9 February 2022

Corporate Service Department	The Listing Department
BSE Limited	National Stock Exchange of India Ltd
25 th Floor, Phiroze Jeejeebhoy Towers,	Exchange Plaza, Plot no. C/1, G Block,
Dalal Street,	Bandra-Kurla Complex, Bandra (E)
Mumbai 400 001	Mumbai 400 051
Scrip: Equity 500135.	Trading Symbol: EPL
NCDs 960308, 960310 & 960311.
CP 721983

Ref.: EPL Limited (EPL)

Sub.: Unaudited financial results for the third quarter and nine months ended 31 December 2021 and outcome of the Board Meeting.

Dear Sirs,

This is to inform the exchanges that the Board of Directors of the Company at its meeting held on today i.e. 9 February 2022, inter alia, has approved the following:

a) Unaudited financial results for the third quarter and nine months ended 31 December 2021 of the Company's India standalone operations and consolidated global operations.

Please find attached herewith the above mentioned unaudited financial results and limited review reports issued by M/s. Walker Chandiok & Co LLP, the Statutory Auditors of the Company, on the above mentioned financial results.

The above referred meeting was commenced at 1.00 PM and concluded at 3.45 p.m.

The above is pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, for your information and record.

Kindly take the above on record.

Thanking You

Yours faithfully For ERL Limited

$1M$ MUMBA SVP - Legal & Company Secretary

Encl.: As above

Suresh Savaliva

Filed online

Registered Office P.O. Vasind, Taluka Shahapur, Dist. Thane 421604, Maharashtra IBE FOR 9673335971/9832 CIN: L74950MH1982PLC028947 [email protected]

(Formerly known as Essel Propack Limited) Corporate Office : Top Floor, Times Tower, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai 400 013. India www.eplglobal.com | T: +91 22 2481 9000/9200 | F: +91 22 2496 3137

EPL LIMITED

Walker Chandiok & Co LLP 11th Floor, Tower II, One International Center, S B Marg, Prabhadevi (W), Mumbai - 400013 Maharashtra, India T +91 22 6626 2699

F +91 22 6626 2601

Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of EPL Limited (formerly, Essel Propack Limited)

1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of EPL Limited (formerly, Essel Propack Limited) ('the Company') for the quarter ended 31 December 2021 and the year to date results for the period 1 April 2021 to 31 December 2021, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including SEBI Circular SEBI/HO/DDHS/P/CIR/2021 /613 dated 10 August 2021 and other relevant circulars issued by the SEBI from time to time.
1. The 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, Interim Financial Reporting ('Ind AS 34'), prescribed under Section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 and Regulation 52 read with Regulation 63, including SEBI Circular SEBI/HO/DDHS/P/CIR/2021 /613 dated 10 August 2021 and other relevant circulars issued by the SEBI from time to time. 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. 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 the Standards on Auditing specified under section 143(10) of the Act, 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.

Page 1 of 2

Chartered Accountants

Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkala, Mumbai, New Delhi, Naida and Pune

Walker Chandiok & Co LLP is registered with limited liability with identification number MC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India

Walker Chandiok & Co LLP 11 th Floor, Tower II , One International Center, S B Marg, Prabhadevi (W), Mumbai - 400013 Maharashtra, India T +91 22 6626 2699 F +91 22 6626 2601

Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date 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 EPL Limited {formerly, Essel Propack Limited)

1. We have reviewed the accompanying statement of unaudited consolidated financial results ('the Statement') of EPL Limited {formerly, Essel Propack Limited) ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group'), and its associate (refer Annexure 1 for the list of subsidiaries and associate included in the Statement) for the quarter ended 31 December 2021 and the consolidated year to date results for the period 01 April 2021 to 31 December 2021 , 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), including relevant circulars issued by the SEBI from time to time.
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, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. 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. 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 the Standards on Auditing specified under section 143(10) of the Act, 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 SEBI Circular CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), to the extent applicable.

Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review reports of other auditors referred to in paragraph 5 below, nothirig 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 Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements 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.

