Beardsell Limited — Interim / Quarterly Report 2022

Aug 13, 2021

Regd. Office: 47, Greams Road, CHENNAI - 600 006. (INDIA) : 2829 32 96, 2829 09 00 $|S|$ : 33AAACB1429P2ZP GSTIN CIN No. : L65991TN1936PLC001428 E-mail : ho@beardsell.co.in Website: www.beardsell.co.in

13th August, 2021

Sec: August : 2021

Scrip Code: BEARDSELL

The Listing Manager, National Stock Exchange of India Limited, Exchange Plaza Bandra Kurla Complex, Bandra (E) Mumbai-400 051

The Listing Manager BSE Limited Registered Office: Floor 25 P J Towers, Dalal Street, Mumbai - 400 001

Scrip Code: 539447

Dear Sir,

Sub: Outcome of the Meeting held on 13th August, 2021

We are pleased to inform you that the Board of Directors at its Meeting held today (13th August, 2021), which commenced at 13.00 P.M. and concluded at 16.05 P.M., have considered and approved the followings.

$\triangleright$ The Board has approved the Statement of Un-Audited Standalone and Consolidated Financial Results for the Quarter Ended 30th June 2021, duly certified by the auditors [M/s. S.R. BATLIBOI & ASSOCIATES LLP, Chartered Accountants (ICAI Firm registration number: 101049W/E300004)] of our Company.

Kindly take on record the above intimation

Thanking you

Yours faithfully, For BEARDSELL LIMITED

K Murali

Company secretary

Encl: As above

6th Floor – "A" Block Tidel Park, No. 4, Rajiv Gandhi Salai Taramani, Chennai – 600 113, India Tel: +91 44 6117 9000

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

Review Report to The Board of Directors Beardsell Limited

• 1. We have reviewed the accompanying statement of Unaudited Standalone Financial Results of Beardsell Limited (the "Company") for the quarter ended June 30, 2021 (the "Statement") 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 (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in 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 Statement 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 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.
• 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 the 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. Emphasis of Matter

We draw attention to Note d of the Statement which describes the uncertainties with respect to impact of Covid-19 pandemic, and its possible consequential implications, on the carrying value of Company's assets as at June 30, 2021.

Our conclusion is not qualified in respect of this matter.

6. Other Matter

The accompanying Statement includes the Company's share of net loss of Rs. 6 lakhs for the quarter ended June 30, 2021, on its investment in a partnership firm, based on interim financial results and other financial information reviewed by their independent auditors. The independent auditor's reports on interim financial results of this partnership firm have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the Company's share of net loss from the firm is based solely on the report of such auditors.

Our conclusion is not qualified in respect of this matter.

For S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 per Aravind K Partner Membership No.: 221268 UDIN: 21221268AAAAEY2000 Place: Chennai Date: August 13, 2021 Digitally signed by KRISHNAN ARAVIND DN: cn=KRISHNAN ARAVIND, c=IN, o=Personal, email=aravind.krishnan@srb.in Date: 2021.08.13 14:57:10 +05'30' KRISHNAN ARAVIND

