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BSE Limited October 29, 2021
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai - 400001
Ref: H.P. Cotton Textile Mills Limited (Scrip Code: 502873)
Sub: Outcome of Board Meeting of H.P. Cotton Textile Mills Limited held on October 29, 2021
Dear Sir,
We wish to inform you that the Board of Director's in their Meeting held today i.e. October 29,
2021 has inter alia, considered and approved the Un-Audited Financial Results along with the
Limited Review Report for the quarter/half year ended September 30, 2021.
Pursuant to Regulation 33 of Securities Exchange Board of India (Listing and other Disclosure
Requirements) Regulations, 2015, please find enclosed herewith Un-audited Financial Results
along with Limited Review Report for the quarter/half year ended September 30, 2021.
The copies of the above results are also uploaded on the Company's website
https: // wvvw .hpthreads.com
The said meeting of the Board of Directors commenced at 02:30 P.M. and concluded at 03:12 P.M.
You are requested to kindly take the same on your record.
Yours Faithfully,
For H.P. Cotton Textile Mills Limited
Shubham Jain
Company Secretary and Compliance Officer
Encl: As above
\W
HP COTTON
TEXT I LE MI LLS LTD
H.P. Cotton Textile Mills Limited
(A Government of India recognised Star Export House)
Corporate Office:
F-0. The Mira Corporate Suites.
I & 2, Old lshwar Nagar. Mathura Road
New Delhi - 110065, India
T: -9' 11 26927387 49073415
91 11 41540471 /72 /73
Regd. Office & Works:
15 K.M. Stone, Delhi Road
VPO Mayar, Hisar - 125 044
Haryana, India
F: +91 11 49073410
www.hpthreads com E: 1nfo®hpthreads com CIN NO. L18101HR1981PLC012274
ISO 9001 2008
W alker Chandiok & Co LLP
Walker Chandiok & Co LLP
21st Floor, DLF Square
Jacaranda Marg, DLF Phase II
Gurgaon 122002
India
T +91 124 462 8000
F +91 124 462 8001
Independent Auditor's Review Report on Unaudited Quarterly Financial Results and Year to Date
Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (as amended)
To the Board of Directors of H.P. Cotton Textile Mills Limited
1. We have reviewed the accompanying statement of unaudited financial results ('the Statement') of H.P.
Cotton Textile Mills Limited ('the Company') for the quarter ended 30 September 2021 and the year to
date results for the period 01 April 2021 to 30 September 2021, being submitted by the Company pursuant
to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time.
2. The Statement, which is the responsibility of the Company's management and approved by the Company's
Board of Directors, has been prepared in accordance with the recognition and measurement principles
laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under
Section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in
India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant
circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the
Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements
(SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity,
issued by the Institute of Chartered Accountants of India. A review of interim financial information consists
of making inquiries, primarily of persons responsible for financial and accounting matters, and applying
analytical and other review procedures. A review is substantially less in scope than an audit conducted in
accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently,
does not enable us to obtain assurance that we would become aware of all significant matters that might
be identified in an audit. Accordingly, we do not express an audit opinion.
Walker Chandiok & Co LLP is registered
Chartered Ac countants with limited liability wit11 identification
Number AAC-2085 and its registered office
Oflices in Bengaluru, Chandigarh, Chennai, Gurgaon, Hyderabad, Kolkata, Mumbai, New Delhi, Noida and Pune at L-41 Connaught Circus, New Delhi,
110001 .India
Wa lker C hand iok & Co LLP
Independent Auditor's Review Report on Unaudited Quarterly Financial Results and Year to Date
Results of the Compa ny Pursuant to the Reg ulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 201 5 (as amended)
4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that
the accompanying Statement, prepared in accordance with the recognition and measurement principles
laid down in Ind AS 34, prescribed under Section 133 of the Act, and other accounting principles generally
accepted in India, has not disclosed the information required to be disclosed in accordance with the
requirements of Regu lation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material
misstatement.
