Libas Consumer Products Limited - Audit Report / Information 2021

National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400051

Scrip Symbol – LIBAS Series: EQ

Sub: Outcome for the Board Meeting under the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015

Dear Sir/Madam,

Pursuant to Regulation of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we wish to inform you that the meeting of the Board of Directors of Libas Consumer Products Limited was held on Monday, May 10, 2021 has approved the following business matters. The meeting was started at 07:30 p.m. and concluded at 11:20 p.m.

The Audited Financial Results (Standalone and Consolidated) of the Company for the financial year ended March 31, 2021;

The Statutory Auditors of the Company, M/s. Jain Jagawat Kamdar & Co., Chartered Accountants, have issued an Audit Report on the Audited Financial Results of the Company (Standalone and Consolidated) for the year ended March 31, 2021, with modified opinion.

Recommendation of final dividend of 1% (INR 0.1/- per Equity Share of INR 10/- each of the Company) for approval by the shareholders of the Company. The final dividend, if approved at the Annual General Meeting (the “AGM”) will be paid within the statutory time limits.
Re-appointment of M/s SARK & Associates, Company Secretaries as Secretarial Auditor for FY 2020-21

For & on behalf of Libas Consumer Products Ltd.

==> picture [70 x 49] intentionally omitted <==

==> picture [74 x 64] intentionally omitted <==

Riyaz Eqbal Ahmed Ganji (Whole-time Director) Mumbai (DIN: 02236203) May 10, 2021

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

==> picture [45 x 28] intentionally omitted <==

INDEPENDENT AUDITOR’S REPORT ON AUDIT OF CONSOLIDATED ANNUAL FINANCIAL RESULTS AND REVIEW OF QUARTERLY CONSOLIDATED FINANCIAL RESULTS

To the Members of,

LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWS AS LIBAS DESIGNS LIMITED)

Opinion and Conclusions

We have (a) audited the Consolidated Financial Results (includes the financial information of subsidiary) for year ended March 31, 2021 and (b) reviewed the Consolidated Financial Results for the quarter ended March 31, 2021 (refer ‘Other Matters’ section below), which were subject to limited review by us, both included in the accompanying “Statement of Consolidated Financial Results for the Quarter and Year Ended March 31, 2021” of LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWS AS LIBAS DESIGNS LIMITED) (“the Company”), (“the Statement”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“the Listing Regulations”).

a) Qualified Opinion on Annual Consolidated Financial Results

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditor on the separate financial statement of the subsidiary, the Consolidated Financial Results for the year ended March 31, 2021 :

i. Includes the result of its Wholly Owned Subsidiary - LIBAS DESIGN LLC (Ajman, U.A.E)
ii. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
iii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the “Act”) and other accounting principles generally accepted in India except for the basis mentioned in the “Basis for Qualified Opinion”, of consolidated net profits and total comprehensive income, cash flows and other financial information as at and for the year ended on that date.
b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2021.

H.O.: Office no. 301-302, Poonam Pearl bldg., Opp. New India Colony, Juhu Lane, Andheri (w), Mumbai – 400 058 Phone (O): 022-26203021 * Email : [email protected] Branch : Plot no 71, Samrat Township, Near Samart School , Dumbhal Road, Surat (Gujrat) -395010 Branch : 70, Deepak Bhawan, Itwara Road, Bhopal (MP) – 462001 Branch: E6,Flat No. 902, LakeTown CHSL, Behind State Bank Nagar, Bibwewadi, Pune (MH) - 411037. Branch: House No. 42, Upper Ground, Kiran Vihar, New Delhi-110092

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

==> picture [45 x 28] intentionally omitted <==

With respect to the Consolidated Financial Results for the quarter ended March 31, 2021, based on our review conducted as stated in paragraph (b) of Auditor’s Responsibilities section below, nothing has draw our attention that causes us to believe that the Consolidated Financial Results for the quarter ended March 31, 2021, not prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 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 may contains any material misstatement.

Basis for Qualified Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2021.

Attention is also invited to the note no.’e’ of the Consolidated financial results wherein the undisputed income tax liability of Rs.41.18 Lakhs the for FY 2018-19 and of Rs 6.76 Lakhs for FY 2019-20 are unpaid as at 10[th ] May 2021.
Attention is also invited to the note no ‘i’ of the Consolidated financial results wherein the undisputed tax liability in relation to Professional Tax are unpaid as at March 2021 amounting to Rs. 2.39 Lakhs/-.
As per note “h(a)” of the Consolidated financial result, company has pending litigation under ESIC and amount involved under litigation is amounting to Rs 19.44 Lakhs, same were not provided in the financial statement therefore the profit for the quarter is over stated by Rs. 19.44 Lakhs and current Liabilities were understated by 19.44 Lakhs
Attention is also invited that the company is yet to obtain ODI permission from RBI for investment in foreign subsidiary.

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under Section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those Standards are further described in paragraph (a) of Auditor’s Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“the ICAI”) together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the year ended March 31, 2021 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management’s Responsibilities for the Statement

This Statement which includes the Consolidated Financial Results is the responsibility of the Company’s Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended March 31, 2021 has been compiled from the

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

==> picture [45 x 28] intentionally omitted <==

related audited financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended March 31, 2021 that give a true and fair view of the net profit and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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 the 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 Consolidated Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Consolidated Financial Results, the Board of Directors are responsible for assessing the Company’s ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the financial reporting process of the Company.

Auditor’s Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2021

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the year ended March 31, 2021 as a whole is 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 SAs 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 this Consolidated Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Annual Consolidated Financial Results, 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

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

==> picture [45 x 28] intentionally omitted <==

from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
Conclude on the appropriateness of the Board of Directors’ 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 ability of the Company to continue as a going concern. If we conclude that a 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 up to 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 Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the Annual Consolidated Financial Results of the Company to express an opinion on the Annual Consolidated Financial Results.

Materiality is the magnitude of misstatements in the Annual Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Consolidated Financial Results.

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.

Branch: E6,Flat No. 902, LakeTown CHSL, Behind State Bank Nagar, Bibwewadi, Pune (MH) - 411037. Branch: House No. 42, Upper Ground, Kiran Vihar, New Delhi-110092

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

==> picture [45 x 28] intentionally omitted <==

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.

