Finolex Industries Ltd. — Annual Report 2021

Jul 1, 2021

FIL/SEC/SEs/2021-22/021

1st July, 2021

The Manager –Listing Department	The Manager –Listing Department
National Stock Exchange of India	BSE Limited
Limited	Registered Office: Floor 25
5, Exchange Plaza	P.J.Towers
Bandra-Kurla Complex	Dalal Street
Bandra (East),	Mumbai 400 001
Mumbai 400051
Scrip Code: FINPIPE	Scrip Code: 500940/FINOLEXIND

Sub: Publication of Audited Financial Results for the quarter and financial year ended 31st March, 2021

Ref: Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

With reference to the subject referred regulations, we enclose herewith the newspaper clippings of the Audited Financial Results of the Company for the quarter and financial year ended 31st March, 2021 published on 27th June, 2021, in the Financial Express - All India edition and Lok Satta- Pune edition.

You are requested to kindly take the above on your records.

Thanking you,

Yours truly,

For Finolex Industries Limited

Ashutosh Kulkarni Company Secretary & Compliance Officer ACS No.: 18549 ASHUTOSH B KULKARNI Digitally signed by ASHUTOSH B KULKARNI Date: 2021.07.01 12:56:31 +05'30'

Encl. as above

FINOLEX INDUSTRIES LIMITED

CIN: L40108PN1981PLC024153

Registered Office: Gat No. 399, Village Urse, Taluka Maval, Dist. Pune - 410 506.Tel No.02114-237251 Fax No.02114-237252 E-mail: investors@finolexind.com Website :www.finolexpipes.com

Statement of audited Standalone and Consolidated Financial Results for the

quarter and financial year ended March 31, 2021

		Standalone			Consolidated
Sr.	Particulars	Quarter ended	Quarter Ended	Year ended	Quarter ended	Quarter Ended	Year ended
No.		31-03-2021Audited	31-03-2020Audited	31-03-2021Audited	31-03-2021Audited	31-03-2020Audited	31-03-2021Audited
1a	Revenue from Operations	1,249.34	768.66	3,462.82	1,249.34	768.66	3,462.82
1 b	Other income	13.54	0.98	72.48	13.54	0.98	71.55
ŧ	Total income	1,262.88	769.64	3,535,30	1.262.88	769.64	3.534.37
$\overline{c}$	Net Profit / (Loss) for the period (before Tax andExceptional items)	402.05	77.14	976.80	405.07	88.73	992.06
3	Net Profit / (Loss) for the period before tax(after Exceptional items)	402.05	77.14	976.80	405.07	88.73	992.06
4	Net Profit / (Loss) for the period after tax(after Exceptional items)	297.33	55.71	728.02	298.84	58.66	737.79
5	Total Comprehensive Income for the period[Comprising of Profit /(Loss) for the period (after tax)and Other Comprehensive Income (after tax)]	380.61	(331.53)	1,143.07	382.26	(328.36)	1,152.98
6	Paid up Equity share capital (Face value ₹ 2/- per share)	124.10	124.10	124.10	124.10	124.10	124.10
7	Reserves (excluding Revaluation Reserve)	2,948.78		3,014.86
8	Earnings per share (of $\overline{\epsilon}$ 2/- each) (for continuingoperations) not annualised:Basic:Diluted:	4.79	0.90	11.73	4.82	0.95	11.89

Notes:-

1 The above results have been reviewed by the audit committee and approved by the Board at their respective meetings held on June 25, 2021.

The quarterly standalone and consolidated financial results for the period ended March 31, 2021 are the balancing figures between the audited figures in respect of the year ended March 31,2021 and the published year-to-date figures up to December 31, 2020, being the date of the end of the third quarter of the current financial year, which were subjected to limited review as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Company's factories which had to suspend operations temporarily from the March 23, 2020, due to Government's directives relating to the Novel Corona Virus causing Covid 19, resumed operations in a phased manner at different plants from April 29, 2020 onwards in accordance with the guidelines and norms prescribed by the Government authorities. The Company has evaluated the impact of Covid 19 on the operations of the Company, inventories, investments, property,

plant & equipment, current borrowings and trade payables. The management has considered the possible effects, if any, on the carrying amounts of these assets and liabilities up to the date of approval of these financial statements. Based on the information from the internal and external sources; the management estimates to recover the carrying amount of these assets and currently does not anticipate any material impairment.

• 4 The company has consolidated its associate, Finolex Plasson Industries Private Limited in which it holds 46.35% using equity method as per Ind AS 28 - 'Investment in Associates and Joint Ventures'. The Company has not consolidated an immaterial associate, Pawas Port Limited, in which the company holds 49.99% equity shares (₹ 0.05 crores) and has not commenced operations.
• 5 The Board of Directors have proposed on June, 25 2021, a Final Dividend of ₹ 2/- per equity share (subject to tax) and a Special Dividend of ₹ 2/- per equity share (subject to tax) for financial year 2020-21.
• The above statement has been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind $\overline{6}$ AS) prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• The Board of Directors at their Meeting held on February 1, 2021 approved the sub-division of each equity share of face value of ₹ 10/- fully paid up into 5 equity shares of face value of ₹ 2/- each fully paid up. The same has been approved by the Members on March 26, 2021 through postal ballot and e-voting. The effective date for the subdivision was April 16, 2021. Consequently the split of equity shares has been effected from April 16, 2021. Accordingly, equity shares and earning per share have been adjusted for share split in accordance with Ind AS 33 'Earning Per Share' read with Ind AS 10 'Events after Reporting Period'.
• Previous periods' figures have been re-grouped wherever necessary, to conform to the current period's classification. R
• The above is an extract of the detailed format of quarterly financial results filed with the stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular number CIR/CFD/FAC/62/2016 dated July 5, 2016. The full format of the quarterly financial results and explanatory notes are available on the stock exchange websites at www.nseindia.com and www.bseindia.com and on the Company's website www.finolexpipes.com.