BEARDSELL LIMITED

REGISTERED OFFICE: 47, GREAMS ROAD, CHENNAI 600 006

CIN: L65991TN1936PLC001428

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021

Rupees in lakhs except EPS information and unless otherwise stated

		Quarter ended
Particulars	30.06.202131.03.2021	30.06.2020	Year ended31.03.2021
	Unaudited	Refer note (b)	Unaudited	Audited
1. Income
Revenue from contracts with customers	3,231	4,340	1,424	12,063
Other income	69	39	15	104
Total income	3,300	4,379	1,439	12,167
2. Expenses
Cost of materials consumed	2,257	2,697	734	7,067
Purchase of stock-in-trade	249	385	56	1,003
Changes in inventories of finished goods, work in progress and stock-in-trade	(196)	11	60	21
Employee benefits expense	303	374	303	1,297
Depreciation and amortisation expense	117	112	123	485
Finance costs	100	95	100	430
Other expenses	446	524	403	1,818
Total expenses	3,276	4,198	1,779	12,121
3.Profit / (Loss) before tax (1 - 2)	24	181	(340)	46
4. Tax expense
Current tax	8	61	-	131
Current tax - earlier years	-	33	-	33
Deferred tax	(2)	(14)	(16)	(95)
Total tax expense	6	80	(16)	69
5. Profit / (Loss) after tax (3 - 4)	18	101	(324)	(23)
6. Other comprehensive income / (loss)
Items not to be reclassified to profit or loss in subsequent periods
Remeasurement gains / (losses) on defined benefit plans (net)	(5)	(22)	1	(19)
Income tax effect	1	6	-	5
Total	(4)	(16)	1	(14)
7. Total comprehensive income (5 + 6)	14	85	(323)	(37)
Paid-up Equity Share Capital (Face value of Rs. 2/- each)	562	562	562	562
Other equity				3,428
Earning Per Share (EPS) of Rs.2/- each (Rs.)		Not Annualised
Basic	0.06	0.36	(1.15)	(0.08)
Diluted	0.06	0.36	(1.15)	(0.08)
See accompanying notes to the unaudited standalone financial results

BEARDSELL LIMITED REGISTERED OFFICE: 47, GREAMS ROAD, CHENNAI 600 006 CIN: L65991TN1936PLC001428

UNAUDITED STANDALONE SEGMENT WISE FINANCIAL RESULTS

Reporting of Segment wise Standalone Revenue, Results, Assets and Liabilities for the quarter ended June 30, 2021

	Quarter ended			Year ended
Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
	Unaudited	Refer note (b)	Unaudited	Audited
Segment Revenue
Insulation	2,961	3,963	1,345	10,978
Trading	270	377	79	1,085
Total Revenue from contracts with customers	3,231	4,340	1,424	12,063
Segment Results
Insulation	205	229	(105)	658
Trading	22	47	(22)	114
Total Segment Results	227	276	(127)	772
Less: Finance costs	(100)	(95)	(100)	(430)
Less: Other un-allocable expenditure net of un-allocable income	(103)	-	(113)	(296)
Profit / (Loss) before tax	24	181	(340)	46
Segment Assets
Insulation	9,372	9,442	8,673	9,442
Trading	397	488	614	488
Un-allocable corporate assets	1,421	1,193	857	1,193
Total Segment Assets	11,190	11,123	10,144	11,123
Segment Liabilities
Insulation	3,795	4,271	3,109	4,271
Trading	167	94	236	94
Un-allocable corporate liabilities	3,224	2,768	3,066	2,768
Total Segment Liabilities	7,186	7,133	6,411	7,133

In accordance with Ind AS 108 - "Operating Segment Reporting" and evaluation by the Chief Operating Decision Maker, operating segments of the Company consists of Insulation and Trading.

Segment revenue and expenses:

Segment revenue and expenses represent relevant amounts that are either directly attributable to individual segment or are attributable to individual segment on a reasonable basis.

Segment assets and liabilities:

Segment assets and liabilities include all relevant amounts pertaining to a segment, which are directly attributable to individual segments or are attributable to individual segments on a reasonable basis.

Rs. In Lakhs

NOTES TO UNAUDITED STANDALONE FINANCIAL RESULTS:

a) The unaudited Standalone financial results for the quarter ended June 30, 2021, which have been prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 as amended, have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on August 13, 2021. The statutory auditors have conducted a limited review of the standalone financial results for the quarter ended June 30, 2021.

b) The standalone financial results for the quarter ended March 31, 2021 are balancing figures between audited figures in respect of the full financial years and the unaudited published year-to-date figures upto December 31, 2020, being the date of the end of the third quarter for the financial year which were subjected to limited review.

c) The unaudited standalone financial results for the quarter ended June 30, 2021 also includes the loss of Rs 6 lakhs from the controlled entity - Saideep Polytherm (Partnership firm) (quarter ended March 31, 2021 profit of Rs.18 lakhs and June 30, 2020 - loss of Rs.59 lakhs.) under other expenses.

