Chembond Material Technologies Limited — Annual Report 2021

Jun 8, 2021

sE/cs/2021-22t15 8th June, 2021

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400001 Company Scrip Code - 530871 To,

National Stock Exchange of lndia Limited Exchange Plaza, Plot no. Cl1, G Block, Bandra-Kurla Complex, Bandra (W), Mumbai-400051 Company Scrip Code - CHEMBOND

Ref: lSlN: lNE995D01 025

Sub: Rectification in the standalone audited financial Results for the quarter and year ended 31"t March,2021.

Dear Sir/Madam,

The Companyvide its letterbearing ref. no. SE/CS/2021-22112 dated 1Sth May,2021 submitted the audited financial results (Standalone and Consolidated) of the Company for the quafter and year ended 31't March , 2021 .

It has come to our notice that in the standalone audited financial results under the heading Tax expense we missed to consider a row with heading "Tax in respect of earlier years" amounting to Rs,0.56 lakhs for the quarter I year ended 31st March,2021. Resultantly, the Profit After Tax and Total Comprehensive lncome (standalone) forthe quarter lyear ended 31st March,2021 has changed to that effect.

We submit herewith the rectified Standalone Audited Financial Results & the Consolidated Audited Financial Results for the Quafter lYear ended 31"t March, 2021 for your reference and record.

We hereby confirm that apart from the above there is no change and I or revision in the standalone and consolidated financial results forthe quarler and year ended 31st March,2021 submitted earlier.

We regret the inconvenience caused to you in this regard and request you to kindly take the same on record and acknowledge.

Thanking You,

Yours faithfully,

for CHEMBOND CHEMICALS LIMITED

Suchita Singh Company Secretary & Compliance Officer

Encl: as above

Chembond Chemicals Limited EL-71 Mahape MIDC, Navi Mumbai 400710, INDIA T:+912262643000 - 03 r F: +97222168L294 www.chem bondindia.com CIN: 124100MH1975P1C018235

CHEMBOND CHEMICALS LIMITED CtN L24100tilHl 975pLC018235 Regd Office: Chembond Centre, EL 71, Mahape MlDC,Navi Mumbai.4OO 710

Email id: info@chembondindia.com, Website:www chembondindia,com Standalone Audited Financial Results for the euarter and year ended 3 lst March, 202l

Sr.	Particulars	Quarter Ended			Year Ended
No		31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		Audited	Unaudited	Audited	Audited	Audited
	Revenue from Operations
Ť.	Other Income	1,259.08	1,126 12	1,113 51	4.203 69	5,854.29
$\overline{2}$$\overline{3}$	Total Income	234.93	420 46	113.58	1,191.20	655 81
		1,494.01	1,546,58	1,227.09	5,394.89	6,510,10
	Expenses
	a Cost of materials consumed	439.35	511.80	548 88	1.623 20	2,819 91
	b. Purchases of Stock-in trade	144.46	33.26	14.62	208 73	258 42
	c Changes in inventories of Finished Goods, Work-	951	(0.86)	13.43	6381	141.64
	in-progress and Stock-in-trade
	d Employee Benefit Expenses	151.80	145.80	163 13	598 96	874.26
	e Finance Costs	6 2 2	0.47	3.75	$7 - 11$	7.80
	f Depreciation and Amortisation Expenses	69 47	69.88	71 52	280 46	279 84
	g. Other Expenses	448 53	338.59	479.89	1.347.72	1.597.44
	Total Expenses	1,269.34	1,098.94	1,295.21	4,129.99	5,979.29
5	Profit before exceptional Items and tax	224.67	447.64	(68.12)	1,264.90	530.81
G	Exceptional items	0.00	0.00	n.		÷.
7	Profit before tax	224.67	447.64	(68.12)	1,264.90	530.81
	Tax Expense
	- Current Tax	47.21	86.38	(4009)	266 12	83.29
	- Deferred Tax	4 3 6	12 65	(72, 89)	30 90	(104.75)
	- Tax in respect of earlier years	0.56		(9, 20)	0.56	(1.90)
9	Profit For the Period	172,54	348.61	54.06	967.32	554.16
10	Other Comprehenshive Income / (loss)
	i) items that will not be reclassified to profit or loss	5 5 5	(2, 40)	24.73	(165)	17 55
	ii) Income Tax relating to items that will not be
	reclassified to profit or loss	(1.14)	049	(5.09)	0.34	(3.61)
	Other Comprehenshive income / (loss)	4.41	(1.91)	19.65
	11 Total Comprehensive Income / (loss) for the				(1.31)	13.94
	period	176.95	346.70	73.71	966.01	568,10
	12 Paid-up equity share capital (face value of Rs 5 per	672 41	672 41	672 41	672.41	672 41
	share)
13	Other equity excluding Revaluation Reserve				23,257 87	22,291 87
	14 Earning Per Share (FV of Rs.5 each) (not
	annualised)	1 2 8	2.59
	Basic and Diluted EPS			0.40	7.19	4.12

