Alembic Ltd — Interim / Quarterly Report 2022

Nov 12, 2021

Date: 12th November, 2021

To, The Manager, Listing Department, National Stock Exchange of India Ltd Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai

Dear Sir,

Sub: Outcome of Board Meeting

With reference to the captioned subject, the exchange is hereby informed that the Board of Directors of Alembic Limited at its meeting held today has inter alia approved the Unaudited Financial Results of the Company for the quarter and half year ended on 30th September, 2021.

We enclose herewith the following:

• 1. Consolidated Unaudited Financial Results of the Company for the quarter and half year ended on 30th September, 2021 and Consolidated Statement of Assets and Liabilities as at 3Qth September, 2021.
• 1. Standalone Unaudited Financial Results of the Company for the quarter and half year ended on 30th September, 2021 and Standalone Statement of Assets and Liabllittes as at 3Qth September, 2021.
• 1. Limited Review Report by Statutory Auditors on Consolidated as well as on Standalone Unaudited Financial Results.

The time of commencement of the Board Meeting was 3:30 p.m. and the time of conclusion was 4:30 p.m.

We request you to kindly take the same on your record.

Thanking you.·

Encl.: A/a

ALEMBIC LIMITED

REGO. OFFICE : ALEMBIC ROAD, VADODARA - 390 003. • TEL : (0265) 2280550 • FAX : (0265) 2282506 website: www.alembiclimited.com •E-mail: alembic.investors@alembic.co.in • CIN: L26100GJ1907PLC000033 •PAN: AABCA7950P

ALEMBIC LIMITED CIN:L26100GJ1907PLC000033 Regd.Office: Alembic Road, Vadodara 390 003 Ph:0265 2280550 www.alembiclimited.com Email:alembic.investors@alembic.co.in

Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021

	Rs in Lakhs
		Quarter Ended			Half Year Ended	Year Ended
Sr.
No.	Particulars	30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		1,951		1,676	4,034	3,014	7,352
	1 Revenue from Operations		2,082
	2 Other Income	8,141	196	268	8,337	549	1,027
	3 Total Income	10,092	2,278	1,943	12,371	3,564	8,379
	4 Expenses
	Cost of Materials Consumed	170	234	310	404	563	1,177
	Cost of Construction	252	248	101	500	101	1,286
	Changes in Inventories of Finished Goods and WIP	65	304	64	369	136	(239)
	Employee Benefit Expenses	559	547	579	1,106	1,199	2,260
	Finance Costs	12	10	8	22	17	36
	Depreciation and amortisation expense	115	113	·97	228	189	394
	Other Expenses	627	341	374	968	694	1,761
	Total Expenses	1,799	1,797	1,532	3,596	2,899	6,675
	5 Profit Before Tax	8,293	481	411	8,774	665	1,704
	6 Tax Expenses				979	103	290
	Current Tax	891	88	91	53	30	35
	Deferred TaxShort/ (Excess) Provision of earlier years	44	8	(2)		-	(6)
	·	-	-	-	-7,742	533	1,384
	7 Net Profit after tax for the Period	7,358	384	322
		4,658	4,522	9,357	9,180	17,999	32,900
	8 Share of Associate's Profit
	9 Net Profit after tax and Share of Associate's Profit	12,016	4,906	9,679	16,922	18,531	34,284
	10 Other Comprehensive Income
	A (i) Items that will not be reclassified to Profit or (Loss)	8,182	(5,548)	9,365	2,634	12,922	38,992
	(ii) Income tax relating to items that will not be reclassified to
	Profit or (Loss)	(939)	650	(1,067)	(289)	(1,457)	(4,452)
		(9)	53	(53)	45	(61)	(75)
	B (i) Items that will be reclassified to Profit or (Loss)
	11 Total Comprehensive lncome/(Loss) for the Period	i9,250	62	17,924	19,312	29,935	68,749
	12 Paid up Equity Share Capital (Face Value of Rs 2/- per share)	5,135.64	5,135.64	5,135.64	5,135.64	5,135.64	5,135.64
	13 Other Equity (excluding Revaluation Reserve)						1,80,277
	14 Earnings per equity share (FV Rs. 2/- per share)	4.68	1.91	3.77	6.59	7.22	13.35
	Basic & Diluted (In Rs.)

