Themis Medicare Ltd. — Interim / Quarterly Report 2021

Aug 13, 2021

TML: CS: BDM739/ 2021722 l3'" August, 20?l

Listing Department, Listing Department, P J.Towers, Dalal Street, "Exchange Plaza".

BSE Limited. National Stock Exchange of India Ltd. Mumbai—400001 Bandra , Kurla Complex, Bandra ,, East Mumbai— 400 051

Dear Sir/Madam,

Sub: Outcome of the Board Meetinq

Meeting Commencement time	10.45 AM. :
Meeting	12.45
Conclusion	PM.
Time	:

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

Unaudited Standalone and Consolidated Financial Results for the Quarter ended 30"- ,lune 202T

A copy at Unaudited Standalone and Consolidated Financial Results for the Quarter ended 30" June. 202i is enclosed herewith.

• Confirmed the time. and date of the SltlAnnual General Meeting which will be held on Saturday, 18'" September, 202l at l2100 Noon. NJ
• 1. Closure of Register of Members and Share Transler Books from ⁱ lth September, 202i to 18th September. 202i (both days inclusive) tor the purpose of 51st Annual General Meeting and payment of dividend tor the tinancial year 202072l. it approved at the ensuing Annual General Meeting.
• 1. Allotted ⁵⁵⁷⁸ Equity Shares to eligible employees pursuant to exercise at ESOP Options 1. under Themis FSOS Scheme 20l2.
• 1. Dr. Sachin ^D Patel has been appomted as Occupier ot Vapi. Hyderbad, and Haridwar factories of TML in place of Dr. Dinesh Patel.

This may be taken as compliance under the Listing Regulations.

Kindly acknowledge.

Thanking you, Yours taithtully.

For Themis Medicare Limited.

J :._.'. ,» ,

Sangameshwar Iyer Company Secretarys. Compliance Officer

Themis Medicare Limited

Corporate Office : 11.912. Udyog Nagar. 8. V. Road. Goregaon (West). Mumbal — ^{400 1011} India Tel. ; 91-22-6760 7080 -Fax : 9t-22—6760 7070 ²⁸⁷⁴ 662t Regd. Ollice : Plot No 69-A. Gt ⁰ C. Industrial Estate. Vapi - ³⁹⁶ 195. Gu;arat CIN No.: L241 tOGJ1969PL0001590 - Tel / Fax No; Regd. Oll. : 0260 2431447 2430219 ^r ,,,. .LH, , «AMA. _._._4.L_M Add, "Laval- . nn'mmnw nnnnnn ^m

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

REVIEW REPORT ON THE OUARTERLY AUDITORS INDEPENDENT UNAUDITED STANDALONE FINANCIAL RESULTS OF THE COMPANY PURSUANT TO THE REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AS AMENDED.

Review Report to The Board of Directors THEMIS MEDICARE LIMITED

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of THEMIS MEDICARE LIMITED ("the Company") for the Quarter ended on June 30, 2021 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review.
• We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Indian Accounting Standard prescribed under section 133 of the Companies Act, 2013 read with relevant Rules and other recognized accounting practices and policies thereon, 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 R.P. Sardar & Co. Chartered accountants (Firm's Registration No. 109273W)

Raju P. Sardar (Proprietor) (Membership No. 037845)

Place: Mumbai Date: 13/08/2021 UDIN: 21037845AAAAMQ2683

R. P. Sardar & Co. Accountants Chartered

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 AUDITOR'S REVIEW REPORT ON THE OUARTERLY UNAUDITED CONSOLIDATED FINANCIAL RESULTS OF THE COMPANY PURSUANT TO THE REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REOUIREMENTS) REGULATIONS, 2015, AS AMENDED.

Review Report to The Board of Directors THEMIS MEDICARE LIMITED

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of THEMIS MEDICARE LIMITED (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and the total comprehensive income of its associates for the quarter ended June 30, 2021 (the "Statement") 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.
• 1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410"Review of Interim Financial Information Performed by the independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Chartered Accountants

We also performed procedures in accordance with the Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, to the extent applicable.

1. The Statement includes the results of the following 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
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of other auditors referred to in paragraph 6 below, 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.
• 1. The Statement includes the interim financial results of 2 Associates & 1 Joint Venture which have not been reviewed, whose interim financial results reflect total revenues of Rs.5,759.11 Lakhs, total net Profit after tax of Rs.1,592.37 Lakh and total comprehensive income of Rs .-0.77 Lakh for the quarter ended 30 June, 2021, as considered in the consolidated unaudited financial results. According to the information and explanations given to us by the management, these interim financial results are not material to the Group.

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

R.P. Sardar & Co. Chartered Accountants

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 Con pany's management. Our opinion in so far as it relates to the balances and affair of 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 conclusion on the Statement is not modified in respect of the above matter.

