Simbhaoli Sugars Ltd — Audit Report / Information 2021

Jul 2, 2021

Ref: SSL: Stock Exchange July 2, 2021

Bombay Stock Exchange Limited PhirozeJeejeebhoy Towers Dalal Street, Fort Mumbai Fax No. 022-22723121/2037/2041

.,.SIMBHAOLI � ���i�:r�imiteO CIN-L 15122UP2011 PLC044210 GSTIN: 09AAPCS7569A1ZV (An FSSC 22000: 2011, ISO 9001 : 2008 & 14001 : 2004 Certified Company) Corporate Office A-112, Sector-63, Noida-201307 (Delhi NCR) INDIA Tel. : +91-120-480 6666 Fax : +91-120-2427166 E-mail : info@simbhaolisugars.com www.simbhaolisugars.com

The National Stock Exchange of India Limited Exchange Plaza, Bandra –Kurla Complex, Mumbai- 400051 Fax No. 022-26598237/38

Scrip Code: NSE: SIMBHALS BSE: 539742 Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Audited Financial Results – News Paper Clippings

Dear Sir,

The Audited Financial Results for the year 2020-21, as approved by the Board of Directors of the Company in their meeting held on Wednesday, June 30, 2021, were published in the Business Standard in the edition on Thursday, July 1, 2021. News - Paper clippings are enclosed.

Please take the above information on records.

Thanking You, Yours faithfully, For Simbhaoli Sugars Limited Kamal Samtani Company Secretary Membership No. F 5140

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Specialty Sugars
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Potable Alcohol Ethanol Power

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8

NEW DELHI | THURSDAY, 1 JULY 2021

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SIMBHAOLI SUGARS LIMITED (Formerly known as 'Simbhaoli Spirits Limited') Regd. Office : Simbhaoli Dist. Hapur (U.P.) - 245207 CIN -L15122UP2011PLC044210 E-mail: info@simbhaolisugars.com Website: www.simbhaolisugars.com

EXTRACT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

		(Rs. in Lacs)	(Rs. in Lacs)	(Rs. in Lacs)	(Rs. in Lacs)	(Rs. in Lacs)
S. No. Particulars		Year ended Quarter ended
		March 31, 2021	December 31, 2020	March 31, 2020	March 31, 2021	March 31, 2020
		Audited #	Unaudited	Audited / recasted #	Audited #	Audited / recasted #
1.	Total income from operations (net)	42,718	25,509	39,153	126,655	108,133
2.	Net Profit/ (loss) for the period before Tax and exceptional items	2,467	(207)	1,672	(521)	(3,819)
3.	Net Profit/ (loss) for the period before Tax and after exceptional items	2,395	(207)	1,672	(593)	(3,819)
4.	Net Profit/ (loss) for the period after Tax and exceptional items	2,369	(204)	1,675	(607)	(3,831)
5.	Total Comprehensive Income for the period [comprising net profit/(loss) for the period (after tax) and Other Comprehensive Income(after tax)]	2,383	(204)	1,390	(593)	(4,116)
6.	Paid up equity share capital (face value Rs.10/- each)	4,128	4,128	4,128	4,128	4,128
7.	Other Equity	-	-	-	-	-
8.	-EPS before exceptional item	5.91	(0.49)	4.06	(1.30)	(9.28)
	-EPS after exceptional item	5.74	(0.49)	4.06	(1.47)	(9.28)

Refer Note no.12

Notes :

