Bhansali Engineering Polymers Ltd. — Annual Report 2021

Apr 18, 2021

b~ANsAli ENGiNEERiNG polyMERs liMiTEd

CIN : L27100MH1984PLC032637

Registered Office : 401, 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61 /62/63/64 • Fax : (91-22) 2621 6077 • E-mail : abstron@bhansaliabs.com • Website: www.bhansaliabs.com

BEPL/SEC/2021/43

18th April, 2021

To	To
The BSE Limited	The National Stock Exchange of India Ltd.
Corporate Relationship Department	Exchange Plaza, C-1, Block G,
Phiroze Jeejeebhoy Towers,	Bandra-Kurla Complex,
Dalal Street,	Sandra (E),
400 00 1 Mumbai -	Mumbai- 400 051.
Security Code: 500052	Security Code: BEPL

Sub: Outcome of Board Meeting- Sunday, 18th April, 2021.

Dear Sir/Madam,

Pursuant to Regulation 30, 33 and 42 read with Schedule III and other applicable Regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please be informed that the Board of Directors of the Company at its meeting held today, inter alia, has:

• 1. Approved the Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended 31st March, 2021 and took note of the Audit Report(s) issued by the Statutory Auditors of the Company;
• 1. Recommended a dividend of Re.l (100 %) per Equity Share (of the face value of Re.1 each) for the financial year ended 31st March, 2021, which is subject to approval of the shareholders of the Company in the ensuing 37th Annual General Meeting and also subject to deduction of tax at source;
• 1. Convening of 37th Annual General Meeting of the Company on Wednesday, 30th June, 2021;
• 1. Fixed the date of closure of Register of Members and Share Transfer Books of the Company from Thursday, 24th June, 2021 to Wednesday, 30th June, 2021 (both days inclusive) for the purpose of holding the 37th AGM and for payment of Dividend to the Equity Shareholders;
• 1. Fixed, Wednesday, 23rd June, 2021 as the Record date for determining entitlement of shareholders to receive the dividend for financial year ended 31st March, 2021. The Dividend, if approved by the shareholders at the ensuing 37th AGM, will be paid on or before 25th July, 2021.

Further, we would like to state that M/s Azad Jain & Co., Chartered Accountants, Mumbai (FRN - 006251C), Statutory Auditors of the Company, have issued Audit Reports with unmodified opinion on the Financial Results for the quarter and year ended 31st March, 2021.

b~ANsAli ENGiNEERiNG polyMERS liMiTEd

CIN : L27100MH1984PLC032637

Registered Office : 401, 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. TeL: (91-22) 2621 6060/61 /62/63/64 • Fax : (91-22) 2621 6077 • E-mail : abstron@bhansaliabs.com o Website : www.bhansaliabs.com

The Board meeting commenced at 5:30pm and concluded at 7.50 pm.

We hereby enclose the following:

• 1. Audit Report on Financial Results (Standalone and Consolidated) for the quarter and financial year ended 31st March, 2021, issued by the Statutory Auditors of the Company;
• 1. Copy of Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended 31st March, 2021; and
• 1. Declaration from the Executive Director cum CFO with respect to unmodified opinion on Financial Results, as received from the Statutory Auditors of the Company.

You are requested to take the same on record.

Thanking you,

Yours faithfully, For BhansaU Engineering Polymers Limited

Ashwin ~ M. Patel

Company Secretary & GM (Legal)

Encl: As above

To, The Board of Directors of Bhansali Engineering Polymers Limited

Report on the Audit of the Standalone Annual Financial Results

Opinion

We have audited the accompanying Statement of standalone financial results of BHANSALI ENGINEERING POLYMERS LIMITED ('the Company') for the quarter and year ended 31st March, 2021 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended ('the Regulation').

In our opinion and to the best of our information and according to the explanations given to us, the statement:

• a. is presented in accordance with the requirements of Regulation 33 of the Regulations; and
• b. gives a true and fair view in conformity with Indian Accounting Standard 34 "Interim Financial Reporting", (Ind AS 34") prescribed under Section 133 of the Companies Act, 2013 (the "Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the quarter and year ended 31st March, 2021.