d) The Company has considered the possible effects that may result from COVID-19 in the preparation of these standalone financial results including the recoverability of carrying amounts of financial and nonfinancial assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of COVID-19, the Company has, at the date of approval of these standalone financial results, used internal and external sources of information which are relevant and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's financial results may differ from that estimated as at the date of approval of these standalone financial results. However, the impact assessment of COVID-19 is a continuing process, given the uncertainties associated with its nature and duration. The Company will continue to monitor any material changes to future economic conditions and the consequent impact on its business, if any and make any necessary adjustments in the relevant financial period.

e) The code on Social Security, 2020 ('The Code") relating to employee benefits during employment and post-employment benefits, received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified. The Ministry of Labour and Employment has also released draft rules thereunder on November 13, 2020 and has invited suggestions from stakeholders, which are under consideration by the Ministry. The Company will evaluate the rules, assess the impact, if any, and account for the same once the rules are notified and become effective.

f) The above financial results are also available on the stock exchange websites www.bseindia.com, www.nseindia.com and on our website www.beardsell.co.in.

g) Previous periods' figures have been re-grouped/ re-classified, where necessary to conform to the current period's classification/ presentation.

For Beardsell Limited

ANUMOLU AMRITH Digitally signed by ANUMOLU AMRITH Date: 2021.08.13 14:38:55 +05'30'

Place : Hyderabad Amrith Anumolu Date : August 13, 2021 Executive Director

6th Floor – "A" Block Tidel Park, No. 4, Rajiv Gandhi Salai Taramani, Chennai – 600 113, India Tel: +91 44 6117 9000

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

Review Report to The Board of Directors Beardsell Limited

• 1. We have reviewed the accompanying statement of Unaudited Consolidated Financial Results of Beardsell Limited (the "Holding Company") and its subsidiary and controlled entity (the Holding Company, its subsidiary and controlled entity together referred to as "the Group"), for the quarter ended June 30, 2021 (the "Statement") attached herewith, 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 (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in 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 Statement based on our review.
• 1. (a) 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 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.
  • (b) We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 31, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
• 1. The statement includes the results of following entities:
  • a. Beardsell Limited
  • b. Sarovar Insulation Private Limited Subsidiary
  • c. Saideep Polytherm Controlled entity
• 1. Based on our review conducted and procedures performed as stated in Paragraph 3 above and based on the consideration of the review reports of other auditors of the Subsidiary and controlled entity referred to in Paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the 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. Emphasis of matter

We draw attention to Note d of the Statement which describes uncertainties with respect to impact of Covid-19 pandemic, and its possible consequential implications, on the carrying value of Group's assets as at June 30, 2021.

Our conclusion is not qualified in respect of this matter.

1. Other matter

The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of a subsidiary and controlled entity, whose unaudited interim financial results include total revenues of Rs. 624.24 lakhs and total net loss after tax of Rs. 14.91 lakhs and total comprehensive loss of Rs. 14.91 lakhs for the quarter ended June 30, 2020 as considered in the Statement which have been reviewed by their respective independent auditors.

The independent auditor's reports on interim financial results of these entities 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 in respect of the subsidiary and controlled entity based solely on the report of such auditors and procedures performed by us as stated in paragraph 3(b) above.

Our conclusion is not qualified in respect of this matter.

For S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004

Digitally signed by KRISHNAN ARAVIND DN: cn=KRISHNAN ARAVIND, c=IN, o=Personal, email=aravind.krishnan@srb.in Date: 2021.08.13 15:08:43 +05'30' KRISHNAN ARAVIND

per Aravind K Partner Membership No.: 221268 UDIN: 21221268AAAAEZ4856 Place: Chennai Date: August 13, 2021

