Lyka Labs Ltd. — Interim / Quarterly Report 2021

Oct 29, 2021

Corporate Office : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036 · Phone : 6611 2200/290 Website: www.lykalabs.com ·Email: enquiry@lykalabs.com ^H

29th October, 2021

The BSE Limited	The Nationa l Stock Exchange of India
1st floor, New Trading Ring	Limited
Rotunda Bldg, P.J Towers	Exchange Plaza, 5th Floor
Dalal Street, Mumbai -400 001	Plot No. C/1, G. Block
	Bandra Kurla Complex
	Bandra (East), Mumbai - 400 051
Script Code: 500259	Script Code: L YKALABS

Dear Sir I Madam,

Subject: Outcome of the Board Meeting

In Compliance with Regu lation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 the Board of Directors at its Meeting held today considered and approved;

• 1. Un-audited Standalone and Consolidated Financial Results for the quarter and six months ended 3Qth September, 2021 (enclosed).
• 1. Merger of Lyka Exports Limited, a s ubsidiary Company with Lyka Labs Limited, Holding Company w.e.f ()} st April, 2022 subject to requisite approval of Securities and Exchange Board of India (SEBI), and other applicable requisite authorities.

Board noted the performance of the Con1pany during the Second Quarter ended 30th September, 2021 as under;

Standalone Financial Result Summary;

			(Rs. in Lakhs
Particulars	Quarter ended 3Qth	Quarter ended 3Qth	Quarter ended 3Qth
	September, 2021	September, 2020	June, 2021
Revenue from	6501.76	1290.08	4346.59
Operation
EBIDTA	-±506:1:0	290.70 .	3033.68
Profit After Tax	2981.25	(583.32)	1964.59

11

Corporate Office : Ground floor, Spencer Building, 30, Fo~ett Street, Grant Road (West), Mumbai - 400 036 • Phone : 6611 22001290 Website : www.lykalabs.com ·Email : enquiry@lykalabs.com

Consolidated Financial Result Summary;

			(Rs. in Lakhs
Particulars	Quarter ended 30th September, 2021	Quarter ended 30th September, 2020	Quarter ended 30th June, 2021
Revenue from Operation	7388.94	1745.59	4943.67
EBIDTA	4631.56	382.35	3036.80
Profit After Tax	28-!3.22	(574.96)	1955.07

Repayment made to International Asset Reconstruction Company Private Limited (IARC) between 151 April, 2021 to 30th September, 2021

Period	I Repayment to made ' IRAC
Quarter ended June 2021 (Q1FY22)	17.28 Crores
Quarter ended September 2021 (Q2FY22)	31.66 Crores
Total	48.94 Crores

Meeting was commenced at 3.00 P.M Meeting was concluded at 5.45 P.M

This is for your information and record .

Thanking You, Yours faithfully,

Piyush G. Hindia Company Secretary & Comp iance Officer ACS-5861

Encl.aja

Corporate Office : Ground floor, Spencer Building, 30, Forjett Stre~t, Grant Road (West), Mumbai - 400 036 • Phone: 6611 2200/290 Website : www.lykalabs.com • Email: enquiry@lykalabs.com Ht.althure Tbruuf.oh Innovation

