NCC Limited — Annual Report 2021

May 28, 2021

Ref. No.: NCCL/AFR/BM-Outcome/2021 Date : $28^{th}$ May 2021

National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G Bandra - Kurla Complex, Bandra (E) MUMBAI - 400 051. Symbol: NCC

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort MUMBAI-400 001. Code: 500294

Dear Sir,

Sub: Outcome of the Board Meeting held on 28th May, 2021

In compliance with Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith statement containing the Audited Financial Results (both standalone and consolidated) for the 4th Quarter and Financial Year ended 31st March 2021 which have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meetings held today i.e., 28th May 2021.

We also enclose a copy of the Audit Report submitted by the Statutory Auditors viz., M/s. S R Batliboi & Associates LLP, Chartered Accountants along with the declaration signed by the Company Secretary (for Audit Report with unmodified opinion) both in respect of Standalone and Consolidated Financial Results.

Further, the Board of Directors at the meeting has recommended Dividend of Rs.0.80/- (40%) per share on the Equity Share of face value of Rs.2/- each, for the Financial Year 2020-21, subject to the approval of the Members at the ensuing Annual General Meeting.

The Board, on the recommendation of the Nomination and Remuneration Committee, has also accorded in principle approval for the Re-appointment of Sri A V N Raju (DIN:00018965) Wholetime Director for a further period of 5 (five) years from the end of his present term of appointment.

The meeting of the Board of Directors of the Company commenced at 12.30 p.m and concluded at 2.45 p.m.

We are also forwarding herewith the press release being issued in connection with the Audited Financial Results.

Kindly acknowledge the receipt.

Thanking you,

Yours faithfully

For NCC Limited

M V SRINIVASA Digitally signed by M V MURTHY Date: 2021.05.2815:25:38 +05'30'

MV Srinivasa Murthy Company Secretary & EVP (L)

CIN: L72200TG1990PLC011146

Registered Office: NCC HOUSE, Madhapur, Hyderabad-500 081, Tel : 040-23268888, Fax: 040-23125555, email : ncc.ho@nccltd.in Website : www.ncclimited.com STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021

			Quarter ended		Year ended
		31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
S.No	Particulars	Audited(Refer note 8)	Unaudited	Audited(Refer note 8)	Audited	Audited
$\overline{1}$	Income
	a) Revenue from Operations	2617.72	1918.38	2181.96	7255.67	8218.80
	b) Other Income	21.15	24.47	24.06	115.60	151.27
	Total Income	2638.87	1942.85	2206.02	7371.27	8370.07
$\overline{2}$	Expenses
	a) Cost of materials consumed	874.57	618.77	783.85	2377.87	2944.69
	b) Construction expenses	297.98	230.04	307.16	883.10	928.81
	c) Sub-Contractor work bills	1005.58	694.86	651.09	2611.49	2621.36
	d) Employee benefits expense	89.85	90.33	97.14	349.35	435.23
	e) Finance costs	117.71	106.50	119.51	457.78	517.87
	f) Depreciation and amortisation expenses	43.31	43.88	43.92	174.09	177.52
	g) Other expenses	60.00	45.07	62.19	179.38	258.56
	Total Expenses	2489.00	1829.45	2064.86	7033.06	7884.04
3	Profit from operations before exceptional items and tax (1-2)	149.87	113.40	141.16	338.21	486.03
4	Exceptional Items (net)			6.71		(32.67)
5	Profit before tax (3+4)	149.87	113.40	147.87	338.21	453.36
6	Tax expense
	a) Current tax	(14.55)	45.87	54.62	7.37	100.05
	b) Deferred tax	48.93	(2.77)	(17.12)	69.71	(28.73)
	Total tax expense	34.38	43.10	37.50	77.08	71.32
$\overline{7}$	Net Profit after tax (5-6)	115.49	70.30	110.37	261.13	382.04
8	Other comprehensive income / (loss)
	Items that will not be reclassified to profit or loss
	a) Remeasurement of the defined benefit plans	(5.05)	(3.00)	(7.53)	(12.05)	(11.84)
	b) Income tax relating to items that will not be reclassified to profit or loss	(1.63)	1.05	2.62	0.82	4.13
	Items that may be reclassified to profit or loss
	a) Exchange differences on translation of foreign operations	(0.27)	(0.06)	0.52	(0.44)	0.78
	Total Other comprehensive income / (loss)	(6.95)	(2.01)	(4.39)	(11.67)	(6.93)
9	Total comprehensive income (7+8)	108.54	68.29	105.98	249.46	375.11
	Paid up Equity Share Capital (Face Value ₹ 2/- per Share)			121.97	121.97	121.97
10		121.97	121.97		5247.46	4983.66
11	Other Equity (excluding Revaluation Reserves)
12	Earnings Per Share (of ₹ 2/- each) for the period (not annualised)	1.89	1.15	1.82	4.28	6.34
	- Basic
	- Diluted	1.89	1.15	1.82	4.28	6.34

Votes

The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held on May 28, $\mathbf 1$ 2021.

