Marksans Pharma Ltd. — Audit Report / Information 2021

May 31, 2021

BSELimited Corporate Relation Department Phiroze Jeejeeboi Towers, Dalal Street, Mumbai - 40000l. Scrip Code: 524404

National Stock Exchange of India Limited Listing Department Exchange Plaza, C-l, Block-G, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051. Symbol: MARKSANS

Sub: Audited Financial Results for the quarter and financial year ended 3151 March, 2021 and Auditors Report thereon.

In terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, kindly find enclosed herewith Audited Financial Results (both Standalone and Consolidated) for the quarter and financial year ended 3151 March, 2021 approved by the Board of Directors at its meeting held today i.e. 3151 May, 2021 along with Auditors Report thereon.

In this connection, we hereby confirm that the Statutory Auditors have given their reports on the Audited Annual Financial Results for the financial year ended 3151 March, 2021 (both Standalone and Consolidated) with unmodified opinion.

Yours faithfully, For Marksans Pharma Limited

,0fQwJ£

Harshavardhan Panigrahi < Company Secretary

Marksans Pharma Ltd.

11th Floor, "GRANDEUR", Opp. Gundecha Symphony, Veera Desai Extension Road, Oshiwara, Andheri (W), Mumbai - 400 053 • Tel.: +91 224001 2000 • E-mail: info@marksanspharma.com www.marksanspharma.com

CHARTERED ACCOUNTANTS

901/902, Regent Chambers, Nariman Point, Mumbai - 400 02l. T : +91 22 4343 9191/+9122 2283 2626 F : +91 22 2283 2727 bhutashah.com

Independent Auditor's report on Quarterly and year-to-date Audited Standalone Financial Results of Marksans Pharma Limited Pursuant to the Regulation 33 and 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To,

The Board of Directors of Marksans Pharma Limited

We have audited the accompanying statement of audited standalone financial results of Marksans Pharma Limited ("the Company") for the quarter ended 31 March, 2021 and year ended 31 March, 2021 together with the notes thereon ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

• a) is presented in accordance with the requirements of the Listing Regulations in this regard; and
• b) gives a true and fair view in conformity with the applicable Accounting Standards and other accounting principles generally accepted in India, of the standalone net profit and other comprehensive income and other financial information of the Company for the quarter ended 31 March, 2021 and year ended 31 March, 2021.

We conducted our audit in accordance with the Standards on Auditing ('SAs') specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements 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 Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

The Statement has been prepared on the basis of the standalone annual financial statements and has been approved by the Company's Board of Directors.

CHARTERED ACCOUNTANTS

Audit Report for the quarter and year ended 31 March, 2021 Marksans Pharma Limited

The Company's Board of Directors are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the Indian accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other Audit Report for the quarter and year ended 31 March, 2021.

accounting principles generally accepted in India and in compliance with Regulation 33 and 52 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 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 statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors is 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.

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are 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 the Statement.

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 Statement, 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

CHARTERED ACCOUNTANTS

Audit Report for the quarter and year ended 31 March, 2021 Marksans Pharma Limited

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 financial controls relevant to the audit inorder to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of 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 Company's ability 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 Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

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.

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.

CHARTERED ACCOUNTANTS

Audit Report for the quarter and year ended 31 March, 2021 Marksans Pharma Limited

The Statement includes the financial results for the quarter ended 31 March, 2021 being the balancing figures between the audited figures in respect of the full financial year ended 31 March, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subject to limited review by us, as required under the Listing Regulations.

For Bhuta Shah & Co LLP Chartered Accountants Firm's Registration Number: 101474W / W1 001 00

Tejas Laliwala Partner Membership Number: 127487 leAl UDIN: 21127487AAAAFA7203

Mumbai 31 May, 2021

CHARTERED ACCOUNTANTS

901/902, Regent Chambers, Nariman Point, Mumbai - 400 021. T: +91 22 4343 9191/+9122 2283 2626 F : +91 22 2283 2727 bhutashah.com

Independent Auditor's report on Quarterly and year-to-date Consolidated Financial Results of Marksans Pharma Limited Pursuant to the Regulation 33 and 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To,

