/

g7

fuduotedet,

/i,rtitea

CORPORATE OFFICE : 8th FLOOR, EXPRESS TOWERS, NARIMAN POINT, MUMBAI - 4OO 021. (INDIA)
TEL. : (91-22)22885959 FAX: (91-22122886393 email:jbf@vsnl.com Internet site: http://www.jbfindia.com

Ref No. :

JBF/SECTttSp,tAS-tt

12th

February,20l6

The Secretary
Bombay Stock Exchange Limited
Pheroz Jeejabhoy Towers,
Dalal Street,
Mumbai, Maharashtra 400 001.

Scrip Code : 514034

Sir/Madam,

Sub : Financial Results

find enclosed herewith the Standalone and Consolidated Unaudited Financial Results
along with Limited Review Report for the quarter and nine months period ended on
Please

31't December,2015, approved by the Board of Directors of the Company in their meeting held
on

12th

February, 2016.

Kindly acknowledge the receipt of the same.

Thanking you,

Yours Faithfully,
FoT JBF

INDUSTRIES LIMITED

MRS. UJJWAL,{APTE
COMPANY SECRETARY

REGD. oFFlcE : SURVEY No. 279, V|LLAGE ATHoLA, S|LVASSA-996 290. (tNDtA)
TEL. : +91'0260'2642745146,2ilffi61162. FAX: +91-0260-2642297 E-mail : admin@jbfmail.com
(tso 9001, 14001, 18001 CERTIF|ED) CtN' 199999DN1982p1C000128

CHATURVEDI

SHAH

Chortered Accountonts

TNpEpENpENT AU,q|TORS' REVIqW REPORT

To,
The Board of Directors

JBF lndustries Limited

1.

We have reviewed the accompanying Statement of Standalone Unaudited Financial

Results of JBF Industries Limited ("the Company") for the quarter and nine months
ended 31't December,2015 ("the Statement"), being submitted by the Company
pursuant to requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015. This statement is the responsibility of the Company's
Management and has been approved by the Board of Directors. Our responsibility is to
issue a report on the statement based on our review.

2.

We conducted our review in accordance with the Standard on Review Engagements

(SRE) 2410, 'Review of lnterim Financial lnformation Performed by the lndependent
Auditor of the Entity'issued by the Institute of Chartered Accountants of India. This
standard requires that we plan and perform the review to obtain moderate assurance as
to whether the financial statements are free of material misstatements. A review is
limited primarily to inquiries of company personnel and analytical procedures, applied to
financial data and thus provides less assurance than an audit. We have not performed
an audit and accordingly, we do not express an audit opinion.

3.

Based on our review conducted as above, nothing has come to our attention that causes
us to believe that the accompanying statement, prepared in accordance with applicable
Accounting Standards and other recognized accounting practices and policies has not
disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations,2015 including the
manner in which it is to be disclosed, or that it contains any material misstatement.

For CHATURVEDI & SHAH

Chartered Accountants
(Firm Registration No. 101720W)

--'' i-)

( n69-*
,al,/

n. xonra
Paftner
Membership No. 35629
Place: Mumbai
Date: 12th February, 2016

Head 0ffice: 714-715, Tulsiani Chambers,

21

2, Nariman Point, Mumbai - 400 021 , lndia. Tel.: +91 22 3021 8500

URL : www.cas.ind.in

Branches: Ahmedabad

Bengaluru

Delhi

I Jamnagar

'

Fax '.+91 22 3021 8595

Continuation Sheet........

