E-LAND

APPAREL

Date: 24‘“ May, 2019

The General Manager The Manager

Department of Corporate Services Listing Department

BSE Limited National Stock Exchange oflndia Limited

New Trading Ring, Exchange Plaza, Plot No. C/1, G-Block,

Rotunda Building, 15t Floor, Bandra-Kurla Complex, Bandra (East)

P.] Towers, Dalal Street, Mumbai - 400 051

Fort, Mumbai - 400 001 Symbol: ELAND

Scrip Code: 532820

Dear Sir/Madam,

Subject: thcome of Board Meeting

-

a ion OofSEBl Listin Ob' at'o s'

cos e' e ui e ents

Regulations 2015

We wish to inform you that pursuant to Regulation 30 of SEBl [Listing Obligation and

Disclosure Requirements) Regulations, 2015 it is hereby informed that the meeting of

Board of Directors of the Company held on Friday, May 24, 2019, at Palai Plaza, 3rd Floor,

9, Kohinoor Road, Opp Hotel Pritam, Dadar (East), Mumbai 400014 and considered and

approved the following transactions:

1. Audited Financial Results of the Company for the quarter and year ended 31-“

March, 2019. (Annexure 1].

2. Voluntarily delisting from National Stock Exchange oflnclia Limited:

The meeting commenced on 02:00 pm. and concluded atlllléi’pm.We request you to take the above on your record.

For E-Land Apparel Limited

CHONGTAE BAEK

Director

DIN: 01566661

E-Land Apparel Limited

(Formerly known as Mudra Lifestyle Limited)

Regd off :- Office No. 404, 4‘“ Floor, Western Edge-l, Western Express Highwav, Magathane, Borivali (East), Mumbai-400066

Tel: 431722-4097 2600, Fax: +91-22-4097 2601, CIN : L17110MH1997PLC106945, Web‘

www.e|andappare|.com

HINESH R. DOSHI & C0 LLP Palai Plaza, 3rd Floor,C h a r t e r e d A c c a u n t a n t s 9, KohinoorRoad, Opp. Hotel Pritam,

Dada: (East), Mumbai - 400 014.

Tel. : +91-22-66008100 / 8111

Email : info@hineshdoshi.com

www.hineshrdoshicollp.com

Auditor's Report on Quarterly and Annual Standalone Financial Results of E-Land Apparel Limited

pursuant to the Regulation 33 of the SEN (Listing Obligation and Disclosure Requirements)Regulations, 2015

TO

THE BOARD OF DIRECTORS OF EALAND APPAREL LIMITED

1. We have audited the standalone annual financial results of E-Land Apparel Limited ("thecompany”) for the year ended 31 March 2019 attached herewith, being submitted by the

company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015 (listing Regulations') as modified byCircular No.ClR/CFD/FAC/62/2016 dated July 5, 2016. Attention is drawn to the fact that

figures for last the quarter ended 31 March 2019 and the corresponding quarter ended in

the previous year as reported in these standalone annual financial results are the

balancing figures between audited figures in respect of the full financial year and the

published year to date figures upto the end of the third quarter of the relevant financial

year. Also the figures up to the end of the third quarter had only been reviewed and not

subjected to audit.

This Statement is the responsibility of the Company's Management and approved by the

Board of Directors, has been prepared in accordance with the recognition and

measurement principles laid down in the Indian Accounting Standard 34, prescribedunder Section 133 ofthe Companies Act, 2013 read with relevant rules issued thereunder

and other accounting principles generally accepted in India. Our responsibility is to

express an opinion on these annual financial results based on our audit of the annual

financial statement.

2 We have not performed a review of the figure relating to the 1“ quarter for the year,

corresponding quarter of prevrous year financial statements drawn for the yearended as

on 31" March, 2018, which were reviewed by Deloitte Haskins & Sells LLP, Chartered

Accountants, the predecessor auditor.

3. We conducted our audit in accordance with the auditing standards generally accepted in

lndia. Those standards require that we plan and perform the audit to obtain reasonable

assurance about whether the standalone annual financial results are free of material

misstatement. An audit Includes examining, on a test basis, evidence supporting the

amounts disclosed as financial results. An audit also includes assessing the accountingprinciples used and significant estimates made by Management. We believe that ouraudit

provides a reasonable basis for our opinion.

