POLYCAB INDIA LIMITED Polycab House, 771 Mogul Lane, Mahim (W), Mumbai – 400016 CIN: L31300GJ1996PLC114183 Tel : +91 22 2432 7070-74 Fax : +91 22 2432 7075 Email: [email protected] Website: www.polycab.com

Date: 21st July 2021

To Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400 001

To Listing Department National Stock Exchange of India Limited C-1, G-Block, Bandra-Kurla Complex Bandra (E), Mumbai – 400 051

Scrip Code: 542652 Scrip Symbol: Polycab ISIN:- INE455K01017

Dear Sir / Madam

Sub: Un-audited Interim Condensed (Standalone and Consolidated) Financial Statements for the quarter ended 30 th June 2021.

With reference to the captioned subject, please find enclosed herewith the un-audited Interim Condensed (Standalone and Consolidated) Financial Statements of the Company, along with Review Reports for the quarter ended 30th June 2021 as approved by the Board of Directors at its meeting held today i.e. 21st July 2021.

Kindly take the same on your record.

Thanking you

Yours Faithfully For Polycab India Limited

Company Secretary and Compliance Officer

Membership No.: A18321 Address: Polycab House, 771, Mogul Lane Mahim (West), Mumbai - 400 016

30 June 2021 Unaudited Interim Condensed Consoldiated Financial Statements

Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

		Index	Page No.
		Auditors' Review Report	1
	Balance Sheet		3
		Statement of Profit and Loss	4
		Statement of Changes in Equity	5
		Statement of Cash Flows	5

		Overview and notes to the condensed financial statements
A		Overview
	1	Corporate Information	6
	2A	Basis of preparation	6
	2B	Use of estimates and judgements	6
	2C	Accounting policies	6
	2D	Estimation of uncertainties relating to global health pandemic from COVID-19	6
	2C	Recent pronouncement	6

B		Notes to condensed financial statements
	3	Property, plant and equipment	7
	4	Right of use assets	8
	5	Intangible assets	8
	6	Investment	9
	7	Cash and cash equivalents	9
	8	Inventories	9
	9	Borrowings	10
	10	Trade payables	11
	11	Revenue from operations	12
	12	Other income	12
	13	Finance cost	13
	14	Other expenses	13
	15	Earnings per share	13
	16	Contingent liabilities and commitments	14
	17	Related party disclosure	14
	18	Segment Reporting	16
	19	Financial Instruments and Fair Value Measurement	18
	20	Financial Risk Management Objectives And Policies	19
	21	Hedging activity and derivatives	22
	22	Income Tax order effect	23
	23	Events after the reporting period	23
	24	Others	23

	The Statement includes the financial statements of the following entities:
--	----------------------------------------------------------------------------

Sr.No	Name of the Company	Relationship
	Dowells Cable Accessories Private Limited	Subsidiary Company
	Tirupati Reels Private Limited	Subsidiary Company
3	Polycab USA LLC	Subsidiary Company
4	Polycab Electricals & Electronics Private Limited	Subsidiary Company
5	Polycab Australia Pty Ltd	Subsidiary Company
6	Silvan Innovations Labs Private Limited	Subsidiary Company
	Ryker Base Private Limited	Subsidiary Company
8	Uniglobus Electricals and Electronics Private Limited	Subsidiary Company
9	Polycab Support Force Private Limited	Subsidiary Company
10	Techno Electromech Private Limited	Joint Venture Company

Unaudited Interim Condensed Consolidated Balance Sheet as at 30 June 21 Polycab India Limited

Polycab India LimitedUnaudited Interim Condensed Consolidated Balance Sheet as at 30 June 21


ASSETS
Non-current assets
Property, plant and equipment	3	18,165.55	18,261.17
Capital work-in-progress	3	1,269.53	990.50
Goodwill		68.80	22.58
Right of use assets	4	353.48	341.00
Intangible assets	5	218.40	71.25
Intangible under development		5.96	-
Investment accounted for using the equity methodFinancial assets	6A	96.78	118.18
(a)Trade receivables		1,300.11	1,283.60
(b)Other financial assets		617.41	615.18
Non-current tax assets (net)		458.60	297.59
Deferred tax assets (net)		0.11	0.11
Other non-current assets		464.49	419.52
		23,019.22	22,420.68
Current assets
Inventories	8	26,025.79	19,879.10
Financial assets
(a)Investments	6B	5,888.40	6,231.27
(b)Trade receivables		9,292.12	14,357.67
(c)Cash and cash equivalents	7	752.72	2,378.03
(d)Bank balance other than cash and cash equivalents		3,242.87	2,935.15
(e)Loans		150.59	122.66
(f)Other financial assetsOther current assets		354.882,828.52	259.371,563.18
		48,535.89	47,726.43
Total assets		71,555.11	70,147.11
EQUITY AND LIABILITIES
Equity
(a)Equity share capital		1,491.60	1,491.19
(b)Other equity		46,802.60	46,048.21
		48,294.20	47,539.40
Non-controlling interests		201.06	188.29
		48,495.26	47,727.69
Liabilities
Non-current liabilities:
Financial liabilities
(a)Borrowings	9A	911.99	1,036.76
(b)Lease liabilities		237.77	226.34
Other non-current liabilities		346.58	340.96
Provisions		287.73	251.44
Deferred tax liabilities (net)		417.62	418.14
		2,201.69	2,273.64
Current liabilities:
Financial liabilities
(a)Borrowings(b)Lease liabilities	9B	2,256.09110.50	1,450.09111.83
(c)Trade payables	10
Total outstanding dues of micro enterprises and small enterprises		465.14	258.13
Total outstanding dues of creditors other than micro enterprises and small enterprises		14,112.52	13,222.19
(d)Other financial liabilities		614.43	1,306.93
Other current liabilities		3,001.89	3,277.92
Provisions		255.36	235.25
Current tax liabilities (net)		42.23	283.44
		20,858.16	20,145.78
Total equity and liabilities		71,555.11	70,147.11
Corporate information and summary of significant accounting policies	1 & 2	0.004425	(0.002454)

Contingent liabilities and commitments	16

As per our report of even date For B S R & Co. LLP Chartered Accountants

ICAI Firm Registration No. 101248W/W-100022

Bhavesh Dhupelia Partner Membership No. 042070

Place: Mumbai Date: 21 July 2021

Page 3 of 23

Polycab India Limited


INCOME
Revenue from operations	11	18,805.17	9,765.95
Other income	12	252.93	336.28
Total income		19,058.10	10,102.23
EXPENSESCost of materials consumed		17,230.65	5,129.55
Purchases of stock-in-trade		1,261.99	424.56
Changes in inventories of finished goods, stock-in-trade and work-in-progress		(4,338.19)	1,262.18
Project bought outs and subcontracting cost		244.54	280.80
Employee benefits expenseFinance cost	13	958.57121.64	812.48162.96
Depreciation and amortisation expense		521.33	442.72
Other expenses	14	2,054.18	1,281.61
Total expensesProfit before share of profit/(loss) of joint ventures and exceptional items		18,054.711,003.39	9,796.86305.37
Share of profit/(loss) of joint ventures (net of tax)		(21.40)	(11.68)
Profit before tax and exceptional items		981.99	293.69
Exceptional items		-	97.18
Profit before taxIncome tax expenses		981.99	390.87
Current tax		263.81	80.25
Adjustment of tax relating to earlier periods (refer note 22)		(30.55)	(861.07)
Deferred tax (credit)/charge		(3.89)	(3.86)
Total tax expenseProfit for the period		229.37752.62	(784.68)1,175.55
Other comprehensive income
Items that will not be reclassified to profit or loss
Re-measurement gains / (losses) on defined benefit plans		(48.48)	(6.91)
Income tax relating to items that will not be reclassified to Profit or LossItems that will be reclassified to profit or loss		12.20	1.80
Exchange difference on translation of foreign operations		(0.33)	0.31
Designated cash flow hedges		12.77	302.23
Income tax relating to items that will be reclassified to Profit or Loss		(3.21)	(76.06)
Other comprehensive income for the period, net of taxTotal comprehensive income for the period, net of tax		(27.05)725.57	221.371,396.92
Profit for the period attributable to:
Equity shareholders of parent company		739.85	1,176.02
Non controlling interests		12.77	(0.47)
Other comprehensive Income attributable to:		752.62	1,175.55
Equity shareholders of parent company		(27.05)	221.37
Non controlling interests		-	-
		(27.05)	221.37
Total comprehensive Income attributable to:Equity shareholders of parent company		712.80	1,397.39
Non controlling interests		12.77	(0.47)
		725.57	1,396.92
Earnings per share (not annualised)	15
		4.964.94	7.907.87
Weighted average equity shares used in computing earnings per equity share	15
Basic		149,137,399	148,915,184
Diluted		149,807,682	149,394,033
Corporate information and summary of significant accounting policies	1 & 2
Contingent liabilities and commitmentsOther notes to accounts	1617 to 24
The accompanying notes are an integral part of the unaudited interim condensed consolidated financial statements.

As per our report of even dateFor B S R & Co. LLP
Chartered Accountants
ICAI Firm Registration No. 101248W/W-100022

Bhavesh Dhupelia Partner

Place: Mumbai Date: 21 July 2021

Membership No. 042070

Page 4 of 23

A) Equity Share Capital

Balance at the beginning of the period	1,491.19	1,488.79

Polycab India LimitedUnaudited Interim Condensed Consolidated Statement of Changes in Equity for period ended 30 June 21

A) Equity Share Capital
Balance at the beginning of the periodIssue of equity shares on exercise of employee stock optionsBalance at the end of the period					1,491.192.401,493.59	1,488.792.401,491.19
B) Other Equity


As at 1 Apr 2020	27.15	7,149.55	614.00	241.45	28,967.59	(126.49)	2.11	36,875.36	150.00	37,025.36
Profit after tax for the three monthsItems of OCI for the period, net of tax	-	-	-	-	1,176.02	-	-	1,176.02	(0.47)	1,175.55
Re-measurement gains / (losses) on defined benefit plans	-	-	-	-	(5.11)	-	-	(5.11)	-	(5.11)
Exchange difference on translation of foreign operationsDesignated cash flow hedges	--	--	--	--	--	-226.17	0.31-	0.31226.17	--	0.31226.17
Share-based payments to employeesExercise of employee stock option	-11.22	--	--	33.03(11.22)	--	--	--	33.03-	--	33.03-
Amount received on exercise of employee stock optionsIssue of equity shares on exercise of employee stock options	15.17(37.67)	-37.13	--	--	--	--	--	15.17(0.54)	--	15.17(0.54)
As at as at 30 Jun 2020	15.87	7,186.68	614.00	263.26	30,138.50	99.68	2.42	38,320.41	149.53	38,469.94
Profit after tax for the nine monthsItems of OCI for the period, net of tax	-	-	-	-	7,644.92	-	-	7,644.92	38.66	7,683.58
Re-measurement gains / (losses) on defined benefit plansExchange difference on translation of foreign operations	--	--	--	--	40.86-	--	-(2.47)	40.86(2.47)	-0.10	40.86(2.37)
Designated cash flow hedges	-	-	-	-	-	(99.68)	-	(99.68)	-	(99.68)
Share-based payments to employeesExercise of employee stock option	-53.50	--	--	77.16(53.50)	--	--	--	77.16-	--	77.16-
Amount received on exercise of employee stock optionsIssue of equity shares on exercise of employee stock options	68.88(133.29)	-131.42	--	--	--	--	--	68.88(1.87)	--	68.88(1.87)
As at as at 31 Mar 2021	4.96	7,318.10	614.00	286.92	37,824.28	-	(0.05)	46,048.21	188.29	46,236.50
Profit after tax for the three monthsItems of OCI for the year, net of tax	-	-	-	-	739.85	-	-	739.85	12.77	752.62
Re-measurement gains / (losses) on defined benefit plansExchange difference on translation of foreign operations	--	--	--	--	(36.28)-	--	-(0.33)	(36.28)(0.33)	--	(36.28)(0.33)
Designated cash flow hedges	--	--	--	-26.01	--	9.56-	--	9.5626.01	--	9.5626.01
Share-based payments to employeesExercise of employee stock option	12.59	-	-	(12.59)	-	-	-	-	-	-
Amount received on exercise of employee stock optionsIssue of equity shares on exercise of employee stock options	15.97(29.42)	-29.03	--	--	--	--	--	15.97(0.39)	--	15.97(0.39)
As at 30 Jun 21	4.10	7,347.13	614.00	300.34	38,527.85	9.56	(0.38)	46,802.60	201.06	47,003.66
Unaudited Interim Condensed Standalone Statement of Cash flows for the period ended 30 June 2021
Profit before tax								981.99		390.87
Adjustments to reconcile profit before tax to net cash flowsMovements in working capital								750.70(2,683.48)		230.712,771.12
Income tax paid (including TDS) (net of refunds)								(633.48)		(350.79)
Net cash flows generated form / (used in) operating activitiesNet cash flows generated form / (used in) investing activities								(1,584.27)(802.00)		3,041.91(3,164.78)
Net cash flows generated form / (used in) financing activities								747.69		615.28
Net increase / (decrease) in cash and cash equivalentsCash and cash equivalents at the beginning of the period								(1,638.58)2,378.87		492.401,721.62
Cash and cash equivalents at the period end								740.29		2,214.02
Unaudited Interim Condensed Standalone Statement of Cash flows for the period ended 30 June 2021


Balances with banks

	Three months periodended	Three monthsperiod ended
	30 Jun 21	30 Jun 20
	(Unaudited)	(Unaudited)
Profit before tax	981.99	390.87
Adjustments to reconcile profit before tax to net cash flows	750.70	230.71
Movements in working capital	(2,683.48)	2.771.12
Income tax paid (including TDS) (net of refunds)	(633.48)	(350.79)
Net cash flows generated form / (used in) operating activities	(1,584.27)	3.041.91
Net cash flows generated form / (used in) investing activities	(802.00)	(3, 164.78)
Net cash flows generated form / (used in) financing activities	747.69	615.28
Net increase / (decrease) in cash and cash equivalents	(1,638.58)	492.40
Cash and cash equivalents at the beginning of the period	2.378.87	1.721.62
Cash and cash equivalents at the period end	740.29	2.214.02

Unaudited Interim Condensed Standalone Statement of Cash flows for the period ended 30 June 2021 Balances with banks In current accounts 383.78 452.16 Deposits with original maturity of less than 3 months 1,828.00 299.40 Cash in hand 2.24 1.16 Cash and cash equivalents 2,214.02 752.72 Cash Credit from banks (Secured) - (12.43) Cash and cash equivalents in Cash Flow Statement 2,214.02 740.29 Corporate Information and summary of significant accounting policies 1 & 2 Contingent liabilities and commitments 16 Other notes to accounts 17 to 24 The accompanying notes are an integral part of the unaudited interim condensed consolidated financial statements.

As per our report of even dateFor B S R & Co. LLPChartered AccountantsICAI Firm Registration No. 101248W/W-100022Bhavesh DhupeliaPartnerMembership No. 042070

Place: MumbaiDate: 21 July 2021

1. Corporate information

The Board of Directors approved the Consolidated Financial Statements for the quarter ended 30 June 2021 and authorised for issue on 21 Polycab India Limited (the (CIN - L31300GJ1996PLC114183) was incorporated as Wires Private on 10 January 1996 at Mumbai as a private limited company under the Companies Act, 1956. The Company became a deemed public limited company under Section 43A(1) of the Companies Act, 1956, and the word was struck off from the name of the Company with effect from 30 June 2000. Thereafter, the Company was converted into a private limited company under section 43A(2A) of the Companies Act, 1956, and the word was added in the name of the Company with effect from 15 June 2001. Subsequently, the Company was converted into a public limited company, the word was struck off from the name of the Company and consequently, a fresh certificate of incorporation dated 29 August 2018 was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana recording the change of the name to Wires Thereafter, the name of the Company was changed from Wires to India and a fresh certificate of incorporation dated 13 October 2018 was issued by the ROC. The Consolidated Financial Statements relates to Polycab India Limited Parent along with its subsidiaries The registered office of the Parent Company is Unit 4, Plot Number 105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, The Group is the largest manufacturer of Wires and Cables in India and fast growing player in the Fast Moving Electrical Goods (FMEG) space. The Group is also in the business of Engineering, Procurement and Construction (EPC) projects. The Group owns 23 manufacturing These unaudited interim condensed consolidated financial statements for the three months ended 30 June 2021 financial have been prepared in accordance with the accounting principles generally accepted in India, including the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) 34, Interim Financial Reporting as specified under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder. Accordingly, the said interim financial statements do not include all the information required for a complete set of annual Ind AS financial statements and should be read in conjunction with the latest annual financial statements and related notes included in the Annual Report for the year ended 31 March 2021. However, selected explanatory notes are included to explain events and transactions that are significant for the understanding of the

Gujarat 389350.

facilities, located across the states of Gujarat, Maharashtra, Uttarakhand, and U.T. Daman.

2. Summary of significant accounting policies

Basis of preparation

The preparation of the condensed financial statements requires the use of certain critical accounting estimates and judgements. It also requires the Management to exercise judgement in the process of applying the accounting policies. The areas where estimates are significant to the condensed financial statements, or areas involving a higher degree of judgement or complexity, are the same as those The accounting policies adopted in the preparation of the interim financial statements are consistent with those followed in the preparation of the Group's latest annual financial statements and related notes included in the Annual Report for the year ended 31 March The amendments to Schedule III of the Companies Act, 2013 are applicable from 01 April 2021. The Group has given effect of amendment During the quarter ended 30 June 2021, India experienced a second wave of COVID-19 resulting into subdued economic activities. However, Business operations of the Group in the current period have improved in comparison to the last year. While there is no material impact on the carrying amounts of current assets of the Group, considering the uncertainties associated with COVID-19, the Group will

July 2021.

B) Use of estimates and judgements

On 18 June 2021, MCA through a notification has notified Companies (Indian Accounting Standards) Amendment Rules, 2021. The notification has made amendments to various Ind AS. The Group does not expect the amendments to have any significant impact in its

C) Accounting policies

D) Estimation of uncertainties relating to global health pandemic from COVID-19

continue to closely monitor any material changes to future economic conditions.

E) Recent pronouncement

by inclusion of the relevant disclosures under explanatory notes or by way of additional notes, wherever significant in nature

financial statements.

3. Property, plant and equipment

Polycab India Limited
Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

3. Property, plant and equipment
The changes in the carrying value of property, plant and equipment for the period ended 30 June 2021 are as follows:
				Electrical	Furniture	Office			Lease		Capital
	Freehold	Buildings	Plant and	installatio	and	equipmen	Windmill	Vehicles	hold	Total	Work in
	land		equipments	ns	fixtures	ts			improvements		progress
Gross carrying value (at cost)
As at 01 Apr 2021	1,321.15	9,211.29	13,851.23	899.20	215.02	386.59	295.04	102.68	3.44	26,285.64	990.50
Additions on account of acquisition
through business combination (refer	-	-	-	-	0.73	3.25	-	-	-	3.98	-
note 6)
Additions	3.09	0.17	297.06	43.59	0.84	34.87	-	2.80	-	382.42	588.73
Transfer	-	-	-	-	-	-	-	-	-	-	(309.70)
Disposals/Adjustments	-	-	-	-	-	(1.48)	-	-	-	(1.48)	-
As at 30 Jun 2021	1,324.24	9,211.46	14,148.29	942.79	216.59	423.23	295.04	105.48	3.44	26,670.56	1,269.53
Accumulated depreciation
As at 01 Apr 2021Additions on account of acquisition	-	1,374.57	5,866.31	346.64	77.87	219.70	94.30	42.52	2.56	8,024.47	-
through business combination (refernote 6)	-	-	-	-	0.54	3.09	-	-	-	3.63	-
Depreciation charge for the period	-	89.42	346.07	19.27	4.41	12.15	3.95	2.91	0.12	478.30	-
Disposals/Adjustment	-	-	-	-	-	(1.40)	-	-	-	(1.40)	-
As at 30 Jun 2021	-	1,463.99	6,212.38	365.92	82.82	233.54	98.25	45.43	2.68	8,505.01	-
Net carrying value
As at 30 Jun 2021	1,324.24	7,747.46	7,935.91	576.87	133.77	189.69	196.79	60.05	0.76	18,165.55	1,269.53
The changes in the carrying value of property, plant and equipment for the period ended 31 March 2021 are as follows:
									Lease
	Freehold	Buildings	Plant and	Electricalinstallatio	Furnitureand	Officeequipmen	Windmill	Vehicles	hold	Total	CapitalWork in
	land		equipments	ns	fixtures	ts			improve		progress
									ments
Gross carrying value (at cost)
As at 01 Apr 2020	1,018.21	7,168.77	10,445.57	603.36	158.91	296.34	295.04	122.66	4.51	20,113.37	2,411.78
Additions on account of acquisition throughbusiness combination	292.93	715.96	1,544.43	96.17	23.67	41.93	-	-	-	2,715.09	47.52
Additions	11.95	1,327.92	1,897.63	199.67	32.77	54.27	-	6.63	-	3,530.84	1,786.31
Transfer	-	-	-	-	-	-	-	-	-	-	(3,204.98)
Disposals/Adjustments	(1.94)	(1.36)	(36.40)	-	(0.33)	(5.95)	-	(26.61)	(1.07)	(73.66)	(50.13)
As at 31 Mar 2021Accumulated depreciation	1,321.15	9,211.29	13,851.23	899.20	215.02	386.59	295.04	102.68	3.44	26,285.64	990.50
As at 01 Apr 2020	-	1,024.02	4,604.16	272.13	57.58	160.47	78.58	48.00	2.98	6,247.92	-
	-	28.83	60.33	9.15	2.35	8.64	-	-	-	109.30	-
			1,229.21	65.36	18.10	56.22	15.72	14.34	0.56	1,721.38	-

Additions on account of acquisition throughbusiness combinationDepreciation charge for the periodDisposals/Adjustment	--	321.87(0.15)	(27.39)	-	(0.16)	(5.63)	-	(19.82)	(0.98)	(54.13)	-

Freehold land Buildings Plant and equipments Electrical installatio ns Furniture and fixtures Office equipmen ts Leasehold improve ments Total Capital Work in progress Gross carrying value (at cost) As at 01 Apr 2020 - 1,024.02 4,604.16 272.13 57.58 160.47 78.58 48.00 2.98 6,247.92 - 28.83 - 60.33 9.15 2.35 8.64 - - - 109.30 - Depreciation charge for the period - 321.87 1,229.21 65.36 18.10 56.22 15.72 14.34 0.56 1,721.38 - Disposals/Adjustment - (0.15) (27.39) - (0.16) (5.63) - (19.82) (0.98) (54.13) - As at 31 Mar 2021 - 1,374.57 5,866.31 346.64 77.87 219.70 94.30 42.52 2.56 8,024.47 - Net carrying value As at 31 Mar 2021 1,321.15 7,836.72 7,984.92 552.56 137.15 166.89 200.74 60.16 0.88 18,261.17 990.50 Notes:- Freehold land- Halol 10.48 No Freehold land- Kolkata 1.14 No Freehold land- Daman 1.82 No Freehold land- Halol 0.11 No Additions on account of acquisition through business combination Additions on account of acquisition through business combination Freehold land- Delhi 21.73 No

Additions on account of acquisition throughbusiness combination






(a)(b) All property, plant and equipment are held in the name of the Group, except which are shown below :		Whether title deed holder is a
Description of item of property	Gross carrying value	promoter, director or relative ofpromoter / director or employee	of promoter/director		since which date	Property held			Reason for not being held in the nameof the Group
						2009	Mutation is in process
						2008	Mutation is in process
									Title deed is in dispute and is pending
Freehold land- Halol	10.48								resolution with government authority at
			No			2009	Gujarat
Freehold land- Kolkata	1.14		No			2008	Mutation is in process
Freehold land- Daman	1.82		No			2008	Mutation is in process
(c) CWIP ageing schedule
		Less than 1 year	1-2 years			2-3 years	More than 3years		Total
Projects in progress
Cable & Wire Projects		89.01		218.99		79.94		13.64		401.57
FMEG Projects		52.55		299.85		-				352.40
		133.73		117.39		-				251.12
				133.16		78.66		1.524		264.44
Backward Integration ProjectsOther Projects		51.10

				years	Total
Projects in progress
Cable & Wire Projects
FMEG Projects
Backward Integration Projects
Other Projects
	326.39	769.38	158.59	15.16	1,269.53

(h) CWIP completion schedule, whose completion is overdue or has exceeded its cost compared to its original plan: None (31 March 2021 : None)

Polycab India Limited
Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021


Right of use assets
The changes in the carrying value of right of use assets for the period ended 30 June 2021 are as follows:


