RA) RAYO!

\ INDUSTRIES LI~fiTED
CIN NO.: U7120DNJ99:WLC000368

REGD. OFfiCE & FACTORY: SURVEY NO I7ll1i3 & 1771114 VILLAGE SURANGI, SILVASSA · 396 230 ( U. T OF DADRA & NAGAR HAVEL! & DAMAN &DIU)
Cortact +91 98795 04195, 99988 20661• E-maif admin surangi@rajrayon com .

PAN AAACR7820E GSTIN 26AAACR7820E1ZL

Date: 10/02/2024

To,
The Secretary NATIONAL STOCK EXCHANGE OF
BSELIMITED INDIA LIMITED
P JTowers Listing Department
Dalal Street, Fort, Exchange Plaza, 5th Floor,
Mumbai 400 001 Bandra-kurla Complex,
Bandra (East),
Mumbai- 400 051.
Comp_anyCode No.: 530699 Company Code : RAJRILTD
Dear Sir,

Sub.: Proceedings of the Board meeting held on February 10, 2024 and intimation under
Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements), Regulation,
2015

We wish to inform you that,the Board of Directors of the Company, at its meeting held
today, February 10, 2024 has inter- alia considered, approved and taken on record:

1. The Un-audited Financial Results of the Company for the quarter and nine months
ended December 31,2023.

2. Limited Review Report on the said results received from the Statutory Auditors of
the Company.

3. Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements),

Regulation, 2015, please note that, that India Ratings and Research (Ind-Ra) have
assigned the credit ratings to the Company's long term bank facilities, short term
bank facilities and Commercial Papers as mentioned below:

Facilities/Instrument Amount (in. Rating Rating actions

Cr.)
Fund-based working INR 600 IND BBB/Stable/IND Assigned
capital limit Crores A3+
Non-fund-based INR 120 INDA3+ Assigned
working capital limit Cores
 RAJ RAYON INDUSTRIES LI~fiTED
CIN NO.: U7120DNJ99:lPLC000368

REGO. OFFICE & FACTORY: SURVEY NO. 1771113 & 1 77/l/4 VILlAGE. SURANGI, SILVASSA, · 396 230 ( U. T OF OAORA & NAGAR HAVEL! & DAMAN &DIU)
Contact +91 98795 04195. 99988 20661• E-mail. adrninsurangi@rajrayon corn

PAN AAACR7820E GSTIN 26AAACR7820E1ZL

Term loan INR 1850 IND BBB / Stable Assigned
Crores
Derivative limits INR 50 INDA3+ Assigned
Crores

The aforesaid information is also being placed on the website of the Company at
https: // www.rajrayon.com/

Extract of Unaudited financial results would also be published in one English and one
vernacular newspaper as required under the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.

5.00 p.m.
Board Meeting commenced at 12.00 Noon and concluded at__

Kindly take the above information on your record and acknowledge.

Thanking you,
Yours faithfully,
For RAJ RAYON INDUSTRIES LIMITED

RAJKUMAR SATYANARAYAN AGARWAL

MANAGING DIRECTOR
DIN: 00395370

Encl.: A/a
 RAJ RAYON INDUSTRIES LIMITED
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2023
Registered office: Survey No. 177/1/3, Village. Surangl, Dist. Sllvassa, Dadra & Nagar Haveli (UT). 396 230.
Tel: 91·22-40343434, Fax: 91-22-40343400, email: [email protected], webs ite: www.rajrayon.com
CIN No. L17120DN1993PLC000368

( f In Lakh s, un ess oth erw "estated){except per equity share dato}

31st December, 30th september, 31st December, 31st December, 31st December, 31st March,
Particulars 2023 2023 2022 2023 2022 2023
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited}

1 INCOME
(a) Revenue from operations 19,534.62 17,963.18 2,600.55 52,803. 51 2,657.23 13,722.39
(b) Othe r Income 64.87 75.60 28.90 424.08 7266 44.40
TOTAL INCOME 19,599.49 18,038.78 2,629.45 53,227.60 2,729.89 13,766.79

2 EXPENSES
(a} Cost of materials consumed 16,113.01 16,652.50 2,349.03 43,976.73 2,430.78 15,316.78
(b) Purchases of Stock-I n-Trade 0 0 0 0 0
205.15
(b) Changes in Inventories of finished goods (776.40) (2,473.96) (187.26) (1,872.73 ) (222.85) (4,595.97)
(c) Employee benefits expense 305.25 283.58 15.31 837. 24 29.93 200.07
(d) finance costs 282.67 217.88 9.89 722.94 10.(5 129.68
(e) Depredation and amortisation expense (Refer Note 3) 259.23 273.53 333.82 787.43 1,002.15 1,345.63
(f) Othe r expenses 2,871.22 2,704.70 337.55 7,825.66 430.23 2,419.11
TOTAL EXPENSES 19,054.98 17,658.24 2,858.34 52,277.26 3,680.99 15,020.45

{228.89)
3
4
PROFIT BEFORE EXCEPTIONAL ITEMS ANO TAX (1·2)
Exceptional items
544.51
.
380.53
0 . .
950.34 (951.10)
0
(1,253.66}

