CIN: L40109TG1986PLC006745

HBL
D.No. 8-2-616, Plot No. 4,
Behind Minerva Grand Hotel,
Road No. 11, Banjara Hills,
Hyderabad - 500 034, T.S., INDIA
Phone 1 +91-40-66167777 HBL Power Systems Ltd.

May 27, 2024

The Department of Corporate Services The Listing Department 1
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex
Daial Street Mumbai - 400 001 Bandra (East) Mumbai—400 051
_BSE STOCK CODE: 517271 NSE CODE: HBLPOWER
Dear sir / madam,
OUTCOME OF THE BOARD MEETING HELD ON MAY 27, 2024
We refer to our communication dated April 29, 2024 read with May 01, 2024 and pursuant to Regulations
34(2),
47(1) and 53 of SEBI (LODR) Regulations, 2015, we wish to inform you that the Board of Directors
at their
meeting held on May 27, 2024, inter-alia approved the following:

1. The audited (standalone and consolidated) financial statements of the Company for the year ended
on
March 31, 2024 along with draft Auditors’ report thereon. Pursuant to para 4.1 of SEBI Circular No.
CIR/CFD/CMD/56/2016 dated May 27, 2016 the Report of the Auditors is with unmodified opinion.

2. The financial results (standalone and consolidated) for the quarter and year ended on March 31, 2024,
prepared pursuant to SEBI (LODR) Regulations, 2015.
3. Recommendation of dividend of 50% (i.e. 0.50 paise on each paid-up share of Rupee One each) for
the
financial year 2023-24, subject to approval of members at the next Annual General Meeting.
4. Ratified the appointment of M/s LNR Associates, Chartered Accountants, as statutory independent auditors
of the Company.
5. Reappointed M/s Narashimha Murthy & Co, as Cost Auditors and CS Vinay Babu Gade, Company Secretary
in Practice as a Secretarial Auditor.
6. The related party transactions (RTP) for the year ended March 31, 2024 and the proposed RTP for FY 2024~
25 which are within the limits .
7. Appointed Mr. Mikkilineni Satyanarayana Subramanya Srinath (DIN 00319175) as an Executive Director for
a period of 5 years with effect from May 27, 2024 and Mrs. Aparna Surabhi (DIN 01641633) as an
Independent Director (Non-Executive — Non-retiring) Director with effect from May 27, 2024 subject to
approval of members in the ensuing annual general meeting. The disclosures required to be given pursuant
to SEBI circular CIR/CFD/CMD/4/2015 dated September 9, 2015 are mentioned in Annexure.
8. The date of 38" annual general meeting of the Company on Thursday, September 26, 2024.
Standalone and consolidated audited financial results of the Company for the quarter and year ended on March
31, 2024 are enclosed.

The meeting commenced at 10:30 a.m. and ended at 01:30 pm.

This is for your information and record.

Yours faithfully

GBS Naidu Z\&

Company Secretary &g e
)

Regd. Office :
HBL Power Systems Limited
Road No.10, Banjara Hills, Hyderabad - 500 034.
Website : www.hbl.In
 Annexure

The disclosures required to be given pursuant to SEBI circular CIR/CFD/CMD/4/2015 dated

September 9, 2015 - Details of Mr. Mikkilineni Satyanarayana Subramanya Srinath (S| No.7 of the
announcement)

Name of the appointee [ Mr. Mikkilineni Satyanarayana Subramanya Srinath (Mr. MSS Srinath)
(DIN:00319175)
Date of appointment Appointed for a period of five years with effect from May 27, 2024.
Brief profile Mr. MSS Srinath has been an Executive Director on the Board of the Company Since |
2000 till August, 2020 and due to regulatory compliance related to proportion of
the independent Directors on the Board, Mr. Srinath had to re-designate his
position from Executive Director to President without any change in his overall role
and responsibilities in the Company. Now, with the change in composition of the
Board, it is recommended for his appointment on the Board again. Mr. MSS Srinath
has extensive expertise in business management and specific focus on marketing
and administrative affairs.
Proposed terms and Not exceeding Rs.92.00 lakhs per annum including following perquisites and other
conditions of allowances:
reappointment Perquisites:
a. House rent allowance or Provision of house accommodation subject to
maximum monthly rent at 40% of the basic salary.
Salary of a driver appointed by the appointee for engaging on official duties
will be reimbursed by the Company.
¢ Annual leave with Salary as per the rules of the Company.
d. Company’s contribution to provident fund and gratuity as per the rules of the
Company.
e. Provision of a car for the use of Company’s business and telephone at
residence (including usage of mobile phone) will not be considered as
perquisites.
. Telephone expenses (office and residence).
Mr. MSS Srinath, Director shall be entitled to reimbursement of actual travelling,
boarding, lodging, entertainment and any incidental expenses in India or abroad,
incurred by her in connection with company’s business purposes.
Nature of Duties: Mr. MSS Srinath shall carry out such functions, exercise such
powers and perform such duties as the Board and the Chairman and Managing
Director shall, from time to time, in their absolute discretion determine and entrust
to him.
Disclosure of relationships Mr. MSS Srinath is son-in-law of Dr. A J Prasad, Chairman and Managing Director
between directors (in case and Husband Mrs. Kavita Prasad, Non-Executive Non-Independent Directors and
of appointment of a father of Mr. Advay Bhagirath Mikkilineni and Ms. Deeksha Mikkilineni, Non-
director). Executive Non-Independent Directors of the Company.
The disclosures required to be given pursuant to SEBI circular CIR/CFD/CMD/4/2015 dated
September 9, 2015 - Details of Mrs. Aparna Surabhi (S| No.7 of the announcement)
Name of the appointee Mrs. Aparna Surabhi (DIN:00319175)
Date of appointment Appointed for a period of five years with effect from May 27, 2024.
Brief profile She is the founder of the CA firm S.Aparna and Co. and had been in active practice
since the year 1991 till 2019. She has around 28 years of experience in handling
audits of all kinds and has been a consultant for many start-up businesses. Her CA
firm is now a partnership firm and is handled by her partner while she remains an
advisor to the firm.
 Her tryst with entrepreneurship was not only by way of her own Chartered
Accountancy firm but also in setting up and successfully growing Caliber
Technologies Private Limited, a company providing IT solutions for regulated
markets. She oversees the three main functions in the company viz. the finance, HR
and Operations. She is currently the CFO and CHRO of Caliber Technologies Private
Limited from 1st April 2019.

