August 10, 2023

To,
Listing Department
National Stock Exchange of India Limited
Exchange Plaza, Plot No. C/1, G - Block,
Bandra Kurla Complex,
Bandra (East),
Mumbai - 400 051

Dear Sir/Madam,

Symbol: TIRUPATIFL

Sub: Outcome of Board Meeting held on August 10, 2023.

Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, please be informed that Board of Directors at its
Meeting held today i.e. Thursday, August 10, 2023 at 4.00 P.M. at the Registered Office of
the company, inter-alia has considered and approved the Unaudited Standalone Financial
Results along with Limited Review Report by the Auditor thereon for the Quarter ended on
June 30, 2023

The Meeting of the Board of Directors of the Company commenced at 04.00 P.M. and
concluded at 04:55 P.M.

Kindly take the same on your record and oblige.

Yours Faithfully,

For, Tirupati Forge Limited

Digitally signed by
Moliya Vivek Moliya Vivek
Manishbhai
Manishbhai Date: 2023.08.10
17:07:33 +05'30'

Vivek M. Moliya
Company Secretary & Compliance Officer

Encl/-:

1. Auditor’s Limited Review Report pursuant to the regulation 33 of the SEBI (Listing
Obligation and Disclosure Requirements), Regulations, 2015.

2. Statement of Unaudited Standalone Financial Result for the Quarter ended on

June 30, 2023.
KamleshRathod& Associates (OA)
Chartered Accountants ke

Independent Auditor's Limited Review Report on the Quarterly Unaudited

Standalone Financial Results ended 30t June, 2023 of the Company
Pursuant to Regulation 33and Regulation 52(4) read with Regulation 63 of
Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended

Limited Review Report to,

The Board of Directors,
Tirupati Forge Limited

1. We have reviewed the accompanying statement of unaudited financial results of

Tirupati Forge Limited (hereinafter referred to as “the Company”) for the quarter
ended on 30th June, 2023 (“the statement”).

2. This statement is the responsibility of the Company's management and has been
approved by the Board of Directors at their meeting, has been prepared in accordance
with the recognition and measurement principles laid down in the Indian Accounting
Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section
133 of the Companies Act, 2013(‘the act’) read with relevant rules issued thereunder
and other accounting principles generally accepted in India. Our responsibility is to
issue a report on the statement based on our review.

3. We conducted our review in accordance with the Standard on Review Engagement

(SRE) 2410, “Engagements to Review of Interim Financial Information Performed by
the Independent Auditor of the Entity’ issued by the Institute of Chartered
Accountants of India. A review of interim financialinformation
consists of making
inquiries, primarily of persons responsible for financial and accountingmatters, and
applying analytical and other review procedures. A review is substantially less in
scopethan an audit conducted in accordance with Standards on Auditing and
consequently does not enable us to obtain assurance that we would become aware of
all significant matters that might be identified in an audit. Accordingly, we do not

Page 1 of 2
UDIN: 23131261BGUTGZ6818
KamleshRathod& Associates OX
Chartered Accountants % )

4. Based on our review conducted as above, nothing has come to our attention that
causes us to believe that the accompanying Statement of accordance with the Indian
Accounting Standards (‘Ind AS') specified under Section 133 of the Companies Act,
2013, read with relevant rules issued thereunder and other recognized accounting
practice and policiesgenerally accepted in India, and has not disclosed the
information required to be disclosed in terms of Regulation 33and Regulation 52(4)
read with Regulation 63 of the SEBI(Listing Obligation Disclosure Requirement)
Regulations, 2015, including the manner in which it is to be disclosed, or that it
contains any material misstatement.

5. We draw your attention to the following matters:

We were neither engaged to review, nor have we reviewed the comparative figures for
the quarterended on 30% June, 2022 and accordingly, we do not express any
conclusion on the results in the statement for the quarter ended on 30 June, 2022
as set out in the note 5 to the statement, these figures have been furnished by the
management of the company. Our conclusion is not modified in respect of these
matters