5 PROFIT BEfORE TAX (3-4) 544.51 380.53 (228.89} 950.34 (951.10) (1,253.66)

6 TAX EXPENSE
Current Tax 0 . . . . 0

Deferred Tax (339.67) 3.67 . (332.01) . 15.98

TOTAL TAX EXPENSE (339.67) 3.67 . (332.01) - 15.98

7 PROFIT AFTER TAX (5-6) 204.84 384.2i (228.89) 61&.33 (951.10) (1,237.68)

8 Other Comprehensive Income

Items that will not be redassified to profit or loss
.
-.
Re-Measurement Gain I (Loss) on Defined Benefit Plans (O.UJ (0.13) - (0.40)
Income Tax Effect on Above 0.03 0.03 . 0.10 -
9 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD (7+8) 204.74 384.10 (228.89) 618.03 (951.10) (1,237.68)

10 Paid-up Equity Share Capital (Face Value of Re. 1/- each) 5,560.82 5,560.82 5,560.82 5,560.82 5,560.82 5,560.82
11 Other Equity 2,353.66

12 Earning Per Equity Share (Face Value of Re. 1/- each) {not annua lised ) (not oqnuolfse<ll (not annuollsed) (nolonnualiMd) (not onnuolised)
Basic (in 'f) 0.04 0.07 (0.04) 0.11 (0..17) {0.22}
Diluted (in 'f) 0.03 o.os (0.03) 0.08 (O.U ) (0.15)

See accompanyi ng notes to the financial results

Notes to the Un-Audited Financial Results for the Quarter and nine months ended December 31 ,2023

1 The above unaudited results for the quarter and nine months ended December 31, 2023 have been reviewed by the Audit Committee and approved by the Board of Directors
at their meetings held on February 10, 2024 and have been subjected to limited review by the Statutory Auditors of the Company.

2 The figures for the corresponding previous quarter I year have been regrouped I reclassified wherever necessary, to make them comparable.

3 The Management has re-assessed the depreciation for the period ended December 31, 2023 and the net block as at December 31, 2023 in accordance with the useful life of the
assets and the impact of such re-assessment has been provided in the above financial results.

4 The Management has sent letters with Board Resolutions to the In-operative bank accounts which are continuing In the name of the Company from prior to the Corporate
Insolvency Resolution Process when the current management was not in charge of the affairs of the Company for closure and awaits response from these bankers

5 The Company Is primarily engaged in a single business segment of Manufacturing & Marketing ofTextiies Yarns.

For Raj Rayon Industries Limited

Mr. Rajkumar Satyanarayan Agarwal

Managing Director

Place: Mumbai
Date: February 10, 2024
 701, Stanford, +91 (22) 62505600

BAGARIA & CO LLP Junction of S. V. Road &

Barfiwala Marg, Andheri (W)
Mumbai 400058, INDIA
bagariaco.com

Chartered Accountants

LIMITED REVIEW REPORT

To the Board of Directors

Raj Rayon Industries Limited

1. We have reviewed the accompanying statement of unaudited financial results of Raj Rayon
Industries Limited ("the Company") for the quarter ended December 31, 2023 and year to date
results for the period from April 01, 2023 to December 31, 2023 ("the Statement") attached
herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the
SEBI (Listing, Obligations and Disclosure requirements) Regulations, 2015 ('Listing regulations').

The statement, which is the responsibility of the Company's Management and approved by the
Board of Directors, has been prepared in accordance with the recognition and measurement
principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("lnd AS 34")
prescribed under Section 133 of the Companies Act, 2013, and other accounting principles
generally accepted in India. Our responsibility is to issue a report on this financial Statement based
on our review.

2. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410,
"Review of Interim Financial Information Performed by the Indep en dent Auditor of the Entity"
issued 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 misstatement. 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, we do not express an audit opinion.

3. Basis for qualified conclusion:

We draw attention to the fact that the Management is in the process to obtain details of four
inoperative bank accounts which are continuing in the name of the Company from prior to the
Corporate Insolvency Resolution Process when the current management was not in charge of the
affairs of the Company. Accordingly, we are unable to comment on the impact, if any, on the
unaudited financial results arising out of subsequent availability of such pending bank statements.

The matter stated above were also subject matter of qualification in our review conclusion on the
unaudited financial results for the quarter ended September 30, 2023, quarter and nine month s
ended December 31, 2022 and in our audit opinion on the audited financial statements for the
year ended March 31, 2023.
4. Qualified Conclusion:
Except for the possible effect of the matter specified under "Basis for Qualified Conclusion" and
based on our review conducted as above, nothing has come to our attention that causes us to
believe that the accompanying statement of unaudited financial results prepared in accordance
with applicable Indian Accounting Standards (IND AS) and other recognized accounting practices
and policies, 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 circular
issued from time to time, including the manner in which it is to be disclosed, or that it contains
any material misstatement.

For Bagaria & Co. LLP

Chartered Accountants
(Firm Registration No.113447W/W-100019)

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Arun Bagaria
Partner
Place: Mumbai Membership No. 036732
Date: February 10, 2024 UDIN: 24036732BKHHLS7143