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Poly Medicure Ltd Annual Report 2022
60661_rns_2022-05-24_0c377390-75fb-4e5a-95ab-fd6191dedbc4.pdf
Annual Report
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Poly Medicure Limited
Regd. Office: 232-B, 3d Floor, Okhla Industrial Estate, Phase-III, New Delhi - 110020 (INDIA) T: +91-11-33550700, 47317000, F: +91-11-26321894, 26321839 E: [email protected] W: polymedicure.com CIN: L 40300DL1995PLC066923
Date: 24th May, 2022
Scrip Code: - 531768
The Manager, BSE Limited, Department of Corporate Services, Phirozee Jeejeebhoy Towers, Dalal Street, Mumbai- 400001.
Scrip Code:- POLYMED
The Manager National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1-Block-G Bandra Kurla Complex, Bandra(E), Mumbai-400051.
Subject: Outcome of the Board Meeting of the Company
Ref: Compliance of Regulation 30 and 33 of SEBI (LODR) Regulations, 2015
Dear Sir/Madam,
Pursuant to Regulation 30 and 33 of SEBI (LODR) Regulations, 2015, We are pleased to inform the Stock Exchange that the Board of Directors at their meeting held today i.e. 24th May, 2022, at 232-B, 3RD Floor, Okhla Industrial Estate, Phase-III, New Delhi - 110020, approved the following businesses:
- a) Audited Financial Results (Consolidate & Standalone) for the year ended on 31st March 2022.
- b) Recommendation of Dividend of Rs. 2.5 (Two and half Rupees) per Equity Shares (50%) of Rs. 5 each for the Financial Year 2021-22, subject to the approval of shareholders.
- c) Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; we wish to inform that, Mr. Ravi Prakash has been appointed as Deputy Company Secretary and Compliance Officer of the Company w.e.f. 24th May, 2022. Consequent to his appointment he will also assume the office of Deputy Company Secretary and Compliance Officer along with Mr. Avinash Chandra, Company Secretary and Compliance Officer of the Company. Brief profile of Mr. Ravi Prakash is attached.
Kindly take a note of the same for your further needful and oblige us.
Thanking You,
Yours Sincerely
For Poly Medicure Limited
vińash Chandra Company Secretary
Works: Plot No.104-105 & 115-116, Sector-59, HSIIDC Industrial Area, Ballabgarh, Faridabad - 121004, Haryana (INDIA) T: +91-129-3355070, 4287000, F: +91-129-2307007, 2309102
Disclosure required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015
| Name | Mr. Ravi Prakash | ||||
|---|---|---|---|---|---|
| Designation | Deputy Company Secretary and Compliance Officer | ||||
| Date of Appointment | May 24, 2022 | ||||
| Brief Profile | Mr. Ravi Prakash is an Associate member of the Institute ofCompany Secretaries of India, having Membership no. 65254 and aCommerce graduate, with more than 8 years of experience insecretarial matters, corporate laws & compliances management. | ||||
| Disclosure ofrelationships betweenDirectors (in case ofappointment as aDirector) | N.A. |
POLY MEDICURE LIMITED
Regd. Office: 232B, 3rd Floor, Okhla Industrial Estate Phase III, New Delhi - 110 020
Website: www.polymedicure.com, E-mail: [email protected], CIN: L40300DL1995PLC066923 STATEMENT OF AUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR AND QUARTER ENDED MARCH 31, 2022
(₹ in lacs except per share data) Consolidated Standalone Year Ended Quarter Ended Year Ended Ouarter Ended Particulars 31.03.2021 31.03.2022 31.03.2022 31.12.2021 31.03.2021 31.03.2021 31.03.2022 31.03.2021 31.03.2022 31.12.2021 (Audited) (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) (Audited) (Unaudited) (Audited) 1 Income 78.646.96 a Revenue from operations 20,250.86 87.935.76 74.738.24 25,751.62 23.023.86 21.295.81 92,306.26 24.444.11 22,001.19 1,841.50 3,790.25 1,928.82 819.65 $717.21$ 666.96 b Other income 900.09 720.40 743.11 3,872.87 80,488.46 96,096.51 Total income(A) 25,344.20 22,721.59 20,993.97 91,808.63 76,667.06 