Sadhana Nitrochem Ltd. — Interim / Quarterly Report 2021

Nov 11, 2021

SADHANA NITRO CHEM LIMITED

CIN : L24110MH1973PLC016698

10, Bruce Street, 1st Floor, 8/12 Homi Mody Street, Fort, Mumbai 400001 a. Tel.: 022-68663300, Email: sadhananitro@sncl.com, Website: www.sncl.com

Date: November 11, 2021

To Bombay Stock Exchange Limited Ist Floor, P.J. Towers, Dalal Street, Mumbai — 400001

Scrip Code: 506642

Subject: Outcome of Board Meeting held today i.e. November 11, 2021

Reference: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 read with Circular (Ref No. CIR/CFD/F AC/6212016 dated July 05, 2016, we hereby inform you that the Board of Directors of Sadhana Nitro Chem Limited ('the Company") at their meeting held on Thursday, November 11, 2021 at 10, Bruce Street, 1st Floor, 8/12, Sir Homi Modi Street, Fort, Mumbai-400001, inter—alia transacted the following items of business:

• 1. Considered and approved Un-audited Standalone & Consolidated Financial Results along with Limited Review Report of the Company for the quarter and half year ended September 30, 2021. A copyof the same is enclosed herewith as Annexure-A
• 1. Due to the heavy rains upto Mid October 2021, there was delay in installation of the utility and Ancillary infrastructure for the Para Amino phenol (PAP) Plant. Since the rain ceased post Mid October 2021, the plant work has been in full swing and the production is expected to start in the current quarter

The meeting commenced at 4:00 P.M. and concluded at S30 Pin.

Kindly take the same on your records

FOR SADHANA NITROCHEM LIMITED

WW

Nitin Rameshchandra Jani Company Secretary & Compliance Officer Membership No.: A4757 Address: - Plot No. 177, Room No.16, Jawahar Nagar Road No.2, Goregaon (West) Mumbai — 400062

Registered Office : Hira Baug, 1st Floor, Kasturba Chowk (C.P Tank), Mumbai - 400 004, INDIA Factory : 47, MIDC, Roha - 402 116, Dist. Raigad, Maharashtra. Tel.: Dhatav-021 94-263801/02/03, ²⁶³⁵²⁵4.

SADHANA NITRO CHEM LIMITED {CIN NO. L24100MH1973PLC016698)