The Board of Directors have recommended a dividend of ₹0.80 per equity share for the year 2020-2021, which is subject to approval of the share holders. $\overline{2}$

During the quarter, the Company's operations recovered further from the economic slowdown caused by the COVID-19 pandemic. The Company expects to recover $\overline{\mathbf{3}}$ the carrying value of the assets basing on the information available upto the date. The Company continues to monitor the economic effects of the uncertainty arising from the second wave of the pandemic while taking steps to improve its scale of execution.

The Code on Social Security 2020 and The Code on Wages 2019 ("Code") received the Presidential Assent on September 28, 2020. The effective date and related rules $\overline{a}$ of the Code have not been notified. The impact of the change, if any will be assessed and recognized post notification of the relevant provisions.

During the year, the Company has issued and allotted 18,000,000 Convertible Warrants on Preferential basis to the specified Promoters / Promoter Group at a price $\overline{\phantom{a}}$ of ₹ 59/- per warrant convertible into one Equity Share of ₹ 2/- each at a premium of ₹ 57/- as per the provisions of Chapter VII of the SEBI ICDR Regulations. The Company received the part payment (25% of total consideration) of ₹ 26.55 crores on February 12, 2021.

Tax expense for the year ended March 31, 2021 is after accounting of tax credit of ₹ 32.03 crores on receipt of intimation for assessment year 2018-19 from 6 department (quarter ended and year ended March 31, 2020 is after accounting of net tax credit of ₹ 13.45 crores and ₹ 86.54 crores respectively on receipt of assessment orders of previous years).

assessment of district purchase can its assessment of the availability of tax benefits considering the current status of the underlying projects, the Company has $\overline{7}$ elected to follow the tax rates notified under section 115BAA of the Income tax act, 1961 and has filed the return of income accordingly for the previous year. Consequently, the Company has reversed current tax provision of ₹ 57.33 crores (including ₹ 12.98 crores recognised during the nine months ended December 31, 2020); reversed MAT credit of ₹ 26.71 crores; and reversed deferred tax asset by ₹ 24.58 crores (including ₹ 1.33 crores recognised during the nine months ended December 31, 2020) during the current quarter. This matter has resulted in an increase of tax expense by ₹ 5.61 crores for the current year and a decrease in tax expense by ₹6.04 crores for the quarter ended March 31, 2021.

The figures for the quarter ended March 31, 2021 and March 31, 2020 are the balancing figures between the audited figures of the full financial years ended March $\overline{8}$ 31, 2021 and March 31, 2020 respectively and the published year to date figures up to the nine months ended December 31, 2020 and December 31, 2019 respectively.

Place : Hyderabad Date: 28.05.2021

	NCCNCC Limited
	STATEMENT OF AUDITED STANDALONE ASSETS AND LIABILITIES
			(₹ in Crores)
	Particulars	31.03.2021	31.03.2020
		Audited	Audited
A	ASSETS
	Non - current assets
	Property, plant and equipment	1038.58	1047.47
	Capital work in progress	21.53178.39	14.83
	Investment property	68.10	143.2268.10
	Investment property under construction	0.71	0.80
	Other intangible AssetsFinancial assets
		10.54	10.54
	a) Investments in Associates	980.18	878.16
	b) Other Investments	146.06	364.48
	c) Loans	139.59	209.74
	d) Trade Receivables	165.33	124.14
	e) Other financial assets	41.14	205.50
	Deferred tax assets (Net)	78.50	30.40
	Non Current tax assets (Net)Other non current assets	223.72	235.08
		3092.37	3332.46
	Total non - current assetsCurrent assets
	Inventories	526.80	514.83
	Financial assets
	a) Other Investments	15.03
		2520.60	2408.26
	b) Trade receivablesc) Cash and cash equivalents	169.56	85.34
		268.95	231.53
	d) Bank balances other than above	154.02	230.18
	e) Loansf) Other financial assets	149.01	114.28
	Current tax assets (Net)	100.31	103.77
	Other current assets	5705.87	5749.73
	Total Current assets	9610.15	9437.92
B	Total assets	12702.52	12770.38
	EQUITY AND LIABILITIES
	Equity
	Equity share capital	121.97	121.97
	Other equity	5247.46	4983.66
	Total Equity	5369.43	5105.63
	Liabilities
	Non-current liabilities
	Financial liabilities
	a) Borrowings	98.60	173.67
	b) Trade Payables	22.96	46.62
	Provisions	44.98	37.41
	Total non-current liabilities	166.54	257.70
	Current liabilities
	Financial liabilities
	a) Borrowings	1427.91	1477.86
	b) Trade payables:
	Dues to micro & small enterprises	49.84	30.793905.63
	Dues other than micro & small enterprises	3640.56336.29	336.62
	c) Other financial liabilities		48.27
	Provisions	57.14
	Current tax liabilities (net)	ä,	62.231545.65
	Other current liabilities	1654.81	7407.05
	Total current liabilities	7166.55
	Total liabilitiesTotal equity and liabilities	7333.0912702.52	7664.7512770.38

