28th February, 2022 | |
Department of Corporate Services | The Listing Department |
BSE Limited | National Stock Exchange of India Ltd |
Phiroze Jeejeeboy Towers | Exchange Plaza, |
Mumbai - 400 001 | Bandra Kurla Complex |
Security Code No - 509820 | Bandra (East), |
Mumbai 400 051 | |
Security Code - HUHTAMAKI |
Sub: Outcome of the Board Meeting for the Financial Year ended 31st December, 2021 - SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
Pursuant to Regulation 33 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR), please note that the Board of Directors of the Company at its meeting held on Monday, 28th February, 2022 inter-alia:
- considered and approved the Audited Standalone Financial Results of the Company for the Financial year ended 31st December, 2021 copy of the same along with Report of Auditors thereon and statement of impact of Audit Qualifications (for Audit Report with modified opinion) is annexed herewith.
- recommended payment of dividend @ Re. 1/- (Rupee One only) per Equity share of face value of Rs. 2/- each (50%), for the financial year ended 31st December, 2021 subject to the approval of the shareholders at the ensuing 72nd Annual General Meeting.
- approved the proposal to convene and hold the 72nd AGM ('AGM') of the Shareholders of the Company on Thursday, 12th May, 2022 at Mumbai through video conferencing / other audio visual means in accordance with the relevant circulars issued by the Ministry of Corporate Affairs, Government of India and the Securities and Exchange Board of India.
Register of Members and Share Transfer Books shall remain closed from Friday, 22nd April, 2022 to Thursday, 5th May, 2022 (both days inclusive) for the purpose of payment of Dividend for the Financial Year ended 31st December, 2021.
Registered Office: | Tel: +91 (022) 61740400 |
Huhtamaki India Ltd. | Fax: +91 (022) 6174 0401 |
(Formerly Huhtamaki PPL Ltd) | CIN: L21011 MH1950FLC145537 |
12A-06B-Wing, 13th Floor, | www.flexibles.huhtamaki.in |
Parinee Crescenzo, C-38/39, | |
G-Block, Bandra Kurla Complex, | |
Bandra (E), Mumbai-400 051 | |
Maharashtra. |
The aforesaid board meeting commenced at 5.15 pm and concluded at 7.15 pm
Kindly take the same on your records.
Thanking you,
Yours faithfully,
For Huhtamaki India Limited
DAKSHINAMUR THY IYER
Digitally signed by
DAKSHINAMURTHY IYER Date: 2022.02.28 19:19:13 +05'30'
D V Iyer
Company Secretary & Legal Counsel
Registered Office: | Tel: +91 (022) 61740400 |
Huhtamaki India Ltd. | Fax: +91 (022) 6174 0401 |
(Formerly Huhtamaki PPL Ltd) | CIN: L21011 MH1950FLC145537 |
12A-06B-Wing, 13th Floor, | www.flexibles.huhtamaki.in |
Parinee Crescenzo, C-38/39, | |
G-Block, Bandra Kurla Complex, | |
Bandra (E), Mumbai-400 051 | |
Maharashtra. |
Huhtamaki India Limited (Formerly known as Huhtamaki PPL Limited)
Regd Office: 12A-06B-Wing, 13th Floor, Parinee Crescenzo, C-38/39,G-Block, Bandra Kurla Complex, Bandra (E), Mumbai-400 051
Central Headquarters: L. B. Shastri Marg, Majiwade, Thane - 400 601
CIN - L21011MH1950FLC145537, Phone No.: (022) 2653 1320, Fax No.: (022) 2653 1310
AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2021
