Jindal Poly Films Ltd. — Interim / Quarterly Report 2021

Aug 14, 2021

�i'J) JINDAL POLY FILMS LTD.

Plot No. 12, Sector B-1, Local Shopping Complex, Vasant Kunj, New Delhi - 110070 (INDIA) Phone : 011-40322100 Fax : (91-11) 40322129 Web. : www.jindalgroup.com

JPFL/DE-PT/SE/2021-22

August 14, 2021

The Manager, Listing National Stock Exchange of India Ltd. Exchange Plaza, Bandra-Kurla Complex Sandra (E) MUMBAI - 400 051 Scrip Code: NSE: JINDALPOL Y)

The Manager Listing BSE Limited. Phiroze Jeejeebhoy Towers, Dalal Street, Fort, MUMBAI -400 001 Scrip Code: BSE: 500227

Re: ISIN : INE197D01010

Sub: Out Come of the Board Meeting held on August 14, 2021

Dear Sir/Madam,

Pursuant to the provisions of the SEBI (LODR) Regulations, 2015, this is to inform you that the Board of Directors of the Company at its Meeting held today i.e. August 14, 2021, has inter-alia considered and approved the Unaudited Standalone and Consolidated Financial Statements and Limited Review Reports thereon for the first Quarter ended June 30, 2021 (enclosed).

A copy of above is being uploaded in the website of BSE/NSE and Company's website at www.Jindalpolycom.

Further meeting commenced at 11:15 a.m. and concluded at 13:00 p.m.

Kindly bring it to the notice of all concerned.

Yours Sincerely,

For Jindal Poly Films Limite F. sanjeev Kumar D ,:, . ro . Company Secretary -0��ew , .. M No. ACS: 18087 ·'lb Encl.: A/a

Regd. Office: 19th K.M. Hapur Bulandshahr Road, P.O. Gulaothi, Distt. Bulandshahr (U.P.) CIN: L17111UP1974PLC003979

j !

JINDAL POLY FILMS LIMITED CIN :- L17111UP1974PLC003979

Regd. Office: 19th K.M., Hapur Bulandshahr Road, P.O. Gulaothi, Bulandshahr (U.P.) Statement Of Unaudited Standalone Financial Results for the quarter ended June 30, 2021

	Statement Of U	naudi	ted Stand	alone Financial	Results for the q	uarter ended June 30	, 2021
							Rs. in	lakhs except EPS
						Quarter ended		Year ended
S.No.	Partkulars				June 30. 2021 (Unudited)	March 31, 2021 (Audited) (refer notes)	June 30, 2020 (Unaudited)	March 31, 2021 (Audited) (refer note 5)
1	Income
	£.<cvcmh� from operations				l,3'.l.468	1,14,864	76,429	·J,07.,181
	ou,er m.come				4,558	5,110	1,888	13,550
	Tot.1 I Income				l,38,026	1,19,974	78,317	4,21,031
2	Expenses
	C(lSl of materials con,;umed				86,876	78,335	37,186	2,32,168
	l'urrh,,,.._, of stock-in-trade				.			1
	ChJlll{C!-ininventories of finished goods, work-in-progress and stud,· in-trndc				(7,078)	(S,219)	3,322	(-LOIS)
	Emplovcc benefits expense				2,947	3,291	2,426	ll,330
	Finarn;c costs				2,550	(2,610)	2,629	5,721
	Depreciation and amortisationexpe11se				3,665	3,541	3,384	14,215
	Other expenses				17,948	17,290	12,244	58,177
	Total Expenses				1,06,908	91,608	61,191	3,17,564
3 4	Profil before exceptional items and tax Fxccplion.il items gain/ (loss)				31,117 �	28,366	17,126	1,03,467-
5	l'rofit/ (Loss) before tax				31,117	28,366	17,126	1,03,467
6	Tax expense charge/ (credit)
	Curnm, tax				7,742	6,185	4,722	2S,57•l
	Currt.>nt tax adjustment relating to earlier years				.	531		('12(,)
	Deferred tax				95	(1,124)	(195)	260
	Tot.,l tax				7,837	5r'j92	4,527	24,909
7	Net Profit/(Loss) for the period				23,280	22,774	12,599	78,558
8	Other comprehensive income
	Items that will not be reclassified to	profit or loss		(net of ta,
	thereon)
	- Remeasurcme11ts of post employment	benefit obligations			27	53		109
JO	Tot.i comprehensive income for the t>rofil/(Loss) and other comprehensive income) Other Equity (excluding revaluation reserve)		period	(Comprising	23,106	22,827	12,599	78,667 2,54,030
11	Paid up equity share capital ( Face Value	Rs.10/- each)			4,379	4,379	4,379	•l,379
	Earnings/(loss) per equity share of Rs.10/- Each (Not annualised)
12
	l.\,1sk and Diluted Earnings per share				5317	5201	28.77	179..l0

