Corporate Office : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036. . Phone :6611 2200. Fax:6611 2249 Website:www.lykalabs.com. Email : [email protected]

Ltt November,2OIg

The BSE Ltd.l-" Floor, New Trading RingRotunda Bldg, P.J. TowersDalal Street, Mumbai- 400 001	The National Stock Exchdnge of India LtdExcha nge Plaza, sth f,loorPlot No. C/1, G. BlockBandra Kurla ComplexBandra (East), Mumbai - 400 05L
Script Code: 500259	Script Code : LYKALABS

Dear Sir/Madam,

Sub.: Outcome of Board Meeting held on Friday, l.'t November,2O!9

With reference tothe captioned subject and pursuantto Regulation 30 of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that at the meeting of Board of Directors held today i.e. l-'t November, 2019, following decisions were taken:

1,. A.pproval of Un-audited Standalone Financial Results for the second quarter and half year ended 30'h September, 2019 along with Limited Review Report provided by the statutory auditors thereon; ( Enclosed);
Approval of Un-audited Consolidated Financial Results for the second quarter and half year ended 3Oth September, 2019 along with Limited Review Report provided by the statutory auditors thereon; ( Enclosed) 2.
Board of Directors have noted the resignation of Mr. Raj Trivedi from the post of Company Secretary and Compliance Officer of the Company, effective from closing of business hours of 3L" October, 2019. 3.
Board of Directors have appointed Mr. Abhishek Deepak Buddhadev as Company Secretary and Compliance Officer with effect from l8th November, 2019, pursuant to Section 2O3 of the Companies Act 2013 and Regulation 6(1) of the Securities and Exchange Board of India (Listing Obligation & Disclosure Requirements) Regulations, 20L5. 4.

Further, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI circular No. CIR/CFD/CMD/4/2015

Regd. Office :4801 I B & 4802 /A, G.|.D.C. Industrial Estate, Ankleshwar - 393 002. . Phone : 02646 221422 I 220549. Fax : 02640-250692 ctN 124230GJ 1 976P1C008738

LaSs Lbrfied

Corporate Office : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036. . Phone :6611 2200. Fax:6611 2249 Website:www.lykalabs.com. Email : [email protected]

ti il 9r . rl

date 9th September, 2OI5 please find the following disclosures pertaining to the appointment:

SrNo.	Particulars	Details
1.	Name	Mr. Abhishek Buddhadev
2.	Reason for change	Appointment
3.	Membership No.	440267
4.	Date of appointment	L8tn November,2OIg
5.	Qualif ication	B.com & M. com from Mumbai UniversityCompany Secretary from lnstitute ofCompany Secretary of India.
6.	Prof ile	Mr. Abhishek Buddhadev is a member ofInstitute ofCompany Secretaries ofIndia(lCSl), besides holding the esteemedqualification of Company Secretary, he has4 years of Post Qualification in the field ofSecretarial Compliance & Corporate LawAdvisorv.

Appointment of Shri Sandeep P Parikh (DlN: 00022365) as Additional Independent Director on the Board of the Company who shall hold the off ice till the commencement of the ensuing Annual General Meeting and his appointment as an Independent Director for a period of three years be made from commencement of Annual General Meeting subject to approval by the Shareholders.

Further, in compliance with Regulation Requirements) Regulations, 2015 read date 9'n September, 2OI5 please find appointment: 30 of SEBI (Listing Obligations and Disclosure with SEBI circular No. CIR/CFDICMD/41201,5 the following disclosures pertaining to the

Sr	Particulars	Details
No.
1,.	Name	Mr. Sandeep Parikh
2.	Reason for change	Appointment
3.	Date of appointment	1" November,2O!9
4.	Qualification	Chartered Accountant from the lnstitute of
		Chartered Accountants of lndia

Regd. Office :4801 | B & 4802 /A, c.l.D.C. Industrial Estate, Ankleshwar - 393 002. . Phone : 02646 221422 I 220549 . Fax:0264Q-250692 clN 124230GJ 1 976P1C008738

Lafis Lit fie[

Corporate Offlce : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036. . Phone:6611 2200. Fax:6611 2249 Website: www.lykalabs.com. Email : [email protected]

5.	Profile	Mr. Sandeep Parikh is ar member of
		Institute of Chartered Accountants of lndia
		(lCAl) and having a vast experience in area
		of audit and tax.

As per circular LIST/COMPI1412018-19 dated 2fth June, 20L8, the Coripany affirm that Mr. Sandeep Parikh is not debarred from holding the office of director"by virtue of any SEBI order and any other such authority.

Board meeting commenced at 13.00 and concluded at 16:55 P.M.

Kindly take the above on your record.

