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Camlin Fine Sciences Ltd Interim / Quarterly Report 2022
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Interim / Quarterly Report
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November 12, 2021
| To, | To, |
|---|---|
| BSE Limited, | Listing Department, |
| 25, P. J. Towers, | National Stock Exchange of India Ltd., |
| Dalal Street, | Exchange Plaza, Bandra Kurla Complex, |
| Mumbai – 400 001 | Bandra (East), Mumbai‐ 400051 |
| Ref: Company Scrip Code: 532834 | Ref: Symbol: CAMLINFINE Series: EQ |
Dear Sir/Madam,
Sub: Outcome of the Board Meeting
This has reference to our intimation dated November 2, 2021.
The Board of Directors of the Company at its meeting held today i.e. November 12, 2021, inter alia, approved the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half‐year ended September 30, 2021.
A copy of the said Results along with the Limited Review Reports issued by the Statutory Auditors and operational highlights are enclosed herewith as Annexure 1.
The Board of Directors of the Company at its meeting held today also approved the appointment of Mr. Rahul Sawale as the Company Secretary & Compliance Officer of the Company w.e.f. November 12, 2021. The details required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed herewith as Annexure 2.
The Board meeting commenced at 10:00 a.m. (IST) and concluded at 4.30 p.m. (IST).
This is for your information and record please.
Encl.: a/a
Thanking You, For Camlin Fine Sciences Limited
Santosh Parab Chief Financial Officer
$$ +91\ 22\ 6700\ 1000 $$
Annexure 1
| (Rs.in Lakh, except per share data | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STANDALONE | CONSOLIDATED | ||||||||||||
| QUARTER ENDED | HALF YEAR ENDED | YEARENDED | QUARTER ENDED | HALF YEAR ENDED | YEARENDED | ||||||||
| PARTICULARS | 30.09.2021 | 30.06.2021 | 30.09.2020 | 30.09.2021 | 30.09.2020 | 31.03.2021 | 30.09.2021 | 30.06.2021 | 30.09.2020 | 30.09.2021 | 30.09.2020 | 31.03.2021 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| Revenue from operations | 13,816.59 | 14,572.85 | 14,677.72 | 28,389.44 | 26,794.66 | 60,004.83 | 31,121.94 | 33,082.64 | 25,681.03 | 64,204.58 | 56,255.42 | 118,710.31 | |
| Other income | 100.90 | 383.20 | 132.54 | 389.7928,779.23 | 231.63 | 546.83 | 61.9831,183.92 | 1,054.9634,137.60 | 128.2125,809.24 | 613.5764,818.15 | 174.8356,430.25 | 498.42119,208.73 | |
| Total income | 13,917.49 | 14,956.05 | 14,810.26 | 27,026.29 | |||||||||
| Cost of materials consumedExpenses | 7,614.18 | 7,965.38 | 10,580.24 | 15,579.56 | 18,801.31 | 38,417.99 | 14,056.36 | 19,328.26 | 11,598.85 | 33,384.62 | 21,553.02 | 48,803.22 | |
| Purchase of stock in trade | 20.65 | 277.23 | 152.24 | 297.88 | 183.04 | 1,604.49 | 2,252.33782.65 | (2,354.75)1,325.98 | (787.15)1,196.85 | (102.42)2,108.63 | 2,040.174,744.81 | 7,813.591,732.00 | |
| Changes in inventories of finished goods/WIP/stock in trade | 978.28 | 246.03 | (838.26) | 1,224.31 | (1,415.24) | (2,182.59) | |||||||
| Employee benefits expense | 1,310.33 | 1,130.09 | 933.76 | 2,440.42 | 1,640.11 | 3,869.86 | 3,454.81 | 3,275.77 | 2,842.74 | 6,730.58 | 5,381.69 | 12,038.31 | |
| Finance costs | 748.58 | 960.64644.09 | 338.18591.01 | 1,709.221,306.25 | 643.941,451.71 | 3,253.651,928.30 | 1,336.75905.74 | 1,341.141,013.24 | 812.63963.20 | 2,677.891,918.98 | 1,867.901,911.26 | 4,429.423,752.77 | |
| Depreciation and amortisation expenseOther expenses | 662.163,598.24 | 3,036.04 | 3,140.91 | 6,539.97 | 5,248.67 | 12,107.82 | 8,304.53 | 6,950.83 | 7,465.34 | 14,751.99 | 14,063.34 | 30,129.85 | |
| Total Expenses | 14,932.42 | 14,259.50 | 14,898.08 | 29,097.61 | 26,553.54 | 58,999.52 | 31,093.17 | 30,880.47 | 24,092.46 | 61,470.27 | 51,562.19 | 108,699.16 | |
| Profit/(loss) before exceptional liems and share of profit/(loss) ofassociate (3-4) | (1,014.93) | 696.55 | (87.82) | (318.38) | 472.75 | 1,552.14 | 90.75 | 3,257.13 | 1,716.78 | 3,347.88 | 6,868.06 | 10,509.57 | |