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULT FOR THE QUARTER & HALF YEAR ENDED SEPTEMBER 30, 2021

						ANNEXuRR-	AJ
		SADHANA NITRO CHEM LIMITED	{CIN NO. L24100MH1973PLC016698)
	a= Regd. Office : Hira Baug, 1ST Floor, Kasturba Chowk (C.P. Tank), Mumbai - 400 004 Tel. No, 022-23865629, Fax: 022-23887235, E-mail: sadhananitro@sncl.com, website: www.sncl.com
	STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULT FOR THE QUARTER & HALF YEAR ENDED SEPTEMBER 30, 2021						(Rs. In Lakh)
			STANDALONE QUARTER ENDED		STANDALONE SIX MONTHS ENDED		STANDALONE YEAR ENDED
	Particulars	30.09.21 3 Months	30.06.21 3 Months	30.09.20 3 Months	30.09.21 6 Months	30.09.20 6 Months	31.03.21 12 Months
1	[Income		Unaudited		Unaudited		Audited
	a) Revenue From Operation b) Other Income	2,848 124	2,486 75	2,015 102	5,334 199	3,668 201 3,869	9,007 422 9,429
2	Total Income Expenses	2,972	2,561	2,117	5,533	1,819	5,342
	a) Cost of materials consumed b) Changes in inventories of finished goods, Work in Progress and Stock in trade	1,966 (564)	1,767 (684)	1,175 (239)	3,733 (1,248)	(189)	(1,956)
	c) Excise Duty d) Employees benefits expense	: 398	: 424	: 356	- 822 282	- 750 287	- 1,552 575
	e) Depreciation and amortisation expenses f) Finance Cost g) Other expenses	141 96 773	141 81 599	144 82 432	177 1,372	158 796	341 2,280
	Total expenses	2,810	2,328	1,950	5,138	3,621	8,134
4	3 Profit/(Loss) before Tax and exceptional items (1- 2) JExceptional Items	162 =	233 -	167	395	248 >	1,295 -
5 6	Profit/({Loss) before Tax (3+4) Add / (Less) Tax Expenses	162	233	167	395	248	1,295
	Tax / Mat (a) Current (b) Mat Credit Entitlement	36 :	59 =	23 a	95	31 :	286 :
	(c) Deferred Tax (Liabilities) / Assets Total Tax Expenses	6 42	1 60	6 29	7 102	(21) 10	(13) 273
	Net Profit After Tax (5-6) Other Comprehensive income/(loss)	120	173	138	293	238	1,022
7 8	(a) Re-measurement on Defined benefit plans	=	=	2		2	6 z
	(b) Income Tax Effect on above						Ss
	(c Exchange differences in translating financial statements of a foreign operation				12	16	15
	(d) Change in Fair Value of Current Assets regrouped at FV to OCI (Net of Tax)	i	5	11
	Total Other Comprehensive Income 9 Total Comprehensive Income	7 127	5 178	13 151	12 305	18 256	21 1,043
	10 Proifit Attributable to owners of the company
	Non controlling Interest 11 Total Comprehensive Income Attributable to	-	-	-	-	-	-
	owners of the company Non controlling Interest 12 Paid up Equity Share Capital C.-Y. FV Rs.1/- per
	share 13 [Earning per Share	1,956	1,956	1,956	1,956	1,956	1,956
	Basic Diluted	0.06 0.06	0.09 0.09	0.07 0.07	0.15 0.15	0.12 0.12	0.52 0.52
	* Per Equity Share of FV Rs. 1/- each				For Sadhana Nitro Chem Limited
	Place: Mumbai				Abhishek A Javeri

For Sadhana Nitro Chem Limited Abhishek A Javeri

SADHANA NITRO CHEM LIMITED Cad (CIN NO. L24100MH1973PLC016698)

Cad	SADHANA NITRO CHEM LIMITED
2a~a	(CIN NO. L24100MH1973PLC016698) Regd. Office : Hira Baug, 1ST Floor, Kasturba Chowk (C.P. Tank), Mumbai - 400 004 Tel. No. 022-23865629, Fax: 022-23887235, E-mail: sadhananitro@sncl.com, website: www.sncl.com
STATEMENT OF UNAUDITED STANDALONE ASSETS & LIABILITIES AS AT SEPTEMBER 30, 2021
		STANDALONE SIX MONTHS
PARTICULARS		ENDED UNAUDITED	YEAR ENDED AUDITED
A. Assets 1. Non Current Assets		30.09.21	31.03.21
(a) Property, Plant and Equipment		6,754	7,011
i. Tangible ii, Intangible iii, Capital Work-in-Progress		236 3,440	170 2,098
(b) Financial Assets Investments (i)		8	8
(ii) Loans (iii) Other financial assets		954	894
(c) Other non current assets Sub Total (1)		2,298 13,690	2,049 12,230
2. Current assets (a) Inventories (b) Financial Assets		7,980	5,943
(i) Current Investment (ii) Trade Receivables		653 5,600	639 5,832 1,086
(iii) Cash and Cash Equivalents (iv) Bank Balances other than (ji) above (v) Loans		12 190 12	20 11
(vi) Other Financial Assets (c) Other Current Assets		549 1,606	510 1,168
Sub Total (2)		16,602	15,209
Total (1)+(2) EQUITY AND LIABILITIES		30,292	27,439-
Equity (a) Equity Share capital		1,956	1,397
(b) Other Equity Sub Total (1)		41,680 13,636	11,934 13,331
LIABILITIES Non-current liabilities
(a) Financial Liabilities (i) Borrowings (ii) Other financial liabilities		3,897	2,801
(b) Provisions (c) Deferred Tax Liabilities(Net)		228 304	244 292
(d) Other non-current liabilities Sub Total (2)		361 4,790	406 3,743
Current liabilities (a) Financial Liabilities Borrowings (i)		6,593	§,228
(ii) Trade payables (a) Due to Small & Micro Enterprises		105	RA
(b) Due to Other than Micro & Small (iii) Other financial liabilities		2,922 920 398	2,460 866 387
(b) Provisions (c) Income Tax Liabilities (Net) (d) Other current liabilities		449 879	551 802
Sub Total (3)		11,866	10,365
Total (1)+(2)+(3)	i RO :	30,292	27,439
	We SNR a	For Sadhana Nitro Chem Ltd.
	= MUMBANS Op		yee
Place: Mumbai Date: 11.11.2021	A Ss * 6 S	Abhishek A Javeri Managing Director & CFO DIN:00273030

