Thacker & Co. Ltd. — Interim / Quarterly Report 2020

Aug 7, 2020

07th August, 2020

The Manager, Corporate Relationship Department, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001.

Ref: Scrip Code- 509945

Dear Sir/Ma'am,

Sub: Outcome of Board Meeting

Please be informed that at the Board Meeting held today, our Board of Directors have considered and approved the un-Audited Standalone & Consolidated Financial Results, for the quarter ended on 30th June, 2020. Please find enclosed a copy of the said Results along with Limited Review Reports.

The meeting commenced at 01.00 p.m. and concluded at 1.50.p.m.

Please take the same on record.

Thanking you,

Yours faithfully, For, Thacker And Company Limited

Reena Rapheal Company Secretary & Compliance Officer

Encl: As above.

Regd. Off.: Bhogilal Hargovindas Building, Mezzanine Fl.18/20, K.Dubhash Marg, Mumbai-400001, India Corporate Office: Jatia Chambers, 60 Dr. V.B.Gandhi Marg, Mumbai-400001, India
Tel: 91-22-43553333, Web-Site: www.thacker.co.in, E-mail: thacker@thacker.co.in CIN No.: L21098MH1878PLC000033
GST No.: 27AAACT3200A1Z7

Auditor's Report on Audit of the Standalone Financial Result of the Company pursuant to the regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF THACKER AND COMPANY LIMITED

Opinion

We have audited the accompanying Statement otStandalone Financial Results of TIIACKER AND COMPANY LIMITED("the Company"), for the quarter ended June 30, 2020 attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015. (As amended)

In our opinion and to the best of our information and according to the explanations gives to us the financial results:

• i. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation. 2015 (as arnended)and
• ii. Gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India of the net loss and other comprehensive income and other financial information for the quarter ended June 30, 2020.

Basis for Opinion

We conducted our audit of the Standalonefinancial statements in accordance with the Standards on Auditing specified under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of theStandalonefinancial statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (1CM) together with the independence requirements that are relevant to our audit of theStandalone financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on theStandalonefinancial statements.

Emphasis of Matter

We draw your attentionto these Standalone financial result, which describe the Management's assessment of the impact of COVID-19pandemic and the resultant lockdowns on the significant uncertainties involved in developing some of the estimates involved in preparation of the Standalonefinancial statements including but not limited to its assessment of liquidity and going concern, recoverable value of its property, plant and equipment and the net realisable value of other assets including inventory. Based on information available as of the date, Management believes that no further adjustments are required to the Standalone financial

results. However, it is difficult at this stage to assess the impact of COYID-19 on the revenue and profitability for the whole of F.Y. 2020-202 1 .The situation is changing rapidly giving rise to inherent uncertainty around the extent and timing of thepotential future impact of theCOV1D-19 which may be different from that estimated as at the date of approval of these Standalone financial results. The Company will continue to closely monitor any material changes arising of future economic conditions and impact on its business. Our opinion is not modified in respect of the above matters.

Responsibilities of Management and those charged with governance for the statement

This Standalone financial result has been prepared by the management and approved by the Company's Board of Directors. The Company's Board of Director is responsible for preparation and presentation of the statement that gives a true and fir view of the net profit of the company in accordance with accounting principle generally accepted in India, including Indian Accounting Standard prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principal generally accepted in India, and in compliance with Regulation 33 of the Listing regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalonefinancial statements that give a true and fair view and free from material misstatement, whether due to fraud and error.

In preparing the Standalonefmancial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis ofaccounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the Company's financial reporting process.

Auditors Responsibilities for the Audit of theStandalonefinancial statements

Our objectives are to obtain reasonable assurance about whether theStandalonefinancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SM will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of theseStandalonefinancial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of theStandalonefinancial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of

Page 2 of 3

not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in theStandalonefinancial statements or, if such disclosures are inadequate, to modified our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation structure and content of the Standalonefinancial statements, including the disclosures, and whether theStandalonefinancial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matter that may reasonably be thoughts to bear on our independence, and where applicable, related safeguards.

For and on behalf of A D V and Associates Chartered Accountant FRN: 128045W

PrakashMandhaniya Partner Membership No.: 421679 Date: 07.08.2020 Place: Mumbai UDIN:20421679AAAABT1413

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Auditor's Report on Audit of the Consolidated Financial Result of the Company pursuant to the regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF THACKER AND COMPANY LIMITED

Opinion

We have audited the accompanying Statement ofConsolidated Financial Results of TIIACKER AND COMPANY LIMITED('-the Company"), for the quarter ended June 30, 2020 attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. (As amended)

To our opinion and to the best of our information and according to the explanations gives to us the financial results:

• i. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (as amended)and
• ii. Gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India of the net loss and other comprehensive income and other financial information for the quarter ended June 30, 2020.