Place: HyderabadDate: 28.05.2021

AUDITED STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2021
	Year ended	(₹ in crores)Year ended
Particulars	March 31, 2021	March 31, 2020
A. Cash flows from operating activities
Profit before tax	338.21	453.36
Adjustments for:
Depreciation and amortisation expenses	174.09	177.52
Profit on sale of Property, Plant and Equipment and Investment Property	(19.37)	(41.17)
Finance costs	457.78	517.87
Interest income	(78.14)	(81.88)
Trade Receivables / Advances written off	3.40
Provision for doubtful trade receivables / advances / others	19.30	21.29
Expected credit loss for Unbilled revenue	10.36	46.60
Exceptional items (net)	٠	32.67
Rental income from investment properties	(4.17)	(4.76)
Net foreign exchange (gain)		(1.37)
	563.25	666.77
Operating profit before working capital changes	901.46	1,120.13
Changes in working capital:
Adjustments for (Increase) / Decrease in operating assets:
(Increase) in Inventories
(Increase) / Decrease in Trade receivables	(11.97)	(1.88)
(Increase) / Decrease in Other financial assets	(86.34)	517.66
	(16.97)	61.80
Decrease / (Increase) in Other assets	78.07	(212.00)
Adjustments for Increase / (Decrease) in operating liabilities:
(Decrease) in Trade payables	(269.69)	(511.66)
Increase / (Decrease) in Other current liabilities	109.16	(213.15)
Increase in Provisions	4.39	12.16
	(193.35)	(347.07)
Cash generated from operations	708.11	773.06
Net income tax (paid)	(18.77)	(136.63)
Net cash flows from operating activities (A)	689.34	636.43
B. Cash flows from investing activities
Capital expenditure for property, plant and equipment, investment property,
Intangible Assets including Capital Work in Progress	(191.53)	(144.06)
Proceeds from disposal of Property, Plant and Equipment and Investment Property	39.92	56.21
Movement in Margin money deposits / other deposits	(78.63)	(99.11)
(Purchase) / sale of non current and current investments - Associates / Others	(15.03)	48.58
Loans given to subsidiaries, associates and others	(20.35)	(166.04)
Loans realised from subsidiaries, associates and others	281.87	57.62
Interest received	63.77	77.85
Rental income from investment properties	4.17	4.76
Net cash flows from / (used) in investing activities (B)	84.19	(164.19)
C.Cash flows from financing activities
Purchase of non current investments - Subsidiaries	(120.55)	(0.70)
Proceeds received against share warrants	26.55	82.36
Proceeds from long term borrowings	260.98	147.54
Repayment of long term borrowings	(332.21)	(292.27)
Short term borrowings borrowed / repaid (net)	(49.95)	61.55
Finance costs paid	(461.93)	(472.81)
Dividend and Dividend Tax paid	(12.20)	(108.62)
Net cash flows (used) in financing activities (C)
Net Increase / (Decrease) in Cash and cash equivalents (A+B+C)	(689.31)	(582.95)
	84.22	(110.71)
Cash and cash equivalents at the beginning of the year	85.34	196.05
Cash and cash equivalents at the end of the year	169.56	85.34
Reconciliation of Cash and cash equivalents with the Balance Sheet:
Cash and cash equivalents	169.56	85.34
Cash and cash equivalents at the end of the year	169.56	85.34
Note: Figures in brackets represents cash outflows.		By order of the Boardfor NCC Limited

S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants

THE SKYVIEW 10 18th Floor, "NORTH LOBBY" Survey No. 83/1, RaidurgamHyderabad - 500 032, India Tel: +91 40 6141 6000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of NCC Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of NCC Limited (the "Company") which includes 5 branches and 30 Joint Operations for the quarter and year ended March 31, 2021 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 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 the reports of the branch auditors and other auditors on the separate audited financial statements and other financial information of the branches and joint operations referred to in the Other Matter Paragraph below, the Statement:

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

Basis for Opinion

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 standalone 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.

Emphasis of Matter

We draw attention to note 3 of the standalone financial results, which describes the uncertainties and the possible effects of Covid-19 on the operations of the Company. Our opinion is not modified in respect of this matter.

S.R. Batilooi & Associates LLP, a Limited Liability Partnership with LLP (dentity No.Regd. Office : 22, Camas Street, Block 'B', 3rd Floor, Kolkata-700 016 No. 448-4295

Chartered Accountants

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive loss of the Company and other financial information 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 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement 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 are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of 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, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. 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 with reference to financial statements 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.

Chartered Accountants

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the 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 financial results 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.

Other Matter

The accompanying Statement of quarterly and year to date standalone financial results include the audited financial results in respect of:

4 branches and 9 joint operations whose annual financial statements and other financial information reflect total assets of Rs. 182.52 crore as at March 31, 2021 and total revenues of Rs. 85.52 crores and Rs. 370.49 crores, total net profit after tax of Rs. 2.30 crores and net loss after tax of Rs. 1.57 crores and total comprehensive income of Rs. 2.03 crores and total comprehensive loss of Rs. 2.01 crores for the quarter and year ended on that date respectively, and net cash inflows of Rs. 2.87 crores for the year ended March 31, 2021, as considered in the Statement which have been audited by their respective branch auditors and other auditors.