(b) Review of the Consolidated Financial Results for the quarter ended March 31, 2021

We conducted our review of the Consolidated Financial Results for the quarter ended March 31, 2021 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 ICAI. A review of interim financial information consists of making inquiries, primarily of the Company’s personnel 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 SAs specified under section 143(10) of the Act 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.

Other Matters

On account of the COVID 19 related lockdown and /or restrictions, Management was not able to perform the year end physical verification of inventories. Consequently, we have performed alternative audit procedure to audit existence of inventory as per the guidance provided in SA 501 “Audit Evidence – Specific consideration to Selected Items” which includes roll back procedure and their supporting documents relating to purchase, production and sales and other sufficient audit evidence to issue our opinion on these Consolidated Financial Results.
Due to prevailing COVID condition most of the debtors, creditors and parties whom advance given were not in position to provide the confirmations, the Balances under sundry debtors and sundry creditors, loans and advances and unsecured loans in the company are verified arithmetically from the confirmations taken during previous year, current year balances were subject to confirmations and adjustments
We did not audit the financial statements of subsidiary included in the consolidated Financial Results, whose financial statements reflect total Assets of Rs. 760.67 Lakhs as at March 31, 2021 and total Revenues of Rs. 139.28 Lakhs and Rs. 57.53 Lakhs for the quarter and year ended March 31, 2021 respectively. These financial statements have been audited, as applicable, by other auditors whose reports have been furnished to us by the Management and our opinion and 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 auditors and the procedures performed by us as stated under Auditor's Responsibilities section above.
As stated in Note d. of the Statement, the figures for the corresponding quarter ended March 31, 2021 are the balancing figures between the annual audited figures for the year

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

==> picture [45 x 28] intentionally omitted <==

then ended March 2021 and the year to date figures for the 9 months period ended December 31, 2020. We have not issued a separate limited review report on the results and figures for the quarter ended March 31, 2021. Our report on the Statement is not modified in respect of this matter.

The Statement includes the results for the Quarter ended March 31, 2021 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report on the Statement is not modified in respect of this matter.
Segmental reporting is not applicable for the year under Audit.

==> picture [265 x 139] intentionally omitted <==

UDIN: 21116078AAAADL3104

Date: 10[th] May, 2021

H.O.: Office no. 301-302, Poonam Pearl bldg., Opp. New India Colony, Juhu Lane, Andheri (w), Mumbai – 400 058 Phone (O): 022-26203021 * Email : [email protected]

Branch : Plot no 71, Samrat Township, Near Samart School , Dumbhal Road, Surat (Gujrat) -395010 Branch : 70, Deepak Bhawan, Itwara Road, Bhopal (MP) – 462001 Branch: E6,Flat No. 902, LakeTown CHSL, Behind State Bank Nagar, Bibwewadi, Pune (MH) - 411037. Branch: House No. 42, Upper Ground, Kiran Vihar, New Delhi-110092

Consolidated Balance Sheet as at 31st March 2021 (Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489	Consolidated Balance Sheet as at 31st March 2021 (Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489	Consolidated Balance Sheet as at 31st March 2021 (Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489
Particulars	As at March 31, 2021	As at March 31, 2020
	(Audited)	(Audited)
ASSETS A) Non-current assets Property, Plant and Equipment Right-of-use assets Financial Assets Investments Other Financial Assets Other non - current assets Total Non Current assets B) Current assets Inventories Financial Assets Trade receivables Cash and cash equivalents Other Financial Assets Total Current assets Total Assets EQUITY AND LIABILITIES EQUITY Equity Share Capital Other Equity Total Equity LIABILITIES Non-current liabilities Financial Liabilities Long term Borrowing Other financial liabilities Provisions Deferred Tax Liabilities Total Non-current liabilities Current liabilities Financial Liabilities Borrowings Trade payables Other financial liabilities Provisions Total Current liabilities Total Equity and Liabilities	16,781,108 17,885,028 3,452,602 6,283,540 72,457,327	19,000,431 24,536,226 1,600,000 6,200,709 128,459,097
	116,859,605 226,067,328 237,290,377 63,074,757 12,396,393	179,796,464 253,194,924 164,737,375 43,001,588 8,145,646
	538,828,855	469,079,533
	655,688,460	648,875,998
	122,500,000 251,596,814	122,500,000 264,755,333
	374,096,814	387,255,333
	22,723,479 21,599,986 1,803,393 691,816	- 28,565,679 15,270,736 617,771
	46,818,675	44,454,186
	156,360,789 60,297,170 10,163,654 7,951,358	161,142,127 38,094,703 17,450,298 479,351
	234,772,971	217,166,479
	655,688,460	648,875,998
Date : May 10, 2021 Place: Mumbai	0 For and on behalf of the Board of Director of LIBAS CONSUMER PRODUCTS LIMITED Mr. Riyaz Ganji Whole Time Director DIN : 02236203

LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGN LIMITED) Consolidated Cash Flow Statement for the Year Ended 31ST March, 2021

LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGN LIMITED) Consolidated Cash Flow Statement for the Year Ended 31ST March, 2021	LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGN LIMITED) Consolidated Cash Flow Statement for the Year Ended 31ST March, 2021	LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGN LIMITED) Consolidated Cash Flow Statement for the Year Ended 31ST March, 2021
Particulars	Year Ended	Year Ended
	31-Mar-21	31-Mar-20
Operating activities Profit Before Tax Adjustments to reconcile profit before tax to net cash inflow Depreciation and amortisation expenses Exchange Difference in translating the financial statement of foreign operations Interest Income Dividend Received Extra Ordinary Item Provision for ECL Gratuity Provision Interest Paid (Increase) / Decrease in Trade and Other Receivables (Increase) / Decrease in Inventories (Increase) / Decrease in Other Non-Current Assets (Increase) / Decrease in Other Non-Current Financial Assets (Increase) / Decrease in Other Current Financial Assets Increase / (Decrease) in Trade and Other Payables Increase / (Decrease) in Other Financial Liabilities Di t t id (N t f R f d ) Working capital adjustments :- rec axes pa e o e un s Net cash flow from operating activities Investing activities Dividend Received Proceeds / (Purchase) of Investments Addition in Right of use Asset Purchase of fixed assets Interest received Net cash flow used in investing activities Fi i ti iti nanc ng ac v es Proceeds form issues of Borrowings (Net) Proceeds / Payment of Lease Liability Issue of shares Interest paid Net cash flow from financing activities Increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	(11,887,871) 13,905,276 - (5,405,493) - - - - 23,558,607	49,064,915 17,380,951 2,371,696 - - - 367,043 22,509,920
	20 170 519 , , (72,553,002) 27,127,596 56,106,501 3,924 (4,250,747) 22,202,467 (11,417,118)	91 694 525 , , 13,562,429 (10,741,039) (112,246,327) 2,169,855 7,530,231 7,911,631 (10,512,462)
	37,390,140 (10 000 000) , ,	(10,631,157) (3 342 187) , ,
	27,390,140	(13,973,344)
	- (1,852,602) 3,000,411 (1,288,114) 5,405,493	- 5,000,000 - (1,595,888) -
	5,265,188	3,404,112
	17,942,141 (6,965,693) - (23,558,607)	1,134,516 (330,225) 54,000,000 (22,509,920)
	(12,582,159)	32,294,371
	20,073,169 43,001,588 63,074,757	21,725,139 21,276,449 43,001,588
Components of Cash and Cash Equivalents at the end ofyear
Particulars		As at 31-Mar-2020
Cash on hand Balance with banks	63,074,757	43,001,588 -
Cash and Cash Equivalents(closing)	63,074,757	43,001,588
Note :The cash flow statement has been prepared under the indirect method as set out in Indian Accounting Standard (Ind AS 7) statement of cash flows.
*This is the Cash Flow Statement referred to in our audit report of even date* In terms of our report of even date For and on behalf of the Board of Directors For JAIN JAGAWAT KAMDAR & CO. Chartered Accountants *Firm Regn No. 122530W* *Chandrashekhar Jagawat* Riyaz Ganji Partner Director M N 116078 DIN 07037084 LIBAS CONSUMER PRODUCTS LIMITED em. o. : - Place : Mumbai Place : Mumbai Date : May10,2021 Date : May10,2021

LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED)	LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED)	LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED)	LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED)	LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED)	LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED)	LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED)
(Amount in Rs.) CIN NO. L18101MH2004PLC149489 Consolidated audited Statement of Profit & Loss Account For the Quarter and Year Ended March 31, 2021
		3 Months Ended			Year ended	Year ended
P i l art cu ars		31-03-2021	31-12-2020	31-03-2020	31-03-2021	31-03-2020
		Unaudited	Unaudited	Unaudited	Audited	Audited
I. II III IV V VI VII VIII IX	Revenue from Operations Other Income Total revenue (I + II) Expenses Cost of materials consumed Employee benefits expense Finance costs Depreciation and amortization expense Other expenses Total Expenses Profit/(Loss) before exceptional and extraordinary items and tax (III-IV) Exceptional Items Profit/(Loss) before extraordinary items and tax (V-VI) Extraordinary Items	260,128,255 1,481,020	107,542,132 -	110,042,059 3,580,069	540,807,636 5,405,493	657,955,589 10,665,579
		261,609,275	107,542,132	113,622,128	546,213,129	668,621,167
		86.87 225,985,541 4,642,786 5,428,686 3 727 109 , , 4,105,398	65.21 70,124,705 3,494,859 5,754,152 4 936 662 , , 7,172,334	87.41 96,185,980 5,491,683 10,104,940 14 773 078 , , 10,038,366	80.65 436,180,698 12,199,866 23,558,607 13 905 276 , , 29,063,381	79.08 520,285,333 23,029,799 22,509,920 17 380 951 , , 36,350,249
		243,889,520	91,482,712	136,594,047	514,907,828	619,556,252
		17,719,755 - 17,719,755	16,059,421 - 16,059,421	(22,971,919) - (22,971,919)	31,305,301 (43 193 172) , , (11,887,871)	49,064,915 - 49,064,915
	Profit before tax (VII-VIII)	17,719,755	16,059,421	(22,971,919)	(11,887,871)	49,064,915

X XI XII XIII	Tax expense: (1) Current tax - Provision for Taxation (2) Less: Adjustment for Prior Year Taxation (3) Add: Balance B/F from last Year (4) Deferred tax Net Profit / (Loss) after tax Other Comprehensive Income Items that will not be reclassified into Profit or Loss - Re-measurement gains / (Loss) on defined benefits plans - income Tax effect on above Items that will be reclassified to Profit or Loss Exchange Difference in translating the financial statement of foreign operations Total Comprehensive Income for the year (after tax) Earning per equity share: (1) Basic (2)Diluted	- - - (95,600)	- - - (105,800)	- - - 122,558	- - - (222,955)	676 200 , - - 122,558
		(95,600) 17,815,355 - - - 17,815,355	(105,800) 16,165,221 - - - 16,165,221	122,558 (23,094,477) 282,922 (70,731) - (22,882,286)	-222,955 (11,664,916) - - - (11,664,916)	798,758 48,266,157 282,922 (70,731) 2,371,696 50,850,045
		1.45 1.45	1.32 1.32	(1.89) (1.89)	(0.95) (0.95)	4.23 4.23