She actively works with the CSR wing of Caliber Technologies Private Limited viz.
Caliber Foundation that works in the areas of education and health in semi-urban
areas.
She is also an Independent Women Director in Heritage Foods Limited, Heritage
Nutrivet Limited, and in Optival Health Services Private Limited which is a material
subsidiary of Medplus. She is the Chairman of the Audit Committees in all the
companies in which she is an Independent Director.
Proposed terms and Appointed as a Non-Executive Independent Director not liable to retire by rotation.
conditions of
reappointment
Disclosure of relationships No relationship with any of the Directors.
between directors (in case
of appointment of a
director).

For HBL Power SystemsLi

= 5A
q.;g;\)w-&&- &
GBS Naidu
Company Secretary
Ms. No. A11234
 L N R ASSOCIATES
Chartered
\ () 101, *Seshu Villa Apartments’, Gagan Mahal,
INDIA Domalguda, Hyderaba - 500029.
d

Independent Auditor’s Report on Audit of the Standalone Annual Financial Results of HBL Power
Systems Limited, pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”)

To
The Board of Directors of HBL Power Systems Limited

Opinion

We have audited the accompanying Standalone Annual Financial Results (the “Statement”) of HBL
Power Systems Limited (the “Company”) for the year ended March 31, 2024, attached herewith, being
submitted by the Company pursuant to the requirement of Regulation 33 of the Listing Regulations.

In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid standalone annual financial results:

a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in
this regard; and

b. give atrue and fair view in conformity with the recognition and measurement principles laid down
in the applicable Indian Accounting Standards, and other accounting principles generally
accepted in India, of the net profit and other comprehensive income and other financial
information for the year ended March 31, 2024.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section
143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further
described in the Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results
section of our report. We are independent of the Company, in accordance with the Code of Ethics issued
by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant
to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we
have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of
Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis
for our opinion.

Management’s and Board of Directors’ Responsibilities for the Standalone Annual Financial
Results

The accompanying Statement includes the Standalone Annual Financial Results which have been
compiled from the related audited standalone annual financial statements for the year ended March 31,
2024. The Company’s Management and the Board of Directors are responsible for the preparation and
presentation of these standalone annual financial results that give a true and fair view of the net profit/
loss and other comprehensive income and other financial information in accordance with the recognition
and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of
the Act and other accounting principles generally accepted in India and in compliance with Regulatio

(1) We are also at Visakhapatnam Page 1 of 3 4 [email protected]

 L N R ASSOCIATES

\\ 1) 101, ‘Seshu Villa Apartments’, Gagan Mahal,

INDIA Domalguda, Hyderabad
- 500029.

records in accordance with the provisions of the Act for safeguarding of the assets of the Company and
for preventing and detecting frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent; and the design,
implementation and maintenance of adequate internal financial controls, that were operating effectively
for ensuring accuracy and completeness of the accounting records, relevant to the preparation and
presentation of the standalone annual financial results that give a true and fair view and are free from
material misstatement, whether due to fraud or error. In preparing the standalone annual financial
results, the Management and the Board of Directors are responsible for assessing the Company’s ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the Board of Directors either intendsto liquidate the Company
orto cease operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing

the Company’s financial reporting process.

Auditor’s Responsil ties for the Audit of the Standalone Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone annual financial
results as a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not
a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered material if, individually or
in the aggregate, they could reasonably be expected to influence the economic decisions of users taken
on the basis of these standalone annual financial results.

As partof an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

1. Identify and assess the risks of material misstatement of the standalone annual financial results,
whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk
of not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control.

2. Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are
also responsible for expressing our opinion through a separate report on the complete set of
financial statements on whether the company has adequate internal financial controls with
reference to financial statements in place and the operating effectiveness of such controls.

3. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures in the standalone annual financial results made by the
Management and Board of Directors.

Conclude on the appropriateness of the Management and Board of Directors’ use of the going
concern basis of accounting and, based on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt on the

A7) We are also at Visakhapatnam Page 2 of 3 [email protected]

 L N R ASSOCIATES
artered un nts
1) 101, ‘Seshu Villa Apartments’, Gagan Mahal,
Domalguda, Hyderabad - 500029.

appropriateness of this assumption. If we conclude that a material uncertainty exists, we are

required to draw attention in our auditor’s report to the related disclosures in the standalone
annual financial results or, if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of .our auditor’s report.
However, future events or conditions may cause the Company to cease to continue as a going
concern.

5. Evaluate the overall presentation, structure and content of the standalone annual financial
results, includingthe disclosures, and whether the standalone annual financial results represent
the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant
ethicalrequirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.

Other Matters

The accompanying Statement include the results for the quarter ended March 31, 2024 being the
balancing figure between the audited figures in respect of the full financial year and the published
unaudited yearto date figures up to the third quarter of the current financial year which were subject to
limited review by us.

ForLN R Associates
Chartered Accountants
FRN 05381S

%
Raghuram Vedula Place: Hyderabad
Partner Date: May 27, 2024
M.No. 242883
UDIN: 24242883BKGWET4230

(1) We are also at Visakhapatnam Page 3 of 3 [4 [email protected]