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

pis

Place: Mumbai Date: 13/08/2021 UDIN: 21037845AAAAMP7783

Raju P. Sardar (Proprietor) (Membership No. 037845)

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 Unaudited Financial Results for the quarter ended 30th June 2021.

	Statement of Unaudited Financial Results for the quarter ended Soursuite				(Amount in INR Lakhs)
			STANDALONE
	Particulars $\kappa = 1$	Quarter Ended			Year Ended
		30/06/2021	31/03/2021	30/06/2020	31/03/2021
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
		11,250.35	6,177.33	4,848.84	23,066.98
$\mathbf{1}$	Revenue from Operations Other Income	34.93	88.24	35.90	362.21
$\overline{2}$ 3	Total Income $(1 + 2)$	11,285.28	6,265.57	4,884.74	23,429.19
4	Expenses :		2,154.14	1,249.21	6,792.42
	(a) Cost of materials consumed	2,970.83	272.17	255.69	1,155.45
	(b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, work-in-progress and stock-	838.18 342.21	(382.60)	187.09	(126.90)
	in-trade	1,083.95	1,022.97	1,016.19	3,998.98
	(d) Employee benefits expense	266.91	308.70	299.46	1,271.21
	(e) Finance Costs	235.03	238.10	203.82	854.55
	(f) Depreciation and amortisation expense	1,967.67	1,850.04	910.81	6,258.65
	(g) Other expenses	7,704.78	5,463.52	4,122.27	20,204.36
	Total expenses	3,580.50	802.05	762.47	3,224.83
5	Profit / (Loss) before exceptional items and tax (3 - 4)
6	Exceptional items	3,580.50	802.05	762.47	3,224.83
$\overline{7}$	Profit / (Loss) before tax (5 - 6)
8	Tax expense :	650.00		÷.
	(a) Current Tax	257.14	120.46	198.11	562.78
	(b) Deferred Tax	2,673.36	681.59	564.36	2,662.05
9	Profit / (Loss) for the period (7 - 8)
10	Other Comprehensive Income :	(10.64)	(34.18)	(2.79)	(42.56)
	(a i) Items that will not be reclassfied to Profit & Loss (a ii) Income Tax relating to Items that will not be reclassfied to	2.68	8.60	0.70	10.71
	Profit & Loss
	(b) Items that will be reclassfied to Profit & Loss			562.27	2,630.20
11	Total Comprehensive Income for the period (9 + 10)	2,665.40	656.01
12	Paid up Equity Share Capital (Face Value of Rs.10/- per Equity Share)	919.40	918.85	918.80	918.85 14,204.20
13	Other Equity (Excluding Revaluation Reserve)
14	Earnings per share:			6.14	28.97
	(a) Basic	29.08	7.42	6.14	28.96
	(b) Diluted	29.03	7.42

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 Unaudited Financial Results for the quarter ended 30th June 2021.

			CONSOLIDATED		(Amount in INR Lakhs)
	Particulars	Quarter Ended			Year Ended
		30/06/2021	31/03/2021	30/06/2020	31/03/2021
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
		11,250.35	6.177.33	4,848.84	23,066.98
1	Revenue from Operations	34.93	88.24	35.90	362.21
$\overline{2}$ 3	Other Income Total Income $(1+2)$	11,285.28	6,265.57	4,884.74	23,429.19
4	Expenses :	2,970.83	2,154.14	1,249.21	6,792.42
	(a) Cost of materials consumed	838.18	272.17	255.69	1,155.45
	(b) Purchases of stock-in-trade
	(c) Changes in inventories of finished goods, work-in-progress and stock- in-trade	342.21	(345.99)	187.09	(90.29)
	(d) Employee benefits expense	1,083.95	1,022.97	1,016.19	3,998.98
	(e) Finance Costs	266.91	308.71	299.48	1,271.25
	(f) Depreciation and amortisation expense	235.03	238.26	203.82	854.71 6,261.07
	(g) Other expenses	1,967.95	1,848.88	911.14
	Total expenses	7,705.06	5,499.14	4,122.62	20,243.59
	Profit / (Loss) before exceptional items, share of Profit/(Loss) of	3,580.22	766.43	762.12	3,185.60
5	associates and joint venture and tax (3 - 4)		¥.	$\sim$
6	Exceptional items
$7\overline{ }$	Profit / (Loss) before share of Profit / (Loss) of associates and joint venture and tax $(5 - 6)$	3,580.22	766.43	762.12	3,185.60
	Add: Share of Profit / (Loss) of associates and a joint venture for the	446.73	159.29	211.27	947.47
8	period				4,133.07
$\overline{9}$	Profit / (Loss) before tax (7 + 8)	4,026.95	925.72	973.39
10	Tax expense :			$\omega$
	(a) Current Tax	650.00	120.46	198.11	562.78
	(b) Deferred Tax	257.14 3,119.81	805.26	775.28	3,570.29
11	Profit / (Loss) for the period (9 - 10)
	Attributable to:	3,119.81	805.27	775.28	3,570.30
	Equity holders of the Parent		(0.01)	(0.00)	(0.01)
	Non - Controlling interests
$12$	Other Comprehensive Income :	(10.64)	(34.18)	(2.79)	(42.56)
	(a i) Items that will not be reclassfied to Profit & Loss (a ii) Income Tax relating to Items that will not be reclassfied to	2.68	8.60	0.70	10.71
	Profit & Loss
	(a iii) Share of Other Comprehensive Income of Associates and	(0.18)	(0.73)	0.01	(0.71)
	Joint Ventures accounted using equity method	1.02	(18.30)	5.94	(8.15)
	(b) Items that will be reclassfied to Profit & Loss	3,112.69	760.65	779.14	3,529.58
13	Total Comprehensive Income for the period (11 + 12)
	Attributable to:	3,112.69	760.66	779.14	3,529.59
	Equity holders of the Parent		(0.01)	(0.00)	(0.01)
	Non - Controlling interests			918.80	918.85
14	Paid up Equity Share Capital (Face Value of Rs.10/- per Equity Share)	919.40	918.85		17,474.63
15	Other Equity (Excluding Revaluation Reserve)
16	Earnings per share:			8.44	38.86
	(a) Basic	33.93	8.76 8.76	8.44	38.84
	(b) Diluted	33.88

