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PAN AAACRTS2OE GSTIN 26AAACR782OEJ.ZL

Date:28/05/2024

To,
The Secretary NATIONAL STOCK EXCHANGE OF INDIA LIMTTED
BSE TIMITED Listing Department
PJ Towers Exchange Plaza, 5th Floor,
DalalStreet, For.t, Bandra-kurla Complex,
Mumbai400 001 Bandra (East),
Mumbai - 400 051.
Company Code No. : 530599 Company Code : RAJRIITD
Dear Sir,
Sub: Proceedings of the Board meeting held on May 28,2O24
Ref:

The Board of Directors of the Company at its meeting held on 28th May,2024 has inter- olia:

1" Approved and taken on record the audited Financial Results of the Company for the last
quarter & year ended March 31.,2024, copy of the same is attached at Annexure l.
-
Please find enclosed herewith the Summarized audited Financial Results for the last quarter & year
ended March 3L, 2024 and the Auditors report on the Financial Results for your kind information
and records. Extract of audited financial results would also be published in one English and one
vernacular newspaper as required under the SEBI (Listing Obligations and Disclosure Requirements)
Regulations , 2015.

Pursuant to
Regulations 33 (3) (d) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, we hereby declare that the Statutory Auditors of the Company has issued the
Auditors Report under the Companies Act, 2013 and Financial Results as prepared under SEBI
(Listing Obligations and Disclosure Requirements) Regulations ,20!s for the Financial year ended on
March 3L,2024 with modified opinion. Statement on lmpact of Audit Qualifications for audit report
with modified opinion submitted along with Annual Audited Financial Results - Standalone is
attached herein and marked as Annexure - ll.
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conlp€t: +91 99795 04195, s9gg8 ?0651- E-nrcit : adrnin.sr^rrangi@rajrayan
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PAN AAACRTSaOE GSTIN 25AAACR78aOEIZL

Declaration of Reeulation 32
Regulation 32 of the SEBI (LODR) Regulations, 2OL5 (Statement of Deviation or Variation for
Proceeds of Public lssue, Right lssue, Preferential lssue, QlP,) is not applicable for the quarter ended
31sr March,2024.

The funds raised out of preferential allotment utilised fully till 30th June, 2022, basis that the
Company is not required to submit the statement of deviation(s) or variation(s) for the quarter
ended 3l't March, 2O24 and onwards.

2023:
Sr.
No.
Nature of outstanding Ason OtlO4l2OZg As on 3{0312024

L Outstandi ng Qualified Borrowings Rs.88.98 Crore Rs. 127.35 Crore

2 Highest credit rating BBB/Stable/lND 43+ BBB/Stable/tND 43+

3 Incremental borrowing done

Borrowings by way of issuance of debt

4
securities
The aforesaid Financial Results will be made available on the Company's website
http://www.ra iravon.com

Board Meeting commenced at L2.45 p.m. and concluded at 7.15 _p.m.

Kindly take the above information on your record and acknowledge.
Thanking you,
Yours faithfully,
For

RAJ A[
MA
DIN:00395370
Encl.: A/a
 RA.I RAYON INDUSTRIES TIMITED
AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 3T,2024
Registered office: Survey No . t77 lL/3,villa$e - Surangi, Dist - Silvassa, Dadra & Nagar Haveli (UT) - 39G 230.
Tel: 91-22-40343434, Far: 9r-22-40343400, email: investors@rajrayon.com, website: www.rajrayon.com
CIN No. 1u120DN1993P1c000368

( { in Lakhs, unless otherwise stated)(except per equity shore doto)

1
(a) 2r,706.23 19,534.62 11,039.50 74,509.74 73,722.39
(b) Other income 95.82 64.87 519.90 44,40
TOTAL INCOME 21,802.05 19,599.49 11,035.90 75,O29.64 !3,766.79

)
16,330.s 1 16,379.90 12,886.00 60,307.24 15,3 16.78
(b) Purchases of Stock-ln-Trade 205 15 205.15
(b) Changes in inventories offinished goods 7,488,20 (776.4o1
{c) 308.54 305.25 770 74 1,!45.7a 200.07
(d) Finance costs 396.64 282.57 118.93 1,119 58 L29.68
(el Depreciation and amortisation expense (Refer Note 3) 347.28 259.23 343.48 L, LJ+. / I r,345.63
(f) Other expenses 2,888.22 2,604.33 1,988.88 10,713.88 2,4t9.17
2L,7s9.39 19,054.98 11,339.46 74,076.66 L5,O2O,45

5 T BEFORE EXCEPTIONAT ITEMS AND TAX (1-2) 42.54 s44.sL 992.9A

4
PROFTT BEFORE TAX (3-41 42.64 992.98

TAX EXPENSE
Current Tax
Deferred Tax
TOTAL TAX EXPENSE

IT AFTER TAX (5-5)

items that will not be reclassified to profit or loss

Re-Measurement cain / (Loss) on Defined Benefit Plans 2.I3
Income Tax Effect on Above (0.s4) 0.03
TOTAI COMPREHENSIVE INCoME FOR THE PERIOD (7+81 (212.441 204.74 405.59 1r,237.681