The reports of such branches and other auditors on annual financial statements and other financial information of these branches and joint operations have been furnished to us and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these branches and joint operations, is based solely on the report of such branch and other auditors.

Of these 1 branch is located outside India whose financial statements and other financial information have been prepared in accordance with accounting principles generally accepted in its respective country and which have been audited by branch auditor under generally accepted auditing standards applicable in their respective country. The Company's management has converted the financial statement of such branch 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 Company's management. Our opinion in so far as it relates to the balances and affairs of such branch located outside India is based on the report of branch auditors and the conversion adjustments prepared by the management of the Company and audited by us.

Our opinion on the Statement is not modified in respect of the above matters.

Chartered Accountants

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 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 S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004 & ASSO RTERED $\omega$ Kabra per Navneet COUNTANTS Partner

DERABI

Membership No.: 102328

UDIN: 21102328AAAADN5111

Place: Hyderabad Date: May 28, 2021

	NCCNCC LimitedCIN: L72200TG1990PLC011146Registered Office: NCC HOUSE, Madhapur, Hyderabad-500 081, Tel: 040-23268888, Fax: 040-23125555, email : ncc.ho@nccltd.in Website : www.ncclimited.com
	STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021					(₹ in Crores)
			Quarter ended		Year ended
S.No	Particulars	31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		Audited(Refer note 10)	Unaudited	Audited(Refer note 10)	Audited	Audited
$\mathbf{1}$	Income
	a) Revenue from Operations	2816.60	2126.90	2334.41	7949.42	8901.07
	b) Other Income	25.74	23.79	26.90	115.91	112.98
$\overline{2}$	Total IncomeExpenses	2842.34	2150.69	2361.31	8065.33	9014.05
	a) Cost of materials consumed	886.41	636.30	808.86	2426.56	3032.17
	b) Changes in inventories of work in progress	21.97	9.09	(9.26)	48.90	30.42
	c) Construction expenses	303.80	235.37	320.66	908.70	987.83
	d) Sub- Contractor work bills	1135.18	838.06	751.10	3059.81	2998.24
	e) Employee benefits expense	95.04	98.80	107.88	380.50	483.69
	f) Finance costs	122.84	112.18	126.37	479.91	553.85
	g) Depreciation and amortisation expenses	44.5368.51	45.4253.13	46.4668.17	181.25205.87	199.22281.47
	h) Other expensesTotal Expenses	2678.28	2028.35	2220.24	7691.50	8566.89
3	Profit from operations before exceptional items and tax (1-2)	164.06	122.34	141.07	373.83	447.16
$\overline{\mathbf{4}}$	Exceptional Items (net)	(12.60)		(36.32)	(12.60)	(49.63)
5	Share of (Loss) of Associates	0.03	1.37	(6.13)	1.29	(10.62)
6	Profit before tax (3+4+5)	151.49	123.71	98.62	362.52	386.91
$\overline{\phantom{a}}$	Tax expense
	a) Current tax	(11.71)	48.55	55.28	16.90	101.73
	b) Deferred tax	44.75	(2.72)	(17.22)38.06	62.5879.48	(28.93)
8	Total tax expenseNet Profit after tax (6-7)	33.04118.45	45.8377.88	60.56	283.04	72.80314.11
	Attributable to:
	Shareholders of the Company	116.83	71.20	75.82	268.31	336.53
	Non-Controlling interests	1.62	6.68	(15.26)	14.73	(22.42)
9	Other comprehensive income / (loss)
	Items that will not be reclassified to profit or loss
	a) Remeasurement of the defined benefit plans	(5.03)	(3.00)	(7.85)	(12.03)	(12.16)
	b) Income tax relating to items that will not be reclassified to profit or loss	(1.63)	1.05	2.72	0.82	4.23
	Items that may be reclassified to profit or lossa) Exchange differences on translation of foreign operations	(0.26)	(0.71)	4.22	(2.46)	6.67
	Total Other comprehensive income / (loss)	(6.92)	(2.66)	(0.91)	(13.67)	(1.26)
10	Total comprehensive income (8+9)	111.53	75.22	59.65	269.37	312.85
	Attributable to:
	Shareholders of the CompanyNon-Controlling interests	109.901.63	68.546.68	74.95(15.30)	254.6314.74	335.31(22.46)
11	Paid up Equity Share Capital (Face Value ₹ 2/- per Share)	121.97	121.97	121.97	121.97	121.97
12	Other Equity (excluding Revaluation Reserves)				5049.33	4784.48
13	Earnings Per Share (of ₹ 2/- each) for the period (not annualised)
	- Basic	1.92	1.16	1.25	4.40	5.59
	- Diluted	1.91	1.16	1.25	4.39	5.59
Notes:1	The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held on May
	28, 2021.
$\mathbf{z}$	The Board of Directors have recommended a dividend of ₹ 0.80 per equity share for the year 2020-2021, which is subject to approval of the share holders.
3	The Company, its Subsidiaries and Associates are primarily engaged in Construction / Project activities and there are no other reportable segments under Ind AS
4	108 "Operating Segments".Exceptional items in financial results pertain to provision made towards obligation on sale of investment, impairment of investments, loans and profit on sale of
	investments.
5	During the quarter, the Group's operations recovered further from the economic slowdown caused by the COVID-19 pandemic. The Group expects to recover the
	carrying value of the assets basing on the information available upto the date. The Group continues to monitor the economic effects of the uncertainty arisingfrom the second wave of the pandemic while taking steps to improve its scale of execution.
6	The Code on Social Security 2020 and The Code on Wages 2019 ("Code") received the Presidential Assent on September 28, 2020. The effective date and related
	rules of the Code have not been notified. The impact of the change, if any will be assessed and recognized post notification of the relevant provisions.
7	During the year, the Company has issued and allotted 18,000,000 Convertible Warrants on Preferential basis to the specified Promoters / Promoter Group at a
	price of ₹ 59/- per warrant convertible into one Equity Share of ₹ 2/- each at a premium of ₹ 57/- as per the provisions of Chapter VII of the SEBI ICDR
	Regulations. The Company received the part payment (25% of total consideration) of ₹ 26.55 crores on February 12, 2021.Tax expense for the year ended March 31, 2021 is after accounting of tax credit of ₹ 32.03 crores on receipt of intimation for assessment year 2018-19 from
	department (quarter ended and year ended March 31, 2020 is after accounting of net tax credit of ₹ 13.45 crores and ₹ 86.54 crores respectively on receipt of
8
	assessment orders of previous years).		During the current quarter, based on its assessment of the availability of tax benefits considering the current status of the underlying projects, the Company has
9				elected to follow the tax rates notified under section 1158AA of the Income tax act, 1961 and has filed the return of income accordingly for the previous year.Consequently, the Company has reversed current tax provision of ₹57.33 crores (including ₹ 12.98 crores recognised during the nine months ended December
	31, 2020); reversed MAT credit of ₹ 26.71 crores; and reversed deferred tax asset by ₹ 24.58 crores (including ₹ 1.33 crores recognised during the nine months
	ended December 31, 2020) during the current quarter. This matter has resulted in an increase of tax expense by ₹ 5.61 crores for the current year and adecrease in tax expense by ₹6.04 crores for the quarter ended March 31, 2021.
10	The figures for the quarter ended March 31, 2021 and March 31, 2020 are the balancing figures between the audited figures of the full financial years ended
	March 31, 2021 and March 31, 2020 respectively and the published year to date figures up to the nine months ended December 31, 2020 and December 31, 2019
	respectively.
	Place: HyderabadDate: 28.05.2021

