Aegis Logistics Ltd. — Annual Report 2021

May 27, 2021

May 27, 2021

==> picture [70 x 56] intentionally omitted <==

To, The Secretary, Capital Market Operations Market Operations Department, The National Stock Exchange of India Ltd. The BSE Ltd. Exchange Plaza, 5[th] Fl., Plot No.C/1, Phiroze Jeejeebhoy Towers, G Block, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (E), MUMBAI – 400 023. MUMBAI – 400 051.

Scrip Code : 500003

Scrip Code : AEGISCHEM

Dear Sir,

Sub.: Outcome of Board Meeting

Pursuant to regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have to inform you that the Board of Directors of the Company at their meeting held today i.e. May 27, 2021, have considered and approved inter-alia :

1. Approved Audited Financial Results (Standalone & Consolidated) for the financial year ended March 31, 2021. A copy of the same along with the Auditor’s Report thereon is enclosed for your records.

It is hereby declared that the Statutory Auditors of the Company i.e. M/s. CNK and Associates LLP, Chartered Accountants (with Firm Regn. No.101961W/W-100036), has issued Audit Reports with unmodified opinion(s) in respect of the Standalone and Consolidated financial statements of the Company for the year ended March 31, 2021;

1. Approved Audited Annual Accounts (Standalone & Consolidated) for the financial year ended March 31, 2021;

2. Recommended Final dividend @ 200% i.e. Rs. 2/- per share (face value of Re.1 each) for the financial year ended March 31, 2021, subject to approval of members at the Annual General Meeting.

The Meeting of the Board of Directors of the Company commenced at 5.30 p.m. and concluded at 7.35 p.m.

Kindly take the same on record.

Thanking you.

Yours faithfully, For AEGIS LOGISTICS LIMITED

==> picture [116 x 44] intentionally omitted <==

MONICA GANDHI COMPANY SECRETARY

Encl.: as above

==> picture [441 x 48] intentionally omitted <==

Narain Chambers, 5th Floor, M. G. Road, Vile Parle (E), Mumbai - 400 057 Tel.: +91-22-62507600 Mistry Bhavan, 3rd Floor, Dinshaw Vachha Road, Churchgate, Mumbai - 400 020 Tel.: +9l-22-6623 0600

==> picture [194 x 35] intentionally omitted <==

INDEPENDENT AUDITOR’S REPORT

TO THE BOARD OF DIRECTORS OF AEGIS LOGISTICS LIMITED

Report on the Standalone Financial Results

Opinion

We have audited the accompanying Statement of Standalone Financial Results (the Standalone Financial Results) of Aegis Logistics Limited (the Company) for the quarter and year ended 31[st] March, 2021 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).

In our opinion and to the best of our information and according to the explanations given to us these Standalone Financial Results:

• i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

• ii. give 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 profit and other comprehensive income and other financial information for the quarter and year ended 31[st] March, 2021.

Basis for 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 Standalone Financial Results for the quarter and year ended 31[st] March 2021 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 together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the quarter and year ended 31[st] March 2021 under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical 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.

Management’s Responsibilities for the Standalone Financial Results

The Statement of Standalone Financial Results for the quarter and year ended 31[st] March 2021 has been prepared on the basis of the Standalone Financial Statements for the year ended 31[st] March 2021 and the unaudited results for the quarters during the year ended 31[st] March 2021. The Company’s Board of Directors are responsible for the preparation of these Standalone Financial Results that give a true and fair view of the net profit and Other Comprehensive Income and other financial information in accordance with the recognition and measurement principles laid down in 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 of 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 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 Standalone Financial Results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone 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 either intends 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 Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Standalone Financial Results

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

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

• Identify and assess the risks of material misstatement of the Standalone 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 control.

• 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 Act, we are also responsible for expressing our opinion through a separate report on the complete set of standalone 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.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Evaluate the appropriateness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of Listing Regulations.

• Conclude on the appropriateness of the Board of Directors’ 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 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 Standalone Financial Results 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.

• Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

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 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 safeguard.