	Alembic Limited
	Segment wise Consolidated Revenue and Results						Rs In LakhsYear Ended
Sr.			Quarter Ended			Half Year Ended
No.	Particulars	30.09.2021			30.06.2021 30.09.2020 30.09.2021 30.09.2020 31.03.2021
					(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
	1 Segment Revenue
	Revenue from Operations
	a. Active Pharmaceutical Ingredients Business	81S	1,069	842	1,884	1,569	2,849
	b. Real Estate Business	1,136	1,013	833	2,149	1,445	4,502
	Total Income from Ooerations (Net)	1,951	2,082	1,676	4,034	3,014	7,352
	2 Segment Results (Profit(+)/ Loss(-) before Taxes and interest from each
	segment)
	a. Active Pharmaceutical Ingredients Business	83	141	4	224	(48)	(128)
	b. Real Estate Business	269	277	306	546	406	1,312
	Total	352	418	310	771	358	1,184
	Unallocable Income and Expenditure
	(i) Interest Expense	(12)	(10)	(8)	(22)	(17)	(36)
	(ii) Dividend Income and Gain/(Loss) on Fair Value Change of Financial Asset	7,949	69	(9)	8,018	143	115
	(iii) Other Income/ (Exaense)	4	4	118	8	181	442
	Total Profit Before Tax	8,293	481	411	8,774	665	1,704
	3 Segment Assets
	a. Active Pharmaceutical Ingredients Business	14,824	15,115	14,876	14,824	14,876	15,445
	b. Real Estate Business	23,695	22,416	15,468	23,695	15,468	21,494
	c. Unallocated	2,21,554	2,02,840	1,68,307	2,21,554	1,68,307	2,03,958
	Total	2,60,073	2,40,370	1,98,651	2,60,073	1,98,651	2,40,896
	4 Segment Liabilities
	a. Active Pharmaceutical Ingredients Business	1,825	1,896	1,766	1,825	1,766	1,712
	b. Real Estate Business	4,741	4,661	4,302	4,741	4,302	4,819
	c. Unallocated	5,006	4,048	1,694	5,006	1,694	4,663
	Total	11,571	10,605	7,762	11,571	7,762	11,193

Notes:

1 The above results have been reviewed by Statutory Auditors, recommended by Audit Committee and approved by the Board of Directors of the Company.

2 The previous quarter's/ year's figures have been regrouped/ rearranged wherever necessary to make it comparable with the current quarter/ year.

Chirayu Amin Chairman

Statement of Consolidated Assets and Liabilities		Rs in Lakhs
	As at 30th	As at 31st
Particulars	September, 2021	March, 2021
	(Unaudited)	(Audited)
ASSETS
Non-Current Assets
(a) Property, Plant and Equipments	13,354	13,369
(b) Capital Work-in-Progress	97	584
(c) Investment Property	14,793	13,124
(d) Goodwill	5	5
(e) Financial Assets
(i) Investments	51,954	49,279
(ii) Investments accounted using Equity Method	1,62,993	1,53,779
	97	110
(iii) Loans(iv) Others	313	352
		85
(f) Other Non-Current Assets	-2,43,606	2,30,687
Current Assets
(a) Inventories	6,953	5,428
(b) Financial Assets
(i) Investments	7,010	1,659
(ii) Trade Receivables	1,043	1,381
(iii) Cash and Cash Equivalents	277	589
(iv) Bank Balances other than included in (iii) above	75	69
(v) Others	92	80
( c) Other Current Assets	980	967
(d) Current Tax Assets (Net)	37	37
	16,467	10,209
TOTAl-ASSETS	2,60,073	2,40,896
EQUllY AND LIABILITIES
Equity
(a) Equity Share Capital	5,136	5,136
(bl Other Equity	2,43,366	2,24,567
	2,48,502	2,29,703
Liabilities
Non-Current Liabilities
(a) Financial Liabilities
(i) Other Financial Liabilities	559	506
(bl Provisions	122	83
(c) Deferred Tax Liability (Net)	5,006	4,663
	5,688	5,252
Current Liabilities
(a) Financial Liabilities	3	28
(i) Borrowings
(ii) Trade Payables	109	182
a) total outstanding dues of Micro and Small Enterprises		1,599
b) total outstanding dues of creditors other than Micro and Small Enterprises	1,843	386
(iii) Other Financial Liabilities	414
(bl Other Current Liabilities	2,438	2,680
(cl Provisions	1,077	1,066
	5,884	5,942
	2,60,073	2,40,896
TOTAL - EQUllY AND LIABILITIES