CHEMBOND CHEMICALS LIMITED ctN L241 00MH1975PLC018235

Regd.Office: Chembond Centre, EL 71, Mahape MlDC,Navi Mumbai ,400 710 Email id :info@chembondindia.com, Website:www.chembondindia.com Standalone Audited Financial Results for the Quarter and ycar ended 31st March, 2021

AS AtPafticulars3',t.03.202131.03.2020AuditedAuditedASSETSNon-current assets(a) Property, plant and equipment3,340.90(b) Capital work-in-progress42.90(c) Other lntangible Assets30 99(d) Financial Assetsi) lnvestments1 3,878 64ii) Other financial assets44 35(e) lncome tax assets (net)271 78(f) Other non-current assets43 68Total Non-current assets17,653.24Current Assets(a) lnventories396 25463.62(b) Financial Assetsi) lnvestments3,058.682,433.64ii) Trade receivables1,697.701 ,841 41iii) Cash and cash equivalents87 335.94o, ativ) Bank balances other than (iii) above93 0.1v) Loans1 ,818 591 ,711 .04vi) Other financial assetsJtoo31 61(c) Current Tax asset (Net)13 3275.30(d) Other current assets98 92194 05Total current assets7,439.37Total AssetsEQUIry AND LIABILITIESEquity(a) Equity Share capital672.41(b) Other equityTotal Equity23,930.28LiabilitiesNon-Current Liabilities(a) Provisions41 04(b) Deferred tax liabilities (Nel)122.21Total Non-current liabilities1 63.25Current liabilities(a) Financial liabilitiesi) Trade payablesTrade payables -MSMED105.92Trade payables -Others633.32ii) Other financial liabilities'1 83 8674 02(b) Other current liabilities194(c) ProvisionsTotal current liabilities999.07	Statement of Assets	at 31 st2021
		As at
			3,590.08
			21.96
			40 35
			I 3,37 1 .60
			42 61
			1 98.89
			'1 10
			17,266.58
			6,705.57
			672.41
			22,964.28
			48 62
			91 31
			1 39.93
			78.27
			550 83
			1 87.98
			48.32
			2.55
			867.94
	Total Equity and Liabilities		23.572.15

Notes

1 The above results for the quarter and Year ended 31 st March, 2021 , nave been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 1sth May,2021 through video conferencing

1. ThisstatementhasbeenpreparedinaccordancewilhtheCompanies(lndianAccountingStandards)Rules,2015(lnd-AS),prescribedunder Section, 133of theCompaniesAct,2013andotherrecognisedaccountingpracticesandpoliciestotheextentapplicable

3 The Company is engaged in the manufacture of Specialty Chemicals, which in the context of IND AS 108- Operating segment specifed under section I 33 of the Companies Act, 201 3 is consrdered as a single business segment of the company.

CHEMBOND CHEMICALS LIMITED

ctN L241 00MH1975PLC01 8235 Regd.Office: Chembond Centre, EL 71, Mahape MlDC,Navi Mumbai - 4OO 7,lO Email id:info@chembondindia.com, Website:www.chembondindia.com Standalone Audited Financial Results for the Quader and Ycar ended 31st March, 2021