1 The above is an extract of the detailed format of financial results for the quarter and year ended March 31, 2021 filed with the Stock Exchange under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of financial results for the quarter and year ended March 31, 2021 are available on the Stock Exchange websites (www.bseindia.com and www.nseindia.com) and the Company's website (www.simbhaolisugars.com). 2 For the year ended March 31, 2021 and in earlier years, the Company has incurred losses due to high sugarcane costs fixed by the state government, and comparatively lower prices of finished sugar due to higher production which are determined by the market forces based on demand-supply situation and other market dynamics. Due to above-stated external factors, the company had incurred huge losses in past resulting in complete erosion of it’s net worth. This has resulted in delay in meeting the payment obligations to the lenders and sugarcane farmers in terms of their respective agreements and understanding. Although, the operations of the Company remained intact at sub-optimum levels over the years and it has been continuously striving for improvement in operation efficiency in form of improvement in sugar recovery, reduction in overheads and other costs etc. The Company has successfully completed crushing for Sugar season 2020-21 in all of its three sugar mills with better operational performance. Recognizing the status of the sugar industry, the state and central governments have taken a number of measures to improve the financial health, support for liquidation of cane arrears, fixing minimum obligation for exports to manage the sugar inventory and providing subsidy to compensate export expenses, fixing minimum support price of sugar, and mandatory blending of ethanol with petrol with long term tendering and providing remunerative price of ethanol etc. All these measures have resulted in revival of the sugar industry and the financial performance of the company has also improved during the year. Further, pursuant to an order of Hon’ble High Court of Uttar Pradesh, the Uttar Pradesh sugar industry as well as the Company is confident to receive accrued benefits from the state government under the erstwhile New Sugar Industrial Promotion Policy (NSIPP 2004-09). On account of delays in servicing of loans, certain lenders to the Company have initiated recovery proceedings at various forums, including filing of applications before the Hon’ble National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 and approached Debt Recovery Tribunals in Delhi and Uttar Pradesh as well. Against a criminal complaint filed by one of the lenders with the investigating agency, the Enforcement Directorate had passed an attachment order on certain assets of the Company to the extent of Rs. 109.80 Crore, against which the Company has preferred an appeal with the appropriate authority and the matter is sub-judice . Enforcement Directorate had proceeded to take the constructive possession of the attached property on which an interim stay has been granted by the Hon’ble Appellate Tribunal. The Company is continuing to pursue a comprehensive debt resolution proposal with all the lenders. The majority of commercial lenders have shown their inclination to accept the debt resolution proposal and accepted the Earnest Money offered thereof while Debt realignment proposal is submitted with other lenders. Considering the steps initiated for achieving turnaround of the Company and sugar sector, ongoing discussions with the lenders for resolution of their dues and continuing manufacturing operations in near foreseeable future with improved operational efficiency, these financial statements are continued to be presented on going concern basis, which contemplates realization of assets and settlement of liabilities, in the normal course of business. 3 Impact of COVID 19 Pandemic The Company has considered the potential impact of spread of Coronavirus Disease (COVID-19), throughout the country, in preparation of financial results for the quarter and year ended March 31, 2021 based on the information available to it up to the date of approval of these financial results. However, the impact of COVID-19 as well as negative outlook of sugar sector on the carrying amount of its property, plant and equipment’s and consequential impairment could not be ascertained and provided for due to non- availability of requisite information on account of lockdown restrictions. The impact of COVID-19 may differ from what has been assessed by the Management as at the date of approval of these financial results. The Company will continue to closely monitor any material change in future economic conditions and take appropriate action as may be required. 4 The credit facilities availed by the Company have been classified as non-performing assets (NPA) by all the lenders and interest thereon is not being charged to the loan accounts by commercial lenders as per RBI’s circular. The Company has submitted comprehensive debt resolution proposals with all the lenders to commensurate with its future cash flows. The majority of commercial lenders have shown their inclination to accept the debt resolution proposal (OTS Proposal) of the Company and accordingly accepted the offered Earnest Money Deposit. Accordingly, the Interest expenses pertaining to commercial lenders, for the quarter and year ended March 31, 2021 amounting to Rs. 4,295 lacs and Rs. 15,461 lacs respectively (previous quarter and year ended March 31, 2020 amounting to Rs. 3,430 lacs and Rs 13,146 lacs respectively) has not been recognized in profit and loss account. A total amount of Rs. 52,916 lacs towards accrued interest has not been provided for in the books of accounts as on March 31, 2021. 5 The Hon’ble High Court of Uttar Pradesh had directed the state government to determine the interest liability for the period of delayed payments of sugarcane price to cane growers for sugar seasons 2012-13 to 2014-15 by the UP sugar industry. No demand, pursuant to the order and for subsequent period has since been received by the Company. Considering this and also prevalent past practices, no such provision towards the interest on delayed payment of cane price has been made in the accounts. 6 In the audited financial statements of Simbhaoli Power Private Limited (‘SPPL’) for the year ended March 31, 2020, the statutory auditor of the SPPL has drawn Emphasis of Matter in respect of following “During the year ended March 31, 2020, Uttar Pradesh Electricity Regulatory Commission (‘UPERC’) has notified UPERC (Captive and Renewable Energy Generating Plants) Regulations, 2019 (‘CRE Regulations, 2019’) which has, inter alia, reduced the tariff applicable to bagasse-based generation plants operating in the state of Uttar Pradesh w.e.f. April 1, 2019. SPPL, along with bagasse-based co-generators operating in the State, have filed a writ petition with Hon'ble High Court of Allahabad, Lucknow Bench, challenging CRE Regulations, 2019 which have been accepted by the Court. Based on the writ petition filed and legal opinion obtained, SPPL has recorded revenue from operations for the period from April 2019 to September 2019 at pre CRE Regulations, 2019 tariff instead at the reduced tariff as per CRE Regulations, 2019. W.e.f. October 1, 2019, SPPL has accounted for sale of power to Uttar Pradesh Power Corporation Ltd. (UPPCL), the customer at reduced tariff rate under protest and subject to outcome of Hon’ble High Court decision on writ petition. SPPL’s computation, shows that revenue from operations for year ended March 31, 2020 would have been lower by Rs. 683 lacs, if accounted for at or basis reduced tariff as per CRE Regulations, 2019. With regard to the above stated conditions and on account of difference in interpretation of certain long term commercial agreements, the statutory auditors of SPPL have drawn material uncertainty related to going concern. 7 In the consolidated financial results of the Company for the quarter and year ended March 31, 2021, the financial results of SPPL, a material subsidiary has not been consolidated, as the quarterly and year ended financial results of SPPL have not been yet finalized and approved till date. The transactions entered into between the Company and SPPL for the year ended March 31, 2021, which have not been eliminated in the consolidated financial results, have resulted in increase in the total revenue by Rs. 2,516 lacs and total expenses by Rs. 1,739 lacs. Further, increase in the balances of subsidiary of Rs. 985 lacs have been included in the consolidated balance sheet in the respective assets heads. 8 During this quarter, the Hon’ble NCLT, Allahabad Bench has passed an order dated March 17, 2021 for the approval of the resolution plan of Uniworld Sugars Private Limited, a joint venture entity. 9 The Company has submitted an application for de-registration of Simbhaoli Global Commodities DMCC, a 100% wholly owned foreign subsidiary company and termination of business and surrender of trade License thereof with Dubai Multi Commodities Centre Authority. 10 The standalone results are available on Company’s website www.simbhaolisugars.com. The particulars in respect of standalone results are as under :

