Jindal Poly Films Ltd. — Interim / Quarterly Report 2021

Feb 12, 2021

OLY ILM �[JINDflL ]

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•

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

February 12, 2021

JPFL/DE-PT/SE/2020-21

The Manager, Listing National Stock Exchange of India Ltd. Exchange Plaza, Bandra- Kurla Complex Bandra (E), MUMBAI - 400 051

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

(Scrip Code: NSE: JINDALPOL Y)

(Scrip Code: BSE: 500227)

Dear Sir/Madam,

Sub: Out Come of the Board Meeting held on Februar 12 2021.

Pursuant to 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 February 12, 2021, has inter­ alia considered and approved the Unaudited Standalone and Consolidated Financial Statements and Limited Review Reports thereon for the Quarter and Nine months Ended December 31,2020 (Enclosed).

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

Further meeting Commenced at 16.00 p.m and Concluded at 17.50 p.m

Kindly bring it to the notice of all concerned.

Thanking You, Yours Truly, For Jindal Poly Films �� Sanjeev Kumar Company Secretary M No.18087

Regd. Office: 19th K.M. Hapur Bulandshahr Road, P.O. Gulaothi, Distt. Bulandshahr (U.P.) CIN : L 17111UP197 4PLC003979

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 and nine months ended December 31, 2020

S. No. Pariculars 1 Income Revenue from operations Other income Total Income 2 Expenses Cost of materials consumed Purchase of stock-in-trade Changes in inventories of finished goods, work-in-progress and stock-intrade Employee benefits expense Finance costs Depreciation and amortisation expense Other expenses Total Expenses 3 Profit/ (Loss) before tax 4 Tax expense charge/ (credit) Current tax Current tax adjustment relating to earlier years Deferred tax Total tax 5 Net Profi1(Loss) for the period 6 Other comprehensive income 7 8 9 10 Items that will not be reclassified to profit or loss (net of tax thereon) - Remeasurements of post employment benefit obligations Total comprehensive income for the period (Comprising Profit/ (Loss) and other comprehensive income) Other Equity (excluding revaluation reserve) Paid up equity share capital ( Face Value Rs. 10/- each) Earnings / (Loss) per equity share of Rs.10/- Each (Not annualised) Basic and Diluted Earnings/ (Loss) per share	Rs in Lakhs e ccpt EPS
	Quarter ended Ninemonth ended Year ended
	31sfDec 2020 30th Sep 2020 31st Dec 2019 (Unaudited) (Unaudited) (Unaudited) r 1,07,409 3,406 il,10,815 58,899 1,362 2,984 3,574 3,708 14,028 84,555 26,260 6,988 (132) 1,211 8,067 18,193 I (13) 18,180 4,379 41.55 1,08,791 97,508 3,021 878 1,11,812 98,386 57,444 60,380 1 (174) 206 2,629 2,556 1,936 2,365 3,582 2,928 14,679 14,313 80,097 82,748 31,715 15,640 7,679 5,537 (1,325) 368 (1,622) 6,722 3,915 24,993 11,725 69 25,062 11,725 4,379 4,379 57.08 26.78 31st Dec 2020 31st Dec 2019 (Unaudited) (Unaudited) 2,92,629 2,63,713 8,166 4,452 3,00,795 2,68,165 1,53,529 1,72,004 1 129 4,510 (783) 8,031 7,518 7;984 4,620 10,674 8,735 40,957 40,932 2,25,694 2,33,155 75,101 35,010 19,389 9,509 (1,457) ,384 (8,454) 19,316 1,055 55,785 33,955 56 (18) 55,841 33,937 4,379 4,379 127.40 77.55 31st Mar 2020 (Audited) 3,53,056 7,313 3,60,369 2,25,986 138 (5,595) 10,432 9,132 11,562 57,248 3,08,903 51,466 12,582 (8,991) 3,591 47,875 96 47,971 1,75,800 4,379 109.33

