Ramco Industries Ltd — Interim / Quarterly Report 2021

Feb 2, 2021

Ramco Industries Limited

Auras Corporate Centre, 6th Floor, 98-A, Dr. Radhakrishnan Road, Mylapore, Chennai 600 004. India REF/SEC/SE/No.FR/Q3/2020-21 44 2847 8585 / 4298 3100, Fax +91 44 2847 8597. www.ramcoindltd.com 2nd February, 2021

National Stock Exchange of India Ltd. Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 Scrip Code: RAMCOIND EQ BSE Limited Floor 25, "P.J.Towers", Dalal Street, Mumbai - 400 001 Scrip Code: 532369

Dear Sirs,

Sub: Intimation of Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended 31.12.2020 and Limited Review Reports of the Auditors thereon.

As required under Regulation 33(3)(a) and (b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 [LODR], we enclose the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended 31.12.2020, as approved by the Board of Directors at their meeting held today (2.2.2021).

We also enclose copies of the Limited Review Reports given by the Auditors on the Unaudited Standalone and Consolidated Financial Results for the Quarter and nine months ended 31.12.2020, in compliance with Regulation $33(2)(c)$ of LODR.

We also enclose a copy of the Unaudited Consolidated Financial Results for the quarter and nine months ended 31.12.2020, being published in newspapers in compliance of Regulation 47(1)(b) of LODR.

In accordance with Point No: A - 4 of Annexure I of SEBI Circular No: CIR/CFD/CMD/4/2015 dated September 09, 2015, we wish to inform the following:

Time of commencement of the Board Meeting : 4.00 PM Time of completion of the Board Meeting $: 6.15$ PM

Thanking you

Yours faithfully For Ramco Industries Limited

Bala

S. Balamurugasundaram Company Secretary and Legal Head

Encl.: as above

RAMCO INDUSTRIES LIMITED

Regd. Office: 47, P.S.K,Nagar, Rajapalayam 626 108,

Corporate Office: "Auras Corporate Centre", 98-A, Dr. Radhakrishnan Road, Mylapore, Chennai-600 004.

CIN: 126943TN1965P1C005297 ; WEBSITE: www,ramcoindltd.com

STATEMENT OF UN.AUDITED STANDALONE FINANCIAL RESULTS FOR NINE MONTHS PERIOD / QUARTER ENDED 31.12.2020

Rs. ln lakhs

			STANDALONE
Particulars			QUARTER ENDED			NINE MONTHS ENDED	YEARENDED
			$.1.,i32.ffi20	30.09.2020	31.12,2019	s .iil?18oa-n	31.12.2019	31,03.2020
			iu:tI"a*d:iHd	Un-audited	Un-audited	:tjn,r$u$fod	Un-audited	Audited
1		IINCOMEI
	a	lSale of ProductsI	23.;$.S5	19,859	15,593	I.i.Fo.lma	61,878	80,776
	b	Operating lncomelOther	l.i,l',liSSI	699	407	.i:i:i:il,ll;f	1,423	1,955
	c	llncome from Operations (a+b)	I4i5g2	20,558	16,000	fEi:M$	63,301	82,631
	d	IOther lncome	,.,lfl.;	1,449	1,146	:i.i:,il:js$$	3,896	5,342
	e	Total lncome (c + d)	26,076	22,007	17,146	fSliSS::{	67,197	87,973
2		EXPENSES
	a	Cost of Materials Consumed	.,1.3;$ST	11,417	8,321	33:l-fiS,{:	31,781	42,521
	b	Purchase of Stock ln Trade		1	26	t:l:i ::i:,. i.l iii,i,ii	65	100
	c	Changes in lnventories of Finished Goods, Work-inProgress & Stock in Trade	l''llfi(.1.''.3,33}l	(1,734)	(1,650)	,;;$;,iif0	(e48)	(2,196)
	d	Employee Benefits Expenses	:: :: : :r: :' :i": l:,' :: :l :r :i :i ,: ::	2,290	2,194	,.F,i3,1.5	6,673	9,1 53
	e	Finance Costs	',3i8,fim.	209	359		1,106	1,460
	f	Depreciation and Amortisation Expenses	'i,ri'iii2Sn.t,:ll.':l::ilF0B:	691	647	.,''.,"i,r$$,ii2l:sng	1,930	2,577
	g	Other expenses	Si4fE	5,397	6,034	$.$'.;$f8	19,202	25,730
		Total Expenditure	21,806	18,271	15,921	$3,019	59,809	79,355
3		Profit from Operations Before Exceptional items and Tax(1-2)	4 Er.$	3,736	1,225	flfi,Sse	7,388	8,619
4		Exceptional ltems (loss) / gain			102		506	506
5		Profit from Ordinary Activities Before Tax (3+4)	*;rffi0	3,736	1,327	*iili$tr	7,894	9,124
6		Tax Expense
		Current Tax	I.i1s4	961	199	,;i$$	1,529	1,699
		Deferred Tax	,.,.i,fiS?	66	280	,,,r. 4tr	791	874
7		Net Profit from ordinary activities after Tax (5-O)	ai:fi59	2,709	848		5,575	6,552
I		Other Comprehensive lncome / (loss) (net of tax)	i.:i$.i:0	(43)	678	8.;Sfi'T.'r.i:i*5$	667	(640)
I		Total Comprehensive lncome (after tax) for the period(7+8)	lttiliSS	2,666	1,526	10,02s	6,242	5,912
1011		Paid up Equity Share Capital (face value-Re.1 each)Other Equity	.8S7	867	867	$6f	867	86777,6A4
12		Basic&Diluted Earnings Per Share of Re.1l each -in Rs.
		Based on Net profit for the period (Not annualised)	$;,$0	313	098	i:g,i8S	643	7.56
		L