Gross carrying value
As at 01 Apr 2021	41.78	470.56	512.34
Additions	-	56.16	56.16
Disposals	(0.03)	(31.63)
As at 30 Jun 2021	41.75	495.09
Accumulated depreciation
As at 01 Apr 2021	0.91	170.43
Depreciation charge for the period	0.11	37.96
4.Disposals	-	(26.05)
As at 30 Jun 2021	1.02	182.34
Net carrying valueAs at 30 Jun 2021	40.73	312.75	(31.66)536.84171.3438.07(26.05)183.36353.48

The changes in the carrying value of right of use assets for the period ended 30 June 2021 are as follows:


Gross carrying value
As at 01 Apr 2021	41.78	470.56	512.34
Additions	-	56.16	56.16
Disposals	(0.03)	(31.63)	(31.66)
As at 30 Jun 2021	41.75	495.09	536.84
Accumulated depreciation



As at 30 Jun 2021	1.02	182.34	183.36
Net carrying value

	40.73	312.75	353.48
As at 30 Jun 2021
The changes in the carrying value of right of use assets for the period ended 31 March 2021 are as follows:



Gross carrying valueAs at 01 Apr 2020	41.78	403.41	445.19
Additions	-	149.11	149.11
	-	(81.96)	(81.96)
DisposalsAs at 31 Mar 2021	41.78	470.56	512.34
Accumulated depreciation
As at 01 Apr 2020	0.45	106.82	107.27
Depreciation charge for the period	0.46	128.57	129.03
Disposals	-	(64.96)	(64.96)
As at 31 Mar 2021	0.91	170.43	171.34
Net carrying value
As at 31 Mar 2021	40.87	300.13	341.00
Intangible assets

Disposals		-	(81.96)	(81.96)
As at 31 Mar 2021		41.78	470.56	512.34
Accumulated depreciation


Disposals		-	(64.96)	(64.96)
As at 31 Mar 2021		0.91	170.43	171.34
Net carrying value
As at 31 Mar 2021		40.87	300.13	341.00
Intangible assets
The changes in the carrying value of intangible assets for the period ended 30 June 2021 are as follows:

Gross carrying value (at cost)
As at 01 Apr 2021	-	46.35	121.91	168.26
Additions on account of acquisition through business combination (refer note 6)	212.89	-	-	212.89
Additions	-	-	-	-
Disposals/Adjustments	-	-	-	-
As at 30 Jun 2021	212.89	46.35	121.91	381.15
Accumulated amortization
As at 01 Apr 2021	-	1.54	95.47	97.01
Additions on account of acquisition through business combination (refer note 6)	60.78	-	-	60.78
Amortisation charge for the period	-	1.16	3.80	4.96
Disposals/ Adjustments	-	-	-	-
As at 30 Jun 2021	60.78	2.69	99.27	162.75
Net carrying value
As at 30 Jun 2021	152.11	43.66	22.64	218.40
The changes in the carrying value of intangible assets for the period ended 31 March 2021 are as follows:
	TechnicalKnowhow	Brand	ComputerSoftware
Gross carrying value (at cost)
As at 01 April 2020	-	-	105.19	105.19
Additions on account of acquisition through business combination	-	-	9.87	9.87
Additions	-	46.35	18.45	64.80
Disposals	-	-	(11.60)	(11.60)
As at 31 Mar 2021	-	46.35	121.91	168.26
Accumulated amortization
As at 01 April 2020	-	-	88.43	88.43
Additions on account of acquisition through business combination	-	-	1.55	1.55
Amortisation charge for the period	-	1.54	13.76	15.30
Disposals/ Adjustments	-	-	(8.27)	(8.27)
As at 31 Mar 2021	-	1.54	95.47	97.01
Net carrying value

As at 31 Mar 2021 44.81 - 26.44 71.25

6. Investment

	Polycab India Limited
	Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

6.Investment
A	Non-current investments

	Investments carried at cost (Unquoted)
	Investment in Equity Instruments of Joint Venture (Fully paid-up)
	Techno Electromech Private Limited	4,040,000	118.18	4,040,000	112.40
	Add: Share in current period profit / (loss)		(21.40)		5.78
			96.78		118.18
	Aggregate amount of unquoted investments - At cost		96.78		118.18
B	Current Investments held for sale

	Investments measured at FVTPL (Quoted)
	Investments in Liquid/ Overnight Mutual Funds			5,888.405,888.40	6,231.276,231.27
	Aggregate amount of quoted investments - At cost			5,877.86	6,222.79
	Aggregate amount of quoted investments - At market value			5,888.40	6,231.27
	Note : Silvan Acquisition:

	million. The acquisition will augment our IOT based automation offerings and expand the potential addressable market in FMEG space.
	The results of Silvan operations have been consolidated by the Group on a line by line basis from the acquisition date. Further, the Group has allocatedpurchase price on net assets acquired on provisional basis as under:
(a)	The fair value of assets and liabilities recognised as a result of the acquisition are as follows:
Assets
	Tangible and Intangible assets				158.40
	Inventories				4.35
	Trade receivables				0.50
	Cash and cash equivalentsOther assets				6.194.44
					173.88
Liabilities
	Borrowings				(21.84)
	Trade payables				(21.86)
	Provisions				(7.78)
					(12.36)
	Deferred Tax Liabilities (Net)

Note : Silvan Acquisition:

(a)	The fair value of assets and liabilities recognised as a result of the acquisition are as follows:

Investments measured at FVTPL (Quoted)

	5,888.40	6,231.27


Note : Silvan Acquisition:

million. The acquisition will augment our IOT based automation offerings and expand the potential addressable market in FMEG space.
The results of Silvan operations have been consolidated by the Group on a line by line basis from the acquisition date. Further, the Group has allocatedpurchase price on net assets acquired on provisional basis as under:
(a)The fair value of assets and liabilities recognised as a result of the acquisition are as follows:
Assets





		173.88
Liabilities
Borrowings		(21.84)
Trade payables		(21.86)
Provisions		(7.78)
Deferred Tax Liabilities (Net)		(12.36)
Other liabilities		(54.72)
		(118.56)
Fair value of net assets acquired		55.32
(b)Computation of Goodwill
Consideration transferred		101.54
Fair value of net assets acquired		(55.32)
Goodwill		46.22
Cash and cash equivalents7.

Cash and cash equivalents (at amortised cost)
Balances with banks
In current accounts	452.16	765.14
Deposits with original maturity of less than 3 months	299.40	1,611.86
Cash in hand	1.16	1.03
	752.72	2,378.03
There is no repatriation restriction with regard to cash and cash equivalents at the end of reporting period and prior periods.
Inventories8.
	30 Jun 21	31 Mar 21
Raw materials	9,972.92	8,186.85
Work-in-progress	2,031.52	1,417.27
Finished goods	11,115.67	8,060.36
Stock-in-trade	1,737.45	1,171.80
Stores and spares	322.63	290.16
Packing materials	323.75	293.15
Scrap materials	344.60	237.49

Liabilities
Borrowings		(21.84)
Trade payables		(21.86)
Provisions		(7.78)
Deferred Tax Liabilities (Net)		(12.36)
Other liabilities		(54.72)
		(118.56)
Fair value of net assets acquired		55.32



Goodwill		46.22
Cash and cash equivalents

Cash and cash equivalents (at amortised cost)
Balances with banks



	752.72	2,378.03
There is no repatriation restriction with regard to cash and cash equivalents at the end of reporting period and prior periods.
Inventories
	30 Jun 21	31 Mar 21
Raw materials	9,972.92	8,186.85
Work-in-progress	2,031.52	1,417.27
Finished goods	11,115.67	8,060.36
Stock-in-trade	1,737.45	1,171.80
Stores and spares	322.63	290.16
Packing materials	323.75	293.15
Scrap materials	344.60	237.49
Project materials for long-term contracts	177.25	222.02
	26,025.79	19,879.10

	30 Jun 21	31 Mar 21

Work-in-progress	2,031.52	1,417.27
Finished goods	11,115.67	8,060.36

Stores and spares	322.63	290.16
Packing materials	323.75	293.15
Scrap materials	344.60	237.49
Project materials for long-term contracts	177.25	222.02
	26,025.79	19,879.10
Notes:-

(a)

(b) Inventories are hypothecated with the bankers against working capital limits (refer note 9).

9. Borrowings

Polycab India LimitedNotes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021
Borrowings9.
ABorrowings- non-current	Rate of Interest	Tenureend date	30 Jun 21Gross/Carrying	31 Mar 21Gross/Carrying
			Value	Value
At amortised cost
External commercial borrowing (secured)
Foreign currency loan from SCB	4.90%	2 February 2024	1,349.37	1,455.40
Rupee loan (secured)Indian rupee loan from Citibank N.A.	8.80%	23 August 2021	14.96	29.93
Indian rupee loan from HDFC Bank (i)	8.02% fluctuating	7 July 2024	101.95	111.88
			1,466.28	1,597.21
Less: Current maturities of long-term borrowings			(554.29)	(560.45)
(i)Rate of Interest is calculated at Weighted average rate of interest.			911.99	1,036.76
Tenure end date is date of last EMI date of loan repayment schedule as on 30 June 2021.
Notes:
(a)The above loans are secured by way of			ofallmovable	fixedassets
(i)Firstparipassuchargebywayofregisteredmortgageon	specificimmovablefixedassets	atHalolandhypothecation
acquired on or after 1 April 2015.(ii)Secondparipassuchargebywayofhypothecationofallassets of the Parent Company.	movablefixedassetsappearingin	balancesheetason	31March2015	andonallcurrent
(iii)Charges with respect to above borrowing has been created in favour of security trustee. No separate charge created for each of the borrowing.
(iv)TermLoanofGroup'ssubsidiaryRykerBasePrivateLtd.andimmovableProperties,PlantandEquipmentsofthedebts and stocks.(v)TermLoanofGroup'ssubsidiaryTirupatiReelsPrivate	(RBPL)issecuredagainstCompanyandb)PariPassufirstLimited(TRPL)issecuredagainst	hypothecationofa)Parichargebywayofhypothecationofa)	PassufirstchargehypothecationoncurrentStockintrade	onallmovableassets,bookbothpresent&
Futureconsistingofrawmaterial,finishedgoods,goodsin	processofmanufacturingand	othergoods,movable	assetsor	merchandiseproperty;
b) Receivables; c) Plant & Machinery both present & future; d) Fixed Deposits and e) Moveable assets.(vi)All charges are registered with ROC within statutory period by the Group.
(vii)Term loans were applied for the purpose for which the loans were obtained.
Movement in borrowing schedule for the period ended 30 June 2021(b)
		ECB	Rupee loan	Total
As at 01 Apr 2021		1,455.40	141.81	1,597.21
Less: Repayments		(103.42)	(14.97)	(118.39)
Less: Foreign exchange loss		(12.54)	-	(12.54)
As at 30 Jun 2021		1,339.44	126.84	1,466.28
Movement in borrowing schedule for the period ended 31 March 2021
		ECB	Rupee loan	Total
As at 01 Apr 2020		251.29	204.76	456.05
Additions on account of acquisitionAdd: Proceeds		1,965.51-	-33.47	1,965.5133.47

(i) Rate of Interest is calculated at Weighted average rate of interest.

Notes:

(a) The above loans are secured by way of

(i) acquired on or after 1 April 2015.
(ii) assets of the Parent Company.
(iii) Charges with respect to above borrowing has been created in favour of security trustee. No separate charge created for each of the borrowing.
(iv) debts and stocks.
(v) b) Receivables; c) Plant & Machinery both present & future; d) Fixed Deposits and e) Moveable assets.
(vi) All charges are registered with ROC within statutory period by the Group.
(vii) Term loans were applied for the purpose for which the loans were obtained.

(b) Movement in borrowing schedule for the period ended 30 June 2021

Less: Foreign exchange loss	(12.54)	-	(12.54)

ECB Rupee loan Total As at 01 Apr 2020 251.29 204.76 456.05 Additions on account of acquisition 1,965.51 1,965.51 - Add: Proceeds - 33.47 33.47 Less: Repayments (769.82) (96.42) (866.24) Less: Foreign exchange loss 8.42 8.42 - As at 31 Mar 2021 1,455.40 141.81 1,597.21 B Borrowings- current

Less: Foreign exchange loss-(12.54)	(12.54)







Less: Foreign exchange loss8.42-	8.42
As at 31 Mar 20211,455.40141.81	1,597.21
Borrowings- current

At amortised cost
Cash Credit from banks (Secured)12.43	0.84
Short-term loan from banks (Unsecured)637.92	883.56
Short-term loan from banks (Secured)360.00	5.24
Loan from others0.75	-
Loan from Directors0.04	-
Buyer's Credit (Secured)690.66	-
Current maturities of long-term borrowings554.29	560.45
2,256.09	1,450.09

(a) The above loans are secured by way of

(i) Secured borrowings from banks are secured against pari passu first charge by way of hypothecation of inventories and receivables .
(ii) premises, factory land and building at Halol, Daman and office building at Mumbai.
(iii) Pari passu first charge by way of hypothecation of all movable fixed assets appearing in balance sheet as on 31 March 2015.
(iv) Pari passu second charge by way of registered mortgage on all movable assets acquired on or after 01 April 2015.
(v) borrowing.
(vi) All charges are registered with ROC within statutory period by the Group.
(vii) Funds raised on short term basis have not been utilised for long term purposes and spent for the purpose it were obtained.

Polycab India Limited
Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021
Trade payables
At Amortised Cost
Total outstanding dues of micro and small enterprises
Trade payables to related parties (refer Note - 17)					38.68	40.89

Trade payables - Others					426.46	217.24
					465.14	258.13
Total outstanding dues of creditors other than micro and small enterprises
Acceptances - (refer note below (a))					9,148.90	6,537.51
Other than acceptances
Trade payables - Others (refer note below (b))					4,652.72	6,463.77
Trade payables to related parties (refer note - 17)					310.90	220.91
					14,112.52	13,222.19
Notes:-(a)Acceptancesrepresentamountspayabletofundbasedworkingcapitalfacilityapprovedpassu charge over the present and future current assets of the Group.(b)Othersincludesamountpayabletovendors,operating cycle or due to be settled within twelve months from the reporting date.(c)For explanations on the Group's liquidity risk management processes refer note 20(C).Trade Payables ageing scheduleAs at 30 June 2021	banksonduedateasperbyBanksfortheGroup.employeesliabilityand	usanceperiodThearrangementsaccrualof	ofLetterofCreditareexpensesthat	(LCs)issuedinterest-bearing.Non-fundareexpectedto	torawmateriallimitsaresecuredbesettledinthe	vendorsundernonbyfirstpariGroup'snormal
				Outstanding for following periods from due date of payment
	Not due	Less than 1year	1-2 years	2-3 years	More than 3years	TOTAL
(i) MSME	353.59	111.55	-	-	-	465.14
(ii) Others
Acceptances	9,148.90	-	-	-	-	9,148.90
Other than acceptances	607.62	3,986.70	242.82	66.43	60.06	4,963.62
	9,756.52	3,986.70	242.82	66.43	60.06	14,112.52
As at 31 March 2021
		Less than 1	1-2 years	Outstanding for following periods from due date of payment	More than 3	TOTAL

		year		2-3 years	years

(a) passu charge over the present and future current assets of the Group.
(b) operating cycle or due to be settled within twelve months from the reporting date.
(c) For explanations on the Group's liquidity risk management processes refer note 20(C).

As at 30 June 2021
			Outstanding for following periods from due date of payment
	Not due	Less than 1			years	TOTAL

(i) MSME	353.59	111.55	-	-	-	465.14
(ii) Others

	Total outstanding dues of creditors other than micro and small enterprises
Acceptances - (refer note below (a))					9,148.90	6,537.51
Other than acceptances


					14,112.52	13,222.19

Notes:-
(a)
passu charge over the present and future current assets of the Group.
(b)
operating cycle or due to be settled within twelve months from the reporting date.

(c)For explanations on the Group's liquidity risk management processes refer note 20(C).

As at 30 June 2021
				Outstanding for following periods from due date of payment
	Not due	Less than 1				TOTAL
(i) MSME	353.59	111.55	-	-	years-	465.14
(ii) Others
Acceptances	9,148.90	-	-	-	-	9,148.90
Other than acceptances	607.62	3,986.70	242.82	66.43	60.06	4,963.62
	9,756.52	3,986.70	242.82	66.43	60.06	14,112.52

As at 31 March 2021
				Outstanding for following periods from due date of payment
					More than 3	TOTAL
	Not Due	Less than 1
		year	1-2 years	2-3 years	years
(i) MSME	194.02	64.11	-	-	-	258.13
(ii) Others
Acceptances	6,537.51	-	-	-	-	6,537.51
Other than acceptances	1,479.358,016.87	4,714.964,714.96	117.65117.65	236.62236.62	136.10136.10	6,684.6813,222.19

Polycab India Limited
Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021



11.Revenue from operations



Revenue from contracts with customers
Revenue on Sale of ProductsFinished goods	16,850.17	8,118.05
Traded goods	1,032.24	1,030.52
Revenue from Construction Contracts	432.78	432.94
	18,315.19	9,581.51
Other operating revenue
Job work income	7.76	-
Scrap sales	459.56
Total revenue from contracts with customers	18,782.51
Export incentives	2.43
Government grant	20.23
Total Revenue from operations	18,805.17	110.969,692.4720.9752.519,765.95
Notes:
(a)Disaggregated revenue information

		30 Jun 20
Type of Goods or Services

	Revenue from contracts with customers
	Revenue on Sale of Products


	Revenue from Construction Contracts	432.78	432.94
		18,315.19	9,581.51
	Other operating revenue








(a)	Disaggregated revenue information


			30 Jun 20
	Type of Goods or Services
	Wires & Cables	15,687.55	7,741.89
	Fast Moving Electrical Goods (FMEG)	1,918.79	1,373.55
	Copper	555.75	95.07
	Revenue from construction contracts	432.78	432.94
	Others	187.63	49.02
	Total revenue from contracts with customers	18,782.51	9,692.47
	Location of customer
	India	17,650.87	8,679.15
	Outside India	1,131.64	1,013.32

	Total revenue from contracts with customers	18,782.51	9,692.47
	Timing of revenue recognition
	Goods transferred at a point in time	18,345.14	9,252.97
	Goods and Services transferred over a period of time	437.38	439.50
	Total revenue from contracts with customers	18,782.51	9,692.47
(b)	Reconciliation of the revenue from contracts with customers with the amounts disclosed in the segment information


		30 Jun 21	30 Jun 20
	Total revenue from contracts with customers	18,782.51	9,692.47
	Export incentives (i)	2.43	20.97
		20.23	52.51
	Government grant (ii)
	Other income excluding finance income	127.42	123.38
	Total income as per Segment (Refer note 18)	18,932.59	9,889.33
	(i)Export incentive includes merchandise export from India scheme (MEIS) incentives and duty drawback incentives.(ii)Governmentgrantincludesadvancelicencebenefitsanddeferredincomereleasedtothe	statementofprofitandloss	onfulfilmentof
	export obligation under the export promotion capital goods (EPCG) scheme.
12.	Other income



(a)	Interest income on financial assets
	Carried at amortised cost
	Bank deposits	47.91	18.28

			179.95
	Others (i)	23.63
	Carried at FVTPL
	Others	0.90	1.12
(b)	Income from Investments designated at FVTPL
	Gain on liquid/overnight mutual funds	51.00	11.36

		30 Jun 21	30 Jun 20
	Total revenue from contracts with customers	18,782.51	9,692.47
	Export incentives (i)	2.43	20.97
	Government grant (ii)	20.23	52.51


	Export incentive includes merchandise export from India scheme (MEIS) incentives and duty drawback incentives.
	(ii)export obligation under the export promotion capital goods (EPCG) scheme.





	Carried at amortised cost
	Bank deposits	47.91	18.28
			179.95
	Others (i)	23.63
	Carried at FVTPL
	Others	0.90	1.12
(b)	Income from Investments designated at FVTPL
	Gain on liquid/overnight mutual funds	51.00	11.36

Polycab India LimitedNotes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021





















Other income
(c)Other non-operating income
Exchange differences (net)	115.71	104.23
Gain on sale of property, plant and equipment	0.21	-
Gain on termination of Lease	3.18	-
Sundry balances written back	1.64	5.44
Miscellaneous income	6.68	13.71
	252.93	336.28
(i)Three months period ended 30 June 2020 includes interest on Income Tax refund of Rs. 163.89 million (refer note 22).
(ii)GainonfairvaluationoffinancialinstrumentsatFVTPLincludesforeignexchangefluctuation	onforwardcontractsthatdidnot	qualifyforhedge
accounting and on embedded derivatives, which have been separated.

13.Finance costs


	30 Jun 21	30 Jun 20
Interest expense on financial liabilities at amortised cost	50.27	102.33
Interest expense on financial liabilities at FVTPL	11.60	7.10
Exchange differences regarded as an adjustment to borrowing costs	0.69	32.93
Other borrowing costs (i)	59.08	20.60
	121.64	162.96
(i)Other borrowing costs would include bank commission charges, bank guarantee charges, letter of credit charges, premium on forward contract,

fair value loss/(gain) on forward contracts, other ancillary costs incurred in connection with borrowings

14.Other expenses


	30 Jun 21	30 Jun 20
Consumption of stores and spares	226.16	130.65
Sub-contracting expensesPower and fuel	381.89308.79	250.75126.31

30 Jun 21	30 Jun 20




121.64	162.96

				252.93	336.28
	(i)Three months period ended 30 June 2020 includes interest on Income Tax refund of Rs. 163.89 million (refer note 22).
	(ii)
	accounting and on embedded derivatives, which have been separated.



				30 Jun 21	30 Jun 20





	(i)Other borrowing costs would include bank commission charges, bank guarantee charges, letter of credit charges, premium on forward contract,			121.64	162.96
14.	fair value loss/(gain) on forward contracts, other ancillary costs incurred in connection with borrowingsOther expenses


				30 Jun 21	30 Jun 20
	Consumption of stores and spares			226.16	130.65
	Sub-contracting expenses			381.89	250.75
	Power and fuel			308.79	126.31
	Rent			13.90	18.86
	Advertising and sales promotion			78.36	31.73
	Brokerage and commission			68.56	40.29
	Travelling and conveyance			67.74	18.18
	Legal and professional fees			134.65	79.51
	Freight & forwarding expenses			401.48	264.72
	Sundry advances written off			3.99	1.82
	Loss on sale of property, plant and equipment and non-current assets held for sale			-	0.18
	Derivatives at FVTPL (refer below note (a))			28.12	65.22
	Impairment allowance for trade receivable considered doubtful			55.28	27.84
	CSR expenditure			51.30	40.10
	Other miscellaneous expenses			233.96	185.45
				2,054.18	1,281.61
15.	(a)LossonfairvaluationoffinancialinstrumentsatFVTPLrelatestoforeignhedge accounting and on embedded derivatives, which have been separated.Earnings per share(a)Basic Earnings per share	exchangefluctuation	onforward	contractsthatdid	notqualifyfor

				30 Jun 21	30 Jun 20
	Profit after taxation		A	739.85	1,176.02
	Weighted average number of equity shares for basic earning per share	Number	B	149,137,399	148,915,184
			(A/B)	4.96	7.90

	(b)Diluted Earnings per share


				30 Jun 21	30 Jun 20
	Profit after taxation		A	739.85	1,176.02
	Weighted average number of equity shares for basic earning per share	Number	B	149,137,399	148,915,184
	Effect of dilution
	Share options	Number	C	670,283	478,849

	Weighted average number of equity shares adjusted for effect of dilution	Number	D=(B+C)	149,807,682	149,394,033

	30 Jun 21	30 Jun 20

Other miscellaneous expenses			233.96	185.45
			2,054.18	1,281.61
hedge accounting and on embedded derivatives, which have been separated.