Other Matter

The Standalone Financial Results includes the results for the quarter ended 31st March, 2021 being the balancing figures between the audited figures in respect of full financial year ended 31st March, 2021 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For C N K & Associates LLP Chartered Accountants Firm Registration Number: 101961W/W-100036

DIWAKAR Digitally signed by PRABHAKAR DIWAKAR PRABHAKAR SAPRE SAPRE D.P. Sapre Partner Place: Mumbai Membership No.: 040740 Date: 27[th] May 2021 UDIN: 21040740AAAABM1566

==> picture [525 x 508] intentionally omitted <==

----- Start of picture text -----

AEGIS LOGISTICS LIMITED
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
(Rs. in Lakhs except per share data)
Quarter ended Year ended
Sr.
Particulars 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020
No.
Audited Unaudited Audited Audited Audited
1 Revenue from operations 24,273 19,684 23,538 70,490 85,972
2 Other income 6,372 870 2,821 8,246 6,654
3 TOTAL INCOME (1+2) 30,645 20,554 26,359 78,736 92,626
4 EXPENSES
Purchases of stock-in-trade 13,907 10,000 12,270 33,589 49,721
Changes in Inventories of stock in trade (2,200) (214) 1,282 (1,462) 191
Employee benefits expenses 766 991 1,066 3,303 3,832
Expenses as per Employee Stock Purchase Plan 2,809 1,404 4,214 9,832 23,879
Finance costs 422 355 518 1,548 2,269
Depreciation and amortisation expense 999 984 1,065 3,953 3,797
Other expenses 3,759 2,067 2,408 9,783 8,595
TOTAL EXPENSES 20,462 15,587 22,823 60,546 92,284
5 Profit before tax (3-4) 10,183 4,967 3,536 18,190 342
6 Tax expenses 781 1,148 91 2,593 (2,127)
7 Profit for the period/ year (5-6) 9,402 3,819 3,445 15,597 2,469
8 Other Comprehensive Income (Net of Taxes) 85 (15) (66) 40 (72)
9 Total Comprehensive Income for the period/ year (7+8) 9,487 3,804 3,379 15,637 2,397
10 Paid up Equity Share Capital 3,510 3,454 3,397 3,510 3,397
(Face value of Re.1 per share)
11 Other Equity 118,454 97,128
12 Earnings per equity share (Face value of Re. 1 each)
(Not annualised, except for the year ended 31.03.2021
and 31.03.2020)
Basic (in Rs) 2.69 1.11 1.01 4.53 0.73
Diluted (in Rs) 2.68 1.09 0.98 4.44 0.70
----- End of picture text -----

See accompanying notes to the financial results

AEGIS LOGISTICS LIMITED

STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

Segment Revenue Liquid Terminal Division Gas Terminal Division Net Sales / Income from Operations Segment Results Liquid Terminal Division Gas Terminal Division Less: Finance Cost Other un-allocable expenditure (net) Add: Interest Income Profit before tax Segment Assets Liquid Terminal Division Gas Terminal Division Unallocable Total Segment Liabilities Liquid Terminal Division Gas Terminal Division Unallocable Total Capital employed Liquid Terminal Division Gas Terminal Division Unallocable Total Particulars

(Rs. in Lakhs) 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 Audited Unaudited Audited Audited Audited 5,118 4,137 4,331 18,023 16,569 19,155 15,547 19,207 52,467 69,403 24,273 19,684 23,538 70,490 85,972 2,684 1,881 2,127 9,002 8,055 6,077 5,326 4,371 17,023 15,176 8,761 7,207 6,498 26,025 23,231 422 355 518 1,548 2,269 (1,358) 2,290 3,443 7,881 22,068 486 405 999 1,594 1,448 10,183 4,967 3,536 18,190 342 121,089 118,104 113,023 121,089 113,023 59,160 46,923 32,666 59,160 32,666 32,420 24,967 26,877 32,420 26,877 212,669 189,994 172,566 212,669 172,566 31,363 34,035 22,305 31,363 22,305 10,772 16,933 20,236 10,772 20,236 9,385 6,990 5,452 9,385 5,452 51,520 57,958 47,993 51,520 47,993 89,726 84,069 90,718 89,726 90,718 48,388 29,990 12,430 48,388 12,430 23,035 17,977 21,425 23,035 21,425 161,149 132,036 124,573 161,149 124,573 Quarter ended Year ended

