GRP Limited — Interim / Quarterly Report 2023

Feb 9, 2023

From Corporate Office: 510, A Wing, Kohinoor City C-I Kirol Road, Off L.B.S. Marg, Kurla CW) Mumbai - 400 O70, India T: +91 22 6708 2600 / 2500

09.02.2023

To	To
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, Bandra Kurla Complex
Dalal Street,	Bandra (E),
Mumbai - 400 001.	Mumbai - 400 051.
509152 Scrip code :	Symbol: GRPLTD Series: EQ —

Dear Sir / Madam,

Subject : Outcome of Board Meeting held on 9" February, 2023

Dear Sir/ Madam,

Pursuant to Regulation 30 and Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we hereby inform that the Board of Directors of the Company at its meeting held today i.e. on Thursday, 9" February, 2023, inter alia, has considered and approved the following items:

1. Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended 31%' December, 2022 along with the Limited Review Report thereon by Statutory Auditors of the Company.

We are enclosing the Unaudited Standalone and Consolidated Financial Results for quarter and nine months ended 31% December, 2022 along with the Limited Review Report as Annexure-A.

1. Proposal for disinvestment of 100% Equity stake/investment held in in its wholly owned subsidiary company viz., Grip Polymers Limited. As on date, GRP Limited, together with its nominees, is holding 31,00,000 equity shares of Rs. 10/- each constituting 100% paid up & issued capital of the Grip Polymers Limited.

Grip Polymers Limited is not a material subsidiary of the Company. The disclosure required under Regulation 30 of the SEBI (LODR) Regulations, 2015 are enclosed herewith as Annexure-B.

The Board Meeting commenced at 3:30 p.m. and concluded at 8:00 p.m.

Kindly take the above information on record.

Thanking you,

Yours faithfully,

For GRP Limited

JYOTI SANCHETI Digitally signed by JYOTI SANCHETI Date: 2023.02.09 20:02:38 +05'30'

Jyoti Sancheti Company Secretary & Compliance Officer Encl : a/a

RAJENDRA & CO. CHARTERED ACCOUNTANTS

1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 2285 5770 Fax : 2283 4243 E-mail : contact@rajendraco.com

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

Review Report To the Board of Directors GRP Limited

• 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of GRP Limited ("the Company") for the quarter ended December 31, 2022 and year to date from April 01, 2022 to December 31, 2022 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This 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 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations 33 of the Listing Regulations. 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 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 Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under 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, read with SEBI Circular No, CIR/CFD/FAC/62/2016 dated 5July, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Rajendra & Co. Chartered Accountants Firm Registration No 108355W

CAS dha

A. R. Shah Partner Membership No. 047166 UDIN: 2307/66 BR QSEU 3403 Place: Mumbai Date: 9" February, 2023

GRP Limited (cy. (25191G11974P1.c002555)