			30 Jun 21	30 Jun 20





			30 Jun 21	30 Jun 20
Profit after taxation		A	739.85	1,176.02
Weighted average number of equity shares for basic earning per share	Number	B	149,137,399	148,915,184
Effect of dilution
	Number	C	670,283	478,849
Share options
Weighted average number of equity shares adjusted for effect of dilution	Number	D=(B+C)	149,807,682	149,394,033

	Polycab India Limited
	Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

16.	Contingent liabilities and commitments
(A)	Contingent liabilities (to the extent not provided for)
	(i)Taxation matters
	Disputed liability in respect of sales tax /VAT demand & pending sales tax / VAT forms	4.90	4.30
	Disputed liability in respect of Service tax duty demand	18.17	18.17
	Disputed liability in respect of excise duty demand	8.60	8.60
	Disputed liability in respect of custom duty demand	17.08	17.04
	(ii)Customs Duty on Capital goods imported under Export Promotion Capital Goods Scheme,against which export obligation is to be fulfilled	174.84	171.63
	(iii)Customs Duty on Raw Materials imported under Advance License, against which exportobligation is to be fulfilled	206.12	207.38
	Notes:
	(a)Inrespectoftheitemsabove,futurecashoutflowsinrespectofcontingentliabilitiesjudgements/decisionspendingatvariousforums/authority.TheGroupdoesn'texpecttheoutcome	aredeterminableofmattersstated	onlyonreceiptofabovetohavea
	material adverse effect on the Group's financial conditions, result of operations or cash flows.
	(b)ThereisuncertaintyandambiguityininterpretingandgivingeffecttotheguidelinesofHonourable	SupremeCourt	videitsrulingin
	February2019,inrelationtothescopeofcompensationonwhichtheorganisationandits	employeesareto	contributetowards
	Provident Fund. The Group will evaluate its position and act, as clarity emerges.
(B)	Commitments
		30 Jun 21	31 Mar 21
	Capital commitments
	(Estimated value of contracts in capital account remaining to be executed and not provided
	for (net of capital advances))
	Towards Property, Plant and Equipment	955.21	1,241.81
	Related party disclosure
	transactionswithrelatedpartiesaremadeontermsequivalenttothosethatprevailinarm'slengththe period-end are unsecured and settlement occurs in cash or credit as per the terms of the arrangement.	transactions.Outstanding	balancesat
17.The
	Enterprises where control exists


(A)(i)	Joint VenturesTechno Electromech Private Limited (TEPL)India	50%	50%

Commitments
	30 Jun 21	31 Mar 21
Capital commitments
(Estimated value of contracts in capital account remaining to be executed and not providedfor (net of capital advances))
Towards Property, Plant and Equipment	955.21	1,241.81

17. Related party disclosure

	Disputed liability in respect of excise duty demand		8.60	8.60

	(ii)against which export obligation is to be fulfilled	Customs Duty on Capital goods imported under Export Promotion Capital Goods Scheme,	174.84	171.63
	(iii)obligation is to be fulfilled	Customs Duty on Raw Materials imported under Advance License, against which export	206.12	207.38
	Notes:
	(a)
	(b)Provident Fund. The Group will evaluate its position and act, as clarity emerges.
(B)	Commitments		30 Jun 21	31 Mar 21
	Capital commitments
		(Estimated value of contracts in capital account remaining to be executed and not provided
	for (net of capital advances))
	Towards Property, Plant and Equipment		955.21	1,241.81
17.	Related party disclosure
The(A)	transactionswithrelatedpartiesaremadeonEnterprises where control exists	termsequivalenttothosethatprevailinarm'slengththe period-end are unsecured and settlement occurs in cash or credit as per the terms of the arrangement.	transactions.Outstanding	balancesat
(i)	Joint Ventures
	Techno Electromech Private Limited (TEPL)	India	50%	50%
(C)	Dowells Electricals (DE)D J Electricals Private Limited (DJEPL)Tirupati Tradelinks Private Limited (TTPL)Key management personnel
(i)	Executive directors
	Mr. Inder T. Jaisinghani	Chairman and managing Director
	Mr. Ramesh T. Jaisinghani (c)	Whole-time director (up to 12 May 2021)
	Mr. Ajay T. Jaisinghani (c)	Whole-time director (up to 12 May 2021)
	Mr. Shyam Lal Bajaj (a) (c)	Whole time director (up to 12 May 2021)
	Mr. Rakesh Talati (d)	Whole-time director (w.e.f. 13 May 2021)
	Mr. Bharat A. Jaisinghani (d)	Whole-time director (w.e.f. 13 May 2021)
	Mr. Nikhil R. Jaisinghani(d)	Whole-time director (w.e.f. 13 May 2021)
(ii)	Non- Executive directors
	Mr. R S Sharma	Independent director
	Mr. T P Ostwal	Independent director
	Mr. Pradeep PoddarMs. Hiroo Mirchandani	Independent directorIndependent director (up to 12 May 2021)
	Ms. Sutapa Benerjee	Independent director (w.e.f. 13 May 2021)
(iii)	Key management personnel
	Mr. Gandharv Tongia	Chief financial officer (w.e.f. 31 May 2020)
	Mr. Subramaniam Sai Narayana (b)	Company secretary and compliance officer (upto 23 Jan 2021)
	Ms. Manita Gonsalves	Company secretary and compliance officer (w.e.f. 24 Jan 2021)
(iv)	Relatives of Key management personnel
	Mr. Girdhari T. Jaisinghani	Brother of Mr. Inder T. Jaisinghani, Mr. Ajay T. Jaisinghani & Mr. Ramesh T.Jaisinghani
	Mr. Kunal I. Jaisinghani	Son of Mr. Inder T. Jaisinghani
	Mr. Puneet Sehgal	Son in law of Ramesh T. Jaisinghani
(a)	12 May 2021.	Mr. Shyam Lal Bajaj resigned from CFO position w.e.f. closing business hours 30 May 2020 and continued as a whole time director till
	Mr. Subramaniam Sai Narayana resigned from Company secretary and compliance officer position w.e.f. 23 January 2021.
(b)(c)(d)	Resigned from Whole-time director position w.e.f. closing business hours 12 May 2021.Appointed as Whole-time director w.e.f. 13 May 2021.

Polycab India Limited Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

	Polycab India LimitedNotes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

(D)	Transactions with group companies

(i)	Sale of goods (including GST)
	Techno Electromech Private Limited	Joint Venture	8.58	2.12
(ii)	Purchase of goods (including GST)Techno Electromech Private Limited	Joint Venture	164.04	45.85
	Tirupati Tradelinks Private Limited (TTPL)	Enterprises owned orsignificantly influenced by key	38.68	10.79
		managerial personnel
(iii)	Sub-contracting expense (including GST)Techno Electromech Private Limited	Joint Venture	4.99	7.96
	Ryker Base Private Limited (upto 5 May 2020)	Joint Venture	-	1.34
	Tirupati Tradelinks Private Limited (TTPL)	Enterprises owned orsignificantly influenced by key	0.11	0.06
		managerial personnel
(iii)	Other ChargesDowells Electricals (DE)	Enterprises owned or	-	1.77
	D J Electricals Private Limited (DJEPL)	significantly influenced by keymanagerial personnel	-	1.52
(iii)	Rent received
	Ryker Base Private Limited (upto 5 May 2020)	Joint Venture	-	0.05
(ix)	Interest receivedTechno Electromech Private Limited	Joint Venture	3.43	3.45
(x)	Testing charges paid (including GST)
(xii)	Techno Electromech Private LimitedSale of Fixed Assets (including GST)	Joint Venture	0.04	-
	Techno Electromech Private Limited	Joint Venture	-	26.86
(xiii)	Purchase of Fixed Assets (including GST)Techno Electromech Private Limited	Joint Venture	-	0.57
(xv)	Loan given repaid
(xv)	Techno Electromech Private LimitedCommission paid	Joint Venture	5.21	-
		Enterprises owned or
	EPMR Australia Pty Ltd	significantly influenced by keymanagerial personnel	10.34	-
(xx)	Rent paid (including GST)
	AK Enterprises	Enterprises owned orsignificantly influenced by key	6.92	-
		managerial personnel
(E)	Outstanding as at:		30 Jun 21	31 Mar 21
(i)	LoansTechno Electromech Private Limited	Joint Venture	110.00	115.21
(ii)	Trade Receivables
	Techno Electromech Private Limited	Joint Venture	19.60	23.61
(iii)	Trade Receivables - FATechno Electromech Private Limited	Joint Venture	85.19	85.19
(vi)	Interest accrued on loan givenTechno Electromech Private Limited	Joint Venture	3.12	3.18
(vii)	Trade Payables
	Techno Electromech Private LimitedDowells Electricals (DE)	Joint Venture	67.910.08	71.300.08
	Dowells Elektro Werke (DEW)	Enterprises owned orsignificantly influenced by key	-	0.34
	D J Electricals Private Limited (DJEPL)Tirupati Tradelinks Private Limited (TTPL)	managerial personnel	0.2034.81	0.2040.89
		Enterprises owned or
	AK Enterprises	significantly influenced by keymanagerial personnel	2.06	-
(vii)	Commission Payable
	EPMR Australia Pty Ltd	Enterprises owned orsignificantly influenced by key	3.87	10.57
		managerial personnel
(viii)	Security Deposits given	Enterprises owned or
	AK Enterprises	significantly influenced by keymanagerial personnel	6.03	5.91

Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

Transactions with KMP:
Remuneration paid for the period ended and outstanding as at: (a)(i)
	30 Jun 21		30 Jun 20	31 Mar 21

	Three months	Outstanding as	Three months	Outstanding as
	period ended	at	period ended	at
Executive directors (Includes Salary, Performance Incentive and commission to CMD)
Mr. Inder T. Jaisinghani	21.20	113.30	21.57	99.05
Mr. Ramesh T. Jaisinghani	3.73	8.37	6.20	7.50
Mr. Ajay T. Jaisinghani	3.73	8.37	6.20	7.50
Mr. Bharat A. Jaisinghani	3.06	2.19	-	-
Mr. Nikhil R. Jaisinghani	3.06	2.19	-	-
Mr. Rakesh Talati	2.45	1.69	-	-
Mr. Shyam Lal Bajaj	3.25	6.88	5.50	6.17
Non- Executive directors (Includes sitting fees and commission)
Mr. T P Ostwal	0.76	2.50	0.94	2.00
Mr. R S Sharma	0.76	2.50	0.94	2.00
Mr. Pradeep Poddar	0.84	2.50	0.86	2.00
Ms. Hiroo Mirchandani	-	2.00	0.78	2.00
Ms. Sutapa Benerjee	0.60	0.50	-	-
Key management personnel (Includes Salary and Performance Incentive)
Mr. Gandharv Tongia	5.34	2.42	1.06	1.67
Ms. Manita Gonsalves	0.79	0.24	-	0.22
Mr. Subramaniam Sai Narayana	-	-	0.67	-
(a)Astheliabilitiesforgratuityandleaveencashmentareprovidedon	actuarialbasisforthe	Groupasawhole,	theamounts	pertainingtothe
directors and KMP are not included above.

Share based payments to KMP(a)
			Three months	Three months
			period ended	period ended
			30 Jun 21	30 Jun 20
Mr. Shyam Lal Bajaj			0.55	1.67
Mr. Gandharv Tongia			0.53	0.25
Mr. Rakesh Talati			0.29	-
Mr. Subramaniam Sai Narayana			-	0.17
(a) Represents expense by way of share based payments attributable to directors and KMP
Sale of fixed assets to KMP (Including GST)
	30 Jun 21		30 Jun 20	31 Mar 21
		Outstanding as	Three months	Outstanding as
	Three months

Three monthsperiod ended	Three monthsperiod ended
30 Jun 21	30 Jun 20

	Non- Executive directors (Includes sitting fees and commission)






	Key management personnel (Includes Salary and Performance Incentive)



	directors and KMP are not included above.

					Three months	Three months
					period ended	period ended
					30 Jun 21	30 Jun 20




	(a) Represents expense by way of share based payments attributable to directors and KMP

			30 Jun 21		30 Jun 20	31 Mar 21
			Three monthsperiod ended	Outstanding asat	Three monthsperiod ended	Outstanding asat
	Mr. Ramesh T. Jaisinghani		-	-	-	1.35
	Mr. Ajay T. Jaisinghani		-	-	-	0.17
	Mr. Puneet Sehgal		-	-	-	0.55

(iv)	Transactions where KMP's are interested
			30 Jun 21		30 Jun 20	31 Mar 21
		Nature of transaction	Three monthsperiod ended	Outstanding asat	Three monthsperiod ended	Outstanding asat
	Polycab Social Welfare Foundation	Donation	51.00	43.63	39.73	-
	T.P. Ostwal & Associates LLP (excluding GST)	Professional fees fortax advisory	0.14	0.28	0.65	0.16

(G)	Transactions with relatives of KMP:
	Remuneration paid for the period ended and outstanding as at:
			30 Jun 21		30 Jun 20	31 Mar 21
			Three monthsperiod ended	Outstanding asat	Three monthsperiod ended	Outstanding asat
	Mr. Bharat A. Jaisinghani		0.84	-	2.57	2.98
	Mr. Nikhil R. Jaisinghani		0.84	-	2.57	2.98
	Mr. Girdhari T. Jaisinghani		-	2.18	1.77	2.18
				0.24	0.61
	Mr. Kunal I. Jaisinghani		0.65			0.01


	30 Jun 21
Three monthsperiod ended	Outstanding asat	Three monthsperiod ended	Outstanding asat

The Group is organised into business units based on its products and services and has three reportable segments as follows:

Notes to Consolidated Financial Statements for period ended 30 June 21

(B) Revenue by Geography

The amount of its revenue from external customers analysed by the country, in which customers are located, are given below:
	Three months period ended

	30 Jun 21	31 Mar 21
Within India	17,800.95	8,876.01
Outside India	1,131.64	1,013.32
	18,932.59	9,889.33

Depreciation & amortisationexpenses	436.71	48.97	28.42	7.23	-	521.33	379.71	39.19	18.32	5.50	-	442.72
Non-cash expenses/ (Income)other than depreciation	199.83	12.98	(1.93)	15.15	-	226.03	(118.89)	12.71	-	(4.06)	-	(110.24)
Total cost incurred during theyear to acquire segment assets(net of disposal)	704.12	69.09	24.43	1.88	-	799.52	226.87	8.06	8.32	1.27	-	244.52
Revenue by Geography(B)
The amount of its revenue from external customers analysed by the country, in which customers are located, are given below:
									Three months period ended30 Jun 21		Three months period ended31 Mar 21
Within India										17,800.95		8,876.01
Outside India										1,131.64		1,013.32
										18,932.59		9,889.33
Segment assets as at:(C)
			30 Jun 21						31 Mar 21
	Wires &	FMEG	Copper	Others	Eliminations	Total	Wires &
	Cables

Investment accounted for using
the equity method						96.78						118.18
Current investments						5,888.40						6,231.27

Cash and cash equivalents
and bank balance (Includingfixed deposit)						4,575.70						4,710.15
Loans						150.59						206.60
Goodwill						68.80						22.58
Other unallocable assets						1,705.50						97.84
Total assets						71,555.11						70,147.11
(D)Segment liabilities as at:
	Wires &		30 Jun 21				Wires &		31 Mar 21
	Cables	FMEG	Copper	Others	Eliminations	Total	Cables	FMEG	Copper	Others	Eliminations	Total
Segment liabilities	13,141.64	1,911.79	133.41	3,230.37	-	18,417.21	12,643.75	2,666.93	361.97	3,376.25	-	19,048.90
Unallocated liabilities:
Borrowings (Non-Current andCurrent, including Current						3,168.08						2,385.86
Maturity)
Current tax liabilities (net)						42.23						267.45
Deferred tax liabilities (net)						417.62						337.64
Other unallocable liabilities						1,014.71						379.57
						23,059.85						22,419.42
Non-current assets by Geography(E)
The total of non-current assets excluding financial assets and deferred tax assets analysed by the country in which assets are located are given below:
											As at30 Jun 21	As at31 Mar 21
											23,019.12	22,420.57
Within India											0.11	0.11
Outside India											23,019.22	22,420.68

Other unallocable assets						1,705.50						97.84
Total assets						71,555.11						70,147.11
(D)Segment liabilities as at:
			30 Jun 21						31 Mar 21
	Wires &Cables	FMEG	Copper	Others	Eliminations	Total	Wires &
Segment liabilities	13,141.64	1,911.79	133.41	3,230.37	-	18,417.21	12,643.75	2,666.93	361.97	3,376.25	-	19,048.90
Unallocated liabilities:
Borrowings (Non-Current andCurrent, including CurrentMaturity)						3,168.08						2,385.86
Current tax liabilities (net)						42.23						267.45
Deferred tax liabilities (net)						417.62						337.64
Other unallocable liabilities						1,014.71						379.57
						23,059.85						22,419.42

The total of non-current assets excluding financial assets and deferred tax assets analysed by the country in which assets are located are given below:

	As at	As at



	23,019.22	22,420.68

19. Financial Instruments and Fair Value Measurement

	Polycab India Limited
	Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

19.For	Financial Instruments and Fair Value Measurementthepurposeoffairvaluedisclosures,theGrouphasdeterminedclassesofassets	andliabilitieson	thebasisofthe	nature,	characteristicsand
	risk of the assets or liability are explained as in the accounting policy of the Group.
Set	outbelow,isacomparisonbyclassofthecarryingamountsandfairvalueofthe	Group'sfinancial	instruments,	otherthanthose	withcarrying
	amounts that are reasonable approximations of fair values:
		Carrying value30 Jun 21	31 Mar 21	30 Jun 21	Fair value31 Mar 21
	Financial assets
	Measured at amortised cost
	Trade receivables	10,592.23	15,641.27	10,592.23	15,641.27
	Cash and cash equivalents	752.72	2,378.03	752.72	2,378.03
	Bank balance other than cash and cash equivalents (refer note h)	3,242.87	2,935.15	3,242.87	2,935.15
Loans	Other financial assets	150.59872.48	122.66840.76	150.59872.48	122.66840.76

	Measured at fair value through profit or loss account (FVTPL)Investment in mutual funds	5,888.40	6,231.27	5,888.40	6,231.27
	Derivative Assets	99.81	33.79	99.81	33.79
		21,599.10	28,182.93	21,599.10	28,182.93
	Financial liabilities
	Measured at amortised cost
	Borrowings - long term including current maturities and short term	3,168.08	2,486.85	3,278.60	2,603.89
	Trade payablesCreditors for capital expenditure	14,577.66166.85	13,480.32273.78	14,577.66166.85	13,480.32273.78
	Obligations under lease	348.27	338.17	359.12	348.53
	Fair value of corporate guarantee	-	-	-	-
	Other financial liabilities	54.82	56.51	54.82	56.51
	Measured at fair value through profit or loss account (FVTPL)
	Derivative liabilities	392.76	976.64	392.76	976.64
		18,708.44	17,612.27	18,829.81	17,739.67
	Interestrateswaps,foreignexchangeforwardcontractsandembeddedcommodityemploy the use of market observable inputs( closing rates of foreign currency and commodities).	derivativeare	valuedusing	valuation	techniques,which
	Embeddedforeigncurrencyandcommodityderivativesaremeasuredsimilarlyderivatives. The embedded derivatives are commodity and foreign currency forward contracts which are separated from purchase contracts.	totheforeign	currencyforward	contracts	andcommodity

(c)	Themanagementassessedthatcashandcashequivalents,tradereceivables,loanstoemployees,shorttermsecuritydepositandothercurrentliabilities	tradepayables,approximatetheircarrying	short-termamounts	borrowings,loanstolargelydueto	relatedparty,theshort-term
(d)	maturities of these instruments.Thefairvalueofthefinancialassetsandliabilitiesisincludedattheamount	atwhichthe	instrumentcould	beexchanged	inacurrent
	transaction between willing parties, other than in a forced or liquidation sale.
(e)	The fair values of the mutual funds are based on NAV at the reporting date.
(f)	The fair value of interest rate swaps are based on MTM bank rates as on reporting date.
(g)	TheGroupentersintoderivativefinancialinstrumentswithvariouscounterparties,creditratings.Foreignexchangeforwardcontractsarevaluedusingvaluationinputs.Themostfrequentlyappliedvaluationtechniquesincludeforwardmodelsincorporatevariousinputsincludingthecreditqualityofcounterparties,respectivecurrencies,currencybasisspreadsbetweentherespectivecurrencies,riskhadnomaterialeffectonthehedgeeffectivenessassessmentforinstruments recognised at fair value.	principallytechniques,whichpricingandswapmodels,foreignexchangeinterestratederivativesdesignated	financialinstitutionsemploystheusingspotandforwardcurves.Theinhedge	withuseofmarketpresentvaluerates,yieldchangesinrelationshipsand	investmentgradeobservablecalculations.Thecurvesofthecounterpartycreditotherfinancial
(h)
	Fair value hierarchy
All	assetsandliabilitiesforwhichfairvalueismeasuredordisclosedinthefinancial	statementsare	categorisedwithin	thefairvalue	hierarchy,to

(c) maturities of these instruments.
(d) transaction between willing parties, other than in a forced or liquidation sale.
(e) The fair values of the mutual funds are based on NAV at the reporting date.
(f) The fair value of interest rate swaps are based on MTM bank rates as on reporting date.
(g) All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, to provide an indication about the reliability of inputs used in determining fair value, the Group has classified its financial statements into three levels instruments recognised at fair value.
(h)

Fair value hierarchy

prescribed under the Ind AS as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

observable

The following table provides the fair value measurement hierarchy of the Group's assets and liabilities.

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at 30 June 2021 :

Polycab India LimitedNotes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at 30 June 2021 :
				Fair value measurement using
	Date of		Quoted prices	Significant	Significant
	valuation	Total	in activemarkets	observableinputs	unobservableinputs

Assets measured at fair value:			(Level 1)	(Level 2)	(Level 3)
Units of mutual funds	30 Jun 21	5,888.40	5,888.40	-	-
Derivative Assets
Embedded derivativesForward Contract	30 Jun 2130 Jun 21	94.603.59	--	94.603.59	--
Interest rate and cross currency swap	30 Jun 21	1.50	-	1.50	-

Liabilities measured at fair value:
Derivative liabilities :Commodity contracts	30 Jun 21	392.64	-	392.64	-
Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at 31 March 2021:
				Fair value measurement using
			Quoted prices	Significant	Significant
	Date ofvaluation	Total	in active	observable	unobservable
			markets	inputs	inputs
			(Level 1)	(Level 2)	(Level 3)
Assets measured at fair value:
Units of mutual fundsDerivative Assets	31 Mar 21	6,231.27	6,231.27	-	-
Forward Contract	31 Mar 21	31.37	-	31.37	-
Interest rate and cross currency swap	31 Mar 21	2.42	-	2.42	-

Liabilities measured at fair value:Derivative liabilities :

		Date ofvaluation	Total	Quoted pricesin activemarkets	Significantobservableinputs	Significantunobservableinputs

Assets measured at fair value:







Derivative liabilities :



					Fair value measurement using
		Date ofvaluation	Total	Quoted pricesin activemarkets	Significantobservableinputs	Significantunobservableinputs
				(Level 1)	(Level 2)	(Level 3)
Assets measured at fair value:
Units of mutual funds		31 Mar 21	6,231.27	6,231.27	-	-
Derivative Assets
Forward Contract		31 Mar 21	31.37	-	31.37	-
Interest rate and cross currency swap		31 Mar 21	2.42	-	2.42	-
Liabilities measured at fair value:
Derivative liabilities :
Embedded derivatives		31 Mar 21	320.09	-	320.09	-
Commodity contracts		31 Mar 21	656.55	-	656.55	-
TheGroup'spolicyistoTheGroups'sprincipalfinancialofthesefinancialliabilitiesisassetsincludeloans,tradeTheGroupisexposedtoCommitteetoperiodicallymechanism.TheRiskfinancialperformance.The	recognisetransfersintoandtransfersoutcircumstances that caused the transfer. However, there were no transfers between the levels as at the end of the reporting period.Financial Risk Management Objectives And Policiesliabilities,otherthanderivatives,comprisetofinancetheGroup'soperationsandtoandotherreceivables,andcashandcashFVTPL investments and enters into derivative transactions.marketrisk,creditriskandliquidityrisk.reviewtheriskmanagementpolicyoftheManagementCommittee'sfocusistoforeseeGroup'soverallriskmanagementprocedures	offairvalueloansandprovideguaranteesequivalentsthatTheBoardofGroupsothatthetheunpredictabilitytominimise	hierarchylevelsborrowingsandtosupportitsderivedirectlyDirectorsofthemanagementandminimizethepotential	asofthedatetradeandotheroperations.Thefromitsoperations.Grouphasmanagesthepotentialadverseeffects	oftheeventpayables.TheGroup'sTheformedaRiskriskthroughadverseeffectsoffinancial	orchangeinmainpurposeprincipalfinancialGroupalsoholdsManagementproperlydefinedontheGroup'smarketonthe
Group's performance are as follows:Market Risk(A)MarketriskistheriskMarketriskcomprisesFinancialinstrumentsinstruments.	thatthefairvalueoffuturecashflowsofthreetypesofrisk:interestraterisk,currencyaffectedbymarketriskincludeloans	afinancialinstrumentriskandotherandborrowings,	willfluctuatepricerisk,suchdeposits,	becauseofasequityFVTPLinvestments	changesinpriceriskandand	marketprices.commodityrisk.derivativefinancial
Interest rate risk(i)Interestrateriskisinterestrates.Theobligationswith	theriskthatthefairvalueorfuturecashGroup'sexposuretotheriskofchangesfloatinginterestrates.TheGroupisalsoinvestments in mutual fund units in overnight funds.	flowsofafinancialinmarketinterestexposedtotherisk	instrumentratesrelatesofchanges	willfluctuateprimarilytoinmarketinterest	becauseoftheGroup'srates	changesinmarketlong-termdebtrelatesduetoits
TheGroupmanagesswapsforlongtermvariablerateinterestaccounttheeffectof	itsinterestrateriskbyhavingafixedforeigncurrencyborrowings,inwhichitamountscalculatedbyreferencetoaninterestrateswaps,approximately54%	andvariablerateagreestoexchange,agreed-uponnotionaloftheGroup's	loansandatspecifiedprincipalborrowingsare	borrowings.Theintervals,theamount.At30atafixedrate	GroupentersintodifferenceJune2021,ofinterest(31	interestratebetweenfixedandaftertakingintoMarch2021:

obligations with floating interest rates. The Group is also exposed to the risk of changes in market interest rates relates due to its The Group manages its interest rate risk by having a fixed and variable rate loans and borrowings. The Group enters into interest rate swaps for long term foreign currency borrowings, in which it agrees to exchange, at specified intervals, the difference between fixed and variable rate interest amounts calculated by reference to an agreed-upon notional principal amount. At 30 June 2021, after taking into account the effect of interest rate swaps, approximately 54% of the Group's borrowings are at a fixed rate of interest (31 March 2021: Group's performance are as follows:

(A) Market Risk

(i) Interest rate risk

20. Financial Risk Management Objectives And Policies

Interest rate sensitivity

	Polycab India LimitedNotes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

	Financial Risk Management Objectives And Policies
	Interest rate sensitivity
	Thefollowingtabledemonstratesthesensitivityto	areasonablypossiblechange	ininterestrates	onthatportion	ofloansand	borrowings
	affected,aftertheimpactofhedgeaccounting.Withimpact on floating rate borrowings, as follows:	allothervariablesheldconstant,	theGroup's	profitbefore	taxisaffected	throughthe
						Effect on profit
		Exposure to interest rate risk(Principal amount of loan)		Increase/decrease in basis points		before tax
	30 Jun 2021		1,442.96			gain/ ( loss)
	Increase				+100	(14.43)
	Decrease				-100	14.43
	31 Mar 2021Increase		883.56		+100	(8.84)
	Decrease				-100	8.84
(ii)	Foreign currency risk
	Foreigncurrencyriskistheriskthatthefairvalue	orfuturecashflowsofan	exposurewill	fluctuatebecause	ofchanges	inforeign
	exchangerates.TheGroup'sexposuretotheactivities (when revenue or expense is denominated in a foreign currency) and the Group's borrowings in foreign currency.	riskofchangesinforeign	exchangerates	relatesprimarily	totheGroup's	operating
	Derivative financial instruments
	TheGroupentersintoderivativecontractswithan	intentiontohedgeitsforeign	exchangeprice	riskandinterest	risk.Derivative	contracts
	whicharelinkedtotheunderlyingtransactions	arerecognisedinaccordance	withthe	contractterms.	Suchderivative	financial
	instrumentsareinitiallyrecognisedatfairvaluemeasuredatfairvalue.Derivativesarecarriedas	onthedateonwhichaderivativefinancialassetswhenthefair	contractvalueispositive	isenteredintoandasfinancial	andareliabilities	subsequentlyre-whenthefair
	valueisnegative.Anygainsorlossesarisingfrom	changesinthefairvalueof	derivativesare	takendirectly	toStatement	ofProfit&
	Loss. To some extent the Group manages its foreign currency risk by hedging transactions.