		Notice under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (The Act)	Notice under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (The Act)	Notice under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (The Act)	Notice under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (The Act)	Notice under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (The Act)
	S. NO 1	Name of Borrower(s) (A) LOAN ACCOUNT NO. HLLANOI00380332 1. SIKKA PROMOTERS PRIVATE LIMITED 2. GURINDER SINGH SIKKA 3. KUSHAM KAUR		Particulars of Mortgaged property/ (ies) (B) HOTEL-THE FERN, PLOT NO. 290 & 291 MEASURING 550 SQUARE YARDS SITUATED IN SECTOR – 29,	Date Of NPA(C) **29.04.2021 **	Outstanding Amount ( Rs.) (D) Rs. 24,50,86,059.16 (Rupees Twenty Four Crore Fifty Lakh Eighty Six Thousand
		ALIAS KUSUM KAUR		GURUGRAM – 122001,		Fifty Nine and Paisa
		4. GURNEET SINGH SIKKA 5. H.S.SIKKA ALIAS HARVINDER SINGH SIKKA 6. G.S.PROMOTERS PRIVATE LIMITED		HARYANA.		Sixteen only) as on 29.04.2021
		7. SIKKA KARS GLOBAL PRIVATE
		LIMITED

That the above named borrower(s) have failed to maintain the financial discipline towards their loan account (s) and as per books of accounts maintained in the ordinary course of business by the Company, Column D indicates the outstanding amount. Due to persistent default in repayment of the Loan amount on the part of the Borrower(s) the above said loan account has been classified by the Company as Non Performing Asset (as on date in Column C) within the guidelines relating to assets classification issued by Regulating Authority. Consequently, notices under Sec. 13(2) of the Act were also issued to each of the borrower.

In view of the above, the Company hereby calls upon the above named Borrower(s) to discharge in full his/their liabilities towards the Company by making the payment of the entire outstanding dues indicated in Column D above including up to date interest, costs, and charges within 60 days from the date of publication of this notice, failing which, the Company shall be entitled to take possession of the Mortgaged Property mentioned in Column B above and shall also take such other actions as is available to the Company in law.