	Particulars		Quarter Ended			Half Year Ended	Year Ended
		30th September, 2021	30th June, 2021 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)	30th 2020	30th September, September, September, 2021	30th 2020	31st March, 2021 (Audited)
I.	Revenue
	Revenue from Operations	6,501.76	4,346.59	1,290.08	10,848.36	2,544.32	6,226.30
	Other Income	85.58	53.11	41.31	138.69	90.57	221.03
	II. Total Income	6,587.34	4 399.70	1331.39	10 987.05	2 634.89	6,447.33
	Ill. Expenses
	(a) Cost of Materials Consumed	802.32	672.47	202.91	1,474.79	529.87	1,231.26
	(b) Purchase of Stock in trade	71.95	3.67	159.68	75.62	390.70	917.19
	(c) Change in inventories of finished goods, work-in-progress and stock-in-trade,	22.69	(100.94)	128.81	(78.24)	144.50	203.73
	(d) Employee benefits expense	415.60	399.37	294.01	814.97	585.16	1,302.58
	(e) Finance Costs	552.72	688.97	646.51	1,241.69	1,272.17	2,555.28
	(f) Depreciation and amortisation expense	208.79	205.15	203.80	413.94	405.19	804.97
	(g) Other expenses	768.39	391.44	255.28	1,159.83	452.04	1,128.98
	Total Expenses	2 842.46	2 260.13	1891.00	5102.60	3 779.63	8143.99
	IV. Profit I (Loss) before Exceptional Items and Taxes (II - Ill)	3,744.88	2,139.57	(559.61)	5,884.45	(1,144.74)	(1,696.66)
	v. Exceptional Items (Net)	204.31	(0.00)	9.10	204.31	9.10	142.87
	VI. Profit I (Loss) before Tax	~540.57	2139.57	(568.71)	5 680.14	_{1153.841	(1839.531
	VII. Deferred Tax	559.32	174.98	14.61	734.30	8.85	(393.64)
	VIII. Net Profit I (Loss) after Tax	2 981.25	1964.59	(583.32}	4945.84	(1162.69)	(1445.89)
	IX. Other Comprehensive Income (Net of Tax)- Net Credit I (Charge)	(3.82)	(8.82)	(10.25}	(12.64)	(10.25)	8.88
	X. Total Comprehensive Income I (Loss)	2 977.43	1955.77	.{593.5'D.	4 933.20	11172.94)	(1437.0l)
	Paid up Equity Share Capital {Face value~ 10/- each) Other Equity	2,869.00	2,869.00	2,869.00	2,869.00	2,869.00	2,869.00 (2,428.08)
	XI. Basic and diluted earnings per share	10.38	6.84	(2.04)	17.22	(4.06)	{5.08)

Corporate Office : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036 ·Phone: 6611 2200/290 Website : www.lykalabs.com · Email: enquiry@lykalabs.com

Particulars		As at 30th September, 2021	(~in lakh)
ASSETS			As at 31st March, 2021
	1 Non-Current Assets
(a)	Property, Plant and Equipment	6,831.46	6,658.66
(b)	Capital Work- In· Progress	1,629.57	1,618.18
(c)	Intangible assets	2,726.39	2,874.87
(d)	Intangible assets under development	821.76	821.76
		12 009.18	11973.47
(e)	Financial Assets
	(i) Investments	3,240.30	3,240.30
	(ii) Other Financial Assets	1,398.49	1,372.44
(f)	Other Non Current Assets	110.42	140.56
(g)	Non Current Tax Assets	411.48	414.71
{h)	Deferred tax assets( net)	887.76	1622.07
		6 048.45	6 790.08
2 Current Assets
(a) (b)	Inventories	823.20	429.86
	Financial Assets (i) Investments
	(ii) Trade Receivables	0.77 1,777.86	0.77
	(iii) Cash and Cash Equivalents	1,052.76	989.91 652.84
	(iv) Loans	35.65	5.70
	(v) Other Financial Assets	140.38	96.47
{c)	Other Current Assets	549.19	397.95
		4 379.81	2 573.50
Total Assets		22 437.44	21337.05
	EQUITY AND LIABILITIES
Equity
	(a) Equity Share Capital	2,869.00	2,869.00
	(b) Other Equity	2,505.12	(2 428.08)
		s 374.12	440.92
LIABILITIES
	1 Non-Current Liabilities
(a)	Financial liabilities
	(i) Borrowings (ii) Other Financial liabilities	4,369.89 589.92	15,105.54 954.25
	(iii) Lease Liabilities	57.68	92.98
(b)	Provisions	214.30	268.17
		5 231.79	16 420.94
	2 Current Liabilities
(a)	Financial liabilities
	(i) Borrowings	7,863.00	1,011.94
	(ii) Trade Payables due to :
	- Micro and Small Enterprise	511.55	309.58
	- Ot her than Micro and Small Enterprise	645.26	892.38
	(iii) Other Financial liabilities	2,154.28	1,871.08
{b)	Other Current liabilities	483.93	228.12
(c)	Provisions	173.51 11831.53	162.09
			4 475.19
	Total Equity and Liabilities	22 437.44	21337.05