Chartered Accountants

Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mum ,

Walker Chandiak & Co LLP is registered with limited liability with identification numbe r MC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 11 0001, India

Page 1 of 3

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

We did not review the interim financial information/ interim financial results of six (6) subsidiaries included in the Statement, whose interim financial information/interim financial results (before eliminating inter~company transactions) reflects total revenues of z 5,147 million and z 14,797 million, total net profit after tax of z 1,104 million and z 2,361 million, total comprehensive income of z 1,104 million and z 2,361 million for the quarter and nine months period ended on 31 December 2021, respectively, as considered in the Statement. These interim financial information/ interim financial results have been reviewed by other auditors whose review reports have been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the review report of such other auditors and the procedures performed by us as stated in paragraph 3 above.

Further, of these subsidiaries, five (5) subsidiaries are located outside India, whose interim financial information/ interim financial results have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors based on standard on review engagement applicable in their respective countries. The Holding Company's management has converted the interim financial information/ interim financial results of such subsidiaries from the accounting principles generally accepted in their respective countries to the 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 these subsidiaries is based on the review report of other auditors and the conversion adjustments prepared by the management of the Holding Company and reviewed by us.

Our conclusion is not modified in respect of these matters with respect to our reliance on the work done by and the reports of the other auditors.

The Statement includes the interim financial information of two (2) subsidiaries, which have not been reviewed by their auditors, whose interim finan cial information (before eliminating inter-company transactions) reflects total revenues of z 3 million and z 17 million, net loss after tax of z 1 million and z 3 million, total comprehensive loss of z 1 million and z 3 million for the quarter and nine months period ended 31 December 2021 respectively, as considered in the Statement. The Statement also includes the Group's share of net loss after tax of z 6 million and z 76 million and total comprehensive loss of z 6 million and z 76 million for the quarter and nine months period ended on 31 December 2021 respectively, in respect of one (1) associate, based on its interim financial information, which has not been reviewed by its auditor, and has been furnished to us by the Holding Company's management. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associate, are based solely on such unreviewed interim financial information. According to the information and explanations given to us by the management, these interim financial information are not material to the Group.

Our conclusion is not modified in respect of this matter with respect to our reliance on the interim financial information certified by the Holding Company's management.

For Walker Co LLP Chartered A Firm egistr 6N/N500013

Rakes al Part Mem No: 109632

UDIN:22109632AAXWKF8370

Place: Mumbai Date: 09 February 2022

Page 2 of 3

Chartered .A.ccountants

Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Naida and Pune

Walker Chandiok & Co LLP is registered with limited liability with identifica tion number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India

EPL Limited (formerly, Essel Propack Limited)

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

Annexure 1

List of entities included in the Statement

Subsidiaries:

1. Lamitube Technologies Limited
1. Lamitube Technologies (Cyprus) Limited
1. Arista Tubes Inc.
1. EPL America, LLC (formerly known as Essel Propack America, LLC)
1. Laminate Packaging Columbia SAS (formerly known as Essel Colombia SAS.)
1. EPL Propack de Mexico, SA de C.V. (formerly known as Essel de Mexico, SA de C.V.)
1. EPL Deutschland Management GmbH (formerly known as Essel Deutschland Management GmbH)
1. EPL Deutschland GmbH & Co. KG (formerly known as Essel Deutschland GmbH & Co. KG)
1. EPL Misr for Advanced Packaging SAE. (formerly known as Essel Propack MISR for Advanced Packaging SAE.)
1. EPL Packaging (Guangzhou) Limited (formerly known as Essel Packaging (Guangzhou) Limited)
1. EPL Packaging (Jiangsu) Limited (formerly known as Essel Packaging (Jiangsu) Limited)
1. EPL Propack Philippines, Inc (formerly known as Essel Propack Philippines, Inc.)
1. EPL Propack LLC (formerly known as Essel Propack LLC)
1. EPL Poland sp. Z.o.o (formerly known as Essel Propack Polska sp. z.o.o.)
1. EPL Propack UK Limited (formerly known as Essel Propack UK Limited)
1. MTL De Panama, SA
1. Tubopack de Colombia SAS.
1. Creative Stylo Packs Private Limited (effective 1 February 2021)

Associate:

PT. Lamipak Primula

Chartered Accountants

Offices in Benga!uru, Chandiga,h, Chennai, Gurugram, Hyderabad, Kochi, Kolkala, Mumbai, New Delhi, Noida and Pune

Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle. New Delhi. 11 0001. India

	EPL LIMITED (Formerly known as ESSEL PROPACK LIMITED)
		CIN: L74950MH1982PLC028947
	Regd. Office: P.O. Vasind, Taluka Shahapur, Dist. Thane, Maharashtra - 421604
	STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS
	FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2021
						(Rs in Millions except per share data)
Particulars			Quarter ended			Nine months ended	Year ended
		31-Dec2021	30-Sep2021	31-Dec2020	31-Dec2021	31-Dec2020	31-Mar2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
$\mathbf{1}$	Income
а.	Revenue from operations	8,834	8,701	7,686	25,526	22,814	30,916
b.	Other income	31	14	32	98	115	145
	Total income	8,865	8,715	7,718	25,624	22,929	31,061
2	Expenses
a.	Cost of materials consumed	4,019	3,840	3,142	11,429	9,520	12,886
	b. Changes in inventories of finished goods and goods-in-	(48)	(57)	(75)	(304)	(82)	48
	process
	c. Employee benefits expense	1,696	1,629	1,550	4,882	4,488	6,064
d.	Finance costs	103	97	84	289	343	429
e.	Depreciation and amortisation expense	642	622	588	1,883	1,745	2,346
f.	Other expenses	1,780	1,695	1,484	5,089	4,175	5,807
	Total expenses	8,192	7,826	6,773	23,268	20,189	27,580
з	Profit before share of profit / (loss) of an associate,	673	889	945	2,356	2,740	3,481
	exceptional items and tax (1-2)
45	Share of loss from associateProfit before exceptional items and tax $(3+4)$	(6)667	(67)822	(4)941	(76)2,280	(7)2,733	(9)3,472
6	Exceptional items (gain)/loss (net) (Refer note 3)					161	161
7	Profit before tax for the period (5-6)	667	822	941	2,280	2,572	3,311
8	Tax expense
$\mathbf{i}$	Current tax- current period	98	305	181	620	743	963
ii)	-earlier periodDeferred tax charge / (credit)	8	$\overline{2}$(10)	39	(11)(41)	(25)(5)	(27)(68)
	Total tax expense	(24)82	297	220	568	713	868
9	Net Profit after tax for the period (7-8)	585	525	721	1,712	1,859	2,443
10	Other comprehensive income / (loss)
а.	Items that will not be reclassified to profit or loss
	- Remeasurement gains/(losses) on defined benefit plan	(4)	4	(7)	(3)	(19)	(15)
	- Income tax effects relating to above	$\mathbf 1$	(1)	$\overline{2}$	$\mathbf{1}$	5	$\overline{4}$
b.	Items that will be reclassified to profit or loss- Fair value changes of non-derivative instruments	$\blacksquare$	$\overline{\phantom{a}}$	(3)	$\overline{\phantom{a}}$	(1)	13
	designated as cash flow hedge
	- Exchange differences on translation of financial results	25	(201)	350	196	636	404
	of foreign operations
	- Income tax effects relating to above	÷.		$\sim$	$\overline{\phantom{a}}$
	Total Other comprehensive income/(loss) (net of tax)	22	(198)	342	194	621	406
11	Total comprehensive income for the period (9+10)	607	327	1,063	1,906	2,480	2,849
	Net Profit for the period attributable to:
12	Owners of the Holding Company	571	507	709	1,657	1,823	2,391
	Non-controlling interest	14	18	12	55	36	52
13	Other comprehensive income/(loss) attributable to:						$\mathbf{r}$

	Owners of the Holding Company	22	(197)	343	193	623	407
	Non-controlling interest	$\Omega$	(1)	(1)	1	(2)	(1)
14	Total comprehensive income attributable to:
	Owners of the Holding Company	593	310	1,052	1,850	2,446	2,798
	Non-controlling interest	14	17	11	56	34	51
15	Paid-up equity share capital (Face Value Rs. 2 each)	632	632	631	632	631	631
16	Other equity						16,350
17	Earnings Per Share (EPS) (in Rs.) ^
	BasicDiluted	1.81	1.61	2.25	5.25	5.78	7.58
	(^ Quarterly and nine months ended figures are not	1.80	1.60	2.24	5.23	5.77	7.57
	annualised)
	See accompanying notes to consolidated unaudited financial results.