• ln line with streamlining business unit operations and to obtain sales synergies, shareholding in Chembond Clean Water Technologies Limited (CCWTL) was transferred to the wholly owned subsidiary Chembond Water Technologies Limited with etfect from 1gth March, 2021, As a result CCWTL is now a step-down subsidiary of the Company.
• The company has evaluated the option permitted under section 'l 1 5BAA of the Income Tax Act, 1 961 (the "Act") as introduced by the TaxationLaws(Ammendment)Ordinance,2019 Accordingly,thecompanyhaspresentlydecidedtocontinuewiththeexlstingtaxstructure
• 1. COVID-l9continuestoimpactnormal businessoperationsoftheCompanyandtheoperatingenvironmentremainschallengingwiththe emergence of second wave of COVID. Necessary precautions to ensure hygiene, safety, and wellbeing of all our employees at all plants have been implemented. The Company has considered the possible effects CoVID-19 may have on the recoverability ind carrying value of its assets comprising Property Plant and Equipment, Goodwill, lnvestments, lnventories and Trade Receivables. Based on current indicators of future economic conditions, the Company expects to recover the carrying amount of these assets. The situation is continuously evolving giving rise to inherent uncertainty around the extent and timing of the potential future impact of the COVID-19 which may be different from that estimated as at the date of approval of these results The Company will continue to closely monitor any material changes arising of future economic conditions and impact on its business
• 1. Thefiguresforthequarterended3lstMatch2o2land3lstMarch2020arethebalancingfiguresbetweenauditedfiguresinrespectofthe full financial year and year to date figures upto 3rd quarter ended 31 st December 2Q2Q and 31 st December 201 9 respectively
• 8 The lndian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Ernployment has released draft rules for the Code on Social Security, 2020 on November 13,2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact tn its financial statemenls in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.
• I The figures for corresponding previous periods have been restated/regrouped, rearranged and reclassified wherever necessary to make them comparable.

By Order of Board of Directors For CHEMBOND CHEMICALS LIMITED sameer vinod li$H'^"q-*' shah ?l:*:"*''-'-

Place : Mumbar Date : 1sth May,2021 Sameer V. Shah Chairman & Managing Director

CHEMBOND CHEMICALS LTD

Cash Flow Statement for the year ended 31.03.2021

					ln Lakh
		31.03.2021			31.03.2020
A	Cash Flow frorn Operating Activities
	Proflt before tax		1,264 89		530.80
	Adjustments for:
	Depreciation and amortisation	280.46		279 84
	Loss on Sale of Property,Plant & Equipment	506
	Finance Cost	7 .11
			292.63		284.70
	Less :
	Foreign Exchange Fluctuation
	Net Gain on lnvestments	883.90		15 91
	Profit on Sale of Property,Plant & Equipment			(1s.23)
	Dividend Received	384		20.72
			(a87 74	442.83	,464.23\
	Operating Profit before working capital changes
	Adjustments for :		669.78		351.26
	Trade and Other Receivables	(200.64)
	lnventories			559 22
	Trade and Other Payables	67 37121 A9		378.85(924.45\
			(11.39)
	Cash generated from operalions		658.39		13.63
	lncome taxes paid (Net of Refund)		(277 24)		364.89
					(1 65.47)
	Net Cash from Operating Activities (A)		381 .1 5
					199.42
B	Cash Flow from lnvesting Activities
	Payment to acquire Property, plant & equipments
	Proceeeds from Sale of Property, plant & equipments		(63 33)		(3e5.25)
	Purchase of lnvestment		15 40(4,045.s6)		247 37
	Sale of lnvestment		2 aoa ea		(3,02e.43)
	Dividend lncome		344		2,956.97
	Net Cash from lnvesting Activities (B)				442 83
					222.49
c	Cash Flowfrom Financing Activites
	Proceeds/(Repayment) of Short Term Borrowings
	Dividend paid				(537.s3)
	Tax on dividend paid				(2o.75)
	Finance Cost		(7 11)		(4.86)
	Net Cash from Financing Activities (C)		(7 11\		(563.54)
	Net (Decrease)/lncrease in Cash & Cash Activities (A+B+C)		81.78		(141.61)
	Cash and Cash Equivalents and Other Bank Balances as on Opening		98 56		240.17
	Cash and Cash Equivalents and Other Bank Balances as on Closing
			180 34		98 56

By Order of Board of Directors For CHEMBOND CHEMICALS LIMITED

sameer Digitallysgned by vinod sha h ?;,fi ::'lJ,';l: SameerV Shah Chairman & Managing Director

Place : Mumbai Date: 1sth May,2021

Independent Auditor's Report on the quarterly and year to date Standalone Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of Chembond Chemicals Limited

Opinion

We have audited the accompanying statement of quartetly and year to date Standalone Financial Results of Chembond Chemicals Limited (the "Company") for the quarter ended March 31,2021 and fbr the year ended March3l,202l ("Statement") (refer "Other Matters" section below), attached herewith, being submitted by the Conipany pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statenrent:

• is presented in accot'dance with the requirements of Regulation 33 of the Listing Regulations; and
• gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial infolmation of the Company for the quarter ended March 3l , 2021 and for the year ended March 31, 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 Standards are further desclibed inAuditor's Responsibiliries section below. We are independent of the Cornpany in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") togethel with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31,2021under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in aacordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Bathiya & Associates LLP

202-A, Harmony Court Naka, Station Road Thane (W) - 400601

T: 022 25300059 / 25420059 E: info@bathiva.com bathiya.com

HATHIYA

Emphasis of Matter

We draw attentiort to Note 6 to the Standalone Financial Results, which describes the uncertainties and the impact of the Covid-19 pandemic on the Company's operations and results as assessed by the management. The actual results may differ from such estimates depending on future developments. Our opinion is not modified in respect of this matter.

I

Management's Responsibilities for the Statement

The Staternent has been prepared on the basis of the standalone financial statements. The Board of Directors of the Cornpany are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information of the Company in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder 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 accoldance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting fi'auds and other irregulalities; selection and application of appropriate accounting policies; rnaking 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 the accuracy and completeness of the accounting records, relevant to the preparation and presentation ofthe Staternent that give a true and fairview and are free from material misstatement, whethel due to fraud or error.

In preparing the Statement, 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 at'e also responsible for ovelseeing the financial reporting process of the Company.

Auditor's Responsibilities

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is fi'ee fi'om material misstatement, whether due to fraud ol erroL, and to issue an auditor's report that includes our opinion. Reasonable assulance is a h igh 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 ofusers taken on the basis of the Statement.

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

• Identifu and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perfotm 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, tnisrepresentations, ol the override of internal control.
• Obtain an understanding of internal contlol relevant to the audit in order to design audit plocedures that are appropriate in the circumstances. Under Section 143(3Xi) of the Act, we are also responsible for expressing oul opinion on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such contt'ols.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures rnade by the Board of Directors.
• Conclude on the appropriateness of the 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 Company's ability to continue as a going concern. If we conclude that a material uncefiainty exists, we ate required to draw attention in our auditor's repoft to the related disclosures in the financial results or, if such disclosures are inadequate, to modifu our opinion. Our conclusions are based on the audit evidence obtained up to the date ofour auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other mattets, the planned scope and timing of the audit and significant audit findings, including any significant dehciencies 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 appli cable, related safeguards.

Page 3 of 4

The Statement includes the results for the quarter ended March 31,2021and the coruesponding quafier ended in the previotts year as reported in the Statement being the balancing figure between the audited figures in respect of the fuIl financial year and the published unaudited year-to-date figures up to the third quarter of the respective financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For Bathiya & Associates LLP,

Chartered Accountants Firm Registration No, 101046W / W100063

Jatin Digitally signed byJatin Ashok Thakkar D;fdi202r 05,15 16:46133 +05'30'

Jatin A. Thakkar Partner Mernbership No. 134767

Place: Mumbai. Date: May 15,2021 UDIN : 2l 13 47 67 AAAACAS g8 I

CHEMBOND CHEMICALS LIMITED

clN L241 00MH1975PLCo1 8235

Regd.Office: Ghembond Centre, EL 71, Mahape MlDC,Navi Mumbai - 4OO 710 Email id:info@chembondindia.com, Website:www.chembondindia.com

consolidated Audited Financial Results for the euarter and year Ended 31st March, 2021

