Regd. Office: Hubtown Seasons, CTS NO. 469-A, 0pp. Jain Temple. R. K. Ghemburkar Marg, Chembur (East), Mumbai-400071 Tel.:+91-22-2526 5000 • Fax:+91-22-2526 5099 • www.hubtown.co.in. • CIN:L45200MH1989PLC050688

June 29, 2021

To,

BSE Limited	National Stock Exchange of India Limited
The Corporate Relationship Department	The Listing Department
1®' Floor, P.J. Towers, Dalai Street	Exchange Plaza, Bandra Kuria Complex
Fort, Mumbai - 400 001	Sandra (East), Mumbai - 400 051
Scrip Code: 532799	Symbol: HUBTOWN

Sub: Outcome of the Board Meeting held on June 29. 2021

Dear Sir / Madam,

We write to inform you that pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the SEBI Listing Regulations) that the Board of Directors of the Company in its meeting held today i.e. June 29, 2021 transacted the following business:

Financials:

i) Approved pursuant to Regulation 33 of the Listing Regulations, the Audited Standalone Financial Results for Quarter and Year ended March 31, 2021; and the Audited Consolidated Financial Results for the Quarter and Year ended March 31, 2021.
ii) Copies of the said results alongwith the Reports issued by the Statutory Auditors together with statements showing impact of audit qualifications for the Standalone and Consolidated Financial Results are enclosed as Annexure - 1 and the same are being uploaded on the website of the Company i.e. www.hubtown.co.in.
iii) The Audited Standalone and Consolidated Financial Results will also be published in the newspapers, in the format prescribed under Regulation 47(1 )(b) of the SEBI Listing Regulations.

Re-appointment:

i) Reappointment of Mr. Hemant M. Shah as Whole-Time Director designated as Executive Chairman of the Company for a period of three years with effect from January 01, 2022 to December 31, 2024, subject to the approval of the shareholders in the ensuing Annual General Meeting.
ii) Reappointment of Mr. Vyomesh M. Shah as Managing Director of the Company for a period of three years with effect from January 01, 2022 to December 31, 2024, subject to the approval of the shareholders in the ensuing Annual General Meeting.

Brief Profile of Mr. Hemant M. Shah and Mr. Vyomesh M. Shah are mentioned below:

Regd. Office: Hubtown Seasons, CTS NO. 469-A, 0pp. Jain Temple. R. K. Chemburkar Marg, Chembur (East), Mumbai-400071 Tel.;+91-22-2526 5000 ♦ Fax:+91-22-2528 5099 • www.hubtown.co.in. • CIN:L45200WH1989PLC050688

Sr.No	Particulars	Mr. Hemant M. Shah(DIN:00009659)	Mr. Vyomesh M. Shah(DIN:00009596)
1.	Reason for change	Re-appointment of Mr. HemantM.ShahasWhole-TimeasdesignatedDirectorChairmanExecutivetheofCompany.	Re-appointment ofMr. Vyomesh M. Shah asManagingDirector of theCompany.
2.	Date of ReAppointment andTerms of ReAppointment	The Board of Directors at themeeting held on June 29, 2021hasapprovedthereappointment of Mr. Hemant M.Shah as Whole-Time DirectorasdesignatedExecutiveChairman of the Company for afurther term of three years witheffect from January 1, 2022 toDecember 31. 2024. This reappointmentsubjecttoisapproval of shareholders at theAnnualensuingGeneralMeeting of the Company.	The Board of Directors at themeeting held on June 29,2021 has approved the reappointment of Mr. VyomeshM. Shah as a ManagingDirector of the Company for afurther term of three yearswith effect from January 1,2022 to December 31. 2024.Thisre-appointmentisapprovalsubjectoftoshareholders at the ensuingAnnual General Meeting ofthe Company.
3.	Brief Profile	Mr. Hernant M. Shah is a CivilEngineer and has experience ofover 40 years inexecutinganddiverseestaterealengineering projects. He is thekey driving force behind theCompany'sanddesignengineeringplanning,execution,construction,marketing and sales functionsas wellas futurebusinessexpansion strategies and plansfor the Company.	Mr. Vyomesh M. Shah is aChartered Accountants andhas an experience over 31years and expertise in theofestaterealfielddevelopment.projectplanning, finance, businessstrategy and management.
4.	Disclosure ofRelationshipsbetween Directors	Related to Mr. Vyomesh M.Shah, Managing Director of theCompany.	Related to Mr. Hemant M.Shah, Executive Chairman ofthe Company.

The meeting of the Board of Directors commenced at 7;00 P.M. and concluded at 11:40 P.M.

We shall inform you in due course the date on which the Company will hold its Annual General Meeting for the year ended March 31, 2021.

You are requested to take the above information on record.

Thanking you, Yours faithfully, For Hubtown Limited

Sad^rfand Lad Company Secretary End.: a/a

		HUBTOWN LIMITED
	Registered Office: Hubtown Seasons, CTS No. 469-A, 0pp. Jain Temple, R. K. Chemburkar Marg. Chembur (East). Mumbai - 400 071E-mail : [email protected] ; Website : www.hubtown.co.in	CIN : L45200MH1989PLC050688Phone : +91 22 25265000 Fax : +91 22 25265099
	Statement of Audited Standalone Financial Results for the Quarter and Year ended March 31,2021					(Rs. in Lakhs)
			Quarter ended		Year ended
	Particulars	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		Unaudited	Unaudited	Unaudited	Audited	Audited

