NIBL2023-04-012023-06-30 NIBL2023-04-012023-06-30in-bse-fin:OneOperatingExpenses01Member NIBL2023-06-30 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 535458 NIBL NOTLISTED NRB Industrial Bearings Limited Equity 2023-04-01 2024-03-31 2023-08-02 2023-07-25 INR Lakhs First quarter 12:45:00 14:15:00 2023-08-02 2023-08-02 Not applicable Single segment Bearings Industry 2023-04-01 2023-06-30 Unaudited Consolidated 174533000.00 4440000.00 178973000.00 92322000.00 0.00 -14415000.00 52061000.00 24766000.00 23032000.00 65721000.00 243488000.00 -64515000.00 0.00 -64515000.00 0.00 0.00 0.00 0.00 -64515000.00 0.00 0.00 0.00 722000.00 -63793000.00 -686000.00 -64479000.00 0.00 0.00 0.00 0.00 48461000.00 2 -2.63 -2.63 0.00 0.00 -2.63 -2.63 1 These Consolidated financial results have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified by the Ministry of Corporate Affairs and prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and the other accounting principles generally accepted in India. This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 2The Operations of the company and its associates fall within a single primary segment viz. Industrial bearings. 3The Company's share of profit for the three months ended June 30, 2023 in an associate NIBL-Korta Engineering Private Limited is recognised in Consolidated Financial results for the three months ended June 30, 2023. The Company's share of profit in an associate NRB-IBC Bearings Private Limited (NIBC) for the three months ended June 30, 2023 is restricted to the extent of it's share of losess not recognised earlier. The unrecognized share of losses of NIBC as at June 30, 2023 is Rs. 103.42 lakhs. 4The above Consolidated financial results of the Company and its associates for three months ended June 30, 2023 were reviewed by the Audit Committee, approved by the Board of Directors at their meeting held on August 02, 2023. 5As at June 30, 2023 the Other equity of the Company is Rs. (2,442.15) Lakhs against the equity share capital of Rs 484.61 Lakhs . The management of the Company has formulated strategic plans for improving the profitability of the Company, which includes increase in sales and reduction in operating expenses. The Company also has a confirmation of financial support from it’s promoter director to meet financial obligations as and when required. The Company has issued seventy five lakhs Redeemable, Cumulative, Non Convertible Preference shares of Rs. 10/- each during the three months ended June 30, 2023, under private placement to promoter director of the Company. -2,297.21 6 Pursuant to the members’ resolution passed dated November 29, 2019 for conversion of unsecured loan of a Promoter shareholder into 2% Redeemable Cumulative Non- convertible Preference Shares of Rs. 10 each (“Preference Shares”), the Company, during the previous year, sought to increase its authorized share capital from Rs. 85 Crore (Equity share capital Rs. 5 Crore and Preference share capital Rs. 80 Crore) to Rs. 99 Crore (Equity share capital Rs. 5 Crore and Preference share capital Rs. 94 Crore) by obtaining an approval from members via a resolution approved through a postal ballot dated March 20, 2023.During the voting period for such postal ballot, the Scrutinizer invalidated the vote of a Promoter shareholder, who had initially voted against the resolution and later (during the voting period) communicated the decision to vote in favour of the said resolution. Accordingly, the Scrutinizer, in accordance with Clause 16.5.4 (d) of SS-2 ‘Secretarial Standard on General Meetings’ while counting the votes and declared that the resolution to increase the authorized share capital was passed by absolute majority (‘the decision’).Subsequently, the Scrutinizer received communication from another Promoter shareholder challenging ‘the decision’/ result published by the Scrutinizer . The Company is of the view, supported by legal opinions, that the Scrutinizer's decision is appropriate and accordingly the resolution for increase in authorised capital is valid. 7The figures for the three months ended March 31, 2023 are the balancing figures between audited figures in respect of the full financial year and published year to date figures upto the third quarter of the financial year. 8Figures for the previous periods have been regrouped / reclassified where necessary to facilitate comparision. Other expenses 65721000.00 686000.00 0.00