SADHANA NITRO CHEM LIMITED t I ie (CIN NO. L24100MH1973PLC016698)

SADHANA NITRO CHEM LIMITED t I ie
aa (CIN NO. L24100MH1973PLC016698) Regd, Office : Hira Baug, 1ST Floor, Kasturba Chowk (C.P. Tank), Mumbai - 400 004
Tel. No. 022-23865629, Fax: 022-23887235, E-mail: sadhananitro@sncl.com, website: www.sncl.com STATEMENT OF UNAUDITED STANDALONE CASH FLOW STATEMENT AS AT SEPTEMBER 30, 2021
	Six Month Ended		Six Month Ended
PARTICULARS. A, Cash flow from operating activities	30/09/2021		30/09/2020
Profit before tax		395)		248
Adjustments for: Depreciation and amortisation expenses	282		287
Interest on Lease Liability Sundry Balance written off/back	19 (36)		20 0
Finance costs Interest received	142 (69)		24 (55)
Unrealised Foreign Exchange (Gain)/Loss Acturial (Gains) / Losses on defined benefit plans	29 (3)		(34) (4)
(Gain) / Loss on Fair Valuation of Lease Liability	(10)		(30)
(Gain) / Loss on Fair Valuation Changes in Other comprehensive Income	(26) 0	328	(22) 0	186
Operating profit / (loss) before working capital changes		723		434
Changes in working capital:	(2037)
Inventories Trade receivables	323		(71) 283
Loans Other Current Assets	(7) (560)		(4) (133)
Trade Payables Current Liability	132 169		(185) (263)
Provisions	(5)	(4985)	17	(356)
Cash generated from operations		(1262) (197)		78
a.Direct Taxes (Paid) Net cash flow from / (used in) operating activities (A)		(1459)		0 78
B. Cash flow from / (used in) investing activities a,Purchase Of Property , plant and equipment	(1432)		(147),
b.Sale of Property , plant and equipment c, Redemption/(investment) in deposits against BG	0 (171)		0 12
d,Advance given to Capital Expenditure e.Loan given to wholly owned subsidiary	(160) (9)		0 (31)
{Interest received	1	(1761)	76	(90)
Net cash flow from / (used in) investing activities (B)		(1761)		(90)
C. Cash flow from / (used in) financing activities a.Borrowings -Net of Repayment	984		(294)
b. Short Term Borrowing - Net of Repayment b.Preference shares redeemed	313 0		a 0
c.lssue of Equity Share Capital (including prremium)	0 (113)		0 (24)
d.Interest Paid e. Payments towards Lease Liabilities	(55)		(33)
f.Dividend paid including dividend distribution tax	0	1129	0	(351)
Net cash flow from / (used in) financing activities (C) Net increase / (decrease) in Cash and cash equivalents (A+B+C)		1129 (2091)		(351) (363)
Cash and cash equivalents at the beginning of the year Cash acquired on amalgamation		349 0		(395) 0
Cash and cash equivalents at the end of the year		(1742)		(758)
Cash and Cash equivalent as per above comprieses of the following
Cash and cash equivalent as per Note 11 - cash in hand		2,		1
-Balances with Banks (on current accounts)		10 12		29 30
- Bank overdraft / cash credit (Note 15B)		1754		788 (758)
Balance as per statement of cash flows Figures in brackets represent outflows		(1742)
		For Sadhana Nitro Chem Ltd.
py
<{MUMBAI)S x	mn
Op :		Abhishek A Javeri
Place: Mumbai Date: 11.11.2021		Managing Director & CFO DIN:00273030