Yours faithfully, No.01516156 Gandhi Ma

Regd. Office : 4801 I B & 4802 / A, G.|.D.C. Industrial Estate, Ankleshwar - 393 002. . Phone : 02646 221422 I 220549. Fax : 02640-250692 clN 124230GJ1 976P1C008738

Corporate Offlce : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036 . Phone :6811 22001290 Website : www.lykalabs.com . Email : [email protected] o

	Statement of Standalone Unaudited Financial Results for the Quarter and Half Year Ended 30th September,20L9'
	Particulars		Quarter Ended		Half Year Ended	(T in lakh)PreviousVaar Fndod
		30th Sep,2019lUnaudited)	30th June,2019lUnaudited)	30th Sep,2018lUnaudited)	30th Sep,,2079lUnaxdited)	30th Sep,2018(Unaudited)	3lst March,2079(Audited)
	Revenue
	Revenue from Operations	830.28	614.31,	513.56	1,504.59	L,749.O2	4,LL8.28
	Other lncome	39.r2	67.85	30.78	106.97	60.74	257.81
il.	Total lncome	869.40	742.76	644.34	1.611.56	1.809.16	4.376.09
ilt.	Expenses
td,	Cost of Materials Consumed	420.48	175.50	238.1,1,	59s.98	s98.93	t-,505.49
(b)	Purchase of Stock in trade	29.20	90.00	75.29	119.27	319.38	658.77
(c)	Change in inventories of finished goods,work-in-progress a nd stock-in-trade,	(1,44.67)	(3s.76)	2.55	(180.43)	7.53	60.44
(d)	Employee benefits expense	257.46	24L.8L	229.1,1,	499.27	510.34	999.18
(e)	Finance Costs	73.96	141.01	120.55	274.97	226.39	573.24
(f)	Depreciation and amortisation expense	139.53	140.99	155.82	280.52	310.87	443.86
lol	Othpr evnencc<	203.55	226.78	191.11	430.33	390.01	792.51,
	Total Expenses	979.5L	980.33	952.54	L,959.85	2.363.4s	5,033.49
lv.	(Loss) /Profit before Exceptional ltems andTaxes (ll - lll)	(110.11)	.238.17l,	(308.20)	1348.2e)	(ss4.2s)	(6s7.40)
	V. Exceptional ltems (Net)						s2.68
	Vl. (Loss) / Profit before Tax	(110.11	,238.r71	(308.201	{.348.29)	(ss4.29)	{710.081
	Vll. Tax Expenses (Deferred Tax)	r0.07	3.03	(2.86)	13.10	(1e.7s)	(883.37)
	Vlll. Net (Loss) / Profit afterTax	{120.18	1241.201	{30s.34)	1361.391	1534.s01	t73.29
tx.	Other Comprehensive Loss / (lncome)		(2.18)	7.43	(2.18)	14.86	(8.71)
x.	Total Comprehensive (Loss) / Income	1120.18	'239.O21	312.771	(3s9.21	(549.35)	1.82.00
	Paid up Equity Share Capital(Face value { 10/- each)	2,869.00	2,8r4.00	2,81,4.00	2,869.00	2,81,4.00	2,814.00
	Other Equity						7,046.1.5
xl.	Basic and diluted earnings oer share	(0.43	(0.871	(1.09	(1.30	(1.92)	0.s8

Corporate Offlce : Ground floor, Spencer Building, 30, Forjett Street, Grant Rqad (West), Mumbai - 400 036 . Phone :881122001290 Website : www.lykalabs.com. Email : [email protected] on

	Unaudited Statement of Assets & Liabilities as at 30th September, 2019		({ in lakh)
	Particulars	As at 30th Sep, 2019	As at 31st March, 2019
	cssETs
!	Non-Current Assets
	(a) Property, Plant and Equipment	7,239.67	7,25L.76
	(b) Capital Work- In- Progress	1,755.18	1,755.18
	(c) Intangible assets	337.60	371,.26
	(d) Intangible assets under development	1,,31,7.40	7,21,5.86
		10 649.8s	10.594.06
	(e)Financial Assets
	(i)lnvestments	6,245.30	245.306
	(ii) Other Financial Assets	1,36r.77	I516.70
	(f)Other Non Current Assets	1,52.25	I27.23
	(e)Non Current Tax Assets	335.51	399.50
	(h)Deferred tax assets(net)	1,011.11	1 024.62
		o 1n< o,4	q ?7? ?q
2	Current Assets
	(a) lnventories	804.57	594 f1
	(b) Financial Assets
	(i)lnvestments	0.73	0.70
	(ii) Trade Receivables	2,72L.62	2,968.L6
	(iii) Cash and Cash Equivalents	o/.or	9.01
	(iv) Loans	5.85	4.25
	(v) Other Financial Assets	360.19	348.96
	(c) Other Current Assets	1.239.39	917.L5
		5,199.96	4,902.14
	Total Assets	24,955.75	24.870.15
	EQUITY AND LIABILITIES
	Equity
	(a) Equity Share capital	2,869.00	2,81.4.00
	(b) Other Equity	5.820.06	7.046.75
		9.689.06	9.860.15
	LIABILITIES
1	Non-Current Liabilities
	(a) FinancialLiabilities
	(i) Borrowings	7,881.03	7,879.69
	(ii) Other Financial Liabilities	274.35	23.97
	(b) Provisions	269.69	277.12
		8.425.01	8.180.78
2	Current Liabilities
	(a) FinancialLiabilities
	(i) Borrowings	956.1,7	1,,241,.28
	(ii) Trade Payable	2,237.L7	2,209.79
	(iii) Other Financial Liabilities	2,1,29.25	1,819.40
	(b)
	Other Current Liabilities(c)	1,,355.26	1,,407.99
	Provisions	169.83	150.75
		6,841.62	6.829.21,
	Total Eouitv and Liabilities	24.955.75	24.870.75