| Exceptional items | $\ddot{\phantom{0}}$ | 50.32 | 50.32 | ı | ٠ | ||||||||
| Profit/ (loss) before share of profit/ (loss) of associate (5-6) | (1,014.93) | 696.55 | (87.82) | (318.38) | 122.43 | 1,501.82 | 90.75 | 3,257.13 | 1,716.78 | 3,347.88 | 4,868.06 | 10,509.57 | |
| Share of profit/ (loss) of associate | (14.57) | (2.40) | ł | (16.97) | 0.06 | ||||||||
| 'rofit/(loss) before tax (7-8) | 1,014.93) | 696.55 | (87.82) | (318.38) | 8243 | 1,501.82 | 76.18 | ,254.73 | 1,716.78 | 3,330.91 | 1,868.06 | 10,509.63 | |
| Tax ExpensesCurrent tax | (183.48) | 125.35 | (15.49) | (58.13) | 76.45 | 277.92 | 677.95 | 830.43 | 418.97 | 1,508.38 | 264.55 | 2,735.69 | |
| Deferred tax | (132.34) | 97.98 | 29,47 | (34.36) | 66.90 | 395.78 | (213.36) | 46.64 | 331.61 | (166.72) | 581.31 | 1,238.14 | |
| (315.82) | 223.33 | 13.98 | (92.49) | 143.35 | 673.70 | 464.59 | 877.07 | 750.58 | 1,341.66 | 1,845.86 | 3,973.83 | ||
| Profit/(loss) for the period (9-10) | (699.11) | 473.22 | (101.80) | (225.89) | 279.08 | 828.12 | (388.41) | 2,377.66 | 966.20 | 1,989.25 | 3,022.20 | 6,535.80 | |
| $\widehat{c}$ | terns that will not be reclassified to profit or lossRemeasurements of defined benefit plansOther comprehensive income | (24.66) | 9.03 | (15.02) | (15.63) | (8.87) | (49.46) | (24.66) | 9.03 | (15.02) | (15.63)$\bar{1}$ | (8.87) | (55.36)10,021.92 |
| Income tax relating to Items that will not be reclassified toChanges in revaluation surplus | 5.46 | (3.16) | 5.25$\epsilon$ | 2.30 | 3,10 | 11.49 | .46 | (3.16)$,$ | 5.25$,$ | 2.30 | 3.10 | 13.50 | |
| (ii) | profit or loss | ||||||||||||
| lternsΞ | Exchange differences on translating the financial statements ofthat will be reclassified to profit or lossforeign operations | (601.55) | 334.65 | 434.83 | (266.90) | 894.38 | 1,369.98 | ||||||
| Ξ | Income tax relating to Items that will be reclassified to profit or | ||||||||||||
| Other comprehensive income | (19.20) | 5.87 | (9.77) | (13.33) | (5.77) | (37.97) | (620.75) | 340.52 | 425.06 | (280.23) | 888.61 | 11,350.04 | |
| Total comprehensive income for the period (11+12) | (718.31) | 479.09 | (11.57) | (239.22) | 273.31 | 790.15 | (1,009.16) | 2,718.18 | 1,391.26 | 1,709.02 | 3,910.81 | 17,885.84 | |
| e a | Profit/(loss) attributable to:Non-controlling interestsOwners of the Company | (553.41)165.00 | 2,235.70141.96 | 589.05377.15 | 1,682.29306.96 | 2,127.87894.33 | 5,096.341,439.46 | ||||||
| e E | Other comprehensive income attributable to:Non-controlling interestsOwners of the Company | (439.47)(181.28) | 130.18 | 386.6138.45 | $(909.29)$$29.06$ | 739.28149.33 | 10,936.97413.07 | ||||||
| εB | Total comprehensive income attributable to:Non-controlling interestsOwners of the Company | (992.88)(16.28) | 1,365.88352.30 | 415.60975.66 | 1,373.00336.02 | 2,867.151,043.66 | 1,852.5316,033.31 | ||||||
| Paid-up Equity Share Capital (Face Value Re.1/- per share) | 1,276.02 | 1,275.91 | 1,212.85 | 1,276.02 | 1,212.85 | 1,274.98 | ,276.02 | ,275.91 | ,212.85 | 1,276.02 | 1,212.85 | 1,274.98 | |
| Earnings per Share (EPS) (of Re.1/-each) (not annualised)Other Equity | 45,188.57 | 63,065.10 | |||||||||||
| Diluted (Rs.)Basic (Rs.) | $(0.55)$$(0.46)$ | $\frac{0.37}{0.31}$ | $(0.08)$$(0.08)$ | $(0.18)$$(0.15)$ | 0.78 | $0.67$0.60 | $(0.43)$$(0.37)$ | 1.75 | 0.49 | $\begin{array}{c} 1.32 \ 1.11 \end{array}$ | 1.751.64 | 4.13 |
Q Registered Office:
Camlin Fine Sciences Ltd. F/11-12, WICEL, Opp. SEEPZ, Central Road, Andheri East, Mumbai 400 093, India.CIN: L74100MH1993PLC075361 | ISO 22000 Certified Company
3 Finance
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FOR CAMLIN FINE SCIENCES LIMITEDAshsh Subhar)Dangkar
Ashish S. DandekarChairman & Managing Dir
12, 2021 Place: MumbaiDate: November 1
Q Registered Office:
Camlin Fine Sciences Ltd. F/II-12, WICEL, Opp. SEEPZ, Central Road, Andheri East, Mumbai 400 093, India. CIN: L74100MH1993PLC075361 | ISO 22000 Certified Company