4. In our opinion and to the best ofour information and according to the explanations givento us these financial results:

(i) are presented in accordanc

(Listing Obligations and Di )EE0}?“

thssli R. Doslu & Co LLP (LLPAAD-7013) is registered as I Limiled

equirements of Regulation 33 of SEBI

ents) Regulations, 2015; and

Hinesh k, Doshi a Co has converted from partnership firm to an LLP

(ii) give a true and fair View in conformity with the aforesaid Indian AccountingStandards and other accounting principles generally accepted in India of the net

loss and total comprehensive income and other financial information for the year

ended 31 March 2019 c

S, We draw attention to Note 3 of the Statement, which indicates that the Company has

incurred losses of Rs.744.30 lakhs for the quarter ended March, 2019 and loss of Rs,

4,151.87 for the year ended 31" March, 2019. The accumulated losses as on 31“ March,

2019. have eroded the net-worth of the Company. These conditions indicate the existence

of a material uncertainty that may cast significant doubt on the Company's ability to

continue as a going concern. However, the Statement has been prepared on a goingconcern basis for the reasons stated in the said Note.

Our report is not modified in respect of this matter.

For Hinesh R. Doshi 8i CD LLP

Chartered Accountants

Firm Registration No- 103677W/W100056

MMKWHinesh R. Doshi

Partner

Membership No. 042539

Place: Mumbai

Date: 24‘h May, 2019

(emnin

APPARELLIMKYED

(Formerlyknownas

“Mudra

Liiesiyle

lened")

Regd.

omee:

016/20,5n

Vinayzkeindl

Estate,

singsssndre,Neal

neksninHonda

ShowroomHouse

Road,

aengslore,Kamatakaindie,

550053

rel

49103042545300

Web5ite:

wwweiandepnare(um

CIN1L17110KA1997PLC1205§8

(3

In

Lakhs)

Statemenlof

UnaudnedFinancialnesuns(or

the

quarlerendedMarzh31,

2019

|

Quenerended

Year

ended

Year

ended

Sl

No

Panizulars

31-Marv19

310mm

317Marvw

31~Marv15

31»Mer-1s

(Audned)

(Unaudited)

(Audited)

(Audhed)

(Audiied)

1

Revenuefrom

nperanons

4,65609

4,43913

4,405.21

17,20139

13,37152

2

Olhel

income

3320

a

25

73.55

404.61

20321

3

Total

Income(1+2)

4,539.29

4,447.43

4,433.33

17,005.51

13,579.73

4

Expenses(a)

Casiui

raw

materialand

cumponentscansumed

2,263.52

2,07131

2,135.54

9,29574

10,590.43

(5)

Changesin

(memoriesor

fin

shed

goods,

Work'inspmgress

234.54

517.79

375.97

19555

51153

(e)

Extiseduty

.

-

21.04

(:1)

Employeebenefits

expenses

1,217.59

1,310.03

1,50359

5,155.57

5,13930

(e)

Finance{0515

(ReferNote5)

72523

1,05475

27179

3,91037

2,24133

(f)

Depreeieiien,Amenizsrionand

Impairmentexpense

49.75

49.11

45.55

194.39

209.43

(g)

Diner

expenses

933.55

940.25

414.62

3,00500

2,991.14

ram

eiipenses

5,433.55

5,352.90

4,701.25

21,752.10

22,311.20

5

Loss

More0ax

and

exeemionaiitems(34)

(744.30)

(1,405.47)

(217.33)

(4,151.37)

(4,231.47)

5

:xeemiona(ems-

(inedme)/[xpenses(ReierNate1)

-

3,511.02

3,611.02

7

loss

werein:

(5-5)

(744.30)

(1,446.47)

(3,320.40)

(4,151.57)

(7,342.49)

9

Ya:

expense(1)

Curventlax

expenses

-

.

(2)

Deferredtax

.

~

9

Less(or

the

period/year(7-8)

(744.30)

(1,405.47)

(3,023.40)

(4,151.87]

(7.54249)

10

Other

comprehensivelnwme

.

53

59

53.59

1

(a)

itemsihaxw(notbe

reclassifiedtaprufitandloss

23.72

22

72

-

(0)

incomeiax

relatingwitemsthatw

Inoibe

reclassifiedm

promor

loss2

(a)

Itemsthatin

be

reclassifiedto

promand

loss

.

.

(is)

incomerax

relaringm

nemsmarw

(norbe

reclassifiedto

promor

loss

.

-

renal

21.72

.

53.50

22.72

63.59

11

ram

comprehensiveineerne{at

mepe

'od/

year

(sun)

(715.55)

(1,405.47)

(1,754.71)

(4,123.15)‘1

(7,770.30)

Q.v

nr,3

o

12

Paid-upequityshare

:epiiai(Face

Value3

10/-)

4,799.05

W»—\

4,799.05

4,7

g,

Q4,

9.05

1

\

.

1

N‘13

4

\\

5

7’

13

Earningsper

eduiryshare

(an10/-

each)-

7

3,

/—\\i,.

.