$\epsilon_{\rm in}$

$\bar{\mathbf{x}}$

$\ddot{\phantom{a}}$

$\bar{z}$

$\tilde{\mathcal{L}}$

	EPL LIMITED (Formerly known as ESSEL PROPACK LIMITED)
		CIN: L74950MH1982PLC028947
	Regd. Office : P.O. Vasind, Taluka Shahapur, Dist. Thane, Maharashtra - 421604
	STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS
	FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2021

							(Rs in Millions)
			Quarter ended			Nine months ended	Year ended

	Note 1: Consolidated Segment Information	31-Dec	30-Sep	31-Dec	31-Dec	31-Dec	31-Mar
		2021	2021	2020	2021	2020	2021

		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited

	Segment revenue from operations
a	AMESA	3,225	3,075	2,376	9,119	7,168	9,934
b	EAP	2,459	2,136	2,043	6,655	5,971	7,820
C	AMERICAS	1,899	1,860	1,736	5,398	4,772	6,521
d	EUROPE	1,732	1,882	1,768	5,398	5,684	7,686
e	Unallocated	2	3	3	8	$\mathbf{Q}$	12
f	Inter Segmental elimination	(483)	(255)	(240)	(1,052)	(790)	(1,057)
	Total revenue from operations for the period	8,834	8,701	7,686	25,526	22,814	30,916
	Segment Result
a	AMESA	353	352	315	1,016	859	1,083
b	EAP	419	353	385	1,117	1,218	1,434
C	AMERICAS	53	168	201	340	510	712
d	EUROPE	(22)	75	99	152	436	625
e	Unallocated	(8)	(7)	(8)	(22)	(15)	(24)
f	Inter Segmental elimination	(50)	31	23	(56)	(14)	(21)
	Total segment result for the period	745	972	1,015	2,547	2,994	3,809
	Finance costs	(103)	(97)	(84)	(289)	(343)	(429)
	Other income (excluding gain/loss on foreign exchange	32	27	32	97	115	145
	fluctuations)
	Gain/(loss) on foreign exchange fluctuations (net)	(1)	(13)	(18)	1	(26)	(44)
	Exceptional items (gain)/loss (net) (Refer note 3)					161	161
	Share of loss from associate	(6)	(67)	(4)	(76)	(7)	(9)
	Profit before tax for the period	667	822	941	2,280	2,572	3,311

	Segment Assets
a	AMESA	10,913	10,337	8,776	10,913	8,776	9,521
b	EAP	7,998	7,807	7,584	7,998	7,584	7,565
C	AMERICAS	6,291	6,021	5,330	6,291	5,330	5,513
d	EUROPE	6,115	6,258	6,369	6,115	6,369	6,087
e	Unallocated	2,372	1,849	721	2,372	721	2,005
f	Inter Segmental elimination	(832)	(552)	(577)	(832)	(577)	(577)
	Total	32,857	31,720	28,203	32,857	28,203	30,114
	Segment Liabilities
a	AMESA	2,796	2,547	2,017	2,796	2,017	2,495
b	EAP	2,487	2,221	1,905	2,487	1,905	2,099
	AMERICAS	1,212	1,045	996	1,212	996	1,004
cd	EUROPE	1,295	1,258	1,343	1,295	1,343	1,327
	Unallocated	7,720	7,035	5,746	7,720	5,746	6,314
ef		(637)	(406)	(448)	(637)	(448)	(439)
	Inter Segmental eliminationTotal	14.873	13.700	11.559	14.873	11.559	12.800

The Group is engaged in the business of Plastic Packaging Material. The Chief Operating Decision Maker (CODM) evaluates the Group'sperformance and allocates resources based on analysis of various performance indicators by

Geographical Segments are:

AMESA : Africa, Middle East and South Asia include operations in India and Egypt. $\mathsf{a}$

$\mathbb{R}^2$

$\mathbf{v}_{\rm{eq}}$

EAP : East Asia Pacific includes operations in China and Philippines. $\mathsf b$

$\mathsf{c}$ AMERICAS : includes operations in United States of America, Mexico and Colombia.