Notes to Standalone Financial Results:

• 1. The above unaudited standalone financial results have been prepared in accordance with the applicable Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India in compliance with Regulation 33 of the Listing Regulations.
• 1. The above unaudited standalone financial results for the quarter and half year ended 30" September, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 11" November, 2021
• 1. The limited review under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, has been carried out by the statutory auditors. Auditor's Limited Review Report does not contain any observation which would have an impact on the above results.
• 1. The company is primarily engaged in one business segment i.e. manufacturing of chemical intermediates, heavy organic chemicals and performance chemicals which is it's primary segment. The company is also engaged in the manufacture of wireless network equipment & services. However, since the revenue, profits & total assets of this segment is less that 10% of the combined revenue, profits & assets of all the reporting segments, disclosures as required by Ind-As 108, 'Operating Segments' are not given.
• 1. The second wave of Covid-19 has caused further disruptions to businesses across India during the half year ended 30th September, 2021. The management has considered subsequent events internal and external information in finalizing various financial estimates as at the date of approval of these financial results and have not identified any material impact on the carrying value of assets, liabilities or provisions. The management will continue to closely monitor any changes to future economic conditions and assess its impact on the operations.
• 1. The Company has issued and allotted 5,58,90,894 equity shares of Re. 1/- each to eligible shareholders of equity shares on the record date (i.e. 21° July, 2021) as fully paid up bonus equity shares by capitalizing reserves. The earning per share figures for the quarter ended 30" June, 2021, year ended 31% March, 2021 and quarter / half year ended 30" September, 2020 have been restated to give effect to the allotment of the bonus shares, as required by IND-AS 33, 'Earning Per Share'.
• 1. Previous period figures have been regrouped /reclassified, wherever necessary to conform to current period classification.
• 8 Inline with the requirements of Regulation 47(2) of the Listing Regulations, 2015, the results are available on the website of BSE Limited and on the Company's website www.snel.com

By the Order of the Board AM ROS For Sadhapla Nitro Chem Ltd.

Op YY, Managing Director & CFO SS " DIN :00273030

Mumbai, dated: a1" November, 2021

JAYESH DADIA & ASSOCIATES LLP ^| CHARTERED ACCOUNTANTS ==

SSS 422, Arun Chambers, Tardeo, Mumbai - 400034. Tel.: +91-22-66602417 / 66601056 Fax : +91-22-66602418 E-nail: info@jdaca.com Website : www.jdaca.com

Independent Auditor's Review Report on Quarterly Standalone Financial Results

The Board of Directors Mjs. Sadhana Nitro Chem Limited Mumbai,

• 1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of M/s. Sadhana Nitro Chem Limited ('the Company') for the quarter and half year ended 30" September, 2021 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, as amended. This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors in their meeting held on 11" November, 2021. 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 & perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to enquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated 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 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 4, We draw attention to Note 5 to the accompanying Statement with respect to the possible effects that may result fram Covid-19 pandemic and the management's evaluation of its impact on the operations of the Company and on the aforesaid Statement, the extent of which is significantly dependent upon future developments. Our conclusion is not modified in respect of this matter.