Corporate Offlce : Groundfoor, Spencer Building, 30, Forjett Street, Grant Road (Wost), Mumbai - 4OO 036 ' Phone :66'11 22001290 website : www.lykalabs.com . Einail : [email protected] '

Lyka Labs LimitedCash Ff ow Statement for the half year ended 30th September,2olg
Particulars	Half Year ended30th September, 201.9		Half Year ended30th September, 2018

		(348.28		(s69.1s

	280.52		310.87
	(1,7.23)		(2.ss)

	21,4.97		226.39
	(32.47)		9.39

	(0.00)		(0.02)
	(0.s1)
	58.62		1.88
	(0.02)
		503.87		545.92
		155.59
				123.23l'
	_t)b.5_t		(74.73)
	(24.62)
	(2ro.o7l		1.08
			(1,3.72]'
	311.80(11.23)		363.78
	(262.24)		50.52
			(80.2s)
	(1.61)		12.e2l
	(33.21)		(s.ee)
	(7.43]'		1s2.60
	2L.32		284.98
	309.84		(s,260.92)
	l)2. t z)		203.54
	(11.03)		(119.34)
		r.85.12		14.501.401
		340.7t		t4,s24.63

	63.98	63.98	17.82	{.7t.82
		404.69		(4,535.45)

Purchase of fixed assets	(e1.46)		(12s.34)
Proceeds from sale offixed assets
Interest Received	1_7.23		2.59
Net cash used in Investing activities (B)		.74.23l		1L22.7sl
C. Cashflow from Financing activities
Proceed from / (Repayment) of Non Current Borrowings Net	1,.34		7,450.7L
Proceed from / Repayment of Current Borrowings Net	(28s.11)		(2,s41.691
Proceeds from lssue of Equity Shares net (lncluding premium)	226.88
Interest Paid	(214.e7]		(226.3e1
Net cash used in Financing activities (C)		127t.861		4.682.63
Net (decrease ) / increase in cash and cash equivalents (A+B+C)		58.60		23.42
Cash and Cash Equivalents at the beginning ofthe year/period
Cash and Cash Equivalents		9.01		7.70
Earmarked Balances				39.2L
		9.01		46.91
Cash and Cash Equivalents atthe end of theperiod
Cash and Cash Eouivalents		67.61,		40.15
Earmarked Balances				30.18
		67.67		70.33
l{ /" 1- i1ir tr

',!'4 r\ -z

Regd. it / A, G.l.D.C. Industrial Estate, Ankleshwar - 393 002. 221422 I 220549. Fax : 02640-250692 ctN 124230cJ1 96P1C008738

Notes: I

The above un-audited standalone financial results as reviewed by the Audit Committee, have been approved and taken on record at the meeting of the Board of Directors held orn I't November,2019. '--E

il * lr rl

ConId...4l-..

2. Compromise Settlement:

(IARC) (") f debts of Dena

During the previous year, Dena Bank had entered into compromise settlement with the Company, whereby they had accepted OTS of Rs.5200 lakhs towards fujl and final settlement of its total dues through the funds arranged from IARC. In turn, they had assigned its total debts in favour of IARC, acting in its capacity as Trustee of IARF- III Trust Scheme vide Deed of Assignment dated 4rh September, 2018. Accordingly, all underlying securities and secLrrity rights pertaining to the debts also stood assigned in favour of IARC.

On assignment of debts, Dena Bank had isstred its No Dr-res Certificate on 17il' September, 2018.

The Company has created charge in favour of IARC during the previous year. The Company is in the process of formalising the terms of repayment of debts to IARC.

The Company bas not accounted for the effect of OTS as well as the treatment of assigned debts in favour of IARC, pending the terms of repayment of debts to IARC.

The effect of the settlement and assignment of debts would be accounted when the final terms are formalised with IARC.

Reconstruction Comrranv Pvt Ltd (IARC)

During the previous year, Kapol Co-op Bank Ltd was paid Rs.482.17 lakhs by the Company through the funds arranged from IARC towards repayment of outstanding debt along-with interest. In turn, Kapol Co-op Bank Ltd, had assigned its total debts in favour of IARC, acting in its capacity as Trustee of IARF- lll Trust Scheme I vide Deed of Assignment dated 26th December,20l8. Accordingly, all underlying securities and security rights pertaining to the debts also stood assigned in favour of IARC.

The Company is in the process of formalising the terms of repayment of debts to IARC.

The Company has not accounted for the treatment of the terms of repayment of debts to IARC.

terms are formalised The effect of assignment of debts would be accounted when the final IARC.