Rs. In Lakh
CONSOLIDATED
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Notes to financial results:The above results which are published in accordance with at their metalat their more published as in summised in 22, 2021: In themetal Shaha Shaha Cheve expects above includes rest foreign to
| BALANCE SHEE! | |||||||
|---|---|---|---|---|---|---|---|
| STANDALONE | (Rs.in Lakh)CONSOLIDATED | ||||||
| PARTICULARS | (Unaudited)30.09.2021 | (Audited)31.03.2021 | (Unaudited)30.09.2021 | (Audited)31.03.2021 | |||
| $\widehat{E}$ | Non-Current AssetsASSETS | ||||||
| GECTECEE | Property, Plant and EquipmentCapital work-in-progress | 24,276.497,059.04 | 1,844.2624,572.33 | 8,431.0247,529.67 | 48,175.132,367.71 | ||
| Right-Of-Use Assets | 2,706.46 | 2,269.77 | 3,909.56 | 3,128.88 | |||
| Investment Property | 207.19 | 207.19 | 207.19 | 207.19 | |||
| Intangible AssetsGoodwill | 2,206.21 | 2,323.78 | 2,205.684,443.31 | 4,443.312,398.08 | |||
| Intangible Assets under development | f, | 13.93 | 13.95 | ||||
| Investment in associate | 258.14 | 13.33 | |||||
| Θ | Financial Assets | ||||||
| $\widehat{\Xi}$ | Investments | 7,619.70361.97 | 7,356.42 | 722.55 | 722.55 | ||
| Other financial assets | 318.58 | 1,416.053,470.67 | 1,338.653,300.85 | ||||
| Deferred tax assets (net)Income tax assets | 475.02 | 440.34 | 1,333.34 | 867.84 | |||
| sge | Other non-current assets | ||||||
| Total Non-current Assets | 3,345.1148,257.19 | 1,541.6640,874.33 | $\frac{3,501.61}{77,442.72}$ | 1,713.4868,690.95 | |||
| $\widehat{2}$ | Current Assets | ||||||
| $\widehat{a}$ | Inventories | 13,997.84 | 13,135.37 | 32,862.53 | 31,999.57 | ||
| Financial assets | |||||||
| ΞĒ | Cash and cash equivalentsTrade receivables | 1,060.0336,629.90 | 36,821.451,877.54 | 27,884.886,914.42 | 27,070.747,551.96 | ||
| $\widehat{H}$ | Other bank balances | 1,930.74 | 6,281.31 | 1,931.75 | 6,282.34 | ||
| (iv) | Loans | 3,452.46 | 2,932.84 | 498.43 | 7.26 | ||
| $\widehat{\epsilon}$ | Other financial assets | 2,194.06 | 2,131.32 | 1,046.56 | 1,094.21 | ||
| $\mathbf{c}$ | Other current assets | 2,530.96 | 2,617.29 | 5,324.73 | |||
| Total Current Assets | 61,795.99110,053.18 | 65,797.12106,671.45 | 76,463.30153,906.02 | 5,463.4179,469.49148,160.44 | |||
| TOTAL ASSETS | |||||||
| EQUITY AND LIABILITIES | |||||||
| $\widehat{E}$ | EQUITY | ||||||
| Equity Share Capital | 1,276.02 | 1,274.9845,188.57 | 68,850.441,276.02 | 63,065.101,274.98 | |||
| $\widehat{d}$ $\widehat{e}$ | Non-Controlling InterestOther Equity | 49,361.76 | |||||
| Total Equity | 50,637.78 | 46,463.55 | 7,239.69 | $\frac{6,974.95}{71,315.03}$ | |||
| LIABILITIES | |||||||
| $\widehat{\alpha}$ | Non-current Liabilities | ||||||
| $\mathbf{a})$ | Financial Liabilities | ||||||
| E E | Lease liabilitiesBorrowings | 18,600.32607.26 | 16,273.39408.11 | 27,531.501,323.33 | 844.0427,324.97 | ||
| Provisions | 345.43 | 282.57 | 345.43 | 282.57 | |||
| BOS | Deferred tax liabilities (net) | 603.42 | 630.56 | 603.42 | 630.56 | ||
| Total Non-Current LiabilitiesOther non-current liabilities | 35.6720,192.10 | 39.5817,634.21 | 29,803.68 | 29,082.14 | |||
| බ | Current Liabilities | ||||||
| $\hat{a}$ | Financial Liabilities | ||||||
| Θ | Borrowings | 17,779.72 | 21,020.68 | 23,674.48 | 26,465.37 | ||
| (ia)(ii) | Lease liabilitiesTrade Payables | 181.84 | 120.15 | 502.31 | 364.59 | ||
| (A) Total outstanding dues of micro enterprises and | 491.65 | 821.86 | 494.22 | 828.24 | |||
| small enterprises; and | |||||||
| (B) Total outstanding dues of creditors other thanmicro enterprises and small enterprises | 17,572.25 | 18,465.91 | 15,954.62 | 15,011.34 | |||
| (iii) | Other financial liabilities | 1,544.73 | 1,207.91 | 2,383.91 | 2,090.77 | ||
| BOT | Other current liabilities | 1,537.39 | 827.13 | 2,831.38 | 2,024.86 | ||
| Current tax liabilities (net)Provisions | 112.643.08 | 98.0012.05 | 889.685.59 | 961.5016.60 | |||