EUROPE : includes operations in United Kingdom, Poland, Russia and Germany. $\operatorname{\mathsf{d}}$

EPL LIMITED (Formerly known as ESSEL PROPACK LIMITED)CIN: L74950MH1982PLC028947Re d. Office : P.O. Vasind, Taluka Shaha ur, Dist. Thane, Maharashtra - 421604STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTSFOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2021NOTES:2out a limited review of the above consolidated unaudited financial results.3impairment of assets and other associated costs on account of scaling down the business of one of the overseas subsidiaries.4 (a) The Holding Company acquired 72.46% equity shares in Creative Style Packs Private Limited (CSPL) and accordingly CSPL became theregulatory authorities, as applicable.4 (b) The financial results of CSPL have been included in the above results from 1 February 2021 and onwards.5recoverability of the carrying value of financial and non-financial assets.·6shares of face value Rs. 2 each at a premium of Rs. 159 per share, during the quarter ended 31 December 2021.Amounts shown as '0' in the above results represent value less than Rupee one million.7Amounts for the previous period have been regrouped/ reclassified wherever necessary to conform to current period's presentation.8Place : MumbaiMan ging Director and ChieDate : 09 February 2022





	EPL Limited (the 'Holding Company') and its subsidiaries are together referred to as 'the Group' in the following notes. The above consolidatedunaudited financial results (the 'results') has been prepared in accordance with the recognition and measurement principles laid down inIndian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013, and otheraccounting principles generally accepted in India and is in compliance· with the presentation and disclosure requirements of Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). These results have been reviewed by the AuditCommittee and approved by the Board of Directors at their respective meetings held on 09 February 2022. The statutory auditors have carried
	Exceptional items of Rs. 161 million for the nine months ended 31 December 2020 and for the year ended 31 March 2021, represent
	subsidiary of the Group w.e.f. 1 February 2021. The Board of Directors of the Holding Company and CSPL had approved the Scheme ofamalgamation or merger of CSPL 'with the Holding Company under Section 230 to 232 of the Companies Act, 2013 and other applicablestatutory provisions ('the Merger'). The Holding Company has received no objection to the Scheme from National Stock Exchange of IndiaLimited and BSE Limited pursuant to the provisions of Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation$,2015. Shareholders of the Holding Company have approved the Scheme ,with requisite majority in their meeting held on 05 January 2022, asper Directions of the National Company Law Tribunal, Mumbai Bench ('NCLT'). The Holding Company has filed Petition with NCLT in relation tothe Merger, pursuant to applicable provisions of the Companies Act, 2013. ·The Scheme is subject to requisite approvals of NCLT and

	The Group has considered the possible effects that may result from the COVID-19 pandemic, in the preparation of these results, including
	Pursuant to exercise of employee stock options under Employee Stock Options Scheme 2020, .the Holding Company has allotted 14,996 equity





	24

EPL Limited (formerly, Essel Propack Limited)

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 Ind AS 34, prescribed under Section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of the Regulation 33 and Regulation 52 read with Regulation 63, including the manner in which it is to be disclosed, or that it contains any material misstatement

UDIN:22109632AAXWJJ4883

Place: Mumbai Date: 09 February 2022

Page 2 of 2

Chartered Accountants

Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Naida and Pune

Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001 , India

		EPL LIMITED (Formerly known as ESSEL PROPACK LIMITED)
		CIN: L74950MH1982PLC02il947
	Regd. ·office: P.O. Vasind, Taluka Shahapur, Dist. Thane; Maharashtra -421604
		STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
		FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2021
						(Rs in Million, except per share datal
Particulars			Quarter ended		Nine months ended		Year ended
			30-Sep	31-Dec	31-Dec	31-Dec	31-Mar
		31-Dec2021	2021	2020	2021	2020	2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Income
	a. Revenue from operations	2,644	2,470	2,044	7,314	6,174	8,409
	b. Other income (Refer note 6)	51	665	20	997	868	1,143
	Total income	2 695	3135	2 064	8 311	7 042	9 552