1	income
	a Revenue from Operations	15,456	4,096	3,016	24,406	25,221
	b Other Income	1,149	1,432	1,299	4,653	3,615
	Total income (a+b)	16,605	5,528	4,315	29,059	28,836
	2 Expenses
	a. Cost of construction and development	1,631	2,835	3,307	6,051	12,556
	b. Purchases of stock-in-trade	8	(1)	110	11	472
	c. Changes in inventories of wot1<-in-progress. finishedproperties and FSi	9,681	1,114	(3,682)	7,187	(17,169)
	d. Erhployee benefits expense	143	197	486	577	1,558
	e. Finance costs	984	1,548	2,133	6,089	13,872
	f. Depreciation and amortisation expense	63	75	77	294	395
	g. Advances and other debit balances v^itten off	336	(2)	1,235	1,574	1,235
	h. Provision for Doubtful Advances / Debts	4,404	353	2,949	4,757	6,674
	1. Loss on account of Diminution in the value of inventory	1,116	-		5,044	-
	j. Impairment of inventory on dissolution of partnership firm	-	-	-	-	8,389
	k. Reduction in value of rights sold in earlier years	-	-	•	10,500	-
	1. Other expenses	460	452	890	2,748	4,709
	Total Expenses (a+b+c+d+e+f+g+h+i+J+k+1)	18,826	6.571	7,505	44,833	32,691
	3 Profit/(Loss) before Exceotibnal item and Tax f1-2t	(2,221)	(1.043)	(3,190)	(15,774)	(3,855)
4	Add/(Less): Exceptional Item (net of tax expense)	-	-	-	•	-
5	Profit/(Loss) before Tax (3+/-4}	(2,221)	(1,043)	(3,190)	(15,774)	(3,855)
	6 Tax Expense! (Credit)
	(Add)/Less:
	a. Current Tax	-	217	137	-	252
	b. Deferred Tax Charge / (Credit)	328	(73)	(1.250)	241	1,840
	c. Short / (Excess) provision for taxation in earlier year	0		-	(415)
	Total Tax expense {a+/-b+/-c)	328	144	(1.113)	(174)	2,092
7	Net Frdfit/fLossI for the oeriod (5+/-6)	(2,549)	(899)	(2,077)	(15.600)	(5,947)
8	Other Comprehensive income (net of tax)	(121)	-	-	(121)	60
9	Total Other Comprehensive income/ (Loss) (7+8)	(2,670)	(899)	(2,077)	(15,721)	(5,887)
	10 Paid-up Equity Share Capital • Face Value Rs. 10 each	7,274	7,274	7,274	7,274	7,274
	11 Other equity (excluding revaluation reserve)				144,550	160,270
	12 Earnings Per Equity Share of Rs. 10 each (not annuaiised)
	Basic EPS (Rs.)	(3.50)	(1.24)	(2.66)	(21,45)	(8.18)
	Diluted EPS (Rs.)	(3.50)	1^-24)	(2.86)	(21.45)	(8.18)

	Statement of Audited Standalone Assets and Llabllitjes as at March 31,2021
	Particulars	As at	(Rs. in Lakhs)As at
		31.03.2021Audited	31.03.2020Audited
A	ASSETS
1	Non-current Assets
	(a) Property, plant and equipment	159	1,641
	(b) Investment Property	3,609	3,756
	(c) Intangible assets	3	60
	(d) Financial Assets	-
	(i) Investments	138,704	167,629
	(ii) Trade Receivables	-	-
	(iii) Loans	678	561
	(iv) Other Financial Assets	375	582
	(e) Current Tax Assets	805	854
	(f) Deferred Tax Assets (net)	2,059	2,300
	(q) Other Non-current Assets	2,900	2,175
	Sub-total - Non-current Assets	149,292	179,558

11	Current Assets
	(a) Inventories	122,400	133,829
	(b) Financial Assets	-
	(i) Investments	1,200	287
	(ii) Trade Receivables	18,978	8,931
	(iii) Cash and cash equivalents	913	1,055
	(iv) Bank balances other than (iii) above	388	43
	(v) Loans	2,949	6,323
	(vi) Other Financial Assets	68,540	54,195
	(c) Other Current Assets	12,245	13,235
	Sub-total - Current Assets	227,613	217,898
	TOTAL ASSETS (l+ll)	376,905	397,456
8	EQUITY AND LIABILITIES

1	Equity	7,274	7,274
	(a) Equity share capital	144,550	160,270
	(b) Other equityTOTAL EQUITY	151,824	167,544

II	Liabilities
	(i) Non-current liabilities
	(a) Financial liabilities	2,850	3,051
	(i) Borrowings		3,035
	(ii) Other financial liabilities	4,156203	199
	(b) ProvisionsSub-total - Non-current Liabilities	7,209	6,285

	(ii) Current liabilities
	(a) Financial liabilities
	(i) Borrowings	24,669	23,118
	(ii) Trade payables	13,129	13,233
	(iii) Other financial liabilities	121,149	136,425
	(b) Other current liabilities	58,318	50,444
	(c) Provisions	607	407
	Sub-total - Current Liabilities	217,872	223,627
	TOTAL LIABILITIES (i+ii)	225,081	229,912

	TOTAL EQUITY AND LIABILITIES (l+ll)	376,905

STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2021

NOTES:

The above results, which have been subjected to audit by the Auditors of the Company, were reviewed by the Audit and Compliance Committee of Directors and subsequently approved and taken on record by the Board of Directors of the Company in its meeting held on June 29, 2021, as required under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The above financial results are in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Amendment Rules, 2016.
The figures for the quarter ended March 31, 2021 and quarter ended March 31, 2020 are the balancing figures between the audited figures in respect of the full financial year and the figures published year to date up to the third quarter of the respective financial year.
Given the nature of real estate business, the profit / losses do not necessarily accrue evenly over the period and as such, the results of a quarter / year may not be representative of the profits / losses for the period.
As the Company's business activity falls within a single primary business segment viz. "Real Estate Development", the disclosure requirements as per IND AS - 108 'Operating Segments' are not applicable.
Costs of the projects are based on the management's estimate of the cost to be incurred upto the completion of the project, which is reviewed periodically.
The 'Incomplete Projects' of the Company included in inventories are under various stages of development and are expected to have a net realizable value greater than their cost.
Income from operations includes share of profit / (loss) (net) from partnership firms, AORs as stated hereunder:

Particulars		Three months ended	Year ended
	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
1) Audited			0.09		0.09
ii) ManagementReviewed(Refer footnote)	(0.03)	(0.07)	(376.85)	(16.17)	(326.94)

(Rs.ln Lacs)

Footnotes;

The results of partnership firms, AORs for the year ended are prepared and compiled by the Management of such firms and have been reviewed by the Management of Hubtown Limited.

The Company has not received the financial results for one of its partnerships and one of its Joint Venture / AORs for the year ended March 31, 2021. However, in the opinion of the management, share of profit/(loss) of such partnership firm / Joint venture / AORs will not have any material impact on the consolidated financial results.