HBL Power Systems Ltd
CIN:L40109TG1986PLCO0GT45
8-2-601, Road No.10
Banjara Hills HBL
Hyderabad - 500 034
Audited Standalone Financial Results for the year ended 31st March 2024 Rs.in Lakhs
Quarter ending Vear ended
SLNo| Particulars 31-Mar-24 | 31-Dec23 | 31-Mar-23 | 31-Mar24 | 31-Mar-23
[Unaudited] | [Unaudited] | [Unaudited] | _[Audited] [Audited]
1 [Income from operations
[al Sales / Income from operations 6042822 | 5945078 | 3978064 | 22085042 | 13497401
[b] Other Income 65535 393.74 51955 1,665.41 178411
Total Income 61,083.57 | 5985352 | 4030019 | 22252483 | 1,36759.02
2 |Expenditure
a] Cost of Materials Consumed 2715112 | 3318103 | 2617304 [ 12029960 8253919
[b] Purchase of Stock-in-Trade (366.02) 1825 10771
[c] (Increase) / Decrease in Finished goods, -
work in Progress and stock-in-trade 176737 | (181891)] (1023.49) (6,001.08) 1582
[d] Employee Benefits expense 506253 | 350097 [ 275570 1495495 1043335
fe] Finance Costs 397.77 31681 237.08 124189 62296
[f] Depreciation and Amortisation expense 1027.07 | 103897 919.06 394074 343063
Ig] Other Expenses 1331625 | 1344247 | 791251 4973621 27,10034
Total Expenses 48,72211 | 4967034 | 36607.88 | 184190.56 | 1,24,259.00
3 [Profit/(Loss) before exceptional Items (1-2) 1236146 | 10,183.18 | 3,69231 | 3833427 | 1250002
4 [Exceptional items - Income / (Expenditure) (z52261) (28394) (11489 (2817.25) 13326
5 |Profit/(Loss) before Tax (3+4) 9838.85 | 989924 | 357742 | 35517.02 | 1263328
6 [TaxExpense
fal Current Tax 258000 | 2,749.00 800.00 938000 3,10000
[b] Deferred Tax (Asset)/Liability 200.48 (399.69) (703.79) (180.24) (19.16)
[c] Income Tax relating to previous years (0.03) (6169) (190) (61.72) (141)
7 | Net Profit/(Loss) after Tax (5-6) 705841 | 761162 | 348311 | 26378.99 9,553.85
8 |Extracrdinary Items (net of tax expense) : - - - -
9 |Net Profit/(Loss) for the period (7-8) 705841 | 761162 | 348311 | 26378.99 9,553.85
10 |Other Comprehensive Income (Net of tax)
Items that will not be reclassified to Profit or Loss -
Remeasurement of Defined Benefit Plans (153.56) (2111) 754 (226.18) (98.28)
Income Tax 3864 532 (189) 5692 2474
1] ltems that may be reclassified to profit or loss -
Exchange differences in translating the financial
statements of foreign operations .
Income Tax :
11 [Total Comprehensive Income ( 9+10) 694349 | 7,59583 | 348876 | 2620073 9,480.30
12 |Paid-up equity share capital
(Face Value Re 1/- each) 277195 | 277195 | 277195 277195 277195
13 [Reserves excluding revaluation reserves
(as per Balance sheet of previous accounting year) 117,762.38 9280003
14 [[1] Earnings Per Share (before extraordinary items)
(of Re 1/- each) (not annualised
fal Basic 250 274 126 946 342
b] Diluted 250 274 126 946 342
[ii] Earnings Per Share (after extraordinary items)
(of Re 1/- each) (not annualised):
[a] Basic 250 274 126 946 342
[b] Diluted 250 274 126 946 342
1 The above financial results were reviewed by the Audit Committee in its meeting held on May 27, 2024 and approved by the Board of
Directors at the meeting held on May 27, 2024. Above meetings were held through video conference,
2 The figures of the quarter ended March 31, 2024 are the balancing figures between the audited figures in respect of the full financial year
and the published year to date figures upto the third quarter of the current financial year.
3 EPSis calculated based on total comprehensive income which is attributable to equity shareholders.
4 The Board of Directors have recommended a Dividend
0f 50% on the paid-up capital
of the company, representing 20.50 per Equity Shareof
Re.1 each paid-up.
Figures of the previous quarters/ periods have been regrouped, wherever necessary.
The results shall also be available on website of the Company : http://hbl.in/investors; BSE: www:bseindia com and NSE: www.nseindia.com

By order of the Board For LNR Associates

for HBL Power Systems Limited Chartered Accountants
Firm Registration No. 05381

Dr. A] Prasad Raghuram Vedula

Chairman & Managing Director Partner
DIN : 00057275 M.No: 242883
UDIN: 24242853 8R4 WET4230
Place: Hyderabad Place: Hyderabad
Date: May 27, 2024 Date: May 27, 2024
HBL Power Systems Ltd
CIN:L40109TG1986PLCO06745
8-2-601, Road No.10 HBL
Banjara Hills, Hyderabad - 500 034
Standalone Statement of Assets & Liabilities Rs.in Lakhs
Asat Asat
SI.No| Particulars 31-Mar-24 31-Mar-23
[Audited] [Audited)
A |AsSETS
1 |Non Current Assets
[a] Property, Plant and Equipment 33,306.37 29,944.20
[b] Capital Works in Progress 1,798.71 2,432.90
[c] Right of use assets 42239 549.23
[d] Intangible Assets 789.29 1,168.72
[e] Intangible Assets under development . 2,488.94
[f] Financial Assets
fi) Investments 9,32263 806.23
[ii] Loans 220.00 201.53
(i) Other Financial Assets 6,987.50 422001
[g) Other Non Current Assets 17666 .44
Sub-total - Non-Current Assets 53,023.59 41,820.30
2 |Current Assets
[a] Inventories 42,891.80 33,122.82
[b] Financial Assets
il Investments. 258 258
[ii] Trade Receivables 38,565.17 32,353.60
[iii] Cash and cash equivalents 22,057.47 12,995.77
[iv] Other Bank Balances 1,47.98 1,394.64
[v] Others 1,590.27 1,046.56
[c] Current tax assets (net) - 300.85
[d] Other Current Assets 3,097.60 6,260.62
[e] Assets held for sale - o
Sub-total - Current Assets 1,09,352.87 87,477.45

TOTAL ASSETS 1,62,376.46 1,29,297.75

B |EQUITY AND LIABILITIES
1 |Equity
[a] Equity Share Capital 2,771.95 2,771.95
[b] Other Equity 1,17,762.38 92,800.03
Sub-total - Shareholders’ funds [ _ 12053433 95,571.98
2 |Non Current Liabilities
[a] Financial Liabilities
[i] Borrowings 1,593.06 3,778.20
[ii] Lease Liability 264.91 36338
[b] Provisions. 251.82 224.91
[c] Deferred Tax Liabilities (Net) 789.49 1,026.66
[d] Other non-current liabilities =
Sub-total - Non-Current Liabilities 2,899.28 5,393.15
3 [Current Liabi
[a] Financial Liabilities
[i] Borrowings 349064 3,775.86
(i) Lease Liability 22624 22995
[iil] Trade Payables
[a] Total outstanding dues of MESE 1,492.61 1,713.12
[b] Total outstanding dues to creditors other than M| 11,380.58 7,944.79
[iv] Other financial liabilities 6,415.96 6,167.20
[b] Other Current Liabilities 8,403.87 4,598.02
[c] Provisions 6,746.48 3,903.68
(d) Current
Tax Liability (net) 786.46 -
Sub-total
- Current Liabilities 38,942.85 28,332.62

[TOTAL - EQUITY AND LIABILITIES 1,62,376.46 1,29,297.75

By order
of the Board For LNR Associates
For HBL Power Systems Ltd Chartered Accountants

