Borosil Limited — Interim / Quarterly Report 2022

Feb 7, 2022

BOROSl @ Bomsil Limited L OH:MOCW.~~Z~

February 7, 2022

BSE Limited	National	Stock	Exchange	of	India
Phiroze Jeejeebhoy Towers,	Limited
Dalal Street,	- Exchange Plaza, C-I , Block G,
- Mumbai 400 001	Bandra Kurla Complex,
	Bandra (East),
	- Mumbai	400 051

Dear Sir / Madam,

Sub: Outcome of Board Meeting held on February 7, 2022 & Unaudited Financial Results

Scrip Code: 543212 Symbol: BOROLTD Series EQ ISIN: INE02PY01013

This is to intimate that the Board of Directors of the Company at its meeting held today, i.e. February 7, 2022, inter alia, have considered and approved the following:

I. Unaudited Financial Results for the quarter and nine months ended December 31,2021

Un-audited Financial Results (Standalone and Consolidated) for the quarter / nine months ended December 31, 2021, under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015) along with Extract of Results to be published in newspaper (Copy attached);

Limited Review Report on the aforesaid Results from the auditors of the Company placed before the Board of Directors (Copy attached).

1. Composite Scheme of Arrangement amongst Borosil Limited ("Demerged Company") and Klass Pack Limited ("Resulting Company" or "Transferee Company) and Borosil Technologies Limited ("Transferor Company") and their respective shareholders and creditors ("Scheme"), under Sections 230 to 232 of the Companies Act, 2013

The Board of Directors of the Company have considered and approved a draft Composite Scheme of Arrangement amongst Borosil Limited ("the Company" or "Demerged Company") and Klass Pack Limited ("Resulting Company" or "Transferee Company) and Borosil Technologies Limited ("Transferor Company") and their respective shareholders and creditors ("Scheme"), inter alia providing for:

• a. reduction and reorganisation of share capital of the Resulting Company;
• b. demerger, transfer and vesting of the Demerged Undertaking (as defined in the Scheme) from the Company into the Resulting Company on a going concern basis and consequent issue of shares by the Resulting Company and reduction and cancellation of the existing paid-up equity share capital of the Resulting Company held by the Company; and
• c. amalgamation of the Transferor Company with the Transferee Company.

Post effectiveness of the Scheme, the equity shares of the Resulting Company will be listed on BSE Limited and the National Stock Exchange of lndia Limited (collectively referred to as "Stock Exchanges").

The Appointed Date of the Scheme is April I, 2022 or such other date as may be decided by the Board of the Parties (as defined in the Scheme).

The Scheme is subject to receipt of approvals from the SEBl through the Stock Exchanges, the Stock Exchanges, the Hon'ble National Company Law Tribunal, Mumbai Bench ("NCLT"), shareholders and creditors of the Company (as applicable) and approval of other regulatory or statutory authorities as may be required.

The details as required to be disclosed under Regulation 30 of Securities and Exchange Board of lndia ("SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect of this item, read with SEBl Circular No CIR/CFDICMD/4/2015 dated September 9, 2015, will be submitted separately.

The Meeting of Board of Directors of the Company commenced at 1:44 p.m. and concluded at 3\$!30 p.m.

This intimation is also being uploaded on the Company's website at www. borm#.,wm.

You are requested to take note of the same.

Thanking you. - -

Yours faithfully, For Borosil Li

'dompany Secretary and Compliance Officer FCS-9921 Encl: As above

BOROSlL LIMITED

CIN: L361 WMH2010PLC292722

Regd. Office : 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra KurIa Complex, Bandra (East), Mumbai 400 051 Tel.N0.(022) 67406300 Fax No.(022) 67406514 Website : www.barosil.com Email : borcsll@borwil.com

