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Emami Ltd Interim / Quarterly Report 2022

Aug 2, 2021

61637_rns_2021-08-02_fc87b362-c4d7-4025-a3ee-3916b6e2d8a2.pdf

Interim / Quarterly Report

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The Secretary The National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, G. Block Bandra Kurla Complex, Bandra (E) Mumbai - 400 051

Date: 2nd August, 2021

The Secretary BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

Dear Sirs,

Sub: Unaudited Financial Results for the First Quarter ended 30th June, 2021

Pursuant to Regulation 30 & 33 (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith Unaudited Standalone and Consolidated Financial Results of the company along with Limited Review Reports for the first quarter ended 30th June, 2021 which have been duly approved by the Board of Directors of the company in its meeting held today i.e. 211d August, 2021. The Board meeting commenced at 12:15 p.rn. and concluded at p.m. 13 :40

The full format of the Standalone and Consolidated Financial Results for the first quarter ended 30th June, 2021 shall be available on the website of the Stock Exchanges www.nseindia.com, www.bseindia.com and also on the company's website at w,vw.emarniltd.in

Tha,_nkingYou, Yours Sincerely, For Emami Limited

?

A. K. Joshi Company Secretary & VP- Legal (Encl. : As above)

22, Camac Street 3rd Floor, Block 'B' Kolkata – 700 016, India

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Emami Limited

    1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Emami Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), and its associates for the quarter ended June 30, 2021 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
    1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
    1. We conducted our review of the Statement in accordance with the Standard on Review 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 Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Chartered Accountants

  1. The Statement includes the results of the following entities
Entity Relationship
Emami Bangladesh Limited Subsidiary of Emami Limited
Emami International FZE Subsidiary of Emami Limited
Emami Indo Lanka (Pvt) Limited Subsidiary of Emami Limited
Emami RUS (LLC) Subsidiary of Emami International FZE
Crème 21 GMBH (Formerly Fentus 113. Subsidiary of Emami International FZE
GMBH)
Emami Overseas FZE Subsidiary of Emami International FZE
PharmaDerm Company SAE. Subsidiary of Emami Overseas FZE
Helios Lifestyle Private Limited Associate of Emami Limited
Brillare Science Private Limited Associate of Emami Limited
  1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

6. Emphasis of Matter paragraph

We draw attention to note 6 to the consolidated financial results, which describes the uncertainties and potential 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 conclusion is not modified in respect of this matter

    1. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of:
    • Four (4) subsidiaries, whose unaudited interim financial results include total revenues of Rs 7,449 lacs, total net profit after tax of Rs. 446 lacs, total comprehensive income of Rs. 448 lacs, for the quarter ended June 30, 2021, as

considered in the Statement which have been reviewed by their respective independent auditors.

One (1) associate, whose unaudited interim financial results include Group's share of net loss of Rs. 14 lacs and Group's share of total comprehensive loss of Rs. 14 lacs, for the quarter ended June 30, 2021, as considered in the Statement whose interim financial results, other financial information have been reviewed by its independent auditor.

The independent auditor's reports on interim financial information/ financial results of these entities 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 in respect of these subsidiaries and an associate is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.

The aforesaid subsidiaries are located outside India whose financial results and other financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company's management has converted the financial results of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Holding Company's management. Our conclusion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and reviewed by us.

    1. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of:
    • Three (3) subsidiaries, whose interim financial results and other financial information reflect total revenues of Rs 197 lacs, total net loss after tax of Rs. 53 lacs, total comprehensive loss of Rs. 53 lacs, for the quarter ended June 30, 2021.
    • One (1) associate, whose interim financial results includes the Group's share of net loss of Rs. 138 lacs and Group's share of total comprehensive loss of Rs. 138 lacs, for the quarter ended June 30, 2021.