	STATEMENT OF AUDITED CONSOLIDATED ASSETS AND LIABILITIES
		31.03.2021	(₹ in Crores)31.03.2020
	Particulars	Audited	Audited
A	ASSETS
	Non - current assets
	Property, plant and equipment	1124.08	1142.90
	Capital work in progress	21.86	15.16
	Investment property	223.47	200.86
	Investment property under construction	68.10	68.10
	Goodwill	0.63	0.63
	Other intangible assets	0.71	0.80
	Financial assets
	a) Investments in Associates	122.00	120.94
	b) Other Investments	213.43	213.43
	c) Loans		۷
	d) Trade Receivables	139.59	209.74
	e) Other financial assets	258.82	255.98
	Deferred tax assets (Net)	57.61	214.84
	Non Current tax assets (Net)	80.54	32.65
	Other non current assets	459.91	471.27
	Total non - current assets	2770.75	2947.30
	Current assets
	Inventories	1222.21	1391.29
	Financial assets
	a) Other Investments	104.20
			113.87
	b) Trade receivables	2739.62	2728.28
	c) Cash and cash equivalentsd) Bank balances other than above	191.64	114.44274.30
		312.94
	e) Loans	35.06	39.49
	f) Other financial assets	199.21	177.13
	Current tax assets (Net)	105.03	110.45
	Other current assets	5859.22	5915.34
	Total Current assets	10769.13	10864.59
	Total assets	13539.88	13811.89
B	EQUITY AND LIABILITIES
	Equity
	Equity share capital	121.97	121.97
	Other equity	5049.33	4784.48
		5171.30	4906.45
	Equity attributable to shareholders of the company
	Non- Controlling Interests	298.11	252.84
	Total Equity	5469.41	5159.29
	Liabilities
	Non-current liabilities
	Financial liabilities
	a) Borrowings	169.61	239.82
	b) Trade Payables	26.57	48.92
	ProvisionsOther non current liabilities	50.10	112.0890.90
	Total non-current liabilities	246.28	491.72
	Current liabilities
	Financial liabilities
	a) Borrowings
		1579.43	1632.80
	b) Trade payables:
	Dues to micro & small enterprises	51.99	31.10
	Dues other than micro & small enterprises	3776.53	4088.95
	c) Other financial liabilities	412.35	428.48
	Provisions	123.23	48.32
	Current tax liabilities (net)	2.35	62.23
	Other current liabilities	1878.31
	Total current liabilitiesTotal liabilities	7824.198070.47	1869.008160.888652.60