26,571.27 23,741.07 21,962.77 2 Expenses 26,674.57 35.237.25 24,607.67 7,478.61 a Cost of materials consumed 7,232.73 33,128.06 9,221.67 9.376.16 8,731.67 8,836.34 308.32 1,065.61 $90.18$ b Purchases of stock-in-trade 530.45 48.71 $90.18$ 1,065.61 308.32 530.45 48.71 Changes in inventories of finished goods, work-in-progress and stock-in- $(759.95)$ $(1.495.41)$ 429.37 $(340.33)$ $(25.91)$ $c$ trade 304.36 $(341.23)$ $(197.30)$ $(1, 410.02)$ $(202.92)$ 14,175.70 13.074.22 4.519.16 4,196.40 $3.753.17$ 16,361.99 d Employee benefits expense 14 989 39 4,029.69 3.946.45 3,486.50 1,314.45 e Research and development expenses 1.874.66 1.314.18 511.18 479.48 377.42 1,877.11 509.83 478.50 377.38 851.18 $(182.84)$ 425.48 144.65 $(58.12)$ f Finance cost 130.34 $(74.96)$ $(197.37)$ 360.70 791.17 4,752.20 5,254.01 1,399.05 5.395.22 g Depreciation and amortisation expense 1,352.76 1,327.22 1,221.29 4,631.42 1.359.48 1,254.29 17,949.50 15,497.66 h Other expenses 17,074.71 14,804.68 4,964.97 4,148.18 4,203.41 4,653.00 3.947.14 3.970.33 Total expenses(B) 20,242.10 59,328.74 21,720.50 19,209.96 16.948.33 76,816.75 62,814.13 18,168.17 15,983.74 72,337.12 17,674.33 3 Profit from operations before exceptional items (A-B) 19,471.51 17,338.32 4,850.77 4,531.11 5,014.44 19,279.76 5,102.10 4,553.42 5,010.23 4 Exceptional Items T. $\overline{a}$ ÷. $244.73$ 331.07 5 Share of Profit of an associate 28.38 52.82 167.26 4.583.93 19,524.49 18,005.40 6 Profit before tax 19,471.51 17,338.32 4,879.15 5.181.70 $5,102.10$ 4,553.42 $5,010.23$ 7 Tax expense a Current tax 1,248.40 4,632.27 4.441.52 $1.244.31$ 4,628.18 1,096.52 1,107.36 1,096.52 1,106.10 4.410.71 b Deferred tax 38.49 36.28 191.62 265.99 $(8.34)$ 38.49 $36.28$ 191.62 265.99 $(8.34)$ $(24.37)$ $(24.37)$ $(15.22)$ c Earlier Year Taxes $(1.92)$ $(24.37)$ $(15.22)$ $(1.92)$ $(24.37)$ Total Tax Expense 1,258.43 1,132.80 1,295.80 4,869.80 4,387.15 1,262.52 1,132.80 1,297.06 4,873.89 4,417.96 8 Profit after tax 3,843.67 3,420.62 3,714.43 14,601.71 12,951.17 3,616.63 3,451.13 3,884.64 14,650.60 13,587.44 9 Other Comprehensive Income Items that will not be reclassified to profit or loss : 13.98 Remeasurements of defined benefit obligations 35.32 $(19.07)$ $20.23$ 31.69 13.98 $35.32$ $(19.07)$ $20.23$ 31.69 Tax impacts on above $(8.89)$ 4.80 $(5.09)$ $(7.98)$ $(3.52)$ $(8.89)$ 4.80 $(5.09)$ $(7.98)$ $(3.52)$ Total Other Comprehensive Income $26.43$ $(14.27)$ 15.14 23.71 10.46 $26.43$ $(14.27)$ 15.14 $23.71$ 10.46 10 Total comprehensive income (comprising profit after tax and 3,729.57 3,870.10 3,406.35 14,625.42 12.961.63 3,643.06 3,436.86 3,899.78 14,674.31 13,597.90 other comprehensive income after tax) 11 Net Profit attributable to: $\overline{\phantom{a}}$ $\overline{a}$ $\overline{a}$ $\sim$ 3,616.63 3,451.13 3,884.64 14,650.60 13,587.44 Equity holders of the parent $\overline{\phantom{a}}$ $\overline{\phantom{a}}$ ÷ $\overline{\phantom{a}}$ Non-controlling interests ٠. $\overline{a}$ 12 Other Comprehensive income attributable to: Equity holders of the parent $\overline{\phantom{a}}$ TE $\sim$ т τ $26.43$ $(14.27)$ 15.14 $23.71$ 10.46 . $\overline{\phantom{a}}$ Non-controlling interests ÷ $\overline{a}$ 13 Total comprehensive income attributable to: Equity holders of the parent 3,643.06 3,436.86 $\overline{\phantom{a}}$ т. $\overline{\phantom{a}}$ 3,899.78 14,674.31 13,597.90 τ $\ddot{\phantom{1}}$ Non-controlling interests A $\overline{\phantom{a}}$ $\overline{a}$ 14 Paid-up equity share capital (Face Value of ₹ 5 each) 4,795.02 4,795.02 4,794.03 4,795.02 4,794.03 4,795.02 4,795.02 4,794.03 4,795.02 4,794.03 Reserve excluding Revaluation Reserves as per balance sheet of $15$ ÷. $\sim$ $\mathbf{r}$ 1,02,902.42 90,606.91 $\sim$ $\sim$ 1,03,953.12 91,763.02 previous accounting year Earnings per share 16 (Quarterly not annualised): $4.01$ $3.57$ $4.07$ $15.23$ 14.54 $3.77$ 3.60 $4.26$ Basic (₹) $15.28$ 15.25 $401$ $3.57$ $4.07$ $15.22$ 14.53 $3.77$ $3.60$ $4.25$ Diluted $(3)$ $15.27$ $15.24$