Basis for Opinion

We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results 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 ("'CAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the !CAl's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's ResponSlbilities for the Standalone Financial Results

This Statement, is the responsibility of the Company's Management and approved by the Board of Directors, has been compiled on the basis of standalom. financial stalt'ments for the year ended 31st March, 2021. The Company's Board of Directors are responsible for the preparation and prt.'Sentation l1f the Standalone Financial Results that give a true and fair view of the net profit and other comprelwnsive income and other financi.1L information in accordance with the recognition and measurement principles laid down in Ind AS J.l, prescribed under Section 133 of the Act, read with ri.>k•vant rules issued thereunder and other accounting principles generally accepted in India and in compliann• with Regul,ltion 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting rl'Cords in accordance with the provisions of the Ac;t for safeguarding the assets of the Company .llld lor prevPnting and detecting frauds and other irregularities; selection and application of appropriate ,K(Ollllling policies; m~king judgments and e~timates that are reasonable and prudent; and the design, implt••m'nt.•tion and maantenance of adequate mter~al financial controls that were operating effectiwly for ensuring tlw acCllmcy and completeness of the accounting

HO: E·HI03, LAKE FLORENCE. LAKE HOMES, OFF ADI SI1ANKARACHARYA MARG, POW AI. MUMSAI. (MAHARASHTRA)· 400076, MOB. 09414167046 401-402, (4TH FLOOR), SHREEJ1 CHAMBERS, 32 .'A. PANCHWATI. UDAIPUR· 313 001 TEL. :0294 • 2428460, 2425529

AZAD ,JAIN &CC). CH/I.H Tt RED ACCOUNT ANTS

records, relevant to the pn-paration and presentation n( llw Sliltldalnnt' Fin.mcial Result~ that give a true and fair view and is free from material misst,,rement, whethl'r due to fraud or error.

In preparing the Standalone Financial Results, the. Boa~d of Directors are responsible for a~sing the Company's ability. to rontinm.• as a going concern, lhsdosmg, as applicable, matters related to going concern and using the going concern oosis 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 financial reporting process of the Company.

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

Our obj«tives are to obtain reasonable assurance about whether the Standalone Financial Results as a whole is 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 this 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 financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such contTols.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
• Conclude on the appropriateness of the Board of Dirertors' use of the going concern basis ot accounting and, based on the audit evidence obtained, wh th~r ,, material uncertainty exists related to events or conditions that may cast significant doubt on thl' ilbility of the Cllmp.•ny to continue as a going concern. If we conclude that a material uncertainty exists, we an• rt•quired to draw attention in Ol~~ auditor ~ ~eport to the related disclosun.>s in the Statement or, jf such !isdo ur~s .u-t' imuhx.p~<\te, to m01.ilty our op1mon. Our conclusions are based on the audit evidence Qbtai1wd up to the d.1te of our auditor's report. However, future events or conditions may causl.' the Company to cease to continue ,,sa going concern.
• Evaluate the overall presentation, structun• and con!t'nt of tlw Stallltalone Hnancial Results, including the disclosures, and whether tlu- Standalone Financial R1•sults n.•pnasent the underlying transactions and events in a maMer that achieves fair presentation.

HO: E-1803, LAKE FLORENCE. LAKE HOMES. OFF ADI SHANKARACHARVA MJ\RG. POW AI, MUMBAI. (MAHARASHTRA)· 400076. MOB . 09414167046 401-402, (4TH FLOOR), SHREEJI CHAMBERS, 32 ·A, PANCHWATI, UDAIPUR- 313 001 TEL. :0294 • 2428460, 2425529

AZAD JAIN &CO. CHARTERED ACCOUNT ANTS

• Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company to express an opinion on the Standalone Financial Results.

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 safeguards.

Other Matter

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

For Azad Jain &t Co

Clulrtered Acco1mtants

Fi~~ "strati n Number: 006251C

r::-·. CA habh Ver(lia

Partner Membership Number: 400600

Place: Mumbai Dated : 18111 April, 2021 UDINNo: 2..1-'(o0600AAftFJAH3~65

1 MUMSAI (MAHARASHTRA)- ⁴⁰⁰⁰⁷⁶MOB. 0941 .. 167048 HO: E-1603. LAKE FLORENCE. LAKE HOMES, OFF ADI SHANKARACHARYA MARG. POWA • · ' -401-402, (4TH FLOOR), SHREEJI CHAMBERS, 32 -A, PANCHWATI, UDAIPUR- 313 001 TEL. :0294 • 2428460, 2425529

bHANsAli ENGiNEERiNG polyMERS liMiTEd

CIN : L271 OOMH1984PLC032637

Registered Office : 401 , 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel.: (91-22) 2621 6060/61 /62/63/64 • Fax : (91-22) 2621 6077 • E-mail : abstron@bhansaliabs.com • Website : www.bhansaliabs.com

	STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021 UNDER IND AS
					( in lakhs) (Except Earning per share)
	STANDALONE
	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
	INCOME
I	Gross Revenue including GST	55,861 .59	48,524.34	29,661 .61	1,52,434.35	1,29,530.37
II	Less:GST Recovered	8,518.88	7,397.25	4,520.98	23,239.60	19,097.35
Ill	Revenue from operations (Net of GST) (I-ll)	47,342.71	41 ,127.09	25,140.63	1,29,194.75	1,10,433.02
IV v	Other Income Total Income (III+IV)	205.38 47,548.09	168.01 41 ,295.10	16.79 25,157.42	1,018.46 1,30,213.21	590.06 1,11 ,023.08
VI	EXPENSES
	(a) Cost of materials Consumed	17,230.24	10,679.23	14,188.32	48,135.66	59,264 .98
	(b) Purchase of stock-in-trade	2,454.27	3,896.52	6,253.98	19,016.00	31 ,881 .99
	(c) Changes in inventories of finished goods,	(50.70)	3,292.21	847.98	1,358.74	(1 ,813.17)
	work-in-progress and stock-in-trade
	(d) Employee benefits expense	2,830.25	2,417.62	(1 .26)	6,797.20	2870.06
	(e) Finance Costs	42.61	13.66	3.28	63.01	11 .23
	(f) Depreciation & amortisation expenses	231 .01	256.52	253.09	1,018.65	951 .77
	i(g) Other expenses	2,938.93	2436.77	2579.27	9226.30	9595.08
	TOTALEXPENSES(atog)	25,676.61	22,992.53	24,124.66	85,615.56	1,02,761 .94
VII	Profit /(Loss) before exceptional and extraordinary items	21,871.48	18,302.57	1,032.76	44,597.65	8,261 .14
	and tax IV - VII
VIII	Exceptional Items	-			-	-
IX	Profit /(Loss) before extraordinary items and tax (VII- VIII)
		21,871 .48	18,302.57	1,032.76	44,597.65	8,261 .14
X	Ex1raordinary items		-			-
	Profit I (Loss) before share of net profit/(loss) of
	investment accounted for using equity method and tax (IX -	21,871 .48	18,302.57	1,032.76	44,597.65	8,261 .14
XI	X)
	Share of net profit/(loss) from Joint venture accounted for using		-	-
XII	the equity method
XIII	Profit I (loss) before tax (XI+ XII)	21,871 .48	18,302.57	1,032.76	44,597.65	8,261 .14
XIV	Tax Expenses
(i)	Current tax	5,495.52	4,682.00	242.32	11 ,177.52	2,050.63
(ii)	Deferred tax	52.50	14.86	16.81	78.82	(471 .95
XV	Profit I (Loss) for the period ( XIII- XIV )	16,323.46	13,605.71	773.63	33,341 .31	6,682.46
XVI	Other Comprehensive Income I (loss) (net of tax) I Total Gomprehens•ve Income 1 (Loss) tor the penod (XV	(49.29	(0.22)	29.38	(46.72	47.67
XVII	+XVI )	16,274.17	13,605.49	803.01	33,294.59	6,730.1 3
XVIII	Paid Up Equity Share Capital	1,659.06	1,659.06	1,659.06	1,659.06	1,659.06
XIX	Earnings per share (of · .1/- each) (not annualised)
(i)	Basic	9.84	8.20	0.47	20.10	4.03
(ii)	Diluted	9.84	8.20	0.47	20.10	4.03
	Notes:	I			I I
1
	The Audited Standalone Financial Results have been prepared in accordance with the recognition and measurement principles provided in Indian Accounting
	Standards (lndAS 34 ), the provisions of the Companies Act, 2013 (the Act), as applicable and guidelines issued by the Securities and Exchange Board of India
	(SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, (SEBI (LODR) Regulations, 2015) as amended.
2	The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meeting held on 18th April,
	2021 .
3	In accordance with Regulation 33 of the SEBI (LODR) Regulations, 2015, the above Audited Standalone Financial Results of the Company are posted on
	Company's website (www.bhansaliabs.com) and on the website of BSE Limited (www.bseindia.com) and the National Stock Exchange of India Limited
	(www.nseindia.com), where the Company's shares are listed.
4	The figures for the quarter ended 31st March, 2021 and 31st March, 2020 are the balancing figures between the audited f1gures in respect of the full financial
	year and the reviewed year-to-date figures up to third quarter of the respective financial year.
5	The Company operates in a single segment namely "Highly Specialized Engineering Thermoplastics"
6	The Board of Directors have recommended dividend of 100% (viz Re 1/- per share having face value of Re.1/- each) subject to approval of shareholders in the
	ensuing Annual General Meeting.
7	Figures for the previous Period/ Year have been re-grouped/ reworked/ re-arranged wherever necessary, to~e them comparable.
				""· m.~ c;m""
	Place : Mumbai		0