a.	The aforesaid results were reviewed by the audit committee of the board and subsequently taken on record by the board of directors of the Company at their meeting held on 10th May, 2021.
b.	The Company's business activity falls in single primery segment viz Trading of Fashion Lifestyle Products therefore disclosure requirement under AS 17 - Segment Reporting are not applicable.
c.	I i f th t t id i l kd / t i ti d b th St t G t t t l th d f COVID 19 th C ’ b i n v ew o e s a ew e var ous oc own res r c ons announce y e a e overnmen o con ro e sprea o - , e ompany s us ness operations were temporarily disrupted. The Company has resumed operations in a phased manner as per government directives. The Management has considered the possible effects, if any, that may result from the pandemic on the carrying amounts of current assets after considering internal and external sources of information including the possible future uncertainties in the global economic conditions as at the date of approval of these financial results. Given the uncertainties associated with pandemic's nature and duration, the actuals may differ from the estimates considered in these financial results. The Company continues to closely monitor the rapidly changing situation.
d.	The figures of current quarter year ended 31st March 2021 is balancing figures between the unaudited figures in respect of the financial year ended March 2021 and published year to date figures up to 9 months ended December 31, 2020, which were subjected to limited review.
e.	Undisputed tax liability of Income tax for FY 2018-19 is outstanding as at 10th May, 2021 Rs. 37.50 Lakhs plus interest as applicable and fir FY 2019-20 is outstanding of Rs 6.76 Lakhs
f.	The undisputed tax liability in relation to profession tax was not paid by the company for the FY 2018-19 and 2019-20 and till March 2021 amounting to Rs. 2.39 Lakhs.
g.	The Contingent liability includes the results of outcome of following cases filed against Company:- a) - Case No. ESI No. 28 of 2013 filed in the Hon’ble Employees Insurance Court, Mumbai by ESIC for recovery of Rs. 7,84,838/-. Company got the recovery stayed through Hon’ble Employees Insurance Court. Employees State Insurance Corporation filed the case alleging that the stay orders are obtained by suppressing or misrepresenting the material facts to obtain orders and hence to award punishment in accordance with law. Application is at the stage of Evidence . - Case No. 267/SW/2012 filed for non-payment of contribution for the period February 2007 to December 2011 of Rs. 11,59,373/-. - Case No. 2512447/2012 filed for non-submission of Return of contribution from April 2006 to September 2011 in due dates i.e. within 42 days from the expiry of contribution period. Both the cases were filed on October 10, 2012 in Sewree Court, Company has attending the case. The said cases are also pending in E.I. Court Bandra, Mumbai at final stage. The Company has filed the Arbitration against G.S. Majestic Developers Pvt Ltd for Rs 6,98,95,800/- in the High Court Mumbai on 30.11.2017 and the case no ARBAPL/1007/2017, The High Court has been appointed Justice Rohan Savant for hearing, the case has been still pending.
h.	The Statutory auditor of the Company have carried out "Limited review" on the above results as required under Regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulation 2015 and SEBI Circular dated July 5, 2016.
i.	There are no investor complains received / pending as on 31st March, 2021
j.	Consolidate Financial Results inculdes financial result of following subsidary; - LIBAS DESIGN LLC (Ajman, U.A.E) Audited by ACPA Nitendra Chaturvedi M - 1927 On behalf of Husain Al Hashmi.
For and on behalf of the Board of Director of LIBAS CONSUMER PRODUCTS LIMITED Mr. Riyaz Ganji Date : May 10, 2021 Whole Time Director Place: Mumbai DIN : 02236203

==> picture [45 x 28] intentionally omitted <==

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

INDEPENDENT AUDITOR’S REPORT ON AUDIT OF STANDALONE ANNUAL FINANCIAL RESULTS AND REVIEW OF QUARTERLY STANDALONE FINANCIAL RESULTS

To the Members of,

LIBAS CONSUMERS PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESINS LIMITED)

Opinion and Conclusions

We have (a) audited the Standalone Financial Results for year ended March 31, 2021 and (b) reviewed the Standalone Financial Results for the quarter ended March 31, 2021 (refer ‘Other Matters’ section below), which were subject to limited review by us, both included in the accompanying “Statement of Standalone Financial Results for the Quarter and Year Ended March 31, 2021” of LIBAS CONSUMERS PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESINS LIMITED) (“the Company”), (“the Statement”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“the Listing Regulations”).

a) Qualified Opinion on Annual Standalone Financial Results

In our opinion and to the best of our information and according to the explanations given to us, the standalone Financial Results for the year ended March 31, 2021:

i. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; and
ii. it gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the “Act”) and other accounting principles generally accepted in India except for the basis mentioned in the “Basis for Qualified Opinion”, of net profits and other comprehensive income, cash flows and other financial information as at and for the year ended on that date.

b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2021.

With respect to the standalone Financial Results for the quarter ended March 31, 2021, based on our review conducted as stated in paragraph (b) of Auditor’s Responsibilities section below, except for the information mentioned in the “Basis for Qualified Opinion” paragraph nothing has observed which has draw our attention that causes us to believe that the standalone Financial Results for the quarter ended March 31, 2021, is not prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information

==> picture [45 x 28] intentionally omitted <==

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

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 may contains any material misstatement.

Basis for Qualified Opinion on the Audited Standalone Financial Results for the year ended March 31, 2021.

Attention is also invited to the note no. ‘e’ of the standalone financial results wherein the undisputed income tax liability of Rs.41.18 Lakhs the for FY 2018-19 and of Rs 6.76 Lakhs for FY 2019-20 are unpaid as at 10[th ] May 2021.
Attention is also invited to the note no ‘i’ of the standalone financial results wherein the undisputed tax liability in relation to Professional Tax were unpaid as at March 2021 amounting to Rs. 2.39 Lakhs
As per note ‘h(a)’ of the standalone financial result, company has pending litigation under ESIC and amount involved under litigation is amounting to Rs 19.44 Lakhs, same were not provided in the financial statement, the quarterly profit is over stated by Rs. 19.44 Lakhs and Liabilities are understated by 19.44 Lakhs.
Attention is also invited that the company is yet to obtain ODI permission from RBI for investment in foreign subsidiary

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under Section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those Standards are further described in paragraph (a) of Auditor’s Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“the ICAI”) together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2021 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management’s Responsibilities for the Statement

This Statement which includes the Standalone Financial Results is the responsibility of the Company’s Board of Directors and has been approved by them for the issuance. The Standalone Financial Results for the year ended March 31, 2021 has been compiled from the related audited financial statements. This responsibility includes the preparation and presentation of the Standalone Financial Results for the quarter and year ended March 31, 2021 that give a true and fair view of the net profit and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This

==> picture [45 x 28] intentionally omitted <==

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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 the 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 Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Results, the Board of Directors are responsible for assessing the Company’s ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the financial reporting process of the Company.

Auditor’s Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2021

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results for the year ended March 31, 2021 as a whole is 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 SAs 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 this Standalone Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Annual Standalone Financial Results, 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 may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.

