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Kennametal India Ltd
CIN: L27109KA1964PLC001546
8/9th Mile, Tumkur Road, Bangalore 560073, INDIA
www.kennametal.com
Ref:Sec/Sto/2019/05/03
Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400001
14th May 2019 Dear Sirs, Subject : Outcome of the Board Meeting - Kennametal India Limited, Scrip Code: 505890 Reference: Our letters dated April 3rd, 2019 (letter No. Sec/Sto/2019/05/01) & 14th May 2019
(letter No. Sec/Sto/2019/04/02) informing you about the scheduled Board Meeting of the Company to be held on May 14, 2019
Disclosure under Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
__________________________________________________________________________ In further to the above referred letters, we write to inform you that at the meeting of the Board of Directors held today (May 14, 2019), the Board, inter alia, has-
1. approved the un-audited financial results of the Company for the third quarter and nine months period ended March 31, 2019. The said results, in the prescribed format, are being enclosed hereto;
2. declared and approved the payment of interim dividend of ₹ 2/- per equity share of ₹ 10/- each
[20% on the paid-up capital of the Company] for the financial year 2018-19;
3. fixed the Record date as Monday, May 27, 2019 for the purpose of payment of Interim Dividend.
The payment of dividend to the eligible shareholders will be made on or after May 30, 2019;
4. recommended the re-appointment of Mr. B Anjani Kumar and Mr. Vinayak K Deshpande as Independent Directors, to the Shareholders for approval, for a second term of 5 years each, effective November 4, 2019;
5. approved the Notice together with the Explanatory Statement and Postal Ballot Form to be sent to the members of the Company for the purpose of re-appointing Mr. Bidadi Anjani Kumar & Mr. Vinayak K Deshpande, Independent Directors of the Company for a second term of five years each by passing requisite resolutions as ‘Special Resolutions’;
2
6. appointed Mr. Vijayakrishna K. T., practicing Company Secretary, as the scrutinizer (“Scrutinizer”) for conducting the Postal Ballot / e-voting process in a fair and transparent manner;
7. appointed Mr. Vijayakrishna K. T., practicing Company Secretary as Secretarial Auditor of the Company to conduct Secretarial Audit for the Financial year ending June 30, 2019;
Kindly take the same on record and oblige. Thanking you, Yours faithfully, For Kennametal India Limited Naveen Chandra P General Manager – Legal & Company Secretary Encl: As above
NAVEEN CHANDRA PRAKASH
Digitally signed by NAVEEN CHANDRA PRAKASH Date: 2019.05.14 19:14:05 +05'30'
Walker Chiandiok &Co LLP
Walker Chandiok 8‘ Co LLP
51h Floor, No. 65/2, Block "A",
Bagmane Tridib. Bagmane Tech Park
C V Raman Nagar, Bengaluru 560093
India
T +91 80 4243 0700
F +9180 41261228
Independent Auditor’s Review Report on Quarterly Financial Results and Year to Date Results of the Company
Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015
To the Board of Directors ofKennametal India Limited
1. We have reviewed the accompanying statement of unaudited financial results (‘Statement’) of Kennametal India
Limited (‘the Company’) for the quarter ended 31 March 2019 and the year to date results for the period 1July 2018
to 31 March 2019, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015. This Statement is the responsibility of the
Company’s Management and has been approved by the Board of Directors. Our responsibility is to issue a report
on the Statement based on our review.
2. \Ve conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, Review of Interim
Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered
Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as
to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company
personnel and analytical procedures, applied to financial data and thus provides less assurance than an audit. \‘Ve
have not performed an audit and accordingly, we do not express an audit opinion.
3. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the
accompanying Statement prepared in accordance with applicable Indian Accounting Standards specified under
Section 133 of the Companies Act, 2013 and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015
and CIR/CFD/FAC/62/2016 dated 5 July 2016, and other recognised accounting practices and policies has not
disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be
disclosed, or that it contains any material misstatement.
For Walker Chandiok & Co LLP
Chartered Accountants
Firm Registration No: 001076N/N500013
Partner
Membership No. 059139
Bengaluru14 May 2019
Chartered AccountanlsWalker Chandiok 51 Co LLP is regisleled with limited itabllily
wilh idenflflcahun number M02085 and HS regislered
Olfices m Bengaium, Chandigam, Chennai, Gumgram. Hyderabad, Kochi. Kulkala, Mumbai, New Deli“, Nuida and Pune alfice at L41 Connaughl Circus. New Deim, 110001, India
KennametalIndiaLim'ted
CIN:L27I
D9KAI964PLCO0I546
RegdOffice:
8I9thMile,TumkurRoad.Bangalore
-
560
KKENNAMETAI:
Website:www.kennametal.camIhilabaut—uslkil-financials.html,Ema
Tel:+9l
080
2339432l,Fax:+9I
080
28397572
Statementof
unauditedfinancialresultsfor
the
quarterand
ninemonthsendedMarch3|,
20l9(All
amountsin
?
millionsunlessotherw
e
stated)
SI.