For, Kamlesh Rathod & Associates

Chartered Accountants
Firm Registra

Membership No.: 13 i
Signed at Jamnagar on 10th August, 2023

Page 2 of 2
UDIN: 23131261BGUTGZ6818
 Tirupati Forge Limited
Plot No. 1-5, Survey No. 92/1, Near Shan cement, Hadamtala Industrial area,
Kotda Sangani, Hadamtala, Rajkot, Gujarat- 360311
CIN L27320GJ2012PLC07 1594
Website: www.tirupatiforge.com E-Mail: [email protected]
Statement of Unaudited Ind AS Financial Results for the Quarter ended on 30th June, 2023
(Amt. in Lacs)
Sr. Quarter Ended Year Ended
No. 30.06.2023 |} 31.03.2023 | 30.06.2022 | 31.03.2023
Particulars (Unaudited) | (Audited) | (Unaudited) | (Audited)
i 1 e . «

1 INCOME
a}Revenue from operations 2,088.20 2,339.03 2,532.68 9,202.98
b]| Other Income 11.37 32.52 70.12 180.89
TOTAL INCOME 2,099.57 2,371.55 2,602.80 9,383.87

2 EXPENSES .
a|Cost of materials consumed 1,086.64 1,248.92 1,369.98 4,760.16
b|Purchase of Stock in trade 90.76 73.65 16.66 151.76
c|Changes in inventories of finished goods, 129.85 62.31 (35.26) 248.19
work-in-progress and Scrap

d|Employee benefits expenses 95.65 108.58 106.48 931.58

e|Finance Costs 26.97 22.22 30.08 107.27
f|Depreciation and Amortisation expenses 70.47 77.92 64.42 270.77

g|Other expenses 445.50 492.42 638.22 2,151.43

TOTAL EXPENSES 1,945.84 2,086.02 2,190.58 8,121.16

3 Profit before exceptional item & tax 153.73 285.53 412.22 1,262.71
4 Exceptional item - - - -
5 Profit before tax 153.73 285.53 412.22 1,262.71
6 Tax expenses
1. Income Tax Expense 44.37 70.73 111.17 334.22
2. Deferred tax Expense (4.43) 0.73 (6.99) (14.37)
7 Net Profit/(Loss) for the period 113.79 214.07 308.04 942.86
8 Other Comprehensive Income / * - -
(expense) (net of tax)
a) Items that will not be reclassified to - = = _
profit or loss
b) Items that will be reclassified to profit or - - - ~
loss
9 Total Comprehensive Income 113.79 214.07 308.04 942.86
10] |Paid-up equity share capital (Face Value of 1,960.00 1,960.00 1,960.00 1,960.00
Rs. 2 each)
11 Other Equity 1,663.84
12} |Basic & Diluted Earning Per Share (Face
Value of Rs.2/- each) but not annualised 0.12 0.22 0.31 0.96
Notes:-
The above results were reviewed and recommended by the Audit Committee, at its Meeting held on
August 10, 2023 for approval by the board and these results were approved and taken on record at the
meeting of Board of Directors of the Company held on that date.

The company is in the business of manufacturing of Carbon Steel Forged Flanges, Forged Components
and other automotive components and management reviews the performanace of the company as a
single operating segment in accordance with Ind AS 108 - Operating Segments. Therefore no separate
disclosures are reported separately.

The unaudited financial results have been prepared in accordance with the applicable Indian
Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 and read with
relevant rules made thereunder, as amended and in terms of regulation 33 of the SEBI (Listing
Obligation and Disclosure Requirements) Regulations, 2015, as amended.

Other Income includes following : . (Rs. in Lacs)

Quarter Ended Year Ended
Particulars 30.06.2023 | 31.03.2023 | 30.06.2022 | 31.03.2023
(Unaudited) (Audited) (Unaudited) (Audited)
a) Foreign Exchange Fluctuations 10.09 4.48 68.97 152.14
b) Interest Income 0.49 -5.87 1.09 -2.95
c) Profit/loss on sale of Asset 0.78 32.97 - 30.65
d) Others 0.01 0.94 0.06 1.05
Total 11.37 32.52 70.12 180.89

Result for the quarter ended 30th June 2022 were subject to limited review by previous auditor.

Figures for previous periods/year have been regrouped and reclassified wherever necessary, to confirm
current period's presentation.

There were no investor complaints pending/received during the period.

The above Financial Results are also available on our website www.tirupatiforge.com and on stock
exchange website www.nseindia.com

For and on Behalf of Board of Directors

For, Tirupati Forge Limited

ee ee
Hiteshkumar G. Thummar
Chairman and Managing Director
Signed at Hadamtala (Distr. Rajkot) on August 10, 2023 DIN: 02112952