BPL Ltd. — Interim / Quarterly Report 2022

Feb 14, 2022

BPL Limited Dynamic House, 64 Church Street Post Box No. 5194 Bengaluru - 560 001, India. Ph: +91 80 25580490 E-mail: investor@bpl.in / Website: www.bpllimited.com CIN: L28997KL1963PLC002015

14th February 2022

The Manager - Listing,	The Manager - Listing
Corporate Relationship Department	National Stock Exchange of India Ltd.,
Bombay Stock Exchange Ltd	Exchange Plaza, C-1, Block G,
Phiroze Jeejeebhoy Towers	Bandra Kurla Complex,
Dalal Street	Bandra (E)
Mumbai- 400 001	Mumbai - 400 051
Scrip code - 500074	Trading Symbol - BPL

Dear Sir/Madam,

Sub: Outcome of the Board Meeting held on 14th February 2022

As informed in our letter 4th February 2022 and in accordance with provision of Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform your good selves that the Directors of the Company at their Meeting held today, have approved the following:

1. Considered and approved the Un-audited Financial Results of the company for the Third quarter (Q3) and nine months ended 31st December 2021

The Board Meeting commenced at 11.30 AM and ended at 02.02 PM

We enclose herewith the following document:

1. The unaudited Financial Results on Standalone basis along with Limited Review Report of the Statutory Auditors for Q3 of FY 2021-22

Please take the same on record.

Thanking you, Very truly yours, BPL LIMITED

Deepika N Bhandiwad Company Secretary & Compliance officer Encl: $a/a$

BPL Limited Regd.Office: BPL Works, Palakkad - 678 007, Kerala. CIN - L28997KL1963PLC002015 E-mail: Investor@bpl.in, URL:www.bpl.in, Tel: No. +91 80 25589109

Statement of Standalone Unaudited Financial Results for the Quarter and Nine months ended 31st December, 2021

		Quarter Ended			Nine Months Ended		Year Ended
SI.
nos		31-12-2021	30-09-2021	31-12-2020	31-12-2021	31-12-2020	31-03-2021
	Particulars	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	REVENUE
$\mathbf l$	Revenue from operationsOther Income (net)	1,327.68	971.57	1,035.00	2,894.78	2,885.09	4,375.69
Ш	Total Income (I+II)	14.26	319.30	32.65	346.55	93.88	108.30
		1,341.94	1,290.87	1,067.65	3,241.33	2,978.97	4,483.99
IV	EXPENSES
	Cost of material consumed	886.15	668.15	486.94	1,970.41	1,209.87	2,190.14
	Purchases of Stock-in-Trade	11.45	3.81	257.53	46.59	646.81	489.62
	Changes in inventories of finished goods, Stock-in-Trade and work-
	in-progress	20.65	1.03	25.83	(16.59)	209.38	255.48
	Employee benefits expense	178.28	163.91	161.74	504.31	478.23	653.13
	Finance costs	41.31	44.45	70.62	134.71	148.05	203.16
	Depreciation and amortization expense	41.82	42.03	41.89	125.84	127.15	168.40
	Other expenses	105.94	100.90	101.59	275.73	363.42	578.70
	Total Expenses	1,285.58	1,024.28	1,146.14	3,040.98	3,182.91	4,538.63
$\vee$	Profit/(loss) before exceptional items and tax (III-IV)	56.36	266.59	(78.49)	200.35	(203.94)	(54.64)
VI	Profit/(loss) before tax (V-VI)	56.36	266.59	(78.49)	200.35	(203.94)	(54.64)
VII	Tax Expense:
	(1) Current Tax
	(2) Deferred Tax						2,091.85
VIII	Profit (Loss) for the period from continuing operations (VII-VIII)	56.36	266.59	(78.49)	200.35	(203.94)	(2, 146.49)
IX	Profit/(loss) for the period (IX+XII)	56.36	266.59	(78.49)	200.35	(203.94)	(2, 146.49)
X	Other Comprehensive Income
	A $(i)$ Items that will not be reclassified to profit or loss
							43.09
	Total Comprehensive Income for the period (Comprising Profit
XI	(Loss) and Other Comprehensive Income for the period)	56.36	266.59	(78.49)	200.35	(203.94)	(2, 103.40)
XII
	Paid-up equity share capital: (Face value Rs.10 each)Earnings per equity share (for continuing operation):	4,888.48	4,888.48	4,888.48	4,888.48	4,888.48	4,888.48
	$(1)$ Basic
	(2) Diluted	0.120.12	0.55	(0.16)	0.41	(0.42)	(4.30)
			0.55	(0.16)	0.41	(0.42)	(4.30)