	Particulars of unhedged foreign currency exposures as at the reporting date:	Currency	30 Jun 21Foreign		31 Mar 21Foreign	Indian
	Currency	Symbol	currency	Indian Rupees	currency	Rupees
					(73.77)	(5,422.40)
	United States Dollar	USD	(112.42)	(8,357.80)
	EURO	Euro	0.65	55.63	1.32	113.33
	PoundSwiss Franc	GBPCHF	2.640.20	271.7315.85	1.000.05
	Australian DollarFigures shown in bracket represent payable .	AUD	1.42	79.28	(7.10)	101.393.86(395.77)

Derivative financial instruments

	(Principal amount of loan)		decrease in basis points		gain/ ( loss)
30 Jun 2021		1,442.96
Increase				+100	(14.43)
Decrease				-100	14.43
31 Mar 2021		883.56


activities (when revenue or expense is denominated in a foreign currency) and the Group's borrowings in foreign currency.
Derivative financial instrumentsLoss. To some extent the Group manages its foreign currency risk by hedging transactions.
Particulars of unhedged foreign currency exposures as at the reporting date:
Currency	Currency	30 Jun 21		31 Mar 21
	Symbol	Foreigncurrency	Indian Rupees	Foreigncurrency	IndianRupees
United States Dollar	USD	(112.42)	(8,357.80)	(73.77)	(5,422.40)
EURO	Euro	0.65	55.63	1.32	113.33
Pound	GBP	2.64	271.73	1.00	101.39
Swiss Franc	CHF	0.20	15.85	0.05	3.86
Australian Dollar	AUD	1.42	79.28	(7.10)	(395.77)
Figures shown in bracket represent payable .
Foreign currency sensitivityThefollowingtablesdemonstratethesensitivitywithallothervariablesheldconstant.Theandliabilitiesincludingnon-designatedExchange Exposures is as follows:	toareasonablypossiblechangeimpactontheGroup'sprofitbeforetaxforeigncurrencyderivativesandembedded	inUSD,Euro,isduetoderivatives.	GBP,CHFchangesinthefairSensitivity	andAUDvalueofduetounhedged	exchangerates,monetaryassetsForeign
Impact on profit before tax and equity- gain/ ( loss)

Currency	CurrencySymbol	30 Jun 21		31 Mar 21
		+2%	-2%	+2%(108.45)	-2%108.45
	USD	(167.16)	167.16
United States Doller
EURO	Euro	1.11	(1.11)	2.27	(2.27)
Pound	GBP	5.43	(5.43)	2.03	(2.03)
Swiss FrancAustralian Dollar	CHFAUD	0.321.59	(0.32)(1.59)	0.08(7.92)	(0.08)7.92

Foreign currency sensitivity

Impact on profit before tax and equity- gain/ ( loss)

Currency	Currency	30 Jun 21		31 Mar 21
	Symbol
United States Doller	USD	(167.16)	167.16	(108.45)	108.45
EURO	Euro	1.11	(1.11)	2.27	(2.27)
Pound	GBP	5.43	(5.43)	2.03	(2.03)
Swiss Franc	CHF	0.32	(0.32)	0.08	(0.08)
Australian Dollar	AUD	1.59	(1.59)	(7.92)	7.92

20. Financial Risk Management Objectives And Policies

The Group's exposure to price risk of copper and aluminium arises from :

(iii) Commodity price risk Trade payables of the Group where the prices are linked to LME prices. Payment is therefore sensitive to changes in copper and aluminium prices quoted on LME. The provisional pricing feature (Embedded Derivatives) are classified in the balance sheet as fair value through profit or loss. The option to fix prices at future LME prices works as a natural hedge against the movement in value of inventory of copper and aluminium held by the Group. The Group also takes sell LME positions to hedge the price risk on inventory due to ongoing movement in rates quoted on LME. The Group applies fair value hedge to protect its copper and aluminium Inventory from the ongoing movement in rates. Purchases of copper and aluminium results in exposure to price risk due to ongoing movement in rates quoted on LME affecting the profitability and financial position of the Group. The risk management strategy is to use the buy future contracts linked to LME to hedge the variation in cash
- flows of highly probable future purchases. There are no outstanding buy future contracts link to LME as of 30 June 2021 and 31 March 2021.

	Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021Financial Risk Management Objectives And Policies



	The Group's exposure to price risk of copper and aluminium arises from :



	LME. The Group applies fair value hedge to protect its copper and aluminium Inventory from the ongoing movement in rates.



	flows of highly probable future purchases. There are no outstanding buy future contracts link to LME as of 30 June 2021 and 31 March 2021.

	Sensitivity analysis for unhedged exposure for the period ended 30 June 2021 are as follows:
	Exposure of Group in Inventory
			30 Jun 21				31 Mar 21
Metal	Hedge instruments	Exposure	Exposure in	Impact in Profit before tax -gain/ ( loss)		Exposure in	Exposure in	Impact in Profit beforetax -gain/ ( loss)
		in MetricTonne				MetricTonne
Copper		1,445	1,016.59	+2%(20.33)	-2%20.33			+2%-	-2%-
Aluminium	Embedded derivativeEmbedded derivative	1,490	305.34	(6.11)	6.11	-3,293	-588.35	(11.77)	11.77

Trade receivables and contract assets

Credit risk arising from investment in mutual funds, derivative financial instruments and other balances with banks is limited and there is no collateral held against these because the counterparties are banks and recognised financial institutions with high credit ratings assigned by the international credit rating The Group's principle sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Group believes that the Further, the Group manages its liquidity risk in a manner so as to meet its normal financial obligations without any significant delay or stress. Such risk is managed through ensuring operational cash flow while at the same time maintaining adequate cash and cash equivalents position. The management has arranged for diversified funding sources and adopted a policy of managing assets with liquidity in mind and monitoring future cash flows and liquidity on a regular basis. Surplus funds not immediately required are invested in certain financial assets (including mutual funds) which provide flexibility to liquidate at short notice and are included in current investments and cash equivalents. Besides, it generally has certain undrawn credit facilities which can be The Group has adopted a policy of only dealing with counterparties that have sufficient credit rating. The exposure and credit ratings of its counterparties are continuously monitored and the aggregate value of transactions is reasonably spread amongst the counterparties. Credit risk has always been managed through credit approvals, establishing credit limits and continuously monitoring the credit worthiness of customers to which the Group grants credit terms in the normal course of business. On account of adoption of Ind AS 109, the Group uses expected credit loss model to assess the impairment loss or gain. The Group has applied Expected Credit Loss (ECL) model for measurement and recognition of impairment losses on trade receivables. ECL has been computed as a percentage of revenue on the basis of Group's historical data of delay in collection of amounts due from customers and default by the customers along with management's estimates. The Group has sold without recourse trade receivable under channel finance arrangement for providing credit to its dealers. Evaluation is made as per the terms of the contract i.e. if the Group does not retain any risk and rewards or control over the financial assets, then the entity derecognises such assets upon transfer of financial assets under such arrangement with the banks. Derecognition does not result in significant gain / loss to the Group in the In certain cases, the Group has sold with recourse trade receivables to a bank for cash proceeds. These trade receivables have not been derecognised from the statement of financial position, because the Group retains substantially all of the risks and rewards primarily credit risk. The amount received on transfer has been recognised as a financial liability (Refer note 9(B)). The arrangement with the bank is such that the customers remit cash directly to the bank and the bank releases the limit of facility used by the Group. The receivables are considered to be held within a held-to-collect business model The carrying amount of trade receivables at the reporting date that have been transferred but have not been derecognised and the associated liabilities is

Statement of profit and loss.

agencies.

(C) Liquidity risk

working capital is sufficient to meet its current requirements.

accessed as and when required, which are reviewed periodically. The Group has developed appropriate internal control systems and contingency plans for managing liquidity risk. This incorporates an assessment of Corporate guarantees given on behalf of Group Companies might affect the Liquidity of the Group if they are payable. However, the Group has adequate

expected cash flows and availability of alternative sources for additional funding, if required.

liquidity to cover the risk. (Refer note 16(A))

Maturity Analysis

The table below summarises the maturity profile of the Group's financial liabilities based on contractual undiscounted payments.
		30 Jun 21			31 Mar 21
	< 1 year	> equal to1 year	Total	< 1 year	> equal to1 year	Total
Borrowings	2,256.09	1,010.30	3,266.39	1,450.10	1,138.21	2,588.31
Lease liability	175.61	360.23	535.84	136.59	274.03	410.62
Other financial liabilities	614.43	-	614.43	1,306.93	-	1,306.93
Trade payables	14,577.66	-	14,577.66	13,480.32	-	13,480.32
		17,623.79 1,370.53	18,994.32	16,373.94	1,412.24	17,786.18

The other financial liabilities includes derivative liability, for maturity analysis refer note 21(B).

21. Hedging activity and derivatives

(A) Fair value hedge of copper and aluminium price risk in inventory (i) (B) Cash flow hedge associated with highly probable forecasted purchases of copper and aluminium: classificationThe Group enters into contracts to purchase copper and aluminium wherein the Group has the option to fix the purchase price based on LME price of copper and aluminium during a stipulated time period. Accordingly, these contracts are considered to have an embedded derivative that is required to be separated. Such feature is kept to hedge against exposure in the value of inventory of copper and aluminium due to volatility in copper and aluminium prices. The Group designates the embedded derivative in the payable for such purchases as the hedging instrument in fair value hedging of inventory. The Group designates only the spot-to-spot movement of the copper and aluminium inventory as the hedged risk. The carrying value of inventory is accordingly adjusted for the effective portion of change in fair value of hedging instrument. Hedge accounting is discontinued when the hedging instrument is settled, or when it is no longer qualifies for hedge accounting or when the hedged item is sold. To use the Sell future contracts linked with LME to hedge the fair value risk associated with inventory of copper and aluminium. Once the purchases are concluded and its final price is determined, the Group starts getting exposed to price risk of these inventory till the time it is not been sold. The policy is to designate the copper and aluminium inventory which are already priced and which is not been sold at that point in time in a hedging relationship against Sell LME future positions based on the risk management strategy of the Group. The hedged risk is movement in spot To test the hedge effectiveness between embedded derivatives/derivatives and LME prices of copper and aluminium, the Group uses the said prices during a stipulated time period and compares the fair value of embedded derivatives/derivatives against the changes in fair value of LME price of The Group has established a hedge ratio of 1:1 for the hedging relationships as the underlying embedded derivative/derivative is identical to the LME The Group has purchases of copper and aluminium which results in exposure to price risk due to ongoing movement in rates quoted on LME which affects the profitability and financial position of the Group. The risk management strategy is to use the Buy future contracts linked to LME to hedge the variation in cash flows of highly probable future purchases. The Group designate the monthly copper and aluminium purchases as a highly probable
- (ii) rates.

Hedged item:

Hedging instrument:

	hedging instrument is settled, or when it is no longer qualifies for hedge accounting or when the hedged item is sold.
(ii)rates.
	copper and aluminium attributable to the hedged risk.
	price of Copper and Aluminium.
	Disclosure of effects of fair value hedge accounting on financial position:
Hedged item:
	Changes in fair value of inventory attributable to change in copper and aluminium prices.
Hedging instrument:
	Changes in fair value of the embedded derivative of copper and aluminium trade payables and Sell future contracts, as described above.

variationincashAs at 30 June 2021	flowsofhighlyprobablefutureforecasted transaction in a hedging relationship based on the risk management strategy of the Group.	purchases.	TheGroup	designatethe	monthly	copperand	aluminium	purchasesasa	highlyprobable
			Carrying amount					Effective	Ineffective
	Commodity price risk	Asset	Liabilities	Equity	Maturitydate	Hedge Ratio	Balance sheet	portion ofHedge -Gain/( loss)	portion ofHedge -Gain/ (loss)

Fair Value Hedge	Inventory of Copper
	and aluminium	234.32	-	-		1:1	Inventory
Hedged item	Highly probable futurepurchases	-	-	(12.77)		1:1	Cash flowhedge
	Embedded derivativein trade payables of	-	94.60	-	Rangewithin1 to 8	1:1	ReserveCurrentfinancial	(221.56)	(76.48)
Hedging instrument	Copper and aluminium				months		liabilitiesCurrent
	Buy Derivative Position	-	12.77	-		1:1	financialliabilitiesCurrent
		-	(405.40)			1:1	financialliabilities
	Sell Derivative Position
	The following table presents details of amounts held in effective portion of Cash Flow Hedge and the period during which these are going to be released
	and affecting Statement of profit and Loss - gain/ (loss)					As at 30 Jun 21
						Cash Flow hedge release to P&L
Commodity Price risk			Less than 3 Months	3 Months to 6 Months			6 Months to 12 Months	Total
Buy Future Contracts- Copper			(5.18)	(0.33)		-			(5.51)
Buy Future Contracts- Aluminium			18.18	0.10		-			18.28
Sell Future Contracts- Copper			(209.24)	-		-			(209.24)

	As at 30 Jun 21
	Cash Flow hedge release to P&L

Commodity Price risk
Buy Future Contracts- Copper
Buy Future Contracts- Aluminium
Sell Future Contracts- Copper

Polycab India Limited








	Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

As at 31 March 2021
			Carrying amount		Maturity		Balance sheet	Effectiveportion of	Ineffectiveportion of
	Commodity price risk	Asset	Liabilities	Equity	date	Hedge Ratio	classification	Hedge -Gain/( loss)	Hedge -Gain/ ( loss)
Fair Value Hedge
Hedged item	Inventory of Copperand aluminium	896.65	-	-		1:1	Inventory
	Embedded derivativein trade payables ofCopper and aluminium	-	(320.08)	-	Rangewithin	1:1	Currentfinancialliabilities
					1 to 6		Current	(896.65)	(79.99)
Hedging instrument	Buy Derivative Position	-	22.97	-	months	1:1	financial
							liabilitiesCurrent
	Sell Derivative Position	-	(679.51)			1:1	financial
	The following table presents details of amounts held in effective portion of Cash Flow Hedge and the period during which these are going to be released						liabilities
	and affecting Statement of profit and Loss - gain/ (loss)
						As at 31 Mar 21Cash Flow hedge release to P&L
					3 Months to 6 Months		6 Months to 12 Months	Total
		Less than 3 Months
Commodity Price risk
Buy Future Contracts- Copper			(1.33)	-		-		(1.33)
Buy Future Contracts- AluminiumSell Future Contracts- Copper			24.29(396.87)	-	(173.78)	--		24.29(570.65)
Sell Future Contracts- Aluminium			(82.32)		(26.06)		(0.48)	(108.86)
TheBoardofDirectors	hasconstitutedaRisk	Management	Committee(RMC)	toframe,	implementand	monitorthe	riskmanagement	planofthe	Groupwhich
inter-aliacoversrisks	arisingoutofexposureto	foreigncurrency	fluctuations.	Underthe	guidance	andframework	providedby	theRMC,the	Groupuses
variousderivativeinstrumentspurposeofthe	suchasforeignexchangecapitalmanagement,capitalshareholders. The primary objective is to maximise the shareholders value.	forward,includes	currencyoptionsissuedequity	andcapital,securities	futurescontractspremium	inwhichtheandallother	counterpartyequityreserves	isgenerallyaattributable	bank.Forthetotheequity
TheGrouphasentered	intoderivativeinstrumentsoutstanding contracts and loss/(gain) on fair valuation of such contracts are given below:	notin	hedgingrelationship	byway	offoreign	exchange	forwardcontracts.	Thenotional	amountof
								30 Jun 21	31 Mar 21
Foreign exchange forward contracts- Buy								1,828.45	3,150.01
Foreign exchange forward contracts- Sale								(6.91)1,821.54	(457.25)2,692.76

			1 to 6
Hedging instrument	Buy Derivative Position	-22.97	months-	1:1	Currentfinancial
					liabilities
					Current
	Sell Derivative Position	-(679.51)		1:1	financialliabilities

	The following table presents details of amounts held in effective portion of Cash Flow Hedge and the period during which these are going to be releasedand affecting Statement of profit and Loss - gain/ (loss)
				As at 31 Mar 21
				Cash Flow hedge release to P&L

Commodity Price risk
Buy Future Contracts- Copper
Buy Future Contracts- Aluminium
Sell Future Contracts- Copper
Sell Future Contracts- Aluminium
TheGrouphasentered	shareholders. The primary objective is to maximise the shareholders value.intoderivativeinstrumentsoutstanding contracts and loss/(gain) on fair valuation of such contracts are given below:	notinhedgingrelationship	bywayofforeign	exchange	forwardcontracts.	Thenotional	amountof
						30 Jun 21	31 Mar 21
Foreign exchange forward contracts- Buy						1,828.45	3,150.01
Foreign exchange forward contracts- Sale						(6.91)	(457.25)
						1,821.54	2,692.76
	Fair valuation gain on foreign exchange forward contracts					(3.59)	(31.37)
Events after the reporting periodGroup requiring adjustment or disclosure.	During the quarter ended 30 June 20, the Parent Company had received a favourable order from Honourable Income-Tax Appellate Tribunal for AY 2012-13 toNo significant adjusting event occurred between the balance sheet date and date of the approval of these financial statements by the Board of Directors of the

30 Jun 21	31 Mar 21

23. Events after the reporting period

24. Others

As per our report of even date For B S R & Co. LLP Chartered Accountants

Bhavesh Dhupelia Partner Membership No. 042070

Place: Mumbai Date: 21 July 2021

ICAI Firm Registration No. 101248W/W-100022

Unaudited Interim Condensed Standalone Financial Statements

30 June 2021

a

Polycab India Limited

Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

		Index	Page No.
		Auditors' Review Report	1
		Balance Sheet	2
		Statement of Profit and Loss	3
		Statement of Changes in Equity	4
		Statement of Cash Flows	4

		Overview and notes to the financial statements
A		Overview
	1	Corporate Information	5
	2A	Basis of preparation	5
	2B	Use of estimates and judgements	5
	2C	Accounting policies	5
	2D	Estimation of uncertainties relating to global health pandemic from COVID-19	5
	2E	Recent pronouncement	5

B		Notes to financial statements
	3	Property, plant and equipment	6
	4	Right of use assets	7
	5	Intangible assets	7
	6	Investment	8
	7	Cash and cash equivalents	8
	8	Inventories	8
	9	Borrowings	9
	10	Trade payables	9
	11	Revenue from operations	11
	12	Other income	11
	13	Finance costs	12
	14	Other expenses	12
	15	Earnings per share	12
	16	Contingent liabilities and commitments	13
	17	Related party disclosure	13
	18	Segment Reporting	16
	19	Financial Instruments and Fair Value Measurement	18
	20	Financial Risk Management Objectives And Policies	19
	21	Hedging activity and derivatives	22
	22	Income Tax order effect	23
	23	Events after the reporting period	23
	24	Others	23

Unaudited Interim Condensed Standalone Balance Sheet as at 30 June 2021 Polycab India Limited

ASSETS
Non-current assets
Property, plant and equipment	3	15,377.11	15,448.17
Capital work-in-progress	3	1,240.42	984.65
Right of use assets	4	351.46	338.81
Intangible assets	5	16.18	19.58
Financial assets
(a)Investment in Subsidiaries	6A	798.08	633.28
(b)Investment in Joint Venture	6A	105.20	105.20
(c)Trade receivables		1,300.05	1,283.60
(d)Other financial assets
		593.37	591.35
Non-current tax assets (net)		425.98	269.66
Other non-current assets		461.72	417.59
		20,669.57	20,091.89
Current assets
Inventories	8	24,955.84	19,511.78
Financial assets
(a)Investments	6B	5,888.40	6,231.27
(b)Trade receivables		9,013.66	14,312.16
(c)Cash and cash equivalents	7	499.92	1,974.12
(d)Bank balance other than cash and cash equivalents		3,202.87	2,904.75
(e)Loans		479.83	447.73
(f)Other financial assets		358.21	261.10
Other current assets		2,672.73	1,534.13
Total assets		47,071.4667,741.03	47,177.0467,268.93
EQUITY AND LIABILITIES
Equity
(a)Equity share capital		1,491.60	1,491.19
(b)Other equity		46,346.69	45,581.11
		47,838.29	47,072.30
Liabilities
Non-current liabilities:
Financial liabilities

(a)Borrowings	9A	-	-
(b)Lease liabilities		235.80	224.05
Other non-current liabilities		211.99	206.37
Provisions		278.09	247.80
Deferred tax liabilities (net)		321.32	337.64
		1,047.20	1,015.86
Current liabilities:
Financial liabilities
(a)Borrowings	9B	652.88	918.73
(b)Lease liabilities		109.71	111.17
(c)Trade payables	10
Total outstanding dues of micro enterprises and small enterprises		441.91	340.30
Total outstanding dues of creditors other than micro enterprises and small enterprises		13,790.16	12,721.13
(d)Other financial liabilities		617.29	1,348.50
Other current liabilities		2,960.70	3,238.37
Provisions		252.75	235.12
Current tax liabilities (net)		30.14	267.45
		18,855.54	19,180.77
Total equity and liabilities		67,741.03	67,268.93
Corporate information and summary of significant accounting policies	1 & 2	0.00	-

Contingent liabilities and commitments	16
Other notes to accounts	17 to 24

The accompanying notes are an integral part of the unaudited interim condensed standalone financial statements.

