Gokul Agro Resources Ltd — Interim / Quarterly Report 2021

Jul 27, 2020

Date: July 27,2020

To, Dept. of Corporate Services, BSE Ltd. 25" Floor, Phiroze Jeejeebhoy Tower, Dalal Street, Fort, Mumbai — 400 001

To, | Listing Department, National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051

Scrip Code:539725

Symbol: GOKULAGRO

Sub: Outcome of Board Meeting held on Monday, July 27, 2020:

Dear Sir / Madam,

Pursuant to Clause 33 and 30(4) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, the Board of Directors of the Company at their Meeting held today at the Registered Office of the Company have considered and approved following transactions:

• 1. Approved unaudited Financial Results of the Company for the First Quarter ended on June 30, 2020.
• 1. Approved Draft of Directors' Report for the Year ended March 31, 2020
• Approved the Notice for convening 6th Annual General Meeting of the Company.

The meeting of the Board of Directors of the Company dated July 27, 2020 commenced at 11:00 AM and concluded at01: 00 PM.

We request you to kindly take the above information on your record.

Thanking You,

For, Gokul Agro Resources G. © vor Chinart Jethwani f Company Secretary & Cor

Motera, Anmedabad, Gujarat - 380005 : Office No. 801-805, Dwarkesh Business Hub, Survey No. 126/1, Opp. Visamo society, B/H Atishay Belleview,

• 079 67123500, 67123501, M: 99099908537, Fax: 079 67123502 CIN: L15142GJ2014PLC080010
  • Plant : Survey No. 76/1, 80, 89, 91, Near Sharma Resort, Galpadar Road, Meghpar — Borichi, Tal. —- Anjar 370110, Dist — Kutchh, Gujarat (India).
• 02836 295260, 9879112574
  • garl@gokulagro.com (2 whe www.gokulagro.com

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS OF THE COMPANY

TO, | | THE BOARD OF DIRECTORS OF. GOKUL AGRO RESOURCES LIMITED (CIN: L15142GJ2014PLC080010) AHMEDABAD.

• 1. We have reviewed the accompanying statement of standalone unaudited financial results of GOKUL AGRO RESOURCES LIMITED ("The Company") (CIN: L15142GJ2014PLC080010) for the quarter ended 30 June, 2020 ("the statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015, as amended.
• 1. This statement, which is the responsibility of the Company' s Management and has been approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34. "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of. the ~ Companies Act, 2013 read with relevant rules issued thereunder. and other accounting principles generally accepted in India. Our responsibility: is to issue a report on these financial statements based on our review. &
• 3, We conducted our review of the Statement 4 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 (ICAI). A review of interim financial information consists of making inquiries, primagity of the Company's peysonne| Hpponsible for finan and accounting matters,
  • Requirements) Regulations, 2015 including. 'the r that it contains any material misstatement.

Se Kj irm mn N 1121 r W Date : July, 27 2020 TON ANS 'S. D. Patel Place : Ahmedabad | ect Partner. | | Membership No: 037671 an UDIE - ad ers AGH A ABAC ct

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED | FINANCIAL RESULTS |

TQ,

THE BOARD OF DIRECTORS OF GOKUL AGRO RESOURCES LIMITED (CIN:L15142GJ2014PLC080010) — AHMEDABAD.

• 1. We have reviewed the accompanying statement of consolidated unaudited financial results of GOKUL AGRO RESOURCES LIMITED ('the Parent") and its subsidiary 'MAURIGO PTE LIMITED (the "Subsidiary Company") and RIYA INTERNATIONAL PTE 'LIMITED (the "Step-down Subsidiary Company") (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit after tax and total comprehensive income for the quarter ended June 30, 2020 ("the statement') which includes | a joint operation of the group, being submitted by the Parent pursuant to. the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as ame nded. Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 30,06. 2019 and the corresponding period from 01.0 04. 2019 to 30.06.2019, as reported in these financial results have been approved. by the Parent, company S board of directors, but have not been subjected to review.
  • This statement, which is ( ompany's Management Directors, has been t principles laid down orting" the responsibility of the Pare prepared in accordance wit ine 'the: Anaian Accounting, (Ind AS" 34), ith relevant rules ted in lndia. Our
  • venciat:torrmation consists of. waking inquiries, ~responsible for financial and accounting matters, and applying - analytical and other review procedures. A review 1s accordance with Standar Companies Act, 2013 and we would become aware audit. Accordingly, we do substantially less in scope than an audit conducted in ds on Auditing specified under Section 143(10) of the consequently does not enable us to obtain. assurance that of all significant matters that might be identified in an not express an audit opinion.