Corporate Office : Ground ftoor, Spencer Building, 30, Forjett Street, Grant Road (West}, Mumbai - 400 036 · Phone : 6611 2200/290 Website: www.lykalabs.com ·Email: enquiry@lykalabs.com

Particulars				(~in lakh
	Half Year ended 3oth		Half Year ended 30th SEm_tember 2020
A. Cash Flow from O(!erating Activities	September 2021
(Loss) for the year/ period before tax		5,680.14		(1,153.85)
Adjusted for
Depreciation	413.94		405.19
Interest Income	(28.08)
Finance Cost	1,241.69		(67.21) 1,272.17
Provision for Doubtful Trade Receivables & Advances	7.43
Provision I Credit Balance no longer required Written Back	-		27.09 1.18
Exchange rate fluctuation	(18.03)
Exceptional Items	115.27		0.12
Return on Investment	-		(0.01)
		1732.22		1,638.53
Operating profit before working capital change		7,412.36		484.68
Changes in Working Capital :
{Increase) I Decrease in Other Non-Current Financial Assets	(138.03)		(26.72)
(Increase) I Decrease in Other Non-Current Assets	30.13		(42.32)
(Increase) I Decrease in Inventories	(393.34)		129.83
(Increase) I Decrease in Trade and other receivables	(750.35)		(27.79)
{Increase) I Decrease in Other Current Financial Assets	(43.91)		(2.10)
(Increase) I Decrease in Other Current Assets	(151.25)		(85.42)
(Increase) I Decrease in Current Loans	(29.95)		(19.67)
Increase I (Decrease) in Other Non-Current Financial Liabilities	1.37		(1.01)
Increase I (Decrease) in Non-Current Provisions	(53.87)		28.03
Increase I (Decrease) in Trade Payables	(45.15)		(220.22)
Increase I (Decrease) in Other Current Financial Liabilities	330.39		(148.19)
Increase I (Decrease) in Other Current Liabilities	255.81		237.61
Increase I (Decrease) in Current Provisions	(28.22)		(72.85)
		_11 016.3?1		(250.82)
Cash generated from operations		6,395.99		233.86
Net Income Tax Payment	3.24	3.24	(15.56)	{15.56)
Net cashflow from operating activities (A)		6,399.23		218.30
B. Cashflow for Investing activities
Purchase of fixed assets	(452.93)		(40.75)
Interest Received	28.08		67.22
Net cash used in Investing act ivities (B)		(424.85)		26.47
C. Cash flow from Financing activities
Proceed from I (Repayment) of Non Current Borrowings Net	(4,685.99)		-
Proceed from I (Repayment) of Current Borrowings Net	400.40		48.17
Proceeds from Issue of Equity Shares net {Including Premium)	-		-
Interest Paid	(1,288.88)		(399.83)
Net cash used in Financing activities (C)		_15574.4~		(351.66
Net (decrease) I increase in cash and cash equivalents (A+B+C)		399.92		(106.89
cash and Cash Equivalents at the beginning of the year/period
Cash and Cash Equivalents		11.66		13.81
Earmarked Balances		641.18		826.62
		652.84		840.43
Cash and Cash Equivalents at the end of the year/period
Cash and Cash Equivalents Earmarked Balances		11.02		92.91
		1041.74		640.63

lyka labs limited Unaudited Cash Flow Statement for the Half Year Ended 30th September 2021 ^I

1052.76

733.54

Notes:

• 1. The above unaudited standalone financial results as reviewed by the Audit Committee at their meeting and have been approved and taken on record at the meeting of the Board of Directors held on 29th October 2021.
• 1. Scheme of Merger of Lyka Healthcare Limited, a wholly owned subsidiary ('the Scheme' or 'business combination') with Lyka Labs Limited, holding company was approved by the National Company Law Tribunal ('NCL T') vide its order dated 12th October 2020. The appointed date as per the NCL T approved Scheme is 1st April 2020. As per the requirements of Appendix C to lnd AS 103 "Business Combination", the business combination has been accounted for as if it had occurred from the date of acquisition of control i.e. 1st April 2020. Accordingly, the accounts for the quarter & half year ended 301 h September 2020 have been restated by the Company after recognising the effect of the merger.

3. Exceptionalltems:

Exceptional Items consist of: (Rs. in Lakhs)

Sr. No	Particulars	Quarter ended 30th September 2021
	1 Irrecoverable advances I receivables I payable Written Off I Written Back (Net)	115.27
	2 Provision for Sales Tax Assessment Liabilities	89.04
	Total	204.31

1. The Company operates in one reportable business segment i.e. "Pharmaceuticals".

2. 1. The figures for previous year/ period have been regrouped I rearranged wherever considered necessary.
3. 1. The statutory auditors of Lyka Labs Limited have expressed an unqualified opinion on the unaudited standalone financials results for the quarter ended 30th September 2021.
4. 1. The Company continues to closely monitor the impact of the COVID-19 pandemic on all aspects of its business, including how it has impacted and will impact its customers, employees, vendors, and business partners. The management has exercised due care, in concluding on significant accounting judgements and estimates, inter-alia, recoverability of receivables, assessment for impairment of investments, intangible assets, inventory, based on the information available to date, both internal and external, while preparing the Group's financial results for the quarter ended 30th September 2021.

<?,., ~~ ~~ f'~· Mumbai Kunal N.

29th October 2021 (Managing Director)

D. KOTHARY & CO. Chartered Accountants

Independent Auditor's Review Report on the Ouarterly and Half yearly Unaudited Standalone 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 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 Sep, 2021 and half year ended from 01st April 2021 to 30th Sep, 2021 (the "Statement") (which includes the Statement of Company's branch at Ankleshwar reviewed by other auditors and relied upon by us, after making such changes as are considered necessary for incorporation) attached herewith, 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 Regulation").
• The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the Circular is the responsibility of the Company's management and 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.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. 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 primarily 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 conducted 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 identified in audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as paragraph 3 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 Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For D. Kothary & Co. Chartered Accountants Firm Registration No. 105335W 1lm

Mehul N. Patel Partner Membership No. 132650 UDIN: 21132650AAAAGT6273

Place: Mumbai Date: 29th October, 2021

Corporate Office : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036 ·Phone: 6611 2200/290 Website : www.lykalabs.com • Email: enquiry@lykalabs.com