The Board of Directors of Marksans Pharma Limited

We have audited the accompanying statement of quarterly and year to date audited consolidated financial results of Marksans Pharma Limited ("the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter ended 31 March, 2021 and for the year ended 31 March, 2021 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate financial statements / financial information of the subsidiaries referred to in Other Matter section below, the Statement

Sr. No.	Name of Subsidiaries
1	Marksans Pharma (UK) Limited (consolidated)
2	Marksans Pharma Inc. (consolidated)
3	Nova Pharmaceuticals Australasia Private Limited

• b) are presented in accordance with the requirements of the Listing Regulations in this regard; and
• c) gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the quarter ended 31 March, 2021 and the consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31 March, 2021.

We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under Section 143(10) of the Companies Act, 2013, as amended (the "Act"). Our responsibilities under

Audit Report for the quarter and year ended 31 March, 2021 Marksans Pharma Limited

those Standards are further described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Results" section of our report. We are independent of the Group in accordance with the 'Code of Ethics' issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements 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 Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

The Statement has been prepared on the basis of the consolidated annual financial statements and has been approved by the Company's Board of Directors.

The Holding Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive income I loss and other financial information of the Group in accordance with the applicable 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 and 52 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group are responsible for assessing the Group'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 respective Board of Directors either intend to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Boards of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Audit Report for the quarter and year ended 31 March, 2021 Marksans Pharma Limited

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results as a whole, are 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 the Statement.

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 Statement, 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, orthe override of internal control.
• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Group has adequate internal financial controls system in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of 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 Group 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 Group to cease to continue as a going concern.

Audit Report for the quarter and year ended 31 March, 2021 Marksans Pharma Limited

• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial statements of such entities included in the Statement of which we are independent auditors. For the other entities or business activities included in the Statement, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company included in the Statement of which we are independent auditors 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.

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.

We also performed procedures in accordance with the circular No CIR/CFD/CMD1 144/2019 issued by the SESI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

(a) The accompanying Statement includes the audited financial statements and other financial information, in respect of two subsidiaries (including step down subsidiaries), whose financial statements 1 information, without giving effect to elimination of intra-group transaction, reflect total assets of INR 7,926.42 million as at 31 March, 2021, total revenue of INR 2,766.35 million and INR 11,539.65 million, total net profit after tax of INR 613.56 million and INR 1,632.70 million and total comprehensive income of INR 613.56 million and INR 1,632.70 million for the quarter and the year ended on that date respectively, and net cash flows INR 484.26 million for the year ended that date, as considered in the Statement which have been audited by their respective independent auditors.

The independent auditor's report on the financial statements and other financial information of these entities have been furnished to us by management and our opinion on the Statement in so

Audit Report for the quarter and year ended 31 March, 2021 Marksans Pharma Limited

far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely onthe reports of such auditors and the procedures performed by us as stated in paragraph above.

These subsidiaries are located outside India whose financial statements and other financial information have been prepared in accordance with the accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company's management has converted the financial statements and other financial information of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Holding Company's management. Our opinion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by management of the Holding Company and audited by us.

(b) The accompanying Statement includes the unaudited financial statements and other financial information, in respect of a subsidiary, whose financial statements and other financial information, without giving effect to elimination of intra-group transaction, reflect total assets of INR 782.25 million as at 31 March, 2021, total revenue of INR 412.46 million and INR 1363.12 million, total net profit after tax of INR 13.07 million and INR 64.97 million and total comprehensive income of INR 13.07 million and INR 64.97 million for the quarter and the year ended on that date respectively, and net cash flows INR 102.10 million for the year ended that date, as considered in the Statement which have been furnished to us by the Board of Directors.

These unaudited financial statements and other financial information of the entity have been approved and furnished to us by management and our opinion 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 such unaudited financial statements and other information. In our opinion and according to the information and explanations given to us by management, these financial statements and other financial information are not material to the Group after considering the impact of elimination of intra-group transactions.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the financial information certified by management.