For Jayesh Dadia & Associates LLP Chartered Accountants Firm Registration No. 121142W / W100122

oly hil Dadia

Partner Membership No. 143181 Mumbai, dated: 11!" November, 2021 UDIN: 21143181 AA AAFE1319

SADHANA NITRO CHEM LIMITED

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULT FOR THE QUARTER & HALF YEAR ENDED SEPTEMBER 30, 2021

						ANNEXUREB- 4
		SADHANA NITRO CHEM LIMITED	(CIN NO, L24100MH1973PLC016698)
	ae Regd. Office : Hira Baug, 1ST Floor, Kasturba Chowk (C.P. Tank), Mumbai - 400 004 Tel. No. 022-23865629, Fax: 022-23887235, E-mail: sadhananitro@sncl.com, website: www.sncl.com
	STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULT FOR THE QUARTER & HALF YEAR ENDED SEPTEMBER 30, 2021						(Rs. In Lakh)
			CONSOLIDATED		CONSOLIDATED		CONSOLIDATED
		30.09.21	QUARTER ENDED 30.06.21	30.09.20	SIX MONTHS ENDED 30.09.21	30.09.20	YEAR ENDED 31.03.21
	Particulars '	3 Months	3 Months Unaudited	3 Months	6 Months Unaudited	6 Months	12 Months Audited
1	Income	3,160	2,848	2,055	6,008	3,713	10,305
	a) Revenue From Operation b) Other Income	114 3,274	53. 2,901	84 2,139	167 6,175	168 3,881	491 10,796
2	Total Income [Expenses a) Cost of materials consumed	2,042	1,767	1,178	3,809	1,822	5,342
	b) Changes in inventories of finished goods, Work in Progress and Stock in trade	(405)	(440)	(174)	(845)	(124)	(1,305)
	c) Excise Duty id) Employees benefits expense	- 398	- 424	- 356	- 822	- 750	- 1,551
	e) Depreciation and amortisation expenses f) Finance Cost	150 96	150 82	155 82	300 178	309 158	620 343
	g) Other expenses Total expenses	790 3,071	624 2,607	466 2,063	1,414 5,678	846 3,761	2,379 8930
3	Profit/(Loss) before Tax and exceptional items (1-2)	203	294	77	497	120	1,866
4 5	}Exceptional Items Profit/(Loss) before Tax (3+4)	- 203	: 294	7	497	- 120	- 1,866
6	Add / (Less) Tax Expenses (a) Current Tax / Mat	36	59	23	95	31	287
	(b) Mat Credit Entitlement (c) Deferred Tax (Liabilities) / Assets Total Tax Expenses	+ 5 41	- 2 61	- 6 29	7 102	(21) 10	- (14) 273
	Net Profit After Tax (5-6) 8 Other Comprehensive income/(loss)	162	233	48	395	110	1,593
7	(a) Re-measurement on Defined benefit plans (b) Income Tax Effect on above	-	-	2		2	6
	(c )Exchange differences in translating financial statements of a foreign operation
	(d) Change in Fair Value of Current Assets regrouped at FV to OCI (Net of Tax)	7	5	11	12	16	15
	Total Other Comprehensive Income 9 Total Comprehensive Income (7-8)	7 169	5 238	13 61	12 407	18 128	21 1,614
	10 Proifit Attributable to owners of the company
	Non controlling Interest 11] Total Comprehensive Income Attributable to	-	-	-	-	-	-
	owners of the company Non controlling Interest
	12 Paid up Equity Share Capital C.-Y. FV Rs.1/- per share	1,956	1,956	1,956	1,956	1,956	1,956
	13] Earning per Share Basic Diluted	0.08 0.08	0.12 0.12	0.02 0.02	0.20 0.20	0.06 0.06	0.81 0.81
	* Per Equity Share of FV Rs. 1/- each					For Sadhana	Nitro Chem Limited
	Place: Mumbai					ye Abhishek A Javeri Manging Director & CFO

For Sadhana Nitro Chem Limited ye

SADHANA NITRO CHEM LIMITED Caw (CIN NO. L24100MH1973PLC016698)

