Ester Industries Ltd. — Interim / Quarterly Report 2021

Nov 12, 2021

BSE Limited	National Stock Exchange of India Limited
Department of Corporate services	Exchange Plaza,
Phirojee Jeejeebhoy Towers	Plot no. C/1, G Block,
Dalal Street, Mumbai – 400023	Bandra‐Kurla Complex,
Symbol : 500136	Bandra (E), Mumbai – 400051
	Symbol : ESTER

Dear Sir

Subject: 1) Outcome of the Board Meeting

2) Submission of financial results for quarter ended on 30th September, 2021 3) Intimation regarding declaration of Interim Dividend for financial year 2021‐22

We wish to intimate you that a meeting of the Board of Directors of the Company was held on Friday, 12th November, 2021. The meeting was commenced at 12:43 PM and concluded at 1:22 PM. During the meeting, the Board, amongst other items of Agenda, approved the following matters –

• 1. Approval of the Un‐audited Financial Results for the quarter and period ended on 30th September, 2021.
• 1. Declaration of Interim dividend of Rs. 1.40/‐ (Rupee One and Forty paisa only) per equity share for the year financial year 2021‐22.

Record date for the payment of said Interim Dividend is Tuesday, 23rd November, 2021. The Dividend will be paid on or before 11th December, 2021.

Pursuant to the requirement of Regulation 33 of SEBI (LODR) Regulation, 2015, we wish to submit the approved Un‐audited Financial Results for the quarter and period ended on 30th September, 2021 along with Limited Review Report.

Please take the above on your record.

Thanking You

Yours Faithfully For Ester Industries Limited

Diwaker Dinesh Head‐Legal & Company Secretary Encls: As above

Walker Chandiok & Co LLP 21st Floor, DLF Square Jacaranda Marg, DLF Phase II Gurugram 122 002 India

T +91 124 4628099 F +91 124 4628001

Independent 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 Ester Industries Limited

• 1. We have reviewed the accompanying statement of standalone unaudited financial results of Ester Industries Limited for the quarter ended 30 September 2021 and the year to date results for the period 1 April 2021 to 30 September 2021, being submitted by the 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. accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial 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. 3. 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.

Chartered Accountants

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

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

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 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. For Walker Chandiok & Co LLP UDIN:- 21507568AAAAGA4896

Chartered Accountants Firm Registration No: 001076N/N500013

Nitin Toshniwal Partner Membership No. 507568

Place: Faridabad Date: 12 November 2021

Walker Chandiok & Co LLP 21st Floor, DLF Square Jacaranda Marg, DLF Phase II Gurugram 122 002 India

T +91 124 4628099 F +91 124 4628001

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 Ester Industries Limited

• 1. We have reviewed the accompanying statement of unaudited consolidated financial results of Ester Industries Limited sidiary (the Holding Company and its subsidiary subsidiary included in the Statement) for the quarter ended 30 September 2021 and the consolidated year to date results for the period 1 April 2021 to 30 September 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. 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, 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. 3. 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.

Chartered Accountants

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

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

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.

1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in 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. For Walker Chandiok & Co LLP UDIN:- 21507568AAAAGB3255

Chartered Accountants Firm Registration No: 001076N/N500013

Nitin Toshniwal Partner Membership No. 507568

Place: Faridabad Date: 12 November 2021

Annexure 1

List of entity included in the Statement 1. Ester Filmtech Limited (Wholly-owned subsidiary)

ESTER INDUSTRIES LIMITED

Regd. Office : Sohan Nagar, P.O. Charubeta, Khatima - 262 308. Distt. Udhamsingh Nagar (Uttarakhand) CIN - L24111UR1985PLC015063, Website : www.esterindustries.com; Email : investor@ester.in Phone: (05943) 250153-57; Fax: (05943) 250158 Statement of Unaudited Results for the quarter and six months ended 30 September 2021