For Walker Chandiok & Co LLP
Chartered Accountants
Firm Registration No: 00 1076N/N500013
Roh it A rora
Partner
Membership No. 504774
UDIN: 21504774AAAAJP6014
Place: New Delhi
Date : 29 October 202 1
Chartered Accountants
H.P. Cotton Textile Mills Limited
Rcgd. Officc:- Uth Km S1ont, Odhl Road, VPO- Ma.y2.11 Hit2.1, HtiryJn:1°1250.U
CIN: L1810HR1981PLC012274, Email: [email protected] Wtbtltt: \\"lvw,hpthrt:ads.coru
'rtl: +91-11--4154001, Pax: t?1- IJ.4?07J410
Statement or unaudited financial rcaulu £or the quarter and 1ix months ended 30 Sc1>1t::mlu:r 2021
fr ill /.Iii I.WI!/ di J{d!tt
Six m onth& Six months
Three months Three months Three months
ended ended Year ended
ended 30 ended 30 June ended 30
Particulars 30 September 30 September 31 March 2021
Se prcmber 2021 2021 Seprember 2020
2021 2020
/Unaudite d) IUnaudiccdl /Unaudited) (Unaudited) (Unaudited) /Audited\
Income:
I, Revenue from operation$ 3,351 3,09) 2,476 6,444 4,215 9,657
II. Other income 37 59 41 96 56 132
III Tora) income (I+ II) 3,388 3 152 2,517 6 540 4 271 9 789
IV Expenses:
Cost of m:atcrials consumed 1,448 1,370 866 2,818 1,462 3,775
Ch:mgcs in invcn1orics of finished ~oods and work-in-progress (188) (47) 36 (235) 160 (214)
flmplorcc lxncfirs expense 818 656 780 1,474 1,149 2,537
Finance cosls 66 62 68 128 128 249
Depreciation -:ind amortis3tion expense 71 68 68 139 133 27 1
Other cxllcnscs 821 652 618 1 473 1036 2,622
Tmnl cxocn1c1 {IV) 3,036 2 761 2,436 5,797 4,068 9,240
V Profi1 before 1ax (III • IVI 352 391 81 743 203 549
VI Tax expense:
- Current tftx 59 65 14 124 22 93
• Deferred tax 21 33 16 54 39 96
Total tnx cxoensc 80 98 30 178 61 189
VII Profit for the oeriod/vear IV• VI) 272 293 SI 565 142 360
Vlll Other comprchcn1ivc income
Items that will not be rcclasaifie<l to profit or Ion
Rc-mc:i1urcmcnt Qos~)/g:\in of defined benefit obli~tions . . . (22)
Income t"J.x relating ro these items th:H will not be rccbssificd to .
oroftt or loss
6
IX Total comprehensive in come for lhc period/year {comprising p rofit
and o lhcr comprehen sive income for the period/year) (VII+ VIII) 272 293 51 565 142 344
X Paid-uo couirv share caoital /face value o er , hare Ro. 10) 381 381 381 381 381 381
XI Othc rcqui(y 1 853
XII Earnings per share (face value of R s. to each) (not annu:tlised) (not annualised) (not annualised) (nor annualised) (not annualised) (annualised)
(a) llasic (R,.) 7.14 7.70 1.34 14.82 3.73 9.46
ICb\ Dilurcd Ols.) 7.14 7.70 1.34 14.82 3.73 9.46
1. 111c unaudited ftnanci1I results o f H.P. Collon Textile ?,.·f ilh Limited ("the Comp1ny'? h:wc been reviewed h)' the Audit Committee and appro\•cd by the Bo)rd of Directors at their respcc:Uve meetings held o n 29
October 2021. 'l11c s11tu1ory a.udi1ors ha.\'e carried out 1 limi1e<l rc,•icw of un:1.Uditcd fin:mcial results o f the Comp'-n}' for the quaner and six months ended 30 September 2021, in accordance with Rtgulation 33 of the
Securities and Exchange BoMd of India (Listing 111d oth er Discloiurc Rcquiremenrs) Rcguh.1ion, 20tS and have issued an unmodified , c,•iew rcpon .
2. 111c above results have been prcp:1.rcd in accord:rncc with the recognition a.nd me;uurcment principles of applicable Indian Accounting Standards Clod AS1 ;1.s notified under the Companies (Indian Accouming
S1:1nd.trds) Ruic$, 2015 (a.s :a.mended), specified under s~tion 133 of the Companies Acr, 2013.