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Reportable Operating Segment Informations

S.No.	Pariculars		Ouarer Ended		Year Ended
		JuneJO, 2021 (Unudited)	March 31, 2021 (Audited) (refer note 5)	June 30, 2020 (Unaudited)	March 31, 2021 (Audited) (refer note 5)
1	Segment Revenue
	Packaging films	1,14,910	l,00,381	63,037	3,46,516
	Nonwoven fabrics	'18,558	14,483	13,392	60,965
	Revenue from operations	1,33,468	1,14,86	76,429	4,07,481
2	Segment Results
	Packaging film	26,427	20,735	13,170	80,931
	Nonwoven fabrics	5,919	3,804	6,951	25,746
	Other unallocable icome/(expenscs) (net)	1,321	1,218	(366)	2,511
	Profit before finance costs and tax	33,667	2,756	19,755	1,09,188
	Less : Finance costs	2,550	(2,610)	2,629	5,721
	Profit before tax	31,117	28,366	17,126	1,03,467
3	Segmenl Assets
	Packaging film	3,28,272	2.93,534	3,03,373	2,93,534
	Nonwoven fabrics	82,637	82,599	82,398	82,599
	Unallocable assets	1,2105	95,718	52,687	95,718
	TotalAssets	5,32,014	4,71,851	4,38,458	4,71,851
4	Scgmenl Liabilities
	Packaging films	96,323	87,686	70,198	87,686
	Nonwoven fabrics	14,876	16,558	13,857	16,558
	Unallocable liabilities	1,39,306	1,09,198	1,61,623	1,09,198
	Total Liabilities	2,50,505	2,13,442	2,45,679	2,13,442

Notes :

Standalone Financial Results has been prepared in accordance with the Indian Accounting Standards ("Ind AS") prescribed under section 133 of the Companies Act 2013 read with the relevant rules issued thereunder,

2 The Standalone Financial Results and Segments were reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors at their respective meetings held on August 14, 2021 and limited review of these results has been carried out by the Statutory Auditors of the Company

• 3 COVID - 19 pandemic has caused serious disruption on the global economic and business environment. ll1ere is uncertainty with regard to its in,pact which cannot be reasonably deterrnii,ed at this stage However, the Company has evaluated and considered to the extent possible the likely impact that may arise from COVJD-19 pandenuc as well as all event and circumstances upto the date of approval of these Financial results on U1c carrying value of its assets and liabilities as on June 30, 2021 Based on the current indicators of future economic conditions, U1e Company estimales to recover the carrying amount of these assets and. cfdequate liquidity is available 111ese estimates are subject to uncertainty and may be affected by the severity and duration of the pandemic. 'Il1e Company is continuously monitorinp, any material changes in future economic conditions

• During Ll,e quarter under review, Jindal India Thermal Power Limited (herein after referred as "JlTPL") (a group company) entered into the requisite definitive agreement(s) in respect of Resolution Plan/ One time Settlement with its lcnder(s) and is in the process of implementation In view of this1 the Company is required to assess the impact nn its previous Investmt'nts in "JiI1dal India Powertech Limited" holding company of Jlll'L of Rs 65,065 48 Lakhs written off ii, books of accounts in earlier period, Hence accordingly, on the recommendation of the Audit Commlltee, Bo.1rd hc1s appointed Valuer to asse�s the overall impact in respect of earlier investments based on future financial viability of JI !"PL The valuation process has been initiated and the financial impact lhereof, if any, will be accounted for m the quarter and six months ending September 2021

• 5 The figures for Ll,e quarter ended March 31, 2021 are tl1c balancmg figures between audited figures for the full financial figures and published year to date figures for the nine months

• 6 ·n1e figures for the previous periods have been rep,rouped / rearranged, wherever considered necessary, to confirm current period dassifications