1. In respect of the corporate guarantees issued by the Company to bankers and others on behalf of the group companies, associates and joint ventures for facilities availed by them (amounting to Rs,43,647 lakhs), the management is of the view that it was necessary to provide the corporate guarantees to further the business interest of the Company in the entities on whose behalf such guarantees have been provided and the management is of the view that there would be no sustainable claims on the Company in respect of these corporate guarantees.
1. The Company has compiled a list of contingent liabilities based on the information and records available with it. Further, the Company is of the view that these liabilities will not result in any financial liability to the Company.
1. Due to outbreak of COVID 19 pandemic and lock down restrictions, company was not able to obtain year-end balance confirmations for some of its loans and advances, other receivables, debtors and creditors. These balan^ uiwi^bject to confirmations and are considered payable / realizable, as the case may be.

1. Due to COVID outbreak, revenue to the extent of Rs. 753.87 lakhs where the possession letter is issued but not received back from customers is not recognized in the standalone financial statement
1. The Company has advanced certain amounts to entities in which it has business interest with a view to participate in the earnings of the Projects being implemented by the recipient entities and hence the company has not charged any interest on these advances. Considering the nature of businesses in which these entities operate, the amounts so advanced are considered to be repayable on call / demand as the recovery period of such amounts so advanced are not measureable precisely.
1. The Company, owing to liquidity crunch, has not invested / deposited Rs. NIL lakhs {P.Y. Rs.196.11 lakhs) in the manner prescribed under Rule 18 (7) (c) of the Companies (Share Capital and Debentures) Rules. 2014, notified by the Ministry of Corporate Affairs.
1. The Company has investments in certain subsidiaries, jointly controlled entities and associates aggregating C.Y. ' 97,539 lakhs (P.Y. Rs. 97,546 lakhs) and has outstanding loans and advances aggregating C.Y. ' 15,488 lakhs (P.Y. Rs. 15,073 lakhs) as at March 3f', 2021. While such entities have incurred losses and have negative net worth as at the year end, the underlying projects in such entities are at various stages of real estate development and are expected to achieve adequate profitability on substantial completion and / or have current market values which are in excess of the carrying values. Accordingly, no provision is considered necessary towards diminution in the value of the Company's investments in such entities or in respect of loans and advances advanced to such entities, which are considered good and fully recoverable.
1. The Company has not provided interest amounting to ' 8658.24 lakhs for the quarter ended March 31®', 2021 and " 33,395.93 lakhs for the year ended March 31®*, 2021 on certain inter corporate deposits. The Company is in process of re-negotiating the terms / waiver of interest by respective lenders.
1. The Company has not recognized finance income during the quarter ended March 31®*, 2021 amounting to " 7,797.42 lakhs and ' 31,189.67 lakhs for year ended March 31®', 2021 from Deep Discount Bonds held in one of its joint venture entities as the terms of the said Bonds relating to tenure of the Bonds and redemption premium are under negotiation with the Issuer.
1. The Pandemic and the lockdown imposed to flatten the curve of infection spread have caused an unprecedented and a massive impact on the entire economy and business operations. The Company has considered the possible effects that may result from the pandemic relating to COVID -19 on the recoverability of lease rentals. The Company on the basis of internal assessment has made a provision of Rs.557.45 lakhs towards recoverability of revenue from lease rentals.
1. During the year, the Company sold Its entire stake in Twenty Five South Realty Limited, consequent to which Twenty Five South Realty Limited ceased to be a Joint Venture of the Company.
1. During the year the erstwhile Joint Venture Akruti Jaychandan Joint Venture has been reconstituted and all the Co-Venturers other than Hubtown Limited have retired. Accordingly, all the assets and liabilities of the entity have been merged in the Company with effect from 01.04.2020.
1. Previous period figures have been regrouped / reclassified / restated wherever necessary to conform to the current period's classification.

For and on behalf of the Board

Place: Mumbai I romeah M. Shah inaging Director Date: June 29,2021 ^ DIN: 00009596

	Hubtown Limited
	Ciish Flow Statement for the Year Ended 31^ March, 2021
		For the year ended	For the year ended
	Particulars	31'* March, 2021	31" March, 2020
[A]	CASH FLOW FROM OPERATING AaiVITIES
	Profit/(Loss) before tax	(15,774)	(3,855)
	Adjustments for:
	Interest Expenses	3,632	11,430
	Interest expenses on financial liabilities measured at fair value	2,451	2,422
	Interest expense on account of Right to use	5	19
	Share of Profit / (Loss) from investment in partnership firms and JVs	16	327
	(Profit)/Lo5S on sale of Investments (Net)	(3,903)	(3,037)
	Depreciation/Amortisation/Impairment of Property, Plant and	248	344
	Equipments and Intangible Assets
	Depreciation on lease assets	46	51
	Unwinding of Interest free loans	(48)	(42)
	Provision for Doubtful Receivables/Advances/Sundry balances written	1,574	1,235
	off(Profit)/Loss on sale of Property, Plant and Equipments (Net)	(707)	(611)
	Provision no longer required	(646)	(4,207)
	Interest on Partner/Proprietor's Capital	-	-
	Interest income	(1,137)	(2,168)
	Remeasurement of the net defined benefit liability/asset	(121)	59
		■	30
	Bad DebtsProvision/Advances/Sundry Balances written back	3,272	6,674
	Provision for Doubtful Debts	1,486	175
	Revaluation of Mutual fund	(0)	(0)
	Interest write back	(252)	(201)
	Interest income on financial liabilities measured at fair value	(1,850)	(2,457)
		-	(1)
	Provision for diminution in investment written backUnrealised foreign exchange (gainj/loss (Net)	-	(5)
	Unwinding of security deposits	(46)	(34)
	Investment written off	3	-
	Investment written off on account of merger	-	612
	Sundry credit balances appropriated	(77)	(1,638)
	Property, Plant and Equipments written off/discarded	622	-
	Diminution in value of Inventories	5,044	-
	Income on account of OTS	(742)	-
	Interest on income on Investment at fair value	(198)	-
	Operating Profit/(Loss) before changes in working capital	(7,102)	5,122
	Adjustment for (lncrease)/Decrease in Operating Assets
	Adjustments for decrease (increase) in inventories	6,676	(16,012)
	Adjustments for decrease (increase) in trade receivables, current	(11,533)	(1,134)
	Adjustments for decrease (increase) in other current assets	991	(3,681)
	Adjustments for decrease (increase) in other non-current assets	(1,139)	(830)
	Adjustments for other financial assets, non-current	254	(368)
	Adjustments for other financial assets, current	(2,149)	20,448
	Adjustment for lncrease/(Decrease) in Operating Liabilities	-	-
	Adjustments for increase (decrease) in trade payables, current	(26)	11,664
	Adjustments for increase (decrease) in other current liabilities	8,521	1,408
	Adjustments for provisions, current	200	62
	Adjustments for provisions, non-current	4	(19)
	Adjustments for other financial liabilities, current	(7,755)	(14,393)
	Adjustments for other financial liabilities, non-current	570	(2,042)
	Cash flow from operations after changes in working capital	(12,488)	225

