Tl[ timited

CIN : L74SSgWB

l9i4Ptc04l i25

Rs0istercd oflics:
l, Tarstolla Boad, Grrden Resch
(olkat6-i00 024
: 6633-20tr. 6633.2845

Ph
hr

:216$3731i214ii
Wohits : www.iilindia.in

May 27,201.6

The Secretary
The Calcutta Stock Exchange Association Ltd.,

FAX NO. 4025-3030/3038

7, Lyons Range,
Kolkata 700 001.

Bombay Stock Exchange Limited

Departrnent of Corporate Affairs
P.J. Towerg
Dalal Street, For! Ground Floor,
Mumbai 400001.

AX NO.22-2272-3121. /

National Stock Exchange of India Ltd.,

Membership Department
Exchange Plaza, C-1, Block - G,
Bandra Kurla Complex, Bandra (E),
Mumbai 400 051.

2039 / 2M1.

2061. / 7979

FAX NO. 22-2659-8237 / 823,8

Dear Sirs,

Re: Audited Financial

Results of TIL Limited ('the Companv'l for the fourth quarter and
financial vear ended on 31"t March, 2015

Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2075, we are enclosing herewith the Audited Financial Results of the Company
together with the Statutory Auditor's Report (both Standalone & Consolidated) for the fourth
quarter and financial year ended 31,t March, 2016 as approved by the Board of Directors of the
Company at its Meeting held today, the 27t' M ay, 201.6 along with Form-A for your kind perusal
and records.

Thankini you
Yours faithfully,

SEK

ACHARJEE

ANY SECRETARY
Encl. As above

P.0. 8ox 323, Koiklra 700 001

TIL LIMITED
CIN : 174999W81974P1C041

725

Reqd.Orfice: 'l,Tamtolla Road, Garden Reach, Kolkata - 700024

Phone : +91 33 6633 2000 / 2845. Fax : +91 33 2469 2143 / 3731
WebsiG : www.tilindia.in

in Lacs

STATEMENT OF STANDALONE AUDITED RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2016
3 Months Ended

3lstMarch

2015

(Unaudited)
ncomo tuom oporations
a) Not Sales / lncome from Operations (NetofExcise Outy)
b) Othor Opsrating lncome
Total lncome trom Operauons (Nel)

12,437

144
12,581

6,230
162
6,392

10,789
70
10,859

30,828
470
31,298

31,803
376
32,179

3,205
534
(487)
1,114
308
1,224
5,910
442

4,205

16,647

15,531

1,012

2,OU
2,791
5,112

1,049

a)
b)
c)
d)

Cost of Matenab Cdnsumed

Purchase of Stock-in"T.ade
Changes in lnventories of Finished goods, Wod(-in-Progress and Stock-in-Trade
Employee B.nefi ts Expense
Depreciation and Amonjsation Expsnse

0
3 Profit / (Loss) from oporatioG before Olher lncome, Finance Costs and Exceptional ltoms (1-2)

Profit / (LosE) trom ordinary activities before Finance Costs and Exceptjonal ltems (3+4)
6
7 Profit / (Loss) from ordinary activitios aftor Finance Costs but before Exceptional lt.m6 (5-6)
8
Profit (Loss) from Ord inary Activities b.tore tax ( 7+6)
10
'11 Net Profit / (Loss) from Ordinary Activities after Tax (9-10)
12 Enraordinary ltem (n.l of tax expenses)
Net Profit / (Loss) Ior the period 11'l -12)

Paid-up Equity Share Capital

(Face Varue of< r0l each)
15 Rsse.ve6 Excluding Rsvaluation RessNe
16 Eaminss per share (EPS) (i) [NotAnnualisedl
a)

Basic

7,126
618

2,494

1,$a
274
1,818
14,152
(1,57r)
54

1,3E3

444
1,s17
9,177
1,642

(1,5171
1,336

495

242
1,924

't,024

1,055

(2,853)

(:'?e)

859

(2,853)

(52e)
(4)

3t

13

(2,884)
(2,884)
1,003

'ltn

(s2s)
1,003

e4.75)

(5.23)

t2a 75!,

l5_231

1,300

33,617
{2,319)

2,017
5,721
1,760
5,142
31,220
959

189
1,241

{2,130)
4,472
(6,602)

4,142
(2,901)

069
(71)

(6,602)

(2,901)

9/ro

(6,629)

|.2,862)

940

(6,629)

(2,862)

1,003

1,003

1,003

9.37

27

(39)

15,971

22,608

(66.09)

(28.53)
I2A 531

!.qIES-:

1)

A!:.9E-e!.4ie!i!!!9s

EQUI I Y ANU LIAtsILII IES

SHAREHOLOERS' FUNDS :
(a) Share Capital
(b) Resetues and Surplus
NON" CURRENT LIABILITIES
(a) Lons Term Bonowinss
(b) Deieffed Tax Liabililies (Net)
(c) Lons-Ienn Provislons
CURRENT LIABILITIES

(a) Shod'Ierm Bonownss

1,00:

1,003

16,624

23,252

2,614

5,03'

291

840
491

26,007
9,191

19,392
6,629
6,277

65,691

63,015

'19,524
7',!