As per our report of even date For B S R & Co. LLP Chartered Accountants ICAI Firm Registration No. 101248W/W-100022

Bhavesh Dhupelia Partner Membership No. 042070

Place: Mumbai Date: 21 July 2021

Page 2 of 23

Unaudited Interim Condensed Standalone Statement of Profit & Loss for the period ended 30 June 2021

Polycab India LimitedUnaudited Interim Condensed Standalone Statement of Profit & Loss for the period ended 30 June 2021INCOMERevenue from operations1118,396.50Other income12262.84Total income18,659.34EXPENSESCost of materials consumed16,847.55Purchases of stock-in-trade1,204.76(4,165.07)Changes in inventories of finished goods, stock-in-trade and work-in-progressProject bought outs and subcontracting cost244.54Employee benefits expense922.13Finance costs1393.80Depreciation and amortisation expense486.66Other expenses142,055.62Total expenses17,689.99Profit before tax969.35Income tax expensesCurrent tax256.68Adjustment of tax relating to earlier periods (refer note 22)(30.55)Deferred tax (credit)/charge(7.37)Total tax expenses218.76Profit for the period750.59Other comprehensive incomeItems that will not be reclassified to profit or lossRe-measurement gains / (losses) on defined benefit plans(48.32)Income Tax relating to items that will not be reclassified to Profit or Loss12.16Items that will be reclassified to profit or lossDesignated cash flow hedges12.77Income tax relating to items that will be reclassified to Profit or Loss(3.21)Other comprehensive income for the period, net of tax(26.60)723.99Total comprehensive income for the period, net of taxEarnings per share (not annualised)155.035.01Weighted average equity shares used in computing earnings per equity share15Basic149,137,399Diluted149,807,682Corporate information and summary of significant accounting policies1 & 2Contingent liabilities and commitments16Other notes to accounts17 to 24The accompanying notes are an integral part of the unaudited interim condensed standalone financial statements.As per our report of even dateFor B S R & Co. LLPChartered Accountants
9,922.24342.9710,265.215,129.06416.401,463.05280.80794.54133.07419.301,279.579,915.79349.4290.631,122.761.72302.23221.061,343.827.547.52148,915,184149,394,033



(861.07)(2.90)(773.34)(6.83)(76.06)






































	ICAI Firm Registration No. 101248W/W-100022

Bhavesh Dhupelia Partner Membership No. 042070

Place: Mumbai Date: 21 July 2021

HARAT	Distrator panel by SAANT ALATMATHEMATICS
JAY	DN c+N o+Penpral port (Code+400ATTICATAMENTStest Amber-Rb3c31sthd4b765ebel65644229deb3ecc6131437d08eb1511c
AISINGHANI	1975 C HENRY AWY PEWOUNDate: 1711.07.2112-06:30 - 65937

Polycab India Limited
Unaudited Interim Condensed Standalone Statement of Changes in Equity for the period ended 30 June 2021

A) Equity Share Capital
Balance at the beginning of the period	1491.191488.79
Issue of equity shares on exercise of employee stock options	0.412.40
Balance at the end of the period	1,491.601,491.19
B) Other Equity

Unaudited Interim Condensed Standalone Statement of Changes in Equity for the period ended 30 June 2021A) Equity Share Capital

Balance at the beginning of the period				1491.19	1488.79
Issue of equity shares on exercise of employee stock options				0.41	2.40
Balance at the end of the period				1,491.60	1,491.19
B) Other Equity


As at 1 Apr 2020	27.15	0.13	7,149.55	650.69	241.45	28,971.62		(126.49) 36,914.10
Profit after tax for the Three monthsItems of OCI for the period, net of tax	-	-	-	-	-	1,122.76	-	1,122.76-
Re-measurement gains / (losses) on defined benefit plans	-	-	-	-	-	(5.11)	-	(5.11)
Designated cash flow hedgesShare-based payments to employees	--	--	--	--	-33.03	--	226.17-	226.1733.03
Exercise of employee stock option	11.22	-	-	-	(11.22)	-	-	-
Amount received on exercise of employee stock optionsIssue of equity share on exercise of employee stock options	15.17(37.67)	--	-37.13	--	--	--	--	15.17(0.54)
As at as at 30 Jun 2020	15.87	0.13	7,186.68	650.69	263.26	30,089.27	99.68	38,305.58
Profit after tax for the Nine monthsItems of OCI for the Nine months, net of tax	-	-	-	-	-	7,190.54	-	7,190.54
Re-measurement gains / (losses) on defined benefit plans	-	-	-	-	-	40.50	-	40.50
Designated cash flow hedgesShare-based payments to employees	--	--	--	--	-75.68	--	(99.68)-	(99.68)75.68
ESOP charge recovered from group companies	-	-	-	-	1.48	-	-	1.48
Exercise of employee stock optionAmount received on exercise of employee stock options	53.5068.87	--	--	--	(53.50)-	--	--	-68.87
	(133.28)	-	131.42	-	-	-37,320.31	-	(1.86)
Issue of equity share on exercise of employee stock options							-	45,581.11
As at 31 Mar 2021	4.96-	0.13-	7,318.10-	650.69-	286.92-	750.59	-	750.59
Profit after tax for the periodItems of OCI for the period, net of tax
Re-measurement gains / (losses) on defined benefit plansDesignated cash flow hedges	--	--	--	--	--	(36.16)-	-9.56	(36.16)9.56
Share-based payments to employees	-	-	-	-	23.52	-	-	23.52
ESOP charge recovered from group companies	-	-	-	-	2.49	-	-	2.49
Exercise of employee stock optionAmount received on exercise of employee stock optionsIssue of equity share on exercise of employee stock options	12.5915.97(29.42)	---	--29.03	---	(12.59)--	---	---	-15.97(0.39)

Designated cash flow hedges	-	-	-	-	-	-	(99.68)	(99.68)
Share-based payments to employees	-	-	-	-	75.68	-	-	75.68
ESOP charge recovered from group companies	-	-	-	-	1.48	-	-	1.48
Exercise of employee stock option	53.50	-	-	-	(53.50)	-	-	-
Amount received on exercise of employee stock options	68.87	-	-	-	-	-	-	68.87
Issue of equity share on exercise of employee stock options	(133.28)	-	131.42	-	-	-	-	(1.86)
As at 31 Mar 2021	4.96	0.13	7,318.10	650.69	286.92	37,320.31	-	45,581.11
Profit after tax for the period	-	-	-	-	-	750.59	-	750.59
Items of OCI for the period, net of tax
Re-measurement gains / (losses) on defined benefit plans	-	-	-	-	-	(36.16)	-	(36.16)
Designated cash flow hedges	-	-	-	-	-	-	9.56	9.56
Share-based payments to employees	-	-	-	-	23.52	-	-	23.52
ESOP charge recovered from group companies	-	-	-	-	2.49	-	-	2.49
Exercise of employee stock option	12.59	-	-	-	(12.59)	-	-	-
Amount received on exercise of employee stock options	15.97	-	-	-	-	-	-	15.97
Issue of equity share on exercise of employee stock options	(29.42)	-	29.03	-	-	-	-	(0.39)
As at 30 Jun 2021	4.10	0.13	7,347.13	650.69	300.34	38,034.74	9.56	46,346.69






Profit before tax							969.35	349.42
Adjustments to reconcile profit before tax to net cash flows							677.91	259.20
Movements in working capital							(1,543.81)	2854.58
Income tax paid (including TDS) (net of refunds)							(619.76)	(341.14)
Net cash flows generated form / (used in) operating activities						(A)	(516.31)	3122.06
Net cash flows generated form / (used in) investing activities						(B)		(822.72) (3,454.59)
Net cash flows generated form / (used in) financing activities						(C)	(135.17)	723.02
Net increase / (decrease) in cash and cash equivalents						(A+B+C)	(1,474.20)	390.49
Cash and cash equivalents at the beginning of the period							1,974.12	1700.43
Cash and cash equivalents at the period end - (Refer Note 7)							499.92	2090.92
Corporate Information and summary of significant accounting policies			1 & 2
Contingent liabilities and commitments			16
Other notes to accounts			17 to 24
The accompanying notes are an integral part of the unaudited interim condensed standalone financial statements.

As per our report of even date

For B S R & Co. LLP
Chartered Accountants
ICAI Firm Registration No. 101248W/W-100022

As per our report of even dateFor B S R & Co. LLPChartered Accountants
ICAI Firm Registration No. 101248W/W-100022
Bhavesh Dhupelia
PartnerMembership No. 042070
Place: MumbaiDate: 21 July 2021

Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

1. Corporate information

Polycab India Limited (the (CIN - L31300GJ1996PLC114183) was incorporated as Wires Private on 10 January 1996 at Mumbai as a private limited company under the Companies Act, 1956. The Company became a deemed public limited company under Section 43A(1) of the Companies Act, 1956, and the word was struck off from the name of the Company with effect from 30 June 2000. Thereafter, the Company was converted into a private limited company under section 43A(2A) of the Companies Act, 1956, and the word was added in the name of the Company with effect from 15 June 2001. Subsequently, the Company was converted into a public limited company, the word was struck off from the name of the Company and consequently, a fresh certificate of incorporation dated 29 August 2018 was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana recording the change of the name to Wires Thereafter, the name of the Company was changed from Wires to India and a fresh certificate of incorporation dated 13 October 2018 was issued by the ROC. The Company is the largest manufacturer of Wires and Cables in India and fast growing player in the Fast Moving Electrical Goods (FMEG) space. The Company is also in the business of Engineering, Procurement and Construction (EPC) projects. The Company owns 23 manufacturing facilities, These unaudited interim condensed standalone financial statements for the three months ended 30 June 2021 financial have been prepared in accordance with the accounting principles generally accepted in India, including the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) 34, Interim Financial Reporting as specified under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder. Accordingly, the said interim financial statements do not include all the information required for a complete set of annual Ind AS financial statements and should be read in conjunction with the latest annual financial statements and related notes included in the Annual Report for the year ended 31 March 2021. However, selected explanatory notes are included to explain events and transactions that are significant for the understanding of the changes in the financial position and performance since the latest annual

The registered office of the Company is Unit 4, Plot Number 105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat 389350.

located across the states of Gujarat, Maharashtra, Uttarakhand, and U.T. Daman.

2. Summary of significant accounting policies

Basis of preparation

financial statements. The preparation of the condensed financial statements requires the use of certain critical accounting estimates and judgements. It also requires the Management to exercise judgement in the process of applying the accounting policies. The areas where estimates are significant to the condensed financial statements, or areas involving a higher degree of judgement or complexity, are the same as those disclosed in the On 18 June 2021, MCA through a notification has notified Companies (Indian Accounting Standards) Amendment Rules, 2021. The notification has The accounting policies adopted in the preparation of the interim financial statements are consistent with those followed in the preparation of the The amendments to Schedule III of the Companies Act, 2013 are applicable from 01 April 2021. The Company has given effect of amendment by During the quarter ended 30 June 2021, India experienced a second wave of COVID-19 resulting into subdued economic activities. However, Business operations of the Company in the current period have improved in comparison to the last year. While there is no material impact on the carrying amounts of current assets of the Company, considering the uncertainties associated with COVID-19, the Company will continue to closely monitor any

The Board of Directors approved the Standalone Financial Statements for the quarter ended 30 June 2021 and authorised for issue on 21 July 2021.

B) Use of estimates and judgements

annual financial statements for the year ended 31 March 2021.

C) Accounting policies

D) Estimation of uncertainties relating to global health pandemic from COVID-19

material changes to future economic conditions.

E) Recent pronouncement

inclusion of the relevant disclosures under explanatory notes or by way of additional notes, wherever significant in nature.

made amendments to various Ind AS. The Company does not expect the amendments to have any significant impact in its financial statements.

3. Property, plant and equipment

Polycab India Limited
Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021


3. Property, plant and equipment
The changes in the carrying value of property, plant and equipment for the period ended 30 June 2021 are as follows:
	Freehold		Plant and	Electrical	Furniture	Office			Leasehold		Capital
	land	Buildings	equipments	installatio	and	equipmen	Windmill	Vehicles	improve	Total	Work in
				ns	fixtures	ts			ments		progress
Gross carrying value (at cost)
As at 01 Apr 2021	1,028.21	8,418.70	12,130.79	796.17	184.46	328.11	294.99	80.41	3.42	23,265.26	984.65
Additions	2.93	-	289.48	43.74	0.84	34.60	-	2.80	-	374.39	565.47
Transfer	-	-	-	-	-	-	-	-	-	-	(309.70)
Disposals/Adjustments	-	-	-	-	-	(1.48)	-	-	-	(1.48)	-
As at 30 Jun 2021	1,031.14	8,418.70	12,420.27	839.91	185.30	361.23	294.99	83.21	3.42	23,638.17	1,240.42
Accumulated depreciation
As at 01 Apr 2021	-	1,307.29	5,795.12	326.86	69.77	190.75	94.33	30.43	2.54	7,817.09	-
Depreciation charge for the period	-	81.45	324.38	16.58	4.35	11.93	3.92	2.64	0.12	445.37	-
Disposals/Adjustment	-	-	-	-	-	(1.40)	-	-	-	(1.40)	-
As at 30 Jun 2021	-	1,388.74	6,119.50	343.44	74.12	201.28	98.25	33.07	2.66	8,261.06	-
Net carrying value
As at 30 Jun 2021	1,031.14	7,029.96	6,300.77	496.47	111.18	159.95	196.74	50.14	0.76	15,377.11	1,240.42
The changes in the carrying value of property, plant and equipment for the period ended 31 March 2021 are as follows:
	Freeholdland	Buildings	Plant andequipments	Electricalinstallations	Furnitureandfixtures	Officeequipments	Windmill	Vehicles	Leaseholdimprove	Total	CapitalWork inprogress
									ments
Gross carrying value (at cost)
As at 01 Apr 2020	1,018.20	7,094.48	10,320.78	596.51	157.05	293.38	294.99	113.56	4.51	19,893.46	2,409.71
Additions	11.95	1,325.58	1,842.08	199.66	32.23	52.71	-	2.45	-	3,466.66	1,779.92
Transfer	-	-	-	-	-	-	-	-	-	-	(3,204.98)
Disposals/Adjustments	(1.94)	(1.36)	(32.07)	-	(4.82)	(17.98)	-	(35.60)	(1.09)	(94.86)	-
As at 31 Mar 2021	1,028.21	8,418.70	12,130.79	796.17	184.46	328.11	294.99	80.41	3.42	23,265.26	984.65
Accumulated depreciation
As at 01 Apr 2020	-	1,015.21	4,664.43	270.41	57.26	159.43	78.61	46.12	2.98	6,294.45	-
	-	292.23	1,158.01	56.45-	15.83	47.77	15.72	12.90	0.56	1,599.47	-
Depreciation charge for the period					(3.32)	(16.45)	-	(28.59)	(1.00)	(76.83)	-
Disposals/Adjustment	-	(0.15)	(27.32)
As at 31 Mar 2021Net carrying value	-	1,307.29	5,795.12	326.86	69.77	190.75	94.33	30.43	2.54	7,817.09	-

			equipments		fixtures	ts			improvements		progress
Gross carrying value (at cost)














	Freehold		Plant and	Electrical	Furniture	Office			Leasehold		Capital
	land	Buildings	equipments	installatio	and	equipmen			improve	Total	Work in
				ns	fixtures	ts			ments		progress
Gross carrying value (at cost)
As at 01 Apr 2020	1,018.20	7,094.48	10,320.78	596.51	157.05	293.38	294.99	113.56	4.51	19,893.46	2,409.71
Additions	11.95	1,325.58	1,842.08	199.66	32.23	52.71	-	2.45	-	3,466.66	1,779.92
Transfer	-	-	-	-	-	-	-	-	-	-	(3,204.98)
Disposals/Adjustments	(1.94)	(1.36)	(32.07)	-	(4.82)	(17.98)	-	(35.60)	(1.09)	(94.86)	-
As at 31 Mar 2021	1,028.21	8,418.70	12,130.79	796.17	184.46	328.11	294.99	80.41	3.42	23,265.26	984.65
Accumulated depreciation
As at 01 Apr 2020	-	1,015.21	4,664.43	270.41	57.26	159.43	78.61	46.12	2.98	6,294.45	-
Depreciation charge for the period	-	292.23	1,158.01	56.45	15.83	47.77	15.72	12.90	0.56	1,599.47	-
Disposals/Adjustment	-	(0.15)	(27.32)	-	(3.32)	(16.45)	-	(28.59)	(1.00)	(76.83)	-
As at 31 Mar 2021	-	1,307.29	5,795.12	326.86	69.77	190.75	94.33	30.43	2.54	7,817.09	-
Net carrying value
As at 31 Mar 2021	1,028.21	7,111.41	6,335.67	469.31	114.69	137.36	200.66	49.98	0.88	15,448.17	984.65

Notes:-
(a)
(b) All property, plant and equipment are held in the name of the Company, except which are shown below :
			Whether title deed holder is a
Description of item of property		Gross carrying value	promoter, director or relative of				Property held			Reason for not being held in the name
			promoter / director or employee				since which date			of the company
				of promoter/director
Freehold land- Delhi		21.73		No			2009	Mutation is in process
Freehold land- Halol		0.11		No			2008	Mutation is in process
Freehold land- Halol		10.48		No			2009			Title deed is in dispute and is pendingresolution with government authority at
Freehold land- Kolkata		1.14
				No			2008	Mutation is in process
Freehold land- Daman		1.82		No			2008	Mutation is in process
(c) CWIP aging schedule
			Less than 1 year		1-2 years		2-3 years	years	More than 3	Total
Projects in progress
Cable & Wire Projects
FMEG Projects			50.25		299.848		-		-		350.10
Backward Integration Projects			110.40		114.377		-		-		224.77

Other Projects

(a)
	(b) All property, plant and equipment are held in the name of the Company, except which are shown below :
				Whether title deed holder is a
				promoter, director or relative of			Property held				Reason for not being held in the name
	Description of item of property	Gross carrying value		promoter / director or employee			since which date				of the company
					of promoter/director
	Freehold land- Delhi		21.73		No
	Freehold land- Halol		0.11		No
											Title deed is in dispute and is pending
	Freehold land- Halol		10.48		No		2009				resolution with government authority at
	Freehold land- Kolkata		1.14		No		2008		Mutation is in process
	Freehold land- Daman		1.82		No		2008		Mutation is in process
	(c) CWIP aging schedule
									More than 3
				Less than 1 year		1-2 years	2-3 years		years		Total
	Projects in progress
	Cable & Wire Projects			89.01		218.988		79.94		13.64		401.57
	FMEG Projects			50.25		299.848		-		-		350.10
	Backward Integration Projects			110.40		114.377		-		-		224.77
	Other Projects			50.64		133.158		78.66		1.524		263.98

				300.30		766.37		158.59		15.16		1,240.42
(d)	Assets pledged and Hypothecated against borrowings:
	There is a first pari passu charge by way of registered mortgage on specific immovable fixed assets at Halol and hypothecation of all movable fixed
	assets acquired on or after 1 April 2015.
(e)	For capital expenditures contracted but not incurred - Refer note 16(B).
(f)

	Less than 1 year			More than 3years	Total
Projects in progress
Cable & Wire Projects
FMEG Projects
Backward Integration Projects
Other Projects
	300.30	766.37	158.59	15.16	1,240.42

CWIP completion schedule, whose completion is overdue or has exceeded its cost compared to its original plan: None (31 March 2021 : None)

Polycab India Limited
Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

4.Right of use assets
The changes in the carrying value of right of use assets for the period ended 30 June 2021 are as follows:


Gross carrying value
As at 01 Apr 2021	41.78	466.90	508.68
Additions	-	56.16	56.16
Disposals	(0.03)	(31.63)	(31.66)
As at 30 Jun 2021	41.75	491.43	533.18
Accumulated depreciation
As at 01 Apr 2021	0.91	168.96	169.87
Depreciation charge for the period	0.11	37.78	37.89
Disposals	-	(26.04)	(26.04)
As at 30 Jun 2021	1.02	180.70	181.72
Net carrying valueAs at 30 Jun 2021	40.73	310.73	351.46

The changes in the carrying value of right of use assets for the period ended 31 March 2021 are as follows:

Gross carrying value
As at 01 Apr 2020	41.78	399.75	441.53
Additions	-	149.11	149.11
Disposals	-	(81.96)	(81.96)
As at 31 Mar 2021	41.78	466.90	508.68
Accumulated depreciation
As at 01 Apr 2020	0.45	106.09	106.54
Depreciation charge for the period	0.46	127.87	128.33
Disposals	-	(65.00)	(65.00)
As at 31 Mar 2021	0.91	168.96	169.87
Net carrying value
As at 31 Mar 2021	40.87	297.94	338.81
5.Intangible assets
The changes in the carrying value of intangible assets for the period ended 30 June 2021 are as follows:



Gross carrying value (at cost)

The changes in the carrying value of right of use assets for the period ended 31 March 2021 are as follows:


Gross carrying value
As at 01 Apr 2020	41.78	399.75	441.53
Additions	-	149.11	149.11
Disposals	-	(81.96)	(81.96)


As at 01 Apr 2020	0.45	106.09	106.54
Depreciation charge for the period	0.46	127.87	128.33
Disposals	-	(65.00)	(65.00)



Intangible assets

The changes in the carrying value of intangible assets for the period ended 30 June 2021 are as follows:


Gross carrying value (at cost)
As at 01 Apr 2021			111.98
Additions			-
Disposals/Adjustments			-
As at 30 Jun 2021			111.98
Accumulated amortization
As at 01 Apr 2021			92.40
Amortisation charge for the period			3.40
Disposals/ Adjustments			-
As at 30 Jun 2021			95.80
Net carrying value
As at 30 Jun 2021			16.18

5. Intangible assets

Gross carrying value
As at 01 Apr 2020	41.78	399.75	441.53
Additions	-	149.11	149.11
Disposals	-	(81.96)	(81.96)


As at 01 Apr 2020	0.45	106.09	106.54
Depreciation charge for the period	0.46	127.87	128.33

Disposals	-	(65.00)	(65.00)



Intangible assets
The changes in the carrying value of intangible assets for the period ended 30 June 2021 are as follows:



Gross carrying value (at cost)
As at 01 Apr 2021			111.98
Additions			-
Disposals/Adjustments			-
As at 30 Jun 2021			111.98
Accumulated amortization
As at 01 Apr 2021			92.40
Amortisation charge for the period			3.40
Disposals/ Adjustments			-
As at 30 Jun 2021			95.80
Net carrying value
As at 30 Jun 2021			16.18

The changes in the carrying value of intangible assets for the period ended 31 March 2021 are as follows:


Gross carrying value (at cost)
As at 01 April 2020			105.14
Additions			18.44
Disposals			(11.60)
As at 31 Mar 2021			111.98
Accumulated amortization
As at 01 April 2020			88.38
Amortisation charge for the period
			12.29
Disposals/ Adjustments			(8.27)
As at 31 Mar 2021			92.40
Net carrying value
As at 31 Mar 2021			19.58

6. Investment

Polycab India LimitedNotes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 20216.Investment












ANon-current investments

Investments carried at cost (Unquoted)
Investment in Equity Instruments of Subsidiaries (Fully paid-up)
Ryker Base Private Limited (refer below note (a))52,020,000541.7252,020,000Tirupati Reels Private Limited3,300,00033.003,300,000	541.7233.00
Dowells Cable Accessories Private Limited4,590,00045.904,590,000	45.90
Uniglobus Electricals and Electronics Private Limited10,0000.10-	-
Silvan Innovations Labs Private Limited (Equity share)-101,9568.95(refer below note (b))	-
Silvan Innovations Labs Private Limited (0.1%-291,17739.03Compulsorily convertible preference shares	-
Silvan Innovations Labs Private Limited (0.1%-1,4512.07Compulsorily convertible preference shares (Class A1)	-
Silvan Innovations Labs Private Limited (0.1%-4,3536.22Compulsorily convertible preference shares (Class A2)-Silvan Innovations Labs Private Limited (0.1%	--
13,23617.02Compulsorily convertible preference shares (Class A3)Silvan Innovations Labs Private Limited (0.1%-	-
10,86428.25Compulsorily convertible preference shares(Class B)Silvan Innovations Labs Private Limited (0.01%-	-
631,60063.16Compulsorily Convertible Debentures) [in nature of equity]
Polycab Australia Pty Ltd205,00011.66205,000AU$ 1	11.66
Polycab Electricals And Electronics Private Limited100,0001.00100,000798.08	1.00633.28
Investment in Equity Instruments of Joint Venture (Fully paid-up)
Techno Electromech Private Limited4,040,000105.204,040,000105.20	105.20105.20
Total Non-current investments903.28	738.48
Aggregate amount of unquoted investments - At cost903.28	738.48

541.72	541.72

B Current Investments held for sale

Silvan Innovations Labs Private Limited (0.01%Compulsorily Convertible Debentures) [in nature of equity]		631,600	63.16	-	-
Polycab Australia Pty Ltd	AU$ 1	205,000	11.66	205,000	11.66
Polycab Electricals And Electronics Private Limited		100,000	1.00	100,000	1.00
			798.08		633.28
Investment in Equity Instruments of Joint Venture (Fully paid-up)
Techno Electromech Private Limited		4,040,000	105.20	4,040,000	105.20
			105.20		105.20


Notes:
(a)
base Private Limited is given as under:






				541.72	541.72
(b)The acquisition will augment our IOT based automation offerings and expand the potential addressable market in FMEG space.
BCurrent Investments held for sale

Investments measured at FVTPL (Quoted)
Investments in Liquid/ Overnight Mutual Funds				5,888.40	6,231.27
				5,888.40	6,231.27
Aggregate amount of quoted investments - At cost				5,877.86	6,222.79
Aggregate amount of quoted investments - At market value				5,888.40	6,231.27
Cash and cash equivalents7.