AEGIS LOGISTICS LIMITED

AEGIS LOGISTICS LIMITED	AEGIS LOGISTICS LIMITED	AEGIS LOGISTICS LIMITED	AEGIS LOGISTICS LIMITED
	(Rs. in Lakhs) STATEMENT OF AUDITED STANDALONE ASSETS AND LIABILITIES AS AT MARCH 31, 2021
	Particulars	As at March 31, 2021	As at March 31, 2020
		Audited	Audited
ASSETS Non-current assets Property, plant and equipment Capital work-in-progress Intangible assets Financial assets i. Investments a) Investments in subsidiaries b) Other investments ii. Loans iii.Other financial assets Current tax assets (net) Other non current assets Total non-current assets Current assets Inventories Financial assets i. Trade receivables ii. Cash and cash equivalents iii. Bank balances other than (ii) above iv. Other financial assets Other current assets Total current assets TOTAL ASSETS EQUITY AND LIABILITIES Equity Equity Share capital Other equity Total Equity LIABILITIES Non-current liabilities Financial liabilities i. Borrowings ii. Other financial liabilities Provisions Deferred tax liabilities (Net) Other non-current liabilities Total Non-current liabilities Current liabilities Financial liabilities i. Borrowings ii. Trade payables Total outstanding dues of creditors of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises iii. Other financial liabilities Other current liabilities Provisions Current tax liabilities (Net) Total current liabilities TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES		112,754 43,522 59 4,620 1 15,190 896 3,006 3,830	112,470 21,074 85 4,612 1 4,887 809 2,400 1,001
		183,878 4,178 5,967 2,444 3,423 6,584 6,195	147,339 2,851 5,563 6,580 3,720 1,101 5,412
		28,791	25,227
		212,669 3,510 118,454	172,566 3,397 97,128
		121,964 11,174 28,082 1,069 6,397 2,935	100,525 4,850 27,821 1,179 2,964 132
		49,657 22,160 24 3,437 12,289 2,845 293 -	36,946 15,443 - 2,474 14,106 2,116 353 603
		41,048	35,095
		90,705	72,041
		212,669	172,566

	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED STANDALONE CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED STANDALONE CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED STANDALONE CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021
	Particulars	For the year ended March 31, 2021	For the year ended March 31, 2020
		Audited	Audited
Cash flow from operating activities Profit before tax Adjustments for: Depreciation and amortisation Net profits on sale of other investments (designated at FVTPL) Finance costs Interest income Corporate guarantee commission Expenses as per Employee Stock Purchase Plan Dividend Income - Non-Current investments Dividend Income - Current Provision for doubtful debts and advances Provision for doubtful advances written back Doubtful advances written off Bad debts written off Sundry Credit Balances written back Loss on sale of property, plant and equipment Actuarial Gain/ (loss) recognised in other comprehensive income Operating profit before working capital changes Adjustments for changes in working capital: (Increase) in inventories (Increase) in trade receivables (Increase)/ Decrease in non-current assets (Increase)/ Decrease in current assets (Increase) in Other Current Financial Assets (Increase)/Decrease in Other Non Current Financial Assets Decrease in other bank balances Increase/ (Decrease) in trade payables (Decrease) /Increase in short term provisions (Decrease) /Increase in long term provisions (Decrease) in other non-current liabilities Increase in other current liabilities Increase in Other financial liabilities - Short Term Increase/(Decrease) in Other financial liabilities - Long Term Cash generated from operations Income tax paid Net cash generated from operating activities (A) Cash flow from investing activities Purchase of property, plant and equipment including capital advances Purchase of intangible assets Proceeds from sale of property, plant and equipment Proceeds from sale of Non-Current Investments Payment to related parties - Aegis Gas Private Limited Proceeds from sale of Current Investments Dividend received - Non-Current investments Dividend received- Current Investments Loan given Interest received Net cash (used in) investing activities (B) Cash flow from financing activities Proceeds from Long Term borrowings Repayment of Long Term borrowings Proceeds from Short Term borrowings (net) Short term advance from related parties (net) Lease liability paid Proceeds from Issue of shares on exercise of options Dividend paid (including dividend distribution tax) Interest paid Net cashgenerated from/(used in) financing activities(C)		18,190 3,953 - 1,548 (1,594) (17) 9,832 (5,242) - 100 (243) 243 132 (496) - 53	342 3,797 (8) 2,269 (1,448) (29) 23,879 (4,783) (16) 123 - - - (8) 2 (81)
		26,459 (1,327) (636) (1,283) (783) (890) (56) 297 1,483 (61) (110) (3) 731 818 122	24,039 (119) (1,658) 2,321 494 (1,553) 6 466 (1,160) 97 174 (25) 310 824 (2,585)
		24,761 (383)	21,631 (2,481)
		24,378 (27,454) (8) 9 - (5,009) - 5,242 - (10,296) 1,954	19,150 (11,216) (21) 1 8 - 13 4,783 16 - 860
		(35,562) 9,674 (1,255) 6,717 1,145 (2,795) 113 (4,120) (2,431)	(5,556) 5,997 (6,771) 3,542 - (2,606) 57 (6,375) (1,189)
		7,048	(7,345)