														$(\xi$ in lacs)
			Standalone results								Consolidated results
			Ouarter ended	Preceding quarter ended	Corresponding quarter ended	Six months ended	Corresponding Six Months ended	Previous Year ended	Quarter ended	Preceding quarter ended	Corresponding quarter ended	Six months ended	Corresponding Six Months ended	Previous Year ended
Sr. No		Particular	30 September 2021	30 June 2021	30 September 2020	30 September 2021	30 September 2020	31 March 2021	30 September 2021	30 June 2021	30 September 2020	30 September 2021	30 September 2020	31 March 2021
			(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
PARTI
		Income
	a) b)	Revenue from operations Other income	33,301.10 297.96	31,891.86 206.60	25,052.49 216.92	65,192.96 504.56	43,907.52 405.39	99,175.88 797.83	33,301.10 298.28	31,891.86 206.60	25,052.49 216.92	65,192.96 504.88	43,907.52 405.39	99,175.88 797.83
		Total income (a+b)	33,599.06	32,098.46	25,269.41	65,697.52	44,312.91	99,973.71	33,599.38	32,098.46	25,269,41	65,697.84	44,312.91	99,973.71
		Expenses
	a)	Cost of materials consumed	22,272.37	19,052.22	11,849.98	41,324.59	19,971.97	51,712.37	22,272.37	19,052.22	11,849.98	41,324.59	19,971.97	51,712.37
	b)	Changes in inventories of finished goods and work in progress	(1,474,36)	152.91	53.06	(1,321.45)	642.31	(661.47)	(1,474,36)	152.91	53.06	(1,321.45)	642.31	(661.47)
	c)	Employee benefits expenses	1,461.76	1,646.83	1,510.14	3,108.59	2,945.12	6,809.14	1,467.24	1.663.75	1.510.14	3,130.99	2,945.12	6,816.65
	$\mathbf{d}$	Finance cost	529.80	494.11	402.42	1,023.91	815.32	1,855.07	530.62	497.57	402.42	1,028.19	815.32	1,857.22
	e)	Depreciation and amortisation expense	950.89	921.41	881.68	1,872.30	1,764.27	3.522.32	954.12	921.83	881.68	1,875.95	1,764.27	3.523.35
	$\mathbf{f}$	Other expenses	5,465.98	4,801.92	4,507.80	10.267.90	8.173.29	17,738.43	5,521.97	4,850.01	4,679.45	10.371.98	8.344.94	18,186.15
		Total expenses $(a+b+c+d+e+f)$	29,206.44	27,069.40	19,205.08	56,275.84	34,312.28	80,975.86	29,271.96	27,138.29	19,376.73	56,410.25	34,483.93	81,434.27
		Profit before tax	4.392.62	5,029.06	6,064.33	9,421.68	10,000.63	18,997.85	4,327.42	4,960.17	5,892.68	9,287.59	9,828.98	18,539.44
		Tax expense		1,309.27	1,580.56	2,421.61	2.635.07	4,881.55	1,112.34	1,309.27	1.580.56	2,421.61	2.635.07	4,881.55
	$\qquad \qquad$	Current tax Deferred tax credit	1,112.34 (18.54)	(42.44)	(106.95)	(60.98)	(163.24)	(91.47)	(18.54)	(42.44)	(106.95)	(60.98)	(163.24)	(91.47)
5		Net profit for the period / year (3-4)	3,298.82	3,762.23	4,590.72	7,061.05	7,528.80	14,207.77	3,233.62	3,693.34	4,419.07	6,926.96	7,357.15	13,749.36
6		Other comprehensive income
	a)	Items that will not be reclassified to profit and loss
		i) Actuarial gain/ (loss) on remeasurement of defined benefit plan	16.92	5.96	6.13	22.88	(5.21)	(33.51)	16.92	5.96	6.13	22.88	(5.21)	(33.51)
		ii) Income tax effect	(4.23)	(1.50)	(1.55)	(5.73)	1.33	8.55	(4.23)	(1.50)	(1.55)	(5.73)	1.33	8.55
		Other comprehensive income/ (loss) for the period / year $(a(i+ii))$	12.69	4.46	4.58	17.15	(3.88)	(24.96)	12.69	4.46	4.58	17.15	(3.88)	(24.96)
		Total comprehensive income/ (loss) for the period / year (5+6)	3,311.51	3,766.69	$-4.595.30$	7,078.20	7.524.92	14,182.81	3,246.31	3,697.80	4,423.65	6,944.11	7,353.27	13,724.40
		Paid-up equity share capital (face value of share ₹ 5 each)	4,169.69	4,169.69	4,169.69	4,169.69	4,169.69	4,169.69	4,169.69	4,169.69	4,169.69	4,169.69	4,169.69	4,169.69
		Other equity						47,490.63						47,032.22
10		Earning per share (face value of $\xi$ 5 each)
		Basic EPS (not annualised) - in ₹	3.96	4.51	5.50	8.47	9.03 9.03	17.04	3.88 3.88	4.43	5.30 5.30	8.31 8.31	8.82 8.82	16.49
		Diluted EPS (not annualised) - in ₹	3.96	4.51	5.50	8.47		17.04		4.43				16.49