• Reportable Operating Segment Informations

							Rs in Lakhs
S.No.	Pariculars		Quarter Ended		Nine month ended		Year Ended
		31st Dec 2020	30th Sep 2020	31st Dec 2019	31st Dec 2020	31st Dec 2019	31st Mar 2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1	Segment Revenue
	Packaging films	88,609	94,489	89,950	2,46,135	2,49,476	3,22,675
	Nonwoven fabrics	18,800	14,302	7,558	46,494	14,237	30,381
	Revenue from operations	1,07,409	1,08,791	97,508	2,92,629	2,63,713	3,53,056
2	Segment Results
	Packaging films	20,511	26,211	17,005	59,737	35,228	51,820
	Nonwoven fabrics	8,530	6,462	1,516	21,943	2,544	4,769
	Other unallocable income/(expenses) (net)	793	978	(516)	1,405	1,858	4,009
	Profil(Loss) before finance costs and tax	29,834	33,651	18,005	83,085	39,630	60,598
	Less : Finance costs	3,574	1,936	2,365	7,984	4,620	9,132
	Profif(Loss) before tax	26,260	31,715	15,640	75,101	35,010	51,466
3	Segment Assets
	Packaging films	2,89,235	2,83,448	2,64,064	2,89,235	2,64,064	3,01,119
	Nonwoven fabrics	78,812	81,192	73,431	78,812	73,431	80,D20
	Unallocable assets	70,605	52,782	53,281	70,605	53,281	48,821
	Total Assets	4,38,652	4,17,422	3,90,776	4,38,652	3,90,776	4,29,960
4	Segment Liabilities
	Packaging films	80,273	67,829	66,144	80,273	66,144	69,380
	Nonwoven fabrics	13,048	15,010	11,928	13,048	11,928	20,159
	Unallocable liabilities	1,09,748	1,16,748	1,46,558	1,09,748	1,46,558	1,60,242
	Total Liabilities	2,03,069	1,99,587	2,24,630	2,03,069	2,24,630	2,49,781

Notes:

• 1 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.

• 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

• 2 respective meetings held on 12th February, 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.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 Financial results on the carrying value of its assets and liabilities as on 31st Dec'2020. 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. The Company will continue to monitor any material changes in future economic conditions and the consequent impact on its business if any, and make necessary adjustments in the relevant financial period.

• 4 Figures for the previous quarters/period have been regrouped /rearranged wherever required, to make them comparable.

Place : New Delhi

• Date : 12th February,2021

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By Order of the Board
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Cha,tered Accountants

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Independent Auditor's Review Report on Quarterly and nine months ended Unaudited Financial Results 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 Ltd.

1. We have reviewed the accompanying statement of unaudited financial results ("the Statement") of Jindal Poly Films Ltd. ('the Company") for the quarter and nine months ended December 31, 2020. 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.

2. 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 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.

3. Based on our review conducted as above, 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 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.

Place: Noida (Delhi - NCR) Date: February 12, 2021

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

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�umar Sipani Partner Membership No. 088926 UDIN: 2.IOtW92..6AAAACM[c_;3g� ]

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JINDAL POLY FILMS LIMITED

CIN :- L17111UP1974PLC003979

Regd. Office: 19th K.M., Hapur Bulandshahr Road, P.O. Gulaothi, Bulandshahr (U.I'.) Statement Of Unaudited Consolidated Financial Results for the quarter and nine months ended December 31, 2020