For Alembic Limited

Place : Vadodara Date : 12th November, 2021 Chairman

Alembic Limited

Consolidated Cash Flow Statement for Half Year ended 30th September, 2021

		Rs In Lakhs
	For the Half Year	For the Half Year
	Ended on 30th	Ended on 30th
Particulars	September, 2021	September, 2020
	(Unaudited)	(Unaudited)
A CASH FLOW FROM OPERATING ACTIVITIES:
Net Profit before tax	8,774	665
Add:
Depreciation	228	189
Interest charged	22	17
(Gain)/ Loss on sale of Property, Plant and Equipments	(14)	(6)
Sundry balances written back (Net)	(62)	-
Other Non cash items	(170)	(116)
Less:
Interest Income	(37)	(39)
Dividend Income	(7,852)	(38)
Operating Profit before change in working capital	889	672
Working capital changes:
Add / (Less) :
(Increase)/ Decrease in Inventories	(1,525)	(348)
(Increase)/ Decrease in Trade Receivables	338	(395)
(Increase)/ Decrease in Other Asset	(13)	(35)
(Increase)/ Decrease in Financial Asset	41	(457)
Increase/ (Decrease) in Trade Payables	233	131
Increase/ (Decrease) in Financial Liabilities	74	(112)
Increase/ (Decrease) in Other Liabilities	(242)	824
Increase/ (Decrease) in Provisions	21	49
Cash generated from operations	(185)	328
Add / (Less) :
Direct taxes paid (Net of refunds)	(979)	(55)
Net cash inflow from operating activities (A)	(1,164)	273
B CASH FLOW FROM INVESTING ACTIVITIES:
Add:
Proceeds from sale of Property, Plant and Equipments	14	6
Proceeds from sale/ redemption of Investments	2,634	9,579
Interest received	37	39
Dividend received	7,852	38
Less:	10,537	9,662
Purchase of PPE and Investment Property/increase in CWIP and Capital Advances	1,310	703
Purchase of Investments (Net)	7,815	13,248
Increase in Restricted Bank Balances other than Cash & Cash Equivalents	7	22
	9,131	13,974
Net cash inflow from Investing activities (B)	1,406	(4,312)
C CASH FLOW FROM FINANCING ACTIVITIES:
Add:
Net increase/(decrease) in working capital demand loans	(25)	41
Less:
Dividends paid (including distribution tax)	507	1,518
Interest and other finance costs	22	17
	529	1,535
Net cash inflow from Financing activities ( C)	(554)	(1,494)
I. Net (decrease)/ Increase in cash and cash equivalents (A+B+C)	(312)	(5,533)
11. Cash and cash equivalents at the beginning of the period	589	5,830
	277	297
111. Cash and cash equivalents at the end of the period
IV. Cash and cash equivalents at the end of the period
Balances with Bank	275	295
Cash on Hand	2	2
Cash and cash equivalents	277	297

For Alembic Limited

Chirayu Amin Chairman

ALEMBIC LIMITED CIN:L26100GJ1907PLC000033 Regd.Office: Alembic Road, Vadodara 390 003 Ph:0265 2280550 www.alembiclimited.com Email:alembic.investors@alembic.co.in

Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021

	Rs in Lakhs
			Quarter Ended		Half Year Ended	Year Ended
Sr.		30.09.2021				30.06.2021 30.09.2020 30.09.2021 30.09.2020 31.03.2021
No.	Particulars				(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)		(Audited)
	1 Revenue from Operations	1,909	2,039	1,649	3,948	2,958	7,230
	2 Other Income	8,140	196	269	8,336	550	997
	3 Total Income	10,049	2,235	1,918	12,284	3,509	8,227
	4 Expenses
	Cost of Materials Consumed	170	234	310	404	563	1,177
	Cost of Construction	252	248	101	500	101	1,286
	Changes in Inventories of Finished Goods and WIP	65	304	64	369	136	(239)
	Employee Benefit Expenses	559	547	579	1,106	1,199	2,260
	Finance Costs	9	7	6	16	12	27
	Depreciation and amortisation expense	106	104	97	210	189	391
	Other Expenses	616	319	356	936	652	1,673
	Total Expenses	1,776	1,764	1,512	3,540	2,853	6,575
	5 Profit Before Tax	8,272	471	407	8,744	656	1,652
	6 Tax Expenses
	Current Tax	889	88	91	977	103	290
	Deferred Tax	44	8	(2)	52	30	31(6)
	Short/ (Excess) Provision of earlier years	-	-	-	-	-	1,336
	7 Net Profit after tax for the Period	7,340	375	317	7,715	524
	8 Other Comprehensive Income					13,144	39,035
	(i) Items that will not be reclassified to Profit or (Loss)	8,039	(5,392)	9,392	2,647
	(ii) Income tax relating to items that will not be reclassified to			(1,071)	(291)	(1,495)	(4,458)
	Profit or (Loss)	(914)	624
	9 Total Comprehensive lncome/(Loss) for the Period	14,465	(4,394)	8,638	10,071	12,173	35,913
	10 Paid up Equity Share Capital (Face Value of Rs 2/- per share)	5,135.64	5,135.64	5,135.64	5,135.64	5,135.64	5,135.64
	11 Other Equity (excluding Revaluation Reserve)						33,256
	12 Earnings per equity share (FV Rs. 2/- per share)	2.86	0.15	0.12	3.00	0.20	0.52
	Basic & Diluted (In Rs.)

	Alembic Limited
	Segment wise Standalone Revenue and Results						R s. I n Lakh sYear Ended
Sr.			Quarter Ended			Half Year Ended
No.	Particulars		30.09.2021 30.06.2021 30.09.2020 30.09.2021 30.09.2020 31.03.2021
			(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)				(Audited)
	1 Segment Revenue
	Revenue from Operations
	a. Active Pharmaceutical Ingredients Business	815	1,069	842	1,884	1,569	2,849
	b. Real Estate Business	1,094	969	807	2,064	1,389	4,381
	Total Income from Operations (Net)	1,909	2,039	1,649	3,948	2,958	7,230
	2 Segment Results {Profit(+)/ loss(-) before Taxes and interest from each
	segment)
	a. Active Pharmaceutical Ingredients Business	83	141	4	224	(48)	(128)
	b. Real Estate Business	246	264	299	510	392	1,250
	Total	329	406	303	734	345	1,122
	Unallocable Income and Expenditure
	(i) Interest Expense	(9)	(7)	(6)	(16)	(12)	(27)
	(ii) Dividend Income and Gain/(loss) on Fair Value Change of Financial Asset	7,949	69	(9)	8,018	143	115
	(iii)' Other Income/ (Expense)	4	4	·118	8	181	442
	Total Profit Before Tax	8,272	471	407	8,744	656	1,652
	3 Segment Assets
	a. Active Pharmaceutical Ingredients Business	14,824	15,115	14,876	14,824	14,876	15,445
	b. Real Estate Business	22,953	21,710	15,240	22,953	15,240	20,284
	c. Unallocated	65,794	51,836	36,313	65,794	36,313	57,917
	Total	1,03,571	88,661	66,429	1,03,571	66,429	93,645
	4 Segment liabilities
	a. Active Pharmaceutical Ingredients Business	1,825	1,896	1,766	1,825	1,766	1,712
	b. Real Estate Business	4,486	4,434	4,027	4,486	4,027	4,594
	c. Unallocated	5,021	4,043	1,694	5,021	1,694	4,658
	Total	11,332	10,373	7,487	11,332	7,487	10,963

Notes:

1 The above results have been reviewed by Statutory Auditors, recommended by Audit Committee and approved by the Board of Directors of the Company.

