Union Quality Plastics Ltd — Results, 12-07-2025: Result

UNION QUALITY PLASTICS LIMITED

Regd. Office: 200/A, SHYAM KAMAL B, CHS LTD, AGARWAL MARKET, TEJPAL ROAD, VILE PARLE EAST, MUMBAI-400057. MH. IN

CIN: L25209MH1984PLC033595, E-mail: cs.uqpi@gmail com, Contact No: +91 22 26100367/8

To,

BSE Limited,

The Corporate Relationship Department

Phiroze Jeejeebhoy Towers,

Dalal Street,

Mumbai,

Maharashtra-400001

Scrip Code: 526799

Dear Sir,

Sub: Outcome of Board Meeting and submission of Audited Financial Results (Standalone) for

the Quarter/Year ended 31" March, 2025 as per Regulation 33 of SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 201 5.

We wish to inform you that the Board of Directors in their Meeting held on 30" May, 2025,

which commenced at 4:30 P.M. and concluded at 7:30 P.M., at 11-4-646-G/D310, Flat No. 310,

First Floor, Vijaya Hills Apartment, Vijaya Hills Road, Lakdi ka Pool, Hyderabad, Telangana-

500004, have inter alia, considered and approved the following:-

1. Audited Financial Results for the Quarter/Financial year ended 31" March, 2025

2. Auditor’s Report issued by Statutory Auditor of the Company

3. Declaration in terms of Regulation 33(3)(d) of SEBI(Listing Obligations and Disclosure

Requirements) Regulations, 2015 as amended

4. Statement of Impact of Audit Qualifications

5. Appointment of M/s. Atluri Ramesh & Associates, Company Secretaries, Hyderabad, as

Secretarial Auditors of the Company for Conducting Secretarial Audit for Financial Year 2024-25

6. Appointment of Mr. Sayed Shahnawaz Nazir as Internal Auditor of the Company.

You are requested to kindly acknowledge the receipt of the same.

Thanking you,

Yours faithfully,

// N

Place: Hyderabad

Date: 30™ May, 2025

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PART I: FORM OF BALANCE SHEET

UNION QUALITY PLASTICS LIMITED

CIN No. L25209MH1984PLC033595

209-A, Sham Kamal B Building, Tejpal Road,Vile Parle East, Mumbai -400057

BALANCE SHEET AS AT 31st MARCH, 2025 5 T Rs. in Lakhs.

Farticaery Note No: [ iived As at 31033028 Audited As 2131,03.2024

ASSETS

Non-current assets

Property plant and Equipment 210 4642 5283

Capital Work Inprogress

Intangible assets 211 0.01 0.01

Financial assets Investments 2.12 539 5.39

Other Financial Assets 213 87.78 87.78 Deferred Tax Assets (net) 214 544 16.28

Other non current assets 215 - -

145.05 162.30

Current assets

Inventories 2.16 158.06 158.06

Financial assets

Trade receivables 217 136.09 161.39 Cash and cash equivalent 218 19.34 1775

Other financial assets 213 188 1.88

Other current assets 215 456.23 1.65 771.60 340.73

TOTAL 916.64 503.03

EQUITY AND LIABILITIES

Eq Equity Share Capital 219 692.64 692.64

Other Equity 220 (856.28)) (1,231.77)] (163.65) (539.14)|

Liabilities

Non-current liabilit)

Financial Liabi Borrowings 221 - -

Provisions 222 3.66 3.66 Other Financial Liabilities 223 “ -

I T56

Current iti Financial Liabilities

Borrowings 221 541.19 544.60

Trade payables 224 396.93 42884 Other financial liabilities 223 92.49 29.28

Provisions st i 15.15 14.15 Other current liabilities Py 3087 21.63

. —TU7563 TU38.30]

TOTAL 916.64 503.03

Significant Accounting Policies and Notes to Accounts| 1.233.2.41

Place: Hyderabad

Date: 30-05-2025

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TNTON QUALITY PLASTICS LIMITED Registered Office : 209-A SHYAM KAMAL B BUILDING,TEJPAL ROAD,VILE PARLE EAST,

CIN No. L25209MH1984PLC033595 MUMBAI-400057 (R in Lakhs)|

FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2025

Cuartr enied | Quarer eaded | Quanerended | Vearended | Vewrended

\il;. Particulars 310328 311224 3103724 310328 310324 . Audited | Unaudited | Audited | Audited | Audited

