JAY STIREE TEA & I]{DUSTRIES U]i{ITED

tn

Particulars

1.

2.

a)
b)
a)
b)
c)
d)
e)
O
q)
h)

Incone fron

ExDenses
Cost of materials consumed

Profit/(Losr) from ordinary activities betore

costs but btor exceptionat ttems (5_E)

Exceptional

Profit/(Loss) from ordinary activities bfore tax

Tax ExDe$es

18.

as2,

a)

t35a6

70794

814
74400

1286
72080

2t484

559
3305

9530
408

19873

1664

,o27

24644
5937

3688

1342

1,535

20706
7027

(674

1485

s246

5{58

373

49

427
1100
945

405

214a6
1638
,|{,86

18711
1359
4197
4457

22211

1947r

1876

1596
4504
4806
10353
71814

517

1zt5

451
919

4336

4151
i1595

1m3S
72389

5937
(3471

2234

451

2011

746

293

2175

2775

2237

(2rr7

2527

2826

47t6

2503

906

1113

4453

4627

s058

(30831

L414

(1627)

159

(2sss)

(3083)

14l4

159

(2s5s)

Defered Tax
Tax adjustrnnt for arlier years ( et)
t{et profit / (Loss) fron ordindry .ctivitics .fter
tax (9-10)
Extr.ordinary ttem. (nct of bx cxFns)
et Profit/(Loss) for the geriod (U-12)
Share of profit/(Loss) ofAssociate
Minority Interest
]{et Profit/(Loss) atter taxs and mho.ity intercst
Paid up Equity Share C.Dital
(Face Value Rs,5/- pr share)

110

110

ir6

46

133

133

',33r2)

14t4

33r21

l4l4

(le16)

203

(610)l

'*l

(2304)l

(2304)l

(18)l

3372)

t4t4

tl44

1444

(2285)l

ttl44

1444

Rserves excluding Revaluation Rcserve as per

balance shcet of prvious accounting year

19.

2o1s

CulIentTax

12.
13.
14.
15.
15.
lr,

2016 I

(Audited | (Audited)

Itefts

(7-a)

11,

Harch

lzors lzors

Net Sales/hcome frorn Operations

(Net of Excise Dutv)
Odrer Operatino Jncome
Total Income fron Operationt (Ret)

finance costs and exceDtional items (3+4)

Finance Costs
Protir/(t oss) from ordinary acuvities after finance

10.

2016

oprado;a-

Purchase of stock-in-trade
Ch.nqes in inventories ofltnished qoods,
work-in-progress & stock-in-traoe
Ernplove benefits exDens
Deprciation and amortisation ex9nse
Power& Fuel
ConsumDtion of Stores and SFre-p.rts
Other ExDenditure
Yotal Erpenses
Profit/(Loss) fton| Oprations bfore Ot rer tn@me,
finance .osts & ercpuonatitem, (1-2)
Other Income

7,

li{arch lDccembr I

Consolidated
Financirl Year ended
31st l.larch

Eamings per strar

3i!401

(bft.r & atter eltrr-ordtnary

4102s

Items) (ot Rs.s/- eachXAnnuatised)

Basic

(1r.68)

(6,63)

(7.ez)l
(7.92\l

Notes:

The Board has recommended a dividend of Re.l/- (Re.One) per share (Face Value of
Rs.5/- per share).

Other Income for the year ended 31" March 2016 includes Rs. 416.36 lacs on account
of profit on sale of Investment Property and Rs.27.29 lacs loss on account of sale of a
tea factory.
The scheme of arrangement for demerger of sugar division and shares held by the
Company into the subsidiaries w.e.f. 01.04.2016 as per decision of the Board has been
filed with the Hon'ble High Court at Kolkata, the approval for which is awaited.

the assessment of Minimum Alternate Tax (MAT) credit entitlement for set
off with future income tax liability, a sum of Rs.111.94 lacs has been carried forward. As
per the current working trend, the management is virtually certain of recovering the
Based on

same.
5.

No provision has been made in the accounts for dimunition in the value of investment
of a subsidiary company amounting to Rs.356.20 lacs and advances & deposits
Rs.388.35 lacs as the same is for long term and strategic in nature.