3. Carrital Bxrrenditure:

The Company reviews its poftfolio of products under development and applied research regularly. Accordingly, a sum of Rs.37.74 lakhs incured duringthe quarter is carried forward as "lntangible Assets under development" to be recognized as "Self-Generated Intangible Assets" upon successful development and commercial viability of the respective products. However, the carrying cost of those product's which do not confirm to the test of commercial viability are charged to the Statement ofProfit and Loss.

Ind AS l l6 - Leases, has become applicable effective annual reporling period beginning April l, 2019. The Company has adopted the standard beginning April 1,2019, using the modified retrospective approach for transition. Accordingly, the Company has not restated the comparative information, instead the cumulative effect of initially applying the standard has been recognized as an a-djustment to the opening balance of retained earnings as on April 1,2019. This has resulted in recognizing (including reclassification from other assets) a "Right of use asset" of Rs.244.84 Lakhs and a corresponding "Lease liability" of Rs.300.70 Lakhs by adjusting retained earnings net of taxes of Rs.38.76 Lakhs and Capital Work in Progress of Rs 17.09 Lakhs as at April 1,2019-

Consequently, in the statement of profit and loss for the current period, the nature of expenses in respect of operating leases has changed from lease "Rent"/"Other expenses" in previons period to ,,Depreciation and amoftizarion expense" for the right of use assets and "Finance cost" for Interest acc^red on lease liability. As a result the "Rent"/"Other expenses", "Depreciation and amofiization expense" and "Finance cost" of the current period is not comparable to the earlier periods.

To the extent the performance of the current period is not comparable with previous resrtlts, the reconciliation of above effect on statement of profit and loss for the quarter ended Sept' 30, 201 9 is as under:

Amount (Rs in Lakhs)

Adjustments to increase (decrease) innet profit	Quarter ended30th Sept,20l9comparablebasis	Changes inprofit due to IndAS 1f 6 increase/(decrease)	Quarter ended30th Sept., 2019as reported
Rent	20.08	20.08
Depreciation and amortization expense		(12.s2)	12.52
Finance cost		(3.6s)	3.65
Profit before tax	(1r4.02)	3.91	(1 10.1 r)
Less: Tax ex	8.65	(1.42)	( 10.07)
Profit after tax	(122.61)	2.49	( l 20.1 8)

The Company operates in one reportable business segment i.e. "Pharmaceuticals,,.
1. The figures for previous year /period have been regrouped/rearranged wherever clnsidered necessary.

FoTLYKA LABSLIMITBD

l't November,2019 (Managing Director)

Mumbai

Independent on the Quarterly and Year to Date Unauditefl Standalone Financial Results of th the Regulation 33 of the SEBI (Listing oblilations and Disclosure Requirements nded

Review Report to The Board of Directors Lyka Labs Limited

1. We have reviewed the accompanying statement of unaudited standalone financial results of Lyka Labs Limited (the 'Company') for the quarter ended 30th Septernber, 2019 and year to'date from 1"t Apil, 2019 to 30th September, 2019 (the "Statement") (which includes the Statement of Company's branch at Ankl,eshwar reviewed by other auditors and relied upon by us, after making such changes as are considered necessary for incorporation) attached'lt:tr:with, being submitted by the Company pursuant to the requirements of Regulation 33of the SEBI (Listing Otrligations and Disclosure Requirements) Regulations, 2015, ai amended (the;Listing Regulation"). Attention is drawn to the fact that the figures for net cash outflows for the corresponding period L.t April 2018 to 30il'September 2018 as reported in these unaudited financial results have been upprorrud by Board of Directors of the Company, but have not been subjected to review.
2- The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (lncl AS 34) "Interim Financial Reporting" prescribed ,rnd"r Section 133 of the Companies Act, 2013, as rLtnended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with flre Circular is the responsibility of the Company's managemlnt an.t has been approved by the Board of Directors of the Company. Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review -,f the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Finairial Information Performed by the Independent Auditor of tne fntity,' issued 6y 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 Statement is free of material misstatement. A review is limited prirnarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. A review is substantially less in scope than an audit conclucted in accordance with Standards of Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identifiecl in audit. Accordingly, we do not express an audit opinion.
Emphasis of Matter

We draw attention to the following matters:

A. Compromise Arrangernent

Note No 2(a) and (b)- regarding compromise settlement with Dena Bank and Kapol Co-op Bank for assignment of debts in favor of Internafional Assets Reconstruction Company Ltd (IARC).

B. Capital Expenditure

We draw attention to Note No. 3 regarding status of portfolio of products under development and applied research.

Our opinion is not qualified in respect of these matters.