Paid-up Equity Share Capital (Face Value of Re, 1/- each) 5,560.82 5,560.82 5,560.82 5,560.82 5,560.82
2,7s9.26 2,353.66

Earning Per Equity Share (Face Value of Re. 1/- each) (nof annualised) (not annualised) (not annualised) (annualised) (annualised)

o.o4 o.o7
0.03 0.05

See accompanying notes to the financial results

 to the Audited Financial Results for the and year ended Maich37,ZOZ4

-he
figures for the corresponding previous qu
-he
figures for quarter ended March 31, 2024 are balancing figures between
the audited figures of the full financial year and the limited reviewed year to date
hird guarter of the financial vear. figures upro
The above financial results for the quarrer a
held on May 28, 2024 and have been subjected to review by the statutory auditors.
Management has re-assessed the depreciation dur
rct of such re-assessment has been provided in the above financial results.
The Management has sent letters with Bo
InsolvencyResolutionProcesswhenthecurrentmanagementwasnotinchargeoftheaffairsofthecompany
forclosureandawaitsresponsefromthesebankers.

For Raj Rayon Industries t_imited

Mr. Rajkumar Satyanarayan Agarwal

Managing Director

Place: Mumbai
Datei MaV 28,2024
 RAJ RAYON INDUSTRIES TIMITED
AUDITED BATANCE SHEET AS AT MARCH 3T,2024

? in Lakhs, unless otherwise

Property, Plant and Equipment

2L,870.LO 13,837.38
Capital Work-in-progess
276.6r 790.35
Financial Assets
Other financial assets
L2.86 3.14
Other Non-Current Assets
402.47 3,581.s4
Deferred Tax Assets (Net)
15.98
22,562.O4 t8,228.39

Current Assets
Inventories
70,246.20 7,410.69
Financial Assets
Trade Receivables
3,530.80 2,307.80
Cash and Cash Equivalents
702.95 20.25
Bank Balances other than Cash and Cash Equivalents
2,245.92 L06.79
Current tax assets (net)
80.53 25.O4
Other Current Assets
2,627.47 3,0t2.67
19,533.97 12,883.24

Equity and Liabilities

Equity
Equity Share Capital
Instruments entirely equity in nature
Other Equity

Financial liabilities
Borrowings
7,977.8L 5,75L.36
Trade Payables
Total outstanding dues of micro enterprises and small enterprises
Total outstanding dues of creditors other than micro enterprises and small enterprises
72,539.76 7,465.48
Other Financial liabilities
470.27 463.6t
Other Current Liabilities
40.95 135.73
Provisions
o.o7 0.02
2L,O28.86 13,816.21

See accompanying notes to the financial results

 RAJ RAYON INDUSTRIES I-IMITED
AUDITED CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH
37,2024
unless otherwise

FIOW FROM OPERATING ACTIVITIES

Net Profit / (Loss) before Tax
992.99
Adjustment for:
Depreciation
r,734.7I 1,345.63
Provision for expected credit loss
r.32 2.3L
Provision for Employee Benefits
L2.52 o.D)
Net unrealised foreign exchange loss/(gain)
(Profitl / Loss on Sale of Sale of property, plant and equipment (net) 12.25
(273.ss\
Interest Income
(4.o2r,
Finance Costs
1,695.74
Profit Before Working Capital Changes
3,543.7t
(lncrease)/Decrease in Trade Receivables
(1,324.32)
(lncrease)/ Decrease in Financial and Other Assets
3,554.27
(lncrease)/Decrease in Inventories
(7,470.691
Increase/(Decrease) in Trade payables
7,476.84
Increase/(Decrease) in Financial and Other liabilities
420.57

NET CASH FLOW USED IN OPERATING ACTTVTTIES

CASH FLOW FROM INVESTING ACTIVITIES

Purchase of Property, plant & Equipment and Capital Work in progress
(6,479.8s')
ale of Property, Plant & Equipment
306.00 75.37
Investments of FDRs
(2,74s.L9]'
Interest Income
4.O2
NET CASH FTOWS FROM INVESTING ACTIVITTES

FTOW FROM FINANCING ACTIVITIES

from issue of equity share capital
770.o0
Proceeds from issue of compulsory convertible preference snares
81s.51
Proceeds/(Repayment) of Long Term Borrowings
6,932.8t
Proceeds/(Repayment) of Short Term Borrowings
5,652.25

NET CASH USED IN FINANCING ACTIVITIES

INCREASE IN CASH AND cAsH EQUIVATENTS (A+B+C)

Opening Balance of Cash and Cash Equivalents
Balance of Cash and Cash Equivalents

Note:
1' The cash flow statement has been prepared under the indirect method as set out in Indian
Accounting standard (lnd As) 7, ,statement of casn
flows'
PAN AAACR7820E GSTIN 26AAACR7820E1ZL
ANNEXURE I

