GRP Limited — Interim / Quarterly Report 2021

Feb 10, 2021

10.02.2021

To BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001.

To National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

Scrip code : 509152

Symbol : GRPLTD – Series: EQ

Dear Sir / Madam,

Sub: Unaudited financial results for the quarter and nine months ended 31st December, 2020

Pursuant to Regulation 30 & 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we are enclosing herewith Standalone and Consolidated Unaudited Financial Results along with the limited review report received from our auditors for the quarter and nine months ended 31st December, 2020 as taken on record by the Board of Directors at its meeting held on 10th February, 2021.

The meeting of the Board of Directors commenced at 4.30 p.m. and concluded at 8.30 p.m.

Kindly acknowledge receipt.

Thanking you,

Yours faithfully, For GRP Ltd.

Abhijeet Sawant Company Secretary

Encl : a/a

D K P & ASSOCIATES CHARTERED ACCOUNTANTS

611 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel. No. 99875 37434 Email: deepak@dkpassociates.com

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

TO THE BOARD OF DIRECTORS OF GRP Limited

• 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of GRP Limited ("the Company") for the quarter and nine months ended December 31, 2020 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Regulations"), as amended, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated 5th July, 2016 ("the Circular").
• 1. The preparation of the Statement 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 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 and the Circular, which is the responsibility of the Company's management and approved by the Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated 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 applicable Indian Accounting Standards (Ind AS) specified under section 133 of the Companies Act, 2013 read with relevant rules issued there under and other recognised accounting practices and 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, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated 5 thJuly, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For D K P & Associates Chartered Accountants (Registration No. 126305W)

D. K. Doshi Partner Membership Number: 037148 UDIN: 21037148AAAABL5824 Place: Mumbai Date: 10th February, 2021.

GRP Limited (cin : 125191G)1974PLC002555)

	GRP Limited (cin : 125191G)1974PLC002555)
	Registered Office : Plot No.8, GIDC Estate, Ankleshwar - 393 002 Dist. Bharuch, Gujarat
	STATEMENT OF UNAUDITED STANDLAONE FINANCIAL RESULTS FOR THE QUARTER & NINE MONTHS ENDED 31st DECEMBER 2020					(2 in Lakhs, except per share data}
				Standalone			Year ended
Sr No.	Particulars		Quarter ended	31-12-2020 30-09-2020 31-12-2019 31-12-2020 31-12-2015 31-03-2020	Nine Months ended
	Revenue from Operations (Gross)	8,972.50	7,962.49	Unaudited Unaudited Unaudited Unaudited Unaudited	9,524.37 20,276.81	28,259.38	Audited 36,612.16
	Less: Goods & Service Tax	516.09	453.39	467.83	1,146.63	1,338.49	1,749.58
Il	Revenue from Operations Other Income	8,456.41 31.53	7,509.10 21.18
lll				21.78	62.29	9,056.54 19,130.18 } 26,920.89 67.82	34,862.58 66.95
IV	Total Income (I + Il) Expenses	8,487.94	7,530.28			9,078.32 19,192.47 26,988.71	34,929.53
	(a) Cost of Materials consumed	4,016.19	3,655.79	4,398.23		9,085.15 13,612.42	17,518.77:
	(b) Purchases of Stock-in-Trade (c) Changes in inventories of finished goods, Stock-in-	- 109.49	- (95.67)	- 90.90	- 106.86	- (105.43)	- (318.30)
	Trade and Work-in-progress (d) Employees benefits expense	1,427.82	1,167.41	1,547.58	3,487.28	4,464.36	6,042.41
	(e) Finance Costs	136.59 317.45	94.97 333.98	203.21 353.19	443.37 946.50	440.71 1,013.43	812.91 1,349.46
	(f) Depreciation & amortisation expense (g) Other Expenses	2,246.95	2,260.81	2,584.46	5,521.98	7,554.68	9,749.55
V	Total Expenses (IV) vena before exceptional items and tax (III -	8,254.49 333.45	7,417.29 112.99	(99.25)	9,177.57 19,591.14 26,980.17 (398.67)	3.54	35,154.80 (225.27)
VI	{Exceptional Items	-	-	-	-	-	-
VII	Profit/(Loss) before tax (V-VI)	233.45	112.99	(99.25)	(398.67)	8.54	(225.27)
	VIIl Tax Expense (1) Current Tax	-	-	(58.04)	-	(15.51)	(46.67)
	(2) Deferred Tax Total Tax Expense	69.19 69.19	22.86 22.86	(11.79) (69.83)	(90.86) (90.86)	(413.65) (429.16)	(478.45) (525.12)
IX X	Profit/(loss) for the period (VII-VIII) Other Comprehensive Income	164.26	90.13	(29.42)	(307.81)	437.70	299.85
	(i) Items that will not be reclassified to profit or loss	11.81 (3.07)	(42.50) 11.05	(41.16) 11.45	8.08 (2.10)	(150.29) 131	(179.79) 46.75
	(ii) Income tax relating to Items that will not be reclassified to profit or loss
	(iii) Items that will be reclassified to profit or loss (iv) Income tax relating to items that will be	32.41 (3.42)	125.24 (32.57)	(14.77) Alt	27.90 (7.25)	(68.58) 39 89	(296.21) 91.39
	reclassified to profit or loss Total Other Comprehensive Income (X)	32.73	61.22	(40.37)	26.63	(144.17)	(337.36)
X	Total Comprehensive Income for the period (IX + X)	196.99	151.35	(69.79)	(281.18)	293.53	(37.51)
XI	Paid up Equity Share Capital (Face value of 2 10/- each)	133.33	133.33	133.33	133.33	133.33	133.33
XIII	Reserves excluding Revaluation Reserves as per Balance Sheet	-	-	-	-	-	12,991.39
	XIV Earning Per share (Face value of 10/- each) (* Not Annualised)