Thcome

[Revenue from operations - - Total Revenue from operations s - % - >

2[Gher income G300 (%3 50200 578

[Towl Tncome 603.00 678| 60.00 578

3|Expenses - [Cost of materials consumed & Purchase of Traded Goods - 003 B T 5

[Purchases of Traded Goods - 5 5 . 5 anges m ventories = = n S 5

[Employee benefits expense TS5 T ER7) (X5 583 Toance costs - - 00 033 3

preciation Gnd GmOMiZalion EXpense 541 B EXE] LX) 7 [Other expenses 978 EAk) 536|330 123

ofal Expenses 78S &) 1501 76T 7635

3[Pront before tax 356,15 GEN| (B3] 3863 T1947)

5[ expense

(1) Current tax B 2 3 A 2 (3) Deferred tax 081 237 [CED) 1053 ©03)

[ Net Profi for the Period EERA]] [E8E)) (ALY I X5 949)

7[Other comprehensive imcome (OTT.

[(@) (1) Tiems That will not be reclassilied 10 prolit of 10ss - - - - - Ti1) Tax on fiems that will not be reclassified 1o profit o 1oss 0 = = - p

T6) () Trers That will be reclassified to profit of Toss 0 5 c = =

Tin) Tncome tax relating 10 Wems that will be recTassiTied 1o profi of Toss < = 5 - %

[ TomT Uilier Comprehiensive income EEER)) [€AE3) (O] ETEE) )

S| TotaT Comprehensive mcome EEER]) [CAL] (AL IR 10.44) AT wp Share CapiiaT [2X1) XN MG XEN WX [$5X1]

[Other Equity @628 (L1I178)

TO[Earnings per equity share [(Face valus of Rs T07- cach)

) Besic TET ()] ICALD) EX)

(2) Diluted ¥ (017]] (UTT)} 537 T [ shove resus were reviewed by the Aulit Commies 324 Wkes on fecord and 4poro-ed By the Board of Diteciors t hew meeting held on S0th day of May. 2025 e

tatement included the resuls fo the quarte ended 313 March 2025 and 311 Mar 2024 being the balsneing figure of the audited figures in respect of the fullfrancil year T tovat ot v n e o Reglaion 33 of e SED1 (L sing Olgation nd Diclomre Rerement) Rgolation, 2015 snd SEDH il dted i oy

o016 3 The cvrre operatons of T Company Telae 1o oy Gne segrment_Hence, segmentl g 3 per TND AS-T08 s ot made

Place: Hyderabad Date: 30-05-2025

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PART 11l : FORM OF CASH FLOW STATEMENT UNION QUALITY PLASTICS LIMITED

CIN No. L25209MH1984PLC033595 209-4, Sham Kamal B Building, Tejpal Road,Vile Parle East, Mumbai -400057

CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH, 2025 Rs. in Lakhs

Asat Asat March 31, 2025 Mareh 31, 2024

‘Cash Flows from Operating Activities Net profit before tax. 38633 1947

Adjustments for Depreciation and amortization expense 641 724

Provision for doubful debis/advances/ impairment Dividend Income

Gain on Investments carried at fair value through profit & loss

Profit/Loss on sale of Investements Finance cost

De-Recognition of Financial Liabilties Reciept of Interest

Operating profit before working capital changes 39274 1223 Movemeats in Working Capital

(Increase)/Decrease in Trade Receivables 2530 12403 (Increase)/Decrease in Other financial assets s <

(Increase)Decrease in Inventories 3

(Increase) Decrease in Other Current Assets 45458 (Increase)/Decrease in Other Non Current Assets . 5

Increase/(Decrease) in Trade Payables 3191 -10.4s

Increase/(Decrease) in Other financial liabilities 5981 - Increase/( Decrease) in Other Current liabilities 92 060

Increase(Decrease) in Other Non-Current labilities - p Increase/(Decrease) in Provisions 100 s

Changes in Working Capital Cash generated from operations 160 078

Direct Taxes Paid Net Cash from operating activities (A) 160 078

Cash flows from Tnvesting Ac Dividends Received -

Purchase of Fixed Assets 5 (Purchase) /Sale of Investment

Reciept of Interest -

Net Cash used in Investing Activities (B) - g

Cash flows from Financing Activities Procesds from issue of Shares -

Proceeds from Long term borrowings - - Repayment(Proceeds) of/from Short-term borrowings - 203

Finance cost - - Net Proceeds from receipt of Calls in Arrear -

Net Cash used in Financing Activities (C) - 203

Net Increase/(Decrease) in cash and cash equivalents (A+B+C) 1.60 128

19.02 17.74 Cash and Cash equivalents at the beginning of the year Cash and Cash equivalents at the ending of the year (Refer Note 2.18)

