AYM Syntex Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2024

1.The aforesaid standalone financial results of AYM Syntex Limited (the 'Company') were reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on August 10, 2024.



2.The abovesaid standalone financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies, to the extent applicable.



3.Pursuant to the Employees Stock Options (AYMSOP 2021) Scheme, on exercise of the stock options, the Company has allotted 100000 equity shares of Rs.10 each to employees on April 26, 2024 resulting in increase in paid-up share capital by Rs.10 Lakhs and securities premium by Rs. 35.93 lakhs. These shares rank pari-passu in all respects with existing equity shares of the Company.



4.On May 12, 2023, an incident of fire occurred in some of the manufacturing lines of one of the unit of the Company, located at Rakholi, Silvassa, U.T. Of Dadra & Nagar Haveli and Daman And Diu, India.





The cost of repairs, restoration, loss of assets (inventory and PPE) and other related losses/expenses incurred during the year ended March 31, 2024 aggregating to Rs.2,226 lakhs were recognised under 'Exceptional Item' in the Statement of Profit and Loss. Further, the above expenses were netted off for the impact of claim receivable amounting to Rs. 1,165 lakhs and an interim claim receipt of Rs 400 lakhs and the net amount of Rs. 661 lakhs was disclosed as 'Exceptional Item' in the Statement of Profit and Loss for the year ended March 2024. The Company further received a communication from the insurance company for an interim claim of Rs 1200 lakhs against the loss incurred towards business interruption which was accounted as operating income in the financial statements for the year ended March 2024.



The insurance claims are in accordance with the terms and conditions of the insurance policies and communications from the insurance company which will be received in due course.



5.The Company is engaged only in the business of "Synthetic Yarn" and therefore, has only one reportable segment in accordance with the Ind AS 108 - 'Operating Segments'.



6.Figures for the quarter ended March 31, 2024 as reported in these financial results are the balancing figures between audited figures in respect of the full financial year and the unaudited published year to date figures upto the end of the third quarter of the relevant financial year. Also the figures upto the end of the third quarter were subjected to limited review by the Statutory auditor.



The Statutory auditors have digitally signed this Statement for identification purposes and this Statement should be read in conjunction with their review report