• 7 The results of the Company are available for investors at www jindalpoly com, www .nsr.in<lia co111 and www bseindia com

Place : New Delhi Date : August 14, 2021

By Order of the Board For Jindal Pofy Films limited

SANJEEV SAXENA Sanjeev Saxena Whole Time Director DIN - 07899506

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Sing/i el Co. Chartered Accountants

Unit No. 1704, 17th Floor, Tower B, World Trade Tower, ONO Flyway, C-01, Sector 16, Noida-201301, Delhi-NCR (India) I Ph:(0120) 2970005 Mob. 9205575996 E-mail : newdelhi@singhico.com I Website : w .singhico.com

Independent Auditor's Review Report on Standalone Unaudited Financial Results for the quarter ended June 30, 2021 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, as amended

To the Board of Directors of Jindal Poly Films Limited

We have reviewed the accompanying statement of standalone unaudited financial results ("the Statement") of Jindal Poly Films Limited ('the Company'') for the quarter ended June 30, 2021. This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagements (SAE) 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 results are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures 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.

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

Emphasis of Matter

We draw attention to note no. 4 to attached financial results regarding assessment and accounting of financial impact on investments in a group company written off in earlier period, in view of resolution plan/ one time settlement by the group company with its lenders.

Our conclusion on the statement is not modified in respect of the above matter.

Place: Naida (Delhi - NCR) Date: August 14, 2021

For Singhi & Co. Chartered Accountants Firm Registration No. 302049E

==> picture [76 x 75] intentionally omitted <==

bimal kumar Digitally signed by bimal kumarsipani Date: 2021.08.14 13:23:12 sipani +05'30'

Bimal Kumar Sipani Partner Membership No. 088926 UDIN: 21088926AAAAL05984

Pagelofl

AHMEDAC3/\D

KOL.KATA

BE-'\JGALUF�U

MUMBAI

CHENNAI

JINDAL POLY FILMS LIMITED

CIN :- L17111UP1974PLC003979

Regd. Office: 19th K.M., Hapur Bulandshahr Road, P.O. Gulaothi, Bulandshahr (U.P.) Statement Of Unaudited Consolidated Financial Results for the quarter ended June 30, 2021

	Statement Of Unaudited	Cons	olidat	ed	Fin	a	ncial R	esults for the qu	arter ended June 3	0, 2021
										Rs. in	lakhs except EPS
									Quarter ended		Year ended
S.No.	Particulars							June 30, 2021 (Unaudited)	March 31, 2021 (Audited) (refer note 5)	June 30, 2020 (Unaudited)	March 31, 2021 (Audited) (refer note 5)
1	Income
	Revenul' from operations							1,34,105	1,15,094	77,125	4,08,228
	Olher income							4,64.1	5,366	2,268	14,336
	Total Income							1,38,746	1,20,460	79,393	4,22,564
2	Expenses
	Cost of materials consumed							86,920	78,021	37,534	2,32,054
	Purd1,1sc of stock-in-trade							-	(0)		1
	01,1ngcs in inventories of finished goods, work-in-provess in-trade			and stock-				(6,584)	(7,985}	3,281	(4,076)
	Employee benefits expense							3,000	3,387	2,493	11,626
	Finance costs							2,598	(2,AflO}	2,671	5,850
	Depreciation and amortisation expense							3,733	3,609	3,452	l4,488
	Other expenses							18,069	17,311	12,365	58,576
	Total Expenses							1,07,736	91,743	61,796	3,18,519
3	Profit before exceptional items and tax							31,010	28,717	17,597	1,04,045
4	Exceptional items gain/ (loss)							.			-
5	Profil/(Loss) before tax							31,010	28,717	17,597	1,04,045
6	Tax expense charge/ (credit)
	Current tax							7,742	6,202	4,722	25,590
	Current tax adjustment relating to earlier years							-	531		('>2h)
	Deferred tax							76	(1,064)	(164)	292
	Total tax							7,818	5,669	4,558	24,956
7	Net Profit/(Loss) for the period							23,192	23,048	13,039	79,089
8	Other comprehensive income
	Items that will maybe reclassified toprofit or loss (net of tax
	thereon)
	-Exchange differences on translating the Financial Statements foreign operations						of	2	(14)		(11)
	Items that will not be reclassified to profit or loss (net of tax thereon)
	- Remeasuremcnts of post employment benefit	obligations						27	54		110
	I otal comprehensive income for the period(Comprising (Loss) and other comprehensive income)				Profit /			23,221	23,088	13,039	79,188
10	Profit/ (Loss) for the period attributable to:
	Owners of the parent							23,192	23,048	n,o:w	79,088
	Non Controlling lnterests
11	Other comprehensive income for the period attributable to:
	Owners of the parent							29	40		99
	Non Controlling Interests
12	Total comprehensive income for the period attributable to:
	Owners of the porcnt							23,221	21,088	13,039	79,[87
	Non Controlling Interests
1'.I	Other equity (excluding revaluation reserve)
14	l',tid up equity shar" capital (Face Value Rs. 10/-	each)						4,J79	4,379	4,379	,u19
1.5 I	Farnings/(1.oss) per equity share of Rs.IO/- Each (Not annualised) /4.-" Basic ,rncl [)ilutc•d l:amings/(1 oss) l'l'r Sh,m' r:;:f • lt/n , - '• _'CJ..l,__.........�r-·' ·- .,.� � Ici 1Nev: ' ,1 ·C'\ _i <=-. ,., I .,;;n �-_ .!,/'							S2,97	52.64	29.78	180.62

