Regd. Office 39-A, Extension Street, Kaikattipudur, AVINASHI -641 654, Tamil Nadu, India. Phone +91-4296-714000 E-mail [email protected] Web www.s-p-apparels.com CIN No.: L18101TZ2005PLC012295

August 2021 3th

The Listing Department The Listing Department Phiroze Jeejeebhoy Towers, 'Exchange Plaza', Mumbai 400 001. Mumbai 400 051.

Bombay Stock Exchange Limited National Stock Exchange ofIndia Limited Dalal Street, Bandra-Kurla Complex, Bandra (East),

Scrip Code: 540048 Symbol: SPAL

Dear Sirs,

Sub: Revision in Key highlights FY 2021-2022

Ref: Our Notice dated 07.08.2021.

Further to our outcome filed under Acknowledgement No. 3088807 dated 13.08.2021 in BSE Acknowledgement No 2021/Aug/6295/6312 dated 13.08.2021 in NSE.The Key highlights of the FY 2021-2022 is revised due to typo error. The Stakeholders are advised to take note of the corrected key highlights.

Kindly take the above on your record.

Thanking you,

For S.P.Apparels Limited,

Lad

K.Vinodhini Company Secretary and Compliance Officer

Encl: Annexure Revised Key Highlights and Financial Result

Regd. Office 39-A, Extension Street, Kaikattipudur, AVINASHI -641 654, Tamil Nadu, India. Phone +91-4296-714000 E-mail [email protected] Web www.s-p-apparels.com CIN No.: L18101TZ2005PLC012295

13 August 2021

The Listing Department The Listing Department Phiroze Jeejeebhoy Towers, 'Exchange Plaza', Mumbai 400 001. Mumbai 400 051.

Bombay Stock Exchange Limited National Stock Exchange ofIndia Limited Dalal Street, Bandra-Kurla Complex, Bandra (East),

Scrip Code: 540048 Symbol: SPAL

Dear Sirs,

Sub: Outcome of the Board Meeting

Ref: Our Notice dated 07.08.2021.

Further to our Notice under reference, we wish to inform you that the Board of Directors of the Company at their Meeting held on 13" August, 2021, inter-alia, considered and approved the following items:

Financial Results: Approved the unaudited financial results of the Company for the quarter ended 30" June, 2021, both Standalone Consolidated along with Limited Review Report.
Adjournment of Approval of AGM Notice: Consequent upon the proposal of formation of Wholly Owned Subsidiary, the issuance of AGM notice will be approved in the subsequent Board meeting upon prior intimation to the Stock exchanges.
Proposed formation of Wholly Owned' Subsidiary Company: We would like to inform that the Board of Directors at their meeting held today, have approved incorporation of wholly owned subsidiary of the company in the name and style of "S.P RETAIL VENTURES PRIVATE LIMITED".

The details required under regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are enclosed as Annexure

The Board Meeting Commenced at 12.30 P.M and Concluded at 3.00 P.M.

Regd. Office 39-A, Extension Street, Kaikattipudur, AVINASHI 61 654, Tamil Nadu, India. Phone +91-4296-714000 E-mail [email protected] Web www.s-p-apparels.com CIN No.: L18101TZ2005PLC012295

Kindly take the above on your record.

