Themis Medicare Ltd. — Annual Report 2021

May 27, 2021

TML: CS: BDM-38/ 2021-22 27th May, 2021

BSE Limited, P. J. Towers, Dalal Street, Mumbai-400001

National Stock Exchange of India Ltd. "Exchange Plaza", Bandra – Kurla Complex, Bandra – East, Mumbai- 400 051

Dear Sir/Madam,

Sub: Outcome of the Board Meeting

Meeting Commencement time	:	11:15 A.M.
Meeting Conclusion Time	:	02: 30 P.M.

The Board of Directors at its meeting held today, considered and approved the following matters:

1. Approved the Audited Standalone and Consolidated financial results for the Quarter and Year ended 31st March, 2021.

A copy of Audited Standalone and Consolidated Financial Results for the Quarter and Year ended 31st March, 2021 is enclosed herewith. (Annexure I)

• 1. Recommended dividend for Financial Year ended 31.03.2021 of Rs.4.30/- (Re only.) i.e. @ 43% per equity share having face value of Rs.10/-, aggregating to Rs. 395.10 lacs. The payment is subject to the approval of shareholders at the ensuing AGM.
• 1. Considered the appointment of M/s. B.J. D. Nanabhoy & Co., Cost Accountant as the Cost Auditors of the Company for the FY 2021-22.
• 1. Appointed Mr. Shirish Shetye, designated partner of SAV & Associates LLP, Practicing Company Secretaries, as the Scrutinizer for conducting E-Voting and Poll at the 51st Annual General Meeting.
• 1. Allotted 5508 Equity Shares to eligible employees' pursuant to exercise of ESOP Options under Themis ESOS Scheme 2012.

Themis Medicare Limited

Corporate Office: 11/12 Udyog Nagar, S V Road, Goregaon (W), Mumbai – 400 104, India *Tel.: 91-22-67607080*Fax: 91-22-67607070/ 28746621 Regd. Office: Plot No. 69-A, G.I.D.C., Industrial Estate, Vapi-Gujarat CIN No.: L24110GJ1969PLC001590 *Tel/ Fax No.: Regd. Off.: 0260-2431447/ 2430219 *E-mail: themis@themismedicare.com*Website: www.themismedicare.com

As reported in the attached Financial Results, the figures of quarter ended March 31, 2021 and March 31, 2020 are the balancing figures between audited figures in respect of full financial year and published year-to-date figures upto the third quarter of the year ended March 31, 2021 and March 31, 2020, respectively.

We further state that M/s. R. P. Sardar & Co., Chartered Accountants, Statutory Auditors of the Company, have issued Audit Report with unmodified opinion on the Financial Results for the Quarter and year ended 31.03.2021. We have enclosed herewith the Declaration pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016. (Annexure II)

This may be taken as compliance under the Listing Regulations.

Kindly acknowledge.

Thanking you, Yours faithfully, For THEMIS MEDICARE LIMITED

SANGAMESH SANGAMESHWAR RIYER WAR RIYER Pate: 2021.05.27 14:21:29

Sangameshwar Iyer Company Secretary & Compliance Officer

Themis Medicare Limited

Corporate Office: 11/12 Udyog Nagar, S V Road, Goregaon (W), Mumbai - 400 104, India *Tel.: 91-22-67607080*Fax: 91-22-67607070/28746621 Regd. Office: Plot No. 69-A, G.I.D.C., Industrial Estate, Vapi-Gujarat CIN No.: L24110GJ1969PLC001590 *Tel/ Fax No.: Regd. Off.: 0260-2431447/2430219 *E-mail: themis@themismedicare.com*Website: www.themismedicare.com

R. P. Sardar & Co. Chartered Accountants

102, Beuna Vista, Next to ICICI Bank, Holy Cross Road, I. C. Colony, Borivali (West), Mumbai - 400 103. Tel.: 2893 3556 / 6563 3556 · Mobile : 98212 16687 E-mail: rpsardar@gmail.com

Independent Auditors' Report On Standalone Annual Financial Results Of Themis Medicare Limited pursuant to The Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (As Amended)

To The Board of Directors of Themis Medicare Limited

Report on the audit of the Standalone Annual Financial Results

Opinion

We have audited the accompanying standalone annual financial results of THEMIS MEDICARE LIMITED ("the Company") for the year ended 31 March, 2021, attached herewith being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone annual Financial Results:

• (i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; 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 Profit and other comprehensive income and other financial information of the Company for the year ended 31 March, 2021.