Sr,	Particulars	Consolidated
No		Quarter Ended			Year Ended
		31.03.2021	31.12.2021		31.03.2021	3
		Audited	Unaudited		Audited	Audited
1	Revenue from operations	8,221.73	7,519.69	6,314.47	27,444.58	26,804 28
2	Other lncome	2't6 10	605 44	ot.24	1,533 09	303.78
J	Total lncome	8,437.83	8,125.14	6,375.71	28,977.67	27,1 08.06
4	Expenses
	a. Cost of materials consumed	3,869 22	3,345 01	2,809.26	12,187.93	1 2,333 30
	b Purchases of Stock-in trade	905 96	491.54	607.25	2,181.99	1,970 57
	c Changes in inventories of Finished Goods,Work-in-progress and Stock-in{rade	(258.e2)	3.1 0	(1 I 53)	(37. e5)	(1 16 75)
	d. Employee Benefit Expenses	1,380.40	1 ,38't .85	1,436 68	5,395 60	5,716.43
	e Finance Costs	16.98	7 71	15.86	42 19	78.29
	f Depreciation and Amortisation Expenses	115.92	114 56	1 14.38	455 45	434.80
	g. Other Expenses	1,823.82	1,649.26	1,886.79	5,899.48	5,902.21
	Total Expenses	7,853.38	6,993.04	6,858.69	26,124.75	26,31 8.85
5	Profit before exceptional ltems and tax	584.45	1,132.10	(482,98)	2,852.92	789.21
6	Exceptional items
7	Profit before tax	584.45	1,'132.'t0	(482.s8)	2,852.92	789.21
8	Tax Expense
	- Current Tax	211.31	271 18	29.47	901 11	496 05
	- Deferred Tax	(51.12)	(e.3 1 )	499	(52 41)	(7 30)
	- Tax in respect of earlier years	0.93		(1 5 34)	(36 67)	(8.04)
I	Profit For the Period	423.33	870.23	(s02.1 0)	2,040,89	308.50
10	Other Comprehenshive lncome
	i) ltems that will not be reclassified to profit or	70 50	(1 6.87)
	loss			75.44	19 91	39 37
	ii) lncome Tax relating to items that will not be	(1 3 64)		(5.40)	(3 85)
	reclassified to profit or loss					tJd
	Other Comprehenshive lncome / (loss)	56.86	(r 3.61)	70.04	16.06	40.75
11	Total Comprehensive lncome	480.1 I	856.63	(432.06)	2,056.95	349.25
12	Net profit attributable to:
	- Shareholders of the Company	504.69	844 79	(612.74)	2,034.43	187.29
	- Non Controlling lnterests	(81 36)	25.44	110.66	6.45	121 2',1
13	Other Comprehensive lncome attributable to-
	- Shareholders of the Company	56 00	(1 3 32)		16 05	42.06
	- Non Controlling lnterests	0.86	(0.28)	(1 31)	0.01	(1 31)
14	Paid-up equity share capital (face value of Rs 5per share)	672 41	672 41	672.41	672.41	672 41
	Other equity excluding Revaluation Reserve as
15	per baiance sheet				28,646 73	26,1 95 53
16	Earning Per Share ( of Rs.5 each) (not
	annualised)					I
	Basic EPS	375	6.28	(4.56)(4.56)	1513	"O I CO
	Basic and Diluted EPS	375	6 28		15 13

	as at 31st March 202'l	in Lakh
Particulars	As at31.O3.2024	As at 31.03.2020
	Audited	Audited
ASSETS
Non-current assets1
(a) Property, plant and equipment	4,602.99	4,824.79
(b) Capital work-in-progress	36.75	7.08
(c) Goodwill	7,489.45	7,489 45
(d) Other lntangible Assets	62 94
(e) Financial Assets		77.O2
i) lnvestments	3,520.17
ii) Other financial assets		2,063.95
(f) Deferred tax Assets (Net)	491.45	787.49
(g) lncome tax assets (net)	208.46	157.10
	616.56	569.81
(h) Other non-current assets	79.15	20.45
Total Non-current assets	17 ,107.92	1 5,997.1 I
Current Assets2
(a) lnventories	2,932.94	2,732.98
(b) Financial Assets
i) lnvestments	3,763.04	3,066.47
ii) Trade receivables	8,353.24	8,240.61
iii) Cash and cash equivalents	968.96	245.73
iv) Bank balances other than (iii) above	1 ,571.60	1,10679
v) Loans	35.1 9	45.87
vi) Other financial assets	59.31	bb.zb
(c) Current Tax asset (Net)	10.02	17 5.92
(d) Other current assets	609.8 1	529.84
Total current assets	1 8,304.1 1	't6,210,47
Total Assets
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital	672 41	672.41
(b) Other equity	28
(c)Equity attributable to the owners of the
company	29,315.14	26,867.93
(d) Non Controlling interest	125.35	524 el
Total Equity	29	27,392.84
Liabilities
Non-Current Liabilities1
(a) Financial liabilities
i) Borrowings	64.09	74 20
(b) Provisions	126.65	1 13.38
(c) Defened tax liabilities (Net)
Total Non-current liabilities
Current liabilities2
(a) Financial liabilities
i) Borrowings	123.97	263.62
ii) Trade payables
Trade payables -IVISMED	664.93	605.03
Trade payables -Others	3,657 10	2,810.53
iii) Other financial liabilities	899.71	699.81
(b) Other current liabilities	422 00	239.36
(c) Provisions
Total current liabilities	5,776.80	4,627.24
Total Equity and Liabilities