Basecl on our review conducted as paragraph 3 above and further read with emphasis of matter in para 4 above, 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 applicable Inciian Aciountins

D.KOTHARY& CO. Ghartered Accountants

Standards ('Ind AS1 specified under Section 133 of the Companies Act, 2013 as amended, read with relevant ,J", irrrr"d theieunde^r and other recognised. accounting practices and policies has not disclosed the information required to be disclosed in_terms of thJRegulation, read with the Circular, including the manner in which it is to be disclosed, or that it contalns any material misstatement'

For D. &Co. Chartered Firm No.105335W

Parbrer Membership No.125024 UDIN: lltSz6go AAG.AoR Place:Mumbai Date: 1't November 201.9

t't *. it

Corporate Offlce : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036 . Phone :6611 22001290 Website : www.lykalabs.com . Email : [email protected]

	Statement of Consolidated Unaudited Financial Results for the Quarter and Half Year Ended 30th September,2019
	Particulars		Quarter Ended		Half Year Ended		(l in lakhPrevious
		30th 5ep,2019{Unaudited)	30th June,20t9lUnaudited)	30th 5ep,2018lUnaudited)	30th Sep,,2019(Unatdited)	30th Sep,2018(Unaudited)	Vpar Fndod31st March,2019.(Audited)
t.	RevenueRevenue from OperationsOther Income	1,,362.2435.16	L,436.47206.31	1,516.0047.62	2,798.71,241,.47	2,892.0089.44	7,078.02209.07
	ll. Total Income	1.397.40	L.642.78	r.557.62	3.040.18	2.987.44	7.287.09
	lll, Expenses(a) Cost of Materials Consumed(b) Purchase of Stock in trade(c) Change in inventories of finished goods,	366.70574.451202.r4)	229.28592.40(22.421	256. r r455.54280.25	595.981,166.8s1224.s6)	598.93850.21734.97	1,505.492,074.40344.51,
	work-in-progress and stock-i n-trade,(d) Employee benefits expense(e) Finance Costs(f) Depreciation and amortisation expense(g) Other expenses	36s.83r55.72199.58321.85	325.271.67.33200.68590.57	388.80156.19200.60635.33	691.10323.05400.2691,2.42	8t5.42299.35472.41,971,.52	L,468.54716.90731,.371,,874.65
	Total Expenseslv. (Loss) /Profit before Exceptional ltems andTaxes (ll - llll	1.781.99(384.ss)	2.083.11(440.33	2.354.82l7s7.2Ol	3.865.101824.921	4.142.8t(1,151.37)	8.715.8611,428.77l-
	V. Exceptional ltems (Net)			(37.27)		8.08	1,13.7r
	Vl'. f Loss) / Profit before Tax	{384.s91	{440.33	(7s9.93)	IA24-92	l-.169.45	L.542.48)
	Vll. Non Controlling lnterest	(74.37)	(6s.36	(es.64)	(13e.73)	(11s.s2	(74.66]'
	Vf f f . (Loss) / Profit before Tax	1370.221	{374.98)	.664.29	{68s.191	(1,053.931	(1,467.82
	lX. Tax Expenses (Deferred Tax)	10.11	(s8.44)	(18.6s)	(48.33)	122.3e)	(s07.28)
	X. Net (Loss) / Profit after Tax	1320.33)	1316.s41	(64s.641	(636.86	(1.031.s4)	(s60.54
	Xl. Other Comprehensive Loss / (lncome)		(2.18)	5.18	(2.18)	r5.5b	(28.03)
	Xll. Total Comprehensive (Loss) / Income	1320.33)	1314.36)	16s0.82	{634.68	11.044.90)	1532.s1)
	Xlll. Paid up Equity Share Capital(Face value Rs.10/- each)	2,869.00	2,8r4.00	2,BtA.OO	2,869.00	2,814.00	2,814.00
	Other Equity						1,667.43
	XlV. Basic and diluted earninqs per share	(1.14)	(1.131	(2.301	(2.271	(3.2s	(1.79

Corporate Offlce : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036 . Phone :66'1122001290 Website :www.lykalabs.com'Email : [email protected] otr

	2019		(₹ in lakh)
	Particulars	As at 30th Sep, 2019	As at 31st March,
			2019
	ASSETS
1	Non-Current Assets
	Property, Plant and Equipment(a)	7,368.66	7,381.67
	Capital Work- In- Progress(b)	1,755.183,248.74	1,755.183,391.33
	Intangible assets(c)	1,452.96	1,351.43
	Intangible assets under development(d)	13,825.54	13,879.61
	Financial Assets
	(e)(i)Investments	1.08	1.08
	(ii) Other Financial Assets	1,363.77	1,599.15
	Other Non Current Assets(f)	858.26	808.88
	Non Current Tax Assets(g)	588.95	668.81
	Deferred tax assets(net)(h)	1,350.76	1,302.84
		4,162.82	4,380.76
2	Current Assets
	Inventories(a)	954.43	700.23
	Financial Assets(b)
	(i)Investments	0.73	0.70
	(ii) Trade Receivables	994.91	1,463.52
	(iii) Cash and Cash Equivalents	201.17	157.16
	(iv) Loans	5.86	64.47
	(v) Other Financial Assets	543.06	352.34
	Other Current Assets(c)	910.53	738.31
		3,610.69	3,476.73
	Total Assets	21,599.05	21,737.10
	EQUITY AND LIABILITIES
	EquityEquity Share capital(a)	2,869.00	2,814.00
	Other Equity(b)	1,131.67	1,487.58
	Equity attributable to owners of the company	4,000.67	4,301.58
	Non-controlling Interest(c)	(11.10)	274.27
		3,989.57	4,575.85
	LIABILITIES
1	Non-Current Liabilities
	Financial Liabilities(a)
	(i) Borrowings	7,927.98	7,928.47
	(ii) Other Financial Liabilities	413.39	163.21
	Provisions(b)	335.47	342.13
	Other Non Current Liabilities(c)	8,676.84	8,433.81
2	Current Liabilities
	Financial Liabilities(a)
	(i) Borrowings	1,359.97	1,626.16
	(ii) Trade Payable	2,409.99	2,305.07
	(iii) Other Financial Liabilities	2,676.44	2,371.66
	Other Current Liabilities(b)	2,054.23	2,001.97
	Provisions(c)	432.01	422.58
		8,932.64	8,727.44
	Total Equity and Liabilities	21,599.05	21,737.10