Particulars
Quarterended
Ninemonthsended
Yearended
March3|,20I9
December3
I,
ZOI8
March3l,ZDI8
March31,20|9
March:l,20l8
June30,
ZOIB
(unaudited)
(Unaudited)
(Unau
ed)
(Unaudited)
(Unaudited)
(Audited)
VI VII VIII XI
INCOME Revenuelromoperations(reler
note
3)
Otherincome
Totalincome
EXPENSES Cost0!
materialsconsumed
Purchaseof
stock-in-(mdeChanges
nventoriesof
r.
hed
goods.work-inapragrasand
stock-in-trade
Employeebenefits
expense
Depreciationand
amortisationexpense
Financecosts
Otherexpenses
Totalexpenses
Profitbeforeexceptionalitemsandtax
(l-Il)
Exceptionalitems(refer
note4)
Profitbeforetax
(III-IV)
Tax
expenseCurrent(ax
Tax
adjustmentsrelatingto
earl
.-
years
Deferredtax
charge
Totaltax
expense
Net
profitfor
the
pe
dlyear(V-Vl)
Othercomprehensiveincome,net
oiineometax
(i)
itemsthatwill
notbe
reclassifiedto
prolitor
loss
Incometax
relatingto
itemsthatw
not
be
reclass
ed
to
profitor
loss
)
ltemsthatwbe
reclassifiedto
profitor
loss
Totalother
comprehensiveincome,netoi
in<ometax
Totalcomprehensiveincomefor
the
period/year(VII+VIII)
PaId-upof
equitysharecapital
(FaceValueof
a
lo
per
share)
Earningsper
share
[FaceValueof
e
lo
per
share(not
annualised)]
_
Basic(e)
.
D
luted
(z)
2,346
2,33729
l
,980|
4
6,95l87
5,64966
7,93|
84
2,390 839 466 <43) 379 70 43|
2,366 am 549 (l42) 326
[.994 652 55
|
(204) 283 64 382
7,038 2,460 1,555 (42l) |.016 ZIOl
253
5,7ls
8,0l5 2,384 2,072 (272)|
.227 7.8
|
|.5|6
2,l44 Z46
l,72l3 266
6,076 962
7,208 307 (77)
246
166
962
730
|07
95(I
5)so
70 33
BIG (”5) 73
204 (46) 49
I09
40
“33
274
I90
207
l37
307
l63
688
326
523
(Z)
(47) |6
(47) ls
(31)
(I)
(3')
(3')
(1')
[36
I32
295
502
220
\\ist
6.25 615
[3.97 l3.97
220 7.42 7.42
3|.32 3|.32
220|
4.82 14.82
220 2378 23,78
KennametalIndiaLimited
CIN:L27I09KAI964PLCOO|546
t
KKENNAMETAL
RegdOffice:
8I9thMile,TumkurRoad,Bangalore
-
560
073
Website:www.kennametal.comlhi/about—uslk
mancialshtml,Em
+9l
080
2839432l,Fax:
+9l
080
28397572
Reportingof
segmentwise
revenue,results,segmentassetsand
liabllltiesfor
the
quarterand
ninemonthsendedMarch3
I,
20|9
(All
amountsin
?
millionsunless
otherwisestated)
Quarterended
Ninemonthsended
Yearended
Sl.
No.