	Net Direct Taxes {Paid)/Refunded	464	(358)
	Net Cash Flow from/(used in) Operating Activities	(12,024)	(133)
[B]	CASH FLOW FROM INVESTING ACTIVITIES
	Cash flows from losing control of subsidiaries or other businesses	12,500	•
	Other cash receipts from sales of equity or debt instruments of otherentities	7,849	3,695
	Other cash payments to acquire equity or debt instruments of otherentities	-	(4.567)
	Other cash receipts from sales of interests in joint ventures	287	-
	Other cash payments to acquire interests in joint ventures	(6,025)	-
	Proceeds from sales of property, plant and equipment	1,226	3,068
	Purchase of property, plant and equipment	(53)	-
	Cash advances and loans made to other parties	-	3,577
	Cash receipts from repayment of advances and loans made to otherparties	3,257	'
	Interest received	1,994	78
	Bank Balances not considered as Cash and Cash Equivalents	(345)	489
	Net Cash Flow from/fused in) Investing Activities	20,690	6,340
	CASH FLOW FROM FINANCING AaiVITIES	-	-
[C]	Proceeds from borrowings	1,008	770
	Repayments of borrowings	(7,244)	(3,611)
	Interest paid	(2,912)	(4,552)
	Net Cash Flow from/(used in) Financing Activities	(9,148)	(7,393)
	Net Increase/ (Decrease) in Cash and Cash Equivalents	(482)	(1,186)
	Cash & Cash Equivalents at beginning of period (see Note 1)	(675)	511
	Cash and Cash Equivalents at end of period (see Note 1)	(1,156)	(675)
	Control	(1,156)	(675)
Notes:
	1 Cash and Cash equivalents comprise of:
	Cash on Hands	14	17
	Balance with Banks	899	1,038
	Bank OD	(2,069)	(1,730)
	Short-term investment
	Cash and Cash equivalents	(1,156)	(675)
	Effect of Unrealised foreign exchange (gain)/loss (Net)
	Cash and Cash equivalents as restated	(1,156)	(675)
	2 Figures of the previous year have been regrouped / reclassified

Independent Auditor's Report on Standalone Financial Results of the Company Pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as Amended)

JBTM & ASSOCIATES LLP Chartered Accountants

$T_{11}$ The Board of Directors Hubtown Limited

Qualified Opinion

1. We have audited the accompanying standalone annual financial results ('the Statement') of Hubtown Limited (hereinafter referred to as the "Company") for the year ended 31" March, 2021 attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'), including relevant circulars issued by the SEBI from time to time.
1. In our opinion and to the best of our information and according to the explanations given to us, the Statement:
(a) Presents financial results in accordance with the requirements of Regulation 33 and Regulation 52 of the Listing Regulations, possible effects of the matters describe in paragraph 3 below ; and
(b) Gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued thereunder, and other accounting principles generally accepted in India, of the standalone net loss after tax and other comprehensive loss and other financial information for the Company for the year ended 31" March, 2021 except for the effects/ possible effects of the matters described in paragraph 3 below.

Basis of Qualified Opinion

1. As stated in:
(a) Note 16 to the accompanying standalone financial result of the Company for the year, with regards the Company not having provided for interest expense amounting to Rs. 33395.93 lakhs on certain inter-corporate deposits. Consequent to above, finance cost for the quarter and year ended 31" March, 2021 has been understated by Rs. 8658.25 lakhs and Rs. 33395.93 lakhs respectively resulting in a consequential decrease in the losses for the quarter and year ended 31et March, 2021. Opinion by previous auditor on the standalone financial statement for the year ended 31" March, 2020 was also modified in respect of this matter.
(b) Note 17 to the accompanying standalone financial results of the Company for the quarter and year ended March 31, 2021 with regards the Company not having recognized financial income from Deep Discount Bonds held in one of its joint venture entities. Consequently, finance income for the quarter and year ended March 31, 2021 has been understated by Rs. 7797.42 Jakhs and Rs. 31189.67 lakhs respectively. Further, loss for the quarter and year ended March 31, 2021 is

328 - 332, Linkway Estate, Malad Link Road, Malad - West, Mumbai 400 064 Direct: +91 22 4972 2211 | +91 8655 707 805 | Website: www.jbtm.in

overstated to that extent. Opinion by previous auditor on the standalone financial statement for the year ended 31st March, 2020 was also modified in respect of this matter.