H.O.: Office no. 301-302, Poonam Pearl bldg., Opp. New India Colony, Juhu Lane, Andheri (w), Mumbai – 400 058 Phone (O): 022-26203021 * Email : [email protected] Branch : Plot no 71, Samrat Township, Near Samart School , Dumbhal Road, Surat (Gujrat) -395010 Branch : 70, Deepak Bhawan, Itwara Road, Bhopal (MP) – 462001 Branch: E6,Flat No. 902, LakeTown CHSL, Behind State Bank Nagar, Bibwewadi, Pune (MH) - 411037. Branch: House No. 42, Upper Ground, Kiran Vihar, New Delhi-110092

==> picture [45 x 28] intentionally omitted <==

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
Conclude on the appropriateness of the Board of Directors’ 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 ability of the Company to continue as a going concern. If we conclude that a 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 up to 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 Annual Standalone Financial Results, including the disclosures, and whether the Annual Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Results of the Company to express an opinion on the Annual Standalone Financial Results.

Materiality is the magnitude of misstatements in the Annual Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Standalone Financial Results.

(b) Review of the Standalone Financial Results for the quarter ended March 31, 2021

We conducted our review of the Standalone Financial Results for the quarter ended March 31, 2021 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 ICAI. A review of interim financial information consists of making inquiries,

==> picture [45 x 28] intentionally omitted <==

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

primarily of the Company’s personnel 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 SAs specified under section 143(10) of the Act 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.

Other Matters

On account of the COVID 19 related lockdown and/or restrictions, Management was not able to perform the year end physical verification of inventories. Consequently, we have performed alternative audit procedure to audit existence of inventory as per the guidance provided in SA 501 “Audit Evidence – Specific consideration to Selected Items” which includes roll back procedure and their supporting documents relating to purchase, production and sales and other sufficient audit evidence to issue our opinion on these Standalone Financial Results.
Due to prevailing COVID condition most of the debtors, creditors and parties whom advance given were not in position to provide the confirmations, the Balances under sundry debtors and sundry creditors, loans and advances and unsecured loans in the company are verified arithmetically from the confirmations taken during previous year, current year balances were subject to confirmations and adjustments.
As stated in Note d. of the Statement, the figures for the corresponding quarter ended March 31, 2021 are the balancing figures between the annual audited figures for the year then ended March 2021 and the year-to-date figures for the 9 months period ended December 31, 2020. We have not issued a separate limited review report on the results and figures for the quarter ended March 31, 2021. Our report on the Statement is not modified in respect of this matter.
The Statement includes the results for the Quarter ended March 31, 2021 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report on the Statement is not modified in respect of this matter.
Segmental reporting is not applicable for the year under Audit.

==> picture [259 x 135] intentionally omitted <==

UDIN: 21116078AAAADK4244 Date: 10[th] May, 2021

H.O.: Office no. 301-302, Poonam Pearl bldg., Opp. New India Colony, Juhu Lane, Andheri (w), Mumbai – 400 058 Phone (O): 022-26203021 * Email : [email protected]

Branch : Plot no 71, Samrat Township, Near Samart School , Dumbhal Road, Surat (Gujrat) -395010 Branch : 70, Deepak Bhawan, Itwara Road, Bhopal (MP) – 462001

Branch: E6,Flat No. 902, LakeTown CHSL, Behind State Bank Nagar, Bibwewadi, Pune (MH) - 411037. Branch: House No. 42, Upper Ground, Kiran Vihar, New Delhi-110092

==> picture [44 x 28] intentionally omitted <==

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489

Stanalone Balance Sheet as at 31st March 2021

Stanalone Balance Sheet as at 31st March 2021
	(Amount in Rs.)
Particulars	As at March 31, 2021	As at March 31, 2020
	(Unaudited)	(Audited)
ASSETS A) Non-current assets Property, Plant and Equipment Right-of-use assets Financial Assets Investments Other Financial Assets Other non - current assets Total Non Current assets B) Current assets Inventories Financial Assets Trade receivables Cash and cash equivalents Other Financial Assets Total Current assets Total Assets EQUITY AND LIABILITIES EQUITY Equity Share Capital Other Equity Total Equity LIABILITIES Non-current liabilities Financial Liabilities Long term Borrowing Other financial liabilities Provisions Deferred Tax Liabilities Total Non-current liabilities Current liabilities Financial Liabilities Borrowings Trade payables Other financial liabilities Provisions Total Current liabilities Total Equity and Liabilities	16,781,108 17,885,028 6,174,116 6,283,540 72,457,327	19,000,431 24,536,226 7,674,116 6,200,709 128,459,097
	119,581,119 209,996,552 197,648,524 55,116,961 -	185,870,580 234,225,343 124,660,775 32,956,712 -
	462,762,037	391,842,830
	582,343,156	577,713,410
	122,500,000 179,034,055	122,500,000 195,826,849
	301,534,055	318,326,849
	22,723,479 21,599,986 1,803,393 691,816	- 28,565,679 15,270,736 617,771
	46,818,675	44,454,186
	156,360,789 59,563,834 10,114,446 7,951,358	161,142,127 36,262,835 17,048,063 479,351
	233,990,426	214,932,376
	582,343,156	577,713,410

For and on behalf of the Board of Director of LIBAS CONSUMER PRODUCTS LIMITED

Date : May 10, 2021 Place: Mumbai

==> picture [49 x 34] intentionally omitted <==

Mr. Riyaz Ganji Whole Time Director DIN : 02236203

==> picture [74 x 63] intentionally omitted <==

LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGN LIMITED) Standalone Cash Flow Statement for the half Year Ended 31ST MARCH, 2021