Pune
June 25, 2021

By order of the Board of Directors For Finolex Industries Limited Anil Whabi Director (Finance) & CFO DIN: 00142052

STEP 1

in Crosses

FINOLEX INDUSTRIES LIMITED

CIN: L40108PN1981PLC024153

Registered Office: Gat No. 399, Village Urse, Taluka Maval, Dist. Pune - 410 506. Tel No.02114-237251 Fax No.02114-237252 E-mail: investors@finolexind.com Website :www.finolexpipes.com Statement of audited Standalone and Consolidated Financial Results for the

quarter and financial year ended March 31, 2021

		Standalone			Consolidated
Sr.No.	Particulars	Quarter ended	Quarter Ended	Year ended		Quarter ended Quarter Ended Year ended
		31-03-2021Audited	31-03-2020Audited	31-03-2021Audited	31-03-2021Audited	31-03-2020Auctited	31-03-2021Audited
1a	Revenue from Operations	1,249.34	768.66	3,462.82	1,249.34	768.66	3,462.82
1 b	Other income.	13.54	0.98	72.48	13.54	0.98	71.55
	Total income	1.262.88	769.64	3,535.30	1,262.88	769.64	3,534.37
$\overline{2}$	Net Profit / (Loss) for the period (before Tax andExceptional items)	402.05	77.14	976.80	405.07	88.73	992.06
3	Net Profit / (Loss) for the period before tax(after Exceptional items)	402.05	77.14	976.80	405.07	88.73	992.06
$4 -$	Net Profit / (Loss) for the period after tax(after Exceptional items)	297.33	55.71	728.02	298.84	58.66	737.79
$\overline{\mathbf{5}}$	Total Comprehensive Income for the period[Comprising of Profit /(Loss) for the period (after tax)and Other Comprehensive Income (after tax)]	380.61	(331.53)	1,143.07	382.26	(328.36)	1,152.98
$\sqrt{6}$	Paid up Equity share capital (Face value & 2/- per share)	124.10	124.10	124.18	124.10	124.10	124,10
7	Reserves (excluding Revaluation Reserve)	2,948.78		3,014.86
$\overline{8}$	Earnings per share (of ₹ 2/- each) (for continuingoperations) not annualised:Basic:Diluted:	4.79	0.90.	11.73	4.82	0.95.	11.89

Notes: -

The above results have been reviewed by the audit committee and approved by the Board at their respective meetings held on June 25, 2021.

2 The quarterly standalone and consolidated financial results for the period ended March 31, 2021 are the balancing figures between the audited figures in respect of the year ended March 31,2021 and the published year-to-date figures up toDecember 31, 2020, being the date of the end of the third quarter of the current financial year, which wer limited review as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

3 The Company's factories which had to suspend operations temporarily from the March 23, 2020, due to Government's directives relating to the Novel Corona Virus causing Covid 19, resumed operations in a phased manner at different plants from April 29, 2020 onwards in accordance with the guidelines and norms prescribed by the Government authorities.

The Company has evaluated the impact of Covid 19 on the operations of the Company, inventories, investments, property, plant & equipment, current borrowings and trade payables. The management has considered the possible effects, if any, on the carrying amounts of these assets and liabilities up to the date of approval of these financial statements. Based on the information from the internal and external sources; the management estimates to recover the carrying amount of these assets and currently does not anticipate any material impairment.

4 The company has consolidated its associate, Finolex Plasson Industries Private Limited in which it holds 46.35% using equity method as per Ind AS 28 - "Investment in Associates and Joint Ventures". The Company has not consolidated an immaterial associate, Pawas Port Limited, in which the company holds 49.99% equity shares (₹ 0.05 crores) and has not commenced operations.

5 The Board of Directors have proposed on June, 25 2021, a Final Dividend of ₹ 2/- per equity share (subject to tax) and a Special Dividend of 7 2/- per equity share (subject to tax) for financial year 2020-21.

The above statement has been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind AS) prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.

7 The Board of Directors at their Meeting held on February 1, 2021 approved the sub-division of each equity share of face value of ₹ 10/- fully paid up into 5 equity shares of face value of ₹ 2/- each fully paid up. The same has been approved by the Members on March 26, 2021 through postal ballot and e-voting. The effective date for the subdivision was April 16, 2021. Consequently the split of equity shares has been effected from April 16, 2021. Accordingly, equity shares and earning per share have been adjusted for share split in accordance with Ind AS 33 'Earning Per Share' read with Ind AS 10 'Events after Reporting Period'.

8 Previous periods' figures have been re-grouped wherever necessary, to conform to the current period's classification.

The above is an extract of the detailed format of quarterly financial results filed with the stock exchanges under Regulation a 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular number CIR/CFD/FAC/62/2016 dated July 5, 2016. The full format of the quarterly financial results and explanatory notes are available on the stock exchange websites at www.nseindia.com and www.bseindia.com and on the Company's website www.finolexpipes.com. By order of the Board of Directors

	For Finolex Industries Limited
Pune	Anil Whabi
	Director (Finance) & CFO
June 25, 2021	DIN: 00142052