Audit Report for the quarter and year ended 31 March, 2021 Marksans Pharma Limited

(c) The Statement includes the results for the quarter ended 31 March, 2021 being the balancing figures between the audited figures in respect of the full financial year ended 31 March, 2021 and the published unaudited year-to-date figures up to the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For Bhuta Shah & Co LLP Chartered Accountants Firm's Registration Number: 101474W / W1 001 00

TEJAS . ~:~~~byruM CHANORAKAN lAl.lWAl.A T lAUWAlA .' .;.~~~~~;

Tejas Laliwala Partner Membership Number: 127487 ICAI UDIN: 21127487AAAAFB6671

Mumbai 31 May, 2021

MARKSANS PHARMA LIMITED Registered Office'11th floor Grandeur Veera Denl Extension Road Oshiwara Andheri lWest!. Mumbai..••00053 rCIN:L2411 OMH1992PLC0663641 Telephone No,' 022..••0012000 Fax No.:022 ..••001 2011 E-mail: info@marksanspharma.com

					STANDALONE
		QUARTER ENDED		YEAR ENDED		QUARTER ENDED		YEAR ENDED
		31 Mar <h, 2021<="" th="">31 December, 202031 Mar<h,2020< th="">31 Mar<h, 2021<="" th="">31 March, 202031 Mar<h,2021< th="">31 December, 202031 March, 202031 March, 2021 31 March, 2020</h,2021<></h,></h,2020<></h,>	31 December, 2020	31 Mar <h,2020< th="">31 Mar<h, 2021<="" th="">31 March, 202031 Mar<h,2021< th="">31 December, 202031 March, 202031 March, 2021 31 March, 2020</h,2021<></h,></h,2020<>	31 Mar <h, 2021<="" th="">31 March, 202031 Mar<h,2021< th="">31 December, 202031 March, 202031 March, 2021 31 March, 2020</h,2021<></h,>	31 March, 2020	31 Mar <h,2021< th="">31 December, 202031 March, 202031 March, 2021 31 March, 2020</h,2021<>	31 December, 2020	31 March, 2020	31 March, 2021 31 March, 2020
Sr. No.	PARTICULARS	(AUDITED)	(UNAUDITED)	(AUDITED)	(AUDITED)	(AUDITED)	(AUDITED)	(UNAUDITED)	(AUDITED)	(AUDITED)	(AUDITED)
	1 Revenue from Operations	1,375.83	1,684.55	1.136.37	5,995.48	4,334.15	3,301.98	3,583.63	3,353.49	13,761.82	11,342.09
	2 Other income	119.08	62.41	(0.83	311.56	1.73	60.12	f31.68	0.26	66.94	3.28
	3 Total income (1+21	1.494.91	1 746.96	1135.54	6,307.04	4.335.88	3.362.10	3,551.95	3.353.75	13828.76	11.345.37
	4 Expenses
	Cost of material consumedPurchase of stock-in-trade	744.9099.99	772.47146.10	574.13123.03	2,912.93460.66	2,115.84394.60	750.431,487.22	1,118.51666.66	1,454.0567.18	4,197.643,115.70	3,942.841,206.00
	Changes in inventories of finished goods, wor1<-in-process andstock-in-trade	(45.96)	50.79	(82.12)	5.54	(56.30)	(970.41)	(370.76)	(43.09)	(1,362.78)	529.47
	Employee benefits expense	156.74	138.31	123.43	546.39	485.06	628.87	478.56	461.81	1,973.23	1,684.16
	Finance costs	21.38	10.98	16.73	53.45	72.92	28.28	16.75	20.35	79.86	87.46
	Depreciation and amortisation expense	41.45	40.34	34.63	151.93	116.44	13.33	85.77	96.26	361.51	266.62
	Other exoenses	152.37	228.06	214.01	932.84	680.05	452.14	780.07	721.56	2441.96	2057.09
	Total Expenses	1170.87	1 387.05	1 003.84	5063.74	3808.61	2389.86	2,775.56	2,778.12	10,807.12	9,773.64
	5 Profrt before tax f3-4)	324.04	359.91	131.70	1 243.30	527.27	972.24	776.39	575.63	3021.64	1.571.73
	6 Tax expense:
	1) Current Year	76.58	78.99	28.97	281.88	116.00	174.97	197.09	111.71	666.94	324.06
	2\ Eartier vear			3.75		14.53			3.75		(4.53
	3~Deferred tax	10.58	f10.10	24.87	122.39	36.77	2.29	10.10	32.77	30.68	44.66
	Tota' tax eXDenses	87.16	68.89	57.59	259.49	148,24	177.26	186.99	148.23	636.26	364.19
	7 Profrt for the period (5-6)	236.88	291.02	74.11	983.81	379.03	794.98	589.40	427.40	2,385.38	1,207.54
	Other Comcrehensiveincome
	Items that will not be recla~sified to crofit or loss	(4.51	0.63	2.17	(2.62	2.51	(4.51	0.63	2.17	12.62	2.51
	Income tax relating to above Items that win not be reclassified torofrt or loss	1.14	(0.16	10.88	0.66	fO.88	1.14	10.16	10.88	0.66	10.88
	Items that will be reclassified to profit or loss						20.18	f90.87	11.71	6.64	64.01
	8 Other Comcrehensiveincome	(3.37	0.47	1.29	11.96	1.63	16.81	190.40	13.00	4.68	65.64
	9 Total ComprehensiveIncome for the period {7+8}	233.51	291.49	75.40	981.85	380.66	811.79	499.00	440.40	2,390.06	1,273.18
	10 Total Comprehensiveincome attributable to:·
	Non-Controllina interests	-	-	-		-	5.23	6.69	18.55	25.99	37.33
	ONners of the Comeanv	233.51	291.49	75.40	981.85	380.66	806.56	492,31	421.85	2364.07	1.235.85
	11 Paid up equity share capital (Face Value ~1 each)	409.31	409.31	409.31	409.31	409.31	409.31	409.31	409.31	409.31	409.31
	Other eQuity				5587.86	4646.94				8455.64	5950.83
	12 Earnings Per Share of ~1 eachBasic	0.58	0.71	0.18	2.40	0.93	1.93	1.42	1.00	5.76	2.86
	Diluted	0.58	0.71	0.18	2.40	0.93	1.93	1.42	1.00	5.76	2.86

