Bliss GVS Pharma Limited — Annual Report 2019

May 19, 2019

BLISS GVS PHARMA LTO. . cB.s.s

May 18, 2019

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S b ol B L IS S G V S ym :	S i C od 50 19 7 6 p cr e:

Subject: Outcome of Board Meeting - Adoption of Accounts, AGM & Book Closures, etc.

Dear Sir/Madam,

We would like to inform you that Board Meeting of the Company was held today i.e. on Saturday, May 18,2019 at registered office of the Company. In pursuan^t to Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has considered and approved the following matters:

• 1. The audited standalone and consolidated financial statements and results of the Company for the quarter and year ended March 31,2019 alongwith the audit repor^t of the auditors of the Company. The copy of said financial results and audit repor^t are enclosed herewith as Annexure-I.
• 1. Declaration of Unmodified opinion for annual audited standalone and consolidated financial results for the year ended March 31, 2019in accordance with Regulation 33(3)(d) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI circular no. CIR/CFD/CMD/56/2016 dated May 27, 2016 is enclosed herewith as Annexure- 2.
• 1. Recommended ^a dividend of Re. 1/- per equity share of face value of Rs. 10/- each for the financial year ended March 31, 2019,subject to approval of the shareholders in the ensuing Annual General Meeting (AGM) of the Company.
• 1. The 33rd Annual General Meeting of the Members of the Company will be held on Friday, September 20, 2019 at the Hotel Mirador, New Link Road, Andheri (East), Mumbai- 400 099.
• 1. Pursuant Regulation 42 of the SEBI(Listing Obligations and Disclosure Requirements), 2015, the Register of Member and Share Transfer Books of the Company will remain closed from ....."S==--l' ..... !J1=-- aturday, September 14, ²⁰¹⁹ to Friday, September 20, ²⁰¹⁹ (both days inclusive) for taking ~ ~ C> ord of the members of the Company for the purpose of dividend and Annual General ?' . ,_._,....., ^~ eting.

ce : 2, Hyde Park, Saki Vihar Road,Andheri (East), Muinbai - 400 072, INDIA. TEL. : (+91) (22) 42160000/28505387 • FAX.: (+91) (22) 28563930, Email: info@blissgvs.com • Website: www.blissgvs.com • CIN - L24230MH1984PLC034771 Factory: Plot NO.10 & 11Survey No. 38/1, Dewan Udyog Nagar,Aliyali Village, Tal. & Dist. Palghar- 401 404.

Tel.(+91) (02525) ²⁵²⁷¹³ • Fax: (+91) (02525)255257.• Email: factory@blissgvs.com

• 1. Pursuant to the recommendation of the Nomination and Remuneration Cormnittee and subject to approval of the shareholders of the Company, the Board approved the reappointment of the following Directors - BLISS GVS PHARMA LTO.
• a) Mr. S. N. Kamath (DIN: 00140593)as Managing Director of the Company for another period of three years with effectfrom April 01, 2019.
• b) Mrs. Shruti Vishal Rao (DIN: 00731501)as Whole-Time Director of the Company for another period of three years with effectfrom April 01,2019.
• c) Dr. Vibha Gagan Sharma (DIN: 02307289)as Whole-Time Director of the Company for another period of three year with effectfrom January 27,2019.

The brief profile of the above mentioned directors are enclosed herewith as Annexure-3.

• 1. Pursuant to Section 188 of the Companies Act, 2013 and based on the recommendation of the Nomination and Remuneration Committee and subject to approval of the shareholders of the Company, the Board extended the employment contracts of Mr. Gagan Sharma, Mr. Arjun Ashra and Mr. Vishal Rao for holding officeor place of profit as an employees ofthe Company in the managerial capacity.
• 1. The Board approved the reappointment ofBDOIndia LLP,Chartered Accountant having LLP registration no. AAB-7880as Internal Auditor of the Company for the financial year 2019- 2020.The brief profile of tl.e internal auditor is enclosed herewith as Annexure-d.
• 1. The Board approved the reappointment of Mj s. Ramesh Chandra Mishra & Associates, Practicing Company Secretaries, as Secretarial Auditor of the Company for the financial year 2019-2020.The Brief of the secretarial auditor is enclosed herewith as Annexure-5.
• 1. The Board has adopted and taken on record the following code of conduct and policies as per amended Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015:
• a) Code of practices and procedures for Fair Disclosures of Unpublished Price Sensitive Information of BlissGVSPharma Limited.
• b) Code of Internal procedures and conduct for Regulating, Monitoring and Reporting of Trading by Designated Persons.
• c) Code of Conduct for Non-Executive Directors and Independent Directors
• d) Terms and Conditions of Appointment of Independent Directors