Rs. in Million | |||||
Sr.No. Particulars | Quarter | Quarter | Quarter | Year | Year |
ended | ended | ended | ended | ended | |
31.12.2021 | 30.09.2021 | 31.12.2020 | 31.12.2021 | 31.12.2020 | |
(Audited)- | (Unaudited) | (Audited)- | (Audited) | (Audited) | |
Refer Note K | Refer Note K |
- Revenue from Operations
a) Sale of Products & Services | 6,484.6 | 6,514.2 | 5,474.1 | 25,708.6 | 24,188.0 | |
b) Other Operating Revenue | 131.1 | 173.1 | 103.0 | 544.2 | 439.0 | |
Total Revenue from Operations | 6,615.7 | 6,687.3 | 5,577.1 | 26,252.8 | 24,627.0 | |
2 | Other Income | 16.9 | 13.9 | 27.5 | 93.7 | 80.2 |
3 | Total Income | 6,632.6 | 6,701.2 | 5,604.6 | 26,346.5 | 24,707.2 |
- Expenses
a) Cost of Materials Consumed | 4,982.4 | 4,597.7 | 3,546.5 | 19,266.8 | 16,232.1 | |
b) Changes in Inventories of Finished Goods and Work-in-Progress | (87.2) | 219.5 | 199.2 | (544.4) | (107.7) | |
c) Employee Benefit Expense | 605.4 | 604.4 | 619.2 | 2,577.7 | 2,760.5 | |
d) Finance Costs | 80.6 | 69.8 | 66.4 | 268.3 | 261.2 | |
e) Depreciation and Amortisation Expense | 225.9 | 230.4 | 238.4 | 921.6 | 979.3 | |
f) Other Expenses | 1,006.6 | 956.7 | 857.3 | 3,862.4 | 3,405.9 | |
Total Expenses | 6,813.7 | 6,678.5 | 5,527.0 | 26,352.4 | 23,531.3 | |
Profit/(Loss) from Operations before Exceptional item and Tax | ||||||
5 | (3-4) | (181.1) | 22.7 | 77.6 | (5.9) | 1,175.9 |
6 | Exceptional Item (Refer Note C) | - | 309.8 | - | 309.8 | - |
7 | Profit/(Loss) before Tax (5-6) | (181.1) | (287.1) | 77.6 | (315.7) | 1,175.9 |
- Tax expense Current tax
- Current period | (52.9) | 1.7 | 12.2 | 35.1 | 315.4 | |
- (Credits) related to previous periods | - | - | - | (93.3) | (93.5) | |
Deferred tax | 7.0 | (70.4) | 14.6 | (30.6) | (5.9) | |
9 | Profit/(Loss) for the period (7-8) | (135.2) | (218.4) | 50.8 | (226.9) | 959.9 |
10 Other Comprehensive Income/(Loss) for the period (OCI)
Other Comprehensive Income/(Loss) not to be reclassified to Profit or Loss
Remeasurement of defined benefit liability/(asset) | (65.3) | - | (63.2) | (32.6) | (76.9) | |
Income Tax on Remeasurement defined benefit liability/(asset) | 16.4 | - | 15.9 | 8.2 | 19.3 | |
Other Comprehensive Income/(Loss) (OCI) (Net of Tax) | (48.9) | - | (47.3) | (24.4) | (57.6) | |
11 | Total Comprehensive Income/(Loss) for the period (9+10) | (184.1) | (218.4) | 3.5 | (251.3) | 902.3 |
12 | Paid Up Share Capital - Equity Face Value Rs.2 each | 151.1 | 151.1 | 151.1 | 151.1 | 151.1 |
13 | Other Equity | 7,008.8 | 7,498.0 | |||
14 | Earnings in Rs. per share of Rs.2 each (not annualised) | |||||
Basic & Diluted after exceptional item | (1.79) | (2.89) | 0.67 | (3.00) | 12.71 | |
Basic & Diluted before exceptional item | (1.79) | 1.21 | 0.67 | 1.10 | 12.71 |
Huhtamaki India Limited (Formerly known as Huhtamaki PPL Limited)
Regd Office: 12A-06B-Wing, 13th Floor, Parinee Crescenzo, C-38/39,G-Block, Bandra Kurla Complex, Bandra (E), Mumbai-400 051
Central Headquarters: L. B. Shastri Marg, Majiwade, Thane - 400 601
CIN - L21011MH1950FLC145537, Phone No.: (022) 2653 1320, Fax No.: (022) 2653 1310
Balance Sheet as at December 31, 2021