"As per our report of even date IMITED

Place: Hyderabad

Date: 30/05/2025

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H.0.: H No. 6-3-244/5, Sarada Devi Street, SAGAR & ASSOCIATES Prem Nagar, Hyderabad - 500 004

Phone: 040-2339 5588, 2330 3371

CHARTERED ACCOUNTANTS Website: sagarca.com E-Mail: sagarandassociates@yahoo.co.in

GST No: TS - 36AAJFS7295N178

AP - 37AAJFS7295N275

Independent Auditor’s Report on Quarterly and Year to Date Audited Financial Results of

Union Quality Plastics Limited pursuant to the Regulation 33 of Securities and Exchange

Board of India (Listiong Obligations and Disclosure Requirements) Regulations, 2015, as

amended

To

The Board of Directors

Union Quality Plastics Limited

Hyderabad

Qualified Opinion

1. We have audited the accompanying statement of Financial Results (“the Statement”) of

Union Quality Plastics Limited (“the Company) for the quarter and year ended 31

March 2025 and reviewed the accompanying Financial Results for the quarter ended 31

March 2025 being submitted by the company pursuant to the requirement of Regulation

33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as

amended (“the Listing Regulations”).

2. In our opinion and to the best of our information and according to the explanations given

to us, except for effects of the matters described in the Basis for Qualified Opinion

Paragraph, this Statement:

i. are presented in accordance with the requirements of the Listing Regulations in this

regard; and

ii. gives 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 the Net loss, Other comprensive

loss and other financial information of the Company for the quarter and year ended

31 March, 2025.

Basis of Qualified 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

Standards are further described in the Auditor's Responsibilities for the Audit of the 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. ("the ICAI") together with

the ethical requirements that are relevant to our audit o thef)nancial Results for the year ended

B.O.: Flat No. FF-3, H No 40-6-2, Goteti Apartment, Kandari Hotel Street, Krishna Nagar, Vijayawada — 520 010

B.O.: H. No. 10-1-86, Mehar Nagar, Old Gajuwaka, Visakhapatnam — 530 026

B.0.: No. 4, Poes Road, 4th Street, Teynampet, Chennai — 600 018

B.O.: Flat No. 3C, Jeevan Residency, Behind Kalanjali, Renigunta Road, Tirupati - 517 501

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31 March 2025 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 ICAI's Code of

Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to

provide a basis for our opinion.

iii.

Rs. 355.35 lakhs is the amount of Sundry Debtors outstanding for period exceeding three

years out of which provision of Rs. 219.26 lakhs had been made in earlier years as

expected credit loss. Receivables outstanding net of provisions is Rs. 136.09 lakhs. No

provision has been made during the current quarter or previous year. In our opinion the

company should provide for additional Expected Credit Loss (ECL) in respect of non

moving debtors. In the absence of confirmation and owing to long outstanding, we are

unable to comment on the recoverability of the receivables

Rs. 158.06 lakhs is the amount of Closing Stock and not moving more than two years and

the net Net Realisable Value (NRV) of the inventories are not determined by the

company. In the absence of determination of NRV and also due to slow moving nature,

we are unable to comment on appropriateness of the inventory.

Rs. 396.93 lakhs is the amount of Sundry Creditors outstanding for period exceeding three

years. No Confirmation has been received from the Creditors. In the absence of such

Confirmations from the Creditors we are not in a position to determine its impact on the

Financial Statements.

Other current Assets Rs. 454.58 lakhs comprises of

a. Rs. 419.25 lakhs transferred to Ikon Associates during the year a related party as

an Advance, but the nature of transaction and terms & conditions not available on

record.

b. Rs. 35.33 lakhs is balance receivable from Gopinath Enterprise Private Limited

towards sale for which terms of receipt not on record.

Rs. 5.05 lakhs is the closing balance comprising of seven bank accounts, out of which one

bank statement provided to us for verification is Rs. 3.67 lakhs only. We have not been

provided with remaining six bank statements or confirmations from the bankers for the

balance amount Rs. 1.37 lakhs. Hence, we are unable to express our opinion on this A/

concern.

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vi. Rs. 1430 lakhs is outstanding balance of Fixed deposits with City Bank. No

Confirmation has been received from the Bank. In the absence of such Confirmations

from the Bank we are not in a position to determine its impact on the Financial

Statements.

vii. Rs. 87.78 lakhs is long outstanding balance of other Financial Assets which comprises of

EMDs and Tender deposits. No provision provided in this regards.

viii. ~ Company has accumulated losses and its networth has been fully eroded, the Company

has incurred a net loss/net cash loss during the current quarter and previous years and, the

Company’s current liabilities exceeded its current assets as at the review date. These

conditions indicate the existence of a material uncertainty that may cast significant doubt

about the Company’s ability to continue as a going concern.

