K.C.P. LTD — Interim / Quarterly Report 2021

Aug 13, 2021

Ref: KCP: CS: SE: RB: 21-22:1308211

August 13, 2021

National Stock Exchange of India Limited(NSE) Scrip: KCP BandraKurla Complex, Bandra (E) Mumbai-400 051

Bombay Stock Exchange Ltd (BSE) Scrip- 590066 Floor No.25, P J Towers Dalal Street, Mumbai 400 001

Dear Sir /Madam,

Sub: Outcome of the Board Meeting and submission of Un-Audited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June 2021.

Ref: Regulation 33 of the SEBI (LODR) Regulations, 2015.

With reference to the above, please find enclosed herewith copy of the Un-Audited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June 2021, which have been approved and taken on record by the Board of Directors at its meeting held today i.e. on 13th August 2021, along with the Limited Review Report of M/ s. K.S. Rao & Co., Chartered Accountants, Hyderabad, the Statutory Auditors of the Company on the same.

The above results will be available on Company's Website at www.kcp.co.in.

The meeting of the Board of Directors commenced at 11.00 a.m and concluded at 13.00 hours.

This is for your information and records.

Thanking You,

Yours faithfully, For THE KCP L1

VIJAYAKUMAR ~

Y. COMPANY SECRETARY & COMPLIANCE OFFICER.

THE KCP LIMITED Registered Office : Ramakrishna Buildings, 2, Dr. P. V. Cherian Crescent, Egmore, Chennai 600 008. INDIA Phone: + 91-44-6677 2600 Fax: + 91-44-6677 2620 E-mail: corporate@kcp.co.in www .kcp.co.in

CIN · L65991TN 1941 PLCOO 1128

THE KCP LIMITED

Registered office: 'Ramakrishna Buildings',

2, Dr P V Cherian Crescent, Egmore, Chennai-600 008, www.kcp.co.in

Cl N :L65991 TN1941 PLC001128.

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE PERIOD ENDED 30TH JUNE 2021

			( Rs In lakhs except per share data)
No			3 MONTHS ENDED		YEAR ENDED
	PARTICULARS	30.06.2021	31.03.2021	30.06.2020	31.03.2021
		Unaudited	Audited	Unaudited	Audited
1	f\EVENUE FROM OPERATIONS	36,557.85	40,907.61	23,752.39	1,30,107.29
2	OIHEil INCOME	1,665.48	186.79	3,080.79	3,591.82
3	TOTAL INCOME	38,223.34	41,094.40	26,833.18	1,33,699.11
4	EXPENSES
	(a COST OF RAW MATERIAL CONSUMED	6,758.49	7,294.44	3,763.76	22,894.57
	(b) PURCHASE OF STOCK IN TRADE	-	-	-
	(c) CHANGE IN INVENTORIES OF FIN ISHED GOODS ,WORK IN PROGRESS ANDSTOCK IN TRADE	(725.40)	1,180.61	2,378.83	4,051.01
	(d) EMPLOYEE BENEFITS EXPENSE	2,585.59	2,442.67	1,743.20	9,281.00
	(e) POWER & FUEL	9,040.93	8,457.08	4,754.75	27,075.15
	(f) FREIGHT AND FORWARDING EXPENSE	8,021.80	8,268.94	4,458.19	24,785.51
	(g) FINANCE COST	883.14	709.03	1,246.20	4,241.50
	(h) DEPRECIATION AND AMORTISATION EXPENSE	1,638.89	1,692.32	1,741.08	6,942.15
	(i) OTHER EXPENDITURE	3,416.76	4,413.44	1,717.09	12,200.96
	TOTAL EXPENSES	31,620.21	34,458.53	21,803.11	1,11,471.86
5	PROFIT/(LOSS) BEFORE EXCEPTIONAL ITEMS AND TAX (3-4)	6,603.12	6,635.86	5,030.0&	22,227.25
6	EXCEPTIONAL ITEMS	-	-	-	551.73
7	PROFIT/(LOSS) BEFORE TAX (5-6)	6,603.12	6,635.86	5,030.06	21,675.52
8	TAX EXPENSE
	(a) CURRENT TAX	1,529.50	565.08	382.64	2,018.87
	(b) DEFERRED TAX	(403.75)	1,184.78	859.49	4,324.50
9	PROFIT/(LOSS) FOR THE PERIOD FROM CONTINUING OPERATIONS (7-8)	5,477.38	4,886.00	3,787.94	15,332.15
10	PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS		-	-	-
11	TAX EXPENSE OF DISCONTI NUED OPERATIONS	-	-	-	-
12	PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS (10-11)	-	-	-	-
13	PROFIT/(LOSS) FOR THE PERIOD (9+12)	5,477.38	4,886.00	3,787.94	15,332.15
14	OTHER COMPREHENSIVE INCOME
	(I) ITEMS THAT WILL NOT BE RECLASSIFIED TO P&L	(53.79)	(41.18)	187.32	100.41
15	TOTAL COMPREHENSIVE INCOME (13+14)	5,423.58	4,844.82	3,975.26	15,432.56
16	EARNINGS PER SHARE (EPS) (FOR CONTINUING OPERATIONS) (Basic and Diluted)	4.25	3.79	2.94	11.89
17	EARNINGS PER SHARE (EPS) (FOR DISCONTINUED OPERATIONS) (Basic and Diluted)	0.00	0.00	0.00	0.00
18	EARNINGS PER SHARE (EPS) (FOR DISCONTINUED & CONTINUING OPERATIONS)(Basic and Diluted)	4.25	3.79	2.94	11.89