Dr. AJ Prasad Raghuram Vedula

Chairman & Managing Director Partner
DIN : 00057275 M.No : 242883 _
UDIN : 142428628
KA w€T422.0
Place: Hyderabad Place: Hyderabad
Date: May 27, 2024 Date: May 27, 2024
HBL Power Systems Ltd i
Audited Standalone Cash Flow Statement for the year ended March 31, 2024 LT,
Rs. in Lakhs
31-Mar-24 31-Mar-23
A cash flow from operating activities
Net profit before tax and exceptional items 38,334.27 12,500.02
Exceptional items - income / (expenditure) (2,817.25) 133.26
Other comprehensive income (net) (226.18) (98.28)
Total comprehensive income before tax 35,200.64 12,535.00
Adiustments for:
Depreciation 3.141.29 2,685.28
Amortisation 603.02 569.01
Right of use assets 196.43 176.34
Diminution in value of investments 300.00 051
Profiton sale of investments
Profit/Loss on sale of assets 6.18 (457.20)
Advances & deposits written off 17420 453
Interest income (642.95) (564.77)
Interest expense 793.01 40326
Bad debts written off (Credit impairment) = 52.32
Provision for doubtful debts (Lifetime expected credit loss) 955.43 127.63
Other provisions 2,869.71 1,337.22
839632 433413
Operating profit before working capital changes 43,687.16 16,869.13
(Increase)/decrease in trade receivables (7,167.00) (1,767.71)
(Increase)/decrease in inventories (9,768.98) (2,969.27)
(Increase) /decrease in loans & advances (90.14) (379.22)
Increase/(decrease] in trade payables 3,215.28 1,072.16
Increase/(decrease) in current liabilities 4,190.49 3,013.59
(9,62035) (1,030.46)
Cash generated from operations 34,066.81 15,838.67
Income tax paid net of refunds (8,292.67) (3,639.90)
Income tax adjustment relating to previous years 6172 141
Net cash flow from operating activities (A) 25,835.86 12,200.18
B | Cash flow from investing activities
Purchase of fixed assets (4.414.72) (6,060.83)
Sale procecds of fixed assets 562.82 966.35
Purchase of Investments (8,816.40) (295.51)
Addition of investments on account of business combination
Sale proceeds of investments
Interest received 642.95 56477
Net Cash flow from investing activities (B) (12,025.35) (4.825.22)

C [Cash flow from financing activities

Repayment of long-term borrowings 1544.26 (1,666.17)
Payment of lease liability 238.06 22851
(Increase)/decrease in working capital borrowings 926.10 (915.46),
(Increase)/decrease in unsecured loans - -
Dividend payment 1,247.38 1,108.78
Interest paid 793.01 403.26
Net cash flow used in financing activities ( C) 474881 (841.08)’

D |Netincrease in cash and cash equivalents (A+B-C) 9,061.70 8216.04

Cash and cash equivaents at beginning of the period 12,995.77 4,779.73
Cash and cash equivalents at end of the period 22,057.47 12,995.77
Cash and cash equivalents
Cash on hand 1029 446
Balances with banks 22,047.18 12,991.31
Total 22,057.47 12,995.77

By order
of the Board s For LNR Associates
for HBL Power Systems Ltd 2 2 Chartered Accountants f
Firm Rezlsnflr:w‘n’;s}n
=, ~pErReAD)
A Qf&afix L %\\wu_ J\' i\
Dr.A] Prasad 5 0*7/ Raghuram Vedula
Chairman & Managing Director X Partner
DIN: 00057275 MNo: 242883
UDIN: 24142952 $KGWETA220
Place: Hyderabad Place: Hyderabad
Date: May 27, 2024 Date: May 27, 2024
 HBL Power Systems Ltd
CIN:L40109TG1986PLC006745 HBIL
Audited Standalone Segment-wise Revenue, Results and Capital Employed
For the year ended March 31, 2024 Rs. in Lakhs
Quarter ending Year ended
31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23
[Unaudited] | [Unaudited] | [Unaudited] [Audited] [Audited]
Segment Revenue

Industrial Batteries 36,062.58 37,160.72 29,409.89 1,40,31228 | 1,00,01195

Defence & Aviation Batteries 6307.67 585912 3,685.08 17,961.17 18,320.98
Electronics 16,808.43 15,068.76 5503.44 54,066.96 13,550.74
Unallocated 1,71549 1,432.71 1,330.91 9,304.25 3,849.60
Total 60,894.17 59,521.31 39,929.32 | 2,21,644.66 | 1,35733.27
Less: Intersegment Revenue 465.95 61.53 14868 785.24 75836
Sales/Income from Operations 60,428.22 59,459.78 39,780.64 | 2,20,859.42 | 1,34,974.91

Segment Results

Industrial Batteries 596281 6,882.61 2,378.12 25562.77 10,169.67

Defence & Aviation Batteries 392931 2,545.89 1,04336 816249 5,285.80
Electronics 4,014.57 220913 306,53 9,181.82 95.72
Unallocated 389.49 (386.16) (117.80) 629.47 (799.95)
Total 14,296.18 11,251.47 3,610.21 43,536.55 14,751.24
Less: {i] Interest (397.77) (316.81) (237.08) (1,241.89) (622.96)
[ii] Exceptional Items-Income/(Expense) (2.522.61) (283.94) (114.89) (2,817.25) 13326
[iii] Other Un-allocable Expenditure net off (2,192.30) (1,145.22) (200.37) (5,625.80) (3412.37)
[iv] Un-allocable Income 655.35 393.74 519.55 1,665.41 1,784.11
Total Profit Before Tax after Extraordinary 9,838.85 9,899.24 3,577.42 35,517.02 12,633.28

Segment Assets

Industrial Batteries 66,782.47 70,616.58 55,291.70 66,782.47 55,291.70

Defence & Aviation Batteries 19,255.08 16,475.22 14,065.94 19,255.08 14,065.94
Electronics 30,167.13 41,389.30 30,265.05 30,167.13 30,265.05
Unallocated 46,171.78 3632141 29,374.20 46,171.78 29,374.20
1,62,376.46 | 1,64,802.51 | 1,28,996.89 | 1,62,376.46 | 1,28,996.89
Segment Liabilities

Industrial Batteries 10,590.75 14,246.02 15,289.05 10,590.75 15,289.05

Defence & Aviation Batteries 3,330.08 345956 1,76533 333008 1,765.33
Electronics 17,344.13 15,244.44 5514.21 17,344.13 551421
Unallocated 9,001.22 16,479.55 10,130.52 9,001.22 10,130.52
Total 40,266.18 49,429.57 32,699.11 40,266.18 32,699.11

The Company was reporting its segmental information under Batteries, Electronics and unallocated segments till end of previous
financial year. To align with the application of batteries, the Batteries segment has been regrouped into Industrial batteries and Defence
& Aviation batteries. The figures of previous periods and year have been regrouped accordingly.
Except for Industrial batteries, Defence & Aviation batteries and Electronics, the segment revenue, segment results and segment assets
and liabilities of other activities are individually below the threshold limit set out in paragraph 11 of Ind AS 108. Accordingly, Industrial
batteries, Defence & Aviation batteries and Electronics segments are shown separately as reportable segments and others are included in
unallocated segment.