16,642
138

8,97:

(c)

Other Curenl Liabrlilies

(d) Short Tenn Provisions

ASSEIS
NON. CURRENT ASSETS

(ii) lnlangible Assets

(i i) Capital Wolk-ln-Pogress
(b) Non-Curenl lnvestment
(c) Long-Tem Loans and Advan@s
(d) Oiher Non-Cunent !6sets

CURRENTASSETS
(a) Cuneni lnveshent

(d) Cash and Cash Equivalenls

(e) Short-Tem Loans and Advan@s
(0 Other Cunenl Assels

reviewed by the Audit Committee and approved bythe Board of Dnecto6 attheirmeeting held on 27th lulay,2016 at Kolkata.

Accounting standard.l7 on segment R.porting" hence itrfomation pertaining to segment is not applicable fo. the com pany,
i) Sale orsharcs in wholly owned subsidiary Tractors ln.lia Private Limited (TIPL) [Book valus Rs.9,5E5 lacs as on 31st March, 2016] for a consideration of Rs. 35,000lacs.
ii) Sale ofshares at the book value, in the wholly owned subsidiary Tractors Nepal Private Limited (TNPL) IBook value of Rs. 75 lacs as on 31st i,larch,20161;

iii) Sale ofspecified assets and liabilities pertaining to the Caterpillar Deale6hip Business standing in the books of TIL Ove6eas Pte. Limited (TILO).

on or before 30lh June, 2016, failing which the agreement shall come to an end and both the parties shall be relieved oftheir mutual obligations.
The sharoholdeE of the company has approved the proposed sale throuEh postal ballot resulG ofwhich were declared on 25th Ntay,2016.
GI\,IPL.

th.

unaudited published year to date ligures upto the third quarter of the respective financialyears, which wore subjected to limited review by tho

The Board of Dnecto6 have rccommended a dividend

of( Nil(Nil%)

on each equity share tor lhe yoar 15-'16.

Previous yeais / periods figures have been rearranged / regrouped wherever necessary, to conform to thoseofthe currentyear/ period.

Kolkata 700 024.

27th iray,20i6

4,330
9,982
1,381

42

9,66C

(c) Trade ReceivabLes

year and

22C
322
'1,262

statutor auditors,

'17,424

18,864

13,653

8,993

'142

107

2,93C

2,537

65,691

63,015

Deloitte
Haskins & Sells

Chartered Accountants
Benga Intelligent Park
Euilding Aipha, lst Floor
Elock EP 5 Ge Sector - V
Salt Lake Elecronics Complex
Kolkata - 7oo 091
lndia

Tel :+91 (33)6612 1000

Far : +91 (33) 6612 l00l

INDEPENDENT AUDITOR'S REPORT

TO THE BOARD OF DIRECTORS OF

TIL LIMITED
l. We have audited the accompanying

Statement of Standalone Financial Results of TIL Limited

("the Company") for the year ended 3[ March 2016 ("the Statement"), being submitted by the
Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015. This Statement, which is the responsibility of the
Company's Management and approved by the Board of Directors, has been prepared on the basis
of the related financial statements which is in accordance with the Accounting Standards
prescribed under Section t33 of the Companies Act,2013, as applicable and other accounting
principles generally accepted in India. Our responsibility is to express an opinion on the Statement.

We conducted our audit in accordance with the Standards on Auditing issued by the Institute of
Chartered Accountants oflndia. Those Standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonabte assurance about whether the Statement is free
from material misstatement. An audit involves performing procedures to obtain audit evidence
about the amounts and the disclosures in the Statement. The procedures selected depend on the
auditor's judgment, including the assessment of the risks of material misstatement of the
Statement, whether due to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the Company's preparation and fair presentation of the Statement in
order to design audit procedures that are appropriate in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness of the Company's internal control. An audit also
includes evaluating the appropriateness of the accounting policies used and the reasonableness of
the accounting estimates made by the Management, as well as evaluating the overall presentation
ofthe Statement. We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis lor our audit opinion.

J.

In our opinion and to the best ofour information and according to the explanations given to us, the
Statement is presented in accordance with the requirements ofRegulation 33 ofthe SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015; and gives a true and fair view in
conformity with the aforesaid Accounting Standards and other accounting principles generally
accepted in India, ofthe net [oss and other financial information ofthe Company for the year ended
3l March 2016.