Munachil ASSIGURA NEW DELHI
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| StandaloneAs at31.03.2022(Audited)43,163.343,710.94115.20386.881,466.99586.224,693.91$\overline{\phantom{a}}$2,347.402,825.9959,296.8715,023.8133,659.7219,146.0063 33767.8534.16341.415,063.0874,099.36133,396.234,795.02 | As at31.03.2021(Audited)36,723.761,474.29216.58452.821,556.17643.343,979.85$\sim$5,515.20810.9451,372.9510,938.2734,501.2514,892.06279.472,460.8733.30226.424,036.6067,368.24118,741.19 | As at31.03.2022(Audited)43,868.213,713.56115.20386.882,858.111,581.42626.00976.88$\sim$$\bullet$2.347.402,866.1559,339.8116,836.4333,659.7220,662.89775.74767.8534.16377.505,229.3778,343.66137,683.47 | ConsolidatedAs at31.03.2021(Audited)37,410.711,474.46216.58452.822,858.111,636.24646.51940.34$\cdot$٠5,515.51810.9451,962.2212,648.2034,501.2515,586.31495.462,460.8733.30312.614,372.8370,410.83122,373.05 |
|---|---|---|---|
| 4,794.03 | 4,795.02 | 4,794.03 | |
| 102,902.42 | 90,606.91 | 103,953.12 | 91,763.02 |
| 95,400.94 | 108,748.14 | 96,557.05 | |
| 107,697.44 | |||
| 6,327.71 | |||
| 196.63 | |||
| 87.56 | |||
| 326.73 | |||
| 433.26 | |||
| 1,304.45 | |||
| 5,371.61 | 8,676.34 | ||
| 7,877.20 | 6,295 80 | 8,714.73 | 7,085.82 |
| 105.43 | 132.35 | 105.43 | 132.35 |
| 1.04772 | 1,568.68 | 1.047.72 | |
| 5.404.29 | |||
| 2,121.47 | |||
| 1,232.52 | |||
| 44.27 | |||
| 71.22 | |||
| 17,139.66 | |||
| 122,373.05 | |||
| Quincanbel | |||
| 3,056.3437.9652.35286.05325.571,613.341,568.686,218.882,492.522,029.6834.7920,327.18133,396.23 | 5,973.95196.6387.56230.98347 291,304.458,140.864,562.542,007 571,052.9144 2756 2315,199.39118,741.19 | 3,812.7237.9652.35398.22352.921,613.346,267.517,335.212,601.872,307.1234.7922,667.82137,683.47 |
NEW DELHI AND
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| Cash Flow Statement for the year ended 31 March 2022 | Standalone | Consolidated | |||
|---|---|---|---|---|---|
| Particulars | Year ended | Year ended | |||
| 31 March 2022 | 31 March 2021 31 March 2022 31 March 2021 | ||||
| Audited | Audited | Audited | Audited | ||
| A CASH FLOWS FROM OPERATING ACTIVITIESProfit before tax and exceptional items | |||||
| Adjusted for: | 19,471.51 | 17,338.32 | 19,524.49 | 18,005.40 | |
| Depreciation and amortisation | 4,752.20 | ||||
| Share in Income from Associate | 5,254.01 | 4,631.42 | 5,395.22(244.73) | (331.07) | |
| Interest expense | 360.70 | 791.17 | 425.48 | 851.18 | |
| Dividend Income/governing council share | (85.17) | (79.40) | |||
| Interest income | (196.81) | (308.33) | (198.60) | (309.10) | |
| Loss/(profit) on sale of fixed assets, net | (53.05) | (0.72) | (53.05) | (0.72) | |
| Debts/advances written off | 66.06 | 17.99 | 66.06 | 17.99 | |
| Provision for doubtful debts and advances | 24.46 | 3.08 | 29.96 | ||
| Credit balances no longer required, written back | (36.89) | (1.67) | (36.89) | (1.67) | |
| Deferred employee compensation expenses (net) | 93.10 | 64.73 | 93.10 | 64.73 | |
| Unrealised foreign exchange (gain) /loss | (287.94) | 10.29 | (287.94) | 10.29 | |
| Other Comprehensive Income | 31.69 | 13.98 | 31.69 | 13.98 | |
| Ind AS & Other adjustments | (1,285.54) | (669.64) | (1,285.65) | (649.33) | |
| Operating profit before working capital changes | 23,331.68 | 21,832.60 | 23,432.26 | 22,453.84 | |
| Movement in working capital | |||||
| Decrease/(increase) in inventories | (4,085.54) | (841.85) | (4, 188.23) | (1, 438.71) | |
| Decrease/ (increase) in sundry debtors | (4,247.84) | (3,290.36) | (5,073.56) | (3,322.93) | |
| Decrease/(Increase) in financial assets | 6.14 | 89.72 | 64.31 | 14.61 | |
| Decrease/(Increase) in other assets | (1,036.75) | (1,046.23) | (866.81) | (1,041.62) | |