							(l{ in lakh)
	Particulars	30th September, 2021	Quarter Ended 30th June, 2021 . {Unaudited} lUnauditedl !Unaudited) !Unaudited) I (Unaudited!	30th 2020	30th September, September, September, 2021	Half Year Ended 30th 2020	Year Ended 31st March, 2021 (Audited)
I.	Revenue
	Revenue from Operations	7,388.94	4,943.67	1,745.59	12,332.62	3,517.51	8,625.13
	Other Income	68.53	47.01	36.32	115.54	72.27	156.17
	II. Total Income	7 457.47	4 990.68	1781.91	12 448.16	3 589.78	8 781.30
	Ill. Expenses
	(a) Cost of Materials Consumed	802.32	672.47	202.91	1,474.79	529.87	1,231.26
	(b) Purchase of Stock in trade	692.79	539.31	477.33	1,232.10	833.20	2,259.80
	(c) Change in inventories of finished goods, work-in-progress and stock-in-trade,	49.52	(127.01)	62.73	(77.49)	177.74	305.61
	(d) Employee benefits expense	466.96	446.78	340.34	913.74	667.32	1,456.56
	(e) Finance Costs	557.35	692.62	659.62	1,249.97	1,298.00	2,593.77
	(f) Depreciation and amortisation expense	351.69	213.09	210.65	564.78	418.89	832.38
	(g) Other expenses	814.32	422.33	316.25	1,236.65	566.64	1,403.54
	Total Expenses	3 734.95	2 859.59	2 269.83	6 594.54	4 491.66	10 082.92
	IV. Profit I (loss) before Exceptional Items and Taxes (II - Ill)	3,722.52	2,131.09	{487.92)	5,853.62	{901.88)	(1,301.62)
	v. Exceptional Items {Net)	389.36	-	48.28	389.36	48.65	112.79
	VI. Profit I (Loss) before Tax	3 333.16	2131.09	(536.20)	5 464.26	(950.531	11414.41
	VII. Non Controlling Interest	(75.79)	{6.89)	2.89	(82.67)	61.75	146.38
	VIII. Profit I (Loss) before Tax	3 408.95	2137.98	(539.09	5 546.93	11012.28	(1 560.79)
	IX. Deferred Tax	565.63	182.91	35.87	748.54	30.14	{405.34)
X.	Net Profit I {Loss) after Tax	2 843.32	1955.07	(574.96	4 798.39	11 042.42)	11155.45)
XI.	Other Comprehensive Income (Net of Tax) - Net Credit I (Charge)	(3.82)	(8.82)	{10.25)	{12.64)	{10.25)	10.97
	XII. Total Comprehensive Income I (Loss)	2 839.50	1946.25	1585.21)	4 785.75	11 052.67)	(1144.48)
	XIII. Paid up Equity Share Capital {Face value Rs.10/- each) Other Equity	2,869.00	2,869.00	2,869.00	2,869.00	2,869.00	2,869.00 (5,448.67)
	XIV. Basic and diluted earnine:s per share	9.90	6.80	(2.01)	16.71	(3.65)	(4.07)

Corporate Office : Ground floor, Spencer Building, 30, o~ett Street, Grant Road (West), Mumbai - 400 036 • Phone : 6611 2200/290 Website : www.lykalabs.com • Email : enquiry@lykalabs.com Heafttt.-an Tbruu~ fnuovatton

	Particulars	As at 30th September, 2021	As at 31st March, 2021
	ASSETS
	1 Non-Current Assets
	(a) Property, Plant and Equipment	7,066.04
	(b) Capital Work- In- Progress	1,629.57
	(c) Intangible assets	2,921.28
	(d) Intangible assets under development	821.76
		12 438.65	12 394.52
	(e) Financial Assets
	(i) Investments	0.89
	(ii) Loan	0.96
	(ii) Other Financial Assets	1,401.76
	(f) Other Non Current Assets
		110.42
	(g) Non Current Tax Assets	545.14
	(h) Deferred tax assets( net)	886.06 2 945.23
	2 Current Assets
	(a) Invent ories
		823.20
	(b) Financial Assets (i) Investment s
		0.77
	(ii) Trade Receivables	1,575.36
	(iii) Cash and Cash Equivalents	1,119.86
	(iv) Loans	6.74
	(v) Other Financial Assets	135.97
	(c) Other Current Assets	741.19
		4403.09
	Total Assets	19 786.97	19 001.21
	EQUITY AND LIABILITIES
	Equity
	(a) Equity Share Capital	2,869.00
	(b) Other Equity	(662.921
	Equity attributable to owners of the company	2206.08
	(c) Non - Controlling Interest	(12.25}
		2193.83
	LIABILITIES
	1 Non-Current Uabilities
	(a) Financial Liabilities
	(i) Borrowings	4,492.00
	(ii) Other Financial liabilities	626.97
	(iii) Lease liabilities	57.68
	(b) Provisions	314.77
		5 491.42
	2 Current Liabilities
	(a) Financial Liabilities
	(i) Borrowings	7,912.14
	(ii) Trade Payables due to :
	- Micro and Small Enterprise	536.77
	- Other than Micro and Small Enterprise	715.97
	(iii) Other Financial Liabilities	2,161.66
	(b) Other Current Liabilities	590.49
	(c) Provisions	184.69
		12 101.72
~~}.~	~ _ 1 1\ Total Equity and Liabilities	19 786.97