ESTER INDUSTRIES LIMITED

Regd. Office : Sohan Nagar, P.O. Charubeta, Khatima - 262 308. Distt. Udhamsingh Nagar (Uttarakhand) CIN - L24111UR1985PLC015063, Website : www.esterindustries.com; Email : investor@ester.in Phone: (05943) 250153-57; Fax: (05943) 250158 Statement of Unaudited Results for the quarter and six months ended 30 September 2021 Segment Wise Revenue, Results, Assets and Liabilities for the quarter and six months ended 30 September 2021

			Standalone results						Consolidated results
			Ouarter ended	Preceding quarter ended	Corresponding quarter ended	Six months ended	Corresponding Six Months ended	Previous Year ended	Ouarter ended	Preceding quarter ended	Corresponding quarter ended	Six months ended	Corresponding Six Months ended	Previous Year ended
	Sr. No	Particulars	30 September 2021	30 June 2021	30 September 2020	30 September 2021	30 September 2020	31 March 2021	30 September 2021	30 June 2021	30 September 2020	30 September 2021	30 September 2020	31 March 2021
			(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		Segment revenue
	a)	Polyester chips and film	21,305.33	22,451.68	19,005.75	43,757.00	35,137.79	72,742.40	21,305.33	22,451.68	19,005.75	43,757.00	35,137.79	72,742.40
	b)	Engineering plastic	7,423.19	5,899.74	4,873.52	13,322.94	6,547.88	20,499.53	7,423.19	5,899.74	4,873.52 1,173.22	13,322.94	6,547.88	20,499.53 5.933.95
	$\mathbf{c}$	Speciality polymers	4,572.58 33,301.10	3,540.44 31,891.86	1,173.22 25,052.49	8,113.02 65,192.96	2,221.85 43,907.52	5.933.95 99,175.88	4,572.58 33,301.10	3,540.44 31,891.86	25,052.49	8,113.02 65,192.96	2,221.85 43,907.52	99,175.88
$\vert$ 2		Revenue from operations Segment results
		Profit before tax and interest
	a)	Polyester chips and film	2,805.51	3,585.14	6,949.02	6,390.65	12,453.97	21,870.36	2,740.81	3.519.71	6,777.37	6,260.52	12,282.32	21,414.10
	$b$	Engineering plastic	1,756.86	2,197.34	779.15	3.954.20	713.00	4,064.90	1,756.86	2,197.34	779.15	3,954.20	713.00	4,064.90
	$\mathfrak{c}$	Speciality polymers	1,705.00	1,286.73	260.99	2,991.73	453.65	1,373.29	1,705.00	1,286.73	260.99	2,991.73	453.65	1,373.29
		Total	6,267.37	7,069.21	7,989.16	13,336.58	13,620.62	27,308.55	6,202.67	7,003.78	7,817.51	13,206.45	13,448.97	26,852.29
		Less:
	a)	Finance cost	529.80	494.11	402.42	1,023.91	815.32	1,855.07	530.62	497.57	402.42	1,028.19	815.32	1,857.22
	b)	Other un-allocable expenditure net off from un-allocable income	1,344.95	1,546.04	1,522.41	2,890.99	2,804.67	6,455.63	1,344.63	1,546.04	1,522.41	2,890.67	2,804.67	6,455.63
		Profit before tax	4,392.62	5.029.06	6,064.33	9,421.68	10,000.63	18,997.85	4,327.42	4,960.17	5,892.68	9,287.59	9,828.98	18,539.44
$\overline{\mathbf{3}}$		Segment assets Polyester chips and film	40,742.34		39,537.74	40,742.34	39,537.74	40,547.00	54,367.19	51,966.96	39,366.92	54,367.19	39.366.92	49,999.95
	a) b)	Engineering plastic	11,352.00	41,515.59 13,085.93	9.031.05	11,352.00	9.031.05	12,159.23	11,352.00	13,085.93	9.031.05	11.352.00	9.031.05	12,159.23
	$\mathbf{c}$	Speciality polymers	13,671.14	10,519.46	5,704.14	13,671.14	5,704.14	8,490.53	13,671.14	10,519.46	5,704.14	13,671.14	5,704.14	8,490.53
	$\mathbf{d}$	Unallocated	30,379.82	27,763.64	17,667.03	30,379.82	17,667.03	25,155.19	16,626.82	16,892.64	17,667.03	16,626.82	17,667.03	15,520.19
		Total	96,145.30	92,884.62	71,939.96	96,145.30	71,939.96	86,351.95	96,017.15	92,464.99	71,769.14	96,017.15	71,769.14	86,169.90
		Segment liabilities
	a)	Polyester chips and film	5,469.80	5,211.91	4,873.94	5,469.80	4,873.94	5,369.71	5,934.15	5.333.46	4,874.77	5.934.15	4,874.77	5,646.07
	b)	Engineering plastic	1,268.08	1.334.59	1.569.19	1,268.08	1,569.19	1,502.28	1,268.08	1,334.59	1,569.19	1,268.08	1.569.19	1,502.28
	$\mathbf{c}$	Speciality polymers	924.89	432.47	248.90	924.89	248.90	448.01	924.89	432.47	248.90	924.89	248.90	448.01
	d)	Unallocated	31,297.44	30,463.11	18,994.59	31,297.44	18,994.59	27,371.63	31,297.44	30,449.23	18,994.59	31,297.44	18,994.59	27,371.63
		Total	38,960.21	37,442.08	25,686.62	38,960.21	25,686.62	34,691.63	39,424.56	37,549.75	25,687.45	39,424.56	25,687.45	34,967.99