	UNAUDITED STANDALONE SEGMENT INFORMATION FOR THE		QUARTER & NINE MONTHS ENDED 31st DECEMBER 2020		Standalone
Sr	Particulars		Quarter ended		Nine Months ended		Year anded
No.			Unaudited Unaudited Unaudited Unaudited Unaudited				31-12-2020 30-09-2020 31-12-2019 31-12-2020 31-12-2019 31-03-2020 Audited
1	{Segment Revenue a) Reclaim Rubber b) Others Revenue from Operations (Gross)	8,153.96 818.54 8,972.50	7,548.41 414.08 7,962.49	383.64}.	1,401.14 9,524.37 20,276.81 28,259.38	9,140.73 18,875.67 26,857.09 1,402.29	34,827.33 1,784.83 36,612.16
	Less: Goods and Service Tax Revenue from Operations	516.09 8,456.41	453.39 7,509.10	467.83	1,146.63 9,056.54 19,130.18 26,920.89	1,338.49	1,749.58 34,862.58
2	Segment Results Profit/(Loss) Before Tax & Interest from each segment	647.28	561.08	534.12	956.08	1,708.43	2,430.82
	a) Reclaim Rubber b) Others	126.89	4.12	(14.02)	86.96	136.35	141.51
	Total Less: Finance Costs	774.17 136.59	565.20 94.97	520.10 203.21	1,043.04 443.37	1,844.78 440.71	2,572.33 812.91
	Less: Other unallocable expenses net of unallocable income Profit/(Loss) before tax	404.13 233.45	357.24 112.99	416.14 (99.25)	998.34 (398.67)	1,395.53 8.54	1,984.69 (225.27)
3	Segment Assets a) Reclaim Rubber b) Others	3,187.79	18,309.86 17,352.74 3,178.62	20,199.45 3,166.64 2,426.18	18,309.86 3,187.79 3,162.81	20,199.45] 3,166.64 2,426.18	21,225.69 3,261.74 2,845.95
	c) Unallocated Assets Total Segment Assets	3,162.81	3,870.46 24,660.46 24,401.82 25,792.27 24,660.46 25,792.27				27,333.38
4	Segment Liabilities a) Reclaim Rubber b) Others c) Unallocated Liabilities	2,515.58 213.95 8,911.39	2,911.04 179.99 8,488.24	2,386.33 149.78 9,710.91	2,515.58 213.95 8,911.39 .	2,386.33 149.78 9,710.91	3,326.69 171.27 10,710.70
	Total Segment Liabilities		11,640.92 11,579.27 12,247.02.			11,640.92 12,247.02	14,208.66
NOTES 1	These results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other
2	accounting principles generally accepted in India. The above results for the quarter and nine months ended 31st December, 2020 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 10th February, 2021 and the same was subjected to "Limited Review" by the Statutory Auditors of the Company, as required under Regulation 33 of SEBI (Listing Obligations and Disclosures requirements) Regulations, 2015.
3.	Based on the "management approach" as defined in Ind AS 108 — Operating Segments, the Chief Operating Decision Maker (CODM) evaluates the Company's performance and allocates resources based on an analysis of various performance indicators of business segment/s in which the company operates, 'Raclaim Rubber' has been identified as reportable segment and smaller business
	segments not separately reportable have been grouped under the heading 'Others'. On account of the Covid-19 pandemic, the Government of India had imposed a nation-wide lockdown on 24th March, 2020, leading to 4 shut down of Company's manufacturing facilities and operations. Since April end, there has been state-wise relaxation in lockdown. Accordingly, the Company has resumed its manufacturing operations in a phased manner. To optimize operating efficiency, the Company has temporarily shut down its manufacturing operations at Tamil Nadu plant. Further, since the lockdown was in force for a significant part of nine months, the results for the period nine months ended were affected by the Covid-19 pandemic and may not be strictly comparable with that of the previous period. The Company will monitor any material changes in its operations based on future
	economic conditions.
5	Figures for the previous period are regrouped/reclassified wherever necessary, to make them comparable.				FOR GRP LIMITED
	MUMBAI \ CAA AATED ""HED ACCOUI				HARSH R. GANDHI