| Increase/ (decrease) in trade payables | 2,195.58 | (250.74) | 2,470.15 | 5.95 | |
| Increase/ (decrease) in other financial liabilities | 127.60 | 54.98 | 118.09 | 105.68(390.07) | |
| Increase/ (decrease) in other liabilities | 976.3645.59 | (436.52)(57.79) | 1,074.6062.01 | (51.45) | |
| Increase/ (decrease) in provisions | 17,312.82 | 16,053.81 | 17,092.83 | 16,335.30 | |
| Cash generated from operationsDirect taxes paid (net of refunds) | (4,686.36) | (4, 414.16) | (4,745.60) | (4,462.12) | |
| Net cash from operating activities (A) | 12,626.46 | 11,639.65 | 12,347.23 | 11,873.18 | |
| B CASH FLOWS FROM INVESTING ACTIVITIES | |||||
| Purchase of fixed assets (including capital advances) | (15, 180.20) | (9,395.22) | (15,557.77) | (9,513.12) | |
| (Purchase)/Sale of Investments (net) | 1,087.50 | (32, 334.69) | 1,801.56 | (32, 334.69) | |
| Proceeds from / (Investment in) Fixed Deposits (net) | 4,652.76 | (2,108.16) | 4,652.76 | (2,108.16) | |
| Proceeds from sale of fixed assets | 151.40 | 61.44 | 151.40 | 61.44 | |
| Dividend Income/governing council share | 31.89 | 59.79 | 31.89 | 59.79276.44 | |
| Interest income | 385.21 | 275.67 | 387.00 | (43, 558.30) | |
| Net cash used for investing activities (B) | (8,871.43) | (43, 441.17) | (8, 533.16) | ||
| C CASH FLOWS FROM FINANCING ACTIVITIES | |||||
| Proceeds from (Repayment) of borrowings / deferred payment liabilities | (1, 125.36) | (6,520.48) | (628.16) | (6,645.18) | |
| (net) | 9.89 | 40,000.00 | 9.89 | 40,000.00 | |
| Proceeds from Share Allotments | (693.50) | (693.50) | |||
| Share issue expenses adjusted against securities premium (net off GST) | (114.00) | (114.00) | |||
| Repayment of Lease Liabilities including interest | (114.00) | (114.00) | (2,391.56) | ||
| Dividend Paid | (2,391.56)(350.14) | (780.48) | (409.96) | (852.47) | |
| Interest / Finance charges paid | (3,971.17) | 31,891.54 | (3,533.79) | 31,694.85 | |
| Net cash from/(used for) financing activities (C) | |||||
| Net increase/(decrease) in cash and cash equivalents (A+B+C) | (216.14) | 90.01 | 280.28495.46 | 9.72485.74 | |
| Cash and cash equivalents at the beginning of the year | 279.47 | 189.46279.47 | 775.74 | 495.46 | |
| Cash and cash equivalents at the end of the period | 63.33 | ||||
| COMPONENTS OF CASH AND CASH EQUIVALENTS | 266.66 | 741.88 | 481.60 | ||
| Balances with Banks in current account | 37.73 | OICUR | |||
| Cheques, drafts on hand | 25.60 | 12.81 | 33.86 | 13.86 | |
| Cash on hand (including foreign currency notes) | |||||
| Fixed deposits with banks, having original maturity of three months or | |||||
| less | 63.33 | 279.47 | 775.74 | 495.46 | |
| Cash and cash equivalents at the end of the periodNote: The above statement of cash flow has been prepared under indirect method as set out in IND AS-7 "Statement of Cash Flow" | NEW DELH | ||||
| mondal | |||||
Notes:
- 1 The above audited standalone and consohdated results were reviewed and recommended by the Audit Committee & approved by the Board of Directors at theu respective meetings held on 24th May, 2022. The statutory auditors have expressed an unmodified audit opinion on these standalone and consolidated financial results.
- 2 The standalone and consolidated financial results have been prepared in accordance with the principles and procedures of Indian Accounting Standards ("Ind AS") as notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified In Section 133 or the Companies Act, 2013.
- 3 The Consolidated audited Financial Results or the Company and its Foreign Subsidiaries/Indian subsidiary ("Group") and associate have been prepared as per IND AS 110 "Consolidated Financial statements" and IND AS 28 on "Investment In Associates·. The following entities have been considered in Consolidated quarterly financial results.