We conducted our audit in accordance with the Standards on Auditing (SA's) specified under section 143(10) of the Act. Our responsibilities under those standards are further described in the "Auditor's Responsibilities for the Audit of the Statement" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by Institute of Chartered Accountants of India ('the ICAI') together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

$5.$ We draw attention to:
(a) Note 6 to the standalone financial results, regarding to recognition of expenses for ongoing projects which, based upon estimated costs, is as per the judgment of the management and has been relied upon by us, these being technical matters.
(b) Note 7 to the standalone financial results, regarding the status of the project and the opinion framed by the Company's Management regarding the realizable value of the cost incurred which; being a technical matter is relied upon by us.
(c) Note 8 to the standalone financial results, regarding non-receipt of financial statements of one of its partnership firm for year ended 31" March, 2021. In the opinion of management share of prolity (loss) of such partnership will not have any material impact on the consolidated financial results
(d) Note 9 to the standalone financial results, regarding the Corporate guarantees issued and the securities provided aggregating Rs. 43646.94 lakhs by the Company to banks and financial institutions on behalf of various entities, which are significant in relation to the losses for the year and the net worth of the Company. In the opinion of the Management, these are not expected to result into any financial liability to the Company.
(e) Note 10 to the standalone financial results, regarding reliance placed by the auditors on the certification received from the management with regards to the disclosure of contingent liabilities of the Company.
(f) Note 11 to the standalone financial results, regarding balances that are subject to confirmations, reconciliation and adjustments, if any
(g) Note 13 to the standalone financial results, regarding the Company not having charged the interest on advances given by it to various group entities developing real estate projects in which the Company has commercial and business interest.
(h) Note 15 to the standalone financial results, regarding the Company's investments in certain subsidiaries, jointly controlled entities and associates as at 31" March, 2021 which has incurred losses and carry an eroded net worth as at 31" March, 2021.
(i) Note 18 and Note 12 to accompanying statement, which describes the effects of uncertainties relating to Covid-19 pandemic outbreak on the Company's operation and management's evaluation of its impact on the accompanying Statement as at 31th March, 2021, the impact of which is significantly dependent on future developments.

Our Opinion is not modified in respect of the above matters.

Responsibilities of Management and Those Charged with Governance for the Statement

1. This Statement has been prepared on the basis of the standalone annual audited financial statements and has been approved by the Company's Board of Directors. The Company's Board of Directors is responsible for the preparation and presentation of the Statement that gives a true and fair view of the net loss and other comprehensive loss and other financial information of the Company in accordance with the accounting principles generally accepted in India, including Ind AS prescribed under section 133 of the Act read with relevant rules issued thereunder and accounting principles generally accepted in India, and in compliance with Regulation 33 and Regulation 52 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities, selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that gives a true and fair view and is free from material misstatement, whether due to fraud or error.
1. In preparing the Statements, the Board of Directors is responsible for assessing the Company's ability to continue as a going concern, and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the company or cease the operations or has no realistic alternative to do so.
The Board of Directors is also responsible for overseeing the Company's financial reporting process. 8.

Auditor's Responsibilities for the Audit of the Statement

Our objectives are to obtain reasonable assurance about the whether the statement as a whole are $9$ free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable Assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the

economic decisions of users taken on the basis of those standalone annual financial results

1. As part of an Audit in accordance with Standards on Auditing, we exercise professional judgment and maintain professional skepticism through the audit. We also:
identify and assess the risk of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud involve collusion, forgery, intentional omissions, misrepresentations, or override the Internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has in place adequate internal financial controls with reference to financial statements and the operating effectiveness of such control
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management.
Conclude on the appropriateness of the management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue. as a going concern. If we conclude that material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained upto the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the Statement or, if such disclosures. and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

The Statement of Profit and Loss of the Company includes share of profit/loss from investments in partnership firms/joint ventures aggregating to Rs (16.17) lakhs that are based on the financial

statements of the firms/joint ventures prepared by the management and presented to us on which we have relied.

1. The Statement includes the financial results for the quarter ended 31" March, 2021, being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to a limited review by us.
1. Attention is drawn to the fact that the figures for the quarter ended 31" March, 2020, Accounting Year ended 31"March, 2020 included in the statement are based on previously issued standalone financial results or standalone financials statements that are reviewed/audited by predecessor Auditor.

Our opinion is not modified in respect of the above matters.

For J B T M & Associates LLP Firm Registration No.: W100365 Chartered Accountants JUDSEYA Dhairya Bhuta

Partner Membership No.: 168889 UDIN : 21168889AAAACCL618

Mumbai, June 29, 2021

		ANNEXURE-l"	:■ ■ ■ '" zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA
	Statement on impact of Audit Qualifications (lor audit reports with modified opinionj submitted	Alongwith Annuaf Audited Financial Results (Standalone)
	Statement on Impact of Audit Qualifications for the Financial Vear ended March 31, 2021
	jsee Regulation 33/52 of the SEBf (LODR) (Amendment) Regulations, 2016]
SL1	Particulars	Audited Figures (asreported beforeadjusting forqualifications)	Adjusted Figures(audited figures afteradjusting forqualifications)
	!	(Rs. In Lakhs)	(Rs. fn Lakhs)
1	Turnover/Total Income	29059	60249
2.	Total Expenditure	44832	78228
3.	Net Profit/(Lo«s)	(15599)	{X7979j
4.	Earnings per Share	(21.44)	m-7i)
5.	Total Assets	376904	4(^094
6.	> Total Liabilities	225083	258479
7.	Net Worth	151824	149615
8.	Any other financial ltem(s} [as feltappropriate by the managementj		:■
	Audit Qualifications
	9, I Details of Audit Qualffications	Auditor's Qualifications
		Para 3{a)As stated in Note 16 to the accompanyingstandalone financial results of the Company foxthe year with regards the Comparty not havtng provided for interest expense amounting to Rs {on33395.93lakhsdeposits. Consequence to above, finance cost for jthe quarter and year ended fvlarch 31, 2021 has ibeen understated by Rs. 8658.25 lakhs and Rs. i33395.93lakhs1consequential decrease in loss fox Use quarter andyear ended March 31. 2021.	certaininlef-corpoxatea ;»eiuit;ng.nrespectiveiy;