[b] Inter segment revenue is measured at the market price at which the products are sold to external Customers

(] Figures of the previous quarters / periods have been regrouped, wherever necessary.

By order of the Board

For HBL Power Systems Ltd

A Tlansail
Dr.A] Prasad
Place: Hyderabad Chairman & Managing Director
Date: May 27, 2024 DIN: 00057275
 L N R ASSOCIATES

() 101, ‘Seshu Villa Apartments’, Gagan Mahal,

INDIA Domalguda, Hyderabad - 500029.

Independent Auditor’s Report on Audit of the Consolidated Annual Financial Results of HBL Power
Systems Limited, pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”)

To
The Board of Directors of HBL Power Systems Limited

Opinion

We have audited the accompanying Consolidated Annual Financial Results (the "Statement") of HBL
Power Systems Limited (the "Holding Company") and its subsidiaries (the Holding Company and its
subsidiaries together referred to as "the Group"), and its share of the net profit after tax and total
comprehensive income of its associates for the year ended March 31, 2024, attached herewith, being
submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Listing
Regulations.

In our opinion and to the best of our information and according to the explanations given to us and based
on the consideration of report of other auditors on separate audited financial statements/financial
information/financial results of the subsidiaries and associates referred to in paragraph (1) of "Other
Matters" section below, the aforesaid Statement:

(a) include the annual financial results of the following entities:

Subsidiaries
1) HBL America Inc.
2) HBL Germany GmbH
3) Torquedrive Technologies Private Limited
4) TIL Electric Fuel Private Limited ©
@ Converted to a Subsidiary during the year

Associates
1) Naval Systems & Technologies Private Limited
2) Tonbo Imaging India Private Limited

(b) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this
regard; and

(c) give a true and fair view in conformity with the recognition and measurement principles laid down in
the applicable Indian Accounting Standards, and other accounting principles generally accepted in
India, of consolidated net profit and other comprehensive income and other financial information of
the Group for the year ended March 31, 2024.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section
143(10) of the Companies Act, 2013 (“Act”). Our responsibilities under those SAs are further described j

(") We are also at Visakhapatnam Page 1 of 4 [ [email protected]:

 L N R ASSOCIA TES

X 7 101, ‘Seshu Villa Apartments’, Gagan Mahal,

INDIA Domalguda, Hyderabad - 500029.

the Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results section of our
report. We are independent of the Group and its associates in accordance with the Code of Ethics issued
by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant
to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we
have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of
Ethics. We believe that the audit evidence obtained by us along with the consideration of audit report of
the other auditors referred to in paragraph (1) of the “Other Matters” section below, is sufficient and
appropriate to provide a basis for our opinion.

Management’s and Board of Directors’ Responsibilities for the Consolidated Annual Financial
Results

The accompanying Statement includes the Consolidated Annual Financial Results which have been
compiled from the related audited consolidated annual financial statements for the year ended March 31,
2024. The Holding Company’s Board of Directors are responsible for the preparation and presentation of
these Consolidated Annual Financial Results that give a true and fair view of the net profit/ loss and other
comprehensive income and other financial information of the Group including its associates in
accordance with the Indian Accounting Standards prescribed under Section 133 of the Act read with
relevant rules issued thereunder and other accounting principles generally accepted in India and in
compliance with Regulation 33 of the LODR Regulations.

The respective Board of Directors of the companies included in the Group and of its associates are
responsible for maintenance of adequate accounting records in accordance with the provisions of the Act
for safeguarding of the assets of the Group and its associates and for preventing and detecting frauds and
other irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring accuracy and completeness of the
accounting records, relevant to the preparation and presentation of the Consolidated Annual Financial
Results that give a true and fair view and are free from material misstatement, whether due to fraud or
error, which have been used for the purpose of preparation of the Consolidated Annual Financial Results
by the Directors of the Holding Company, as aforesaid.

In preparing the Consolidated Annual Financial Results, the respective Board of Directors of the
companies included in the Group and of its associates are responsible for assessing the ability of the
Group and its associatesto continueas a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the respective Board of Directors either
intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associates are
responsible for overseeing the financial reporting process of the Group and of its associates.

Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the Consolidated Annual Financial
Results as a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with SAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered material if, individually or
in the aggregate, they could reasonably be expected to influence the economic decisions of user;
on the basis of these consolidated annual financial results.

*) We are also at Visakhapatnam Page 2 of 4 info@Inrassociat!

 L N R ASSOCIA TES
b\ eda i 11l

/101, ‘Seshu Villa Apartments’, Gagan Mahal,

INDI A Domalguda, Hyderabad
- 500029.

As part of an auditin accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

1. Identify and assess the risks of material misstatement of the consolidated annual financial results,
whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk
of not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control.

2. Obtainan understanding of internal control relevantto the auditin orderto design audit procedures
that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also
responsible for expressing our opinion through a separate report on the complete set of financial
statements on whether the company has adequate internal financial controls with reference to
financial statements in place and the operating effectiveness of such controls.

3. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures in the Consolidated Annual Financial Results made by the
Management and Board of Directors.

4. Conclude on the appropriateness of the Board of Directors use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
rclated to events or conditions that may cast significant doubt on the ability of the Group and its
associates to continue as a going concern. If we conclude that a material uncertainty exists, we
are required to draw attention in our auditor’s reportto the related disclosures in the Consolidated
Annual Financial Results or, if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our auditor’s report.
However, future events or conditions may cause the Group and its associates to cease to continue
as a going concern.

5. Evaluate the overall presentation, structure and content of the Consolidated Annual Financial
Results, including the disclosures, and whether the Consolidated Annual Financial results
represent the underlying transactions and events in a manner that achieves fair presentation.

6. Obtain sufficient appropriate audit evidence regarding the financial results/financial information
of the entities within the Group and its associates to express an opinion on the Consolidated
Annual Financial Results. We are responsible for the direction, supervision and performance of the
audit of financial information of such entities included in the Consolidated Annual Financial
Results of which we are the independent auditors. For the other entities included in the Annual
Consolidated Annual Financial Results, which have been audited by other auditors, such other
auditors remain responsible for the direction, supervision and performance of the audits carried
out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard
are further described in paragraph (1) of the “Other Matters” paragraph in this audit report.