Satnoor Plant : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 1 08. Tel. : (07165) 226376-79 • Fax : (07165) 226380 I 81 • E-mail : beplchw@ bhansaliabs.com Abu Road Plant : Plot No. SP-138-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan) - 307 026 Tel. : (02974) 226781/82/83/84 • Fax : (02974) 226737 • E-mail : beplabr@bhansaliabs.com

bHANsAli ENGiNEERiNG polyMERs liMiTEd

CIN : L27100MH1984PLC032637

Registered Office : 401, 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61/62/63/64 • Fax : (91-22) 2621 6077 • E-mail : abstron@ bhansaliabs.com • Website : www.bhansaliabs.com

FOR THE YEAR ENDED 31ST MARCH, 2021		_fin lakh~
			As at 31st March As at 31st March
Particulars		2021	2020
A Assets
1) Non-Current Assets
(a) Property, Plant and Equipment		14,075.48	14,952.77
(b) Capital work in progress		-	151 .58
(c) Intangible assets		6 03	8.76
(d) Financial assets
(i) Investments		150.00	150.00
(ii) Loans		2,452.47	2,143.70
(iii) Other financial assets		433.71	415.53
(e) Other non-current assets		35.74	68.21
Total Non-Current Assets (A)		17,153.43	17,890.55
2) Current Assets
(a) Inventories		11 ,286.58	20,835.44
(b) Financial assets
(i) Trade Receivables		29,073.64	15,373.78
(ii) Cash and cash equivalents		12,948.63	5,567.63
(iii) Bank balances other than (ii) above
		2,361.81	759.82
(iv) Loans		3,938.16	3,189.85
(v) Other Financial assets		12 09	11 1.28
(c) Other current assets		894.99	1,577.86
Total Current Assets (B)		60,515.90	47,415.66
	Total Assets (A)+ (B)	77,669.33	65,306.21
B Equity & Liabilities
1) Equity
(a) Equity share capital		1,659.06	1,659.06
(b) Other Equity		66,426.35	33,961.29
Total Equity (A)		68,085.41	35,620.35
2) Liabilities
Non-Current Liabilities
(a) Financial Liabilities
(i) Other Non Current Financial Liabil ity		50.61	43.92
(b) Long term provisions		375. 12	377.55
(c) Deferred tax liabilities (Net)		1,698.26	1,635.17
Total Non-Current Liabilities (B)		2,123.99	2,056.64
Current Liabilities
(a) Financial Liabilities
(i) Trade payables		3,617.99	27,230.74
		355.42	124.10
(ii) Other Current Financial liabilities		3,440.07	213.24
		46.45	61.14
		-	-
(b) Other current liabilities (c)Short term provisions (d) Current tax liabi lities (Net)
Total Current Liabilities (C)		7,459.93	27,629.22
Total Equity and Liabilities (A)+ (B)+( C)		77,669.33	~ 65,306.21

To, The Board of DirectoiS of Bhansali Engineering Polymers Limited

Report on the Audit of the Consolidated Annual Financial Results

Opinion

We have audited the accompanying Statement of consolidated financial results of BHANSALI ENGINEERING POLYMERS LIMITED ('the Company'), comprising its joint venture (together, 'the Group') for the year ended 3151 March, 2021 ('the Statement'), attached here with, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended ('the Regulation').

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 report of M/s B.L. Dasharda & Associates, Chartered Accountants, on separate financial statements and the other financial information of Joint Venture, these consolidated financial results for the year:

• a) includes the year to date financial results of Joint Venture, M/s Bhansali Nippon A & L Private Limited;
• b) is presented in accordance with the requirements of Regulation 33 of the Regulations; and
• c) gives a true and fair view in conformity with Indian Accounting Standard 34 "Interim Financial Reporting ("lnd AS 34") prescribed under Section 133 of the Companies Act, 2013 (the "Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the quarter and year ended 31st March, 2021.