NOTES:

1 The above results for the quarter and six months ended 30 September 2021 have been reviewed by the Audit Committee and have been approved by the Board of Directors at the meeting held on 12 November 2021. The Statutory A and six months ended 30 September 2021.

2 Pursuant to notification dated 24 March 2021 issued by Ministry of Corporate Affairs, in respect of amendments to Schedule III of the Companies Act, 2013, the figures of the corresponding previous period year have been r

3 The Board of Directors has declared payment of Interim Dividend for financial year 2021-22 at the rate of Rs. 1.40/- (Rs. One and Paise Forty only) per share (of face value of Rs. 5/- each) subject to TDS/withholding tax for financial year 2021-22 shall be 23rd day, of November 2021.

4 The results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Tnd AS 34'), prescribed under Section 133 of the Compa 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 fr

For Ester Industries Limited Arvind Singhania Chairman & CEO

$(2.3)$ in Lamb

Place : Gurugram Date: 12 November 2021

ESTER IND STRIES LIMITED

Regd. Office: Sohan agar, P.O. Cha rubeta, Khatima - 262 308. Distt. dhamsingh agar (Uttarnkhand) CIN - L24I1 I R1985PLC015063, Website: www.esterindustries.com; Email : investor@ester.in Phone:. (05943) 250153-57; Fax: (05943) 250158