2 Theprevious quarter's/ year's figures h.ave been regrouped/ rearranged wherever necessary to make it comparable with the current quarter/ year.

Chirayu Amin Chairman

Alembic Limited

Statement of Standalone Assets and Liabilities		Rs in Lakhs
	As at 30th	As at 31st
Particulars	September, 2021	March, 2021
	{Unaudited)	(Audited)
ASSETS
Non-Current Assets		13,369
(a) Property, Plant and Equipments	13,3S4
(b) Capital Work-in-Progress	97	584
(c} Investment Property	14,432	12,744
(d) Financial Assets
(i) Investments	59,225	56,550
(ii) Others	313	352
(e} Other Non-Current Assets	-87,420	8583,684
Current Assets
(a) Inventories	6,953	5,428
(b) Financial Assets
(i} Investments	6,865	1,568
(ii} Trade Receivables	972	1,310
(iii) Cash and Cash Equivalents	229	578
(iv} Bank Balances other than included in (iii} above	75	69
(v) Others	92	80
(c) Other Current Assets	965	925
(d) Current Tax Assets (Net)	-	5
	16,151	9,962
TOTAL -ASSETS	1,03,571	93,645
EQUITY AND LIABILITIES
Equity
(a) Equity Share Capital	5,136	5,136
(b) Other Equity	87,104	77,546
	92,239	82,682
Liabilities
Non-Current Liabilities
(a) Financial Liabilities
[i] Other Financial Liabilities	397	384
(b) Provisions	122	83
(c) Deferred Tax Liability (Net)	5,0015,521	4,6585,125
Current Liabilities
(a) Financial Liabilities
(i) Borrowings	3	28
(ii) Trade Payables
a) total outstanding dues of Micro and Small Enterprises	109	163
b) total outstanding dues of creditors other than Micro and Small Enterprises	1,833	1,571
(iii) Other Financial Liabilities	352	346
(b} Other Current Liabilities	2,418	2,665
(c) Provisions	1,077	1,066
(d} Current Tax Liabilities (Net)	20	-
	5,812	5,839
TOTAL - EQUITY AND LIABILITIES	1,03,571	93,645

For Alembic Limited

Chirayu Amin

Chairman

Alembic Limited

	Standalone Cash Flow Statement for Half Year ended 30th September, 2021
--	-------------------------------------------------------------------------

For the Half Year For the Half YearEnded on 30thEnded on 30thParticularsSeptember, 2021 September, 2020(Unaudited)(Unaudited)A CASH FLOW FROM OPERATING ACTIVITIES:Net Profit before tax8,744656Add:Depreciation210189Interest charged1612(Gain)/ Loss on sale of Property, Plant and Equipments(14)(6)Sundry balances written back (Net)(62)-Other Non cash items(167)Less:Interest Income(40)(40)(7,852)(38)Dividend IncomeOperating Profit before change in working capital834657Working capital changes:Add / (Less) :(Increase)/ Decrease in Inventories(1,525)(348)(Increase)/ Decrease in Trade Receivables338(441)(Increase)/ Decrease in Other Asset(40)7(Increase)/ Decrease in Financial Asset(457)28Increase/ (Decrease) in Trade Payables270(13)Increase i (Decrease) in Financial Liabilities(72)13Increase/ (Decrease) in Other Liabilities(247)821Increase/ (Decrease) in Provisions2149(308)202Cash generated from operationsAdd/ (Less) :Direct taxes paid (Net of refunds)(952)(1,260)165Net cash inflow from operating activities (A)B CASH FLOW FROM INVESTING ACTIVITIES:Add:Proceeds from sale of Property, Plant and Equipments146Proceeds from sale/ redemption of Investments2,5849,579Interest received40407,85238Dividend received9,66310,491Less:Purchase of PPE and Investment Property/increase in CWIP and Capital Advances1,310504Purchase of Investments (Net)7,71513,248Increase in Restricted Bank Balances other than Cash & Cash Equivalents7229,031Net cash inflow from Investing activities (8)1,459C CASH FLOW FROM FINANCING ACTIVITIES:Add:Net increase/(decrease) in working capital demand loans(25)23Less:Dividends paid (including distribution tax)1,518507Interest and other finance costs16121,530523(1,507)(548)Net cash inflow from Financing activities (C)I. Net (decrease)/ Increase in cash and cash equivalents (A+B+C)(5,454)(349)5785,730II. Cash and cash equivalents at the beginning of the period229276Ill. Cash and cash equivalents at the end of the periodIV. Cash and cash equivalents at the end of the period227274Balances with Bank22Cash on Hand229276Cash and cash equivalents		Rs In Lakhs
		(116)
		(38)
		13,774
		(4,111)

