bHANSAli ENqiNEERiNq polyMERS liMiTEd

CIN : L271OOMH1984PLC032637

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 : [email protected] •Website : www.bhansaliabs.com

Ref: BEPL/SEC/2021/76

11th July, 2021

To,	To,
The BSE Limited	National Stock Exchange of India Limited
Corporate Relationship Department,	1, Sandra- Exchange Plaza, C - Kurla
Phiroze Jeejeebhoy Towers,	Complex, Sandra (East),
400 001 Dalal Street, Mumbai -	400 051 Mumbai-

Security Code : 500052	Security Code : BEPL

Sub: Outcome of Board Meeting- Sunday, 11th July, 2021.

Dear Sir/ Madam,

Pursuant to Regulation 30 read with Schedule III and other applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (including any statutory modification(s) or amendment(s) or re-enactment(s) thereof for the time being in force), please be informed that the Board of Directors of the Company at its meeting held today, inter alia, considered and approved Un-Audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2021 after the Limited Review by the Statutory Auditors.

The meeting of the Board of Directors commenced at 12:00 noon and concluded at 01:35 P.M.

We hereby enclose the following:

a. Limited Review Report on Un-Audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2021, issued by the Statutory Auditors of the Company; and
b. Copy of Un-Audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2021.

Request you to kindly take the same on record.

Thanking you,

Yours faithfully, For Bhansali Engineering Polymers Limited

~ M. Patel

Ashwin Company Secretary & GM (Legal)

Encl: as above

AZAD JAIN & CO. CHARTERED ACCOUNTANTS

ENT AUDITOR'S REVIEW REPORT ON THE QUARTERLY UNAUDITED STANDALONE FINANCIAL RESULTS OF THE COMPANY PURSUANT TO REGULATION 33 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

Review Report to The Board of Directors, Bhansali Engineering Polymers Limited, Mumbai.

1) We have reviewed the accompanying Statement of Unaudited Standalone Financial Result of Bhansali Engineering Polymers Limited ("the Company") for the quarter ended 301h June, 2021 ("the Statement''), being submitted by Company to the Stock Exchange viz. BSE Limited ("BSE") and The National Stock Exchange of India Limited (''NSE") pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requiremerits) Regulations, 2015, as amended ("the Regulation"), read with SEBI Circular No. CIR/CFD/CMDl/44/2019 dated 291h March, 2019 ("the Circular'').
2) The preparation of the statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standards 34, "Interim Financial Reporting", (Ind AS 34) prescnbed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the Circular is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to express a conclusion on the Statement based on our review.
3) We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of Entity "("the Standard"), 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 is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

HO: E·1603, LAKE FLORENCE, LAKE HOMES, OFF ADI SANKARACHARYA MARG, POWAi, 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 ACCOUNTANTS

4) Based on our review conducted as stated above, nothing has come to our attention that cauSIS us to believe that the accompanying Statement, prepued in accordance with the applicable Indian Accounting Standards ("Ind AS") prescribed under Section 13.l of the Companies Act, 2013 read with relevant rules issued thereunder and other remgnized accounting practices and policies, has not disclosed the information required to be disdosed in terms of the Regula~ read with the circular, including the manner in whidt it is to be disclosed or that it contains any material misstatement.