Please note that in terms of provisions of sub-Section (8) of Section 13 of the SARFAESI Act, “A borrower can tender the entire amount of outstanding dues together with all costs, charges and expenses incurred by the Secured Creditor only till the date of publication of the notice for sale of the secured asset(s) by public auction, by inviting quotations, tender from public or by private treaty. Further it may also be noted that in case Borrower fails to redeem the secured asset within aforesaid legally prescribed time frame, Borrower may not be entitled to redeem the property.” In terms of provision of sub-Section (13) of Section 13 of the SARFAESI Act, you are hereby prohibited from transferring, either by way of sale, lease or otherwise (other than in the ordinary course of his business) any of the secured assets referred to in the notice, without prior written consent of secured creditor.

Place: GURUGRAM Sd/For Indiabulls Commercial Credit Limited Authorized Officer

(Rs. in lacs) Quarter ended Year ended Particulars (Standalone) 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 Net Sales/Income from operations (Net) 42,588 25,439 35,926 126,278 100,944 Profit/(Loss) before tax 2,521 (203) 1,605 (443) (2,165) Profit/ (Loss) after tax 2,521 (203) 1,605 (443) (2,165) Other Comprehensive Income 11 - (272) 11 (272) Total Comprehensive Income 2,532 (203) 1,333 (432) (2,437) EBITDA 4,179 1,523 3,328 6,171 4,599 11 The figures for the previous year ended March 31, 2020 have been restated in consolidated results on account of consolidation of audited financial results of SPPL for the year ended March 31, 2020 as disclosed in note no. 8 of financial results published on February 12, 2021. Last year consolidated accounts were prepared by consolidating the results of SPPL for the nine months ended December 31, 2019. 12 The figures for the last quarter are the balancing figures between the audited figures in respect of full financial year and the published unaudited year to date figures upto the third quarter of the financial year. 13 Sugar, one of the major businesses of the Company, is a part of seasonal industry. The results may vary from quarter to quarter. 14 The previous periods figures have been regrouped/rearranged wherever necessary. 15 The above results were reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on June 30, 2021. For Simbhaoli Sugars Limited Sd/Gursimran Kaur Mann Place: Simbhaoli (Hapur),India Managing Director Date : June 30,2021 DIN: 00642094

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SIMBHAOLI SUGARS LIMITED

SIMBHAOLI SUGARS LIMITED (Formerly known as 'Simbhaoli Spirits Limited') Regd. Office : Simbhaoli Dist. Hapur (U.P.) - 245207 CIN -L15122UP2011PLC044210 E-mail: info@simbhaolisugars.com Website: www.simbhaolisugars.com
EXTRACT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
		(Rs. in Lacs)
S. No.	Particulars	Quarter ended			Year ended
		March 31, 2021	December 31, 2020	March 31, 2020	March 31, 2021	March 31, 2020
		Audited #	Unaudited	Audited / recasted #	Audited #	Audited / recasted #
1.	Total income from operations (net)	42,718	25,509	39,153	126,655	108,133
2.	Net Profit/ (loss) for the period before Tax and exceptional items	2,467	(207)	1,672	(521)	(3,819)
3.	Net Profit/ (loss) for the period before Tax and after exceptional items	2,395	(207)	1,672	(593)	(3,819)
4.	Net Profit/ (loss) for the period after Tax and exceptional items	2,369	(204)	1,675	(607)	(3,831)
5.	Total Comprehensive Income for the period [comprising net profit/(loss) for the period (after tax) and Other Comprehensive Income(after tax)]	2,383	(204)	1,390	(593)	(4,116)
6.	Paid up equity share capital (face value Rs.10/- each)	4,128	4,128	4,128	4,128	4,128
7.	Other Equity	-	-	-	-	-
8.	-EPS before exceptional item	5.91	(0.49)	4.06	(1.30)	(9.28)
	-EPS after exceptional item	5.74	(0.49)	4.06	(1.47)	(9.28)

Refer Note no.12 Notes : 1 The above is an extract of the detailed format of financial results for the quarter and year ended March 31, 2021 filed with the Stock Exchange under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of financial results for the quarter and year ended March 31, 2021 are available on the Stock Exchange websites (www.bseindia.com and www.nseindia.com) and the Company's website (www.simbhaolisugars.com).