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 3lST DECEMBER. 2021

	(Ra. in fakhs except as stated)
j. NO.	Perttculars		Quarter ended			Nine Months ended	Year ended
		(31fl212021)	(3010912021)	(3111212020)	(31fiZ/Z021)	(31112/2020)	(3110312021)
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I.	Income:
	Revenue From Operations	23.723.78	19.917.55	19,031 36	55.255.84	35.913.19	52.722 94
	Olher Income	786.01	396.13	616.44	1.962.46	1.143.85	1.638.43
	Total Income (I)	24.599.79	20.313.68	19.647.80	57.218.24	37,057.04	54,361.37
11.	Expenses:
	Cost of Materials Consumed	2.159.16	1.846.43	1.848.19	5.484.60	3.433.26	5.139 10
	Purchases of Stak-cn-Trade	9.210.10	7,000.74	4,807.29	20.709.03	9.371 74	13,675 84
	Changes In Inventories of Work-in-progress. Finished Goods and	(787.11)	(1.838.67)	1.719.47	(4,921.31)	3.568 81	3,781 41
	Stock-cn-trade Erndoyee Benefits Expense	2,129.07	2,128.15	1.852.91	6,170.25	5,150.71	7.216.44
	Finance Costs	12 80	8.96	10.75	34.03	- 127.98	176.16
	Depreciation and Amortization Expense	707.01	696.52	845.28	2,089.64	2,187.82	2,961.04
	Olher Expanses	7.455.85	6,508.75	5.518.92	18.685.02	10.044.94	15,377.15.
	Total Expenses (11)	20,886.88	16,350.88	16,602.81	48,251.26	33,885.28	48.327.16
Ill.	Profit Before exceptional items and Tax I1 - 11)	3,622.91	3,98280	3,044.99	8,967.04	3,171.78	6,034.21
N	Exceptional items (Refer Note 2)		43.53		646.50
V.	Proffl Before Tax (Ill - IV)	3,622.91	3,919.27	3,044.99	8.320.54	3.171.78	6,034.21
VI.	Tax Expense:
	(1) Currenl Tax (2) Deferred Tax (Refer Nole 3)	1.013.99 20S.84	1.169.11 241.52	769.37 97.56	2.304 27 1.513.86	769.37	1.059.42
	Total Tax Expenses	1.220.83	1.410.63	866.93	3.818.13	11601 885.38	897.63 1,957.05
VII.	Profit for the Period I Year (V - VI)	2,402.08	2.508.64	2.178.06	4,50241	2,286.40	4.077.16
VIII.	Other Comprehensive lncome (OCII
	iI ltems that will not be reclassified to profit or loss: I
	(losses) on defined benefit plans a) Re-measurement gains	15.43	20.30	(9.62)	45.22	(29 45)	38.08
	b) Income tax effect on above	(5 39)	(7.09)	2.80	115.80)	8 58	(1l.OSl
	Total Other Comprehensive Income	10.04	13.21	16.821	29.42	40.87)	26.98
IX.	I Year (VII + VIII) Total Comprehensive Income for the Period	2.412.12	2,521.85	2171.24	4.531.83	2.265.53	4.104.14
X.	Paid-up Equity Share Capital (Face value of Re. 11- each fully	1,141.55	1141.19	1.140.60	1.141.55	1,140.60	1.141.19
XI.	paid up) (Refer Note 4) Other Equity excluding Revaluation Reserve						68,831.60
XII.	Earning per equity share (in Rs.) (Face value of Re. If- each)
	Bascc (Not Annualii)'		'	'	'	'
	Dcluied (Not Annuatised)'	2.10' 2.10'	2.20 220'	' 1.91 1.91	' 3.95	' 2.00	3.57
					3.95	2.00	3 57 -