We also performed proce under Regulation 33 ( Requirements) Regulations, dures in accordance with the circular issued by the SEBI 3) of ter LOgkoI (Ueting Obligations and Disclosure

• 1. The Statement includes the results of the following entities:-
  • 1. Gokul Agro Resources Limited Parent Company
  • 1. Maurigo PTE Limited Subsidiary Company 7
  • 1. Riya International PTE Limited Step-Down Subsidiary Company
• 5, Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports as certified by the management referred to in paragraph 4 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 Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements). 'Regulations, 2015, as amended, including the manner in which it 8 to be disclosed, or that it contains any material misstate ment.
• 2 " the above matter. The "consolidated unaudited financial _ 'results| 'Ynelude the interim financial, | information of the subsidiary companies (including. step- -down subsidiary company), whose interim financial information reflects total assets of Rs. 33.94 Crore and 235. 86 Crore, total revenue of Rs. NIL and 297. 87 Crore pel net t profinitoss afte darter e | respectively for subsidiary company and step-dow! : I interim, , finaneral result/inform a ion and : infor

Our conclusion on the statement: 1s not modified | in. n respect of our « relianc interim financi al infor matio

Date Place : July, 27 2020 - Ahmedabad

For, Surana Maloo & Co. Bie Reg. peconntants N | 112171W | Membership No.: 037671 UDIN -LOOSHHAAHHELUZE Y

Gokul Agro Resources Limited

Regd. Office : 801-805, Dwarkesh Business Hub, Opp. Visamo Soc.,

			Gokul	Agro ResourcesLimitedVisamo Soc.,		Ahmedab
		Regd. Office : 801-805, Dwarkesh BusinessHub, Opp.B/h Atishay Belleview, Motera,Statement of Unaudited Financial Results for the Quarter ended on 30th June, 2020
			Standalone Financial Results					Consolidated Financial Results
	Particulars	ended on30.06.2020	Three months Preceding three three months inmonths ended	Correspondingthe previouson 31.03.2020 year ended on30.06.2019	Year to datefigures forcurrent period:ended31.03.2020	Three monthsended on30.06.2020	Precedingthree monthsended on31.03.2020—_	Correspondingthree monthsin the previous current period .:year ended on30.06.2019	Year to datefigures forended31.03.2020
	IncomeRevenue From Operations	(Unaudited)139,559.96	(Unaudited)121,365.64	(Unaudited)114,019.70	(Audited)475,159.96	(Unaudited)154,253.35	(Unaudited)147,139.75	(Unaudited)127,868.21	(Audited)558,726.09
	Other IncomeTotal IncomeExpenditure	251.98139,811.94	368.48121,734.12	217.54114,237.24	1,195.82476,355.79	307.81154,561.16	411.64147,551.40	218.51128,086.72	1,313.13560,039.22
	Cost of materials consumedPurchase of stock-in-tradeChanges in inventories of finished goods, work-in-	120,377.979,849.302,941.33	91,822.5221,032.661,110.42	105,134.958,417.14-5,469.60	386,131.0852,918.258,820.55	106,408.1738,187.812,941.33	74,507.2363,490.451,110.42	103,569.6223,449.91-5,469.60	342,256.68178,462.948,820.55
	progress and stock-in-tradeEmployees benefits expenseFinance CostsDepreciation and amortization expense	503.321,392.96734.03	621.271,993.32623.51	549.302,069.19519,93	2,274.597,963.432,221.44	556.691,546.91743.86	670.552,098.12659.66	583.192,086.26521.68	2,458.078,384.372,261.70
	Other Expenditure (Any item exceeding 10% of totalexpenses relating to continuing operations to beshown senaratelv)Total Expenses	3,270.66139,069.56	4,162.87121,366.59	2,608.96113,829.86	13,914.00474,243.35	3,292.69153,677.45	4,537.33147,073.76	2,789.41127,530.47	14,754.18557,398.48
3	Profit / (Loss) before exceptional ItemsExceptional Items	742.380.00	367.530.00	407.390.00	2,112.430.00	883.710.00	477.640.00	556.240.00	2,640.730.00
	prone / (Loss) from ordinary activities beforeTax expense	742.38260.01	367.53153.29	407.39107.52	2,112.43674.59	883.71284.07	477.64152.14	556.24121.43	2,640.73721.37
	net Profit/ (Loss) from Ordinary Activities afterOther comprehensive income / (expenses)	482.36-	214.24-17.37	299.87-	1,437.85-17.37	599.64126.61	325.50104.17	434.81-29.07	1,919.36170.95
	Total Comprehensive incomePaid-up Equity Share Capital	482.362,637.90	196.872,637.90	299.872,637.90	1,420.482,637.90	726.252,637.90	429.672,637.90	405.742,637.90	2,090.312,637.90
	(Face Value of Rs. 2/- each)
	0 Earnings Per Share (before extraordinary items)(of Rs. 2/- each) (not annualized) :	1,318.95	1,318.95	1,318.95	1,318.95	1,318.95	1,318.95	1,318.95	1,318.95
	a) Basic (Rs.)b) Diluted (Rs.)Earnings Per Share (after extraordinary items)	0.370.37	0.160.16	0.230.23	1.091.09	0.450.45	0.250.25	0.330.33	1.461.46