Notes:

• 'fhe above resu lts for the quarter and year ended 31 st March, 2021 , have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 1sth May,2OZ1 through video conferencing
• This Statement has been prepared in accordance with the Companies (lndian Accounting Standards) Rules, 20i s (lnd-AS), prescribed under Section, 1 33 of the Companies Act, 20'1 3 and other recognised accounting practices and policies to the extent applicable.
• The group is engaged in the manufacture of Specialty Chemicals, which in the context of IND AS '108- Operating segment specifed under section 1 33 of the companies Act, 201 3 is considered as a single business segment of the group. 3
• ln line with streamlining business unit operations and to obtain sales synergies, shareholding in Chembond Clean Water Technologies Limited (CCWTL) was transferred to the wholly owned subsidiary Chembond Water Technologies Limited with effect from.1gth March, 2021 As a result CCWTL is now a step-down subsidiary of Chembond Chemicals Limited 4
• 'fhe Group has decided to continue with the existing tax structure except for one subsidiary company which has provided for currenl and deferred tax at the rate prescribed under Section 1 1 5BAA of the lncome Tax Act, 1 961 5
• COVID-19 continues to impact normal business operations of the Group and the operating environment remains challenging with the emergence of second wave of COVID. Necessary precautions to ensure hygiene, safety, and wellbeing of all our employees at all plants have been implemented. The Group has considered the possible effects COVID-19 may have on the recoverability and carrying value of its assets comprising Property Plant and Equipment, Goodwill, lnvestments, lnventories and Trade Receivables. Based on current indicators of future economic conditions, the Group expects to recover the carrying amount of these assets. The situation is continuously evolving giving rise to inherent uncertainty around the extent and timing of the potential future impact of the COVID-19 which may be differentfrom that estimated as at the date of approval of these results. The Group will continue to closely monitor any material changes arising of future economic conditions and impact on its business 6

Additional lnformation on Standalone Basis are as Follows:

Standalone Details		Quarter Ended
	31.03.2021	1-12.2020	31.03.2020	31.03.202',1	31.03.2020
	Audited	Unaudited		Audited	Audited
	1,259 08	1.126.12	1 .1 13.5't	4 203 69	5,854.29
Profit Before Tax	224 67	447.64		1.264.90	530 81
Profit for the oeriod		348 61	54.06	967.88

Profit for the period includes dividend received for the quarter and year ended 31st March, 2020 of Rs. Nil (Rs. Nil) and Rs.Nil (Rs 437 Lakhs) respectively from Subsidiary Company.

The figures for the quarter ended 31 st Match 2021 and 31 st March 2020 are the balancing figures between audited figures in respect of the full financial year and year to date figures upto 3rd quarter ended 31st December 2020 and 31st December 2019 respectively

• 9, -l-he lndian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the group towards Provident FundandGratuity TheMinistryof LabourandEmploymenthasreleaseddraftrulesfortheCodeonSocial Security,2020onNovember13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Group will assess the impact and its evaluation once the subject rules are notified and will give appropriate lmpact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.
• 10 'lhe figures for corresponding previous periods have been restated/regrouped, rearranged and reclassified wherever necessary to make them comparable.