The unaudited interim financial information/ financial results and other unaudited financial information of the these subsidiaries and an associate have not been reviewed by any auditor and have been approved and furnished to us by the Management and our Chartered Accountants

conclusion on the Statement, in so far as it relates to the affairs of these subsidiaries and an associate, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these interim financial information/financial results are not material to the Group.

Our conclusion on the Statement in respect of matters stated in para 7 and 8 above is not modified 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 Management.

For S.R. BATLIBOI & CO. LLP Chartered Accountants ICAI Firm registration number: 301003E/E300005

Digitally signed by Sanjay Kumar Agarwal Sanjay Kumar Agarwal

DN: cn=Sanjay Kumar Agarwal, c=IN, o=S R Batliboi & Co. LLP, ou=Assurance, email=[email protected] Date: 2021.08.02 13:38:11 +05'30'

per Sanjay Kumar Agarwal Partner Membership No.: 060352

_______________________

UDIN: 21060352AAAACS9535

Place : Kolkata Date : August 02, 2021

EMAMI LIMITED

CIN No: L63993WB1983PLC036030

Regd. Office :- Emami Tower, 687 Anandapur, E. M. Bypass, Kolkata 700 107, West Bengal UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE' 2021

र in Lacs
PARTICULARS Year EndedQuarter Ended
S.N. 30.06.2021 31.03.2021 30.06.2020 31.03.2021
Unaudited Audited(Refer note 7) Unaudited Audited
1 Income:
(a) Revenue from Operations 66,095 73,076 48,134 2,88,053
(b) Other Income 1,072 4,650 670 7,027
Total Income 67,167 77,726 48,804 2,95,080
$\overline{2}$ Expenses:
(a) Cost of Materials Consumed 18,394 19,021 9,780 70,855
(b) Purchases of Stock-in-trade 4,331 9,531 4,349 24,009
(c) (Increase) / Decrease in Inventories of Finished Goods, Stock in (263) (1,271) 2,005 (1,940)
trade and Work-in-Progress.
(d) Employee Benefits Expense 8,450 7,595 7,813 30,917
(e) Advertisement and Sales Promotion 10,986 13,498 5,971 45,813
(f) Other Expenses 7,226 8,422 5,918 30,094
Total Expenses 49,124 56,796 35,836 1,99,748
Earnings before Share of loss of associates, Interest, Depreciation &
3 Amortisation and Tax (1-2) 18,043 20,930 12,968 95,332
4 Finance Costs 64 472 470 1,327
5 Profit After Finance costs but before Share of loss of associates,Depreciation & Amortisation and Tax (3-4) 17,979 20,458 12,498 94,005
6 Depreciation & Amortisation Expense:
a. Amortisation of Intangible assets (Refer note 2) 5,961 5,893 5,543 26,785
b. Depreciation of Tangible assets (Refer note 2) 2,170 2,241 1,770 9,248
c. Depreciation of Right of Use Assets 169 162 166 662
$\overline{7}$ Profit before Share of loss of associates & Tax (5-6) 9,679 12,162 5,019 57,310
8 Share of (Loss) of associates (152) (134) (113) (418)
9
Profit before Tax (7-8) 9,527 12,028 4,906 56,892
10 Tax Expense:
Current Tax (including MAT) 2,131 2,868 1,267 11,474
Deferred Tax charge/(credit) (383) 387 (319) (53)
11 Profit After Tax (PAT) (9-10) 7,779 8,773 3,958 45,471
12 Other Comprehensive Income:
Items that will not be reclassified to Profit or Loss in subsequentperiods 2,773 1,606 2,341 5,905
Income tax relating to items that will not be reclassified to statement ofprofit and loss (9) (17) (4) (27)
Items that will be reclassified to Profit or Loss in subsequent periods (69) 62 18 257
13 Total Comprehensive Income for the period/Year (11+12) 10,474 10,424 6,313 51,606
14 Profit attributable to:
a) Equityholders of the parent 7,779 8,773 3,960 45,470
b) Non-controlling Interest (2) -1
15 Total Comprehensive Income attributable to:
a) Equityholders of the parent 10,475 10,424 6,319 51,608
b) Non-controlling Interest (1) (6) (2)
16 Cash Profit (PAT attributable to the equityholders of the parent +Depreciation & Amortisation) (14a + 6) 16,079 17,069 11,439 82,165
17 Paid - up Equity Share Capital (Face Value - Re 1/- per Share) 4,445 4,445 4,456 4,445
18 Other Equity 1,71,820
19 Earnings per Share (in Rs.)
(Face value of Re 1/- each) (not Annualised except for the year ended
March 31, 2021)Limited 1.75 1.97 0.88 10.23
(a) Basic(b) Diluted 1.75 1.97 0.88 10.23
$6 - 700107$(c) Cash 3.62 3.84 2.54 18.48