Basis for Opinion

We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results 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 ("'CAJ") together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for the Consolidated Financial Results

This Statement, is the responsibility of the Company's ~l<magement .1nd approved by the Board of Directors, has been compill!d on the basis of consolidated financtal statements for the year ended 31st March, 2021. The Board of Directors of the companies are responsible for the pr~paration and presentation of the Consolidated Financial Results that give a true and fair view of the 1wt profit and other comprehensive income and other financial information of the Group in accordance with thl.? recognition and measurement principles laid down in lnd AS 34, 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

HO: E·1603,LAKE FLORENCE. LAKE HOMES. OFFAOISHANKARACHARYA MARG. POW AI, MUM8Ai, (MAHARASHTRAj· 400076, MOB. 09414167046

401-402, (4TH FLOOR), SHREEJI CHAMBERS, 32 -A. PANCHWATI, UDAIPUR. 313 001 TEL. :0294-2428460, 2425529

~

AZAD JAIN & CO. CHARTERED ACCOUNTANTS

Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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 the 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 is free from material misstatement, whether due to fraud or error.

In preparing the Consolidated Financial Results, the respective Board of Directors are responsible for assessing the Group 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.

Those respective Board of Directors are also 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 as a whole is 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 this 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 financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of th~ 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 Company 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 Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions

HO: E·1603.LAKE FLORENCE, LAKE HOMES, OFF AOt SHANKARACHA.RYA MARG. POW At. MUMBAI, (MAHARASHTRA)- 400076, MOB. 09( 14167().46

401-402, (4TH FLOOR), SHREEJI CHAMBERS, 32 ·A. PANCHWATI, UDAIPUR· 313 OO'i~60~

AZAD JAIN &CO. CHARTERED ACCOUNTANTS

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 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 reglll"ding the Consolidated Financial Results of the Company to express an opinion on the Consolidated Finandal Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, inc1uding any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance wi~ a statement that we have complied with relevant ethical requirements regarding independence, and to commWlicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters:

We did not audit the financial statements and other financial information, in respect of its Joint venture whose financial information reflects total assets of '.455.46lakhs as at 31•' March, 2021, total revenues of ·.307.76 lakhs and total profit of '.97.36 lakhs for the year ended on that date. These financial statements and other financial information have been audited by other auditor, whose reports have been furnished to us by the management. Our opinion, in so far as it relates to the affairs of such Joint venture is based solely on the report of such auditors. Our opinion is not qualified in respect of this matter.

For Azad Jain & Co Clumertd A.ccountlmts Fi~gimi.tion NAA251C ^C• h l . A a r 1a -----:· .

Partner Membership Number: 400600 Place: Mumbai Dated : 181 ^hApril, 2021 UDINNo: 2Ut006ooAAAAA181t52..

HO: E-1803. LAKE FlORENCE, lAKE HOMES. OFF AOI SHANKARACHARYAMARG. POW AI, MUUSAI. (MAHARASHTRA)·400078. MOB. 09414167048 401-402. (4TH FLOOR), SHREEJI CHAMBERS, 32 ·A. PANCHWATI. UDAIPUR· 313 001 TEL. :0294 • 2428460,2425529

An ISO 9001 : 2015 Company

bHANsAli ENGiNEERiNG polyMERs liMiTEd

CIN: L27100MH1984PLC032637

Registered Office : 401 , 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 • Fax : (91-22) 2621 6077 • E-mail : abstron @ bhansaliabs.com • Website : www.bhansaliabs.com

