LAGNAM SPINTEX LIMITED

,
, CIN: L17119RJ2010PLC032089
Plant & Registered Office: A 51-53, RIICO Growth Centre Hamirgarh, Bhilwara- 311001 (Rajasthan)
lagnam Spintex M: (91) 9929091010 E: [email protected] W: www.lagnamspintex.com

Statement of Audited Financial Results for the Quarter and Year Ended 31st March, 2022
(Rs. in Lacs)
S. Particulars Quarter Ended Year Ended

No. 31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021

Audited Unaudited Audited Audited Audited
I
Revenue from Operations 10,143.68 9,095.06 7,293.05 34,844.14 20,522.76
II Other Income 21.94 21.74 6.20 51.32 29.96
III Total income (1+11) 10,165.62 9,116.80 7,299.25 34,895.46 20,552.72
IV Expenses
(a) Cost of materials consumed 6,665.05 6,319.74 4,370.26 23,294.45 12,785.98
(b) Purchases of stock-in-trade - - - - -
(c) Changes in inventories of finished goods, 498.93 (54193) 346.86 (110.60) 1,165.73
stock-in-trade and work-in-progress

. (d) Employee benefits expense

(e) Finance costs
293.44
278.15
297.03
282.54
268.26
316.78
1,178.35
1,087.58
882.05
1,187.64
(f) Depreciation and amortisation expense 184.49 190.78 192.69 752.54 755.37
(g) Other expenses 1,197.07 1,254.69 881.62 4,638.86 3,087.41
Total expenses (IV) 9,117.13 7,802.85 6,376.47 30,841.18 19,864.18
V Profit (loss) before exceptional items and tax (III-IV) 1,048.49 1,313.95 922.78 4,054.28 688.54
VI Exceptional items - - - - -
VII Profit (loss) before tax (V-VI) 1,048.49 1,313.95 922.78 4,054.28 688.54
VIII Tax expense
(1) Current tax 178.07 226.58 113.52 694.27 113.52
(2) MAT Credit Entitlement (126.78) (226.58) (113.52) (642.98) (113.52)
(3) Deferred tax 287.63 373.84 304.24 1,123.14 241.12
IX Profit (loss) for the period (VI-VIII) 709.57 940.11 618.54 2,879.85 447.42
X Other Comprehensive income
A (i) Items that will not be reclassified to profit or loss 11.10 (2.11 ) (2.12) 4.76 (8.46)
(ii) Income tax relating to items that will not be (3.24) 0.62 (1.76) (1.39) -
reclassified to profit or loss
\
B (i) Items that will be reclassified to profit or loss 4.07 - (2.04) 2.04 (2.04)
(ii) Income tax relating to items that will be (1.16) - 0.57 (0.57) 0.57
reclassified to profit or loss
Total other comprehensive income (X) 10.77 (1.49) (5.35) 4.84 (9.93)
XI Total Comprehensive income for the period (IX+X) 720.34 938.62 613.19 2,884.69 437.49
- - - - -
XII Paid-up equity share capital (Face Value of Rs. 10/- each) 1,766.90 1,766.90 1,766.90 1,766.90 1,766.90
Total reserve i.e. Other Equity 6,769.41 4,061.42
XIII Earnings per equity share
(of Rs. 10/- each) (not annualised):
(a) Basic 4.02 5.32 3.50 16.30 2.53
(b) Diluted 4.02 5.32 3.50 16.30 2.53

Date: 16th April, 2022

Place: Bhilwara
Notes:
1 The above audited standalone financial results for the quarter and year ended 31st March 2022 have been prepared by
the Company in accordance with Regulation 33 of SEBI (listing Obligations & Disclosure Requirements) Regulations 2015
(as amended) and were reviewed by the Audit Committee and approved & taken on record by the Board of Directors at
their Meeting held on Saturday. 16th April. 2022.
2 As required under Regulation 33 of the SEBI (LODR) Regulations 2015. the Statutory Auditors have issued thier Report
on the aforesaid audited financial results for the quarter and year ended 31st March. 2022 which has also taken on record
by the Audit Committee and the Board at their Meeting held on Saturday. 16th April. 2022. The report does not have any
impact on the aforesaid financial results which needs any explanation by the Board.