JBF INDUSTRIES LIMITED

JBF INDUSTRIES LIMITED
Survey No. 273, Vitlage: Athola, Silvassa' ( D & NH)
STATEMENT OF STANDALONE

CIN : L99999DN1982PLC000128
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER

3 Months
ended

Preceding 3
lonths endod

31.t2.15

30.09,15

Unaudited

Unaudited

Particulars

]rosg Sales from operations

l) Net Sales from operations (net of excise duty)
l) Other Operating

2 :xpen8e8
l) Cost of materials consumed

)) Purchases

of

109.309

285,953

363,833

453,960

89,639

83,067

100,043

262,498

331,1 88

412,280

93

87

114

290

326

408

89,732

83,154

100.157

262.788

331.5r4

412.688

64,139

58,609

74,774

201,994

258,690

310,521

14

38

157

Stock- in- trade

:) Changes in Inventories of Finished goods and Stock -in'

Audited

90,025

Inc,ome

Iotal lncome from operation3 (net)

Unaudited

Unaudited

Unaudited

97.300

ncome from Operation8

NINE MONTHS ENDED 3lST DECEMBER, 20t5

data
R3 in Laca
Year to date
Yeer to date
figurea for the Accountlng
:orrespondlng
figures for the
Year ended
Previous
Months ended
current porlod perlod
31.03.15
onded
31.12,11
ended 31.12.15
a4 4A 4A

'

157

3,083

3,829

1,602

(7,81e)

(2,s47)

5,023

crocess
d) Employee benefits expense

2,058

2,049

1,812

6,t39

5,272

7,377

e) Depreciation and amortisation expense

2,612

2,513

2,478

7,536

7,153

9,676

1l,483

9,282

,604

u,141

37,344

46.875

83,275

76.296

92,272

242,029

305,669

379.629

6,457

6,858

7,885

20,759

25,845

33,059

772

742

723

2j75

2,025

2.764

7,229

7,600

8,608

22,934

27,870

35,823

4,538

5,024

3,745

3,886

10,13'l

14,524

2,172

1,245

f) Other Expenses

)rofit from Operations before Other lncome, Finance

:osts. Exchanqe Difference & Exceptional ltems (l-2)
Sther Income

rrofit from ordinary activitiee before finance cogts,

:xchanqo Difference & Exceptional ltems (3+4)
r) Finance Costs ( Net ) (Refer Note No. 4)
r) Exchange Oifference & Derivative Loss ( Net )

frf,t

ftom ordinaty actitlties after Financo costs &

:rrh.nde Difference but beforo Exceptional ltems (56)

'#,r r,^- n'al'.d A.ftvilies

before TaX

(7{l

58

1,713

1,086

2,446

2,633

863

3,777

6,602

15,567

20,054

2,633

863

3,777

5.602

15,567

20,054

899

320

924

2,311

4,449

6,1 10

-?ttt

543

2,853

1,291

1t.118

13,944

1,734

543

2,853

4,291

fi,118

t3,944

8,187

6,550

6,550

8,187

6,550

6,550

'tc fax Expenses ( Including Deferred Tax )

{et Profit from Ordinary Activities after Tax (9-10)

11

,l

Extraordlnary ltem (net of expenso R3' Nll)

{et Profit forthe Period/Yeal

14

'aid

Up Equity Share caPital

each)
iFace Value of Share Rs. I 0/'15

1(

102,184

Reserves Excluding Revaluation Reserve (As perAudited

Balance Sheet of previous accounting year)
Earning Per Share - Basic (Rs.) - ('Not Annualised)
- Oiluted (Rs.) - ('Not Annualised)

2.49'
2.49'

0.70'
0.70t

4.22'
4.22'

;i\iBAl

6.13'
6.13'

16.60'

20.78

lA qq*

20.78

JBF INDUSTRIES LIMITED

Notes

Gontinuation Sheet........

1 The Board of Oirectors approved the above mentioned financial results, duly reviewed by audit committee at its meeting held on 12th February, 2016

and its release.

2 The financial results are in accordance with the recognition and measurement principles laid down in Accounting Standard (AS-25;

-" ln1gr;t

Financial Reporting".
3 The Statutory auditors of the Company have carried out a Limited Review of these results in terms of Regulations 33 of the SEBI (Listing Obtigations
and Disclosure Requirements) Regulations, 201 5.