Thanking you,

For §.P.Apparels Limited,

Land

K.Vinodhini Company Secretary and Compliance Officer

Encl: Annexure Financial Result

Annexure -A

Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

S.No.	Detailstodisclosedberequired	Particulars
	oftheNamedetailsintargetentity,briefsuchasturnoveretc.size,	S.PRETAILVENTURESPRIVATELIMITEDtoundertheisproposedincorporated2013ownedasAct,CompanieswhollyofM/s.ScompanyApparelssubsidiaryLimited.AuthorisedProposedCapital:ofRs.15,00,000/-1,50,000consistingSharesofeachEquityRs.10/-Turnover:NotApplicable
	Whetherthewouldfallacquisitionwithinrelatedandpartytransaction(s)whetherthepromoter/promoterhavegroup/groupcompaniesanyinteresttheinIfentityacquired?beingofnatureinterestanddetailsyes,thereofandwhetherthesamedoneisat"arms' length"	ofownedwhollyIncorporationdoeswithinnotfallsubsidiaryCompanyrelatedtransaction(s).However,partytherelatedissubsidiarywhollyownedofthepartyCompany.whatSaveandmentionedisexcepttheabove,promoter/promotergroup/arenotinterestedingroupcompaniesthetransaction.
	towhichtheentityIndustrybeingacquiredbelongs	TextileIndustry
	andeffectsofObjectsacquisitionbutnotlimiteddisclosureto,(includingofofreasonsfortargetacquisitionitsbusinessoutsidetheifmainentity,isofbusinessoflinethelistedentity)	theofToonObjectsCompany:carrytheofbusinessmanufacturers,exporters,sellers,importers,buyers,dealersandasagents,stockists,distributorsofofandall kindssuppliersreadymadegarments.textiles,clothing,silkcotton,etc.,forofReasonstargetentity:acquisition
EEN.		ofownedwhollyIncorporationtoit toenabletheisonsubsidiarycarryofbusinessRetailrelatedactivities.

	Briefofdetailsoranygovernmentalfortheregulatoryapprovalsrequiredacquisition	NotApplicable,
	Indicativetimeforofperiodcompletiontheacquisition	NotApplicable.
	Natureofconsiderationwhethercashconsiderationorsharedetailsandswapofthesame	LimitedandnomineesM/s.Apparelshavetotosubscribe100%ofproposedtheofsharesS.PRetailVenturesequityPrivateLimitedowned("whollyofcashsubsidiary")bywayconsideration.
	Costoftheoratwhichacquisitionpricethesharesareacquired	NotApplicable.
	ofcontrolPercentageshareholding/ornumberofsharesacquiredand/acquired	100%of equitysharesheldisM/s.byS.PLimitedApparels
10	Brieftheaboutbackgroundentityoftermsofinacquiredproducts/linebusinessofdateacquired,oflastincorporation,historyyearswhichtheinturnover,countryacquiredhasandotherentitypresenceanyinformationsignificantbrief)(in	S.PRetailVenturesPrivateLimitedM/s.tohasbeCompanyproposedtheunderincorporatedAct,Companies2013.Products:Totheofonbusinesscarrymanufacturers,importers,exporters,dealersandassellers,buyers,agents,distributorsofandstockists,suppliersofallkindsreadymadegarments.silktextiles,cotton,etc.,clothing,ofDatetheSinceincorporation:tobeisCompanyyetincorporatedofLastturnover:NotHistoryyearsApplicableIndiaCountry:

S.P.APPARELS LIMITED

KEY FINANCIAL HIGHLIGHTS of Q1 FY 2021-22

PERFORMANCE ON CONSOLIDATED BASIS

CONSOLIDATION BASIS

Revenue for the quarter is Rs.1334.25 millions as against Rs.616.28 millions on YoY basis which is growth of 116.50
Profit after Tax for the quarter Rs. 115.60 millions as against Rs.(58.22) millions loss on YoY basis which is significant growth.
Earnings per share for the quarter Rs. 4.50 as against Rs. (2.27)
The Revenue for the Quarter is Rs. 1334.25 Millions as against Revenue of Rs.1920.52 millions on QoQ basis.
Profit after Tax for the quarter is Rs. 115.60 millions as against Profit Rs. 105.57 millions on QoQ basis which is at growth of 9.50%.

STANDALONE BASIS:

Revenue for the quarter is Rs.1217.61 millions as against Rs.526.19 millions on YoY basis which is growth of 131.40
Profit after Tax for the quarter Rs. 112.19 millions as against Rs.(59.19) millions loss on YoY basis which is significant growth.

DIVISION PERFORMANCE

Garment division revenue stood Rs.117.06 Crs with an EBITDA 26% for this Quarter.
» Retail division revenue stood Rs.4.54 Crs with an EBITDA loss of Rs. 2.41 Crs.

