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

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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.