BEARDSELL LIMITED

REGISTERED OFFICE: 47, GREAMS ROAD, CHENNAI 600 006

CIN: L65991TN1936PLC001428

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021

	Rupees in lakhs except EPS information and unless otherwise statedQuarter ended
Particulars	30.06.2021	31.03.2021	30.06.2020	Year ended31.03.2021
	Unaudited	Refer note (c)	Unaudited	Audited
1. Income
Revenue from contracts with customers	3,442	4,715	1,573	13,225
Other income	66	37	11	90
Total income	3,508	4,752	1,584	13,315
2. Expenses
Cost of materials consumed	2,281	2,774	737	7,309
Purchase of stock-in-trade	249	384	56	1,002
Changes in inventories of finished goods, work in progress and stock-in-trade	(203)	(1)	104	18
Employee benefits expense	348	427	331	1,464
Depreciation and amortisation expense	149	143	152	607
Finance costs	120	119	125	527
Other expenses	550	758	422	2,355
Total expenses	3,494	4,604	1,927	13,282
3.Profit / (Loss) before tax (1 - 2)	14	148	(343)	33
4. Tax expense
Current tax	8	61	-	131
Current tax - earlier years	-	33		33
Deferred tax	(2)	(9)	(16)	(90)
Total tax expense	6	85	(16)	74
5. Profit / (Loss) after tax (3 - 4)	8	63	(327)	(41)
Profit / (loss) for the year/period attributable to:
Owners of the Company	8	63	(327)	(41)
Non-controlling interest	-	-	-	-
6. Other comprehensive income / (loss)
Items not to be reclassified to profit or loss in subsequent periods
Remeasurement gains / (losses) on defined benefit plans (net)	(5)	(22)	1	(19)
Income tax effect	1	6	-	5
Total	(4)	(16)	1	(14)
Other comprehensive income / (loss) for the year attributable to:
Owners of the Company	(4)	(16)	1	(14)
Non-controlling interest	-	-	-	-
7. Total comprehensive income (5 + 6)	4	47	(326)	(55)
Total comprehensive income / (loss) for the year attributable to:
Owners of the Company	4	47	(326)	(55)
Non-controlling interest	-	-	-	-
Paid-up Equity Share Capital (Face value of Rs. 2/- each)	562	562	562	562
Other equity				3,386
Earning Per Share (EPS) of Rs.2/- each (Rs.)		Not Annualised
Basic	0.03	0.22	(1.16)	(0.15)
DilutedSee accompanying notes to the unaudited consolidated financial results	0.03	0.22	(1.16)	(0.15)

BEARDSELL LIMITED REGISTERED OFFICE: 47, GREAMS ROAD, CHENNAI 600 006 CIN: L65991TN1936PLC001428

UNAUDITED CONSOLIDATED SEGMENT WISE FINANCIAL RESULTS

Reporting of Segment wise Consolidated Revenue, Results, Assets and Liabilities for the quarter ended June 30, 2021

				Rs. In Lakhs
	Quarter ended		Year ended
Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
	Unaudited	Refer note (c)	Unaudited	Audited
Segment Revenue
Insulation	3,172	4,338	1,494	12,140
Trading	270	377	79	1,085
Total Revenue from contracts with customers	3,442	4,715	1,573	13,225
Segment Results
Insulation	215	220	(83)	742
Trading	22	47	(22)	114
Total Segment Results	237	267	(105)	856
Less: Finance costs	(120)	(119)	(125)	(527)
Less: Other un-allocable expenditure net of un-allocable income	(103)	-	(113)	(296)
Profit / (Loss) before tax	14	148	(343)	33
Segment Assets
Insulation	10,417	10,628	10,091	10,628
Trading	397	488	614	488
Un-allocable corporate assets	1,421	1,193	857	1,193
Total Segment Assets	12,235	12,309	11,562	12,309
Segment Liabilities
Insulation	4,891	5,499	4,555	5,499
Trading	167	94	236	94
Un-allocable corporate liabilities	3,224	2,768	3,066	2,768
Total Segment Liabilities	8,282	8,361	7,857	8,361

In accordance with Ind AS 108 - "Operating Segment Reporting" and evaluation by the Chief Operating Decision Maker, operating segments of the Company consists of Insulation and Trading.

Segment revenue and expenses:

Segment revenue and expenses represent relevant amounts that are either directly attributable to individual segment or are attributable to individual segment on a reasonable basis.