Separation Separn

$AD$

NOTES TO CONSOLIDATED FINANCIAL RESULTS

  1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 2nd August, 2021.

The Limited Review of the results for the Quarter ended 30th June, 2021 as required under Regulations 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulation, 2015, has been completed by the Statutory Auditor of the Company."

  1. Considering the Dynamic market condition, the management had revised the useful life of Tangible assets related to Moulds from 10 years to 7 years during the previous year resulting in an increase in depreciation by Rs. 285 lacs for the quarter ended 30 June, 2021.

Also, useful life of Intangible assets related to acquired Brands and Trademarks was revised from 10 years to 7 years during the previous year resulting in an increase in amortisation by Rs. 3,330 lacs for the quarter ended 30 June, 2021.

  1. The above consolidated financial results includes unaudited/unreviewed interim financial results and other unaudited financial information in respect of three (3) subsidiaries, whose interim financial results and other financial information reflect total revenues of Rs 197 lacs, total net loss after tax of Rs. 53 lacs, total comprehensive loss of Rs. 53 lacs, for the quarter ended June 30, 2021 and one (1) associate, whose interim financial results includes the Group's share of net loss of Rs. 138 lacs and Group's share of total comprehensive loss of Rs. 138 lacs for the quarter ended June 30, 2021.

The management believes that there would not be any significant impact, had these financial information been subjected to limited review by the auditors.

  • The Code on Social Security, 2020 ('Code') relating to employee benefits during 4. employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Holding Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
    1. During the quarter, Company had made further investment aggregating Rs 5,000 lacs in its associate i.e. Helios Lifestyle Private Limited (Helios) by subscribing to its Equity Shares, which has resulted in increase in Company's stake in Helios from 33.09% to 45.96%.
    1. Recently, there has been a spike in the COVID-19 cases again in some of the countries and as a result, all these countries are currently closely monitoring the situation. Some of the countries have imposed restrictions on the free flow of public in their respective countries in varied manner. The management is monitoring the situation closely and is operating its plants and depots with the required workforce as permitted by the respective

ami Limite Sepenn $\eta$ anut

Governments. The management has made an initial assessment, based on the current situation, of the likely impact of the COVID-19 on overall economic environment and on the Group, in particular, based on which it expects the demand to remain stable; and further, does not anticipate any challenge in the Group's ability to continue as a going concern or meeting its financial obligations. The Group has considered the possible effects that may arise out of the still unfolding COVID-19 pandemic on the carrying amounts of property, plant & equipment, intangible assets, investments, inventories, trade receivables, etc. and the Group does not expect any significant impact on such carrying values. However, the above evaluations are based on internal and external information available upto the date of approval of these financial results, which are very dynamic and subject to uncertainties that COVID-19 outbreak might pose on economic recovery.

    1. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year up to March 31, 2021 and the unaudited published year-to-date figures up to December 31, 2020, being the date of the end of the third quarter of the financial year, which were subjected to limited review.
    1. As the Group business activity falls within a single operating segment, viz, "Personal and Healthcare", no separate segment information is disclosed.
  • Company's 9. These financial results are available on the website at http://www.emamiltd.in.