6.

of last quarter are the balancing figures between audited figures of the full
financial year and published figures up to the 9 months ended 31.12.2015 of the
Figures

respective financial year.

7.

Figures for the previous periods are regrou ped/reclassified

period's results.

8.

The above results have been reviewed by the Audit Committee and approved by the
Board of Directors in its meeting held on 3'd May, 2016.

to confirm to the current

For Jay Shree Tea & Industries Limited

3rd May, 2016.

Kolkata.

D.P.Maheshwari
(Managing Director)
DIN NO.02203749

& Crpit!l employed under Clause ,l I of the Lisung

Aereemenl with Slock Exchrnee for th year edded March 31.2016

Segmentwise Rcvenue Rsults

in lacs
Saandalone
Quarler endd 3l st

Standalone
Financial Year endd

March lDccembcrl March

2nt6 l 2015 l 20ls

Perticulars

(Revicwcd

l(Reviewed

l(Reviewed

3lst March
)

2016 | 20ls
(Audird) (Auditd)
|

Consolidaaed
Financial Year nded

3lst Msrch

2016
(Audited)

zots
|| (Audited)

1, Spment Revenu
( Nt Sales/Income from esch Segment
)
a) Tea

b) Cherhicals & Frtilisels

c)

Sugrr

d) Others
Less : Inter Segmental Rvenue

Totel

2,

l0tt8

15037

9036

46277

45t26

51078

48735

1536

3727

t480

8375

8020

8375

8020

1757

5235

2341

14772

l4l

14772

l5l4l

128

t49

93

419

501

419

507

8l

97

9l

304

323

304

13458

24051

12865

69599

68471

11100

72080

(2703\

l99l

(4 369)

3459

4406

52E7

4t53

t2s

68

95

IJI

62

l3l

62

46?

( t02)

(e41)

l75l )

(941',)

(r75r)

l4)

22

(175)

)',

(r 75)

t5

Ssments Rcsult!
(

Profit/ (Loss) before trx & interest

a) Tea

b) Chemicals & Fertiliscrs

c) Sugar

6t4

d) Othcrs

(17)l

Total

39

(l9El)

2565

(43e0)

2665

2542

1,193

2289

751

911

891

3923

3929

3987

4155

(3sr)

(174)

(334)

(369)

('t28)

Q41)

(68e)

(3083)

l4t4

(5615)

(r627'

(21r5)

t59

(2555)

22977

28921

25976

22977

25916

3t959

36042

4076

48t2

3403

4076

3403

4076

3403

c) Sugar

r4569

t2755

t78

14569

r5r78

l5l?8

d) Others

22J1

1209

t56'l

, ra1

1567

t567

29918

35059

29590

35059

38184

8l r83

73149

8r r83

Less : Intrst (net)

Add : Untrllocable Income

net

off

Unallocable expenditure

Total Profit(Loss) before Tax

l-3.

Seement Capitd Employed

( excluding revalurtion reservc )
a) Tea
b) Chemicals

& Frtilisrs

e) Unallocable

Total

2eseol

13419

15

849t1

9437 4

JAY SHREE TEA & INDUSTRIES LIMITED

House". 10 . Camac Streot. Kotkata -700 0i7

(( in lacs)

EQUITYAND LIABiLITIES

(a)
(b)

Shareholder3' Funds
Share Capital
Reserves and Surylus
Sub_Total - Sharoholders, Funds

Minority Interest

Nonurent Liabilities

!91
)

(c)
(d)
(a)
(b)

(d)

Long-Term Bonowings
Defeffed Tax Liabititi;s (Net)
Other Long Term Liabitities
Long-Term Provisions
Sub_Total _ Non_Current

Current Liabilities
Short-Term Borrowinqs
Trade payabtes

't6814
17141

Short-Term provisions
Sub_Total - Currcnt Liabilitios

24288
1736'l

11063

3310

TOTAL-EQUIW AND LIABILITIES

ASSETS

(a)
(b)
(c)
(d)

e)

(a)
(b)
(d)
(e)

Non-Cuffent Assets
Fixed Assets

32572

Goodwill on consolidation
Non-Cunenl Inveslments
Long-Term Loans and Advances
Other Non-Current Assets
Sub_Total - Non-Current

Curent Assets
Curent Investments
Inventories
Cash and Cash equivatents
Short-Term Loans and Advances

Other Current Assets

Sub-Total

Current Assets

22940
2214

37261
2008
26050
2881
o

,t
850
22517
8230

3132

8884
1790
307'l

8726
9080

2532
3171

Singfii st

Co.