Cash and cash equivalents (at amortised cost)
Balances with banks
In current accounts				379.56	725.03
Deposits with original maturity of less than 3 months				119.40	1,248.20
Cash in hand				0.96	0.89
				499.92	1,974.12
There is no repatriation restriction with regard to cash and cash equivalents at the end of reporting period and prior periods.
Inventories8.
				30 Jun 21	31 Mar 21

Raw materials				9,248.32	7,967.09
Work-in-progress				1,998.17	1,405.07
Finished goods				10,957.11	8,005.96
Stock-in-trade				1,671.48	1,158.24
Stores and spares				245.48	237.46
Packing materials				323.81	289.30
				334.22	226.64
Scrap materials
Project materials for long-term contracts				177.2524,955.84	222.0219,511.78

Raw materials
Work-in-progress
Finished goods

	30 Jun 21	31 Mar 21

Work-in-progress	1,998.17	1,405.07
Finished goods	10,957.11	8,005.96

Stores and spares	245.48	237.46
Packing materials	323.81	289.30
Scrap materials	334.22	226.64
Project materials for long-term contracts	177.25	222.02
	24,955.84	19,511.78
Notes:-

(a)

(b) Inventories are hypothecated with the bankers against working capital limits (refer note 9).

9. Borrowings

	Polycab India Limited
	Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

9.	Borrowings
A	Borrowings- non-current
				30 Jun 21	31 Mar 21
		Rate of Interest	Tenureend date	Gross/Carrying	Gross/Carrying
				Value	Value
	At amortised cost
	Rupee loan (secured)
	Indian rupee loan from Citibank N.A.	8.80%	23 August 2021	14.96	29.93
	Less: Current maturities of long-term borrowings			14.96(14.96)	29.93(29.93)
				-	-
	Notes:
	(a)The above loans are secured by way of(i)First pari passu charge by way of registered mortgage on specific immovable fixed assets at Halol and hypothecation of all movable fixed assets acquired on or
	after 1 April 2015.(ii)Secondparipassuchargebywayofhypothecationofallmovablefixedassetsappearing	inbalancesheet	ason31March	2015andonall	currentassetsof
	the Company.
	(iii)Charges with respect to above borrowing has been created in favour of security trustee. No separate charge created for each of the borrowing.

	(iv)All charges are registered with ROC within statutory period by the Company.

	(v)Term loans were applied for the purpose for which the loans were obtained.
	Movement in borrowing schedule for the period ended 30 June 2021(b)
			ECB	Rupee loan	Total
	As at 01 Apr 2021Less: Repayments		--	29.93(14.97)	29.93(14.97)
	As at 30 Jun 2021		-	14.96	14.96
	Movement in borrowing schedule for the period ended 31 March 2021
			ECB	Rupee loan	Total
	As at 01 Apr 2020		251.29	89.78	341.07
	Less: Repayments		(252.74)	(59.85)	(312.59)
	Less: Foreign exchange loss		1.45	-	1.45
	As at 31 Mar 2021		-	29.93	29.93
B	Borrowings- current
	At amortised cost

(a) The above loans are secured by way of

(b) Movement in borrowing schedule for the period ended 30 June 2021

	ECB	Rupee loan	Total

	end date	CarryingValue	CarryingValue
At amortised cost
Rupee loan (secured)

		14.96	29.93
Less: Current maturities of long-term borrowings		(14.96)-	(29.93)-
Notes:
(a)The above loans are secured by way of(i)First pari passu charge by way of registered mortgage on specific immovable fixed assets at Halol and hypothecation of all movable fixed assets acquired on orafter 1 April 2015.
(ii)the Company.(iii)Charges with respect to above borrowing has been created in favour of security trustee. No separate charge created for each of the borrowing.
(iv)All charges are registered with ROC within statutory period by the Company.
(v)Term loans were applied for the purpose for which the loans were obtained.
Movement in borrowing schedule for the period ended 30 June 2021(b)
	ECB	Rupee loan	Total


As at 30 Jun 2021	-	14.96	14.96
Movement in borrowing schedule for the period ended 31 March 2021
	ECB	Rupee loan	Total
As at 01 Apr 2020	251.29	89.78	341.07
Less: Repayments	(252.74)	(59.85)	(312.59)
Less: Foreign exchange lossAs at 31 Mar 2021	1.45-	-29.93	1.4529.93

Borrowings- current
At amortised cost
Short-term loan from banks (Unsecured)
		637.92	883.56
		-	5.2429.93
Short-term loan from banks (Secured)
Current maturities of long-term borrowings		14.96652.88	918.73

(a) The above loans are secured by way of

(i) Secured borrowings from banks are secured against pari passu first charge by way of hypothecation of inventories and receivables .
(ii) building at Halol and Daman and office building at Mumbai.
(iii) Pari passu first charge by way of hypothecation of all movable fixed assets appearing in balance sheet as on 31 March 2015.
(iv) Pari passu second charge by way of registered mortgage on all movable assets acquired on or after 1 April 2015.
(v) Charges with respect to above borrowing has been created in favour of security trustee. No separate charge has been created for each of the borrowing.
(vi) All charges are registered with ROC within statutory period by the Company.

10. Trade payables

At amortised cost



	652.88	918.73
Note:
(a)The above loans are secured by way of
(i)Secured borrowings from banks are secured against pari passu first charge by way of hypothecation of inventories and receivables .
(ii)building at Halol and Daman and office building at Mumbai.
(iii)Pari passu first charge by way of hypothecation of all movable fixed assets appearing in balance sheet as on 31 March 2015.
(iv)Pari passu second charge by way of registered mortgage on all movable assets acquired on or after 1 April 2015.


(v)Charges with respect to above borrowing has been created in favour of security trustee. No separate charge has been created for each of the borrowing.
(vi)All charges are registered with ROC within statutory period by the Company.
(vii)Funds raised on short term basis have not been utilised for long term purposes and spent for the purpose it were obtained.

Trade payables

At Amortised Cost
Total outstanding dues of micro and small enterprises
Trade payables to related parties (refer Note - 17)	56.44	117.03
10.Trade payables - Others	385.47	223.27
	441.91	340.30
Total outstanding dues of creditors other than micro and small enterprises
Acceptances - (refer note below (a))	9,148.90	6,537.51
Other than acceptances
Trade payables - Others (refer note below (b))	4,360.31	5,970.85

Trade payables to related parties (refer note - 17)	280.9513,790.16	212.7712,721.13

10. Trade payables

(a) Acceptances represent amounts payable to banks on due date as per usance period of Letter of Credit (LCs) issued to raw material vendors under non-fund based working capital facility approved by Banks for the Company. The arrangements are interest-bearing. Non-fund limits are secured by first pari-passu charge over the present and future current assets of the Company.
(b)
(c) For explanations on the Company's liquidity risk management processes refer note 20(C).

Polycab India Limited
Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021
present and future current assets of the Company.Othersincludesamountpayabletovendors,	employeesliabilityand	accrualofexpensesthat	areexpectedtobe	settledinthe	normal	operatingcycleor

due to be settled within twelve months from the reporting date.(c)
For explanations on the Company's liquidity risk management processes refer note 20(C).(d)Trade Payables ageing schedule
As at 30 June 21
	Not due		Outstanding for following periods from due date of payment		More than 3	TOTAL
		Less than 1 year	1-2 years	2-3 years	years
(i) MSME	410.03	31.88	-	-	-	441.91
(ii) OthersAcceptances	9,148.90	-	-	-	-	9,148.90
Other than acceptances	664.06	3,611.86	239.21	66.07	60.06	4,641.26
	9,812.96	3,611.86	239.21	66.07	60.06	13,790.16
As at 31 March 21
			Outstanding for following periods from due date of payment
	Not Due	Less than 1 year	1-2 years	2-3 years	More than 3	TOTAL
(i) MSME	308.07	32.23	-	-	years-	340.30
(ii) Others
AcceptancesOther than acceptances	6,537.511,482.33	-4,210.91	-117.65	-236.62	-136.10	6,537.516,183.62

			Outstanding for following periods from due date of payment
	Not Due				years	TOTAL
(i) MSME	308.07	32.23	-	-	-	340.30
(ii) Others


	8,019.85	4,210.91	117.65	236.62	136.10	12,721.13

11. Revenue from operations Revenue from contracts with customers Revenue on Sale of Products Finished goods 16,535.45 8,291.84 Traded goods 971.87 1,013.23 Revenue from Construction Contracts 432.94 432.78 9,738.01 17,940.10 Other operating revenue Job work income 0.89 - Scrap sales 432.87 110.75 Total revenue from contracts with customers 18,373.86 9,848.76 Export incentives 2.41 20.97 Government grant 20.23 52.51 Total Revenue from operations 18,396.50 9,922.24 Notes:

	Revenue from contracts with customers
	Revenue on Sale of Products


	Revenue from Construction Contracts	432.78	432.94
		17,940.10	9,738.01
	Other operating revenue







(a)	Disaggregated revenue information



			30 Jun 20
	Type of Goods or Services
	Wires & Cables	16,022.29	8,042.27
	Fast Moving Electrical Goods (FMEG)	1,918.79	1,373.55
	Revenue from construction contracts	432.78	432.94
	Total revenue from contracts with customers	18,373.86	9,848.76
	Location of customer
	India	17,216.26	8,835.44
	Outside India	1,157.60	1,013.32
	Total revenue from contracts with customers	18,373.86	9,848.76
	Timing of revenue recognition
	Goods transferred at a point in time	17,936.48	9,409.26
	Goods and Services transferred over a period of time	437.38	439.50

	Total revenue from contracts with customers	18,373.86	9,848.76
(b)	Reconciliation of the revenue from contracts with customers with the amounts disclosed in the segment information


		30 Jun 21	30 Jun 20
	Total revenue from contracts with customers	18,373.86	9,848.76
	Export incentives (i)	2.41	20.97
	Government grant (ii)	20.23	52.51
	Other income excluding finance income	129.75	126.45

	Total income as per Segment (Refer note 18)	18,526.25	10,048.69
	(i)Export incentive includes merchandise export from India scheme (MEIS) incentives and duty drawback incentives.
	(ii)Governmentgrantincludesadvancelicencebenefitsanddeferredincomereleased	tothestatementofprofitandlosson	fulfilmentofexport
	obligation under the export promotion capital goods (EPCG) scheme.
	Other income
12.



(a)	Interest income on financial assets
	Carried at amortised cost
	Bank deposits	47.46	17.54
	Others (i)	28.00	183.24
	Carried at FVTPL
	Others	4.56	2.19

(b)	Income from Investments designated at FVTPL

Total revenue from contracts with customers	18,373.86	9,848.76
Timing of revenue recognition
Goods transferred at a point in time	17,936.48	9,409.26






	30 Jun 21	30 Jun 20
Total revenue from contracts with customers	18,373.86	9,848.76
Export incentives (i)	2.41	20.97
Government grant (ii)	20.23	52.51


Export incentive includes merchandise export from India scheme (MEIS) incentives and duty drawback incentives.(ii)obligation under the export promotion capital goods (EPCG) scheme.





(a)Interest income on financial assets
Carried at amortised cost
Bank deposits	47.46	17.54
Others (i)	28.00	183.24
Carried at FVTPL
Others	4.56	2.19
(b)Income from Investments designated at FVTPL
Gain on liquid/overnight mutual funds	51.00	11.36
Fair valuation gain on overnight mutual funds	2.07	2.19
(c)Other non-operating income
Exchange differences (net)	119.56	105.32

Gain on sale of property, plant and equipment	0.21	-
Gain on termination of Lease	3.18	-
Sundry balances written back	1.64	5.44
Miscellaneous income	5.16	15.69
	262.84	342.97
(i)Three months period ended 30 June 2020 includes interest on Income Tax refund of Rs. 163.89 million (refer note 22).(ii)GainonfairvaluationoffinancialinstrumentsatFVTPLincludesforeignexchangefluctuationonaccounting and on embedded derivatives, which have been separated.	forwardcontractsthatdidnot	qualifyforhedge
Page 11 of 23

Polycab India Limited
	Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

13.Finance costs

		30 Jun 21	30 Jun 20
Interest expense on financial liabilities at amortised cost		25.03	82.99
Interest expense on financial liabilities at FVTPL		7.88	7.01
Exchange differences regarded as an adjustment to borrowing costs		0.07	22.19
Other borrowing costs (i)		60.82	20.88
(i)	Other borrowing costs would include bank commission charges, bank guarantee charges, letter of credit charges, premium on forward contract, fair	93.80	133.07
value loss/(gain) on forward contracts, other ancillary costs incurred in connection with borrowings

14.Other expenses


		30 Jun 21	30 Jun 20
Consumption of stores and spares		204.69	104.48
Sub-contracting expensesPower and fuel		459.80274.76	300.03122.87

	Polycab India LimitedNotes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021



				30 Jun 21	30 Jun 20



				93.80	133.07
	(i)Other borrowing costs would include bank commission charges, bank guarantee charges, letter of credit charges, premium on forward contract, fairvalue loss/(gain) on forward contracts, other ancillary costs incurred in connection with borrowings
14.	Other expenses


				30 Jun 21	30 Jun 20
	Consumption of stores and spares			204.69	104.48
	Sub-contracting expenses			459.80	300.03
	Power and fuel			274.76	122.87
	RentAdvertising and sales promotion			13.9078.35	18.8631.70
	Brokerage and commission			68.42	40.29
	Travelling and conveyance			67.38	18.17
	Legal and professional fees			131.97	78.32
	Freight & forwarding expenses			390.77	261.37
	Sundry advances written off			3.98	1.82
	Loss on sale of property, plant and equipment and non-current assets held for sale			-	0.18
	Derivatives at FVTPL (refer below note (a))Impairment allowance for trade receivable considered doubtful			45.3856.03	65.2227.76
	CSR expenditure			51.00	39.89
	Other miscellaneous expenses			209.19	168.61
				2,055.62	1,279.57
	(a)LossonfairvaluationoffinancialinstrumentsatFVTPLrelatestoforeignaccounting and on embedded derivatives, which have been separated.	exchangefluctuationon	forwardcontracts	thatdidnot	qualifyforhedge
15.	Earnings per share(a)Basic Earnings per share


				30 Jun 21	30 Jun 20
	Profit after taxation		A	750.59	1,122.76
	Weighted average number of equity shares for basic earning per share	Number	B(A/B)	149,137,3995.03	148,915,1847.54
	(b)Diluted Earnings per share


				30 Jun 21	30 Jun 20
			A	750.59	1,122.76
	Profit after taxation
	Weighted average number of equity shares for basic earning per shareEffect of dilution	Number	B	149,137,399	148,915,184
	Share options	Number	C	670,283	478,849
	Weighted average number of equity shares adjusted for effect of dilution	Number	D=(B+C)(A/D)	149,807,6825.01	149,394,0337.52

	30 Jun 21	30 Jun 20

			131.97	78.32






Other miscellaneous expenses			209.19	168.61
			2,055.62	1,279.57
accounting and on embedded derivatives, which have been separated.

			30 Jun 21	30 Jun 20






			30 Jun 21	30 Jun 20
				1,122.76

Profit after taxation		A	750.59
Weighted average number of equity shares for basic earning per share	Number	B	149,137,399	148,915,184
Effect of dilution
Share optionsWeighted average number of equity shares adjusted for effect of dilution	NumberNumber	CD=(B+C)	670,283149,807,682	478,849149,394,033

16. Contingent liabilities and commitments

	Polycab India Limited
	Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

16.	Contingent liabilities and commitments
(A)	Contingent liabilities (to the extent not provided for)
	(i)Outstanding corporate guarantees given on behalf of subsidiaries and Joint venture's (Refer
	note 17 (E))	4,725.64	4,704.62
	(ii)Taxation matters
	Disputed liability in respect of sales tax /VAT demand & pending sales tax / VAT forms	4.90	4.30
	Disputed liability in respect of Service tax duty demandDisputed liability in respect of excise duty demand	18.178.60	18.178.60
	Disputed liability in respect of custom duty demand	17.08	17.04
	(iii)Customs Duty on Capital goods imported under Export Promotion Capital Goods Scheme,against which export obligation is to be fulfilled	40.25	37.05
	(iv)Customs Duty on Raw Materials imported under Advance License, against which exportobligation is to be fulfilled	206.12	207.38
	Notes:
	(a)Inrespectoftheitemsabove,futurecashoutflowsinrespectofcontingentjudgements/decisionspendingatvariousforums/authority.TheCompanydoesn'texpectmaterial adverse effect on the Company's financial conditions, result of operations or cash flows.	liabilitiesaredeterminabletheoutcomeofmattersstated	onlyonreceiptofabovetohavea
	(b)Thereisuncertaintyandambiguityininterpretingandgivingeffecttotheguidelines	ofHonourableSupremeCourt	videitsrulingin
	February2019,inrelationtothescopeofcompensationonwhichtheorganisation	anditsemployeesareto	contributetowards
	Provident Fund. The Company will evaluate its position and act, as clarity emerges.
(B)	Commitments
		30 Jun 21	31 Mar 21
	Capital commitments
	(Estimated value of contracts in capital account remaining to be executed and not provided for(net of capital advances))
	Towards Property, Plant and Equipment	955.21	1,241.81

17.The	Related party disclosuretransactionswithrelatedpartiesaremadeontermsequivalenttothosethatprevailin	arm'slengthtransactions.Outstanding	balancesat
	the period-end are unsecured and settlement occurs in cash or credit as per the terms of the arrangement.
(A)	Enterprises where control exists


(i)	Subsidiaries
	Polycab Wires Italy SRL Liquidated (PWISRL)Italy	-	-
	(Ceased to be Wholly -Owned Subsidiary w.e.f. 05 Mar 2021)Tirupati Reels Private Limited (TRPL)India
		55%	55%

Notes:

(B) Commitments

	30 Jun 21	31 Mar 21
Capital commitments
(Estimated value of contracts in capital account remaining to be executed and not provided for(net of capital advances))
Towards Property, Plant and Equipment	955.21	1,241.81

17. Related party disclosure

	(iii)Customs Duty on Capital goods imported under Export Promotion Capital Goods Scheme,		40.25	37.05
	against which export obligation is to be fulfilled
	(iv)Customs Duty on Raw Materials imported under Advance License, against which exportobligation is to be fulfilled		206.12	207.38

	Notes:(a)

	(b)Provident Fund. The Company will evaluate its position and act, as clarity emerges.
(B)	Commitments
			30 Jun 21	31 Mar 21
	Capital commitments
	(Estimated value of contracts in capital account remaining to be executed and not provided for(net of capital advances))
	Towards Property, Plant and Equipment		955.21	1,241.81

The(A)	transactionswithrelatedpartiesaremadeontermsequivalenttothosethatthe period-end are unsecured and settlement occurs in cash or credit as per the terms of the arrangement.Enterprises where control exists	prevailinarm'slength	transactions.Outstanding	balancesat

(i)	Subsidiaries
	Polycab Wires Italy SRL Liquidated (PWISRL)(Ceased to be Wholly -Owned Subsidiary w.e.f. 05 Mar 2021)	Italy	-	-
	Tirupati Reels Private Limited (TRPL)	India	55%	55%
	Dowells Cable Accessories Private Limited (DCAPL)	India	51%	51%
	Polycab Electricals & Electronics Private Limited (PEEPL)	India	100%	100%
	Polycab USA LLC (PUL)	USA	100%	100%
	Ryker Base Private Limited (Ryker) (Refer note 2A) (a)	India	100%	100%
	Polycab Australia Pty Ltd (b)	Australia	100%	100%
	Polycab Support Force Private Limited (PSFPL) (c)	India	100%	100%
	Uniglobus Electricals and Electronics Private Limited (UEEPL) (d)	India	100%	100%
	Silvan Innovations Labs Pvt. Ltd. (e)	India	100%	-
(ii)	Joint Ventures
	Techno Electromech Private Limited (TEPL)	India	50%	50%
	(a) Joint venture till 05 May 2020 and became wholly owned subsidiary from 06 May 2020
	(b) incorporated on 01 July 2020
	(c) incorporated on 13 March 2021
	(d) incorporated on 24 March 2021
	(e) acquired on 18 June 2021
(B)	Enterprises owned or significantly influenced by key managerial personnel
	AK Enterprises (A K)
	Polycab Social Welfare FoundationT.P. Ostwal & Associates LLP
(C)(i)	Key management personnelExecutive directors
	Mr. Inder T. JaisinghaniChairman and managing Director
	Mr. Ramesh T. Jaisinghani (c)Whole-time director (up to 12 May 2021)
	Mr. Ajay T. Jaisinghani (c)Whole-time director (up to 12 May 2021)
	Mr. Shyam Lal Bajaj (a) (c)Whole time director (up to 12 May 2021)
	Mr. Rakesh Talati (d)Whole-time director (w.e.f. 13 May 2021)
	Mr. Bharat A. Jaisinghani (d)Whole-time director (w.e.f. 13 May 2021)

Mr. Ramesh T. Jaisinghani (c)	Whole-time director (up to 12 May 2021)
Mr. Ajay T. Jaisinghani (c)	Whole-time director (up to 12 May 2021)
Mr. Shyam Lal Bajaj (a) (c)	Whole time director (up to 12 May 2021)
Mr. Rakesh Talati (d)	Whole-time director (w.e.f. 13 May 2021)
Mr. Bharat A. Jaisinghani (d)	Whole-time director (w.e.f. 13 May 2021)
Mr. Nikhil R. Jaisinghani(d)	Whole-time director (w.e.f. 13 May 2021)

17. Related party disclosure

		Polycab India Limited
			Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

17.		Related party disclosure
(C)	(ii)	Key management personnelNon- Executive directors
		Mr. R S Sharma	Independent director
		Mr. T P Ostwal	Independent director
		Mr. Pradeep Poddar	Independent director
		Ms. Hiroo Mirchandani	Independent director (up to 12 May 2021)
		Ms. Sutapa Benerjee	Independent director (w.e.f. 13 May 2021)
	(iii)	Key management personnel
		Mr. Gandharv Tongia	Chief financial officer (w.e.f. 31 May 2020)
		Mr. Subramaniam Sai Narayana (b)	Company secretary and compliance officer (up to 23 Jan 2021)
		Ms. Manita Gonsalves	Company secretary and compliance officer (w.e.f. 24 Jan 2021)
	(iv)	Relatives of Key management personnel
			Brother of Mr. Inder T. Jaisinghani, Mr. Ajay T. Jaisinghani & Mr.
		Mr. Girdhari T. Jaisinghani	Ramesh T. Jaisinghani
		Mr. Kunal I. Jaisinghani	Son of Mr. Inder T. Jaisinghani
		Mr. Puneet Sehgal	Son in law of Ramesh T. Jaisinghani
	(a)	12 May 2021.	Mr. Shyam Lal Bajaj resigned from CFO position w.e.f. closing business hours 30 May 2020 and continued as a whole time director till
	(b)		Mr. Subramaniam Sai Narayana resigned from Company secretary and compliance officer position w.e.f. 23 January 2021.
	(c)	Resigned from Whole-time director position w.e.f. closing business hours 12 May 2021.
	(d)	Appointed as Whole-time director w.e.f. 13 May 2021.