Explanatory Notes :

(a) The financial results of the Company have been prepared in accordance with the Indian Accounting standards (IND AS) as prescribed under section 133 ofThe Companies Act 2013 read with the Companies (Indian Accounting Stadard) Rules 2015 (as amended).

(b) The tlgures for the Quarter ended 31.03.2021 for Standalone Operations are the balancing figures between audited figures in respect of full financial year upto 31st March,2021 and unaudited year-to-date figures upto the third quarter ended 31st December, 2020.

• (c) The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 13th August 2021 and statutory auditors have carried out limited review.
• (d) Employee Benefit Expense for the quarter ended 30.06.2021 includes an amount of Rs.2.98 crores being the past service cost arising out of changes made in Salary structure.
• (e) Other income in the current year includes dividend receipts of Rs.14.93 crores (Previous Year: Rs.30.28 crores) from the Subsidiary.
• (f) Current Tax for the quarter ended 30.06.2021 is after considering an amount of Rs.4.50 crores being the MAT Credit Entitlement of earlier year.
• (g) The company has considered the possible effects that may result from the COVID -19 pandemic on the carrying amounts of Property, Plant and Equipment and Receivables. In assessing the recoverability of the assets, the company has considered the internal and external sources of information available at the time of approval of the financial statements for the quarter ended 30th June, 2021 and is of view that the carrying amount of the assets will be realised . The impact of COVID-19 on the company's financial results may differ from the estimate as at the date of approval of these financial results and would be recognised prospectively.
• (h)

The KCP Limited (Standalone)