3 The Board of Directors have recommended final dividend of Rs.0.50/- (par value of Rs. 10/- each) per equity share for the
financial year 2021-22 i.e. 5% per equity share. subject to approval of the shareholders. The Board of Directors at their
meeting held on 15.01.2022 has also declared an interim dividend of Rs.0.50/- (par value of Rs. 10/- each) per equity
share for the financial year 2021-22 i.e. 5% per equity share which has been duly paid to the shareholders. In total the
company has declared Rs.1.00/- (par value of Rs. 10/- each) per equity share for the financial year 2021-22 i.e. 10% per
equity share
4 The Company has migrated from NSE "EMERGE" platform to the Main Board of NSE w.e.f. 30.09.2021.

5 The Company has adopted Indian Accounting Standards ("Ind AS") and accordingly the financial results are prepared in
accordance with Indian Accounting Standards ("Ind AS") notified under section 133 of the Companies Act. 2013. read
together with the Companies (Indian Accounting Standards) Rule. 2015. as amended. All the period presented have been
restated accordingly.
6 During the quarter ended 31st Dec. 2021. the Company has recognized the benefit of Remission of Duties and Taxes on
Exported Products (RoDTEP) of Rs. 462.50 Lakhs in "Revenue from Operations" out of which Rs. 74.57 Lakhs benefit
pertains to eligible export sales for the Quarter ended March 31. 2021 and Rs. 115.26 Lakhs & Rs. 138.64 Lakhs benefit
pertains to eligible export sales for the Quarter ended June 30. 2021 & Sep 30. 2021 respectively. Accordingly the figures
of current quarter is not comparable with quarter ended 31st Dec .. 2021.

7 The Solar Power Plant of 1.7 MW commissioned during January. 2022 of which full benefit will accrue in upcoming years.
8 The Company has taken effective steps for implementation of the Expansion Project of Rs. 218.00 crores for installation of
41.472 spindles for manufacuring of 100% compact cotton yarn.
9 The figures of the previous period have been regrouped/rearranged and/or recast wherever necessary.
10 The requirement of "Segment Reporting" is not applicable to the Company as it is engaged in single business segment.

11 The Company is not having any subsidiary. associate or joint venture; therefore. it has prepared only standalone results
as consolidation requirement is not applicable to the Company.
12 Statement of Assets & liabilities and cash flow statement as on 31st March. 2022 is enclosed herewith.
13 Reconciliation of between financial results and equity as per Ind as and as previously reported under previous GAAP for
the quarter/ year are as under

Total comprehensive Income Reconciliation (Rs.lln Lacs) Year ended

31.03.21
Net profit as reported under previous GAAP 452.63
Actuarial loss on defined benefit plan accounted through OCI 8.46
Reversal of Share issue expenses 4.69
Reversal of MTM loss of forward contract 2.04
Reversal of depreciation on processing fee 4.47
Amortisation of processing fee for loan (23.21)
Depreciation on lease hold land (7.97)
Current tax and deferred tax impact 6.30
Net Profit as per Ind As 447.42
Other comprehensive income net of tax (9.93)
Total comprehensive income as per Ind As 437.49

Equity reconciliation (Rs. In Lacs) Year ended

31.03.2021
Equity reported under previous GAAP 4.119.98
Reversal of depreciation on precessing fee 7.47
Impact of deferred tax liabilities 6.87
Amortisation of share issue expenses (5.28)
Amortisation of lease hold land (28.71)
Amortisation of borrowing cost (38.91)
Net equity under Ind As 4,061.42

For~d

Anand Mangal
Date: 16th April. 2022 Managing Director
Place: Bhilwara DIN 03113542
 LAGNAM SPINTEX LIMITED
CIN: L17119RJ2010PLC032089
Plant & Registered Office: A 51-53, RIICO Growth Centre Hamirgarh, Bhilwara- 311001 (Rajasthan)
Lagnam Spintex M: (91) 9929091010 E: [email protected] W: www.lagnamspintex.com