Reportable Consolidated Operating Segment Informations

S.No.	Particulars		Quarter ended		Year ended
		June 30, 2021 (Unaudited)	March 31, 2021 (Audited) (refer note 5)	June 30, 2020 (Unaudited)	March 31, 2021 (Audited) (refer note 5)
1	Segment Revenue
	Packaging flms	1,15,547	1,00,612	63,733	3,47,263
	Nonwoven fbrics	18,558	14,483	B392	60,965
	Revenue From Operations	1,34,105	1,15,094	77,125	4,08,228
2	Segment Results*
	Packaging films	26,346	21,131	13,294	81,257
	Nonwoven fabrics	5,919	3,804	6,951	25,746
	Other unallocable income/ (expenses) (net)	1,342	1,1/(|23	2,892
	Profil(Loss) before finance costs and tax	33,607	26,117	20,268	1,09,895
	Less : Finance costs	2,598	(2,600)	2,671	5,850
	Profil(Loss) before tax	31,010	28,717	17,597	1,04,045
3	Segment Assets
	Packaging films	3,34,254	3,00,771	3,11,201	3,00,771
	Nonwoven fabrics	82,637	82,599	82,398	82,599
	Unalloca hie assets	l,22,851	98,398	53,971	98,398
	Total Assets	5,39,742	4,81,768	4,47,570	4,81,768
4	Segment Liabilities
	Packaging films	96,934	88,547	73,390	88,547
	Nonwoven fabrics	14,876	16,558	13,857	16,558
	Unallocable liabilities	l,40,655	1, 12,484	1,61,866	1,12,484
	l otal Liabilities	2,52,465	2,17,589	2,49,113	2,17,589

• mcludmg exceptional Items gam / (loss)

Notes :

• Consolidated Financial Results hds been prepared in accordance with the Indian Accounting Standards (" Ind AS") prescribed under section 133 of the Companies Act 2013 redd with the relevant rules issued thereunder.

• 2 The Consolidated financial Results and Segments were reviewed by the Audit Committee and taken on record al the meeting of the Board of Directors at their respective meetings held on August 14, 2021 and limited of these results has been carried out by the Statutory Auditors of the Company .

• 3 COVID - 19 pandemic has caused serious disru ption on the global economic and business environment. There is uncertainty with regard lo its impact which cannot be reasonably determined at this stage. I lowcver, the Company has evaluated and considered to the extent possible the likely impact that may arise from COVID-19 pandemic as well as all event and circumstances upto the date of approval of these Consolidated Financial results on the carrying value of its assets and liabilities as on June 30, 2021. Based on the current indicators of future economic conditions, the Company estimates to recover the carrying amount of these assets and adequate liquidity is available. These estimates arc subject to uncertainty and may be affected by the severity and duration of the pandemic The Company is continuously monitoring any material changes in future economic conditions.