JOINT MANAGING DIRECTOR

D K P & ASSOCIATES

CHARTERED ACCOUNTANTS

611 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel. No. 99875 37434 Email: deepak@dkpassociates.com

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

TO THE BOARD OF DIRECTORS OF GRP Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of GRP Limited ("the Company") and its Subsidiaries (together referred to as "the Group") and joint venture for the quarter and nine months ended December 31, 2020 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Regulations"), as amended, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated 5th July, 2016 ("the Circular").
• 1. The preparation of the Statement 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 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 and the Circular, which is the responsibility of the Holding Company's management and has been approved by the Holding Company's Board of Directors. 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 Engagement. (SRE) 2410, "Review of interim Financial information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. The statement includes the result of following entities:

Grip Polymers Limited	Subsidiary Company
GRIP Surya Recycling LLP	LLP with majority Stake.
Marangoni GRP Limited	Joint venture

1. Based on our review conducted as stated above 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 the applicable Indian Accounting Standards (IND AS) specified under section 133 of the Companies Act, 2013 read with relevant rules issued there under and other recognised accounting practices and 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 read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated 5 th July, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For D K P & Associates Chartered Accountants (Registration No. 126305W)

D. K. Doshi Partner Membership Number: 037148 UDIN: 21037148AAAABK9857 Place: Mumbai Date: 10th February, 2021.

GRP Limited (cin :125191G1974PLC002555)