Regd. Office: 2, Hyde Park, Saki Vihar Road,Andheri (East), Mumbai - 400 072, INDIA. TEL. : (+91) (22) 42160000/ 28505387 ⁰ FAX.: (+91) (22) 28563930, Email: info@blissgvs.com ⁰ Website: www.btissqvs.com- CIN - L24230MH1984PLC034771

Factory : Plot No.1 0 & 11Survey No. 38/1, Dewan Udyog Nagar,Aliyali Village, Tal. & Dist. Palghar- 401 404. Tel.(+91) (02525) ^{252713 0} Fax: (+91) (02525)255257. ⁰ Email: factory@blissgvs.com

BLISS GVS PHARMA LTD. . cH.s.s

• i) Nomination and Remuneration Policy
• j) Policy for Determination of Materiality of Events
• k) Policy for determining Material Subsidiary
• 1) Policy on Evaluation of Board of Directors
• m) Policy for Preservation of Documents
• n) Policy for Related Party Transactions
• 0) Whistle Blower Policy and Vigil Mechanism Policy

The same will be made available on the website of the Company i.e. www.blissgvs.com.

1. The Board approve^d LC/BG banking facilities from Standard Chartered Bank of USD 10,000,000 against 110% cash margin and the terms and conditions in connection with the said banking facilities.

The meeting of the Board of Directors commenced at 4.00 p.m. and concluded at 9.00 pm ..

Kindly take the above information on your record and acknowledge.