. Phone : 02646 2214221 220549. Fax: 02640-250692 clN 124230GJ1 96P1C008738 Regd. Office : 4801 / B & 4802 /A, G.l,D.C Industrial Estate, Ankleshwar - 393 002

Corporate Offlce : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036 . Phone :6611 22001290 Website : www.lykalabs.com . Email : enquiry@lykalabs,com tr

,'E:t

Particulars		Half Year ended30th Seo. 2019		Half Year ended30th Seo. 2018
A. Cash Flow from Operatine Activities
Profit / (Loss) for the year/period before tax		(824.s1)		{.t,1.69.45)
Adjusted for
Depreciatio n	400.26		472.41
lnterest lncome	(19.s8)		(L7.74)
(Profit) / Loss on sale of fixed assets (net)			21,.65
Finance Cost	323.05		299.35
Provision for Doubtful Trade Receivables / Advances / Deposits /	1,4.63		97.54
Gratuitv / Leave Encashment
Provision/ Credit Balance no longer required Written Back	(0.00)		.1141
Exchange rate fluctuation	(10.s8)		(36.es)
lrrecoverable Advances written off	58.62		51.84
Return on lnvestment	(0.02)
		766.36		892.95
Operating profit before working capital change		(s8.ss)		(276.sOI
Changes in Working Capital :
(lncrease) / Decrease in Other Non-Current Financial Assets	176.76		(180.73)
(lncrease) / Decrease in Other Non-Current Assets	(48.97)		203.29
(lncrease) / Decrease in Inventories	(2s4.20\		1r3.t2
(lncrease) / Decrease in Trade and other receivables	5r3.74		60s.22
(lncrease) / Decrease in Other Current Financial Assets	(tso.72l		(33.32)
(lncrease) / Decrease in Other Current Assets	(172.22)		(69.68)
(lncrease) / Decrease in Loans	58.61		55.04
Increase / (Decrease) in Other Non-Current Financial Liabilities	(33.42)		1,14.66
Increase / (Decrease) in Non-Current Provisions	(6.66)		155.36
Increase / (Decrease) in Trade Payables	1,04.92		2s8.s0
Increase / (Decrease) in Other Current Financial Liabilities	304.78		(s,2s0.38)
Increase / (Decrease) in Other Current Liabilities	52.26		24'J16
Increase / (Decrease) in Current Provisions	(37.s7)		(173.6s)
		467.32		(3.960.79)
Cash generated from operations		408.77		14,237.291
Exchange rate f luctuation
Net lncome Tax PaVment	79.86	79.86	95.89	95.89
Net cashflow from operating activities (A)		488.64		(4,141.4Ol'
B. Cashflow for Investing activities
Purchase of fixed assets	(101)		(1s7.99)
Proceeds from sale of fixed assets
Interest Received	20		lt.74
Net cash used in Investing activities (B)		(81.78)		{.L46.24l
C, Cashflow from Financing activities

Proceed from / (Repayment) of Non Current Borrowings Net	(0)		7,428.91,
(Repayment) of Current Borrowings Net	(266)		(2,688.43)
Proceeds from lssue of Equity Shares net (lncluding Premium)	227
lnterest Paid	(323)		(2ee.3s)
Net cash used in Financing activities (C)		(362.8s)		4.447.73
Net (decrease ) / increase in cash and cash equivalents (A+B+C)		44.01,		153.49
Cash and Cash Equivalents at the beginning of the year/period
Cash and Cash Equivalents		18.35		17.40
Earmarked Balances		138.81		225.47
		757.t6		242.87
Cash and Cash Equivalents at the end
Cash and Cash Equivalents		82.87		257.54
Earmarked Balances		118.30		138.81
:-:d		20.r7		396.35

l-: {48021 A, G.l.D.C. Industrial Estate, Ankleshwar - 393 002. rr2AAA rtlAtt l tto.lt!.O t trav , ! i)Al-6-rAnAO, Regd. Office: Dhana ,\Z ctN 124230GJ1 96P1C008738

Notes:

l. The above un-audited consolidated financial results as reviewed by the Atrdit Committee, have been approved and taken on record at the meeting of the Board of Directors held on I't November,2019.