Basis for Opinion on the Audited Standalone Financial Results for the year ended March 31, 2021

We conducted our audit in accordance with Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company in accordance with Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the

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Standalone Financial Results for the year ended March 31, 2021 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the standalone annual financial results.

Management's and Board of Directors' Responsibilities for the Statement

The Standalone Financial Results have been prepared on the basis of the standalone financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Act and other accounting principles 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 of 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 the 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 standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone annual financial results, the Management and the Board of Directors are 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 of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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

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Auditor's Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2021

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results for the year ended March 31 2021 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 this Standalone Financial Results.

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

• Identify and assess the risks of material misstatement of the standalone annual financial results, 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 control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to standalone financial statements 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 in the standalone annual financial results made by the Management and Board of Directors.
• Conclude on the appropriateness of the Management and Board of Directors 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 appropriateness of this

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assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone annual financial results or if such disclosures are inadequate, to modify 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 Annual Standalone Financial Results, including the disclosures, and whether the Annual Standalone Financial Results 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 our 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 matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

The standalone annual financial results include the results for the quarter ended 31 March 2021 being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

For R.P. Sardar & Co. Chartered accountants (Firm's Registration No.-109273W)

Raiu P. Sardar (Proprietor) (Membership No. 037845) UDIN: 21037845AAAAJP6853

Place: Mumbai Date: 27th May, 2021 $RDA$

R. P. Sardar & Co. Chartered Accountants

102, Beuna Vista, Next to ICICI Bank, Holy Cross Road, I. C. Colony, Borivali (West), Mumbai - 400 103. Tel.: 2893 3556 / 6563 3556 · Mobile : 98212 16687 E-mail: rpsardar@gmail.com

Independent Auditors' Report on Consolidated Financial Results Of Themis Medicare Limited Pursuant To The Regulations 33 of the SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (As Amended)

To The Board of Directors of Themis Medicare Limited

Opinion

We have audited the accompanying Consolidated Financial Results ("the Statement") of THEMIS MEDICARE LIMITED ("the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), and its joint venture for the year ended 31st March, 2021, attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended) ("the Listing Regulations"), including relevant circulars issued by the SEBI from time to time.

Opinion on Annual Consolidated Financial Results

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports of the other auditors on separate financial statements of subsidiaries referred to in Other Matters section below, the Statement for the year ended March 31, 2021:

$(i)$ Includes the results of the following entities:

Subsidiaries

• a. Carpo Medical Limited (UK)
• b. Themis lifestyle Private limited
• c. Artemis biotech Limited

Associates

• a. Gujarat Themis Biosys Limited
• b. Long Island Nutritionals Private Limited

Associate (Joint Venture)

• a. Richter Themis Medicare (India) Private Limited
• Is presented in accordance with requirements of Regulation 33 of the SEBI (Listing $(ii)$ Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

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Gives a true and fair view in conformity with the applicable Indian Accounting $(iii)$ Standards ("Ind 34") prescribed under section 133 of the Companies Act 2013 ('the "Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India of the consolidated net profit after tax and other comprehensive income and other financial information for the Group and its joint venture for the year ended March 31, 2021.

Basis for Opinion on the Audited Statement for the year ended March 31, 2021.

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act 2013 ("the Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Group and its joint ventures, in accordance with Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the Consolidated Financial Statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us and audit evidence obtained by the other auditors in terms of their reports referred to in Other Matters section below, is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of management and Those Charged with Governance for the Statement

The Statement, which is the responsibility of the Holding Company's management and has been approved by the Holding Company's Board of Directors, has been prepared on the basis of the consolidated annual audited financial statements. The Holding Company's Board of Directors is responsible for the preparation and presentation of the Statement that gives a true and fair view of the consolidated net profit or loss after tax and other comprehensive income, and other financial information of the Group including its joint venture in accordance with the accounting principles generally accepted in India, including the Ind AS prescribed under section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

The Holding Company's Board of Directors is also responsible for ensuring accuracy of records including financial information considered necessary for the preparation of the Statement. Further, in terms of the provisions of the Act, the respective Board of Directors/ management of the companies included in the Group and joint venture, covered under the Act, are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding of the assets of the Group, and its joint venture, and

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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 financial results, that give a true and fair view and are free from material misstatement, whether due to fraud or error. These financial results have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group and of its joint venture, are responsible for assessing the ability of the Group and of its joint venture, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting, unless the respective Board of Directors/ management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors/ management of the companies included in the Group and of its joint venture, are responsible for overseeing the financial reporting process of the companies included in the Group and of its joint venture.

