Rubfila International Ltd. — Interim / Quarterly Report 2022

Nov 14, 2022

RIL/SECTLI2O22I 14-11-2022

The Stock Exchange Mumbai Corporate Relationship Dept, Ph irozee Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai - 400 001

Scrip Code - ⁵⁰⁰³⁶⁷

Dear Sir,

Sub :- compliance of Regulation 33 of sEBl (Listing obligations and Disclosure Requirements) Regulatio n, 2015 - Reg.

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and other applicable provisions, please find attached herewith the following approved by the Board in their meeting today; i.e;14-j1-2022. rhe meeting commenced at 3.30 p.m. and concluded at .m.

A. Financial Statements:

• Un-audited Financial Results (Standalone / Consolidated) for the quarter ended 30tn September, 2022.
• Limited Review Report by the Statutory Auditors on the Financial Results (Standalone / consolidated) for the euafter ended 30th september, 2022. ii)

This is for your kind information and records.

Thanking You,

Yours faithfully, For RUBFILA ^I NATIONAL LTD

G. KRISHN Managin

RUBFILA INTERNATIONAL LTD CIN: L25199KL1993PLC007018
Regd.Office : New Industrial Development Area, Menonpara Road, Kanjikode,
Palakkad, Kerala

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER, 2022

		STANDALONE			,,, , ,,,,,, ,
			OUARTER ENDED			HALF YEAR ENDED	YEAR ENDED
	No. Particulars	Sep 30, 2022				Jun 30, 2022 Sep 30, 2021 Sep 30, 2022 Sep 30, 2021	Mar 31, 2022
		(Unaudited)	(Unaudited)	(Unaudited)	(UnaudIted)	(Unaudited)	(Audited)
1	Revenue from Operations	9,013.72	11,156.88	10,632.11	20,170.60	19,423.20	41,665.32
$\mathbf{I}$	Other Income	136.90	155.55	100.38	292.45	195.49	397.61
III	Total Income $(I + II)$	9,150.62	11,312.43	10,732.49	20,463.05	19,618.69	42,062.93
IV	Expenses
	Cost of Materials Consumed	6,511.70	8,529.24	7,701.77	15,040.94	14,060.39	30,184.19
	Changes in inventories of Finished Goods Work-in- Progress and Stock in Trade	169.70	(534.68)	82.41	(364.98)	(308.66)	(250.91)
	Employee Benefits Expense	420.59	412.04	374.57	832.63	718.55	1,519.44
	Finance Costs	6.65	0.15		6.80		4.27 563.27
	Depreciation and Amortization Expense	169.92	168.12	133.80	338.04	262.70 1,789.53	4,065.00
	Other Expenses	1,160.53	1,281.35	966.25	2,441.88	16,522.51	36,085.26
	Total Expenses	8,439.09	9,856.22	9,258.80	18,295.30
v	Profit before Exceptional Items & Tax (III-IV)	711.53	1,456.21	1,473.69	2,167.75	3,096.18	5,977.67
VI	Exceptional Items						197.44
VII	Profit before Tax (V-VI)	711.53	1,456.21	1,473.69	2,167.75	3,096.18	5,780.23
	VIII Tax Expense
	1 Current Tax	151.57	342.48	337.72 39.08	494.05 42.95	732.08 63.18	1,354.18 121.90
	2 Deferred Tax	18.44	24.51		537.00	795.26	1,476.08
	Total Tax Expense	170,01	366.99	376.80
IX	Profit for the period (VII-VIII)	541.53	1,089.22	1,096.89	1,630.75	2,300.92	4,304.15
$\mathbf x$	Other Comprehensive Income
	i Items that will not be reclassified to profit or loss						67.85. (17.08)
	ii Income tax relating to items that will not be reclassified to						50.77
		541.53	1,089.22	1,096.89	1,630.75	2,300.92	4,354.92
XI	Total Comprehensive Income (IX+X)	2713.38	2,713.38	2,713.38	2,713.38	2,713.38	2,713.38
XII	Paid-Up Equity Share Capital (Face Value of Rs.5/-)						20,215.98
XIII	Other Equity
XIV	Earning per Equity Share in Rs. Ps.	1.00	2.01	2.02	3.01	4.24	8.02
	in Rs. Ps. a Basic in Rs. Ps. b Diluted	1.00	2.01	2.02	3.01	4.24	8.02
XV	Net Worth						22,929.36