1)

aasicandD

med

(1.55)

(7

95)

See

accampanvingHatesm

the

nnznei

iresuiis

‘

Mm

annuaised(or

the

quarter

Netestdhnentielreeutts

Iakhsl

Exnpllonl!

:mstonsntlfleflnulmEUExpenses.

auar

rtnded

yeereneee

yeerended

iI/Mav/JE

alrpee/u

at/Mar/ts

31/Mil/l9

31/Mar11

Aicelr'rrdn

tequr‘nmmvgsflreebarmwlrlg

3.57257

rnerenteetemmeninteme

eierneie1tbeiewi

benenton

cherime

Seulememtorsiuit

:ndcrg

tneternere:

1

baaw)

mar61]

:nrcrslalat

rithtbr

lemmnens:liabllllybeyetitere

lender:tneierhere1

t

.

.

Wm]

tntet

3.511112

guidelines

pnrsuanttbthesame,baeettFWUMEdEFDlled

1.1.

The

campanv.in

2012.had

appliedlet

the

leslmuulmgat

its

debxslhvcughcarpereteDebt

Reslrucwrmg(may

Methanisntas

:rwlszgedunderthe

ReserveBankof

indiela

pn

apprpyatet

the

cancell

the

Cpmpanyenteredintbe

Master

ReslrunlmrlgAgreementin

September2m:tn

maythe

(nmpanvendit;

law

subxldlawyit

EvLand

Fashionindia

rnyate

timited

ter

one

Tlme

settlementtotslWllhall

the

pantsin

the

epnsprtiuinypursuantla

which.

approvalwax

lewlveddurlngthe

year

endedMarch

31.1013Tram

{he

hanksforthe

msin

reepeetoflhebe

Dwmgsat

boththe

ndereythe

CompanyutilnedExpafl

pdyaneeereeeiyeditem

Blandpsie

ttetdingtrte.the

Haldlng

Cempanyyto

repaythe

bormwlngslmmbinks

enti5

Based

enrece

altlteapprdtraltprmslrpmttteednsertinme

and

alsothe

bdrrawntsham

EFIPLl’o

:nsuv:thatthe

entitiestempiyWiththe

or;isa

GloupThlsnee

resnttedin

an

aeeeieratedunwinding

dlthe

nptipnaiinterenetat

deemed

guarantee

cbmmistientnttnnelen

the

interestalreebolrawmgsfrom

EHHbl

R5

3,571.67lakh5

,lncludmg

reepntiliatipnof

balanns,

Sutlemtnre1

dug;nnal

:ppmh/IIham

(any

reeeiptof

'Nn

uuesca

:(5‘

Trent

banksete

have

been

epmpleted

1.2

Duringthe

quarlerendedMarch31,

2:11:31the

m5

Tbrmaiiti

and

accordingly.an

amountof

Rs

15751

laltnawas

eretilitedto

the

statementbl

P'Mlland

toss

Towardsthe

benefitarisingan

accountbl

the

OTS

Furlhenthe

companyalso

reversedthe

ptmionitit

rtebtpl

reebmpenseammmllngla

Rs.10404

lakhs

madein

the

book:in

the

previousperieds,

The

Gavemmema!

ind

Toducedthe

Goodsand

SeryieeTax

lamwtth

efienlremluly1,

N17

Consequenrlv,the

revenuelet

the

periedsattersiiehdateere

presentednet

plasrandare

aeedtdtnglynet

eontpamble

Withthe

bteyieiispenedendedJune

30,1017

ptesentedin

the

resulls

lussufRs

4,151.57let

the

The

Company)1):

.neurrettInssesat

Rs

744so

tetns

(befare

ptnereenrerenensiteineemeiten

the

quinerendedMeren

31mm

teuarterenttedMerenat

1D1ErR5

aman

inkhs)and

ullzruntertanitytliatmayeastlem

eant

doubt

veer

endeden

31"

Mareh.1n19.The

aeturntilatedloses

exceedits

paidup

eapttaland

ether

equttyason

31“

March.2019.

These

cendrtionsindiatethee

teneeine

mat

abeutthe

(nmplny‘sa

ityto

tentanueisa

going

peneernend.

lhemlareit

maybe

unebleto

realiseits

assetsand

disehereeits

5

in

the

nerrnelteurseer

busines:the

Managementis

eurrently

implementinga

planto

increase

Wmuvu,rmprbyeprelneity

and

tineneialpeeitien.sell

eertein

nanmmasset:andhis

assessedthatit

Willtie

anteto

meetthe

markingeapttei

requirementsfur

the

next12

mount:bisgden

its

eesh

lit-m

preyeettpnsThe

Holding

companyhe:

ilwufllmmldflmmlllSuppante

the

Companytn

tentinueasa

gn‘mg

ddneernThe

Companyis

therelbrebeint

viewedasa

teint

cansernandthe

«manualres-mehave

been

preparedunderthe

eetngeenternasanrnptten.

