5328702022-04-012022-06-305328702022-04-012022-06-30in-bse-fin:OtherExpenses1Member5328702022-04-012022-06-30in-bse-fin:OtherExpenses2Memberiso4217:INRiso4217:INRxbrli:shares532870ANKITMETALNOTLISTEDINE106I01010ANKIT METAL & POWER LIMITEDEquity2022-04-012023-03-312022-08-102022-08-03INRLakhsFirst quarterSingle segmentIron and Steel2022-08-1016:00:002022-08-1017:00:00Not applicable2022-04-012022-06-30UnauditedStandalone2071311000170002071328000120630200027960700032098400032556000164000901010002766820002206396000-1350680000-1350680000000-1350680000000-1350680001578000-13349000000141110500010-0.96-0.9600-0.96-0.96Notes: <BR> <BR> 1) The above results for the quarter ended 30 June, 2022 have been prepared in accordance with Indian Accounting Standard (Ind AS) notified under section 133 of the Companies Act 2013 read together with the Companies (Indian Accounting Standards) Rules, 2015 and have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 10th August 2022. <BR> 2) The COVID-19 pandemic has adversely impacted the economy and business. Following relaxation in COVID pandemic related restrictions from time to time improved overall performance for the quarter ended on 30th June, 2022 and improvement in overall operating performance is likely to continue. Considering the current internal and external factors, the Company has made detailed assessment of its liquidity positions/ cash flows for the next one year and concluded that there are no material adjustments required in financial results. <BR> 3) Various credit facilities availed from SBI, Allahabad Bank, IOB, UBI and IDBI have been assigned by the respective banks to Asset Reconstruction Companies under various assignment agreements between the respective banks and Asset Reconstruction Companies. In absence of information about the terms of assignments, the company is carrying the various credit facilities as appearing in the books as per the previous terms with the respective banks. <BR> In view of the above, pending finalization of the restructuring plan, the company has not provided accrued interest in its books during the quarter as the account was declared NPA by the banks. The amount of interest has been recognised in the books of accounts to the extent amount charged/realised by the banks as reflected in the Bank Statements. The amount of interest not so provided stands at ` 3,659.96 Lacs for the quarter ended 30th June, 2022 and penal interest and charges thereof (amount remaining unascertained). The unprovided liability in respect of interest on Long Term and Short Term Borrowings as on 30th June, 2022 amounted to ` 83,018.98 Lacs. The same have consequential impact on the reported figures. <BR> 4) The company has incurred loss of ` 1,334.90 Lacs for the quarter ended 30th June, 2022. The total accumulated loss as on 30th June, 2022 is ` 1,24,484.09 Lacs which is in excess of the entire net worth of the company. With the substantial improvement in raw material availability and improvement in market scenario with notification of Minimum Import Price on steel and expects that the overall financial health would improve considerably. Considering the above developments and favourable impact thereof on the Company's operations and financials, the company has prepared the financial results on the basis of ''Going Concern'' assumption. <BR> 5) In the opinion of the management, current and non current asset have a value of realization in the ordinary course of business at least equal to the amount at which they are stated in the accounts. Certain balances of “Trade Receivables”, “Trade Payables”, "Borrowings", “Advances from Customers”, “Advances Recoverable In Cash or Kind”, “Advance to Suppliers and Other Parties”, "Current Accounts and Cash Credit Accounts in Banks", etc includes balances remaining outstanding for a substantial period. The balances are subject to confirmations and reconciliations. The Balance with revenue authorities are subject to final assessment order and/or submission of returns. The reported financials might have consequential impact once the confirmations are received and reconciliation if any is made. <BR> 6) Other Operating Revenue includes Net of Liabilities no longer required amounting to ` 2,296.86 Lacs written back during the quarter ended 30th June'2022. <BR> 7) The Company operates in one reportable segment only viz. Iron & Steel. However, the Company also generates power which is entirely used for the captive consumption. Hence, Segment Reporting is not applicable. <BR> 8) The figures for the quarter ended 31st March, 2022 are the balancing figures between the audited figures in respect of the full financial year ended 31st March, 2022 and the unaudited published figures upto third quarter ended 31st December, 2021. <BR> 9) The figures for the previous period/year have been regrouped and /or reclasified to conform to the classification of current period/year wherever necessary.Power109171000Other Expenses167511000-15780000