I

Corporate Office : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 036 ·Phone: 6611 2200/290 Website: www.lykalabs.com ·Email: enquiry@lykalabs.com

lyka labs limited
Unaudited Consolidat ed Cash Flow Statement for the Half Year Ended 30th September 2021 I

Particulars	Half Year Ended 30th		Half Year Ended 30th
	September, 2021		September, 2020
A. Cash Flow from O(;!erating Activities
(loss) for the year I period before tax		5,464.25		{950.53)
Adjusted for
Depreciation	564.78		418.89
Interest Income	(29.85)		(55.81)
Finance Cost	1,249.97		1,298.00
Provision for Doubtful Trade Receivables & Advances	18.42		21.85
Provision I Credit Balance no longer required Written Back	-		(0.18)
Exchange rate fluctuation	(30.37)		-
Exceptional Items	115.27		0.12
Return on Investment	-		(0.01)
		1888.22		1682.86
Operating profit before working capital change		7,352.47		732.33
Changes in Working Capital :
(Increase) I Decrease in Other Non-Current Financial Assets	(137.53)		(27.08)
(Increase) 1 Decrease in Other Non-Current Assets	31.03		(41.40)
(Increase) I Decrease in Inventories	(392.58)		163.07
(Increase) I Decrease in Trade and other receivables	(663.58)		89.74
(Increase) I Decrease in Other Current Financial Assets	(42.45)		(1.24)
(Increase) I Decrease in Other Current Assets	52.63		(143.72)
(Increase) I Decrease in Non-Current Loans	10.88		(1.31)
(Increase) I Decrease in Current Loans	0.00		0.13
Increase I (Decrease) in Other Non-Current Financial Liabilities	1.37		(1.01)
Increase I (Decrease) in Non-Current Provisions Increase I (Decrease) in Trade Payables	(51.47)		30.38
Increase I (Decrease) in Other Current Financial Liabilities	(219.19) 338.41		(200.48) (184.31)
Increase I (Decrease) in Other Current Liabilities	261.39		26.91
Increase I (Decrease) in Current Provisions	(30.62)		(75.25)
		{841.721		(365.57)
Cash generated from operat ions		6,510.75		366.76
Net Income Tax Payment	(11.471	(11.47'	(18.62)	(18.6~
Net cashflow from operating activities (A)		6,499.28		348.14
B. Cashflow for Investing activities
Purchase of fixed assets	(612.19)		(40.75)
Interest Received	29.85		55.82
Net cash used in Investing activities (B)		(582.34)		15.07
C. Cashflow from Financing activities
Proceed from I (Repayment) of Non Current Borrowings Net	(4,594.40)		-
Proceed from I (Repayment) of Current Borrowings Net	411.87		(215.67) -
Proceeds from Issue of Equity Shares net (Including Premium)	(1,329.90)		(398.06)
Interest Paid Net cash used in Financing activities (C)		{5 512.43)		(613.73
Net (decrease ) I increase in cash and cash equivalents (A+B+C)		404.51		(250.52'
Cash and Cash Equivalents at the beginning of the year/period
Cash and Cash Equivalents		23.59		17.93
Earmarked Balances		691.77		974.36
		715.36		992.29
Cash and Cash Equivalents at the end of the year/period
Cash and Cash Equivalents		17.53		100.57
Earmarked Balances		1102.34		641.20
~		1119.87		741.77

Notes:

• 1. The above unaudited consolidated financial results as reviewed by the Audit Committee at their meeting and have been approved and taken on record at the meeting of the Board ofDirectors held 2911' October 2021.
• 1. The Group operates in one reportable business segment i.e. "Pharmaceuticals".
• 1. During the quarter Lyka BDR International Limited (Subsidiary Company) has amortised Intangible Fixed Assets on the basis of Life of Export Registration , hence Depreciation for the quarter is higher by Rs.l3l.67 Lacs.

