STERTOOLS2024-01-012024-03-31 STERTOOLS2024-01-012024-03-31 STERTOOLS2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member STERTOOLS2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member STERTOOLS2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 530759 STERTOOLS NOTLISTED Sterling Tools Limited Equity 2023-04-01 2024-03-31 2024-05-10 2024-05-03 INR Lakhs Yearly 15:18:00 16:40:00 2024-05-10 2024-05-10 true Cash Flow Indirect Declaration of unmodified opinion Single segment FASTENERS 2024-01-01 2024-03-31 Audited Consolidated 2692485000.00 9428000.00 2701913000.00 1418528000.00 0.00 33821000.00 181432000.00 22152000.00 82672000.00 750134000.00 2488739000.00 213174000.00 0.00 213174000.00 60713000.00 -10043000.00 50670000.00 0.00 162504000.00 0.00 0.00 0.00 0.00 162504000.00 -29262000.00 133242000.00 162504000.00 0.00 -29262000.00 0.00 72048000.00 2 4.51 4.51 0.00 0.00 4.51 4.51 1. The consolidated annual financial results of Sterling Tools Limited (the 'Holding Company') for the year ended 31 March 2024 have been extracted from the audited consolidated financial statements and have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 10 May 2024. The statutory auditors of the Holding Company have expressed an unmodified audit opinion on these consolidated annual financial results. 2.The above results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ('Ind AS') as notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended) specified under section 133 of the Companies Act, 2013, other accounting principles generally accepted in India and in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (as amended). 3. Figures for the quarters ended 31 March 2024 and 31 March 2023 represents the balancing figures between the audited figures in respect of the full financial year and published year to date reviewed figures upto the third quarter of the years ended 31 March 2024 and 31 March 2023 respectively. 4. The Group is primarily in the business of manufacturing of automotive components which falls within a single business segment in terms of the Indian Accounting Standard 108 - Operating Segments and hence no additional disclosures have been furnished. 5. The Board of Directors of the Holding Company have considered and recommended a final dividend of Rs. 2 per share (face value of Rs. 2 per share) [previous year- Rs. 2 per share (face value of Rs. 2 per share)] for the financial year 2023-24 which is subject to approval of the members at the ensuing Annual General Meeting. 6. Exceptional items includes: Particulars Three months ended 31 March 2024 Preceding three months ended 31 December 2023 Corresponding three months ended 31 March 2023 Year ended 31 March 2024 Year ended 31 March 2023 (a) Insurance claim - - - 60.10 673.49 (b) Interest - - (329.23) (20.39) (329.23) Total - - (329.23) 39.71 344.26 a. pertains to insurance claim received from an insurance company on account of a fire incident in an earlier year at one of the Holding Company's manufacturing facility. b. pertains to estimated interest liability recognised by the Holding Company on proposed foreclosure of authorisation license under Export Promotion Capital Goods (‘EPCG’) scheme 7. The Board of Directors of the Holding Company have considered and approved the amalgamation of Haryana Ispat Private Limited, a wholly owned subsidiary, by way of a scheme of amalgamation in its meeting dated 1 February 2024. Thereafter, the scheme has been filed at the Delhi Bench of the Hon'able National Company Law Tribunal ('the NCLT') and the approval of the NCLT is awaited. 8. During the quarter ended 31 March 2024, the Nomination and Remuneration Committee of the Holding Company at its meeting held on 31 January 2024 has granted 640,431 stock options to eligible employee's of one of its subsidiary company under the 'STL-Employee Stock Option Plan-2023'. The stock options will vest over the period of 4 years and accordingly, the Group has recorded an employee stock option expense amounting to Rs 199.69 lakhs for the quarter and year ended 31 March 2024. 9. The Holding Company, during the year has incorporated a subsidiary named Sterling Advanced Electric Machines Private Limited ('SAEMPL') on 08 December 2023. 10. Previous period/year figures have been regrouped/reclassified, where necessary, to conform to the current period's classification. The impact of such reclassification/regrouping is not material to the consolidated annual financial results. Single segment 2023-04-01 2024-03-31 Audited Consolidated 9319717000.00 65394000.00 9385111000.00 4996349000.00 0.00 -72622000.00 659782000.00 94623000.00 330510000.00 2658467000.00 8667109000.00 718002000.00 3971000.00 721973000.00 195885000.00 -27562000.00 168323000.00 0.00 553650000.00 0.00 0.00 0.00 0.00 553650000.00 -34762000.00 518888000.00 553650000.00 0.00 -34762000.00 0.00 72048000.00 2 0.00 15.37 15.35 0.00 0.00 15.37 15.35 Other Expenses 750134000.00 Other Expenses 2658467000.00 0.00 2767557000.00 47616000.00 115398000.00 0.00 8676000.00 20652000.00 0.00 0.00 0.00 0.00 54190000.00 54190000.00 34148000.00 38063000.00 3086300000.00 1791027000.00 0.00 896474000.00 246058000.00 803878000.00 1040000.00 16665000.00 1964115000.00 286315000.00 4041457000.00 0.00 0.00 7127757000.00 72048000.00 4399037000.00 4471085000.00 4471085000.00 316009000.00 0.00 16810000.00 332819000.00 123208000.00 149940000.00 0.00 73743000.00 679710000.00 844126000.00 752343000.00 52699000.00 1649168000.00 256463000.00 71331000.00 0.00 0.00 1976962000.00 0.00 0.00 2656672000.00 7127757000.00 91205000.00 -156864000.00 -85132000.00 0.00 81642000.00 -1421000.00 -7248000.00 1958000.00 801000.00 169891000.00 0.00 61864000.00 1826000.00 330510000.00 0.00 807000.00 1133000.00 -27664000.00 2644000.00 -163000.00 0.00 46057000.00 19969000.00 0.00 0.00 -6360000.00 0.00 64596000.00 0.00 497937000.00 1219910000.00 0.00 0.00 0.00 203597000.00 0.00 1016313000.00 0.00 0.00 708337000.00 655000000.00 0.00 0.00 0.00 0.00 8851000.00 291757000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 33191000.00 0.00 -291009000.00 0.00 -487387000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 166760000.00 332541000.00 0.00 3789000.00 71941000.00 87381000.00 0.00 0.00 -328892000.00 200034000.00 0.00 200034000.00 46024000.00 246058000.00 -39060000.00 -46434000.00 -9798000.00 -11672000.00 0.00 0.00