$in$ # $l_2$ $the$

Standalone Balance Sheet as at 30.09.2022 ( Unaudited)			₹ in Lakhs
		As at
Particulars	Note	30 September 2022	As at 31 March 2022
Assets
1. Non-current assets
Property, plant and equipment	$\overline{2}$	12,595.11	12,691.35
Capital work-in-progress	3	1,801.58	297.84
Other intangible asset	$\overline{4}$	2.07	2.80
Investment property	5	128.15	128.15
Financial assets
Investments	6	3,200.14	3,200.14
Other financial assets	$\overline{7}$	306.20	283.38
Other non-current asset	8	350.91	403.18
		18,384.16	17,006.84
2. Current assets
Inventories	9	2,264.20	1,888.82
Financial assets
Trade receivables	10	4,097.61	5,305.01
Cash and cash equivalents	11	281.71	705.51
Bank balance other than cash and cash equivalents	12	1,079.04	383.22
Loans	13	1,975.00	1,975.00
Other financial assets	14	22.49	19.43
Other current assets	15	249.15	232.34
Total Assets		9,969.19	10,509.33
Equity & Liabillities		28,353.35	27,516.17
1. Equity
Equity Share capital	16
Other equity (Reserves & Surplus)	17	2,713.38	2,713.38
		20,897.06 23,610.44	20,215.98
2. Liabilities			22,929.36
Non-current liabilities
Provisions (non Current)	18	1,246.79
Deferred tax liabilities (Net)	34	597.96	1,135.29
Other non -current liabilities	19	3.10	555.01
			2.50
Current liabilities		1,847.85	1,692.80
Financial liabilities
Trade Payables outstanding dues of:
Micro enterprises and small enterprises	20	51.16
Creditors other than micro enterprises and small enterprises		988.49	0.02
			2,051.75
Other financial liabilities	21	1,368.52
Current tax liabilities (Net)	22	108.15	464.96
Other current liabilities	23	234.32	16.66
Provisions	24	144.44	245.09
		2,895.06	115.53
Total Liabilities		28,353.35	2,894.01 27,516.17

	Cash Flow Statement
	flow fiom operating activiUes
before tax		2,t67.76	5r78O.25
	to reconcile profit before tax to net cash flows
	Depreciation and amortisation expenses	338.04	s63.27
Finance costs		5.80	4.27
Interest income			(234.4t
	Operating profit before working capital changes		6,113.38
Adjustments for :
	(Increase)/decrease in inventories		(s93.s8
	(Increase)/decrease in trade receivables
	(Increase)/decrease in loans, advance and other assets
	(Increase)/decrease in other bank balances
	(Increase)/decrease in other assets
	(Increase) / decrease in Trade, other payables and provisions
	Cash flows from operating activities
	Direct taxes Paid (Net of refunds)
	cash flow generated from operating activities (A)
	flow from investing activities
	Purchase of propefi, plant and equipment
Interest received
	cash flow used in investing activities (B)
	flow from financing activities
Dividend paid to EquitY holders
Finance Cost	Net cash flow generated from / (used in) financing activities (G)
	inclease in cash and cash equivalents (A+B+C)
	and cash equivalents at the beginning of the year
	and cash equivalents at the end of the year

$\mathfrak{r}$

RUBFILA INTERNATIONAL LTD
CIN: L25199KL1993PLC007018
Regd.Office : New Industrial Development Area,
Menonpara Road, Kanjikode,
Palakkad, Kerala

CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER, 2022

				Consolidated			in e iakns
			OUARTER ENDED			HALF YEAR ENDED	YEAR ENDED
	No. Particulars	30.09.2022	30.06.2022	30.09.2021	30,09,2022	30,09,2021	31,03,2022
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf{1}$	Revenue from Operations	11,223.18	13,135.93	12,298.27	24,359.11	22,076.80	47,674.57
$\mathbf{I}$	Other Income	281.03	168.57	115.94	449.60	229.03	462.11
III	Total Income (I + II)	11,504.21	13,304.50	12,414.21	24,808.71	22,305.83	48,136.68
IV	Expenses
	Cost of Materials Consumed	7,754.43	9,562.14	8,479.40	17,316.57	15,380.89	33,379.44
	Purchase of Stock in Trade	112.78	66.00	153.62	178.78	251.16	553.49
	Changes in inventories of Finished Goods Work-In- Progress and Stock in Trade	191.14	(475.60)	79.64	(284.46)	(414.83)	(645.75)
	Employee Benefits Expense	740.08	714.45	625.92	1,454.53	1,133.75	2,462.04
	Finance Costs	9.84	3.64	3.31	13.48	6.81	22.04
	Depreciation and Amortization Expense	211.24	208.90	172.27	420.14	338.63	719.82
	Other Expenses	1,584.37	1,663.61	1,320.02	3,247.98	2,364.87	5,433.53
	Total Expenses	10,603.88	11,743.14	10,834.18	22,347.02	19,061.28	41,924.61
$\mathbf v$	Profit before exceptional items (III-IV)	900.33	1,561.36	1,580.03	2,461.69	3,244.55	6,212.07
VI	Exceptional Items						197.44
	VII Profit before Tax (VI-VII)	900.33	1,561.36	1,580.03	2,461.69	3,244.55	6,014.63
	VIII Tax Expense
	1 Current Tax	182.73	380.44	358.81	563.17	761.86	1,416.77
	2 Deferred Tax	35.71	7.49	23.67	43.20	70.57	133.51
	Total Tax Expense	218.44	387.93	382.48	606.37	832.43	1,550.28
IX	Profit for the period (VII-VIII)	681.89	1,173,43	1,197,55	1,855,32	2.412.12	4,464.35
$\mathbf x$	Other Comprehensive Income
	i Items that will not be reclassified to profit or loss						77.16
	ii Income tax relating to items that will not be reclassified to Profit and						(17.08) 60.08
	$XT$ Total Comprehensive Income for the period $IX+X$ )	681.89	1,173.43	1,197.55	1,855.32	2,412.12	4,524.43
XII	Paid-Up Equity Share Capital (Face Value of Rs.5/-)	2,713.38	2,713.38	2,713.38	2,713.38	2,713.38	2,713.38
	XIII Other Equity						2,713.38
XIV	Earning per Equity Share in Rs. Ps.						23,538.17
	in Rs. Ps. a Basic	1.26	2.16	2.21	3.42	4.44	8.34
	in Rs. Ps. b Diluted	1.26	2.16	2.21	3.42	4.44	8.34
XV	Net Worth						23,538.17

RUBFILA INTERNATIONAL LIMITED NEW INDUSTRIAL DEVELOPMENT AREA, KANJIKODE, PALAKKAD STATEMENT OF ASSETS & LIABILITIES ( Unaudited)

All amounts are in Rupees Lakhs unless otherwise stated			Consolidated
Particulars	Note No.	As at 30 September, 2022	As at 31 March, 2022
ASSETS
1. Non-current assets
Property, plant and equipment	$\overline{2}$	15,160.61	15,321.86
Capital work-in-progress	$\overline{2}$	1,979.33	421.05
Other Intangible Asset	$\overline{2}$	7.71	9.19
Right of use of Assets		44.51	51.02
Investment Property	$\overline{2}$	128.15	128.15
Goodwill	$\overline{\mathbf{3}}$	32.76	32.76
Financial assets
Investments	4	385.42	367.36
Other financial assets Other non -Cuurent Asset	5	354.30	415.03
		18,092.79	16,746.42
2. Current assets
Inventories	6	3,241.43	2,944.72
Financial assets
Trade Receivables	$\overline{7}$	4,512.03	5,536.50
Cash and cash equivalents	8	371.09	871.77
Bank balance other than Cash and cash equivalents	9	1,517.59	491.63
Loans, Current	10	2,475.00	2,475.00
Other financial assets	11	29.71	31.69
Current Tax Asset (Net)
Other current assets	12	485.77	336.94
		12,632.62	12,688.25
TOTAL		30,725.41	29,434.67
EQUITY AND LIABILITIES
1. Equity
Equity attributable to owners of Parent
Equity Share capital	SOCE	2,713.38	2,713.38
Other equity (Reserves & Surplus)	SOCE	21,730.49	20,824.79
		24,443.87	23,538.17
2. Liabilities
Non-current liabilities
Financial liabilities
Other financial Liabilities	13	80.57	85.61
Provisions (non Current)	14	1,253.95	1,145.37
Deferred tax liabilities (Net)	32	1,001.19	957.99
Other non -Current Liabilities	15	3.10	2.50
		2,338.81	2,191.47
Current liabilities
Financial liabilities
Trade Payable due to:
Micro and small enterprises	16	174.91	68.28
Other than micro and small enterprises		1,417.72	2,461.74
Lease Liabilities	18	11.26	11.26
Other Financial liabilities	19 20	1,477.62 239.85	590.47 30.77
Current Tax Liabilities (Net) Other Current liabilities	21	458.87	424.80
Provisions	22	162.50	117.71
		3,942.73	3,705.03