• 4 During the quarter under review, Jindal India ll1crmal Power Limited (herein after referred as "JITPL") (a group company) entered into the requisite definitive agreement(s) in respect of Resolution Plan/ One time Settlement with its lender(s) and is in the process of implementation. !n view of this, the Company is re4uired to assess the impact on its previous Investments in "Jindal India l'owertech Limited" holding company of J ITPL of Rs 65,065 48 Lakhs written off in books of accounts in earlier period. I fence accordingly, on the recommendation of the Audit Committee, Board has appointed Valuer to assess the overall impact in respect of earlier investments based on future financial viability of JITPL Tlw valuation process has been initiated and the financial impact thereof , if, any will be accounted for in the quarter and six months ending September 2021 .

• 5 The figures for the yuarter ended March 31, 2021 arc the balancing figures between audited figures for the full financial figures dnd published y[ear to date fi] gures for the nine months

• 6 !"he figures for the previous periods have been regrouped / rearranged, wherever considered necessary, to confirm current period classifications.

• 7 l"hc' Consolidated results of the Croup arc available for investors at

Place : New Delhi Date : August 14, 2021

By Order of the Board For Jindal Poly Films Limited

SANJEEV SAXENA

Sanjeev Saxena Whole Time Director DIN - 07899506

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Chartered Accountants

==> picture [139 x 31] intentionally omitted <==

Unit No. 1704, 17th Floor, Tower B, World Trade Tower, ONO Flyway, C-01, Sector 16, Noida-201301, Delhi-NCR (India) I Ph:(012012970005 Mob !1205575996 E-mail : newdelhi@singhico.com I Website : w .singhico.com

Draft Independent Auditor's Review Report on unaudited consolidated financial results for the quarter ended June 30, 2021 pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended

To Board of Directors of Jindal Poly Films Limited

We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Jindal Poly Films Limited ('the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended June 30, 2021, ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This Statement, which is the responsibility of the Parent's Management and approved by the Parent'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, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagements (SAE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. 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 issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Based on our review conducted and procedures performed as stated in paragraph 3 above and read with notes to the financial results, nothing has come to our attention that causes us to believe that the accompanying Statement read with notes therein, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Page 1 of 2

MUMBAI

CHENNAI

KOLKATA

l\HMFDABAD

RENGALURL1

Singfi c:l Co. Chattered Accountants

Emphasis of Matter

We draw attention to note no. 4 to attach consolidated financial results regarding assessment and accounting of financial impact on investments in a group company written off in earlier period, in view of resolution plan/ one time settlement by the group company with its lenders.

Our conclusion on the statement is not modified in respect of the above matter.

The Statement includes the results of the following entities,

he Statement includes the results of the following entities,	he Statement includes the results of the following entities,
SI.No. Name of entity Relationship
Jindal Films IndiaLtd. Subsidiary
	Jindal lmaqinq Ltd. Subsidiary
	Jand DSpecialtyFilms PrivateLimited Subsidiary
	Jindal Packaging DMCC, UAE Subsidiary

We did not review the interim financial results of one subsidiary incorporated in India included in the unaudited consolidated quarterly financial results; whose interim financial results reflect total revenue from operation of Rs. 1025.66 Lakhs, total net profit/(loss) after tax of Rs. (31.69) Lakhs and total comprehensive income/(loss) of Rs. (31.69) Lakhs for the quarter ended June 30, 2021. This interim financial result was reviewed by other auditor whose report has been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on report of the other auditor and procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matter.

The unaudited consolidated financial results include the interim financial results of three subsidiaries (including one foreign subsidiary) which have not been reviewed by their auditors, whose interim financial results reflect total revenue from operation of Rs. 13.94 Lakhs, total net profit/(loss) after tax of Rs. (13.15) Lakhs and total comprehensive income/(loss) of Rs. (10.81) Lakhs for the quarter ended June 30, 2021 as considered in the unaudited consolidated financial results. These financial statements were certified by the management of the respective companies. According to the information and explanations given to us by the management, these interim financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

Place: Noida (Delhi - NCR) Date: August 14, 2021

==> picture [76 x 74] intentionally omitted <==

For Singhi & Co. Chartered Accountants Firm Registration No. 302049E

bimal kumar kumar sipani Digitally signed by bimal Date: 2021.08.14 13:24:42 sipani +05'30' Bimal Kumar Sipani Partner Membership No. 088926 UDIN: 21088926AAAALR4262

Page 2 of 2