Thanking You, Your Faithfully,

For Bliss GVS Pharma Limited

Vipul B. Chief Fi ncial Officer (

Encl: As bove

Sr. No	Particulars			Standalone						Consolidated
		31.03.2019	Quarter ended	31.03.2018		31.03.2019 31.03.2018 Year ended	31.03.2019	Quarter ended	31.03.2018	31.03.2019	Year ended	31.03.2018
		Audited	31.12.2018 Unaudited	Audited	Audited		Audited	Unaudited 31.12.2018	Audited	Audited	Audited		Audited
											Continued	Audited Discontinued
											operations	operations	31.03.2018
	Revenue from Operations	10,614.32 301.81	9,563.20	8,331.83	42,659.02 3,581.29	29,829.38	24,405.08	22,043.48	16,710.04 554.01	89,824.92	37,251.55	44,262.45	81,514.00
$=$ $=$	Total Income (I+II) Other Income	10,916.13	$-435.12$ 9,128.08	433.85 8,765.68	46,240.31	1,099.50 30,928.88	24,683.90 278.82	21,653.28	17,264.05	93,587.75 3,762.83	39,217.72 1,966.17	44,949.78 687.33	2,653.50 84,167.50
$\geq$	Cost of Materials consumed Expenses	5,192.23	3,218.02	4,019.90	16,730.02	14,989.90	6,669.33	4,094.99	7,843.28 261.45	21,736.30	19,207.38	19,415.24	38,622.62 546.98
	Changes in inventories of work in process, finished goods and Purchase of Stock-in-Trade ந் J,	1,006.14	1,874.45		6,152.60	$-409.14$	11,068.66	10,730.42 $-112.73$	$-498.91$	40,142.71 -653.36	546.98 $-331.39$	274.50	-56.89
	stock in trade Excise Duty d.	-356.05	$-442.12$	$-398.21$ $-10.64$	$-367.73$	40.15	$-451.86$		$-16.01$		49.59		49.59
	Employee Benefit Expense نه	884.67	881.43	684.58	3,384.71	2,629.44	1,109.58	1,111.69	1,708.51	4,232.04	3,386.96	3,536.19	6,923.15
	Finance Costs ť.	64.72	67.47	158.06	315.16	695.14	92.57	96.31	544.52	441.47	860.17	1,419.95	2,280.12
	Depreciation and Amortisation Expense cò	144.73	133.93	145.99	574.79	567.16	220.41	219.39	487.43	894.35	907.08	1,231.21	2,138.29
	Other Expenses £.	2,493.70	1,567.50	1,200.40	7,449.43	3,732.51	2,815.41	1,865.18	3,658.11	8,602.93	4,771.63	10,942.95	15,714.58
	Total Expenses	9,430.14	7,300.68	5,800.08	34,238.98	22,245.16	21,524.10	18,005.25	13,988.99	75,396.44	29,398.41	36,820.03	66,218.44
5 $\,$	Profit / (Loss) before exceptional Items and tax Exceptional Items $(III-N)$	1,485.99	1,827.40	2,965.60	12,001.33	8,683.72	3,159.80	3,648.03	3,275.06 $-3,419.87$	18,191.31	$-3,419.88$ 9,819.31	8,129.75	17,949.06 -3,419.88
Ξ	Profit / (Loss) before Tax (V-VI)	1,485.99	1,827.40	2,965.60	12,001.33	8,683.72	3,159.80	3,648.03	$-144.20$	18,191.31	6,399.43	8,129.75	14,529.18
JΙ	iii. Short/ Excess Provision of earlier years ii.Deferred Tax Liability/(Asset) i.Current Tax Tax Expense	1,008.42 $-78.83$ 92.90	8.66 648.67	1,275.52 $-52.05$ $-289.17$	4,451.14 13.90 92.90	3,020.38 $-38.12$	1,259.20 $-70.35$ 92.23	$-96.95$ 1,022.11	$-51.68$ $-189.42$ 1,468.67	5,518.80 $-85.99$ 92.23	3,290.99 $-63.29$ $-0.77$	2,435.75	5,726.74 -63.29 $-0.77$
	(VII-VIII) Profit/(Loss) from discontinuing operations(after tax) Profit/(Loss) from continuing operations(after tax)	463.50	1,170.07	2,031.31	7,443.39	5,701.46	1,878.72	2,722.87	1,371.77	12,666.27	3,172.75	5,693.99
$\leq x$	Net Profit /(Loss) for the period Other Comprehensive Income	463.50	1,170.07	2,031.31	7,443.39	5,701.46	1,878.72	2,722.87	$-1,371.77$	12,666.27	3,172.50	5,693.99	8,866.49
	(i) Remeasurement of the defined benefit liabilities/ (asset) č (ii) Deferred tax on remeasurement of defined benet i. Items that will not be reclassified to profit & loss	$-34.18$ 11.94	2.49 $-1.01$	38.48	$-26.68$ 9.32	$-10.08$ 29.13	$-34.18$ 11.94	2.50 $-1.01$	6.24 -0.73	$-26.68$ 9.32	27.30 $-10.08$		27.30 $-10.08$
	(iv) Deferred tax on change in revaluation surplus (iii) Change in revaluation Surplus liabilities/ (assets)		$\mathbf{r}$	$-13.32$ $\blacksquare$		$\cdot$ $\cdot$	$\mathbf{r}$	$\cdot$ $\cdot$		$\mathbf{0}=\mathbf{0}$	$\cdot$	$\mathbf{r}$	$\mathbf{r}$
	(ii) Deferred tax relating to items that will be reclassified to (i) Exchange differences in translating the financial ii. Items that will be reclassified to profit & loss statements of foreign operations (ii) Others				$\mathbf{r}$	$1 - 1$	66.75 $-35.56$	$-432.83$ 121.73	$-55.23$ 30.84 $-0.37$	$-241.20$ 56.83	$-70.52$ 70.86	$-181.18$ 30.84	$-251.69$ 30.84 70.86
$\bar{\mathbf{x}}$	Total Comprehensive Income for the period	441.26	1,171.55	2,056.47	7,426.03	5,720.51	1,887.67	2,413.26	$-1,391.02$	12,464.54	3,190.06	5,543.65	8,733.71
$\overline{\mathbf{x}}$	Profit/(Loss) attributable to: ii. Non-controlling interests i. Owners of the Company	$\cdot$ $\cdot$	$\cdot$ $\cdot$		$\mathbf{r}$	$\cdot$	1,810.76 67.96	2,583.62 139.25	$-1,431.55$ 59.77	12,372.16 294.11	2,974.59 197.90	2,903.94 2,790.05	5,878.53 2,987.96
睘	Other Comprehensive income attributable to: ii. Non-controlling interests i. Owners of the Company						14.95 -6.00	$-335.05$ 25.44	$-6.00$ $-13.25$	$-149.96$ -51.77	-53.17 70.73	$-76.68$ $-73.66$	$-129.85$ $-2.93$
$\geq$	Total Comprehensive income attributable to: ii. Non-controlling interests i. Owners of the Company					$\cdot$ $\cdot$	1,825.71 61.96	2,248.57 164.69	$-1,437.55$ 46.52	12,222.20 242.34	2,921.42 268.63	2,827.26 2,716.39	5,748.68 2,985.03
š	Paid up equity share capital (Face Value - Re. 1/-each.)	1,031.47	1,031.47	1,031.47	1,031.47	1,031.47	1,031.47	1,031.47	1,031.47	1,031.47	1,031.47	1,031.47	1,031.47	AND SN
$\overline{\mathbf{x}}$	Earnings Per Share Basic & Diluted (Not annualised)	0.45	1.13	1.97	7.22	5.53	1.76	2.50	$-1.39$	11.99	2.88	2.82	5.70

