Pritish Nandy Communications Ltd — Interim / Quarterly Report 2022

Aug 11, 2021

T he Genera] Manager

Department of Corporate Services Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 00 I Sc rip Code - 532387

The Ma nager

Listi ng Depanment National Stock Exchange Limited Exchange Plaza, C-l . Block G Bandra Kurla Complex Bandra (East) Mumbai 400 OS I Sc rip Code - PNC

August 11.2021 "

Dear Sir,

Sub: Outcome of Board Meeting held on August 11,2021

Ref: Unaudited Financial Results (Standalone and Consolidated) wilh limiled review report - Regulation 30 and 33 of SEDI (Listing Obligations and Disclosure Requirements) Regulations, 2015

•

Pursuant to Regulation 33 read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the following documents were considered and approved and taken on record:

• I. The Unaudited financial resul ts (Standa lone and Consolidated) prepared in accordance with Regulation 33 of SEBI (LODR) Regulations, 201 5 for the quaner ended June 30, 2021 by the Board of Directors al the meeting held on August 11 , 2021 (Attached).
• 1. The Limited rev iew repon (Standalone and Consolidated) on the unaudited financ ial results for the quarter ended June 30, 202 1 in the fonnat prescribed under the SEBI (LODR) Regulations, 2015 (Attached).

NANOY COMMUNICATIONS LTO CIN L22120MH1993PlC074214 MUMBAI4oo021 INDIA CALL 9122 42130000 VISIT WWW.PRITISHNANOYCOMCOM

PRITISH NANDYCOMMUNICATIONS

Pritish Nandy Communications Ltd CIN L22120MH1993PLCO74214 Regd Office: 87/88 Mittal Chambers Nariman Point Mumbai 400 021

		QUARTER ENDED			STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021In $\bar{x}$ lakhYEAR ENDED
	PARTICULARS	June 30, 2021(Unaudited)	March 31, 2021(Audited)	June 30, 2020(Unaudited)	March 31, 2021(Audited)
	Revenue from operations	88.30	437.15	1.81	774.96
Ш	Other income	8.55	18.99	21.18	84.28
Ш	Total income (I+II)	96.85	456.14	22.99	859.24
IV	Expensesa) Cost of content	80.51	366.12		607.01
	b) Changes in unamortised/ unexploited/ unfinished content	2.28	21.75	25.94	76.39
	c) Employee benefits expense	41.55	54.73	28.40	135.22
	d) Finance cost	6.05	5.82	12.36	34.09
	e) Depreciation and amortisation expense	6.71	6.53	6.86	27.24
	f) Advances written off				339.26
	g) Other expense	29.45	58.84	44.88	210.17
	Total expenses (IV)	166.55	513.79	118.44	1,429.38
V	Profit/ (loss) before tax (III-IV)	(69.70)	(57.65)	(95.45)	(570.14)
Vī	Tax expense
	Current tax
	Deferred tax	(0.04)	(13.32)	(12.78)	(34.62)
	(Excess)/ short provision for tax relating to earlier year		(0.96)		(0.96)
	Total tax expense (VI)VII Net profit/ (loss) for the period (V-VI)	(0.04)	(14.28)	(12.78)	(35.58)
VIII	Other comprehensive income (net of tax)	(69.66)	(43.37)	(82.67)	(534.58)
	i) Items that will not be reclassified to profit or loss	0.85	7.60	(1.50)	3.10
	ii) Income tax relating to items that will not be reclassified to
	profit or loss
	Total other comprehensive income (VIII)	0.85	7.60	(1.50)	3.10
$\mathsf{I}$	Total comprehensive income for the period (VII-VIII)	(68.81)	(35.77)	(84.17)	(531.46)
χ	Paid-up equity share capital (Face Value of ₹ 10 per share)	1,446.70	1,446.70	1,446.70	1,446.70
XI	Reserves excluding revaluation reserves				6,302.61
XII	Earning per share (EPS) (Face Value of ₹ 10 per share)
	Basic and diluted EPS	(0.48)	$(0.30)^*$	$(0.57)$ *	(3.70)
	*Not annualised
	STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021				In $\bar{\tau}$ lakh
			QUARTER ENDED		YEAR ENDED
	PARTICULARS	June 30, 2021(Unaudited)	March 31, 2021(Audited)	June 30, 2020(Unaudited)
	Revenue from operations	88.30	437.15	1.81
	Other income	8.55	26.56	21.18
	Total income (I+II)	96.85	463.71	22.99
	Expenses
11.IIIIV	a) Cost of content	80.51	366.12
	b) Changes in unamortised/ unexploited/ unfinished content	2.28	21.75	25.94
	c) Employee benefits expense	41.55	54.73	28.40
	d) Finance cost	6.05	5.82	12.36
	e) Depreciation and amortisation expense	6.71	6.53	6.86
	f) Advances written off
	g) Other expense	29.52	44.48	30.42
	Total expenses (IV)	166.62	499.43	103.98
	Profit/ (loss) before tax (III-IV)Tax expense	(69.77)	(35.72)	(80.99)
	Current tax
۷VI	Deferred tax	(0.04)	(10.15)	(8.39)
	(Excess)/ short provision for tax relating to earlier year		(0.96)
	Total tax expense (VI)	(0.04)	(11.11)	(8.39)
	VII Net profit/ (loss) for the period (V-VI)	(69.73)	(24.61)	(72.60)
	Attributable to
	Equity holders of the parent company	(69.73)	(24.63)	(72.60)
	Non controlling interests		0.02
	VIII Other comprehensive income (net of tax)
	i) Items that will not be reclassified to profit or loss	0.85	7.60	(1.50)
	ii) Income tax relating to items that will not be reclassified to
	profit or loss		7.60	(1.50)
	Total other comprehensive income (VIII)Total comprehensive income for the period (VII-VIII)	0.85(68.88)	(17.01)	(74.10)
	Attributable to
	Equity holders of the parent company	(68.88)	(17.03)	(74.10)
	Non controlling interests		0.02
IX	Paid-up equity share capital (Face Value of ₹ 10 per share)	1,446.70	1,446.70	1,446.70
	Reserves excluding revaluation reserves
	Earning per share (EPS) (Face Value of ₹ 10 per share)
	Basic and diluted EPS*Not annualised	$(0.48)$ *	$(0.17)^*$	$(0.50)^*$	March 31, 2021(Audited)774.9691.85866.81607.0176.39135.2234.0927.24339.26152.521,371.73(504.92)(19.49)(0.96)(20.45)(484.47)(484.49)0.023.103.10(481.37)(481.39)0.021,446.706,179.79(3.35)