	Statement of Assets and Liabilities as at 30 September 202 1
			Standalone	(~in Ines) Consolidated
Sr. 0	Particulars	As at 30 September 2021 ( naudited)	As at 31 March 202 1 (Audited)	As at 202 1 ( nauditcd)	As at 30 September 31 March 2021 (Audited)
A	ASSETS
1	I Non-current assets
	Prope1ty, plant and equipment	38.349.1 0	37.37 .52	38.372.33	37,389.67
	Right to use asset Capital work-i -p ro>,~·ess	155.87	209.2 1	155 .87	209.2 1
	Intangible assets	575.92 58.98	2. 194.52 79.80	7.083 .70 58.98	7,639.65 79.80
	Financial assets
	In vestments	13,753.00	9,635 .00	-
	Other financ ial assets	937.64	988.13	964.64	988. 13
	Income tax assets (net)	319.96	31 9.96	3 19.99	3 19.96
	Other non-current assets Sub total non-current assets	1, 168.78 55,319.25	373.75 51,178.89	7,73 1. 18 54,686.69	4, 14 1.45 50,767.87
2	Current assets
	Inventories	16,359.46	13,664.26	16.359.46	13.664.26
	Financial assets
	Investments	128.31	133.13	128.31	133. 13
	Trade recei ables Cash and cash equi valents	16,303.10 162.29	15, 116.20 37.71	16.303 .10	15. 11 6.20
	Other bank balances	2,223. 17	2,575 .18	505.40 2,223 .1 7	18 1.45 2,575.18
	Loans	95.64	70.76	97.20	70.76
	Other fi nancial assets	677.42	68 1.66	68 1.57	683.56
	Other cunent assets	4,8 16.66	2,894.16	4,972.25	2 977.49
	Sub total current assets	40,766.05	35,173.06	41,270.46	35,402.03
3	Assets held for sale	60.00	-	60.00	-
	Total	96,145.30	86,351.95	96,017.15	86,169.90
B	EQUITY AND LIABILITIES
1	Eguitv
	Equity share capital Other equity	4.1 69.69	4, 169.69	4, 169.69	4.1 69.69
	Sub total equity	53,0 15.40 57,185.09	47,490.63 51,660.32	52,422 .90 56,592.59	47,032.22 51,201.91
	Liabilities
2	Non - current liabilities
	Financial liabilities
	Borro"~ngs	12,802.54	9,890.33	13, 113.82	9,890.33
	Lease liability Other fi nancial liabilities	5.92	48.19 -	5.92 105.45	48. 19
	Provisions	974.08	1,066.12	984.89	1,066. 12
	Deferred tax liabilities (net)	3.099.43	3,154.68	3,099.43	3,154.68
	Other non-current liabilities	2, 15 1.70	2,280.43	2, 151.70	2,280.43
	Sub total non-current liabilities	19,033.67	16,439.75	19,461.21	16,439.75
3	Current liabilities Financial liabilities
	Borrowings	9,5 19.38	10,733.58	9,5 19.38	10,733.58
	Lease liability	97.63	107.5 1	97.63	107.5 1
	Trade payables
	a) tota l outstanding dues of micro enterprises and small enterprises	465.40	274.47	465.40	274.47
	b) total outstanding dues of creditors other than micro enterprises and small enterp1ises Other financ ial liabilities	4,300.30 3, 139.27	3,478.05 2,333.75	4,3 17.83 3. 139.77	3,492.20 2,590.92
	Other CUITent liabilities	958.49	796.8 1	968.74	80 1.85
	Provisions	282.9 1	205.25	29 1.44	205.25
	Current tax liabilities (net)	1,163.16	322.46	1,163.16	322.46
	Sub total current liabilities	19,926.54	18,251.88	19,963.35	18,528.24
	Total	96,145.30	86,351.95	96,017.15	86,169.90

For Estel"lndustries Limited

~~ C hair'iiiiiii& CEO

Pl Da ace te: : 12 Gurugram November 202 1

ESTER INDUSTRIES LIMITED

Regd. Office : Sohan Nagar, P.O. Charubeta, Khatima - 262 308. Distt. Udhamsingh Nagar (Uttarakhand)
CIN - L24111UR1985PLC015063, Website : www.esterindustries.com; Email : investor@ester.in
Phone: (05943) 250153-57; Fax:

Unaudited statement of cash flow for the six months ended 30 September 2021

			$(3 \in \mathbb{R})$ Consolidated
	Standalone
Particulars	For the six months ended	For the six months ended	For the six months ended	For the six months ended
	30 September 2021	30 September 2020	30 September 2021	30 September 2020
A Cash flow from operating activities
Profit before tax	9,421.68	10,000.63	9,287.59	9,828.98
Adjustments for:
Depreciation and amortisation expense	1,872.30	1.764.27	1,875.95	1,764.27
Loss on sale of property, plant and equipments (net)	21.94	0.21	21.94	0.21
Finance costs	840.65	815.32	844.93	815.32
Interest income on financials assets measured at amortised cost	(45.02)	(68.33)	(45.34)	(68.33)
Unrealised foreign exchange (gain) / loss (net)	(10.90)	0.36	(10.90)	0.36
Share based payments to employees	31.05		31.05
Bad debts, advances and irrecoverable balances written off	63.59		63.59
Mark to market (gain) / loss on derivative contracts	(7.05)		(7.05)
Provisions/liabilities no longer required written back		(104.79)		(104.79)
Income recognised on account of government assistance	(127.19)	(126.80)	(127.19)	(126.80)
(Reversal)/ Provision for doubtful debts / advances	2.48	(3.48)	2.48	(3.48)
Loss / (gain) on fair valuation of financial assets	(26.26)		(26.26)
Reversal of provision for obsolete inventories	(13.80)		(13.80)
Operating profit before working capital changes and other adjustments:	12,023.47	12,277.39	11,896.99	12,105.74
Working capital changes and other adjustments:
(Decrease) / increase in current and non-current loans	(24.88)	20.55	(55.69)	20.55
(Increase) / decrease in other non-current and current assets	(2,065.70)	436.55	(2.317.63)	436.55
Decrease / (increase) in inventories	(2,681.41)	497.43	(2,681.41)	497.43
(Decrease) / increase in other financial and non-financial liabilities	(488.52)	(235.75)	(634.53)	(235.00)
Increase in provisions	8.50	30.24	27.84	30.24
Decrease in other non-current and current financial assets	61.94	1,338.39	61.94	1,314.88
(Increase) / decrease in trade receivables	(1, 211.77)	2.98	(1, 211.77)	2.98
Increase in trade payables	997.11	322.13	1,000.49	322.20
Cash flow from operating activities post working capital changes	6,618.74	14,689.91	6,086.23	14,495.57
Income tax paid (net of refunds)	(1,580.90)	(1,988.63)	(1,580.93)	(1,988.63)
Net cash flow from operating activities (A)	5,037.84	12,701.28	4,505.30	12,506.94
B Cash flows from investing activities
Purchase of property plant and equipments (including capital work-	(2,014.16)	(2, 262.59)	(5,707.57)	(4, 819.11)
in-progress and intangible assets)
Sale of property plant and equipments		0.02		0.02
Investment in bank deposits	(5,929.04)	(8, 191.31)	(5.929.04)	(8, 191.31)
Proceeds of deposits matured	7,846.52	6,979.55	7,846.52	6,979.55
Interest received	56.75	68.00	57.07	68.00
Investment in Subsidary	(4, 118.00)	(2,895.00)
(Purchase) / sale of investment (net)	31.08	(44.12)	31.08	(44.12)
Net cash used in investing activities (B)	(4, 126.85)	(6,345.45)	(3,701.94)	(6,006.97)
C Cash flows from financing activities
Proceeds from long-term borrowings	6,805.19	2,942.75	7,116.47	2,942.75
Repayment of long-term borrowings	(3,897.67)	(1,642.46)	(3,897.67)	(1,642.46)
Repayment of lease liability	(60.27)	(65.49)	(60.27)	(65.49)
Repayment of short-term borrowings (net)	(1,214.20)	(4,481.29)	(1,214.20)	(4, 481.29)
Finance cost paid	(834.98)	(797.77)	(839.26)	(797.77)
Dividend paid (including tax)*	(1, 584.48)	(2,084.84)	(1, 584.48)	(2,084.84)
Net cash used in financing activities (C)	(786.41)	(6, 129.10)	(479.41)	(6, 129.10)
D Net increase / (decrease) in cash and cash equivalents $(A+B+C)$	124.58	226.73	323.95	370.87
E Cash and cash equivalents at the beginning of the period	37.71	23.26	181.45	23.26
Cash and cash equivalents at the end of the period $(D+E)$ F	162.29	249.99	505.40	394.13

*This amount is deposited in bank accounts specially earmarked for dividend liabilities.

Place : Gururgam
Date: 12 November 2021

For Ester Industries Limited $\overline{\phantom{a}}$ $\overline{\mathcal{C}}$ $\begin{array}{c} \text{Arvind Singular} \ \text{Chairman & CEO} \end{array}$ ✓