Basis for Opinion

We conducted our audit of theConsolidated financial statements in accordance with the Standards on Auditing specified under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of theconsolidatedfinancial statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAl) together with the independence requirements that are relevant to our audit of theConsolidated financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on theconsolidatedfinancial statements.

Emphasis of Matter

We draw your attentionto theseConsolidated financial result, which describe the Management's assessment of the impact of COVID-19pandemic and the resultant lockdowns on the significant uncertainties involved in developing some of the estimates involved in preparation of theConsolidated financial statements including but not limited to its assessment of liquidity and going concern, recoverable value of its property, plant and equipment and the net realisable value of other assets including inventory. Based on information available as of the date, Management believes that no further adjustments are required to theconsolidatedfinancial results. However, it is difficult at this stage to assess the impact of COVTD- 19 on the revenue and profitability for the whole of F.Y. 2020-2021.The situation is changing rapidly giving rise to inherent uncertainty around the extent and timing of thepotential future impact of theCOVID-

Page 1 of

19 which may be different from that estimated as at the date of approval of these consolidatedfinancial results. The Company will continue to closely monitor any material changes arising of future economic conditions and impact on its business. Our opinion is not modified in respect of the above matters.

Responsibilities of Management and those charged with governance for the statement

ThisConsolidated financial result has been prepared by the management and approved by the Company's Board of Directors. The Company's Board of Director is responsible for preparation and presentation of the statement that gives a true and fair view of the net profit of the company in accordance with accounting principle generally accepted in India, including Indian Accounting Standard prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principal generally accepted in India, and in compliance with Regulation 33 of the Listing regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Consolidated financial statements that give a true and fair view and free from material misstatement, whether due to fraud and error.

In preparing theConsolidated financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis ofaccounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the Company's financial reporting process.

Auditors Responsibilities for the Audit of theconsolidatedfinancial statements

Our objectives are to obtain reasonable assurance about whether theconsolidatedfinancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of theseConsolidated financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of theConsolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

Page 2 of 3

• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in theConsolidated financial statements or, if such disclosures are inadequate, to modified our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation structure and content of theconsolidatedfinancial statements, including the disclosures, and whether theconsolidatedfinancial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the Financial Information of the entities within the Group to express an opinion on the consolidated financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matter that may reasonably be thoughts to bear on our independence, and where applicable, related safeguards.

For and on behalf of A D V and Associates Chartered Accountant FRN: 128045W

(•) Y_\ \/

PrakashMandhaniya Partner Membership No.: 421679 Date: 07.08.2020 Place: Mumbai UD1N:2042 167 9AAAABU993 5

Page 3 of 3

$\bullet$

THACKER AND COMPANY LIMITED
CIN: L21098MH1878PLC000033
Tel. No. : Bhogkal Hargovindas Building, Mezzanine Floor, 18/20, K. Dubash Marg, Mumbal 400 001
Tel. No. : 91-22-43553333 E-Mail: thecker@thacker.co.in Website: www.th

Statement of Standalone and Consolidated Audited Financial Results for the Quarter ended 30th June, 2020