Auditor's Responsibilities

(a) Audit of the Statement for the year ended March 31, 2021

Our objectives are to obtain reasonable assurance about whether the Statement for the vear ended March 31 2021 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 Standards on Auditing (SAs), specified under section 143(10) of the Act, 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 this Statement.

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

Identify and assess the risks of material misstatement of the Statement, 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

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higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Holding Company has adequate internal financial controls with reference to financial statements 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 the 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 ability of the Group and its joint venture, 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 the statement or if such disclosures are inadequate, to modify 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 Group and its Joint venture to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial statements / financial information of the entities within the Group and its joint venture to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Statement, of which we are the independent auditors. For the other entities included in the Statement, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors 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 our audit.

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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 matters that may reasonably be thought to bear on our independence, and where applicable related safeguards.

with Circular SEBI accordance performed procedures in We also CIR/CFD/CMD1/44/2019 dated 29 March, 2019, issued by the SEBI under Regulation 33(8) of the Listing Regulations to the extent applicable.

Other Matters

• We did not audit the financial statements of one out of three subsidiaries whose financial statements reflect total assets of Rs. 1.01 lakh and total revenues of Rs. Nil and Rs. Nil for the quarter and year ended March 31, 2021 respectively, total net Loss after tax of Rs.35.41 Lakh and Rs.39.02 Lakh for the quarter and year ended March 31, 2021 respectively and total comprehensive income of Rs. (10.32) Lakh and Rs. (22.05) Lakh for the quarter and year ended March 31, 2021 respectively and net cash Inflow amounting to Rs. Nil for the year ended March 31, 2021, as considered in the Statement.
• We did not review the financial results of 2 associate & 1 Joint Venture included in the consolidated financial statements, whose financial statements reflect net profit (total comprehensive income after tax) of Rs.159.29 Lakh and Rs. 947.47 Lakh (represents Group's share) for the quarter and year ended March 31, 2021 respectively. These financial statements have been reviewed by other auditor whose review report has been furnished to us by the Company's management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the associate & Joint Venture, is based solely on the report of the other auditor and our opinion is based solely on the report of such other auditor.
• One subsidiary which is located outside India whose financial statements and other financial information have been prepared in accordance with accounting principles, generally accepted in the country and which have been audited by other auditor under generally accepted auditing standards applicable in the country. The Company's management has converted the financial statement of such subsidiary located outside India from accounting principles generally accepted in its country to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Company's management. Our opinion in so far as it relates to the balances and affair of

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such subsidiary located outside India is based on the report of the other auditor and the conversion adjustments prepared by the management of the Company and audited by us.

• Our report on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.
• The Statement includes the consolidated financial results for the Quarter ended 31 March 2021 being the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report is not modified in respect of this matter.

For R.P. Sardar & Co. Chartered accountants (Firm's Registration No.-109273W)

Dori

Place: Mumbai Date: 27th May, 2021

Raju P. Sardar (Proprietor) (Membership No. 037845) UDIN: 21037845AAAAJQ4175 $RDA/$

IUMBALIA 03784

THEMIS MEDICARE LTD

CIN NO: L24110GJ1969PLC001590

Regd. Off. Plot No. 69A, GIDC Indl. Estate, Vapi - 396195, Dist Valsad, Gujarat. (T) 0260-2431447 / 0260-2430219. Corporate Office: 11/12, Udyog Nagar, S. V. Road, Goregaon (West), Mumbai-400 104. Email ID : themis@themismedicare.com. Website Address : www.themismedicare.com.

Statement of Audited Financial Results for the quarter and year ended 31st March 2021.