	GRP Limited (cy. (25191G11974P1.c002555)
	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 DE Sea Pe					CEMBER 2022
2 on					Standalone	{® in Lakhs, except per share data
	Paiticulats		Quarter ended	31-12-2022 30-09-2022 31-12-2021 31-12-2022 31-12-2021		Nine Months ended Year ended	31-03-2022
	= zZ Revenue from Operations (Gross)	12,220.22	12,468.49			Unaudited Unaudited Unaudited Unaudited Unaudited	Audited
	Less: Goods & Service Tax	780.64	741.02	9,937.51} 606.97	37,778.75 2,236.18	29,370.85] 1,703.32	41,143.34 2,330.54
	Revenue from Operations [Other income	183.89	11,439.58 11,727.47 520.73	5.68	9,330.54 35,542.57 721.72	27,667.53 64,37	38,812.80
Hil	[Total income (i + tl)		11,623.47 12,248.20			9,336.22 36,264.29 27,731.90	38,927.16
	'V J Expenses (a) Cast of Materials consumed	5,292.85	5,684.18	4,897.51]	16,616.49	14,542.78]	19,234.19
	(b) Purchases of Stock in-Trade	=	=	:	:	-
	(c) Changes in inventories of finished goods, Stock-in- Trade and Work-in-progress	(193.73)}	(389.92)}	— (706.30)}	+ (318.57)}	(1,161.15)
	(d) Employees benefits expense	1,511.18	1,308.37	1,252.87	4,154.66	3,566,72	4,725.95
	{e) Finance Costs (t) Depreciation & amortisation expense	160.86 301,50	147.43 324.90	137.68 315.44	468.45 948.01	330.51 907.53	1,227.49
	(g) Other Expenses cco Total Expenses (IV)	4,150.57	4,506.60 11,223.23 11,581.56	3,332.83	13,189.97]	9,208.62] 9,230.03 35,059.01 27,395.01	13,481.33 38,182.23
Vv	before exceptional items and tax (II! -	400.24	666.64	106.19	1,205.28	336.89
VI	JExceptional Items	=	=	2	-	S
Vil	Profit/(Loss) before tax (V-V1) Vill Tax Expense	400.24	666.64	106.19	1,205.28	336.89
	(1) Current Tax	116.66	159.39	64.50	356.50	234.57
	(2) Deferred Tax Total Tax Expense	(111.43) 5.23	(12.94) 146.45	(35.87)] 28.63	(176.18)} 180.32	(244.59) (10.02)	(164.21)
ix X	Profit/(loss) for the period (VII-VIil) {Other Comprehensive income	395.01	520.19	77.56	1,024.96	346.91
	(i) ttems that will not be reclassified to profit or loss	(5.56) 1.40	(64.82) ee	(20.73) sds	(33.32) ae	(91.11); pas
	(ii) Income tax Peiating to Items that will not be reclassified to profit or loss
	(ili) Items that will be reclassified to profit or loss {iv) Income tax relating to items that will be	(9.59) 2.42	(197.31) 49.66	48.42 (41.86)	(365.01) 92.24	36.88. (7.49)
	reclassified to profit or loss
XI	Total Other Comprehensive Income (X) Total Comprehensive Income for the period (IX + X)	(11.33) 383.68	(196.15) 324.04	20.91 98.47	(297.70) 727.26	(39.41) 307.50	(80.41))
xi	Paid up Equity Share Capital (Face value of % 10/-		133,33	133.33	133.33	133.33
	each) Xill Reserves excluding Revaluation Reserves as per	133.33
	Balance Sheet Per share (Face value of © 10/- each) (* Not			*	:	-	13,890.26
XIV	[Earning Annualised)
	Basic (1)	29.63 °	39.02	* 5.82 *	76.87 *	26.02 *	43.39 43,39
	Diluted (2)
		29.63 *	39.02	5.82	76.87 *	26.02 *

	UNAUDITED STANDALONE SEGMENT INFORMATION FOR THE QUARTER & NINE MONTHS ENDED 31st DECEMBER 2022						(₹ in Lakhs)
Sr		Standalone
No.	Particulars	Quarter ended			Nine Months ended		Year ended
		31-12-2022	30-09-2022	$31 - 12 - 2021$	31-12-2022	31-12-2021	31-03-2022
	Segment Revenue	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	a) Reclaim Rubber
	b) Others	10,722.92	10,973.58	8,664.81	33,543.51	26,383.81	37,275.42
	Revenue from Operations (Gross)	1,497.30	1,494.91	1,272.70	4,235.24	2,987.03	3,867.92
	Less: Goods and Service Tax	12,220.22	12,468.49	9,937.51	37,778.75	29,370.84	41,143.34
	Revenue from Operations	780.64	741.02	606.97	2,236.18	1,703.31	2,330.54
		11,439.58	11,727.47	9,330.54	35,542.57	27,667.53	38,812.80
2	Segment Results
	Profit/(Loss) Before Tax & Interest from each
	segment
	a) Reclaim Rubber
	b) Others	1,028.41	786.86	596.97	2,585.20	1,748.62	2,661.51
	Total	77.01 1,105.42	113.40	140.45	235.71	230.19	284.49
	Less: Finance Costs	160.86	900.26 147.43	737.42	2,820.91	1,978.81	2,946.00
	Less: Other unallocable expenses net of unallocable			137.68	468.45	330.51	449.01
	income	544.32	86.19	493.55	1,147.18	1,311.41	1,752.06
	Profit/(Loss) before tax	400.24	666.64	106.19	1,205.28	336.89	744.93
$\overline{3}$	Segment Assets
	a) Reclaim Rubber
	b) Others	18,372.94	20,452.67	19,117.37	18,372.94	19,117.37	21,580.25
	c) Unallocated Assets	5,860.78 4,375.43	5,042.42	5,321.66	5,860.78	5,321 66	4,370.28
	Total Segment Assets	28,609.15	4,020.50	2,325.68	4,375.43	2,325.68	4,091.78
			29,515.59	26,764.71	28,609.15	26,764.71	30,042.31
$\Delta$	Segment Liabilities
	a) Reclaim Rubber	4,520.77	4,902.74	3,247.79	4,520.77	3,247.79	4,080.40
	b) Others	1,202.06	1,317.76	401.56	1,202.05	401.56	290.62
	c) Unallocated Liabilities	8,255.48	9,047.93	9,282.37	8,255.48	9,282.37	11.547.70
	Total Segment Liabilities	13,978.31	15,268.43	12,931.72	13,978.30	12,931.72	16,018.72

