General information about company

Scrip code 532026
Name of company THE WESTERN INDIA COTTONS LTD
Class of security Equity
Date of start of financial year 01-04-2017
Date of end of financial year 31-03-2018
Date of board meeting when results were approved 13-12-2017
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 27-11-2017
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Quarter Half yearly
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited Unaudited
Segment Reporting Geographical
Description of single segment
Start time of board meeting 11:30
End time of board meeting 19:30

 

Financial Results – Ind-AS

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2017 01-04-2017
B Date of end of reporting period 30-09-2017 30-09-2017
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Part I
1 Income
Revenue from operations 78.75 171.25
Other income 17.17 36.19
Total income 95.92 207.44
2 Expenses
(a) Cost of materials consumed 0 0
(b) Purchases of stock-in-trade 68.26 144.33
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -0.46 17.97
(d) Employee benefit expense 7.18 13.86
(e) Finance costs 0 0.18
(f) Depreciation, depletion and amortisation expense 2.1 4.09
(f) Other Expenses
1 Other Expenses 29.24 63.91
10
Total other expenses 29.24 63.91
Total expenses 106.32 244.34

 

Financial Results – Ind-AS

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2017 01-04-2017
B Date of end of reporting period 30-09-2017 30-09-2017
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
3 Total profit before exceptional items and tax -10.4 -36.9
4 Exceptional items 0 0
5 Total profit before tax -10.4 -36.9
7 Tax expense
8 Current tax 0 0
9 Deferred tax -2.05 -2.05
10 Total tax expenses -2.05 -2.05
11 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
14 Net Profit Loss for the period from continuing operations -8.35 -34.85
15 Profit (loss) from discontinued operations before tax 0 0
16 Tax expense of discontinued operations 0 0
17 Net profit (loss) from discontinued operation after tax 0 0
19 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
21 Total profit (loss) for period -8.35 -34.85
22 Other comprehensive income net of taxes -0.01 -0.32

 

Financial Results – Ind-AS

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2017 01-04-2017
B Date of end of reporting period 30-09-2017 30-09-2017
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
23 Total Comprehensive Income for the period -8.36 -35.17
24 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
25 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0 0
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
26 Details of equity share capital
Paid-up equity share capital
Face value of equity share capital
27 Details of debt securities
Paid-up debt capital
Face value of debt securities
28 Reserves excluding revaluation reserve
29 Debenture redemption reserve
30 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.19 -0.79
Diluted earnings (loss) per share from continuing operations -0.19 -0.79
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.19 -0.79
Diluted earnings (loss) per share from continuing and discontinued operations -0.19 -0.79
31 Debt equity ratio
32 Debt service coverage ratio
33 Interest service coverage ratio
34 Disclosure of notes on financial results Textual Information(1)

 

Text Block

Textual Information(1) 1.The financial results for the three months and six months ended September 30,2017 have been reviewed by the Audit committee and approved by the Board of Directors at their meeting held on 13-Dec-2017
2. The Financial results of the company for the quarter and half year ended September 30, 2017 have been prepared in accordance with Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate affairs pursuant to Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules, 2015, and Companies (Indian Accounting Standard) Amendment Rules, 2016. The company has for the first time adopted Ind AS for the financial year commencing from April 01, 2017 with a transition date of April 01, 2016.
3.The company has opted to avail the relaxations provided by the Securities and Exchange Board of India, vide its circular no. CIR/CFD/FAC/62/2016 dated July 05, 2016 (circular), as available to listed entities. Accordingly, the company has provided Ind AS compliant financial results only for the previous quarter ended September 30, 2016 along with the financial results for the quarters ended June 30, 2017 and September 30, 2017 and for the half year ended September 30, 2016 along with the financial results for the half year ended September 30, 2017. In accordance with the relaxations provided in the aforesaid circular, the results for the previous quarter ended September 30, 2016 and half year ended September 30, 2016 have not been subject to limited review or audit by the statutory auditors. The financial results for the quarters prior to the three months ended September 30, 2017 were reviewed by the earlier statutory auditor, which were in accordance with the earlier GAAP. The management has exercised necessary due diligence to ensure that these financial results provide a true and fair view of its affairs.
4.Land and building held by the company to earn rentals and for capital appreciation (rather than for use in business) , as identified by the management , have been reclassified from Property, Plant and Equipment to Investment Property as at the date of transition, which has been accounted in accordance with the cost model as per Ind AS 40. As per Ind AS 101 (First-time Adoption of Indian Accounting Standards), the company has elected to use a previous GAAP revaluation of such land and building made by the company during the financial year 1999-2000 (being prior to the date of transition), as deemed cost.
5.Adjustments, if any, necessary in the carrying amount of reserves as at transition date have not been considered, since full and complete information regarding the originating accounting adjustments in such prior years are not presently available with the company.
6.  In accordance with Ind AS 108 on “Operating Segments”, the company operates in one business segment viz. Textile business and hence segment information is not required to be furnished.
7.Figures of the corresponding previous period have been regrouped / rearranged wherever necessary to conform to the classification of the current period.