1 The above results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors at their Meeting held on 27th July, 2020 2 The above financial results for the quarter ended on June 30, 2020 has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS), prescribed under Section 133 of the Companies Act, 2013, and other recognised accounting practices and policies to the extent applicable. 3 The Company is mainly engaged in Agro based Commodities and as such there are no separate Reportable Segment as per Indian Accounting Standard " Operating Segment" (Ind AS-108). Thus, no separate disclosure for Segment Reporting is made. 4 The figures for the quarter ended March 31, 2020 represent the difference between audited figures for the financial year and the limited reviewed figures for the nine months period ended December 31, 2019. Due to outbreak of COVID-19 pandemic, the company's management has made initial assessment of likely adverse impact on business and financial risks. As per current assessment, no significant impact on carrying amounts of property,plant and equipments, inventories, goodwill, intangible assets, trade receivables, investments and other financial assets is expected, and the company continue to monitor changes in future economic conditions. Being a part of the essential commodities industry, we were allowed to continue operations/ manufacturing facilities of the unit with minimum labor and staff with a condition to provide food, shelter and safety measures; hence, the company was able to manage the same at optimum level. From the measures taken as above, the management believes that there is not much adverse impact on the business and financial risk and believes that the impact is likely to be short term in nature. The management does not see any medium to long term risk in the company's ability to continue as a going concern and meeting its liabilities as and when they become due subject to the situation doesn't worsen from the current position of the pandemic. Given the uncertainties associated with nature, condition and duration of COVID-19, the impact assessment on the company's financial statements will be continuously made and provided for as and when required. However, a definitive assessment of the impact in the subsequent period is highly dependent upon circumstances as they evolve. 6 Previous year figures have been regrouped or rearranged wherever necessary to meet with the current year's reporting requirements. Notes Related to Consolidated Financial Results :- 1 The above results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors at their Meeting held on 27th July, 2020 2 The above financial results for the quarter ended on June 30, 2020 has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS), prescribed under Section 133 of the Companies Act, 2013, and other recognised accounting practices and policies to the extent applicable. 3 The Company is mainly engaged in Agro based Commodities and as such there are no separate Reportable Segment as per Indian Accounting Standard " Operating Segment" (Ind AS-108). Thus, no separate disclosure for Segment Reporting is made. 4 The figures for the quarter ended March 31, 2020 represent the difference between audited figures for the financial year and the limited reviewed figures for the nine months period ended December 31, 2019. Due to outbreak of COVID-19 pandemic, the respective group company's management has made initial assessment of likely adverse impact on business and financial risks. As per current assessment, no significant impact on carrying amounts of inventories, goodwill, intangible assets, trade receivables, investments and other financial assets is expected, and the group continue to monitor changes in future economic conditions. 5 From the measures taken as above, the management believes that there is not much adverse impact on the business and financial risk and believes that the impact is likely to be short term in nature. The management does not see any medium to long term risk in the company's ability to continue as a going concern and meeting its liabilities as and when they become due subject to the situation doesn't worsen from the current position of the pandemic. Given the uncertainties associated with nature, condition and duration of COVID-19, the impact assessment on the Company's financial statements will be continuously made and provided for as and when required. However, a definitive assessment of the impact in the subsequent period is highly dependent upon circumstances as they evolve. 6 Previous year figures have been regrouped or rearranged wherever necessary to meet with the current year's reporting requirements. _ Agro Resources Limited AN & Date : 27th July, 2020 ge ee. Place : Ahmedabad Ze EN ° yesh K. Thakkar aging Director

Reg. Off.	: Office No. 801-805, Dwarkesh Business Hub, Survey No. 126/1, Opp. Visamo society, B/H Atishay Belleview,
	Motera, Anmedabad, Gujarat - 380005
	079 67123500, 67123501, M: 99099908537, Fax: 079 67123502 CIN: L15142GJ2014PLC080010
Plant	: Survey No. 76/1, 80, 89, 91, Near Sharma Resort, Galpadar Road, Meghpar — Borichi, Tal. - Anjar 370110,
	Dist — Kutchh, Gujarat (India).
	02836 — 295260, 9879112574
	garl@gokulagro.comC2 www.gokulagro.com