	(Rs, in lakhs, unless otherwise stated)
		Standalone					Consolidated
Particulars		Quarter Ended			Year ended		Quarter Ended		Year ended
		30,06,2020	31,03.2020	30.06.2019	31.03.2020	30.06.2020	31.03.2020	36.08.2019	31.03.2020
		(Unaudited)	Audited	(Unaudited)	(Audited)	(Unaudited)	TAudited	(Unaudited)	TAudited!
1	income from operation
	Net sales / Income from operations	47.26	46.96	7.15	165.42	81.58	127.73	72.97	469.74
	Other Operating Income	40.94	90.47	59.80	295.45	48.65	94.13	62.76	306.48
	Total Income from operations (net) [1a + 1b]	94.20	137.43	66.94	460.87	130.23	221.86	136.73	776.21
2	Expenses
$\bullet$	Purchases of stock-in-trade		۰.		٠	9.66	31.22	31,17	149.51
b	Changes in inventories of stock in trade				7.64	5.96	12.38	(0.66)	18.27
٠	Employee benefits expanse	4,59	5.32	5.07	21.64	6.70	11.80	7.17	34.78
	Depreciation and amortisation expense	48.68	52,38	52.60	209.93	49,47	53.37	52.79	213,04
	Finance cost	1,60	2.34	5.05	14.98	1.73	2.47	5.72	16.77
	Other expenses	3.28	8.90	5.95	53.57	16.42	29.46	21.76	124,87
э	Expenses [sum of (a) to (g)] Profit/(Loss) before Tax (1-2)	50.15 36.06	65.92 88.61	63.67 71 71 J	307.96	39.54	140.70	117.77	657.04
	Тах ехрепье	5.87	9.61	0.15	152.91 15.78	40.29 6.94	81.16 17.54	17.96 4.69	219.17 32.85
6	Net Profit from Ordinary Activities Arter Tax (3-4)	30.15	68.91	(1.86)	137.13	33.38	63.62	13.27	188,32
0	Extraordinary items
-7	Net Profit for the period (5+6)	30.18	68.91	(1.88)	137.13	33.35	63.62	13.27	186.32
	Share of profit / (toss) of associates					(7.98)	127.56	81.97	548,24
	Net profit after taxes and share of profit / (loss) of associates
۰	$(7 + 1)$	30.18	58,91	(1.86)	137 13	25.37	191,18	96.24	734,56
$\overline{10}$	Other comprehensive income
	- Changes in fair value of FVOCI equity instruments -Share of changes in fair value of FVOCI equity	29.48	(50.47)	(33.52)	(181.96)	39.73	(78.78)	(45.17)	(245.18)
	Instrument from associate				۰	44.36	(12.07)	22.94	(50.02)
	- Remeasurements of post-employment benefit
	chostons		-	$\overline{\phantom{0}}$	$\blacksquare$	٠	$\overline{\phantom{a}}$
	- Share of Remeasurements of post-employment
	benefit obligations from essociate					(4.87)	(23, 43)	1.27	(19.47)
	Other comprehensive income for the period	29.48	(55.47)	(33.52)	(181.96)	79.22	(114, 23)	(20.96)	(314, 63)
-11	Total comprehensive income for the period (9+10)	69.66	0,44	(35.38)	(44, 83)	104.59	76.90	74.28	419.89
12		10.88
	Paid up Equity Share Capital (face value Re. 1 per share) Reserves excluding Revaluation reserves as par audited balance		10.88	10.88	10.88	10.88	10.88	10.88	10.03
13	sheet of previous accounting year		$\bullet$		998.61	۰			8,070,33
14	Earnings Per Share (EPS) (not annualised):
	(Basic & Diluted)	2.77	5.41	(0.17)	12.60	2,33	17.57	8,75	67,52
		2.77	5.41	(0.17)	12.60	2.33	17.57	8.75	67.52

Segment Reporting for the consolidated Audited financial results for Quarter ended 30th June, 2020
Standalone Consolidated
		Quarter Ended			Quarter Ended			Year ended
Particulars	30.06.2020	31.03.2020	30.08.2019	Year ended 31.03.2020	30.06.2020	31.03.2020	30.06.2019	31,03,2020
	(Unaudited)	(Audited)	(Unaudited)	(Audited)	(Unaudited)	(Audited)	(Unsudited)	Audited
Seament Revenue								$\mathcal{L}^{\text{max}}$
a. Investment & Finance	0.89	39,58	1,01	81.10	0.89	39.58	1.01	01.10
b. Business Central	93.31	97.85	58.10	369.02	93.31	97.85	59.10	369,02
c. Trading Business
-Scanners & related Products					36,03	64.43	68.78	315.35
Others
d. Other Unsilocables			7.84	10.75			7.B4	10,75
Net Sales/Revenue from Operation	84,20	137.43	68.95	480.67	130.23	221.88	135,73	778.22
		٠
Scoment Results z
Profit before interest & Tax a. Investment & Finance		36.11
	(2.29)		(2, 49)	67.04	(2.29)	36,11	(2.49)	67.04
b. Business Centre	/41.63	42.04	1.73	129.21	41.63	42.04	1.73	129.21
c. Trading Business
-Scanners & related Products -Others	۰				4.37	12,77	10.68	68,07
		٠		(15.12)				(15, 12)
d Add/Less: Other Unallocables	(1.69)	(7, 30)	4.11	(13.24)	(1.69)	(7, 30)	4.11	(13.24)
Total Segment Result	37.65	70.86	3.34	167.89	42.02	83,63	23.01	236.96
Less ; e) Interest / finance cost	1.60	2.34	5.05	14.98	1.73	2.47	5.05	16.77
Total Profit/ (Loss) Before Tax	36.05	68.52	(1.71)	162.91	40.29	81.16	17.98	219.15
Capital Employed
[Segment Assets-Segment Liabilities]
a. Investment & Finance	783.80	780.22	928.37	780.22	5,772.62	5,727.29	5,410,61	5,727,29
b. Business Centre	2,109,14	2.096.14	2.159.80	2,096.14	2,109.14	2,096.14	2.159.80	2,096,14
c. Trading Business
-Scanners & related Products					127.82	124.64	169.14	124,64
-Others	0,39	(5.35)	(63.59)	(5, 35)	0.39	(5.35)	(63.59)	(5, 35)
d. Unallocated	67.10	75.81	84.35	75.81	67.10	75.61	84.35	75,81
Total Capital Employed	2,960.43	2.946.82	3.108.93	2,946.62	8,077.07	8,018.64	7,760,31	0,018.64