	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED STANDALONE CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED STANDALONE CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED STANDALONE CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021
	Particulars	For the year ended March 31, 2021	For the year ended March 31, 2020
		Audited	Audited
Net (decrease)/increase in cash and cash equivalents (A + B + C) Cash and cash equivalents as at the beginning of the year Cash and cash equivalents as at the end of theyear		(4,136) 6,580	6,249 331
		2,444
Note : The above Cash Flow Statement has been prepared under the 'indirect method' as set of Cash Flow.

AEGIS LOGISTICS LIMITED

STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

NOTES:

• 1 The above Standalone Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on May 27, 2021.

• 2 During the year, the Company has allotted 11,333,333 equity shares of the face value of Re.1/- each to the eligible employees upon exercise as per the stock purchase plan by them. Consequent to the said allotment, the total paid up equity share capital of the Company has increased to Rs.351,000,000/- (Rupees Thirty five crore ten lakh).

• 3 The Company has redeemed its Non-convertible debenture during the year.

• 4 During the year, the National Green Tribunal (NGT) Delhi has issued an order inter alia demanding Rs. 142 crore for alleged air pollution in some villages of Mumbai. The Company has filed Appeal before the Supreme Court, against the said order citing the various reports prepared by reputed experts such as Indian Institute of Technology (IIT) and Institute of Chemical Technology (ICT) which inter alia state that Company's facility does not cause Volatile Organic Compounds (VOCs) emissions beyond permissible limits. The Supreme court has The Company is hopeful of succeeding in the aforesaid case and does not expect any significant liability arising from the same. Hence, no provision is made in these results.

• 5 The Management has considered the possible effects, if any, that may result from second wave of COVID-19 pandemic in the country on the carrying amounts of current assets after considering internal and external sources of information as at the date of approval of these financial results. Given the uncertainties associated with pandemic's nature and duration, the actuals may differ from the estimates considered in these financial results. The Company continues to closely monitor the situation.

• 6 The figures for the fourth quarter ended March 31, 2021 in the above financial results are the balancing figures between the audited figures for the full financial year and the year to date unaudited figures published up to the nine months ended December 31, 2020 which were subjected to limited review.

• 7 The Board of Directors at their meeting held on May 27, 2021 have declared an Final Dividend of Rs. per share for the year 2020-21.2/-

For and on behalf of the Board of Directors RAJ Digitally signed by CHANDARI RAJ CHANDARIA Date: 2021.05.27 A 18:47:47 +05'30'

Raj K. Chandaria Place: Mumbai Chairman & Managing Director Date: May 27, 2021 DIN : 00037518

Narain Chambers, 5th Floor, M. G. Road, Vile Parle (E), Mumbai - 400 057 Tel.: +91-22-62507600 Mistry Bhavan, 3rd Floor, Dinshaw Vachha Road, Churchgate, Mumbai - 400 020 Tel.: +9l-22-6623 0600

==> picture [187 x 34] intentionally omitted <==

INDEPENDENT AUDITOR’S REPORT

TO THE BOARD OF DIRECTORS OF AEGIS LOGISTICS LIMITED

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying Statement of Consolidated Financial Results (the Consolidated Financial Results) of Aegis Logistics Limited (“Holding company”) and its Subsidiaries (Holding Company and the Subsidiaries together referred to as “the Group”), for the quarter and year ended 31[st] March, 2021 (“the Statement”), being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on separate financial statements/ financial information of Subsidiaries, the Statement:

• a. Includes the results of the following entities: Parent: Aegis Logistics Limited

Subsidiaries:

• i. Aegis Gas (LPG) Private Limited (Subsidiary Company)

• ii. Konkan Storage System (Kochi) Private Limited (Subsidiary Company)

• iii. Sealord Containers Limited (Subsidiary Company)

• iv. Hindustan Aegis LPG Limited (Subsidiary Company)

• v. Eastern India LPG Company Private Limited (Subsidiary Company)

