicate with those charged with governance of the Company and such other entities included in the Consolidated Financial Results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. Other Matters We did not audit the financial statements/ financial information of Tidas Agrotech Private Limited included in the consolidated financial results, whose financial statements/ financial information reflect loss of Rs.27.13 Lakhs for the year ended March 31st, 2020 respectively. These financial statements/ financial information have been audited, by other auditors whose reports have been furnished to us by the management and our opinion and conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of other auditors and the procedures performed

Our report on the statement is not modified in respect of the above matter with respect to our reliance on the work done and the reports of other auditors.

For Ramasamy Koteswara Rao and Co LLP Chartered Accountants FRNO.010396S/S200084 R.Radhakrishnan

Place: Hyderabad Partner Date: 30-07-2020 M.No.020827

UDIN: 20020827AAAAAB6638

GRANDEUR PRODUCTS LIMITED GRANDEUR # 1-62-192, 3rd Floor, Dwaraka Avenue, Kavuri Hills, Madhapur, Hyderabad -- 500033.

30·h July, 2020

To, Corporate Relationship Department, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-40000 1

Dear Sir,

CIN:L 15500TG1983PLC110115

Sub: Declaration Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for Unmodified Opinion.

Ref: Scrip Code 539235

DECLARATION FOR UNMODIFIED OPINION

I, Vijay Kumar Deekonda, Whole Time Director of Grandeur Products Limited, having its

registered office at H. No, 1-62-192, 3rd Floor, Dwaraka Avenue, Kavuri Hills, Madhapur,

Hyderabad, Telangana-500033 hereby declare that, the Statutory Auditors of the Company

i.e. Mr. R. Radhakrishnan, Membership No. 020827, Partner of M/s Ramasamy Koteswara Rao

and Co.LLP, have issued an Audit Report with Unmodified Opinion on Audited Financial Resu lts

(Standalone and Consolidated) for the Fourth Quarter and Financial Year Ended 31" March,

2020.

This Declaration is issued in compliance of Regulation 33(3)(d) of t he SEBI (LODR)

Regu lations 2015 as amended vide its circular no CIR/CFD/CMD/56/2016 dated 27'h May,

2016.

Thanking You,

Yours Faithfu lly, For Grandeur Products Limited

Vijay Kumar Deekonda Whole Time Director (DIN: 06991267)

Tel: +91 4048526655, E-mai l: [email protected] Web: www.grandeurproducts.com

grandeur products limited...ref: scrip code: s3923s, regulation 30 & 33 of sebi (lodr)...

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