For Azad Jain It Co ClrotttmlAa:mintats

Membemhip No.: 400600

Place: Mumbai Date: 11"' July, 2021

UDIN No: 21400600AAAAAM9224

bHANsAli ENGiNEERiNG polyMERs liMiTEd

CIN: L27100MH1984PLC032637

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH JUNE,2021 UNDER IND AS It in lakhs) (Except Earning per share) STANDALONE PARTICULARS Quarter ended Year ended 30/06/2021 31/03/2021 30/06/2020 31/03/2021 Unaudited Audited Unaudited Audited INCOME I Gross Revenue including GST 27,365.37 55,861.59 11,729.66 152,434.35 II Less:GST Recovered 4,174.07 8.518.88 1,789.92 23,239.60 Ill Revenue from operations (Net of GST) (1-11) 23 191.30 47 342.71 9 939.74 129 194.75 IV Other Income 488.69 205.38 473.45 1,018.46 v Total Income llll+IVI 23 679.99 47 548.09 10 413.19 130 213.21 VI EXPENSES (a) Cost of materials Consumed 14,715.11 17,230.24 8,116.57 48,135.66 (b) Purchase of stock-in-trade 220.16 2,454.27 5,033.98 19,016.00 (c) Changes in inventories of finished goods, (6,434.07) (50.70) (4,741.99) 1,358.74 work-in-progress and stock-in-trade (d) Employee benefits expense 1,680.55 2,830.25 488.82 6797.20 ( e) Finance Costs 5.20 42.61 1.28 63.01 (f) Depreciation & amortisation expenses 249.24 231.01 255.42 1018.65 (al Other exoenses 2,924.92 2938.93 1374.89 9226.30 TOTAL EXPENSES la tool 13 361.11 25 676.61 10 528.97 85 615.56 VII Profit /(Loss) before exceptional and extraordinary items 10,318.88 21,871.48 (115.78) 44,597.65 and tax IV - VII VIII Exceptional Items - - - - IX Profit /(Loss) before extraordinary items and tax (VII- VIII) 10 318.88 21 871.48 1115.781 44597.65 ^xExtraordinarv items - - - - Profit I (Loss) before share of net profit/(loss) of investment accounted for using equity method and tax (IX - 10,318.88 21,871.48 (115.78) 44,597.65 XI XI Share of net profit/(loss) from Joint venture accounted for using - - - XII the equitv method XIII Profit I {Loss) before tax IXl+Xlll 10 318.88 21 871.48 1115.78 44 597.65 XIV Tax Expenses (i) Current tax 2,5g7.26 5,495.52 - 11,177.52 (ii) Deferred tax 9.84 52.50 8.89 78.82 xv Profit I (Loss) for the period (XIII- XIV l 7711.78 16 323.46 (124.67) 33 341.31 XVI Other Comprehensive Income I (loss) (net of tax) 34.17 149.291 126.461 146.721 XVII 1ota1 .. omprenens1ve income t \LOSSJ 1or the period \AV 7,745.95 16,274.17 (151.13) 33,294.59 +XVI) XVIII Paid Up Equity Share Capital 1,659.06 1,659.06 1,659.06 1,659.06 XIX Earnings per share (of t.1/- each) (not annualised) (i) Basic 4.65 9.84 {0.08) 20.10 (ii) Diluted 4.65 9.84 10.081 20.10 Notes: I I 1 The Unaudited 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 11th July,2021.The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 3 In accordance with Regulation 33 of the SEBI (LODR) Regulations. 2015, the above Un-Audited Standalone Financial Resulls 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 Slack Exchange of India Limited (www.nseindia.com), where the Company's shares are listed. 4 Demand for the Company's products in the domestic market during the quarter ended June 21 was sluggish due to lockdown imposed by various States in view of the second wave of the COVID-19 Pandemic. The production during the quarter continued at nonTial capacity levels, however, the dispatches were to the tune of 50% of the production levels. resulting into building up of additional Inventories. The Company anticipates bounce-back in products demand on restoration of nonTialcy due to aggressive vaccination programme along with other initiatives undertaken by the government. The Company will endeavour to achieve maximum capacity utilisation levels for the year. 5 During the quarter ended June 21, while the entire country was reeling under the severe impact of the second wave of Covid-19 pandemic, your Company undertook exemplary relief measures for the society at large, inter-alia, establishing two Covid Care Centres at South Mumbai & Bhayander (Thane District) in Maharashtra and two Covid Care Centres at Sirohi and Jalore Districts in Rajasthan, setting up three Oxygen Plants at Sirohi District & three Oxygen Plants at Jalore District through Rajasthan CM Relief Fund & one Oxygen Plant through District Magistrate at Chhindwara (M.P.), free vaccination for 5000+ people in Mumbai, etc. at an aggregate outlay of approx.t. 9.21 Crores. 6 The figures for the quarter ended 31st March, 2021 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. 7 The Company operates in a single segment namely "Highly Specialized Engineering ThenTioplastics" . 8 Figures for the previous Period/ Year have been re-grouped/ reworked/ re-arranget\_ wherevw necessary, to ma~em comparable. IP"~ ~ ~O ,_,,,._Um"°' .;g B. ha i Place: Mumbai \'} ^~Ma ging Directo Dated : 11th July, 2021 '*"118 '-.:.: « ·~, , 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 : [email protected] 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 : [email protected]

INDEPENDENT AUDITOR'S REVIEW REPORT ON nm QUARTERLY UNAUDITED CONSOLIDATED FINANCIAL RESULTS OF nm COMPANY PURSUANT TO lHE REGULATION 33 OF lHE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

Review Report tO The Board of Directors, Bhansali Engineering Polymers Umited, Mumbai.