BOROSIL LIMITED

		(Rs. in lakhs
		Standalone
	S. No. Particulars	Quarter ended				Nine Months ended	Year ended
		(31/12/2021)	(30/09/2021)	(31/12/2020)	(31/12/2021)	(31/12/2020)	(31/03/2021)
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Segment Revenue:
	a. Scientificware	4,260.05	4,203.20	3,834.01	11,704.32	9,240.38	14,243.89
	Consumerware b.	19,463.73	15,714.35	15, 197. 35	43,551.52	26,672.81	38.479.05
	Total	23,723.78	19,917.55	19,031.36	55,255.84	35,913.19	52,722.94
	Less : Inter Segment Revenue	$\bullet$	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$		۰.
	Revenue from operations	23,723.78	19,917.55	19.031.36	55,255.84	35,913.19	52,722.94
$\overline{2}$	Segment Results (Profit before tax): a. Scientificware
	Consumerware	547.75	1,243.19	975.79	2,204.36	1,623.26	3,013.30
	b. c. Investments	2,562.58 630.98	2,718.15 90.72	1,735.30 497.48	5,837.04 1,173.08	1,346.34 715.95	2,776.56
	Total	3,741.31	4,052.06	3,208.57	9,214.48	3,685.55	937.87 6,727.73
	Less:- Finance Cost	12.80	8.96	10.75	34.03	127.98	176.18
	Less:- Exceptional Items (Refer Note 2)		43.53		646.50
	Less:- Other unallocable expenditure (net of income)	105.60	80.30	152.83	213.41	385.79	517.34
	Profit before Tax	3.622.91	3.919.27	3,044.99	8,320.54	3,171.78	6,034.21
3	Segment Assets
	a. Scientificware	9,998.21	9.102.41	9,572.82	9,998.21	9,572.82	9,542.59
	Consumerware	35,623.57	32,921.36	27,729.94	35,623.57	27,729.94	25,779.09
	Investments C.	28,886.66	27.627.44	25,221.97	28,886.66	25,221.97	31,453.46
	d. Un-allocated	17, 186. 17	19,111.89	17,775.23	17, 186. 17	17,775.23	15,710.50
	Total	91,694.61	88.763.10	80,299.96	91,694.61	80,299.96	82,485.64
4	Segment Liabilities
	a. Scientificware	3,461.83	3,056.76	2,445.31	3,461.83	2,445.31	2,935.68
	Consumerware b.	10,886.90	11,130.21	7,530.63	10,886.90	7,530.63	7,166.13
	c. Investments	54.77	78.01	53.43	54.77	53.43	85.20
	d. Un-allocated	3,786.37	3,491.13	2,212.96	3,786.37	2,212.96	2.325.84
	Total $M = 4 - 1$	18,189.87	17,756.11	12,242.33	18,189.87	12,242.33	12,512.85

UNAUDITED STANDALONE SEGMENT INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED 31st DECEMBER, 2021

Note :
As per Indian Accounting Standard 108 on 'Operating Segment' (Ind-AS 108), the Company has reported "Segment information", as described below.

Scientificware: Comprising of manufacturing and trading items used in Laboratories and Scientific ware.

Consumerware:- Comprising of manufacturing and trading items for Domestic use.

Investments:- Comprising of Investment activities. As the investments are not held as stock in trade, the income from investment activities has not been considered as segment revenue and accordingly not disclosed.
Unallocated:- Consists of income, expenses, assets and liabilities which can not be directly identified to any of the above segments.

• 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 7"' February, 2022. The Statutory Auditors of the Company have carried out a Limited Review of the above results.
• As reported earlier, there was loss of properties (including fixed assets and inventories) of Rs. 4,233.85 Lakhs due to fire at the Company's warehouse situated at Bharuch, Gujarat and Rs. 236.14 Lakhs due to heavy rain resulting in overflow of Kamvan river in Bhiwandi which caused water logging leading to spoilage of inventories at the Company's warehouse situated at Bhiwandi, Maharashtra. The Company has insurance in place to cover the damages and accordingly received Rs. 3,297.58 Lakhs as part settlement of the claims till date. Settlement of balance claim amount is yet to be finalized by the Insurance Company. As per Internal estimates, Company has recognized net loss of Rs. Nil and Rs. 646.50 Lakhs for the quarter and nine months ended 3lSt December, 2021 respectively and the same has been disclosed as an exceptional item in the above results. Any difference between pending claim amount as estimated and claim settlement amount will be recognized upon the final settlement of such claims.
• 3. As reported earlier, the Finance Act 2021 has discontinued the depreciation allowance on goodwill from Financial Year 2020-21 onwards. This has resulted into onetime incremental deferred tax expense of Rs. 1,165.96 Lakhs for the nine months ended 31" December, 2021.
• 4. Pursuant to exercise of the options under "Borosil Limited Special Purpose Employee Stock Option Plan 2020", during the quarter, the Company has made allotment of 35,200 Equity Shares of the face value of Re. 1 each, which has resulted into increase of paid up Equity Share Capital by Rs. 0.35 Lakhs and Securities Premium by Rs. 67.81 Lakhs.
• 5. The figures for the previous period I year have been rearranged I regrouped, wherever necessary, to make them comparable.

Place: Mumbai

For Borosil Limited

Date :07.02.2022 Managing Director 8 (DIN 01802416)

lndependent Auditor's Review Report on Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors of Borosil Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Borosil Limited ("the Company") for the quarter ended 31St December, 2021 and for the period from lSt April 2021 to 31St December, 2021 ("the statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 201 5 ("the Listing Regulation"), as amended.
• 1. This statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, lnterim Financial Reporting (Ind AS 34) as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the statement based on our review.
• 3. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of lnterim Financial Information Performed by the lndependent Auditor of the Entity" issued by' the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and an analytical procedure 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.