Rs. in Million | |||
As at | As at | ||
31.12.2021 | 31.12.2020 | ||
(Audited) | (Audited) | ||
Assets | |||
Non-Current Assets | |||
a. Property, Plant and Equipment | 3,760.8 | 4,059.4 | |
b. Capital Work-in-Progress | 429.1 | 165.0 | |
c. Right - Of - Use Assets | 887.0 | 785.7 | |
d. Goodwill | 623.8 | 623.8 | |
e. Other Intangible Assets | 98.6 | 137.6 | |
f. Financial Assets | |||
i. Investments* | 0.0 | 0.0 | |
ii. Loans | 115.8 | 106.5 | |
iii. Other Financial Assets | 2.9 | 2.9 | |
g. Deferred Tax Assets (Net) | 116.3 | 77.5 | |
h. Non-current Tax Assets (Net) | 850.9 | 582.1 | |
i. Other Non-current Assets | 195.5 | 150.4 | |
Total Non-Current Assets | 7,080.7 | 6,690.9 | |
Current Assets | |||
a. Inventories | 3,475.0 | 2,287.8 | |
b. Financial Assets | |||
i. Investments | 6.2 | 183.5 | |
ii. Trade receivables | 6,294.9 | 5,338.0 | |
iii. Cash and Cash Equivalents | 320.8 | 669.6 | |
iv. Bank balances other than Cash and cash equivalents | 1.1 | 1.5 | |
v. Loans | 13.1 | 17.3 | |
vi .Other Financial Assets | 21.9 | 32.2 | |
c. Other Current Assets | 868.8 | 607.6 | |
Total Current Assets | 11,001.8 | 9,137.5 | |
Total Assets | 18,082.5 | 15,828.4 | |
Equity and Liabilities | |||
Equity | |||
a. Equity Share Capital | 151.1 | 151.1 | |
b. Other Equity | 7,008.8 | 7,498.0 | |
Total Equity | 7,159.9 | 7,649.1 | |
Liabilities | |||
Non-Current Liabilities | |||
a. Financial Liabilities | |||
i. Borrowings | 2,000.0 | 1,250.0 | |
ii. Lease Liabilities | 550.1 | 428.6 | |
iii. Other Financial Liabilities | 2.7 | 11.7 | |
b. Provisions | 61.7 | 77.3 | |
c. Other Non-Current Liabilities | 88.2 | 89.2 | |
Total Non-Current Liabilities | 2,702.7 | 1,856.8 | |
Current liabilities | |||
a. Financial liabilities | |||
i. Borrowings | 987.1 | 1,210.3 | |
ii. Trade Payables | |||
Total outstanding dues of micro enterprises and small enterprises | 183.2 | 63.4 | |
Total outstanding dues of creditors other than micro enterprises and small enterprises | 5,554.4 | 4,035.0 | |
iii. Lease Liabilities | 50.2 | 39.6 | |
iv. Other Financial Liabilities | 822.0 | 341.0 | |
b. Other Current Liabilities | 197.2 | 240.2 | |
c. Provisions | 250.4 | 280.3 | |
d. Current Tax Liabilities (Net) | 175.4 | 112.7 | |
Total Current Liabilities | 8,219.9 | 6,322.5 | |
Total Liabilities | 10,922.6 | 8,179.3 | |
Total Equity and Liabilities | 18,082.5 | 15,828.4 |
*Amount less than Rs 50,000
Huhtamaki India Limited (Formerly known as Huhtamaki PPL Limited)
Regd Office: 12A-06B-Wing, 13th Floor, Parinee Crescenzo, C-38/39,G-Block, Bandra Kurla Complex, Bandra (E), Mumbai-400 051
Central Headquarters: L. B. Shastri Marg, Majiwade, Thane - 400 601
CIN - L21011MH1950FLC145537, Phone No.: (022) 2653 1320, Fax No.: (022) 2653 1310
Statement of Cash flow
Rs. in Million | ||||
Year ended | Year ended | |||
31.12.2021 | 31.12.2020 | |||
(Audited) | (Audited) | |||
A . Cash Flow from Operating activities | ||||
Net Profit/(Loss) before Tax and exceptional items | (5.9) | 1,175.9 | ||
Adjustments for | ||||
Depreciation and Amortisation | 921.6 | 979.3 | ||
Unrealised Foreign Exchange Loss/(Gain) (Net) | 9.3 | (25.7) | ||
