Rallis India Ltd — Interim / Quarterly Report 2022

Jul 21, 2021

July 21, 2021

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001 Scrip Code: 500355

National Stock Exchange of India Limited Exchange Plaza Bandra-Kurla Complex Bandra (E) Mumbai – 400 051 Symbol: RALLIS

Dear Sir,

Sub: Outcome of the Board Meeting – July 21, 2021

Ref: Intimation under Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

This has reference to our letter dated July 13, 2021 giving Notice of the Board Meeting to consider and approve the financial results of the Company for the first quarter ended June 30, 2021.

Pursuant to Regulations 30 and 33 of the Listing Regulations, we wish to inform you that the Board of Directors at their Meeting held today has, inter alia, approved the Unaudited Standalone and Consolidated Financial Results of the Company for the first quarter ended June 30, 2021. In this regard, a copy of the said Financial Results together with the Limited Review Report is enclosed herewith.

These are also being made available on the website of the Company at www.rallis.co.in.

The Meeting of the Board of Directors held today commenced at 3.10 p.m. and concluded at 5.20 p.m.

The said results shall be published in one English and one vernacular newspaper as required.

You are requested to take the same on record.

Thanking you,

Yours faithfully, For Rallis India Limited

Yash Sheth Company Secretary

Encl: As above

Registered Office: 23rd Floor, Lodha Excelus, New Cuffe Parade, Off Eastern Freeway, Wadala, Mumbai – 400 037 Tel: +91 22 6232 7400 Website: www.rallis.co.in Corporate Identity No. L36992MH1948PLC014083

RALLIS INDIA LIMITED

Registered Office: 23rd Floor, Lodha Excelus at New Cuffe Parade, Off Eastern Freeway, Wadala, Mumbai 400037. PART I : CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE, 2021

					in Cr. )
		Quarter ended	Quarter ended	Quarter ended	Year ended
		30 June,	31 March,	30 June,	31 March,
	Particulars	2021	2021	2020	2021
		Unaudited	Audited	Unaudited	Audited
	1 Revenue from operations (net of rebates and discounts)	740.51	471.26	662.70	2,429.44
	2 Other income (net)	6.99	8.01	11.75	40.45
	3 TOTAL INCOME (1+2)	747.50	479.27	674.45	2,469.89
	4 EXPENSES
	a) Cost of materials consumed	372.04	374.72	349.37	1,407.55
	b) Purchase of stock-in-trade	39.32	30.03	23.54	136.59
	c) Changes in inventories of finished goods, work-in-progress and
	stock-in-trade	41.56	(128.63)	26.64	(68.93)
	d) Employee benefits expense	59.81	58.66	49.16	216.00
	e) Finance costs	0.93	1.05	1.97	5.21
	f) Depreciation and amortisation expense	18.49	14.80	17.92	64.07
	g) Other expenses	106.26	118.76	85.70	415.34
	TOTAL EXPENSES 4(a) to 4(g)	638.41	469.39	554.30	2,175.83
	5 PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3- 4)	109.09	9.88	120.15	294.06
6	Exceptional items	-	1.68	-	9.45
	7 PROFIT BEFORE TAX (5+6)	109.09	11.56	120.15	303.51
	8 Tax expenses	26.75	3.44	28.28	74.93
	9 NET PROFIT FOR THE PERIOD (7-8)	82.34	8.12	91.87	228.58
	Attributable to:
	Shareholders of the Company	82.34	8.12	91.87	228.58
	Non Controlling Interest	-	-	-	-
	10 Other comprehensive income	(3.40)	0.69	1.67	1.40
	Items that will not be reclassified to profit or loss	(4.53)	0.98	2.05	1.76
	Income tax relating to items that will not be reclassified to profit
	or loss	1.11	(0.24)	(0.48)	(0.43)
	Items that will be reclassified to profit or loss	0.02	(0.05)	0.10	0.07
	11 TOTAL COMPREHENSIVE INCOME (9 + 10)	78.94	8.81	93.54	229.98
	Attributable to:
	Shareholders of the Company	78.94	8.81	93.54	229.98
	Non Controlling Interest	-	-	-	-
	12 Paid up equity share capital
	1 per share)	19.45	19.45	19.45	19.45
	13 Other equity				1,572.04
14		4.23	0.42	4.72	11.75
	See accompanying notes to the consolidated financial results