S.No. 1 2 3 •I 5 6 8 9 10 II 12 13 Rs in Lakhs except EPS Quarer ended Nine month ended Year ended Particulars 31st Dec 2020 30th Sep 2020 31st Dec 2019 31st Dec 2020 31st Dec 2019 31stMar2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Income Re,•muc from operation, 1,06,897 1,09,123 97,698 2,93,145 2,66,271 3,54,640 OU1cr income 3,476 3,101 981 8,696 4,487 7,356 Total h1comc 1,10,373 1,12,224 98,679 3,01,841 2,70,758 3,61,996 E,enscs Cost of material� consumed 58,653 57,541 60,327 1,53,728 1,72,484 2,25,472 Purchase of stok-in-lr1tc 0 1 - 1 129 138 01Jngc in inve111orics ol li11ishc goods, work-irl•proves and stok irt-lrarl< 796 152 188 4,229 (340) (5,251) Emplo •ec b nefils cxp,nsc 3,046 2,700 2,627 8,239 7,694 10,061 Fin;rce COSIS 3,612 1,975 2,627 8,103 5,085 9,522 Depredation and amortisation <xpense 3,776 3,651 2,997 10,879 8,941 11,835 IOther expense 14,040 14,923 13,792 41,334 40,494 57,496 Total Epen cs 83,923 80,943 82,558 2,26,513 2,34,487 3,09,273 l'rofit( to ·s) before t,,x 26,450 31,281 16,120 75,328 36,271 52,723 Tax expense charge/(credit) . Current tax 6,988 7,678 5,757 19,389 9,875 12,908 Current tax adjuslm 111 relating to earlier ·eM, (132) (1,325) . (1,457) . - Dcfcrr d lax (127) 291 (1,718) 1,356 (8,542) (9,049) Total ta, 6,729 6,645 4,039 19,288 1,333 3,859 INcl l'rofi!/(1.oss) for lhc period 19,721 24,636 12,081 56,040 34,938 48,864 Other comprehensive income Items thal will may be rcclas ified lo profll or los(net of tax thereon) -l;xtlumgc dlffcrcnccs on transl, tinr, the l'lnandallalcmenls of foreign operations - 3 - 3 . (2) hems that will not be reclassified lo profit or-loss (net of tax I hereon) - l(c,mcasmcm<:nls of psl cmplo mcnl bncm obllgal!on. (13) 69 - 56 (18) 98 Total comprehensive income for the perod ( omprising l'rofi!/(Loss) and olher comprehensh•e income) 19,708 24,708 12,081 56,099 34,920 48,960 rrofh / (Loss) for the period attributable to: Owner of the parent 19,721 24,636 12,081 56,040 34,938 48,864 onontrollinr lnlCSL� - - . . - . Othcrcomprchcnsivc income for the period attributable 10: Ow11er:s of lhc panml (13) 72 . 59 (18) 96 Non Conlrolling lnhlnls - - . - - - Tot,,1 comprehensive income for the period allributable lo: wners or the pMcm 19,708 24,708 12,081 56,099 34,920 48,960 , on .ontrollinr lnlercsls - . - - Other equily (excluding revaluation resere) 1,81,051 Paid up cquily share capital (Face Value R . 10/- e�chj 4,379 4,379 4,379 4,379 4,379 4,379 Earing!(Loss) per equity share of Rs.10- Each (ot annualised) [&sicanrl Diluted 1,arings/(1.o.�s) Per Share 45.04 56.26 27.59 127.98 79.79 111.60

