G N A Axles : Outcome of Board Meeting

GNA AXLES

Regd. Office: GNA HOUSE, |-C, CHHOT! BARADARI- PARTI

Phones Fax E-mail Website

GARHA ROAD, JALANDHAR. 144 404

• + 0184-4630477

• + 0181-4630477 :[e-mail] + Waww.gnagroup.com

LIMITED

Dated : 29" April, 2022

Department of Corporate Services BSE Limited

25" Floor

Rotunda Building, P J Towers Dalal Street, Fort

MUMBAI 400001

SCRIP CODE : 540124

The National Stock Exchange of India Limited

"Exchange Plaza"

Plot No C-1, G Block

Bandra Kurla Complex

Bandra

(East)

MUMBAI -- 400051

SCRIP CODE : GNA

SUB:

COMPLIANCE

OF

REGULA TION

_30_and_

33

OF

THE

SEBI

OBLIGATIONS AND DISCLOSURE REQUIREMENT. S) REGULATIONS, 2015

Sir,

(LISTING

quarter / financial year ended March 31, 2022 alongwith the Auditor's

Pursuant to Regulation 30 & 33 of the SEBI (LODR) Regulations, herewith the Audited Financial Results of the Company (both standalone and consolidated) for the

2015, please find enclosed

Board of Directors in its meeting held on

29"

April, 2022.

Report as approved by the

The Board of Directors while approving the annual accounts, has recommended an equity dividend of Rs. §/= (Rupees F. iVE Only) per Equity share for the financial year ended March, 31 2022.

financial year ended 31% March 2022,

We further state that the report of the Auditors is with unmodified opinion with respect to the Audited Financial Results (both Standalone & Consolidated) of the Company for the quarter and

.

The meeting of the Board of Directors Commenced at 12:30 PM and concluded at (' 2§7 PM. Kindly take the same on record,

Thanking You

Yours Truly

For GNA,AXLES LIMITED

rav Jain

.

C ompatiy 5 Secretary

Rare T20130PB1009PLCOTSB0

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: UNIT, ¥PO MEHTIANA, DISTT, HOSHIARPUR

Rakesh Kumar

Chhiiefef FiFi nancialial OfOffifciecerr

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01852-262273 (7 Lines) -

UNIT4I, VILLAGE GULABGARH.JATTAN DISTT, KAPURTHALA

+ 01862-262280, 262302

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RearAxle Shafts, Other. Shafls and Spindles ISO/TS. 16949/2009

HARISH & CO.

Chartered Accountants Lajpat Nagar Market Jalandhar City-144001

Independent Auditor's Report

To the Members of

GNA AXLES LIMITED.

Report on the audit of the standalone financial statements.

Opinion

We have audited the accompanying Standalone financial statements of GNA AXLES LIMITED ("the Company"), which comprise the Balance Sheet as at, March 31, 2022, the statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows ended on that date, and a summary of significant accounting policies and other explanatory information (hereinafter referred to as the "standalone financial statements").

the explanations information so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards)

In our opinion and to the best of our information and according to given to us, the aforesaid Standalone financial statements give the

required by the Companies Act, 2013 (the "Act") in the manner

Rules, 2015, as amended, (" Ind AS") accepted in India, of the state of affairs of and total comprehensive income, changes ended on that date.

Basis for Opinion

and	principles
the	31, 2022,	the	profit
in	the	year

generally

other accounting Company as March equity and its cash flows for

We conducted our audit of the standalone financial statements in accordance with the standards on auditing specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the auditor's responsibilities for the audit of the standalone financial statements section of our

code of ethics ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the rules there under, and we have fulfilled our other ethical

report. We are independent of the Company in accordance with the issued by the institute of Chartered Accountants of India together with the

responsibilities in accordance with

these

requirements and the code of ethics.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the standalone financial statements,

Key

Audit Matters:

Key audit matters are those matters that, in our professional judgment, were significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon. And we do not provide a separate opinion on these matters,

of most

w2t-

Information other than the financial statements and auditors' report thereon

The Company's board	preparation	of
information. The other	information	included	the
Corporate

in

of directors are responsible for the information comprises the

Report including Annexures to Board's Report

the other Board's

Governance and share

holder informations but does not include the financial statements and our auditor's report thereon.

Our opinion on the Standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is

materially inconsistent with obtained during the course misstated.