Particulars	Year Ended	Year Ended
	31-Mar-21	31-Mar-20
Operating activities Profit Before Tax Adj t t t il fit b f t t t h i fl us men s o reconc e pro e ore ax o ne cas n ow Depreciation and amortisation expenses Interest Income Dividend Received Extra Ordinary Item Provision for ECL Gratuity Provision Interest Paid Working capital adjustments :- (Increase) / Decrease in Trade and Other Receivables (Increase) / Decrease in Inventories (Increase) / Decrease in Other Non-Current Assets (Increase) / Decrease in Other Non-Current Financial Assets (Increase) / Decrease in Other Current Financial Assets Increase / (Decrease) in Trade and Other Payables Increase / (Decrease) in Other Financial Liabilities Direct taxes paid (Netof Refunds) Net cash flow from operating activities Investing activities Dividend Received Proceeds / (Purchase) of Investments Addition in Right of use Asset Purchase of fixed assets Interest received Net cash flow used in investing activities Financing activities Proceeds form issues of Borrowings (Net) Proceeds / Payment of Lease Liability Issue of shares Interest paid Net cash flow from financing activities Increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	(16,503,587) 13,905,276 (5,405,493) - 1,137,521 - - 23,558,607	4,208,888 17,380,951 - - 217,156 367,043 20,295,884
	16,692,325 (72,987,750) 24,228,791 56,106,501 3,924 - 23,300,999 (11,220,171)	42,469,922 44,642,572 (5,010,645) (112,246,327) 2,169,855 13,098,662 9,503,691 3,390,177
	36,124,618 (10,000,000)	(1,982,093) (3,342,187)
	26,124,618	(5,324,280)
	1,500,000 3,000,411 (1,288,114) 5,405,493	- 1,450,000 - (1,595,888) -
	8,617,790	(145,888)
	17,942,141 (6,965,693) - (23,558,607)	1,134,516 (14,173,264) 54,000,000 (20,295,884)
	(12,582,159)	20,665,367
	22,160,249 32,956,711 55,116,960	15,195,199 17,761,513 32,956,711
Components of Cash and Cash Equivalents at the end ofyear
Particulars	As at 31-Mar-2021	As at 31-Mar-2020
Cash on hand Balance with banks	55,116,961	32,956,711 -
Cash and Cash Equivalents(closing)	55,116,961	32,956,711
Note :The cash flow statement has been prepared under the indirect method a (Ind AS 7) statement of cash flows.	s set out in Indian Accounting Standard
This is the Cash Flow Statement referred to in our audit report of even date In terms of our report of even date For and on behalf of the Board of Directors For JAIN JAGAWAT KAMDAR & CO. Chartered Accountants *Firm Regn No. 122530W* *Chandrashekhar Jagawat* Riyaz Ganji LIBAS CONSUMER PRODUCTS LIMITED Partner Director Mem. No. : 116078 DIN - 07037084 Place : Mumbai Place : Mumbai Date : May10,2021 Date : May10, 2021

(Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489 Standalone Audited Statement of Profit & Loss Account For the Quarter and Year Ended March, 2021	(Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489 Standalone Audited Statement of Profit & Loss Account For the Quarter and Year Ended March, 2021	(Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489 Standalone Audited Statement of Profit & Loss Account For the Quarter and Year Ended March, 2021	(Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489 Standalone Audited Statement of Profit & Loss Account For the Quarter and Year Ended March, 2021	(Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489 Standalone Audited Statement of Profit & Loss Account For the Quarter and Year Ended March, 2021	(Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489 Standalone Audited Statement of Profit & Loss Account For the Quarter and Year Ended March, 2021	(Amount in Rs.) LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESIGNS LIMITED) CIN NO. L18101MH2004PLC149489 Standalone Audited Statement of Profit & Loss Account For the Quarter and Year Ended March, 2021
			3 Months Ended		Year ended	Year ended
	Ptil
	arcuars	31-03-2021	31-12-2020	31-03-2020	31-03-2021	31-03-2020
		Unaudited	Unaudited	Unaudited	Audited	Audited
I. II III IV V VI VII VIII IX	Revenue from Operations Oth I er ncome Total revenue (I + II) Expenses Cost of materials consumed Employee benefits expense Finance costs Depreciation and amortization expense Other expenses Total Expenses	157,950,520 1 481 020 , ,	86,155,409 -	72,321,925 3 699 017 , ,	349,971,717 5 405 493 , ,	332,175,253 14 215 579 , ,
		159,431,540	86,155,409	76,020,942	355,377,210	346,390,832
		143,017,061 2,176,389 5,428,686 3,727,109 1,290,813	53,628,835 1,852,661 5,754,152 4,936,662 4,861,214	56,456,407 4,705,360 7,485,423 13,630,442 5,259,434	276,762,181 6,425,051 23,558,607 13,905,276 8,036,510	249,314,583 20,366,203 22,509,920 17,380,951 32,610,287
		155,640,057	71,033,524	87,537,066	328,687,625	342,181,943

	Profit/(Loss) before exceptional and extraordinary items and tax (III-IV)	3,791,483	15,121,885	(11,516,124)	26,689,585	4,208,888
	Exceptional Items - note c Profit/(Loss) before extraordinary items and tax (V-VI) Extraordinary Items	- 3,791,483 -	- 15,121,885 -	- (11,516,124) -	(43,193,172) (16,503,587)	4,208,888 -
	Profit before tax (VII-VIII)	3,791,483	15,121,885	(11,516,124)	(16,503,587)	4,208,888

X XI XII XIII	Tax expense: (1) Current tax - Provision for Taxation (2) Less: Adjustment for Prior Year Taxation (3) Add: Balance B/F from last Year (4) Deferred tax Net Profit / (Loss) after tax Other Comprehensive Income Items that will not be reclassified into Profit or Loss - Re-measurement gains / (Loss) on defined benefits plans - income Tax effect on above Total Comprehensive Income for the year (after tax) Earning per equity share: (1) Basic (2)Diluted	- - - (95,600)	- - - (105,800)	- - - 105,245	- - - (222,955)	676,200 - - 105,245
		(95,600) 3,887,083 3,887,083 0.32 0.32	(105,800) 15,227,685 15,227,685 1.24 1.24	105,245 (11,621,369) 282 922 , (70,731) (11,409,178) (0.97) (0.97)	(222,955) (16,280,632) (16,280,632) (1.33) (1.33)	781,445 3,427,443 282 922 , (70,731) 3,639,635 0.30 0.30