RUBFILA INTERNATIONAL LIMITED NEW INDUSTRIAL DEVELOPMENT AREA, KANJIKODE, PALAKKAD
Statement of unaudited Consolidated Cash Flow Statement for the period ended 30 September, 2022

$in \mathcal{F}$ lakhe

Particulars	For the Period ended 30 September 2022	III < Ianiiə For the Year ended 31 March 2022
A. Cash flow from operating activities
Net Profit / (Loss) before tax	2,461.74	6,014.63
Adjustments for:
Depreciation and amortisation expenses of Property,	413.62	719.84
Finance costs	6.80	4.27
Gain on disposal of property, plant and equipment		4.48
Allownace of expected credit Loss		5.09
Interest income	(150.96)	(295.95
Interest Expenses	6.68	17.77
	276.14	455.50
Operating profit / (loss) before working capital changes	2,737.88	6,470.13
work, Changes in working capital:
Increase / (decrease) Inventories	(296.69)	(975.87
(Increase)/decrease in trade receivables	1,029.42	(2, 276.28)
(Increase)/decrease in loans, advance and other assets	(14.97)	57,37
(Increase)/decrease in other bank balances	(1,025.96)	(85.24)
(Increase)/decrease in other assets	(19.87)	1,732.37
(Increase) / decrease in Trade, other payables and provisions	133.26	(28.23)
Cash generated from operations	2,543.07	4,894.25
Income tax paid (Net of refunds)	(475.69)	(1,402.80)
Cash flow from operating activities (A)	2,067.38	3,491.45
B. Cash flow from investing activities
Purchase of property, plant and equipment	(1,750.37)	(2,946.31)
Proceeds from sale of property, plant and equipment		1.89
Interest received	150.96	295.95
Cash flow from investing activities (B)	(1,599.41)	(2,648.47)
C. Cash flow from financing activities
Proceeds from issue of equity shares Share Application money received
Dividend paid to Equity holders	(949.68)	(705.48
Finance Cost	(13.48)	(22.04)
Paymnet of lease liabilities	(5.49)	13.02
Net cash flow from / (used in) financing activities (C)	(968.65)	(714.50
Net increase / (decrease) in Cash and cash equivalents (A+B+C)	(500.68)	128.48
Cash and cash equivalents at the beginning of the year	871.77	743.29
Cash and cash equivalents at the end of the year	371.09	871.77