NOTES

$\overline{ }$

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 accounting principles generally accepted in India.

2 The above results for the quarter and nine months ended 31st December, 2022 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 9th February, 2023 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, 'Reclaim Rubber' has been identified as reportable segment and smaller business segments not separately reportable have been grouped under the heading 'Others'.

4 The Profit before Tax includes net gain on the sale of assets/investment in joint venture amounting to Rs. 112.67 lakhs for the quarter ended 31st December, 2022 and Rs. 498.22 lakhs for the nine months ended 31st December, 2022.

5 Figures for the previous period are regrouped/reclassified wherever necessary, to make them comparable

FOR GRP LIMITED

Place : Mumbai Date: 09th February, 2023

am

HARSH R. GANDHI JOINT MANAGING DIRECTOR

RAJENDRA & CO. CHARTERED ACCOUNTANTS

131] Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 2285 5770 Fax : 2283 4243 E-mail : contact@rajendraco.com

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

Review Report To the Board of Directors GRP Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of GRP Limited ("Holding Company"), its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter ended December 31, 2022 and year to date from April 01, 2022 to December 31, 2022 ("the Statement") attached herewith, 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 (the "Listing Regulations").
• 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 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations 33 of the Listing Regulations. 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.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

1. The Statement includes the results of the following entities;

GRP Limited Holding Company Grip Polymers Limited Subsidiary Company Grip Circular Solutions Limited Subsidiary Company GRIPSurya Recycling LLP LLP with majority Stake

5, Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting

RAJENDRA & CO. CHARTERED ACCOUNTANTS

1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 2285 5770 Fax : 2283 4243 E-mail; contact@rajendraco.com

principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Rajendra & Co, Chartered Accountants Firm Registration No 108355W

Qasm

A. R. Shah Partner Membership No.047166 UDIN: 2 2043/66 BG QSEv 32I0 Place: Mumbai Date: 9"" February, 2023

GRP Limited (ow: .251916)1974P1.c002555)