S.No. 1 2 3 •I 5 6 8 9 10 II 12 13 Rs in Lakhs except EPS Quarer ended Nine month ended Year ended Particulars 31st Dec 2020 30th Sep 2020 31st Dec 2019 31st Dec 2020 31st Dec 2019 31stMar2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Income Re,•muc from operation, 1,06,897 1,09,123 97,698 2,93,145 2,66,271 3,54,640 OU1cr income 3,476 3,101 981 8,696 4,487 7,356 Total h1comc 1,10,373 1,12,224 98,679 3,01,841 2,70,758 3,61,996 E,enscs Cost of material� consumed 58,653 57,541 60,327 1,53,728 1,72,484 2,25,472 Purchase of stok-in-lr1tc 0 1 - 1 129 138 01Jngc in inve111orics ol li11ishc goods, work-irl•proves and stok irt-lrarl< 796 152 188 4,229 (340) (5,251) Emplo •ec b nefils cxp,nsc 3,046 2,700 2,627 8,239 7,694 10,061 Fin;rce COSIS 3,612 1,975 2,627 8,103 5,085 9,522 Depredation and amortisation <xpense 3,776 3,651 2,997 10,879 8,941 11,835 IOther expense 14,040 14,923 13,792 41,334 40,494 57,496 Total Epen cs 83,923 80,943 82,558 2,26,513 2,34,487 3,09,273 l'rofit( to ·s) before t,,x 26,450 31,281 16,120 75,328 36,271 52,723 Tax expense charge/(credit) . Current tax 6,988 7,678 5,757 19,389 9,875 12,908 Current tax adjuslm 111 relating to earlier ·eM, (132) (1,325) . (1,457) . - Dcfcrr d lax (127) 291 (1,718) 1,356 (8,542) (9,049) Total ta, 6,729 6,645 4,039 19,288 1,333 3,859 INcl l'rofi!/(1.oss) for lhc period 19,721 24,636 12,081 56,040 34,938 48,864 Other comprehensive income Items thal will may be rcclas ified lo profll or los(net of tax thereon) -l;xtlumgc dlffcrcnccs on transl, tinr, the l'lnandallalcmenls of foreign operations - 3 - 3 . (2) hems that will not be reclassified lo profit or-loss (net of tax I hereon) - l(c,mcasmcm<:nls of psl cmplo mcnl bncm obllgal!on. (13) 69 - 56 (18) 98 Total comprehensive income for the perod ( omprising l'rofi!/(Loss) and olher comprehensh•e income) 19,708 24,708 12,081 56,099 34,920 48,960 rrofh / (Loss) for the period attributable to: Owner of the parent 19,721 24,636 12,081 56,040 34,938 48,864 onontrollinr lnlCSL� - - . . - . Othcrcomprchcnsivc income for the period attributable 10: Ow11er:s of lhc panml (13) 72 . 59 (18) 96 Non Conlrolling lnhlnls - - . - - - Tot,,1 comprehensive income for the period allributable lo: wners or the pMcm 19,708 24,708 12,081 56,099 34,920 48,960 , on .ontrollinr lnlercsls - . - - Other equily (excluding revaluation resere) 1,81,051 Paid up cquily share capital (Face Value R . 10/- e�chj 4,379 4,379 4,379 4,379 4,379 4,379 Earing!(Loss) per equity share of Rs.10- Each (ot annualised) [&sicanrl Diluted 1,arings/(1.o.�s) Per Share 45.04 56.26 27.59 127.98 79.79 111.60

12 13 Paid up cquily share capital (Face Value R . 10/- e�chj Earing!(Loss) per equity share of Rs.10- Each (ot annualised) [&sicanrl Diluted 1,arings/(1.o.�s) Per Share

4,379 4,379 4,379 45.04 56.26 27.59

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Re[pµ] rtable O[p] erating Segment Informations

**Repµr **	able Operating Segment Informations
							Rs in Lakhs
S.No.	Pariculars		Quarter ended		Nine month ended		Year ended
		31st Dec 2020	30th Sep 2020	31st Dec 2019	31st Dec 2020	31st Dec 2019	31st Mar 2020
		(Unaudited)	(Unaudited)	(Unaudited)	**(Unaudited) **	(Unaudited)	(Audited)
1	Segment Revenue
	Packaging films	88,097	94,820	83,461	2,46,651	2,52,034	3,24,259
	Nonwoven fabrics	18,800	14,302	7,558	46,494	14,237	30,381
	Revenue From Operations	1,06,897	1,09,123	97,698	2,93,145	2,66,271	3,54,640
2	Segment Results
	Packaging films	20,702	25,811	15,353	59,652	37,392	53,386
	Nonwoven fabrics	8,530	6,462	1,516	21,943	2,544	4,769
	Other unallocable income/(expenses) (net) Profit(Loss) before finance costs and tax	830 30,062	983 33,256	1,879 18,748	1,836 83,431	1,420 41,356	4,090 62,245
	Less: Finance costs	3,612	1,975	2,628	8,103	5,085	9,522
	Profit(Loss) before tax	26,450	31,281	16,120	75,328	36,271	52,723
3	Segment Assets
	Packaging films	2,95,905	2,93,579	2,71,112	2,95,905	2,71,112	3,07,888
	Non woven fabrics	78,812	81,192	73,431	78,812	73,431	80,Q20
	Unallocable assets	73,642	51,921	51,505	73,642	51,505	50,444
	Total Assets	4,48,359	4,26,692	3,96,048	4,48,359	3,96,048	4,38,352
4	Segment Liabilities
	Packaging films	81,498	71,547	66,938	81,498	66,938	72,259
	Nonwoven fabrics	13,048	15,010	11,928	13,048	11,928	20,159
	Unallocable liabilities	1,12,661	1,16,963	1,49,587	1, 12,661	1,49,587	1,60,504
	Total Liabilities	2,07,206	2,03,521	2,28,453	2,07,206	2,28,453	2,52,922