2	Expenses
	a. Cost-of materials consumed	1,277	1,202	819	3,528	2,564	3,570
	b. Changes in inventories of finished goods and goods-in-process	(12)	(40)	5	(80)	(15)
	·C. Employee benefits expense	324	325	323	935	934	1,261
	d. Finance costs	39	33	29	106	114	148
	e. Depreciation and amortisation expense	195	200	225	599	690	896
I.	Other expenses	612	547	439	1,667	1,378	1,938
	Total expens!;l:s						7,810
		2,435	2,267	1,840	6,755	5,.665
34	Profit before tax for the oeriod (1-2<br>Tax expense	260	868	224	1 556	1 377	1 742
i)	Current tax - current period	53	91	38	207	257	285
	- earlier period				(13)
	ii) Deferred tax charae I <credit)< td="">(2)(14'(9)130</td>160</td>173</td></credit)<>	(2)	(14'	(9)	130\	160\	173\
	Total tax expense	51	77	29	164	197	212
5	Net Profit after tax for the oeriod (3-4\	209	791	195	1 392	1180	1 530
	_ _ 6____0Jhe_r_cQ!Dprehensive.ID~.2!llilLQQ.s__sl			--------
·---	i) Items thq.t w.ilt ngt t;>er~~1cl~$ifj_ed to_pro{it OL lpss	OJ	4 ____	(5)	(?)	(1_5)	.(13) ,
	ii) Income tax effect on above	1	(1'	1	1	4
	Other comorehensive income /llossl for the oeriod (net of taxl	12\	3	(4\	11\	/11\	/10\
7	Total comorehensive inco-me for the oeriod 15+6\	207	794	191	1 391	1169	1 520
8	Paid-up equity share _capital (Face Value Rs.2 each)	632	632	631	632	631	631
9	Other equity						6,714
10	Earnings per share (EPS) (in Rs.) •
	Basic	0.66	2.51	0.62	4.41	3.74	4.85
	Diluted	0,66	2.50	0.62	4.40	3.73	4.84
	("Ouarterlv and nine months ended fiaures are not annualised)See accomoanvina notes to standalone unaudited financial results.

M1 )' Q'v /; li.J . . • ! I ~ -- *

	STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
	FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2021
	Note 1: Additional disclosure as per Clause 52(4) and Clause 54{2) of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015 (asamended).
			Quarter ended		Nine months ended		Year ended
	Particulars	31-Dec	30-Seo	31-Dec	31-Dec	31-Dec	31-Mar
	. a) Debenture redemption reserve (Rs in million)b) Net Worth (Rs in million)(Total equity less capital reserve)	20217157	20217580	20201256538	20217157	20201256538	20216947
	c) Net profit after tax (Rs in million)	209	791	195	1392	1180	1530
	d) BaSic earning per share (Not annualised)	0.66	2.51	0.62	4.41	3.74	4.85
	e) Diluted earning per share (Not annualised)	0.66	2.50	0.62	4.40	3.73	4.84
	n Debt-Equity ratio (in times)(Total Borrowings/Total equity)	0.33	0.21	0.20	0.33	0.20	0.20
	g) Long term Debt to Working Capital (in times)[(Non current borrowings + current maturities of long termborro.wings)/(Current assets less current liabilities excluding currentmaturities of long term borrowings)}	0.92	0.57	0.30	0.92	0.30	0.68
	h) Total Debts to Total Assets ratio (in%)(Total Borrowings/Total Assets)	20%	14%	14%	20%	14%	14%
	i)Debt service coverage ratio (in times)[Cash profit before finance costs (excluding IND AS 116 impact)/((Financecost (excluding IND AS 116 impact)+ Principal repayment (excludingprepayment) during the year}]	6.37	38.63	0.75	16.21	2.31	2.90
	Interest-service coverage ratio (in times)j)(Earning before finance costs and tax/ Finance costs)	7.67	26.90	8.72	15.68	13.08	12.76
	•)-CurreoLratio.{io.limes,.-_	1 3lL	1 75_	013._	1_3JL	" -l 3	1A_6_
··-	(.Curre.nt.asse.ts/curreot liabilities)Bad debts to accounts receivable ratio (in%)I)(Bad debts/Average trade receivable)	0.10%	0.04%	0.45%	0.23%	0.94%	0.86%
	m) Current liability ratio (in%)	67%	63%	61%	67%	61%	66%
	(Current liabilities/Total liabilities)n) Debtors turnover (In times)(Revenue from operations of trailing twelve months /Average tradereceivable)	4.89	5.02	5.16	4.93	5.66	5.35
	o) Inventory turnover (in times)(Revenue from operations of trailing twelve months/Average inventory)	8.84	9.58	9.49	9.06	9.81	9.79
	p) Operating margin (In%)(Profit before depreciation, Interest and tax less other income/Revenue fromoperations)	17%	18%	22%	17%	21%	20%
	q) Net profit margin (in %)(Profit after tax/ Revenue from operations}	8%	32%	10%	19%	19%	18%

