BROOKS LABORATORIES LIMITED — Annual Report 2021

Jun 30, 2021

Corp. Off.:- 201, "The Summit Business Bay" Behind Guru Nanak Petrol Pump, Off Andheri Kurla Road, Andheri (E), Mumbai - 400 093 (India) Ph. : +91 22 69073100 30" June, 2021 \

Dalal Street Bandra Kurla Complex

BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Mumbai-400001 Bandra (E), Mumbai-400051

Scrip Code: 533543 Symbol: BROOKS

Sub: Disclosure under Regulation 30 & Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015

Dear Sirs,

This has in reference to the regulation mentioned above:

We hereby inform you that the Board of Directors at its meeting held today 30" June, 2021 has, inter alia, approved the Audited Financial Results of the Company for Quarter & Year ended 31" March, 2021.

Enclosed please find herewith the following

• 1. Audited financial results of the Company for the financial year ended 31° March, 2021 and the financial results of the Company in respect of the fourth quarter of FY 2020-21.
• 1. Statement of Assets and Liabilities,
• 1. Cash Flow Statement,
• 1. The Auditors Report,
• 1. Declaration from the Company for Audit Report is of 'Unmodified Opinion',

The aforesaid result and report are attached for your record.

Thanking You,

Yours faithfully Foy-BROOKS LABORATORIES LIMITED

(Jyoti Sancheti) Company Secretary cum Compliance Officer Encl.: As above

Brooks Laboratories Limited

Statements of Audited Financial Results for the Quarter & Year Ended 31st March, 2021

	Statements of Audited Financial Results for the Quarter & Year Ended 31st March, 2021(Rs. In Lakhs)
	1 Income
	Revenue from operations	1,461.51	2,092.20	1,882.52}	7,724.69]	6,968.85	1,461.51	2,092.20	7,724.69
	Other Income	31.20	4.12	20.13	98.79	40.63	5.96	4.12	73.55
	Total income	1,492.71	2,096.32	1,902.65	7,823.48}	7,009.48	1,467.47	2,096.32	7,798.24
	2 /Expenses
	(a) Cost of materials consumed	666.32]	1,491.38	1,222.19]	4,656.93]	4,949.80	676.67	1,491.38	4,667.27
	(b) Purchase of Stock in Trade	22.24	149.62	61.48	423.65	61.48	22.24	149.62	423.65
	(c) Change in inventories of finished goods, work-in-	181.88	(205.98)	(59.71)	(333,58)	(328.90)	181.88	(205.98)	(333.58)
	progress and stock-in-trade
	(d) Employees benefits expenses	398.86	368.29	345.87	1,436.83)	1,338.41	398.86	368.29}	1,436.83
	(e) Finance Costs	73.91	77.58	88.63	309.41	335.03	74.34	77.58	309.84
	(f) Depreciation and amortization expenses(g) Other expenses	168.55560.58	172.32354.83	190.86397.27	709.291,464.48	664.761,340.27	173.59574.50	172.32364.86	714.331,478.43
	Total Expenses	2,072.34	2,408.04	2,246.59	8,667.00	8,360.85	2,102.08}	2,408.07	8,696.76
3	Profit/(Loss) before Share of Profit / (Loss) of
	Associate, exceptional item and tax	(579.63)		(311.72) — (343.94)	— (843.53))	(1,351.37)	(634.61)	— (311.75)]	(898.52)
	4/Share of Profit / (Loss) of Associate	-		-	-	-	(57.05)	56.25	(0.80)
	Profit/(Loss) before Exceptional item and tax	(579.63)	(311.72)}	— (343.94))	(843.53)	(1,351.37))	(691.66))	— (255.50))	(899.33)
	5 Exceptional itemsProfit/(Loss) from ordinary activities before tax	-	-	-_ (343.94)	-	-	-_ (691.66)	-	-
6	7 Tax Expense:	(579.63)	_(344.72)		—_-(843.53)}	(4,351.37)}		—_(255.50)]	(899.33)
	Deferred Tax Liability / (Assets)	-		340.84	-	174.37	322.99	-	322.99
	MAT credit reversal	-		911.85	-	911.85	-	-	-
	Tax of earlier years	WAowzs	-	-	715.23	-	wiped		715.23
	8 Net Profit/(loss) after tax9 Other Comprehensive Income	(1,294.85)	— (311.72)	(1,596.63)}	(1,558.75)	(2,437.60)}	(1,729.88)}	— (255.50)	(1,937.55)
	Items That will not be reclassified into Profit or loss
	Gain/ (Loss) on Defined Benefit Plans (Net ofActuarial
	Tax)	18.91	(2.71)	15.07	10.79	14.73	18.91	(2.71)	10.79
	10 Total Comprehensive income for the period	(1,275.94)	(314.43)	(1,581.56)	(1,547.96)	(2,422.87)	(1,710.97)	(258.21)	(1,926.76)
	Net Profit attributable toOwners of equity
	Non Controlling Interest	--	--	--		-	(1,729.88)-	(255.50)	(1,937.55)=
	Total Comprehensive Income attributable to
	Owners of Equity	-	-	-		-	(1,710.97)	(258.21))	(1,926.76)
	Non Controlling Interest	-	-	-			-	-	-
1 =	Paid-up equity share capital (Face Value of Rs. 10
	each)	2,470.28	2,470.28]	2,470.28)	2,470.28}	2,470.28)	2,470.28)	2,470.28)	2,470.28
	' Reserves (excluding Revaluation Reserve) as shown
	in the Audited Balance Sheet of previous year.	7,371.32	7,371.32	8,896.44	7,371.32	8,896.44		-	,
	13 Earnings per share (of Rs. 10/- each)
	annualised)(not
	(a)Basic	(5.17)	(1.27)	(9.07)	(6.31)	(13.84)	(6.93)	(1.03)	(6.31)
	(b)Diluted	(5.17)	(1.27)	(9.07)	(6.31)	(13.84)	(6.93)	(1.03)	(6.31)