For and on behalf of the board

SGOUL

Place: Kolkata Date: 2nd August, 2021

Sushil Kr. Goenka Managing Director

Tel: +91 33 6134 4000 Chartered Accountants

22, Camac Street 3rd Floor, Block 'B' Kolkata – 700 016, India

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Emami Limited

    1. We have reviewed the accompanying statement of unaudited standalone financial results of Emami Limited (the "Company") for the quarter ended June 30, 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 (the "Listing Regulations").
    1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
    1. We conducted our review of the Statement in accordance with the Standard on Review 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 Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
    1. 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 recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Chartered Accountants

5. Emphasis of Matter paragraph

We draw attention to note 6 to the standalone financial results, which describes the uncertainties and potential 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 conclusion is not modified in respect of this matter.

For S.R. BATLIBOI & CO. LLP Chartered Accountants ICAI Firm registration number: 301003E/E300005

Sanjay Kumar Agarwal

Digitally signed by Sanjay Kumar Agarwal DN: cn=Sanjay Kumar Agarwal, c=IN, o=S R Batliboi & Co. LLP, ou=Assurance, email=[email protected] Date: 2021.08.02 13:37:47 +05'30'

___________________________________

per Sanjay Kumar Agarwal Partner Membership No.: 060352

UDIN: 21060352AAAACR8393

Place : Kolkata Date : August 02, 2021

EMAMI LIMITED CIN No: L63993WB1983PLC036030

Regd. Office :- Emami Tower, 687 Anandapur, E. M. Bypass, Kolkata 700 107, West Bengal

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE' 2021

$\overline{z}$ in Lace

у пі пасэ
S.N. PARTICULARS Quarter Ended Year Ended
30.06.2021 31.03.2021 30.06.2020 31.03.2021Audited
Unaudited Audited(Refer note 8) Unaudited
$\mathbf{1}$ Income:
(a) Revenue from Operations 60,809 64,846 43,459 2,58,228
(b) Other Income 3,208 4,640 4,219 10,405
Total Income 64,017 69,486 47,678 2,68,633
2 Expenses:
(a) Cost of Materials Consumed 17,819 18,179 9,600 67,982
(b) Purchases of Stock-in-trade 3,509 7,037 3,294 17,429
(c) (Increase)/ Decrease in Inventories of Finished Goods, Stockin trade and Work-in-Progress (416) (709) 2,182 (816)
(d) Employee Benefits Expense 7,313 6,530 6,630 26,675
(e) Advertisement and Sales Promotion 9,548 10,007 4,637 34,409
(f) Other Expenses 6,787 8,514 5,584 28,217
Total Expenses 44,560 49,558 31,927 1,73,896
3 Earnings before Interest, Depreciation & Amortisation and Tax$(1-2)$ 19,457 19,928 15,751 94,737
$\overline{4}$ Finance Costs 32 443 425 1,201
5 Profit After Finance costs but before Depreciation &Amortisation and Tax (3-4) 19,425 19,485 15,326 93,536
6 Depreciation & Amortisation Expense:
a. Amortisation of Intangible assets (Refer note 4) 5,957 5,889 5,538 26,767
b. Depreciation of Tangible assets (Refer note 4) 2,063 2,097 1,670 8,820
c. Depreciation of Right of Use Assets 130 133 132 527
$\overline{7}$ Profit before Tax (5-6) 11,275 11,366 7,986 57,422
8 Tax Expense:
Current Tax (MAT) 1,978 2,241 1,267 10,034
$\mathbf Q$ Deferred Tax charge/ (credit) (125)
10 Profit for the period/Year (PAT) (7-8)Other Comprehensive Income: 9,297 9,125 6,719 47,513
Items that will not be reclassified to Profit or Loss in subsequent 2,774 1,646 2,348 5,965
periodsIncome tax relating to items that will not be reclassified tostatement of profit and loss (9) (17) (4) (27)
11 Total Comprehensive Income for the period/Year (9+10) 12,062 10,754 9,063 53,451
12 Cash Profit (Profit for the period/Year + Depreciation &Amortisation) $(9 + 6)$ 17,447 17,244 14,059 83,627
1314 Paid - up Equity Share Capital (Face Value - Re 1/- per Share)Other Equity 4,445 4,445 4,456 4,4451,71,488
15 Earnings per Share (in Rs.)
(Face value of Re 1/- each) (not Annualised except for the yearended March 31, 2021)
(a) Basic 2.09 2.05 1.49 10.68
(b) Diluted 2.09 2.05 1.49 10.68
(c) Cash 3.93 3.88 3.12 18.81