	(Amount in INR Lakhs)
	STANDALONE
	Particulars		Quarter Ended			Year Ended
		31/03/2021	31/12/2020	31/03/2020	31/03/2021	31/03/2020
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
$\mathbf{1}$	Revenue from Operations	6,177.33	6,551.58	4,615.42	23,066.98	20,158.83
$\overline{2}$	Other Income	88.24	24.96	38.36	362.21	347.12
3	Total Income $(1 + 2)$	6,265.57	6,576.54	4,653.78	23,429.19	20,505.95
$\overline{4}$	Expenses :
	(a) Cost of materials consumed	2,154.14	1,484.54	1,355.42	6,792.42	5,137.60
	(b) Purchases of stock-in-trade	272.17	352.29	210.29	1,155.45	1,529.86
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(382.60)	423.82	(747.44)	(126.90)	(349.16)
	(d) Employee benefits expense	1,022.97	1,005.99	1,104.89	3,998.98	4,427.51
	(e) Finance Costs	308.70	292.30	340.89	1,271.21	1,287.96
	(f) Depreciation and amortisation expense	238.10	208.66	206.99	854.55	826.81
	(g) Other expenses	1,850.04	1,758.92	1,352.77	6,258.65	5,844.87
	Total expenses	5,463.52	5,526.52	3,823.81	20,204.36	18,705.45
5	Profit / (Loss) before exceptional items and tax (3 - 4)	802.05	1,050.02	829.97	3,224.83	1,800.50
6	Exceptional items
$\overline{7}$	Profit / (Loss) before tax (5 - 6)	802.05	1,050.02	829.97	3,224.83	1,800.50
8	Tax expense :
	(a) Current Tax
	(b) Deferred Tax	120.46	202.25	309.54	562.78	209.30
9	Profit / (Loss) for the period (7 - 8)	681.59	847.77	520.43	2,662.05	1,591.20
10	Other Comprehensive Income :
	(a i) Items that will not be reclassfied to Profit & Loss	(34.18)	(2.80)	(5.66)	(42.56)	(11.17)
	(a ii) Income Tax relating to Items that will not be reclassfied toProfit & Loss	8.60	0.70	1.21	10.71	2.81
	(b) Items that will be reclassfied to Profit & Loss		۷
11	Total Comprehensive Income for the period (9 + 10)	656.01	845.67	515.98	2,630.20	1,582.84
12	Paid up Equity Share Capital (Face Value of Rs.10/- per Equity Share)	918.85	918.85	918.80	918.85	918.80
13	Other Equity (Excluding Revaluation Reserve)				14,204.20	11,515.40
14	Earnings per share:
	(a) Basic	7.42	9.23	5.66	28.97	17.32
	(b) Diluted	7.42	9.22	5.66	28.96	17.32

THEMIS MEDICARE LTD

CIN NO: L24110GJ1969PLC001590

Regd. Off. Plot No. 69A, GIDC Indl. Estate, Vapi - 396195, Dist Valsad, Gujarat. (T) 0260-2431447 / 0260-2430219. Corporate Office : 11/12, Udyog Nagar, S. V. Road, Goregaon (West), Mumbai-400 104. Email ID : themis@themismedicare.com. Website Address : www.themismedicare.com.

Statement of Audited Financial Results for the quarter and year ended 31st March 2021.

