HIRECT2024-01-012024-03-31 HIRECT2024-01-012024-03-31 HIRECT2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member HIRECT2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member HIRECT2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 504036 HIRECT NOTLISTED Hind Rectifiers Limited Equity 2023-04-01 2024-03-31 2024-05-28 2024-05-22 INR Lakhs Yearly 11:15:00 14:10:00 2024-05-28 2024-05-28 true Cash Flow Indirect Declaration of unmodified opinion Single segment Equipments & electronic components 2024-01-01 2024-03-31 Audited Standalone 1513584000.00 3771000.00 1517355000.00 1058073000.00 0.00 77648000.00 139014000.00 41349000.00 20044000.00 103816000.00 1439944000.00 77411000.00 0.00 77411000.00 1034000.00 25207000.00 26241000.00 0.00 51170000.00 0.00 0.00 0.00 0.00 51170000.00 803000.00 51973000.00 0.00 0.00 34276000.00 2 2.99 2.98 0.00 0.00 2.99 2.98 Notes : 1) The above results of the Company, which have been subjected to an audit by the Statutory Auditors of the Company, have been reviewed by the Audit Committee and taken on record by the Board of Directors at their respective meetings held on 28th May 2024. There are no qualifications in the audit report issued for the year ended 31st March, 2024. 2) The above results, published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been prepared in accordance with Indian Accounting Standards (IND AS) notified under section 133 of the Companies Act, 2013 read with relevant rules thereunder and other accounting principles generally accepted in India along with guidelines issued by the Securities and Exchange Board of India (SEBI). 3) In view of the MAT Credit available, the Company has not exercised the non revisable option permitted under section 115BAA of the Income Tax Act, 1961 as introduced by the Taxation Law (Amendment) Ordinance, 2019 4) Voluntary Retirement /Compensation Scheme for Employees at Bhandup Mumbai Plant was introduced for period from 22nd December 2023 to 5th January 2024 under which scheme, 75 employees opted for the same. Total Compensation of Rs. 699.22 lakhs paid to them is shown as an Exceptional Item for the year ended 31st March, 2024. 5) During the previous financial year 2022-2023, the shareholders approved the resolution on January 1, 2023 for issuing 13,50,000 sweat equity shares to Mr. Suramya Nevatia, Managing Director & CEO. Out of it, 5,50,000 equity shares were allotted during the previous financial year 2022-2023. The validity of this shareholders resolution under Regulation 32(4) of SEBI SBEB Regulations 2021 was twelve months from the date of passing the said resolution. No shares were allotted during the current financial year 2023-24 so remaining 8,00,000 sweat equity shares were lapsed on December 31, 2023. 6) The Company operates in a single segment as per Indian Accounting Standard (Ind AS) 108. 7) The Board of Directors have recommended a dividend of Rs. 1.20 Per equity share of Rs. 2/- each (Previous year Rs. Nil Per equity share of Rs. 2/- each). The same is subject to the approval of members of the company in the ensuing Annual General Meeting. 8) The figures for the quarters ended 31 March 2024 and 31 March 2023 are the balancing figures between the audited figures in respect of the full financial years and the published year to date figures up to the third quarter of the respective financial years. 9) The figures for the corresponding previous periods have been regrouped / restated, wherever necessary to conform with the current period's classification. FOR HIND RECTIFIERS LIMITED SURAMYA NEVATIA MANAGING DIRECTOR & CEO DIN 06703910 Place : Mumbai Dated: 28th May, 2024 Single segment 2023-04-01 2024-03-31 Audited Standalone 5175525000.00 6102000.00 5181627000.00 3815572000.00 0.00 27667000.00 523477000.00 127263000.00 74462000.00 366374000.00 4934815000.00 246812000.00 -69922000.00 176890000.00 4812000.00 46975000.00 51787000.00 0.00 125103000.00 0.00 0.00 0.00 0.00 125103000.00 422000.00 125525000.00 0.00 0.00 34276000.00 2 1211019000.00 11.39 11.35 0.00 0.00 11.39 11.35 Other expenses 