2. ComDromise Settlement:

(a) Assignment of debts in favour of International Asset Reconstfuction ComDanv Pvt Ltd (IARC)

Dr,rring the previous year, Dena Bank had entered into compromise settlement witlr the Holding Company, whereby they had accepted OTS of Rs.5200 lakhs towards full and final settlement of its total dues thror-rgh the fLrnds arranged frorn IARC. In turn, they had assigned its total debts in favour of IARC, acting in its capacity as Trustee of IARF- JII Trust Scheme vide Deed of Assignment dated 4th September, 2018. Accordingly, all underlying securities and security rights pertaining to the debts also stood assigned in favour of IARC.

On assignment of debts, Dena Bank had issLred its No Dues Certificate on l7'r' Septernber, 2018.

The Holding Company has created charge in favour of IARC during the previor,rs year. The Holding Company is in the process of formalising the terms of repayment of debts to IARC.

The Holding Company has not accounted for the effect of OTS as welI as the treatment of assigned debts in favour of IARC, pending the terms of repayment of debts to IARC.

The effect of the settlement and assignment of debts would be accounted when the finalterms are formalised with IARC.

Assignment of debts bv Kanol Co-op Bank Ltd in favour of Tnternational Asset Reconstruction Companv Pvt Ltd (IARC) (b)

During the previous year, Kapol Co-op Bank Ltd was paid Rs.482.17 lakhs by the Holding Company throLrgh the funds arranged from IARC towards repayment of outstanding debt alongwith interest. In turn, Kapol Co-op Bank Ltd, had assigned its total debts in favour of IARC, acting in its capacity as Trustee of IARF- III Trust Scheme I vide Deed of Assignment dated 26Ih December, 2018. Accordingly, all underlying securities and security rights pertaining to the debts also stood assigned in favour of IARC.

The Holding Company is in the process of formalising the terms of repayment of debts to IARC. The Holding Company has not accounted for the treatment of assigned debts in favour of IARC, pending the terms of repayment

The effect of assignment of debt ted when the final terms are formalised with IARC. fjj-' '1 ' r' {: m,-. ', ]i i, i,' ;..-il 'i" '.. i

:'li:. ' .ii..1t'

,.r, :/ l ..-. - . --j,/ -..:i ;.:

3. Carrital Exrrenditure:

The Holding company reviews its portfolio of products under development and applied research regularly' Accordingly, a sum of Rs. 37.'74lakhs incurred during the quarter is carried forward as "Intangible Assets under development" to be recogn ized as "Self-Cenerated Intangible Assets,, upo' successful development and commercial viability of the respective products. However, the carrying cost of those product's which do not confirm to the test of commercial viability are charged to the Statement of Profit and Loss. ,

4' Ind AS 116 - Leases, has become applicable effective annual ."po.ting period beginning April l, 2019' The Company has adopted the standard beginning April I , 2019, using the modified retrospective approach for transition. Accordingly, the Company has not restated the comparative information, instead the cumulative effect of initially applying the standard has been recognized as anadjustmenttotheopeningbalanceofretainedearningsasonApril l,20lg. Thishasresultedin recognizing (including reclassification from other assets) a "Right of use asset,, of Rs.244.g4lakhs and a corresponding "Lease liability" of Rs.300.70 Lakhs by adjusting retained eamings net of taxes of Rs'38.76 Lakhs and Capital Work in Progress of Rs 17.09 Lakhs as at April 1,2019.

Consequently, in the statement of profit and loss for the current period, the nature of expenses in respect of operating leases has changed from lease "Rent"/"Other expenses,, in previous period to "Depreciation and amortization expense" for the right of use assets and ..Finance cost,, for Interest accrued on lease liability. As a result the "Rent"/"other expenses", "Depreciation and arnortizatio' expense" and "Finance cost" of the current period is not comparable to the earlier periods.

To the extent the performance of the current period is not comparable with previous results, the reconciliation of above effect on statement of profit and loss for the qlrarter ended Sept. 30, 2019 is as under:

Adjustments to increase (decrease) in nelprofit	Quarter ended301h Sept, 2019comparablebasis	Changes inprofit due to IndAS f l6 increase/(decrease)	Quarter ended30th Sept.,20l9as reported
Rent	20.08	20.08
Depreciation and amortization expense		(12.s2)	12.52
Finance cost		(3.6s)	3.65
Profit before tax	(314.12)	3.91	(3 10.21)
Less: Tax expense	8.69	(1.42)	10.r 1
Profit after tax	(322.81)	2.49	(320.32)

J. The Group operates in one reportable buSiness segment i.e. "Pharmaceuticals".r'
1. The figures for previous year /period have been regrouped/rearranged wherever considered necessary. I

For LYKA LA LIMITED

. GANDHI (DrN 01s16rs6) 1't November,2019 AGING DIRECTOR)