Caw a Tel. No. 022-23865629, Fax: 022-23887235, E-mail: sadhananitro@sncl.com, website: www.sncl.com	SADHANA NITRO CHEM LIMITED (CIN NO. L24100MH1973PLC016698) Regd. Office : Hira Baug, 1ST Floor, Kasturba Chowk (C.P. Tank), Mumbai - 400 004
STATEMENT OF UNAUDITED CONSOLIDATED ASSETS & LIABILITIES AS AT SEPTEMBER 30, 2021
PARTICULARS.		STANDALONE SIX MONTHS ENDED	YEAR ENDED
		UNAUDITED 30.09.21	AUDITED 31.03.21
A. Assets 4. Non Current Assets
(a) Goodwill on Consolidation (a) Property, Plant and Equipment		636	636
i, Tangible ii. Intangible		6,926. 236	7,201 170
iii. Capital Work-in-Progress (b) Financial Assets		3,440.	2,098
Investments (i) (ii) Loans		- 24	- 17
(iii) Other financial assets (c) Other non current assets		2,298 13,560	2,050 12,172
Sub Total (1) 2, Current assets		8,290	6,632
(a) Inventories (b) Financial Assets (i) Current Investment		653	639
(ii) Trade Receivables (iii) Cash and Cash Equivalents		5,234 37	4,890 1,095
(iv) Bank Balances other than (ii) above (v) Loans		191 12	19 11
(vi) Other Financial Assets (c) Other Current Assets		549 1,704	510 1,267
Sub Total (2)		16,670	15,063
Total (1)+(2)		30,230	27,235
EQUITY AND LIABILITIES Equity
(a) Equity Share capital (b) Other Equity		1,956 11,427	1,397 11,584
Sub Total (1) LIABILITIES		13,383	12,981
Non-current liabilities (a) Financial Liabilities (i) Borrowings		3,897	2,801
(ii) Other financial liabilities (b) Provisions		228	244
(c) Deferred Tax Liabilities(Net) (d) Other non-current liabilities		293 361	282 406
Sub Total (2) Current liabilities		4,779	3,733
(a) Financial Liabilities Borrowings (i) (ii) Trade payables		6,593	§,228
(a) Due to Small & Micro Enterprises (b) Due to Other than Micro & Small		105 2,632	71 2,517
(iii) Other financial liabilities (b) Provisions		925 398	890 387
(c) Income Tax Liabilities (Net) (d) Other current liabilities		958 457	877 551
Sub Total (3)		12,068	10,521
Total (1)+(2)+(3)	so, ROS,	30,230 i	27,235
	ee 2). oN MuMBa)\S S	For Sadhgna Nitro Chem Ltd.
	n 3 Oy	Abhishek A Javeri Managing Director & CFO
Place: Mumbai Date: 11,11,2021	2 ae	DIN:00273030

ANNEXURB: AA

SADHANA NITRO CHEM LIMITED tad (CIN NO. L24100MH1973PLC016698)