As at 31 December 2021, the Company has following issued and outstanding listed commercial papers:

ISININE255A14643	Face Value/Rs in Millionsl
I	300
INE255A14635	300

		EPL LIMITED (Fonnerly known as ESSEL PRDPACK LIMITED)
		CIN: L74950MH1982PLC028947
	Regd. Office: P.O. Vasind, Taluka Shahapur, Oist. Thane, Maharashtra -421604
		STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
		FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2021
NOTES:
2	The above standalone unaudited financial results {the 'results') are prepared in accordance with the lndian·Accounting Standard 34, Interim Financial "Reporting (Ind AS 34) prescribedunder section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India and are in compliance with the presentation and disclosure requirements ofRegulation 33, Regulation 52 read with Regulation 63 of the SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) and as prescribed in SEBIOperational Circular - SEBI/HO/ODHS/P/CIR/2021/613 dated 10 August 2021 to the extent applicable to Commercial Papers. These results have been reviewed by the Audit Committeeand approved by the Board of Directors at their respective meetings held an 09 February 2022. The statutory auditors have carried out a limited review of the above results for the quarterand nine months ended 31 December 2021.
	The Comp~ny publishes standalone financial results along with the consolidated finandal results. Accordingly, as per Ind AS 108 'Operating Segments', no disclosures related to thesegments are presented in these standalone unaudited financial results.
4	The Company has acquired 72.46% equity shares in Creative Style Packs Private Limited (CSPL) and accordingly CSPL has become the subsidiary of the Company effective 01 February2021. The Board of Directors Of the Company and CSPL had approved the Scheme of amalgamation or merger of CSPL with the Company under Section 230 to 232 of the Companies Act,2013 and other applicable statutory provisions ('the Merger'). The Company has received no objection to the Scheme from National Stock Exchange of India Limited and BSE Limitedpursuant to the provisions of Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. Shareholders of the Company have approved the Scemwith requisite majority in their meeting held on 05 January 2022, as per Directions of the National Company Law Tribunal, Mumbai Bench ('NCLr). The Company has filed Petition withNCLT in relation to the Merger, pursuant to applicable provisions of the Companies Act, 2013. The Scheme is subject to requisite approvals of NCLT and regulatory authorities, asapplicable.
5	The Company has considered U,e possible effects that may result from the COVID-19 pandemic, in the preparation of these results, including recoverabJlity of the carrying value of financialand non-financial assets.
	Other income includes:
			Quarter ended			Nine months ended
	Particulars	31-Dec	30-Sep	31-Dec	31-Dec	31-Dec	31-Mar
		2021	2021	2020	2021	2020	2021
	Dividend income received from wholly owned subsidiaries		653		914	713	932
						z_	Q._
7	Pursuant to exercise of employee stock options under Employee Stock Options Scheme 2020, the Company has allotted 14,996 equity shares of face value Rs. 2 each at a premium of Rs.159 per share, during the quarter ended 31 December 2021.
	Amounts for the previous period have been regrouped/ reclassified wherever necessary to conform to current period's presentation.

Place:Date :	Mumbai09 February 2022

EPL LIMITED (Formerly known as ESSEL PROPACK LIMITED) Corporate Office: Top Floor, Times Tower, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai 400013.