a.	The aforesaid results were reviewed by the audit committee of the board and subsequently taken on record by the board of directors of the Company at their meeting held on 10th May, 2021.
b.	The Company's business activity falls in single primery segment viz Trading of Fashion Lifestyle Products therefore disclosure requirement under AS 17 - Segment Reporting are not applicable.
c.	In view of the statewide various lockdown/restrictions announced by the State Government to control the spread of COVID-19, the Company’s business operations were temporarily disrupted. The Company has resumed operations in a phased manner as per government directives. The Management has considered the possible effects, if any, that may result from the pandemic on the carrying amounts of current assets after considering internal and external sources of information including the possible future uncertainties in the global economic conditions as at the date of approval of these financial results. Given the uncertainties associated with pandemic's nature and duration, the actuals may differ from the estimates considered in these financial results. The Companycontinues to closelymonitor the rapidlychangingsituation.
d.	The figures of currentquarteryear ended 31st March 2021 is balancingfigures between the unaudited figures in respect of the financialyear ended March 2021 and published year to date figures up to 9 months ended December 31, 2020, which were subjected to limited review.
e.	Undisputed tax liability of Income tax for FY 2018-19 is outstanding as at 10th May, 2021 Rs. 37.50 Lakhs plus interest as applicable and fir FY 2019-20 is outstandingof Rs 6.76 Lakhs
f.	The Company is not maintaining relevent information of creditors about micro and small enterprises and hence the MSME creditors are clubbed with others.
g.	The undisputed tax liability in relation to profession tax was not paid by the company for the FY 2018-19 and 2019-20 and till March 2021 amounting to Rs. 2.39 Lakhs.
h.	The Contingent liability includes the results of outcome of following cases filed against Company:- a) - Case No. ESI No. 28 of 2013 filed in the Hon’ble Employees Insurance Court, Mumbai by ESIC for recovery of Rs. 7,84,838/-. Company got the recovery stayed through Hon’ble Employees Insurance Court. Employees State Insurance Corporation filed the case alleging that the stay orders are obtained by suppressing or misrepresenting the material facts to obtain orders and hence to award punishment in accordance with law. Application is at the stage of Evidence. - Case No. 267/SW/2012 filed for non-payment of contribution for the period February 2007 to December 2011 of Rs. 11,59,373/-. - Case No. 2512447/2012 filed for non-submission of Return of contribution from April 2006 to September 2011 in due dates i.e. within 42 days from the expiry of contribution period. Both the cases were filed on October 10, 2012 in Sewree Court, Company has attending the case. The said cases are also pending in E.I. Court Bandra, Mumbai at final stage. The Company has filed the Arbitration against G.S. Majestic Developers Pvt Ltd for Rs 6,98,95,800/- in the High Court Mumbai on 30.11.2017 and the case no ARBAPL/1007/2017, The High Court has been appointed Justice Rohan Savant for hearing, the case has been still pending.
i	The Statutory auditor of the Company have carried out "Limited review" on the above results as required under Regulation 33 of SEBI (Listing Obligation and Disclosure Requirement)Regulation 2015 and SEBI Circular dated July5, 2016.
j	There are no investor complains received / pending as on 31st March, 2021
For and on behalf of the Board of Director of LIBAS CONSUMER PRODUCTS LIMITED Mr. Riyaz Ganji Date : May 10, 2021 Whole Time Director Place: Mumbai DIN : 02236203

ANNEXURE I

Statement on Impact of Audit Qualifications on Consolidated Financials for the Financial Year ended March 31, 2021 [ Regulation 33 of the SEBI (LODR) (Amendment) Regulations, 2016]

Sl. No.	Particulars	Audited Figures (as reported before adjusting for qualifications)	Adjusted Figures (audited figures after adjusting for qualifications)
1.	Turnover / Total income	540,807,636	540,807,636
2.	Total Expenditure	514,907,828	516,851,828
3.	Net Profit/(Loss)	(11,887,871)	(13,831,871)
4.	Earnings Per Share	(0.95)	(1.13)
5.	Total Assets	655,688,460	655,688,460
6.	Total Liabilities	281,591,646	283,535,646
7.	Net Worth	374,096,814	372,152,814
8.	Any other financial item(s) (as felt appropriate bythe management)	-	-
II. Audit Qualification (each audit qualification separately):
a. Details of Audit Qualification: 1. Attention is also invited to thenote no.’e’of the Consolidated financial results wherein the undisputed income tax liability of Rs.41.18 Lakhs the for FY 2018-19 and of Rs 6.76 Lakhs for FY 2019-20 are unpaid as at 10thMay 2021 2. Attention is also invited to thenote no ‘i’of the Consolidated financial results wherein the undisputed tax liability in relation to Professional Tax are unpaid as at March 2021 amounting to Rs. 2.39 Lakhs/-. 3. As per note “h(a)” of the Consolidated financial result, company has pending litigation under ESIC and amount involved under litigation is amounting to Rs 19.44 Lakhs, same were not provided in the financial statement therefore the profit for the quarter is over stated by Rs. 19.44 Lakhs and current Liabilities were understated by 19.44 Lakhs and Loss is understated by Rs 19.44 Lakhs for the year ended march 2021 4. Attention isalso invited that the company is yet to obtain ODI permission from RBI for investment in foreign subsidiary. b. Type of Audit Qualification :Qualified Opinion c. Frequency of qualification: All Qualification is continued from March 2019.

d. For Audit Qualification(s) where the impact is quantified by the auditor, Management's Views :

The management has provided in the books for income tax dues of AY 2019 ‐ 20 and AY 2020-21 and Paid partly on 30/06/2020 and ensure to pay balance for the both AYs.

As far As Profession Tax of Rs. 2.22 Lakhs is concern the company has send the details for compiling and filing of the required return to consultant but he was unable to provide interest and penalty working and due to technical error on Profession Tax site company was unable to pay the dues in time. Management ensures to comply the deficiency as soon as technical error resolved by the PT department.

e. For Audit Qualification(s) where the impact is not quantified by the auditor:

(i) Management's estimation on the impact of audit qualification: ‐ Not Ascertainable
(ii) If management is unable to estimate the impact, reasons for the same: Management will provide the liability as prior period item in next quarterly results for the satisfaction of Auditor.
(iii)Auditors' Comments on (i) or (ii) above: Qualifications are not material to the operation of the Company.