BLISSGVSPHARMALIMITED Regd. Office - 102, Hyde Park, Sakinaka Road, Andheri (East) - Mumbai - 400072

Statement of Assets and Liabilities as on March 31,2019

No	Pa rti lar cu s			Sta nd alo ne		C lid d ate on so
				31 .03 .20 19	31 .03 .20 18	3 1.0 3.2 01 9	3 1.0 3.2 01 8
				Au dit ed	Au dit ed	Au dit ed	Au dit ed
			AS SE TS No
1			t ets n-c urr en ass
	(a)		P Pl nd Eq uip ert t a nt rop y, an me	7,7 90 .21	7,2 03 .80	13 ,47 9.3 5	12 ,63 0.9 7
	(b)		Ca pit al ork -in W -P ro gre ss	4 ,29 1.3 5	46 .97	4,6 74 .40	46 .97
	(c)		I Pr est nt ert nv me op y	9.2 6 6	85 .78	.26 69	62 7.0 8
	(d)		O the gib le As Int set r an s	41 .49	44 .28	5 2.6 8	51 .78
	(e)		Go od wi ll		-	96 4.7 7	4.7 96 7
	(f)		Fin cia l A ts an sse
		(i)	Inv tm ts es en	1,8 31 .27	1,8 31 .27	2.4 7	2.4 6
		(ii )	Lo an s	16 5.2 4	16 4.6 7	18 7.6 4	17 6.5 8
		(ii i)	Ot he rs	-		0.4 7
	(g)		Ot he r N Cu As nt set on rre s	1,6 05 .82	2,3 94 .96	1,6 95 .17	2,5 24 .04
				IS ,79 4.6 4	11 ,77 1.7 3	21 ,12 6.2 0	17 ,02 4.6 S
2			Cu nt ets rre ass
	(a)		Inv ies tor en	5,4 84 .50	3,9 79 .61	7 ,73 6.7 4	5,9 .35 03
	(b)		Fin cia l A ts an sse
		(i)	ad iva ble Tr Re e ce s	34 ,20 8.8 0	28 ,25 4.3 1	4 6,0 72 .99	29 ,84 8.3 9
		(ii )	Ca sh d Ca sh Eq uiv ale nts an	1,3 75 .05	2,4 44 .82	1,5 03 .93	3,6 94 .96
		(ii i)	Ba nk Ba lan the ha (ii i)a bo r t s o n ce ve	7,9 53 .97	4,5 84 .60	9 ,15 8.8 7	5,1 90 .66
		(iv )	Lo an s he ina ial	4,0 93 .56 55 .26	9,3 59 .73	3 1.8 2	88 .55
	(c)	(v)	Ot r F As set nc s Cu nt tax ets	2,1 -	2,6 31 .31 -	1,8 58 .90 19 .18	9,6 78 .58 2.9 8
	(d)		(ne t) rre ass O the r C t A ts urr en sse	2,5 19 .32	6,3 74 .52	2 ,97 9.0 7	14 ,57 1.2 9
				57 ,79 0.4 6	57 ,62 8.9 0	6 9,3 61 .50	68 ,97 8.7 6
			To tal As s ( 1+ 2) set	73 ,58 5.1 0	69 ,40 0.6 3	9 0,4 87 .70	8 6,0 03 .41
			EQ UI TY AN D L IA BI LI TI ES
1			Sh ho lde rs' Fu nd are s
	(a) (b)		Sh Ca pit al are Ot he ity r E	1,0 31 .47 59 ,29 5.8 9	1,0 31 .47 53 ,11 0.7 5	1,0 31 .47 63 ,56 8.3 9	1,0 31 .47 52 ,59 2.4 6
			qu . .	60 ,32 7.3 6	5 4,1 42 .22	6 4,5 99 .86	53 ,62 3.9 3
2			No n C llin Int tro st on g ere	-	-	1,3 86 .43	1,1 47 .81
3			No Cu lia bil itie nt n- rre s
	(a)		Fin cia l L iab ilit ies an
		(i)	Bo wi rro ng s	3 ,05 2.7 5	55 4.6 7	3,2 53 .75	59 1.5 5
	(b)		Pr isi ov on s	17 5.0 6	19 1.0 8	17 5.0 6	19 1.0 8
	(c)		fer red Li ab ilit ies De T (N et) ax	83 1.9 1	82 7.3 3	3 57 .30	50 9.4 4
	(d)		Ot he Cu Li ab ilit ies r N nt on rre	-		12 .78	-
				4,0 59 .72	1,5 73 .08	3 ,79 8.8 9	1,2 92 .07
4			Cu lia bil itie nt rre s
	(a)		Fin cia l L iab ilit ies an
		(i)	Bo wi rro ng s	3,6 64 .34	8,2 52 .56	,42 9.5 6 6	10 ,56 5.6 0
		(ii )	Tr ad Pa ble e ya s
			Ou din du of mi pri nd all pri tst ter ter g es cro a an en ses sm en ses	8 29 .06	1,1 68 .73	82 9.0 6	1,1 68 .73
			Ou din du of oth tha mi pri d all tst ter an g es er n cro en ses an sm
			pri ter en ses	2,2 57 .49	2,3 65 .59	7 ,06 5.8 2	4,6 74 .61
	(b)	(ii i)	Ot he r F ina ial Li ab ilit ies nc Ot he r C t L iab ilit ies	2,1 52 .20 19 4.3 9	93 4.1 9 24 6.3 8	2,6 50 .87 2,3 66 .21	1,6 05 .95 10 0.1 7
	(c)		urr en isi P rov on s	24 .49	14 1.1 8	49 4.4 2	,84 50 5.6 2
	(d)		Cu Li ab ilit ies (N et) ntT ax rre	76 .05	57 0 6.7	86 6.5 8	57 8.9 2
				9,1 98 .02	13 ,68 5.3 3	2 0,7 02 .52	2 9,9 39 .60