| Total Current Liabilities | 39,223.30 | 42,573.69 | 46,736.19 | 47,763.27 | |||
| TOTAL EQUITY AND LIABILITIES | 110,053.18 | 106,671.45 | 153,906.02 | 148,160.44 | |||
Ashish Subhash Digitally signed by Ashish Subhash Dandekar DN: c=IN, o=Personal, title=2699, pseudonym=b04a37efc04fe08ca1caf3f4288d614b8a716bab85344 d387d9ef4d06ea0b4fc, postalCode=400050, st=Maharashtra, serialNumber=2d66cc925e71aa302f015830d63043f413fb0d0c187
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| Ξ. | |
| Гіне фененис | ||
|---|---|---|
| Particulars | For the half year EndedSeptember 30, 2021 | For the half year EndedSeptember 30, 2020 |
| Cash Flow from Operating Activities | ||
| Profit Before Tax | (318.38) | 422.43 |
| Adjustment for: | ||
| Depreciation and Amortisation Expense | ,306.24 | 643.94 |
| inance Costs | ,709.23 | ,451.74 |
| Foreign Exchange Loss / (Gain) (Unrealised) | (71.33) | 955.30 |
| Allowance/(Reversal) of Credit Loss | (83.06) | 66,45 |
| Bad Debt written off | , | 10.75 |
| impairment in investments, loans and advances | ł | 50.32 |
| Expense/(Reversal) recognised in respect of equity-settled share-based payments | 370.63 | 96.39 |
| Provision for Compensated Absences | 61.87 | 56.71 |
| nterest Income | (170.27) | (161.46) |
| Rent Expenses | 0.29 | |
| Guarantee Commission | (3.91) | (16.46) |
| Vet Gain arising on Financial Liabilities measured at Fair Value Through Profit or Loss (FVTPL) | (10.15) | (22.87) |
| Operating Profit before working capital changes | 2,791.16 | 3,553.24 |
| Adjustment for: | ||
| ncrease/(Decrease) in Non Financial Liabilities | 710.21 | 46.20 |
| ncrease/(Decrease) in Financial Liabilities | (757.12) | 4,510.18 |
| Increase)/Decrease in Non Financial Assets | (4,382.50) | (4, 191.68) |
| Increase)/Decrease in Financial Assets | 234.51 | (1,262.98) |
| Cash generated from/(used in) operations | (1,403.74) | 2,654.96 |
| axes Paid (Net) | 14.48 | (470.89) |
| Net Cash Flow from/(used in) Operating activities | (1,389.26) | 2,184.07 |
| Cash Flow from Investing Activities | ||
| Purchase of Property, Plant & Equipment and Intangible Assets | (4,396.28) | (2,167.88) |
| Sale/(Purchase) of Non-Current Investment | (261.78) | , |
| oan to Associate | (490.94) | |
| Maturity of / (Investment in) Fixed Deposit | 1,350.57 | (1,986.17) |
| nterest Received | 64.65 | 31.89 |
| Net Cash Flow from/(used in) Investing Activities | (733.78) | (4, 122.16) |
| Cash Flow from Financing Activities | ||
| Proceeds from Issue of Equity Shares under Employee Stock Option Plan | 50.81 | 15.38 |
| Proceeds from issue of Preferential Share Warrants (Net of issue expenses) | 4,000.00 | 5,610.31 |
| Proceeds from Share Application Money pending allotment | 12.24 | |
| Proceeds from / (Repayment of) Long Term Borrowings (Net) | ,940.45 | 338.20 |
| Proceeds from / (Repayment of) Short Term Borrowings (Net) | (3,240.96) | 1,167.56 |
| Payment of lease liabilities | (97.66) | (80.31) |
| Interest Paid | (1, 347.11) | (1, 548.27) |
| Net Cash Flow from Financing Activities | 1,305.53 | 5,515.11 |
| Net Increase / (Decrease) in Cash & Cash Equivalents | (817.51) | 3,577.02 |
| Cash & Cash Equivalents at the beginning of the year | 1,877.54 | 69.83 |
| Cash & Cash Equivalents at the end of the year | 1,060.03 | 3,646.85 |
Note:(a) The above Cash Flow Statement has been prepared under the "Indirect Method as set out in the Indian Acco
INR (in Lakh) unting Standard (Ind AS 7) - Statement of Cash Flows (b) Cash and Cash Equivalents comprises of:Particulars
| For the half year Ended For the half year Ended | ||
|---|---|---|
| September 30, 2021 September 30, 2020 | ||
| Balances with Banks in Current Accounts | 243.32 | |
| Bank deposits with original maturity of less than three months | ,400.00 | |
| Cash on Hand | ||
| Cash and cash equivalents in Statement of Cash Flow | 646.85 | |
$(c)$ Movement in Borrowings in accordance with Ind AS 7