1. In accordance with Ind AS 108, tlic Bo;ird of Directors being the chic( operacing decisio n maker of chc Company has determined its only bu siness segment viz Textile (sr,inning). Since 1he Compan)''s business is
from m:\nufacturing 11.nd ulc or 1cxtile (spinning) )nd there ace no otlicr identifiable rcport:\ble segments, the set,'fflcnt cc,•cnuc, segment results, to tal c:urying amount of segment usets, total carrying a.mount o f
SCJ.'lnenr liilhilitics, totl\l cost incurtc<l 10 i\cquirc segme nt assets, 1011! amou11l of ch:uge for dcprcct:uion during the period is as rcncctcd in the financial results .
.J. As notified ,·idc Ji:!!closurc under Regub.tion 30 o f SE.Bl (Listing Obligations and Disclosu,e Rcquircmcn1s) Rebrula1ions, 2015 dated 19 March 2019, the Compan)''S promoters have entered into a family ~cement
dated l.J March 20 191 which would result in inteMe transfcc or equity shares of the Company by and among member or 1hc Promoter Group over next r.m rc:ars (colh~cti\•ely, the "Propo$ed Family Rc-
arran1.rcmcnr"), which has pania1ly been executed and pu1i.alJ~, would be execu1ed in due course.
In continuance of the a.bo"e family 2rrnngcment, Mr. Ravindm Agarw·il, Mr. Sucendra Kumar Agarwal and r..h. Juilash Kumar Agarwal ha\'c executed another rc-arra.ngcment agreement d:i.tcd 12 February 2020,
which would result in 20 inter-sc tr.uufcr o f all equit}' sh:.ues of M r. R.a.\'indra Agarw1.I & family and Mr. Surcndra Kumar Ag:uwal & family to Mr. Kaibsh Kumar Agarwal. The proposed family re-arDngemcnt would
also cn11.il :1n indirccc acquisi1ion of shares or the Company held by cerrn.in en1ities, namel)•,Jainish Products J.&mi1cd, Sailesh Tex1ilc Manufacruring Company Limited, Achhar Jn,·cstmenu Limited and S1crcd Trading
& lnvestmcnl Co. Limited, ,.uor which belong to the Promoter Group (coUcctively, the and "Promoter group Companies'1, hr the u.me persons bclong;ng to the promoter group.
5. During the curccnt c.iua.crcr, lhc new scheme for Remission or Duties and Taxes on E..'<ported Products (RoDTEP) was introduced by Ministry or Commerce and Industry vidc no1ification dau~d 17 Augun 2021 for
eligible cxponcd goods. Accordingly the comp.in)' has recognised in Rc\'enue from operations the benefit of RoDTEP of Rs 129.08 la.khs during the quancr ended 30 September 2021, out of which Rs 45.51 b.khs
benefit p ertains to eligible expon !iales for the period from I January 2021 10 31 Ma,ch 202l and Rs 41.88 lakhs benefit pertains 10 export sales for the period from 1 April 2021 to 30Junc 2021.
6. Pursuant '° notilic:uion issued b)• Ministry of Corpora.le Affairs d1ted March 24, 2021, in respect of ch1ngcs incorporated in Schedule Ill of 1he Companies Act,2013, the figures o f the corresponding prc,·ious
period/year h:w c been rcgroupcd/rcclusified whcrc\'er necessary, to make them comp:\rable.