~ /)

Notes:

• The above results which are published in accordance with Regulation ³³ of the SEBI (Listing Obligation & Disclosure Requirements), 2015 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on May 18, 2019. The financial results are in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules in this regard.
• 2 The disclosure is an extract of audited financials statement as at March 31,2019 prepared in compliance with the Indian Accounting Standard (Ind AS) which have been audited by statutory Auditor.The statutory auditors, Kalyaniwalla & Mistry LLPhave issued repor^t with unmodified opinion on the standalone and consolidated financial results.
• 3 The Ministry of Corporate Affairs (MCA),on March 28, 2018, notified Ind AS 115 "Revenue from Contracts with Customers" as par^t of the Companies [Indlari Accounting Standards) Amendment Rules, 2018 and the same is effective for accounting periods beginning on or after April 1,2018. The adoption of this standard did not have any material impact to the financial statements of the Company.
• 4 As the Company's business activity falls within ^a single operating segmen^t viz "Pharmaceutical and I-Iealthcare", no segmen^t information is disclosed.
• 5 During the quarter ended March 31, 2018 ^a material stepdown subsidiary namely Bliss GVS I-Iealthcare Limited, Nairobi was disinvested and the analysis of revenue, expenses and profit & loss of discontinuing operations has been disclosed in consolidated results for the year ended March 31, 2018 as per para 331b)of Ind AS 105 'Non-Current Assets held for Sale and Discontinuing Operations'. Accordingly, Revenue from operations and expenses for the quarter and the year ended March 31, 2019 is not comparable with the quarter and year ended March 31,2018.
• 6 Other income includes foreign exchange loss of Rs.605.92 Lakhs in standalone and consolidated financial result for the quarter ended December 31,2018.
• 7 For financial year 2019, the board recommended final dividend Re. 1/- per equity share .The paymen^t is subject to the approval of the shareholder in the ensuing Annual General Meeting of the company.
• 8 In the current 'Quarter, Other expenses includes bad debts written olIofRs. 860.91 Lakhs.
• 9 During the current quarter, additional provision for tax amounting to INR375.22 Lakhs has been made due to revision in estimates of taxable income.
• 10 The figures for the quarter ended March 31, 2019 and March 31 2018 are the balancing figures between audited figures in respec^t of the full financial year ended March 31,2019 and the year to date published result for the nine months ended December 31,2018 and December 312017.
• 11 Previous year figures have been regrouped/reclassified wherever necessary.