		(' .in lakhs) (Except Earning per share)
	CONSOLIDATED
	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
I	INCOME Gross Revenue including GST	55,861 .59	48,524.34	29,661 .61	1,52,434.35	1,29,530.37
II	Less:GST Recovered	8,518.88	7,397.25	4,520.98	23,239.60	19,097.35
Ill	Revenue from operations (Net of GST) (1-11 )	47,342.71	41 ,127.09	25,140.63	1,29,194.75	1 '1 0,433.02
IV	Other Income	205.38	168.01	16.79	1,018.46	590.06
v	Total Income (III+IV)	47,548.09	41 ,295.10	25,157.42	1,30,213.21	1 '11 ,023.08
VI	EXPENSES
	(a) Cost of materials Consumed (b) Purchase of stock-in-trade	17,230.24 2,454.27	10,679.23 3,896.52	14,188.32 6,253.98	48,135.66 19,016.00	59,264.98 31 ,881 .99
	(c) Changes in inventories of finished goods,	(50.70)	3,292.21	847.98		(1 ,813.17)
	work-in-progress and stock-in-trade
	(d) Employee benefits expense	2,830.25	2,417.62	(1 .26)	6,797.20	2870.06
	(e) Finance Costs	42.61	13.66	3.28	63.01	11 .23
	(f) Depreciation & amortisation expenses	231 .01	256.52	253.09	1,018.65	951 .77
	II Ill Other expenses	2,938.93	2,436.77	2,579.27	9,226.30	9595.08
	TOTAL EXPENSES (a to g)	25,676.61	22,992.53	24,124.66	85,615.56	1,02,761 .94
VII	Profit I (Loss) before exceptional and extraordinary items and tax IV - VII	21,871.48	18,302.57	1,032.76	44,597.65	8,261 .14
VIII	Exceptional Items	-			-	-
IX	Profit I (Loss) before extraordinary items and tax (VII- VIII)	21,871.48	18,302.57	1,032.76	44,597.65	8,261 .14
X	Extraordinary items	-	-		-
	Profit I (Loss)before share of net profit!( loss) of investment
	accounted for using equity method and tax (IX -X)	21,871 .48	18,302.57	1,032.76	44,597.65	8,261 .14
XI	Share of net profitl(loss) from Joint venture accounted for using
XII	the equity method	25.27	23.57	4.93	48.68	18.99
XIII	Profit I (loss) before tax (XI+ XII)	21,896.75	18,326.14	1,037.69	44,646.33	8,280.13
XIV	Tax Expenses
(i)	Current tax	5,495.52	4,682.00	242.32	11177.52	2050.63
(ii)	Deferred tax	52.50	14.86	16.81	78.82	(471 .95\
XV	Profit I (Loss) for the period ( XIII- XIV ) Other Comprehensive Income I (loss) (net of tax)	16,348.73	13,629.28	778.56	33,389.99	6,701 .45 47.67
XVI	o a vomprenens1ve ncome (LOSSJ or me penoa (AV	(49.29	(0.22	29.38	(46.72)
XVII	+XVI)	16,299.44	13,629.06	807.94	33,343.27	6,749.12
XVIII	!Paid Up Equity Share Capital	1,659.06	1,659.06	1,659.06	1,659.06	1,659.06
XIX	Earnings per share (of · .11- each) (not annualised)
(i)	Basic	9.85	8.22	0.47	20.13	4.04
(ii)	Diluted	9.85	8.22	0.47	20.13	4.04
	Notes:
1	The Audited Consolidated Financial Results have been prepared in accordance with the recognition and measurement principles provided in Indian Accounting
	Standards (lndAS 34), the provisions of the Companies Act, 2013 (the Act), as applicable and guidelines issued by the Securities and Exchange Board of India
	(SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, (SEBI (LODR) Regulations, 2015) as amended.
2	The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meeting held on 18th April,2021 .
3	In accordance with Regulation 33 of the SEBI (LODR) Regulations, 2015, the above Unaudited Consolidated Financial Results of the Company are posted on
	Company's website (www.bhansaliabs.com) and on the website of BSE Limited (www.bseindia.com) and the National Stock Exchange of India Limited
	(www.nseindia.com), where the Company's shares are listed.
4	The figures for the quarter ended 31st March, 2021 and 31st March, 2020 are the balancing figures between the audited figures in respect of the full financial year
	and the reviewed year-to-date figures up to third quarter of the respective financial year.
5	The Company operates in a single segment namely "Highly Specialized Engineering Thermoplastics".
6	The Board of Directors have recommended dividend of 100% (viz Re 11- per share having face value of Re.11- each) subject to approval of shareholders in the ensuing Annual General Meeting.
7	Figures for the previous Period/ Year have been re-grouped/ reworked/ re-arranged wherever necessary, to ma~em comparable.
				"9 '"''~" Um"-'
	Place : Mumbai Dated : 18th April, 2021		ans 1 Director Manag DIN:00102930