UN-AUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

			STANDALONE
	Particulars			QUARTER ENDED		NINE MONTHS ENDED	YEARENDED
			31.12.2020Un-audited	30.09.2020Un-audited	31.12.2019Un-audited	31.12.2020Un-audited	31.12.2019Un-audited	31.03.2020Audited
1		Segment Revenue / Income:
	a	Building Products	19,894	16,480	13,650	62,077	53,411	68,402
	b	Textiles	4,064	3,382	1,946	8,734	8,507	12,416
	C	Windmills	291	610	195	1,282	1,349	1,559
	d	Unallocated	643	621	435	1,604	1,215	1,640
		TOTAL	24,892	21,093	16,226	73,697	64,482	84,017
		Less: Inter-segment Revenue	300	535	226	1,151	1,181	1,386
		Net Sales / Income from Operations	24,592	20,558	16,000	72,546	63,301	82,631
$\overline{c}$		Segment Results Profit (+) Loss (-) Before tax and
		Finance Costa Building Products
	b	Textiles	2,634207	1,960	584	9,404	4,152	4,206
	$\mathsf{C}$	Windmills	147	(171)457	(101)54	(215)840	13906	(1)981
	d	Unallocated
		Total	2,988	2,246	537	10,029	5,071	5,186
		Less: Finance Cost	201	209	359	755	1,106	1,460
		Add: Un-allocable income net off unallocable expenditure	1,483	1,699	1,149	3,288	3,929	5,398
		Total Profit before Tax	4,270	3,736	1,327	12,562	7,894	9,124
3		Segment Assets
	a	Building Products	62,669	60,134	60,094	62,669	60,094	65,172
	b	Textiles	15,584	15,169	14,866	15,584	14,866	15,951
	C	Windmills	1,396	1,509	1,554	1,396	1,554	1,478
		d Unallocated	47,050	44,410	41,769	47,050	41,769	43,563
		TOTAL	1,26,699	1,21,222	1,18,283	1,26,699	1,18,283	1,26,164
4		Segment Liabilities
	a	Building Products	11,791	12,315	10,607	11,791	10,607	12,818
	b	Textiles	5,586	5,186	4,180	5,586	4,180	5,311
	C	Windmills	179	170	154	179	154	174
		d Unallocated	20,646	19,223	24,107	20,646	24,107	29,390
		TOTAL	38,202	36,894	39,048	38,202	39,048	47,693

$\frac{1}{2}$

$\Lambda$

Notes:

• 1 The above un-audited standalone financial results were reviewed by the Audit committee and approved by the Board of Directors at its lVeetings held on 02.02.2021.The statutory Auditors have carried out a limited review ofthe above results.
• 2 The company's business operation comprises of multiple operating segments viz., Building Products, Textiles and Windmills.
• 3 As per Section 1158AA in the lncome Tax Act, 1961, the Company has an irrevocable option of shifting to a lower tax rate and simultaneously forgo certain tax incentives, deductions and accumulated [,4AT credit. The Company has not exercised this option for the financial year 2020-21 in view ofthe benefits available under the existing tax regime.
• 4 The Indian Parliament has approved the Code on Social Security, 2020 ("the Code"), which, inter alia, deals with employee benefits during employment and post-employment. The Code has been published in the Gazette of India. The effective date of the Code is yet to be notilied and the rules for quantifying the financial impact are also yel to be issued. ln view of this, the impact of the change, if any, will be assessed and recognised post notilication ofthe relevant provisions.
• 5 The previous period figures have been re-grouped / restated wherever considered necessary.

For Ramco lndustries Limited

tr,/l'lc^

Chennai 02-02-2A21

P.V.ABINAV RAMASUBRAMANIAM RAJA MANAGING DIRECTOR

RAMCO IIIIDUSTRIES LIMITED

Regd. ffice: 47, P.S.K.Nagar, Rajapalayam 626108.

Corporate Office: "Auras Corporate Centre",98-A, Dr. Radhakrishnan Road, Mylapore, Chennai-600 004.

CIN: 126943TN1965P1C005297 ; WEBSITE: www.ramcoindttd.com

STATEMENT OF UN.AUDITED CONSOLIDATED FII{ANCIAL RESULTS FOR NINE MONTHS PERIOD / QUARTER ENDED 31.12-2020

Rs. ln lakhs

			CONSOLIDATED
Particulars				QUARTER ENDED		NINE MONTHS ENDED		YEARENDED
			f;:l.t,ifi;ffit0.t.n#6diidd:	30.09.2020Un-audited	31.12.2A19Un-audited	5.$.l'iil2.;f;0fl0,Un*atidi&d,	31.12.2019Un-audited	31.03.2020Audited
1		INCOME
	a	Sale of Products	3E.,384	26,065	19,94 0	gS.t,ffi	74,041	97,1 90
	b	Other Operating lncome	{6}	79	(28)	l,.,tt',114{	208	215
	c	lncome from Operations (a+b)	3u;.3 8	26,144	19,921	86;:, 89	74,249	97,405
	d	Other lncome	'l:,ll.l.:[., ,1	320	341	,l,lill.:.:.::$8i.	2,477	4,089
	e	Total lncome (c + d)	30;56$	26,464	20,262	87,S63	76,726	1,01 ,493
2		EXPENSES
	a	Cost of Materials Consumed		15, 055	10,419	*[l3fi7	38,443	51,431
	b	Purchase of Stock ln Trade	,{.si6?3l';,.:,:,.1::.,;;,,1: .,;;2	1	30	I	72	108
	C	Changes in lnventories of Finished Goods, Work-inProgress & Stock in Trade	: :ii::: : r:l::: ::: I ::::.::: :{:I.;,aeO}	(1,834)	(1,408)	: .'', .l:lillil.u,'i.;s;.$ $	(1,028)	(2,251)
	d	Employee Benefits Expenses	$4.	2,598	2,484		7,522	10,330
	e	Finance Costs	.,,$.;l,li1.1,;2S?	211	361	,E.;ffi	1,112	1,469
	f	Depreciation and Amortisation Expenses		823	778	.:i.li.l.1ir$$SS	2,307	3,094
	g	Other expenses	1.i.i8$E,'1:,?;.0#S	6,002	6,522	.r21,ti$j$o$	20,654	27,484
		Total Expenditure	2$:SgiO	22,856	1 9,1 86	f$:r:E8g	69,082	91,664
3		Profit from Operations Before Exceptional items and Tax(1-2)	'ul	3,609	1,076	lli#rfi	7,644	9,829
4		Exceptional ltems (loss)/ gain			102		506	506
5		Profit from Ordinary Activities Before Tax (3+4)	$s89	3,608	1,179	I.4,fisil	8,150	10,335
6		I ax txpense
		Current Tax	;4S71	1,300	455	4i4S8	2,173	2,574
		Deferred Tax	I54	64	323	932	922	868
aI		Net Profit from ordinary activities after Tax (5.6)	Ei3*8	2,244	400	fi 08+	5,055	6,993
8		Share of ProfiU(loss) [PAT] of Associates	4;8:il:ig	5,639	2,104	{rigi:ti4$	8,613	10,060
I		Net Profit for the period (7+8)	7i.InT	7, 883	2,504	2.1i,1 sfi	13,668	16,953
10		Other Comprehensive lncome / (loss) (net of tax)	t:,f$t.0	(43)	678	S	667	(640)
11		Share of OCI (net of tax) of Associates	'.{ffi	(87)	(36)	rilI,'4.t.i::'t:{X$f}.	49	279
12		Total Comprehensive lncome (after tax) for the period(9+10+11)	SjSSS	7,753	3,146	22;	14,384	16,592
13		Paid up Equity Share Capital (face value-Re.1 each)	8S5	835	835	8tsS	835	835
14		Other Equity						3,20,074
15		Basic&Diluted Earnings Per Share of Re.1l each -in Rs.
		Based on Net profit for the period (Not annualised)	8.; 8	944	3.00	;.i.'*.$.i H	16 36	20.2s