Statement of Assets & Liabilities As At 31st March, 2022

Statement of Assets & Liabilities As at As at
31.03.2022 31.03.2021
Audited Audited
ASSETS
(1) Non - Current assets
(a) Property, Plant and Equipment 13,751.12 14,257.82
(b) Right to use assets 662.34 670.31
(c) Other intangible Assets 8.45 10.72
(d) Capital Work in Progress 24.70 -
(e) Financial Assets
(i) Investments 10.09 22.16
(f) Other Non Financial Assets 990.61 82.09
15,447.31 15,043.10
(2) Current Assets
(a) Inventories 5,716.75 3,977.95
(b) Financial Assets
(i) Investment 26.20 5.00
(ii) Trade Receivables 4,030.24 3,498.20
(iii) Cash and Cash Equivalents 394.24 10.25
(iv) Bank Balances other than (ii) above 0.59 34.9
(v) Other Financial Assets 238.86 205.
(c) Current Tax Assets (Net) 230.19 222.. 5
(d) Other Current Assets 1,905.38 1.880.~-
12,542.45 9,834_94
Total assets 27,989.76 24,878 ..04
J
EQUITY AND LIABILITIES
(1) Eauity
(a) Equity Share Capital 1,766.90 .00.
(b) Other Equity 6,769.41 4.06142
8,536.31 5,828..32
(2) Liabilities \

Non - Current Liabilities

(a) Financial liabilities
(i) Borrowings 10,862.17 2.32384
(b) Provisions 93.07 6-.
(c) Deferred Tax Liability ( Net) 1,937.36 813.65
12,892.60 13,204.89
Current liabilities
(a) Financial liabilities
(i) Borrowings 3,357.17 2,95429
(ii) Trade payables
(a) total outstanding dues of micro enterprises 117.34 458.81
and small enterprises
(b) total outstanding dues of creditors other 40.40 35.33
than
(iii) Other financial liabilities 2,955.91 2,225.86
(b) Other current liabilities 75.20 149.45
(c) Provisions 14.83 8.55
(b) Current Tax Liabilities (Net) - 12.54
6,560.85 5,844.83
Total Equity & Liabilities 27,989.76 24,878.04

Date : 16th April, 2022

Place: Bhilwara
 LAGNAM SPINTEX LIMITED
(CIN: L17119RJ201 OPLC032089)
Cash Flow Statement for the year ended 31st March, 2022

Particulars For The Year

Ended
31st March 22 31st March 21
A. Cash Flow From Operating Activities
a. Net operating profit before tax 4,054.28 688.54
Adjustment for:
Depreciation and amortisation of Property, Plant and Equipment 752.54 755.37
Interest Income (49.19) (26.85)
Finance cost 1,087.58 1,187.64
(Profit)/Loss on Sale/Retirement of Property Plant and Equipment (Net) 4.12
Re-measurement gain / loss on routed through OCI 6.80 (10.50)
Provision for employees benefits 31.95 22.01
b. Operating profit before Working Capital changes 5,883.96 2,620.33
Adjustment for:
(Increase) !Decrease in Inventories (1,738.80) (37.82)
(Increase) !Decrease in Trade receivables (532.04) (828.14)
(Increase) !Decrease in Other Assets (Non Current) (908.52) 23.21
(Increase) / Decrease in Other financial assets (Current) (33.15) (67.37)
(Increase) !Decrease in Other Current Assets 613.61 (467.95)
Increase / (Decrease) in Trade payables (336.40) (619.84)
Increase / (Decrease) in Other financial liabilities 149.82 41.69
Increase / (Decrease) in Other Current liabilities (74.25) 49.60
c. Cash generated from Operations before tax 3,024.23 713.71
d. Net Direct Taxes paid (711.48) (100.98)
Net cash from operating activities - (A) 2,312.75 612.73

B. CASH FLOW FROM INVESTING ACTIVITIES

Purchase of Property, Plant and Equipment. (260.30) (31.53)
Net Purchase and Sale of Investments (9.13) 12.04
Interest Income 49.19 26.85
Net cash flow used in investing activities - (B) (220.24) 7.36

C. CASH FLOW FROM FINANCING ACTIVITIES

Repayment of non current borrowings (2,284.44) (1,116.58)
Proceeds from non current borrowings 1,403.00 3,313.87
Proceeds / (repayment) of short term borrowings (net) 402.88 (1,633.38)
Dividend Paid (176.70)
Finance cost (1,087.58) (1,187.64)
Net cash used in financing activities - (C) (1,742.84) (623.73)
Net increase / (decrease) in cash and cash equivalents - (A+B+C) 349.67 (3.64)
Opening cash and cash equivalents 45.16 48.80
Closing cash and cash equivalents 394.83 45.16

For Lagnam Spintex Limited

Date : 16th April ,2022

Place: Bhilwara
SSMS & Associates 16, BASEMENT
HEERA PANNA MARKET
CHARTERED ACCOUNTANTS
PUR ROAD, BHILWARA- 311001
E-mail: [email protected]

Independent Auditor's Report on the Quarterly and Year to date Audited Standalone Financial
Results of Lagnam Spintex Limited pursuant to the Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To,
The Soard of Directors,
LAGNAM SPINTEX LIMITED
A 51-53, RIICO Growth Centre,
Hamirgarh, Shilwara- 311001.