We communicate with those charged with governance of the Holding Company and such other entities
included inthe Consolidated Annual Financial Results of which we are the independent auditors regarding,
among other matters, the planned scope and timing of the audit and significant audit findings, including
any significant deficiencies in internal control that we identify during our audit. We also provide those
charged with governance with a statement that we have complied with relevant ethical requiyéfg

(") We are also at Visakhapatnam Page 3 of 4 [ info@Inrassocialgy,

 L N RASSO CIATES
larie: .

(1 101, ‘Seshu Villa Apartments’, Gagan Mahal,

INDIA Domalguda, Hyderabad - 500029.

regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8)
of the LODR Regulations, as amended, to the extent applicable.

Other Matters

1) The accompanying Statement includes the audited financial results/financial information/ financial
statements in respect of:

(a) Two subsidiaries whose audited standalone financial results/financial information/ financial
statements reflect total assets of ¥ 3,440.37 lakhs as at March 31, 2024, total revenues of ¥
9,607.02 lakhs, total net profit after tax of ¥ 528.29 lakhs, and total comprehensive income of ¥
519.61 lakhs for the year ended March 31, 2024, and net cash outflows 58.70 lakhs for the year
ended on that date, as considered in the Statements, which have been audited by their respective
independent auditors.

(b Two associates, which have not been audited by us, whose standalone financial results/financial
information/ financial statements reflect the Group’s share of net profit after tax of ¥ 1,282.42 lakhs
and total comprehensive income of ¥ 1,280.82 lakhs for the year ended March 31, 2024, as
considered in the Statements, which have been audited by their respective independent auditors.

The independent auditors’ reports on the annual audited financial results/ financial information
financial statements/ of these entities have been furnished to us by the Management and our opinion
on the Consolidated Annual Financial results, in so far as it relates to the amounts and disclosures
included in respect of these entities, is based solely
on the reportof such auditors and the procedures
performed by us as stated under Auditor’s Responsibilities for the Audit of the Consolidated Annual
Financial Results section above.

Our opinion on the Consolidated Annual Financial Results is not modified in respect of the above
matters with respect to our reliance on the work done and the reports of the other auditors.

2) The accompanying Statement include the results for the quarter ended March 31, 2024 being the
balancing figure between the audited figures in respect of the full financial year and the published
unaudited year to date figures up to the third quarter of the current financial year which were subject
to limited review by us.

For LN R Associates

Raghuram Vedula Place: Hyderabad

Partner Date: May 27, 2024
M.No. 242883
UDIN: 24242883BKGWEU9738

) We are also at Visakhapatnam Pagedof 4 [email protected]