4 Finance Costs (Net) consist of the ficllowings

Rs. in Lacs

rarticulars

Yoar to date

Year to date
Proceding 3 Corresponding
igures for the Accounting
tigurss for the
Uonths ended 3 Months ended
Previous
Year ended
Durrent period
period snded
30.09.15
31.12.14
31.03.15
rnded 31.12.15

3 Months
ended

3r.12.15

31.12.14

) Interest & Other Borrowino cost (Net)

l) ADDliceble Net loss on foreidn cllrrenev fransrcfinn
:inance Cost (A+B)

-ess: Interest lncome

:inance Costs (Net)

5,917

5.073

411

949

6,328

6,022

4.O32
654
4.686

1.790

998

941

4.538

6,024

3,745

'15.478

10,594

2.O12
't7.490

| 439

1.597

't2.133

17.155

3.604
13.886

10.131

2.002

15,558

2.631

14,524

poect at Mangalore, being executed through Step down subsidiary JBF

Petrochemicals Ltd is proceeding satisfactorily.The project is expected to be completed with in next six months.
6 During the quarter, the KKR Jupiter Investors Pte Ltd. (lnvestor) has invested USD 150 Million in the Group. Accordingly 16,374,370 Equity shares of
Rs. lO/-each at a premium of Rs. 290/- per share on preferential basis aggregating to Rs. 49123 lacs have been allotted by the Company and
12,2'10,527 Compulsory Convertible Preference Shares aggregating to Rs. 50065 lacs (Equivalent to USD 7,56,49,902) have been allotted by the
JBF Global Pte. Ltd Singapore, a wholly owned subsidiary of the Company.
5 lmplementation of the 1.25 Million Tonnes per annum green field PTA

7 In the opinion of the management, the company is engaged only in the business of producing polyester based products. As such, there are no
separate reportable segments.

8 Figures in respect of the previous period^'ear have been regrouped or rearranged or reclassified wherever necessary to make them comparable.
For & on Behalf of the Board of Director3

hTt,
BHAGIRATH C. ARYA
CHAIRMAN

Place: Mumbai
Date : 12th Fsbruary,2016

. ..-!;/_,\
;"' .1,

,1,,

.:'',

;tsAl

t;

|!

il
'i.
ii,ll

i5/,
r-.''

/t

,-r'r',V

._.".i.-/

,,,rfltqiil,
\t.q_;17

CHATURVEDI

SHAH

Chortered Accountonts

NpFpENpENT AIJptTOBS' RFV|EyV REFORT

To,

The Board of Directors

JBF lndustries Limited
1.

We have reviewed the accompanying Statement of Consolidated Unaudited

Financial Results of JBF lndustries Limited ("the Company") and its subsidiaries
(the Company and its subsidiaries together referred to as "the Group") for the
quarter and nine months ended 31tt December 2e15 ("the statement"), being
submitted by the Company pursuant to requirement of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.This
statement is the responsibility of the Company's management and has been
approved by the Board of Directors. Our responsibility is to issue a report on the
statement based on our review.

We conducted our review of the Statement in accordance with the Standard on

Review Engagements (SRE) 2410 'Review of lnterim Financiat lnformation
Performed by the lndependent Auditor of the Entitl issued by the Institute of
Chartered Accountants of India. This standard requires that we plan and perform
the review to obtain moderate assurance as to whether the Statement is free of
material misstatement. A review is limited primarily to inquiries of Holding
Company personnel and analytical procedures applied to financial data and thus
provide less assurance than an audit. We have not performed an audit and
accordingly, we do not express an audit opinion.

The Statement includes the interim consolidated financial statements of JBF

Global Pte Ltd., the subsidiary., whose interim consolidated financial statements
reflect the total revenues of Rs. 117106lacs & Rs. 394962 lacs for the quarter
and nine months ended 31tt December,2015 respectively and total loss after tax
of Rs. 4537 lacs and Rs. 2468 lacs for the quarter and nine months ended 31't
December,2015 respectively, as considered in the statement, based on these
interim consolidated financial statements as prepared and certified by the
management. Our review on the statement, in so far as it relates to the amounts
and disclosures included in respect of the above subsidiary (including its
subsidiaries), is based solely on these un-reviewed consolidated financial
statements furnished to us by the management.