| Particulars | April 01, 2021 | Cash Flows | Non-cash changes | September 30, 2021 |
|---|---|---|---|---|
| ong term borrowings | 16,273.39 | 1,940.45 | 386.48 | 18,600.32 |
| Short term borrowings | 8,240.96) | 17,779.72 | ||
| Total borrowings | 37,294.07 | (1,300.51) | 386.48 | 36,380.04 |
| Particulars | April 01, 2020 | Cash Flows | Non-cash changes | September 30, 2020 |
| ong term borrowings | 1,296.43 | 38.20 | 7545 | 1,559.18 |
| hort term borrowings | 2,091.64 | ,167.56 | 3,259.20 | |
| otal borrowings | 13,388.07 | 1,505.76 | 75.45 | 14,818.38 |
| $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , $\mathbf{r}$ , |
$(d)$ Pre
FOR CAMLIN FINE SCIENCES LIMITED
Ashish Subhash Ashish S. DandekarChairman & Managing Directo
Q Registered Office:
Place: MumbaiDate: November 12, 2021
Camlin Fine Sciences Ltd. F/I I -12, WICEL, Opp. SEEPZ, Central Road, Andheri East, Mumbai 400 093, India.CIN: L74100MH1993PLC075361 | ISO 22000 Certified Company
CAMLIN FINE SCIENCES LIMITED
| Consolidated Statement of Cash Flows for the half year ended September 30, 2021 | INR (in Lakh) | |
|---|---|---|
| Particulars | For the period endedSeptember 30, 2021 | For the period endedSeptember 30, 2020 |
| Cash Flow from Operating Activities | ||
| Profit Before Tax | 3,330.91 | 4,868.06 |
| Adjustment for: | ||
| Depreciation and Amortisation Expense | 2,677.89 | 1,911.26 |
| Finance Costs | 1,918.98 | 1,867.90 |
| Foreign Exchange Loss / (Gain) (Unrealised) | (904.70) | 1,938.56 |
| Allowance / (Reversal) for Credit Loss | (104.47) | (200.60) |
| Re-measurement of defined benefit plans | , | (8.87) |
| Expenses / (reversal) recognised in respect of equity settled share based payments | 372.12 | 98.64 |
| Provision for Compensated Absences | (24.59) | 114.26 |
| Interest income | (47.48) | (38.96) |
| Rent Expense | 0.31 | $\cdot$ |
| Net gain arising on Financial Liabilities measured at Fair Value Through Profit or Loss (FVTPL) | (10.15) | (22.87) |
| Hyperinflationary effect on Consolidated Statement of Profit and Loss | 5.99 | (15.41) |
| Share of loss of associate | 16.97 | |
| Operating Profit before working capital changes | 7,231.78 | 10,511.97 |
| Adjustment for: | ||
| Increase/(Decrease) in Non Financial Liabilities | 806.52 | 847.39 |
| Increase/(Decrease) in Financial Liabilities | 1,256.24 | (3, 191.97) |
| Increase)/Decrease in Non Financial Assets | (684.12) | (2,599.31) |
| (Increase)/Decrease in Financial Assets | 543.57 | 3,532.01 |
| Cash generated from / (used in) operations | 8,066.85 | 9,100.09 |
| Taxes Paid (Net) | (1,984.89) | (1,781.72) |
| Net Cash Flow from / (used in) Operating activities | 6,081.96 | 7,318.37 |
| Cash Flow from Investing Activities | ||
| Purchase of Property, Plant & Equipment and Intangible Assets | (10,062.17) | (2,506.42) |
| Sale/ (Purchase) of non-current investments | (261.78) | 8.30 |
| Loan to Associate | (491.17) | |
| Maturity of / (Investment in) Fixed Deposit | 4,350.59 | (1,987.07) |
| Interest Received | 64.15 | 37.97 |
| Net Cash Flows from/(used in) Investing Activities | (6,400.38) | (4,447.22) |
| Cash Flow from Financing Activities | 50.81 | 15.38 |
| Proceeds from Issue of Equity Shares under Employee Stock Option Plan | ||
| Proceeds from issue of Preferential Share Warrants (net of issue expenses) | 4,000.00 | 5,610.31 |
| Proceeds from Share Application Money pending allotment | 12.24 | |
| Proceeds from / (Repayment of) Long Term Borrowings (Net) | 225.04 | 1,732.11 |
| Proceeds from / (Repayment of) Short Term Borrowings (Net) | (2,790.89) | (718.26) |
| Payment of lease liabilities | (322.05) | (366.89) |
| Interest Paid | (1,410.75) | 1,933.43) |
| Dividend paid to other shareholder of Dresen Quimica S.A.P.I. de C.V. | (71.28) | $\frac{(240.91)}{4,110.55}$ |
| Net Cash Flow from Financing Activities | (319.12) | |
ting Standard (Ind AS 7) -ÅC in the hod" as set out prepared nent of Cash Flows has be Note:(a) The above Consolidated StateStatement of Cash Flows.