4. Emphasis of Matter

We draw attention to Note 2 of the statement, in respect of loss of properties including fixed assets & inventories due to fire at Company's warehouse situated at Bharuch and loss of inventories due to heavy rain at the Company's warehouse situated at Bhiwandi. Pending finalization of balance Insurance claim, loss of Rs. Nil and Rs. 646.50 Lakhs for the quarter and nine months ended 3Ist December, 2021 respectively has been recognised as per Company's estimates. Our conclusion is not modified in respect of this matter.

5. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accon~panying statement of unaudited standalone financial results, prepared in accordance with the applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

6. Other Matter

Attention is drawn to the fact that the figures for the quarter and nine months ended 3ISt December, 2020 and for the year ended 31" March, 2021 are based on previously issued standalone financial results and annual standalone financial statements that were reviewedtaudited by predecessor auditor (vide their unmodified limited review report dated I lth February, 2021 and unmodified audit report dated 27th May, 2021 respectively). Our conclusion is not modified in respect of this matter.

For Chaturvedi & Shah LLP Chartered Accountants

R. Koria Partner. Membership No. 35629 UDlN No. 22035629AAPUND4480

Place: Mumbai Date: 7% February, 2022

BOROSIL LIMITED
CIN: L36100MH2010PLC292722

ouvintarizor or LCLC of the Start And Club, Bandra Kurla Complex, Bandra (East), Mumbal - 400 051
Tel.No.(022) 67406300 Fax No.(022) 67406514 Website : www.borosil.com Email : borosil@borosil.com

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2021

						(Rs. in lakhs except as stated)
S.No. Particulars		Quarter ended			Nine Months ended	Year ended
	(31/12/2021)	$(30/09/2021)$ $(31/12/2020)$			(31/12/2021) (31/12/2020) (31/03/2021)
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I. Income:
Revenue From Operations	26.009.15	22,183.34	20,522.57	61,980.79	40.071.15	58.476.93
Other Income	801.55	424.54	613.35	2,007.43	1,167.81	1,684.29
Total Income (I)	26,810.70	22,607.88	21,135.92	63,988.22	41,238.96	60.161.22
II. Expenses:
Cost of Materials Consumed	3,440.78	3,212.97	2,680.49	9.240.79	5.676.80	8.315.55
Purchases of Stock-in-Trade	8,426.60	6,384.95	4,433.45	18,733.20	8,573.40	12.276.61
Changes in Inventories of Work-in-Progress, Finished Goods and Stock-in- Trade	(619.55)	(1,997.99)	1,711,35	(4.747.94)	3,357.07	3,739.06
Employee Benefits Expense	2.579.12	2,525.81	2.138.36	7,354.89	6,015.90	8,423.70
Finance Costs	19.54	16.95	30.63	59.96	177.28	241.69
Depreclation and Amortization Expense	877.47	859.03	992.38	2,585.40	2,613.42	3,547.81
Other Expenses	8,290.99	7,339.93	6.062.46	21,026.87	11,491.97	17,492.86
Total Expenses (II)	23,014.95	18,341.65	18,049.12	54,253.17	37,905.84	54,037.28
(II. Profit before share of profit in associate, exceptional items and tax (I - II)	3,795.75	4,266.23	3,086.80	9,735.05	3,333.12	6,123.94
IV. Share of profit in associates
V. Profit before exceptional items and tax $(III + IV)$	3,795.75	4.266.23	3,086.80	9,735.05	3,333.12	6,123.94
VI. Exceptional items (Refer Note 2)		43.53	÷.	646.50
VII. Profit before tax (V - VI) VIII. Tax Expense:	3,795.75	4,222.70	3,086.80	9,088.55	3,333,12	6,123.94
(1) Current Tax	1.059.07	1,220.08	769.37	2,400.32	769.37	1,059.42
(2) Deferred Tax (Refer Note 3)	210.41	274.13	124.70	1,623.45	171.85	828.97
Total Tax Expenses	1,269.48	1,494.21	894.07	4,023.77	941.22	1,888.39
IX. Profit for the period / Year (VII - VIII)	2,526.27	2,728.49	2,192.73	5,064.78	2,391.90	4,235.55
X. Other Comprehensive Income
i) Items that will not be reclassified to profit or loss:
Re-measurement gains / (losses) on defined benefit plans	15.98	20.84	(9.76)	46.86	(29.85)	40.24
Income tax on above	(5.53)	(7.23)	2.84	(16.22)	8.69	(11.65)
Total Other Comprehensive Income	10.45	13.61	(6.92)	30.64	(21.16)	28.59
XI. Total Comprehensive Income for the period / year $(1X + X)$	2,536.72	2,742.10	2.185.81	5,095.42	2,370.74	4,264.14
XII. Profit attributable to:
Owners of the Company	2,483.18	2,680.20	2.175.22	4,927.16	2,352.02	4,210.43
Non-controlling interest	43.09	48.29	17.51	137.62	39.88	25.12
XIII. Other Comprehensive Income attributable to:
Owners of the Company	10.37	13.53	(6.92)	30.40	(21.17)	28.27
Non-controlling interest XIV. Total Comprehensive Income attributable to:	0.08	0.06		0.24	0.01	0.32
Owners of the Company	2,493.55	2,693.73	2,168.30	4,957.56
Non-controlling interest	43.17	48.37	17.51	137.86	2.330.85	4,238,70
XV. Paid up Equity Share Capital (Face value of Re. 1/- each fully paid up) (Refer	1,141.55	1,141.19	1,140.60	1,141.55	39.89	25.44
Note 4)					1,140.60	1,141.19
XVI. Other Equity excluding revaluation reserve
XVII. Earning per Equity Share (Face value of Re. 1/- each) (in Rs.)						68,334.12
Basic (Not Annualised)*	2.18	2.35	1.91'	4.32	$2.06$ $*$	3.69
Diluted (Not Annualised)*	2.18	$2.35$ $*$	1.91	4.32	$2.06$ $4$	3.69