Notes:

1 The above Financial Results of the Company have been reviewed by the Audit committeeand approved by the Board of Directors at their reapective meeting held on 30th June 2021 ee

201, The Summit Business Bay, Mumboi - 93

Brooks Laboratories Limited Regd Office: Village Kishanpura, Nalagarh Road, Baddi, Dist. Solan H.P.-174101 CIN NO: L24232HP2002PLC000267

E-mail : investors@brookslabs.net | Website: www.brookslabs.net | Telefax No :+91 1795 236939

• 2 The financial results have been prepared in accordance with Indian Accounting Standard ("Ind AS") prescribed under section 133 of the Companies Act 2013, read with relevent rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 (as amended) and SEBI Circular Dated 5th July, 2016
• 3 Figures for the quarter ended 31 March 2021 and the corresponding quarter ended in the previous year as reported in these financial results are the balancing figures between audited figures in respect of the full financial year 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.
• 4 The Consolidated Financial Results have been prepared in accordance with Ind AS 110 on "Consolidated Financial Statements" and Ind AS 28 on "Investments in Associates and Joint Ventures".
• 5 The Company has invested in Subsidiary and Associate during the year, the Company has presented its consolidated financial results first time during the year. Accordingly the comparative figures for the quarter and year ended 31st March, 2020 have not been presented.
• 6 The Company has entered into Business transfer agreement with its subsidiary, Brooks Steriscience Limited for transfer of its manufacturing facility situated at Vadodra. Accordingly the Company has transferred its respective assets and liabilities on 31st March, 2021 in accordance with Ind AS 103 "Business Combinations".
• 7 The Company operates in one reportable business segment i.e " Pharmaceuticals'.

8 Figures of the previous reporting period has been reclassified/ regrouped wherever necessary to correspond with the figures of the current reporting period.

For and on Behalf of the Board

Managing Director

Place : Mumbai Rajesh Mahajan Date : 30th June, 2021 Din : 02000634

Brooks Laboratories Limited

Statement of Assets & Liabilities as at 31st March, 2021 (Rs. In Lakhs)