HBL Power Systems Ltd
CIN:L40109TG1986PLCO06745
8-2-601, Road No.10
Banjara Hills HBL
Hyderabad - 500 034
Audited Consolidated Financial Results for the year ended 31st March 2024 Rs. in Lakhs
uarter endiny Year ended
SLNo| Particulars 31-Mar-24 | 31-Dec-23 | 31-Mar-23 | 31-Mar-24 | 31-Mar-23
[Unaudited] | [Unaudited] | [Unaudited] | _[Audited] [Audited]
1 |Income from operations
[a'Sales / Income from operations 6100862 | 5992594 | 4026116 | 22333556 | 136867.84
[b Other Income 653.83 527.82 50817 1,790.74 176838
Total Income 61,66245 | 60,453.76 | 40,769.33 | 22512630 | 1,38,636.22
2 |Expenditure
[a’Cost of Materials Consumed 2726749 | 3333141 | 2625358 | 1,20,83405 83,099.32
[b Purchase of Stock-in-Trade - - (366.02) 1825 107.71
¢ (Increase) / Decrease in Finished goods, - -
work in Progress and stock-in-trade 181122 | (1998.72)| (1,047.25) (5,879.20) 6366
[d Employee Benefits expense 532048 | 369923 | 293646 1576192 11,038.00
[e Finance Costs 417.42 32817 25499 129365 654.64
[f] Depreciation and Amortisation expense 1,089.56 | 1,08435 1,000.77 412567 354621
[g Other Expenses 1346013 | 1357399 | 8007.68 5025436 27,415.46
Total Expenses 49,366.30 | 50,01843 | 37,04021 | 1,86,408.70 | 1,25,925.00
3 |Profit/(Loss) before exceptional Items (1-2) 12,296.15 | 10,435.33 | 3,72912 | 38717.60 | 1271122
4 |Exceptional items - Income / (Expenditure) (2,513.61) (28393) (114.89) (2,808.25) 13326
5 |Profit/(Loss) before Tax (3+4) 978254 | 10,151.40 | 3,614.23 | 35909.35 12,844.48
6 |Tax Expense
[a Current Tax 296087 | 277436 815.58 9,823.54 3,148.09
[b Deferred Tax (Asset)/Liability 267.74 (40638) (693.92), (118.71) (11.37)
[c Income Tax relating to previous years (0.03) (61.69) (1.90) (61.10) (1.41)
7 |NetProfit/(Loss) after Tax (5-6) 6,553.96 | 784511 | 349447 | 26265.62 9,709.17
8 [Extraordinary Items (et of tax expense) - - - - -
9 |NetProfit/(Loss) for the period (7-8) 6553.96 | 7,845.11 | 3,494.47 | 2626562 9,709.17
10 [Share of Profit / (loss) of associates 1,567.01 5424 583 1,769.12 135.37
11 | Minority Interest Share of Profit/ (loss) (23.65) (4.76) 2019 (53.89), (20.74)
12 |Net Profit/(Loss) for the period (9+10-11) 8,144.62 | 790411 | 348011 | 28,088.63 9,865.28
13 |Other Comprehensive Income (Net of tax)
[i] Items that will not be reclassified to Profit or Loss -
Remeasurement of Defined Benefit Plans (155.73) (21.11) 7.54 (228.35) (98.28)
Income Tax 3920 532 (1.89) 57.48 2474
[ii] [tems that may be reclassified to profit or loss -
Exchange differences in translating the financial
statements of foreien overations 10.01 (26.93) (7.54) (868) (100.49)]
Income Tax (2.52) 6.77 1.90 218 2529
14 Total Comprehensive Income ( 11+12) 8,035.59 | 7,868.16 | 348012 | 27,911.27 9,716.54
15 Paid-up equity share capital
(Face Value Re 1/- each) 277195 277195 | 277195 277195 2,771.95
16 Reserves excluding revaluation reserves
(as per Balance sheet of previous accounting year) 1,19282.18 9237276
17 [i] Earnings Per Share (before extraordinary items)
(of Re 1/- each) (not annualised):
[a Basic 2.90 284 1.26 10.07 351
[b Diluted 2.90 284 126 10.07 351
[iil Earnings Per Share (after extraordinary items)
(ofRe 1/- each) (not annualised):
[ Basic 290 284 126 10.07 351
[b Diluted 2.90 284 126 1007 3.51
‘The above Cansolidated financial results were reviewed by the Audit Committee in its meeting held on May 27, 2024 and approved by the Board of
Directors at the meeting held on May 27, 2024. Above meetings were held through video conference.
The figures of the quarter ended March 31, 2024 are the balancing figures between the audited figures in respect of the full financial yezr and the
published year to date figures upto the third quarter of the current financial year
EPS is calculated based on total comprehensive income which s attributable to equity shareholders.
The consolidated financial statements of HBL includes the financials of Torquedrive Technologies Private Limited which is wholly owned
subsidiary and TTL Electric Fuel Private Limited which is a subsidiary with 60% shareholding in addition to the wholly owned subsidiaries viz
HBL America, HBL Germany. The Investments in Companies namely M /s Naval Systems and Technologies Private Limited (NSTL) and M/s Tonbo
Imaging India Private Limited (Tonbo) have been considered as an Investments in "Associates” and financial results have been accounted under
equity method of accounting
The subsidiaries viz. SCIL Infracon Private Limited (SCIL) and HBL Tonbo Private Limited (HTPL) have not been considered for consolidation as
SCIL has been declared as dormant Company since 2019 and HTPL made an application under Section 248 (2) of the Companies Act, 2013 was
made during FY 22-23 for striking off the name of the Company and is under process with Ministry of Corporate Affairs. There are no operations in
both the Companies.
Figures of the previous quarters / p s have been regrouped, wherever necessary.
The results shall alsn he available an wehsite of the Camnany : httn: //hhLin /investors: RSF: www hseindia.com and NSF: www.nseindia com
By order of the Board For LNR Associates
for HBL Power Systems Ltd Chartered Accountants
Firm Registration No. 05381
A‘ T Rasad
Dr.AJ Prasad
Chairman & Managing Director
DIN: 00057275
4
Raghuram Vedula
Parter
M.No: 242883
UDIN:2642.4,2.8¢ 38 K4 WEUAY28
Place: Hyderabad Place: Hyderabad
Date: May 27,2024 Date: May 27, 2024
HBL Power Systems Ltd
CIN:L40109TG1986PLC006745
8-2-601, Road No.10 HBI
Banjara Hills, Hyderabad - 500 034
Consolidated Statement of Assets & Liabilities Rs.in Lakhs
Asat Asat
SLNo. Particulars 31-Mar-24 31-Mar-23
[Audited] [Audited]
ASSETS
1 |Non Current Assets
[a] Property, Plant and Equipment 33,846.31 30,147.25
[b] Capital Works in Progress 2,039.93 2,519.96
[c] Right
of use assets 61517 71412
a1 Goodwill 166.00
[e] Intangible Assets 79627 117911
(1] Intangible Assets under development - 248894
[] Equity accounted investments 10,818.96 870.73
] Financial Assets
(i] Investments 033
[1i] Other Financial Assets 7.048.92
[i] Other Non Current Assets 27038 444
Sub-total - Non-Current Assets 55,602.27 42,201.56
2 |Current Assets
[a] Inventories 43,27188 33,624.78
[b] Financial Assets
i) Investments 258 258
[ii] Trade Receivables 3821256 31,201.34
Jiif Cash and cash equivalents 2234683 1320171
[iv] Other Bank Balances 114798 1394.64
[v] Others 159028 1,046.56
[c] Current tax assets (net) - 286,66
[d] Other Current Assets 323522 6,458.47
[e] Assets held for sale 2
Sub-total - Current Assets 1,09,807.33 87,216.74

TOTAL ASSETS 1,65,409.60 1,29,418.30

B |EQUITY AND LIABILITIES
1 |Equity
[a] Equity Share Capital 2,771.95 277195
[b] Other Equity 11928218 9237276
Sub-total - Shareholders' funds 1,22,054.13 95,144.71

2 |Non-controlling interest (68.17) -

3 |Non Current Liabilities
al Financial Liabilities
[i] Borrowings 229587 393022
fi] Lease Liability 47212 526,67
[b] Provisions 25182 22491
[c] Deferred Tax Liabilities (Net) 79605 1,008.46
fd] Other non-current iabilities - -
Sub-total - Non-Current Liabi 3815.86 5,692.26
4 |CurrentLiabilities
2] Financial Liabilities
[i] Borrowings 3,636.49 3,834.81
Jil Lease Liability 34173 308.39
liif Trade Payables
[a] Total outstanding dues
of MESE 1,492.61 1,713.12
b] Total outstanding dues to creditors other than MESE 1155658 811415
[iv) Other financial liabilities 655449 6,036.40
[b] Other Current Liabilities 8514.69 467015
[¢] Provisions 6,747.82 3,904.31
fd] Current Tax Liability (net) 76337 -
Sub-total - Current Liabilities 39,607.78 28,581.33

[ TOTAL - EQUITY AND LIABILITIES 1,65,409.60 1,29,418.30

By order of the Board For LNR Associates

For HBL Power Systems Ltd Chartered Accountants
Firm Registration No. 0538:
W
A TR W\

Dr.A] Prasad Razhedula

Chairman & Managing Director Partner
DIN: 00057275
N Siaka 983 Qg EUATLE
Place: Hyderabad Place: Hyderabad
Date: May 27, 2024 Date: May 27, 2024
 HBL Power Systems Ltd HBL.
Audited Consolidated Cash Flow Statement for the year ended March 31,2024 L
= Rs.in Lakhs
3iMarza | 31Mar23
A [Cash flow from operating activities
Netprofit before tax and exceptional items 1051062 12,867.33
Exceptional items - income / (expenditure) (2,808.25) | 13326
Other comprehensive income (net) (237.03) (198.77)
Total comprehensive income before tax [ 3749534 12,801.82
Adjustments for:
Depreciation 319872 271693
Amortisation of intangible assets 604.85 s71.08
Right of use assts 32210 258.23 |
Diminution in value of investments - 051
Profit on sale of investments |
Profit on sale of assets 10.48 (157.20)
Advances & deposits written off 17424 453
Interest income (621.73) (551.46)
Interest expense 200.09 40326
Bad debts written off (Credit impairment) - 5443
Provision for doubtiul debts (Lifetime expected credit loss) 95543 12763
Other provisions 287042 1,336.90
831460 146181
Operating profit before working capital changes 4580994 1726663
(Increase)/decrease in sundry debtors (7.966.65) (2.117.39)
(Increase)/decrease in inventories (9,647.10) (2921.44)
(Increase) / decrease in loans & advances (52.28) (357.80)
Increase/(decrease) in trade paybles 322192 1,068.39
Increase/(decrease) in currentliabilities 468648 297818
(9787.63) (1.350.05)
Cash generated from operations 3602231 1591658
Income tax paid net of refunds (8,77351) (3673.79)
Income tax adjustment relating to previous years 61.10 141
Net cash flow from operating activities (A) 27.309.90 1224420