Mumbai

EFit D.KOTHARY& CO. Chartered Accountants

Independent Auditor's Review Report on the Quarterly and Year- to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations,2015, as amended

Review Report to The Board of Directors I Lyka Labs Limited

1,. We have revieweci the accompanying Statement of unaudited Consolidated Financial Results of Lyka Labs Limited (''the Paint"), which includes its subsidiary (the Parent and its subsid as 'th ended 30th SePtembet' 2019, and year 2O1g (the "statement") attached herewith, Pare ments of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (,the Listing nefrrUu"i,). Attention is drawn to the fact that the figures for net cash outflows for the correspond.ing period 1., April 20L8 to 30d' September 20L8 as -reported in these unaudited financial i"sutts have been approvecl by Parent's Board of Directors of the Company, but have not been subjected to review'
1. This Statemen! wh.ch is the responsibitity of the Parent's Management and approved by th9 parent,s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid. down in Indian Accounting Standard 34, (Ind_AS 34) "Interim Financial Reporting'i prescribed under Section 133 of the Companies Act, 2073 as amended" r.ead with relevant rules issued thereunder and other accounting principles generally accepted in India read with the Circular. 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 lnterim Financial Information Performed by the Ind-efenclent Auditor of the Entity" issuecl by the Institute of Chartered Accountants of Inclia. 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 pro-cedurer A review is substantially less in scope than an audit conducted in accordance with Standard.s on Auditing and consequently does not enable us to obtain assurance that we would become aware of uU rigt',ificant mabters that might be identified in an audit. Accordingly, we do not express an audit opinion'

We also performecl procedures in accordance with the Circular issued by the Securities and Exchange Boarcl of Irdiu under Regulation 33(B) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, to the extent applicable'

1. The Statement includes the results of following entities: Subsidiaries
- i) Lyka BDR International Limited
- ii) Lyka Exports ;r^rited

D.KOTHARY& CO. Ghartered Accountants

iii) Lyka Healthcare Lirnited

1. The accornpanying statement includes the interim financial results and other financial information in respect of 3 subsidiaries, whose interim financial results/information reflects total assets of Rs. 6,048.26 lakhs as at 30ft September 2019, total revenues of Rs. '1.,09L.23 lakhs and Rs.1.,952.47 lakhs, total net profit after tax of Rs. (236.81) lAkhs and Rs. (a15.19) lakhs, total complehensive income of Rs. (236.81) lakhs and Rs. (415.19) lakhs for the quarter ended 30h Septernber 20'1.9 and for the period 1.t April 2079 to 30h September 2019 respectively, and net cash outflow of 22.48 lakhs for the period 1.t April 2019 to 30th September 2019, which have been reviewed by us.
1. We did not review the interim financial results and other financial information in respect of one branch at Ankleshwar, whose interim financial results/information reflects total assets of Rs. 8,086.47 lakhs as at 30th September 20L9, total revenues of Rs. 578.28lakhs and Rs. 128L.04 lakhs, total net profit after tax of Rs. 36.22 lak1'rs and Rs. L62.42 lakhs, total cornprehensive income of Rs. 36,21 lakhs and Rs. 1,62.42lakhs for the quarter ended 30th September 201,9and for the period l.t April 2019 tt> 30trr Septernber 2019 respectively. These interim financial results and other financial information have been reviewed by other auditor, whose reports have been furnished to us by the management. Our conclusiory in so fal as it relates to the aflairs of branch is basecl solely on the report of other auditor. Our conclusion is not rnodified in resnect of this matter.

7 Emphasis of Mattg/

We draw attention to the following matters:

A. Compromise Arrangement

Note No 2(a) and (b) regalding compromise settlement with Dena Bank and Kapol Coop Bank for assignment of debts in favor of International Assets Reconstruction Company Ltd (IARC).

B. Capital Expenditure

We draw attention to Note No. 3 r'egarding status of portfolio of products under development and applied research.

1. Our opinion is nc,t r.lualified in respect of these matters
1. Basecl on our review conducted and procedures performed as stated in para 3 above, further read with emphasis of matter in para 7 ahove and based on the consideration of the review reports of other auditors referred to in para 6 above, nothing has come to our attention that causes us to believe that the accolnpanying Statement prepared in accordance with recognition and measurement plinciples laid down in the aforesaid Indian Accounting Standard specifiecl under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulq!

75 | 76,'c' Wing, 7th Froor, Mittar court, Nariman point, Mumb ai - 400 o2i t. Tel(B) +9122 66381155 /66 o Fax :+912266381167 o E-mail: [email protected] o Website:vrnrtrw.dkothary.com

D.KOTHARY&C Chartered Accogntants

read with the Circular, including the manner in which it is to be disclosed, or that it contains any naterial misstatement.

For D. Kothary & Co. Chartered Firm No.105335W

Partrer Membership No.125024 UDIN: tqtszt SoAAAA DJI Place: Mumbai

Date: 1"t November 2019

AI assistant

Lyka Labs Ltd. Interim / Quarterly Report 2020