Report on the Audit of Financial Results

Opinion

We have audited the accompanying statement of standalone financial results of Lagnam Spintex
Limited (the company) for the quarter and year ended 31 sl March 2022 (the "Statement") attached
herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SESI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing
Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the
Statement:

1. are presented in accordance with the requirements of Regulation ~3 of the Listing

Regulations in this regard; and

2. gives a true and fair view in conformity with the applicable accounting standards and other
accounting principles generally accepted in India, of the net profit and other comprehensive
income and other financial information of the Company for the quarter and year ended 31 st
March 2022.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those
Standards are further described in the "Auditor's Responsibilities for the Audit of the Financial
Results" section of our report. We are independent of the Company in accordance with the Code of
Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements
that are relevant to our audit of the financial statements under the provisions of the Companies Act,
2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance
with these requirements and the Code of Ethics. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion on the standalone financial
results.
 anagement's Responsibilities for the Financial Results

e quarterly financial results as well as the year to date standalone financial results have been
prepared on the basis of the standalone annual financial statements. The Company's Board of
Directors are responsible for the preparation and presentation of these standalone financial results
that gives a true and fair view of the net profit and other comprehensive income and other financial
information in accordance with the applicable accounting standard prescribed under Section 133 of
the Act read with relevant rules issued thereunder and other accounting principles generally accepted
in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also
includes maintenance of adequate accounting records in accordance with the provisions of the Act
for safeguarding of the assets of the Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of the financial
results that give a true and fair view and are free from material misstatement, whether due to fraud or
error.

In preparing the financial results, the Board of Directors are responsible for assessing the Company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the Board of Directors either intends to liquidate
the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting
process.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial results as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that
an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of thefinancial results, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain
audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control.
 • Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we
are also responsible for expressing our opinion on whether the Company has adequate
Internal financial controls with reference to financial statement in place and the operating
effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the Board of Directors.

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the Company's ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are
required to draw attention in our auditor's report to the related disclosures in the financial
results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor's report. However, future
events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial r.esults, including the
disclosures, and whether the financial results represent the underlying transactions and
events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant defieiencies in
internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with
"relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence, and
where applicable, related safeguards.

Other matters

The statement includes the results for the quarter ended 31st March, 2022 being the balancing figure
between the audited figures in respect of the full financial year ended 31 st March 2022 and the
published unaudited year-to-date figure up to the third quarter of the current financial year, which
were subject to a limited review by us, as required under the Listing Regulations.

For SSMS & Associates

Chartered Accountants
Firm Reg. No. 19351 C

(sat~
Date: 16.04.2022 Partner
Place: Bhilwara M. No. 076241

UDIN: 2207b2-\..\, AN ff1C~ 17\.1"2-

 ."
Lagn pi ex Limited
Lagnam Spintex Plant & Regd. Office: A 51·53. RIICO Growth Centre Hamirgcrh. Bhilwcra (RAJ}-311001

To, Date: 16.04.2022

The Manager
Listing & Compliance Department,
National Stock Exchange of India Limited
Exchange Plaza, 5th Floor, Plot No. C/1,
G Block, Bandra-Kurla Complex, Bandra,
Mumbai- 400051.

Company ID: LAGNAM

ISIN: INE548Z01017

Sub: Declaration pursuant to Regulation 33(3)(d) of the Securities and Exchange

Board of India (LODR) Regulations, 2015, as amended

This is hereby declared and confirmed that the Auditors' Report given by the
Statutory Auditors of the Company on the Audited financials Results of the
Company for the quarter and financial year ended on 31st March, 2022 is with
Unmodified Opinion.

Thanking you,
Yours Faithfully,
For LAGNAMSPINTEXLIMITED

~
ANANDMANGAL
~
MANAGINGDirector D~
DIN: 03113542 Chief Financial Officer

M: (91) 9929091010 E: [email protected] W: www.lagnamspintex.com

PAN: AABCL8061A CIN: L17119RJ2010PLC032089