6,981.705,236.6712,218.37
$(637.54)$ 7,551.966,914.42
Net increase/(Decrease) in Cash & Cash EquivalentsCash & Cash Equivalents at the beginning of the yearCash & Cash Equivalents at the end of the year
| (b) Cash and Cash Equivalents comprises of: | INR (in Lakh) | ||
|---|---|---|---|
| Particulars | For the period ended For the period ended | ||
| September 30, 2021 September 30, 2020 | |||
| Balances with Banks in Current Accounts | 5,907.00 | 8,804.04 | |
| Bank deposits with original maturity of less than three months | ,000.00 | 3,400.00 | |
| Cash on Hand | 14.33 | ||
| Cash and cash equivalents in Consolidated Statement of Cash Flows | 6,914.42 | 12,218.37 | |
| (c) Movement in Borrowings in accordance with Ind AS7 | |||
| Building | $\frac{1}{2}$ and $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2$ |
| Particulars | April 01, 2021 | Cash Flows | Non-cash changes | September 30, 2021 |
|---|---|---|---|---|
| Long term borrowings | 17,324.97 | 225.04 | 18.51 | 17,531.50 |
| Short term borrowings | 6,465.37 | (2,790.89) | 23,674.48 | |
| Total borrowings | 53,790.34 | (2,565.85) | 18.51 | 51,205.98 |
| Particulars | April 01, 2020 | Cash Flows | Non-cash changes | September 30, 2020 |
| Long term borrowings | 21,152.90 | .732.11 | (77.09) | 2,807.92 |
| Short term borrowings | 11,405.45 | 718.26) | 0,687.19 | |
| Total borrowings | 52,558.35 | ,013.85 | (77.09) | 53,495.11 |
(d) Previous period's figures have been regrouped/reclassified wherever applicable
FOR CAMLIN FINE SCIENCES LIMITED
RShish Subhash (manyarahanananana)Dandels Subhash (manyarahananananana)Dandelsar (manyarahanananananananananananananananananan
Ashish S. DandekarChairman & Managng Director
Q Registered Office:
Place: MumbaiDate: November 12, 2021
Camlin Fine Sciences Ltd. F/I I-12,WICEL, Opp. SEEPZ, Central Road, Andheri East, Mumbai 400 093, India.CIN: L74100MH1993PLC075361 | ISO 22000 Certified Company
+9| 22 2832 4404 I (5 +91 22 6700 1000
[email protected] $\overline{\Sigma}$
KALYANIWALLA & MISTRY LLP
CHARTERED ACCOUNTANTS
To, The Board of Directors Camlin Fine Sciences Limited, WICEL, F-11112, Opp. SEEPZ Main Gate, Central Road, SEEPZ, Andheri- (East).
LIMITED REVIEW REPORT
-
- We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Camlin Fine Sciences Limited ("the Company"), for the quarter ended September 30,2021 and tbrthe period from April 1,2021 to September 30, 2021 ("the Statement"). This Statement which has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interint Financial Reporting' ("lnd AS 34"), prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder, as applicable and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review.
-
- 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 Independent 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 financial results are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures appliecl to financial data and thus provide less assurance than an audit. We have not performecl 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 accompanying Statement prepared in accordance with the applicable accounting standards and other recognized accounting practices and policier; has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.
-
- We draw attention to Note 5 to the Financial Results relating to the decision of the: Supreme People's Court of China ("Honorable Court") which has imposed penaltl, amounting to RMB 159.32 million on the JV partner of the subsidiary company ancl others for alleged infringement of intellectual properly used in the manufacturinpl process. An amount of RMB 11.15 million i.e. INR 1,265 lakh which isToh of the total penalty imposed is attributed to the subsidiary i.e. CFS Wanglong Flavours (Ningbo,t Co. Ltd. As an abundant legal caution, the Company has stopped the production facility, till further directions of the Honorable Courl. As per the terms of the shareholders'' ,ft. agreement dated April28,2017 and amendments made thereafter, the company and itsi ,;:r!tA.4X subsidiary .o,rpuny are indemnified against penalty and or legal consequences; I(itnfr""^,',-9il emanating from the violation of the IP rights. As a co-defendant with the JV Partner, the: \t)LQh-]if/ subsidiary company has preferred an application for retrial of the aforesaid order before: @.,: the Honorable Court which was heard in the month October 2021, the decision thereol'
LLP lN : AAH 3437
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KALYANITgALLA & MISTRY LLP
is expected in the month November 202l.In the opinion of the Management, based on the above and for reasons as more fully discussed in the aforesaid note, no impairmenLt of the investment value or in respect of other receivables from the subsidiary company is required.
Our opinion is not modified in respect of these matters.
FOT KALYANIWALLA & MISTRY LLP CHARTERED ACCOUNTANTS Firm Number 104607W/W100166
A PARTNE UDIN: 21127355 AAAAIW7296 12735s
Place: Mumbai Date: November 12,2021
KALYANIWALLA & MISTRY LLP
CHARTERED ACCOUNTANTS
To, The Board of Directors Camlin Fine Sciences Limited WICEL, F -1 I I 12, Opp. SEEPZ Main Gate, Central Road, SEEPZ, Andheri- (East), Mumbai-400096
LIMITED REVIEW REPORT
- l. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Camlin Fine Sciences Limited (the "Parent"), and its subsidiaries (the Parent and it's subsidiaries together referred to as "the Group") and an associates for the quarter ended September 30,2021and for the period from April 01,2021to September 30, 2021 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India ("the SEBI") (Listing Obligations and Disclosure Requirements) Regulations,20l5, as amended.