(Treasuly share of 31.26 lakhs (as on 31.03.2020: 31.29 , as on 30.09,2020 : 31.26 lakhs and as on 3'1.'12.2019 : 31.29 takhs) were deducted from total number of equity shares for the purpose of computation of Consolidated Earnings per share

UN-AUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

			CONSOLIDATED
	Particulars			QUARTER ENDED		NINE MONTHS ENDED	YEARENDED
			31.12.2020Un-audited	30.09.2020Un-audited	31.12.2019Un-audited	31.12.2020Un-audited	31.12.2019Un-audited	31.03.2020Audited
1		Segment Revenue / Income:
		a Building Products	26,323	22,686	18,006	78,117	65,574	84,816
	b	Textiles	4,064	3,382	1,946	8,734	8,507	12,416
	C	Windmills	291	610	195	1,282	1,349	1,559
	d	Unallocated	643	621	435	1,604	1,215	1,640
		TOTAL	31,321	27,299	20,582	89,737	76,645	1,00,431
		Less: Inter-segment Revenue	943	1,155	661	2,755	2,396	3,026
		Net Sales / Income from Operations	30,378	26,144	19,921	86,982	74,249	97,405
$\overline{2}$		Segment Results Profit (+) Loss (-) Before tax and
		Finance Cost
		a Building Products	3,716	3,038	1,348	12,190	6,160	7,104
	b	Textiles	207	(171)	(101)	(215)	13	(1)
	C	Windmills	147	457	54	840	906	981
	d	Unallocated
		Total	4,070	3,324	1,301	12,815	7,079	8,084
		Less: Finance Cost	202	211	361	759	1,112	1,468
		Add: Un-allocable income net off unallocable expenditure	121	495	238	718	2,183	3,719
		Total Profit before Tax	3,989	3,608	1,178	12,774	8,150	10,335
3		Segment Assets
		a Building Products	77,386	74,673	73,223	77,386	73,223	78,946
	b	Textiles	15,584	15,169	14,866	15,584	14,866	15,951
	C	Windmills	1,396	1,509	1,554	1,396	1,554	1,478
	d	Unallocated	2,90,939	2,83,390	2,71,160	2,90,939	2,71,160	2,74,948
		TOTAL$\sim$	3,85,305	3,74,741	3,60,803	3,85,305	3,60,803	3,71,323
4		Segment Liabilities
		a Building Products	15,647	15,216	13,356	15,647	13,356	15,506
	b	Textiles	5,586	5,186	4,180	5,586	4,180	5,311
	С	Windmills	179	170	154	179	154	174
	d	Unallocated	20,646	19,223	24,109	20,646	24,109	29,391
		TOTAL	42,058	39,795	41,799	42,058	41,799	50,382

$\mathbf{k}$

$\mathbb R$ . $\sim$ Notes:

• '1 The above un-audited consolidated financial results were reviewed by the Audit committee and approved by the Board of Directors at ib lVeetings held on 02.02.2021. The statutory Auditors have canied out a limited review ofthe above results.
• 2 The company's business operation compdses of multiple operating segments viz., Building Products, Textiles and Windmills.
• 3 As per Section 1158M in the lncome Tax Act, 1961, the Company has an irrevocable option of shifting to a lower tax rate and simultaneously forgo certain tax incentives, deductions and accumulated MAT credit. The Company has not exercised this option for the financial year 2020-2'1 in view of the benefits available under the existing tax regime.
• 4 The lndian Parliament has approved the Code on Social Security, 2020 ("the Code"), which, inter alia, deals with employee benefits during employment and post-employment. The Code has been published in the Gazette of lndia. The eflective date of the Code is yet to be notified and the rules for quantifying the financial impact are also yet to be issued. ln view of this, the impact of the change, if any, will be assessed and recognised post notification ofthe relevant provisions.
• 5 The Consolidated financial results have been prepared in accordance with lnd AS 110 read with lnd AS 28 which include the Standalone results of the parent company, Ramco lndustries Limited, its subsidiaries viz. Sudharsanam lnvestments Limited and consolidated result of Sri Ramco Lanka (Private) Limited, Srilanka, collectively referred as'Group' and its associates viz. Madurai Trans Canier Limited, Lynks Logistics Limited and Consolidated results of The Ramco Cements Limited, Ramco Systems Limited, Rajapalayam Mills Limited, Ramco lndustrial and Technology Services Limited.
• 6 The previous period figures have been re-grouped / restated wherever considered necessary.

For Ramco lndustries Limited

ftilLJt^

Chennai P.V.ABINAV RAMASUBRAMANIAM RAJA MANAGING DIRECTOR

02-42-2021

L

RAMCO INDUSTRIES LIMITED

Regd. Office: 47, P.S.K.Nagar, Rajapalayam 626 108.

Corporate Office: "Auras Corporate Centre", 98-A, Dr. Radhakrishnan Road, Mylapore, Chennai-600 004.

CIN: 126943TN1965P1C005297 ; WEBSITE: www.ramcoindltd.com

EXTRACT OF UN.AUDITED CONSOLIDATED FINANCIAL RESULTS FOR NINE MONTHS PERIOD / QUARTER ENDED 31.12,202A

							Rs. ln lakhs
			QUARTER ENDED			NINE MONTHS ENDED
Particulars		31,;1?,2020'Un-aud:ited	30,09.2020Un-audited	31.12.2019Un-audited	$1,:1.2,?020Ufi."audiitedi	31.12.2019Un-audited	31.03.2020Audited
1	lncome from Operations	3O;'3t*	26,144	19,921	8Si98t	74,249	97,405
2	Net ProfiV(loss) for the period (before tax, Exceptional and/or Extraordinary items)	3,98S	3,609	1,076	1i,2,774	7,644	9,829
3	Net ProfiU(loss) for the period (before tax, after Exceptionaland /or Extraordinary items)	3;:989	3,608	1,178	:1207,V4	8,1 50	10,335
4	Net Profit / (Loss) for the period (after tax, afterExceptional and / or Extraordinary items)	2.,348	2,244	400	8iS84	5,055	6,993
5	Share of Net profit After Tax (PAT) of Associatesaccounted for using the equity method	4,819	5,639	2,104	13,148	8,613	10,060
b	Total Comprehensive lncome for the period (ComprisingNet Profit for the period after tax and other Comprehensivelncome after tax)	8.393	7,753	3,1 46	27":434	14,394	16,592
7	Paid up Equity share capital	:835	835	835	83.5	835	835
8	Other Equity						3,20,074
9	Net worth						3,20,909
10	Earnings Per share of Re.1l each (Rs.)(Not annualised)
	Basic:	8."58	944	3.00	2, ;,',AiT	16 36	20 29
	Diluted.	8;58	9.44	300	,28; 2	16 36	20 29

Notes:

1 The above id an extract of the detailed format of Quarterly Financial Results filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations 2015, The full format of the Quarterly Financial Results are available on the Bombay Stock Exchange website (URL: www.bseindia.com/corporates), the National Stock Exchange website (URl:www.nseindia.com/corporates) and on the Company's website ( URL: www.ramcoindltd.com).