Regd. Office: P.O. Vasind, Taluka Shahapur, Thane 421604, Maharashtra Tel: +91 9673333971 CIN: L74950MH1982PLC028947

GLOBAL OPERATIONS

EXTRACT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2021

		(Rs. in Millions, except per share data)
		Quarter	Quarter	Nine months	Year ended
	Particulars	ended31-Dec-2021	ended31-Dec-2020	ended31-Dec-2021	31-Mar-2021
		Unaudited	Unaudited	Unaudited	Audited
1	Total income	8,865	7,718	25,624	31,061
2	Profit before exceptional items and tax	667	941	2,280	3,472
3	Profit before tax for the period after exceptional items	667	941	2,280	3,311
4	Profit after tax for the period attributable to the ownersof the Company	571	709	1,657	2,391
5	Total comprehensive income attributable to owners ofthe Companv	593	1,052	1,850	2,798
6	Paid-up equity share capital (Face Value Rs 2/- each)	632	631	632	631
7	Other equity (excluding Revaluation reserves)			-	16,350
8	Earnings Per Share (EPS) (in Rs.) A
	Basic	1.81	2.25	5.25	7.58
	Diluted	1.80	2.24	5.23	7.57

(" Quarterly figures are not annualised)

INDIA STANDALONE EXTRACT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2021

	(Rs. in Millions, except oer share data)
		Quarter	Quarter	Nine months	Year ended
		ended	ended	ended
	Particulars	31-Dec-2021	31-Dec-2020	31-Dec-2021	31-Mar-2021
		Unaudited	Unaudited	Unaudited	Audited
1	Total income	2,695	2,064	8,311	9,552
2	Profit before exceptional items and tax	260	224	1,556	1,742
3	Profit/ (loss) for the period after exceptional items	260	224	1,556	1,742
4	Net Profit/ (loss) after tax for the period	,209	195	1,392	1,530
5	Total comprehensive income/ (loss} for the period	207	191	1,391	1,520
6	Paid-up equity share capital (Face Value Rs 2/- each}	632	631	632	631
7	Other eauitv (excludina Revaluation reserves}				6,714
8	Net Worth	7,157	6,538	7,157	6,947
9	Outstanding Redeemable Preference Shares	-	-	-	-
	10 Debt Eauitv Ratio	0.33	0.20	0.33	0.20
	11 Earninqs Per Share (EPS} (in Rs.} A
	Basic	0.66	0.62	4.41	4.85
	Diluted	0.66	0.62	4.40	4.84
	("' Quarterly figures are not annualised}
	12 Capital Redemption Reserve	-	-	-	-
	13 Debenture Redemption Reserve	-	125	-	-
	14 Debt Service Coverage Ratio (in times}	6.37	0.75	16.21	2.90
	15 Interest Service Coverage Ratio (in times}	7.67	8.72	15.68	12.76

NOTES:

1 The above unaudited financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 09 February 2022.

2 The above is an extract of the detailed format of the standalone and consolidated unaudited financial results for the quarter and nine months ended 31 December 2021 filed with stock exchange pursuant to Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements} Regulations, 2015.

3 The full format of the standalone and consolidated unaudited financial results for the quarter and nine months ended 31 December 2021 are available on the Stock Exchange websites (www.bseindia.com and www.nseindia.com) and on the Company's website (www.eplglobal.com).
4 For the other line items referred in regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements} Regulations, 2015, pertinent disclosures have been made to the Stock Exchanges and are available on the Stock Exchange websites (www.bseindia.com and www.nseindia.com) and on the Compar r•s website (www.eplglobal.com}.

For EPL Limited (Form,· !Y known as Essel Prooack s;;;;~ V '-f VAA. A{A. ____ , V""f'

. ,H- VPlace: Mumbai An palu

Date : 09 February 2022 #;;; Managing Director and Chief Executive fficer ------- , DIN: 0 18324

AI assistant

EPL LIMITED Interim / Quarterly Report 2022

60801_rns_2022-02-09_9238793d-063f-4ad6-9516-5a25550487a5.pdf

9 February 2022

Ref.: EPL Limited (EPL)