III. Signatories:

Reshma Gangji Managing Director DIN: 07576582

==> picture [88 x 66] intentionally omitted <==

==> picture [74 x 63] intentionally omitted <==

CFO

Audit Committee Chairman

Statutory Auditor

==> picture [247 x 128] intentionally omitted <==

Date : 10[th] May, 2021

ANNEXURE I

Statement on Impact of Audit Qualifications on Standalone Financials for the Financial Year ended March 31, 2021

[ Regulation 33 of the SEBI (LODR) (Amendment) Regulations, 2016]

Sl. No.	Particulars	Audited Figures (as reported before adjusting for qualifications)	Adjusted Figures (audited figures after adjusting for qualifications)
1.	Turnover / Total income	349,971,717	349,971,717
2.	Total Expenditure	328,687,625	330,631,625
3.	Net Profit/(Loss)	(16,503,587)	(184,447,587)
4.	Earnings Per Share	(1.33)	(1.51)
5.	Total Assets	582,343,156	582,343,156
6.	Total Liabilities	280,809,101	282,753,101
7.	Net Worth	301,534,055	299,590,055
8.	Any other financial item(s) (as felt appropriate bythe management)	-	-
II. Audit Qualification (each audit qualification separately):
a. Details of Audit Qualification: 1. Attention is also invited to thenote no.’e’of the Standalone financial results wherein the undisputed income tax liability of Rs.41.18 Lakhs the for FY 2018-19 and of Rs 6.76 Lakhs for FY 2019-20 are unpaid as at 10thMay 2021 2. Attention is also invited to thenote no ‘i’of the Standalone financial results wherein the undisputed tax liability in relation to Professional Tax are unpaid as at March 2021 amounting to Rs. 2.39 Lakhs/-. 3. As per note “h(a)” of the Standalone financial result, company has pending litigation under ESIC and amount involved under litigation is amounting to Rs 19.44 Lakhs, same were not provided in the financial statement therefore the profit for the quarter ended March 21 is over stated by Rs. 19.44 Lakhs and current Liabilities were understated by 19.44 Lakhs and Loss is understate by Rs 19.44 for year ended March 2021 4. Attention isalso invited that the company is yet to obtain ODI permission from RBI for investment in foreign subsidiary. b. Type of Audit Qualification :Qualified Opinion c. Frequency of qualification: All Qualification is continued from March 2019.

d. For Audit Qualification(s) where the impact is quantified by the auditor, Management's Views :

The management has provided in the books for income tax dues of AY 2019 ‐ 20 and AY 2020-21 and Paid partly on 30/06/2020 and ensure to pay balance for the both AYs.

e. For Audit Qualification(s) where the impact is not quantified by the auditor:

(i) Management's estimation on the impact of audit qualification: ‐ Not Ascertainable
(ii) If management is unable to estimate the impact, reasons for the same: Management will provide the liability as prior period item in next quarterly results for the satisfaction of Auditor.
(iii)Auditors' Comments on (i) or (ii) above: Qualifications are not material to the operation of the Company.

III. Signatories:

Reshma Gangji Managing Director DIN: 07576582

==> picture [88 x 66] intentionally omitted <==

==> picture [74 x 63] intentionally omitted <==

CFO Audit Committee Chairman `

Statutory Auditor

==> picture [247 x 128] intentionally omitted <==

Date : 10[th] May, 2021

AI assistant

Libas Consumer Products Limited — Audit Report / Information 2021

62537_rns_2021-05-10_97b79117-30d9-4e28-8f33-445e72d0e481.pdf

Sub: Outcome for the Board Meeting under the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015

For & on behalf of Libas Consumer Products Ltd.

INDEPENDENT AUDITOR’S REPORT ON AUDIT OF CONSOLIDATED ANNUAL FINANCIAL RESULTS AND REVIEW OF QUARTERLY CONSOLIDATED FINANCIAL RESULTS

LIBAS CONSUMER PRODUCTS LIMITED (FORMALLY KNOWS AS LIBAS DESIGNS LIMITED)

Opinion and Conclusions

a) Qualified Opinion on Annual Consolidated Financial Results

Basis for Qualified Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2021.

Management’s Responsibilities for the Statement

Auditor’s Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2021

(b) Review of the Consolidated Financial Results for the quarter ended March 31, 2021

Other Matters

UDIN: 21116078AAAADL3104

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

INDEPENDENT AUDITOR’S REPORT ON AUDIT OF STANDALONE ANNUAL FINANCIAL RESULTS AND REVIEW OF QUARTERLY STANDALONE FINANCIAL RESULTS

LIBAS CONSUMERS PRODUCTS LIMITED (FORMALLY KNOWN AS LIBAS DESINS LIMITED)

Opinion and Conclusions

a) Qualified Opinion on Annual Standalone Financial Results

b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2021.

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

Basis for Qualified Opinion on the Audited Standalone Financial Results for the year ended March 31, 2021.

Management’s Responsibilities for the Statement

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

Auditor’s Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2021

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

(b) Review of the Standalone Financial Results for the quarter ended March 31, 2021

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

Other Matters

UDIN: 21116078AAAADK4244 Date: 10[th] May, 2021

JAIN JAGAWAT KAMDAR & CO CHARTERED ACCOUNTANTS

Stanalone Balance Sheet as at 31st March 2021

ANNEXURE I

Statement on Impact of Audit Qualifications on Consolidated Financials for the Financial Year ended March 31, 2021 [ Regulation 33 of the SEBI (LODR) (Amendment) Regulations, 2016]

d. For Audit Qualification(s) where the impact is quantified by the auditor, Management's Views :

e. For Audit Qualification(s) where the impact is not quantified by the auditor:

ANNEXURE I

Statement on Impact of Audit Qualifications on Standalone Financials for the Financial Year ended March 31, 2021

[ Regulation 33 of the SEBI (LODR) (Amendment) Regulations, 2016]

d. For Audit Qualification(s) where the impact is quantified by the auditor, Management's Views :

e. For Audit Qualification(s) where the impact is not quantified by the auditor:

More from Libas Consumer Products Limited

Libas Consumer Products Limited Audit Report / Information 2021