4. Exceptionalltems:

Exceptional Items consist of: (Rs. in Lakhs)

Sr. No	Particulars	Quarter ended 30'h September 2021
I	Irrecoverable advances I receivables I payable Written Off I Written Back (Net)	300.31
	2 Provision for Sales Tax Assessment Liabilities	89.04
	Total	389.35

• 1. The figures for previous year have been regrouped I rearranged wherever considered necessary.
• 1. The statutory auditors of Lyka Labs Limited have expressed an unqualified opinion on the unaudited consolidated financials results for the quarter ended 30th September 2021.
• 1. The Group continues to closely monitor the impact of the COYfD-19 pandemic on all aspects of its business, including how it has impacted and will impact its customers, employees, vendors, and business partners. The management has exercised due care, in concluding on significant accounting judgements and estimates, inter-alia, recoverability of receivables, assessment for impainnent of investments, intangible assets, inventory, based on the infonnation available to date, both internal and external, while preparing the Group's financial results for the quarter ended 30th September 202 1.

. Gandhi (DIN 01516156) (Managing Director)

For LYKA LABS LIMITED

Mumbai 29'h October, 2021

D. KOTHARY & CO. Chartered Accountants

Independent Auditor's Review Report on the Quarterly and Half yearly 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 Lyka Labs Limited

• 1. We have reviewed the accompanying Statement of unaudited Consolidated Financial Results of Lyka Labs Limited ("the Parent"), which includes its subsidiary (the Parent and its subsidiary together referred to as 'the Group'), for the quarter ended 30th Sep, 2021 and half year ended from 01st April 2021 to 30th Sep, 2021 (the "Statement") attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Listing Regulation').
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read 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 Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, to the extent applicable.

• 1. The Statement includes the results of following entities:
• Subsidiaries
• i) Lyka BDR International Limited
• ii) Lyka Exports Limited
• 1. The accompanying statement includes the interim financial results and other financial information in respect of two subsidiaries, whose interim financial results/information reflects total assets of Rs. 1122.32 lakhs as at 30th September, 2021, total revenues of Rs. 1241.55 lakhs and Rs. 1963.51 lakhs, total net profit/(loss) after tax of Rs. (213.72) lakhs and Rs. (230.13) lakhs, total comprehensive income of Rs. (213.72) lakhs and Rs. (230.13) lakhs for the quarter ended 30^th September, 2021 and year to date from April 01, 2021 to September 30, 2021 respectively, and net cash outflows of Rs. 0.30 lakhs as at 30th September, 2021, which have been reviewed by us.

D. KOTHARY & CO. Chartered Accountants

• We did not review the interim financial results and other financial information in respect of one branch at 6. Ankleshwar, whose interim financial results/information reflects total assets of Rs. 7698.13 lakhs as at 30% September 2021, total revenues of Rs. 6295.08 lakhs and Rs. 10627.72 lakhs, total net profit after tax of Rs. 4933.20 lakhs and Rs. 8135.01 lakhs, total comprehensive income of Rs. 4933.20 lakhs and Rs. 8135.01 lakhs for the quarter ended 30^th September, 2021 and year to date from April 01, 2021 to September 30, 2021 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 conclusion, in so far as it relates to the affairs of branch is based solely on the report of other auditor. Our conclusion is not modified in respect of this matter.
• 1. Based on our review conducted and procedures performed as stated in para 3 above 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 accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standard specified 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 Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

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

Mehul N. Patel Partner Membership No. 132650 UDIN: 21132650AAAAGU6657

Place: Mumbai Date: 29th October, 2021