1 The financial results for the quarter and year ended 31 March, 2021 were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 31May, 2021. The above results have also been audited by the statutory auditors of the Company in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended.There is no qualification in the auditor's reporton this statement of financial results.

2 This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS), as amended, prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.

3 The company operates in single business segment of research, manufacturing and marketing of pharmaceutical formulation.

4 The Board of Directors, in it's meeting held today, have recommended for approval of members a dividend ofRs. 0.25 per equity share ofRe 11-each (25%) for the Financial Year 2020-21.

5 The Consolidated financial result includes financial result of subsidiaries namely Marksans Pharma (UK) Ltd, Marksans Pharma Inc, Nova Pharmaceuticals Australasia Pty Ltd (and also stepdown subsidiaries).

6 The Company/ Group has considered internal and external information while finalizing various estimates and recoverability of assets in relation to itsfinancial statement captions upto the date of approval of the financial results by the Board of Directors. The impact of Covid-19 may bedifferent from what is estimated as at such date of approval of the financial results and the Company/Group will continue to monitor any materialchanges to future economic conditions.

7 Previous period's figures have been regrouped / reclassified, wherever necessary to make them comparable with the current year.

8 The figures for the quarter ended 31 st March, 2021 and 31 st March, 2020 are the balancing figures between the audited figures in respect of the full financial year and the unaudited published figures upto nine months of the relevant financial year.