Notes :

• 1 The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 21 July, 2021. The statutory auditors have expressed an unqualified review opinion.
• 2 Financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time.
• 3 The business of the Company and its subsidiary (the "Group") is seasonal in nature and the performance can be impacted by weather conditions and cropping pattern.
• 4 The Company and its subsidiaries has one reportable business segment viz. "Agri-Inputs".
• 5 During the year ended 31 March 2021, PT Metahelix Lifes Sciences Indonesia, a subsidiary of the Company, received approval for the cancellation of its Company Registration Number and revocation of its business license w.e.f. 19 March 2021. Further, an application for cancellation of its Tax Identification Number has been made and the approval for the same is awaited.
• 6 Exceptional item (as disclosed in the column ("Quarter ended 31 March, 2021 and Year ended 31 March, 2021) comprises profit on sale of flats (net of costs).
• 7 The figures for quarter ended 31 March, 2021 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto nine months ended 31 December, 2020. Also the figures upto the end of the third quarter had only been reviewed and not subjected to audit.
• 8 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its valuation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.
• 9 The results of the Company are available for investors at www.rallis.co.in, www.nseindia.com and www.bseindia.com.

For B S R & Co. LLP For and on behalf of Chartered Accountants Rallis India Limited Firm's Registration No: 101248W/W-100022

Tarun Kinger SANJIV LAL Mumbai Mumbai 21 July, 2021 21 July, 2021

Partner Managing Director & CEO

Chartered Accountants

Limited review report on unaudited quarterly consolidated financial results under Regulation 33 of the SEBI (Listing Obligations and Disclosure Regulations) Regulations, 2015

To the Board of Directors of Rallis India Limited

• 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Rallis India Limited ('hereinafter referred to as 'the Holding Company') and its subsidiary (the Holding Company and its subsidiary together referred to as "the Group") for the quarter ended 30 June 2021 ("the Statement"), being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
• 1. This Statement, which is the responsibility of the Holding Company's management and approved by the Holding 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 and in compliance with Regulation 33 of the Listing Regulations. 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 Listing Regulations, to the extent applicable.

1. The Statement includes the results of the following entities:

Name of the Entity	Relationship
PT Metahelix Life Sciences Indonesia	Subsidiary

1. Attention is drawn to the fact that the figures for the 3 months ended 31 March 2021 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 Registered Office:

Limited review report on unaudited quarterly consolidated financial results under Regulation 33 of the SEBI (Listing Obligations and Disclosure Regulations) Regulations, 2015 (Continued)

Rallis India 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 and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. The Statement includes the financial information of subsidiary which has not been reviewed, whose financial information reflect total revenue of Rs Nil and total net loss after tax of Rs 0.08 crores and total comprehensive income of Rs 0.02 crores for the quarter ended 30 June 2021 as considered in the Statement. According to the information and explanations given to us by the management, these financial information are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

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

Tarun Kinger Partner Mumbai Membership No: 105003 21 July 2021 UDIN: 21105003AAAADD5679

RALLIS INDIA LIMITED

Registered Office: 23rd Floor, Lodha Excelus at New Cuffe Parade, Off Eastern Freeway, Wadala, Mumbai 400037. PART I : STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE, 2021

