iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares ORIENTREF 2019-04-01 2020-03-31 2019-10-17 INR Lakhs Half yearly MANUFACTURING OF REFRACTORY AND MONOLITHICS Single segment MANUFACTURING OF REFRACTORY AND MONOLITHICS 2019-07-01 2019-09-30 Unaudited Consolidated 1801122000.00 18342000.00 1819464000.00 747606000.00 301318000.00 19343000.00 152289000.00 0.00 26444000.00 268369000.00 1515369000.00 304095000.00 0.00 304095000.00 49722000.00 -6599000.00 43123000.00 0.00 260972000.00 0.00 0.00 0.00 0.00 260972000.00 -5312000.00 255660000.00 120139000.00 1 2.17 2.17 0.00 0.00 2.17 2.17 1.The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 4, 2019.2.The consolidated financial results was prepared for the first time in the quarter ended June 30, 2019 on acquisition of a Subsidiary on May 18, 2019. The Consolidated Financial Results for the quarter ended September 30, 2019 include financial results of Orient Refractories Limited and its Subsidiary. The previous period figures are the standalone financial results of Orient Refractories Limited and accordingly are not comparable.?3. ?The consolidated financial results of the Company have been prepared in accordance with the in accordance with the Indian Accounting Standard 34, Interim Financial Reporting specified under Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) issued under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India.4.? Based on the information reported to the chief operating decision maker (CODM) for the purpose of resource allocation and assessment of performance there are no reportable segments in accordance with the requirement of Indian Accounting Standard (Ind AS) 108 on 'Operating Segment Reporting' notified under the Companies (Indian Accounting Standard) Rules, 2015. The Company and its Subsidiary operate primarily in India and has presence in International markets as well. Its business is accordingly aligned geographically, catering to two markets i.e. Indian and Outside India5. Effective from April 1, 2019 the Company and its Subsidiary have adopted Ins AS 116 ''Leases'' applied to? lease contracts existing on April 1, 2019 using the modified retrospective method. Accordingly the comparatives have not been retrospectively adjusted. The impact of Ind AS 116 is not material to the consolidated financial results. Single segment 2019-04-01 2019-09-30 Unaudited Consolidated 3690630000.00 36684000.00 3727314000.00 1498722000.00 609708000.00 71423000.00 298338000.00 0.00 50177000.00 551241000.00 3079609000.00 647705000.00 0.00 647705000.00 172024000.00 -9879000.00 162145000.00 0.00 485560000.00 0.00 0.00 0.00 0.00 485560000.00 -5848000.00 479712000.00 120139000.00 1 4.04 4.04 0.00 0.00 4.04 4.04 ?6.? On July 31, 2018 the Board of Directors of the Company, RHI India Private Limited (the 'RHI India') and RHI Clasil Private Limited (together, the Merging Entities) had granted its in-principle approval to the scheme of amalgamation of RHI India and RHI Clasil with and into the Company with the proposed appointed date of January 1, 2019. Meeting of the equity shareholders and the unsecured creditors of Orient Refractories Limited and the merging entities was held on May 17, 2019 pursuant to an order of the Hon'ble National Company Law Tribunal, Mumbai Bench (NCLT) dated March 29, 2019 for the purpose of considering, and if thought fit, approving with or without modification, the proposed arrangement embodied in the Composite Scheme of Amalgamation of RHI India Private Limited, RHI Clasil Private Limited and Orient Refractories Limited ('the Scheme'). The equity shareholders and the unsecured creditors have approved the Scheme without modification. Final hearing was held on October 23, 2019 and the order is reserved by the NCLT. The current period consolidated financial results have been prepared without considering the impact, if any of the proposed merger.?7.? During the quarter ended September 30, 2019, the Company has completed the acquisition of group of assets from Manishri Refractories and Ceramics Private Limited, for a total consideration of Rs. 4376 lacs. The group of assets include Land, Building and Plant and Machinery. The acquisition of assets has been appropriately recorded as per the requirements of Ind AS 16.?8. The Board of Directors on April 30, 2019 approved the acquisition of the entire paid-up equity share capital of ?Intermetal Engineers India Private Limited? (the 'IEIPL') a company comprising of 1,597 equity shares of Rs.100/- each to make it a wholly owned subsidiary of the Company. The process of acquisition of IEIPL was completed on May 18, 2019. The Company has paid consideration of Rs. 1,010 Lacs.NOTE 9-11 SEE ATTACHMENT