For Alembic Limited

Chirayu Amin Chairman

CNK & ASSOCIATES LLP CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on Unaudited Consolidated Quarterly and year to date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Alembic Limited

• 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Alembic Limited ("the Parent") and its subsidiary (the Parent and its subsidiary together referred to as "the Group") for the quarter ended 30th September, 2021 and year to date from 01st April, 2021 to 30th September, 2021 ("the Statement") attached herewith, being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34, ("Ind AS 34") "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statements based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent 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 statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the Securities Exchange Board of India under Regulation 33 (8) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, to the extent applicable

• 1. The statement includes results of the following entities: i. Alembic City Limited (Subsidiary)
  • ii. Alembic Pharmaceuticals Limited (Associate)

VADODARA: The Nirat, 3rd Floor, 18, Windward Business Park, Behind Emerald One Complex, In The Lane of Dr. Prashant Buch, Jetalpur Road, Vadodara - 390 007 • Tel: +91 265 234 3483, +91 265 235 4359 • Email : vadodara@cnkindia.com

MUMBAI - HO : 3rd Floor, Mistry Bhavan, Dinshaw Vachha Road, Churchgate, Mumbai 400 020, India.• Tel: +91 22 6623 0600

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the financial result of a subsidiary included in the unaudited consolidated financial results, whose unaudited financial results reflect total assets of Rs. 4,170.75 lakhs as at 30th September, 2021, total revenue of Rs. 172.28 lakhs and 338.09 lakhs, total net loss after tax of Rs. 19.30 Lakhs and 46.37 lakhs and total comprehensive loss of Rs. 19.35 Lakhs and Rs. 46.49 lakhs for the quarter ended 30th September, 2021 and the period ended 011 that day respectively and net cash outflows/inflows of Rs.36.77 lakhs. The unaudited consolidated financial results also include the Group's share of net profit after tax of Rs. 4,658.09 Lakhs and Rs. 9,180.08 lakhs and total comprehensive income of Rs. 4767.45 lakhs and Rs. 9,213.88 lakhs for the quarter ended so- September, 2021 and the period ended on that day respectively, as considered in the statement, in respect of an associate. These financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of a subsidiary and associate, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the unaudited consolidated quarterly financial results is not modified with respect of the above matter.

For CNK & Associates LLP Chartered Accountants Firm Registration No. 101961W/W-100036

Place : Vadodara Date : 12 1h November, 2021 UDIN : 21042005AAAAR09486

CNK & ASSOCIATES LLP CHARTERED ACCOUNTANTS

J

Independent Auditor's Review Report on Unaudited Standalone Quarterly and year to date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Alembic Limited

• 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial results of Alembic Limited ("the Company") for the quarter ended 30 1 hSeptember, 2021 and year to date from 01 st April, 2021 to 301 hSeptember, 2021 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which 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, ("Ind AS 34") "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statements based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent 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 statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited standalone financial results prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which, it is to be disclosed, or that it contains any material misstatement.

For CNK & Associates LLP Chartered Accountants Firm Registration No. 101961W/W-100036

Alok Shah Partner Place : Vadodara Date : 12 1 hNovember, 2021 UDIN: 21042005AAAARP9622