B | Cash flow from investing activi

Purchase of fixed assets (5319.20) (6388.34)
Sale proceeds of fixed assets 76173 966.33
Purchase of Investments [
Addition of investments on account of business combination
Investment of associates/V. (9.947.96) 9999)
Sale proceeds of investments
Net outflow on account of minority interest (53.89) (074)
Interest received 62173 55146
Adjustment to Retained earnings on account of Consolidation
Net cash flow from investing activ ties (B) (13,937.59). (4,971.28).

¢ |Cash flow from financing activities

Repayment of long-term borrowings 915.39 (1,775.04)
Payment of lease liability 347.05 26183
(Increase) /decrease in working capital borrowings 91728 (97440)
(Increase)/decrease in unsecured loans < -
Dividend payment 124738 110878
Interest paid 800.09 10326
Net cash flow used in financing activities ( C ) 422719 ©5557)
D Netincrease in cash and cash equivalents (A+B-C) 914512 522649
Cash and cash equiv.at heginning of the period 1320171 497322
Cash and cash equiv. at end of the period 2231683 1320071
Cash and cash equivalents
Cash on hand 1041 461
Balances with banks 2233642 | 13,197.10
l Total 2234683 | 1320171
L
By order of the Board For LNR Associates
for HBL Power Systems Ltd Chartered Accountaiits
Firm Registration N
AT baad
Dr.A] Prasad Raghuram Vedula
Chairman & Managing Director Partner
DIN : 00057275 :242883
2424289384 WE VA IE
Place: Hyderabad Place: Hyderabad
Date: May 27, 2024 Date: May 27, 2024
 HBL Power Systems Ltd
CIN:L40109TG1985PLC0O0AT745 “BL
Audited Consolidated Segment-wise Revenue, Results and Capital Employed
For the year ended March 31, 2024 . Rs.in Lakhs
[ ~Quarter ending Year ended
31-Mar-24. 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23
- [Unaudited] | [Unaudited] | [Unaudited] | [Audited]| _[Audited]
Segment Revenue
Industrial Batteries 36,498.44 37,482.75 29,821.10 1,42,279.18 1,01,748.69
Defence & Aviation Batteries 6,307.67 5,859.12 3,685.08 17,961.17 18,320.98
Electronics 16,808.43 15,068.76 5,503.44 54,066.96 13,550.74
Unallocated 1,860.03 1,576.84 1,400.22 9,813.49 4,005.79
Total 6147457 | 59,987.47 40,409.84 | 2,24,120.80 | 1,37,626.20
Less: Intersegment Revenue 465.95 61.53 148.68 785.24 758.36
Sales/Income from Operations 61,008.62 59,925.94 40,261.16 | 2,23335.56 | 1,36,867.84 |
Segment Results
Industrial Batteries 5,948.93 701470 2,609.47 25,948.30 10,593.87
Defence & Aviation Batferies 3,929.31 | 2,545.89 1,043.36 8,162.49 5,285.80
Electronics 4,014.57 2,209.13 306.53 9,181.82 95.72
Unallocated 35923 (388.82) (283.05) 553.70 (965.54)
Total 14,252.04 11,380.90 3,676.31 43,846.31 15,009.85
Less: [i] Interest (417.42) (328.17) (254.99) (1,293.65) (654.64)
[ii] Exceptional Items-income/(Expense) (2,513.61) (283.93) (114.89) (2,808.25) 13326
[iii] Other Un-allocable Expenditure net off (2,192.30) (1,145.22) (200.37) (5,625.80) (3412.37)
[iv] Un-allocable Income 65383 527.82 508.17 1,790.74 1,768.38
Total Profit Before Tax after Extraordinary
9,782.54 10,151.40 3,614.23 35,909.35 12,844.48
Items i
Segment Assets
Industrial Batteries 68,411.70 70,512.27 54,603.22 68,411.70 54,603.22
Defence & Aviation Batteries 19,255.08 16,475.22 14,065.94 19,255.08 14,065.94
Electronics 30,167.13 41,389.30 30,265.05 30,167.13 30,265.05
Unallocated 47,575.69 37,499.17 30,197.43 47,575.69| 30,19743
1,65409.60 | §,65875.96 | 1,29,131.64 | 1,65409.60 | 129,131.64 |
Segment Liabilities
Industrial Batteries 10,736.56 14,154.23 15,283.62 10,736.56 15,283.62
Defence & Aviation Batteries 3,330.08 3,459.56 1,765.33 3,330.08 176533
Electronics 17,344.13 15,244.44 5514.21 1734413 5514.21
Unallocated 10,453.45 17,456.65 10,701.97 10,453.45 10,701.97
Total 41,864.22 50,354.88 33,265.13 41,864.22 33,265.13 |

[a] The Company was reporting its segmental information under Batteries, Electronics and unallocated segments till end of previous financial
year. To align with the application of batteries, the Batteries segment has been regrouped into Industrial batteries and Defence & Aviation
batteries. The figures of previous periods and year have been regrouped accordingly.
Except for Industrial batteries, Defence & Aviation batteries and Electronics, the segment revenue, segment results and segment assets and
liabilities of other activities are individually below the threshold limit set out in paragraph 11 of Ind AS 108. Accordingly, Industrial
batteries, Defence & Aviation batteries and Electronics segments are shown separately as reportable segments and others are included in
unallocated segment.
[b] Inter segment revenue is measured at the market price at which the products are sold to external Customers,

[c] Figures of the previous quarters / periods have been regrouped, wherever necessary.

By order of the Board

‘For HBL Power Systems Ltd

A Reazad
Dr. AJ Prasad
Place: Hyderabad Chairman & Managing Director
Date: May 27,2024 DIN: 00057275