• vi. Aegis Terminal (Pipavav) Limited (Subsidiary Company)

• vii. Aegis LPG Logistics (Pipavav) Limited (Subsidiary Company)

• viii. Aegis International Marine Services Pte Limited (Subsidiary Company)

• ix. Aegis Group International Pte Limited (Subsidiary Company)

• b. Is presented in accordance with the requirements of Regulation 33 of the Listing Regulations, as amended; and;

• c. Gives a true and fair view, in conformity with the applicable Indian accounting standards, and other accounting principles generally accepted in India, of consolidated total comprehensive income (comprising of net profit and other comprehensive income) and other financial information of the Group for the quarter and year ended 31[st] March, 2021.

Basis for 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 Consolidated Financial Results for the quarter and year ended 31[st] March 2021 section of our report. We are independent of the Group, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the quarter and year ended 31[st] March 2021 under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in “Other Matter” paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Management’s Responsibilities for the Consolidated Financial Results

The Statement of Consolidated Financial Results for the quarter and year ended 31[st] March 2021 have been prepared on the basis of the Consolidated Financial Statements for the year ended 31[st] March 2021 and the unaudited results for the quarters during the year ended 31[st] March 2021.

The Holding Company’s Board of Directors are responsible for the preparation and presentation of these Consolidated Financial Results that give a true and fair view of the net profit and Other Comprehensive Income and other financial information of the Group in accordance with the recognition and measurement principles laid down in 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. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group 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 accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Consolidated Financial Results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Consolidated Financial Results by the Directors of the Holding Company, as aforesaid.

In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group 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 either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Auditor’s Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the quarter and year ended 31[st] March 2021 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Consolidated Financial Results.

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

• Identify and assess the risks of material misstatement of the Consolidated 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 control.

• 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 Act, we are also responsible for expressing our opinion through a separate report on the complete set of consolidated 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.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Evaluate the appropriateness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of Listing Regulations.

• Conclude on the appropriateness of the Board of Directors’ 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 ability of the Group 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 Consolidated Financial Results 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 Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Consolidated Financial Results, including the disclosures, and whether the Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group to express an opinion on the Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Consolidated Financial Results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Consolidated Financial Results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control 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.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matter

• (a) The Consolidated Financial Results include the audited Financial Results of Five Subsidiaries, whose Financial Results reflect Group’s share of total assets of Rs. 1,06,205 Lakhs as at 31st March 2021, total revenues of Rs 10,282 lakhs and Rs. 38,898 Lakhs for the quarter ended and year ended 31[st] March 2021, respectively and net cash inflows amounting to Rs. 11,453 Lakhs for the year ended on that date, as considered in the Consolidated Financial Results. The Consolidated Financial Results also include the Group’s share of Net Profit of Rs 2,506 lakhs and Rs. 13,464 Lakhs for quarter ended and year ended 31[st] March 2021, respectively and Total Comprehensive Income of Rs 2,514 lakhs and Rs. 13,466 Lakhs for the quarter ended and year ended 31st March, 2021, respectively as considered in the Consolidated Financial Results, which have been audited by their respective independent auditors. The Independent Auditors’ Reports on Standalone Financial Results of these entities have been furnished to us and our opinion on the Consolidated Financial Results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above.

Our opinion on the Consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the Financial Results/Financial Information certified by the Board of Directors.

• (b) The Consolidated Financial Results includes the results for the quarter ended 31st March, 2021 being the balancing figures between the audited figures in respect of full financial year ended 31st March, 2021 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For C N K & Associates LLP Chartered Accountants Firm Registration No.: 101961W/W-100036

DIWAKAR Digitally signed by PRABHAKAR DIWAKAR SAPRE PRABHAKAR SAPRE D.P. Sapre Partner Place: Mumbai Membership No.: 040740 Date: 27[th] May 2021 UDIN: 21040740AAAABN7024