REVENUE, RESULTS, ASSETS AND LIABILITIES - BY SEGMENT

		(Rs in lakhs)
			3 MONTHS ENDED		YEAR ENDED
No	Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
		Unaudited	Audited	Unaudited	Audited
	1 Revenue (Net Sale I Income
	from each segment )
a	Heavy Engineering	1,059.92	3,162.50	640.77	8,902.88
b	Cement	34,932.52	37,158.68	23,035.62	1,20,003.65
c	Power	2,228.92	3,191.34	1,395.61	9,121.27
d	Hotel	148.76	248.79	26.47	572.74
e	Others I Unallocated	230.07	200.15	42.35	459.21
	Total	38,600.19	43,961.46	25,140.82	1,39,059.74
	Less: Inter segment Revenue	2,042.34	3,053.85	1,388.43	8,952.45
	Net Sales I Income from Operations	36,557.85	40,907.61	23,752.39	1,30,107.29
	2 Results
	(Profit(+) I Loss(-) before tax and
	Interest from each segment
	Heavy Engineering	(588.28)	(173.40)	(613.67)	(957.27)
ab	Cement	6,756.84	6,917.84	4,282.41	23,673.70
c	Power	132.70	734.86	(167.59)	970.88
d	Hotel	(198.37)	(181.75)	(319.17)	(955.95)
e	Others I Unallocated	(4.55)	(0.19)	(6.34)	(7.79)
f	Other unallocable expenditure(-) net of	1,147.88	(149.40)	3,029.38	2,677.14
	unallocable Income(+)
	Total	7,246.22	7,147.96	6,205.02	25,400.72
	Less:
	Interest expenses	883.14	709.03	1,246.20	4,241.50
	Interest income	(240.04)	(196.93)	(71.25)	(516.30)
	Total Profit Before Tax	6,603.12	6,635.86	5,030.06	21,675.52
	3 Assets
a	Heavy Engineering	11,955.06	11,458.38	12,916.37	11,458.38
b	Cement	84,600.01	83,898.87	85,276.10	83,898.87
c	Power	11,386.33	11,802.72	12,975.57	11,802.72
d	Hotel	7,613.21	7,758.33	8,633.77	7,758.33
e	Others I Unallocated	24,264.00	24,421.84	10,861.27	24,421.84
	Total	1,39,818.62	1,39,340.14	1,30,663.08	1,39,340.14
	4 liabilities
a	Heavy Engineering	5,535.55	5,372.15	9,750.95	5,372.15
b	Cement	42,942.81	47,201.01	46,716.08	47,201.01
c	Power	3,708.89	3,796.88	4,697.98	3,796.88
d	Hotel	178.04	1,032.58	1,937.34	1,032.58
e	Others I Unallocated	20,090.28	19,998.03	16,885.17	19,998.03
	Total	72,455.56	77,400A{~ C.P:	-87 .52	77,400.65

;' . . EGMORE ..- Notes on segment mformatton:- CHENNAI·B I 1) Operating segment is business activity for which operationg results are regular! ~ ·ewed b Chief operationg decision maker to make decisions about resource allocation and performance measurement. · C,tERI" 'V~ -

THE KCP LIMITED

Registered office: 'Ramakrishna Buildings',

2, Dr P V Cherian Crescent, Egmore, Chennai-600 008, www.kcp.co.in

Cl N: L65991 TN 1941 PLC001128.

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE PERIOD ENDED 30TH JUNE 2021