By Order of the Board of Directors For CHEMBOND CHEMICALS LTD

sameer vinod ?::lHf*q"* shah

Sameer V. Shah Date : 1sth May,2021 Chairman & Managing Director

Place : Mumbai

CHEMBOND CHEMICALS LTD

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

	Particula rs		31.03.2021		31.03.2020
A	Cash Flow from Operating ActivitiesProfit before taxAdjustments for:		2,852.90		789.20
	Depreciation and amortisationLoss on Sale of Property, plant & equipmentsFinance Cost	455.455.0642 19		434 800.0578.29
	Less		502.71		513.14
	Forei gn Exchange FluctuationNet Gain on sale of lnvestmentsFair valuation of lnvestments (Net)Effect of previous year transaction/Preacquistion profitsDividend Received	060413.70864.78(22 8e)645		4q 10223.47(397.65)(1,223.46)10 32
	Operating Profit before working capital changes		(1.262.63<br>2,092.98		1 331 832,634.17
	Adjustments for:Trade and Other ReceivableslnventoriesTrade and Other Payables	62.41(2o0,26)1 323.00		1,162 11(267.66)(433.37)
			1.185.15		461 07
	Cash generated from operationslncome taxes paid (Net of Refund)		3,278.13(777 05)		3,095.24(72e.25)
	Net Cash from Operating Activities (A)		2,501.09		2 366 00
B	Cash Flow from lnvesting ActivitiesPayment to acquire Property, plant & equipmentsProceeeds from Sale of Property, plant & equipmentsPurchase of lnvestmentSale of lnvestmentDividend lncomeNet Cash used in lnvesting Activities (B)		(436.75)182.44(6,378 72)5,504.426.45(1.122.16]		(1,959 55)250.03(3,309 32)3,820.1610 32(1 ,1 88.36)
c	Cash Flow from Financing Activites
	Proceeds/(Repayment) of Short Term BorrowingsDivrdend paidTax on dividend paidProceeds/(Repayment) of Long Term BorrowingsFinance Cost		(1 38 5e)(1011)(42.1e)		(353.38)(537.e3)(17 5.1 1)22.05(78.2e)
	Net Cash from Financing Activities (C)		(1 90 88)		(.122.66\
	Net (Decrease)/lncrease in Cash & Cash Activities (A+B+C)Cash and Cash Equivalents and Other Bank Balances as on Opening		1 88 04AE' E'		54.971,297.55
	Cash and Cash Equivalents and Other Bank Balances as on Closinq		2 540 57		1 352 52

By Order of the Board of Directors For CHEMBOND CHEMICALS LTD

sameer gflIlji*"i:l vi n od s h a h ",ili,13'l"l'#

SameerV. Shah Chairman & Managing Director

Place : Mumbai Date : 15th May,2021

Independent Auditor's Report on the quarterly and year to date Consolidated Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of Chembond Chemicals Limited

Opinion

We have audited the accompanying statement of quafterly and year to date Consolidated Financial Results of Chembond Chemicals Limited (the "Company") and its subsidiaries and step down subsidiaries (the Cornpany and its subsidiaries and step down subsidiaries together refered to as "the Group") for the quarter ended March 31, 202I and for the year ended March 31, 2021 ("Statement") (refer "Other Matters" section below), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended (the "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 the audit reports of the other auditors on separate financial statements I financial information of subsidiaries and step down subsidiaries referred to in Other Matters section below, the Consolidated Financial Results for the quafter and year ended March 31,2027:

Name of the entity	Relationship
Chembond Chernicals Limited	Holding Company
Chembond Water Technologies Limited	Subsidiary Company
Chembond Polymers and Materials Limited	Subsidiary Company
Chembond Calvatis industrial Hygiene Systems Limited	Subsidiary Company
Chembond Material Technologies Private Limited	Subsidiarv Comoanv
Chembond Biosciences Limited	Subsidiary Company
Phiroze Sethna Plivate Limited	Subsidiary Company
Chem bond Distribution Limited	Subsidiary Company
Chembond Water Technologies (Malaysia) Sdn. Bhd.	Step down Foreign
(Formerly known as Chembond Chemicals (Malaysia)	Subsidiary Company
Sdn. Bhd.)
Chembond Clean Water Technologies Limited	Step down Subsidiary
	Company
Gramos Chemicals India Private Limited	Step down Subsidiary
	Company

Includes the results of the following entities

Bathiya & Associates LLP

202-A, Harmony Court Naka, Station Road Thane (W) - 40060'1

T: 022 25300059 / 25420059 E: info@bathiva.com bathiya.com

HATI.JIYA

• is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
• 1l l. gives a true and fair view in conformity with the applicable accounting standards and othel accounting principles generally accepted in India, of the net profit and other comprehensive loss and other financial information of the Group for the quarter ended March 31,2021 and for the year ended March 31,2021 .

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act,2073 ("the Act"). Our responsibilities under those Standards are further described in Auditor's Responsibilities section below. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Charteled Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the year ended March 31,2021under the provisions of the Act and the Rules thereunder, and we have fulfilled oul other ethical responsibilities in accot'dance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of Matter

We draw attention to Note 6 to the Consolidated Financial Results, which describes the uncertainties and the impact of the Covid-19 pandemic on the Group's operations and results as assessed by the management. The actual results may differ from such estimates depending on future developments. Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Statement

The Statement has been prepared on the basis of the consolidated financial statements. The respective Board of Directors of the companies included in the Group are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive incotne and other financial information of the Group in accordance with the applicable accounting standards prescribed under' Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance withRegulation 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 ofthe Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgrnents and estimates that ale reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation ofthe Statement that give a true and fair view and are free fi'om material misstatement, whether due to fraud or error.