714'T15,TulsianiChambers,2l2,NarimanPoint,l\4umbai-400021,lndia.Tel.

Branches: Ahmedabad

Bengaluru

Delhi

Jamnagar

+912230218500.Fax'.+91223021

8595

CHATURVEDI

ffiffi

SHAH

Chortered Accountonts

4.

ln view of the matter reported in paragraph 3 above, we are unable to comment

whether the accompanying statement have been prepared in accordance with the
applicable Accounting Sfandards and other recognized accounting practices and
policies or it contains any mateial misstatemenf. Subject to the above we report
that nothing has come to our attention that causes us to believe that the
accompanying statement has not disclosed the information required to be
disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 including the manner in which it is
to be disclosed.

For GHATURVEDI & SHAH

Chartered Accountants
(Firm Registration No. 101720W)

.--77
.)fuR. KORIA
Partner

Membership No. 35629

Place: Mumbai
Date: 12h February 2016

Continuation sheet...

JBF INDUSTRIES LIMITED

JBF INDUSTRIES LIMITED

Continuation Sheet........

Survey No. 273, Vlllage: Athola, Silvassa, ( D & NH)

CIN : L99999DN1982PLC000128
STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / NINE MONTHS ENDED 3IST DECEMBER, 2015
Rs ln Lacs
share data
3 Months

ended
31.12.15

Particulars

Year to dat6
Year to date
Preceding :
Corresponding flgures for the ligures for the Accountlng
Months
3 Months
currgnt
Previous
Year ended
ended
ended 31.12.{4 period ended period ended
31.03.15
30.09.15

31.12.'i-5

31.12.14

Unaudlted

Unaudited

Unaudlted

Unaudited

208,056

220,007

249,290

663.917

705,625

928,659

200,395

213,049

240,025

6/,0,462

672,980

886,979

180

355

213

760

798

968

200,575

213,404

240,238

641.222

673,778

887,947

143,025

145,U7

177,511

465,457

520,78'l

653,1 13

14

38

157

157

1,575

6,363

(3,48s)

(10,3101

(23,715)

7,038

6,623

6,689

20,903

16,451

23,532

9,039

8,807

8,780

26,568

22,716

30,678

) Other Expenses

31,884

31,496

32,739

101,008

90,897

fotal Expenditure

192,561

199.150

222.232

603,664

627,287

826,376

8,014

14,254

18,006

37,558

46,491

61.571

196

119

551

494

1,550

1,826

8,210

14,373

18,557

38,052

48,041

63,397

't2,976

11,914

11,402

37,068

29,761

42,367

(4661

2.220

4,082

1,673

5,567

12,089

(4.3001

239

3,073

(68s1

12,713

8,941

(4.3001

239

3,073

(68e1

12,713

8,941

891

294

900

2,254

98

5,832

Gross Sales from operatlon

Unaudlted

Audlted

ncome from Operations

r)

Net Sales from operations (net of excise duty)

l) Other Operating lncome

fotal Income
!xpenses
r) Cost of materials consumed
r) Purchases

of Stock-

in- trade

) Changes in Inventories of Finished goods and Stock -in)r0cess

1)

Employee benefits expense

r) Depreciation and amortisation expense

>rotit from Operations before Other Incomo, Finance cost,

ixchange Difference & Exceptional ltems (1.2)

)ther Income

trofit from ordinary activities before finance cost,

ixchange Difference & Exceptional ltems (3+4)
r) Finance Costs (Net) (Refer Note No 5)

Exchange Difference & Derivative Loss (Net)

)rofit r(Loss) from ordinary activities after Finance costs &

ixchange Difference but before Exceptional ltems (5-6)