			( Rs In IRkhs except per sh•re datal
No		3 MONTHS ENDED			YEAR ENDED
	PARTICULARS	30.06.2021	31.03.2021	30.06.2020	31.03.2021
		Unaudited	Audited	Unaudited	AudW,d
1	REVENUE FROM OPERATIONS	54,804.73	53,154.17	34,615.86	1,71,374.56
2	OTHER INCOME	178.15	193.27	55.78	560.79
3	TOTAL INCOME	54,982.88	53,347.44	34,671.64	1,71,935.35
4	EXPENSES
	(a COST OF RAW MATERIAL CONSUMED	21,601.07	19,802.64	13,920.86	45,845.67
	(b) PURCHASE OF STOCK IN TRADE	-	-		-
	(c) CHANGE IN INVENTORIES OF FINISHED GOODS ,WORK IN PROGRESS AND	(5,106.76)	(4,990.76)	(3,018.14)	4,307.96
	STOCK IN TRADE
	(d) EMPLOYEE BENEFITS EXPENSE	3,212.71	3,021.14	2,297.41	11,663.63
	(e) POWER & FUEL	9,586.57	8,233.95	6,061.42	30,962.95
	(f) FREIGHT AND FORWARDING EXPENSE	8,388.45	8,505.83	4,911.37	25,945.01
	(g) FINANCE COST	1,027.87	748.54	1,388.89	4,636.97
	(h) DEPRECIATION AND AMORTISATION EXPENSE	2,198.23	2,242.46	2,304.75	9,171.01
	(I) OTHER EXPENDITURE	3,991.75	4,837.59	2,141.37	13,630.07
	TOTAL EXPENSES	44,899.90	42,401.39	30,007.93	1,46,163.27
5	PROFIT/(LOSS) BEFORE EXCEPTIONAL ITEMS AND TAX (3-4)	10,082.98	10,946.05	4,663.71	25,772.08
6	EXCEPTIONAL ITEMS	-	-	-	551,73
7	PROFIT/(LOSS) BEFORE TAX (5·6)	10,082.98	10,946.05	4,663.71	25,220.35
8	TAX EXPENSE
	(a) CURRENT TAX	1,529.50	565.08	382.64	2,018.87
	(b) DEFERRED TAX	(403.75)	1,184.78	859.49	4,324.50
9	PROFIT/(LOSS) FOR THE PERIOD FROM CONTINUING OPERATIONS (7-8)	8,957.23	9,196.19	3,421.58	18,876.98
10	PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS	-	-		-
11	TAX EXPENSE OF DISCONTINUED OPERATIONS			-
12	PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS (10-11)		-	-
13	PROFIT/(LOSS) FOR THE PERIOD (9+12)	8,957.23	9,196.19	3,421.58	18,876.98
14	SHARE OF PROFIT/(LOSS) FROM JOINT VENTURE	(14.20)	(238.45)	(54.77)	(380.58)
15	PROFIT/(LOSS) AFTER TAX AND SHARE OF JOINT VENTURE	8,943.03	8,957.74	3,366.81	18,496.40
			1,436.73	887.22	2,197.61
	NON-CONTROLLING INTEREST	1,657.82
	OWNERS OF THE COMPANY	7,285.21	7,521.01	2,479.59	16,298.79
16	OTHER COMPREHENSIVE INCOME
	(i) ITEMS THAT WILL NOT BE RECLASSIFIED TO P&L	787.40	(285.34)	935.82	(680.66)
	(ii) SHARE OF OCI FROM JOINT VENTURE	7.03	4.41	20.25	13.67
	(iii) LESS : NON CONTROLLING SHARE OF OCI	277.20	(86.96)	253.64	(291.39)
	OCI AFTER NON COTROLLING INTEREST	517.23	(l93.98)	702.44	(375.61)
17	TOTAL COMPREHENSIVE INCOME (15+16)	9,737.47	8,676.80	4,322.89	17,829.40
	NON-CONTROLLING INTEREST	1,935.02	1,349.77	1,140.86	1,906.22
	OWNERS OF THE COMPANY	7,802.44	7,327.03	3,182.03	15,923.18
18	EARNINGS PER SHARE (EPS) (FOR CONTINUING OPERATIONS) (Basic and Diluted)	5.65	5.83	1.92	12.64
19	EARNINGS PER SHARE (EPS) (FOR DISCONTINUED OPERATIONS) (Basic and Diluted)	0.00	0.00	0.00	0.00
20	EARNINGS PER SHARE (EPS) (FOR DISCONTINUED & CONTINUING OPERATIONS)(Basic and Diluted)	5.65	5.83	1.92	12.64

Explanatory Notes :

(a) The financial results of the Company have been prepared in accordance with the Indian Accounting standards (IND AS) as prescribed under section 133 of The Companies Act 2013 read with the Companies (Indian Accounting Stadard) Rules 2015 (as amended).

(b) The figures for the Quarter ended 31.03.2021 for Standalone Operations are the balancing figures between audited figures in respect of full financial year upto 31st March,2021 and unaudited year-to-date figures upto the third quarter ended 31st December, 2020.

• (c) The consolidated financial results includes the results of (i) KCP Vietnam Industries Limited (subsidiary company) in vietnam and (ii) Fives Call KCP Limited (Joint Venture company). Subsidiary is engaged in manufacturing sugar which is seasonal in nature and season normally takes place in January-May period in vietnam. Hence financials from quarter to quarter may not be comparable.
• (d) The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 13th August 2021 and statutory auditors have carried out limited review.
• (e) Employee Benefit Expense for the quarter ended 30.06.2021 includes an amount of Rs.2.98 crores being the past service cost arising out of changes made in Salary structure.