Whami Limited Sgoenro Brass * $+681$ Kol-700107 Mandaour, E.M.

NOTES TO STANDALONE FINANCIAL RESULTS

  1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 2nd Aug, 2021.

The Limited Review of the results for the Quarter ended 30th June, 2021 as required under Regulations 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulation, 2015, has been completed by the Statutory Auditor of the Company.

    1. As at March 31, 2021, the Company had provisions aggregating Rs.6,220 lacs towards impairment of investments, receivables etc. in its wholly owned subsidiary "Emami International FZE, Dubai". Such provisions are adjusted based on the profit earned / loss incurred by the subsidiary on periodic basis. Accordingly, during the quarter ended June 30, 2021, there has been a reversal of said provision by Rs.12 lacs on the basis of performance of the subsidiary for the quarter and credited to 'other income'. However, this does not have any impact in the consolidated financial results of the Group.
    1. The financial results of the Company have been prepared in accordance with the Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.
    1. Considering the Dynamic market condition, the management had revised the useful life of Tangible assets related to Moulds from 10 years to 7 years during the previous year resulting in an increase in depreciation by Rs. 285 lacs for the quarter ended 30 June, 2021.

Also, useful life of Intangible assets related to acquired Brands and Trademarks was revised from 10 years to 7 years during the previous year resulting in an increase in amortisation by Rs. 3,330 lacs for the quarter ended 30 June, 2021.

    1. During the quarter, Company had made further investment aggregating Rs 5,000 lacs in its associate i.e. Helios Lifestyle Private Limited (Helios) by subscribing to its Equity Shares, which has resulted in increase in Company's stake in Helios from 33.09% to 45.96%.
    1. Recently, there has been a spike in the COVID-19 cases again in across the Country and as a result all the states are currently closely monitoring the situation. Some of the states have imposed restrictions on the free flow of public in their respective states in varied manner. The management is monitoring the situation closely and is operating its plants and depots with the required workforce as permitted by the Government. The management has made an initial assessment, based on the current situation, of the likely impact of the covid-19 on overall economic environment and on the Company, in particular, based on which it expects the demand to remain stable; and further, does not anticipate any challenge in the Company's ability to continue as a going concern or meeting its financial obligations. The Company has considered the possible effects that may arise out of the still unfolding COVID-19 pandemic on the carrying amounts of property, plant & equipment, intangible assets, investments, inventories, trade

SGoener

receivables, etc. and the Company does not expect any significant impact on such carrying values. However, the above evaluations are based on internal and external information available upto the date of approval of these financial results, which are very dynamic and subject to uncertainties that COVID-19 outbreak might pose on economic recovery.

    1. The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
    1. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year up to March 31, 2021 and the unaudited published year-to-date figures up to December 31, 2020, being the date of the end of the third quarter of the financial year which were subjected to limited review.
    1. As the Company's business activity falls within a single operating segment, viz, "Personal and Healthcare", no separate segment information is disclosed.
    1. These financial results available Company's website are on the at http://www.emamiltd.in.

For and on behalf of the board

Place: Kolkata Date: 2nd August, 2021

Sepenn

Sushil Kr. Goenka Managing Director