Particulars
March3l,20l9
December3|,
20l8
March3l,20|8
March3l,20l9
March3l,20l8
june30,
20l8
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Audited)
l
Se
mentRevenue
Revenuefromo
erations
refernote
3
Machiningsolutions
379
288
256
97|
7|4
[.967
2,049
l,724
5,980
4,935
2,346
2,337
L980
6,95l
5,649
|,222 6,709 7,93l
Hard
metaland
hard
metalproducts
Revenuefromoperations
2
SegmentResults
MachiningSolutions
I4
57
3|
I30
47
[25
Hardmetaland
hard
metalproducts
276
353
264
|,006
69|
920
Total
290
4
I
0
295
l,l36
738
l,045
Add
/
(Less):
Otherunallocableincome
37
|
l
Otherunallocableexpenditure
(81)
(74)
(32)
(231)
(l86)
(302)
Bteptionalitems
-
—
-
-
(47)
(77)
Totalprofitbeforetax
246
347
266
962
5
I
6
730
3
SegmentAssets
Machiningsolutions
963
892
578
963
578
629
5,094
4,829
3.937
5,094
3.937
4,079
l,227
|,|lO
l,3|3
[.227
|.3l3
1,505
Hard
metaland
hard
metalproducts
Otherunallocable
assets
Totalassets
7,284
6,83I
5,829
7,284
5,828
6,213
Se
mentLiabilities
Mac
g
solutions
624
528
425
624
425
477
Hard
metaland
hard
metalproduct:
W
L380
|,2|2
[.039
[.380
|,039
l,l5|
\
206
|54
[32
206
I32
I98
Otherunallocableliab
Totalliabilities
2,2l0
L894
l,596
2,2I0
l,596
I,826
KKENNAMETAL Kennametal India Limited
CIN: L27109KAl964FLC00l546
Regd Office: 8I9th Mile, Tumltul- Road, Bangalore - 560 073
Website: wwwsltennametalccorn/hilaboutruslkil-financials.html, Email: [email protected]
Tel: +91 080 28394EZI, Fax: +9| 080 28397572
Notes to the unaudited financial results for the quarter and nine months ended March 3|, 20l9
in terms oi Regulation 32 of SEBl (Listing Obligations and Disclosure Requirements) Regulations ZDIS. the aioresaid statement oi unaudited financlai results ("financial results") for the
quarter and nine months ended March 3l. 20l9 oi the Company have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on
May I4, 10l9. The Statumry Auditors have carried out limited review of the above financial resuls.
N These financial results have been prepared in accordance with the recognition and measurements principles laid down in ind AS 34 "interim Financial Reporting" prescribed under
Section l33 ol the Companies Act 20l3 read with relevant rules issued thereunder and the other accounting principles generally accepted in India and in terms oi Regulation 33 oi the
sail (Listing Obligations and Disclosure Requiremenu) Regulations. 20l5 and SEBI circular ClR/CFD/FAC/ozlzolo dated luly 5, mid.
Lu As mandated by notification issued by Ministry oi Corporate aiiairs (MCA) under Companies (Indian Accounting Standards) (Amendments) Rule ZOlBr eiiective July cl. 20l8 the
Company has adopted lnd As I IS "Revenue irom Contracts with Customers". using the modified retrospective approach. The provisions oi the new smndard require a recognition of
revenue at transaction price net of variable conSlderation which were Earlier accounted as an expense. The standard is applied retrospectively only to contracts that are not
completed as at the date oi initial application and comparative iniormation is not restated in the statement oi financial results ior the current period. Based on the assessment done by
the Company, there is no material impaCt on the financial results for the period.
.L Exceptional items debited to the statement oi financial results comprises oi: (All amounts in ? millions unless otherwise stated)
Quarter ended Nine months ended Year ended
ParticularsMarch 11,20” December Jl,2nla March Jl.1ols March Jl. 1M9 March Jl.10la june 30, 1018
The company had announced a voluntary retirement scheme -7
~-
a 30
(VRS) ior ie workmen. Several workmen opted ior the VRS
and the aggregate expenditure incurred in this regard has
been iully charged to the statement oi profit and loss in
accordance With lnd As , l9 “Employee aeneno".
The company also had a severance l separation scheme ior ae
a— 47 47
certain employees and the aggregate compensation paid in
accordance With the 52nd scheme had been iully charged to
the statement of profit and loss
Ln During the quarter. the Company has recognized an additional cost oi lNR 4B.l7 million as a result oia change in the leave encashment policy ior certain employees.
trs The above nnancial results oi the company are available on the Company's website and also on the website oi BSE (www.bselndia.ccm) where the shares oi the Company are listed.
\I During the previous quarter. the Company had set up a new wholly owned subsidiary Widia lndia Tooling Private Limited (WlTPL). the operations oi WlTFL has commenced ii-om
April ol, 20l9. WITPL is in the business oi trading oi hard metal and hard metal products under the brand "WIDlA". Pursuant to Regulation 33 of the SEBI (Listing obligations and
Disclosure Requiremeno) Regulations, ZOlS. the Company has availed the option not to submit the consolidated financial statements which has been intimated to BSE Limited vide
letter dated May 05. 20 | 9.
For and on behalf of the Board of Directors of
Kennameml India Limited
Bengaluru Bhagya Chandra Rao
May I4. 20 | 9 Managing Director