(Rs. in Lakhs except per share data) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs except per share data) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs except per share data) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs except per share data) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs except per share data) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs except per share data) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs except per share data) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
S		Quarter ended			Year ended
r. No.	Particulars	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		Audited	Unaudited	Audited	Audited	Audited
1 2	Revenue from operations Other income	101,117 1,491	154,553 1,036 155,589 136,744 (336) 1,358 1,404 409 1,790 3,598 144,967 10,622 2,801 7,821 7,116 705 (16) (16) - 7,805 7,100 705 3,454 2.06 2.03	124,165 1,947	384,346 3,687	718,325 3,284 721,609 647,569 (378) 5,124 23,879 3,312 6,871 14,476 700,853 20,756 7,359 13,397 9,959 3,438 (73) (73) - 13,324 9,886 3,438 3,397 162,064 2.94 2.84
3	TOTAL INCOME (1+2)	102,608		126,112	388,033
4	EXPENSES Purchases of stock-in-trade Changes in Inventories of stock in trade Employee benefits expenses Expenses as per Employee Stock Purchase Plan Finance costs Depreciation and amortisation expense Other expenses	85,040 (2,381) 1,108 2,809 449 1,816 4,523		103,318 1,551 1,480 4,214 786 1,868 4,298	317,732 (1,098) 4,637 9,832 1,731 7,160 14,479
	TOTAL EXPENSES	93,364		117,515	354,473
5	Profit before tax (3-4)	9,244		8,597	33,560
6	Tax expenses	2,246		3,939	8,638
7	Profit for the period/ year	6,998		4,658	24,922
	Attributable to : Owners of the company Non Controlling Interest	6,543 455		3,411 1,247	22,338 2,584
8	Other Comprehensive Income (Net of Taxes)	97		(63)	46
	Attributable to :
	Owners of the company	97		(63)	46
	Non Controlling Interest	-		-	-
9	Total Comprehensive Income for the period/ year (7+8	) 7,095		4,595	24,968
	Attributable to :
	Owners of the company Non Controlling Interest	6,640 455		3,348 1,247	22,384 2,584
10 11 12	Paid up Equity Share Capital (Face value of Re.1 per share) Other Equity Earnings per equity share (Face value of Re. 1 each) (Not annualised, except for the year ended 31.03.2021 and 31.03.2020) Basic (in Rs) Diluted (in Rs)	3,510 1.87 1.86		3,397 1.00 0.97	3,510 190,137 6.49 6.36
See accompanying notes to the financial results

AEGIS LOGISTICS LIMITED

STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

(Rs. in Lakhs)

(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
PARTICULARS	Quarter ended			Year ended
	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
	Audited	Unaudited	Audited	Audited	Audited
Segment Revenue Liquid Terminal Division Gas Terminal Division Net Sales / Income from Operations Segment Results Liquid Terminal Division Gas Terminal Division Less: Finance Cost Less: Other un-allocable expenditure (net) Add : Interest Income Profit before tax Segment Assets Liquid Terminal Division Gas Terminal Division Unallocable Total Segment Liabilities Liquid Terminal Division Gas Terminal Division Unallocable Total Capital employed Liquid Terminal Division Gas Terminal Division Unallocable Total	6,566 94,551	5,680 148,873	5,331 118,834	23,428 360,918	20,754 697,571
	101,117	154,553	124,165	384,346	718,325
	4,495 8,274	3,003 9,772	2,702 10,744	13,609 32,627	10,507 39,007
	12,769 449 3,726 650	12,775 409 2,291 547	13,446 786 5,310 1,247	46,236 1,731 13,141 2,196	49,514 3,312 27,831 2,385
	9,244	10,622	8,597	33,560	20,756
	135,179 140,614 32,422	131,910 156,202 25,326	130,888 133,930 27,252	135,179 140,614 32,422	130,888 133,930 27,252
	308,215	313,438	292,070	308,215	292,070
	29,586 20,838 11,597	28,588 56,853 8,842	23,420 61,801 7,018	29,586 20,838 11,597	23,420 61,801 7,018
	62,021	94,283	92,239	62,021	92,239
	105,593 119,776 20,825	103,322 99,349 16,484	107,468 72,129 20,234	105,593 119,776 20,825	107,468 72,129 20,234
	246,194	219,155	199,831	246,194	199,831