The

companyhas

anlvone

reportablesegmenti.e.

Garments

tndA5

115e

neyenueTrain

centraetswith

Cuxtumgrsyniendetaryfvr

manningpariads

beginningan

or

eiterApril1,

2m,

recline:exlSIing

reyeniiedandardindAS

13

The

apptiaatier.e1

indAS

115

has

imaaetet-lthe

Companye

aeepuntingterracagnitlunat

revenuelmmcomraclswtlhcusmmerslnwfaratit

relatestie

:ccaummg

bisenineentttnanatneedmpenentin

the

tentratts

The

ceinpanyhas

appliedthe

mounted

retrespettiyeeppreaehta

edntiaetsthat

werenet

completedas

on

April1.

2mand

hasglvenrmpaetellndAS

115

epplteatienby

debittta

the

apenln!balaneebl

retainedearnints

et

at

the

Said

dateby

Rs.

Lassoa.

Abcdrdintly,the

tempemttyesbayenot

been

restatedand

ltenbenet

wmparabletlt

previouspertad

ntiires.

Forthe

euettetendedMath31.

2019,the

applieatienal

IndA5

115has

resultedtn

me

the

Plum:ms

btlrlg

hitherbyas.

75514

laklis

(quarterendrneDecemberuse

1m75

lakhs)and

lest

altettaxhem;

higherby:

ble.Thebasreand

diluted595

wauldbeas

to

09]as

alalnslRs

(1.55)

ti

larameuntyistayisthe

anteuntsii

the

replapedstandard

wasappl

The

abbye

res-thehavebeen

reviewedbytheAudit

cemmlttae

andappmyedby

the

beard

emnettersat

their

respectivemeetingsheldan

May24.

2019and

have

been

subyenedha

limitedreyiewhy

the

Statutory

Auditors.The

epntpanyhas

ehaneedits

registerelficeTrprn

Mnmbaittt

bang-inre

Fol

Indnn

behannltheboardare

mes/“

Independentnltettur

mm

01565661mete:

Minni

bate:

Mayll,1015

HAND APPAREL LIMITED

Balance Sheet as a1 Mavch 31, 2019

(l in Lakhs)

Particulars“5 m “s at

3111 Mar 2019 31 March 2011

455575

Nanrcurrem assek:

(a) Prupenv, Plan! and Equlpmem 4,295,72 4,335.52

(12) (film! lnxanglblg 535215 2199 53.55

\1) lmaucmlAsms

ll) llwextmEntS

a] Oxhel lnvEstmem: 1.00 1 00

)1) 011m llnanalal assels 257.95 250.42

11)) Other lmlvcurreut 315215 394.77 447 22

mal Nam Currem Assels 4,971.47 5,099.03

Current assets

la) lnvenlorle: 1,539 47 2,195 45

10) mama) aneu

1,10th lllveslmenu 15 47 22,73

11) lrwu retelvahlus 1,937 31 2,305.23

)0) am and cash ngalanu 1,749 01 550.74

(19) 0mm manual «1521: 15 53 15.25

0,010511‘11151055550 1,154.20 945.37

5,547,99 5,047.35

Asxeu [lasxllled 35 held '02 sale » 19.32

Tmil cunenl asseu 5,547.99 5,057.10

15151 351511 11,519.45 11,155.25

EQUIYV AND LlABleES

Equity

1a) Emmy 57w: capital 4,799.05 4,799.05

10,0015 251.11) (35,444.20) (25,271.75)ma) Emmy (30,545.15) (22,472.70)

105.1102,

Non»:wrenl Ilabllmes

la) Fmanaal Dahllllles

11) 55.15071“; 3,504.54 1,000 97

(10011151 lwa-malnamlma; 14.00 14.01

)5) Plowman; 341.35 345,74

)0) 0mm non-107mm llahllltlES 34,752.49 25,935.14

rolal Non - Cunam Llammles 10,5124: 30,255.15

507mm hamlmas

1a) H'mnclal 11101111121

ll) Trade navables 3,023.42 3,505.41

1).) Olhel fmallclal llahllme; 5.55 13.20

111) 0151mm); 155 07 135.34

It) Otlmv umm llabllllles 351.53 515.15

Tolal Cunem 1' 3,5521: 4,342.10

75151 1155201.“ 42,154.51 31,533.95

10lalEquiwam1 Llahllllles 11,519.45 11,155.25

FM and an behall om): Bulrd oi bland A

(’fl»than. Yae Baek

lndependenl Dlrecmr

0111:01555551

Place : Mumbal

Date May 24,2019