	( Amount in INR Lakhs )
		CONSOLIDATED
	Particulars		Quarter Ended			Year Ended
		31/03/2021	31/12/2020	31/03/2020	31/03/2021	31/03/2020
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
$\mathbf{1}$	Revenue from Operations	6,177.33	6,551.58	4,615.42	23,066.98	20,158.83
$\overline{2}$	Other Income	88.24	24.96	38.36	362.21	346.49
$\overline{3}$	Total Income $(1+2)$	6,265.57	6,576.54	4,653.78	23,429.19	20,505.32
$\overline{4}$	Expenses :
	(a) Cost of materials consumed	2,154.14	1,484.54	1,355.42	6,792.42	5,137.60
	(b) Purchases of stock-in-trade	272.17	352.29	210.29	1,155.45	1,529.86
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(345.99)	423.82	(747.44)	(90.29)	(349.16)
	(d) Employee benefits expense	1,022.97	1,005.99	1,104.89	3,998.98	4,427.51
	(e) Finance Costs	308.71	292.31	340.92	1,271.25	1,288.04
	(f) Depreciation and amortisation expense	238.26	208.66	207.32	854.71	827.20
	(g) Other expenses	1,848.88	1,760.03	1,353.65	6,261.07	5,847.35
	Total expenses	5,499.14	5,527.64	3,825.05	20,243.59	18,708.40
5	Profit / (Loss) before exceptional items, share of Profit/(Loss) of	766.43	1,048.90	828.73	3,185.60	1,796.92
	associates and joint venture and tax (3 - 4)
6	Exceptional items	$\overline{\phantom{a}}$	÷,	$\omega$		ù.
$\overline{7}$	Profit / (Loss) before share of Profit / (Loss) of associates and jointventure and tax $(5 - 6)$	766.43	1,048.90	828.73	3,185.60	1,796.92
8	Add: Share of Profit / (Loss) of associates and a joint venture for theperiod	159.29	329.65	208.42	947.47	890.54
9	Profit / (Loss) before tax $(7 + 8)$	925.72	1,378.55	1,037.15	4,133.07	2,687.46
10	Tax expense :
	(a) Current Tax	$\blacksquare$		a)
	(b) Deferred Tax	120.46	202.25	309.54	562.78	209.30
	11 Profit / (Loss) for the period (9 - 10)	805.26	1,176.30	727.61	3,570.29	2,478.16
	Attributable to:
	Equity holders of the Parent	805.27	1,176.30	727.62	3,570.30	2,478.17
	Non - Controlling interests	(0.01)	$\blacksquare$	(0.01)	(0.01)	(0.01)
12	Other Comprehensive Income:
	(a i) Items that will not be reclassfied to Profit & Loss	(34.18)	(2.80)	(5.66)	(42.56)	(11.17)
	(a ii) Income Tax relating to Items that will not be reclassfied toProfit & Loss	8.60	0.70	1.21	10.71	2.81
	(a iii) Share of Other Comprehensive Income of Associates andJoint Ventures accounted using equity method	(0.73)	0.01	0.00	(0.71)	0.02
	(b) Items that will be reclassfied to Profit & Loss		2.87	4.27
13	Total Comprehensive Income for the period (11 + 12)	(18.30)			(8.15)	1.21
	Attributable to:	760.65	1,177.08	727.43	3,529.58	2,471.03
	Equity holders of the Parent	760.66	1,177.08	727.44	3,529.59	2,471.04
	Non - Controlling interests	(0.01)		(0.01)	(0.01)	(0.01)
14	Paid up Equity Share Capital (Face Value of Rs.10/- per Equity Share)	918.85	918.85	918.80	918.85	918.80
15	Other Equity (Excluding Revaluation Reserve)				17,474.63	13,886.44
16	Earnings per share:
	(a) Basic	8.76	12.80	7.92	38.86	26.97
	(b) Diluted	8.76	12.80	7.92	38.84	26.97

NOTES:

1 Statement of Assets and Liabilities :

(Amount in INR Lakhs)

As at 31stMarch, 2021	(STANDALONE)As at 31stMarch, 2020	As at 31st	(CONSOLIDATED)As at 31st
		March, 2021	March, 2020
(Audited)	(Audited)	(Audited)	(Audited)
12,974.53	11,438.17	12,975.00	11,438.80
247.21	753.69	247.21	753.69
214.37	49.91	214.37	49.91
120.72	142.56	120.72	142.56
$\overline{\phantom{a}}$	$\overline{a}$	4,476.21	3,529.45
1,097.80	1,095.93	19.65	17.78
28.13	30.74	28.13	30.74
			457.24
485.77	522.04		522.04
			16,942.21
			5,460.89
			10,248.44
			334.15
			195.33
			485.37
			1,324.95
			18,049.13
			34,991.34
918.85			918.80
			17,383.65
			18,302.45
			(0.05)
18,580.25			18,302.40
			1,185.45
			22.47
$\overline{\phantom{a}}$
			$\overline{\phantom{a}}$
			1,207.92
			7,661.33
			35.49
37.94	109.49	37.94	109.49
3,040.26	2,858.48	3,041.25	2,858.82
2,841.24	4,620.12	2,841.94	4,620.82
981.50149.30	27.88	983.09	29.24
12,827.33	165.8315,478.62	149.3012,830.61	165.8315,481.02
	15,168.535,849.447,796.301,900.47561.55531.972,032.1018,671.8333,840.3617,661.4018,580.252,219.70118.2594.832,432.785,692.7884.31	457.2414,490.285,424.2810,283.79332.81195.33485.371,406.1018,127.6832,617.96918.8015,012.6215,931.4215,931.421,185.4522.471,207.927,661.3335.49	485.7718,567.065,849.447,760.941,901.80561.55531.971,941.2518,546.9537,114.01918.8520,931.8321,850.68(0.06)21,850.622,219.70118.2594.832,432.785,692.7884.31