Statement on Impact of Audit Qualifications (for audit report with modified opinion) submitted
along with Annual Audited Financial Results - Standalone

Statement on Impact of Audit Qualifications for the Financial Year ended March 31 , 2024
[See Regulation 33/ 52 of the SEBI (LODR) (Amendment) Regulations, 2016
I Sr Particulars Audited Figures Adjusted Figures
No (as reported (audited figures
before adjusting after adjusting
for for
qualifications) qualifications)
Rs. In Lacs Rs. In Lacs
1. Turnover / Total income 75029.64 75029.64
2. Total Expenditure 74036.66 74036.66
3. Net Profit/(Loss) 405.59 405.59
4. Earnings Per Share 0.07 0.07
5. Total Assets 42096.01 42096.01
6. Total Liabilities 31275.92 31275.92
7. Net Worth 10820.09 10820.09
8. Any other financial item(s) (as felt Nil Nil
appropriate by the management)
II Audit Qualification (each audit qualification separately):

a. Details of Audit The Statement of four inoperative bank accounts

Qualification: which are continuing in the name of the Company
from prior to the Corporate Insolvency Resolution
Process when the current management was not in
charge of the affairs of the Company was not available
for verification.
Accordingly, Auditors cannot audit and comment on
the impact, if any, on the financial statement arising
out of subsequent availability of such pending bank
statements.
Company management informed that:
The Management is in the process to obtain details
b. Type of Audit Qualified Opinion (Disclaimer of Opinion being
Qualification : Qualified financial impact could not be qualified due to non-
Opinion / Disclaimer of availability of data)
Opinion / Adverse Opinion
c. Frequency of qualification: Repetitive – From last two year
PAN AAACR7820E GSTIN 26AAACR7820E1ZL
Whether appeared first
time / repetitive / since how
long continuing
d. For Audit Qualification(s) NA
where the impact is
quantified by the auditor,
Management's Views:
e. For Audit Qualification(s)
where the impact is not
quantified by the auditor:
i. Management's NA
estimation on the
impact of audit
qualification:
ii If management is unable The Management is in the process to obtain the required
to estimate the impact, information from the Bankers to ascertain the financial
reasons for the same impact if any.
iii Auditors' Comments on Agree with management comments
(i) or (ii) above:
III Signatories
FOR RAJ RAYON INDUSTRIES LIMITED
RAJKUMAR Digitally signed by RAJKUMAR SATYANARAYAN AGARWAL
DN: c=IN, st=Maharashtra,
2.5.4.20=7000a624d19745652d84e0534594f7c3eb6be6a596c3997
KAILASHNATH
Digitally signed by KAILASHNATH JEEVAN KOPPIKAR
DN: c=IN, postalCode=400076, st=MAHARASHTRA, street=FLAT NO
G803 8TH FLOOR POWAI JAL VAYU VIHAR SECTOR A CHS LTD A S
MARGMUMBAI SUBURBANPOWAINEAR SM SHETTY SCHOOL 400076,
7beb1c8d5a6285e4e, postalCode=400049, street=44 Jaihind Soc

SATYANARAYAN Simplex House JVPD Scheme Vile Parle West Mumbai,

pseudonym=39fcb32caec6c94f90cdc9d28b818b7e,
serialNumber=10063470ade2c70aeb62081962ba098aa875fb393e
JEEVAN
l=MUMBAI SUBURBAN, o=Personal, title=5483,
serialNumber=83c4b835b39c84ba59eedd644328247e3b4584cc60f40e
52930cccd7457bd45b, pseudonym=548320230904163535753,
2.5.4.20=4f0135da1d96e0e3c2ef10b62992e3e6315808934bc3d587013f
232b9029e3d79526568d0b, o=Personal, cn=RAJKUMAR

AGARWAL SATYANARAYAN AGARWAL

Date: 2024.05.28 17:00:29 +05'30'
KOPPIKAR
96e5c7d50720, email=KOPPIK@GMAIL.COM, cn=KAILASHNATH JEEVAN
KOPPIKAR
Date: 2024.05.28 16:59:36 +05'30'

RAJKUMAR SATYANARAYAN AGARWAL MR. KAILASHNATH JEEVAN KOPPIKAR

MANAGING DIRECTOR CHAIRMAN AUDIT COMMITTEE
DIN: 00395370

STATUTORY AUDITORS
Digitally signed by FOR BAGARIA & CO. LLP
Sandiip Sandiip Satyanarayan CHARTERED ACCOUNTANTS
Satyanaraya Agarwwal FRN: 113447W/ W-100019
Date: 2024.05.28 Digitally signed by
Arun Kishanlal Arun Kishanlal Bagaria
n Agarwwal 17:05:27 +05'30' Bagaria Date: 2024.05.28
17:34:59 +05'30'
SANDIIP SATYANARAYAN AGARWWAL ARUN BAGARIA
WTD and CFO M.NO. 036732
DIN: 00395348

Place Mumbai
Date: 28/05/2024