Place: Hyderabad Date: 28.05.2021

AUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2021
		(₹ in crores)
	Year ended	Year ended
Particulars	March 31, 2021	March 31, 2020
Cash flows from operating activities
Profit before tax	362.52	386.91
Adjustments for:
Depreciation and amortisation expenses	181.25	199.22
Share of loss from associate companies	(1.29)	10.62
Profit on sale of Property, Plant and Equipment and Investment Property	(24.26)	(11.07)
Finance costs	479.91	553.85
Interest income	(42.13)	(45.56)
Profit on sale of current & Non-Current investments (net)Gain on remeasuring investment at FVTPL (net)	(1.30)	(0.71)
Trade Receivables / Advances written off	(8.96)	(9.37)
Provision for doubtful trade receivables / advances / others	3.51
Expected credit loss for Unbilled revenue	19.3910.36	22.0446,60
Exceptional items (net)	12.60	49.63
Rental income from investment properties	(5.47)	(7.23)
	623.61	808.02
Operating profit before working capital changes	986.13	1,194.93
Changes in working capital:
Adjustments for (Increase) / Decrease in operating assets:
Decrease in Inventories	162.39	34.12
Decrease in Trade receivables	14.54	576.62
Decrease in Other financial assets	39.60	115.06
Decrease / (Increase) in Other assets	69.75	(153.03)
Adjustments for Increase / (Decrease) in operating liabilities:
(Decrease) in Trade payables	(313.92)	(456.88)
(Decrease) / Increase in Other financial liabilities	(15.56)	6.59
(Decrease) in Other current liabilities	(94.19)	(275.23)
(Decrease) / Increase in Provisions	(0.71)	30.25
	(138.10)	(122.50)
Cash generated from operations	848.03	1,072.43
Net income tax (paid)	(23.78)	(141.04)
Net cash flows from operating activities (A)	824.25	931.39
B. Cash flows from investing activities
Capital expenditure for property , plant and equipment, Investment property, intangible
Assets including Capital Work in Progress	(192.32)	(150.00)
Proceeds from disposal of Property, Plant and Equipment, Investment Property	52.62	97.64
Movement in Margin Money Deposits / Other Deposits	(79.85)	(102.50)
Sale of Non current / current investments	19.51	77.96
Loans (given) / realised from Associates and others	(13.74)	40.14
Proceeds from sale of a subsidiary	0.05
Interest received	22.31	32.28
Rental income from investment property	5.47	7.23
Foreign Exchange translation adjustment (arising on consolidation)	(3.02)	7.80
Net cash flows (used) / from investing activities (B)	(188.97)	10.55
c.Cash flow from financing activitiesProceeds from issue of Shares to Non-Controlling Interests
Proceeds received against share warrants	30.0026.55
		82.36
Redemption of debenturesProceeds from long term borrowings	(49.80)316.39	(46.00)147.54
Repayment of long term borrowings	(332.65)	(370.69)
Short term borrowings borrowed / repaid (net)	(53.37)	(240.78)
Finance costs paid	(483.00)	(510.74)
Dividend and Dividend Tax paid	(12.20)	(108.62)
Net cash flows (used) in financing activities (C)	(558.08)	(1,046.93)
Net Increase / (Decrease) in Cash and cash equivalents (A+B+C)	77.20	(104.99)
Cash and cash equivalents at the beginning of the year	114.44	219.43
Cash and cash equivalents at the end of the year	191.64	114.44
Reconciliation of Cash and cash equivalents with the Balance Sheet:
Cash and cash equivalents	191.64	114.44
Cash and cash equivalents at the end of the year	191.64	114.44
Note: Figures in brackets represents cash outflows.
		By order of the Board
	ര	for NCC Limited
		ロベム

Chartered Accountants

THE SKYVIEW 10 18th Floor, "NORTH LOBBY" Survey No. 83/1, Raidurgam Hyderabad - 500 032. India Tel: +91 40 6141 6000

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

T0 The Board of Directors of NCC Limited

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results of NCC Limited ("Holding Company"), which includes 5 branches and 30 joint operations and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and its associates for the quarter and year ended March 31, 2021 ("Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("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 the reports of the branch auditors and other auditors on separate audited financial statements and other financial information of the subsidiaries, associates, branches and joint operations referred to in the Other Matter Paragraph below, the Statement:

• i. includes the results of the entities as referred to in Annexure I;
• is presented in accordance with the requirements of the Listing Regulations in this regard; and ii.
• iii. 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 loss and other financial information of the Group for the quarter and year ended March 31, 2021.

Basis for Opinion

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 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 and its associates 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 consolidated 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.

Emphasis of Matter

We draw attention to note 5 of the consolidated financial results, which describes the uncertainties and the possible effects of Covid-19 on the operations of the Group. Our opinion is not modified in respect of this matter.