Interest Income | (17.1) | (10.0) | ||
Finance Cost | 259.9 | 256.4 | ||
Net Interest on net defined benefit liability | 8.4 | 4.8 | ||
Charge/ (Reversal) of impairment loss | 2.3 | (1.1) | ||
Bad debts written off | 0.4 | 4.6 | ||
(Profit)/Loss on sale/ fair value on Current Investments (Net) | (6.7) | (13.2) | ||
Property, Plant & Equipment Written Off | - | 3.6 | ||
Mark-to-market (gain)/loss on derivative financial instruments | (16.2) | (27.0) | ||
Group Stock Option Arrangement | (11.3) | (0.1) | ||
Profit on Sale of Property, Plant & Equipment (Net) | (21.4) | (16.7) | ||
Cash Generated from Operations before working capital changes | 1,123.3 | 2,330.8 | ||
Working capital adjustments | ||||
Adjustments for | ||||
(Increase)/Decrease in Trade Receivables | (970.5) | 856.4 | ||
(Increase)/Decrease in Inventories | (1,187.2) | (444.0) | ||
(Increase)/Decrease in Non-current and current financial assets | 15.7 | (1.1) | ||
(Increase)/Decrease in Other Non-current and Other current assets | (307.5) | (264.7) | ||
Increase/(Decrease) in Trade Payables | 1,640.8 | (232.7) | ||
Increase/(Decrease) in Other Non-current and current financial liabilities | (3.0) | (101.1) | ||
Increase/(Decrease) in Other Non-current and Other current liabilities | (44.0) | 3.7 | ||
Increase/(Decrease) in Non-current and current provisions | (86.6) | (17.3) | ||
Cash Generated from Operations | ||||
181.0 | 2,130.0 | |||
Taxes paid (net of refunds) | (147.9) | (436.6) | ||
Net cash flows from operating activities | 33.1 | 1,693.4 | ||
Exceptional Item (Refer Note C) | (309.8) | - | ||
Net Cash (used in) / generated from operating activities - A | (276.7) | 1,693.4 | ||
B. Cash Flow from Investing Activities | ||||
Purchase of property, plant and equipment, capital work-in-progress and capital advances | (791.3) | (488.6) | ||
Proceeds from Sale of property, plant and equipment | 31.2 | 55.4 | ||
Payment for acquisition of business | - | (741.1) | ||
Purchase of Current Investments | (3,105.0) | (4,185.5) | ||
Sale of Current Investments | 3,289.0 | 4,623.3 | ||
(Investment)/Proceeds in/from deposits with Bank | 0.4 | (0.1) | ||
Interest Received | 17.2 | 9.8 | ||
Net cash flows used in Investing activities - B | (558.5) | (726.8) | ||
C. Cash Flow from Financing activities | ||||
Interest paid | (252.1) | (234.0) | ||
Repayment of sales tax deferral loan | (17.6) | (37.6) | ||
Repayment of long term borrowings | - | (2,000.0) | ||
Proceeds of long term borrowings | 1,250.0 | 2,250.0 | ||
Payment of Lease Liability | (44.0) | (32.2) | ||
Proceeds / (Repayment) of short term borrowings (net) | (223.2) | (460.5) | ||
Dividends paid | (226.8) | (227.5) | ||
Net cash (used in) /generated from financing activities - C | 486.3 | (741.8) | ||
Net (decrease) / increase in cash and cash equivalents -(A+B+C) | (348.9) | 224.8 | ||
Cash and cash equivalents at the beginning of the year | 669.6 | 444.8 | ||
Cash and cash equivalents at the end of the period | 320.8 | 669.6 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Huhtamaki India Ltd. published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 14:35:54 UTC.