Management's Responsibilities for the Financial Results

This Statement which includes the Financial Results is the responsibility of the Company's Board

of Directors, and has been approved by them for the issuance. The Statement has been compiled

from the related Ind AS Audited Financial Statements. This responsibility includes the

preparation and presentation of the Financial Results for the quarter and year ended 31 March

2025 that give a true and fair view of the net loss and other comprehensive income and other

financial information in accordance with the recognition and measurement principles laid down

in 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 Listing Regulations. This responsibility also includes

maintenance of adequate accounting records in accordance with the provisions of the Act for

safeguarding 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 the accuracy

and completeness of the accounting records, relevant to the preparation and presentation of the

Financial Results that give a true and fair view and is free from material misstatement, whether

due to fraud or error,

In preparing the Financial Results, 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

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either intend to liquidate the Company or to cease operations, or has no realistic alternative but to

do so.

The Board of Directors are also responsible for overseeing the financial reporting process of the

Company.

Auditor's Responsibilities for the Audit of the Financial Results Statements

Our objectives are to obtain reasonable assurance about whether the 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 Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain

professional skepticism throughout the audit. We also:

o Identify and assess the risks of material misstatement of the 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 controls.

e Obtain an understanding of internal financial controls 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

e Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the Management

o Evaluate the appropriateness and reasonableness of disclosures made by the Board of

Directors in terms of the requirements specified under Regulation 33 of the Listing

Regulations.

¢ Conclude on the appropriateness of the Management's 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 Company's

>

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ability to continue as a going concern. 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

Statement 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.

e Evaluate the overall presentation, structure and content of the Financial Results,

including the disclosures, and whether the Financial Results represent the underlying

transactions and events in a manner that achieves fair presentation.

e Obtain sufficient appropriate audit evidence regarding the Annual Financial Results of

the Company to express an opinion on the Annual Financial Results.

Materiality is the magnitude of misstatements in the Annual Financial Results that,

individually or in aggregate, makes it probable that the economic decisions of a reasonably

knowledgeable user of the Annual Financial Results may be influenced. We consider

quantitative materiality and qualitative factors in

(i) planning the scope of our audit work and in evaluating the results of our work; and

(ii) to evaluate the effect of any identified misstatements in the Annual Financial Results.

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 controls that we identify during our audit. We also provide those

charged with governance with a statement that we have complied with relevant ethical

requirements 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 Statement includes the results for the quarter ended 31 March 2025 being the balancing

figures between audited figures in respect of the full financial year ended 31* March 2025 and

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the published unaudited year-to-date figures up-to the third quarter of the current financial year,

which are subjected to limited review by us, as required under the Listing Regulations.

For Sagar & Associates

Chartered Accountants

FRN. 0035108

B Qb

(B. Srinivasa Raé)

Partner

Membership No. 202352

UDIN: 25202352BMHYMA7779

Place: Hyderabad

Date: 30-05-2025

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UNION QUALITY PLASTICS LIMITED

Regd Office: 200/A, SHYAM KAMAL B. CHS LTD, AGARWAL MARKET, TEJPAL ROAD, VILE PARLE

EAST, MUMBAI-400057, MH, IN (CIN: L25209MH1984PLC033595, E-mail: cs.uqpi@gmail com,

Contact No: +91 22 26100367/8

To,

BSE Limited,

The Corporate Relationship Department

Phiroze Jeejeebhoy Towers,

Dalal Street,

Mumbai-400001

Serip Code: 526799

Dear Sir/Madam,

Sub: Declaration under Regulation 33(3)(d)

of SEBI (Listing Obligations and Disclosure Requirements) (Amendment)

Regulation, 2016 and SEBI Circular

No, CIR/CFD/CMD/56/2016.

DECLARATION

In compliance with the provision of Regulation

33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) (Amendment)

Regulation, 2016 and SEBI Circular

No, CIR/CFD/CMD/56/2016, I hereby declare that Sagar & Associates,

Chartered Accountants (FRN: 003510S), Statutory Auditors of the Company,

have issued an Audit Report with Qualified Opinion on Audited Financial Results

(Standalone) of the Company for the quarter

and &

135 %

rfi’\m efia Sai Musunuri

& .- HOfficer

Place: Hyderabad

Date: 30™ May, 2025

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