Chartered Accountants
EMERALD HOOSE, 4th Floor, lB, OLD POST OFFICE STREEI KOLMTA-7OO 0O1
O : +91(0)33-224&45Tn7,98362 33222 . Fax : + 9l (0)33-2230-7146 , E-mail: kolkata@singhico.com ' Website I www.singhico.com

Audltor's Report on Quarterly Standalone Financial Results and Standalone Year to Date Results
of Jayshrce Tea & Industries Limited pursuant to the Regulation 33 of SEBI (Listing Obligations
and Disclosur Requirements) Regulauons' 2015

To
Board of Directors of
tayshree Tea & Industries Limited

l.

We have audited the quarterly standalone financial results ('the Statement) of Jayshree Tea & Industries
Umited for the quarter ended 31$ March 2016 and the standalone financial results for the year ended 31"

Mardl 2016, attached herewith, being submitted by the company pursuant to the requirement of
Regulauon 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015' Attention is
drawn to the fact that the figures for the quarter ended 31* March 2016 and the corresponding quarter
ended in the previous year as reported in the Statement are the balancing figures between audited
figures in respect of the full financial year and the published year to date figures upto the end of the third
quarter of the relevant financial year. Also, the figures up to the end of the third quarter had only been
reviewed and not subjected to audit. The Statement has been prepared on the basis of annual financial
statements and reviewed quarterly Rnancial results upto the end of third quarter which are the
responsibility of the company's management. our responsibility is to express an opinion on the
Statement based on our audit of such standalone financial statements, which have been prepared in
accordance with the recognition and measurement principles laid down under Section 133 of the
companies Act, 2013 Cthe Acr) read with rule 7 of the companies (Accounb). Rules. 2014 and other
accounung princjples generally accepted in India and in compliance with requirement of Regulation 33 of
$e SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2.

We conducted our audit in accordance with the auditing standards generally accepted in India' Those
sbndards require that we plan and perform the audit to obtain reasonable assurance about whether the
Statement is free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts disclosed as financial results. An audit also indudes assessing the accounting
princjples used and significant estimates made by management. We believe that our audit provides a
reasonable basis for our opinion.

3,

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

(i)

is

presnted

in

accordance

with the requirements of Regulation 33 of the SEBI

(Usting

Obligations and Disclosure Requiremenb) Regulations, 2015 in this regard; and

(ii)

KOLKATA

give a true and fair view of the net loss and other Rnancial information for the quarter ended 31n
March 2016 and for the vear ended 31* March 2016.

NEW DELHI

MOMBAI

CHENNAI

BANCALORE

Singfri

st, Co.
contd

Chartered Accountants

Attention is drawn to the following

A,

on future
carry forward of minimum altemate tax (MAT) credit entidement of Rs. 111'94 Lacs based
bxable income projected by the company.

B,

to Rs' 356'20
Non-provision for diminution in value of investment of a subsidiary company amounting
to Rs'
lacs and non-provision for advances and security deposib given to such subsidiary amounting
388.35 lacs.

For Singhi & Co.

Chartered Accountants
Firm's Registration No: 302049E

Partner

Membership No:305161

Place: Kolkata

oate:

3dMay

zotS

FORM A
9_or_erleterst!he_&t!_\t_4A!tglt_Be_po_(_t_o_b_e_tlqdwlt!_ti_e_S_t_o_c!_ErgbalCe_S
I?g!s_qq!_t_t!)_Eegulagg0_3=3_ol_S_E_B_U!'Sglrg_qbljgaJio_qs_a'td_

pjlclo_s_u_rg_[e_qu_i1e_r1-e4!sJ

-R_esulctjens-,?9_151

1. Name of the Company

JAY SHREE TEA

2. Annual financial statements for the year

& INDUSTRIES LIMITED

31" March, 2016 (Standalone)

ended:
3. Type of Audit observation

Apoeared as Emphasis of Matter:

The auditors' in their audit report have referred

regarding carry forward of minimum

alternate tax (MAT) credit entitlement of Rs. 111.94
lacs based on the future taxable income projected by

the Company.
tl

Further . -.

have

referred

regarding non-provision for diminution in value of

investment of a Subsidiary Company amountinB to

Rs.