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ATERED ACCOUNTS eel

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	GRP Limited (CIN : L25191GJ1974PLC002555)
	Registered Office : Plot No.8, GIDC Estate, Ankleshwar - 393 002 Dist. Bharuch, Gujarat
	STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER & NINE MONTHS ENDED 31st DECEMBER 2020						(₹ in Lakhs, except per share data)
					Consolidated
Sr No.	Particulars		Quarter ended 31-12-2020 30-09-2020 31-12-2019		Nine Months ended 31-12-2020	31-12-2019	Year ended 31-03-2020
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Revenue from Operations (Gross) Less: Goods & Service Tax	9,005.00 541.15	7,984.25 469.00	9,551.55 493.89	20,334.11 1,190.19	28,345.58 1,420.14	36,722.08 1,852.28
	Revenue from Operations	8,463.85	7,515.25	9,057.66	19,143.92	26,925.44	34,869.80 63.65
н $\mathbf{III}$	Other Income Total Income $(l + ll)$	31.85 8,495.70	21.49 7,536.74	10.15 9,067.81	67.32 19,211.24	33.17 26,958.61	34,933.45
$\mathsf{IV}$	Expenses		3,635.73	4,362.34	9,027.06	13,501.40	17,364.91
	(a) Cost of Materials consumed (b) Purchases of Stock-in-Trade	3,993.27
	(c) Changes in inventories of finished goods, Stock-in- Trade and Work-in-progress	105.56	(99.69)	88.46	110.50	(126.22)	(332.77)
	(d) Employees benefits expense	1,437.06	1,173.88	1,556.40	3,509.90	4,490.48	6,077.53
	(e) Finance Costs (f) Depreciation & amortisation expense	137.90 320.66	96.26 337.23	204.40 356.82	446.97 956.34	445.05 1,025.26	818.18 1,364.47
	(g) Other Expenses	2,267.34 8,261.79	2,280.51 7,423.92	2,599.27 9,167.69	5,553.70 19,604.47	7,616.01 26,951.98	9,866.54 35,158.86
V	Total Expenses (IV) Profit Before Share of Profit / (Loss) of Joint	233.91	112.82	(99.88)	(393.23)	6.63	(225.41)
VI.	Ventures, Exceptional Items and Tax (III - IV) Share of Profit / (Loss) of Joint Ventures	$\overline{\phantom{a}}$	$\blacksquare$	$\blacksquare$		$\bar{\phantom{a}}$	$\overline{\phantom{a}}$
VII	Profit/(Loss) before exceptional items and tax (V +	233.91	112.82	(99.88)	(393.23)	6.63	(225.41)
	VI) VIII Exceptional Items
IX	Profit/(Loss) before tax (VII-VIII)	233.91	112.82	(99.88)	(393.23)	6.63	(225.41)
Χ	Tax Expense (1) Current Tax			(58.04)		(15.51)	(46.67)
	(2) Deferred Tax Total Tax Expense	69.74 69.74	23.31 23.31	(12.34) (70.38)	(89.28) (89.28)	(411.52) (427.03)	(475.48) (522.15)
XI	Profit/(loss) for the period (IX-X)	164.17	89.51	(29.50)	(303.95)	433.66	296.74
XII	Other Comprehensive Income (i) Items that will not be reclassified to profit or loss	11.81	(42.50)	(41.16)	8.08	(150.29)	(179.79)
	(ii) Income tax relating to Items that will not be reclassified to profit or loss	(3.07)	11.05	11.45	(2.10)	41.81	46.75
	(iii) Items that will be reclassified to profit or loss	33.42	124.87	(14.32)	28.29	(69.92)	(299.97)
	(iv) Income tax relating to items that will be reclassified to profit or loss	(8.42)	(32.57)	4.11	(7.25)	32.89	91.89
	Total Other Comprehensive Income (XII)	33.74 197.91	60.85 150.36	(39.92) (69.42)	27.02 (276.93)	(145.51) 288.15	(341.12) (44.38)
	XIII Total Comprehensive Income for the period (XI+XII) XIV Profit for the year attributable to
	-Owners of the Company -Non-controlling interest	164.17 0.00	89.51 0.00	(29.50) 0.00	(303.95) (0.00)	433.66 0.00	296.74 0.00
	Other comprehensive income for the year
	attributable to -Owners of the Company	33.74	60.85	(39.92)	27.02	(145.51)	(341.12)
	-Non-controlling interest Total comprehensive income for the year
	attributable to
	-Owners of the Company -Non-controlling interest	197.91 0.00	150.36 0.00	(69.42) 0.00	(276.93) (0.00)	288.15 0.00	(44.38) 0.00
	XV Paid up Equity Share Capital (Face value of ₹10/-	133.33	133.33	133.33	133.33	133.33	133.33
	each) XVI Reserves excluding Revaluation Reserves as per						12,586.35
	Balance Sheet XVII Earning Per share (Face value of ₹10/- each) (* Not
	Annualised)		$6.71*$		$(22.80)^*$	$32.53*$	22.26
	(1) Basic KP & ASSOCIATES (2) Diluted	$12.31$ $12.31$	$6.71 *$	$(2.21)^$ $(2.21)^$	$(22.80)$ *	32.53	22.26