2 For the year ended March 31, 2021 and in earlier years, the Company has incurred losses due to high sugarcane costs fixed by the state government, and comparatively lower prices of finished sugar due to higher production which are determined by the market forces based on demand-supply situation and other market dynamics. Due to above-stated external factors, the company had incurred huge losses in past resulting in complete erosion of it’s net worth. This has resulted in delay in meeting the payment obligations to the lenders and sugarcane farmers in terms of their respective agreements and understanding. Although, the operations of the Company remained intact at sub-optimum levels over the years and it has been continuously striving for improvement in operation efficiency in form of improvement in sugar recovery, reduction in overheads and other costs etc. The Company has successfully completed crushing for Sugar season 2020-21 in all of its three sugar mills with better operational performance. Recognizing the status of the sugar industry, the state and central governments have taken a number of measures to improve the financial health, support for liquidation of cane arrears, fixing minimum obligation for exports to manage the sugar inventory and providing subsidy to compensate export expenses, fixing minimum support price of sugar, and mandatory blending of ethanol with petrol with long term tendering and providing remunerative price of ethanol etc. All these measures have resulted in revival of the sugar industry and the financial performance of the company has also improved during the year. Further, pursuant to an order of Hon’ble High Court of Uttar Pradesh, the Uttar Pradesh sugar industry as well as the Company is confident to receive accrued benefits from the state government under the erstwhile New Sugar Industrial Promotion Policy (NSIPP 2004-09). On account of delays in servicing of loans, certain lenders to the Company have initiated recovery proceedings at various forums, including filing of applications before the Hon’ble National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 and approached Debt Recovery Tribunals in Delhi and Uttar Pradesh as well. Against a criminal complaint filed by one of the lenders with the investigating agency, the Enforcement Directorate had passed an attachment order on certain assets of the Company to the extent of Rs. 109.80 Crore, against which the Company has preferred an appeal with the appropriate authority and the matter is sub-judice . Enforcement Directorate had proceeded to take the constructive possession of the attached property on which an interim stay has been granted by the Hon’ble Appellate Tribunal. The Company is continuing to pursue a comprehensive debt resolution proposal with all the lenders. The majority of commercial lenders have shown their inclination to accept the debt resolution proposal and accepted the Earnest Money offered thereof while Debt realignment proposal is submitted with other lenders. Considering the steps initiated for achieving turnaround of the Company and sugar sector, ongoing discussions with the lenders for resolution of their dues and continuing manufacturing operations in near foreseeable future with improved operational efficiency, these financial statements are continued to be presented on going concern basis, which contemplates realization of assets and settlement of liabilities, in the normal course of business. 3 Impact of COVID 19 Pandemic The Company has considered the potential impact of spread of Coronavirus Disease (COVID-19), throughout the country, in preparation of financial results for the quarter and year ended March 31, 2021 based on the information available to it up to the date of approval of these financial results. However, the impact of COVID-19 as well as negative outlook of sugar sector on the carrying amount of its property, plant and equipment’s and consequential impairment could not be ascertained and provided for due to non- availability of requisite information on account of lockdown restrictions. The impact of COVID-19 may differ from what has been assessed by the Management as at the date of approval of these financial results. The Company will continue to closely monitor any material change in future economic conditions and take appropriate action as may be required. 4 The credit facilities availed by the Company have been classified as non-performing assets (NPA) by all the lenders and interest thereon is not being charged to the loan accounts by commercial lenders as per RBI’s circular. The Company has submitted comprehensive debt resolution proposals with all the lenders to commensurate with its future cash flows. The majority of commercial lenders have shown their inclination to accept the debt resolution proposal (OTS Proposal) of the Company and accordingly accepted the offered Earnest Money Deposit. Accordingly, the Interest expenses pertaining to commercial lenders, for the quarter and year ended March 31, 2021 amounting to Rs. 4,295 lacs and Rs. 15,461 lacs respectively (previous quarter and year ended March 31, 2020 amounting to Rs. 3,430 lacs and Rs 13,146 lacs respectively) has not been recognized in profit and loss account. A total amount of Rs. 52,916 lacs towards accrued interest has not been provided for in the books of accounts as on March 31, 2021. 