2 Key informations on Standalone Un-audited Financial Results:

	QUARTER ENDED			NINE MONTHS ENDED	YEARENDED
Particulars	31.,12"2020	30.09.2020	31.12.2019	g'il:t,t:12::fl0:20	31,12.2019	31.03.2020
	U:nri;a:tiEir	Un-audited	Un-audited	un;aud,ftdd:	Un-audited	Audited
lncome from Operations	24,592	20,558	16,000	72,546	63,301	82,631
Net Profit / (Loss) for the period (after tax, afterExceptional and I or Extraordinary items)	2,,859	2,709	848		5,575	6,552
Total Comprehensive lncome for the period (ComprisingNet Profit for the period after tax and other Comprehensivelncome after tax)	4,1S9	2,666	1,526		6.242	5,912

The previous period figures have been re-grouped / restated wherever considered necessary.

For Ramco lndustries Limited /ril'L'J4,^

P.V.ABINAV RAMASU BRAMANIAM RAJA MANAGING DIRECTOR

d.

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

Review Report to The Board of Directors RAMCO INDUSTRIES LIMITED

• We have reviewed the accompanying statement of unaudited financial results of RAMCO INDUSTRIES LIMITED (the "Company") for the quarter ended December 31, 2O2O and year to date from April L,2O2O to December 3L,2O2O (the "statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20L5, as amended (the "Listi ng Regu lations"). 1.
• This Statement is the responsibility of the Company's management and has been approved by the Board of Directors, which has been prepared in accordance with the recognition and measurement principles laid down in lndian Accounting Standard 34 "lnterim Financial Reportin g" ("lnd AS 34"1, prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in lndia. Our responsibility is to express a conclusion on the Statement based on our review. 2.
• We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial lnformation Performed by the lndependent Auditor of the Entity", issued by the lnstitute of Chartered Accountants of lndia. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are 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. 3.
• Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared -in accordance with applicable accounting standards 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, 20L5, as amended, read with Circular No. CIR/CFD/CMDL/30/20L9 dated L9th July 2019 including the manner in which it is to be disclosed, or that it contains any material misstatement. 4.

1. We did not review the interim financial results of one foreign branch included' in the standalone unaudited interim financial results, whose results reflect total revenues of Rs. Nil and Rs. Nil, total net profit/(loss) after tax of Rs. (1.77 Lakhs) and Rs. (4.53 Lakhs), total comprehensive income/(loss) of Rs. (L.77 Lakhs) and Rs. (4.53 Lakhs) for the quarter ended 31st December 2020 and for the period from 01't April 2020 to 31st December 2O2O respectively, as considered in the respective standalone unaudited interim financial results. The interim financial results of the foreign branch has been reviewed by the other auditor whose report has been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of the foreign branch, is based solely on the report of such auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter.

For SRSV & Associates Chartered Accountants FirmURegistration No. : 0150415

U1-L \ r \-1" ''r/F

P. Santhanam Partner Membership No.: 018597 UDIN No.: t to l86qr ftftfrftAV/tzgb Place: Chennai

Dated: 02nd February 2O2L

For Ramakrishna Raja And Co Chartered Accountants Firm Reeislqtion No.: 0053335

"/ .€ {* L' C. Kesavan

Partner Membership No.:227833 UDIN No.: ffi 2tL2-183 3kAA h&xs

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

The Board of Directors of RAMCO INDUSTRIES LIMITED

• L. We have reviewed the accompanying Statement of Consolidated Unaudited financial results of RAMCO TNDUSTRIES LIMITED ("The Parent") and its Subsidiaries(The Parent and its subsidiaries together referred to as the "Group"), and its share of net profit after tax and total comprehensive income of its associates for the quarter ended 31st December 2O2O and for the period from 01st April 2020 to 31st December 2020 ("the Statemeht"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with circular No. clR/cFD/cMDI/44/2019 dated 29th March 20t9.
• This statement which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in lndian Accounting Standard 34 "lnterim Financial Reporting" (lnd AS 34), prescribed under Section L33 of the Companies Act, 20L3 read with relevant rules issued there under and other accounting principles generally accepted in lndia. Our responsibility is to express a conclusion on the statement based on our review. 2.
• We condqcted our review of the statement in accordance with the Standard on Review Engagements (SRE) 241,0, "Review of Interim Financial lnformation Performed by the lndependent Auditor of the Entity", issued by the lnstitute of Chartered Accountants of lndia (lCAl). 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. 3.