BOROSIL LIMITED

UNAUDITED CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2021

							(Rs. in lakhs)
S.	Particulars		Quarter ended		Nine Months ended		Year ended
No.		(31/12/2021)	(30/09/2021)	(31/12/2020)	(31/12/2021)	(31/12/2020)	(31/03/2021)
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	1 Seament Revenue:
	a. Scientificware	6,545.42	6,468.99	5,325.22	18,429.27	13,398.34	19,997.88
	Consumerware b	19,463.73	15,714.35	15, 197.35	43,551.52	26,672.81	38,479.05
	Total	26,009.15	22, 183, 34	20,522.57	61,980.79	40,071.15	58,476.93
	Less : Inter Segment Revenue
	Revenue from operations	26,009.15	22,183.34	20,522.57	61,980.79	40,071.15	58,476.93
	2 Segment Results (Profit before tax and non-controlling interests):
	a. Scientificware	727.64	1,557.62	1,039.29	3,007.88	1,833.00	3,175.78
	b. Consumerware	2,562.58	2,718.15	1,735.30	5,837.04	1,346.34	2,776.56
	c. Investments	630.67	87.71	495.76	1,163.50	713.75	930.63
	Total	3,920.89	4,363.48	3,270.35	10.003.42	3,893.09	6,882.97
	Less:- Finance cost	19.54	16.95	30.63	59.96	177.28	241.69
	Less:- Exceptional item (Refer Note 2)		43.53		646.50
	Less:- Other unallocable expenditure (net of income)	105.60	80.30	152.92	213.41	382.69	517.34
	Profit before Tax	3,795.75	4,222.70	3,086.80	9.088.55	3.333.12	6,123.94
	3 Segment Assets
	a. Scientificware	22,161.45	18,792.27	18,599.47	22.161.45	18,599.47	19,029.49
	Consumerware b.	35.623.57	32,921.36	27,729.94	35,623.57	27,729.94	25,779.09
	Investments C.	19,732.26	20,465.08	18,424.63	19,732.26	18,424.63	24,548.22
	d. Un-allocated	18.285.35	20.230.31	18,923.49	18,285.35	18,923.49	16,903.40
	Total	95,802.63	92,409.02	83,677.53	95,802.63	83,677.53	86,260.20
	4 Segment Liabilities
	a. Scientificware	6.215.68	5,032.72	4,154,91	6.215.68	4,154.91	5,194.26
	Consumerware b.	10,886.90	11,130.21	7,530.63	10,886.90	7,530.63	7,166.13
	Investments C.	54.77	78.09	53.65	54.77	53.65	85.41
	d. Un-allocated	3,786.51	3,932.12	3,147.34	3,786.51	3,147.34	3,052.78
	Total	20,943.86	20.173.14	14,886.53	20,943.86	14,886.53	15,498.58
	Note:

note :
As per Indian Accounting Standard 108 on 'Operating Segment' (Ind-AS 108), the Company has reported "Segment Information", as described below:

Sclentificware:- Comprising of manufacturing and trading of items used in Laboratories, Scientific ware and pharmaceutical packaging.