1) We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of BHANSALI ENGINEERING POLYMERS LIMITED ('the Company'), comprising its joint venture together, ('the Group') for the quarter ended 3Qth June ,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') read with SEBI Circular No. CIR/CFD/CMDl/4412019 dated 29th March, 2019 (" the Circular").
2) This statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors in their meeting held on 11 lh July , 2021 has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standards 34, "Interim Financial Reporting'', (Ind AS 34) 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, read with the Circular. Our responsibility is to express a conclusion on the Statement based on our review.
3) We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Re'oiew of Interim Finandal lnfonnation Performed by the Independent Auditor of Entity "("the Standard"), issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of person\$ 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.

HO; E·1603, LAKE FLORENCE, LAKE HOMES, OFF ADI SANKARACHARYA MARG, POWAi, MUMBA~ (MAHARASHTRA)-400076. MOB. 09414167046 401-402, (4TH FLOOR), SHREEJI CHAMBERS, 32-A, PANCHWATI, UDAIPUR • 313 001. TEL : 0294 • 2428460, 2425529

AZAD JAIN & CO. CHARTERED ACCOUNTANTS

We also performed procedures ln ac:cordance with the ClrruJJr ilAM!d by the Stcurities and Exchange Board of India under Regulation !3(8) of the SB81 (lJadna Obligations and Disdosure Requirements) Regulations, 2015 as amended, to the a11nt apptiabJe.

4) The Statement indudee the ruulbl of the foDowtng entftin: Bhmmli Nippon A&: L Private Limited (Joint venture Endty).
5) The Statement includes the interim financilJ multi and other flnlndal tnCormaUon of 1 joint ventuteentitywhoseinterimfinandalruullt/informationreftectsGroup'tdMtttoftotala.ts of Rs. 226.14 lakhs and total net Profit after tax of Rs. 26.61 lakha for the dun montht ended P June, 2021 (Previous quarter Profit of Rs. 25.27 llkhl). Thcwe flnlndal ltltalefaand other financial information have been reviewed by other auditor, whole reportl haftblln fumilhed to us by the management. Our opinion, in so far as lt relates to the lffain of IUCh Joint wntwt> is based solely on the report of such auditors. Our condulion ii not modified fn tapert of lhit. matter.