 

Statement of Asset and Liabilities

Particulars Half year ended (dd-mm-yyyy) Previous year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2017 01-04-2016
Date of end of reporting period 30-09-2017 31-03-2017
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
Assets
1 Non-current assets
Property, plant and equipment 33.18 0
Capital work-in-progress 0 0
Investment property 508.95 0
Goodwill 0 0
Other intangible assets 0 0
Intangible assets under development 0 0
Biological assets other than bearer plants 0 0
Investments accounted for using equity method 0 0
Non-current financial assets
Non-current investments 0.76 0
Trade receivables, non-current 0 0
Loans, non-current 0 0
Other non-current financial assets 1.84 0
Total non-current financial assets 2.6 0
Deferred tax assets (net) 0 0
Other non-current assets 10.44 0
Total non-current assets 555.17 0
2 Current assets
Inventories 69.46 0
Current financial asset
Current investments 0 0
Trade receivables, current 82.32 0
Cash and cash equivalents 16.21 0
Bank balance other than cash and cash equivalents 6.55 0
Loans, current 0 0
Other current financial assets 2.36 0
Total current financial assets 107.44 0
Current tax assets (net) 0 0
Other current assets 0 0
Total current assets 176.9 0

 

Statement of Asset and Liabilities

Particulars Half year ended (dd-mm-yyyy) Previous year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2017 01-04-2016
Date of end of reporting period 30-09-2017 31-03-2017
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
3 Non-current assets classified as held for sale 0 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0 0
Total assets 732.07 0
Equity and liabilities
Equity
Equity attributable to owners of parent
Equity share capital 492.94 0
Other equity -42.24 0
Total equity attributable to owners of parent 450.7 0
Non controlling interest
Total equity 450.7 0
Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0 0
Trade payables, non-current 0 0
Other non-current financial liabilities 0 0
Total non-current financial liabilities 0 0
Provisions, non-current 0 0
Deferred tax liabilities (net) 4.27 0
Deferred government grants, Non-current 0 0
Other non-current liabilities 0 0
Total non-current liabilities 4.27 0
Current liabilities
Current financial liabilities
Borrowings, current 19 0
Trade payables, current 127.91 0
Other current financial liabilities 117.31 0
Total current financial liabilities 264.22 0
Other current liabilities 0.96 0
Provisions, current 0 0
Current tax liabilities (Net) 11.92 0
Deferred government grants, Current 0 0
Total current liabilities 277.1 0
3 Liabilities directly associated with assets in disposal group classified as held for sale 0 0
4 Regulatory deferral account credit balances and related deferred tax liability 0 0
Total liabilities 281.37 0
Total equity and liabilites 732.07 0
Disclosure of notes on assets and liabilities

 

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2017 01-04-2017
Date of end of reporting period 30-09-2017 30-09-2017
Whether accounts are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Textile 78.75 171.25
Total Segment Revenue 78.75 171.25
Less: Inter segment revenue
Revenue from operations 78.75 171.25
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Textile -10.4 -36.9
Total Profit before tax -10.4 -36.9
i. Finance cost 0 0.18
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax -10.4 -37.08
3 Capital Employed
(Segment Asset – Segment Liabilities)
1 Textile 492.944 492.944
Total capital employed 492.944 492.944
Disclosure of notes on segments