Limited Review report on unaudited quarterly standalone financial results of SP Apparels Limited under Regulations 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2005

To

The Board of Directors of SP Apparels Limited

1. We have reviewed the accompanying Statement of Unaudited Financial Results of SP Apparels Limited ("the Company") for the quarter ended June 30, 2021 ('the Statement'). The Statement has been prepared by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, which has been initialed by us for identification purposes only.
1. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34), as prescribed under Section 133 of Companies Act, 2013 and other accounting principles generally accepted in India. Our responsibility is to issue report on the Statement based on our review.
1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. review of interim financial information consists of n-aking inquiries, primarily of persons responsible fo' financial and accounting matters, and applying analytical and other review procedures. review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing and consequently does not enable us to obtain reasonable assurance that we would become aware of all significant matters that might have been identified in an audit. Accordingly, we do not express an audit opinion.
1. Attention is drawn to the fact that the figures for the months ended March 31, 2021 as reported in these financial results are the balancing figure between audited figures in respect of full previous financial year and the published year to date figures upto the third quarter of the previous financial year. The figures upto the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

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 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.

For ASA Associates LLP Chartered Accountants ICAI Firm Registration No. 009571N/N500006

DK Giridharan Partner Membership No.: 028738 UDIN: 10 2SEADEAWAA CLTDeEL

Place: Avinashi Date: August 13, 2021

CIN: L18101 Chines 39 – A, Extention Street, Kaliparetis LimitedTel : +91-4296-714000, Fax : +91-4296-714280, Treet, Kalikattipudur, Avinashi – 641 654, Tirupur, TamilnaduTel : +91-4296-714000, Fax : +91-4296-714280, Tr

Statement of Unaudited Financial Results for the quarter ended June 30, 2021		Quarter ended June30, 2021	Quarter endedMarch 31, 2021	Quarter ended June30, 2020	For the year endedMarch 31, 2021
		[Unaudited]	[Audited]	[Unaudited]	[Audited]
Particulars	S.No	Rs in Millions	Rs in Millions	Rs in Millions	Rs in Millions
Revenue from operationsIncome		214.62	1,696.81	523.31	5,755.16
Other income	$\sim$ $\sim$	2.99	5.91	2.88	11.72
Total Income $(3 = 1+2)$		1,217.61	1,702.72	526.19	5,766.88
Expenses
Purchases of Stock-in-Trade - Traded goodsCost of materials and services consumed	400	471.6452.37	514.8571.09	220.07	,782.68
Changes in inventories of finished goods, stock-in-trade and work-in-progress -		(201.32)	82.90	(113.28)13.64	240.19(26.97)
(Increase)/Decrease		322.69	668.84	120.43	.995.90
Employee benefits expense		320.56	446.94	173.60	479.67
Finance costs		30.75	22.09	43.82	137,60
Depreciation and amortisation expenseOther expenses	$\sim$ 0002	88,48290.39	341.8680.17	85.47162.06	340.05
Total Expenses $(11 = 4 to 10)$		,052.87	,559.90	585.38	,274.705,227.92

Profit/ (Loss) before exceptional items and tax (12 = 3 less 11)		164.74	142.82	(59.19)	538.96
Exceptional Items	13		ı	ï
Net Profit/(Loss) for the period before tax (14 = 12 less 13)		164.74	142.82	(65, 19)	538.96
Tax expense:
(a) Current tax expense		41.46	61.05		160.75
(b) Short / (Excess) provision for tax relating to prior years(c) Deferred Tax		11.09	(16.44)		4.59(13.22)
Tax expense $(15 = a+b+c)$		52.55	44.61		152.12