If, based on the work we

the	our	knowledge
of	appears	to	be	materially
have	that	there	is
report	that

fact. We

standalone financial statements or our audit or otherwise

performed, we conclude

misstatement of this other information, we are required to nothing to report in this regard.

a material

have

Management's The Company's

Responsibility for	the	Standalone
Board of Directors	are	responsible

Financial Statements for the matters stated in

Section

134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these Standalone Ind. AS financial statements that give a true and fair view of the financial position, financial performance in accordance with the accounting principles generally accepted in India, including the Accounting Standards Ind. AS specified

the
standard)	as	This responsibility	of
adequate	accordance with the	for

Rules, 2015

under Section 133 of

Act, read with Rule 7 of the Companies (Indian accounting

amended,

accounting records in

also includes maintenance provisions of the Act

safeguarding of the assets of the Company and for preventing and detecting frauds

selection	policies;
making judgments	estimates	reasonable	design,
implementation and	internal

that are

and other irregularities; and

and application of appropriate accounting

maintenance of adequate

and prudent; and financial controls, that were

operating effectively for ensuring the accuracy and completeness

records, relevant to the preparation and presentation statements that give a true and fair view and are free

of	the	accounting
of	Ind.	As	financial
from

whether due to fraudthe material misstatement,

or

error.

In preparing the financial statements, management is responsible for assessing the

Company's

related to

ability
going	and	using
to	liquidate

going	as	applicable,	matters
the	basis	of	accounting	unless
cease

has no

to continue as a concern

management either intends realistic alternative but to do

The board of directors are reporting process.

operations,	or
so.
also	Company's

financial

concern, disclosing, going concern the Company or to

responsible for overseeing the

23:

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or ertor, 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

Misstatements

As part of an audit in accordance with SAs, we exercise professional judgment maintain professional skepticism throughout the audit. We also:

a material misstatement when it exists.

individually or in the aggregate, they

can

arise

from fraud	or	are	material	if,
could	be	influence	the
and

error

reasonably

and

considered expected to

economic decisions of users taken on the basis of these financial statements.

Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence

sufficient and appropriate to provide a basis fordetecting a material misstatement resulting from fraud is higher resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control,

that	is
our	risk	of	not
than	for	one

opinion. The

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for

expressing our opinion on whether the company has adequate financial controls system in place and the operating effectiveness controls.

internal

of	such
and	the
reasonableness	made	by
management,

of

Evaluate

the

appropriateness

accounting

policies

used

of accounting estimates and related disclosures

basis of material

Conclude on the appropriateness

of
accounting	on	the	audit
uncertainty	to	events

and, based exists related

management's use of the going concern evidence obtained, whether a or conditions that may cast

significant doubt on the Company's ability to continue as a

we conclude that a material uncertainty exists, wegoing concern.

If

are required to draw

attention in our auditor's report to the related disclosures in the financial statements 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 "fo cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the standalone

financial statements, including the disclosures,

and whether the financial

statements represent the underlying transactions and events in a manner that achieves fair presentation.

t4:

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 control audit.

We also complied

that	during	our
provide	those	charged	a	we	have
with	relevant	ethical	to

we identify

with governance with

requirements

regarding

statement that independence,

and

communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguard. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatery Requirements

1, As required by the Companies (Auditor's Report) Order, 2020 ("the Order'), as amended, issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the "Annexure A" a statement on the matters

specified in paragraphs 3 and 4

of the Order.

2. As required by section 143

(3) of the Act, we report that:

a, we have sought and

of our knowledge

obtained all the information and explanations which to the bestand belief were necessary for the purpose of our audit;

b. In our opinion proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books;

c. The Balance Sheet, Statement of Profit and loss including other comprehensive income, the statement of change in equity and the cash flow statements dealt with by this report are in agreement with the books of account.

d, In our opinion, the aforesaid Standalone financial statements comply with the Accounting Standards specified under section 133 of the Act.

e,

As per the management representation we report.

no funds have been advanced or loaned or invested by the

company

to or in

any other person(s) or entities, including foreign entities (" Intermediaries")

with the understanding that the intermediaryshall whether

directly or

indirectly lend or invest in other persons or entities identified in any manner

by or on guarantee,

behalf	of	the
security	or	the	on
by

like

company (Ultimate Beneficiaries) or provide anyno funds have been received

behalf of ultimate beneficiaries.

the company from any person(s) or entities

including foreign entities ('Funding Parties) with the understanding that such company shall whether, directly or indirectly, lend or invest in other persons

or entities identified in amy manner whatsoever by or on behalf of

the funding

party (Ultimate beneficiaries ) or provide guarantee, security or the behalf of the Ultimate beneficiaries,

like on