	GRP Limited (ow: .251916)1974P1.c002555)
	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 2022					(® in Lakhs, except per share data)!
Sr	Paiticulara		Quarter ended		Consolidated Nine Months ended		Year ended
No.					31-12-2022 30-09-2022 31-12-2021 31-12-2022 31-12-2021		31-03-2022
	Revenue from Operations {Gross}		12,207.55 ] 12,442.33		Unaudited Unaudited Unaudited Unaudited Unaudited 9,914.96 37,781.92	29,394.86	Audited 41,178.11
	Less: Goods & Service Tax Revenue from Operations	778.89	739.03 11,428.66 11,703.30	573.00	2,236.35 9,341.96 35,545.57	1,675.30 27,719.56	2,335.74 38,842.37
i Il	lOther Income Tetal Income (I+ ti}	184.21	640.10 11,612.87 12,343.40	4.43	835.49	61,02	115.66
IV	Expenses				9,346.39 36,381.06	27,780.58	38,958.03
	(a) Cost of Materials consumed (b) Purchases of Stock-in-Trade	5,295.41	5,619.83 -	4,870.22	16,566.94	14,493.17 -	19,139.62
	(c) Changes in inventories of finished goods, Stock-in- Trade and Work-in-progress	(236.86)	(380.95)	(705.90)	(361.32)	(1,161.36)	(934.97)
	(d) Employees benefits expense	1,521.20]	1,315.58)	1,264.56]	4,178.76	3,594.38	4,760.68
	le) Finance Costs (f) Depreciation & amortisation expense	162.98 304.76	147.82 328.11	138.41 318.56	471.62 957.61	331.87 916.91	451.46 1,239.97
	(g) Other Expenses Total Expenses (IV)	4,164.05	4,550.78 11,211.54 11,581.17	_3,352.50	13,266.14 9,238.35 35,079.75	9,270.33 27,445.30	13,557.19
	V Profit Before Share of Profit / (Loss) of Joint Ventures, Exceptional Items and Tax (II - 1V)						38,213.95
VI	[Share of Profit / (Loss) of Joint Ventures	aie	76438	ee	ree =	—- :	tee
	Vil aco before exceptional items and tax (V+	401.33	762.23	108.04	1,301.31	335.28	744,08
\X	Vill Exceptional Items Profit/({Loss) before tax (VII-ViNl)	- 401.33	- 762.23	+ 108.04]	-	=
X	Tax Expense				1,301.31	335.28	744,08
	(1) Current Tax (2) Deferred Tax	117.10 (111.07)	159.39 (12.62)	64,50 (35.46)	356.94 (175.17)	234.57 (243.39)	330.65 Bote
Xi	Total Tax Expense Profit/(loss) for the period (IX-X)	6.03 395.30	146.77 615.46	29.04 79.00	181.77 1,119.54	(8.82) 344.10	168.03 576.05
Xl	Other Comprehensive income (i) items that will not be reclassified to profit or loss	(5.56)
	(ii) Income tax relating to Items that will not be	1.40	(64.82) 16.32	(20.73) 5.08	(33.32) 8.39	(91.11) 22.31	(88.34)} 22.64
	reclassified to profit or loss (iii) tems that will be reclassified to profit or loss	(6.93)	(195.56)	48.42	(361.31)	37.27	(18.41}]
	tiv) Income tax relating to items that will be reclassified to profit or loss	2.42	49.66	(12.86)	92.24	(7.49)	5.58
	Total Other Comprehensive Income (XII) XII! Total Comprehensive income for the period (XI+XII)	(8.67)	(194.40)	20.91	(294.00)	(39.02)	(78.
	XIV Profit for the year attributable to	386.63	421,06	99.91	825.54	305.08	497.52
	-Owners of the Company -Non-controlling interest	395,30 (0.00)	615.46 (0.00)	79.00 0,00	4,119.54 (0.00)	344.10 0.00	576.05 (0.00)}
	Other comprehensive income for the year attributable to
	~Owners of the Company	(8.67)}	(194.40)	20.91	(294.00)	(39.02)	ae
	-Non-controlling interest Total comprehensive income for the year	°	=	>	"	,	=
	attributable to -Owners of the Company	386.63	421,06	99,91	\$25.54
	-Non-controlling interest XV Paid up Equity Share Capital (Face value of % 10/-	(0.00)	(0.00)	0.00	(0.00)
	each)	133.33	133.33	133.33	433.33
	XVI Reserves excluding Revaluation Reserves as per Balance Sheet			7	x
	XVII] Earning Per share (Face value of © 10/- each) (* Not Annualised)
	(1) Basic (2) Diluted