If) Current Tax for the quarter ended 30.06.2021 is after considering an amount of Rs.4.50 crores being the MAT Credit Entitlement of earlier year.

• (g) The company has considered the possible effects that may result from the COVID -19 pandemic on the carrying amounts of Property, Plant and Equipment and Receivables. In assessing the recoverability of the assets, the company has considered the internal and external sources of information available at the time of approval of the financial statements for the quarter ended 30th June, 2021 and is of view that the carrying amount of the assets will be realised. The impact of COVID-19 on the company's financial results may differ from the estimate as at the date of approval of these financial results and would be recognised prospectively.
• (h) Figures for the previous period have been regrouped/reclassified wherever necessary to conform to the current periods presentation.

Place : Chennai - 600 008 Date : 13th August, 2021

The KCP Limited (Consolidated)

REVENUE, RESULTS, ASSETS AND LIABILITIES -BY SEGMENT

The Group has reported segment information as per IND AS 108 "Operating segments" Read with regulation 33 of the SEBI {Listing Obligations and Disclosure requirements) regulations 2015 as amended.

		(KS In Lal <ns j<="" th="">
		3 MONTHS ENDEDYEAR ENDED
		30.06.2021	31.03.2021	30.06.2020	31.03.2021
Sl No	PARTICULARS	Unaudited	Audited	Unaudited	Audited
	1 Revenue (Net Sale /Income
	from each segment )
a	Heavy Engineering	1,059.92	3,162.50	640.77	8,902.88
b	Cement	34,932.52	37,158.68	23,035.62	1,20,003.65
c	Power	4,332 .69	3,191.34	3,215.95	13,313.84
d	Hotel	148.76	248.79	26.47	572.74
e	Sugar	17,454.67	13,283.44	9,524.03	38,614.31
f	Others I Unallocated	230.07	200.15	42.35	459.21
	Total	58,158.63	56,208.02	36,485.19	1,80,829.74
	Less: Inter segment Revenue	3,353.90	4,090.73	1,869.33	10,492.07
	Net Sales I Income from Operations	54,804.73	53,154.17	34,615.86	1,71,374.56
	2 Results
	(Profit(+) /Loss(-) before tax and
	Interest from each segment
a	Heavy Engineering	(588.28)	(173.40)	(613.67)	(957.27)
b	Cement	6,756.84	6,917.84	4,282.41	23,673.70
c	Power	251.64	734.86	(480.48)	(374.18)
d	Hotel	(198.37)	(181.75)	(319.17)	(955.95)
e	Sugar	4,580.43	3,996.46	2,717.15	6,832.02
e	Others I Unallocated	(4.55)	(0.19)	(6.34)	(7.79)
f	Other unallocable expenditure(-) net ofunallocable Income(+)	(345.72)	(149.40)	1.38	(370.86)
	Total	10,451.99	11,144.42	5,581.28	27,839.68
	less:
	Interest expenses	1,027.87	748.54	1,388.89	4,636.97
	Interest income	(658.85)	(550.18)	(471.32)	(2,017.64)
	Total Profit Before Tax	10,082.98	10,946.05	4,663.71	25,220.35
	3 Assets
a				12,916.37	11,458.38
b	Heavy EngineeringCement	11,955.0684,600.01	11,458.3883,898.87	85,276.10	83,898.87
c	Power	21,368.38	22,027.39	23,690.09	22,027.39
d	Hotel	7,613.21	7,758.33	8,633.77	7,758.33
e	Sugar	72,565.76	63,436.60	64,037.52	63,436.60
f	Others I Unallocated	22,463.11	22,628.12	9,419.94	22,628.12
	Total	2,20,565.54	2,11,207.69	2,03,973.79	2,11,207.69
	4 Liabilities
a	Heavy Engineering	5,535.55	5,372.15	9,750.95	5,372.15
b	Cement	42,942.81	47,201.01	46,716.08	47,201.01
c	Power	3,864.59	3,827.98	4,891.75	3,827.98
d	Hotel	178.04	1,032.58	1,937.34	1,032.58
e	Sugar	40,274.92	34,214.26	36,778.60	34,214.26
f	Others I Unallocated	20,090.28	19,998.03	1.622.2.17/.i--n,_	19,998.03
	Total	1,12,886.18	1,11,646.01	~~1\	1,11,646.01