Satnoor Plant : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. Tel.: (07165) 226376-79 • Fax : (07165) 226380 I 81 • E-mail : beplchw@bhansaliabs.com Abu Road Plant :Plot No. SP-138-143, Ambaji Industrial Area, Abu Road, Dist. Sirohi (Rajasthan)- 307 026 Tel.: (02974) 226781/82/83/84 • Fax : (02974) 226737 • E-mail : beplabr@bhansaliabs.com

-

b~ANsAli ENGiNEERiNG polyMERs liMiTEd

GIN: L27100MH1984PLC032637

Registered Office : 401 , 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61 /62/63/64 • Fax : (91-22) 2621 6077 • E-mail : abstron @ bhansaliabs.com • Website : www.bhansaliabs.com

FOR THE YEAR ENDED 31ST MARCH,2021		r in lakhs)
No.	Particulars	As at 31st March	As at 31st March
	A Assets	2021	2020
	1) Non-Current Assets
	(a) Property. Plant and Equipment	14,075.48	14,952.77
	(b) Capital work in progress		151 .58
	(c) Intangible assets	6.03	8.76
	(d) Financial assets
	(i) Investments	199.52	150.84
	(ii) Loans	2,452.47	2,143.70
	(iii) Other financial assets	433.71	415.53
	(e) Other non-current assets	35.74	68.21
	Total Non-Current Assets (A)	17,202.95	17,891.39
	2) Current Assets
	(a) Inventories	11 ,286.58	20,835.44
	(b) Financial assets
	(i) Trade Receivables	29,073.64	15,373.78
	(ii) Cash and cash equivalents	12,948.63	5, 567.63
	(iii) Bank balances other than (ii) above	2,361 .81	759.82
	(iv) Loans	3,938.16	3,189.85
	(v) Other Financial assets (c) Other current assets	12.09 894.99	111 .28 1,577.86
	Total Current Assets (B)	60,515.90	47,415.66
	Total Assets (A)+ (B)	77,718.85	65,307.05
	B Equity & Liabilities
	1) Equity
	(a) Equity share capital	1,659.06
	(b) Other Equity	66,475.87	1,659.06 33,962.13
	Total Equity (A)	68,134.93	35621.19
	2) Liabilities
	Non-Current Liabilities
	(a) Financial Liabilities
	(i) Other Non Current Financial Liability (b) Long term provisions	50.61
	(c) Deferred tax liabilities (Net)	375.12 1,698.26
	Total Non-Current Liabilities (B)	2,123.99
	Current Liabilities
	(a) Financial Liabilities
	(i) Trade payables	3,61 7.99
	(ii) Other Current Financial liabilities	355.42
	(b) Other current liabilities	3,440.07
	(c) Short term provisions (d) Current tax liabilities (Net)	46.45 -	-
	Total Current Liabilities (C) Total Equity and Liabilities (A)+ (B)+( C)	7,459.93 77,718.85	43.92 377.55 1,635.17 2 056.64 27,230.74 124.10 213.24 61.14 27 629.22 65,307.05

b~ANsAli ENGiNEERiNG polyMERs liMiTEd

CIN : L271 OOMH 1984PLC032637

Registered Office : 401, 4th Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri (West), Mumbai - 400 058. Tel. : (91-22) 2621 6060/61/62/63/64 • Fax : (91-22) 2621 6077 • E-mail : abstron@ bhansaliabs.com • Website : www.bhansaliabs.com

BEPL/SEC/2021/44

18th April, 2021

To	To
The BSE Limited	The National Stock Exchange of India Ltd.
Corporate Relationship Department	Exchange Plaza, C- 1, Block G,
Phiroze Jeejeebhoy Towers,	Bandra-Kurla Complex,
Dalal Street,	Bandra (E) ,
Mumbai- 400 001	Mumbai- 400 051.
Security Code: 500052	Security Code: BEPL

Sub: Declaration of un-modified opinion with the Audit Report on Financial Results (Standalone and Consolidated) for the quarter and financial year ended 31st March, 2021.

Dear Sir,

Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, I hereby confirm that the Statutory Auditors of the Company Mjs. Azad Jain & Co., Chartered Accountants, Mumbai (FRN - 006251 C) has issued Audit Report with unmodified opinion in respect of Financial Results for the quarter and financial year ended 31 st March, 2021.

Kindly take the same on record.

Thanking you,

Yours faithfully, F~ Bh~sali Engineering Polymers Limited

\~·

Jayesh B. Bhansali Executive Director cum CFO (DIN 01062853)