	UNAUDITED CONSULIDATED SEGMENT INFORMATION FOR THE QUARTER & NINE MONTHS ENDED 31st DECEMBER 2022						(* in Lakhs)
					Consolidated
Sr.	Particulars.	Quarter ended			Nine Months ended		Year ended
No.		11-12-2022	30.09.2022	31 12 2021	31-12-2022	11-12-2021	11-03-2022
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Ł	Segment Revenue
	a) Reclaim Rubber	10,710.25	10,947.41	8,642.26	11,546.68	26,407.82	37,310.19
	b) Others	1,497.30	1,494.92	1,272.70	4,235.24	2,987.04	3,867.92
	Revenue from Operations (Gross)	12,207.55	12.442.33	9,914.96	37,781.92	29,394.86	41,178.11
	Less, Goods and Service Tax	778.89	719.03	571.00	2,236.35	1,675.30	2,335.74
	Revenue from Operations	11,428.66	11,701.30	9,341.96	35,545.57	27,719.56	38,842.37
$\overline{2}$	Segment Results
	Profit/(Loss) Before Tax & Interest from each
	segment
	a) Reclaim Rubber	1,013.63	781.75	601.05	2,571.32	1,752.23	2,662.40
	ti) Others	77.01	113.40	140.45	235.71	230.19	284.49
	Total	1,090.64	895.15	741.50	2,807.03	1,982.42	2,946.89
	Less: Finance Costs	162.98	147.82	138.41	471.62	331.87	451.46
	Less. Other unallocable expenses net of unallocable income.	526.33	(14.90)	495.05	1.034.10	1,315 27	1,751.35
	Less: Share of (Profit) / Loss of Joint Ventures
	Profit/(Loss) before tax	401.33	762.23	108.04	1,301.31	335.28	744.08
3	Segment Assets
	a) Reclaim Rubber	18,298.55	19,885.32	18,921.26	18,298.55	18,921 26	21,353.35
	b) Others	5,860.78	5,042.42	5,099.80	5,860.78	5,099.80	4,121.42
	c) Unallocated Assets	4,387.36	4,221.71	2,332.70	4,387.36	2,332.70	4,100.38
	Total Segment Assets	28,546.69	29,149.45	26,353.76	28,546.69	26,353.76	29,575.15
$\overline{a}$	Segment Liabilities
	a) Reclaim Rubber	4,745.54	4,817.15	3,224.60	4,745.54	3,224.60	3,999.01
	b) Others	1,202.05	1,317.76	401.56	1,202.05	401.56	290.62
	c) Unallocated Liabilities	8,271.29	9,073.35	9,297.78	8,271.29	9,297.78	11,663.24
	Total Segment Liabilities	14,218.88	15,208.26	12,923.94	14,218.88	12,923.94	15,952.87

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 accounting principles generally accepted in India.

The above results for the quarter and nine months ended 31st December, 2022 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 9th February, 2022 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 Group's performance and allocates resources based on an analysis of various performance indicators of business segment/s in which the Group operates, 'Reclaim Rubber' has been identified as reportable segment and smaller business segments not separately reportable have been grouped under the heading 'Others'.

4 The Profit before Tax includes net gain on the sale of assets/investment in joint venture amounting to Rs. 112.67 lakhs for the quarter ended 31st December, 2022 and Rs. 580.99 lakhs for the nine months ended 31st December, 2022.

5 Figures for the previous period are regrouped/reclassified wherever necessary, to make them comparable.

FOR GRP LIMITED

HARSH R. GANDHI JOINT MANAGING DIRECTOR

Place : Mumbai Date: 09th February, 2023

ANNEXURE B

The details as required under Regulation 30 of the SEBI (LODR) Regulations, 2015 regarding disinvestment in wholly owned subsidiary are as under:

From Mumbai - 400 070, India T: +91 22 6708 2600 / 2500	Corporate Office: 510, A Wing, Kohinoor City C-I Kirol Road, Off L.B.S. Marg, Kurla CW)
		IMPACT POSITIVE
The details regarding	ANNEXURE B SEBI under Regulation required 30 as the of disinvestment in wholly owned subsidiary are as under:	(LODR) 2015 Regulations,
Sr. No.	Particulars	Details
1.	Name of the entity	GRIP Polymers Limited
2	The amount and percentage of the turnover income revenue and worth net or or contributed by such unit or division the of listed entity during the last financial year.	Revenue 3,152 Rs. percentage — 0.00 - Networth 7,84,857 Rs. - percentage — 0.06
3	agreement for sale on which Date the been entered into.	has No agreement for sale is executed
4	expected completion The date of sale/disposal.	of 25" March, 2023 subject to regulatory approvals.
5	Consideration received from sale/disposal.	such Rs. 11,00,000/- (Rupees Eleven Lakhs only)
6	Brief details of buyers and whether any of the The buyers promoter/ belong the to companies. group/group yes, If thereof.	shares shall be promoter purchased Santosh by details Jadhav and family his members. They are the in business of dealing in end of waste rubber and tyres life tubes for more than 15 years.
		Buyers belong do not to promoter promoter/ group/group companies.
7	Whether would within The transaction the fall party transactions? related yes, If the same is done at "arms length.	transaction not a is whether related party transaction.
8	slump case Additionally, of a in disclosures provided indicative __sfor amalgamation/merger, shall be disclosed by respect to such slump the listed entity with sale.	sale, Not Applicable.