(D)		Transactions with group companies



	(i)	Sale of goods (including GST)
		Tirupati Reels Private Limited	Subsidiary	-	11.57340.80
		Ryker Base Private Limited	Subsidiary	354.59

Mr. Girdhari T. Jaisinghani	Brother of Mr. Inder T. Jaisinghani, Mr. Ajay T. Jaisinghani & Mr.Ramesh T. Jaisinghani

(iii)	Key management personnel
	Mr. Gandharv Tongia	Chief financial officer (w.e.f. 31 May 2020)
	Mr. Subramaniam Sai Narayana (b)		Company secretary and compliance officer (up to 23 Jan 2021)


	Mr. Girdhari T. Jaisinghani	Ramesh T. Jaisinghani	Brother of Mr. Inder T. Jaisinghani, Mr. Ajay T. Jaisinghani & Mr.


(a)	Mr. Shyam Lal Bajaj resigned from CFO position w.e.f. closing business hours 30 May 2020 and continued as a whole time director till12 May 2021.
(b)	Mr. Subramaniam Sai Narayana resigned from Company secretary and compliance officer position w.e.f. 23 January 2021.
(c)	Resigned from Whole-time director position w.e.f. closing business hours 12 May 2021.
(d)	Appointed as Whole-time director w.e.f. 13 May 2021.





(i)	Sale of goods (including GST)	Subsidiary	-	11.57
	Tirupati Reels Private Limited	Subsidiary	354.59	340.80
	Ryker Base Private Limited	Subsidiary	8.58	2.12
	Techno Electromech Private LimitedPolycab Australia PTY Ltd	Subsidiary	61.79	-

(ii)	Purchase of goods (including GST)
	Tirupati Reels Private Limited	Subsidiary	159.23	58.47
	Dowells Cable Accessories Private Limited	Subsidiary	0.50	0.20
	Techno Electromech Private Limited	Joint Venture	164.04	45.85
(iii)	Sub-contracting expense (including GST)
	Ryker Base Private Limited	Subsidiary	100.31	62.55
	Techno Electromech Private Limited	Joint Venture	4.99	7.96
(iv)	Job work Income (including GST)
	Ryker Base Private Limited	Subsidiary	1.00	-
(v)	Recovery for Employee Stock Options granted
	Ryker Base Private Limited	Subsidiary	2.49	-

(vi)	Reimbursement of Gas Expense	Subsidiary
	Ryker Base Private Limited		3.40	-
(vii)	Commission received (including GST)
	Tirupati Reels Private Limited	Subsidiary	0.77	0.78
(viii)	Rent received (including GST)
	Dowells Cable Accessories Private Limited	Subsidiary	2.06	2.00
	Ryker Base Private Limited	Subsidiary	0.16	0.16
(ix)	Interest received
	Dowells Cable Accessories Private Limited	Subsidiary	-	0.12
	Ryker Base Private Limited	Subsidiary	6.28	3.52
	Polycab Australia PTY Ltd	Subsidiary	0.28	-
	Techno Electromech Private Limited	Joint Venture	3.43	3.45
(x)	Testing charges paid (including GST)
	Techno Electromech Private Limited	Joint Venture	0.04	0.10

(xi)	Other charges recovered (including GST)
	Dowells Cable Accessories Private Limited	Subsidiary	1.21	0.11
	Ryker Base Private Limited	Subsidiary	0.52	0.57
(xii)	Sale of Fixed Assets (including GST)
	Techno Electromech Private Limited	Joint Venture	-	26.86
(xiii)	Investment made
	Uniglobus Electricals and Electronics Private Limited	Subsidiary	0.10	-
(xiv)	Loans given
	Ryker Base Private Limited	Subsidiary	-	300.00
	Uniglobus Electricals and Electronics Private Limited	Subsidiary	4.17	-

17. Related party disclosure

		Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

17.		Related party disclosure
(D)		Transactions with group companies


	(xv)	Loan given repaid
		Dowells Cable Accessories Private Limited	Subsidiary	-	1.88
		Techno Electromech Private Limited	Joint Venture	5.21	-
	(xvi)	Corporate guarantee given (Refer note below)
		Ryker Base Private Limited	Subsidiary	-	2,138.18

	(xvii)	Fair value Corporate guarantee (Refer note below)Ryker Base Private Limited	Subsidiary	3.66	1.13

		(xviii) Recovery of Manpower charges
		Dowells Cable Accessories Private Limited	Subsidiary	0.26	-
		Uniglobus Electricals and Electronics Private Limited	Subsidiary	4.29	-
		(xix) Investment made in Compulsorily Convertible Debentures
		Silvan Innovations Labs Pvt. Ltd.	Subsidiary	63.16	-
	(xx)	Rent paid (including GST)AK Enterprises	Enterprises owned orsignificantly influenced by key	6.92	-
			managerial personnel
(E)		Outstanding as at:
				30 Jun 21	31 Mar 21
	(i)	Loans
		Ryker Base Private Limited	Subsidiary	300.00	300.00
		Uniglobus Electricals and Electronics Private Limited	Subsidiary	4.17	-
		Polycab Australia PTY Ltd	Subsidiary	25.07	25.07
		Techno Electromech Private Limited	Joint Venture	110.00	115.21
		Trade Receivables
	(ii)
		Tirupati Reels Private Limited	Subsidiary	3.93	3.20
		Dowells Cable Accessories Private Limited	Subsidiary	1.03	-
		Techno Electromech Private Limited	Joint Venture	19.60	23.61
		Ryker Base Private Limited	Subsidiary	114.03	456.69
		Polycab Australia PTY LtdUniglobus Electricals and Electronics Private Limited	SubsidiarySubsidiary	194.694.29	480.67-

30 Jun 21 31 Mar 21 Ryker Base Private Limited 300.00 300.00 Uniglobus Electricals and Electronics Private Limited 4.17 - Polycab Australia PTY Ltd Subsidiary 25.07 25.07 Techno Electromech Private Limited 110.00 115.21 Tirupati Reels Private Limited 3.93 3.20 Dowells Cable Accessories Private Limited 1.03 - Techno Electromech Private Limited 19.60 23.61 Ryker Base Private Limited 114.03 456.69 Polycab Australia PTY Ltd Subsidiary 194.69 480.67 Uniglobus Electricals and Electronics Private Limited 4.29 - (iii) Trade Receivables - FA Techno Electromech Private Limited 85.19 85.19 (iv) Receivable under liquidation Polycab Wires Italy SRL, Liquidated Subsidiary 1.05 1.03 (v) Advance given for material and services Ryker Base Private Limited Subsidiary 49.46 28.62 (vi) Interest accrued on loan given Techno Electromech Private Limited 3.12 3.18 Polycab Australia PTY Ltd Subsidiary 0.27 0.25 Ryker Base Private Limited 4.21 2.14 (vii) Trade Payables Tirupati Reels Private Limited 56.44 117.03 Dowells Cable Accessories Private Limited 0.67 3.03 Techno Electromech Private Limited 67.91 71.30 Ryker Base Private Limited 8.34 - AK Enterprises 2.06 - (viii) Security Deposits given AK Enterprises 6.03 5.91 Note: Subsidiary Enterprises owned or significantly influenced by key managerial personnel Enterprises owned or significantly influenced by key managerial personnel Company has provided a guarantee for credit facility availed by the Ryker Base Private Limited and Tirupati Reels Private Limited, amounting to 4,205.64 Million [$ 25 Million and 2,347 Million] and (31 March 2021 : 4,184.62 Million [$ 25 Million and 2,347 Million] and 520.00 Million (31 March 2021 : 520.00 Million) respectively. The fair value of corporate guarantee 11.65 million (31 March 2021 : 15.31 Million) Subsidiary Joint Venture Subsidiary Subsidiary Joint Venture Subsidiary Joint Venture Joint Venture Subsidiary Subsidiary Subsidiary Subsidiary Joint Venture Subsidiary

has been included in carrying cost of investment.

17. Related party disclosure

Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021












Related party disclosure
Transactions with KMP:
Remuneration paid for the period ended and outstanding as at: (a)(i)
	30 Jun 21		30 Jun 20	31 Mar 21
	Three months	Outstanding as	Three months	Outstanding as
	period ended	at	period ended	at
Executive directors (Includes Salary, Performance Incentive and commission to CMD)
Mr. Inder T. Jaisinghani	21.20	113.30	21.57	99.07
Mr. Ramesh T. Jaisinghani	3.73	8.37	6.20	7.50
Mr. Ajay T. Jaisinghani	3.73	8.37	6.20	7.50
Mr. Bharat A. JaisinghaniMr. Nikhil R. Jaisinghani	3.063.06	2.192.19	--	--
Mr. Rakesh Talati	2.45	1.69	-	-
Mr. Shyam Lal Bajaj	3.25	6.88	5.50	6.17
Non- Executive directors (Includes sitting fees and commission)
Mr. T P Ostwal	0.76	2.50	0.94	2.00
Mr. R S Sharma	0.76	2.50	0.94	2.00
Mr. Pradeep Poddar	0.84	2.50	0.86	2.00
Ms. Hiroo Mirchandani	-	2.00	0.78	2.00
Ms. Sutapa Benerjee	0.60	0.50	-	-
Key management personnel (Includes Salary and Performance Incentive)
Mr. Gandharv Tongia	5.340.79	2.420.24	1.06-	1.670.22
	-	-	0.67	-
Ms. Manita Gonsalves		forthe	Companyasawhole,	theamounts
Mr. Subramaniam Sai Narayana
(a)Astheliabilitiesforgratuityandleaveencashmentareprovidedpertaining to the directors and KMP are not included above.	onactuarialbasis
Share based payments to KMP(a)(ii)
			Three months	Three months
			period ended	period ended
			30 Jun 21	30 Jun 20
Mr. Shyam Lal BajajMr. Gandharv Tongia			0.550.53	1.670.25
Mr. Rakesh Talati			0.29	-
Mr. Subramaniam Sai Narayana			-	0.17
(a) Represents expense by way of share based payments attributable to directors and KMP
(iii)Sale of fixed assets to KMP (Including GST)
	30 Jun 21Three months	Outstanding as	30 Jun 20Three months	31 Mar 21Outstanding as

Three months	Three months
period ended	period ended
30 Jun 21	30 Jun 20

Non- Executive directors (Includes sitting fees and commission)Key management personnel (Includes Salary and Performance Incentive)pertaining to the directors and KMP are not included above.Three monthsThree monthsperiod endedperiod ended30 Jun 2130 Jun 20(a) Represents expense by way of share based payments attributable to directors and KMP30 Jun 2130 Jun 2031 Mar 21Three monthsOutstanding asThree monthsOutstanding asperiod endedatperiod endedatMr. Ramesh T. Jaisinghani---1.35Mr. Ajay T. Jaisinghani---0.17Mr. Puneet Sehgal---0.55(iv)Transactions where KMP's are interested30 Jun 2130 Jun 2031 Mar 21Nature ofThree monthsOutstanding asThree monthsOutstanding astransactionperiod endedatperiod endedatPolycab Social Welfare FoundationDonation51.0043.6339.73-T.P. Ostwal & Associates LLP (excluding GST) Professional fees for0.140.280.650.16tax advisory(G)Transactions with relatives of KMP:Remuneration paid for the period ended and outstanding as at:30 Jun 2130 Jun 2031 Mar 21Three monthsOutstanding asThree monthsOutstanding asperiod endedatperiod endedatMr. Bharat A. Jaisinghani0.84-2.572.98Mr. Nikhil R. Jaisinghani0.84-2.572.98Mr. Girdhari T. Jaisinghani-2.181.772.18Mr. Kunal I. Jaisinghani0.650.240.610.01










































Segment reporting18.	The Company is organised into business units based on its products and services and has three reportable segments as follows:


	30 Jun 21
Three monthsperiod ended	Outstanding asat	Three monthsperiod ended	Outstanding asat

The Company is organised into business units based on its products and services and has three reportable segments as follows: Wire and Cable: Manufacture and sale of wires and cables.

Polycab India Limited













Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

18.Segment Reporting

The following summary describes the operations in each of the Company's reportable segments for three months period ended:


Income
External salesInter segment revenue	16,174.6240.60	1,918.82-	432.81-	-(40.60)	18,526.25-	8,237.7714.35	1,377.98-	432.94-	-(14.35)	10,048.69-
Total Income	16,215.22	1,918.82	432.81	(40.60)	18,526.25	8,252.12	1,377.98	432.94	(14.35)	10,048.69
Segment Results
External	990.82	(138.96)	78.20	-	930.06	254.88	(55.62)	66.71	-	265.97
Inter segment results	2.51	-	-	(2.51)	-	0.45	-	-	(0.45)	-
Segment/Operating results	993.33	(138.96)	78.20	(2.51)	930.06	255.33	(55.62)	66.71	(0.45)	265.97
Un-allocated items:Finance income					133.09					216.52
Finance costs					93.80					133.07
Profit before tax					969.35					349.42
Income tax expenses
Current tax					256.68					90.63
Adjustment of tax relating to					(30.55)					(861.07)
earlier yearDeferred tax (credit)/charge					(7.37)					(2.90)
Profit for the year					750.59					1,122.76
Depreciation & amortisation
expenses	436.71	48.97	0.98	-	486.66	379.39	39.19	0.72	-	419.30
Non-cash expenses/ (Income)
other than depreciation	199.82	12.98	11.00	-	223.80	(115.31)	16.87	(4.14)	-	(102.58)
Total cost incurred during the
year to acquire segment assets	703.44	64.38	-	-	767.82	226.87	8.06	-	-	234.93
(net of disposal)
Revenue by Geography(B)
The amount of its revenue from external customers analysed by the country, in which customers are located, are given below:
							Three months period			Three months period
							ended30 Jun 21			ended30 Jun 20
Within India								17,368.65		9,035.37
Outside India								1,157.60		1,013.32
								18,526.25		10,048.69
Segment assets(C)			30 Jun 21					31 Mar 21
	Wires &			Eliminatio		Wires &			Eliminatio
	Cables	FMEG	Others	ns	Total	Cables	FMEG	Others	ns	Total
Segment assetsUnallocated assets:	44,009.78	6,452.77	3,791.26	-	54,253.81	44,545.63	5,896.31	4,247.92	-	54,689.86
Investments (Non-current and
					6,791.68					6,969.75
Current)					425.98					269.66
Income tax assets (net)
Cash and cash equivalents andbank balance (Including fixed					4,260.40					4,710.15

(B) Revenue by Geography

The amount of its revenue from external customers analysed by the country, in which customers are located, are given below:
	Three months period	Three months period
	ended	ended
	30 Jun 21	30 Jun 20
Within India	17,368.65	9,035.37
Outside India	1,157.60	1,013.32

(C) Segment assets

Depreciation & amortisation436.7148.970.98486.66379.3939.190.72-419.30-expensesNon-cash expenses/ (Income)other than depreciation199.8212.9811.00-223.80(115.31)16.87(4.14)-Total cost incurred during theyear to acquire segment assets703.4464.38--767.82226.878.06--234.93(net of disposal)(B)Revenue by GeographyThe amount of its revenue from external customers analysed by the country, in which customers are located, are given below:Three months periodThree months periodendedended30 Jun 2130 Jun 20Within India17,368.659,035.37Outside India1,157.601,013.3218,526.2510,048.69Segment assets30 Jun 2131 Mar 21Wires &EliminatioWires &EliminatioOthersTotalOthersTotalFMEGFMEGCablesnsCablesnsSegment assets44,009.786,452.773,791.26-54,253.8144,545.635,896.314,247.92-54,689.86Unallocated assets:Investments (Non-current and6,791.686,969.75Current)Income tax assets (net)425.98269.66Cash and cash equivalents and4,260.404,710.15bank balance (Including fixeddeposit)Loans479.83447.73Other unallocable assets1,529.33181.78Total assets67,741.0367,268.93Segment liabilities		earlier year			(30.55)			(861.07)



								(102.58)





	(C)










	(D)

			30 Jun 21					31 Mar 21
	Wires &Cables	FMEG	Others	Eliminations	Total	Wires &Cables	FMEG	Others	Eliminations	Total
Segment liabilities	13,202.79	1,877.63	2,832.97	-	17,913.39	12,723.64	2,666.93	2,902.67	-	18,293.24
Unallocated liabilities:
Borrowings (Non-Current andCurrent, including CurrentMaturity)					652.88					918.73
Current tax liabilities (net)					30.14					267.45
Deferred tax liabilities (net)					321.32					337.64
Other unallocable liabilities					985.01					379.57
										20,196.63
Non-current assets by Geography(E)					19,902.74

The total of non-current assets excluding financial assets and deferred tax assets analysed by the country in which assets are located are given below:

	30 Jun 21	31 Mar 21
Within India	18,466.24	18,069.81
Outside India	-	-
	18,466.24	18,069.81

19. Financial Instruments and Fair Value Measurement

	Polycab India Limited
	Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

19.For	Financial Instruments and Fair Value Measurementthepurposeoffairvaluedisclosures,theCompanyhasdeterminedclassesofand risk of the assets or liability are explained as in the accounting policy of the Company.	assetsandliabilities	onthebasis	ofthenature,	characteristics
Set	outbelow,isacomparisonbyclassofthecarryingamountsandfairvalue	oftheCompany's	financialinstruments,	other	thanthosewith
	carrying amounts that are reasonable approximations of fair values:		Carrying value		Fair value
		30 Jun 21	31 Mar 21	30 Jun 21	31 Mar 21
	Financial assets
	Measured at amortised costTrade receivables	10,313.71	15,595.76	10,313.71	15,595.76
	Cash and cash equivalents	499.92	1,974.12	499.92	1,974.12
	Bank balance other than cash and cash equivalents (refer note h)	3,202.87	2,904.75	3,202.87	2,904.75
Loans		479.83	447.73	479.83	447.73
	Other financial assets	851.77	818.66	851.77	818.66
	Measured at fair value through profit or loss account (FVTPL)Investment in mutual funds	5,888.40	6,231.27	5,888.40	6,231.27
	Derivative Assets	99.81	33.79	99.81	33.79
		21,336.31	28,006.08	21,336.31	28,006.08
	Financial liabilitiesMeasured at amortised cost
	Borrowings - long term including current maturities and short term	652.88	918.73	652.88	919.51
	Trade payables	14,232.07	13,061.43	14,232.07	13,061.43
	Creditors for capital expenditure	166.85	273.78	166.85	273.78
	Obligations under leaseFair value of corporate guarantee	345.5111.65	335.2215.31	356.3411.65	345.5815.31
	Other financial liabilities	46.03	46.10	46.03	46.10
	Measured at fair value through profit or loss account (FVTPL)
	Derivative liabilities	392.76	1,013.31	392.76	1,013.31
		15,847.75	15,663.88	15,858.58	15,675.02
	Interestrateswaps,foreignexchangeforwardcontractsandembeddedcommodityemploy the use of market observable inputs( closing rates of foreign currency and commodities).	derivativeare	valuedusing	valuation	techniques,which
	Embeddedforeigncurrencyandcommodityderivativesaremeasuredsimilarlyderivatives. The embedded derivatives are commodity and foreign currency forward contracts which are separated from purchase contracts.	totheforeign	currencyforward	contracts	andcommodity
(c)	Themanagementassessedthatcashandcashequivalents,tradereceivables,loanstoemployees,shorttermsecuritydepositandothercurrentliabilities	tradepayables,approximatetheircarrying	short-termborrowings,amounts	loanstolargelydueto	relatedparty,theshort-term
	maturities of these instruments.
(d)	Thefairvalueofthefinancialassetsandliabilitiesisincludedattheamounttransaction between willing parties, other than in a forced or liquidation sale.	atwhichthe	instrumentcould	beexchanged	inacurrent
(e)	The fair values of the mutual funds are based on NAV at the reporting date.
(f)	The fair value of interest rate swaps are based on MTM bank rates as on reporting date.
(g)	TheCompanyentersintoderivativefinancialinstrumentswithvariouscreditratings.ForeignexchangeforwardcontractsarevaluedusingvaluationThemostfrequentlyappliedvaluationtechniquesincludeforwardpricingandincorporatevariousinputsincludingthecreditqualityofcounterparties,foreigncurrencies,currencybasisspreadsbetweentherespectivecurrencies,interestmaterialeffectonthehedgeeffectivenessassessmentforderivativesrecognised at fair value.	counterparties,principallytechniques,whichswapmodels,usingexchangespotandratecurves.Thedesignatedinhedge	financialinstitutionsemploystheusepresentvalueforwardrates,changesinrelationshipsand	withofmarketcalculations.yieldcurvesofcounterpartycreditotherfinancial	investmentgradeobservableinputs.Themodelstherespectiveriskhadnoinstruments
(h)
	Fair value hierarchy
	assetsandliabilitiesforwhichfairvalueismeasuredordisclosedinthefinancial	statementsare	categorisedwithin	thefairvalue	hierarchy,to

(c) maturities of these instruments.
(d) transaction between willing parties, other than in a forced or liquidation sale.
(e) The fair values of the mutual funds are based on NAV at the reporting date.
(f) The fair value of interest rate swaps are based on MTM bank rates as on reporting date.
(g) recognised at fair value. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, to provide an indication about the reliability of inputs used in determining fair value, the Company has classified its financial statements into three
(h)

Fair value hierarchy

levels prescribed under the Ind AS as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

observable

The following table provides the fair value measurement hierarchy of the Company's assets and liabilities.

19. Financial Instruments and Fair Value Measurement

Polycab India Limited
Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

19.Financial Instruments and Fair Value Measurement
Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at 30 June 2021 :
				Fair value measurement using
	Date of		Quoted prices	Significant	Significant
	valuation	Total	in activemarkets	observableinputs	unobservableinputs

			(Level 1)	(Level 2)	(Level 3)
Assets measured at fair value:
Units of mutual fundsDerivative Assets	30 Jun 21	5,888.40	5,888.40	-	-
Embedded derivatives	30 Jun 21	94.60	-	94.60	-
Forward Contract	30 Jun 21	3.59	-	3.59	-
Interest rate and cross currency swap	30 Jun 21	1.50	-	1.50	-

Liabilities measured at fair value:
Derivative liabilities :
Commodity contracts	30 Jun 21	392.64	-	392.64	-
Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at 31 March 2021:				Fair value measurement using

	Date of		Quoted prices	Significant	Significant
	valuation	Total	in active	observable	unobservable
			markets	inputs	inputs
			(Level 1)	(Level 2)	(Level 3)
Assets measured at fair value:
Units of mutual funds	31 Mar 21	6,231.27	6,231.27	-	-
Derivative AssetsForward Contract	31 Mar 21	31.37	-	31.37	-
Interest rate and cross currency swap	31 Mar 21	2.42	-	2.42	-

Liabilities measured at fair value:

	Date ofvaluation	Total	Quoted pricesin activemarkets	Significantobservableinputs	Significantunobservableinputs

Assets measured at fair value:







Derivative liabilities :

				Fair value measurement using

	Date of		Quoted prices	Significant	Significant
	valuation	Total	in activemarkets	observableinputs	unobservableinputs

			(Level 1)	(Level 2)	(Level 3)
Assets measured at fair value:
Units of mutual funds	31 Mar 21	6,231.27	6,231.27	-	-
Derivative Assets
Forward Contract	31 Mar 21	31.37	-	31.37	-
Interest rate and cross currency swap	31 Mar 21	2.42	-	2.42	-
Liabilities measured at fair value:
Derivative liabilities :
Embedded derivatives	31 Mar 21	356.38	-	356.38	-
Commodity contracts	31 Mar 21	656.93	-	656.93	-
TheCompany'spolicyistorecognisetransfersintoandcircumstances that caused the transfer. However, there were no transfers between the levels as at the end of the reporting period.Financial Risk Management Objectives And Policies	transfersoutoffairvaluehierarchy	levels	asofthedate	oftheevent	orchangein

TheCompany'sprincipalfinancialliabilities,otherthanpurposeofthesefinancialliabilitiesistofinancetheCompany'sprincipalfinancialassetsincludeloans,tradeandother	derivatives,compriseloansandoperationsandtoprovidereceivables,andcashandcash	borrowingsguaranteesequivalents	andtradeandtosupportitsthatderivedirectly	otherpayables.operations.fromits	ThemainTheCompany'soperations.The
Company also holds FVTPL investments and enters into derivative transactions.
TheCompanyisexposedtomarketrisk,creditriskandliquidityCommitteetoperiodicallyreviewtheriskmanagementpolicyofmechanism.TheRiskManagementCommittee'sfocusistofinancialperformance.TheCompany'soverallriskmanagementCompany's performance are as follows:	risk.TheBoardofDirectorstheCompanysothattheforeseetheunpredictabilityandprocedurestominimise	ofthemanagementminimizethepotential	Companyhasmanagesthepotentialadverseadverseeffects	formedaRiskriskthrougheffectsonoffinancial	ManagementproperlydefinedtheCompany'smarketonthe
Market Risk(A)
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Marketriskcomprisesthreetypesofrisk:interestraterisk,currencyinstruments affected by market risk include loans and borrowings, deposits, FVTPL investments and derivative financial instruments.	riskandotherpricerisk,	suchasequity	priceriskand	commodity	risk.Financial
Interest rate risk(i)Interestrateriskistheriskthatthefairvalueorfutureinterestrates.TheCompany'sexposuretotheriskofobligationswithfloatinginterestrates.TheCompanyinvestments in mutual fund units in overnight funds.	cashflowsofafinancialchangesinmarketinterestisalsoexposedtotherisk	instrumentratesrelatesofchanges	willfluctuateprimarilytotheinmarketinterest	becauseofchangesCompany'srates	inmarketlong-termdebtrelatesduetoits
TheCompanymanagesitsinterestrateriskbyhavingrateswapsforlongtermforeigncurrencyborrowings,andvariablerateinterestamountscalculatedbyreferenceaccounttheeffectofinterestrateswaps,approximately	afixedandvariablerateinwhichitagreestoexchange,toanagreed-uponnotional2%oftheCompany's	loansandatspecifiedprincipalborrowingsare	borrowings.Theintervals,amount.At30atafixedrate	CompanyentersthedifferenceJune2021,ofinterest(31	intointerestbetweenfixedaftertakingintoMarch2021:

(A) Market Risk

(i) Interest rate risk

The Company manages its interest rate risk by having a fixed and variable rate loans and borrowings. The Company enters into interest rate swaps for long term foreign currency borrowings, in which it agrees to exchange, at specified intervals, the difference between fixed and variable rate interest amounts calculated by reference to an agreed-upon notional principal amount. At 30 June 2021, after taking into account the effect of interest rate swaps, approximately 2% of the Company's borrowings are at a fixed rate of interest (31 March 2021:

20. Financial Risk Management Objectives And Policies

Interest rate sensitivity

Polycab India Limited
	Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

	Financial Risk Management Objectives And Policies
	Interest rate sensitivity
Thefollowing	tabledemonstratesthesensitivitytoa	reasonablypossiblechangein	interestrates	onthatportion	ofloansand	borrowings
affected,after	theimpactofhedgeaccounting.Withall	othervariablesheldconstant,	the	Company'sprofitbefore	taxis	affectedthrough
	the impact on floating rate borrowings, as follows:
		Exposure to interest rate risk		Increase/		Effect on profitbefore tax
		(Principal amount of loan)		decrease in basis points		gain/ ( loss)
30 Jun 21			637.92
Increase					+100	(6.38)
Decrease31 Mar 21			883.56		-100	6.38
Increase					+100	(8.84)
Decrease					-100	8.84
Foreign currency risk(ii)
Foreign	currencyriskistheriskthatthefairvalueor	futurecashflowsofan	exposurewill	fluctuatebecause	ofchanges	inforeign
exchange	rates.TheCompany'sexposuretotheriskof	changesinforeignexchange	ratesrelates	primarilyto	theCompany's	operating
	activities (when revenue or expense is denominated in a foreign currency) and the Company's borrowings in foreign currency.