5 The Hon’ble High Court of Uttar Pradesh had directed the state government to determine the interest liability for the period of delayed payments of sugarcane price to cane growers for sugar seasons 2012-13 to 2014-15 by the UP sugar industry. No demand, pursuant to the order and for subsequent period has since been received by the Company. Considering this and also prevalent past practices, no such provision towards the interest on delayed payment of cane price has been made in the accounts. 6 In the audited financial statements of Simbhaoli Power Private Limited (‘SPPL’) for the year ended March 31, 2020, the statutory auditor of the SPPL has drawn Emphasis of Matter in respect of following “During the year ended March 31, 2020, Uttar Pradesh Electricity Regulatory Commission (‘UPERC’) has notified UPERC (Captive and Renewable Energy Generating Plants) Regulations, 2019 (‘CRE Regulations, 2019’) which has, inter alia, reduced the tariff applicable to bagasse-based generation plants operating in the state of Uttar Pradesh w.e.f. April 1, 2019. SPPL, along with bagasse-based co-generators operating in the State, have filed a writ petition with Hon'ble High Court of Allahabad, Lucknow Bench, challenging CRE Regulations, 2019 which have been accepted by the Court. Based on the writ petition filed and legal opinion obtained, SPPL has recorded revenue from operations for the period from April 2019 to September 2019 at pre CRE Regulations, 2019 tariff instead at the reduced tariff as per CRE Regulations, 2019. W.e.f. October 1, 2019, SPPL has accounted for sale of power to Uttar Pradesh Power Corporation Ltd. (UPPCL), the customer at reduced tariff rate under protest and subject to outcome of Hon’ble High Court decision on writ petition. SPPL’s computation, shows that revenue from operations for year ended March 31, 2020 would have been lower by Rs. 683 lacs, if accounted for at or basis reduced tariff as per CRE Regulations, 2019. With regard to the above stated conditions and on account of difference in interpretation of certain long term commercial agreements, the statutory auditors of SPPL have drawn material uncertainty related to going concern. 7 In the consolidated financial results of the Company for the quarter and year ended March 31, 2021, the financial results of SPPL, a material subsidiary has not been consolidated, as the quarterly and year ended financial results of SPPL have not been yet finalized and approved till date. The transactions entered into between the Company and SPPL for the year ended March 31, 2021, which have not been eliminated in the consolidated financial results, have resulted in increase in the total revenue by Rs. 2,516 lacs and total expenses by Rs. 1,739 lacs. Further, increase in the balances of subsidiary of Rs. 985 lacs have been included in the consolidated balance sheet in the respective assets heads. 8 During this quarter, the Hon’ble NCLT, Allahabad Bench has passed an order dated March 17, 2021 for the approval of the resolution plan of Uniworld Sugars Private Limited, a joint venture entity. 9 The Company has submitted an application for de-registration of Simbhaoli Global Commodities DMCC, a 100% wholly owned foreign subsidiary company and termination of business and surrender of trade License thereof with Dubai Multi Commodities Centre Authority. 10 The standalone results are available on Company’s website www.simbhaolisugars.com. The particulars in respect of standalone results are as under : (Rs. in lacs) Quarter ended Year ended Particulars (Standalone) 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 Net Sales/Income from operations (Net) 42,588 25,439 35,926 126,278 100,944 Profit/(Loss) before tax 2,521 (203) 1,605 (443) (2,165) Profit/ (Loss) after tax 2,521 (203) 1,605 (443) (2,165) Other Comprehensive Income 11 - (272) 11 (272) Total Comprehensive Income 2,532 (203) 1,333 (432) (2,437) EBITDA 4,179 1,523 3,328 6,171 4,599 11 The figures for the previous year ended March 31, 2020 have been restated in consolidated results on account of consolidation of audited financial results of SPPL for the year ended March 31, 2020 as disclosed in note no. 8 of financial results published on February 12, 2021. Last year consolidated accounts were prepared by consolidating the results of SPPL for the nine months ended December 31, 2019. 12 The figures for the last quarter are the balancing figures between the audited figures in respect of full financial year and the published unaudited year to date figures upto the third quarter of the financial year. 13 Sugar, one of the major businesses of the Company, is a part of seasonal industry. The results may vary from quarter to quarter. 14 The previous periods figures have been regrouped/rearranged wherever necessary. 15 The above results were reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on June 30, 2021.

For Simbhaoli Sugars Limited Sd/Gursimran Kaur Mann Place: Simbhaoli (Hapur),India Managing Director Date : June 30,2021 DIN: 00642094

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