Net Profit/(Loss) for the period after tax (16 = 14 less 15)		112.19	98.21	(59, 19)	386.84
(ii) Income tax relating to items that will not be reclassified to Profit or LossA (i) Items that will not be reclassified to Profit or LossActuarial gain/(loss) on defined benefit plansOther Comprehensive income for the period			$(11.51)$$(103.18)$		$(23.01)$$(100.28)$
The effective portion of gain//(loss) on hedging instruments in a cash flow hedgeB (i) Items that will be reclassified to Profit or Loss		(1.88)	24.19	33.76	50.46
(ii) Income tax relating to items that will be reclassified to Profit or LossTranslation difference		0.47	(6.09)		(12.70)
Total Other Comprehensive income (net of taxes) (17)		(1.41)	(96, 59)	33.76	(85.53)
Total Comprehensive income/(loss) for the period after tax (18 =16 plus 17)		110.78	1.62	(25.43)	301.31
Pald-up equity share capital (face value Rs. 10/-) [Amount]		25,69,26,000	25,69,26,000	25,69,26,000	25,69,26,000
Earning Per Share (Rs.) - Basic and Diluted [Net Profit/(loss) for the period aftertax/Weighted average number of equity shares]		4.37	3.82	(2.30)	15.06
		[Not annualised]	[Not annualised]	[Not annualised]	[Annualised]

TD., $\frac{1}{\sqrt{2}}$ c WASAWI AREI

See accompanying notes to the Financial Results

The above unaudited standalone financial results for the quarter ended June 30, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on August 13, 2021.
This statement has been prepared in accordance with the recognition principle laid down in Indian Accounting Standards 34 "Interim Financial Reporting" [IND AS 34], prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies.

The company operates in one segment (i.e.,) Textile business, which in the context of Indian Accounting standard (IND AS)108 - operating segment, is considered as the only reportable operating segment of the company.

$4.7$ he results for the quarter ended March 31, 2021 is the balancing figures between standalone audited figures of the twelve months ended March 31, 2021 and the published unaudited results of nine months ended December 31, 2020 of the previous financial year, which were subjected to limited review,5. As per interim directions given by Supreme court in relation to WRIT PETITION (C) DIARY No. 10983 OF 2020 d

been no denial from employees.

its capital and financial resources, profitability, liquidity position, internal financial contris and, is of the view that based on its present assessment, the carrying amount of the assets will berecovered and no materi 6. Due to the second wave of spreading of COVID-19 across India, the State Government of Tamil Nadu announced a lockdown in the months of April 2021 till June 2021, [the Company suspended operation across various locations during complete lockdown days], which was extended with various restrictions to contain the spread of the virus The Company has adopted considered internal and external information and has performed an analysis based on current estimates while assessing the recoverability of assets including trade receivables, inventory and other current / non-current assets (net of provisions established) for any possible impact on the standalone financial results. The Company has also assessed the impact of this whole situation on measures to curb the spread of infection in order to protect the health of its employees and ensure business continuity with minimal disruption. In view of the pandemic, the Company has fnancial obligations for the financial year 2021-22. In this regard, the Company will continue to closely monitor any material changes to future economic conditions,7. The Code on Social Security 2020 has been notified in

other social security. The effective date from which the changes are applicable is yet to be notified, and the rules are yet to be framed. Impact, if any, of the change will be assessed and accounted in period of notification of the relevant provisions. 8. Pursuant to the approval granted by the Union Cabinet on July 14, 2021 for continuation of Rebate of Side and Central Taxes and Levies (RoSCTL) with the same rates as notified by Ministryof Textiles vide notification d the period from January to June 2021.9. Previous period figures have been regrouped / reclassified, wherever necessary, to confirm to the current period classification / presentation.

For S.P.Apparels Limited Managing DirectorDIN : 00003380 P.Sundararajan

$\frac{1}{2}$

Place : Avinashi

Date: August 13, 2021

Chief Financial Office:

Place : Avinashi

Date: August 13, 2021

Limited Review report on unaudited quarterly consolidated financial results of SP Apparels Limited under Regulations 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2005

To the Board of Directors of S. P. Appareis Limited

We have reviewed the accompanying Statement of Unaudited Financial Results (Consolidated) of 5. P. Apparels Limited ('the Holding Company') and its subsidiaries (the Holding company and its subsidiaries together referred to as 'the Group') for the quarter end June 30, 2021, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Listing Regulations 2015'), which has been initialed by us for identification purposes.
This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34), as prescribed under Section 133 of Companies Act, 2013 and other accounting principles generally accepted in India. Our responsibility is to issue report on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, 'Review of Interim Financial information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. 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.
review is substantially less in scope than an auc't conducted in accordance with the Standards on Aviiting and consequently does not enable us to obtain reasonable assurance that we would become aware of al significant matters that might have been identified in an audit. Accordingly, we do not express an audit opinion.