	[UNAUDITED CONSOLIDATED SEGMENT INFORMATION FOR THE			QUARTER & N INE MONTHS ENDED 31st DECEMBER 2020	Consolidated		(% in Lakhs)
Sr	Particulars	31-12-2020 30-09-2020 31-12-2019 31-12-2020	Quarter ended			Nine Months ended 31-12-2019 31-03-2020	Year ended
No.				Unaudited Unaudited Unaudited Unaudited		Unaudited	Audited
1	Segment Revenue a) Reclaim Rubber	8,186.46	7,570.17	9167.91]	18,932.97}	26,943.29	34,937.25
	b) Others	818.54 9,005.00	414.08 7,984.25	383.64 9551.55]	1,401.14 20,334.11	1,402.29 28,345.58	1,784.83 36,722.08
	Revenue from Operations (Gross) Less: Goods and Service Tax Revenue from Operations	541.15 8,463.85	469.00 7,515.25	493.89	1,190.19 9,057.66 19,143.92	1,420.14 26,925.44	1,852.28 34,869.80
2	Segment Results Profit/(Loss) Before Tax & Interest from each segment						2,461.38
	a) Reclaim Rubber	648.77 126.89.	561.91 4.12	546.44 (14.02)	961.85 86.96	1,746.98 136.35	141.51
	b) Others Total	775.66	566.03 96.26	532.42 204.40	1,048.81 446.97	1,883.33 445.05	2,602.89 818.18
	Less: Finance Costs Less: Other unallocable expenses net of unallocable income	137.90 403.85	356.95	427.90	995.07	1,431.65	2,010.12
	Less: Share of (Profit) / Loss of Joint Ventures Profit/(Loss) before tax	- 233.91	- 112.82	- (99.88)	- (393.23)	- 6.63	- (225.41)
3	Segment Assets a) Reclaim Rubber		18,036.39 17,057.53 19,927.81		18,036.39	19,927.81	20,931.02
	b) Others	3,000.15 3,169.58	3,007.27 3,876.25	3,027.65 2,432.98	3,000.15 3,169.58	3,027.65 2,432.98	3,101.79 2,851.04
	c) Unallocated Assets Total Segment Assets		24,206.12 23,941.05	25,388.44	24,206.12	25,388.44	26,883.85
	Segment Liabilities 4	2,447.33	2,837.58	2,372.57	2,447.33	2,372.57	3,268.11
	a) Reclaim Rubber b) Others	213.95	179.99	149.78	213.95	149.78 9,724.39	171.27 10,724.79
	c) Unallocated Liabilities Total Segment Liabilities	8,926.08	8,502.63 11,587.36 11,520.20	9,724.39 12,246.74	8,926.08 11,587.36	12,246.74	14,164.17
	NOTES These results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting 1 Standard (Ind AS) prescribed under Section 133 of the Companies Act, 2 accounting principles generally accepted in India. The above results for the quarter and nine months ended 31st Decem 2 Board of Directors of the Company at their meeting held on 10th February, 2021 and the same was subjected to approved by the "limited Review" by the Statutory Auditors of the Company, as required under Regulation 33 of SEBI (Listing Obligations and Disclosures requirements) Regulations, 2015. Based on the "management approach" as defined in Ind AS 108 — Operating Segments, the Chief Operating Decision Maker (CODM) evaluates the Group's performance and allocates resources based on an analysis of various performance indicators of business						013 read with the relevant rules issued thereunder and other ber, 2020 have been reviewed by the Audit Committee and
	segment/s in which the Group operates, 'Raclaim Rubber' has been identified as reportable segment and smaller business segments not separately reportable have been grouped under the heading 'Others'. On account of the Covid-19 pandemic, the Government of India had imposed a nation-wide lockdown on 24th March, 2020, leading to shut down of Group's manufacturing facilities and operations. Since April end, there has been state-wise relaxation- in lockdown. Accordingly, the Group has resumed its manufacturing operations in a phased manner. To optimize operating efficiency, the Parent Company has temporarily shut down its manufacturing operations at Tamil Nadu plant. Further, since the lockdown was in force for a significant part of nine months, the results for the period nine months ended were affected by the Covid-19 pandemic and may not be strictly comparable with that of the previous period. The Group will monitor any material changes in its operations based on future economic conditions. Figures for the previous period are regrouped/reclassified wherever necessary, to make them comparable. 5
					FOR GRP LIMITED
	ERED te ACCOUNT hh					HARSH R. GANDHI
	Place : Mumbai Date : 10th February, 2021					JOINT MANAGING DIRECTOR

• accounting principles generally accepted in India. 1 These results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting ⁰¹³read with the relevant rules issued thereunder and other
• ²The above results for the quarter and nine months ended 31st Decem ber, 2020 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 10th February, 2021 and the same was subjected to "limited Review" by the Statutory Auditors of the Company, as required under Regulation 33 of SEBI (Listing Obligations and Disclosures requirements) Regulations, 2015.
• Based on the "management approach" as defined in Ind AS 108 Operating Segments, the Chief Operating Decision Maker (CODM) evaluates the Group's performance and allocates resources based on an analysis of various performance indicators of business segment/s in which the Group operates, 'Raclaim Rubber' has been identified as reportable segment and smaller business segments not separately reportable have been grouped under the heading 'Others'. .
• 5 Standard (Ind AS) prescribed under Section 133 of the Companies Act, ² On account of the Covid-19 pandemic, the Government of India had imposed a nation-wide lockdown on 24th March, 2020, leading to shut down of Group's manufacturing facilities and operations. Since April end, there has been state-wise relaxation- in lockdown. Accordingly, the Group has resumed its manufacturing operations in a phased manner. To optimize operating efficiency, the Parent Company has temporarily shut down its manufacturing operations at Tamil Nadu plant. Further, since the lockdown was in force for ^a significant part of nine months, the results for the period nine months ended were affected by the Covid-19 pandemic and may not be strictly comparable with that of the previous period. The Group will monitor any material changes in its operations based on future economic conditions.
• Figures for the previous period are regrouped/reclassified wherever necessary, to make them comparable.