AEGIS LOGISTICS LIMITED

AEGIS LOGISTICS LIMITED	AEGIS LOGISTICS LIMITED	AEGIS LOGISTICS LIMITED	AEGIS LOGISTICS LIMITED
	(Rs. in Lakhs) STATEMENT OF AUDITED CONSOLIDATED ASSETS AND LIABILITIES AS AT MARCH 31, 2021
	Particulars	As at March 31, 2021	As at March 31, 2020
		Audited	Audited
ASSETS Non-current assets Property, plant and equipment Capital work-in-progress Goodwill Intangible assets Financial assets i. Investments ii. Loan to Employees iii. Other financial assets Current tax assets (net) Deferred tax assets (net) Other non current assets Total non-current assets Current assets Inventories Financial assets i. Investments ii. Trade receivables iii. Cash and cash equivalents iv. Bank balances other than (iii) above v. Other financial assets Other current assets Total current assets TOTAL ASSETS EQUITY AND LIABILITIES Equity Equity Share capital Other equity Equity attributable to owners of the Company Non Controlling Interest Total equity LIABILITIES Non-current liabilities Financial liabilities i. Borrowings ii. Other financial liabilities Provisions Deferred tax liabilities (Net) Other non-current liabilities Total Non-current liabilities Current liabilities Financial liabilities i. Borrowings ii. Trade payables Total outstanding dues of creditors of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises iii. Other financial liabilities Other current liabilities Provisions Current tax liabilities (Net) Total current liabilities TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES		170,887 48,758 125 60 1 15,124 1,413 3,550 4,019 4,103	169,659 22,011 125 86 1 4,829 1,270 2,589 4,732 1,606
		248,040 5,239 - 9,415 29,683 3,880 3,229 8,729	206,908 4,211 730 45,403 22,247 4,097 1,638 6,836
		60,175	85,162
		308,215	292,070
		3,510 190,137	3,397 162,064
		193,647 10,902	165,461 9,060
		204,549 11,232 32,406 1,264 8,091 112	174,521 4,850 31,646 1,391 3,090 132
		53,105 23,071 36 7,431 15,132 4,057 316 518	41,109 16,705 - 40,155 13,827 3,702 402 1,649
		50,561	76,440
		103,666	117,549
		308,215	292,070

	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021	(Rs. in Lakhs) AEGIS LOGISTICS LIMITED STATEMENT OF AUDITED CONSOLIDATED CASH FLOW FOR THE YEAR ENDED MARCH 31, 2021
	Particulars	For the year ended March 31, 2021	For the year ended March 31, 2020
		Audited	Audited
Cash flow from operating activities Profit before tax Adjustments for: Depreciation and amortisation Loss on sale of property, plant and equipment Profit on sale of investments Finance costs Interest income Dividend Income on Current investments Sundry Credit Balances written back Bad debts written off Provision for doubtful debts and advances Provision for doubtful advances written back Doubtful debtors and advances written off Expenses as per Employee Stock Purchase Plan Actuarial gain/ (loss) recognised in other comprehensive income Operating profit before working capital changes Adjustments for changes in working capital: (Increase) in inventories Decrease/ (increase) in trade receivables (Increase) in other current financial assets (Increase) in current assets (Increase)/ decrease in other non current financial assets (Increase)/ Decrease in non-current assets Decrease Bank balance not considered as cash and cash equivalents (Decrease) in trade payables Increase/ (decrease) in other current financial liabilities (Decrease)/ increase in current provisions (Decrease) in other non-current liabilities Increase in other current liabilities Increase Other non-current financial liabilities (Decrease/ increase in long term provisions Cash generated from operations Income tax paid (net) Net cash generated from operating activities (A) Cash flow from investing activities Purchase of property, plant and equipment including capital advances Sale of property, plant and equipment Sale of investments in subsidiary company Sale of Current investments Loan given Dividend income received Interest income received Net cash (used in) investing activities (B) Cash flow from financing activities Proceeds from Issue of shares on exercise of options Increase in short term borrowings (net) Proceeds from borrowings Repayment of borrowings Payment of lease liability Dividend paid (including payment of dividend by a subsidiary to non-controlling interest Interest paid Net cash generated from/ (used in) financing activities (C) Net Increase/ (decrease) in cash and cash equivalents (A+B+C) Cash and cash equivalents as at the beginning of the year Cash and cash equivalents as at the end of theyear		33,560 7,160 - - 1,731 (2,196) (11) (496) 132 124 (243) 243 9,832 60	20,756 6,871 29 (8) 3,312 (2,385) (28) - 8 - - - 23,879 (88)
		49,896 (1,028) 35,732 (2,075) (1,893) (104) (1,281) 217 (32,191) 1,060 (86) (3) 354 714 (127)	52,346 (831) (22,559) (4,683) (560) 50 2,507 1,854 (8,378) (358) 112 (25) 1,050 773 222
		49,185 (5,030)	21,520 (6,889)
		44,155 (35,878) 9 - 730 (10,295) 11 2,625	14,631 (17,081) 6 - 321 - 28 1,585
		(42,798) 113 6,368 9,732 236 (3,029) ) (4,862) (2,479)	(15,141) 57 3,709 6,000 (8,275) (2,836) (8,662) (2,577)
		6,079 7,436 22,247	(12,584) (13,094) 35,341
		29,683	22,247
Note : The above Cash Flow Statement has been prepared under the 'indirect method' as set of Cash Flow.		out in Indian Accounting Standard (Ind AS 7) - Statement

AEGIS LOGISTICS LIMITED

STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

NOTES:

• 1 The above Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on May 27, 2021.