The Statement includes the results of the following entities:

a. SP Apparels Limited (Holding Company)

b. Crocodile Products Private Limited (Holds 70%)
c. Apparels (UK) (P) Limited (Wholly owned subsidiary).

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

The consolidated financial results includes the interim financial results of two subsidiaries reflecting total revenue of Rs 116.64 million for the quarter ended June 30, 2021 and Total Comprehensive Income of Rs (0.91) million for the quarter ended June 30, 2021 as considered in the consolidated financial results. These financial information/financial results have not been reviewed by their auditors, we have been provided with the financial information by the management and our conclusion on the statements, in so far as it relates to the amounts and disclosures included in respect of those subsidiaries, is based solely on the data provided by management and the we have not carried out any other procedures.
Based on our review conducted as stated above and except for the possible effects of the matter described in paragraph above, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with Ind AS and other recognized accounting practices and policies, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For ASA Associates LLP

Chartered Accountants Firm Registration No: 009571N/N500006. UDIN: At ts GOS oH va

remmal Ve

NENC906

WE CoS Giridharan- Partner Membership No: 028738

Place: Avinashi Date: August 13, 2021

S.P. Apparels Limited of Society Andres Limited (ביו השפות השפות) ה- Tel: +91-4296-714000, Fax: +91-4296-714280, Fax: +91-4296-714280, Fax: +91-4296-714280, Fax: +91-4296-714280, Fax: +91-4296-714280, Fax: +91-4296-71428

				(Rupees in millions except EPS and unless otherwise stated)
Statement of Unaudited Consolidated Financial Results for the quarterended June 30, 2021		Quarter endedJune 30, 2021	March 31, 2021Quarter ended	Quarter endedJune 30, 2020	For the year endedMarch 31, 2021
		[Unaudited]	[Audited]Rs in Millions	[Unaudited]Rs in Millions	[Audited]
Particulars	S.No	Rs In Millions			Rs In Millions
Revenue from operationsOther income	$\sim$ $\sim$	1,330.783.47	1,916.23	612.46	6,523.14
Total Income $(3 = 1+2)$		1,334.25	1,920.52	616.28	13.766,536.90
Cost of materials and services consumedExpenses		471.64	514.85269.72	220.07	1,782.68
Changes in inventories of finished goods, stock-in-trade and work-Purchases of Stock-in-Trade - Traded goods	456	160.56	82.92	(11.51)98.70	(25.15)940.20
in-progress - (Increase)/Decrease		430.88	867.49	207.26	2,697.73
Employee benefits expense		31.95324.09	450.72	174.70	1,491.65
Depreciation and amortisation expenseFinance costs	$\sim$ $\infty$ $\infty$	84.23	75.66	47.8681.23	142.75323.05
Total Expenses $(11 = 4 to 10)$Other expenses		294.95,166.10	351.24,768.64	163.45674.50	1,290.305,945.48
Profit/ (Loss) before exceptional items and tax (12 = 3 less 11)		168.15	151.88	(58.22)	591.42
Net Profit/(Loss) for the period before tax (14 = 12 less 13)Exceptional Items	13	168.15	151.88	(58.22)	591.42
Tax expense:
(b) Short / (Excess) provision for tax relating to prior years(a) Current tax expense		41.46	61.91	$\lambda$	167.494.59
Tax expense $(15 = a+b+c)$(c) Deferred Tax		11.09	(15, 60)		$\frac{(12.38)}{159.70}$
		52.55	46.31
Profit for the year from continuing operations		115.60	105.57	(58.22)	431.72
Net Profit/(Loss) for the period after tax (16 = 14 less 15)		115.60	105.57	(58.22)	431.72
(ii) Income tax relating to items that will not be reclassified to ProfitA (i) Items that will not be reclassified to Profit or LossActuarial gain/(loss) on defined benefit plansOther Comprehensive income for the periodor Loss		$\mathbf{r}$	(11.51)(103.18)		(23.01)(100.28)
The effective portion of gain//(loss) on hedging instruments in aB (i) Items that will be reclassified to Profit or Losscash flow hedge		(1.88)	24.19	33.76	50.46
(ii) Income tax relating to items that will be reclassified to Profit orTranslation differenceLoss		0.47	(6.09)	$,$	(12.70)
Total Other Comprehensive Income (net of taxes) (17)		(1.41)	(96.59)	33.76	(85.53)
Minority Interest (18)		0.03	0.24		0.34
Total Comprehensive income for the period after tax (19 =16plus 17 plus 18)		114.22	9.22	(24.46)	346.53
Paid-up equity share capital (face value Rs. 10/-) [Amount]		25,69,26,000	25,69,26,000	25,69,26,000	25,69,26,000
Earning Per Share (Rs.) - Basic and Diluted [Net Profit/(loss) for theperiod after tax/Weighted average number of equity shares]		4.50	4.11	(2.27)	16.80
		[Not annualised]	[Not annualised]	[Not annualised]	[Annualised]