S.R. Batlibol & Associates LLP, a Limited Llability Partnership with LLP Identity No. AA8-4295Regd. Office : 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016

S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. 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 loss and other financial information of the Group including its associates 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 of the Listing Regulations. The respective Board of Directors of the companies included in the Group and of its associates 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 its associates 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 and of its associates are responsible for assessing the ability of the Group and of its associates 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 intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associates are also responsible for overseeing the financial reporting process of the Group and of its associates.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of 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, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. 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 with reference to financial statements 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.

Chartered Accountants

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its associates 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 and its associates 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 represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial statements and other financial information of the entities within the Group and its associates to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by 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 and such other entities included in the Statement of which we are the 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/CMD1/44/2019 dated March 29, 2019 issued by the Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

Other Matter

• 1. The accompanying Statement includes the audited financial statements and other financial information, in respect of:
  • 43 subsidiaries, 4 branches and 9 joint operations, whose financial statements reflect total assets of Rs 2,759.86 crores as at March 31, 2021, total revenues of Rs 287.93 crores and Rs 1,086.11 crores, total net profit after tax of Rs. 1.55 crores and Rs. 23.33 crores, total comprehensive income of Rs. 1.30 crores and Rs. 22.91 crores, for the quarter and the year ended on that date respectively, and net cash outflows of Rs. 4.15 crores for the year ended March 31, 2021, as considered in the Statement which have been audited by their respective independent auditors; and
  • 6 associates, whose financial statements reflect Group's share of net loss of Rs. 0.03 crores and net profit of Rs. 1.23 crores and Group's share of total comprehensive loss of Rs. 0.03 crores and total comprehensive income of Rs. 1.23 crores for the quarter and year ended March 31, 2021 respectively, as considered in the Statement whose financial statements, other financial information 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 the Management and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, branches, joint operations and associates is based solely on the reports of such auditors and the procedures performed by us as stated in paragraph above.

Chartered Accountants

Of the above, 2 subsidiaries and 1 branch are located outside India whose financial statements and other financial information have been prepared in accordance with 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 of such subsidiaries and branch 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, and branch located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and audited by us.

• The accompanying Statement includes unaudited financial statements and other unaudited financial $2.$ information in respect of:
  • 2 subsidiaries, whose financial statements and other financial information reflect total assets of Rs $\bullet$ Nil crores as at March 31, 2021, and total revenues of Rs Nil and Rs Nil, total net profit after tax of Rs. 1.05 crores and Rs. 1.05 crores, total comprehensive income of Rs. 1.05 crores and Rs. 1.05 crores, for the quarter and year ended on that date respectively and net cash outflows of Rs. Nil for the year ended March 31, 2021; and
  • 2 associates, whose financial statements reflect the Group's share of net profit of Rs. 0.06 crores and Rs 0.06 crores and Group's share of total comprehensive income of Rs. 0.06 crores and Rs. 0.06 crores for the quarter and year ended March 31, 2021 respectively, as considered in the Statement whose financial statements and other financial information have not been audited by their auditors.

These unaudited financial statements and other financial information have been approved and furnished to us by the Management and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associates, is based solely on such unaudited financial statements and other financial information. In our opinion and according to the information and explanations given to us by the Management, these financial statements and other financial information are not material to the Group.

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 statements and other financial information certified by the Management.

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 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 S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm Registration Number: 101049W/E300004

CHARTERID t Rai Kahra ACCOUNTANT Partner Membership No.: 102328 DERABI

UDIN: 21102328AAAADP3610

Place: Hyderabad Date: May 28, 2021

S.R. BATLIBOI & ASSOCIATES LLPChartered Accountants

Annexure 1

SI No.	Name of the Entity
Subsidiaries
1	AKHS Homes LLP
$\overline{2}$	Al Mubarakia Contracting Co. L.L.C.
3	Aster Rail Private Limited
$\overline{4}$	CSVS Property Developers Private Limited
5	Dhatri Developers & Projects Private Limited
6	JIC Homes Private Limited
$\overline{\mathcal{U}}$	Kedarnath Real Estates LLP
8	M A Property Developers Private Limited
9	Mallelavanam Property Developers Private Limited
10	Nagarjuna Construction Company International L.L.C.
11	Nagarjuna Contracting Co. L.L.C.
12	Nagarjuna Suites Private Limited
13	Nandyala Real Estates LLP
14	NCC Infra Limited
15	NCC Infrastructure Holdings Limited
16	NCC Infrastructure Holdings Mauritius Pte. Limited
17	NCC International Convention Centre Limited
18	NCC Urban Homes Private Limited
19	NCC Urban Infrastructure Limited
20	NCC Urban Meadows Private Limited
21	NCC Urban Ventures Private Limited
22	NCC Urban Villas Private Limited
23	NCC Vizag Urban Infrastructure Limited
24	NCCA International Kuwait General Contracts Company LLC
25	NJC Avenues Private Limited*
26	OB Infrastructure Limited
27	Pachhwara Coal Mining Private Limited
28	Patnitop Ropeway & Resorts Limited**
29	PRG Estates LLP
30	Samashti Gas Energy Limited
31	Savitra Agri Industrial Park Private Limited
32	Siripada Homes Private Limited
33	Sradha Real Estates Private Limited
34	Sri Raga Nivas Property Developers LLP
35	Sri Raga Nivas Ventures Private Limited
36	Sushanthi Housing Private Limited
37	Sushanti Avenues Private Limited
38	Sushruta Real Estates Private Limited
39	Talaipalli Coal Mining Private Limited
40	Thrilekya Real Estates LLP