2	The following Subsidiaries have been considered for the purpose of preparing Consolidated Financial Results as per Ind AS 110 on “Consolidated Financial Statements”.	The following Subsidiaries have been considered for the purpose of preparing Consolidated Financial Results as per Ind AS 110 on “Consolidated Financial Statements”.
	Name of the Subsidiary Company	Ownership Interest in %
	Sea Lord Containers Limited	100.00%
	Konkan Storage Systems(Kochi)Private Limited	100.00%
	Eastern India LPG Co.(Private)Limited	100.00%
	Aegis GroupInternational Pte Limited	60.00%
	Aegis Gas LPG Private Limited	100.00%
	Hindustan Aegis LPG Limited	80.30%
	Aegis International Marine Services Pte. Limited	100.00%
	Aegis LPG Logistics(PIPAVAV)Limited	100.00%
	Aegis Terminal(PIPAVAV)Limited	96.00%

• 3 During the year, the Company has allotted 11,333,333 equity shares of the face value of Re.1/- each to the eligible employees upon exercise as per the stock purchase plan by them. Consequent to the said allotment, the total paid up equity share capital of the Company has increased to Rs.351,000,000/- (Rupees Thirty five crore ten lakh).

• 4 The group has redeemed its Non-convertible debenture during the year.

• 5 During the year, the National Green Tribunal (NGT) Delhi has issued an order inter alia demanding Rs. 142.20 crore for alleged air pollution in some villages of Mumbai. The Company has filed Appeal before the Supreme Court, against the said order citing the various reports prepared by reputed experts such as Indian Institute of Technology (IIT) and Institute of Chemical Technology (ICT) which inter alia state that Company's facility does not cause Volatile Organic Compounds (VOCs) emissions beyond permissible limits. The Supreme court has passed an order admitting the Appeal and has directed a stay on the NGT’s order.

• The Company is hopeful of succeeding in the aforesaid case and does not expect any significant liability arising from the same. Hence, no provision is made in these results.

• 6 The Company has opted to publish only Consolidated Financial Results. The Standalone Financial Results of the Company for the quarter and year ended March 31, 2021 will be available on the websites of the Company viz. www.aegisindia.com, Bombay Stock Exchange Ltd. viz. www.bseindia.com and National Stock Exchange of India Ltd. viz. www.nseindia.com. Additional information on Standalone basis is as follows:

PARTICULARS	Quarter ended	Quarter ended	Quarter ended	Year ended	Year ended
	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
	Unaudited	Unaudited	Unaudited	Audited	Audited
Revenue from operations	24,273	19,684	23,538	70,490	85,972
Profit before Tax	10,183	4,967	3,536	18,190	342
Profit after Tax	9,402	3,819	3,445	15,597	2,469
Total Comprehensive Income	9,487	3,804	3,379	15,637	2,397

• 7 The Group has considered the possible effects, if any, that may result from second wave of COVID-19 pandemic in the country on the carrying amounts of current assets after considering internal and external sources of information as at the date of approval of these financial results. Given the uncertainties associated with pandemic's nature and duration, the actuals may differ from the estimates considered in these financial results. The Group continues to closely monitor the situation.

• 8 The figures for the fourth quarter ended March 31, 2021 in the above financial results are the balancing figures between the audited figures for the full financial year and the year to date unaudited figures published up to the nine months ended December 31, 2020 which were subjected to limited review.

• 9 The Board of Directors at their meeting held on May 27, 2021 have declared an Final Dividend of Rs. per share for the year 2020-21.2/-

For and on behalf of the Board of Directors Digitally signed by RAJ RAJ CHANDARIA CHANDARIA Date: 2021.05.27 18:46:24 +05'30'

Raj K. Chandaria Place: Mumbai Chairman & Managing Director Date: May 27, 2021 DIN : 00037518