				(in Cr. )
	Quarter ended	Quarter ended	Quarter ended	Year ended 31
	30 June,	31 March,	30 June,	March, 2021
	2021	2021	2020
Particulars
	Unaudited	Audited	Unaudited	Audited
1 Revenue from operations (net of rebates and discounts)	740.51	471.25	662.70	2,429.43
2 Other income (net)	6.98	8.01	11.75	40.44
3 TOTAL INCOME (1+2)	747.49	479.26	674.45	2,469.87
4 EXPENSES
a) Cost of materials consumed	372.04	374.72	349.37	1,407.55
b) Purchase of stock-in-trade	39.32	30.03	23.54	136.59
c) Changes in inventories of finished goods, work-in-progress and	41.56	(128.63)	26.64	(68.93)
stock-in-trade
d) Employee benefits expense	59.81	58.66	49.16	216.00
e) Finance costs	0.93	1.05	1.97	5.21
f) Depreciation and amortisation expense	18.49	14.80	17.92	64.07
g) Other expenses	106.17	118.65	85.70	415.23
TOTAL EXPENSES 4(a) TO 4(g)	638.32	469.28	554.30	2,175.72
5 PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3 - 4)	109.17	9.98	120.15	294.15
6 Exceptional items	-	1.68	-	9.45
7 PROFIT BEFORE TAX (5 - 6)	109.17	11.66	120.15	303.60
8 Tax expenses	26.75	3.44	28.28	74.93
9 NET PROFIT FOR THE PERIOD (7 - 8)	82.42	8.22	91.87	228.67
10 Other Comprehensive Income	(3.43)	0.73	1.57	1.32
Items that will be reclassified to profit or loss	-	-	-	-
Items that will not be reclassified to profit or loss	(4.54)	0.97	2.05	1.75
Income tax relating to items that will not be reclassified to	1.11	(0.24)	(0.48)	(0.43)
profit or loss
11 TOTAL COMPREHENSIVE INCOME (9 + 10)	78.99	8.95	93.44	229.99
12 Paid up equity share capital	19.45	19.45	19.45	19.45
(Face value1 per share)
13 Other equity				1,571.92
14 Basic and diluted earnings per share (in )	4.24	0.42	4.72	11.76
See accompanying notes to the standalone financial results

Notes :

• 1 The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 21st July, 2021. The statutory auditors have expressed an unqualified review opinion.
• 2 Financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time.
• 3 The Company's business is seasonal in nature and the performance can be impacted by weather conditions and cropping pattern.
• Quarter ended 4 The Company has one reportable business segment viz. "Agri-Inputs".
• 5 Exceptional item (as disclosed in the column ("Quarter ended 31 March, 2021 and Year ended 31 March, 2021) comprises profit on sale of flats (net of costs).
• 6 The figures for quarter ended 31 March, 2021 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto nine months ended 31 December, 2020. Also the figures upto the end of the third quarter had only been reviewed and not subjected to audit.
• 7 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its valuation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.
• 8 The results of the Company are available for investors at www.rallis.co.in, www.nseindia.com and www.bseindia.com.

For B S R & Co. LLP For and on behalf of Chartered Accountants Rallis India Limited Firm's Registration No: 101248W/W-100022

Tarun Kinger SANJIV LAL Mumbai Mumbai

Partner Managing Director & CEO 21 July, 2021 21 July, 2021

Chartered Accountants

Limited review report on unaudited quarterly standalone financial results under Regulation 33 of the SEBI (Listing Obligations and Disclosure Regulations) Regulations, 2015

To the Board of Directors of Rallis India Limited

• 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Rallis India Limited for the quarter ended 30 June 2021("theStatement").
• 1. This Statement, which is the responsibility of the Company's management and approved by the 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 and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. previous financial year had only been reviewed and not subjected to audit.
• 1. Attention is drawn to the fact that the figures for the 3 months ended 31 March 2021 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of
• 1. 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 and other recognised 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 including the manner in which it is to be disclosed, or that it contains any material misstatement.

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

Registered Office:

Tarun Kinger Partner Mumbai Membership No: 105003 21 July 2021 UDIN: 21105003AAAADE6611

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063