	Para 1(b}
	acf;omp□ ny''^gAs stated In Note 17 to the zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBAstandalone financial results of the Compar.v ^orthe quarter and year ended March 31. 2021 withregards the Company not having reLognuedfinancial income from Deep Discount Bonds heldin one of its loint venture entities. Consequently,finance mcorne for the quarter and year endedMarch 31, 2021 has been understated by Rs.7797 42 lakhs and Rs. 31189,67 lakhs respectively.Further, loss for (he quarter artd year endedMarch 31, 2021 Is overstated to that extent.
Type of Audit Quailflcation	Modified Opinion
t. ' Frequency of Qualification	Fourth Time
for Audit Qua}ification{$) where the Impactis quantified by the Auditor, Management'sView:	Management's View • Para 3(a)notmte'estproirtdedTheCompanyhasamounting to Rs. 33395.93 lakhs on certain intercorporate deposits, as the Company is m theprocess of re-negoliating the terms/ waiver ofinterest by respective lenders. Consequently, thefinance cost for the quarter and year endedMarch 31, 2021 has been understated by Rs.8558.25 lakhs and Rs. 33395.93 lakhs respectivelyresulting in con^quential decrease in toss for theMarch 3.1, : 2021.quarterandendedyearManagement's View - Para 3(bJ,iThe Company has not recognized finance tnajmefrom Deep Discount Bonds held in one of its joint *venture entities as the terms of the said Bortdsrelating to tenure of the Bonds and redemptionpremium are under negoliaijon with the issuer.Consequently, the finance income for the quarterand year ended March 31, 2021 has oeert Rs.7737.42 lakhs gnd Rs. 31189.57 igkhs respectivety.Hence the toss for the quarter a/td year endedMarch 31,2021 is overstated to thai extent.

I e. 1 For Audit Qualifk8li.^iT(s) where the Imp^ j is not quantified by the Auditor Ti^ Management's estimation on the ;: Impact of audit qualification I ii If Management is unable to estimate I the Impact, reasons for the same !M. Auditor's comments on (1) or (11) above lit Signatories ; m f ^ - M i C? ! for Hubtown Limited Vyomesh M Shah Managing Director DIN ; 00009596 For Hubtown limited Abhijit Datta DIN : 00790029 Chairman - Audit and Compliance Committee Not Applitable Not Applicable For Hubtown Limited / -Siinli Mago Chief Financial Officer For J B T M & Associates LLP Firm Registration No.: W1003e5 Chartered Accountants i Place : Mumbal Dale ^ lone 29,2021 Ohairya Bhuta Partner Membership No.: 168889 .iafe

HUBTOWN LIMITED

CIN: L45200MH1989PLC050688 Registered Office; 'Hubtown Seasons, CIS No. 469-A, 0pp. Jain Temple. R.K. Chemburkar Marg.Chembur (East), Mumbai - 400 071 Phone : +91 22 25265000 ; Fax : +91 22 25265099

E-mail: [email protected] ; Website : www.hubtown.co.in

Statement of Audited Consolidated Financial Results for the Quarter and Year ended March 31,2021

						(T In Lakhs)
			Quarter ended		Year ended
	Particulars	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		Unaudited	Unaudited	Unaudited	Audited	Audited

1	Income					27,273
	a. Revenue from Operations	15,912	4,191	4,146	26,6084,598	3,845
	b. Other Income	1,005	1,483	1,3975.543	31.206	31,118
	Total Income (a+b)	16,917	5,674
2	Expenses	3,666	4,246	4,049	9,941	15,064
	a. Cost of construction and developmentb. Purchases of stock-in-trade	110	9	199	131	663
	c. Changes in inventories of work-in-progress finished
	properties and FSi	7,733	(3,343)	(5,029)	370	(20,314)
	d. Employee benefits expense	261	284	675	910	2,404
	e. Finance costs	2,181	4,525	2,144	10,510	13,894
	f. Depreciation and amortisation expense	85	93	90	364	437
	q. Provision for doubtful debts	205	353	2,949	557	6,674
	h. Impairment of Inventory on dissolution of Partnership firm	-	-	-	-	8.389
	i. Loss on account of diminution in value of Inventory	1,116	-	-	5,044	-
	j. Advances and other debit balances written off	336	(2)	-	1,574	-
	k.Reduction in value of rights sold in earlier years	-	-	-	10,500	-
	1. Other expenses	688	1,515	2,704	4,282	6,813
	Total Expenses (a+b+c+d+e+f+a+h+i+i+k+l)	16.381	7.680	7,781	44,183	34,024
	Profit/(Loss) from operation before Exceptional Item and
3	Tax M-21	536	(2,006)	(2,238)	(12,977)	(2,906)
4	Add/{Less); Exceptional Item (net of tax expense)	-	-	-	-	-
5	Profit/fLoss) before Tax (3+/-4)	536	(2,006)	(2.238)	(12.977)	(2,906)
6	Tax Expense / (Credit)
	(Add)/Less:
	a. Current Tax	87	(217)	183	168	299
	b. Deferred Tax Charge / (Credit)	330	71	(1.626)	241	1,428
	c. Short / (Excess) provision for taxation in earlier year	-	-	-	(415)	-
	Total Tax expense (a+/-b+/-c)	417	(146)	(1,443)	(6)	1,727
7	Net Profit/(Loss) for the period (5+/-6)	119	(1,860)	(795)	(12,971)	(4.633)

8	Share of Profit/(Loss) of Associates and Joint Venture (net)	(343)	(88)	(404)	815	(1,429)
9	Goodwill on acquisition / consolidation adjusted	-		-	(5)	-
9	Net Profit/(Loss) after tax and share of Associates and
	Joint Venture	(224)	(1.948)	(1,199)	(12,161)	(6,062)
	10 Other comprehensive income (net of tax)	(128)	-	8	(128)	70
11	Total comprehensive Income/ILoss) (9+/-10)	(352)	(1.948)	(1.191)	(12.289)	(5,992)
	12 Net Profit/(Loss) attributable to:
	- Owners of the Parent	(154)	(1,926)	(1,726)	(12,048)	(6,074)
	- Non-controllinq interest	(70)	(22)	527	(113)	12
	13 Other comprehensive Income attributable to :
	- Owners of the Parent	(128)	-	8	(128)	70
	- Non-controlling interest	-	-	-	-	■
	14 Total comprehensive income attributable to:
	- Owners of the Parent	(282)	(1.926)	(1,718)	(12,176)	(6,004)
		(70)	(22)	527	(113)	12
	- Non-controlling interest					7,274
15	Paid-up Equity Share Capital - Face Value ? 10 each	7,274	7,274	7,274	7,274
16	Other Equity (Excluding Revaluation Reserve)				133,905	145,949
17	Earnina per Share (EPS) of 710 each (not annuatised)
	Basic EPS (?)	(0.31)	(2.68)	(1.65)	(16.72)	(8.33)
	Diluted EPS (?)	(0.31)	(2.68)	(1.65)	(16.72)	(8.33)