Segment wise revenue, results, assets and liabilities for the quarter ended 30 September 2022												in ₹ lakhs
Particulars			Standalor	e					Consolidated
		Quarter Ended		Cumulative		Year ended		Quarter Ended		Cumulative		Year ended
	30/09/2022	30/06/2022	30/09/2021	0/09/2022	30/09/2021	31.03.2022	30/09/2022	30/06/2022	30/09/2021	30/09/2022	30/09/2021	31.03.2022
	Unaudited	Unaudited	Unaudited	naudhed	Unaudited	Audited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audlted
1 Segment Revenue
Latex Rubber Thread	9,013.72	11,156.88	10,632.11	20,170.60	19,423.20	41,665.32	9,013.72	11,156.88	10,632.11	20,170.60	19,423.20	41,665.32
Paper Tissue							2,209.46	1,979.05	1,666.16	4,188.51	2,653.60	6,010.25
Less Inter Segment Elemination												$\frac{8}{1}$
Total Segment Revenue	9,013.72	11,156.88	10,632.11	20,170.60	19,423.20	41,665.32	11,223.18	13,135.93	12,298.27	24,359.11	22,076.80	47,674.57
Segment Results $\overline{\mathbf{r}}$
Latex Rubber Thread	718.18	1,456.35	1,473.69	2,174.54	3,096.18	5,784.50	718.18	1,456.35	1,473.69	2,174.54	3,096.18	5,980.94
Paper Tissue				ł			192.00	108.64	109.67	300.66	155.18	253.16
Sub Total	718.18	1,456.35	1,473.69	2,174.54	3,096.18	5,784.50	910.18	1,564.99	,583.36	2,475.20	3,251.36	6,234.10
Less Finance Costs	6.65	0.15		6.80		4.27	9.84	3.64	3.31	13.48	6.81	22.04
Less : unallocable Expenses	ï											197.44
Profit before Tax	711.53	1,456.20	1,473.69	2,167.74	3,096.18	5.780.23	900.34	1,561.35	1,580.05	2,461.72	3,244.55	6,014.62
Less Tax Expense	170.01	366.99	376.80	537.00	795.26	1,476.08	218.44	387.93	382.48	606.37	832.43	1,550.28
Net Profit for the year	541.52	1,089.21	1,096.89	1,630.74	2,300.92	4,304.15	681.90	1,173.42	1,197.57	1,855.35	2,412.12	4.464.34
Segment Assets $\ddot{\phantom{1}}$
Latex Rubber Thread	28,353.35	29,075.92	25,601.17	28,353.35	25,601.17	27,516.17	28,353.35	29,075.92	25,601.17	27,687.28	25,601.17	27,516.17
Paper Tissue							5,541.81	5,352.30	4,902.89	5,541.81	4,902.89	5,092.25
Total Segment Assets	28,353.35	29,075.92	25,601.17	28,353.35	25,601.17	27,516.17	33,895.16	34,428.22	30,504.06	33,229.09	30,504.06	32,608.42
4 Segment Liabilities
Latex Rubber Thread	4,742.91	5,057.33	4,725.87	4,712.16	4,725.87	4,586.81	4,742.83	5,057.33	4,725.87	4,712.08	4,725.87	1,586.76
Paper Tissue							1,538.74	1,489.56	1,181.81	1,538.74	1,181.81	1,314.79
Total Segment Liabilities	4,742.91	5,057.33	4,725.87	4,712.16	4,725.87	4,586.81	6,281.57	6,546.89	5,907.68	6,250.82	5,907.68	5,901.55

$\frac{1}{\sqrt{2}}$

4

Standalone

Additional disclosures as per Regulation 52(4) of Securities Exchange Board of India (listing Obligations and Disclosure requirements) Regulations 2015

Particulars	Quarter ended on 30 September	on 30 June	$\frac{30}{30}$ Quarter ended Quarter ended	Half year	Half year ended ended on 30 on 30 September	Year ended on 31 March
	2022	2022	September 2021	2022 September	2021	2022
Current assets / Current liabilities Current ratio	3.44	3.63	3.12	3.44	3.12	3.63
Cost of Goods Sold** / Average inventory nventory turnover ratio-annualised	11.15	14.47	17.25	14.14	9.88	18.80
Revenue from operations / Average trade receivable	7.84	8.58	11.45	8.58	10.96	10.04
Cost of Goods Sold** / Average trade payables Trade Payables Turnover	15.42	15.54	13.16	19.46	13.11	14.55
Revenue from operations / Working capital\$ Net Capital Turnover	5.10	5.32	6.43	5.70	5.88	5.47
EBITDA-Other Income / Revenue from operations Operating Margin	8.33%	13.17%	14.18%	25.25%	15.68%	14.75%
Net Profit after tax / Revenue from operations Net Profit/(Loss) Margin	6.01	9.76	10.32	8.08	11.85	10.45
Net worth in ₹ Lakhs		$\mathbf{I}$	ï			ï
Net Profit after tax	541.53	1,089.22	1,096.89	1,630.75	2,300.92	4,354.92
Basic earnings per share	1.00	2.01	2.02	3.01	4.24	8.02
Diluted earnings per share	1.00	2.01	2.02	3.01	4.24	8.02

*Debt-Eqity ratio and Debt service coverage ratio is not relevant for the company being a zero debt one.

financial results have been prepared in accordance with lndlan Accountmg stancaros ( rno AD, PrescrlDeo unucr scsuoll rJJ ur tIlE panies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,20l5 (as amended) and SEBI circular dated 5 July,2016. Indian Accounting Standards ('Ind AS) prescribed under section 133 of theFor and on behalfofBoard ofDirectors

Theconsolidatedfinancialresults forthequarterendedSeptember30,2022andyeartodateresultofMarch3l,2022includesthefinancial results of its wholly owned subsidiary, lws Premier Tissues India Limited