Notes:

• 1. The above results have been reviewed by the Audit Committee and approved and taken on record by the Board of Directors at their respective meetings held on 14th February 2022.
• 1. The Financial results for all the periods presented above have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time.
• 1. The format for audited quarterly / yearly results as prescribed in SEBI's Circular CIR/CFD/CMD/15/2015 dated 30 November 2015 has been modified to comply with requirements of SEBI's circular dated 5th July 2016, Ind AS and Schedule III (Division II) to the Companies Act, 2013, applicable to companies that are required to comply with Ind AS.
• 1. The estimated amount of contingent liabilities as on 31st December 2021 is Rs. 83.73 Crores.
• 1. An unsecured claimant had obtained an order against the Company from single Bench of the Honorable High Court of Delhi, confirming the order of a Sole Arbitrator. The Company has filed appeal against the said order with the Division Bench of Honorable High Court of Delhi. The Company is hopeful of getting a favorable order on merit; hence, no provision is made in the books of accounts for the claim.
• 1. Preference Shares issued by the company have become due as per the terms on which they were issued and have not yet been redeemed. Pursuant to the provisions of Section 55 of the Companies Act, 2013, Preference Shares can be redeemed only out of profits that are otherwise available for dividend. The Company doesn't have sufficient accumulated profit for distribution as dividend.
• 1. Company is yet to make contribution towards Gratuity Fund. Company is making necessary arrangements to fund the same in instalments, over a period of time.
• 1. The company is engaged in manufacturing & trading of consumer electronic goods, and therefore, has only one reportable segment in accordance with Ind AS 108 "operating segments".
• 1. The Company has considered the possible effects of COVID-19 pandemic in the preparation of the financial results including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptions to the possible future uncertainties in the global economic conditions on account of pandemic, the Company has, at the date of approval of the

financial results, used internal and external sources of information and expects that there will not be any negative impact on the carrying amount of these assets.

• 1. Provision for Deferred Taxation as per Ind AS-12 "Income Tax" provision for current Tax and employee benefits as per Ind AS 19 "Employee Benefits" will be made at the end of the year.
• 1. Previous period figures have been regrouped / reclassified to conform to current period's presentations.

For and behalf of the Board of BPL Limited

Ajit G Nambiar (Chairman & Managing Director)

Place: Bangalore

Date: 14th February, 2022

MKUK & ASSOCIATES CHARTERED ACCOUNTANTS

Limited Review Report

To The Board of Directors, BPL Limited.

v.

We have reviewed the accompanying unaudited financial results of BPL Limited (the 'Company") for the period ended December 31, 2021, together with the relevant notes thereon (the 'Statement'). The Statement has been prepared by the Company pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations, 2015') read with SEBI circular dated July 5, 2016.

The Statement is the responsibility of the Company's management and has been approved by the Board of Directors. Further, the Management is also responsible to ensure that the accounting policies used in preparation of this Statement are consistent with those used in the preparation of the Company's opening unaudited Balance Sheet as at April 1, 2016 prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies. Our responsibility is to issue a report on the Statement based on our review.

We conducted our review in accordance with the Standard on Review Engagements (SRE) 2400, "Engagements to review financial statements" 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 provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with Ind AS and other recognized accounting practices and policies, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015 read with SEBI circular dated July 5, 2016 including the manner in which it is to be disclosed, or that it contains any material misstatement, except for impact (if any), of matters mentioned in note nos: $6 & 7$ of notes accompanying unaudited financial results.

For MKUK & ASSOCIATES Chartered Acopuntants K&ASSOC $(FRN)/050113S)$

BANGALORE TO JOSEPH (203958) PARTNER

Place: Bangalore Date: 14.02.2022

UDIN NO:2203958ABZQEQ4963