TheCompany	Derivative financial instrumentsentersintoderivativecontractswithan	intentiontohedgeitsforeign	exchange	priceriskand	interestrisk.	Derivative
contracts	whicharelinkedtotheunderlyingtransactions	arerecognisedinaccordance	withthe	contractterms.	Suchderivative	financial
instruments	areinitiallyrecognisedatfairvalueonthe	dateonwhichaderivative	contract	isenteredinto	andare	subsequentlyre-
measuredat	fairvalue.Derivativesarecarriedasfinancial	assetswhenthefairvalue	ispositive	andasfinancial	liabilities	whenthefair
valueis	negative.AnygainsorlossesarisingfromchangesTo some extent the Company manages its foreign currency risk by hedging transactions.	inthefairvalueofderivatives	are	takendirectlyto	Statementof	Profit&Loss.

	Particulars of unhedged foreign currency exposures as at the reporting date:
Currency		Currency	30 Jun 21Foreign		31 Mar 21Foreign	Indian

		Symbol	currency	Indian Rupees	currency	Rupees

Derivative financial instruments

	Exposure to interest rate risk(Principal amount of loan)	Increase/decrease in basis points		Effect on profitbefore taxgain/ ( loss)
30 Jun 21	637.92
Increase			+100	(6.38)
Decrease			-100	6.38
31 Mar 21	883.56



activities (when revenue or expense is denominated in a foreign currency) and the Company's borrowings in foreign currency.
Derivative financial instrumentsvalueisnegative.AnygainsorlossesarisingfromchangesTo some extent the Company manages its foreign currency risk by hedging transactions.	inthefairvalueofderivativesare	takendirectlyto	Statementof	Profit&Loss.
Particulars of unhedged foreign currency exposures as at the reporting date:
		30 Jun 21	31 Mar 21

Currency	CurrencyForeignSymbol	Indian Rupees	Foreign	Indian
	currency		currency	Rupees
United States Doller	USD(87.70)	(6,519.98)	(54.07)	(3,974.68)
EURO	Euro	2.22196.67	1.32	113.33
Pound	GBP	2.64271.73	1.00	101.39
Swiss Franc	CHF	0.2015.85	0.05	3.86
Australian Dollar	AUD	5.37299.39	1.52	84.91
Figures shown in bracket represent payable .Foreign currency sensitivityThefollowingtablesdemonstratethesensitivitytoaallothervariablesheldconstant.Theimpactontheliabilitiesincludingnon-designatedforeigncurrencyExposures is as follows:	reasonablypossiblechangeinUSD,Euro,Company'sprofitbeforetaxisduetoderivativesandembeddedderivatives.	GBP,CHFandchangesinthefairSensitivitydueto	AUDexchangevalueofmonetaryunhedgedForeign	rates,withassetsandExchange
Impact on profit before tax and equity- gain/ (loss)

Currency	Currency	30 Jun 21	31 Mar 21
	Symbol+2%	-2%	+2%	-2%
United States Doller	USD(130.40)	130.40	(79.49)	79.49
EURO	Euro3.93	(3.93)	2.27	(2.27)
Pound	GBP5.43	(5.43)	2.03	(2.03)
Swiss Franc	0.32CHF	(0.32)	0.08	(0.08)

Foreign currency sensitivity

Impact on profit before tax and equity- gain/ (loss)

Currency	Currency	30 Jun 21	31 Mar 21
	Symbol

20. Financial Risk Management Objectives And Policies

The Company's exposure to price risk of copper and aluminium arises from :

(iii) Commodity price risk Trade payables of the Company where the prices are linked to LME prices. Payment is therefore sensitive to changes in copper and aluminium prices quoted on LME. The provisional pricing feature (Embedded Derivatives) are classified in the balance sheet as fair value through profit or loss. The option to fix prices at future LME prices works as a natural hedge against the movement in value of inventory of copper and aluminium held by the Company. The Company also takes sell LME positions to hedge the price risk on inventory due to ongoing movement in rates quoted on LME. The Company applies fair value hedge to protect its copper and aluminium inventory from the ongoing movement in rates. Purchases of copper and aluminium results in exposure to price risk due to ongoing movement in rates quoted on LME affecting the profitability and financial position of the Company. The risk management strategy is to use the buy future contracts linked to LME to hedge the variation in cash flows of highly probable future purchases. There are no outstanding buy future contracts link to LME as of 30 June
- 2021 and 31 March 2021.

	Polycab India Limited	Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021
		Financial Risk Management Objectives And Policies
		The Company's exposure to price risk of copper and aluminium arises from :
		ongoing movement in rates.
		2021 and 31 March 2021.
		Sensitivity analysis for unhedged exposure for the period ended 30 June 2021 are as follows:
		Exposure of Company in Inventory		30 Jun 21			31 Mar 21
	Metal	Hedge instruments	Exposurein MetricTonne	Exposure in	Impact in Profit before tax -gain/ ( loss)	Exposure inMetricTonne	Exposure in	Impact in Profit beforetax -gain/ ( loss)
	Copper	Embedded derivative	1,445	1,016.59	+2%-2%(20.33)20.33	-	-	+2%-	-2%-
	Aluminium	Embedded derivative	1,490	305.34	(6.11)6.11	3,293	588.35	(11.77)	11.77
CreditTheofriskwhichlossTheas	riskistheriskCompanyisexposedCompanyhasitscounterpartieshasalwaysbeentheCompanymodeltoassessimpairmentlossesCompanyhasperthetermsofderecognisessuch	thatcounterpartywilltocreditriskfromitsbanks and financial institutions, foreign exchange transactions and other financial instruments.Trade receivables and contract assetsadoptedapolicyofonlyarecontinuouslymanagedthroughgrantscredittermsintheimpairmentlossontradereceivables.collection of amounts due from customers and default by the customers along with management's estimates.soldwithoutrecoursethecontracti.e.ifassetsupontransferof/ loss to the Company in the statement of profit and loss.	notmeetitsoperatingdealingwithmonitoredandcreditapprovals,thenormalorgain.TheECLhasbeentradereceivabletheCompanyfinancial	obligationsactivities(primarilycounterpartiestheaggregateestablishingcourseofbusiness.Companyhascomputedasunderchanneldoesnotretainassetsundersuch	underafinancialinstrumenttradereceivables)thathavesufficientvalueoftransactionscreditlimitsandOnaccountofappliedExpectedCreditapercentageofrevenuefinancearrangementanyriskandrewardsarrangementwiththe	orcustomerandfromitscreditrating.isreasonablycontinuouslymonitoringadoptionofIndLoss(ECL)onthebasisforprovidingorcontrolbanks.	contract,leadingfinancingactivities,ThespreadamongstthecreditAS109,themodelforofCompany'scredittoitsoverthefinancialDerecognitiondoes	toafinancialincludingexposureandthecounterparties.worthinessofCompanyusesmeasurementandhistoricaldatadealers.Evaluationassets,notresultin	loss.ThedepositswithcreditratingsCreditcustomerstoexpectedcreditrecognitionofofdelayinismadethentheentitysignificantgain
InTheTheCredit	certaincases,derecognisedfromamountreceivedcustomersremitcashcarryingamountriskarisingcollateralheldagainst	theCompanyhassoldthestatementoffinancialontransferhasbeendirectlytothebankoftradereceivablesfrominvestmentin	withrecourseposition,recognisedandthebankatthemutualfunds,	tradereceivablesbecausetheasafinancialreleasesthereportingdatethatderivativefinancial	toabankforCompanyretainsliability(Refernotelimitoffacilityusedbyhavebeentransferredinstrumentsand	cashproceeds.substantiallyallofthe9(B)).ThetheCompany.buthavenototherbalances	ThesetraderisksandarrangementwithThereceivablesbeenderecognisedwithbanksis	receivablesrewardsprimarilythebankisareconsideredandthe	havenotbeencreditrisk.suchthatthetobeheldassociated

Trade receivables and contract assets

The carrying amount of trade receivables at the reporting date that have been transferred but have not been derecognised and the associated collection of amounts due from customers and default by the customers along with management's estimates. Credit risk arising from investment in mutual funds, derivative financial instruments and other balances with banks is limited and there is no collateral held against these because the counterparties are banks and recognised financial institutions with high credit ratings assigned by the The Company's principle sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Company Further, the Company manages its liquidity risk in a manner so as to meet its normal financial obligations without any significant delay or stress. Such risk is managed through ensuring operational cash flow while at the same time maintaining adequate cash and cash equivalents position. The management has arranged for diversified funding sources and adopted a policy of managing assets with liquidity in mind and monitoring future cash flows and liquidity on a regular basis. Surplus funds not immediately required are invested in certain financial assets (including mutual funds) which

(C) Liquidity risk

believes that the working capital is sufficient to meet its current requirements.

Corporate guarantees given on behalf of Group Companies might affect the Liquidity of the Company if they are payable. However, the Company provide flexibility to liquidate at short notice and are included in current investments and cash equivalents. Besides, it generally has certain undrawn credit facilities which can be accessed as and when required, which are reviewed periodically. The Company has developed appropriate internal control systems and contingency plans for managing liquidity risk. This incorporates an

assessment of expected cash flows and availability of alternative sources for additional funding, if required.

has adequate liquidity to cover the risk. (Refer note 16(A))

Maturity Analysis

The table below summarises the maturity profile of the Company's financial liabilities based on contractual undiscounted payments.

		30 Jun 21			31 Mar 21
	< 1 year	> equal to1 year	Total	< 1 year	> equal to1 year	Total
Borrowings	652.90	-	652.90	918.81	-	918.81
Lease liability	134.82	281.95	416.77	135.35	271.85	407.20
Other financial liabilities	605.64	-	605.64	1,333.19	-	1,333.19
Trade payables	14,232.07	-	14,232.07	13,061.43	-	13,061.43
	15,625.43	281.95	15,907.38	15,448.79	271.85	15,720.63

The other financial liabilities includes contractual undiscounted value of financial guarantees provided to Ryker Base Pvt. Ltd. It also includes derivative liability, for maturity analysis refer note 21(B).

21. Hedging activity and derivatives

(A) Fair value hedge of copper and aluminium price risk in inventory (i) (B) Cash flow hedge associated with highly probable forecasted purchases of copper and aluminium: The Company enters into contracts to purchase copper and aluminium wherein the Company has the option to fix the purchase price based on LME price of copper and aluminium during a stipulated time period. Accordingly, these contracts are considered to have an embedded derivative that is required to be separated. Such feature is kept to hedge against exposure in the value of inventory of copper and aluminium due to volatility in copper and aluminium prices. The Company designates the embedded derivative in the payable for such purchases as the hedging instrument in fair value hedging of inventory. The Company designates only the spot-to-spot movement of the copper and aluminium inventory as the hedged risk. The carrying value of inventory is accordingly adjusted for the effective portion of change in fair value of hedging instrument. Hedge accounting is discontinued when the hedging instrument is settled, or when it is no longer qualifies for hedge accounting or when the hedged item is sold. To use the sell future contracts linked with LME to hedge the fair value risk associated with inventory of copper and aluminium. Once the purchases are concluded and its final price is determined, the Company starts getting exposed to price risk of these inventory till the time it is not been sold. The policy is to designate the copper and aluminium inventory which are already priced and which is not been sold at that point in time in a hedging relationship against sell LME future positions based on the risk management strategy of the Company. The To test the hedge effectiveness between embedded derivatives/derivatives and LME prices of copper and aluminium, the Company uses the said prices during a stipulated time period and compares the fair value of embedded derivatives/derivatives against the changes in fair value of The Company has established a hedge ratio of 1:1 for the hedging relationships as the underlying embedded derivative/derivative is identical to The Company has purchases of copper and aluminium which results in exposure to price risk due to ongoing movement in rates quoted on LME which affects the profitability and financial position of the Company. The risk management strategy is to use the Buy future contracts linked to LME to hedge the variation in cash flows of highly probable future purchases. The Company designate the monthly copper and aluminium purchases as a
- (ii) hedged risk is movement in spot rates.

Hedged item:

Hedging instrument:

	hedged risk is movement in spot rates.
	LME price of copper and aluminium attributable to the hedged risk.
	the LME price of copper and aluminium.
	Disclosure of effects of fair value hedge accounting on financial position:
Hedged item:	Changes in fair value of inventory attributable to change in copper and aluminium prices.
Hedging instrument:	Changes in fair value of the embedded derivative of copper and aluminium trade payables and sell future contracts, as described above.
	highly probable forecasted transaction in a hedging relationship based on the risk management strategy of the Company.
As at 30 June 21
	Commodity price risk	Asset	Carrying amountLiabilities	Equity	Maturitydate	Hedge Ratio	Balance sheetclassification	Effectiveportion ofHedge -gain/	Ineffectiveportion ofHedge -gain/ (
								( loss)	loss)
Fair Value Hedge
Hedged item	Inventory of Copperand aluminium	234.32	-	-		1:1	Inventory
	Highly probablefuture purchases	-	-	(12.77)		1:1	Cash flowhedgeReserve
	Embeddedderivative in tradepayables of Copperand aluminium	-	94.60	-	Rangewithin1 to 8months	1:1	Currentfinancialliabilities	(221.56)	(76.48)
Hedging instrument	Buy DerivativePosition	-	12.77	-		1:1	Currentfinancialliabilities
	Sell DerivativePosition	-	(405.40)			1:1	Currentfinancialliabilities
	The following table presents details of amounts held in effective portion of Cash Flow Hedge and the period during which these are going to be
	released and affecting Statement of profit and Loss -gain/ (loss)					As at 30 Jun 21Cash Flow hedge release to P&L
			Less than 3 Months	3 Months to 6 Months			6 Months to 12 Months		Total
Commodity Price risk
Buy Future Contracts- Copper			(5.18)	(0.33)			-		(5.51)
Buy Future Contracts- Aluminium			18.18	0.10			-		18.28
Sell Future Contracts- CopperSell Future Contracts- Aluminium			(265.68)(117.68)	-(22.04)			--		(265.68)(139.73)

		As at 30 Jun 21
		Cash Flow hedge release to P&L

Commodity Price risk
Buy Future Contracts- Copper
Buy Future Contracts- Aluminium
Sell Future Contracts- Copper
Sell Future Contracts- Aluminium

21. Hedging activity and derivatives

Polycab India LimitedHedging activity and derivatives	Notes to Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021


As at 31 March 2021			Carrying amount
	Commodity price risk	Asset	Liabilities	Equity	Maturitydate	Hedge Ratio	Balance sheetclassification	Effectiveportion ofHedge -gain/( loss)	Ineffectiveportion ofHedge -gain/ (loss)
Fair Value Hedge
Hedged item	Inventory of Copperand aluminium	896.65	-	-		1:1	Inventory
	Embeddedderivative in tradepayables of Copperand aluminium	-	(356.38)	-	Rangewithin	1:1	Currentfinancialliabilities	(896.65)	(116.66)
Hedging instrument	Buy DerivativePosition	-	23.62	-	1 to 6months	1:1	Currentfinancialliabilities
	Sell DerivativePosition	-	(680.55)			1:1	Currentfinancialliabilities
	The following table presents details of amounts held in effective portion of Cash Flow Hedge and the period during which these are going to be
	released and affecting Statement of profit and Loss -gain/ (loss)
						As at 31 Mar 21Cash Flow hedge release to P&L
			Less than 3 Months	3 Months to 6 Months			6 Months to 12 Months		Total
Commodity Price risk
Buy Future Contracts- Copper			(0.67)24.29	--		--			(0.67)24.29
			(397.91)		(173.78)	-			(571.69)
Buy Future Contracts- Aluminium			(82.32)		(26.06)		(0.48)		(108.86)
Sell Future Contracts- CopperSell Future Contracts- Aluminium		Management	Committeetoforeign	(RMC)tocurrencyforward,	frame,fluctuations.currencyincludesissued	implementandUndertheguidanceoptionsandfuturesequitycapital,	monitortheriskandframeworkcontractsinsecurities	managementprovidedwhichthepremiumandall	planofthebytheRMC,counterpartyisotherequity
TheBoardofDirectorsCompanywhichinter-aliatheCompanyusesgenerallyabank.For	hasconstitutedaRiskcoversrisksarisingvariousderivativeinstrumentsthepurposeofthereserves attributable to the equity shareholders. The primary objective is to maximise the shareholders value.	outofexposuresuchascapital	foreignexchangemanagement,	capital
TheCompanyhas	enteredintoderivativeoutstanding contracts and loss/(gain) on fair valuation of such contracts are given below:	instrumentsnot	inhedging	relationshipby	wayofforeign	exchange	forwardcontracts.	Thenotional	amountof
Foreign exchange forward contracts- BuyForeign exchange forward contracts- Sale								30 Jun 211,828.45(6.91)	31 Mar 213,150.01(457.25)
	Fair valuation gain on foreign exchange forward contracts							1,821.54(3.59)	2,692.76(31.37)

				1 to 6		CurrentfinancialliabilitiesCurrentfinancialliabilities
Hedging instrument	Buy DerivativePosition	-23.62	-	months	1:11:1
	Sell DerivativePosition	-(680.55)
		The following table presents details of amounts held in effective portion of Cash Flow Hedge and the period during which these are going to bereleased and affecting Statement of profit and Loss -gain/ (loss)
					As at 31 Mar 21
					Cash Flow hedge release to P&L
Commodity Price risk
Buy Future Contracts- Copper						-		(0.67)
Buy Future Contracts- Aluminium
Sell Future Contracts- Copper
	Sell Future Contracts- Aluminium
Foreign exchange forward contracts- BuyForeign exchange forward contracts- Sale		reserves attributable to the equity shareholders. The primary objective is to maximise the shareholders value.outstanding contracts and loss/(gain) on fair valuation of such contracts are given below:					30 Jun 211,828.45(6.91)1,821.54	31 Mar 213,150.01(457.25)2,692.76
Fair valuation gain on foreign exchange forward contracts							(3.59)	(31.37)
Events after the reporting periodof the Company requiring adjustment or disclosure.		During the quarter ended 30 June 20, the Company had received a favourable order from Honourable Income-Tax Appellate Tribunal for AY 2012-13 toNo significant adjusting event occurred between the balance sheet date and date of the approval of these financial statements by the Board of Directors

		30 Jun 21	31 Mar 21

23. Events after the reporting period

24. Others

As per our report of even date

For B S R & Co. LLP Chartered Accountants ICAI Firm Registration No. 101248W/W-100022

Bhavesh Dhupelia Partner Membership No. 042070

Place: Mumbai Date: 21 July 2021

AI assistant

Polycab India Limited — Interim / Quarterly Report 2022

61384_rns_2021-07-21_1ad87199-c140-442a-8195-b5369401da06.pdf

Scrip Code: 542652 Scrip Symbol: Polycab ISIN:- INE455K01017

Sub: Un-audited Interim Condensed (Standalone and Consolidated) Financial Statements for the quarter ended 30 th June 2021.

Company Secretary and Compliance Officer

30 June 2021 Unaudited Interim Condensed Consoldiated Financial Statements

Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

Unaudited Interim Condensed Consolidated Balance Sheet as at 30 June 21 Polycab India Limited

1. Corporate information

2. Summary of significant accounting policies

Basis of preparation

B) Use of estimates and judgements

C) Accounting policies

D) Estimation of uncertainties relating to global health pandemic from COVID-19

E) Recent pronouncement

3. Property, plant and equipment

6. Investment

Note : Silvan Acquisition:

9. Borrowings

(i) Rate of Interest is calculated at Weighted average rate of interest.

Notes:

(a) The above loans are secured by way of

(b) Movement in borrowing schedule for the period ended 30 June 2021

ECB Rupee loan Total As at 01 Apr 2020 251.29 204.76 456.05 Additions on account of acquisition 1,965.51 1,965.51 - Add: Proceeds - 33.47 33.47 Less: Repayments (769.82) (96.42) (866.24) Less: Foreign exchange loss 8.42 8.42 - As at 31 Mar 2021 1,455.40 141.81 1,597.21 B Borrowings- current

(a) The above loans are secured by way of

17. Related party disclosure

Polycab India Limited Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021

The Group is organised into business units based on its products and services and has three reportable segments as follows:

(B) Revenue by Geography

19. Financial Instruments and Fair Value Measurement

Fair value hierarchy

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at 30 June 2021 :

(A) Market Risk

(i) Interest rate risk

20. Financial Risk Management Objectives And Policies

Interest rate sensitivity

Derivative financial instruments

Foreign currency sensitivity

Impact on profit before tax and equity- gain/ ( loss)

20. Financial Risk Management Objectives And Policies

The Group's exposure to price risk of copper and aluminium arises from :

Trade receivables and contract assets

(C) Liquidity risk

Maturity Analysis

21. Hedging activity and derivatives

Hedged item:

Hedging instrument:

23. Events after the reporting period

24. Others

As per our report of even date For B S R & Co. LLP Chartered Accountants

Unaudited Interim Condensed Standalone Financial Statements

a

Polycab India Limited

Unaudited Interim Condensed Standalone Financial Statements for the period ended 30 June 2021

Unaudited Interim Condensed Standalone Balance Sheet as at 30 June 2021 Polycab India Limited

Unaudited Interim Condensed Standalone Statement of Profit & Loss for the period ended 30 June 2021

1. Corporate information

2. Summary of significant accounting policies

Basis of preparation

B) Use of estimates and judgements

C) Accounting policies

D) Estimation of uncertainties relating to global health pandemic from COVID-19

E) Recent pronouncement

3. Property, plant and equipment

5. Intangible assets

6. Investment

B Current Investments held for sale

9. Borrowings

(a) The above loans are secured by way of

(b) Movement in borrowing schedule for the period ended 30 June 2021

(a) The above loans are secured by way of

10. Trade payables

10. Trade payables

16. Contingent liabilities and commitments

Notes:

(B) Commitments

17. Related party disclosure

17. Related party disclosure

17. Related party disclosure

Polycab India Limited Interim / Quarterly Report 2022