(5s3)

19.489

:xceptional ltems

trofit /(Loss) from Ordinary Activities before Tax (7.8)

1( fax Expenses (lncluding Deferred Tax)

4,1

tlet Profit /(Loss) from Ordinarv Activities after Tax (9-10)

:xtraordinary ltem (net of expense Rs. Nil)

(5.191

(551

2,173

e,943"

8.515

3,109

12

1:

{et Profit /(Loss) for the period/vear

(5.191

(551

2,173

(2.943t

8.515

3,109

11

14 vlinoritv lnterest

1t tlet Profiu(Loss) after Tax and Minority Interest (13-14)

1e

)aid Up Equity Share Capital

Face Value ofShare Rs. 10/- each)

880
(4,311

(s5l

2,173

(2,242',,

8.515

3,109

8,187

6,550

6,550

8,187

6,550

6,550

701

1i leserves Excluding Revaluation Reserve (As perAudited

lalance Sheet of previous accounting year)

175,506

1t iarning Per Share (Before Extraordinary items)

-Basic (Rs.) (*Not Annualised)

(6.64).

(0.22).

3.1 9*

(3.80)-

12.62*

4.23

(Rs.) - (.Not Annualised)

(6.64).

(0.22)'

3.1

9'

(3.80).

12.61'.

4.22

iarning Per Share (After Extraordinary items)

-Basic (Rs.) (.Not Annualised)
- Diluted (Rs.) - ('Not Annualised)

(6.64r

(o.22)'

3.1

9'

4.23

@.22\'

3.1

9.

(3.80)'
(3 80).

12.62-

(6.64v

12.61',

4.22

- Diluted

ffi

"fHFillp"fb?IB[ES'Jvt${l"T#P"

mentioned rinanciarresurts, dury reviewed by auditcommittee at its meetins n",o

and its release.

98F"toif"H,3$gn

",

2 The financial results are in accordance with the recognition and measurement principles laid down in Accounting Standard (AS-25) -" |n1g1i.
Financial Reporting".

3 The Statutory auditors of the Company have carried out a Limited Review of these results in terms of Regulations 33 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.

4 The consolidated financial results hav been prepared as per Accounting Standard (AS) 21 on Consolidated Financial Statements and includes the
unreviewed consolidated tinancial statements of JBF Global Pte Ltd. The same has ben qualified by the auditors of the company in their report on
the aforesaid consolidated financial results,hoflever the management has confirmed that the financial statements of subsidiaries have been
prepared by following accounting principls prevailing in the respective country of their incorporation.
5 Finance Costs (Net) consist of the followings :
Particulars
3 Months

Precedlng 3

Montht

ended

ended

31.12.1 5

{) Interest & Other Borrowinq cost (Net)

) Applicable Net loss on foreiqn currencv transaction

Finance Cost (A+B)

-ess : lnlerest lncome
=inance Costs (Net)

30.09.15

12.803
411
13.214

Co1163pondlng
3 Month3
onded 31.'12.14

Year to date
Year to date
igures tor the figuret for th
Accountlng YeaJ
curont
Prevlous
perlod ended perlod onded .ndod 31.03.15
31.12.15

.205

t t.701

949
12.154

65!

2.012

12355
953
11.4o2

11

238

240

12.976

11.914

31.12.14
30.372
1.439

43.485

38. t 43

31.811

45.082

I 075
37 068

2.050
29.761

42.367

36.131

1.597

2.715

6 lmplementation of the 1.25 Million Tonnes per annum green field PTA project at Mangalore, being executed through Step down subsidiary JBF
Petrochemicals Ltd is proceeding satisfactorily.The project is expected to be completed with in next six months.