AUNIC

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PRITISH NANDY COMMUNICATIONS

Pritish Nandy Communications Ltd CIN L22120MH1993PLCO74214 Regd Office: 87/88 Mittal Chambers Narlman Point Mumbal 400 021

SEGMENT REPORTING FOR THE QUARTER ENDED JUNE 30, 2021
	QUARTER ENDED			YEAR ENDED
PARTICULARS	June 30, 2021(Unaudited)	March 31, 2021(Audited)	June 30, 2020(Unaudited)	March 31, 2021(Audited)
Segment revenuei. Content segmentii. Wellness segment	88.30	437.15	1.81	774.96
Revenue from operation	88.30	437.15	1.81	774.96
Segment resultsProfit/ (loss) before tax from each segmenti. Content segmentii. Wellness segment	(72.21)(0.06)	(56.34)(0.13)	(89.74)(0.07)	(562.33)(0.35)
Total profit/ (loss) before tax	(72.27)	(56.47)	(89.81)	(562.68)
Add: Other incomeLess: Finance cost	8.55(6.05)	26.56(5.82)	21.18(12.36)	91.85(34.09)
Profit/ (loss) before tax	(69.77)	(35.73)	(80.99)	(504.92)
Less: Current taxLess: Deferred taxLess: (Excess)/ short provision for tax relating to earlier year	(0.04)	(10.15)(0.96)	(8.39)	(19.49)(0.96)
Profit/ (loss) after tax	(69.73)	(24.62)	(72.60)	(484.47)
Segment assetsi. Content segmentii. Wellness segment	9,320.6352.65	9,357.4452.65	10.229.5852.61	9,357.4452.65
Total segment assets	9,373.28	9,410.09	10,282.19	9,410.09
Segment liabilitiesi. Content segmentii. Wellness segment	1,815.360.31	1,783,350.25	2.248.040.35	1.783.350.25
Total segment liabilities	1,815.67	1,783.60	2,248.39	1,783.60
Capital employedI. Content segmentii. Wellness segment	7,505.2752.34	7,574.0952.40	7,981.5452.26	7,574.0952.40
Total segment capital employed	7,557.61	7,626.49	8,033.80	7,626.49

Notes:

clif

Kishor Palkar

Chief Financial Officer

Mumbai, August 11, 2021

OMMAL

MUMB

1. The above results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on August 11, 2021 and limited review of the same

2. The above results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on August 11, 2021 and limited review of the samehas been carried out by the Statutory A

provision for diminution in value of investment, which is considered temporary, has been made in the accounts. 8. There are no exceptional and extra ordinary llems. 7. The Company and one subsidiary PNC Digital Ltd opera

Yatender Verma VP/ Financ Compliances and Legal Affairs

Jantos NW. COM Santosh Gharat e Officere Al Company Secretary and Cont ₩ ž $\mathcal{A}$

Pallab Bhattacharya time Director and CEO

For more details, contact Yatender Verma at verma@pritishnandycom.com

Limited Review Report On Quarterly Standalone Financial Results and Year to Date Results of Pritish Nandy Communications Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To The Board of Directors Pritish Nandy Communications Limited Mumbai

We have reviewed the accompanying statement of unaudited standalone financial results ('Statement') of Pritish Nandy Communications Limited ("the Company") for the quarter ended 30th June, 2021 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with applicable accounting standards i.e. Ind AS prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended,including the manner in which it is to be disclosed, or that it contains any material misstatement.