103816000.00 Other expenses 366374000.00 768069000.00 81605000.00 0.00 68943000.00 142815000.00 1275000.00 0.00 24000.00 72773000.00 74072000.00 21073000.00 64146000.00 1220723000.00 967189000.00 0.00 891581000.00 3270000.00 12255000.00 319000.00 61211000.00 968636000.00 153682000.00 2089507000.00 0.00 3310230000.00 34276000.00 1211019000.00 1245295000.00 1245295000.00 233487000.00 950000.00 234437000.00 51833000.00 49508000.00 335778000.00 1055830000.00 472836000.00 71037000.00 1599703000.00 84281000.00 35305000.00 9868000.00 0.00 1729157000.00 0.00 0.00 2064935000.00 3310230000.00 Notes : 1) The above results of the Company, which have been subjected to an audit by the Statutory Auditors of the Company, have been reviewed by the Audit Committee and taken on record by the Board of Directors at their respective meetings held on 28th May 2024. There are no qualifications in the audit report issued for the year ended 31st March, 2024. 2) The above results, published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been prepared in accordance with Indian Accounting Standards (IND AS) notified under section 133 of the Companies Act, 2013 read with relevant rules thereunder and other accounting principles generally accepted in India along with guidelines issued by the Securities and Exchange Board of India (SEBI). 3) In view of the MAT Credit available, the Company has not exercised the non revisable option permitted under section 115BAA of the Income Tax Act, 1961 as introduced by the Taxation Law (Amendment) Ordinance, 2019 4) Voluntary Retirement /Compensation Scheme for Employees at Bhandup Mumbai Plant was introduced for period from 22nd December 2023 to 5th January 2024 under which scheme, 75 employees opted for the same. Total Compensation of Rs. 699.22 lakhs paid to them is shown as an Exceptional Item for the year ended 31st March, 2024. 5) During the previous financial year 2022-2023, the shareholders approved the resolution on January 1, 2023 for issuing 13,50,000 sweat equity shares to Mr. Suramya Nevatia, Managing Director & CEO. Out of it, 5,50,000 equity shares were allotted during the previous financial year 2022-2023. The validity of this shareholders resolution under Regulation 32(4) of SEBI SBEB Regulations 2021 was twelve months from the date of passing the said resolution. No shares were allotted during the current financial year 2023-24 so remaining 8,00,000 sweat equity shares were lapsed on December 31, 2023. 6) The Company operates in a single segment as per Indian Accounting Standard (Ind AS) 108. 7) The Board of Directors have recommended a dividend of Rs. 1.20 Per equity share of Rs. 2/- each (Previous year Rs. Nil Per equity share of Rs. 2/- each). The same is subject to the approval of members of the company in the ensuing Annual General Meeting. 8) The figures for the quarters ended 31 March 2024 and 31 March 2023 are the balancing figures between the audited figures in respect of the full financial years and the published year to date figures up to the third quarter of the respective financial years. 9) The figures for the corresponding previous periods have been regrouped / restated, wherever necessary to conform with the current period's classification. FOR HIND RECTIFIERS LIMITED SURAMYA NEVATIA MANAGING DIRECTOR & CEO DIN 06703910 Place : Mumbai Dated: 28th May, 2024 127263000.00 -42765000.00 -241991000.00 0.00 0.00 0.00 0.00 0.00 0.00 -60376000.00 0.00 0.00 0.00 74462000.00 0.00 0.00 0.00 252832000.00 -49389000.00 2046000.00 0.00 2214000.00 1446000.00 0.00 0.00 0.00 0.00 102916000.00 0.00 164230000.00 341120000.00 0.00 0.00 0.00 2141000.00 0.00 338979000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6207000.00 143326000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 60000000.00 0.00 0.00 0.00 0.00 139000.00 2247000.00 0.00 0.00 0.00 -194733000.00 0.00 0.00 1180000.00 0.00 0.00 0.00 0.00 0.00 90701000.00 100151000.00 12239000.00 0.00 0.00 122129000.00 0.00 0.00 -142638000.00 1608000.00 0.00 1608000.00 13917000.00 15525000.00 1132000.00 595000.00 329000.00 173000.00