Consumerware: Comprising of manufacturing and trading of items for Domestic use.

Investments:- Comprising of Investment activities. As the investments are not held as stock in trade, the income from investment activities has not been considered as segment revenue and accordingly not disclosed.

Unallocated:- Consists of income, expenses, assets and liabilities which can not be directly identified to any of the above segments.

• I. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 7'" February, 2022. The Statutory Auditors of the Company have carried out a Limited Review of the above results.
• As reported earlier, there was loss of properties (including fixed assets and inventories) of Rs. 4,233.85 Lakhs due to fire at the Company's warehouse situated at Bhasuch, Gujarat and Rs. 236.14 Lakhs due to heavy rain resulting in overflow of Kamvari river in Bhiwandi which caused water logging leading to spoilage of inventories at the Company's warehouse situated at Bhiwandi, Maharashtra. The Company has insurance in place to cover the damages and accordingly received Rs. 3,297.58 Lakhs as part settlement of the claims till date. Settlement of balance claim amount is yet to be finalized by the Insurance Company. As per Internal estimates, Company has recognized net loss of Rs. Nil and Rs. 646.50 Lakhs for the quarter and nine months ended 3lSt December, 2021 respectively and the same has been disclosed as an exceptional item in the above results. Any difference between pending claim amount as estimated and claim settlement amount will be recognized upon the final settlement of such claims.
• 3. As reporied earlier, the Finance Act 2021 has discontinued the depreciation allowance on goodwill from Financial Year 2020-21 onwards. This has resulted into onetime incremental deferred tax expense of Rs. 1,165.96 Lakhs for the nine months ended 3Ist December, 2021.
• 4. Pursuant to exercise of the options under "Borosil Limited Special Purpose Employee Stock Option Plan 2020", during the quarter, the Company has made allotment of 35,200 Equity Shares of the face value of Re. 1 each, which has resulted into increase of paid up Equity Share Capital by Rs. 0.35 Lakhs and Securities Premium by Rs. 67.81 Lakhs.
• 5. The fgures for the previous period I year have been rearranged / regrouped, wherever necessary, to make them comparable.

Place: Mumbai Date :07.02.2022 Managing

For Borosil Limited 2

Shreevar Director Kheruka 8 CEO (DIN 0180241 6)

lndependent Auditor's Review Report on Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors of Borosil Limited

• We have reviewed the accompanying statement of unaudited consolidated financial results of Borosil Limited ("the Holding Companyn) and its subsidiaries (the holding Company and its subsidiaries together refer to as "the Group") for the quarter ended 3Ist December, 2021 and for the period from IS' April, 2021 to 3Ist December, 2021 ("the statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBl (Listing Obligation and Disclosure Requirements) Regulation, 2015 ("the Listing Regulation"), as amended.
• 1. This statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34) as prescribed under Section 133 of the Companies Act, 201 3 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the statement based on our review.
• 1. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the lndependent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Head Oflice: 714-715. Tulsiani Chambers. 212, Nanrnan Point Mumoai - 400 021. India. Tel . ial 22 3021 8500 Fax +91 22 3021 8595 URL . wv~v/.cas.~nc.in

Branch : Bengaluru

We also performed procedures in accordance with the circular no. CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Listing Regulations, as amended, to the extent applicable

CHATURVEDI SHAH ,,.j

Cr;cr;ared :.<?co~nior-j

• 1. The statement includes the results of the entities listed as per below: List of subsidiaries:
• 1. Klass Pack Limited
• 1. Borosil Technologies Limited
• 1. Acalypha Realty Limited

Emphasis of Matter

We draw attention to Note 2 of the statement, in respect of loss of properties including fixed assets & inventories due to fire at Company's warehouse situated at Bharuch and loss of inventories due to heavy rain at the Company's warehouse situated at Bhiwandi. Pending finalization of balance Insurance claim, loss of Rs. Nil and Rs. 646.50 Lakhs for the quarter and nine months ended 3ISt December, 2021 respectively has been recognised as per Company's estimates. Our conclusion is not modified in respect of this matter.