SADHANA NITRO CHEM LIMITED tad
aa (CIN NO. L24100MH1973PLC016698) Regd. Office : Hira Baug, 1ST Floor, Kasturba Chowk (C.P. Tank), Mumbai - 400 004 Tel. No. 022-23865629, Fax: 022-23887235, E-mail: sadhananitro@sncl.com, website: www.sncl.com
STATEMENT OF UNAUDITED CONSOLIDATED CASH FLOW STATEMENT AS AT SEPTEMBER 30, 2021
PARTICULARS	Six Month Ended 30/09/2021		Six Month Ended 30/09/2020	(Rs. in Lakh)
A. Gash flow from operating activities Profit before tax		496		120
Adjustments for: Depreciation and amortisation expenses	300)		309
Deficit share in loss of subsidiary on audit of its accounts for the previous year Share based compensation expenses	(5)		(453),
Interest on Lease Liability Sundry Balance written off/back	20 (41) 143}		20 0 24
Finance costs Interest received Unrealised Foreign Exchange (Gain)/Loss	(24) (29)		(22) (34)
Actuarial (gains) / losses on defined benefits plans (Gain)/Loss on fair valuation of lease liability	(3) (10)		(4) (30)
(Gain)/Loss on fair valuation	(26)	325 821	(21)	(211) (91)
Operating profit / (loss) before working capital changes. 'Changes in working capital: Inventories	(1658)		(89)
Trade receivables Loans & Advances	(253) (7)		159 (1)
Other Current Assets Trade Payables	(543) 186		394 (50)
Financial & Current Liability Provisions	198 (5)	(2082)	(250) 19	182
Cash generated from operations a.Direct Taxes (Paid)		(1261) (189)		91 0
Net cash flow from / (used in) operating activities (A} B, Cash flow from / (used in) investing activities		(1450)		91
a.Purchase Of Property , plant and equipment b. Redemption / (investment) in deposits	(1433) (172)		(148) 12
c¢.Sale of Property , plant and equipment d.Advance given to Capital Expenditure e.Loan given to wholly owned subsidiary	(159)		0 0 0
fInterest received	Vi	(1753)	42	(94)
Net cash flow from / (used in) investing activities (B) C. Cash flow from / (used in) financing activities a.Secured Borrowings -Net of Repayment	984	(1753)	(294)	(94)
b.Unsecured Borrowings - Net of Repayment c.Finance Cost Paid	313 (114)		0 (24)
d.Divident Paid e.Payments towards Lease Liability	(55)		0 (34)
f.Changes in Other Equity		1128 1128	0	(352) (352)
Net cash flow from / (used in) financing activities (C) Net increase / (decrease) in Cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the year		(2075) 358		(355) (378)
Cash acquired on amalgamation Cash and cash equivalents at the end of the year		0 (1717)		0 (733)
Cash and Cash equivalent as per above comprieses of the following
Cash and cash equivalent as per Note 117 - cash in hand		2		1
-Balances with Banks (on current accounts) Fixed Deposites shown under cash and cash equivalent		35 Q 37		53) 1 59}
- Bank overdraft / cash credit (Note 15B) Balance as per statement of cash flows		1754 (1717)		788} (733)
Figures in brackets represent outflows
		For Sadhaha	Nitro Chem Ltd.
Place: Mumbai		Abhishek A Javeri Managing Director & CFO
Date: 11.11.2021		DIN:00273030

Notes to Consolidated Financial Results:

• The above unaudited consolidated financial results have been prepared in accordance with the applicable Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India in compliance with Regulation 33 of the Listing Regulations.
• The above unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 11" November, 2021.
• The limited review under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, has been carried out by the statutory auditors. Auditor's Limited Review Report does not contain any observation which would have an impact on the above results
• The above results comprise the results of Sadhana Nitro Chem Limited (Parent Company) and the following two wholly owned subsidiaries:
• a. Spidigo Net Private Limited, India
• b. Anuchem B.V.B.A, Belgium.
• The Group is primarily engaged in one business segment i.e. manufacturing of chemical intermediates, heavy organic chemicals and performance chemicals which is it's primary segment. The Group is also in the manufacture of wireless network equipment & services. However, since the revenue, profits & total assets of this segment is less that 10% of the combined revenue, profits & assets of all the reporting segments, disclosures as required by Ind-As 108, 'Operating Segments' are not given.
• The second wave of Covid-19 has caused further disruptions to businesses across India during the half year ended 30th September, 2021. The management has considered subsequent events internal and external information in finalizing various financial estimates as at the date of approval of these financial results and have not identified any material impact on the carrying value of assets, liabilities or provisions. The management will continue to closely monitor any changes to future economic conditions and assess its impact on the operations of the Group.
• The Parent Company has issued and allotted 5,58,90,894 equity shares of Re. 1/- each to eligible shareholders of equity shares on the record date (i.e. 215t July, 2021) as fully paid up bonus equity shares by capitalizing reserves. The earning per share figures for the quarter ended 30» June, 2020, year ended 31% March, 2021 and quarter / half year ended 30* September, 2020 have been restated to give effect to the allotment of the bonus shares, as required by IND-AS 33, 'Earning Per Share'.
• Opening balance of the reserves of one subsidiary, M/S Spidigo Net Pvt Ltd, was consolidated as at 31st March, 2021 as per the management approved accounts which differed from the Audited accounts prepared subsequently. Accordingly the difference between the audited accounts & management approved accounts as at 31st March, 2021 resulted in a decrease in the reserves of Spidigo Net Private Limited by Rs. 4,94,938/- which is shown as an adjustment to the value of Other Equity during the current reporting period.
• Previous period figures have been regrouped /reclassified, wherever necessary to conform to current period classification.
• 1. In line with the requirements of Regulation 47(2) of the Listing Regulations, 2015, the results are available on the website of BSE Limited and on the Company's website www.sncl.com

By the Order of the Board For Sadhang Nitro Chem Ltd.