In preparing the Statement, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the respective companies to continue as a going conceln, 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 their respective companies or to cease operations, or has no realistic alternative but to do so.

The respective Board of Dilectors of the companies included in the Group are also responsible for overseeing the financial reporting process ofthe Group.

Auditor's Responsibilities

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fi'aud 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 il individually or' in the aggregate, tl,ey could leasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

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

• Identify and assess the risks of material misstatement of the Statement, 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 lesulting flom fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override ofinternal control.
• 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(3XD of the Act, we are also responsible for expressing our opinion on whether the Group has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Dilectors' 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 Group's ability to contintte as a going concern. 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 financial results or, if such disclosures are inadequate, to modiff our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events ol conditions may cause the Group to cease to continue as a going concel'n.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
• Perform procedures in accordance with the Circular no. CIR/CFDICMD1l4412019 dated March 29,2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Page 3 of 5

FATHIYA

Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results/ Financial Information of the companies within the Group to express an opinion on the Consolidated Financial Results. We ale responsible for the direction, supervision and performance of the audit of financial information of such entities inctuded in the Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, superuision and performance of the audits camied out by them. We remain solely responsible for ou'audit opinion.

We communicate with those charged with governance of the Company and such other companies included in the Consolidated Financial Results of which we are the independent auditors regarding, arnong 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.

Other Matters

We did not audit the financial statements of three Indian subsidiaries and one step down subsidiary that are included in the Consolidated Financial Result, whose financial statement reflect total asset of Rs. 7,1 00 lakhs as at March 31, 2021 , total revenues of Rs. 3,416.46 lakhs and Rs. 10,303.42 lakhs for the quarter and year ended March 31,2021 respectively, total loss after tax of Rs (43.37) lakhs and Pts. (242.2\ takhs forthe quarter and year ended March 31,2021respectively, other comprehensive income of Rs. 37.48 lakhs and Rs. 14.30 lakhs for the quarter and year ended March31,202l respectivelyandnetcashinflowofRs. l63.55lakhsfortheyearendedMarch3l, 2027,as considered inthe Statement. These financial statements have been audited by the other auditors, whose reports have been furnished to us by the management and our opinion on the Statement, in so far as it relates to the amounts and disclosure included in respect of these subsidiaries and step down subsidiary is based solely on the repofis of the other auditors and the procedures performed by us as stated under the Auditors Responsibilities section above.

The financial results of the step down foreign subsidiary included in the Statement, whose financial results reflects total asset of Rs. 104.13 lakhs as atMarch 31,2021 , total revenues of Rs. 34.30lal<hsandRs. I4l.lT lakhsforthequafterandyearendedMarch3l,202lrespectively,total plofit / (loss) after tax of Rs. (1.05) lakhs and Rs. 10.62 lakhs for the quarter and year ended March 31,202I respectively, othel comprehensive income of Rs. Nil and Ri. Nil for thl quarter and year ended March 31,2021 respectively are audited by other auditors according to accounting principles genelally accepted in that foreign country. The Holding Company's management has convet'ted the financial results of such foreign subsidiary fi'om accounting principles generally accepted in that foleign country to accounting principles genelally accepted in India. Accordingly, our report on the Statement, in so far as jt relates to the arnounts and disclosures included in respect of the said subsidiary is based solely on the basis of the said financial results certified by the

F,ATHI.YA

management. In our opinion and according to the information and explanations given to us by the Board ofDirectors, these financial statements / financial information are not material to the Group.

our repoft on the Statement is not modified in respect of the above matters.

The Statement includes the results for the quafter ended March 31,2021and the coruesponding quarter ended in the previous year as reported in the Statement being the balancing figure 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 respective financialyear, which were subjected to a limited review by us, as required under the Listing Regulations.

For Bathiya & Associates LLP,

Chartered Accountants Firm RegistrationNo. 101046W / Wl00063

Jatin Disitallysisned bvlatln A(hok Ashok tiattar Datei.202l.05.1 s Ihakkar r6:44:43 +os.3o,

Jatin A. Thakkar Partner Membership No. 134767

Place: Mumbai. Date: May 15,2021 UDIN: 2l 13 4'7 67 AAAACB6265 a