Segment assets and liabilities:

Segment assets and liabilities include all relevant amounts pertaining to a segment, which are directly attributable to individual segments or are attributable to individual segments on a reasonable basis.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL RESULTS:

a) The unaudited Consolidated financial results for the quarter ended June 30, 2021, which have been prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 as amended, have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on August 13, 2021. The statutory auditors have conducted a limited review of the consolidated financial results for the quarter ended June 30, 2021.

b) The unaudited consolidated financial results includes the results of the Company, its subsidiary held directly - Sarovar Insulation Private Limited and controlled entity - Saideep Polytherm (Partnership firm) (together the 'Group').

c) The consolidated financial results for the quarter ended March 31, 2021 are balancing figures between audited figures in respect of the full financial years and the unaudited published year-to-date figures upto December 31, 2020, being the date of the end of the third quarter which were subjected to limited review.

d) The Group has considered the possible effects that may result from COVID-19 in the preparation of these consolidated financial results including the recoverability of carrying amounts of financial and nonfinancial assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of COVID-19, the Group has, at the date of approval of these consolidated financial results, used internal and external sources of information which are relevant and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Group's financial results may differ from that estimated as at the date of approval of these consolidated financial results. However, the impact assessment of COVID-19 is a continuing process, given the uncertainties associated with its nature and duration. The Group will continue to monitor any material changes to future economic conditions and the consequent impact on its business, if any and make any necessary adjustments in the relevant financial period.

e) The code on Social Security, 2020 ('The Code") relating to employee benefits during employment and post-employment benefits, received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified. The Ministry of Labour and Employment has also released draft rules thereunder on November 13, 2020 and has invited suggestions from stakeholders, which are under consideration by the Ministry. The Group will evaluate the rules, assess the impact, if any, and account for the same once the rules are notified and become effective.

f) The above financial results are also available on the stock exchange websites www.bseindia.com, www.nseindia.com and on our website www.beardsell.co.in.

g) Previous periods' figures have been re-grouped/ re-classified, where necessary to conform to the current period's classification/ presentation.

For Beardsell Limited ANUMOLU AMRITH Digitally signed by ANUMOLU AMRITH Date: 2021.08.13 15:03:26 +05'30'

Place : Hyderabad Amrith Anumolu Date : August 13, 2021 Executive Director

Regd. Office: 47, Greams Road, CHENNAI - 600 006. (INDIA) : 2829 32 96, 2829 09 00 $\lceil e \rceil$ GSTIN : 33AAACB1429P2ZP CIN No. : L65991TN1936PLC001428 E-mail : ho@beardsell.co.in Website: www.beardsell.co.in

13th August, 2021

Sec: August : 2021

The Listing Manager, National Stock Exchange of India Limited, Exchange Plaza Bandra Kurla Complex, Bandra (E) Mumbai-400 051

Scrip Code: BEARDSELL

The Listing Manager BSE Limited Registered Office : Floor 25 P J Towers, Dalal Street, Mumbai - 400 001

Scrip Code: 539447

Dear Sir,

Sub: Declaration pursuant to Regulation 33(3Xd) of SEBI (Listing obligations & Disclosure Requirements) Regulations, 2015

In compliance with the provisions of Regulation 33(3Xd) of SEBI (Listing and Obligations & Disclosure Requirements) Regulations, 2015, as amended by the SEBI (Listing and Obligations & Disclosure Requirements) (Amendment) Regulations, 2016 and SEBI Circular No. CIR/ CFD/CMDI 561 2016, we hereby declare that M/s.S.R.BATLIBOI& ASSOCIATES LLP, Chartered Accountants (ICAI Firm registration number: 101049W/E300004) Auditors of the Company, have issued an Limited View Report with unmodified opinion on the Un-Audited Financial Results of the Company (Standalone & Consolidated) for the Quarter ended, 30th June, 2021.

Kindly take on record the above intimation

Thanking you

Yours faithfully, For BEARDSELL LIMITED

K Murali Company secretary