- I. Poly Med,cure (Laiyang) Co. Ltd Wholly owned Subsidiary (Audited)
-
- Poly Med,cure B V Netherlands(Consolidated) Wholly owned Subsidiary (Management certified)
-
- Plan 1 hea lth India Pvt Ltd.· Wholly owned Subsidiary (Audited)
- 4 . Ultra ror Medical Products Co.(UMIC) Egypt Associate (Audited)
- 4 The financial results lndude the results ror the quarter ended March 31,2022 being the balancing figures between the audited figures in respect or run financial year ended 31st March 2022 and the published unaudited year to date figures upto the third quarter or the previous financial year.
- 5 In line with the provisions or Ind AS 108· Operating Segments and on the basis or review or operations being done by the management or the Company, the operations of the group falls under medical devices, which Is considered to be the only reportable segment by the management
- 6 The Board of directors of the Company has recommended a dM dend of Rs.2.50 per share subject to the approval of shareholders or the Company In Annual general meeting.
7 The Company continues to monitor the Impact or COVID 19 on its busslness lnduding its Impact on customers, supply chain etc. Due care has been exercised In condudlng on slgnif1Cant accounting judgement and estimates
in duding In relation to recoverability or receivables, inventory and other financial assets based on information available to date while preparing the Company's financial results as of and for the quarter and year ended 31 March 2022. 8 During the Year ended 31st March 2022, I 9775 Equity shares at a face value or Rs 5 each have been allotted In pursuance or Employees Stock option scheme 2016 at an exercise price of Rs SO per share.
9 During the quarter ended 31st March, 2021, the company had issued 76,33,587 equity shares or Rs 5/· each at premium or Rs. 519/· each (Issue Price per share Rs. 524/· each) amounting to Rs.40,000 lacs to Qualified Institutional Investors on QIP basis. The proceeds of QIP have been utilized as per details given below as on 31 March 2022 :
| S.No | Particulars | Amount(Rs. In lacs\ | ||
|---|---|---|---|---|
| 1 | IOIP share Issue excenses(includinci GST of Rs.105.59 lacsl | 799.09 | ||
| 2 | Ren>=ent/Prenavment or debts and worlcina canital lom1ts | 6 182.80 | ||
| 3 | Investment in subsidiary | 714.06 | ||
| 4 | capital expenditure | 15,180.20 | ||
| 5 | Amount temporarily Invested in fixed deposits and loqu1d mutual funds pending utilization | 17,123.85 | ||
| Total | 40 000.00 | |||
| 11 Previous period figures have been regrouped wherever necessary to conrorm to the ament year dassificatJon.·12 The Audited results of Poly Med1cure m1or | Li ·ted r the Year and Quarter ended 31st March 2022 are available on our website, www.polymed1cure.com and on the Stock Exchange webslte_nnseindia.com and www.:r?Jnd~m | ( | ~, |
Place: New Delhi Date : 24th Ma 2022
Hlmansllu !laid MalY I DlrectDr
POLY MEDICURE LIMITED
Regd. Office: 232B, 3rd Floor, Okhla Industrial Estate Phase III, New Delhi - 110 020, Website: www.polymedicure.com, E-mail: [email protected], CIN: L40300DL1995PLC066923STATEMENT OF AUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2022
| (T in lacs except per share data) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Standalone | Consolidated | ||||||||
| Particulars | Year Ended | Year Ended | Quarter Ended | Quarter Ended | Year Ended | Year Ended | Quarter Ended | Quarter Ended | |
| 31.03.2022 | 31.03.2021 | 31.03.2022 | 31.03.2021 | 31.03.2022 | 31.03.2021 | 31.03.2022 | 31.03.2021 | ||
| (Audited) | (Audited) | (Audited) | (Audited) | (Audited) | (Audited) | (Audited) | (Audited) | ||
| Total Income from operations | 91,808.63 | 76,667.06 | 25,344.20 | 20,993.97 | 96,096.51 | 80,488.46 | 26,571.27 | 21,962.77 | |
| Net Profit/(Loss) for the period (before Tax, Exceptional and/orExtraordinary items) | 19,471.51 | 17,338.32 | 5,102.10 | 5,010.23 | 19,524.49 | 18,005.40 | 4,879.15 | 5,181.70 | |
| Net Profit/(Loss) for the period before Tax(after Exceptional and/or Extraordinary items) | 19,471.51 | 17,338.32 | 5,102.10 | 5,010.23 | 19,524.49 | 18,005.40 | 4,879.15 | 5,181.70 | |
| Net Profit/(Loss) for the period after Tax(after Exceptional and/or Extraordinary items) | 14,601.71 | 12,951.17 | 3,843.67 | 3,714.43 | 14,650.60 | 13,587.44 | 3,616.63 | 3,884.64 | |
| Total Comprehensive Income for the period [Comprising Profit/(Loss) forthe period (after tax) and Other Comprehensive Income (after tax)] | 14,625.42 | 12,961.63 | 3,870.10 | 3,729.57 | 14,674.31 | 13,597.90 | 3,643.06 | 3,899.78 | |
| Equity paid up share capital | 4,795.02 | 4,794.03 | 4,795.02 | 4,794.03 | 4,795.02 | 4,794.03 | 4,795.02 | 4,794.03 | |
| Reserves (excluding Revaluation Reserve) as shown in the AuditedBalance Sheet of the previous year | 1,02,902.42 | 90,606.91 | 1,03,953.12 | 91,763.02 | |||||
| Earnings per share (Face Value of ₹ 5 each)(Quarterly not annualised): | |||||||||
| Basic $(7)$ | 15.23 | 14.54 | 4.01 | 4.07 | 15.28 | 15.25 | 3.77 | 4.26 | |
| Diluted $(3)$ | 15.22 | 14.53 | 4.01 | 4.07 | 15.27 | 15.24 | 3.77 | 4.25 |
1 The above audited standalone and consolidated results were reviewed and recommended by the Audit Committee & approved by the Board of Directors at their respective meetings held on 24th May, 2022. The statutory auditors unmodified audit opinion on these standalone and consolidated financial results.