-
- This Statement, which is the responsibility of the Parent's Management and approved by the Parent'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"), prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder, as applicable and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
-
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410,'Review of Interim Financial Information Performed by the Independent 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 financial results are 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.
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 draw attention to Note 5 to the Financial Results relating to the decision of the Supreme People's Court of China ("Honorable Court") which has imposed penalty amounting to RMB 159.32 million on the JV partner of the subsidiary company and others for alleged infringement of intellectual property used in the manufacturing process. An amount of RMB I I .15 million i.e. INR I ,265.00 lakhs which is 7Yo of the total penalty imposed is attributed to the subsidiary i.e. CFS Wanglong Flavours Qllingbo) Co. Ltd. As an abundant legal caution, the Company has stopped the production facility till further directions of the Honorable Court. As per the terms of the shareholders' agreement dated Apr1|28,2017 and amendments made thereafter, the company and its subsidiary company are indemnified against penalty and or legal consequences emanating from the violation of the IP rights. As a co-defendant with the JV Partner, the subsidiary company has preferred an application for retrial of the aforesaid order before the Honorable Court which was heard in the month October 2021, the decision thereof is expected in the month of November 2021. In the opinion of the Company's Management, based on the ve and for reasons as more fully discussed in the aforesaid note, no impairment of cash generating
KALYANIWALLA & MISTRY LLP
unit consisting of property, plant and equiprnent of the said subsidiary or on goodwill on consolidation in respect of the said subsidiary company is required.
Our opinion is not modified in respect of this matter.
-
- The Statement includes the results of the following entities:
- i. CFS Europe S.p.A.
- ii. CFS Do Brasil lmportacao E Exportacao De Aditivos Alimenticios LTDA
- iii. Solentus North America Inc
- iv. CFS North America LLC
- v. Dresen Quimica, S.A.P.I. de C.V.
- vi. Inovel, S.A.S.
- vii. Industrias Petrotec De Mexico S.A De C.V.
- viii. Nuvel, S.A.C.
- ix. Britec, S.A.
- x. Grinel, S.R.L.
- xi. Chemolutions Chemicals Ltd.
- xii. CFS Wanglong Flavours (Ningbo) Co. Ltd.
- xiii. CFS Argentina S.A.
- xiv. CFS Chile S.p.A
- xv. CFS Pahang Asia Pte Ltd.
- xvi. Fine Lifestyle Brands Ltd.
- xvii. AlgalR Nutra Pharm Private Limited
- Based on our review and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Ind AS and other accounting practices generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6.
-
- We did not review the interim financial results of ten subsidiaries incorporated outside India and a subsidiary in India included in the Statement, whose interim financial results reflect total assets of Rs. 97,292.88lakhs as at September 30, 2021 and total revenues of Pts. 22,042.66 lakhs and Rs. 43,899.60 lakhs forthe quarter and forthe period from April 01,20211o September 30,2021 respectively, total net profit after tax of Rs. 617.29 lakhs and Rs.2,324.37 lakhs and total comprehensive income of Rs. 58.09 lakhs and Rs. 2,1 79.66 lakhs for the quarter and for the period from April 01,2021 to September 30,2021 respectively and cash flows (net inflow) of Rs. 117.62lakhs for the period from April 01, 2021 to September 30,2021, and for an associate company whose share of net profit is Rs. (14.57) lakhs and Rs. (16.97) lakhs for the quarter and for the period from April 01,2021 to September 30, 2021 respectively as considered in the Statement. These interim financial 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 amounts and disclosures included in respect of these subsidiaries and an associate, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.
In respect of ten subsidiaries located outside India whose interim financial results and other financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which has been reviewed by other auditors under generally accepted auditing
KA LYA N IWA L LA & M ISTRY LLP
interim financial results of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepled in lndia (Indian Accounting Standards "lnd AS"). We have reviewed these conversion adjustments made by the Company's management. Our conclusion in so far as it relates to amounts and disclosures included in respect of such subsidiaries located outside India is based on the reports of the other auditors and the conversion adjustments made by the management of the Company and reviewed by us.
Our conclusion on the statement is not modified in respect of the above matter.
- The Statement includes interim financial results of five subsidiaries incorporated outside India included in the Statement, whose interim financial results reflect total assets of Rs. 1,183.36 lakhs as at September 30,2021and total revenues of Rs. 266.37 lakhs and Rs. 778.84 lakhs for the quarter and for the period from April 01,2021 to September 30, 2021 respectively, total net profit after tax of Rs. (57.28) lakhs and Rs. (21.57) lakhs and total comprehensive income of Rs. (58.34) lakhs and Rs. (45.07) lakhs for the quarter and for the period from April 01,2021to September 30, 2021 respectively and cash flows (net inflow) of Rs. 62.36lakhs for the period April 01, 2021 to September 30,2021 as considered in the Statement. These interim financial results of five subsidiaries are not reviewed as of the date of this report and have been included in the interim financial results on the basis of the Unaudited Management Accounts. According to the information and explanations given to us by the management, these interim financial results are not material to the Group.
Our conclusion on the Statement is not modified in respect of the above matter.