For Azad Jam & eo

Chartmtl Al¥ountanls

Firm Regiatn.tion Number. 006251C

~~ Partner

Membenhip Number. 400600

Place: Mumbai

Date: 11• July, 2021

tJDJN No: 21400600AAAAAM9224

bHANsAli ENGi N EERi NG polyM ERS li M iTEd

CIN : L271OOMH1984PLC032637

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH JUNE,2021 UNDER IND AS ('!:.in lakhs) (Except Earning per share) CONSOLIDATED PARTICULARS Quarter ended Year ended 30/06/2021 31/03/2021 30/06/2020 31/03/2021 Unaudited Audited Unaudited Audited INCOME I Gross Revenue including GST 27,365.37 55,861.59 11,729.66 152,434.35 II Less:GST Recovered 4,174.07 8,518.88 1,789.92 23,239.60 Ill Revenue from operations (Net of GST) (1-11) 23191.30 47 342.71 9 939.74 129 194.75 IV Olher Income 488.69 205.38 473.45 1,018.46 v Total Income llll+IVI 23 679.99 47 548.09 10 413.19 130 213.21 VI EXPENSES (a) Cost of materials Consumed 14,715.11 17,230.24 8,116.57 48,135.66 (b) Purchase of stock-in-trade 220.16 2,454.27 5,033.98 19,016.00 (c) Changes in inventories of finished goods, (6,434.07) (50.70) (4,741.99) 1,358.74 work-in-progress and stock-in-trade (d) Employee benefits expense 1,680.55 2,830.25 488.82 6797.20 (e) Finance Costs 5.20 42.61 1.28 63.01 (f) Depreciation & amortisation expenses 249.24 231.01 255.42 1,018.65 tn\ Other exoenses 2,924.92 2,938.93 1,374.89 9226.3 TOTAL EXPENSES (a tog) 13361.11 25 676.61 10 528.97 85 615.56 VII Profit ^I(Loss) before exceptional and extraordinary Items 10,318.88 21,871.48 (115.78) 44,597.65 and tax IV • VII VIII Exceptional Items . . . IX Profit I (Loss) before extraordinary items and tax (VII- VIII) 10,318.88 21,871.48 (115.78) 44 597.65 x Extraordinarv items . . . Profit ^I(Loss)before share of net profit/(loss) of investment 10,318.88 21,871.48 (115.78) 44,597.65 XI accounted for using equity method and tax (IX ·X) Share of net profiV(loss) from Joint venture accounted for using XII the eauitv method 26.62 25.27 (13.93) 48.68 XIII Profit/ ILossl before tax IXl+Xlll 10 345.49 21 896.75 (129.71) 44 646.33 XIV Tax Expenses (i) Current tax 2,597.26 5,495.52 . 11177.52 (ii) Deferred tax 9.84 52.50 8.89 78.82 xv Profit I (Loss) for the period ( XIII- XIV ) 7 738.39 16 348.73 (138.60) 33 389.99 XVI Other Comorehensive Income I (loss) (net of tax) 34_17 149.29) 126.46) 146.721 XVII 1ota11,;omprenens1ve income/ (Loss) ror tne per1oa \Av 7,772.56 16,299.44 (165.06) 33,343.27 +XVI) XVIII Paid Up Equity Share Capital 1,659.06 1,659.06 1,659.06 1,659.06 XIX Earnings per share (of'C.1/- each) (not annualised) (i) Basic 4.66 9.85 (0.08) 20.13 (ii) Diluted 4.66 9.85 (0.08) 20.13 Notes: 1 The Unudited 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 11th July,2021.The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 3 In accordance with Regulation 33 of the SEBI (LODR) Regulations, 2015, the above Un-Audited 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 Demand for the Company's products in the domestic market during the quarter ended June 21 was sluggish due to lockdown imposed by various States in view of the second wave of the COVID-19 Pandemic. The production during the quarter continued at normal capacity levels, however, the dispatches were to the tune of 50% of the production levels, resulting into building up of additional Inventories. The Company anticipates bounceback in products demand on restoration of normalcy due to aggressive vaccination programme along with other initiatives undertaken by the government. The Company will endeavour to achieve maximum capacity utilisation levels for the year. 5 During the quarter ended June 21, while the entire country was reeling under the severe impact of the second wave of Covid-19 pandemic, your Company undertook exemplary relief measures for the society at large, inter-alia, establishing two Covid Care Centres at South Mumbai & Bhayander (Thane District) in Maharashtra and two Covid Care Centres at Sirohi and Jalore Districts in Rajasthan, setting up three Oxygen Plants

6 The figures for the quarter ended 31st March, 2021 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. 7 The Company operates in a single segment namely "Highly Specialized Engineering Thermoplastics" . / 8 Figures for the previous Period/ Year have been re-grouped/ reworked/ re-arranged wherever ne.cessary, to make th~omparable. a~ 'J~_.oum;~ :i lllJM ilA/ ~ ^I \ \$1 B.M.~'nsali Place : Mumbai Manag g Di ctor Dated : 11th July, 2021 ~ ~·~~/ DIN:001 ~2930 '..

at Sirohi District & three Oxygen Plants at Jalore District through Rajasthan CM Relief Fund & one Oxygen Plant through District Magistrate at

Chhindwara (M.P.), free vaccination for 5000+ people in Mumbai, etc. at an aggregate outlay of approx.~. 9.21 Crores.

Satnoor Plant : Bhansali Nagar, Taluka - Sausar, Dist. Chhindwara, Madhya Pradesh - 480 108. Tel.: (07165) 226376-79 •Fax: (07165) 226380 I 81 •E-mail: [email protected] 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: [email protected]

AI assistant

Bhansali Engineering Polymers Ltd. Interim / Quarterly Report 2021

62572_rns_2021-07-11_21f34d59-ea51-4073-b329-bd692426902c.pdf

bHANSAli ENqiNEERiNq polyMERS liMiTEd

Sub: Outcome of Board Meeting- Sunday, 11th July, 2021.

AZAD JAIN & CO. CHARTERED ACCOUNTANTS

AZAD JAIN & CO. CHARTERED ACCOUNTANTS