Brooks Laboratories LimitedRegd Office: Village Kishanpura, Nalagarh Road, Baddi, Dist. Solan H.P.-174101CIN NO: L24232HP2002PLC000267E-mail : investors@brookslabs.net Website: www.brookslabs.net Telefax No :+91 1795 236939
Statement of Assets & Liabilities as at 31st March, 2021	(Rs. In Lakhs)
ASSETS
1 Non Current Assets
(a) Property, Plant and Equipment(b) Capital work in progress	1,442.48	11,217.70	10,702.6367.55
(c) Right to use Assets	--	"67.48	-
(d) Intangible asset	53.39	17.04	66.65
(e) Intangible asset under Development	2:15	10.99	2.15
(f) Financial Assets
(i) Investments(ii) Other Financial Assets	4,680.54132.85	2.00162.73	2.00132.85
(g) Income Tax Assets (Net)	201.70	496.55	201.70
(h) Other Non Current Assets	-	20.11	-
Total Non - Current Assets	6,513.10	11,994.60	11,175.53
2 Current assets
(a) Inventories	1,237.87	1,377.49	2,360.31
(b) Financial Assets(i) Trade receivables	959.07	1,556.20	1,369.80
(ii) Cash and Cash Equivalents	6.37	39.60	88.39
(iii) Bank Balances other than cash & cash equivalents	81.99	113.18	81.99
(iv) Other Financial Assets	43.68	60.19	43.68
(c) Other Current Assets	205.46	645.13	835.97
Total Current Assets	2,534.44	3,791.79	4,780.15
3/Non current asset held for sale	252.06	-	252.06
TOTAL ASSETS	9,299.60	15,786.39	16,207.73
B EQUITY AND LIABILITIES
1 Equity
(a) Equity Share Capital(b) Other Equity	2,470.283,950.76	2,470.287,371.32	2,470.285,444.56
Equity attributable to Owners of the Company	6,421.04	9,841.60	7,914.84
Non-Controlling interests	:	:	:
Total Equity	6,421.04	9,841.60	7,914.84
Liabilities
2 Non-current liabilities(a) Financial Liabilities
Borrowings(i)	134.09	1,139.93	1,444.00
(ii) Lease Liability	-	52.91	-
(iii) Other Financial Liabilities	iial2	-	-
(b) Deferred Tax Liabilities(b) Provisions	-154.48	-172.04	322.99154.48
Total Non - Current Liabilities	299.69	1,364.88	1,921.48
3 Current liabilities
(a) Financial Liabilities
(i) Borrowings	681.99	1,261.03	1,670.64
(ii) Lease liability	-	23.12	-
(iii) Trade Payables- Due to micro and small enterprises	316.22	445.56	371.89
- Due to Others	1,022.38	2,161.05	2,723.38
(iii) Other Financial Liabilities	369.91	489.02	1,366.06
(b) Other current liabilities	125.73	144.12	126.09
(c) Provisions	62.642,578.87	56.024,579.91	113.34
Total Current Liabilities			6,371.42
TOTAL EQUITY AND LIABILITIES	9,299.60	15,786.39	16,207.73

For Brooks Laboratories Limited

Place : Mumbai Rajesh Mahajan Date : 30th June, 2021 Din : 02000634

% Managing Director

Brooks Laboratories Limited

Regd Office: Village Kishanpura, Nalagarh Road, Baddi, Dist. Solan H.P.-174101 CIN NO: L24232HP2002PLC000267 E-mail : investors@brookslabs.net | Website: www.brookslabs.net | Telefax No :+91 1795 236939

Cash Flow Statement for the year ended 31st March, 2021

(Rs. In Lakhs)