Notes:

• Consolidated 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.

• The Consolidated Financial Results and Segments were reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors at their

• 2 respective meetings held on 12th February'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. There is a huge uncertainty with regard to its impact which cannot be reasonably determined at this stage. However, 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 Financial results on the carrying value of its assets and liabilities as on 31st Dec'2020. 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 are 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 Figures for the previous quarters/period have been regrouped /rearranged wherever required, to make them comparable.

Place: New Delhi Date : 12th February, 2021

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By Order of the Board
For Jindal Poly Films Limited
('L� :.
� �" � Sagato Mukerji
Whole Time Director
DIN - 06465901
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Chattered Accountants

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Independent Auditor's Review Report on Unaudited Consolidated Financial Results for the quarter and nine months ended December 31, 2020 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, as amended

To Board of Directors of Jindal Poly Films Limited

1. We have reviewed the accompanying Statement of Consolidated Unaudited 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 and nine months ended December 31, 2020, ("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.

2. 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.

4. 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. 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.

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

S.No.	Name of entity Jindal Films India Ltd. Jindal lmaqing Ltd. J and D Specialty Films Private Limited Jindal Packaging DMCC, UAE Relationship Subsidiary Subsidiary Subsidiary Subsidiary
3

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Chartered Accountants

1. Based on our review conducted and procedures performed as stated in paragraph 3 above, based on the consideration of review reports of other auditors referred in paragraph 6 and based on management certified results referred in paragraph 7 below, 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 (Ind AS) 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.

2. We did not review the interim financial results of one subsidiary included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs. 1,002.89 Lakhs and Rs. 3,864.86 Lakhs, total net profit/(loss) after tax of Rs. 108.13 Lakhs and Rs. 282.76 Lakhs and total comprehensive income of Rs. 108.13 Lakhs and Rs. 282.76 Lakhs for the quarter and nine months ended December 31, 2020 respectively as considered in the consolidated unaudited financial results. These interim financial results were reviewed by other auditor whose reports have 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 the reports of the other auditor and the procedures performed by us as stated in paragraph 3 above.

3. The consolidated unaudited financial results include the unaudited financial results of three subsidiaries (including one foreign subsidiary) which have not been reviewed by their auditors, whose financial results reflect total revenue of Rs. 43.66 Lakhs and Rs. 119.89 Lakhs, total net profit/(loss) after tax of Rs. (6.13) Lakhs and Rs. 0.20 Lakhs and total comprehensive income/(loss) of Rs. 7.32 Lakhs and Rs. 3.50 Lakhs for the quarter and nine months ended December 31, 2020 respectively as considered in the consolidated unaudited 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 financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of matters stated in para 6 & 7 above.

Place: Naida (Delhi - NCR) Date: February 12, 2021

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For Singhi & Co. Chartered Accountants Firm Registration No. 302049E Bimal Kumar Sipani Partner UDIN:.Membership No. 088926 J ') ~~2-�M~~ t--1'?2.B

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