S.R. BATLIBOI & ASSOCIATES LLPChartered Accountants

41	Vaidehi Avenues Limited
42	Vara Infrastructure Private Limited
43	Varma Infrastructure LLP
44	Vera Avenues Private Limited
45	VSN Property Developers LLP
Associates
	Apollonius Coal and Energy Pte. Limited
$\overline{2}$	Brindavan Infrastructure Company Limited
3	Ekana Sportz City Private Limited
$\overline{4}$	Himalayan Green Energy Private Limited
5	Nagarjuna Facilities Management Services L.L.C.
6	Paschal Form Work (India) Private Limited
	Pondicherry Tindivanam Tollway Limited
8	Varaprada Real Estates Private Limited

* Ceases to be subsidiary with effect from July 27, 2020 ** Liquidated with effect from February 12, 2021

Declaration

Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/56/2016 dated 27th May 2016, we, NCC Limited, do hereby state and declare that the Statutory Auditors' Reports on the Financial Statements (Standalone and Consolidated) for the Financial Year ended 31st March 2021 are with unmodified opinion.

For NCC Limited

$\begin{array}{ll} \text{MI} \text{V} & \overset{\text{Digitally signed by}}{\text{MV SRINIVASS}} \ \text{SRINIVASSA} & \overset{\text{MUFIRIV}}{\text{DARE 2021,05.28}} \ \text{MURTHY} & \overset{\text{DARE 2021,05.28}}{\text{15:14:52} + \text{05'30'}} \end{array}$

M V Srinivasa Murthy Company Secretary & EVP (Legal)

Date: 28th May 2021 Place: Hyderabad

PRESS RELEASE

NCCL STANDALONE:

NCC Limited has achieved a Turnover of ₹ 2618 Crore for the auarter ended 31.03.2021 as against ₹2182 Crore in the corresponding quarter of the previous year. The operations of the Company have resulted in an EBIDTA of ₹ 289.74 Crore and a net profit of ₹ 115.49 Crore as against ₹280.53 Crore and ₹110.37 Crore respectively in the corresponding quarter of the previous year. The company has reported an EPS of $\overline{z}$ 1.89 as against $\overline{z}$ 1.82 in the corresponding quarter of the previous year.

The Company has reported a turnover of ₹ 7256 Crore for the financial year 2020-21 as against ₹8219 Crore in the previous year. The Company has posted an EBIDTA of ₹854.48 Crore and a Net Profit of ₹ 261.13 Crore as against ₹ 1030.15 Crore and ₹ 382.04 Crore respectively in the previous year. The company has reported an EPS of ₹4.28 for FY 2021 as against $\bar{\tau}$ 6.34 in the previous year.

CONSOLIDATED RESULTS:

NCC Limited has achieved a Turnover of ₹ 2817 Crore for the quarter ended 31.03.2021 as against $\overline{\tau}$ 2334 Crore in the corresponding quarter of the previous year. The operations of the Company have resulted in an EBIDTA of ₹ 305.69 Crore and PAT attributable to the shareholders of the company amounted to $\bar{\tau}$ 116.83 Crore as against $\bar{\tau}$ 287 Crore and $\bar{\tau}$ 75.82 Crore respectively in the corresponding guarter of the previous year. The company has reported an basic EPS of $\overline{x}$ 1.92 as against $\overline{x}$ 1.25 in the corresponding quarter of the previous year.

The Company has achieved a Turnover of ₹7949 Crore for the year ended 31st March 2021 as against turnover of ₹8901 Crore in the Previous Year. The Company posted an EBIDTA of ₹ 919.08 Crore and PAT attributable to the shareholders of the company amounted to ₹ 268.31 Crore for the year as against ₹ 1087.25 Crore and ₹ 336.53 Crore respectively in the Previous Year. The company has reported an basic EPS of ₹ 4.40 for FY 2021 as against ₹ 5.59 in the previous year.

The Board of Directors at their meeting held on 28.05.2021 have recommended Equity Dividend of 40% (₹ 0.80 per share of ₹ 2/- each) on the Paid up Capital of ₹ 121.97 Crore subject to the approval of the Shareholders at the Annual General Meeting.

During the year the Company has secured orders aggregating to ₹ 18943 crore (including change in scope) and the order book stood at $\overline{\mathfrak{r}}$ 37911 Crore as on 31.03.2021.

Place: Hyderabad Date: 28.05.2021

For NCC Limited

A V RANGA Digitally signed by AV RAJU ALLURI Date: 2021.05.26

A.A.V.Ranga Raju Managing Director