We draw your attention relating to:

a. Note 2 which describes the impact of COVID-19 pandemic on the operations of the Company

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8 – Ambalal Doshi Marg, Fort, Mumbai – 400 001. INDIA Tel. : + 91 -22 - 22654882 / 22651737 Fax : + 91 – 22 – 22657093 Email : bdj@bdjokhakar.com Website : www.bdjokhakar.com

• b. Note 3 which states about an award of Rs 352 lakh plus interest of Rs 35 lakhs received by the Company in its favour in the arbitration case filed against White Feather Films (Proprietor Sanjay Gupta). White Feather Films has gone in appeal against the above said award. The court has directed the proprietor not to dispose off/create any third party rights on his properties which are valued at Rs 1200 lakh. Proceedings are ongoing and in view of the same outstanding of Rs. 317.53 lakhs is considered as fully recoverable and consequently there is no provision made of any amount there against.
• c. Note 4 which states about proceedings initiated by the Company for recovery of advances of Rs 150.00 lakh. Proceedings are ongoing before the Bombay High Court and management considers the same as good and fully recoverable and consequently there is no provision made of any amount there against for the reasons stated in the said note.
• d. Note 5 which describes about the investment in subsidiary "PNC Digital Ltd." stands at Rs. 70.20 lakhs whereas the net worth of the subsidiary is eroded substantially. No provision for diminution in value of investment, which is considered temporary, has been made in the accounts for the reasons stated in the said note.

Our opinion is not modified in respect of the above matters

For B. D. Jokhakar & Co. Chartered Accountants Firm Registration No. 104345W

Pramod S Prabhudesai Partner Membership No. 032992 UDIN:21032992AAAAEK3144

Place: Ratnagiri Date: 11thAugust, 2021

B. D. Jokhakar & Co. Chartered Accountants

Limited Review Report On Consolidated Unaudited Quarterly and Year to Date Financial Results of Pritish Nandy Communications Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To The Board of Directors M/s. Pritish Nandy Communications Limited Mumbai

• 1. We have reviewed the accompanying statement of consolidated unaudited financial results ('Statement') of M/s. Pritish Nandy Communications Limited ("the Company") and its subsidiaries (the Company and its subsidiaries together referred to as "the Group") for the quarter ended 30th June, 2021 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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

8 – Ambalal Doshi Marg, Fort, Mumbai – 400 001. INDIA Tel. : + 91 -22 - 22654882 / 22651737 Fax : + 91 – 22 – 22657093 Email : bdj@bdjokhakar.com Website : www.bdjokhakar.com

• 1. This Statement includes the results of the following entities ("subsidiaries"):
  • (a) PNC Digital Limited
  • (b) PNC Wellness Limited
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

6. We draw your attention relating to:

• a. Note 2 which describes the impact of COVID-19 pandemic on the operations of the Group.
• b. Note 3 which states about an award of Rs 352 lakh plus interest of Rs 35 lakhs received by the Company in its favour in the arbitration case filed against White Feather Films (Proprietor Sanjay Gupta). White Feather Films has gone in appeal against the above said award. The court has directed the proprietor not to dispose off/create any third party rights on his properties which are valued at Rs 1200 lakh. Proceedings are ongoing and in view of the same outstanding of Rs. 317.53 lakhs is considered as fully recoverable and consequently there is no provision made of any amount there against.
• c. Note 4 which states about proceedings initiated by the Company for recovery of advances of Rs 150.00 lakh. Proceedings are ongoing before the Bombay High Court and management considers the same as good and fully recoverable and consequently there is no provision made of any amount there against for the reasons stated in the said note.

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

For B. D. Jokhakar & Co. Chartered Accountants Firm Registration No: 104345W

Pramod S Prabhudesai

Place: Ratnagiri Partner Date: 11th August, 2021 Membership No. 032992 UDIN: 21032992AAAAEL3612

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The General Manager Department of Corporate Services Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 Scrip Code - 532387

The Manager

Listing Department National Stock Exchange Limited Exchange Plaza, C·I , Block G Bandra Kurla Complex Band .. (East) Mumbai 400 051 Scrip Code - PNC

August 11. 2021

Dear Sir,

Sub: Statement ofdcclaration of unmodified opin ion on the financial rcsuhs by the Statutory auditor for the quarter ended June 30, 2021

Declaration on unmodified opinion:

I, Santosh Gharal, Company Secretary and Compliance Officer of the Company hereby declare that. the Statutory Auditors afCompany. SO l okhakar & Co., Chartered Accountants, have issued auditors' report with unmodified opinion on annual audited financia l results of (he Company (Standalone and Consolidated) for the quarter ended June 30, 2021

Kindly take the same inlo your records.