A. CASH FLOW FROM OPERATING ACTIVITIES
Net (loss) / profit before tax	(843.53)	(1,351.37)	(899.33)
Adjustments for
Depreciation and amortisation expense	709.29	664.76	714.33
Finance cost	309.41	335.03	309.84
Interest income	(16.95)	(15.12)	(16.95)
Remeasurement of Defined benefit obligations	10.79	19.68	10.79
Dividend from current investments	(0.30)	(0.35)	(0.30)
Provision for Doubtful Capital Advance	18.65	-	18.65
Loss on discarded asset	5.61	135.40	5.61
Provision for Expected credit loss	4.62	36.16	4.62
Unrealised Foreign Exchange Gain	(17.65)	(0.01)	(17.64)
Operating profit before working capital changes	179.95	(175.81)	129.63
Adjustments for changes in working capital:
Decrease / (increase) in Trade Receivables	878.75	(447.76)	199.42
Decrease / (increase) in Inventories	(974.05)	(372.15)	(982.82)
Decrease / (increase) in Other Assets	228.60	§3.12	(189.38)
Decrease / (increase) in Other Financial Assets	46.39	(20.44)	46.39
(Decrease) / Increase in Trade and Other Payables	(201.64)	(107.31)	473.76
(Decrease) / Increase in Other Financial Liabilities	154.38	52.83	1,154.38
(Decrease) / Increase in Other Liabilities	(18.39)	43.58	(16.82)
(Decrease) / Increase in Long term Provisions	17.99	24.51	33.15
(Decrease) / Increase in Short term Provisions	18.53	11,94	18,52
Cash generated from / (used in) operations	330.51	(937.50)	866.25
Direct taxes paid (net of refunds received)	(420.38)	(1.36)	(420.38)
Net cash (used in) / from generated from operating activities	(89.86)	(938.86)	445.88
B, CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment (including capital work in progress
and capital advances)	cer	ral	(561.38)
Proceeds from sale of property, plant and equipment	-	43.00
Investment in Associate company	(0.80)	:
Investment in Subsdiary	(5.00)
Net (investments in)/ proceeds from bank deposits (having original maturity of	31.18	(31.29)
more than three months)	/	:	31.18
Interest received	16.95	13.70	16.95
Dividend received	0.30	0.35	0,30
Net cash (used in) / generated from investing activities	(74.53)	(232.60)	(512.96)
C. CASH FLOW FROM FINANCING ACTIVITIES
Money received against share warrants and issue of shares on Rights basis	-	1,754.78	-
Proceeds/ (Repayment) from borrowings (net)	452.98	(425.99)	438.13
Repayment of Lease Liabilities	(20.70)	(28.56)	(20.70)
Finance costs paid	(301.11)	(339.01)	(301.55)
Net cash (used in) / from financing activities	131.16	961.21	115.89
Net increase / (decrease) in cash and cash equivalents	(33.23)	(210.24)	48.80
Cash and cash equivalents at the beginning of the year	39.59	249.85	39.59
Cash and cash equivalents at the end of the year	6.37	39.60	88.39

Date: 30th June, 2021

Place : Mumbai For and on Behalf of Board

Rajesh Mahajan "S Din : 02000634 Managing Director

SGCO&Co.LLP Chartered Accountants

Independent Auditor's Report

To, The Board of Directors of Brooks Laboratories Limited

Report on the audit of the Standalone annual financial results

Opinion

We have audited the accompanying Standalone Financial Results of Brooks Laboratories Limited ('the Company') for the quarter and year ended March 31, 2021 ("Standalone annual financial results "), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ('Listing regulations').

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone annual financial results:

• a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ('the Act'). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion on the Standalone annual financial results.

Chartered Accountants

Management's and Board of Directors' responsibilities for the Standalone annual financial results

These Standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these Standalone annual financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the Standalone annual financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the Company's financial reporting process.

Auditor's responsibilities for the audit of the Standalone annual financial results

Our objectives are to obtain reasonable assurance about whether the Standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

e Identify and assess the risks of material misstatement of the Standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of

Chartered Accountants

not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• e Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of standalone financial statements on whether the company has adequate internal financial controls with reference to standalone financial statements in place and the operating effectiveness of such controls.
• e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the Standalone annual financial results made by the Management and Board of Directors.
• e Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• e Evaluate the overall presentation, structure and content of the Standalone annual financial results, including the disclosures, and whether the Standalone annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

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

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

Chartered Accountants

Other Matters

As stated in note 3 to the Statement, the Standalone annual financial results include the results for the quarter ended 31 March 2021 and the corresponding quarter ended in the previous year being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the relevant financial year which were subject to limited review by us.

ForSGC0O&Co.LLP Chartered Accountants FRN. 112081W/W100184

Suresh Murarka Partner Mem. No. 44739

Place: Mumbai Date: 30 June, 2021

UDIN : 21044739AAAANI7019

Independent Auditor's Report

To, The Board of Directors of Brooks Laboratories Limited

Report on the audit of the Consolidated annual financial results

Opinion

We have audited the accompanying Consolidated Financial Results of Brooks Laboratories Limited ('the Company') and its subsidiaries (the company and its subsidiary together referred to as ('the Group')) its associates which comprise for the year ended March 31, 2021 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ('Listing regulations').

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements / financial information of the subsidiary, the aforesaid consolidated financial results

• a. include the annual financial results of entities as given below:
  • i, Brooks Laboratories Limited (Parent Company)
  • ii Brooks Steriscience Limited (Subsidiary)
  • iii, Steribrooks Penems Private Limited (Associate)
• b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Group for the year ended 31 March 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ('the Act'). Our responsibilities under those SAs are further described in the Auditors Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit

Chartered Accountants

evidence obtained by us along with the consideration of audit reports of the other auditors referred to in sub paragraph (a) of the "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our Opinion on the Consolidated annual financial results.