FoT KALYANIWALLA & MISTRY LLP CHARTERED ACCOUNTANTS tion Number 104607W/W100166
Membership Number 127355 FARHAD ESANIA
UDIN : 21127 355 AAAAIX7334 Place: Mumbai Dated: November 12, 2021.
| (Rs.in Lakh) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STANDALONE | CONSOLIDATED | ||||||||||||
| QUARTER ENDED | HALF YEAR ENDED | YEAR ENDED | QUARTER ENDED | HALF YEAR ENDED | YEAR ENDED | ||||||||
| Ńo. | ARTICULARS | 30.09.2021 | 30.06.2021 | 30.09.2020 | 30.09.2021 | 30.09.2020 | 31.03.2021 | 30.09.2021 | 30.06.2021 | 30.09.2020 | 30.09.2021 | 30.09.2020 | 31.03.2021 |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| Total Income from Operations | 13,816.59 | 14,572.85 | 14,677.72 | 28,389.44 | 26,794.66 | 60,004.83 | 31,121.94 | 33,082.64 | 25,681.03 | 64,204.58 | 56,255.42 | 118,710.31 | |
| Net Profit from ordinary activities after taxNet Profit for the period after tax and non-controlling | (699.11) | 473.22 | (101.80) | (225.89) | 279.08 | 828.12 | (388.41) | 2,377.66 | 966.20 | ,989.25 | 3,022.20 | 6,535.80 | |
| interests (after extraordinary items) | ï | (553.41) | 2,235.70 | 589.05 | 1,682.29 | 2,127.87 | 5,096.34 | ||||||
| Income for the periodTotal Comprehensive | (718.31) | 479.09 | (11.57) | (239.22) | 273.31 | 790.15 | (91.600/1 | 2,718.18 | 1,391.26 | 1,709.02 | 3,910.81 | 17,885.84 | |
| Equity Share CapitalOther Equity | ,276.02 | 1,275.91 | ,212.85 | ,276.02 | ,212.85 | 1,274.98 | ,276.02 | 1,275.91 | ,212.85 | 1,276.02 | 1,212.85 | 1,274.98 | |
| 15,188.57 | 63,065.10 | ||||||||||||
| Earnings per share (before and after extraordinary items) (of Re $1/\text{-each}$ | |||||||||||||
| -Basic Rs. | (0.55) | 0.37 | (0.08) | (0.18) | 0.78 | 0.67 | (0.43) | 1.75 | 0.49 | 1.32 | 1.75 | 4.13 | |
| -Diluted Rs. | (0.46) | 0.31 | (0.08) | (0.15) | 0.78 | 0.60 | (0.37) | 1.48 | 0.46 | 1.11 | 1.64 | 3.68 |
Place: MumbaiDate: November 12, 2021
FOR CAMIN FINE SCENCES LIMITEDSubhahDardeau / The CaminaChainman & Managing DirectorChainman & Managing Director
Camlin
Q Registered Office:
Camlin Fine Sciences Ltd. F/II-12, WICEL, Opp. SEEPZ, Central Road, Andheri East, Mumbai 400 093, India.CIN: L74100MH1993PLC075361 | ISO 22000 Certified Company
Operational Highlights
• Demand remained strong however reduction in turnover primarily due to tepid performance of the Company.
One time impacts:
- Loss of production compared to Q1 due to:
- Disruptions in logistics & supply chain;
- Technical issues in scale up of Diphenol Plant at Dahej to attain 100% capacity;
- Consequent impact on production of high volume / high margin products such as TBHQ, BHA, MEHQ & PDMB compared to Q1 leading to reduction in sale of INR 25 crores & margin of approx. INR 12.5 crores;
- Consequent impact on product mix.
- Non‐recurring expenditures amounted to INR 3.50 crore during the Q2.
- Foreign exchange loss during the Q2 of INR 5.03 crore compared to gain of INR 9.63 crore in Q1.
Structural & Other Impacts:
- Un‐precedented increase in logistic cost during the Q2 which could not be passed on immediately – recovered with lag of a quarter – mitigation by way of changing terms to FOB from October 2021, wherever possible.
- Inflationary trend continues in crude impacting the raw material costs.
- Increase in employee costs of INR 1.80 crore yearly increment & induction of managing director & sales personnel and new business heads in the current quarter – benefits of new inductees will start fructifying in subsequent quarters.
- Gross Margins remained stable Q o Q however shy of expected 50%+ margin as increase in selling prices were undone by inflationary conditions and a lag of quarter to pass to the customer.
$$ +91,22,6700,1000 $$
$$ \blacksquare $$ $corporate@ca$
Annexure 2
Appointment of Mr. Rahul Sawale as Company Secretary & Compliance Officer w.e.f. November 12, 2021
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Reason for change | Mr. Rahul Sawale has been appointed as CompanySecretary & Compliance Officer of the Company |
| 2 | Date of appointment & term ofappointment | •w.e.f. November 12, 2021•Company Secretary & Compliance Officer of theCompany |
| 3 | Brief profile | |
| Name of the Company Secretary | Mr. Rahul SawaleICSI Membership No. A29314Educational QualificationAssociate Member of the Institute of CompanySecretaries of India, M.Com. | |
| Work Experience | Mr. Rahul Sawale is an Associate Member ofInstitute of Company Secretaries of India since2012. He brings in 8 + years of experience incorporate predominantly in Company Secretarial,Compliance functions and allied legal matters,across manufacturing industries. |