$\overline{O}$ IC MUMB

2 Statement of Cash Flows:

(Amount in INR Lakhs)

	(STANDALONE)		(CONSOLIDATED)
Particulars	As at 31stMarch, 2021	As at 31stMarch, 2020	As at 31stMarch, 2021	As at 31stMarch, 2020
	(Audited)	(Audited)	(Audited)	(Audited)
CASH FLOWS FROM OPERATING ACTIVITIES:Profit before tax
Adjustments for:	3,224.83	1,800.50	4,133.07	2,687.46
Depreciation and amortisation expense	854.55	826.81	854.71	827.20
Loss on sale of property, plant and equipment	(2.26)	0.80	(2.26)	0.80
Changes in fair value of financial instruments at fair value through
profit or loss	(1.88)	7.11	(1.88)	7.11
Fair valuation of finanial guarentee	$\blacksquare$	(0.63)		$\blacksquare$
Changes in fair value of lease assets through profit or loss		(0.66)
		(30.38)
Dividend and interest income classified as investing cash flows	(234.01)		(234.01)	(30.38)
Finance costs	1,096.57	1,107.20	1,096.57	1,107.20
Reversal of loss allowance on financial assets	$\blacksquare$	(88.37)		(88.37)
Share of (profit) Loss from joint ventures and associates	$\overline{a}$		(946.75)	(890.57)
Change in operating assets and liabilities:
(Increase)/Decrease in trade receivables	2,487.49	(2,869.33)	2,487.49	(2,869.33)
(Increase)/Decrease in inventories	(425.16)	(89.01)	(388.55)	(97.41)
Increase/(decrease) in trade payables	110.23	(533.94)	110.88	(535.70)
(Increase)/Decrease in other financial assets	(43.99)	(83.28)	(43.99)	(83.29)
(Increase)/decrease in other assets	(626.00)	240.76	(616.29)	255.02
Increase/(decrease) in provisions	(30.52)	47.88	(30.52)	46.49
(Increase)/Decrease in Other bank balance	(366.22)	(25.72)	(366.22)	(25.73)
Increase/(decrease) in other financial liabilties	(1,307.43)	(72.73)	(1,316.29)	(73.43)
Increase/(decrease) in other liabilities	953.62	(179.62)	953.85	(180.10)
Cash generated from operations	5,689.82	57.39	5,689.81	57.00
Less: (Income taxes paid)/ refund received (Net)	7.70	(24.18)	7.70	(24.18)
Net cash inflow from operating activities	5,697.52	33.21	5,697.51	32.82
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for property, plant and equipment	(1,803.88)	(579.77)	(1,803.88)	(580.65)
Proceeds from sale of property, plant and equipment	4.75	3.65	4.75	3.65
Dividends received	192.80	0.00	192.80	0.00
Interest received	41.21	30.37	41.21	30.37
Net cash outflow from investing activities	(1, 565.12)	(545.75)	(1, 565.12)	(546.62)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issues of equity shares	1.55	23.60	1.55	23.60
Proceeds from current borrowings (Net)	(1,968.55)	975.83	(1,968.55)	975.82
Receipts / Repayment of non Curent borrowings	725.69	780.26	725.69	780.26
Repayment of lease liabilities	(66.07)	$\overline{\phantom{a}}$	(66.07)	$\blacksquare$
Interest paid	(1,096.57)	(1, 107.20)	(1,096.57)	(1, 107.20)
Dividends paid	(160.79)		(160.79)
Net cash inflow (outflow) from financing activities	(2, 564.74)	672.49	(2,564.74)	672.49
Net increase (decrease) in cash and cash equivalents	1,567.66	159.95	1,567.65	158.68
Cash and Cash Equivalents at the beginning of the financial year	332.81	172.86	334.15	175.47
Cash and Cash Equivalents at end of the year	1,900.47	332.81	1,901.80	334.15
Reconciliation of cash and cash equivalents as per the cash flowstatement:
Cash and cash equivalents as per above comprise of the following:
Balances with banks
- On current accounts	1,896.22	329.38	1,897.29	330.47
Cash on hand	4.25	3.43	4.51	3.68
Balances per statement of cash flows	1,900.47	332.81	1,901.80	334.15