356.20 lacs and non-provision for advances & security

deposlts Biven
388.35 lacs.
4. Frequency of observation

to

such subsidiary amounting

to

Rs.

Audit observation no. 3(i) as above in relation to MAT

credit entitlement is being referred since 2009-10.

Audit observation no. 3(ii) as above regarding nonorovision for diminution in value of investment of

Subsidiary Company is being referred since 20082009 and reference of non-orovision for advances &
securities has been made since 2009-10.

N/)

+-JqL
ADITYA SINGHI

(Statutory Auditor)

S.K.TAPURIAH

R.K.GANERIWAIA

D.P.MAHESHWARI

(Audit Committee

(President, CFO &

(ManaginB Director)

Chairman)

Secretary)

Stngfri

sf, Co,

Char tered. Acco untants

E

qEMLD HOOSE, 4th Floor, l B, OLD POST OFFICE STREEI

@ : +91(O133'224a'4573ft7,98362

KOLKATA-7OO 001

33222'Fax +91(0)33-2230-?146 . E-mail : kolkata@singhico.com

. Website : wwrr,.singhico.com

Auditor's Report on Consolidated Year to Date Results of Jayshree Tea & Industries Limited
pursuant to the Regulation 33 of SEBI (Listing obligations and Disclosur Requirements)
R6gulauorc, 2015
To
Board of Dircctors of
Jayshree Tea & Industries Limited

1.

We have audited the consolidated financial results Cthe Statement) of Jayshree Tea & Industies Limited
Cthe Company), its subsidiaries and jointly controlled entities (collectively referred to as'the Group) for
the year ended 31i March 2016, attached herewith, being submitted by the @mpany pursuant to the
requirement of Regulation 33 of SEBI (Usting Obligations and Disclosure Requiremenb) Regulations, 2015.
The Statement has been prepared on the basis of annual consolidated flnancial statemenb which are the
responsibility of the Company's management. Our responsibility is to express an opinion on the Staternent
based on our audit of such consolidated financial statements, which have been prepared in accordance with
the recognition and measurement principles laid down under section 133 of the companies Act, 2013 cthe
Act) read with rule 7 of the Companies (Accounb) Rules, 2014 and other accounting princjples generally
accepted in India and in compliance with requirement of Regulation 33 of the SEBI (Listing Obligabons and
Disclosure Requirements) Regulationt 2015.

2.

We conducted our audit in accordance with the auditing standards generally accepted in India. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the
Statement is free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts disclosed as financial results. An audit also includes assessing the accounting
principles used and significant estimates made by management. We believe that our audit Drovides a
reasonable basis for our opinlon.

3.

We have not audited the financial statements/financial information of three Indian subsidiaries whose
financial statements reflect total assets of Rs.6331.04 lacs as at 31d March 2016, total revenues of Rs.
85'33 lacs and net cash inflow amounting to Rs. 1.10 lacs for the year ended on that date, as considered in
the consolidated financial statements. These financial statements/ financial information have been audited
by other auditors whose reports have been furnished to us by the Management and our opinion on the
consolidated financial statements, in so far as it relates to the amounts and disclosures included in resoecr
of these subsidiaries and our report in term of subsections (3) and (11) of section 143 of the Act, in
so far
as it relates to the aforesaid subsidiaries is based solely on the reports of the
other auditors.

4.

We have relied on the unaudited consolidated financial statements of a foreign

subsidiary and a foreign
joint venture, whose consolidated financial statements
reflects total assets of Rs. 1012G.24 lacs as at 3td
Mardl 2016 / 31$ December 2015, total revenue of Rs. 5154 lacs
and net cash inflow arnounting to Rs.