	HUBTOWN LIMITEDCIN: L45200MH1989PLC050688
	Registered Office: 'Hubtown Seasons, CIS No. 469-A. 0pp. Jain Temple, R.K. Chemburkar Marg,		Chembur
	(East), Mumbai - 400 071
	Phone : +91 22 25265000 ;	Fax : +91 22 25265099
	E-mail: [email protected] ; Website : www.hubtown.co.in

	Statement of Audited Consolidated Assets and Liabilities as at March 31,2021
			(7 in Lakhs)
	Particulars	As at	As at
		31.03.2021	31.03.2020
A	ASSETS	Audited	Audited
1	Non-current Assets
	(a) Property, plant and equipment	2,379	3,785
	(b) Capital work-in-progress	1,665	1,662
	(c) Investment Property	3,614	3,763
	(d) Goodwill on consolidation	957	962
	(e) Other Intangible assets	19	83
	(f) Financial Assets
	(i) Investments	125,25015,528	151,40116,311
	(ii) Loans and Advances(iii) Other Financial Assets	449	654
	(g) Current Tax Assets	1,187	1,442
	(h) Deferred Tax Assets (net)	2,062	2,300
	(i) Other Non-current Assets	3,170	2,445
	Sub-total - Non-current Assets	158,280	184,808

II	Current Assets
	(a) Inventories	175,939	180,503
	(b) Financial Assets	72	343
	(i) Investments(ii) Trade Receivables	18,522	8,958
	(iii) Cash and cash equivalents	4,635	2,898
	(iv) Bank balances other than (iii) above	1,616	1,267
	(v) Loans and Advances	9,888	11,928
	(vi) Other Financial Assets	60,526	43,420
	(c) Other Current Assets	15,178	15,586
	Sub-total - Current Assets	286,376	264,903
	TOTAL ASSETS (l+ll)	442,656	449,711

8	EQUITY AND LIABILITIES
1	Equity
	(a) Equity share capital	7,274	7,274
	(b) Other equity	133,905	145,949
	Equity attributable to owners	141,179	153,2232,202
	Non-controlling interestTOTAL EQUITY	2,089143,268	155,425

II	Liabilities
	(i) Non-current liabilities
	(a) Financial liabilities
	(i) Borrowings	28,216	21,245
	(ii) Other financial liabilities	7,792	6,537
	(b) Provisions	2047	2005
	(c) Deferred Tax Liabilities (Net)	36,219	27,987
	Sub-total - Non-current Liabilities
	(ii) Current liabilities
	(a) Financial liabilities
	(i) Borrowings	24,835	23,283
	(ii) Trade payables	18,837	19,218
	(iii) Other financial liabilities	144,060	157,757
	(b) Other current liabilities	74,788630	65,612415
	(c) Provisions(d) Current Tax Liabilities	19	14
	Sub-total - Current Liabilities	263,169	266,299
	TOTAL LIABILITIES (l+ii)	299,388	294,286

	TOTAL EQUITY AND LIABILITIES (l+ll)	442,656	449,711

AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

NOTES;

1. The above financial results, which have been subjected to audit by the Auditors of the Company, were reviewed by the Audit and Compliance Committee of Directors and subsequently approved and taken on record by the Board of Directors of the Company in its meeting held on June 29, 2021 as required under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
1. Given the nature of real estate business, the profit / losses do not necessarily accrue evenly over the period and as such, the results of a quarter I year may not be representative of the profits I losses for the period.
1. As the Company's business activity falls within a single primary business segment viz. "Real Estate Development", the disclosure requirements as per IND AS -108 'Operating Segments' are not applicable.
1. Costs of the projects are based on the management's estimate of the cost to be incurred upto the completion of the project, which is reviewed periodically.
1. The 'Incomplete Projects' of the Company included in inventories are under various stages of development and are expected to have a net realizable value greater than their cost.

Sr.No.			Quarter Ended			(Rs. in lakhs)Year ended
	Particulars	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
1.	Total Income*	16,605	5,528	4,315	29,059	28,836
2.	Profit / (Loss)before Tax	(2.221)	(1.043)	(3.190)	(15.773)	(3,855)
3.	Profit / (Loss)after Tax	(2.549)	(899)	(2,077)	(15,599)	(5,947)
4.	TotalComprehensiveIncome (Loss)	(2,670)	(899)	(2,077)	(15,720)	(5.887)

Key Information on Financial Results (Standalone):

• - includes Income from operations and other income.

1. In respect of the corporate guarantees issued by the Company to bankers and others on behalf of the associates and joint ventures for facilities availed by them (amounting to Rs.22,492 lakhs), the management is of the view that it was necessary to provide the corporate guarantees to further the business interest of the Company in the entitles on whose behalf such guarantees have been provided and the management is of the view that there would be no sustainable claims on the Company in respect of these corporate guarantees.
1. The Company has compiled a list of contingent liabilities based on the information and records available with it. Further, the Company is of the view that these liabilities will not result in any material financial liability to the Company.
1. Due to outbreak of COVID 19 pandemic and lock down restrictions, company was not able to obtain year-end balance confirmations for some of its loans and advances, other receivables, debtors and creditors. These balances are subject to confirmations and are considered payable / realizable, as the case may be.
1. The Company has advanced certain amounts to entities in which it has business interest with a view to participate in the earnings of the Projects being implemented by the recipient entities. Considering the nature of businesses in which these entities operate, the amounts so advanced are considered to be repayable on call / demand as the recovery period of such amounts so advanced are not measureable precisely.
1. The Company, owing to liquidity crunch, has not invested I deposited Rs. NIL lakhs (P.Y. Rs. 198.11 lakhs) in the manner prescribed under Rule 18 (7) (c) of the Companies (Share Capital and Debentures) Rules, 2014, notified by the Ministry of Corporate Affairs.
1. The Company has not provided interest amounting to f 8,658.24 lakhs for the quarter ended March 31®\ 2021 and ? 33,395.93 lakhs for the year ended March 31^ 2021 on certain inter-corporate deposits. The Company is in process of re-negotiating the terms / waiver of interest by respective lenders.