• 1. The above Audited Financial Results were reviewed by the Audit Committee and have been considered and approved by the Board of Directors at its meeting held on May 27, 2021.
• 1. The above financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Rules, 2016.
• 1. The Company operates in a single Business segment i.e Pharmaceuticals and hence does not have any reportable segments as per Indian Accounting Standard (Ind AS) 108 - "Operating Segments".
• 1. The COVID pandemic is unprecedented and has affected the operations as well as results of the Company. The manufacturing facility of the Company which was shut down in the last week of March 2020 due to country wide lockdown, resumed operations in a phased manner from the first week April , 2020 after receiving requisite approvals. The Company has taken adequate precautions for safety and well - being of the employees while resumption of operations of its plant. The Company has taken into consideration the impact of the known internal and external events arising from COVID - 19 pandemic while preparing the financial information and have considered the possible effects on the carrying amounts of trade receivables and inventories. However, the impact assessment of COVID - 19 is an on going process, given the uncertainties associated with its nature and duration, hence the same may differ from that estimated as at the date of approval of these financial results. The Company will continue to closely monitor any material changes to future economic conditions and the consequent impact on its business, If any.
• 1. The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been notified in the Gazette of India. However, the date from which it will be implemented has reportedly not been notified. The Company will assess the impact of the Code when it comes in to effect and will record any related impact in the period the Code becomes effective.
• 1. The Board of Directors of the Company has recommended a dividend of Rs. 4.30 per share of the face value of Rs. 10/each.
• 1. The figures of the quarter ended March 31, 2021 are the balancing figures between audited figures for the full Financial Year and unaudited published year to date figures up to the third quarter of the Financial Year.
• 1. Figures for the corresponding previous year/period have been regrouped/rearranged, wherever necessary, to make them comparable.

By Order of the Board For THEMIS MEDICARE LTD

$DICA$

Dr. SACHIN PATEL (Managing Director & CEO) (DIN No. 00033353)

Place: Mumbai Date: 27th May, 2021

TML: CS: BDM-38/2021-22

27th May, 2021

BSE Limited.

P. J. Towers, Dalal Street, Mumbai-400001

National Stock Exchange of India Ltd. "Exchange Plaza", Bandra - Kurla Complex, Bandra – East, Mumbai- 400 051

Dear Sir/Madam,

Sub: Submission of declaration as per Second proviso to the Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 for the Annual Standalone financial results for the year ended 31st March, 2021.

Ref: 1. BSE Scrip Code: 530199

1. NSE Scrip Code: THEMISMED

We hereby submit the following declaration regarding unmodified Auditors Report on the Standalone Audited Financial Results for the year 31st March, 2021.

DECLARATION

Pursuant to SEBI (Listing obligation and Disclosure Requirements) Regulations, 2015, and as amended, we, the undersigned do hereby declare that in the Audit Report, accompanying the Annual Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended on 31st March, 2021, the Statutory Auditor M/s R. P. Sardar & Co., Chartered Accountants does not express any Modified Opinion(s)/Audit Qualification(s) / or other Reservation(s) and accordingly the statement on impact of audit qualifications is not required to be given.

This may be taken as compliance under the Listing Regulations.

Kindly acknowledge.

Thanking you,

Yours Faithfully,

For THEMIS MEDICARE LTD.

$SANGAMES \begin{bmatrix} \text{Digitally signed by} \text{SANGAMES} \end{bmatrix}$ IYER WAR RIYER Date: 2021.05.27

Sangameshwar Iyer Company Secretary & Compliance Officer

Digitally signed byDALAL TUSHARJAYANTILAL DALAL TUSHAR Date: 2021.05.27 14:24:00+05'30' JAYANTILAL

Tushar J. Dalal Chief Financial Officer

Themis Medicare Limited

Corporate Office: 11/12 Udyog Nagar, S V Road, Goregaon (W), Mumbai - 400 104, India *Tel.: 91-22-67607080*Fax: 91-22-67607070/28746621 Regd. Office: Plot No. 69-A, G.I.D.C., Industrial Estate, Vapi-Gujarat CIN No.: L24110GJ1969PLC001590 *Tel/ Fax No.: Regd. Off.: 0260-2431447/2430219 *E-mail: themis@themismedicare.com*Website: www.themismedicare.com