Place: Mumbai Date: May 18, 2019

S. N Kamath

For BLISS GVS PHARMA LIMITED

Managing Director Din No : 140593

KALYANIWALLA & MISTRYLLP

CHARTERED ACCOUNTANTS

Auditor's Report on Quarterly and Annual Standalone Financial Results pursuan^t to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors Bliss GVS Pharma Limited 102, Hyde Park, Saki Vihar Road, Andheri (East), Mumbai, 400072

• We have audited the accompanying Standalone Financial Results of Bliss GVS Pharma Limited ("the Company") for the quarter ended and year ended March 31, 2019 ("the Statement"), attached herewith, being submitted by the Company pursuan^t to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended and read with SEBI Circular No CIRlCFDIFAC/62/2016 dated July 5, 2016. 1.
• These quarterly and annual standalone financial results have been prepared on the basis of the standalone Ind AS financial statements, which are the responsibility of the company's management, which have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 2.
• Our responsibility is to express an opinion on these standalone Ind AS financial results based on our audit of such standalone Ind AS financial statements. Attention is drawn to the fact that the figures for the quarter ended March 31, 2019 as reported in these results are the balancing figures between the audited figures in respec^t of the year ended March 31, 2019 and the published year to date figures up to the end of the third quarter of the relevant financial year. Also, the figures up to the end of the third quarter had only been reviewed and not subjected to audit. 'J,
• 1. We conducted our audit in accordance with the Standard on auditing specified under section 143(10) of the Companies Act, 2013. Those Standards require that we comply with ethical requirements and ^plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the Company's internal financial control with reference to the Statement. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement.

Page 1 of2

• 1. In our opinion and to the best of our information and according to the explanations given to us, these quarterly and annual standalone financial results:
• i. are presented in accordance with the requirements of Regulation 33 of the SEBJ (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and read with SEBI Circular No CIRlCFDIFAC/62/2016 dated July 5, 2016; and
• ii. give ^a true and fair view in conformity with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the profit, total comprehensive income and other financial information for the quarter and for the year ended March 31, 2019.
• 1. We draw attention to our reliance on the managemen^t representation in respec^t of the recoverability of the company's investment in, loans given, interest accrued and Trade receivable to two of its subsidiaries aggregating to Rs. 4,104.12 Lakhs.

Our opinion is not modified in respec^t of this matter.

For KAL YANIW ALLA & MISTRY LLP CHARTERED ACCOUNTANTS Firm Registration No. 104607W ^I W100166

fj-['c;J ~

Sai Venkata Ramana Damarla Partner Membership. No. 107017 Place: Mumbai Dated: May 18,2019

KALYANIWALLA & MISTRYLLP

CHARTERED ACCOUNTANTS

Auditor's Report on Quarterly and Annual Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors Bliss GVS Pharma Limited 102, Hyde Park, Saki Vihar Road, Andheri (East), Mumbai - 400 072

• 1. We have audited the accompanying statement of Consolidated Financial Results of Bliss GVS Pharma Limited ("the Holding Company"),and its Subsidiaries (The Holding Company and its Subsidiaries together referred to as "the Group") for the quarter and year ended March 31, 2019 ("the Statement") attached herewith,being submitted by the Holding Company pursuan^t to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amendedand read with SEBI Circular No CIRlCFDIFAC/62/2016 dated July 5, 2016 in this regard.
• 1. These quarterly and annual consolidated financial results have been prepared on the basis of consolidated financial statements, which are the responsibility of the Holding Company's management. Our responsibility is to express an opinion on these consolidated financial results based on our audit of such consolidated financial statements, which have been prepared in accordance with the Indian Accounting Standards (Ind AS)notified under Section 133 of the Companies Act, 20Bread with relevant rules issued thereunder and other accounting principles generally accepted in India.Our responsihility is to express an opinion on these consolidated financial results based on our audit of such consolidated financial statements. Attention is drawn to the fact that the figures for the quarter ended March 31, 2019 as reported in these results are the balancing figures between the audited figures in respec^t of the year ended March 31,2019 and the published year to date figures up to the end of the third quarter of the relevant financial year. Also, the figures up to the end of the third quarter had only been reviewed and not subjected to audit.
• 1. We conducted our audit in accordance with the Standard on auditing specified under section 143(10) of the Companies Act, 2013. Those Standards require that we comply with ethical requirements and ^plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Holding Company's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the Holding Company's internal financial control with reference to the Statement. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement.