Notes on segment information:- I CHENNAI-8

1. Operating segment is business activity for which operationg results are regularly revl "'. : eratlong decision maker to make decisions about resource allocation and performance measurement. ": C.1f€RI"'~ <.~

(rA J~--------- K.S. RA.O & Co l v~. CHARTEREDACCOUNTANTS

Independent Auditor's Review Report on the Quarterly Unaudited Standalone and year to date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI

(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To

The Board of Directors

The KCP Limited

• 1. We have reviewed the accompanying statement of Standalone Unaudited Financial Results of The KCP Limited ("the Company") for the quarter ended June 30, 2021 (" the Statement") being submitted by the company pursuant to requirements of Regulation 33 of the SEBI (listing Obligations and Disclosure Requirements) Regulations,2015 read with SEBI Circular No.CIR/CFD/FAC/62/20 16 dated July 5,2016.
• 1. This statement which is the responsibility of the Company's Management and has been approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Rep01ting" , prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of Securities and Exchange Board of India (Listing Obligations and disclosure Requirements) Regulations, 2015, as amended, ("Listing Regulations"). Our responsibility is to issue a report on these financial statements based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 241 0 "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 review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion

Contd on page 2

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited fmancial 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 manner in which it is to be disclosed, or that it contains any material misstatement.

for K.S RAO & Co., Chartered Accountants Firm Registration No.0031 09S ~· ~ r. o: v,,~~'! ;t. '3J,..: .. 0 ""S .. (P.GOVARDHANA REDDY) <C'-9Aat>S>

Place: Hyderabad Date: 13.08.2021

Partner Membership No: 029193 UDIN I 0..('11'1'3 .-A K 'Z. b 'tltl/

K.S. R.AO & Co CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on Consolidated Unaudited Quarterly and year to date Financial results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended

To The Board of Directors The KCP Limited

• I. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of The KCP Limited ("the Holding Company") and its subsidiary (the Holding Company and its subsidiary together referred to as "the Group"), and its share of loss after tax and total comprehensive income of its Joint venture for the Quarter ended June 30,2021 ("the Statement"), being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Jnterim 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.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. 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 SEBl 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:
  • a. KCP Vietnam Industries Limited (Subsidiary)(incorporated outside India)
  • b. FIVESCAIL KCP Limited(Joint venture)

Flat No. 601A Golden Green A rt t 1 Phone : (040) ,2337 3399 E -~ak men s, rrum Manzil Colony, Hyderabad - 500 082. . , maJ . sraoandcompany@gmail.com I hydksrao@k . l ocations: Hyderabad I Vijayawada I Chennai I Bengaluru srao.m

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting 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.
• 1. We did not review the interim financial statements of the subsidiary included in the consolidated unaudited financial results, whose interim financial statements reflect total assets of Rs. 82,547.81 Iakhs as at 301 hJune 2021 and total revenues of Rs. 18,253. 14 and total net profit ofRs.4,973.46 lakhs and total comprehensive income of Rs.831.61 Iakhs for the quarter ended June 30, 2021 as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also include the Group's share of net loss after tax of Rs.14.2 lakhs, other comprehensive income ofRs.7.03 lakhs for the quarter ended June 30, 2021 as considered in the consolidated unaudited financial results, in respect of a Joint Venture whose interim financial statements have not been reviewed by us. These interim financial statements have been reviewed by other auditors 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 the subsidiary and joint venture, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our Conclusion on the Statement is not modified in respect of the above matters.

for K.S RAO & Co., Chartered Accountants Firm Registration No.OO •

Place: Hyderabad Date: 13.08.202 1