Deloltte
Hasklns&Sells

4.

The Statement includes the results for the Quarter ended 3 I March 20 16 being the balancing figure
between audited figures in respect ofthe full financial year and the published year to date figures
up to the third quarter of the current financial year which were subjected to limited review by us.

FoT

DELOITTE HASKINS & SELLS

Chartered Accountants

A.

Bhattacharya
Partner
(Membership No. 0541 l0)

Kolkata, 27b May,2016

TIL LlMITED

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Deloitte
Haskins & Sells

Chadered Accountants
Bengal lntelligent Park
Burlding Alpha, 1st Floor

Block EP 6 GP, se.tor - V

salt Lake Electronics complex
Kolkata - 7oo o9l
lndia
Tel. : +91 (33) 6612 1000
Fax : +91 (33)6612 1001

INDEPENDENT AUDITOR'S REPORT

TO THE BOARD OF DIRECTORS OF

TIL LIMITED

l.

We have audited the accompanying Statement of Consolidated Financial Results of TIL

LIMITED ("the Holding Company") and its subsidiaries (the Holding Company and its
subsidiaries together referred to as "the Group") for the year ended 3l March 2016 ("the
Statement"), being submitted by the Holding Company pursuant to the requirement of
Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015. This Statement, which is the responsibility of the Holding Company's Management
and approved by the Board of Directors, has been prepared on the basis of the related
consolidated financial statements which is in accordance with the Accounting Standards,
prescribed under Section 133 of the Companies Act, 2013, as applicable, and other
accounting principles generally accepted in India. Our responsibility is to express an
opinion on the Statement.

2.

We conducted our audit in accordance with the Standards on Auditing issued by the
Institute of Chartered Accountants oflndia. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain reasonable assurance about
whether the Statement is free from material misstatement. An audit involves performing
procedures to obtain audit evidence about the amounts and the disclosures in the Statement.
The procedures selected depend on the auditor's j udgment, including the assessment ofthe
risks of material misstatement of the Statement, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the Holding
Company's preparation and fair presentation of the Statement in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose ofexpressing
an opinion on the effectiveness ofthe Holding Company's internal control. An audit also
includes evaluating the appropriateness of the accounting policies used and the
reasonableness ofthe accounting estimates made by the Management, as well as evaluating
the overall presentation of the Statement. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our audit opinion.

3.

We did not audit the financial statements of 2 subsidiaries included in the consolidated
financial results, whose financial statements reflect total assets of Rs. 16,81 8 lakhs as at 3 I
March 2016 , total revenues of Rs.2,45 I lakhs for the year ended 3 I March 2016, and total
loss after tax of Rs.541 lakhs for the year ended 3l March 2016, as considered in the
consolidated financial results. These financial statements have been audited by other
auditors whose reports have been furnished to us by the Management and our opinion on
the Statement, in so far as it relates to the amounts and disclosures included in respect of
these subsidiaries is based solely on the reports of the other auditors.

Deloitte
Haskins &Sells

4.

In our opinion and to the best ofour information and according to the explanations given
to us, and based on the consideration of the reports of the other auditors referred to in
paragraph 3 above, the Statement:

5.

a.

includes the results ofTIL Limited and the following subsidiaries: Tractors India
Private Limited, Tractors Nepal Private Limited and TIL Overseas Pte Ltd;

b.

is presented in accordance with the requirements ofSEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015; and

c.

gives a true and fair view in conformity with the aforesaid Accounting Standards
and other accounting principles generally accepted in India ofthe consolidated net
loss and other financial information ofthe Group for the year ended 3l March 2016.

The Statement includes the results for the Quarter ended 3l March 2016 being the
balancing figures between audited figures in respect of the full financial year and the
published year to date figures up to the third quarter ofthe current financial year which
were subject to limited review by us.

DELOITTE HASKINS & SELLS

Chartered Accountants
(Firm's Registration Nq. 3020Q9E)

FoT

#{s
Kolkata,27thMay,20l6

k9"9

A Bhatthcharya
Partner
(Membership No. 0541 10)

FORMA

2.

4.
5.

Name of the Company

TIL Limited

Annual financial statements lor the year ended

March 31, 2016

Type of Audit observation

Un-Modified

Frequency of observation

Not Applicable

To be signed by-

CEO/Managing Director

CFO

Aloke Banerjee

Vn"r* l-C
Audit Committee Chairman

Auditor of the Company

In terms of our reporl attached on the standalone

financial statements of the Company
For DELOITTE HASKINS & SELLS
Chartered Accountants
(Firm Registration No. 302009E)

(Partner)

(Membership No. 0541 l0)

Kolkata

Veena Hingarh