Management's and Board of Directors' responsibilities for the Consolidated annual financial results

These Consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.

The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these Consolidated annual financial results that give a true and fair view of the consolidated net profit and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Consolidated annual financial results by the Management and the Directors of the Holding Company, as aforesaid.

In preparing the Consolidated annual financial results, the Management and the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group is responsible for overseeing the financial reporting process of each company.

Auditor's responsibilities for the audit of the Consolidated annual financial results

Our objectives are to obtain reasonable assurance about whether the Consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,

Chartered Accountants

they could reasonably be expected to influence the economic decisions of users taken on the basis of these Consolidated annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• e Identify and assess the risks of material misstatement of the Consolidated annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• e Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of consolidated financial statements on whether the Holding Company has adequate internal financial controls with reference to consolidated financial statements in place and the operating effectiveness of such controls.
• e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the Consolidated annual financial results made by the Management and Board of Directors.
• e Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
• e Evaluate the overall presentation, structure and content of the Consolidated annual financial results, including the disclosures, and whether the Consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
• e Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group to express an opinion on the Consolidated annual financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Consolidated financial results of which we are the independent auditors.

Chartered Accountants

For the other entities included in the Consolidated annual financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in para (a) of the section titled "Other Matters" in this audit report.

We communicate with those charged with governance of the Holding Company and such other entities included in the Consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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

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

Other Matters

a) The Consolidated annual financial results include the audited financial results/ financial information of one subsidiary vis Brooks Steriscience Limited, included in the consolidated annual financial results, whose financial results/ financial information reflect Group's share of total assets of Rs. 11,586.67 lakhs as at 31 March 2021, Group's share of total revenue for of Rs. NIL and Rs. Nil, total net profit / (loss) of Rs. (376.75) lakhs, Rs. (376.78) lakhs, total comprehensive income of Rs. Nil and Rs. Nil for the quarter and year ended on that date respectively and Group's share of net cash inflows of Rs. 82.02 lakhs for the year ended on that date, as considered in the Consolidated annual financial results, which have been audited by their respective independent auditor. The independent auditors' reports on financial results/financial information of these entities have been furnished to us by the management and our Opinion on the Consolidated annual financial results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the reports of such auditor and the procedures performed by us as stated in the paragraph above.

The accompanying Statement includes unaudited financial statements and other unaudited financial information in respect of one associate whose financial statements includes the Group share of net loss of Rs (57.05) lakhs and Rs (0.80) lakhs for the quarter and the year ended March 31 2021 respectively.

Our opinion on the Consolidated annual financial results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the financial results/financial information certified by the Board of Directors.

Chartered Accountants

b) As stated in note 3 to the Statement, the Consolidated annual financial results include the results for the quarter ended 31 March 2021 and the corresponding quarter ended in the previous year being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the relevant financial year which were subject to limited review by us.

ForSGCO&Co.LLP Chartered Accountants FRN. 112081W/W100184

Suresh Murarka Partner Mem. No. 44739

Place: Mumbai Date: 30t June, 2021

UDIN : 21044739AAAANJ7311

Corp. Off.:- 201, "The Summit Business Bay" Behind Guru Nanak Petrol Pump, Off Andheri Kurla Road, Andheri (E), Mumbai - 400 093 (India) Ph, : +91 22 69073100

30" June, 2021

Dalal Street Bandra Kurla Complex

BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Mumbai-400001 Bandra (E), Mumbai-400051

Scrip Code: 533543 Symbol: BROOKS

Sub: Declaration by the Company for Auditors Unmodified opinion on the Audited Financials Results for the year ended 2020-21

Dear Sirs,

This has reference to the SEBI Circular No. CIR/CFD/CMD/56/2016 dated 27.05.2016 regarding disclosure of the Impact of Audit Qualifications by the Listed Companies.

We hereby declare that the Audit Report for the Annual Audited Financial Results for the year ended 31.03.2021 is of 'Unmodified Opinion'.

Kindly take the same on record.

Thanking You,

Yours faithfully For BROOKS LABORATORIES LIMITED

(Rajesh Mahajan) Managing Director DIN No.: 0200063

Regd. Off & Works : Village Kishanpura, Baddi Nalagarh Road, Baddi (H.P) - 174101 (India) Tele Fax .: 01795 236939 (CIN NO: L24232HP2002PLC000267), E-mail : investors@brookslabs.net, Website: www.brookslabs.net