Iris Clothings Limited — Interim / Quarterly Report 2022

Aug 2, 2021

IRIS CLOTHINGS LTD.

103/24/1, Foreshore Road, Binani Metal Compound, Howrah — 711102 Office: +91 33-2640 4674, 33-2637 3856.

email: accounts @irisclothings.in website : www.irisclothings.in CIN : L18109WB2011PLC166895 GSTIN : 19AACCI6963K1Z0

Date: 2.4 August, 2021

To

The Listing Department National Stock ExchangeofIndia Limited ExchangePlaza, Plot No. C/1, G Block Bandra-Kurla Complex Bandra(E) Mumbai-400051 NSE Symbol: IRISDOREME

Sub: Outcomeof the Board Meeting dated 24 August, 2021

Ref: Disclosure under Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir / Madam,

With reference to the above, this is to inform you that the Board of Directors at their meeting held today i.e., 2. August, 2021 had considered and approved the Unaudited Financial Results for the quarter ended 30" June, 2021.

A copy of the said results along with the Limited Review Report issued by the Statutory Auditors of the Companyis enclosed herewith for your records.

The meeting commencedat 5:00 p.m. and concludedat 6.00 p.m.

Thanking You.

Yoursfaithfully, For Iris Clothings Limited

IRIS CLOTHINGS LIMITED

Santosh Ladha DIBECTOR ManagingDirector (DIN: 03585561)

Encl.: As above

AMK & ASSOCIATES Sunshine Tower,7th Floor, Unit No.: 716, ) Chartered Accountants Mumbai- 400013

Stesalit Tower, Room No: 303 3rd floor, E 2-3, Block EP & GP Sector-V, Salt Lake, Kolkata- 700091 Ph- 91 (33) 40630462, 40697147

Senapati Bapat Marg, Dadar (West) —_ Ph- 91 (22) 24322838

Limited Review Report

To The Board of Directors IRIS Clothings Limited

1. We have reviewed the accompanying statement of unauditedfinancial results of IRIS Clothings Limited for the quarter ended 30'June, 2021 being submitted by the Company Pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2.This statement is the responsibility of the Company's Management and has been approved by the Board of Directors, has been preparedin accordance with the recognition and measurementprinciples laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.

3.We conducted our review of the Statement 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 financial statements are free of material misstatement. A reviewis limited primarily to inquiries of company personnel and an analytical procedure applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

4.Based on our review conducted as above, nothing has cometo our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the mannerin whichit is to be disclosed, or that it contains any material misstatement.

5. Emphasis of Matter

We draw attention to Note 5 of the standalone financial results, as regards the management's evaluation of COVID-19 impacton the future performance of the Company. Our conclusion is not modified in respect of this matter.

For AMK & Associates Chartered Accountants FRN: 327817E

Mygarven

M.No. 064475 UDIN: 2] 0G 4 UPSAAAR WX WEG

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IRIS CLOTHINGS LIMITED Registered Office: 103/24/1, FORESHORE ROAD, HOWRAH - 711 102CIN: L18109WB2011PLC166895

Statement of Unaudited Financial Results For The Quarter Ended 30th June, 2021

					(Rupees in lakhs)
		QUARTER ENDED			YEAR ENDED
SINo	PARTICULARS	$30 - Jun-21$	31-Mar-21	30-Jun-20	31-Mar-21
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
1	Revenue
	(a) Revenue from Operations	1,938.60	2,971.74	564.55	8,789,30
	(b) Other income	17.53	2.36	6.26	35.13
	Total Income	1,956.13	2,974.10	570.81	8,824.43
2	Expenses
	Cost of materials consumed	1273.02	1,700.96	109.62	4,216.99
	Purchases of Stock-in-Trade	9.51	12.44	4.35	34.86
	Changes in inventories of finished goods,Stock-in-Trade and work-in-progress	(339.82)	(89.90)	207.72	625.77
	Employee benefit expense	308.04	329.56	80.89	1,025.35
	Finance costs	62.03	57.47	87.91	301.44
	Depreciation and amortization expense	135.47	135.07	131.09	531.04
	Other expenses	265.99	487.19	76.66	1,207.40
	Total expenses	1,714.24	2,632.79	698.23	7,942.85
3	Profit before Exceptional Items and Tax (1 - 2)	241.89	341.31	(127.43)	881.58
4	Exceptional Items
5	Profit Before Tax (3 - 4)	241.89	341.31	(127.43)	881.58
6	Tax Expense	61.80	132.24		228.28
$\overline{7}$	Profit for the year (5-6)	180.09	209.07	(127.43)	653.30
8	Other Comprehensive Income (net of tax)	3.00	39.27	(9.00)	12.27
9	Total Comprehensive Income for the year (7+8)	183.09	248.34	(136.43)	665.57
10	Paid-up equity share capital (Face Value of the Share Rs.10/- each)	1,631.41	1,631.41	1,631.41	1,631.41
11	Earnings per share (of Rs. 10/- each) :
	(a) Basic	1.10	1.28	(0.78)	4.00
	(b) Diluted	1.10	1.28	(0.78)	4.00

IRIS CLOTHINGS LIMITED $\nu$ $46.$ DIRECTOR

Notes:
1	Theaboveresultshave been reviewed by the Audit Committee andapproved by the Board of Directors at their meeting heldion 2nd August, 2021
	reviewedbytheStatutoryAuditors as required under theTheaboveresultshave beenSEBI (Listing Obligations andDisclosure Requirements ), Regulations, 2015.
	Thefinancial results of the Companyhasbeenpreparedin accordance with the Indian Accounting Standards(IndAS)notifiedby the Ministry of Corporate Affairs under the Companies(IndianAccounting Standard) Rules, 2015
	Companyoperatesonlyon singleThewhich predominantly are manufacturing andsegmentstrading of garments asenvisagedinInd AS108- SegmentReporting notified under Companies(Indian Accounting Standards) Rules 2015.
	on 30th June 2021 isThefiguresforthe current quarter endednot comparable with the results of the corresponding quarter,by the Governmentinlas there was nationto Covid-19 pandemicdeclaredwide lockdown/restrictions duethe major part of theassessmentofCompanyhas made30th June 2020. Thequarter endedonanthe continuing Covid-19 pandemic.In assessing
	operations and performance, the Companyhasithe impact of the pandemicon the Company'sconsideredinternal and[external information up tothe date of the approval ofthefinancial statements andbasedon currentindicators of futureimpactof
	oftheleconomic conditions, the Managementisviewthatitwill not be severely impacted. Thethe global healthatmaybedifferentfrompandemicthatestimatedthe date of approval ofthesefinancial statements and the Companywillascontinue to closely monitor any material changestofuture economic conditions.
	Figures for the previousperiodshave been regrouped wherever necessary.

IRIS CLOTHINGS LIMITED DIRECTOR

Place : Howrah Date: 02 08 2021