Mark Saldanha Chairman & Managing Director DIN: 00020983

Date: 31May, 2021 Place: Mumbai www.marksanspharma.com

CERTIFIED TRUE COpy

"orMARKSrJJd:W-0

HarSha1~~n Panigrahi Gompany Secretary & Legal Manager

Statement of Financial Position	Standaloneas at		Consolidatedas at
	31 March, 2021	31 March, 2020	31 March, 2021	31 March, 2020
	AUDITED	AUDITED	AUDITED	AUDITED
ASSETS
Non-currentassets
PropertY. plant and equipment	1,108.26	994.43	2,344.05	2191.10
Capital work-in-progress	-	-	56.00	-
Richt to use assets	140.16	109.04	140.16	109.04
Intanqible assets	42.43	48.35	609.42	727.02
Intanqible assets under development	-	-	60.80	-
Financialassets
Investments	2,360.74	2,360.74	-	-
Loans	-	-	-	-
Other financial assets	25.63	20.48	25.63	33.02
Deferred tax assets (nell	-	-	7.99	6.34
Other non-currentassets	15.95	24.27	15.95	24.27
Total non-currentassets	3,693.17	3,557.31	3,260.00	3,090.79
Currentassets
Inventories	936.86	746.02	4,043.20	2,418.44
FinancialAssets
Trade receivables	1467.89	1 618.69	2713.81	2,433.52
				937.27
Cash and cash equivalents	1,057.15	33.52	2,122.86
Other financial assets	17.23	2.04	17.23125.42	2.04
Other current assets	13.25	40.22		144.62
Total currentassets	3,492.38	2,440.49	9,022.52	5,935.89
TOTAL ASSETS	7,185.55	5,997.80	12,282.52	9,026.68
EQUITY AND LIABILITIES
EQUITY
Equitv share capital	409.31	409.31	409.31	409.31
Other equitv	5,587.86	4646.94	8455.64	5950.83
Equitv attributableto ownersof the Company	5,997.17	5,056.25	8,864.95	6,360.14
Non-controllinqinterests		-	188.57	131.10
Total equityLIABILITIES	5,997.17	5,056.25	9,053.52	6,491.24
Non-currentliabilities
Financialliabilities
Lease liabilitv	83.36
Other financial liabilities		75.21	93.26	75.21
	50.00	50.00	50.00	50.00
Provisions	21.11	14.74	21.10	14.74
Deferred tax liabilities (net)Total non currentliabilities	84.88239.35	107.94247.89	80.63244.99	107.94247.89
CurrentliabilitiesFinancialliabilities
Borrowings			187.40	188.43
Trade payablesTotal outstandingdues to Micro, Small & Medium
Enterprises	14.03	1.96	14.03	1.96
Total outstandingdues to other than Micro, Small &Medium Enterprises	627.52		1,672.61
Lease Liabilitv	60.37	564.5732.41	60.37	1,101.3332.41
Other financial liabilitiesOther current liabilities	145.29	76.83	730.84	556.21
Provisions	-9.68	-5.51	-18.55	-288.64
Current tax liabilities (net)	92.14	12.38	300.21	118.57
Total currentliabilitiesTotal liabilities	949.031,188.38	693.66941.55	2,984.013,229.00	2,287.552,535.44
TOTAL EQUITY AND LIABILITIES	7,185.55	5,997.80	12,282.52	9,026.68

ANNEXURE-1

MARKSANS PHARMA LIMITED

Standalone Cash Flow Statement for the year ended 31st March, 2021 ANNEXURE-2

		(~in Million)
	Particulars	Year ended	Year ended
		31 March, 2021	31 March, 2020
	A. Cash Flow from OperatingActivities
	Profitbefore tax	1,243.30	527.27
	Adjustments to profit before tax:
	-Depreciationand amortisationexpenses	151.93	116.44
	-Exchange Loss on foreign exchange fluctuations	9.89	-
	-Profit on sale of Property, plant and equipment	(0.37)	(0.37)
	-Finance costs	53.45	72.92
	-Dividend income	(283.46)	-
	-Interest income	(9.98)	(0.26)
	-Net gain/(Ioss) arising on financial assets measured at fair value	(17.75)	0.45
	-Remeasurementof the net defined benefit plans	(2.62)	2.51
	-Bad debts written off	8.09	-
	Operatingprofitbefore workingcapitalchanges	1,152.48	718.96
	Movementsin workingcapital:
	(Increase)/Decreasein Inventories	(190.84)	(42.38)
	(Increase)/Decreasein Trade receivables	142.71	159.61
	(Increase)/Decreasein Other financial assets	(2.59)	138.66
	(Increase)/Decreasein Other assets	26.97	6.95
	Increase/(Decrease)in Trade Payable, provisions and Other Non current
	Liabilities	144.11	198.82
	Cash generatedfrom operations	1,272.84	1,180.62
	Income taxes paid (net)	(202.11 )	(104.86)
	Net cash generatedfromoperatingactivities(A)	1,070.73	1,075.75
	B Cash flow from InvestingActivities:
	Payments to acquire property, plant and equipment and intangible assets	(210.01)	(244.15)
	Proceeds from sale of property, plant and equipment and intangible assets	4.78	2.39
	Dividend income	283.46	-
	Interest income	9.98	0.26
	Net Cash Flow generatedfroml(used in) InvestingActivities(B)	88.21	(241.50)
	C Cash flow from FinancingActivities:
	Payments for redemption of preference share capital	-	(50.00)
	Dividend paid	(40.93)	(24.67)
	Repayment of short term borrowing (net)	-	(773.27)
	Repayment of lease liabilities	(40.93)	102.13
	Finance costs paid (including interest on lease liabilities)	(53.45\	(72.92'
	Net Cash Flow (used in) FinancingActivities(C)	(135.31 )	(818.73)
	Net increasein cash and bank balances(A+B+C)	1,023.63	15.52
	Cash & Bank Balancesas at 31 March,2020	33.52	18.00
	Cash & Bank Balancesas at 31 March,2021	1,057.15	33.52