THEMIS MEDICARE LTD

NOTES:

• 1) The above Unaudited Financial Results were reviewed by the Audit Committee and have been considered and approved by the Board of Directors at its meeting held on August 13, 2021.
• 2) 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.
• 3) 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 v} "Operating Segments".
• 4) The beginning of the first quarter of Financial Year 2021—22 saw the rise of the second wave of Covid ¹⁹ resulting in the same being more contagious thereby affecting ^a huge number of the India's population and as regards the Company, quite ^a few members of its Top management.The rise of the second wave led to various state governments imposing several restrictions to combat the virus which impacted economic activities in the country.Whiie the Company was affected generally to some extent, there was no material impact on its manufacturing operations. aTopimpactmanufacturingForTHEMISMEDICARELTDNOTES:1)TheaboveUnauditedFinancialResultswerereviewedbytheAuditCommitteeandhavebeenconsideredandapprovedbytheBoardofDirectorsatitsmeetingheldonAugust13,2021.2)TheabovefinancialresultshavebeenpreparedinaccordancewithIndianAccountingStandards(IndAS)asprescribedundersection133oftheCompaniesAct,2013readwithRule3oftheCompanies(IndianAccountingStandards)Rules,2015andtheCompanies(indianAccountingStandards)Rules,2016.3)TheCompanyoperatesinasingleBusinesssegmenti.ePharmaceuticalsandhencedoesnothaveanyreportablesegmentsasperindianAccountingStandard(IndAS)108v"OperatingSegments".4)ThebeginningofthefirstquarterofFinancialYear2021—22sawtheriseofthesecondwaveofCovid19resultinginthesamebeingmorecontagioustherebyaffectingahugenumberoftheIndia'spopulationandasregardstheCompany,quiteafewmembersofitsTopmanagement.Theriseofthesecondwaveledtovariousstategovernmentsimposingseveralrestrictionstocombattheviruswhichimpactedeconomicactivitiesinthecountry.WhiietheCompanywasaffectedgenerallytosomeextent,therewasnomaterialimpactonitsmanufacturingoperations.5)TheCodeonSocialSecurity,2020('Code')relatingtoemployeebenefitsduringemploymentandpost-
• 5) The Code on Social Security, ²⁰²⁰ ('Code') relating to employee benefits during employment and postempioyment benefits received Presidential assent in September 2020. The Code has been notified in the Ga7ette 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 into effect and will record any related impact in the period the Code becomes effective. employeeempioymentbenefitsreceivedPresidentialassentinSeptember2020.TheCodehasbeennotifiedintheGa7etteofIndia.However,thedatefromwhichitwillbeimplementedhasreportedlynotbeennotifiedTheCompanywillassesstheimpactoftheCodewhenitcomesintoeffectandwillrecordanyrelatedimpactintheperiodtheCodebecomeseffective.
• 6) Figures for the corresponding previous year/period have been regrouped/rearranged, wherever necessary, to make them comparable. 6)Figuresforthecorrespondingpreviousyear/periodhavebeenregrouped/rearranged,wherevernecessary,tomakethemcomparable.

By Order of the Board For THEMIS MEDICARE LTD OrderByOrderoftheBoardForTHEMISMEDICARELTD

DateI13thAugust,2021(DINNO.00033353)

Dr. SACHlN PATEL F'Place : Mumbai (Managing Director & CEO) Date ^I 13th August, ²⁰²¹ (DIN NO. 00033353) Dr.SACHlNPATELF'Place:Mumbai(ManagingDirector&CEO)