For HP Cotton Textile Mills Limited
Ex trector,
DIN: 02836610
Place : New Delhi
Date : 29 October 2021
H.P. Cotton Textile Mills Limited
Rcgd. Office:- 15th Km Stone, Delhi Road, VPO- Mayar, Hisar, Haryana-125044
CIN: L1810HR1981PLC012274, Email:
[email protected], Website: www.hpthreads.com
Tel: +91-11-41540471, Fax: +91-11-49073410
7 Unaudited Statement of assets and liabilities as at 30 September 2021
(( i11 /aa ,.w, t a.r ,1a1,d otlxrwi11)
Particulars As at As at
30 September 2021 31 March 2021
(Unaudited) (Audited)
ASSETS
Non-current assets
(a) Property, plant and equipment 2,264 2,080
(b) Capital work-in-progress 402 103
(c) Right-of-use assets 82 106
(d) Other intangible assets 63 74
(e) Financial assets
(i) Other financials assets 143 143
(f) Non current tax assets (net) 14 13
(g) Other non-current assets 59 51
3,027 2,570
Current assets
(a) Inventories 2,852 2,821
(b) Financial assets
(i) Trade receivables 1,535 1,382
(ii) Cash and cash equivalents 7 10
(iii) Bank balance other than (ii) above 250 320
(iv) Other financial assets 371 230
(c) Other current assets 729 814
5,744 5,577
Total assets 8,771 8,147
II EQUITY AND LIABILITIES
EQUITY
(a) Equity share capital 381 381
(b) Other equity 2,418 1,853
2,799 2,234
LIABILITIES
Non current liabilities
(a) Financial liabilities
(i) Borrowings 486 255
(ii) Lease liability 24 52
(b) Deferred tax liabilities (net) 118 64
(c) Provisions 375 274
1,003 645
Current liabilities
(a) Financial liabilities
(i) Borrowings 1,822 1,633
(ii) Lease liability 54 52
(iii) Trade payables
i) total outstanding dues of micro enterprises and small enterprises 64 80
ii) total outstanding dues of creditor o ther than micro enterprises and small 1,685 2,061
(iv) O ther financial liabilities 523 437
(b) Other current liabilities 508 768
(c) Provisions 187 193
(<l) Current tax liabilities (net) 126 44
4,969 5,268
Total equity and liabilities 8,771 8,147
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H.P. Cotton Textile Mills Limited
Rcgd. Office:- 151h Km S1onc, Delhi Road, VPO- Mayor, Hisar, Hnrynna-125044
CI N: Ll810HRl981PLC012274, Em nil: [email protected], Wcbsilc:www.hplhrcads.com
Tel: +91-11-41540471, Fax: +91-11-49073410
8, Unaudited Stotcmcnt nfcosh flow for the six months ended 30 September 2021
I ht /a(J ,.wt/JI ,111t,11td 01bmJ11
Particulars Six months e nded Six months ended
30 September 2021 30 September 2020
(Unaudited) (Unaudited)
A. Cash Oows fro m opcrnting activities
Net profit b efore tax 743 203
Adjustment for:
Depreciation and amortisation expense 138 133
Unrealised foreign exchange fluct·uation (30) (7)
Dad-debts written off 19
Intercst income (13) (12)
Interest expense 128 128
Interest and cxocnscs for fair valuation of dcoosits
Operatinl! profit before workiul! capital c hanl!CS -·
985 445
·*
Movements in working cnpitnl:
(Increase) in othcc non-currcot nssets (5) (1)
(lncrcasc)/dccre.i.sc in other financial assets (14 1) 2
(lncn.:asc) in trade receivables (154) (378)
Decrease/ (Increase) in other current assets 86 (220)
(Increase)/ decrease in inventories (31) 16
(Deere-use) in trade payables (393) (156)
Increase in other financial liabilities 38 87
(Decrease)/ Increase in other current liabilities (260) 321
Jncreasc in provisions 95 58
Cush generated from operation s 220 174
Income loxes oaid (net of refund received durini: the period) (42) 38
Net cash flow aencratcd from ooc rntine- activities 178 212
ll. Cash flows from investing ac tivities
Purchase of property, plont and equipment, including intongible assets, capital work in progress (571) (120)
and capital advances
Proceeds from fixed deposits 71 .
Interest received 11 8
Net cash flow (used in) invcetin2 activities (489) (112)
c. Cash flows from financing activities
Proceeds from long•tcrm borcowings 180 376
Repayment of long-term borrowings (85) (18)
Rcpaymen1 of short-term borrowings(net) 338 (307)
Pa)'mcnt of principal portion of lease liability (26) (24)
Payment of interest portion of kase liobility (5) (7)
Finance charges paid (94) (90)
Net cash flow uenerated from/(used in) financinf? activities 308 (70
D. Net /decrcosc)/incrcase in cash and cash equivalent• (A+B+C) (3' 30
E. Cash and CTtsh cauivalents at the bcainninsz of the octiod 10 11
F. Cash nod cash eouivalents at the end of the oe,iod ID+ E) 7 41
G. Cash and cash equivalents comprises of:
i. Balances with scheduled banks - in current accounts 6 41
ii. Cosh on hand I ·*
7 41
•r(}{mdtd ojft" 11il
Note:
'l11c above cash flow statement has been prepared under the 'indirect method' 3S set out in Ind AS 7, 'Stmcmcllt of cash nows'.
For HP Cotton Textile M ills Limited
Place : New Delhi
Date: 29 Oc1obcr 2021