Notes:

1 The Cash Flow Statement has been prepared under the "Indirect Method" as set out in fnd AS 7,' Statement of Cash Flows'.

2 The Previous year's figures have been regrouped wherever necessary in order to conform to this year's presentation.

MARKSANS PHARMA LIMITED

Consolidated Cash Flow Statement for the year ended 31 st March, 2021

	Particulars	Year ended	Year ended
		31 March, 2021	31 March, 2020
	A Cash Flow from OperatingActivities
	Profit before tax	3,021.64	1,571.72
	Adjustments to profit before tax:
	-Depreciation	361.51	266.62
	-Exchange Loss on foreign exchange fluctuations	9.67	-
	-Exchange differences in translating the financial statements of a foreign operation	188.30	64.01
	-Profit on sale of Property, plant and equipment	(0.37)	(0.25)
	-Finance costs	79.86	87.46
	-Interest income	(10.09)	(0.43)
	-Net gain/(Ioss) arising on financial assets measured at fair value	(17.75)	0.45
	-Remeasurement of the net defined benefit plans	(2.62)	2.51
	-Bad debts written off	142.83	-
	Operatingprofit before workingcapital changes	3,772.99	1,992.10
	Movementsin workingcapital:
	(Increase)/Decrease in Inventories	(1,624.76)	514.02
	(Increase)/Decrease in Trade and other receivables	(423.12)	(667.55)
	(Increase)/Decrease in Other financial assets	9.96	(19.34)
	(Increase)/Decrease in Other assets	29.91	106.70
	Minority Interest	31.48	(8.40)
	Increase/(Decrease) in Trade Payable, provisions and Other Non current Liabilities	476.26	665.73
	Cash generated from operations	2,272.71	2,583.27
	Income tax paid (net)	1485.30\	1250.00)
	Net cash generated from operatingactivities(A)	1,787.41	2,333.27
	B Cash flow from InvestingActivities:
	Payments to acquire property, plant and equipment and intangible assets	(464.24)	(599.09)
	Proceeds from sale of property, plant and equipment and intangible assets	5.19	2.82
	Interest income	10.09	0.43
	Net Cash Flow generatedfrom/ (used in) InvestingActivities(B)	(448.96)	(595.84)
	C Cash flow from FinancingActivities:
	Payments for redemption of preference share capital	-	(50.00)
	Dividend paid	(40.93)	(295.03)
	Repayment of short tenn borrowing (net)	(1.03)	(810.66)
	Repayment of lease liabilities	(31.04)	107.62
	Finance costs paid (including interest on lease liabilities)	(79.86	(87.46\
	Net Cash Flow (used in) FinancingActivities(C)	(152.86)	(1,135.54)
	Net increase in cash and bank balances(A+B+C)	1,185.59	601.89
	Cash & Bank Balances as at 31 March, 2020	937.27	335.38
	Cash & Bank Balancesas at 31 March, 2021	2,122.86	937.27

Notes:

1 The Cash Flow Statement has been prepared under the "Indirect Method" as set out in Ind AS 7,' Statement of Cash Flows'.

2 The Previous year's figures have been regrouped wherever necessary in order to conform to this year's presentation.