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We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred in paragraph 6 below, is sufficient and appropriate to provide ^a basis of our audit opinion.

• 1. Based on our audit, in our opinion and to the best of our information and according to the explanations given to us, the consolidated Ind AS Financial Results I Financial Statement include financial results of the following subsidiaries included in the consolidation:
• l. Include the annual financial results of the following entities; Incorporated in India:
  • 1. Kremoint Pharma Limited
  • 1.1. Eipii Exports Private Limited
  • 1.2. Eco Rich Cosmetics Private Limited

Incorporated outside India:

• 1. Bliss GVS International Pte. Ltd. 2.1. Greenlife Bliss Healthcare Limited
• 1. Bliss GVS Clinic Healthcare Pte. Ltd.
• 1. Asterisk Lifesciences Limited (UK) 4.1. Asterisk Lifesciences (GH) Limited
• ii, ha -e been presenteci in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amendedand read with SEBI Circular No. CIRlCFDIFACI62/2016 dated July OS, 2016 in this regard; and
• iii. give ^a true and fair view in conformity with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated profit, consolidated total comprehensive income and other financial information of the Groupfor thequarter and year ended March 31, 2019.
• 1. We did not audit the financial statements of the 8 Subsidairies I Step Down Subsidairies included in the statement, whose financials statement I financial information reflect the groups share for the quarter and year ended March 31, 2019 for the under mentioned items:

		(R	In L ak h s) s.
Sr	P ti la ar cu rs	Q de d rt ua er en	Y de d ea r en
N o		ch 3 1 20 19 M ar ,	ch 3 1 20 19 M ar ,
1	al T A ot et ss s	16 ,9 02 0 .6	16 ,9 02 .6 0
2	T al R ot ev en ue	13 ,7 67 .7 7	47 ,3 47 .4 4
3	P fi af T t te ax ro r	1 ,4 15 .1 8	5 ,2 22 .8 6

The Ind AS financial statement of these subsidiaries have been audited by other auditor whose repor^t has been furnished to us by the managemen^t and our opinion on the consolidated Ind AS financial statements, in so far as it related to the amounts and disclosures included in respec^t of these subsidiaries and our repor^t in terms of sub-section (3) of 143 of the Act, in so far as it relates

KALYANIWALLA

& MISTRY LLP

to the aforesaid subsidiaries, is based solely on the repor^t of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our opinion on the Statement is not modified in respec^t of the above matter.

For KALYANIWALLA & MISTRY LLP CHARTERED ACCOUNTANTS Firm Registration No. 104607W ^I WI00166

C?\'Jo,f fJ~

Sai Venkata Ramana Damarla Partner Membership. No. 107017

Place: Mumbai Dated: May 18,2019

BLISS GVS PHARMA LTO. .

May 18,2019

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Subject: Declaration pursuan^t to Regulation 33(3)(d) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the annual audited financial results for the year ended March 31, 2019

Dear Sir/Madam,

We, Bliss GVSPharma Limited, shall hereby declare that, our Statutory Auditor has issued Audit Report with unmodified opinion on standalone and consolidated audited financial results of the Company for the year ended March 31,2019.

Kindly take the same on your record.

Thanking You, Your Faithfully,

Factory : Regd. Office: 102, Hyde Park, Saki Vihar Road,Andheri (East), Mumbai - 400 072, INDIA. TEL. : (+91) (22)42160000/ 28505387 • FAX.: (+91) (22) 28563930, Email: info@blissgvs.com • Website: www.blissgvs.com • CIN - L24230MH1984PLC034771 Plot No.1 0 & 11Survey No. 38/1, Dewan Udyog Nagar,Aliyali Village, Tal. & Dist. Palghar- 401404. Tel. (+91) (02525) ²⁵²⁷¹³ • Fax: (+91) (02525)255257.• Email: factory@blissgvs.com

Brief Profile of Directors of the Company

Mr. Shibroor Narshima Kamath, Managing Director of Bliss GVS Pharma Limited, ^a fast growing pharmaceutical company. He is ^a hard core businessman and promoter of the Company having more than 35 years of experience in Pharma Industry as ^a supplier and trader in Suppositories and Pessaries dosage forms. He has established name and has proven track record of last 3 decades. Under his wings, the Company has received "Outstanding Export Performance Award from Pharmexcil in recognition of commendable expor^t performance in the category of Small Scale Industries for 2008-09and ^a National Award from Government of India in recognition for his Outstanding Performance in Entrepreneurship under medium enterprises category.