2 The above is an extract of the detailed format of audited Standalone and Consolidated Financial Results for the Quarter and Year ended March 31,2022 filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Requirements) Requlations, 2015. The full format of the audited Financial Results are available on the Stock Exchange websites, www.bseindia.com, www.nseindia.com and on the company website www.polymedicure.com.
Place: New Delhi
Date: 24th May 2022
Immane
Himanshu Baid Managing Director
:Jvf_ C <Blian£ari ~ Co. Chartered }lccountants 401-)1, (]Jak}fii Jfouse, 40-41, ;J{efiru Pface, New <Ddfii - J 10019 ?rto6i(e: 9810236616, 'E-mai(: mc6coae(fii@gmai[com
Independent Auditors' Report on the quarterly and year to date Audited Standalone Financial Results of the Company pursuant to Regulation 33 of SEBI (Listing obligations and disclosure Requirements) Regulations 2015, as amended
To The Board of Directors Poly Medicure Limited
Report on the Audit of Standalone Financial Results
Opinion:
We have audited the accompanying Statement of Standalone Financial Results of POLY MEDICURE LIMITED ("the Company") for the quarter and year ended 31st March 2022 ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by circular no. CIR/CFD/FAC/62/2016 dated 5th July 2016
In our opinion and to the best of our information and according to the explanations given to us, the statement:
- i. is presented In accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by circular no. CIR/CFD/FAC/62/2016 dated 5th July 2016; and
- ii. gives a true and fair view in conformity with the Indian Accounting Standards (Ind AS) and other accounting principles generally accepted In India of the net profit (Including other comprehensive income) and other financial information of the Company for the quarter and year ended 3pt March 2022.
Basis for Opinion:
We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing specified under secton 143(10) of the Act (SAs). Our responsibitities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Statements secton of our report. We are ndependent of the Company n accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the standalone fnancial statements under the provisons of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsbifities in accordance with these requrements and the ICAl's Code of Ethics. We beieve that the audit evoence we have obtained is sufficient and appropriate to provoe a basis for our audit opnon on the standa ne~ financial statements. ~r,
u. f"'\ Management's Responsibllity for the Standalone Financial Results ,. N w Dclh, · )
11'..:...!...' ;'\ CJ <oQ:' ~ ' .., •-' q. ;::-., v , 7. _,..
These Standalone annual financial results have been prepared on the basis of the Standalone ·nual:.,~ financial statements.
The Company's Management and Board of Directors are responsble for the matters stated ii secton
134(5) of the Act with respect to the preparaton of these standalone financial statements that gwe a true and fair v'ew of the financial position, financial performance, total comprehenswe income, changes in equity and cash flows of the Company in accordance with the Ind AS and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets d 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 des€n, 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 gwe a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial statements, management 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 management either intends to rquoate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are 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 standalone financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that ind.Jdes our opinion. Reasonable assurance is a h€h level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will a~ays detect a material misstatement when it exists. Misstatements can are from fraud or error and are considered material if, indivoually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professonal skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, desen and perform audit procedures responsive to those risks, and obtain audit evdence that is sufficient and appropriate to provoe a basis for our opinon. The risk of not detecting a material misstatement resulting from fraud is h@her than for one resulting from error, as fraud may invowe coDusion, forgery, intentional omissions, misrepresentations, or the override of internal control
- Obtain an understanding of nternal financial controls relevant to the audit in order to des@n audit procedures that are appropriate n the circumstances. Under secton 143(3)(0 of the Act, we are also responsible for expressing our opnon on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.