Statement of Assets and Liabilities as at 30th June, 2020
				(Rs. in lakhs, unless otherwise stated)
PARTICULARS		STANDALONE	CONSOLIDATED
	30.06.2020	31.03.2020	30.06.2020	31.03.2020
	(Unaudited)	(Audited)	(Unaudited)	(Audited)
ASSETS
Non-current assets
a. Property, plant and equipment	2,194.41	2,242.99	2,205.68	2,255.04
b. Intangible Assets	0.45	0.55	0.45	0.55
d. Financial assets
i. Investments	748.40	718.92	5,737.23	5665.99
e. Deferred tax assets (net)	4.48	4.23	6.72	6,48
f. Income tax assets (net)	82.29	85.33	77.85	80.27
Total non-current assets	3,030.03	3,052.02	8,027.93	8,008.33
Current assets
a. Inventories	14.96	14.96	33.51	39.48
b. Financial assets
ill. Trade receivables	-	-	18.76	31.19
iv. Cash and cash equivalents	63.33	61.03	176.97	205.53
v. Other financial assets	3.19	3.19	3.81	3.81
c. Other current assets	65.37	9.98	65.92	13.39
Total current assets	146.85	89.16	298.97	293.40
TOTAL ASSETS	3,176.88	3,141.18	8,326.90	8,301.73
EQUITY AND LIABILITIES
a. Equity
Equity share capital	10.88	10.88	10.88	10.88
b. Other equity
Reserves and surplus	2,949.55	2,935.94	8,066.19	8,007.66
Total equity .	2,960.43	2,946.82	8,077.07	8,018.54
LIABILITIES
Noncurrent liabilities
a. Financial Liabilities	-	-	-	-
b. Employee benefit obligations	-	-	-	-
c. Deferred tax liabilities	-	-	-	-
d. Other non current liabilities	-	-	-	-
Total noncurrent liabilities	-	-	-	-
Current liabilities
a. Financial liabilities
i. Trade payables
- Dues to micro and small enterprises	-	-	-	-
- Dues other than micro and	6.61	6.41	48.34	72.57
small enterprises
- Dues to related parties	-	0.13	0.82	0.13
U. Other financial liabilities	192.37	175.07	170.82	175.07
b. Provisions	7.48	7.48	13,48	13.23
C. Employee benefit obligations	3.35	3.35	3.35	3.35
d. Other current liabilities	6.64	1.92	13.02	15.84
Total current liabilities	216.45	194.36	249.83	' 283.19
Total liabilities	216.45	194.36	249.83	283.19
TOTAL EQUITY & LIABILITIES	3,176.88	3,141.18	8,326.90	8,301.73

Notes:

• 1. The above financial results were reviewed and recommended by the Audit Committee and taken on record by the Board of Directors
• The Limited Review under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 has been carried out by the Statutory $2.$ Auditors.
• Pursuant to an application made by the Company to Reserve Bank of India ('RBI'), for voluntary surrender of its Non-Banking Finance Institution ('NBFI') license, RBI $3.$ vide Order dated November 30, 2018 ('Order') has cancelled its Certificate of Registration as a NBFI, with effect from date of the Order.
• 1. Consequent upon surrender of NBFC license, as aforesaid, these statements have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• 1. The COVID-19 outbreak has developed rapidly in India and across the globe. Measures taken by the Government to contain the virus, like lock-downs and other measures, have affected economic activity and caused disruption to regular business operations. The Company has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amounts of all assets and liabilities including receivables, loans, investments and inventories. While the Management has evaluated and considered the possible impact of COVID-19 pandemic on the financial statements, given the uncertainties around its impact on future economic activity, the impact of the subsequent events is dependent on the circumstances as they evolve.
• 1. The consolidated financials results include results of :-

Name	Relationship
Fujisan Technologies Limited	Subsidiary Company
AMJ Land Holdings Limited	Associate Company
Pudumjee Paper Products Limited	Associate Company

1. The figures for the previous period have been recast/ regrouped wherever necessary to confirm to current period's presentations.

Place: Mumbal Date: 07th August, 2020

FOR Thacker & Company Limited

Arun Kumar Jatia (Director)