Mr. S. N. Kamath is not related to any of the others Directors and Key Managerial Personnel of the Company excep^t Mrs. Shruti Rao and Dr. Vibha Sharma are immediate relatives and directors of the Company.

Mrs. Shruti Vishal Rao, Whole-Time Director of Bliss GVS Pharma Limited, ^a fast growing ^pharmaceutical company. She holds ^a bachelor's degree in Engineering from Mumbai University. She is the daughter of Mr. S. N. Kamath and has significant years of experience in the pharmaceutical business. She is ^a par^t of promoter group exclusively working for the company and oversees the day to day commercial and trading activities ofthe Company in India & abroad.

Mrs. Shruti Rao is not related to any of the others Directors and Key Managerial Personnel of the Company excep^t Mr. S. N. Kamath and Dr. Vibha Sharma are immediate relatives and directors of the Company.

Dr. Vibha Gagan Sharma, Whole-Time Director of Bliss GVS Pharma Limited, ^a fast growing ^pharmaceutical company. She holds ^a bachelor's degree in Dental Surgery from Rajiv Gandhi University of Health Sciences, Karnataka. She is the daughter of Mr. S. N. Kamath and has significant years of experience in the pharmaceutical business. She is ^a par^t of promoter group exclusively working for the company and oversees the research & development activities of the Company.

Dr. Vibha Sharma is not related to any of the others Directors and Key Managerial Personnel of the Company excep^t Mr. S. N. Kamath and Mrs. Shruti Rao are immediate relatives and directors of the Company.

Brief Profile of Internal Auditor of the Company

BOOGLOBAL

• );> BOO'sfoundation was done in the year 1963, the initial international organisation was known as the Binder Seidman International Group, formed by respected firms.
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• );> In the subsequent 50+ years, BOOhas grown into ^a US\$8 billion+ business, extending in across 162 countries and territories, with 80,087 people working out of 1,591 officesand they're all working towards one goal: to provide our clients with exceptional service.

Our Global CEO

• Mr. Keith Farlinger

Our Awards are

• lAB Network of the Year
• BOOSouth Africa: Best Tax Firm of the Year,2015
• BOOAustralia: Best Provider-Client Choice Awards
• BOOGlobal Outsourcing: International Payroll Award
• BOOSweden: BOORanked 1st for client Satisfaction
• BOOUK: RankedMarket Leader for client satisfaction

BOOINOlA LLP

• );> BOOIndia LLPis the India member firm of BOOInternational.
• );> BOOIndia offers strategic, operational, accounting and tax 8: regulatory advisory 8: assistancefor both domestic and international organisations acrossa range of industries. We are led by more than 140 Partners 8: Directors with ^a team of over 2400 professionals operating across 11 cities

Our Key People are

• Mr. Milind Kothari, ManagingPartner, BOOIndia LLP
• Mr. Kartik Radia, National Head, BusinessAdvisory Services

Auditors' Appointed

• Mr. Hiren Upadhyay, Partner, BusinessAdvisory Services

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Brief Profile of Secretarial Auditor of the Company

Mfs. Ramesh Chandra Mishra & Associates, Practicing Company Secretaries firm, was incorporated under the leading light of highly experienced and veteran professionals. The company came into existence with ^a view to provide broad spectrum of quality professional services in the domain of Corporate Management Consultancy" Over the years, with utmost dedication, we have been successfully serving the clientele with the unparalleled services that has helped us to boast our prominent position in the market.

Mj s. Ramesh Chandra Mishra & Associates is owned by Mr. Ramesh Chandra Mishra. He is ^a Law Graduate, Post Graduate Diploma in Computer Application and ^a Fellow member (FCS)of the Institute of Company Secretaries of India. He is having more than 20 years of experience in Corporate Secretarial and Legal Advisory Service. He is ^a known exper^t in the field of Company Law and other various Corporate Laws. He is also specialized in handling litigation matters before National Company Law Tribunal (NCLT), National Company Appellate Tribunal (NCALT) and Securities Appellate Tribunal (SAT).