- Evak.Jate the appropriateness of accounting potcles used and the reasonableness of accounting x--1--' lD.'i,'r, estimates and related disclosures made by management.
~ ~ ' ·f'pnck.Jde on the apprprteness of ~anagement's use of the going concern basis of accounting ~ - hd, based on the audit evidence obtaned, whether a material uncertainty exists related to events ,..,%dAcr:JJ·/· r conditbns that may cast sgnifk:ant doubt on the Company's abuity to continue as a going concern, If we concllde that a material uncertainty exists, we are requr-ed to draw attenfon in our audtor's report to the related disclosures h the standabne fnanclal statements or, if such
disclosures are inadequate to dih• · · · · · . , mo "Y our oprn:m. Our conclusons 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 standalone financial statements, including the disclosures, and whether the standalone financial statements represent the under~ing 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 snificant audit findings, including any snificant defciencies in internal control that we identfy during our audit.
We also provide those charged with governance with a statement that we have compfied with relevant ethical requirements regarding independence, and to communicate with them an relationships and other matters that may reasonab~ be thought to bear on our independence, and where applcable, related safeguards.
Other Matters
The Standalone annual financial results includes the results for the quarter ended March 31,2022 being the balancing figures between the audited figures in respect of full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were limited reviewed by us.
For M C Bhandari & Co. Chartered Accountants Firm Registration No.: 30 Ravindra Bhandari
Partner Membership No.: 097466
UDIN: 2. 2.. 097 4-6GA-TM L -z.. s 3g J 2-
Place: New Delhi Date: 24th May 2022
1vf_ C <Blianiari 4 Co.
Cfiartered Accountants 401-Jt, 13akJ/iiJfouse, 40-41, Nefiru Pface, New([)e{fii-110019 ?rf.o6i(e: 9810236616, 'E-mai(: mc6code(fii@gmai[ com
Independent Auditors' Report on the quarterly and year to date Audited Consolidated Financial Results of the Company pursuant to Regulation 33 of SEBI (Listing obligations and Disclosure Requirements) Regulations 2015, as amended
TO THE BOARD OF DIRECTORS OF
Poly Medicure limited
Report on the Audit of Consolidated Financial Results
Opinion:
We have audited the accompanying Statement of Consolidated Financial Results of Poly Medicure Limited ("Holding") and its subsidiaries (the Holding and its subsidiaries together referred to as the group") and its associate for the quarter and year ended 3pt March 2022 (" the statement), being submitted by the Holding pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 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 consideration of reports of other auditor-son separate Audited financial statements of foreign subsidiaries and Indian subsidiary, the aforesaid statement:
- i. Include the annual financial results of the entities listed in Annexure-1
- ii. is presented in accordance with the requirements of Regulation 33 of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by circular no. CIR/CFD/FAC/62/2016 dated 5th .July 2016; and
- iii. gives a true and fair view in conformity with the Indian Accounting Standards (Ind AS) and other accounting principles generally accepted in India of the consolidated net profit (Including other comprehensive income) and other financial information of the Group and of associate for the quarter and year ended 31st March 2022.
Basis for Opinion
We conducted our audit of the consolidated financial statements in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group and its associate in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the consolidated financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAl's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to pro ide a basis for our audit opinion on the consolidated financial statements. ~ "-~~~3 -,._
Management's Responsibility for the consolidated financial Statements CJ ew z: ' , <-' • ,,,..,r. ,,:: .. / ta cc'j~ '/
These Consolidated annual financial results have been prepared on the basis of the consolidate annual financial statements.
--=- ..... ,, r
The Holding Company's Management and Board of Directors are responsible for the matters stated in section 134(5) of the Act with respect to preparation of these consolidated financial statements that give a true and fair view of the consolidated financial position, consolidated financial performance, consolidated total comprehensive income, consolidated changes in equity and consolidated cash flows of the Group including its associate in accordance with the Ind AS and other accounting principles generally accepted in India. The respective Board of Directors of the companies included in the Group and of its associate are responsible for maintenance of the adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and its associate 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 consolidated financial statements 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 Holding company as aforesaid.
In preparing the consolidated financial statements, the respective Board of Directors of the companies included in the Group and of its associate are responsible for assessing the ability of the group and of its associate to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management 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 associate are also responsible for overseeing the financial reporting process of the Group and of its associate.
Auditor's Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements 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 these consolidated financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
~Identify and assess the risks of material misstatement of the consolidated financial statements, 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 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 Company and its subsidiary companies which 1,-1'.[. are companies incorporated in India, has adequate Internal financial controls system in place and th <oix-- f3~:1(2, operating effectiveness of such controls. < ~ ~ } 1• ew DI~,
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting?,;-~ · / estimates and related disclosures made by management and Board of directors. -~
Conclude on the appropriateness of management's and Board of Directors use of the going concern
(1 -•'
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 associate 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 consolidated financial statements 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 associate to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group and its associate of which we are the independent auditors and whose financial information we have audited to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the audit of the financial statements of such entities included in the consolidated financial statements of which we are the independent auditor. For the other foreign subsidiaries included in the consolidated annual financial results, which have been audited by Auditors situated outside India, such other auditors situated outside India remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in para "other matter'' in the Audit Report.