(Abhishek Javeri) Managing Director& CFO DIN :00273030

Mumbai, dated: 11 November, 2021

JAYESH DADIA & ASSOCIATES LLP

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422, Arun Chambers, Tardeo, Mumbai - 400034. Tel.: +91-22-66602417 / 66601056 Fax ; +91-22-66602418 E-mail: info@jdaca.com Website : www.jdacacom

Independent Auditor's Review Report on Quarterly Consolidated Unaudited Financial Results

The Board of Directors M/s. Sadhana Nitro Chem Limited Mumbai,

• 1. We have reviewed the accompanying statement of consolidated unaudited financial results ('the Statement') of M/s. Sadhana Nitro Chem Limited ('the Parent') and its subsidiaries (the Parent and its subsidiaries together referred to as the "Group") for the quarter & half year ended 30" September, 2021 (the 'Statement) attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, as amended.
• 1. This Statement is the responsibility of the Parent's Management and has been approved by the Parent's Board of Directors in their meeting held on 11" November, 2021, Our responsibility is to express our 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 & 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 Securities and Exchange Board of India under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• 1. The Statement includes the results of the following wholly owned subsidiaries:
• a. Spidigo Net Private Limited, India
• b. Anuchem B.V.B.A, Belgium
• 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 of unaudited financial results prepared in accordance with Indian Accounting Standards and other accounting principles and policies, generally accepted in India, has not disclosed the

JAYESH DADIA & ASSOCIATES LLP

⁼CHARTERED ACCOUNTANTS ²

• 422, Arun Chambers, Tarcdeo, Mumbai 400034, Tel.: +91-22-66602417 / 66601056 Fax : +91-22-66602418 ' _ E-mail: info@jdaga. ite : www. jdgga ay Asien information required to be discl aga coin AES Repu way dlaga she 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,
• 1. We draw attention to Note 6 to the accompanying Statement with respect to the possible effects that may result from Covid-19 pandemic and the management's evaluation of its impact on the operations of the Group and on the aforesaid Statement, the extent of which is significantly dependent upon future developments. Our conclusion is not modified in respect of this matter.
• We did not review, the interim financial results and other financial information, in respect of one subsidiary, whose interim financial results reflect total assets of Rs. 2,194.47 lacs, total revenue of Rs. 931.67 lacs, total net profit before tax of Rs. 31.11 lacs for the half year ended 30" September, 2021, as considered in these unaudited consolidated financial results, These unaudited financial results and other unaudited financial information have been approved and furnished to us by the management. Our conclusion, in so far as it relates to the affair of this subsidiary, is based solely on such unaudited financial results and other unaudited financial information.

The above subsidiary is located outside India whose financial results and other financial information have been prepared in accordance with accounting principles generally accepted in its country, The Parent's management has converted the financial results of such subsidiary located outside India from accounting principles generally accepted in its country to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Parent's management. Our conclusion so far as it relates to the balances and affairs of such subsidiary located outside India is based solely on such unauclited financial results and other unaudited financial information furnished to us by the management and the conversion adjustments prepared by the management of the Parent and reviewed by us.

Our Conclusion on the Statement is not modified in respect this matters.

For Jayesh Dadia & Associates LLP Cc hartered Accountants Firm Registration No. 121142W / W100122

GG w

Partner Membership No, 143181 Mumbai, dated: 11" November, 2021 'ahil Dadia UDIN: 21143181 AAA AFF7535