• The company has only one reportable business segment viz. "Latex Rubber Thread" and its subsidiary also has one reportable business viz" Paper Tissue"
• 4lThe number of Investor Complaints pending at the beginning of the quarter was nil , one complaint was received & resolved during the and no complaints were pending at the end of the quarter
• 5lThe above results were reviewed and recommended by the audit committee and approved by the Board of Directors at their respective ines held on l4th Novemb er 2022 and the auditors have issued an unmodified opinion on the same.
• figures ofthe previous yearlperiod have been regrouped/recast to render them comparable with the figures ofthe cunent period'

Palakkad November 2022

FIIAINTERNAT LLTD

G. KRISIIIIAXOMAR Managfg Director

Mohan & Mohan Associates

C H A R T E R E D A C C O U N T A N T S

Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Rubfila International Limited

• 1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of Rubfila International Limited ('the Company') for the quarter ended 30 September 2022 and the year to date results for the period 01 April 2022 to 30 September 2022, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations') read with SEBI Circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021.
• 1. The 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 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 and Regulation 52 read with Regulation 63 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 the Standards on Auditing specified under section 143(10) of the Act, 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.
• 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 the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 and Regulation 52 read with Regulation 63 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.

Emphasis of Matters

1. The company has provided for contingencies to the extent of Rs, 30 Lakhs during the quarter and total accumulated provision of Rs.929 Lakhs as at 30 September 2022 towards liability for uncertainties in the business, regulatory and legal environment, unascertainable on the date of this report. Our opinion is not modified in respect of this matter.

For Mohan & Mohan Associaties Chartered Accountants Firm Reg No. 02092S R Suresh Mohan Partner Membership No 13398 UDIN: 22013398BDBXEU3746 MOHAN SURESH Digitally signed by MOHAN SURESH Date: 2022.11.14 17:06:06 +05'30'

14 November 2022 Thiruvananthapuram

M o h a n & M o h a n A s s o c i a t e s C h a r t e r e d A c c o u n t a n t s

Mohan & Mohan Associates

C H A R T E R E D A C C O U N T A N T S

Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Rubfila International Limited

• 1. We have reviewed the accompanying statement of unaudited consolidated financial results ('the Statement') of Rubfila International Limited ('the Holding Company') and its subsidiary company (the Holding Company and its subsidiary together referred to as 'the Group'), for the quarter ended 30 September 2022 and the consolidated year to date results for the period 01 April 2022 to 30 September 2022, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63 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 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 and Regulation 52 read with Regulation 63 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 the Standards on Auditing specified under section 143(10) of the Act, 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.
• 1. We also performed procedures in accordance with the SEBI Circular CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of the Listing Regulation, to the extent applicable.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review reports of other auditors referred to in paragraph 6 below, 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 Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 and Regulation 52 read with Regulation 63 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.

Emphasis of Matters

1. The Holding company has provided for contingencies to the extent of Rs, 30 Lakhs during the quarter and total accumulated provision of Rs.929 Lakhs as at 30 September 2022 towards liability for uncertainties in the business, regulatory and legal environment, unascertainable on the date of this report. Our opinion is not modified in respect of this matter.

Other Matters

1. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of the wholly owned subsidiary, which have been reviewed by their auditors, whose interim financial information reflect total revenue of Rs. 2,353.39 Lakhs and Rs. 4,345.66 Lakhs, total net profit after tax of Rs. 140.41 Lakhs and Rs. 224.61 Lakhs, and total comprehensive income of Rs. 140.41 Lakhs and Rs. 224.61 Lakhs for the quarter ended 30 September 2022 and for the period from 01 April 2022 to 30 September 2022, respectively as considered in the consolidated unaudited financial results. The unaudited interim financial results and other unaudited financial information have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of these subsidiary, is based solely on such unaudited interim financial results and other unaudited financial information. Our conclusion on the Statement is not modified in respect of our reliance on the interim financial information results certified by the Management.

For Mohan & Mohan Associaties Chartered Accountants Firm Reg No. 02092S R Suresh Mohan MOHAN SURESH Digitally signed by MOHAN SURESH Date: 2022.11.14 17:09:23 +05'30'

Partmer Membership No 13398 UDIN: 22013398BDBZLL6929

14 November 2022 Thiruvananthapuram

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