1. The Company has not recognized finance income amounting to ? 7,797.42 lakhs and ? 31,189.67 lakhs during the quarter ended March 31'*, 2021 and for the year ended March 3l", 2021 respectively, from Deep Discount Bonds held in one of its joint venture entities as the terms of the said Bonds relating to tenure of the Bonds and redemption premium are under negotiation with the Issuer.
1. The Company has not received the financial results for one of its partnerships for the year ended March 31, 2021. However, in the opinion of the management, share of profit/{loss) of such partnership firm will not have any material impact on the consolidated financial results
1. The Statement includes the financial information of five subsidiaries, seven joint ventures and three associates which have not been audited by respective auditors of the companies. In the opinion of the management, aggregate of the audited financials results of these companies will not differ from the financial information certified by the management and included in the consolidated financial results of the company.
1. The Pandemic and the lockdown imposed to flatten the curve of infection spread have caused an unprecedented and a massive impact on the entire economy and business operations. The Company has considered the possible effects that may result from the pandemic relating to COVID -19 on the recoverability of lease rentals. The Company on the basis of intemal assessment has made a provision of Rs. 557.45 lakhs towards recoverability of revenue from lease rentals,
1. During the year, the Company sold its entire stake in Twenty Five South Realty Limited, consequent to which Twenty Five South Realty Limited ceased to be a Joint Venture of the Company.
1. During the year the erstwhile Joint Venture Akruti Jaychandan Joint Venture has been reconstituted and all the Co-Venturers other than Hubtown Limited have retired. Accordingly, all the assets and liabilities of the entity have been merged in the Company with effect from 01.04.2020.
1. Previous period figures have been regrouped / reclassified / restated wherever necessary to conform to the current period's classification.

For and on behalf of the Board

Place; Mumbai / I

Vyomes/h M. Shah

DIN: 00009596

Date: June 29,2021 ^ ^ Managing Director

Hubtown Limited
Consolidated Cash Flow Statement for the Year Ended 31** March, 2021		(? In Lakhs)
Particulars	For the year ended	For the year ended
	31** March, 2021	31*' March, 2020
[A] CASH FLOW FROM OPERATING ACTIVITIES
Profit/(Loss} before tax	(12.977)	(2,906)

Adjustments for:Depreciation/Amortisation/Impairment of Property, Plant and Equipments and Intangible
Assets	364	437
Interest income on financial assets / liabilities measured at fair value	(1,651)	(4,914)
Interest Income	(1,189)	(354)
Interest Expenses	8,059	11,437
Interest expense on financial liablities measured at fair value	2,451	2,422
(Profit)/Loss on sale of Investments (Net)	(4,688)	(3,037)
Advance written off recovered	-	(1,591)
Project expenses written off / amortised	-	(1,175)
Provision for Doubtful Receivables/Advances/Sundry balances written off	1,583	7,338
Provision/Advances/Sundry Balances written back	(1,018)	(6,309)
Income on account of OTS	(742)	-
Loss on account for diminution in value of Inventories	5,044	-
Provision for doubtful debts	557	-
(Profit)/Loss on sale of Property, Plant and Equipments (Net)	(707)	(611)
Property, Plant and Equipments written off/discarded	622	-22
Investment written off	-5	19
Interest expense on account of Right to use	17	(323)
Share of Profit / (Loss) from investment in partnership firms and JVs	(128)	70
Remeseaurement of the net defined benefit liabiliy / asset	-	(7)
Unwinding of financial asset
Other adjustments for non-cash items	(4,395)	518
Operating Profit/(Loss) before changes in working capital
Adjustment for (Increasej/Decrease in Operating Assets
Adjustments for decrease (increase) in inventories	(480)	(9,557)
Adjustments for decrease (increase) in trade receivables, current	(10,122)	3,464
Adjustments for decrease (increase) in other current assets	408	(2,308)
Adjustments for decrease (increase) in other non-current assets	(725)	210
Adjustments for other financial assets, non-current	205	(385)
Adjustments for other financial assets, current	(2,013)	5,862
Adjustment for lncrease/(Decrease) in Operating Liabilities
Adjustments for increase (decrease) in trade payables, current	637	6,210
Adjustments for increase (decrease) in other current liabilities	9,176	9,181
_Adjustments for provisions, current	215	31
Adjustments for provisions, non-current	4	(25)
Adjustments for other financial liabilities, current	(9,233)	(4,225)
Adjustments for other financial liabilities, non-current	2,907	(2,245)

Cash flow from operations after changes In working capital	(13,416)	6,732
Net Direct Taxes (Paid)/Refunded	505	52
Net Cash Flow from/fused In) Operating Activities	(12,910)	6,784
[B1 CASH FLOW FROM INVESTING ACTIVITIES
Other cash receipts from sales of equity or debt instruments of other entities	7,757	3,247
Other cash payments to acquire equity or debt instruments of other entities	-12,787	(4,460)
Other cash receipts from sales of interests in joint ventures	(6,025)	--
Other cash payments to acquire interests in joint ventures	1,181	477
Proceeds from sales of property, plant and equipment	(53)	(240)
Purchase of property, plant and equipmentProceeds from sales of investment property	149	3,033
Proceeds from sales of intangible assets	64	-
	-	(Ill)
Purchase of intangible assetsCash advances and loans made to other parties	-	(1,613)
Cash receipts from repayment of advances and loans made to other parties	2,823	306
Interest received	2,028	128
Bank Balances not considered as Cash and Cash Equivalents	(349)	475
Net Cash Flow from/fused In) investing Activities	20,362	1,244
[C] CASH FLOW FROM FINANCING ACTIVITIES
[proceeds from borrowings	11,545	772

Repayments of borrowings	(9,909)	(4, 917)
Interest paid	(7, 351)	(4, 552)
Net Cash Flow from/(used in) Financing Activities	(5, 715)	(8,697)
Net Increase/ (Decrease) in Cash and Cash Equivalents	1,737	(669)
Cash & Cash Equivalents at beginning of period (see Note 1)	2,898	1,838
Cash and Cash Equivalents at end of period (see Note 1)	4,635	1,168

Independent Auditor's Report on Consolidated Financial Results of the Company Pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as Amended)

JBTM & ASSOCIATES LLP Chartered Accountants

To The Board of Directors Hubtown Limited