365'78 lacs for the year ended on that date. These unaudited
consolidated financial statements have oeen
prepared in accordance with the__generally accepted
accounting principal in India and other recognized
ac.oun.ng practice and poricies (Indian GMp) fofiowed
by the Hording c.ompany and approved oy tne
management' our report in so far as it relates to the
amounb included in respect to above consotioated

financial statements is based solely on such approved

unaudited financial statements.

KOLMTA

NEW DELHI

MUMBAI

CHENNAI

BANCALORE

Singfii

{, Co.
contd.

Chafiered Accountanils

Our oDinion on the consolidated financial statements, and our report on other legal and Regulatory
Requirements below, is not modified in respct of the above matters with respect to our relian@ on the
work done and the reports of the other auditors and the Rnancial statements/ flnancial information certified
by tie Management.
Basis for Qualified Opinion

Non-provision of accumulated gratuity liability up to 31.3.2009 of Rs. 96.68 lacs in a subsidiary company as
per the requirement of Accounting Standard - 15 on "Employee Benefits"
Had tie above impact be considered, consolidated Loss after tax for the year would have been Rs. 909.99
lacs as against the reported loss of Rs. 813.31 lacs and the reserve and surplus balance as on 31'3'2016
would have been Rs. 38760.55 lacs as against the reported figure of Rs. 38857.34 lacs.

In our oDinion and to the best of our information and according to the explanations given to us the
Statement:
7.

(i)

Include financial results of the following entities:

Name of the Entity
North Tukvar Tea Company Limited
Jayantika Investment & Finance Ltd.(formery

Relationship
Subsidiary
Subsidiary

Parvati Tea Company Ltd.)

Induding its Associate Company namely

1.

ECE Industries Ltd.

Birla Holdings Limited

Including its Subsidiaries namely:
Kijura Tea Company Ltd.

1.
2.

Subsidiary

Bondo Tea Estates Ltd.

Tea Group Investment ComPanY Ltd.

Including its Subsidiaries namely:
Mata Tea ComDanv Ltd.
Gisakura Tea Company Ltd.

Joint Venture

1.
2.

Majhaulia Sugar Industries

M.

Ltd.

Subsidiary

(ii)

have been presented in accordance with the requirements of Regulation 33 of the SEBI (Usting
Obligations and Disclosure Requirements) Regulations, 2015 in this regarq; and

(iii)

Except for the effect of the matter as mentioned in paragraph 5 above give a true and fair view of
the consolidated net loss and other financial information for the year ended 31{ March 2015.

Singfri st

Co.
contd

Chartered Accountants

8.

Attention is drawn to the following

fon/lrard of minimum altemate tax (MAT) credit entitlement

future b)@ble income poected by the company.

A, Grry

Our opinion is not modified in the respect of the above matter'

For Singhi &

co,

Chartered Accountants
Firm's Registration No: 302049E

A\ L.. I
-Utt*-fL(Aditya Singhi)
Parner
Membership No: 305161
Place : Kolkata

oate

:3d

May 2016

of Rs. 116,78 lacs

based on

FORM A

COVE RLETTER OF THE ANNUAL AUDIT REPORT TO BE FILED WITH THE STOCK EXCHANGES

(Pursuant to Regulation 33 of SEBI (Listlng Obligations and Disclosure Requirements)

Regulations 2015

1.

2
3

Name of the company

JAY SHREE TEA

Annual financial statements for the

year ended
Type of Audit observations

31" March 2016 (Consolidated)

& INDUSTRIES

LTD.

Appeared as qualified opinion:

The Auditors in their Audit Report have made

qualified opinion towards non provision of

accumulated gratuity liability upto March 31"
2009 amounting to Rs.95.58 lac in a subsidiary
2

Appeared as Emphasis of Matter

The Auditors in their Audit Report have referred

. ,'
regarding carry forward of
minimum alternative tax (MAT) credit

entitlement of Rs.116,7? lacs based on the future

taxable income projected by the company.
4

Frequency of opbservation

(1)

Audit observation No.l as above in relation to

non provision of accumulated gratuity liability is
being referred since 2008-09.

(2)

Audit observation No.2 as above in relation to

MAT credit entitlement is being referred since
2009-10.

R.K.

RIWALA

(President, CFO &

Secretary)

D.P.MAHESHWARI

(Managing Director)