We communicate with those charged with governance of the holding company and such other one entity 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/CMD/1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of Listing Regulations as amended to the extent applicable.
Other Matters
-
- We did not audit the financial statements of one foreign subsidiary, whose financial statements reflect total assets of, 2116.98 lacs as at 31st March 2022 and total revenue of, 1542.50 lacs for the year then ended on that date and financial statements of one foreign associate in which the share of profit of the Group is, 244. 73 lacs. The financial statements of one foreign subsidiary namely Poly Medicure (Laiyang) Co. Ltd., China and of one associate namely Ultra for Medical Products (UMIC), Egypt, have been audited by other auditors situated outside India whose reports have been furnished to us and our opinion is based solely on the reports of the other auditors and the procedures performed by us as stated in para above "other maters".
-
- The Financial Statement of one foreign subsidiary (as Consolidated) namely Poly Medicure BV Netherlands in which financial statement of Step Subsidiary Plan 1 Health and Poly Health Medical INC. US are consolidated and whose consolidated financial statement/information reflect total assets of, 5983.36 lacs as at 31st March'2022, and total consolidated revenue of, 3392.22 lacs for the year ended on that date as considered in the Consolidated financial statements. These consolidated financial statement/financial information have not been audited as based on article 2.396 Section 6 of Dutch Civil Code, the said foreign subsidiary company Is exempt from the obligation to have the
annual accounts (including consolidated accounts) audited by the auditor, and are, therefore, management certified and have been furnished to us by the management and our opinion on the consolidated financial statements in so far as it relates to the aforesaid subsidiary is based solely on the basis of management certified consolidated financial statement as adjusted suitably to give effect to adopt uniform accounting policies.
- In respect of subsidiaries / associate located outside India whose financial result 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 auditor under generally accepted auditing standards applicable in their respective countries / management certified. The holding company's management has converted the financial results of such subsidiaries/associate located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India and made suitable adjustments to follow uniform accounting policies. 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 affair of such subsidiaries/ associate located outside India is based on the report of other auditors/ management certified and the conversion adjustment prepared by the management of the holding company and audited by us.
Our Opinion on Consolidated financial statements and our report on other legal and regulatory requirements is not modified in respect of the above matters with respect to our reliance on the work done and the report of the other auditors and the financlal statement/financial information as certified by Board of directors and the procedures performed by us as stated above in para above other matters.
- The Consolidated annual financial results includes the results for the quarter ended March 31,2022 being the balancing figures between the audited figures in respect of full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were limited reviewed by us.
For M. C. Bhandari & Co. Chartered Accountants Firm's Registration number: ~ Bhandari
Ravindra Partner Membership number: 097466
Place: New Delhi Date: 24th May 2022
-
- Poly Medicure (Laiyang) Co. Ltd.- China Wholly owned Subsidiary- Audited
-
- Poly Medicure BV Netherlands (Consolidated) Wholly owned Subsidiary- Management certified
-
- Ultra for Medical Products Co. (UMIC) Egypt -Associate Audited
-
- Plan 1 Health India Pvt. Ltd. Wholly owned subsidiary-Audited
Poly Medicure Limited
Regd. Office : 232-B, 3'' Floor, Okhla Industrial Estate, Phase -Ill, New Oelhi - 110020 (INDIA) T: +91-ll -33550700, 47317000, F: +91-11-26321894, 26321839 E: [email protected] W: polymedicure.com CIN: L 40300DL l 995PLC066923
Date: 24th May, 2022
Scrip Code: - 531768
The Manager, BSE Limited, Department of Corporate Services, Phirozee Jeejeebhoy Towers, Dalal Street, Mumbai- 400001.
Scrip Code:- POL YMED
The Manager National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1-Block-G Bandra Kurla Complex, Bandra(E), Mumbai-400051.
Subject: Declaration of impact of un-modified audit qualifications (Standalone & Consolidated)
Ref: Compliance of Regulation 30 (3)(d) of SEBI (LODR) Regulations, 2015
Dear Sir/ Madam,
In Compliance of Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015, We hereby declare that M/s. M.C. Bhandari & Company, Statutory Auditors of the Company have issued Audit Report with un-modified opinion on the Audited Financial Results (Standalone & Consolidated) for the fourth quarter and financial year ended on 31st March, 2022.
Kindly take a note of the same for your further needful and oblige us.
Thanking You,
Yours Sincerely
For Poly Medicure Limited Na h Vijayvergiya C. .0