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

Name of the entity	Relationship
Sud harsa na m lnvestments Limited	lndian Subsidiary
Sri Ramco Lanka (Private) Limited, Srilanka	Fore gn Subsidary
Sri Ramco Roofings Lanka (Private) Limited, Srilanka	Fore gn Subsidary
The Ramco Cements Limited	Assoc ate
Ramco Systems Lim ted	Assoc ate
Rajapalayam Mills Lm ited	Assoc ate
Ramco lndustrial and Technology Services limited	Assoc ate
Madurai Trans Carrier Limited	Associate
Lynks Logistics Limited	Associate

1. The Statement includes the results of the following Subsidiaries and Associates:

• Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6,7 and 8 below, nothing has come to our attention that causes us to believe that the accompanying statements, prepared in accordance with the recognltion 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 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. 5.
• We did not review the interim financial results of one foreign branch included in the standalone unaudited interim financial results of the entities included in the Group, whose results reflect total revenues of Rs. Nil and Rs. Nil, total net profit/(loss) after tax of Rs. (L.77 Lakhs) and Rs. (4.53 Lakhs), total comprehensive income/(loss) of Rs. (1.77 Lakhs) and Rs. (4.53 Lakhs) for the quarter ended 3]-st December 2020 and for the period from 01st April 2020 to 31st December 2020 respectively, as considered in the respective standalone unaudited interim financial results of the entities included in the Group. The interim financial results of the foreign branch has been reviewed by the other auditor whose report has been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of the foreign branch, is based solely on the report of such auditor and the procedures performed by us as stated in paragraph 3 above. our conclusion is not modified in respect of this matter. 6.
• The interim unaudited financial results of one lndian Subsidiary, which was reviewed by one of us, included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs. Nil and Rs. Nil, total net profit/(loss) after tax of Rs. 7.

(2.63 Lakhs) and Rs. (10.93 Lakhs), total comprehensive income/(loss) of Rs. (2.63 Lakhs) and Rs. (10.93 Lakhs) for the quarter ended 31st December 2020 and for the period from 01st April 2020 to 31st December 2020 respectively, as considered in the respective consolidated unaudited financial results.

We did not review the interim unaudited financial results of two foreign subsidiaries included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs. 6,497.21- Lakhs and Rs. L6,256.O7 Lakhs, total net profit after tax of Rs. 850.22 Lakhs and Rs. 2,086.47 Lakhs, total comprehensive income of Rs. 85O.22 Lakhs and Rs. 2,086.47 Lakhs for the quarter ended 31-st December 2O2O and for the period from 01st April 2020 to 3Lst December 2020 respectively, as considered in the respective consolidated unaudited financial results. The interim financial results of the two foreign subsidiaries have been reviewed by the other auditor whose report has been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of the foreign subsidiaries, is based solely on the report of such auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter.

1. These consolidated unaudited financial results also includes the group share of net profit /(loss)after tax of Rs. (L26.87 Lakhs) and Rs. (347.05 Lakhs) and total comprehensive income of Rs. (128.63 Lakhs) and Rs. (351.6L Lakhs) for the quarter ended 31st December 2020 and for the period from 01st April 2020 to 31st December 2A20 respectively, as considered in the consolidated unaudited financial results, in respect of three associates. Out of this, the interim financial results of one associate has been reviewed by one of us and two .associates has been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these associates is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of these matters.

These consolidated unaudited financial results also includes the group share of net profit after tax of Rs. 4,945.70 Lakhs and Rs. L3,495.40 Lakhs and total comprehensive income of Rs. 4863.83 Lakhs and Rs. t3,242.74 Lakhs for the quarter ended 3Lst December 2020 and forthe period from 0Lst April 2020 to 31st December 2020 respectively, as considered in the consolidated unaudited financial results, in respect of three associates, based on their interim financial results which have not been reviewed by their auditors. These interim financial results have been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of

these associates, is based solely on the reports of the management and the procedi.rres performed by us as stated in paragraph 3 above.

Our conclusion is not modified in respect of this matter.

For SRSV & Associates Chartered Accountants Firrq Registration No.: 0150415

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P. Santhanam Partner Membership No.: 018697 UDIN No.:

dI o t66ql AftftAAW q?l I Place: Chennai Dated: 02nd Februa ry 2O2L

Firm rfion No.: 0053335 For Ramakrishna Raja And Co Chartered Accountants

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