6. Based on our review conducted as above and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited consolidated financial results, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

We did not review the interim financial information/financiaI results of 3 subsidiaries included in the unaudited consolidated financial results, whose interim financial informationifinancial results reflect total revenue of Rs. 3,116.68 Lakhs and Rs. 8,893.33 Lakhs, total net profit after tax Rs. 152.80 Lakhs and Rs. 614.71 Lakhs and total comprehensive income of Rs. 153.21 Lakhs and Rs. 615.93 Lakhs for the quarter ended 3Ist December, 2021 and for the period from ISt April, 2021 to 3ASt December, 2021 respectively, as considered in the unaudited consolidated financial results. These interim financial information/financiaI results have been reviewed by other auditors, whose reports have been furnished to us by the Management and our conclusion on the statement, in so far as it relates to the amount and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and procedures performed by us as stated in paragraph 3 above.

Our conclusion on the statement is not modified in respect of the above matters with respect to our reliance on the work done and the report of other auditors.

Other Matter

Attention is drawn to the fact that the figures for the quarter and nine months ended 3Ist December, 2020 and for the year ended 3Ist March, 2021 are based on previously issued consolidated financial results and annual consolidated financial statements that were reviewedjaudited by predecessor auditor (vide their unmodified limited review reports dated llth February, 2021 and unmodified audit report dated 27th May, 2021 respectively). Our conclusion is not modified in respect of this matter.

For Chaturvedi & Shah LLP Chartered Accountants Reg- No. 101 720WWI 00355

R. Koria Partner Membership No. 35629 UDlN No. 22035629AAPUPF2715

Place: Mumbai Date: 7'h February, 2022

BOROSIL LIMITED

CIN: L36100MH201OPLC292722

Regd. Office : 1101, Crescenzo, G-8lock, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Tel.N0.(022) 67406300 Fax No.(022) 67406514 Website : www.borosil.com Email : borosil@borosll.com

EXTRACT OF UNAUDITED STANDALONE AND CONSOLlDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2021

(Re. in iakhs except as stated)
		Standalone		Consolidated
Particulars	Quarter ended	Nine months ended	Quarter ended	Quarter ended	Nine months ended	Quarter ended ,
	(3111212021)	(3111 212021)	(3111 212020)	(3111 212021)	(3111212021)	(3111 212020)
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudltad	Unaudited
Total income from operations	23,723.78	55.255.84	19,031.36	26,009.1 5	61,980.79	20,522 57
Net Profit for the period before Tax and Exceptional items	3,622.91	8,967.04	3,044.99	3,795.75	9,735.05	3,086.80
Net Profit for the period before Tax (After Exceptional items)	3,622.91	8,320.54	3,044.99	3.795.75	9,088.55	3,086 80
Net Profit for the period after Tax (After Exceptional items)	2.402.08	4,502.41	2,178.06	2,526.27	5,064.78	2,192.73
Total Comprehensive Income for the period (Comprising profit for the period (after tax) and other comprehensive income (after tax))	2.412.12	4,531.83	2.171.24	2.536.72	5,095.42	2,185.81
Equity Share Capital	1,141.55	1,141.55	1.140.60	1,141.55	1,141.55	1,140.60
Other Equity (Excluding Revaluation Reserve as shown in the Balance Sheet)
Earnlng per equity share (In Rs.) (Face value of Re. 11- each)						'
Baslc (Not Annualised)'	2.10'	3.95 *	1.91	2.18	4.32 *	1.91
Dlluted (Not Annuallsed)'	2.10 •	3.95	' 1.91 *	2.18	' 4.32	1.91

1. The above is an extract of the detailed format of Unaudited Standalone Exchanges on 7th February, 2022 under Regulation 33 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the said Financial Results are available on the Stock Exchanges website (w.bseindia.com and w.nseindia.com) and on the Company's website (www.borosil.com). Nine Months ended and Consolidated 31st December, 2021, Financial Results filed with the Stock for the quarter and

2. The above results have been reviewed by the Audit Cornminee and approved by the Board of D~rectors at their meeting held on 7th February. 2022. The Statutory Auditors of the Company have carried out a Limited Review of the above results.

For Borosil Limited

.-'

Shreevar ~heruk/ Managing Director & CEO (DIN 01802416)

Place : Mumbai Date: 07.02.2022