See accompanying notes to the Financial Results

The above unaudited consolidated financial results for the quarter end June 30, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on August 13, 2021.
This statement has been prepared in accordance with the recognition principle laid down in Indian Accounting Standards 34 "Interim Financial Reporting" [IND AS 34], prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies
The company operates in one segment (i.e.,) Textile business, which in the context of Indian Accounting standard (IND AS)108 - operating segment, is considered as the only reportable operating segment of the company
The results for the quarter ended March 31, 2021 is the balancing figures between consolidated audited figures of the twelve months ended March 31, 2021 and the published unaudited results of nine months ended December 31, 2020 of the previous financial year, which were subjected to limited review.5. As per interim directions given by Supreme court in relation to WRIT PETITION (C) DIARY No

settlement with the employees for non-payment of salary during factory lockdown period from April 01, 2020 to May 11, 2020. The Company have communicated their steps to the employees and there have been no denial from employees

receivables, inventory and other current / non-current assets (net of provisions established) for any possible impact on the consolidated financial results. The Company has also has adopted measures to curb the spread of infection in order to protect the health of its employees and ensure business continuity with minimal disruption. In view of the pandemic, the assessed the impact of this whole stuation on its capital and financial resources, profitability, liquidity position, internal financial controls etc., and is of the view that based on its presentassessment, the carrying 6. Due to the second wave of spreading of COVID -19 across India, the State Government of Tamil Nadu announced a lockdown in the months of April 2021 till ulune 2021, [the Company has considered internal and external information and has performed an analysis based on current estimates while assessing the recoverability of assets including trade that the Company will not have any challenge in meeting its financial obligations for the financial year 2021-22. In this regard, the Company will continue to closely monitor any material Company suspended operation across various locations during complete lockdown days), which was extended with various restrictions to contain the spread of the virus The Company changes to future economic conditions.

Gratulty and other social security. The effective date from which the changes are applicable is yet to be notified, and the rules are yet to be framed. Impact, if any, of the change will be 7. The Code on Social Security 2020 has been notified in the Official Gazette on September 29, 2020, which could impact the contributions by the company towards Provident Fund assessed and accounted in period of notification of the relevant provisions.

The consolidated financial results includes the interim financial results of two subsidiaries which have been consolidated based on management accounts, whose interim financialresults reflect total revenue of Rs. 116.6 considered in the consolidated financial results.
Pursuant to the approval granted by the Union Cabinet on July 14, 2021 for continuation of Rebate of State and Central Taxes and Levies (RoSCTL) with the same rates as notified by Ministry of Textiles vide notification dated March 8, 2019 on exports of Apparel /Carments and Made ups, the Group has recognised the benefit of RoSCTL during the quarter ended June 30, 2021 for the period from January to June 2021.
Previous period figures have been regrouped / reclassified, wherever necessary, to confirm to the current period classification / presentation.

For S.P.Apparels Limited Managing Director P.Sundararajan DIN: 00003380

Place : AvinashiDate : August 13, 2021

D ARE

Chief Financial Officer V.Balaji

Date: August 13, 2021 Place : Avinashi

AI assistant

S.P. Apparels Limited Board/Management Information 2021