7 During the quarter, the KKR Jupiter Investors Pte Ltd. (lnvesto0 has invested USD 150 Million in the Group. Accordingly 16,374,370 Equity shares
of Rs. loleach at a premium of Rs. 290/- per share on preferential basis aggregating to Rs. 49123 lacs have been allotted by the Company and
12,210,527 Compulsory Convertible Preference Shares aggregating to Rs. 50065 lacs (Equivalent to USD 7,56,49,902) have ben allotted by the
JBF Global Pte. Ltd Singapore, a wholly owned subsidiary of the Company.

8 During the period, JBF Global Pte Ltd has in its Consolidated Financial Statements capitalized finance costs amounting to Rs.7869 lacs in respect of
earlier years, which was earlier charged to Statement of Profit and loss . Accordingly the equivalent amount has been added to the retained
earnings.

9 The Company opted to publish Consolidated Financial results. The standalone results of the Company will be available on Companys Website
www.jbfindia.com. Additional information on standalone basis are as follows.

3 Months

Months
end6d

Corre3pondlng
3 Months

30.09.15

ended 31.12.'14

Unauditad

Unaudit.d

Unaudited

89 639
2.633

83.067
863
543

ended
31.12.15

tarticulars
tlet Sales from ooerations
rrofit from Ordinarv Activities before Tax
{et Profit for the PeriodfYear

Precedlng:

1.7U

100,043

2,853

Year to date
Year to date
tigu.ss for th. figures for the
Accountlng Yeal
currant
Previous
period ended perlod ended ended 31.03.15
31.12.15

31.12.11

Unauditod

Unaudited

262.494
6,602
4,291

Audited
412.24O
20 054

SJl,ldd
15.567

13 944

10 Information about consolidated Primary (Geographical) Segments are under

Rs. in Lacs
3 Months

ended
31.12.15

tarticulars

83,1 85
135,707
218,892
5,369
213,523

100,165
146,920
247,O85
6,296
210,789

262,838
395,247
658,085
16,369
641,716

7,893
10,664
18,557
11,402

4,082

20,808
17,244
18,052
37,068
1,673

(4,3001

6,817
7,556
11,373
11,514
2,220
239

3,073

(68e)

22,177
48,041
29,761
5,567
12,713

219,058
71,309
2go 367

150,188
47,949
198.137

142,577
50,557
q1 l1l.

219,058
71,309
ton 1a7

142,577
50,557
193.134

206,832

(a) Domestic
(b) Inlemational

Total
Less: (i) Financs Cost (net)
(ii) Exchange Difference & Derivative Loss (Net)
Total Profit /(Loss) Bsfo.e Tax

31.12.14

Unaudlted

89,750

't17,082

Inter Segment Revenue

31.12.15

Unauditod

Unaudlted

Total

Le$:

Precedlng 3
Months
Corespondlng
curgnt
Previous
ended
3 Months
period ended perlod anded
30.09.15
ended 31.'12.1/t

Unaudlted
1. Segment Revenus
(a) Domestic
(b) Intemational

Total Revenue
2. Segment Results

Year to date
Year to date
rigures for the iguros for th

6,061
2O0,771

6,546
1,664
8,210
12,976
(4661

Unaudited

Accounting Year
ended 31.03.15

Audited

331,532
365,188
096,720

412,859
50n'O22

z |,Jva

23,108
889,773

675,328

25,8U

912,881

33,230
30,167
63,397
42,367
12,089
8,941

3. Capital Employed
(Segment assets - Segmeni Liabililies)

(a) Domestic
(b) Intemational

Total

,l

144,997

38,550
1Aa Bl?

i) As per Accounting Standard (AS) -17 on " Segment Reporting" the Company has identified and reported geographical as primary segment taking
into account the differing risks and returns, the organization structure and the internal reporting system.

ii)These segment are organized into two main business segment based on geographic :l) Domestic : Operations within India ll) Intemational

Operations outside India.

I 1 Figures in respect of the previous period/Year have been regrouped or rearranged or reclassified wherever necessary to make them comparable.

For & on Behalf of the Board of Oirectors

b-.
Place: Mumbai
Dats : 12th February, 2016

Sheet""""